Parcel ID No. 12-02-26-100-027-0000; 12-02-26-100-018-0000; 12-02-26-100-022-0000; 12-02-26-100-023-0000
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A Resolution Establishing a Development Security for the Subdivision Improvements proposed at the Gateway Development (former TJ Lambrecht site) (PZC#13-031).
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 does have the necessary approvals (via Annexation Agreement) from the Village Board to begin the proposed improvements under the applicable ordinances of the Village; and
Whereas, the Developer (Abbot Land Gateway LLC) is requesting the Village establish a financial guarantee for the proposed subdivision improvements as part of Abbot Land Gateway LLC's redevelopment of the former TJ Lambrecht site to cover 125% of the cost of improvements that will, after completion, be dedicated to the Village of Romeoville, stormwater management, and soil and erosion control measures; and,
Whereas, the Developer (Abbot Land Gateway LLC) previously established a financial guarantee for the proposed mass grading / dynamic compaction (RES 16-2195) that will be returned once this financial guarantee has been received; and,
Whereas, Village Staff has reviewed the Engineer's Estimate of Probable Construction Cost and recommends the Village Board establish the development security at $2,185,028.64.
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 subdivision improvements as part of Abbot Land Gateway LLC's redevelopment of the former TJ Lambrecht site to cover 125% of the cost of improvements, which include those land improvements that will, after completion, be dedicated to the Village of Rom...
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