Campton Hills expands consultant engagement for LaFox/Hampton Hills project and sets reimbursement rates
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Summary
Trustees approved an expanded engagement with SB Friedman to review developer financials and adopted a resolution setting consultant reimbursement rates, including documentation requirements tied to the annexation agreement and an amended administrator hourly rate.
The Campton Hills Board approved two TIF- and development-related items March 3: an amendment to the village's agreement with SB Friedman Development Advisors LLC to expand review work on developer pro formas (Resolution 26-15), and a companion resolution establishing reimbursement rates for consulting services tied to the LaFox of Hampton Hills development (Resolution 26-16).
Administrator and staff told trustees the expanded SB Friedman engagement is intended to provide technical review of developer financials and TIF-eligible costs; work under the agreement is reimbursable by the developer through an escrow mechanism in the annexation agreement. "These fees are reimbursable by the escrow," staff said, and the village counsel confirmed the contract is the village's contract to perform required review for the annexation and redevelopment negotiations.
Trustees asked for clarity on a large figure that appears in the packet (referenced during discussion as $39.5 million). Staff clarified that the dollar figure represents project-level TIF-eligible costs and broader capital estimates rather than a single payment to the village; school-district obligations, bridge repairs and water/sewer costs were noted as components of that larger estimate.
On reimbursement rates, Trustee Therese Hafensberger proposed amendments to tie the resolution explicitly to Section 11 of the annexation agreement and to require contemporaneous documentation for reimbursable professional services (dates, description of work, time expended and relation to development review). Trustees negotiated hourly-rate language and recorded a friendly amendment setting a $125-per-hour administrator rate (and agreed rates for consultants) before approving the resolution.
Attorney Forte said the annexation agreement controls if there is a conflict with the resolution and that the board could ask the attorney to incorporate Trustee Hafensberger's suggested language; trustees agreed to have the village attorney revise the resolution text as a friendly amendment prior to finalization.
What happens next: The SB Friedman engagement will continue under the expanded scope and fees will be billed against the developer's escrow per the annexation agreement; the village will require contemporaneous billing documentation for reimbursable services and bring any final amended language back to the board as needed.
