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HomeMy WebLinkAbout2012-10-11_OB_AgendaSPECIAL MEETING OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 AGENDA Thursday, October 11, 2012 3:30 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 – October 4, 2012  Recommendation: Oversight Board approve the Draft Action Minutes of October 4, 2012. B. BUSINESS ITEMS: 1. Approval of Due Diligence Review of Low Moderate Income Housing Fund  Fiscal Impact: None for this action.  Recommendation: Oversight Board approve Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures - AB 1484 Low/Moderate Housing Fund Report. [Administrative Services] 2. Review of Oversight Board Meeting Schedule  Fiscal Impact: None for this action.  Recommendation: Oversight Board receive oral report from staff and direct staff to cancel the next regular meeting of October 18, 2012. [City Clerk] C. BOARD MEMBER COMMENTS: D. CITY MANAGER COMMENTS: E. 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 assis t the City staff in assuring that reasonable arrangements can be made to provide accessibility to the meeting. ITEM NUMBER: OB A - 1 DATE: 10/11/12 Oversight Board for the Successor Agency Draft Action Minutes of October 4, 2012 Page 1 of 3 SPECIAL MEETING OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 DRAFT ACTION MINUTES Thursday, October 4, 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, Patterson, Sommer, Jarvis, Clemens, and Weathers Absent: None Staff Present: Administrative Services Director Rachelle Rickard, and City Clerk/Assistant to the City Manager Marcia McClure Torgerson. 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: 10/11/12 Oversight Board for the Successor Agency Draft Action Minutes of October 4, 2012 Page 2 of 3 APPROVAL OF AGENDA: MOTION: By Vice Chairperson Lewis and seconded by Board Member Patterson to approve the agenda. Motion passed 7:0 by a roll-call vote. PUBLIC COMMENT: None A. CONSENT AGENDA: 1. Oversight Board Draft Action Minutes – August 16, 2012  Recommendation: Oversight Board approve the Draft Action Minutes of August 16, 2012. MOTION: By Board Member Weathers and seconded by Board Member Sommer to approve the Consent Calendar. Motion passed 6:0 by a roll-call vote. (Board Member Jarvis abstained.) 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] Administrative Services Director Rachelle Rickard gave the staff report and answered questions from the Board. PUBLIC COMMENT: None The Board received and filed this report. There was Board consensus to schedule next week’s meeting on Thursday, October 11, 2012, at 3:30 p.m. C. BOARD MEMBER COMMENTS: Vice Chairperson Lewis asked Board Member Patterson (County Supervisor Patterson) that since the County will be receiving approximately $860,000.00 to their General Fund from Atascadero’s Redevelopment Agency, would he consider checking in with the ITEM NUMBER: OB A - 1 DATE: 10/11/12 Oversight Board for the Successor Agency Draft Action Minutes of October 4, 2012 Page 3 of 3 CAO or other Supervisors, about the possibility of making a commitment to use some of that money towards the type of projects they were originally intended to fund, such as ECHO, since they are so needed. Vice Chairperson Lewis stated that since we are similar governmental agencies and serving some of the same people, he hoped the County would consider such a commitment. Board Member Patterson said that he can certainly have that conversation with his colleagues at the County. He also asked Ms. Rickard for the breakdown of the distribution. Ms. Rickard responded that she will contact Barbara Godwin at the County Auditor – Controller’s office and have her forward the information to the taxing agencies . There was Board consensus to have staff place the issue of the next Regular Session, scheduled for Thursday, October 18th, and its possible cancellation, on the next agenda. D. ADJOURNMENT: Chairperson Kelley adjourned the meeting at 3:33 p.m. MINUTES PREPARED BY: ______________________________________ Marcia McClure Torgerson, C.M.C. City Clerk / Assistant to the City Manager ITEM NUMBER: OB B - 1 DATE: 10/11/12 Oversight Board for Successor Agency to the Community Redevelopment Agency of Atascadero Staff Report – Administrative Services Approval of Due Diligence Review of Low Moderate Income Housing Fund RECOMMENDATION: Oversight Board approve Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures- AB 1484 Low/Moderate Housing Fund Report. DISCUSSION: The adoption of AB1484 in June of 2012 requires that each former Redevelopment Agency have a 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 Controller, 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 Re view. 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 Revi ew of the Low/Moderate Income Housing Fund must be submitted to the State by October 15, 2012. ITEM NUMBER: OB B - 1 DATE: 10/11/12 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 Funds 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 & Hartzh eim 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. The Oversight Board reviewed the LMIHF Review in a public session on October 4, 2012 and will consider approving the LMIHF Review at its October 11, 2012 meeting. 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)