2009 04 21 RDAƼdja
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, APRIL 21, 2009
3:00 P.M. Closed Session / 4:00 P.M. Open Session
Beginning Resolution No. RA 2009-001
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Franklin, Henderson, Sniff, and Chairman Kirk
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 IDENTIFIED AS APN: 609-040-
002. PROPERTY OWNER/NEGOTIATOR: SUSAN E. SLATER.
.•. 1 001
Redevelopment Agency Agenda 1 April 21, 2009
2. 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 CERTAIN REAL PROPERTY LOCATED ON THE
WESTSIDE OF WASHINGTON STREET, NORTH OF AVENUE 48 (APN: 643-
090-024). PROPERTY OWNER/NEGOTIATOR: LAING LUXURY HOMES,
STEVE BARI.
RECESS TO CLOSED SESSION
RECONVENE AT 4:00 P.M.
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 APRIL 7, 2009.
CONSENT CALENDAR
NOTE: Consent Calendar items are considered to be routine in nature and will be approved
by one motion.
APPROVAL OF DEMAND REGISTER DATED APRIL 21, 2009.
2. RECEIVE AND FILE TREASURER'S REPORT DATED FEBRUARY 28, 2009.
3. RECEIVE AND FILE REVENUE & EXPENDITURES REPORT DATED FEBRUARY
28, 2009, AND INVESTMENT SUMMARY REPORT FOR THE QUARTER
ENDING MARCH 31, 2009.
002
Redevelopment Agency Agenda 2 April 21, 2009
4. ADOPTION OF A RESOLUTION APPROVING THE FISCAL YEAR 2009/2010
THROUGH 2O13/2014 CAPITAL IMPROVEMENT PROGRAM AND MAKING
CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION
33445(a).
5. ADOPTION OF A RESOLUTION APPROVING A PURCHASE AND SALE
AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY AND SUSAN E.
SLATER FOR PROPERTY LOCATED AT 46-130 DUNE PALMS ROAD (APN:
600-030-002).
BUSINESS SESSION - NONE
STUDY SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Redevelopment Agency will be held on May 5,
2009, 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 April 21,
2009, 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 17, 2009.
DATED: pril 17, 2009
r ,
VERONICA. ONTECINO, City Clerk
City of La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Redevelopment Agency regarding any item
on this agenda will be made available for public inspection at the City Clerk counter at City Hall
located at 78-495 Calls Tampico, La Quinta, California, 92253, during normal business hours.
,.,.n , 003
Redevelopment Agency Agenda 3 April 21, 2009
F
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GF`y OF
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: April 21, 2009 BUSINESS SESSION
ITEM TITLE: Demand Register Dated CONSENT CALENDAR
April 21, 2009
STUDY SESSION
PUBLIC HEARING
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
April 21, 2009 of which $205,691.85
represents Redevelopment Agency Expenditures
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
11'
�O QUM&
F`y OF'[tte0
COUNCIL/RDA MEETING DATE: April 21, 2009 AGENDA CATEGORY:
ITEM TITLE: Receive and File TreasurerBUSINESS SESSION:s Report —h
as of February 28, 2009 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
4'..0. 005
t�
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: April 21, 2009
ITEM TITLE: Receive and File Revenue and
Expenditure Report for February 28, 2009 and
Investment Summary Report for the Quarter Ending
March 31, 2009
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Statement of Revenue and Expenditures for February 28, 2009
and Investment Summary Report for the Quarter ending March 31, 2009 for the La
Quinta Redevelopment Agency.
.44 •1 006
Respectfully submitted,
. 4K
John . Falconer, Finance Director
Approved for submission by:
e-
thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures for February 28, 2009 and
Investment Summary Report dated March 31, 2009
r 007
2
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 1:
LOWIMODERATE 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 LOWIMOD TAX
DEBT SERVICE FUND:
Tax Increment
A➢ocated Interest
Non Allocated Interest
Interest- County Loan
Interest Advance Proceeds
Transfers In
TOTAL DEBT SERVICE
07101/2008 - 07J2812009
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
11,169.00000
4,892.43908
6.276,560.92
43800%
25,00000
(24,298.05)
49.298.05
-97.190%
0.00
94250
(942 50)
0.000%
000
0.00
000
0000%
0.00
000
0.00
0.000%
225,000.00
162,912.00
62,088.00
72410%
160.000 00
000
150,000.00
0.000%
0.00
0.00
0.00
omo%
65000
603.34
4666
92.820%
0.00
000
000
0.000%
100,000.00
92,50000
7,50000
92.500%
000
000
0.00
0.000%
11,869,fi5000
5,125,09887
6,544,551.13
43.920%
44,676,000.00
19,569,756 27
25,106,243 73
43,800%
173.600 00
121,244.73
52,355 27
69 840%
000
000
0.00
0.000%
000
0.00
0.00
0000%
0.00
0.00
0,00
0000%
4,444,47900
2,951,541.56
1,492,93744
66.410%
49,294,07900
22,642,542.56
26,651,53644
45930%
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
590,000.00
306,220.44
283,779.56
51 900%
Pooled Cash Allocated Interest
173.000 00
164.741.06
8,258.94
95 230%
Non Allocated Interest
0.00
000
0.00
0.000%
Developer Agreement Funding
000
0.00
0.00
0000%
Sale of Land Proceeds
0.00
0.00
000
0,000%
Rental Income
5,000,00000
5,000,00000
0.00
100.000%
Transfers In
TOTAL CAPITAL IMPROVEMENT
5,763,000.020
5,470,961.50
292-038.50
94.930%
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO.2:
LOWIMODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Developer funding
Vista Dunes MHP Rental Rev
2nd Trust Dead Repayment
ERAF Shift - Interest
Sale of Land
Miraflores Note Repayment
Transfer In
TOTAL LOWIMOD TAX
2004 LOWIMODERATE BOND FUND:
Allocated Interest
Home Sale Proceeds
Non Allocated Interest
Transfer In
TOTAL LOWIMOD BOND
DEBT SERVICE FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Interest Advance Proceeds
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
Allocated Interest
Non Allocated Interest
Sale of land
Transfers In
TOTAL CAPITAL IMPROVEMENT
0710112008 - 0212812009
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
S,a43,25000
2,793,08827
3,050,161.73
47600%
320,500 00
164.741.40
155,758.60
51.400%
0.00
0.00
000
0.000%
000
000
0.00
0.000%
0.00
0.00
0.00
0000%
45,00000
40,45825
4,541.75
89.910%
000
0.00
000
0.000%
0.00
0.00
0.00
0000%
0.00
0.00
0,00
0.000%
0.00
0.00
000
0,000%
6 208,750.00
2,998,287 92
3,210,462 08
48.290%
000
0.00
000
0000%
0.00
0.00
0.00
0000%
165.00000
160,781.05
4.218.95
97.440%
0.00
0.00
0.00
0000%
165,000.00
160,78105
4,21895
97.440%
23,373,000.00
11,172,35313
12,200,646.87
47800%
280,000.00
165.68772
124,312.28
55.600%
000
000
0.00
0.000%
0.00
0.00
0.00
0000%
1,953598.00
1,247,93728
705,66072
63880%
25 608 598 00
12 575 978 13
13,03Q619 87
49.110%
36,000.00
24.94804
11,053.96
69.290%
0.00
000
0.00
0.000%
000
0.00
0.00
0000%
0.00
0.00
0.00
0000%
6,000.00
24 946 04
11 053.96
69 290%
-n'.n * 008 s
ADJUSTED
0710112008-0212812009
REMAINING
LA QUINTA REDEVELOPMENT AGENCY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
EXPENDITURE SUMMARY
PROJECT AREA NO 1:
LOW/MODERATE TAX FUND:
1,10000
000
000
1,10000
PERSONNEL
SERVICES
337,86900
215,60019
000
122,2W 81
BUILDING HORIZONS
000
275,00000
000
134,93500
000
000
000
140,06500
LQ RENTAL PROGRAM
000
000
000
000
2n0 TRUST DEED PROGRAM
0.00
000
000
000
BUILDING HORIZONS
LANDACQUISITION
4,37145300
4,130,70850
000
240,74450
LOW MOD HOUSING PROJECTS
000
450,00000
000
189.41173
000
000
000
260,58827
FORECLOSURE
REIMBURSEMENT TO GEN FUND
0 0
228
1z49293744
TRANSFERS OUT
44�479W
295�'5�4856
DUO
TOTAL LOW/MOD TAX
DEBT SERVICE FUND:
CAPITAL IMPROVEMENT FUND:
SERVICES
BOND PRINCIPAL
SONDINTEREST
INTEREST CITY ADVANCE
PASS THROUGH PAYMENTS
ERAF SHIFT
TRANSFERS OUT
TOTAL
PERSONNEL
SERVICES
LAND ACQUISITION
ASSESSMENT DISTRICT
ADVERTISING -ECONOMIC DEV
ECONOMIC DEVELOPMENT
BOND ISSUANCE COSTS
CAPITAL - BUILDING
REIMBURSEMENT TO GEN FUND
TRANSFERS OUT
TOTAL CAPITAL IM
487,92840
000
75,97160
2,960,000 00
000
000
3,709,24513
000
3,620,9438
680.000 00
000
340,000 X
11,826.32746
0 DO
12.590,621 !
000
000
4,850.6870
110000
000
000
1, 10000
935:215 00
436,708 64
000
498,506 36
000
0 00
0.00
000
000
000
000
000
000
000
000
000
000
000
000
000
000
0.00
000
000
9,00000
000
000
9,00000
l94 HA3 n0
196.589 36
000
98,293 64
009 4
LA OUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO 2:
ADJUSTED 0710112008-02128/2009 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
LOWIMODERATE TAX FUND:
70000
000
000
700 DO
PERSONNEL
621,6 7600
327,10919
000
294,56681
SERVICES
0.00
000
000
000
2ND TRUST DEEDS
000
2,27500
0DO
(2,27500)
LOW MOD HOUSING PROJECTS
100,00000
000
000
100,0D000
FORECLOSURE ACQUISITION
50,00000
0DO
000
50,00000
VISTA DUNES PARK
000
(88800)
000
88800
LAND ACQUISITION
REIMBURSEMENT TO GEN FUND
360,60400
240.40328
000
000
120,20072
371766006
TRANSFERS OUT
4780,7121
1063081911
TOTAL LOWIMOD TAX
2004 LOW/MODERATE BOND FUND
3,052,80000
1,89000000
000
1,162,80000
HOUSING PROGRAMS
000
000
000
000
LAND
TRANSFERS OUT
1239020200
950995950
000
288024250
TOTAL LOWIMOD BOND
-
DEBT SERVICE FUND:
25052500
262.80560
000
(12,28160)
SERVICES
115:00000
115,00000
000
000
BOND PRINCIPAL
305,184 DO
153,87125
000
151,31275
BOND INTEREST
INTEREST CITY ADVANCE
1,fi56,52800
1,104,35200
000
000
552,17600
9,637,27362
PASS THROUGH PAYMENTS
19,153 ' 26300
9,515,98938
1,24793728
000
,637,2736
7056E072
TRANSFERS OUT
1,95359800
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
70000
0DO
000
70000
PERSONNEL
368,76000
127.14677
000
241.61323
SERVICES
000
000
000
000
CAPITAL
ECONOMIC DEVELOPMENT ACTIVITY
000
000
40,494b4
000
000
000
20.24636
REIMBURSEMENT TO GEN FUND
6074100
39989600
000
79,10495
TRANSFERS OUT
TOTAL CAPITAL IMPROVEMENT
079105
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,„ o 11. 6
COUNCIL/RDA MEETING DATE: April 21, 2009
ITEM TITLE: Approval of a Resolution Adopting the
Fiscal Year 2009/2010 Through 2013/2014 Capital
Improvement Program and Making Certain Findings
Pursuant to Health and Safety Code Section 33445(a)
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: A
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution approving the Fiscal Year 2009/2010 through 2013/2014 Capital
Improvement Program (CIP) and making certain findings pursuant to Health and Safety
Code Section 33445(a).
FISCAL IMPLICATIONS:
Adoption of the Resolution will approve the projects identified in the Fiscal Year
2009/2010 through 2013/2014 CIP and make the necessary findings pursuant to the
Health and Safety Code for use of Redevelopment Agency (RDA) Project Area No. 1
and Project Area No. 2 funds. Allocation of funds for these projects will not be
approved until the City Council approves the Fiscal Year 2009/2010 annual operating
budget.
The first year of the five-year forecast, or capital budget, will be included in the City's
annual operating budget. When the City Council approves the annual operating budget
for Fiscal Year 2009/2010, it will also authorize the expenditure of $22,487,314 for
Fiscal Year 2009/2010 capital project expenditures.
CHARTER CITY IMPLICATIONS:
Because RDA funding will be used on several of the proposed projects, the RDA
funded projects will be bid with a requirement that the contractors pay prevailing
wage.
44 012
BACKGROUND AND OVERVIEW:
On March 17, 2009, staff presented the CIP and five-year forecast to City Council for
review during Study Session. The document is a statement of the City's goals,
objectives, and priorities for a five-year CIP and the financial commitments required to
accomplish those objectives.
The purpose of the CIP is to provide the City with a long-range program for major
municipal capital construction projects based on the systematic development of an
accompanying financial plan. The CIP 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 benefit to the public. As each annual budget
is prepared, additional projects and priority needs are identified and added to the
program to maintain a total five-year plan.
The amount allocated within the CIP for first year projects is called the capital budget
and is based on existing fund balances and projected revenues. The capital budget is
incorporated into the annual City "Operating" Budget, which appropriates funds for
specific facilities, equipment and improvements. Projects slated for subsequent years
in the program are approved on a planning basis only and do not receive expenditure
authority until they are incorporated into the capital budget. The CIP is updated
annually and can be amended at any time based on revenue availability and changes in
project priorities.
The 2008/2009 CIP identified $9,128,071 in capital improvement projects. With one
exception, all 2008/2009 projects are either completed, are currently in the design or
construction stage, or will have contracts awarded by the end of the fiscal year.
Project 200713 — Calle Estado Mid -Block Crossing cannot be constructed unless the
property owner provides an easement to the City. Staff has contacted the property
owner and has discovered that the property has been listed for sale. As such, the
property owner has declined to provide an easement for the City's use to install the
mid -block crossing. Considering the circumstances, this project has been removed
from the approved capital budget and the appropriated funding will be returned to the
RDA Project Area Number 1 account for use on other projects.
Included in the CIP document is a "Capital Improvement Program Fiscal Year
2008/2009 Project Status Report," which lists: one 1996/1997 project carried -over,
one 2000/2001 project completed, one 2001 /2002 project completed, one
2002/2003 project completed, one 2004/2005 project underway, two 2005/2006
projects underway, one 2005/2006 projects completed, seven 2006/2007 projects
underway, one 2006/2007 projects completed, six 2007/2008 projects underway,
three 2007/2008 projects completed, nine 2008/2009 projects underway, and three
,4.P 013
2008/2009 projects completed. Also included is a "Carryover Project Summary"
which provides the life -to -date expenditures for all active CIP projects.
Overall, the CIP is proposing approximately $60,940,370 in projects during the next
five years. The remaining projects represent unfunded "Additional Projects" totaling
$84,925,461 and "Developer Reimbursement Agreements" totaling $3,472,775. The
funding of projects listed within these unfunded categories will require future City
Council consideration to ensure revenue availability.
The Capital Budget proposed during Fiscal Year 2009/2010 includes $22,487,314 in
capital improvement projects. There are a total of nineteen projects identified to
receive funding. Project Number 199613-Washington Street/1-10 Interchange
Improvements is a recurring long-term commitment.
Two other projects are recurring as part of a long term plan to fill missing sidewalk
links (199702-Sidewalks-Various Locations) and to install new or upgrade existing
handicap access ramps (Project Number 199703-Handicap Access Ramp -Various
Locations) to comply with the ever evolving ADA standards.
There are sixteen new projects proposed to complete the 2009/2010 CIP. These
projects include:
200901 - Avenue 50 Bridge Improvements Spanning the All American Canal
200902 - Madison Street (Avenue 50 to Avenue 52)
200903 -Highway 1 1 1 Median Island Landscape Improvements (Adams to Jefferson)
200904 - Dune Palms Road Street Improvements (Whitewater River to Westward Ho)
200905 - Seasons Park (Installation of dog park amenities)
200906 - Adams Park Playground
200907 - Fritz Burns Park Playground
200908 - Seasons Park Playground
200909 - Pioneer Park Improvements (Improvements to dog park/new parking lot)
200910 - A Street Extension (Dune Palms Drive easterly to Komar Center)
200911 - Washington Street Apartment Rehabilitation
200912 - RDA Owned Cove Homes (Landscape conversion at 2 locations)
200913 - Relocation of the Coachella Canal at SilverRock Resort
200914 - Highway 1 1 1 Utility Undergrounding (Southside adjacent to RDA owned
property)
200915 - Drainage Improvements (Northeast corner of Simon and Washington Street)
200916 - Jefferson Street Parkway Landscaping (Vista Grande to Westward Ho)
This CIP is developed using fiscally conservative methodology as directed by the City
Council. Prior to proceeding with any project, City Staff will present the project to the
City Council for authorization.
Health and Safety Code Section 33445(a) requires the Agency to make certain
findings regarding the use of RDA funding for capital improvement and to consent to
the use of the funding. The attached resolution contains the required findings, which
are supported by the information in the report prepared for the City Council's public
hearing and by the staff presentation which will be made during the public hearing
conducted by the City Council.
FINDINGS AND ALTERNATIVES:
The alternatives available to the Agency include:
1 . Adopt a Resolution approving the Fiscal Year 2009/2010 through 2013/014
Capital Improvement Program and making certain findings pursuant to Health
and Safety Code Section 33445(a); or
2. Do not adopt a Resolution approving the Fiscal Year 2009/2010 through
2013/2014 Capital Improvement Program and making certain findings pursuant
to Health and Safety Code Section 33445(a); or
3. Provide staff with alternative direction.
Respectfully submitted,
mothy R on o , P.E.
Public Wo it for/City Engineer
Approved for submission by:
/- zz�&, c
Thomas P. Genovese, Executive Director
015
RESOLUTION NO. RA 2009-
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA, CALIFORNIA,
ADOPTING THE FISCAL YEAR 2009/2010 THROUGH
2013/2014 CAPITAL IMPROVEMENT PLAN AND MAKING
CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY
CODE SECTION 33445(a) AND CONSENTING TO THE
EXPENDITURE OF FUNDS FOR THE IMPROVEMENTS
WHEREAS, pursuant to Government Code Section 66002, the La Quinta
Redevelopment Agency ("Agency") 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 2009/2010 through 2013/2014 Plan proposes
approximately $60,940,370 in improvement projects and $84,925,461 of
unfunded additional improvement projects over the five-year period, commencing
on July 1, 2009 and ending June 30, 2014; and
WHEREAS, the amount allocated from the Plan for first -year projects, called
the capital budget, proposes $22,487,314 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 to completely and fully fund the improvements identified within
the capital budget; and
...0 016
Resolution No. RA 2009-
Capital Improvement Plan
Adopted: April 21, 2009
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 Areal as well as to afford an opportunity to eliminate
conditions of blight in the Project Area; and
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. 2 (Project Areal 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 2009/2010
through 2013/2014 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 2009/2010 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
2009/2010 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. The proposed improvements identified within the Fiscal Year
2009/2010 Capital Budget are of benefit to the Redevelopment
Agency Project Area No. 2 and to the immediate neighborhoods in
which the improvements will be located.
C. No other reasonable means of financing the improvements are
available to the community.
''A 017
Resolution No. RA 2009-
Capital Improvement Plan
Adopted: April 21, 2009
Page 3
D. The proposed improvements identified within the Fiscal Year
2009/2010 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 2009/2010 operating
budget, which appropriates funds for specific facilities, equipment and
improvements.
PASSED, APPROVED and ADOPTED at a regular meeting of the Agency held
on this 21" day of April 2009, by the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
TOM KIRK, Chairperson
City of La Quinta, California
ATTEST:
VERONICA J. MONTECINO, CMC, Agency Secretary
City of La Quinta, California
(Seal)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Agency Counsel
City of La Quinta, California
It. .(� 018
ATTACHMENT 1
I•-•1? 019
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COUNCIL/RDA MEETING DATE: April 21, 2009
ITEM TITLE: Adoption of a Resolution of the
Redevelopment Agency Approving a Purchase and Sale
Agreement Between the Redevelopment Agency and
Susan E. Slater, for Property Located at 46-130 Dune
Palms Road (APN: 600-030-002)
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION: _
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution of the La Quinta Redevelopment Agency approving the form of the
Agreement for Purchase and Sale and Escrow Instructions, subject to further changes
and/or modifications as approved by the Executive Director and Agency legal counsel.
FISCAL IMPLICATIONS:
This purchase will result in the expenditure of up to $330,000; funds were
appropriated in 2007, which are contained in the Capital Improvement Program for this
Project.
BACKGROUND AND OVERVIEW:
In September 2005, the Redevelopment Agency directed staff to contact property
owners in the Dune Palms Road corridor (north of the Whitewater River and south of
Westward Ho Drive) (Attachment 1) to ascertain their interest in selling their property.
The Agency was interested in purchasing six properties in this area to accommodate a
SilverRock Resort well site, to accommodate widening Dune Palms Road (the widened
roadway alignment would be within feet of the front entries of these residences), and
to develop the remaining land with affordable housing. Four of the property owners
expressed interest in selling their property; the Agency has subsequently acquired
these properties and successfully relocated these households.
Staff has been meeting and negotiating the purchase of the fifth property since 2006.
In January 2009, Ms. Slater (the fifth property owner) expressed interest in concluding
negotiations and selling her property. The attached Purchase and Sale Agreement
(Attachment 2) facilitates the purchase of this 7,405 square foot parcel that is
». r, 020
developed with a single-family residence and workshop; this property fronts Dune
Palms Road. Ms. Slater has agreed to sell her property at the appraised value
($326,000) and her family will require up to $75,120 in relocation assistance. The
relocation assistance will facilitate their move to a comparable home they may
purchase in La Quinta, or along California State Highway 74 south of Palm Desert.
When acquired, the existing improvements will be demolished, the Dune Palms Road
frontage will be dedicated to the City to facilitate Dune Palms Road widening, a portion
of the property will be dedicated to the SilverRock Resort well site, and the remaining
property will be combined with the adjoining parcels. The Agency will then be
proceeding to design and structure an affordable housing development that will be
slated for special needs low and moderate income households.
FINDINGS AND ALTERNA
The alternatives available to the Agency Board include:
1. Adopt a Resolution of the Redevelopment Agency approving the form of the
Agreement for Purchase and Sale and Escrow Instructions and subject to further
changes and/or modifications as approved by the Executive Director and Agency
legal counsel; or
2. Do not adopt the Resolution approving the form of the Agreement for Purchase
and Sale; or
3. Provide staff with alternative direction.
Respectfully submitted,
n
Doug as drVvans
Assistant City Manager — Development Services
Approved for submission by:
6
Thomas P. Genovese, Executive Director
Attachments: 1. Vicinity Map
2. Purchase and Sale Agreement
.... ^ 021
RESOLUTION NO.
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA, CALIFORNIA,
APPROVING AN AGREEMENT FOR PURCHASE AND
SALE AND ESCROW INSTRUCTIONS BY AND BETWEEN
THE AGENCY AND SUSAN E. SLATER, FOR THE
AGENCY'S PURCHASE OF REAL PROPERTY FOR
AFFORDABLE HOUSING PURPOSES
WHEREAS, the La Quinta 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 Quinta
("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 & Safety Code, § 33071); and
WHEREAS, the Agency staff has negotiated an Agreement for Purchase and
Sale and Escrow Instructions ("Agreement") with Susan E. Slater ("Seller"), for the
Agency's purchase of real property located at 46-130 Dune Palms Road and known
as APN 600-030-002 (the "Property"), for Three Hundred and Twenty six
Thousand Dollars ($326,000); and
WHEREAS, the residents of the Property are entitled to relocation assistance
in the amount of approximately $75,120, 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 Quinta.
NOW, THEREFORE, BE IT RESOLVED BY THE LA QUINTA REDEVELOPMENT
AGENCY AS FOLLOWS:
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.
-" 022
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 up to $405,120 to
close the transaction contemplated by the Purchase Agreement and provide
relocation benefits from funds appropriated in 2007 in the Low and Moderate
Income Housing Fund number 401-0000-391.00-00.
the La Quinta
following vote:
AYES:
NOES:
ABSENT:
PASSED, APPROVED, AND ADOPTED at a regular meeting of
Redevelopment Agency held this day of April, 2009, by the
ABSTAIN:
TOM KIRK, Agency Chair
City of La Quinta, California
ATTEST:
VERONICA J. MONTECINO, CMC, Agency Secretary
City of La Quinta, California
APPROVED AS TO FORM:
M. KATHERINE JENSON, Agency Counsel
City of La Quinta, California
•�• ^ 023
ATTACHMENT
Attachment 1: Dune Palms Road Corridor Acquisition Status Map
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Acquired Parcels
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Previously Acquired for Well Site
Rejected Offers
024
ATTACHMENT
AGREEMENT FOR PURCHASE AND SALE AND
ESCROW INSTRUCTIONS
BY AND BETWEEN
SUSAN E. SLATER
("SELLER")
AND
LA QUINTA REDEVELOPMENT AGENCY
("BUYER")
2156/015610-0047
1005843 02 .04/14/09 025
TABLE OF CONTENTS
1. PROPERTY
Page
5. CLOSE OF ESCROW...................................................................................................... 3
5.1 Close of Escrow; Closing Date............................................................................. 3
5.2 Recordation; Release of Funds and Documents ................................................... 4
6. DELIVERY OF DOCUMENTS REQUIRED FROM BUYER AND SELLER.............4
6.1 Buyer's Obligations.............................................................................................. 4
6.2 Seller's Obligations.............................................................................................. 4
7. TITLE INSURANCE POLICY........................................................................................ 5
7.1 . Title Policy........................................................................................................... 5
7.2 Payment for Title Policy....................................................................................... 5
8. REAL PROPERTY TAXES AND ASSESSMENTS...................................................... 5
9. CONDITIONS PRECEDENT TO CLOSING................................................................. 6
9.1 Conditions Precedent to Buyer's Obligations...................................................... 6
9.2 Conditions Precedent to Seller's Obligations....................................................... 6
10. POSSESSION...................................................................................................................7
11. ALLOCATION OF COSTS............................................................................................. 8
11.1 Buyer's Costs........................................................................................................ 8
11.2 Seller's Costs........................................................................................................ 8
2156/015610-0047
1005843.02 a04/14/09
-i-
"..^ 026
12. CONDEMNATION.......
13. HAZARDOUS MATERIALS......
14. COVENANTS OF SELLER.........
Page
................................................. 8
.............................................................. 8
............................................................. 9
15. MISCELLANEOUS.........................................................................................................9
15.1
Assignment...........................................................................................................9
15.2
Notices..................................................................................................................9
15.3
Fair Meaning.......................................................................................................
10
15.4
Headings.............................................................................................................10
15.5
Choice of Laws; Litigation Matters....................................................................
10
15.6
Nonliability of Buyer Officials...........................................................................10
15.7
Gender; Number.................................................................................................10
15.8
Survival...............................................................................................................10
15.9
Time of Essence..................................................................................................10
15.10
Waiver or Modification......................................................................................
10
15.11
Broker's Fees......................................................................................................
10
15.12
Duplicate Originals.............................................................................................11
15.13
Severability.........................................................................................................11
15.14
Exhibits...............................................................................................................11
15.15
Authority.............................................................................................................11
15.16
Entire Agreement; Amendment..........................................................................
11
EXHIBITS
Exhibit A
Legal Description of Property
Exhibit B
Form of Grant Deed
Exhibit C
Affidavit of Non -Foreign Entity
Exhibit D
Bill of Sale
Exhibit E
Escrow Instructions
Exhibit F
Special Escrow Instructions
2156/015610-0047
1005843 02 a04/14/09 -11-
027
AGREEMENT FOR PURCHASE AND SALE
AND ESCROW INSTRUCTIONS
THIS AGREEMENT FOR PURCHASE AND SALE AND ESCROW INSTRUCTIONS
("Agreement") is made and entered into as of , 2009 ("Effective Date") by and
between Susan E. Slater ( "Seller") and the LA QUINTA REDEVELOPMENT AGENCY, a
public body corporate and politic ("Buyer").
RECITALS:
A. Seller represents and warrants that she is the sole and exclusive fee title owner of
that certain real property located in the City of La Quinta, County of Riverside, State of
California, commonly known as 46-130 Dune Palms Road (APN 600-030-002), more
particularly described in the legal description attached hereto as Exhibit "A" (the "Real
Property") improved with a residential dwelling, a wood working shop and other related
accessory structures and improvements (the "Improvements").
B. Buyer desires to purchase the Property (as that term is defined below) from Seller,
and Seller desires to sell the Property to Buyer, on the terms and conditions set forth herein.
C. On May 25, 2007, Buyer issued an offer letter to Seller indicating Buyer's
intention to acquire the Property; Buyer is acquiring the Property for the public purpose of
developing the Real Property as an affordable housing project. This action will cause Seller to
become a displaced person pursuant to the California Relocation Assistance Act (Cal. Govt.
Code § 7260 et seq.) and Buyer is complying with the provisions of the Relocation Assistance
Act. Seller represents that they have found property that they desire to move to, and, therefore,
have requested that the Buyer expedite the processing of this Agreement in order for Seller to
acquire property that it desires to move to.
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated
into this Agreement, and mutual covenants herein contained, the parties hereto agree as follows:
1. PROPERTY. Subject to all of the terms, conditions and provisions of this Agreement,
and for the consideration herein set forth, Seller hereby agrees to sell to Buyer and Buyer hereby
agrees to purchase from Seller the Real Property and Seller hereby agrees to sell and Buyer
hereby agrees to buy the following:
1.1 Improvements. Seller's interest in and to the Improvements and all tenements,
hereditaments and appurtenances thereto, subject to the Permitted Exceptions (as that term is
defined in Section 7.1);
1.2 Fixtures and Personal Property. Any and all fixtures and fittings that are attached
to the Real Property and Improvements, all existing electrical, mechanical, lighting, plumbing
2156/015610-0047
1005843.02 a04/14/09 -1-
.• ^ 028
and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates, solar systems, built-in
appliances, window and door screens, awnings, shutters, window coverings, attached floor
coverings, television antennas, private integrated telephone systems, air coolers/conditioners,
pool/spa equipment, garage door openers/remote controls, mailbox, in -ground landscaping,
trees/shrubs, water softeners, water purifiers, and security systems/alarms (collectively, the
"Fixtures and Personal Property").
The Real Property, the Improvements, and the Personal Property are hereinafter
collectively referred to as the "Property."
2. PURCHASE PRICE.
2.1 Amount. The purchase price which Seller agrees to accept and Buyer agrees to
pay for the Property is the sum of THREE HUNDRED TWENTY-SIX THOUSAND
DOLLARS ($326,000.00) ("Purchase Price"). The parties agree that with the exception of
relocation benefits referenced in Section 3, below, the Purchase Price reflects the full payment
that Seller will receive from Buyer for the Property.
2.2 Payment of Purchase Price. On or before 5:00 p.m. on the business day preceding
the "Closing Date" (as that term is defined in Section 5.1) or such earlier time as required by
"Escrow Holder" in order to close "Escrow" (as those terms are defined in Section 4.1) on the
Closing Date, Buyer shall deposit with Escrow Holder the Purchase Price.
3. RELOCATION ASSISTANCE. In addition to the Purchase Price, Buyer and Seller
agree that Seller shall be entitled to relocation assistance pursuant to California Relocation
Assistance Act (Cal. Govt. Code Sections 7260 et seq.; Relocation Assistance and Real Property
Acquisition Guidelines, California Administrative Cove Title 25), in accordance with the terms
and amounts memorialized in a relocation benefit letter issued by the Rosenow Spevacek Group.
For reference purpose only, the total relocation assistance paid to Seller pursuant to the
relocation benefit letter is SIXTY THOUSAND DOLLARS ($60,000.00) and shall be paid and
disbursed pursuant to the terms of the relocation benefit letter.
4. ESCROW.
4.1 Opening of Escrow. Closing of the sale of the Property shall take place through
an escrow ("Escrow") to be established within three (3) business days after the execution of this
Agreement by the parties hereto, with Four Seasons Escrow, Inc. ("Escrow Holder") at its office
located at 47-350 Washington Avenue, Suite 101, La Quinta, California 92253. The opening of
the Escrow (the "Opening of Escrow") shall be deemed to be the date that a fully executed copy
of this Agreement is delivered to the Escrow Holder. Escrow Holder is instructed to notify
Buyer and Seller in writing of the date of the Opening of Escrow.
4.2 Escrow Instructions. This Agreement, once deposited in Escrow, shall constitute
the joint escrow instructions of Buyer and Seller to Escrow Holder. Additionally, if Escrow
Holder so requires, Buyer and Seller agree to execute the form of escrow instructions that
Escrow Holder customarily requires in real property escrows administered by it. In the event of
any conflict or inconsistency between Escrow Holder's standard instructions and the provisions
of this Agreement, the provisions of this Agreement shall supersede and be controlling. The
2156/015610-0047
1005843 02 a04/14/09 -2-
-. ^ 029
parties additionally agree to the Escrow Holder's standard terms, a copy of which is attached
hereto as Exhibit E and to the additional supplemental instructions contained in Exhibit F.
TITLE MATTERS. Buyer shall obtain a preliminary title report prepared by Old Republic Title
Company ("Title Company"), located at 750 B Street Suite 3150, San Diego, CA 92101,
describing the state of title of the Property together with copies of all underlying documents and
a map of plotted easements (collectively, the "Preliminary Title Report"). Buyer may, at its sole
cost and expense, obtain a current survey of the Property (the "Survey"). Notwithstanding
anything herein to the contrary, Seller shall be obligated to remove all monetary encumbrances
against the Property excluding non -delinquent real property taxes (except as otherwise provided
for in Section 8 below). Buyer shall notify Seller in writing of any objections Buyer may have to
title exceptions contained in the Preliminary Title Report or matters shown on the Survey (if
Buyer has obtained) no later than the date which is fifteen (15) days after the later of (i) its
receipt of the Preliminary Title Report or (ii) its receipt of the Survey ("Buyer's Objection
Notice"). Buyer's approval or disapproval of the matters set forth in the Preliminary Title Report
(and the Survey, if applicable) may be granted or withheld in Buyer's sole and absolute
discretion. Buyer's failure to provide Seller with a Buyer's Objection Notice within said period
shall constitute Buyer's approval of all exceptions to title shown on the Preliminary Title Report
and all matters shown on the Survey (if Buyer has obtained). Seller shall have a period of five
(5) days after receipt of Buyer's Objection Notice in which to deliver written notice to Buyer
("Seller's Notice") of Seller's election to either (i) agree to remove the objectionable items on
the Preliminary Title Report or Survey prior to the Close of Escrow, or (ii) decline to remove any
such title exceptions or Survey matters and terminate Escrow and the obligations of Buyer and
Seller to purchase and sell the Property under this Agreement. Seller's failure to provide Buyer
with Seller's Notice within said period shall constitute Seller's election to remove the
objectionable items on the Preliminary Title Report. If Seller notifies Buyer of its election to
terminate rather than remove the objectionable items on the Preliminary Title Report or Survey,
Buyer shall have the right, by written notice delivered to Seller within five (5) days after Buyer's
receipt of Seller's Notice, to agree to accept the Property subject to the objectionable items, in
which event Seller's election to terminate shall be of no effect, and Buyer shall take title at the
Close of Escrow subject to such objectionable items without any adjustment to or credit against
the Purchase Price. All exceptions to title shown on the Preliminary Title Report, other than
those which Seller may agree to remove pursuant to this Section 5, shall be deemed to have been
approved by Buyer unless Seller is notified otherwise in writing.
Upon the issuance of any amendment or supplement to the Preliminary Title
Report which adds additional exceptions, including any survey exceptions, the foregoing right of
review and approval shall also apply to said amendment or supplement. The process set forth
above for Buyer's review and Seller's response shall apply to any review and response with
respect to any amendment or supplement to the Preliminary Title Report, and the Closing shall
be extended for such period as is necessary to allow for that review and response process to be
completed.
5. CLOSE OF ESCROW.
5.1 Close of Escrow; Closing Date. Provided that all of the conditions of this
Agreement precedent to the "Close of Escrow" (as hereinafter defined) as set forth in Section 9
below have been satisfied (or waived by the appropriate party) prior to or on the Closing Date,
2156/015610-0047
1005843.02 a04/14109 -3-
the Closing of this transaction for the sale and purchase of the Property shall take place on or
before May 29,2009 ("Outside Closing Date"). Notwithstanding the foregoing, if Buyer and
Seller agree to advance the Closing, and so long as all of "Buyer's Conditions to Closing" and all
of "Seller's Conditions to Closing" (as those terms are defined in Section 9) have been satisfied
(or waived by the appropriate party), Seller and Buyer may elect to authorize the Closing before
the Outside Closing Date. The terms "Close of Escrow", "Closing Date" and the "Closing" are
used herein to mean the time Seller's grant deed conveying fee title to the Property to Buyer is
recorded in the Official Records of the Office of the County Recorder of Riverside ("Official
Records"). If Escrow is not in a condition to close by the Outside Closing Date, either party not
then in default hereunder may, upon five (5) days advance written notice to the other party and
Escrow Holder, elect to terminate this Agreement and the Escrow. No such termination shall
release either party then in default from liability for such default. If neither party so elects to
terminate this Agreement and the Escrow, Escrow Holder shall close the Escrow as soon as
possible.
5.2 Recordation; Release of Funds and Documents.
5.2.1 Escrow Holder is directed, on the Closing Date, to record in the Official
Records, the following documents in the order listed: (i) the Quitclaim Deed (defined below)
signed and acknowledged by Seller's spouse (in a form and content provided by the Escrow
Holder); (i) the grant deed (in the form attached hereto as Exhibit `B") transferring title to the
Property to Buyer ("Grant Deed"); and (ii) such other and further documents as may be directed
jointly by Buyer and Seller.
5.2.2 Upon the Closing, Escrow Holder shall deliver (i) the Purchase Price, less
any amount to pay property taxes and/or assessments allocable to Seller pursuant to Section 8,
and (ii) conformed copies of all recorded documents to both Buyer and Seller.
6. DELIVERY OF DOCUMENTS REQUIRED FROM BUYER AND SELLER.
6.1 Buyer's Obligations. Buyer agrees that on or before 5:00 p.m. of the last business
day immediately preceding the Closing Date, Buyer shall deposit or cause to be deposited with
Escrow Holder the following:
(a) the Purchase Price; and
(b) any and all additional funds, instruments or other documents required
from Buyer (executed and acknowledged where appropriate) as may be reasonably necessary in
order for the Escrow Holder to comply with the terms of this Agreement.
6.2 Seller's Obligations. Seller agrees that on or before 5:00 p.m. of the last business
day immediately preceding the Closing Date, Seller shall deposit or cause to be deposited with
Escrow Holder each of the following:
(a) the executed and acknowledged Grant Deed, subject only to the Permitted
Exceptions (defined hereafter);
2156/015610-0047
1005843 02 a04/14/09 -4- 031
(b) a Certificate of Non -Foreign Status (the "Non -Foreign Affidavit")
executed and acknowledged by Seller in the form attached hereto as Exhibit "C' ;
(c) a Bill of Sale (the "Bill of Sale") executed and acknowledged by Seller in
the form attached hereto as Exhibit "D'; and
(d) a quitclaim deed, signed by Seller's spouse and acknowledged, in a form
and content provided by the Escrow Holder, stating that Seller's spouse relinquishes any right,
title, or interest he may have in the Property ("Quitclaim Deed").
(e) all other funds, items, and instruments required from Seller (executed and
acknowledged where appropriate) as may be reasonably necessary in order for Escrow Holder to
comply with the provisions of this Agreement.
7. TITLE INSURANCE POLICY.
7.1 Title Policy. At the Closing Date, the Title Company, as insurer, shall issue a
CLTA owner's standard coverage policy of title insurance ("Title Policy"), in favor of Buyer, as
insured, showing Buyer as fee title owner of the Property, with liability in the amount of the
Purchase Price, subject only to the following (the "Permitted Exceptions"):
(a) non -delinquent real property taxes, subject to Seller's obligations to pay
certain taxes pursuant to Section 8 below;
(b) covenants, conditions, restrictions and reservations of record that do not
interfere with the Buyer's proposed use of the Property, as determined in the sole and absolute
discretion of Buyer;
(c) easements or rights -of -way over the Property for public or quasi -public
utility or public street purposes;
(d) title exceptions approved or deemed approved by Buyer pursuant to
Section 4.2 above;
(e) any other exceptions approved by Buyer; and
(f) the standard printed conditions and exceptions contained in the CLTA
standard owner's policy of title insurance regularly issued by the Title Company.
7.2 Payment for Title Policy. Buyer shall be responsible for the charges for the Title
Policy with coverage up to the amount of the Purchase Price. Buyer shall pay any additional
coverage or endorsements it requests. Buyer may, at its election and expense, request an ALTA
extended policy of title insurance. Buyer shall also pay for the Survey, if applicable.
8. REAL PROPERTY TAXES AND ASSESSMENTS. Upon Buyer's acquisition of fee
title to the Property, the Property will be exempt from the payment of property taxes due to
Buyer's status as a public agency. Seller shall be responsible for paying (through Escrow at
Closing) all real and personal property taxes and assessments which are of record as of the
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Closing Date and/or have accrued against the Property prior to (and including) the Closing Date
(notwithstanding whether such taxes and/or assessments are due and payable as of the Closing
Date). Buyer hereby acknowledges and agrees that Buyer will provide the funds necessary to
completely payoff, at Closing, any amounts outstanding under the City of La Quinta Assessment
District 2000-1. Seller shall be responsible for paying for all real or personal property taxes or
assessments assessed against the Property after the Closing for any period prior to the Closing.
9. CONDITIONS PRECEDENT TO CLOSING.
9.1 Conditions Precedent to Buyer's Obligations. The obligations of Buyer under this
Agreement to purchase the Property and close the Escrow shall be subject to the satisfaction or
signed written waiver by Buyer of each and all of the following conditions precedent
(collectively, "Buyer's Conditions to Closing"):
(a) on the Closing Date, the Title Company shall be irrevocably committed to
issue the Title Policy pursuant to Section 7 above insuring fee title to the Property as being
vested in Buyer, subject only to the Permitted Exceptions;
(b) Escrow Holder holds all instruments, documents, and funds required for
the Closing and will deliver to Buyer the instruments and funds, if any, accruing to Buyer
pursuant to this Agreement;
(c) except as otherwise permitted by this Agreement, all representations and
warranties by the Seller in this Agreement shall be true on and as of the Closing Date as though
made at that time and all covenants of Seller pursuant to this Agreement shall have been fulfilled
by the Closing Date;
(d) Seller is not in material default of any term or condition of this
Agreement;
(e) as of the Closing Date, no judicial or administrative challenges have been
presented or filed against the Agency or the City of La Quinta's actions in connection with
developing the Real Property as an affordable housing project, including, without limitation, any
challenge to environmental approvals or financing methods; and
In the event that any of Buyer's Conditions to Closing are not satisfied, deemed satisfied,
or waived in a writing signed by Buyer prior to the expiration of the applicable period for
satisfaction or waiver, Buyer may terminate this Agreement.
9.2 Conditions Precedent to Seller's Obligations. The obligations of Seller under this
Agreement shall be subject to the satisfaction or signed written waiver by Seller of each and all
of the following conditions precedent ("Seller's Conditions to Closing"):
(a) Escrow Holder holds the Purchase Price and all other instruments,
documents, and funds required for the Closing and will deliver to Seller the instruments and
funds, including but not limited to the Purchase Price (less Seller's closing costs) accruing to
Seller pursuant to this Agreement;
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(b) except as otherwise permitted by this Agreement, all representations and
warranties by the Buyer in this Agreement shall be true on and as of the Closing Date as though
made at that time and all covenants of Buyer pursuant to this Agreement shall have been fulfilled
by the Closing Date; and
(c) Buyer is not in material default of any term or condition of this
Agreement.
In the event that any of Seller's Conditions to Closing are not satisfied, deemed satisfied,
or waived in a writing signed by Seller prior to the expiration of the applicable period for
satisfaction or waiver, Seller may terminate this Agreement.
10. POSSESSION. After the Close of Escrow, Buyer agrees to allow Seller to remain in
possession of the Property up to and including the earlier of the following dates: (1) one hundred
twenty (120) days after the Close of Escrow, or (2) the date when Seller surrenders possession of
the Property to Buyer (the "Holdover Period"). Seller agrees that on or before that date, Seller
shall surrender the Property to the City. Seller's right of possession under this provision shall
not be transferable and may only be utilized by Seller and Seller's immediate family. Seller shall
coordinate the delivery of keys and transfer of possession with the Public Works Department of
the City of La Quinta or its designee. During the Holdover Period, Seller shall pay rent to Buyer
in the amount of ONE THOUSAND DOLLARS ($1,000) per month ("Rent"). Rent shall be due
and payable, in advance, on the first day of each month, except that if the Close of Escrow
occurs on a day other than the first of the month then Rent shall be prorated for the number of
days remaining in that month and the number of days in the last month of the Holdover Period.
Additionally, during the Holdover Period, Seller shall be responsible for the payment of all
utilities, telephone, waters, alarm systems, gardening services, landscape maintenance and such
other charges as those normally paid by a month -to -month tenant of residential property. Prior to
the transfer of possession, Seller shall coordinate with Buyer as to the cancellation and/or
transfer of any ongoing services, such as utilities. Seller shall take no action which would result
in a lien or assessment being recorded against or imposed upon the Property. Seller may wish to
obtain renters insurance and any other insurance Seller deems necessary to protect Seller's
interests and the interests of Seller's family. Seller understands that Buyer is in no way
providing any insurance coverage that would extend protection to Seller or Seller's family.
During the holdover period, the Seller shall maintain the property in its current condition, normal
wear and tear excepted. Seller accepts the Property during this period in its "AS IS" condition,
and Buyer makes no representations or warranties as to the conditions of the Property. Seller
acknowledges that up until the transfer of possession, Buyer has not inspected the Property and
Buyer shall have no liability arising from the condition or use of the Property during the
holdover period. Seller, on behalf of Seller and Seller's family, hereby waives and releases the
Buyer, its employees and agents from any and all liability and claims for damages, including
property damage, bodily injury, or death, which arise the condition, use, occupancy of the
Property during the holdover period. Should any claim be made against the Buyer, its employees
or agents (the "Indemnified Parties") for damages, including property damage, bodily injury, or
death, which arise from the condition, use, or occupancy of the Property, or occur on the
Property, during the holdover period, Seller shall defend and indemnify the Indemnified Parties
and promptly pay any judgment rendered against them.
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11. ALLOCATION OF COSTS.
11.1 Buyer's Costs. Buyer shall pay all closing costs associated with this Agreement
and the conveyance of the Property from Seller to Buyer, including any and all escrow and title
fees, recording fees, documentary transfer tax, the premium for the Title Policy (plus any
additional fee for ALTA extended coverage and/or title endorsements requested by Buyer), and
Buyer's own attorney's fees in connection with this Agreement and the transactions
contemplated hereby.
11.2 Seller's Costs. Seller shall pay Seller's own attorney's fees, if any, in connection
with this Agreement and the transactions contemplated hereby.
12. CONDEMNATION. In the event that, prior to the Close of Escrow, any governmental
entity (other than the City) shall commence any proceedings of or leading to eminent domain or
similar type proceedings to take all or any portion of the Property, Buyer or Seller shall promptly
meet and confer in good faith to evaluate the effect of such action on the purposes of this
Agreement.
13. HAZARDOUS MATERIALS. To the best of Seller's knowledge, the Property has not at
any time been used for the purposes of storing, manufacturing, releasing or dumping Hazardous
Materials. For purposes of this Agreement, the term "Hazardous Materials" shall mean (1)
hazardous wastes, hazardous materials, hazardous substances, hazardous constituents, toxic
substances or related materials, whether solids, liquids or gases, including, but not limited to,
substances deemed as "hazardous wastes," "hazardous materials," "hazardous substances,"
"toxic substances," "pollutants," "contaminants," "radioactive materials," or other similar
designations in, or otherwise subject to regulation under, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended ("CERCLA"), 42 U.S.C. § 9601
et seq.; the Toxic Substance Control Act ("TSCA"), 15 U.S.C. § 2601 et seq.; the Hazardous
Materials Transportation Act, 49 U.S.C. § 1802; the Resource Conservation and Recovery Act
("RCRA"), 42 U.S.C. § 9601, et seq.; the Clean Water Act ("CWA"), 33 U.S.C. § 1251 et seq.;
the Safe Drinking Water Act, 42 U.S.C. § 300 et seq.; the Clean Air Act ("CAA"), 42 U.S.C. §
7401 et seq.; the Hazardous Waste Control Law, California Health and Safety Code § 25025 et
seq., the Carpenter -Presley -Tanner Hazardous Substance Account Act, California Health and
Safety Code, Division 20, Chapter 6.8, the Hazardous Materials Release Response Plans and
Inventory Act, California Health and Safety Code, Division 20, Chapter 6.95, The Underground
Storage of Hazardous Substances Act, California Health and Safety Code, Division 20, Chapter
6.7, the Porter -Cologne Act, California Water Code § 13050 et seq. and in any permits, licenses,
approvals, plans, rules, regulations or ordinances adopted, or other criteria and guidelines
promulgated pursuant to the preceding laws or other similar federal, state or local laws,
regulations, rules or ordinances now or hereafter in effect relating to environmental matters
(collectively the "Environmental Laws"); and (ii) any other substances, constituents or wastes
subject to any applicable federal, state or local law, regulation, ordinance or common law
doctrine, including any Environmental Law, now or hereafter in effect, including, but not limited
to, (A) petroleum, (B) refined petroleum products, (C) waste oil, (D) waste aviation or motor
vehicle fuel, (E) asbestos, (F) lead in water, paint or elsewhere, (G) radon, (H) polychlorinated
biphenyls (PCB's) and (I) ureaformaldehyde.
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14. COVENANTS OF SELLER. Seller agrees that during the period between the Effective
Date of this Agreement and the Closing Date:
(a) Seller shall maintain the Property in not less than the state of repair as that
existing on the Effective Date (excepting ordinary wear and tear);
(b) Seller shall not convey, grant, lease, assign, mortgage, hypothecate, encumber, or
otherwise transfer (on or off record) the Property or any interest therein;
(c) Prior to Closing, Seller shall maintain Seller's existing insurance, if any, on the
Property; and
(d) Prior to the Closing, Seller shall not alter the physical condition of the Property or
introduce or release, or permit the introduction or release, of any Hazardous Materials in, from,
under, or on the Property.
15. MISCELLANEOUS.
15.1 Assignment. This Agreement shall be binding upon and shall inure to the benefit
of Buyer and Seller and their respective heirs, personal representatives, successors and assigns.
Seller may not assign or otherwise transfer this Agreement or any interest or right hereunder or
under the Escrow without the prior written consent and approval of the Buyer, which consent and
approval may be withheld in the Buyer's sole and absolute discretion. No provision of this
Agreement is intended nor shall in any way be construed to benefit any party not a signatory
hereto or to create a third party beneficiary relationship.
15.2 Notices. All notices under this Agreement shall be effective upon personal
delivery, via facsimile so long as the sender receives confirmation of successful transmission
from the sending machine, or three (3) business days after deposit in the United States mail,
registered, certified, postage fully prepaid and addressed to the respective parties as set forth
below or as to such other address as the parties may from time to time designate in writing:
To Seller: Susan E. Slater
46-130 Dune Palms Road
La Quinta, California 92253
Telephone: (760) 221-8695
To Buyer: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Attn: City Manager
Facsimile No.: (760) 777-7101
Copy to: Rutan & Tucker, LLP
611 Anton Boulevard, Suite 1400
Costa Mesa, California 92628-1950
Attn: M. Katherine Jenson, Esq.
Facsimile No.: (714) 546-9035
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N..
15.3 Fair Meaning. This Agreement shall be construed according to its fair meaning
and as if prepared by both parties hereto.
15.4 Headings. The headings at the beginning of each numbered Section of this
Agreement are solely for the convenience of the parties hereto and are not a part of this
Agreement.
15.5 Choice of Laws; Litigation Matters. This Agreement shall be governed by the
internal laws of the State of California and any question arising hereunder shall be construed or
determined according to such law. The Municipal and Superior Courts of the State of California
in and for the County of Riverside, or such other appropriate court in such county, shall have
exclusive jurisdiction of any litigation between the parties concerning this Agreement. Service
of process on Buyer shall be made in accordance with California law. Service of process on
Seller shall be made in any manner permitted by California law and shall be effective whether
served inside or outside California.
15.6 Nonliabilit of Officials. No officer, official, member, employee, agent, or
representatives of Buyer shall be liable for any amounts due hereunder, and no judgment or
execution thereon entered in any action hereon shall be personally enforced against any such
officer, official, member, employee, agent, or representative.
15.7 Gender; Number. As used in this Agreement, masculine, feminine, and neuter
gender and the singular or plural number shall be deemed to include the others wherever and
whenever the context so dictates.
15.8 Survival. This Agreement and all covenants to be performed after the Closing,
and, except as otherwise set forth herein, all representations and warranties contained herein,
shall survive the Closing Date and shall remain a binding contract between the parties hereto.
15.9 Time of Essence. Time is of the essence of this Agreement and of each and every
tern and provision hereof, it being understood that the parties hereto have specifically negotiated
the dates for the completion of each obligation herein.
15.10 Waiver or Modification. A waiver of a provision hereof, or modification of any
provision herein contained, shall be effective only if said waiver or modification is in writing,
and signed by both Buyer and Seller. No waiver of any breach or default by any party hereto
shall be considered to be a waiver of any breach or default unless expressly provided herein or in
the waiver.
15.11 Broker's Fees. Seller and Buyer represent and warrant to the other that neither
Buyer nor Seller has employed any broker and/or finder to represent its interest in this
transaction. Each party agrees to indemnify and hold the other free and harmless from and
against any and all liability, loss, cost, or expense (including court costs and reasonable
attorney's fees) in any manner connected with a claim asserted by any individual or entity for
any commission or finder's fee in connection with the conveyance of the Property arising out of
agreements by the indemnifying party to pay any commission or finder's fee.
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15.12 Duplicate Originals. This Agreement may be executed in any number of
duplicate originals, all of which shall be of equal legal force and effect.
15.13 Severabilitv. If any term, covenant or condition of this Agreement or the
application thereof to any person, entity, or circumstance shall, to any extent, be invalid or
unenforceable, the remainder of this Agreement, or the application of such term, covenant, or
condition to persons, entities, or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby and each term, covenant or condition of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
15.14 Exhibits. The following exhibits are attached hereto and incorporated herein by
this reference:
Exhibit "A"
Legal Description of Property
Exhibit `B"
Grant Deed
Exhibit "C"
Non -Foreign Affidavit
Exhibit "D"
Bill of Sale
Exhibit "E"
Escrow Instructions
Exhibit "F"
Special Escrow Instructions
15.15 Authority. The person(s) executing this Agreement on behalf of each of the
parties hereto represent and warrant that (i) such party is duly organized and existing, (ii) they
are duly authorized to execute and deliver this Agreement on behalf of said party, (iii) by so
executing this Agreement such party is formally bound to the provisions of this Agreement, and
(iv) the entering into this Agreement does not violate any provision of any other agreement to
which such party is bound.
15.16 Entire Agreement: Amendment. Except as set forth above, this Agreement and
the exhibits incorporated herein contain the entire agreement of Buyer and Seller with respect to
the matters contained herein, and no prior agreement or understanding pertaining to any such
matter shall be effective for any purpose. No provisions of this Agreement may be amended or
modified in any manner whatsoever except by an agreement in writing signed by duly authorized
officers or representatives of each of the parties hereto.
[END -- SIGNATURE PAGE FOLLOWS]
2156/015610-0047
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IN WITNESS WHEREOF, Buyer and Seller each hereby represents that it has read this
Agreement, understands it, and hereby executes this Agreement to be effective as of the day and
year first written above.
ATTEST:
Veronica J Montecino, CMC, City Clerk
APPROVED AS TO FORM:
RUTAN & TUCKER, LLP
in
M. Katherine Jenson, Agency Counsel
SELLER:
SUSAN E. SLATER
I:1IVAD1
LA QUINTA REDEVELOPMENT AGENCY,
a public body corporate and politic
am
Thomas P. Genovese, Executive Director
[end of signatures]
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Four Seasons Escrow, Inc., agrees to act as Escrow Holder in accordance with the terms of this
Agreement that are applicable to it.
2156/015610-0047
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Four Seasons Escrow, Inc.
i
.n
Its:
-13-
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EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
APN: 600-030-002
That portion of the Northeast Quarter of Section 29, township 5 South, Range 7 East, in the
County of Riverside, State of California, according to official plat thereof, described as follows:
To be inserted
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EXHIBIT °B"
FORM OF GRANT DEED
[SEE ATTACHED]
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042
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
LA QUINTA REDEVELOPMENT AGENCY
78-495 Calle Tampico
La Quinta, CA 92253
Attn: Executive Director
SPACE ABOVE THIS LINE FOR RECORDER'S USE
(Exempt from Recordation Fee per Gov. Code § 6103)
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Susan E. Slater, a married woman, as her sale and separate property and not as community
property, hereby grants to the LA QUINTA REDEVELOPMENT AGENCY, a public body
corporate and politic, that certain real property located in the City of La Quinta, County of
Riverside, State of California, legally described on Attachment No. 1, which is attached hereto,
and incorporated herein by this reference, subject to all matters of record.
Dated: 2009
SUSAN E. SLATER, a married woman, as her
sole and separate property and not as
community property
2156/015610-0047
1005843.02 a04/14/09 2
043
State of California )
County of
On
before me,
(insert name and title of the officer)
personally appeared , who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature (Seal)
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044
ATTACHMENT NO. 1
LEGAL DESCRIPTION OF PROPERTY
APN: 600-030-002
That portion of the Northeast Quarter of Section 29, township 5 South, Range 7 East, in the
County of Riverside, State of California, according to official plat thereof, described as follows:
To be inserted.
2156/01561M047
1005843 02 a04/14/09 Attachment 1 to Grant Deed 045
CERTIFICATE OF ACCEPTANCE
THIS IS TO CERTIFY that the interest in real property conveyed by a Grant Deed dated
, from Susan E. Slater, a married woman, as her sole and separate
property, to the La Quinta Redevelopment Agency, a public body corporate and politic
("Agency"), is hereby accepted by the Agency by the signature of the undersigned agent on
behalf of the Agency pursuant to the authority conferred upon him by Resolution of the
Agency, adopted on , 2009, and that the Agency, as the Grantee, by its said duly
authorized agent, hereby consents to the recordation thereof.
DATED:
LA QUINTA REDEVELOPMENT AGENCY,
public body corporate and politic
By:
Name: Thomas P. Genovese
Executive Director, La Quinta Redevelopment
Agency
I HEREBY ATTEST to the authenticity of the foregoing signature and to the said adoption of
the said Resolution of his general authority to so act and certify that said authority
has not been revoked by any subsequent Resolution or order of the Agency.
DATED:
Veronica J. Montecino, CMC, Agency Secretary, La Quinta Redevelopment Agency
47
10058 3.02.0 /14 Attachment 1 to Grant Deed
1005843.02 a04/14/09 046
EXHIBIT "C"
AFFIDAVIT OF NON -FOREIGN ENTITY
TO: LA QUINTA REDEVELOPMENT AGENCY ("Buyer")
The Internal Revenue Code of 1954 ("Code") (26 U.S.C. Sections 1445, 7701) provides that a
transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person.
To inform the transferee that withholding of tax is not required upon transfer of that certain U.S.
real property interest described in Exhibit "A" to the Agreement for Purchase and Sale and
Escrow Instructions dated , 2009, and incorporated herein by reference
("Property"), that the undersigned ("Seller") hereby certifies the following:
Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as
those terms are defined in the Internal Revenue Code and Income Tax Regulations); and
2. The U.S. taxpayer identification number for Seller is ;and
The address for mailing purposes of Seller is:
and
4. Seller understands that this certification may be disclosed to the Internal Revenue Service
by Buyer and that any false statement contained herein could be punished by fine,
imprisonment, or both.
Under penalty of perjury, I declare that I have examined this Certification and to the best of my
knowledge and belief, it is true, correct, and complete, and I further declare that I have authority
to sign this document on behalf of Seller.
Dated: 2009 SELLER:
SUSAN E.SLATER
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1005843 02 a04/14/09 047
EXHIBIT "D"
BILL OF SALE
SUSAN E. SLATER, a married woman, as her sole and separate property and not as
community property (the "Seller"), in consideration of good and valuable consideration in hand
paid by LA QUINTA REDEVELOPMENT AGENCY (the "Buyer"), the receipt and sufficiency
of which is hereby acknowledged, does by these presents release, transfer, bargain, sell, assign
and convey unto the Buyer, its successors and assigns, all of the Personal Property as such is
defined in that certain Agreement for Purchase and Sale and Escrow Instructions between Seller
and Buyer executed 2009, as such may have been amended.
Seller does hereby represent and warrant that all such property is free and clear of all
security interests, liens and encumbrances other than those assumed by Buyer and in good
working order and condition. Seller does hereby covenant with Buyer that it has good right to
sell, transfer, convey and assign all of right, title and interest in the same to Buyer and will
warrant and defend the same in favor of Buyer, its successors and assigns.
IN WITNESS WHEREOF, the Seller has caused these presents to be signed as of this
day of 2009.
SELLER:
SUSAN E. SLATER
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1005843 02.04/14/09
EXHIBIT "E"
ESCROW INSTRUCTIONS
[TO BE INSERTED ONCE RECEIVED FROM ESCROW CO]
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EXHIBIT "F"
SPECIAL ESCROW INSTRUCTIONS
PRORATIONS AND/OR ADJUSTMENTS:
Escrow Holder is authorized and instructed to prorate and/or make adjustments on the
following items as of the close of escrow date:
TAXES ON REAL PROPERTY:
Prorate taxes, including all tax bill items, except taxes on personal property not conveyed
through this escrow, based on the current year's taxes, except between July ls` and the date you
are furnished current taxes, based on immediate preceding year's taxes. In each case use the
figures furnished you by the title company, without liability on your part as to their correctness.
Owner to pay prior to delinquency, supplemental tax bills, and any taxes on personal property
not being sold herein, which taxes are a lien on the real property being conveyed and you are not
to be concerned herewith.
Refund, if any, from the Riverside County Tax Collector, for refund of taxes buyer is
being debited for herein, is to be handled outside of escrow. Chicago Title Company, its officers
and employees are relieved of all responsibility and liability in connection therewith.
QUITCLAIM DEED
Escrow Holder is instructed to prepare and transmit a Quitclaim Deed to Seller's spouse
for his signature and acknowledgement, relinquishing all right, title and interest in the Property.
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