HomeMy Public PortalAbout2008_04_08_R057 Perf Guar Village at Leesburg Village Center
The Town of
Leesburg,
Virginia
PRESENTED: April 8, 2008
RESOLUTION NO.
2008-57
ADOPTED: April 8, 2008
A RESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
VILLAGE AT LEESBURG VILLAGE CENTER
WHEREAS, Carlyle/Cypress Leesburg I, LLC, the developer of the Village at Leesburg Village
Center, has requested approval of a corporate surety bond from the Farmington Casualty Company in the
amount of$I,493,000 to guarantee the public improvements; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a contract
for installation of public improvements and acceptance of a performance guarantee for the Village at
Leesburg Village Center.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Manager shall execute the contract for public improvements for the
improvements shown on the plans approved by the Director of Engineering and Public Works for the
Village at Leesburg Village Center.
SECTION II. The extension of municipal water and sewer for the Village at Leesburg Village
Center is approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. A corporate surety bond from Farmington Casualty Company in the amount of
$1,493,000 is approved as security to guarantee installation of the public improvements shown on plans
approved by the Director of Engineering and Public Works for the Village at Leesburg Village Center.
PASSED this 8th day of April 2008.