Laurence Herman: 2023 candidate for Oak Brook Village President

Bio

Town: Oak Brook

Age on Election Day: 61

Occupation: Attorney/financial adviser

Employer: Herman Agency, Inc.

Previous offices held: Village trustee since 2021 and president pro tem

Q&A

Q: What is the most serious issue your community will face in the coming years and how should leaders respond to it?

A: Public safety is always going to be our top priority, but we can only maintain optimal public safety and other services by being laser focused on our finances.

We have low property taxes because village services (safety and administration) are funded by sales taxes. If village finances are not controlled, and current revenue sources are no longer adequate, imposing a property tax could reduce the value of all property in Oak Brook.

As village trustee, I was instrumental in improving our forecasted cash position in our five-year plan by over $44 million. One of my opponent's "experience" includes 10+ years of approving budgets full of wasteful spending and unnecessary capital projects that I led the effort to remove.

We must find ways to solve our challenges through the better use of technology. I have led the board in expanding our use of technology in all areas and will continue that as village president.

Q: How would you describe the state of your community's finances?

A: When I was elected trustee, two of our largest funds were forecast go negative within a couple of years. At those spending levels, the village would have had to impose a real estate tax increase that would have crashed real estate values.

With experience as a CPA and tax attorney, I led the effort to review every line item of the budget adding back millions to our cash reserves. I've also led effort to ensure that retail sale taxes owed the village are paid in full. There are several retailers in the village who appear to be manipulating the tax code to underpay sales taxes owed. While this has likely cost the village millions of dollars in lost revenues, I am working to correct it. Our finances are in good order now and getting even better due to my initiatives, but that could change for the worse with the wrong leadership.

My tenacious financial oversight avoids a property tax for businesses and residents alike.

Q: What should be the three top priorities for spending in your community during the next four years?

A: 1. Public safety. I spearheaded the $200,000 increase in our 2022 budget to add more LPR cameras and other crime fighting technology. Our police department is now fully staffed for the first time in perhaps 20 years, and we have more police officers than ever before. Our new police chief is asking for more technology and not more officers.

2. Communications and technology. I've led the effort to add much needed technological improvements to improve our efficiency and effectiveness, while also reducing long-term operating costs. I am also working with village staff to bring new more technologically advanced communication platforms online to improve village communications with residents.

3. Infrastructure. Prior to me being elected village trustee, there was poor oversight and vetting of infrastructure expenditures which wasted millions of dollars. I will make sure only those projects that truly benefit our community move forward.

Q: Are there areas of spending that need to be curtailed? If so, what are they?

A: 1. Capital projects must have a return to residents and be properly bid out. The lack of oversight on these in the past is appalling. One of my opponents has boasted of his "experience" in government, while allowing millions of dollars in wasteful spending and unnecessary capital projects to threaten the financial health of the Village.

2. We need to improve our investment strategy to more closely align our investment time horizon with our actual cash flow needs. In so doing, we can substantially increase our investment income and be better positioned to meet our massive pension and employee benefit funding obligations.

Q: What do you see as the most important infrastructure project you must address? Why and how should it be paid for? Conversely, during these uncertain economic times, what project(s) can be put on the back burner?

A: We are in a multiyear process of replacing our aging water mains. This is very costly and also involves the repaving of roads which are torn up to install the new mains. We need to be very judicious in managing our capital fund to ensure we have the funds to complete this project. I discovered that there had been no system in place to properly vet the long-term financial impact of capital projects. Too often, unwarranted pet projects of village staff were approved without critical review. One of my opponents who has served as a trustee for many years failed to recognize and correct the problem.

Q: What makes you the best candidate for the job?

A: Throughout my life and recently as a trustee I have demonstrated leadership, professionalism, accountability, and results. I have a long track record of working well with everyone to achieve common goals. I believe those are several of the reasons that the current president, Dr. Gopal Lalmalani, has endorsed me for this important role. I dig in and get the job done. My family has resided in the village for 53 years, with three generations presently living in Oak Brook. Oak Brook is a part of me. I am running to serve to community and maintain Oak Brook as the jewel of the western suburbs. If elected, I will be the first village president to have been raised and educated in Oak Brook.

Q: What's one good idea you have to better the community that no one is talking about yet?

A: Proactively attracting the right kinds of businesses that are consistent with the Oak Brook brand and can help expand our sales and utility tax base, which includes sales tax generating business-to-business companies (such as software) that operate out of our plentiful office buildings.