2002 07 16 RDAT4'y,, 4 w'*P Qum&
Redevelopment Agency Agendas are
available on the City's Web Page
@ www.la-quinta.org
Redevelopment Agency
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
Tuesday July 16, 2002 - 2:00 P.M.
Beginning Res. No. RA 2002-14
I. CALL TO ORDER
Roll Call:
Board Members: Adolph, Pena, Perkins, Sniff, Chairperson Henderson
II. 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.
III. CLOSED SESSION
CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MAF�K WEISS,
PURSUANT TO GOVERNMENT CODE SECTION 54956.9 CONCERNING POTENTIAL
TERMS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED AT
78-950 HIGHWAY 111 (APN 643-080-004), WAL-MART STORE. PROPERTY OWNER/
NEGOTIATOR: STAN ROTHBART, AND PROPERTY OWNER/NEGOTIATOR: SARAH
FOLLENWEIDER, ERNST AND YOUNG.
2. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MARK WEISS,
PURSUANT TO GOVERNMENT CODE SECTION 54956.9 CONCERNING POTENTIAL
TERMS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED ON THE
NORTH SIDE OF CALLE TAMPICO, WEST OF DESERT CLUB DRIVE, EMBASSY SUITES
(TENTATIVE PARCEL MAP 29909, PARCEL 8). PROPERTY OWNER/NEGOTIATOR:
DANNY BROWN, BISON HOTEL GROUP.
3. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MARK WEISS,
PURSUANT TO GOVERNMENT CODE SECTION 54956.9 CONCERNING POTENTIAL
TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY
LOCATED SOUTHEAST OF THE MILES AVENUE AND WASHINGTON STREET
INTERSECTION AND NORTH OF THE WHITEWATER CHANNEL (APN's 604-040-012/13
AND 604-040-022/023) PROPERTY OWNER/NEGOTIATOR: RICHARD OLIPHANT,
CALIFORNIA INTELLIGENT COMMUNITIES.
RDA Agenda
July 16, 2002
4. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MARK WEISS,
PURSUANT TO GOVERNMENT CODE SECTION 54956.9 CONCERNING POTENTIAL
TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY
LOCATED AT 79-999 OLD AVENUE 52. PROPERTY OWNER/NEGOTIATOR: JOANN
PELZ.
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.
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 THE SPECIAL MEETING OF JUNE 20, 2002.
2. MINUTES OF THE REGULAR MEETING OF JULY 2, 2002.
VII. CONSENT CALENDAR
Note: Consent Calendar items are considered to be routine in nature and will be approved by
one motion.
APPROVAL OF DEMAND REGISTER DATED JULY 16, 2002.
2. TRANSMITTAL OF TREASURER'S REPORT DATED MAY 31, 2002.
3. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED MAY 31, 2002, AND
INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING JUNE 30, 2002.
RDA Agenda -2- July 16, 2002 nn
ll
VI11. BUSINESS SESSION
1. CONSIDERATION OF A RESOLUTION APPROVING THE FISCAL YEAR 2002/2003
LA QUINTA REDEVELOPMENT AGENCY BUDGET AND A RESOLUTION DETERMINING
THE PLANNING AND ADMINISTRATION EXPENSES TO BE FUNDED IN FISCAL YEAR
2002/2003.
A. RESOLUTION ACTION(S)
IX. STUDY SESSION - None
X. DEPARTMENT REPORTS
Xi. CHAIR AND BOARD MEMBERS' ITEMS
XII. PUBLIC HEARINGS - None
XII. ADJOURNMENT - Adjourn to a regularly scheduled Meeting of the Redevelopment Agency to
be held on August 6, 2002, commencing with closed session at 2:00 p.m. and open session
at 3:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, CA 92253.
I
RDA Agenda -3- July 16, 2002
DECLARATION OF POSTING
I, June S. Greek, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the
foregoing agenda for the La Quinta Redevelopment Agency meeting of Tuesday, July 16, 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 Stater Bros. 78-630 Highway 1 1 1, on Friday, July 12,
2002.
DATED: July 12, 2002
JUNE S. GREEK, CIVIC
Agency Secretary, 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
00
RDA Agenda -4- July 16, 2002
TW!t 4 4Qur«rw
AGENDA CATEGORY:
BUSINESS SESSION
COUNCIL/RDA MEETING DATE: JULY 16, 2002
CONSENT CALENDAR
ITEM TITLE:
STUDY SESSION
Demand Register Dated July 16, 2002 PUBLIC HEARING
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated July 16, 2002 of which $485,361.18
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
Tdy 4 4 Qum&
COUNCIL/RDA MEETING DATE: ,July 16, 2002
ITEM TITLE:
Transmittal of Treasurer's Report
dated May 31, 2002
RECOMMENDATION:
It is recommended the La Quinta Redevelopment Agency:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Treasurer's Report dated May 31, 2002.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
T4'yl 4 4 Q"
COUNCIL/RDA MEETING DATE: July 16, 2002
ITEM TITLE:
Transmittal of Revenue and
Expenditure Reports dated
May 31, 2002 and Investment
Summary Report for the Quarter
Ending June 30, 2002
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 13
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the May 31, 2002 Statement of Revenue and Expenditures for the La
Quinta Redevelopment Agency and Investment Summary Report for the Quarter Ending
June 30, 2002.
espectfully submitted,
ohn M. Falconer, Finance Director
Approved for submission
Thomas P. Genovese, City Manager
Attachments 1 : Revenue and Expenditures Report, May 31, 2002
2: Investment Summary for the Quarter Ending June 30, 2002
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
LOWIMODERATE 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 LOWIMOD BOND
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
16,822,503.00
17,380,749.99
(558,246.99)
103.320%
74,192.73
(74,192.73)
0.000%
98,960.38
95,238.16
3,722.22
96.240%
446,142.00
0.00
446,142.00
0.000%
11,109,589.00
10,349,589.15
759,999.85
93.160%
28,477,194.38
27,899,770.03
577,424.35
97.970%
58,353.62
(58,353.62)
0.000%
125,000.00
684,973.34
(559,973.34)
547.980%
0.00
0.00
0.000%
88,000,000.00
48,000,000.00
40,000,000.00
54.550%
0.00
0.00
0.000%
88,125,000.00
48,743,326.96
39,381,673.04
55.310%
4,205,626.00
4,345,187.50
(139,561.50)
103.320%
50,000.00
28,206.01
21,793.99
56.410%
0.00
0.00
0.000%
1.00
(1.00)
0.000%
0.00
0.00
0.000%
341,000.00
290,544.52
50,455.48
85.200%
150,000.00
0.00
150,000.00
0.000%
0.00
0.00
0.000%
45,812.19
(45,812.19)
0.000%
28,036.21
(28,036.21)
0.000%
0.00
0.00
0.000%
4,746,626.00
4,737,787.43
8,838.57
99.810%
0.00
0.00
0.000%
0.00
0.00
0.000%
60,874.04
(60,874.04)
0.000%
0.00
0.00
0.000%
0.00 60 874.04
(60,874.04)
0.000%
vL3
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO. 1:
DEBT SERVICE FUND:
SERVICES
BOND PRINCIPAL
BOND INTEREST
INTEREST - ERAFLOAN
INTEREST CITY ADVANCE
INTEREST - ERAFLOAN
PASS THROUGH PAYMENTS
TRANSFERS OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
PERSONNEL
SERVICES
SEWER ASSESSMENTS
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
07/01/2001-05/31/2002 REMAINING o/
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
249,834.00
281,492.10
0.00
(31,658.10)
112.7%
1,486,277.00
1,486,277.00
0.00
0.00
100.0%
4,623,726.00
4,481,934.00
0.00
141,792.00
96.9%
511.903.00
0.00
0.00
511,903.00
0.0%
446,142.00
408,963.50
0.00
37,178.50
91.7%
248,097.00
0.00
0.00
248,097.00
0.0%
16,759,956,00
16,517,583.61
0.00
242,372.39
98.6%
0.00
0.00
0.00
0.0%
24 325 935.00
23 176 250.21
0.00
1,149,684.79
95.3%
10,050.00
6,847.14
0.00
3,202.86
68.1%
191,079.00
100,263.29
0.00
90,815.71
52.5%
50,000.00
0.00
0.00
50,000.00
0.0%
0.00
0.00
0.00
0.00
0.0%
0.00
0.00
0.00
0.00
&0%
339,558.00
42,600.00
0.00
296,958.00
12.5%
0.00
0.00
0.00
0.00
0.0%
3,577,801.40
1,939,725.25
0.00
1,638,076.15
54.2%
1,085,485.00
995,024.69
0.00
90,460.31
91.7%
58,611,734.00
12,295,745.30
0.00
46,315,988.70
21.0%
63 865 707.40
15 380 205.67
0.00
48 485 501.73
24.1 %
10,050.00
6,847.14
0.00
3,202.86
68.1%
239,315.00
176,747.10
0.00
62,567.90
73.9%
445,000.00
112,345.91
0.00
332,654.09
25.2%
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
406,910,60
0.00
422,089.40
49.1%
2,785,077.00
2,562,303.00
0.00
222,774,00
92.0%
200,000.00
11,525.50
0.00
188,474.50
5.8%
350,000.00
73,589.42
0.00
276,410.58
21.0%
206,366.00
189,168.76
0.00
17,197.24
91.7%
3,951,649.00
1,737,006.27
0.00
2,214,642.73
44.0%
9,297,457.00
5,449,143.70
0.00
3,848,313.30
58.6%
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%
832,930.46 832,930.46
0.00
0.00
100.0%
832 930.46 832 930.46
0.00
0.00
100.0%
vu4.
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
LOWIMODERATE TAX FUND:
Tax Increment
Developer Funding
Allocated Interest
Non Allocated Interest
Sale of Land
Transfer In
TOTAL LOWIMOD TAX
LOWIMODERATE BOND FUND:
Allocated Interest
Non Allocated Interest
Transfer In
TOTAL LOW/MOD BOND
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
7,364,440.00
7,646,274.61
(281,834.61)
103.830%
17,521.05
(17,521.05)
0.000%
397.96
(397.96)
0.000%
692,211.00
0.00
692,211.00
0.000%
338,442.00
338,442.00
0.00
100.000%
8,395,093.00
8,002,635.62
392,457.38
95,330%
61,522.58
(61,522.58)
0.000%
20,000.00 2,180.09
17,819.91
10.900%
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 63,702.67
1,056,297.33
5.690%
1,841,110.00 1,911,568.63
(70,458.63)
103.830%
0.00
0.00
0.000%
20,700.00 90,340.66
(69,640.66)
436.430%
0.00
0.00
0.000%
0.00
0.00
0.000%
0.00
0.00
0.000%
1,861,810.00 2001909.29 (140,099.29) 107.520%
0.00 0.00 0.000%
16,259.79 (16,259.79) 0.000%
0.00 0.00 0.000%
0.00 16,259.79 (16,259.79) 0.000%
0t,5
LA QUINTA REDEVELOPMENT AGENCY
07/01/2001-05/31/2002
REMAINING
EXPENDITURE SUMMARY
BUDGET EXPENDITURES
ENCUMBERED
BUDGET
EXPENDED
PROJECT AREA NO. 2:
DEBT SERVICE FUND:
SERVICES
94,120.00
122,083.20
0.00
(27,963.20)
129.7%
BOND PRINCIPAL
163,723.00
163,723.00
0.00
0.00
100.0%
BOND INTEREST
593,968.00
593,967.75
0.00
0.25
100.0%
INTEREST CITY ADVANCE
692,211.00
634,526.75
0.00
57,684.25
91.7%
INTEREST - ERAF LOAN
0,00
0.00
0.00
0.00
0.0%
PASS THROUGH PAYMENTS
6.257,252.00
4,710,424.84
0.00
1,546,827.16
75.3%
TRANSFERS OUT
0.00
0.00
0.00
0.00
0.0%
TOTAL DEBT SERVICE
7,801,274.00
6,224,725.54
0.00
1,576,548.46
79.8% _
CAPITAL IMPROVEMENT FUND:
PERSONNEL
5,950.00
4,143.66
0.00
1,806.34
69.6%
SERVICES
119,164,00
56,186.51
0.00
62,977.49
47.2%
ECONOMIC DEVELOPMENT ACTIVITY
130,072.00
51,447.02
4,870.00
73,754.98
39.6%
REIMBURSEMENT TO GEN FUND
34,092.00
31,249.79
0.00
2,842.21
91.7%
TRANSFERS OUT
1,353,442.00
1,980,515.76
0.00
(627,073.76)
146.3%
TOTAL CAPITAL IMPROVEMENT
1,642,720.00
2,123, 442.74
4,870.00
(485 692.74)
129.3%
LOW/MODERATE TAX FUND:
PERSONNEL
5,950.00
4,143.66
0.00
1,806.34
69.6%
SERVICES
159,959.00
348,777.08
0.00
(188,818.08)
218.0%
SEWER SUBSIDIES
85,000.00
15,012.00
0.00
69,988.00
17.7%
LQ RENTAL PROGRAM
949,923.00
47,125.00
6,400.00
896,398,00
5.0%
LOW MOD HOUSING PROJECTS
755,806.00
110,379.30
0.00
645,426.70
14.6%
REIMBURSEMENT TO GEN FUND
71,258.00
65,319,76
0.00
5,938.24
91.7%
TRANSFERS OUT
2,787,701.44
503,009.75
0.00
2,284,691.69
18.0%
TOTAL LOW/MOD TAX
4,815,597.44
1 093 766.55
6,400.00
3,715,430.89
22.7%
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
2,582,881.00
223,916.54
0.00
2,358,964.46
8.7%
TOTAL LOW/MOD BOND
2,582,981.00
223 916.54
0.00
2,358 964.46
8.7%
V U' 0
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AGENDA CATEGORY:
BUSINESS SESSION: /
COUNCIL/RDA MEETING DATE: July 16, 2002 CONSENT CALENDAR:
ITEM TITLE•
Consideration of a (1) Resolution
Approving the Fiscal Year 2002-2003
La Quinta Redevelopment Agency Budget
And a (2) Resolution Determining the Planning
And Administration Expenses to be Funded
In Fiscal Year 2002-03
RECOMMENDATION:
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution of the City Council approving the Fiscal Year 2002-2003 City of
La Quinta Redevelopment Agency Budget and determining the planning and
administration expenses to be funded in Fiscal Year 2002-03.
FISCAL IMPLICATIONS:
All Fiscal Year 2002-2003 revenues, operational appropriations and capital project
funding are included in the Proposed Fiscal Year 2002-2003 City of La Quinta Budget.
The City provides planning and administration expenses on behalf of the
Redevelopment Agency. As a result of the recent State Housing and Community
Development review, they have requested a separate resolution approving the City
provided planning and administration expenses.
BACKGROUND AND OVERVIEW:
See City Council Staff Report
RESOLUTION NO. RA 2002-
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY
APPROVING A BUDGET FOR FISCAL YEAR 2002-2003
WHEREAS, each year the La Quinta Redevelopment Agency adopts a Budget
for Revenues and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the La Quinta Redevelopment Agency desires to make provisions for
a level of services commensurate with the needs of the City; and
WHEREAS, the La Quinta Redevelopment Agency has reviewed said budget and
has had several public meetings to receive public input; and
WHEREAS, the La Quinta Redevelopment Agency has, after due deliberation
and consideration, made such amendments in the proposed budget as it considers
desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Redevelopment Agency
to adopt, as follows:
SECTION 1. The Fiscal Year 2002-2003 Budget which is on file with the La
Quinta Redevelopment Agency Secretary, is hereby approved.
SECTION 2. Continuing Appropriations which remain unspent and were
authorized by Council in Fiscal Year 2001-02, are approved in the Fiscal Year
2002/2003 Budget in an amount not to exceed $1,267,305 ( Attachment 1).
SECTION 3. Encumbrances for Fiscal Year 2000-01 for committed
appropriations are approved in the Fiscal Year 2001-02 budget in an amount not to
exceed $17,682 (Attachment 2).
SECTION 4. Budget adjustment procedures are approved as follows:
A. Additional appropriations and the transfer of cash or
unappropriated fund balance from one fund to another shall be
made only upon Redevelopment Agency approval.
B. Transfers of budgeted appropriations between divisions or capital
projects shall be made only upon Redevelopment Agency approval.
C. Transfers of budgeted appropriations between accounts within a
division or capital project may be made with the approval of the
Executive Director or his designee.
D. Prior year budget continuing Appropriations and Encumbrances for
unexpended capital project appropriations remaining from
uncompleted prior year capital projects shall be made with
Executive Director approval. These carry-over appropriations are
for prior year Redevelopment Agency approved capital projects and
shall not exceed the approved project budget.
SECTION 4. The Executive Director shall render a monthly report to the La
Quinta Redevelopment Agency Board on the status of Agency operations as it relates
to the approved budget and any amendments thereto.
PASSED, APPROVED AND ADOPTED this 161" day of July, 2002, by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
TERRY HENDERSON, Chair
La Quinta Redevelopment Agency
ATTEST:
JUNE GREEK, Agency Secretary
La Quinta Redevelopment Agency
APPROVED AS TO FORM:
KATHY JENSON, Agency Counsel
La Quinta Redevelopment Agency
vv3
RESOLUTION NO. RA 2002 -
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF LA QUINTA DETERMINING THAT THE
PLANNING AND ADMINISTRATION EXPENSES TO BE
FUNDED IN FISCAL YEAR 2002-03 BY THE LOW AND
MODERATE INCOME HOUSING FUND ARE NECESSARY
FOR THE PRODUCTION, IMPROVEMENT AND/OR
PRESERVATION OF AFFORDABLE HOUSING FOR LOW
AND MODERATE INCOME HOUSEHOLDS
WHEREAS, the City Council of the City of La Quinta has heretofore adopted the
Redevelopment Plan for Project Area 1 on December 29, 1983 by Ordinance
No. 43; and
WHEREAS, the City Council of the City of La Quinta has heretofore adopted the
Redevelopment Plan for the Project Area 2 on May 16, 1989 by Ordinance No.
139 and
WHEREAS, pursuant to Section 33334.2(a) of the California Community
Redevelopment Law (Health and Safety Code Section 33000 et seq.) not less
than 20% of all taxes which are allocated to the Agency shall be set aside by
the Agency in a Low and Moderate Income Housing Fund and used by the
Agency for the purpose of increasing, improving and preserving the
community's supply of low- and moderate income -housing available at
affordable housing costs to people and families of low -and moderate income,
and
WHEREAS, pursuant to Section 33334.3 (d) of the California Community
Redevelopment Law (Health and Safety Code Section 33000 et seq.) it is the
intent of the California State Legislature that the amount of money spent for
planning and general administration from the Low and Moderate Income Housing
Fund not be disproportionate to the amount actually spent for the cost of
production;
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City
of La Quinta as follows:
"Lp 4
1. The Agency hereby determines that it is necessary to allocate $277,783 of
the estimated $6,110,947 2002-03 Affordable Housing Budget for the
planning and administrative expenses necessary for the production,
improvement, and or preservation of low -and moderate -income housing
during the 2002-03 fiscal year.
2. That the City Clerk shall certify to the passage and adoption of this
resolution and enter it into the book of original resolutions.
PASSED, APPROVED and ADOPTED this 16th day of July 2002, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
TERRY HENDERSON, Chair
La Quinta Redevelopment Agency
ATTEST:
JUNE S. GREEK, Authority Secretary
La Quinta Redevelopment Agency
(Authority Seal)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Agency Counsel
La Quinta Redevelopment Agency
ATTACHMENT 1
La Quinta Redevelopment Agency
Fiscal Year 2002/03 Continuing Appropriations
10-J u I-2002
Department
Account
Description
Continuing
Appropriation
Community Development
245-903-684-000
Apartment Rehabilitation
276,000
246-906-684-000
47th/Adams Project
598,000
246-906-685-000
47th/Adams Planning
50,000
405-902-692-000
Market Study PA 1
35,000
405-902-692-000
Recreational Opportunities
100,000
405-902-955-000
Bond Issuance Costs
199,880
406-905-692-000
Market Study PA 2
8,425
Total
1,267,305
Note 1 - The appropriations listed will be adjusted to reflect actual expenditures as of June
30, 2002
G` 7
v
ATTACHMENT 2
La Quinta Redevelopment Agency
Fiscal Year 2002/03 Carry-over encumbrances
Department
Community Development
,Total
Account
405-902-692-000
Description
CPIP Program
Encumbrances
17,682
17,682
Note 1 - The encumbrances listed will be adjusted to reflect actual expenditures as of
June 30, 2002
v 'v 8