R-71-00 07/24/00RESOLUTION NO. _
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR GALLAGHER & HENRY'S COVINGTON KNOLLS SUBDIVISION, UNIT II
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 Covington Knolls Subdivision, located at north of 127th Street,
an Irrevocable Letter of Credit # S515558, LaSalle National Bank, in the amount of $663,008.75 was
deposited with the Village of Lemont on March 3, 1999; and
WHEREAS Gallagher & Henry has made application for a reduction of the Irrevocable Letter
of Credit # S515558 in the amount of $557,696.25; 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,'I'HEREFORE, BE IT RESOLVED by the President and board of Trustees of the
Village of Lemont that the Irrevocable Letter of Credit # S515558 for Covington Knolls Subdivision
is hereby reduced to $105,312.50.
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 2`1-' day of Jv it , 2000.
John Benik
Deborah Blatzer
Keith Latz
Connie Markiewicz
Rick Rimbo
Mary Studebaker
AYES NAYS PASSED ABSENT
CHARLENE M. SMOLLEN, Village Clerk
Approved by me this X'4"" day of
Attest:
, 2000.
HARLENE M. SMOLLEN, Village Clerk
Z\RE SO LUf 1\CO V RDUC. W PD
A. KWASNESKI, Village President
Sheen
STORM SEWER
19 12" RCP
20 18" RCP
21 27" RCP
22 30" RCP
23 18" DIP_. - - - - --
24 INLET
25 4' DIA. CATCH BASIN
26 4' DIA. MANHOLE
27 5' DIA. MANHOLE
28 6' DIA. MANHOLE
29 30" SLOPE BOX
30 TRENCH BACKFILL
31
32
32A
33
34
35
36
PAVING
CURB AND GUTTER
BITUMINOUS PAVEMENT -BASE
BITUMINOUS PAVEMENT SURFACE
LIGHT POLES
SIDEWALK
SODDING
STREET TREES
FOOT
FOOT
FOOT
FOOT
FOOT
EACH
EACH
EACH
EACH
EACH
EACH
CU YD
FOOT
SQ YD
SQ YD
EACH
SQ YD
SQ YD
EACH
481 $22.00
5 $35.00
380 $45.00
417 $60.00
63 $25.00
4 $500.00
3 $1,200.00
4
$1,700.00
3 $1,800.00
- - - -- - -- - - - - -- - - -- - - - --
3 $2,200.00
1 $5,200.00
1200 $20.00
2700 $12.00
4000 $11.25
4000 $3.75
5 $3,500.00
11000 $2.75
4800 $2.50
54 $250.00
$10,582.00
$175.00
$17,100.00
$25,020.00
$1,575.00
$2,000.00
$3,600.00
$5,800.00
$5,400.00
$6,600.00
$5,200.00
$24,000.00
$32,400.00
$45,000.00
$15,000.00
$17,500.00
$30,250.00
$12,000.00
$13,500.00
$527,407.00
100
100
100
100
100
100
100
100
100
100
100
100
100
100
0
100
0
0
0
0
0
0
$0.00
$0.00
$15,000.00
$0.00
$30,250.00
$12,000.00
$13,500.00
$70,750.00
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SU:LOERS • LANZ) OEVELGRERS • GENERAL CONTRACTORS
6230.:QL:E7" R•:A •
Tim Teddy
Village of Lemont
418 Main Street
Lemont, Illinois 60439 -3788
Dear Tim,
CCL'NTRYSIOE, LL NCIS 60725
?9/e fire/
June 21, 2000
Re: Covington Knolls Unit 2
Enclosed at last is a revised estimate of the cost to complete the subdivision
improvements in Covington Knolls Unit 2. You will recall that an earlier estimate
included a lump sum figure for bituminous pavement. A separate figure for (only)
surfacing was not shown. The enclosed estimate now shows a cost figure for surfacing
the streets in the subdivision. Unless you have further questions, would you please ask
the Village Board to authorize a reduction in the outstanding amount of the letter of credit
on deposit with the Village to secure completion of the improvements in the subdivision
unit? Thank you.
Sincerely,
ENGINEERING RESOURCE ASSOCIATES, INC.
Consulting Engineers & Surveyors
June 12, 2000
Mayor Richard Kwasnieski
Village of Lemont
418 Main Street
Lemont, IL 60439
SUBJECT: Letter of Credit
Gallagher and Henry's
Covington Knolls Unit II
Dear Mayor Kwasnieski:
Engineering Resource Associates, Inc. (ERA) has reviewed work completed to date,
relative to the letter of credit dated March 3, 1999 for the subject project. We hereby
certify the attached Exhibit 1 represents a factual summary of work and costs remaining
to be completed on the subject project.
Please advise if you have any questions or comments.
Very truly 'ours,
ENGINE =RING RESOURCE ASSOCIATES, INC.
W. David Johnson, P.E., L.S.
Principal
WDJ /sdh
cc: Mr. Terry Wootums
214 West Willow Avenue
Wheaton, Illinois 60187
(630) 668 -5995
FAX 668 -0693
T:1Gallagher- Henry\Cciington KndIs \CORVetterofcredit
•
Sheetl
COVINGTON_KNOLL
LETTER OF CREDIT B
16-Jun-00
S UNIT II
ALANCE
ITEM
NO.
3
4
5
DESCRIPTION
EARTHWORK
TOPSOIL STRIPPING
EXCAVATION
TOPSOIL RESPREAD
SILT FENCE
HAY BALES
6
7
_
8
9
10
11
WATERMAIN
8" DIPWM
8" VALVE AND BOX
FIRE HYDRANT
TRENCH BACKFILL
LONG WATER SERVICE
SHORT WATER SERVICE
12
13
15
17
18
SANITARY SEWER
8" PVC SDR26
8" DIP
18" PVC SDR26
4' DIA. MANHOLE
TRENCH BACKFILL
LONG SANITARY SERVICE
SHORT SANITARY SERVICE
UNIT
CU YD
CU YD
CU YD
FOOT
EACH
FOOT
EACH
EACH
CU YD
EACH
EACH
FOOT
FOOT
FOOT
EACH
CU YD
EACH
EACH
TOTAL
9500
29000
600
3400
324
1325
3
4
127
12
15
2004
176
119
14
1254
14
13
UNIT
COST
$1.75
$2.00
$2.25
$4.00
$10.00
$16.00
$900.00
$1,700.00
$20.00
$970.00
$550.00
$20.00
$25.00
$50.00
$1,300.00
$20.00
$800.00
$450.00
TOTAL
COST
$16,625.00
$58,000.00
$1,350.00
$13,600.00
$3,240.00
$21,200.00
$2,700.00
$6,800.00
$2,540.00
$11,640.00
$6,250.00
$40,080.00
$4,400.00
$5,950.00
$18,200.00
$25,080.00
$11,200.00
$5,850.00
PERCENTAGE
COMPLETE
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
TOTAL
COST
REMAINING
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Page 1