1984 11 06 RDA^ N
AGENDA
IA QUINTh REDEVELOPMENT *
* A regular treeting of the La Quinta
Bedevelo*t Agen** to be held at
City Hall, 78-105 Calle Estado,
La Quinta, California.
Nov*!*ber 6, 1984 7:30 p.m.
1. OATJ. To ORDER
2. *T. rAT*.
3. HEARINQS
4. CONSENT C*L*D**R ROIL CAIL VOTE)
A. Approval of the Minutes of a regular iteeting of the La Quinta *develo*ir*t
Agen* held October 16, 1984.
B. PROPOSED RESOLUTION*. A RESOumON C*' THE IA Q(3ITA RED*PMENT
AG*, APP*VING D*DS.
5. BUSINESS SESSION
A. Report fr*n the E*cecutive Director regarding flood control bonds.
B. Other.
6. *
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^ a
MEMORANDUM
CITY OF LA QUINTA
To; Honorable Mayor and Members of the City Council
From: Frank M. Usher, City Manager
Date: November 2, 19B4
Subject: Status of Flood Control Bonds
As you are aware, project engineering is currently under way,
with completion expected in December. At that time, bids will
be sought, with the cost of the project to be known in
January.
About six weeks ago, Larry Arceneaux, from Katz Hollis, Fritz
Stradling and I met with Lowell Weeks regarding bond scheduling.
Subsequent to that meeting, Mr. Weeks asked Landmark to prepare
as detailed a development schedule as possible for Katz Hollis
to use in projecting tax increment growth. Last week, Joe Walser
told me they were nearing completion of this. It has been
dependent upon the successful completion of the agreement with
Sunrise Company, which has just been concluded.
An additional beneficial element has been the Sandpebble project.
Development of this project will increase the tax increment
projection substantially, beyond what was contemplated in the
initial feasibility study.
These development figures will be analyzed by Katz Hollis,
followed by bond issue structuring. This process will be done
during the latter part of November and December.
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