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MINUTES OF THE
CITY OF SAN RAMON – OVERSIGHT BOARD
October 26, 2012

A regular meeting of the Oversight Board of the City of San Ramon was held on October 26,  2012 at 11:00 a.m. in the Main City Conference Room at 2226 Camino Ramon, Chair Richard Price presiding.
PRESENT:  Boardmembers, Patricia Boom, John Nejedly, Marc Fontes, and Chair Richard Price.
ABSENT:  Boardmembers Gary Black, Mary Lou Oliver, and Scott Perkins.
STAFF PRESENT:  City Manager Greg Rogers, Legal Counsel Craig Labadie, and Board Clerk Patricia Edwards.

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PLEDGE OF ALLEGIANCE

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ANNOUNCEMENTS

Chair Price welcomed new Board member John Nejedly.

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PUBLIC COMMENT

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APPROVAL OF MINUTES

(#5.1) Minutes of the September 18, 2012 regular meeting.

The Board Clerk noted that a quorum of the attending members was not present so approval of the minutes was deferred to a future meeting.

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CONSENT CALENDAR

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UNFINISHED BUSINESS

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NEW BUSINESS

(#8.1) Accept the Due Diligence Review of the Low and Moderate Income Housing Fund of the Former San Ramon Redevelopment Agency and Hold a Public Comment Session.

Vice Chair Fontes explained that the process.  The Oversight Board (OB) accepts the report and conducts a Public Comment of the Review.  At the follow up meeting, the OB considers adopting the Review.  Five business days must elapse between the two OB meetings.  The Due Diligence Review is a requirement of AB 1484.  The Review format documents legal citations, suggested procedures for review, and the results of the Review by the independent auditor.  He reported that the former Redevelopment Agency did a very significant bond issue in 2006 which directed the majority of the Agency’s available funds to debt service.   There is no unobligated available cash for allocation to taxing entities. 

Chair Price asked Legal Counsel Labadie if he reviewed the Report.  Mr. Labadie stated that he reviewed the Report but he is not qualified to comment on the financial aspects.  In terms of the process, he stated that the OB is required to conduct a Public Comment and forward any questions regarding the analysis and conclusions to staff.  The Board should meet again no sooner than five days to take action on the Review and forward it to the County and Department of Finance.  Chair Price asked if Mr. Labadie considered the Review’s contents to be routine and if there were any significant issues to be considered by the OB.  Mr. Labadie stated that the goal is to identify funds which are not burdened by enforceable obligations so that they can be transferred to the taxing entities.  The same process will be done for the Redevelopment Due Diligence Review.  The deadline for the OB to take action on the Redevelopment Review is January 15, 2013.  Chair Price asked for clarification regarding the Public Comment process.  Mr. Labadie stated that the statute requires a Public Comment session.  The OB complied with the requirements of the Brown Act and provided an opportunity for interested parties to obtain the report and provide comments.  There were no requests to address this item and Mr. Labadie stated that no additional action is required by the OB.  The OB discussed scheduling the follow up meeting and tentatively set a date for November 2, 2012. 

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ADJOURNMENT

At 11:12 a.m., there being no further business, Chair Price adjourned the meeting.


Richard Price, Chair
Patricia Edwards, Board Clerk

Approved at the December 3, 2012 Oversight Board meeting 5-0-1-1; Mbr. Nejedly absent, Mbr. Perkins abstain.

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