1989 01 31 RDAi^" REDEVELOPMENT AGENCY
AGENDA
CITY COUNCIL CHAMBERS
78-105 Calle Estado
La Quinta, California 92253
Adjourned Meeting
January 31, 1989 7:30 P.M.
CALL TO ORDER
a. Roll Call
HEARINGS
BUSINESS SESSION
1. Consideration of Assessment Subsidy Program for Assessment
District No. 88-1.
a) Minute Order Action.
CLOSED SESSION to discuss potential litigation regarding
Redevelopment Agency Project Area No. 2.
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 January 31, 1989 was posted on
the outside entry to the Council Chamber, 78-105 Calle Estado
and on the bulletin board at the La Quinta Post Office on
Friday, January 27, 1989.
Dated: January 27, 1989.
SAUNDRA L. JUHOLA, Secretary
La Quinta Redevelopment Agency
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i^" BUSINESS SESSION ITEM NO I
DATE: January3l,1989
TO: Mayor and Members of the City Council
Chair and Members of the Redevelopment Agency
FROM: Ronald E. Kiedrowski, City Manager
SUBJECT: ASSESSMENT SUBSIDY PROGRAM
At your January 17, 1989 meeting staff presented a proposal that called for the
Redevelopment Agency to subsidize assessment district payments for Assessment
District No.88-i This program would be provided In conjunction with the proposed
Assessment District1 and would be available to persons and households in the very low,
low and moderate Income categories. Monies from the Project Area No.1 Low and
Moderate Income Housing Fund would be used to make the subsidy payments. At that
meeting, the City Council Agency authorized the City Manager to move forward and
develop said program.
Attached you will find the proposed Assessment Subsidy Program to be provided by the
La Quinta Redevelopment Agency. The Program's purpose is to improve and increase
the supply of affordable very low, low and moderate income housing while providing
necessary Infrastructure Improvements utilizing assessment district funding. The
Program calls for the Agency to directly pay assessment payments for qualifying
persons or households. Program features of the programs include the following:
Available to Owner Occupied and Rental Units. The Program will be made
available to both owner occupied and rental units. In doing so, the Agency
will not be discriminating against any one particular category of dweller, and
will provide a program that services the greatest number of eligible
households.
Income Requirements. The Program is targeted to service persons and
households that fall within the very bw, low and moderate Income categories.
The California Redevelopment Law s*cally defines the very low and low
income categories, which are respectively dassified as 50% and 80% of the
City's median Income. The Law does not define the moderate income
category; for this Prograrn we are defining ft to be not more than 100% of the
City's median income. In 1988, the City's median income for a family of four
which is taken from the HUD established median income the Riverside-San
Bernardino Metropolitan Statistical Area and is adjusted for family size) was
$30,300.
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i^" The Program also proposes to incorporate additional income adjustments for
elderly households persons G2orolder), arnl for persons or households that
incur reoccurring extraordinary medical expenses. The aforementioned
incomes will be reduced by 10% for elderly households and will be adjusted
for households with reoccurring extraordinary medical expenses.
adjustments parallel provisions of the *California Relocation Assistance
and Real Property Acquisition Guidelines".
Amount of Subsidy. The Program provides for full payment of assessments
for qualifying persons or households.
Covenant of Affordability. The California Redevelopment Law requires the
recordation of deed covenants against properties that benefit from the
expenditure of low and moderate Income housing funds. The covenants are
to ensure to continued affordability of the housing unit. The Program
provides for a ten 10) year covenant for owner occupied units and a fifteen
15)year covenant for rental units. If, however, the applicant at a future date
no longer qualifies in that the housing unit is sold and no longer affordable to
specified households or their income level rises to a level greater than 120%
of median income) the assessment subsidy will require repayment and the
Covenant of Affordability shall be rescinded.
The Assessment Subsidy Program provides an additional vehicle wherein the City and
Redevelopment Agency can mitigate the Impact of the proposed Assessment District on
very low, low and moderate income families. While the Program incorporates features
that may not be enthusiastically accepted by property owners, it does provide a
reasonable approach to maintaining the supply of affordable housing in the City of La
Quinta
If this Program is approved by the City Council/Agency, staff will immediately begin to
aggressively market this prog ram to property owners in the Cove. We propose to mail
out a package that Incudes Introductory cover letter, a pamphlet describing the
Assessment Subsidy Program and applications. Further, it is proposed that the
Agency's redevelopment consultant assign a housing specialist to this project to assist in
the review and verification of submitted applications. Our goal Is to review, quali* and
fund all eligible applicants by the last day to make assessment payments, which is
antici at to be March 13, 1989.
By motion, approve the Assessment Subsidy Program and direct the City
Manager/Executive Director to move forward an in tit e the activities necessary for
implementation. Final approval of this Program will take place through the adoption of
resolutions by both the C* Coundl and Redevelopment Agency at your next meeting. *
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