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MINUTES OF THE
CITY OF SAN RAMON – OVERSIGHT BOARD
August 13, 2012

A regular meeting of the Oversight Board of the City of San Ramon was held on
August 13, 2012 at 11:33 a.m. in the City Council Chamber at City Hall, 2222 Camino Ramon, Chair Richard Price presiding.
PRESENT:  Boardmembers Gary Black, Patricia Boom, Marc Fontes, Mary Lou Oliver, Scott Perkins, and Chair Richard Price.
ABSENT:  Boardmember Kevin Horan.
STAFF PRESENT:  Administrative Services Director Eva Phelps and Board Clerk Patricia Edwards.

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PLEDGE OF ALLEGIANCE

Chair Price led those present in the pledge of allegiance. 

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ANNOUNCEMENTS

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PUBLIC COMMENT

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APPROVAL OF MINUTES

(#5.1) Minutes of the May 24, 2012 regular meeting.

Mbr. Perkins’ motion to adopt the May 24, 2012 regular Oversight Board (OB) minutes was seconded by Mbr. Oliver and passed 6-0-1-0.  Mbr. Horan was absent.

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CONSENT CALENDAR

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UNFINISHED BUSINESS

Mbr. Oliver requested an update on the status of the legal counsel for the OB.  Chair Price stated that four responses to the Request for Qualifications (RFQ) were received.  After they are reviewed by Chair Price and Vice Chair Fontes, a report will be presented at the next OB meeting. 

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NEW BUSINESS

(#8.1) Resolution OB No. 2012-005 – Adopting a Recognized Obligation Payment Schedule for the Period January 1, 2013 through June 30, 2013 in Accordance with Health and Safety Code Section 34177(l) and (m).

Administrative Services Director Eva Phelps provided the report.  The deadline for submitting the Recognized Obligation Payment Schedule (ROPS) for the Period of January 1, 2013 through June 30, 2013 is September 1, 2012.  Ms. Phelps noted that the ROPS presented to the OB was updated to comply with the Department of Finance’s (DOF) required revisions.  The content is the same as the ROPS approved at the July 24, 2012 Successor Agency (SA) meeting.  Mbr. Perkins asked if there were any substantive differences between the two ROPS reports.  Mbr. Fontes noted that the DOF established its own reporting forms.  Ms. Phelps stated that the DOF made a change in the format to add a reconciliation item.  There is no change in the ROPS obligation information which is being considered by the OB.  Mbr. Boom asked if the DOF could take the $250,000 in administration funds.  She questioned how the Board would continue to function if that were to occur.  Chair Price responded that the funds are available and will be used.  Mbr. Fontes added that the City can use bond reserve funding if available for the administrative costs.  The SA has other funding sources which can be used for administrative costs.  Mbr. Perkins noted that $250,000 was provided in the original legislation.  Mbr. Fontes stated that, as implementation of the legislation evolves, the focus is on the annual revenue stream from the former Redevelopment Agency to cover existing obligations which are primarily debt service. 

Mbr. Perkins’ motion to adopt Resolution No. OB 2012-005 with the revised ROPS was seconded by Mbr. Boom and passed 6-0-1-0.  Mbr. Horan was absent.

(#8.2) Update on Assembly Bill 1484 - Redevelopment Dissolution Clean Up Legislation.

Marc Fontes, Economic Development Director, provided the report.  The “clean-up bill” was legislation proposed by the affordable housing advocates in an effort to keep the existing affordable housing fund balance available for that purpose.  The clean-up bill was expanded with additional requirements for the SA and OB.  It became a portion of the budget bill.  Staff is evaluating the three different bill summaries.  There are some new requirements for a due diligence review conducted by a licensed accountant.  This report is due on October 15, 2012.  The City provided the affordable housing asset list by the August 1, 2012 deadline to the DOF.  The next project is to complete the review of the RFQ for legal services and any additional action required by this legislation.  Ms. Phelps stated that the due diligence review is due in October and requires that an accountant be located to do the audit.  This will be an additional cost.  Mbr. Oliver asked if this requirement requires a specialist accountant who is familiar with redevelopment.  Ms. Phelps stated that the requirement is for a licensed CPA.  The City will use a firm familiar with redevelopment. 

Mbr. Boom asked when the next OB meeting will be scheduled.  Mbr. Fontes indicated that it would probably be in late September before the October 15, 2012 audit deadline.

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ADJOURNMENT

At 11:47 a.m., there being no further business, Chair Price adjourned the meeting.


Richard Price, Chair
Patricia Edwards, Board Clerk

Approved at the September 18, 2012 Oversight Board meeting 5-0-2-0; Horan and Perkins absent.

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