R-61-23 Authorizing a Reduction of a Letter of Credit for the Derby Pines Subdivision.VILLAGE OF
MONT
R�bl Z3
418 Main Street I Lemont, IL 60439
TO:
Village Board Meeting
FROM:
Donna Pecina, Community Development
THROUGH:
SUBJECT:
A Resolution Authorizing a Reduction of a Letter of Credit for the Derby
Pines Subdivision.
DATE:
October 23, 2023
SUMMARY/BACKGROUND
Manhard Consulting, on behalf of GSI Properties, LLC, has requested a reduction in their
irrevocable letter of credit for subdivision improvements for the Derby Pines subdivision to
$88,493,50.
ANALYSIS
Letter of Credit reductions are consistent with Section 17.23.020.F.2 of the Unified
Development Ordinance. The reduction request has been reviewed and accepted by the
Village Engineer.
Consistency with Village Policy
Lemont 2030 Comprehensive Plan
STAFF RECOMMENDATION
Staff is recommending approval of the attached resolution.
BOARD ACTION REQUESTED
A motion to approve the attached resolution.
ATTACHMENTS
Resolution dated 10232023 Authorizing LOC Reduction for Derby Pines Subdivision.pdf
VILLAGE OF LEMONT
RESOLUTION NO. - 1
A RESOLUTION AUTHORIZING A REDUCTION OF A LETTER OF CREDIT FOR THE
DERBY PINES SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 23RD DAY OF OCTOBER, 2023
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Cook, Will and DuPage Counties,
Illinois on this 23rd day of October, 2023.
RESOLUTION NO.
A RESOLUTION AUTHORIZING A REDUCTION OF A LETTER OF CREDIT FOR
THE DERBY PINES SUBDIVISION
WHEREAS, pursuant to the Lemont, Illinois Municipal Code, Title 17 Unified
Development Ordinance, an owner or developer of a subdivision is required to deposit certain
security or evidence thereof with the Village of Lemont to guarantee the installation of
subdivision improvements; and
WHEREAS, in the matter of the Derby Pines subdivision located at 12767 Derby Road
in Lemont, IL, Bank of America, N.A. issued an Irrevocable Letter of Credit No. 68136961 in
the amount of $713,235.75 and was deposited with the Village of Lemont to guarantee
completion of subdivision improvements; and
WHEREAS, GSI Properties, LLC, developer of the Derby Pines subdivision, through
Manhard Consultiong, Ltd. has completed certain improvements and has requested a reduction in
the aforementioned letter of credit; and
WHEREAS, the Village Engineer of the Village of Lemont has inspected certain
portions of the improvements and has found these portions to have been satisfactorily installed;
and
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of
the Village of Lemont that:
1. Irrevocable Letter of Credit No 68136961 is hereby reduced to a balance of
$88,493.50
ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DuPAGE, ILLINOIS, on
this 23rd day of October, 2023.
Janelle Kittridge
Dave Maher
Ken McClafferty
Kevin Shaughnessy
Rick Sniegowski
Ron Stapleton
PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES: NAYS
V
1
ABSENT: ABSTAIN
JOHN EGOSKE, Village President
Attest:
AHALENE M. S OLLEN, Village Clerk
HRGreen.
October 16, 2023
Mr. Jason Berry, CEcD, AICP
Economic & Community Development Director
Village of Lemont
418 Main Street
Lemont, Illinois 60439
Re: Derby Pines Subdivision
Letter of Credit Reduction #3
Dear Jason:
► 323 Alana Drive
New Lenox, IL 60451
Main 815.462.9324 + Fax 713.965.0044
►HRGREEN.0 OM
This letter is to certify that I have reviewed the request from Frank Dimperio, dated 10/11/23, requesting
a new letter of credit value for the LOC shown below and concur with such request. The backup
information submitted by Manhard Consulting is attached with this letter.
- LOC #68136961(Bank of America) reduced to $88,493.50.
This development is close, but does not yet qualify to move into the maintenance phase of the
development yet.
Should you have any questions concerning this matter, please do not hesitate to contact me.
Sincerely,
HR GREEN, INC.
/Z 4 *-'�
Bruce A. Hill, P.E.
Enclosure
cc: Mr. George Schafer, Village Administrator, w/Enc.
Mr. Ralph Pukula, Director of Public Works, w/Enc.
Mr. Jim Begy, P.E., LEED AP BD+C, Building Commissioner, w/ Enc.
Ms. Jamie Tate, AICP, Consulting Planner, w/ Enc.
Ms. Darshana Prakash, Finance Director, w/ Enc.
File No. 2303244
J \2023\2303244\Corr\ltr 101623 2303244 LOC Reduction 93.docx
MR Green'° I Building Communities. Improving Lives.
Derby Pines, LLC
11 Oct 2023
RE: Letter of Credit Reduction
Bruce Hill, PE
HRG Green
323 Alana Drive
New Lenox, II 60451
Dear Mr. Hill
We are requesting the reduction of our current letter of credit to $88,493.50, See attached
EOPC.
Thank you.
Frank Dimperio
"'W
ENGINEER'S OPINION OF PROBABLE COST
hill
DERBY PINES SUBDIVISION
Manhard
LEMONT, ILLINOIS
Approved 10/311201 7
C O N S U L T I N C
Revised 4/18/18 (Sanitary Sewer Complete)
Revised 6/8/18 (Storm Sewer, Watermain, Demolition Complete)
Revised 7/24/18 (Curb, Base Course, Binder Course Complete)
Revised 3124/21 (Retaining Wall, Partial Sidewalk, Partial Final Landscaping Complete)
Revised 1019/23 (Final Landscaping, Sidewalk, Signage Complete)
ITEM
DESCRIPTION QUANTITY REMAINING UNIT UNIT PRICE EXTENSION
SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS
1
Silt Fence (Non -Wire Back)
0
LF
$2.50
$0.00
2
Construction Entrance
0
LUMP SUM
$3,000.00
$0.00
3
Tree Removal - 6" to 15" Diameter
0
UN DIA
$10.00
$0.00
4
Topsoil Stripping and Stockpiling
0
CY
$3.50
$0.00
5
Clay Excavation and Embankment
0
CY
$4.50
$0.00
6
Topsoil Respread and Seeding
0
CY
$112.00
$0.00
7
Erosion Control Blanket (NAG DS-75)
0
SY
$1.50
$0.00
8
Street Parkway Sod Restoration
60
SY
$4.00
$240.00
9
Detention Basin Bottom Landscaping
0
LUMP SUM
$6,500.00
$0.00
10
Detention Basin Slope Landscaping
0
LUMP SUM
$4,300.00
$0.00
11
Gravity Retaining Wall
0
SF
$25.00
$0.00
TOTAL SCHEDULE I - EXCAVATION AND GRADING IMPROVEMENTS $240.00
SCHEDULEII-UNDERGROUNDIMPROVEMENTS
A. SANITARY SEWER IMPROVEMENTS
1
6" PVC Sanitary Sewer Service
0
EACH
$2,000.00
$0.00
2
8" PVC Sanitary Sewer
0
LF
$45.00
$0.00
3
4' Diameter Manhole
0
EACH
$3,500.00
$0.00
4
Trench Backfill
0
LF
$30.00
$0.00
5
8" Directional Bore
0
LF
$200.00
$0.00
6
Connection to Existing Manhole
0
EACH
$1,500.00
$0.00
SUBTOTAL A - SANITARY SEWER IMPROVEMENTS $0.00
B. WATER MAIN IMPROVEMENTS
1
8" DI Water Main
0
LF
$50.00
$0.00
2
8" Valve & Vault, STD 4' Dia. w/FR & Lid
0
EACH
$3,500.00
$0.00
3
10" Insertion Valve
0
EACH
$6,000.00
$0.00
4
1.5" House Service Type K
0
EACH
$1,500.00
$0.00
5
Fire Hydrant with Auxiliary Valve
0
EACH
$4,000.00
$0.00
6
Trench Backfill
0
LF
$30.00
$0.00
7
Pressure Connection
0
EACH
$6,000.00
$0.00
SUBTOTAL B -WATER MAIN IMPROVEMENTS $0.00
C. STORM SEWER IMPROVEMENTS
1
4" Perforated Underdrain
0
LF
$20.00
$0.00
2
12" RCP Storm Sewer Pipe
0
LF
$35.00
$0.00
3
15" RCP Storm Sewer Pipe
0
LF
$40.00
$0.00
4
Precast Concrete Flared End Section w/Grate 12"
0
EACH
$1,600.00
$0.00
5
Precast Concrete Flared End Section w/Grate 15"
0
EACH
$2,000.00
$0.00
6
4'-0" Diameter Catch Basin
0
EACH
$2,500.00
$0.00
7
4'-0" Diameter Outlet Control Manhole
0
EACH
$3,000.00
$0.00
8
Rip Rap w/Fabric
0
SY
$125.00
$0.00
9
Trench Backfill
0
LF
$22.00
$0.00
10
Catch Basin to be Removed
0
EACH
$500.00
$0.00
11
Storm Sewer to be Removed
0
LF
$10.00
$0.00
12
Inlet Filter
0
EACH
$200.00
$0.00
SUBTOTAL C - STORM SEWER IMPROVEMENTS $0.00
"W ENGINEER'S OPINION OF PROBABLE COST
1h DERBY PINES SUBDIVISION
Manhard LEMONY, ILLINOIS
Approved 10/31/2017
C O N S u L T I N c Revised 4/18/18 (Sanitary Sewer Complete)
Revised 6/8/18 (Storm Sewer, Watermain, Demolition Complete)
Revised 7/24/18 (Curb, Base Course, Binder Course Complete)
Revised 3/24/21 (Retaining Wall, Partial Sidewalk, Partial Final Landscaping Complete)
Revised 10/9/23 (Final Landscaping Sidewalk Signage Complete)
ITEM DESCRIPTION QUANTITY REMAINING UNIT UNIT PRICE EXTENSION
TOTAL SCHEDULE II- UNDERGROUND IMPROVEMENTS
SCHEDULE III - ON -SITE ROADWAY IMPROVEMENTS
$0.00
1
Subgrade Preparation - Fine Grading
0
SY
$1.50
$0.00
2
Geotextile Fabric
0
SY
$2.50
$0.00
3
Backfill Curb
0
LF
$1.50
$0.00
4
Hot -Mix Asphalt Base Course - 6"
0
SY
$28.00
$0.00
5
Hot -Mix Asphalt Binder Course, N50 - 1.5"
0
SY
$8.50
$0.00
6
Hot -Mix Asphalt Surface Course, N50 - 1.5"
1820
SY
$9.00
$16,380.00
7
Concrete Curb Type B-6.12
0
LF
$20.00
$0.00
8
Pavement Removal
0
SY
$10.00
$0.00
9
Sawcut Pavement, Full Depth
0
LF
$3.00
$0.00
10
PCC Sidewalk - 5" with Subbase
650
SF
$6.00
$3,900.00
11
Sidewalk Removal
0
SF
$1.50
$0.00
12
Street Sign
0
EACH
$300.00
$0.00
13
Traffic Sign
0
EACH
$300.00
$0.00
14
Street Lights
0
EACH
$5,000.00
$0.00
15
Parkway Tree (3")
5
EACH
$500.00
$2,500.00
16
Traffic Control
0
LUMP SUM
$5,000.00
$0.00
TOTAL SCHEDULE III - ON -SITE ROADWAY IMPROVEMENTS $22,780.00
SUBTOTAL SCHEDULES 1-III $23,020.00
CONTINGENCY @15% $3,453.00
MAINTENANCE $62,020.50
TOTAL $88,493.50
Prepared By: Manhard Consulting, Ltd.
NOTE: This Engineer's Opinion of Probable Cost is made on the basis of Engineer's experience and qualifications using plan
quantities and represents Engineer's best judgment as an experienced and qualified professional engineer generally familiar
with the construction industry. However, since the Engineer has no control over the cost of labor, materials, equipment or
services furnished by others, or over the Contractor's methods of determining prices, or over competitive bidding or market
conditions, or over quantities of work actually performed, Engineer cannot and does not guarantee that proposals, bids or
actual Construction Cost will not vary from Opinions of Probable Cost prepared by Engineer. This Opinion of Probable
Construction Cost is limited to those items stated herein and does not include permit fees, recapture costs, consultant fees,
landscaping, dewatering, maintenance, bonds or the like.