To: Board of Supervisors
From: Treasurer/Tax Collector
Agenda Section: Consent
Vote Requirement: Majority
SUBJECT:
title
Appointment of Board of Directors - Humboldt County Public Property Leasing Corporation
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Reappoint the following individuals as Directors of the Humboldt County Public Property Leasing Corporation (HCPPLC) effective this date for the 2024 calendar year:
• Bruce Rupp, President
• Daniel Sweet, Treasurer
• Greg Bowen, Secretary
Body
SOURCE OF FUNDING:
N/A
DISCUSSION:
The HCPPLC is a non-profit public benefit corporation established in 1985 which holds title to county financed property and thereby keeps that property exempt from property taxes.
Initially established for the issuance of Certificates of Participation (COP) for construction of the Sheriff and District Attorney’s offices, and for the purchase of heavy equipment for the Department of Public Works, the HCPPLC then facilitated refinancing of those initial COPs, financed COPs issued in 1994,1996, 2003 and 2004. The HCPPLC refinanced the 2003 and 2004 COPs in July of 2012 along with financing new capital improvement projects including seismic retrofits for various county buildings, new airport hangers and a new Juvenile Hall facility. In June of 2016, the county and HCPPLC established an interim period financing mechanism through the county treasury pool which helped facilitate more cost-effective financing to help develop county campuses where like functions are grouped together for better public service. The 2016 Finance Plan was terminated in early 2020 and a new 2020 Interim Period Lease Finance Plan was approved by your Board on June 2, 2020.
The HCPPLC is necessary to support previously established financing commitments and to help facilitate future financing. The Treasurer-Tax Collector serves as staff liaison to the HCPPLC.
Bruce Rupp, Greg Bowen and Daniel Sweet have agreed to continue on the Board of Directors for the 2024 calendar year. These individuals were each asked to be members of the Board of Directors because of their pertinent backgrounds and experience in finance; both public and private. All three individuals bring a wealth of knowledge and have agreed to accept your appointment to the Board of Directors of the HCPPLC.
FINANCIAL IMPACT:
There is no financial impact as a result of appointing these three individuals to the Board of Directors of the HCPPLC.
STRATEGIC FRAMEWORK:
This action supports the following areas of your Board’s Strategic Framework.
Core Roles: Provide for and maintain infrastructure
New Initiatives: Facilitate the establishment of local revenue sources to address local needs
Strategic Plan: 4.2 - Create a community where county programs services and facilities are accessible to all with disabilities
OTHER AGENCY INVOLVEMENT:
None
ALTERNATIVES TO STAFF RECOMMENDATIONS:
Your Board may choose not to appoint these persons. However, this is not recommended as the HCPPLC is an integral component for county financing and these individuals bring depth of knowledge and competence as members of the HCPPLC Board.
ATTACHMENTS:
None
PREVIOUS ACTION/REFERRAL:
Board Order No.: Click or tap here to enter text.
Meeting of: 2/7/2023
File No.: 23-123