HomeMy Public PortalAbout2003_01_28_r013The Town of
I .eesburg,
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PRESENTED January_ 28, 2003
2003-].3
RESOLUTION NO. ADOPTED January_ 28, 2003
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEES FOR
PUBLIC IMPROVEMENTS INSTALLED IN SYCAMORE HILL PHASE I,
SECTIONS 4 AND 5
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Sycamore Hill Phase I, Section 4 and 5 and certified that the value of
work performed is $41,603.00 for Section 4; and $12,844.00 for Section 5; and
WHEREAS, cash bonds in the amounts of $97,101.00 and $41,753.00 were provided by the
developer and approved by the Council to guarantee installation of public improvements in Sycamore Hill
Phase I, Sections 4 and 5; and
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantees for public improvements in Sycamore Hill Phase I, Sections 4 and 5.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The cash bond in the amount of $97,101.00 is reduced to $55,498.00 for
Sycamore Hill Phase I, Section 4; and $41,753.00 is reduced to $28,909.00 for the Sycamore Hill Phase I,
Section 5.
SECTION II. The Town Manager shall notify the developer that liability for cash bond funds
have been reduced as outlined in Section I of this resolution and that these reductions do not constitute
acceptance of public improvements by the town or relieve the developer of responsibilities outlined in the
contract for public improvements for Sycamore Hill Phase I, Section 4 and 5.
PASSED this 28m day of January 2003.
A~ST:
r-k of Council
Town of Leesburg
R:SycaHill4&5Red