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Resolution 2025-115Resolution No. 2025-115 A RESOLUTION OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS APPROVING THE RELEASE OF A PERFORMANCE GUARANTEE BOND RELATED TO GRANDE RESERVE UNIT 15 WHEREAS, the United City of Yorkville (the "City") is a duly organized and validly existing non home -rule municipality created in accordance with the Constitution of the State of Illinois of 1970 and the laws of the State; and WHEREAS, Grande Reserve (Chicago) ASLI VI, L.L.L.P., an Illinois limited liability limited partnership ("Developer") submitted a Performance Guarantee Bond in the amount of $97,889.00 to the City, related to the development of Grande Reserve Unit 15 (the "Project"); and WHEREAS, the Developer has completed the Project and all punch -list items from the Project's one year warranty period; and WHEREAS, City staff and engineering consultants recommend the release of the Performance Guarantee Bond to the Developer. NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the United City of Yorkville, Kendall County, Illinois: Section 1. That the foregoing recitals are hereby incorporated in this Resolution as the findings of the Corporate Authorities. Section 2. That the fall Performance Guarantee Bond in the amount of $97,889.00 be released to Grande Reserve (Chicago) ASLI VI, L.L.L.P., as recommended by the City's engineering consultants, Engineering Enterprises, Inc. Section 3. That this resolution shall be in full force and effect from and after its passage and approval according to law. Resolution. No. 2025-115 Page 1 Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this 28" day of October, A.D. 2025. KEN KOCH AYE ARDEN JOE PLOCHER AYE CHRIS FUNKHOUSER AYE RUSTY CORNEILS AYE T" L I Y CLERK DAN TRANSIER AYE CRAIG SOLING AYE MATT MAREK AYE RUSTY HYETT AYE APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois this � day of d o- , A.D. 2025. Attest: Y CLERK Resolution No. 2025-115 Page 2 /Ct' ®•- ��' wr �{av`enhill � -- I — - Seeley St o r n 1 N wz �o Lehman Crossi w 2 �asaO-4Lp 1 s �IattiocgD4 E ( 1 F fll+ 1 = 1 x�o� sra a �s m stsseti ur gaileY RdTv 1l ��rysdY R8 I LL 1 = ` to - �ny�edy� ti 1 1 a1m o r 4 wtl gj III Il 11 O © I 1