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1998 11 03 RDATW�t 4 XP 0" Redevelopment Agency Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting November 3, 1998 - 2:00 P.M. CALL TO ORDER a. Roll Call PUBLIC COMMENT Beginning Res. No. RA 98-08 This is the time set aside for public comment on any matter not scheduled for a public hearing. Please complete a "request to speak" form and limit your comments to three minutes. Please watch the timing device on the podium. CLOSED SESSION NOTE: TIME PERMITTING, THE CITY COUNCIL MAY CONDUCT CLOSED SESSION DISCUSSIONS DURING THE DINNER RECESS. ADDITIONALLY, PERSONS IDENTIFIED AS NEGOTIATING PARTIES WHERE THE CITY IS CONSIDERING ACQUISITION OF THEIR PROPERTY ARE NOT INVITED INTO THE CLOSED SESSION MEETING. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR PURSUANT TO GOVERNMENT CODE SECTION 54956.8 CONCERNING THE POTENTIAL TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED AT THE NORTHEAST CORNER OF EISENHOWER DRIVE AND CALLE TAMPICO. PROPERTY OWNER/NEGOTIATOR: PETER MURRAY. PUBLIC COMMENT - 3:00 pm This is the time set aside for public comment on any matter not scheduled for a public hearing. Please complete a "request to speak" form and limit your comments to three minutes. Please watch the timing device on the podium. 00000, CONFIRMATION OF AGENDA APPROVAL OF MINUTES a. Approval of Minutes of October 20, 1998 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 NOVEMBER 3, 1998. BUSINESS SESSION 1 . CONSIDERATION OF REQUEST OF BUILDING HORIZONS FOR QUIET SECOND FUNDING OF A THIRD HOUSE TO BE CONSTRUCTED BETWEEN TWO PREVIOUSLY APPROVED HOUSES CURRENTLY UNDER CONSTRUCTION. A) MINUTE ORDER ACTION. STUDY SESSION - None DEPARTMENT REPORTS CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS - None ADJOURNMENT Page 2 DECLARATION OF POSTING I, Saundra L. Juhola, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda for the Redevelopment Agency meeting of November 3, 1998 was posted on the outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at the La Quinta Chamber of Commerce and at Albertson's, 78-630 Highway 1 1 1, on Friday, October 30, 1998. Da d: October 30, 1998 a ` AUNDRA L. JUHOLA, Secretary La Quinta Redevelopment Agency PUBLIC NOTICE The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the meeting and accommodations will be made. Page 3 000003 o r�' z v S CFy OF TN�O COUNCIL/RDA MEETING DATE: NOVEMBER 3, 1998 ITEM TITLE: Demand Register Dated November 3, 1998 RECOMMENDATION BACKGROUND Prepaid Warrants 34830 - 34832) 34833 - 348381, Wire Transfers) P/R 1917 - 198611 P/R Tax Transfers) Payable Warrants: 34839 - 349581 FISCAL IMPLICATIONS: Demand of Cash - RDA Approve Demand Register Dated November 3, 1998 John M. Falconer, Finance Director 170.50 96,460.08 21,951.30 81,796.75 23,195.81 234,320.90 $457,895.34 $93,000.00 CITY DEMANDS RDA DEMANDS AGENDA CATEGORY: BUSINESS SESSION CONSENT CALENDAR STUDY SESSION PUBLIC HEARING $364,895.34 93,000,00 $457,895.34 000004 CITY OF LA QUINTA BANK TRANSACTIONS 10/15/98 - 10/28/98 10/15/98 WIRE TRANSFER -DEFERRED COMP 10/15/98 WIRE TRANSFER - PERS $5,035. i 6 $16,91.6.14 TOTAL WIRE TRANSFERS OUT $21,951.30 000005 2. ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 3:53P!�� CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 34839 10/28/98 &00680 COACHELLA VALLEY HOUSING 15.00 34840 10/28/98 &00681 DAVID ROSS MILLER 272.71 34841 10/28/98 &00682 QUE NJEVAS 25.00 34842 10/28/98 &00683 JANICE SENDERLING 39.00 34843 10/28/98 &00684 BEVERLY WAITE 40.00 34844 10/28/98 &00685 LARRY CROSS 30.00 34845 10/28/98 &00686 RACHEL MILLE 30.00 34846 10/28/98 &00687 MINISTRELLI PAINTED COVE 46.00 34847 10/28/98 ALB005 ALBERTSONS FOOD CENTER - 94.46 34848 10/28/98 ALL075 ALL SIGN PRODUCTS 316.00 34849 10/28/98 AME150 AMERICANS FOR THE ARTS 150.00 34850 10/28/98 ARRO10 ARROW PRINTING COMPANY 60.34 34851 10/28/98 ASC001 A & S COFFEE SERVICE 202.00 34852 10/28/98 ATL100 ATLAS PEN & PENCIL CORP 8.25 34853 10/28/98 AUT030 AUTOMATED TELECOM 30.00 34854 10/28/98 BAN150 BANK OF NEW YORK 200.00 34855 10/28/98 BEI00 R BEIN, W FROST & ASSOC 34915.33 34856 ** AP CHECK RUN VOID ** 34857 ** AP CHECK RUN VOID ** 34858 10/28/98 BER.150 BERRYMAN & HENIGAR INC 11142.00 34859 10/28/98 BIGOiO BIG A AUTO PARTS. 18.83 34860 10/28/98 BLU0-_1. BLUEPRINTER 118.53 34861 10/28/98 BRAD-.0 JOHN BRANSTETTER 80.00 34862 10/28/98 BUS015 BUSINESS PRESS 25.00 34863 10/28/98 CADOIO CADET UNIFORM SUPPLY 297.44 34864 10/28/98 CAL010 CAL WEST ENGINEERING 9656.00 34865 10/28/98 CAL018 CAL EI\VIROMENTAL PUBLICA 75.00 34866 10/28/98 CAL921 CALIF PARKS & RECREATION 235.00 34867 10/28/98 CAL033 CA PLANNING & DEVELOPMENT 203.00 34868 10/28/98 CAL065 CALIF JOINT POWERS INS 120.00 34869 10/28/98 CAL1.00 CALIFORNIA TURF 1531.42 34870 10/28/98 CAIvli,50 CAMPBELL ENTERPRISES 92.00 34871 10/28/98 COAOCu COACHELLA VALLEY WATER 8957.14 34872 10/28/98 C0"l0-1O COMSERCO 3BO.74 34873 10/28/98 Cvll�ult0 COMMERCIAT LIGHTING IND 1081.56 34874 10/28/98 C,)SC;50 COSTCO BUSINESS DELIVERY 535.82 34875 10/28/98 DAT080 DATAWARE COMPUTER PRODUCT 52.8` 34876 10/28/98 DAY010 DAY -TIMER 22.74 34877 10/-28/98 DEC100 DE CASTRO/WEST/CHODOROW 1312.6: 34878 10/28/98 DES()--O DESERT JANITOR SERVICE 3878.0( 34879 10/28/98 DEUC60 DESERT SUN PUBLISHING CO 5503.31 34880 10/28/98 D_:;'0,71. DESERT SUN COMMU14ITY 2145.01 34881 10/28/98 DES0k-5 DESERT TEMPS INC 1252.,1 34882 10/28/98 Dl,l),20 DIEGC'S GARDENING SERVICE 1350.0 34883 10/28/98 D-lt:),;u CHRISTINE DIIORIO 181.6 34884 10/28/98 DOUBLE PRINTS 1 HR PHOTO 13.4 34885 10/28/98 DREt,_10 DRESCO REPRODUCTION INC 66.7 3 ACCOUNTS PAYABLE - AP5005 _-_=-CK REGIST-::: 3:53Pi',i IUi 2bi �jb CITY OF LA QUINTA L'P.NK ID: DEF PAGE 2 CHECK CHECK VENDOR PAYMENT NUMBER DATE -,10. NAME AMOUNT 34886 10/28/98 EAGiOG EAGLE/BENEFICIAL NATL BNK 503.70 34887 10/28/98 EQUO�_0 DALE EQUITZ 60.00 34888 10/28/98 F-7-HO-C FEDERAL EXPRESS CORP 522.25 34889 10/28/98 F._`,,0 R G FRISTAD 100.00 34890 10/28/98 GAS,_,_:; GASCARD NC 135.74 34891 10/28/98 GCSO=i GCS POTTER & EQUIPMENT 6249.50 34892 10/28/98 GREC;21 GREATER COACHELLA VALLEY 1600.00 34893 10/28/98 GTEOLO GTE CALIFORNIA 198.79 34894 10/28/98 GJ14ii;_'�O BRAD GUMMER 1008.00 34895 10/28/98 HER0iQ JERRY HERMAN 46.21 34896 10/28/98 HlSii*-)0 HISPANIC TRAINING 200.00 34897 10/28/98 Hut.,,.C, HUGH "BOARD INC 1035.01 34898 10/28/98 HOI,i ,30 HOME DEPOT 1821.96 34899 10/28/98 IC _� ...'_. ICI DUT.U,: PAINT CENTERS 839.05 34900 10/28/98 IVIr(-,_.) IMPERIAL IRRIGAT"ON DIST 15475.93 34901 10/28/98 jpk(-)IU JP REPROGRAPHICS 432.08 34902 10/28/98 JULO.tO JUDICIAL DATA SYSTEMS COR 100.00 34903 10/28/98 K=Nu50 KINKO'S 358.37 34904 10/28/98 KORO50 KORVE ENGINEERING, INC 3447.50 34905 10/28/98 LAC( LA QUINT? CAR WASH 62.55 34906 10/28/98 114(l:_j62 LA QUINTA HIGH SCHOOL 500.00 34907 10/'8/98 L LASER TEC 100.00 34908 10/28/98 L r. MART: LEV`i STUDIO 1250.00 34909 10/28/98 L:iC' LOCK :ur INC 123.12 34910 10/26/98 LGG'-:.0 MARK L0GAN LANDSCAPE INC 4418.00 34911 10/28/98 1.11A,.2('G MARINA DRYWALL & 350.00 34912 10/28/98 MA.,,,i)50 MAZDA SUPERSTORE 475.47 34913 10/28/98 MC.'_`lu McKESSON WATER PRODUCTS 255.49 34914 10/28/98 Mt , il C.0 MOBILE COMM 81.75 34915 10/28/93 Mk;:;13 MUNI FINANCIAL SERV INC 200.00 34916 10/ _8/98 IAA NAIL _t C:1ZEATION F, PARK 90.00 34917 10/28/98 K:L :' i NICKL SOH DIERCKS & ASSC 4380.00 34918 10/28/98 t=At'.' PAPER OWCASE 103.65 34919 10/'"8/98 t. (_ PARAGu:<f SIGNS 80.81 34920 10/28/98 PA . _. G PARKHOJSE TIRE INC 1 81.60 34921 10/28/98 P THE Fj, Z_F ECT ANSWER 35.85 34922 10/28/98 PERNIA. 3182.95 34923 10/28/93 PINK INC 600.00 34924 10/28/98 'i 5 PITNEr B011ES 308.05 34925 10/28/98 P';- POSTA::, :.()NVECTION OF 46.43 34926 10/ ii/98 r THE Pr<r.v`''If PLACE 62.50 34927 10/ 8/98 R i:.: .: RADIO 110.66 34928 10/28/98 I2_^ RALP: c=,;?.00ERY CO 29.06 34929 10/28/98 R._>.:.0 RASA - ERIC NELSON 1623.00 34930 10/28/98 F.: '! -':: RET1Ri;`J ;ER. VOLUNTEER PROG 20.00 34931 10/28/98 F. _ :-. i. 0 RIVERSIDE COUNTY HEALTH 610.00 34932 10/28/98 ::y. l RIV COUNTY SHERIFF/INDIO 1681.98 34933 10/28/98 Rl_ RIVERSIDE COUNTY SHERIFF 1200.00 34934 10/28/')8 R-T, _ RUTAN -.k UCKER 15781.66 000007 4 ACCOUNTS PAYABLE - AP5005 ('..:::CK REGISi ,; CITY OF LA QUINTA .- .NK ID: DEF PAGc. 3 CHECK CHECK VENDOR PAYMENT NUMBER DATE NAME AMOUNT 34935 10/28/98 c:= j S.C.R.:'%.P. 2500.00 34936 10/28/98 S._F._'0 SIERRA SCHOOL EQUIP CO 7670.73 34937 10/28/98 S I' ,::'_; SIMON 'MOTORS INC 39010.67 34938 10/28/98 SMART & FINAL 277 . 28 34939 10/28/98 S'l' . 6 SMITH :PIPE & SUPPLY INC 154.99 34940 10/218/98 SOC THE SOLO CROUP INC 292.71 34941 10/28/98 S�;li - i 3 SOUND lI,.a�3E 481.92 34942 10/28/98 SOUTHW S'-- NETWORKS, INC 5921.52 34943 10/28/98 `.ii.;r' SOUTELAND GEOTECHNICL INC 2290.75 349.44 10/28/98 S'�Tt,,- 5 STAN' S AUTO TECH 25.47 34945 10/2.8/98 S :_, !),0 -STAPLE. 220.84 34946 ** AP CHECK RUN VOID ** 34947 10/28/98 STEVE'S OFFICE SUPPLY 1265.01 34948 10/28/98 SHARON SZESNY 318.50 34949 10/28/98 ^P.t-, G TARGET/DA TON' S L61.58 34950 10/28/98 U TFcI S'i'.'STZ LAND SUVEYORS & 5050.00 34951 10/28/98 L:..']''_k G ULTIMATE INTERNET ACC INC 80.00 34952 10/28/98 UNITED S-ATES POSTAL SVC 3000.00 34953 10/28/98 VII;_6 VIKING 0 FICE PRODUCTS 59.07 34954 10/28/98 1')' VON'F "/O SAFEWA`T INC 23.25 34955 10/ b/9ii WHEEI LEA'S 190.00 34956 10/28/98 W ^'` WINSTO.i ^IRES 246.86 34957 10/28/98 kC, XEROX CORPORATION 657.20 34958 10/28/98 ZuI�iAR ; I\'::)uSTRIES ING 3841.65 CHECK "')'.AL 234,320.90 J m . p z OD O a a r U H N H f'1 N N rl N 'i r'1 N ti F N ri H ID N H El N El H N 'i F N El N E. 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H w H w z m z m I ' a z W o w 0 w 0 G. 0 w 0 G. 0 w 0 w 0 W 0 w 0 W 0 w 0 w 0 W 0 G. 0 w 0 1+4 0 w o W N W N ?I a w w H H N c� H m m m m m m m m m m m m m m m m m m m m q [z7 H [a] [� ry] a aa D a o �' r� - w w - w w [� ' - r� - �r - w - w - w w - r1 w - ram' - w - w r� o o w w w Q m a I -a W E m W H m E m H m F m F m W H m W H m W F m H m H m E+ m W H m W H m W H m F F W F DOi H H IH-I w O W > o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 m 0 m 0 m 0 m 0 m o H 0 H o 0 0 o d 5 O U �I H N {sO H 0µ0 w N 1 w N {a0 7 w N �sO.� F N {.0 7 w N (.0.� w N w [O� N w [O� N :7 w {0 N O F N O H N {,O] w N GO w 07 G7 F N (Oaf F N O F N [Oy H O .ti N O ri N tf1 W (O� O r1 a O .-1 a O .-I I-] O .-1 .H.7 O p z a U m m m m m m m m m m m m m m m m m m m m F F F 5 5 5 000023 m d 0 0 0 o 0 0 N N U N z W O� m 10 r r r N r � a H E+ H El H H H o w w r O d N O� d a O n N w c 0 N O l o x n U RC w w H z w 2po `ool El Hoo cil El El Oa, O H F Eo-4 a H o: H N H H H H a E E Ll > a g a u a H H w a vl p a a p qp w O zO H'Na q> Q zwo W HHH aW z W W W Wz W L4>U 5 vl > O H H q o w a a a Ift O d ry H W G] O q w `° r ^^ v a o I I > z N N O O N N H '' O o N O H O H Z 0 cool LO O rn O C] a � w a 1 N d d W O C O r•l O a W O 00 O aD O d d � lO w 00 OJ (T O o O O O H En EH U U z H o a 3 3 H H El ad d H a Ipn� U [Wy [W Ul c� 0�y H ul L H N I I CO1� COy w w q a U U W H O U U a zG zo U 5 y U m a w tn co O O d a Z Z z Z a [Oqq N a s pe °> °> 3 O > 0 0 0 0 0 z a a a a '" O -/4 OU H H O O L� H U H > > 3 3 tZ U > �l ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 1:36PM 10/22/96 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 34838 10/22/98 WEL046 WELLS FARGO BANK 93000.00 CHECK TOTAL 93,000.00 0000? z m m N N -+ x O U N E 4 040 H a a 0 E o H a 00 o a � 0 0 W o S o 0 0 � rn 0 N as a w U N H W O H a o z m o (q U H [a a In H z a 4 a w m a 1 O O r' H a r W r ro z 0 H z 5 0 o U U N 4 d' N 0 O I � a z QJ H W ? 0 U w 4 o a a pz x ' o 0 a O �+ a o U H L) a u 0 0 0 0 m E H z a 00002-6 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 4:51PM 10i21iyb CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 34833 10/21/98 ATI100 ATI FORECLOSURE SVC INC 93000.00 34834 10/21/98 CAM042 CAMERA EXCHANGE LTD 94.82 34835 10/21/98 LEA020 LEAGUE OF CALIF CITIES 130.00 34836 10/21/98 NEX010 NEXTEL COMMUNICATIONS 3060.26 34837 10/21/98 NIE100 ANDREW L NIELSEN 175.00 CHECK TOTAL 96,4.60.08 0000?7 4. 4 Nt d' H Ott N co . z .a P aID a N E-H N H N E N E I N F o d H z ] O O H o o N CD a o O O om N I O n a yy Q+ O N O o ko 0 O p z oo O rn m w x a p O a CQ H N ID 0 U ao r H z w O W N W ° a I, 0�+ C7 a O O w U z & °q u x z w on a z o o u z o o z I> w o u z O W W a W 7 J w c U) w co0 a, r rn H z r a w w o El a o w a r 0 0 0 10 0 0 w r 10 0 0 o 0 O z m io o r ID `O p 0 U m H N H U H O O o U H U m q y H H ul z O z (O�yy RC CA 0 W F. H H V a z H Iq W 0 U W U O U z 7 a m CY ¢ a o pz o a a a Wz zd L O u O a N O O z I OI./o V�V ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 10:01AM 10/1yi7b PAGE 1 PAYMENT AMOUNT 34830 10/19/98 FER150 HECTOR J FERNANDEZ 34831 10/19/98 LEA020 LEAGUE OF CALIF CITIES 34832 10/19/98 WIL100 WILSON, PESOTA & PICHARDO CHECK TOTAL 00002. 64.00 84.00 22.50 170.50 O N r-1 rn • z o� � a ID � E o o 0 In O H PJ' w 0 ID o d aD p N o N rI O O 0 d � U) W a O U iWG m aW 2 v m N !1 O) N E,I M °J z P: a � �t P4 w ROi H a W t-1 H ca9 w w QH v w H Q o Q a w a Q "' w N w '9 H Q H Q H a a w H z w a o w O O 0 O W o 0 ID N N z " 0 O H O O W M H C.7 a p7 U a z a n ° a O pz o u ° O a En a 3 w O El W > 0 0 0 0j 2' '7 A/P - AP6002 CHECKS TO BE VOIDED 08:59AM 10/23/9b CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME INVOICE DESCRIPTION 34664 DEF 10/01/98 50.00 PAL010 PALM SPRINGS DESERT RESRT visitor studies TOTAL VOIDED 50.00 000031 A/P - AP6002 CITY OF LA QUINTA CHECK BK INVOICE NUMBER ID DATE 34510 DEF 09/22/98 CHECKS TO BE VOIDED BANK ID: DEF VENDOR VENDOR AMT. PAID NUMBER NAME 49.00 CAL028 CALIFORNIA JOURNAL TOTAL VOIDED 49.00 r3 4 08:53AM 10/23/96 PAGE 1 INVOICE DESCRIPTION muni finance jrnl 000�3� A/P - AP6002 CHECKS TO BE VOIDED 1:38PM 10/22/96 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME INVOICE DESCRIPTION 34833 DEF 10/20/98 93000.00 ATI100 ATI FORECLOSURE SVC INC PURCH PROP/52050 AVE MENDOZA TOTAL VOIDED 93,000.00 �0`1033 T4'y,,, 4 4aQ" AGENDA CATEGORY: BUSINESS SESSION: I COUNCIL/RDA MEETING DATE: November 3, 1998 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: PUBLIC HEARING: Consideration of a request of Building Horizons for Quiet Second funding of a third house to be constructed between two previously approved houses currently under construction RECOMMENDATION: Approve the Quiet Second funding for the third house utilizing the funding parameters of the existing Home Purchase Second Trust Deed Loan Program, authorize staff to appropriate up to $65,000 to facilitate the sale, and condition the Building Horizons single family dwelling to change the front elevation to be substantially different from that of the existing two homes. FISCAL IMPLICATIONS: A second trust deed loan in an amount up to $65,000 will be appropriated from the Project Area No. 1 Low and Moderate Income Tax Increment Fund. BACKGROUND AND OVERVIEW: Agency staff has received a request from Building Horizons (Attachment 1) for Quiet Second trust mortgage funds to facilitate the sale of a single family dwelling to a very low, low, or moderate -income household. For the past four years, the Agency has entered into Affordable Housing Agreements with Building Horizons to provide Agency affordable housing funds to purchase property and construct affordable housing units. As the units are sold, a portion of the Agency's funds is converted into Quiet Second trust deed mortgages, with the remaining funds repaid to the Agency. To date eight units have been constructed and six units have been sold to low and moderate income households. These new construction units feature long-term affordability covenants that are counted towards the Agency's affordable housing production requirements. Building Horizons is currently in the process of constructing two affordable dwellings on Avenida Velasco per the latest Affordable Housing Agreement. A lot located between these units (52-100 Avenida Velasco) has been offered to Building Horizons who wishes to purchase the lot and construct an additional single-family dwelling. In order to enhance the 000034 C:AMy Documents\WPD0CS\CC.TH.004 unit's marketability, Building Horizon desires to sell the dwelling at a price affordable to low or moderate income households. They have requested the Agency fund a second trust deed loan at the time of sale; this would render final housing costs affordable to said households. This request differs from past Building Horizon transactions in that the Agency would only fund the Quiet Second loan. Past agreements required Agency funds to both purchase the property and underwrite dwelling construction. The average per unit assistance cost has been $54,000 based on an average selling price of $110.000. The City's Quiet Second Housing Program currently provides a maximum of $65,000 for a very low, $50,000 for a low, or $25,000 for a moderate income home buyer. The current housing agreements with Building Horizons makes available a single maximum amount of $60,000 per unit. Staff is recommending that based on the anticipated selling price of $120.000 for the proposed unit, the Agency make available the same differentiating amounts as offered in the Quiet Second Housing Program ($65,000 for very low, $50,000 for low, and $25,000 for moderate). Since the Agency has a continuing need to secure affordable housing covenants, this request would facilitate adding a quality single-family unit to the Agency's inclusionary housing portfolio. Staff is also requesting that a condition be added to this proposal requiring Building Horizons to provide an alternative elevation for the third house that will differ substantially from the two units under construction. Staff has discussed this with Building Horizons and they have provided photos of the houses that are currently under construction and the house they propose to build (Attachment 2). FINDINGS AND ALTERNATIVES: The Alternative available to the Agency Board are: 1. Approve the funding request, appropriation of funds, with the alternative elevation condition; 2. Deny the request; or 3. Provide Staff with alternative direction. �rry He'l man ommu'r ity Development Director Attachments: 1. Letter from Building Horizons 2. Photos 000035 C:AMy Documents\WPDOCS\CCJH.004 ATTACHMENT #1 N LidI_ff f !r_r r I'. jl ! Off 141998 CITY OF LAQUIN IA PLANNING DEPARTMENT October 12, 1998 Mr. Jerry Herman Director of Community Development City of La Quinta P.O. Box 1504 La Quinta, CA 92253 Dear Mr. Herman: Reference: Lot #5, Santa Carmelita at Vale La Quinta, APN #773-225-005 Building Horizons is in the process of purchasing the above -referenced lot which is located between the two lots where the program will construct two homes this year. We request approval from your office to be able to construct a third house on the referenced lot during the 1998/1999 program and that this house be designated for low/moderate income housing. Thank you for your assistance. Sincerely, J eph R. Sitko executive Director JRS/ds 000036 Qt_-600 G �k C,-. StE-. _'0 - , t �_I L.; S''r _o-. - �': i - f L.. 4 47=1 �. - �. ,� Ei.iL�l ?S - E''l3 i � I r K1ds aO .CO ATTACHMENT #2 j EXISTING PROPOSED 00003'7