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SPECIAL MEETING OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO Agenda Item No. 4{A) THE FORMER EL CERRITO REDEVELOPMENT AGENCY MINUTES Monday, May 7, 2012, 8:00p.m. 1. Call to Order El Cerrito City Council Chambers 10890 San Pablo Avenue El Cerrito CA, 94530 Chairperson Jones called the Special Oversight Board of the Former El Cerrito Redevelopment Agency meeting to order at 8:02 p.m. 2. Roll Call Directors Dotson, Friedman, Kronenberg, Myall, Potter, Solseng and Chair Jones all present. 3. Public Comment No speakers. 4. New Business Items A. Approval of Minutes Approve the April 4, 2012 Oversight Board of the Successor Agency to the El Cerrito Redevelopment Agency special meeting minutes. Action: Moved, seconded (Friedman/Kronenberg) and carried unanimously to approve the minutes as submitted. B. Consideration of Corrected First Recognized Obligation Payment Schedule ( 11ROPS"), Draft Second ROPS, and Proposed Fiscal Year 2012-13 Administrative Budget for the Successor Agency to the El Cerrito Redevelopment Agency Adopt Oversight Board resolutions approving: 1) A corrected First Recognized Obligation Payment Schedule ("ROPS"); 2) The Draft Second ROPS; and 3) The Proposed Fiscal Year 2012- 13 Administrative Budget for the Successor Agency to the El Cerrito Redevelopment Agency. ---PAGE BREAK--- Agenda Item No. 4(A) Presenter: Lori Trevino, Economic Development Manager. Action: Moved, seconded (Friedman/Potter) and carried unanimously to adopt Oversight Board Resolution No. 2012-04 approving the corrected draft first recognized obligation payment schedule as required under AB1X26 as amended on the floor to modify the fifth recital of the resolution as follows: WHEREAS, once certified by the Col:lnty Al:lditor Controller and approved by the Oversight Board, the approved ROPS will serve as the spending plan during its operative period; and Action: Moved, seconded (Potter/Friedman) and carried unanimously to adopt Oversight Board Resolution No. 2012-05 approving the second recognized obligation payment schedule as required under AB1X26 as amended on the floor to modify the fifth recital of the resolution as follows: WHEREAS, once certified by the Col:lnty Al:lditor Controller and approved by the Oversight Board, the approved ROPS will serve as the spending plan during its operative period; and Action: Moved, seconded (Myaii/Kronenberg) and carried unanimously to adopt Oversight Board Resolution No. 2012-06 approving the Successor Agency Fiscal Year 2012-13 Administrative Budget as required under AB1X26. 5. Adjourned Special Oversight Board meeting at 8:34p.m.