St. Charles goes after Remington Glen money

It's no fun moving into a new home only to learn the street and storm sewer aren't complete, and the big pile of dirt that was supposed to be your neighbor's home isn't going away anytime soon.

St. Charles officials hope to correct those problems for residents of the Remington Glen subdivision.

City officials have attempted to get the developer, Remington Glen, LLC, to complete unfinished work on the subdivision near Route 64 and Peck Road. Only two homes have sold in the subdivision within the past six months. The project is now in foreclosure and bank officials at MB Financial say, given the time of year, there's nothing they can do immediately to complete the construction, according to a report this week by St. Charles city officials.

As a result, the city is moving toward collection on a $129,000 letter of credit for the project that was established before the developers fell into financial peril and failed to fulfill construction promises. While the foreclosure is sorted out, the city wants to take the letter of credit and put it toward an estimated $160,000 worth of construction still needed on the subdivision, which includes more than 100 units.

The city would complete about $115,000 of that work. Mainly, completion of public streets, storm sewer improvements and the replacement of sidewalk will be done.

The rest would be completed if and when a new developer takes control of the project and clears the old debt from the previous developers.

City staff said they plan to pursue similar actions for other incomplete construction projects.