HomeMy Public PortalAbout2015_06_23_R072 Perf Guar and Water and Sewer Ext Permits for Compass Creek The Town of
Leesburg,
Virginia PRESENTED: June 23,2015
RESOLUTION NO. 2015-072 ADOPTED: June 23,2015
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
COMPASS CREEK COMMERCIAL CENTER PHASE 1 (TLPF-2014-0023)
WHEREAS,Leesburg Commercial L.C.,the developer of Compass Creek Commercial Center Phase
1 has requested approval of a Corporate Surety Bond from Hartford Fire Insurance Company in the amount
of$7,474,000 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 Compass Creek Commercial Center
Phase 1.
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 Compass Creek
Commercial Center Phase 1.
SECTION II. A Corporate Surety Bond from Hartford Fire Insurance Company in the amount of
$7,474,000 is approved as security to guarantee installation of the public improvements shown on plans to be
approved by the Director of Plan Review for Compass Creek Commercial Center Phase 1.
SECTION III. The extension of municipal water and sewer for of Compass Creek Commercial
Center Phase 1 is approved in accordance with Section 34-25 and Section 34-123 of the Town Code.
PASSED this 23`d day of June, 2015.
Kns1- "'U stattd,Mayor r
Town of Leesburg
AT ESQ .
Clerk of Coii
P:\Resolutions\2015\0623 Perf Guar WS Ext Permits for Compass Creek Comm Ctr.doc