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Home My Public Portal About2009_03_24_R038 - Release of Funds to Kettler for Completion of Relocation of Rt. 653 The Town of Leesburg, Virginia PRESENTED: March 24. 2009 RESOLUTION NO. 2009-038 ADOPTED: March 24.2009 A RESOLUTION: AUTHORIZING THE RELEASE OF $364,500 TO KETTLER FOR THE PARTIAL COMPLETION OF THE RELOCATION OF ROUTE 653 (COCHRAN MILL ROAD) AT ROUTE 7 WHEREAS, the Town Council adopted Resolution 99-168 on May 25, 1999 that authorized the Town Manager to sign an agreement with Rivercreek, LLC and Goose Creek Communities, LLC and accept $450,000 for the construction of the relocation of Route 653 (Cochran Mill Road) at Route 7; and WHEREAS, the $450,000 was received by the Town and has been held for use by the Town to construct or have constructed by others the relocation of Route 653 at Route 7; and WHEREAS, Kettler, the developer of the Village of Leesburg project in Leesburg, prepared construction drawings, received approvals and permits, provided performance bonds, and has constructed major portions of the Route 653 relocation as part of the Interchange at Route 7 and Rivercreek Parkway and Crosstrail Boulevard and Russell Branch Parkway East; and WHEREAS, the Interchange is approximately 86% complete and Russell Branch Parkway East is approximately 75% complete; and WHEREAS, Kettler has requested the release of a part of the funds held by the Town in an amount equal to the percent complete of the completed work; and WHEREAS, approximately half of the Route 653 relocation is included in the Interchange work and the other half is included in Russell Branch Parkway East work; and WHEREAS, the relocation of Route 653 is approximately 81 % complete; and WHEREAS, the Director of Public Works recommends the release to Kettler of$364,500 of the $450,000 currently held by the Town. -2- A RESOLUTION: AUTHORIZING THE RELEASE OF $364,500 TO KETTLER FOR THE PARTIAL COMPLETION OF THE RELOCATION OF ROUTE 653 (COCHRAN MILL ROAD) AT ROUTE 7 THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows: SECTION I. The release to Kettler of $364,500 for partial completion of the relocation of Route 653 is approved. SECTION II. The remaining $85,500 will be held until the completed road improvements are accepted by the Town. PASSED this 24th day of March. 2009. ~0~ 'Kri . stattd, Mayor . Town of Leesburg ATTEST: