The Hercules City Council Finance Subcommittee and Citizens Finance Advisory Committee will hold a joint meeting Tuesday to discuss the state Controller's Office's recent review of asset transfers from the now-defunct Redevelopment Agency to the city.

The review ordered Hercules to transfer the assets -- chiefly the properties known as Sycamore Crossing, Parcel C and Victoria Crescent -- to the redevelopment successor agency. The city itself is the successor agency but the properties, which are at various stages of the selling process, would be put in a separate portfolio.

The joint panel also will discuss the status of the IRS audit of a 2007 Hercules Redevelopment Agency bond and a review of procedures by Contra Costa County. There will be a public comment open forum at the start of the meeting.

The meeting will be at 6:30 p.m. in the Hercules City Council chamber, 111 Civic Drive.

The subcommittee members are Councilmen John Delgado and William Wilkins. The citizens committee consists of Virgilio de la Vega, Gabriel Naguit, Bill Shea, Stanley Tom and chairman Hector Rubio.

Contact Tom Lochner at 510-262-2760. Follow him at twitter.com/tomlochner



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