HomeMy Public PortalAbout2016_03_29_R046 Perf Guar for Airport Commerce Park Ph 2 The Town of
Leesburg,
Virginia
PRESENTED: March 29,2016
RESOLUTION NO. 2016-046 ADOPTED: March 29, 2016
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
AIRPORT COMMERCE PARK,PHASE 2(TLPF-2014-0008).
WHEREAS, EPL Archives,Inc.,the developer of Airport Commerce Park,Phase 2 has requested
approval of a Letter of Credit from M&T Bank in the amount of$1,263,000 to guarantee the public
improvements; and
WHEREAS,the Assistant Town Manager recommends approval of a contract for installation of
public improvements and acceptance of a performance guarantee for Airport Commerce Park,Phase 2.
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 Airport Commerce
Park,Phase 2.
SECTION II. A Letter of Credit from M&T Bank in the amount of$1,263,000 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 Airport Commerce Park, Phase 2.
SECTION III. The extension of municipal water and sewer for of Airport Commerce Park,Phase
2 is approved in accordance with Section 34-25 and Section 34-123 of the Town Code.
PASSED this 29th day of March, 2016.
David S. Butler,Mayor
Town of Leesburg
AT E
Clerk of Cou- il.
P:\Resolutions\2016\0329 Airport Commerce Park Phase 2-New Perf Bond.doc