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HomeMy Public PortalAboutResolution 1488RESOLUTION NO. 1488 A RESOLUTION AUTHORIZING REIMBURSEMENT FOR THE CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC" WHEREAS, the Village of Plainfield (hereinafter referred to as "VILLAGE") has made certain improvements to the trunk sewer line in the following general location: Lockport Street from Van Dyke Road to Indian Boundary Road in 2003 (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 tlae "BENEFITING PROPERTY'; and. WHEREAS, it is the opinion of the corporate authorities of the VILLAGF, that such IMPROVEMENTS benefit the property outlined in Exhibit "A" and identified as the Sanitary Sewer Recapture Area -West Basin. NOW, THEREFORE, BE IT RESOLVF,D BY THE PRESIDENT AND BOARD OF TRUSTF,ES 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 forth. and repeated. SECTION 2 The cost of the IMPROVEMENTS, as described in Exhibit "A", attached hereto and trade a part hereof, have been certified in the sum of one million one hundred sixty-tive thousand six hundred seventy-seven dollars ($G27,105.35). The VILLAGE shall be entitled to recapture one hundred. (100) percent of those costs constituting the IMPROVEMENTS in th.e amount of $627,105.35.00 from the BENEFITING PROPERTY at a rate of $144/acre, as described in Exhibit "A". C:\Documents and Settings\sjanik.PLAINFIELD\Local Settings\Temp\GWViewer\Resolution_060131-Lockport.doc SECTION 3 The VIL,L,AGE staff is authorized to collect said sum of $627,105.35 lrom the .BENEFITING PROPERTY, including requiring said payment as a condition of any final plat of subdivision or before any building permits are issued, or as a condition of annexation, whichever occurs first, as to the BENEFITING PROPERTY. SECTION 4 Interest at the rate of four percent (4%) per antlul~n will be charged on any unpaid amounts beginning two years after the completion and acceptance of the Village of said improvements or execution of this Agreement, whichever occurs sooner. PASSIJD THIS 6th. DAY OF 1~'cbruary, 2006 AYES: Fay, Lamb, Manning, Collins, Racich, Dement. NAYS: 0 ABSEN"I': 0 APPROVED THIS 6th DAY OF February, 2006 ATTEST: VILLAGE CLERK V I L,L.AGF, P ESID , T C:\Documents and Settings\sjanik.PLAINFIELD\Local 5ettings\Temp\GWViewer\Resolution_Ofi0131-Lockport.doc ~~ ,. _. i - ... - _ _- ~- _ f ~a~ ~ ~ ~ x ~ ~ ~'~ .~ ` s ~~ w w w.N ~ ~T I~ j 1 _ ~` ~ N N~ W ~j /rJJ ~ 4 +~- mF " ~ i 4' ~ C Q' f f h N M M M ~m ~ ~ ~ g 4 - ~ ~~ ~ N5 '° W ~~ ~~ L_ ^~ a~ N Z ~ r ~ M !~ N ~ N r1 ® M ply ~. H 1® D$ g~ s Q~ ~ ~~ ~ ~~,~~ ~ x =~ ~ W - ~, .. ~' ©~ ~ ~' a~ Ow ~ ~ N~ ~~ ~ ~~ ~ ~ ~'~- I ~ ~ •~ ~ ~~ ~ ~~ ~ ~ N W ~ ~~ ~ a( 1- p q~n.w... U ~ u~. ~ ~Uy } S C L-