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Oversight Board for the Successor Agency to the Redevelopment Agency

OVERSIGHT BOARD
for the
City of Riverside as Successor Agency
to the
Redevelopment Agency of the City of Riverside
AGENDA
THURSDAY, MAY 10, 2012, 1 P.M.

Art Pick Council Chamber, City Hall
3900 Main Street, Riverside, CA 92522
City Clerk's Office 951-826-5557

SPEAKER CARDS--If you wish to address the Oversight Board, please complete and submit a speaker card to the City Clerk before the scheduled meeting time. Speaker cards can be found at the east entrance to the Art Pick Council Chamber and City Hall lobby. Speaker cards will be accepted until the agenda item is called. In accordance with the Public Records Act, any information you provide on this form is available to the public.

CHAIR LOVERIDGE CALLS MEETING TO ORDER

1. Public Comment Period - This is the portion of the meeting specifically set aside to invite your comments regarding agenda items 2-7 and/or matters within the jurisdiction of the Oversight Board - Individual audience participation is limited to 3 minutes and you will be asked to state your name and city of residence. Please complete and submit a speaker card to the City Clerk.

2. Minutes of March 30, 2012

3. Department of Finance letter update regarding January to June 2012 Recognized Obligation Payment Schedule (All Wards)

4. Five-year Lease Option with Magnolia’s for $2,791 monthly, waive outstanding rent balance of $7,346, and install two HVAC units for total cost not-to-exceed $15,000 - 3643 Main Street (Ward 1)

5. Issue Requests for Purchase and Development Proposals of Successor Agency-owned properties and disposition timeline - First and Third east of Main Streets, Merrill Avenue Plaza properties, 4019 Mission Inn Avenue, and 2731-2871 University Avenue (Wards 1, 2, and 3)

6. Terms of real property sale to Grae La Sierra, LLC - 10920 Magnolia Avenue (Ward 6)

7. Retain outside counsel for Oversight Board legal services on as-needed basis for not-to-exceed $25,000 through June 30, 2013 (All Wards)

8. Items for future Oversight Board consideration as requested by Board Members

* * * * * * * * *

The next Oversight Board Meeting
meeting is scheduled for 1 p.m. on Thursday, June 14, 2012,
in the Art Pick Council Chamber

Seizing Our Destiny

General Information

Address: 3900 Main St. 7th Floor Riverside, CA 92522 Phone: (951) 826-5557 Hours
Mon - Fri	8:00am - 5:00pm
Closed on Weekends and Major Holidays

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