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Statement regarding potential conflicts of interest

     Recently, a report in The Friday Flyer indicated that Director Jordan Ehrenkranz had concluded, based on advice of corporate counsel, that there were no conflicts of interest in his simultaneous service on both the POA Board and the City Council. That report was not accurate.
     Mr. Ehrenkranz and the rest of the Board recognize that there is a potential for conflicts of interest between the City and the POA. Accordingly, there are potential conflicts of interest Mr. Ehrenkranz will face in serving both entities simultaneously.
     Mr. Ehrenkranz has advised that he intends to recuse himself from and take no part in any POA Board decisions that present a potential conflict between the interests of the City and the interests of the POA.
     Further, the Board is prepared to form an Executive Committee of the Board, made up of directors other than Mr. Ehrenkranz, and formally delegate to that Executive Committee the full authority of the Board, pursuant to Corporations Code Section 7212, to address subjects that present potential conflicts, when and if that is appropriate.
     

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