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1995 02 21 RDAing -> 10*A 1 JQe?ue?p?ent eJa CHY COUNCIL CHAMBER 78-495 CaIle Tampico La Quinta, CaIi?rnia 92253 Regular Meeting February 21, 1995 3:00 P.M. CALL TO ORDER Beginning Res. No. RA 95-03 a. Roll Call CONFIRMAIlON OF AGENDA APPROVAL OF MINUmS a. Approval of Minu?s of February 7, 1995 PUBLIC COMMENT BUSINESS SESSION RESOLUTION APPROVING THE REDEVELOPMENT PLAN FOR THE LA QUINTA REDEVELOPMENT PROJECT AS AMENDED BY AMENDMENT NO. L AND APPROVING THE REPORT TO THE CITY COUNCIL AND AUTHORIZING TRANSMITTAL OF THE AMENDED PLAN AND THE REPORT TO THE CITY COUNCIL. A) RESOLUTION ACTION. 2. SELECTION OF VICE CHAIRMAN OF THE REDEVELOPMENT AGENCY BOARD. A) MINUTE ORDER ACTION. 000001 BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A CONSENT CAU?NDAR 1 APPROVAL OF DEMAND REGISTER DATED FEBRUARY 21,1995. DEPARIMENT REPORTS CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS 7:00 P.M. JOINT MEElING Will T'IIE Crl'y OF LA OUINTA 1. JOINT PUBLIC HEARING ETW'EEN THE LA QUINTA REDEVELOPMENT AGENCY AND THE LA QUINTA CITY COUNCIL TO TAKE PUBLIC COMMENT ON THE REDEVELOPMENT PLAN FOR THE LA QUINTA REDEVELOPMENT PROJECT AREA NO. I AS AMENDED BY AMENDMENT NO.1. A) MINUTE ORDER ACTION. CLOSED SESSION 1 DISCUSSIONS OF NEGOTIATIONS CONCERNING POTENTIAL ACQUISITION AND?OR SALE OF REAL PROPERTY WITHIN THE COVE AREA OF LA QUINTA PURSUANT TO GOVERNMENT CODE SECTION 54956.8 BUILDING HORIZONS BOYS & GIRLS CLUB OF COACHELLA VALLEY). 2. CONFERENCE WITH REAL PROPERTY NEGOTIATOR CONCERNING 50 INDIVIDUAL RESIDENTIAL PROPERTIES LOCATED GENERALLY IN THE COVE, SPECIFICALLY IDENTIFIED IN THE AGREEMENT WITH COACHELLA VALLEY LAND NEGOTIATOR, BYRON RADAKKER INSTRUCTING THE NEGOTIATOR CONCERNING PRICE, TERMS OF PAYMENT FOR ACQUISITION OF PROPERTIES PURSUANT TO GOVERNMENT CODE SECTION 54956.8. 3. CONFERENCE WITH LEGAL COUNSEL CONCERNING ON-GOING LITIGATION AThAS ENVIRONMENTAL SERVICES, INC. VS KENKO, CITY OF LA QUINTA, ET. AL. CASE NO. 80078 PURSUANT TO GOVERNMENT CODE SECTION 54956.9. 4. CONFERENCE WITH REAL PROPERTY NEGOTIATOR CONCERNING THE DISPOSITION OF PROPERTY LOCATED AT THE NORTHWEST CORNER OF AVENUE 48 AND JEFFERSON STREET INSTRUCTING NEGOTIATOR JERRY HERMAN, CONCERNING PRICE, TERMS OF PAYMENT FOR SALE OF PROPERTY PURSUANT TO GOVERNMENT CODE SECTION 54956.8. 000002 ADJOURNMENT BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A DECLARATION OF POSTING 1, SAUNDRA L. JUHOLA, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda for the Redevelopment Agency Meeting of February 21, 1995 was posted on the outside entry to the Council Chamber, 78-495 Calle Tamp ico and on the bulletin board at the La Quinta Chamber of Commerce on Friday, February 17,1995. AUNDRA L. JUHO Secretary La Quinta Redevelopment Agency 000003 BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A 0 5 0?OF 4 AGENDA CATEGORY: BUSINESS SESSION: COUNCILIRDA MEETING DATE: February 21, 1995 CONSENT CALENDAR: ITEM TIThE: Resolution of the La Quinta Redevelopment Agency STUDY SESSION: Approving the Redevelopment Plan for the La Qrnn? Redevelopment Project As Amended By Amendment No. I and Approving Its Report to PUBLIC HEARING: the City Council and Authorizing Transmittal of the Amended Plan and the Report to the City Councill RECOMMENDATION: That the Agency adopt Resolution No.95- approving the Redevelopment Plan for the La Quinta Redevelopment Project No.1 as amended by Amendment No.1 the Amended Plan"), approving its Report to the City Council Report to Council"), and authorizing transmittal of the Amended Plan and Report to Council. FISCAL IMPLICATIONS: No direct fiscal implications. Under the California Constitution, the Agency has no authority to levy taxes; therefore, this Amendment will not cause an increase in property taxes. Agency approval of the attached Amended Plan and Report to Council and subsequent adoption of the proposed amendment to the Redevelopment Plan for the La Quinta Redevelopment Project No.1 the Amendment") by the City Council will permit the Agency the authority to undertake additional redevelopment activities through the Amended Plan. As indicated on Page E-9 of the Report to Council, the total cost of the redevelopment program proposed within the Amended Plan is $1 842 billion, consisting of taxing entity payments of $959.7 million, existing debt service obligations of $58.4 million, housing program costs of $367.5 million, and nonhousing program costs and administration of $456.4 million. Housing program costs are comprised of direct project costs of $142.6 million and financing costs of $224.9 million. Nonhousing program costs include $151.4 million of direct project costs, financing costs of $244.9 million, and administration expenses of $60.0 million. In order to fund the total $1 g42 billion cost of the La Quinta Redevelopment Project No.1 Project No.1"), the Amended Plan incorporates a $2.0 billion tax increment revenue limit and a $200.0 million bond indebtedness limit. BACKGROUND AND OVERVIEW: On February 15,1994, the Agency approved the Preliminary Plan for the Amendment to the La Quinta Redevelo?ment Project No.1. This Agency Board action initiated proceedings to amend the existing Redevelopment Plan for Project No.1 the Existing Plan") as follows: 000004 BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A NOTEXTPAGE BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A NOTEXTPAGE BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A NOTEXTPAGE BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A NOTEXTPAGE BIB] 05-14-1999-U01 11:43:09AM-U01 ADMIN-U01 RDA-U02 02-U02 21-U02 1995-U02 ing -> 10*A AGENDA CATEGORY: C?oF BUSINESS SESSION: COUNCILIRDA MEETING DATE: February 21, 1995 CONSENT CALENDAR: ITEM TIThE: STUDY SESSION: PUBLIC REARING: Selection of Vice Chairman of the La Quinta Redevelopment Agency RECOMMENDATION: 1. Selection of Vice Chairman FISCAL IMPLICATIONS: None BACKGROUND AND OVERVIEW: Former Council Member, Michael McCartney previously was serving as Vice Chairman of the La Quinta Redevelopment Agency. His resignation from the City Council makes it necessary to select another Vice Chairman. On January 18, 1994, the La Quinta Redevelopment Agency adopted Resolution No. RA94-1 attached) which amended the Agency's By-Laws. The By-Laws now state that the position of Vice Chairman will be filled by a Board Member not presently holding the position of Mayor, Mayor Pro Tern of the City or Chairman of the Agency. This means that Board Members Cathcart and Perkins are eligible for appointment. FINDINGS AND ALThRNATIVES: 1. Selection of Vice Chairman of the Agency. 2. Continue and Provide Staff Direction. NDRA L. 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