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HomeMy WebLinkAboutItem No. 1OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CI'T'Y OF LAKE ELSINORE TO: MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: MAY 28, 2013 SUBJECT: APPROVAL OF MINUTE(S) Discussion The following Oversight Board Meeting Minute(s) are submitted for approval: a. Oversight Board Regular Meeting January 15, 2013 b. Oversight Board Regular Meeting February 26, 2013 Recommendation It is recommended that the Oversight Board approve the minutes of: a. Oversight Board Regular Meeting January 15, 2013 b. Oversight Board Regular Meeting February 26, 2013 Prepared by: Virginia Bloom City ClerktOversight Board Secretary AGENDA ITEM I Page I SPECIAL MEETING OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE 130 South Main Street, Lake Elsinore, CA 92530 MINUTES January 15, 2013 CALL TO ORDER Vice - Chairman Schultz called the meeting to order at 3:48 p.m. PLEDGE OF ALLEGIANCE Vice- Chairman Schultz led the pledge of allegiance. ROLL CALL PRESENT: Dr. Roger Schultz, Vice -Chair Genie Kelley, Board Member Justin Carlson, Board Member Dave Oster, Board Member George Landon, Board Member ABSENT: Brian Tisdale, Chairman Phil Williams, Board Member Also present: City Attorney Barbara Leibold, City Manager Grant Yates, City Clerk/Clerk of the Board Virginia Bloom, and Director of Administrative Services James Riley. PUBLIC COMMENTS — AGENDIZED ITEMS None PRESENTATIONS None CONSENT CALENDAR 1. Approval of Minutes Recommendation: It is recommended that the Oversight Board approve the minutes of: a. Oversight Board Regular Meeting of December 11, 2012 b. Oversight Board Regular Meeting of January 8, 2013 AGENDA ITEM 1 Special Oversight Board Meeting Minutes of January 15, 2013 3. Update on Successor Agency Activities Page 2 of 3 a. Investment Reports b. Warrant Lists Recommendation: It is recommended that the Oversight Board receive and file the Investment Reports and Warrant Lists. of Lake Elsinore Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2013 -001 changing the time and location for meetings of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore. Vice- Chairman Schultz abstained from voting on Agenda Item No. 1 due to his absence. Motion by Board Member Kelley, seconded by Board Member Landon to approve the Consent Agenda, less Item No. 1, passed by unanimous vote. Motion by Board Member Kelley, seconded by Board Member Carlson to approve Consent Agenda Item No. 1 passed by unanimous vote of 4 -0 -1. BUSINESS ITEMS 4. Due Diligence Review (All Other Funds) Recommendations: It is recommended that the Oversight Board receive public comments and any opinions offered by the County Auditor - Controller on the Due Diligence Review (All Other Funds) prepared by White Nelson Diehl Evans LLP on behalf of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore pursuant to California Health and Safety Code Section 34179.5. It is further recommended and that the Oversight Board adopt Resolution No. OB- 2013 -002 approving the Due Diligence Review (All Other Funds) determining that there are no unencumbered cash or cash equivalents available for disbursement pursuant to Health & Safety Code Section 34179.5 and taking certain other actions in connection therewith. Administrative Services Director Riley presented the report. City Attorney Leibold added that the review concludes that there are no funds available for distribution to taxing agencies. Motion by Board Member Kelley, seconded by Board Member Carlson to approve staff's recommendation; motion passed by unanimous vote. AGENDA ITEM 1 Special Oversight Board Meeting Page 3 of 3 Minutes of January 15, 2013 5. Consideration of Cancellation of January 22, 2013 Regular Meeting Recommendation: It is recommended that the Oversight Board cancel its regularly scheduled meeting of January 22, 2013. Motion by Board Member Oster, seconded by Board Member Kelley to cancel the regularly scheduled meeting of January 22, 2013; passed by unanimous vote. PUBLIC COMMENTS — NON- AGENDIZED ITEMS None STAFF COMMENTS City Attorney Leibold announced the upcoming ROPS 13 -14A to be presented for approval at the next regular meeting. OVERSIGHT BOARD MEMBER COMMENTS None ADJOURNMENT There being no further business to come before the Oversight Board, Vice - Chairman Schultz adjourned the meeting at 3:57 p.m. to the regular Meeting of February 12, 2013 at 3:45 p.m. to be held at City Hall, Conference Room A located at 130 S. Main Street in Lake Elsinore, CA. Roger Schultz, Vice - Chairman ATTEST: Virginia J. Bloom Clerk of the Oversight Board AGENDA ITEM 1 REGULAR MEETING OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE 130 South Main Street, Lake Elsinore, CA 92530 MINUTES February 26, 2013 CALL TO ORDER Chairman Tisdale called the meeting to order at 3:47 p.m. PLEDGE OF ALLEGIANCE Chairman Tisdale led the pledge of allegiance. ROLL CALL PRESENT: Brian Tisdale, Chairman Dr. Roger Schultz, Vice -Chair Genie Kelley, Board Member Nancy Lassey, Board Member Dave Oster, Board Member George Landon, Board Member Phil Williams, Board Member ABSENT: None Also present: City Attorney Barbara Leibold, City Manager Grant Yates, City Clerk/Clerk of the Board Virginia Bloom, and Director of Administrative Services James Riley. PUBLIC COMMENTS — AGENDIZED ITEMS None PRESENTATIONS • Introduction and Swearing in of Newly Appointed Employee Union Member Administrative Services Director Riley announced that Board Member Carlson had left the City of Lake Elsinore and vacated his appointment to the Oversight Board causing a vacancy. He announced that Mayor Magee had made the appointment to fill that vacancy and introduced Nancy Lassey as the newest Oversight Board Member as the City's Employee Union Member. Clerk of the Board Bloom administered the Oath of Office to Ms. Lassey. AGENDA ITEM 1 Introduction of Alternate Board Members, if any None CONSENT CALENDAR Update on Successor Agency Activities a. Investment Reports b. Warrant Lists Recommendation: It is recommended that the Oversight Board receive and file the Investment Reports and Warrant Lists. Motion by Board Member Kelley, seconded by Vice - Chairman Schultz to receive and file the Investment Reports and Warrant Lists; passed by unanimous vote. BUSINESS ITEMS 2. Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2013 -003 approving the Recognized Obligation Payment Schedule (ROPS 13- 14A) for July 1, 2013 through December 31, 2013, subject to adoption by the Successor Agency. Administrative Services Director Riley presented report to the Oversight Board stating that this report is identical to the previous ROPS. Board Member Williams questioned the variable rate on bonds and the letter of credit. Administrative Services Director Riley explained that the finance team was looking to refinance the bonds at a fixed rate with level debt service payments. Vice - Chairman Schultz offered that the City of Lake Elsinore's Oversight reports are one of only two agencies' statewide that have been approved by the Department of Finance. Motion by Vice - Chairman Schultz, seconded by Board Member Williams to adopt Resolution No. OB- 2013 -003; passed by unanimous vote. 3. Selection of Oversiaht Board Legal Counsel Recommendations: It is recommended that the Oversight Board evaluate the two finalists selected and interviewed by the subcommittee based upon the proposals and subcommittee report and direct staff to prepare a Legal Services Agreement with the selected firm to be presented for approval at the next Oversight Board Meeting. AGENDA ITEM 1 Board Member Kelley reported that she and Board Member Williams had interviewed the law firms of Slovak and Greer and felt that both firms would work well for the Board, therefore it was their suggestion that the selection come back to the entire board to select. Board Member Williams added that Attorney Greer is a sole attorney office and that he had experience with litigation, however no RDA experience. Board Member Lassey asked if the fees could be negotiated. Both Board Member Williams and Kelley responded that they tried to negotiate however to no avail. Board Member Lassey Inquired as to the scope of work for the legal counsel. Motion by Board Member Williams, seconded by Vice- Chairman Schultz to select Phillip Greer with a fixed retainer of $2,000 per month, litigation at hourly rate, that he be required to attend the Oversight Board meetings, to review the Agendas, business and legal issues of the Oversight Board; motion passed by a 6 -0 -1 vote with Chairman Tisdale abstaining from the vote. Oversight Board then provided direction to City Attorney Leibold to draw up a legal services contract for the subcommittee to review and bring back at the meeting of March 26, 2013 for approval or, if that meeting is cancelled, to the next Oversight Board meeting. 4. Reorganization of Oversight Board; Selection of Chair and Vice Chair Recommendations: It is recommended that the Oversight Board elect one member to serve as Chairperson and elect one member to serve as Vice Chairperson of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and direct staff to notify the Department of Finance of the name of the Chairperson, Vice Chairperson and each of the new members of the Oversight Board. City Attorney Leibold presented the report to the Oversight Board advising that the new positions would take effect at the next regularly scheduled meeting. Clerk Bloom opened the nominations for Chairman. Board Member Williams nominated Vice - Chairman Schultz who promptly declined the appointment. Vice - Chairman Schultz nominated Board Member Williams as Chair. No further nominations were received. Cleric Bloom opened the floor for nominations for Vice - Chair. Chairman Tisdale nominated Board Member Oster as Vice - Chair. No further nominations were received. By unanimous vote, Phil Williams was appointed Chairman and Dave Oster appointed Vice -Chair effective at the March 26, 2013 meeting. 5. Cancellation of March 12, 2013 Regular Meeting Recommendation: It is recommended that the Oversight Board cancel its regularly scheduled meeting of March 12, 2013. Motion by Board Member Kelley, seconded by Board Member Williams to cancel the March 12, 2013 meeting; passed by unanimous vote. AGENDA ITEM 1 PUBLIC COMMENTS — NON- AGENDIZED ITEMS None STAFF COMMENTS None • Z :• 11 • Board Member Williams congratulated City Attorney Leibold on her success with the approvals of all the Oversight Board reports thus far. Chairman Tisdale thanked the Oversight Board for allowing him to serve as Chairman for the first year; he welcomed the newest Board Member Nancy Lassey and thanked staff for their hard work. There being no further business to come before the Oversight Board, Chairman Tisdale adjourned the meeting at 4:27 p.m. to the next regularly scheduled meeting of March 26, 2013 at 3:45 p.m. to be held at City Hall, Conference Room A located at 130 S. Main Street in Lake Elsinore, CA. Brian Tisdale, Chairman ATTEST: Virginia J. Bloom Clerk of the Oversight Board AGENDA ITEM t