REPORT:

Finance Committee

SYNOPSIS:

The Finance Committee met Friday, November 6, 1998 and discussed the issues detailed in the Committee report.

RECOMMENDED ACTION:

Receive and file.

Norma J. Glover, Chair
Finance Committee

Attendance: Present were Committee members Michael Antonovich, Norma Glover, and Leonard Paulitz. Absent was Committee member William Burke.

Discussion Item:

Progress Report on Marketing Plan for Diamond Bar Facility: Joe Contaoi, Director of Administrative and Human Resources, provided an update to the committee which focused on the recent choice of Grubb and Ellis to perform consultant services related to the marketing of space at Diamond Bar. These services include, in addition to marketing the space, the preparation of marketing materials, an analysis of the real estate market related to rental rates, and the parking options available to the AQMD to meet increased occupancy requirements.

Progress Report on Fee Structure and Equity Study: Victor Ell, with the firm of Thompson, Cobb, Bazilio & Associates provided a detailed presentation to the Committee regarding the preliminary results of their study. The consultants have concluded that the AQMD is not fully recovering its cost for processing permit applications and will be making recommendations in their final report regarding the various options available to the Board to bring cost and revenues in-line. The firm will be making this same presentation to the outside Fee Advisory Group which has been assisting the consultants and AQMD in this evaluation.

Other Business: None

Public Comment: None

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