HomeMy WebLinkAbout2012-11-13 e-packetREGULAR MEETING
4
n
OVERSIGHT BOARD FOR THE
c'��rroRS�' SUCCESSOR AGENCY TO THE CITY OF
SOUTH SAN FRANCISCO
REDEVELOPMENT AGENCY
P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
CITY HALL
LARGE CONFERENCE ROOM, TOP FLOOR
400 GRAND AVENUE
TUESDAY, NOVEMBER 13, 2012
2:00 P.M.
PEOPLE OF SAN MATEO COUNTY
You are invited to offer your suggestions. In order that you may know our method of conducting
Board business, we proceed as follows:
The regular meetings of the South San Francisco Oversight Board for the Successor Agency to the
City of South San Francisco Redevelopment Agency are held on the second Tuesday of each month
at 2:00 p.m. in the in the Large Conference Room, Top FIoor at City Hall, 400 Grand Avenue, South
San Francisco, California.
In accordance with California Government Code Section 54957.5, any writing or document that is a
public record, relates to an open session agenda item, and is distributed less than 72 hours prior to a
regular meeting will be made available for public inspection in the City Clerk's Office located at City
Hall. If, however, the document or writing is not distributed until the regular meeting to which it
relates, then the document or writing will be made available to the public at the location of the
meeting, as listed on this agenda. The address of City Hall is 400 Grand Avenue, South San
Francisco, California 94080.
In compliance with Americans with Disabilities Act, if you need special assistance to participate in
this meeting, please contact the South San Francisco City Cleric's Office at (650) 877 -8518.
Notification 48 hours in advance of the meeting will enable the City to make reasonable
arrangements to ensure accessibility to this meeting.
Chairperson-
Nell Cullen
Selected by:
Largest Special District of the type in H &R
Code Section 34188
Vice Chair:
Selected by•
Denise Porterfield San Mateo County Superintendent of Schools
Deputy Superintendent, Fiscal and Operational Services
San Mateo County Office of Education
Board Members:
Mark Addiego
Councilmember, City of South San Francisco
Alternate: Barry Nagel
City Manager, City of South San Francisco
Gerry Beaudin
Principal Planner, City of South San Francisco
Selected by:
Mayor of the City of South San Francisco
Mayor of the City of South San Francisco
Barbara Christensen Chancellor of California Community College
Director of Community /Government Relations,
San Mateo County Community College District
Reyna Farrales
Deputy County Manager, San Mateo County
Paul Scannell
Counsel
Craig Labadie
San Mateo County Board of Supervisors
San Mateo County Board of Supervisors
(Public Member)
Advisory'
Marty Van Duyn — Assistant City Manager, City of South San Francisco
Jim Steele — Finance Director, City of South San Francisco
Steve Mattas — City Attorney, City of South San Francisco
Krista Martinelli — City Clerk, City of South San Francisco
Armando Sanchez -- Redevelopment Consultant, City of South San Francisco
CALL TO ORDER
ROLL CALL
PLEDGE OF ALLEGIANCE
AGENDA REVIEW
OVERSIGHT BOARD REGITI AR MEETING NOVEMBER 13, 2012
AGENDA PAGE; 2
PUBLIC COMMENTS
Comments from members of the public on items not on this meeting agenda. The Chair may set time
limit for speakers. Since these topics are non- agenda items, the Board may briefly respond to
statements made or questions posed as allowed by the Brown Act (Government Code Section
54954.2). However, the Board may refer items to staff for attention, or have a matter placed on a
future agenda for a more comprehensive action report.
MATTERS FOR CONSIDERATION
1. Motion to approve the respective Minutes of the Regular Meeting of October
9, 2012 and Special Meeting of October 19, 2012.
2. Discussion pertinent to scheduling a Special Meeting in January 2013 for
approval of the Due Diligence Review (DDR)- Non - Housing Funds after such
DDR is presented for Board review and public comment at the Regular
Meeting of January S, 2013.
3. Authorize Oversight Board Chairman to send letter to the State of California
Department of Finance requesting guidance about unfunded pension and
retiree health liabilities being enforceable obligations of the Successor Agency
of a Redevelopment Agency.
4. Future Agenda Items.
a. Report on any determination by the State of California Department
of Finance on unfunded pension and liabilities being an enforceable
obligation of the Successor Agency of a Redevelopment Agency.
ADJOURNMENT
OVERSIGHT BOARD REGITLAR MEETING N {)1VEMBER 13, 2012
AGENDA PAGE 3
REGULAR MEETING
o
MINUTES
v o
OVERSIGHT BOARD FOR THE
rro SUCCESSOR AGENCY TO THE CITY OF
SOUTH SAN FRANCISCO
REDEVELOPMENT AGENCY
P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
CITY HALL
LARGE CONFERENCE ROOM, TOP FLOOR
400 GRAND AVENUE
TUESDAY, OCTOBER 9, 2012
2.00 P.M.
CALL TO ORDER Time: 2:00 p.m.
POT.T. (SAT T
Present: Boardmembers Addiego, Beaudin, Christensen
and Scannell, Vice Chairperson Porterfield and
Chairperson Cullen.
Absent: Boardmember Farrales.
PLEDGE OF ALLEGIANCE Led by Boardmember Christensen.
At the outset of the meeting, Chairperson Cullen advised the September 12, 2012 Regular Meeting
was cancelled due to lack of Agenda Items.
AGENDA REVIEW
None.
PUBLIC COMMENTS
Comments from members of the public on items not on this meeting agenda. The Chair may set time
limit for speakers. Since these topics are non - agenda items, the Board may briefly respond to
statements made or questions posed as allowed by the Brown Act (Government Code Section
54954.2). However, the Board may refer items to staff for attention, or have a matter placed on a
future agenda for a more comprehensive action report.
None.
MATTERS FOR CONSIDERATION
Motion to approve the Minutes of the Regular Meeting of August 14, 2012.
Motion— Boardmember Scannell /Second— Vice Chairperson Porterfield: to approve the Minutes of
the Regular Meeting of August 14, 2012 with revisions to Items 9 and 10 as recommended by
Chairperson Cullen. Approved by the following voice vote: AYES: Boardmembers Beaudin,
Christensen and Scannell, Vice Chairperson Porterfield and Chairperson Cullen. NOES: None.
ABSTAIN: Boardmember Addiego. ABSENT: Boardmember Farrales.
2. Presentation of results of County Auditor Review of ROPS III.
Finance Director Steele presented the staff report and advised this informational item concerned the
results of the County Auditor Controller Review of the Recognized Obligation Payment Schedule III
( "ROPS III ") for the period January through June 2013, which the Board approved at its Regular
Meeting on August 14, 2012. The County did not object to any portions of the ROPS III, but noted:
1) the new obligations that were included on ROPS III; 2) the ongoing obligations specified in ROPS
III; and 3) observed that the Successor Agency is staying within the Administrative Allowance.
Director Steele advised the change in funding sources between the prior ROPS and ROPS III was due
to shifting reliance from reserves which had been exhausted, including the Low and Moderate
Income Housing Fund and bond reserves. Additionally, Redevelopment Property Tax Trust Fund
(RPTTF) was identified as a source of funding.
Director Steele noted that since receipt of the County's Review, the State Department of Finance
( "DOF ") rejected four items on ROPS III. The rejected items were as follows: (1) two housing
replacement units for $900,000 (line item 32 on ROPS III); (2) $12,000 in staff time associated with
these housing units (line item 33 on ROPS III); (3) bond proceed restrictions (line item 77 on ROPS
III) and (4) administrative costs (line item 78 on ROPS III). Staff was preparing to submit an appeal
of DOF's determinations.
In response to questions from Chairman Cullen and Boardmember Christensen, Director Steele and
Assistant City Manager Van Duyn advised that a determination on line items 32 and 33 would
depend on whether these former Redevelopment Obligations survived the changes to Redevelopment
Law.
Based on various statutory time lines, Counsel Labadie opined there should be some resolution to the
planned appeal by December 31, 2012.
3. Update on 2006 RDA Bonds Escrow/Trust Account.
Director of Finance Steele presented the informational staff report advising that per direction from
the Oversight Board on the Recognized Obligations Payment Schedule ( "ROPS ") for the period of
January 1, 2012 through June 30, 2012, left -over funds from the former Redevelopment Agency as of
June 30, 2012 were deposited to an escrow or trust account held by Deutsche Bank. The Board
authorized up to $60,000,000to fund this account to pay off the 2006 RDA Bonds at their first call
OVERSIGHT BOARD REGULAR MEETING OCTOBER 9, 2012
MINUTES PAGE 2
date in 2016. On September 6, 2012, staff deposited $50,216,735.58 into this account. Net bank
fees, the total deposit was $50,195,885.58. Director Steele further provided an updated estimate of
the funding needed to call the bonds. The payoff amount as of August 31, 2016 is estimated at
$56,775,000. While a few factors might change this number, including a projected maximum of
$998,000 in RPTTF Funds, funds expected to be on hand after the Due Diligence Review in January
2013 should more than cover the obligation.
In response to a question from Boardmember Scannell, Director Steele explained Deutsche Bank was
selected as the winning bidder pursuant to a sealed bid process approved by Bond Counsel. The
lowest bid offering the highest yield was required for selection.
4. Transmittal of and Receive Public Comments on Former Low and Moderate
Income Housing Fund Due Diligence Review of Cash and Cash Equivalent
Available for Disbursement to Taxing Entities.
Director of Finance Steele presented the informational staff report advising that Assembly Bill 1484
required an audit of former Redevelopment Agencies to verify the unobligated balance available from
the former Low to Moderate Income Housing Fund ( "LMIHF ") for distribution to taxing agencies.
Staff contracted with Badawi and Associates, CPA, to complete the audit. On October 1, 2012, staff
transmitted the LMIHF audit to the DOF, State Controller and County Auditor Controller as required
under AB 1484. The audit confirmed LMIHF total assets of $30,789,162. Of that amount,
$27,802,350 is unobligated and will be distributed to taxing agencies in November 2012. The
Agency will retain $2,986,812. This remaining $2,986.812 in assets consists of 1999 housing bond
proceeds of $2,381,532, the bond reserve of $326,158 and $270,372 related to debt service and
accounts payable. Pursuant to AB 1484, presentation of the audit at this meeting serves as the
Oversight Board's introduction of the item and triggers the five day public comment period that is
required to take place before the Oversight Board meeting to vote to approve the audit. The Board
has scheduled a Special Meeting for approval of the audit on October 19t'- the earliest mutually
convenient date for Boardmembers after expiration of the 5 day period.
5. Future Agenda Items.
a. Report on any determination by the State of California Department
of Finance on unfunded pension and liabilities being an enforceable
obligation of the Successor Agency of a Redevelopment Agency.
Chairperson Cullen advised he would bring a draft letter for Board authorization at the next meeting.
The letter directed to DOF would request guidance about unfunded pension and liabilities being an
enforceable obligation of the Successor Agency of a Redevelopment Agency.
OVERSIGHT BOARD REGULAR MEETING OCTOBER 9, 2012
MINU "I'ES PAGE 3
ADJOURNMENT
Motion— Boardmember Addiego /Second— Boardmember Scannell: to adjourn the meeting.
Approved by the following voice vote: AYES: Boardmembers Addiego, Beaudin, Christensen and
Scannell, Vice Chairperson Porterfield and Chairperson Cullen. NOES: None. ABSTAIN: None.
ABSENT: Boardmember Farrales.
Pursuant to the above motion, Chairperson Cullen adjourned the meeting at 2:37 p.m.
Submitted: Approved:
*6outh ' e i, Cl k Neil Cullen, Chairperson
S ran sco Oversight Board for the Successor Agency to the
City of South San Francisco Redevelopment
Agency
OVERSIGHT BOARD REGULAR MEETING OCTOBER 9, 2012
MINUTES PAGE 4
0
J O
c'�LIF0 R�1�
CALL TO ORDER
ROLL CALL
SPECIAL MEETING
MINUTES
OVERSIGHT BOARD FOR THE
SUCCESSOR AGENCY TO THE CITY OF
SOUTH SAN FRANCISCO
REDEVELOPMENT AGENCY
P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
Meeting held at:
CITY HALL
LARGE CONFERENCE ROOM, TOP
FLOOR
400 GRAND AVENUE
FRIDAY, OCTOBER 19, 2012
PLEDGE OF ALLEGIANCE
AGENDA REVIEW
None.
PUBLIC COMMENTS
Time: 2:00 p,m.
Present: Boardmembers Addiego,
Beaudin, Christensen and Scannell
and Chairperson Cullen.
Absent: Boardmember Farrales and
Vice Chairperson Porterfield.
Led by Boardmember Beaudin.
Comments from members of the public on items not on this meeting agenda. The Chair may set time
Iimit for speakers. Since these topics are non- agenda items, the Board may briefly respond to
statements made or questions posed as allowed by the Brown Act (Government Code Section
54954.2). However, the Board may refer items to staff for attention, or have a matter placed on a
future agenda for a more comprehensive action report.
None.
MATTERS FOR CONSIDERATION
1. Resolution No. 9 -2012 certifying and approving a Due Diligence Review of the Former
Low and Moderate Income Housing Fund of Cash and Cash Equivalents Available for
Disbursement to Taxing Entities.
Staff advised that no public comments had been received pertaining to the Due Diligence review of
the Former Low and Moderate Income Housing Fund of Cash and Cash Equivalents since its
presentation to the Board at. its Regular Meeting held on October 9, 2012.
Motion — Boardmember Addiego /Second— Boardmember Christensen: to approve Resolution
No. 9 -2012. Approved by the following voice vote: AYES: Boardmembers Addiego, Beaudin,
Christensen and Scannell and Chairperson Cullen; NOES: None; ABSTAIN: None; ABSENT:
Boardmember Farrales and Vice Chairperson Porterfield.
2. Closed Session: Real Property Negotiations
(Pursuant to Government Code Section 54956.$)
Related to: 1 Chestnut Avenue
Negotiating Parties: Oversight Board and Successor Agency for the
farmer South San Francisco Redevelopment Agency and Red Cart
Market Inc., dba Pet Club Stores.
Agency Negotiator: Marty VanDuyn.
Red Cart Market Inc., dba Pet Club Stores Negotiator: Vic Catanzaro.
Time entered Closed Session: 2:04 p.m.
Open Session resumed: 2:21 p.m.
Report out of Closed Session by Chairperson Cullen: Boardmembers directed staff to bring the
lease agreement to the Successor Agency and then back to the Oversight Board with
recommended terms and conditions for approval.
ADJOURNMENT
Motion — Boardmember Addiego /Second— Boardmember Scannell: to adjourn the meeting.
Approved by the following voice vote: AYES: Boardmembers Addiego, Beaudin, Christensen
and Scannell and Chairperson Cullen; NOES: None; ABSTAIN: None; ABSENT: Boardmember
Farrales and Vice Chairperson Porterfield.
Pursuant to the above motion, Chairperson Cullen adjourned the meeting at 2:22 p.m.
Submitted: Approved:
Krista J. ity Clerk Neil Cullen, Chairperson
City of South San rancisco Oversight Board for the Successor Agency
to the City of South San Francisco
Redevelopment Agency
OVERSIGHT BOARD OCTOBER 19, 2012
MINUTES PAGE 2
N *vcmbcr 5, :2Q I2
T ()-- Mmbm oftk Oversight end
FROM Ntii Cullen, Chai. man of the Ovmight BumA
SUBJJ CJr AuthwizWtn for dC_ LChBjMM Of the oVerSi I Rnw'd to Send
a metre 10 llhe Ste Of CAIMM 4 DeP2rmwW of l" inanve Rquesting
Directi m Regarding the Inclusion of mat tjrtrr d pu-rnsi ,0aq juld Bewfit
Liabilitie-s as Pw't of the South Sit Fmnc4seo Rowgniw Obligations
Nyntent Scbedulc
�1= t�DATIt7N
kevj'! w tk dTAfl 4ertErp mmkc clttago as yum B=d may cwt ww Uwn Elwhlkim the
O r; ditic Ovti lght Sri tP tk kW W the SiW Of QM is FARM �nt
of Yllume(k,rO ). W U
TV -q r AVMY (SA) ttt dw b 9M Fr i Re4n]Vmern. A05m7 'A) had
rNw9 d Iha ab i = W ids ire its 1kwc 1zcd Db1*k1m E'er# l ebedt9t (MPS) to
mgmbwrr tbl� C4 fOc mfm&'d OdP r prim I nim lclltb kmflt ogts 1+d
*idl ffmft firm e it, 4hc pwt to the MA by Girth tmployum. Oty gaff opimcd jbil oty
MPIDYM Amb be raU nWee d s -; cIDplaym of t6 R15A Within tk uwmbV + r?ffhc.®bk
and dwmfum, wd4atd pt"m mW bewfil h wilt suff dw pruYJ4
wnAcm to (k RDA poor eo its �� xkam mould be cuft6de:,d m16 wombk 0Wgwkm
Thy QB defer, includutg pmt fm it pal ROM pm*gg w ep
reimburmM- l f0T VmfwdCd USKI i " WW With Qty 6j = wbo pcff=W
59nim for & fir RDA, #s ornpued to dimes RDA empfvja& ABIx 26 quad
tht Wm '=Arw" GbRp6W ltx fx. wpw rokm1opoml agwim 19 WWc ekpMy
enfar Ge paylhmts mWMd iD r l o with Ow Mmid OnVIDWS, rxludirq , lxa#
nOt liar bW 'toff Fwm-*m Mmcnaj� Pem;aR WsMb cy dtbt my.1m w +plt y r#
P� }�►�rt�., v� �rtbcr �rt%x1 � � c�fJt>�ti� ]yTtg rnxi�,P
(ftddl A Set}r Sm-&m 3'4171( ])(0)
A lam, tevitibd in dwrr 2012, mkkd lm" to }kolth & Sdety eo& 50MUn
34171( 1 K.) ihm n9 dlf ed the de6rrit m of "imft2meabb limim." oo inctu& "cams to ftilfll
wllocdve bwp6fiks apmPerm fir 1a yoffi,of tfffd1w*w4 of mily
wA dire ork Ibeltelfofdw Fmift y mkqmrLj grncy." his lwww mcm w e&er
Ha-^t %vr, the .Aahmry chwign did rox uraa*4wpsJy Q*m ih,- situmko preatmcd in SoIA
.q4n F sw, wtmc C4 employ= FuppxW Om RDA *M typleAly W t pardim rid (kir
aahks fiki&d h} RDA rtvows, but wem a1w Laing TW]w city budwm
MY WWI!rAA9Mft h tag 6e DOF mmY m6cw all PC M of ft OverSW boar& aM then bw 40
dayz I P ammyt. Tcjw, or iniaMy these wim- Our OB hu KwW optibm to om '
a) wait (w a &c xjm by tk POJI (M ft indmim -off unfur&d obliptim In anotbff
'6r ba Soath Isim
tx,ati ice;
k) rw&e a &NOTnimdav Inindwic or mAxile pint unfumded oblo4om in a ROPS mid
t for DOP's myirw or the Sks app if tk Ob's be-14W is. Onatrary Lin 0 ir
Cal wx PM-.I1PTt;
-or
Cl MqIkM DOF's three ion -VfivmP aM diet p trqardj%jy,
J baliew requemiq dlretfiab'�Vftwe Li Lbe raod appxqriake qpdon w
-a) Chm UMCM to be vilfiatiow in the IhW RC&veIOVwM Ag rwl id- full tires
RDA eMp1qftS, fiA dole d[y 51aff, pwt Omw city *Uff.. M,-. aW OWICfW & &-,.CWOO by
I w imJudi; or culude paywrm oa a ROPE of am t&t SA" or =y rxit Imwida
9w yow (M to Omminc if4m ff not uAmdod t� should -or sbDald
w be Wudod in Ilk RDA7s ROPS,
b) dwe -%we Meirg ev6nkhm cxpmaed by m= rt
bt OD mgxr&W if wfimM
00!& lxx" lbe inamW iin Vbe ROPS, &W -dkn AW mcdWdop dux" be kaed ba
aculaft Wfun" wSts dwUM tkkc by Cxwdi&Sr4 as Owipkw of the OPS, If.&C
OB nP*.% Ib4 wfiuxI#d Pogs of Oc RDA 9mid be iagubd, then At mn"&gy
Dccdj to be dewagned &-ni appm%-M priw in the ubjjSWm be* inal uda n1b wouk
be a fiakw el`n if DOF &Imnhx* thr imfw&-d coAU 3m mt abRpt6m dud rm be
iud wiled in a ROPS.
IIW
Th= is no F=W h by wfiwWag the Chaknaft tawrA d* Itma to ft DOE, as I)DF his
tbC ffiAk6ky UP M&6- IM!i'&4&fM—trKMoP M FmwvkW ty SUft Aukdes, amd *e ptopmW'kaw
may juA h ftir dccWm with reqwt to Souffi W PraneLgeWs siraniarL
C"60 fLxr QVCFXi9IM BORd hM w4mlcd tbC dMft ktiff
e k t IRK.
Clwar7reara� Smd Sam Frumiaw Rol cvcl to Swrvtsat Agenty bvnmigbt Dowd
Unell.- Dmft Letw
November , 2012
Mr. Steve Szalay
Local Government Unit
Department of Finance
915 L Street
Sacramento, CA 95814 -3706
RE: Request for Direction from the Department of Finance Regarding the Inclusion of Past Unfunded
Pension and Benefit Liabilities as Part of the South San Francisco Recognized Obligations Payment
Schedule
Dear Mr. Szalay:
I am the current chairman of the Oversight Board (OB) to the Successor Agency of the former South
San Francisco Redevelopment Agency (RDA) and am writing on behalf of the OB to request your
assistance in clarifying the Department of Finance's (DOF) position on including past unfunded pension
and benefit liabilities as part of a Recognized Obligations Payment Schedule (ROPS).
The Successor Agency (SA) has requested that an item be included in its ROPS to reimburse the City for
unf nded CalPERS pension and retiree health benefit costs associated with staff time charged in the past
to the SSFRDA by City employees. The City's argument is that City employees should be considered as
employees of the RDA within the meaning of applicable statutes; and therefore unfunded pension and
benefit costs associated with staff that provided services to the RDA prior to its dissolution should be
considered enforceable obligations.
The OB deferred including payment for such costs in past ROPS because of the legal uncertainty
regarding whether AB 1x 26 allowed reimbursement for unfunded liabilities associated with City
employees who performed services for the former RDA, as compared to direct RDA employees. AB lx
26 defined the term "enforceable obligation" for former redevelopment agencies to include: "legally
enforceable payments required in connection with the agencies' employees, including, but not limited to,
pension payments, pension obligation debt service, unemployment payments, or other obligations
conferred through a collective bargaining agreement." (Health & Safety Code Section 34171(d)(1)(C).)
Other provisions in AB lx 26 also referenced employees of former redevelopment agencies without
clearly stating whether or not these references were intended to apply to City employees who were
assigned to provide services to a redevelopment agency and whose time was charged to the agency, or
just direct agency employees. (See Health & Safety Code Section 34179(a)(7) and Section 34190.)
Earlier this year, the Department of Finance posted information on its website regarding this issue, but
did not provide clear guidance regarding the question whether unfunded liabilities associated with city
employees who supported former redevelopment agencies can be treated as enforceable obligations.
AB 1484, enacted in Tune 2012, added language to Health & Safety Code Section 3417 1 (d)(1)(C) that
modified the definition of "enforceable obligation" to include "costs to fulfill collective bargaining
agreements for layoffs or terminations of city employees who performed work directly on behalf of the
former redevelopment agency." However, this language seems to cover only those employees whose
services were no longer needed following the agency's dissolution. Section 34179(a)(7) also was
amended to expressly recognize a distinction between employees of the former redevelopment agency
and city employees who performed administrative duties for the former redevelopment agency, in the
context of qualifications for the employee representatives appointed to oversight boards. However,
these statutory changes did not unambiguously address the situation presented in South San Francisco,
where City employees supported the RDA and typically had a portion of their salaries funded by RDA
revenues, but were also doing regular city business.
My understanding is that the DOF may review all actions of the oversight boards and then has 40 days
to approve, reject, or modify these actions. Our OB has several options to consider:
a) wait for a decision by the DOF on the inclusion of unfunded obligations in another successor
agency's ROPS that may or may not be similar to South San Francisco's situation;
b) make a determination to include or exclude past unfunded obligations in a ROPS and wait for
DOF's review or the SA's appeal if the OB's action is contrary to their position; or
c) request DOF's direction "upfront" and then proceed accordingly.
Requesting direction "upfront" appears to the OB to be the most appropriate option as past comments by
the DOF lead the OB to believe that you are looking for statewide consistency.
In closing, I believe both the South San Francisco OB and the City's Successor Agency have worked
cooperatively in meeting the intent of the legislation that dissolved redevelopment agencies statewide. I
believe that requesting DOF direction regarding the issues presented in this letter is the most appropriate
course of action to facilitate; an expeditious wind -down of the affairs of this Redevelopment Agency for
the benefit of al I the affected local taxing entities.
Thank you in advance for considering my request and look forward to any direction that you can provide
the Oversight Board.
Very truly yours,
Neil R. Cullen
Chairman Oversight Board of the Successor Agency to the South San Francisco Redevelopment Agency
1483844.1