RDA Resolution 2004-008
RESOLUTION NO. RA 2004-008
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, ! A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
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CITY OF LA QUINT A, CALIFORNIA, ADOPTING THE FISCAL
YEAR 2004/2005 CAPITAL BUDGET AND MAKING CERTAIN
FINDINGS PURSUANT TO HEALTH AND SAFETY CODE
SECTION 33445(8) AND AUTHORIZING THE EXPENDITURE
OF FUNDS FOR THE IMPROVEMENTS
WHEREAS, the City of La Quinta (the "City") intends to adopt a Capital
Improvement Plan (the UPlan"); and
WHEREAS, the Plan is a five-year planning instrument used by the City to identify
capital improvement needs and to coordinate financing and timing of those needs in a
manner that maximizes the return to the public; and
WHEREAS, the Plan is a statement of the City's goals, objectives and priorities for
a five-year Plan and the financial commitments required to accomplish those objectives;
and
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¡ WHEREAS, the Fiscal Year 2004/2005 through 2008/2009 Plan proposes
. approximately $11,591,892 in improvement projects and $60,374,086 of unfunded
additional improvement projects over the five-year period, commencing on July 1, 2004
and ending June 30, 2009; and
WHEREAS, the amount allocated from the Plan for first-year projects, called the
capital budget, proposes $10,458,076 in improvements; as shown in Exhibit 1,
heretofore made a part of this Resolution; and
WHEREAS, there is inadequate funding within the City's General Fund or from
other sources to completely and fully fund the improvements identified within the capital
budget; and
WHEREAS, the completion of the improvements identified within the capital budget
will help to obtain the goals and objectives of La Quinta Redevelopment Project Area No.
1 ("Project Area") as well as to afford an opportunity to eliminate conditions of blight in
the Project Area; and
WHEREAS, it would be in the best interest of the public to completely fund all
r-- improvements identified within the capital budget.
Resolution No. RA 2004-008
Capital Improvement Plan
Adopted: May 18, 2004
Page 2
NOW THEREFORE, BE IT RESOLVED, by the City of La Quinta Redevelopment
Agency:
SECTION 1. The above recitations are true and correct and are adopted as the
findings of the Agency Board.
SECTION 2. The Agency hereby authorizes Redevelopment Agency Project Area
No.1 funding be utilized to fund certain improvements within the Fiscal Year 2004/2005
Capital Budget.
SECTION 3. Pursuant to Health and Safety Code Section 33445(a), the Agency
finds and determines that:
A. The proposed improvements identified within the Fiscal Year 2004/2005 Capital
Budget are of benefit to the Redevelopment Agency Project Area No.1 and to the
immediate neighborhoods in which the improvements will be located.
B. No other reasonable means of financing the improvements are available to the
community.
C. The proposed improvements identified within the Fiscal Year 2004/2005 Capital
Budget will assist in the elimination of one or more blighting conditions inside
Project Area No.1 and are consistent with the La Quinta Redevelopment Agency's
implementation plan adopted pursuant to Section 33490.
BE IT FURTHER RESOLVED, the City of La Quinta Redevelopment Agency Board
authorizes the inclusion of said capital budget into the Fiscal Year 2004/2005 operating
budget, which appropriates funds for specific facilities, equipment and improvements.
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Redevelopment Agency held on this 18th day of May 2004, by the following vote to wit:
AYES: Members Adolph, Osborne, Perkins, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
NDERSON, Chair
Redevelopment Agency
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Resolution No. RA 2004-008
Capital Improvement Plan
Adopted: May 18, 2004
Page 3
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. ATTEST:
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J ¿11 JU S. GREEK, CMC, Agenc ecretary
C' 0 La Quinta Redevelopment Agency
(SEAL) .
APPROVED AS TO FORM:
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fVI. KA THE INE JENSON, gency Counsel
La Quinta Redevelopment Agency
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