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8G Consent 2011 0502
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8G Consent 2011 0502
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Last modified
5/4/2011 4:34:56 PM
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4/29/2011 10:54:02 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
5/2/2011
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_CC Agenda 2011 0502
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0502
MO 2011-068
(Reference)
Path:
\City Clerk\City Council\Minute Orders\2011
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Additional Required Contributions for ACAP Wind -Down 3 <br /> 7) Evaluate all the various insurance programs and terminate the insurance plans when <br /> appropriate <br /> • <br /> • 8) Complete a number of finance related tasks which will facilitate the payment of ACAP's <br /> financial obligations and facilitate to the extent possible close -out requirements of all <br /> agencies that provided grants to ACAP <br /> 9) Prepare all grant close -out documentation <br /> 10) Determine services required after the close -out of ACAP <br /> Financial Impact <br /> Management Partners has estimated that the preliminary estimated cost to wind -down ACAP's <br /> affairs, which includes the payment of back wages to former employees, is approximately <br /> $1,280,000. The member agencies have requested that Management Partners also provide an <br /> estimate for costs that the member agencies might be required to bear related to potential <br /> liabilities that will not be known until after the close -out process. Management Partners has <br /> provided a rough estimate of $600,000 for such potential liabilities. These two components <br /> result in a total preliminary estimate of $1,880,000. It is possible that this amount may be <br /> reduced by the proceeds of the disposal of ACAP's assets and outstanding grant claims from <br /> ACAP, if such grant claims are paid by the grant funders. However, it is Mr. Arnbrose's best <br /> estimate at this time. <br /> The total estimated wind -down cost of $1,880,000 includes the previously paid contribution from <br /> the member agencies of $300,000. (Each of the cities made an initial cash contribution of <br /> $25,000, for a total of $300,000.) The ACAP Joint Powers Agreement provides that the debts, <br /> liabilities, and obligations of ACAP shall be the debts, liabilities, and obligations of the <br /> signatories to the agreement, to be shared equally. <br /> Alameda County has loaned ACAP $366,200.96 over the last few years, $50,000 of which was <br /> paid back to the County by ACAP. In addition, the County was credited with $25,000 as their <br /> participation in the initial round of partner payments as described above, leaving a balance owing <br /> to the County of $291,200.96. That balance will be further reduced by their continued <br /> participation in the close out of ACAP as one of the thirteen responsible member agencies. <br /> It will be necessary for all thirteen agencies that are members of ACAP to fund the remaining <br /> estimated close -out cost $1,580,000 (which is the amount over the initial $300,000 contributed). <br /> This contribution would be paid in two parts, as follows: <br /> • The first part, $75,385 would cover the $980,000 in remaining close -out costs, which has <br /> been invoiced and is due immediately. <br /> • 1 Each of the twelve member cities is being asked to make cash contributions; the amount owed Alameda <br /> County will be reduced by comparable amounts to the cities' cash contributions. <br />
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