OB - Item 2A - Minutes of the Oversight Board Meeting for May 13, 2013Minutes of the
Oversight Board for the Successor Agency to the
Rosemead Community Development Commission Meeting
May 13, 2013
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, Califomia.
PLEDGE OF ALLEGIANCE: Board Member Jones
PRESENT: Board Members Allred, Jones, Lash, Sotelo, Wallach
ABSENT: Board Members Miller, Redondo - Churchward
STAFF PRESENT: Assistant City Manager Hawkesworth and City Clerk Molleda
1. PUBLIC COMMENTS FROM THE AUDIENCE — None
2. CONSENT CALENDAR
A. Minutes
February 11, 2013 — Regular Meeting
Board Member Dalila Sotelo made a motion, seconded by Board Member Marty Jones, to approve the
Consent Calendar. Vote resulted in:
Yes: Allred, Jones, Lash, Sotelo, Wallach
No: None
Abstain: None
Absent: Miller, Redondo - Churchward
3. MATTERS FROM STAFF OF THE ROSEMEAD SUCCESSOR AGENCY
Capital Improvement Projects Funded by Existing Bond Proceeds
The Successor Agency received its Finding of Completion (FOC) on April 18, 2013. The
FOC permits the Success Agency to utilize proceeds derived from bonds issued prior to
January 1, 2011 in a manner consistent with the original bond covenants per Health and
Safety Code section 34191.4(c). The former Rosemead Community Development
Commission issued tax increment bonds in July 2010 in order to the fund several critical
capital improvement projects in the City. Some projects were completed prior to the
dissolution of redevelopment; however, approximately $7.0 million of bond proceeds are still
being held by the Successor Agency for the remaining projects. These projects include:
Rosemead Oversight Board Meeting
Minutes of May 13, 2013
Page 1 of 3
ITEM N®. 2 ��
Rosemead Community Center and Public Plaza Expansion and Construction
Zapopan Park Improvements
Rosemead Park Improvements (Fitness and playground equipment)
Sewer System Expansion
Valley Blvd. Street Improvements
Rosemead Park Turf Improvements
Park Development at Rush & Walnut Grove
Over the past two years while the Successor Agency worked through all the objectives to
obtain the FOC, costs have increased and the economy has changed and the completion of
all the projects may no longer be obtainable, but the City is prepared to move forward with
the most critical projects as soon as possible. In order to move forward, the Successor
Agency must comply with Health and Safety Code section 34191.4(c), which is included as
Attachment B. Per this section of the code, the projects must be listed on the Recognized
Obligation Payment Schedule (ROPS), which the Successor Agency has done since the first
ROPS was submitted to the Department of Finance. These projects have remained on the
ROPS and have been included and approved on every subsequent BOPS. Staff is seeking
direction from the Oversight Board to ciAnn the inclusion of the capital improvement
projects on the ROPS and authorize the staff to move forward with the projects in a manner
consistent with the City's municipal code.
Recommendation: That the Oversight Board approve Resolution 2013 -0003, entitled:
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE
SUCCESSOR AGENCY TO THE ROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION RE- AFFIRMING THE
APPROVAL OF THE BOND PROCEEDS FUNDED CAPITAL
IMPROVEMENT PROJECTS AS PREVIOUSLY INCLUDED IN
THE RECOGNIZED OBLIGATION PAYMENT SCHEDULES
Assistant City Manager Matt Hawkesworth reviewed the staff report.
Board Member Nicole Lash made a motion, seconded by Board Member Dalila Sotelo, to approve
Resolution No. 2013.0003. Vote resulted in:
Yes: Allred, Jones, Lash, Sotelo, Wallach
No: None
Abstain: None
Absent: Miller, Redondo - Churchward
The Board requested that the meetings be moved back to the third Wednesday of each month.
4. ADJOURNMENT
The meeting adjourned at 5:39 p.m. The next Oversight Board meeting is scheduled to take place on June
10, 2013 at 5:00 p.m.
Rosemead Oversight Board Regular Meeting
Minutes of May 13, 2013
Page 2 of 3
ATTEST:
Matt Ha
Success
Assistai
Rosemead Oversight Board Regular Meeting
Minutes of May 13, 2013
Page 3 of 3
Pat Wallach
Chair