OB - 2012-0011 - Approving the Low and Moderate Income Fund Due Diligence ReviewRESOLUTION: 2012 -0011
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION APPROVING
THE LOW AND MODERATE INCOME FUND DUE DILIGENCE REVIEW
WHEREAS, Assembly Bill 1484 amended Health and Safety Code Section 34179.5
requiring each Successor Agency to employ a licensed accounting firm to conduct a due
diligence review of the Low and Moderate Income Housing Fund; and
WHEREAS, the Oversight Board for the Successor Agency to the Rosemead
Community Development Commission selected Vavrinek, Trine, Day, and Co.,LLP to conduct
the Due Diligence Review; and
WHEREAS, the completed Due Diligence Review was transmitted to the California
Department of Finance, the State Controller's Office, and the County Auditor - Controller on
October 1, 2012; and
WHEREAS, on October 8, 2012 the Oversight Board for the Successor Agency to the
Rosemead Community Development Commission opened the Public Comment period to review
and accept comments on the Due Diligence Review; and
WHEREAS, on October 17, 2012 the Oversight Board for the Successor Agency to the
Rosemead Community Development Commission conducted a second meeting at least five (5)
business days after the Public Comment period began to formally approve the Due Diligence
Review.
NOW THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The Due Diligence Review as prepared by Vavrinek, Trine, Day & Co., LLP is
approved and shall be transmitted to the California Department of Finance, the State
Controller's Office and the County Auditor - Controller.
PASSED, APPROVED AND ADOPTED this 17th day of October 2012.
Chairperson
ATTEST:
Matth w E. Nawkesworth
Successor Agency Staff
Assistant City Manager
I HEREBY CERTIFY that the above and foregoing resolution was duly passed and adopted by
the Oversight Board for the Successor Agency to the Rosemead Community Development
Commission at its special meeting held on the 17 day of October 2012, by the following vote,
to wit:
AYES:
NOES:
ABSENT:
ABSTAINED:
f
Matth w E. H wkesworth
Successor Agency Staff
Assistant City Manager