HomeMy WebLinkAboutOB Min 2014-02-26 Seal Beach California
February 26, 2014
The Oversight Board for the Successor Agency to the Seal Beach
Redevelopment Agency met for the rescheduled regular meeting at 5:30 p.m. in
the City Hall Conference room with Chair Shanks calling the meeting to order
and Board Member Ingram led the Salute to the Flag.
ROLL CALL
Present: Board Members: Alayna Hoang, City of Seal Beach
Jill R. Ingram, City of Seal Beach
Gordon Shanks, OC Board of Supervisors
Suzie Payne, CA Community Colleges
Absent: Board Member(s): Michael Levitt, OC Board of Supervisors
Patricia Meyer, OC Department of Education
. Successor Agency Staff: Victoria L. Beatley, Director of Finance
Teresa Ho-Urano, Attorney — Richards, Watson, Gershon
Linda Devine, City Clerk/Secretary
ORAL COMMUNICATIONS
Chair Shanks opened oral communications. There were no speakers, Chair
Shanks closed oral communications.
BUSINESS MATTERS
ITEM "1" /APPROVE MINUTES / JANUARY 7, 2014
Payne moved, second by Ingram, to approve the minutes as presented.
AYES: Hoang, Ingram, Payne, Shanks
NOES: None
ABSENT: Levitt, Meyer Motion carried
ITEM "2" / RESOLUTION NO. OB14-02/ RE-ESTABLISH SEWER EASEMENT
LOAN AGREEMENT
The Director of Finance provided the staff report and introduced Teresa Ho-
Urano, attorney from Richards, Watson, Gershon, who explained that AB 1484
requires that interest on the Sewer Easement Loan must not exceed the interest
rate payable by the Local Agency Investment Fund ("LAIF") administered by the
State Treasurer. AB 1484 also provides that all accumulated unpaid interest
. must be recalculated from the origination of the Sewer Easement Loan at the
LAIF rate at the time when the Oversight Board resolution re-establishing the
Sewer Easement Loan is adopted — this rate may vary subject to the availability
of Redevelopment Property Tax Trust Fund (RPTTF) funds and the annual cap
imposed by AB 1484.
Ingram moved, second by Payne, to adopt Resolution No. 0814-02 entitled "A
RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY MAKING
FINDINGS TO RE-ESTABLISH THE SEWER EASEMENT LOAN AGREEMENT
AS AN ENFORCEABLE OBLIGATION AND TAKING CERTAIN RELATED
ACTIONS".
AYES: Hoang, Ingram, Payne, Shanks
NOES: None
ABSENT: Levitt, Meyer Motion carried
Oversight Board for the Successor Agency Meeting Minutes— February 26 2014 Page 1
ITEM "3" / RESOLUTION NUMBER OB14-03 /ADMINISTRATIVE BUDGET
The Director of Finance said that the State Department of Finance is now
requiring that the Administrative Budget be approved separate from the ROPS.
Payne moved, second by Hoang, to adopt Resolution No. 14-03 entitled "A
RESOLUTION OF THE OVERSIGHT BOARD OF DIRECTORS FOR THE
SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT
AGENCY APPROVING A PROPOSED ADMINISTRATIVE BUDGET FOR THE
SIX-MONTH FISCAL PERIOD FROM JULY 1 THROUGH DECEMBER 31, 2014
AND TAKING CERTAIN RELATED ACTIONS".
AYES: Hoang, Ingram, Payne, Shanks
NOES: None
ABSENT: Levitt, Meyer Motion carried
ITEM "4" / RESOLUTION NUMBER 0814-04 / RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (14-15A)
The Director of Finance indicated that the State Department of Finance had
required that the Housing Entity Administrative Cost Allowance be added — the
City Council voted to have Orange County administer the Housing Authority.
Payne moved, second by Hoang, to adopt Resolution No. 0B14-04 entitled "A
RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY
APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE
SIX-MONTH FISCAL PERIOD FROM JULY 1, 2014 THROUGH DECEMBER
31, 2014, AND TAKING CERTAIN RELATED ACTIONS".
AYES: Hoang, Ingram, Payne, Shanks
NOES: None
ABSENT: Levitt, Meyer Motion carried
ADJOURNMENT
With no objections the Chair adjourned the meeting at 6:05 p.m.
C air '.hanks
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bate'Approved
Atteste•fihii,�,. a )Ile�.
ity Jerk/Board Secretary
II
Oversight Board Cancelled Meeting Dates:
Due to the lack of business items in need of Board consideration, the following meetings
will be cancelled— March 4, 2014, April 1, 2014, May 6, 2014, and June 3, 2014.
Oversight Board for the Successor Agency Meeting Minutes— February 26, 2014 Page 2