2010 05 18 RDA&# 4 #adja
Redevelopment Agency agendas are
available on the City' web page
@ www.la-quinta.org
REDEVELOPMENT AGENCY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
TUESDAY, MAY 18, 2010
3:00 P.M. Closed Session / 4:00 P.M. Open Session
Beginning Resolution No. RA 2010-006
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Franklin, Henderson, Sniff, Chairperson Evans
PUBLIC COMMENT
At this time, members of the public may address the Redevelopment Agency on any
matter not listed on the agenda. Please complete a "request to speak" form and limit your
comments to three minutes.
CLOSED SESSION
NOTE: Time permitting the Redevelopment Agency Board may conduct Closed Session
discussions during the dinner recess. In addition, persons identified as negotiating parties
are not invited into the Closed Session meeting when acquisition of real property is
considered.
1. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, DOUGLAS
R. EVANS, PURSUANT TO GOVERNMENT CODE SECTION 54956.8
CONCERNING POTENTIAL TERMS AND CONDITIONS OF ACQUISITION
AND/OR DISPOSITION OF REAL PROPERTY LOCATED SOUTHWEST OF THE
INTERSECTION OF HIGHWAY 111 AND LA QUINTA CENTRE DRIVE.
PROPERTY OWNER/NEGOTIATOR: DIRECT POINT ADVISORS, INC.,
MICHAEL HASTINGS.
001
Redevelopment Agency Agenda 1 May 18, 2010
2 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 CERTAIN VACANT LOTS LOCATED IN THE
LA QUINTA COVE (APNs 774-044-011, AND -012. PROPERTY OWNER/
NEGOTIATOR: HABITAT FOR HUMANITY, FRED BELL.
3. 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 THE WEST SIDE
OF EISENHOWER DRIVE BETWEEN AVENUE 50 AND AVENIDA FERNANDO.
PROPERTY OWNER/NEGOTIATOR: PYRAMID PROJECT MANAGEMENT,
KEN HOEPPNER.
RECESS TO CLOSED SESSION
RECONVENE AT 4:00 P.M.
C QIT17 U 1
PUBLIC COMMENT
At this time members of the public may address the Redevelopment Agency on any matter
not listed on the agenda. Please complete a "request to speak" form and limit your
comments to three minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF MINUTES OF MAY 4, 2010.
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 MAY 18, 2010.
'n 002
Redevelopment Agency Agenda 2 May 18, 2010
2. RECEIVE AND FILE TREASURER'S REPORT DATED MARCH 31, 2010.
3. RECEIVE AND FILE REVENUE & EXPENDITURES REPORT DATED MARCH
31, 2010.
BUSINESS SESSION - NONE
STUDY SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Redevelopment Agency will be held on June 1,
2010, commencing with closed session at 3:00 p.m. and open session at 4:00
p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA 92253.
LARATION OF POSTING
I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that
the foregoing agenda for the La Quinta Redevelopment Agency meeting of May 18,
2010, was posted on the outside entry to the Council Chamber at 78-495 Calle
Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630
Highway 1 1 1, on May 14, 2010.
iDATED: ay 14, 2010ERONICA J. TECINO, City Clerk
City of La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Redevelopment Agency regarding
any item on this agenda will be made available for public inspection at the City Clerk
counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during
normal business hours.
Redevelopment Agency Agenda 3 May 18, 2010
la�� Qr
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RDA MEETING DATE: May 18, 2010
ITEM TITLE: Demand Register Dated
May 18, 2010
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
May 18, 2010 of which $23,856,711.60
represents Redevelopment Agency Expenditures.
AGENDA CATEGORY:
BUSINESS SESSION
CONSENT CALENDAR
STUDY SESSION
PUBLIC HEARING
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
r, 004
Tw�t 4 4 auk&
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: May 18, 2010
ITEM TITLE: Receive and File Transmittal of BUSINESS SESSION: _
Treasurer's Report as of March 31, 2010 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Redevelopment Agency:
Receive and File the Treasurer's Report as of March 31, 2010.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
a 005
TUY 4 4 Quha
COUNCIL/RDA MEETING DATE: May 18, 2010
ITEM TITLE: Receive and File Transmittal of
Revenue and Expenditure Report for March 31,
2010
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the March 31, 2010 State of Revenue and Expenditures for the La
Quinta Redevelopment Agency.
spect ully submitted,
John M. Falconer, finance Director
�Approved for submission by:
Thomas P. Genovese, Executive Director
Attachment: 1 . Revenue and Expenditures Report, March 31, 2010
006
H I I AW11V1tiM I I
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 1:
LOW/MODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Miscellaneous revenue
Non Allocated Interest
LQRP-Rent Revenue
Home Sales Proceeds
Sale of Land
Sewer Subsidy Reimbursements
Rehabilitation Loan Repayments
2nd Trust Deed Repayment
Williams Note Payment
Transferin
TOTAL LOW/MOD TAX
DEBT SERVICE FUND:
Tax Increment
Allocated Interest
Nan Allocated Interest
Interest - County Loan
Interest Advance Proceeds
Transfers In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND
Pooled Cash Allocated Interest
Non Allocated Interest
Developer Agreement Funding
Sale of Land Proceeds
Rental Income
Litigation Proceeds
Transfers In
TOTAL CAPITAL IMPROVEMENT
07/01/2009 - 03/31/2010
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
9,623,500.00
4,810,840.06
4,812,659.94
49.990%
68,700.00
8,115.52
60,584A8
11.810%
0.00
1,168.82
(1,168.82)
0,000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
225,000.00
192.820.06
32,179.94
85.700%
150,000.00
0.00
150,000.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
57,525.00
(57,525.00)
0.000%
19,444.00
19,444.00
0.00
100,000%
0.00
0.00
0.00
0.000%
10,086,644.00
5,089,913.46
4,996,730.64
50.460%
38,494, 000.00
19,183,437.19
19.310,562.81
49.830%
75,000.00
58,950.59
16,049.41
78.600%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0,000%
0.00
0.00
0.00
0.000%
4,438,892.00
4,438,891.54
0.46
100.000%
43,007.892.00
23,681,279.32
19,326,612.68
55.060%
162,000.00
101,363.91
60,636.09
62.570%
34,500.00
23,946.46
10,553.54
69.410%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
2,639.00
2,639.33
(0.33)
100.010%
0.00
325,000.00
(325,000.00)
0.000%
0.00
0.00
0.00
0.000%
199,139.00
452,949.70
(253,810.70)
227.450%
•.:� 007
2
LA QUINTA REDEVELOPMENT AGENCY
ADJUSTED
3131/10
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA NO. 1:
LOWIMODERATE TAX FUND:
PERSONNEL
1.100.00
0.00
0.00
1,100,00
SERVICES
372,990.00
249,67790
0,00
123.312.10
BUILDING HORIZONS
0.00
0,00
0.00
000
LQ RENTAL PROGRAM
275,000.00
154,985.10
0.00
120.014.90
2nd TRUST DEED PROGRAM
0.00
0.00
0,00
0.00
BUILDING HORIZONS
250,000.00
0.00
0.00
250.000,00
LAND ACQUISITION
0.00
000
0,00
0.00
LOW MOD HOUSING PROJECTS
0.00
9,000.00
0.00
(9,00000)
FORECLOSURE
172,97900
2.000.00
0.00
170.979.00
REIMBURSEMENT TO GEN FUND
856,961 00
632,684.37
0,00
224,276,63
TRANSFERS OUT
5,055,913.00
4,836,026A5
0.00
219,B86.55
TOTAL LOW/MOD TAX
DEBT SERVICE FUND:
SERVICES
BOND PRINCIPAL
BONDINTEREST
INTEREST CITY ADVANCE
PASS THROUGH PAYMENTS
ERAF SHIFT
TRANSFERS OUT
CAPITAL IMPROVEMENT FUND:
484,400.00
473,766.03
0,00
10,633.97
3,135,00000
3,135,00000
0,00
0.00
7.144,062.00
7,144,062.51
0.00
(0,51)
1,428,33300
998,333.32
0.00
429,999.68
23,526,621.00
8,816,493,06
0.00
14,710,12794
23.560,481.00
0.00
0.00
23.560,481.00
3,961,932.00
3,961,931.94
0.00
0.06
TOTAL DEBT SERVICE
PERSONNEL
1.100.00
0.00
0.00
1.10000
SERVICES
776,600,00
473,266.30
000
303,333.70
LAND ACQUISITION
0,00
0.00
000
0,00
ASSESSMENT DISTRICT
0,00
0.00
000
0.00
ADVERTISING -ECONOMIC DEV
10,000.00
0.00
DO0
10,000.00
ECONOMIC DEVELOPMENT
0,00
0.00
000
0.00
BOND ISSUANCE COSTS
0.00
0.00
000
0,00
CAPITAL -BUILDING
0.00
0.00
0.00
0.00
REIMBURSEMENT TO GEN FUND
387,928.00
288,651.06
0,00
99,276.94
TRANSFERS OUT
42.451,767.00
4" 119.07
0.00
41.990,647.93
TOTAL CAPITAL IMPROVEMENT
•1. 008
K3
LA OUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 2:
LOWIMODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Wash St Apts Interest Income
WSA Fed Govt Assistance Pymts
WSA Fed Govt Interest Rate Subsidy
Developer funding
Wash St Apts Rental Income
Wash St Apts Other Revenues
2nd Trust Deed Repayment
ERAF Shift- Interest
Sale of Land
Transferin
TOTAL LOWIMOD TAX
2004 LOWIMODERATE BOND FUND:
Allocated Interest
Home Sale Proceeds
Non Allocated Interest
Transferin
TOTAL LOWIMOD BOND
DEBT SERVICE FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Interest Advance Proceeds
Transfer in
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
Allocated Interest
Non Allocated Interest
Misc Revenue
Sale of land
Transfers In
TOTAL CAPITAL IMPROVEMENT
07101/2009 - 03131/2010 -
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,411,100.00
2,601,348.57
2,809,751.43
48.070%
98,100.00
56,343.77
41,756.23
57.440%
0.00
0.82
(0.82)
0.000%
3,600.00
1,077.68
2,522.32
29.940%
451,400.00
148.387.00
303,013.00
32.870%
46,800.00
0.00
46,800.00
0,000%
0.00
0.00
0.00
0.000%
163,300.00
58,795.12
104,504.88
36.000%
4,200.00
2,700.20
1,499.80
64.290%
25,000.00
23,444.00
1,556.00
93.780%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
6,203,500.00
2,892,097.16
3,311,402.84
46.620%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
20,000.00
12,095.64
7,904.36
60.480%
0.00
0.00
0.00
0.000%
20,000.00
12,095.64
7,904.36
60,480%
21.644, 500.00
10, 392, 523.29
11, 251, 976.71
48.010%
100,000.00
50,562.76
49,437.24
50.560%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
1,951,399.00
1,951,399.32
(0.32)
100.000%
23,695,899.00
12,394,485.37
11,301,413.63
52.310%
11,400.00
7,269.67
4,130.33
63.770%
9,250.00
1,143.06
8,106.94
12.360%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
2,600,000.00
2,600,000.00
0.00
100.000%
2,620,650.00
2,608,412.73
12,237.27
99.530%
009 4
LA QUINTA REDEVELOPMENT AGENCY
ADJUSTED
3131/10
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA NO.2:
LOW/MODERATE TAX FUND:
PERSONNEL
700.00
0,00
0.00
70000
SERVICES
559,861.00
312,341.92
0.00
247,519,08
WASH ST APTS OTHER EXPENSES
429,300.00
141,333,73
0.00
287,966.27
2ND TRUST DEEDS
000
0.00
000
0.00
LOW MOD HOUSING PROJECTS
3,000.00
0.00
0,00
3,000.00
FORECLOSURE ACQUISITION
250,000.00
000
0.00
250,000,W
VISTA DUNES PARK
000
0.00
0.00
0,00
LAND ACQUISITION
0.00
0.00
0.00
0.00
WSA PRIN/PROVIDENT LOAN
25.325.00
8,194.08
0.00
17,130.92
WSA PRINIUSDA LOAN
10.671.00
0,00
0.00
10,671,00
WSA INTERESTIPROVIDENT LOAN
129,149.00
43.297.40
000
85,851.60
WSA INTERESTIUSDA LOAN
74,611.00
12,79008
0,00
61,820.92
REIMBURSEMENT TO GEN FUND
474,869.00
348.332.82
0.00
126536.18
TRANSFERS OUT
12,177,388.00
2415,48522
0.00
9,761,902,78
TOTAL LOW/MOO TAX
2004 LOW/MODERATE BOND FUND
HOUSING PROGRAMS
824,000,00
618,000.00
000
206,000.00
LAND
0,00
0.00
0.00
0.00
TRANSFERS OUT
731.740,00
(2143702.47)
000
2875442.47
TOTAL LOW/MOD BOND
T,555,7ZGT(T-
[5157a 7�
uQu
3,V61.442.47
DEBT SERVICE FUND:
SERVICES
255,10000
253,227.46
0.00
1,872.54
BOND PRINCIPAL
120,000.00
120,000.00
0.00
0.00
BONDINTEREST
299.550.00
299,550,00
0.00
0.00
INTEREST CITY ADVANCE
1.656.528.00
1,242,396,00
0.00
414,132.00
PASS THROUGH PAYMENTS
18,291.681,00
4,417,929.27
0.00
13,873,757 73
TRANSFERS OUT
4,551399.00
4551399.32
0.00
(0.32)
TOTAL DEBT SERVICE
25,1 m,nu I
979w3VL05�.00
14,,2A.95
CAPITAL IMPROVEMENT FUND:
PERSONNEL
700.00
40.00
0.00
660,00
SERVICES
275,360.00
75201.51
0.00
200,158.49
CAPITAL
000
0,00
0.00
000
ECONOMIC DEVELOPMENT ACTIVITY
000
0.00
0,00
0.00
REIMBURSEMENT TO GEN FUND
64,019.00
47,714,75
0.00
16.304.25
TRANSFERS OUT
3,423.621.00
343,792.39
0.00
3,079,828.61
TOTAL CAPITAL IMPROVEMENT
010