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PIN#: 11-04-05-100-007-0010; 11-04-05-100-007-0020; 11-04-05-100-009-0010; PIN 11-04-05-100-009-0020
A Resolution Establishing a Development Security for the Early Start Grading Associated with the Monarch Development (PZC#22-027).
Romeoville, Illinois
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Whereas, the Village of Romeoville (“The Village”) is a municipality in accordance with the Constitution of the State of Illinois of 1970; and,
Whereas, the developer has the option under the Annexation Agreement to commence early start grading prior to final engineering approvals at their risk; and
Whereas, the Developer is requesting the Village establish a financial guarantee for the proposed early start grading of this development to cover 125% of the cost of demolition, earthwork, and soil and erosion control measures; and,
Whereas, Village Staff has reviewed the Engineer’s Estimate of Probable Construction Cost and recommends the Village Board establish the development security at $2,323,401.55.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES FOR THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS, AS FOLLOWS:
Section 1. The Village of Romeoville establishes a development security for the proposed early start grading of this development to cover 125% of the cost of demolition, earthwork, and soil and erosion control measures in the amount of $2,323,401.55.
Section 2. The Resolution shall be in full force and effect from and after its passage, approval, and publication in pamphlet form, as provided by law.
Section 3. The recitals hereinabove set forth are incorporated into this Resolution as of fully set forth herein.