December 13, 2024
1 (NOT APPROVED)
CITY OF SANTA MONICA
REDEVELOPMENT SUCCESSOR AGENCY MEETING MINUTES
FEBRUARY 13, 2024
A special meeting of the Santa Monica Redevelopment Successor Agency was called to order by Chair Brock at 8:46 p.m., on Tuesday, February 13, 2024, at City Council Chambers, 1685 Main Street, Santa Monica, CA.
Roll Call: Present: Chair Phil Brock
Chair Pro Tem Lana Negrete
Agency Member Gleam Davis
Agency Member Oscar de la Torre
Agency Member Christine Parra
Agency Member Caroline Torosis
Agency Member Jesse Zwick
Also Present: Executive Director David White
Agency Attorney Douglas Sloan
Interim Agency Secretary Nikima S. Newsome
CONVENE On order of the Chair, the Redevelopment Successor Agency convened to a joint meeting with the City Council at 8:46 p.m., with all members present.
REPORT ON MEETING
COMPENSATION
Pursuant to State law, Interim Agency Secretary Nikima S. Newsome announced that members will receive no compensation for meeting as the Redevelopment Successor Agency.
PUBLIC INPUT FOR
CONSENT CALENDAR
ONLY:
Members of the public Denise Barton and Harvey Eder commented on consent calendar items.
CONSENT CALENDAR:
JOINT MEETING WITH
THE REDEVELOPMENT
SUCCESSOR AGENCY
There being a Consent Calendar for the City Council and the Redevelopment Successor Agency, on order of the Mayor, with consensus of the Councilmembers, the Council convened to a joint meeting with the Redevelopment Successor Agency at 8:46 p.m., and the two Consent Calendars were heard concurrently, with all members present.
December 13, 2024
2 ANNUAL INVESTMENT
POLICY UPDATE
All items were considered and approved in one motion unless removed by a Councilmember for discussion.
5.H. Annual Investment Policy Update, was presented.
Recommended Action
Staff recommends that the City Council:
1. Adopt a finding of no possibility of significant effect pursuant to Section 15061(b)(3) (Common Sense Exemption) of the
California Environmental Quality Act (CEQA) Guidelines.
2. Review and approve the City’s revised Investment Policy.
3. Extend the delegation of investment authority to the Director of Finance, as City Treasurer, from March 1, 2024 through February
28. 2025.
Staff also recommends that the Redevelopment Successor Agency Governing Board:
1. Adopt a finding of no possibility of significant effect pursuant to Section 15061(b)(3) (Common Sense Exemption) of the
California Environmental Quality Act (CEQA) Guidelines.
2. Review and approve the City Investment Policy for
Redevelopment Successor Agency Investments.
3. Extend investment authority to the Treasurer of the
Redevelopment Successor Agency, from March 1, 2024 through February 28, 2025.
MINUTES 5.I. Approval of Minutes for Redevelopment Successor Agency Meeting, were presented.
Recommended Action
Staff recommends that the Redevelopment Successor Agency approve the minutes of the December 12, 2023 meeting.
Motion by Agency/Councilmember Torosis, seconded by
Agency/Councilmember de la Torre, to approve the Consent Calendar, reading resolutions by title only and waiving further reading thereof. The motion was approved by the following vote:
AYES: Agency/Councilmembers de la Torre, Torosis, Davis, Parra, Zwick, Chair/Mayor Pro Tem Negrete, Chair/Mayor Brock
NOES: None
ABSENT: None
ADJOURNMENT: On order of the Chair, the Redevelopment Successor Agency meeting was adjourned at 8:48 p.m.
December 13, 2024
3 ATTEST: APPROVED:
Nikima S. Newsome Phil Brock
Interim Agency Secretary Chair