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TO: Mayor Thomas J. Weisner
FROM: Stephen K. Andras, P.E., CFM, Assistant City Engineer
DATE: April 11th, 2016
SUBJECT:
Resolution for Reduction No. 1 of the Developer's Security for Advocate Dreyer Medical Center - COA Case No. 13.519
PURPOSE:
To approve Reduction No. 1 of the Developer's Letter of Credit for Advocate Dreyer Medical Center
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.
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 $ 913,417.95 to a new, reduced value of $ 437,163.75
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 Advocate - Dreyer Medical Center - 2285 Sequoia Dr.
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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 ex...
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