R-22-06 03/27/2006VILLAGE OF LEMONT
RESOLUTION NO. 0 6
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR LIMESTONE OF LEMONT SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 27TH DAY OF MARCH, 2006
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Cook, Will and DuPage Counties,
Illinois on this 27th day of March, 2006.
RESOLUTION NO.Laa
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR LIMESTONE OF LEMONT 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 Limestone of Lemont subdivision located at 13640 to 13670
McCarthy Road in Lemont, on August 18, 2004, Irrevocable Documentary Credit No. 0221025856
issued by Park Federal Savings Bank in the amount of $178,498.40 was deposited with the Village
of Lemont for mass grading purposes; and
WHEREAS, on November 23, 2004, Irrevocable Documentary Credit No. 20059441 issued
by Park Federal Savings Bank in the amount of $1,334,770.14 was deposited with the Village of
Lemont to guarantee completion of public improvements in Lemont; and
WHEREAS, Paul Klabacha, President of Clayback Development, LLC, has made
application for the release of Irrevocable Documentary Credit No. 0221025856, and a reduction to
Irrevocable Documentary Credit No. 20059441 to a balance of $388,795.57; 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 Irrevocable Documentary Credit No. 0221025856 is hereby released, and
Irrevocable Documentary Credit No. 20059441 is hereby reduced to $388,795.57.
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 27th day of March, 2006.
Debby Blatzer
Peter Cowles
Clifford Miklos
Brian Reaves
Ron Stapleton
Jeanette Virgilio
AYES NAYS PASSED ABSENT
APPROVED by me this 27th day of March, 2006.
JOHN PIAZZA, Village Pre
ATTEST:
CHARLENE M. SMOLLEN, Village Clerk
nt
L: \COMMUNITY DEVELOPMENT DEPIILETTERS of CREDITV2000 Resolutions -Hoard Memos- LetterskLimes tone LOC Red RES.wpd
2
Village of Lemont
418 Main Street • Lemont, Illinois 60439
Village of Faith March 13, 2006
Mayor
John F. Piazza
Village Clerk
Charlene M. Smollen
Trustees
Debby Blatzer
Peter Coules
Clifford Miklos
Brian Reaves
Ronald Stapleton
Jeanette Virgilio
Administrator
Gary C. Holmes
Administration
phone (630) 257 -1590
fax (630) 243 -0958
Building Department
phone (630) 257 -1580
fax (630) 257 -1598
Community Development
phone (630) 257 -1595
fax (630)257 -1598
Engineering Department
phone (630)257 -2532
fax (630)257 -3068
Finance Department
phone (630) 257 -1550
fax (630) 257 -1598
Police Department
416 Main Street
phone (630) 257 -2229
fax (630) 257 -5087
Public Works
14574 127th Street
phone (630) 257.2532
fax (630) 257 -3068
www.lemont.il.us
Mr. James Brown
Community Development Director
Village of Lemont
418 Main Street
Lemont, Illinois 60439
Re: Limestone PUD
Letter of Credit Reduction
Dear Jim:
The developer of Limestone PUD has requested a reduction in their Letter of Credit amount.
By my calculations, the new Letter of Credit value should be as follows:
Revised Letter
of Credit Amount
A. Mass Grading Letter of Credit $ 0.00 (Release it)
B. Infrastructure Letter of Credit
Remaining Work $219,764.00
115% of $219,764.00 $252,728.60
Plus
Allowance for Maintenance Bond
Original Estimate of
Cost Amount $1,160,669.69
10% of $1,160,669.69 $ 116,066.97
Total Remaining Letter of Credit Required $ 368,795.57
The Developer has requested a partial acceptance of the underground utility and drainage
system. In my opinion, it is too early to address this request.
Should you have any questions concerning this matter, please do not hesitate to contact me.
Sincerely,
VILLAGE O .i !iONT
7
Jafhes L. Cainkar, P.E., P.L.S.
Acting Village Engineer
JLC /debi
Enclosures
cc: Mr. Gary C. Holmes, Administrator, w /Enc.
Mr. Dan Fielding, Director of Public Works, w /Enc.
Clayback LLC, w /Enc.
Project File No. 04152
February 23, 2006
Mr. James L. Cainkar
Village of Lemont
418 Main Street
Lemont, IL 60439
RE: Limestone Subdivision
Request for Letter of Credit Reduction
Dear Mr. Cainkar:
In accordance with the provisions of the Village of Lemont Ordinances, and per your request,
we are submitting two copies each of the `Record Drawings" for the subdivision improvements
for review and approval.
In addition to the plans, and on behalf of Clayback Development LLC, we are also submitting
the formal Requests for Letter of Credit Reductions (LOCR) for the completed public
improvements and Mass Grading Improvements that have been completed.
In regard to the Mass Grading Letter of Credit, we are requesting a reduction from the original
LOC amount of $178,498.40 to a new amount of $33,580.00. There is no maintenance bond
requested for these improvements.
The LOC for Infrastructure Improvements has been reduced from the original amount of
$1,126,263.64 to a revised amount of $219,764.09. In addition, because the sanitary sewer,
water main, and storm sewer improvements are completed, we are requesting a maintenance
bond be established for the completed utilities in the amount of 10% of the original LOC, or a
total amount of $97,935.97.
Please review the Record Drawings and the submitted LOCR for recommendation of approval
to the Village of Lemont. Should you have any questions or require additional copies, please do
not hesitate to contact Paul or myself.
Sincerely,
V3 CO u NIES OF ILLINOIS, LTD.
Rick Kipp, P.E.
Senior Project Manager
cc: Paul Klabacha — Clayback Development w /copy
Linda Aouf — V3
V ihiQn
vedg„
viKtita
E:\ 20021020741Correspondence1L02074 James Caincar 022306 LOCR request.doc
V3 COMPANIES OF ILLINOIS LTD. • 7325 JANES AVENUE, WOODRIDGE, IL 60517 • PH: 630.724.9200 • FX: 630.724.9202 • V3CO.COM
CHICAGO
DENVER PHOENIX
February 23, 2006
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3.0 WATER SUPPLY SYSTEM` QUANTITY UNITS PRICE COST
3.01 12" D.I.W.M. 1,729 1.f. 35.00 $60,515.00
3.02 8" D.I.W.M. 1,393 1.f 22.00 530,646.00
03 Short Side 1-1/2" Water Services (Complete) 16 ea. 5650.00 510,400.00
3.04 Long Side 1 -1/2 Water Services (Complete) 17 ea. 51,200.00 520,400.00
3.05 8" Valve in Valve Box 5 ea. $1,400.00 57,000.00
3.06 12" Valve in 4' Dia.Vault 4 ea. 52,500.00 510,000.00
3.07 12" Pressure Connection in 5' Dia.Vault Vault 2 ea. 53,000.00 56,000.00
3.08 Fire Hydrantw /Auxiliary Valve 11 ea. 51,750.00 $19,250.00
3.09 Auger & Case 12" WM under existing ROW's 180 l.f. $225.00 540,500.00
3.1 Trench Bacilli - 766 c.y. 520.00 $15,320.00
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100% 52,000.00 50.00
100% $3,240.00 50.00
4.0 STORM SEWER SYSTEM QUANTITY UNITS PRICE COST
4.01 Storm Sewer, RCP (12 ") w/"O Ring Gaskets 2,037 I.f. 515.00 530,555.00
4.02 Storm Sewer, RCP (15 ") w /'O" Ring Gaskets 889 I.f. 517.00 515,113.00
4.05 Storm Sewer, RCP (24 ") w /'O" Ring Gaskets 121 I.f. 527.00 53,267.00
4.06 Storm Sewer, RCP (27 ") wP'O" Ring Gaskets 331 Lf 535.00 511,585.00
I4.07 Storm Sewer, RCP (30 ") w / "O" Ring Gaskets 738 l.f. $40.00 529,520.00
4.08 Storm Sewer, RCP (24" x 38" Ellipf) w/"O" Ring Gaskets 97 ea. 545.00 54,365.00
4.09 2' Diameter Inlet Type A 12 ea. 5550.00 56,600.00
4.10 4' Diameter Manholes 28 ea. 51,200.00 533,600.00
4.11 4' Diameter Catch Basins 7 ea. 51,400.00 $9,800.00
4.12 5' Diameter Manholes 12 ca. 51,300.00 515,600.00
4.13 5' Diameter Catch Basins 3 ea $1,1,
800.00 55,400.00
4.14 6' Diameter Manholes 2 ea. 52,500.00 55,000.00
4.15 12" FES w /Grate & Rip -Rap 5 ea. 5550.00 $2,750.00
4.16 30" FES w /Grate & Rip -Rap 2 c.y. 51,000.00 52,000.00
4.17 Trench Bacilli 162 c.y. 520.00 53,240.00
aintenance Bond
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5.0 PAVING QUANTITY UNITS PRICE COST
5.01 1.5" Bituminous Concrete Surface Course 8,566 s.y. $3.75 $32,121.05
5.02 1..5" Bituminous Concrete Binder Course 8,566 s.y. $3.60 $30,836.21
5.03 6' Bituminous Base Course 8,566 s.y. $12.00 5102,787.36
5.04 4" Aggregate Base Course 8,566 s.y. 55.00 $42,828.07
5.05 Prime Coat (0.3 gal/s.y.) 2,570 gal $1.00 $2,569.68
5.06 Bituminous Tack Coat (0.1 :al/s..) 857 • :1 $1.50 51,284.84
5.07 Subgrade Preparation 10,453 s.y. S1.50 $15,678.92
5.08 B 6.12 Curb & Gutter w/ Aggregate Base Course 5,508 I.f. $10.00 $55,080.00
5.09 5' Wide PCC Sidewalk 25,035 s.f. 53.00 $75,105.36
1 5.10 Light Standard w /foundation & Connection 11 ea. $3,000.00 533,000.00 _
5.11 Emergency Access Gate w/Lok Box & foundation 2 ea. $2,000.00 $4,000.00
5.12 Thermoplastic Pavement Striping (entrance) 1 allowance $1,500.00 $1,500.00
5.13 Turfstone Paver Brick for Emergency Access 500 s.y_ ___ $22.00 511,000.00
5.14 Parkway Restoration for auger pits of WM crossings I I.s. $3,000.00 $3,000.00
5.15 Landscape Block Retainaing Wall 606 allowance $28.00 516,968.00
[ 5.16 Site Signage 1 allowance $1,500.00 $1,500.00
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SUMMARY OF DIVISION TOTALS
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NEW LOC TOTAL:
$1,126,263.64