Oversight Board - 04-19-2012 - Page 001OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE WEST COVINA
REDEVELOPMENT AGENCY
AGENDA
West Covina City Council Chambers
1444 West Garvey Avenue, West Covina, CA 91790
Special Meeting
Thursday, April 19, 2012
4:00 p.m.
Dawn Bastin, Representative for County Superintendent of Education
Efrain Escobedo, Representative for Los Angeles County Library
Mike Gregoryk, Representative for Chancellor of the California Community Colleges
Mike Lee, Employee of former Redevelopment Agency
Fernando Oliveros, Representative for Los Angeles County Board of Supervisors
Michael Touhey, Mayor of City of West Covina
Vacant, Public Representative for County Board of Supervisors
AMERICANS WITH DISABILITIES ACT
The Board complies with the Americans with Disabilities Act (ADA). If you will need special
assistance at Board Meetings, please call (626) 939-8433 (voice) or (626) 960-4422 (TTY) from 8 to 5
Monday through Thursday, at least 48 hours prior to the meeting to make arrangements.
AGENDA MATERIAL
Agenda material is available for review at the West Covina City Clerk's office, Room 317 in City Hall,
1444 W. Garvey Avenue, West Covina and at www.westcovina.org. Any writings or documents
regarding any item on this agenda not exempt from public disclosure, provided to a majority of the
Oversight Board that is distributed less than 72 hours before the meeting, will be made available for
public inspection in the City Clerk's office, Room 317 of City Hall during normal business hours.
PUBLIC COMMENT
Any member of the public may address the Board on items within the Board's subject matter
jurisdiction during Public Comments. The Board may not take action on matters not listed on the
posted agenda. If you would like to address the Board, please complete a Speaker Card and submit to
the Board Secretary. All comments are limited to three (3) minutes per speaker.
All speakers shall observe decorum and order as specified in the Rules of Procedure of the Oversight
Board to the Successor Agency of the West Covina Redevelopment Agency.
I CERTIFY THAT A COPY OF THE COUNCIL. AGENDA FOR
THE MEETING OF ¢ I /III ZWAS POSTED IN
ACCORDANCE THE 01187 BROWN ACT AMENDMENT
DATED: ��/�" 12
West Covina Oversight Board Agenda OFFICE OF THE TYCLERK Page 1
Agenda 1_final
Special Meeting
Thursday, April 19, 2012
4:00 p.m.
A. Roll Call/Introduction
- Dawn Bastin, Representative for County Superintendent of Education (Board of
Education)
- Efrain Escobedo, Representative for Los Angeles County Library (Largest
Special Tax District)
- Mike Gregoryk, Representative for Chancellor of the California Community
Colleges
- Mike Lee, Employee of former Redevelopment Agency (Community
Development Commission)
- Fernando Oliveros, Representative for Los Angeles County Board of
Supervisors
- Michael Touhey, Mayor of City of West Covina
- Vacant, Public Representative for County Board of Supervisor
B. ['[edge of Allegiance
C. Oath of Of lce
The West Covina Assistant City Clerk shall administer the Oath of Office to the
appointees to the City of West Covina Oversight Board.
1I. Introduction oduction of Staff.
i
This is the time set aside for public comments. Please step forward to the
podium and state your name and city of residence for the record when recognized
by the Chairperson.
IV. CONSENT AG NDA:
A. Approval of Minutes:
No items.
West Covina Oversight Board Agenda Page 12
Agenda 1_final
V. BUSINESS "TK(S):
A. 1Klection cal' (.,',hair and Vice: (.;hair
Oversight Board members will need to elect a Chairperson and Vice
Chairperson. Upon the conclusion of the election(s), the Chairperson will take
their seat at the head of the dais and conduct the meeting. The Board will also
need to designate an official to whom the Department of Finance may make
requests for information and to review certain actions.
Recommended Action
Staff recommends that the Oversight Board to the Successor Agency of the West
Covina Redevelopment Agency:
a. Elect a Chairperson for the Oversight Board to the Successor Agency of the
West Covina Redevelopment Agency;
b. Elect a Vice Chairperson for the Oversight Board to the Successor Agency of
the West Covina Redevelopment Agency;
C. Designate Andrew G. Pasmant as the Executive Director or his designee
to be the Designated Official to the Department of Finance; and,
d. Adopt Resolution No. OB-0001 electing a Chairperson and Vice
Chairperson, designating a Public Official, and transmitting the
information to the California Department of Finance.
ll. Date and Time for Future Meetings
It is proposed that the Oversight Board meet the first Thursday of every month at
4:00 pm. The Board will be asked to discuss the date and the time for the
meetings that best meets their schedules and such date and time shall be
incorporated into the Oversight Board's Bylaws.
Recommended Action
It is recommended that the Board review the upcoming calendar for 2012 and
adopt Resolution No. OB-0002 setting the day, time and location for future
Oversight Board meetings.
C. Approval of Oversight hoard Resolutions adopting llylaws and Rules of
Procedure for the Oversight lloaard to the: Successor :agency of the West
Covina lte de°velopaaaent Agency.
West Covina Oversight Board Agenda Page 13
Agenda 1_final
Staff is recommending the review and adoption of Bylaws and Rules of
Procedures for the Oversight Board.
Recommended Action
Staff recommends that the Oversight Board to the Successor Agency of the West
Covina Redevelopment Agency adopt Resolution No. OB-0003 approving Bylaws
and Resolution No. OB-0004 approving Rules of Procedure for the Oversight
Board to the Successor Agency of the West Covina Redevelopment Agency.
1). Role and Iles ponsibilitics of the Oversight Board
On January 10, 2012, the City Council of the City of West Covina adopted
Resolution 2012-1 in which the City elected to become the Successor Agency to
the redevelopment agency of the City of West Covina pursuant to ABX1 26.
Successor Agency actions shall first be approved by the Oversight Board. The
Oversight Board shall have the fiduciary responsibilities to holders of the
enforceable obligations.
Recommended Action
It is recommended that the Oversight Board receive and file the report. No formal
action is required.
1-1. ["roposcd .l.,egislation that could affect Oversight Board and Successor
Agency
There are several new pieces of legislation being proposed that could affect the
roles and responsibilities of the Oversight Board in the future.
Recommended Action
It is recommended that the Oversight Board receive and file the report. No formal
action is required.
F. Recognized Obligation Payment Schedule
Assembly Bill 1X 26 (AB 1X26) requires the preparation of a Schedules of
Distribution of Future Tax Revenues also known as the Recognized Obligation
Payment Schedules (ROPS) for a six (6) month period. The ROPS lists
enforceable obligations of the Successor Agency and must be approved by
the Oversight Board. There are two ROPS' submitted for Board
consideration, one for the period of January 1, 2012 through June 30, 2012
and one for the period of July 1, 2012 through December 31, 2012. The
approved ROPS must be transmitted to the Los Angeles County Auditor
West Covina Oversight Board Agenda Page 14
Agenda 1—final
Controller, the State Controller and the State Department of Finance by April
15, 2012, however due late appointments to the Oversight Board that resulted in a
lack of quorum until recent; the April 15, 2012 timeframe could not be satisfied.
Recommended Action
It is recommended that the Oversight Board:
a. Review and approve Resolution No. OB-0005, approving the Schedules of
Distribution of Future Tax Revenues (also known as the Recognized
Obligation Payment Schedules "ROPS") for the period January 1, 2012
through June 30, 2012;
b. Review and approve Resolution No. OB-0006, approving the
Schedules of Distribution of Future Tax Revenues (also known as the
Recognized Obligation Payment Schedules "ROPS") for the period July
1, 2012 through December 31, 2012; and,
C. Direct Successor Agency staff to transmit the approved Schedules of
Distribution of Future Tax Revenues (Approved "ROPS") to the Los
Angeles County Auditor Controller, the State Controller and the State
Department of Finance.
le Successor Ageney Administrative sty ative Budget
Assembly Bill 1X 26 (AB1X 26) requires the preparation of an administrative
budget for a six (6) month period. The administrative budget lists the
estimated amount for the successor agency administrative cost for every six
month. The administrative budget must be approved by the Oversight Board.
There are two administrative budget(s) submitted for the Oversight Board's
consideration for 2 different periods; one for the period of January 1, 2012,
through June 30, 2012, and one for the period of July 1, 2012, through
December 31, 2012. The approved administrative budget(s) must be
transmitted to County Auditor -Controller for each of the six month period.
Recommended Actions
It is recommended that the Oversight Board:
a. Approve Resolution No. OB-0007, adopting the Successor Agency
Administrative Budget for January 1, 2012 through June 30, 2012; and,
b. Approve Resolution No. OB-0008, adopting the Successor Agency .
Administrative Budget for July 1, 2012 through December 31, 2012.
West Covina Oversight Board Agenda Page 15
Agenda 1_final
IL 1-lousing Successor Agency
The City designated the City of West Covina Community Development
Commission (CDC) as the "Housing Successor Agency" on January 17, 2012.
Per AB1X26, the housing functions of the former Redevelopment Agency
are transferred to the City (CDC) as the Housing Successor Agency as of
February 1, 2012. However, the fund balance of the Redevelopment Low/Mod
Housing Fund is not transferred to the CDC.
Pursuant to Health and Safety Code sections 34181 and 34176, the Oversight
Board is to direct the Successor Agency to transfer housing responsibilities and
assets to the proper entities. Certain enforceable obligations will be considered in
the current agenda by the Oversight Board in connection with the approval of the
ROPS. Furthermore, the amounts on deposit in the Low and Moderate Income
Housing Fund have not yet been transferred to the Redevelopment Obligation
Retirement Fund.
With regard to the other housing assets, section 34176 states that housing assets
are to be automatically transferred to the successor to the housing functions of the
former redevelopment agency, but Section 34181 requires the Oversight Board to
approve the transfer of housing rights to the Housing Successor Agency.
Recommended Actions
Staff recommends that the Oversight Board of the City of West Covina Successor
Agency adopt Resolution No. OB-0009 recognizing the City of West Covina
Community Development Commission (referred to as the CDC Housing
Authority) as the successor to the housing functions of the former redevelopment
agency, and approving the transfer of the housing assets of the agency (excluding
any amounts on deposit in the Low and Moderate Income Housing Fund) to the
CDC Housing Authority, after which the CDC Housing Authority may
maintain and/or dispose of such assets and retain the proceeds there from for
further affordable housing purposes.
VI. STUDY SESSION
No Items
'' III:. CLOSED SESSION
No Items
West Covina Oversight Board Agenda Page 16
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•
IX. ADJOURNMENT
Copies of staff reports or other written documentation, if any, relating to each item of business described above are
on file in the West Covina City Hall, City Clerk's Office, 1444 West Garvey Avenue, West Covina, CA 91790, and
are available for public inspection upon request during regular business hours of 8:OOam to 5:30 p.m., Monday
through Thursday.
Should any person have a question concerning any of the above agenda items prior to the meeting described herein, he or
she may contact Christopher J. Chung, Community Development Commission, either in person at the
Community Development Commission Department at the West Covina City Hall, 1444 West Garvey Avenue,
West Covina, CA 91790, or by calling via telephone at (626) 939-8401 during regular business hours.
West Covina Oversight Board Agenda Page 17
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