HomeMy WebLinkAbout2014-09-22Special Meeting Minutes
City of Huntington Beach Oversight Board of the Successor Agency
of the Former City of Huntington Beach Redevelopment. Agency
Monday, September 22, 2014
4:00 PM - Room B-8
Civic Center, 2000 Main Street
Huntington Beach, California 92648
4:00 PM — ROOM B-8
CIVIC CENTER, 2000 MAIN STREET
HUNTINGTON BEACH, CA 92648
TELECONFERENCING LOCATION: (BOARD MEMBER LUCY DUNN)
2 PARK PLAZA, SUITE 100
IRVINE, CA 92614
CALL TO ORDER — The Meeting was called to order by Mayor Harper at 4:04 PM
ROLL CALL: Bone, Carchio, Fritzal, Harper, L. Dunn (Via Conference Call)
ABSENT: A. Dunn and Delgado
SUPPLEMENTAL COMMUNICATIONS: Announced by Board Secretary - None
PUBLIC COMMENTS: This is the portion of the meeting for any member of the public to address the
Oversight Board on any matter that is within the subject matter jurisdiction of the board. The Brown Act,
with limited exception, does not allow the board or staff to discuss issues brought forth under Public
Comments. Comments should be limited to 3 minutes per person. - None
BUSINESS:
1. Adopted Oversight Board Resolutions No. 2014-04 and 2014-05 approving the Recognized
Obligation Payment Schedule (ROPS) and Administrative Budget for the Huntington
Beach Successor Agency for the Period of January 1, 2015, through June 30, 2015 in
accordance with Health and Safety Code Section 34177 and related actions
City of Huntington Beach Director of Finance, Lori Ann Farrell gave a brief oral presentation on the
ROPS and Administrative budget which were being considered for approval. She noted that the
ROPS have been presented in the same format as provided by the State. The only item not
previously requested and new to this ROPS was this 6 month period repayment of the SERAF debt
obligation from 2009 between the former Redevelopment Agency and the Housing Auhority;'of a
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little more than $1.2 million. This item could not previously be included in the ROPS until the
Finding of Completion was done. The total SERAF repayment will be approximately $3.4 million so
the Board will see this item carried over on the next few ROPS. After that loan is paid back, the
City General Fund Loans can be requested.
Board Member Bone asked about the amount of the City General Fund loans and Director Farrell
indicated that, while the amount was initially calculated as $80 million or so, State Legislation
lowered the allowable interest rates bringing the amount closer to $20 million. She also reported
that a lawsuit has been brought by one city in regard to this recalculation.
Board Member Bone followed up by asking if there was enough money coming in to make the $20
million dollar repayment, and Director Farrell said that it would take quite some time.
When questioned by Board Member Bone as to the new interest rate, Director Farrell indicated it is
close to the State Controller's LAIF rate.
Board Member Bone announced he would recuse himself from discussion and voting on ROPS line
items #2 (Hyatt Regency Project) and #13 (Hyatt/Hilton Properties).
There being no further discussion nor questions, a motion was made by Vice Chair Carchio,
second Fritzal to adopt Resolution No. 2014-04, "A Resolution of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Huntington Beach Approving the
Recognized Obligation Payment Schedule for the Period January 1, 2015 through June 30, 2015
("ROPS 14-15 B ")" and to adopt Resolution No. 2014-5, "A Resolution of the Oversight Board of
the Successor Agency to the Redevelopment Agency of the City of Huntington Beach Approving
the Successor Agency Administrative budget for the Period of January 1, 2015 through June 30,
2015."
The motion carried by the following vote
AYES: Chair Harper, Vice Chair Carchio, Bone (except ROPS Line Item #2
and #13), L. Dunn and Fritzal
RECUSED: Bone for Items #2 and #13 of the ROPS
NOES: - None
ABSENT: A. Dunn and Delgado
2. Approved and adopted the minutes of the Oversight Board Special Meeting of June 17, 2014
A motion was made by Vice Chair Carchio, second Fritzal to approve and adopt the minutes of the
Oversight Board Special Meeting of June 17, 2014 as written and on file in the office of the
Secretary of the Board. The motion carried by the following vote:
AYES: Chair Harper, Vice Chair Carchio, Bone, L. Dunn and Fritzal
NOES: None
ABSENT: A. Dunn and Delgado
MEMBER REPORTS/ANNOUNCEMENTS: None
ADJOURNMENT: The meeting was adjourned by Chair Harper at 4:14 p.m.
The Regular Meeting scheduled for Monday, October 13, 2014, 4:30 PM is CANCELLED.
The next Regular Meeting is scheduled for Monday, April 13, 2015, 4:30 PM at City Hall, 2000 Main
Street, Civic Center Lower Level, Room B-8.
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J n L. Flynn
Secretary of the Huntington Beach
Oversight Board of the Successor
Agency of the Former City of
Huntington Beach, California
Redevelopment Agency
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Chair of the Huntington Beach
Oversight Board of the Successor
Agency of the Former City of
Huntington Beach, California
Redevelopment Agency
Huntington Beach Oversight Board
Special Meeting Minutes
September 22, 2014
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