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LAFCO reviews 2012 goals and considers municipal banking study
Summary
LAFCO staff presented the commission’s 2012 goals; commissioners suggested LAFCO study municipal banking and related topics, noting Treasurer Jose Cisneros’ small grant programs to local credit unions and CDFIs and prior LAFCO work on garbage and transportation.
Interim Executive Officer Nancy Miller presented a short memo on Feb. 24 reminding commissioners that LAFCO has authority to conduct special studies of municipal services and options. She said the item was placed at the chair’s direction to remind the commission of that authority.
Commissioner John Avalos raised municipal banking as a possible subject for LAFCO research, suggesting the commission examine how a city or regional municipal bank might be structured and referencing Treasurer Jose Cisneros’ program to make grants to local credit unions and community development financial institutions of roughly $240,000–$250,000.
Commissioner Marr signaled support for studying municipal banking and other jurisdictions’ approaches. Chair Campos noted LAFCO’s ability to retain outside experts if specialized expertise is required. Public comment from Eric Brooks urged LAFCO to pursue municipal or regional banking and also linked broadband and smart-grid priorities to community-choice aggregation planning.
In the executive officer report Nancy Miller reminded commissioners that Form 700 statements are due April 1 and that the clerk will follow up with public members. The commission continued the item to the call of the chair for follow-up and scope development.
