OB - Item 2A - Minutes 12-10-12Minutes of the
Oversight Board for the Successor Agency to the
Rosemead Community Development Commission Meeting
December 10, 2012
The regular meeting of the Oversight Board for the Successor Agency to the Rosemead Community
Development Commission was called to order by Chair Wallach at 5:07 p.m. in the Rosemead City Council
Chamber located at 8838 East Valley Boulevard, Rosemead, California.
PLEDGE OF ALLEGIANCE: Board Member Alvarez
PRESENT: Board Members Allred, Alvarez, Jones, Redondo - Churchward, Wallach
ABSENT: Board Members Lash, Miller
STAFF PRESENT: Assistant City Manager Hawkesworth and City Clerk Molleda
1. PUBLIC COMMENTS FROM THE AUDIENCE — None
2. CONSENT CALENDAR
A. Minutes
November 26, 2012 — Regular Meeting
Board Member Irene Redondo - Churchward made a motion, seconded by Board Member Jeff Allred, to
approve the Consent Calendar with corrections to the minutes. Vote resulted in:
Yes: Allred, Alvarez, Jones, Redondo - Churchward, Wallach
No: None
Abstain: None
Absent: Lash, Miller
3. MATTERS FROM STAFF OF THE ROSEMEAD SUCCESSOR AGENCY
A. Agreed Upon Procedures Report for Non - Housing Funds
On November 26, 2012 the Oversight Board received the draft report of the Agreed Upon
Procedures review of all former redevelopment funds except housing and opened the public
comment period. Since this meeting, one correction was made to the draft report and no
public comments were received regarding the report. According to the Health and Safety
Code regulations approved under AB 1484, the Oversight Board may now approve the report
by resolution and transmit the report to the various required agencies.
Rosemead Oversight Board Meeting
Minutes of December 10, 2012
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ITEM No. 2-
The one correction made to the report is in regards to the AB 1484 Demand Payment made
on July 12, 2012 as directed by the Department of Finance. While the Agreed Upon
Procedures review focused on the period through June 30, 2012, the payment made in July
must be reported to accurately reflect the assets and liabilities of the Successor Agency. As
such, Exhibit B -5 on page 15 of the report was amended to reflect the payment in the
amount of $1,222,008.46 and Exhibit B -4 was adjusted for the same amount so that the
bottom line on Exhibit B -5 was not less than zero. After these adjustments have been made,
the Successor Agency will not owe any additional funds back to the County.
Recommendation: That the Oversight Board accept the Agreed Upon Procedures Review
as prepared by Vavrinek, Trine, Day and Co, LLP and approve Resolution 2012 -0012,
entitled:
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
Assistant City Manager Matt Hawkesworth reviewed the staff report.
Board Member Irene Redondo - Churchward made a motion, seconded by Board Member Marty Jones,
to close the Public Hearing at 5:15 p.m. Vote resulted in:
Yes: Allred, Alvarez, Jones, Redondo - Churchward, Wallach
No: None
Abstain: None
Absent: Lash, Miller
Vice - Chairperson Raul Alvarez made a motion, seconded by Board Member Jeff Allred, to accept the
Agreed Upon Procedures Review as prepared by Vavrinek, Trine, Day and Co, LLP and approve
Resolution No. 2012.0012. Vote resulted in:
Yes: Allred, Alvarez, Jones, Redondo - Churchward, Wallach
No: None
Abstain: None
Absent: Lash, Miller
4. ADJOURNMENT
The meeting adjourned at 5:17 p.m. The next Oversight Board meeting is scheduled to take place on January
14, 2013 at 5:00 p.m.
Rosemead Oversight Board Regular Meeting
Minutes of December 10, 2012
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Pat Wallach
Chair
ATTEST:
Matt Hawkesworth
Successor Agency Staff
Assistant City Manager
Rosemead Oversight Board Regular Meeting
Minutes of December 10, 2012
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