R-446-96 08/12/96RESOLUTION NO.
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KEEPATAW TRAILS 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 Keepataw Trails Subdivision, located on 127th Street
west of Archer Avenue in Lemont, Illinois, an Irrevocable Letter of Credit #96 -462, State
Bank of Countryside, in the amount of $2,312,706.30 was deposited with the Village of
Lemont on March 4, 1996; and
WHEREAS Keepataw Trails Group, L.L.C. has made application for a reduction
of the Irrevocable Letter of Credit #96 -462 in the amount of $1,004,371.76; 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: Approval pursuant to the Lemont Subdivision Control Ordinance is
hereby recommended for the improvements completed to date.
SECTION 2: The Irrevocable Letter of Credit #96 -462 is hereby reduced to
$1,308,334.68.
NOW, THEREFORE BE IT RESOLVED by the President and board of Trustees
of the Village of Lemont that the Irrevocable Letter of Credit No.96 -462 for Keepataw
Trails Subdivision is hereby reduced to $1,308,334.68.
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 day of , Q�,,,, , 1996.
AYES NAYS PASSED ABSENT
V
Barbara Buschman /
Alice Chin
Keith Latz
Connie Markiewicz
Rick Rimbo
Ralph Schobert
CHARLENE M. SMOLLEN, Village Clerk
Approved by me this /) lfday „ /� , 1996.
At
4 _ 11 ii x2
LENE M. SMOLLEN, Village Clerk
, Village President
STRAND
ASSOCIATES. INC.
2400 Glenwood Avenue
Suite 226
Joliet, Illinois 60435
Phone: (815) 744 -4200
Fax: (815) 744 -4215
Village of Lemont
418 Main Street
Lemont, Illinois 60439
Attention: Ms. Dana Jenkins, Community Development Director
Re: Village of Lemont - Keepataw Trails P.U.D.
Letter of Credit Reduction No. 1
Dear Dana:
We have reviewed the Letter of Credit reduction request from Peco and Associates, Inc. On behalf of
Glenside Builders for reduction to the Letter of Credit. We recommend that the Village release holding
on the Letter of Credit in the amount of $1,004,371.76, provided that the developer submit to the
Village of Lemont partial lien waivers for work completed to date.
Following Letter of Credit Reduction No. 1, the remaining Letter of Credit will break down as follows:
Present Letter of Credit
Work Completed
10% Retention
Letter of Credit Release
Remaining Letter of Credit
If you have any questions or comments, please feel free to call.
Sincerely,
STRAND ASSOCIATES, INC.
Mich: el R. Waldron, P.E.
424-725/MRW:DE
cc: Steve Jones - Village of Lemont
Scott Buening - Village of Lemont
Dan Fielding - Village of Lemont
John Antonopoulos - Village of Lemont
Martin McLaughlin - Glenside Builders
Jim Zografos - Peco and Associates, Inc.
Letter of Credit
$2,312,706.44
$1,115,968.63
$111,596.86
$ 1,004,371.76
$1,308,334.68
EXCELLENCE IN ENGINEERING SINCE 1946
Madison, WI • Louisville, KY • PEH - Lexington, KY
LETTER OF CREDIT
PROJECT: KEEPATAW TRAILS
LAST UPDATE: JULY 29, 1996
CATEGORY
ITEM
SANITARY SEWER
8 " PVC
8" DIP
• 6" DIP
• 10" ABS Truss
6" PVC Short Service
6" PVC Long Service
16" Steel Casing - Augered
Manhole Type -A
• Manhole 6' Dia. - LS V. V
• Manhole 7' Dia. - Lift Sta.
Trench Backfill - Main line
Trench Backfill - Services
• Lift Station
• Control Building
U
STORM SEWER
• 12" RCP
15" RCP
18 "RCP
21 "RCP
24" RCP
27" RCP
30" RCP
10" ADS
12" ADS
• 15" ADS
18" ADS
24" ADS
30" ADS
SUBTOTAL
QUANTITY
RELEASE THIS
NITS ORIGINAL TO DATE PRESENT REQUEST REMAINING
LF
LF
LF
LF
EA
EA
LF
EA
EA
EA
4415
30
760
829
46
CY
CY
EA
EA
LF
LF
LF
LF
LF
52
70
42
1
1
0
0
0
0
0
548
1227
1
1
1444
1091
607
387
541
4415
30
760
829
46
inc.
inc.
4415
30
46
UNIT
COST
ORIGINAL
COST
RELEASE
TO DATE PRESENT
THIS
REQUEST
REMAINING
0
0
760
829
0
$20.00
$18.00
$16.00
$22.00
$300.00
$88,300.00
$540.00
$12,160.00
$18,238.00
$13,800.00
$0.00
$0.00
$0.00
$0.00
$0.00
$88,300.00
$540.00
$12,160.00
$18,238.00
$13,800.00
0
0
0
0
0
52
70
42
1
1
inc.
inc.
52
70
42
0
0
0
1
1
$700.00
$170.00
$1,800.00
$2,200.00
$3,500.00
$36,400.00
$11,900.00
$75,600.00
$2,200.00
$3,500.00
$0.00
$0.00
$0.00
$0.00
$0.00
0
0
0
0
0
0
0
0
0
548
1227
1
1
1444
1091
607
387
541
548
1227
0
0
1390
1091
607
387
541
0
0
1
1
54
0
0
0
0
LF
LF
LF
LF
LF
56
190
195
1160
280
0
0
0
0
0
56
190
195
1160
280
56
190
195
1160
0
$20.00
$20.00
$125,000.00
$17,000.00
0
0
0
0
280
LF
LF
LF
564
522
890
0
0
0
564
522
890
564
522
890
$15.00
$19.00
$21.00
$25.00
$31.00
0
0
0
$10,960.00
$24,540.00
$125,000.00
$17,000.00
$440,138.00
$21,660.00
$20,729.00
$12,747.00
$9,675.00
$16,771.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$36,400.00
$11,900.00
$75,600.00
$2,200.00
$3,500.00
$88,300.00
$540.00
$0.00
$0.00
$13,800.00
$10,960.00
$24,540.00
$125,000.00
$17,000.00
$36,400.00
$11,900.00
$75,600.00
$0.00
$0.00
$440,138.00
$21,660.00
$20,729.00
$12,747.00
$9,675.00
$16,771.00
$0.00
$0.00
$12,160.00
$18,238.00
$0.00
$10,960.00
$24,540.00
$0.00
$0.00
$262,040.00
$20,850.00
$20,729.00
$12,747.00
$9,675.00
$16,771.00
$35.00
$41.00
$7.50
$8.60
$16.80
$1,960.00
$7,790.00
$1,462.50
$9,976.00
$4,704.00
$0.00
$0.00
$0.00
$0.00
$0.00
$1,960.00
$7,790.00
$1,462.50
$9,976.00
$4,704.00
$17.80
$23.00
$32.00
$10,039.20
$12,006.00
$28,480.00
$0.00
$0.00
$0.00
$10,039.20
$12,006.00
$28,480.00
$1,960.00
$7,790.00
$1,462.50
$9,976.00
$0.00
$0.00
$0.00
$0.00
$2,200.00
$3,500.00
$0.00
$0.00
$125,000.00
$17,000.00
$178,098.00
$10,039.20
$12,006.00
$28,480.00
$810.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$4,704.00
$0.00
$0.00
$0.00
LETTER OF CREDIT
° PROJECT: KEEPATAW TRAILS
LAST UPDATE: JULY 29, 1996
CATEGORY
•
•
QUANTITY
COST
ITEM
UNITS
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
UNIT
COST
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
15" DIP
LF
25
0
25
25
0
$36.00
$900.00
$0.00
$900.00
$900.00
$0.00
8" DIP
LF
170
0
170
170
0
$18.00
$3,060.00
$0.00
$3,060.00
$3,060.00
$0.00
12" FES
EA
2
2
2
$400.00
$800.00
$0.00
$800.00
$800.00
$0.00
15" FES
EA
2
2
2
$450.00
$900.00
$0.00
$900.00
$900.00
$0.00
18" FES
EA
1
0
1
1
0
$500.00
$500.00
$0.00
$500.00
$500.00
$0.00
24" FES
EA
1
1
1
$550.00
$550.00
$0.00
$550.00
$550.00
$0.00
15" ADS FES
EA
1
1
1
$250.00
$250.00
$0.00
$250.00
$250.00
$0.00
30" ADS FES
EA
1
1
1
0
$400.00
$400.00
$0.00
$400.00
5400.00
$0.00
Concrete Trough
SF
487
487
inc.
487
$2.25
$1,095.75
$0.00
$1,095.75
$0.00
$1,095.75
6" Restrictor
EA
1
0
1
inc.
1
$300.00
$300.00
$0.00
$300.00
$0.00
$300.00
4" Restrictor
EA
2
2
inc.
2
$200.00
$400.00
$0.00
$400.00
$0.00
$400.00
48" CB
EA
55
55
42
13
$1,450.00
$79,750.00
$0.00
$79,750.00
$60,900.00
$18,850.00
24" Inlet
EA
16
16
11
5
$950.00
$15,200.00
$0.00
$15,200.00
$10,450.00
$4,750.00
Manhole
EA
6
6
3
3
$1,800.00
$10,800.00
$0.00
$10,800.00
$5,400.00
$5,400.00
Trench Backfill
CY
487
487
367
120
$20.00
$9,740.00
$0.00
$9,740.00
$7,340.00
$2,400.00
SUBTOTAL
$282,645.45
$0.00
$282,645.45
$243,935.70
$38,709.75
/ATER MAIN
8" DIP
LF
6513
6513
6513
0
$18.00
$117,234.00
$0.00
$117,234.00
$117,234.00
$0.00
12" DIP
LF
455
455
455
0
$32.00
$14,560.00
$0.00
$14,560.00
$14,560.00
$0.00
8" Valve and Box
EA
15
15
15
0
$1,200.00
$18,000.00
$0.00
$18,000.00
$18,000.00
$0.00
Press. Conn. w/ Vault
EA
2
2
2
0
$3,800.00
$7,600.00
$0.00
$7,600.00
$7,600.00
$0.00
8" Valve w/ Vault
EA
1
1
1
0
$1,500.00
$1,500.00
$0.00
$1,500.00
$1,500.00
$0.00
12" Valve w/ Vault
EA
2
2
2
0 0 0 0 0
$2,000.00
$4,000.00
$0.00
$4,000.00
$4,000.00
$0.00
Fire Hydrant
EA
19
19
19
$1,650.00
$31,350.00
$0.00
$31,350.00
$31,350.00
$0.00
16" Steel Case -Auger
LF
132
0
132
132
$170.00
$22,440.00
$0.00
$22,440.00
$22,440.00
$0.00
15 " Steel Sleeve
LF
100
100
100
$30.00
$3,000.00
$0.00
$3,000.00
$3,000.00
$0.00
1" Short Serve w/ Box
EA
52
52
52
$300.00
$15,600.00
$0.00
$15,600.00
$15,600.00
$0.00
1" Long Seve w/ Box
EA
46
0
46
46
0
$680.00
$31,280.00
$0.00
$31,280.00
$31,280.00
$0.00
T. Backfill - Main Line
CY
550
0
550
550
0
$20.00
$11,000.00
$0.00
$11,000.00
$11,000.00
$0.00
T. Backfill - Services
CY
895
0
895
895
0
$20.00
$17,900.00
$0.00
$17,900.00
$17,900.00
50.00
LETTER OF CREDIT
PROJECT: KEEPATAW TRAILS
LAST UPDATE: JULY 29, 1996
CATEGORY
QUANTITY
COST
ITEM
UNITS
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
UNIT
COST
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
SUBTOTAL
$295,464.00
$0.00
$295,464.00
$295,464.00
$0.00
ROADWAY
Rolled Curb and Gutter
LF
8060
8060
8060
$12.00
$96,720.00
$0.00
$96,720.00
$0.00
$96,720.00
4' Sidewalk
SF
32220
32220
32220
$2.25
$72,495.00
$0.00
$72,495.00
$0.00
$72,495.00
5' Sidewalk - Archer
SF
2280
2280
2280
$2.25
$5,130.00
$0.00
$5,130.00
$0.00
$5,130.00
5' Sidewalk - 127th Street
SF
3320
3320
3320
$2.25
$7,470.00
$0.00
$7,470.00
$0.00
$7,470.00
1.5" Bit. Surface Course
SY
14325
14325
14325
$3.30
$47,272.50
$0.00
$47,272.50
$0.00
$47,272.50
3" Bit. Binder Course
SY
14325
0
14325
0
14325
$5.80
$83,085.00
$0.00
$83,085.00
$0.00
$83,085.00
10" Agg. Base Course
SY
14325
0
14325
0
14325
$6.50
$93,112.50
$0.00
$93,112.50
$0.00
$93,112.50
Prime Coat (stone)
GAL
3585
0
3585
0
3585
$1.50
$5,377.50
$0.00
$5,377.50
$0.00
$5,377.50
Prime Coat (binder)
GAL
1435
0
1435
0
1435
$1.70
$2,439.50
$0.00
$2,439.50
$0.00
$2,439.50
127th Street Imp.
EA
1
0
1
0
1
$100,000.00
$100,000.00
$0.00
$100,000.00
$0.00
$100,000.00
Archer Ave. Imp.
EA
1
0 0 0 0 0 0 0 0i
1
0
1
$130,000.00
$130,000.00
$0.00
$130,000.00
$0.00
$130,000.00
Street Lights
EA
11
11
0
11
$2,250.00
$24,750.00
$0.00
$24,750.00
$0.00
$24,750.00
Street Signs
EA
10
10
0
10
$100.00
$1,000.00
$0.00
$1,000.00
$0.00
$1,000.00
SUBTOTAL
$668,852.00
$0.00
$668,852.00
$0.00
$668,852.00
EXCAVATION
North Detention Pond
Strip Topsoil
CY
0
0
0
$1.90
$0.00
$0.00
$0.00
$0.00
$0.00
Cut
CY
13866
13866
13866
0
$1.90
$26,345.40
$0.00
$26,345.40
$26,345.40
$0.00
Fill
CY
35
35
35
0
$2.50
$87.50
$0.00
$87.50
$87.50
$0.00
' Spread Topsoil
CY
552
552
inc.
552
$1.90
$1,048.80
$0.00
$1,048.80
$0.00
$1,048.80
Seeding
SY
5018
5018
0
5018
$1.00
$5,018.00
$0.00
$5,018.00
$0.00
$5,018.00
South Detention Pond
Strip Topsoil
CY
0
0
0
0
$1.90
$0.00
$0.00
$0.00
$0.00
$0.00
Cut
CY
6805
0
6805
6805
0
$1.90
$12,929.50
$0.00
$12,929.50
$12,929.50
$0.00
Fill
CY
3047
0
3047
3047
0
$2.50
$7,617.50
$0.00
$7,617.50
$7,617.50
$0.00
* Spread Topsoil
CY
643
0
643
inc.
643
$1.90
$1,221.70
$0.00
$1,221.70
$0.00
$1,221.70
LETTER OF CREDIT
PROJECT: KEEPATAW TRAILS
LAST UPDATE: JULY 29, 1996
CATEGORY
QUANTITY
COST
ITEM
UNITS
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
UNIT
COST
ORIGINAL
RELEASE
TO DATE
PRESENT
THIS
REQUEST
REMAINING
Seeding
SY
5845
0
5845
0
5845
$1.00
$5,845.00
$0.00
$5,845.00
$0.00
$5,845.00
• Roadway - Strip Topsoil
CY
1610
0
1610
805
805
$1.90
$3,059.00
$0.00
$3,059.00
$1,529.50
$1,529.50
Marian Drive - Cut
CY
3059
0
3059
3059
0
$1.90
$5,812.10
$0.00
$5,812.10
$5,812.10
$0.00
Marian Drive - FiII
CY
4593
0
4593
4593
0
$2.50
$11,482.50
$0.00
$11,482.50
$11,482.50
$0.00
Stephen Ct. - Cut
CY
695
0
695
695
0
$1.90
$1,320.50
$0.00
$1,320.50
$1,320.50
$0.00
Stephen Ct. - Fill
CY
950
0
950
950
0
$2.50
$2,375.00
$0.00
$2,375.00
$2,375.00
$0.00
Chieftan Ct. - Cut
CY
190
190
190
0 0 0 0 0
$1.90
$361.00
$0.00
$361.00
$361.00
$0.00
Chieftan Ct. - Fill
CY
270
270
270
$2.50
$675.00
$0.00
$675.00
$675.00
$0.00
Ashford Dr. - Cut
CY
2590
0
2590
2590
$1.90
$4,921.00
$0.00
$4,921.00
$4,921.00
$0.00
Ashford Dr. - Fill
CY
4038
4038
4038
$2.50
$10,095.00
$0.00
$10,095.00
$10,095.00
$0.00
Falcon Ct. - Cut
CY
623
623
623
$1.90
$1,183.70
$0.00
$1,183.70
$1,183.70
$0.00
Falcon Ct. - Fill
CY
965
0
965
965
0
$2.50
$2,412.50
$0.00
$2,412.50
$2,412.50
$0.00
• Erosion Control
LF
1750
0
1750
875
875
$2.50
$4,375.00
$0.00
$4,375.00
$2,187.50
$2,187.50
Trees
EA
196
0
196
0
196
$280.00
$54,880.00
$0.00
$54,880.00
$0.00
$54,880.00
SUBTOTAL
* NOTES:
10" ABS not mandrelled Restrictors are not installed -
Storm sewer and trough in detention ponds has not been completed Topsoil has not been spread in the ponds or for roadway right -of -way
Lift station components are considered a complete system, therefore, release of valve vault, wet well, force main, etc. will not be made until lift station is fully to
and operational.
Erosion control is to be maintained until project is accepted by the Village
$163,065.70
$0.00 $163,065.70 $91,335.20 $71,730.50
ITEM TOTALS
Sanitary Sewer $440,138.00 $0.00 $440,138.00 $262,040.00 $178,098.00
Storm Sewer $282,645.45 $0.00 $282,645.45 $243,935.70 $38,709.75
Water Main $295,464.00 $0.00 $295,464.00 $295,464.00 $0.00
Roadway $668,852.00 $0.00 $668,852.00 $0.00 $668,852.00
Excavation $163,065.70 $0.00 $163,065.70 $91,335.20 $71,730.50
CONSTRUCTION COST TOTALS $1,850,165.15 $0.00 $1,850,165.15 $892,774.90 $957,390.25
SUMMARY
ORIGINAL LETTER OF CREDIT
RELEASE TO DATE
RETAINAGE TO DATE
PRESENT LETTER OF CREDIT
THIS REQUEST
RETAINAGE
TOTAL RELEASE
REMAINING LETTER OF CREDIT
CONSTRUCTION COST
$1,850,165.15
$0.00
$o.00
$1,850,165.15
$892,774.90
$89,277.49
$803,497.41
$1,046,667.74
125%
$2,312,706.44
$0.00
$o.00
$2,312,706.44
$1,115,968.63
$111,596.86
$1,004,371.76
$1,308,334.68
TOTAL RETAINAGE $89,277.49 $111,596.86