OB - Agenda - 05-16-12Public Comment from the Audience
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Brown Act
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action may be taken on a matter unless it is
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and /or schedule certain matters for
consideration at a future Board meeting.
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Pursuant to Gov. Code Sect. 54954.3(c),
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This agenda was posted 72 hours in
advance of the meeting at the City Hall,
8838 E. Valley Boulevard, Rosemead; the
L.A. County Library, Rosemead Branch,
8800 E. Valley Boulevard, Rosemead; and
other locations pursuant to RMC Sec.
1.08.020. Any writings or documents
provided to a majority of the Rosemead
Oversight Board regarding any item on this
agenda will be made available for public
inspection in the City Clerk's office during
normal business hours.
Rosemead
Oversight
Board
forthe
Successor Agency to the
Rosemead Community
Development Commission
MEETING AGENDA
May 16, 2012
5:00 PM
City Hall Council Chamber
8838 E. Valley Boulevard
Rosemead, CA 91770
www.cityofrosemead.org
Raul Alvarez, Vice Chair
Jeff Allred, Board Member
Marty Jones, Board Member
Nicole Lash, Board Member
Irene Redondo - Churchward, Board Member
Pat Wallach, Chair
ROSEMEAD OVERSIGHT BOARD MEETING AGENDA
May 16, 2012
Oversight Board
Meeting Agenda
• CALL TO ORDER — 5:00 PM
• PLEDGE OF ALLEGIANCE — Chair Wallach
ROLL CALL:
o Board Members — Allred, Alvarez, Jones, Lash, Redondo - Churchward, Wallach
1. PUBLIC COMMENTS FROM THE AUDIENCE
The Oversight Board will receive public comments on matters not listed on the agenda.
2. MATTERS FROM STAFF OF THE ROSEMEAD SUCCESSOR AGENCY
A. Update Regarding the ROPS Submittal
As the Board will recall, action was taken on April 25, 2012 to approve the Recognized
Obligation Payment Schedule (ROPS) for the periods of January — June 2012 and July —
December 2012. On April 26, 2012 these documents were submitted to the various County
and State agencies as required by the Health and Safety Code. Per the Code, if the
Department of Finance takes no action, the ROPS is considered to be approved after the
third working day following the submittal; however, if the Department has questions, that
deadline is automatically extended by an additional ten working days. As expected, the
Department asked for an extension to request additional information, and we are currently in
the additional ten day review period. As of May 8, 2012, the Department has requested
copies of the Chamber of Commerce agreement, the 2006A, 2006B and 2010A Bond
documents, and various Capital Improvement Projects. These documents were provided to
the Department and no additional correspondence has been received. The ten day
extension will expire on May 15, 2012. Due to the timing issues of preparing the agenda in
advance, staff will present any additional information provided by the Department or
requested by the Department to the Oversight Board at the meeting.
In addition to the review by the Department of Finance, the Agreed Upon Procedures review
has also taken place by the County's auditors over the past two weeks. Staff has met with
the auditors and reviewed a preliminary draft; however, a final version has not been
presented to the Successor Agency. The County has imposed a requirement that they must
review and be present for the final exit meeting with the Successor Agency prior to the report
being issued. Due to the large workload of the County's staff, this meeting has not been
scheduled as of May 8th. Staff can share with the Board that based upon the draft document,
the only item being recommended to be disallowed by the review is the contract with the
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ROSEMEAD OVERSIGHT BOARD MEETING AGENDA
May 16, 2012
Chamber of Commerce as the original agreement was made with the City and not with the
former Community Development Commission. The Successor Agency staff will not try to
petition further for this contract as we have not made the monthly payments since January
and have since terminated the Chamber of Commerce agreement as allowed in the contract
language.
In the event that no additional information is provided or requested by the Department of
Finance; staff may notify the Oversight Board before the meeting that there are no items for
the agenda and the meeting may be cancelled.
Recommendation: That the Oversight Board receive and file this report and provide
additional direction as necessary based upon the review by the Department of Finance.
3. ADJOURNMENT
The next regular Rosemead Oversight Board meeting is scheduled to take place on June 20,
2012 at 5:00 p.m.
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