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(1) Receive Final Report from the Assets Ad Hoc Subcommittee; and (2) Dissolve the Assets Ad Hoc Subcommittee
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Meeting Date: September 10, 2025
Contact Person/Dept: James Lambert /Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: []
Public Notification: (E-Mail) Meetings and Agendas – Finance Advisory Committee (09/04/2025)
Departmental Approval: Lisa Soghor, Chief Financial Officer (09/04/2025)
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RECOMMENDATION
Staff recommends that the Finance Advisory Committee (FAC): (1) receive the final report from the Assets Ad Hoc Subcommittee; and (2) dissolve the Assets Ad Hoc Subcommittee.
BACKGROUND/DISCUSSION
The Assets Ad Hoc Subcommittee was established to analyze real property assets for Culver City, including but not limited to opportunities to maximize revenues at parks.
The Assets Ad Hoc Subcommittee is currently comprised of Finance Advisory Committee Vice Chair Bauer and members Griffing, Lachoff, and Thakur.
At the July 9, 2025 meeting of the FAC, Assets Ad Hoc subcommittee members requested a meeting with staff to answer final questions regarding the City’s property holdings. On July 22, 2025, the Assets Ad Hoc Subcommittee met with Tevis Barnes, Housing & Human Services Director, who answered the members’ questions about certain Housing Authority properties. The Assets Ad Hoc Subcommittee has completed its review of the City’s properties and may thus be dissolved after providing a final report to the FAC.
ATTACHMENTS
None.
MOTION
That the FAC:
1. Receive a Final Report from the Assets Ad Hoc Subcommittee; and
2. Dissolve the Assets Ad Hoc Subcommittee