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* Concurrent Meeting of the Joint Powers Financing Authority and Finance and Management Committee

Tuesday, May 13, 2003 · 2:30 PM AM · Hearing Room One - 1st Floor

TL;DR

The Oakland City Council's Joint Powers Financing Authority and Finance Committee met to discuss various financial and administrative matters. Key actions included approving city reserve policies, authorizing real estate services, and finalizing a lease with a local non-profit organization.

Key Decisions

  • City Reserve Policies Establishment Passed
  • Real Estate Title and Escrow Services Contract Passed
  • 20-Year Lease with Family Bridges, Inc. Passed
  • Joint Powers Financing Authority Bond Agreement Passed

Agenda

  1. Untitled item
  2. From May 27, 2003:
  3. Untitled item
  4. 003559 Subject: Business Tax Board of Review From: City Attorney's Office Recommendation: Adopt an Ordinance amending Chapter 5.04 of the Oakland Municipal Code to remove the City Attorney as a Member of the Business Tax Board of Review and provide that the Mayor shall nominate an official, officer or employee of the City as a member of the Business Tax Board of Review
    Ordinance
    Action: Rescheduled
  5. 003562 An Informational Report regarding Fiscal Year 2001-02 ICMA Benchmarking Report
    Informational Report
    Action: Rescheduled
  6. 003563 An Informational Report regarding Fiscal Year 2002-03 Second Quarter Performance Measurement Report
    Informational Report
    Action: Rescheduled
  7. Untitled item
  8. Untitled item
  9. Adjournment
  10. Untitled item
  11. Roll Call/Call to Order
  12. Untitled item
  13. 1 Approval of the Draft Minutes from the Committee Meeting held on April 29, 2003
    Action: Approve as Submitted Passed

    A motion was made by Member Nadel, seconded by Member Brunner, to Approve as Submitted. The motion carried by the following vote:

  14. 2 Determination of Schedule of Outstanding Committee Items
    Action: Approve with the following amendments Passed

    A motion was made, seconded by Chair Wan, to Approve with the following amendments. The motion carried by the following vote:

  15. 3 Subject: Business Tax Refund Audit From: Office of the City Auditor Recommendation: Receive a report regarding the Business Tax Refund Audit
    Informational Report
    Action: Accepted and forwarded - DEFUNCT Passed

    A motion was made, seconded by Member Brunner, that this matter be Accepted and forwarded - DEFUNCT to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  16. 5 Subject: City of Oakland Reserve Policies From: Financial Services Agency Recommendation: Approve the Introduction (First Reading) an Ordinance establishing a General Fund Reserve Policy, establishing and funding a Reserve Fund for the Capital Improvement Fund, and repealing the prior Reserve Policy of the City
    Ordinance
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made by Member Brunner, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on June 3, 2003. The motion carried by the following vote:

  17. 6 Subject: Real Estate Title and Escrow Services From: Community and Economic Development Agency Recommendation: Adopt a Resolution authorizing the City of Oakland to obtain real estate title and escrow services for the two year period beginning July 1, 2003 through June 30, 2005 in an aggregate amount not to exceed $175,000 per year
    City Resolution
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made by Member Brunner, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  18. Untitled item
  19. 7 ORA Subject: Real Estate Title and Escrow Services From: Community and Economic Development Agency Recommendation: Adopt a Redevelopment Agency Resolution authorizing the Agency through the City of Oakland to obtain real estate title and escrow services from July 1, 2003 through June 30, 2005 in an aggregate amount not to exceed $175,000 per year
    ORA Resolution
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made by Member Brunner, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  20. Untitled item
  21. 8 Subject: City Center T-10 Site From: Community and Economic Development Agency Recommendation: Approve the Introduction (First Reading) an Ordinance authorizing the sale of the City Center T-10 Site at Jefferson Street, Martin Luther King Jr. Way, 14th Street and the 13th Street pedestrian walk, to the Redevelopment Agency for $7 million ($7,000,000)
    Ordinance
    Action: Rescheduled
  22. 9 ORA Subject: City Center T-10 Site From: Community and Economic Development Agency Recommendation: Adopt an Agency resolution authorizing the purchase of the City Center T-10 Site at Jefferson Street, Martin Luther King Jr. Way, 14th Street and the 13th Street pedestrian walk, from the City for $7 million ($7,000,000)
    City Resolution
    Action: Rescheduled
  23. 10 Subject: City Center T-10 Site Impartial Financial Analysis From: Office of the City Auditor
    Informational Report
    Action: Rescheduled
  24. Untitled item
  25. 11 JPFA Subject: 1998 Joint Powers Financing Authority Bonds From: Financial Services Agency Recommendation: Adopt a Joint Powers Financing Authority Resolution approving the form of a Standby Purchase Agreement supporting payment of Oakland Joint Powers Financing Authority Lease Revenue Bonds, 1998 Series A; authorizing the execution and delivery thereof; and authorizing similar agreements to maintain an arrangement to provide support for the payment of the bonds upon optional or mandatory tender at all times while such bonds bear interest at a variable interest rate
    City Resolution
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made by Member Brunner, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  26. Untitled item
  27. 12 Subject: 1998 Joint Powers Financing Authority Bonds From: Financial Services Agency Recommendation: Adopt a Resolution of the City Council of the City of Oakland approving the form of a Standby Purchase Agreement supporting payment of Oakland Joint Powers Financing Authority Lease Revenue Bonds, 1998 Series A; authorizing the execution and delivery thereof; approving the retention of Bond Counsel and other agents; and authorizing similar agreements to maintain an arrangement to provide support for the payment of the bonds upon optional or mandatory tender at all times while such bonds bear interest at a variable interest rate
    City Resolution
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made by Member Brunner, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on May 27, 2003. The motion carried by the following vote:

  28. Untitled item
  29. 13 Subject: Family Bridges, Inc. From: Life Enrichment Agency Recommendation: Final Adoption (Second Reading) of an Ordinance authorizing the City Manager to enter into a twenty-year lease with one ten year option with Family Bridges, Inc., in the amount of $1 per year in exchange for In-Kind services and construction of tenant/structural improvements of the building site in lieu of fair market monthly rent for City owned property located at 261 11th Street in Oakland
    Ordinance
    Action: Approved the Recommendation of Staff, and Forward Passed

    A motion was made, seconded by Member Nadel, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  30. 14 Subject: Fiscal Year 2003-2005 Budget/Tracking of Questions From: Office of the City Manager
    Informational Report
    Action: Accepted and forwarded - DEFUNCT Passed

    A motion was made by Member Nadel, seconded by Member Brunner, that this matter be Accepted and forwarded - DEFUNCT to the Meeting of the Oakland City Council, due back on May 20, 2003. The motion carried by the following vote:

  31. Open Forum (Total Time Available: 15 Minutes)
  32. 9 ORA Subject: City Center T-10 Site From: Community and Economic Development Agency Recommendation: Adopt an Agency resolution authorizing the purchase of the City Center T-10 Site at Jefferson Street, Martin Luther King Jr. Way, 14th Street and the 13th Street pedestrian walk, from the City for $7 million ($7,000,000)
    City Resolution
  33. NOTES: Americans With Disabilities Act If you need special assistance to participate in Oakland City Council and Committee meetings please contact the Office of the City Clerk. When possible, please notify the City Clerk 48 hours prior to the meeting so we can make reasonable arrangements to ensure accessibility. Also, in compliance with Oakland's policy for people with environmental illness or multiple chemical sensitivities, please refrain from wearing strongly scented products to meetings. Office of the City Clerk - Agenda Management Unit Phone: (510) 238-6406 Fax: (510) 238-6699 Recorded Agenda: (510) 238-2386 Telecommunications Display Device: (510) 238-3254
    City Resolution