R-15-11 Res LOC Reduction Singer LandingVILLAGE OF LEMONT
RESOLUTION NO. g. - 15 l
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR SINGER LANDING SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 28TH DAY OF FEBRUARY, 2011
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Cook, Will and DuPage Counties,
Illinois on this 28th day of February, 2011.
RESOLUTION NO. R 1 J
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR SINGER LANDING SUBDIVISION
WHEREAS, pursuant to the 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 Singer Landing, generally located at the eastern terminus of
Talcott Avenue in Lemont, Irrevocable Letter of Credit No.FGAC -06290 issued by Fidelity
Guaranty and Acceptance Corp on October 4, 2006, in the amount of $104,233.85, was deposited
with the Village of Lemont to guarantee public improvements; and
WHEREAS, Lennar Communities of Chicago, LLC, owner and developer of the
subdivision, has made application for a reduction of said letter Letter of Credit; and
WHEREAS, a duly authorized agent of the Village of Lemont has inspected certain
portions of the improvements 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 Letter of Credit No. FGAC -06290 is hereby reduced to $30,000.
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 28th day of February, 2011.
Debby Blatzer
Paul Chialdikas
Clifford Miklos
Ron Stapleton
Rick Sniegowski
Jeanette Virgilio
AYES NAYS ABSTAIN ABSENT
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V
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Attest:
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Approves i y me this 28th day of February, 2011
CHARLENE M. SMOLLEN, Village Clerk
CHARLENE M. SMOLLEN, Village Clerk
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REAVE , V' age President