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Home My WebLink About91-0313 Old Main Payout c11- b3k3 RESOLUTION APPROVING PAYOUTS FROM THE OLD MAIN RESTORATION ESCROW ACCOUNT WHEREAS, the City of Elgin is the owner of certain real property upon which is a structure commonly known as Old Main; and WHEREAS, the City of Elgin and the Elgin Historical Society have entered into an agreement wherein Old Main is to be renovated and occupied by the Historical Society as a historical museum; and WHEREAS, pursuant to said agreement the plans and contract documents of such renovation are subject to the prior approval of the City of Elgin; and WHEREAS, on March 22, 1989. the City of Elgin, the Elgin Area Historical Society and the First National Bank of Elgin (escrowee) entered into an escrow agreement which established the Old Main Restoration Account and authorized the escrowee to make payments from said account on the written direction of the City of Elgin and the Historical Society; and WHEREAS, renovation work has been continuing and application has now been made for the payment of $12,968.00 from the escrow account. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that the First National Bank of Elgin is authorized and directed to release funds from the Old Main Restoration Account in the following amounts to the following suppliers : Mielke-Lauderdale Electrical Contracting Company $ 7,000 . 00 D & J Design Company $ 5,968 . 00 per the written directions of the Elgin Area Historical Society dated February 28, 1991 and March 4, 1991 respectively, a copy of which is attached hereto and made a part hereof by reference. s/ George VanDeVoorde George VanDeVoorde, Mayor Presented: March 13, 1991 Adopted: March 13, 1991 Vote: Yeas 6 Nays 1 Recorded: Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk in t4°ff_E�, Agenda Item No. _y 1 " 0 nO�O ,. 44EED f�g1 March 5, 1991 TO: 'Mayor and Members of the City Council FROM: Larry L. Rice, City Manager SUBJECT: Old Main - Consideration of a Payout from the Escrow Account PURPOSE This memo is written to submit invoices in accordance with the agreement between Elgin Area Historical Society and the City of Elgin for the release of funds from the Old Main Restoration Escrow Account. rBACKGROUND An Escrow Agreement was drafted on March 23, 1989 between the City of Elgin, the Elgin Area Historical Society, and the First National Bank of Elgin, whereby the Elgin Historical Society deposited funds into an account known as the "Old Main Restoration Account" . This account was established for the purpose of payment to contractors for restoration work completed on the second and third floors of Old Main. The Elgin Area Historical Society is requesting the release of funds from the Old Main Restoration Escrow Account in the amount of $12 ,968 .00 for the payment of the following contractors utilized for repairs completed to Old Main: Mielke-Lauderdale Electrical Contracting Company $7,000.00 (Payout #2) D & J Design Company (sprinkler system) $5 ,968 .00 Total: $12 ,968 .00 FINANCIAL IMPACT There would be no financial impact on the City, other than a request to waive building permit fees, which would mean that we would bear the cost of inspections . Memo to City Council March 5 , 1991 Page 2 411 RECOMMENDATION Authorize payout from the Old Main Restoration account for the amount of $7,000 .00 and $5,968 .00 to Mielke-Lauderdale Electrical Contracting, Company and D & J Design Company, respectively. �liLLc�t � Lar Rice City Manager 47) A) • stn Elgin Area Historical Society • Cae5 February 28, 1991 TO WHOM IT MAY CONCERN: RESOLVED: The Elgin Area Historical Society gives written direction on February 28, 1991, to First National Bank of Elgin to release funds in the following amount to the following contractor, from the Old Main Restoration Escrow Account. Bill submitted February 28, 1991. Mielke-Lauderdale Electrical Contracting Company $7,000.00 Payout 42 li\at Marg re L. Kruege Co-Chairman, Restoration Committee Elgin Area Historical Society ucix Mary ice Clute Elgi rea Historical Society 360 Park Street, Elgin, Illinois 60120 (312) 7424248 MIELKE-LAUDERDALE [ ELECTRICAL CONTRACTING CO. 1418 Illinois Parkway ELGIN, ILLINOIS 60123-3224 6806 (708) 742-2653 'DATE ORDER No. 2/25/91 TO SHIP TO MARGARET KRUEGER 644 OAKLAND ELGIN, IL 60120 ilINU PENSON DATE MIMEO - _ ._ - M7PPED1HI - ...-,..,. rW Me-PONT ,.� z _.: IBMS ...�.__. - ,-,;.-_. _"v: :-.,�. -- -__ ._...�,,.... „�,._.: E1CAAiDN F ...a,..._,.._a .'_-:_ _ , -., .?.�,__.__ A _..toff race OTM. OLD MAIN RENCWATION — PAY REQUEST #2 $34.000__00_ • > 7.000_____00..-- > ORIGINAL grartkCij&w NgalCTIN4LAiOcaNIN1YN.0Nit TOWROPE TOLL REf,abasar • • • MIELKE-LAUDERDALE Statement of Contras ELECTRICAL CONTRACTING CO. 1418 Illinois Parkway Ea PARTIAL 0 COMPLETE 0 RETAINAGE ELGIN, ILLINOIS 60123 WO4CE mom (708)742-2653 From: 1/31/91 To: 2/28/91 CONTRACT NO PROJECT NO TO: MARGARET KRU2 PROJECT NAME 644 OAKLAND OLD MAIN RENOVATION PROJECT ADDRESS ELGIN, IL 60120 ELGIN, IL P,,0.E ARCNiTECT STATEMENT OF CONTRACT: • > ORIGINAL CONTRACT AMOUNT_ _ $ 19,000.00 CHANGE ORDERS TO DATE ADJUSTED CONTRACT AMOUNT _ _...._ _____ _..r._ $ 19,000.00 CHANGE ORDER RECORD: • NO. OF CHANGE ORDERS TC, DATE CHANGE ORDER INCREASE __ $ CHANGE ORDER DECREASE . _.__ NET CHANGE R -O- SUMMARY OF PAYMENTS: TOTAL BILLED TO DATE $. 10,000.00 TOTAL RETAINAGE TO DATE S –0– TnTAL PAYMENTS RErcIVE-- $ �- ''APINT IN -PROCESS---.— __ ` 10,000,0 $ . AMOUNT THIS ��:- _ $ 7,000.00 LESS % RETAINAGE .._.. _ $ -0- • PAY THIS AMOUNT >► $ 7,000.00 CERTIFIED BY: The undersigned certifies that to the best of their knowledge, information, and belief, the work covered by this staterr.en• . has been completed in accordance with the contract documents. That all amounts have been paid for which previous statements were issued and payments/ received, nd that the current payment shown is now due. X `"'r. � 4•4400.4•844 Date 2/25/91 X Date • X • Date 4504 Goma Ws.OiCi.T•ONO"MOW TOLL MEE 1• • Thank You tt stv GO dt"d Elgin Area Historical Society hex Y .„.8) Icat March 4, 1991 TO WHOM IT MAY CONCERN: RESOLVED: The Elgin Area Historical Society gives written permission on March 4, 1991, to First National Bank of Elgin to release funds in the following amount to the following contractor, from the Old Main Restoration Escrow Account. This bill was submitted to the Society by contractor on March 1, 1991. D & J DESIGN COMPANY (Sprinkler System) $5968.00 Payout #1 4\1w.t.t \..Y‘ Mar. et L. Krueg Co-' - irman, Resto tion Committee Mar lice Clute ll► Elg Area Historical Society 360 Park Street, Elgin, Illinois 60120 (312) 742-4248 D J DESIGN CO. A COMPLETE FIRE PROTECTION SERVICE CO. P.O. BOX Sia 723 TELEPHONE:7 -428-8683 CARPENTERSVILLE, ILLINOIS 60110 STATEMENT • Date: 02/25/91 Elgin Area Historical Society - 360 Park St Elgin IL 60120 Attn: Restoration Committee TERMS: Net Cash Our Job *900660 Old Main 360 Park St Elgin, IL Installation of sprinkler equipment: Contract Price $ 6,631.00 Partial Payment Due $ 5,968.00 D g J DESIGN CO. A COMPLETE FIRE PROTECTION SERVICE CO. P.O. BOX _ 723 TELEPHONE: 708-428-8683 CARPENTERSVILLE, ILLINOIS 60110 STATEMENT • Date: 02/25/91 Elgin Area Historical Society 360 Park St Elgin IL 60120 Attn: Restoration Committee TERMS: Net Cash Our Job #900660 Old Main 360 Park St Elgin, IL Installation of sprinkler equipment: Contract Price $ 6,631.00 Partial Payment Due $ 5,968.00 • 1