R-67-07 Authorizing Acceptance of Public Improvements/LOC for S. Point Subdiv.RESOLUTION NO. (- 6°Z -o7
RESOLUTION AUTHORIZING ACCEPTANCE OF PUBLIC IMPROVEMENTS
AND THEREBY RELEASING LETTER OF CREDIT
FOR SOUTH POINTE SUBDIVISION
WHEREAS, pursuant to the Subdivision Regulations, 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 South Pointe Subdivision, located at approximately 132nd
Street and Gordon Lane, Irrevocable Letter of Credit #2003 -1375, drawn on Marquette Bank,
in the amount of $760,200.00 was deposited with the Village of Lemont on August 21, 2003;
and
WHEREAS, Phil Cullen and William Brennan, d /b /a Eagle Ridge Enterprises, Inc., made
application for a reduction of the Irrevocable Letter of Credit #2003 -1375 and following the
satisfactory inspection by a duly authorized agent of the Village of Lemont, on January 24,
2004, the Village Board of Trustees reduced the Irrevocable Letter of Credit #2003 -1375 to a
balance of $159,504.41; and
WHEREAS, Messrs. Cullen and Brennan, d /b /a Eagle Ridge Enterprises, Inc., have
asked the Village of Lemont to accept the public improvements at South Pointe Subdivision
in Lemont and release the Letter of Credit; and
WHEREAS, Village Engineer James Cainkar has duly inspected the public
improvements at South Pointe Subdivision, found them to be satisfactory, and has
recommended that the Village of Lemont accept the public improvements with conditions;
and
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the Village
of Lemont that the public improvements at the South Pointe Subdivision are hereby
accepted, and the Village will release Irrevocable Letter of Credit #2003 -1375 subject to the
-2-
following conditions:
1. That the Village is in receipt of a two -year Maintenance Letter of Credit in the
amount of $76,020.00; and
2. The Village is in receipt of a title commitment, deed, paid tax bill, and bill of
sale for utilities.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE
OF LEMONT, COUNTIES OF COOK, WILL, AND DU PAGE, ILLINOIS, on this 5th day of November,
2007.
Debby Blatzer
Peter Coules
Clifford Miklos
Brian Reaves
Ron Stapleton
Jeanette Virgilio
ATTEST:
AYES NAYS PASSED ABSENT
APPROVED by me this 51h day of November, 2007.
&L.-diem
JOHN ; PIAllA, Village ' esiden
CHARLENE M. SMOLLEN, Village Clerk
M: \COMMUNITY DEVELOPMENT DEPT200 - DEVELOPMENT1250 - CASE FILES12002122.26 -South Pointe \SthPt LOC Res.wpd
"3"
Village of Faith
Mayor
John F. Piazza
Village Clerk
Charlene M. Smollen
Trustees
Debby Blatzer
Peter Coules
Clifford Miklos
Brian Reaves
Ronald Stapleton
Jeanette Virgilio
Administrator
Gary C. Holmes
Administration
phone (630) 257 -1590
fax (630) 243 -0958
Building Department
phone (630) 257 -1580
fax (630) 257 -1598
Community Development
phone (630) 257 -1595
fax (630) 257 -1598
Engineering Department
phone (630) 257-2532
fax (630) 257 -3068
Finance Department
phone (630) 257 -1550
fax (630) 257 -1598
Police Department
416 Main Street
phone (630) 257 -2229
fax (630) 257 -5087
Public Works
16680 New Avenue
phone (630) 257 -2532
fax (630) 257 -3068
www.lemont.il.us
Mr. James Brown
Community Development Director
Village of Lemont
418 Main Street
Lemont, Illinois 60439
Re: Eagle Ridge Estates Subdivision
Dear Jim:
Village of Lemont
418 Main Street • Lemont, Illinois 60439
October 25, 2007
I have inspected the above - captioned Subdivis'r_cn and recommend the
acceptance of same. Please note that the Developer will needi"o /o 'slip
maintenance bond in order to er the 2 -year maintenance period�� me/•
c lam/
Should you have any questions concerning this matter, please do not
hesitate to contact me.
Very truly yours,
VILLA , -' EMONT
J." s L. Cain ar, .E., P.L.S.
Acting Village Engineer
JLC /debi
Enclosure
cc: Mr. Gary C. Holmes, Administrator, w /Enc.
Mr. Dan Fielding, Director of Public Works, w /Enc.
Mr. Peter A. Krumins, Planner, w /Enc.
Mr. Lynn Stratton - Cholewa, Adm. Assistant, w /Enc.
Project File No. 01191