RDA Resolution 2006-015
RESOLUTION RA NO. 2006-015
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING AN AGREEMENT FOR PURCHASE
AND SALE AND ESCROW INSTRUCTIONS BY AND
BETWEEN THE AGENCY AND DENNIS D. FOUNTAIN,
FOR THE AGENCY'S PURCHASE OF REAL PROPERTY
FOR AFFORDABLE HOUSING PURPOSES AND
ALLOCATING $400,000 TO FUND THE ACQUISITION,
RELOCATION, AND DEMOLITION
PURCHASE AND SALE AGREEMENT
DENNIS D. FOUNTAIN
WHEREAS, the La Ouinta Redevelopment Agency ("Agency") is a
public body, corporate and politic, organized and existing under the California
Community Redevelopment Law (Health & Safety Code Section 33000, et seq.)
("CRL"); and
WHEREAS, pursuant to the CRL, the City Council of the City of La
Ouinta ("City" or "City Council," as applicable) approved and adopted the
Redevelopment Plan ("Redevelopment Plan") for Project Area No. 2 ("Project
Area"), on May 16, 1989, by Ordinance No. 139; and
WHEREAS, a fundamental purpose of the CRL is to expand the supply
of low- and moderate-income housing (Health & Saf. Code, ~ 33071); and
WHEREAS, the Agency staff has negotiated an Agreement for
Purchase and Sale and Escrow Instructions ("Agreement") with Dennis D. Fountain
("Seller"), for the Agency's purchase of real property located at 46-150 Dune
Palms Road and known as APN 600-030-003 (the "Property"), for Three Hundred
and Nineteen Thousand Dollars ($319,000); and
WHEREAS, the residents of the Property are entitled to relocation
assistance in the amount of approximately $61,000 pursuant to the California
Relocation Assistance Act (Govt.Code section 7260 et seq.); and
WHEREAS, the Agreement is in accordance with the Redevelopment
Plan and is of benefit to the Project Area and the City of La Ouinta.
NOW, THEREFORE, BE IT RESOLVED BY THE LA QUINTA REDEVELOPMENT
AGENCY AS FOLLOWS:
Resolution RA No. 2006-016
Purchase and Sale Agreement
Dennis Fountain
Adopted: December 5, 2006
Page 2
Section 1. That the above recitals are true and correct and incorporated
herein.
Section 2. The Agreement, a copy of which is on file with the Agency
Secretary, is hereby approved. The Agency Executive Director and Agency
Counsel are hereby authorized and directed to make final modifications to the
Agreement that. are consistent with the substantive terms of. the Agreement
approved hereby, and the Agency Executive Director. is authorized to thereafter
sign the Agreement on behalf of the Agency.
Section 3. The Agency Executive Director is authorized and directed, on
behalf of the Agency, to (i) sign such other and further documents, including but
not limited to escrow instructions that require the Agency's signature, and (ii) take
such other and further actions, as may be necessary and proper to carry out' the
terms of the Agreement.
Section 4. The Agency authorizes the expenditure of $400,000 to close the
transaction contemplated by the Purchase Agreement, provide relocation benefits
and demolish and clear the site from .the Available Unreserved Fund Balances in
Low and Moderate Income Fund Project Area 2 (Account #24600002900000).
PASSED, APPROVED, and ADOPTEP at a regular meeting of the
La Ouinta Redevelopment Agency held this 5th day of December, 2006, by the
following vote:
. AYES: Board MembersAdolph, Henderson, Kirk, Sniff, Chair Osborne
NOES: None
ABSENT: None
ABSTAIN: None
EEM. SBORNE, Agency Chair
La Ouinta Redevelopment Agency
Resolution RA No. 2006-016
Purchase and Sale Agreement
Dennis Fountain
Adopted: December 5. 2006
Page 3
ATTEST:
APPROVED AS TO FORM:
M. KATHERINE J SON, Agency Counsel
La Ouinta Redevelopment Agency