cover
TO: Mayor Richard C. Irvin
FROM: Jason Bauer, P.E., Assist. Dir. Public Works - Assist. City Engineer
DATE: July 13th, 2020
SUBJECT:
A Resolution for Reduction No. 1 for Gramercy Square Unit 3 - COA Case No. 18.038
PURPOSE:
To approve the Reduction No. 1 for Gramercy Square Unit 3.
BACKGROUND:
This development in Ward 8, has completed some portion and inspections of the required public improvements and is requesting a reduction to the original Subdivision Bond that was posted to insure placement of these public improvements.
DISCUSSION:
The Subdivision Control Ordinance allows for City Council to reduce the developments security to reflect the value of said completed and inspected public improvements. The completed values of these improvements have been certified and submitted by the developer's Engineer. These valves have been verified by COA Engineering and our consultants as correct and are eligible to be recommended for this reduction.
IMPACT STATEMENT:
This action has no current impact to existing or new public infrastructure as it relates to various City Divisions for maintenance, including streets, water, storm, sanitary, electrical, storm water management, fiber optic
RECOMMENDATIONS:
Approve the request for Reduction No. 1 for Gramercy Square Unit 3.
ATTACHMENTS:
N/A
cc: IT Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution approving Reduction No. 1 for Gramercy Square Unit 3
body
WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, M/I Homes of Chicago, LLC has completed certain public improvements for said project; and
WHEREAS, these said improvements have been inspected during construction by the Engineering Department, or their authorized representative, and were found to be in substantial conformance with the approved plans; and
WHEREAS, The completed values of these improvements have been certified and submitted by the developers Engineer and have been verified by COA Engineering and our consultants as correct and therefore eligible to be recommended for this reduction; and
WHEREAS, the City Engineer now recommends that the original Subdivision Bond for the public improvements be reduced to a new reduced value of $340,036.00.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Aurora, Illinois, that Reduction No. 1 for Gramercy Square Unit 3 be accepted and approved to a new reduced value of $340,036.00..