Title
Auditor-Controller recommending the Board appoint Tom Davis to the El Dorado Countywide Oversight Board.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The El Dorado Countywide Oversight Board (EDCOB) was established by California Senate Bill 107 and pursuant to California Health and Safety Code § 34179(j).
The purpose of the EDCOB is to oversee and direct the Successor Agency starting July 1, 2018 within the County of El Dorado. This Successor Agency was established after the dissolution of South Lake Tahoe Redevelopment Agency in 2012.
The EDCOB has fiduciary responsibility to the holders of obligations and taxing entities that benefit from distributions of property tax revenue (Health and Safety Code § 34179(i)). Debts and contract obligations are paid through a mechanism called the Redevelopment Obligation Payment Schedule (ROPS). Each year, the EDCOB must approve the ROPS and submit it to the state Department of Finance by February 1, which then makes final determinations authorizing debt payments.
ALTERNATIVES
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PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
None
CLERK OF THE BOARD FOLLOW UP ACTIONS
N/A
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Joe Harn
Auditor-Controller