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Home My WebLink About2012-10-04_OB_AgendaSPECIAL MEETING OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 AGENDA Thursday, October 4, 2012 3:00 P.M. Atascadero City Hall, Conference Room #4 6907 El Camino Real Atascadero, California CALL TO ORDER: ROLL CALL: Chairperson Kelley Vice-Chairperson Lewis Board Member Patterson Board Member Weathers Board Member Jarvis Board Member Sommer Board Member Clemens APPROVAL OF AGENDA: PUBLIC COMMENT: (This portion of the meeting is reserved for persons wanting to address the Board on any matter not on this agenda and over which the Board has jurisdiction. Speakers are limited to three minutes. Please state your name for the 1 On January 10, 2012, the Atascadero City Council adopted Resolution No. 2012-002, electing to serve as the successor to the Community Redevelopment Agency of Atascadero for redevelopment purposes, and also elected to retain the housing assets and functions previously performed by the Community Redevelopment Agency of Atascadero. record before making your presentation. The Board may take action to direct the staff to place a matter of business on a future agenda. A maximum of 30 minutes will be allowed for Public Comment, unless changed by the Board.) A. CONSENT AGENDA: 1. Oversight Board Draft Action Minutes – August 16, 2012  Recommendation: Oversight Board approve the Draft Action Minutes of August 16, 2012. B. BUSINESS ITEMS: 1. Public Session Regarding Due Diligence Review of Low Moderate Income Housing Fund  Fiscal Impact: None for this action.  Recommendation: In compliance with AB1484, the Oversight Board will review the LMIHF Review in public session, but will not take any action at this time. [Administrative Services] C. BOARD MEMBER COMMENTS: D. ADJOURNMENT: In compliance with the Americans with Disabilities Act, if you need special assistance to participate in an Oversight Board meeting, please contact the City Clerk’s Office at (805) 470-3400. Notification at least 48 hours prior to the meeting or time when services are needed will assist the City staff in assuring that reasonable arrangements can be made to provide accessibility to the meeting. ITEM NUMBER: OB A - 1 DATE: 10/04/12 Atascadero Oversight Board Draft Minutes August 16, 2012 Page 1 of 4 OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 DRAFT ACTION MINUTES Thursday, August 16, 2012 3:00 P.M. Atascadero City Hall, Conference Room #4 6907 El Camino Real Atascadero, California CALL TO ORDER: Chairperson Kelley called the meeting to order at 3:05 p.m. ROLL CALL: Present: Board Members Kelley, Lewis, Sommer, Clemens and Weathers Absent: Board Members Patterson, and Jarvis Staff Present: Administrative Services Director Rachelle Rickard, and City Clerk/Assistant to the City Manager Marcia McClure Torgerson. APPROVAL OF AGENDA: MOTION: By Vice Chairperson Lewis and seconded by Board Member Sommer to approve the agenda. Motion passed 5:0 by a roll-call vote. (Patterson & Jarvis absent) 1 On January 10, 2012, the Atascadero City Council adopted Resolution No. 2012-002, electing to serve as the successor to the Community Redevelopment Agency of Atascadero for redevelopment purposes, and also elected to retain the housing assets and functions previously performed by the Community Redevelopment Agency of Atascadero. ITEM NUMBER: OB A - 1 DATE: 10/04/12 Atascadero Oversight Board Draft Minutes August 16, 2012 Page 2 of 4 PUBLIC COMMENT: None A. CONSENT AGENDA: 1. Oversight Board Special Meeting Draft Action Minutes – June 21, 2012  Recommendation: Oversight Board approve the Special Meeting Draft Action Minutes of June 21, 2012. MOTION: By Board Member Weathers and seconded by Board Member Clemens to approve the Consent Agenda. Motion passed 4:0 by a roll-call vote. (Patterson & Jarvis absent, Sommer abstained) B. BUSINESS ITEMS: The Board unanimously decided to hear Item #2 first to better understand the ROPS for approval in Item #1. 2. Update on Successor Agency Activities  Fiscal Impact: None.  Recommendation: Oversight Board receive verbal report from Staff. [City Manager] Assistant City Manager Jim Lewis and Administrative Services Director Rachelle Rickard gave the staff report explaining the challenges facing the Successor Agency regarding the Due Diligence audit, reviewed the Department of Finance’s determinations, and answered questions from the Board. The Board received this verbal report and conducted a brief discussion. 1. Approval of Recognized Obligation Payment Schedule  Fiscal Impact: None for this action.  Recommendation: Oversight Board adopt the Draft Resolution approving Recognized Obligation Payment Schedule (ROPS) for the period of January 1, 2013 through June 30, 2013 and authorizing the City Manager to amend the ROPS. [Administrative Services] Administrative Services Director Rachelle Rickard gave the staff report and answered questions from the Board. Ms. Rickard also stated that the Board will need to schedule two Special Meetings in October; the first meeting would be a public hearing to receive comments from the public on the review by the licensed accountant for the Low Moderate Income Housing Fund Unencumbered Balances, and the second meeting would be to approve the Review by the licensed accountant for the Low Moderate Income Housing Fund Unencumbered Balances. ITEM NUMBER: OB A - 1 DATE: 10/04/12 Atascadero Oversight Board Draft Minutes August 16, 2012 Page 3 of 4 Ms. Rickard also told the Board that on the last page of the ROPS, there should be a Line #14 for Co. School Service with a RPTTF Estimate of $45,211.00, and a RPTTF Actual of $45,211.00. PUBLIC COMMENT: None MOTION: By Vice Chairperson Lewis and seconded by Board Member Weathers to adopt the Draft Resolution approving Recognized Obligation Payment Schedule (ROPS), including the addition of Line #14 on the last page for Co. School Service with an RPTTF Estimate and Actual of $45,211.00, for the period of January 1, 2013 through June 30, 2013 and authorizing the City Manager to amend the ROPS. Motion passed 5:0 by a roll-call vote. (Patterson & Jarvis absent) C. BOARD MEMBER COMMENTS: The Board discussed scheduling the two Special Meetings Ms. Rickard had recommended in her report. They settled on Thursday, October 4 th at 3:00 P.M. and Thursday, October 11th at 3:00 P.M. D. ADJOURNMENT: Chairperson Kelley adjourned the meeting at 3:45 p.m. MINUTES PREPARED BY: ______________________________________ Marcia McClure Torgerson, C.M.C. City Clerk / Assistant to the City Manager Attachment: Exhibit A – Important Dates within AB 1484, distributed by Ms. Rickard ITEM NUMBER: OB A - 1 DATE: Exhibit A 10/04/12 ITEM NUMBER: OB B - 1 DATE: 10/4/12 Oversight Board for Successor Agency to the Community Redevelopment Agency of Atascadero Staff Report – Administrative Services Public Session Regarding Due Diligence Review of Low Moderate Income Housing Fund RECOMMENDATION: In compliance with AB1484, the Oversight Board will review the LMIHF Review in public session, but will not take any action at this time. DISCUSSION: The adoption of AB1484 in June of 2012 requires that each for mer Redevelopment Agency have two separate due diligence reviews prepared by a licensed accountant. One review is for the remaining assets of the Low Moderate Income Housing Fund, and the other review is for all other former Redevelopment Agency Funds. The due diligence reviews require a licensed accountant to perform certain procedures designed to address specific areas of the legislation. The procedures were developed by the Department of Finance in conjunction with the California Society of Certified Public Accountants and were finalized on August 27, 2012. By October 1, 2012, the Due Diligence Review of the Low/Moderate Income Housing Fund (LMIHF Review) must be completed by the licensed accountant and submitted to the members of the Oversight Board, the County Auditor Controlle r, the State Controller and the Department of Finance. After receipt of the LMIHF Review, the Oversight Board must hold a public session to consider the LMIHF Review. The Oversight Board must then wait at least five business days after the public session , to hold another meeting in which they can consider approval of the LMIHF Review. The second meeting must be completed and the final approved Due Diligence Review of the Low/Moderate Income Housing Fund must be submitted to the State by October 15, 2012. ITEM NUMBER: OB B - 1 DATE: 10/4/12 The Department of Finance will then review the LMIHF Review and must approve or decide to overturn the Oversight Board approval by November 9, 2012. Within 5 days of the Successor Agency receipt of the Department of Finance decision, the Successor Agency may either: 1) Request a meet and confer process to resolve disputes on the Review; or 2) Transfer funds as reported in the LMIHF Review to the auditor-controller for distribution to the taxing agencies. A similar process will occur for the All Other Fu nds Due Diligence Review which must be approved by the Oversight Board by January 15, 2013. AB1484 and the 60 days it took to develop procedures left successor agencies and the CPAs very little time to perform the reviews. The Successor Agency was able to receive a proposal from Moss, Levy & Hartzheim (MLH) to perform the due diligence reviews and on September 21, 2012 a representative from Moss, Levy & Hartzheim was here to perform the field work for the LMIHF Review. The results of the LMIHF Review confirmed that the fund had $5,826,477 in assets as of June 30, 2012. Of this $1,559,377 were not liquid assets, therefore not available for distribution, and $320,076 of this had already been distributed to taxing agencies in July. This leaves a balance of $3,947,024 that will be distributed to the taxing agencies. No exceptions were found by MLH during the Low Moderate Income Housing Fund Due Diligence Review. In compliance with AB1484, the Oversight Board will review the LMIHF Review in a public session, but will not take any action on this item at this time. FISCAL IMPACT: None for this action. ATTACHMENT: Due Diligence Review of the Low/Moderate Income Housing Fund (entitled Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures - AB1484 Low/Moderate Housing Fund)