CARY – The Village Board might vote on a proposed three-year extension for mining activities on the Meyer Material site, at the board’s meeting at 7:30 p.m. Tuesday, Village Administrator Chris Clark said.
The proposed amendment to the mining agreement would allow mining to continue until June 1, 2019, and restoration work to continue until Dec. 31, 2019.
Clark said the proposal stipulates Meyer would pay a $500,000 penalty if the mining is not finished by June 1, and there are letters of credit and financial elements to enforce the deadline for completion of restoration work.
The extension agreement proposed by Meyer also includes $2.1 million in impact fees to the village, a $50,000 cash payment transfer to the Fox Trails subdivision homeowners association, and a $350,000 payment to the Cary Park District to build a multi-use path, Clark said.
The proposed agreement defines that grading work by Meyer would be required to leave the land in the proper state for a proposed passive-use park on the site. As part of the plan, the company would have to finalize the perimeter around the lake and put a CA6 gravel stone path around the lake, Clark said.
The existing contract requires Meyer to finish mining at site near Route 31 by June 1 of this year, with a $100,000 penalty for each month mining continues after that, and finish restoration by June 2018.
Residents of subdivisions near the mining site have spoken against the extension at several recent meetings regarding the project. The zoning board gave a proposed four-year extension a negative recommendation in February.
Village officials previously discussed a plan for a passive-use park that eventually could be on that site, which likely would cost $8 million to $8.5 million. The Village Board recently gave staff authorization to speak to Algonquin officials about annexing the south end of the site into Cary.