HomeMy WebLinkAbout2012-04-24 OB Agenda Item No. 1eOVERSIGHT BOARD OF THE
SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE
TO: MEMBERS OF THE OVERSIGHT BOARD
FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL
DATE: APRIL 24, 2012
SUBJECT: CORRESPONDENCE FROM DEPARTMENT OF FINANCE
Discussion:
On Thursday, April 19, 2012, the Director of Administrative Services received an email
from the Department of Finance indicating it is reviewing certain items listed on the
Successor Agency's Recognized Obligation Payment Schedule (ROPS), as approved
by the Oversight Board at its last meeting on April 10, 2012. As a result, the Successor
Agency's ROPS is not considered effective. The email further states that the
Department of Finance will be in contact with the Successor Agency.
The Successor Agency will continue to make payments pursuant to enforceable
obligations as reflected in the FOPS. By way of background, DOF previously requested
and the Successor Agency has provided DOF with copies of specific agreements and
back -up documentation. To date, DOF has not provided any follow -up correspondence
with respect to those items.
We will keep you informed of any further correspondence received from the Department
of Finance.
Recommendation:
That the Oversight Board receive and file the correspondence from the Department of
Finance.
Prepared and approved by: Barbara Leibold,
City Attorney /Successor Agency Counsel
Attachment:
1. Copy of Email from Department of Finance
AGENDA ITEM 1e Page 1
Correspondence from Department of Finance
April 24, 2012
Page 2
From: Patterson, Mindy [ mai lto:Mindy.Patterson @dof.ca.gov]
Sent. Wednesday, April 18, 2012 11:54 AM
To: James Riley
Cc: Suess, Evelyn; pelias @co.riverside.ca.us; Jbaechel @co.riverside.ca.us; anash @co.riverside.ca.us
Subject: Lake Elsinore ROPS Review Initiation
Dear lames Riley,
On April 13, 2012, we received the Recognized Obligation Payment Schedule (ROPS) that was approved
by your Oversight Board for the Lake Elsinore Redevelopment Agency. Health and Safety Code section
34179 (h) allows the California Department of Finance (Finance) three business days to request a review
of an Oversight Board action.
This email serves as notice that we are requesting a review of one or more Enforceable Obligations
contained in your ROPS. Pending the resolution of the questions we have on these Enforceable
Obligations, your BOPS shall not be effective.
Since Finance is statutorily obliged to operate within a 10 -day review period, we will be contacting you
shortly to obtain further clarification and supporting documentation for the Enforceable Obligations in
question. We hope to work expeditiously with you to resolve these questions within the specified time
frame.
Mindy Patterson
Lead Analyst
Department of Finance
916.322.2985 x 3117
AGENDA ITEM 1e Page 2