2010 01 19 RDA MinutesLA QUINTA REDEVELOPMENT AGENCY
MINUTES
JANUARY 19, 2010
A regular meeting of the La Quinta Redevelopment Agency was called to
order by Chairperson Evans.
PRESENT: Agency Members Adolph, Franklin, Henderson, Sniff,
Chairperson Evans
ABSENT: None
PUBLIC COMMENT -None
CLOSED SESSION
1. Conference with Agency's real property negotiator, Douglas R. Evans,
pursuant to Government Code Section 54956.8 concerning potential
terms and conditions of acquisition and/or disposition of real property
located on Westward Ho Drive, east of Dune Palms Road (APN: 600-
030-0051. Property Owners/Negotiators: Jose and Carmelite Simo.
The Redevelopment Agency recessed to Closed Session to and until the hour
of 4:00 p.m.
4~A0 P_M_
The Redevelopment Agency meeting was reconvened with no decisions
being made in Closed Session which require reporting pursuant to
Government Code Section 54957.1 (Brown Act1.
PUBLIC COMMENT -None
CONFIRMATION OF AGENDA -Confirmed
APPROVAL OF MINUTES
MOTION - It was moved by Agency Members Sniff/Franklin to approve the
Redevelopment Agency Minutes of January 5, 2010, as submitted. Motion
carried unanimously.
Redevelopment Agency Minutes 2 January 19, 2010
CONSENT CALENDAR
1. APPROVAL OF DEMAND REGISTER DATED JANUARY 19, 2010.
2. RECEIVE AND FILE TREASURER'S REPORT DATED NOVEMBER 30,
2009.
3. RECEIVE AND FILE REVENUE & EXPENDITURES REPORT DATED
NOVEMBER 30, 2009, AND INVESTMENT SUMMARY REPORT FOR
THE QUARTER ENDING DECEMBER 31, 2009.
4. ADOPTION OF A RESOLUTION APPROVING A PURCHASE AND SALE
AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY AND JOSE
AND CARMELITA SIMO FOR VACANT LAND LOCATED ON
WESTWARD HO DRIVE, EAST OF DUNE PALMS ROAD (APN: 600-
030-005) AND THE APPROPRIATION OF 5300,000. (RESOLUTION
NO. RA 2010-001)
MOTION - It was moved by Agency Members Franklin/Adolph to,
approve the Consent Calendar as recommended and with Item No. 4
being approved by RESOLUTION NO. RA 2010-001. Motion carried
unanimously.
BUSINESS SESSION -None
STUDY SESSION -None
CHAIR AND AGENCY MEMBERS' ITEMS -None
The Redevelopment Agency recessed to and until 7:00 p.m.
PUBLIC HEARINGS
1. PUBLIC HEARING TO ADOPT A RESOLUTION APPROVING THE
FOURTH, FIVE-YEAR IMPLEMENTATION PLAN FOR FISCAL YEARS
2009-2010 TO 2013-2014, AND THE THIRD TEN-YEAR
AFFORDABLE HOUSING COMPLIANCE PLAN FOR LA QUINTA
REDEVELOPMENT PROJECT AREA NOS. 1 AND 2.
Redevelopment Consultant Spevacek presented the staff report.
Agency Member Henderson requested the Finance Director to provide
information on what the inflated infrastructure would be.
Redevelopment Agency Minutes 3 January 19, 2010
Agency Member Sniff asked if the people that utilize these units pay
rent. Consultant Spevacek explained they either pay rent or a monthly
mortgage payment. Agency Member Sniff stated he is curious of
where the money goes. Consultant Spevacek explained the money
goes to .pay down private sector loans and to help underwrite the cost
to develop the loans.
Agency Member Henderson asked if some of the funds go to pay the
management contract for the multi-family units. Assistant City
Manager-Development Services Evans explained the funds obtained
from the homes rented in the Cove are utilized toward the
management for operation of the program and rehabilitation of the
homes.
In response to Agency Member Sniff, Finance Director Falconer
explained the La Quinta Cove rental homes have generated
approximately 5700,000 net, and the Washington Street Apartments
revenue is placed in a reserve account until it amounts to $600,000
as required by the agreement with Washington Street Apartments.
Agency Member Adolph asked if the Washington Street Apartments
are managed by staff or a management company. Finance Director
Falconer explained the La Quinta Cove rental program is managed by
Cathcart Property Management and the Washington Street
Apartments are managed by Hyder Property Management. Assistant
City Manager-Development Services Evans further explained Hyder
Property Management is contracted by the City and staff oversees the
contract.
Agency Member Henderson asked what the projected investment for
the rehabilitation of the Washington Street Apartments is. Consultant
Spevacek stated it is projected to be 518.2 million for the
rehabilitation of 73 units with the ability to obtain another 18 units on
the property; and the possibility of building out the adjoining 5 ± acres
with additional affordable housing units.
Agency Member Sniff asked how many affordable housing units are
occupied, the amount of monthly payments, and to whom are they
making the payments to. Consultant Spevacek explained there are
1,052 units of single-family affordable home participants who are
making a monthly mortgage payment to a lender such as Bank of
America; the Agency-assisted rental properties are paying rent to:
Hyder Property Management, Core National Housing, or Link Housing
Redevelopment Agency Minutes 4 January 19, 2010
for overseeing those properties, and these respected entities have first
trust deed mortgage payments.
Agency Member Sniff asked who the financial beneficiary of the
affordable housing units is. Assistant City Manager-Development
Services Evans explained the City is .the beneficiary of the City or
Agency-owned properties; the other properties such as Coachella
Valley Housing Coalition, Wolff Waters, Vista Dunes, and Core
National Housing -are the benefigiaries of .the revenues„ received for
each multi-family unit. ~• `~~ - ~~' ~~~°"
Agency Member Adolph asked if the production requirement figures
provided in the staff report includes the Wolff Waters project.
Consultant Spevacek confirmed.
The Chair declared the PUBLIC HEARING. OPEN at 7:43 p.m. There
being no requests, the Chair declared the PUBLIC HEARING CLOSED
at 7:43 p.m.
Agency Member Franklin complimented staff for a well written staff
report and explanation of the Redevelopment Project Areas.
Consultant Spevacek explained a listing of all projects the Agency has
invested in since 1983 will be circulated to the Agency Board
Members upon completion.
Agency Member Henderson concurred with the comments made by
Agency Member Franklin; and conveyed appreciation for
improvements made to the report.
Agency Member Adolph conveyed appreciation for staff's efforts for
the success of the project areas.
RESOLUTION NO. RA 2010-002
A RESOLUTION. OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LA QUINTA, CALIFORNIA, ADOPTING THE FOURTH, FIVE-YEAR
IMPLEMENTATION PLAN FOR LA QUINTA REDEVELOPMENT
PROJECT AREA NOS. 1 AND 2.
It was moved by Agency Members Sniff/Henderson to adopt
Resolution No. RA 2010-002 as submitted. Motion carried
unanimously.
Redevelopment Agency Minutes 5 January 19, 2010
ADJOURNMENT
There being no further business, it was moved by Agency Members
Adolph/Sniff to adjourn. Motion carried unanimously.
Respect Ily submitted,
-/
GZ %~~ ~'
VERONICA J ONTECINO, Secretary
City of La Quinta, California