08-21-2012 - Successor Agency Treasurers Report for March 2012 - Item SA1 (2).pdf, A r-)C--)/C,nD
Prepared by: Clara W ng
Interim Finance Direc or
Reviewed pprovel y: Thomas Bachman
Asst. City Manager/Finance Director
City of West Covina
Memorandum
AGENDA
Item No.
Date
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SA TREASURER'S REPORT FOR MARCH 2012
SA1
August 21, 2012
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
Effective January 1, 2006, Section 53646 of the Government Code states that a city's chief
fiscal officer may submit quarterly reports to their legislative body. This report is to include
the type of investment, issuer, date of maturity, par and dollar amount invested on all
securities, investments, and money held by the local agency. It must also include a statement
that the portfolio is in compliance with the City's investment policy, or manner in which it is
not in compliance, and note the ability of the local agency to meet its expenditure
requirements for the next six months, or provide an explanation as to why sufficient money
may not be available.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The March Report shows the Agency's portfolio decreased by $299,626 from $4,814,763 on
February 29, 2012, to $4,515,137 on March 31, 2012. The Agency's surplus funds are in
investment pools with the State of California Local Agency Investment Pool (LAIF) and the
Los Angeles County Investment Pool (LACIP). These funds are completely liquid since the
City could withdraw them at any time. Approximately 51 percent of the portfolio is on
deposit in LACIP and the remaining 49 percent of available cash is on deposit in the
checking account. In addition the Successor Agency has $2,968,138 invested with the City's
pooled cash.
Bond Detail Report:
The March report also includes a Bond Detail Report. This report shows how Fiscal Agents
are investing Successor Agency and Public Financing Authority cash, which they hold to
service various debts. This information is reported to the City Council quarterly.
EARNED INTEREST YIELD THIS PERIOD: 0.810% SIX-MONTH TREASURY BILL YIELD: 0.150%
PREPARED BY:
( A
Clara Wong, Interim Finar Director
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
March 31, 2012
1,483.75
6,544.22
TYPES OF DEPOSITS:
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
SUB-TOTAL
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
LOS ANGELES COUNTY POOL (LACIP)
SUB-TOTAL
TOTAL
February 29
2,492,978.10
2,492,978.10
835.61
2,320,949.72
2,321,785.33
4,814,763.43
WITHDRAWALS
306,170.69
306,170.69
306,170.69
March 31
2,191,867.88
2,191,867.88
835.61
2,322,433.47
4,515,136.96
DEPOSITS
5,060.47
5,060.47
1,483.75
0.00 2,323,269.08
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
It has been verified that this investment portfolio is in conformity with the City of West Covina's investment policy which was approved by the City Council on January 18, 2005.
The investment portfolio plus the recognized obligation payment schedules (ROPS) for January to June of 2012 and July to December of 2012 approved by the State Department of Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of March 31, 2012.
hman, Assistant City Manager/Finance Director
Reserve Series A
Reserve Series A
Reserve Series A
Bond
Bond
Reserve Series B
Reserve Series B
Reserve Series B
First American Funds, Inc.
U.S. Trees & Agency
First American Funds, Inc.
First American Funds, Inc.
U.S. Tress & Agency
First American Trees Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
FHLB
Cash
First American Treas Oblig Cl d Corp Trust
FHLB
Cash
UC Fund
UC Fund
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
GRAND TOTALS 2,337,894.30 2,355,375.98 2,384,417.48
Maturity Date Original Cost Shares/Face Amount Market Value Rate
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
Description of Bond Type of Bond
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
March 31, 2012
Type of Investment Description of Issuer
1.390
1.390
0.03
0.00
0.03
3,774.90
346,987.00
0.00
350,761.90
1,411.00
102,055.00
0.00
103,466.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
569,103.39
0.00
0.00
743.86
743.86
0.00
0.00
0.00
743.86
0.03
0.00
0.03
3,774.90
340,812.60
0.00
344,587.50
1,411.00
100,239.00
0.00
101,650.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
561,112.99
0.00
0.00
743.86
743.86
1.00
0.00
1.00
744.86
0.03
0.00
0.03
3,774.90
340,000.00
0.00
343,774.90
1,411.00
100,000.00
0.00
101,411.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
560,061.39
0.00
0.00
743.86
743.86
1.00
0.00
1.00
744.86
Open
Open
5/30/2014
Open
5/30/2014
Direct Pay LOC #NZS668499
Cash
First American Trees Oblig CI d Corp trust
FHLMC DISCOUNT NOTE
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Government Obligation Fd CL D
FHLB
Cash
Wells Fargo Bank, NA
First American Funds, Inc.
U.S. Trees & Agency
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
U.S. Tress & Agency
10/13/2013
Ending Balances
5.100
Open
Open
1.390
352.88
799,656.00
0.00
800,008.88
50.43
0.00
50.43
800,059.31
0.02
0.00
0.00
0.02
4,166.40
1,010,344.50 •
0.00
1,014,510.90
1,014,510.92
352.88
800,000.00
0.00 -
800,352.88
50.43
0.00
50.43
800,403.31
0.02
0.00
0.00
0.02
4,166.40
990,000.00
0.00
994,166.40
994,166.42
352.88
779,100.62
0.00
779,453.50
50.43
0.00
50.43
779,503.93
0.02
0.00
0.00
0.02
4,166.40
992,366.10
0.00
996,532.50
996,632.52
Open
9/4/2012
Open
Ending Balances
5/30/2014
Ending Balances
Fl
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
Reserve Account
Reserve Account
Reserve Account
Project Fund
Project Fund
Special Fund
Special Fund
Special Fund
Reserve Fund
Reserve Fund
Reserve Fund
*Market valuations have been provided by U.S. Bank Corporate Trust Services
---
Reviewel Approved y: Thomas Bachman
lD30H.-nnnn••
City of West Covina
Memorandum
AGENDA
Item No. SA2
Date August 21, 2012
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SA TREASURER'S REPORT FOR APRIL 2012
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
Effective January 1, 2006, Section 53646 of the Government Code states that a city's chief
fiscal officer may submit quarterly reports to their legislative body. This report is to include
the type of investment, issuer, date of maturity, par and dollar amount invested on all
securities, investments, and money held by the local agency. It must also include a statement
that the portfolio is in compliance with the City's investment policy, or manner in which it is
not in compliance, and note the ability of the local agency to meet its expenditure
requirements for the next six months, or provide an explanation as to why sufficient money
may not be available.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The April Report shows the Agency's portfolio decreased by $135,112 from $4,515,137 on
March 31, 2012, to $4,380,025 on April 30, 2012. The Agency's surplus funds are in
investment pools with the State of California Local Agency Investment Pool (LAIF) and the
Los Angeles County Investment Pool (LACIP). These funds are completely liquid since the
City could withdraw them at any time. Approximately 53 percent of the portfolio is on
deposit in LACIP and the remaining 47 percent of available cash is on deposit in the
checking account. In addition the Successor Agency has $3,063,800 invested with the City's
pooled cash.
/&. 0_ (AD010
Prepared by: Clara Won*,
EARNED INTEREST YIELD THIS PERIOD: 0.810% SIX-MONTH TREASURY BILL YIELD: 0.150%
PREPARED BY:
....41101111111IP
hman, 'ssi ant City Manager/Finance Director
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
April 30, 2012
TYPES OF DEPOSITS:
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
SUB-TOTAL
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
LOS ANGELES COUNTY POOL (LACIP)
SUB-TOTAL
TOTAL
March 31
2,191,867.88
2,191,867.88
835.61
2,322,433.47
2,323,269.08
4,515,136.96
DEPOSITS
4,285.24
4,285.24
1,188.74
1,749.12
2,937.86
7,223.10
WITHDRAWALS
142,335.03
142,335.03
142,335.03
April 30
2,053,818.09
2,053,818.09
2,024.35
2,324,182.59
4,380,025.03
0.00 2,326,206.94
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
It has been verified that this investment portfolio is in conformity with the City of West Covina's investment policy which was approved by the City Council on January 18, 2005.
The investment portfolio plus the recognized obligation payment schedules (ROPS) for January to June of 2012 and July to December of 2012 approved by the State Department of Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of April 30, 2012.
Prepared by: Clara Woikg
Interim Finance Director Asst. City Manager/Finance Director
City of West Covina
Memorandum
AGENDA
SA3
August 21,2012
Item No.
Date
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SA TREASURER'S REPORT FOR MAY 2012
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
Effective January 1, 2006, Section 53646 of the Government Code states that a city's chief
fiscal officer may submit quarterly reports to their legislative body. This report is to include
the type of investment, issuer, date of maturity, par and dollar amount invested on all
securities, investments, and money held by the local agency. It must also include a statement
that the portfolio is in compliance with the City's investment policy, or manner in which it is
not in compliance, and note the ability of the local agency to meet its expenditure
requirements for the next six months, or provide an explanation as to why sufficient money
may not be available.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The May Report shows the Agency's portfolio decreased by $99,300 from $4,380,025 on
April 30, 2012, to $4,280,725 on May 31, 2012. The Agency's surplus funds are in
investment pools with the State of California Local Agency Investment Pool (LAW) and the
Los Angeles County Investment Pool (LACIP). These funds are completely liquid since the
City could withdraw them at any time. Approximately 54 percent of the portfolio is on
deposit in LACIP and the remaining 46 percent of available cash is on deposit in the
checking account. In addition the Successor Agency has $3,109,608 invested with the City's
pooled cash.
PREPARED BY:
– • i; — Clara Wong, Interim Finance Diylector
.4/
111.111"r'rr trii:11,:ton, City Treasurer
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY
May 31, 2012
DEPOSITS
4,352.97
4,352.97
1,402.89
1,402.89
5,755.86
TYPES OF DEPOSITS:
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
SUB-TOTAL
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
LOS ANGELES COUNTY POOL (LACIP)
SUB-TOTAL
TOTAL
April 30
2,053,818.09
2,053,818.09
2,024.35
2,324,182.59
2,326,206.94
4,380,025.03
WITHDRAWALS
105,055.81
105,055.81
105,055.81
May 31
1,953,115.25
1,953,115.25
2,024.35
2,325,585.48
4,280,725.08
0.00 2,327,609.83
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
It has been verified that this investment portfolio is in conformity with the City of West Covina's investment policy which was approved by the City Council on January 18, 2005. •
The investment portfolio plus the recognized obligation payment schedules (ROPS) for January to June of 2012 and July to December of 2012 approved by the State Department of. Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of May 31, 2012.
EARNED INTEREST YIELD THIS PERIOD: 0.760% SIX-MONTH TREASURY BILL YIELD: 0.150%
Reviewed/A-pproved rhomas Bachman
Asst. City Manager/Finance Director
City of West Covina
Memorandum
AGENDA
Item No. SA4
Date August 21, 2012
TO: Andrew G. Pasmant, City Manager
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: SA TREASURER'S REPORT FOR JUNE 2012
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, receive and file this report.
DISCUSSION:
Effective January 1, 2006, Section 53646 of the Government Code states that a city's chief
fiscal officer may submit quarterly reports to their legislative body. This report is to include
the type of investment, issuer, date of maturity, par and dollar amount invested on all
securities, investments, and money held by the local agency. It must also include a statement
that the portfolio is in compliance with the City's investment policy, or manner in which it is
not in compliance, and note the ability of the local agency to meet its expenditure
requirements for the next six months, or provide an explanation as to why sufficient money
may not be available.
Although it is no longer a requirement to submit quarterly reports to the local legislative
body, the Finance Department will continue to submit treasurer's reports to the West Covina
City Council, acting as the Successor Agency to the West Covina Redevelopment Agency on
a monthly basis.
The June Report shows the Agency's portfolio increased by $5,088,501 from $4,280,725 on
May 31, 2012, to $9,369,226 on June 30, 2012. The Agency's surplus funds are in
investment pools with the State of California Local Agency Investment Pool (LAIF) and the
Los Angeles County Investment Pool (LACIP). These funds are completely liquid since the
City could withdraw them at any time. Approximately 99 percent of the portfolio is on
deposit in LACIP and the remaining 1 percent of available cash is on deposit in the checking
account. In addition the Successor Agency has $566,299 invested with the City's pooled
cash.
Bond Detail Report:
The June report also includes a Bond Detail Report. This report shows how Fiscal Agents
are investing Successor Agency and Public Financing Authority cash, which they hold to
service various debts. This information is reported to the City Council quarterly.
UJC-D-t4
Prepa—re-ci by: Clara Wong(
Interim Finance Director
EARNED INTEREST YIELD THIS PERIOD: 0.860% SIX-MONTH TREASURY BILL YIELD: 0.160%
PREPARED BY:
Wiian V. Smiffison, City Treasurer
SUCCESSOR AGENCY
STATEMENT OF TREASURER'S ACCOUNTABILITY'
JUNE 30, 2012
TYPES OF DEPOSITS:
CHECKING ACCOUNTS
WELLS FARGO GENERAL CHECKING
SUB-TOTAL
OTHER INVESTMENTS:
LOCAL AGENCY INVESTMENT FUND (LAIF)
LOS ANGELES COUNTY POOL (LACIP)
May 31 DEPOSITS WITHDRAWALS
June 30
1,953,115.25
1,953,115.25
2,024.35
2,325,585.48
6,683,812.39
6,683,812.39
7,001,107.28
8,596,418.39
8,596,418.39
40,509.25
40,509.25
2,024.35
9,326,692.76
SUB-TOTAL 2,327,609.83 7,001,107.28 0.00 9,328,717.11
TOTAL 4,280,725.08 13,684,919.67 8,596,418.39 9,369,226.36
*NEGATIVE BALANCE REFLECTS OUTSTANDING CHECKS
It has been verified that this investment portfolio is in conformity with the City of West Covina's investment policy which was approved by the City Council on January 18, 2005.
The investment portfolio plus the recognized obligation payment schedules (ROPS) for January. to June of 2012 and July to December of 2012 approved by the State Department of Finance on July 9, 2012
provide sufficient cash flow liquidity to meet estimated expenditures for the next six months. This report is accurate with respect to all information received as of June 30, 2012.
'Market valuations have been provided by U.S. Bank Corporate Trust Services GRAND TOTALS 2,347,303.61 2,364,785.29 2,392,685.99
Type of Bond
WEST COVINA SUCCESSOR AGENCY
BOND DETAIL REPORT
June 30, 2012
Description of Issuer Type of Investment
UC Fund
L/C Fund
Direct Pay LOC #NZS668499
Cash
Wells Fargo Bank, NA
Reserve Account
Reserve Account
Reserve Account
Project Fund
Project Fund
First American Funds, Inc.
U.S. Tress & Agency
First American Funds, Inc.
First American Trees Oblig Cl d Corp Trust
FHLMC DISCOUNT NOTE
Cash
• First American Tress Oblig Cl d Corp Trust
Cash
Special Fund
Special Fund
Special Fund
First American Trees Oblig Cl d Corp Trust
Cash
First American Funds, Inc.
Reserve Fund
Reserve Fund
Reserve Fund
First American Government Obligation Fd CL D
FHLB
Cash
First American Funds, Inc.
U.S. Tress & Agency
Bond
Bond
Interest Series A
Interest Series A
Interest Series B
Interest Series B
Reserve Series A
Reserve Series A
Reserve Series A
Reserve Series B
Reserve Series B
Reserve Series B
Project Fund Series B
Project Fund Series B
Principal Account
Principal Account
First American Tress Oblig Cl d Corp Trust
Cash
First American Treas Oblig Cl d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
FHLB
Cash
First American Tress Oblig Cl d Corp Trust
FHLB
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Tress Oblig Cl d Corp Trust
Cash
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
First American Funds, Inc.
U.S. Tress & Agency
First American Funds, Inc.
U.S. Tress & Agency
First American Funds, Inc.
First American Funds, Inc.
Description of Bond
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1998 Housing Set-Aside Bonds Series A, B
1999 Tax Allocation Bonds
1999 Tax Allocation Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2001 RDA Housing Set-Aside T/A Rev Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
2002 RDA T/A Revenue Refunding Bonds
Maturity Date Original Cost Shares/Face Amount Market Value Rate
1.390
1.390
3,774.90
346,660.60
0.00
350,435.50
1,411.00
101,959.00
0.00
103,370.00
5.100
352.88
799,888.00
0.00
800,240.88
0.03
0.00
0.03
2,414.00
0.00
2,414.00
710.00
0.00
710.00
3,774.90
340,812.60
0.00
344,587.50
1,411.00
100,239.00
0.00
101,650.00
114,680.87
0.00 ru-Rircru
• 194.59
0.00
564,236.99
1.00
0.00
1.00
0.03
0.00
2,414.00
0.00
2,414.00
710.00
0.00
710.00
114,680.87
0.00
114,680.87
194.59
0.00
571,804.99
0.00
0.00
0.00
0.00 Ending Balances
. Open
9/4/2012
Open
Ending Balances
Open
Open
5/30/2014
Ending Balances
1.00
352.88
779,100.62
0.00
779,453.50
50.43
0.00
50.43
779,503.93
7,029.19
0.00
0.00
7,029.19
4,166.40
992,366.10
0.00
996,532.50
1,003,561.69
0.03
0.00
2,414.00
0.00
2,414.00
710.00
0.00
710.00
3,774.90
340,000.00
0.00
343,774.90
1,411.00
100,000.00
0.00
101,411.00
114,680.87
0.00
114,680.87
194.59
0.00
194.59
563,185.39
1.00
0.00
1.00
1.00
352.88
800,000.00
0.00
800,352.88
50.43
0.00
50.43
800,403.31
7,029.19
0.00
0.00
7,029.19
4,166.40
990,000.00
0.00
994,166.40
1,001,195.59
50.43
0.00
50.43
800,291.31
7,029.19
0.00
0.00
7,029.19
4,166.40
1,009,394.10
0.00
1,013,560.50
1,020,589.69
1.390
Open
Open
Open
Open
5/30/2014
Open
5/30/2014
Open
Open
Ending Balances
10/13/2013
City of West Covina
Memorandum
AGENDA
Item: SA-5
TO: Andrew G. Pasmant, City Manager Date: August 21, 2012
and City Council
FROM: Thomas Bachman
Assistant City Manager/Finance Director
SUBJECT: APPROVAL AND TRANSMITTAL OF A REVISED
ADMINISTRATIVE BUDGET FOR THE SUCCESSOR AGENCY
TO THE WEST COVINA REDEVELOPMENT AGENCY, AND A
REVISED SCHEDULE OF DISTRIBUTION OF FUTURE TAX
REVENUES (RECOGNIZED OBLIGATIONS PAYMENT
SCHEDULES "ROPS") PURSUANT . TO AB1X - 26 FOR THE
PERIOD OF JANUARY 1 — JUNE 30, 2013
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency to the West Covina
Redevelopment Agency, adopt the attached resolution:
RESOLUTION NO. A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF WEST COVINA, ACTING AS
SUCCESSOR AGENCY TO THE WEST COVINA REDEVELOPMENT
AGENCY APPROVING AND AUTHORIZING THE TRANSMITTAL
OF AN ADMINISTRATTVE BUDGET FOR THE SUCCESSOR
AGENCY TO THE WEST COVINA REDEVELOPMENT AGENCY,
AND SCHEDULES OF DISTRIBUTION OF FUTURE TAX
REVENUES (RECOGNIZED OBLIGATIONS PAYMENT
SCHEDULES "ROPS") FOR THE PERIOD JANUARY 1 — JUNE 30,
2013, PURSUANT TO ASSEMBLY BILL 1X 26 (AB1X 26)
DISCUSSION:
The Successor Agency is required to file a Schedule of Distribution of Future Tax
Revenues "ROPS" schedule every six months in order to receive a distribution of
property tax increment dollars with which to fund the obligations of the former
redevelopment agency. These obligations include bond debt service payments, amounts
due under existing agreements with commercial property owners, repayment of amounts
borrowed from the Housing Fund to fund property tax shifts mandated by the state, cost
of litigation to protect assets of the former redevelopment agency, repayment of loans to
the City, and administrative costs of the successor agency to wind down the affairs of the
former redevelopment agency. While many of these listed items are not necessarily debt,
they are considered obligations for purposes of this mandated report and must be listed on
this report if they are to be funded with distributions of future tax increment dollars.
These items are not debt obligations of the City of West Covina.
The ROPS schedule (Attachment 2) lists all amounts that will be paid in the period
January 1 through June 30, 2013. Once approved by the Successor Agency, the ROPS
must then be approved by the seven-member Successor Agency Oversight Board. The
ROPS will be presented to the Oversight Board at their scheduled meeting on August 2,
2012. Once the ROPS is approved by the Oversight Board, it then must be sent to the
State Department of Finance "DOF" by September 1, 2012. DOF holds final approval
authority of the items listed on the ROPS and directs the Los Angeles County Auditor-
Controller on which items to distribute tax increment funds for to the Successor Agency.
The Successor Agency is also required to adopt an administrative budget for each
upcoming six-month period. Attachment 3 to this report is the administrative budget for
the Successor Agency for the period of January — June 2013. The January — June
administrative budget is 1/2 of the fiscal year 2012-13 annual projected costs. This
budget is to be funded by the administrative allowance, which is equal to an amount,
which is the greater of 3% of the enforceable obligations, or $250,000 annually. Any
administrative costs above this administrative allowance will be absorbed by the City.
The Successor Agency previously approved a ROPS for the January — June 2013 period
at their August 1, 2012, meeting that was submitted to the Oversight Board on August 2,
2012. The Oversight Board discussed the ROPS but did not take action on it and instead
held it over until its next meeting, which is scheduled for August 23, 2012. The attached
ROPS is now presented on the updated DOF form, which was not available when the
previous version was approved by the Successor Agency. This ROPS contains the same
items as the previous version, although some amounts have been changed to reflect
updated assumptions. The new DOF form also now contains a reconciliation of the
January — June 2012 ROPS, which compares actual to estimates, and a summary and
notes pages.
The ROPS also includes a change to the terms of the loan from the former redevelopment
agency to Los Angeles County. Currently, the outstanding is estimated to by $8,274,862.
The loan is repaid via a formula based on the amount of tax increment collected in the
Eastland Amendment Project Area and accrues interest at 7%. Based on that formula and
interest rate, the projected repayment is estimated at $1.35 million in the current fiscal
and grows to about $1.55 million before being finally repaid in 2019-20. The proposed
change on the attached ROPS would set the repayment over an eight-year period with
equal principal payments of $1,034,358 each year and interest accruals paid at the
investment earnings rate of the Local Agency Investment Fund (LAIF). The LAIF rate
was selected because that is consistent with the rate for repayment. to cities of loans to
former redevelopment agencies that was established by AB 1484. This proposed change
in terms would save the Successor almost $300,000 in the first year and over $2 million
over the eight-year term, which amount would then be distributed to the taxing entities
including the City and the county.
Finally, the ROPS include items that were previously denied by the Department of
Finance. AB 1484 specifically identifies litigation costs related to former redevelopment
agency claims, judgments and assets, and legal costs and contractual agreements
necessary for the wind down of the former redevelopment agency, as enforceable
obligations. Additionally, recent guidance from DOF states that "agencies requesting
reconsideration of previously denied obligations may include them in the January through
June 2013 period ROPS." As a result, lines 30 — 39 on the attached ROPS include
amounts for litigation and legal expenses that were denied on the February — June period
ROPS and the July— December 2012 period ROPS. Lines 40 - 43 include City loans that
were denied by DOF on prior ROPS and which have been appealed to DOF by the City.
The total of all items submitted on this ROPS is $8,632,313, which includes items
submitted for reconsideration from previous ROPS in the amount of $3,142,565 and
$5,489,748 for current period (January — June 2013) ROPS. The Successor Agency
Administrative Budget is also attached for approval. This budget contains the specific
items that are included in the administrative budget on line 12 of the ROPS.
FISCAL IMPACT:
The City, as successor agency, cannot receive or spend any funds unless the amounts are
listed on a Recognized Obligations Payment Schedule. This schedule identifies all
outstanding obligations that must be satisfied before the Agency can be dissolved. The
obligations listed on this schedule will receive property tax allocations distributed by the
county as their funding source.
If the City's administrative costs exceed the administrative allowance, that amount will
have to be absorbed by the City.
Preparecrby: Tom Bachman
Assistant City Manager/Finance Director
Attachments: No. 1 — Resolution
No. 2 — Recognized Obligation Payment Schedule (ROPS
No. 3— Successor Agency Administrative Budget
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA, ACTING AS SUCCESSOR AGENCY TO THE
WEST COVINA REDEVELOPMENT AGENCY APPROVING AND
AUTHORIZING THE TRANSMITTAL OF AN ADMINISTRATIVE
• BUDGET FOR THE SUCCESSOR AGENCY TO THE WEST
COVINA REDEVELOPMENT AGENCY, AND SCHEDULES OF
DISTRIBUTION OF FUTURE TAX REVENUES (RECOGNIZED
OBLIGATIONS PAYMENT SCHEDULES "ROPS") FOR THE
PERIOD JANUARY 1 — JUNE 30, 2013, PURSUANT TO
ASSEMBLY BILL 1X 26 (AB1X 26)
WHEREAS, the Community Development Commission of the City of West
Covina ("Commission") is a community development commission organized and
existing under and pursuant to the California Community Development Commission Law
(Part 1.7 of Division 24, commencing with Section 34100, of the Health and Safety Code
of the State of California) (the "CDCL"); and
WHEREAS, the City Council of the City of West Covina ("City") approved and
adopted the Redevelopment Plans for the following Redevelopment Projects
("Redevelopment Plans") covering certain properties within the City (the "Project
Areas"):
1. On December 20, 1971 the West Covina City Council adopted the original
Central Business District Redevelopment Project Area by adoption of Ordinance No.
1180.
2. On July 14, 1975 the West Covina City Council adopted the original Eastland
Redevelopment Project Area by adoption of Ordinance No. 1269.
3. On December 21, 1993 the West Covina City Council approved the Merger of
the Central Business District and the Eastland Redevelopment Project Areas by adoption
of Ordinance No. 1927 and Ordinance No. 1928, which adopted the merged area as the
West Covina Redevelopment Project Area and added three non-contiguous areas to the
merged project area; and
WHEREAS, as part of the 2011-12 State budget bill, the California Legislature
has enacted and the Governor has signed, companion bills AB 1X 26 and AB 1X 27,
requiring that each redevelopment agency be dissolved unless the community that created
it enacts a resolution committing it to making certain payments; and
WHEREAS, specifically, AB 1X 26 prohibits agencies from taking numerous
actions, effective immediately and purportedly retroactively, and additionally provides
that agencies are deemed to be dissolved as of October 1, 2011; and
WHEREAS, additionally, AB 1X 26 which eliminates redevelopment agencies
also requires all Agencies to wind-down their affairs unless the Agencies are extended
through compliance with the requirements of AB 1X 27; and
WHEREAS, the California Supreme Court on August 11, 2011 issued a partial
stay ("Stay") on the operative effects of ABX1 26 in the case of California
Redevelopment Association, et al. v. Ana Matsonantos, et al. Case No. S194861.
WHEREAS, on December 29, 2011, the California Supreme Court upheld AB1X
26, which dissolved all of the redevelopment agencies in the State of California as of
February 1, 2012, and struck down AB1X 27; and
WHEREAS, at a meeting of January 10, 2012, the City of West Covina took
action to designate itself as the Successor Agency and the Community Development
Commission as the Housing Successor Agency, as provided in California Health and
Safety Code §§ 34173 and 34176; and
WHEREAS, Health and Safety Code Section 34169(h), which is set forth in Part
1.8, requires a Successor Agency to prepare and submit an approved Recognized
Obligation Payment Schedule for the period from January 1, 2013 to June 30, 2013 to the
• State Department of Finance by September 1, 2012, which must list the minimum
amounts that must be paid by the successor agency over that six (6) month period to
fulfill its enforceable obligations during that period; and
WHEREAS, the West Covina City Council, acting as Successor Agency to the
West Covina Redevelopment Agency, reserves the right to appeal any determination of
the California Director of Finance or other entity regarding the propriety of this
resolution as well as any future determinations; and
WHEREAS, while the West Covina City Council, acting as Successor 'Agency to
the West Covina Redevelopment Agency, currently intends to comply with the state-
mandated obligations established hereunder; and
WHEREAS, all other legal prerequisites to the adoption of this resolution have
occurred.
NOW, THEREFORE, BE IT RESOLVED by the West Covina City Council,
acting as Successor Agency to the West Covina Redevelopment Agency, as follows:
SECTION 1. The foregoing Recitals are incorporated into this Resolution by this
reference, and constitute a material part of this Resolution.
SECTION 2. The Schedule of Distribution of Future Tax Revenues (Recognized
Obligations Payment Schedule "ROPS") attached hereto as Attachment "2" is approved
and the City Manager is authorized to transmit the same to the Los Angeles County
Auditor-Controller, the State Controller and the State Department of Finance in
accordance with Health and Safety Code Section 34169 subject to all reservations of
rights and contingencies set forth above.
SECTION 3. The Administrative Budgets for the Successor for the six-month
period January — June 2013, attached hereto as Attachment "3" is approved and the City
Manager is authorized to transmit the same to the Los Angeles County Auditor-
Controller, the State Controller and the State Department of Finance in accordance with
Health and Safety Code Section 34169 subject to all reservations of rights and
contingencies set forth above.
SECTION 5. The City Manager or designee is authorized to take all actions
necessary to implement this Resolution, including without limitation, the posting of this
Resolution and the Recognized Obligation Payment Schedule on the City's website, and
the provision of notice of adoption of this Resolution and such Schedule to the County
Auditor-Controller, the State Controller and the State Department of Finance.
SECTION 6. The City Clerk shall certify as to the passage and adoption of this
Resolution, and it shall thereupon take effect and be in full force, except that this
Resolution shall not be effective during any period of time that the Stay remains
effective.
• APPROVED AND ADOPTED at a regular meeting of the City Council of the
City of West Covina this 21 st day of August 2012.
Mayor Mike Touhey
ATTEST:
Assistant City Clerk Susan Rush
I SUSAN RUSH, ASSISTANT CITY CLERK, of the City of West Covina do hereby
certify that the foregoing resolution was duly adopted by the West Covina City Council,
acting as Successor Agency to the West Covina Redevelopment Agency, at a meeting
thereof held on the 21 st day of August 2012, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Assistant City Clerk Susan Rush
APPROVED AS TO FORM:
City Attorney
Name of Successor Agency: City of West Covina Successor Agency County: Los Angeles Oversight Board Approval Date: RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS III) January 1, 2013 through June 30, 2013 Item # . Project Name / Debt Obligation Contract/Agreement Execution Date Contract/Agreement Termination Date Payee • Description/Project Scope Proiect Area Total Outstanding Debt or Obligation Total Due During Fiscal Year 201 2-1 3 Funding Source . •LMIHF Bond Proceeds Reserve Balance Admin Allowance RPTTF Other Six-Month Total 5 350,165,823 $ 18,286,674 6 258,969 5 8,632,313 $ 1,013,340 5 9,904,622 1999 Tax Allocation Bonds 11/1/1999 11/1/2029 US Bank Fund capital projects in Merged Area Merged 5,622,275 208,600 36,600 36,600 2 2002 Tax Allocation Bonds 6/1/2002 9/1/2022 US Bank Refund outstanding 1993 bonds Merged 11,371,110 989,272 211,536 211,536 2006 Lease Revenues Bonds 9/19/2006 6/1/2036 City of West Covina Reimburse City for BLD Debt Service Merg/Citywide 29,119,269 1,126,990 563,490 - 563,490 4 1998 Housing Set Aside Bonds 4/1/1998 9/1/2025 US Bank Acquisition and rehab of a housing proj Merged 5,737,595 438,907 115,179 115,179 5 2001 Housing Set Aside Bonds 12/1/2001 9/1/2030 US Bank Development of a senior housing proj Merged 10,779,345 767,935 183,218 183,218 6 SERAF 2010 Housing Loan 2/16/2010 6/30/2015 Housing Successor Agency Repay SERAF to the housing fund Merged 4,080,818 - - 7 SERAF 2011 Housing Loan 1/18/2011 6/30/2016 Housing Successor Agency Repay SERAF to the housing fund Merged 943,085 _ - 8 DDA - The Lakes 6/26/1987 6/30/2038 Various Allocated bond costs & maint for park structure Merged 1,440,000 215,000 60,000 60,000 9 CFD Tax Increment Pledge 6/26/1989 9/1/2022 Fashion Plaza CFD Tax Increment pledged fto CFD Merged 15,846,352 1,840,000 1,840,000 1,840,000 10 CSS - CFD 10/19/2004 10/19/1954 Coastal Sage Scurb CFD CFD Assessment Merged 4,656,641 74,837 37,418 37,418 11 Repay County Loan 6/19/1990 8/20/2021 County of Los Angeles Repay Loan of Defered Tax Increment Merged 8,626,543 1,908,553 558,553 . 558,553 12 SA Adminstrative Budget ongoing ongoing Various Operations for both prblect areas Merged 16,520,339 484,361 258,969 258,969 13 Anticipated/Existing Litigation 3/16/2006 ongoing Squire Sanders & Dempsey Enforcement of judgments/obligations Merged 3,456,434 600,000 600,000 600,000' 14 Anticipated/Existing Litigation ongoing Alvarez-Glasman Colvin Enforcement of judgments/obligations Merged 150,000 40,000 40,000 40,000 15 Anticipated/Existing Litigation ongoing Eminent Domain Law Group RDA property litigation Merged 300,000 50,000 50,000 50,000 16 Anticipated/Existing Litigation ongoing Hunsucker Goldstien RDA property litigation Merged 100,000 25,000 25,000 - 25,000 17 Project Administrative Costs ongoing • ongoing Various Project specific related costs Merged ' 350,000 70,000 35,000 35,000 18 AB 1484 Auditing Fees TBD ongoing White Nelson Diehl Evans AB 1464 Auditing Fees Merged 297,500 35,000 35,000 35,000 19 Oversight Board Legal Services TBD ongoing TED Oversight Board Legal Services Merged 50,000 20,000 20,000 20,000 20 Successor Agency Legal Services ongoing Alvarez-Glasman Colvin Successor Agency Legal Services Merged 300,000 60,000 30,000 30,000 21 Property Management Plan TED TED TBD Long-Range Property Management Plan per AB 1484 Merged 184,600 184,600 184,600 184,600 22 City Note - Administration 8/9/1971 6/30/2025 City of West Covina Repay City for admin & construction Merged 12,859,463 730,744 730,744 730,744' 23 City Note - CIP 2/28/1972 6/30/2025 City of West Covina Repay City for capital projects Merged 2,252,898 133,410 133,410 133,410 24 City Note Revolving 12/16/1985 6/30/2025 City of West Covina Repay City for revolving credit Merged 4,824,791 - - 25 Sales Tax Reimbursement 7/25/2005 6/30/2025 City of West Covina Reimburse City for CFD Sales Tax Merged 22,856,769 - - 26 Golf Course Agreement 6/21/2011 ongoing Various Golf Course Implementation Agreement Merged 45,000,000 - 27 1996 CFD Refunding Bonds 7/1/1996 9/1/2022 US Bank Fund Fashion Plaza Improvements Merged 44,687,400 3,774,000 975,600 975,600 28 1988 Lease Rev Refunding Bonds 8/1/1988 8/1/2018 Wells Fargo Bank Fund Lakes Parking Project Merged 3,915,885 461,900 37,740 37,740' 29 OPA - CFD 6/26/1989 9/1/2022 Westfield Corporation CFD admin and developer repayment Merged 93,836,711 885,000 - PREVIOUSLY DENIED OBLIGATIONS SUBMITTED FOR RECONSIDERATION 30 Anticipated/Existing Litigation 3/16/2006 ongoing Squire Sanders & Dempsey Enforcement of judgments/obligations Feb-Jun 2012 Merged see #13 above 600,000 _ 600,000 600,000 31 Anticipated/Existing Litigation 3/16/2006 ongoing Squire Sanders & Dempsey Enforcement of judgments/obligations Jul-Dec 2012 Merged see #13 above 600,000 600,000 600,000 32 Anticipated/Existing Litigation 3/16/2006 ongoing Alvarez-Glasman Colvin Enforcement of judgments/obligations Feb-Jun 2012 • Merged see #14 above 22,204 22,204 22,204 33 Anticipated/Existing Litigation 3/16/2006 ongoing Alvarez-Glasman Colvin Enforcement of judgments/obligations Jul-Dec 2012 Merged see #14 above 35,000 35,000 ' .;.:<:35;000 34 Anticipated/Existing Litigation ongoing Eminent Domain Law Group RDA property litigation: Feb-Jun 2012 Merged see #15 above 7,946 7,946 7,946 35 Anticipated/Existing Litigation ongoing Eminent Domain Law Group RDA property litigation: Jul-Dec 2012 Merged see #15 above 50,000 50,000 50,000 36 Anticipated/Existing Litigation ongoing Hunsucker Goldstien RDA property litigation: Feb-Jun 2012 Merged see #16 above 7,161 7,161 7,161 37 Anticipated/Existing Litigation ongoing Hunsucker Goldstien RDA property litigation: Jul-Dec 2012 Merged see #16 above 25,000 25,000 25,000 38 Successor Agency Legal Services ongoing Alvarez-Glasman Colvin* Successor Agency Legal Services: Feb-Jun 2012 Merged see #20 above 36,946 36,946 36,946 39 Successor Agency Legal Services ongoing Alvarez-Glasman Colvin Successor Agency Legal Services: Jul-Dec 2012 Merged see #20 above 30,000 30,000 30,000 40 City Note - Administration 8/9/1971 6/30/2025 City of West Covina Repay City for admin & construction: Feb-Jun 2012 ' Merged see #22 above' 730,744 730,744 730,744 41 City Note -Administration 8/9/1971 6/30/2025 City of West Covina Repay City for admin & construction: Jul-Dec 2012 Merged see #22 above 730,744 730,744 730,744 42 City Note - CIP 2/28/1972 6/30/2025 City of West Covina Repay City for capital projects: Feb-Jun 2012 Merged see #23 above 133,410 ' 133,410 133,410 43 City Note - CIP 2/28/1972 6/30/2025 City of West Covina Repay City for capital projects: Jul Dec 2012 Merged see #23 above 133,410 133,410 133,410
Attachment 3
Successor Agency to the West Covina Redevelopment Agency
Administrative Budget
Used for Jan. - June 2013 ROPS
Jan - June
2013
Salaries & Benefits
M & 0 from CDC Staff:
Appraisals
Escrow & Title
Consultants
Copying
Subtotal
Other M & 0 costs not included above:
A & 0
Liability Insurance
Phone •
Cell Phone
Pooled Car usage
Fuel
Vehicle Maintenance
Subtotal
Total Non-Personnel Costs
166,740
10,000
12,500
7,500
1,250
31,250
32,467
8,400
454
360
120
990
1,400
44,191
75,441
Total Budget 242,181
ROPS 2013 Jan-JuneAdmin Budget8/16/2012
City of West Covina
Memorandum
AGENDA
ITEM.NO . SA6
DATE August 21, 2012
TO: Andrew G. Pasmant, Executive Director and the Successor Agency of the West
Covina Redevelopment Agency
FROM: Christopher J. Chung
Community Development Commission Director
SUBJECT: APPROVAL OF LEGAL SERVICES FOR THE WEST COVINA
OVERSIGHT BOARD
RECOMMENDATION:
It is recommended that the City Council acting as the Successor Agency of the West Covina
Redevelopment Agency adopt the following resolution:
RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF WEST COVINA, ACTING AS THE SUCCESSOR AGENCY TO
THE WEST COVINA REDEVELOPMENT AGENCY, ACCEPTING THE
ACTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY TO
THE WEST COVINA REDEVELOPMENT AGENCY APPROVING A
RETAINER AGREEMENT WITH THE LAW FIRM OF HARPER & BURNS TO
PROVIDE GENERAL COUNSEL SERVICE FOR THE OVERSIGHT BOARD
TO THE SUCCESSOR AGENCY OF THE WEST COVINA REDEVELOPMENT
AGENCY
DISCUSSION:
Due to the nature of business of the Oversight Board and their function as authorized under AB
1X 26 and AB 1484, the City Council acting as the Successor Agency of the West Covina
Redevelopment Agency is to consider the approval of a resolution (Attachment No. 1) accepting
the recommendation of the Oversight Board Ad Hoc Committee ("Ad Hoc Committee") and
approving the "Agreement For Attorney Services" (Attachment No. 2) with the Law Offices of
Harper and Burns, LLP to provide general counsel services for the Oversight Board. Such
general counsel shall be independent from legal services that the Successor Agency receives
from its City Attorney.
At the direction of the Oversight Board to the Successor Agency of the West Covina
Redevelopment Agency ("Oversight Board"), Successor Agency staff released a Request For
Qualifications ("RFQ") for legal services to represent the Oversight Board. Chairperson Carrie
Sutkin, Vice-Chairperson Mike Touhey and Board Member Mike Lee were selected to serve on
an Ad Hoc Committee to review the RFQ responses and to interview the selected law firms.
At the August 2, 2012 Oversight Board meeting, staff presented the five (5) proposals that were
received and the Oversight Board directed the Ad Hoc Committee to proceed with review of
proposals and interview of selected law firms. Ad Hoc Committee invited two (2) law firms,
Colantuno & Levin, PC and the Law Offices of Harper and Bums, LLP to be interviewed on
August 8, 2012. Carrie &Akin was unable to attend the August 8, 2012 interviews and Oversight
Board Member Michael Gregoryk served as a replacement. The Ad Hoc Committee selected the
Law Offices of Harper and Burns, LLP to represent the Oversight Board based on hourly rate
(lowest), experience and no known conflict of interest (has not worked for County of LA, State,
affected taxing entities or the City).
The proposal from the Law Offices of Harper and Burns, LLP is attached as Attachment No. 3
and a matrix of all proposals submitted is attached as Attachment No. 4.
legal services agreement
Andrew G. Pasmant, City Manager and the City Council
August 21, 2012
The retention of the law firm for the Oversight Board is also subject to the approval (by City,
Successor Agency and Oversight Board) of a Cooperation Agreement between the City and
Successor Agency and inclusion of the Cooperation Agreement and Oversight Board Legal
Services within the Recognized Obligation Payment Schedule ("ROPS"). As the ROPS for this
fiscal year have already been approved and the Department of Finance is not allowing any
revisions, a Cooperation Agreement is needed to provide a loan from the City to the Successor
Agency whereby the City will advance payments to the Successor Agency for legal services for
July 2012 to December 2012 to be reimbursed under the Recognized Obligation Payment
Schedule for January 1, 2013 to June 2013.
FISCAL IMPACT:
The cost for general counsel for the Oversight Board will be an obligation of the former
redevelopment agency and is reflected in the revised Recognized Obligation Payment Schedule
for January 1, 2013 to June 2013 for an estimated annual cost of $10,000 and the Successor
Agency will need to recover any expenditures advanced for the next 6 months as part of a
reimbursement (Cooperation Agreement). The Agreement is based on an agreeable hourly rate
of $175 per hour in minimum increments of 15 minutes. Attendance at Oversight Board
meetings shall be billed at actual time or a minimum of two (2) hours, whichever is greater.
Approved by: Ciliristoper J. Chung
CDC Director
Approved via telephone
Reviewed/Approved by: Arnold M. Alvarez-Glasman
General Counsel to Successor Agency
Attachments:
Attachment No. 1 — Resolution
Exhibit "A" — Agreement for Attorney Services
Attachment No. 2— Harper and Burn, LLP Proposal responding to RFQ
Attachment No. 3 — Matrix of propoSals submitted.
ATTACHMENT NO 1
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA, ACTING AS THE SUCCESSOR AGENCY TO THE WEST
COVINA REDEVELOPMENT AGENCY, ACCEPTING THE ACTION OF
THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY TO THE
WEST COVINA REDEVELOPMENT AGENCY APPROVING A
RETAINER AGREEMENT WITH THE LAW FIRM OF HARPER &
BURNS TO PROVIDE GENERAL COUNSEL SERVICE FOR THE
OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE WEST
COVINA REDEVELOPMENT AGENCY
WHEREAS, the City Council of the City of West Covina ("City") previously approved
and adopted Redevelopment Plans for the various Redevelopment Project Areas
("Redevelopment Plans") covering certain properties within the City (the "Project Areas"); and
WHEREAS, as part of the 2011-12 State budget bill, The California Legislature enacted,
and the Governor signed, AB 1X 26 requiring that each redevelopment agency be dissolved; and
WHEREAS, the City Council of the City of West Covina adopted the necessary
resolutions electing to become the Successor Agency to the former Redevelopment Agency
(Community Development Commission) of the City of West Covina ("Successor Agency")
pursuant to Health and Safety Code sections 34171 and 34173; and
WHEREAS, AB 1X 26 provides that each Successor Agency shall have and Oversight
Board and the Oversight Board to the Successor Agency of the West Covina Redevelopment
Agency ("Oversight Board").has requested the services of independent legal counsel; and
WHEREAS, after following a process which involved the request and submission of
responses to Requests for Proposals ("RFP") by various law firms, interviews by a selection sub-
committee, and recommendation by the sub-committee to the Oversight Board, the Oversight
Board selected the law firm of Harper & Burns, LLP, to serve as General Counsel and
WHEREAS, in order for the payment of legal fees to occur, the Successor Agency must
ratify the acceptance of the Agreement for Legal Services as set forth below.
NOW, THEREFORE, BE IT RESOLVED by the Successor Agency of the West
Covina Redevelopment Agency, as follows:
SECTION 1. The foregoing recitals are incorporated into this Resolution by this
reference and constitute a material part of this Resolution.
SECTION 2. The Successor Agency of the City of West Covina hereby ratifies, accepts
and approves the Agreement for Legal Services with the law firm of Harper & Burns, LLP in
substantially the form attached hereto as Exhibit "A".
SECTION 3. The Mayor of the City of West Covina serving as the Chairperson to the
Successor agency is authorized to execute the Agreement for Legal Services.
SECTION 4. The City Clerk as the Secretary to the Successor Agency shall certify to the
approval and adoption of this Resolution, and it shall thereupon take effect and be in full force.
APPROVED AND ADOPTED on this 21 st day of August, 2012.
Mayor Michael Touhey
ATTEST:
City Clerk Laurie Carrico
I, LAURIE CARRICO, CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly adopted by the City Council of the City of West Covina,
California, at a regular meeting held thereof on the 17 th day of July, 2012 by the following vote
of the City Council:
AYES:
NOES:
ABSENT:
ABSTAIN:
City Clerk Laurie Carrico
APPROVED AS TO FORM:
City Attorney Arnold Alvarez-Glasman
Exhibit "A"
AGREEMENT FOR ATTORNEY SERVICES
THIS AGREEMENT is made and entered into this day of August, 2012, by
and between the CITY OF WEST COVINA, a municipal corporation, Los Angeles County,
California, (the "City") on behalf of the OVERSIGHT BOARD TO THE SUCCESSOR
AGENCY OF THE WEST COVINA REDEVELOPMENT AGENCY (the "Oversight Board"),
and HARPER & BURNS LLP, Orange, California (the "Attorney").
RECITALS
WHEREAS, the City desires to employ Attorney to perform legal services for the
Oversight Board to the Successor Agency of the West Covina Redevelopment Agency (the
"Oversight Board"); and
WHEREAS, the Attorney is prepared and able to provide all legal services required and
necessary to perform the duties and fulfill the obligations of the Attorney for the Oversight
Board; and,
COVENANTS
NOW, THEREFORE, it is mutually agreed by the Parties hereto as follows:
SECTION 1. AGREEMENT FOR SERVICES. The City employs Attorney to render
and Attorney agrees to render all legal services for the Oversight Board pursuant to the
provisions of this Agreement.
SECTION 2. SCOPE OF SERVICES. The Attorney will perform and fulfill all duties
and obligations including, but not limited to:
(a) Advise the Oversight Board on legal authority and liability for actions taken in the
ordinary course of business;
(b) Advise the Oversight Board on actions necessary to protect the Board members
from personal liability and protect the assets of the dissolved agency from liability and
attachment;
(c) Review and advise the Board on recommendations from City/Successor Agency
on refinancing matters, overseeing completion of redevelopment projects, and disposition of
property and other assets;
(d) Provide advice on legislative matters which may affect the Board (exclusive
lobbying);
(e) Represent the Board in connection with any inquiry, investigation, audit or other
proceedings of state regulatory agencies;
(f) Represent the Board in any litigation brought by or against or otherwise involving
the Board, or assist the Board in contracting for specialized litigation counsel and overseeing
outside counsel's work; and
(g) Engage in any other legal matters reasonably requested by the Board.
SECTION 4. ASSIGNED ATTORNEYS. John Harper is hereby designated as the
Attorney for the Oversight Board. All communication with the Attorney and work assignment to
the Attorney by the Oversight Board shall be through the Executive Director's/City Manager's
office, or as otherwise provided for in the Oversight Board's Bylaws and Rules of Procedures. It
is the intention of the Parties that Mr. Harper will perform all the required duties on an as-needed
basis. Attorney Colin Burns may be assigned to perform services if necessary as a result of a
scheduling conflict.
SECTION 5. COMPENSATION. All general services shall be provided by the
Attorney at the rate of $175.00 per hour payable on a monthly basis. Attendance at the Oversight
Board meetings shall be compensated on an actual time basis, with a minimum billing of two (2)
hours. Travel time shall not be billed. The annual cap of services is $10,000 per annum, unless
amended by Oversight Board and Attorney.
SECTION 6. TERM. The Attorney shall serve at the pleasure of the Oversight Board
and this Agreement may be terminated with or without cause upon written notice by the City
Council acting on behalf of the Oversight Board.
SECTION 7. INSURANCE. As a. condition to execution of this Agreement, the
Attorney will deliver to the City evidence of professional liability and malpractice insurance
from a reputable insurance carrier in the amount of $1 million dollars. The Attorney further
agrees to maintain such insurance at all times during the term of this Agreement.
SECTION 8. AMENDMENT. This Agreement may be amended from time to time in
writing as mutually agreed by the Parties.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the day
and year first written above.
CITY OF WEST COVINA, on behalf of the
Oversight Board to the Successor Agency of the
West Covina Redevelopment Agency
By:
HARPER & BURNS LLP
By:
John R. Harper
On behalf of the Oversight Board to the Successor Agency of the former West Covina
Redevelopment Agency, I hereby agree to: (i) retain Harper & Burns, LLP ("the firm") to
provide legal services to the Oversight Board, as client, as described above; (ii) consent to the
firm's acceptance of payment from City of West Covina in its role as Successor Agency of the
former West Covina RDA.
By: Date:
Carrie Sutkin
Title: Chair, Oversight Board to the Successor
Agency of the West Covina RDA
On behalf of the City of West Covina in its capacity as Successor Agency of the former Pomona
Redevelopment Agency, I hereby agree to: (i) the retention of Harper & Burns, LLP ("the firm")
by the Oversight Board to the Successor Agency of the former West Covina Redevelopment
Agency, and (ii) that the Successor Agency of the former West Covina Redevelopment Agency
will be responsible for the payment of such services but will not be a client of the firm with
respect to the services provided to the Oversight Board.
By:
Date:
Michael Touhey
Title: Mayor, City of West Covina
in its capacity as Successor Agency
of former West Covina RDA
ATTACHMENT NO. 2
. PROPOSAL FOR LEGAL SERVICES
TO THE OVERSIGHT BOARD
July 24, 2012
LAW OFFICES OF
HARPER & BURNS LLP
A LIMITED LIABILITY PARTNERSHIP INCLUDING A PROFESSIONAL CORPORATION
JOHN R. HARPER'
ALAN R. BURNS
COLIN R. BURNS
Of Counsel
JUDI CURTIN"
MICHAEL MONTGOMERY*
•A PROFESSIONAL CORPORATION
July 18, 2012
Via Federal Express
Susan Rush, Assistant City Clerk
City of West Covina
City Clerk's Office
1444 West Garvey Avenue
West Covina, California 91765
453 SOUTH GLASSELL STREET
ORANGE, CALIFORNIA 92866
TELEPHONE (714) 771-7728
FACSIMILE (714) 744-3350
John R. Harper
jrharpen@harperburns.com
Adhoc Committee
Oversight Board to the Successor Agency to the
Redevelopment Agency for the City of West
Covina
Re: Response to Request for Qualifications for Legal Services for the Oversight
Board to the Successor Agency to the Redevelopment Agency
Members of the Oversight Board:
This proposal of the Law Offices of Harper & Burns LLP to provide legal services to the
Oversight Board for the City of West Covina is provided in response to the City's Request for
Proposals.
The Firm would be pleased to provide the Oversight Board legal services by one of its
- - partners, John Robert Harper.—Mr. -Harper has-been- a-public agency lawyer-for- in- excess- of thirty -- —
(30) years, serving as City Attorney and.Redevelopment Agency Counsel to numerous cities in
Orange, Riverside, and San Bernardino Counties, as well as water and sewer agencies and school
districts. In that capacity, he and the Firm have extensive experience in all phases of public
agency representation, including public contracts, affordable housing, public works contracting,
complex real property transaction, including negotiation of development agreements and DDA's.
Mr. Harper currently represents redevelopment agencies through the dissolution process
and currently is counsel to Successor Agencies and to Oversight Boards. Mr. Harper is also a
nationally recognized municipal bond counsel.
Sincerely,
HARPER & BURNS LLP
Enclosures
John Robert Harper
Partner
jrharper@harperburns.com
CALIFORNIA STATE BAR NO.:
• . 82306
AREAS OF PRACTICE:
Municipal Law
Government Finance
EDUCATION:
University. of La yerne,..Schoot of Law.
(J.D. 1978, Magna Cum Laude)
University of Redlands
(B.A. 1968)
MEMBERSHIPVADMISSIONS:
State Bar of California
Assn. of California Water Agencies
League of California Cities
Orange County City Attorneys Assn.
Inland Empire City Attorneys Assn.
American Bar Association
Orange County Bar Association
California Trial Lawyers Association
Moody's Muni. Bond Lawyers of U.S.
HARPER BURNS LLP
In the course of his thirty-three years of practice, Mr. Harper has
represented exclusively public agencies in All areas of municipal law, as
a city attorney, general counsel and special counsel in municipal finance
and ,litigation, principally the areas of land use and planning,
environmental law, risk management, real property and eminent domain.
Mr. Harper has been City Attorney in a minimum of two cities since
1981.
Mr. Harper has been an arbitrator for the National Association of
Securities Dealers and the Municipal Securities Rulemaking Board since
1980 and has taught mediation and arbitration techniques on behalf of
the United States Department of Labor, Public Agency Division,
throughout the United States. Mr. Harper has also been involved in
innumerable mediation and arbitration sessions related to public
employees and public labor relations, including successfully negotiating
resolution to several public employee strikes.
Mr. Harper was the first Chairman of the Coto de Caza Specific Plan
Board of Review, appointed by Supervisor Thomas Riley and Gaddi
Vasquez. Mr. Harper is, and has been since 2010, a Chairman of the
• Citizens Bond Oversight Commission for the City of San Juan
Capistrano.
Before receiving his law degree, Mr. Harper served as a personnel
consultant to public agencies statewide, as Assistant Superintendent for
Employee Relations in the Corona-Norco Unified School District (19.72-
1978), and provided nationwide labor relations training through the U.S.
Department of Labor.
From- 1978-to the present, -Mr;--1-larper-has-devoted his-law-practice -to
the representation of municipal clients, including cities, school districts,
water districts, and other public agencies. Mr. Harper has been the City
Attorney /Redevelopment Agency Counsel/Successor Agency Counsel
for the City of Norco since 1991. Mr. Harper is General Counsel for the
Trona Unified School District and the Rubidoux Community Services
District, has served as General Counsel for the Lake Arrowhead
Community Services District, the Big Bear Municipal Water District and
the Indian Wells County Water District, has also served as City Attorney
and Redevelopment Agency Counsel for the cities of Murrieta (1993-
2007), Grand Terrace (1987-2011), Placentia (1978-1987) and Lake
Elsinore (1984-1997), and was Deputy City Attorney for the City of
Indian Wells and the City of Adelanto.
In addition, Mr. Harper has provided special counsel services on behalf
of the cities of Adelanto, Big Bear, Brea, Carlsbad, El Cajon, Fresno,
Fullerton, Huntington Park, Indian Wells, Irwindale, Los Angeles,
National City, Palm Desert, Pasadena, Pomona, San Clemente, San
Diego, San Marcos, Santa Monica, Seal Beach, Simi Valley, Imperial,
Winters, Dinuba.
Mr. Harper is rated "AV" by Martindale-Hubbell and is a nationally
recognized municipal bond counsel.
Rai
HARPER BURNS LLP
John Robert Harper
Partner
• Abated Riverside County marijuana dispensary
• Drafted sober living home regulations and drug . paraphernalia
• regulations adopted by Clients and other cities throughout Riverside
and San Bernardino Counties
• Assisted Riverside County JPA in drafting Riverside County
multispecies habitat regulations
• Successfully litigated challenges to signage, billboard regulations in
Norco, Murrieta, Lake Elsinore
• Drafted numerous residential •and commercial development
agreements
• Drafted numerous residential and commercial disposition and
development agreements
• Successfully litigated matters resulting in published appellate
opinions: County of Riverside v. City of Murrieta (blight), Thompson v.
City of Lake Elsinore (vested rights), Rafco Co. V. City of Murrieta
• (General Plan/approved tract map), Walt Rankin & Assoc., Inc. v. City
of Murrieta (construction surety requirements), City of San Marcos v.
Board of Supervisors (tax issue)
• Successfully litigated closure of adult bookstores (Placentia, Lake
Elsinore)
• Successfully defended numerous CEQA challenges to land use
approvals (Placentia, Norco, Murrieta, Grand Terrace)
• Represented public agency management in labor negotiations and
through strike
• Conducted • collective bargaining training through U.S. through
Department of Labor
LAW OFFICES OF
• HARPER & BURNS LLP
A LIMITED LIABILITY PARTNERSHIP INCLUDING A PROFESSIONAL CORPORATION
JOHN R. HARPER*
ALAN R. BURNS
COLIN FL BURNS
Of Counsel
SUDS CURTIN*
MICHAEL MONTGOMERY*
•A PROFESSIONAL CORPORATION
453 SOUTH GLASSELL STREET
ORANGE, CALIFORNIA 92866
TELEPHONE (714) 771-7728
FACSIMILE (714) 744-3350 -
JOHN ROBERT HARPER, ESQ.
PARTNER
Experience:
1978 to Present: Law practice devoted to the representation of municipal clients, including
cities, school districts, water districts, and other public agencies.
1972 to 1978: Assistant Superintendent for Employee Relations, Corona-Norco Unified School
District, involving both employee relations and serving as the Assistant to the Superintendent in
the day-to-day activities of a school district employing 2,500 full and part-time employees.
1968 to 1972: Management and Personnel Consultant to California Public Agencies, including
cities, counties and school district as Supervisor of the • Southern California office of the
Cooperative Personnel Services non-profit consulting division of the State of California.
• 1980 to Present: Nationally Recognized (Moody's Red Book) Municipal Securities Counsel.
Consultant
• United States Department of Labor, Public Employee Relations Division in conducting
public sector collective bargaining workshops throughout the United States
• Association of California School Administrators, in conjunction with the law firm of .
Patterson & Taggert
• California Association of School Business Officials
Arbitrator
• National Association of Securities Dealers, Municipal Securities Rule Making Board.
Memberships:
• Association of California Water Agencies
• League of California Cities - City Attorneys Division
• Orange County City Attorneys Association
• Inland Empire City Attorneys Association
• State of California Bar Association - Public Law Division
• American Bar Association
• Orange County Bar Association
• California Trial Lawyers Association
• Moody's Municipal Bond Lawyers of United States
Public Office:
• Chairman, City of San Juan Capistrano Auditing and Finance Committee (2012 to present).
• Chairman, City of San Juan Capistrano Citizens Bond Oversight Committee (2010 to present).
• Chairman, Coto de Caza Board of Review (appointed by Supervisors Riley and Vasquez) (1988
to 1991)
Education:
• Bachelor of Arts, University of Redlands (1968); 30 units toward Masters of Public
Administration
• Doctor of Jurisprudence, University of La Verne School of Law - Magna Cum Laude (1978)
Professional Recognition:
• Martindale-Hubbell, Inc. Rated A-V
PUBLIC AGENCY CLIENTS
Current
City Attorney and Redevelopment Agency -- - - -
• City of Norco (May 1991 to Present)
• City of Fountain Valley (Assistant City Attorney) (1982 to present)
General Counsel (Unless Otherwise Noted)
Rubidoux Commrmity Services District (1978 to present)
Trona Unified School District (1999 to present)
Orange County Vector Control (Assistant General Counsel) (1982 to present)
Home Gardens Sanitary District (Assistant General Counsel) (1982 to present)
Special Counsel Cities/Redevelopment Agencies
• El Cajon .
• City of Huntington Park
• City of Irwindale
• City of Los Angeles
City of San Diego •
City of Santa Monica
Harper & Burns LLP I 453 South Glassell Street, Orange, California 92866 I Telephone (714) 771-7728 I Facsimile (714) 744-3350 I www.harperbums.com
Special Counsel Other Public Agencies
• Irvine Ranch Water District
• Ramona Municipal Water District
Special Counsel Cities (Unless Otherwise Noted)
• Adelanto
• Big Bear
• Brea
• Carlsbad
• Fresno
• Fullerton
• Grand Terrace (City Attorney) (1987 to 2011)
• Indian Wells
• Lake Elsinore (City Attorney) (1984 to 1997)
• Murrieta (City Attorney) (1993 to 2008)
• National City
• Palm Desert
• Pasadena
• Placentia (City Attorney) (1978 to 1987)
• San Clemente
• San Marcos
• Seal Beach
• Simi Valley
Special Counsel Other Public Agencies (Unless Otherwise Noted)
• Apple Valley County Water District
- •-- Baldy Mesa Water District - -
• Big Bear Municipal Water District (General Counsel)
• Chino Basin Municipal Water District (General Counsel)
• El Rancho Unified School District Hi-Desert Water District ▪ Indian Wells Valley Water District
• Lake Arrowhead Community Services District
• Yucca Valley Water District
Harper & Bums LLP 1 453 South Glasse11 Street, Orange, California 92866 1 Telephone (714) 771-7728 1 Facsimile (714) 744-3350 .1 www.harperbums.com
Colin Robert Burns
Senior Attorney
crburns@harperburns.com
CALIFORNIA STATE BAR No.:
228311
AREAS OF PRACTICE:
Municipal Law
Litigation
EDUCATION:
University of California, Hastings
- College of the Law
(J.D. 2003, Cum Laude)
Arizona State University
(B.A., Political Science, 2000)
MEMBERSHIPS/ADMISSIONS:
State Bar of California
U.S. Dist. Court, Central Dist. of CA
League of California Cities
California Assn. of Sanitation Agencies
HARPER I BURNS LLP
Colin Burns serves as assistant city attorney to the City of Fountain
Valley and deputy city attorney to the City of Norco. Colin Burns also
serves as associate district counsel to the Costa Mesa Sanitary District,
Home Gardens Sanitary District, and Orange County Vector Control
District.
His practice includes reviewing and approving municipal investment
policies. He also serves as trial counsel in land use and environmental
matters. Mr. Burns has a successful litigation track record prosecuting
municipal code violations including obtaining an injunction against a
mobile marijuana dispensary. He has also successfully litigated public
works, Brown Act, election, contract, and tort matters and is an
experienced Pitchess attorney. He has extensive knowledge in open
government, land use, and planning and represents several Planning
Commissions.
Mr. Burns graduated, cum laude, from the University of California,
Hastings College of Law and is a member of the Order of the Coif and
Thursten honor societies, and Moot Court Board. He is also an Eagle
Scout and was named "Honored Citizen" by the Orange County Board
of Supervisors.
SUMMARY OF EXPERIENCE
• Over eight years experience advising councils, boards,
commissions, and °staff on all matters pertaining to municipal and
local government law
• Experience in The Planning and Zoning Law, Subdivision Map Act,
California. Environmental Quality Act, Mitigation Fee Act, and Permit
- - - Streamlining Act, PolitiCal Reform Act; Brown. Act, Public Records
Act, Section 1090, and incompatible offices doctrine
• Reviewed and drafted numerous ordinances and resolutions
• Successfully litigated Health and Safety Code Section 17980.7
receivership, Subdivision Map Act, sign code cases, Brown Act,
CEQA, Elections Code, and architectural and engineering lawsuits
• Successfully prosecuted hundreds of municipal code violations,
defended due process and suppression motions, prosecuted public
nuisance and administrative abatement actions and obtained court
ordered receivership of five acre "pack rat" property
•
PUBLICATIONS & PRESENTATIONS
• Reviewer: The California Municipal Law Handbook (2010)
Continuing Education of the Bar
• Presenter: Massage Parlor Enforcement Strategies, Orange County
Police Commanders' Luncheon, January 2010
• White Paper: District Liability for a Sewage Spill from a Private
Lateral (April, 2008)
LAW OFFICES OF
HARPER & BURNS LLP
A LIMITED LIABILITY PARTNERSHIP INCLUDING A PROFESSIONAL CORPORATION
'JOHN R. HARPER*
ALAN R.. BURNS
COLIN R. BURNS
Of Counsel
JUDI CURTIN*
MICHAEL MONTGOMERY*
453 SOUTH GLASSELL STREET
ORANGE, CALIFORNIA 92866
TELEPHONE (714) 771-7728
FACSIMILE (714) 744-3350
John R.. Harper
•A PROFESSIONAL CORPORATION Jrharpergurperbums.com "
• REFERENCES
CITY OF NORCO • KOSMONT COMPANIES
City Attorney (1988 to Present)
Services Provided:
Services Provided:
City Attorney
Redevelopment Agency Counsel
Reference Contact:
Beth Groves, City Manager
City of Norco
2870 Clark Avenue
Norco, California 92860
(951) 270-5611
bgroves@ci.norco.ca.us
CITY OF GRAND TERRACE
City Attorney (1979 to 2011)
Services Provided:
City Attorney
Redevelopment Agency Counsel
Reference Contact:
Betsy Adams, City Manager
City of Grand Terrace
22795 Barton Road
Grand Terrace, California 92313
(909) 824-6621
badams@cityofgrandterrace.org
Kosmont Companies is a redevelopment
consultant. I have worked with the company
on behalf of several public agencies/entities
in development proposals, including
Silverlakes Equestrian and Sports Park s in
Norco.
Reference Contact:
Larry Kosmont, President
Kosmont Companies
865 South Figueroa Street, Suite 3500
Los Angeles, California 90017
(213) 417-3333
lkosmont@kosmont.com
LAW OFFICES OF
HARPER & BURNS LLP
A LIMITED LIABILITY PARTNERSHIP INCLUDING A PROFESSIONAL CORPORATION
JOHN R. HARPER."
ALAN R. BURNS
COLIN R. BURNS
Of Counsel •
JUDI CURTIN*.
MICHAEL MONTGOMERY'
-A PROFESSIONAL CORPORATION
453 SOUTH GLASSELL STREET
ORANGE, CALIFORNIA 92866
TELEPHONE (714) 771-7728
FACSIMILE (714) 744-3350
Joltn R. Harper
jrharper@harperburns.com
FEE SCHEDULE
All attorney services provided pursuant to this Proposal shall be at a fee of $175.00 per
hour in minimum increments of 15 minutes. Attendance at Oversight Board meetings shall be
billed at actual time or a minimum of two (2) hours, whichever is greater.
$200 - Attorneys $100- Paralegal $100 - Investigator Part time/Clerical only as and if needed Alternative compensation plan of $2,500/month fate fee $200 - Attorneys $100 - Paralegal $100 - Investigator Part time/Clerical only as and if Additonal cost to retainer. , No travel expenses if based on hourly rate. Additional cost for travel if flat fee is selected. Yes None $285 - Attorney $285 Cost of travel Yes ' Healdsburg $205 - $285 Associates Time of travel Salinas . $95 - $125 Paralegals Petaluma Santa Monica $450 $350 $375 - $300 $300 $450 $350 $480 $300 $300 $260 None Yes None 3% increase in Sept 1 • c. ATTACHM NINO. 3 Law Firm 1 Colantuono & Levin, PC 300 So, Grand Avenue, Suite 2700 Los Angeles, CA 90071-3137 Main (213) 542-5700 Fax (213) 542-5710 mw.clInw.us 2 Harper & Burns LLP 453 South GlasseII Street Orange, CA 92866 Main (714) 771-7728 Fax (714) 744-3350 3 Law Offices of Edward Z Kotkin Xerox Centre 1851 East First Street, Suite 900 Santa Ana, CA 92705-4066 Main (714) 619-9393 Fax (714) 384-4550 msw.kolkinliw.com 4 Renne Sloan Hotlman Sakai LLP 350 Sansome Street, Suite 300 San Francisco, CA 94104-1304 Main (415) 678-3800 Fax (415) 678-3838 5 Polsjnelli Shughart LLP 1801 Century Park East, Suite 1801 Los Angeles, CA 90067 Main (310) 203-5303 Fax (310) 861-1091 Designated Attorney Teresa L. Highsmith Scott Howard John Robert Harper Cohn Robert Burns Edward Z Kolkin Peter L. Wallin David Kahn Randy Riddle Lisa Greer Ouateman Timothy J. Reimers Tracy M. Ginn Wesley D. Hurst Arthel McDaniel Eric B. Blum Michael P. Cutler Barstow Sierra Madre Los Alamitos Calabasas Norco Fountain Valley Gardena West Covina' Is Verne *Indicates this is a miscommunications between firms and Peter Wallin does not represented West Covina. No additional identified. Gardena Compton Los Angeles LAX San Diego San Francisco Pasadenda A client list Identifies LA County Civil Service Commission, LA County Law Library and various taxing entities. See client lisL Trono Unified School District Rubidoux Community Services District Orange County Vector Control Home Gardens Sanitary District None. Santa Clara County (past) San Francisco County County of Los Angeles (past) Internal Conflict of Interest Check Completed No conflict identied by Law Firm. No conflict identied by Law Firm. No conflict identied by Law Firm. No conflict identied by Law Firm. No conflict identied by Law Firm. General Services Litigation Hourly Rate Hourly Rate $225- blended $325 Travel Expenses Available First Thursday of the month Currently Represents other Oversight Boards Mileage only Yes Pomona Temple City San Gabriel Currently Represents other Currently Represents County or Cities other Taxing Entities $175 $175 None Yes March Air Force Base Norco Redevelopment Experience Yes Yes Yes Yes Yes
City of West Covina
Memorandum
AGENDA
Item SA7
TO: Andrew G. Pasmant, City Manager
and City Council
Date: August 21, 2012
FROM: Thomas Bachman
Assistant City Manager
SUBJECT: 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
RECOMMENDATION:
It is recommended the City Council, acting as the Successor Agency of the West Covina
Redevelopment Agency, adopt the following resolution entitled:
RESOLUTION NO. - A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA,
ACTING AS THE 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.
DISCUSSION:
The State of California allows local government agencies to pool investment funds in the
Local Agency Investment Fund (LAIF). This allows participants to achieve greater
diversity and higher return with complete liquidity as part of the state's professionally
managed portfolio. The City of West Covina and the West Covina Successor Agency
currently have investment accounts with LAIF. The interest rate for the most recently
completed quarter ending June 30, 2012, was 0.358%.
The California State Treasurer's office has asked the City to update the resolutions
authorizing participation in the pool. The new resolution authorizes the Assistant City
Manager, Finance Director, the City Controller and their successors to administer West
Covina's LAIF accounts.
FISCAL IMPACT:
None.
eecz-ksz.-
Prepared by: Clara Wong Reviervn 4?-'1'pproved lif.om Bachman
Interim FinanceD)ector Asst. City Manager
RESOLUTION NO.
RESOLUTION NO. - A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA,
ACTING AS THE 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.
WHEREAS, Pursuant to Chapter 730 of the statutes of 1976 Section 16429.1 was
added to the California Government Code to create a Local Agency Investment Fund in
the State Treasury for the deposit of money of a local agency for purposes of investment
by the State Treasurer; and
WHEREAS, the West Covina City Council acting as the successor agency to the
West Covina Redevelopment Agency does hereby find that the deposit and withdrawal of
money in the Local Agency Investment Fund in accordance with the provisions of
Section 16429.1 of the Government Code for the purpose of investment as stated therein
as in the best interests of the Agency.
WHEREAS, it is deemed wise and prudent to establish an account with the office
of the California State Treasurer for the purpose of using the Local Agency Investment
Fund as an investment alternative.
NOW, THEREFORE BE IT RESOLVED, the City Council of the City of
West Covina acting as the successor agency to the West Covina Redevelopment
Agency does hereby resolve as follows:
Section 1. That the City of West Covina City Council acting as the successor
agency to the West Covina Redevelopment Agency hereby authorizes the establishment
of an investment account with the office of the California State Treasurer Local Agency
Investment Fund titled:
West Covina Successor Agency
1444 West Garvey Avenue
West Covina, CA 91790
Attn: Finance Director
e) Section 2. That the City of West Covina City Council acting as the successor
agency to the West Covina Redevelopment Agency agrees to deposit or withdraw
money in the Local Agency Investment Fund in the State Treasury in accordance
with the provisions of Section 16429.1 of the Government Code for the purpose
of investment as stated herein.
Section 3. That the West Covina City Council authorizes the following named
local officials to order the deposit or withdrawal of money in the Local Agency
Investment Fund:
Thomas Bachman, Assistant City Manager,
Clara Wong, (Interim) Finance Director
Dennis Swink, City Controller,
and their successors.
Section 4. That the City Clerk shall certify to the passage and adoption of the
resolution.
APPROVED AND ADOPTED this 21st day of August 2012.
Mayor Mike Touhey
Attest:
City Clerk Laurie Carrico
I, LAURIE CARRICO City Clerk of the City of West Covina, California, do
hereby certify that the foregoing resolution was approved and adopted by the City
Council at the regular meeting of August 21, 2012, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
City Clerk Laurie Carrico
Approved as to form:
City Attorney Arnold Alvarez-Glasman
City of West Covina
Memorandum
AGENDA
TO: Andrew G. Pasmant, Executive Director and the ITEM NO. SA8
Successor Agency of the West Covina Redevelopment
Agency DATE August 21, 2012
FROM: Thomas Bachman, Assistance City Manager/Finance Director
Christopher J. Chung, CDC Director
SUBJECT: COOPERATION AGREEMENT BETWEEN CITY OF WEST COVINA
("CITY") AND SUCCESSOR AGENCY TO THE WEST COVINA
REDEVELOPMENT AGENCY ("SUCCESSOR AGENCY) FOR ADVANCE
AND REIMBURSEMENT OF ADMINISTRATIVE, OVERHEAD AND
OTHER EXPENSES
RECOMMENDATION: •
It is recommended that the City Council acting as the Successor Agency to the West Covina
Redevelopment Agency adopt the following resolution:
RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF WEST COVINA, ACTING AS THE SUCCESSOR
AGENCY TO THE WEST COVINA REDEVELOPMENT AGENCY,
APPROVING A COOPERATIVE AGREEEMENT WITH THE CITY OF
WEST COVINA FOR THE ADVANCE AND REIMBURSEMENT OF
ADMINISTRATIVE COSTS, ENFORCEABLE OBLIGATIONS, AND
PROJECT RELATED EXPENSES
DISCUSSION:
Staff recommends that the City and Successor Agency enter into a Cooperative Agreement for
Advance and Reimbursement of Administrative, Overhead, apd Other Expenses ("Cooperative
Agreement") in order to establish the contractual and legal mechanism for the City and Successor
Agency to implement this system. By providing and making available to the Successor Agency
the staff, facilities, services, and other resources of the City, the City has advanced and will
continue to advance the cost of the foregoing to the Successor Agency. The Cooperative
Agreement provides a method for the Successor Agency to reimburse the City for such advances.
FACTS:
Under AB 1X 26 and subsequent authorities, Successor Agencies are mandated to undertake a
number of actions pursuant to Health & Safety Code Section 34170, et seq., including winding
down the affairs of the former Agency. Undertaking such actions requires the devotion of city
staff time, city facilities, and other city resources, all of which are required in order for the
Successor Agency to properly fulfill its legal mandates.
To memorialize these obligations, cities have been considering entering into "Cooperative
Agreements" with their counterpart successor agencies to ensure that any advances are
reimbursable obligations. The Cooperative Agreements provide the terms by with a city will
advance staff time, facilities, and other resources to its counterpart successor agency in exchange
for future reimbursement by the successor agency. Such agreements are authorized pursuant to
Health & Safety Code Section 34171(d)(1)(F), which characterizes as "enforceable obligations"
agreements necessary for the administration or operation of the successor agency (subject to
oversight board approval). Additionally, Health & Safety Code §§ 34173(h) and 34177.3(b)
newly enacted under AB 1484, provide further authority to enter into a Cooperative Agreement.
To be effective, the Cooperative Agreement must be approved by both the City and the Successor
Agency, must be submitted to and approved by the West Covina Oversight Board, and must be
approved as an "enforceable obligation."
Christopher I. Ch
CDC Director
Approved by:
Thomas achman,
Assistant City Manager/Finance Director
Attachments:
Attachment No. 1: Resolution approving Cooperation Agreement
Attachment No. 2: Cooperation Agreement.
ATTACHMENT NO. 1
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WEST COVINA, ACTING AS THE SUCCESSOR AGENCY TO
THE WEST COVINA REDEVELOPMENT AGENCY,
APPROVING A COOPERATIVE AGREEEMENT WITH THE
CITY OF WEST COVINA FOR THE ADVANCE AND
REIMBURSEMENT OF ADMINISTRATIVE COSTS,
ENFORCEABLE OBLIGATIONS, AND PROJECT RELATED
EXPENSES
WHEREAS, the Successor Agency to the former West Covina Redevelopment Agency
("Successor Agency") is required to undertake a number of actions pursuant to Part 1.85 of the
Community Redevelopment Law (commencing with Health and Safety Code Section 34170
("Part 1.85"), including winding down the affairs of the former Redevelopment Agency
("Agency");
WHEREAS, in June 2012, the State Legislature enacted Assembly Bill ("AB") 1484
which amended AB 26 and clarified the definition of "enforceable obligations";
WHEREAS, pursuant to Health and Safety Code Section 34171(d)(1)(F), contracts or
agreements necessary for the administration or operation of the Successor Agency are
enforceable obligations;
WHEREAS, pursuant to Health and Safety Code Section 34177.3(b), the Successor
Agency may create enforceable obligations to conduct the work of winding down the Agency,
including hiring staff, acquiring necessary professional administrative services and legal counsel,
and procuring insurance;
WHEREAS, pursuant to Health and Safety Code Section 34173(h), the city that
authorized the creation of a redevelopment agency may loan or grant funds to a successor agency
for administrative costs, enforceable obligations, or project related expenses at the city's
discretion and, subject to the Oversight Board's approval, such loan or grant from the city shall
be deemed an enforceable obligation;
WHEREAS, in connection with the administration and operations of the Successor
Agency, the Successor Agency is and will be utilizing the staff, facilities, and other resources of
the City of West Covina ("City");
WHEREAS, the City has agreed to advance to the Successor Agency the staff, facilities,
and other resources necessary for the Successor Agency to perform its obligations under Part
1.85, in exchange for the reimbursement of the costs therefore from future funds received by the
Successor Agency, to the extent permitted by law;
WHEREAS, the Successor Agency recognizes that the Oversight Board to the Successor
Agency ("Oversight Board") is required to undertake a number of actions pursuant to Part 1.85,
including overseeing and approving actions of the Successor Agency as are enumerated in Health
and Safety Code Section 34180, and, in connection with performing those obligations, is and will
be utilizing the staff, facilities, and other resources of the Successor Agency.
WHEREAS, the City has agreed to advance to the Successor Agency the staff, facilities,
and other resources necessary to assist the Oversight Board in performing its obligations under
Part 1.85, including advancing the funds to the Successor Agency necessary for the Oversight
Board to retain independent legal counsel and/or technical advisors.
WHEREAS, the Successor Agency desires to memorialize its understanding with the
City and provide for an appropriate method of reimbursement of such advances and/or loans by
the City to the Successor Agency.
NOW, THEREFORE, BE IT RESOLVED by the Successor Agency as follows:
SECTION 1. The Successor Agency hereby finds and determines that the forgoing
recitals are true and correct, constitute a material part of this Resolution, and therefore
incorporate them herein in their entirety as part of the findings.
SECTION 2. The Successor Agency hereby finds and determines that a "cooperative
agreement" memorializing its understanding with the City and providing for an appropriate
method of reimbursement of the City's advance of staff, facilities, and other resources will aid
the Successor Agency in satisfying its obligations under Part 1.85.
SECTION 3. The Successor Agency hereby approves that certain agreement, titled
"Cooperative Agreement For Advance And Reimbursement Of Administrative Costs,
Enforceable Obligations, And Project Related Expenses" ("Cooperative Agreement"), that is
attached hereto as Exhibit "A."
SECTION 4. The Successor Agency hereby authorizes the Executive Director, or their
designee, to execute the Cooperative Agreement and any reasonably related agreement(s)
necessary to carry out its purpose on behalf of the Successor Agency.
SECTION 5. The Successor Agency hereby acknowledges that the Cooperative
Agreement requires the approval of the Oversight Board to the Successor Agency before
becoming effective.
SECTION 6. If any part of this Resolution or its application is held to be invalid, the
remainder of the Resolution shall not be affected and shall continue in full force and effect.
SECTION 7. The Successor Agency Secretary shall certify to the passage and adoption
of this Resolution and the same shall thereupon take effect and be in force immediately upon its
adoption.
APPROVED AND ADOPTED on this day of August, 2012.
Mike Touhey, Governing Board Chairman
Successor Agency of the former West Covina
Redevelopment Agency
APPROVED AS TO FORM:
Arnold M. Alvarez Glasman,
Successor Agency Counsel
ATTEST
Susan Rush, Successor Agency Secretary
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the by the Governing
Board of the Successor Agency to the former West Covina Redevelopment Agency at a meeting held on the day of by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Susan Rush, Successor Agency Secretary
Successor Agency of the former West Covina
Redevelopment Agency
ATTACHMENT NO. 2
COOPERATIVE AGREEMENT FOR ADVANCE AND
REIMBURSEMENT OF ADMINISTRATIVE COSTS,
ENFORCEABLE OBLIGATIONS, AND PROJECT
RELATED EXPENSES
This COOPERATIVE AGREEMENT FOR ADVANCE AND REIMBURSEMENT OF
ADMINISTRATIVE COSTS, ENFORCEABLE OBLIGATIONS, AND PROJECT RELATED
EXPENSES (this "Agreement") is entered into as of , by and between
the City of West Covina (the "City") and the Successor Agency to the West Covina
Redevelopment Agency (the "Successor Agency").
RECITALS:
WHEREAS, the Successor Agency is required to undertake a number of actions pursuant
to Part 1.85 of the Community Redevelopment Law (commencing with Health and Safety Code
Section 34170) ("Part 1.85"), including winding down the affairs of the former West Covina
Redevelopment Agency ("Agency") as required by Health and Safety Code Section 34177(h).
WHEREAS, in June 2012, the State Legislature enacted AB 1484 which amended AB
26 clarifying the definition of "enforceable obligations."
WHEREAS, pursuant to Health and Safety Code Section 34171(d)(1)(F), contracts or
agreements necessary for the administration or operation of the Successor Agency are
enforceable obligations.
WHEREAS, pursuant to Health and Safety Code Section 34177.3(b), the Successor
Agency may create enforceable obligations to conduct the work of winding down the
Redevelopment Agency, including hiring staff, acquiring necessary professional administrative
services and legal counsel, and procuring insurance.
WHEREAS, pursuant to Health and Safety Code Section 34173(h), the city that
authorized the creation of a redevelopment agency may loan or grant funds to a successor agency
for administrative costs, enforceable obligations, or project related expenses at the city's
discretion and, subject to the oversight board's approval, such loan or grant from the city shall be
deemed an enforceable obligation.
WHEREAS, in connection with the administrative costs, enforceable obligations, project
related expenses, and the general operations of the Successor Agency in accordance with Part
1.85, the Successor Agency is and will be utilizing the staff, facilities, and other resources of the
City.
WHEREAS, the City Manager of the City serves as Executive Director of the Successor
Agency, the City Treasurer serves as Finance Officer of the Successor Agency, and the City
Clerk serves as Secretary to the Successor Agency. Planning, finance, engineering, public works,
and other City departments devote, and are expected to devote, substantial time with respect to
the administration and operations of the Successor Agency, including gathering information
relating to the Agency's enforceable obligations, conferring with public officials representing
governmental agencies, and undertaking other activities in connection with winding down the
affairs of the Agency required under Part 1.85.
WHEREAS, by providing and making available to the Successor Agency the staff,
facilities, services, and other resources of the City, including, without limitation, consultants,
legal counsel, office space, equipment, supplies, and insurance, necessary to the administration
and operations of the Successor Agency, the City has advanced and will continue to advance the
cost of the foregoing to the Successor Agency.
WHEREAS, the City and Successor Agency recognized that the Oversight Board to the
Successor Agency ("Oversight Board") is required to undertake a number of actions pursuant to
Part 1.85, including overseeing and approving actions of the Successor Agency as are
enumerated in Health and Safety Code Section 34180, and, in connection with performing those
obligations, is and will be utilizing the staff, facilities, and other resources of the Successor
Agency.
WHEREAS, the City and Successor Agency recognize that the Oversight Board may
require independent legal counsel and/or technical advisors to perform its obligations under Part
1.85.
WHEREAS, the City is and will be advancing to the Successor Agency the staff,
facilities, and other resources necessary to assist the Oversight Board in performing its
obligations under Part 1.85, including advancing the funds to the Successor Agency necessary for
the Oversight Board to retain independent legal counsel and/or technical advisors.
WHEREAS, the City and the Successor Agency desire to enter into this Agreement to
acknowledge the foregoing recitals and to memorialize the mutual understanding between City
and Successor Agency, and provide for an appropriate method of reimbursement of such
advances and/or loans by the City to the Successor Agency.
NOW, THEREFORE, THE PARTIES DO HEREBY AGREE AS FOLLOWS:
Section .1. The City agrees to make available to the Successor Agency its staff,
facilities, services, and other resources, including, without limitation, consultants, legal counsel,
office space, equipment, supplies, and insurance, necessary to the administration and operations
of the Successor Agency and the Oversight Board and, where necessary, advances or loans to the
Successor Agency for administrative costs, enforceable obligations, and project related expenses.
The Successor Agency desires to have access to and utilize the foregoing staff, facilities,
services, and other resources of the City as may be required to perform its obligations under All
26 and amendments thereto.
Section 2. The City agrees to advance funds to the Successor Agency for Oversight
Board legal services and/or technical advisors for July 2012 to December 2012, to be reimbursed
under the Recognized Obligations Payment Schedule ("ROPS") for January 1, 2013 to June
2013, and to advance such other funds in further ROPS payment periods as is reasonably
necessary to allow the Oversight Board to retain legal services and/or technical advisors.
Section 3. The value of the City staff, including all employee salaries, retirement and
other benefits, facilities, services, and other resources of the City, including but not limited to,
office space, equipment, supplies, and insurance, necessary to the administration and operations
of the Successor Agency made, and to be made, available to the Successor Agency for each six-
month fiscal period beginning with the fiscal period commencing on January 1, 2012 and ending
on June 30, 2012, calculated and determined in accordance with Section 4 hereof; shall be
detemined necessary for the administration and operation of the Successor Agency for purposes
of Health and Safety Code § 34171(d)(1)(F) and constitute an advance and loan to the Successor
Agency as authorized pursuant to Health and Safety Code § 34173(h) by the City for each six-
month fiscal period, to be repaid in accordance with Section 4 of this Agreement.
Section 4. The City shall prepare a cost analysis based upon reasonable allocations
and generally accepted accounting principles documenting: (a) the value of any administrative
costs paid for by the City, including, but not limited to, all employee salaries, retirement and
other benefits, and the facilities, services, and other resources of the City made, or to be made
available, to the Successor Agency pursuant to Section 1 hereof; (b) any City advances or loans
used to pay for any Administrative Costs or Enforceable Obligation(s); and (c) any City advances
or loans used to pay for any project related expenses for each six-month fiscal period beginning
with the first fiscal period commencing on January 1, 2012 and ending on June 30, 2012
("Expenses").
Section 5. Within a reasonable amount of time following the end of each six month
fiscal period, beginning with the fiscal period commencing on January 1, 2012 and ending on
June 30, 2012, the Successor Agency shall pay the City an amount equal to the amount advanced
or loaned to pay for any Administrative Costs, Enforceable Obligations or Project Related
expenses as calculated in Section 4 hereof ("Unfimded Costs"). The Unfunded Costs owed to the
City shall constitute an Enforceable Obligation pursuant to Health and Safety Code §§ 34173(h)
and 34171(d)(1)(F) and included on all applicable future Recognized Obligations Payment
Schedules.
Section 6. The parties hereto agree to take all appropriate steps and execute any
documents which may reasonably be necessary or convenient to implement the intent of this
Agreement.
Section 7. Each party shall maintain books and records regarding its duties pursuant
to this Agreement. Such books and records shall be available for inspection by the officers and
agents of the other Party at all reasonable times.
Section 8. This Agreement is made in the State of California under the Constitution
and laws of the State of California, and is to be so construed.
Section 9. This Agreement will be become effective upon approval of the Oversight
Board to the Successor Agency.
Section 10. This Agreement may be amended at any time, and from time to time, by an
agreement executed by both parties to this Agreement and approved by the Oversight Board to
the Successor Agency.
[SIGNATURES ON THE FOLLOWING PAGE]
THE CITY OF WEST COVINA .(the
"CITY")
By:
Andrew Pasmant, City Manager
Date:
THE SUCCESSOR AGENCY TO THE
FORMER WEST COVINA
REDEVELOPMENT AGENCY
(the "Successor Agency")
By:
Andrew Pasmant, Executive Director
Date:
ATTEST:
By:
City Clerk/Successor Agency Secretary
APPROVED AS TO FORM:
By:
Arnold M. Alvarez-Glasman
City Attorney/Successor Agency Counsel