HomeMy WebLinkAboutOB Minutes 08.18.15P.O. Box 711 (City Hall, 400 Grand Avenue)
South San Francisco, California 94083
CITY HALL
LARGE CONFERENCE ROOM, TOP FLOOR
400 GRAND AVENUE
TUESDAY, AUGUST 18, 2015
2:00 P.M.
CALL TO ORDER TIME: 2:00 PM
ROLL CALL PRESENT: Boardmembers Addiego, Christensen,
Gross, Farrales*, and Scannell, and
Chairperson Cullen.
*Boardmember Farrales
arrived at 2:05 PM
ABSENT: Vice Chair Krause,
PLEDGE OF ALLEGIANCE
Recited.
AGENDA REVIEW
No Changes.
COMMUNICATIONS FROM STAFF
None.
PUBLIC COMMENTS
None.
MATTERS FOR CONSIDERATION
1. Motion to approve the Minutes of the Special Meeting of May 21, 2015.
Motion — Boardmember Scannell/Second — Boardmember Christensen: to approve the amended
Minutes of the Special Meeting of May 21, 2015, Approved by the following vote: AYES:
Boardmembers Addiego, Christensen, Scannell and Gross, and Chair Cullen; NOES: None;
ABSTAIN: None; ABSENT: Boardmember Farrales and Vice Chair Krause.
2. Resolution No. 5 of the Oversight Board directing the Successor Agency to return
an asset in the amount of $8,792,327 related to the Downtown Parking Garage to
the City of South San Francisco Parking District Enterprise Fund and to nullify
and remove the "Loan" Receivable asset from the Successor Agency's accounting
records.
Assistant City Manager Steele articulated this asset was mistakenly documented by administrative
staff as a "loan" on the Successor Agency's accounting records despite approved documents
confirming otherwise. Steele clarified this Resolution would essentially correct that mislabeling to
ensure consistency with the Department of Finance's audit. City Manager Futrell highlighted the
Parking District would be significantly impacted if the item remained referenced as a "loan,"
crippling resources for intended future expansion and preventing potential financial strategies
concerning surface parking lots. City Attorney Mattas added nothing is enforceable under the asset's
categorization as a loan because it was never memorialized as such.
Motion — Boardmember Addiego/Second — Boardmember Christensen: to approve Resolution No. 5
of the Oversight Board directing the Successor Agency to return an asset in the amount of $8,792,327
related to the Downtown Parking Garage to the City of South San Francisco Parking District
Enterprise Fund and to nullify and remove the "Loan" Receivable asset from the Successor Agency's
accounting records. Approved by the following vote: AYES: Boardmembers Farrales, Addiego,
Christensen, Scannell and Gross, and Chair Cullen; NOES: None; ABSTAIN: None; ABSENT: Vice
Chair Krause.
3. Update on 636 El Camino Real Revenue Sharing Agreement. (Alex Greenwood —
ECD Director).
Board members requested staff provide numbers and scenarios for their consideration, in order for the
Oversight Board to evaluate options in lieu of a long term revenue sharing agreement.
m9:3119111a
Being no further business, Chair Cullen adjourned the meeting at 2:45 P.M.
idra Tuppdr, puty City Clerk
ght I e Successor
Agency to the SouthSan Francisco
Redevelopment Agency
Approved-
OVERSIGHT BOARD REGULAR MEETING AUGUST 18, 2015
MINUTES PAGE 2