HomeMy Public PortalAbout2005_04_12_r062The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED: April 12, 2005
2005-62
ADOPTED: April 12, 2005
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND MAKING A REDUCTION OF THE
PERFORMANCE GUARANTEE FOR PUBLIC IMPROVEMENTS
INSTALLED IN LANSDOWNE ON THE POTOMAC SECTION 44
WHEREAS, West Goose Creek, L.L.C., the developer of Lansdowne on the Potomac
Section 44 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 from the St. Paul Fire and Marine Insurance
Company in the mount of $219,600.00 was provided by the developer and approved by the
Council to guarantee installation of public improvements in Lansdowne on the Potomac Section
44; and
WHEREAS, the town's Director of Engineering and Public Works has reviewed the
public improvements installed to date in Lansdowne on the Potomac Section 44 and certified that
the value of work performed is $197,640.00 and recommends reducing the performance
guarantee for public improvements installed in Lansdowne on the Potomac Section 44, and
recommends a time extension to March 26, 2006 for completion of the public improvements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF
PUBLIC IMPROVEMENTS AND MAKING A REDUCTION OF THE
PERFORMANCE GUARANTEE FOR PUBLIC IMPROVEMENTS
INSTALLED IN LANSDOWNE ON THE POTOMAC SECTION 44
SECTION I. A time extension to March 26, 2006 for completion of the public
improvements is approved
SECTION II. The corporate surety bond from the St. Paul Fire and Marine Insurance in
the amount of $219,600.00 is reduced to $21,960.00.
SECTION III. The town manager shall notify the developer that liability for corporate
surety bond funds has been reduced as outlined in Section I of this resolution and that this
reduction does not constitute acceptance of public improvements by the town or relieve the
developer of responsibilities outlined in the contract for public improvements for Lansdowne on
the Potomac Section 44.
PASSED this 12t~ day of April 2005.
ATTEST:
rk of Council
Kr-~ C. U~tattd, MaYor
Town of Leesburg
R05:! an~ownegec44TimeExt&Red