2020 09 30 FAC Minutes
FINANCIAL ADVISORY COMMISSION MINUTES 1 SEPTEMBER 30, 2020
SPECIAL MEETING
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, SEPTEMBER 30, 2020
CALL TO ORDER
A special meeting of the Financial Advisory Commission (Commission) was called to order
at 4:00 p.m. by Chairperson Mills.
This meeting was held by teleconference pursuant to Executive orders N-25-20, N-29-
20, N-33-20, and N-35-20, executed by the Governor of California in response to the
state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling
teleconferencing accommodations by suspending or waiving specified provisions of the
Ralph M. Brown Act (Government Code § 54950 et seq.).
PRESENT: Commissioners Batavick, Hoffner, Hunter, Rosen, Twohey and Chairperson
Mills
ABSENT: None
VACANCY: One
STAFF PRESENT: Finance Director Romero, Financial Services Analyst Hallick,
Management Assistant Delgado, Design and Development Director Castro, and
Community Resources Director Escobedo
PLEDGE OF ALLEGIANCE
Commissioner Rosen led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA None
CONFIRMATION OF AGENDA
Chairperson Mills requested a verbal update from staff on the Federal Emergency
Management Agency contract services with Vanir.
The Commission concurred.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS - None
CONSENT CALENDAR ITEMS
1. APPROVE SPECIAL MEETING MINUTES DATED AUGUST 5, 2020
2. RECEIVE AND FILE FOURTH QUARTER 2019/20 TREASURY REPORTS
FOR APRIL, MAY, JUNE 2020
FINANCIAL ADVISORY COMMISSION MINUTES 2 SEPTEMBER 30, 2020
SPECIAL MEETING
Motion A motion was made and seconded by Commissioners Rosen/Batavick to approve
the Consent Calendar, as submitted. Motion passed: ayes 6, noes 0, vacancy 1.
BUSINESS SESSION
1. APPROVE STAFF RECOMMENDATION FOR ISSUANCE AND SALE OF
SUBORDINATE TAX ALLOCATION REFUNDING BONDS
Finance Director Romero presented the staff report, which is on file in the Finance
Department.
Finance Director Romero provided the Commission with an overview of the process for
bond refinancing, anticipated savings and tax incentives, estimated cost of issuance, and
the proposed timeline for refinancing. Suzanne Harrell, Managing Director, from Harrell
and Company the financial and municipal advisor for the proposed bond refinance,
explained the current market demand for municipal bonds and costs associated with bond
sales.
Motion A motion was made and seconded by Commissioners Hunter/Hoffner to approve
staff recommendation for issuance and sale of subordinate tax allocation refunding bonds.
Motion passed: ayes 6, noes 0, vacancy 1.
2. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO AUDIT AND
FORMULATE THE ANNUAL MEASURE G SALES TAX OVERSIGHT
COMPLIANCE REPORT FOR FISCAL YEAR 2019/20
Finance Director Romero presented the staff report, which is on file in the Finance
Department.
Finance Director Romero explained the scope and purview of the report and the list of
Commissioners who assisted with formulating this report in the past. Commissioners
Batavick and Rosen expressed their willingness to audit and formulate the annual
Measure G sales tax oversight compliance report for fiscal year 2019/20.
Motion A motion was made and seconded by Commissioners Hoffner/Hunter to appoint
Commissioners Batavick and Rosen to audit and formulate the annual Measure G sales
tax oversight compliance report for fiscal year 2019/20. Motion passed: ayes 6, noes 0,
vacancy 1.
3. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO SERVE ON
THE REVIEW AND SELECTION COMMITTEE FOR REQUEST FOR
PROPOSALS (RFP) FOR ACTUARIAL CONSULTING AND TECHNOLOGY
SERVICES
Finance Director Romero presented the staff report, which is on file in the Finance
Department.
Finance Director Romero provided the Commission with an overview of the RFP
and purpose; said it was ; and
outlined the anticipated proposed timeline for proposals review and selection.
FINANCIAL ADVISORY COMMISSION MINUTES 3 SEPTEMBER 30, 2020
SPECIAL MEETING
Commissioners Hunter and Twohey expressed their willingness to serve on the review
and selection committee for the RFP for Actuarial Consulting and Technology Services.
Motion A motion was made and seconded by Commissioners Batavick/Hoffner to
appoint Commissioners Hunter and Twohey to serve on the review and selection
committee for the RFP for Actuarial Consulting and Technology Services. Motion passed:
ayes 6, noes 0, vacancy 1.
4. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO REVIEW THE
2004 INTERFUND LIBRARY DEVELOPMENT IMPACT FEE FUND LOAN
Financial Services Analyst Hallick presented the staff report, which is on file in the Finance
Department.
Commissioners Hoffner and Mills expressed their willingness to review the 2004 interfund
Library Development Impact Fee Fund loan.
Motion A motion was made and seconded by Commissioners Twohey/Rosen to appoint
Commissioners Hoffner and Mills to review the 2004 interfund Library Development
Impact Fee Fund loan. Motion passed: ayes 6, noes 0, vacancy 1.
5. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
PARTICIPATE IN A FUTURE SHORT-TERM VACATION RENTAL (STVR)
SUBCOMMITTEE
Financial Services Analyst Hallick presented the staff report, which is on file in the Finance
Department.
The Commission suggested appointing three Commissioners to the STVR subcommittee.
Commissioners Hoffner, Hunter, and Mills expressed their willingness to participate in a
future STVR subcommittee.
Motion A motion was made and seconded by Commissioners Rosen/Batavick to appoint
Commissioners Hoffner, Hunter, and Mills to participate in a future STVR subcommittee.
Motion passed: ayes 6, noes 0, vacancy 1.
STUDY SESSION None
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Finance Director Romero presented the staff report, which is on file in the Finance
Department.
Finance Director Romero announced effective September 14, 2020, that the City recruited
Daniele Batuta as an Account Technician and she will be primarily responsible for accounts
receivables in the Finance Department; and thanked the Commissioners for their
willingness to continue to serve on the Commission and participate in the variety of ad-
hoc committees.
FINANCIAL ADVISORY COMMISSION MINUTES 4 SEPTEMBER 30, 2020
SPECIAL MEETING
The Commission and staff discussed what is expected to be reviewed by the Ad-Hoc
Coronavirus Aid, Relief, and
Economic Security (CARES) Act reporting dates; Federal Emergency Management Agency
(FEMA) requirements and new guidelines; and the extent of services provided by Vanir
FEMA services consultant, for FEMA and CARES
Act management and reporting.
2. FIRST QUARTER 2020 (JANUARY-MARCH) SALES TAX UPDATE FOR THE
CITY OF LA QUINTA
Financial Services Analyst presented the staff report, which is on file in the Finance
Department.
General discussion followed regarding the collection of Measure G sales tax.
3. LA QUINTA COVID-19 SMALL BUSINESS EMERGENCY ECONOMIC RELIEF
PROGRAM (Program) verbal update
Staff said a total of $807,867 has been disbursed as of September 24, 2020 and that a
total of 83 individual businesses have been assisted by the program.
4. FISCAL YEAR 2019/20 PRELIMINARY YEAR-END BUDGET REPORT
verbal update
Finance Director Romero said that the City is still preparing items for 2019/20 fiscal year
end audit, which are due on Friday, October 2, 2020 and provided an update to the
Commission on the status for the year-end budget report.
5. VACANT FINANCIAL ADVISORY COMMISSION APPOINTMENT verbal
update
Finance Director Romero said that staff is proposing to do a recruitment for the vacant
Commissioner position, with an ending term of June 30, 2023, and anticipates Council
will conduct interviews at the October 20, 2020 regular meeting.
COMMISSIONER ITEMS
1. HIGHWAY 111 CORRIDOR PROJECT (Project) verbal update
Staff provided the Commission with an update on the RFP for the project. Staff noted
that on September 15, 2020, Council approved an agreement for contract services with
GHD Inc to provide form-based code and planning and engineering services for the
project and explained the scope of work and terms of the agreement. The Commission
and staff discussed the involvement of property owners for the businesses along Highway
111 during the project plan and future stages, and the analysis for the projected revenue
and benefits of the project.
2. SUBCOMMITTEE REVIEW OF POLICE SERVICES verbal update
Community Resources Director Escobedo thanked Commissioners Batavick and Rosen for
their involvement in the subcommittee conducting the review and evaluation of police
service levels; said the subcommittee reviewed cost factors, crime data, police service
FINANCIAL ADVISORY COMMISSION MINUTES 5 SEPTEMBER 30, 2020
SPECIAL MEETING
efficiency, the various annual studies for police services prepared by Matrix Consulting
Group, and the priority of community safety.
3. PUBLIC SAFETY CAMERA SYSTEM (System) verbal update
Staff said Council received an updated on this project at the September 15, 2020 meeting
via a departmental report and another update would be presented at the October 6, 2020
meeting to consider proceeding with advertisement and publication of bid on the
installation and maintenance for the System. Staff also noted the following items have
been completed:
Staff released an online community survey via Survey Monkey,
Provided 4 updates to all City Commissions,
Held 4 community meetings and 2 focus groups,
Community research was completed by Probolsky Research,
Created policies to govern the system,
Visited and toured 2 cities with public safety camera systems,
Distributed Request for Qualifications (RFQ) for vendors,
Conducted a 90-day pilot program of a camera system at street intersections,
Hosted 22 PSCS viewing parties at City Hall of top three vendors (90-day pilot
program), and
Retained a firm to design a comprehensive city-wide camera system.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Twohey/Rosen to adjourn this meeting at 5:32 p.m. Motion passed: ayes 6, noes 0,
vacancy 1.
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California