The Malibu City Council at its upcoming Monday night meeting will make an appointment to the Planning Commission and move forward with a proposed plan to finance the multimillion-dollar renovation of the new city hall.
Councilmember Pamela Conley Ulich will appoint Malibu resident Roohi Stack to replace Planning Commissioner Regan Schaar, who announced her resignation from the commission on Feb. 2.
Stack served as Councilmember Ulich’s 2008 campaign treasurer, and has been involved with community groups and organizations, including the Point Dume Marine Science School PTA and the Junior League of Los Angeles, among others.
In her application, Stack writes her “former professional experience at various financial institutions and software companies” makes her “more than eligible” to serve as a planning commissioner. The only company mentioned in the application is Oracle Treasury Services Inc.
“I believe that the role of the Malibu Planning Commission is to provide informed decisions on residential and commercial building projects that are good for Malibu environmentally, socially and economically,” Stack stated in her application. “Malibu is a unique and wonderful community. However, the changing demographics of our community also require the Planning Commission to ensure that all of the residents’ needs are met.”
Stack holds a bachelor’s degree in arts economics from UC Berkeley; an MBA from the University of Southern California; and a certificate in Middle Eastern languages and cultures from UCLA.
Discussion of financing for new city hall renovation continues
With the remodel plan of the new city hall estimated to cost $5 million, the council will continue discussion and possibly vote on whether to finance the project through the obtainment of certificates of participation not to exceed $7 million.
If approved by the city council, the certificates could be sold to investors as soon as the week of March 8 to take advantage of the currently favorable interest rates, a city staff report states. In that event, the financing would close toward the end of March.
Though the current remodel plan is estimated to cost $3.7 million, the city’s Administration and Finance Committee recommends that the council issue $5 million because the cost of the remodel could increase once the final plans for the theater are developed. The preliminary estimate includes the majority of the interior improvements in the conceptual designs and minimal exterior improvements. A final estimate is expected to be presented to council in March, which will include all interior costs as well as the costs for the renovations of the theater.
Out of concern that the city council “is not being given enough opportunity to provide input on the design of the new city hall,” Councilmember Ulich has suggested the formation of an ad hoc committee that will work with architects to develop cost-saving alternatives for the current renovation plan.
“At the end of the day, the city council is ultimately responsible for the success or failure, and the costs of the city hall,” Councilmember Ulich stated in a city staff report. “Staff does not report to the public. We do.”
The AFC in a city report claims that the process of obtaining the COPs at this time will be relatively uncomplicated because the city recently issued COPs to acquire the new city hall, known to many as the Malibu Performing Arts Center.
The success of the purchase gave the City of Malibu an AA+ bond rating-the highest possible rank-which it currently holds.