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4. DEPARTMENT OF EDMUND G. BROWN JR. • GOVERNOR
C'j C,PORN‘P F I N A N C E 91 5 L STREET■ SACRAMENTO CA ■ 955 1 4-3706 •WWW.00K.CA.GOV
May 15, 2013
Ms. Veronica Tapia, Accountant II
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, CA 92260
Dear Ms. Tapia:
Subject: Finding of Completion
The California Department of Finance (Finance) has completed the Finding of Completion for the City of
Palm Desert Successor Agency.
Finance has completed its review of your documentation, which may have included reviewing supporting
documentation submitted to substantiate payment or obtaining confirmation from the county auditor-
controller. Pursuant to Health and Safety Code (HSC) section 34179.7, we are pleased to inform you
that Finance has verified that the Agency has made full payment of the amounts determined under HSC
section 34179.6, subdivisions (d)or(e) and HSC section 34183.5.
This letter serves as notification that a Finding of Completion has been granted. The Agency may now
do the following:
• Place loan agreements between the former redevelopment agency and sponsoring entity on the
ROPS, as an enforceable obligation, provided the oversight board makes a finding that the loan
was for legitimate redevelopment purposes per HSC section 34191.4 (b) (1). Loan repayments
will be governed by criteria in HSC section 34191.4 (a) (2).
• Utilize proceeds derived from bonds issued prior to January 1, 2011 in a manner consistent with
the original bond covenants per HSC section 34191.4 (c).
Additionally, the Agency is required to submit a Long-Range Property Management Plan to Finance for
review and approval, per HSC section 34191.5 (b), within six months from the date of this letter.
Please direct inquiries to Andrea Schaeffer, Staff Finance Budget Analyst, or Chris Hill, Principal Program
Budget Analyst, at(916) 445-1546.
iierr. .._,Cfa___I BY OVERSIGHT BOARL'
Sincerely,
ON-c-f-
y-
VERIFIED BY.__ cc-�r--,
/� STEVE SZALAY Original on file with City Clerk's Office
Local Government Consultant
cc: Ms. Janet Moore, Director of Housing, City of Palm Desert
Ms. Pam Elias, Chief Accounting Property Tax Division, County of Riverside Auditor-Controller
California State Controller's Office