R-88-24 Authorizing the Release of the Letter of Credit for Willow Pointe (Beechen & Dill)VILLAGE OF
�&VEMONT 418 Main Street I Lemont, IL 60439
TO: Village Board Meeting
FROM: Jason Berry, Community Development
THROUGH:
SUBJECT: A Resolution Authorizing the Release of the Letter of Credit for Willow
Pointe (Beechen & Dill)
DATE: November 25, 2024
SUMMARY/BACKGROUND
The Village of Lemont is authorizing the release of two Letters of Credit (LOCs) for the Willow
Pointe subdivision, concluding the developer's maintenance obligations. The action involves:
• Reduction of LOC #2018-1645 from $126,385.48 to $0.
• Reduction of LOC #2022-1669 from $25,000 to $0.
The Village Engineer, Bruce A. Hill, P.E. of HR Green, Inc., provided a formal letter certifying
that the two-year maintenance period for Willow Pointe has concluded, and all conditions tied
to the LOCs have been met. The subdivision's public improvements were previously accepted
under Resolution No. R-28-22, adopted on June 13, 2022. With no deficiencies remaining, the
subdivision is now fully transferred to the Village.
This resolution completes the financial and maintenance obligations of the developer, Willow
Pointe LLC, regarding public improvements such as infrastructure and detention basin
plantings. The release of these LOCs signifies the Village's satisfaction with the developer's
compliance.
ANALYSIS
Consistency with Village Policy
STAFF RECOMMENDATION
Motion to Approve
BOARD ACTION REQUESTED
Motion to Approve
ATTACHMENTS
A Resolution Authorizing the Release of the Letter of Credit for Willow Pointe (Beechen & Dill)
VILLAGE OF LEMONT
RESOLUTION
NUMBER R-24
A RESOLUTION AUTHORIZING THE RELEASE OF THE
LETTER OF CREDIT FOR WILLOW POINTE (Beechen & Dill)
JOHN EGOFSKE, Village President
CHARLENE M. SMOLLEN, Clerk
JANELLE KITTRIDGE
DA VE MAHER
KEN MCCLAFFERTY
KEVIN SHAUGHNESSY
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 9 1 -2- -2024
RESOLUTION NO. R- 9�-124
A RESOLUTION AUTHORIZING THE RELEASE OF THE
LETTER OF CREDIT FOR WILLOW POINTE (Beechen & Dill)
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, certain real property has been dedicated to the Village, as depicted on the
Willow Pointe Plat of Subdivision (attached hereto as Exhibit A), for the purpose of public
infrastructure; and
WHEREAS, in the matter of the Willow Pointe subdivision, owned and developed by
Willow Pointe LLC, located generally south of 131 st Street, and east of Parker Road in the Village
of Lemont, Marquette Bank issued Irrevocable Letter of Credit No. 2018-1645 and #2022-1669
and was deposited with the Village of Lemont to guarantee completion of public improvements
in said subdivision; and
WHEREAS, Scott D. Schreiner, PE, of Designtek Engineering, Inc., on behalf of Willow
Point, LLC, developer of the Willow Pointe subdivision, requested acceptance of public
improvements in Willow Point and provided a Bill of Sale in connection with same, and said
public improvements were accepted by the Village pursuant to Resolution No. R-28-22, adopted
June 131h 2022; and
WHEREAS, the subdivision maintenance period mandated by the Lemont UDO has
expired with no further action being required, thereby warranting a full reduction and release of
the aforementioned letter of credit.
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 frilly set forth in their entirety.
SECTION 2:
LOC #2018-1645 issued by Marquette Bank reduced from $126,385.48 to $0.00 (Zero)
and released. LOC #2022-1669 issued by Marquette Bank reduced from $25,000.00 to to $0.00
(Zero) and released.
ADOPTED this day of A,)V%, 2024.
PASSED AND APPROVED BY THE VILLAGE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE F LEMONTn, COUNTIES PF COOK, WILL, AND
DUPAGE, ILLINOIS, ON THIS �-:5 DAY OF I� i ��1 i� , 2024.
VILLAGE PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES: NAYS: ABSENT: ABSTAIN:
Janelle Kittridge V/
Dave Maher
Ken McClafferty V
Kevin Shaughnessy
Rick Sniegowski
Ron Stapleton
Approved:
John Egofske, Village President
Attest:
AK
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Charlene M. Smollen, Village Clerk
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