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Home My WebLink About06 - - Minutes Special Joint Meeting - 8/21/2012UNOFFICIAL UNTIL APPROVED SPECIAL JOINT MEETING OF THE COSTA MESA HOUSING AUTHORITY, COSTA MESA CITY COUNCIL AND THE CITY COUNCIL ACTING AS SUCCESSOR AGENCY TO THE COSTA MESA REDEVELOPMENT AGENCY JUNE 12, 2012 These meeting minutes represent an "action minute" format. A copy of the meeting can be obtained at Costa Mesa Housing Authority Office located on the 20 floor of the Costa Mesa City Hall. The Costa Mesa Housing Authority, City Council and City Council Acting as Successor Agency to the Costa Mesa Redevelopment Agency met in a Special Joint Meeting held on Tuesday, June 12, 2012, in the Costa Mesa Council Chambers of City Hall, 77 Fair Drive, Costa Mesa. Chair Jim Righeimer called the meeting to order at 6:30 p.m. I. ROLL CALL Members Present: Chair/Mayor Pro Tem Jim Righeimer Vice-Chair/Council Member Stephen Mensinger Board Member/Mayor Eric Bever Board/Council Member Wendy Leece Board/Council Member Gary Monahan Officials Present: Tom Hatch, Executive Director/CEO Peter Naghavi, Director of Economic and Development 1 Deputy CEO Ernesto Munoz, Public Services Director Bobby Young, Finance and I.T. Director Colleen O'Donogue, Assistant Finance Director Hilda Veturis, Management Analyst Vanessa Locklin, Stradling Yocca Carlson & Rauth Kathe Head, Economic Consultant Martha Rosales, Recording Secretary 11. CLERK'S STATMENT The Agenda and Notice and Call for the Special Joint Meeting of the Costa Mesa Housing Authority, City Council and the City Council Acting as Successor Agency to the Costa Mesa Redevelopment Agency was posted at the City Council Chambers, Adams Postal Office, Headquarters Police Department, Neighborhood Community Center and the Mesa -Verde Public Library on Thursday, June 7, 2012. Ill. MINUTES Regular meeting of the Costa Mesa Housing Authority of April 3, 2012 0 V. VI. MOTION: Approve the Minutes from the April 3, 2012 Housing Authority meeting. Moved by Chair Jim Righeimer, second by Board Member Wendy Leece. The motion carried by the following vote: Ayes: Chair Jim Righeimer, Vice Chair Stephen Mensinger, Board Member Eric Bever, Board Member Wendy Leece, Board Member Gary Monahan Noes: None Absent: None PUBLIC COMMENTS Chair Jim Righeimer opened the session for public comments. There being none, the public comments session was closed. BOARD MEMBER'S COMMENTS AND SUGGESTIONS - None NEW BUSINESS Agreement for Professional Legal Services Ms. Ullman presented the staff report and gave a narrative of the various services Stradling, Yocca, Carlson & Rauth had provided to the City since 1986. Ms. Ullman added that Shareholder and Lead Partner, Celeste Brady, had provided several years of special counsel services in Redevelopment, affordable housing, public finance and other public law matters. Ms. Ullman recommended the City enter into a professional legal services agreement with Stradling, Yocca, Carlson & Rauth. MOTION: Voting as the Housing Authority, the City Council and the City Council Acting as Successor Agency to the Costa Mesa Redevelopment Agency, approve Agreement for Professional Legal Services with Stradling, Yocca, Carlson & Rauth. Moved by Board Member Gary Monahan, second by Vice -Chair Stephen Mensinger. The motion carried by the following vote: Ayes: Chair Jim Righeimer, Vice Chair Stephen Mensinger, Board Member Eric Bever, Board Member Wendy Leece, Board Member Gary Monahan Noes: None Absent: None 2. Agreement for Professional Financial Consulting Services Executive Director Tom Hatch presented the staff report and stated the agreement was to continue financial consulting services with Keyser -Marston Associates, Inc., a top-notch financial analysis firm who had provided a variety of services to the City for many years. Mr. Hatch stated the contract (up to $100,000 annually) was for 1 year with three (3) one year renewals. Mr. Hatch recommended the City approve the contract for financial consulting services with Keyser -Marston Associates, Inc. 2 MOTION: Voting as the Housing Authority, the City Council and the City Council Acting as Successor Agency to the Costa Mesa Redevelopment Agency, approve Agreement for f=inancial Consulting Services with Keyser - Marston Associates, Inc. Moved by Board Member Gary Monahan, second by Board Member Eric Bever. The motion carried by the following vote: Ayes: Chair Jim Righeimer, Vice Chair Stephen Mensinger, Board Member Eric Bever, Board Member Wendy Leece, Board Member Gary Monahan Noes: None Absent: None 3. Update on Correspondence with the State Department of Finance Finance and I.T. Director Bobby Young presented the staff report. He reported both ROPS (Recognized Obligation Payment Schedules) for the periods of January through June 2012 and July through December 2012 had been approved by the State Department of Finance and commended staff on a job well done completing the task. The State had also approved the City -Agency loan that was on the Second BOPS (July through December 2012) - staff was cautiously optimistic that the loan would remain on the RAPS and be paid. Macias Gini & O'Connell (auditors contracted by the State) had completed their audit that included the EOPS (Enforceable Obligation Payment Schedule) and ROPS. An exit conference was scheduled for later in the week and more information would be available at the June 21, 2012 Oversight Board meeting. Chair Jim Righeimer commended Mr. Young and staff on doing a phenomenal job compiling the color -coded flow chart for the original 1971 City -Agency loan. At a time when Board Members thought the money would be gone, staffs efforts saved the City $10 million dollars. Board Member Eric Bever echoed Chair Jim Righeimer's comments and thanked staff for a great job documenting the obligation payment schedules as well. Board Member Wendy Leece also commended staff on their phenomenal work. She asked if the BOPS would be submitted to the State Department of Finance twice a year for review. Mr. Young reported that work on the ROPS for the period of January through June 2013 would begin in September 2012. Staff would then update the ROPS every 6 months for each period and address items for reimbursement. Board Member Wendy Leece requested that copies of the Oversight Board's Agendas and Minutes be provided to the Council to keep them informed. Recording Secretary Martha Rosales assured Board Member Leece that her request would be handled accordingly. Board Member Wendy Leece asked if the Oversight Board had approved the EOPS and ROPS. Chair Jim Righeimer (Chair of the Oversight Board) gave a brief summary of what took place at the Oversight Board meetings and confirmed that the EOPS and ROPS had been approved by the Oversight Board. Mr. Young asked if the Board wanted the matter agendized for future meetings or if they preferred receiving correspondence after each Oversight Board meeting. Chair Jim Righeimer opted for receiving correspondence after each Oversight Board meeting. 3 MOTION: Voting as the Housing Authority, the City Council and the City Council Acting as Successor Agency to the Costa Mesa Redevelopment Agency, receive and file the Update on Correspondence with the State Department of Finance. Moved by Board Member Eric Bever, second by Vice - Chair Stephen Mensinger. The motion carried by the following vote: Ayes: Chair Jim Righeimer, Vice Chair Stephen Mensinger, Board Member Eric Bever, Board Member Wendy Leece, Board Member Gary Monahan Noes: None Absent: None ADJOURN THE CITY OF COSTA MESA ACTING AS SUCCESSOR AGENCY MEETING AND CONTINUE SPECIAL JOINT MEETING OF THE COSTA MESA CTY COUNCIL AND COSTA MESA HOUSING AUTHORITY 4