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HomeMy WebLinkAbout15 - Economic Development Committee Restructure• CITY OF NEWPORT BEACH CITY COUNCIL STAFF REPORT Agenda Item No. 15 February 10, 2004 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Community & Economic Development, Planning Department George A. Berger, AICP, Program Manager 949/644 -3207. gaberger @city.newport- beach.ca.us SUBJECT: Recommendation from Economic Development Committee to restructure Committee positions, and to fill EDC vacancy. ISSUE: • Should the Economic Development Committee membership structure be revised to allow for a broader membership, reflective of current economic priorities and commercial area- or industry- positional needs? RECOMMENDATIONS: 1. Adopt a Resolution of the City Council of the City of Newport Beach amending Resolution 2001 -80, which revises the EDC membership structure; and 2. Fill current Committee vacancy by appointing Mr. Mike McNamara as the Public /Private Financing representative. DISCUSSION: Background: The City Council established the Economic Development Committee (EDC) by adopting Resolution No. 1993 -3. That resolution has been amended from time to time, most recently by the adoption of Resolution No. 2001 -80. The Resolution contains an exhibit – known as "Attachment B" —also amended from time to time —which describes the membership structure and purpose & responsibilities of the Committee (see attached, Exhibit 1). The membership of the Committee is made up primarily of representatives from local business organizations, representatives with special expertise in a EDC Report February 10, 2004 Page 2 commercial or industrial area or topic, and representatives from the city's commercial districts. Revision to EDC Membership: At their regular meeting of January 21St, 2004, the EDC discussed a number of revisions to the membership structure of this 28- member standing committee, which has not otherwise changed appreciably since the EDC was founded in 1993. EDC members and staff believe that a number of the committee's positions are too narrowly defined to allow for a broad membership pool, or are out -of -step with current needs. As a result, it is sometimes difficult to fill vacancies on the committee when they occur. The proposed revisions allow for wider committee representation while adjusting positions somewhat to reflect current commercial area or industry segment needs. The proposed revisions are as follows: • Community Marketing – replace with a "Medical Industry" position; • Strategic Organizational Management – change to an "At Large" position; • Member at Large (currently held by a representative of the Edison Co.) – create a specific "Utility" position, which could be held by any of the City's major utility providers; • Corona del Mar BID and CdM Chamber of Commerce – no need for 2 representatives from Corona del Mar; combine to have one position representing the commercial interests of Corona del Mar; • Newport Center /Fashion Island – split into two positions, one for the office component – "Newport Center Office" – and one for the retail component – "Fashion Island Retail." These revisions, if adopted in their entirety by the City Council, would keep the number of members at their current twenty -eight members. None of the existing members would, of necessity, be replaced; existing vacancies (with the exception of the currently - vacant CdM Chamber of Commerce position, which would be combined with the CdM BID position) will be filled as soon as possible by EDC recommendation to the Mayor and City Council. To accomplish this membership restructuring of the EDC, the aforementioned Attachment to City Council Resolution 2001 -80 must be amended by adopting a new Resolution and Attachment B (see attached, Exhibit 2). Recommendation to fill Vacancy: At their February 4th, 2004 meeting, the EDC Executive Committee recommended that the Public /Private Financing position— vacant since the resignation of Mr. David Blankenhorn —be filled by Mr. Mike McNamara. Mr. McNamara is an Investment banker 0 2 0 EDC Report February 10, 2004 Page 3 and Senior Vice President with O'Connor Southwest Securities of Newport Beach, where he specializes in underwriting municipal debt (see bio attached, Exhibit 3). Environmental Review: Not subject to CEQA, as the activity is not a project, as defined in Section 15378(b)(4). Submitted by: SHARON Z. W Assistant City Mfinager Prepared by: RG A. B RGER, Al P C &ED Program Manage Attachments: Exhibit 1 — Resolution No. 2001 -80 and Attachment "B" Exhibit 2 — Draft Resolution No. 2004- and Attachment "B" Exhibit 3 — Biography, Mike McNamara 3 EXHIBIT i RESOLUTION NO. 2001- 80 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AMENDING RESOLUTION NO. 98-17 TO CLARIFY THE PURPOSE & RESPONSIBILITIES OF THE ECONOMIC DEVELOPMENT COMMITTEE WHEREAS, the City Council established the Economic Development Committee by adopting Resolution No. 93 -3, which Resolution has been amended from time to time, most recently by the adoption of Resolution No. 98 -17; and WHEREAS, the City Council wishes to clarify the Purpose & Responsibilities of said Committee to be consistent with City Council policy; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Newport Beach amends Attachment B to Resolution 98 -17 to read as the exhibit attached to this Resolution. ADOPTED this 25th day of September, 2001. ATTEST: 0 ,%= ++ „wt • MAYOR 1+ • • • ATTACHMENT B ECONOMIC DEVELOPMENT COMMITTEE AUTHORIZATION: Established by Resolution No. 93 -3 adopted on January 25, 1993; amended by Resolution No. 95 -27 adopted on February 13, 1995; amended by Resolution No. 98 -17 adopted on February 23, 1998; and amended by Resolution No. 2001 -80 adopted on September 25, 2001. MEMBERSHIP: The Committee shall consist of the Mayor, two (2) members of the City Council, the Chair of the Environmental Quality Affairs Citizens Advisory Committee, and a Planning Commissioner, appointed by the Mayor. The Committee shall include the following who shall be nominated by the Committee and confirmed by the City Council: Local Organizations One (1) Representative from the Newport -Mesa Association of Realtors; One (1) Representative from the Newport Harbor Area Chamber of Commerce; One (1) Representative from the Building Industries Association who conducts business within the City; One (1) Representative from the Corona del Mar Chamber of Commerce; One (1) Representative from the Newport Beach Conference and Visitors Bureau. 5 Areas of Special Expertise • One (1) individual with special knowledge in community based marketing; One (1) individual with special knowledge in strategic planning; One (1) individual with special knowledge in financing public /private business ventures including capital and operational activities; One (1) individual with special knowledge in the restaurant industry; One (1) individual with special knowledge in the boating and harbor industry; Three (3) Members At- Large. City Business Districts - A member of the Advisory Board of Business Improvement Districts, the Board of Directors of an Association, or a member of other organization representing the following areas: Airport Area Balboa Island Cannery Central Balboa Corona del Mar Newport Center /Fashion Island Newport Pier Area Mariners Mile Old Newport Boulevard Area Lido District The mayor shall name the Chairman of the Committee from the list of approved members. The Chairman shall then organize the Committee into appropriate sub - committees as necessary to accomplish the assigned functions and duties. • �O . All members shall serve at the pleasure of the City Council. The committee shall be staffed primarily by the Assistant City Manager /Economic Development Coordinator with assignment of additional full time and part time support from other departments as necessary. PURPOSE & RESPONSIBILITIES: A. Review, monitor and assist the activities of staff as outlined in the City Council Economic Development Policy; B. Make recommendations regarding appointment of appropriate staffing levels for Economic Development activities; and C. Make recommendations to the City Council to further the goals of the City's Economic Development Policy. TERMINATION: The Committee shall continue in existence until further action of the City Council. 7 STATE OF CALIFORNIA } COUNTY OF ORANGE CITY OF NEWPORT BEACH } I, LAVONNE M. HARKLESS, City Clerk of the City of Newport Beach, California, do hereby certify that the whole number of members of the City Council is seven; that the foregoing resolution, being Resolution No. 2001 -80 was duly and regularly introduced before and adopted by the City Council of said City at a regular meeting of said Council, duly and regularly held on the 25th day of September, 2001, and that the same was so passed and adopted by the following vote, to wit: Ayes: Heffernan, O'Neil, Ridgeway, Glover, Bromberg, Proctor, Mayor Adams Noes: None Absent: None Abstain: None IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of said City this 26th day of September, 2001. (Seal) �1.Al&n City Clerk Newport Beach, California 0 • • Exhibit 2 RESOLUTION NO. 2004- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AMENDING RESOLUTION NO. 2001 -80 TO REVISE THE MEMBERSHIP STRUCTURE OF THE ECONOMIC DEVELOPMENT COMMITTEE. WHEREAS, the City Council established the Economic Development Committee by adopting Resolution No. 93 -3, which Resolution has been amended from time to time, most recently by the adoption of Resolution No. 01 -80; and WHEREAS, the City Council wishes to revise the membership structure of said Committee; NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Newport Beach amends Attachment B to Resolution 2001 -80 to read as the exhibit attached to this Resolution. . ADOPTED this day of February, 2004. ATTEST: CITY CLERK 11 MAYOR 0 • ATTACHMENT B ECONOMIC DEVELOPMENT COMMITTEE AUTHORIZATION: Established by Resolution No. 93 -3 adopted on January 25, 1993; amended by Resolution No. 95 -27 adopted on February 13, 1995; amended by Resolution No. 98 -17 adopted on February 23, 1998; and amended by Resolution No. 01 -80 adopted on September 25, 2001; and amended by Resolution 04- adopted on February 2004. MEMBERSHIP: The Committee shall consist of the Mayor, two (2) members of the City Council, the Chair of the Environmental Quality Affairs Citizens Advisory Committee, and a Planning Commissioner, appointed by the Mayor. The Committee shall include the following who shall be nominated by the Committee and confirmed by the City Council: 0 Local Organizations One (1) Representative from the Newport-Mesa Association of Realtors; One (1) Representative from the Newport HarbeFAFea Beach Chamber of Commerce; One (1) Representative from the Building Industries Association who conducts business within the City; One (1) Representative from the Newport Beach Conference and Visitors Bureau. Areas of Special Expertise 1] E, One (1) individual with special knowledge in strategic planning; One (1) individual with special knowledge in financing public/private business ventures including capital and operational activities; One (1) individual with special knowledge in the restaurant industry; One (1) individual with special knowledge in the boating and harbor industry; One (1) individual with special knowledge in the provision of public utilities; Three (3) Members At- Large. City Business Districts - A member of the Advisory Board of Business Improvement Districts, the Board of Directors of an Association, or a member of other organization representing the following areas: . Airport Area Balboa Island Cannery Central Balboa Corona del Mar Newport Center Fashion Island Newport Pier Area Mariners Mile Old Newport Boulevard Area Lido District The mayor shall name the Chairman of the Committee from the list of approved members. The Chairman shall then organize the Committee into appropriate sub - committees as necessary to accomplish the assigned functions and duties. All members shall serve at the pleasure of the City Council. The committee shall be staffed primarily by the Assistant • City Manager /Economic Development coordinator with assignment of additional full time and part time support from other departments as necessary. PURPOSE & RESPONSIBILITIES: A. Review, monitor and assist the activities of staff as outlined in the City Council Economic Development Policy; B. Make recommendations regarding appointment of appropriate staffing levels for Economic Development activities; and C. Make recommendations to the City Council to further the goals of the City's Economic Development Policy. TERMINATION: The Committee shall continue in existence until further action of the City Council. • 0 12 Exhibit 3 MICHAEL MCNAMARA Senior Vice President Public Finance O'Connor Southwest Securities Newport Beach, California Michael McNamara is an investment banker with O'Connor Southwest Securities, Newport Beach, California where he specializes in underwriting municipal debt. He has assisted over one hundred cities, counties, school districts, water districts, utility districts and special districts in developing long range financial plans and issuing debt to finance major capital projects. Mr. McNamara has acted as financial advisor in the issuance and sale of over fifty financings with a par amount of over $1 billion. He has over eighteen years as a municipal financial consultant and five years as a Finance Director and Treasurer in two Cities and has made numerous presentations before city councils, boards, committees and commissions. He was a principal in the financial advisory firm of Fieldman Rolapp & Associates in Irvine, California. Mr. McNamara was also responsible for the western region consulting practice of MuniFinancial, a large municipal finance firm that specializes in municipal debt administration, arbitrage rebate, disclosure and the formation of various types of financing districts. His most recent work is as an investment banker with O'Connor Southwest Securities in Newport Beach, CA. His experience in financing projects includes debt issues such as general obligation bonds, revenue bonds, certificates of participation, assessment district bonds, Community Facilities District bonds (Mello Roos), tax allocation bonds, industrial development bonds, Marks Roos Bond Pooling Bonds, multifamily revenue bonds, notes and the refunding of various types of bonds. He was previously a Manager at the big eight accounting firm of Deloitte Haskins & Sells (now Deloitte Touche) responsible for public sector financial consulting. He taught at the University of California Irvine Graduate School of Management where he specialized in and taught public /private interaction and focused on public policy and financing issues. He served as a member of the League of California Cities Revenue and Taxation Committee that addressed various types of California financial issues. Mr. McNamara has a MBA from Pepperdine University, a B.S. from Eastern Michigan University, and holds series 7 and series 63 NASD licenses. 0 1 1.1) i RESOLUTION NO. 2004- 14 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AMENDING RESOLUTION NO. 2001 -80 TO REVISE THE MEMBERSHIP STRUCTURE OF THE ECONOMIC DEVELOPMENT COMMITTEE. WHEREAS, the City Council established the Economic Development Committee by adopting Resolution No. 93 -3, which Resolution has been amended from time to time, most recently by the adoption of Resolution No. 2001 -80; and WHEREAS, the City Council wishes to revise the membership structure of said Committee; NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Newport Beach amends Attachment B to Resolution 2001 -80 to read as the exhibit attached to this Resolution. ADOPTED this 10chday of February, 2004. ATTEST: CITY CLERK MAYOR Exhibit ECONOMIC DEVELOPMENT COMMITTEE AUTHORIZATION: Established by Resolution No. 93 -3 adopted on January 25, 1993; amended by Resolution No. 95 -27 adopted on February 13, 1995; amended by Resolution No. 98 -17 adopted on February 23, 1998; amended by Resolution No. 2001 -80 adopted on September 25, 2001; and amended by Resolution 2004- 14 adopted on February 10, 2004. MEMBERSHIP: The Committee shall consist of the Mayor, two (2) members of the City Council, the Chair of the Environmental Quality Affairs Citizens Advisory Committee, and a Planning Commissioner, appointed by the Mayor. The Committee shall include the following who shall be nominated by the Committee and confirmed by the City Council: Local Organizations One (1) Representative from the Newport-Mesa Association of Realtors; One (1) Representative from the Newport Beach Chamber of Commerce; One (1) Representative from the Building Industries Association who conducts business within the City; One (1) Representative from the Newport Beach Conference and Visitors Bureau. Areas of Special Expertise One (1) individual with special knowledge in strategic planning; One (1) individual with special knowledge in financing public /private business ventures including capital and operational activities; One (1) individual with special knowledge in the restaurant industry; One (1) individual with special knowledge in the boating and harbor industry; One (1) individual with special knowledge in the provision of public utilities; Three (3) Members At- Large. City Business Districts - A member of the Advisory Board of Business Improvement Districts, the Board of Directors of an Association, or a member of other organization representing the following areas: Airport Area Balboa Island Cannery Central Balboa Corona del Mar Newport Center Fashion Island Newport Pier Area Mariners Mile Old Newport Boulevard Area Lido District The mayor shall name the Chairman of the Committee from the list of approved members. The Chairman shall then organize the Committee into appropriate sub - committees as necessary to accomplish the assigned functions and duties. All members shall serve at the pleasure of the City Council. The committee shall be staffed primarily by the Assistant City Manager /Economic Development coordinator with assignment of additional full time and part time support from other departments as necessary. PURPOSE & RESPONSIBILITIES: A. Review, monitor and assist the activities of staff as outlined in the City Council Economic Development Policy; B. Make recommendations regarding appointment of appropriate staffing levels for Economic Development activities; and C. Make recommendations to the City Council to further the goals of the City's Economic Development Policy. TERMINATION: The Committee shall continue in existence until further action of the City Council. STATE OF CALIFORNIA COUNTY OF ORANGE CITY OF NEWPORT BEACH I, LaVonne Al. Harkless, City Clerk of the City of Newport Beach, California. do hereby certify that the whole number of members of the City Council is seven: that the foregoing resolution, being Resolution No. 2004 -14 was duly and regularly introduced before and adopted by the City Council of said City at a regular meeting of said Council, duly and regularly held on the 10th day of February, 2004, and that the same was so passed and adopted by the following vote, to wit: Ayes: Heffernan, Rosansky, Adams, Bromberg, Webb, Nichols, Mayor Ridgeway Noes: None Absent: None Abstain: None IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of said City this 11th day of February, 2004. (Seal) City Clerk Newport Beach, California