2009 07 21 RDAeaf 4 4vad4&
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, JULY 21, 2009
3:00 P.M. Closed Session / 4:00 P.M. Open Session
Beginning Resolution No. RA 2009-007
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Evans, Henderson, Sniff, Chairperson Franklin
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 PROPERTIES IDENTIFIED AS APNs: 773-
370-028 AND -029, SILVERHAWK APARTMENT HOMES. PROPERTY
OWNER/NEGOTIATORS: APARTMENTS AT LA QUINTA VILLAGE, L.P.,
JAMES C. GIANULIAS, AND DEUTSCH BANK, BERKSHIRE MORTGAGE,
INC., MARK S. PENCHECK, ESQ.
Redevelopment Agency Agenda 1 July 21, 2009
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 JULY 7, 2009.
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 JULY 21, 2009.
2. RECEIVE AND FILE TRANSMITTAL OF TREASURER'S REPORT DATED MAY
31, 2009.
3. RECEIVE AND FILE TRANSMITTAL OF REVENUE & EXPENDITURES REPORT
DATED MAY 31, 2009, AND THE INVESTMENT SUMMARY REPORT FOR
THE QUARTER ENDING JUNE 30, 2009.
BUSINESS SESSION - NONE
STUDY SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
Redevelopment Agency Agenda 2 July 21, 2009
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Redevelopment Agency will be held on August 4,
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 July 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 July 17, 2009.
DATED: /.July 17, 2009
VERONICA J. "-TECINO, 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 Calle Tampico, La Quinta, California, 92253, during
normal business hours.
Redevelopment Agency Agenda 3 July 21, 2009
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COUNCIL/RDA MEETING DATE: July 21, 2009
ITEM TITLE: Demand Register Dated
July 21 2009
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
July 21, 2009 of which $659,270.34
represents Redevelopment Agency Expenditures
AGENDA CATEGORY:
BUSINESS SESSION
CONSENT CALENDAR j
STUDY SESSION
PUBLIC HEARING
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
Ce4tr4 SepCtU*�w
COUNCIL/RDA MEETING DATE: July 21, 2009
AGENDA CATEGORY:
BUSINESS SESSION:
ITEM TITLE: Receive and Transmittal of Treasurer's
Report dated May 31, 2009 CONSENT CALENDAR:
-
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Redevelopment Agency:
Receive and File the Treasurer's Report dated May 31, 2009.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
ceitvl of XrouQur„rw
COUNCIL/RDA MEETING DATE: July 21, 2009
ITEM TITLE: Receive and File Transmittal of Revenue
and Expenditure Reports dated May 31, 2009 and
Investment Summary Report for the Quarter Ending
June 30, 2009
RECOMMENDATION:
Receive and File.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION: �(
CONSENT CALENDAR: 3
STUDY SESSION:
PUBLIC HEARING:
Receive and File Transmittal of the May 31, 2009 Statement of Revenue and
Expenditures for the La Quinta Redevelopment Agency and Investment Summary
Report for the Quarter Ending June 30, 2009.
Respectfully submitted,
A4M I \�
John M. Falconer, Finance Director
Approved for submission by:
n
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, May 31, 2009
2. Investment Summary for the Quarter Ending June 30, 2009
ono+nooe-6s3vzoos ATTACHMENT 1
LA OUINTA REDEVELOPMENT AGENCY ADJUSTED REMAINING %
REVENUE SUMMARY PROJECT AREA NO. 1: BUDGET RECEIVED BUDGET RECEIVED
LOWIMODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Miscellaneous revenue
Non Allocated Interest
LORP-Rent Revenue
Home Sales Proceeds
Sale of Land
Sewer Subsidy Reimbursements
Rehabilitation Loan Repayments
2nd Trust Deed Repayment
Transfer In
TOTAL LOWIMOD TAX
DEBT SERVICE FUND:
Tar Increment
Allocated Interest
Non Allocated Interest
Interest - County Loan
Interest Advance Proceeds
Transfers In
TOTAL DEBT SERVICE
11,169,000.00
9,974,012.74
1,194,987.26
89.300%
25,000.00
(23,436.15)
48.436.15
-93.740%
0.00
1,184.49
(1,184.49)
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
225,000.00
201,676.20
23,323.80
69.630%
150,000.00
0.00
150,000.00
0.000%
0.00
0.00
0.00
0.000%
650.00
603.34
46.66
92.820%
0.00
0.00
0.00
0.000%
100,000.00
92,500.00
7,500.00
92.500%
0.00
0.00
0.00
0.000%
11,669,650.00
10,246,540.62
1 423109 38
87 810%
44,676,000.00
39,896.050.93
4,779,949.07
69.300%
173,600.00
172,385.14
1.214.86
99.300%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
4,444,479.00
4 444 519 53
(40.53)
100 000 %
49,294,079.00
44,512,955.60
4787123.40
90.300%
CAPITAL IMPROVEMENT FUND - NON-TAXABLE
Pooled Cash Allocated Interest
590,000.00
417,836.16
172,163.84
70.820%
Non Allocated interest
173,000.00
170,917.06
2.082.94
98.800%
Developer Agreement Funding
0.00
0.00
0.00
0.000%
Sale of Land Proceeds
0.00
0.00
0.00
0,000%
Rental Income
0.00
0.00
0.00
0.000%
Transfers In
51000,000.00
5,000,000.00
0.00
100 000%
TOTAL CAPITAL IMPROVEMENT
5.763,000.00
5,588,753,22
17424678
96980%
LA GUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 2:
LOWIMODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Wash St Apts Interest Income
WSA Fed Govl Assistance Pymts
WSA Fed Govt Interest Rate Subsidy
Developer funding
Wash St Apts Rental Income
Wash St Apts Other Revenues
2nd Trust Deed Repayment
ERAF Shift- Interest
Sale of Land
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
Misc Revenue
Sale of land
Transfers In
TOTAL CAPITAL IMPROVEMENT
07/01/2008 - 06/31/2009
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,843,250.00
5,564.913.01
278,336.99
95.240%
320,500.00
230,233.18
90,266.82
71.840%
0.00
0.00
0.00
0.000%
2,387.00
17.90
2.369.10
0.750%
300,920.00
223,706.00
77,214.00
74.340%
34,472.00
0.00
34,472.00
0.000%
307,656.00
307.655.67
0.33
100.000%
108,893.00
89,019.44
19,873.56
81.750%
2.817.00
2,079.47
737,53
73.820%
45,000.00
40.458.25
4.541.75
89.910 %
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
6,965,895.00
6,458,082.92
507,812.08
92710%
0.00
0.00
0.00
0,000%
0.00
0.00
0.00
0.000%
165,000.00
164.193.05
806.95
99.510%
0.00
0.00
0.00
0.000%
165,000.00
164.193.05
806,95
99 510%
23,373,000.00
22,259,652.10
1.113,347.90
95,240%
280,000.00
217,418.94
62,581.06
77.650%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0,000%
1.953,598.00
1,953,597.94
006
100000%
25,606,598.00
24,430,668.98
1,175,929.02
95410%
36,000.00
32,047.08
3,952,92
89,020%
0.00
0.00
0.00
0.000%
0.00
23.25
(23.25)
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
36.000.00
32,070.33
3.929 67
89 080%
K
LA OUINTA REDEVELOPMENT AGENCY ADJUSTED OT/01/2008-0613112009 REMAINING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
PROJECT AREA NO. 1:
LOW/MODERATE TAX FUND:
PERSONNEL
1,100w
0.0E
0.00
1,10000
SERVICES
337,869.0E
265,671.46
ODO
72,197.54
BUILDING HORIZONS
0.0E
0.0E
0.00
000
LO RENTAL PROGRAM
275,000.0E
171,662.88
0.0E
103,337.12
2n0 TRUST DEED PROGRAM
0,00
0.0E
0.0E
0.0E
BUILDING HORIZONS
0.0E
000
0.0E
0.0E
LAND ACQUISITION
4,371,453.00
4, 130,708.50
0.00
240,74450
LOW MOD HOUSING PROJECTS
0.0E
2.64
0.00
(264)
FORECLOSURE
450,WO.00
191,191.04
0.00
258,808.96
REIMBURSEMENT TO GEN FUND
7W,271.00
647,416.99
0,00
58,854.01
TRANSFERS OUT
444447900
4444519.013
OCO
(40531
TOTAL LOWIMOD TAX-
-UT5861iZD0
9,BST,Ti3Tf4
O.WiJ396
DEBT SERVICE FUND:
SERVICES
563,D00.00
484,170.95
0.00
79,729,05
BOND PRINCIPAL
2.%0,WO.00
2,960.000.00
OAO
0.00
BOND INTEREST
7,330,189,00
7,330,188.26
0.00
0.74
INTEREST CITY ADVANCE
1,020,000.00
935,000.00
0.00
85,000.0E
PASS THROUGH PAYMENTS
24,86Q329.00
20,845,389.78
000
4,023.939.22
ERAF SHIFT
4,398,307.00
0,00
0.0E
4,398,307,00
TRANSFERS OUT
8%63%00
8966395.82
0.00
0.18
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
PERSONNEL
1,100.00
0.00
0.00
1,100.OD
SERVICES
935,215.00
631.645,15
000
303,569.85
IANDACQUISITION
000
0.00
0.0E
000
ASSESSMENT DISTRICT
0,00
0.00
0.00
000
ADVERTISING -ECONOMIC DEV
0,00
0.0E
0.00
0.00
ECONOMIC DEVELOPMENT
0.00
0,00
0.0E
0.00
BOND ISSUANCE COSTS
0.00
0.0E
0,00
0.00
CAPITAL -BUILDING
9,000.00
0,00
0w
9,000,00
REIMBURSEMENT TO GEN FUND
294,883.00
270,310.37
060
24,572,63
TRANSFERS OUT
43013915.00
2844518.17
0.0E
40169396.83
TOTAL CAPITAL IMPROVEMENT
#25ki!ll GOLA
OUINTA REDEVELOPMENT AGENCY
ADJUSTED
0710112008. 06/3112009
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA NO. 2:
LOW/MODERATE TAX FUND
PERSONNEL
700.0E
0.00
0.00
700.00
SERVICES
621,676,00
453,813.17
0,00
167,862.83
WASH ST APTS OTHER EXPENSES
286,200.0E
132,226.95
E.00
153,973.05
2NO TRUST DEEDS
0.00
0.00
0.00
0,00
LOW MOD HOUSING PROJECTS
0.0E
2.306,78
0.00
(2,306,78)
FORECLOSURE ACQUISITION
100,000.00
0.00
0.00
1D0,000.00
VISTA DUNES PARK
50,000.00
0.00
0.00
50,000.00
LAND ACQUISITION
0,00
(888.00)
0.00
888.00
WSA PRIN/PROVIDENT LOAN
15,748.00
9,807.88
0.00
5,940.12
WSA PRIN/USDA LOAN
6,546.00
0,00
0.00
6.54600
WSA INTEREST/PROVIDENT LOAN
87,235,00
43,618.03
0.00
43616,97
WSA INTEREST/USDA LOAN
50,309.00
12,790,08
0.00
37,518,92
REIMBURSEMENT TO GEN FUND
360,604,00
330,554.51
0,00
30,049.49
TRANSFERS OUT
4780,742.0E
1,823328.13
0.0E
2957,413.37
TOTAL LOW/MOD TAX
20" LOW/MODERATE BOND FUND
HOUSING PROGRAMS
3,052,800.00
2.096,000. 00
0.0E
956.800.00
LAND
0 m
0.00
0.00
0.0E
TRANSFERS OUT
12, 390,202. DO
9514759.5E
0.0E
2,8]5442.50
TOTAL LOW/MOD BONG
DEBT SERVICE FUND:
SERVICES
250,525.00
261,347,52
0.00
(10,822,521,
BOND PRINCIPAL
115,0D).00
115,000.00
0.0E
0.0E
BOND INTEREST
305,184.00
305,183.75
0,00
0,25
INTEREST CITY ADVANCE
1656,52B.00
1, 518,484,00
0.0E
138,044,00
PASS THROUGH PAYMENTS
19.153,263,00
14,237,786.55
0,00
4,915,476 45
TRANSFERS OUT
1953598.0E
1,95359].94
0.0E
0,06
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
PERSONNEL
700.00
0.00
0.0E
700.00
SERVICES
368,760.00
212.91365
0.00
155,846.35
CAPITAL
0.00
0.00
000
0,00
ECONOMIC DEVELOPMENT ACTIVITY
0.00
0.0E
0.00
000
REIMBURSEMENT TO GEN FUND
60,741,00
55.680.13
000
5,060.87
TRANSFERS OUT
399,896.0E
329495.83
0.0E
70400.17
TOTAL CAPITAL IMPROVEMENT
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