HomeMy Public PortalAbout14. Resolution OB-008IN THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE
LIVERMORE REDEVELOPMENT AGENCY OF THE CITY OF LIVERMORE
CALIFORNIA
A RESOLUTION CONFIRMING AND APPROVING TRANSFERS OF
HOUSING ASSETS TO THE CITY AS THE SUCCESSOR TO THE
FORMER REDEVELOPMENT AGENCY S HOUSING FUNCTIONS
As part of the dissolution process the former Redevelopment Agency transferred
its housing assets to the City of Livermore as the successor to the agency s housing
function on January 31 2012 Two reviews of these housing asset transfers have been
completed and approved by the Department of Finance The transfer of agency s
housing assets was reviewed as part of the 20 Low and Moderate Housing due
Diligence Review that was approved by the Oversight Board December 12 2012 and
the Department of Finance on January 9 2013 In addition the transfer of the agency s
housing assets to the City was the subject of the Housing Asset Transfer review
Housing Asset Transfer Report that was submitted to and approved by the the
Department of Finance on August 31 2012
The dissolution legislation does not expressly require the housing asset transfer report
to be approved by the Oversight Board However based on its interpretation of the
dissolution legislation the State Controller s office will not recognize the transfer of the
housing assets from the former agency to the City of Livermore until the Oversight
Board formally approves the Housing Asset Transfer Report and the transfer of the
assets
NOW THEREFORE BE IT RESOLVED by the Oversight Board of the
Livermore Successor Agency that it hereby finds that
On May 16 2012 the Oversight Board approved the transfer of physical housing
assets from the former Redevelopment Agency of the City of Livermore to the
City of Livermore as the successor to the former agency s housing functions
2 On June 6 2012 the Oversight Board approved the transfer of assets including
physical housing assets from the former Redevelopment Agency of the City of
Livermore to the City of Livermore as the successor to the former agency s
housing functions
3 On October 17 2012 the Oversight Board adopted resolution no OBO 003
confirming the prior action of the Oversight Board on May 16 and June 6 2012
regarding the disposition of properties owned by the former Livermore
Redevelopment Agency to the City of Livermore
4 On August 1 2012 the Livermore Successor Agency submitted a Housing Asset
Transfer Report to the Department of Finance as required by Health Safety
RESOLUTION NO OB 008
Code section 34176 a 2 that identified various housing assets transferred from
the former Redevelopment Agency of the City of Livermore to the City of
Livermore as the successor to the former agency s housing functions On
August 31 2012 the Department of Finance approved the Housing Asset
Transfer Report and did not dispute the transfer of any of the housing assets
from the former Redevelopment Agency of the City of Livermore to the City of
Livermore this listing included the following non physical assets
Listing in Housing Assets List
Acct name Report
Union Bank Cash Exhibit B Line 1
Housing Loan Program
Assets in Trust Land Held
Advance Sr Living Prop Tax
Note Murrieta Investors
Advance SERAF
Note Rec Eden Housing
Exhibit D Line I 2
Exhibit A Line I
Exhibit D Line 3
Exhibit D Line 4
Exhibit G Lines I 2
Exhibit D Line 5
5 On December 5 2012 the 20 DDR was submitted to the Department of
Finance On December 12 2012 the Oversight Board approved the 20 Low
and Moderate Housing due Diligence Review 20 DDR as required by Health
Safety Code sections 34179 5 and 34179 6 On January 9 2013 the
Department of Finance approved the 20 DDR and did not dispute the transfer
of housing assets from the former Redevelopment Agency of the City of
Livermore to the City of Livermore
6 On April 15 2013 the State Controller s Office commenced a review of the
assets transferred from the former agency to the City of Livermore On May 1
2013 the State Controller s Office conducted an exit interview for that review and
stated that before it would recognize the transfer of the housing assets from the
former agency to the City of Livermore identified in the Housing Asset Transfer
Report the Oversight Board must formally consider and approve that report
BE IT RESOLVED by the Oversight Board of the Livermore Successor Agency
confirms that by its prior actions it approved the transfer of the housing assets from the
former Redevelopment Agency of the City of Livermore to the City of Livermore as the
successor to the former agency s housing functions and hereby specifically approves
the Housing Asset Transfer Report and the transfer of the housing assets identified
therein from the former agency to the City of Livermore The Oversight Board confirms
its prior stated intent to transfer all housing assets of the former agency to the City of
Livermore as the successor to the former agency s housing function and hereby
authorizes the Executive Director to take whatever actions are necessary and execute
whatever documents are necessary to complete the transfer
2 RESOLUTION NO OB 008
On motion of Oversight Board Member Oversight Board Member Wilson
seconded by Oversight Board Member Dunlop the foregoing Resolution was passed
and adopted on June 5 2013
AYES Oversight Board Members Dunlop Dvorsky Storti Uranga Wilson and
Vice Chair Gary
NOES Oversight Board Members
ABSENT Oversight Board Members Chair Haggerty
ABSTAIN Oversight Board Members
ATTEST
I ftt
Susan Neer
Clerk of the Board
SIGNED
0
Marc Roberts
Executive Director
3 RESOLUTION NO OB 008