RDA Resolution 2008-001RESOLUTION NO. RA 2008-001
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA, CALIFORNIA,
ADOPTING THE FISCAL YEAR 2008/2009 THROUGH
2012/2013 CAPITAL IMPROVEMENT PLAN AND
MAKING CERTAIN FINDINGS PURSUANT TO HEALTH
AND SAFETY CODE SECTION 33445(a) AND
CONSENTING TO THE EXPENDITURE OF FUNDS FOR
THEIMPROVEMENTS
WHEREAS, pursuant to Government Code Section 66002, the City of
La Quinta ("City") is required to review and adopt a Capital Improvement Plan (the
"Plan"); and
WHEREAS, the City is required to conduct a noticed public hearing for
consideration of adoption of the Plan; and
WHEREAS, notice of the public hearing has been given pursuant to
Government Code Section 65090; and
WHEREAS, the Plan is a five-year planning instrument used by the City to
identify capital improvement needs and to coordinate financing and timing of those
needs in a manner that maximizes the return to the public; and
WHEREAS, the Plan is a statement of the City's goals, objectives and
priorities for a five-year Plan and the financial commitments required to accomplish
those objectives; and
WHEREAS, the Fiscal Year 2008/2009 through 2012/2013 Plan proposes
approximately $31,937,006 in improvement projects and $77,767,081 of
unfunded additional improvement projects over the five-year period, commencing
on July 1, 2008 and ending June 30, 2013; and
WHEREAS, the amount allocated from the Plan for first -year projects, called
the capital budget, proposes $9,128,071 in improvements, as shown in Exhibit 1,
heretofore made a part of this Resolution; and
WHEREAS, there is inadequate funding within the City's General Fund or
from other sources other than the funding from the La Quinta Redevelopment
Agency to completely and fully fund the improvements identified within the capital
budget; and
Resolution No. RA 2008-001
Capital Improvement Plan
Adopted: April 15, 2008
Page 2
WHEREAS, the completion of the improvements identified within the capital
budget will help to obtain the goals and objectives of La Quinta Redevelopment
Project Area No. 1 (Project Area) as well as to afford an opportunity to eliminate
conditions of blight in the Project Area; and
WHEREAS, it would be in the best interest of the public to completely fund
all improvements identified within the capital budget.
NOW THEREFORE, BE IT RESOLVED, by the Agency:
SECTION 1. The above recitations are true and correct and are adopted as
the findings of the Agency.
SECTION 2. The Agency does hereby adopt the Fiscal Year 2008/2009
through 2012/2013 Capital Improvement Plan, and approve the capital budget, as
shown in Exhibit 1, heretofore made a part of this Resolution.
SECTION 3. The Agency hereby consents to Agency funding to be utilized to
fund certain improvements within the Fiscal Year 2008/2009 Capital Budget.
SECTION 4. Pursuant to Health and Safety Code Section 33445(a), the
Agency finds and determines that:
A. The proposed improvements identified within the Fiscal Year
2008/2009 Capital Budget are of benefit to the Redevelopment Agency Project
Area No. 1 and to the immediate neighborhoods in which the improvements will be
located.
B. No other reasonable means of financing the improvements are
available to the community.
C. The proposed improvements identified within the Fiscal Year
2008/2009 Capital Budget will assist in the elimination of one or more blighting
conditions inside the Project Areas and are consistent with the Agency's
implementation plan adopted pursuant to Section 33490.
BE IT FURTHER RESOLVED, the Agency for the City of La Quinta authorizes
the inclusion of said capital budget into the Fiscal Year 2008/2009 operating
budget, which appropriates funds for specific facilities, equipment and
improvements.
Resolution No. RA 2008-001
Capital Improvement Plan
Adopted: April 15, 2008
Page 3
PASSED, APPROVED, and ADOPTED at a regular meeting of the Agency
held on this 15" day of April 2008, by the following vote to wit:
AYES: Council Members Adolph, Henderson, Osborne, Sniff, Chairman Kirk
NOES: None
ABSENT: None
ABSTAIN: None
, �,nairman
Redevelopment Agency
ATTEST;
VERONICA ��QONTECINO, Agency Secretary
La Quinta F(6development Agency
(Seal)
APPROVED AS TO FORM:
ER�INE JENS�*, Agency Counsel
La Quinta Redevelopment Agency
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