HomeMy WebLinkAboutOversight Board Reso 12-0005OVERSIGHT BOARD RESOLUTION NO. 12 -0005
A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR
AGENCY TO THE DISSOLVED THE DOWNEY COMMUNITY DEVELOPMENT
COMMISSION APPROVING THE ADMINISTRATIVE BUDGETS FOR THE
PERIOD OF JANUARY 1, 2012, THROUGH JUNE 30, 2012, AND PERIOD OF
JULY 1, 2012, THROUGH DECEMBER 31, 2012, PURSUANT TO HEALTH
AND SAFETY CODE SECTIONS 34177
WHEREAS, the Oversight Board to the Successor Agency to the dissolved
redevelopment agency functions of the Downey Community Development Commission has
been appointed pursuant to the provisions of Health & Safety Code Section 34179; and,
WHEREAS, the City of Downey ( "City "), acting in its capacity as the Successor Agency
( "Successor Agency ") to the dissolved redevelopment agency functions of the Downey
Community Development Commission ( "CDC "), duly prepared proposed Administrative Budgets
for the period of January 1, 2012, through June 30, 2012, and period of July 1, 2012, through
December 31, 2012, in accordance with Health and Safety Code sections 34171(b) and
34177(j); and,
WHEREAS, pursuant to Health and Safety Code sections 34177(j), the Oversight Board
must approve an administrative budget for a successor agency for it to become established,
valid, and operative for the applicable six -month fiscal period.
NOW, THEREFORE, THE OVERSIGHT BOARD HEREBY RESOLVES AS
FOLLOWS:
SECTION 1. The foregoing Recitals are true and correct and are incorporated herein.
SECTION 2. The Administrative Budgets covering the period of January 1, 2012,
through June 30, 2012, and period of July 1, 2012, through December 31, 2012, attached
hereto and incorporated herein by reference as Exhibit "A ", are hereby approved pursuant to
Health and Safety Code Sections 34177(j), and any other law that may apply to the approval by
the Oversight Board of the identified ROPS for the identified periods.
SECTION 3. Pursuant to Health and Safety Code section 34177(k), the Secretary or
authorized designee shall provide to the County Auditor - Controller administrative cost estimates
that are to be paid from property tax revenues deposited into the Redevelopment Property Tax
Trust Fund based on the Administrative Budgets for the identified period approved by this
Resolution.
SECTION 4. The Secretary shall certify to the adoption of this Resolution.
PASSED AND ADOPTED by the Oversight Board a �ting held on the 26 day of
April, 2012. 1)
Adria M. Jimenez, Secretary
Bria , Chair
OB RESOLUTION NO. 12 -0005
PAGE 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF DOWNEY
) ss
I, Adria M. Jimenez, Secretary to the Oversight Board, hereby certify that the foregoing
resolution was duly adopted at a meeting of the Oversight Board, held on the 26 day of April,
2012, by the following votes, to wit:
AYES: Board Members: Brossmer, Delawalla, Flores, Helvey, LaPlante,
Chair Saeki
NOES: Board Members: None
ABSENT: Board Member: Latham
ABSTAIN: Board Members: None
ATT ST:
A is M. Jimenez, Secretary
Type of Expense
January 1, 2012-
June 30, 2012
July 1, 2012 -
Dec 31, 2012
Source of Funding
Personnel / Staffing
$ 170,000.00
$ 85,000.00
Adminstrative Cost Allowance
Supplies & Support Services
$ 5,000.00
$ 2,500.00
Adminstrative Cost Allowance
Auditing Services
$ 15,000.00
$ 7,500.00
Adminstrative Cost Allowance
Legal Services
$ 40,000.00
$ 20,000.00
Adminstrative Cost Allowance
Other Professional Services
$ 20,000.00
$ 10,000.00
Adminstrative Cost Allowance
Total Administrative Budget
$ 250,000.00
$ 125,000.00
SUCCESSOR AGENCY TO THE
DISSOLVED DOWNEY
COMMUNITY DEVELOPMENT
COMMISSION
ADMINISTRATIVE BUDGET