HomeMy Public PortalAboutOverisght Board Minutes - 2012/06/04AUDIO LINK FOR THE ENTIRE MEETING (12-3223)
Attachments: 06-04-12 Temple City Audio
I. CALL TO ORDER
Chair Jaynes called the meeting to order at 1:03 p.m.
II. ROLL CALL
Present:
Absent:
III. ADMINISTRATIVE MATTERS
1. Recommendation: Approve the minutes for May 7, 2012. (12-2488)
On motion by Board Member Payne, seconded by Board member Peacock,
this item was approved.
Ayes: Chair Jaynes, Vice Chair Peacock, Board Member
Payne, Board Member Pulido and Board Member
Haworth
5 -
Absent: Board Member Wiles and Board Member DeGonia 2 -
Attachments: Minutes for May 7, 2012
STATEMENT OF PROCEEDINGS FOR THE
REGULAR MEETING OF THE
CITY OF TEMPLE CITY OVERSIGHT BOARD
CITY OF TEMPLE CITY
COUNCIL CHAMBERS
5938 KAUFFMAN AVENUE
TEMPLE CITY, CALIFORNIA 91780
Monday, June 4, 2012
1:00 PM
Chair David Jaynes, Vice Chair Steven Peacock, Board Members:
Linda Payne, Scott Wiles, Jose Pulido and Brian Haworth
Jerrod R. DeGonia
June 4, 2012 Temple City Oversight Board Statement of Proceedings for the
2. Recommendation: Reschedule the Monday, July 2, 2012 meeting to a Special
Meeting - Monday, July 16, 2012 at 1:00 p. m. at the City Council Chambers.
(12-2535)
On motion by Board Member Payne, seconded by Board Member Haworth,
this item was approved to schedule a Special Meeting, Monday, July 16,
2012 at 1:00 p.m. at the City Council Chambers.
Ayes: Chair Jaynes, Vice Chair Peacock, Board Member
Payne, Board Member Pulido and Board Member
Haworth
5 -
Absent: Board Member Wiles and Board Member DeGonia 2 -
IV. DISCUSSION ITEMS
3. Report by the Ad-Hoc Subcommittee on retaining Legal Counsel Services for the
Oversight Board. (12-2511)
Attorney Teresa L. Highsmith, Colantuono & Levin, PC, gave a brief
introduction about herself and her background experience in advising
public agency clients regarding compliance with the Brown Act, Political
Reform Act, Public Records Act, and Community Redevelopment Law and
versed in the interpretation and application of the dissolution process set
forth in AB 1X 26 pertaining to the obligations and authority of both
Successor Agencies and Oversight Boards.
Chair Jaynes addressed the Oversight Board and informed them that the
Ad Hoc Sub-Committee recommended retaining Ms. Highsmith for legal
services. In addition, the Successor Agency recommended that the hiring
of Ms. Highsmith be brought to the Oversight Board on July 16, 2012
meeting.
On motion by Chair Jaynes, by Common Consent, there being no objection
(Board Members Wiles and DeGonia being absent), the Successor Agency
was instructed to place an action item to "Approve the contract with
Teresa L. Highsmith, Colantuono & Levin, PC as legal counsel for the
Oversight Board" on the July 16, 2012 agenda; and direct staff to negotiate
and prepare a contract with Ms. Highsmith and include legal services in the
forthcoming Reschedule Obligation Payment Schedules.
Attachments: Staff Report
Page 2
June 4, 2012 Temple City Oversight Board Statement of Proceedings for the
4. Status report on the Department of Finance (DOF) response to the former
Agency’s Recognized Obligation Payment Schedule (ROPS) for the period of
January 1, 2012 through June 31, 2012 and July 1, 2012 through December 31,
2012. (12-2515)
Tracey L. Hause, Administrative Services Director, presented a status
report and responded to questions posed by the Oversight Board.
Greg Murphy, Assistant City Attorney, informed the Oversight Board that
the Department of Finance disallowed three items: The City Loan, Housing
Obligation and the Rosemead Boulevard Project. Pursuant to current
legislation, the City Loan will be taken off the ROPS, however, with the
other two items the Successor Agency is requesting DOF to reconsider the
Housing Obligation because certain portions still needs to be paid and the
bonds proceeds to be used for the Rosemead Boulevard Project.
Mr. Murphy further informed the Oversight Board that the City and
Successor Agency are considering entering into an agreement as allowed
by ABX1 26 that would affect the section that will allow Bond proceeds to
be used. If the City approves this agreement, the Oversight Board will se e
the agreement and approve or disapprove at the next meeting along with a
revised ROPS.
Chair Jaynes expressed his concern on the Rosemead Boulevard Project
and voiced his thoughts that for the Rosemead Boulevard Project, it should
be priority for legal counsel to the Oversight Board to look into the matter.
By Common Consent, there being no objection (Board Member DeGonia
being absent), the status report was received and filed.
Ayes: Chair Jaynes, Vice Chair Peacock, Board Member
Payne, Board Member Wiles, Board Member Pulido
and Board Member Haworth
6 -
Absent: Board Member DeGonia 1 -
Attachments: Staff Report
Page 3
June 4, 2012 Temple City Oversight Board Statement of Proceedings for the
5. Discussion on the overview of the former Agency’s staffing obligations, the 1998
City Loan and the 2005 Tax Allocation Refunding Bonds. (12 -2534)
Tracey L. Hause, Administrative Services Director, presented a status
report and responded to questions posed by the Oversight Board.
Chair Jaynes needed clarification on the documents presented and asked if
the Successor Agency considered refinancing and yield to a lower rate.
Gregg Murphy, Assistant City Attorney, informed the Oversight Board that
the idea has not been considered nor has it been research and has
concerns if ABX1 26 will allow it. However, if the Oversight Board would
like, information can be presented at the next meeting.
Chair Jaynes then brings to the Oversight Board's attention on how the
Oversight Board would be able to finance for the attorney the Oversight
Board is planning to hire.
Ms. Hause advised that it would be paid by the Successor Agency under
the Administrative Cost. At the present time, the anticipated $250,000 of
Administrative Cost was not awarded.
By Common Consent, there being no objection (Board Member DeGonia
being absent), the status report was received and filed.
Attachments: Staff Report, 1998 City Loan and the 2005 Tax Allocation Refunding
Bonds
V. MISCELLANEOUS
6. Matters not on the posted agenda (to be presented and placed on the agenda of
a future meeting). (12-2531)
Chair Jaynes made a motion to place on the next agenda "Discussion and
recommendation on refinancing the Bond for the Oversight Board and the
Successor Agency."
Ayes: Chair Jaynes, Vice Chair Peacock, Board Member
Payne, Board Member Wiles, Board Member Pulido
and Board Member Haworth
6 -
Absent: Board Member DeGonia 1 -
Page 4
June 4, 2012 Temple City Oversight Board Statement of Proceedings for the
7. Public Comment. (12-2532)
There was no Public Comment.
8. Adjournment. (12-2533)
The meeting adjourned at 1:32 p.m. The next meeting of the Oversight
Board is a Special Meeting on Monday, July 16, 2012 at 1:00 p.m.
Page 5