HomeMy Public PortalAbout2015_02_24_R028 Perf Guar and W and S Permits for Crescent Place Ph 1 2 3 The Town of
Leesburg,
Virginia
PRESENTED: February 24,2015
RESOLUTION NO. 2015-028 ADOPTED: February 24, 2015
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
CRESCENT PLACE—PHASE 1, 2, & 3 (TLPF-2014-0025)
WHEREAS, Leesburg Acquisition Partners, LLC,the developer of Crescent Place—Phase 1,2,
& 3 has requested approval of a Corporate Surety Bond from Ironshore Indemnity Inc., in the amount of
$4,999,000 to guarantee the public improvements; and
WHEREAS,the Director of Public Works recommends approval of a contract for installation of
public improvements and acceptance of a performance guarantee for of Crescent Place—Phase 1, 2, &3.
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 to be approved by the Director of Plan Review for of Crescent Place—
Phase 1, 2, & 3.
SECTION II. A Corporate Surety Bond from Ironshore Indemnity Inc., in the amount of
$4,999,000 is approved as security to guarantee installation of the public improvements shown on plans
to be approved by the Director of Plan Review for of Crescent Place—Phase 1,2,&3.
SECTION III. The extension of municipal water and sewer for of Crescent Place—Phase 1,2,
&3 is approved in accordance with Section 34-25 and Section 34-123 of the Town Code.
PASSED this 24th day of February, 2015.
N
Ki=n . Umstattd,Mayor
Town of Leesburg
T
Clerk of Co
PAResolutions\2015\16 Perf Guar Crescent Place Ph 1 2 3.doc