Loading...
2007 10 16 RDAea# 4 4 4&& Redevelopment Agency agendas are available on the City' web page @ www.la-quinta.org REDEVELOPMENT AGENCY AGENDA CITY COUNCIL CHAMBERS 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting TUESDAY, OCTOBER 16, 2007 3:00 P.M. Closed Session / 4:00 P.M. Open Session Beginning Resolution No. RA 2007-016 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. 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 acquisition of real property is considered. 1. CONFERENCE WITH 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 78-990 MILES AVENUE (APN 604-032-022). PROPERTY OWNER/NEGOTIATOR: NATIONAL COMMUNITY RENAISSANCE OF CALIFORNIA, ALFREDO IZMAJTOVICH. a O,;I Redevelopment Agency Agenda 1 October 16, 2007 RECESS TO CLOSED SESSION RECONVENE AT 4:00 P.M. 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. CONFIRMATION OF AGENDA APPROVAL OF MINUTES 1. APPROVAL OF MINUTES OF OCTOBER 2, 2007. 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 16, 2007. 2. RECEIVE AND FILE TREASURER'S REPORT DATED AUGUST 31, 2007. 3. RECEIVE AND FILE REVENUE & EXPENDITURES REPORT DATED AUGUST 31, 2007, AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING SEPTEMBER 30, 2007. BUSINESS SESSION - NONE STUDY SESSION — NONE CHAIR AND BOARD MEMBERS' ITEMS — NONE 3' Redevelopment Agency Agenda 2 October 16, 2007 © 112 PUBLIC HEARINGS — NONE ADJOURNMENT The next regular meeting of the Redevelopment Agency will be held on November 6, 2007, commencing with closed session at 3:00 p.m. and open session at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that the foregoing agenda for the La Quinta Redevelopment Agency meeting of October 16, 2007, 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 October 12, 2007. DATED: ctober 12, 2007 VERONICA J. NTECINO, City Clerk City of La Quinta, California 00 Redevelopment Agency Agenda 3 October 16, 2007 �T � o c7F 5 B fft 4 44" �c 9w5� `for rt� AGENDA CATEGORY: COUNCIURDA MEETING DATE: October 16, 2007 BUSINESS SESSION ITEM TITLE: Demand Register Dated CONSENT CALENDAR October 16, 2007 STUDY SESSION PUBLIC HEARING RECOMMENDATION: It is recommended the Redevelopment Agency Board: Receive and File the Demand Register Dated October 16, 2007 of which $659,503.77 represents Redevelopment Agency Expenditures PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA W s F`N OF COUNCIL/RDA MEETING DATE: October 16, 2007 ITEM TITLE: Receive and File Transmittal of Treasurer's Report as of August 31, 2007 RECOMMENDATION: It is recommended the La Quinta Redevelopment Agency: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: h STUDY SESSION: PUBLIC HEARING: Receive and File the Treasurer's Report dated August 31, 2007. PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA 6 , 7 I COUNCIL/RDA MEETING DATE: October 16, 2007 ITEM TITLE: Receive and File Transmittal of Revenue and Expenditure Report dated August 31, 2007 and Investment Summary Report for the Quarter Ending September 30, 2007 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 Transmittal of the August 31, 2007 Statement of Revenue and Expenditures for the La Quinta Redevelopment Agency and Investment Summary Report for the Quarter Ending September 30, 2007. aR;11ectfuy su mitted, ohn M. Falconer, Finance Director I.Ap for�ub-sion by: Thomas P. Genovese, Executive Director Attachments: 1. Revenue and Expenditures Report, August 31, 2007 2. Investment Summary Report for the Quarter Ending September 30, 2007 0 006 LA OUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO. 1: 0710112007 - 8131/2007 REMAINING % BUDGET RECEIVED BUDGET RECEIVED ATTACHMENT 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 LORP-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 Intersl - County Loan Interest Advance Proceeds Transfers In TOTAL DEBT SERVICE 000 000 000 0000% 000 0.00 000 0000% coo 000 0.00 O.D00% coo 000 0.00 0.000 % 0 00 0.00 0.00 0.000% 10,600,60000 74.64 10,600,525.36 0.000% 404,800.00 0.00 4D4,800.00 0.000% 000 14733 (14733) 0000% 000 000 000 0000% 000 000 000 0000% 252,00000 24,963.00 227.03700 9910% 150,000.00 158,06085 (8,060.85) 105.370% 000 000 000 0.000% 0.00 2,14459 (2,14459) 0000% 0.00 0.00 0.00 0.000% 000 0.00 0.00 0.000% 000 0.00 0.00 0000% 11,407,400 00 185.390 41 11, 222,OD9 59 1 630 % 42,638,70000 (29854) 42,638,99864 0000% 896,100.00 000 896.100 00 0.000% 000 0.00 0.00 0.000% 000 000 0.00 0,000% 0.00 0.00 0 00 0 000 % 4,450,261.00 0.00 4,450,26100 0000% 47,985,061.00 (298.54) 47,985.359 54 0000% CAPITAL IMPROVEMENT FUND - NON-TAXABLE Pooled Cash Allocated Interest 37,90000 000 37,900.00 0000% Non Allocated Interest 500,000.00 138,039.14 361.96086 27610% Developer Agreement Funding 0.00 0,00 0.00 0000% Sale of Land Proceeds 3,894,60000 0.00 3,894,600.00 0.000% Rental Income 0.00 000 000 0.000% Transfers In 25,000,000.00 0.00 25,000,00000 0.000% TOTAL CAPITAL IMPROVEMENT 29.432.50000 138,03914 29.294.46086 0.470% CAPITAL IMPROVEMENT FUND -TAXABLE Pooled Cash Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 000 0.00 0.00 0000% Litigation Settlement Revenue 0.00 0.00 000 0000% Bond proceeds 000 000 000 0.000% Rental Income 000 000 000 00DO% Transfers In 000 000 000 0000% TOTAL CAPITAL IMPROVEMENT 000 000 0DO 0000% ' 8 , 007 z LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 1: LOWIMODERATE BOND FUND LOW/MODERATE TAX FUND: 07/01/2007 - 08/31/2007 REMAINING BUDGET EXPENDITURES ENCUMBERED BUDGET PERSONNEL 0.00 000 0.00 000 SERVICES 0.00 0.00 000 000 REIMBURSEMENT TO GEN FUND 000 000 0.00 000 HOUSING PROJECTS 000 0.00 0.00 000 TRANSFERS OUT 0.00 000 000 000 TOTAL LOW/MOD BONG 000 0.00 0.00 PERSONNEL 1.10000 805.15 000 294,85 SERVICES 362,76400 13,04945 000 349,71455 BUILDING HORIZONS 000 22,06928 0.00 (22,069.28) LO RENTAL PROGRAM 200,000.00 0.00 000 200.000 00 2nd TRUST DEED PROGRAM 250,000.00 106,050.00 000 143.950 00 LAND ACQUISITION 9.962.97100 5,000.00 000 9,957,97100 FORECLOSURE 150,00000 0.00 0.00 150,000.00 REIMBURSEMENT TO GEN FUND 652,471.00 108,74496 0.00 543,726.04 TRANSFERS OUT 4450261 ,.00 000 000 4 450,261.00 TOTAL LOWIMOD TAX DEBT SERVICE FUND: SERVICES 457,30000 1,456.66 000 455,84334 BOND PRINCIPAL 3,514.57900 0.00 000 3,514,579.00 BONDINTEREST 7,500,553.00 000 000 7.500.55300 INTEREST CITY ADVANCE 1,020.00000 170.000.00 0.00 850,000.00 PASS THROUGH PAYMENTS 22,808,012.00 525.395 12 000 22.282.616 88 ERAF SHIFT 0.00 0.00 0.00 0.00 TRANSFERS OUT 28,970960.00 000 000 28,970,960.00 TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: PERSONNEL 1,100.00 80515 000 29485 SERVICES 774,226.00 24,55866 000 749,667.34 LAND ACQUISITION 000 000 000 000 ASSESSMENT DISTRICT 000 0.00 0.00 000 ADVERTISING -ECONOMIC DEV 000 000 0.00 0.00 ECONOMIC DEVELOPMENT 0.00 000 0.00 000 BOND ISSUANCE COSTS 000 000 0.00 0.00 CAPITAL - BUILDING 10,000 00 000 0.00 10.000 00 REIMBURSEMENT TO GEN FUND 311,033.00 51,83864 000 259.19436 TRANSFERS OUT 62,517,44000 581,73983 1.00 61,935,70017 TOTAL CAPITAL IMPROVEMENT CAPITAL IMPROVEMENT FUND7TAXABLE BOND BOND ISSUANCE COSTS 000 0.00 000 0.00 TRANSFERS OUT 000 000 0.00 0.00 TOTAL CAPITAL IMPROVEMENT 0. 009 3 LA OUINTA REDEVELOPMENT AGENCY 0710112007 - 8/3112007 REMAINING % REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED PROJECT AREA NO.2: LOW/MODERATE BOND FUND: Allocated Interest 000 0.00 0.00 0.000% Non Allocated Interest 0.00 000 0.00 0.000% Bond proceeds (net) 0.00 0.00 000 0 000% Transfer In 0.00 000 000 0000% TOTAL LOWIMOD BOND 000 000 000 0 D00% LOWIMODERATE TAX FUND: Tax Increment 5,563,900 00 coo 5,563,900 00 0 000 % Allocated Interest 742,10000 0.00 742,100.00 0.000% Non Allocated Interest 000 000 000 0.000 % Developer funding 000 O.DO 0.00 0.000% Vista Dunes MHP Rental Rev O.DO 000 0.00 0000% 2nd Trust Deed Repayment 0.00 59,219.00 (59,21900) 0.000% ERAF Shdt- Interest 0.00 0.00 000 0.000% Sale of Land 12,694,301.00 000 12,694,301.00 0000% Transfer In 0.00 000 000 0 000 % TOTAL LOW/MOD TAX 19,000,301.00 59,21900 18,941,062.00 0,310% 2004 LOWIMODERATE BOND FUND: Allocated Interest 000 000 0.00 0 000 % Home Sale Proceeds 000 0.00 0.00 0.D00% Non Allocated Interest 2.000.00000 348,789.22 1,651,21078 17.440% Transfer In 000 0DO 0.D0 0000% TOTAL LOW/MOD BOND 2,000,000.00 348,78922 1,651,210.78 17440% DEBT SERVICE FUND: Tax Increment 22,923,10000 000 22,923,100.00 0000% Allocated Interest 573,200 00 000 573.200.00 O.ODO% Non Allocated Interest 0.00 000 000 0.000% Interest Advance Proceeds 0DO 000 0.00 0000% Transferin _ 1,955,84600 0.00 1.95584600 0.000% TOTAL DEBT SERVICE 25,452,14600 000 25,452,146.00 0000% CAPITAL IMPROVEMENT FUND: Allocated Interest 58,90000 0.00 58,900.00 0.000% Non Allocated Interest 0.00 000 000 0000% Developer Agreement 000 000 0.00 0000% Transfers In 000 0.00 0.00 0.000% TOTAL CAPITAL IMPROVEMENT 58,90000 000 58.900.00 000O% 001 LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO.2: LOW/MODERATE BOND FUND LOW/MODERATE TAX FUND: 07101/2007-08/3112007 REMAINING BUDGET EXPENDITURES ENCUMBERED BUDGET 2nd TRUST DEEDS 000 000 000 0.00 LAND 000 000 000 0.00 BOND ISSUANCE COSTS 0.00 0.00 0.00 000 TRANSFERS OUT 000 0.00 000 0.00 TOTAL LOW/MOD BONG PERSONNEL 70000 48724 000 212.76 SERVICES 540,46400 4,751.21 0.00 535.71279 2NO TRUST DEEDS 000 000 000 0.00 FORECLOSURE ACQUISITION 100,000.00 000 0.00 100.00000 WATERCOLOR COURT HOMES 4,500,000.00 000 000 4,500,00000 LAND ACQUISITION 333,555.00 39,42700 0.00 294,128,00 REIMBURSEMENT TO GEN FUND 356.50500 59,41732 0.00 297,087.68 TRANSFERS OUT 6,834,36700 617,69813 0.00 6.216.66887 TOTAL LOW/MOD TAX 2004 LOW/MODERATE BOND FUND HOUSING PROGRAMS 0.00 1.212,10000 000 (1,212,10000) LAND 000 0.00 000 000 TRANSFERS OUT 36527,500.00 648,396.75 000 35,879,10325 TOTAL LOW/MOD BONDJ,MU DEBT SERVICE FUND: CAPITAL IMPROVEMENT FUND: SERVICES 176.10000 41454 000 175,685.46 BOND PRINCIPAL 110.00000 000 0.00 110,000.00 BONDINTEREST 310,13500 0.00 0.00 310,135.00 INTEREST CITY ADVANCE 1,000,000.00 166,666.60 000 833,333.40 PASS THROUGH PAYMENTS 18.688.406.00 103,804 33 000 18,584,601 67 TRANSFERS OUT 1.955.846 00 000 000 1 955 R46 on PERSONNEL 70000 486.96 0.00 213 04 SERVICES 123,641.00 5,201.97 000 118,439.03 ADVERTISING -ECONOMIC DEV 0.00 000 000 000 ECONOMIC DEVELOPMENT ACTIVITY 000 000 0.00 0.00 REIMBURSEMENT TO GEN FUND 25.29100 4,21508 0.00 21,075.92 TRANSFERS OUT 275,000.00 000 0.00 275,00000 TOTAL CAPITAL IMPROVEMENT 919 j H I I AL NIVItIV I L O O O O N M N N � Q U3 N O O O O W M co m N m O Y 0 0 0^ 0 0 0 0 0 0 0 w m VO cq cq 2 O N M N N EA OR O O o 0 0 0 Oi 0 0 0 0 0 0 0 0 aN N M N i0 EA O D O O T T T T T T T T T T T N N N N ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ O I� O X X X X X X X TC X J( X N N N UI N N O N N UI N UI N N � MN Z Z Z Z Z Z Z Z Z Z Z C C C C C C C C C C C C J J J J J J J J J J J J LL LL LL LL LL LL LL LL LL LL LL LL N _ @ m @ m @ m @ m @ m @ @ J J J J J J J J J J J h di E m m 7 5 J 7 7 55 J>> J J N N N N @ @ @ @ @ @ @ @ @ @ @ @ T 0 N O N O @01 c c c c cc c C C C C G O O O O O O O O O O O O U > (n N .. U ❑ y U U U U d N U > > >> UI N O @ D N @ (n (n (n (1) c a a. 0. a F a U m d H 0 0 0 0 ,cc O)OI OIL O101����� >>�N ❑ J J J ❑ J J ❑ ❑ ❑ ❑ ❑ a a ❑ ❑ x = 2 2 (if 2 2 oaf x x ilf x ❑ ❑ x ir O V d' 707 V 00000 � O�im Obi 0 0 0 0 0 0 0 0 0 0 0 0 0) O O) O) N O O O N O O N N N N N �- N N NN N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y C C C C C C C C C C C C C C C C @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ m m m m m m m m m m m m m m m m 06C6vi(6U) 0(6U56v 60v6C66 M M N 0) V bl m O fA Oil 21