R-20-97 Authorizing Letter Of Credit Reduction For Carriage Ridge Unit IVRESOLUTION NO.
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR CARRIAGE RIDGE UNIT IV
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 such improvements; and
WHEREAS in the matter of Carriage Ridge Unit IV, located at Carriage Ridge
Lane & Senon Drive, in Lemont Illinois, an Irrevocable Letter of Credit #96 -500, State
Bank of Countryside, in the amount of $152,264.81 was deposited with the Village of
Lemont on October 24, 1996; and
WHEREAS Jerry Miscovic of Laser Consulting Engineers on behalf of Janas
Construction, developer of Carriage Ridge Unit IV, has made application for a reduction
of the Irrevocable Letter of Credit #96 -500 in the amount of $66,206.87; and
WHEREAS a duly authorized agent of the Village of Lemont has inspected certain
portions of the improvement and has found these portions to have been satisfactorily
installed;
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Lemont that:
SECTION 1: Approval pursuant to the Lemont Subdivision Control Ordinance
is hereby recommended for the improvements completed to date.
SECTION 2: The Irrevocable Letter of Credit #96 -500 is hereby reduced to
$86,057.94.
NOW, THEREFORE BE IT RESOLVED by the President and board of Trustees
of the Village of Lemont that the Irrevocable Letter of Credit No. 96 -500 for Carriage
Ridge Unit IV is hereby reduced to $86,057.94.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGERV4EMONT 0 IES OF COOK, WILL, AND
DU PAGE, ILLINOIS, on this day of ,t , 1997.
Barbara Buschman
Alice Chin
Keith Latz
Connie Markiewicz
Rick Rimbo
Ralph Schobert
Approved by me this
Attest:
AYES NAYS PASSED ABSENT
L/
day of
',tilnr 1J7
ENE M. SMOLLEN, Village Clerk
, 1997.
CHARLENE M. SM
i
LLEN, Village Clerk
, Village President
STRAND
ASSOCIATES. INC.
E N G I N E E R S
2400 Glenwood Avenue
Suite 226
Joliet, Illinois 60435
Phone: (815) 744 -4200
Fax: (815) 744 -4215
March 31, 1997
Village of Lemont
418 Main Street
Lemont, Illinois 60439
Attention: Mr. Scott Buening, Village Planner
Re: Carriage Ridge Estates Unit 4 - Letter of Credit Reduction No. 1
Dear Scott:
We have reviewed the request from Jerry Miskovic of Laser Consulting Engineers on behalf of Janas
Construction, developer of Carriage Ridge Unit 4, for a reduction in their Letter of Credit No. 96 -500.
We recommend the village release holding on the Letter of Credit in the amount of $66,206.87.
Following Letter of Credit Reduction No. 3, the remaining Letter or Credit will break down as follows:
Present Letter of Credit
Work Completed
10% Retainage
Reduction No. 1
Remaining Letter of Credit
If you have any questions or comments, please feel free to call.
Sincerely,
STRAND ASSOCIATES, INC.
/d o�
Mic ael R. Waldron, P.E.
$152,264.81
$73,563.19
$7,356.32
$66,206.87
$86,057.94
424- 774/MRW:DE
cc: Village of Lemont - Steve Jones, Dan Fielding, John Antonopoulos, Joanna Litrell
Joe Janas, Sr. - Janas Construction Co.
Jerry Miskovic - Laser Consulting
EXCELLENCE IN ENGINEERING SINCE 1946
Madison, WI • Louisville, KY • PEH - Lexington, KY