Title
Joint resolution authorizing the execution of an Intergovernmental Agreement between the Village of Grayslake and the County of Lake regarding the Cornerstone Development (Alter Property).
Staff Summary
· Lake County Land Holdings, LLC, is proposing to develop the Alter Property, which is approximately 641 acres near Peterson Road, Route 83 and Alleghany Roads.
· The property will be developed in the Village of Grayslake as a Planned Unit Development, consisting of residential, retail/commercial, light industrial, and office uses.
· The Village is requesting sanitary sewer service for the development, with certain limitations, which will require the “Third Amendment to the Restated and Amended Agreement for Sewage Disposal,” which will be considered under a separate resolution.
· The proposed development will necessitate certain roadway and traffic improvements, that will be documented in the “Central Lake County Area Transportation Improvement Intergovernmental Agreement,” and will be considered under a separate resolution.
· The development of the Beelow Parcel will satisfy the standards for development of the Central Range Area of the Heartland Property as set forth in the Heartland Settlement Agreement.
· The County shall perform building code compliance, permitting and inspections for any development upon the Beelow Property, which will be documented in the Intergovernmental Agreement for Building and Zoning Code Enforcement Contract Services.
· The developer is required to execute School Impact agreements prior to execution of this Agreement.
· The developer is also required to develop the property in phases so that the residential development is balanced with the non-residential development.
Body
WHEREAS, the County of Lake (County) and the Village of Grayslake (Village) have previously entered into an Amended and Restated Agreement for Sewage Disposal, which has been amended from time-to-time; and
WHEREAS, the Cornerstone Property, which is owned...
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