R-62-24 Authorizing a Reduction of an Escrow for Martinez SubdivisionVILLAGE OF 9 ~ b2 .-)_ I
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EMONT 418 Main Street I Lemont, IL 60439
TO: Village Board Meeting
FROM: Jamie Tate, Community Development
THROUGH: Jason Berry, CEcD, AICP, Economic & Community Development Director
SUBJECT: A Resolution Authorizing a Reduction of an Escrow for Martinez
Subdivision
DATE: August 12, 2024
SUMMARY/BACKGROUND
An Escrow Agreement and escrow payment was provided to the Village of Lemont to provide
security for the development of the Martinez Subdivision on 129th Street in Lemont. The
developer's engineer, DesignTek Engineering, has submitted a request for the reduction of the
escrow after the completion of the associated public improvements.
ANALYSIS
The Village Engineer has reviewed the reduction request and recommends approval. The
subdivision will go into the two-year maintenance period following the reduction request.
Consistency with Village Policy
Lemont 2030 Comprehensive Plan
STAFF RECOMMENDATION
Staff recommends approval of the attached resolution.
BOARD ACTION REQUESTED
A motion to approve the attached resolution.
ATTACHMENTS
A Resolution Authorizing a Reduction of an Escrow for Martinez Subdivision
VILLAGE OF LEMONT
RESOLUTION
NUMBER R--24
A RESOLUTION AUTHORIZING A REDUCTION OF AN ESCROW
FOR MARTINEZ SUBDIVISION
JOHN EGOFSKE, Village President
CHARLENE M. SMOLLEN, Clerk
JANELLE KITTRIDGE
DA VE MAHER
KEN MCCLAFFERTY
KEVINSHAUGHNESSY
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 —s---A7-2024
RESOLUTION NO. R-61-24
A RESOLUTION AUTHORIZING A REDUCTION OF AN ESCROW
FOR MARTINEZ SUBDIVISION
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 Martinez subdivision located at 15368 129th Street in
Lemont, an Escrow Agreement with an escrow deposit of $40,000.00 to the Village of Lemont
was provided prior to the development; and
WHEREAS, DesignTek Engineering, on behalf of Bertha Martinez, the developer of the
Martinez subdivision, has completed certain improvements and has requested a reduction of the
escrow; 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 and
recommends the development to transfer into the two (2) year maintenance period.
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:
The escrow amount with the Village shall be reduced from $40,000 to $6,367.20.
ADOPTED this 12. day of /7 t 5 , 2024.
PASSED AND APPROVED BY THE VILLAGE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF LEMONT COUNT OF COOK, WILL, AND
DUPAGE, ILLINOIS, ON THIS ?- DAY OF u s , 2024.
VILLAGE PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES: NAYS
Janelle Kittridge
Dave Mahery
Ken McClafferty
Kevin Shaughnessy
Rick Sniegowski
Ron Stapleton
Attest:
Charlene M. Smollen, Village Clerk
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ABSENT: ABSTAIN:
Approved:
ohn Egofske, Village President