HomeMy Public PortalAbout2004_06_08_r88The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
2004-88
PRESENTED June 8, 2004
ADOPTED June 8, 2004
AUTHORIZING TIME EXTENSIONS FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING PERFORMANCE GUARANTEES FOR
STRATFORD LANDBAY C AND LANDBAY D
Town of Leesburg
R04:Strafford CD TExt
ATTEST:
. _ _ ._.~CJ~k-°f Council
completion of the public improvements are approved.
PASSED this 8* day of June 2004.
WHEREAS, The Ryland Group, Inc., the developer of Stratford Landbay C and Landbay D 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, corporate surety bonds from the Travelers Casualty and Surety Company of America in
the amount of $845,471.00 for Landbay C; and in the amount of $165,599.00 for Landbay D 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
June 3, 2005 for Landbay C; and to May 24, 2005 for Landbay D.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in V~e4nia as follows:
SECTION I. The corporate surety bonds from the Travelers Casualty and Surety Company of
America in the amounts listed above are approved to guarantee the installation of public improvements in
Stratford Landbay C and Landbay D.
SECTION II. Time extensions to Sune 3, 2005 for Landbay C, and to May 24, 2005 for Landbay D for