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Home My Public Portal AboutResolution 1435 RESOLUTION NO. ; ~~ ~,g A RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT AUTHORIZING REIMBURSEMENT FOR THE CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC WHEREAS, the VILLAGE is authorized by the Illinois Municipal Code (65 ILCS 5/9-5-1 et. seq.) to enter into agreements to provide for the recapture of offsite improvement costs. WHEREAS, it is the opinion of the corporate authorities of the VILLAGE that such improvements benefit the property described herein. NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL AND KENDALL COUNTIES THAT THE VILLAGE PRESIDENT IS AUTHORIZED TO EXECUTE THE ATTACHED AGREEMENT PASSED THIS ~ DAY OF IVd yr~m~~ r , 2004 _. AYES: GLr.~ ~. A v,c~~ ~ C~ c l~ i ~ s ~ ~= rr~ ~ ,~ r ~ ~ an~~G' ~' ~ ~a y ~ ~} '~cA.a,G' ~ /l NAYS: ABSENT: ~ APPROVED THIS ~ DAY OF ~pVem~.- , 2004. ~G"s` VIL G ESIDENT VILLAGE OLE Updated 10/7/04 h1ARY pNN STUKEL 9P R 2004204x92 Will County Recorder Page 1 of 9 IIIINII~IdIIIIINIINIIVINIIIIINIIVIIIIItlI~IBItlIIRInIIIIIIIIINII AN AGREEMENT AUTHORIZING REIMBURSEMENT FOR THE CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC PIN: 01-21-300-002; 01-21-300-003 THIS AGREEMENT AUTHORIZING REIMBURSEMENT FOR CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC is entered into this ~ day of November, 2004 (hereafter referred to as the "AGREEMENT") by and between the VILLAGE OF PLAINFIELD, a municipal corporation located in Will and Kendall County, Illinois, (hereafter referred to as "VILLAGE") and MOSER ENTERPRISES, INC. (hereafter referred to "DEVELOPER"). WHEREAS, DEVELOPER is the owner of record of real estate described in Exhibit "A" (hereinafter referred to as the "CENTURY TRACE PARCEL"); and WHEREAS, DEVELOPER has made certain offsite street, roadway, right of way, and utility improvements to the CENTURY TRACE PARCEL in the following location: between 248t" Street and the west edge of Champion Creek Subdivision along the north side of 119t" Street (hereinafter referred to as "IMPROVEMENTS"); and WHEREAS, the IMPROVEMENTS are valuable and substantial improvements benefiting property described in Exhibit "B" and shown in Exhibit "C" which are attached hereto and made a part hereof and which are further described as the "BENEFITING PROPERTY"; and ~i~"1 Updated 10/7!04 WHEREAS, it is the opinion of the corporate authorities of the VILLAGE that such IMPROVEMENTS benefit the property described in Exhibit "B"; and WHEREAS, the VILLAGE is authorized by the Illinois Municipal Code (65 ILCS 5/9-5-1 et. seq.) to enter into agreements to provide for the recapture of offsite improvement costs. NOW, THEREFORE, in consideration of the mutual promises and agreements set forth herein, the parties hereto agree 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 "C", attached hereto and made a part hereof, have been estimated in the sum of Six Hundred Forty Eight Thousand Five Hundred Nine and 00/100 ($648,509.00) dollars. The DEVELOPER shall be entitled to recapture a percentage of those costs constituting the IMPROVEMENTS in the amount of One Hundred Thirty One Thousand Nine Hundred F, orty and 00/100 0131,940.00) dollars from the BENEFITING PROPERTY as described in Exhibit "B". At the time the Village accepts the improvements for which recapture is sought, the DEVELOPER will have 60 days to file said certified casts with the Village. Should the DEVELOPER fail to file said certified costs within fi0 days, this AGREEMENT will become null and void. Village acceptance, for the purposes of recapture, will occur at the time that the Village Bnard reduces the DEVELOPER's performance guarantee (letter of credit or bond) for recapturable improvements." The VILLAGE recognizes certain improvements may occur in stages, therefore the following certification process is permitted. A) Roadways: Certification may occur in two phases. Phase one may include: excavation, sub-base, base course, binder course, curb and gutter, sidewalk, and storm sewer. Phase two encompasses all remaining improvements which may include final surface course, striping, and lighting. B) Water and sanitary sewer: Certification will occur in one phase: at completion. SECTION 3 The VILLAGE agrees to assist the DEVELOPER in collecting said sum of One Hundred Thirty One Thousand Nine Hundred Forty and 00/100 ($131,940.00) dollars from the BENEFITING PROPERTY, including requiring said payment as ~-- Updated 1017!04 a condition of any final plat of subdivision or before any building permits are issued, whichever occurs first, as to the BENEFITING PROPERTY. SECTION 4 The payment set forth in the preceding paragraph, plus any applicable interest, when collected by the VILLAGE, shall be promptly paid to the DEVELOPER as soon as practical after the first (1St) day ofi the month following the month of the receipt of such payments but, in any event, no later than the thirtieth (3Ot") day of the month following the month of this receipt. SECTION 5 The term of this Agreement shall remain in full force and effect until the earlier of which occurs (i) such time as the DEVELOPER has been fully reimbursed for that portion of the reimbursement attributable to the BENEFITING PROPERTY as herein provided; or (ii) ten (10) years from the date of this Agreement. SECTION 6 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. An administrative fee shall be charged at the rate of two percent (2%) of the total recapturable amount payable to the VILLAGE to cover administrative costs of the recapture agreement. SECTION 7 Furthermore, the Village shall not be obligated to make any payments to the DEVELOPER unless said recapture funds are actually received from the benefiting property owners. Also, the DEVELOPER shall bear all costs of enforcing or defending the implementation of this Agreement and shall hold the Village harmless and pay on behalf of the Village and its officers any damages assessed them as a result of the entry into or enforcement of this Agreement. SECTION 8 The VILLAGE shall make efforts to forward any recapture payment amounts as set forth herein, but shall not be obligated to bring any suit to enforce the collection of same, nor shall the VILLAGE or any of its officials be liable to the DEVELOPER or his successors or assigns in any manner far failure to make such collections. SECTION 9 Any modifications to the VILLAGE'S standard recapture agreement provisions are set forth in Exhibit D. The DEVELOPER and VILLAGE agree that should any conflicts between Exhibit D and the text of this AGREEMENT exist, the provisions of the text shall supersede those of Exhibit D. ~~ ~.~ Updated 10/7/04 SECTION 10 Any notice to be given ar served hereunder or under any document or instrument executed pursuant hereto shall be in writing and shall be: (i) delivered personally, with receipt requested therefore; or (ii) sent by telecopy facsimile; or (iii) sent by a recognized overnight courier service; ar (iv) delivered by United States registered or certified mail, return receipt requested, postage prepaid. All notices shall be addressed to the parties at their respective addresses set forth below, and the same shall be effective: a) upon receipt ar refusal if delivered personally or by telecopy facsimile; b) one (1) business day after depositing such with an overnight courier service; or c) two (2) business days after the deposit in the mail, if mailed. A party may change its address for receipt notices by service of a notice of such change in accordance herewith. All notices by telecopy facsimile shall be subsequently confirmed by U.S. certified or registered mail. If to the VILLAGE: Village Clerk Village of Plainfield 24000 W. Lockport Street Plainfield, IL 60544 If to DEVELOPER: MASER ENTERPRISES, INC. 300 East 5t" Avenue, Suite 430 NanervilleR IL 60563 Attn: Sohn Zedicker Updated 10/7/04 SECTION 11 If any provision, clause, ward or designation of this Agreement is held to be invalid by any court or competent jurisdiction, such provision, clause, word ar designation shall be deemed to be excised from this Agreement. and the invalidity thereof shall not affect any other provision, clause, word ar designation contained herein. Notwithstanding the foregoing, if a court of competent jurisdiction determines by final order that the amount of the fees or interest payable hereunder exceeds the amount that may be recaptured by the DEVELOPER under currently existing or subsequently enacted by law, then such amount shall be automatically reduced to such amount as the court then determines would conform to such requirements of law so that the provision establishing the fees and interest payable maybe given force and effect. The parties agree all actions instituted to enforce this Agreement shall be commenced and heard in the Circuit Court of Will County, Illinois, and hereby waive venue in any other court of competent jurisdiction. APPROVED THIS ~ DAY of November, 2004. VILLAG AINFIELD /~ r / VILLAG PRESIDENT ATTEST: -- VILLAGE C RK - _.. -- ,~S.Ubscribed and sworn to before me _ _- ,,..• this~~ day of Ul/ r 20~ ,. NOTARY PUBLIC (~ l l lc~.~ ~. ~~ L~ r ~-~~~~I c~ a ~ c~ oo tau , ~. ~ c kpo,e T ~.5~ 1~`r-~ . Su ~ ~~. ~., ~ ~. ~~ "OFFICIAL S~AI-" Michelle Gibas Notary Pu61ic, State of Illinois Iu1y Commission Exp. (17/2212D07 ~a~e-~--ef-~ Updated 10/7/04 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY BEING DEVELOPED WITH OFFSITE IMPROVEMENTS 'r.: 6xhf,bit q PARCEL 1: THE SOUT!iEAST 7./k OF SfiCTION 20, TOWNSHIP 27, NORTH, RANGffi 9, e.iiST OF Z7IE ^.HIRD PRINCIPAL ~RInl~ti, IN WILL, COQN7.'Y, ILLINOIS AI*RCEL 2: 'ISIS 30t7S7t 20 ACRES OF TH$ >r"SST 1/2 OF TF.B NOR:NTfRaT :/k DF SECTION 20, TOWNSHIP 27 NO,YTti, RAAIGS 9, FAST DF I}I8 THIP.17 PRINCIPAL MERIDIAN, TN WI7.L COII27'X'Y, TLLT:70T3 PAACFL 3 t 'Frig SOOR'I31~IE$T I/4 OF TFIS NORTFIWSST 1/k Os 5ECTIOSI 21, "_'DkTiSHIP 37 NORTH, RANGS 9, BAST OF TAS THIRD PRINCIPAL MSRTDIRlI, TN WILL COpNTI, IL7-INOIS PARCSL 4x THS NORTHHEST 1/4 OF TH$ SODTtiWE5T 1/4 OF SSCTION 21, TOWNSHIP 37 NORTB, RiSiGB 8, F1:ST OP TX$ TI;IRA eRlxcl~aa, rffiselnuua, IN WIIS. COVNZY, ILx,SNOTS EXHIBIT B Legal Descriptions for Benefited Properties VARLEY PARCEL Approx. 40 acres of land, being the West half of the Northwest Quarter of Section 28 and the southwest Quarter of the Southwest Quarter of Section 21, in Township 37 North and in Range 9 East of the Third Principal Meridian, in Will County, Illinois. CULVER/MATHER PARCEL Approx 80 acres of land, being that part of the Northeast quarter of Section 32, Township 37 North, Range 9 East of the Third Principal Meridian which lies south and west of the right of way of the Joliet, Plainfield and Aurora Electric Railway in Will County, Illinois, and also that part of the West half of the Northeast Quarter of Sectian 32, Township 37 North, Range 9 East of the Third Principal Meridian, that lies north and east of the right of way of the Elgin, Joliet and Eastern Railroad in Will County, Illinois. ° ~ Exhibit B Recapture Distribution Century Trace Sewer/Water Recapture (Varley & Culver/Mather Properties) Parcel Owner PAID ~~~;~~ 01-21-30Ci-b03 CulverrMbtNier 01-21-3D0-002 Varley D Sabodosh ~ AAeser PAID #~{er+>:a~e-~9aks WATER SEWER Reallocation Allocated Allocated Existing Percent Extension Percent Extension Extension Combined Acres Acres Reca ture Acres Acres Recapture Recapture Reca ture r~Fa paid $A ~6A ~&.~% $6~8a2 $a4:-~4 $4 8D :'21:,D5% $8;903 60 14.$7% $31;926 '$27,131 ~87;.9..6fJ 4D : '10.5'3°/a $14,452 X40 7;a1 % $15;963 $13,5.65 $43;9$f1 0 O.DO% $0 0 0.00°/a $0 $0 $0 ~D 6~-4~°A $9~9~6 ~6A 4S-~a°6 $4~~A $4 $79 ala $~~ r~Fa paid Q'~',"^o-'r $2339 $74 ; ~ 380 100.00% $198,440 540 100.00% $243,308 $206,761 $648,,509 TQTAtAMO(JNT:RI~{VlA1N/Np:TQRECAPTURE :$43,355 i $47,8$9 ' $'40,696 $137;94D ~ ~ 'I I ,I I -I I I ~ I II ~ I ~ I I i I ~ .,I pT~(~~} -vn9 Si Y "/ F¢. 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I I I ~~ I I I I ____.-__________ I ___________ __ 4 ,. -O4~ ~O @ ¢a,pe U 0 9~ RP _ _.Ir ~ p saw ~ ~~ CULVER/MA7HER 01-21-300-003 _~ 80 Acres ¢O. PP VARLEY 01-21-300-002 40 Acres i~a I I I I I I -PP/ I I pv2 I dP.ao (1 (~~ da.oo I I I I --~eP`--r--moo -•f----- I -r-__~_e-~ I ` -oia I _P~e ~I ~ ra~3YB I ro.a7q I I I" IS ,p/tl I I ~ ~ I /a•OC t -7-;:a-- ----r- ---.--- . I _ I -P 24 °N ~ 3.34g Qi I ~ I I , 3$31 _ ~ -oa9 _ s_~ay_ ?~ ri 47 I - I _ ... ir~~~ L__~C~ -_-~~._..-.__I___-_.._ -_---___.__ I -~/ ai4 I 3500 75.PP I I I I~~7A SI GHAP/NS . ., P e. G ~`4~ ~~ ~~