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TO: Mayor Mayor Richard C. Irvin
FROM: Jason Bauer, P.E. Assist. Dir Public Works - Assist. City Engineer
DATE: February 25th 2019
SUBJECT:
Resolution for Security Reduction No. 1 for Gramercy Square Unit 2 - COA Case No. 18.038 : Buildings, Grounds and Infrastructure Committee February 25th, 2019.
PURPOSE:
To approve the Security Reduction No. 1 for Gramercy Square Unit 2
BACKGROUND:
City of Aurora municipal code allows for the reduction of a developers security in relation to the value of completed and inspected public improvements that are required for the development. This reduction may not exceed a minimum 20% of the original security value that is required for the one year maintenance period of the developments installed public improvements.
DISCUSSION:
The Subdivision Control Ordinance allows for the partial reduction of improvements securities based upon certification of installed public improvements and verification of same by City staff. Said improvements have been made and certified by the developer's engineer and confirmed by City staff as installed and inspected, and a signed and sealed engineer's cost estimate for the reduction is on file with the City Engineering Division.
IMPACT STATEMENT:
The impact of this action is minimal as it does not transfer or establish City responsibility, maintenance, repair or replacement of any of the Public Improvements that are associated with this reduction. The full responsibility of these public improvements remains with the developer until the expiration of the required, one year, maintenance period for either underground or final acceptance.
RECOMMENDATIONS:
Approve the Security Reduction No. 1 for Gramercy Square Unit 2.
cc: Building Grounds & Infrastructure Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution to approve Security Reduction No. 1 for Gramercy Square Unit 2.
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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 the developer of Gramercy Square, has partially completed required public improvements, and;
WHEREA, these public improvements have been inspected during construction by the Engineering Division or their authorized representative, and were found to be in substantial conformance with the approved plans, and;
WHEREAS, the City Engineer has recommended a Security reduction No. 1 to a new total of $ 283,533.72;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: that this reduction be approved with authorization to reduce the original security to a new total of $283,533.72.