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1999 07 20 RDARedevelopment Agency Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting July 20, 1999 - 2:00 P.M. CALL TO ORDER a. Roll Call PUBLIC COMMENT Beginning Res. No. RA 99-04 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. 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 June 22, June 29 & July 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 JULY 20, 1999. 2. TRANSMITTAL OF TREASURER'S REPORT DATED MAY 31, 1999. 3. ADOPTION OF RESOLUTION APPROVING COMPENSATION FOR REDEVELOPMENT AGENCY BOARD MEMBERS AND AUTHORIZING THE PAYMENT OF EXPENSES. BUSINESS SESSION 1 . CONSIDERATION OF ADOPTING THE FISCAL YEAR 1999-2000 BUDGET. A) RESOLUTION ACTION. 2. CONSIDERATION OF A REQUEST FROM BUILDING HORIZONS FOR ADDITIONAL FUNDS TO PAY DOWN THE MORTGAGE ON THEIR THIRD HOUSE LOCATED AT 52-100 AVENIDA VELASCO. A) MINUTE ORDER ACTION. STUDY SESSION - None Page 2 DEPARTMENT REPORTS TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED MAY 31, 1999. CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS JOINT PUBLIC HEARING WITH THE CITY OF LA QUINTA. FIVE YEAR IMPLEMENTATION PLAN FOR THE LA QUINTA REDEVELOPMENT PROJECT AREAS NO. 1 AND 2. A) RESOLUTION ACTION. ADJOURNMENT 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 July 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, July 16, 1999. C;SAUNDRA e : July 16, 1999 1 L. JUH LA, Secretary a 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 kiO3 T4ht 4 4a Q" COUNCIL/RDA MEETING DATE: JULY 20, 1999 ITEM TITLE: Demand Register Dated July 20, 1999 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: RECOMMENDATION: Approve Demand Register Dated Dated July 20, 1999 BACKGROUND: Prepaid Warrants: 37600 - 37619 899, 706.46 37620 - 37641 7,220.49 37642 - 67644 78,613.28 37645 560.00 37646 4,661 .18 37647 5,025.00 37648 - 37652 1,106.50 37653 - 37654 31,215.43 37655 - 37656 1,170.12 Auto Mall 1005 1,1 52.00 Wire Transfers 105,455.03 P/R 3271 - 3343 105,298.16 P/R 3344 - 3348 5,094.87 P/R 3349 - 3419 83,685.48 P/R Tax Transfers 55,895.54 City Demands $1,81 5,1 70.53 Payable Warrants: 37657 - 37685 (99/00) 33,391.69 RDA Demands 34478 - 34627 (98/99) 422,191 .94 1,841,443.1 7 FISCAL IMPLICATIONS: Demand of Cash - RDA 26,272.64 26,272.64 $1,841,443.17 V 'Y John M. Falconer, Finance Director CITY OF LA QUINTA AUTO MALL BANK ACCOUNT TRANSACTIONS 06/24/1999 - 07/14/1999 CHECK # 07/09/1999 1005 NICKERSON, DIERCKS & ASSOCIATES 1,152.00 TOTAL 1,152.00 CITY OF LA QUINTA BANK TRANSACTIONS 06/24/1999 - 07/14/1999 06/24/1999 WIRE TRANSFER - DEFERRED COMP 06/24/1999 WIRE TRANSFER - CREDIT UNION 07/01/1999 WIRE TRANSFER - PERS 07/09/1999 WIRE TRANSFER - DEFERRED COMP 07/09/1999 WIRE TRANSFER - CREDIT UNION 07/12/1999 WIRE TRANSFER - FORESITE ESCROW TOTAL 5,538.49 6,120.74 16,129.57 5,248.49 6,117.74 66, 300.00 105,455.03 uu 04 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER a 3:51PM 07/13i99 CITY OF LA QUINTA BANK ID: DEF sa�\�\ PAGE l CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 37686 07/20/99 &00826 EVE ANGUS 20.00 37687 07/20/99 &00827 WILLIAM F. BOYD 300.00 37688 07/20/99 &00828 CANADAY & COMPANY 993.15 37689 07/20/99 &00829 JAMES W. CORNETT 800.00 37690 07/20/99 &00830 JACKIE COTHRAN 46.00 37691 07/20/99 &00831 A. DIAZ GARDENING SVC 3.00 37692 07/20/99 &00832 BETTY GREGORY 3.00 37693 07/20/99 &00833 HARRISON ENTERPRISES, INC 140.00 37694 07/20/99 &00834 LEE MILLER 26.00 37695 07/20/99 &00835 JEANNINE RUSSELL 15.00 37696 07/20/99 &00836 CYNTHIA B. SJOQUIST 8.00 37697 07/20/99 &00837 MARY SPIES 80.00 37698 07/20/99 &00838 R.H. TERRY 10.00 37699 07/20/99 &00839 WAL-MART PHARMACY 300.00 37700 07/20/99 &00840 LENORA WATSON 45.00 37701 ** AP CHECK RUN VOID ** 37702 07/20/99 ACEOlo ACE HARDWARE 878.59 37703 07/20/99 ALL100 ALLIANCE SERVICE STATION 97.10 37704 07/20/99 AL0100 JEAN PIERRE ALOTTE 20.00 37705 07/20/99 Aiv=00 AMERIPRIDE UNIFORM SVCS 95.56 37706 07/20/99 ARC050 ARCHAEOLOGICAL ADVISORY 1400.00 37707 07/20/99 ASCO01 A & S COFFEE SERVICE 306.00 37708 07/20/99 ATT100 AT&T WIRELESS SVC 772.51 37709 07/20/99 AUS100 DONNA AUSTIN 40.00 37710 07/20/99 BEN040 BENLO R V II 51.61 37711 07/20/99 BEN060 MATTHEW BENDER & CO, INC 256.70 37712 07/20/99 BER007 JEFF BERLINGERS MOBILE 32.00 37713 07/20/99 BER150 BERRYMAN & HENIGAR INC 4360.00 37714 07/20/99 BIG010 BIG A AUTO PARTS 157.54 37715 07/20/99 BOU050 FRED BOUMA 66.82 37716 07/20/99 BRIl00 BRINKS INC 265.00 37717 07/20/99 CAD010 CADET UNIFORM SUPPLY 243.98 37718 07/20/99 CAT100 CATELLUS RESIDENTIAL 161503.94 37719 07/20/99 CHE100 BETTE CHENEY 46.00 37720 07/20/99 COA023 COACHELLA VLLY ENGINEERS 1500.00 37721 07/20/99 COA085 COACHELLA VALLEY WATER 168.89 37722 07/20/99 COM015 COMPUTER U LEARNING CENTR 1275.00 37723 07/20/99 COM020 COMPUTER PROTECTION TECH 2832.50 37724 07/20/99 COM040 COMMERCIAL LIGHTING IND 4r4.07 37725 07/20/99 C00050 J P COOKE CO, THE "J8.78 37726 07/20/99 COR020 ESEQUIEL CORONEL 2598.25 37727 07/20/99 COS050 COSTCO BUSINESS DELIVERY 316.04 37728 07/20/99 COS060 COSTCO WHOLESALE STORE 197.66 37729 07/20/99 DAR100 DARTNELL CORPORATION 37.90 37730 07/20/99 DES060 DESERT SUN PUBLISHING CO 6711.52 37731 07/20/99 DES065 DESERT TEMPS INC 4715.80 37732 07/20/99 DIE020 D HERNANDEZ DBA DIEGO'S 800.00 00! 05- ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME 37733 07/20/99 DMG100 DMG MAXIMUS 37734 07/20/99 DOU010 DOUBLE PRINTS I HR PHOTO 37735 07/20/99 DRE100 DRESCO REPRODUCTION INC 37736 07/20/99 EAG100 EAGLE/HOUSEHOLD BANK FSB 37737 07/20/99 EQUO10 DALE EQUITZ 37738 07/20/99 EVA100 GUY EVANS 37739 07/20/99 FAH100 LORI FAHNESTOCK 37740 07/20/99 FED010 FEDERAL EXPRESS CORP 37741 07/20/99 FRE100 JOHN FREELAND 37742 07/20/99 GE0010 GEORGE'S GOODYEAR 37743 07/20/99 GTE010 GTE CALIFORNIA 37744 07/20/99 GTE020 GTE TELEPHONE OPERATIONS 37745 07/20/99 GUM050 BRAD GUMMER 37746 07/20/99 HEGO50 JIM HEGGE 37747 07/20/99 HEN050 TERRY HENDERSON 37748 07/20/99 HER050 RACHEL HERMANSON 37749 07/20/99 HIG010 HIGH TECH IRRIGATION INC 37750 07/20/99 HIT001 HITT MARKING DEVICES, INC 37751 07/20/99 HOA010 HUGH HOARD INC 37752 07/20/99 HOM030 HOME DEPOT 37753 ** AP CHECK RUN VOID ** 37754 07/20/99 HON050 DAWN C HONEYWELL 37755 07/20/99 H00050 FAYE HOOPER 37756 07/20/99 HOP100 NANCY HOPKINS 37757 07/20/99 ICB010 ICBO 37758 07/20/99 IMPO10 IMPERIAL IRRIGATION DIST 37759 07/20/99 IMP150 IMPERIAL SIGN CO INC 37760 07/20/99 IND030 INDIO SHOE STORE INC 37761 07/20/99 JAS100 JAS PACIFIC 37762 07/20/99 JPRO10 JP REPROGRAPHICS 37763 07/20/99 KEL010 KELLY SERVICES INC 37764 07/20/99 KIN050 KINKO'S 37765 07/20/99 KIN100 KINER/GOODSELL ADVERTISNG 37766 07/20/99 KRI100 BRUCE KRIBBS CONSTRUCTION 37767 07/20/99 KUN100 MARNI KUNSMAN 37768 07/20/99 KUS050 KUSTOM SIGNALS INC 37769 07/20/99 LAQ065 LA QUINTA HISTORICAL SOC 37770 07/20/99 LAQ100 LA QUINTA VOLUNTEER FIRE 37771 07/20/99 LOS050 LOS ANGELES TIMES 37772 07/20/99 LUC050 LUCENT TECHNOLOGIES 37773 07/20/99 LUN050 LUNDEEN PACIFIC CORP 37774 07/20/99 MAR010 MARTIN & CHAPMAN CO 37775 07/20/99 MAZ050 MAZDA SUPERSTORE 37776 07/20/99 MCK010 McKESSON WATER PRODUCTS 37777 07/20/99 MUN010 MUNI FINANCIAL SERV INC 37778 07/20/99 NAT030 NAIL RECREATION & PARK 37779 07/20/99 NAW010 RON NAWROCKI 37780 07/20/99 NEW200 NEW & RECYCLED PROMITIONS 37781 07/20/99 PCM050 PC MAGAZINE 3:51PM 07/13/99 PAGE 2 PAYMENT AMOUNT 4323.69 14.34 90.49 3477.98 45.00 3115.00 90.00 1327.75 48.00 74.15 3366.62 513.61 850.50 2010.00 1030.00 735.00 143.43 668.32 14233.09 772.01 14347.00 75.00 231.00 795.20 697.23 260.00 188.50 517.00 4223.72 3078.71 213.35 915.88 4620.00 44.00 4152.60 131.00 327.50 49.68 1681.45 34653.87 389. 67 535.74 543.20 2871.98 370.00 1000.00 269.01 29. 97 608 06 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 3:51PM 07/13/99 CITY OF LA QUINTA BANK ID: DEF PAGE 3 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT 37782 07/20/99 2CR100 PC 19752.00 37783 07/20/99 PEN010 JOHN PENA 575.00 37784 07/20/99 PIT015 PITNEY BOWES 616.10 37785 07/20/99 PRI070 PRINTING SOLUTIONS 589.05 37786 07/20/99 PRY100 PRYOR RESOURCES INC 208.77 37787 07/20/99 RAH050 RICH RAHN 252.00 37788 07/20/99 RAS020 RASA - ERIC NELSON 2090.00 37789 07/20/99 RECO20 RECY-CAL SUPPLY CO 244.94 37790 07/20/99 RIV100 RIVERSIDE COUNTY SHERIFFS 3643.20 37791 07/20/99 RJT010 RJT HOMES, LLC 10438.60 37792 07/20/99 ROS010 ROSENOW SPEVACEK GROUP 26752.74 37793 ** AP CHECK RUN VOID ** 37794 07/20/99 RUT050 RUTAN & TUCKER 9456.84 37795 07/20/99 SAX100 SAXON ENGINEERING SERVICE 12740.00 37796 07/20/99 SECO50 SECURITY LINK/AMERITECH 341.91 37797 07/20/99 SHAO10 SHADOW PALMS GARDENING 150.00 37798 07/20/99 SMA010 SMART & FINAL 264.68 37799 07/20/99 SMI010 MARILYN SMITH 53.95 37800 07/20/99 SM0010 DONNALDA SMOLENS 125.00 37801 07/20/99 SOCO10 THE SOCO GROUP INC 84.78 37802 ** AP CHECK RUN VOID ** 37803 07/20/99 SOU007 SOUTHWEST NETWORKS, INC 5984.94 37804 07/20/99 SOU010 SOUTHERN CALIF GAS CO 231.27 37805 07/20/99 SPIO10 CRISTAL SPIDELL 33.28 37806 07/20/99 SPRO10 SPRINT 939.64 37807 07/20/99 STA020 STANDARD REGISTER 235.60 37808 07/20/99 STA045 STAN'S AUTO TECH 336.10 37809 07/20/99 STA050 STAPLES 148.61 37810 07/20/99 SUN075 SUNLINE TRANSIT AGENCY 332.00 37811 07/20/99 SZE100 SHARON SZESNY 542.50 37812 07/20/99 TEL050 TELECOM DISTRIBUTION SVC 387.57 37813 07/20/99 TER020 TERA-STORAGE SOLUTIONS IN 290.00 37814 07/20/99 TOP010 TOPS'N BARRICADES INC 127.86 37815 07/20/99 TRA020 TRANSAMERICA 140.75 37816 07/20/99 TRU010 TRULY NOLEN INC 161.00 37817 07/20/99 TTI100 TTI NATIONAL INC 7.96 37818 07/20/99 ULT100 ULTIMATE INTERNET ACC INC 40.00 37819 07/20/99 UND010 UNDERGROUND SERVICE ALERT 403.75 37820 07/20/99 USO100 US OFFICE PRODUCTS 300.92 37821 07/20/99 VER010 ROMANO VERLENGIA 38.02 37822 07/20/99 VID050 VIDEO DEPOT 15.00 37823 07/20/99 VIK010 VIKING OFFICE PRODUCTS 128.68 37824 07/20/99 VON010 VON'S C/O SAFEWAY INC 179.67 37825 07/20/99 WAL010 WAL MART STORES INC 162.65 37826 07/20/99 WAR060 WARNER ENGINEERING 4818.32 37827 07/20/99 WEL100 PATRICK WELCH 6.40 37828 07/20/99 WES020 WEST GROUP 98.32 37829 07/20/99 WHE050 WHEELER'S 105.00 37830 07/20/99 WIL010 WILLDAN ASSOCIATED 982.57 ouj 07 ACCOUNTS PAYABLE - AP5005 CITY OF LA QUINTA CHECK CHECK NUMBER DATE 37831 07/20/99 37832 07/20/99 37833 07/20/99 CHECK REGISTER BANK ID: DEF VENDOR NO. NAME XER010 XEROX CORPORATION YOU100 YOUNG ENGINEERING SERVICE ZUR050 ZUMAR INDUSTRIES ING CHECK TOTAL 3:51PM 07/13/99 PAGE 4 PAYMENT AMOUNT 1394.70 4900.00 1149.15 422,191.94 J i V 08 • N - ul to r m O� ti � M ul m E-E Z Q> Q1 M \ x r U �Il ul �n �Il ul to � �fl lD l0 D O W E N N N N N N N N N N N N U' < lD lD tD \D lD lD lD lD ID lD lD l0 E cc E H E F E F E E-F F E F F+ a P. J) •• O O �n O O O O O O O O C M H O O .-i O O O O O O O O O Z W E Z O O M O m M O o E O N O 61 O O M Cl) m E W r,C C O Ln O O O o cD 0 C 0 O o o O O O o 0 0 0 C O M O M M O lQ m N O M Q m a G a a ,� a � a E a a s a o a •o a < <w a E t a E K a c a c a z F F CL E E+ O7 E F C F a F O O C O E O O O U O v O u O O w O w O W H E E E - E F > E > E+ > E F N E1 N E+ > cc O O O >4 H P. 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J G O 7 cn tr' U W w O W a m C J I J W r m O M Z Z £ H ❑ ry rn a' I m � Z �o m rn m ❑ o ;n rn H W a � W W m a I o o W H Z v) v) r rn W o o v v m o rn rn uD M Z o 0 0 0 H O r1 r? M Q U v 0 CD C) rC o 0 0 W U H J a W C� U] Z M N o z z c o o z m a F F x < a w a O o Z m s a o W F a a 9 ❑ a z o o z z G � a x x c� a < a O c a < O x rY. z a ❑ w W c o v ` x x N H w Z O J o 0 0 0 o CD C a C) O �+ o o o U F, fi Ll' ❑ U: N < U x x 28 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER ,ti 8:lOPM 07/10/99 CITY OF LA QUINTA BANK ID: DEF !-j``'1`�� `rV PAGE 1 CHECK NUMBER CHECK DATE VENDOR NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** PAYMENT AMOUNT 37657 07/20/99 ALL100 ALLIANCE SERVICE STATION 85.38 376"58 07/20/99 AME200 AMERIPRIDE UNIFORM SVCS 53.35 37659 07/20/99 ANI030 ANIMAL EMERGENCY CLINIC 202.50 37660 07/20/99 AUT030 AUTOMATED TELECOM 216.37 37661 07/20/99 BER007 JEFF BERLINGERS MOBILE 60.00 37662 07/20/99 BIG010 BIG A AUTO PARTS 64.64 37663 07/20/99 BLA060 JAN BLAKELY 50.00 37664 07/20/99 CAD010 CADET UNIFORM SUPPLY 369.63 37665 07/20/99 CVA010 C V A G 19344.00 37666 07/20/99 EAC100 EAGLE/HOUSEHOLD BANK FSB 349.01 37667 07/20/99 HUL010 KATHRYN HULL 50.00 37668 07/20/99 JAS100 JAS PACIFIC 537.50 37669 07/20/99 KUS050 KUSTOM SIGNALS INC 15.00 37670 07/20/99 MCDO10 MC DOWELL AWARDS 107.75 37671 07/20/99 MCM210 LESLIE MCMILLAN 50.00 37672 07/20/99 NIC100 NICKERSON, DIERCKS & ASSC 4320.00 37673 07/20/99 OLI100 OLINN MESSAGE CENTER 81.44 37674 07/20/99 OUT100 OUTDOOR SERVICES INC 100.00 37675 07/20/99 PAG100 PAGING NETWORK SAN DIEGO 32.13 37676 07/20/99 RAS060 JACKIE RASMUSSEN 50.00 37677 07/20/99 SCE100 SCESA 325.00 37678 07/20/99 SHA040 ROSITA SHAMIS 50.00 37679 07/20/99 STA020 STANDARD REGISTER 3100.00 37680 07/20/99 STA045 STAN'S AUTO TECH 263.57 37681 07/20/99 TRU010 TRULY NOLEN INC 63.00 37682 07/20/99 UNIO04 UNITED STATES POSTAL SVC 3000.00 37683 07/20/99 USO100 US OFFICE PRODUCTS 67.48 37684 07/20/99 WHI010 WHITE'S STEEL 150.00 37685 07/20/99 WIN010 WINSTON TIRES 233.94 CHECK TOTAL 33,391.69 03A 29 M O N M m v' O a rl rl ti .-� rl N G' O F Z S. 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Ci34 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.*** 37655 07/09/99 &00825 SPECIAL MARKETS 37656 07/09/99 BAN020 BANG & BASH 11:10AM 07/09/99 PAGE 1 PAYMENT AMOUNT 418.50 751.62 CHECK TOTAL 1,170.12 635 32 • rl N Z Ql O r O W U El W W < E+ H w m 0 p N N z m 5 r O a r a O N � LD � a r El r HF r, H z W x W i rn W a H a r Hoo P W U H zH Z F W H O W O ✓ Z U O O ❑ z W H ❑ z n W N W J W W J -n ❑ ❑ v� W O ❑ w w CJ w � ❑ a a w O Z W r W H ❑ z El H u ¢ z m w A 0 o0 w H p4 0 0 w � o o 0 0 5 z O r vi � El O 0 N 1 U U r� O 0 O O O El El W x d N z a t o w m ' z In w � O >+ N N m O U H U O 3� 34 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.*** 37653 07/09/99 NAT250 NATURE CONSERVANCY 37654 07/09/99 SES050 SES COMPUTERS CHECK TOTAL 09:55AM 07/09/99 PAGE 1 PAYMENT AMOUNT 29664.00 1551.43 31,215.43 • . O N rn rn rn O \ .1 r U C O W F � H H a vi v o � O z z � rn (� N O o -r 0 rn rn rn N Z 5 r� m El w a o a ❑ a � � a w w V W o w z � z ❑ a `¢ w w w a 0 o w H a o N w m o o m � o y z o p o 0 � o � U O zUz w a � w El w F - `o a u � w U a FC a O H rn a n ❑ z a z w v) 7 � � V H U H RG Vl w S G33 36 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER � 12:35PM 07/08/99 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.*** 37648 07/08/99 CAL050 STATE OF CALIFORNIA 25.00 37649 07/08/99 LAQ050 LA QUINTA CITY EMPLOYEES 351.00 37650 07/08/99 RIV040 RIV CNTY DISTRICT ATTORNY 426.50 37651 07/08/99 SUP100 SUPPORT PAYMENT CLEARING- 150.00 37652 07/08/99 UNIO05 UNITED WAY OF THE DESERT 154.00 CHECK TOTAL 1,106.50 �7 G33 .� N r•1 d �f1 p�� E� Z rn rn O H CJ O! O! Ol rn rn O W H O! o' O1 rn rn q d H H H H H a r a N O O O O O N H O O V O O H .. El O 1 t'1 � H H cyQ a W O O O O O O O O O 'o a o N p N 7 if) ifl J iy U H W CD El El iD W Y ) �; � 0 �' o o � Q 0 N ) 0 op o a .�i H u ❑ z ❑ z Q z p z ❑ z i w a a 7 a fZ a 0 w a w w a w u w w ❑ a Opq w z z H Q H H z z a a .c w w w a o o w H a, o 0 0 0 0 w o 0 0 0 0 CQ o 0 0 0 0 Z N N N N N N N N N N O O O O O a O O O O O O O O O O O U H + N w Z a >+ pQ H H Z W V w ¢ 0 C ❑ o H z pa F ] u w o a w H H in O H H [+ N W w H Ul i O U H N w a H O z z a ❑ o, w a u 0 w a a < 47 o < H a z U) zz a a UJ 5 p> o 0 0 0 n O O Q p O O O 0 H a H U RC U ¢ U ,-7 Q z O ID O a a Eoo+ H z r P4 a 38 04 0 ACCOUNTS CITY OF PAYABLE - AP5005 LA QUINTA CHECK REGISTER BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 37647 07/07/99 MIR010 MIRASOFT INC CHECK TOTAL 11:09AM 07/07/99 PAGE 1 PAYMENT AMOUNT 5025.00 5,025.00 3 9 F 7- El W W F F El F m w 0 0 0 0 0 0 El o 0 0 0 0 z F r�.. z In o 0 0 In i, n N In In o N a a qO Z 0 0 0 0 O O O O O O O O e-1 1 - I I w m S C,42 4� 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.*** 37646 07/07/99 &00824 POLICE SUPPLY STOR /DCG CHECK TOTAL 10:07AM 07/07/99 PAGE 1 PAYMENT AMOUNT 4661.18 4,661.18 643 41 o1 H z rn rn r 0 o w H W w � H a N O m �+ z H yy 7 ID a m a o+ w w as z w H W O a O U a x ti n O (] z u z m w w w > ❑ a m a W w V W rz o > w w z z � z ❑ FC a x w w w a o o w H a w o o Gq 0 o � z m F z 0 o O u U t� 0 O H C7 U ❑ W O O o � r a a. w F a a z m w u r a w c a o a a ❑ o rn a z O [z > ti 7 N O U H m O U H 2 U O w 1. 4 -1 2 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.*** 37645 07/02/99 LEA015 LEAGUE OF CALIF CITIES CHECK TOTAL 12:22PM 07/02/99 PAGE 1 PAYMENT AMOUNT 560.00 560.00 4 C4-) W O i El o H z U m z EH In z U z z o ¢ �a a � z U O z w w z m 0 0 z w J z 0 H w H m U w ca Wa a O 0 O O 0 H U4o 44 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.*** 37642 07/01/99 HOM031 HOME DEPOT 37643 07/01/99 MMA050 MMASC 37644 07/01/99 SOU002 SOUL OF CHINA CHECK TOTAL 2:34PM 07/01/99 PAGE 1 PAYMENT AMOUNT 77715.36 690.00 207.92 78,613.28 r 5 U m �43 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 2:49PM 06/25/99 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 37620 06/25/99 &00823 FRANK HUNT 40.00 37621 06/25/99 ABE001 JAQUES ABELS 150.00 37622 06/25/99 BOB100 BILL BOBBITT 50.00 37623 06/25/99 BUT010 RICHARD BUTLER 150.00 37624 06/25/99 CAN050 CANADA LIFE ASSURANCE CO 516.93 37625 06/25/99 CUN100 DENNIS CUNNINGHAM 50.00 37626 06/25/99 ECO010 ECONO SEWER SERVICES 3950.00 37627 06/25/99 IRWO10 JOSEPH IRWIN 50.00 37628 06/25/99 IRWO20 BARBARA IRWIN 50.00 37629 06/25/99 KIR010 TOM KIRK 150.00 37630 06/25/99 LEW010 TOM LEWIS 50.00 37631 06/25/99 MAH100 CYRILLE P MAHFOUD 50.00 37632 06/25/99 MIT150 MICHAEL MITCHELL 50.00 37633 06/25/99 MOU100 DONALD J MOULIN 50.00 37634 06/25/99 OSBO50 LEE M OSBORNE CPA 50.00 37635 06/25/99 PUE050 MARIA L PUENTE 50.00 37636 06/25/99 ROB150 STEVE ROBBINS 75.00 37637 06/25/99 TRA030 TRANSAMERICA INSURANCE 53.48 37638 06/25/99 TYL050 ROBERT T TYLER 150.00 37639 06/25/99 UNU050 UNUM LIFE INS 1385.08 37640 06/25/99 VOS050 JUDY VOSSLER 50.00 37641 06/25/99 WRI050 ROBERT S WRIGHT 50.00 CHECK TOTAL 7,220.49 HE m V d' O a, N lD O `w U 2 C7 W C7 W U' W H C7 W F C7 W H O W H C'! W E U' W H C7 W F U' W H C7 H C7 F U' H U' F H a N C, 0 O 0 p 0 O 0 p r1 O� 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O [a7 F O O O O iO CD O 01 O O O O O CD O W O O O O O O O O m O O 0 O O O O w O H � w R7 0 a z m ❑ w 1C1�4 ❑ a O z El z C7 Q rzz-+ > fz W O El Qx ❑7 > a, 4 U ❑ �u N u O ,fl z El El 8 0 x cD W❑ I-/ > a O x W❑ > hZ m r, w a ,D El a W❑ > O ❑ C) E cx.7 O r-1 m 0 x m ❑1 O > 3 o m 0 v O 3 O m 00 m O 3 O N m a m O 3 .� m °a m O 3 O I Q m 0 r'1 R7 � 0 El a w ❑7 > �(1 z O H F� w co El 04 x H ❑ aoo; H E o ❑1 z 1 O CA � o El El z o W w U W O i p � J ~ G W m m m 2 m m m m m p m m O N O N O N O N O N m m m m m m m m x a z P� FC a W R 0 O O W F w p] ID O 0 O O p 0 O O O O O O 0 0 O O 0 O O 0 O O 0 O O O O O O O O O O O O O O O O O 0 O O c -1' m O u1 m O to m 0 IN r .+1 m o I1D O 1- O 1 lD O r �D O lO O r lD D1 o tP m O � m o ift m 0 ul C) CJ O p p p o o O o O O O O In U r, v1 • -I O U W z W C1 W V W V W C1 W U u1 Wa a � Z a vwi a rwn a n s vwi a in z H a ¢ 0 x o' a O ❑ q O o 0 v7 0 0 rn 0 0 cn 0 0 w v7 o 0 w y w 0 a' x 3 W a a w Z O > r1 r+ Q7 o 0 0 0 0 0 0 0 0 0 0 0 0 O O U H N O o w p W O w p W O F W W O U rl z O U O o U W O 0 U W O 0 U W O 0 U W O o U W O a a. H O O 3 a a H v. 0 «] ,. P rn rn 0 z in N a a N 0 o 0 0 0 0 0 0 0 0 o o m 1 o o m 0 o 0 o o rn a H z, o 0 0 0 o in ^i o n o 0 0 N 0 o x o � m 0 0 0 o a 0 0 0 o 0 0 0 o a 0 0 0 0 0 o m 0 u� .L in 0 z 0 0 o cr in o 0 0 m H 0 z 0 H cA a o H > a m a o m a o > a u w 0 H a of H a z a H 6 a�, a m °' H a rul W a W F H pHo E a H F offo offo F ElH a pHp F UU offo pFp H z F U pHp F : OH pHp pNp U O w a: H O Ix n to H❑ a iz O Fi a❑ a w O � H❑ a w a O O ❑ u z❑ a c� O H a O O ❑ ❑❑❑ z O !� H a O Z O o ❑ u C4 a❑ a O z: U w m z O > in z m > w z m z w O m> z z z z > > z zW > 17 O> Wz O z H O H z ,n �� ,r, � x a FC a El .m x x ❑ w w o o C n a m rn rn rn rn rn rn rn rn rn rn rn o o u, m 0 o v rn rn a H2, n z o m z z w o, 2 u� m Q o0 W E' a w o o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 m o rn 0 rn 0 m 0 m 0 m 0 rn 0 r- n rn rn rn 0 rn 0 y.D n 0 o ti ti 0 0 u o �r �-+ o v 0 v 0 o 0 N o ci r, o U fi rl ti ti ti ti ti 0 0 0 0 0 w U O 0 ❑ o a z RC u m z H a F x f o w w Z U r H W a w F z a w i a m o 0.=i a � a a El F W w a m mo 3 m >+ O+ a o u s m Z a i.J �. o ❑ w a a m H o a z 5 h o a Z (j > O O C: u1 O O O ut O O O rn O �� O ui O irl O � U ,G ? ._ O O 0 OW a a rOr�� H O F O D O > 0 4Q b5 i ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME 37600 37601 37602 37603 37604 37605 37606 37607 37608 37609 37610 37611 37612 37613 37614 37615 37616 37617 37618 37619 ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 06/24/99 AME075 AUT030 BEN050 BET100 CAL050 CUN100 CVA010 DAVO10 HUL010 LAQ050 LOP100 PEDO10 REY050 RIV040 SHA040 STJO10 SUP100 UNIO05 WAS010 WEL100 AMERICAN RED CROSS AUTOMATED TELECOM SUSAN BENAY OLGA S BETANCOURT STATE OF CALIFORNIA DENNIS CUNNINGHAM C V A G MIKE DAVIS KATHRYN HULL LA QUINTA CITY EMPLOYEES GILBERT LOPEZ KATHRYN PEDERSEN ELAINE REYNOLDS RIV CNTY DISTRICT ATTORNY ROSITA SHAMIS VICTORIA ST JOHNS SUPPORT PAYMENT CLEARING - UNITED WAY OF THE DESERT WASTE MANAGEMENT OF DESRT PATRICK WELCH CHECK TOTAL 3:01PM 06/24/99 PAGE 1 PAYMENT AMOUNT 35.00 292.47 50.00 50.00 25.00 50.00 120.00 50.00 50.00 308.00 50.00 50.00 50.00 426.50 50.00 50.00 150.00 155.00 897644.49 50.00 899,706.46 �n L1 m O O In N N m H Z P, c x 7. i E+ O U o � r rJ O N o o O 0 u1 N 0 o 0 O � 0 o 0 O ul 0 O vt 0 W O m 0 O in 0 O a; w O O O O O O 0 O 0 0 O 0 0 0 0 r'1 O� C� N �fl C7 � H v N Vi Q if1 U z 0 z o N C7 .o C� z o :� m Q O � C7 o CJ w z ° O E; a ECGO+ a z a OFO [�-� H as Eai �-� a � H "' O H za � � • a Qz H 6 �, � a w off r� E+ v�i m c� v�i a EE7' > H � C[aJ� H H �a a a El F iC J v� O+ v� E w 0> aE. a u w E+ x °Q a a s o w °Q z °n °n °n o z o �w N o °Q z o z z J c_ If) O H z z W > xx z a W El > �7 z > z W > n a z W 5 > a z W W > W W W z W > O 0 z W > �7 z Q z > W µW7 a > z W > O .a w W V w C4 W z u v w �C c4 0 w v Q CG W z a h � h ? h h h .r n, m w m a 0 E� (17 G O O O O O O O O O O G O O ID o in n CJ 0 O � � ID O O •y O rn W W rn H O a Ql rn V W O w U W � N W CG r, E1 V z m x W o Q w a a Tj a Ci: Gl N 4� a V z H 04 H z z a a o W w a H m W Q >> U U r� H w z O K o 0 0 o c o 0 0 0 U ( a; �� O � O `a; O w w El w m o a i� z u n > u p > u O ❑ o .`al x o a a a4 O a W a u5 3 � �' o+ m CrSK H z J N N N N N It; w w N F-+ H O O O ul O O O O O O O O O 10 n m 0 �-1 O 1 Y l0 O O ]' ti O ,It O O O O O O ut O O O O O O CL O O O Ul F+ d' 1 O O Z O 0 U a ) � L- If) H O o 7 a. I ' H o 0 U a U) rt H H r� p o U a U E > H m O El zo a a c9 H o H H a O E+ W H 0 m z O H RC U z U U rz W w zU O WU cZ au a [H o �C H a. a c, In P: a a o o n o - pi H to In o o z. w o n z to F, [G , o z n z w m 0 n n z w m o n o z w n w m CD z , a u r H m o s In z v o a w N m 0 v o n+ a n z w a o n z € w rn G' w U P, U U W W m C4 H n w O U C) W c� w z a a :D T o, In In W m [z O o w E, cz w o o 0 0 0 o 0 u 0 o o N o o o o 0 0 0 0 W O (T O O O� O C) O O O N O =p rl N ,mil 0 O N O O= H z O O O O O O O O O o r1 J u O O O O O O O O O O vl ry' O O O O O O O O O O O O O O z H a H a H a In H a In H Ix In F+ a rI H a In E+ a In o O In Ca El a E+ U z x o z U F z m o W H W n w O w n w 0 H z w n w 0 H z w n w 0 N z w o w O w n w O w n w 0 w H w a z z z z z z a 5 CU ,.a O n w .V, a H u m O a F u a P0+ 04 5 cn o H H z o H to C 3 H U1 3 H m 3 H U] 3 n .. EHF U] 3 El In 3 u w cJ H Ui or., •-+ iq h H W 5 z z 11 2 0] n If) .r, rn rn a a a W w I 50 COUNCIL/RDA MEETING DATE: July 20, 1999 ITEM TITLE: Transmittal of Treasurer's Report as of May 31, 1999 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 7 STUDY SESSION: PUBLIC HEARING: Transmittal of Treasurer's Report dated May 31, 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 -availq,ble to meet-,neit month's estimated expenditures. John M. Falconer, Finance Director Appro d for Subr-gissiio y: r Thomas P. Genovese City Manager Attachment: Treasurer's Report, La Quinta Redevelopment Agency G. 5 5 TO: FROM: SUBJECT: DATE: TWY' 4 tPQui"tw MEMORANDUM La Quinta City Council John Falconer, Finance Director/Treasurer Treasurer's Report for May 31, 1999 July 6, 1999 Attached is the Treasurer's Report for the month ending May 31, 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: Increase of $1,436,240. due to the net effect of revenues in excess expenditures. State Pool: Increase of $2,500,020. due to the net effect of transfers to and from the cash and investment accounts and Property Tax distribution. U.S. Treasury Bills, Notes, Government Agency Securities and Commercial Paper: Increase of $7,013,860. due to the purchase of one T-Note, four Commercial Papers and monthly adjustment in the amortized value of the investments. Mutual Funds: Decrease of $3,054,652. due to the purchase one T-Note and interest earned. Total increase in cash balances $7,895,468. 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 Inv, stment 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. John M. 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''a i0 Imo' p N IOj v nN 4 i l p R O 10 IOI O OIO R n CIO C-) O, N OIMI (v� O N IO C)I O I CO N M N IO LC) �MI R iN M .O OIOI CO OINI 00 O' � N ' .� Cl)N v_ol(DI COol'o o I. CD I mn qri o oen Iao � OIRI '. �oO� (14, I N M MI N �� I I(D 51DR)I IO pin! O O 110 IpI D1 n ILO N M Ii n I'r OINI O O,6Ii III m Oi o I M (n LO C o (n I(nD vlc%Il('�' 'n InI N :� Cl) n M n M O M O ,.o N COL' m Imo' m aI co all, itl m E F m'' i O a`I i R to 1 > O, o'I C'lo, yI V (° U, V'' I = Iu, m c1 c'QI ' OCf'ym -I md N m d ? m m L,. � ILL y O CD c rn m «' VI— � > ILI NI Im' U U. m O! IUI U Cm1 N' (mj liY C) CI E C31 UI y la •O C. o, C. V O Z O. N o OM (�� C 1 7 a Q, l y m' o Z w O .O J C CI m oy _ m'la o,2 WI mlCc m Z U t'Cc m- p m.LL 7I 7 �j IUI UIm fnl h'LL a 'U `o C C > d DI— 1E1 l0, p �I O d O� m O ml o, �' m x !. w w a,g �If-I alm 01�1 z� CL m nC CITY OF LA GUINTA BALANCE SHEET 06131M ASSETS: POOLED CASH LORP INVESTMENT IN POOLED CASH INVESTMENT T43ILLINOTES 6 OTHER AUTO MALL CASH LORP CASH BOND REDEMPTION CASH BOND RESERVE CASH BOND PROJECT CASH BOND ESCROW CASH PETTY CASH 1.000.00 1.D00 00 CASH i INVESTMENT TOTAL 31.725.714.15 27.338.247.06 573,593.50— - -- 59,638,554 71 INVESTMENT IN LAND HELD FOR RESALE CITY CITY RDA RDA FA FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL 3,925,71212 11,270,957,41 (8,486 43) 15.188.183.10 880,000.00 680.000.00 2.8,o00,000.00 26.000.000.00 I.SW,00203 t.800.002-03 86,035.27 86,035.27 175,356.69 28.73 175,387 41 15,125,895.70 592.051.20 15,707.946. 90 ACCOUNTS RECEIVABLE 64,425.08 79,157.68 6.260.000.00 8.393.584.64 PREMIUMIDISCOUNT ON INVESTMENT 37,167.84 1,473.N (6 ) (510.00) (24.815.82) LORP-ACCOUNTS RECEIVABLE 41,919.78 - 41,919.70 INTEREST RECEIVABLE 142,956.80 142,955.80 LOAN/NOTES RECEIVABLE 120,30249 Z,526,967.76 2,658,330.25 DUE FROM OTHER AGENCIES DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 13,063.40 551,038.04 564.701 A4 DUE FROM RDA 8.890,Z77.20 6,890,277.20 INTEREST ADVANCE -DUE FROM RDA 1.023.211.97 1,023.211 97 ADVANCES TO OTHER FUNDS 995,721.94 995.721 94 NSF CHECKS RECEIVABLE $776.66 2.77668 ACCRUED REVENUE 833.40 833.40 TRAVEL ADVANCES 3.794.00 3,79400 EMPLOYEE ADVANCES PREPAID EXPENSES RECEIVABLE TOTAL 0,150,402.46 3,293,309.00 5,259,490,00 _ 20,693,291.48 WORKER COMPENSATION DEPOSIT 37,637.00 37.637.00 RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2100.00 2,100.00 DEPOSITS ToTAL7 39,81200 39.812.00 GENERAL FIXED ASSETS 1,098,865.00 15,000,706.00 11,438,745.05 27.546.318,05 ACCUMULATED DEPRECIATION (746,125.XIZ) (746,125.02) AMOUNT AVAILABLE TO RETIRE UT DEBT 3.395.117.03 3.395.11 T03 AMOUNT TO BE PROVIDED FOR UT DEBT 1,944,070.34 98,403,114.00 8,260,000.00 106,607,184.34 TOTAL OTHER ASSETS 3S$739.98 15,006,708.00 1,944,070.34 11,430,745.05 99,796,231.03 8,260,000.00 136102,4"AO TOTAL ASSETS 41,289,08.61 15,008,706.00 1.944.070.34 30.62L648.08 11 438,745.05 99,796,231 03 0 833 083 50 8,260000 00 217 174 152.59 LIABILITY ACCOUNTS PAYABLE (0.02) 2$139.53 (504.08) 21.635.43 DUE TO OTHER AGENCIES 1,134,380.96 1,134,380.98 DUE TO OTHER FUNDS 995,721.94 551.038.04 13.663.40 1.560,423,38 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES 106,490.33 106,490,33 STRONG MOTION INSTRUMENTS 3,4/1.21 3,441,21 FRINGE TOED U2J1RD FEES 38,300.00 33,300.00 SUSPENSE (6,105.33) (6.105.33) DUE TO THE CITY OF LA QUINTA __ PAYABLES TOTAL 2,272,228.11 22,139.53 551,036.04 13,159.32 2,858,585.00 ENGINEERING TRUST DEPOSITS $8.224.00 58,224.09 SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 480,835.20 466.835.20 LORP DEPOSITS 15,595.99 15.595.99 DEVELOPER DEPOSITS 1,738,568.13 1.736.568 13 MISC. DEPOSITS 160.888.65 160,868.55 AGENCY FUND DEPOSITS 1 565 5S231 1,585,552.31 TOTAL DEPOSIT$ 3,988.04425 15.505.99 4,003,640,27 DEFERRED REVENUE 11,250.23 8,260,000.00 8,27• :50.23 OTHER LIABILITIES TOTAL 11.250.23 8,260,000.00 8.: ..250.23 COMPENSATED ABSENCES PAYABLE 313,619.81 313,619.81 DUE TO THE CITY OF LA OUINTA 1,W8,311.00 9,713,490.38 11,321,801.38 DUE TO COUNTY OF RIVERSIDE 12,801,591.90 12,WI,591.90 DUE TO C.V. UNIFIED SCHOOL DIST. 10,068,148.7E 10,068,148.75 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 87,415,000-00 8,260,000.00 75,675,000.00 TOTAL LONG TERM DEBT 1.921.930.81 99,798,231.03 8,260,000.00 109.9W, 16 1 .84 TOTAL LIABILITY EOUI Y•FUND BALANCE TOTAL LIABILITY: EQUITY 6.271,52262 34.906.145.99 15.008, 708.00 1,944,070.34 586.834.03 99,798,231.03 8,273,159.32 8,260,000.00 125,113,617.34 30,055,012.03 11,438,745.05 559.924.18 92,050,535.25 41.20,604.01 15.008.708.00 1,944,070.34 30,621,648.00 11 438 745.05 99 796.231.03 IIA33 083.50 8 260 000.00 21 1174 152_59 In Td4t 4 4 Q" COUNCILIRDA MEETING DATE: .July 20, 1999 ITEM TITLE: Adoption of a Resolution Approving Compensation for Redevelopment Agency Board Members and Authorizing the Payment of Expenses RECOMMENDATION: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Adopt a Resolution of the Redevelopment Agency approving compensation for the Redevelopment Agency Board Members and authorizing the payment of expenses. FISCAL IMPLICATIONS: The State of California Health and Safety Code Section 33114 authorizes the payment to Redevelopment Agency Board Members for their expenses. State Health and Safety Code Section 33114.5 provides for members of a legislative body serving as Agency Board Members for jurisdictions of less than 200,000 in population to receive compensation. For each Board Member, the compensation may not exceed $30.00 per Agency meeting for up to four (4) meetings in any calendar month. BACKGROUND AND OVERVIEW: The State of California Health and Safety Code allows public jurisdictions to reimburse Redevelopment Agency Board Members for actual expenses. The State Code also authorizes payment to each Agency Board Member not to exceed thirty dollars ($30) for up to four (4) meetings in any calendar month. The code requires that the city have a population of less than 200,000 and the legislative body of the city must also serve as members of the Redevelopment Agency Board. The City of La Quinta's Redevelopment Agency meets the conditions outlined in the State code. FINDINGS AND ALTERNATIVES: The alternatives available to the Redevelopment Agency include: 1 . Adopt a Resolution of the Redevelopment Agency approving compensation for the Redevelopment Agency Board Members and authorizing payment of expenses; or 2. Do not adopt a Resolution approving compensation for the Redevelopment Agency Board Members and authorizing payment of expenses; or 3. Provide staff with alternative direction. Respectfully submitted, -1 John Ruiz;" Pe sor n VRisk Manager Approved for submission by: Thomas P. Genovese, City Manager C . RESOLUTION NO. A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY ESTABLISHING AND RATIFYING COMPENSATION FOR AGENCY BOARD MEMBERS AND AUTHORIZING THE PAYMENT OF EXPENSES WHEREAS, the members of the City Council of the City of La Quinta also serve as the members of the Board of the La Quinta Redevelopment Agency ("Agency"); and WHEREAS. Health and Safety Code Section 33114 authorizes the payment to Agency Board Members of their actual and necessary expenses, including travel expenses, incurred in the discharge of their duties; and WHEREAS, Health and Safety Code Section 33114.5 provides that when the members of the legislative body of a city also serve as the members of the board of the Redevelopment Agency, and the city has a population of less than 200,000, the Redevelopment Agency may authorize compensation to its Members not exceeding thirty dollars ($30) per member for each meeting of the Redevelopment Agency attended by the member, for up to four (4) meetings in any calendar month. NOW, THEREFORE, the La Quinta Redevelopment Agency DOES HEREBY RESOLVE as follows: SECTION 1. That the Agency hereby authorizes the payment to Agency Board Members of their actual and necessary expenses, including travel expenses, incurred in the discharge of their duties. SECTION 2. The Agency hereby authorizes the payment to Agency Board Members of compensation of thirty dollars ($30) per member for each meeting of the Agency attended by the member, for up to four (4) meetings in any calendar month. SECTION 3. All Agency expenditures for Agency Board Member expenses, as provided in Section 1 of this Resolution, and for compensation for attendance at Agency meetings as provided in Section 2 of this Resolution, that have been disbursed or paid prior to the date of this Resolution are hereby approved, ratified, and confirmed and are declared to be in accordance with this Resolution. PASSED AND ADOPTED by the La Quinta Redevelopment Agency at a regular meeting held on the day of , 1999. CHAIRMAN 003 ATTEST: AGENCY SECRETARY STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF LA QUINTA ) I, , Secretary of the La Quinta Redevelopment Agency, DOES HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of the La Quinta Redevelopment Agency held on the day of 1999, by the following vote: AYES: AGENCY MEMBERS: NOES: AGENCY MEMBERS: ABSENT: AGENCY MEMBERS: SECRETARY 11)0 Tdit 4 4 QtdAro AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: July 20, 1999 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: Consideration of Adopting Resolution PUBLIC HEARING: approving the Fiscal Year 1999-2000 La Quinta Redevelopment Agency Budget RECOMMENDATION: Adopt a Resolution of the City Council approving the Fiscal Year 1999-2000 City of La Quinta Redevelopment Agency Budget. FISCAL IMPLICATIONS: All Fiscal Year 1999-2000 revenues, operational appropriations and capital project funding are included in the Proposed Fiscal Year 1999-2000 City of La Quinta Budget. BACKGROUND AND OVERVIEW: See City Council Staff Report Respectfully submitted, Thomas P. Genovese, Executive Director V RESOLUTION NO. RA99 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY APPROVING A BUDGET FOR FISCAL YEAR 1999-2000 WHEREAS, each year the La Quinta Redevelopment Agency adopts a Budget for Revenues and Expenditures for the upcoming Fiscal Year; and WHEREAS, the La Quinta Redevelopment Agency desires to make provisions for a level of services commensurate with the needs of the City; and WHEREAS, the La Quinta Redevelopment Agency has reviewed said budget and has had several public meetings to receive public input, and WHEREAS, the La Quinta Redevelopment Agency has, after due deliberation and consideration, made such amendments in the proposed budget as it considers desirable; and NOW, THEREFORE, BE IT RESOLVED by the La Quinta Redevelopment Agency to adopt, as follows: SECTION 1. The Fiscal Year 1999-2000 Budget which is on file with the La Quinta Redevelopment Agency Secretary, is hereby approved. SECTION 2. Continuing Appropriations which remain unspent and were authorized by Council in Fiscal Year 1998-99, are approved in the Fiscal Year 1999/2000 Budget in an amount not to exceed $684,351 ( Attachment 1). SECTION 3. Budget adjustment procedures are approved as follows: A. Additional appropriations and the transfer of cash or unappropriated fund balance from one fund to another shall be made only upon Redevelopment Agency approval. B. Transfers of budgeted appropriations between divisions or capital projects shall be made only upon Redevelopment Agency approval. C. Transfers of budgeted appropriations between accounts within a division or capital project may be made with the approval of the Executive Director or his designee. SECTION 4. The Executive Director shall render a monthly report to the La Quinta Redevelopment Agency Board on the status of Agency operations as it relates to the approved budget and any amendments thereto. Gl3J fin? PASSED, APPROVED AND ADOPTED this by the following vote: AYES: NOES: ABSENT: ABSTAIN RONALD PERKINS, Chairman La Quinta Redevelopment Agency ATTEST: SAUNDRA L. JUHOLA, Secretary La Quinta Redevelopment Agency APPROVED AS TO FORM: DAWN HONEYWELL, Attorney La Quinta Redevelopment Agency T4ty,� 4 4a Q" AGENDA CATEGORY: BUSINESS SESSION: a COUNCIL/RDA MEETING DATE: July 20,1999 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: Consideration of a Request by Building Horizons for Additional Funding to Pay Down the Mortgage on Their PUBLIC HEARING: Third House (52-100 Avenida Velasco) RECOMMENDATION: As deemed appropriate by the Redevelopment Agency Board. FISCAL IMPLICATIONS: The request will require an expenditure of $5,000 from the Project Area No. 1 Low and Moderate Income Housing Fund. BACKGROUND AND OVERVIEW: In 1994, the Redevelopment Agency entered into a Disposition and Development Agreement with Building Horizons to facilitate the construction and sale of two single family homes to low or moderate income households. Subsequent to this Agreement, each year the Agency has entered into an Affordable Housing Agreement to provide assistance with the program. In November, 1998 Building Horizons requested Quiet Second funding to construct a third house between two previously approved houses that were currently under construction. The Agency approved the request (Attachment 1) with the stipulation that the funding parameters for the third house be the same as those for the Home Purchase Second Trust Deed Loan Program. Building Horizons has approved an applicant for the purchase of the third house. As stated in their letter of July 12, 1999 (Attachment 2), Mr. Torres, a single parent with three children, qualifies for a Low Income loan of up to $50,000 under the Home Purchase Second Trust Deed Loan Program; however, he needs $60,000 to secure the mortgage. Based on the Agency's direction at their November, 1998 meeting, Mr. Torres is ineligible to purchase this home. Therefore, Building Horizons is asking the Agency to match their $5,000 to allow this loan to be funded. CAMy Documents\WPDOCS\ccjh-BldgHor.wpd il'Ii FINDINGS AND ALTERNATIVES: Alternatives available to the Agency Board are: 1. Approve matching funds in the amount of $5,000 to match $5,000 that Building Horizons will provide to fund the home loan; or 2. Do not approve the matching funds; or 3. Provide staff with alternative direction. Respectfully submitted, Jerry Her an, Community Development Director Approved for Submission by: Thomas P. Genovese, City Manager Attachments: 1. City Council Minutes for November 3, 1998 2. Letter from Building Horizons dated July 12, 1999 ATTACHMENT #� Redevelopment Agency Minutes 2 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. Mr. Herman, Community Development Director, advised that Building Horizons has requested funding to allow construction of a third unit between two units that they will be constructing as part of their program approved earlier this year. They have requested that the Agency allow covenants and subsidies for the Quiet Second Program for this unit. He advised that the unit is required to have a different front elevation from the other two units. Board Member Pena was concerned about the homes being grouped together and asked if anything has been done to require the units to be changed when they are within a certain distance of each other. Mr. Herman advised that new regulations took effect September 4 which does not permit same elevations to be within 200 feet of each other. The other two units were approved prior to the effective date. In response to Board Member Adolph, Mr. Herman advised that two are three - bedroom units and the third is a four -bedroom unit. In response to Board Member Pena, Joe Sitko, of Building Horizons, Inc., advised that the sale price will be at the high end of the market. MOTION - It was moved by Board Members Sniff/Henderson to 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. Motion carried unanimously. STUDY SESSION - None DEPARTMENT REPORTS - None CHAIR AND BOARD MEMBERS' ITEMS - None V! r, v dT`T1461MENT #2 �P QU'I ?E^4;VEU JUL 1 2 10 July 12, 1999 Mr. Jerry Herman Director of Community Development City of La Quinta P.O. Box 1504 La Quinta, CA 92253 Dear Mr. Herman: I am writing to request approval from the City of La Quinta Redevelopment Agency for your support in obtaining additional redevelopment monies to be used to pay down the mortgage on the home located at 52-100 Ave. Velasco in La Quinta. We have identified a buyer for the property with the assumption that the subsidy would be $60,000.00. We qualified the potential new homeowner with that sum and when we went to RSG to complete the sale, we were told that only $50,000.00 was available. Mr Torres is a single parent with three children, Estophan 14, Jacquline 11, and Alma 6. He is a custodian for Desert Sands Unified School District and has held that position for nine years. He has no outstanding debts. For the past two years, he has been living with his sister in order to save for a down payment on a home. We are requesting an additional $5,000.00 from the Redevelopment agency to match $5,000.00 that Building Horizons is willing to put in to make the deal work for Mr. Torres. Your consideration is appreciated. Sincerely, Joseph R. Sitko Executive Director JRS/ds T4'ft 4 4 Q" COUNCIL/RDA MEETING DATE: ITEM TITLE: Transmittal of Revenue and Expenditure Reports dated May 31, 1999 RECOMMENDATION: Receive and File AGENDA CATEGORY: BUSINESS SESSION: July 20, 1999 CONSENT CALENDAR: BACKGROUND AND OVERVIEW: STUDY SESSION: PUBLIC HEARING: Do- 12+-- 2 :-L Transmittal of the May 31, 1999 Statement of Revenue and Expenditures for the La Quinta Redevelopment Agency. John M. Falconer, Finance Director Approved for Submission by: Thomas P. Genovese City Manager Attachments: 1 . Revenue and Expenditures Report, May 31, 1999 675 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 07/01/1998-05/31/1999 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 9,969,108.00 10,301,813.08 (332,705.08) 103.34% 0.00 27,868.37 (27,868.37) N/A 0.00 305,083.31 (305,083.31) N/A 371,521.00 343,057.73 28,463.27 92.34% 1,738,801.00 1,099,888.00 638,913.00 63.26% 12,079,430.00 12,077,710.49 1,719.51 99.99% 0.00 25,879.50 (25,879.50) 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 511,509.00 511,509.00 0.00 N/A 698,309.00 1,492,91.8.17 (794,609.17) 213.79% 2,492,277.00 2,575,453.27 (83,176.27) 103.34% 247,500.00 95,941.62 151,558.38 38.76% 0.00 0.00 0.00 N/A 341,000.00 379,613.32 (38,613.32) 111.32% 150,000.00 195,945.10 (45,945.10) 130.63% 0.00 15,911.17 (15,911.17) N/A 0.00 0.00 0.00 N/A 3,230,777.00 3,262,864.48 _ (32,087.48) 100.99% 0.00 0.00 0.00 N/A 135,000.00 237,445.70 (102,445.70) 175.89% 0.00 0.00 0.00 N/A 135,000.00 237,445.70 (102,445.70) 175.89% LA QUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 1: DEBT SERVICE FUND: SERVICES BOND PRINCIPAL BONDINTEREST INTEREST CITY ADVANCE PASS THROUGH PAYMENTS TRANSFERS OUT TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: PERSONNEL SERVICES 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 HOUSING PROJECTS TRANSFERS OUT TOTAL LOW/MOD BOND 07/01/1998 - 05/31/1999 REMAINING BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED 212,000.00 188,644.50 0.00 23,355.50 88.98% 2,090,852.00 2,091,490.00 0.00 (638.00) 100.03% 3,202,233.00 3,204,720.67 0.00 (2.487.67) 100.08% 371,521.00 343,057.73 0.00 28,463.27 92.34% 5,831,693.00 5,732,228,41 0.00 99,464.59 98.29% 511,509.00 511,509.00 0.00 0.00 N/A 12,219,808.00 12,071,650.31 0.00 148,157.69 98.79% 8,100.00 5,631.72 0.00 2,468.28 69.53% 2,270,147.00 138,375.93 0.00 2,131,771.07 6.10% 190,669.00 174,779.99 0.00 15,889.01 91.67% 3,448,747.00 (70,598.59) 0.00 3,519,345.59 -2.05% 5,917,663.00 248,189.05 0.00 5,669,473.95 4.19% 2,650.00 1,803.22 0.00 846.78 68.05% 1,863,960.00 1,356,671,17 0.00 507,288.83 72.78% 694,039.00 636,202.38 0.00 57.836,62 91,67% 1,738,801.00 1,099,888.00 0.00 638,913.00 63.26% 4,299,450.00 3,094,564.77 0.00 1,204,885.23 71.98% 5,800.00 3,830.50 0.00 1,969.50 66.04% 53,528.00 31,347.10 0.00 22,180.90 58.56% 0.00 0.00 0.00 0.00 N/A 0.00 0.00 0.00 0.00 N/A 5,623,442.00 2,033,718.95 0.00 3,589,723.05 36.17% 5,682,770.00 2,068,896.55 0.00 3,613,873.45 36.41 % LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO. 2: 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 Transferin TOTAL LOW/MOD BOND 07/01/1998-05/3111999 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 3,747,891.00 4,068,063.05 (320,172.05) 108.54% 0.00 57,037.27 (57,037.27) N/A 0.00 6,040.21 (6,040.21) N/A 461,880.00 460.355.76 1,524.24 99.67% 338,674.00 202,749.00 135,925.00 59.87% 4,548,445.00 4,794,245.29 (245,800.29) 105.40% 20,000.00 49,432.45 (29,432.45) 247.16% 10,000.00 (117,243.13) 127,243.13 -1172.43% 0.00 5,000.00 (5,000.00) N/A 742,609.00 742,609.00 0.00 N/A 0.00 0.00 0.00 N/A 772,609.00 679,798.32 92,8.10.68 87.99% 936,973.00 1,017,015.77 (80,042.77) 108.54% 0.00 622,304.55 (622,304.55) N/A 20,000.00 76,634.87 (56,634.87) 383.17% 0.00 0.00 0.00 N/A 956,973.00 _ 1,715,955.19 (758,982.19) 179.31% 0.00 0.00 0.00 N/A 20,000.00 72,447.30 (52,447.30) 36224% 0,00 0.00 0.00 N/A 20,000.00 72,447.30 (52,447.30) 362.24% r LA OUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 2: DEBT SERVICE FUND? SERVICES BOND PRINCIPAL BONDINTEREST 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 - 05131/1999 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 99.080/,, 526,033.00 523,448.00 0.00 2.585-00 99 51 % 1,461,880.00 1,460,355.76 0.00 1,524.24 99.90%. 2,844,245.00 2,058,014.62 0.00 786.230.38 72.36% 742,609.00 742,609.00 0.00 0.00 N/A 5,712,265.00 4,921,420.58 0.00 790,844.42 86.16% 4,100.00 2,816.64 0.00 1,283,36 68.70% 125,498.00 118,592.75 0.00 6,905.25 94.50% 100,000.00 0.00 0.00 100,000.00 0.00% 175,292.00 160,684.37 0.00 14,607.63 91.67% 2,326,628.00 404,876.31 0.00 1,921,751.69 17.40% 2,731,518.00 686,970.07- 0.00 2,044,547.93 25.15% 1,950.00 1,154.15 0.00 795.85 59.19% 498,563.00 107,336.85 0.00 391,226.15 21.53% 337,863.00 309,707.64 0.00 28,155.36 91.67% 1,480,886.00 202,749.00 0.00 1,278,137.00 13.69% 2,319,262.00 620,947.64 0.00 1,698,314.36 26.77% 2,650.00 1,661.21 0.00 988.79 62.69% 40,423.00 46,898.30 0.00 (6,475.30) 116.02% 0.00 0.00 0.00 0.00 N/A 2,990,542.00 663,467.45 0.00 2,327,074.55 22.19% 3,033,615.00 712,026.96 0.00 2,321,588.04 23.47% TitT 4 4a Q" AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: July 20, 1999 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: Joint Public Hearing Between the City Council and the Redevelopment Agency to Consider the Five Year PUBLIC HEARING: Implementation Plan for the La Quinta Redevelopment Project Areas Nos. 1 and 2 RECOMMENDATION: Adopt the Second Five Year Implementation Plan for Redevelopment Project Areas Nos. 1 and 2. FISCAL IMPLICATIONS: None at this time. BACKGROUND AND OVERVIEW: Section 33490 of the California Community Redevelopment Law requires that the Redevelopment Agency adopt a Five Year Implementation Plan for Project Areas Nos. 1 and 2 every five years after the initial Implementation Plan was adopted in 1994. In December 1994, the Agency adopted the First Five Year Implementation Plan which terminates later this year. In June 1999, the Agency Board conducted a study session to discuss accomplishments to date and potential activities for the next five year term of the Project Areas. The information provided during the study session has been incorporated into the attached proposed Second Five Year Implementation Plan for the Agency's consideration and approval. The Second Five Year Implementation Plan delineates a series of economic development, redevelopment and housing initiatives including the following: Project Area No. 1 - Non -Housing Programs and Projects: Over the next five years, the Agency anticipates investing its Project Area No. 1 non - housing resources in a variety of capital improvements to upgrade substandard infrastructure and stimulate economic growth. Projects envisioned include: v3,0 COH.009 • Construction of a traffic signal at Calle Tampico and Eisenhower Drive • Washington Street/Interstate 10 interchange improvements • Avenue 52 median landscaping • Sinaloa median landscaping • Calle Tampico median landscaping The Agency also proposes to implement an Economic/Community Development Program to facilitate the construction and improvement of public facilities and infrastructure, as well as encourage development within Project Area No. 1. Project Area No. 2 - Non -Housing Programs and Projects: During the next five years the Agency proposes to continue economic development programs targeting the Highway 111 and Washington Street Corridors in Project Area No. 2. In addition, the Agency proposes an Economic/Community Development Program to facilitate development, provide community facility improvements, and expand public infrastructure. Through this program, the Agency intends to improve the economic viability of the community while addressing the conditions of blight present in Project Area No. 2. Project Areas No. 1 and 2 - Housing As stated in the Second Housing Compliance Plan (Appendix 1 to the attached Second Five Year Implementation Plan), the Redevelopment Law requires the production of a total of 571 affordable housing units over the next five years (i.e., Fiscal Years 1999/2000 through 2003/04). The Agency's proposed housing projects and programs, as presented in both the Second Five Year Implementation Plan and Second Housing Compliance Plan, could potentially result in the development of at least 384 affordable units during this five year period. These programs are as follows: • Completion of the Avenue 48 and Jefferson Street project (Catellus) • Washington Street and Miles Avenue potential affordable housing proposals • RGC single family proposal at Avenue 48 and Adams Street • A. G. Spanos proposal at Avenue 48 and Adams Street • Village live/work housing • Building Horizons Housing Program • Sewer Assessment Subsidy Program • La Quinta Rental Housing Program • La Quinta Quiet Second Housing Program All programs and projects above collectively, with the exception of the Sewer Assessment Subsidy Program, are anticipated to produce the 384 affordable units with long term affordability covenants in both Project Areas. With respect to the remaining 187 affordable units projects to be needed during the next five years, the Agency/City Council will consider other development incentives, such as those provided in the Second Housing Compliance Plan, to facilitate the production of these units within the required time frame. G 3.1 cclx.009 Affordable housing units in the Project Areas may also be produced by non-profit entities over the next five years. In particular, the Coachella Valley Housing Authority is currently completing approximately 80 units in Project Area No. 1 which will be made affordable to very low and low income households. These 80 units will be counted toward the affordable housing deficit of 571 units over the next five years. FINDINGS AND ALTERNATIVES: The alternatives available to the Redevelopment Agency include: 1. Adopt the Second Five Year Implementation Plan for Redevelopment Project Areas No. 1 and 2; or 2. Approve the Second Five Year Implementation Plan with amendments; or 3. Provide staff with alternative direction. Respectfully submitted, Jerry Herma Cgmmunity Development Director Approved for Submission, Thomas P. Genovese, Executive Director Attachment: 1. Second Five Year Implementation Plan for Redevelopment Project Areas No. 1 and 2. C, 3 CCJH.009 C 13 ATTACHMENT #1 SECOND FIVE-YEAR IMPLEMENTATION PLAN PROJECT NOS.1 AND 2 Prepared for: LA QUINTA REDEVELOPMENT AGENCY Contact: Frank J. Spevacek, Principal Rosenow Spevacek Group, Inc. 540 North Golden Circle, Suite 305 Santa Ana, California 92705 Phone: 714.541.4585 Fax: 714.836.1748 E-Mail: RSGIncCA(a..aol.com i6 3 3 CS5 SECOND FIVE-YEAR IMPLEMENTATION PLAN PROJECT NOS. 1 AND 2 TABLE OF CONTENTS SECTION PAGE Introduction............................................................................................. 1 Background............................................................................................. 3 PART 1 - PROJECT NO. 1 NONHOUSING.............................................. 4 Goals and Objectives.............................................................................. 5 BlightingConditions............................................................................... 7 Financial Resources............................................................................... 9 NonhousingPrograms.......................................................................... 11 PART 2 - PROJECT NO. 2 NONHOUSING............................................ 24 Goals and Objectives............................................................................ 25 Blighting Conditions............................................................................. 27 Financial Resources............................................................................. 29 Nonhousing Programs.......................................................................... 31 PART 3 -PROJECT NOS. 1 AND 2 HOUSING ...................................... 34 Financial Resources............................................................................. 35 HousingPrograms.............................................................................. 38 EXHIBIT "1" MAP OF PROJECT AREAS APPENDIX "I" SECOND HOUSING AFFORDABILITY COMPLIANCE PLAN 6 31Y UvG INTRODUCTION This document is the Second Five -Year Implementation Plan ("Implementation Plan") for La Quinta Redevelopment Project and Project Area No. 1 ("Project No. 1" or "Project Area No. 1") and La Quinta Redevelopment Project No. 2 and Project Area No. 2 ("Project No. 2" or "Project Area No. 2") of the La Quinta Redevelopment Agency ("Agency"). This Implementation Plan meets the requirements of Section 33490 of the California Community Redevelopment Law, Health, and Safety Code Sections 33000 et seq. ("Law"). Pursuant to Section 33490 of the Law, this Implementation Plan presents: • Agency goals and objectives for Project Area No. 1 and Project Area No. 2 (collectively referred to as the "Project Areas"). • Specific Agency programs, projects, and expenditures for the five-year term (i.e., 1999-00 through 2003-04). An explanation of how these goals, objectives, projects, and expenditures eliminate blight in the Project Areas. • An explanation of how these specific goals, objectives, projects, and expenditures implement Sections 33334.2, 33334.4, 33334.6, and 33413 by increasing, improving, and preserving the supply of housing affordable to very low, low, and moderate income households. An explanation of how these specific goals, objectives, projects, and expenditures will implement the low and moderate -income housing requirements of the Law by specifically including the following: 1. An annual Housing Program for the five-year term that provides sufficient detail to measure performance of the Low and Moderate Income Housing Fund ("Housing Fund") requirements. 2. An enumeration of the number of housing units to be rehabilitated, assisted, price restricted, or destroyed during the term of the respective Project No. 1 and No. 2 Redevelopment Plans. 3. An outline of the Agency's plan for the utilization of the Housing Fund including annual deposits, transfer of funds, or accruals for special projects. 4. An identification of programs/projects that will result in the destruction of existing affordable housing (if any), and the proposed locations for replacement housing. 5. The Agency's Ten -Year Housing Affordability Compliance Plan as required by Section 33413 and 33490(a)2 and 3 of the Law. 0 3 j La Quinta Redevelopment Agency La Quinta Redevelopment Projects July 1999 1 Second Five -Year Implementation Plan INTRODUCTION The Agency's first Five -Year Implementation Plan was adopted in December 1994. Since then, the Agency has been actively implementing redevelopment, economic development and housing initiatives. G 3 0" La Quinta Redevelopment Agency La Quinta Redevelopment Projects July 1999 2 Second Five -Year Implementation Plan 008 BACKGROUND The City Council of the City of La Quinta ("City") established the Agency on July 5, 1983. Shortly thereafter, in November 1983, the Agency adopted the 11,600-acre Project No. 1, which includes land designated for commercial, office, residential, retail, institutional, recreational, and public uses. Generally, Project No. 1 is bounded by Avenue 50 to the north, Jefferson and Madison Streets to the east, Avenue 60 to the south, and the City limit boundary on the west. Project No. 1 was established to redevelop and expand deficient public infrastructure and facilities, and revitalize the La Quinta Village. The Project No. 1 Redevelopment Plan has been amended twice since its adoption. On December 20, 1994, the Agency amended the Plan's time limitations in conformance with Section 33333.6 of the Law. A second Redevelopment Plan amendment that extended time and financial limits, modified the Plan's goals, and expanded the list of potential projects was adopted in March 1995. On May 16, 1989, the Agency established its second redevelopment project, Project No. 2. Project Area No. 2 includes commercial and residential land uses and is approximately 3,116 acres in size. Located in the northern area of the City, Project Area No. 2 is bounded by Avenue 50 to the south, Fred Waring Drive (Avenue 44) to the north, Washington Street to the west, and Jefferson Street to the east. Project Area No. 2 also includes property west of Washington Street, north of the prolongation of the future alignment of Avenue 48; property surrounding Point Happy, north of Highway 111 and west of Washington Street; and property easterly of Jefferson Street and north of Highway 111. Project No. 2 was created to provide a mechanism to remove impediments to commercial and residential development. On December 20, 1994, the Agency amended the Project No. 2 Redevelopment Plan to bring its time limits in conformance with Section 33333.6 of the Law. La Quinta Redevelopment Agency La Quinta Redevelopment Projects July 1999 3 Second Five -Year Implementation Plan PART 1 PROJECT NO. 1 NONHOUSING La Quinta Redevelopment Agency July 1999 Project No. 1 Second Five -Year Implementation Plan - 010 GOALS AND OBJECTIVES -Project No. 1 Section 400 of the Project No. 1 Redevelopment Plan delineates the Agency's redevelopment goals for the Project Area. These goals, which are listed below, were employed to formulate the overall strategy for this Implementation Plan and serve as a guide for the Agency's activities during the five-year cycle. • Eliminate Blight: Eliminate and prevent the spread of conditions of blight including: underutilized properties and deteriorating buildings, incompatible and uneconomic land uses, deficient infrastructure and facilities, obsolete structures, and other economic deficiencies in order to create a more favorable environment for commercial, office, residential, and recreational development. • Expand Commercial Base: Expand the commercial base of the Project Area. • Improve Facilities/Infrastructure: Improve public facilities and public infrastructure. Improve Drainage Facilities: Improve inadequate drainage infrastructure. • Improve Utility Service: Improve and/or provide electric, gas, telephone, and wastewater infrastructure to both developed and undeveloped properties within the Project Area. Promote Job Growth: Promote local job opportunities. • Coordinate Stake Holder Participation: Encourage the cooperation and participation of residents, businesses, business persons, public agencies, and community organizations in the redevelopment/revitalization of the Project Area. • Ensure Quality Design and Development: Implement design and use standards to assure high aesthetic and environmental quality, and provide unity and integrity to developments within the Project Area. • Address Irregular Lots: Address parcels of property that are: of irregular form and s�.ape, are inadequately sized for proper usefulness and development, and/or are held in multiple ownership. • Assemble Parcels: Remove impediments to land disposition and development through the assembly of property into reasonably sized and shaped parcels served by improved infrastructure and public facilities. L3J La Quinta Redevelopment Agency Project No. 1 July 1999 5 Second Five -Year Implementation Plan 6111 GOALS AND OBJECTIVES - Project No. 1 • Correct Underutilized Lots: Recycle and/or develop underutilized parcels to accommodate higher and better economic uses while enhancing the City's financial resources. • Promote Housing: Promote the rehabilitation of existing housing stock. • Increase and Improve the Community's Supply of Affordable Housing: Increase, improve, and preserve the supply of housing affordable to very low, low and moderate income households. La Quinta Redevelopment Agency Project No. 1 July 1999 6 Second Five -Year Implementation Plan 012 BLIGHTING CONDITIONS - Project No. 1 Sections 33030 and 33031 of the Law define physical and economic blight as: • Unsafe/Dilapidated/Deteriorated Buildings. Buildings in which it is unsafe or unhealthy for persons to live or work. These conditions can be caused by serious building code violations, dilapidation and deterioration, defective design or physical construction, faulty or inadequate utilities, or other similar factors. • Physical Conditions that Limit the Economic Viability and Use of Lots/Buildings. Factors that prevent or substantially hinder the economically viable use or capacity of buildings or lots. This condition can be caused by a substandard design, inadequate size given present standards and market conditions, lack of parking, or other similar factors. • Incompatible Uses. Adjacent or nearby uses that are incompatible with each other and which prevent the economic development of those parcels or other portions of the project area. • Lots of Irregular Shape, Inadequate Size, and Under Multiple Ownership. The existence of subdivided lots of irregular form and shape and inadequate size for proper usefulness and development that are in multiple ownership. • Inadequate Public Infrastructure/Facilities. The existence of inadequate public improvements, parking facilities, open space, or utilities.' • Depreciated/Stagnant Property Values; Impaired Investments. Depreciated or stagnant property values or impaired investments, including, but not necessarily limited to, those properties containing hazardous wastes that require the use of agency authority as specified in Article 12.5 (commencing with Section 33459). • High Business Turnovers and Vacancies/Low Lease Rates/Abandoned Buildings/Vacant Lots. Abnormally high business vacancies, abnormally low lease rates, high turnover rates, abandoned buildings, or excessive vacant lots within an area developed for urban use and served by utilities. • Lack of Commercial Facilities. A lack of necessp y commercial facilities that are normally found in neighborhoods, including gr, ;;ery stores, drug stores, banks, and other lending institutions. 'At the time Project No. I was adopted, Section 33032 of the Law (which was repealed in 1994) provided that a blighted area was one which was characterized by, among other things: The existence of inadequate public improvements, public facilities, open spaces, and utilities which cannot be remedied by private or governmental action without redevelopment. A blighted area is currently defined as one that exhibits both physical and economic blight, and is characterized by,* i M existence of inadequate public improvements, parking facilities, or both. 0 J 1 La Quinta Redevelopment Agency Project No. 1 July 1999 7 Second Five -Year Implementation Plan 013 BLIGHTING CONDITIONS - Project No. 1 • Residential Overcrowding/Excess Bars Liquor Stores, Adult Businesses. Residential overcrowding or an excess of bars, liquor stores, or other businesses that cater exclusively to adults, that has led to problems of public safety and welfare. • High Crime Rates. A high crime rate that constitutes a serious threat to the public safety and welfare. The specific programs and projects contained in this Implementation Plan are designed to eliminate the conditions of blight which existed at the time Project No. 1 was adopted and which persist today despite the Agency's best efforts to eliminate such conditions. As will be illustrated in the following discussion, the blight as that term is currently defined, will also be eliminated. Generally, the conditions of blight present within Project Area No. 1 were a result of inadequate public improvements and infrastructure. Flood control, sewer, and circulation problems plagued much of Project Area No. 1. In addition, the stagnating Village commercial core that suffered from inadequate lot sizes and configurations that discourage development, was also identified as blighted. Since 1983, the Agency has constructed many improvements to the flood control system, and select street, park, and other capital improvements. The Agency has also provided financial assistance to homeowners for sewer hookups. However, insufficient roads and other public improvements continue to inhibit economic growth in Project Area No. 1. 69ti La Quinta Redevelopment Agency Project No. 1 July 1999 8 Second Five -Year Implementation Plan 014 FINANCIAL RESOURCES - Project No. 1 The table on the following page presents the nonhousing revenues the Agency may have available over the next five (5) years to fund non -housing Implementation Plan activities. The projections are based on a 4% growth rate in fiscal year 1999-00 secured values and a 3.5% annual increase in secured assessed values thereafter over the five (5) year period. No growth rates were assumed for unsecured or utility values. Outlined in the tables are projected tax increment receipts, taxing entity's fiscal mitigation payments, loan and debt service payments, and projected Agency administration costs. Funds available to implement future programs are identified as the remaining funds net of these operation and debt service obligations. The table also reports available fund balances as of May 31, 1999. 093 La Quinta Redevelopment Agency Project No. 1 July 1999 9 Second Five -Year Implementation Plan G15 FINANCIAL RESOURCES --Project No. 1 Project Area No. 1 - Debt Service/Capital Projects Funds 1 2 3 4 59-00 1990-01 200 2001-02 2002-03 2003-04 Beginning Fund Balance Per 1r99 Cash Flow Estimates 11.082,199 9,085.682 7.377284 7,163.055 7,213.049 Third SignatKoenig OPA (75.000) - - - - Due to PA Housing Fund (ERAF) (726,144) (769,713) (815,896) (864.849) Restricted: Sept Payment on 94 TABS (1,522.422) (1,545,804) (1,567,401) (1.595.054) (1.620.817) Restricted. Sept Payment on 98 TABS (409.760) (409,760) (409.760) (409 760) (409 760) Restricted December Payment to CVUSD (317,839) (332.087) (338.729) (345,504) (352 414) Beginning Available Cash Balance 8.031,034 5 026 619 4.245,598 3.947,887 4,830.059 Revenues Gross Nonhousing Tax Increment 10,532,422 10.951,678 11,385,609 11,834.727 12.299.565 Interest 125.000 125000 125000 125.000 125.000 TOTAL 10.657.422 11 076.678 11.510.609 11.959, 727 12.424.565 Senior Lien Expenditures Pass Through Payments Coachella Valley Water District 157,986 164,275 170,784 177, 521 184.493 Mosquito Abatement District 150.614 156,609 162,814 169,237 175,884 CVUSD 649.926 670,816 684,233 697,918 711.876 DSUSD - - - - - Riverside County Pass Through 4,352,523 4,525,781 4,705,103 4,890,701 5,082.795 Riverside County Repayment 773.528 1,803.705 1,803,705 1,803,705 2.190.473 --- Subtotal 6,084,577 7,321.186 7,526,639 7.739,082 8,345,521 Nonhousing Bond Debt Service 1994 TABS (72.5%) 2,139,127 2,139,281 2,135.557 2,135,997 2.118564 1998 TABS 819.520 819,520 819,520 819,520 819.520 Subtotal 2.958,647 2.958,801 2.955.077 2,955,517 2.938.084 Senior Lien Contract Services Reimbursements (Rent) 37,075 37,303 37,519 37,192 37,419 Contract Services (Co. Admin) 188.234 195,727 203.482 211,509 219,816 Contract Services (Debt Service) 32.960 33,949 34,967 36,016 46.777 Subtotal 258,269 266,978 275,968 284,717 304,011 TOTAL 9.301.493 10 546.966 10,757,684 10.979.315 11.587.617 Net Revenues After Senior Liens 1,355,928 529,712 752,925 980,412 836,948 Junior Lien Expenditures Other Reimbursements 560.020 524.914 568.529 576,873 662,622 Other Contract Services 308.491 395,393 379,674 333.923 352.627 Miscellaneous (Pers/rraveVDues) 17.957 18,496 19,051 19.622 27,936 TOTAL 686.468 938,803 967,254 930.418 1,043. 185 Planning 8 Development Reimbursements 597.095 562,217 606,048 614,065 700.041 Contract Services 529.685 625,069 618,123 581,448 619,220 Miscellaneous 17. 957 18,496 19.051 19,622 27.936 Subtotal 1,144, 737 1.205, 781 1,243,222 1,215,135 1, 347.197 Other Senior Lien Obligations ERAF Loan Repayment 916,740 Subtotal - - - - 916.740 TOTAL 10 187 961 11, 485.769 1 1, 724, 938 1 1.909, 733 13, 547. 542 Capital Improvement Program Traffic Signal: Tampicc/Eisenhower 8 FW - 75,000 - - Phase VI -A Village Commercial 274.300 274,300 - - - Phase VI-8 Cove Area 950,208 950,208 - - Calle Rondo Channel Storm Drain 130,000 - - - - Village Development 500,000 - - - - Cove Oasislake Cahudla 199.668 - - - - WashingtorVl-10 Interchange 50,000 - - - - Ave. 52 Median Landscaping 57,000 - - - - Sinaloa Median Landscaping 93,773 Calle Tampico Median Landscaping 210 728 - - - TOTAL 2,465677 1,299, 508 - Net Cash Flows (1.996,217) (1,708.598) (214,329) 49.994 (1.122.978) Ending Cash Balance 6.034,817 4,320.020 4,031269 3.997.881 3,707, 081 Notes: ' Assumes 4 % secured growth in 1999-00 and 3.5% thereafter, no growth in unsecured or utility values, and F j $100,000 annually in unitary and supplemental revenues V , La Quinta Redevelopment Agency Project No. 1 July 1999 10 Second Five -Year Implementation Plan 016 NONVHOUSING PROGRAMS - Project No. 1 The Agency expended a total of $1,059,552 on capital improvement and economic development projects in Project Area No. 1 during the five-year cycle between fiscal year 1994-95 and 1998-99. These activities successfully alleviated some of the inadequate public infrastructure and achieved some of the Agency's goals to eliminate blight and remove impediments to development. Completed Protects The Agency's first implementation plan, adopted on December 6, 1994, contained the following two nonhousing projects for the five-year cycle. • The Phase V Cove Improvements (completed in 1994-95) • The Two Village Shopping Center traffic signals (completed in 1996-97) The cost of the projects totaled $407,172. Although not explicitly included in the Implementation Plan, the Agency also funded three other capital improvements in fiscal years 1994-95 and 1996-97. These projects included the following improvements at the following locations: • Calle Tampico • The Washington Street bridge The intersection of Eisenhower Street and Avenue 50 The total combined cost of the above projects was $642,317. The Agency also completed a number of other projects from July 1997 through June 1999, including the following: • Phase VI -A Village Commercial capital improvements • Phase VI-B Cove Area capital improvements • Calle Rondo Channel storm drain improvements. • Cove Oasis/Lake Cahuilla capital improvements The total expenditure for the activities itemized above were $10,063. Other Noteworthy Activities As a part of the City's overall economic development program, the Agency prepared an Economic Development Strategic Plan to guide the management of Agency (and non - Agency) resources in the City (including Project Area No. 1). The Economic Development Plan features specific implementation strategies and tasks to stimulate investment and growth in the Village. The Economic Development Strategic Plan was adopted during fiscal year 1996-97 and was updated in each subsequent fiscal year. 6 � 5- La Quinta Redevelopment Agency Project No. 1 July 1999 11 Second Five -Year Implementation Plan - 017 NONHOUSING PROGRAMS - Project No. 1 Other noteworthy activities include the adoption of the Redevelopment Plan Amendment for Project No. 1 in fiscal year 1994-95 and the. refunding of the 1989 and 1990 Tax Allocation Bonds by the 1994 Tax Allocation Refunding Bonds. These refundings secured lower interest costs and debt service savings. Future Implementation Activities Nonhousing programs and projects for the coming five-year cycle are presented on the following pages. Many of the proposed projects include public infrastructure improvements. In addition, the Agency will pursue an Economic/Community Development Program that stimulates private development. The Agency's intent is to enhance the economic viability of the Project Area, address blight, and provide needed public facilities for the community. Ulu La Quinta Redevelopment Agency Project No. 1 July 1999 12 Second Five -Year Implementation Plan 018 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Phase VI Village Commercial capital improvements. FIVE-YEAR PLAN ACTIVITIES The Agency will complete the funding of this project in fiscal year 2000-01. EXPENDITURES The Agency expended $1,147 in fiscal year 1998-99 towards this project. The remaining cost of this project is $548,600 and will be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded in fiscal year 1999-00 and 2000-01. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities C �1 i La Quinta Redevelopment Agency Project No. 1 July 1999 13 Second Five -Year Implementation Plan 019 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Phase VI-B Cove Area capital improvements. FIVE-YEAR PLAN ACTIVITIES The Agency will complete the funding of this project in fiscal year 2000-01. EXPENDITURES The Agency expended $8,584 in fiscal year 1998-99. The remaining cost of this project is $1,900,416 and will be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded in fiscal year 1999-00 and 2000-01. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities 0 � ;3 La Quinta Redevelopment Agency Project No. 1 July 1999 14 Second Five -Year Implementation Plan 0?0 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Calle Rondo Channel storm drain improvements. FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 1999-00. EXPENDITURES The total cost of this project is $130,000 increment revenues from Project No. 1. TIMELINE and will be funded from nonhousing tax This project will be funded in fiscal year 1999-00. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. Ina --equate Public Infrastructure/Facilities 693 La Quinta Redevelopment Agency Project No. 1 July 1999 15 Second Five -Year Implementation Plan 021 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Cove Oasis/Lake Cahuilla capital improvements. FIVE-YEAR PLAN ACTIVITIES The Agency will complete the funding of this project in fiscal year 1999-00. EXPENDITURES The Agency expended $332 in fiscal year 1998-99. The remaining cost of this project is $199,668 and will be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded in fiscal year 1999-00. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. Inadequate Public Infrastr ;cture/Facilities La Quinta Redevelopment Agency Project No. 1 July 1999 16 Second Five -Year Implementation Plan 022 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Construction of a traffic signal at Tampico and Eisenhower. FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 2000-01. EXPENDITURES The total cost of this project is approximately $75,000 and will be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded in fiscal year 2000-01. PLAN OBJECTIVES THE PROJECT WILL ADDRESS I Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS I Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities La Quinta Redevelopment Agency Project No. 1 July 1999 17 Second Five -Year Implementation Plan 023 NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Improvements to the Washington and the Interstate 10 Freeway interchange. FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 1999-00. EXPENDITURES The total cost of this project is approximately $50,000 and will be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded in fiscal year 2000-01. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives; which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities 161 La Quinta Redevelopment Agency Project No. 1 July 1999 18 Second Five -Year Implementation Plan 024 NONHOUSING PROGRAMS — Project No. 1 PROGRAM/PROJECT Avenue 52 median landscaping. FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 1999-00. EXPENDITURES The total cost of this project is approximately $57,000 and will be funded from nonhousing tax increment. TIMELINE This project will be funded in fiscal year 1999-00. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. Inadequate Public Infrastructure/Facilities 103 La Quinta Redevelopment Agency Project No. 1 July 1999 19 Second Five -Year Implementation Plan 0n 0, NONHOUSING PROGRAMS - Project No. 1 PROGRAM/PROJECT Sinaloa median landscaping. FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 1999-00. EXPENDITURES The total cost of the project is approximately $93,773 and will be funded from nonhousing tax increment. TIMELINE This project will be funded in fiscal year 1999-00. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities 104 La Quinta Redevelopment Agency Project No. 1 July 1999 20 Second Five -Year Implementation Plan 01)0 NONHOUSING PROGRAMS — Project No. 1 PROGRAM/PROJECT Calle Tampico median landscaping. [FIVE-YEAR PLAN ACTIVITIES The Agency will fund this project in fiscal year 1999-00. EXPENDITURES The total cost of this project is $210,728 and will be funded with nonhousing tax increment. TIMELINE This project will be funded in fiscal year 1999-00. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: Improve Facilities/Infrastructure CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. Inadequate Public Infrastructure/Facilities La Quinta Redevelopment Agency Project No. 1 July 1999 21 Second Five -Year Implementation Plan U47 NORHOUSING PROGRAMS — Project No. 1 PROGRAM/PROJECT Economic/Community Development Program FIVE-YEAR PLAN ACTIVITIES The Agency will prioritize various economic development, public improvement, and public facility projects and will fund this program in fiscal year 1999-00 through 2003-04, as funding is available. These projects may include: • Modify Cove storm water basin to accommodate a municipal golf course • Develop new parks • Improve Lake Cahuilla and develop additional recreation amenities • Purchase and renovate Francis Hack Park • Construct a new library facility • Civic Center campus improvements • New fire facilities • Enlarge senior citizen center • Develop additional trail and golf cart systems Underground utilities • Street and median improvements • Village commercial property rehabilitation and infrastructure improvements New postal facility La Quinta Resort and Club renovation/expansion KSL Village development • Hillside protection property purchase • Provide additional needed public facilities EXPENDITURES The total projected revenues for this program is $3.7 million, and will likely be funded from nonhousing tax increment revenues from Project No. 1. TIMELINE This project will be funded between in fiscal year 1999-00 and 2003-04. lU0- La Quinta Redevelopment Agency Project No. 1 July 1999 22 Second Five -Year Implementation Plan - 01)8 NONHOUSING PROGRAMS - Project No. 1 PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this program will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Implementation Plan: • Eliminate Blight • Expand Commercial Base • Improve Facilities/Infrastructure • Promote Job Growth • Improve Utility Service CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Completion _of this project will address the following condition of blight; the Blighting Conditions section in this Implementation Plan further describes the characteristics of blighting conditions. • Inadequate Public Infrastructure/Facilities • Lack of Commercial Facilities 1617 La Quinta Redevelopment Agency Project No. 1 July 1999 23 Second Five -Year Implementation Plan 0 0" 9 PART 2 PROJECT -NO. 2 NONHOUSING 106 La Quinta Redevelopment Agency Project No. 2 July 1999 24 Second Five -Year Implementation Plan 030 GOALS AND OBJECTIVES - Project No. 2 Section 400 of the Redevelopment Plan for Project No. 2 delineates the Agency's redevelopment goals for the Project Area. These goals, which are listed below, were employed to formulate the overall strategy for this Implementation Plan and will serve as a guide for the Agency's activities during the next five years. • Eliminate Blight: Remedy, remove, and prevent physical blight and economic obsolescence in the Project Area through implementation of the Plan. • Diversify Economic Base: Expand the commercial base of the community. • Encourage Stakeholder Participation: Encourage the cooperation and participation of residents, businesses, business persons, public agencies, and community organizations in the redevelopment/revitalization of the Project Area. • Upgrade Urban Design Standards: Upgrade the general aesthetics of the commercial enterprises to improve their economic viability. • Expansion of Businesses: Provide for the expansion, renovation, and relocation of businesses within the Project Area to enhance their economic viability; whenever possible, give preferences to business concerns either located within or owned by persons residing in the Project Area, pursuant to Resolution No. RA93-12. • Invest in Infrastructure: Improve and/or provide electric, gas, telephone, water, and wastewater facilities to both developed and subdivided undeveloped properties within the Project Area. • Expand Developable Land: Recycle and/or develop underutilized parcels to accommodate higher and better economic uses, improving the financial viability of the City. • Improve Traffic Circulation: Address inadequate street improvements and roads that vary in width and degree of improvement as they cross the Project Area. • Correct Drainage System Deficiencies: Alleviate inadequate drainage improvements that constrain the development if various parcels in the Project Area, the cost of which cannot be borne by private enterprise acting alone. • Assemble and Consolidate Underutilized Land: Address parcels of property that are inadequately sized for proper usefulness and development and which are held in divided and widely scattered ownerships. • Remedy Values: Remedy depreciating property values and impaired investments. 103 La Quinta Redevelopment Agency Project No. 2 July 1999 25 Second Five -Year Implementation Plan - 031 GOALS AND OBJECTIVES - Project No. 2 Provide for Economic Growth: Provide opportunities and mechanisms to increase sales tax, business license tax, and other revenues to the City. • Increase and Improve the Community's Supply of Affordable Housing. Provide for low and moderate income housing opportunities as is required to satisfy the needs and desires of various age and income groups of the community, maximizing the opportunity for individual choice, and meeting the requirements of State law. 110 La Quinta Redevelopment Agency Project No. 2 July 1999 26 Five -Year Implementation Plan 032 BLIGHTING CONDITIONS -- Project No. 2 Sections 33030 and 33031 of the Law define physical and economic blight as- Unsafe/Dilapidated/Deteriorated Buildings. Buildings in which it is unsafe or unhealthy for persons to live or work. These conditions can be caused by serious building code violations, dilapidation and deterioration, defective design or physical construction, faulty or inadequate utilities, or other similar factors. • Physical Conditions that Limit the Economic Viability and Use of Lots/Buildings. Factors that prevent or substantially hinder the economically viable use or capacity of buildings or lots. This condition can be caused by a substandard design, inadequate size given present standards and market conditions, lack of parking, or other similar factors. • Incompatible Uses. Adjacent or nearby uses that are incompatible with each other- and which prevent the economic development of those parcels or other portions of the project area. • Lots of Irregular Shape, Inadequate Size, and Under Multiple Ownership. The existence of subdivided lots of irregular form and shape and inadequate size for proper usefulness and development that are in multiple ownership. • Inadequate Public Infrastructure/Facilities. The existence of inadequate public improvements, parking facilities, open space, or utilities.' • Depreciated/Stagnant Property Values; Impaired Investments. Depreciated or stagnant property values or impaired investments, including, but not necessarily limited to, those properties containing hazardous wastes that require the use of agency authority as specified in Article 12.5 (commencing with Section 33459). • High Business Turnovers and Vacancies/Low Lease Rates/Abandoned Buildings/Vacant Lots. Abnormally high business vacancies, abnormally low lease rates, high turnover rates, abandoned buildings, or excessive vacant lots within an area developed for urban use and served by utilities. • Lack of Commercial Facilities. A lack of necessary commercial facilities that are normally found in neighborhoods, including grocery stores, drug stores, banks, and other lending institutions. 'At the time Project No. 2 was adopted, Section 33032 of the Law (which was repealed in 1994) provided that a blighted area was one which was characterized by, among other things: The existence of inadequate public improvements, public facilities, open spaces, and utilities which cannot be remedied by private or governmental action without redevelopment. A blighted area is currently defined as one that exhibits both physical and economic blight, and is characterized by the existence of inadequate public improvements, parking facilities, or both. 111 La Quinta Redevelopment Agency Project No. 2 July 1999 27 Second Five -Year Implementation Plan 033 BLIGHTING CONDITIONS - Project No. 2 • Residential Overcrowding/Excess Bars, Liquor Stores, Adult Businesses. Residential overcrowding or an excess of bars, liquor stores, or other businesses that cater exclusively to adults, that has led to problems of public safety and welfare. • High Crime Rates. A high crime rate that constitutes a serious threat to the public safety and welfare. The specific programs and projects contained in this Implementation Plan are designed to eliminate the conditions of blight which existed at the time Project No. 2 was adopted and which persist despite the Agency's best efforts to eliminate such conditions. As will be illustrated in the following discussion, the blight, as that term is currently defined, will also be eliminated. Project Area No. 2 suffers from economic dislocation and stagnating development despite the availability of large parcels of vacant land. These problems were brought on by a lack of effective flood control facilities, underdeveloped circulation systems and poorly configured lots that discourage private sector investment. The Redevelopment Plan for Project No. 2 sets forth a comprehensive infrastructure and community development program to eliminate inadequate public improvements and economic blight. Accordingly, this Implementation Plan incorporates these objectives, projects, and programs to address blight in Project Area No. 2. 1�2 La Quinta Redevelopment Agency Project No. 2 July 1999 28 Second Five -Year Implementation Plan 0%34 FINANCIAL RESOURCES - Project No. 2 The table on the following page presents the nonhousing revenues the Agency may have available over the next five (5) years to fund Implementation Plan activities in Project Area No. 2. The projections are based on a 7.5% increase in secured value in 1999-00, a 5% increase in 2000-01, a 4% increase in 2001-02, and a 3.5% annual increase in secured assessed values thereafter. No increases were assumed for unsecured and utility values. Outlined in the tables are projected tax increment receipts, taxing entity's fiscal mitigation payments, debt service payments, and projected Agency administration costs. Funds available to implement future programs are indicated as the remaining funds net of these operation and debt service obligations. The table also identifies available fund balances as of May 31, 1999. 11_ 3 La Quinta Redevelopment Agency Project No. 2 July 1999 29 Second Five -Year Implementation Plan - 035 FINANCIAL RESOURCES - Project No. 2 Project Area No. 2 - Debt Service/Capital Projects Funds 1 2 3 4 5 1999-00 2000-01 2001-02 2002-03 2003-04 Beginning Fund Balance Per 1199 Cash Flow Estimates 2,593,996 2,013,996 399,584 419.585 439,585 Due to PA2 Housing Fund (ER4F) (55,514) (58,845) (62,375) (66,118) - Resthcted Sept Payment on 98 TABS (251,004) (249,504) (252,964) (256.285) (254,463) Beginning Available Cash Balance Revenues Gross Nonhousing Tax Increment Interest TOTAL Senior Lien Expenditures Pass Through Payments Coachella Valley Water District Mosquito Abatement District Desert Sands USD Coachella Valley Rec & Park Co. Superintendent of Schools Desert Community College Riverside County Pass Through Riverside County Repayment Subtotal Nonhousing Bond Debt Service 1998 TABS City Loan Repayment Subtotal Planning & Development Reimbursements Contract Services Miscellaneous Subtotal Other Senior Lien Obligations ERAF Loan Payment Subtotal TOTAL Capital Improvement Program Utility Undergrounding - Parc LQ Hwy 111/Plaza LQ Signal Phase VI-C Westward Ho Economic Development Phase VI-D Sgbrsh, Bttlbsh, Saqro 2,287,479 1,705,648 84,245 97,182 185,123 4,247,033 4,486,935 4,688,453 4,871.834 5,061,634 20,000 20,000 20,000 20,000 20,000 4,267,033 4,506,935 4,708,453 4,891,834 5,081,634 407,184 430,185 449,505 467,087 485,284 74,854 79.082 82,634 85,866 89,211 986,373 1,042,091 1,088, 893 1,131,484 1,175, 564 - - - 31,840 134,766 110,954 117,221 122,486 127,277 132,235 204,919 216,495 226,218 235,066 244,224 1,688,036 1,926,578 2,013,105 2,091.844 2,173,339 - - 100,000 100,000 100,000 3,472,321 3,811,652 4.082,841 4,270,463 4,534,624 420,507 417,467 419,249 420,747 417,080 420,507 417,467 419,249 420,747 417.080 175.046 173,076 98,053 89,010 34,419 172,295 77,672 81,028 84.114 77,627 6,864 7,070 7,282 7,500 - 354,205 257,817 186,363 180,624 112,045 70,085 70,085 4,247,033 4,486,936 4,688,453 4,871,834 5,133,834 - 913,509 600,000 - - 720,902 TOTAL 600,000 1,634,411 - - Net Cash Flows (580,000) (1,614,411) 20,000 20,000 (52,200) Ending Cash Balance 1,707,478 91,236 104,246 117.182 132,922 Notes: ) Assumes 7.5% secured growth in 1999-00, 5% in 2000-01, 4% in 2001-02, and 3.5% thereafter; no growth j in unsecured or utility values, and S200,000 annually in unitary and supplemental revenues La Quinta Redevelopment Agency Project No. 2 July 1999 30 Second Five -Year Implementation Plan v 11JU NO-NHOUSING PROGRAMS — Project No. 2 The following pages identify the Agency's proposed nonhousing activities for the five-year cycle of the Implementation Plan. Between 1994-95 and 1998-99, the Agency expended a total of $3,349,396 on nonhousing projects in Project Area No. 2. By completing these projects, the Agency accomplished important redevelopment objectives, including: 1) eliminating blight, 2) diversifying the economic base, 3) encouraging stakeholder participation, 4) upgrading urban design standards, 5) investing in infrastructure, and 6) improving traffic conditions. Completed Projects Between fiscal years 1994-95 and 1998-99, the Agency completed all of the planned redevelopment projects and programs set forth in the original implementation plan. These projects include capital improvements involving Adams Street, Washington Street, Dune Palms Road, and Fred Waring Drive. In addition, the Agency completed infrastructure improvements along Highway 111 as a part of the development of the One Eleven La Quinta center (pursuant to the TDC Owner Participation Agreement). By March 1998, the Agency expended a total of $2,254,989 on these projects, or $333,674 less than the cost estimates contained in the original implementation plan. In large part, this cost savings was realized as a result of successfully procuring grants to subsidize some capital improvement costs. In addition to these projects above, the Agency expended another $535,262 on capital improvement and economic development projects in Project Area No. 2. These activities included the widening of Washington Street, assistance to the Interstate 10/Washington Street interchange, and Plaza La Quinta off -site improvements. All of these improvements were completed by March 1998. Between April 1998 and June 1999, the Agency also completed or partially funded the following projects: • Additional Plaza La Quinta street improvements (completed) • Utility underground at Parq La Quinta (completed) • A traffic signal at Westward Ho/Dune Palms Drive (completed) • Phase VI-C Westward Ho capital improvements (partially funded) • A traffic signal at Highway 111 and Plaza La Quinta (completed) • Phase VI-D Sagebrush, Bottlebrush, and Saquaro capital improvements (partially funded) 11J La Quinta Redevelopment Agency Project No. 2 July 1999 31 Second Five -Year Implementation Plan n 3 r NONHOUSING - Project No. 2 Other Noteworthy Activities In 1998, the Agency refunded Project No. 2 1992 Tax Allocation Bonds to capitalize on lower interest rates. Also, the Agency adopted, and continues to implement, the Economic Development Strategic Plan for the purposes of managing future economic development activities in the Project Area No. 2 and the greater City. The Economic Development Plan features a focused program for the Highway 111 Corridor, which has been essential to the recent successes. Future Implementation Activities The Agency has budgeted a total of $600,000 to fund an Economic/Community Development Program over the next five years, which represents a majority of Project Area No. 2 nonhousing resources. These expenditures are projected to occur between fiscal years 1999-00 and 2003-04. The Agency envisions dedicating these funds to projects that both improve the economic viability of the community while addressing the conditions of blight in Project Area No. 2, such as: • Business development loans/grants • Highway 111 improvements • Property acquisition to facilitate economic development • Facilitate hotel/motel development • New parks • New library • New postal facility • Landscape medians • Monument entry signs • Line Whitewater Channel • Improve the La Quinta Arts Foundation facility • Improve the La Quinta Evacuation Channel with golf and other recreation amenities • Underground utilities The Agency will fund projects as revenues are available. The Agency anticipates seeking other financing mechanisms to fund projects under this program. If the Agency is again successful in procuring other resources to fund redevelopment activities, additional projects will be formulated for Agency consideration in the future. ll La Quinta Redevelopment Agency Project No. 2 July 1999 32 Second Five -Year Implementation Plan NONHOUSING — Project No. 2 Specifically, the implementation of this program will address the following Agency goals and objectives: • Eliminate Blight • Diversify Economic Base • Expansion of Businesses • Invest in Infrastructure • Improve Traffic Circulation • Provide for Economic Growth The blighting conditions to be addressed by this program include: • Economic Dislocation/Stagnating Development • Inadequate Public Improvements 117 La Quinta Redevelopment Agency Project No. 2 July 1999 33 Second Five -Year Implementation Plan - 0009 PART 3 PROJECT NO. 1 AND 2 HOUSING 113 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 34 Second Five -Year Implementation Plan 040 HOUSING PROGRAMS The Agency has successfully completed all of the planned housing projects and programs set forth in the original implementation plan, due in large part to the issuance of the 1995 $22.4 million Housing Tax Allocation Bonds. Completed Projects During the current five-year cycle, the Agency has produced 205 affordable units through six affordable housing projects as a part of its affordable housing production program. These projects include the Coachella Valley Housing Coalition Project (10 affordable units), the Stockman Development Project (15 units), the Williams Development/Seasons Project (111 units), the La Quinta Rental Housing Program (50 units), the Building Horizons Project (8 units), and the La Quinta Housing/Silent Second Program (44 units, 11 of which have been counted towards the Agency's housing production requirements). Of the 205 units produced, 162 are restricted to very low income households, while the remaining 43 units are reserved for low and moderate income households. In total, the Agency expended approximately $5.6 million to produce these 205 units. In addition to these units produced by Agency -assisted projects, another 116 affordable dwelling units were produced by the Villa Cortina tax credit project in 1996-97. Coupled with the 205 units produced through Agency -assisted projects, a total of 321 dwelling units have been produced during the current five-year cycle. These 321 units represent approximately 36% of the 892 units required to be produced pursuant to the Ten -Year Compliance Plan. Other Noteworthy Activities Other housing production activities initiated during the past five years include public improvement and infrastructure projects for the Catellus development of 204 low and moderate income units (Avenue 48 and Jefferson Street), the RGC development consisting of 99 units, 65 of which will be made affordable to moderate income families (Avenue 48 and Adams Street) and the affordable housing site located at Miles and Washington Street. In 1995, the Agency also purchased approximately 105 acres of property for a potential affordable housing project. Finally, ongoing housing activities include the 1998 Residential Rehabilitation Program that has funded $13,809 in improvements to single-family and small multifamily dwellings. The program is available to very low, low and moderate income households; since 1998, 2 loans have been granted and 3 are currently pending. Another active housing program is the Dilapidated Unit Refurbishment Program, which involves Agency purchases of dilapidated single-family homes for rehabilitation and subsequent sale to low income households. Since 1998, two homes have been purchased, one has been demolished, and proposals are being solicited to construct a replacement dwelling. The second unit is undergoing rehabilitation. Program costs over the last five years total $129,032. The Agency also continues to implement the Assessment Subsidy Program, which subsidizes 11J La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 35 Second Five -Year Implementation Plan 041 HOUSING PROGRAMS assessment payments and sewer connection costs for eligible low and moderate income households in the Cove. Between 1994-95 and 1998-99, the Agency funded 250 sewer subsidies at a total cost of $906,104. Future Implementation Activities The Agency will continue to implement its comprehensive affordable housing program over the remainder of the five-year cycle. In addition, the Agency will pursue several projects that will result in the production of very low, low and moderate income units to address the deficit shown in the Second Ten -Year Housing Compliance Plan (Appendix I to this Implementation Plan). In the event that actual revenues and expenditures differ from these estimates, or additional projects are proposed, the Agency's housing program may be altered in accordance with the Housing Affordability Compliance Plan. The following pages describe the programs and projects proposed by the Agency. 1:' 1) La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 36 Second Five -Year Implementation Plan 042 HOUSING PROGRAMS AVENUE 48 AND JEFFERSON PROJECT The Agency has successfully negotiated a development transaction with Catellus Development to construct a 204-unit affordable housing project at the northeast corner of Avenue 48 and Jefferson Street. The project will consist of 118 very low and low income senior apartments and 86 moderate income single-family units. FIVE-YEAR PLAN ACTIVITIES Construction began in 1999, with completion anticipated in 2001. EXPENDITURES Proposed_ assistance to this project over the next five years is estimated at $5,195,808. TIME As stated above, the single-family dwellings and associated infrastructure improvements are currently under construction. The estimated completion of this project is fiscal year 2001-02. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • Inadequate Public Infrastructure/Facilities 12.E La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 37 Second Five -Year Implementation Plan - (1,43 HOUSING PROGRAMS WASHINGTON AND MILES PROJECT The Agency purchased a 55-acre parcel at the southwest corner of Washington Street and Miles Avenue for future affordable housing development. The construction of several off -site public improvements began in 1998 and community planning efforts began in 1999. Preliminary estimates indicate that up to 106 units of housing could be built on this site. FIVE-YEAR PLAN ACTIVITIES Over the five-year cycle, the Agency will complete the off -site improvements and community planning activities and will implement the development of the project. EXPENDITURES A total of $800,000 is anticipated will be expended on site development activities over the next five years. TIMELINE .J The Agency will complete the public improvements, community planning efforts and site marketing activities in 1999-2000; private sector interest in this site will establish the development program timeline. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objective which is defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Inadequate public infrastructure/facilities. La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 38 Second Five -Year Implementation Plan - 044 HOUSING PROGRAMS AVENUE 48 AND ADAMS PROJECT (RGC PROPOSAL) The Agency owns a 50-acre parcel at the northeast corner of Avenue 48 and Adams Street and is currently in discussion with the RecreActions Group of Companies (RGC) to develop approximately 36 acres of this property. FIVE-YEAR PLAN ACTIVITIES Avenue 48 was constructed in 1997-98, providing access to this parcel. Over the five-year cycle, the Agency will conclude negotiations with RGC. This project will include the construction of 99 single-family homes on approximately 36 acres. Sixty- five of these homes will be affordable to moderate income households. EXPENDITURES A total of $1,500,000 is anticipated to be expended on project activities in 1999-00. TIMELINE The agreement with RGC will be complete by October 1999. Construction is anticipated to begin in Spring 2000 and the homes should be sold over a 36-month period, dependent on market demand. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objective, which is defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • Inadequate public infrastructure/facilities. 123 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 39 Second Five -Year Implementation Plan - (1049, HOUSING PROGRAMS AVENUE 48 AND ADAMS PROJECT (A.G. SPANOS PROPOSAL) The Agency has concluded negotiations with A. G. Spanos for the development of a 200-unit apartment complex on a 14.4 acres of the 50 acre Avenue 48 and Adams Street site. Twenty of these units will be affordable to moderate income households. FIVE-YEAR PLAN ACTIVITIES The units are expected to be constructed during fiscal year 1999-00. EXPENDITURES The estimated five-year expenditures for this project is $300,000. TIMELINE To be determined. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objective which is defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • Not applicable. 124 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 40 Second Five -Year Implementation r,16 � l) HORSING PROGRAMS VILLAGE LIVENVORK HOUSING1 This program will involve the construction of a mixed -use development of commercial and affordable residential units in the Village. The housing units may consist of lofts, and may be affordable to low and very low income households. FIVE-YEAR PLAN ACTIVITIES The program is currently in the planning stages. It is envisioned that the identification of potential sites and the affordability mix of the units will be determined and between 1999-00 and 2001-02, as sites can be identified. EXPENDITURES Project costs are estimated at $2,000,000; $1,000,000 in 2000-01 and $1,000,000 in 2001-02. TIMELINE Planning activities will continue through 1999-00, with improvements and/or construction beginning in 2000-01. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objective, which is defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • In2 aequate Public Infrastructure/Facilities. 125 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 41 Second Five -Year Implementation Plan C47 HOUSING PROGRAMS BUILDING HORIZONS PROJECT For the past four years, the Agency and the Boys and Girls Club have cooperated in the construction of eight low and moderate income units in the Cove. This program, which involves Agency silent second subsidies, will continue over the next five-year term at a rate of two units per year. FIVE-YEAR PLAN ACTIVITIES This project will result in ten low and/or moderate income units developed between 1999-00 and 2003-04. EXPENDITURES The Agency advances construction costs of $105,000 per unit, and converts up to $30,000 into a second trust deed upon the sale of each unit. TIMELINE This project will continue over the five-year cycle. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objective, which is defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • Not applicable. 120 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 42 Second Five -Year Implementation Plan - 048 HOUSING PROGRAMS ASSESSMENT SUBSIDY PROGRAM This ongoing program assists eligible very low, low and moderate income households with special assessments levied by the City to fund a comprehensive street improvement program, including sewer line installation in the Cove. The Agency subsidizes property owner assessment payments and sewer connection costs. FIVE-YEAR PLAN ACTIVITIES The Agency will continue to provide additional subsidies to eligible owner and renter households, and administer and monitor this program. EXPENDITIfRES Based on historical trends, this program costs approximately $220,000 annually to subsidize and administer. TIMELINE This is an ongoing program predicated on the availability of funds. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Plan: • Eliminate Blight • Increase and Improve the Community's Supply of Affordable Housing I CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Not applicable. 0 ,� 41i La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 43 Second Five -Year Implementation Plan - ()49 HOUSING PROGRAMS LA QUINTA RENTAL HOUSING PROGRAM In 1995, the Agency purchased 50 units from Coachella Valley Land to secure the Agency's $1.2 million investment. This investment was made to reserve 50 single- family units for very low income Section 8 households. Subsequent to the investment, Coachella Valley Land filed for bankruptcy. The Agency subsequently sold 1 unit and continues to rent the remaining 49 to very low income households. As real estate market conditions continue to improve in the Cove, the Agency will sell the remaining 49 units to qualified very low income households. Currently, the Agency has initiated rehabilitation efforts for these units which will result in the substantial rehabilitation of the homes prior to their sale. FIVE-YEAR PLAN ACTIVITIES The Agency will continue to rent the units until they are sold. The Agency will be funding deferred maintenance improvements and anticipates selling two units per year. EXPENDITURES Annual management and maintenance costs are expected to be $260,000 annually. This cost is funded solely with excess rental income. No tax increment revenues are expected to be utilized for this program. TIMELINE This is an ongoing program that will continue through the five-year cycle. � PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives, which are defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing • Rehabilitate Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS Not applicable. 1 12 3 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 44 Second Five -Year Implementation Plan - (i5() HOUSING PROGRAMS LA QUINTA HOUSING PROGRAM Pursuant to its housing initiative, the Agency plans to move forward on the three components of the La Quinta Housing Program. The Silent Second Trust Deed program provides subsidies to prospective homebuyers. The Residential Rehabilitation Program involves providing up to $25,000 in rehabilitation loan assistance to qualified households. The Dilapidated Unit Refurbishment Program involves the purchase, rehabilitation, and resale of deteriorating residences. All components of the Housing Program feature long-term affordable covenants. FIVE-YEAR PLAN ACTIVITIES Depending on program participation, staff estimates that on an annual basis, 15 households could receive silent second trust deeds, about 4 households per year could benefit from the Residential Rehabilitation Program, and up to 2 households per year could participate in the Dilapidated Unit Refurbishment Program. EXPENDITURES A total of $1,000,000 is budgeted each year for this program. Of this amount, $650,000 is set aside for the Silent Second Trust Deed program. The Agency appropriated $100,000 for loans for the Residential Rehabilitation Program. Also, the Agency anticipates that up to $250,000 will be expended on rehabilitation/subsidy costs for the Dilapidated Unit Refurbishment Program. TIMELINE The Agency will carry out these activities during the remaining five-year term. PLAN OBJECTIVES THE PROJECT WILL ADDRESS Completion of this project will achieve the following objectives which are defined in detail in the Goals and Objectives section of this Plan: • Increase and Improve the Community's Supply of Affordable Housing • Rehabilitate Housing CONDITIONS OF BLIGHT THE PROJECT WILL ADDRESS • Unsafe/Dilapidated/Deteriorated Buildings La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 45 Second Five -Year Implementation Plan 051 FINANCIAL RESOURCES The following tables present the housing revenues the Agency may have available over the next five (5) years to fund Implementation Plan activities in Project Areas Nos. 1 and 2. in Project Area No. 1, the projections assume a 4% growth in secured value in 1999-00 and a 3.5% increase in secured value thereafter. In Project Area No. 2, secured value is projected to increase by 7.5% in 1999-00, 5% in 2000-01, 4% in 2001-02, and a 3.5% thereafter. It is conservatively assumed that there will be no growth in unsecured or utility values in either Project Area No. 1 or No. 2. Outlined in the tables are projected tax increment receipts, debt service payments, costs for ongoing housing projects, and projected Agency administration costs. Funds available to implement future programs are indicated as the remaining funds net of these operation and debt service obligations. The table also identifies available fund balances as of May 31, 1999. The total resources available to the Agency, net of expenditures, to implement housing projects over the five- year period for Project Area Nos. 1 and 2 (1999-00 through 2003-04) is estimated to be $15,961,227 and $2,311,902, respectively. La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 46 Second Five -Year Implementation Plal� 11 9 FINANCIAL RESOURCES PROJECT NO. 1 Project Area No. 1 - Housing Fund Beginning Fund Balance Per 1/99 Cash Flow Estimates Restricted: Sept Payment on 94 TABS Restricted. Sept Payment on 95 TABS Restricted: 1/2 Total P/D Beginning Available Cash Balance Revenues Tax Increment Interest Rental Program Home Sales Proceeds ERAF Loan Repayment TOTAL Senior Lien Expenditures Housing Bond Debt Service 1994 TABS (18.5%) 1995 TABS Subtotal Planning & Development Reimbursements Contract Services Miscellaneous Subtotal TOTAL Housing Program Costs Assessment Subsidy Rental Program Housing Program Building Horizons Miraflores/Catellus RGC Adams/Avenue 48 Housing Village Live/Work Housing MileslWashington Housing TOTAL Net Cash Flows 1 2 3 4 5 1999-00 2000-01 2001-02 2002-03 2003-04 5,731,760 4,026,600 2,199,926 1,228,927 1,393,754 (345,581) (350,888) (355,791) (362,068) (367,915) (763,605) (769,592) (775,112) (784,158) (788,598) (174,984) (163,282) (165,698) (183,036) (177,535) 4,447,590 2,742,839 903,326 (100,334) 59,706 2,633,105 2,737,920 2,846,402 2,958,682 3,074,891 200,000 200,000 200,000 200,000 200,000 341,000 341,000 341,000 341,000 341,000 150,000 150,000 150,000 - - - - - - 916,740 3,324,105 3,428,920 3,537,402 3,499,682 4,532,632 485,569 485,604 484,758 484,858 480,901 1,253, 728 1,253,427 1,252,248 1,253,925 1.250,554 1,739,297 1,739,031 1,737,006 1,738,783 1,731,455 259,989 238,608 240,474 242,081 242,907 77,637 75,242 77,827 110,503 98,272 12,342 12,713 13,094 13,487 13,892 349,968 326,563 331,396 366,071 355,071 2,089,265 2,065,594 2,068,402 2,104,854 2,086,526 220,000 220,000 220,000 220,000 220,000 260,000 260,000 260,000 260,000 260,000 750,000 750,000 750,000 750,000 750,000 210,000 210,000 210,000 - - 1,500,000 - - - 1,000,000 1,000,000 - 750,000 - - - 2,940,000 3,190,000 2,440,000 1,230,000 1,230,000 (1,705,160) (1,826,674) (971,000) 164,828 1,216,106 Ending Cash Balance 2,742,431 916,165 (67,674) 64,493 1,275,812 Notes: Assumes 4% secured growth in 1999-00 and 3,5% thereafter; no growth in unsecured or utility values; and $100,000 annually in unitary and supplemental revenues 131 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 47 Second Five -Year Implementation Plan 053 FINANCIAL RESOURCES PROJECT NO. 2 Project Area No. 2 - Housing Fund 1 2 3 4 5 1999-00 2000-01 2001-02 2002-03 2003-04 Beginning Fund Balance Per 1199 Cash Flow Estimates 802,056 522,756 493,406 535,225 623,696 Restricted: Sept Payment on 95 TABS (204,637) (204,637) (204,637) (204,637) (204,637) Restricted: 1/2 Payment on P & D (236,459) (266,487) (281,751) (282,021) (256,495) Beginning Available Cash Balance 360,961 51,632 7,018 48,567 162,564 Revenues Tax Increment 1,061,758 1,121,734 1,172,113 1,217,959 1,265,408 Interest 20,700 20,650 21,650 23,450 25,000 ERAF Loan Repayment - - - - 70,085 TOTAL 1,082,458 1,142,384 1,193,763 1,241,409 1,360,493 Senior Lien Expenditures Housing Bond Debt Service 1995 TABS 338,841 338,760 338,442 338,895 337,983 Planning & Development Reimbursements 365,733 423,962 453,287 452,707 420,497 Contract Services 100,730 102,364 103,369 104,283 85,229 Miscellaneous 6,454 6,648 6,847 7,052 7,264 Subtotal 472,917 532,974 563,503 564,042 512,990 TOTAL 811,758 871,734 901,945 902,937 850,973 Housing Program Costs Housing Program 250,000 250,000 250,000 250,000 250,000 Miraflores/Catellus - - - - - CIP: Ave 48 Extension CIP. Miles AvlWashington St - - Spanos Company Apartments 300,000 MileslWashington Housing - 50,000 - - TOTAL 550,000 300.000 250,000 250,000 250,000 Net Cash Flows (279,300) (29,350) 41,818 88.472 259,521 Ending Cash Balance 81,661 22,282 48,836 137,038 4?2,085 Notes: ' Assumes 7.5% secured growth in 1999-00. 5% in 2000-01, 4% in 2001-02, and 3.5% thereafter: no growth in unsecured or utility values, and $200.000 annually in unitary and supplemental revenues 13 La Quinta Redevelopment Agency Project Nos. 1 and 2 July 1999 48 Second Five -Year Implementation Plan (,54 APPENDIX "I" Housing Affordability Compliance Plan 1310-1 055 SECONDAMENDED HOUSING AFFORDABILITY COMPLIANCE PLAN (1994-95 through 2003-04) Prepared for: LA QUINTA REDEVELOPMENT AGENCY Adopted: 91999 Contact: Frank J. Spevacek, Principal Rosenow Spevacek Group, Inc. 540 North Golden Circle, Suite 305 Santa Ana, California 92705 Phone: 714.541.4585 Fax: 714.836.1748 E-Mail: RSGIncCA(Dgol.com --37- 131 (,5(i SECOND AMENDED HOUSING AFFORDABILITY COMPLIANCE PLAN This document is the Second Amended Housing Affordability Compliance Plan ("Second Compliance Plan") for the La Quinta Redevelopment Project and Redevelopment Project No. 2 of the La Quinta Redevelopment Agency ("Agency"). This Second Compliance Plan amends the Agency's preexisting housing affordability compliance plan (adopted on December 6, 1994 and subsequently amended on March 17, 1998) to update of Agency's affordable housing activities since 1994. In 1994, the Agency initiated a ten-year affordable housing effort to produce 870 inclusionary units estimated to be needed between 1994 and 2003. Since then, the Agency has produced (directly and indirectly) 321 of the 870 units. A. Legal Requirements for Compliance Plans Sections 33413(b)(4) and 33490(a)(2) and (3) of the California Community Redevelopment Law, Health and Safety Code Section 33000, et. seg. ("Law"), sets forth the requirement to prepare 'a plan that outlines how the Agency will achieve its affordable housing production objectives for a 10 year period. This Second Compliance Plan sets forth the Agency's program for ensuring that the appropriate number of very low, low, and moderate income housing units will be produced as a result of construction or substantial rehabilitation within Redevelopment Project Area No. 1 and Redevelopment Project Area No. 2 (herein referred to as the "Project Areas") for a ten-year period (fiscal years 1994-95 through 2003-04). B. Contents of the Compliance Plan This Second Compliance Plan has been developed to accomplish the following goals: • To account for the number of affordable dwelling units, either constructed or substantially rehabilitated, in both Project Areas since their respective adoptions; To assess existing needs for the production of affordable housing as a result of the construction or substantial rehabilitation of dwelling units since the Project Areas were adopted; j Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 1 Second Housing Affordability Compliance Plan - (10 5 7 • To present the estimated number of dwelling units to be privately developed or substantially rehabilitated between 1994-95 and 2003-04 and over the duration of the respective Redevelopment Plans for the Project Areas; • To forecast the estimated number of dwelling units to be developed or substantially rehabilitated by the Agency between 1994-95 and 1998-99; • To project the availability of City/Agency and other revenue sources for funding affordable housing production; • To identify implementation policies/programs and potential sites for affordable housing development; • To establish a schedule of actions for implementing this Second Compliance Plan so as to ensure that the requirements of Section 33413 between 1994-95 and 2003-04 are met during that period; and • To review the affordable housing goals, objectives, and programs contained in the 1995 City of La Quinta ("City") Housing Element ("Housing Element") to confirm this Second Compliance Plan is consistent with the Housing Element. n Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 2 Second Housing Affordability Compliance Plan C ECTION II. BACKGROUND' On November 29, 1983, the Agency adopted the Redevelopment Plan for the Project Area No. 1, establishing the Agency's .first redevelopment project area which encompasses approximately 17.5 square miles. Project Area No. 1 is located in the southern portion of the City and includes land designated for commercial, office, residential, retail, institutional, recreational, and public uses. Project Area No. 1 is bounded generally by Avenue 50 to the north, Jefferson and Madison Streets to the east, Avenue 60 to the south, and the city limit boundary on the west. At the time of its adoption, Project Area No. 1 included 2,240 dwelling units according to its Report to Council. The Agency established its second redevelopment project on May 16, 1989 with the adoption of the Redevelopment Plan for Project Area No. 2. Essentially, Project Area No. 2 encompasses the major portion of the City north of Avenue 50. Covering an area of approximately 3,116 acres, which includes residential and commercial land uses, Project Area No. 2 is significantly smaller than Project Area No. 1. Project Area No. 2 is bounded by Avenue 50 to the south, Fred Waring Drive (Avenue 44) to the north, Washington Street to the west, and Jefferson Street to the east. Also included within Project Area No. 2 are properties located west of Washington Street, north of the prolongation of the future alignment of Avenue 48; properties surrounding Point Happy north of Highway 111 and west of Washington Street, and property east of Jefferson Street and north of Highway 111. According to its Report to Council, Project Area No. 2 contained 608 dwelling units at the time of its adoption. The boundaries of both Project Area No. 1 and Project Area No. 2 are illustrated on the City map attached hereto as Exhibit 1. A. Purpose Since 1976, redevelopment agencies have been required to assure that at least thirty percent (30%) of all new or rehabilitated units developed by an agency are available at affordable costs to households of very low, low, or moderate income. Of this thirty percent (30%), not less than fifty percent (50%) is required to be a,--iilable at affordable costs to very low income (50% or below of area meuian income) households. Further, Section 33413 requires that at least fifteen percent (15%) of all new or rehabilitated dwelling units developed within a project area by entities other than a redevelopment agency be made available at affordable costs to low or moderate income households. Of this fifteen percent (15%), not less than forty percent (40%) of the dwelling units must be available at affordable costs to very low income households. These requirements are applicable to 13'" Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 3 Second Housing Affordability Compliance Plan housing units as aggregated, and not on a case -by -case basis to each dwelling unit created or rehabilitated unless so required by an agency. Section 33413(b)(4) requires agencies to adopt a compliance plan to meet the above production requirements for each project area. The compliance plan must be consistent with the jurisdiction's housing element and must also be reviewed and, if necessary, amended at least every five (5) years in conjunction with the cyclical preparation of the housing element or the agency's five-year implementation plan. If, at the end of each ten (10) year period, the affordable housing production estimate is not realized, the Law requires that an agency meet the production goals on an annual basis until the requirements for the previous ten (10) year period are met. Should an agency exceed the production requirements within the ten (10) year period, the Law allows an agency to count the units that exceed the requirements to meet housing production requirements during the next ten (10) year period. B. Use of Housing Funds Per the Law, the Agency reserves twenty percent (20%) of the tax increment revenue from both Project Areas to increase and improve housing affordable to very low, low, and moderate income households. A separate Housing Fund has been established for this revenue. The Agency may invest this revenue in new construction and rehabilitation activities in both Project Areas. To date, the Agency has expended this revenue on new construction, rehabilitation, and rental housing assistance. C. Definitions and Data Compilation This Second Compliance Plan takes into account all residential construction or substantial rehabilitation that has occurred within the Project Areas since their adoption in order to determine affordable housing production needs; it includes figures for existing residential construction and substantial rehabilitation, and projections for the number of additional dwelling units to be constructed or substantially rehabilitated du,;ng the ten-year planning period. The following sections define "new cor..struction" and "substantially rehabilitated" as used in this Second Compliance Plan, as well as the methodology used for collecting data on both existing and projected housing units. 1. New Construction. Construction statistics were provided by the City Planning staff. Because the Law does not provide a clear definition for new construction, Agency staff, consultant, and legal counsel have agreed upon a "definition" for new 133 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 4 Second Housing Affordability _ 6160 Compliance Plan t� �1 construction. For the purposes of this Second Compliance Plan, building permits issued for the construction of new dwelling units since the respective adoption dates of the Project Areas are considered to be new construction dwelling units; therefore, these units generate the Agency's affordable housing production requirements. Projections of new units are affected by numerous complex factors such as: the general health of the local, regional, and national economy; employment levels; competition; and the inventory of existing housing. Based upon the recent economic trends, projecting the number of new units to be constructed over a ten-year period is difficult. Future dwelling unit construction projections used in this Second Compliance Plan are based upon existing land uses and recent historical trends of building permits issued for residential units. The City Planning staff does not anticipate that the Project Areas will experience buildout within the ten year time frame (1994-95 through 2003-04) covered by this Second Compliance Plan. It should be noted that neither the existing housing stock nor projections for future dwelling units include any units to be developed by the Agency. According to Agency staff, the Agency does not anticipate directly developing or substantially rehabilitating any dwelling units which would trigger the thirty percent (30%) affordable housing requirement of Section 33413(b)(1) within the ten-year time frame of this Second Compliance Plan. However, the Agency will continue to cooperate with and provide assistance and incentives to private developers in order to meet affordable housing production goals. 2. Substantial Rehabilitation. The Law defines "substantial rehabilitation" as: "....rehabilitation, the value of which constitutes 25 percent of the after rehabilitation value of the dwelling, inclusive of the land value." 33413(b)(2)(A)(iv) "Substantially rehabilitated dwelling units" means: "....substantially rehabilitated multifamily rented dwelling units with three or more units or substantially rehabilitated, with agency assistance, single-family dwelling units with one or two units. " 33413(b) (2) (A) (iii) 13 :1 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 5 Second Housing Affordability Compliance Plan t t, 16 1 Research to date indicates that no units have undergone substantial rehabilitation, as defined above, in either Project Area. Substantial rehabilitation has probably not occurred for five (5) reasons: (1) certain dwelling units in the City which would have required substantial rehabilitation have been demolished by the landowner in lieu of rehabilitation; (2) housing has been less costly to construct relative to the cost of substantial rehabilitation; (3) the majority of existing housing in the City is newer (built in 1970's and 1980's) and therefore not generally in need of any rehabilitation; (4) in certain cases where units are in need of substantial rehabilitation, the cost may be beyond the reach of the owners; and (5) in certain cases of rental housing, landlords may believe a better return may be achieved by renting existing nonrehabilitated units rather than expending their capital for improvements and seeking higher rents. Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 6 Second Housing Affordability Compliance Plan r1 17 SECTION III. PROVISION OF AFFORDABLE HOUSING TO DAT Sections A, B, and C below identify the number of dwelling units which have been destroyed/removed, constructed, or substantially rehabilitated within the Project Areas to date. Section D identifies existing affordable housing deficits in the Project Areas. A. Dwelling Units Destroyed or Removed Directly or Indirectly by Agency to Date As of June 25, 1999, the Agency has demolished one dilapidated dwelling unit that housed a person or family of low and moderate income in Project Area No. 1. Therefore, the Agency will provide one replacement housing unit in Project Area No. 1 to replace this dwelling. The Agency is currently soliciting construction proposals to build a new dwelling on the site of the demolished unit. At this time, the Agency has no plans to destroy, remove, or to assist financially with the destruction or removal of any affordable housing units within the remainder of the ten-year time frame of this Second Compliance Plan. B. Dwelling Units Constructed or Substantially Rehabilitated within the Project Areas to Date Based on information provided by the City's Planning Department, the total number of new housing units constructed in Project Area Nos. 1 and 2 is provided below. Time Period Project Area No. 1 Project Area No. 2 Total Adoption thru 1/31/94 3,824 904 4,728 2/1 /94 thru 8/31 /97 798 1,047 1,845 9/1 /97 thru 8/1 /99 761 454 1,215 Adoption thru 8/1/99 5,383 2,405 7,788 Table 1 on the following page provides additional data on housing units constructed. This production is generally on track with projections for new home construction used in the original Compliance Plan adopted in 1994. It is important to note that all of these dwelling units were developed privately, the Agency has not developed housing units in either Project Area. 141 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 7 Second Housing Affordability - 063 Compliance Plan Units Destroyed/Removed, Constructed and Rehabilitated (Project Adoptions through May, 1999) Both Project Project Project Area No. 1 Area No. 2 Areas Units Destroyed or Removed by Agency 1 0 1 Substantially Rehabilitated Units 0 0 0 Units Constructed Agency -Developed Units 0 0 0 Privately -Developed Units 5,383 2,405 7,788 TOTAL NEW/REHABILITATED UNITS 5,383 2,405 7,788 Source: City of La Quinta Planning Department (February 1994, September 1997, and June 1999). Note: Privately -Developed Unit total for Project Area No_ 2 includes 2 mobilehomes. A review of building permit data indicates that there have been no dwelling units substantially rehabilitated in the Project Areas since their inception by the Agency or non -Agency entities. C. Dwelling Units Constructed or Substantially Rehabilitated as Affordable Housing to Date The Agency's housing production efforts have arisen from a series of Agency and privately initiated efforts. As summarized below, these efforts have yielded 321 units affordable to very low, low, and moderate income households. Stockman Development - Pursuant to an affordable housing agreement with the Agency, Stockman Development constructed 15 new single-family dwelling units on various infill lots in the Cove. All 15 units have been sold with recorded long-term affordability covenants. Of the 15 units, 9 units are reserved for very low income households, and 6 units are reserved for low income households. - Units Produced: 15 14 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 8 Second Housing Affordability 064 Compliance Plan Coachella Valley Housing Coalition (CVHC) - The Agency's affordable housing agreement with CVHC facilitated the construction of 10 single- family dwelling units in the Cove. In fiscal year 1993-94, these units were completed and sold to eligible households with long-term affordability covenants. Of the 10 units, 5 units are reserved for very low income households, and 5 units are reserved for low income households. - Units Produced: 10 Seasons/Williams Development Project -The Seasons/Williams Development Project involved the construction of a 91-unit senior citizen rental apartment project and 60 single-family detached housing units. The Agency has long-term affordability covenants on 111 units, including 97 very low units and 14 low income units. - Units Produced: 111 Building Horizons - Through a cooperative effort between the Agency and the Boys and Girls Club of Coachella Valley, the Agency has facilitated the construction of eight low and moderate income single-family dwelling units in the Cove. For all eight units, the Agency has recorded long-term affordability covenants ensuring the affordability of 5 units to low income households and 3 units to moderate income households. -Units Produced: 8 La Quinta Rental Housing Program - In 1995-96, the Agency purchased 50 single-family dwelling units which had been a part of the Coachella Valley Land rental project; 49 units are rented to very low income Section 8 households. In 1996-97, the Agency sold 1 of the 50 units to a low income household. The Agency is reinvesting excess rental incomes to rehabilitate the units and is subsequently selling these units to eligible very low income households. Efforts are being made to sell many of these units to existing very low income tenants. - Units Produced: 50 La Quinta Housing Program - The La Quinta Housing Program consists of three components: 1) a Silent Second Trust Deed Program, 2) a Residential Rehabilitation Program, and 3) a Dilapidated Unit Refurbishment Program. Since initiating the Silent Second Trust Deed Program in 1996-97, the Agency has funded and secured affordability covenants on 44 affordable housing units, 11 of which can be counted toward the Agency's housing production requirements. The affordability mix of the 44 units includes 9 very low units and 28 low units and 7 moderate Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 9 Second Housing Affordability - Compliance Plan 140 (,6 units. Specifically, the affordability mix of the 11 units counted towards the Agency's housing production requirements includes one very low, eight low, and two moderate income units. The Residential Rehabilitation Program has assisted 1 low income unit and 1 moderate income unit between 1994- 95 and 1998-99. Currently, three units are pending approval. The Dilapidated Unit Refurbishment Program has resulted in the acquisition of 3 units in the Cove. One unit has been demolished and the Agency is currently seeking development proposals for the replacement of this unit. The second unit is currently under going rehabilitation. The disposition of the third unit is being evaluated. Additional affordable units will be produced in the coming years through implementation of the Silent Second and Dilapidated Unit Refurbishment Programs. - Units Produced: 11 Villa Cortina - Through the use of Tax Credit financing, the private sector developed the 116-unit multifamily rental Villa Cortina project in Project Area No. 1. All 116 units have 50-year affordability covenants, one-half of the units (48 units) are restricted to very low income households, and the remaining 68 units are occupied by low income households. - Units Produced: 116 Table 2 below summarizes the affordable housing units which have been produced. Covenant Restricted Units Produced/Contracted/Pending Very Low Low/Moderate Total Units Units Units Units Produced 210 111 321 D. Existina Affordable Housina Deficit In Project Area No. 1, there were a total of 3,824 privately developer' units constructed between 1983 and 1994; a total of 904 privately developed units were constructed in Project Area No. 2 between 1989 and 1994. Per Section 33413(b)(2) affordable housing production provisions for privately developed units constructed, the Agency must ensure that a total of 709 affordable housing units are produced, of which 574 (15% of 3,824) are to be produced for Project Area No. 1 and 135 (15% of 904) are to be produced for Project Area No. 2. 141 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency �+ c July, 1999 10 Second Housing Affordability 066 Compliance Plan Of the 574 affordable housing units currently required for Project Area No. 1, 230 units must be affordable to very low income households, and 344 affordable to low and moderate income households. Of the 135 required affordable housing units for Project Area No. 2, 54 units must be affordable to very low income level households, and 81 units affordable to low and moderate income households. This is further summarized in Table 3. Section 33413 is unclear regarding the application of its provisions regarding housing deficits in existence prior to the original adoption of the compliance plan in 1994. Under one approach, and for the purposes of this Second Compliance Plan, it is assumed that the pre-existing housing deficit can be met over the life of the Redevelopment Plans. Pursuant to AB 1290 redevelopment plan limits, the deadline on redevelopment activities for Project No. 1 is 2023 and for Project No. 2 is 2029. These deadlines may be extended by ordinance to carry out replacement housing obligations or to allow full expenditure of the Housing Fund. The Agency shall, however, utilize best efforts to remedy pre-existing housing deficits over the ten-year period. Pre-existing Housing Production Deficit - Project No. 1 and No. 2* Total Private Required Required Required Very Devel/Rehab Affordable Low/Moderate Low Units Units Units Units Project No. 1 3,824 574 230 344 Project No. 2 904 135 544 81 Total Project Areas 4,728 709 284 425 Plan Adoption to 1994. 14 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 11 Second Housing Affordability Compliance Plan Estimates for the total number of dwelling units to be constructed within the Project Areas both during the ten-year period and over the life of the Redevelopment Plans were provided by City Planning staff, and are based on existing land uses as well as recent growth trends within the Project Areas. It is anticipated that all of these units will be developed by entities other than the Agency. Further, it is not anticipated that any units will be substantially rehabilitated in the future. As shown on Table 4, the total number of units estimated to be developed over the ten-year period (1994 through 2003) is 5,947 (3,366 in Project Area No. 1, and 2,581 in. Project Area No. 2). [Note: as of August 1999, 3,193 units will be built of the 5,947 projected.] This would create an affordable housing production need of 892 units, including 357 very low income units. The Agency's affordable housing activities to date resulting in the production of 321 units reduces the ten- year housing need to 571 units. Beyond the ten-year period, or after fiscal year 2003-04, staff estimates that another 3,450 dwelling units could be developed in the Project Areas. The inclusionary production requirement associated with these additional units is for 518 affordable units, including 207 very low income units. Thus, when combining the preexisting affordable housing deficit of 709 units, with the 571 unit need for the current ten-year period and the projected need for an additional 518 units after the ten-year period, the Agency's total projected housing production needs are 1,798 units, of which 638 units are very low income units. As stated earlier, it is the Agency's intent to meet the pre-existing 709 unit housing deficit over the duration of the Redevelopment Plans. Future housing needs for 518 units beyond the ten-year period will be addressed after the current ter year planning need has been satisfied. Thus, the Agency will focus its immediate efforts to produce 571 dwelling units to meet the production need for the current ten-year period. 1 4 o Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 12 Second Housing Affordability- Compliance Plan Total Required Affordable Housing Production Total Private Affordable Very Low Units Low/Moderate Devel/Rehab Units Needed Needed Units Needed Units AdoptionPre-existing (Plan . 1994-95) Preexisting Deficit (Table 3) N/A 709 284 425 Period10 Year 000• New Units Projected (1994- 5,947 892 357 535 95 through 2003-04) Less: Affordable Units N/A (321) (210) (111) Produced (Table 2) Current 10 Year Period N/A 571 147 424 Deficit,Life of - Redevelopment New Units Projected (2003- 3,450 518 207 311 04 through Plan Durations) Total Units Needed By NIA 1,798 638 1,160 Termination of Red. Plans Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 13 Second Housing Affordability 147 ()6q Compliance Plan A. Projections of Agency Twenty Percent (20%) Low and Moderate Income Housing Set -Aside Funds The Agency deposits twenty percent (20%) of tax increment revenue allocated to the Agency into separate housing fund accounts for each Project Area. Projections of Housing Fund revenues for both Project Areas are shown on Table 5. Table 5 includes existing housing fund balances, gross set -aside revenues, expenditures, and net housing fund revenues for the remainder of the ten-year period (fiscal years 1999-00 through 2003- 04). Expenditures include debt service payments on Series 1994 and 1995 bonds, Agency administration costs, and housing program expenditures per contractual agreements. The total resources available to the Agency, net of expenditures, to implement affordable housing projects over the remainder of the ten-year period for Project Area Nos. 1 and 2 (1999-00 through 2003-04) is estimated to be $15,961,227 and $2,311,902, respectively. Because few, if any, other funding sources exist, the Housing Fund is the only major source of revenue available for implementing affordable housing projects needed to remedy the housing deficit. 143 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency ` 0 r7 O July, 1999 14 Second Housing Affordability l� 1 Compliance Plan Project Area No. 1 - Housing Fund 1 2 3 4 5 1999-00 2000-01 2001-02 2002-03 2003-04 Beginning Fund Balance Per 1199 Cash Flow Estimates 5,731,760 4,026,660 2,199,926 1,228,927 1,393,754 Restricted: Sept Payment on94TABS (345,581) (350,888) (355,791) (362,068) (367,915) Restricted., Sept Payment on 95 TABS (763,605) (769,592) (775,112) (784,158) (788,598) Restricted: 1/2 TotalP/D (174,984) (163,282) (165,698) (183,036) (177,535) Beginning Available Cash Balance Revenues Tax Increment Interest Rental Program Home Sales Proceeds ERAF Loan Repayment TOTAL Senior Lien Expenditures Housing Bond Debt Service 1994 TABS (18.5%) 1995 TABS Subtotal Planning & Development Reimbursements Contract Services Miscellaneous Subtotal 4,447,590 2,742,839 903,326 (100,334) 59,706 2,633,105 2,737,920 2,846,402 200,000 200,000 200,000 341,000 341,000 341,000 150,000 150,000 150,000 3,324,105 3,428,920 3,537,402 2,958,682 3,074,891 200,000 200,000 341,000 341,000 916.740 3,499,682 4,532,632 485,569 485,604 484,758 484,858 480,901 1,253,728 1,253,427 1,252,248 1,253,925 1,250,554 1,739,297 1,739,031 1,737,006 1,738,783 1,731,455 259,989 238,608 240,474 242,081 242,907 77,637 75,242 77,827 110,503 98,272 12,342 12,713 13,094 13,487 13,892 349,968 326,563 331,396 366,071 355,071 TOTAL 2,089,265 2,065,594 2,068,402 2,104.854 2,086,526 Housing Program Costs Assessment Subsidy 220,000 220,000 220.000 220,000 220,000 Rental Program 260,000 260,000 260,000 260,000 260,000 Housing Program 750,000 750,000 750,000 750,000 750,000 Building Horizons 210,000 210,000 210,000 - - Mira flores/Catellus - - - RGC Adams/Avenue 48 Housing 1,500,000 - - Village Live/Work Housing - 1,000,000 1,000,000 MileslWashington Housing - 750,000 - - TOTAL 2,940,000 3,190,000 2,440,000 1,230,000 1,230,000 Net Cash Flows (1,705,160) (1,826,674) (971,000) 164,828 1,21r 106 Ending Cash Balance 2.742,431 916,165 (67,674) 64,493 1,275,812 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 15 Second Housing Affordability Compliance Plan 141 (171 Project Area No. 2 - Housing Fund 1 2 3 4 5 1999-00 2000-01' 2001-02 2002-03 2003-04 Beginning Fund Balance Per 1199 Cash Flow Estimates 802,056 522,756 493,406 535,225 623,696 Restricted: Sept Payment on 95 TABS (204,637) (204,637) (204,637) (204,637) (204,637) Restricted: 1/2 Payment on P & D (236,459) (266,487) (281,751) (282,021) (256,495) Beginning Available Cash Balance 360,961 51,632 7,018 48,567 162,564 Revenues Tax Increment 1,061,758 1,121,734 1,172,113 1,217.959 1,265,408 Interest 20,700 20,650 21,650 23,450 25,000 ERAF Loan Repayment - - - - 70,085 TOTAL 1,082,458 1,142,384 1,193,763 1,241,409 1,360,493 Senior Lien Expenditures Housing Bond, Debt Service 1995 TABS 338,841 338,760 338,442 338,895 337,983 Planning & Development Reimbursements 365,733 423,962 453,287 452,707 420,497 Contract Services 100,730 102,364 103,369 104,283 85,229 Miscellaneous 6,454 6,648 6,847 7,052 7,264 Subtotal 472,917 532,974 563,503 564,042 512,990 TOTAL 811,758 871,734 901,945 902,937 850,973 Housing Program Costs Housing Program 250,000 250,000 250,000 250,000 250,000 Miraflores/Catellus - - - - - CIP: Ave 48 Extension - CIP: Miles Av/Washington St - - Spanos Company Apartments 300,000 Miles/Washington Housing - 50,000 - TOTAL 550,000 300,000 250,000 250,000 250,000 Net Cash Flows (279,300) (29,350) 41,818 88,472 259,521 Ending Cash Balance 81,661 22,282 48,836 137,038 422,085 Notes: Assumes 7.5% secured growth in 1999-00, 5% in 2000-01, 4% in 2001-02, and 3.5% thereafter; no growth in unsecured or utility values, and $200,000 annually in unitary and supplemental revenues Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 16 Second Housing Affordability - 072 Compliance Plan B. Other City/Agency Revenues The City of La Quinta was incorporated after the adoption of Proposition 13 in 1978, so property tax revenues comprise a small amount of the City's total revenue. The City's limited and somewhat seasonal economic base does not generate sufficient tax revenues to meet many nonoperational General Fund needs. For these reasons, it is very unlikely that the City will be able to provide any financial resources to help remedy the Agency's affordable housing deficit. Existing Agency funding requirements for the nonhousing Redevelopment Funds include outstanding bonded debt obligations, pass through payments to taxing agencies, and rent and overhead costs. Because of these heavy funding commitments, no revenue from the Agency's Redevelopment Fund is anticipated to be available to assist with the implementation of affordable housing projects. C. Other Revenue Sources Other revenue sources the Agency will evaluate over the remainder of the ten-year term include funding available from federal programs (i.e., HUD, CDBG, and Section 8), state programs, and low income housing tax credits. The feasibility of Agency financing will also be examined over this time period. Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 17 Second Housing Affordability Compliance Plane (,73 This section presents the strategies the Agency is pursuing to meet the production requirement for the current ten-year cycle. As identified earlier in Table 4, the Agency is projected to need 571 affordable units (including 147 very low income units) to achieve its production goals for the current ten-year cycle (1994-95 through 2003-04). The Agency will pursue the following programs to produce needed affordable housing for the remainder of the ten-year cycle. Any units produced in excess of the 571 units needed will be credited to the production deficit or the next ten-year cycle production need. Avenue 48/Jefferson Proiect: The Agency has successfully negotiated an agreement with Catellus Development to construct 118 senior apartments and 86 single-family dwellings, all of which will be affordable to very low, low and/or moderate income household. The development will be located on the northwest corner of Avenue 48 and Jefferson Street. All units would carry affordability deed restrictions. - Estimated Units Produced: 204 Miles/Washington Street: The Agency purchased a 55-acre site, has begun construction of off -site improvements and has initiated community planning efforts. The Agency will work toward the development of the site with affordable housing to very low, low and/or moderate income households. Preliminary estimates indicate that 106 units could be accommodated on this site. Avenue 48/Adams Street (RGC): The Agency is currently in discussions with RGC for the construction of 99 single-family homes on approximately 36 acres. Of these, 65 would be affordable to moderate income households. - Estimated Units Produced: 65 available to moderate income households Building Horizons: Continued implementation of the Building Horizons program is anticipated to result in the production of 10 affordable units between 1999-00 and 2003-04. Staff estimates that the 10 units will be restricted to low and moderate income households. Estimated Units Produced: 10 J Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 18 Second Housing Affordability- 074 Compliance Plan La Quinta Housing Program: The Agency will continue to implement the La Quinta Housing Program to facilitate the production of affordable housing units throughout the City. Contingent upon available funding and program participation, the Second Trust Deed could yield up to 75 affordable units over the remaining five years of the ten-year cycle. Approximately 7 of the 75 units produced by the Second Trust Deed Program could be restricted to very low income households. It is also anticipated that the Dilapidated Unit Refurbishment Program would generate another 10 units (2 units per year) of low income affordable units. In total, the La Quinta Housing Program is expected to generate up to 85 affordable units over the remainder of the ten-year cycle. - Estimated Units Produced: 85 A.G. Spanos Proposal: The Agency is completing an affordable housing agreement with A.G. Spanos regarding the development of 200 apartments, of which 20 units will be at rents affordable to moderate income households. The proposed site, totaling 14.4 acres, is located at Adams Street and Avenue 48. - Estimated Units Produced: 20 Village LiveMork Housing. The Agency wishes to initiate this program to build a mixed -use development in the Village area consisting of commercial uses and housing. The housing units could potentially be lofts above first floor businesses, and may be affordable to low and very low income households. This program is still in the planning stages, and potential sites, specifics regarding the development and the affordability mix, have not been determined as of the date of the Second Compliance Plan. C. Provide Incentives to Developers to Promote Housing Development The City can offer incentives to facilitate the production of affordable dwelling units. Current incentives include densi`y bonuses in exchange for long-term affordability covenants. Other ir.,entives could include the following: • Fund, waive or reduce development fees • Lease of City/Agency owned property • Provide off -site improvements Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 19 Second Housing Affordability Compliance Plan 1_53 075 • Provide "Extra" Density Bonuses • Tax Credits • Community Reinvestment Act Incentives As mentioned previously, Section 33413(b)(2)(A)(ii) allows the Agency to meet affordable housing requirements by providing affordable housing units outside of the Project Areas on a two -for -one basis. The Agency has adopted resolutions for both Project Areas to allow the use of housing funds outside of Project Area boundaries. D. Other Affordable Housing Programs 1. Community Development Block Grant (CDBG) Program. The Agency will continue to pursue available CDBG Program funds from the Federal government (HUD) to assist with meeting affordable housing goals. The CDBG funds can be utilized for community improvements, land acquisition and write -down, and other public/private cooperative agreements. 2. State of California Housing Programs. State housing programs are more limited in scope and funding than are Federal housing programs: Specific State programs discussed previously that the Agency applies for will be based upon availability, and the specific affordable housing projects. E. Rehabilitation Loans and Grants Although no "substantial rehabilitation" has occurred within the Project Areas to date, as the existing housing stock ages the need for rehabilitation will increase. F. Community Involvement - Self Help 1. Encouragement of Self -Help Programs. These offer an opportunity to produce houses to lower income segments of tF community at a minimum of cost. The Coachella Valley Housing Coalition currently implements a Self -Help Program which provides a dollar amount credit for hours contributed to the construction of a home by the potential homeowner. Such programs traditionally are used for new construction; it seems plausible that similar techniques could be applied for substantial Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 20 Second Housing Affordability Compliance Plan 15.1 r)" rehabilitation in appropriate situations. This could promote the enhancement rather removal of obsolescent structures. 2. Community Involvement. Agency partnerships with community organizations may also increase the amount of affordable housing in the Project Areas. For example, the Building Horizons Program has resulted in the production of 8 single family dwelling units, 5 of which were made available to very low income households. The Building Horizons Program is a cooperative effort between the Agency and the Boys and Girls Club of Coachella Valley. G. Potential Sites for Affordable Housing Units As discussed on pages 19 and 20, the Agency currently owns two properties, a 50-acre site near the corner of Avenue 48 and Adams Street and a 55-acre site near the corner of Miles and Washington Streets. The Agency is in negotiations with a developer for the Avenue 48/Adams Street site. The Agency will continue to identify appropriate sites for affordable housing. Potential sites for affordable housing are undeveloped land zoned for low density residential (2-4 DU/AC), medium high density residential (8- 12 DU/AC), or mixed/regional commercial allowing residential uses (8-16 DU/AC). The Agency will continue to pursue additional sites that are suitable for development of affordable housing. 155 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 21 Second Housing Affordability _ 01 7 7 Compliance Plan I This section forecasts a potential implementation strategy for the production of these units. At this time, beyond the current units contracted, no specific programs have been proposed. As such, this implementation strategy sets forth a general policy direction. With regard to the production of the 571 units needed for the current ten-year cycle, the Agency will first seek to employ available Housing Fund revenues to facilitate the production of these units in accordance with the quantified objectives of the Regional Housing Needs Assessment (RHNA) developed by the Southern California Association of Governments. The RHNA establishes both the projected need for nonmarket rate housing and the "same share" distribution of_a projected need to each jurisdiction in each market area. For the City of La Quinta, the RHNA sets forth an affordable housing need in the following proportions: very low income households - 206 units; low income households - 200 units; and moderate income households - 231 units. Thus, the RHNA proposes generally an equal division of housing units that cross the very low, low, and moderate income categories. - The RHNA proportions set forth in the Housing Element for the General Plan dictate the future housing need for the City. In this Second Compliance Plan, these proportions have been applied in order to forecast the appropriate division of resources so as to show a balanced production of affordable housing relating to housing production occurring over the ten-year cycle. Based upon the Agency's combined available revenues of $18,278,129, the Agency could be able to fund various housing programs to achieve an equal distribution of very low, low, and moderate income household units pursuant to the RHNA. Section VI of this Second Compliance Plan delineates various Agency programs that are projected to result in a total of at least 384 affordable dwelling units over the next five years. The estimated 384 units produced with Agency assistance will be counted towards the projected affordable housing need of 571 units projectee over the ten-year cycle. With respect to the 187 remaining units, the Agency/City Council are considering implementation of various regulatory measures and development incentives such as those set forth in this Second Compliance Plan that will ensure the production of these units within the ten-year time frame. 1JU Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency 7 8 July, 1999 22 Second Housing Affordability Compliance Plan As discussed earlier in this Second Compliance Plan, the Agency is permitted to address the existing 709-unit affordable housing deficit over the life of the respective Redevelopment Plans. The programs expected to be implemented to assure the production of these units will be similar to those outlined above. In the event that the Agency is unsuccessful in meeting its production of affordable housing at the termination of the respective Redevelopment Plans, the effectiveness of one or both of the Redevelopment Plans may be extended in order to collect additional tax increment revenue and facilitate additional Agency housing programs as necessary to eliminate any remaining housing production deficits, pursuant to Section 33333.6 of the Law. Table 5 shows an estimated annual production timeline for the production and estimated costs of affordable dwelling units needed over the balance of the ten- year cycle. Affordable Housing_ Production Implementation Program Timeline Affordable Housing Goals for Remainder of 10 Year Planning Period (1999 - 2003) In- 3 a 0 0 J a O J O H New Units Projected (1994-95 through 2003-04) 357 535 892 Less: Affordable Units Produced (Table 2) (210) (111) (321) Current 10 Year Period Deficit 147 424 571 'Anticipated Production Activities for Remainder of Units i2003) Produced Estimated Units Produced Annually 3 a _ O F J O O O O 1 3 m Estimated c) o — N A A a d o J o H Cost Q o N 0 N 0 N 0 N } h Planned Agency -Subsidized Programs Avenue 48 & Jefferson Street Project (Catellus) 118 86 204 $5,195,808 18 48 77 61 0 204 Building Horizons 0 10 10 $420,000 2 2 2 2 2 10 La Quinta Housing Program: Silent Second 7 68 75 $3,250.000 15 15 15 15 15 75 La Quinta Housing Program: Dilap. Refurb 5 5 10 $1,250,000 2 2 2 2 2 10 Avenue 481Adams Street (RGC) 0 65 65 $1,500,000 0 65 0 0 0 65 MdesNVashington Street' 0 0 0 $800,000 0 0 0 0 0 0 A.G Spanos 0 20 20 $300,000 20 0 0 0 0 20 Village LivelWork Housing' 0 0 $2,000.000 0 0 0 0 0 0 Subtotal 130 254 384 $14,715,808 57 132 96 80 19 384 Other Agency and City Programs Q Q Q N/A Q Q Q Q Q Q Grand Total Anticpated Production 130 254 384 57 132 96 80 19 384 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency July, 1999 23 Second Housing Affordability 079 Compliance Plan Because this Second Compliance Plan focuses on providing housing for lower income households who are generally the most difficult segment of the community to provide housing for, it is clearly consistent with the Housing Element's goal to provide housing for all economic groups within the City. Both this Second Compliance Plan and the Housing Element state the there is a definite need to assure an adequate supply of housing for the lower income segments of the City. Like the Housing Element, this Second Compliance Plan emphasizes the need to provide incentives to developers in order to increase the supply of affordable housing units in the Project Areas and Citywide. This Second Compliance Plan suggests many of the same incentives which can be provided to developers who create affordable housing units. Some of these incentives include allowing density bonuses, altering building standards, writing down land costs, paying all or part of development fees, paying for off -site improvements, working to speed up the permit process, and subsidizing mortgage interest rates. This Second Compliance Plan also reaches the same assumption as the Housing Element regarding what revenue sources will be available to subsidize affordable housing projects. Both planning documents make it clear that the only viable revenue source available to assist with alleviating affordable housing problems in the City is the Low and Moderate Income Housing Set -Aside Fund of the Redevelopment Agency. A major focal point of the goals policies and objectives of the Housing Element is to provide housing for all economic segments of the City, especially lower income families. Because the major goal of this Second Compliance Plan is also to provide housing for these lower income households, and the proposed plans and programs for improving the supply of affordable housing in the City presented in this Second Compliance Plan are similar to plans and policies of the Housing Element, there is clearly a high degree of consistency between the Second Compliance Plan and the Housing Element. 153 Rosenow Spevacek Group, Inc. La Quinta Redevelopment Agency 080 July, 1999 24 Second Housing Affordability Compliance Plan EXHIBIT "I" Map of Project Areas 153 081 LA QUINTA REDEVELOPMENT AGENCY Redevelopment Project Areas Project Area Boundaries = = �� NORTH . " AVENUE 44 ru w HIGHWAY 111Ln �- I= AVENUE 48 _ z NOT Q -- -- -� !< I Existing Project Area No. 2 n PART _ oil 111 11111111�AVENUE 50 4 r Bi��ID� i i gg 00 Lam.- AVENUE 52 Existing Project Area No. 1 AVENUE 54 �9I�� gg�� 6� Ell - lu TTI =: d i i I I N AVENUE 56 --L--THE COVE i---.=i �_- .. - �. o l w Lu l AVENUE 58 082 AVENUE 60 I