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Dear Friends and Neighbors,
2019 was a very busy year for the Village. I am amazed by the resilience of our community. When McDonald’s closed their campus I was concerned that the site would stay vacant for a long while. But, the professional community sees the value and desirability of doing business in Oak Brook and the property was very quickly purchased by John Paul DeJoria, I look forward to seeing the innovation he will bring to that beautiful location. New commercial locations are opening at a record pace, proving that Oak Brook has some of the most robust economic development opportunities in the area. Our community is thriving in an environment where others are struggling.
As you may be aware, House Bill 1438, the Cannabis Regulation and Tax Act, passed the Illinois General Assembly on June 4, 2019 and the legislation was signed into law by Governor Pritzker on June 25, 2019. Beginning January 1, 2020, recreational cannabis will be legal to possess for anyone over the age of 21 in Illinois. Fortunately, the new legislation authorizes municipalities throughout the State to regulate cannabis businesses based on both licensing and zoning authority. This matter was referred to our Plan Commission and Zoning Board, who unanimously recommended prohibiting any type of cannabis business or sale in Oak Brook. At the October 22nd Village Board Meeting, the Village Board unanimously passed an ordinance prohibiting the sale of cannabis in Oak Brook. The Board did not believe this is the type of business that should be a part of our unique Oak Brook brand.
Oak Brook has also established itself as an ideal place to raise a family. The Village continues to expand upon the amenities that will draw more young families to the community. This past year we made improvements to the Bath & Tennis Club doing some much needed maintenance and enhancing the beauty of the area. The Bath & Tennis Club is a delightful place to spend time with your family as well as with other families from this community. The Club has a lot to offer for children of all ages and adults alike. Consider becoming a member in 2020 and experience the beauty, comradery and fun that the Club is known for. Look for the program guide in your mail in early spring. Another family friendly benefit the Village has to offer is the Library. As the weather turns cold, the Library offers many fabulous indoor activities to combat cabin fever. They offer quality programs for all ages. Refer to the Library calendar in this newsletter for more information.
Finally, the Village held two Budget Meetings in November and the Public Hearing for the 2020 Budget at our December 10th Village Board meeting. We are committed to remain fiscally conservative and have increased our General Corporate Fund Reserve to $20.2 million or 10.4 months of operating expenses for 2020, far exceeding our financial policy of maintaining a cash balance of 6 months of operating expenditures.
Thank you for your support of our community. The Trustees, staff and I are always available to you. Please feel free to call or email us with your thoughts and concerns. Have a happy, healthy and prosperous New Year!
Gopal G. Lalmalani, MD, MBA
630-368-5012 or email@example.com