O-95-22ORDINANCE NO. 0 -95 -22
AN ORDINANCE AMENDING CHAPTER 20 OF THE MUNICIPAL
CODE OF THE VILLAGE OF DEERFIELD, ILLINOIS OF 1975 AND
SECTION 4 -103 OF THE VILLAGE OF DEERFIELD DEVELOPMENT CODE
Published in pamphlet
7th day of June
by the President and
Trustees of Deerfield
JKS \33323.1 6/1/95
form this
1995
Board of
ORDINANCE NO. 0 -95 -22
AN ORDINANCE AMENDING CHAPTER 20 OF THE MUNICIPAL
CODE OF THE VILLAGE OF DEERFIELD, ILLINOIS OF 1975 AND
SECTION 4 -103 OF THE VILLAGE OF DEERFIELD DEVELOPMENT CODE
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES,
ILLINOIS, AS FOLLOWS:
SECTION That Chapter 20 of the Municipal Code of the
ONE: Village of Deerfield of 1975 as amended being the
Subdivision Code of the said Village be and the
same is hereby further amended by deleting Section 9.107 and
substituting a new Section 9.107 as follows:
119.107 Deposit Letter of Credit or Escrow in Lieu of
Bond. A plat of subdivision may be approved upon
filing with the Village Manager satisfactory evidence
of the execution of a trust agreement, escrow
agreement, or furnishing of a Letter of Credit
providing that an amount equal to 1250 of the estimate
of the Village Engineer of the cost of the construction
and installation of such improvements has been
deposited in a trust or escrow fund, or that an
irrevocable Letter of Credit has been issued to the
Village of Deerfield as beneficiary thereunder in an
amount, form and duration satisfactory to the Village
of Deerfield, that the proceeds are to be used for the
construction and installation of such improvements. The
Village Engineer shall review the amount on deposit on
the second anniversary of deposit and each two years
thereafter. To the extent that the Village Engineer
estimates that the cost of the improvements shall have
increased, the Village shall require a corresponding
increase in the deposit. The Village Manager may
authorize the release of such deposit or letter of
credit upon the satisfactory completion of all or
portions of said improvements and providing that an
amount equal to 10% of the estimated cost of such
improvement shall be held by or on behalf of the
Village for a period of one year after the final
completion and approval of such improvements as a
guarantee against any defect in the material or
workmanship furnished in connection with such
improvements latent in character and not discernible at
the time of the final approval of such improvements and
to guarantee against any damage to such improvements by
reason of the settling of the ground, base or
foundation thereof. No subdivision shall be approved
JKS \33323.1 6/1/95
ORDINANCE NO. 0 -95 -22
AN ORDINANCE AMENDING CHAPTER 20 OF THE MUNICIPAL
CODE OF THE VILLAGE OF DEERFIELD, ILLINOIS OF 1975 AND
SECTION 4 -103 OF THE VILLAGE OF DEERFIELD DEVELOPMENT CODE
unless there has been filed a bond or bonds as
described in Section 9.106 or evidence of an escrow,
trust agreement or issuance of a letter of credit to
the Village of Deerfield in accordance with the
provisions of this section."
SECTION That Section 4 -103 of the Village of Deerfield
TWO: Development Code, as amended, be and the same is
further amended by deleting 'Section 4 -103 and
substituting in lieu thereof the following:
"SECTION 4 -103 AMOUNT OF PERFORMANCE GUARANTEE
The applicant shall submit to the Village Engineer
estimates for the cost of construction (or actual
executed construction contracts) for public and private
improvements contemplated in the final engineering plan
and final improvement plan. The Village Engineer shall
review such estimates or construction contracts and, if
acceptable, approve the amount of the performance
guarantee. The amount of the performance guarantee
shall be based upon:
A. 125 percent of the total estimate of
construction costs and inspection fees for
all guaranteed improvements; or
B. 125 percent of the total construction costs
as indicated in an approved and executed
construction contract plus inspection fees
,for all guaranteed improvements.
C. In addition to the amount in A or B above, a
sufficient amount shall be included to cover
the estimated cost of a construction manager
in the event that the applicant does not
complete the improvements contemplated.
Further, in the event the construction period
exceeds two (2) years the Village Engineer
shall have the right to review the cost
estimated and after each two (2) year period
and require increases in the amount of the
performance guarantee based on increases in
said estimated cost."
JKS\33323.1 6/1/95
ORDINANCE NO. 0 -95 -22
AN ORDINANCE AMENDING CHAPTER 20 OF THE MUNICIPAL
CODE OF THE VILLAGE OF DEERFIELD, ILLINOIS OF 1975 AND
SECTION 4 -103 OF THE VILLAGE OF DEERFIELD DEVELOPMENT CODE
SECTION That the Village Clerk is hereby directed to
THREE: publish this Ordinance in pamphlet form.
SECTION That all ordinances or parts of ordinances in
FOUR: conflict herewith are, to the extent of such
conflict, hereby repealed.
AYES: Ehlers, Heuberger, Rosenthal, Seidman, Swanson, Swartz (6)
NAYS: None ( 0 )
ABSENT: None (0)
PASSED this 5th day of
APPROVED this 5th day of
ATTEST:
GE CLERK
JKS\33323.1 6/1/95
June
June
A.D., 1995.
A.D., 1995.
"'IN- i