2004 12 21 RDAeaf 444AM
Redevelopment Agency Agendas are
Available on the City's Web Page
@ www.la-quinta.org
REDEVELOPMENT AGENCY
AGENDA,
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
Tuesday, December 21, 2004 - 2:00 P.M.
Beginning Resolution No. RA 2004-019
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Osborne, Perkins, Sniff, and 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
NOTE: Time permitting, the Redevelopment Agency Board may conduct Closed Session
discussions during the dinner recess. In addition, persons identified as negotiating parties
are not invited into the Closed Session meeting when the Agency is considering acquisition
of real property.
1. CONFERENCE WITH THE 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 KNOWN AS PARCELS 1, 2, AND 3 OF PARCEL 29909, LOCATED
AT THE NORTHWEST CORNER OF CALLE TAMPICO AND DESERT CLUB DRIVE.
PROPERTY OWNER/NEGOTIATORS: SANTA ROSA PLAZA, LLC AND EMBASSY
SUITES LA QUINTA.
Redevelopment Agency Agenda
December 21, 2004
RECONVENE AT 3:00 P.M.
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 should be filed with the City Clerk prior to the Agency beginning
consideration of that item.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF MINUTES OF DECEMBER 7, 2004
2. APPROVAL OF MINUTES OF SPECIAL MEETING OF DECEMBER 13, 2004
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 DECEMBER 21, 2004.
2. TRANSMITTAL OF TREASURER'S REPORT DATED OCTOBER 31, 2004.
3. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED OCTOBER 31,
2004.
4. APPROVAL OF LA QUINTA REDEVELOPMENT AGENCY FINANCIAL REPORTS IN
ACCORDANCE WITH SECTION 33080 OF THE HEALTH AND SAFETY CODE.
5. APPROVAL OF ANNUAL CONTINUING DISCLOSURE FOR THE LA QUINTA
REDEVELOPMENT AGENCY 1998, 2001, 2002, 2003, AND 2004 TAX
ALLOCATION BONDS FOR FISCAL YEAR ENDING JUNE 30, 2004.
6. APPROVAL TO AWARD A CONTRACT FOR THE SilverRock RESORT IRRIGATION
WELL, PROJECT NO. 2002-07J.
Redevelopment Agency Agenda 2 December 21, 2004
7. APPROVAL OF A CONTRACT AMENDMENT WITH THE KEITH COMPANIES FOR
SURVEY SUPPORT OF PERIMETER LANDSCAPE IMPROVEMENTS FOR SilverRock
RESORT.
8. APPROVAL OF A CONTRACT SERVICES AGREEMENT WITH BRICKLEY
ENVIRONMENTAL TO REMOVE ASBESTOS MATERIAL FOUND IN MOBILE HOMES
AT THE VISTA DUNES MOBILE HOME PARK PRIOR TO THE DEMOLITION OF THE
MOBILE HOMES.
9. APPROVAL OF A CONTRACT SERVICES AGREEMENT WITH EMERY
LANDCLEARING AND GRADING TO DEMOLISH AND REMOVE VACATED MOBILE
HOMES FROM THE VISTA DUNES MOBILE HOME PARK.
BUSINESS SESSION - NONE
STUDY SESSION - NONE
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS
1. A JOINT PUBLIC HEARING BETWEEN THE CITY COUNCIL AND REDEVELOPMENT
AGENCY TO APPROVE AN AGREEMENT TO SELL REAL PROPERTY LOCATED AT
78-310 DESERT FALL WAY BY AND BETWEEN THE LA QUINTA REDEVELOPMENT
AGENCY AND FELIX PEREZ.
A. MINUTE ORDER ACTION
2. A JOINT PUBLIC HEARING BETWEEN THE CITY COUNCIL AND REDEVELOPMENT
AGENCY TO APPROVE AN AGREEMENT TO SELL REAL PROPERTY LOCATED AT
52-830 AVENIDA MARTINEZ BY AND BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AND DANIELLE DAVENPORT.
A". MINUTE ORDER ACTION
ADJOURNMENT
Adjourn to a regularly scheduled meeting of the Redevelopment Agency to be held on
January 4, 2005 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, La Quinta, CA 92253.
Redevelopment Agency Agenda 3 December 21, 2004
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 Tuesday, December 21,
2004, was posted on the outside entry to the Council Chamber at 78-495 Calle Tampico
and on the bulletin boards at 51-321 Avenida Bermudas and 78-630 Highway 111, on
Friday, December 17, 2004.
DATED: December 17, 2004
M
JUNE S. GREEK, CIVIC, City Clerk
City of La Quinta, California
Redevelopment Agency Agenda 4 December 21, 2004
COUNCE U/RDA MEETING DATE: DECEMBER 21, 2004
ITEM TITLE:
Demand Register Dated December 21, 2004
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
AGENDA CATEGORY:
BUSINESS SESSION
CONSENT CALENDAR
STUDY SESSION
PUBLIC HEARING
Receive and File the Demand Register Dated December 21, 2004 of which $490,503.57
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
v
Iry
a
c� OF
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: December 21, 2004
BUSINESS SESSION:
ITEM TITLE: Transmittal of Treasurer's Report
dated October 31, 2004 CONSENT CALENDAR: o..
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
4
OF
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: December 21, 2004
BUSINESS SESSION:
ITEM TITLE: Transmittal of Revenue and Expenditure
Report dated October 31, 2004 CONSENT CALENDAR: .3
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the October 31, 2004 Statement of Revenue and Expenditures for the
La Quinta Redevelopment Agency.
Respectfully submitted,
J11A I 1
ohn M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures, October 31, 2004
ATTACHMENT 1
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO.1:
LOW/MODERATE BOND FUND:
Allocated Interest
Home Sale Proceeds
Non Allocated Interest
Transfer In
TOTAL LOWIMOD BOND
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
2nd Trust Deed Repayment
Transfer In
TOTAL LOWIMOD TAX
DEBT SERVICE FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Interst - County Loan
Interest Advance Proceeds
Transfers In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
Pooled Cash Allocated Interest
Non Allocated Interest
Litigation Settlement Revenue
Loan Proceeds
Rental Income
Transfers In
TOTAL CAPITAL IMPROVEMENT
CAPITAL IMPROVEMENT FUND - TAXABLE
Pooled Cash Allocated Interest
Non Allocated Interest
Litigation Settlement Revenue
Bond proceeds
Rental Income
Transfers In
TOTAL CAPITAL IMPROVEMENT
REMAINING
BUDGET RECEIVED BUDGET
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
6,246,300.00
0.00
6,246,300.00
20,800.00
0.00
20,800.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
341,000.00
86,706.00
254,294.00
165,000.00
169,269.72
(4,269.72)
165,000.00
0.00
165,000.00
0.00
30,063.33
(30,063.33)
0.00
83,987.34
(83,987.34)
0.00
391,746.50
(391,746.50)
0.00
0.00
0.00
6,938,100.00
761,772.89
6,176,327.11
24,985,400.00
0.00
24,985,400.00
66,000.00
(17.03)
66,017.03
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2,478,347.00
511 141.52
1,967,205.48
27,529,747.00
511,124.49
27,018,622.51
0.00
0.00
0.00
0.00
159,643.35
(159,643.35)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
159,643.35
(159,643,35)
0.00
0.00
0.00
0.00
26,621.67
(26,621.67)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
26,621.67
(26,621.67)
2
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO.2:
LOWIMODERATE BOND FUND:
Allocated Interest
Non Allocated Interest
Bond proceeds (net)
Transfer In
TOTAL LOW/MOD BOND
LOWIMODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Developer funding
Vista Dunes MHP Rental Rev
2nd Trust Deed Repayment
ERAF Shift - Interest
Sale of Land
Transfer In
TOTAL LOW/MOD TAX
2004 LOWIMODERATE BOND FUND:
Allocated Interest
Home Sale Proceeds
Non Allocated Interest
Transfer In
TOTAL LOW/MOD BOND
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
TOTAL CAPITAL IMPROVEMENT
REVENUE
GRAND TOTALS PER REPORT
REMAINING
BUDGET RECEIVED BUDGET
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3,115,000.00
0.00
3,115,000.00
24,100.00
0.00
24,100.00
0.00
0.00
0.00
7,054,074.00
0.00
7,054,074.00
0.00
124,451.02
(124,451.02)
0.00
86,503.33
(86,503.33)
0.00
0.00
0.00
801,358.00
801,359.00
(1.00)
0.00
0.90
0.00
10,994,532.00
1,012,313.35
9,982,218.65
0.00
0.00
0.00
0.00
0.00
0.00
0.00
320,073.25
(320,073.25)
0.00
0.00
0.00
0.00
320,073.25
(320,073,25)
12,459,800.00
0.00
12,459,800.00
0.00
0.00
0.00
0.00
(5.35)
5.35
0.00
0.00
0.00
4,099,819.00
254,904.01
3,844,914.99
16,559,619.00
254,898.66
16,304,720.34
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
REMAINING
BUDGET RECEIVED BUDGET
175,342,524.00 34,293,250.68 141,049,273.32
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO, 1:
LOWIMODERATE BOND FUND
LOWIMODERATE TAX FUND:
PERSONNEL
SERVICES
REIMBURSEMENT TO GEN FUND
HOUSING PROJECTS
TRANSFERS OUT
TOTAL LOWIMOD BOND
07/0112004.9130104 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PERSONNEL
4,900.00
2,239.60
0.00
2,660.40
SERVICES
253,157.00
43,745.39
0.00
209,411.61
BUILDING HORIZONS
250,000.00
75,000.00
0.00
175,000.00
LQ RENTAL PROGRAM
150,000.00
70,382.21
0.00
79,617.79
LQ HOUSING PROGRAM
3,118,240.00
65,000.00
0.00
3,053,240.00
LOWMOD VILLAGE APARTMENTS
400,000.00
0.00
0.00
400.000.00
LQRP - REHABILITATION
0.00
0.00
0.00
0.00
APT REHABILITATION
276,411.00
54,847.68
0.00
221,563.32
LQ HOUSING PROJECTS
500,000.00
265,000.00
0.00
235,000.00
REIMBURSEMENT TO GEN FUND
668,272.00
222,757.36
0.00
445,514.64
TRANSFERS OUT
2,478,347.00
511,141.52
0.00
1,967,205.48
TOTAL LOWIMOD TAX
8,099,327.00
1,310,113.76
0.00
6,7 9,213.24
DEBT SERVICE FUND:
SERVICES
496,585.00
16,937.99
0.00
479,647.01
BOND PRINCIPAL
2,395,000.00
2,395,000.00
0.00
0.00
BOND INTEREST
7,929,969.00
3,991,656.13
0.00
3,938,312.87
INTEREST CITY ADVANCE
952,764.00
317,588.00
0.00
635,176.00
PASS THROUGH PAYMENTS
11,903,406.00
359,462.25
0.00
11,543,943.75
ERAF SHIFT
3,000,000.00
0.00
0.00
3,000,000.00
TRANSFERS OUT
1,995,101.00
511,141.52
0.00
1,483,959.48
TOTAL DEBT SERVICE
28,672,825.00
7,591,785.89
0.00
21, 1,039.11
CAPITAL IMPROVEMENT FUND:
PERSONNEL
4,900.00
1,694.45
0.00
3,205.55
SERVICES
116,393.00
26,939.63
0.00
89,453.37
LAND ACQUISITION
0.00
0.00
0.00
0.00
ASSESSMENT DISTRICT
0.00
0.00
0.00
0.00
ADVERTISING -ECONOMIC DEV
40,000.00
6,500.00
0.00
33,500.00
ECONOMIC DEVELOPMENT
50,000.00
11,554.74
0.00
38,445.26
BOND ISSUANCE COSTS
0.00
0.00
0.00
0.00
CAPITAL - BUILDING
0.00
0.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
396,013.00
97,469.00
0.00
298,544.00
TRANSFERS OUT
38,206,093.00
4,708,577.03
0.00
33,497,515.97
TOTAL CAPITAL IMPROVEMENT
38,813,399.00
4,852,734.85
0.00
33,960,664.15
CAPITAL IMPROVEMENT FUNDITAXABLE BOND
BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00
TRANSFERS OUT 5,666,764.00 2,424,009.35 0.00 3,242,754.65
TOTAL CAPITAL IMPROVEMENT 5,666,764.00 2,424,009.35 0.00 3,242,754.65
10
4
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO.2:
LOWIMODERATE BOND FUND
LOWIMODERATE TAX FUND:
2004 LOWIMODERATE BOND FUND
DEBT SERVICE FUND:
07/01/2004 - 9130/04 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
2nd TRUST DEEDS
0.00
0.00
0.00
0.00
LAND
0.00
0.00
0.00
0.00
BOND ISSUANCE COSTS
0.00
0.00
0.00
0.00
TRANSFERS OUT
0.00
0.00
0.00
0.00
TOTAL LOW/MOD BOND
0.00
0.00
.00
0.00
PERSONNEL
2,900.00
1,025.39
0.00
1,874.61
SERVICES
192,088.00
73,747.64
0.00
118,340.36
2ND TRUST DEEDS
500,000.00
0.00
0.00
500,000.00
2ND TRUST DEEDS FROM CENTERPOINTE
2,520,000.00
0.00
0.00
2,520,000.00
48TH AND ADAMS - FROM CENTERPOINTE
1,423,203.00
7,058.20
0.00
1,416,144.80
WASH/MILES PROJECT
0.00
5,317.50
0.00
(5,317.50)
VISTA DUNES MOBILE HOME PARK
0.00
103,598.66
0.00
. (103,598.66)
LOW MOD HOUSING PROJECT/47TH/ADAMS PROJ
776,239.00
44,351.00
0.00
731,888.00
48TH/ADAMS PLANNING
150,000.00
0.00
0.00
150,000.00
FORECLOSURE ACQUISITION
150,000.00
0.00
0.00
150,000.00
REIMBURSEMENT TO GEN FUND
333,272.00
111,090.64
0.00
222,181.36
TRANSFERS OUT
7,350,044.00
2,128,976.77
0.00
5,221,067.23
TOTAL LOW/MOD TAX
13,397,7 .00
2,475,165.80
0.00
10,922,580.20
2nd TRUST DEEDS
0.00
0.00
0.00
0.00
LAND
0.00
0.00
0.00
0.00
BOND ISSUANCE COSTS
0.00
0.00
0.00
0.00
TRANSFERS OUT
1,800,965.00
17,402.33
0.00
1,783,562.67
TOTAL LOWIMOD BOND
1,800,965.00
17,402.33
0.00
1,7 3,562.67
SERVICES
179,013.00
3,025.00
0.00
175,988.00
BOND PRINCIPAL
95,000.00
95,000.00
0.00
0.00
BOND INTEREST
323,264.00
162,617.50
0.00
160,646.50
INTEREST CITY ADVANCE
1,053,580.00
486,524.00
0.00
567,056.00
INTEREST - ERAF UMOD LOAN
0.00
0.00
0.00
0.00
PASS THROUGH PAYMENTS
10,605,577.00
0.00
0.00
10,605,577.00
TRANSFERS OUT
994,948.00
254,904.01
0.00
740,043.99
TOTAL DEBT SERVICE
13,251,382.00
1,002,070.51
0.00
12,249,311.4
CAPITAL IMPROVEMENT FUND:
PERSONNEL
2,900.00
1,355.44
0.00
1,544.56
SERVICES
117,820.00
19,372.43
0.00
98,447.57
ADVERTISING -ECONOMIC DEV
250.00
0.00
0.00
250.00
ECONOMIC DEVELOPMENT ACTIVITY
40,000.00
3,500.00
0.00
36,500.00
REIMBURSEMENT TO GEN FUND
41,443.00
13,815.00
0.00
27,628.00
TRANSFERS OUT
1,634.00
91.48
0.00
1,542.52
TOTAL CAPITAL IMPROVEMENT
204, 7.00
38,134.35
0.00
165,912.65
11
.01
COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE: Approval of La Quinta Redevelopment
Agency Financial Reports in Accordance with Section
33080 of the Health and Safety Code
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve the La Quinta Redevelopment Agency Financial Reports in accordance with
Section 33080 of the Health and Safety Code.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Section 33080 requires certain reports to be prepared and submitted to the governing
body by December 31" of each year, which are as follows:
Audited Financial Report — Previously submitted
Redevelopment Agency State Controller's Report (Attachment 1)
Statement of Indebtedness (Attachment 2)
Housing and Community Development Report (Attachment 3)
12
FINDINGS AND ALTERNATIVES:
The alternatives available to the Redevelopment Agency include:
1. Approve the La Quinta Redevelopment Agency Financial Reports in Accordance
with Section 33080 of the Health and Safety Code; or
2. Do not approve the La Quinta Redevelopment Agency Financial Reports in
Accordance with Section 33080 of the Health and Safety Code; or
3. Provide staff with alternative direction.
Respectfully submitted,
Y7Jo-h�n�K Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Redevelopment Agency State Controller's Report
2. Statement of Indebtedness
3. Housing and Community Development Report
13
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Footnotes to Reconciliation Statement
Name of Agency La Quints Redevelopment Agency
Name of Project Area La Quints Redevelopment Agency -Project No. 2
Tax Year. Fiscal Year Be¢innine July 1. 2004 Reconciliation Dates: From July 1. 2003 To June 30.
2004
Low & Moderate Housing Set Aside Increases:
S 1.148
Adjustment of Forecast remaining to 2038-39
1,148
tounty of Riverside Pass Through Decreases:
S (47.4051
Adjustment of Forecast remaining to 2038-39
(47,405)
Desert Sands Unified School Increases:
S 231
Adjustment of Forecast remaining to 2038-39
231
Coachella Valley Water District Decreases:
S (2,5431
Adjustment of Forecast remaining to 2038-39
(2,543)
County Superintendent of Schools Increases:
S 534
Adjustment of Forecast remaining to 2039-39
534
Desert Community College District Increases:
S 171
Adjustment of Forecast remaining to 2038-39
171
Coachella Valley,PWJ & Rec Decreases:
S (305,667)
Adjustment of Forecast remaining to 2039-39
(305,667)
Coach. Valley Mosquito Abatement Decreases:
S (6741
Adjustment of Forecast remaining to 2039-39
(674)
OvedwadlAdministration Increases:
S 382,934
2003-04 Budget Estimate
382,934
County Administrative Fee (SB 25771 Increases:
S 7.873
Adjustment of Forecast remaining to 2038-39
7,873
City of La Ouinta Advance Increases:
S 8,815,602
Adjustment of Forecast
9,815,602
Page 1 of I
C� J
48'
CALCULATION OF AVAILABLE REVENUES
AGENCY NAME LA OUINTA REDEVELOPMENT AGENCY
TAX YEAR Fiscal Year Beginning July 1, 2004
RECONCILIATION DATES: JULY 1, 2003 TO JUNE 30, 2004
1. Beginning Balance, Available Revenues
$5,380,038
(Per 2003-04 Statement of Indebtedness)
2. Tax Increment Received — Gross:
$14,356,327
All Tax Increment Revenues, to include any Tax Increment passed
through to other local taxing agencies.
3. All other Available Revenues Received
$47,700
(See Instructions)
4. Revenues from any other source, included in Column E of the
Reconciliation Statement, but not included in (1-3) above
$0
5. Sum of Lines 1 through 4
$19,784,065.
6. Total amounts paid against indebtedness in previous year. (D + E on
Reconciliation Statement)
$14,585,959
7. Available Revenues, End of Year (5 - 6)
$5,198,106
FORWARD THIS AMOUNT TO STATEMENT OF
INDEBTEDNESS, COVER PAGE, LINE 4
NOTES
Tax Increment Revenues:
The only amount(s) to be excluded as Tax Increment Revenues are any amounts passed through to other
local taxing agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set -aside in
the Low and Moderate. Income Housing Fund will be washed in the above calculation, and therefor omitted
from Available Revenues at year end.
Item 4. above:
This represents any payments from any source other than Tax increment OR available revenues. For
instance, an agency funds a project with a bond issue. The previous SOI included a Disposition Development
Agreement (DDA) which was fully satisfied' with these bond proceeds. The DDA would be shown on the
Reconciliation Statement as fully repaid under the "other" column (Col E), but with funds that were neither Tax
Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on
line 4 above in order to accurately determine ending "Available Revenues."
Rev. 9/24/2004
tt
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6857
Footnotes to Reconciliation Statement
Name of Agency La Quint& Redevelopment Agency
Name of Project Area La Quiata Redevelopment Agency Project No.1
Tax Year: Fiscal Year Beginning July 1 2004
Reconciliation Dates: From July.1 2003 To June 30 2004
Low & Moderate Housing Set Aside
Increases:
$ 23,222,660
Adjustment of Forecast Remaining to 2032-33
23,222,660
County of Riverside Pass Through
Increases:
$ 37,430,319
Adjustment of Forecast Remaining to 2032-33
37,430,319
Desert Sands Unified School District
Increases:
S 5,790,311
Forecast Remaining to 2032-33
5,790,311
Desert Community College District
Increases:
S 1,582,407
Forecast Remaining to 2032-33
1,582,407
Coachella Valley Mow. Abat. District
Increases:
$ 595,680
Adjustment of Forecast Remaining to 2032-33
595,680
Coachella Valley Water District
Increases:
S 1,404,178
Adjustment of Forecast Remaining to 2032-33
1,404,178
Rent Reimbursement
Decreases:
(325)
Adjustment of Forecast
(325)
Overhead/Administration
Decreases:
$ 2,194,197
Adjustment of Forecast
2,194,197
�l
58
Pagel of 3
�...
Footnotes to Reconciliation Statement
Name of Agency La Quint& Redevelopment Agency
Name of Project Area La Quinta Redevelopment Agency Project No.1
Tax Year: Fiscal Year Beginning July 1 2004 Reconciliation Dates: From Julv 1 2003 To June 30 2004
City of La Quinta Loan
Increases:
S
8,876,912
Adjustment of Forecast/Added Principal
8,876,912
County. Superintendent of Schools
Increases:
$
458,817
Adjustment of Forecast
458,817
Cemetery District
Increases:
S
37,772
Adjustment of Forecast
37,772
Recreation & Park District
Increases:
S
232,185
Adjustment of Forecast
232,18-5
Resource Conservation District
Increases:
S
4,444
Adjustment of Forecast
4,444
County Administration Fee (SB 2557)
Increases:
S
1,354,076
Adjustment of Forecast
1,354,076
Economic Development Activities
Increases:
S
142,000
2003-04 Budget Estimate
142,000
Capital Improvement Program
Decreases:
S (1,823,613)
Adjustment of Forecast
(1,823,613)
nn
59
Footnotes to Reconciliation Statement
Name of Agency . La Quinta Redevelopment Agency
Name of Project Area La Quinta Redevelopment Agency Project No.1
Tax Year: Fiscal Year BeQinnin¢ July 1. 2004 Reconciliation Dates: From July 1. 2003 To June 30, 2004
,.�—...,.. City Loan - Museum..Site-, .--.—.-.-- Increases:._._80+,394,.�.�.�..
Adjustment of Forecast 1,600,129
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r..
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Me
CALCULATION OF AVAILABLE REVENUES
AGENCY NAME LA OUINTA REDEVELOPMENT AGENCY
PROJECT AREA LA OUINTA REDEVELOPMENT AGENCY PROJECT N,O_I
TAX YEAR Fiscal Year Beginning July 1, 2004
RECONCILIATION DATES: JULY 1, 2003 TO JUNE 3012 004
1. Beginning Balance, Available Revenues
(Per 2003-04 Statement. of Indebtedness)
2. Tax Increment Received — Gross:
All Tax Increment Revenues, to include any Tax Increment passed
through to other local taxing agencies.
3. All other Available Revenues Received
(See Instructions)
4. Revenues from any other source, included in Column E of the
Reconciliation Statement, but not included in (1-3) above
5. Sum of Lines 1 through 4
$10,410,407
$28,918,484
$48,900
$0
$39,377,791
6. Total amounts paid against indebtedness in previous year. (D + E on
Reconciliation Statement) $21,526,728
7. Available Revenues, End of Year (5 - 6) $17,851,063
FORWARD THIS AMOUNT TO STATEMENT OF
INDEBTEDNESS, COVER PAGE, LINE 4
NOTES
Tax Increment Revenues:
The only amount(s) to be excluded as Tax Increment Revenues are any amounts passed through to other
local taxing agencies pursuant to Health and Safety Code Section 33676. Tax Increment Revenue set -aside in
the Low and Moderate Income Housing Fund will be washed in the above calculation, and therefor omitted
from Available Revenues at year end. .
Item 4. above:
This represents any payments from any source other than Tax increment OR available revenues. For
instance, an agency funds a project with a bond issue. The previous SOI included a Disposition Development
Agreement (DDA) which was fully satisfied with these bond proceeds. The DDA would be shown on the
Reconciliation Statement as fully repaid under the "other" column (Col E), but with funds that were neither Tax
Increment, nor "Available Revenues" as defined. The amounts used to satisfy this DDA would be included on
line 4 above in order to accurately determine ending "Available Revenues."
Rev. 9/24/2004
61
ATTACHMENT 3
SCHEDULE HCD-E
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION
BASED ON SPECIFIED HOUSING ACTIVITY DURING TIE REPORTING YEAR
Agency: La Quinta Redevelopment Agency
Name of Project or Area (if applicable, list "Outside" or "Summary": Project Area No. 1
Complete this form to report activity separately by project or area or to summarize activity for the year.
Report all new construction and/or substantial rehabilitation units from Forms D2 through D7 that were:
(a) developed by the agency and/or (b) developed only in a project area by a nonagency person or entity.
PART I [H&SC Section 33413(b)(1)]
AGENCY DEVELOPED UNITS DURING THE REPORTING YEAR
BOTH INSIDE AND OUTSIDE OF A PROJECT AREA
1.
New Units Developed by the Agencv
p
2.
Substantially Rehabilitated Units Developed by the Agency
0
3.
Subtotal - Baseline of Agency Developed Units (add lines 1 & 2)
Q
4.
Subtotal of Increased Inclusionary Obligation (Line 3 x 30%) (see Notes 1 and 2 below)
O
5.
Verb Inclusionary Obligation Increase Units (Line 4 x 50%)
O
PART II [H&SC Section 33413(b)(2)]
NONAGENCY DEVELOPED UNITS DURING THE REPORTING YEAR
ONLY INSIDE A PROJECT AREA
6.
New Units Developed by Any NonagMcy Person or Entity
21
7.
Substantially Rehabilitated Units Developed by Any Nonagency Person or Entity
0
8.
Subtotal - Baseline of Nonagency Developed Units (add lines 6 & 7)
21
9.
Subtotal of Increased Inclusionary Obligation (Line 8 x 15%) (see Notes 1 and 2 below)
3
10.
Verv-Low Inclusionary Obligation Increase (Line 9 x 40%)
1
PART III REPORTING YEAR TOTALS
11.
Total Increase in Inclusionary Obligation (add lines 4 and 9)
3
12.
Very -Low Inclusionary Obligation Increase (add lines 5 and 10) (Line 12 is a subset of Line
11
1
NOTES:
1. Section 33413(b)(1), (2), and (4) require agencies to ensure that applicable percentages (30% or 15%) o
all (market -rate and affordable) "new and substantially rehabilitated dwelling units" are made available
at affordable housing cost within 10-year planning periods. Market -rate units: units not assisted with
low -mod funds and jurisdiction does not control affordability restrictions. Affordable units: units
generally restricted for the longest feasible time beyond the redevelopment plan's land use controls and
jurisdiction controls affordability restrictions. Agency developed units: market -rate units can not exceed
70 percent and affordable units must be at least 30 percent; however, all units assisted with low -mod
funds must be affordable. Nonagency developed (project area) units: market -rate units can not exceed
85 percent and affordable units must be at least 15 percent
2. Production requirements may be met on a project -by -project basis or in aggregate within, each 10 year
planning period. The percentage of affordable units relative to total units required within each 10 year
planning period may be calculated as follows:
AFFORDABLE units = Market -rate x (.30 or .15) TOTAL units = Market -rate or Affordable
(. 70 or .85) (. 70 or .85) (.30 or .1 S)
California Redevelopment Agencies - Fiscal Year 2003-2004HCD-E
Sch E-1(9n104) 62
SCHEDULE HCD-D7
HOUSING UNITS PROVIDED (NO AGENCY ASSISTANCE)
(units not claimed on Schedule D-2,3,4,5,6)
Agency:
Redevelopment Project Area Name, or "Outside":
Housing Project Name:
NOTE: On this form, only report UNITS NOT REPORTED on HCD D2 through HCD D6 for project/program units that
have not received anv agency assistance. Agency assistance includes either financial assistance (LMIHF or other agency
funds) or nonfinancial assistance (design, planning, etc.) provided by agency staff. In some cases, of the total units reported
on HCD D1, a portion of units in the same projectprogram may be agency assisted (reported on HCD D2 through HCD D6)
whereas other units may be unassisted by the agency (reported on HCD D7).
The intent of this form is to: (1) reconcile any difference between total project/program units reported on HCD DI compared
to the sum of all the project's/program's units reported on HCD D2 through HCD D6, and (2) account for other (nonassisted)
housing units provided inside a project area that increases the agency's inclusionary obligation. Reportiar nonagency
assisted proiects outside a nroiect area is optional, if units do not make-up any hart of total units reported on HCD D1.
HCD D7ReportineExamples
Example I (reporting partial units): A new 100 unit project was built (reported on HCD DI, Inside or Outside a project area).
Fifty (50) units received agency assistance [30 affordable LMIHF units (reported on either HCD D2, D3, D4, or D5) and 20
above moderate units were funded with other agency funds (reported on HCD D6)J The remaining SO (p ' rivate ly financed
and developed market -rate units) must be reported on HCD D7 to make up the difference between 100 reported on DI and 50
reported on MD).
Example 2 (reporting all units): Inside a project area a condemned, historic property was substantially rehabilitated (multi-
familv or sinolefamily), funded by tax credits and other private financing without any agency assistance.
Check whether Inside or Outside Project Area in completing applicable information below:
❑ Inside Project Area
Enter the number for each applicable activity:
New Construction Units:
Substantial Rehabilitation Units:
Total Units:
❑ Outside Project Area
Enter the number for each applicable activity:
New Construction Units:
Substantial Rehabilitation Units.
Total Units:
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
❑ Replacement Housing Units lnclusionary Units: Other Housing Units Provided:
(Sch HCD-D2) ❑ Inside Project Area (Sch HCD-133) El With LMIHF (Sch HCD-135)
❑ Outside Project Area (Sch HCD-D4) ❑ Without LMIHF (Sch HCD-D6)
74
camomia Redevelopment Agencies - Fiscal Year 2003-2004
HCD-D7 63
Sch D7 (7/l/04)
HCD REPORT OF REDEVELOPMENT AGENCY HOUSING ACTIVITY FOR
FY ENDING: 6 / 30 / 04
Agency Name and Address:
La Quinta Redevelopment Agency
78495 Calle Tampico
La Quinta, CA 92253
County of Jurisdiction:
Riverside
Health & Safety Code Section 33080.1 requires agencies to annually report on their Low & Moderate Income Housing Fund and how
activities for the Department of Housing and Community Development (HCD) to annually report on agencies' activities in accordance with
Section 33080.6. Section 33080.3 specifies agencies must send this form HCD Schedules, and an Audit report to the State Controller
Please answer each question below. Your answers determine which HCD SCHEDULES must be completed in order for the agency to
fulfill the statutory requirement to report LM HF housing activity and fund balances for the reporting period.
1. Check one of the items below to identify the Agency's status at the end of the reporting period:
❑ New (Agency formation occurred during reporting year. No financial transactions were completed).
® Active (Financial and/or housing transactions occurred during the reporting year)
❑ Inactive (No financial and/or housing transactions occurred during the reporting year). ONLY COMPLETE ITEM 7
❑ Dismantled (Agency adopted an ordinance to dissolve itself). ONLY COMPLETE ITEM 7
2. How many adopted project areas did the agency have during the reporting period?
How many project areas were during the reporting period?
If the agency has one or more adopted project areas, complete SCHEDULE HCD-A for each projed area.
If the agency has no adopted project areas, DO NOT complete SCHEDULE HCD-A.
3. Within an area outside of any adopted redevelopment, project area(s): (a) did the agency destroy or remove any dwelling units
or displace any households over the reporting period, (b) does the agency intend to displace any households over the next reporting
period, (c) did the agency permit the sale of any owner -occupied unit prior to the expiration of land use controls over the reporting
period, and/or (d) did the agency execute a contract or agreement for the construction of any affordable units over the next two years?
❑ Yes (any question). Complete SCHEDULE HCD-B.
® No (all questions). DO NOT complete SCHEDULE HCD-B.
4. Did the agency have any funds in the Low & Moderate Income Housing Fund during the reporting period?
® Yes. Complete SCHEDULE HCD-C.
❑ No. DO NOT complete SCHEDULE HCD-C.
5. During the reporting period, were housing units completed within a project area and/or assisted by the agency outside a project area?
® Yes. Complete all applicable HCD SCHEDULES D 1-D7 for each housing project completed and HCD SCHEDULE E.
❑ No. DO NOT complete HCD SCHEDULES DI-D7 or HCD SCHEDULE E.
6. Indicate whether HCD financial and housing activity information has been reported using method A and/or B checked below:
® A. Forms. All required HCD SCHEDULES A. B, C. D1-D7, and E are attached.
❑ B. On-line (http://"www.hcd.ca.govlydal) "Lock Report" date: . HCD SCHEDULES not required.
(lock date is shown under "Admin "Area and "Report Change History')
7. To the best of my knowledge: (a) the
December 14, 2004
Date
above and W agency information reported are correct.
of Authorized Agency Representative
Title
(760) 777 7150
Telephone Number
IF NOT REQUIRED TO REPORT, SUBMIT ONLY THIS PAGF.
IF REQUIRED TO REPORT. SUBMIT THIS PAGE AND:
APPLICABLE HCD FORMS (SCHEDULES A E) and/or PROOF OF ELECTRONIC REPORTING
SUBMIT THIS AND ALL OTHER FORMS WITHA COPY OF THE AUDIT REPORT TO THE STATE CONTROLLER:
Division of Accounting and Reporting
Local Government Reporting Section
3301 C Street Suite 500— Sacramento, CA 95816 ! 5
Redevelopment Agency Annual Report - Fiscal Year 2003-2004 HCD-Cover
Cover (7/1//04) 1 64
SCHEDULE HCD-A
Inside Project Area Activity
for Fiscal Year that Ended 6 / 30 / 04
Agency Name: La Quinta Redevelopment Agency Project Area Name: Project Area No. 1
Preparer's Name, Title: Michael Benjamin, Analyst Preparer's E-Mail Address: pkim, min @webrsg.com
Preparer's Telephone No: (714) 5414585 Preparer's Facsimile No: 714 541-1175
GENERAL INFORMATION
1. Project Area Information
a. 1. Year 1' plan for project area was adopted: _1983
2. Year that plan was last amended (if applicable): 1995
3. Was plan amended after 2001 to extend time limits per Senate Bill 211(Chapter 741, Statutes of 2001)? Yes_ No X
4. Current expiration of plan: 11 / 29 / 2023
mo day yr
b. If project area name has changed, give previous name(s) or number:
c. Year(s) of any mergers of the project area: , 11,
Identify former project areas that merged:
d. Year(s) project area plan was amended involving real property that either:
(1) Added property to plan: ,
(2) Removed property from plan: ,
2. Affordable Housing Replacement and/or Inclusionary'or Production Requirements (Section 33413).
Pre-1976 project areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement
requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section
33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date
of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution.
Date:
mo day yr
Resolution Scope (applicable Section 33413 requirements):
Post-1975 project areas and geographic areas added by amendment after 1975 to pre-1976 project areas: Both replacement and
inclusionary or production requirements of Section 33413 apply.
NOTE:
Amounts to report on HCD-A lines 3a(1), 3b-3f, and 31. can be taken from what is reported to the State Controller's
Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial
Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other
Sources as discussed below:
Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A,
lines 3a-j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund
for the deposit of the required set -aside percentagetamount by reporting gross tax increment on HCD-A,
Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do
not report "net" funds transferred from the Debt Service Fund on HCD-A. Line 303) when reporting debt
service expenditures on HCD-C. Line 4c.
Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for
those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line
A Housing fund receipts for the repayment of loan principal should be included on HCD-A Line 3h.
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch A (7/l/04)
t
HCD-A
65
Agency Name: _La Quints Redevelopment Agency Project Area Name: Project Area No. 1
Project Area Housing Fund Revenues and Other Sources
3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting
year: Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other
Revenue" on Line 3j. (of this Schedule A), if this project area is named as beneficiary in the authorizing resolution. Any
other revenue sources not reported on lines 3a.-3i., should also be reported on Line 3j.
Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions
for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment
and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set -aside before any
exemption and/or deferral (if amount set -aside is less than required minimum (to), explain the difference). If any amount of
Tax Increment was exempted or deferred, in addition to completing lines 3a(4 and/or 3a(5), complete Line 4 and/or Line 5.
To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts
exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)].
a. Tax Increment:
(1) 100% of Gross Allocation: $ 29,958,693
(2) Calculate only 1 set -aside amount: either A or Q below:
(A) 20% required by 33334.2 (Line 3a(1) x 201/o): $ _5.991.739
(B) 30% required by 33333.10(g) (Line 3a(1) x 30%): $
(Senate Bill 211, Chapter 741, Statutes of 2001)
(3) Amount of set -aside (Line 3a(2)) allocated to Housing Fund $ 5,991,739
* If, pursuant to Section 33334.3(i), less than the minimum. % of Gross Tax
Increment (see 3a(2) above) is being allocated from this project area, identify
the project area(s) contributing the difference. Explain any other reason(s):
(4) Amount Exempted [Health & Safety Code Section 33334.2]
(if there is an amount exempted, also complete question #4, next page): ($ )
(5) Amount Deferred [Health & Safety Code Section 33334.6]
(if there is an amount deferred, also complete question #5, next page): ($ )
(6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]: $ 5,991,739
b.
Interest Income:
$
1.854
c.
Rental/lease Income (combine amounts separately reported to the SCO):
$
367,598
d.
Sale of Real Estate:
$
e.
Grants (combine amounts separately reported to the SCO):
$
f.
Bond Administrative Fees:
$
g.
Deferral Repayments (also complete Line 5c(2) on the next page):
$
h.
Loan Repayments:
$
i.
Debt Proceeds:
$
44.215.491
j.
Other Revenue(s) [Explain and identify amount(s)]:
Developer Fees $ 20,275
2 Trust Deed repayment & Home Sale Proceeds $ 524,200
Reimbursements and repayments $ 332,274
$
876,749
k.
Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.):
$
51,453,431
California Redevelopment Agencies — Fiscal Year 2003-2004
HCD-A 1 {
Sch A (7/l/04)
i
Agency Name: La Quanta Redevelopment Agency Project Area Name: Project Area No. 1�
Exemption(s)
4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information:
Check only one of the Health and Safety Code Sections below providing a basis for the exemption:
❑ Section 33334.2(a)(1): No need in community to increase/improve supply of lower or moderate income housing.
❑ Section 33334.2(a)(2): Less than the minimum set -aside % (20% or 30%) is sufficient to meet the need.
❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set -aside % (20% or 30%)
and has specific contractual obligations incurred before May 1,1991 requiring continued use of this fimding.
Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30,1993 but
contracts entered into prior to May 1,1991 may not be subject to the exemption sunset.
❑ Other: Specify code section and reason(s):
b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify:
Date that initial (1!) finding was adopted: / / Resolution # Date sent to HCD:
mo day yr mo day yr
Adoption date of reuorting_vear finding: / / Resolution # Date sent to HCD:
mo day yr mo day yr
Deferral(s)
5. a. Specify the authority for deferring any set -aside on Line 3a(5). Check only one Health and Safety Code Section boxes:
❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD
before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those
incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations.
Note: The deferral previously authorized by Section 33334.6(e) expired. It was only
allowable in each fiscal year prior to duly 1,1996 with certain restrictions.
❑ Other: Specify code Section and reason:
b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify:
Date that initial (1 cling was adopted: / / Resolution # Date sent to HCD:
mo day yr mo day yr
Adoption date of reportingyear finding: Resolution # Date sent to HCD:
mo day yr mo day yr
c. A deferred set -aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s)
of set -aside deferred over the reporting year and cumulatively as of the end of the reporting year:
Amount of Prior
Cumulative Amount
Amount Deferred Deferrals Repaid
Deferred (Net of Any
Fiscal Year
This Reporting FY During,_Reporting FY
Amount(s) Repaid)
(1) Last Reporting FY
$
$
(2) This Reporting FY
$ $
I * The cumulative amount of deferred set -aside should also be shown on HCD-C, Line 8a.
If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCD-A and
HCD-C), indicate the amount of difference and the reason:
Difference: $
Reason(s):
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch A (7/1/04)
HCD-A `
67
Agency Name: La Ouinta Redevelopment &eency
Project Area Name: Project Area No. 1
Deferral(s) (continued)
5.
d. Section 33334.6(g) requires any agency which defers set -asides to adopt a plan to eliminate the deficit in subsequent years.
If this agency has deferred set -asides, has it adopted such a plan? Yes ❑ No ❑
If yes, by what date is the deficit to be eliminated?
mo day yr
If yes, when was the original plan. adopted for the claimed deferral? / /
mo day yr
Identify Resolution # Date Resolution sent to HCD
mo day yr
When was the last amended plan adopted for the claimed deferral? / /
mo day yr
Identify Resolution # Date Resolution sent to HCD
mo day yr
Actual Project Area Households Displaced and Units and Bedrooms Lost Over Reporting Year:
6. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(axl) and (ax3), report by income category the number of
. elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over
the reporting year, (refer to Section 33413 for unit and bedroom replacement requirements).
f4urnoer of nousenowsiumuvrsearooms
Project Activity
VL L M AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced -Total
Units Lost (Removed or Destroyed) and Required to be Replaced
Bedrooms Lost (Removed or Destroyed) and Required to be Replaced
Above Moderate Units Lost That Agency is Not Required to Replace
Above Moderate Bedrooms Lost That Agency is Not Required to Replace
b. Other Activity. Pursuant to Sections 33080.4(axl) and (ax3) based on activities other than the destruction or removal of
dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households
permanently displaced over the reporting_ year:
Numher of Hnncehnlds
Other Activity
VL
L
M
AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
c. As required in Section 33413.5, identify, over the reporting year, each replacement housing plan required to be adopted
before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households
reported on lines 6a. and 6b.
Date / / Name of Agency Custodian
mo day yr
Date / / Name of Agency Custodian
mo day yr
Please attach a separate sheet of paper listing any additional housing plans adopted.
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-A �i ll
Sch A (7/l/04)
68
Agency Name: La Quinta Redevelopment Agency Project Area Name: _Project Area No. 1
Estimated Project Area Households to be Permanently Disalaced Over Current Fiscal Year:
7. a. As required in Section 33080.4(ax2) for a redevelopment project of the agency, estimate. over the current fiscal year, the
number of elderly and nonelderly households, by income category, expected to be permanently displaced (Note: actual
displacements will be reported for the next reporting year on Line 6).
N»mhar of AnncPhnldc
Project Activity
VL
L
M
AM
Total
Households Permanently Displaced - Eldedy
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
b. As required in Section 33413.5, for the current fiscal yearidentify each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households reported in 7a.
Date / / Name of Agency Custodian
mo day yr
Date
Name of Agency Custodian
tno day yr
Please attach a separate sheet of paper listing any additional housing plans adopted.
Units Deyeloaed Inside the Project Area to Fulfill Requirements of Other Project Area(s)
8. Pursuant to Section 33413(b)(2)(A)(v), agencies may choose one or more project areas to fulfill another project area's requirement to
construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on
substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or
economic segregation.
Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to
construct new or substantially rehabilitate dwelling units?
® No.
❑ Yes. Date initial finding was adopted? / / Resolution # Date sent to HCD:
mo day yr mo day yr
Number1 IPA_ 1,
Name of Other ®■
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-A So
Sch A (7/l/04) 69
Agency Name: La Quints Redevelopment Agency _ Project Area Name: Project Area No. 1
Sales of Owner-Occuvied Units Inside the Project Area Prior to the Expiration of Land Use Controls
9. Section 33413(cx2XA) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program,
agencies may permit the sale of owner -occupied units prior to the expiration of the period of the land use controls established by the
agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the
date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold.
a. Sales.
®No
❑Yes
b.
Did the agency permit the sale of any owner -occupied units during the reporting year?
Total Proceeds From Sales Over Reporting Year
Number of Units
SALES
VL
L
M
Total
Units Sold Over Reporting Year
Equal Units.
®No
❑Yes
Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years?
E— Total LMIHF Spent On Equal Units Over
Reporting Year
Number of Units
SALES
VL
L
M
Total
Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr
Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago
Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago
Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago
Affordable Units to be Constructed Inside the Project Area Within Two Years
10. Pursuant to Section 33080.4(ax10), report the number of very low, low, and moderate income units to be financed by any federal,
state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract
executed over the reporting year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated
completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on
HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the
reporting year's agreement or contract date.
DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds.
Col A
Col B
Col C
Col D
Col E
Name of
Agreement
Estimated
Sch C Amount
Sch C Amount
Project and/or
Execution
Completion Date
Encumbered
Designated
Contractor
Date
Win 2 yrs of Col B
Line 6a
Line 7a
VL
L
M
Total
S
S
s
s
s
a
Please attach a separate sheet of paper to list additional information.
California Redevelopment Agencies - Fiscal Year 2003-2004 HCD-AA
Sch A (7/1/04) - `J
70
SCHEDULE HCD-A
Inside Project Area Activity
for Fiscal Year that Ended 6 / 30 / 04
Agency Name: La Oumta Redevelopment Agency Project Area Name: Project Area No. 2
Preparefs Name, Title: Michael Beniamin, Analyst Preparefs E-Mail Address: mbenjammLgwebrsg com
Preparer's Telephone No: 714 541-4585 Preparer's Facsimile No: 714 541-1175
GENERAL INFORMATION
1. Project Area Information
a. 1. Year 1' plan for project area was adopted: 1989
2. Year that plan was last amended (if applicable): _2003
3. Was plan amended after 2001 to extend time limits per Senate Bill 211(Chapter 741, Statutes of 2001)? Yes_ No X
4. .Current expiration of plan: 5 / 16 / 2029
mo day yr
b. If project area name has changed, give previous name(s) or number:
c. Year(s) of any mergers of the project area: , , ,
Identify former project areas that merged:
d. Year(s) project area plan was amended involving real property that either:
(1) Added property to plan: ,
(2) Removed property from plan: ,
2. Affordable Housing Replacement and/or Inclusionary or Production Requirements (Section 33413).
Pre-1976 project areas not subsequently amended after 1975: Pursuant to Section 33413(d), only Section 33413(a) replacement
requirements apply to dwelling units destroyed or removed after 1995. The Agency can choose to apply all or part of Section
33413 to a project area plan adopted before 1976. If the agency has elected to apply all or part of Section 33413, provide the date
of the resolution and the applicable Section 33413 requirements addressed in the scope of the resolution.
Date:
mo day yr
Resolution Scope (applicable Section 33413 requirements):
Post-1975 project areas and geog,LaL1nc areas added by amendment after 1975 to pre-1976 txroiect areas: Both replacement and
inclusionary or production requirements of Section 33413 apply.
NOTE:
Amounts to report on HCD-A lines 3a(1), 3b-3f, and 31. can be taken from what is reported to the State Controller's
Office (SCO) on the Statement of Income and Expenditures as part of the Redevelopment Agency's Financial
Transactions Report, except for the reclassifying of Transfers -In from Internal Funds and the reporting of Other
Sources as discussed below:
Transfers -In from other internal funds: Report the amount of transferred funds on applicable HCD-A,
lines 3a j. For example, report the amount transferred from the Debt Service Fund to the Housing Fund
for the deposit of the required set -aside percentagetamount by reporting gross tax increment on HCD-A,
Line 3a(1) and report the Housing Fund's share of expenditures for debt service on HCD-C, Line 4c. Do
not report "net" funds transferred from the Debt Service Fund on HCD-A. Line 3031 when reporting debt
service expenditures on HCD-C. Line 4c.
Other Sources: Non-GAAP (Generally Acceptable Accounting Principles) revenues such as from land sales for
those agencies using the Land Held for Resale method to record land sales should be reported on HCD-A Line
A Housing fund receipts for the repayment of loan principal should be included on HCD-A Line A
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch A (7/1/04)
HCD-A
71
Agency Name: pinta Redevelopment Agency Project Area Name: Project Area No. 2
Project Area Housing Fund Revenues and Other Sources
3. Report all revenues and other sources of funds from this project area which accrued to the Housing Fund over the reporting
year. Any income related to agency -assisted housing located outside the project area(s) should be reported as "Other
Revenue" on Line 3j. (of this Schedule A), if this project.area is named as beneficiary in the authorizing resolution. Any
other revenue sources not reported on lines 3a.-3i., should also be reported on Line 3j.
Enter on Line 3a(1) the full 100% of gross Tax Increment allocated prior to applicable pass through of funds and deductions
for fees (refer to Sections 33401, 33446, & 33676). Compute the required minimum percentage (%) of gross Tax Increment
and enter the amount on Line 3a(2)(A) or 3a(2)(B). Next, report the amount of Tax Increment set -aside before any
exemption and/or deferral (if amount set -aside is less than required minimum (%), explain the difference). If any amount of
Tax Increment was exempted or deferred, in addition to completing lines 3a(4) and/or 3a(5), complete Line 4 and/or Line 5.
To determine the amount of Tax Increment deposited to the Housing Fund [Line 3a(6)], subtract allowable amounts
exempted [Line 3a(4)] or deferred [Line 3a(5)] from the actual amount allocated to the Housing Fund [Line 3a(3)].
a. Tax Increment:
(1) 100% of Gross Allocation: $ �15,158,339
(2) Calculate only 1 set -aside amount: either A or below:
(A) 20% required by 33334.2 (Line 3a(1) x 20%): $ 3,031,668
(B) 30% required by 33333.10(g) (Line 3a(1) x 30%): $
(Senate Bill 211, Chapter 741, Statutes of 2001)
(3) Amount of set -aside (Line 3a(2)) allocated to Housing Fund $ 3,031,668
* If, pursuant to Section 33334.3(i), less than the nrinimaun % of Gross Tax
Increment (see 3a(2) above) is being allocated from this project area, identify
the project area(s) contributing the difference. Explain any other reason(s):
(4) Amount Exempted [Health & Safety Code Section 33334.2]
(if there is an amount exempted, also complete question #4, next page):
(5) Amount Deferred [Health & Safety Code Section 33334.6]
(if there is an amount deferred, also complete question #5, next page):
(6) Total deposit to the Housing Fund [result of Line 3a(3) through 3a(5)]:
b. Interest Income:
c. RentaULease Income (combine amounts separately reported to the SCO):
d. Sale of Real Estate:
e. Grants (combine amounts separately reported to the SCO):
f. Bond Administrative Fees:
g. Deferral Repayments (also complete Line 5c(2) on the next page):
h. Loan Repayments:
i. Debt Proceeds:
j. Other Revenue(s) [Explain and identify amount(s)]:
Developer Fees
Other Revenues
$ 622,305
$ 122,421
k. Total Project Area Receipts Deposited to Housing Fund (add lines 3a(6). through 3j.):
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch A (7/1/04)
$ 3.031.668
$ 110,431
$ 63,580
$ 22,107,745
$ 744,726
$ 26,058,150
HCD-A
'Srl� 72
Agency Name: La Ouinta Redevelopment Agency Project Area Name: Project Area No. 2
Exemption(s)
4. a. If an exemption was claimed on Page 2, Line 3a(4) to deposit less than the required amount, complete the following information:
Check only one of the Health and Safety Code Sections below providing a .basis for the exemption:
❑ Section 33334.2(axl): No need in community to increase/improve supply of lower or moderate income housing.
❑ Section 33334.2(ax2): Less than the minimum set -aside % (201/o or 30%) is sufficient to meet the need.
❑ Section 33334.2(a)(3): Community is making substantial effort equivalent in value to minimum set -aside % (20% or 30%)
and has specific contractual obligations incurred before May 1, 1991 requiring continued use of this funding.
Note: Pursuant to Section 33334.2(a)(3)(C), this exemption expired on June 30,1993 but
contracts entered into prior to May 191991 may not be subject to the exemption sunset.
❑ Other: Specify code section and reason(s):
b. For any exemption claimed on Page 2, Line 3a(4) and/or Line 4a above, identify:
Date that initial (1!) finding was adopted: / / Resolution # Date sent to HCD:
mo day yr mo day yr
Adoption date of reporting_year finding: / / Resolution # Date sent to HCD:
mo day yr mo day yr
Deferral s
5. a. Specify the authority for deferring any set -aside on Line 3a(5). Check only one Health and Safety Code Section boxes:
❑ Section 33334.6(d): Applicable to project areas approved before 1986 in which the required resolution was sent to HCD
before September 1986 regarding needing tax increment to meet existing obligations. Existing obligations can include those
incurred after 1985, if net proceeds were used to refinance pre-1986 listed obligations.
Note: The deferral previously authorized by Section 33334.6(e) expired. It was only
allowable in each fiscal year prior to July 1,1996 with certain restrictions.
❑ Other: Specify code Section and reason:
b. For any deferral claimed on Page 2, Line 3a(5) and/or Line 5a above, identify:
Date that initial (1.n finding was adopted: / / Resolution #
mo day yr
Adoption date of reportingL year finding: / / Resolution #
mo day yr
Date sent to HCD:
Date sent to HCD:
mo day yr
mo day yr
c. A deferred set -aside pursuant to Section 33334.6(d) constitutes indebtedness to the Housing Fund. Summarize the amount(s)
of set -aside deferred over the reporting year and cumulatively as of the end of the reporting year:
Fiscal Year
Amount of Prior
Amount Deferred Deferrals ReRaid
This Reporting FY During Reporting FY
Cumulative Amount
Deferred (Net of Any
Amount(s) Repaid)
(1) Last Reporting FY
$
$ $
(2) This Reporting FY
$
I * The cumulative amount of deferred set -aside should also be shown on HCD-C, Line 8a.
If the prior FY cumulative deferral shown above differs from what was reported on the last HCD report (HCn-A and
HCD-C), indicate the amount of difference and the reason:
Difference: $
Reason(s):
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-A 84
Sch A (7/l/04)
73
Agency Name: La Ouinta Redevelopment Agency
Project Area Name: _Project Area No. 2
Deferrals (continued)
5.
d. Section 33334.6(g) requires any agency which defers set -asides to adopt a plan to eliminate the deficit in subsequent years.
If this agency has deferred set -asides, has it adopted such a plan? Yes ❑ No ❑
If yes, by what date is the deficit to be eliminated?
mo day yr
If yes, when was the on ' plan adopted for the claimed deferral?
mo day yr
Identify Resolution # Date Resolution sent to HCD
mo day yr
When was the last amended plan adopted for the claimed deferral?
mo day yr
Identify Resolution # Date Resolution sent to HCD
mo day yr
Actual Project Area Households Displaced and Units and Bedrooms Lost Over Resorting Year:
6. a. Redevelopment Project Activity. Pursuant to Sections 33080.4(axl) and (a)(3), report by income category the number of
elderly and nonelderly households permanently displaced and the number of units and bedrooms removed or destroyed, over
the reporting
_year, (refer to Section 33413 for unit and bedroom replacement requirements).
Number of Households/Units/Bedroomc
Project Activity
VL L M AM Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced -Total
Units Lost (Removed or Destroyed) and Required to be Replaced
Bedrooms Lost (Removed or Destroyed) and Required to be Replaced
Above Moderate Units Lost That Agency is Not Required to Replace
Above Moderate Bedrooms Lost That Agency is Not Required to Replace
b. Other Activity. Pursuant to Sections 33080.4(a)(1) and (ax3) based on activities other than the destruction or removal of
dwelling units and bedrooms reported on Line 6a, report by income category the number of elderly and nonelderly households
permanently displaced over the reporting_veaz:
Number of Hmrsehnlds
Other Activity
VL
L
M
AM
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
c. As required in Section 33413.5, identify, over the reporting.year, each replacement housing plan required to be adopted
before the permanent displacement, destruction, and/or removal of dwelling units and bedrooms impacting the households
reported on lines 6a. and 6b.
Date / / Name of Agency Custodian
mo day yr
Date / / Name of Agency Custodian
mo day yr
Please attach a separate sheet of paper listing any additional housing plans adopted.
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-A
Sch A (7/l/04) '
74
Agency Name: La Ouinta Redevelopment Agency Project Area Name: Project Area No. 2
Estimated Project Area Households to be Permanently Displaced Over Current Fiscal Year:
7. a. As required in Section 33080.4(ax2) for a redevelopment project of the agency, estimate, over the current fiscal year, the
number of elderly and nonelderly households, by income category, expected to be permanently displaced. (Note: actual
displacements will be reported for the next reporting year on Line 6).
Numher of Hnucehnldc
Project Activity
VL
L
M
AAA
Total
Households Permanently Displaced - Elderly
Households Permanently Displaced - Non Elderly
Households Permanently Displaced - Total
b. As required in Section 33413.5, for the current fiscal year, identify each replacement housing plan required to be adopted before
the permanent displacement, destruction, and/or removal.of dwelling units and bedrooms impacting the households reported in 7a.
Date
mo day yr
Date /
mo day w
Please attach a separate sheet of paper listing any additional housing plans adopted.
Name of Agency Custodian
Name of Agency Custodian
Units Developed Inside the Project Area to Fulfill Requirements of Other Project Area(s)
8. Pursuant to Section 33413(b)(2XAxv), agencies may choose one or more project areas to fulfill another project area's requirement to
construct new or substantially rehabilitate dwelling units, provided the agency conducts a public hearing and finds, based on
substantial evidence, that the aggregation of dwelling units in one or more project areas will not cause or exacerbate racial, ethnic, or
economic segregation.
Were any dwelling units in this project area developed to partially or completely satisfy another project area's requirement to
construct new or substantially rehabilitate dwelling units?
® No.
❑ Yes. Date initial finding was adopted? / / Resolution # Date sent to HCD:
mo day yr mo day yr
Number of t
Name of Other Project Area(s)
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch A (7/1/04)
HCD-A
$s
75
Agency Name: La Ouinta Redevelopment A encv _ Project Area Name: Project Area No. 2
Sales of Owner-0ccuaied Units Inside the Proiect Area Prior to the Expiration of Land Use Controls
9. Section 33413(cx2XA) specifies that pursuant to an adopted program, which includes but is not limited to an equity sharing program,
agencies may permit the sale of owner -occupied units prior to the expiration of the period of the land use controls established by the
agency. Agencies must deposit sale proceeds into the Low and Moderate Income Housing Fund and within three (3) years from the
date the unit was sold, expend funds to make another unit equal in affordability, at the same income level, to the unit sold.
a. Sales.
®No
❑Yes
b.
Did the agency permit the sale of any owner -occupied units during the reporting year?
$
<-- Total Proceeds From Sales Over Reporting Year
Number of Units
SALES
VL
L
M
Total
Units Sold Over Reporting Year
Equal Units.
®No
❑Yes
Were reporting year funds spent to make units equal in affordability to units sold over the last three reporting years?
$
F— Total LMIHF Spent On Equal Units Over
Reporting Year
Number of Units
SALES
VL
L
M
Total
Units Made Equal This Reporting Yr to Units Sold Over This Reporting Yr
Units Made Equal This Reporting Yr to Units Sold One Reporting Yr Ago
Units Made Equal This Reporting Yr to Units Sold Two Reporting Yrs Ago
Units Made Equal This Reporting Yr to Units Sold Three Reporting Yrs Ago
Affordable Units to be Constructed Inside the Proiect Area Within Two Years
10. Pursuant to Section 33080.4(aX10), report the number of very low, low, and moderate income units to be financed by any federal,
state, local, or private source in order for construction to be completed within two years from the date of the agreement or contract
executed over the reporting
_year. Identify the project and/or contractor, date of the executed agreement or contract, and estimated
completion date. Specify the amount reported as an encumbrance on HCD-C, Line 6a. and/or any applicable amount designated on
HCD-C, Line 7a. such as for capital outlay or budgeted funds intended to be encumbered for project use within two years from the
reporting year's agreement or contract date.
DO NOT REPORT ANY UNITS ON THIS SCHEDULE A THAT ARE REPORTED ON OTHER HCD-As, B, OR Ds.
Col A
Col B
Col C
Col D
Col E
Name of
Agreement
Estimated
Sch C Amount
Sch C Amount
Project and/or
Execution
Completion Date
Encumbered
Designated
Contractor
Date
(wfin 2 yrs of Col B
Line 6a
Line 7a
VL
L
M
Total
48/Adams
Jan-2003
$
$
149
149
Centerpoint La Quinta
Dec-2003
$
$
40
40
Cameo Homes Apts
Mar-2003
$
$
75
75
Vista Dunes Mobile
Dec-2003
$
$
80
80
Home Park
Please attach a separate sheet of paper to list additional information.
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-A
Sch A (7/1/04) 76
SCHEDULE HCD-C
Agency -wide Activity
for Fiscal Year Ended 6 / 30 / 04
Agency Name: La Quetta Redevelopment Agency County: Riverside
Preparer's Name, Title: Michael Benjamin, Analyst Preparer's E-Mail Address: mbenjamin@mT rs .cg om
Preparer's Telephone No: 714 541-4585 Preparer's Facsimile No: 714 541-1175
Low & Moderate Income Housing Funds
Report on the "status and use of the agency's Low and Moderate Income Housing Fund" Most information reported here should
be based on information reported to the State Controller.
1. Beginning Balance (Use "Net Resources Available" from last fiscal year report to HCD)
a. If Berg Balance requires adiustment(sl, identify the reason and amount for each adjustment:
Use < $ > for negative amounts or amounts to be subtracted
Prior period adjustmnt to match berg balance from CAFR $-74,623
b. Total Adjustment(s) (indicate whether positive or <negative>)
c. Adjusted Beginning Balance [Beginning Balance plus + or minus <-> Total Adjustment(s)]
2. Project Area(s) Receipts and Housing Fund Revenues
a. All Project Areas. Total Deposits [Sum of amount(s) from Line 3k.,HCD-A(s)]
b. Other revenues not reported on Schedule HCD-A(s) [Identify source(s) and amount(s)]:
Proceeds from sale of capital assets
c. Total Housing Fund Revenues
3. Total Resources (Line lc. + Line 2a + Line 2c.)
NOTES:
$ 108,570
$�10,170,703
$ -74 623
$ 10,096,080
$�77,511,581
$ 87,716,231
Many amounts to report as Expenditures and Other Uses (beginning on the next page) should be taken from amounts reported
to the State Controller's Office (SCO). Review the SCO's Redevelopment Agencies Financial Transactions Report.
Housing Fund "transfers -out" to other internal Agency funds: Report the specific use of all transferred funds on applicable
lines 4a.-k of Schedule C. For example, transfers from the Housing Fund to the Debt Service Fund for the repayment of
principal and interest of debt proceeds deposited to the Housing Fund should be reported on the applicable item comprising
HCD-C Line 4c, providing tax increment (gross and deposit amounts) were reported on Sch-As. External transfers out of the
Agency should be reported on HCD-C Line 4j (e.g.: transfer of excess surplus to the County Housing Authority).
Other Uses: Nan GAAP Generally Accepted Accounting Principles) recording of expenditures such as land purchases for
agencies using the Land Held for Resale method to record land purchases should be reported on HCD-C Line 4a(1). Funds
spent resulting in loans to the Housing Fund should be included in HCD-C lines 4b., 4f., 4g., 4h., and 4i as appropriate.
The statutory cite pertaining to Community Redevelopment Law (CRL) is provided for preparers to review to determine
the appropriateness of Low and Moderate Income Housing Fund (LMIHF) expenditures and other uses. HCD does not
represent that line items identifying any expenditures and other uses are allowable CRL is accessible on the Internet
/webske: http://www.le ing_ fo.ca.gov/ (California Law)] beginning with Section 33000 of the Health and Safety Code.
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C 8 Q ,77
Sch C (7/1/04) %.7
Agency Name: La Quinta Redevelopment Agency
4. Expenditures,. Loans, and Other Uses
a. Acquisition of Property & Buildinm Sites f33334.2(e)(1)1 & Housing f33334.2(e)(6)1:
(1)
Land Purchases (Investment — Land Held for Resale) *
$
(2)
Housing Assets (Fixed Asset) *
$
(3)
Acquisition Expense
$
(4)
Operation of Acquired Property
$
(5)
Relocation Costs
$
(6)
Relocation Payments
$
(7)
Site Clearance Costs
$
(8)
Disposal Costs
$
(9)
Other [Explain and identify amount(s)]:
* Reported to SCO as part of Assets and Other Debts
(10)
Subtotal Property/Building Sites/Housing Acquisition (Sum of Lines 1— 9) $ 0
b. Subsidies from Low and Moderate Income Housing Fund
(1)
14 Time Homebuyer Down Payment Assistance
$
(2)
Rental Subsidies
$
(3)
Purchase of Affordability Covenants [33413(b)2(B)]
$
(4)
Other [Explain and identify amount(s)]:
(5)
Subtotal Subsidies from LMIHF (Sum of Lines 1— 4)
$ 0
c. Debt Service [33334.2(eX9)1. If paid from LHIHF, report CHIRP'S share of debt service. If paid from
Debt Service Fund, ensure "gross" tax increment is reported on HCD-A(s) Line 3a(1).
(1)
Debt Principal Payments
(a) Tax Allocation, Bonds & Notes
$ 2,069,439
(b) Revenue Bonds & Certificates of Participation
$
(c) City/County Advances & Loans
$
(d) U. S. State & Other Long —Term Debt
$
(2)
.Interest Expense
$
(3)
Debt Issuance Costs
$
(4)
Other [Explain and identify amount(s)]:
(5)
Subtotal Debt Service (Sum of Lines 1— 4)
$ 2,069,439
d. Planning and Administration Costs [33334.3(e)(1)l:
(1)
Administration Costs
$
(2)
Professional Services (non project syecific)
$
(3)
Planning/Survey/Design (non project specific)
$ 4,153,923
(4)
Indirect Nonprofit Costs [33334.3(e)(1)(B)]
$
(5)
Other [Explain and identify amount(s)]:
(6)
Subtotal Planning and Administration (Sum of Lines 1— 5)
$ 4,153,923 89
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C 78
Sch C (7/1/04) _
Agency Name: La Qminta Redevelopment Agency
4. Expenditures, Loans, and Other Uses (continued)
e.
On/Off-Site Improvements [33334.2(e)(2)] Complete item 13
$
f.
Housing Construction [33334.2(e)(5)]
$
g.
Housing Rehabilitation [33334.2(e)(7)]
$
h.
Maintenance of Mobilehome Parks [33334.2(e)(10)]
$
i.
Preservation of At -Risk Units [33334.2(e)(11)]
$
j.
Transfers Out of Agency
(1) For Transit village Development Plan (33334.19) $
(2) Excess Surplus [33334.12(a)(1)(A)] $
(3) Other (specify code section authorizing transfer and amount)
A. Section $
B. Section $
Other Transfers Subtotal $
(4) Subtotal Transfers Out of Agency (Sum of j(1) through j(3))
$ 0
k.
1.
Other Expenditures, Loans, and Uses [Explain and identify amount(s)]:
Transfers to City of La Quinta $14,323,646
S
S
Subtotal Other Expenditures, Loans, and Uses $ 14,323,646
Total Expenditures, Loans, and Other Uses (sum of lines 4a: k.) $ 20,547,008
5. Net Resources Available [End of Reporting Fiscal Year]
[Page 1, Line 3, Total Resources minus Total Expenditures, Loans, and Other Uses on Line 4.1.] $ 67,169,223
6. Encumbrances and Unencumbered Balance
a. Encumbrances. Amount of Line 5 reserved for future payment of legal contract(s)
or agreement(s). See Section 33334.12(g)(2) for definition. $ 59,780,407
.Refer to item 10 on Sch A(s) and item 4 on Sch-B.
b. Unencumbered Balance (Line 5 minus Line 6a). Also enter on Page 4, Line 1 la. $ 7,3889816
7. Designated/Undesignated Amount of Available Funds
A
Designated From Line 6b.-Budgeted/planned to use near -term
$
portion
Refer to item 10 on Sch A(s) and item 4 on Sch-B
b.
Undesignated From Line 6b- Not yet budgeted/planned to use
$
portion
8. Other Housing Fund Assets (not included as part of Line 5)
a.
Indebtedness from Deferrals of Tax Increment (Sec. 33334.6)
[refer to Sch A(s), Line 5c (2)].
$
b.
Value of Land Purchased with Housing Funds and Held for
Development of Affordable Housing. Complete Sch-C item 14.
$
c.
Loans Receivable for Housing Activities
$
d.
Residual Receipt Loans (periodic/fluctuating payments)
$
e.
ERAF Loans Receivable (all years) (Sec. 33681)
$
f
Other Assets [Explain and identify amount(s)]:
s
9. Total Other Housing Fund Assets (Sum of lines 8a.-f.) $ 0
9. TOTAL FUND EQUITY[Line 5 (Net Resources Available) +8g (Total Other Housing Fund Assets] $ 67,169,223
Compare Line 9 to the below amount reported to the SCO (Balance Sheet of Redevelopment Agencies
Financial Transactions Report. [Explain differences and identify amount(s)]:
ENTER LOW -MOD FUND TOTAL EQUITIES (BALANCE SHEET) REPORTED TO SCO $ 67,169
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch C (7/l/04)
HCD-C
Agency Name: La Ouinta Redevelopment Agency
Excess Surplus Information
Pursuant to Section 33080.7 and Section 33334.12(g)(1), report on Excess Surplus that is required to be determined on the first day
of a fiscal year. Excess Surplus exists when the Adjusted Balance exceeds the greater of: (1) $1,000,000 or (2) the aggregate amount
of tax increment deposited to the Housing Fund during the prior four fiscal years. Section 33334.12(g)(3)(A)'and (B) provide that
the Unencumbered Balance can be adjusted for: (1) any remaining revenue generated in the reporting year from unspent debt proceeds
and (2) if the land was disposed of during the reporting year to develop affordable housing, the difference between the fair market value
of land and the value received.
The Unencumbered Balance is calculated by subtracting encumbrances from Net Resources Available. "Encumbrances" are funds
reserved and committed pursuant to a legally enforceable contract or agreement for expenditure for authorized redevelopment housing
activities [Section 33334.12(g)(2)].
For Excess Surplus calculation purposes, carry over the prior year's HCD Schedule C Adjusted Balance as the Adjusted Balance on the
first day of the reporting fiscal year. Determine which is larger: (1) $1 million or (2) the total of tax increment deposited over the prior
four years. Subtract the largest amount from the Adjusted Balance and, if positive, report the amount as Excess Surplus.
10. Excess Surplus:
Complete Columns 2, 3, 4, & 5 to calculate Excess Surplus for the reporting year. Columns 6 and 7 track prior years' Excess Surplus.
Column 1
Column 2
Column 3
Column 4
Column 5
Column 6
Column 7
Sum of Tax
Current
Current
Amount
4 Prior and
Total Tax
Increment
Reporting Year
Reporting Year
Expended/Encumbered
Remaining Excess
Current
Increment
Deposits Over
Is'Day
Is'Day
Against FY Balance of
Surplus for Each
Reporting
Deposits to
Prior Four
Adjusted
Excess Surplus
Excess Surplus as of
Fiscal Year as of
Yew
Housing Fund
FYs
Balance
Balances
End of Reporting Year
End of Reporting Year
4 Rot Yrs Ago
FY 1999-00
$ 4,449,326
$
$
$
3 RRt Yrs Ago
FY 2000-01
$ 5,254,713
$
$
$
2 Rpt Yrs Ago
FY 2001-02
$ 6,513,699
$
$
$
1 RRt Yr Ago
FY 2002-03
$ 7,750,765
Sum of Column 2 Last Year's Sch C
$
Col 4 minus: lard
$
$
CURRENT
Reporfin
Adjusted Balance
of Col 3 or $1 mm
Year
eport positive $)
FY 2003-04
$�23,968,503`
$�1,409.080
$ 0
$
$
11. Reporting Year Ending Unencumbered Balance and Adjusted Balance:
a. Unencumbered Balance (End of Year) [Page 3, Line 6b] $ 7,388,816
b. If eligible, adjust the Unencumbered Balance for:
(1) Debt Proceeds [33334.12(gx3)(B)]:
Identify unspent debt proceeds and related income remaining at end of reporting year $
(2) Land Conveyance Losses [(33334.12(gx3)(A))]:
Identify reporting year losses from sales/grants/leases of land acquired with low -mod funds,
if 49% or more of new or rehabilitated units will be affordable to lower -income households $
12. Adjusted Balance (for next year's determination of Excess Surplus) [Line 1 la minus sum of 1 lb(1) and 1 lb(2)] $ 7,388,816
Note: Do not enter Adjusted Balance in Col 4. It is to be reported as next year's 1st day amount to determine Excess Surp
a. If there is remaining Excess Surplus from what was determined on the first day of the reporting year, describe
the agency's plan (as specified in Section 33334.10) for transferring, encumbering, or expending excess surplus:
b. If the plan described in 12a. was adopted, enter the plan adoption date:
California Redevelopment Agencies — Fiscal Year 2003-2004
Sch C (7/1/04)
mo day yr
gl
HCD-C
80
Agency Name: La Quints Redevelopment Agency
Miscellaneous Uses of Funds
13. If an amount is reported in 4e., pursuant to Section 33080.4(ax6), report the total number of very low-, low-, and moderate -income
households that directly benefited from expenditures for onsite/offsite improvements which resulted in either new construction,
rehabilitation, or the elimination of health and safety hazards. (Note: If Line 4e of this schedule does not show expenditures for
improvements, no units should be reported here.)
Income
Level
Households
Constructed
Households
Rehabilitated
Households Benefiting
from Elimination of
Health and Safety Hazard
Duration of Deed Restriction
Very Low
Low
Moderate
14. If the agency is holding land for future housing development (refer to Line 8b), summarize the acreage (round to tenths, do not
report square footage), zoning, date of purchase, and the anticipated start date for the housing development.
Site NamelLocation*
No. of
Acres
Zoning
Purchase
Date
Estimated Date
Available
Comments
Please attach a separate sheet of paper listing any additional sites not reported above.
15. Section 33334.13 requires agencies which have used the Housing Fund to assist mortgagors in a homeownership mortgage
revenue bond program, or home financing program described in that Section, to provide the following information:
a. Has your agency used the authority related to definitions of income or family size adjustment factors provided in Section
33334.13(a)?
Yes ❑ No ❑ Not Applicable ED
b. Has the agency complied with requirements in Section 33334.13(b) related to assistance for very low-income households
equal to twice that provided for above moderate -income households?
Yes ❑ No ❑ Not Applicable
92
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C
81
sch C (7iv04)
Agency Name: La Quinta Redevelopment Agency
16. Did the Agency use non-LMIHF funds as matching fimds for the Federal HOME or HOPE program during the reporting period?
YES ❑ NO
If yes, please indicate the amount of non-LMEU funds that were used for either HOME or HOPE program support.
HOME $ HOPE $
17. Pursuant to Section 33080.4(a)(11), the agency shall maintain adequate records to identify the date and amount of all LMIHF
deposits and withdrawals during the reporting period. To satisfy this requirement, the Agency should keep and make available
upon request any and all deposit and withdrawal information. DO NOT SUBMITANY
Has your agency made any deposits to or withdrawals from the LMIU? Yes ❑ No ❑
If yes, identify the document(s) describing the agency's deposits and withdrawals by listing for each document, the following
(attach additional pages of similar information below as necessary):
Name of document (e.g. ledger, journal, etc.): Comprehensive Annual Financial Re ort
Name of Agency Custodian (person): John Falconer
Custodian's telephone number: 760 777-7150
Place where record can be accessed: Finance ftarttnent/City Hall
Name of document (e.g. ledger, journal, etc.):
Name of Agency Custodian (person):
Custodian's telephone number:
Place where record can be accessed:
18. Use of Other (non Low -Mod Funds) Redevelopment Funds for Housing
Please briefly describe the use of any non LNEW redevelopment funds (i.e., contributions from the other 80% of tax increment
revenue) to construct, improve, assist, or preserve housing in the community.
19. Sueaestions/Resource Needs
Please provide suggestions to simplify and improve future agency reporting and identify any training, information, and/or other
resources, etc. that would help your agency to more quickly and effectively use its housing or other funds to increase, improve,
and preserve affordable housing?
20. Annual Monitoring Reports of Previously Completed Affordable Housing Proiects/Proerams (H&SC 33418)
Were all Annual Monitoring Reports received for all prior years' affordable housing projects/programs?: Yes ® No ❑
93
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C
Sch C (7/1/04) $ 2
Agency Name: La Ouinta Redevelopment Agency
21. Project Achievement and HCD Director's Award for Housine Excellence
Project achievement information is optional but can serve important purposes: Agencies' achievements can inform others of
successful redevelopment projects and provide instructive information for additional successful projects. Achievements may be
included in HCD's Annual Report of Housing Activities of California Redevelopment Agencies to assist other local agencies in
developing effective and efficient programs to address local housing needs.
In addition, HCD may select various projects to -receive the Director's Award for Housing Excellence. Projects may be selected
based on criteria such as local affordable housing need(s) met, resources utilized, barriers overcome, and project
innovation/complexity, etc.
Project achievement information should only be submitted for one affordable residential project that was completed within the
reporting year as evidenced by a Certificate of Occupancy. The project must not have been previously reported as an achievement.
To publish agencies' achievements in a standard format, please complete information for each underlined category
below addressing suggested topics in a narrative format that does not exceed two pages (see example, next page). In
addition to submitting information with other HCD forms to the State Controller, please submit achievement
information on a 3.5 inch diskette and identify the software type and version. For convenience, the diskette can be
separately mailed to: HCD Policy Division, 1800 3'd Street, Sacramento, CA 95814 or data can be emalled by
attaching the file and sending it to: atorrens(c-,hcd ca.gov or Hevy(g)hcd ca.gov.
AGENCY INFORMATION
• Project Type (Choose one of the categories below and one kind of
assistance representing the primary project type):
New/Additional Units (Previously Unoccupied/Uninhabitable):
Existing Units (Previously Occupied)
- New Construction to own
- Rehabilitation of Owner -Occupied
- New Construction to rent
- Rehabilitation of Tenant -Occupied
- Rehabilitation to own
- Acquisition and Rehabilitation to Own
- Rehabilitation to rent
- Acquisition and Rehabilitation to Rent
- Adaptive Re -use
- Mobilehomes/Manufactured Homes
- Mixed Use Infill
- Payment Assistance for Owner or Renter
- Mobilehomes/Manufactured Homes
- Transitional Housing
- Mortgage Assistance
- Other (describe)
- Transitional Housing
- Other (describe)
• Agency Name:
• Agency Contact and Telephone Number for the Project:
DESCRIPTION
• Project Name
• Clientele served [owner, renter, income group, special need (e.g. large family or disabled), etc.]
• Number and type of units and location, density, and size of project relative to other projects, etc.
• Degree of affordability/assistance rendered to families by project, etc.
• Uniqueness (land use, design features, additional services/amenities provided, funding sources/collaboration, before/after project
conversion such as re -use, mixed use, etc.)
• Cost (acquisition, clean-up, infrastructure, conversion, development, etc.)
HISTORY
• Timeframe from planning to opening
• Barriers/resistance (legal/financial/community, etc.) that were overcome
• Problems and creative solutions found
• Lessons learned and/or recomrnendations for undertaking a similar project
AGENCY ROLE AND ACHIEVEMENT
• Degree of involvement with concept, design, approval, financing, construction, operation, and cost, etc.
• Specific agency and/or con n unity goals and objectives met, etc.
94
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C
83
Sch C (7iliO4)
Agency Name: La Qtiinta Redevelopment Agency
ACHIEVEMENT EXAMPLE
Protect Type: NEW CONSTRUCTION- OWNER OCCUPIED
Redevelopment Agency
Contact: Name (Area Code) Telephone #
Project/Program Name:
Project or Program
Description
During the reporting year, construction of 12 homes was completed. Enterprises,
which specializes in community self-help projects, was the developer, assisting 12 families in the
construction of their new, homes. The homes took 10 months to build. The families' work on the homes
was converted into "sweat equity' valued at $15,000. The first mortgage was from CHFA. Families were
also given an affordable second mortgage. The second and third mortgage loans were funded by LMIHF
and HOME funds.
History
The City or County) of struggled for several years over what to do about the
area. The tried to encourage development in the area by rezoning a
large portion of the area for multi -family use, and twice attempted to create improvement districts. None
of these efforts were successful and the area continued to deteriorate, sparking growing concern among
city officials and residents. At the point that the Redevelopment Agency became involved, there was
significant ill will between the residents of the and the (City or County). The
introduced the project in with discussions of how
the Agency could become involved in improving the blighted residential neighborhood centering on
. This area is in the core area of town and was developed with
disproportionately narrow, deep lots, based on a subdivision plat laid in 1950. Residents built their homes
on the street frontages of and leaving large back -lot
areas that were landlocked and unsuitable for development, having no access to either avenue. The
Agency worked with 24 property owners to purchase portions of their properties. Over several years, the
Agency purchased enough property to complete a tract map creating access and lots for building. Other
non -profits have created an additional twelve affordable homes.
Agency Role
The Agency played the central role. The Project is a classic example of
successful redevelopment. All elements of blight were present: irregular, land -locked parcels without
access; numerous property owners; development that lagged behind that of the surrounding municipal
property; high development cost due to need for installation of street improvements, utilities, a storm
drain system, and undergrounding of a flood control creek; and a low-income neighborhood in which
property sale prices would not support high development costs. The Agency determined that the best
development for the area would be single-family owner -occupied homes. The Agency bonded its tax
increment to fund the off -site improvements. A tract map was completed providing for the installation
of the street improvements, utilities, storm drainage, and the undergrounding of Creek.
These improvements cost the Agency approximately $1.5 million. In lieu of using the eminent domain
process, the Agency negotiated with 22 property owners to purchase portions of their property, allowing
for access_to the landlocked parcels. This helped foster trust and good will during the course of the
negotiations. The Project got underway once sufficient property was purchased.
g5
California Redevelopment Agencies — Fiscal Year 2003-2004 HCD-C
84
Sch C (7/1/04)
SCHEDULE HCD-D1
GENERAL PROJECT/PROGRAM INFORMATION
For each different Project/Program (area/name/aov or nonaoy dev/rental or owner), complete a D1 and applicable 132-137.
Examples.,
1: 25 minor rehab (Nonagy Dev): Area 1: 15 Owner, Area 2. 6 Rental; & Outside: 4 Rental. Complete 3 D-1s & 3 D-5s.
2: 20 sub rehab (nonrestricted): Area 3. 4 Agy Dev. Rentals; 16 Nonagy Dev. Rentals. Complete 2 D-1s & 2 D-5s.
3: 15 sub rehab (restricted): Area 4: 15 Nonagy Dev, Owner. Complete 1 D-1 & 1 D-3.
4: 10 new (Outside). 2 Agy Dev (restricted Rental), 8 Nonagy Dev (nonrestricted Owner) Complete 2 D-1s, 1 D-4, & 1 D-5.
Name of Redevelopment Agency:
Identify Project Area or specify "Outside":
General Title of Housing ProjectlProgram:
Project/Program Address (optional):
Owner Name (optional): Various
Total Project/Program Units: # 21
La Quinta Redevelopment Agency
Project Area No. 1
La Quinta Housing Program — Home Purchase Loan Program
various addresses — in -fill lots
Restricted Units: # 21 Unrestricted Units: # 0
Was this a federally assisted multi -family rental project [Gov't Code Section 65863.10(a)(3)]? ❑YES ®NO
Number of units occupied by ineligible households (e.g. ineligible income/# of residents in unit) at FY end # 0
Number of bedrooms occupied by ineligible persons (e.g. ineligible income/# of residents in unit) at FY end # 0
Number of units restricted for special needs: (number must not exceed "Total Project Unitsl # 0
Number of units restricted that are serving one or more Special Needs: # 0 ❑ Check, if data not available
(Note: A unit may serve multiple "Special Needs" below. Sum of all the below can exceed the "Number of Units" above)
t 0 DISABLED (Mental) # 0 FARMWORKER (Permanent) # 0 TRANSITIONAL HOUSING
t 0 DISABLED (Physical) # 3 FEMALE HEAD OF HOUSHOLD 1#0 ELDERLY
t 0 FARMWORKER (Migrant) # 0 LARGE FAMILY # 0 EMERGENCY SHELTERS
(4 or more Bedrooms) (allowable use o /Y with "Other Housing
Units Provided - Without LMIHFA Sch-D6
Aftlul o%nfh/vaar iminn digits. em. 07/0112002):
Affordability anator s eciai rreea Ub@ rWOU wAwII
Re lacement HousingUnits
I W105 W..V-%P.
Inclusions HousingUnits
Other HousingUnits Provided
With LMIHF
Without LMIHF
Restriction Start Date 7/1 /2003 to 6/30/2004
7/1 /2003 to 6/30/2004
45 Years
Restriction End Date 45 Years J
Funding Sources:
Redevelopment Funds:
$ 1,379,616.00
Federal Funds
$
State Funds:
$
Other Local Funds:
$
Private Funds:
$
Owner's Equity:
$
TCAC/Federal Award:
$
TCAC/State Award:
$
Total Development/Purchase Cost:
$1.37
Check all appropriate form(s) below that will be used to identify all of this Project's/Program's Units:
® Replacement Housing Units
(Sch HCD-D2)
Inclusionary Units:
0 Inside Project Area (Sch HCD-D3)
❑ Outside Project Area (Sch HCD-D4)
Other Housing Units Provided.
❑ With LMIHF (Sch HCD-D5)
❑ Without LMIHF (Sch HCD-D6)
❑ No Agency Assistance (Sch HCD-137)
g6
California Redevelopment Agencies - Fiscal Year 2003-2004 HCD-DI 85
Sch DI (7/1/04)
SCHEDULE HCD-D2
REPLACEMENT HOUSING UNITS
(units not claimed on Schedule D-5,6,7)
restricted units that fulfill requirement to replace previously destroyed or removed units)
Agency: La Quinta Redevelopment Agency
Redevelopment Project Area Name, or "Outside": Project Area No. 1
Affordable Housing Project Name: La Quinta Housing Program - Home Purchase Loan Program
Check only one:
® Inside Project Area
❑ Outside Project Area
Check only one. 1f both apply, complete a separate form for each (with another Sch D-1):
❑ Aciengy Developed ® Non -Agency Developed
Check only one. if both apply, complete a separate form for each (with another Sch D-1):
❑ Rental ® Owner -Occupied
Enter thenumber umber of restricted replacement units and bedrooms for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction:
Elderly Units Non Elderly Units Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
[-0- 1 0 0 0 0 0 4 7 11 0 4 7 11
Count of Bedrooms (e.e.: 1 elderly, low. 2 bdrm unit and 4 nonelderly, low, 2 bdrm units =10 low (2 bdrms a 5)
1 Bedroom Unit (1 x # of units) 2 Bedroom Unit (2 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 -F 0 0 0 0 0 0 0
3 Bedroom Unit (3 x # of units) 4 or more Bedroom Unit (4 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 12 21 0 0 0 0
33 0
TOTAL (sum of all unit Bedrooms)
VLOW LOW MOD TOTAL INELG.
0 1 12 1 21 33
B. Substantial Rehabilitation (Post 931AB 1290 definition: increased value, inclusive of land, is >25%):
Elderly Units Non Elderly Units Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. 'VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 0 0 0 0 0 0 0 0 0
_Count of Bedrooms (e.e.: 1 elderly, mod,1 bdrm unit and 2 nonelderly. mod.1 bdrm units = 3 mod (1 bdrms a 3)
1 Bedroom Unit (1 x # of units) 2 Bedroom Unit (2 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
1-0
0 0 0 � 0 0 0 0
3 Bedroom Unit (3 x 0 of units) 4 or more Bedroom Unit (4 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 M0 0 0 0 0
TOTAL (sum of all unit Bedrooms)
VLOW LOW MOD TOTAL INELG.
0 0 0 0 r 0�
California Redevelopment Agencies - Fiscal Year 2003-2004
Sch D2 (7/1/04)
HCD-D2 g
8,6
Agency Name: La �i to Redevelopment Agency Housing Project Name:
SCHEDULE HCD-D2
REPLACEMENT HOUSING UNITS (continued)
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
C. Non -Substantial Rehabilitation (fulfills Pre 94 Replacement Obligation):
Elderly Units Non Elderly Units Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL, INELG.
r-O 0 1 0 4 0 0 0 0 0 0 0 0 0
Count of Bedrooms (e.e.: 3 nonelderly, vlow. 3 bdrm units and 4 nonelderly 4 bdrm units TOTAL 25 bdrms)
1 Bedroom Unit (1 x # of units) 2 Bedroom Unit (2 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 0 0 0 0
3 Bedroom Unit (3 x # of units) 4 or more Bedroom Unit (4 x # of units)
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 �� 0 0 0
TOTAL (sum of all unit Bedrooms)
VLOW LOW MOD TOTAL INELG.
0 r-0 0 0
TOTAL =S (Add only TOTAL of all "Total Elderly / Non Elderly Units" not bedrooms): FMI
If TOTAL UNITS is less than "Total Project Units" on HCD Sch D1, report the remaining units as instructed below
Check all aDDroDriate form(s) listed below that will be used to identify remaining Project Units to be reported:
Inclusionary Units
® Inside Project Area (Sch HCD-133)
❑ Outside Project Area (Sch HCD-134)
Other Housing Units Provided:
❑ With LMIHF (Sch HCD-135)
❑ Without LMIHF (Sch HCD-136)
❑ No Assistance (Sch HCD-137)
Identify the number of Replacement Units which also have been counted as Inclusionary Units:
Elderly Units Non Elderly Units $ Total Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 1 0 0 0 0 0 0 0 0 a 0 0 0 0
M
Califomia Redevelopment Agencies - Fiscal Year 2003-2004 HCD-D2 87
Sch D2 (7/1/04)
SCHEDULE HCD-D3
INCLUSIONARY HOUSING UNITS IN( PROJECT AREA)
(units not claimed on Schedule D-4,5,6,7)
(units with required affordability restrictions that agency or community controls)
Agency: La Quinta Redevelopment Agency
Redevelopment Project Area Name: Project Area No. 1
Affordable Housing Project Name: La Quinta Housing Program — Home Purchase Loan Program
Check only one. If both apply, complete a separate form for each (with another Sch-131):
❑ 6gengy Developed ® Non-AQencv Developed
Check only one. if both apply, complete a separate form for each (with another Sch-131):
❑ Rental ® Owner -Occupied
Enter the number of units for each applicable activity below:
Note: "INELG" refers to a household that is no longer eligible but still a temporary resident and part of the total
A. New Construction Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 0 0 1 10 1 0 10 0 D
0 10
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): 0
B. Substantial Rehabilitation (Post-93/AB 1290 Definition of Value >25%• Credit for Obligations Since 1994):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 0 0 0 0 J2J
0 0 0 0 0
Of Total, identify the number aggregated from other project areas (see HCD-A(s), Item 8): 0
C. Other/Substantial Rehabilitation (Pre-94/AB 1290 Definition: Credit for Obligations Between 1976 and 19941:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL. INELG. VLOW LOW MOD TOTAL INELG.
0 0-1 0 0--1 0
0 0 0 0 0 (�0 0 0 0 0
l�_..�J
D. Acquisition of Covenants (Post-93/AB 1290 Reform: Only Multi -Family Vlow & Low & Other Restrictions):
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
P-0
0 0 0 0 0 0 0. 0 0 0
TOTAL UNITS Add only TOTAL of all "TOTAL Elderly / Non Elderly Units„): 10
Ij TOTAL UNITS is less than "Total Project Units" on HCD Schedule D1, report the remaining units as instructed below.
Check all appropriate form(s) listed below that will be used to identify remaining Project Units to be reported:
® Replacement Housing Units ❑ Inclusionary Units Qutside Project Area) Other Housing
h LMIHF (Sch HCD D5)
(Sch HCD-D2) (Sch HCD D4) ❑
❑ Without LMIHF (Sch HCD-D6)
❑ No Assistance (Sch HCD-D7)
Identify the number of Inclusionary Units which also have been counted as Replacement Units:
Elderly Units Non Elderly Units TOTAL Elderly & Non Elderly Units
VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG. VLOW LOW MOD TOTAL INELG.
0 0 0 0 0 0 0 0 0 0 0 0 0
g�3
California Redevelopment Agencies - Fiscal Year 2003-2004 HCD-D3 88
Sch D3 (7/1/04)
4 SepQ�rw
COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE: Approval of Annual Continuing Disclosure
for the La Quinta Redevelopment Agency 1998, 2001,
2002 and 2003 Tax Allocation Bonds for Fiscal Year
End June 30, 2004
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve, receive and file the Annual Continuing Disclosure for the La Quinta
Redevelopment Agency 1998, 2001, 2002 and 2003 Tax Allocation Bonds for Fiscal
Year End June 30, 2004.
FISCAL IM PUCATIONS:
None.
CHARTER CITY IM PUCATIONS:
None.
BACKGROUND AND OVERVIEW:
On November 10, 1994, the Securities and Exchange Commission adopted
amendments to existing federal regulations (Rule 15c2-12) for bonds issued after July
3, 1995, requiring issuers of municipal securities (Bond issues) to do the following
annually for each bond issue:
1. Prepare official statements meeting the content requirement of Rule
15c2-12;
2. File certain financial information and operating data with national and
state repositories each year; and
too
3. Prepare announcements of the significant events including payment
defaults, defeasances and draws on a reserve fund as the events occur.
Attachment 1 is the 2003104 Annual Continuing Disclosure Statement for the
La Quinta Redevelopment Agency 1998 Housing Tax Allocation Bonds prepared in
accordance with the three aforementioned requirements. Additionally, no
announcement of significant events was necessary for Fiscal Year 2003/04.
In addition, the Agency has issued disclosure reports for the 2001, 2002, 2003 and
2004 RDA Tax Allocation Bond issues (see Attachment 1) .
FINDINGS AND ALTERNATIVES:
The alternatives available to the Redevelopment Agency Board include:
1. Approve, receive and file the Annual Continuing Disclosure for the La Quinta
Redevelopment Agency 1998, 2001, 2002, 2003 and 2004Tax Allocation
Bonds for Fiscal Year End June 30, 2004; or
1. Do not approve, receive and file the Annual Continuing Disclosure for the
La Quinta Redevelopment Agency 1998, 2001, 2002, 2003 and 2004 Tax
Allocation Bonds for Fiscal Year End June 30, 2004; or
3. Provide staff with alternative direction.
Respectfully submitted,
John M. Falconer, Finance Director
Approved for submission by:
10,
.
homas P. Genovese, Executive Director
Attachment: 1. 2003/04 Annual Continuing Disclosure Statement for the RDA
1998, 2001, 2002,2003 and 2004 Tax Allocation Bonds
2
ATTACHMENT 1
LA QUINTA REDEVELOPMENT AGENCY
$15, 760,00 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 1 TAX ALLOCATION
REFUNDING BONDS, SERIES 1998
Riverside County, California
Dated: June 1, 1998
CUSIP: 504194
2004 ANNUAL CONTINUING DISCLOSURE
INFORMATION STATEMENT
As of December 12004
Also available at:
MuniFinancial
www.muni.com
102
3
LIST OF PARTICIPANTS
CITY OF LA QUINTA
John Falconer
Finance Director
P.O. Box 1504
78-495 Calle Tampico
La Quinta, California 92247
(760) 777-7150
Miller & Schroeder Financial, Inc.
SONV COUNSEL
Rutan & Tucker LLP
Costa Mesa, California
TRUSTEE
Brad Scarbrough
U.S. Bank Trust, N.A.
633 West 5th Street, 24th Floor
Los Angeles, California 90071
(213) 613-6047
* In its role as Disclosure Consultant and Dissemination Agent, MuniFinancial has not passed upon the accuracy,
completeness or fairness of the statements contained herein.
1o3
4
1. INTRODUCTION
Pursuant to an Official Statement dated June 1, 1998, the La Quinta Redevelopment Agency
(the "Agency") issued $15,760,000 La Quinta Redevelopment Project Area No. 1 Tax Allocation
Refunding Bonds, Series 1998, (the "1998 Bonds"). The 1998 Bonds are being issued for the
purpose of refinancing the Agency's La Quinta Redevelopment Project, Tax Allocation Bonds,
Series 1991 (the "1991 Bonds"). The 1998 Bonds are payable on a parity with the Agency's
previously issued La Quinta Redevelopment Project, Tax Allocation Refunding Bonds, Series
1994 (the "1994 Bonds"), the Agency's previously issued La Quinta Redevelopment Project
Area No. 1 Tax Allocation Bonds, Series 2001 (the "2001 Bonds"), the Agency's previously
issued La Quinta Redevelopment Project Area No. 1, Tax Allocation Bonds, Series 2002 (the
"2002 Bonds") and the Agency's La Quinta Redevelopment Project Area No. 1, Tax Allocation
Bonds, Taxable Series 2003 (the "2003 Bonds") (collectively the "Bonds").
The City of La Quinta, (the "City") which comprises approximately 34.8 square miles, is located
in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los Angeles.
Redevelopment Project Area No. 1, (the "Project Area No. 1") encompasses an area of
approximately 11,200 acres, which includes approximately 50.3% of the current area of the City.
The objective of the Agency is to eliminate or reduce the many instances of economic, physical
or social blight presently existing within the boundaries of the Redevelopment Projects.
The 1998 Bonds are special obligations of the Agency and are secured by a pledge of Pledged
Tax Revenues, as defined in the Official Statement. The 1998 Bonds are not a debt of the City,
the State of California, or any of its political subdivisions and neither the City, the State of
California, nor any of its political subdivisions is liable. The 1998 Bonds do not constitute
indebtedness within the meaning of any constitutional or statutory debt limit or restriction.
This Annual Information Statement is being provided pursuant to a covenant made by the
Agency for the benefit of the holders of the 1998 Bonds and includes the information specified
in a Continuing Disclosure Certificate. For further information and a more complete description
of the Agency and the 1998 Bonds, reference is made to the Official Statement.
The information set forth herein has been furnished by the Agency and by sources, which are
believed to be accurate and reliable but is not guaranteed as to accuracy or completeness.
Statements contained in this Annual Information Statement which involve estimates, forecasts,
or other matters of opinion, whether or not expressly so described herein, are intended solely as
such and are not to be construed as representations of fact. Further, the information and
expressions of opinion contained herein are subject to change without notice and the delivery of
this Annual Information Statement will not, under any circumstances, create any implication that
there has been no change in the affairs of the Agency or any other parties described herein.
2003104, 1998 TAB City of La Quinta
5
ll. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
_ Bonds As of November 12, 2004
Tax Allocation Refunding Bonds, Series 1998 $15,760,000
B. FUND BALANCES
Fund As of November 12, 2004
Reserve Fund N/A
(1) The Reserve Fund is funded by a Reserve Account Surety Bond issued by the Ambac Assurance Corporation.
Ill. FINANCIAL INFORMATION
The audited financial statements for the Agency for the fiscal year ended June 30, 2004
will be separately filed with the Nationally Recognized Municipal Securities Information
Repositories and are hereby incorporated by reference into this Annual Information
Statement.
IV. OPERATING INFORMATION
A. ASSESSED VALUATIONS
The .following table set forth the Taxable Values and the Gross Tax
Increment for the Project Area No. 1.
Protect Area No.1
Fiscal
Year
Secured
Value
Unsecured
Value
Utility
Value
Total Taxable
Value
Taxable Value
Above Base (')
Gross Tax
Increment
1996/97
$1,297,020,107
$13,821,291
$0
$1,310,841,398
$1,111,443,165
$11,344,856
1997/98
1998/99
1,383,340, 327
1,436,942,643
13,157, 051
8,594,039
0
0
1,396,497, 378
1,445,536,682
1,197,099,145
1,246,138,449
12,161,894
12,877,280
1999/00
1,627,578,717
8,034,814
0
1,635,613,531
1,436,215,298
15,659,371
2000/01
2001/02
1,927,812,440
2,287,724,601
14,948,366
14,486,563
0
0
1,942,760,806
2,302,211,164
1,743,362,573
2,102,812,931
18,685,564
20,929,840
2002/03
2003/04
2,688,732,575
3,062,917,787
13,980,069
13,537,804
0
0
2,702,712,644
3,076,455,591
2,503,314,411
2,877,057,358
26,357,623
29,958,693
2004/05
3,411,082,100
13,813,852
0
3,424,895,952
3,225,497,719
Not Available
(1) The Base Value for the Project Area No. 1 is $199,398,2A
Source: Riverside County and Audited Financial Statements of the La Quinta Redevelopment Agency.
2003104, 1998 TAB City of La Quinta
r~
B. LAND USE
PROJECT AREA NO.1
2003104 Total
Percent
Land Use
Secured Value
of Total
Residential
$2,670,014,127
84.39%
Vacant
335,399,838
10.60%
Commercial
118,804,680
3.76%
Recreational
37,757,250
1.19%
Institutional (2)
1,143,792
0.04%
Miscellaneous/Unknown
696,704
0.02%
Total Project Area No.1 $3,163,816,391 100.00%
(1) Includes agriculture and office building uses.
(2) Includes government buildings, medical services, and churches.
Source: Rosenow Spevacek Group, Inc.
C. PLEDGED TAX REVENUES AND DEBT SERVICE COVERAGE
The following table sets forth the amount of Gross Tax Increment and the
combined Debt Service Coverage for the Bonds.
Less
Maximum
Less:
Less:
Subordinated
Maximum
Annual Debt
Fiscal
Gross Tax
Nonsubordinated
Housing
Pledged
Pass
Net
Annual Debt
is)
Service
Year
Increment
Pass Throughs")
Set Aside
Revenues
Throughs(�)
Revenues
Service
Coverage
2001/02
$20,929,840
$1,168,978
$4,488,487
$15,272,375
$7,025,471
$8,246,904
$3,697,867
2.23
2002/03
26,357,623
1,378,611
5,271, 524
19,707,488
8,371,098
11,336,390
7,887,768(4)
1.43
2003/04
29,958,693
1,355,988
5,991,739
22,610,966
8,603,713
14,007,253
9,890,703
1.41
(1) The Agency has entered into an agreement with the Coachella Valley Mosquito Abatement District, the Coachella Valley Water
District, and the Coachella Valley Unified School District to pass through Tax Increment on a nonsubordinated basis. Please
note, although the Coachella Valley Unified School District pass -through is presented as non -subordinated, it is' non -
subordinate only to debt service on the 2002 Bonds and is subordinate to all other debt service.
(2) The Agency's subordinated pass-throughs include the County of Riverside, the Desert Sands Unified School District, and the
Desert Community College District.
(3) The combined Maximum Annual Debt Service on the 2003 Bonds, 2002 Bonds, 2001 Bonds, the 1998 Bonds and the 1994
Bonds is payable in the year 2032 in the amount of $9,890,703. A portion of the Housing Set Asides is pledged towards the
payment of 18.5% of the debt service on the 1994 Bonds.
(4) Annual Debt Service on the 2003 Bonds begins in fiscal year 2003/04.
Source: Audited Financial Statements of the La Quinta Redevelopment Agency and the Statement of Indebtedness filed with the
Riverside County Auditor -Controller's Office.
20031044, 1998 TAB City of La Quints
D. ANNUAL DEBT SERVICE
The following table sets forth the annual debt service for the 1994 Bonds, the
1998 Bonds, 2001 Bonds, 2002 Bonds and the 2003 Bonds. Information
contained in the table below was gathered and verified from the corresponding
Official Statements.
Maturity Date
1994
1998
2001
2002
2003
Combined
September 1,
Bonds
Bonds
Bonds
Bonds
Bonds
Debt Service
2005
$2,162,044
$819,520
$2,430,720
$2,474,381
$1,999,190
$9,885,855
2006
2,161,857
819,520
2,430,720
2,475,341
1,997,018
9,884,456
2007
2,163,275
819,520
2,430,720
2,473,841
1,999,210
9,886,566
2008
2,161,629
819,520
2,430,720
2,475,391
2,000,554
9,887,814
2009
2,160,695
819,520
2,430,720
2,479,436
1,996,050
9,886,421
2010
2,159,880
819,520
2,430,720
2,475,676
2,000,163
9,885,959
2011
2,162,664
819,520
2,430,720
2,475,176
1,997,640
9,885,720
2012
2,160,003
819,520
2,430,720
2,477,681
1,998,755
9,886,679
2013
0
1,474,520
3,995,720
2,418,281
1,998,235
9,886,756
2014
0
1,475,460
3,997,470
2,413,031
1,996,080
9,882,041
2015
0
1,474,580
4,000,220
2,411,281
1,997,392
9,883,473
2016
0
1,476,880
3,998,720
2,412,781
1,996,208
9,884,589
2017
0
1,472,100
3,997,970
2,417,281
1,997,528
9,884,879
2018
0
1,475,500
3,997,720
2,414,531
1,996,040
9,883,791
2019
0
1,476,560
3,997,720
2,414,781
1,996,744
9,885,805
2020
0
1,475,280
3,997,720
2,412,781
1,999,328
9,885,109
2021
0
1,476,660
3,997,470
2,413,531
1,998,480
9,886,141
2022
0
1,475,440
3,996,720
2,416,781
1,999,200
9,888,141
2023
0
1,476,620
3,997,790
2,412,281
2,001,176
9,887,867
2024
0
1,474,940
3,997,485
2,413,856
1,999,096
9,885,377
2025
0
1,475,400
3,995,550
2,417,356
2,000,680
9,888,986
2026
0
1,472,740
3,996,730
2,417,525
1,997,434
9,884,429
2027
0
1,471,960
4,000,515
2,414,363
1,999,358
9,886,196
2028
0
1,472,800
3,996,395
2,417,869
2,000,808
9,887,872
2029
0
0
3,999,370
3,887,531
1,996,462
9,883,363
2030
0
0
3,998,675
3,888,013
1,996,320
9,883,008
2031
0
0
3,999,055
3,890,550
1,999,738
9,889,343
2032
0
0
0
7,889,631
2,001,072
9,890,703
Total
$17,292,047
$30,153,600
$95,404,776
$78,000,958
$55,965,959
$276,807,339
2003104, 1998 TAB City of La Quinta
V,
DI
LA QUINTA REDEVELOPMENT AGENCY
$6, 750,000 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 2 TAX ALLOCATION
REFUNDING BONDS, ISSUE OF 1998
Riverside County, California
Dated: June 1, 1998
CUSIP: 504194
2004 ANNUAL CONTINUING DISCLOSURE
INFORMATION STATEMENT
As of December 12004
Also available at:
MuniFinancial
www.muni.com�
1
PI
LIST OF PARTICIPANTS
CITY OF tA QUINU
wwwjsoc tints a►r
John Falconer
Finance Director
P.O. Box 1504
78-495 Calle Tampico
La buinta, California 92247
(760) 777-7150
10
L INTRODUCTION
Pursuant to an Official Statement dated June 1, 1998, the La Quinta Redevelopment
Agency (the "Agency") issued $6,750,000 La Quinta Redevelopment Project Area No. 2
Tax Allocation Refunding Bonds, Issue of 1998- (the "Bonds"). The Bonds are being
issued for the purpose of refinancing the Agency's La Quinta Redevelopment Project
Area No. 2, Tax Allocation Bonds, Issue of 1992 (the "1992 Bonds").
The City of La Quinta, (the "City") which comprises approximately 34.8 square miles, is
located in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los
Angeles.
Redevelopment Project Area No. 2 (the "Project Area No. 2") encompasses an area of
approximately 3,116 acres, which includes approximately 14% of the total corporate
area of the City. The objective of the Agency is to eliminate or reduce the many
instances of economic, physical or social blight presently existing within the boundaries
of the Redevelopment Projects.
The Bonds are special obligations of the Agency and are secured by a pledge of
Pledged Tax Revenues, as defined in the Official Statement. The Bonds are not a debt
of the City, the State of California, or any of its political subdivisions and neither the City,
the State of California, nor any of its political subdivisions is liable. The Bonds do not
constitute indebtedness within the meaning of any constitutional or statutory debt limit or
restriction.
This Annual Information Statement is being provided pursuant to a covenant made by
the Agency for the benefit of the holders of the Bonds and includes the information
specified in a Continuing Disclosure Certificate. For further information and a more
complete description of the Agency and the Bonds, reference is made to the Official
Statement.
The information set forth herein has been furnished by the Agency and by sources,
which are believed to be accurate and reliable but is not guaranteed as to accuracy or
completeness. Statements contained in this Annual Information Statement which
involve estimates, forecasts, or other matters of opinion, whether or not expressly so
described herein, are intended solely as such and are not to be construed as
representations of fact. Further, the information and expressions of opinion contained
herein are subject to change without notice and the delivery of this Annual Information
Statement will not, under any circumstances, create any implication that there has been
no change in the affairs of the Agency or any other parties described herein.
2003/04, 1998 TAB Proj 2 City of La Quinta h
1 11
11. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
Bonds As of November 12, 2004
Tax Allocation Refunding Bonds, Issue of 1998 $6,230,000
B. FUND BALANCES
Fund As of November 12 2004
Reserve Fund �'� N/A
1) The Reserve Fund is funded by a Reserve Account Surety Bond issued by the Ambac Assurance Corporation.
111. FINANCIAL INFORMATION
The audited financial statements for the Agency for the fiscal year ended June 30, 2004
will be separately filed with the Nationally Recognized Municipal Securities Information
Repositories and are hereby incorporated by reference into this Annual Information
Statement.
IV. OPERATING INFORMATION
A. ASSESSED VALUATIONS
The following table set forth the Taxable Values and the Gross
Tax Increment for the Project Area No. 2.
PROJECT AREA NO.2
Fiscal Secured Unsecured Utility Total Taxable Taxable Value Gross Tax
Year Value Value Value Value Above Base (') Increment
1996/97 $419,135,799 $3,521,574 $0 $422,657,373 $327,474,618 $3,510,820
1997/98 485,513,978 4,484,841 0 487,998,819 392,816,064 4,107,340
1998/99 557,362,624 , 6,306,503 0 563,669,127 468,486,372 5,085,079
1999/00 653,544,147 5,472,923 0 659,017,070 563,834,315 6,127,144
2000/01 790,754,123 9,600,421 0 800,354,544 705,171,789 7,587,996
2001 /02 1,003,653,582 12,084,137 0 1,015,737,719 920, 554,964 9,004,474
2002/03 1,260,121,204 14,535,754 0 1,274,656,958 1,179,474,203 12,396,203
2003/04 1,510,073,642 20,167,571 0 1,530,241,213 1,435,058,458 15,158,339
2004/05 1,745,868,028 21,504,380 0 1,767,372,408 1,672,189,653 Not Available
(1) The Base Value for the Project Area No. 2 is $95,182,755.
Source: Riverside County and Audited Financial Statements of the La Quinta Redevelopment Agency.
2003104, 1998 TAB Proj 2
City of La Quinta
12
B. PLEDGED TAX REVENUES AND DEBT SERVICE COVERAGE
The following table sets forth the amount of Gross Tax Increment and
Debt Service Coverage for the Bonds.
Maximum
Less:
Less:
Annual
Maximum Annual
Fiscal
Gross Tax
Nonsubordinated
Housing
Pledged
Debt
Debt Service
Year
Increment
Pass Throughs
Set Aside
Revenues
Service 12)
Coverage
1997/98
$4,107,340
$2,181, 302
$821,468
$1,104, 570
$423,788
2.61
1998/99
5,085,079
2,845,255
1,017,016
1,222,808
423,788
2.89
1999/00
6,127,144
3,498,500
1,225,429
1,403,215
423,788
3.31
2000/01
7,587,996
4,445,548
1,517,600
1,624,848
423,788
3.83
2001 /02
9,004,474
5,903,535
2,025,212
1,075,727
423,788
2.54
2002/03
12,396,203
7,539,849
2,479,241
2,377,113
423,788
5.61
2003/04
15,158,339
9,225,122
3,031,668
2,904,549
423,788
6.84
(1) The Agency has entered into agreements with the Riverside County General Fund, Riverside County Library District, Riverside
County Fire District, Riverside County Superintendent of Schools, Coachella Valley Water District, Coachella Valley Recreation
and Parks District, Desert Sands Unified School District, and the Coachella Valley Mosquito Abatement District to pass through
Tax Increment on a nonsubordinated basis.
(2) Maximum Annual Debt Service on the Bonds is payable in the year 2024.
Source: Audited Financial Statements of the La Quinta Redevelopment Agency and the Statement of Indebtedness filed with the
Riverside County Auditor -Controller's Office.
C. LAND USE
PROJECT AREA NO.2
Land Use
2003/04 Total
Secured Value
Percent
of Total
Residential
$1,273,968,936
85.26%
Vacant
78,738,176
5.27%
Commercial
115,442,571
7.73%
Recreational
2,379,146
0.16%
Institutional (2)
3,690,590
0.25%
Miscellaneous/Unknown
19,982,374
1.34%
Total Protect Area No. 2
$1,494,201,793
100.00%
(1) Includes agriculture and office building uses.
(2) Includes government buildings, medical services, and churches.
Source: Rosenow Spevacek Group, Inc.
Y
2003104, 1998 TAB Proj 2
City of La Quinta
112
13
D. ANNUAL DEBT SERVICE
The following table sets forth the annual debt service for the Bonds.
Information contained in the table below was gathered and verified from
the Official Statement.
Maturity Date
September 1,
Principal
Interest
Debt Service
2005
$100,000
$321,292.50
$421,292.50
2006
105,000
317,042.50
422,042.50
2007
110,000
312,527.50
422,527.50
2008
115,000
307,742.50
422,742.50
2009
120,000
302,625.00
422,625.00
2010
125,000
296,475.00
421,475.00
2011
130,000
290,068.75
420,068.75
2012
140,000
283,406.25
423,406.25
2013
145,000
276,231.25
421,231.25
2014
150,000
268,800.00
418,800.00
2015
160,000
261,112.50
421,112.50
2016
170,000
252,912.50
422,912.50
2017
175,000
244,200.00
419,200.00
2018
185,000
235,231.25
420,231.25.
2019
195,000
225,750.00
420,750.00
2020
205,000
215,512.50
420,512.50
2021
215,000
204,750.00
419,750.00
2022
230,000
193,462.50
423,462.50
2023
240,000
181,387.50
421,387.50
2024
255,000
168,787.50
423,787.50
2025
265,000
155,400.00
420,400.00
2026
280,000
141,487.50
421,487.50
2027
295,000
126,787.50
421,787.50
2028
310,000
111,300.00
421,300.00
2029
325,000
95,025.00
420,025.00
2030
345,000
77,962.50
422,962.50
2031
360,000
59,850.00
419,850.00
2032
380,000
40,950.00
420,950.00
2033
400,000
21,000.00
421,000.00
Total
$6,230,000
$5,989,080.00
$12,219,080.00
2003104, 1998 TAB Proj 2
City of La Quints
14
LA QUINTA REDEVELOPMENT AGENCY
$48, 000, 000 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 1 TAX ALLOCATION BONDS
SERIES 2001
Riverside County, California
Dated: August 1, 2001
CUSIP: 504194
2004 ANNUAL CONTINUING DISCLOSURE
INFORMATION STATEMENT
As of December., 2004
Also available at:
MuniFinancial
www.muni.com A
'3
15
LIST OF PARTICIPANTS
CITY OF LA QUiNTA
W'iNw.1-a auin#s.01't
John Falconer
Finance Director
P.O. Box 1504
78-495 Calle Tampico
La Quinta, California 92247
(760) 777-7150
Wedbush Morgan Securities
80NQ :COUNSEL
Rutan & Tucker LLP
Costa Mesa, California
TRUSTEE
Brad Scarbrough
U.S. Bank Trust, N.A.
633 West eh Street, 24th Floor
Los Angeles, California 90071
(213) 613-6047
* In its role as Disclosure Consultant and Dissemination Agent, MuniFinancial has not passed upon the accuracy,
completeness or fairness of the statements contained herein.
1N:,3
L INTRODUCTION
Pursuant to an Official Statement dated August 15, 2001, the La Quinta Redevelopment
Agency (the "Agency") issued $48,000,000 La Quinta Redevelopment Project Area No. 1
Tax Allocation Bonds, Series 2001, (the "2001 Bonds"). The 2001 Bonds are being issued
to finance redevelopment projects benefiting the La Quinta Redevelopment Project Area
No. 1. The 2001 Bonds are payable on a parity with the Agency's previously issued La
Quinta Redevelopment Project, Tax Allocation Refunding Bonds, Series 1994 (the "1994
Bonds"), the Agency's previously issued La Quinta Redevelopment Project Area No. 1 Tax
Allocation Bonds, Series 1998 (the "1998 Bonds"), the previously issued La Quinta
Redevelopment Project Area No. 1 Tax Allocation Bonds, Series 2002 (the "2002 Bonds")
and the Agency's La Quinta Redevelopment Project Area No. 1 Tax Allocation Bonds,
Taxable Series 2003 (the "2003 Bonds") (collectively the "Bonds").
The City of La Quinta, (the "City") which comprises approximately 34.8 square miles, is
located in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los
Angeles.
Redevelopment Project Area No. 1, (the "Project Area No. 1") encompasses an area of
approximately 11,200 acres, which includes approximately 50.3% of the current area of the
City. The objective of the Agency is to eliminate or reduce the many, instances of
economic, physical or social blight presently existing within the boundaries of the
Redevelopment Projects.
The 2001 Bonds are special obligations of the Agency and are secured by a pledge of
Pledged Tax Revenues, as defined in the Official Statement. The 2001 Bonds are not a
debt of the City, the State of California, or any of its political subdivisions and neither the
City, the State of California, nor any of its political subdivisions is liable. The 2001 Bonds do
not constitute indebtedness within the meaning of any constitutional or statutory debt limit
or restriction.
This Annual Information Statement is being provided pursuant to a covenant made by the
Agency for the benefit of the holders of the 2001 Bonds and includes the information
specified in a Continuing Disclosure Certificate. For further information and a more
complete description of the Agency and the 2001 Bonds, reference is made to the Official
Statement.
The information set forth herein has been furnished by the Agency and by sources, which
are believed to be accurate and reliable but is not guaranteed as to accuracy or
completeness. Statements contained in this Annual Information Statement which involve
estimates, forecasts, or other matters of opinion, whether or not expressly so described
herein, are intended solely as such and are not to be construed as representations of fact.
Further, the information and expressions of opinion contained herein are subject to change
without notice and the delivery of this Annual Information Statement will not, under any
circumstances, create any implication that there has been no change in the affairs of the
Agency or any other parties described herein.
2002103, 2001 TAB
City of La Quinta
N13
17
ll. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
Bonds As of November 12, 2004
Tax Allocation Bonds, Series 2001 $48,000,000
B. FUND BALANCES
Fund As of November 12, 2004
Reserve Fund N/A
(1) The Reserve Fund is funded by a Reserve Account Surety Bond.
Ill. FINANCIAL INFORMATION
The audited financial statements for the Agency for the fiscal year ended June 30, 2004
will be separately filed with the Nationally Recognized Municipal Securities Information
Repositories and are hereby incorporated by reference into this Annual Information
Statement.
IV. OPERATING INFORMATION
A. ASSESSED VALUATIONS
The following table set forth the Taxable Values and the Gross Tax
Increment for the Project Area No. 1.
Protect Area No. 1
Fiscal
Year
Secured
Value
Unsecured
Value
Utility
Value
Total Taxable
Value
Taxable Value
Above Base (')
Gross Tax
Increment
1996/97
$1,297,020,107
$13,821,291
$0
$1,310,841,398
$1,111,443,165
$11,344,856
1 §97/98
1,383,340,327
13,157,051
0
1,396,497,378
1,197,099,145
12,161,894
1998/99
1,436,942,643
8,594,039
0
1,445,536,682
1,246,138,449
12,877,280
1999/00
1,627,578,717
8,034,814
0
1,635,613,531
1,436,215,298
15,659,371
2000/01
1,927,812,440
14,948,366
0
1,942,760,806
1,743,362,573
18,685,564
2001/02
2,287,724,601
14,486,563
0
2,302,211,164
2,102,812,931
20,929,840
2002/03
2,688,732,575
13,980,069
0
2,702,712,644
2,503,314,411
26,357,623
2003/04
3,062,917,787
13,537,804
0
3,076,455,591
2,877,057,358
29,958,693
2004/05
3,411,082,100
13,813,852
0
3,424,895,952
3,225,497,719
Not Available
(1) The Base Value for the Project Area No. 1 is $199,398,233.
Source: Riverside
County and Audited Financial Statements of the La Quinta Redevelopment.
2003104, 2001 TAB City of La Quinta 1, `
18
B. LAND USE
PROJECT AREA NO.1
Land Use
2003/04 Total
Secured Value
Percent
of Total
Residential
$2,670,014,127
84.39%
Vacant
335,399,838
10.60%
Commercial �'�
118,804,680
3.76%
Recreational
37,757,250
1.19%
Institutional (2)
1,143,792
0.04% .
Miscellaneous/Unknown
696,704
0.02%
Total Protect Area No.1
$3,163,816,391
100.00%
(1) Includes agriculture and office building uses.
(2) Includes government buildings, medical services, and churches.
Source: Rosenow Spevacek Group, Inc.
A. PLEDGED TAX REVENUES AND DEBT SERVICE COVERAGE
The following table sets forth the amount of Gross Tax. Increment and the
combined Debt Service Coverage for the Bonds.
Less
Maximum
Less:
Less:
Subordinated
Maximum
Annual Debt
Fiscal
Gross Tax
Nonsubordinated
Housing
Pledged
Pass
Net
Annual Debt
(3)
Service
Year
increment
Pass Throughsill
Set Aside
Revenues
Throughs(2)
Revenues
Service
Coverage
2001/02
$20,929,840
$1,168,978
$4,488,487
$15,272,375
$7,025,471
$8,246,904
$3,697,867
2.23
1.43
2002/03
26,357,623
1,378,611
5,271,524
19,707,488
8,371,098
11,336,390
7,887,76814)
2003/04
29,958,693
1,355,988
5,991,739
22,610,966
8,603,713
14,007,253
9,890,703
1.41
(1) The Agency has entered into an agreement with the Coachella Valley Mosquito Abatement District, the Coachella Valley Water
District, and the Coachella Valley Unified School District to pass through Tax Increment on a nonsubordinated basis. Please
note, although the Coachella Valley Unified School District pass -through is presented as non -subordinated, it is non -
subordinate only to debt service on the 2002 Bonds and is subordinate to all other debt service.
(2) The Agency's subordinated pass-throughs include the County of Riverside, the Desert Sands Unified School District, and the
Desert Community College District.
(3) The combined Maximum Annual Debt Service on the 2003 Bonds, 2002 Bonds, 2001 Bonds, the 1998 Bonds and the 1994
Bonds is payable in the year 2032 in the amount of $9,890,703. A portion of the Housing Set Asides is pledged towards the
payment of 18.5% of the debt service on the 1994 Bonds.
(4) Annual Debt Service on the 2003 Bonds begins in fiscal year 2003104.
Source: Audited Financial Statements of the La Quinta Redevelopment Agency and the Statement of Indebtedness filed with the
Riverside County Auditor -Controller's Office.
2003 04, 2001 TAB City of La Quinta
W
B. ANNUAL DEBT SERVICE
The following table sets forth the annual debt service for the 1994 Bonds, the
1998 Bonds, 2001 Bonds, 2002 Bonds and the 2003 Bonds. Information
contained in the table below was gathered and verified from the corresponding
Official Statements.
Maturity Date
1994
1998
2001
2002
2003
Combined
September 1,
Bonds
Bonds
Bonds
Bonds
Bonds
Debt Service
2005
$2,162,044
$819,520
$2,430,720
$2,474,381
$1,999,190
$9,885,855
2006
2,161,857
819,520
2,430,720
2,475,341
1,997,018
9,884,456
2007
2,163,275
819,520
2,430,720
2,473,841
1,999,210
9,886,566
2008
2,161,629
819,520
2,430,720
2,475,391
2,000,554
9,887,814
2009
2,160,695
819,520
2,430,720
2,479,436
1,996,050
9,886,421
2010
2,159,880
819,520
2,430,720
2,475,676
2,000,163
9,885,959
2011
2,162,664
819,520
2,430,720
2,475,176
1,997,640(
9,885,720
2012
2,160,003
819,520
2,430,720
2,477,681
1,998,755
9,886,679
2013
0
1,474,520
3,995,720
2,418,281
1,998,235
9,886,756
2014
0
1,475,460
3,997,470
2,413,031
1,996,080
9,882,041
2015
0
1,474,580
4,000,220
2,411,281
1,997,392
9,883,473
2016
0
1,476,880
3,998,720
2,412,781
1,996,208
9,884,589
2017
0
1,472,100
3,997,970
2,417,281
1,997,528
9,884,879
2018
0
1,475,500
3,997,720
2,414,531
1,996,040
9,883,791
2019
0
1,476,560
3,997,720
2,414,781
1,996,744
9,885,805
2020
0
1,475,280
3,997,720
2,412,781
1,999,328
9,885,109
2021
0
1,476,660
3,997,470
2,413,531
1,998,480
9,886,141
'2022
0
1,475,440
3,996,720
2,416,781
1,999,200
9,888,141
2023
0
1,476,620
3,997,790
2,412,281
2,001,176
9,887,867
2024
0
1,474,940
3,997,485
2,413,856
1,999,096
9,885,377
2025
0
1,475,400
3,995,550
2,417,356
2,000,680
9,888,986
2026
0
1,472,740
3,996,730
2,417,525
1,997,434
9,884,429
2027
0
1,471,960
4,000,515
2,414,363
1,999,358
9,886,196
2028
0
1,472,800
3,996,395
2,417,869
2,000,808
9,887,872
2029
0
0
3,999,370
3,887,531
1,996,462
9,883,363
2030
0
0
3,998,675
3,888,013
1,996,320
9,883,008
2031
0
0
3,999,055
3,890,550
1,999,738
9,889,343
2032
0
0
0
7,889,631
2,001,072
9,890,703
Total
$17,292,047
$30,163,600
$95,404,775
$78,000,958
$55,9651959
$276,8071339
2003104, 2001 TAB City of La Quinta
LA QUINTA REDEVELOPMENT AGENCY
$40,000,000 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 1 TAX ALLOCATION BONDS
SERIES 2002
Riverside County, California
Dated: June 1, 2002
CUSIP: 504194
2004 ANNUAL CONTINUING DISCLOSURE
INFORMATION STATEMENT
As of December 12004
Also available at:
MuniFinancial
www.muni.com 120
21
LIST OF PARTICIPANTS
CITY:OF LA QUINTA
John Falconer
Finance Director
P.O. Box 1504
78-495 Calle Tampico
La Quinta, California 92247
(760) 777-7150
DISCLOSURE CONSULTANT 8 DISSEMIMATiON AGENT J
MuniFinancial*
Temecula, CA 92590
(951) 587-3500
Report available for viewin4 Cc�
www.muni.com
Rutan & Tucker LLP
Costa Mesa, California
TRUSTEE
Brad Scarbrough
U.S. Bank Trust, N.A.
633 West 5t' Street, 24t' Floor
Los Angeles, California 90071
(213) 613-6047
* In its role as Disclosure Consultant and Dissemination Agent, MuniFinancial has not passed upon the accuracy,
completeness or fairness of the statements contained herein.
4�~
22
L INTRODUCTION
Pursuant to an Official Statement dated June 12, 2002, the La Quinta Redevelopment
Agency (the "Agency") issued $40,000,000 La Quinta Redevelopment Project Area No. 1
Tax Allocation Bonds, Series 2002, (the "2002 Bonds"). The 2002 Bonds are being issued
to finance redevelopment projects benefiting the La Quinta Redevelopment Project Area
No. 1. The 2002 Bonds are payable on a parity with the Agency's previously issued La
Quinta Redevelopment Project, Tax Allocation Refunding Bonds, Series 1994 (the "1994
Bonds"), the previously issued La Quinta Redevelopment Project Area No. 1 Tax Allocation
Bonds, Series 1998 (the "1998 Bonds"), the Agency's previously issued La Quinta
Redevelopment Project Area No. 1 Tax Allocation Bonds, Series 2001 (the "2001 Bonds")
and the Agency's La Quinta Redevelopment Project Area No. 1 Tax Allocation Bonds,
Taxable Series 2003 (the "2003 Bonds") (collectively the "Bonds").
The City of La Quinta, (the "City") which comprises approximately 34.8 square miles, is
located in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los
Angeles.
Redevelopment Project Area No. 1, (the "Project Area No. 1") encompasses an area of
approximately 11,200 acres, which includes approximately 50.3% of the current area of the
City. The objective of the Agency is to eliminate or reduce the many instances of
economic, physical or social blight presently existing within the boundaries of the
Redevelopment Projects.
The 2002 Bonds are special obligations of the Agency and are secured by a pledge of
Pledged Tax Revenues, as defined in the Official Statement. The 2002 Bonds are not a
debt of the City, the State of California, or any of its political subdivisions and neither the
City, the State of California, nor any of its political subdivisions is liable. The 2002 Bonds do
not constitute indebtedness within the meaning of any constitutional or statutory debt limit
or restriction.
This Annual Information Statement is being provided pursuant to a covenant made by the
Agency for the benefit of the holders of the 2002 Bonds and includes the information
specified in a Continuing Disclosure Certificate. For further information and a more
complete description of the Agency and the 2002 Bonds, reference is made to the Official
Statement.
The information set forth herein has been furnished by the Agency and by sources, which
are believed to be accurate and reliable but is not guaranteed as to accuracy or
completeness. Statements contained in this Annual Information Statement which involve
estimates, forecasts, or other matters of opinion, whether or not expressly so described
herein, are intended solely as such and are not to be construed as representations of fact.
Further, the information and expressions of opinion contained herein are subject to change
without notice and the delivery of this Annual Information Statement will not, under any
circumstances, create any implication that there has been no change in the affairs of the
Agency or any other parties described herein.
2003/04 2002 TAB City of La Quinta
23
II. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
Bonds As of November 12, 2004
Tax Allocation Refunding Bonds, Series 2002 $38,860,000
B. FUND BALANCES
Fund As of November 12, 200
Reserve Fund �'� N/A
(1) The Reserve Fund is funded by a Reserve Account Surety Bond.
Ill. FINANCIAL INFORMATION
The audited financial statements for the Agency for the fiscal year ended June 30, 2004
will be separately filed with the Nationally Recognized Municipal Securities Information
Repositories and are hereby incorporated by reference into this Annual Information
Statement.
IV. OPERATING INFORMATION
A. ASSESSED VALUATIONS
The following table set forth the Taxable Values and the Gross Tax
Increment for the Project Area No. 1.
Protect Area No. 1
Fiscal
Year
Secured
Value
Unsecured
Value
Utility
Value
Total Taxable
Value
Taxable Value
Above Base (1)
Gross Tax
Increment
1996/97
$1,297,020,107
$13,821,291
$0
$1,310,841,398
$1,111,443,165
$11,344,856
1997/98
1,383,340,327
13,157,051
0
1,396,497,378
1,197,099,145
12,161,894
1998/99
1,436,942,643
8,594,039
0
1,445,536,682
1,246,138,449
12,877,280
1999/00
1,627,578,717
8,034,814
0
1,635,613,531
1,436,215,298
15,659,371
2000/01
1,927,812,440
14,948,366
0
1,942,760,806
1,743,362,573
18,685,564
2001/02
2,287,724,601
14,486,563
0
2,302,211,164
2,102,812,931
20,929,840
2002/03
2,688,732,575
13,980,069
0
2,702,712,644
2,503,314,411
26,357,623
2003/04
3,062,917,787
13,537,804
0
3,076,455,591
2,877,057,358
29,958,693
2004/05
3,411,082,100
13,813,852
0
3,424,895,952
3,225,497,719
Not Available
(1) The
Base Value for the Project Area No. 1 is $199,398,233.
Source:
Riverside County and Audited Financial Statements of the La Quinta Redevelopment Agency.
C1�
2003104, 2002 TAB City of La Quinta
24
B. LAND USE
PROJECT AREA NO.1
Land Use
2003/04 Total
Secured Value
Percent
of Total
Residential
$2,670,014,127
84.39%
Vacant
335,399,838
10.60%
Commercial
118,804,680
3.76%
Recreational
37,757,250
1.19%
Institutional (2)
1,143,792
0.04%
Miscellaneous/Unknown
696,704
0.02%
Total Prolect Area No.1
$3,163,816,391
100.00%
(1) Includes agriculture and office building uses.
(2) Includes government buildings, medical services, and churches.
Source: Rosenow Spevacek Group, Inc.
C. PLEDGED TAX REVENUES AND DEBT SERVICE COVERAGE
The following table sets forth the amount of Gross Tax Increment and the
combined Debt Service Coverage for the Bonds.
Less
Maximum
Less:
Less:
Subordinated
Maximum
Annual Debt
Fiscal
Gross Tax
Nonsubordinated
. Housing
Pledged
Pass
Net
Annual Debt
(3)
Service
Year
Increment
Pass Throughsl!l
Set Aside
Revenues
Throughs(2)
Revenues
Service
Coverage
2001/02
$20,929,840
$1,168,978
$4,488,487
$15,272,375
$7,025,471
$8,246,904
$3,697867
2.23
2002/03
26,357,623
1,378,611
5,271,524
19,707,488
8,371,098
11,336,390
7,887:768(4)
1.43
2003/04
29,958,693
1,355,988
5,991,739
22,610,966
8,603,713
14,007,253
9,890,703
1.4.1
(1) The Agency has entered into an agreement with the Coachella Valley Mosquito Abatement District, the Coachella Valley Water
District, and the Coachella Valley Unified School District to pass through Tax Increment on a nonsubordinated basis. Please
note, although the Coachella Valley Unified School District pass -through is presented as non -subordinated, it is non -
subordinate only to debt service on the 2002 Bonds and is subordinate to all other debt service.
(2) The Agency's subordinated pass-throughs include the County of Riverside, the Desert Sands Unified School District, and the
Desert Community College District.
(3) The combined Maximum Annual Debt Service on the 2003 Bonds, 2002 Bonds, 2001 Bonds, the 1998 Bonds and the 1994
Bonds is payable in the year 2032 in the amount of $9,890,703. A portion of the Housing Set Asides is pledged towards the
payment of 18.5% of the debt service on the 1994 Bonds.
(4) Annual Debt Service on the 2003 Bonds begins in fiscal year 2003104.
Source: Audited Financial Statements of the La Quinta Redevelopment Agency and the Statement of Indebtedness filed with the
Riverside County Auditor -Controller's Office.
2003104, 2002 TAB
City of La Quinta
�4
25
A. ANNUAL DEBT SERVICE
The following table sets forth the annual debt service for the 1994 Bonds, the
1998 Bonds, 2001 Bonds, 2002 Bonds and the 2003 Bonds. Information
contained in the table below was gathered and verified from the corresponding
Official Statements.
Maturity Date
1994
1998
2001
2002
2003
Combined
September 1
Bonds
Bonds
Bonds
Bonds
Bonds
Debt Service
2005
$2,162,044
$819,520
$2,430,720
$2,474,381
$1,999,190
$9,885,855
2006
2,161,857
819,520
2,430,720
2,475,341
1,997,018
9,884,456
2007
2,163,275
819,520
2,430,720
2,473,841
1,999,210
9,886,566
2008
2,161,629
819,520
2,430,720
2,475,391
2,000,554
9,887,814
2009
2,160,695
819,520
2,430,720
2,479,436
1,996,050
9,886,421
2010
2,159,880
819,520
2,430,720
2,475,676
2,000,163
9,885,959
2011
2,162,664
819,520
2,430,720
2,475,176
1,997,640
9,885,720
2012
2,160,003
819,520
2,430,720
2,477,681
1,998,755
9,886,679
2013
0
1,474,520
3,995,720
2,418,281
1,998,235
9,886,756
2014
0
1,475,460
3,997,470
2,413,031
1,996,080
9,882,041
2015
0
1,474,580
4,000,220
2,411,281
1,997,392
9,883,473
2016
0
1,476,880
3,998,720
2,412,781
1,996,208
9,884,589
2017
0
1,472,100
3,997,970
2,417,281
1,997,528
9,884,879
2018
0
1,475,500
3,997,720
2,414,531
1,996,040
9,883,791
2019
0
1,476,560
3,997,720
2,414,781
1,996,744
9,885,805
2020
0
1,475,280
3,997,720
2,412,781
1,999,328
9,885,109
2021
0
1,476,660
3,997,470
2,413,531
1,998,480
9,886,141
2022
0
1,475,440
3,996,720
2,416,781
1,999,200
9,888,141
2023
0
1,476,620
3,997,790
2,412,281
2,001,176
9,887,867
2024
0
1,474,940
3,997,485
2,413,856
1,999,096
9,885,377
2025
0
1,475,400
3,995,550
2,417,356
2,000,680
9,888,986
2026
0
1,472,740
3,996,730
2,417,525
1,997,434
9,884,429
2027
0
1,471,960
4,000,515
2,414,363
1,999,358
9,886,196
2028
0
1,472,800
3,996,395
2,417,869
2,000,808
9,887,872
2029
0
0
3,999,370
3,887,531
1,996,462
9,883,363
2030
0
0
3,998,675
3,888,013
1,996,320
9,883,008
2031
0
0
3,999,055
3,890,550
1,999,738
9,889,343
2032
0
0
0
7,889 631
2,001,072
9,890,703
Total
$17,292,047
$30,163,600
$95,404,776
$78,000,958
$55,955,959
$276,807,339
2003104, 2002 TAB City of La Quinta
Y♦�0<:5
26
LA QUINTA REDEVELOPMENT AGENCY
$48,000,000 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 1 TAX ALLOCATION BONDS
TAXABLE SERIES 2003
Riverside County, California
Dated: September 1, 2003
CUSIP: 504194
2004 ANNUAL CONTINUING DISCLOSURE
INFORMATION STATEMENT
As of December _, 2004
Also available at:
MluniFinancial c oco
www.muni.com '�,
27
LIST OF PARTICIPANTS
CITY OF LA QUINTA
wwa Mg4antow0
John Falconer
Finance Director
P.O. Box 1504
78-495 Calle Tampico
La Quinta, California 92247
(760) 777-7150
* In its role as Disclosure Consultant and Dissemination Agent, MuniFinancial has not passed upon the accuracy,
completeness or fairness of the statements contained herein.
28
L INTRODUCTION
Pursuant to an Official Statement dated September 10, 2003, the La Quinta
Redevelopment Agency (the "Agency") issued $26,400,000 La Quinta Redevelopment
Project Area No. 1 Tax Allocation Bonds, Taxable Series 2003, (the "2003 Bonds"). The
2003 Bonds are being issued to finance redevelopment projects benefiting the La Quinta
Redevelopment Project Area No. 1. The 2003 Bonds are payable on a parity with the
Agency's previously issued La Quinta Redevelopment Project, Tax Allocation Refunding
Bonds, Series 1994 (the "1994 Bonds"), the previously issued La Quinta Redevelopment
Project Area No. 1 Tax Allocation Bonds, Series 1998 (the "1998 Bonds"), the previously
issued La Quinta Redevelopment Project Area No. 1 Tax Allocation Bonds, Series 2001
(the "2001 Bonds") and the Agency's previously issued La Quinta Redevelopment Project
Area No. 1 Tax Allocation Bonds, Series 2002 (the "2002 Bonds") (collectively the "Bonds").
The City of La Quinta, (the "City") which comprises approximately 34.8 square miles, is
located in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los
Angeles.
Redevelopment Project Area No. 1, (the "Project Area No. 1") encompasses an area of
approximately 11,200 acres, which includes approximately 50.3% of the current area of the
City. The objective of the Agency is to eliminate or reduce the many instances of
economic, physical or social blight presently existing within the boundaries of the
Redevelopment Projects.
The 2003 Bonds are special obligations of the Agency and are secured by a pledge of
Pledged Tax Revenues, as defined in the Official Statement. The 2003 Bonds are not a
debt of the City, the State of California, or any of its political subdivisions and neither the
City, the State of California, nor any of its political subdivisions is liable. The 2003 Bonds do
not constitute indebtedness within the meaning of any constitutional or statutory debt limit
or restriction.
This Annual Information Statement is being provided pursuant to a covenant made by the
Agency for the benefit of the holders of the 2003 Bonds and includes the information
specified in a Continuing Disclosure Certificate. For further information and a more
complete description of the Agency and the 2003 Bonds, reference is made to the Official
Statement.
The information set forth herein has been furnished by the Agency and by sources, which
are believed to be accurate and reliable but is not guaranteed as to accuracy or
completeness. Statements contained in this Annual Information Statement which involve
estimates, forecasts, or other matters of opinion, whether or not expressly so described
herein, are intended solely as such and are not to be construed as representations of fact.
Further, the information and expressions of opinion contained herein are subject to change
without notice and the delivery of this Annual Information Statement will not, under any
circumstances, create any implication that there has been no change in the affairs of the
Agency or any other parties described herein.
2003104, 2003 TAB
City of La Quinta
29
It. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
Bonds As of November 1, 2004
Tax Allocation Bonds, Taxable Series 2003 $26,010,000
B. FUND BALANCES
Fund As of November 12, 2004
Reserve Fund N/A
(1) The Reserve fund is funded by a Reserve Account Surety Bond.
Ill. FINANCIAL INFORMATION
The audited financial statements for the Agency for the fiscal year ended June 30, 2004
will be separately filed with the Nationally Recognized Municipal Securities Information
Repositories and are hereby incorporated by reference into this Annual Information
Statement.
V. OPERATING INFORMATION
A. ASSESSED VALUATIONS
The following table set forth the Taxable Values and the Gross Tax
Increment for the Project Area No. 1.
Prolect Area No.1
Fiscal
Secured
Unsecured
Utility
Total Taxable
Taxable Value
(')
Gross Tax
Increment
Year
Value
Value
Value
Value
Above Base
1996/97
$1,297,020,107
$13,821,291
$0
$1,310,841,398
$1,111,443,165
$11,344,856
1997/98
1,383,340, 327
13,157,051
0
1,396,497,378
1,197,099,145
12,161,894
1998/99
1,436,942,643
8,594,039
0
1,445,536,682
1,246,138,449
12,877,280
1999/00
1,627,578,717
8,034,814
0
1,635,613,531
1,436,215,298
15,659,371
2000/01
1,927,812,440
14,948,366
0
1,942,760,806
1,743,362,573
18,685,564
2001/02
2,287,724,601
14,486,563
0
2,302,211,164
2,102,812,931
20,929,840
2002/03
2,688,732,575
13,980,069
0
2,702,712,644
2,503,314,411
26,357,623
2003/04
3,062,917,787
13,537,804
0
3,076,455,591
2,877,057,358
29,958,693
2004/05
3,411,082,100
13,813,852
0
3,424,895,952
3,225,497,719
Not Available
(1) The Base Value for the Project Area No. 1 Is $199,398,233.
Source: Riverside County and Audited Financial Statements of the La Quinta Redevelopment Agency.
2003104, 2003 TAB City of La Quinta
KX
B. LAND USE
PROJECT AREA NO.1
Land Use
2003104 Total
Secured Value
Percent
of Total
Residential
$2,670,014,127
84.39%
Vacant
335,399,838
10.60%
Commensal
118,804,680
3.76%
Recreational
37,757,250
1.19%
Institutional (2)
1,143,792
0.04%
Miscellaneous/Unknown
696,704
0.02%
Total Protect Area No.1
$3,163,816,391
100.00%
(1) Includes agriculture and office building uses.
(2) Includes government buildings, medical services, and churches.
Source: Rosenow Spevacek Group, Inc.
C. PLEDGED TAX REVENUES AND DEBT SERVICE COVERAGE
The following table sets forth the amount of Gross Tax Increment and the
combined Debt Service Coverage for the Bonds.
Less
Maximum
Less:
Less:
Subordinated
Maximum
Annual Debt
Fiscal
Gross Tax
Nonsubordinated
Housing
Pledged
Pass
Net
Annual Debt
(3)
Service
Year
Increment
Pass Throughsl'i
Set Aside
Revenues
Throughs(2)
Revenues
Service
Coverage
_
2001102
$20,929,840
$1,168,978
$4,488,487
$1.5,272,375
$7,025,471
$8,246,904
$3,697867
2.23
2002/03
26,357,623
1,378,611
5,271,524
19,707,488
8,371,098
11,336,390
7,887:768(4)
1.43
2003/04
29,958,693
1,355,988
5,991,739
22,610,966
8,603,713
14,007,253
9,890,703
1.41
(1) The Agency has entered into an agreement with the Coachella Valley Mosquito Abatement District, the Coachella Valley Water
District, and the Coachella Valley Unified School District to pass through Tax Increment on a nonsubordinated basis. Please
note, although the Coachella Valley Unified School District pass -through is presented as non -subordinated, it is non -
subordinate only to debt service on the 2002 Bonds and is subordinate to all other debt service.
(2) The Agency's subordinated pass-throughs include the County of Riverside, the Desert Sands Unified School District, and the
Desert Community College District.
(3) The combined Maximum Annual Debt Service on the 2002 Bonds, 2001 Bonds, the 1998 Bonds and the 1994 Bonds is
payable in the year 2009 in the amount of $7,890,371. The combined Maximum Annual Debt Service on the 2003 Bonds, 2002
Bonds, 2001 Bonds, the 1998 Bonds and the 1994 Bonds is payable in the year 2032 in the amount of $9,890,703. A portion
of the Housing Set Asides is pledged towards the payment of 18.5% of the debt service on the 1994 Bonds.
(4) Annual Debt Service on the 2003 Bonds begins in fiscal year 2003/04.
Source: Audited Financial Statements of the La Quinta Redevelopment Agency and the Statement of Indebtedness filed with the
Riverside County Auditor -Controller's Office.
2003104, 2003 TAB
City of La Quinta
31
D. ANNUAL DEBT SERVICE
The following table sets forth the annual debt service for the 1994 Bonds, the
1998 Bonds, 2001 Bonds, 2002 Bonds and the 2003 Bonds. Information
contained in the table below was gathered and verified from the corresponding
Official Statements.
Maturity Date
1994
1998
2001
2002
2003
Combined
September 1,
Bonds
Bonds
Bonds
Bonds
Bonds
Debt Service
2005
$2,162,044
$819,520
$2,430,720
$2,474,381
$1,999,190
$9,885,855
2006
2,161,857
819,520
2,430,720
2,475,341
1,997,018
9,884,456
2007
2,163,275
819,520
2,430,720
2,473,841
1,999,210
9,886,566
2008
2,161,629
819,520
2,430,720
2,475,391
2,000,554
9,887,814
2009
2,160,695
819,520
2,430,720
2,479,436
1,996,050
9,886,421
2010
2,159,880
819,520
2,430,720
2,475,676
2,000,163
9,885,959
2011
2,162,664
819,520
2,430,720
2,475,176
1,997,640
9,885,720
2012
2,160,003
819,520
2,430,720
2,477,681
1,998,755
9,886,679
2013
0
1,474,520
3,995,720
2,418,281
1,998,235
9,886,756
2014
0
1,475,460
3,997,470
2,413,031
1,996,080
9,882,041
2015
0
1,474,580
4,000,220
2,411,281
1,997,392
9,883,473
2016
0
1,476,880
3,998,720
2,412,781
1,996,208
9,884,589
2017
0
1,472,100
3,997,970
2,417,281
1,997,528
9,884,879
2018
0
1,475,500
3,997,720
2,414,531
1,996,040
9,883,791
2019
0
1,476,560 _
3,997,720
2,414,781
1,996,744
9,885,805
2020
0
1,475,280
3,997,720
2,412,781
1,999,328
9,885,109
2021
0
1,476,660
3,997,470
2,413,531
1,998,480
9,886,141
2022
0
1,475,440
3,996,720
2,416,781
1,999,200
9,888,141
2023
0
1,476,620
3,997,790
2,412,281
2,001,176
9,887,867
2024
0
1,474,940
3,997,485
2,413,856
1,999,096
9,885,377
2025
0
1,475,400
3,995,550
2,417,356
2,000,680
9,888,986
2026
0
1,472,740
3,996,730
2,417,525
1,997,434
9,884,429
2027
0
1,471,960
4,000,515
2,414,363
1,999,358
9,886,196
2028
0
1,472,800
3,996,395
2,417,869
2,000,808
9,887,872
2029
0
0
3,999,370
3,8871531
1,996,462
9,883,363
2030
0
0
3,998,675
3,888,013
1,996,320
9,883,008
2031
0
0
3,999,055
3,890,550
1,999,738
9,889,343
2032
0
0
0
7,889,631
2,001,072
9,890,703
Total
$17,292,047
$30,153,600
$95,404,775
$7810002958
$56,955,959
$276,807,339
2003104, 2003 TAB City of La Quinta
32
T4ht 4 .1PQ�rw
COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE: Approval to Award a Contract for the
SilverRock Resort Irrigation Well, Project No. 2002-07J
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Award a contract to Palm Springs Pump, Inc. in the amount of $355,753 to
construct the SilverRock Resort Irrigation Well, Project No. 2002-07J, and
authorize the use of $183,553 from project contingencies to complete this work.
F[SCAL IMPLICATIONS:
The Capital Improvement Program (CIP) 2003/2004 budget included funds for
construction , of the SilverRock Resort project. The October 7, 2003 budget
identified $200,000 for the construction of the back up irrigation well for the
project. This estimate did not include installing the water line from the well site to
the entry lakes as currently designed.
On August 3, 2004, the Agency approved the Plans, Specifications, and Engineer's
Estimate (PS&E) for the SilverRock Resort Irrigation Well with an engineer's
estimate as follows:
Construction: $419,400
Inspection and Testing: $ 10,000
Administration: $ 5,000
Contingency: $ 42,000
Total: $476,400
At time of approval of the PS&E for this project, staff indicated that a budget
appropriation might be necessary at the time of award of contract to cover the
difference in costs between the winning bid and the original construction cost
estimate.
132
S:\CityMgr\STAFF REPORTS ONLY\12-21-04\C15 Proj 2002-07J.doc
Since this project will be constructed with Agency funds, the contractor will be
required to pay prevailing wages. Construction management and contract
administration of this project will be performed by City forces as this work is not
included within Heinbuch Golf's construction management contract. Construction
inspection will be provided by the Public Works Construction Division. Testing will
be performed by a testing firm to be selected at a later date.
Based on the actual construction award amount, staff recommends approval of the
following project budget:
Construction: $355,753
Inspection and Testing: $ 10,000
Contingency: $ 17,800
Total: $383,553
Therefore, a budget shortfall of $183,533 exists for this project, which is available
from project contingencies.
BACKGROUND AND OVERVIEW:
The City Council approved the Fiscal Year 2003/2004 CIP on May 20, 2003. This
year's CIP includes the construction of the SilverRock Resort Phase I
Improvements. This included construction and development of a high production
irrigation well as backup in the event that canal water is not available to irrigate the
golf resort in the future. A backup irrigation well is required by the Coachella
Valley Water District for all new golf course construction.
On August 3, 2004, the Agency authorized advertisement of the bids for this
contract. The bid opening date was subsequently delayed by staff in order to
provide clarification to the bidders through plan revisions.
On October 5, 2004, the Agency approved a contract change order in the amount
of $148,000 to Weitz Golf to construct the 14-inch, 3800 foot waterline portion of
the irrigation well project in conjunction with Golf. Course No. 1.
On December 10, 2004, four sealed competitive bids were opened for this project.
The City received four responsive bids.. The apparent low bidder was Palm Springs
Pump, Inc. of Indio, who submitted a bid to construct the project for $355,753.
The lowest bid is $1 19,233 over the revised engineer's estimate. However, the
original engineer's estimate did not include dust control, a masonry wall and gates
around the well site, electrical service to the well, and a one-year operation and
maintenance contract for the well. Staff extended the bid period in order for these
items to be included in the bids. Included as Attachment 1 is a bid summary which
is a comparison of all bidders and their respective bid amounts.
2 133
S:\CityMgr\STAFF REPORTS ONLY\12-21-04\C15 Proj 2002-07J.doc
Based upon the project contract time of 90 consecutive calendar days in which to
complete the work and contingent upon Agency approval of the award, the
proposed project schedule is:
Construction Award December 22, 2004
Construction Period January 2005 through April 2005
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency include:
1 . Award a 'contract to Palm Springs Pump, Inc. in the amount of $355,753 to
construct the SilverRock Resort Irrigation Well, Project No. 2002-07J and
authorize the use of $183, 533 from project contingencies; or
2. Do not award a contract to Palm Springs Pump, Inc., to construct the
SilverRock Resort Irrigation Well, Project No. 2002-07J and do not authorize
the use of $183,533 from project contingencies; or
3. Provide staff with alternative direction.
Respectfully submitted,
w
imothy on son, P.E.
Public Wos Director/City Engineer
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachment: 1. Bid Summary
134
3
S:\CityMgr\STAFF REPORTS ONLY\12-21-04\C15 Proj 2002-07J.doc
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COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE: Approval of a Contract Amendment with
The Keith Companies for Survey Support of Perimeter
Improvements for SilverRock Resort
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve Amendment No. 4 to the Professional Services Agreement with The Keith
Companies in an amount not -to -exceed $42,900 to provide perimeter landscape survey
and staking services and for survey work to provide a new easement to the Bureau of
Reclamations (BOR) for the SilverRock Resort project, and authorize the Executive
Director to execute the amendment.
FISCAL IMPLICATIONS:
The City's Capital Improvement Program 2004/2005 budget includes $4,959,200 for
professional services for the SilverRock Resort project. An additional $829,638 has
previously been transferred from the project contingency to cover grow -in services and
other contract amendments, for a total professional services budget of $5,788,838. A
total of $5,044,245 has been awarded to date, and $640,000 is reserved for Phase 2
permanent clubhouse design, for a total of $5,684,245, leaving a balance of
$104,593. Staff is currently under negotiations with Pinnacle Design for a portion of
this amendment work (approximately $27,000), as it was originally part of their civil
engineer's scope of work. Pinnacle's civil engineer was unable to meet the project
schedule for the perimeter improvements and was therefore removed from the project.
If we receive this credit from Pinnacle, then $15,900 ($42,900-$27,000) would need
to be appropriated. Regardless, there are adequate funds in this account for this
contract amendment.
136
BACKGROUND AND OVERVIEW:
On September 16, 2003, the Agency approved a Professional Services Agreement
with the Keith Companies (TKC) to provide Civil Engineering Services for the
SilverRock Resort project. On March 2, 2004, the Agency approved an amendment in
the amount.of $30,000 for additional survey work not included in TKC's original scope
of work. On May 18, 2004, the Agency approved a second amendment in the amount
of $178,079 to provide construction staking and water/sewer design. On August 17,
2004, the Agency approved a third amendment in the amount of $15,000 for
additional electrical engineering services partly for changes requested by the Hope
Classic tournament.
Amendment No. 4 (Attachment 1), in the amount of $42,900, is for survey and
staking related to perimeter landscaping improvements as well as survey work
necessary to provide a new easement to the BOR for their relocated vault and
waterline that provides water from the All American Canal to Village Lake No. 3. This
work is necessary to ensure the correct location for grading, placement of berms and
utilities, etc.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency Board include:
1. Approve Amendment No. 4 to the Professional Services Agreement with The
Keith Companies in an amount not -to -exceed $42,900 to provide perimeter
landscape survey and staking services and for survey work to provide a new
easement to the Bureau of Reclamations (BOR) for the SilverRock Resort
project, and authorize the Executive Director to execute the amendment; or
2. Do not approve Amendment No. 4 to the Professional Services Agreement with
The Keith Companies in an amount not -to -exceed $42,900 to provide offsite
landscape survey and staking services and for survey work to provide a new
easement to the Bureau of Reclamations (BOR) for the SilverRock Resort
project, and do not authorize the Executive Director to execute the amendment;
or
3. Provide staff with alternative direction.
Respectfully submitted,
-.00 --� %%9 AJ
reYZ0-'7W--'-' /--0'0 �
/0' 4
Mark Weiss, Assistant Executive Director
2
137
Approved for submission by:
Oz2
Thomas P. Genovese, Executive Director
Attachment: 1. TKC Contract Amendment No. 4
3
138
ATTACHMENT 1
PROJECT:
CONSULTANT:
PROFESSIONAL SERVICES AGREEMENT
AMENDMENT NO.4
SilverRock Resort Civil Engineering Services
The Keith Companies
Pursuant to the terms of the original Contract Agreement, you are hereby directed to make the herein described changes or do
the following described work not included in the plans and specifications for this Contract. Unless otherwise stated all work
shall conform to the terms, general conditions, and special provisions of the original Contract.
DESCRIPTION OF CHANGE
Provide perimeter landscape survey and staking services, and survey work for BOR easement for SilverRock Resort.
**************************************************************************************************
Previous Contract Amount
$444,182.00
Amendment No.1
$30 000.00
Amendment No. 2
$178 079.00
Amendment No. 3
$15 000.00
Add this Amendment No. 4
$42 900.00
Revised Contract Total
$710,161.00
Submitted By: Date:
Approved By:
Date:
**************************************************************************************************
We, the undersigned Consultant, have given careful consideration to the change proposed and hereby agree, if this proposal
is approved, that we will provide all equipment, furnish all materials, perform all labor, except as may be noted above, and
perform all services' necessary to complete the above specified work, and hereby accept as full payment the amount shown
above.
Accepted By:
Consultant:
Title:
Date:
PSA96041.doc
139 4
T 4 44
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COUNCIL/RDA MEETING DATE: December 21, 2004
Approval of a Contract Services Agreement with
Brickley Environmental to Remove Asbestos
Material Found in Mobile Homes at the Vista Dunes
Mobile Home Park Prior to the Demolition of the
Mobile Homes
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 9
STUDY SESSION:
PUBLIC HEARING:
Approve a Contract Services Agreement with Brickley Environmental for asbestos
removal and disposal in mobile homes assigned for demolition at the Vista Dunes
Mobile Home Park.
FISCAL IMPLICATIONS:
This contract will result in an expenditure of
$400,000 was appropriated on August 17,
Financing Authority Bond Issue (Account No
disposal and demolition activities.
CHARTER CITY IMPLICATIONS:
up to $50,000 for these services;
2004 from the 2004 La Quinta
. 248-0000-290-00-00) for coach
Since this is a redevelopment agency project, it is not within the City's Charter City
powers. However, as an affordable housing project, it is nonetheless exempt from
the requirement of prevailing wage.
BACKGROUND:
Since the Agency acquired the Vista Dunes Mobile Home Park, 48 residents have
vacated the premises. This has created a growing number of vacant coaches,
increased vandalism and other criminal activities. Security service from William
Bower Associates has been put in place in order to remediate these activities.
Removal of the vacated coaches from the Park will further ensure the safety of
remaining residents and will prepare the site for future residential development.
Vacant coaches in adequate living condition are placed in silent auction and are
awarded to the highest bidder. Coaches that are dilapidated, or receive no bid,
140
require demolition services. Prior to demolition, each coach must be tested for
asbestos and other hazardous materials. Asbestos containing materials must be
abated before any demolition activities may begin. In order to ensure proper
asbestos abatement procedures, an environmental remediation contractor must be
retained. Three firms were contacted and interviewed. One of the firms
subsequently declined because they did not have adequate time for this
assignment. Based upon a lower proposal amount, quality of the interview and
references, Brickley Environmental was determined to be the best firm. Brickley
Environmental has the required licenses and insurance to perform the requested
asbestos removal and disposal services, and they have all the necessary equipment
to complete the requested services.
Once asbestos abatement procedures are completed, demolition contractors may
begin removing the coaches from the Park.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency Board include:
1. Approve a Contract Services Agreement with Brickley Environmental for
asbestos removal and disposal in mobile homes assigned for demolition at
the Vista Dunes Mobile Home Park; or
2. Do not approve a Contract Services Agreement with Brickley Environmental
for asbestos removal and disposal in mobile homes assigned for demolition at
the Vista Dunes Mobile Home Park; or
3. Provide staff with alternative direction.
Approved for submission by:
tzoe
oo
Thomas P. Genovese, Executive Director
Attachment: 1. Contract Services Agreement
t-a1
S:\CityMgr\STAFF REPORTS ONLY\C 20 VDMHP Asbestos Removal.doc 2
AGREEMENT FOR CONTRACT SERVICES
[ASBESTOS REMOVAL 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 Brickley Environmental. ("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 asbestos removal and disposal, as specified in the
"Scope of Services" attached hereto as Exhibit "A" 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).
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 inaccutacies are due to the negligence of Contractor.
1.6 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 a potential twelve (12) month term of Fifty Thousand Dollars ($50,000.00) ("Contract Sum").
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. 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 Section 3.4. Extensions to the time
period specified in the Schedule of Performance may be approved in writing by the Contract Officer,
3.3 Force Ma eure. The time period specified in Section 3.4 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
4
143
. �
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 until all required asbestos has been removed from
units scheduled for demolition. It is anticipated that the term will not exceed twelve (12) months.
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 make all decisions in connection therewith:
a. (please fill in) ?" / N1,v171 y - HiQ
b.
C.
It is expressly understood that the experience, knowledge, capability and .reputation of the
foregoing principal was 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.
144
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
Exhibit "A."
4.5 Agency Cooperation. The Agency shall 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 the Agreement, public 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 relaxed 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 City nor its insurers shall be required to contribute to
any such loss. A certificate evidencing the foregoing and naming the Agency and its officers and employees as
additional insured shall be delivered to and approved by the Agency prior to commencement of the services
hereunder. The amount of insurance required hereunder shall be One Million Dollars ($1,000,000.00); single
limit and per occurrence.
The Contractor shall also carry automobile liability insurance of ,$1,000,000 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 nor its insurers shall be required to contribute to
such loss. A certificate evidencing the foregoing and naming the Agency and its officers and employees as
additional insured 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 errors and omissions
liability insurance in the amount acceptable to the Agency.
All insurance required by the 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. The procurinA_04 cJ
s
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, its officers, employees, contractors,
subcontractors or agents.
5.2 Indemnification. The Contractor shall defend, indemnify and hold harmless
the Agency, its officers, officials, employees, representatives and agents, ("Agency indemnitees"), 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) ("Claims") and for errors and omissions committed by Contractor, its officers, anyone directly
or indirectly employed by 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,
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 or employees.
In the event the Agency indemnitees are made a party to any action, lawsuit, or other adversarial
proceeding in any way involving such Claims, Contractor shall provide a defense to the Agency indemnitees, or
at the Agency's option, reimburse the Agency indemnitees their costs of defense, including reasonable
attorney's fees, incurred in defense of such Claims. In addition contractor shall be obligated to promptly pay
any final judgment or portion thereof rendered against the Agency indemnitees.
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. 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.
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 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
(3 0) 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 parry'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
�g 147
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 b.Agency Prior To Expiration Of Term. The Agency 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
a
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 parry
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 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.
149
10
/I�F
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 parry 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.
To A eg_nc_y:
LA QUIN'TA REDEVELOPMENT AGENCY
78495 Calle Tampico
La Quinta, California 92253
Attention: Community Development Director
To Contractor:
Brickley Environmental
957 Reece Street
San Bernardino, CA 92411
Attention: Tim Brickley
9.2 Inte agrr ted A. g eement. 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 Auto. 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] 150
11
IN WITNESS WBEREOF, the parties have executed this Agreement as of the dates stated
below.
LA QUINTA REDEVELOPMENT AGENCY,
(a public body, corporate and politic)
Dated: By:
EXECUTIVE DIRECTOR
"AGENCY"
ATTEST:
Agency Secretary
APPROVED AS TO FORM:
Agency Counsel
Dated:
Dated: 5 Dee- 6,.>
"CONTRACTOR"
By:
V
Title:
PROJECT MANAGER D /%Z C G7257�9—_
II:
SCOPE OF SERVICES
Agency hereby retains Contractor to remove and dispose of asbestos containing materials (ACM) as
identified in survey report by Scott Morrison & Associates, in quantities and locations as outlined
below at the Vista Dunes Mobile Home Park:
1. Mobile Home #2
• Approx. 110 sq.ft. of 12" floor tile.
2. Mobile Home #4
• Approx. 400 sq.ft. of roof with mastic at seams.
3. Mobile Home #7
• Approx. 145 sq.ft. of vinyl floor in bedroom.
• Approx. 800 sq.ft. of roof with mastic at seams.
4. Mobile Home #8
• Approx. 280 sq.ft. of roof under foam.
5. Mobile Home # 16
• Approx. 280 sq.ft. of linoleum (2'd layer) in kitchen.
• Approx. 550 sq.ft. of roofing with silver paint.
6. Mobile Home # 17
• Approx. 100 sq.ft. of gray floor tile.
• Approx. 400 sq.ft. of roofing with silver and white covering.
7. Mobile Home #28
• Approx. 480 sq.ft. of roofing.
8. Mobile Home #3 9
• Approx. 420 sq.ft. of roof with silver paint.
Provide South Coast AQMD notification (Chent/Owner to pay all re -notification fees (min. $25
each) and to be responsible for all fees if the project is cancelled).
Brickley Environmental will provide all OSHA required personal air monitoring and have samples
analyzed by an independent and certified laboratory.
At the completion of this project and upon payment, Brickley Environmental will provide complete
documentation i.e.. notification letters, waste manifest, certificate of insurance, supervisor's daily
logs, etc.
All regulated waste generated from this project will be properly disposed of at an EPA, state or local
regulatory agency approved disposal facility, utilizing the appropriate waste disposal manifest.
Exhibit "A"
131�2
SPECIAL REQUIREMENTS
Work shall be performed in accordance within OSHA, EPA., and State Regulations.
Exhibit " B"
SCHEDULE OF COMPENSATION
Subject to services actually rendered, Agency shall compensate ,Contractor for services outlined in
Exhibit A when work is complete. The total fee for services outlined in Exhibit A at this time is Nine
Thousand Two Hundred and Fifty-five Dollars ($9,255.00). This is based upon the following:
1. Price based on one (1) move in all mobile homes available for abatement during a 2-3 day
period.
2. If job is prevailing wage, add $2, 700 to the fee for services as outlined in Exhibit A.
3. Should further asbestos removal and disposal services be required, Exhibit A will be modified
to reflect the additional work. These services will be provided at a comparable fee schedule.
Exhibit "C"
�j
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: December 21, 2004 CONSENT CALENDAR: /
ITEM TITLE: STUDY SESSION:
Approval of a Contract Services Agreement with
Emery Landclearing and Grading, Inc. to Demolish PUBLIC HEARING:
and Remove Vacated Mobile Homes from the Vista
Dunes Mobile Home Park
RECOMMENDATION:
Approve a Contract Services Agreement with Emery Landclearing and Grading, Inc.
for the demolition and removal of mobile homes at the Vista Dunes Mobile Home
Park.
FISCAL IMPLICATIONS:
This contract will result in an expenditure of up to $170,000 for these services;
$400,000 was appropriated for coach disposal and demolition activities from the
2004 La Quinta Financing Authority Bond Issue (Account No. 248-0000-290-00-
00) on August 17, 2004.
CHARTER CITY IMPLICATIONS:
Since this is a redevelopment agency project, it is not within the City's Charter City
powers. However, as an affordable housing project, it is nonetheless exempt from
the requirement of prevailing wage.
BACKGROUND:
Since the Agency acquired the Vista Dunes Mobile Home Park, 48 residents have
vacated the premises. The growing number of vacant coaches, increased
vandalism and other criminal activities, created a need for security service from
William Bower Associates to remediate these activities. Removal of the vacated
coaches from the Park will further ensure the safety of remaining residents and will
prepare the site for future land uses.
Vacant coaches in adequate living condition are placed in silent auction and are
awarded to the highest bidder. Coaches that are dilapidated or not bid on require
demolition services. Prior to demolition, each coach is tested for asbestos and
155
other hazardous materials and appropriate action is taken. Asbestos containing
materials must be abated before any demolition activities may begin. Once the
abatement procedures are completed demolition contractors may then begin
removing the coaches from the Park. Staff reviewed and interviewed three firms
for knowledge and experience in the removal of these mobile homes. Based upon
proposal amount, interviews and references, Emery Landclearing and Grading, Inc.
is the recommended firm.
Emery Landclearing and Grading, Inc. has the required licenses and insurance to
perform the requested demolition and removal services, and they have all the
necessary equipment to complete the requested services.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency Board include:
1. Approve a Contract Services Agreements with Emery Landclearing and
Grading, Inc. for demolition and removal of vacated coaches at the Vista
Dunes Mobile Home Park; or
2. Do not approve a Contract Services Agreement with Emery Landclearing and
Grading, Inc. for demolition and disposal of vacated coaches at the Vista
Dunes Mobile Home Park; or
3. Provide staff with alternative direction.
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachment: Contract Services Agreement
2
10-6
k
AGREEMENT FOR CONTRACT SERVICES
[DEMOLITION AND DISPOSAL 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 Emery Landclearing and Grading, Inc. ("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 demolition and disposal, as specified in the "Scope
of Services" attached hereto as Exhibit "A" 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).
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 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 a potential twelve (12) month term of One Hundred Seventy Thousand Dollars ($170,000.00)
("Contract Sum").
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. 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 Section 3.4. 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 Section 3.4 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 until all required asbestos has
been removed from units scheduled for demolition. It is anticipated that the term will not exceed
twelve (12) months.
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 make all decisions in connection therewith:
a. James C. Emery
b. Lori Emery
It is expressly understood that the experience, knowledge, capability and reputation of the
foregoing principal was. 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
Exhibit "A."
4.5 Agency Cooperation. The Agency shall 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 the Agreement, public 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 City nor its insurers shall be required to contribute to
any such loss. A certificate evidencing the foregoing and naming the Agency and its officers and employees as
additional insured shall be delivered to and approved by the Agency prior to commencement of the services
hereunder. The amount of insurance required hereunder shall be One Million Dollars ($1,000,000.00), single
limit and per occurrence.
The Contractor shall also carry automobile liability insurance of $1,000,000 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 nor its insurers shall be required to contribute to
such loss. A certificate evidencing the foregoing and naming the Agency and its officers and employees as
additional insured 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 errors and omissions
liability insurance in the amount acceptable to the Agency.
All insurance required by the 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. The procuring of
160 s
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, its officers, employees, contractors,
subcontractors or agents.
5.2 Indemnification. The Contractor shall defend, indemnify and hold harmless
the Agency, its officers, officials, employees, representatives and agents, ("Agency indemnitees"), 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) ("Claims") and for errors and omissions committed by Contractor, its officers, anyone directly.
or indirectly employed by 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,
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 or employees.
In the event the Agency indemnitees are made a party to any action, lawsuit, or other adversarial
proceeding in any way involving such Claims, Contractor shall provide a defense to the Agency indemnitees, or
at the Agency's option, reimburse the Agency indemnitees their costs of defense, including reasonable
attorney's fees, incurred in defense of such Claims. In addition contractor shall be obligated to promptly pay
any final judgment or portion thereof rendered against the Agency indemnitees.
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. 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.
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.
I R;1 7
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 hull 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 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 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 Agengy_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
163
9
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-DISCRaVIINATION.
8.1 Non -liability of Agency and City Officers and Employees. No 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.
164 1Q
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.
To Agency:
LA QUINTA REDEVELOPMENT AGENCY
78495 Calle Tampico
La Quinta, California 92253
Attention: Community Development Director
To Contractor:
Emery Landclearing and Grading, Inc.
PO Box 1009
Thermal, CA 92274-1009
Attention: Lori Emery
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]
165 11
IN WITNESS WBEREOF, the parties have executed this Agreement as of the dates stated
below.
Dated:
ATTEST:
Agency Secretary
APPROVED AS TO FORM:
Agency Counsel
Dated:
naree: 7 K IN
LA QUINTA REDEVELOPMENT AGENCY,
(a public body, corporate and politic)
By:
EXECUTIVE DIRECTOR.
"AGENCY"
"CONTRACTOR
"
By: —
LORI EMERY
Title:
VICE PRESIDENT
166 12
04,14 of IIlob)
SCOPE OF SERVICES
Agency hereby retains Contractor to demolish, remove and dispose of 15 mobile homes at the Vista
Dunes Mobile Home Park. Concrete foundation to remain intact, asphalt streets to remain intact, all
greenwast to be left intact, fences and block walls to remain intact unless removal needed for
equipment access. The units numbers of the mobile homes are as follows:
2, 41 7, 8, 161 171 1% 211 241 273, 281P 341 399 41 and 43.
Exhibit "A" 4
v 1 -
13
SPECIAL REQUIREMENTS
1. Owner to supply permits and inspection fees.
2. Costs do not include prevailing wages or dump fees.
3. If any bees or wasps located, owner to have professionally removed.
4. Utilities to be removed by utility companies. % 6f bi- Ova 6-T-I ue) A -A
5. All appliances to be free of Freon, including air conditioning units.
6. All hazardous wastes including paint, to be disposed of by others.
Exhibit " B"
1�8
14
EXHIBIT "C"
SCHEDULE OF COMPENSATION
Subject to services actually rendered, Agency shall compensate Contractor for services outlined in
Exhibit A when work is complete. The total fee for services outlined in Exhibit A at this time is
Thirty-four Thousand and Nme Hundred Dollars ($34,900.00).
1. Should further .demolition, removal and disposal services be required, Exhibit A will be
modified to reflect the additional work. These services will be provided at a comparable fee
schedule.
Exhibit "C"
1.9
COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE:
A Joint Public Hearing Between the City Council
and Redevelopment Agency to Consider an
Agreement to Sell Real Property Located at 78-310
Desert Fall Way By and Between the La Quinta
Redevelopment Agency and Felix Perez
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve the Agreement to sell a single-family home located at 78-310 Desert Fall
Way to Felix Perez for a purchase price of $165,000, and authorize the Executive
Director to execute the necessary documents.
FISCAL IMPLICATIONS:
The Agreement would result in the Agency receiving approximately $107,000 from
sale proceeds. The Agency would also provide a $50,000 silent second trust deed
loan to insure that the dwelling is affordable to a low-income household for 45
years.
BACKGROUND AND OVERVIEW:
On October 14, 2004, the Agency acquired this property at a Trustee's foreclosure
sale to protect its recorded low-income affordability covenant and to maintain the
Agency's low-income affordable housing stock. The previous owner stopped
paying their first trust deed mortgage payments and abandoned the property. The
foreclosure sale purchase price was $240,000, with the Agency receiving $78,900
in foreclosure sale proceeds; $50,000 to repay the Agency's silent second trust
deed loan and $28,900 in shared appreciation income. Prior to offering the
property for sale, the Agency invested $4,000 to rehabilitate the dwelling and
correct any deficiencies. The net Agency investment is $165,100; $161,100 to
retire the first trust deed mortgage obligations and $4,000 in rehabilitation
expenses.
When the Agency initiated relocation activities at the Vista Dunes Mobile Home
Park, staff began working with interested Park residents who could qualify for first
trust deed mortgage loans to purchase homes that were in the Rental Housing
170
Program or featured an Agency sponsored silent second trust deed mortgage. Ms.
Perez, who is a Vista Dunes resident, expressed interest in purchasing a home and
took the required actions to qualify for a first trust deed loan. This home then
became available, and upon inspection, she elected to purchase it.
The sale transaction would be structured wherein an Agency silent second trust
deed mortgage would cover the difference between the sales price, and the down
payment and an affordable first trust deed mortgage. If this sale is authorized, the
unit will be sold for $165,000, with the buyer funding an 11 % or $18,000 down
payment, and a private lender originating a $97,000 first trust deed mortgage (the
maximum loan the homebuyer can obtain and have overall housing costs affordable
to a low-income household). The Agency would convert $50,000 of its equity into
a silent second trust deed loan.
This unit was previously counted toward the Agency's inclusionary housing
requirement and this sale will maintain that covenant.
Attachment 1 is a Summary Report that further details this transaction. Pursuant
to the Redevelopment Law, a joint public hearing of the City Council and Agency
Board must be held prior to approving the sale of Agency property purchased with
tax increment revenue.
FINDINGS AND ALTERNATIVES:
Alternatives available to the Redevelopment Agency include:
1. Approve the Agreement to sell a single-family home located at 78-310
Desert Fall Way to Felix Perez for a purchase price of $165,000, and
authorize the Executive Director to execute the necessary documents; or
2. Do not approve the Agreement to sell a single-family home at 78-310 Desert
Fall Way to Felix Perez for a purchase price of $165,000, and authorize the
Executive Director to execute the necessary documents; or
3. Provide staff with an alternative direction.
Approved for submission by:
000�
Thomas P. Genovese, Executive Director
Attachments: 1 Summary Report
171
ATTACHMENT 1
SUMMARY REPORT
FOR THE PROPOSED RESIDENTIAL HOME SALE AGREEMENT
BETWEEN THE
LA QUINTA REDEVELOPMENT AGENCY
AND
FELIX PEREZ
December 21, 2004
INTRODUCTION
This document is the Summary Report ("Report") for the proposed Sale Agreement
("Agreement") between the La Quinta Redevelopment Agency ("Agency") and Felix
Perez ("Buyer"). The purpose of Agreement is to facilitate the sale by the Agency
of a single-family dwelling to the Buyer.
This. Report has been prepared pursuant to Section 33433 of the California Health
and Safety Code ("California Community Redevelopment Law") and presents the
following:
• A summary of the proposed transaction.
• The cost of the sale to the Agency.
• The estimated value of the interest to be conveyed, determined at the highest
and best uses permitted by the Agency's Redevelopment Plan.
• The estimated value to be conveyed, determined by the use and with the
conditions, covenants, and development costs required by the Agreement.
• An explanation of why the sale, pursuant to the Agreement, will assist in the
elimination of blight. -
Subject Property
The home is a vacant 3-bedroom, 2-bath single-family dwelling located at 78-310
Desert Fall Way within La Quinta Redevelopment Project Area No. 1 ("Property").
The property was initially purchased new in November, 1999 with a silent second
trust deed loan of $50,000 provided to a low-income household through the
La Quinta Housing Program. The owner then elected to not maintain their first
trust deed mortgage loan payments and abandoned the Property. In order to
preserve its second trust deed loan and the low-income affordability covenant, the
Agency acquired the Property in October, 2004 through a Trustee's foreclosure
sale. The Agency subsequently refurbished the dwelling prior to offering it for sale.
3
S:\CityMgr\STAFF REPORTS ONLY\PH 4 SumRpt Desert Fall way.doc 172
A SUMMARY OF THE PROPOSED TRANSACTION
The Agency is in the process of relocating residents from the Vista Dunes Mobile
Home Park. The Buyer, a Vista Dunes resident who was being relocated,
expressed interest in purchasing a home in La Quinta and subsequently qualified for
a first trust deed loan. The Agreement facilitates the sale of the Property to the
Buyer, who will occupy the dwelling. The $165,000 sales price will be funded
through a combination of the Buyer's $18,000 down payment, a $97,000 first
trust deed mortgage, and $50,000 of the Agency's equity that will be converted
into a silent second .trust deed loan. This second trust deed loan will include
covenants to insure that the Property will remain affordable to a low income -
household for 45 years.
THE COST OF THE SALE TO THE AGENCY
To date the Agency has invested $165,100 in this property, $161,100 to retire the
first trust deed loan obligations and $4,000 to refurbish the unit. The foreclosure
sale purchase cost was $ 240,000; however, the Agency received $ 78, 900 in
foreclosure sale proceeds; $50,000 to repay the Agency's silent second trust deed
loan and $28,900 in shared appreciation income. Prior to offering the property for
sale, the Agency invested $4,000 to rehabilitate the dwelling and correct any
deficiencies.
Per the Agreement the Agency will sell the Property for $165,000; of this amount
the Agency will receive $1 15,000 in sale proceeds and convert $50,000 of its
equity into a silent second trust deed mortgage loan of $50,000 in order to insure
that the annual costs are affordable to a low-income household. The Agency will
recover 71 % of its investment to date from the sale proceeds.
ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED AT THE HIGHEST AND
BEST USES PERMITTED BY THE AGENCY'S REDEVELOPMENT PLAN
The Redevelopment Plan for La Quinta Redevelopment Project Area No. 1 provides
that the Property shall be used for low -density residential development. Current
residential property sales for like dwellings in the Cove market area indicate values,
of $240,000 to $250,000 for three bedroom, two bath single family dwellings in
good condition.
ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED DETERMINED BY THE
USE, AND WITH THE CONDITIONS,. COVENANTS
The Agreement provides that the Property will be sold for $165,000. This value
was selected in order to facilitate the sale at a cost affordable to a low-income
household.
n
S:\CityMgr\STAFF REPORTS ONLY\PH 4 SumRpt Desert Fall way.doc 173
EXPLANATION OF WHY THE SALE OF THE PROPERTY PURSUANT TO THE
AGREEMENT WILL ASSIST IN THE ELIMINATION OF BLIGHT
The Agreement does not eliminate blight in that it does not facilitate a transaction
that remedies blight. Instead the Agreement expands the supply of affordable
ownership housing in the Project Area. Prior to the sale, the_Agency substantially
rehabilitated the Property to extend the Property's economic life, to reduce the
maintenance burdens for the family that will occupy this unit, and to improve
operating efficiencies by installing low water landscaping and efficient heating, air
conditioning and water heating devices. The Agreement includes covenants that
require the dwelling to remain affordable to very low-income households for a 45
year period. This effort not only preserved housing that was affordable to very
low-income households but will also insure that this dwelling remains affordable for
the longest feasible time.
5
S:\CityMgr\STAFF REPORTS ONLY\PH 4 SumRpt Desert Fall way.doc 1174
COUNCIL/RDA MEETING DATE: December 21, 2004
ITEM TITLE:
A Joint Public Hearing Between the City Council
and Redevelopment Agency to Consider an
Agreement to Sell Real Property Located at 52-830
Avenida Martinez By and Between the La Quinta
Redevelopment Agency and Danielle Davenport
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING: v�
Approve the Agreement to sell the single-family home located at 52-830 Avenida
Martinez to Danielle Davenport for a purchase price of $165,000, and authorize the
Executive Director to execute the necessary documents.
FISCAL IMPLICATIONS:
The Agency will receive approximately $95,000 from sale proceeds and will fund a
$70,000 silent second trust deed loan; funding the second trust deed loan will
insure that the dwelling is affordable to a very low-income household.
BACKGROUND AND OVERVIEW:
In August, 1995, the Agency acquired 50 single-family homes in the Cove to
remove them from bankruptcy proceedings filed by the then owner, Coachella
Valley Land. Known as the La Quinta Rental Housing Program, these dwellings
were rented to very low-income Section 8 households. In February 1998, the
Agency directed staff to sell two units per year first to qualified tenants, and
second, to other eligible very low-income households. Since 1998, the Agency has
also been substantially rehabilitating these units in order to count them towards the
Agency's affordable housing production requirements. State law requires existing
dwellings be substantially rehabilitated (wherein the rehabilitation costs are 25% or
greater than current market value) in order to count them as part of the Agency's
affordable housing production efforts. Property rehabilitation costs have been
funded from rental income.
S:\CityMgr\STAFF REPORTS ONLY\PH 5 RDA sale Martinez.doc
When the Agency initiated relocation activities at the Vista Dunes Mobile Home
Park, staff began working with interested Park residents who could qualify for first
trust deed mortgage loans to purchase homes that were in the Rental Housing
Program or featured an Agency sponsored silent second trust deed mortgage. The
Rental Housing Program property manager and/or local realtors (in the case of
homes with silent second trust deed mortgages) continually contact staff when
Rental Housing Program homes are vacant, or when Agency second trust deed
mortgage homes are offered for sale. Ms. Davenport is a Vista Dunes resident who
expressed interest in purchasing a home. A Rental Housing Program home was
available and Ms. Davenport subsequently qualified for a first trust deed mortgage
loan.
The sale transaction would be structured wherein an Agency silent second trust
deed mortgage would cover the difference between the sales price, and the down
payment and an affordable first trust deed mortgage. If this sale is authorized, the
unit will be sold for $165,000 with the buyer funding a 19% or $32,000 down
payment, and a private lender originating a $63,000 first trust deed mortgage (the
maximum loan the homebuyer can obtain and have overall housing costs affordable
to a very low-income household). The Agency would convert $70,000 of its equity
into a silent second trust deed loan. This sale would be the 16th Rental Housing
Program unit to be sold; ten were sold to existing tenant, and six to non -tenant,
households.
Attachment 1 is a Summary Report that further details this transaction. Pursuant
to the Redevelopment Law, a joint public hearing of the City Council and Agency
Board must be held prior to approving the sale of Agency property purchased with
tax increment revenue.
FINDINGS AND ALTERNATIVES:
Alternatives available to the Redevelopment Agency include:
1. Approve the Agreement to sell the single-family home located at 52-830
Avenida Martinez to Danielle Davenport for a purchase price of $165,000,
and authorize the Executive Director to execute the necessary documents; or
2. Do not approve the Agreement to sell the single-family home located at 52-
830 Avenida Martinez to Danielle Davenport for a purchase price of
$165,000, and do, not authorize the Executive Director to execute the
necessary documents; or
1,76 2
S:\CityMgr\STAFF REPORTS ONLY\PH 5 RDA sale Martinez.doc
3. Provide staff with an alternative direction.
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Summary Report
K,
S:\CityMgr\STAFF REPORTS ONLY\PH 5 RDA sale Martinez.doc 177
ATTACHMENT 1
SUMMARY REPORT
FOR THE PROPOSED RESIDENTIAL HOME SALE AGREEMENT
BETWEEN THE
LA QUINTA REDEVELOPMENT AGENCY
AND
DANIELLE DAVENPORT
December 21, 2004
INTRODUCTION
This document is the Summary Report ("Report") for the proposed Sale Agreement
("Agreement") between the La Quinta Redevelopment Agency ("Agency") and
Danielle Davenport ("Buyer"). The Agreement facilitates the sale of an Agency
single-family dwelling to the Buyer.
This Report has been prepared pursuant to Section 33433 of the California Health
and Safety Code (California Community Redevelopment Law) and presents the
following:
• A summary of the proposed transaction.
• The cost of the sale to the Agency.
• The estimated value of the interest to be conveyed, determined at the highest
and best uses permitted by the Agency's Redevelopment Plan.
• The estimated value to be conveyed, determined by the use and with the
conditions, covenants, and development costs required by the Agreement.
• An explanation of why the sale, pursuant to the Agreement, will assist in the
elimination of blight.
The Subject Property
The home is a vacant 3-bedroom 2-bath single-family dwelling located at 52-830
Avenida Martinez within La Quinta Redevelopment Project Area No. 1 ("Property").
In August, 1995, the Agency acquired 50 single-family homes to remove them.
from bankruptcy proceedings filed by the then owner, Coachella Valley Land.
Known as the La Quinta Rental Housing Program, these dwellings were rented to
very low-income Section 8 households. In February 1998, the Agency directed
staff to sell two units per year, first to qualified tenants, and second, to other
eligible very low-income households. Since 1998, the Agency has also been
substantially rehabilitating these units in order to count them towards that
Agency's affordable housing production requirements. State law requires that an
existing dwelling be substantially rehabilitated (wherein the rehabilitation costs are
178
25 % or greater than the current market value) in order to count them as part of the
Agency's affordable housing production efforts. Property rehabilitation costs have
been funded from rental income. The existing tenant recently vacated the property
and per Agency policy, staff initiated the sale of this unit to a very low-income
household.
A SUMMARY OF THE PROPOSED TRANSACTION
The Agency is in the process of relocating residents from the Vista Dunes Mobile
Home Park. The Buyer, a Vista Dunes resident who was being relocated,
expressed interest in purchasing a home in La Quinta and subsequently qualified for
a first trust deed loan. The Agreement facilitates the sale of the Property to the
Buyer, who will occupy the dwelling. The $165,000 sales price will be funded
through a combination of the Buyer's $32,000 down payment, a $63,000 first
trust deed mortgage, and $70,000 of the Agency's equity that will be converted
into a silent second trust deed loan. This second trust deed loan will include
covenants to insure that the Property will remain affordable to very low income -
household for 45 years.
THE COST OF THE SALE TO THE AGENCY
The Agency has invested $127,750 in the Property through a combination of the
$86,500 initial purchase cost and $41,250 of expenses related to substantially
rehabilitating the dwelling. Since 1998, the Agency has been substantially
rehabilitating the Rental Housing Program units in order to count them towards the
Agency's affordable housing production requirements. State law requires that
existing dwellings be substantially rehabilitated (wherein the rehabilitation costs are
25 % or greater that than current market value) in order to count them as part of
the Agency's affordable housing production efforts. Property rehabilitation costs
were funded from rental income.
Per the Agreement the Agency will sell the Property for $165,000; of this amount
the Agency will receive $95,000 in sale proceeds and convert $70,000 of its
equity into a silent second trust deed mortgage loan of $70,000 in order to insure
that the annual costs are affordable to very low-income households. The Agency
will recover 74% of its investment to date from the sale proceeds.
ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED AT THE HIGHEST AND
BEST USES PERMITTED BY THE AGENCY'S REDEVELOPMENT PLAN
The Redevelopment Plan for La Quinta Redevelopment Project Area No. 1 provides
that the Property shall be used for low -density residential development. Current
residential property sales for like dwellings in the Cove market area indicate values
S:\CityMgr\STAFF REPORTS ONLY\PH 5 SumRpt-52-830 martinez.doc
of $210,000 to $225,000 for three bedroom, two bath single-family dwellings in
good condition.
ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED DETERMINED BY THE
USE, AND WITH THE CONDITIONS, COVENANTS
The Agreement provides that the Property will be sold for $165,000. This value
was selected in order to facilitate the sale at a cost affordable to a very low-income
household.
EXPLANATION OF WHY THE SALE OF THE PROPERTY PURSUANT TO THE
AGREEMENT WILL ASSIST IN THE ELIMINATION OF BLIGHT
The Agreement does not eliminate blight in that it does not facilitate a transaction
that remedies blight. Instead the Agreement expands the supply of affordable
ownership housing in the Project Area. Prior to the sale, the Agency substantially
rehabilitated the Property to extend the Property's economic life, to reduce the
maintenance burdens for the family that will occupy this unit, and to improve
operating efficiencies by installing low water landscaping and efficient heating, air
conditioning and water heating devices. The Agreement includes covenants that
require the dwelling to remain affordable to very low-income households for a 45
year period. This effort not only preserved housing that was affordable to very
low-income households but will also insure that this dwelling remains affordable for
the longest feasible time.
No
S:\CityMgr\.STAFF REPORTS ONLY\PH 5 SumRpt-52-830 martinez.doc 1910