CC Resolution 2002-142 RESOLUTION NO. 2002-142
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA APPROVING THE DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND BETWEEN THE LA
QUINTA REDEVELOPMENT AGENCY AND SENIOR
AFFORDABLE HOUSING CORP. NO. 3
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a public
body, corporate and politic, organized and existing under the Community
Redevelopment Law (California Health & Safety Code § 33000, et seq.) ("CRL") to
carry out the purposes of redevelopment in the City of La Quinta ("City"); and
WHEREAS, the Agency is engaged in activities necessary to execute and
implement the Redevelopment Plan for Project Area No. 2 ("Project Area"); and
WHEREAS, the Agency staff has negotiated a Disposition and
Development Agreement ("Agreement") by and between the Agency and Senior
Affordable Housing Corp. No. 3 ("Developer") pursuant to which the Agency proposes
to convey to the Developer certain real property located within the Project Area
("Property") for the sum of One Million Dollars ($1,000,000). In addition, pursuant
to the Agreement the Agency proposes to provide financial assistance to the Developer
not to exceed the sum of Eight Hundred Eighty-Seven Thousand Dollars ($887,000)
to be applied solely toward approved development and maintenance costs, as set forth
in the Agreement, and Developer is to redevelop the Property to construct a residential
apartment complex containing eighty (80) units ("Project"), 79 of which shall be
restricted for use as affordable units, which Project is consistent with the
Redevelopment Plan for the Project Area and the General Plan of the City; and
WHEREAS, Health & Safety Code § 33433 requires that the Agency
prepare a Summary Report prior to disposing of property located in a redevelopment
project area and that the Agency Board and City Council conduct a noticed joint public
hearing with respect to the Agreement, and that the approval of the Agreement be
accompanied by certain findings and determinations as set forth therein; and
WHEREAS, a Summary Report for the Agreement has been prepared and
the City Council has reviewed the Summary Report and has evaluated any other
information pertaining to the findings required thereto; and
WHEREAS, on the 15th day of October, 2002, the Agency and the City
Council held a joint public hearing on the proposed Agreement at which time the City
Council reviewed and evaluated all of the information, testimony and evidence
presented during the public hearing; and
Resolution No. 2002-142
Senior Affordable Housing Corp. No. 3
Disposition and Development Agreement
Adopted: October 15, 2002
Page 2
WHEREAS, the environmental impacts of the development of the Project
on the Property were previously evaluated in accordance with the requirements of the
California Environmental Quality Act, and no additional impacts not previously
addressed will result from this Agreement.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of
La Quinta as follows:
SECTION 1. That the above recitals are true and correct and incorporated herein.
SECTION 2. That the City Council does hereby find and determine as follows'
a. The Agreement effectuates the purposes of the CRL and the
Redevelopment Plan, is in the best interests and welfare of the City of La
Quinta, and is of benefit to the Project Area and the City of La Quinta, in
that the Agreement assists in the redevelopment of the Project Area by
the provision of needed affordable rental housing in the community for
persons and families of very-low income.
b. Lt,,he Agency's sale of the Property and its financial contribution to the
~roje. ct, will result in the provision of affordable housing and are
consmtent with the Agency's Second Five-Year Implementation, in that
the Implementation Plan identifies the provision of Iow and moderate
income housing opportunities as a goal and objective of the Agency.
c. The consideration for the Agency's disposition of the Property is not less
than the fair reuse value at the use and with the covenants and
conditions and development costs authorized by the sale.
SECTION 3. That the Agreement by and between Agency and Developer, a copy of
which is on file with the Secretary of the Agency, is hereby approved.
SECTION 4. That the Agency Executive Director and Agency Counsel are authorized
to make final modifications as may be necessary to finalize the Agreement, consistent
with the substantive terms approved hereby, and the Agency Executive Director is
authorized to thereafter sign the Agreement on behalf of the Agency. In addition to
the foregoing, the Agency Executive Director is hereby authorized to approve
amendments to the Agreement and its attachments that are required by the United
States Department of Housing and Urban Development as a condition to the
Developer's right to receive financing from HUD for the acquisition of the Property and
the development of the Project, provided that such amendments do not materially alter
the terms of the Agreement.
Resolution No. 2002-142
Senior Affordable Housing Corp. No. 3
Disposition end Development Agreement
Adopted: October 15, 2002
Page 3
SECTION 5. That the Agency Executive Director is authorized and directed, on behalf
of the Agency, to sign such other and further documents, that require the Agency's
signature, and to take such other and further actions, as may be necessary and proper
to carry out the terms of the Agreement.
SECTION 6. That the City Clerk shall certify to the adoption of this resolution in the
manner required by law.
PASSED, APPROVED, and ADOPTED by the City Council of the City of
La Quinta, California, this 15th day of October, 2002, by the following vote:
AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pe~a
NOES: None
ABSENT: None
ABSTAIN: None
~yH No ~aP~(~ u ~n't a~,, ~a~/f o r n i a
ATTEST:
JUNE~."GREEK, CMC, City
City of La Quinta, California
APPROVED AS TO FORM:
//I
M. 'KATI~IERINE JENSO/I~, City Attorne-'~y
City of La Quinta, Cal~ornia