2015-02-05 Oversight Board MinutesMINUTES OF THE REGULAR MEETING OF THE
OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF VERNON
HELD THURSDAY, FEBRUARY 5, 2015, IN THE
COUNCIL CHAMBER OF THE CITY HALL LOCATED AT
4305 SANTA FE AVENUE, VERNON, CALIFORNIA
MEMBERS PRESENT: W. Michael McCormick, Jonathan S. Fuhrman, Steven Reyes, and
David Vela
MEMBERS ABSENT: William J. Davis, Mary Gallagher, and Marlene Dunn (not sworn-
in)
The meeting was called to order at 4:00 p.m. by Chairperson McCormick who also led the flag
salute.
CHANGES TO THE AGENDA
Successor Agency Staff Alex Kung reported that Marlene Dunn has resigned from the Oversight
Board, no information on a replacement was provided. The Introduction item agendized for this
meeting is removed.
PUBLIC COMMENT
Chairperson McCormick announced that this was the time allotted for public comment and
inquired whether anyone in the audience wished to address the Board. No one responded.
INTRODUCTION ITEMS - REMOVED
1. Removed - Introduction of newly appointed Board Member Marlene Dunn who is
replacing Alex Cherniss as the representative for the Los Angeles County Office of
Education.
MINUTES – TO BE RECEIVED AN FILED
2. Minutes of the Adjourned Regular Meeting of the Oversight Board of the
Successor Agency to the Redevelopment Agency of the City of Vernon held
September 30, 2014.
It was moved by Fuhrman and seconded by Reyes to approve the minutes of the September 30,
2014 meeting with corrections as noted by Chairperson McCormick. Motion carried, 4-0,
ACTION ITEMS
3. Resolution No. OB-37 - A Resolution of the Oversight Board of the Successor
Agency to the Redevelopment Agency of the City of Vernon Adopting, Approving,
and Ratifying the Recognized Obligation Payment Schedule for the Period July 1,
2015 through December 31, 2015, and Approving Certain Related Actions
Pursuant to California Health & Safety Code Sections 34177(l), 34177(m) and
34180(g).
Successor Agency Staff Alex Kung reported on the proposed Recognized Obligation Payment
Schedule.
In response to Member Vela, Kung reported on the approval and communication process with
the Department of Finance.
It was moved by Fuhrman and seconded by Vela to approve Resolution No. OB-37. Motion
carried, 4-0.
Oversight Board of the Successor Agency to the Redevelopment Agency
Regular Meeting Minutes
February 5, 2015
Page 2 of 2
ORAL REPORTS
4. Bandini Grant Deed pursuant to the Long-Range Property Management Plan.
Pursuant to the Board’s directive at the previous Board meeting, Successor Agency Staff Alex
Kung reported on the grant deed and its intent.
Vice Chairperson Fuhrman had questions and concerns should the City receive considerations
from the State if the property is part of its I-710 Freeway expansion’s eminent domain and
reasoned that the consideration should go to the Oversight Board.
Kung reported on the portion of the property that is presumed to be part of the eminent domain,
and the need to maintain a Fire Station at said location.
Member Vela had no concerns with the potential transaction as the property would remain as
governmental use.
5. Brief reports on activities, other brief announcements, and directives to staff.
Successor Agency Staff Alex Kung provided an update on the previous Recognized Obligation
Payment Schedule (“ROPS”) and the use of reserves to off-set bond related expenses.
In response to Vice Chairperson Fuhrman, Kung reported on the bond. In further response to
Fuhrman, City Finance Director William Fox explained the bond’s interest rate.
Kung announced the cancellation of the March 5, 2015 Oversight Board meeting. The next
meeting is scheduled for April 2, 2015.
With no further business, at 4:24 p.m., Chairperson McCormick adjourned the meeting.
________________________
W. Michael McCormick
Chairperson
ATTEST:
_________________________
Maria E. Ayala
Secretary