2013 10-09OVERSIGHT BOARD MINUTES
(TO THE SUCCESSOR AGENCY OF THE POWAY REDEVELOPMENT AGENCY)
October 9, 2013
City of Poway, City Hall
Main Conference Room #2060, 2nd Floor
13325 Civic Center Drive, Poway, CA 92064
CALL TO ORDER
The Special Meeting was called to order at 8:33 a.m.
ROLL CALL
Present were:
CHAIR: Bruce Tarzy, MD, City of Poway
VICE CHAIR: Lois Fong- Sakai, County Board of Supervisors
BOARD MEMBER: Jim Lyon, City of Poway (former RDA employee)
BOARD MEMBER: Tom Scott, County Board of Supervisors (arrived at 8:35 a.m.)
BOARD MEMBER: David Tam, MD, Palomar Health
Absent:
BOARD MEMBER: Phyllis Laderman, Palomar Community College District
BOARD MEMBER: Malliga Tholandi, San Diego County Board of Education
Other Attendees:
Penny Riley, Executive Director, City of Poway; Tina White, Assistant Executive
Director, City of Poway; Sheila R. Cobian, Secretary, City of Poway; Jay Virata,
Economic Development Manager, City of Poway; Andrew White, Finance Manager,
City of Poway; Ashley Jones, Senior Management Analyst, City of Poway.
PUBLIC COMMENT
None.
BOARD BUSINESS
1. Approval of 2014 Regular Meeting Schedule.
Motion by Board Member Lyon, seconded by Vice Chair Fong -Sakai approving the
2014 Regular Meeting Schedule for the Oversight Board to the Successor Agency of
the Poway Redevelopment Agency. Motion carried unanimously.
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Oversight Board Minutes — October 9, 2013
2. Approval of the September 25, 2013 Special Meeting Minutes of the Oversight
Board to the Successor Agency of the Poway Redevelopment Agency.
Motion by Board Member Tam, seconded by Board Member Lyon approving the
September 25, 2013 Special Meeting Minutes of the Oversight Board to the
Successor Agency of the Poway Redevelopment Agency. Motion carried
unanimously.
3. Poway Hampton Inn Assignment and Assumption Agreement.
Senior Management Analyst Ashley Jones gave a brief overview of the staff report.
In response to Chair Tarzy, Analyst Jones confirmed that the Reciprocal Easement
Agreement (REA) currently in place, which provides for shared maintenance and
parking between the hotel and adjacent property, will remain with the property even
when sold.
Chair Tarzy asked when the taxing entities might see the funds from the Assignment
and Assumption Agreement.
Finance Manager Andrew White explained that the funds could be handled one of
two ways. The first would be to use the funds to reduce future Recognized Obligation
Payments. The second option would be to distribute the funds to the taxing entities.
We will be advised of the appropriate method by the Department of Finance.
Chair Tarzy suggested that within the next year staff prepare a reconciliation report
that could be presented to the Boards of the taxing entities.
Executive Director Riley stated that staff will prepare the reconciliation reports on an
annual basis.
In response to Board Member Scott, Analyst Jones explained that the hotel would
retain the Hampton Inn name following the sale.
Motion by Vice Chair Fong- Sakai, seconded by Board Member Lyon, approving
Resolution No. OSB 13 -010 consenting to the Assignment and Assumption of the
Disposition and Development Agreement; and, Authorizing the Executive Director to
Execute the Agreement and Cancel the Promissory Note and Reconvey the Deed of
Trust upon Payment in Full of the Promissory Note. Motion carried unanimously.
ADJOURNMENT
The meeting was adjourned at 8:52 a.m.
Sheila R. Cobian, CMC
Secretary
Oversight Board to the Successor
Agency of the Poway Redevelopment
Agency
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