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2013-01 RESOLUTION NO. OB poi A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE AUTHORIZING THE EXECUTIVE DIRECTOR TO TAKE ALL ACTIONS NECESSARY AND PERMITTED TO TERMINATE THE AGREEMENT WITH THE GRAND TERRACE CHAMBER OF COMMERCE WHEREAS, Successor Agency for the Community Redevelopment Agency for the City of Grand Terrace ("Successor Agency")' submitted a Recognized Obligation Payment Schedule covering the period of January 1, 2013'to June 30, 2013 which included the Agreement with the Grand Terrace Chamber of Commerce ("Chamber Agreement"); and WHEREAS, in an October 19, 2012 letter, the Department of Finance ("DOF") has denied the Agreement with the Grand Terrace Chamber of Commerce as an enforceable obligation; and WHEREAS, the Successor Agency requested a Meet & Confer with the DOF for the purpose of arguing that the Chamber Agreement is an enforceable obligation under the Health & Safety Code; and WHEREAS, this Meet & Confer occurred on November 15, 2012; and WHEREAS, the DOF made its final determination that the Chamber Agreement is not an enforceable obligation in a letter dated December 18, 2012; and WHEREAS, the Oversight Board, upon review of the results of the Meet & Confer and DOF's December 18, 2012 Determination letter, desires to terminate the Chamber Agreement, pursuant to its terms, as authorized by Health & Safety Code 34181(b). NOW THEREFORE, BE IT RESOLVED by the Oversight Board, as follows: SECTION 1. The Oversight Board finds and determines that the foregoing recitals are true and correct. SECTION 2. The Oversight Board has reviewed presentations and materials submitted by the Successor Agency and finds that it is in the best interest Successor Agency to terminate the Chamber Agreement. SECTION 3. Pursuant to Health & Safety Code Section 34181(b), the Oversight Board directs and authorizes the Executive Director to cease performance in ■ r_ connection with and terminate the Chamber Agreement and to take all actions T necessary, permitted, and required to effectively terminate the.Chamber Agreement.- SECTION 4. The Executive Director . is authorized to submit this Resolution to the Department of Finance and any other relevant agency as permitted and required by law including, but not limited to,' Parts 1.8 and 1.85 .of the California Health & Safety Code. The Executive Director is further authorized to take all necessary and required actions to ensure that this Resolution is carried out according to.law. SECTION 5. This Resolution of the Oversight Board shall not be effective until five business days after its adoption or, in the case where the Department of Finance has requested a review of this Resolution pursuant to Health & Safety Code section 34179, upon Department of Finance approval pursuant to Health & Safety Code section 34179. SECTION 6. The Successor Agency shall maintain on file as a public record this Resolution. PASSED, APPROVED, AND ADOPTED at a regular meeting of the Oversight Board of Successor Agency to Grand Terrace Redevelopment Agency, held on this the 6th day of February 2013 by the following vote: AYES: Board Members Shields, Miranda, Morga and Ferracone; Vice-Chhjirman Saks andt,Chh6lrmhhi St)auckiiewitz - NOES: None ABSENT: None ABSTAIN: None Walt Stanckiewitz;Chair, Oversight Board of Successor Agency to.Grand Terrace Redevelopment Agency ATTEST: Oversight bard Secretary ( V ,