2005 02 15 RDAe a-5
, �v 4412
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, February 15, 2005 - 2:00 P.M.
Beginning Resolution No. RA 2005-001
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Henderson, Perkins, Sniff, and Chairman Osborne
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 AGENCY LEGAL COUNSEL REGARDING INITIATION OF
LITIGATION PURSUANT TO GOVERNMENT CODE SECTION 54956.9(c) (ONE
MATTER)
Redevelopment Agency Agenda 1 February 15, 2005
2. 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 LOCATED AT THE SOUTHWEST CORNER OF HIGHWAY 111
AND DUNE PALMS ROAD (APN 649-030-034). PROPERTY OWNER/NEGOTIATOR:
CHRIS CLARKE.
3. CONFERENCE WITH AGENCY'S LEGAL COUNSEL REGARDING PENDING
LITIGATION, LA QUINTA REDEVELOPMENT AGENCY V. KSL DESERT RESORTS,
INC., RIVERSIDE SUPERIOR COURT CASE NO. INC 044676, PURSUANT TO
GOVERNMENT CODE SECTION 54956.9(a)
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 FEBRUARY 1, 2005.
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 FEBRUARY 15, 2005.
2. TRANSMITTAL OF TREASURER'S REPORT FOR DECEMBER 31, 2004.
3. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT FOR DECEMBER 31,
2004.
4. APPROVAL OF SETTLEMENT AGREEMENT WITH ALFREDO INCLAN.
Redevelopment Agency Agenda 2 February 15, 2005
BUSINESS SESSION
1. CONSIDERATION OF MID -YEAR BUDGET REPORT FOR FISCAL YEAR 2004/2005.
A. MINUTE ORDER ACTION
2. CONSIDERATION OF SilverRock RESORT BUDGET STATUS REPORT.
A. MINUTE ORDER ACTION
STUDY SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
ADJOURNMENT
Adjourn to the next scheduled meeting of the Redevelopment Agency to be held on March
3, 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.
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, February 15, 2005,
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 1 1 1, on Friday,
February 11, 2005.
DATED: February 11, 2005
�1 JUNE S. GREEK, CIVIC, City Cler
City of La Quinta, California
Redevelopment Agency Agenda 3 February 15, 2005
T 0
4t,V1 4 ,epQur«rw
AGENDA CATEGORY:
BUSINESS SESSION
COUNCIL/RDA MEETING DATE: FEBRUARY 15, 2005
CONSENT CALENDAR I
ITEM TITLE:
Demand Register Dated February 15, 2005
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
STUDY SESSION
PUBLIC HEARING
Receive and File the Demand Register Dated February 15, 2005 of which $3,459,556.17
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
r' , vcrrna.m+
OF I�ti9
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: February 15, 2005
BUSINESS SESSION:
ITEM TITLE: Transmittal of Treasurer's Report as of December 31, 2004 CONSENT CALENDAR: C1.
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
CV
FM OF IK��
COUNCIL/RDA MEETING DATE: February 15, 2005 AGENDA CATEGORY:
ITEM TITLE: Transmittal of Revenue and
Expenditure Reports dated December 31, 2004
RECOMMENDATION:
Receive and File
FISCAL IM PUCATIONS:
None.
CHARTER CITY IM PUCATIONS:
None.
BACKGROUND AND OVERVIEW:
BUSINESS SESSION:
CONSENT CALENDAR: .3
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the December 31, 2004 Statement of Revenue and Expenditures for
the La Quinta Redevelopment Agency.
Respectfully submitted,
Jo n M. Falconer, finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, December 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 LOW/MOD BOND
LOW/MODERATE 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 LOW/MOD 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
3,976.04
(3,976.04)
0.00
0.00
0.00
0.00
0.00
0.00
341,000.00
142,344.00
198,656.00
165,000.00
240,787.59
(75,787.59)
660,000.00
0.00
660,000.00
0.00
46,961.48
(46,961.48)
0.00
84,759.76
(84,759.76)
0.00
746,999.75
(746,999.75)
0.00
0.00
0.00
7,433,100.00
1,265,828.62
6,167,271.38
24,985,400.00
0.00
24,985,400.00
66,000.00
38,922.60
27,077.40
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
550,064.12
26,979,682.88
0.00
70,460.46
(70,460.46)
0.00
244,405.01
(244,405.01)
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
314,865.47
(314,865.47)
0.00
0.00
0.00
0.00
36,628.39
(36,628.39)
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
36,628.39
(36,628.39)
K
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO. 1:
LOW/MODERATE BOND FUND
PERSONNEL
SERVICES
REIMBURSEMENT TO GEN FUND
HOUSING PROJECTS
TRANSFERS OUT
TOTAL LOW/MOD BOND
07/01/2004 - 12/31/04 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
LOW/MODERATE TAX FUND:
PERSONNEL
4,900.00
3,657.70
0.00
1,242.30
SERVICES
253,157.00
65,445.09
0.00
187,711.91
BUILDING HORIZONS
250,000.00
75,000.00
0.00
175,000.00
LQ RENTAL PROGRAM
150,000.00
125,178.73
0.00
24,821.27
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
77,591.04
0.00
198,819.96
LQ HOUSING PROJECTS
500,000.00
265,000.00
0.00
235,000.00
REIMBURSEMENT TO GEN FUND
668,272.00
334,136.02
0.00
334,135.98
TRANSFERS OUT
2,478,347.00
511,141.52
0.00
1,967,205.48
TOTAL LOW/MOD TAX
8,099,327.00
1,522,150.10
0.00
6,577,176.90
DEBT SERVICE FUND:
SERVICES
496,585.00
18,467.99
0.00
478,117.01
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
476,382.00
0.00
476,382.00
PASS THROUGH PAYMENTS
11,903,406.00
726,113.75
0.00
11,177,292.25
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
8,118,761.39
0.00
20,554,063.61
CAPITAL IMPROVEMENT FUND:
PERSONNEL
4,900.00
3,112.55
0.00
1,787.45
SERVICES
116,393.00
52,040.31
0.00
64,352.69
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
16,584.95
0.00
33,415.05
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
163,471.52
0.00
232,541.48
TRANSFERS OUT
39,278,614.00
6,892,326.72
0.00
32,386,287.28
TOTAL CAPITAL IMPROVEMENT
39,885,920.00
7,134,036.05
0.00
32,751,883.95
CAPITAL IMPROVEMENT FUND/TAXABLE BOND
BOND ISSUANCE COSTS
0.00
0.00
0.00
0.00
TRANSFERS OUT
5,778,816.00
5,001,286.67
0.00
777,529.33
TOTAL CAPITAL IMPROVEMENT
5,778,816.00
5,001,286.67
0.00
777,529.33
4
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO.2:
LOW/MODERATE 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 LOW/MODERATE 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
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
21,572.47
2,527.53
0.00
0.00
0.00
7,054,074.00
7,096,293.56
(42,219.56)
0.00
159,973.31
(159,973.31)
0.00
251,392.95
(251,392.95)
0.00
0.00
0.00
801,358.00
801,359.00
(1.00)
0.00
0.00
0.00
10,994,532.00
8,330,591.29
2,663,940.71
0.00
0.00
0.00
0.00
0.00
0.00
0.00
493,935.77
(493,935.77)
0.00
0.00
0.00
0.00
493,935.77
(493,935.77)
12,459,800.00
0.00
12,459,800.00
0.00
25,997.32
(25,997.32)
0.00
(5.35)
5.35
0.00
0.00
0.00
4,099,819.00
3,401,994.57
697,824.43
16,559,619.00
3,427,986.54
13,131,632.46
0.00
18,856.70
(18,856.70)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
18,856.70
(18,856.70)
LA QUINTA REDEVELOPMENT AGENCY
07101/2004-12/31/04
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA NO.2:
LOW/MODERATE BOND FUND
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
0.00
0.00
LOW/MODERATE TAX FUND:
PERSONNEL
2,900.00
1,883.60
0.00
1,016.40
SERVICES
192,088.00
196,641.54
0.00
(4,553.54)
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
143,195.17
0.00
(143,195.17)
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
150,000.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
333,272.00
166,635.98
0.00
166,636.02
TRANSFERS OUT
7,350,044.00
6,026,689.33
0.00
1,323,354.67
TOTAL LOW/MOD TAX
13,397,746.00
6,741,772.32
0.00
6,655,973.68
2004 LOW/MODERATE BOND FUND
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
1,920,965.00
50,048.20
0.00
1,870,916.80
TOTAL LOW/MOD BOND
1,920,965.00
50,048.20
0.00
1,870,916.80
DEBT SERVICE FUND:
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
729,786.00
0.00
323,794.00
INTEREST - ERAF L/MOD 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
1,245,332.51
0.00
12,006,049.49
CAPITAL IMPROVEMENT FUND:
PERSONNEL
2,900.00
2,212.78
0.00
687.22
SERVICES
117,820.00
35,648.22
0.00
82,171.78
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
20,722.48
0.00
20,720.52
TRANSFERS OUT
1,426,079.00
(28,891.92)
0.00
1,454,970.92
TOTAL CAPITAL IMPROVEMENT
1,628,492.00
33,191.56
0.00
1,595,300.44
C.1
G� �f 9ti5
OF
COUNCIL/RDA MEETING DATE: February 15, 2005
ITEM TITLE: Approval of Settlement Agreement with
Alfredo Inclan
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve the Settlement Agreement with Alfredo Inclan attached hereto
(Attachment 1) and authorize the Executive Director to execute the Agreement on
behalf of all of the defendants with any final changes approved by the Executive
Director and Agency Counsel.
FISCAL IMPLICATIONS:
The Affordable Housing Fund has a sufficient balance to settle Mr. Inclan's claim in
the amount of $40,000.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Alfredo Inclan is one of three plaintiffs in the pending state and federal lawsuits
entitled Garcia et a/. v. City of La Quinta et a/., which relate to claims made by
three residents at the Vista Dunes Mobile Home Park. In mid -January, Mr. Inclan
indicated that he wanted to settle his interest in the lawsuit and dismiss himself
from the pending federal and state actions. The City Attorney's office prepared a
settlement agreement and been working with Alfredo Inclan's legal counsel to
resolve his claims. The City Attorney's office has reached agreement with Mr.
Inclan to settle his interest in the lawsuit for $40,000. This amount also equals the
offer initially extended to Mr. Inclan by the Agency's relocation consultant on April
19, 2004. In connection with this settlement, Mr. Inclan will be dismissing himself
with prejudice from the lawsuit.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency include:
1 . Approve the Settlement Agreement with Alfredo Inclan attached hereto and
authorize the Executive Director to execute the Agreement on behalf of all of
the defendants with any final changes approved by the Executive Director
and Agency Counsel; or
2. Do not approve the Settlement Agreement; or
3. Provide staff with alternative direction.
Respectfully submitted,
��g� Michael R.W. Houston, Assistant Age cy Counsel
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachment: 1. Form of Settlement Agreement
2
ATTACHMENT 1
SETTLEMENT AGREEMENT AND RELEASE
AND
RELEASE OF ALL CLAIMS
This SETTLEMENT AGREEMENT AND RELEASE OF ALL CLAIMS ("Agreement")
is entered into this day of February, 2005 by and between the La Quinta
Redevelopment Agency, a public body corporate and politic (the "Agency"), the City of La
Quinta, a California .charter city and municipal corporation (the "City"), the City of La Quinta
City Council, Donald Adolph, Stanley Sniff, Ron Perkins, Terry Henderson, and Lee Osborne, in
their official capacities as members of the City Council and board members of the La Quinta
Redevelopment Agency, and Thomas Genovese, in his official capacity as City Manager of the
City of La Quinta and Executive Director of the Redevelopment Agency (collectively, the
"Defendants"), and Alfredo Inclan ("Inclan"). The Defendants and Inclan are hereinafter
sometimes individually referred to as "Party" and collectively referred to as "Parties."
This Agreement is made with reference to the following facts:
RECITALS
A. Agency has purchased that real property commonly known as Vista Dunes Mobile
Home Park ("Park"), located at 78-990 Miles Avenue, La Quinta, California, 92253 ("Property").
B. The Property is currently used as a park for mobile homes, motor homes, and
travel trailers.
C. Inclan is the owner of one such mobile home ("Mobile Home"), utilized for
residential purposes on the Property on Space # 89 ("Subject Space"). Inclan pays monthly rent
for the right to place the Mobile Home on the Subject Space.
D. On August 2, 2004, Inclan and two other persons, Ramon Garcia Martinez and
Jose de la Pena (Martinez and de la Pena are hereinafter referred to as the "Remaining
Plaintiffs"), filed a complaint in the United States District Court, Case No. CV 04-06373 DT
(RZx), against Defendants (hereafter the "Federal Action"). On August 17, 2004, Defendants
filed an answer in the Federal Action, and, on September 1, 2004, Defendants filed an amended
answer in the Federal Action. On December 1, 2004, the judge in the Federal Action, the
Honorable Dickran Trevizian, issued an order, sua sponte, dismissing without prejudice the state
law claims from the Federal Action. Subsequently, on January 10, 2004, Judge Trevizian stayed
adjudication of the remaining federal causes of action until such time as the State Action
(described below) was resolved.
E. On December 29, 2004, Inclan and the Remaining Plaintiffs filed a complaint in
California Superior Court in Riverside County, Case No. INC 047843, against Defendants (the
"State Action").
F. To provide for certain payments, and in full discharge of all of Inclan's claims
which have been the subject of the Federal Action and the State Action, Defendants and Inclan,
now desire to finally settle all claims asserted in, as well as all issues that were raised or could
2156/015610-0080 3
573058.07 a02/10/05
have been raised by, Inclan or the Defendants in the Federal Action and the State Action, as well
as any claims or potential claims arising from any transactions or occurrences between
Defendants, on one hand, and Inclan, on the other hand, on -the terms set forth in this Agreement.
G. Additionally, as part of this Agreement, Inclan desires to sell and transfer title of
the Mobile Home to Agency and relocate to an apartment unit in Hadley Villas, a HUD 202
senior project located in the City of La Quinta. As of the date of this Agreement, Inclan has
obtained exclusive possession of an apartment unit at Hadley Villas and is presently residing
there. Agency is willing to purchase Mobile Home from Inclan on the terms contained in this
Agreement. Furthermore, subject to the terms of the License created in this Agreement (which is
more fully described below), Inclan desires to have unfettered access to the Mobile Home and
Space # 89 for the purpose of removing personal property and belongings and other property
from the Mobile Home. Agency desires to grant a License (defined below) to Inclan for the
limited purpose of allowing Inclan unfettered access to the Mobile Home and Space # 89 to
remove personal property and belongings and other property from the Mobile Home, subject to
the terms and conditions contained in this Agreement. Inclan desires to accept this License
(defined below) on such terms and conditions.
H. Inclan and Defendants do not intend by entering into this Agreement, nor should
the Agreement be so construed, to resolve, settle, dismiss, release, or otherwise affect any of the
claims asserted by the Remaining Plaintiffs in the pending Federal and State actions described
above.
AGREEMENT
In consideration of the foregoing Recitals, which are incorporated herein, and the
covenants and promises hereinafter contained, and for good and valuable consideration, the
receipt and sufficiency is hereby acknowledged, the parties hereby agree as follows:
l . Relocation Assistance Settlement Amount Payment to Inclan:
In settlement of all claims released by this Agreement, the Agency shall pay to Inclan the
total sum of Forty Thousand Dollars ($40,000) as relocation assistance (the "Settlement
Amount").
2. Method and Timing of Payments to Seller.
The Agency payment to Inclan of the Settlement Amount shall be made the in the
following manner: Agency shall make the check for the Settlement Amount payable to Inclan.
The Settlement Payment shall be made by delivering the check to Inclan within five business
days after the date this Agreement has been fully executed by all the Parties and their
representatives identified in the signature pages, and delivered to the Clerk of the Agency along
with all other documentation required to effect this Agreement (including without limitation the
dismissal described in Section 3 and any documentation reasonably necessary to effect a transfer
of title for the Mobile Home), executed by Inclan and his representatives. It is the understanding
of the Parties that the Settlement Amount consists of relocation assistance and is not subject to
4
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taxation; however, Inclan acknowledges and understands that the Defendants do not represent
and warrant, nor have they represented or warranted, any tax effects that may occur as a result of
accepting the Settlement Amount and Inclan acknowledges and understands that he should seek
advice from a competent tax professional. Agency's Settlement Amount obligation pursuant to
this Agreement shall be fully discharged and satisfied upon delivery of the Settlement Amount to
Inclan as set forth herein, provided however, that the Settlement Amount check is not thereafter
returned for insufficient funds .or payment stopped thereon.
3. Dismissal of Inclan from the Actions.
Concurrently with delivery of an executed copy of this Agreement, and as a condition
concurrent to Defendants' paying the Settlement Amount, Inclan shall deliver to the Clerk of the
Agency executed Dismissals of Inclan With Prejudice from both the Federal Action and the State
Action, pursuant to Federal Rule of Civil Procedure, Rule 41(a), and California Code of Civil
Procedure Section 581(c), respectively. Inclan shall obtain all necessary signatures on the
dismissals prior to delivering them to the Agency.
4. No Admissions.
By entering into this Agreement, Defendants do not admit that they have engaged in, or
are now engaging in, any unlawful conduct. ,It is understood and agreed that this Agreement is
not an admission of liability, and that Defendants specifically deny liability in the Federal Action
and the State Action and that the Parties intend merely to resolve Inclan's claims by entering into
this Agreement. The Parties agree that it is their mutual intention that neither this Agreement nor
any terms hereof shall be admissible in the pending State of Federal Actions or any other pending
or future proceedings against Defendants, except a proceeding to enforce this Agreement. The
Parties further agree that with respect to the Federal Action and the State Action neither Inclan
nor the Defendants shall assert that such Party is a "prevailing party" for the purpose of
establishing a right to attorneys' fees or litigation costs and expenses pursuant to Code of Civil
Procedure Section 1021.5, any similar statute that may permit attorneys' fees and litigation costs
or expenses upon a prevailing party, or under any common law doctrine that may permit
attorneys' fees and litigation costs or expenses upon a prevailing party. With respect to the
Remaining Plaintiffs, this Agreement shall have no effect and shall not be interpreted to create a
pro-rata reduction in any attorneys' fees or litigation costs or expenses that may be awarded to a
prevailing party in the Federal or State Action.
5. Promise Not to Prosecute.
Inclan agrees, to the fullest extent permitted by law, that he will not prosecute or allow to
be prosecuted on his behalf, in any administrative agency or court, whether state or federal, any
Released Claim as set forth in Section 7. If any such action is brought, this Agreement will
constitute an Affirmative Defense thereto, and the prevailing party shall be entitled to recover
reasonable costs and attorneys fees incurred in prosecuting or defending against any Released
Claim brought pursuant to this Section 5.
2156/015610-0080 5
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6. Mutual Release.
Inclan for himself, all occupants of his Mobile Home, including without limitation any
members of his family or household, any co -tenants, guests, and sub -tenants, and any members
of any of their families or households (collectively, the "Occupants"), and his respective agents,
successors, assigns, and all entities related to any of the foregoing (but not including the
Remaining Plaintiffs, nor their agents, assigns, or any entities related to any of them in the
Federal Action or the State Action), and on behalf of all persons claiming any interest in the
Subject Space, Mobile Home or this Agreement (collectively the "Releasing Parties"),
irrevocably and absolutely release and discharge the Defendants, as well as any other present or
former employees, subsidiaries, officers, agents, consultants, attorneys, insurers, successors and
assigns of Defendants (collectively, the "Released Parties") from all of Inclan's claims related in
any way to the allegations set forth in the Federal Action or the State Action, including, but not
limited to, the facts and circumstances asserted therein, to the fullest extent permitted by law.
Defendants, their successors, assigns and all entities related to any of the foregoing
correspondingly irrevocably and absolutely release and discharge Inclan and his agents,
successors, assigns, entities related to any of the foregoing, employees, subsidiaries, officers,
consultants, attorneys, and insurers of Inclan from all counterclaims or other claims related in any
way to the allegations set forth in the Federal Action or the State Action, including, but not
limited to, the facts and circumstances asserted therein, to the fullest extent permitted by law. As
to the claims being released in the previous sentence, Inclan and the aforementioned successors,
assigns and related entities (but not including the Remaining Plaintiffs) shall be "Released
Parties" and the Defendants and the aforementioned successors, assigns and related entities shall
be "Releasing Parties." This release is intended to be interpreted broadly to apply to any and all
of Inclan's claims arising in connection with the facts alleged in the Federal Action and State
Actions, including, but not limited to, any and all losses, liabilities, claims, charges, demands and
causes of action, known or unknown, suspected or unsuspected, arising directly or indirectly out
of or in any way connected with the Federal Action or the State Action (collectively, "Released
Claims"); provided, however, that Released Claims shall not include or have an effect ,on the
Remaining Plaintiffs' claims for attorneys' fees in the Federal and State Actions, if applicable.
Except as otherwise provided, Released Claims include, without limitation, any of Inclan's
claims related to the allegations set forth in the Federal Action or State Action, including those
based in equity, tort, contract, common law, the state or federal Constitutions, state or federal
statutes including, without limitation, the California Fair Employment and Housing Act, the
California Civil Code, the California. Government Code, and Title VII of the Civil Rights Act of
1964, the Mobilehome Parks Act (Health & Safety Code §§ 18200 et seq.) and Mobilehome
Residency Law (Civil Code §§ 798 et seq.), the California Redevelopment Law (Health and
Safety Code §§ 33410 et seg•), the California Relocation Assistance Law (Government Code
§ 7260 et seq.) and the California Relocation Assistance and Real Property Acquisition
Guidelines (25 C.C.R. § 6000 et se . except for the provisions of 25 Cal. Code Regs. § 6156(d).
This release is intended to be interpreted to similarly apply to any of Defendants' counterclaims
or other claims referenced above. The releases and covenants not to sue granted in this
Agreement do not extend to, and nothing in this Agreement will be construed to limit, any
Party's rights to enforce this Agreement according to its terms.
2156/015610-0080 6
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7. Unknown or Different Facts.
Inclan and Defendants, acknowledge that they may discover facts or law different from,
or in addition to, the facts or law known or believed to exist with respect to a Released Claim.
The Releasing Parties, agree, nonetheless, that this Agreement and the releases contained in it
shall be and remain effective in all respects notwithstanding such different or additional facts or
law.
8. Transfer of Ownership of Mobile Home.
a. Document to Transfer Ownership. Inclan's title to the Mobile Home shall
be transferred contemporaneously with Inclan's execution of this Agreement. Inclan shall
execute and deliver to Agency concurrently with the execution and delivery of this
Agreement, a bill of sale in the form attached hereto as "Exhibit A" ("Bill of Sale") and
any such other and further documentation (including but not limited to a Notice of Sale or
Transfer in the form attached hereto as "Exhibit B") required by the Department of
Housing and Community Development ("HCD"), and/or other governmental agency, to
effectuate a transfer of ownership to Agency of the Mobile Home.
b. Registration Fees, Liens, and Encumbrances. Inclan hereby represents and
warrants that he is the actual and registered owner of the Mobile Home, free and clear of
any liens or encumbrances. If Inclan owes any fees, charges, fines or taxes due to HCD,
Agency shall pay such amounts due to HCD on Inclan's behalf and shall not deduct any
such payment from the Settlement Amount.
C. Payment of Sales Taxes and Transfer Fees. Agency shall pay all sales
taxes imposed by HCD on the sale of Mobile Home to Agency under this Agreement,
which shall not be deducted from the Settlement Amount.
d. Maintenance of Mobile Home. During the License term (described
below), Inclan shall not commit waste on the Mobile Home or Subject Space but shall
have no other maintenance obligations, including, for example replacement or restoration
of utilities, appliances or structures that fail as a result of normal wear and tear and are
caused by Inclan's gross negligence.
e. Risk of Loss. Until the License Termination Date (defined below), Inclan
shall be responsible for any risk of loss or damage to Inclan's personal property or
belongings or other property contained in the Mobile Home or located at the Subject
Space. Inclan shall maintain and keep in full force and effect, any insurance policies
currently insuring the contents of the Mobile Home, until said License Termination Date.
9. Delivery of Mobile Home.
Inclan shall effectuate delivery and transfer of title of the Mobile Home by any and all
means necessary, including, but not limited to the (i) transfer of keys and entry devices to Agency
(other than such keys and devices necessary to use the License), (ii) execution of any assignments
for the benefit of Agency, (iii) waiver of any laws or regulations that would prevent effective
2156/015610-0080 7
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Delivery to Agency, including waiver of the Mobilehome Parks Act (Health & Safety Code
§§ 18200 et seq.) and Mobilehome Residency Law (Civil Code §§ 798 et seg.) and (iv) execution
of any and all documents contemplated in Sections 2 and 8 of this Agreement in order to convey
ownership of the Mobile Home to the Agency.
10. Vacating the Property.
Except for the License granted below, Inclan shall vacate the Mobile Home and Property
and cause all Occupants of his Mobile Home to vacate the Property on or before the date this
Agreement is executed. Inclan shall leave the Property free and clear of any debris and shall
remove all personal property, including without limitation, any abandoned vehicles, appliances or
equipment by not later than the License Termination Date (defined below).
11. Limited License for Removing_ Personal Possessions and Property.
Commencing on the date that this Agreement is fully executed and all documents
required to be executed pursuant to this Agreement are fully executed, the Agency shall grant to
Inclan a license ("License") for the sole and exclusive purpose of removing personal belongings
and property and other property from the Mobile Home, the Subject Space or the Property on or
before the License Termination Date (defined below). The License granted hereunder shall
automatically terminate on or before March 31, 2005 (the "License Termination Date"). Inclan's
rights created by this License shall be non -transferable and can be utilized only by Inclan and the
Occupants.
During the License term the Agency shall not charge Inclan rent and Inclan shall have no
obligation to pay for utility services, provided that Inclan shall use only that amount of utility
services reasonably necessary to use the rights granted by the License.
Prior to the License Termination Date, Inclan shall remove all personal belongings,
possessions and property from the Mobile Home and the Subject Space and leave the Mobile
Home in a neat and clean condition. Inclan shall not remove any built-in appliances, cabinets,
floor coverings, draperies, or other built-in furniture or fixtures. Inclan shall not remove any
other item from the Mobile Home, if the removal of such item will affect the Mobile Home's
suitability for future use of a Mobile Home (as it is currently in use) or the Mobile Home's ability
to be mobile, portable and/or transportable. Inclan agrees and warrants that after the License
Termination Date, all personal property left in the Mobile Home, Subject Space or Property shall
become the property of Agency. On or prior to the License Termination Date, Inclan shall turn
over any keys he has retained -for the purpose of exercising the License.
Inclan acknowledges and agrees that the Defendants are not providing any indemnity or
insurance coverage that would extend to Inclan, the Occupants, Inclan's family or Inclan's'
belongings and personal property located in the Mobile Home, the Subject Space or the Property.
Inclan, on behalf of himself and the Occupants of his Mobile Home, his agents, family and
representatives, waives and releases the Defendants, and their employees and agents, from any
and all losses, liability, and claims for damages, including property damage, bodily injury, or
death, which arise from the condition, use, or occupancy of the Mobile Home, Subject Space or
2156/015610-0080 8
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Property during the License term, including, without limitation, damage, theft or vandalism to the
Mobile Home or the contents thereof, except to the extent such losses, liabilities, injuries,
damages, claims, and charges are caused by the Defendants' gross negligence or willful
misconduct. Should any claim be made against the Defendants, or their employees or agents for
damages, including property damage, bodily injury, or death, which arise from the condition, use,
or occupancy of the Mobile Home, the Subject Space or the Property, or occur in the Mobile
Home, Subject Space or Property, during the License term, then Inclan shall defend and
indemnify the Defendants and promptly pay any judgment rendered against them except to the
extent such losses, liabilities, injuries, damages, claims, and charges are caused by the
Defendants' gross negligence or willful misconduct.
12. Commissions.
Each Party represents and warrants that neither party has retained any brokers or finders
to represent its interests in connection with the sale of the Mobile Home.
13. Benefit of the Parties.
This Agreement is provided by the Parties for the sole benefit of the Parties and no other
person, firm, entity shall have any rights, whether express or implied, with respect to this
Agreement or the matters set forth herein.
14. No Personal Liability.
No officer, official, employee, agent, or representative of the Defendants shall be
personally liable for any amounts due hereunder, and no judgment or execution thereon entered
in any action hereon shall be personally enforced against any such officer, official, member,
employee, agent or representative.
15. Entire Agreement; Merger of Prior Agreements and Understandings.
This Agreement contains the entire understanding between the Parties relating to the
transaction contemplated by this Agreement. All prior or contemporaneous agreements,
understandings, representations and statements, oral or written, are merged in this Agreement and
shall be of no further force or effect.
16. Severability.
Should it be determined by a court that any term of this Agreement is unenforceable, that
term shall be deemed to be deleted. However, the validity and enforceability of the remaining
terms shall not be affected by the deletion of the unenforceable terms.
17. Modifications.
This Agreement shall be amended only by a written instrument, which specifically
indicates in its recitals that it is for the purpose of amending this Agreement, that is executed by
all Parties hereto.
2156/015610-0080 9
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18. Cooperation and Further Assurances.
The Parties agrees to do all things necessary and to execute all further documents
necessary and appropriate to carry out and effectuate the terms and purposes of this Agreement.
19. Interpretation; Construction.
The headings set forth in this Agreement are for convenience only and shall not be used
in interpreting this Agreement. This Agreement has been drafted by both Inclan's and
Defendants' legal counsel. The Parties acknowledge they have had an opportunity to review and
discuss each term of this Agreement with legal counsel and, therefore, the rule of construction
stating that any ambiguities are to be resolved against the drafting party is inapplicable and shall
not be employed in the interpretation of this Agreement.
20. Counterparts.
This Agreement can be executed in one or more counterparts, with the same force and
effect as if executed in one complete document.
21. Facsimile Signature Deemed Original.
This Agreement can be signed and delivered by facsimile transmission, and such
facsimile documents shall be deemed originals and binding upon the signatories upon receipt
(with transmission confirmed) by the Party to whom the facsimile transmission is sent.
21. Authority.
Each individual signing this Agreement warrants and represents that she/he has full
capacity and authority to execute the Agreement on whose behalf she/he so signed, as provided
by law. Defendants further warrant that they have the authority to execute this Agreement on
behalf of all named individual Defendants and of legislative bodies (the City Council and
Redevelopment Agency) and that this Agreement has been approved by the City Council and
Redevelopment Agency prior to the execution of the Agreement by Inclan.
22. Governing Law.
This Agreement is made and entered into in the State of California and shall, in all
respects, be interpreted, enforced and governed by and under the laws of the State of California.
23. Warranty.
Each of the Parties to this Agreement warrants that no promise or inducement has been
made or offered by any of the Parties, except as set forth herein, and that this Agreement is not
executed in reliance upon any statement or representation of any of the Parties or their
representatives, concerning the nature and extent of the injuries, damages or legal liability
therefore.
10
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24. Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the Parties hereto and
their respective, heirs, administrators, executors, trustees, successors and assigns, and each of.
them.
26. Advice of Counsel.
The Parties declare and represent that they fully understand this Agreement are, executing
this Agreement with full advice from legal counsel and without coercion by any party, that this
Agreement shall be complete and shall not be subject to any claim of mistake, and that the
releases herein express full and complete releases and, regardless of the adequacy or inadequacy
of the consideration, the Parties intend the releases herein to be final and complete. The Parties
execute this Agreement with the full knowledge that this Agreement covers all possible claims of
Inclan and all possible counterclaims or other claims of the Defendants stemming from or related
to the Federal and State Actions, to the fullest extent permitted by law.
[Signatures on the following pages]
2156/015610-0080 11
573058.07 a02/10/05
IN WITNESS WHEREOF, the Defendants, Plaintiff and their attorneys of record have
signed this Agreement on the date(s) set forth below.
Dated:
2005
Dated: 92005
Dated:
PLAINTIFF INCLAN
Mr. Alfredo Inclan
Cheri Miller, Attorney -in -Fact
APPROVED AS TO FORM:
CALIFORNIA RURAL LEGAL
ASSISTANCE, INC.
Arturo Rodriguez
Ilene J. Jacobs
Rita Luevanos-Castro
CALIFORNIA AFFORDABLE HOUSING
LAW PROJECT OF THE PUBLIC
INTEREST LAW PROJECT
Deborah Collins
Michael Rawson
WESTERN CENTER ON LAW AND
POVERTY
S. Lynn Martinez
Deanna R. Kitamura
Richard Rothschild
By
2005 Arturo Rodriguez, Attorneys for the Plaintiff
Inclan
[Signatures continued on next page]
2156/015610-0080 12
573058.07 a02/10/05
Dated: , 2005
ATTEST:
June S. Greek, City Clerk
APPROVED AS TO FORM:
M. Katherine Jenson, City Attorney
Dated: 52005
ATTEST:
June S. Greek, City Clerk
APPROVED AS TO FORM:
M. Katherine Jenson, Agency Counsel
DEFENDANTS
CITY OF LA QUINTA, a California charter
city and municipal corporation, City of La
Quinta City Council, Donald Adolph, Stanley
Sniff, Ron Perkins, Terry Henderson, and Lee
Osborne, in their official capacities as members
of the City Council,
Bv:
Thomas P. Genovese, City Manager
REDEVELOPMENT AGENCY OF THE
CITY OF LA QUINTA, a public body
corporate and politic, Donald Adolph, Stanley
Sniff, Ron Perkins, Terry Henderson, and Lee
Osborne, in their official capacities as directors
of the La Quinta Redevelopment Agency,
By:
Thomas P. Genovese, Executive Director
[Signatures continued on next page]
2156/015610-6080 13
573058.07 a02/10/05
THOMAS GENOVESE, in his official
capacities as City Manager and Executive
Director of the Redevelopment Agency,
Dated: 52005 By:
Thomas Genovese
APPROVED AS TO FORM:
RUTAN & TUCKER, LLP
M. KATHERINE JENSON
JOHN A. RAMIREZ
MICHAEL R.W. HOUSTON
Dated: , 2005 By:
John A. Ramirez
2156/015610-0080 14
573058.07 a02/10/05
EXHIBIT "A"
BILL OF SALE
[See Attached]
2156/015610-0080 15
573058.07 a02/10/05
STATE OF CALIFORNIA
BUSINESS, TRANSPORTATION AND HOUSING AGENCY°r`.
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
DIVISION OF CODES AND STANDARDS f a►` -
REGISTRATION AND TITLING PROGRAM
n
BILL OF SALE
SECTION I. DESCRIPTION OF UNIT
This unit is a (check one):
Manufactured Home/Mobitehome ❑ Commercial Coach ❑ Floating Home ❑ Truck Camper
The Decal (License) No.(s) of the unit is
The Trade Name of the unit. is:
The Serial No..(s) of the unit is:
SECTION 11. STATEMENT OF FACTS
For the sum of dollars ($ ) and'/or other valuable consideration in the
amount of , the receipt of which is hereby acknowledged, i/we did sell, transfer and deliver
to
Buyer
on the day of , 20 , my/our right title and interest in and to the above -
described unit.
SECTION HL; SELLER'S CERTIFICATI.ON
I/We certify under penalty of perjury under the laws of the State of California that the following is true and correct: (1) i/we are the
lawful owner(s) of the unit, and (2)'I/we have the right to sell it, and (3) I/we guarantee and will defend the title to the unit against
the claims and demands of any and.all persons arising prior to this date and (4) the unit is free of all liens and encumbrances, except
for the lienhotder shown below`, whose lien presently exists and has not been paid.
Executed on
Signature of Seller
at
city
Date
Signature of Setter Date
SECTION W. L.IENHOLDER'S INFORMATION
NOTE: The space below is NOT for liens created by the buyer in this transaction.
•Lienholder
Address
Stmet AAdress or A0. Box
K0473.1 (11100)
City
Statf
state zip Code
2156/015610-0080 16
573058.07 a02/10/05
EXHIBIT "B"
NOTICE OF SALE OR TRANSFER
[See Attached]
2156/015610-0080 17
573058.07 a02/10/05
STATE OF CALIFORNIA
BUSINESS, TRANSPORTATION AND HOUSING AGENCY
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
DIVISION OF CODES AND STANDARDS
REGISTRATION AND TITLING PROGRAM
WIITf U6"�
NOTICE OF SALE OR TRANSFER
SECTION 1. DESCRIPTION
OF UNIT
Decal Numbers
Serial Numbers
Trade Name
SECTION 11_ SALE
OR TRANSFE:a:lNFORMATION
For the sum of $ the receipt of which is hereby acknowledged, I/we did sell,
transfer and deliver to the purchaser/owner named below, on my/bur
Date of Transfer
right title and interest in the unit described above.
a�
SECTION 111.7 NAME OF PURCNASERINEW OWNER
Name:
Address:
I/we certify under penalty of pe jury under the laws of the State of California that:. 1') I/we are the lawful
owner(s) of the unit, and 2) Itwe have the right to sell it, and 3) ifwe guarantee and will defend the title to the
unit against the claims and demands of any and all persons arising prior to this date, and 4) the unit is free
of all liens and encumbrances, except for the lienhol.der shown below *, whose lien presently exists and has
not been paid..
Executed On at
Date CAy state
Signature of Seller:
Printed Name:
*Lienholder: Address:
HCD 470.8 (7/97)
2156/01 610-0080 18
573058. 7 a02/10/05
AGENDA CATEGORY:
y DATE: February 15
COUNCIL/RDA MEETING , 2005 BUSINESS SESSION.
CONSENT CALENDAR:
ITEM TITLE: Consideration of Mid -Year Budget Report
For Fiscal Year 2004/2005 STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Approve an increase of $2,326,110 in estimated property tax increment revenue.
Approve an increase of $2, 000, 000 in estimated investment interest revenue.
Approve an appropriation increase of $1,169,159 in pass through tax payments.
Approve a decrease in the Educational Relief Augmentation Fund (ERAF) expense account
of $219,272.
Approve a decrease of $1,200,000 in RDA CIP 1 funding.
Receive and file the Mid -Year Budget Report.
FISCAL IMPLICATIONS:
During the annual budget process staff estimates revenues and expenditures for the
Redevelopment Agency (RDA) and at mid -year reassesses those estimates, which are
through December 31 st. As a result of staff 's review, we are recommending the
following budget changes to the RDA Fiscal Year 04/05 budget:
Estimated tax increment revenues
Property taxes are adjusted to the tax roll information prepared by the County Auditor's
office which was received in early January. As a result of the tax roll information, the
property tax revenues for Project Area 1 and 2 are adjusted. For Fiscal Year 04/05 the
total tax increment revenues for Project Area 1 and 2 will increase by $2,326,1 10 to a
total of $49.1 million. For Project Area 1 property tax increments increased by12% and
for Project Area 2 property tax increments increased 16.5%.
Estimated interest income revenues
The 2004 Housing Bond issue was finalized in late June 2004 after the Fiscal Year 04/05
budget was prepared. As a result, $57 million in bond proceeds was received by the
Agency for low and moderate housing projects which is projected to generate
$1,000,000 in interest.
RDA Project Area 1 Capital Improvement Project — Taxable and Project Area 2 Capital
Improvement Project are projected to generate $50,000 each based upon remaining cash
balances in the project funds held by the fiscal agent.
RDA Project Area 1 Capital Improvement Project is projected to generate $150,000 in
interest from pooled cash investments and $750,000 from remaining cash balances in the
project funds held by the fiscal agent.
Additional pass through appropriations requested
As a result of the increased tax increment, the Agency is required to pass through, or pay
to other taxing entities that operate in the Project Area, tax increment funds based upon
negotiated or statutory agreements. Since the tax increment will increase, these pass
through amounts will increase by $1,169,159 to a total of $23.7 million.
Reduction in ERAF shift appropriation
During the Fiscal Year 04/05 budget process the ERAF shift was budgeted at
$3,000,000. This mechanism was used by the State in the early 1990's and again in
Fiscal Year 02/03, Fiscal Year 03/04, Fiscal Year 04/05 to mandate Redevelopment
Agencies state-wide to transfer funding from the RDAs to the State to balance the State
budget. This shift will occur next fiscal year (Fiscal Year 05/06) as well. The Fiscal Year
04/05 and Fiscal Year 05/06 State budgets mandate that $250 million be transferred
State-wide from all RDAs to the State, of which the La Quinta RDA portion is
$2,780,728 for Fiscal Year 04/05 and a similar amount for Fiscal Year 05/06.
The ERAF shift is calculated by the State Department of Finance based upon the financial
activities of the RDA two years ago. The formula is to allocate $125.0 million (or half) of
the $250 million, based upon the La Quinta RDA Tax Increment, to the State-wide totals
and the other $125.0 million based upon the amount collected net of pass throughs. As
a rule of thumb, the La Quinta RDA percent is a little more than 1 % ($2,780,728) of the
$250 million.
K
The ERAF shift is required to be paid to the County Auditor by May 10" or it will be
withheld by the County Auditor in the 2"d County tax distribution at the end of May.
From Fiscal Year 02/03 through Fiscal Year 04/05, $5 million has been sent to the State
via the ERAF shift that would otherwise have gone for eligible capital projects within the
City of La Quinta with another $3 million estimated to be sent in Fiscal Year 05/06.
Re -appropriation of RDA Project Area 1 funding for City Library
The present library budget of $7.7 million dollars contains $1.2 million in RDA CIP 1
funding. Staff has updated the forecast for the Library Fund and identified $1.2 million
available in this fund that can be appropriated toward the Library instead of the RDA CIP
1 fund. The $1.2 million would then go back into unallocated reserves and could be used
for other projects.
BACKGROUND AND OVERVIEW:
A comprehensive report is prepared annually at mid -year to inform the Agency Board, for
their consideration, of any changes in the financial position of the Agency.
The Mid -Year Budget Report involves a financial assessment of Agency operations.
This report provides information on the RDA revenues, operations, capital projects and
requests for budget transfers and/or new appropriations.
The majority of the tax increment revenue for the RDA is received from the County in
January and May; therefore, actual tax increment revenues have not been received to
date.
The earned tax increment equals the 50% benchmark. Provided as part of Attachment 3
is the revenue and expenditure detail for the RDA.
The budget amounts have been adjusted to reflect the latest data from the County
Auditor/Controller's office.
The following table reflects the mid -year tax increment requested additions and reports
that an increase of $4,015,578 in tax increment from prior year actual collections.
3
REDEVELOPMENT AGENCY TAX INCREMENT REVENUE SUMMARY
Estimated
04/05
Year End
03/04
12/31/04
12/31/04
Year End
Variance
Year End
Percent
Change
Description
Budget
YTD
Actual
%
Earned
Estimate
over
under
Actual
Change
$
PA #1
Debt Service
$25,923,915
$0
0.00%
$12,961 958
$25,923,915
$0
$23,966,954
8.17%
$1,956,961
Low/Moderate Tax
Increment
6,480,979
0
0.00%
3,240,490
6,480,979
0
5,991,739
8.17%
489,240
Total Tax Increment
32,404,894
0
0.00%
16,202,447
32,404,894
0
29,958,693
8.17%
2,446,201
PA #2
Debt Service
13,382,173
0
0.00%
6,691,087
13,382,173
0
12,126,671
10.35%
1,255,502
Low/Moderate Tax
Increment
3,345,543
0
0.00%
1,672,772
3,345,543
0
3,031,668
10.35%
313,875
Total Tax Increment
16,727,716
0
0.00%
8,363,858
16,727,716
0
15,158,339
10.35%
1,569,377
Totals
$49,132,610
$0
0.00%
$24,566,305
$49,132,610
$0
$45,117,032
8.90%
$4,015,578
Project Area No. 1 estimated revenues exceed prior year collected revenues by
$2,446,201 and by $1,569,377 for Project Area No. 2.
Staff is proposing additional revenues and appropriation changes in Redevelopment
Project Area Nos. 1 & 2 based upon the following:
• Updated tax increment estimates;
• Updated investment earnings forecasts;
Through payments affected by updated tax increment estimates;
• Updated Educational Relief Augmentation Fund (ERAF) shift estimates; and
• Updated revenue forecasts in the Library fund.
The proposed additional revenues and appropriations are as follows:
4
Mid -Year Budget Appropriations
REDEVELOPMENT AGENCY TAX ADDITIONAL REVENUE AND APPROPRIATIONS
Revenues
Expenditures
Expenditure
s
Expenditures
Pass Through
ERAF
Fund
Agreements
Shift
Subtotal
Net
Project Area 1
Debt Service
$938,515
$380,567
($219,272)
$161,295
$777,220
RDA 1 Capital Improvement Project
900,000
(1,200,000)
(1,200,000)
2,100,000
RDA 1 Capital Improvement Project -
Taxable
50,000
0
50,000
Low and Moderate Income
234,679
0
234,679
2,123,194
(819,433)
(219,272)
(1,038,705)
3,161,899
Project Area 2
Debt Service
922,373
788,592
0
788,592
133,781
RDA 2 Capital Improvement Project
50,000
0
50,000
2004 Housing Bond
1,000,000
0
1,000,000
Low and Moderate Income
230,543
0
230,543
2,202,916
788,592
0
788,592
1,414,324
Total
$4,326,110
($30,841)
($219,272)
($250,113)
$4,576,223
These proposed adjustments will result in an estimated increase in net revenues of
$3,161,899 in Project Area No. 1 and an increase in net revenues of $1,414,324 in
Project Area No. 2.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Redevelopment Agency Board include:
1. Approve an increase of $2,326,1 10 in estimated property tax increment
revenue; and
2. Approve an increase of $2,000,000 in estimated investment interest revenue;
and
3. Approve an appropriation increase of $1,169,159 in pass through tax
payments; and
4. Approve a decrease in the Educational Relief Augmentation Fund (ERAF)
expense account of $219,272; and
5. Approve a decrease of $1,200,000 in RDA CIP 1 funding; and
5
6. Receive and file the Mid -Year Budget Report.
7. Provide staff with alternative direction
Respectfully submitted,
fJohnM. Falconer, Finance Director
Approved for submission by:
Thomas P . Genovese, Executive Director
Attachment: 1. Mid -Year review budget worksheet
2. Mid -Year review budget detail
3. RDA Revenue and Expenditures through December 31,2004
0
ATTACHMENT
La Quinta Redevelopment Agency
Mid -Year Review Budget Worksheet
Estimated Revenues
Summary by Fund:
Tax Increment
Interest
Total
RDA PA 1 Debt Service Fund
$ 938,515
$ 938,515
RDA PA 2 Debt Service Fund
922,373
922,373
RDA PA 1 Low Mod Fund
234,679
234,679
RDA PA 2 Low Mod Fund
230,543
230,543
RDA 2004 Housing Bond Fund
1,000,000
1,000,000
RDA PA 1 Capital Improvement Project
900,000
900,000
RDA PA 1 Capital Improvement Project - Taxable
50,000
50,000
RDA PA 2 Capital Improvement Project
50,000
50,000
Subtotal
1 $ 2,326,110
t $ 2,000,000
1 $ 4,326,110
Appropriations
Summary by Fund:
Pass Through
ERAF
Ca ital Pro'
Total
RDA PA 1 Debt Service Fund
$ 380,567
$ (219,272)
$ 161,295
RDA PA 2 Debt Service Fund
788,592
788,592
RDA PA 1 Low Mod Fund
-
RDA PA 2 Low Mod Fund
-
-
RDA 2004 Housing Bond Fund
-
RDA PA 1 Capital Improvement Project
(1,200,000)
(1,200,000)
RDA PA 1 Capital Improvement Project - Taxable
-
RDA PA 2 Capital Improvement Project
-
-
-
Subtotal
$ 1,169,159
1 $ 219,272
$ 1,200,000
$ 250,113
Change by Fund
Summary by Fund:
Revenues
Appropriations
Net
RDA PA 1 Debt Service Fund
$ 938,515
$ 161,295
$ 777,220
RDA PA 2 Debt Service Fund
922,373
788,592
133,781
RDA PA 1 Low Mod Fund
234,679
-
234,679
RDA PA 2 Low Mod Fund
230,543
-
230,543
RDA 2004 Housing Bond Fund
1,000,000
-
1,000,000
RDA PA 1 Capital Improvement Project
900,000
(1,200,000)
2,100,000
RDA PA 1 Capital Improvement Project - Taxable
50,000
-
50,000
RDA PA 2 Capital Improvement Project
50,000
-
50,000
Subtotal
1 $ 4,326,110
$ 250,113
$ 4,576,223
ATTACHMENT 2
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ATTACHMENT 3
LA QUINTA REDEVELOPMENT AGENCY
REMAINING
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
PROJECT AREA NO. 1:
LOW/MODERATE BOND FUND:
Allocated Interest
0.00
0.00
0.00
Home Sale Proceeds
0.00
0.00
0.00
Non Allocated Interest
0.00
0.00
0.00
Transfer In
0.00
0.00
0.00
TOTAL LOW/MOD BOND
0.00
0.00
0.00
LOW/MODERATE TAX FUND:
Tax Increment
6,246,300.00
0.00
6,246,300.00
Tax Increment - mid year
234,679.00
0.00
234,679.00
Allocated Interest
20,800.00
0.00
20,800.00
Non Allocated Interest
0.00
3,976.04
(3,976.04)
Miscellaneous revenue
0.00
0.00
0.00
Non Allocated Interest
0.00
0.00
0.00
LQRP-Rent Revenue
341,000.00
142,344.00
198,656.00
Home Sales Proceeds
165,000.00
240,787.59
(75,787.59)
Sale of Land
660,000.00
0.00
660,000.00
Sewer Subsidy Reimbursements
0.00
46,961.48
(46,961.48)
Rehabilitation Loan Repayments
0.00
84,759.76
(84,759.76)
2nd Trust Deed Repayment
0.00
746,999.75
(746,999.75)
Transfer In
0.00
0.00
0.00
TOTAL LOW/MOD TAX
7,667,779.00
1,265,828.62
6,401,950.38
DEBT SERVICE FUND:
Tax Increment
24,985,400.00
0.00
24,985,400.00
Tax Increment - mid year
938,515.00
0.00
938,515.00
Allocated Interest
66,000.00
38,922.60
27,077.40
Non Allocated Interest
0.00
0.00
0.00
Interst - County Loan
0.00
0.00
0.00
Interest Advance Proceeds
0.00
0.00
0.00
Transfers In
2,478,347.00
511,141.52
1,967,205.48
TOTAL DEBT SERVICE
28,468,262.00
550,064.12
27,918,197.88
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
Pooled Cash Allocated Interest
0.00
70,460.46
(70,460.46)
Pooled Cash Allocated Interest
150,000.00
0.00
150,600.00
Non Allocated Interest
0.00
244,405.01
(244,405.01)
Non Allocated Interest
750,000.00
0.00
750,000.00
Litigation Settlement Revenue
0.00
0.00
0.00
Loan Proceeds
0.00
0.00
0.00
Rental income
0.00
0.00
0.00
Transfers In
0.00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
900,000.00
314,865.47
585,134.53
CAPITAL IMPROVEMENT FUND - TAXABLE
Pooled Cash Allocated Interest
0.00
0.00
0.00
Non Allocated Interest
0.00
36,628.39
(36,628.39)
Non Allocated Interest
50,000.00
0.00
50,000.00
Litigation Settlement Revenue
0.00
0.00
0.00
Bond proceeds
0.00
0.00
0.00
Rental Income
0.00
0.00
0.00
Transfers In
0.00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
50,000.00
36,628.39
13,371.61
10
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO. 1:
LOW/MODERATE BOND FUND
LOWIMODERATE TAX FUND:
DEBT SERVICE FUND:
CAPITAL IMPROVEMENT FUND:
PERSONNEL
SERVICES
REIMBURSEMENT TO GEN FUND
HOUSING PROJECTS
TRANSFERS OUT
TOTAL LOWIMOD BOND
07101/2004-12131104 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
3,657.70
0.00
1,242.30
SERVICES
253,157.00
65,445.09
0.00
187,711.91
BUILDING HORIZONS
250,000.00
75,000.00
0.00
175,000.00
LQ RENTAL PROGRAM
150,000.00
125,178.73
0.00
24,821.27
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
77,591.04
0.00
198,819.96
LQ HOUSING PROJECTS
500,000.00
265,000.00
0.00
235,000.00
REIMBURSEMENT TO GEN FUND
668,272.00
334,136.02
0.00
334,135.98
TRANSFERS OUT
2,478,347.00
511,141.52
0.00
1,967,205.48
TOTAL LOWIMOD TAX
8,099,327.00
1,522,150.10
0.00
6,577,176.90
SERVICES
496,585.00
18,467.99
0.00
478,117.01
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
476,382.00
0.00
476,382.00
PASS THROUGH PAYMENTS
11,903,406.00
726,113.75
0.00
11,177,292.25
PASS THROUGH PAYMENTS
380,567.00
0.00
0.00
380,567.00
ERAF SHIFT
3,000,000.00
0.00
0.00
3,000,000.00
ERAF SHIFT
(219,272.00)
0.00
0.00
(219,272.00)
TRANSFERS OUT
1,995,101.00
511,141.52
0.00
1,483,959.48
TOTAL DEBT SERVICE
28,834,120.00
8,118,761.39
0.00
20,715,358.61
PERSONNEL
4,900.00
3,112.55
0.00
1,787.45
SERVICES
116,393.00
52,040.31
0.00
64,352.69
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
16,584.95
0.00
33,415.05
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
163,471.52
0.00
232,541.48
TRANSFERS OUT
39,278,614.00
6,892,326.72
0.00
32,386,287.28
TRANSFERS OUT
(1,200,000.00)
0.00
0.00
(1,200,000.00)
TOTAL CAPITAL IMPROVEMENT
38,685,920.00
7,134,036.05
0.00
31,551,883.95
CAPITAL IMPROVEMENT FUNDITAXABLE BOND
BOND ISSUANCE COSTS 0.00 0.00 0.00 0.00
TRANSFERS OUT 5,778,816.00 5,001,286.67 0.00 777,529.33
TOTAL CAPITAL IMPROVEMENT 5,778,816.00 5,001,286.67 0.00 777,529.33
11
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO.2:
LOW/MODERATE BOND FUND:
Allocated Interest
Non Allocated Interest
Bond proceeds (net)
Transfer In
TOTAL LOW/MOD BOND
LOWIMODERATE TAX FUND:
Tax Increment
Tax Increment - mid year
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 LOW/MODERATE BOND FUND:
Allocated Interest
Allocated Interest
Home Sale Proceeds
Non Allocated Interest
Transfer In
TOTAL LOW/MOD BOND
DEBT SERVICE FUND:
Tax Increment
Tax Increment - mid year
Allocated Interest
Non Allocated Interest
Interest Advance Proceeds
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
Allocated Interest
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
230,543.00
0.00
230,543.00
24,100.00
21,572.47
2,527.53
0.00
0.00
0.00
7,054,074.00
7,096,293.56
(42,219.56)
0.00
159,973.31
(159,973.31)
0.00
251,392.95
(251,392.95)
0.00
0.00
0.00
801,358.00
801,359.00
(1.00)
0.00
0.00
0.00
11,225,075.00
8,330,591.29
2,894,483.71
0.00
0.00
0.00
1,000,000.00
0.00
1,000,000.00
0.00
0.00
0.00
0.00
493,935.77
(493,935.77)
0.00
0.00
0.00
1,000,000.00
493,935.77
506,064.23
12,459,800.00
0.00
12,459,800.00
922,373.00
0.00
922,373.00
0.00
25,997.32
(25,997.32)
0.00
(5.35)
5.35
0.00
0.00
0.00
4,099,819.00
3,401,994.57
697,824.43
17,481,992.00
3,427,986.54
14,054,005.46
0.00
18,856.70
(18,856.70)
50,000.00
0.00
50,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
50,000.00
18,856.70
31,143.30
REMAINING
BUDGET RECEIVED BUDGET
196,695,784.68 61,857,304.51 134,838,480.17
12
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO.2:
07/0112004.12/31104 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
LOW/MODERATE BOND FUND
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
0.00
0.00
LOW/MODERATE TAX FUND:
PERSONNEL
2,900.00
1,883.60
0.00
1,016.40
SERVICES
1.92,088.00
196,641.54
0.00
(4,553.54)
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
143,195.17
0.00
(143,195.17)
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
150,000.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
333,272.00
166,635.98
0.00
166,636.02
TRANSFERS OUT
7,350,044.00
6,026,689.33
0.00
1,323,354.67
TOTAL LOW/MOD TAX
13,397,746.00
6,741,772.32
0.00
6,655,973.68
2004 LOW/MODERATE BOND FUND
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
1,920,965.00
50,048.20
0.00
1,870,916.80
TOTAL LOW/MOD BOND
1,920,965.00
50,048.20
0.00
1,870,916.80
DEBT SERVICE FUND:
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
729,786.00
0.00
323,794.00
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
PASS THROUGH PAYMENTS
788,592.00
0.00
0.00
788,592.00
TRANSFERS OUT
994,948.00
264,904.01
0.00
740,043.99
TOTAL DEBT SERVICE
14,039,974.00
1,245,332.51
0.00
12,794,641.49
CAPITAL IMPROVEMENT FUND:
PERSONNEL
2,900.00
2,212.78
0.00
687.22
SERVICES
117,820.00
35,648.22
0.00
82,171.78
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
20,722.48
0.00
20,720.52
TRANSFERS OUT
1,426,079.00
(28,891.92)
0.00
1,454,970.92
TOTAL CAPITAL IMPROVEMENT
1,628,492.00
33,191.56
0.00
1,595,300.44
13
Expenditures
07/01/2004-12/31104
REMAINING
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
Grand TOTAL
247,546,747.36
62,307,880.07
76,757.57
185,162,109.72
City
25,676,881.00
9,054,399.37
28,972.63
16,593,509.00
Other Funds
105,748,551.36
22,085,488.28
47,784.94
83,615,278.14
Financing Authority
3,735,955.00
1,321,413.62
0.00
2,414,541.38
RDA 1
81,398,183.00
21,776,234.21
0.00
59,621,948.79
RDA 2
30,987,177.00
8,070,344.59
0.00
22,916,832.41
Total
247,546,747.36
62,307,880.07
76,757.57
185,162,109.72
Total Per G/L
Variance 247,546,747.36 62,307,880.07 76,757.57 185,162,109.72
Total Mid Year Requests
14
T 0
df 444"
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: February 15, 2005
BUSINESS SESSION:
ITEM TITLE: Consideration of SilverRock Resort Budget
Status Report CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Appropriate $1.2 million from Redevelopment Project Area Number 1 Reserves and
$400,000 from Redevelopment Project Area Number 2 Reserves to the SilverRock
Resort Project 2002-071.
FISCAL IMPLICATIONS:
Proposed midyear budget adjustments result in Redevelopment Project Reserves of
$1.2 million and $400,000 in Project Areas 1 and 2 respectively. Allocation of these
reserves to the SilverRock Resort project will allow for project improvements to
include:
• Storm drainage improvements (Ave.52, et. al.) $ 465,000
• Additional lighting/bollards along entry road $ 111,500
• Signage and lighting (additional) $ 150,000
• Water (restrained joints per CVWD) $ 265,000
• Miscellaneous golf course changes/contingency $ 608,500
BACKGROUND AND OVERVIEW:
The Arnold Palmer Classic Course at SilverRock is scheduled to open for play on
February 14, 2005. Staff has been working to reconcile the project budget and
expenditures consistent with prior Agency authorizations and project requirements.
Attachment 1 provides a detailed summary of this reconciliation as of this date.
The first page of Attachment 1 provides a cost detail by budget line item. The
columns listed include:
• Cost Detail: Identifies the project line item
• Line Item: Identifies the budget category (i.e., p = professional services, c =
construction, etc.)
• Code: A numeric tracking code for each line item
• Original Budget 1: The project budget adopted in October 2003
• Current Budget 2: The budget as revised by Agency action
• Contract: The contract award, in some cases pro -rated, by staff
• Change orders: Changes authorized to the contract award
• Phase 2: Reserves for Phase 2 projects
• Subtotal: Contract + Change Orders + Phase 2
• Anticipated Needs: Additional estimated funds needed for project completion
• Total: Subtotal plus Needs
• Available: Budget less Total = estimated project requirements
• November 2004: Represents project status per November report to Agency
• Change: Represents changes from November 2004 to date
Each of the itemized line items is supported by additional detail, some of which has
been included within the attachment. Additional supporting detail, down to individual
invoices, is available within the Finance and Public Works Departments at City Hall.
Original Budget
The "Original Budget" of $90,444,178 was approved by the Agency in October 2003.
This budget was recommended by staff utilizing input available at the time from
consulting agents, including The Keith Companies, Berryman and Henigar, RSG and
GMA International (subconsultants MDS Engineering, Palmer Course Design Company,
Chapman Golf Development and PACE). This budget authorization is represented
within the "Original Budget 1 It
column on page 1 of Attachment 1. Subsequent
budget modifications increased this budget appropriation to $94,473,196, with the
most recent modification occurring in November 2004.
0�
Budget Challenges
The Agency has encountered numerous budget challenges throughout the course of
the project. These challenges have resulted from project modifications and
enhancements; contract bids exceeding engineering estimates; change orders; delays
(permitting, contractor and utility delays); and storm damage. The itemized and
aggregate costs of the aforementioned can be identified by comparing the "Total"
column to the "Original Budget" column of Attachment 1. Current "needs" estimated
to complete the project, if the Avenue 52 drainage project is included, total $774,178.
Staff has become aware, however, of additional claims from contractors totaling
approximately $1.7 million that require analysis and response. These claims allege
additional contract costs due to delays and "accelerated scheduling" and are being
reviewed by the Development Coordinator, Construction Manager and staff.
Project Modifications
Project modifications and enhancements within the project include:
• Temporary clubhouse kitchen
$ 330,000
• Entry monument (not including landscaping) $ 933,000
• Entry monument/roundabout signage $ 300,000
• Perimeter wall (estimate value vs. fence) $ 910,000
• Hotel pads $ 700,000
Other project design decisions resulted in expenses well beyond the original budget.
For example, the Village Lake(s) actually includes a complex of three separate lakes
with water features that should prove beneficial to prospective resort/retail
development and add significant value to the adjacent pads. The cost of this lake
complex approaches $2.6 million, while the original budget was $1 million. The
budget estimates for the temporary clubhouse, maintenance building and restrooms
were approximately half the actual expense ... the result of enhanced design features
coupled with a very tight bid market.
Each of the aforementioned costs have been considered and approved by the Agency
in consideration of expected value and available project and/or Agency reserves. The
use of project reserves for enhancements, however, resulted in limited reserves for
project change orders and other unexpected costs (i.e., the backup well is now
expected to cost nearly twice the original estimate of $200,000). Staff is prepared to
discuss each of the aforementioned project modifications as deemed appropriate by the
Agency.
3
Major Construction Contracts
Contracts totaling approximately $32 million have been awarded to date with approved
change orders totaling approximately $3.4 million (or, 10.6%). Major contractors have
included Wood Brothers (mass grading); Weitz Golf (golf course shaping and
construction); Davis Reed Construction (vertical construction of clubhouse, restrooms,
maintenance buildings and irrigation pump house); Pacific Hydrotech (site
improvements including parking lots for clubhouse and maintenance building);
Parkwest Landscape (perimeter berms, walls, landscaping, sidewalk and multi -use
trails) and Granite Construction (perimeter roads and utilities and entry roads). These
contracts have been pro -rated within the Cost Detail by Budget Line Item of
Attachment 1 (page 1) . Supplemental sheets of Attachment 1 include a breakdown of
each contract's cost allocation.
Completion of Phase 1 Improvements
The Palmer Classic Course at SilverRock and driving range opened for public play on
February 14, 2005. In addition to the golf course and driving range, all vertical
construction is nearing completion. Similarly, the entry monument is nearing
completion, while perimeter improvements are estimated at 40% complete. The
balance of the site has been graded to include future hotel and retail pads adjacent to
the Village Lake(s). Additionally, the casita pad within the Classic Course envelope has
been graded.
There remain additional tasks, however, that would require additional funding at the
Agency's discretion. These include:
• Storm drainage improvements ($465,000): Recent storms demonstrated that
storm flows onto the site from the Rondo Channel exceed the amount
anticipated pursuant to the City's original drainage plan. Accordingly, the
course's fourth fairway flooded. PACE engineers have reviewed the design and
recommend that a drainage pipe be extended along Avenue 52 to the Phase 2
project to better distribute the hydraulic loading of the site.
• Additional lighting/bollards along the entry road ($1 1 1,500). Staff recommends
that additional lighting be provided as a safety measure along the entry road.
Design alternatives are under review, but preliminary budgetary estimates
suggest a cost of $1 1 1, 500.
• Entry signage and lighting ($150,000 additional). GMA International is
preparing bid specifications for the approved signage at the Avenue 52 entry
and roundabout. The original estimate for this signage was $150,000. Current
estimates suggest the actual sign costs, including lighting, may approach
$ 300, 000.
• Water ($265,000 for restrained joints per CVWD requirements). The Agency
previously authorized this work utilizing project contingencies. Specific
appropriation for this enhancement under Granite's contract would allow a
4
replenishment of project contingencies for timely completion of perimeter
improvements.
• Miscellaneous golf course changes/contingency ($608,000). Staff is working
with Weitz Golf on a number of miscellaneous course modifications in response
to recent visits by the architect, and Hope Classic and PGA officials (additional
modifications may be proposed as part of Landmark's operating improvements).
Any additional unspent contingencies would be available for pending claims as
deemed appropriate.
Staff recommends that the Agency appropriate available Redevelopment Project
Reserves for the aforementioned project enhancements.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency include:
1. Appropriate $1.2 million from Redevelopment Project Area Number 1 Reserves
and $400,000 from Redevelopment Project Area Number 2 Reserves to the
SilverRock Resort Project 2002-071; or
2. Do not appropriate $1.2 million from Redevelopment Project Area Number 1
Reserves and $400,000 from Redevelopment Project Area Number 2 Reserves
to the SilverRock Resort Project 2002-071; or
3. Provide staff with alternative direction.
Respectfully submitted,
Mark Weiss, Assistant Executive Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachment: 1. Cost detail by project line item
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