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R-396-96 01/22/96VC3 RESOLUTION NO. , n no RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION FOR HARPER'S GROVE 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 such improvements; and WHEREAS in the matter of Harper's Grove Subdivision, located west of State Street and southeast of Emerald Acres, an Irrevocable Letter of Credit #101 -154, First United Bank, in the amount of $280,940.85 was deposited with the Village of Lemont on December 7, 1995 to cover remaining public improvements; and WHEREAS Mallard Development Company has made application for a reduction of the Irrevocable Letter of Credit #101 -154 in the amount of $116,500.47; 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: Preliminary approval pursuant to the Lemont Subdivision Control Ordinance is hereby granted for the improvements identified in Attachment A and attached hereto. SECTION 2: The Irrevocable Letter of Credit #101 -154 is hereby reduced to $164,440.31. NOW, THEREFORE BE IT RESOLVED by the President and board of Trustees of the Village of Lemont that the Irrevocable Letter of Credit No. 101 -154 for Harper's Grove Subdivision is hereby reduced to $164,440.31. 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 ih- .day of A , 1996. AYES NAYS PASSED ABSENT Barbara Buschman t/ Alice Chin [1 Keith Latz �r Connie Markiewicz Rick Rimbo Ralph Schobert v Approved by me this day of CHARLENE M. SMOLLEN, Village Clerk , 1996. I r,RLENE M. M • " LEN, Village Clerk ASNESKI, Village President STRAND ASSOCIATES. INC. ENGINEERS 2400 Glenwood Avenue Suite 226 Joliet, Illinois 60435 (815) 744 -4200 December 1, 1995 Village of Lemont 418 Main Street Lemont, Illinois 60439 Attention: Ms. Dana Jenkins, Community Development Director Re: Harpers Grove - Letter of Credit Reduction No. 5 Dear Dana: Mallard Development Company is requesting that the Village release the Letter of Credit (LOC) retainage held for work completed through LOC Reduction No. 4. To further justify this reduction request, Mallard Development Company has noted that progress towards completion of all improvements has continued since that time. However, they are not seeking any reduction in the Letter of Credit for work completed. Holding of 10% retainage on work completed is required by Village of Lemont Ordinance No. 456, and approval of this request should be at the Village Board's discretion. The present LOC breaks down as follows: Remaining LOC Work to be completed 10% Retainage being held CONSTRUCTION 125% MARK -UP PER COST ESTIMATE ORDINANCE 824 $224,752.63 $280,940.78 131,552.25 164,440.31 93,200.38 $116,500.47 Mallard Development Company is requesting that $116,500.47 be released from their LOC. This will leave $164,440.31 to complete work on site and secure the site improvements until the Village accepts the subdivision. Wisconsin Office • 910 West Wingra Drive • Madison, Wisconsin 53715 • (608) 251 -4843 Village of Lemont Page 2 December 1, 1995 Construction progress on the site since LOC Reduction No. 4 is detailed below. 1. Lift station driveway was completed. 2. 50% of on -site sidewalk has been completed. 3. Street lights were installed, but are neither wired nor operational. 4. 25 % of the required landscaping and trees have been constructed. CONSTRUCTED COST ESTIMATE $1,620.00 $36,559.00 $6,000.00 $3,200.00 Based on the February 23, 1995 letter from the Village of Lemont to Mallard Development Company (copy enclosed), advising that Letter of Credit reductions will require completion of each component, we do not recommend that the Village consider items #2, #3, and #4 completed. Therefore, considering only the completed cost of No. 1, the estimated cost to complete the work on -site would be $129,932.25, which is $162,415.31 at the 125% mark up. If you have any questions or comments, please feel free to call. Sincerely, STRAND ASSOCIATES, INC. Robert A. Davis, P.E. 424 - 723 /MRW:DE cc: Steve Jones - Village Administrator Scott Buening - Village Planner Dan Fielding - Director of Public Works John Antonopoulos - Village Attorney Matt Klabisch - Mallard Development Vichael R. Waldron STRAND ASSOCIATES. INC ROBERT D. GOLDSTINE** RICHARD J. SKRODZKI THOMAS P. RUSSIAN KENNETH J. NEMEC, JR. HOWARD M. HOFF DONALD S. ROTHSCHILD, LTD.* WILLIAM H. HRABAK, JR. CRAIG T. MARTIN' DOUGLAS N. DuPONT GWENDOLYN J. STERK* * MARK C. GROSS CHRISTINE A. BOYLE L. MIA FOSSA* * * 'OF COUNSEL • •ALSO ADMITTED IN INDIANA "'ALSO ADMITTED I_N NEW .JERSEY LAW OFFICES OF GOLDSTINE, SICRODZKI, RUSSIAN, NEMEC AND HOFF, LTD. A PROFESSIONAL CORPORATION 7660 WEST 62ND PLACE SUMMIT, ILLINOIS 60501 TELEPHONE (708) 458 -1253 FACSIMILE (708) 458 -0271 VIA FAX TRANSMISSION (708) 257 -1598 AND REGULAR MAIL January 2, 1996 Dana L. Jenkins, Community Development Director Village of Lemont 418 Main Street Lemont, Illinois 60439 RE: Harper's Grove Subdivision Letter of Credit No. 101 -133 Dear Dana: BY APPOINTMENT ONLY ORLAND PARK OFFICE 8400 WEST 159TH STREET ORLAND PARK, ILLINOIS 80482 In accordance with our previous discussions, Mallard Development Co. is requesting the release of $116,500.47 of the above Letter of Credit. This amount represents a 10% "retainage" that has been held by the Village from each Letter of Credit reduction. As we have discussed, I do not find authorization in the Village of Lemont Subdivision Ordinance for this 10% "retainage ". Additionally, the Annexation Agreement for the Harper's Grove Subdivision, dated January 24, 1994, in Article XI, entitled "Letters of Credit" provides in pertinent part that reductions in the Letter of Credit shall be by the corresponding percentage of the amount posted. Pursuant to correspondence dated December 1, Engineer, Strand Associates, the current amount of Credit is $280,940.78. The work remaining the Harper's Grove Subdivision at 125% is $162 1995, from Village of the above Letter to be completed in ,415.31. Thus, we make the request for the reduction in the Letter of Credit at this time of $116,500.47. Ms. Dana L. Jenkins January 2, 1996 Page Two Finally, I understand that the Village has concerns regarding the status of miscellaneous public improvements at the Harper's Grove Subdivision. As I indicated to you, I am willing to recommend to my client that we schedule a meeting as soon as possible with the Village staff to resolve any problems. I look forward to your immediate response. Very trgly yo�,rs, Lk,' t4 ,j Richard J. Skrodzki RJS /jak cc: Michael Harper (Via Fax Transmission) Matthew M. Klabisch (Via Fax Transmission) 03.,"14/1996 ©9:56 18154620755 MALLARD DEVELOPMENT Mallard Development Co. Developers & Builders 14408 W. Edison Dr. Unit 1 E PAGE 01 D°ctAr� New Lenox. IL 60451 '\,'r DATE: 01/10/95 TO: FLAHERTY CONSTRUCTION, MERNEL CONSTRUCTION, AND LYNN & RYAN BUILDERS FROM: MATT KLABISCH MALLARD DEVELOPMENT CO. RE: STREET CLEANING & DEBRIS REMOVAL Dear builders, The village has brought to our attention that there are several problems with the maintenance and appearance of the Harper's Grove Subdivision due to the on -going construction: 1.) The staff and several village trustees have noted that there is scattered construction debris throughout the site and it is highly visible from State Street. The entire site needs to be cleaned up immediately. 2.) Another problem noted was the condition of the roadways and curbline. The roadways and curbline need to be free of any silt, stone, clay, etc. especially this time of year with public works trying to plow the streets. Any frozen material in the roadways or curbline could pose a serious threat to the safety of the public works department. It is required that at the end of each day the builder cleans the roadway and curbline. 3.) Manholes, B- boxes, valves inlets, etc. need to be left undamaged and in the condition that they were in when you acquired the lots. 4.) Driving track machines over curb or on pavement is STRICTLY PR0IIBITED!!!! Phone (815) 462 -0655 Fax (815) 462 -0755 ..996 09:56 1815462 0755 MALLARD DEVELOPMENT PAGE 02 Mallard Development Co. Developers & Builders 14408 W. Edison Dr. Unit 1 E New Lenox. IL 60451 5.) Any excavation work around detention ponds must include erosion control to protect siltation and elevation changes. 6.) Any manholes or valve boxes that are not visible due to moving of dirt need to be exposed and regraded correctly. We appreciate your immediate attention to these matters. Matthew Klabisch cc: Dan Fielding ;/Dana Jenkins Mike Waldron Rick Skrodzki Phone (815) 462 -0655 Fax (815) 462 -0755