R-72-99 Authorizing Letter of Credit Reduction for Rolling Meadows Subdivision Phase 2RESOLUTION NO. - /d -7
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR ROLLING MEADOWS SUBDIVISION PHASE 2
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 Rolling Meadows Subdivision Phase 2, located south on
127th Street, an Irrevocable Letter of Credit #198, Hinsbrook Bank & Trust, in the amount of
$2,219,009.45 was deposited with the Village of Lemont on September 2, 1997; and
WHEREAS, Jurinek & Riskus, Inc. has made application for a reduction of the Irrevocable
Letter of Credit #198 in the amount of $1,672,102.63; 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 #198 is hereby reduced to $546,911.81.
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that the Irrevocable Letter of Credit #198 for Rolling Meadows Subdivision
Phase II is hereby reduced to $546,911.81.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COUNTIE OF COOK, WILL, AND DU PAGE, ILLINOIS, on
this i7' day of �n� 1999.
AYES NAYS PASSED ABSENT
V
John Benik V
Debby Blatzer (/
Keith Latz
Connie Markiewicz V
Rick Rimbo V
Mary Studebaker
Approved by me this 21 day of
Attest:
ENE M. SMOLLEi , Village Clerk
, 1999.
Ri\e/
CHARLENE M. SMOLLEN, Village Clerk
illage Attorney
WASNESKI, Village President
LETTER OF CREDIT APPROVAL FORM
The Letter of Credit
Reduction in the amount of $ 1, G!Z, (02.6 leaving $ X116, 91O.:i
Release
is approved for
Subdivision
D to
Date
..0ia 7(1/77
unity '1--'opment Date
5 3
Adtiistration Dee
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 margin and return to
Community Development Department by S..P+t 17 1555 _.
UttfUW,VV lau v . o rtA OLOI444 1.7
:mow:
STRAND
ASIOCtA•!t!. 'NC.
e N l'+ , F. Fi 3
2400 Glenwood Avenue
Suite 228
,.oIle:. IIlirois 80435
Phone: (815) 744 -4200
Fax: (815) 744 -4215
September 8, 1999
Mr. Jim Cainkar, Village Engineer
Village of Lemont
418 Main Street
Lemont, Illinois 60439
sTIALW ASSOCIATss 1rc.
Re: Rolling Meadows Phases I and 1 - Letter of Credit Reduction
Dear Jim:
We have reviewed the request from Jurinek and Riskus, for reduction of the Letter of Credit for Rolling
Meadows Subdivision. The Phase I Letter of Credit has already had one reduction. No additional work
has been completed, therefore, no additional reduction to this Letter of Credit is recommended.
Substantial work has been completed for the Phase II portion of the site. We recommend a reduction
to the Phase II Letter of Credit in the amount of 51,672,102.63. Attached is an accounting of the work
completed and the recommended reduction.
If you have any questions or comments, please feel free to call.
Sincerely,
STRAND ASSOCIATES, INC.
Michael R. Waldron, P.E.
I-.C4 271MAW DE
cc: Steve Jones, Scott Buening, Dan Fielding, John Antenopoulos - Village of Lemont
John Jurinek. - Developer
Scott Schreiner - Incech Consultants, Inc.
EXCELLENCE IN ENGINEERING 81NCc 1945
Madison. W1 • Louisville. KY • PEN - Lexlnezen. KY
02001
LETTER OF CREDIT SUMMARY
PROJECT': Ruling Meadow; Mae 2
LAST UPDATE September 7, 1999
REDUCTION NUMBER' 1
e0
en
eo
m
CATEGORY
COST
PREVIOUSLY 11415 v
ORIGINAL. RELEASED REQUEST REMAINING re
w
ro
GRADING
PAVING
s1REET UCnT1NG
SANITARY SEWER
WATERMAIN
STORM SEWER
Totals
1318,777.00 $0.00 52751,332 00 139,443 00
$518,003.20 $0.00 1330,990.10 $188,007.10
$50,000.00 10.00 10.00 150,00000 fr,
$337,0115o W.00 1337.012.50 10.00 I'
co
1235,30925 10.00 $275,109.25 50100 - -I
A-
$315,049.60 10 00 $303,503.00 $11,440 00 +'
m
$1,775,211.55 $300 $1,481,313.45 12119,495 10 ue
CONSTRUCTION
COST
I FTllt OF CREDIT
[5TARLIGI LCD AT
n. rr.r ; •
ORIGINAL VAUIE 11 775,211.55
VALUE OF COMPLETED WORK TO DATE $1,486,313.45
hi ' jr .111 % RETAINAGE 3148,831.35
PREVIOUS RELEASES NO. 1 $0.00
NO. 2 $0.00
NO. 3 $0.00
NO.4 $0.00
VALUE TO RELEASE $1,337,082.11
REMNNING VALUE $437,529.44
$2,219,014.44
$1,857,891.81
$185,789.18
10 no
10.00
$000
10.00
11,872,102.03
1545 1411 nt
'O!vt SILYIOOSSV 'WILLS
LETTER OF CREDIT
ritorret. !tolling Mantims Mfrs, 2
LAST UPDATE: Saptamher 7, 1909
REDUCTION NUMBER: I
CATEGORY
ITEM
UNITS
QUANTITY
COST
ORIGINAL
PREVIOUSLY
RFI EASED
THIS
REQUEST
REMAINING
UNIT
COST
ORIGINAL
PREV101.131v
RELEASED
1185
RECTUEST
REMAINING
GRADING
Topsoil Exonvolion
CY
83950
0
(13958
0
71.50
$95,934.00
30.80 ...
395,934.00
*1)8,03800
30.00
30.80
30(10
30,712.00
Earth Fircenailkwt
(.Y
04310
0
04310
0
32.00
31.20
3128,638.00
38,712.00
70.00
Topsoil Mal 6" (Lot 116, ROW)
SY
7260
n
1)
7260
30.00
Sodding
SY
72E10
0
0
7260
$225
318,335.00
$0.00
*0 00
30.00
*Oslo
$0.00
30.00
318,335.00
798.00
314,300.00_
sn.no
Geottefile Fabric
SY
10
0
0
0
0
70
5720
3110
598.00
314 390 00
SR Ferro
1.1
5720
32.50
RefterIng YU!
SY
2738
0
2738
0
320.00
$54,780.00
so.nn
*,780. 00
3318,777.00
SUR (0(61
30.00
1279,332.00
339;145.00
313,508.40
398,1011.00
3118.722.00
323,428.40
$77,169.30
30.00
$0 Ilo
$0.0-0
30_80
30.00
10.00
10.00
$66,297.10
$172,710.00
3018,007.10_
PAVING
sY
LF
27514
12271
0
22514
12271
0
0
$13,508.40
3911,188.00'
$118,722.00
323,428.40
$77,169.30
765,297.10
30.00
10.00
30.00
*000
*000
30.00
30110
• rine CrodIng
Rolled Coal & (410•Ir
30.00
38.08
Ir Agg. Bose, CA41
SY
19787
6332
0
0
111,11/
0332
n
0
0
$8 00
33.70
33.90
33.30
B M, Prime Coat
it. A
(31.
_,
2.�'00. Com. Mode , CI I
1.6" Bit Conc. Surface, CI I
DY ....-
SY
19787
187117
0
0
19787
.0
..
19787
5" P C..C. SIdowalk
SF
49084
0
0
49064
$2.50
5122,710.00
•..
SURTOTAI
3519,1103.20
30.80
3330,996.10
SIFIEET I Kii-riiNG
250 W.Slreet lighl(25Tolo)_
SUOTOTAL -
EA
.._
20
o
0
- -
20
---
32,500.00
30.00
30.00
3(100
30.00
.
$50,000.00
. . __ _..
350.000.00
$50,000.00
$50,0o0 ilo
•
.4--
SANITARY SEWER
IV Dia. PVC (depth> 20)
15- Dia. PVC (5 18'-20' ...
15' 01a. PVC 0 16'-18'
15- Dia. PVC 9 IN., tr
IF
LT .
IF
LE
- . ___
250
. _ 400
114
- 045
. . ..... _
0
0
0
0
.
250
400
114
845
0
0
0
0
348.08
548.50
$45.00
540.00
$12,000.00
3111,61X3 00
35,130.00
325,800.00
$49,311.50
30.00
sn no
30.00
30.00
$0.00
30.00
312,000.00
*18,600m
35,130.00
525,80000
$49,311.50
33,710.00
$19,331 50
538,307.50
....._ ... _
30.00
. .. 80.00
30.00
50 00
cr Dia. PVC 0 (depth , 20)
LF
I F
1351
140
0
1351
0
0
338.50
328.50
_. 10.00_
6.66
50.00
30.00
____
W Dia. PVC 016'-18'
0
140
,
33,710.00
If Ole. PVC 0 12-14'
LF
IF
043
0
0
943
_ 2189
0
0
520.50
317 r0
510, 131 SO
'
330,367.50
50(1(1
50 00
8" Dia. PVC fp W-12'
2.189
----
TZ6ttL2:9 rd.i O6:30
.3 I S3.IVI30SSti a_jv .;S
LETTER OF CREDIT
PROJECT': Rolling Meadows Phone 2
IASI UPDATE.: Sephonher 7, 19119
REDUCTION NUMBER: 1
CATEGORY
ITEM
LIMITS
QUANTITY
CO3T
ORININAI
PREVIOUSLY
RI:LEASED
TINS
REQUEST
REMAINING
UNIT
COST
ORIGINAI
PREVIOUSLY
11171.FASED
THIS
RFOREST
REMAINING
IT Ma. PVC Sorvtce (long)
LF
50
0
50
0
1760.00
130,000.00
10.00
330,000.00
30.00
0" Dia. PVC Service (shod)
LF
FA
64
2
0
0
64
7
0
0
$370.00
*23,680.00
*0.00
173 680.00
35,310.00
37,305.00
$0 oo
10.00
$0.00
48" Dia. Manhole 75'46'
12,655.00
15,310.00
10.00
$0.00
46- Die. Manhole 23%24'
LA
a
0
3
0
12,4.16.00
$7,305.00
411' Dia. Manholo 21 22'
FA
1
0
1
0
*7,71500
17,715 00
10 00
*/,715.00
$43.110
4,1" OW Manhole, 19 - 70'
EA
1
0
1
0
11,9IZ.00
31,995.00
10.00
11,995.00
$0.00
48" Die. Manhole 17 - 18'
EA
1
7
0
0
1
2
0
0
11,815.00
*1,635.00
11,815.00
13,270.00
10.00
10.00
31,8(5.00
13,270.00
*0.00
10.00
30.00
48" Db. Manhole 15 - 16'
IA
er Db. Manhole 13 - 14'
EA
2
0
2
0
11,515.00
13,030.00
10.00
33,030.00
48- Dia. Manhole 11 - 17
---- - -- - '
or Ilta Manhole 9 - HT
-___
San. Service Risers
EA
FA
EA
FA
CY
1
0
7
0
11,395.00
19, T65.00
10.00
;g,16500
*0.01)
30.00
7
61
0
598
0
0
7
61
6
- 0
31,275.00
1120.00
3685.00
114.50
*0,92500
17,320.00
34,110.00
16,671.00
839,4111111
1337,017.50
10 00
1000
10,925.00
$7,320.00
0
0
0
10.00
Drop Pipe Assembly
$0.00
10.00
$0 011
34,11(1.00
18,671.00
339,111 00
3317,017.50
10.00
Saw
$0.00
1(1.00
Trend' Bet:k81 Material (mein)
_
0
. _
698
Trench Beek611Maforial (sew)
CY
7716
7718
0
$14 r41
SUBTOTAL
10.06
._ .
0
0
;19.50
154,697.60
10.00
*000
10.00
10.00
10.00
10.00
*0.00
$0.00
10.00
10.00
10.00
10.00
354,697.50
30.00
WATERMAIN
__
10- Db. DIP
If
_____._.__.__
2005
2805
8" Db. DIP
UT Valve kw
Ir Valve Dog
I.F
EA ...
EA
EA
CA
EA
EA
CV
-
CY
LT
.
3410
6
6
24
..... . 60
54
.. ..-.- -
114
264
1373
0
0
0
.
0
0
.
0
0
0
...
3400
. . 8
6
24
60
S4
114
294
1373
6205
11
0
0
0
(1
0
0
0
.
$105(I
3025.00
1310.00
11,260.00
$526.00
1725.00
3130.00
114.50
314.50
350,1001)0
33,750.00
11.860.00
130,240.00
131,600.00
112.150.00
9(4,820.00
13,628.00
119,908.50
Ssn. MU MI
13,750.00
11,860.00
130,240.00
131,500.00
117,150 00
114,870.00
*3,826.00
119,908.50
36,516.25
1235,309.25
$0 011
30.00
10.00
$0.00
10.00
*0.00
10.00
*0.00
10.00
30.00
..._.
30.00
Fire Ilydrard witAux Valve
1" Db. Cu wale( Sew. (king)
_ . _,
1" Dkt. ell Walt; Serv. (short)
-. -..
1- Illa Indy wive and box
Trench Bacleoll Umbria' (Tab)
•1
Trench Backffil Matenel (w ry)
Polyvinyl %Mapping
_ .
SUBTOTAL ... _.
0205
_.___
11.06
18,515.26
3235,369.25
STORM SEWER
-4
_..4
..
36" Db. RCP
....-.. _ ________ ..... .. ...
afr 010 RCP
LF .....
t.r
.... ___ 7117
478
_
787
476
0
136.00
129,906.00
314,042.00
30 01)
10.00
379,606 00
114,042 00
10.00
30.06
30.00
*0.00
129.50
24" Dia. RCP
LF
1643
1643
1114
0
0
126:00
319.00
140,114.00
*21.16600
30.00
10.00
110,116.00
371,166 00
18" Dia. RCP
1 1-
1114
e
'��iI S3.LVIJOSSV L\VLLS
LETTER OF CREDIT
PROJECT: Railing Meadows Phase 2
IASI- UPRATF: Seelembar 7. 1999
REDUCTION NUMBER: 1
CATEGORY
ITEM
UNITS
QUANTITY
COST
ORIGINAL
PREVIOUSLY
RELEASED
THIS
REQUEST
REMAINING
UNIT
COST
ORIGINAL
PRFv1011SLY
RELEASED
MIS
REQUEST
ru4AmmING
15" Dia. RCP
IF
1029
1454
176
316.00
114.50
$26,064.00
572,790.00
S000
30.00
30.00
523,264.00
$08.902.00
$2,800.00
53,820.00
12" Dia. RCP
IF
FA
5020
4756
264
$4,000.00
30.00
30.00
Basin
2
2
0
0
*2,000.00
51,60000
54,000.00
77' Dia. Cak:h
72" D. Manhole
EA
3
1._
3
12
55,400 00
WOO
$5,400 00
0
31,200.00
515,120.00
3000
315,120.00
$0 00
.
UA
12.
90 1)).. Manhole
48- Dia Manhole
EA
41
39
2
000.00
$!J5000
336,900 00
$21,850.90
30.00
WOO
$35,100.00
51,800 00
521,850.01)
50.00
Dia. C.aich Btain
EA
23
23
0
48"
EA
35
35
0
5475_00
316,625.00
$0.00
316,625.00
$0.00
50.00
24" Dia. hist
30" Conc. End Section
EA
1
1
1
0
5605.00
3505.00
3001)
300500
0
5475.00
5475.00
30.00
30.00
50.00
5(0.00
$111.00
$175.00
3840.00
54,930.00
30.00
39.00
51,200.60
$0.00
24" Cone. End Secti3n
FA
1
3840.00
34,930.00
$000
30.00
31,548.00
$1,470.00
30.00
111.440.00
15" (WIC. End Section
EA
7
2
0
5420.00
514.50
Trench nacidIP Material
CY
340
340
0
Strew Hales
EA
172
0
172
$0.00
521.00
$2.30
31,548.00
st 410 WI
51,200.00
Slime Rip-Rap _ _ _
Paved Dhch
SY _ _
S1
_ . . , . _70
522
0
522
70
0
• 30.00
___
SUBTOTAL
1315.04950
50.00
5303,003.00
•■•
SKI sa vImssv a ivais