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HomeMy Public PortalAboutResolution 1118RESOLUTION NO. 1118 A RESOLUTION AUTHORIZING THE EXECUTION OF A RECAPTURE AGREEMENT FOR VAN DYKE ROAD BETFTEEN THE VILLAGE, POST OFFICE AND FRANK KELLER TRUST. NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, AS FOLLOWS: I: That the Village President is hereby authorized to execute and the Village Clerk is hereby authorized to attest to the execution of a Recapture Agreement in a form substantially similar to the attached exhibit for Van Dyke Road between the Village, Post Office and Frank Keller Trust. PASSED THIS 11th .DAY OF SEPTEMBER, 1995. ILLAGE CLE APPROVED THIS 11TH DAY OF SEPTEMBER,1995. ,n- ,; A 4 RESI NT ~,a, ~ r AGREEMENT AN AGREEMENT TO PROVIDE FOR THE RECAPTURE OF PAYMENT FOR OFFSITE STREET ROADWAY AND OTHER PUBLIC IMPROVEMENTS. This Agreement made this day of , 1995, by and between The United States Postal Service, an Independent Establishment of the Executive Branch of the Government of the United States of America, (hereinafter referred to as the "Postal Service"), and the Village of Plainfield, a municipal corporation located in Will County, Illinois (hereinafter referred to as "Village"), and the Frank Keller Trust, Trust Number 7-777 at Firstar Naper Bank, (hereinafter referred to as the "Kellers") WHEREAS, the Kellers are the owners of record of real estate described on Exhibit "A" (hereinafter referred to as the "Subject Property"), which has been annexed to the corporate limits of the Village of Plainfield; and WHEREAS, the Postal Service intends to receive title from the Kellers to a certain property as described as Exhibit "B" which is a portion of property included in Exhibit "A", with the expressed ,intent to construct a new postal facility for the Village and it's surrounding service area; and WHEREAS, the Village requires that as a prerequisite to the approval of a final plat of subdivision, if required, that the Postal Service make certain offsite street, roadway and right of way improvements (hereinafter collectively referred to as the "Improvements"); and WHEREAS, the Improvements are in excess of the Postal Service needs for the subject property and are valuable and substantial improvements to the Village's roadway network and storm water management systems; and WHEREAS, the Improvements are anticipated to be used by adjoining and nearby property owners; and WHEREAS, the Improvements will be dedicated to the Village as provided by the Village's Subdivision Ordinance; and WHEREAS, it is the opinion of the corporate authorities of the Village of Plainfield that such Improvements may be used for the benefit of property other than that described in Exhibit "B" including other property described in Exhibit "A", and property described in Exhibit "D" (the property commonly known as the Larry's Diner property) which said other properties are adjacent to said improvements referred to herein; and WHEREAS, the Village is authorized by the Illinois Municipal Cade (65 ILCS 5/9-5-1 et seq.) to enter in agreements to provide for the recapture of all site improvements costs. NOW, THEREFORE, in consideration of the Covenants and Conditions herein contained, it is agreed as follows: Section 1. Resolution. The Village shall adopt a Resolution authorizing the execution of this Agreement. Section 2. Road Right-Of-W That the property legally described on Exhibit "C" attached hereto specifically includes that portion of the property referred to as the Dedication of Right-of-Way for a new North/South collector road, hereafter referred to as Van Dyke Road extended which indicates hereinafter aRight-Of-Way consisting of 80 feet East to West and 1,256 feet North to South. Said Right-Of--Way is adjacent to the Post Office site on it's westerly 600 feet. All property adjacent to said Exhibit'"C", including the property described in Exhibits "A" and "D" shall constitute the benefitted properties. 2 Section 3. Road Design. Postal Service intends to begin construction, at its expense, of Van Dyke Road extended from the Right-Of-Way of U. S. Raute 30 North. Said road to be designed by the Postal Service and approved by the Village. Design. shall be of a collector cross section having 37 feet of pavement from back of curb to back curb, with a protected center median at U. S. Route 3D and intersection returns for a future East/West road at about the midsection of Van Dyke extended. In addition to the road, the Postal Service will construct the necessary storm sewer facilities, as well as extending a 10 inch ductile iron watermain the length of the read. The estimated costs of these improvements are to be $378,000. Section 4. Financing. In that the Village views the extension of Van Dyke Road to serve a community benefit by potentially fostering economic development, as well as commencing the construction of a critical component of it's transportation network, .the Village agrees to provide up to 25% of the cost not to exceed $100,000.00 for said construction. Said monies to be recapturable to the Village and the Postal Service upon payment by the benefitted properties at a reasonable rate as set-forth in Section #7. Said financing is available to the Postal Service upon completion of the improvement along with a detailed Engineer Certification of said costs. The Postal Service agrees to finance the balance of the construction costs, estimated at $278,000, and to also seek a recapture of said costs less their pro-rata share based upon frontage as measured from the center line of all adjacent Right-Of-Ways. 3 Section 5. Reca ture fvtethodolo In the event that the Postal Service and the Village makes the required improvements to Van Dyke Road extended, they shall be entitled to recapture the actual cost of the improvements including design and engineering fees as certified by the Past Office Engineer based upon a frontage calculation. The frontage calculation shall extend to the centerline of all Rights-Of-Ways adjacent to the benefitted properties on both sides of the Improvements. It is recognized that the proportionate shares set forth herein represent the proportionate share of the respective benefitted parcels if the Postal Service improves Van Dyke Road Extended. As for an example: Benefit Fronta e Proportionate 2 Times Total Project Frontage Share Section 6. Reca ture Collection. Prior to approving any final plat of subdivision (or planned unit development), any site development plan, or the connection to or use of said improvements, or the issuance of any building permit on any of the benefitted parcels except from the pasta) site, the Village shall collect any recapture amount due to the Postal Service and the Village. Section 7. Interest. In addition to the recapture amounts set forth herein, the Postal Service and the Village shall receive interest on the principal amount actually expended. Interest shall accrue at the annual interest rate of 5% and shall begin to accrue commencing two (2) years after acceptance of the improvements. Section 8. Recapture Distribution. Upon collection of the recapture amounts, the Village will distribute said monies to the Postal Service and the Village based upon the financial participation of each, excluding the Postal Service's pro-rata 4 share, within 30 days of receipt of funds. Section 9. Acceptance. The Improvements shall be accepted by the Village upon request of the Owners and recommendation by the Village Engineer. Section 10. Reca ture Period. The Postal Service and the Village shall be entitled to the recapture as herein provided for a period of 15 years after acceptance of the Improvements by the Village. Section 11. Additional Road Construction. In the event that the benefitted property lying directly South of the Post Office site develops, and as a condition of said development construct a Public Street within the adjacent Right-Of-Way, the Postal Service will reimburse the developer 1/2 the cast of the new improvements with an amount not to exceed $48,750.00. Said casts are payable to the developer upon acceptance of the improvements by the Village of Plainfield. In order to secure this payment the Village will maintain in escrow any recapture fees paid to the Postal Service until said time that the sum of $48;750 is collected. Should this additional road not be constructed prior to the expiration of this agreement, the Village will refund the escrow with its accumulated interest to the Postal Service. Section 12. Acknowledgement. The Village, Postal Service and the Kellers acknowledge that the Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective successors in title to the subject benefitted property, and their successors and their assignees, upon any successor municipal authorities of the Village and upon any successor federal authorities of the United States .Postal Service for a period of 15 years from the date of execution hereof, or far any such extended time that may be 5 .authorized by law. Section 13. Nothing in this Agreement shall in any way prevent the alienation, encumbrance, or sale of the property developed by Postal Service or Keller's or any portion thereof; and any subsequent owner or owners shall be both benefitted and bound by the conditions and restrictions expressed in this Agreement. Section 14. Within thirty (30) days after its execution, this Agreement shall be recorded in the office of the Recorder of Will County, Illinois. Section 15. Unless otherwise notified in writing, all notices, requests and demands called for by this Agreement or otherwise, shall be in writing and shall be personally delivered to, or mailed by the United States Certified Mail, postage prepaid and. Return Receipt Requested, as follows: For the Villa e John E. Peterson Village President TO: Village Hall 140D Division Street Plainfield, IL 6D544 For the Post Office With cogvTto: James B. Harvey Attorney At Law McKeown Law Offices 2455 Glenwood Avenue Joliet, IL 60435 With catay to:._ Henry O. Klein James Kinne Contracting Officer 222 S. Riverside Plaza TO: 222 S. Riverside Plaza Chicago, IL 60606-6150 Chicago, IL 60606-6150 For the Kelley's With co ta: TO: Frank Keller, Sr. Edward 1. Welch 27 W. 233 95th Street Attorney At Law Naperville, IL 60565 123 Water Street Naperville, IL 60540 b Section 16. a) This Agreement shall be governed by the Federal Laws of the State of Illinois and shall be enforceable in any United States District Court of competent jurisdiction by any of the parties hereto, by any appropriate action at law or in equity to secure the performance of the covenants herein cantained. b) If any provision of this Agreement is held invalid, such provision shall be deemed to be excised therefrom, and the invalidity thereof shall not effect any of the other provisions cantained herein. Section 1 T. The Parties agree that this Agreement and any exhibits attached hereto, may be amended only by the mutual consent of the Parties, by the adoption of an ordinance or resolution of the Village approving said amendment or resolution, as provided by law, and the execution of said amendment by the parties or their successors in interest. Section 1.8. Except as hereinafter expressly provided; this Agreement supersedes all prior agreements, negotiations and representations and is a full integration of the entire agreement of the parties. Section 19. To the extent of any conflict, ambiguity or inconsistency between the terms, provisions or standards contained in this Agreement and the terms, provisions or standards, either presently existing or hereafter adapted, in the Village Zoning Ordinance, the Village Subdivision Control Ordinance, the Village Site Plan Ordinance or any other Village Code, ordinance or regulation, the terms, provisions and standards of this Agreement shall govern and control. 7 Section Z0. The parties hereto acknowledge one to the other, that all actions necessary to be taken in order to authorize and approve the execution and performance of this Agreement have been taken. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals, and have caused this instrument to be executed by their duly authorized officials and the corporate seal affixed hereto,. all on the day and year first above written. VILLAGE: VILLAGE OF PLAINFIELD BY: ATTEST: VILLAGE CLERK BY: VILLAGE PRESIDENT UNITED STATES POSTAL SERVICE It's Agent FRANK KELLER TRUST, TRUST NUMBER 7-777 AT FIRSTAR NAPER BANK BY: It's Agent 8 STATE OF ILLINOIS ) SS. COUNTY OF WILL ) I~ , a Notary Public in and for said County, in the state aforesaid, DO HEREBY CERTIFY THAT and personally known to me to be the same persons whose names are subscribed to the foregoing instrument appeared before me this day in person and acknowledged that signed, sealed and delivered the said instrument. as free and voluntary act, for the uses and purposes therein set forth. Given under my hand and notarial seal this day of , 7 995• Notary Public IMPRESS SEAL HERE MY COMMISSION EXPIRES STATE OF ILLINOIS ) )SS. COUNTY OF WILL ) I, the undersigned, a Notary Public in and far the County and State aforesaid, do hereby certify that and personally known to me to be the President and Secretary, respectively, of ,and personally known to me to be the same persons whose names are subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that as such President and Secretary, they signed and delivered the same instrument as President and Secretary of said and caused the corporate seal of said to be affixed thereto, ,pursuant to authority given by the as their free and voluntary act, and as the free and voluntary act and deed of said ,for the uses and purposes therein set forth. Given under my hand and notarial seal this day of , 1995• Notary Public IMPRESS SEAL HERE MY COMMISSION EXPIRES 9