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Home My WebLink AboutOB Item No 1 Approval of Minutes 09-23-2014OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: CHAIRMAN OSTER AND MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: SEPTEMBER 23, 2014 SUBJECT: APPROVAL OF MINUTE(S) Recommendation It is recommended that the Oversight Board approve the minutes of: a. Oversight Board Regular Meeting February 25, 2014 Discussion The following Oversight Board Meeting Minute(s) are submitted for approval: a. Oversight Board Regular Meeting February 25, 2014 Prepared by: Virginia Bloom City Clerk /Oversight Board Secretary Page 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 25, 2014 CALL TO ORDER Chairman Williams called the meeting to order at 3:45 p.m. ROLL CALL PRESENT: Phil Williams, Chairman Dave Oster, Vice -Chair Genie Kelley, Board Member Nancy Lassey, Board Member Brian Tisdale, Board Member George Landon, Board Member Roger Schultz, Board Member ABSENT: None Also present: Successor Agency Counsel Barbara Leibold, Director of Administrative Services Jason Simpson, Deputy Clerk of the Board Diana Giron PUBLIC COMMENTS — AGENDIZED ITEMS None PRESENTATIONS • Introduction of Alternate Board Members, if any CONSENT CALENDAR 1. Approval of Minutes Recommendation: It is recommended that the Oversight Board approve the minutes of: a. Oversight Board Regular Meeting of October 22, 2013 2. Update on Successor Agency Activities a. Investment Report b. Warrant Lists February 25, 2014, Minutes Oversight Board Regular Meeting Page 2 of 5 Recommendation: It is recommended that the Oversight Board receive and file the Investment Report and Warrant Lists. Motion by Board Member Tisdale, seconded by Board Member Landon, to approve the Consent Calendar, passed by unanimous vote as follows: AYES Board Member Tisdale, Board Member Schultz, Chairman Williams. NOES None ABSENT: None ABSTAIN: None BUSINESS ITEMS Board Member Landon, Board Member Lassey, Board Member Kelley, Vice Chair Oster, and 3. Repayment of Supplemental Educational Revenue Augmentation Fund (SERAF) Loan Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2014 -001, A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore setting forth certain findings with respect to a SERAF loan between the former Redevelopment Agency and the City of Lake Elsinore in accordance with Health and Safety Code Section 34191.4 and approving a repayment schedule for the SERAF loan in accordance with Health and Safety Code Section 34171(D)(1)(G). Successor Agency Counsel Leibold presented the report to the Board. She explained in Fiscal Years 2009 -2010 and 2010 -2011 the State mandated Redevelopment Agencies to fund a Supplemental Educational Revenue Augmentation Fund (SERAF). The City's combined obligation for both fiscal years was in an excess of $8 million. Counsel Leibold also explained the Successor Agency's loan obligation was reported on Agency's ROPS (Recognized Obligation Payment Schedules and the repayment schedule. Motion by Board Member Tisdale, seconded by Board Member Kelley, to adopt Resolution No. OB- 2014 -001, passed unanimously by the following vote: AYES Board Member Tisdale, Board Member Kelley, Board Member Lassey, Board Member Landon, Board Member Schultz, Vice Chair Oster, and Chairman Williams. NOES None ABSENT: None ABSTAIN: None February 25, 2014, Minutes Oversight Board Regular Meeting Page 3 of 5 4. Recognized Obligation Payment Schedule (ROPS 14 -15A) for July 1, 2014 Through December 31. 2014 Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2014 -002 A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore Approving the Recognized Obligation Payment Schedule (Rops14 -15a) For the Period Of July 1, 2014 Through December 31, 2014 Subject to the Approval Thereof By the Successor Agency. Successor Agency Counsel Leibold presented the report to the Board. Motion by Chair Williams, seconded by Board Member Schultz, to to adopt Resolution No. OB- 2014 -002, passed unanimously by the following vote: AYES Chair Williams, Board Member Schultz, Board Member Kelley, Board Member Lassey, Board Member Tisdale, Board Member Landon, and Vice Chair Oster. NOES None ABSENT: None ABSTAIN: None 5. Consideration of a Resolution Changing the Date, Time and Location for Meetings of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2014 -003 changing the date, time and location for meetings of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore. Successor Agency Counsel Leibold presented the report to the Board. She explained the Oversight Board routinely cancelled meetings and due to lack of business items. Counsel Leibold reviewed the proposed quarterly schedule and any additional meetings would require a Special meeting. Motion by Board Member Kelley, seconded by Board Member Schultz, to adopt Resolution No. OB- 2014 -003, passed unanimously by the following vote: AYES Board Member Kelley, Board Member Schultz, Board Member Tisdale, Board Member Landon, Board Member Lassey, Vice Chair Oster, and Chairman Williams. NOES None ABSENT: None ABSTAIN: None February 25, 2014, Minutes Page 4 of 5 Oversight Board Regular Meeting 6. Amendment to Oversight Board Legal Services Agreement Recommendation: It is recommended that the Oversight Board adopt Resolution No. OB- 2014 -004 approving Amendment No. 1 to the Legal Services Agreement to reflect a revised quarterly meeting schedule and corresponding fee arrangement. It is also recommended that the Oversight Board discuss future ongoing legal services upon the expiration of the Legal Services Agreement and direct staff accordingly to prepare an item for consideration at the next Oversight Board meeting. Successor Agency Counsel Leibold presented the report to the Board, she explained the existing contract and fee schedule and the fee schedule for new quarterly meeting schedule. Motion by Board Member Lassey, seconded by Board Member Tisdale, to adopt Resolution No. OB- 2014 -004, passed unanimously by the following vote: AYES Board Member Lassey, Board Member Tisdale, Board Member Kelley, Board Member Landon, Board Member Schultz, Vice Chair Oster, and Chairman Williams. NOES None ABSENT: None ABSTAIN: None 7. Reorganization of Oversight Board: Selection of Chair and Vice Chair Recommendation: It is recommended that the Oversight Board elect one member to serve as Chairperson and 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 and Vice Chairperson. Motion by Chairman Williams, seconded by Board Member Tisdale, to nominated Oversight Board Vice -Chair Oster as the Oversight Board Chairman, passed unanimously by the following vote: AYES Chairman Williams, Board Member Tisdale, Board Member Lassey, Board Member Kelley, Board Member Landon, Board Member Schultz, and Vice Chair Oster. NOES None ABSENT: None ABSTAIN: None February 25, 2014, Minutes Page 5 of 5 Oversight Board Regular Meeting Board Member Tisdale nominated Board Member Lassey as Oversight Board Vice Chairperson. Board Member Lassey declined the nomination. Motion by Board Member Williams, seconded by Chairman Oster, to nominate Board Member Kelley as the Oversight Board Vice person, passed unanimously by the following vote: AYES Board Member Williams, Chairman Oster, Board Member Tisdale, Board Member Lassey, Board Member Kelley, Board Member Landon, and Board Member Schultz. NOES None ABSENT: None ABSTAIN: None PUBLIC COMMENTS — NON - AGENDIZED ITEMS None STAFF COMMENTS Successor Agency Counsel introduced Administrative Services Director Simpson to the Oversight Board. OVERSIGHT BOARD MEMBER COMMENTS Board Member Schultz announced that he will be stepping down from his appointment to the Board and this meeting was the last meeting he will attend. ADJOURNMENT There being no further business to come before the Oversight Board, Chairman Oster adjourned the meeting at 4:04 p.m. to the next regularly scheduled meeting of September 23, 2014 at 3:45 p.m. to be held at the Cultural Center, located at 183 N. Main Street in Lake Elsinore, CA. Dave Oster, Chairman ATTEST: Diana Giron, Deputy Clerk of the Oversight Board