1997 02 25 RDAw79 78-495 CALLE TAMPICO LA QUINTA, CALIFORNIA 92253 619) 777-7000
FAX 619) 777-7101
NOTICE OF SPECIAL MEETING
OF THE
LA QUINTA REDEVELOPMENT AGENCY
TUESDAY, FEBRUARY 25, 1997
1:00PM
NOTICE IS HEREBY GIVEN THAT IN ACCORDANCE WITH GOVERNMENT CODE SECTION
54956, I, STANLEY L. SNIFF, CHAIRMAN OF THE LA QUINTA REDEVELOPMENT AGENCY,
DO HEREBY CALL A SPECIAL MEETING OF THE LA QUINTA REDEVELOPMENT AGENCY FOR
1:00 PM ON TUESDAY, FEBRUARY 25, 1997. SAID MEETING WILL BE HELD IN THE LA
QUINTA CITY COUNCIL CHAMBER, 78-495 CALLE TAMPICO, LA QUINTA, CALIFORNIA.
PURPOSE OF SAID MEETING IS AS DELINEATED ON THE ATTACHED AGENDA.
Dated: February 21, 1997
STANLEY L. SNIFF, CYiairma??T?
La Quinta Redevelopment Agency
DECLARATION OF POSTING
I, Saundra L. Juhola, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the
foregoing notice for the Special Redevelopment Agency meeting of February 25, 1997 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 faxed to the news media on Friday, February 21, 1997.
I'
February21,1997
7?AUNDRA L. JUHOLA, Secretary
La Quinta Redevelopment Agency
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MAILING ADDRESS P.O. BOX 1504 LA QUINTA, CALIFORNIA 92253 9 90 91
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V
GP?OF
La Quinta Redevelopment Agency
Agenda
City Council Chamber
78-495 CaIle Tampico
La Quinta, California 92253
Special Meeting
February 25, 1997 1:00 pm
CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
PUBLIC COMMENT
STUDY SESSION
1. DISCUSSION RELATING TO CATTELUS RESIDENTIAL GROUP PROPOSED HOUSING
PROJECT LOCATED AT THE NORTHWEST CORNER OF JEFFERSON STREET AND 48TH
AVENUE.
ADJOURNMENT
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: February 25,1997 CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
Discussion of a presentation by Catellus Residential PUBLIC HEARING:
Group on the proposed housing project located at the
northwest corner of Jefferson Street and 48th Avenue
RECOMMENDATION:
Discussion relating to a presentation on site plan alternatives for the development of the
Agency property at 48th Avenue and Jefferson Street, and provide direction on the desired
site plan alternative(s).
FISCAL IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
On September 17,1996, the Agency Board approved an Exclusive Negotiation Agreement
with Catellus Residential Group; the agreement provided that the Agency would exclusively
negotiate with Catellus regarding the development of a 39-acre parcel owned by the Agency
at 48th Avenue and Jefferson Street.
During the intervening period, the following activities have occurred:
* Two meetings were held to solicit community input on the desired development for
this property, and to review site development concepts generated by Catellus. In
addition, Catellus met with representatives of Rancho La Quinta to gain their insight
on site constraints, issues, and opportunities.
* Market studies were prepared to identify the potential absorption for commercial and
residential uses. The Catellus Study also identifies the price points, desired unit
features, absorption rates, and market segments that development on this site may
serve.
* Evaluation of site development constraints that indicated the need to: import over
100,000 cubic yards of fill dirt, construct a 12" water loop system, and construct an
on-site storm water retention system.
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w79 * Formulation of four conceptual site development options that study scenarios which
include commercial development, single-family development, and a combination of
single-family dwellings and multifamily senior housing dwellings.
I Calculation of preliminary site development cost estimates for each of the four
alternatives that identify the amount of Agency assistance needed to render
residential units to affordable very low, low, and moderate income households.
* Preliminary discussions regarding provision of Agency assistance that included the
following items:
The property would be transferred to Catellus on a phased basis, with
construction loan liens recorded only against that portion of the site that was
transferred to Catellus.
The provision of Agency financial assistance by development phase.
A limit of a 5% profit margin that may be earned by Catellus.
Agency participation in any project development cost savings.
Staff, in conjunction with representatives from Catellus and their architects, will make a
detailed presentation to the Agency Board regarding the above items. Further, staff
requests that the Agency Board provide direction on a desired alternative or alternatives;
the selected alternative(s) will then be further explored, and will serve as the basis for
negotiations regarding a Disposition and Development Agreement.
FINDINGS AND ALTERNATIVES:
1. Provide direction to staff.
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