R-1123 - 09/13/2011 - ECONOMY DEVELOPMENT - ResolutionsRESOLUTION 2011 - ECODV -R -1123
A RESOLUTION REGARDING HUB GROUP, INC. CORPORATE RELOCATION
WHEREAS, Hub Group, Inc. together with its subsidiaries (collectively, "Hub ") is in the process
of reorganizing its real estate assets and considering multiple locations, including Oak Brook locations, for
its corporate headquarters; and
WHEREAS, Hub currently has more than 350 full time employees in Illinois and approximately
315 full time employees at its existing Downers Grove headquarters.
WHEREAS, Hub intends to consolidate certain of those full time employees currently working at
sites other than its headquarters at its new headquarters facility.
WHEREAS, Hub expects to create at least 25 new full time jobs in Illinois and intends to locate
those new employees at its new headquarters by November 2013, and
WHEREAS, Hub further anticipates project costs, exclusive of lease costs, of approximately $15
million; and
WHEREAS, Hub has expressed particular interest in property on York Road along Interstate 88
that is subject to a development agreement ( "Development Agreement') entered into on April 4, 2011,
between the Village and York Road Development Partners, LLC and Irgens Development Partners, LLC
( "Developer'); and
WHEREAS, in light of the economic benefits that would be derived by the Village should Hub
choose to locate its new corporate headquarters in Oak Brook, the Village Manager has crafted a
reasonable and responsible package of economic incentives for consideration, and
WHEREAS, the proposed incentives are (i) a 50 percent reduction in otherwise applicable build
out fees that Hub would otherwise be required to pay to the Village as part of its build out of the new
building once it is constructed by the Developer, and (ii) a Village contribution of $150,000 to the
Development Agreement's required Developer roadway improvements which amount the Developer will
pass through to Hub as part of a reduction in the square foot lease for the Hub headquarters ( "Proposed
Incentives "); and
WHEREAS, the Village President and Board of Trustees have determined that it is appropriate
and in the best interests of the Village and its residents to commit to the Proposed Incentives to be
offered to Hub in order to provide further economic justification for Hub to locate its corporate
headquarters in Oak Brook;
NOW THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows:
Section 1: Recitals. The recitals are hereby adopted as part of this Resolution.
Section 2: Approval of Proposed Incentives. The Proposed Incentives are hereby approved
and the Village Manager is authorized to communicate this approval in writing to Hub Group, Inc.;
provided, however, that the approval of the Proposed Incentives is subject to incorporation into a final
development agreement to be approved by Hub and the Village.
Section 3: Effective Date. This Resolution shall be in full force and effect from and after its
passage and approval as provided by law.
APPROVED THIS 13" day of September, 2011
Resolution 2011 -ECODV-R-1 123
Hub Group Corporate Relocation
Page 2 of 2
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Gopal G. Lalmalani
Village President
PASSED THIS 13" day of September, 2011
Ayes: Trustees Manzo, Moy, Wolin, Yusuf and Zannis
Trustee Aktipis
Charlotte K. Pruss
Village Clerk