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File Number: 12 -063 of assets, preparing the ROPS, providing staff support to the Oversight Board, and managing the payment of enforceable obligations. Nevertheless, it will be necessary to prepare an administrative budget twice annually for approval by the Oversight Board so that the Successor Agency can receive these funds from the County Auditor. The administrative budget will be comprised primarily of staff expenses, although some legal costs will also be incurred in the early years. Composition of the Oversight Board Each Successor Agency will have an Oversight Board comprised of seven members: 1. One member appointed by the County Board of Supervisors; 2. One member appointed by the Mayor; 3. One member appointed by the largest Special District by property tax share with territory within the territorial jurisdiction of the former redevelopment agency; 4. One member appointed by the elected County Supervisor of Education; 5. One member appointed by the Chancellor of the California Community Colleges; 6. One member of the public appointed by the County Board of Supervisors; and 7. One member representing the employees of the former redevelopment agency appointed by the mayor. The law requires the Oversight Board to report the name of its chairperson and other members to the Department of Finance by May 1, 2012. The Governor is entitled to name an appointee for any Oversight Board slot that has not been filled by May 15, 2012 or to any position that remains vacant in the future for more than 60 days. A majority of the total membership of the Oversight Board, or four slots, constitutes a quorum for the transaction of business, and a majority vote of the total membership, or four votes, is required for action. The Oversight Board will become operational once four members have been named. The terms of the appointees, and the life of the Oversight Board in general, will run through July 1, 2016. At that time, all Oversight Boards in Alameda County will be combined into one new countywide Oversight Board. By that time, the role of the Oversight Board will be considerably simpler because RDA properties will have been sold and any potential renegotiations of Enforceable Obligations will have been completed. Oversight Board Frequently Asked Questions Who is eligible to serve under the Mayor's two appointments? There are no restrictions on one of the Mayor's two appointments and this appointee need not be a resident of the community. The Mayor may appoint anyone, including himself, the Vice -Mayor or a City Councilmember. The second is intended to be a representative of the former employees of the Redevelopment Agency. The San Leandro Redevelopment Agency did not technically have any employees; rather, it contracted with the City to fund some costs associated with City employees. The State Department of Finance has informally indicated that any employee who provided staff services to the Redevelopment Agency is eligible for this slot. Does the Mayor need to take an official action to appoint an Oversight Board member? City of San Leandro Page 3 Printed on 211012012