RDA MINS 19851106 SPC M I N U T E S
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
SPECIAL MEETING
NOVEMBER 6, 1985
The meeting was called to order at 6:45 P.M. by Agency Chairman McTaggart,
notice having been given with affidavit thereto on file.
PRESENT: MEMBER HINCHLIFFE,
BACHARACH,
RYAN
CHAIRMAN McTAGGART
LATE ARRIVAL: MEMBER HUGHES AT 6:47 P.M.
STAFF PRESENT: Executive Director Guluzzy, Agency
Secretary Purcell, and Finance
Officer Beaubien.
1986-87 PROPOSED BUDGET Executive Director Guluzzy presented
a summary budget showing the funds
available, including the funds re-
ceived from AB 1461 and the General
Fund. He briefed the Agency members
on the potential problems and concerns in the Agency borrowing this money
from the City, the need to include all staff time expended for agency acti-
vities; the legal implications of the lawsuit with the County of Los Ange-
les, what settlement of the Horan case would entail, and the need for a
half-time person in the Finance Department.
The Agency members expressed concern about the timeline for receipt of the
AB 1461 funds , particularly if there is a possibility that it could be held
up by other unrelated legislation. It was the consensus that staff should
find out how long it will take to get these funds.
Executive Director Guluzzy presented a cash flow analysis and how the
expenditures for Paintbrush and Portuguese Canyons , and Lake Ishibashi
affected that cash flow.
Agency members then made inquiries about this cash flow analysis: if the
Agency should be showing an income; whether the City would be paying the
maintenance of the wells; and if these expenses would be paid for out of
the City's General Fund. The members also inquired about the accounting
for funds already expended by the City, and whether the budget should be
adjusted to show the money already spent by the City.
703CP/MIN14.1-2 -1- November 6, 1985
The Agency then commented on the fact that it was their intent to use the
AB 1461 funds to pay for the costs incurred by the Agency. It was the con-
sensus that the Agency Director should examine the wording in the bill to
determine the usage of the funds; and, find out the timing on approval and
release of the AB 1461 funds and define the projects.
The suggestion was made that a Town Hall meeting be held to explain to the
residents the plans for the Redevelopment Agency now that the funds have
been approved.
STAFF TIME The Agency and staff briefly dis-
cussed the accounting procedure and
the ability of current programming
to handle the Agency's accounting
requirements. It was the consensus
that the subcommittee would meet and
discuss this with the Agency's
Finance Office.
ADJOURNMENT At 7:30 P.M. the meeting adjourned
on motion of Member Hughes.
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ATTEST:
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itAGENCY SECRETARY
703CP/MIN14.1-2 -2- November 6, 1985