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A
Pa?ue?ment
enla
CH'Y COUNCIL CIIAMBER
78495 CalIe Tampico
La Quinta. Calirornia 92253
Regular Meeting
April 5. 1994 3:00 P.M.
CALL TO ORDER Beginning Res. No. RA 944
a. Roll Call
CONFIFIRMAilON OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes ot March L5, 1994.
PUBLIC COMMENT
BUSINESS SESSION
TRANSMITTAL OF TREASURER'S REPORT.
A) MINUTE ORDER ACTION
CONSENT CALENDAR
1. APPROVAL OF DEMAND REGISTER DATED APRIL 5.1994.
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ing -> 10'T% 2. ADOPTION OF RESOLUTION APPROVING FUNDING FOR THE INTERIM IMPROVEMENT OF
RESIDENTIAL STREETS IN WESTWARD MO/INDIAN SPRINGS NEIGHBORHOODS.
3. ACCEPTANCE OF PARK AVENUE WIDENING IMPROVEMENTS PROJECT 92-15.
4. ADOPTION OF RESOLUTION APPROVING A SETTLEMENT AGREEMENT WITH
MARSIIALLTOWN. IOWA.
DEPARTMENT REPORTS
a TRANSMITTAL OF STATEMENT OF FINANCIAL POSITION FEBRUARY 28, 1994.
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC hEARINGS
CLOSED SESSION
I Conference with Real Property Negotiator southwest corner of Highway 111 and Jefferson Street
Midland Properties Negotiations for proposal for commercial development including price. term of
payment pursuant to Government Code Section 54956.8
ADJOURNMENT
DECLARATION OF POSTING
I, SAUNDRA L. JUHOLA. Secretary of the La Quinta Redevelopment Agency, do hereby declare that the
foregoing agenda for the Redevelopment Agency Meeting of April 5, 1994 was posted on the outside entry to the
Council Chamber 7? 495 Calle Tampico and on the bulletin board it the La Quinta Chamber of Conttnerce on
Friday April 1 1994
Da? priI 1 1994
AUNDRA L JUHOLA Secretarv
La Quinta Redevelopment Agencv
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AGENDA CATEGORY:
BUSINESS SESSION: HL
COUNCILIRDA MEETING DATE: April 05, 1994 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Transmittal of Treasurer's Report PUBLIC REARING:
RECOMMENDATION:
Receive and File.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated February 28, 1994 for the La Quinta
Redevelopment Agency.
FINDINGS AND ALTERNATIVES:
I certify that this report accurately reflects all pooled investments and is
in compliance with California Government Code Section 53645 as amended
1/1/86; and is in conformity with City Code 3.08.010 to 3.06.070 Investment
of Money and Funds.
I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet next month's estimated expenditures.
Woods, Interim Finance Director
7' ance Department
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BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 05, 1994 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Demand Register for April 5, 1994 PUBIAC HEARING:
RECOMMENDATION:
Approval of Demand Register.
BACKGROUND & OVERVIEW:
Prepaid Warrants:
17902,18003-6,18017-27,18038 $115,362.98
18007-18016) 35,641.00
18029-18037) 31,845.97
PIR 9814 9934) $118,543.53 City Demands $660,688.27
Payable Warrants:
18040-18144) 605,984.75 RDA Demands $246,689.96
$907,378.23 $907,378.23
FISCAL IMPLICATIONS:
Demand of Cash RDA $246,689.96
i&;o)ii;terim Finance Director
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 5, 994 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Adoption of Resolution Approving Funding for the PUBLIC HEARING:
Interim Improvement of Residential Streets in
Westward Ho/Indian Springs Neighborhoods
RECOMMENDATION:
* Adopt Resolution No. RA 94- determining that the use of Redeveloment Agency funds
for public improvements are of public benefit to the Redevelopment Agency project, and the
immediate neighborhood in which the project is located, and determining that there is no other
reasonable means of financing said public improvements.
FISCAL IMPLICATIONS:
* BUDGETED: FUND/ACCOUNT: Gas Tax/Street Repair AMOUNT: $50,000
* NEW APPROPRIATIONS: FUND: RDA-PA2 Capital Improvement AMOUNT: $64,500
FUND BALANCE: BEFORE: $153,944 AFTER: $89,444
BACKGROUND AND OVERVIEW:
See related City Council Business Session Item No. 8.
David M. Cosper, P bl orks Director
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BUSINESS SESSION:
COUNCIL?DA MEETING DATE: April 5, 1994 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Acceptance of Park Avenue Widening Improvements PUBLIC REARING:
Project No.92-15
RECOMMENDATION:
By Minute Motion 94- accept Park Avenue widening improvements and direct the City Clerk
to file a Notice of Completion.
FISCAL IMPLICATIONS:
Final Actual Cost: $ 63,928.00
* BUDGETED: FUND ACCOUNT: RDAlContract Services Construction AMOUNT: $65,435.00
BACKGROUND AND OVERVIEW:
nt Calendar Item No.4.
JMF/ld
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BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 5, 1994 CONSENT CALENDAR:
ITEMTITLE: Adoption of a Resolution STUDY SESSION:
Approving a Settlement Agreement with
Marshalitown1 Iowa PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Redevelopment Agency Board adopt Resolution 93-
approving a Settlement Agreement among the City of La Quinta, the La Quinta
Redevelopment Agency, and the City of Marshailtown, Iowa, concerning funds in
dispute relating to Denman, ITM, and Refco.
BACKGROUND AND OVERVIEW:
In its continuing effort to recoup losses due to the ITM Litigation,
Stradling has negotiated a Settlement Agreement with Marshalltown, Iowa, in
the amount of $400,000. The $400,000 is subject to the previously approved
Settlement Agreement with the Iowa Trust; however, it significantly reduces
the City?s/Agency's outstanding obligation to the Iowa Trust City/Agency
equally split any recovery after the first $500,000 to Iowa Trust; and full
reimbursement to the Agency for all costs incurred during the litigation).
The proposed Settlement Agreement can be found under City Council Business
Session Item 11.
DAWN C. HONEYWELL, AGENCY COUNSEL
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BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: April 05, 1994
CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Transmittal of Statement of PUBLIC HEARING:
Financial Position Department Report
RECOMMENDATION:
Receive and File.
BACKGROUND AND OVERVIEW:
Transtuittal of the February 28, 1994 Statement of Financial Position for the
La Quinta Redevelopment Agency.
Finance Director
Finance Department
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