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1999 04 20 RDARedevelopment Agency Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting April 20, 1999 - 2:00 P.M. CALL TO ORDER a. Roll Call PUBLIC COMMENT Beginning Res. No. RA 99-03 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 AGENCY BOARD 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 FRANK SPEVACEK AND THOMAS GENOVESE AND THE SUBJECT PROPERTY NEGOTIATOR RAY HANES, PURSUANT TO GOVERNMENT CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED AT THE SOUTHWEST CORNER OF AVENUE 47 AND ADAMS STREET. 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. CONFIRMATION OF AGENDA APPROVAL OF MINUTES a. Approval of Minutes of April 6, 1999 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 APRIL 20, 1999. 2. TRANSMITTAL OF TREASURER'S REPORT DATED FEBRUARY 28, 1999. 3. ADOPTION OF THE 1999/2000 ECONOMIC DEVELOPMENT PLAN. BUSINESS SESSION 1 . CONSIDERATION OF AN EXCLUSIVE NEGOTIATION AGREEMENT BY AND BETWEEN THE LA QUINTA REDEVELOPMENT AGENCY AND A. G. SPANOS CORP. REGARDING 12+ ACRES LOCATED ALONG ADAMS STREET, NORTH OF AVENUE 48 AND TO HAVE THE CHAIRMAN SIGN THE AGREEMENT. A) MINUTE ORDER ACTION. STUDY SESSION - None DEPARTMENT REPORTS 1. REVENUE AND EXPENDITURES REPORT DATED FEBRUARY 28, 1999 AND INVESTMENT SUMMARY FOR THE QUARTER ENDING MARCH 31, 1999 Page 2 t'''}} 002 CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS JOINT PUBLIC HEARING WITH THE LA QUINTA CITY COUNCIL RIGHT OF WAY CONVEYANCE FROM THE LA QUINTA REDEVELOPMENT AGENCY TO THE CITY OF LA QUINTA TO FACILITATE IMPROVEMENTS TO WASHINGTON STREET, MILES AVENUE AND THE WASHINGTON STREET/MILES AVENUE INTERSECTION. ADJOURNMENT A► MINUTE ORDER ACTION. 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 April 20, 1999 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, April 16, 1999. Dated: April 16, 1999 SAUNDRA 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 3 003 La�� •cy V CF OF TNT V COUNCIL/RDA MEETING DATE: APRIL 20, 1999 ITEM TITLE: Demand Register Dated April 20, 1999 RECOMMENDATION BACKGROUND Prepaid Warrants 36619 - 36646 36647 - 36648 j Wire Transfers; P/R 2824 - 2897 P/R Tax Transfers' Payable Warrants: 36649 - 36792 FISCAL IMPLICATIONS: Demand of Cash -RDA Approve Demand Register Dated April 20, 1999 John 1. Falconer, Finance Director 21 1,605.56 300.00 22,315.99 83,046.70 24,556.51 CITY DEMANDS 391,266.82 RDA DEMANDS $733,091.58 $25,494.18 AGENDA CATEGORY: BUSINESS SESSION CONSENT CALENDAR STUDY SESSION PUBLIC: HEARING $707,597.40 25,494.18 $733,091.58 004 CITY OF LA QUINTA BANK TRANSACTIONS 4/1/99 - 4/14/99 412/99 WIRE TRANSFER - DEFERRED COMP $5,541.47 4/2199 WIRE TRANSFER - PIERS $16,774.52 TOTAL WIRE TRANSFERS OUT $22,315.99 605 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 10:10AM 04/14/99 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.*** 36649 04/14/99 &00758 DAVID & CECELIA BOGER 125.00 36650 04/14/99 &00759 JOY BRANDT 60.00 36651 04/14/99 &00760 SUSAN KNIGHT 47.00 36652 04/14/99 &00761 ROHDE 15.00 36653 04/14/99 &00762 LISA TARANTO 18.00 36654 04/14/99 &00763 DAYA JOSHI 70.00 36655 04/14/99 AlRO01 A-1 RENTS 904.72 36656 ** AP CHECK RUN VOID ** 36657 04/14/99 ACE010 ACE HARDWARE 1073.32 36658 04/14/99 AER050 AERO LAMINATORS 91.20 36659 04/14/99 AME005 AMERICAN PLANNING ASSOC 429.00 36660 04/14/99 AME200 AMERIPRIDE UNIFORM SVCS 95.56 36661 04/14/99 ANNO10 ANNENBERG CENTER AT 30.00 36662 04/14/99 ARRO10 ARROW PRINTING COMPANY 129.30 36663 04/14/99 ASCO01 A & S COFFEE SERVICE 162.00 36664 04/14/99 ATC010 ATCO MANUFACTURING CO 536.05 36665 04/14/99 ATH050 PAM ATHA 196.00 36666 04/14/99 ATT100 AT&T WIRELESS SVC 557.29 36667 04/14/99 AUT030 AUTOMATED TELECOM 213.62 36668 04/14/99 BEI050 R BEIN, W FROST & ASSOC 7941.00 36669 ** AP CHECK RUN VOID ** 36670 04/14/99 BER150 BERRYMAN & HENIGAR INC 10039.63 36671 04/14/99 BLU011 BLUEPRINTER 491.35 36672 04/14/99 C18050 C-18 INC 1688.00 36673 04/14/99 CAD010 CADET UNIFORM SUPPLY 437.60 36674 04/14/99 CAL015 CALIF BUILDING OFFICIALS 150.00 36675 04/14/99 CAM050 CAMPBELL ENTERPRISES 51.47 36676 04/14/99 CAT100 CATELLUS RESIDENTIAL 93116.19 36677 04/14/99 COA023 COACHELLA VLLY ENGINEERS 3000.00 36678 04/14/99 COA073 COACHELLA VLLY RECREATION 25150.88 36679 04/14/99 COM015 COMPUTER U LEARNING CENTR 1278.75 36680 04/14/99 COM040 COMMERCIAL LIGHTING IND 643.28 36681 04/14/99 COS050 COSTCO BUSINESS DELIVERY 293.47 36682 04/14/99 DAV100 DAVID-RICHARDS ELECTRIC 557.05 36683 04/14/99 DAY010 DAY -TIMER 22.74 36684 04/14/99 DER010 DEBBIE DERENARD 108.80 36685 04/14/99 DES010 DESERT BUSINESS MACHINES 125.00 36686 04/14/99 DES051 DESERT SANDS UNIFIED SCHL 10.00 36687 04/14/99 DES060 DESERT SUN PUBLISHING CO 1665.41 36688 04/14/99 DES065 DESERT TEMPS INC 1561.00 36689 04/14/99 DII050 CHRISTINE DIIORIO 154.60 36690 04/14/99 DRE050 DREAM ENGINEERING INC 29.90 36691 04/14/99 DRU100 DRUMMOND AMERICAN CORP 405.23 36692 04/14/99 EAG100 EAGLE/BENEFICIAL NATL BNK 600.77 36693 04/14/99 ECO010 ECONO SEWER SERVICES 16110.00 36694 04/14/99 FRA030 FRANKLIN COVEY 348.25 36695 04/14/99 GAL050 GALL'S INC 55.98 006 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 10:10AM 04/14/99 CITY OF LA QUINTA BANK ID: DEF PAGE 2 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT 36696 04/14/99 GAS010 GASCARD INC 604.23 36697 04/14/99 GE0010 GEORGE'S GOODYEAR 10.00 36698 04/14/99 GRA010 GRANITE CONSTRUCTION CO 76.45 36699 04/14/99 GTE010 GTE CALIFORNIA 3363.73 36700 04/14/99 GUM050 BRAD GUMMER 1008.00 36701 04/14/99 HAR015 MARK HAROLD 30.00 36702 04/14/99 HEG050 JIM HEGGE 988.60 36703 04/14/99 HER010 JERRY HERMAN 580.87 36704 04/14/99 HIG010 HIGH TECH IRRIGATION INC 19.68 36705 04/14/99 HOL030 HOLMES & NARVER INC 9607.34 36706 04/14/99 HOM030 HOME DEPOT 141.79 36707 04/14/99 HOM100 HOME TRENDS 22.95 36708 04/14/99 H00050 FAYE HOOPER 100.00 36709 04/14/99 JOB020 JOBS AVAILABLE INC 397.44 36710 04/14/99 JPRO10 JP REPROGRAPHICS 530.54 36711 04/14/99 KEI010 KEITH COMPANIES 3901.16 36712 04/14/99 KEL010 KELLY SERVICES INC 3913.91 36713 04/14/99 K00O25 MARGE KOCH 80.00 36714 04/14/99 KOR050 KORVE ENGINEERING, INC 10680.39 36715 04/14/99 KRI100 KRIBBS CONSTRUCTION 3823.00 36716 04/14/99 KSL052 KSL DESERT RESORTS INC 4449.52 36717 04/14/99 LAQ030 LA QUINTA CAR WASH 30.80 36718 04/14/99 LAQ100 LA QUINTA VOLUNTEER FIRE 567.75 36719 04/14/99 LIN050 JAMES LINDSEY 108.48 36720 04/14/99 LOP050 RAY LOPEZ ASSOCIATES 4200.00 36721 04/14/99 LUB050 LUBE SHOP 52.53 36722 04/14/99 LUN050 LUNDEEN PACIFIC CORP 34597.44 36723 04/14/99 MCDO10 MC DOWELL AWARDS 15.62 36724 04/14/99 MCK010 McKESSON WATER PRODUCTS 422.55 36725 04/14/99 MOR050 ANTHONY MORENO 50.00 36726 04/14/99 MUN010 MUNI FINANCIAL SERV INC 2869.07 36727 04/14/99 NAW010 RON NAWROCKI 2000.00 36728 04/14/99 NEG050 DEBBIE NEGRINELLI 19.20 36729 04/14/99 NEP010 NEPTUNE ELECTRIC 2790.00 36730 04/14/99 NEX010 NEXTEL COMMUNICATIONS 1257.69 36731 04/14/99 NIC100 NICKERSON, DIERCKS & ASSC 10823.00 36732 04/14/99 NOR020 NORTH AMERICAN RUBBER 34.99 36733 04/14/99 OFF005 OFFICE DEPOT INC 193.94 36734 04/14/99 OLI100 OLINN MESSAGE CENTER 74.84 36735 04/14/99 OUT100 OUTDOOR SERVICES INC 100.00 36736 04/14/99 OWE020 OWEN & BRADLEY 1361.75 36737 04/14/99 PAG100 PAGING NETWORK SAN DIEGO 28.27 36738 04/14/99 PER010 RONALD A PERKINS 27.36 36739 04/14/99 PER100 PERSONAL TOUCH MOBILE 138.00 36740 04/14/99 PIN050 PINK INC 600.00 36741 04/14/99 PLA100 PLAZA SHELL 150.00 36742 04/14/99 PRE015 THE PRESS -ENTERPRISE CO 128.45 36743 04/14/99 PRI020 THE PRINTING PLACE 320.02 36744 04/14/99 RAL050 RALPHS GROCERY CO 47.48 007 ACCOUNTS PAYABLE - AP5005 CITY OF LA QUINTA CHECK CHECK NUMBER DATE 36745 36746 36747 36748 36749 36750 36751 36752 36753 36754 36755 36756 36757 36758 36759 36760 36761 36762 36763 36764 36765 36766 36767 36768 36769 36770 36771 36772 36773 36774 36775 36776 36777 36778 36779 36780 36781 36782 36783 36784 36785 36786 36787 36788 36789 36790 36791 36792 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 04/14/99 CHECK REGISTER BANK ID: DEF NO. RAS020 REL100 RIV080 RIV083 RIV100 RIV101 RIV150 RUT050 SAM100 SAN043 SAX100 SEC050 SED100 SHAO05 SHAO10 SIM025 SKI050 SMAO 10 SMI010 SM0010 SOCO10 S00075 SOU007 SOU010 SPRO10 STA045 STA050 SUN075 SUR100 TAP100 TAR050 TDD052 TER020 TH0050 TKDO10 TOP010 TRA020 TRU010 TTI100 UNI200 USO100 VIK010 VON010 WAL010 WAL040 XER010 YOU100 VENDOR NAME 10:10AM 04/14/99 PAGE 3 RASA - ERIC NELSON RELIANT FUND-RAISING RIVERSIDE COUNTY HEALTH RIV CNTY INFORMATION RIVERSIDE COUNTY SHERIFFS RIV COUNTY SHERIFF/INDIO RIV COUNTY TRANSPORTATION RUTAN & TUCKER SAM'S FENCE COMPANY CLINT SANDUSKY SAXON ENGINEERING SERVICE SECURITY LINK/AMERITECH SEDWAY GROUP SHADE STRUCTURES SHADOW PALMS GARDENING SIMON MOTORS INC SKILLPATH SEMINARS SMART & FINAL MARILYN SMITH DONNALDA SMOLENS THE SOCO GROUP INC SOCCER CONNECTION ** AP CHECK RUN VOID ** SOUTHWEST NETWORKS, INC SOUTHERN CALIF GAS CO SPRINT STAN'S AUTO TECH STAPLES SUNLINE TRANSIT AGENCY SURVIVOR INDUSTRIES INC TAPUZ ENTERPRISES INC TARGET/DAYTON'S T D DESERT DEVELOPMENT TERA-STORAGE SOLUTIONS IN THOMPSON PUBLISHING GROUP T.K.D. ASSOCIATES INC TOPS'N BARRICADES INC TRANSAMERICA TRULY NOLEN INC TTI NATIONAL INC UNITED RENTALS US OFFICE PRODUCTS VIKING OFFICE PRODUCTS VON'S C/O SAFEWAY INC WAL MART STORES INC ED WALKER XEROX CORPORATION YOUNG ENGINEERING SERVICE CHECK TOTAL PAYMENT AMOUNT 2665.00 98.50 1135.00 657.92 2760.00 225.09 5881.96 551.57 1200.00 400.00 2905.00 453.36 8798.76 900.00 150.00 277.23 149.00 423.32 76.93 125.00 112.22 94.80 12391.96 585.30 811.49 446.46 510.41 1415.79 381.95 39892.53 303.12 10227.98 315.00 248.00 6735.00 11.04 140.75 156.00 12.55 2200.71 167.97 123.51 8.04 245.76 73.98 600.12 5092.50 391,266.82 00I o� rn dd H Z o n o -+ n � 0 W .S a 5 U H m r O H r O H r O H p r CDO of E. r ET H (D O C' F N H� E4 N 7' F N N EY d' H F N N E-1 H H H N N E E N F N N H F p p N H H N E} H N o� H W a H 2 Q O O to ti O O G O O O O r O ifl O O O a1 O O O O •y' O O� N N O C� 'D l0 10 iD w lD iD of H z O N o w O o ID O O a -r f+ o F w � O m ❑ O o r v rn z a O u H m H a F z a a ElZ F a U a u It H m 8 ul H F W aF .7 H w 0 za �o a ❑ 0 q ❑ 0 ❑ O n rQ x 0 o ❑ ❑ q m m W a m U o ❑ ❑ m o ❑ z m m o w ❑ m m w w m m w w m m w w r m w ti m m w w m w m w u m z z w - > U. z w z cG z z z w 7D w a z cn m z z w 5 > w a z w > a 5a w z a w a > m a a w a. a' m m a a a, D+ 7 P� m m a a a a .�''j m m a a m a a a a m m a a m a a m w w U w n O a ^L z Z. x w f I O) a � RI W W a O H ry w W R7 u� "I' � o O d' 0 O O 0 O CD 0 O O o O n m m o O m r u� m m r vi m m r m m r ui m QJ m m r w m �n C9 ZD O O C1 4 •a 0 0 O O -a p O O O .r O O O O � O O O O •a 0 O O � O O O O iD �n O r in O r r �n in O O r r in in O O r r ifl in O O r �n O r n in O O r O r O O w C^ O CI O s a� 6 a W El a Z � a " ❑ Z❑, 6 w 7 z w [Zq� t F O � F � 3q � 3q 3q 5 5 3 3q � � 3q 3q 5 x 3q 5 3q 3q x c3� 3q a m a z ❑ rl a m m c x a a m a a ❑ 4 t 6 t •C 4 G •C C a ¢ 4 a U F O O 0 r CD 0 r 0 10 r O 0 r CDx o O G W u O O W W u u O O W W u u O O W W u u O W u O O W W u v O W u O w u H Z rn rn a ? 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Q� Nl r 0 .+ O O O O O o N r-1 a} m r v O r 0 10 0 ift m W � Z O w p 7 a m W o F' SF� W p Q 1 Z w w>> > n F O H w H o O W a W m m 2 E7- �' w w w m Ela,W p F S H N W H vOpl F w 5 a 5> m in m m a H O E+ x �-+ m Z 5> m Elv>7 �1 fl�j W a g W Z p> u v, U U U U U a m N C>il M F W. J4 U U U U U U w w w w w w x U U U U U U Q QQ QQ Z a a a a a a a H o a, m O N N m n H z Q 7 a 4 m w m rz O p [s. w o 0 0 C O 0 0 o 0 0 0 0 O in U� OQOO 0 0 0 0 H r N H N N „1 N N N N N N N N N N N t•1 M O Q N W W W W W W H H H Om w F m H r a w Q a m E.., p H Q U o o Z Cn o 0 a a H w w 0 w O O m m E+ F U O 0 0 x ° °i o o Z z x > > W .� U H > w m m z O> z0 U U u U U z z z z H H n m m m F H E H E a a x a ? a a¢ a 3 3 3 3 3 .7 •�- y 3 o w E 0 0 ° x O p W H H H a a a a a WWWWWW Ul m m m m m 0 0 H H Z H H H w w w w w w w w w w w w Z z z z z z z z z z z z w w w w w w z Z z z n z o 0 0 0 0 0 r r r r> O O O O O O O O O O O O W .2 o4 w m o J n .-0 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.*** 36647 04/06/99 &00757 HENRY TRAN 36648 04/06/99 CAL015 CALIF BUILDING OFFICIALS CHECK TOTAL 2:37PI�i U-t/ uoi PAGE 1 PAYMENT AMOUNT 50.00 250.00 300.00 0 2-17 z rn 0 El E 6 Rl a a o p N O O F [ujj N � � d O O O O o � N V} N F [W U. n, a W z Fp � O offo O N H W w � S o❑ j a n H w F W w r4 ❑ w > 0 > o N a a w w u H w ❑ a z E z H x a m w m a O O W F a O O w O O r� F j O O � � O o n U � O O Q U r� U+ O W O Z H w H z � w .. � r a iz w a ❑ z x ul z u O 2 0 O O 9F C H Z W W ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 4:05PM 04/01/99 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK NUMBER CHECK DATE VENDOR NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** PAYMENT AMOUNT 36619 04/01/99 ABE001 JAQUES ABELS 75.00 36620 04/01/99 BOB100 BILL BOBBITT 50.00 36621 04/01/99 BROO10 DIANA BROWN 50.00 36622 04/01/99 BUL100 JAMES BULGRIN 50.00 36623 04/01/99 BUT010 RICHARD BUTLER 75.00 36624 04/01/99 CAT100 CATELLUS RESIDENTIAL 182787.00 36625 04/01/99 CUN100 DENNIS CUNNINGHAM 50.00 36626 04/01/99 DAV010 MIKE DAVIS 50.00 36627 04/01/99 IRWO10 JOSEPH IRWIN 50.00 36628 04/01/99 IRWO20 BARBARA IRWIN 50.00 36629 04/01/99 LEW010 TOM LEWIS 50.00 36630 04/01/99 LOP100 GILBERT LOPEZ 50.00 36631 04/01/99 MIT150 MICHAEL MITCHELL 50.00 36632 04/01/99 MOU100 DONALD J MOULIN 50.00 36633 04/01/99 NAT250 NATURE CONSERVANCY 19805.36 36634 04/01/99 OSBO50 LEE M OSBORNE CPA 50.00 36635 04/01/99 PED010 KATHRYN PEDERSEN 50.00 36636 04/01/99 PUE050 MARIA L PUENTE 50.00 36637 04/01/99 REB050 JOAN REBICH 50.00 36638 04/01/99 ROB150 STEVE ROBBINS 75.00 36639 04/01/99 SOR100 SOROPTIMIST INTERNATIONAL 18.00 36640 04/01/99 STJO10 VICTORIA ST JOHNS 50.00 36641 04/01/99 TYL050 ROBERT T TYLER 75.00 36642 04/01/99 URB100 PETER URBON 5782.75 36643 04/01/99 VOS050 JUDY VOSSLER 50.00 36644 04/01/99 WEL025 WELLS FARGO BANKCARD 1962.45 36645 04/01/99 WOL010 KAY WOLFF 50.00 36646 04/01/99 WRI050 ROBERT S WRIGHT 50.00 CHECK TOTAL 211,605.56 N t1 N N H Z rn O o f o w E o 0 0 0 0 0 0 0 0 0 0 0 d 0 d 0 d U, d d d d d d d d d d d F F H El H H H H H F H H H F E H w a rn r o O O O o O o O O O O O O O O rl H O O O O O O O O O O O O O O O Z in O O O ui O O 1 O O N O O O 0 O r r O O N O O l0 ttl 0 0 in 0 0 u� r 0 0 0 0 0 0 0 0 0 u in 6 � N v] cn vI N W v7 W Z O m O m W a w a W a w a a a ry E m H > o a 0 a 0 a 0 a 0 a 0 a m H a El w w w w w w rn pp,, a' qw cn 'r a gypp' rn n vi rn v� m Hpp :1' H vi p�O pHp pHp w w w w w w p H v�ui [� pp H F oo F a W F F E z E+ w E F w w w w\ w o E z O O a a o O a a O z o ?+ E a a o O o o CG H a O C ] O W H H q w Z W z U Z Z Z Z rn Z Z Z r-i �-+ Z 2 WZ �/1 WZ HV w ¢ w u>>> ¢> a a a a a a> u>> m o a E F F F E E a O H w n, i w n a w 0) 0)rn 0)m 0) m rn rn m m rn rn rr rn n ti z a 2 m w m a o0 w F' a 0 0 0 0 0 r+ m o -� m 0 0 0 O 0 O 0 o w m p p p O O O O O O O r iD �n to �o u1 r �D �n ift r �D o O O O O O O) O O� 0 y O p O O O O D ID 0 O D O ID O •--� .-� .-1 rl .-� r1 r'1 nl N N N .ti .1 .� rl 0. 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E+ Oo of E a w m El > vwi H W OO m F a au ti w o> m .7 H H H 0 w F+ m O m z F w m z H w m H F w w m z a2 F F w o G] F a O o u > m F a > vWi H w F pp m F w z u a O O O W G� n ow m Q rn m v m s m N m r m o m ❑ o rn £ rn 0 0 o tD 0 m 0 0 rn �D 0 rn m w m a 0 o w F a O 0 0 O 0 O O 0 O O 0 O O 0 O O 0 O O 0 O O 0 O O i rn � ry rn r O 'D r nt � r ID O r r1 r ri rn O rn O H z ti O O OOr rl N O ti O � O N O ul O N ,y O U FC O O O O O 0 0 V 0 O "1' O O O W u u u u u El r a G a m I� ❑ z H F W a 0 � m w w W m o > N h O O w m a O a ¢ w m s O O w m a O a 2 G. m rl O aw FC w m a w w a 3 a m F a w Z O' O J O O m � O WaW S O a W O a 3 O a 3 O a 3 O a 0 O 3 A/P - AP6002 CHECKS TO BE VOIDED 10:05AM 04/0:�/°i' CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME INVOICE DESCRIPTION 34018 DEF 06/30/98 1375.36 USD100 US DEPT OF THE INTERIOR FRINGED TOED LIZARD HAB FEE 35121 DEF 11/10/98 17430.00 USD100 US DEPT OF THE INTERIOR FRINGE -TOED LIZARD FEE TOTAL VOIDED 18,805.36 Td!t 4 4Q" COUNCIL/RDA MEETING DATE: April 20, 1999 ITEM TITLE: Transmittal of Treasurer's Report as of February 28, 1999 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of Treasurer's Report dated February 28, 1999 for the La Quinta Redevelopment Agency. FINDINGS AND ALTERNATIVES: I certify that this report accurately reflects all pooled investments and is in compliance with California Government Code Section 53645 as amended 1 /1 /86; and is in conformity with City Code 3.08.010 to 3.08.070 Investment of Money and Funds. I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet next month's estimated expenditures. �x 4 c John M. Falcondr, Finance Director Attachment: Treasurer's Report, La Quinta Redevelopment Agency 034 MEMORANDUM TO: La Quinta City Council FROM: John Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for February 28, 1999 DATE: March 29, 1999 Attached is the Treasurer's Report for the month ending February 28, 1999. This report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. Cash and Investments: Decrease of $813,701. due to the net effect of expenditures in excess of revenues. State Pool: Increase of $5,100,000. due to the net effect of transfers to and from the cash and investment accounts. U.S. Treasury Bills, Notes, Government Agency Securities and Commercial Paper: Decrease of $4,073,152. due to the sale of one Security, one T-Note, four Commercial Paper investments, the purchase of 2 Securities and monthly adjustment in the amortized value of the investments. Mutual Funds: Increase of $627,208. due to a transfer from cash for debt service payments due and interest earned. Total increase in cash balances $840,355. I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. 'The City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. tvf � 3 ") ohn M. Falconer Date inance Director/Treasurer �Q x E d r O n J N c d N C O N a r c E .LO-• P Q C N � N N E J c o E G x o m v a w d c aE o E r y a � 3 c CD m m `m n in m � E m w w c c � C O O C O' O' CI CIO', O' IC O O O O O 10 IO O O IOI Ip T I Z. Z '�. Z �� Z '. ' Z � I Z Z I x NCh I m 0 V li O J b INI O IVI UI �I, IIa _ at) Q c 0 O o 0 U: N W. L O DI �I U I a a o o! ILL ILLII CD N� V c V 1 C ! N V N v I N V $I v' N N N OI N U° � ° {p Om N 20 Q5� �25 552�I E N�OO n 8 N' O- m 0 N> N C m 125i j d Ev � o m N fz ml N f E c 2 d u O N O. C $ N '� .V VI sOw CD N N d > O 1m0 I O O to n O ,N 9 S N 101 N n O p f S O I m v) S S ELe fn I N S n. E — x tu o m co '' o f Im ,l n, o Icy o Ire Q IZ a n a O N N N im?I7� ImY ' , M o Z I o f I � U. 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C N U> 2-0 d a R': C CO C U tl a)l CO '= m x CO N CO C)I O I m L C m ml IL U) 0 0 W Cn X O U clIH iZl U W Z v m O O CL O 0 -- 0 O - 04 O O M co 01� N O A Ivc � OOOI N OA N LI �I to o oI C) C) CD, LIDI C) O: A IN L A U c co 0 CD CA7 IO C)O C) O (n O co C, 'q� M N m O' O�to IN m i IN O V A M � 0) C)� O co 0 a0 04 IN O A n M o C, of A t) 0 IN N O CL CA 1 40 1.9 CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHZET 02/28/99 FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH 8,528,274.76 7,797,345.55 (8,408,98) 16.317.211,33 LQRP INVESTMENT IN POOLED CASH 680,000.00 680,000.00 INVESTMENT T-BILL/NOTES d OTHER 18,000,000.00 18,000,000.00 LORP CASH 22.824.94 22,824,94 BOND REDEMPTION CASH 1,999,796.97 50240 2,000,299.37 BOND RESERVE CASH BOND PROJECT CASH 14,977,829.21 581.241.22 15,559,070.43 BOND ESCROW CASH PETTY CASH 1,000.00 1.000,00 CASH R INVESTMENT TOTAL 26,529,274.76 25,477,796.67 573.334.64 52,580.406,07 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 58,208.52 81.257.68 8,505,000.00 8,644,466.20 PREMIUM/DISCOUNT ON INVESTMENT (201,749.75) 45,242.46 2,072.00 (154,435.29) LQRP-ACCOUNTS RECEIVABLE 35,521.02 35.521.02 INTEREST RECEIVABLE 4.950.00 142,955.80 147.905,80 LOAN/NOTES RECEIVABLE 15.197.79 2,528,967.76 2,544,165.55 DUE FROM OTHER AGENCIES DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 12,511.40 551,038.04 563;549.44 DUE FROM RDA 6,890,277.20 6,890,277.20 INTEREST ADVANCE -DUE FROM RDA 808.251.86 808,251.86 NSF CHECKS RECEIVABLE 1,846.40 1,846.40 ACCRUED REVENUE (8,192.68) (8,192.68) TRAVEL ADVANCES 1,460.00 1,460,00 EMPLOYEE ADVANCES PREPAID EXPENSES RECEIVABLE TOTAL 7,590,953.42 3,376,790.08 8.507.072.00 _ 19,474,815.50 WORKER COMPENSATION DEPOSIT 37,637.00 37,637.00 RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 2,100.00 DEPOSITS TOTAL 39,812.00 39,812.00 GENERAL FIXED ASSETS 1,098,865.00 15,008,708.00 11,438,745.05 27,546,318.05 ACCUMULATED DEPRECIATION (686,328.46) (686.328.46) AMOUNT AVAILABLE TO RETIRE UT DEBT 3,395,117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR LIT DEBT 1,944,070.34 98,170,130.14 8,505,000.00 108,619,200.48 TOTAL OTHER ASSETS 412,536.54 15,008,708.00 1,944,070.34 11,438,745.05 101,565,247.17 8,505,000.00 138,874,307,10 TOTAL ASSETS 34.22.5 576.72. 15 008,708.00 1 944 070.34 28 854 546.75 11 438.745.05 101 565 247.199 080 406 _64 8 505,0 00.00 210.969 340.67 LIABILITY ACCOUNTS PAYABLE DUE TO OTHER AGENCIES DUE TO OTHER FUNDS INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES STRONG MOTION INSTRUMENTS FRINGE TOED LIZARD FEES SUSPENSE DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 7.706.95 655,959.10 (1,152.00) 8,546.52 1.985.28 20.840.00 22,139.53 551,038.04 693.685.85 22,139.53 551,038.04 29,846.48 655,959.10 13,663.40 563,549.44 8.546.52 1,985.28 20,640.00 13,663,40 1,280,526.82 ENGINEERING TRUST DEPOSITS 58,224.09 58,224.09 SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 394,988.29 394.988,29 LQRP DEPOSITS 15,386.99 15,386.99 DEVELOPER DEPOSITS 882,058.46 882,058A6 MISC. DEPOSITS 153.285.30 153.285.30 AGENCY FUND DEPOSITS 1,352,709.64 1,352,709.64 TOTAL DEPOSITS 2,841,265.78 15,386.99 2,856,652.77 DEFERRED REVENUE 14,229.79 8,505,000.00 8,519,229.79 OTHER LIABILITIES TOTAL 14,229.79 8,505,000.00 8,519,229.79 COMPENSATED ABSENCES PAYABLE 313,619.81 313,619.81 DUE TO THE CITY OF LA QUINTA 1,608,311.00 9,498,530.27 11,106,841.27 DUE TO COUNTY OF RIVERSIDE 12.601.591.90 12.601.591.90 DUE TO C.V. UNIFIED SCHOOL DIST. 10,690,125.00 10,690,125.00 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 68,775,000.00 8,505,000.00 77,280,000.00 TOTAL LONG TERM DEBT 1.921.930.81 101,565,247.17 8,505,000.00 111,992,177.98 TOTAL LIABILITY EQUITY -FUND BALANCE 3,549.181,42 31,023,395.30 15,008,708.00 1,944,070.34 566,425.03 101,565,247.17 8,518,663,40 8,505,000.00 124,648,587.36 28,288,161.72 11,438,745.05 561,743.24 86,320,753.31 TOTAL LIABILITY & EQUITY 34 572 576.72 15 008,708.00 1.944.070 34 28 854 586.75 11 438 745.05 101,565,247.17 9 880 4Q6 _64 8 505.000.0 2210 969.340.67 4 .` n Ti-4 4 4Qumrw COUNCIL/RDA MEETING DATE: ITEM TITLE: April 20, 1999 Adoption of the City's 1999-2000 Economic Development Plan RECOMMENDATION: Adopt the 1 999-2000 Economic Development Plan. AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: FOR FURTHER INFORMATION, PLEASE REFER TO CONSENT CALENDAR ON THE CITY COUNCIL AGENDA. 0,13 T4'ht 4 4a Q" AGENDA CATEGORY: BUSINESS SESSION: I COUNCILIRDA MEETING DATE: April 20, 1999 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: Consideration and approval of an Exclusive Negotiation Agreement By and Between the Redevelopment PUBLIC HEARING: Agency and A. G. Spanos Corporation Regarding 12+ Acres Located Along Adams Street North of 481h Avenue and Authorization for the Chairman to Sign the Agreement RECOMMENDATION: Approve the Exclusive Negotiation Agreement, authorize the Chairman of the Redevelopment Agency to sign the Agreement, and authorize the appropriation of $100,000 to fund the planning and entitlement activities. FISCAL IMPLICATIONS: The Agreement provides that the Agency reimburse A. G. Spanos Corporation for up to $100,000 of planning, building, design and entitlement processing costs. The source of these funds would be the Project Area No. 2 Low and Moderate Income Housing Fund. (Reserve Account 246-000-300-290) BACKGROUND AND OVERVIEW: A. G. Spanos Corporation has been processing entitlements to facilitate the development of a 160 unit apartment complex adjacent to Lake La Quinta. The Agency is asking the Spanos Corporation to consider moving their project to the Agency -owned property located northwest of the Adams Street and 481h Avenue intersection and include approximately eight affordable units. The Agency purchased this 50 acre parcel in 1995 to accommodate the development of affordable housing and is currently considering a development proposal from RecreAction Group of Companies for this property. An apartment project, with affordable restricted units, would be more appropriate on the Low Mod site than at its proposed location. In order to initiate the site planning and economic analysis activities necessary to determine whether or not Spanos can be accommodated on the Agency property, staff proposes that the Agency enter into the attached Exclusive Negotiation Agreement. The Agreement provides that the Agency and Spanos would: 044 CCJH.O11 • Exclusively negotiate for 90 days regarding the disposition and development of a 12 acre parcel of the Agency property; • Conduct site planning and economic analysis activities, prepare and process environmental and planning entitlements, and prepare and process an affordable housing agreement-, • Coordinate the site planning activities with those of RCG; and • Hold one community meeting to review the revised Spanos development proposal prior to entering into the entitlement and affordable housing agreement process. Further, the Agreement provides the Agency would reimburse Spanos for up to $100,000 of site planning and entitlement processing costs. FINDINGS AND ALTERNATIVES: Alternatives available to the Agency include: 1. Approve the Exclusive Negotiation Agreement, authorize the Chairman of the Redevelopment Agency to sign the Agreement, and authorize the appropriation of $100,000 to fund the planning and entitlement activities-, 2. Do not approve the Exclusive Negotiation Agreement, do not authorize the Chairman of the Redevelopment Agency to sign the Agreement, and do not authorize the appropriation of $100,000 to fund the planning and entitlement activities; or 3. Provide direction to staff. J6ry Herman mmunity Development Director Attachment: 1. Exclusive Negotiation Agreement CCJH.011 ..• L4J EXCLUSIVE NEGOTIATION AGREEMENT BY AND BETWEEN LA QUINTA REDEVELOPMENT AGENCY AND A.G. SPANOS CORPORATION THIS AGREEMENT (the "Agreement") is entered in this day of April, 1999, by and between the LA QUINTA REDEVELOPMENT AGENCY (the "Agency"), and A.G. SPANOS CORPORATION (the "Developer") on the terms and provisions set forth below. RECITALS WHEREAS, on May 16, 1989, the City Council of the City of La Quinta adopted the Redevelopment Plan for La Quinta Redevelopment Project No. 2 that established the La Quinta Redevelopment Project Area No. 2 (the "Project Area"); and WHEREAS, the Agency is the owner of certain real property within the Project Area, as further described herein (the "Agency Property"); and WHEREAS, the Developer is the owner of certain real property within the Project Area as further described on Exhibit "A" (the "Developer Property"); WHEREAS, the Developer is interested in purchasing and developing a portion of the Agency Property (the "Site") to carry out the objectives of the Redevelopment Plan; and WHEREAS, the Agency desires to facilitate the Developer's development proposal which entails the construction of up to 168 multi -family units of which eight units may be affordable per the Agency's housing mandates on the Site; WHEREAS, the Agency and the Developer desire to enter into this Agreement to: (i) initiate exclusive negotiations for up to ninety (90) days; (ii) determine the type and nature of development that would be constructed on the Site; (ill) establish the framework responsibilities, schedule, and financial parameters for such development; (iv) establish a purchase price for the Site laquinra\spanos\excI negagin t 1 First Dxa'fts4N' q9 including the possibility of a land exchange for the Developer Property; (v) prepare and process entitlements for the Developer's development proposal; and (vi) formulate the terms and draft an affordable housing agreement ("AHA"). NOW, THEREFORE, in consideration of the recitals and mutual covenants and conditions contained herein, the parties hereto agree as follows: I. (Section 100) Site A. (Section 101) Site Description The Site constitutes the real property that is the subject of this Agreement. The Site is generally a twelve (12) acre parcel located in the northeast corner of the fifty (50) acre Agency Property, which is located northwest of Avenue 48 and Adams Street, as depicted on Exhibit "B" to this Agreement. The Agency is currently in discussions with RecreActions Group of Companies ("RGC") regarding the development of the Agency Property. II. (Section 200) Negotiation A. (Section 201) Good Faith Negotiations Commencing on April 26, 1999 (the "Commencement Date"), the parties agree to negotiate in good faith to formulate a plan for Site development (the "Plan"). Negotiations regarding the Plan shall include and delineate, without limitation, the following elements: Property; (1) The type and scope of development, (2) The interface of the Site development with the buildout of the Agency (3) The schedule for development activities; (4) An itemization of development needs and costs, on- and off -site improvement needs and costs, and any state and local regulatory requirements and associated costs; l hiquurta\spannsAescI negagntt 2 First 6rd4 4'14 (5) The value of the Site and the Developer Property; (6) The improvements to be made to the Site, the surrounding area and support infrastructure in connection with Site development; (7) The entitlements necessary to facilitate Site development; (8) The funding responsibilities, projected amounts, timing, and sources to facilitate Site development; and (9) The parties/entities, and their responsibilities, for implementing Site development activities. Prior to finalizing the Plan, the parties also agree to holding at least one (1) community meeting to solicit public input and comment. Following the completion of the Plan, the parties agree to further negotiate diligently and in good faith, to prepare a AHA that implements the Plan, and process the entitlements necessary to develop the Site. B. (Section 202) Period of Negotiation The Agency agrees to exclusively negotiate with the Developer as follows: (1) During a thirty (30) day period following the Commencement Date, the Agency and Developer shall formulate the Plan. Concurrent with this effort, both parties shall confer with RGC who is formulating site plans for the Agency Property to insure that the Site development proposal is compatible with the development plans for the Agency Property. The Developer and Agency will hold at least one (1) meeting to solicit community input on the Plan during this period. (2) Following completion of negotiations with respect to the Plan, the Agency agrees to further negotiate exclusively with the Developer for an additional sixty (60) days to: (1) prepare and finalize a AHA; U4,- Ia(Iumta\spanos\excInegagntt First Daft 4/8/99 (ii) prepare and process the required environmental and other entitlements as necessary for Site development. If, ninety (90) days following the Commencement Date the Developer has not executed and submitted a AHA to the Agency or the Agency determines it does not wish to proceed with development of the Site, then any party to this Agreement may terminate this Agreement by delivery of written notice to the other parties. Until receipt of such written notice, this Agreement shall remain in full force and effect and the parties shall continue to negotiate in good faith. The parties to this Agreement have the option to extend the negotiating period if, due to no fault of the parties to this Agreement, delays occur that are beyond the control of the Agency and the Developer. Upon submittal of a signed AHA by the Developer, and provided that all studies and documents required for project environmental and land use applications have been completed and accepted by the City of La Quinta (the "City"), then this Agreement shall be extended for thirty (30) days from the date of such submittal to enable the Agency and the City to: (l) Take the actions necessary to authorize the Agency and the City to execute the AHA if the Agency and the City desire to do so after the required public hearing; and (2) Execute the AHA. The Agency agrees that during the negotiation period set forth above the Agency shall neither negotiate or enter into a AHA or agreement with any other person or entity regarding the Site. The obligation to negotiate in good faith requires the respective parties to communicate with each other with respect to those issues for which agreement has not been reached, and in such communication to follow reasonable negotiation procedures, including meetings, telephone conversations, and correspondence. It is understood by the parties that final accord on all issues may not be reached. It is also understood that neither party is under any obligation to reach agreement on the AHA, and IapintaAspanos\cxcIneeagmt 4 First Draft 4/9�7 ��"� the Agency has no authority to make any commitments regarding the AHA until after the required public hearing concerning the AHA. C. (Section 203) Agency and Developer Obligations During the Period of Negotiation, as set forth in Section 202 of this Agreement, Agency and Developer obligations shall include, but not be limited to, the following: (1) Agency Obligations. (a) Agree not to convey, negotiate for, or enter into any agreement regarding the Site with any other entity; (b) Negotiate in good faith with the Developer to define the scope, terms, and conditions for Site development activities; (c) Provide the Developer with documents in Agency possession that would assist the Developer with Site due diligence activities; (d) Assist Developer with environmental and land use entitlement applications, as necessary; (e) Consider Developer requests for Agency financial investment in Site development activities, if such assistance is determined by the Agency to be necessary to facilitate Site development, (f) Coordinate the planning efforts of the Developer and RGC; (g) Upon approval of the Plan and verification of Developer financial commitments to both purchase and develop the Site, prepare or cause to be prepared, a AHA; (h) Reimburse the Developer for direct costs associated with preparing site plans, landscape plans, grading and drainage plans, and environmental and land use entitlement documents related to the design and entitlements necessary for site development. Said ►- ,� reimbursement shall not exceed $100,000. laquintaAspanos\ex cl nepemt 5 First Draft 4/9/99 (2) Developer Obligations. (a) Agree to use its best efforts to investigate the Site; (b) Negotiate in good faith with the Agency to define the terms and conditions for Site purchase and development activities, and the Agency's involvement therein; (c) Interface with RGC to insure that the Site development proposal is compatible with the development plans for the Agency Property. (d) Submit site plans, elevations, schematic drawings, and any other documents reasonably necessary for Agency approval; (e) Submit proof of lender funding or loan commitment(s) that demonstrate sufficient capital to fund both Site purchase and development activities; and (f) Submit proof of Developer cash equity necessary to fund Site purchase and development costs not funded by commercial lender loans or partnership funds. III. (Section 300) AHA Provisions The parties hereto acknowledge that the financial feasibility of the activity to be proposed by the Developer and the terms of the AHA are yet to be determined; each party assumes the risk that, notwithstanding this Agreement, there is no assurance that the parties will enter into a AHA. IV. (Section 400) Miscellaneous A. (Section 401) Developer's Findings, Determinations, Studies, and Reports From time to time, the Developer agrees to make oral and/or written progress reports advising the Agency of all material matters and studies being conducted by the Developer with respect to the Plan. No reports or studies by the Developer submitted to the Agency shall imply any warranty of any kind on the part of the Developer as to the accuracy or completeness thereof, and the Agency agrees to hold the Developer harmless with respect to any use by the Agency of any such information. 6, J (aqum[aAspanos\ewj negaeun 6 First bt,"�4/99 ;- 9, B. (Section 402) Purchase Price and Other Consideration The purchase price for the Site or other consideration to be paid by the Developer under the AHA shall be established by agreement among the Agency and the Developer. The purchase price and other consideration shall be based upon such factors as market conditions, density of development, cost of development, risks incurred, estimated or actual profit, estimated or actual sales and/or rental prices of the facilities to be developed, public purpose and other criteria relevant to the establishment of the fair value for the use permitted to be developed. C. (Section 403) Assignment This Agreement shall not be assigned by the Developer without prior written approval of the Agency. The Agency agrees that, notwithstanding the foregoing, the Developer may assign its rights under this Agreement to a corporation, trust, or partnership of which the majority beneficial interest and operational control is owned by the Developer. V. (Section 500) The Developer A. (Section 501) Nature of the Developer Concurrent with the submission of the executed AHA, Developer shall submit a copy of an executed partnership or other agreement between or among its principals. Financial information sufficient to ascertain the ability of Developer to perform under this agreement may also be provided. B. (Section 502) Project Manager and Employees of the Developer The Project Manager for the Developer is: Mr. Ray Hanes A. G. Spanos Corporation 9449 Friars Road San Diego, CA 92108 aqumta�spanos�cn-cinegagmi 7 First Draft 4/A/99 Other Developer employees or representatives who will be directly involved in this project will be determined by Developer. C. (Section 504) Eull Disclosure The Developer is required to make and maintain full disclosure to the Agency of its principals, officers, stockholders, partners, joint venturers, and all other pertinent information concerning the Developer. VL (Section 600) Agency and City Responsibilities A. (Section 601) Redevelopment Project The Redevelopment Plan for the La Quinta Redevelopment Project No. 2 was approved by the Agency on May 16, 1989. The Agency shall continue to use its best efforts toward securing the goals of the Redevelopment Plan. B. (Section 602) Environmental Requirements The Agency and the Developer shall, with assistance of the City, prepare all necessary environmental documents as required by the California Environmental Quality Act (Public Resources Code Section 21,000 et. seq.) and local regulations, for certification by the City. The Developer agrees to cooperate with the City and Agency, as requested, to help determine the environmental impact of the proposed development and to prepare any other additional documents as may be needed to complete environmental review for the development of the Site. C. (Section 603) Agency and City Assistance and Cooperation The Agency and the City shall cooperate fully in providing the Developer with appropriate information and assistance as requested. J IJ 4 r 8 � 00 t I�yuin�e�spanos\c�clne�u�mit �'1CSC Draft 4/9/ VII. (Section 700) Real Estate Commission The Agency and the Developer each represent to each other that neither have engaged any broker, agent, or finder in connection with this transaction and each agrees to defend, indemnify, and protect and hold the others harmless from any claim by any broker, agent, or finder retained by such indemnifying party. IN WITNESS WHEREOF, the Agency and the Developer have signed this Agreement on the respective dates set forth below. 1999 ATTEST: SAUNDRA L. JUHOLA, Secretary APPROVED AS TO FORM: DAWN C. HONEYWELL, Agency Counsel LA QUINTA REDEVELOPMENT AGENCY Bv: RON PERKINS, Chairman A.G. SPANOS CORPORATION _, 1999 By: Its: t; ) 4 laquiniaApanos\csdne,aemt 9 Fi rst Laic 41A/i 9 1 (._ Ti'T 4 ZP Q" COUNCIL/RDA MEETING DATE: April 20, 1999 ITEM TITLE: Transmittal of Revenue and Expenditure Reports dated February 28, 1999 and Quarterly Investment Summary dated March 31, 1999 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of the February 28, 1999 Statement of Revenue and Expenditures for the La Quinta Redevelopment Agency. I certify that the Quarterly Investment Summary accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City investment policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. The City of La Quinta used the Bureau of the Public Dept, U.S. Bank Monthly Statement and Bank of New York Monthly Custodjan Report to determine the fair market value of investments at month end. M. Falconer, Finance Director Attachments: 1 . Revenue and Expenditures Report, February 28, 1999 2. Quarterly Investment Summary, March 31, 1999 LJJ ATTACHMENT NO. 1 LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA _NO. 1: DEBT SERVICE FUND: Tax Increment Allocated Interest Non Allocated Interest Interest Advance Proceeds Transfers In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND:' Pooled Cash Allocated Interest Non Allocated Interest Litigation Settlement Revenue Loan Proceeds Transfers In TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: Tax Increment Allocated Interest Non Allocated Interest LQRP-Rent Revenue Home Sales Proceeds Sewer Subsidy Reimbursements Transfer In TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND: Allocated Interest Non Allocated Interest Transfer In TOTAL LOW/MOD BOND 07/01/1998-02/28/1999 REMAININU 0 BUDGET RECEIVED BUDGET RECEIVED 9,969,108.00 5,251,637.43 4,717,470.57 52.68% 0.00 13,135.32 (13,135.32) N/A 0.00 135,950.00 (135,950,00) N/A 371,521.00 257,668.22 113,852.78 69.35% 1,738,801.00 1,099,888.00 638,913.00 63.26% 12 079, 330.00 6758 278.97 5,321 151.03 _ _ 55_95% 0.00 19,265.27 (19,265.27) N/A 186,800.00 133,940.48 52,859.52 71.70% 0.00 821,589.19 (821,589.19) N/A 0.00 0.00 0.00 N/A 511,509.90 0.00 511,509.00 N/A 698 309.00 974 794.94__--C276 485.94)___ _139.559% 2,492,277.00 1,312,909.36 1,179,367.64 52,68% 247,500.00 75,930.07 171,569.93 30.68% 0.00 0.00 0.00 N/A 341,000.00 275,292.72 65,707.28 80.73% 150,000.00 195,945.10 (45,945.10) 130.63% 0.00 8,617.25 (8,617.25) N/A 0.00 0.00 0.00 N/A 3,230 777.00 1 868 694.50 --- _ 1 362,082.50_ 57.84% 0.00 0.00 0.00 N/A 135,000.00 209,681.44 (74,681.44) 155.32% 0.00 0.00 0.00 N/A 135 000,00 209 681.44 _ -(74&81.44)-___ 155.32% 001 . LA QUINTA REDEVELOPMENT AGENCY 07/01/1998 - 02/28/1999 REMAINING % EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED PROJECT AREA NO. 1: DEBT SERVICE FUND: SERVICES 212,000.00 186,538.50 0.00 25,461.50 87.99% BOND PRINCIPAL 2,090,852.00 2,091,490.00 0.00 (638,00) 100.03% BOND INTEREST 3,202,233.00 1,514,774.73 0.00 1,687,458.27 47.30% INTEREST CITY ADVANCE 371,521.00 257,668.22 0.00 113,852.78 69.35% PASS THROUGH PAYMENTS 5,831,693.00 3,226,834.76 0.00 2,604,858.24 55.33% TRANSFERS OUT 511,509.00 0.00 0.00 511,509.00 N/A TOTAL DEBT SERVICE 12,219,808.00 _ 7,277,306.21 0.00 4,942,501.79_ _59.55% CAPITAL IMPROVEMENT FUND: PERSONNEL 8,100.00 4,095.12 0.00 4,004.88 50.56% SERVICES 2,270,147.00 112,475.81 0.00 2,157,671.19 4.95% REIMBURSEMENT TO GEN FUND 190,669.00 127,112.72 0.00 63,556.28 66.67% TRANSFERS OUT 3,356,747.00 (84,442.67) 0.00 3,441,189.67 -2.52% TOTAL CAPITAL IMPROVEMENT 5,825,663.00 159,240.98 0.00 5,666,422.02 2.73% LOW/MODERATE TAX FUND: PERSONNEL 2,650.00 1,311.22 0.00 1,338.78 49.48% SERVICES 1,863,960.00 1,234,291.41 0.00 629,668.59 66.22% REIMBURSEMENT TO GEN FUND 694,039.00 462,692.64 0.00 231,346.36 66.67% TRANSFERS OUT 1,738,801.00 1,099,888.00 0.00 638,913.00 63.26% TOTAL LOW/MOD TAX 4,299 450.00 2,798,183.27 0.00 1,501,266.73 65.08% LOW/MODERATE BOND FUND PERSONNEL 5,800.00 2,785.36 0.00 3,014.64 48.02% SERVICES 53,528.00 23,359.43 0.00 30,168.57 43.64% REIMBURSEMENT TO GEN FUND 0.00 0.00 0.00 0.00 N/A HOUSING PROJECTS 0.00 0.00 0.00 0.00 N/A TRANSFERS OUT 5,623,442.00 785,429.59 0.00 4,838,012.41 13.97% TOTAL LOW/MOD BOND 5,682,770.00 811,574.38 _ 0.00 4,871,195.62 14.28% 00 LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT-AREAM QL2: 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 Developer Agreement Transfers In Proceeds from City Loan TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: Tax Increment Developer funding Allocated Interest Transfer in TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND: Allocated Interest Non Allocated Interest Transfer in TOTAL LOW/MOD BOND 07/01/1998-02/28/1999 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 3,747,891.00 2,191,376.33 1,556,514.67 58.47% 0.00 45,966.42 (45,966.42) N/A 0.00 4,389.26 (4,389.26) N/A 461,880.00 330,785.16 131,094.84 71.62% 338,674.00 202,749.00 135,925.00 59.87% 4.548 445_00 2,775 266.17 1,773 178.83 - _- 61.02%0 20,000.00 40,533.05 (20,533.05) 202.67% 10,000.00 (123,413.44) 133,413.44 -1234.13% 0.00 5,000.00 (5,000.00) N/A 742,609.00 0.00 742,609.00 N/A 0.00 0.00 0.00 N/A 772 609. 00 _ (77 880.39) 85 4489.39-11.0.08%0 936,973.00 547,844.09 389,128.91 58.47% 0.00 622,304.55 (622,304.55) N/A 20,000.00 54,149.09 (34,149.09) 270.75% 0_00 0.00 0.00 N/A 956,973.00 1,224,297. 33 �267 324 73) 127.93% 0.00 0.00 0.00 N/A 20,000.00 56,005.22 (36,005.22) 280.03% 0.00 0.00 0.00 N/A 20,000.00 56 005.22 ___ (36,005.22) 280.03% C.)�j LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 2: DEBT SERVICE FUND: SERVICES BOND PRINCIPAL BOND INTEREST INTEREST CITY ADVANCE PASS THROUGH PAYMENTS TRANSFERS OUT TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: PERSONNEL SERVICES ECONOMIC DEVELOPMENT ACTIVITY REIMBURSEMENT TO GEN FUND TRANSFERS OUT TOTAL CAPITAL IMPROVEMENT LOW/MODERATE TAX FUND: PERSONNEL SERVICES REIMBURSEMENT TO GEN FUND TRANSFERS OUT TOTAL LOW/MOD TAX LOW/MODERATE BOND FUND PERSONNEL SERVICES REIMBURSEMENT TO GEN FUND TRANSFERS OUT TOTAL LOW/MOD BOND 07/01/1998 - 02/28/1999 REMAINING % BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED 68,350.00 68,483.20 0.00 (133.20) 100.19 % 69,148.00 68,510.00 0.00 638.00 99.08% 526,033.00 219,740.91 0.00 306,292.09 41.77% 1,461,880.00 1,330,785.16 0.00 131,094.84 91.03% 2,844,245.00 1,422,122.50 0.00 1,422,122.50 50.00% 742,609.00 0.00 0.00 742,609.00 N/A 5,712,265.00 3,109,641.77 0.00 2,602,623.23 54.44% 4,100.00 2,048.10 0.00 2,051.90 49.95% 125,498.00 105,691.69 0.00 19,806.31 84.22% 100,000.00 0.00 0.00 100,000.00 0.00% 175,292.00 116,861.36 0.00 58,430.64 66.67% 2,326,628.00 263,951.69 0.00 2,062,676.31 11.34% 2,731,518.00 488552.84 _ 0.00 2,242,965.1.6 17.89% 1,950.00 839.24 0.00 1,110.76 43.04% 398,563.00 95,566.36 0.00 302,996.64 23.98% 337,863.00 225,241.92 0.00 112,621.08 66.67% 1,480,886.00 202,749.00 0.00 1,278,137.00 2,219,262.00 5296.52 4 3 0.00 1,694,_865.48 _13.69% 23.63% 2,650.00 1,207.94 0.00 1,442.06 45.58% 40,423.00 33,367.04 0.00 7,055.96 82.54% 0.00 0.00 0.00 0.00 N/A 2,990,542.00 443,799.45 0.00 2,546,742.56 14.84% 3,033,615.00 478,374.43 0.00 2,555,240.57 15.77% 6) J j opt City of La Quinta Quarterly Investment Summary March 31, 1999 Redevelopment Agency Maturity Issuer of Investment Investment Type Date U.S. Treasury Treasury Note 31-Oct-99 U.S. Treasury Treasury Note 30-Apr-99 U.S. Treasury Treasury Note 30-Sep-99 U.S. Bank - 1994 Money Market Mutual Fund Next Day U.S. Bank - 1995 Money Market Mutual Fund Next Day U.S. Bank - 1998 RDA 1 Money Market Mutual Fund Next Day U.S Bank - 1998 RDA 2 Money Market Mutual Fund Next Day Subtotal Plus % Attributable to RDA from City Pooled Investments Total RDA Investments Footnote 1 - The Quarterly Investment Report does not include the City of La Quinta checking account, sweep account , Housing Program account or petty cash account ATTACHMENT NO. 2 Par Value Market Value Amortized Cost 3,000,000 3,045,930 3,046,172 3,000,000 3,004,680 3,004,517 5,000,000 5,025,000 5,027,494 641 641 641 1,022,865 1,022,865 1,022,865 2,426,255 2,426,255 2,426,255 597,071 597,071 597,071 $15,046,832 $15,122,442 $15,125,015 8,180, 922 $23,305,937 Tit�/ 4 Qgurlry AGENDA CATEGORY: BUSINESS SESSION: ING DATE: April 20, 1999 CONSENT CALENDAR: Public Hearing of the City Council STUDY SESSION: it Agency regarding a Right -of- r rom the La Quinta Redevelopment PUBLIC HEARING: 'ity of La Quinta to Facilitate Nashington Street, Miles Avenue iington Street/Miles Avenue )N: t-of-way conveyance from the La Quinta Redevelopment Agency Quinta to facilitate improvements to Washington Street, Miles Vashington Street/Miles Avenue intersection. )RMATION, PLEASE REFER TO PUBLIC HEARING ITEM NO. 3 ON IL AGENDA. ;tor/City Engineer U +�u' _