R-22-26 Authorizing a Reduction of a Letter of Credit for the Hoffman Resubdivision`EIVIONT
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418 Main Street ( Lemont, IL 60439
TO: Village Board Meeting
FROM: Jason Berry, Community Development
THROUGH: +-
SUBJECT: A Resolution Authorizing a Reduction of a Letter of Credit for the Hoffman
Resubdivision
DATE: March 23, 2026
SUMMARY/BACKGROUND
The Hoffman Resubdivision is subject to a required Letter of Credit (LOC) to guarantee
completion of public improvements in accordance with the Lemont Unified Development
Ordinance. Hinsdale Bank and Trust issued Irrevocable Letter of Credit No. 10001966 in the
amount of $66,000.00.
The Village Board previously approved a reduction of the LOC; however, the resolution
contained an incorrect LOC number and amount. This item corrects that error and authorizes
the reduction to a remaining balance of $9,380.55, consistent with the Village Engineer's
review and recommendation.
The subdivision is not eligible to transition to the two-year maintenance period at this time, as
only one of the four proposed homes has been constructed.
ANALYSIS
Consistency with Village Policy
STAFF RECOMMENDATION
Approval of the resolution.
BOARD ACTION REQUESTED
Approval of the resolution.
ATTACHMENTS
A Resolution Authorizing a Reduction of a Letter of Credit for the Hoffman Resubdivision
VILLAGE OF LEMONT
RESOLUTION
NUMBER R--2Z--
A RESOLUTION AUTHORIZING A REDUCTION OF A LETTER OF
CREDIT FOR THE HOFFMAN RESUBDIVISION
JOHN EGOFSKE, Village President
CHARLENE M. SMOLLEN, Clerk
SAMUEL J. FORZLEY
JANELLE KITTRIDGE
KEN MCCLAFFERTY
KEVIN SHA UGHNESSY
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 . - 23 -2026
RESOLUTION NO. R-2=
A RESOLUTION AUTHORIZING A REDUCTION OF A LETTER OF
CREDIT FOR THE HOFFMAN RESUBDIVISION
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, the Village of Lemont previously adopted Resolution No. R-06-26
authorizing a reduction of a Letter of Credit for the Hoffman Resubdivision; and
WHEREAS, Resolution No. R-06-26 incorrectly referenced Irrevocable Letter of Credit
No. 2898909777 in the amount of $66,671.25; and
WHEREAS, the correct Letter of Credit for the Hoffman Resubdivision is Irrevocable
Letter of Credit No. 10001966 issued by Hinsdale Bank and Trust Company in the amount of
$66,000.00; and
WHEREAS, the Village Engineer has reviewed the request for a letter of credit reduction,
has inspected the applicable improvements, and has found the completed improvements to have
been satisfactorily installed, and has recommended a reduction of the letter of credit to a
remaining balance of $9,380.55.
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:
We hereby authorize the reduction of Letter of Credit Number 10001966 by USD
$56,619.45 to USD $9,380.55.
APPROVED this 15 day of , 2026.
PASSED AND APPROVED BY THE VILLAGE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND
DUPAGE, ILLINOIS, ON THIS 13 DAY OF _M& <r , 2026.
VILLAGE PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES: NAYS:
ABSENT: ABSTAIN:
V
Samuel J. Forzley
Janelle Kittridge
V
Ken McClafferty
Kevin Shaughnessy
Rick Sniegowski
Ron Stapleton
Attest:
Approved:
Jon gofske, Village President
Charlene M. Smollen, Village Clerk
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