2005 10 18 RDA60#44adja
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 auinta, California 92253
Regular Meeting
Tuesday, October 18, 2005
2:00 p.m.
Beginning Resolution No. RA 2005-011
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'S LEGAL COUNSEL PURSUANT TO GOVERNMENT
CODE SECTION 54956.9(c) INITIATION OF LITIGATION (ONE MATTER -
COMPLAINT AGAINST VERIZON)
Redevelopment Agency Agenda 1 October 18, 2005
2. CONFERENCE WITH AGENCY'S LEGAL COUNSEL PURSUANT TO GOVERNMENT
CODE SECTION 54956.9(a) REGARDING PENDING LITIGATION, LA QUINTA
REDEVELOPMENT AGENCY V. KSL DESERT RESORTS, INC., RIVERSIDE SUPERIOR
COURT CASE NO. INC 044676.
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 THE MEETING OF OCTOBER 4, 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 OCTOBER 18, 2005.
2. TRANSMITTAL OF TREASURER'S REPORT FOR THE PERIOD ENDING AUGUST 31,
2005.
3. TRANSMITTAL OF REVENUE AND EXPENDITURE REPORTS FOR THE PERIOD
ENDING AUGUST 31, 2005 AND INVESTMENT SUMMARY REPORT FOR THE
QUARTER ENDING SEPTEMBER 30, 2005.
BUSINESS SESSION - NONE
Redevelopment Agency Agenda 2
October 18, 2005 '" 0.
STUDY SESSION - NONE
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS - NONE
ADJOURNMENT
Adjourn to a regularly scheduled meeting of the Redevelopment Agency to be held on
November 1, 2005, 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 October 18, 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, October
14, 2005.
DATED: October 14, 2005
JUNE S. GREEK, CIVIC, City Clerk
City of La Quinta, California
061
Redevelopment Agency Agenda 3 October 18, 2005
tea, 4 46Q"
AGENDA CATEGORY:
BUSINESS SESSION
COUNCIL/RDA MEETING DATE: OCTOBER 18, 2005
CONSENT CALENDAR
ITEM TITLE:
Demand Register Dated October 18, 2005
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
STUDY SESSION
PUBLIC HEARING
Receive and File the Demand Register Dated October 18, 2005 of which $244,199.45
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
n
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Twyl 4 x4p Qabtraj
COUNCIL/RDA MEETING DATE: October 18, 2005
ITEM TITLE:
Transmittal of Treasurer' s Report
as of August 31, 2005
RECOMMENDATION:
It is recommended the La Quinta Redevelopment Agency:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Treasurer' s Report dated August 31, 2005.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
GCf,5
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OF
,9
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: October 18, 2005
ITEM TITLE: Transmittal of Revenue and
Expenditure Report dated August 31, 2005
and Investment Summary Report for the
Quarter Ending September 30, 2005
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IM PLICATIONS:
None.
BACKGROUND AND OVERVIEW:
BUSINESS SESSION:
CONSENT CALENDAR: 3
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the August 31, 2005 Statement of Revenue and Expenditures for the La
Quinta Redevelopment Agency and Investment Summary Report for the Quarter Ending
September 30, 2005.
Re ectf submitted,
JdbnJA. Falconer, Finance Director
Approved for submission
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, August 31, 2005
2. Investment Summary Report for the Quarter Ending September 30, 2005
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
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
6,675,400.00
53,317.77
6,622,082.23
50,900.00
0.00
50,900.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
276,000.00
47,412.00
228,588.00
150,000.00
347,927.05
(197,927.05)
0.00
0.00
0.00
0.00
24,791.92
(24,791.92)
0.00
1,290.26
(1,290.26)
0.00
0.00
0.00
0.00
0.00
0.00
7,152,300.00
474,739.00
6,677,561.00
26,701,600.00
165.86
26,701,434.14
93,100.00
0.59
93,099.41
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3,945,802.00
0.00
3,945,802.00
30,740,502.00
166.45
30,740,335.55
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
Pooled Cash Allocated Interest
12,500.00
0.00
12,500.00
Non Allocated Interest
500,000.00
146,251.38
353,748.62
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
512,500.00
146,251.38
366,248.62
CAPITAL IMPROVEMENT FUND - TAXABLE
Pooled Cash Allocated Interest
0.00
0.00
0.00
Non Allocated Interest
0.00
0.00
0.00
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
0.00
0.00
0.00
2
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
LOW/MODERATE 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
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
3,445,900.00
1.61
3,445,898.39
275,300.00
0.00
275,300.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
8,420.38
(8,420.38)
0.00
112,097.40
(112,097.40)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3,721,200.00
120,519.39
3,600,680.61
0.00
0.00
0.00
0.00
0.00
0.00
1,418,400.00
168,426.84
1,249,973.16
0.00
0.00
0.00
1,418,400.00
168,426.84
1,249,973.16
DEBT SERVICE FUND:
Tax Increment
13,783,600.00
6.43
13,783,593.57
Allocated Interest
0.00
0.00
0.00
Non Allocated Interest
0.00
0.00
0.00
Interest Advance Proceeds
0.00
0.00
0.00
Transfer In
1,706,754.00
0.00
1,706,754.00
TOTAL DEBT SERVICE
15,490,354.00
6.43
15,490,347.57
CAPITAL IMPROVEMENT FUND:
Allocated Interest
37,100.00
0.00
37,100.00
Non Allocated Interest
0.00
0.00
0.00
Developer Agreement
0.00
5,120,062.12
(5,120,062.12)
Transfers In
0.00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
37,100.00
5,120,062.12
(5,082,962.12)
US
3
LA QUINTA REDEVELOPMENT AGENCY 07/01/2005 - 08/31105 REMAINING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
PROJECT AREA NO. 1:
LOW/MODERATE BOND FUND
PERSONNEL
0.00
0.00
0.00
0.00
SERVICES
0.00
0.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
0.00
0.00
0.00
0.00
HOUSING PROJECTS
0.00
0.00
0.00
0.00
TRANSFERS OUT
0.00
0.00
0.00
0.00
TOTAL LOWIMOD BOND
0.00
0.00
0.00
0.00
LOW/MODERATE TAX FUND:
PERSONNEL
4,900.00
794.79
0.00
4,105.21
SERVICES
265,405.00
5,248.00
0.00
260,157.00
BUILDING HORIZONS
125,000.00
0.00
0.00
125,000.00
LQ RENTAL PROGRAM
332,000.00
53,991.08
0.00
278,008.92
LQ HOUSING PROGRAM
320,000.00
0.00
0.00
320,000.00
LOWMOD VILLAGE APARTMENTS
400,000.00
0.00
0.00
400,000.00
2nd TRUST DEED PROGRAM
3,298,340.00
0.00
0.00
3,298,340.00
LQRP - REHABILITATION
0.00
0.00
0.00
0.00
APT REHABILITATION
136,000.00
0.00
0.00
136,000.00
FORECLOSURE
150,000.00
0.00
0.00
150,000.00
REIMBURSEMENT TO GEN FUND
679,574.00
113,262.30
0.00
566,311.70
TRANSFERS OUT
3,945,802.00
0.00
0.00
3,945,802.00
TOTAL LOW/MOD TAX
9,657,021.00
173,296.17
0.00
9,483,724.83
DEBT SERVICE FUND:
SERVICES
537,800.00
4,710.00
0.00
533,090.00
BOND PRINCIPAL
2,500,000.00
0.00
0.00
2,500,000.00
BOND INTEREST
7,805,905.00
0.00
0.00
7,805,905.00
INTEREST CITY ADVANCE
1,116,237.00
186,039.50
0.00
930,197.50
PASS THROUGH PAYMENTS
13,076,663.00
366,651.50
0.00
12,710,011.50
ERAF SHIFT
3,000,000.00
0.00
0.00
3,000,000.00
TRANSFERS OUT
3,465,227.00
0.00
0.00
3,465,227.00
TOTAL DEBT SERVICE
31,501,832.00
567,401.00
0.00
30,944,431.00
CAPITAL IMPROVEMENT FUND:
PERSONNEL
4,900.00
794.79
0.00
4,105.21
SERVICES
307,362.00
3,668.00
0.00
303,694.00
LAND ACQUISITION
0.00
0.00
0.00
ASSESSMENT DISTRICT
0.00
0.00
0.00
0.00
ADVERTISING -ECONOMIC DEV
0.00
0.00
0.00
0.00
ECONOMIC DEVELOPMENT
55,000.00
0.00
0.00
55,000.00
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
319,515.00
53,252.46
0.00
266,262.54
TRANSFERS OUT
22,144,647.00
981,494.57
0.00
21,163,152.43
TOTAL CAPITAL IMPROVEMENT
22,831,424.00
1,039,209.82
0.00
21,792,214.18
CAPITAL IMPROVEMENT FUND/TAXABLE BOND
BOND ISSUANCE COSTS
0.00
0.00
0.00
0.00
TRANSFERS OUT
(4,594.00)
0.00
0.00
(4,594.00)
TOTAL CAPITAL IMPROVEMENT
(4,594.00)
0.00
0.00
(4,594.00)
c (�. 9
4
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO.2:
LOW/MODERATE BOND FUND
2nd TRUST DEEDS
LAND
BOND ISSUANCE COSTS
TRANSFERS OUT
LOW/MODERATE TAX FUND:
PERSONNEL
07/01/2005 - 08131/05 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
TOTAL LOW/MOD BOND 0.00 0.00 0.00 0.00
SERVICES
2ND TRUST DEEDS
2ND TRUST DEEDS FROM CENTERPOINTE
48TH AND ADAMS - FROM CENTERPOINTE
WASH/MILES PROJECT
VISTA DUNES MOBILE HOME PARK
LOW MOD HOUSING PROJECT/47TH/ADAMS PROJ
47TH/ADAMS PROJECT
FORECLOSURE ACQUISITION
REIMBURSEMENT TO GEN FUND
TRANSFERS OUT
TOTAL LOW/MOD TAX
2,900.00
480.97
0.00
2,419.03
280,628.00
2,952.00
0.00
277,676.00
1,000,000.00
0.00
0.00
1,000,000.00
2,520,000.00
0.00
0.00
2,520,000.00
1,423,203.00
710.00
0.00
1,422,493.00
0.00
0.00
0.00
0.00
0.00
31,498.58
0.00
(31,498.58)
0.00
0.00
0.00
0.00
776,239.00
0.00
0.00
776,239.00
150,000.00
0.00
0.00
150,000.00
350,708.00
58,451.30
0.00
292,256.70
1,706,754.00
0.00
0.00
1,706,754.00
8,210,432.00
94,092.85
0.00
8,116,339.15
2004 LOWIMODERATE BOND FUND
HOUSING PROGRAMS
51,021,866.00
0.00
0.00
51,021,866.00
LAND
3,000,000.00
0.00
0.00
3,000,000.00
TRANSFERS OUT
1,167,353.00
105,827.11
0.00
1,061,525.89
TOTAL LOW/MOD BOND
55,189,219.00
105,827.11
0.00
55,083,391.89
DEBT SERVICE FUND:
SERVICES
195,970.00
0.00
0.00
195,970.00
BOND PRINCIPAL
200,000.00
0.00
0.00
200,000.00
BOND INTEREST
319,168.00
0.00
0.00
319,168.00
INTEREST CITY ADVANCE
1,593,358.00
265,559.70
0.00
1,327,798.30
PASS THROUGH PAYMENTS
11,726,665.00
0.00
0.00
11,726,665.00
TRANSFERS OUT
1,706,754.00
0.00
0.00
1,706,754.00
TOTAL DEBT SERVICE
15,741,915.00
265,559.70
0.00
15,476,355.30
CAPITAL IMPROVEMENT FUND:
PERSONNEL
2,900.00
480.73
0.00
2,419.27
SERVICES
195,162.00
(648.00)
0.00
195,810.00
ADVERTISING -ECONOMIC DEV
0.00
0.00
0.00
0.00
ECONOMIC DEVELOPMENT ACTIVITY
0.00
0.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
23,903.00
3,983.84
0.00
19,919.16
TRANSFERS OUT
485,033.00
14,675.32
0.00
470,357.68
TOTAL CAPITAL IMPROVEMENT
706,998.00
18,491.89
0.00
688,506.11
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