HomeMy Public PortalAbout2007_09_25_r133
The Town of
Leesburg,
Virginia
PRESENTED September 25. 2007
RESOLUTION NO. 2007-133
ADOPTED September 25. 2007
A RESOLUTION: AUTHORIZING A PERFORMANCE AND PROFFER COMPLIANCE
AGREEMENT AND APPROVING A PERFORMANCE GUARANTEE
FOR COMPLETION OF THE INTERCHANGE AT THE
INSTERSECTION OF EAST MARKET STREET (ROUTE 7),
RIVERCREEK P ARKW A Y AND CROSSTRAIL BOULEVARD
WHEREAS, in the approved plan for the Village at Leesburg (#ZM-2004-2005), the
applicant has proffered to construct an interchange at the intersection of East Market Street and
Crosstrail Boulevard (on the south) and River Creek Parkway (on the north); and
WHEREAS, Carlyle/Cypress Leesburg I, LLC and Springfield East, L.C., the developers,
request approval of a performance guarantee for such public improvements in order to proceed
with construction of the interchange and guarantee compliance with Proffer LE.1.a of the
approved proffer statement for the Village at Leesburg in Ordinance No. 2005-0-16 dated
November 8, 2005; and
WHEREAS, Section 15.2-2299 of the Code of Virginia authorizes the zomng
administrator to enforce conditions attached to a zoning map amendment by requiring a
guarantee, satisfactory to the governing body, in an amount sufficient and conditioned upon the
construction of any physical improvements required by the conditions; and
WHEREAS, Section 13-92(a)(3) of the Subdivision and Land Development Regulations
provides the authority to accept bonding for improvements proffered as part of any zoning map
amendment; and
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A RESOLUTION: AUTHORIZING A PERFORMANCE AND PROFFER COMPLIANCE
AGREEMENT AND APPROVING A PERFORMANCE GUARANTEE
FOR COMPLETION OF THE INTERCHANGE AT THE
INSTERSECTION OF EAST MARKET STREET (ROUTE 7),
RIVERCREEK P ARKW A Y AND CROSSTRAIL BOULEVARD
WHEREAS, the Zoning Administrator believes that a corporate surety bond III a
sufficient amount is satisfactory and will ensure the timely completion of the specified
improvements in Proffer I.E.I.a of Ordinance No. 2005-0-16; and
WHEREAS, the developers have requested approval of a corporate surety bond issued by
Federal Insurance Company in the amount of $31,846,000.00 to guarantee the completion of the
interchange; and
WHEREAS, the Director of Engineering and Public Works and the Zoning Administrator
recommend approval of a Performance and Proffer Compliance Contract and acceptance of the
corporate surety bond in the amount of $31 ,846,000.00 issued by Federal Insurance Company;
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The Town Manager shall execute the Performance and Proffer Compliance
contract in a form approved by the Town Attorney for the improvements shown on the plans
approved by the Director of Engineering and Public Works, VDOT and Loudoun County for the
East Market Street and Crosstrail Boulevard and River Creek Parkway interchange.
SECTION II. A corporate surety bond issued by Federal Insurance Company in the
amount of $31,846,000.00 is approved as security to guarantee installation of the public
improvements required by Proffer I.E.l.a of Ordinance No. 2005-0-16, shown on plans approved
by the Director of Engineering and Public Works, VDOT and Loudoun County for the East
Market Street and Crosstrail Boulevard and River Creek Parkway interchange.
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A RESOLUTION: AUTHORIZING A PERFORMANCE AND PROFFER COMPLIANCE
AGREEMENT AND APPROVING A PERFORMANCE GUARANTEE
FOR COMPLETION OF THE INTERCHANGE AT THE
INSTERSECTION OF EAST MARKET STREET (ROUTE 7),
RIVERCREEK P ARKW A Y AND CROSSTRAIL BOULEVARD
PASSED this 25th day of September 2007.
ATTEST:
~C\~,
~. ~~ttd. Mayor ?
Town of Leesburg
t(). d /i4d;
erk of Council
R07:East Market St-River Creek Pkway - Crosstrail Blvd