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2002 01 15 RDARedevelopment Agency Agendas are available on the City's Web Page Llu www.la-quinta.org Redevelopment Agency Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting Thursday January 15, 2002 - 2:00 P.M. Beginning Res. No. RA 2002-01 CALL TO ORDER Roll Call: Board Members: Adolph, Pena, Perkins, Sniff, Chairperson Henderson PUBLIC COMMENT At this time, members of the public may address the Redevelopment Agency on any matter not listed on the agenda. Please complete a "request to speak" form and limit your comments to three minutes. Please watch the timing device on the podium. CLOSED SESSION 1. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MARK WEISS, PURSUANT TO GOVERNMENT CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED EAST OF MADISON STREET BETWEEN AVENUE 58 AND AVENUE 60. PROPERTY OWNER/NEGOTIATOR: WINCHESTER DEVELOPMENT; AND REAL PROPERTY LOCATED WEST OF MADISON STREET BETWEEN AVENUE 60 AND AVENUE 62. PROPERTY OWNER/NEGOTIATOR: DAVIS CAPITAL MANAGEMENT; AND REAL PROPERTY GENERALLY LOCATED ON THE WEST SIDE OF JEFFERSON STREET, SOUTH OF AVENUE 52. PROPERTY OWNER/NEGOTIATOR: KSL NOTE: Time permitting, the Redevelopment Agency Board may conduct Closed Session discussions during the dinner recess. In addition, when the Agency is considering acquisition of property, persons identified as negotiating parties are not invited into the Closed Session Meeting. RDA Agenda January 15, 2002 001 RECONVENE AT 3:00 PM IV. PUBLIC COMMENT At this time members of the public may address the Agency Board on items that appear within the Consent Calendar or matters that are not listed on the agenda. Please complete a "request to speak" form and limit your comments to three minutes. When you are called to speak, please come forward and state your name for the record. Please watch the timing device on the podium. For all Agency Business Session matters or Public Hearings on the agenda, a completed "request to speak" form must be filed with the City Clerk prior to the Agency beginning consideration of that item. V. CONFIRMATION OF AGENDA VI. APPROVAL OF MINUTES 1. MINUTES OF JANUARY 3, 2002. VII. CONSENT CALENDAR - Note: Consent Calendar items are considered to be routine in nature and will be approved by one motion. 1. APPROVAL OF DEMAND REGISTER DATED JANUARY 15, 2002. 2. TRANSMITTAL OF TREASURER'S REPORT DATED NOVEMBER 30, 2001. 3. TRANSMITTAL OF REVENUE AND EXPENDITURE REPORT FOR NOVEMBER 30, 2001 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING DECEMBER 31, 2001. 4. CONSIDERATION OF FINANCING AGREEMENT BETWEEN LA QUINTA REDEVELOPMENT AGENCY AND THE CITY COUNCIL OF THE CITY OF LA QUINTA FOR PARK IMPROVEMENTS TO THE CIVIC CENTER CAMPUS AND ADOPTION OF A RESOLUTION MAKING FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445. Vill. BUSINESS SESSION 1. CONSIDERATION OF A PROPERTY MANAGEMENT FIRM FOR THE LA QUINTA RENTAL HOUSING PROGRAM A. MINUTE ORDER ACTION IX. PRESENTATIONS - None X. STUDY SESSION - None RDA Agenda -2- January 15, 2002 XI1. CHAIR AND BOARD MEMBERS' ITEMS XIII. PUBLIC HEARINGS XIV. ADJOURNMENT - Adjourn to a Regular Meeting of the Redevelopment Agency to be held on February 5, 2002, commencing with Closed Session at 2:00 P.M. in the City Council Chambers, 78-495 Calle Tampico, CA 92253. DECLARATION OF POSTING I, June S. Greek, City Clerk of the City of La Quinta, do hereby declare that the foregoing agenda for the La Quinta Redevelopment Agency meeting of January 15, 2002, was posted on the outside entry to the Council Chambers, 78-495 Calle Tampico and on the bulletin board at the La Quinta Chamber of Commerce and at RDA Agenda -3- January 15, 2002 0 0 � tJ v Stater Bros. 78-630 Highway 1 1 1, on Friday, January 11, 2002. DATED: January 11, 2002 JU . GREEK, C M C City Clerk, City of La Quinta, California PUBLIC NOTICES The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7025, 24- hours in advance of the meeting and accommodations will be' made RDA Agenda -4- January 15, 2002 COUNCIL/RDA MEETING DATE: JANUARY 15, 2002 ITEM TITLE: Demand Register Dated January 15, 2002 RECOMMENDATION: Approve Demand Register Dated January 15, 2002 BACKGROUND: Prepaid Warrants: AGENDA CATEGORY: BUSINESS SESSION CONSENT CALENDAR % STUDY SESSION PUBLIC HEARING 47899 - 479171 15705.00 47918 - 479191 1345745.37 47920 - 479261 66,305.70 47927 - 479401 705857.17 47941 - 479481 145420.48 Wire Transfers} 205456.51 P/R 8113 - 81781 109,857.66 P/R Tax Transfers} 315456.32 CITY DEMANDS $732,366.67 Payable Warrants: 47949 - 480321 54%031.33 RDA DEMANDS 2665468.87 $9985835.54 $998,835.54 FISCAL IMPLICATIONS: Demand of Cash - RDA $2669468.87 I Falconer, Finane� Director 005 CITY OF LA QUINTA BANK TRANSACTIONS 12/27/01 - 1/09/02 1/04/02 WIRE TRANSFER - DEFERRED COMP 1/04/02 WIRE TRANSFER - PERS 1/04/02 WIRE TRANSFER - CREDIT UNION $5,165.80 $10,368.71 $4,922.00 TOTAL WIRE TRANSFERS OUT $20,456.51 0 00 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 08:45AM 01/09/02 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK NUMBER CHECK DATE VENDOR NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** PAYMENT AMOUNT 47949 01/09/02 &01610 HARRY S RINKER 100.00 47950 01/09/02 ABL001 ABLE RIBBON TECH 122.23 47951 01/09/02 ACT100 ACT GIS INC 1360.00 47952 01/09/02 ADT100 ADT SECURITY SVC INC 341.91 47953 01/09/02 AGS100 AGS THE SPANOS CORP 217723.00 47954 01/09/02 ALL100 ALLIANCE SERVICE STATION 562.10 47955 01/09/02 AND050 ANDY'S AUTO REPAIR 425.80 47956 01/09/02 ARC100 ARCH 450.74 47957 01/09/02 AUT030 AUTOMATED TELECOM 300.24 47958 01/09/02 AVA100 AVAYA INC 1215.78 47959 01/09/02 BER150 BERRYMAN & HENIGAR INC 3809.00 47960 01/09/02 BI0100 BIO TOX 228.10 47961 01/09/02 CAD010 CADET UNIFORM SUPPLY 207.39 47962 01/09/02 CAL240 CALIFORNIA POOLS & SPAS 330.00 47963 01/09/02 CDW050 CDW GOVERNMENT INC 11987.82 47964 01/09/02 COA071 COACHELLA VALLEY PRINTING 127.95 47965 01/09/02 CON010 CONRAD & ASSOCIATES 3875.00 47966 01/09/02 CON015 CONRAD BUSINESS SVC INC 3910.00 47967 01/09/02 C00300 VALI COOPER & ASSOC INC 15400.91 47968 01/09/02 COR010 CORONA CLAY COMPANY 3386.25 47969 01/09/02 COR150 CORPORATE EXPRESS 76.28 47970 01/09/02 DEA200 DEAN SECURITY SAFE CO 904.92 47971 01/09/02 DES018 DESERT ELECTRIC SUPPLY 1581.74 47972 01/09/02 DES060 DESERT SUN PUBLISHING CO 3758.30 47973 01/09/02 DES210 DESERT ROCK SUPPLY INC 273.59 47974 01/09/02 DES400 DESIGN AND CONSTRUCTION 58.86 47975 01/09/02 DFM050 DFM ASSOCIATES 43.00 47976 01/09/02 DIE050 DIETERICH POST 206.71 47977 01/09/02 DRU100 DRUMMOND AMERICAN CORP 422.87 47978 01/09/02 ELM100 ELMS EQUIPMENT RENTAL INC 207.51 47979 01/09/02 EXP200 EXPRESS DETAIL 885.00 47980 01/09/02 FED010 FEDERAL EXPRESS CORP 776.73 47981 01/09/02 GUY100 GUYS & GALS UNIFORMS 39.27 47982 01/09/02 HAR100 JOHN HARDCASTLE 28.16 47983 01/09/02 HEN050 TERRY HENDERSON 318.45 47984 01/09/02 HIG010 HIGH TECH IRRIGATION INC 47.11 47985 01/09/02 HOM030 HOME DEPOT 669.75 47986 01/09/02 HOP050 BOB HOPE CHRYSLER CLASSIC 2250.00 47987 01/09/02 INT014 INTERNATIONAL COUNCIL OF 150.00 47988 01/09/02 JIF100 JIFFY LUBE/AFMS 32.50 47989 01/09/02 JPRO10 JP REPROGRAPHICS 99.82 47990 01/09/02 KIN100 KINER/GOODSELL ADVERTISNG 4101.77 47991 01/09/02 KLE100 KLEIN & CLARK SPORTS PROD 2500.00 47992 01/09/02 KRI100 BRUCE KRIBBS CONSTRUCTION 3750.00 47993 01/09/02 KUS050 KUSTOM SIGNALS INC 26061.74 47994 01/09/02 LAQ040 LA QUINTA CHAMBER COMMERC 41500.00 47995 01/09/02 LCC100 LCC-RIVRSIDE DIVISION 100.00 0 0'�7 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 08:45AM 01/09/02 CITY OF LA QUINTA BANK ID: DEF PAGE 2 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT 47996 01/09/02 L00010 LOCK SHOP INC 465.50 47997 01/09/02 LUN050 LUNDEEN PACIFIC CORP 45523.67 47998 01/09/02 MUN100 MUNICIPAL MANAGEMENT 50.00 47999 01/09/02 NAW010 RON NAWROCKI 1000.00 48000 01/09/02 NIC101 NICKERSON & ASSOC INC 5286.00 48001 01/09/02 OFF005 OFFICE DEPOT INC 680.42 48002 01/09/02 PAR003 PARAGON SIGNS 309.06 48003 01/09/02 PER010 RONALD A PERKINS 26.75 48004 01/09/02 PIT010 PITNEY BOWES CREDIT CORP 1366.00 48005 01/09/02 PIT020 PITNEY BOWES 280.65 48006 01/09/02 PRI020 THE PRINTING PLACE 507.40 48007 01/09/02 PUB175 PUBLIC SERVICE SKILLS INC 100.00 48008 01/09/02 RAL050 RALPHS GROCERY CO 108.80 48009 01/09/02 RAN100 CITY OF RANCHO MIRAGE 54.00 48010 01/09/02 RAS020 RASA - ERIC NELSON 915.00 48011 01/09/02 RIV080 RIVERSIDE COUNTY HEALTH 3245.00 48012 01/09/02 RIV110 RIVERSIDE COUNTY SHERIFFS 2980.80 48013 01/09/02 ROS010 ROSENOW SPEVACEK GROUP 37030.87 48014 01/09/02 ROT100 ROTO ROOTER 30.00 48015 01/09/02 RUI100 JOHN RUIZ 15.56 48016 01/09/02 SAX100 SAXON ENGINEERING SERVICE 2450.00 48017 01/09/02 SKI100 DAVID SKINNER 150.00 48018 01/09/02 SOCOlo THE SOCO GROUP INC 30.78 48019 01/09/02 SOU003 SOUND IMAGE 21223.42 48020 01/09/02 SOU007 SOUTHWEST NETWORKS, INC 2016.10 48021 01/09/02 STA010 STAMKO DEVELOPMENT 36043.26 48022 01/09/02 STA020 STANDARD REGISTER 292.39 48023 01/09/02 STA050 STAPLES 70.32 48024 01/09/02 SUN075 SUNLINE TRANSIT AGENCY 262.00 48025 01/09/02 TER100 TERRA NOVA PLANNING & 14193.13 48026 01/09/02 TKDO10 T.K.D. ASSOCIATES INC 356.63 48027 01/09/02 TOL200 TOLL BROTHERS INC 3837.43 48028 01/09/02 TOP010 TOPS'N BARRICADES INC 1325.75 48029 01/09/02 TRI100 TRI STATE LAND SURVEYORS 7220.00 48030 01/09/02 TTI100 TTI NATIONAL INC 7.86 48031 01/09/02 WAL010 WAL MART COMMUNITY 236.90 48032 01/09/02 XER010 XEROX CORPORATION 2631.58 CHECK TOTAL 549,031.33 00,0 004 Qz rI r N M N C Ln l0 r OD M O� u: H O z N O rn O ,-, U c r ao r r r r r r r v, r 0 w CD as H a W 0 4 H 0 -1 F 0 -1 F 0 4 H 0 -1 H 0 -1 H 0 .-1 F 0 -1 F C. -1 F 0 rl F 0 _q H 0 -1 F 0 --4 H c r-I •• ao F O 0 M N O 0 v' -4 r r O 0 0 -1 O OD C' r O 1n VT r OD r O 0 0 z W H z O O O N N O �r O O M N N lD 1n N O 1n N 1b r 4 1 0 �+ O N -1 r al N N O a N O O M N O O .--1 Ol O O O '-i O m C' r V' N oD r a Z O O -4 N N •-1 O M .--1 a W M U M N r N I'D 1n Un N c O 1n c O O (n (V w > r-+ z a r -1 � O H W N x U H U) H z x U a a a a w U a a U > a < a a a cn w a a a s a a w a z a a > z o z H o H O z a H O cn H z O O H O (n a F o a F a4 o H O O F x 0 a H 0 m W U r-1 H rs .l F H H U) H U x Ix H H H F x U H w F a U H U a H + O H x U 1-1 O a H a rz O w D: 0 1-1 co a O > a a a U 0 x a 0 z M W. 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NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 47941 01/07/02 ATT075 AT&T WIRELESS SERVICES 180.81 47942 01/07/02 BIA013 BIA - DESERT CHAPTER 58.00 47943 01/07/02 COA080 COACHELLA VALLEY WATER 1659.38 47944 01/07/02 IMPO10 IMPERIAL IRRIGATION DIST 11213.07 47945 01/07/02 LAQ040 LA QUINTA CHAMBER COMMERC 252.00 47946 01/07/02 PAL005 CITY OF PALM DESERT 60.00 47947 01/07/02 SOU010 SOUTHERN CALIF GAS CO 965.35 47948 01/07/02 VER200 VERIZON 31.87 CHECK TOTAL 14,420.48 ) z O H Z N O r O U 0 (w.7 Q a a rn r-1 � H Z H w z �+ 0 a a z O w H a O H > a H U) w U) W 44 O W z z H Z H x z a r.0 w w w a O O w H a W GU z H z O U U a (M O O a i a a z CQ >4 a a x a �C O a z H Lc+ W z O > O C) U N M sT r♦ U-) 110 r m m O r-1 N m H -1 •--1 r-1 V• Ln l0 r m m O '--4 r-1 ri ri .--1 '-1 N H N N N x x x x x x x x x x z x x x x x x x x x x x W W W W W W W W W W W W W w w W W w W W W 14 H H E+ H H H H H H H H H H H H H H H H H E-H E'-F Ln O 1.0 O M Ln -4 m r1 N 00 ri w O O O O O O O O Ln OD m I O T O) lD Ln OD ' q ri r4 lD O O O O O O O O (n CV r-1 l0 m N lD lD M 0l r M O N 10 m m m m 10 m O L� m M U) In M N N to N M N H M N H ri H r 1 M 'I lD \0 M M N Ln lD V' -1 N 1-4 a) r-1 r-1 r-1 r 1 o m r O o m 0 M O 0 0 O OD Ol (M N U' O m In U') H ur) z ri l0 N N H r-1 H H H W W U U U E U) U) U) > C) H w w w a z a a a a Q a z z z a 11 a a a x x x x x x x a r>r O O O H H H H U U U U U U U H U U U U U U U H >+ E-+ x x x O w 0 O > > > > > > > O z z z z z z z 0 H O a s a, H w H H w cn cn cn cn 0 w H a 0 0 0 a 0 0 H z E-H U U a a a a a a a U w cn cn a 1% >> x U U U U U U U a a a U) U) m O *4 O Cl) U) O H H FA H H H H O U) U) U) m U) m m O > O U W W w 0 0 0 rz cx a a a a 0: 0 - - - - - - - 0 H M > a a a z � z cz z z HHHHHHHZ a cz oz cz cz cY. C� z z z U) w w w w W W w w w U U U U U U U w O O O O O O O W w Qx a a> z> H H> w w w w w w w> U> U) H F1 F-1 W < < r7 .4 .4 a a a a a Fll 3 3 3 U 3 3 w W W w W w W x E a V' lD M V' O r M U) Ln ;r �,D M (M U) U) U) U) U) to 0 %D r- m r M M O O O O O r w Ln Ln IP) -cr 0 0 O O O O O r o N c) M Ln N N H 1-i F-1 H H N N 01 lD lD M r r CL z Z a z M M 110 r r N O O rC < < < ::C V' u) (N (N N M a) a') > > > > > r♦ ri O O O O O N N l0 110 110 O m M l0 I'0 110 O lD l0 Ln an Ln r ri -1 M m M ('') (`') M I'D kD %.D k.0 M ('M M r 1 V' V' Ln Ln Ln O In In H H r1 ri r-1 ri H 1-4 O O O O O O r-1 r-1 r-1 -1 ra H U) U) U) x rz w w w w w H H FA W a a 3 3 a s o>4 a U) U) U) x W W U a a ) cii � H Q w W W a > > w W w U) < a H H H Q a .a-1 3 3 3 W W i x x Iz � a 4 a Ha O O <H < m r r r r-1 m m 0 0 0 0 0 0 < < < 00 U � O m N M lD N O 0 H M W W M o O w 110 �.0 1.0 110 O r r r r r r r N N N N N N N 1 M V V' V V V r U-) Ln to in to in If) c c c V' V' a• M O O O O 0 O 0 1-1 r-1 ri 1-4 r-1 ri 1-4 H H H H H H E+ U) V) U) U) U) V) U) o Q Q o 0 0 0 O O O O O O O H H H H H H H Cal Cal Ca.7 Cal Cal Ca.7 Ca.7 a z a a a z a H H H H H H H a a a a a a a z a a a z z a a a a a a a a H H H H H H H Cl O O O O O o r-1 r-1 r-1 H r-1 H r-1 0 0 Cl 0 0 0 0 a a a a a a a x x H H x H x F-1 x " x x H H O O O O O O O O O 0 O O O O O O O Cl O O O r r r r r r r M M M M M M M N ri ri ri H r-1 ri O uo O Ln Ln O Ln ri r+ N N M c V r-) r-1 1-1 1-1 -1 r-I ri O O O O O o O H H ri r1 H H r-1 a a a a a a a 0 0 0 0 0 0 0 U U U U U U U W W W W W W W x x x x x x x U U U U U U U H H H H H H H z z z z z z z a a a a a a a a a a a a a a O O 0 Co O O O -CT IT V• IT c a vT a a a a a a a O 0 O r M lD r�1 O ri ri O H E-H a W U) W C] a a a w O H H U N O O a At a 0 U U) C7 44 H a U z x W x H a 0 U) O r-1 0 0 O U) O� Y 017 z M • N O H z N O r O \ N x Cl W E+ £ U Q tz1 a a rn .. r m .-+ H m Q Z H W z .+ O x a M N >1 O a � a Ln r fM 00 rn H 0 H H z � w w Q 0 a z H z H a O 0 0 W H H z H U H 0 H a4 O H O H O CY. C] r> z U z C7 z H (n W H w w > a > I o a cn H C] W FJ4 H U W FC H 0 a a O W N I > fYl o W z z x m H Z r O C] r H H x � z w rtr m w w rz 1 0 0 w E+ R: N W M Oq � a � z rM E+ z Q x LO O Q U U � O M O O a Q I W E- a z m H z a a 0 >-4 a N � a H a r,r O cx a Q w cn z H r..4 w z 0 > o M o O >+ N U H fZ U 0 9 ,-� 4w 018 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 10:33AM 01/04/02 PAGE 1 PAYMENT AMOUNT 47927 01/04/02 BAX100 DAN BAXLEY 47928 01/04/02 CAL040 CALIFORNIA VISION SERVICE 47929 01/04/02 CAN050 CANADA LIFE ASSURANCE CO 47930 01/04/02 DIA100 DENISE DIAMOND 47931 01/04/02 GUM050 BRAD GUMMER 47932 01/04/02 LAQ050 LA QUINTA CITY EMPLOYEES 47933 01/04/02 LOU100 ELSE LOUDON 47934 01/04/02 MAD100 MADISON DEVELOPMENT 47935 01/04/02 PRI050 PRINCIPAL MUTUAL 47936 01/04/02 REY050 ELAINE REYNOLDS 47937 01/04/02 RIV040 RIVERSIDE CNTY DEPT CHILD 47938 01/04/02 SHA040 ROSITA SHAMIS 47939 01/04/02 UNIO05 UNITED WAY OF THE DESERT 47940 01/04/02 UNU050 UNUM LIFE INS CHECK TOTAL 50.00 938.28 539.43 50.00 500.50 416.00 50.00 23737.50 41852.84 50.00 426.50 50.00 164.00 2032.12 70r857.17 02 019 z r-1 r l0 N m .--1 M O c' Ln qzT N Lr) H O z N O c O O U Q W a) rn ) 0 m w W Ol 0) W W Ol rn 0) w W a rn W F F F H H F H F H E4 H H H N O H wz p O p pp N Co M v' Ol O O O O o O O O O O In r tb O 1n W r r O O O ul O l0 N O o O Ln > Q a O in M rn M un ur) O Lrn -4 17 LO M r M N O', Irn r M Lr) N d O O m N M C O O O In O O O O O In v Qo O 0 O U') p C7 In z Co lM rn Cl M O U' LO z O O tr) O l0 Q e i O C7 In z r ('1 r N In w O 0 ul z Q l0 N > v, U' z E Q M N -+ c F 2: F 1 LL H 00 O w U O 0 U) z 0 P4 z a r-1 F F o cn H F Q o F H H cz o Q F F 0 0: F a F 1 0 H H H x 0 H w H cn O FC F U) z F o cn H H H a o Q E-4 C7 F 1 o F F a �C " o a a a s o Iz-+ a z 0 a 0 a rz a 0 H 0G � 0 x 0 a x 0 U z � 0 H a a 0 a U: a 0 w a o z H U (n w :) z E-H w a > o z " W cn > \ z W W L-. > =) z F W a > z z H w cn > Q z w x > ::) z H w a > a z w H > U H o Q z F W z > D z F W a > Q z W oG > Q H a U) Q O U H > H a a U z r \ a U a FC w E w Q U \ a a U W Lu U W " Q 0 m w ' + o O FC �,' c ' + o 0 -+ o 0 ,-+ I 0 -4 1 0 0 0 0 0 N > I H Q H > H 07 D z N U w m O .-+ r Lr) N U W N U W r M r M N U w U w Q H `.4 o co Q Q z z Q Q Q z a < m w oa z 1 O o w F rx o 0 0 o N o 0 0 0 0 0 0 0 w uq o o o 0 O 0 o o 0, Ln o o 0 0 0 0 0 O o o O 0 o 0 O 0 Q z rn O Ln ur) M N r (M N rn O Lr) rn o � M N N rn 0 Lr1 0 In OD M N M M N O N N N O Ln E-H z p O •-1 Un N O o o o o O IH ur) N rM In N O o O N O r1 r O 0 O o O o •-4 In N O O O � u-) N U Q o '-I O -4 O 0 0 0 1-4 0 .--1 r N O 1-1 o -1 0 -4 0 ri 0 r-1 W U H O U U) W Q a 1i > a w w x U U)z a z a o 0 0 ~n w E a M s a o a c > ca n o H o W O >+ z ►-+ < W E...1 >+ W Q 1--1 w H H W E U < O Q W Q a s > w U w a z aC a a x 4 z cx O a FC Q w 0 C7 E-H z 1-+ D o a z O << a H s H a w O 1-+ to U) Q a � a x m t� Q Q U)0 H Q a w a U) H Q U z a U z s z H a x w � H H 0 s Un o z < Q U o Cl 0 -IT 0 Lrn 0 0 O In o Ln 0 o 0 o 0 In 0 In 0 LO 0 cr 0 a• O H •-1 Q o Q O H O O r-1 o '•-1 " O a a O s s O W z CD H zco o x 0, ,» Q 4 O .-1 O m N CL4 O O O N O O i O C N a to l0 M rC O H �+ N O r•C H 3 H 0 z w w H � z H O H H a O O I O co O W H H H z H U H N H O H O m 0 0 0 > 0 H 0 z U z 0 z a z H U) W w W w > a > 0 > I 0 H cn a, U Q W 44 H U W o rC H 0 CY, C7 C4 O W d > I > CO l0 W z z E 0i ao H z M O C] O H H x z m w ao rx O o w H x 0 0 W 0 0 pq 0 0 E a Ln 0) z N M N N H z O O a 0 0 O o 0 U U Q 0 0 .-a � H a w w 0 M 0 w o x u) H a � w � o z I H Q � W H rtr W a z 3 w GQ H H 7+ O w a, O H O a 0 z z cn z H Gu W z O > Ln 0 D O �n o >4 0 0 U H H O < U D l 021 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 1:31PM 01/02/02 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 47920 01/02/02 CAL149 CAL CONE ZONE INSTRUCTORS 1050.00 47921 01/02/02 COA080 COACHELLA VALLEY WATER 49.09 47922 01/02/02 IMPO10 IMPERIAL IRRIGATION DIST 3480.27 47923 01/02/02 PUR100 PURKISS ROSE-RSI 46795.00 47924 01/02/02 ROD100 MOISES RODARTE 300.00 47925 01/02/02 ROT100 ROTO ROOTER 9153.00 47926 01/02/02 RUT050 RUTAN & TUCKER 5478.34 CHECK TOTAL 66,305.70 U 022 z 11 N H M N M V' U') m O C' Ln lD r cc) --� ri ri •--i --1 r-1 O F Z N O N O U C7 U C7 C7 (D C7 CD 0 (D C7 U U U' (D U OW F E E E ZMEXX E E E E E E E U < W W w W W W W G] w W W W W W W E< m F EF F F F F F H F F F F+ F F F a a 0 N • O O 0) CF) GO H O O O O O O 0 IT O ri F O O O N ri 4 M M O O 0 Ln 0 Ln M r Z F w z O O O\ Ln CD M V' 04 Ln O r1 Ln 1- Ln C0 L� O O LO C' ri CD m •-1 N m o Ln N Ln N r O >+ O r r M O u-) O Ln c M N lD M ri M '-1 U-) a d O rn r 0 0 0 O O N O O O M 0 01 O O m O ri N M C1 rl al V OD Ol O b0 0) Ol Ol Ln r Q cn vn o yr r M —1 v E-H (n (n , 4 M lD a a a a 01 0 Q Q c M M O O F ,-1 a I I I I U U x x x x F >1 >+ O O O O W F F x x x x W w a a a a w a a a w w Q Q Q Q U Q a s tx Cx z Q< F F U U U U U F F z H W W W W F X F a O to cn O O > > > > > O z 0 r.> 0 3 3 3 S 0 < 0 W H F F Cn Ul F U H > F W W W W F F F U F W W U H Q m m m m "OW z z a > a U U U U U rx ma a x a w Cx 0" O O O cn O H H H H H O W O O ❑ ❑❑❑ O m O > Ix N N❑ ❑ a a a z Cx ❑ ❑❑ a❑ 0 0 0 O❑ H❑ z U z a z H F F F F z z w z E E E i z w z H (n x x W W W U U U U U W x W W w \ W W a a> ❑ 00 a a a a a a Q a 0 0 0 0 (D U) 3 3 w w w w w a F a a a a a ❑ W [J4 H OD a hU1 o a m N m m m m O W M m O O a O r r r r U-) > 1 > W O m O O O O r r r r c w z z E hl Ln H H H H M m m m m r W H ❑ F1 M w O a' z z z co m m 01 m Ln I H z < O < < Q < v' O O O O Ln O (] > Ln > > > > m NNNN M F H x Q z a rC oa W w a 1 O 0 w E-H z O O N O O 01 N C O O O O O O O w O O (Y) O 0 ri M l0 O O O O O O O CO O 0 lD O O lD lD lD O O O O O O O M r r ri r r r r r Ln M o 0 0 o r-+ z (M (M M N N N N N 0 M r r r r O lD lD lD lD lD lD l0 lD lD r-) lD l0 lD lD lD H z M V' T M M T VT - T V' O (Y) M M M •-1 O Ln U') Ln u-) Ln Lr) Ln Ln 0) O O O O O 0 O V C' c l0 O 0) m U U u ) Ln u ) Ln r-I rtr O O O O O O O O O 0 ct c ct c O -4 ri H ri r-I ri ri --1 V' ri N N N N ri U) Cn z C4 F F F F F O 0 cn cn E-H F U U W ❑ ❑ ❑ ❑ ❑ O O F M H H 3 00000 0 (n Cn H H H H H o z z >+ F F H F F Ln H H W U) a a c� U U U Iz w a (� w w H H H H H I F W z z a a a a a w z x I O O > W. a a Ix o: U) r> a z 124 z U N N H H H H H W H a z O H H H H H a z w w a a .a a a a Cx 0 0 0 0 m H z z U) 0 0 0 0 w (Z 0 O w H H H H H (n Cn z w tx tx >+ a U U x z z x a x H w z < a U w w w w w x (n 0 0 0 0 a a �C O a s < a w u, w w x H F F F F F a ❑ Q a O x E E x x ❑ O 0 0 0 0 M Cn z U U U H H H H H a a a a x a F Ga W z 0 > m m 0 0 0 0 0 0 0 0 0 0 0 0 0 M 'r v oo ,-I ri r4 ri ri o 0 0 0 0 o Ln 0 O O O O O 0 1-4 H ri ri ri .-+ O O F .a ] < a a a a a a ❑ F F F F F U H r> O E E E E E O O O O O O M Q U U U U H H . H H a (x a z 0: Ix �. 0 Ir 023 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 47918 12/28/01 DCT100 DC & TC LLC 47919 12/28/01 VER200 VERIZON CHECK TOTAL 08:36AM 12/28/01 PAGE 1 PAYMENT AMOUNT 134698.00 47.37 134,745.37 0,, 024 z N a O H z 1-4 N 11 x N U C7 C7 0 W w m H H N •• O r r N H O M M O z H W z oo r Ln E O m c c >+ O 110 r a M V O r -+ O M a O� r �l U) to H H v O a M H Q H a z O w z a a w < < Q `� a o 0 0 W H U) H H U H W U a a a > a O H O O U) O > a a 0 0 rz-1 Cl) < w z w w a > O > I 0 H x U) a 0 U W r>r " 0 a a O w > 1 > to w �I H 0 H 'J Ln H z r O � x �C z a r.0 CQ w co a 1 O O 44 H a O O w r O CQ O E 0 Ln Ln z O rl) H z M M :D 00 U-) O U U Q O O M O O a I U Q a W H .a a z PQ H U z rC D H O a O a �7 C] U W U) z O > H 44 W z O > O Cl a O O O > 4 •--4 N O{,w y 025 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 10:08AM 12/27/01 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK NUMBER CHECK DATE VENDOR NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** PAYMENT AMOUNT 47899 12/27/01 &01609 ANTONIA GUEVARA 680.00 47900 12/27/01 ABE001 JACQUES ABELS 75.00 47901 12/27/01 BECO10 DEBORAH BECHARD 50.00 47902 12/27/01 BOB100 BILL BOBBITT 50.00 47903 12/27/01 BOU100 MICHELE BOUDREAU 50.00 47904 12/27/01 BUT010 RICHARD BUTLER 75.00 47905 12/27/01 CUN100 DENNIS CUNNINGHAM 50.00 47906 12/27/01 DAV010 MIKE DAVIS 50.00 47907 12/27/01 KIR010 TOM KIRK 75.00 47908 12/27/01 LEW010 TOM LEWIS 50.00 47909 12/27/01 MAH100 CYRILLE P MAHFOUD 50.00 47910 12/27/01 MOU100 DONALD J MOULIN 50.00 47911 12/27/01 OLA100 MILTON OLANDER 50.00 47912 12/27/01 OSBO50 LEE M OSBORNE CPA 50.00 47913 12/27/01 REB050 JOAN REBICH 50.00 47914 12/27/01 ROB150 STEVE ROBBINS 75.00 47915 12/27/01 STJO10 VICTORIA ST JOHNS 50.00 47916 12/27/01 TH0200 DAVID THOMS 50.00 47917 12/27/01 TYL050 ROBERT T TYLER 75.00 CHECK TOTAL 1,705.00 30 026 z rH N Ln co Ln r O N 0) ri •-1 r•i e-i r-1 H r-1 O H z O r N \ � N x U C7 C7 U' C7 C7 C7 U U` U' U C7 C7 U W E+ x E x x E E E E x x (D W W W W W W W W W W W W W g a W H EF H H H H H H H H H H H Q rn 0 0 0 0 0 0 0 0 o O o o O rn H o 0 0 0 0 0 0 0 0 0 0 0 0 o z H 41 z O o O O O O O O O O x o 0 0o r Ln Ln Ln r uO Ln r Ln Ln Ln } 0 M M Q a Co 0 0 0 0 0 0 o O o 0 0 o O o 0 0 (D o O o 0 o o H o o Ln H o o Ln cz o rz o a �+ >+ w r (7 Ln U) u) (D Ln r U) Ln 0 Ln r < Ln r> Ln H H H 0 H 0 H a) fn [Y1 >4 U U p+ E CD a E C7 CL CY. cz < a z Q z < z O o O Lu 44 H O U O H U O H U) co U) \\ E U U) U E m U x F-1 H H H H a a a 0 a a a 0 a a a > ..a > a > H H a x H K E-H > H x H < H > H x H < H < H Q 0 0 0 0 00 U) O a o cn o 00 a o cn o 0 0 0 0 W H a a H U E-H H \ H H U H \ H H U H H H H H H U E-H W W >+ H >+ H >+ z z z H a H z U (Z H W. 0 Z U cZ E-+ a' 0 z w a: W z W 0" O z 0 �-+ O w 0 �-+ O z 0 W O F-+ O z 0 x 0 E O E > z 0 0 0 H 0 z 0 H 0 z O H 0 H O z 0 H 0 H 0 H 0 H z U z z z z z O z F-+ z a z z z H z O z z z U) z U) z U) H U) z a w z W x W x w x w z w x w x W z W W W W W W w EX4 Gu > < > x > U > x > < > U > E > < > > > > > > 0 W W a O z O a z O a z z z U) a z a U I > CQ N N N N N N (N N N N N H H =) U U U U U U U U U U U H z w W w w w W w W w W W 0 0 O 0 0 0 0 0 0 0 0 0 H x < z a < w w m c� I O o w H cz o r o 0 0 0 0 0 0 0 0 0 0 w o Ln o 0 0 0 0 o O o 0 0 0 W o v o o O O o 0 0 0 0 0 0 M 0 rn rn rn rn o, rn rn rn rn rn rn z M O o o O O O O o O o O N V' in Ln to to Ln to U') to Ln H z O O -a -4 + r i H H O O O Ln o Ln o O Ln O Ln Ln L) 0 0 o c•' N U U i -+ r-4 < o 0 0 0 0 0 0 0 0 0 0 o O ri e-4 r-A r-q r-A 4 1-1 .-A r-A -A -4 -4 r 1 (M 0 ��.. a W 0 O H a w PQ4' w H a F ix.� o w H o 0 w o 0 c0 rC u w w H w O w o cn z z o cn E m H �� < H Q H U) w x �d O m W a 0 a U U) < ca a H 3 w W a 0 a �• Q x a< O z O H z O H M a U O m a a w x U Q x U H z z w x x E a x a H rx a Q z Ul z < Q h 0 fY) E z 0 x H H U 0 H Cz+ W z 0 > 0 rn 0 rn 0 o 0 r1 0 0 0 o 0 1-4 0 o 0 ri 0 r1 0 r-4 0 o o a o U F+ U H o r-4 O W W U W CQ O a O H 0 z a > < G] fZ H 3 W a x 0 f O �C U cq cal m cA U x E 027 z O M Q N r+ z 0 F z 0 r N N N x U 0 U u 0 U C7 C7 W F E E E E E E E C7 Q E4 W W W W W W w m F F F F F F F rn .. o 0 0 0 0 0 0 rn F o 0 0 0 0 0 0 o z F W z o O O �n E 0 un Ln U-) r Ln Un r- >+ O O o 0 0 0 o O o 0 o O o O 0 0 0 o a o a o o Ln o H o 1n u, Q Ln < Ln c7 Un r CD un cn Ln c� 0 O z z w m m w z O 0 F O 0 O O U H H U E U a > a > a a a a D a H a 0< 0 U E F E H > F < F E F 0 0 0 0 U) o 0 0 U o a o 0 0 w H E• F F p E-+ F U F I- E. U E. " CL4 fz W Cz W fz F (z C7 cz F z U fz C7 cz O H 0 E 0 E o 0 z 0+ O W o z 0 > tz 0 F C] E+ 0 z 0 H z Ca E+ 0 H 0 z U z z U) z O z 2 Z O z �- z z z H Cf) w W W W W E W z W E W x F4 z w > > > > a > > � > a > z z O O H H U w U < a+ W Gu U W H n a o O O O o 0 0 O 14 0 0 0 0 0 0 0 > I m N N N N N N N iz-+ 0 H a U U U U U U U H z w w w w w w w o Q 0 0 0 0 0 0 H x �C z a < m w m cz 1 0 0 w H a; o 0 0 0 0 0 0 (,a O O O 0 o O O CQ O O o O o O O E a rn rn rn rn rn rn rn z o 0 0 o O o 0 Ln uO Ln Un Ln Ln Ln F z -+ o Ln a') Tn o un O O O ri H N Q N d' C U r> O O o o O o 0 M o r� o a z U a C4 O cz �' a o z z 1 U) r� rt O U m E F W co o x z o U) w FC F m H O W cz H F a E 43 E- W a z > a s a 0 a w Q w U > m o U) z E a ai > a F 44 W z 0 z > 0 o 0 Lr) 0 0 an 0 -4 0 0 o Ln 0 }4 . 1 o O O N o a on w o 0x U H U) H < U O O Cz m U) E- F 0 0 O r-+ a Q F 0 F F z W E a 03 O :� V A/P - AP6002 CHECKS TO BE VOIDED 10:29AM 12/21/01 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME INVOICE DESCRIPTION 47459 DEF 11/20/01 150.00 SUP100 SUPPORT PAYMENT CLEARING- P/R Distr.-GARNISH - SUP PAY C TOTAL VOIDED 150.00 03 029 T 6 0 4hf 4 4 Q" AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 15, 2002 ITEM TITLE: Transmittal of Treasurer's Report as of November 30, 2001 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of Treasurer's Report dated November 30, 2001 for the La Quinta Redevelopment Agency. FINDINGS AND ALTERNATIVES: I certify that this report accurately reflects all pooled investments and is in compliance with California Government Code Section 53645 as amended 1 /1 /86; and is in conformity with City Code 3.08.010 to 3.08.070 Investment of Money and Funds. hereby certify that sufficient investment liquidity and anticipated revenues are available to meet next month's estimated expenditures. espec*lly submj AM M. Faldonet, Finance Director A roved for Submission by: Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Redevelopment Agency 03zf ATTACHMENT 1 T6 0 6j 4t!t 4 QuMrA MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for November 30, 2001 DATE: January 2, 2002 Attached is the Treasurer's Report for the month ending November 30, 2001. The report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Dept. The following table summarizes the changes in investment types for the month: Investment Beginning Purchased Notes Sold/Matured Other Ending Change Cash $11943,453 (1) ($1,521,078) $422,375 ($1,521,078) LAIF $20,193,521 (2,500,000) 0 17,693,521 (2,500,000) US Treasuries (2) $62,834,278 45,000,000 (41,811,000) 289,079 56,312,357 3,478,079 US Gov't Agencies (2) $15,971,550 10,000,000 (10,000,000) (44,278) 15,927,272 (44,278) Commercial Paper (2) $0 2,000,000 (4,307) 1,995,693 1,995,693 Mutual Funds $10,999,334 1 1,891,764 9,107,570 1,891,764 Total $101 942 136 $57 000 000 $57 723 842 $240 494 $101 458 788 $483 348 I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. the City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. )hn M. Falconer nance Director/Treasurer 3 12-c) v 2�, Pate Footnote (1) The amount reported represents the net increase (decrease) of deposits and withdrawals from the previous month. (2) The amount reported in the other column represents the amortization of premium/discount for the month on US Treasury, Commercial Paper and Agency investments. 010 Uu, E 7 E x m E to 0 w to y c w E 105 C w O y N CL Y c O E o w o y E CM> cl E M 0 0 M n N 0-0 r C � aE o Z N Q y N 0 E to d Tm c � U 2 E v ai _ 0. 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N f �pN fO`1 N mAO� f ppN+ .Wn^ ppN N�1O/1 SY000^!N > vmima� 3> m0IM S} �^ rnrnaa °Daa O^A O xot PI N ^ m N N C E L co n p m N m 0 rn � o N N 01 'u c � n LLL C n h T O a CL" u p 5 � YIV MID J W.0 u T > U KUZ 0 o u Z u n w C yNi C go Y aw0 0/17 m,f1�� m NNN m f O p mnovi��a� � Pf A O A �AR Ci n rn N n y wy nuu n n w w y ny n y wy w I 'C CC, O � - rl ---- rli- ---il N M M N M M N N N N N N N > Y N4 V)(NC V1 N)a N _d O � U � `Y�vaXvavc` ,O 00 0 O �es 5aw Y Y � w' wi w c n wmm w0Dwmwm •mmNymNmVlm Vl� ' Hf77 V1�N 71A7 - < F Yd'Y1 O: mC m,^ nU��vfm�ma gN UUUL N N C E Cl 4 CITY of LA QUINTA BALANCE SHEET 11138MI ASSETS: CITY CITY RDA RDA FA FIXED LONG TERM FD(ED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL POOLED CASH 5,782,506.71 11,414,668.66 100,495.35 17.297,670 72 LORP INVESTMENT IN POOLED CASH 785.000.00 785.000.00 INVESTMENT T-BILL/NOTES & OTHER 37,980,000.00 37,980,000.00 AUTO MALL CASH LORP CASH 32.225.23 32.225,23 BOND REDEMPTION CASH 199.805.20 1,923.75 201.728 95 BOND RESERVE CASH BOND PROJECT CASH 44,401,955.74 548.733.82 44,950,689.56 BOND ESCROW CASH PETTY CASH 1,000.00 1,00000 CASH & INVESTMENT TOTAL 43,763,506.71 56,833,654.83 651,152.92 101,248,314.46 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 40,285.08 60.900.00 101.185.08 PREMIUM/DISCOUNT ON INVESTMENT (177,651.25) 388,125.00 210.473.75 LORP-ACCOUNTS RECEIVABLE 97.120.01 97.120.01 INTEREST RECEIVABLE (35,069.02) 565,607.73 530.538.71 LOAN/NOTES RECEIVABLE 13,489,653.69 13.489.653.69 DUE FROM OTHER AGENCIES 259,634.01 259.634.01 DUE FROM OTHER AGENCIES - CVAG 2,299,096.69 2,299,096.69 CVAG ALLOWANCE (2,299.096.69) (2.299.09 DUE FROM OTHER GOVERNMENTS 0.37 0..37 DUE FROM OTHER FUNDS 1,040,973.94 651,038.04 1,692,011.98 DUE FROM RDA 8,497,550.20 8,497,550.20 INTEREST ADVANCE -DUE FROM RDA 3,360,297.13 3,360,297.13 ADVANCES TO OTHER FUNDS 56,483.22 56.483.22 NSF CHECKS RECEIVABLE 3,326.01 3,. ACCRUED REVENUE 833.40 833833.40 FIXED ASSETS 20,711,742.00 20,711,742.00 ACCUMULATED DEPRECIATION 711,534.48 711.534.48 TRAVEL ADVANCES 2,742.29 2,742.29 EMPLOYEE ADVANCES PREPAID EXPENSES RECEIVABLE TOTAL 13,760,106.46 20,711,742.00 15,253,277.87 49,725,126.33 WORKER COMPENSATION DEPOSIT RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 2,100.00 DEPOSITS TOTAL 2,175.00 2,175.00 GENERAL FIXED ASSETS 9,988,279.05 9,988,279.05 ACCUMULATED DEPRECIATION AMOUNT AVAILABLE TO RETIRE LIT DEBT 3,395,117.03 3,395,1 i 7.03 AMOUNT TO BE PROVIDED FOR Lrr DEBT 951,847.65 80,866,860.97 7,750 000 00 89,568,708.62 TOTAL OTHER ASSETS 951,847.65 9,988,279.05 84,261,978.00 7,750,000.00 102,952,104.70 TOTAL ASSETS 57,525,788.17 20,711,742.00 951.847.65 72,086,932 70 9,988,279.05 84,261,978.00 651,152.92 7,750,000.00 253 927 720 49 LIABILITIES: ACCOUNTS PAYABLE 13.741.33 13,741.33 DUE TO OTHER AGENCIES 641,838.19 730.884.56 1,372,722.75 DUE TO OTHER FUNDS 273.804.01 1,892,521.72 2,166,325.73 INTEREST ADVANCE -DUE TO CITY 11,383,537.00 11,383,537 00 ACCRUED EXPENSES 16,468.50 16.468.50 PAYROLL LIABILITIES 9,133.80 9,133.80 STRONG MOTION INSTRUMENTS 2,075.76 2.075.76 FRINGE TOED LIZARD FEES 78.981.50 78,981.50 SUSPENSE DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 1,019,574.59 14,023,411.78 15,042,986.37 ENGINEERING TRUST DEPOSITS SO. COAST AIR QUALITY DEPOSITS LORP DEPOSITS 14,499.00 14,499.00 DEVELOPER DEPOSITS 875,112.94 875,112.94 MISC. DEPOSITS 439,148.65 439.148.65 AGENCY FUND DEPOSITS _1_,469,792.75 1 469 792.75 TOTAL DEPOSITS 2,784,054.34 14,499.00 2.798.553.34 DEFERRED REVENUE 387,604.00 11,378,904.00 11,766 508.00 OTHER LIABILITIES TOTAL 387,604.00 11,378,904.00 11,766,508.00 COMPENSATED ABSENCES PAYABLE 373,536.65 373,536.65 DUE TO THE CITY OF LA QUINTA 578,311.00 189,725.50 768.036.50 DUE TO COUNTY OF RIVERSIDE 10.989.847.00 10,989,847.00 DUE TO C.V. UNIFIED SCHOOL DIST. 8,747,405.50 8.747.405.50 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 64,335 000.00 7,750,000.00 72,085,000.00 TOTAL LONG TERM DEBT 951.847.65 84,261,978.00 7,750,000.00 92,963,825.65 TOTAL LIABILITIES 4,191,232.93 951,847.65 25,416,814.78 84,261,978.00 7,750,000.00 122,571,873.36 EQUITY -FUND BALANCE 53,334,555.23 20,711,742.00 46,670,117.92 9,988,279.05 651.152.92 131,355,847.12 TOTAL LIABILITY & EQUITY 57,525,788 16 20,711,742.00 951,847.65 72,086,932.70 9,988,279.05 84,261,978.00 651,152.92 7,750,000.00 253 927 720 48 0.01 (0.00) (0.00) 0.01 CASH & INVESTMENT TOTAL 101,248,314.46 PREMIUMIDISCOUNT ON INVESTMENT 210,473.75 V 4 Lr TOTAL 101,458,78821 T a 0 4ht 4 4 Q" AGENDA CATEGORY: BUSINESS SESSION: COUNCILIRDA MEETING DATE: January 16, 2001 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: PUBLIC HEARING: Transmittal of Revenue and Expenditure Report for November 30, 2001 and Investment Summary Report for the Quarter Ending December 31, 2001 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: Transmittal of the November 30, 2001 Statement of Revenue and Expenditures and Investment Summary Report for the Quarter Ending December 31, 2001 for the La Quinta Redevelopment Agency. Respectfully submitted, #Jonalconer, Finance Director A proved for submission by: Thomas P. Genovese City Manager Attachments: 1. Revenue and Expenditures Report, November 30, 2001 2. Investment Summary Report for the Quarter Ending December 31, 2001 043 ATTACHMENT 1 LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO.1: DEBT SERVICE FUND: Tax Increment Allocated Interest Non Allocated Interest Interest Advance Proceeds Transfers In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: Pooled Cash Allocated Interest Non Allocated Interest Litigation Settlement Revenue Bond Proceeds Transfers In TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: Tax Increment Allocated Interest Non Allocated Interest Miscellaneous revenue Non Allocated Interest LQRP-Rent Revenue Home Sales Proceeds Sale of Land Sewer Subsidy Reimbursements Rehabilitation Loan Repayments Transfer In TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND: Allocated Interest Home Sale Proceeds Non Allocated Interest Transfer In TOTAL LOW/MOD BOND REMAINING % BUDGET RECEIVED BUDGET RECEIVED 14,365,308.00 190,642.11 14,174,665.89 1.330% 16,748.90 (16,748.90) 0.000% 67,099.90 (67,099.90) 0.000% 446,142.00 0.00 446,142.00 0.000% 10,349,589.00 9,743,485.49 606,103.51 94.140% 25,161,039.00 10,017,976.40 15,143,062.60 39.820% 21,635.98 (21,635.98) 0.000% 125,000.00 343,329.44 (218,329.44) 274.660% 0.00 0.00 0.000% 48,000,000.00 48,000,000.00 0.00 100.000% 0.00 0.00 0.000% 48,125,000.00 48,364,965.42 (239,965.42) 100.500% 31591,327.00 47,660.53 3,543,666.47 1.330% 200,000.00 16,242.48 183,757.52 8.120% 0.00 0.00 0.000% 0.00 0.00 0.000% 0.00 0.00 0.000% 341,000.00 157,555.00 183,445.00 46.200% 150,000.00 0.00 150,000.00 0.000%. 0.00 0.00 0.000% 25,093.33 (25,093.33) 0.000% 26,520.85 (26,520.85) 0.000% 0.00 0.00 0.000% 4,282,327.00 273,072.19 4,009,254.81 6.380% 0.00 0.00 0.000% 0.00 0.00 0.000% 39,142.43 (39,142.43) 0.000% 0.00 0.00 0.000% 0.00 39,142.43 (39,142.43) 0.000% 1-, 4 a 063 LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 1: DEBT SERVICE FUND: SERVICES BOND PRINCIPAL BOND INTEREST INTEREST CITY ADVANCE INTEREST - ERAFLOAN PASS THROUGH PAYMENTS TRANSFERS OUT TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: PERSONNEL SERVICES LAND ACQUISITION ASSESSMENT DISTRICT ECONOMIC DEVELOPMENT CAPITAL - BUILDING BOND ISSUANCE COSTS REIMBURSEMENT TO GEN FUND TRANSFERS OUT TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: PERSONNEL SERVICES ASSESSMENT SUBSIDY PROGRAM UNDERGROUND UTILITY SUBSIDY BUILDING HORIZONS LQ RENTAL PROGRAM LQ HOUSING PROGRAM LQ REHABILITATION APARTMENT REHABILITATION REIMBURSEMENT TO GEN FUND TRANSFERS OUT TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND PERSONNEL SERVICES REIMBURSEMENT TO GEN FUND HOUSING PROJECTS TRANSFERS OUT TOTAL LOW/MOD BOND 07/01/2001-11/30/2001 REMAINING % BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED 249,834.00 7,427.50 0.00 242,406.50 3.0% 1,486,277.00 1,486,277.00 0.00 0.00 100.0% 4,623,726.00 1,481,202.82 0.00 3,142.523.18 32.0% 446,142.00 185,892.50 0.00 260,249.50 41.7% 0.00 0.00 0.00 0.0% 15,878,531.00 9,152,211.62 0.00 6,726,319.38 57.6% 0.00 0.00 0.00 0.0% 22,684,510.00 12,313,011.44 0.00 10,371498.56 54.3% 10,050.00 2,974.54 0.00 7,075.46 29.6% 191,079.00 47,992.54 0.00 143,086.46 25.1% 0.00 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.00 0.0% 339,558.00 27,600.00 0.00 311,958.00 8.1% 0.00 0.00 0.00 0.00 0.0% 1,943,714.00 1,946,070.77 0.00 (2,356.77) 100.1% 1,085,485.00 452,283.95 0.00 633,201.05 41.7% 12,100,192.00 9,702,092.77 0.00 2,398,099.23 80.2% 15 670 078.00 12 179 014.57 0.00 3,491,063.43 77 7% 10,050.00 2,974.54 0.00 7,075.46 29.6% 239,315.00 52,223.89 0.00 187,091.11 21.8% 445,000.00 15,023.90 0.00 429,976.10 3.4% 71,000.00 0.00 0.00 71,000.00 0.0% 210,000.00 172,700.00 0.00 37,300.00 82.2% 829,000.00 133,614.88 0.00 695,385.12 16.1 % 3,540,000.00 1,346,313.00 0.00 2,193,687.00 38.0% 200,000.00 11,525.50 0.00 188,474.50 5.8% 700,000.00 73,589.42 0.00 626,410.58 10.5% 206,366.00 85,985.80 0.00 120,380.20 41.7% 1,737,006.00 1,130,902.61 0.00 606,103.39 65.1 % 8,187,737.00 3,024,853.54 0.00 5,162,883.46 36.9% 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 607,723.46 300.00 0.00 607,423.46 0.0% 607,723.46 300.00 0.00 607,423.46 0.0% 04 0u4 LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO.2: DEBT SERVICE FUND: Tax Increment Allocated Interest Non Allocated Interest Interest Advance Proceeds Transfer In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: Allocated Interest Non Allocated Interest Developer Agreement Transfers In Proceeds from City Loan TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: Tax Increment Developer Funding Allocated Interest Non Allocated Interest Sale of Land Transfer In TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND: Allocated Interest Non Allocated Interest Transfer In TOTAL LOW/MOD BOND REMAINING % BUDGET RECEIVED BUDGET RECEIVED 5,810,615.00 85,656.34 5,724,958.66 1.470% 3,290.46 (3,290.46) 0.000% 383.84 (383.84) 0.000% 692,211.00 0.00 692,211.00 0.000% 338,442.00 209,488.00 128,954.00 61.900% 6,841,268.00 298,818.64 6,542,449.36 4.370% 21,092.71 (21,092.71) 0.000% 20,000.00 2,172.66 17,827.34 10.860% 0.00 0.00 0.000% 0.00 0.00 0.000% 1,100,000.00 0.00 1,100,000.00 0.000% 1,120,000.00 23,265.37 1,096,734.63 2.080% 1,452,654.00 21,414.08 1,431,239.92 1.470% 0.00 0.00 0.000% 20,700.00 25,534.48 (4,834.48) 123.350% 0.00 0.00 0.000% 0.00 0.00 0.000% 0.00 0.00 0.000% 1,473,354.00 46,948.56 1,426,405.44 3.190% 0.00 0.00 0.000% 10,455.17 (10,455.17) 0.000% 0.00 0.00 0.000% 0.00 10,455.17 (10,455.17) 0.000% oas 0 L5 LA QUINTA REDEVELOPMENT AGENCY 07/01/2001-11/30/2001 REMAINING % EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED PROJECT AREA NO, 2: DEBT SERVICE FUND: SERVICES 94,120.00 3,075.00 0.00 91,045.00 3.3% BOND PRINCIPAL 163,723.00 246,686.75 0.00 (82,963.75) 150.7% BOND INTEREST 593,968.00 214,557.68 0.00 379,410.32 36.1 % INTEREST CITY ADVANCE 692,211.00 288,421.25 0.00 403,789.75 41.7% INTEREST - ERAF LOAN 0.00 0.00 0.00 0.00 0.0% PASS THROUGH PAYMENTS 5,214,784.00 529,985.07 0.00 4,684,798.93 10.2% TRANSFERS OUT 0.00 0.00 0.00 0.00 0.0% TOTAL DEBT SERVICE 6,758,806.00 1,282,725.75 0.00 5,476,080.25 19.0% CAPITAL IMPROVEMENT FUND: PERSONNEL 5,950.00 1,800.09 0.00 4,149.91 30.3% SERVICES 119,164.00 65,472.31 0.00 53,691.69 54.9% ECONOMIC DEVELOPMENT ACTIVITY 85,000.00 0.00 0.00 85,000.00 0.0% REIMBURSEMENT TO GEN FUND 34,092.00 14,204.45 0.00 19,887.55 41.7% TRANSFERS OUT 1,353,442.00 1,068,102.50 0.00 285,339.50 78.9% TOTAL CAPITAL IMPROVEMENT 1,597,648.00 1,149,579.35 0.00 448,068.65 72.0% LOW/MODERATE TAX FUND: PERSONNEL 5,950.00 1,800.09 0.00 4,149.91 30.3% SERVICES 159,959.00 48,866.12 0.00 111,092.88 30.5% SEWER SUBSIDIES 85,000.00 0.00 0.00 85,000.00 0.0% LQ RENTAL PROGRAM 1,395,000.00 47,125.00 6,400.00 1,341,475.00 3.4% LOW MOD HOUSING PROJECTS 650,000.00 275.00 0.00 649,725.00 0.0% REIMBURSEMENT TO GEN FUND 71,258.00 29,690.80 0.00 41,567.20 41.7% TRANSFERS OUT 1,787,701.44 260,849.56 0.00 1,526,851.88 14.6% TOTAL LOW/MOD TAX 4,154,868.44 388,606.57 6,400.00 3,759,861.87 9.4% LOW/MODERATE BOND FUND PERSONNEL 0.00 0.00 0.00 0.0% SERVICES 0.00 0.00 0.00 0.0% REIMBURSEMENT TO GEN FUND 0.00 0.00 0.00 0.0% TRANSFERS OUT 2,522,731.00 0.00 0.00 2,522,731.00 0.0% TOTAL LOW/MOD BOND 2,522,731.00 0.00 0.00 2,522,731.00 0.0% 041 1 ATTACHMENT 2 m E 7 CO N A>%A>%>%>%>+>+ N Z Z Z Z Z Z Z Z Z -av��-0vv-a-a c c c c c c c c c 0 7 0 0 0 0 0 0 0 LL LL LL LL LL LL U. w w O cC N (0 fC N fC N m N r Z 3 7 7>> O c 7 7 7 N 0 0 0 O O N N 0 U) N m m (B (0 O O O O c c C c c c C C c 0 0 0 0 0 0 0 0 0 U U U n.aco c>Dc>o > >ccUU C (1)a.W -N d p Cc,� a 0 > O O ix 00) 0 0 C CD CD � 00 00 aa) 0) NNE ��- O N Y N —lidi Cm C i i ICY 3 t0 cc m C13 N m H mm c (/� C Cmm cu m?��mm cn c!i cn cfj � LO V co O LO i w c a� E cn aD c v a� 0 O a U LO O N O c Q 0 cN a co co I- Ld M LO 693 N J a) N O Q N ,+ O N O y8� N 0E. U C c r O C cca aa) c 0 in v, -0=3o 0 c c �- 0 0 E8U) fC y QL C O _N 3 m �y 0 CU (D c > 7 c � U (0 N O O� L F- 'C ++ ' U C O O 4 U 0 C m N O •5 U) u- fy 8 0 0U7 T 0 0 4hf 4 4 Q" AGENDA CATEGORY: COUNCIL,/RDA MEETING DATE: January 15, 2002 ITEM TITLE: Approval of Financing Agreement between the La Quinta Redevelopment Agency and the City of La Quinta for Park Improvements to the Civic Center Campus and Resolution Making Findings Pursuant to Health and Safety Code Section 33445 RECOMMENDATION BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Approve a financing agreement between the La Quinta Redevelopment Agency and the City of La Quinta for Park Improvements to the Civic Center Campus; Adopt a Resolution of the Redevelopment Agency making certain findings pursuant to Health and Safety Code section 33445 to approve an advance not to exceed $2,448,263 from the Redevelopment Agency Capital Projects No. 1 Fund to the Park and Recreation Developer Impact Fee Fund; Approve the re -budgeting of $60,723 in Infrastructure funds allocated to the Civic Center Campus into infrastructure fund reserves to be used for other eligible projects. FISCAL IMPLICATIONS At the November 20, 2001 City Council meeting, staff provided the City Council with three alternatives for the construction of the Civic Center Campus Improvements and recommended Option 2, which would require an appropriation of $520,577. The additional appropriation was contingent upon an advance agreement between the La Quinta Redevelopment Agency and the City of La Quinta. At the November meeting, City Council approval was given to proceed with the award of the contract and to determine if adequate funding was available to construct ultimate improvements (Option 3) for Phase I and II of the Civic Center Campus Park. The ultimate improvements would require an additional appropriation of $1,059,475 for a total of $1,580,052. The determination for the ultimate improvements to the Civic Center Campus will be forth coming in the near future. 04�� The current available funding in FY 01 /02 for the Civic Campus before considering either of these options is $1,654,777 and detailed as follows: Art in Public Places Infrastructure Financing Authority Urban Forestry Grant RDA PA 1 Total Use of Park DIF Funds FY 01 /02 Previous Total $257,834 $ 90,766 $ 3481600 60,723 122,526 18 3, 249 517,732 8,442 526,174 11,000 0 11,000 807,488 0 807,488 $1,654,777 $221,734 $1,876,51 1 As of December 31, 2001 the Park and Recreation DIF has approximately $1.2 million dollars available for eligible improvements, which have been earmarked for the La Quinta Park at Adams St and Westward Ho Drive. While this is a significant amount, the City would have to wait an additional 9 to 10 years to acquire adequate funding to build the 18 acre park on a pay as you go basis assuming 300 single family building permits per year. In order to complete the La Quinta Park earlier, an additional advance of $1.1 million will be necessary from RDA Project Area 2 to fully fund the Park which is currently in the planning stages. The Civic Center Campus Park Improvements are located in Project Area 1. Both of these projects (La Quinta Park and Civic Center Campus Park Improvements) are eligible to be constructed with Park and Recreation Developer Impact Fees (DIF). With the recent RDA No. 1 bond issue, staff is reviewing if there is adequate funding available to fund Option 3 of the Civic Center Campus Park Improvements. Listed below are the potential funding sources: Amount currently appropriated $ 807,488 Re -appropriation of Infrastructure funding $ 60,723 Option 3 Additional Funding $1,580,052 Total $2,448,263 Staff is proposing to advance up to $2,448,263 of RDA Project Area 1 funding to complete the Civic Center Campus Park. This advance would bear interest based upon the average quarterly interest rate earned from the investment pool and would be repaid with future Park DIF collections. While future collections of Park DIF are uncertain, based upon 300 single-family permits per year it would take approximately 19 years to repay the advance. The RDA project area expires in approximately 30 years. Once the Park DIF repays the RDA, these repaid monies would be used for eligible RDA activities. The amount to be repaid annually would be determined during the budget process based upon the available Park DIF fund balances. According to the Agency Bond Counsel, if bond proceeds are used for the advance, the project must be completed in three years from the issuance of the bonds which was August 2001. Therefore, any projects advanced funds must be started or completed before August 2004. CHARTER CITY IMPLICATIONS The Contract for the Civic Center Campus was originally bid on a prevailing wage basis since Redevelopment Agency funding was going to be utilized and a loan was not anticipated. To determine if bidding will require paying prevailing wages, staff anticipates the funding source(s) that will be used. If the project requires more than one funding source and one of the funding sources requires the payment of prevailing wages, then the entire project is bid based upon the payment of prevailing wages. BACKGROUND AND OVERVIEW In August 1999, the City implemented a new Developer Impact Fee (DIF) Program to replace the Infrastructure program. The new program created subcategories of fees which developers pay at the time building permits are issued. For instance, a builder that constructs a single family detached home pays $402 into the Park and Recreation DIF fund. As of November 2001, the Park DIF fund had $1 .2 million available which is allocated toward the La Quinta Park. The amounts collected have exceeded projections based upon the rapid growth experienced in the City for the last two years. In addition to the La Quinta Park, the City, Financing Authority and Redevelopment Agency are also funding the Civic Center Campus Improvement Project. Attachment 1 consists of a financing agreement between the La Quinta Redevelopment Agency and the City of La Quinta formalizing a loan from Project Area 1 to the Park and Recreation Developer Impact Fee fund. The loan would bear interest and has no specified repayment date. Repayment of the loan principal and interest would be made during the budget process. While not anticipated, in the worst case, the loan could be forgiven by the Agency Board and City Council if adequate development did not occur to generate funds to repay the loans. Any unspent funds after the project was completed would be returned to the Redevelopment Agency and the outstanding loan amount would be reduced. FINDINGS AND ALTERNATIVES The alternatives available to the Redevelopment Agency Board include: 1 . Approve a financing agreement between the La Quinta Redevelopment Agency and the City of La Quinta for Park Improvements to the Civic Center Campus; 05 , 003 Adopt a Resolution of the Redevelopment Agency making certain findings pursuant to Health and Safety Code section 33445 to approve an advance not to exceed $2,448,263 from the Redevelopment Agency Capital Projects No. 1 Fund to the Park and Recreation Developer Impact Fee fund and; Approve the re -budgeting of $60,723 in Infrastructure funds allocated to the Civic Center Campus into infrastructure fund reserves to be used for other eligible projects. 2. Do not approve a financing agreement between the La Quinta Redevelopment Agency and the City of La Quinta for Park Improvements to the Civic Center Campus; Do not adopt a Resolution of the Redevelopment Agency making certain findings pursuant to Health and Safety Code .section 33445 to approve an advance not to exceed $2,448,263 from the Redevelopment Agency Capital Projects No. 1 Fund to the Park and Recreation Developer Impact Fee fund, and; Do not approve the re -budgeting of $60,723 in Infrastructure funds allocated to the Civic Center Campus into infrastructure fund reserves to be used for other eligible projects. 3. Provide staff with alternative direction. Respectively submitted, ." 4 0 � 47tt� Jo n M. Falconer,, Finance Director Attachments: 1. Financing Agreement Approved for submission by: Thomas P. Genovese, Executive Director 0 5 '� 4- 004 RESOLUTION NO.2002- A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY OF THE CITY OF LA QUINTA, CALIFORNIA, MAKING CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445(a) WHEREAS, the City Council of the City of La Quinta on November 20, 2001, approved proceeding with improvements to the Civic Center Campus ("Campus Improvements"), all of which are publicly owned improvements; WHEREAS, the Campus Improvements are located in the La Quinta Redevelopment Agency's Project Area 1, and will enhance the public's use Project Area 1; WHEREAS, there is inadequate funding available from the Park and Recreation Developer Impact Fund to proceed with the Campus Improvements at this point in time; WHEREAS, it would be in the best interest of the public for the Campus Improvements to be installed at this point in time; NOW, THEREFORE, BE IT RESOLVED by the La Quinta Redevelopment Agency of the City of La Quinta, California, as follows: SECTION 1. Pursuant to Health and Safety Code Section 33445(a), the City Council finds that: (a) That the Campus Improvements will be of benefit to the Project Area and to the immediate neighborhood in which the Campus Improvements will be located. (b) That no other reasonable means of financing the Campus Improvements are available to the community at this time, in the City's Park & Recreation Developer Impact Fee fund currently does not have sufficient funds to pay for the construction, and will not accumulate sufficient funds for that purpose within the near future. (c) That the payment of funds for the acquisition of the Campus Improvements will assist in the elimination of one or more blighting conditions inside the project area and is consistent with the implementation plan adopted pursuant to Section 33490. SECTION 2. The La Quinta Redevelopment Agency authorizes the execution of the Financing Agreement for the purpose of providing funding for the Campus Improvements, subject to repayment from the City's Parks & Recreation Developer Impact Fee fund in the future. PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta Redevelopment Agency held on this 15'h day of January, 2002, by the following vote to wit: 050 119/015610-0048 249658.01 AM02 O 0 4 - A AYES: Board Members NOES: None ABSENT: None ABSTAIN: None TERRY HENDERSON, Chairperson City of La Quinta, California ATTEST: JUNE S. GREEK, Secretary City of La Quinta, California APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel City of La Quinta, California 05 119/015610-0048 n 249658.01 AM02 -2- 005 ATTACHMENT 1 FINANCING AGREEMENT THIS FINANCING AGREEMENT ("Agreement") is made and entered into this day of , 2002, by and between the LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic ("Agency"), and the CITY OF LA QUINTA, a charter city and municipal corporation ("City"). RECITALS WHEREAS, Agency is a public body, corporate and politic, organized under the California Community Redevelopment Law (Health & Safety Code § 33000 et seq.); and WHEREAS, City is a municipal corporation and a charter city of the State of California organized and existing under the Constitution of the State of California; and WHEREAS, Agency, pursuant to Health and Safety Code Section 33445, is authorized to provide funding, including in the form of loan financing, for the development of publicly owned improvements; and WHEREAS, City and Agency mutually desire to enter into this Agreement to set forth their respective obligations with respect to a public improvement financing loan by the Agency to the City's Park & Recreation Developer Impact Fee fund ("P&R DIF Fund") in the amount up to Two Million Four Hundred Folly -Eight Thousand Two Hundred Sixty -Three Dollars ($2,448,263.00) to be used by the City to meet the cost of developing the publicly owned improvements to the Civic Center Campus set forth in Exhibit "A" attached hereto and incorporated herein; and WHEREAS, without the loan set forth herein such publicly owned improvements to the Civic Center Campus would not be developed for many years until such time as sufficient P&R DIF fees were collected; and WHEREAS, it is anticipated that the loan financing set forth herein shall be repaid by City from the future collection of P&R DIF fees as new private development occurs in the community; and WHEREAS, no portion of the loan funds are to used for any purpose not permitted by Health and Safety Code Section 33445 as such code section exists on the date of this Agreement. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter contained, Agency and City agree as follows: Section 1. Agency Loan, Interest; Use of Loan Principal. Agency hereby loans to City the principal amount of Two Million Four Hundred Forty - Eight Thousand Two Hundred Sixty -Three Dollars ($2,448,263.00) ("Loan Principal") from J ''j 394/015610-0042 246776.04 "02 007 currently available tax increment funds for Redevelopment Project Area No. 1. Interest shall accrue on the outstanding Loan Principal at the earning rate of the City's Investment Pool funds, and shall be adjusted quarterly. The Loan Principal shall be used for the publicly owned improvements set forth in Exhibit "A" hereto and incorporated herein. No portion of the Loan Principal shall be used for any purpose not permitted by Health and Safety Code Section 33445 as it exists on the date of this Agreement. Section 2. Repayment. The Loan Principal and the accrued interest shall be repaid by City in annual installments from available monies paid into the P&R DIF Fund. The first annual installment shall be for the period from the date of this Agreement to June 30, 2002, and shall be paid to Agency not later than July 31, 2002. The amount of the annual installment shall be identified in the annual adoption of the budget or through a subsequent appropriation of the City Council of the City. Subsequent annual installments shall cover succeeding fiscal year periods and shall be payable by the July 31 st following the end of a fiscal year (i.e., second annual installment shall be for the period July 1, 2002 through June 30, 2003, and shall be payable by July 31, 2003). City shall be entitled to repay all or part of the Loan Principal at any time with no other charges, fees, or penalties. All amounts due under this Agreement shall be payable at the offices of City. Section 3. Subordination. The repayment of the Loan Principal by City shall be junior and subordinate to all City obligations incurred prior to the date of this Agreement. Section 4. Non -Recourse Oblijzation. No officer, official, employee, agent, or representatives of City shall be liable for any amounts due hereunder, and no judgment or execution thereon entered in any action hereon shall be personally enforced against any such officer, official, employee, agent, or representative. Section 5. Entire Agreement; Amendments. This Agreement shall constitute the entire agreement of the parties. This Agreement may be amended or modified only by an agreement in writing signed by the parties. 394/015610-0042 246776.04 AM02 [end — signature page follows] -2- 008 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their authorized representatives, as of the date first above written. ATTEST: Secretary APPROVED AS TO FORM: Agency Counsel ATTEST: City Clerk APPROVED AS TO FORM: City Attorney 394/015610-0042 246776.04 AM02 -3- "AGENCY" LA QUINTA REDEVELOPMENT AGENCY CDR Chairman "CITY" CITY OF LA QUINTA By: Mayor nn9 EXHIBIT "A PUBLICLY OWNED IMPROVEMENTS IN CIVIC CENTER CAMPUS [SEE LIST ON FOLLOWING PAGE] 394/015610-0042 O 246776.02 AM02 t ! l n CITY OF LA QUINTA PROJECT NO. 97-09 CIVIC CENTER CAMPUS IMPROVEMENTS CONSTRUCTION COSTS EST. ITEM N0. ITEM DESCRIPTION QTY. UNIT UNIT PRICE ITEM TOTAL BASE BID SCHEDULE: SITE IMPROVEMENTS 1 MOBILIZATION 1 LS 2 CLEARING AND GRUBBING 1 LS GRAD SITE PER APPROVED PLAN 3 CONTOURS 1 LS LOCATED AND PROTECT EXISTING 4 UTILITIES 1 LS LOCATE & ABANDON EXIST. SUMP 5 SYSTEMS 1 LS FLUSH, CLEAN & RELOCATE EXIST. 6 DRAINS 1 LS 7 INSTALL PVC SLEEVES 90 LF INSTALL LANDSCAPE DRAINAGE 8 SYSTEM 1 LS 9 ITRAFFIC CONTROL 1 LS cl CeITOutei 10 INSTALL ELECTRICAL SYSTEM COMPLETE PER PLANS 1 LS 11 POST FOOTINGS AND HARDWARE FOR POLE LIGHT FIXTURES 1 LS 12 2 FIBER OPTIC COMMUNICATIONS CABLE CONDUIT 1520 LF 1- LAKE,STREAM,BOULDER, ISLAND,GEYSE 13 R COMPLETE 1 LS 16 RETAINING WALLS WITH STONE VENEER 425 LF 17 ADA COMPLAINT ACCESS RAMPS 4 EA 18 PUMP BUILDING COMPLETE 1 LS 19 6' SCREEN WALL AT PUMP STATION 60 LF 21 PILASTER W/DECORATIVE POTS 8 EA 22 INSTALL 30' BRIDGE W/ABUTMENTS & HARDWARE COMPLETE 1 LS 23 INSTALL 20' BRIDGE W/ABUTMENTS & HARDWARE COMPLETE 1 LS 24 INSTALL STAIRWAY AND HANDRAIL COMPLETE 1 LS 25 INSTALL BOLTS FOR HISTORIC PLAQUE 1 LS 26 INSTALL CONCRETE FOR PETER LADOCHY'S ART WORK 7 EA 27 INSTALL 18" CONCRETE BASE FOR BILL WARE'S ART WORK 3 EA I IRRIGATION 28 BOOSTER PUMP COMPLETE 1 EA 29 IRRIGATION SYSTEM COMPLETE 1 LS $60,000.00 $60,000.00 $30,000.00 $30,000.00 $66 000.00 $66,000.00 $5,000.00 $5,000.00 $5,000.00 $5,000.00 $5,000.00 $5,000.00 $10.00 $900.00 $10,000.00 $10,000.00 $6,000.00 $6,000.00 SUB -TOTAL $187,900.00 7,000.001 $87,000.00 $35,400.00 1 $35,400.00 11.90 1 $18,088.00 SUB -TOTAL 1 $140,488.00 $495,300.00 $495,300.00 SUB -TOTAL $495,300.00 $120.00 $51,000.00 $600.00 $2,400.00 $7,700.00 $7,700.00 $195.00 $11,700.00 $1,080.00 $8,640.00 $36,100.00 $36,100.00 $31,120.00 $31,120.00 $3,500.00 $3,500.00 $100.00 $100.00 $1,800.00 $12,600.00 $4,000.00 $12,000.00 SUB -TOTAL 1 $176,860.00 $25,000.00 $25,000.00 $172,000.00 $172,000.00 SUB -TOTAL $197,000.00 CITY OF LA QUINTA PROJECT NO. 97-09 CIVIC CENTER CAMPUS IMPROVEMENTS EST. ITEM NO. ITEM DESCRIPTION QTY. UNIT w ►Iner-A DInlrs 30 HYDRO -SEED TURF AREA/STOLONIZE #419 385431 SF 31 INSTALL AND STAKE 15-GALLON TREES 166 EA 32 ONE YEAR MAINTENANCE 1 LS 33 MAINTAIN CITY PROVIDED PALM TREES AT HOLDING AREA 1 LS 34 REMOVE & RELOCATE CITY PROVIDED PALM TREES 54 EA SITE FURNISHINGS 35 1 DRINKING FOUNTAIN 1 LS GRAND TOTAL BASE BID AREA ITEMS 1-36: wnn Al rcoklATIVP Al 1 COLOR PAVING W/LIGHT BROOM FINISH 18539 SF 2 COLOR PAVING W/EXPOSED AGGREGATE 4137 SF 3 INTERLOCKING PAVERS 4101 SF 4 STONE PAVERS OVER CONCRETE BASE 4657 SF 5 COLOR CONCRETE MOW STRIP 1145 LF TOTAL ALTERNATIVE #1 ADD ALTERNATIVE #2 LIGHT POLE FIXTURES AND WIRING 1 COMPLETE 1 LS TOTAL ALTERNATIVE #2 ADD ALTERNATIVE #3 HISTORIC PLAZA FOUNTAIN SYSTEM 1 COMPLETE 1 LS TOTAL ALTERNATIVE #3 wnn Al rCOKIATIVG AA 1 TREE ACCENT LIGHTS TYPE 2 W/WIRING 36 EA 2 TREE ACCENT LIGHTS TYPE 4 W/WIRING 6 EA 3 BOLLARD LIGHT FIXTURES AT ENTRIES 24 EA 4 LIGHT FIXTURES AT SHADE STRUCTURES 34 EA TOTAL ALTERNATIVE #4 •r►r% A rC13MAr11/C Wr. 1 LOW �_ TREES @ 24" BOX 73 EA 2 TREES 36" BOX 154 EA 3 TREES @ 48" BOX 9 EA 4 WASHINGTON FILIFERA 582 TF 5 SHRUBS 5-GAL 7111 EA 6 SHRUBS 15-GAL 44 EA CONSTRUCTION COSTS UNIT PRICE I ITEM TOTAL $0.09 $34,688.79 $85.00 $14,110.00 $66,000.00 $66,000.00 $5,500.00 $5,500.00 $340.00 $18,360.00 SUB -TOTAL $138,658.79 $6,000.00 $6,000.00 SUB -TOTAL $6,000.00 $1 342 206.79 $2.90 $53,763.10 $6.70 $27,717.90 $11.75 $48,186.75 $13.75 $64,033.75 $8.65 $9,904.25 SUB -TOTAL $203,605.75 $90,800.00 $90,800.00 SUB -TOTAL $90,800.00 $95,500.00 $95,500.00 SUB -TOTAL $95,500.00 $1,064.00 $38,304.00 $800.00 $4,800.00 $1,540.00 $36,960.00 $890.00 $30,260.00 SUB -TOTAL 1 $110,324.00 $182.00 $13,286.00 $430.00 $66,220.00 $1,112.00 $10,008.00 $98.00 $57,036.00 $14.70 $10,451.70 $62.00 $2,728.00 0 61 0 012 CITY OF LA QUINTA PROJECT NO. 97-09 CIVIC CENTER CAMPUS IMPROVEMENTS ITEM NO. ITEM DESCRIPTION EST. QTY. UNIT 7 GROUNDCOVERS @ 1-GAL 556 EA 8 PHOENIX DACTYLIFERA 32 EA 9 INSTALL CONCRETE MOW -STRIP 2751 LF 10 LANDSCAPING BOULDERS 1501 EA 11 FOQUIERIA SPLENDENS 3 EA TOTAL ALTERNATIVE #5 I%n AI TGOIJATIVC SIR 1 BENCHES 29 EA 2 OUTDOOR STAGE 1 LS 3 COLOR PAVING WSAND FINISH 1890 SF 4 GAZEBO 1 EA 5 PERGOLA SHADE STRUCTURE 1 EA 6 TRYST SHADE STRUCTURE 1 EA 7 GATEWAY SHADE STRUCTURE 1 EA 8 PAVILION SHADE STRUCTURE 1 JEA 9 EXERCISE STATIONS 5 EA 10 TRASH RECEPTACLES 81 EA TOTAL ALTERNATIVE #6 TOTAL OF ALL ALTERNATIVES GRAND TOTAL CONSTRUCTION PROFESSIONAL DESIGN TECHNICAL SERVICES - CM TECHNICAL SERVICES - Survey/Testing/Sig REIMBURSE GENERAL FUND CONSTRUCTION- Pink/Riverside CONSTRUCTION - William Ware CONSTRUCTION- Peter Ladoch CONSTRUCTION- Sandy Swan CONTI I TOTAL CONSTRUCTION COSTS UNIT PRICE ITEM TOTAL $6.00 $3,336.00 $2,530.00 $80,960.00 $7.20 $1,980.00 $325.00 $48,750.00 $200.00 $600.00 SUB -TOTAL 1 $295,355.70 $1,600.00 $46,400.00 $7,500.00 $7 500.00 $4.30 $8,127.00 $17,300.00 $17,300.00 $81,500.00 $81,500.00 $38,000.00 38,000.00 $49,350.00 $49,350.00 $103,000.00 $103,000.00 $1,250.00 $6,250.00 $1,200.00 $9,600.00 SUB -TOTAL 1 $367,027,00 $1,162,612.45 $2,504,819.24 $20,000.00 $161,145.00 $140,081.97 $50,601.84 $90,130.39 $20,272.22 $90,000.00 $57,600.00 $48,179.00 $307,350.69 $3,490,180.35 Note: Other funding sources include State Urban Forestry Grant Revenues, RDA Project Area No. 1 Funds; Art in Public Places Funds; Infrastructure Funds; and Financing Authority Funds. 011 T4t!t4.�Qal�ru, AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: January 15, 2002 CONSENT CALENDAR: STUDY SESSION: Consideration of a Property Management Firm for the PUBLIC HEARING: La Quinta Rental Housing Program RECOMMENDATION: Approve the selection of La Quinta Palms Realty to provide property management services for the single-family rental units in the La Quinta Rental Housing Program and authorize the Agency Chair to execute the final contract. FISCAL IMPLICATIONS: None. Property management costs are paid from rental income. BACKGROUND AND OVERVIEW: In 1995, the Redevelopment Agency acquired 50 single-family homes in the Cove to preserve housing affordable to Section 8 rental households. While the homes continue to be rented to said households, the Agency has been substantially rehabilitating these units and selling them to eligible very -low income households as units become vacant and as qualified buyers are secured. To date, seven units have or will be sold leaving 43 in the rental program. In 1996, the Agency retained La Quinta Real Estate to manage these units, which consists of monitoring rent collection, overseeing property maintenance and management and serving as broker for unit sales. Their five-year contract expired in December 2001, and Agency staff has been soliciting proposals from La Quinta Real Estate and other qualified property management firms to continue property management activities. An initial Request for Proposals (RFP) was circulated in October 2001; however, no proposals were submitted. The reason was that the management fee the Agency proposed to pay was below market rates for similar private property management activities in La Quinta. A revised RFP that increased the allowable property management fee was approved by the Agency Board on November 20, 2001, and was subsequently transmitted to local property management firms. Three (3) proposals were received from - La Quinta Real Estate, La Quinta Palms Realty, and Preferred Obi G:\WPDOCS\CC Stf Rpts\propmgrrpt.doc Rental Properties of Palm Desert. A selection committee consisting of the Agency's Assistant Executive Director, the Community Development and Finance Department Directors, and two (2) RSG staff members who oversee the Agency's property management activities interviewed the candidates on December 13, 2001. In order to insure that there would be no lapse in property management oversight during the interview and selection period, and to facilitate a smooth transition if a new firm was selected, a sixty (60) day contract extension with La Quinta Real Estate was instituted to provide sufficient time to select a property management firm and negotiate a contract. After considerable evaluation the selection committee determined that La Quinta Palms Real Estate would best achieve the Agency's property management objectives and recommends that the Agency select this firm. In both their proposal and in their subsequent interview, the La Quinta Palms Realty staff presented clear-cut approaches to collecting rent, managing tenant issues and needs, and undertaking property maintenance activities. They also indicated a strong desire to put a "face" to the entity that owns these units and recommend that rents be deposited at their Village office so that their staff can interface with the tenants and their families. This way, they feel they can ascertain if there are issues developing with the tenants that could evolve into future rent collection or property management problems. The cost for their services was at the mid -point of the three proposals, with the current property management firm proposing the highest fee and the Preferred Rental Properties proposing the lowest. However, the lowest bid firm did not have as much experience with managing Section 8 units and did not possess a local office that could better monitor tenant activities. Attached is the contract for Agency Board consideration. The contract has been reviewed and approved by both Agency legal counsel and La Quinta Palms Realty. It provides for an initial two year term, with the fee and responsibilities subject to renegotiation after this period. Both parties agreed to the shorter period in order to reevaluate the Agency property management service needs and costs in light of unit sales and a decrease in the property management inventory. FINDINGS AND ALTERNATIVES: Alternatives available to the Redevelopment Agency Board include: 1. Approve the selection of La Quinta Palms Realty to provide property management services for the single-family rental units in the La Quinta Rental Housing Program and authorize the Agency Chair to execute the final contract; or 2. Deny the selection of La Quinta Palms Realty to provide property management services for the single-family rental units in the La Quinta Rental Housing Program and do not authorize the Agency Chair to execute the final contract; ') • or G:\WPDOCS\CC Stf Rpts\propmgrrpt.doc 3. Provide staff with alternative direction. Respectfully submitted, ,err herma Co unity gevelopment Director Approved for submission by: Thomas P. Genovese, Executive Director 0b JQ3 G:\WPDOCS\CC Stf Rpts\propmgrrpt.doc ATTACHMENT #1 AGREEMENT FOR CONTRACT SERVICES PROPERTY MANAGEMENT SERVICES THIS AGREEMENT FOR CONTRACT SERVICES the "Agreement"), is made and entered into by and between the LA QUINTA REDEVELOPMENT AGENCY, a public body, corporate and politic, organized and existing under the California Community Redevelopment Law (Health & Safety Code § 33000 et seq.) ("Agency"), and LA QUINTA PALMS REALTY, a California Corporation ("Contractor"). The parties hereto agree as follows: 1.0 SERVICES OF CONTRACTOR 1.1 Scope of Services. In compliance with all terms and conditions of this Agreement, the Contractor shall provide those services related to residential property management and sales for the Agency, as specified in the "Scope of Services" attached hereto as Exhibit "A-1 " and incorporated herein by this reference (the "services" or "work"). Contractor warrants that all services will be performed in a competent, professional and satisfactory manner in accordance with the standards prevalent in the industry for such services. 1.2 Compliance with Law. All services rendered hereunder shall be provided in accordance with all ordinances, resolutions, statutes, rules, regulations and laws of the City of La Quinta ("City") and any Federal, State or local governmental or quasi -governmental agency of competent jurisdiction. 1.3 Licenses, Permits, Fees and Assessments. Contractor shall obtain at its sole cost and expense such licenses, permits and approvals as may be required by law for the performance of the services required by this Agreement. Contractor shall have the sole obligation to pay for any fees, assessments and taxes, plus applicable penalties and interest, which may be imposed by law and arise from or are necessary for the performance of the services required by this Agreement. 1.4 Familiarity with Work. By executing this Agreement, Contractor warrants that (a) it has thoroughly investigated and considered the work to be performed, (b) it has investigated the site of the work and fully acquainted itself with the conditions there existing, (c) it has carefully considered how the work should be performed, and (d) it fully understands the facilities, difficulties and restrictions attending performance of the work under this Agreement. Should the Contractor discover any latent or unknown conditions materially differing from those inherent in the work or as represented by the Agency, it shall immediately inform Agency of such fact and shall not proceed except at Contractor's risk until written instructions are received from the Contract Officer (as defined in Section 4.2 hereof). a6) 05 G:\WPDOCS\Contracts\LQPalmsRealty.wpd Agreement for Contract Services Property Management Services La Quinta Palms Realty 1.5 Care of Work. The Contractor shall adopt reasonable methods during the life of the Agreement to furnish continuous protection to the work, and the equipment, materials, papers and other components thereof to prevent losses or damages, and shall be responsible for all such damages, to persons or property, until acceptance of the work by Agency, except such losses or damages as may be caused by Agency's own negligence. The performance of services by Contractor shall not relieve Contractor from any obligation to correct any incomplete, inaccurate or defective work at no further cost to the Agency, when such inaccuracies are due to the negligence of Contractor. 1.6 Additional Services. In accordance with the terms and conditions of this Agreement, the Contractor shall perform services in addition to those specified in the Scope of Services (Exhibit "A-1 ") when directed in writing to do so by the Contract Officer, provided that Contractor shall not be required to perform any additional services without compensation. Any addition in compensation not exceeding five percent (5 %) of the Contract Sum may be approved by the Contract Officer. Any greater increase must be approved by the Agency Board. 1.7 Special Requirements. Additional terms and conditions of this Agreement, if any, which are made a part hereof are set forth in the "Special Requirements" attached hereto as Exhibit "B" and incorporated herein by this reference. In the event of a conflict between the provisions of Exhibit "B" and any other provisions of this Agreement, the provisions of Exhibit "B" shall govern. 2.0 COMPENSATION 2.1 Contract Sum. For the services rendered pursuant to this Agreement, the Contractor shall be compensated in accordance with the "Schedule of Compensation" attached hereto as Exhibit "C" and incorporated herein by this reference, but not exceeding the maximum contract amount over the two (2) year term of the lesser of (i) One Hundred Thirteen Thousand Five Hundred Twenty Dollars ($113,520) or (ii) One Hundred Ten Dollars ($110) per unit monthly, based on a maximum of forty-three (43) units ("Contract Sum"), except as provided in Section 1.6. The method of compensation shall be as set forth in the Schedule of Compensation (Exhibit "C"). 2.2 Method of Payment. Any month in which Contractor wishes to receive payment, Contractor shall submit to the Agency no later than the tenth (10th) working day of such month, in the form approved by the Agency's Finance Director, an invoice for services rendered prior to the date of the invoice. Such invoice shall (1) describe in detail the services provided, including time and materials, (2) specify 066 each staff member who has provided services and the number of hours assigned to JOG G:\WPDOCS\Contracts\LQPalmsRealty.wpd 2 Agreement for Contract Services Property Management Services La Quinta Palms Realty each such staff member, and (3) indicate the total expenditures to date. Such invoice shall contain a certification by a principal member of Contractor specifying that the payment requested is for work performed in accordance with the terms of this Agreement. Agency will pay Contractor for all expenses stated thereon which are approved by Agency pursuant to this Agreement no later than the last working day of the month. 3.0 PERFORMANCE SCHEDULE 3.1 Time of Essence. Time is of the essence in the performance of this Agreement. 3.2 Schedule of Performance. All services rendered pursuant to this Agreement shall be performed diligently and within the time period established in the "Schedule of Performance" attached hereto as Exhibit "D" and incorporated herein by this reference. Extensions to the time period specified in the Schedule of Performance may be approved in writing by the Contract Officer. 3.3 Force Majeure. The time period specified in the Schedule of Performance (Exhibit "D") for performance of the services rendered pursuant to this Agreement shall be extended because of any delays due to unforeseeable causes beyond the control and without the fault or negligence of the Contractor, including, but not restricted to, acts of God or of the public enemy, fires, earthquakes, floods, epidemic, quarantine restrictions, riots, strikes, freight embargos, acts of any governmental agency other than Agency, and unusually severe weather, if the Contractor shall within ten (10) days of the commencement of such delay notify the Contracting Officer in writing of the causes of the delay. The Contracting Officer shall ascertain the facts and the extent of delay, and extend the time for performing the services for the period of the forced delay when and if in his judgment such delay is justified, and the Contracting Officer's determination shall be final and conclusive upon the parties to this Agreement. 3.4 Term. Unless earlier terminated in accordance with Section 7.8 of this Agreement, this Agreement shall continue in full force and effect for two (2) years commencing March 1, 2001, or until completion of the services, except as otherwise provided in the Schedule of Performance (Exhibit "Y). 4.0 COORDINATION OF WORK 4.1 Representative of Contractor. The following principals of Contractor are hereby designated as being the principals and representatives of Contractor authorized to act in its behalf with respect to the work specified herein and 069, A7 G:\WPDOCS\Contracts\LQPalmsRealty.wpd 3 Agreement for Contract Services Property Management Services La Quinta Palms Realty make all decisions in connection therewith: a. Bruce Cathcart, or b. James Cathcart It is expressly understood that the experience, knowledge, capability and reputation of the foregoing principals were a substantial inducement for Agency to enter into his Agreement. Therefore, the foregoing principals shall be responsible during the term of this Agreement for directing all activities of Contractor and devoting sufficient time to personally supervise the services hereunder. The foregoing principals may not be changed by Contractor and no other personnel may be assigned to perform the service required hereunder without the express written approval of Agency. 4.2 Contract Officer. The Contract Officer shall be the Community Development Director or such other person as may be designated by the Executive Director of Agency. It shall be the Contractor's responsibility to assure that the Contract Officer is kept informed of the progress of the performance of the services and the Contractor shall refer any decisions which must be made by Agency to the Contract Officer. Unless otherwise specified herein, any approval of Agency required hereunder shall mean the approval of the Contract Officer. 4.3 Prohibition Against Subcontracting or Assignment. The experience, knowledge, capability and reputation of Contractor, its principals and employees were a substantial inducement for the Agency to enter into this Agreement. Therefore, Contractor shall not contract with any other entity, including any legal services from an individual practitioner or law firm, to perform in whole or in part the services required hereunder without the express written approval of the Agency. In addition, neither this Agreement nor any interest herein may be assigned or transferred, voluntarily or by operation of law, without the prior written approval of Agency. 4.4 Independent Contractor. Neither the Agency nor any of its employees shall have any control over the manner, mode or means by which Contractor, its agents or employees, perform the services required herein, except as otherwise set forth. Contractor shall perform all services required herein as an independent contractor of Agency and shall remain at all times as to Agency a wholly independent contractor with only such obligations as are consistent with that role. Contractor shall not at any time or in any manner represent that it or any of its agents or employees are agents or employees of Agency. The foregoing is not intended to preclude Contractor from performing the services set forth in Paragraph 5 of Exhibit "A-1." 4.5 Agency Cooperation. The Agency shall provide Contractor with any plans, publications, reports, statistics, records or other data or Information 6 80 pertinent to services to be performed hereunder which are reasonably available to the G:\WPDOCS\Contracts\LQPalmsRealty.wpd 4 Agreement for Contract Services Property Management Services La Quinta Palms Realty Agency. The Agency shall additionally provide Contractor staff assistance and shall take prompt and appropriate action when it will assist in ensuring and timely performance by Contractor hereunder. 5.0 INSURANCE, INDEMNIFICATION AND BONDS. 5.1 Insurance. The Contractor shall procure and maintain, at its cost, and submit concurrently with its execution of this Agreement, liability and property damage insurance against all claims for injuries against persons or damages to property resulting from Contractor's acts or omissions rising out of or related to Contractor's performance under this Agreement. The insurance policy shall contain a severability of interest clause providing that the coverage shall be primary for losses arising out of Contractor's performance hereunder and neither the Agency or the City of La Quinta (the "City") nor its insurers shall be required to contribute to any such loss. The amount of liability and personal injury insurance required hereunder shall be One Million Dollars ($1,000,000), single limit and per occurrence The Contractor shall also carry automobile liability insurance of $500,000 per accident against all claims for injuries against persons or damages to property arising out of the use of any automobile by the Contractor, its officers, any directly or indirectly employed by the Contractor, any subcontractor, and agents or anyone for whose acts any of them may be liable, arising directly or indirectly out of or related to Contractor's performance under this Agreement. The term "automobile" includes, but is not limited to, a land motor vehicle, trailer or semi -trailer designed for travel on public roads. The automobile insurance policy shall contain a severability of interest clause providing that coverage shall be primary for losses arising out of Contractor's performance hereunder and neither the Agency or City nor its insurers shall be required to contribute to such loss. All insurance required under this Agreement shall be written on an "occurrence" basis rather than a "claims -made" basis, and shall name the Agency and City and their respective officers, officials, employees, agents, and representatives as additional insureds. A certificate(s) evidencing the foregoing insurance coverages meeting the above requirements shall be delivered to and approved by the Agency prior to commencement of the services hereunder. Contractor shall also carry Workers' Compensation Insurance in accordance with State Workers' Compensation laws. If required by the Contract Officer, the Contractor shall procure professional 0 6 ) J09 G:\WPDOCS\Contracts\LQPalmsRealty.wpd 5 Agreement for Contract Services Property Management Services La Quinta Palms Realty errors and omissions liability insurance in the amount acceptable to the Agency. All insurance required by this Section shall be kept in effect during the term of this Agreement and shall not be cancelable without thirty (30) days' written notice of proposed cancellation to Agency from the insurer. The procuring of such insurance or the delivery of policies or certificates evidencing the same shall not be construed as a limitation of Contractor's obligation to indemnify the Agency and City and their respective officers, officials, employees, agents, representatives, contractors, and subcontractors. 5.2 Indemnification. The Contractor shall defend, indemnify and hold harmless the Agency and City and their respective officers, officials, employees, representatives, agents, contractors, and subcontractors, from and against any and all actions, suits, proceedings, claims, demands, losses, costs, and expenses, including legal costs and attorneys' fees, for injury to or death of person(s), for damage to property (including property owned by the Agency or City) and for errors and omissions committed by Contractor, its officers, anyone directly or indirectly employed by Contractor, any subcontractor, agents, or anyone for whose acts any of them may be liable, arising directly or indirectly out of or related to Contractor's performance under this Agreement, except to the extent of such loss as may be caused by Agency's own active negligence, sole negligence or willful misconduct, or that of its officers, officials, or employees acting in his, her, or their official capacity. 5.3 Remedies. In addition to any other remedies the Agency or City may have if Contractor fails to provide or maintain any insurance policies or policy endorsements to the extent and within the time herein required, the Agency or City may, at their respective sole option: a. Obtain such insurance and deduct and retain the amount of the premiums for such insurance from any sums due under this Agreement. b. Order the Contractor to stop work under this Agreement and/or withhold any payment(s) which become due to Contractor hereunder until Contractor demonstrates compliance with the requirements hereof. C. Terminate this Agreement. Exercise of any of the above remedies, however, is an, alternative to any other remedies the Agency or City may have and are not the exclusive remedies for Contractor's failure to maintain or secure appropriate policies or endorsements. J�1O G:\WPDOCS\Contracts\LQPalms Realty. wpd 6 Agreement for Contract Services Property Management Services La Quinta Palms Realty Nothing herein contained shall be construed as limiting in any way the extent to which Contractor may be held responsible for payments of damages to persons or property resulting from Contractor's or its subcontractors' performance of work under this Agreement. y i11 G:\WPDOCS\Contracts\LQPalmsRealty.wpd 7 Agreement for Contract Services Property Management Services La Quinta Palms Realty 6.0 RECORDS AND REPORTS. 6.1 Reports. Contractor shall periodically prepare and submit to the Contract Officer such reports concerning the performance of the services required by this Agreement as the Contract Officer shall require. 6.2 Records. Contractor shall keep such books and records as shall be necessary to perform the services required by this Agreement and enable the Contract Officer to evaluate the cost and the performance of such services. Books and records pertaining to costs shall be kept and prepared in accordance with generally accepted accounting principles. The Contract Officer shall have full and free access to such books and records at all reasonable times, including the right to inspect, copy, audit and make records and transcripts from such records. 6.3 Ownership of Documents. Originals of all drawings, specifications, reports, records, documents and other materials, whether in hard copy or electronic form, which are prepared by Contractor, its employees, subcontractors and agents in the performance of this Agreement, shall be the property of Agency and shall be delivered to Agency upon the termination of this Agreement or upon the earlier request of the Contract Officer, and Contractor shall have no claim for further employment or additional compensation as a result of the exercise by Agency of its full rights of ownership of the documents and materials hereunder. Contractor may retain copies of such documents for its own use. Contractor shall have an unrestricted right to use the concepts embodied herein. Contractor shall cause all subcontractors to assign to Agency any documents or materials prepared by them, and in the event Contractor fails to secure such assignment, Contractor shall indemnify Agency for all damages suffered thereby. 6.4 Release of Documents. The drawings, specifications, reports, records, documents and other materials prepared by Contractor in the performance of services under this Agreement shall not be released publicly without the prior written approval of the Contract Officer or as required by law. Contractor shall not disclose to any other private entity or person any information regarding the activities of the Agency, except as required by law or as authorized by the Agency. 7.0 ENFORCEMENT OF AGREEMENT. 7.1 California Law. This Agreement shall be construed and interpreted both as to validity and to performance of the parties in accordance with the internal laws of the State of California. Legal actions concerning any dispute, claim or matter arising out of or in relation to this Agreement shall be instituted in the Superior Court of the County of Riverside, State of California, or any other appropriate court in such 0 7 G AWPDOCS\Contracts\LQPalmsRealty.wpd 8 Agreement for Contract Services Property Management Services La Quinta Palms Realty county, and Contractor covenants and agrees to submit to the personal jurisdiction of such court in the event of such action. 7.2 Defaults. In the event of any default of the terms of this Agreement, the nondefaulting party shall give written notice of default to the party in default, and the party in default shall immediately commence to cure such default and shall prosecute such default to cure within thirty (30) days of receipt of the written notice of default; provided the time period to cure such default may be extended by the nondefaulting party in such party's sole and absolute discretion; provided, however, that if a default by Contractor causes an immediate danger to the health, safety and general welfare, the Agency may take such immediate action as the Agency deems warranted. Nothing herein shall limit Agency's right to terminate this Agreement with or without cause pursuant to Section 7.7. 7.3 Retention of Funds. Agency may withhold from any monies payable to Contractor sufficient funds to compensate Agency for any losses, costs, liabilities or damages it reasonably believes were suffered by Agency due to the default of Contractor in the performance of the services required by this Agreement. 7.4 Waiver. No delay or omission in the exercise of any right or remedy of a nondefaulting party on any default shall impair such right or remedy or be construed as a waiver. Agency's consent or approval of any act by Contractor requiring Agency's consent or approval shall not be deemed to waive or render unnecessary Agency's consent to or approval of any subsequent act of Contractor. Any waiver by either party of any default must be in writing and shall not be a waiver of any other default concerning the same or any other provision of this Agreement. 7.5 Rights and Remedies are Cumulative. Except with respect to rights and remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the parties are cumulative and the exercise by either party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other party. 7.6 Legal Action. In addition to any other rights or remedies, either party may take legal action, at law or at equity, to cure, correct or remedy any default, to recover damages for any default, to compel specific performance of this Agreement, to obtain injunctive relief, or to obtain any other remedy consistent with the purposes of this Agreement. 7.7 Termination by Agency Prior To Expiration Of Term. The Agency 07 ,J1-'31 G:\WPDOCS\Contracts\LQPalms Realty. wpd 9 Agreement for Contract Services Property Management Services La Quinta Palms Realty reserves the right to terminate this Agreement at any time, with or without cause, upon written notice to Contractor. Upon receipt of any notice of termination, Contractor shall immediately cease all services hereunder except such as may be specifically approved by the Contract Officer. Contractor shall be entitled to compensation for all services rendered prior to receipt of the notice of termination and for any services authorized by the Contract Officer thereafter in accordance with the Schedule of Compensation (Exhibit "C") or such as may be approved by the Contract Officer, except as provided in Section 7.3. 7.8 Agency Completion of Work. If termination by Agency prior to the expiration of the term is due to the failure of the Contractor to fulfill its obligations under this Agreement, Agency may take over the work and prosecute the same to completion by contract or otherwise, and the Contractor shall be liable to the extent that the total cost for completion of the services required hereunder exceeds the compensation herein provided; provided, however, that (i) the Agency shall first comply with Section 7.2, and (ii) the Agency shall use reasonable efforts to mitigate such damages. Nothing herein shall prevent or preclude Agency from withholding any payments to the Contractor for the purpose of setoff or partial payment of the amounts owed the Agency as provided in Section 7.3. 7.9 Termination by Contractor Prior to Expiration of Term. If Agency is in default and Contractor has complied with Section 7.2, and Agency's default remains uncured within the cure period provided therein, the Contractor may then terminate this Agreement by giving a thirty (30) day written notification to Agency. Contractor shall continue to perform the services required of it by this Agreement during such thirty (30) day period. Contractor shall be entitled to the compensation set forth in this Agreement for such thirty (30) day period. At the end of the thirty (30) day period this Agreement shall be terminated unless Agency has cured the noticed default prior to the end of the thirty (30) day period. Contractor shall be entitled to compensation for services rendered pursuant to this Agreement prior to the date of termination. 7.10 Attorneys' Fees. If either party commences an action against the other party arising out of or in connection with this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs of suit from the losing party. 8.0 AGENCY AND CITY OFFICERS AND EMPLOYEES; NON-DISCRIMINATION. 8.1 Non -liability of Agency and City Officers and Employees. No A4 G:\WPDOCS\Contracts\LQPalmsRealty.wpd 10 Agreement for Contract Services Property Management Services La Quinta Palms Realty officer, official, employee, agent, or representative the Agency or City shall be personally liable to the Contractor, or any successor in interest, in the event of any default or breach by the Agency or City or for any amount which may become due to the Contractor or to its successor, or for breach of any obligation of the terms of this Agreement. 8.2 Conflict of Interest. No officer, official, employee, agent, or representative of the Agency or City shall have any personal interest, direct or indirect, in this Agreement nor shall any such officer or employee participate in any decision relating to the Agreement which affects his personal interest or the interest of any corporation, partnership or association in which he is, directly or indirectly, interested, in violation of any State statute or regulation. The Contractor warrants that it has not paid or given and will not pay or give any third party any money or other consideration for obtaining this Agreement. 8.3 Covenant against Discrimination. Contractor covenants that, by and for itself, its heirs, executors, assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin, ancestry, or any other impermissible classification in the performance of this Agreement. Contractor shall comply with all applicable wage and labor laws and regulations all laws and regulations pertaining to nondiscrimination in employment. 9.0 MISCELLANEOUS PROVISIONS 9.1 Notice. Any notice, demand, request, consent, approval, communication either party desires or is required to give to the other party shall be in writing and delivered by one of the following means to the address shown forth below: (i) by personal delivery during regular business hours; (ii) by United States first class mail, certified, and prepaid; or (iii) by reputable same -day or overnight courier that provides a receipt showing date and time of delivery. Either party may change its address by notifying the other party of the change of address in writing. Notices personally delivered or delivered by courier shall be deemed effective upon receipt. Notices delivered by mail shall be effective as of Noon on the second business day following deposit with the United States Postal Service. 0 "1 j A G AWPDOCS\Contracts\LQPalmsRealty.wpd 1 1 Agreement for Contract Services Property Management Services La Quinta Palms Realty To Agency: LA QUINTA REDEVELOPMENT AGENCY 78-495 Calle Tampico La Quinta, California 92253 Attention: Jerry Herman To Contractor: LA QUINTA PALMS REALTY 51-001 Eisenhower Drive La Quinta, California 92253 Attention: Bruce Cathcart or James Cathcart 9.2 Integrated Agreement. This Agreement contains all of the agreements of the parties and all previous understandings, negotiations and agreements are integrated into and superseded by this Agreement. 9.3 Amendment. This Agreement may be amended at any time by the mutual consent of the parties by an instrument in writing signed by both parties. 9.4 Severability. In the event that any one or more of the phrases, sentences, clauses, paragraphs, or sections contained in this Agreement shall be declared invalid or unenforceable by a valid judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not effect any of the remaining phrases, sentences, clauses, paragraphs, or sections of this Agreement which are hereby declared as severable and shall be interpreted to carry out the intent of the parties hereunder. 9.5 Authority. The persons executing this Agreement on behalf of the parties hereto warrant that they are duly authorized to execute this Agreement on behalf of said parties and that by so executing this Agreement the parties hereto are formally bound to the provisions of this Agreement. [end — signature page follows] 0 r1 F G:\WPDOCS\Contracts\LQPaImsRealty.wpd 12 Agreement for Contract Services Property Management Services La Quinta Palms Realty IN WITNESS WHEREOF, the parties have executed this Agreement to be effective upon the latest of the dates set next to the signature of parties. Dated: ATTEST: JUNE S. GREEK, Agency Secretary APPROVED AS TO FORM: LA QUINTA REDEVELOPMENT AGENCY, a public body, corporate and politic 92 M. KATHRYN JENSON, Agency Counsel Dated: M TERRY HENDERSON, Chairman "AGENCY" LA QUINTA PALMS REALTY, a California Corporation Bruce Cathcart, Broker "CONTRACTOR" 077 J17 G:\WPDOCS\Contracts\LQPalmsRealty.wpd 13 Agreement for Contract Services Property Management Services La Quinta Palms Realty EXHIBIT "A-1 " SCOPE OF SERVICES Agency hereby retains Contractor to provide all residential property management services required to manage the Agency -owned properties listed on Exhibit A-2; said list may be expanded or reduced at the sole discretion of Agency. The residential property management services shall include, but not be limited to the following: 1. Project Administration 0 Monthly and annual financial record -keeping and reporting • Rent collection including late charges; miscellaneous tenant charges; and collection efforts on overdue accounts, excluding any costs incurred by Contractor's use of a bonded collection agency which shall be at the expense of the Agency • Creation and implementation of a procedure for the collection of past due rent payments • Vendor and subcontractor contracts. Invoices for payment by the Agency shall be submitted on a monthly basis • Monthly and annual project status reports • Notify tenants and governmental agencies of the change in management service • Market, advertise, and rent all vacant units 2. Coordinate and Comply with Public Housing Authority ("PHA") Regulations for • Obtaining new or replacement Section 8 tenants • Coordinating new tenant leases with the PHA • Reconciling monthly Housing Assistance Payments, including periodic revisions to the monthly amounts • Creation and implementation of a procedure for the collection of past due Housing Assistance Payments • Completing repair of deficiencies resulting from PHA's periodic property inspections 3. Tenant Matters • New tenant screening, including - credit check, personal references, employment verification, etc. • Monthly tenant rent collection, including late fees, if applicable • Pre move -in and move -out property inspections 09, G:\WPDOCS\Contracts\LQPalmsRealty.wpd 14 Agreement for Contract Services Property Management Services La Quinta Palms Realty • Eviction process (Agency's Executive Director to provide written direction to commence eviction and approval of selected law firm; the Agency to pay for such expenses) 4. Unit Maintenance • Receiving and processing tenant routine repair requests and emergency repair requests on a 24 hour basis, 7 days per week. If this task is subcontracted, the cost for administration of requests will be paid by the property manager. • Overseeing work provided by maintenance staff or subcontractor • Compliance with PHA periodic inspections • Receive repair requests and dispatch repair services in a timely manner • Conduct monthly drive -by inspections and periodic interior and exterior inspections when warranted. 5. Real Estate Sales • As units are vacant and local market conditions dictate, serve as the Agency's sales agent and handle the transactions necessary to sell the individual units to be made available for sale. The commission to be paid as part of this transaction will be no more than 3.0% of the sales price. Selection of available units for sale shall be at the sole and absolute discretion of the Agency. G:\WPDOCS\Contracts\LQPalms Realty. wpd 15 Agreement for Contract Services Property Management Services La Quinta Palms Realty "EXHIBIT A-2" - PROPERTY LIST Prop. # Address 1. 53-775 Ave. Alvarado 2. 54-245 Ave. Herrera 3. 53-825 Ave. Juarez 4. 53-275 Ave. Ramirez 5. 52-855 Ave. Ramirez 6. 54-280 Ave. Madero 7. 53-195 Ave. Alvarado 8. 53-365 Eisenhower Dr. 9. 53-523 Ave. Martinez 10. 53-541 Ave. Martinez 1 1 . 52-565 Eisenhower Dr. 12. 52-845 Ave. Villa 13. 51-805 Ave. Cortez 14. 52-635 Ave. Diaz 15. 53-105 Ave. Herrera 16. 53-275 Ave. Navarro 17. 51-395 Ave. Vallejo 18. 52-835 Ave. Villa 19. 52-195 Ave. Mendoza 20. 52-625 Ave. Rubio 21. 53-185 Ave. Navarro 22. 53-205 Ave. Navarro 23. 52-985 Ave. Carranza 24. 52-965 Ave. Carranza 25. 53-880 Ave. Navarro 26. 53-925 Ave. Martinez 27. 52-665 Ave. Ramirez 28. 53-195 Ave. Carranza 29. 52-425 Eisenhower Dr. 30. 52-225 Ave. Vallejo 31. 53-105 Ave. Obregon 32. 53-155 Ave. Obregon 33. 53-175 Ave. Obregon 34. 53-565 Ave. Vallejo 35. 54-300 Ave. Velasco 36. 52-985 Eisenhower Dr. 37. 53-760 Ave. Vallejo 38. 53-780 Ave. Vallejo 39. 53-940 Eisenhower Dr. 40. 53-795 Ave. Herrera 41. 53-965 Ave. Diaz 42. 52-830 Ave. Martinez 43. 53-785 Ave. Ramirez as(I 1M G:\WPDOCS\Contracts\LQPalms Realty. wpd Agreement for Contract Services Property Management Services La Quinta Palms Realty "EXHIBIT "B" SPECIAL REQUIREMENTS The Agency shall not release checks to Contractor or subcontractors that provide services under this Agreement unless or until they receive the necessary required business licenses or workers compensation coverage and provide the required Certificate(s) of Insurance. The Contractor shall utilize the services of subcontractors to perform certain duties under this Agreement. The Contractor will hire those subcontractors that provide quality services at the lowest possible price. If the expenditure amount in which a subcontractor will be used exceeds $1,000, the Contractor shall obtain three (3) phone bids. If the anticipated expenditures are estimated to exceed $2,000, then three (3) written bids shall be secured. However, should an emergency situation occur that will not provide adequate time for the bid process to be completed as described above, the Contractor shall select the subcontractor that can best provide the required services. The Contractor shall notify the Agency in any such emergency. G:\WPDOCS\Contracts\LQPalmsRealty.wpd 2 Agreement for Contract Services Property Management Services La Quinta Palms Realty EXHIBIT "C" SCHEDULE OF COMPENSATION Subject to services actually rendered, Agency shall compensate Contractor monthly based upon the following: 1 . Contractor shall receive a monthly fee of $1 10.00 per unit based upon the number of units managed and rented during each month. 2. Repair and maintenance costs incurred by Contractor, or any third party contractor, shall be submitted monthly to Agency for its review and payment directly to the service provider. 3. Extraordinary capital expenditures (excluding carpeting, painting, fixture or appliance replacement, garage door repair or replacement, HVAC repair or replacement, fence repair or replacement, door repair or replacement) in excess of five thousand dollars ($5,000) required on any one unit on a single occasion shall permit the Contractor to assess the Agency, subject to prior Agency review and approval, an additional construction management fee of five percent (5%) based upon the one time capital expenditure cost. 4. Agency shall pay Contractor a three percent (3%) commission on those home sales that Contractor is the procuring cause at the time of the recordation of the grant deed and close of escrow. Agency shall, at its sole discretion, determine which units are available for sale and shall advise Contractor in writing of the availability. G AWPDOCS\Contracts\LQPalmsRealty.wpd 3 EXHIBIT "D" SCHEDULE OF PERFORMANCE The Agreement between the Agency and Contractor provides for the following Schedule of Performance: 1. Term of Agreement - Contractor shall provide the stated services for two (2) years commencing upon the execution of the Agreement by Agency and Contractor. Said term is subject to earlier termination pursuant to the Agreement. 2. Contractor shall provide by the fifteenth (15th) day of every month a report showing all revenue and expenses incurred for every unit and a marketing report depicting all advertising, marketing, vacancies, leasing, and maintenance activity for the previous month. 3. Contractor shall provide an annual statement showing the previous year's operation by the fifteenth (15th) day of July during each fiscal year of this Agreement. 4. All maintenance requests including Public Housing Authority (PHA) requirements shall be accomplished in the quickest commercially feasible manner subject to Exhibit "B". 5. Contractor shall prepare for Agency's review and execution all monthly check disbursements and appropriate supporting materials for each disbursement by the tenth (10th) and twenty-fifth (25th) of every month. Contractor shall reconcile all check disbursements by the fifteenth (15th) of every month. o s� 394/015610-0040 Exhibit "D" j 2 249433.02 PM02 Page 1 of 1