Title
Resolution: Development Security Reduction - Village Place Apartments
Body
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 is requesting the Village to reduce the Development Security for the Village Place Apartments development; and,
Whereas, Village Staff has inspected the improvements and recommended the reduction of the Development Security to $61,706.63; and,
Whereas, the reduction contemplated by this resolution does not constitute acceptance of any improvements completed to date.
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 reduces the Development Security for the Village Place Apartments development to $61,706.63.
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.