R-7-24 Authorizing a Reduction of a Cash Bond for Mary Ellen Woods418 Main Street I Lemont, IL 60439
TO: Village Board Meeting
FROM: Jason Berry, Community Development
THROUGH:
SUBJECT: A Resolution Authorizing a Reduction of a Cash Bond for Mary Ellen
Woods
DATE: January;qt,''2024
SUMMARY/BACKGROUND
Phil Cullen, on behalf of Mary Ellen Woods, LLC, has requested a reduction in their Cash
Bond for subdivision improvements for the Mary Ellen Woods subdivision from $618,000.00 to
$381,897.00. This is their first reduction request.
ANALYSIS
Letter of Credit reductions are consistent with Section 17.23.020.F.2 of the Unified
Development Ordinance (UDO). The reduction request has been reviewed and accepted by
the Village Engineer.
Consistency with Village Policy
STAFF RECOMMENDATION
Approve the Resolution.
BOARD ACTION REQUESTED
Motion to Approve the Resolution.
ATTACHMENTS
A Resolution Authorizing a Reduction of a Cash Bond for Mary Ellen Woods
VILLAGE OF LEMONT
RESOLUTION
NUMBER R-�-,f -24
A RESOLUTION AUTHORIZING A REDUCTION OF A CASH BOND
FOR MARY ELLEN WOODS
JOHN EGOFSKE, Village President
CHARLENE M. SMOLLEN, Clerk
JANELLE KITTRIDGE
DA VE MAHER
KEN MCCLAFFERTY
KEVIN SHA UGHNESSY
RICK SNIEGOWSKI
RON STAPLETON
Trustees
Published in pamphlet form by authority of the Village President and Board of Trustees of the Village of Lemont on —L-- c2024
RESOLUTION NO. R- 'T -24
A RESOLUTION AUTHORIZING A REDUCTION OF A CASH BOND
FOR MARY ELLEN WOODS
WHEREAS, pursuant to the Lemont Unified Development Ordinance of 2008 ("UDO"),
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 public improvements; and
WHEREAS, in the matter of the Mary Ellen Woods subdivision located north of Roberta
Street and west of Walter Street in Lemont, Greater Illinois Title Co. provided a cash bond for
account # 2654358 in the amount of $618,000.00 and was deposited with the Village of Lemont
to guarantee completion of subdivision improvements; and
WHEREAS, Phil Cullen, on behalf of Maryellen Woods LLC, developer of the Mary
Ellen Woods subdivision, has completed certain improvements and has requested a reduction in
the aforementioned cash bond; 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.
NOW, THEREFORE BE IT RESOLVED by the Village President and Board of
Trustees of the Village of Lemont, Cook, Will, and DuPage Counties, Illinois, as follows:
SECTION 1: RECITALS
That the above recitals and legislative findings are found to be true and correct and are
hereby incorporated herein and made a part hereof, as if fully set forth in their entirety.
SECTION 2:
Greater Illinois Title Co. cash bond for account #2654358 is hereby reduced to a balance
of $381,897.00.
ADOPTED this day of ssahkka L , 2024.
PASSED AND APPROVED BY THE VILLAGE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND
DUPAGE, ILLINOIS, ON THIS _ S P" 1�AY OF 4-� Ah tka , 2024.
VILLAGE PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES:
NAYS: ABSENT: ABSTAIN:
Janelle Kittridge v
Dave Maher
Ken McClafferty
Kevin Shaughnessy V
Rick Sniegowski
Ron Stapleton
Attest:
Approved:
John Egofske, Village President
0h46
arlene M. Smollen, Villa Clerk
�C L I NANO