HomeMy WebLinkAbout92-86 - Ad Hoc Income Property CommitteeRESOLUTION NO. 92- 86
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT
BEACH ESTABLISHING THE AD HOC INCOME PROPERTY COMMITTEE.
•WHEREAS, the City owns and manages an extensive and valuable assortment
of revenue producing property the value of which is estimated at upwards of one
hundred million dollars and which income typically contributes ten percent of all City
revenues; and
WHEREAS, the City Council adopted Policy F -24 Revenue Producing Property
setting forth the guidelines and procedures for managing such property; and
WHEREAS, it is appropriate to create a City Council Committee to review the
status and monitor the management of income property,
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of
Newport Beach does hereby establish the City Council Ad Hoc Income Property
Committee to review all activities regarding revenue producing property.
BE IT FURTHER RESOLVED that the Committee shall have the following
responsibilities and characteristics:
1. The membership shall consist of two members of the City Council
appointed by the Mayor and the Mayor.
2. The term of the Committee shall continue in existence until further action
of the City Council.
3. The Committee will be staffed primarily by the Deputy City Manager,
augmented as requested by the Mayor.
4. The Committee shall meet as requested by the Mayor.
5. The responsibility of the Committee will be to review and direct the
activities of staff as outlined in City Council Policy F -24; to periodically review an
inventory and a status report of all City owned income property; and, to make
recommendations to the full City Council related to the management of income
property.
ADOPTED this
• ATTEST:
loth
date of August
MAYOR
-�
CITY CLERK
`�
1992.