CITY OF SANTA BARBARA FINANCE COMMITTEE

SPECIAL MEETING AGENDA DATE: November 17, 2020 Eric Friedman TIME: 12:00 P.M. Alejandra Gutierrez PLACE: David Gebhard Public Meeting Room Meagan Harmon 630 Garden Street Paul Casey Keith DeMartini City Administrator Finance Director

IN ORDER TO PROMOTE SOCIAL DISTANCING AND PRIORITIZE THE PUBLIC’S HEALTH AND WELL-BEING, THE GOVERNOR OF THE STATE OF CALIFORNIA ISSUED EXECUTIVE ORDER N-29-20, WHICH ALLOWS THE FINANCE COMMITTEE TO HOLD MEETINGS VIA TELECONFERENCES OR OTHER ELECTRONIC MEETING FORMAT WHILE STILL MEETING THE STATE’S OPEN AND PUBLIC MEETING REQUIREMENTS. AS A PUBLIC HEALTH AND SAFETY PRECAUTION, THE DAVID GEBHARD PUBLIC MEETING ROOM WILL NOT BE OPEN TO THE GENERAL PUBLIC. FINANCE COMMITTEE MEMBERS MAY PARTICIPATE ELECTRONICALLY. THE CITY OF SANTA BARBARA STRONGLY ENCOURAGES AND WELCOMES PUBLIC PARTICIPATION DURING THIS TIME. PUBLIC PARTICIPATION IS AVAILABLE THROUGH THE FOLLOWING OPTIONS:

ELECTRONIC PARTICIPATION: Registration URL: https ://attendee.gotowebinar.com/register/72833061 70637987342

Webinar ID: 829-314-571

To register, please use the Chrome, Firefox, or Safari browsers for the meeting. The Internet Explorer browser is not supported by the software.

After registering, you will receive a confirmation email containing information about joining the webinar. You will be connected to audio using your computer’s microphone and speakers (VoIP). A headset is recommended. You can also select the option to use your telephone, but you must use the GoToWebinar software to interact with the meeting. Select “Use Telephone” after joining the webinar in order to use your telephone.

Oral comments during a meeting may be made by electronic participation only.

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gotowebinar.

PUBLIC COMMENT: Members of the public wishing to speak must “raise their hand” in the GoToWebinar platform by selecting the virtual hand icon during the presentation of that item.

When persons are called on to speak, their microphone will be activated by City staff and the speaker will be notified that they can now unmute themselves in order to begin speaking. The speaker will then need to unmute themselves by selecting the ‘mute/unmute’ icon or pressing Ctrl+Alt+A on their keyboard.

For those who need accessibility accommodation in using the “raise hand” function and/or registering to participate in the GoToWebinar session, please contact the Finance Department by 5:00 p.m. the day before the meeting for assistance. Additionally, a speaker may email JNichoson@SantaBarbaraCA.Gov by 5:00 p.m. the day before a meeting, stating the item on which they wish to speak.

ITEM FOR CONSIDERATION:

1. Subject: Restatement Of Loan To Riviera Hotel, Inc., Secured By Property Located At 125 West Carrillo Street (Hotel de Riviera)

Recommendation: That Finance Committee consider and recommend that Council:

A. Approve a Restated Loan Agreement with Riviera Hotel, Inc. for the outstanding balance from a 1988 Loan Agreement funded with Redevelopment Agency Housing Set-aside Funds;

B. Approve an Amended Deed of Trust to secure the new Loan Agreement; Approve a new 90-year Affordability Control Covenant; and

D. Authorize the Community Development Director to execute, subject to approval as to form by the City Attorney, such agreements and related City documents as necessary.

2. Subject: Fiscal Year 2021 First Quarter Review Recommendation: That Finance Committee:

A. Hear A Report From Staff On The Status Of Revenues And Expenditures In Relation To The Budget For The Three Months Ended September 30, 2020;

B. Accept The Fiscal Year 2021 Interim Financial Statements For The Three Months Ended September 30, 2020; and

C. Approve The Proposed First Quarter Adjustments To Fiscal Year 2021 Appropriations And Estimated Revenues As Detailed In The Attached Schedule Of Proposed First Quarter Adjustments.

(See Council Agenda Item No. 9)