R-83-26 Authorizing a Reduction of Bonds for Gleneagles (Pulte)418 Main Street 0 Lemont, IL 60439
TO: Village Board Meeting
FROM: Jason Berry, Community Development
THROUGH: George Schafer
SUBJECT: A Resolution Authorizing a Reduction of Bonds for Gleneagles (Pulte)
DATE: October 13, 2026
Pulte Homes has requested reductions to two performance bonds securing public
improvements within the Gleneagles subdivision. The requested reductions apply to the Phase
2B and Phase 3 site improvements.
ANALYSIS
The Village Engineer has reviewed the request and supporting documentation and
recommends the following reductions:
RLI Insurance Company Bond No. CMS354705, Phase 2B Site Improvements, from
$1,446,815.75 to $238,681.39.
Lexon Insurance Company Bond No. LICX1979722, Phase 3 Site Improvements, from
$3,224,358.95 to $453,884.66.
The remaining bond amounts will continue to secure completion of the outstanding
improvements.
Consistency with Village Policy
STAFF RECOMMENDATION
Approval of the resolution
BOARD ACTION REQUESTED
Approval of the resolution
ATTACHMENTS
A Resolution Authorizing a Reduction of Bonds for Gleneagles (Pulte)
VILLAGE OF LEMONT
RESOLUTION
NUMBER R-"�-26
A RESOLUTION AUTHORIZING A REDUCTION OF BONDS FOR
GLENEAGLES (PULTE)
JOHN EGOFSKE, Village President
CHARLENE M. SMOLLEN, Clerk
SAMUEL 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 _/19_--2026
RESOLUTION NO. R-- =,24
A RESOLUTION AUTHORIZING A REDUCTION OF BONDS FOR
GLENEAGLES(PULTE)
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 Gleneagles subdivision located west of Bell Road on
McCarthy Road in Lemont, RLI Insurance Company issued Bond No. CMS354705 in the amount
of $1,446,815.75 for Phase 2B Site Improvements, and Lexon Insurance Company issued Bond
No. LICX 1979722 in the amount of $3,224,358.95 for Phase 3 Site Improvements, which bonds
were deposited with the Village of Lemont; and
WHEREAS, Pulte Homes, the developer of the Gleneagles subdivision, has completed
certain improvements and has requested a reduction in the aforementioned bonds; and
WHEREAS, he Village Engineer of the Village of Lemont has reviewed the requested
reductions and supporting documentation and has found certain portions of the improvements to
have been satisfactorily installed.
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:
The bonds listed below are hereby adjusted to the specified balances:
1. RLI Insurance Company Bond (Bond No. CMS354705) is hereby reduced from
$1,446,815.75 to a balance of $238,681.39; and
2. Lexon Insurance Company Bond (Bond No. LICX1979722) is hereby reduced from
$3,224,358.95 to a balance of $453,884.66.
ADOPTED this 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 DAY OF �� 2 2026.
VILLAGE PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES: NAYS
Samuel Forzley
Janelle Kittredge
Ken McClafferty
Kevin Shaughnessy
Rick Sniegowski
Ron Stapleton
Attest.*
®L S
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ABSENT: ABSTAIN:
Approved:
John Ego ske, Village President