HomeMy WebLinkAboutMINUTES - 09272005 - C29 �� -
TO: BOARD OF SUPERVISORS Contra
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COMMI EEFROM: INTERNAL OPERATIONS
DATE: SEPTEMBER 19, 2005 Count
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SUBJECT: APPOINTMENTS TO THE AFFORDABLE HOUSING FINANCE COMMITTEE
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
1 RE-APPOINT the following individuals (addresses on file)to the Affordable Housing
Finance Committee:
Name Seat Term Expiration
Dan Bundy Community#1 June 30, 2008 -
Irene Alonzo Perez County#1 June 30, 2008-
2. APPOINT the following individual to the Community#2 seat to complete the
unexpired term ending June 30, 2006 and to a new term ending June 30, 2009:
Thomas Tolda
54 Sanders Ranch Road
Moraga, CA 94556
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMEND I NOF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
e,41GAYLE I MARK D SAULNIER t. U I LKEMA, Chair
hW114h APPROVE AS RECOMMENDED ER
ft a 0
ACTION OF BOARD ON I I L#foof —o- Sgo=
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
Al UNANIMOUS(ABSENT AND ENTERED ON THE MINUTES OF THE
BOARD OF SUPERVISORS ON THE DATE
AYES: NOES: SHOWN.
ABSENT: ABSTAIN: ATTESTED: SEPTEMBER 27,2005
CONTACT: JULIE ENEA (925)335-1077 JOHN SWEETEN,CLERK OF THE BOARD OF SUPERVISORS
AND COUNTY ADMINISTRATOR
CC: INTERNAL OPERATIONS COMMITTEE STAFF
KARA DOUGLAS,STAFF,AHFC
CLERK OF THE BOARD(MADDY BOOK) BY CjLj DEPUTY
Affordable Housing Finance Committee Appointments September 19, 2005
Internal Operations Committee Page 2
BACKGROUND:
The Affordable Housing Finance Committee was established in June 1995 and is
responsible for working with the Community Development Department to develop
recommendations of Supervisors concerning the allocation of project funds among eligible
affordable housing investment programs and projects. The Affordable Housing Finance
Committee replaced both the HOME Technical Review Committee and the Housing and
Community Development Advisory Committee. The Committee has nine members,
including six members of the HOME Technical Review Committee. The Internal Operations
Committee reviews nominations for appointment to the three County and three Community
seats.
The Internal Operations Committee, at its September 19, 2005 meeting, reviewed and
approved the preceding nominations.
CONTRA COSTA COUNTY
COMMUNITY DEVELOPMENT - CDBG Housing
253OArnold Drive
Martinez, CA 94553
Telephone: 925.335.7200 Fax: 925.335.7201
DATE: September 19,2005
TO: Internal Operations Committee
FROM: Kara Douglas,Affordable Housing Program Manager
SUBJECT: Recommended Appointments to the Affordable Housing Finance Committee
The purpose of this memorandum is to forward the following recommendations from the Affordable Housing
Finance Committee(AHFC):
• Re-appoint Dan Bundy as a Com-nunity Representative on the AHFC for a term ending on June 30,2008.
• Re-appoint Irene Alonzo Perez as a County Representative on the AHFC for a term ending on June 30,
2008.
• Appoint Tom Tolda to the vacant Community Representative seat on the AHFC for the term ending on
June 30,2006;and extend the appointment through the following term ending June 30,2009.
Background
The Affordable Housing Finance Committee advises the Board of Supervisors on the annual allocation of
approximately$4.5 million in HOME Investment Partnership Act (HOME) and Community Development Block
Grant(CDBG) fiends for affordable housing development in Contra Costa.County.These funds are allocated to the
County on an annual basis by formula through the U.S.Department of Housing and Urban Development
The Committee consists of nine members,including-.
• three city representatives (one each from East,Central and West County)
• three county representatives;and
• three community representatives.
The three city representatives are nominated by the cities in each subregion of the County and approved by the
Board of Supervisors. Nominations for county and community representatives are solicited by the Conimunity
Development Departyn.ent All county and community representative appointments to the AHFC are reviewed by
the Internal Operations Committee (10C) and referred to the Board of Supervisors for approval.AHFC teens are
for three pears.A current AHFC roster is attached for your information(Attachment A).
Current Status of Appointments
There are three vacancies on the AHFC due to term expirations as of June 30,2005:
• Community Representative
• County Representative
• City Representative(East County cities)
In December, the Community Development Department (CDD) initiated a process to recruit applicants to fill
existing vacant seats. A press release was distributed to major news media. in the County and posted on County
bulletin boards.The Department received 17 applications and invited all applicants to be interviewed. On February
3 and 10, a sub-committee interviewed ten applicants. The sub-committee assessed each applicant based on the
following criteri*a:
0 Familiar:itywith and understanding the range of affordable housing issues in Contra Costa County
0 Specific experience or knowledge relevant to affordable housing development
9 The potential to expand the AHFC's experience and capacity to evaluate applications and develop
.S.A.
recommendations for the allocation of the County's affordable housing resources
0 Potential for conflicts of interest
0 Diversity with respect to ethnic background,gender,and geographic representation
IF
The subcommittee made recommendations for appointments to seats vacant at that time. In addition, the
committee recommended Tom Tolda. be considered for the next available vacancy. Both Mr. Bundy and Ms
Alonzo-Perez have been active and knowledgeable memberson the committee.
The East County cities seat is vacant Staff has contacted the cities as well as the Supervisors'offices for that region
to inform them of the vacancy and seek recommendations.No names have been submitted
cc without attachments: AHFC
Dennis Barry,Conununity Development Director
Jim Kennedy.,Deputy Director—Redevelopment
Dan Bundy
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ftformalion:
1. File completed application with Clerk of the Board.,651 Pine Street,Room 106,Martinez,CA 94553.
2. Members of some advisory bodies may be required to file annual Conflict of Interest Statements.
3. Address and other contact information provident on this application will be accessible to the general public.
4. Meetings of advisory bodies may be held in Martinez or in areas not accessible by public transportation.
5. Meetings may be held either in the evenings or during the day,usually once or twice a month.
6. Some boards assign members to subcommittees or work groups requiring additional time.
7. If you wish you may attach your resume.
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Information.
1. File completed application with Clerk of the Board. 651 Pine Street, Room 1 06,Martinez, CA 94553.
2. Members of some advisory bodies may be required to file annual Conflict of Interest Statements.
3. Address and other contact information provided on this application will.be accessible to the general public.
4. Meetings of advisory bodies may be held in Martinez or in areas not accessible by public transportation.
5. Meetings may be held either in the evenings or during the day,usually once or twice a month.
6. Some boards assign members to subcommittees or work groups requiring additional time,
7. If you wish you may attach your resum6.
acl/tps"A C47TC9"9'* C7A T IcA73G IN9W801qn9a 003 02:FT G00E-t7T-d3S
54 Sanders Ranch Road Home 925-377-9627
Moraga,California 94556 Office 415,222-4688
Fax 925-388-4020
E-mail tiolda@aol.com
'Thomas Told�
Summary of Results oriented, high-energy financial executive and business partner with diverse
qualleman%.MM'D I 1 5, U.S. and international management experience,capable of leading a large
business for rapid achievement of financial objectives.Areas of impact include
strategic planning, cost optimization, business analytics,treasury management,
accounting and control, MIS development, performance metrics, and real estate
management. Effective communicator at all levels.
Work � 1999-Current Wells Fargo&Co. San Francisco,CA
experience Chief Fet O mer OW�edlt C�r+oup
Consumer Credit Group was firmed in 1999 fbilovAng the merger of Wells Fargo and
Norwest Bank,Over the last live years this business has become the largest home equity
loan originator in the U.S.. In 2004 it originated$40 billion in loans and grew its' po, lio
of first and second mortgages to $70 billion, earning near $2 billion in revenue. The
business operates through multiple distribution channels (retail bank branches, i met,
direct mail, phone, brokers, coffespondents, and joint ventures) serving 2 million
customers. The group also originates and manages a $6 billion portfolio of personal
installment loans primarily secured by auto.
Initial responsibilities included:
- Recruiting,training and organizing the Finance & Faalifies team now comprised of
85 people,with an additional 60 people reporting to me on a matrix basis.
- Establishing financial processes, systems, business MIS, reporting and modeling
i structure,Projects included data definifion, risk basedPncing model
development, advising on prepayment, line ufflization, and asset valuation modeling,
defining sales metrics and goals, and understanding unit costing and default
characteristics of portfolio.
- Restructured and merged a marginal home improvement lending business with$200
migion in assets and 120 people to gain efficiencies and redeploy resources for
higher growth businesses.
Identify, acquire, and equip buildings to facilitate rapid growth of home equity
business. Currently managing just over 1 million square feet of ftcififies located in 14
cites with over 200,000 sf in development
Current responsibilities include:
- Provide the group with financial leadership fbr achieving continued business growth
and g---.&-- profitability by identifying new business opport�mides and e�ectively
minimmng business risks.
-
Partner with Risk Management in developing a capital markets strategy. Member of
Home&Consumer Finance Group(H&CFG)Capital Markets Council.
- Manage all product pricing balancing the reed for market share and acceptable
levels of return within a well defined pricing shategy.Chair H&CFG Pricing Council.
- Develop group's corporafie and financial plans/forecasts, a000unting practices while
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. supporting the group with fimely management inibrmation and analytics. Expert
knowledge of FAS 91,good knowiedge of FAS 133 and 144.
- Provide balance sheet and interest rate risk management oversight
-
FuMH on Sarbanes Oxley reporting and control requirements.
1996-1998 Cifigroup Chkaoor IL.
Chief Financial Offtcer/VP-CMbank Federal Barings bank
• Citibank FSB was one of the largest savings banks in the U.S.at the time with S18 billion
in assets, $1.8 biRion in capital, and operated through 200 branches in 10 states.
Reporting to the Chairman/CEO I was routinely involved in support of most management
aspects of this subsidiary. Managed a Finance beam of 90 staff boated throughout the
multiple stales we operated in.
- Co-lead company's backwoffice and branch restructuring efforts achieving
$35 million cost reduction.
Managed pace of new capital investment($30 million)and spending to
ensue steady,quarter-overquarter earnings improvement
- Key parficipant in treasury Asset/Liability management committee responsible for
interest rate risk management,balance sheet optimi2ardon, and pricing policies,
- Designed and c,�oord'mabed implementation of financial database waehouse.
- Provided full financial support to CEO,Board of DirectDrs,and regional
bank presidents involving financial reporting,value.-add analyses,
accounting&control, interface with regulators and auditors,modeling
of earnings dynamics and performance metrics.
- Under leadership of CEO,assisted in 1997 earnings turnaround of$115 miNion.
-
Member of Citibank FSB Board of Directors and Executive Committee.
1895-1996 citiwoup San Francisco,CA
Regional Finance Offteer/VV-Citibank FSB,Calrnia
Shared eamings aocvuntability for Cifibank's 90 branch distribution system in California
and Nevada. Provided full range of financial support to market president and line
managers including formulation of annual budget, quarterty forecasts, monthly
accounting dose, preparation and presentation of financials to senior executive
management of Citicorp.
- Developed criteria for balanced business soorecard and performance measurement
MIS contributing tD 15°!o growth in region's earnings.
- Drove strart�egic cost management efforts to lower cost of facilities, finance and
operations by$3 million to fund greater maiiceang and sales spend.
- Restructured Finance department to align finance goals and staffing in line with
business'major operating divisions.
-
Partnered with line management to establish tamer ma of pricing for aggressive
customer acquisition and desired p—fiWuRy resulting in launch of new money
market account which captured$800 million in deposits.
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190 I9W&C� ftma;p Citigroup Ric de Janeiro,Brazil
Financial Controller&To rerlVP—Citibank Bra=JI
• A
Managed all finanaal activities including a=__o_ur* P 0 Png, U01, reporfing, budgeting and
treasury risk management in this compkm rapidly growing, highlyprofitable retail bank
and credit card franchise.Managed staff of 20 people.
S liy steered financial decision-making through hyper-inflationary and
unpredi bie regulatory environment made use of numerous earnings sensitivity
models and convinced management to launch consumer-lending product that
strategically aftered the business and brought better balance and diversify to
earnings stwm-
Directly accountable for treasury risk management balance sheet positioning, and
treasury Lmuzsury P
Implemented effective internal benchmarldng ti antsm to identify best practices
among the branches,faalsur-rxtransFers,and improve operational efficiency.
Member of Citibank's country risk management policy commbee.
1986—1990 Citigroup Naples,Maly
Assistant Fioaec"ralCorM�+o11aNAVP—Citibank Italia S.p.A.
Reporting to the CFO, was responsible for helping architect and implement a Citicorp
_L
standard, finance department in what had been a newly acquired 80 branch bank
Located throughout Italy, Managed staff of 22.
Acceleratedfinancial close processe-
from onmo lag to five business days by
changing accounting cut-off dates, greater automaton, accrual accounting, and
disciplined financial close calendar.
Developed reporting systiem that converted Itarian gaap books to U.S.gaap.
Heavily involved in post-acquisttion accounting, tax, business evaluation, and MIS
development,
Designed and implemented a streamlined accounts payable, requisition, inventory
management system resulting in greater control of assets at less cost
Recruited,trained,and managed local team of finance professionals.
1984—1986 Crtigroup New York,NY
Various Senior Financial and Operans Analyst positions of increasing responsibility in
global commercial and U.S.consumer bank areas.
Worked on merger and acquisition analyses.
Coordinated approval and axounted for cal:Aal injections and-dividend remittances
from overseas subsidiaries.
Evaluated major capital investment proposals for financial paybacks,compliance with
regulatory guidelines and accounting methodologies.
Traveled extensively overseas as part of management trainee program
1=01-NMI ;�
Master Business Administration, Fordham Graduate School of Business,
September, 1983 New York, NY.
• Bachelor of Science, New York University, 1978, New York, NY
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Attachment C
AFFORDABLE HOUSING FINANCE COMMITTEE
Interview Questions—Febnmry 3,2005
APPLICANT: Tom Tolds
1. PIease describe the nature of your interest in affordable housing issues and
development in Contra Costa County.
I am interested in applying zny skills and knowledge in home financing and
administration to those in need of affordable Whousing so that they too can benefit
from a safe environment in which to rase a fia"AAAY or sustain themselves.
Affordable housing has the potential to provide individuals and families with the
right conditions to improve thein economic situation leading to improvement in
education, life style and sense of being.
Given my working experience at the nation's largest mortgage provider(Wells
Fargo),I hope to leverage my contacts and knowledge of the industry to help as
many in my community that I can.
2. The primary function of the ABIFC is to develop recommendations for the hoard
of Supervisors for the allocation of CDBG and SOME funds for the development
of affordable housing. Funds are allocated to eligible projects through a
competitive application process.
a. In what ways do you feel you can contribute to the Committee's role in
evaluating aff-ordable housing applications?
As a CFO for'Wells Fargo's Home Equity business,I am often called
upon to evaluate large,alternative inveents among our businesses.
Allocating funds to eligible projects is quite similar in that in each case
there are limited funds to be invested and,therefore,one is looking for the
best retain on such investment.In housing this could equate to providing
the most shelter as possible for those in need,providing investment in
communities to stabilize what could be deteriorating housing,providing
incentives to private industry to help share the weight of provid"ng
affordable housing and the Like. I feel my analytical capabilities could
strengthen the team.
b. Do you have experience in areas directly or indirectly relevant to
affordable housing issues and development?
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While I do not have much experience in this area, I am familiar with such
programs as Habitat For Humanity where I organized a team of colleagues
to help build affordable housing in Oakley, The experience was very
rewarding to me.
I am also familiar with the need for large mortgage lenders to provide
mortgages to lower income communities under the COMMUMty
reinvestment act. To the extent I can help to facilitate this in any way,I
would like to do that.
ce What do you feel are the most important criteria in evaluating applications
for affordable housing resources'.)
M Evaluating the true extent of individual or family need;
"P Determining the recipient's ability to pay and take care of the
properly;
so Assessing if the affordable housing available offers a workable
solution for those in need.
I Are there any areas in-which you feel you might have a potential conflict of
interest in developing funding recommendations for the Board?
None at all.
4. Are there any other comments you would like to make concerning your
qualifications for the A,HFC?
I feel I can bring the committee additional insigkit and analytical capability to
improve decision making. I bring enthusiasm,passion,ability to partner and a
@ 0 %
Strung work ethic inan effort to be part of successful teams.
2
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