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PIN#: 11-04-05-100-007-0010; 11-04-05-100-007-0020; 11-04-05-100-009-0010; 11-04-05-100-009-0020
A Resolution Establishing a Development Security for the Monarch Grove Development (PZC#25-027).
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 had previously posted a financial guarantee (Resolution 25-4008 on 4/16/25: which is allowed under the Annexation Agreement) to commence early start grading prior to final engineering approvals at their risk; and
Whereas, the Developer is now requesting the Village establish a financial guarantee for the overall proposed development to cover 125% of the cost of certain improvements, which include those land improvements that will, after completion, be dedicated to the Village of Romeoville, soil and erosion control measures, all work relating to streams and wetlands, and the amount necessary to complete any stormwater management facilities; and,
Whereas, Village Staff has reviewed the Engineer's Estimate of Probable Construction Cost and recommends the Village Board establish the development security at $4,578,171.96.
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 Monarch Grove development to cover 125% of the cost of certain improvements, which include those land improvements that will, after completion, be dedicated to the Village of Romeoville, soil and erosion control measures, all work relating to streams and wetlands, and the amount necessary to complete any stormwater management facilities in the amount of $4,578,171.96.
Section 2. The previously approved RES25-4008 for Early Start Grading that was approved by the Village Board on 4/16/25 w...
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