HomeMy Public PortalAbout2003_04_22_r062The Town of
Leesburg,
lrglnla
PRESENTED April 22, 2003
RESOLUTION NO. '~2~03-:~2 ADOPTED April 22, 2003
A RESOLUTION: AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING PERFORMANCE GUARANTEES
FOR POTOMAC CROSSING SECTIONS 2B1, 3A-l, 4, 5, 6, AND 7
WHEREAS, Arcadia Development Company, the developer of Potomac Crossing Sections
2B-l, 3A-l, 4, 5, 6, and 7 has not completed all the required public improvements in accordance with
the approved construction drawings and town standards within the two-year period agreed to in the
contract for public improvements and previously approved time extension; and
WHEREAS, the developer has requested a time extension to complete the public
improvements; and
WHEREAS, corporate surety bonds from The Lumbermens Mutual Casualty Company in the
amounts of $122,643.70 for Section 3A-l; $18,794.18 for Section 4; $983,024.57 for Section 5;
$86,174.82 for Section 6; $90,306.59 for Section 7; and from The American Insurance Company in
the amount of $129,945.00 for Section 2B-1 were provided by the developer to guarantee the
installation of public improvements; and
'WHEREAS, the town's Director of Engineering and Public Works recommends a time
extension to October 31, 2003 for Potomac Crossing Sections 2B-l, 3A-l, 4, 5, 6, and 7.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bonds from The Lumbermens Mutual Casualty Company
and The American Insurance Company in the amounts listed above are approved to guarantee the
installation of public improvements Potomac Crossing Sections 2B-l, 3A-l, 4, 5, 6, and 7.
A RESOLUTION:
-2-
AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING PERFORMANCE GUARANTEES
FOR POTOMAC CROSSING SECTIONS 2B-l, 3A-l, 4, 5, 6, AND 7
SECTION II. Time extensions to October 31, 2003 for Potomac Crossing Sections 2B-l, 3A-
1, 4, 5,6, and 7 are approved.
PASSED this 22nd day of April 2003.
ATTEST:
· --C~er[ of ~2ouncil (~
~i~. Uh4stattd, Ma~r
Town of Leesburg
R03 :PotCrsExtensions