2012 05 02 OB MinutesOVERSIGHT BOARD OF THE SUCCESSOR AGENCY
TO LA QUINTA REDEVELOPMENT AGENCY
MINUTES
Regular Meeting
WEDNESDAY, MAY 2, 2012 at 2:00 P.M.
ROLL CALL — Present: Board Members Marshall, Maysels, McDaniel,
Nelson, Osborne and Chairperson Pena
Absent: Board Member Ellis
PUBLIC COMMENT — None
CONFIRMATION OF AGENDA — Confirmed
— None
APPROVAL OF MINUTES
1. Board Member Marshall indicated that corrections should be made to the
Minutes on page 5 and 6 as follows: Board Member McDaniel's name was
referenced as making the motions and should be corrected to read Board
Member Marshall made the motion.
MOTION: A motion was made by Marshall / Maysels to approve the minutes
from the April 18, 2012 Oversight Board meeting as amended. Motion
carried 5 ayes, 0 nays, 1 absent, 1 abstain. (Board Member McDaniel
abstained due to absence at April 18, 2012 meeting.)
WRITTEN COMMUNICATIONS
1. Correspondence dated April 19, 2012 from Chairperson Pena to the
Department of Finance
Vice - Chairperson Osborne indicated that this correspondence was written
pursuant to Motion carried by the Board at the April 4, 2012 Oversight Board
meeting.
CONSENT ITEMS — None
BUSINESS ITEMS
1. Consideration of a Resolution Approving Amended Recognized Obligation
Payment Schedules of the Former La Quinta Redevelopment Agency for the
periods of January 2012 through June 2012 and July 2012 through
December 2012 with the Revisions Requested by the Department of Finance
Staff presented staff report.
MOTION: A motion was made by Maysels /Marshall to adopt Resolution No.
OB 2012 -011 approving the Amended Recognized Obligation Payment
Schedules of the Former La Quinta Redevelopment Agency for the periods of
January 2012 through June 2012 and July 2012 through December 2012
with the revisions requested by the Department of Finance
RESOLUTION NO. OB 2012 -011
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO LA QUINTA REDEVELOPMENT
AGENCY ADOPTING REVISED RECOGNIZED
OBLIGATION PAYMENT SCHEDULES FOR THE PERIODS
OF JANUARY 2012 THROUGH JUNE 2012 AND JULY
2012 THROUGH DECEMBER 2012
Motion carried 6 ayes, 0 nays, 1 absent.
2. Consideration of Revised Successor Agency Administrative Budget for the
periods of January 2012 through June 2012 and July 2012 through
December 2012 to Comply with Directions from Department of Finance
Staff presented staff report.
MOTION: A motion was made by McDaniel /Nelson to approve the Revised
Successor Agency Administrative Budgets for the periods of January 2012
through June 2012 and July 2012 through December 2012 to comply with
directions from Department of Finance. Motion carried by a vote of 6 ayes,
0 nays, 1 absent.
3. Consideration of a Resolution Making Certain Acknowledgements to with
Respect to Housing Assets of the Successor Agency to La Quinta
Redevelopment Agency Specifically Related to Property Located Within the
Watercolors Development
Staff presented staff report.
OVERSIGHT BOARD MINUTES 2 MAY 2, 2012
Chairperson Pena asked staff when the 45 year period begins. Staff
indicated that the 45 year period begins at the original date of sale.
Vice Chairperson Osborne commented that the silent second program has
worked very well for our low- income housing in La Quinta and has done well
to help people into homes and still maintain some manner of financial
stability.
MOTION: A motion was made by Osborne /Maysels to adopt Resolution
No. OB 2012 -012 making certain acknowledgments with respect to Housing
Assets of the Successor Agency to La Quinta Redevelopment Agency
specifically related to property located within the Watercolors Development
RESOLUTION NO. OB 2012 -012
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO LA QUINTA REDEVELOPMENT
AGENCY MAKING CERTAIN ACKNOWLEDGMENTS
WITH RESPECT TO HOUSING ASSETS OF THE
SUCCESSOR AGENCY TO LA QUINTA REDEVELOPMENT
AGENCY
Motion carried by a vote of 6 ayes, 0 nays, 1 absent.
STUDY SESSION - None
REPORTS AND INFORMATIONAL ITEMS
1. List of Successor Agency Assets
Chairperson Pena stated that this list was requested by the Board at the
previous meeting.
2. Update on Department of Finance Review of Oversight Board Actions
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS - None
OVERSIGHT BOARD MINUTES 3 MAY 2, 2012
ADJOURNMENT — 2:15 p.m.
A motion was made by Nelson /Osborne to adjourn. Motion carried
unanimously.
Respectfully submitted,
Lori Lafond
Oversight Board cretary
OVERSIGHT BOARD MINUTES 4 MAY 2, 2012