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OF
Redevelopment Agency
Agenda
CITY COUNCIL CHAMBER
78-495 CalIe Tampico
La Quinta, California 92253
Regular Meeting
April 16, 1996 3:00 P.M.
CALL TO ORDER
a. Roll Call Beginning Res. No.96-03
CONFIRMATION OF AGENDA
APPROVAL OF MlNUT?
a. Approval of Minutes of April 2,1996.
PUBLIC COMMENT
This is the time set aside for public comment on any matter not scheduled for a public hearing. Please
complete a request to speak" form and limit your comments to three minutes.
BUSINESS SESSION
1. CONSIDERATION OF A REQUEST FOR PROPOSALS TO BE CIRCULATED TO QUALIFIED FIRMS
FOR PROPERTY MANAGEMENT AND REAL ESTATE SERVICES RELATED TO THE 50 SINGLE-
FAMILY HOMES INVOLVED IN THE LA QUINTA HOUSING PROGRAM.
A) MINUTE ORDER ACTION.
2. CONSIDERATION OF A RESIDENTIAL REHABILITATION PROGRAM INVOLVING SINGLE-FAMILY
AND UP TO FOUR-UNIT, MULTI-FAMILY DWELLINGS, AND A SECOND TRUST DEED MORTGAGE
PROGRAM FOR THE REDEVELOPMENT AGENCY PROJECT AREAS.
A) MINUTE ORDER ACTION.
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1. APPROVAL OF DEMAND REGISTER DATED APRIL 16, 1996.
2. TRANSMITTAL OF TREASURY REPORT DATED FEBRUARY 29, 1996.
3. CONSIDERATION OF SELECTION OF BROKER/DEALER LISTING OF FINANCIAL INSTITUTIONS.
4 ACCEPTANCE OF BID FOR ASSESSMENT/SEWER HOOK-UP FEE SUBSIDY PROGRAM PROJECT
96-07 TO HENDRICKSON CONSTRUCTION CO.
DEPARTMENT REPORTS
1. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED FEBRUARY 29, 1996.
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC HEARINGS
JOINT PUBLIC HEARING WITH THE CITY COUNCIL
1. AGREEMENT AND ESCROW INSTRUCTIONS FOR THE SALE OF REAL PROPERTY BY AND
BETWEEN THE CITY AND MR. & MRS. JOSE SANCHEZ FOR THE PROPERTY LOCATED AT 53-
880 AVENIDA VILLA.
A) MINUTE ORDER ACTION.
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Note: Persons identified as negotiating parties where the City is considering acquisitin of their property
are not invited into the Closed Session meeting.
1. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR PURSUANT TO
GOVERNMENT CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS
OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED AT THE NORTHEAST
CORNER OF 48TH AVENUE AND ADAMS STREET. APPLICANT: THOMAS BIENEK.
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 16, 1996 was posted on the outside
entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at the La Quinta
Chamber of Commerce, and Albertsons on Friday, April 12, 1996.
La Quinta Redevelopment Agency
PUBLIC NOTICE
The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the
hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the meeting
and accommodations will be made.
Page 3
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BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 16,1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Consideration of a Request for Proposals to be circulated to qualified PUBLIC REARING:
firms for property management and real estate services related to the 50
single-family homes involved in the La Quinta Housing Program
RECOMMENDATION:
Approve the attached Request for Proposals and authorize circulation to qualified firms. Appoint a selection committee
comprised of staff, housing consultant, and two Agency Board Members.
FISCAL IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
On March 19, 1996, the Agency Board reviewed a program status report regarding the La Quinta Housing Program.
The program involves the ownership and management, by the Agency, of 50 single-family homes located in the Cove.
The Agency purchased these homes in 1995, and has continued to rent them to qualified Section 8 family households.
To date, interim property management services have been provided by the Agency's housing/redevelopment consultant,
RSG. After discussing the report, the Agency Board directed staff to initiate the process to solicit proposals for
property management and real estate services.
Attached is a proposed Request for Proposals RFP) that would be circulated to qualified property management and
real estate firms. The RFP generally describes the services the Agency seeks, and invites potential bidders to submit
a detailed proposal that would outline the services, personnel, and fee schedule associated with providing property
management services. Further, the RFP also provides that the selected firm would be eligible to serve as the Agency's
real estate agent for the subsequent sale of these units, if sale opportunities occur during the five-year term of the
property management contract.
Pursuant to City Council Resolution 93-28, City and/or Agency solicitation and award of contracts for the provision
of professional services requires the establishment of a selection committee comprised of qualified staff members, and
up to two members of the Agency Board. As part of the Agency Board's action pertaining to this RFP, staff requests
that up to two members of the Agency Board be appointed to the selection committee.
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AGENDA CATEGORY:
BUSINESS SESSION: z
COUNCILIRDA MEETING DATE: April 16, 1996 CONSENT CALENDAR:
ITEM TIILE: STUDY SESSION:
Consideration of a residential rehabilitation program PUBLIC HEARING:
involving single-family and up to four-unit multifamily
dwellings, and a City-wide Second Trust Deed Mortgage
Program
RECOMMENDATION:
Agency direction.
FIS CAL IMPLICATIONS:
If the Agency instituted these programs, annual funding requirements could range from $750,000 to
$1,000,000 per year. The source of this revenue would be the Agency's Affordable Housing Fund.
BACKGROUND AND OVERVIEW:
In 1995, the La Quinta Redevelopment Agency sold over $22 million in tax allocation bonds to raise
capital in order to find a proactive affordable housing effort. As part of the bond issuance process,
the Agency approved a list of proposed housing programs that included a multitude of components.
One program involved establishing a rehabilitation program to provide low interest loans to assist
single and small multifamily up to four units) property owners with property rehabilitation and
improvement activities; another program involved funding second trust deed mortgages that would
be available to underwriter's home purchases in Project Areas No. I and No.2.
Agency staff has formulated the following program outline and requests Agency Board input and
direction as to whether or not it desires to proceed with one or both programs. If accepted by the
Board, then staff would formulate a specific program description and implementation plan for
subsequent Agency Board consideration and adoption.
Residential Rehabilitation Program
The residential rehabilitation program would involve single-family and up to four unit multifamily
dwellings located throughout the City of La Quinta. The purpose would be to assist the elimination
of blight, improve and upgrade older residential dwellings, and preserve the low and moderate
income housing stock in La Quinta through recorded affordability covenants. Both owner and
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] AGENDA CATEGORY:
BUSINESS SESSION
COUNCILIRDA MEETING DATE: APRIL 16, 1996
CONSENT CALENDAR
ITEM TITLE:
STUDY SESSION
Demand Register Dated April 16, 1996 PUBLIC HEARING
RECOMMENDATION: Approve Demand Register Dated April 16, 1996
BACKGROUND:
Prepaid Warrants:
24793 24794 404.98
24795 24840? 4,066.62
24841 24851 73,508.05
24852 24853? 85,470.72
24854 24856 43,490.37
PIR I3548-l3628? 72,621.04
PIR Tax Transfers 22,641.10 CITY DEMANDS $520,616.50
Payable Warrants:
24857 24975? 3(54,046.34 RDA DEMANDS 85,632.72
$606,249.22 $606,249.22
F ISCAL IMPLICATIONS:
Demand of Cash RDA $85,632.72
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z
OF
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA ME?NG DATE:
April 16, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
PUBLIC HFARING:
Transmittal of Treasurer's Report
as of February 29, 1 996
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated February 29, 1 996 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 3.08.070 Investment of Money
and Funds.
I hereby certify that sufficient investment liquidity and anticipated revenues are
available to meet next month's estimated expenditures.
A,? A'
h M. Falconer, inance Director
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE:
April 16, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
PUBLIC HEARING:
Consideration of Selection of Broker/Dealer
for La Quinta Redevelopment Agency
Listing of Financial Institutions
RECOMMENDATION:
Approve Mr. Ernest Marchowsky of Dean Witter, Newport Beach Attachment No.1)
and Mr. Ron Meraz and Mr. Aifredo Sandoval of Merrill Lynch Pierce Fenner & Smith,
Inc. of Indian Wells Attachment No.2) be placed as broker/dealers on the Listing of
Financial Institutions for the La Quinta Redevelopment Agency.
See City Council Agenda Business Session Item for background information.
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 16, 1996 CONSENT CALENDAR: IL
ITEM TIThE: STUDY SESSION:
Acceptance of Bid for Assessment/Sewer PUBLTC REARING:
Hook-Up Pee Subsidy Program Project 96-07
Hendrickson Construction, Inc.
Accept the low bid from Hendrickson Construction, Inc. for the hook-up of 15 sewers in the
amount of $30,372.00.
FISCAL IMPLICATIONS:
The RDA Assessment Subsidy Program has a current balance of $71,517.00. The award of this
contract would reduce the amount of program available funds to $41,145.00.
Project 96-07 is for the hook-up of 15 sewers on the fee subsidy program, located on the attached
map. Attachment No.1). Three contractors submitted bids as follows:
Hendrickson Construction, Inc. $30,372.00, Denboer Engineering and Construction $33,978.00,
and Dateland Construction Company Inc. $37,764.00. The bid proposal for the project is
included as Attachment No.2.
The low bidder Hendrickson Construction, Inc.) has met all the requirements of the bid
specifications and has proven to be qualified in previous projects performed for the city. The bid
price is consistent with previous sewer projects. The only alternative to awarding the project to
Hendrickson is to reject all bids and delay construction of Project 96-07.
Tom HartungV
Director of Building and Safety
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE:
April 16, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSTON:
PUBLIC HEARING:
Transmittal of Revenue and Qef+.
Expenditures Report dated February 29, 1 996
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the February 29, 1 996 Statement of Revenue and Expenditures for
the La Quinta Redevelopment Agency.
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1
AGENDA CATEGORY:
4OF?? BUSINESS SESSION:
COUNCILIRDA MEETING DATE: April 16,1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Public Hearing on an Agreement and escrow instructions for PUBLIC HEARING: J
the sale of real property owned by the Redevelopment
Agency by and between the City and Mr. & Mrs. Jose
Sanchez for the property located at 53880 Avenida Villa
RECOMMENDATION:
Approve the Agreement and escrow instructions regarding the disposition of the property.
FISCAL IMPLICATIONS:
If the sale is consummated, the Agency will receive a total of $73,523 in sale proceeds; these monies
would be deposited into the Agency's Affordable Housing Bond Fund.
BACKGROUND AND OVERVIEW:
The Agency currently owns a 1,479 square foot, three-bedroom, two-bath single-family dwelling
located at 53880 Avenida Villa Property"). The Property was part of a larger 15-unit affordable
housing project constructed by Stockman Development Company in 1992. These units were sold to
very low, low, and moderate income families, and featured both Agency silent second trust deeds to
insure that the housing costs would be affordable to the targeted households) and 30-year covenants
to insure the continued affordability of each unit. In the summer of 1995, the initial home buyer
desired to relocate from La Quinta, but could not find a qualified buyer to purchase the property. He
approached the Agency with a request that the Agency exercise a purchase option that was part of
the Agency's affordability covenants which provided that the Agency could purchase this property
to preserve? its affordable housing covenant. The transaction closed in August, 995 with the Agency
purchasing the unit for a cost of $110,000; of this amount, $34,632 was the existing Agency second
trust deed mortgage, with an additional $75,368 paid by the Agency to retire the first trust deed
mortgage.
Subsequent to the purchase, staff has been working with local realtors to market the Property. On
February 15, 1996, staff received a purchase offer of $ 11,500 from Jose De Jesus and Anna Felicitas
Sanchez Buyers"); they subsequently qualified for first trust deed financing subject to a lender's
appraisal. The appraisal, which was completed and presented on March30, I 995, indicated a current
market value of no more than $102,000.
Accompanying this report is the Summary Report on the proposed transaction, and the Escrow
Instructions that facilitate the sale of the Property. The Instructions provide that the Property would
be sold to the Buyers for a sales price of $102,000; $73,675 would be funded through their first trust
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