HomeMy Public PortalAbout2016_08_09_R099 Perf Guar for Leesburg South Ph1 The Town of
Leesburg)
PRESENTED: August 9, 2016
RESOLUTION NO. 2016-099 ADOPTED: August 9, 2016
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A
PERFORMANCE GUARANTEE, A WATERWORKS EXTENSION
PERMIT AND A SEWER EXTENSION PERMIT FOR LEESBURG
SOUTH PHASE 1 (TLPF-2014-0003).
WHEREAS, Arcadia Communities, L.L.C., the developer of Leesburg South Phase 1 has
requested approval of a Corporate Surety Bond from The Hanover Insurance Company in the
amount of$9,072,000 to guarantee the public improvements; and
WHEREAS, the Director of Public Works and Capital Projects recommends approval of a
contract for installation of public improvements and acceptance of a performance guarantee for
Leesburg South 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 Leesburg
South Phase 1.
SECTION II. A Corporate Surety Bond from The Hanover Insurance Company in the
amount of$9,072,000 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 Leesburg South Phase 1.
SECTION III. The extension of municipal water for Leesburg South Phase 1 is approved in
accordance with Section 34-25 of the Town Code.
SECTION IV. The extension of municipal sewer for Leesburg South Phase 1 is approved in
accordance with Section 34-123 of the Town Code.
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A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A
PERFORMANCE GUARANTEE, A WATERWORKS EXTENSION
PERMIT AND A SEWER EXTENSION PERMIT FOR LEESBURG
SOUTH PHASE 1 (TLPF-2014-0003).
PASSED this 9th day of August, 2016.
pc/j.46,x
David S. Butler, Mayor
Town of Leesburg
Clerk of • 1
P:\Resolutions\2016\0809 Leesburg South Phase I -New Perf Bond.doc