1993 09 21 RDAd_$( 0
OF
REDEVELOPMENT AGENCY
AGENDA
crry COUNCIL CRAMBER
7SA95 Calle Tampico
La Quinta, California 92253
Regular Meedlig
September 21, 1993 3:00 P.M.
CALL TO ORDER Beginning Res. No. RA 93-10
a. Roll Call
CONFTRMATION OF AGENDA
APPROVAL OF MINIY?
a. Approval of Minutes of March 16, June 22, July 6, August 3, August 17, and
September 7,1993
PUBLIC COMMNT
BUSIEESS SESSION
1. Transmittal of Treasurer's Reports Dated July 31, 1993.
CONSENT CAlNDAR
1. Approval of Demand Register Dated August 17, September 7, 1993.
2. Approval of Settlement Agreement with Greenwich Capitol Markets Inc. and
Michael Howe.
3. Approval of Contract Change Order 92-1-01 for Completion of Storm Drain
Facilities.
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d_$(DEPARIMENT REPORTS
a. Finance Department Transinittal of Statements of Financial Position July 31 and
August 31, 1993.
CHAIR AND BOARD MEMBERS rll?MS
PUBLIC HEARINGS None
CLOSED SESSION
a. Discussion of on-going litigation pursuant to Govermnent Code Section 54956.9(a)
Riverside County Interpleader Action Case No.23499
b. Discussion of negotiations pursuant to Government Code Section 54956.8
The Tucker Company's proposal for commercial project La Quinta Canyon
Center) located generally south of Highway 111 west of Adams Street and
east of Dune Palms Road.
Amcor Realty Properties Ill/A-A-A Housing Partners proposal for housing
and commercial project including potential acquisitioli of property in the
Cove area.
Urban Housing Group Proposal for housing project including potential land
acquisition/disposition of property general north of Avenue 48th east of
Jefferson Street and West of Dune Palms Road.
Desert Pacific Properties proposal including potentital land acquisition in the
Cove area.
AI)JOURN?IENT
DECLARATION O? POSTING
I, SAUM)RA L. JUHOLA, Secretary of the La Quinta Redevelopment Agency, do hereby
declare that the foregoing agenda for the Redevelopment Agency Meeting of September 21,
1993 was posted on the outside entry to the Council Chamber, 78-495 Calle Tampico and
on the bulletin board at the La Quinta Chamber of Commerce on Friday, September 17,
1993.
Da d: September 1993.
UNDRA L. OLA, Secretary
La Quinta Redevelopment Agency
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C?9.,AAA??I:I??
AGENCY MEETING DATE: SEPTEMBER 21, 1993 AGENDA CATEGORY:
ITEM TITLE: PUBLIC HEARING:
BUSINESS SESSION:
DEPARTMENT STAFF REPORT
FINANCE DIRECTOR CONSENT CALENDAR:
TRANSMITTAL OF TREASURER'S REPORT STUDY SESSION:
Transmital of July 31, 1993 Treasurer's Report.
I certify that this report accurately reflect.? all pooled investments
and is in compliance with California Government Code Section 53645 a?
amended 1/1/86; and is in conformity with City Code 3?Q8.QlO to 3.08.070
Investment of Moneys and Funds.
As Treasurer of the City of La Quinta, I hereby certify that
sufficient investment liquidity and anticipated revenues are
available to meet next month1s estimated expenditures.
masjRel)y j;ffi?
City Treasurer
RECOMMENDATION:
Receive and File
Submitted by: Approved for submisbion to
Redevelopment Agency
STha+ure'? RJBYRT L. HPNT??
EXECUTIVE DIRECTOR
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d_$(REDEVELOPMENT AGENCY
COUNCIL MEETING DATE: SEPTEMBER 21, 1993 AGENDA CATEGORY:
ITEM TITLE: PUBLIC HEARING:
BUSINESS SESSION:
Demand Register AUGUST 17, 1993
CONSENT CALENDAR:
STUDY SESSION:
BACKGROUND:
Warrants 550 $376,381.75
FISCALIMPLICATIONS: APPROVED BY:__
Demand of Cash $376,381.75
RECOMMENDATION:
Approval of Demand Register
Submitted by: Approved for submission to
City Council
ROBERT L. HUNT
CITY MANAGER
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REDEVELOPMENT AGENCY
MEETING DATE: September 21, 1993 AGENDA CATEGORY:
PUBLIC HEARING:
ITEM TITLE: Approval of Settlement
Agreement with Greenwich Capital BUSINESS SESSION:
Markets Inc. and Michael Howe
CONSENT CALENDAR:
STUDY SESSION:
BACKGROUND: Attached is a Settlement Agreement between Greenwich Capital
Markets Inc. and the City of La Quinta arising out of one of the third party
Wymer litigation matters. The proposed Settlement Agreement will provide La
Quinta with a $50,000 payment. Because this settlement was negotiated prior
to the Iowa Trust settlement, it will not be subject to the Iowa Trust
splitting of recoveries as outlined in the Iowa Trust Settlement
Agreement.
FISCAL IMPLICATIONS: Receipt of $50,000 as provided for in the Agreement
will be allocated as follows: $23,000 to the Redevelopment Agency and
$27,000 to the City pursuant to the Agency/City loss ratio of 46%/54%).
APPROVED BY: 7
RECOMMENDATION: Approve the Settlement Agreement and authorize the Mayor
to execute the Agreement on behalf of the Redevelopment Agency and City
of La Quinta.
Submitted by: Approved for submission to the
Thomas P. Genovese, Chairman and Members of the La
Assistant City Manager Quinta Redevelopment Agency:
Signature ROBERT L. HUNT, EXECUTIVE DIRECTOR
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REDEVELOPMENT AGENCY
MEETING DATE: September 21, 1993 AGENDA CATEGORY:
ITEM TITLE: PUBLIC HEARING:
Approval of Contract Change Order for
Completion of Storm Drain Facilities. BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
SU??IARY:
To complete the storm drain facilities in a cost efficient manner, it is prudent to consider installing the
remaining facilities under the current contract for the Phase V project. The proposed contract change
order, if implemented, will complete the storm water coHection system in the Cove area
FISCAL IMPLICATIONS: APPROVED BY: 7
4
The existing amount in the project's storm drain contingency account is $269,549. Since the amount
required for this work is $292,670, an additional $23,121 will be need to be appropriated to cover this
contract change order in addition to an appropriation of $149,408 to establish a new 5% contingency
amount. A total of $172,529 needs to be appropriated from current year RDA Project Area No. 1
reserves of $1.398 million.
RECO?'[ENDATION:
Recommend approval of contract change order No.92-1-Olin the amount of $292,670 and the transfer
of funds in the amount of $172,529 to the P/'ase 5 RDA Constntction Aeeo?i?t from the RDA-l Fund
Reserves of $1.398 million.
Submitted by: Approved for Submission to
Redevelopment Agency:
Robeit L. Hunt, Executive Director
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d_$(REDEVELOPMENT AGENCY
MEETING DATE: SEPTEMBER 21,1993 AGENDA CATEGORY:
ITEM TITLE: PUBLIC HEARING:
BUSINESS SESSION:
DEPARTMENT STAFF REPORT
FINANCE DIRECTOR CONSENT CALENDAR:
TRANSMITTAL OF STATEMENT OF STUDY SESSION:
FINANCIAL POSITION
DEPARTMENT REPORT: a
Transmital of the July 31, 1993 Statement of Financial Position
for the La Quinta Redevelopment Agency.
RECOMMENDATION:
Receive and File
Submitted by: Approved for ubmission to
City Council
L?TL.
ROBERT L. HUNT
EXECUTIVE DIRECTOR
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