pages: SuccessorAgencyOversightBoard/2012-08-27.pdf, 5
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SuccessorAgencyOversightBoard | 2012-08-27 | 5 | Successor Agency Oversight Board Minutes of Special Meeting, August 27, 2012 Page 4 question regarding the possibility of buying out a covenant, Member Potter stated that our covenants are not drafted that way. Mr. Doezema continued his presentation. Exhibit B - Personal Property - not applicable. Exhibit C - Encumbered Housing Funds for Enforceable Obligations (AUSD affordable housing and Jack Capon Villa). Regarding the $4.6 million being held in trust for AUSD affordable housing per the pass-through agreement, Mr. Doezema stated that DOF has yet to determine if this is an enforceable obligation or a pass-through. If DOF determines that this is not a housing asset that's encumbered, it could determine that the money should be returned to the Successor Agency for disbursement to taxing entities. Exhibit D - Loans/Grants Receivables - these are deferred or forgivable loans made in conjunction with the development of affordable housing projects. When and if these loans are repaid to the housing successor, they would go back to the Housing Authority for future affordable housing activities. Exhibit G - Deferrals - these are two loan receivables (SERAF - BWIP/WECIP and SERAF - APIP) for funds borrowed from the low-moderate housing fund. The repayment would go to the housing successor. These items are also shown on the ROPS. This item was submitted for information, only; no Board action was requested. 5. RESOLUTION APPROVING 3RD RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) - January 1, 2013 to June 30, 2013 Mr. Doezema explained the latest changes to the ROPS from the prior period ROPS. Motion/Second (Chan, Biggs) to pass the resolution. Motion unanimous (Member Gerhard was absent.) 6. SET UPCOMING MEETING SCHEDULE Member Potter reported that meetings had been scheduled for October 4 and October 11; however, the auditor has notified us that the audits will not be completed in time for an October 1 meeting packet. She asked the members about their availability for meetings on October 29 and November 8. The members indicated a preference for meetings to start at 6:00 p.m. instead of 6:30 p.m. Member Potter will confirm dates next week when she learns more about the audit schedule. The members indicated that October 29 and November 8 would be acceptable reschedule dates if needed. There is also a need to schedule dates for the 80% non-housing fund review. The submittal deadline to DOF is January 15, 2013. Member Potter proposed a first meeting on December 17 or 18 and the second meeting on January 7 or 8. The members indicated a preference for December 17 and January 7. E-mail appointments will be sent to the members. 7. PUBLIC COMMENT Matthew James Fitzgerald read a statement into the record regarding the need to keep money in Alameda County. | SuccessorAgencyOversightBoard/2012-08-27.pdf |