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HomeMy WebLinkAbout2011-03-10 FA Regular Meeting Agenda POSTED AGENDA PALM DESERT FINANCING AUTHORITY MEETING THURSDAY, MARCH 10, 2011 CIVIC CENTER COUNCIL CHAMBER I. CALL TO ORDER – 3:00 P.M. 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. – 5:00 p.m., 73510 Fred Waring Drive, Palm Desert, CA 92260, (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 11, 2010. Rec: Approve as presented. IV. CONSENT ITEMS HELD OVER V. RESOLUTIONS None POSTED AGENDA PALM DESERT HOUSING AUTHORITY MEETING MARCH 10, 2011 VI. NEW BUSINESS A. REQUEST FOR APPROVAL OF ACTIONS RELATED TO AMENDMENT OF THE PALM DESERT "STATEMENT OF INVESTMENT POLICY" TO INCLUDE THE RIVERSIDE COUNTY TREASURER'S POOLED INVESTMENT FUND AS AN INVESTMENT (JOINT CONSIDERATION WITH THE PALM DESERT CITY COUNCIL, PALM DESERT REDEVELOPMENT AGENCY, AND PALM DESERT HOUSING AUTHORITY). Rec: 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. Action: VII. CONTINUED BUSINESS None VIII. OLD BUSINESS None IX. PUBLIC HEARINGS None 2 POSTED AGENDA PALM DESERT HOUSING AUTHORITY MEETING MARCH 10, 2011 X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. 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, Housing Authority, 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, Housing Authority, or Financing Authority Boards. Because the Brown Act does not allow the City Council, Redevelopment Agency, Housing Authority, 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, Housing Authority, 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 4 day of March, 2011. ________________________________________ RACHELLE D. KLASSEN, CITY CLERK 3 DRAFT -M.- A PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING THURSDAY, MARCH 11, 2010 CIVIC CENTER COUNCIL CHAMBER 73510 FRED WARING DRIVE, PALM DESERT, CA 92260 I. CALL TO ORDER - 3:00 P.M. President Finerty convened the meeting at 3:00 p.m. II. ROLL CALL Present: Commissioner Jean M. Benson Vice President Jim Ferguson Commissioner Richard S. Kelly Commissioner Robert A. Spiegel President Cindy Finerty Also Present: John M. Wohlmuth, City Manager/RDA Executive Director David J. Erwin, City Attorney Stephen Y. Aryan, Assistant to the City Manager Rachelle D. Klassen, City Clerk Bo Chen, City Engineer Russell Grance, Director of Building & Safety Lauri Aylaian, Director of Community Development 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 Ferguson, second by Kelly, and 5-0 vote of the Authority Board, Chairman Finerty adjourned the meeting to Closed Session of the City Council and Redevelopment Agency at 3:00 p.m. She reconvened the meeting at 4:00 p.m. DRAFT PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING MARCH 11, 2010 III. CONSENT CALENDAR A. MINUTES of the Financing Authority Meeting of February 11, 2010. Rec: Approve as presented. Upon a motion by Spiegel, second by Kelly, and 5-0 vote of the Authority Board, the Consent Calendar was approved as presented. IV. CONSENT ITEMS HELD OVER None V. RESOLUTIONS None VI. NEW BUSINESS A. REQUEST FOR AWARD OF CONTRACTS FOR BANKING AND CUSTODY SERVICES TO UNION BANK FOR A TERM OF FIVE(5)YEARS, WITH AN OPTION TO RENEW FOR AN ADDITIONAL TWO(2)YEARS(CONTRACT NOS. C29640A AND C29640B) (JOINT CONSIDERATION WITH THE PALM DESERT CITY COUNCIL, PALM DESERT REDEVELOPMENT AGENCY, AND PALM DESERT HOUSING AUTHORITY). Councilmember/Member/Commissioner Benson moved to, by Minute Motion: 1) Award Banking and Custody Services Contracts to Union Bank for a term of five(5)years, with an option to renew for an additional two (2) years; 2) authorize the City Treasurer to execute said Banking and Custody Services Contracts on behalf of the City. Motion was seconded by Spiegel and carried by a 5-0 vote. VII. CONTINUED BUSINESS None VIII. OLD BUSINESS None IX. PUBLIC HEARINGS None 2 DRAFT PRELIMINARY MINUTES PALM DESERT FINANCING AUTHORITY MEETING MARCH 11, 2010 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 Xl. ADJOURNMENT On a motion by Spiegel, second by Benson, and unanimous vote of the Authority Board, President Finerty adjourned the meeting at 4:19 p.m. CINDY FINERTY, PRESIDENT ATTEST: RACHELLE D. KLASSEN, SECRETARY PALM DESERT FINANCING AUTHORITY 3