R-474-97 Authorizing release of letter of credit for hirsekorn ridge subdivisionRESOLUTION NO. 4 7 14
RESOLUTION AUTHORIZING RELEASE OF LETTER OF CREDIT FOR
HIRSEKORN RIDGE 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 Hirsekorn Ridge Subdivision, located on the north side
of McCarthy Road and west of Carriage Ridge Estates Units I & II in Lemont, Illinois, an
Irrevocable Letter of Credit #95 -437, State Bank of Countryside, in the amount of
$400,000.00 was deposited with the Village of Lemont on September 18, 1995 to cover
remaining public improvements; and
WHEREAS Hirsekorn -Janas Partnership has made application for release of the
Irrevocable Letter of Credit #95 -437; 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 site work covered under Letter of Credit #95 -437 has been
satisfactorily completed.
SECTION 2: The Irrevocable Letter of Credit #95 -437 is hereby released.
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees
of the Village of Lemont that the Irrevocable Letter of Credit #95 -437 for Hirsekorn Ridge
Subdivision is hereby released.
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 /3 day of , 1997.
Barbara Buschman
Alice Chin
Keith Latz
Connie Markiewicz
Rick Rimbo
Ralph Schobert
AYES
V
V
V
V
NAYS
PASSED ABSENT
HARLENE M. SMOL EN, Village Clerk
Approved by me this /3day of 141
Attest:
, 1997.
tip
• CHARD . KWASNESKI, Village President
LENE M. SMOL EN, Village Clerk
01/06/97 MON 07:50 FAX 8157444215
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STRAND
AS2OCtATES. INC.
F N G I N e e R 5
910 West Wirlgra Drive
Madison, Wisconsin 53715
(608) 251 -4843
January 6, 1997
Village of Lemont
418 Main Street
Lemont, Illinois 60439
STRAND ASSOCIATES INC. fa 002
Attention: Mr. Scott Buening, Village Planner
Re: Hirsekom Ridge
Letter of Credit No. 95 -437, Reduction No. 3
Dear Scott:
We have reviewed the request from Laser Engineers on behalf of Janas- Hirsekorn Partnership for
reduction to Letter of Credit No. 95-437 in its entirety. We recommend that the Village release holding
on Letter of Credit No. 95-437 in the amount of $173,854.04 provided that the developer submit to
the Village of Lemont partial lien waivers for work completed to date.
If you have any questions or comments, please feel free to call_
Sincerely,
STRAND. ASSOCIATES, INC.
Michael R. Waldron, P.E.
424- mmitW:DE
cc: Steve Jones, Dan Fielding, John Antonopoulos - Village of Lemont
Joe Janos, Sr. - Janas- Hirsekorn Partnership
Jerry Miskovic - Laser Consulting Engineers
Illinois Office • 2400 Glenwood Avenue • Suite 226 • Joliet. Illinois 60435 • (815) 744 -4200