HomeMy Public PortalAboutResolution 1506LAURIE M~PHILLIPS 5P R 200fi127186
Will County Reoarder Page 1 of 5
JAD Date 07/31/2006 Time 09:37:08
Recording Fees: 25.75
IL Rental Hsng Support Prog: 0.00
RESOLUTION NO. 1506
A RESOLUTION AUTHORIZING REIMBURSEMENT FOR THE
CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC
PIN's: 06-03-17-300-001-0000; 06-03-1$-200-004-0000;
06-03-17-100-018-0000; 06-03-17-100-020-0000; 06-03-18-200-002-0000
.WHEREAS, the Village of Plainfield (hereinafter referred to as "VILLAGE") is
constructing certain improvements to extend Drauden Road from Indian Boundary Road
to Illinois Route 126 in 2006 (hereinafter referred to as IMPROVEMENTS"); and
WHEREAS, the IMPROVEMENTS are valuable and substantial improvements
benefiting property shown in Exhibit "A" attached hereto and made a part hereof and
which is further described as the "BENEFITING PROPERTY'; and
WHEREAS, it is the opinion of the corporate authorities of the VILLAGE that
such IMPROVEMENTS benefit the property outlined in Exhibit "A" and identified as
the "2006 Drauden Road Village Improvement Project".
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, as follows:
SECTION 1
The foregoing recitals are hereby incorporated by reference into the body of this
Agreement as if fully set Earth and repeated.
SECTION 2
The cost of the IMPROVEMENTS, as described in Exhibit "A", attached hereto and
made a part hereof, have been estimated in the surn of four million one hundred eighty-
two thousand six hundred fifty-one dollars ($4,182,651). The VILLAGE shall be entitled
to recapture one hundred (100) percent of those costs constituting the IMPROVEMENTS
in the amount of $4,182,651 from the BENEFITING PROPERTY at a rate of $508/lineal
foot of road frontage ("LF") from the area described in Exhibit "A" and as allocated in
Exhibit "B".
S:\Resolutions\Resolution-prauden-Rd.doc I
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SECTION 3
The VILLAGE staff is authorized to collect said sum of $4,182,651 from the
BENEI{ ITING PROPERTY, including requiring said payment as a condition of any final
plat of subdivision or before any building permits are issued, or as a condition of
annexation, whichever occurs first, as to the BENEFITING PROPERTY.
SECTION 4
Interest at the rate of four percent (4%) per annum will be charged on any unpaid
amounts beginning two years after the completion and acceptance of the Village of said
improvements or execution of this Agreement, whichever occurs sooner.
PASSED THLS 17TH' DAY OF JULY, 2006
AYES: Racich, Dement, Fay, Lamb, Manning, Collins
NAYS: 0
ABSENT: 0
APPROVED TH1S 17'`'' DAY OF JULY, 2006
. -'. A"I"PEST: l
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S:\Resolutions\Resolution-Drauden-Rd Authorize Reimbursement for Construction Improvements.doc
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Village of Plainfield, Illinois
Drauden Road Recapture
Legal Descriptions
Plainfield Ventures, LLC
03-17--300-001
That part of the Southwest Fractional Quarter of Section 17, lying North and West of the
Indian Boundary Line, in Township 36 North, Range 9 East of the Third Principal
Meridian, in Will County, Illinois.
First Midwest Bank (U/T/A #d 753 D/T/A S-X-00)
03-15-200-004
The South half of the Northeast Quarter and the Northwest Quarter of the Northeast
Quarter and the South half of the Fractional Northwest Quarter of Section 18, Township
36 North, Range 9 East of the Third Principal Meridian, in Will County, Illinois.
Willow Tree Farm, LLC.
03-17-I00-01$
The West half of the Northwest Fractional Quarter of Section 17, Township 36 North,
Range 9 East of the Third Principal Meridian, except therefrom. the West 630 feet of the
North 692 feet of said West half of the Northwest Quarter, in Will County, Illinois.
James F. & Nancy J. Rowley
03-17--100-020
The West 315 feet of the North 692 feet of the West half of the Northwest Quarter of
Section 17, Township 36 North, Range 9 East of the Third Principal Meridian, in Will
County, Illinois.
Red Fox Farms, .Inc.
03-I 5-200-D02
The East 1321.61 feet of the North 1317.88 feet of the East half of the Northeast Quarter
of Section 18, Township 36 North, Range 9 East of the Third Principal Meridian, in Will
County, Illinois.
EXHIBIT A. - 2 OF 2
I:\Pfldv\GENERAL\recapture\Drauden Rd\Lcgal Descriptions.rev072406.doc
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