2006 04 18 RDAexxv 4 4ep,adj&
Redevelopment Agency Agendas are
Available on the City's Web Page
�ia www.la-quinta.org
REDEVELOPMENT AGENCY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
Tuesday, April 18, 2006 — 2:00 PM
Beginning Resolution No. RA 2006-005
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Henderson, Kirk, 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 THE AGENCY'S REAL PROPERTY NEGOTIATOR, DOUGLAS R.
EVANS, PURSUANT TO GOVERNMENT CODE SECTION 54956.8 CONCERNING
POTENTIAL TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF
REAL PROPERTY LOCATED AT HIGHWAY 1 1 1, EAST OF DUNE PALMS ROAD
(APNs 649-030-016, -017, AND -040), PROPERTY OWNER/NEGOTIATOR: JOHN
W. FITZGIBBON.
Redevelopment Agency Agenda 1 April 18, 2006
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 APRIL 4, 2006.
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 APRIL 18, 2006.
2. RECEIVE AND FILE TREASURER'S REPORT DATED FEBRUARY 28, 2006.
3. RECEIVE AND FILE THE REVENUE AND EXPENDITURES REPORT FOR FEBRUARY
28, 2006 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING
MARCH 31, 2006.
BUSINESS SESSION - NONE
STUDY SESSION - NONE
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS - NONE
Redevelopment Agency Agenda 2 April 18, 2006
ADJOURNMENT
Adjourn to a regularly scheduled meeting of the Redevelopment Agency to be held on May
2, 2006, commencing with closed session at 2:00 PM and open session at 3:00 PM 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 April 18, 2006, 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 April 14, 2006.
DATED: April 14, 2006
JUNE S. GREEK, CIVIC, City Clerk
City of La Quinta, California
Redevelopment Agency Agenda 3 April 18, 2006
T 4 4 6j
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AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: April 18, 2006
CONSENT CALENDAR
ITEM TITLE:
STUDY SESSION
Demand Register Dated April 18, 2006 PUBLIC HEARING
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated April 18, 2006 of which $3,369,700.95
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
OF
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: April 18, 2006
ITEM TITLE: Receive and File Treasurer's Report
as of February 28, 2006
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and file.
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
Ceitif 4 Sep QUjftrC4V
COUNCIL/RDA MEETING DATE: April 18, 2006
ITEM TITLE: Receive and File Revenue and
Expenditure Report for February 28, 2006 and
Investment Summary Report for the Quarter Ending
March 31, 2006
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Statement of Revenue and Expenditures for February 28, 2006
and Investment Summary Report for the Quarter ending March 31, 2006 for the La
Quinta Redevelopment Agency.
Respectfully submitted,
d
John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures for February 28, 2006 and
Investment Summary Report dated March 31, 2006
2
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
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
8,567,604.00
4,719,098.76
3,848,505.24
360,000.00
79,798.74
280,201.26
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
276,000.00
158,611.50
117,388.50
480,000.00
510,901.10
(30,901.10)
0.00
0.00
0.00
50,000.00
55,531.67
(5,531.67)
30,000.00
32,122.73
(2,122.73)
1,000,000.00
1,054,455.07
(54,455.07)
0.00
0.00
Q.00
10,763,604.00
6,610,519.57
4,153,084.43
DEBT SERVICE FUND:
Tax Increment
34,270,416.00
18,764,894.72
15,505,521.28
Allocated Interest
300,000.00
267,396.81
32,603.19
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
3,945,802.00
1,982,532.01
1,963,269.99
TOTAL DEBT SERVICE
38,516,218.00
21,014,823.54
17,501,394.46
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
Pooled Cash Allocated Interest
150,000.00
75,824.60
74,175.40
Non Allocated Interest
1,000,000.00
561,422,75
438,577.25
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
913 378.00
276,867.94
636,510.06
TOTAL CAPITAL IMPROVEMENT
2,063,378.00
914,115.29
1,149,262.71
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
3
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
07/01/2005 - 02/28/06 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
3,871.65
0.00
1,028.35
SERVICES
265,405.00
159,510.23
0.00
105,894.77
BUILDING HORIZONS
125,000.00
75,000.00
0.00
50,000.00
LQ RENTAL PROGRAM
332,000.00
186,341.95
0.00
145,658.05
LQ HOUSING PROGRAM
320,000.00
748.00
0.00
319,252.00
LOWMOD VILLAGE APARTMENTS
400,000.00
400,000.00
0.00
0.00
2nd TRUST DEED PROGRAM
3,298,340.00
40,000.00
0.00
3,258,340.00
LQRP - REHABILITATION
0.00
0.00
0.00
0.00
APT REHABILITATION
136,000.00
47,109.00
0.00
88,891.00
FORECLOSURE
150,000.00
0.00
0.00
150,000.00
REIMBURSEMENT TO GEN FUND
679,574.00
453.049.36
0.00
226,524.64
TRANSFERS OUT
3,945,802.00
1,982,532.01
0.00
1,963,269.99
TOTAL LOW/MOD TAX
9,657,021.00
3,348,162.20
0.00
6,308,858.80
DEBT SERVICE FUND:
SERVICES
537,800.00
297,050.58
0.00
240,749.42
BOND PRINCIPAL
2,500,000.00
2,500,000.00
0.00
0.00
BOND INTEREST
7,805,905.00
3,938,313.13
0.00
3,867,591.87
INTEREST CITY ADVANCE
1,124,738.00
772,569.77
0.00
352,168.23
PASS THROUGH PAYMENTS
16,610,336.00
9,152,777.15
0.00
7,457,558.85
ERAF SHIFT
2,903,657.00
0.00
0.00
2,903,657.00
TRANSFERS OUT
4,374,737.00
2,255,532.01
0.00
2,119,204.99
TOTAL DEBT SERVICE
35,857,173.00
18,916,242.64
0.00
16,940,930.36
CAPITAL IMPROVEMENT FUND:
PERSONNEL
4,900.00
3,871.65
0.00
1,028.35
SERVICES
313,862.00
112,065.00
0.00
201,797.00
LAND ACQUISITION
0.00
0.00
0.00
ASSESSMENT DISTRICT
0.00
0.00
0.00
0.00
ADVERTISING -ECONOMIC DEV
0.00
2,000.00
0.00
(2,000.00)
ECONOMIC DEVELOPMENT
48,500.00
0.00
0.00
48,500.00
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
213,009.99
0.00
106,505.01
TRANSFERS OUT
23,453,157.00
5,402,088.71
0.00
18,051,068.29
TOTAL CAPITAL IMPROVEMENT
24,139,934.00
5,733,035.35
0.00
18,406,898.E
CAPITAL IMPROVEMENT FUNDITAXABLE 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)
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
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
DEBT SERVICE FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Interest Advance Proceeds
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
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
4,707,594.00
2,620,236.36
2,087,357.64
275,300.00
90,742.10
184,557.90
0.00
0.00
0.00
0.00
0.00
0.00
15,000.00
14,802.64
197.36
112,500.00
250,301.85
(137,801.85)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,110,394.00
2,976,082.95
2,134,311.05
0.00
0.00
0.00
0.00
0.00
0.00
1,418,400.00
1,237,286.76
181,113.24
0.00
0.00
0.00
1,418,400.00
1,237,286.76
181,113.24
18,830,375.00
10,406,672.46
8,423,702.54
275,000.00
204,403.79
70,596.21
0.00
0.00
0.00
0.00
0.00
0.00
7,998 654.00
7,268,370.99
730,283.01
27,104,029.00
17,879,447.24
9,224,581.76
Allocated Interest
80,000.00
40,023.48
39,976.52
Non Allocated Interest
0.00
0.00
0.00
Developer Agreement
7,824,584.00
7,824,583.57
0.43
Transfers In
0.00
0.00
0.00
TOTAL CAPITAL IMPROVEMENT
7,904,584.00
7,864,607.05
39,976.95
5
LA QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO.2:
07/01/2005 - 02/28/06 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
2,342.94
0.00
557.06
SERVICES
280,628.00
178,190.07
0.00
102,437.93
2ND TRUST DEEDS
852,693.00
0.00
0.00
852,693.00
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
710.00
0.00
1,422,493.00
WASH/MILES PROJECT
0.00
0.00
0.00
0.00
VISTA DUNES MOBILE HOME PARK
147,307.00
111,931.61
0.00
35,375.39
LOW MOD HOUSING PROJECT
105,015.00
0.00
0.00
105,015.00
47TH/ADAMS PROJECT
776,239.00
0.00
0.00
776,239.00
FORECLOSURE ACQUISITION
150,000.00
0.00
0.00
150,000.00
REIMBURSEMENT TO GEN FUND
350,708.00
233,805.29
0.00
116,902.71
TRANSFERS OUT
1,706,754.00
976,470.99
0.00
730,283.01
TOTAL LOW/MOD TAX
8,315,447.00
1,503,450.90
0.00
6,811,996.10
2004 LOW/MODERATE BOND FUND
HOUSING PROGRAMS
51,021,866.00
48.00
0.00
51,021,818.00
LAND
3,000,000.00
0.00
0.00
3,000,000.00
TRANSFERS OUT
3,361,986.00
935,638.72
0.00
2,426,347.28
TOTAL LOW/MOD BOND
57,383,852.00
935,686.72
0.00
56,448•,165.28
DEBT SERVICE FUND:
SERVICES
195,970.00
152,363.88
0.00
43,606.12
BOND PRINCIPAL
200,000.00
100,000.00
0.00
100,000.00
BOND INTEREST
319,168.00
160,646.25
0.00
158,521.75
INTEREST CITY ADVANCE
1,205,104.00
858,526.02
0.00
346,577.98
PASS THROUGH PAYMENTS
16,020,307.00
8,681,710.16
0.00
7,338,596.84
TRANSFERS OUT
1,706,754.00
976,470.99
0.00
730,283.01
TOTAL DEBT SERVICE
19,647,303.0
110,929,717.30
0.00
8,717,585.70
CAPITAL IMPROVEMENT FUND:
PERSONNEL
2,900.00
2,341.76
0.00
558.24
SERVICES
195,162.00
39,661.07
0.00
155,500.93
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
15,935.36
0.00
7,967.64
TRANSFERS OUT
6,776,933.00
6,465,217.27
0.00
311,715.73
TOTAL CAPITAL IMPROVEMENT
6,998,898.00
6,523,155.46
0.00
475, 42.54
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