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Mr. Bell suggested going through attachment two. The issue of retiree <br /> medical and retirement liabilities on the ROPS was brought up and Mr. <br /> Ponty said that it appears that some cities were successful listing these <br /> on the ROPS. Ms. Ramirez provided some context on the matter and <br /> possible next steps. Mr. Ponty noted this would be for the prior <br /> Redevelopment Agency employees. <br /> The issues of the SERAF repayment and the Legal Aid agreement were <br /> brought up by Oversight Board Member Christensen who questioned the <br /> disposition of these items. Mr. Labadie and Ms. Ramirez provided <br /> additional context explaining how this would be paid. This Board <br /> Member further questioned the allocation of such payments. Ms. <br /> Ramirez noted that these are receivables. Mr. Labadie explained that <br /> the law provides that these funds be returned to the taxing agency. <br /> Ms. Christensen referred to the City transferring 3.6 million dollars in <br /> Housing Projects in March. This Board Member opined that these might <br /> be questionable fund transfers and Ms. Ramirez and Mr. Ponty noted this <br /> was not for discussion on the agenda today, but staff would be glad to <br /> return with further information to clarify such actions. There was some <br /> discussion about this issue. Chair Roberts said that it looks like a staff <br /> report is needed on this. Ms. Christensen said thafi she just needs more <br /> information. Member Navas concurred with getting clarification on this <br /> matter and if documents need to be amended that will happen. Mr. <br /> Ponty said that the funds in question will be retained and not expended <br /> until legal direction is provided. Ms. Christensen concurred with such <br /> approach. The Oversight Board direction to staff was to hold <br /> these funds in reserve until this is clarified by staff. <br /> Mr. Ponty reviewed the Revised ROPS with the Board and there were <br /> questions and comments about the document. Mr. Ponty explained that <br /> he spoke to the Controller's office and the State Department of Finance <br /> (DOF) recommended revising the ROPS. Regarding the $680,000 the <br /> DOF said this figure is acceptable but the County said the Oversight <br /> Board needed to ratify such action. There was a discussion about the <br /> amounts. Ms. Ramirez said that if we don't honor certain financial <br /> commitments the City could be liable. Chair Roberts, asked when this <br /> will get revised and Mr. Ponty said it has been revised and the State <br /> Department of Finance has approved it. One Member asked about the <br /> items the State DOF is inquiring about. Mr. Ponty said that one of them <br /> was the $807,000 loan repayment that was made to the City. <br /> M/S Abbors/Christensen to approve the revised ROPS. Motion carried <br /> 6-0 with Oversight Board Member Holland absent. <br /> MINUTE ORDER 12-01 <br /> VI. Information Only Report:Assets of the Former Redevelopment Agency Brian Ponty <br /> This item was moved to the 1u/y meeting. Bill Ekern <br /> VII. Information Only Report: Communications with the Department of <br /> Finance Brian Ponty <br /> This item was mo ved to the Ju/y meeting, <br />