AUGUST 3, 2004 M I N U T E S RANCHO PALOS VERDES REDEVELOPMENT AGENCY AUGUST 3, 2004 M I N U T E S RANCHO PALOS VERDES REDEVELOPMENT AGENCY

M I N U T E S

REGULAR MEETING

RANCHO PALOS VERDES REDEVELOPMENT AGENCY

AUGUST 3, 2004

The meeting was called to order at 10:59 P.M. by Chair Gardiner at Fred Hesse Community Park, 29301 Hawthorne Boulevard.

PRESENT: Clark, Long, Stern, Wolowicz, Chair Gardiner

ABSENT: None

Also present were Executive Director Les Evans; Assistant Executive Director Petru; Agency Attorney Carol Lynch; Director of Planning, Building and Code Enforcement Joel Rojas; Finance Director Dennis McLean; Agency Secretary Jo Purcell; and Recording Secretary Denise Bothe.

APPROVAL OF AGENDA:

Member Stern moved to approve the Agenda as submitted. Motion carried without objection.

APPROVAL OF CONSENT CALENDAR:

Member Stern moved, seconded by Member Long, to approve the Consent Calendar as follows:

June 2004 Treasurerís Report. (1900)

Received and filed.

FY 04-05 Redevelopment Agency Investment Policy. (1900)

Adopted the FY 04-05 Investment Policy for the Rancho Palos Verdes Redevelopment Agency.

The motion to approve the Consent Calendar carried on the following roll call vote:

AYES: Clark, Long, Stern, Wolowicz, Chair Gardiner

NOES: None

ABSENT: None

PUBLIC COMMENTS:

None.

At this time, Member Wolowicz moved, seconded by Member Long, to amend the language in the investment policy, page 5, as follows: "The Treasurer shall utilize LAIF or substantially comparable pooled funds to the greatest extent feasible and practical." There being no objection, Mayor Gardiner so ordered.

ADJOURNMENT:

The Redevelopment Agency meeting was adjourned at 11:01 P.M. on motion of Member Stern.

/s/ Peter C. Gardiner

Chair

Attest:

__/s/ Jo Purcell__

Agency Secretary