LAKEMOOR – The village will continue to press the courts in the hope of finishing roads and the storm sewer system in the Rockwell Place subdivision, Village Administrator David Alarcon said.
The subdivision off Route 120 east of Lakemoor has sat unfinished since the developer, Kirk Homes, went bankrupt in 2009. About 150 lots sit vacant and some of the subdivision’s 132 town houses and 90-plus single-family homes are vacant and in foreclosure.
Village officials this week met with about 25 residents to update them on a lawsuit filed in November 2011 against two insurance companies that Alarcon said have refused to make payment on performance bonds issued to ensure the completion of public improvements in the subdivision.
There was a hearing Wednesday in the suit against Bond Safeguard Insurance Co. and American Southern Insurance Co., but because the case is ongoing, the village cannot comment in detail, Alarcon said. He stressed that the village is pursuing all options to finish the public improvements.
Rockwell Place residents also used the meeting as an opportunity to discuss a neighborhood association.