HomeMy WebLinkAboutMinutes 2012-04-25 SPECIAL MEETING
6'x S MINUTES
SUCCESSOR AGENCY
OF THE
cq FAA CITY OF SOUTH SAN FRANCISCO
P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
Meeting to be held at:
MUNICIPAL SERVICES BUILDING
COMMUNITY ROOM
33 ARROYO DRIVE
SOUTH SAN FRANCISCO, CA
WEDNESDAY, APRIL 25, 2012
1. Call to Order. 9:36 p.m.
2. Roll Call. PRESENT: Councilmembers Addiego,
Matsumoto, Mullin, Vice Mayor Gonzalez
and Mayor Garbarino
ABSENT: None.
3. Public Comments — comments are limited to items on the Special Meeting
Agenda.
None.
4. Agenda Review.
None.
CONSENT CALENDAR
5. Motion to approve the Successor Agency minutes of March 28, 2012.
6. Motion to approve expense claims for Redevelopment Obligation Retirement
Fund Payments for April 25, 2012.
7. Motion to approve expense claims for Obligation Retirement Fund — Housing
Payment for April 25, 2012.
8. Present RDA Successor Agency asset list.
Motion— Vice Chairman Gonzalez /Second— Boardmember Matsumoto: to approve the Consent
Calendar. Unanimously approved by voice vote.
ADMINISTRATIVE BUSINESS
9. Update on January 2012- June 2012 Recognized Obligation Payment
Schedule ( "ROPS ") determination and updated cash flow analysis.
Director of Finance Steele provided an update on the final January 2012 -June 2012 ROPS as
approved by the Oversight Board of the Successor Agency at a Special Meeting on April 13,
2012. Director Steele summarized the Board's modifications to the Successor Agency's
approved ROPS noting that the Board added lines accomplishing retirement of certain debt,
including bonds. He conveyed his preliminary estimate of a one -time 5.4 million dollar payout
to the general fund based on the final approved ROPS.
Councilwoman Matsumoto questioned whether the City could establish a fund to support
activities similar to those supported by the former Redevelopment Agency.
City Attorney Mattas so confirmed as long as a public purpose for the use of such funds was
established.
10. Resolution No. 3 -2012 approving draft July- December 2012 Recognized
Obligations Payment Schedule ( "ROPS. ")
Finance Director Steele presented the staff report recommending approval of the July- December
2012 ROPS. He explained that AB26 required the ROPS to be approved on a six month basis.
He noted the Oversight Board had reviewed this schedule without taking any action at its April
24 meeting. The Genentech property tax settlement amount had been dropped from the ROPS
as the County had notified the City that the amount would be taken out of the Successor Agency
property tax distribution prior to advancement.
Councilman Mullin indicated that at some point in the future he would like a Friday Memo on
the status of the Oyster Point Ventures Project.
City Attorney Mattas agreed to provide such a memo.
Motion— Vice Mayor Gonzalez /Second Councilman Addiego: to Approve Resolution No. 3-
2012. Unanimously approved by voice vote.
11. Adjournment.
Being no further business, Mayor Garbarino adjourned the meeting at 9:51 p.m.
Submitted: Approved:
11 ~� is rd A. Garb LMayor Krista mlh, Cty
City of Sou' • Francisco City of South San Francisco
SPECIAL SUCCESSOR AGENCY MEETING APRIL 25, 2012
MINUTES PAGE 2