HomeMy Public PortalAbout2003_11_25_r157The Town of
l .eesburg,
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PRESENTED: November 25, 2003
RESOLUTION NO. 2 0 0 3 - ! 5 7 ADOPTED: November 25, 2003
A RESOLUTION: AUTHORIZING A TIME EXTE-3ISION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR STOWERS SECTION 1
WHEREAS, Richmond American Homes of Virginia, Inc., the developer of Stowers Section 1 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
WHEREAS, the developer has requested a time extension to complete the public improvements;
and
WHEREAS, a corporate surety bond in the amount of $337,588.00, from the St. Paul Fire and
Marine Insurance Company was prodded by the developer to guammee the instail_ation of public
improvements in Stowers Section 1; and
WHEREAS, the town's Director of Engineering and Public Works recommends a time extension
to October 25, 2004 for completion of the public improvements in Stowers Section 1.
THEREFORE, RESOLVED by the Council ofthe Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the St. Paul Fire and Marine Insurance Company
in the.amount of $337,588.00 is approved to guarantee the installation of public improvements in Stowers
Section 1.
SECTION II. A time extension to October 25, 2004 for completion of the public improvements
in Stowers Section 1 is approved.
PASSED this 25th day of November 2003.
rkof Council
~'~2. Ums~ttd, Mayor
Town of Leesburg
R03:StowersSec 1ThncExt