Finance Committee approves police, arena, insurance items
At a glance
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The committee approved a 2026 hire-back pay ordinance for police and fire personnel, a renewed management agreement for the NOW Arena, and a 2026 property and casualty insurance agreement.
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What this means
Residents can expect the Village to keep its police and fire backup staffing rules updated for 2026. The committee also advanced a longer-term agreement for NOW Arena management, including an initial four-year term with two possible three-year extensions. It approved insurance coverage arrangements for the Village’s property and casualty risks next year. The Finance Department monthly report was deferred, while the IT and NOW Arena monthly reports were received and filed.
Key decisions
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- Approved an ordinance establishing hire-back rates for Police and Fire personnel for January 1, 2026 through December 31, 2026.
- Approved a resolution authorizing the Second Amended and Restated Management Agreement with Global Spectrum, L.P. d/b/a Oak View Group for NOW Arena management and commercial sales services; the agreement includes an initial term from January 1, 2026 through December 31, 2029 and two optional three-year extensions.
- Approved a resolution authorizing an intergovernmental agreement with Suburban Liability Insurance Pool and Alliant/Mesirow Insurance Service for property and casualty insurance coverage for 2026.
- Deferred the Finance Department monthly report.
- Received and filed the Information Technology Department monthly report.
- Received and filed the NOW Arena monthly report.
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Meeting information
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Finance Committee
Agenda
- 1. CALL TO ORDER/ROLL CALL
- 2. APPROVAL OF MINUTES
- A. Finance Committee 11-24-2025attachments=1Decision: APPROVAL OF MINUTES
- 3. PUBLIC COMMENT
- 4. OLD BUSINESS
- 5. NEW BUSINESS
- A. Approval of an ordinance establishing hire back rates for Police and Fire personnel for the period January 1, 2026 through December 31, 2026.attachments=1 | reports=1Decision: NEW BUSINESS
- B. Approval of a Resolution Authorizing the Second Amended and Restated Management Agreement between the Village of Hoffman Estates and Global Spectrum, L.P. d/b/a Oak View Group for management and commercial sales services of the NOW Arena.attachments=2 | reports=1Decision: NEW BUSINESS
- C. Approval of a Resolution authorizing an intergovernmental agreement with Suburban Liability Insurance Pool and Alliant/Mesior Insurance Service for property and causality insurance coverage for 2026.attachments=2 | reports=1Decision: NEW BUSINESS
- 6. REPORTS
- A. Finance Department Monthly Report - DeferredDecision: REPORTS
- B. Information Technology Department Monthly Reportattachments=1Decision: REPORTS
- C. NOW Arena Monthly Reportattachments=2Decision: REPORTS
- 7. PRESIDENT'S REPORT
- 8. ITEMS IN REVIEW
- 9. OTHER
- 10. ADJOURNMENT
Documents from this meeting
- Agendahttps://hoffmanestatesil.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=1374,plainText=false)
- Packethttps://hoffmanestatesil.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=1375,plainText=false)
- Minuteshttps://hoffmanestatesil.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=2542,plainText=false)
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