Loading...
R-84-99 Authorizing letter of credit reduction for Ravines subdivisionRESOLUTION NO. K_E-ki.-Nci RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION FOR RAVINES 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 Ravines Subdivision, located at Archer Avenue and 131st Street, an Irrevocable Letter of Credit #60732502, American National Bank, in the amount of $633,192.50 was deposited with the Village of Lemont on June 2, 1998; and WHEREAS, Alan R. Meyer, has made application for a reduction of the Irrevocable Letter of Credit #60732502 in the amount of $412,673.09; 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: SECTION 1: Preliminary approval pursuant to the Lemont Subdivision Control Ordinance is hereby granted for the improvements identified in Attachment A and attached hereto. SECTION 2: The Irrevocable Letter of Credit #60732502 is hereby reduced to $220,519.41. NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the Village of Lemont that the Irrevocable Letter of Credit #60732502 for Ravins Subdivision is hereby reduced to $220,519.41. 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 W' day of ho v- e,w1,19 1999. John Benik Debby Blatzer Keith Latz Connie Markiewicz Rick Rimbo Mary Studebaker Approved by me this to' day of AYES NAYS PASSED ABSENT v is ENE M. SMOLLEN, Village Clerk 1999. RICHARD A. KWASNESKI, Village President CHARLENE M. SMOLL N, Village Clerk September 9, 1999 Mr. Scott Buening Village of Lemont 418 Main Street Lemont, Illinois 60439 Dear Scott, Pursuant to our conversation on 9/9/99, I am requesting your review of the letter of credit required for the Ravines development in Lemont. All water, sanitary, and storm sewers are complete. Curbs, binder, retaining wails and bridge work are complete as well as the street lighting. We will be commencing with the landscaping as I write this letter as well as fencing for the bridge and initial sidewalks. If you have any questions or comments, please feel free to call me at (630) 986 -5000. I appreciate your attention to this matter. Sincerely, Alan R. Meyer PROJECT INFO SHEET Sent From: C4I ^ 164 Date Rcvd. Project Name /Location Type of Submittal ropy Sent To B/P CD E PAM lv /� 1 j lv`-eS i 1vii1 cvG ,.,c_ /vim Comments: S ( j -7 off- - -- �- .� G4- �. f /t- ( 1/4.., �Q e■)-c--- f f(0..4.. ( ZS = to 4 1 C3 o 1 04 r a7C,‘ P i?.0 G-f- ct3179 3 z-- R (0 4 ( ( '7 b N\ L 0 C 7.. 2©ct ' tiL, Returned To: On Date: B/P CD E _ Signature lU /Z-ZiC/ ). Signature Village of Lemont Project Review Sheet LETTER OF CREDIT APPROVAL FORM The Letter of Credit Reduction in the amount of $ I Z, G 13 c'9 , leaving $ 22- 0, 5 /, 41 I Release is approved for Subdivision pr, (—‘--c-1 tii,.cZ I'_$ { -pis 7N"e- -'2 /'%/ 224 15 Engineering Date /0 ZS�ei Public Works / Date Date 0/l10111 Ad ' ration Date If reduction/release is okay, please sign and return to the Community Development Department. If reduction/release is not approved, please note concerns/issues in right marin and return to Community Development Department by / C / 2 r /