Title
a. Receive an update regarding the Fort Ord Reuse Authority proposal to issue a bond against its statutory share of property tax revenue for building removal on the former Fort Ord;
b. Consider making a recommendation to the Fort Ord Reuse Authority and provide direction to staff regarding the bond issuance; and
c. Adopt a resolution to: Authorize and direct the Auditor-Controller to amend FY 2019-20 Resource Management Agency Adopted Budget, Fund 001, Appropriation Unit RMA013, to increase appropriations by $50,000 to be used for financial analysis and specialized bond counsel services, financed by an operating transfer from General Fund Contingencies, Fund 001, Appropriation Unit CAO020, of $50,000 (4/5th vote required); Approve Standard Agreement with Fieldman, Rolapp & Associates, Inc. to provide financial analysis to the County for the Fort Ord Reuse Authority proposed bond issuance for a total amount not to exceed amount $25,000 for a term of October 8, 2019 to December 31, 2020; Authorize the Resource Management Agency Director or his designee to execute the Standard Agreement and up to two (2) future amendments to the Agreement where the amendments do not significantly alter the scope of work or change the approved Agreement amount by more than 10%; and Authorize County Counsel to retain specialized bond counsel services in an amount not to exceed $25,000.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive an update regarding the Fort Ord Reuse Authority proposal to issue a bond against its statutory share of property tax revenue for building removal on the former Fort Ord;
b. Consider making a recommendation to the Fort Ord Reuse Authority and provide direction to staff regarding the bond issuance; and
c. Adopt a resolution to: Authorize and direct the Auditor-Controller to amend FY 2019-20 Resource Management Agency Adopted Budget, Fund 001, Appropriation Unit RMA013, to increase appropriations by $50...
Click here for full text