Boards & Commissions Supporting Documents - 01/27/2008 - Board of Trustees45� - Z:�_ -;w
SUBJECT: Friary Property
FROM: John W. Craig
W2
IT174 i 9.130
AGENDA ITEM
Regular Board of Trustees Meeting
of
January 27, 2008
BUDGET SOURCE/BUDGET IMPACT: N/A
RECOMMENDED MOTION: N/A
Background/History:
The attached is information on the proposed Friary purchase that will be announced on Tuesday
night.
Recommendation:
N/A
t s` ved by DEFAULT J \Agenda Items\AG -Prop Fnary Purchase 1 -27 -09 doc
AV
VILLAGE OF OAK BROOK
Proposed Friary Purchase
The Village has decided not to,move forward with any further discussions on the purchase of the Friary
property. We appreciate the input we received at the last meeting from the public on this matter.
During a time of economic uncertainty, it would be very difficult for the Village to afford to purchase a
large piece of property such as this. We have had to eliminate several positions in the 2009 village
budget and none of us can fully predict what will happen to Village revenues in 2009 with today's
economy.
Memo -BOT - Fnary Property 1 -27 -09 doc