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TO: Mayor Thomas J. Weisner
FROM: Stephen K. Andras, P.E., CFM, Assistant City Engineer
DATE: June 13th, 2016
SUBJECT:
Resolution for Reduction No. 1 of the Developer's Security for Aurora Memory Care - COA Case No. 10.419
PURPOSE:
To approve Reduction No. 1 of the Developer's Security for Aurora Memory Care
BACKGROUND:
The Subdivision Control Ordinance, provides the City Engineer with the option to reduce the developer's security to a level not lower than 20% of the original security amount, for work that has been completed, inspected, tested and approved, based on a request from the developer that is supported by a Professional Engineers certification, and our departments review and approval.l
DISCUSSION:
The Developer has completed improvements that have been inspected, tested, and approved, and has requested, under the support of a Professional Engineer's certification, that the existing security be reduced. We have reviewed said request and supporting documentation for this request.
IMPACT STATEMENT:
As a reduction, and not a final acceptance for City maintenance, this action has little if any impact on City divisions and or departments.
RECOMMENDATIONS:
We propose that the request for the Developer's Letter of Credit to be reduced from an original value of $586,750.30, to a new, reduced value of $245,338.80.
cc: Alderman Garza, Chairman
Alderman Johnson
Alderman Mesiacos
Alderman Bohman, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution for Reduction No. 1 of the Developer's Security for Aurora Memory Care - 1340 N. River St.
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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, Aurora Memory Care LLC., has partially completed the 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 City Engineer has recommended a reduction to the developer’s Letter of Credit to a new, reduced total of $ 245,338.80 :
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: that the reduction of the developer’s Letter of Credit to a new, reduced total of $ 245,338.80 be approved.