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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: April 9, 2015
SUBJECT:
To request amendments to Resolution R11-233, which approved the City's sale of the former quarry east of Rt. 25 and south of I-88 to Heartland Recycling LLC for use as a Clean Construction and Debris Disposal Facility (CCDD).
PURPOSE:
There has been much activity at the site during the past 2 years of operation. Circumstances have changed over the years that has necessitated amendments to the original agreement, some of which are more fully explained in Heartland Recycling's Qualifying Statement (attached).
BACKGROUND:
Heartland Recycling LLC, as part of a Request for Proposal process by the City, was approved in 2011 for the purchase of the City's 51 acre former stone quarry for use as a CCDD facility, which is now operational and has been a valuable regional source for the construction industry for the disposal of clean construction debris. Other fiscal benefits above the acquisition price have proven valuable to the City as well. As stated in the RFP, once the quarry is brought up to surrounding grades, it will be marketed for ORI purposes. The City at its option would be deeded back 15 acres of the quarry for development purposes.
DISCUSSION:
Some of the requested modifications to the original agreement include the following, which is more fully explained in the Qualifying Statement:
In June of 2014, the entity that was the original party to the Agreement, Heartland Recycling, L.L.C., was sold. Heartland Recycling - Aurora CCDD, LLC ("Heartland Aurora"), which has always owned the Site and been the permitted operator, was not part of the sale. Heartland Aurora is requesting that the City amend the Agreement, so that it is the developer under the Agreement, assuming all rights and obligations of the developer.
Under the original Agreement, the City requested personal guarantees from the developer to secure the perfo...
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