R-06-10 - Accepting Covington Knolls Unit 7VILLAGE OF LEMONT
RESOLUTION NO.
A RESOLUTION ACCEPTING COVINGTON KNOLLS UNIT 7 SUBDIVISION
ADOPTED BY THE
PRESIDENT AND THE BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 25TH DAY OF JANUARY, 2010
PUBLISHED IN PAMPHLET FORM BY
AUTHORITY OF THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF
LEMONT, COUNTIES OF COOK, WILL AND
DUPAGE, ILLINOIS, THIS 25TH DAY OF
JANUARY, 2010
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RESOLUTION NO.
A RESOLUTION ACCEPTING COVINGTON KNOLLS UNIT 7 SUBDIVISION
WHEREAS, pursuant to the Lemont Unified Development Ordinance, 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 Covington Knolls Subdivision Unit 7, owned and
developed by Gallagher & Henry, located on the north side of 127th Street immediately east of
the Lithuanian World Center, a Standby Letter of Credit No. S575367 issued by LaSalle Bank in
the amount of $2,077,900.00 was deposited with the Village of Lemont to guarantee completion
of public improvements in said subdivision; and
WHEREAS, on the 10th day of December,2007, the President and the Board of Trustees
of the Village of Lemont reduced said letter of credit per Resolution R -82 -07 to $355,101.82; and
WHEREAS, Terry Woolums, Vice President of Gallagher & Henry, requested
acceptance of Covington Knolls Unit 7 and the release of said Letter of Credit; and
WHEREAS, authorized engineer of the Village of Lemont, James Cainkar, inspected
certain portions of the improvements and recommends acceptance of said subdivision and, in
accordance with the Unified Development Ordinance of 2008, the initiation of the two -year
subdivision maintenance period;
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of
the Village of Lemont, that the public improvements at Covington Knolls Unit 7 Subdivision are
hereby accepted and that the Letter of Credit No. S575367 is hereby released with the following
conditions:
1. Gallagher & Henry shall submit to the Village of Lemont a maintenance
guarantee, in the form of a letter of credit or other financial guarantee as approved by the
Community Development Director, in the amount of $190,687.00. This financial guarantee
shall be valid for a period of at least two years from the date of approval of this resolution.
2. A bill of sale shall be provided.
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 25th day of January, 2010.
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Debby Blatzer
Paul Chialdikas
Clifford Miklos
Ron Stapleton
Rick Sniegowski
Jeanette Virgilio
ATTEST:
AYES NAYS PASSED ABSENT
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vt
Approved by me this 256 day of January, 2010
CHARLENE M. SMOLLEN, Village Clerk