CC Resolution 2002-069 RESOLUTION NO. 2002-69
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA MAKING CERTAIN FINDINGS
PURSUANT TO HEALTH AND SAFETY CODE SECTION
33445(a) AND CONSENTING TO THE EXPENDITURE OF
FUNDS TO FACILITATE THE PURCHASE OF THE RANCH
PROPERTY
WHEREAS, on the 15th day of May, 2001, the La Quinta City Council
(the "City Council") approved the 2001-02 Economic Development Plan which includes
implementation policies supporting economic diversification, business expansion,
economic protection and preservation, and recreational opportunities; and
WHEREAS, KSL Land Holdings, Inc. owns 525 acres of property (the
"The Ranch") located in La Quinta Redevelopment Project Area No. 1 (the "Project
Area") which is suitable to attain the aforementioned objectives; and
WHEREAS, on 16th day of April, 2002, the City Council made findings
pursuant to Health and Safety Code 33345 to approve use of funds from
Redevelopment Project Area No. 1 for an Option Agreement to allow the La Quinta
Redevelopment Agency (the "Agency") an opportunity to complete due diligence
activities related to acquiring The Ranch; and
WHEREAS, on 16th day of April, 2002 the Agency approved an Option
Agreement to allow the Agency an opportunity to complete due diligence activities
related to acquiring The Ranch; and
WHEREAS, the Agency has approved an Agreement of Purchase and Sale
and Joint Escrow Instructions (the "Agreement") that facilitates Agency purchase of
The Ranch; and
WHEREAS, the lack of recreational facilities and the prevalence of
economic maladjustment were documented as conditions of blight that justified the
formation of the Project Area, as cited in the October 1983 Report to the La Quinta
City Council on the Proposed Redevelopment Plan for La Quinta Redevelopment No.
1; and
WHEREAS, Section 518 of the Redevelopment Plan for La Quinta
Redevelopment Project No. 1, as amended by Amendment No. 1, authorizes the
Agency to purchase and improve property for park, recreation, cultural and community
facilities; and
WHEREAS, purchasing The Ranch would afford the Agency the
opportunity to address some of the aforementioned conditions of blight; and
Resolution No. 2002-69
"The Ranch"
Adopted: May 15, 2002
Page 2
WHEREAS, there is inadequate funding within the City's General Fund or
from other sources to acquire The Ranch; and
WHEREAS, it would be in the best interest of the public to pursue
acquisition of The Ranch.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
La Quinta, California as follows:
SECTION 1. The above recitations are true and correct and are adopted as the
findings of the City Council.
SECTION 2. Pursuant to Health and Safety Code Section 33445(a), the City
Council finds and determines that:
A. Exercising the option contained in the Option Agreement and entering into
the Agreement for the acquisition of The Ranch are of benefit to the Project Area and
to the immediate neighborhood in which The Ranch is located.
B. No other reasonable means of financing the Agreement are available to
the community.
C. The payment of funds for the Agreement and purchase of The Ranch will
assist in the elimination of one or more blighting conditions inside the Project Area,
including the lack of recreational facilities and opportunities, and is consistent with the
Agency's implementation plan adopted pursuant to Section 33490.
D. The City Council consents to the Agency appropriating and expending
funds to implement the terms of the Agreement and facilitate the acquisition of The
Ranch.
E. This Resolution shall take effect from and after its adoption.
PASSED, APPROVED and ADOPTED at a regular meeting of the City
Council of the City of La Quinta, California held on this 15th of May, 2002, by the
following vote:
AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pe~a
NOES: None
ABSENT: None
ABSTAIN' None
Resolution No. 2002-69
-- "The Ranch"
Adopted: May 15, 2002
Page 3
jOri! Jt PENA,~N/I~¥or
City ¢iff-,La Quintb', California
ATTEST:
JUNIOr. S~. (~REEK, CMC, City Cl~k
City of La Quinta, California
(Seal)
APPROVED AS TO FORM: