The Village Board has decided to call a letter of credit worth more than $250 million on a subdivision that has been on the drawing board since 1989.
Canterbury Trails, a 10-acre development at Leask Lane and Warrenville Road on the north side of+Lisle,+was conceived as an intimate neighborhood of 19 luxury homes.
With lots priced at $170,000 and up, developers Harry Hartsock and Randall Pros were planning to build houses in the $350,000 to $400,000 range. But Thomas Ewers, community development director, said village records indicate that only one lot was sold.
Although water and sewer lines were laid, various other improvements, including street paving, sidewalk construction, and the installation of streetlights, have not been completed.
Last week, the Village Board approved a motion to call the developers`
$290,400 letter of credit and hire contractors to finish major improvements by late fall.
Because this year`s construction season is more than half over, the board decided to waive the bidding process. Instead, it approved construction contracts totaling $249,000 to complete all remaining improvements except some minor landscaping projects. Work is scheduled to begin within the next 30 days.
