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MINUTES OF THE
CITY OF SAN RAMON – OVERSIGHT BOARD
January 10, 2013

A regular meeting of the Oversight Board of the City of San Ramon was held on
January 10, 2013 at 4:34 p.m. in the City Council Chamber at City Hall, 2222 Camino Ramon, Vice Chair Marc Fontes presiding.
PRESENT:  Boardmembers Patricia Boom, Mary Lou Oliver, Scott Perkins, and Vice Chair Marc Fontes.
ABSENT:  Boardmembers Gary Black and John Nejedly.
STAFF PRESENT:  City Manager Greg Rogers, Administrative Services Director Eva Phelps,
and Board Clerk Patricia Edwards.

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PLEDGE OF ALLEGIANCE

Vice Chair Fontes led those present in the pledge of allegiance.

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ANNOUNCEMENTS

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PUBLIC COMMENT

Roz Rogoff provided a copy of the “Tax Relief and Local Government” excerpt from the Governor’s Budget Summary.  The purpose of Redevelopment dissolution was to take tax increments designed to go to the Redevelopment Agencies and divert them to fund the state’s deficit.  Sufficient funds have to be available to the Successor Agency to pay the Recognized Obligation Payment Schedules (ROPS).  Any surplus funds from the sale of Redevelopment assets will be divided among the represented agencies.  Although the objective is to get the maximum price for the sale of the Mudd’s property, she believes that the building should be saved.  She noted that if the Successor Agency (SA) has a long range property management plan, approved by the Department of Finance, the City could keep the Mudd’s building.  She asked the Board to consider her request. 

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APPROVAL OF MINUTES

(#5.1) Minutes of the December 3, 2012 regular meeting.

Mbr. Oliver’s motion to adopt the December 3, 2012 regular Oversight Board minutes was seconded by Mbr. Perkins and passed 4-0-2-0.  Mbrs. Black and Nejedly were absent.

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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 on All Other Funds (Excluding the Low and Moderate Income Housing Fund) of the Former San Ramon Redevelopment Agency.

Eva Phelps, Administrative Services Director, reported that this is the first step in the approval process for the Due Diligence Review on All Other Funds (Excluding the Low and Moderate Income Housing Fund) of the Former San Ramon Redevelopment Agency.  She explained the Due Diligence Review which is an analysis of eleven defined procedures to determine the current status of various assets held by the former Redevelopment Agency.  The results of the Review determined that there is no unobligated balance of cash or cash equivalents to be remitted to the county for disbursement to taxing entities.  The cash retained as of June 30, 2012 is needed to satisfy the obligations of the 2012-13 Recognized Obligation Payment Schedules (ROPS).

Mbr. Oliver stated that the staff report is very confusing and that the verbal explanation was very helpful.  She requested that future staff reports include a page providing an overview explaining the goal of each attachment.  Mbr. Boom concurred.  Ms. Phelps stated that legal counsel was needed to assist with the citations.  She added that the Review is very repetitive.  Ms. Phelps stated that future staff report would provide an explanation for each procedure and attachment.  Mbr. Perkins asked if the accounting firm which conducted the audit has provided this Review for other agencies.  Ms. Phelps replied that the firm worked with three other cities.  She noted that this Review was more difficult than the Due Diligence Review of the Low and Moderate Income Housing Fund.  The audit firms had questions regarding the state’s procedures.  Mbr. Perkins asked if the state responded to the Review of the Low and Moderate Income Housing Fund.  Ms. Phelps reported that she received a letter from the state accepting the Due Diligence Review as is.  Mbr. Perkins requested that this letter be provided to the OB.  Ms. Phelps added that the state was concerned with unspent bond proceeds.  The state requested proof that the bond proceeds were restricted to housing projects.  Vice Chair Fontes explained that the purpose of the procedures was to identify: what had actually been transferred to the SA; what transactions had taken place over certain periods of time; and which restricted funds or noncash assets are available.  Mbr. Oliver stated that the Review now makes sense.  Mbr. Boom added that the verbal report was very helpful. 

Vice Chair Fontes opened the public comment.  There were no requests to address this item.  Vice Chair Fontes closed the public comment.   

Mbr. Oliver’s motion to accept the Review was seconded by Mbr. Perkins and passed 4-0-2-0.  Mbrs. Black and Nejedly were absent.

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The OB discussed the date for the follow-up meeting and tentatively set the meeting for January 17, 2013 at 5:00 p.m.

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ADJOURNMENT

At 5:02 p.m., there being no further business, Vice Chair Fontes adjourned the meeting.


Marc Fontes, Vice Chair
Patricia Edwards, Board Clerk

Approved at the February 21, 2013 Oversight Board meeting 4-0-2-1; Mbrs. Black and Nejedly abstain; Mbr. Perkins absent.

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