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TO: Mayor Thomas J. Weisner
FROM: Stephen K. Andras, P.E.
Assistant City Engineer
DATE: May 19th, 2014
SUBJECT:
Resolution for Reduction of the Developer's Security for Station Blvd. Roadway Improvements
PURPOSE:
To approve the reduction of the Developer's Letter of Credit for Station Blvd. Roadway Improvements
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. In this case there is also a signed roadway agreement that governs the request for a reduction of the security.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, and in accordance with terms of the roadway agreement, 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 $500,000.00 to $311,498.96 be approved.
cc: Alderman Peters, Chairman
Alderman Garza
Alderman Bugg
Alderman Saville, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution for Reduction of the Developer's Security for Station Blvd. Roadway Improvements
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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 ...
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