HomeMy WebLinkAbout04/09/12 OVERSIGHT BOARD AGENDA SPECIALSPECIAL MEETING OF THE OVERSIGHT BOARD
TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA
Monday, April 9, 2012
9:00 a.m.
City Hall North - Conference Room A
1600 Truxtun Avenue
Bakersfield, CA 93301
1. ROLL CALL
A. Administration Of Oath Of Office
B. Introductions
2. PUBLIC STATEMENTS
3. ELECTION OF CHAIR and VICE CHAIR FOR 2012 -2013
4. ADOPTION OF ROBERTS RULES OF ORDER AS THE PARLIAMENTARY PROCEDURE
5. ADOPTION OF CONFLICT OF INTEREST CODE
6. DESIGNATION OF CONTACT PERSON FOR DEPARTMENT OF FINANCE INQUIRIES
7. RECEIVE AND FILE DOCUMENTS RELATIVE TO THE BACKGROUND OF REDEVELOPMENT
8. NEW BUSINESS
A. Overview of Role of Oversight Board and Successor Agencies
i. Role of Successor Agency
ii. Role of Oversight Board
iii. Questions/ Discussion
B. Overview of Former Bakersfield Redevelopment Agency Projects
C. Transfer of Housing Rights and Assets to Housing Successor Agency
D. Adopt RecognizEd Obligations Payment Schedule
E. Approval of Successor Agency's Administrative Budget pursuant to Health and Safety
Code Section.34177(j)
F. Establishment of Future Meeting Dates
9. BOARD COMMENTS
10. ADJOURNMENT
OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 1 AGENDA ITEM: 3
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Election of Chair and Vice Chair for 2012 -2013
RECOMMENDATION:
Staff recommends that the Oversight Board elect one member to serve as Chair and one
member to serve as Vice Chair for a one -year term.
BACKGROUND:
All actions of the Oversight Board must be taken on a majority vote of the entire membership.
Given that the Oversight Board has seven (7) members, four (4) affirmative votes are needed to
pass a motion.
Since there is not a Chair or Vice Chair currently, staff will open and close the nominations for
Chair and Vice Chair, and call for the vote on each position.
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 AGENDA ITEM: 5
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Resolution Adopting a Conflict of Interest Code for the Oversight Board
RECOMMENDATION:
Motion to adopt the Resolution entitled "A Resolution of the Oversight Board to the Successor
Agency of the Dissolved Bakersfield Redevelopment Agency Adopting a Conflict of Interest
Code for the Oversight Board."
BACKGROUND:
The Oversight Board is subject to the Political Reform Act and regulations promulgated by the Fair
Political Practice Commission ( "FPPC "), which requires a newly established entity to adopt a
Conflict of Interest Code. The Oversight Board may adopt by reference the model conflict of
interest code set forth in Section 18730 of Title 2 of the California Code of Regulations.
Staff is recommending the Oversight Board adopt the resolution, which adopts the FPPC model
Conflict of Interest code by reference. The model code requires inclusion of the designated
positions subject to the code and a list of disclosure categories. The resolution proposes the
designated position to be the Oversight Board members and that reporting be in all disclosure
categories that are applicable.
Members of the Oversight Board who currently file a Form 700 Statement of Economic Interest
with another agency located within Kern County do not need to file an additional form for the
Board.
However, members of the Oversight Board that do not currently file a Form 700 Statement of
Economic Interest with another agency located within Kern County must file a Form 700
Statement of Economic Interest with the Clerk of the City of Bakersfield within 30 days of assuming
office on the Oversight Board.
ATTACHMENTS:
1. Resolution
2. Section 18730 of Title 2 of the California Code of Regulations
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
TO THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 1 AGENDA ITEM: 6
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Designation of Contact Person for Department of Finance Inquiries
RECOMMENDATION:
Staff recommends that the Oversight Board designate the Finance Director, Nelson Smith, as the
official who shall serve as the contact person for Department of Finance inquiries regarding
Oversight Board actions.
BACKGROUND:
California Health and Safety Code Section 34179 requires that all meetings of the Oversight
Board be noticed and held in accordance with the Ralph M. Brown Act, and that agendas and
proposed actions of the Oversight Board be posted on the Successor Agency's website for
public review.
Health and Safety Code Section 34179 provides that the Department of Finance (DOF) may
review Oversight Board actions, and, as such, all Board actions are not effective for three (3)
business days, pending review by the DOF. If the DOF exercises its right to review the action, it
then has ten (10) days to approve the action or return it to the Oversight Board for
reconsideration. The Oversight Board's modified action does not become effective until
approved by the DOF.
Health and Safety Code Section 34179 requires the Oversight Board to formally designate an
official for the purpose of communicating with the DOF regarding Oversight Board actions. Staff
recommends that Finance Director, Nelson Smith, be designated as the contact person for the
Oversight Board. Once the Oversight Board designates an official, staff will transmit the official's
contact information to the DOF.
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 AGENDA ITEM: 7
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Receive and File Documents Relative to the Background of Redevelopment
RECOMMENDATION:
Staff recommends that the Oversight Board receive and file documents provided to them that
are relative to the background of redevelopment.
BACKGROUND:
As part of the initial activities of the Oversight Board, it is helpful that a historical background of
the original Bakersfield Redevelopment Agency be provided to the members. Understanding the
former Bakersfield Redevelopment Agency operations, assets and components will assist with the
transition to the Successor Agency, and will comply with the goals of winding down the affairs of
the former Bakersfield Redevelopment Agency. This information will also provide the Oversight
Board with the requisite knowledge to discharge their duties.
Prior to this meeting, the Oversight Board was provided the following documents:
Community Guide to Redevelopment - This document can best be described as an
overview of redevelopment, specifically related to Tax Increment Financing, Property
Acquisition and Disposition, Capital Improvement Funding, Miscellaneous Provisions, and
Affordable Housing.
• Implementation Plans and Maps of former City of Bakersfield Redevelopment Agency
Project Areas _ This is a series of three (3) pages indicating the location of the project
areas. The Implementation Plan is a five year plan required under Community
Redevelopment law. The most recent plans were adopted for 2010 - 2014.
Financial Statements of the former Bakersfield Redevelopment A eq ncy - This is the latest
report, required by the CRL, to be submitted to the State of California describing the
activities and condition of the former Bakersfield Redevelopment Agency.
• AB IX 26 - This is the bill passed by the Legislature that set the dissolution of redevelopment
agencies (RDAs) into motion.
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AGENDA REPORT Page 2
History of the Bakersfield Redevelopment Agency and its Projects and Activities
The Bakersfield Redevelopment Agency, established in 1967 had three project areas under its
authority. These were the Downtown Project Area, Old Town Kern - Pioneer Project Area and the
Southeast Project Area. The oldest area, the Downtown was created in 1974, and after three
amendments covered a total of 255 acres. Formed in 1999, two additional project areas were
added to its authority, the Old Town Kern - Pioneer project area covering 1,970 acres and
Southeast Project Area covering 4,577 acres. Maps and information about the project areas are
attached.
The Redevelopment Agency has been active in community and redevelopment projects that
eliminated blight, created new economic development opportunities and assisted with
replacement of dilapidated housing, creating new affordable housing projects and improving
the quality of life-in the project areas for residents and business owners. Over the years some
significant projects have been achieved by the Redevelopment Agency. Some of the more
recognized redevelopment includes; the Rabobank Arena, Bank of America Building, Marriott
Hotel and Convention Center, Baker Street Mixed Use, Chester Avenue Streetscape, Southeast
Fire Station and more recently Mill Creek.
Section 33490 of the Community Redevelopment Law required that a redevelopment agency
prepare and adopt a 5 year implementation plan for each project area. The most recent plans
for the Bakersfield Redevelopment Agency were adopted for 2010 - 2014 and are attached as
reference material. The plan guides the redevelopment agency in implementing its programs
and projects to eliminate blighting influences. The plan also helps the Redevelopment Agency
monitor is progress in meeting both its affordable housing needs and the needs of the
community.
In addition to the Five Year Implementation Plan, several specific community planning sessions
were held for each project area beginning with the downtown in 2001. Once the community
planning sessions were completed, staff began work on projects and activities that were
identified as the highest community public priorities. Staff explored development opportunities
and secured grants and low interest loans to achieve several of the plans that were identified for
the project areas. Several projects were initiated as "Projects for Public Spaces" including the
Wall Street Alley, expansion of Chester Avenue Streetscape from 24th Street to Garces Circle, 19th
and Eye Street Plaza. Recreation amenities and public buildings were built in neighborhoods
lacking these facilities. Benefiting from a record growth in the project areas, staff leveraged
these monies and secured larger loans and grants that were used for key land acquisitions and
development of .environmentally challenged properties that had been identified as key
economic opportunities.
A specific area in. Old Town Kern - Pioneer and Downtown areas was identified as a transitioning
industrial area. This area located in the eastern corridor of downtown, was environmentally
challenged with many vacant and abandoned industrial sites. Planning efforts began to take
shape and a new designation emerged for this area called Mill Creek. In 2009, the Bakersfield
Redevelopment Agency completed a 1.5 mile linear parkway and pedestrian walk along an old
agricultural canal using $14,000,000 in loan funds received from the California Infrastructure Bank.
(ROPS page 5, item 14) The new linear park created a core community recreational
enhancement by restoring the long neglected downtown historic Central Park and expanded
the park north and south through a lease arrangement with a local canal company to allow
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AGENDA REPORT Page 3
canal and landscape improvements within the canal rights of way. The City of Bakersfield
successfully attracted the interest of the Federal Court to locate in the new park area.
Building on the success of the new parkway, the Redevelopment Agency began a master plan
to attract new residential and commercial development along key vacant or blighted parcels
located adjacent to the new Mill Creek Parkway. The Redevelopment Agency secured
additional grants and loans and began to attract a variety of urban compact residential and
mixed use projects to the Mill Creek area.
In 2009, the Bakersfield Redevelopment Agency secured a $10,847,200 grant from the State
Community and Housing Department (HCD) Prop 1 C Bond Program. The grant was awarded to
provide needed street and utility infrastructure and additional urban park development required
to develop 261 new compact and affordable residential units in 5 separate development
projects planned for construction along Mill Creek. The infrastructure improvements and some
residential developments began construction in 2009, several of which are in various stages of
completion. HCD placed covenants on the residential properties and conditions in the grant
contract regarding infrastructure and housing unit completion performance or requirements to
repay the grant funds. On February 1, 2012, the State eliminated Redevelopment Agencies in
California. Successor Agencies were created and charged with winding down the
redevelopment agencies operations and activities, including the administration of the former
Redevelopment Agency debts, contracts and housing activities.
The Mill Creek Project is a significant undertaking by the Bakersfield Redevelopment Agency.
Several Mill Creek residential agreements and infrastructure contracts were underway and
remain to be finished under the direction of the Successor Agency. The financial obligations
associated with these contracts and agreements are included on the Recognized Obligation
Schedule (ROPS) that the Oversight Board and Successor Agencies will review and administer.
Attachments:
Community Guide to Redevelopment
Implementation Plan and Area Maps /Highlights of former Redevelopment Agency
Financial Statements of the former Bakersfield Redevelopment Agency
AB 1X 26
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 1 AGENDA ITEM: 8.A.
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Overview of Role of Oversight Board and Successor Agencies
RECOMMENDATION:
Staff recommends that the Oversight Board accept the report, which will also be presented in
PowerPoint format. After that presentation, an opportunity for questions and discussion will
occur.
BACKGROUND:
The Redevelopment Dissolution Act, AB 1 x26, signed by the Governor in June 2011, was upheld
by the California Supreme Court on December 29, 2011. The Court set the date of February 1,
2012, for dissolution of all California redevelopment agencies. The City has elected to serve as
the Successor Agency to the dissolved Bakersfield Redevelopment Agency.
The Dissolution Act requires that each successor agency have an Oversight Board. For reference,
attached is California Health and Safety Code section 34179 through 34181 which regulates the
formation and composition of oversight boards, the public meeting process, and fiduciary
responsibilities of oversight boards. A copy of the complete AB 1x26 was provided to Board
members prior to the meeting.
The following are the key components of AB 1x26 with respect to the legal status and role of the
Oversight Board:
• Oversight Boards are deemed a local governmental entity for purposes of the Brown Act,
Political Reform Act, and Public Records Act.
• All notices (including agendas) required by law for proposed Oversight Board actions are
to be posted on the Successor Agency's website.
• A majority of the total membership of the Oversight Board (i.e., four (4) members) shall
constitute a quorum for the transaction of business.
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AGENDA REPORT
Page 2
• A majority of the total membership of the Oversight Board (i.e., four (4) members) is
required for the Oversight Board to take action.
• Oversight Board members have personal immunity from suit for their actions taken within
the scope of their responsibilities as Oversight Board members.
• Oversight Board members receive no compensation or reimbursement for expenses for
service on the Oversight Board.
• Oversight Board members serve at the pleasure of the entity that made the appointment.
• Oversight Board members may serve on up to five (5) Oversight Boards.
• Notwithstanding Section 1099 of the Government Code, or any other law, any individual
may simultaneously be appointed to an Oversight Board and hold an office in a city,
county, city and county, special district, school district, or community college district.
• The Successor Agency serves as the staff for the Oversight Board and Oversight Board may
direct the staff of the Successor Agency to perform work in furtherance of the Oversight
Board's duties and responsibilities. The cost for noticing and holding Oversight Board
meetings are to be borne by the Successor Agency, and may be included in the
Successor Agency's administrative cost allowance.,
• The Oversight Board must report the names of Chair, Vice Chair, and other members of
the Oversight Board to the Department of Finance ( "DOF ") by May 1, 2012. The reporting
will be done by the Board Secretary.
• DOF may review the actions /decisions of the Oversight Board.
• All Oversight Board actions shall r
request for review by the DOF. li
Board action /decision, the DOF s
request to approve the action
reconsideration and resubmittal to
effective until approved by DOF.
:)t be effective for three (3) business days, pending a
the event DOF requests review of a given Oversight
fall have ten (10) calendar days from the date of its
it reject it and return it to the Oversight Board for
DOF. The modified Oversight Board action shall not be
Oversight Board terminates the earlier of (i) when all of the indebtedness of the former
redevelopment agency has been repaid, or (ii) July 1, 2016.
• If outstanding indebtedness of the former redevelopment agency still needs to be repaid
as of July 1, 2016, on that date the existing Oversight Board terminates and a new
Oversight Board takes over. As of that date, there is one Oversight Board for all of the
Successor Agencies within a county. The members of that replacement Oversight Board
are: 1) one member appointed by the county board of supervisors; 2) one member
appointed by the city selection committee; 3) one member appointed by the
independent special district selection committee; 4) one member appointed by the
county superintendent of education; 5) one member appointed by the Chancellor the
California Community Colleges; 6) one member of the public appointed by the county
board of supervisors; and 7) one member appointed by the recognized employee
organization representing the largest number of successor agency employees in the
county.
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AGENDA REPORT
Page 3
• The Oversight Board has a fiduciary responsibility to holders of enforceable obligations and
the taxing entities that benefit from distributions of property tax and other revenues
pursuant to Health and Safety Code Section 34188 (dist(bution from the Redevelopment
Property Tax Trust Fund).
• The Oversight Board must approve Successor Agency actions set forth in Health & Safety
Code Section 34180.
The Oversight Board is to direct the Successor Agency to perform the functions set forth in
Health & Safety Code Section 34181.
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 I AGENDA ITEM: 8.B.
i
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Overview of Former Bakersfield Redevelopment Agency Projects
RECOMMENDATION:
Staff recommends that the Oversight Board accept the report.
BACKGROUND:
Staff will provide an overview in PowerPoint format of the former Bakersfield Redevelopment
Agency projects.
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE:
TO: Members of the Oversight Board
FROM: Successor Agency Staff
AGENDA ITEM: 8.C.
SUBJECT: Transfer of Housing Rights and Assets to Housing Successor Agency
RECOMMENDATION:
It is recommended that the Oversight Board adopt a resolution acknowledging that as of
February 1, 2012, the housing assets of the Redevelopment Agency of the City of Bakersfield
( "Agency ") were transferred from the Agency to the City of Bakersfield ( "City "), that the City
accepted the housing assets, and that City may exercise all rights and obligations relating to the
housing assets.
BACKGROUND:
On January 1], 2012, the City Council adopted Resolution No. 01 1 -12 by which the City assumed
the Agency's housing assets, which includes all funds held in the Agency's Low and Moderate
Income Housing Fund, all rights, interest privileges, property (real, personal and intangible),
including all loans and grants, all property such as land, buildings and dwelling units held by the
Agency in connection with the production and preservation of low and moderate income
hosing (collectively, the "housing assets "), and all of the rights, duties, and obligations that remain
under the Community Redevelopment Law, (the "CRL ", found at Health and Safety Code
Section 33000, et seq.) with regard to the production and preservation of low and moderate
income housing.
ANALYSIS:
The Oversight Board has authority and /or duties with respect to former Agency assets other than
housing assets. However, Health and Safety Code Section 34181(c) specifically provides that the
Oversight Board shall direct the Successor Agency to "transfer housing responsibilities and all
rights, powers, duties, and obligations along with any amounts on deposit in the Low and
Moderate Income Housing Fund to the appropriate entity pursuant to Section 34176 ". The
Oversight Board's adoption of the resolution acknowledging this transfer will meet the
requirement.
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AGENDA REPORT Page 2
The housing assets transferred to the City, as more particularly described in the attached Exhibit
A, are not subject to Oversight Board supervision, except to the limited extent that there are
housing projects that have been listed on the Recognized Obligation Payment Schedule.
It is important for the City's ability to administer and manage these assets consistent with the CRL
that the Oversight Board formally acknowledge that the housing assets were transferred from the
Agency to the City, that the City accepted the housing assets and that City may exercise all
rights and obligations relating to the housing assets. This includes entering into new contracts,
amending existing contracts, applying and using proceeds from the housing assets, and
disposing of the housing assets. The proposed resolution contains the Oversight Board's
acknowledgment that such actions by the City are not subject to review or approval by the
Oversight Board, the Department of Finance, or State Controller, unless and except to the extent
that the City seeks to use property tax revenues (former increment) funds for the payment of
performance of enforceable obligations.
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JHRM
OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: I AGENDA ITEM: 8.D.
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Recognized Obligation Payment Schedule of the Dissolved Bakersfield
Redevelopment Agency
RECOMMENDATION:
Adopt a Resolution of the Oversight Board to the Successor Agency of the dissolved Bakersfield
Redevelopment Agency approving the Recognized Obligation Payment Schedule (ROPS) for
the period January 1, 2012 through June 30, 2012.
BACKGROUND:
On December 29, 2011, the California Supreme Court (Court) upheld Assembly Bill xl 26 (the
Dissolution Act) and directed that all redevelopment agencies in the state be dissolved effective
February 1, 2012. On January 11, 2012, the City Council of the City of Bakersfield elected to
become the Successor Agency of the dissolved Bakersfield Redevelopment Agency. As the
Successor Agency, the City will wind down the affairs of the former redevelopment agency, with
certain actions subject to the approval of an Oversight Board.
The Successor Agency is responsible for the continued payment of enforceable obligations of the
dissolved Bakersfield Redevelopment Agency. The Successor Agency must prepare a ROPS,
which sets forth the payment amounts and due dates of payments required under enforceable
obligations for each six -month fiscal period.
The Oversight Board is required to review and approve each ROPS. The State Department of
Finance may review any Oversight Board action. Once the Oversight Board's approval of the
ROPS is effective, the County Auditor- Controller will use the ROPS as the basis to provide funds to
the Successor Agency to pay the enforceable obligations of the former Bakersfield
Redevelopment Agency. Successor agencies are required to submit a projected ROPS every six
months.
SUCCESSOR AGENCY ACTION AND RECOMMENDATION:
The City Council of the City of Bakersfield as Successor Agency of the dissolved Bakersfield
Redevelopment Agency approved a draft ROPS, which covers the period January 1, 2012
through June 30, 2012, at its February 15, 2012 meeting. A red -line version of this document is
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AGENDA REPORT Page 2
attached for your review. A color key provides summary explanation of proposed changes and
items pending review with the Department of Finance (Attachment 1).
ANALYSIS:
A "clean" version of the amended ROPS is also included in your packet (Attachment 2). This is
the document being proposed for your consideration and approval. Some of the items listed will
require discussion and may or may not be part of the final approved document. Before the
ROPS is considered operative, it must be approved by the Oversight Board.
Actions of the Oversight Board are not effective for three business days to allow the State
Department of Finance to determine whether it would like to review an Oversight Board action.
If the Department of Finance requests a review of an action, it has ten calendar days from the
date of its request to either approve the Oversight Board's action or return it to the Oversight
Board for reconsideration.
Once approved, the County Auditor - Controller will use the ROPS as the basis for distributing
property taxes to the Successor Agency for the payment of enforceable obligations. The initial
ROPS that was approved by the Successor Agency was submitted to the County at its request as
part of their "agreed upon procedures" review. The County plans to have their review
completed by its statutory deadline of July 1, 2012. Due to the inconsistent dates in the law
resulting from the Court's ruling, the initial ROPS must be submitted to the State Department of
Finance and State Controller by April 15, 2012.
The Dissolution Act calls for the County Auditor - Controller to distribute funds for the payments on
the approved initial ROPS to Successor Agencies on May 16, 2012. Property taxes for the
payment of July 2012 through December 2012 enforceable obligations are to be distributed to
the Successor Agency on June 1, 2012. To meet these timeframes, the Department of Finance
has requested the ROPS covering July 2012 - December 2012 be submitted by May 11, 2012. The
July 2012 through December 2012 ROPS will be similar in nature to the initial ROPS, with only the
monthly cash flows updated.
This second ROPS (July 2012 -Dec 2012) will be submitted for approval at your next Board
meeting.
JHR /vl
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 1 AGENDA ITEM: 8.E.
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Approval of Successor Agency's Administrative Budgets pursuant to Health and
Safety Code Section 34177(j).
RECOMMENDATION:
Staff recommends approval of the Successor Agency proposed Administrative Budget from
February 1, 2012 through June 30, 2012 in the amount of $74,750; and approval of Successor
Agency proposed Administrative Budget for Fiscal Year 2012 -13 in the amount of $250,000.
BACKGROUND:
Section 34177 (j) of Assembly Bill 26 requires the City as Successor Agency to prepare and submit
an administrative budget to the Oversight Board for approval. Section 34171 (b) states that the
administrative costs are payable from property tax revenues up to 3 percent of the taxes
allocated to the Successor Agency for each fiscal year; provided, however, that the amount
shall not be less than two hundred fifty thousand dollars ($250,000) for any fiscal year.
The City, as Successor Agency, is proposing the minimum administrative budget for the 2012 -13
fiscal year in the amount of $250,000. We are also proposing a modest administrative budget for
the five month period from February 1, 2012 through June 30, 2012 in the amount of $74,750 as
shown on the amended draft ROPS schedule under separate review on the April 9, 2012 agenda.
The attached draft administrative budgets for both periods are attached for your review.
If approved, the fiscal 2012 -13 information will be incorporated into the City's overall budget
process to be implemented by the City Council on or before July 1, 2012 for the 2012 -13 fiscal
year. Approval of the current year administrative costs will confirm information included in the
ROPS schedule through June 30, 2012.
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OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY
AGENDA REPORT
MEETING DATE: April 9, 2012 I AGENDA ITEM: 8.F.
TO: Members of the Oversight Board
FROM: Successor Agency Staff
SUBJECT: Establishment of Future Meeting Dates
RECOMMENDATION:
Staff recommends that the Oversight Board discuss and approve future meeting dates.
BACKGROUND:
Future meetings of the Oversight Board are proposed to be held in Conference Room A at City
Hall North, 1600 Truxtun Avenue, Bakersfield, California.
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