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HomeMy WebLinkAbout2011-04-11 FA Regular Meeting Agenda POSTED AGENDA PALM DESERT FINANCING AUTHORITY MEETING THURSDAY, APRIL 14, 2011 CIVIC CENTER COUNCIL CHAMBER 73-510 FRED WARING DRIVE, PALM DESERT, CA 92260 I. CALL TO ORDER II. ROLL CALL Reports and documents relating to each of the following items listed on the agenda, including those received following posting/distribution, are on file in the Office of the City Clerk and are available for public inspection during normal business hours, Monday-Friday, 8:00 a.m., 73510 Fred Waring Drive, Palm Desert, CA 92260, telephone (760) 346-0611. III. CONSENT CALENDAR ALL MATTERS LISTED ON THE CONSENT CALENDAR ARE CONSIDERED TO BE ROUTINE AND WILL BE ENACTED BY ONE ROLL CALL VOTE. THERE WILL BE NO SEPARATE DISCUSSION OF THESE ITEMS UNLESS MEMBERS OF THE CITY COUNCIL OR AUDIENCE REQUEST SPECIFIC ITEMS BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE DISCUSSION AND ACTION UNDER SECTION XI, CONSENT ITEMS HELD OVER, OF THE AGENDA. A. MINUTES of the Financing Authority Meeting of March 10, 2011. Rec: Approve as presented. B. REQUEST FOR RENEWAL of the Trust Agreement Between Wells Fargo Corporate Trust Services and the City of Palm Desert for Another Five (5) Years (Contract No. C24551) (Joint Consideration with the Palm Desert City Council and the Palm Desert Redevelopment Agency). Rec: By Minute Motion, approve renewal of the Trust Agreement between Wells Fargo Corporate Trust Services and the City of Palm Desert for another five (5) years. IV. CONSENT ITEMS HELD OVER V. RESOLUTIONS None POSTED AGENDA PALM DESERT HOUSING AUTHORITY MEETING APRIL 14, 2011 VI. NEW BUSINESS None VII. CONTINUED BUSINESS None VIII. OLD BUSINESS None IX. PUBLIC HEARINGS None X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. CHIEF EXECUTIVE DIRECTOR B. AUTHORITY COUNSEL C. CHAIRMAN AND MEMBERS OF THE AUTHORITY XI. ORAL COMMUNICATION – C Any person wishing to discuss any item not scheduled for public hearing may address the City Council, Redevelopment Agency, or Financing Authority Boards at this point by stepping to the lectern and giving his/her name and address for the record. Remarks shall be limited to a maximum of three minutes unless additional time is authorized by the City Council, Redevelopment Agency, or Financing Authority Boards. Because the Brown Act does not allow the City Council, Redevelopment Agency, or Financing Authority Boards to take action on items not on the Agenda, members will not enter into discussion with speakers but will instead refer the matter to staff for report and recommendation at a future City Council, Redevelopment Agency, or Financing Authority meeting. XII. ADJOURNMENT I hereby certify, under penalty of perjury under the laws of the State of California, that the foregoing agenda for the Palm Desert Financing Authority was posted on the City Hall bulletin board not less th than 72 hours prior to the meeting. Dated this 8 day of April, 2011. RACHELLE D. KLASSEN, CITY CLERK 2 D RAFT _- `�� PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING THURSDAY, MARCH 10, 2011 CIVIC CENTER COUNCIL CHAMBER 73510 FRED WARING DRIVE, PALM DESERT, CA 92260 CALL TO ORDER - 3:00 P.M. President Benson convened the meeting at 3:00 p.m. II. ROLL CALL Present: Commissioner Cindy Finerty Commissioner Jan C. Harnik Commissioner William R. Kroonen Vice President Robert A. Spiegel President Jean M. Benson Also Present: John M. Wohlmuth, City Manager/RDA Executive Director David J. Erwin, City Attorney Justin McCarthy, ACM for Redevelopment Stephen Y. Aryan, Assistant to the City Manager Rachelle D. Klassen, City Clerk Russell Grance, Director of Building & Safety Paul S. Gibson, Director of Finance/City Treasurer Janet M. Moore, Director of Housing Mark Greenwood, Director of Public Works Frankie Riddle, Director of Special Programs Bill Hunley, Battalion Chief, Palm Desert Fire/Riverside Co. Fire Dept./Cal Fire Andrew Shouse, Asst. Chief, Palm Desert Police/Riverside Co. Sheriff's Dept. Grace L. Mendoza, Deputy City Clerk Upon a motion by Spiegel, second by Kroonen, and 5-0 vote of the Authority Board, President Benson adjourned the meeting to Closed Session of the City Council and Redevelopment Agency at 3:01 p.m. She reconvened the meeting at 4:00 p.m. PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING I11. CONSENT CALENDAR DRAFT MARCH 10, 2011 A. MINUTES of the Financing Authority Meeting of March 11, 2010. Rec: Approve as presented. Upon a motion by Spiegel, second by Finerty, and 4-0-1 vote of the Authority Board, with Harnik ABSTAINING, the Consent Calendar was approved as presented. IV. CONSENT ITEMS HELD OVER None V. RESOLUTIONS None VI. NEW BUSINESS A. REQUEST FOR APPROVAL OF ACTIONS RELATED TO AMENDMENT OF THE PALM DESERT "STATEMENT OF INVESTMENT POLICY" TO INCLUDE THE RIVERSIDE COUNTYTREASURER'S POOLED INVESTMENT FUND AS AN INVESTMENT (JOINT CONSIDERATION WITH THE PALM DESERT CITY COUNCIL, PALM DESERT REDEVELOPMENT AGENCY, AND THE PALM DESERT HOUSING AUTHORITY). Councilmember/Member/Commissioner Finerty moved to: 1) By Minute Motion, approve proposed amendment to the Palm Desert "Statement of Investment Policy" to authorize the Riverside County Treasurer's Pooled Investment Fund as an investment; 2) waive further reading and adopt City Council Resolution No. 2011 - 14, authorizing the investment of monies in the Riverside County Treasurer's Pooled Investment Fund; 3) waive further reading and adopt Redevelopment Agency Resolution No. 583, authorizing the investment of monies in the Riverside County Treasurer's Pooled Investment Fund. Motion was seconded by Kroonen. Mayor Pro Tem/Vice Chairman/Vice President Spiegel asked how much did the City plan to transfer to the Riverside County Treasurer's Pooled Investment Fund. Mr. Gibson answered that potentially up to 30% of the City's portfolio could be invested, which was $60 to $70 million. Further responding, he said it was a secured investment. Mayor/Chairman/President Benson called for the vote, and the motion carried on a 5-0 vote. 2 PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING VII. CONTINUED BUSINESS None VIII. OLD BUSINESS None IX. PUBLIC HEARINGS None DRAFT MARCH 10, 2011 X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. CHIEF ADMINISTRATIVE OFFICER None B. AUTHORITY COUNSEL None C. PRESIDENT AND MEMBERS OF THE AUTHORITY None XI. ORAL COMMUNICATIONS - C None XII. ADJOURNMENT On a motion by Spiegel, second by Finerty, and 5-0 vote of the Authority Board, President Benson adjoumed the meeting at 5:26 p.m. JEAN M. BENSON, PRESIDENT ATTEST: RACHELLE D. KLASSEN, SECRETARY PALM DESERT FINANCING AUTHORITY 3