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OB - Minutes - 05-16-12Minutes of the Oversight Board for the Successor Agency to the Rosemead Community Development Commission Meeting May 16, 2012 The regular meeting of the Oversight Board for the Successor Agency to the Rosemead Community Development Commission was called to order by City Clerk Molleda at 5:03 p.m. in the Rosemead City Council Chamber located at 8838 East Valley Boulevard, Rosemead, California. PLEDGE OF ALLEGIANCE: Chair Pat Wallach PRESENT: Board Members Allred, Alvarez, Jones, Lash, Redondo- Churchward, Wallach STAFF PRESENT: City Attorney Richman, Assistant City Manager Hawkesworth, and City Clerk Molleda 1. PUBLIC COMMENTS FROM THE AUDIENCE — None 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 Rosemead Oversight Board Meeting Minutes of May 16, 2012 Page 1 of 2 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 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. Assistant City Manager Matt Hawkesworth reviewed the staff report. The revised staff report including Resolution No. 2012 -0005 and the updated ROPS submittal can be reviewed at the City Clerk's office or on the City's website. The Board took a short recess at 5:27 p.m. to review additional information during the meeting and reconvene at 5:30 p.m. Board Member Nicole Lash made a motion, seconded by Board Member Jeff Allred, to approve Resolution No. 20120005, approving the Revised ROPS for the period of July through December 2012. Vote resulted in: Yes: Allred, Jones, Lash, Redondo - Churchward, Wallach No: Alvarez Abstain: None Absent: None 3. ADJOURNMENT The meeting adjourned at 5:58 p.m. The nerd regular Oversight Board meeting is scheduled to take place on June 20, 2012 at 5:00 p.m. ( d l �d 4 f Pat Wallach Chair ATTEST: r Matt H wkesworth Successor Agency Staff Assistant City Manager Rosemead City Council Regular Meeting Minutes of May 16, 2012 Page 2 of 2 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS. CITY OF ROSEMEAD 1 I, Matthew E. Hawkesworth, do hereby certify that the meeting minutes from May 16, 2012, were duly and regularly approved and adopted by the Oversight Board for the Successor Agency to the Rosemead Community Development Commission on the 18th of July 2012, by the following vote to wit: Yes: Allred, Jones, Lash, Redondo - Chuchward, Wallach No: None Abstain: None Absent: Alvarez, Miller mil' r 2 - Matthew K. Hawkesw&th Successor Agency Staff Assistant City Manager