HomeMy WebLinkAbout2007-01-08MINUTES
ADJOURNED REGULAR MEETING
RIVERSIDE COUNTY PALM DESERT FINANCING AUTHORITY
MONDAY, JANUARY 8, 2007 — 10:30 A.M.
NORTH WING CONFERENCE ROOM - PALM DESERT CIVIC CENTER
73-510 FRED WARING DRIVE, PALM DESERT, CALIFORNIA 92260
I. CALL TO ORDER
Commissioner Ortega convened the meeting at 10:35 a.m.
II. ROLL CALL
Present:
Commissioner Dan Martinez (Alternate)
Commissioner Carlos L. Ortega
Vice President S. Roy Wilson
President Richard S. Kelly
Excused Absence:
Commissioner Larry Parrish
Also Present:
Justin McCarthy, ACM for Redevelopment, City of Palm Desert
Paul S. Gibson, Director of Finance/City Treasurer/Authority Treasurer
Stephen Y. Aryan, Assistant to the City Manager, City of Palm Desert
Rob Field, Director of Facilities Management, County of Riverside
Rachelle D. Klassen, City Clerk/Authority Secretary
III. ORAL COMMUNICATIONS
None
IV. CONSENT CALENDAR
A. MINUTES of the Adjourned Regular Riverside County Palm Desert Financing
Authority Meeting of November 6, 2006.
Rec: Approve as presented.
Upon a motion by Wilson, second by Kelly and 4-0 vote of the Authority Commission
Board, the Consent Calendar was approved as presented.
MINUTES
ADJOURNED REGULAR MEETING OF THE
RIVERSIDE COUNTY PALM DESERT
FINANCING AUTHORITY
V. CONSENT ITEMS HELD OVER
None
VI. NEW BUSINESS
JANUARY 8, 2007
A. REQUEST FOR APPROVAL OF A TRANSFER OF PASS -THROUGH
FUNDS TO THE RIVERSIDE COUNTY DEPARTMENT OF FACILITIES
MANAGEMENT.
Commissioner Ortega noted the staff report and pointed out that the funds
being requested were those held in trust for the County by the City pursuant
to the Pass -through agreements.
Vice President Wilson moved to, by Minute Motion, approve the transfer of
$6,000,000 in Riverside County Palm Desert Redevelopment Pass -through Funds to the
Riverside County Department of Facilities Management for funding of : 1) Phase I costs
related to construction of the new Cove Communities Sheriffs Station; 2) construction of
a new, replacement Riverside County Animal Shelter in Blythe, California; 3) mechanical
system enhancement project for the Coachella Valley Animal Campus. Motion was
seconded by Martinez and carried by a 4-0 vote.
VII. CONTINUED BUSINESS
None
VIII. OLD BUSINESS
None
Xl. REPORTS AND REMARKS
A. PRESIDENT
None
B. VICE PRESIDENT
None
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MINUTES
ADJOURNED REGULAR MEETING OF THE
RIVERSIDE COUNTY PALM DESERT
FINANCING AUTHORITY
C. MEMBERS OF THE AUTHORITY
JANUARY 8, 2007
In response to question about status of the proposed project list for bond
financing, Commissioner Martinez answered the main item on that list was
the Sheriffs Station, projected at $35 million, and County staff was moving
forward with negotiating purchase of the 10 acres. He said the project
needed to be designed in order to more accurately determine the cost and
estimated it would take six months. Once that project was ready for bonding,
he added that the County would also be able to proceed with any other
projects on the list that were ready.
Commissioner Ortega noted that the bond market was currently holding
steady and in a favorable position for the Authority. Mr. Gibson agreed.
Upon question about the County's process prior to bond issuance,
Commissioner Martinez confirmed that the matter would need to be
considered by the Debt Advisory Committee, and he was already talking with
them to help facilitate it. Additionally, he responded that the action item on
this agenda to transfer $6 million would be receiving Board of Supervisors
approval yet this month, and he would then advise the City with remittance
instructions.
D. STAFF
None
X. ADJOURNMENT
With no further business or discussion and Authority Commission Board
concurrence, the meeting was adjourned at 10:43 a.m.
ATTEST:
RA HELLS D. KiSEN, ECRETARY
RIVERSIDE COUNTY PALM DESERT
FINANCING AUTHORITY
2ie/ki
ARD S. KELLY, PRESIDEN
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