1 - Village of Palatine

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RESOLUTION NO .._____ Resolution Authorizing a Draw of Security for Michigan Court Subdivision (LOC #670021682-201) Pursuant to the Village of Palatine Municipal Code, Appendix B, Subdivisions, Section 9.02 WHEREAS, on the 10 th day of September, 2010, Michael's of Palatine Construction Company, for good and valuable consideration agreed to install certain public improvements in the Michigan Court Subdivision; and WHEREAS, pursuant to Section 9.02 of Appendix B, Subdivisions of the Palatine Municipal Code, an owner or developer of a subdivision is required to deposit certain security or evidence thereof with the Village of Palatine to guarantee the installation of such public improvements; and WHEREAS, in the matter of the Michigan Court Subdivision located at the southeast corner of Michigan and Plum Grove Roads, an Irrevocable Letter of Credit #670021682-201 (First Midwest Bank) in the amount of $213,016.38 was deposited with the Village of Palatine on the 10 th day of September, 2007 and was subsequently reduced to $49,856.95; and WHEREAS, work remains pursuant to the Subdivision and includes various items related to the approved plan. Substantial time has passed for these various items and deficiencies to have been completed; and WHEREAS, the Village of Palatine desires to draw on its entirety such Irrevocable Letter of Credit #670021682-201 (First Midwest Bank) pursuant to the terms thereof. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Village of Palatine that:
SECTION 1 : Michaels of Palatine Construction Company., the developer/owner of Michigan Court Subdivision has breached its obligation to satisfactorily complete the required improvements and the Village has notified the developer /owner of such breach. SECTION 2 : It is recommended that a draw in its entirety upon the Letter of Credit #670021682-201 (First Midwest Bank) be authorized. PASSED: This ______ day of ______, 2012 AYES: ____NAYS: ___~ABSENT: ____PASS: ____ Mayor ATTESTED and FILED in the Office of the Village Clerk this ____ day of_________, 2012 Village Clerk
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Village Manager's Office VILLAGE OF
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VILLAGE COUNCIL MEETING COMMITTEE O
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Minutes of the Regular Meeting of t
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TYPE: ORDINANCE SUBMITTED BY: PLANN
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ORDINANCE NO. ___ AN ORDINANCE GRAN
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DEPARTMENT OF PLANNING & ZONING 200
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ZONING BOARD OF APPEALS JUNE 12,201
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PLAT OF SURVEY Lo'r 4 IN BLOCK "11
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DEPARTMENT OF PLANNING & ZONING 200
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ZONING BOARD OF APPEALS JUNE 12, 20
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SPECIAL USE TRANSFER JUN - 4 2012
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Village Manager's Office VILLAGE OF
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ORDINANCE NO. _____ AN ORDINANCE AM
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Page 129 and 130: PLAN COMMISSION Tuesday, April 17,
Page 131 and 132: plan commission tuesday, april 17,
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Page 135 and 136: ORDINANCE NO. _____ AN ORDINANCE AU
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Page 147 and 148: TYPE: MOTION SUBMITTED BY: Finance
Page 149 and 150: CONSENT AGENDA MONDAY, JUNE 25, 201
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Page 155 and 156: TYPE: ORDINANCE SUBMITTED BY: ADMIN
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Page 159 and 160: TYPE: MOTION SUBMITTED BY: Finance
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Page 163 and 164: SPECIAL USE TRANSFER Business Owne
Page 165 and 166: proprietor without amendment to the
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Page 169 and 170: RESOLUTION NO. ____ Resolution Aut
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Page 175 and 176: RESOLUTION NO. _____ Resolution Au
Page 177 and 178: TYPE: RESOLUTION SUBMITTED BY: PLAN
Page 179 and 180: SECTION 1 : Inverness Financial, In
Page 181 and 182: RESOLUTION NO. ____ Resolution Aut
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Page 185 and 186: NOW, THEREFORE, BE IT RESOLVED by t
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Page 191 and 192: SECTION 1: Approval pursuant to the
Page 195 and 196: TYPE: MOTION SUBMITTED BY: PLANNING
Page 197 and 198: NON-NEGOTIABLE DRAFT FOR DISCUSSION
Page 199 and 200: Village Manager's Office VILLAGE OF
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1 - Village of Palatine

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