The City Council voted 6-1 Tuesday night to approve a development agreement with 3Com Corp. to allow the company to make some modifications to its new, 40-acre site without further approval by the city for 25 years.
The agreement is part of wide-ranging negotiations between the city and the giant computer networking company, which says it will employ thousands of workers at its new location northeast of Golf Road and Illinois Highway 53.
Under the deal approved Tuesday night, the city will allow 3Com to modify its site plans without gaining approval by the City Council over the next 25 years.
The company agreed to develop its property according to M-2, or office/light manufacturing, zoning. 3Com could transfer the agreement to any future owner of the site during the 25 years.
In other action, the council approved a grant application on behalf of 3Com for loans from the Business Development Public Infrastructure Program.
