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12-15-2015 - Approval of Meeting Minutes (receive & file) - Item No. SA1 (2).pdfCity of West Covina MEMORANDUM AGENDA ITEM NO.: SA1 DATE: December 15, 2015 MINUTES CITY OF WEST COVINA CITY COUNCIL/SUCCESSOR AGENCY WEDNESDAY, JULY 15, 2015, 6:00 PM SPECIAL MEETING CITY HALL COUNCIL CHAMBERS 1444 W. GARVEY AVENUE SOUTH WEST COVINA, CALIFORNIA 91790 MINUTES CALL TO ORDER — Mayor Sykes called the meeting to order at 6:05 p.m. PLEDGE OF ALLEGIANCE — Led by Mayor Sykes ROLLCALL Mayor Sykes, Mayor Pro Tern Tama Councilmembers Spence (arrived at 6:06 p.m.), Warshaw, Wong 2015-2016 FISCAL YEAR BUDGET STUDY SESSION 1) Staff Presentation of Proposed 2015-2016 Budget Interim City Manager Mauk made opening comments regarding the 2015-16 budget and stated the proposed budget is a balanced General Fund budget. The budget also includes resources to address Tuesday July 15, 2015 issue that have been identified in the State audit. Mr. Mauk commended staff for their work on the budget. Finance Director Christa Buhagiar presented a PowerPoint presentation and an overview of the 2015- 16 Operating and Capital Improvement Program budget. Highlights of the presentation included an overview of revenues, expenditures, various CIP projects, personnel changes, sales tax revenue and PERS rates and its unfunded liability. PUBLIC COMMENTS Mayor Sykes opened the Public Comment period. John Shewmaker, West Covina resident, complimented the staff for their work on the budget. With no one else wishing to speak on items on the special meeting agenda, Mayor Sykes closed the Public Comment period. Interim City Manager Mauk presented an overview of the City Manager's Office and City Council proposed budget. Council discussion included expanding the hours that City Hall is open from 4 days a week to 5 days a week and possibly half day on Saturday, sale of city owned property, and goals and accomplishments. Motion by Spence and seconded by Warshaw to direct staff to bring back a report and to include costs of expanding City Hall hours to be open on Fridays, half day on Saturday, and later hours on City Council meeting days. Motion carried 5-0. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None Motion by Spence and seconded by Sykes to have staff bring back an inventory of City owned properties in order for Council to evaluate for possible sale for CIP projects. Motion carried 5-0. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None Finance Director Buhagiar provided a brief overview of Revenues and responded to questions from Council regarding revenues and fund balances. Councilman Spence requested to agendize for closed session a discussion on street sweeping fees and their use that have been collected through the sewer tax bill. 2 Tuesday July 15, 2015 Interim City Manager Mauk, assisted by staff, presented an overview of each of the following departments with council discussion as follows: City Clerk's Department Council discussion/comments included the posting of FPPC forms on the website, election costs and passport services. Finance Department Council discussion/comments included Purchasing Manager positions, retirement costs, and audits Human Resources Department Council discussion/comments included year end actuarial line item and consultant costs. Planning Department Council discussion/comments included staffing levels. Police Department Council discussion/comments included posting of post-employment liability, benefit costs, code enforcement, asset forfeitures, graffiti abatement, school resource officers and West Covina Service Group. Fire Department Council discussion/comments included response call numbers, the paramedic subscription program and patient transport. Motion by Spence and seconded by Wong to have staff return with analysis of costs and benefits of ambulance subscription fees and the related costs of the program and other options to increase Fire Department revenues. Motion carried 4-1. AYES: Spence, Toma, Wong, Sykes NOES: Warshaw ABSENT: None Public Works Department Council discussion/comments included part time salaries. 3 Tuesday July 15, 2015 Community Services Department Council discussion/comments included need to further discuss CDBG guidelines and the Community Services Foundation Board operations. Capital Improvement Program (CIP) Projects Interim City Manager Mauk stated the CIP program is presented by both fiscal year of the proposed project and by type of improvement. No Council discussion. Council engaged in discussion regarding the position salary schedules and their ranges/steps and part time salaries and the setting of those salaries. Council engaged in closing comments discussing multi-year proj ections, the state audit and commended staff, specifically the Finance Department, for the preparation of the budget. FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT 2) Appropriations Limit for Fiscal Year 2015-2016 It is recommended that the City Council adopt the following resolution: RESOLUTION NO. 2015-55 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, SETTING THE ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL YEAR ENDING JUNE 30, 2016 Councilmember Wong generated discussion regarding the method utilized to arrive at the appropriations limit and supported using the calculation which result in a lower conservative appropriations limit, using growth change of the City rather the County. Motion by Wong and seconded by Toma to approve Resolution Non. 2015-55 with the amendment to compute the appropriations limit using the change in population for the City of West Covina rather than the County of Los Angeles. Motion carried5-0. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None 3) Adoption of the City of West Covina Fiscal Year 2015-2016 Annual Operating and Capital Improvement Program Budget It is recommended that the City Council take the following actions: a.) Review and approve the Fiscal Year 2015-2016 Proposed Operating and Capital Improvement Program Budget, and take action as appropriate; and 4 Tuesday July 15, 2015 b.) Adopt the following resolution: RESOLUTION NO. 2015-56 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, ADOPTING A BUDGET FOR THE CITY OF WEST COVINA, THE SUCCESSOR AGENCY TO THE FORMER WEST COVINA REDEVELOPMENT AGENCY, THE WEST COVINA COMMUNITY SERVICES FOUNDATION, INCORPORATED, AND THE LOCAL ENFORCEMENT AGENCY OPERATING BUDGETS AND THE CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEAR 2015-2016 Or alternatively, adopt the following resolution: RESOLUTION NO. 2015-57 - A RESOLUTION OF THE CITY OF WEST COVINA, CALIFORNIA, TO CONTINUE APPROPRIATIONS CONSISTENT WITH THE 2014-2015 FISCAL YEAR CITY OF WEST COVINA, THE SUCCESSOR AGENCY TO THE FORMER WEST COVINA REDEVELOPMENT AGENCY, THE WEST COVINA COMMUNITY SERVICES FOUNDATION, INCORPORATED, AND THE LOCAL ENFORCEMENT AGENCY OPERATING BUDGETS AND THE CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEAR 2015-2016 Motion by Wong and seconded by Warshaw to adopt Resolution No. 2015-56 adopting the City of West Covina, Successor Agency to the former West Covina Redevelopment Agency, the West Covina Community Service Foundation and the Local Enforcement Agency operating budgets and the Capital Improvement program for fiscal year 2015-2016. Mayor Pro Tem Toma stated that due to his employment with the State's Attorney's Office, which oversees non-profits, he would abstain from voting on the approval of the Community Services Foundation budget. Motion carried 5-0 with Toma abstaining from approving the Community Services Foundation budget. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None ABSTAIN: Toma on the Community Services budget only ADJOURNMENT — Motion by Warshaw and seconded by Wong to adjourn the special meeting at 8:57 p.m. Submitted by: Rosalia A. Conde, CMC Assistant City Clerk James Toma Mayor 5 WESivCR CITY OF WEST COVINA CITY COUNCIL/SUCCESSOR AGENCY TUESDAY JULY 21, 2015, 6:00 PM REGULAR MEETING — CLOSED SESSION CITY MANAGER'S CONFERENCE ROOM 1444 W. GARVEY AVENUE WEST COVINA, CALIFORNIA 91790 MINUTES Mayor Sykes called to order the regular closed session meeting of the West Covina City Council at 6:02 p.m. in the City Manager's Conference Room at City Hall, 1444 W. Garvey Avenue, West Covina. ROLL CALL Present: Mayor Sykes, Mayor Pro Tern Toma Councilmembers Spence, Warshaw, Wong Others Present: Mauk, Freeland, Barlow, Morales, Crown PUBLIC COMMENTS ON ITEMS ON THE AGENDA None CLOSED SESSION Mayor Sykes commenced the closed session at 6:07 p.m. to discuss the following matter(s): CONFERENCE WITH LEGAL COUNSEL — EXISTING LITIGATION Pursuant to Government Code § 54956.9(d)(1) Debbie Dominguez v. City of West Covina Tuesday July 21, 2015 CONFERENCE WITH LEGAL COUNSEL — EXISTING LITIGATION Pursuant to Government Code § 54956.9(d)(1) State of California Department of Transportation v. West Covina Successor Agency, et al. [Westfield Mall] PUBLIC EMPLOYEE PERFORMANCE EVALUATION Pursuant to Government Code § 54957 Title: Interim City Manager CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Government Code ,§ 54957.6 City Negotiators: Mauk, Freeland • Employee Organizations - W.C. Police Officers' Association - W.C. Firefighters' Management Assoc. ADJOURNMENT Mayor Sykes adjourned the meeting at 6:40 p.m. Submitted by: Rosalia A. Conde, CMC Assistant City Clerk James Toma Mayor 2 CITY OF WEST COVINA SUCCESSOR AGENCY TUESDAY, JULY 21 2015, 7:00 PM REGULAR MEETING CITY HALL COUNCIL CHAMBERS 1444 W. GARVEY AVENUE SOUTH WEST COVINA, CALIFORNIA 91790 MINUTES CALL TO ORDER — Chairman Fredrick Sykes called the meeting to order at 8:28 p.m. ROLL CALL Present: Chairman Sykes, Vice Chairman Toma Agency Members Spence, Warshaw, Wong CHANGES TO THE AGENDA No changes made. DEPARTMENTAL REGULAR MATTERS SA1) Approval of Long-Range Property Management Plan for the West Covina Successor Agency of the Former West Covina Redevelopment Agency It is recommended that the Successor Agency approve the Long-Range Property Management Plan to address the disposition and use of the real properties of the Successor Agency to the former West Covina Redevelopment Agency, as required under California Health and Safety Code Section 34191.5. Tuesday July 21, 2015 Assistant City Manager/Community Development Commission Director Freeland presented the staff report and introduced consultants from Kosmont Companies. Consultants presented a detailed overview of the Long-Range Property Management Plan and answered questions. Motion by Toma and seconded by Spence to approve the Long-Range Property Management Plan. Motion carried 5-0. AYES: Spence, Torna, Warshaw, Wong, Sykes NOES: None ABSENT: None ADJOURNMENT Chairman Sykes adjourned the Successor Agency Regular Meeting at 8:55 p.m. Submitted by Rosalia A. Conde, CMC Assistant Agency Secretary James Toma Chairman 2 CITY OF WEST COVINA SUCCESSOR AGENCY TUESDAY, AUGUST 18 2015, 7:00 PM REGULAR MEETING CITY HALL COUNCIL CHAMBERS 1444 W. GARVEY AVENUE SOUTH WEST COVINA, CALIFORNIA 91790 MINUTES CALL TO ORDER — Chairman Fredrick Sykes called the meeting to order at 10:24 p.m. ROLL CALL Present: Chairman Sykes, Vice Chairman Toma Agency Members Spence, Warshaw, Wong CHANGES TO THE AGENDA No changes made. CONSENT CALENDAR 1) Successor Agency Treasurer's Report for the Quarter Ended June 30, 2015 It is recommended that the City Council, acting as the Successor Agency to the West Covina Redevelopment Agency, receive and file the report. Motion by Wong and seconded by Toma to receive and file. Motion carried 5-0. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None Tuesday August 18, 2015 2) Resolution Authorizing the City Acting as Successor Agency to the West Covina Redevelopment Agency to use the Local Agency Investment Fund (LAIF) as an Investment Alternative It is recommended that the City Council, acting as the Successor Agency of the West Covina Redevelopment Agency, adopt the following resolution: RESOLUTION NO. 2015-59 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, ACTING AS TEH SUCCESSOR AGENCY TO THE WEST COVINA REDEVELOPMENT AGENCY AUTHORIZING THE USE OF THE LOCAL AGENCY INVESTMENT FUND UNDER THE OFFICE OF THE CALIFORNIA STATE TREASURER AS AN INVESTMENT ALTERNATIVE Motion by Wong and seconded by Toma to adopt Resolution No. 2015-59. Motion carried 5-0. AYES: Spence, Toma, Warshaw, Wong, Sykes NOES: None ABSENT: None ADJOURNMENT Motion by Wong and seconded by Warshaw to adjourn the Successor Agency Regular Meeting at 10:27 p.m. Submitted by Rosalia A. Conde, CMC Assistant Agency Secretary James Toma Chairman 2 City of West Covina Memorandum AGENDA ITEM NO. SA2 DATE December 15, 2015 TO: Chair and Board Members of the Successor Agency FROM: Chris Freeland Executive Director BY: Christa Buhagiar Finance Director SUBJECT: SUCCESSOR AGENCY TREASURER'S REPORT FOR THE MONTH ENDED OCTOBER 31, 2015 RECOMMENDATION: It is recorrimended the City Council, acting as the Successor Agency to the former West Covina Redevelopment Agency, receive and file this report. DISCUSSION: The Investment Policy of the City of West Covina also applies to the Successor Agency to the former West Covina Redevelopment Agency. In accordance with Section XVI of the City of West Covina Fiscal Year 2015-16 Statement of Investment Policy, a Treasurer's Report for the month ended October 31, 2015, is hereby submitted to the Successor Agency. It also includes cash held by trustees for all bond issues and cash in the various Successor Agency bank accounts as well as reporting on compliance with the City's Investment Policy and providing a statement of the ability to meet budgeted expenditure needs for the following six months. At October 31, 2015, the Treasurer's Report shows that the Successor Agency's portfolio decreased by $927,730.53 from $9,420,254.19 on September 30, 2015, to $9,420,254.19 on October 31, 2015. The major decrease is the result of reimbursement from the Community Facilities District (CFD) to the City to true up the sales tax revenue sharing. The Successor Agency's surplus funds are in investment pools with the State of California Local Agency Investment Fund (LAIF) and the Los Angeles County Investment Pool (LACIP). These funds are completely liquid, as the City can withdraw them at any time. Approximately 76 percent of the portfolio is on deposit in LACIP and the remaining small amount of available cash is on deposit in the checking account and LAIF. The Bond Detail Report includes Fiscal Agent investments of Successor Agency cash which is being held to service various issues of bonded debt. \ Nicole Lugotoff A Prepared by: Accounting Manager Reviewed by: Christa Buhagiar Finance Director ATTACHMENT NO. 1 — Treasurer's Report Market Value Book Value 397,037 $ 397,037 560,815 560,815 1 799,891 779,488 996,548 996,548 5,042,650 5,042,650 7,796,941 $ 7,776,539 Nicole Lbtotoff, Accoun ng Mity'aber West Covina Successor Agency Treasurer's Report October 31, 2015 Investment Portfolio Book Value Market Value % of Portfolio Bank Accounts $ 433,360 $ 433,360 5.1% State Local Agency Investment Fund (LAIF) 2,044 2,045 0.0% Los Angeles County Investment Pool (LACIP) 8,057,120 8,057,120 94.9% Total Cash and Investments $ 8,492,524 $ 8,492,525 100.0% !Blended Yield * 0.77% Benchmarks: _ LAW 0.36% LACIP * 0.77% 6mo U.S. Treasury 0.23% 2yr U.S. Treasury 0.75% 5yr U.S. Treasury 1.88% Restricted Funds with Fiscal Agent 1988 Housing Set-Aside Tax Allocation Bonds Series A & B 1998 Housing Set-Aside Tax Allocation Bonds Series A & B 1999 Taxable Variable Rate Demand Tax Allocation Bonds 2001 Housing Set-Aside Tax Allocation Revenue Bonds 2002 Taxable Variable Rate Lease Revenue Refunding Bonds 1996 Special Tax Refunding Bonds Total Restricted Funds To ensure timely submission of the City Treasurer's Report, the prior month's LACIP percentage yield is used. I hereby certify that the investments are in compliance with the investment policy adopted by the City Council in July 2015. The investment portfolio provides sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report meets the requirements of Government Code Section 53646. PREPARED BY: APPROVED BY: Christa Buhagiar, Finance Director West Covina Successor Agency Investment Portfolio Activity October 31, 2015 September 30, 2015 Deposits Withdrawals October 31, 2015 Checking Accounts Wells Fargo Checking Wells Fargo Checking - C.F.D. Subtotal $ 1,846,613.11 $ $ 1,740,621.45 $ 105,991.66 429,035.88 2,285,730,75 2,387,398 24 327,368.39 $ 2,275,648.99 $ 2,285,730.75 $ 4,128,019.69 $ 433,360.05 Other Investments Local Agency Investment Fund (LAIF) $ 2,042.31 $ 1.64 $ $ 2,043.95 Los Angeles County Investment Pool (LACIP) 6,094,959.89 1,741,762.19 7,836,722.08 Los Angeles County Investment Pool (LACIP) - C,F.D. 1,047,603.00 2,794,58 830,000.00 220,397.58 Subtotal $ 7,144,605.20 $ 1,744,558.41 $ 830,000.00 $ 8,059,163,61 Total Successor Agency $ 9,420,254.19 $ 4,030,289.16 4,958,019.69 $ 8,492,523.66 In June 2015, the Successor Agency received funds from the DOF-approved ROE'S for the July to December 2015 period which will provide sufficient cash flow liquidity to meet estimated expenditures from July to December 2015. West Covina Successor Agency Investment Portfolio Detail October 31, 2015 Issuer/Security Local Agency Investment Fund LAIF - Successor Agency Local Agency Investment Fund Subtotal Los Angeles County Investment Pool LACIP - Successor Agency LACIP - CFD Los Angeles County Investment Pool Subtotal Maturity Book Market Date Yield Value Value N/A 0.36% $ 2,044 $ 2,045 2,044 2,046 N/A 0.77% N/A 0.77% 7,836,722 220,398 8,057,120 7,836,722 220,398 8,057,120 Portfolio Total $ 8,059,164 $ 8,069,165 344,290.00 101,650.00 114,680.87 194.59 $ 560,815.49 $ 344,290.00 101,650.00 114,680.87 194.59 560,815.49 West Covina Successor Agency Bond Detail Report October 31, 2015 Bond / Investment/Issuer / Account Maturity Date Rate Market Value* Original Cost 1988 Lease Revenue Refunding Bonds (The Lakes Public Parking Project) Federated Treasury Obligations Federated Investors Co Reserve 8/1/2018 Original LOC #NZS671159 1CUSiP #S86714370 VVells Fargo L/C Fund 8/112018 S 396,643.71 $ 396,643.71 392.90 392.90 $ 397,036.61 $ 397,036.61 1998 Housing Set-Aside Tax Allocation Bonds Series A & Taxable Series B (Executive Lodget Project) First American Trees Oblig CI d Corp Trust First American Funds, Inc. Bond 9/1/2025 0.03 $ 0.03 Interest Series A 9/1/2025 Interest Series B 9/1/2025 Reserve Series A 9/1/2025 Reserve Series B 9/1/2025 Project Fund Series B 9/1/2025 Principal Account 9/1/2025 1999 Taxable Variable Rate Demand Tax Allocation Bonds First American Tress Oblig CI d Corp Trust First American Funds, Inc. Revenue Fund 1111/2029 Cash L/C Fund 11/1/2029 2001 Housing Set-Aside Tax Allocation Revenue Bonds Cash Special Fund FNMA DISCOUNT NOTE U.S. Tress & Agency Reserve Account 9/1/2031 First American Treas Oblig Cl d Corp Trust First American Funds, Inc. Reserve Account 9/1/2031 Project Fund 9/1/2031 1.00 1 .00 5.27% 799,504.00 779,100.62 336.88 336.88 50.43 50.43 $ 799,891.31 $ 779,487.93 2002 Taxable Variable Rate Lease Revenue Refunding Bonds (Public Facilities Project) First American Treas Oblig Cl d Corp Trust First American Funds, Inc. Special Fund 9/1/2035 $ 15.13 $ 15.13 Reserve Fund 9/1/2035 0.01% 996,532.50 996,532.50 $ 996,547.63 $ 996,547.63 Community Faciiity_ District No. 1989-1 (Fashion Plaza) 1996 Special Tax Refunding Bonds Guaranteed Investment Contract Westdeutsche Landesbank Girozentrale Reserve Fund 9/1/2022 First American Tress Oblig Cl d Corp Trust First American Funds, Inc. Bond 9/1/2022 Rebate Reserve Fund 9/1/2022 7.01% $ 5,002,670.40 $ 5,002,670,40 39,980.00 39,990.00 $ 5,042,650.40 $ 5,042,650.40 GRAND TOTAL $ 7,796,941.44 $ 7,776,539.06 *Market valuations have been provided by BNY Western Trust Company and U.S. Bank