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HomeMy WebLinkAboutOrd 5005 04/06/1999 ORDINANCE NO. 5005 AN ORDINANCE AMENDING ORDINANCE NO, 4857 (ORDINANCE NO. 4857 GRANTING CERTAIN VARIATIONS FOR PROPERTY GENERALLY LOCATED AT 280-290 WESTGATE ROAD) IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS Passed and approved by the President and Board of Trustees the 6th day of April, 1999 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 7th day of April, 1999. ORDINANCE NO. 5005 AN ORDINANCE AMENDING ORDINANCE NO. 4857 (ORDINANCE NO. 4857 GRANTING CERTAIN VARIATIONS FOR PROPERTY GENERALLY LOCATED AT 280-290 WESTGATE ROAD) IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS WHEREAS, Ordinance No. 4857 granted certain variations when the improvements located at 280-290 Westgate Road were converted from rental apartments to condominiums pursuant to the Mount Prospect Code of Ordinances; and WHEREAS, the subject property is legal described as follows: Lot 17 in C. A. Goetz Prospect Gardens, being a subdivision of the West half of the southeast 1/4 together with the East 2/3 of the North 3/4 of the Northwest 1/4 of the Southwest 14 of Section 35, Township 42 North, Range 11, East of the Third Principal Meridian, in Cook County, Illinois ("Subject Property"); and WHEREAS, the Petitioner has placed Twenty Six Thousand Four Hundred ($26,400.00) Dollars in an escrow account for the installation of street lighting as required by Village Code; and WHEREAS, the Village has determined that the installation of the street lights is not necessary at this time; BE IT THEREFORE ORDAINED by the President and Board of Trustees acting in the exercise of their home rule powers: SECTION i: Ordinance No. 4857 shall be amended by adding a new Section 3A which shall read as follows: Sec. 3A, The cash escrow account for the Subject Property shall be reduced by Twenty Six Thousand Four Hundred ($28,400.00) Dollars at such time as this Petitioner executes a Covenant Running with the Land, as approved by the Village Attorney, that guarantees that the property owners association or its successor will pay for the installation of street lighting, acceptable to the Village, at such time as the installation is demanded by the Village. SECTION 2: That this Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: Clowes, Corcoran, Hoefert, Lohrstorfer, Nocchi, Wilks NAYS: None ABSENT: None PASSED and APPROVED this 6th day of Apri 1 ,1999. -'" Gerald L. Farley,'Village Presiden! ~ AT-rEST: C:\OFFICE~WPWIN\WPDOCS~MP\ORDSV~,MD4857. ORD 2 RESTRICTIVE COVENANT BY AND BETWEEN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS AND THE OWNER-DEVELOPER OF CERTAIN PROPERTY WITHIN SAID VILLAGE REGARDING COMPLETION OF REQUIRED PUBLIC IMPROVEMENTS PERTAINING TO THE DEVELOPMENT OF SAID PROPERTY 280-290 WESTGATE ROAD WHEREAS, pursuant to the provisions of Chapter 16 entitled "Development" of the Village Code of Mount Prospect, Illinois certain public improvements are required to be constructed and installed by owners and developers of property within the Village, as part of the approval for thc development of such property; and WHEREAS, the schedule for accomplishing the construction and installation of such public improvements by the owner-developer of the property under development is often in conflict with other public improvement projects adjacent to or in the viciniW of the property so as to render the accomplishment of such public improvements by the owner-developer to be practically or economically unfeasible until the project can be combined with or scheduled so as to conform with other public improvements affecting the subject property under development; and WHEREAS, such other public improvement projects are administered by the Village, County or State, officials over which the owner-developer has no control, and in some instances those improvements to be accomplished by the owner-developer with respect to the property under development cannot be completed until the other improvements under Village, County or State control have been accomplished; and WHEREAS, under such circumstances, it is deemed to be inequitable to delay development of the property under development or to require the owner-developer to establish a cash escrow, letter of credit or improvement bond for the purpose of guaranteeing the completion of required public improvements due to the delay caused by the intervening or subsequent accomplishment of other public improvement projects under administration and control of the Village, County or State; and WHEREAS, Chapter 16 of the Village Code of Mom~t Prospect, Illinois provides that in lieu of a cash escrow, letter of credit or development bond, the owner-developer may execute a restrictive covenant to be recorded and to run with the land as a guarantee that the required public improvements shall be completed with respect to the property under development. WHEREAS, the Village finds that it be in the best interests of the Village to accept a covenant to construct street lights in the future. NOW, THEREFORE, in accordance with the provisions of the said Chapter 16 of the Village Code of Motmt Prospect, Illinois, the Undersigned Owner does hereby covenant with the Village of Mount Prospect, an Illinois municipal corporation, as follows: 1. The Undersigned is the Owner of the following described property within the Village of Mount Prospect, Illinois, to wit: LOT 17 IN C. A. GOELZ PROSPECT GARDENS, BEiNG A SUBDMSION OF THE WEST HALF OF THE SOUTHEAST ¼ TOGETHER WITH THE EAST 2/3 OF THE NORTH % OF THE NORTHWEST ¼ OF THE SOUTHWEST ¼ OF SECTION 35, TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, iN COOK COUNTY, ILLiNOIS. 2. A plan of development of the described property by the Undersigned has been approved by the Village of Mount Prospect, which approval includes the completion of the following public improvements contained in and provided as a part of the plans, to wit: The payment for the installation of streetlights along Westgate Road and Cardinal Lane, installed and onstructed to Village Code. 3. For a period of twenty (20) years commencing from the date of this Restrictive Covenant, the Undersigned shall undertake the above-stated improvements within sixty (60) days after being advised by the Village of Mount Prospect to commence such construction and installation work. The work shall continue without interruption or delay, until the improvements are completed in a satisfactory manner and in accordance with Village, County, and State plans and specifications. 4. This Covenant to complete public improvements shall run with the subject property for twenty (20) years. Nothing in the Covenant shall in any way prevent the alienation or sale of all or a portion of the subject property, except that the sale shall be subject to the provisions of this Restrictive Covenant and to the plan of development pertaining to the property. The new owner shall be both benefited and bound by the conditions and restrictions herein expressed of this Restrictive Covenant. 5. This Covenant shall be binding upon and shall inure to the benefit of the parties and their successors and assigns in title and interest. The provisions shall be enforceable in a proceeding at law or in equity against the person or persons seeking to violate it including an action for injunctive relief, specific performance or to recover damages or other fines and penalties as may be established in such violation. In the event that the owner-developer of the subject property fails to complete the required improvements or pay a proportionate share of the required improvements by other contractors within the specified time periods, the value of such improvements shall be entered as a lien against the property due and payable within sixty (60) days after notification to proceed with the improvements. &WITNESS WItEREO~. the parties hereto have set their hands and seals this i~'~ dayof ? ,19 _'7__7__. OWNER Real Estate Index No. -2-