HomeMy WebLinkAboutMinutes - 02-21-13 Regular MeetingMinutes of the Oversight Board to the Successor Agency
to the Dissolved Downey Community Development Commission
February 21, 2013 — Regular Meeting
The Oversight Board to the Successor Agency to the Dissolved Downey Community
Development Commission held a Regular Meeting at 1:00 p.m., February 21, 2013, in the
Council Chambers of Downey City Hall, 11111 Brookshire Avenue, Downey, California.
PRESENT: Board Members:
EXCUSED:
Brian Saeki, City of Downey — Chair
Donald LaPlante, Downey Unified School District — Vice -Chair
Roger C. Brossmer, LA County Sanitation Districts #2 & #18
Ali Delawalla, Community Colleges
Jessica Flores, Downey Employee Association
Frederick W. Latham, LA County Board of Supervisors, District 4
Stephen W. Helvey, LA County Board of Supervisors, District 4
ALSO PRESENT:
Ed Velasco, Housing Manager, City of Downey
Adria M. Jimenez, Oversight Board Secretary
3. PLEDGE OF ALLEGIANCE
The Flag Salute was led by Oversight Board Vice -Chair LaPlante.
4. PUBLIC COMMENTS
Board Chair Saeki opened Public Comments. Having no one come forward Public Comments
was closed.
5. APPROVE THE MINUTES OF THE OVERSIGHT BOARD FOR THE REGULAR MEETING OF
DECEMBER 20, 2012; AND THE ADJOURNED REGULAR MEETING OF JANUARY 10,
2013.
It was moved by Board Member Delawalla, seconded by Board Member Flores, and carried 5 -0-
2, with Board Member Latham abstaining and Board Member Helvey excused, to approve the
Minutes of December 20, 2012.
It was moved by Board Member Delawalla, seconded by Board Member Flores, and carried 6 -0-
1 with Board Member Helvey excused, to approve the Minutes of January 10, 2013.
6. ADOPTED RESOLUTION NO. OB 13 -0014, A RESOLUTION OF THE OVERSIGHT BOARD
TO THE DOWNEY SUCCESSOR AGENCY APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (ROPS) FOR THE PERIOD OF JULY 1, 2013 THROUGH
DECEMBER 31, 2013, PURSUANT TO HEALTH AND SAFETY CODE SECTIONS 34177
AND 34180.
Board Member Latham asked if this will came to the Oversight Board,
Mr. Velasco advised that any money turned over to them will be submitted to finalize the
process.
Chair Saeki advised this could be in June.
Mr. Velasco advised that the estimated payments are built into RODS.
Vice -Chair LaPiante asked why the state has different positions on the loan agreements.
Mr: Velasco explained that part of the legislation invalidated all Agency to City loans; a clean up
of the legislation has provided another mechanism for Cities to recover the obligations.
Mr. Velasco stated that the language dictates responsibility limits on interest that can be
charged on the transactions. And that the Board may use its legal counsel to provide additional
guidance.
Board Member Latham stated it was his understanding that the City can recalculate interest
earned retroactively.
Chair Saeki stated that is correct with master loan agreements for legitimate expenses such as
project and staffing costs. They are objecting to gross misuse of funds through master
agreements;
Board Member Latham asked in each case the information is coming back to this Oversight
Board per the state.
Mr. Velasco responded in the affirmative.
It was moved by Board Member Brossmer, seconded by Board Member Latham and carried 8-
0 -1, with Board Member Helvey excused, to adopt the resolution.
7. STAFF COMMENT
Mr. Velasco did not have any comments.
8. ADJOURNMENT
The meeting adjourned at 1:20 pm.
a_4x1LLE_ 164^c_� —
A . 1A M. JIMENEZC
; CM BRIAN SAEKI
Oversight Board Secretary Oversight Board Chair