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HomeMy WebLinkAbout2013-01-03_OB_Agenda OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 SPECIAL MEETING AGENDA Thursday, January 3, 2013 3:00 P.M. Atascadero City Hall, Conference Room #4 6907 El Camino Real Atascadero, California CALL TO ORDER: ROLL CALL: Chairperson Fonzi Vice Chairperson McKinney Board Member Patterson Board Member Weathers Board Member Jarvis Board Member Sommer Board Member Clemens APPROVAL OF AGENDA: 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. 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 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 11, 2012  Recommendation: Board approve the Oversight Board Draft Action Minutes of October 11, 2012. 2. Oversight Board Draft Action Minutes – December 20, 2012  Recommendation: Board approve the Oversight Board Draft Action Minutes of December 20, 2012. B. BUSINESS ITEMS: 1. Approval of Due Diligence Review of Other Funds  Recommendation: Board approve the Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures - AB 1484 Other Funds Report. 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: 01/03/13 Oversight Board October 11, 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 11, 2012 3:30 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 3:30 p.m. ROLL CALL: Present: Board Members Jarvis, Clemens, Patterson, Sommer, Weathers, and Chairperson Kelley Absent: Vice Chairperson Lewis Staff Present: City Manager Wade McKinney, 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: 01/03/13 Oversight Board October 11, 2012 Page 2 of 3 APPROVAL OF AGENDA: MOTION: By Board Member Sommer and seconded by Board Member Patterson to approve the agenda. Motion passed 6:0 by a roll-call vote. PUBLIC COMMENT: None A. CONSENT AGENDA: 1. Oversight Board Draft Action Minutes – October 4, 2012  Recommendation: Oversight Board approve the Draft Action Minutes of October 4, 2012. MOTION: By Board Member Jarvis and seconded by Board Member Sommer to approve the Consent Calendar. Motion passed 6:0 by a voice vote. 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] Administrative Services Director Rachelle Rickard gave the staff report and answered questions from the Board. PUBLIC COMMENT: None MOTION: By Board Member Clemens and seconded by Board Member Weathers to approve Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures- AB 1484 Low/Moderate Housing Fund Report. Motion passed 6:0 by a roll-call vote. ITEM NUMBER: OB A - 1 DATE: 01/03/13 Oversight Board October 11, 2012 Page 3 of 3 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] Mayor Kelley stated that this item is about cancelling the regularly scheduled meeting next week, and meet again in December. MOTION: By Board Member Sommer and seconded by Board Member Clemens to cancel their regularly scheduled meeting of October 18, 2012, and meet at the next regularly scheduled meeting on December 20, 2012. Motion passed 6:0 by a voice vote. C. BOARD MEMBER COMMENTS: None D. CITY MANAGER COMMENTS: Ms. Rickard explained to the Board that the Department of Finance (DOF) has approved our ROPS, except for 5 line items, all are City Hall projects. She and City Manager McKinney will attend a Meet and Confer meeting next week with the DOF in an attempt to resolve these issues. E. ADJOURNMENT: Chairperson Kelley adjourned the meeting at 3:50 p.m. MINUTES PREPARED BY: ______________________________________ Marcia McClure Torgerson, C.M.C. City Clerk / Assistant to the City Manager ITEM NUMBER: OB A - 2 DATE: 01/03/13 Atascadero Oversight Board December 20, 2012 Page 1 of 3 OVERSIGHT BOARD FOR SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO FOR REDEVELOPMENT AND HOUSING PURPOSES1 DRAFT ACTION MINUTES Thursday, December 20, 2012 3:00 P.M. Atascadero City Hall, Conference Room #4 6907 El Camino Real Atascadero, California CALL TO ORDER: City Clerk Torgerson announced that Mayor O’Malley had appointed Council Member Fonzi and City Manager McKinney to replace Chairperson Kelley and Vice Chairperson Lewis. Therefore, Ms. Torgerson called the meeting to order at 3:05 p.m. ROLL CALL: Present: Board Members Clemens, Weathers, Fonzi and McKinney Absent: Board Members Jarvis, Patterson, and Sommer 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 - 2 DATE: 01/03/13 Atascadero Oversight Board December 20, 2012 Page 2 of 3 APPROVAL OF AGENDA: MOTION: By Board Member Weathers and seconded by Board Member McKinney to approve the agenda. Motion passed 4:0 by a roll-call vote. BOARD REORGANIZATION: 1. Election of Chairperson and Vice Chairperson  Recommendation: Oversight Board elect one member to serve as Chairperson and elect one member to serve as Vice Chairperson for the Oversight Board for Successor Agency to the Community Redevelopment Agency of Atascadero. City Clerk Torgerson gave the staff report and answered questions from the Board. PUBLIC COMMENT: None City Clerk Torgerson accepted nominations for Chairperson. MOTION: By Board Member Weathers and seconded by Board Member McKinney to nominate Board Member Fonzi to the position of Chairperson. Motion passed 4:0 by a roll-call vote. Chairperson Fonzi accepted nominations for Vice-Chairperson. MOTION: By Board Member Weathers and seconded by Board Member Clemens to nominate Board Member McKinney to the position of Vice-Chairperson. Motion passed 4:0 by a roll-call vote. PUBLIC COMMENT: None A. CONSENT AGENDA: 1. Oversight Board Special Meeting Draft Action Minutes – October 11, 2012  Recommendation: Oversight Board approve the Special Meeting Draft Action Minutes of October 11, 2012. ITEM NUMBER: OB A - 2 DATE: 01/03/13 Atascadero Oversight Board December 20, 2012 Page 3 of 3 This item was continued to the next meeting as a majority of the Board, that were present at the October 11, 2012 meeting, are absent today. B. BUSINESS ITEMS: 1. Accountant’s Report on Applying Agreed-Upon Procedures  Recommendation: Board receive and file Accountant’s Report on Applying Agreed-Upon Procedures prepared by the County of San Luis Obispo 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. 2. Public Session Regarding Due Diligence Review of Other Funds  Recommendation: Oversight Board review the Due Diligence Review in public session. Administrative Services Director Rachelle Rickard gave the staff report and answered questions from the Board. PUBLIC COMMENT: None The Board reviewed the Due Diligence Review in public session. It was also confirmed that the Board would be meeting again on January 3, 2013 to approve the Due Diligence Report. C. BOARD MEMBER COMMENTS: None D. ADJOURNMENT: Chairperson Fonzi adjourned the meeting at 3:35 p.m. MINUTES PREPARED BY: ______________________________________ Marcia McClure Torgerson, C.M.C. City Clerk / Assistant to the City Manager ITEM NUMBER: OB B - 1 DATE: 01/03/13 Oversight Board for Successor Agency to the Community Redevelopment Agency of Atascadero Approval of Due Diligence Review of Other Funds RECOMMENDATION: Board approve the Successor Agency to the Community Redevelopment Agency of Atascadero Agreed Upon Procedures- AB 1484 Other Funds Report. 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 December 17, 2012, the Due Diligence Review of the Other Funds (Other Funds 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 Other Funds Review, the Oversight Board must hold a public session to consider the Other Funds 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 Other Funds Review. The second meeting must be completed and the final approved Due Diligence Review of the Other Funds must be submitted to the State by January 15, 2013. The Department of Finance will then review the Other Funds Review and must approve or decide to overturn the Oversight Board approval by April 1, 2013. Within five days of the Successor Agency receipt of the Department of Finance decision, the Successor ITEM NUMBER: OB B - 1 DATE: 01/03/13 Agency may either: 1) Request a meet and confer process to resolve disputes on the Review; or 2) Transfer funds as reported in the Other Funds Review to the auditor- controller for distribution to the taxing agencies. The results of the Other Funds Review confirmed that the funds had $16,413,420 in assets as of June 30, 2012. This amount is reduced by:  $1,456,919 that is legally restricted by various bond documents  $5,752,747 of non- liquid assets  $2,228,446 that was needed to satisfy the ROPS for the 2012-2013 fiscal year  $762,507 that was distributed to taxing agencies in July of 2012 This leaves a balance of $6,152,801 that will be distributed to the taxing agencies sometime in the spring. The report contains various schedules required by the legislation.  Attachment A shows assets transferred from the Redevelopment Agency to the Successor Agency on 1/31/12. (Per the legislation, related liabilities are not shown)  Attachment B shows amounts transferred from the Redevelopment Agency to the City during the period of January 1, 2011 through January 31, 2012  Attachment B1 is the Asset transfer assessment for submitted to t he State Controller in May of 2012  Attachment C shows the assets, liabilities, revenues and expenditures for various years for all redevelopment funds (including the Low -Moderate Income Housing Fund)  Attachment D is a listing of assets for other funds as of June 30, 2012. This shows total assets of $16,413,420 and ties to the total assets listed in Attachment H  Attachment E details $1,456,919 in assets that are restricted for specific use by bond covenants  Attachment F details $5,752.747 in non-liquid assets. These assets are not easily converted to cash and thus cannot be “paid” to the County for distribution. They include capital assets such as park improvements and buildings, along with other accounting assets  Attachment G details $2,288,446 that needs to be withheld from the available RDA assets in order to meet required obligations on the ROPS.  Attachments G1 and G2 are copies of the Oversight Board approved ROPS for the periods of July 1, 2012 – December 31, 2012 and January 1, 2013- June 30, 2013.  Attachment H calculates the amount to be distributed to the taxing agencies. No exceptions were found by MLH during the Due Diligence Review of Other Funds. In compliance with AB1484, the Oversight Board reviewed the Due Diligence Review of Other Funds in a public session on December 20, 2012 and will consider approving the Other Funds Review at its January 3, 2013 meeting. ITEM NUMBER: OB B - 1 DATE: 01/03/13 ATTACHMENT: 1. Successor Agency of the City of Atascadero Agreed Upon Procedures – AB1484 Other Funds (Due Diligence Review of Other Funds)