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JULY 1, 2012 THROUGH DECEMBER 31, 2012 AND JANUARY 1, 2013 <br /> THROUGH JUNE 30, 2013 <br /> M/S Navas/Roberts to Approve the budget as stipulated in the 2rd and 3�dROPS. <br /> Motion carried unanimously. <br /> 6. Review and Approval of the 3`d ROPS <br /> Brian Ponty provided details on this ROPS and noted the additions as outlined on the staff <br /> report. Mr. Ponty said while the Department of Finance (DOF) has denied all appeals, staff <br /> would like to keep certain items in for consideration (items five and six). Member <br /> Christensen asked if a certificate of completion is presented to the Oversight Board once this <br /> is completed and Mr. Ponty confirmed. This Member also inquired about a specific payment <br /> which did not occur. Mr. Ponty said that items 12, 13 and 14 were zeroed out as well as <br /> item 21. He said that the request in this ROPS is for a total amount of$4.5 million. Mr. <br /> Ponty provided details on the source of funds to cover these obligations. <br /> Brian Ponty <br /> Review and Approval of the 3rd ROPS <br /> RESOLUTION - OB -12-02 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY <br /> APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE <br /> FOR THE PERIOD JANUARY 1, 2013 THROUGH JUNE 30, 2013 <br /> M/S Christensen/Blake approving the resolution for the 3`d ROPS. Motion carried <br /> unanimously. <br /> 7. Lathrop Property Lease—License Agreement with Herrero Contractors,Inc <br /> Mr. Ekern, Director of Community Development, provided a brief report(presentation on file) <br /> about the need for the license agreement and clarified this will also go to the City Council. <br /> RESOLUTION- OB 12-03 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY Bill Ekern <br /> APPROVING AND AUTHORIZING EXECUTION OF A LICENSE <br /> AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND <br /> HERRERO CONTRACTORS, INC. <br /> M/S Lyons/Roberts to approve resolution. Motion carried unanimously. <br /> 8. Unfunded Pension and Unfunded Retiree Health Benefit Liabilities <br /> Mr. Ponty provided the report and spoke about legacy costs of the Agency over a period of <br /> thirty years. He said that in May or June, staff spoke with the DOF stafF, and they were <br /> remarkably opaque. It was noted that approximately 10 other agencies submitted these <br /> costs under a ROPS and had the DOF agreed to fund these obligations. <br /> Mr. Ponty asked whether the Oversight Board would consider a repayment agreement. One <br /> Member inquired about specific items and she is comfortable that there is money to be paid <br /> and the fact that the DOF is in agreement with this. Mr. Ponty made a presentation (on file). <br /> He covered the unfunded retiree pension and health benefits. He also addressed the <br /> methodology used. One Member asked about the CaIPERS long term plan and Mr. Ponty <br /> responded he was not sure there was one. One Member asked if the City always made its <br /> unfunded liability payments and Mr. Ponty said that was correct. <br /> Member Christensen asked if this was a liability for years passed and Mr. Ponty confirmed <br /> that was a fact. Another member asked what is the intent and Mr. Ponty said that the goal <br /> is to receive that money to reimburse the City for making those payments. One Member <br />