1985 09 03 RDA^G 1
AGENDA
LA QUINTA REDEVELOPMENT AGENCY
A regular meeting of the La Quinta
Redevelopment Agency to be held at
City Hall, 78-105 Calle Estado,
La Quinta, California.
September 3, 1985 7:30 p.m.
1. CALL TO ORDER
2. ROLL CALL
3. HEARINGS
4. CONSENT CALENDAR
A. Approval of the Minutes of a regular meeting of the La Quinta Redevelopment
Agency held August 20, 1985.
B. Approval of the Minutes of a special meeting of the La Quinta Redevelopment
Agency held August 27, 1985. Will be handed out at the Study Session)
5. BUSINESS SESSION
A. Report from the Executive Director regarding flood control benefits with
respect to affordable housing.
1) Communication from Katz Hollis Coren & Associates.
2) Resolution for adoption.
B. Other.
6. ADJOURNMENT
BIB]
03-26-1998-U01
04:22:17PM-U01
ADMIN-U01
RDA-U02
09-U02
03-U02
1985-U02
^G I i.
MEMORANDUM
CITY OF LA QUINTA
To:
Honorable Chairman and Members of the Redevelopment Agency
From: Frank M. Usher, Executive Director
Date: August 29, 1985
Subject: Flood control benefits with respect to affordable ho-using
The redevelopment law provides that 15% of new or rehabilitated dwelling
units in a redevelopment project area shall be affordable housing. It
also provides that 20% of the tax increment available to the redevelop-
ment agency shall be used for the benefit of affordable housing. It is
the opinion of our Special Counsel and our consultants that the flood
control improvements will be of benefit to affordable housing by
removing the need for individual flood protection calculated to cost
approximately $5,000 per dwelling unit.
Based upon our current projections, the benefit relating to affordable
housing is $5,075,000. This amount will be saved in the construction
of affordable housing because individual flood protection measures will
no longer be necessary. The 20% allocati6n of tax increment would then
be available to fund debt service and a proportionate share of issuance
cost of the $5,075,000 portion of the bond issue.
Our Special Counsel has prepared a resolution making findings regarding
this matter. Adoption is respectfully recommended.
BIB]
03-26-1998-U01
04:22:17PM-U01
ADMIN-U01
RDA-U02
09-U02
03-U02
1985-U02
d_k/= NOTEXTPAGE
BIB]
12-14-1998-U01
11:18:56AM-U01
ADMIN-U01
RDA-U02
09-U02
06-U02
1989-U0
d_k3= NOTEXTPAGE
BIB]
12-14-1998-U01
11:18:56AM-U01
ADMIN-U01
RDA-U02
09-U02
06-U02
1989-U0
d_k4= NOTEXTPAGE
BIB]
12-14-1998-U01
11:18:56AM-U01
ADMIN-U01
RDA-U02
09-U02
06-U02
1989-U0
d_k5= NOTEXTPAGE
BIB]
12-14-1998-U01
11:18:56AM-U01
ADMIN-U01
RDA-U02
09-U02
06-U02
1989-U0
d_k6= NOTEXTPAGE
BIB]
12-14-1998-U01
11:18:56AM-U01
ADMIN-U01
RDA-U02
09-U02
06-U02
1989-U0