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Redevelopment Agency
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
June 18, 1996 3:00P.M.
CALL TO ORDER
a. Roll Call Beginning Res. No. 96?)3
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.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes of June 4, 1996.
BUSINESS SESSION None
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1. APPROVAL OF DEMAND REGISTER DATED JUNE 18,1996.
2. TRANSMITTAL OF TREASURY REPORT DATED APRIL 30, 1996.
3. ADOPTION OF RESOLUTION MAKING CERTAIN PUBLIC IMPROVEMENT FINDINGS IN
CONNECTION WITH A TRAFFIC SIGNAL PROJECT ON HIGHWAY 111.
4. APPROVAL OF INVESTMENT POLICY FOR FY 1996/97.
DEPARTMENT REPORTS
1. TRANSMITTAL OF REVENUE & EXPENDITURES REPORT DATED APRIL 30, 1996.
CHAIR AND BOARD MEMBERS ITEMS
PUBLIC HEARINGS None
CLOSED SESSION None
ADJOURNMENT
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I, Saundra L. Juhola, Secretary of the La Ouinta Redevelopment Agency, do hereby declare that the
foregoing agenda for the Redevelopment Agency Meeting of June 18, 1996 was posted on the outside
entry to the Council Chamber, 78-495 CaIle Tampico and on the bulletin board at the La Quinta
Chamber of Commerce, and Albertsons on Friday, June 14, 1996.
AUNDRA L. J OLA, Secretary
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.
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4
OF
AGENDA CATEGORY:
BUSINESS SESSION
COUNCLLIRDA MEETING DATE: JUNE 18, 1996
CONSENT CALENDAR
ITEM TITLE.
STUDY SESSION
Demand Register Dated June 18, 1996 PUBLIC HEARING
RECOMMENDATION: Approve Demaud Register Dated June 8, 1996
BACKGR?QUND.
Prepaid Warrants:
25427 25431) 22,651.22
25432 25479) 3,178.49
25480) 81.43
Wire Transfer,? 31,033.04
PIR 13869-13999) 99,421.74
PIR Tax Transfers) 23,299.43 CITY DEMANDS $579,255.32
Payable Warrants.
25481 25585) 1,027,945.53 RDA DEMANDS 628,355.56
$1,207,610.88 $1,207,610.88
FISCAL IMPLICATIONS:
Demand of Cash RDA $628,355.56
Jo n M. Falconer, Finance Director
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L? Cg?
AGENDA CATEGORY:
4oFj:??
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: June 18, 1996 CONSENT CALENDAR:
ITEM TITLE: STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report
as of April 30, 1996
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated April 30, 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.
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0
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: June 18, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
Adoption of a Resolution Making Certain
Public Improvement Findings in Connection PUBLIC HEARING:
with a Traffic Signal Project on Highway 111.
RECOMMENDATION:
Adopt the resolution of the La Quinta Redevelopment Agency making certain public
improvement findings in connection with a traffic signal project on Highway 111.
FISCAL IMPLICATIONS:
Adoption of this Resolution will not result in a fiscal impact to the Redevelopment
Agency. However, to fund certain traffic signal improvements on Highway 111 with
Redevelopment Agency Project Area No.2 funds, as recommended in the Fiscal
Year 1996 1997 Capital Improvement Program to be considered by the City Council,
the Redevelopment Agency must adopt these findings.
BACKGROUND AND OVERVIEW:
On April 30, 1996 and June 4, 1996, the City Council was presented a draft Fiscal
Year 1996 1997 Capital Improvement Program for its review. Based upon its
review, the City Council directed staff to utilize $300,000 of Redevelopment Agency
Project Area No.2 funds for traffic signal improvements on Highway 111, at Plaza
La Quinta.1 Pursuant to Health and Safety Code Section 33445, the Redevelopment
Agency must make the following findings:
* These improvements are of a benefit to the Project Area and immediate
neighborhood in which the project is located.
* There are no other reasonable means of financing the improvements
available to the community.
1The City Council directed staff to utilize Infi?Infrastructure Funds for the traWic signal improvements??emeflts on Highway 11
at Plaza La Quinta? However, based upon the advisement of the City Attorney regarding the use of Infi?Infrastructure Funds for
a project not specifically identified in the Canrrnunity Inli?Infrastructure Fee Study, it was recommended in the Fiscal Year 1996
1997 Capital Improvement Program that 3O()?OOO of Redevelopment Agency Pmjcct Area No.2 funds set aside for the
Highway II l?DC O?'nei.'s Participation Agreement be utilized for these improvements, and replaced with Ir'rastructure
Funds. The improvements to the intersection of Washington Street and Highway Ill pat of the Highway Ill Widening
Project) are identified in the Communit, Infra street we Fee Study.
r\wp\pwd?pV.coun?i1\1996\96O6J 8x OOOO4?
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AGENDA CATEGORY:
4OFT??? BUSINESS SESSION:
COUNCILIRDA MEETING DATE: June 18, 1996 CONSENT CALENDAR: IL
ITEM TIThE: STUDY SESSTON:
PUBLIC HEARING:
Consideration of a Resolution of the
Board of the La Quinta Redevelopment Agency
Adopting the Investment Policy of
the Redevelopment Agency for
Fiscal Year 1 996/97
RECOMMENDATION:
Approve the resolution of the Board of the La Quinta Redevelopment Agency,
adopting the Investment Policy of the Redevelopment Agency for Fiscal Year 1 996/97.
FISCAL IMPLICATIONS:
None
BACKGROUND AND OVERVIEW:
SB564 imposes certain reporting requirements on state and local agencies.
Specifically, the bill requires, in part, that the treasurer of a local agency submit an
annual statement of investment policy to the legislative body.
As a result of this reporting requirement, in February of 1 996 the Investment Advisory
Board lAB) began the process of updating the Investment Policy to conform with this
legislative requirement.
The Investment Advisory Board met at their June 1 2, 1 996 meeting with the City
Manager, City Attorney and City Treasurer to review the proposed Investment Policy.
The proposed Investment Policy is included as Attachment A of the resolution.
At the June 1 2th meeting, the lAB voted 5 Ayes, 1 Nay & 1 Absent) to submit the
proposed Investment Policy to the City Council for consideration.
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AGENDA CATEGORY:
OF BUSINESS SESSION:
COUNCILIRDA MEETING DATE:
June 18, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSTON:
PUBLIC REARING:
Transmittal of Revenue and
Expenditures Report dated April 30, 1 996
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the April 30, 1 996 Statement of Revenue and Expenditures for the
La Quinta Redeveiopment Agency.
OOOO9?
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