To: Board of Supervisors of Sonoma County and Board of Commissioners of the Community Development Commission
Department or Agency Name(s): Sonoma County Community Development Commission
Staff Name and Phone Number: Martha Cheever, 565-7521
Vote Requirement: Majority
Supervisorial District(s): Countywide
Title:
Title
Designation of Signatories for the Conduct of Banking Business
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Recommended Action:
Recommended action
Adopt a resolution of the Sonoma County Community Development Commission to change designated signatories for the conduct of the Commission’s banking business.
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Executive Summary:
Approval of this item will authorize the Commission to change designated signatories on the Commission’s Exchange Bank and West America Bank accounts. This will allow the Commission to continue to conduct banking business to pay Housing Authority client rental subsidies and operational expenses of Village Green II, the Commission’s 34-unit affordable housing complex for seniors.
Discussion:
Since its inception in 1984, the Sonoma County Community Development Commission (and Housing Authority) has utilized the services of local banking institutions for the receipt and distribution of grant and subsidy funds from the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture. The Commission currently has banking accounts with Exchange Bank and West America Bank used primarily to pay monthly rental subsidies for Housing Authority clients and operational expenses of Village Green II. Other Commission funds are held with the County’s Auditor-Controller-Treasurer-Tax Collector.
Two signatures are required for all banking transactions. Due to management changes, it is necessary to designate new staff to sign checks and bank documents, make deposits, and conduct the Commission’s banking business. The attached resolution designates David Kiff, Interim Executive Director; Tina Rivera, Interim Director-Health Services, and Martha Cheever, Housing Authority Manager as the three authorized signatories for the conduct of the Commission’s banking business at Exchange Bank, and designates David Kiff, Interim Executive Director; Tina Rivera, Interim Director-Health Services, and Martha Cheever, Housing Authority Manager as the three authorized signatories for the conduct of the Commission’s banking business at West America Bank, effective July 20, 2021. Exchange Bank and West America Bank require a resolution from the Commission in order to authorize signatories. The resolution also designates David Kiff, Interim Executive Director; Tina Rivera, Interim Director-Health Services, and Martha Cheever, Housing Authority Manager as the three authorized signatories for conduct of the Commission’s banking business at the Bank of NY Mellon, which contains the funds for the Non-Housing Successor Agency.
Prior Board Actions:
On 06/09/2020, Agenda Item #9: Commission Resolution No. 20-0207 designating Commission staff to sign checks and documents, make deposits, and conduct the Commission’s business.
On 12/10/2019, Agenda Item #3: Commission Resolution No. 18-0265 designating Commission staff to sign checks and documents, make deposits, and conduct the Commission’s business.
On 07/10/2018, Agenda Item #9: Commission Resolution No. 18-0265 designating Commission staff to sign checks and documents, make deposits, and conduct the Commission’s business.
Fiscal Summary
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FY 20-21 Adopted |
FY 21-22 Projected |
FY 22-23 Projected |
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Narrative Explanation of Fiscal Impacts:
There are no fiscal impacts associated with this item.
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Staffing Impacts: |
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Position Title (Payroll Classification) |
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Narrative Explanation of Staffing Impacts (If Required):
N/A
Attachments:
Attachment 1 - Resolution
Related Items “On File” with the Clerk of the Board:
None