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November 2, 2012

A regular meeting of the Oversight Board of the City of San Ramon was held on
November 2, 2012 at 9:00 a.m. in the Main City Conference Room at 2226 Camino Ramon, Chair Richard Price presiding.
PRESENT:  Boardmembers Gary Black, Marc Fontes, John Nejedly, Mary Lou Oliver, Scott Perkins, and Chair Richard Price.
ABSENT:  Boardmember Patricia Boom
STAFF PRESENT:  City Manager Greg Rogers, Board Attorney Craig Labadie, Administrative Services Director Eva Phelps, and Deputy Board Clerk Renee Beck.

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

Mbr. Perkins’ motion to adopt the September 18, 2012 regular Oversight Board minutes was seconded by Vice Chair Fontes and passed 5-0-1-1.  Mbr. Boom was absent and Mbr. Nejedly abstained.

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(#8.1) Resolution OB No. 2012-007 – Approving the Due Diligence Review of the Low and Moderate Income Housing Fund of the Former San Ramon Redevelopment Agency.

City Manager Greg Rogers introduced the item.  He stated that the State has mandated a Due Diligence Review of the Housing Funds of the former Redevelopment Agency.  This Review must be approved by the Oversight Board.  The independent auditors selected were approved by the County.  He stated that the Successor Agency has approved the report and that this is the second of two required meetings of the Oversight Board to obtain approval.  Administrative Services Director Eva Phelps stated that the purpose of the report was to show how the low-mod housing funds were moved to the new agency.  This included a review of spending at various dates (January 31, 2011, January 31, 2012, and June 30, 2012).  It also included information regarding how the agency name was changed in the accounting records and bank records and a test of expenditures at various dates to see if there were any transfers.  The report shows all the assets of the low-moderate housing and any bond proceeds which will be kept in place to cover debt.  There were no liquid funds on June 30, 2012; therefore, no cash balance available to remit to the State.

Chair Price asked if the report followed all the agreed upon procedures and provided all the required information to make this a routine action of the Oversight Board.  Board Attorney Labadie stated that it provides all the required information.

Mbr. Oliver’s motion to adopt Resolution No. OB 2012-007 was seconded by Mbr. Perkins and passed 6-0-1-0.  Mbr. Boom was absent.

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At 9:10 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. Boom abstain.

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