HomeMy WebLinkAboutT26-05 (2) Ordinance No. T26-05
AN ORDINANCE
PROVIDING FOR THE REIMBURSEMENT
FROM BENEFITTED PROPERTY OWNERS OF THE COST OF A
PORTION OF THE OTTER CREEK INTERCEPTOR SEWER
AND WATER MAINS 1
WHEREAS, Pingree LLC, an Illinois limited liability company("Crown"), and Wennlund
Farm,L.L.C.,an Illinois limited liability company("Wennlund Farm)(Crown and Wennlund Farm
being hereinafter collectively referred to as the "Developer") have agreed to construct certain
sanitary sewer and water improvements which are known as the Otter Creek Interceptor Sewer
Phases 4A and 4B and the Otter Creek Interceptor Sewer and Water Main Phases 5A and 5B
(hereinafter referred to as the "Subject Sewer and Water Impovements") which are depicted and
described on Exhibit 1 attached hereto and made a part hereof; and
WHEREAS,Developers are the owners of property wrich,along with properties owned by
others, will receive sanitary sewer and water service from the Subject Sewer and Water
Improvements; and 1
WHEREAS,pursuant to previous agreements the City ins determined to and agreed to pay an
amount not to exceed $10,000,000 for the costs of constructing the Subject Sewer and Water
Improvements; and
WHEREAS,based upon current estimates,the total amounts that would be required for the
completion of the construction of the Subject Sewer and Wa er Improvements, including costs for
the acquisition of easements, soil borings, permitting, facili y planning area expansions, wetland
mitigation, engineering, surveys, inspections, construction materials, letters of credit, bonds,
insurance and a construction management fee are in the total amount of$18,994.657.37(hereinafter
referred to as"Project Costs") as set forth in the Cost Estim4te dated September 8, 2005, attached
hereto as Exhibit 2; and 1
WHEREAS, upon completion of the project the Developers shall provide to the City's
Finance Director a complete accounting of all Project Costs for the City Finance Director's review
and approval in order to determine the final amount of the Project Costs and of Developers'Costs
Advanced (as hereinafter defined); and
WHEREAS,Developers have agreed to be responsible and pay for all Project Costs in excess
of the$10,000,000 to be paid by the City subject to recapture las provided for in this ordinance(such
monies expended by Developers in excess of the$i o,000,Ogo reimbursement from the City for the
Project Costs for the Subject Sewer and Water Improvements are hereinafter referred to as
Developers' "Costs Advanced"); and
WHEREAS, the construction of the Subject Sewer and Water Improvements makes the
Subject Sewer and Water Improvements accessible to certain nearby properties and thereby benefit
said properties; and
WHEREAS,it is reasonable to require the owners of prperty which may connect to and will
use the Subject Sewer and Water Improvements to bear and reimburse to the Developers a portion of
the costs of the Subject Sewer and Water Improvements in the event that said owners desire to
connect to and use the Subject Sewer and Water Improvements; and
WHEREAS, the City of Elgin is a home rule unit aullthorized to exercise any power and
perform any function pertaining to its government and affairs; and
WHEREAS,the construction of sanitary sewer improvements and water main improvements
and the allocation of the costs of such improvements to benefitted properties pertains to the
government and affairs of the City of Elgin; and
WHEREAS,properties which will benefit from the Subject Sewer and Water Improvements
are those properties which may connect to and use the Subject Sewer and Water Improvements(such
properties are hereinafter referred to as the "Subject Benefittdd Properties"); and
WHEREAS, the City Council of the City of Elgin here by finds that the share of the cost of
the Subject Sewer and Water Improvements to the Benefitted Properties to reimburse Developers
their costs advanced for the Project Costs for the Subject Sewer and Water Improvements should be
based upon the uses developed thereon and the proportionate Share is$1,800 for each dwelling unit
(detached,attached and multi-family)if residential uses are 4veloped on the Benefitted Properties
and $6,000 per acre if commercial, industrial, office or other uses are developed thereon.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section 1. Except as otherwise specifically provided in this ordinance, the owner of any
of the Subject Benefitted Properties who desires to connect and to use the Subject Sewer or Water
Improvements shall pay to the Developers the amount allocated as the share to reimburse the
Developers their costs advanced for the Project Costs of the Subject Sewer and Water Improvements
being the amount of $1,800 for each dwelling unit (detched, attached and multi-family) if
residential units are developed on a Benefitted Property nd $6,000 per acre if commercial,
industrial, office or other uses are developed thereon. Notwithstanding the foregoing, or anything
else to the contrary in this ordinance, the Crown Property legally described in the Annexation
Agreement between the City and Pingree LLC dated February 25,2004(hereinafter referred to as the
"Crown Property"),the Pingree Creek L.L.C. and Wennlund Farm Property legally described in the
Annexation Agreement between the City and Pingree Cre0k, LLC dated February 25, 2004, as
amended by the amendment thereto dated July 27,2005, (hereinafter referred to collectively as the
"Wennlund Farm Property"), the MB Financial Property legally described in the Public
Improvements Construction Agreement regarding the Subject Sewer and Water Improvements dated
December 21,2005(hereinafter referred to as the"MB Finandial Property")and any property owned
by the City of Elgin or any other governmental unit(hereinafter referred to as"City or Governmental
Property") shall not be subject to this recapture ordinance and the Crown, Wennlund Farm, the
owners of the MB Financial Property, City of Elgin and any other governmental unit shall not be
required to pay any recapture pursuant to this ordinance or otherwise for such Crown Property,
Wennlund Farm Property, MB Financial Property or `City or Governmental Property.
Notwithstanding the foregoing,or anything else to the contrary in.this ordinance,recapture payments
for the property known as Shadow Hill Unit 4 currently owned by Chicago Title Land Trust
Company,as successor to LaSalle Bank National Association,as the Trustee under Trust Agreement
dated September 1,2004,and which is known as Trust No. 1321504 shall be paid to the Developers to
reimburse the Developers for their Costs Advanced for the Project Costs for the Subject Sewer and
Water Improvements as set forth in the agreement between Developers and Centex Homes dated
November 30,2005. Payment shall be made prior to the recorcing of a final plat of subdivision for a
Subject Benefitted Property or a portion thereof and the amount shall be calculated upon the number
of dwelling units or acres in the subject final plat of subdivision. An authorized representative of the
Developers shall issue a certificate of payment in the form appioved by the City upon the payment of
reimbursement from the owner of a benefited property.
Section 2. Except for the Crown Property, Wenplund Farm Property, MB Financial
Property or any property owned by the City of Elgin and any ether governmental unit,no property
that will be connected to or use the Subject Sewer and Water Irpprovements shall hereinafter receive
final plat approval from the City or hereinafter be issued a building permit or otherwise be permitted
to connect or to otherwise use the Subject Sewer and Water Improvements until such time as
payment is made to the Developers in the amounts as set forth in this ordinance. Payments due to the
Developers shall be paid in the following ratios: Crown 5Q%, and Wennlund Farm 50%. The
current Facility Planning Area which identifies the current service area of the properties which may
connect to and use the Subject Sewer and Water Improvements is attached hereto as Exhibit 3.
Notwithstanding the current boundaries of such Facility Planning Area, in the event such Facility
Planning Area is expanded and/or any additional properties are proposed to be connected to or use
the Subject Sewer and Water Improvements, such additional properties shall also be subject to the
terms of this ordinance.
Section 3. The reimbursement amounts set forth in Section 1 hereof shall each increase at
the rate of 5%per annum beginning July 1,2006 and such annual increase shall continue on the first
day each July thereafter until Developers have been fully reimbursed Developers' Costs Advanced
for the Subject Sewer and Water Improvements and interest thereon. Beginning with the completion
of the Phase of the Subject Water and Sewer Improvements for which Developers have paid Costs
Advanced, interest shall accrue at the rate of 6.5%per annum)on the unreimbursed balance of such
Costs Advanced until Developers have been reimbursed for all such Costs Advanced and interest
thereon.
Section 4. That any property held in common ownership with and contiguous to property
subject to the provisions of this ordinance on the effective date of this ordinance shall be subject to
payment based on the entire amount established for the entire parcel as provided in this ordinance.
Section 5. That upon completion of the Project,the determination of the final amount of
Project Costs, and the repayment to Developers of their Costs Advanced plus interest as provided
herein, the City shall adopt a Follow-On Recapture Ordinance requiring the payment of the fair
proportionate share of the Costs Advanced by Subject Benefite4i Properties as described and defined
in Section 13 of the Public Improvements Construction Agreement between the City,Developers and
others dated December 21, 2005.
Section 6. That this ordinance shall be in full force and effect from and after its passage
in the manner provided by law.
s/Ed Schock
Ed Schock, Mayor
Presented: December 21, 2005
Passed: December 21, 2005
Omnibus Vote: Yeas: 5 Nays: 0
Recorded: December 22, 2005
Published:
Attest:
s/Dolonna Mecum
Dolonna Mecum, City Clerk
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/1 EXHIBIT 1
COST ESTIMATE
OTTER CREEK INTERCEPTOR SEWER&WATER MAIN PHASES 4&5
I
4A LIB SOFTTOBTS
ITEM UNIT QUANTITY UNIT COSTS TOTAL
CCI 4A6.4B ENGINEERING(JACOB&HENER)' L SUM 1 1348,340.06 $348,340.06
()CI 4A&413 RESIDENT ENGINEER(COWHEY GUDMENSON)' L SUM 1 $25,000.00 $25,000.00
SUB OTAL PHASES to&48 SOFT COSTS $373,340.06
f_HAS ' SA SOFT COSTS
ITEM UNIT QUANTITY 1 UNIT COSTS TOTAL
OCI5A ENGINEERING ROOINSON gA�SE.C(j`,�O(�NTRACT) L SUIS 1 $184,000.00 $184,000.00
OCISA ENGINEERING(ROSINSON EX RAS)• L SUM 1 $150,000.00 $150,000.00
OCISA ENGINEERING CEMCON)' L SULK 1 $208,820.14 $206,820.14
EASEMENT AQUSITION(YENERICH) L SUM 1 202,000.00 $202,600.00
FACILITY PLANNING AREA EXPANSION(ROBINSON)" L SUM 1 $15,000.00 $16,000.00
FACILITY PLANNING AREA EXPANSION(TRUSTEEA.EGAL COST)' L SUM 1 $30,000.00 $30,000.00
TOPO/BOUNDARYIWETLANDITREE SURVEY&EASEMENT PLAT(YENERICH) L SUM I $23,454.00 $23,454.00
WETLAND DELINEATION AND PERMITTING(JENERICH)" L SUM 1 - $30,000.00 $30,000.00
WETLAND COUNTY MITIGATION FEE IN LIVE OF(JENERICH)' L SUM 1 $23,400.00 $23,400.00
ARCHAEOLOGICAL SURVEY(YENERICH) L SUM 1 $1,847.50 $1,847.50
SOIL BORING(YENERICH) L SUM i 1 $25,773.00 5773.00
SUBTOTAL PHASES 5A SOFT COSTS $ 44,294.64
PHASES 58 SOFT COSTS
ITEM UN _ QUANTITY UNIT C08T5 TOTAL )
OCI5B ENGINEERING• L SU 1 $228,107.80 5228,107.80
TOPO/BOUNDARY/WETLAND/TREE SURVEY&EASEMENT PLATISHODEEN)' L SU I $25,000.00 $25,000.00
WETLAND DELINEATION AND PERMITTING(SHODEEN)' L SU 1 $50,000.00 550,000.00
WETLAND COUNTY MITIGATION FEE IN LIVE OF(SHODEEN)" ' L SU 1 $30,000.00 $30,000 00
ARCHAEOLOGICAL SURVEY ISHOOEEN)' L SUM 1 $5,000.00 $5,000.00
SOIL BORING(SHODEEN) L SUM I $8,618 00 $8,618.00
SUBTOTAL PHAS S 5$SOFT COSTS $348,725.60
PRASE SA WATERMAN TO PINGREE CREEK•QIPAQLQ
IMPROVEMENTS UNIT QUANTITY UNIT COSTS I TOTAL
24"DIWM,CLASS 52 F T 5.439 $92.00 $500,388.00
20'DIWM,CLASS 52 F T 20 $93.00 $1,880.00
16"DIWM,CLASS 52 FO T 2750 $62.00 $170,500.00
8"DIWM.CLASS 62 F T 30 $60.00 $1,500.00
24"BUTTERFLY VALVE IN 84"VALVE VAULT,TYPE I FRAME,CLOSED LID EA H 5 $9,700.00 $48,500.00
20'BUTTERFLY VALVE IN 84'VALVE VAULT,TYPE 1 FRAME,CLOSED LIDEA H I $9,500.00 $9,500.00
16"BUTTERFLY VALVE IN 72'VALVE VAULT,TYPE 1 FRAME,CLOSED LID EACH 10 $6,500.00 $65,000.00
COMBO AIR RELEASE-VAC VALVE IN 60"VALVE VAULT,TYPE I FRAME,CLOSED LID EACH 1 $3,000.00 $3,000.00
FIRE HYDRANT WITH AUXILIARY VALVE EACH 2 $3,000.00 $6,000.00
24"DI END CAPS W/MEGAWG EACH 2 $840.00 $1,680.00
20"DI END CAPS W/MEGALUG EACH 1 4600.00 $600.00
16'DI END CAPS W/MEGALUG EACH 4 $520.00 $2,080.00
TEES,24")(24" EACH 2 $6,100.00 512,200.00
TEES,24"X16" EACH 3 $4,800.00 $14,400.00
TEES.24"X6' EACH 1 $4,600.00 $4,600.00
TEES,16'X16" EACH 1 $2,670.00 $2,670.00
REQUCER,24"X20' EACH _ 1 $2,500.00 $2,500 00
ADDITIONAL FITTINGS POUND 6650 $4.00 $26500 00
CONNECTION TO EXISTING 24'WATER MAIN L SUM I $4,000.00 $4,000.00
CONNECTION JO EXISTING 18"WATER MAIN L SUM 1 $1,750.00 $1,750.00
AUGER CROSSING,24"DIWM,WITH 36'S.S.CASING FOOT 253 $1,125.00 $284,625.00
AUGER CROSSING,16"DIWM,WITH 30"S,S.CASING ' FOOT 126 , $700.00 $87.500.00
CASING _ FOOT ' 105 $700.00 $73,500.00
WATER MAIN TRENCH BACKFILL CU YD 60 $35.00 $1,750.00
SUBTOTAL PHASE 6A WATERMAIN TO PINGREE CREEK $1,327,003.00
PHASE SA WATER MAIN THROUGH HIGHLAND WOODS FOR HPI-EAST&$NODE€N-ESTIMATED*
IMPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
16"WATERMAIN THROUGH CROWN PROPERTY(TO SHODEEN) FOOT 474 $46.00 $21,804.00
12'WATERMAIN THROUGH CROWN PROPERTY(TO HPI-EAST)' FOOT 4981 $34.20 $170,350.20
12"WATERMAIN THROUGH CROWN PROPERTY(TO SHODEEN) FOOT 4000 $34.20 $136,800.00
16"VALVE IN VAULT(TO SHDDEEN) EACH 1 $6,780.00 $8,780.00
12'VALVE IN VAULT(TO HPI-EAST)" EACH 13 $2,860.00 .. $37,180.00
12"VALVE IN VAULT(TO SHODEEN) EACH 9 $2,860.00 $25,740.00
HYDRANT WITH AUX VALVE(TO HPI-EAST)" EACH 16 $2,208.00 $35,328.00
HYDRANT WITH AUX VALVE(TO SHODEEN) EACH 10 $2,208.00 $22,080.00
CONNECTION TO EXISTING 12"WATERMAIN EACH 1 $800.00 $800.00
TRENCH BACKFILL(TO HPI-EASTrCU YD 1000 $17.50 $17,500.00
TRENCH BACKFILL(TO SHODEEN) CU YD 500 $17.50 $8,750.00
COMPACTION OF WATER MAIN(TO HPI-EAST)" FOOT 4981 $2.00 $9,962.00
COMPACTION OF WATER MAIN(TO SHODEEN) FOOT 4474 $2.00 58,948.00
SUBTOTAL PHASE SA WATER MAIN THROUGH HIGHLAND WOODS FOR HPI-EAST&SHODEEN $502,022.20
PHASE 58 WATER MAIN•ESTIMATED'
IMPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
16"DIWM,CLASS 52' FOOT 8086 $45.80 $278,738,80
12'DIWM,CLASS 52' !FOOT 2986 $34.20 $102,121.20
16"BUTTERFLY VALVE IN 72"VALVE VAULT,TYPE 1 FRAME,CLOSED LID' EACH 0 $8,780.00 $40,680.00 ,
12"BUTTERFLY VALVE IN 72"VALVE VAULT,TYPE 1 FRAME,CLOSED LID' EACH 6 $2,860.00 $14,300 00
TEES,16-XI 8- EACH 37 $2,670.00 $98,790.00
FIRE HYDRANT WITH AUXILIARY VALVE" SACH 17 $2,208.00 $37636.00
CONNECTION TO EXISTI!NG 16"WATER MAIN" IL SUM 1 $1,750.00 $1,760.00
AUGER CROSSING,16"DIWM,WITH 30"S S.CASING' FOOT 174 $700.00 $121,800 00
WATER MAIN TRENCH BACKFILL" CU YD 1000 $17.50 $17,500.00
PERIMETER EROSION BARRIER" FO
_ OT 2000 53.00 $6,000.00
I SUBTOTAL PHASE 5B WATER MAIN $719,216.00
EXHIBIT 2
fHASES 4A4 48 SANITARY SEWER INT RCE QR•ANDERSON UNDERGROUND,INC,
l
IMPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
J MANHOLES,TYPE A,8'-DIAMETER,TYPE I FRAME,CLOSED LID EACH 5 12,000.00 $80,000.00
• MANHOLES,TYPE A,T-DIAMETER TYPE I FRAME,CLOSED UD EACH 11 $10,000.00 $110,000.00
MANHOLES,DROP 4'-DIAMETER TYPE 1 FRAME,CLOSED UD EACH 4 000.00 $28,000.00
SANITARY SEWER,PCCP,48' FOOT 8720 $410.00 $2 755,200.00
SA��N�ITARY SEWER,PVC 10'SDR 28 FOOT 187 $200.00 3,400.00
SANITARY SEWER,PVC 8"SDR26 FOOT 90 $170.00 15,300.00
72°STEEL CASING JACKED IN PLACE FOOT 70 $1 600.00 105,000.00
PERIMETER EROSION BARRIER FOOT 128101.50 18,216.00
TRENCH BACKFILL,CA-6 TN 10458 $414.00 3146,412.00
BENCH AREA TO 2E DIGGING DEPTH AND REPLACE FROM MH#5 TO MI-#8 LS 1 $106,438.60 $105,436.80 •
BACKFILL AND COMPACT AREA FROM MH#5 TO MHN8 LS 1 $106,437.00 $105,437.00
SUBTOTAL PHASES IA i 48 SANITARY SEWER INTERCEPTOR. $3,483,400.60
E.H.M€4A SANITARY SEWER INTERCEPTOR TO P1NGR€E CREEK-DIPAOLO
MAPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
MANHOLES,4k4'BASE T TYPE 1 FRAME,CLOSED LID EACH 10 520,400.00 $
{2204,000.00
MAMANHOLES ry OLE RSPEEC AL,,4''MS(E SEWER TYPE I FRAME,CLOSED UD VEAACW 1 14
$24,90.00 310,,00.0
SANITARY SVER PVC 12'SDR 26(STUB FOOT 140 76.00 310,500.00
SANITARY SEWER,PVC 14'SDR 18(STUB, FOOT 20 .0o $1,800.00
SANITARY SEWER,38"(STUB) FOOT 20 00 00 36,000,00
SANITARY SEWER 42' STU, FOOT 20 292.00 $5,840.00
SANITARY SEWER P,48 FOOT 12006 $292.00 $3 505,480.00
SANITARY SEWER,RCP 48' FOOT - 156 $1,200.00 186,000.00
AUGER(DIRECT BOR CCROSSING,48' FOOT 484 $1,040 00 503,380.00
SA13TTARY TRENCH WATER CONTROL FOOT 12180 85.00 $790,400.00
TRENCH BACKFILL,CA-6 CU YD 1460 26.00 $38,500.00
TOPSOIL FURNISH AND PLACE. 6' SQ YO 1000 1.00 $1,000.00
HYDRAULIC SEEDING SQ YD 1000 $0.50 .$500.00
TOPSOIL EXCAVATION AND PLACEMENT SQ YE) 103000 $1.00 $103,000.00
TEMPORARY DITCH CHECKS EACH 8 280.00 $1,880.00
PERIMETER EROSION BARRIER FOOT 15000 $3.00 545,000.00
TREE REMOVAL IN-DIA 250 $2500 $8,260.00
DRIVEWAY REMOVE AND REPLACE SQ YD 50 $80.00000.00
SIDEWALK REMOVE AND REPLACE SO YO 50 $55.00 J 52,750.00
MOBILIZATION L SUM 1 $180,000.00 $180,000.00
CONSTRUCTIONADMINSTRATION L SUM 1 $74,750.00 374,750.00
SUBTOTAL PHASE 6A SANITARY SEWER INTERCEPTOR TO PINGREE CREEK 86,016,360.00
PHASE 6A SEWER THROUGH HIGHLAND WOODS FOR HPI-EAST&SHODEEN•ESTIMATED'
6MPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
ADDITIONAL ID'FORCEMAIN�� (H(PI-EA�SST))'7� ) FOOT 4465 $50.00 3223,250.00
8.20
�J FOOT 4465 .00
SAN TARYS� R VC PVC 2 MAIN
'12'(THPI-$ASST)° FOOT 3409 FOOT 951 1000.0D 08900.00
MANHOLES SPECIAL,48°SEWER,TYPE 1 FRA E,CLOSED LID(TO HPIJEAS7)' EACH 21 $2,200.00 }548,x.00
TRENCH BACKFILL(TO HPI-EAST)' CU YD 1000 $
SANITARY TRENCH WA ER CONTROL(TO HPIEAST)• FOOT 4360 $20.00 $87,200.00
CONNECTION TO EXISTING 48'INTERCEPTOR SEWER(TO HPI-EAST)' EACH 1 $4,290.00 $4,290.00
TELEVISING AND COMPACTION OF SANITARY SEWER(TO HPI-EAST)' FOOL' 4360 $3.60 $15,696.00
INFA SHEILDNAC7UUWUM TEST�IING OF MAN QLES(TO HPI-EASTY EACH 21 $435.00 $9,135.00
BENCH AREA SWM/OPENN SPACE/BUILDINGN�� PAD RESTOR.#17 TO �2(TTATION1TO SHODO EEN)" L SUM 112000 $5.35$150,000.00 $150,000.00
SUBTOTAL PHASE 6A SEWER THROUGH HIGHLAND WOODS FOR HPI-EAST&SHODEEN 81,566,179.20
PRASE 5B SAWN?),SEWER-ESTIMATEp•
IMPROVEMENTS UNIT QUANTITY UNIT COSTS TOTAL
MANHOLES,DROP 4'-DIAMETER,TYPE 1 FRAME.CLOSED LID' EACH 11 $3,400.00 $37,400.00
SANITARY SEWER,PVC 21"SDR 26` FOOT 3371 $160 00 $539,380.00
SANITARY SEWER,PVC 18"SOR26' FOOT 676 $130.00 $87,880.00
SANITARY SEWER,PVC 16"SOR26' FOOT 3241 $100.00 $324,100.00
AUGER CROSSING,18"PVC,WITH 30'S.S.CASING' FOOT 117 $700.00 $81,900.00
SANITARY TRENCH WATER CONTROL* FOOT 7288 $65.00 $473,720.00
TRENCH BACKFILL,CA-6' Cu YD j 1000 $17.50 $17,500.00
SUBTOTAL PHASE 58 SANITARY SEWER $1,561,840.00
SUBTOTAL OCI 4&6 ESTIMATED SOFT COSTS $1,614,360.30
SUBTOTAL OCI 4&6 ESTIMATED SANITARY SEWER COSTS $12,646,829.80
SUBTOTAL OCI 4 8 5 ESTMAATED WATER MAIN COSTS $2,646,24120
SUBTOTAL CCI 4&5 ESTIMATED SOFT,SANITARY SEWER&WATER COSTS $16,606,431.30
6%CONTINGENCY $1,006,585.88
7%CONSTRUCTION MANAGEMENT FEE $1,176,660.19
TOTAL OCI 4&5 ESTIMATED COSTS $18,994,857.37
•ESTIMATED
NOTE COST OF CARRY FOR DEVELOPMENT NOTES IS J40T INCLUDED IN THE ESTIMATED COST.
I CITY of ELGIN, ILLINOIS
EXHIBIT
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a EXHIBIT 3