2010 06 03 HA~ ~~~
Redevelopment Agency agendas are
available on the City' web page
dal www.la-quinta.o~g
HOUSING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
ADJOURNED MEET/NG
THURSDAY, JUNE 3, 2010 - 3:00 P.M.
Beginning Resolution No. HA 2010-
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Franklin, Henderson, Sniff, and Chairperson Evans
PUBLIC COMMENT
At this time, members of the public may address the Housing Authority 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
CONSENT CALENDAR -NONE
BUSINESS SESSION
1. CONSIDERATION OF FISCAL YEAR 2010-2011 PRELIMINARY BUDGET.
A. MINUTE ORDER ACTION
Housing Authority Agenda 1 June 3, 2010
ADJOURNMENT
The next regular meeting of the Housing Authority will be held on June 15, 2010,
commencing at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico,
La Quinta, CA 92253.
DECLARATION OF POSTING
I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that
the foregoing agenda for the La Quinta Housing Authority adjourned meeting of
June 3, 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 111, on May 28, 2010.
DATED: ay 28, 2010
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VERONICA J. NTECINO, City Clerk
City of La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Housing Authority 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.
Housing Authority Agenda 2 June 3, 2010
COUNCIL/RDA MEETING DATE: June 3, 2010 AGENDA CATEGORY:
BUSINESS SESSION:
ITEM TITLE: COnSlderatlOn Of FISCaI Year 201 0-201 1
Preliminary Budget CONSENT CALENDAR: _
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Adopt the Fiscal Year 2010-201 1 Preliminary Budget and direct staff to prepare a
Fiscal Year 2010-201 1 Final Budget for the July 6, 2010 La Quinta Housing Authority
Meeting.
FISCAL IMPLICATIONS:
All Preliminary Fiscal Year 2010-2011 revenues, and operational appropriations are
included in this Preliminary Budget. Revenues and transfers in are estimated to be
$408,750 and expenditures are estimated to be $402,100 in the Fiscal Year 2010-
2011 budget.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Introduction
On September 15, 2009, the City Council adopted Resolution No. 2009-075
establishing the La Quinta Housing Authority (the "Housing Authority") and declaring
that the City Council will serve as the Housing Authority's governing body pursuant to
the Housing Authorities Law (California Health and Safety Code Section 34200 et
seq.)
Two project areas Project Area (PA 1) and PA 2 have been established to account for
the financial activities of the Authority. These Project Areas are similar to PA 1 and
PA 2 in the La Quinta Redevelopment Agency (RDAI.
Housing Authorities Law determined the Housing Authority's responsibilities may
include, but are not limited to the following areas:
• Lease or rent any dwellings, houses, accommodations, lands, buildings,
structures, or facilities embraced in any housing project and establish and
revise the rents or charges for them;
• Own, hold, and improve real or personal property;
• Purchase, lease, obtain option upon, acquire by gift, grant, bequest, devise,
or otherwise, any real or personal property or any interest in property;
• Acquire any real property by eminent domain;
• Sell, lease, exchange, transfer, assign, pledge, or dispose of any real or
personal property of any interest in it;
• Investigate living and housing conditions so as to improve such conditions;
• Determine where there is a shortage of decent, safe, and sanitary
accommodations for persons of low income;
• Make studies and recommendations relating to the problem of providing
dwelling accommodations for persons of low income;
• Engage in research, studies, and experimentation on the subject of housing;
• Adopt and announce regulations for a plan and selection of applicants to
assure equal opportunity and nondiscrimination on the grounds of race, color,
or national origin;
• Conduct an audit at least once a year by a certified public accountant or a
public accountant.
Revenues
The La Quinta Housing Program, which has previously been accounted for in PA 1
of the RDA Low and Moderate Income Fund will be moved to the new Housing
Authority PA 1 Fund. The revenues and expenditures from the La Quinta Housing
Authority come from the Cove Homes that are rented out to eligible persons and
managed by La Quinta Palms Realty.
Transfers
Since the revenues are anticipated to be less than the expenditures for the Housing
Authority transfers of $192,750 from PA 1 RDA Low and Moderate Income
Housing Funds are being requested from funds from the La Quinta Housing Program
which has an available balance of $772,000.
Expenditures
The expenditures which consist of Housing Board and Commission monthly
payments, professional expenses, and the aforementioned expenditures in operating
the La Quinta Housing Program will be incurred.
Advances
In the event deficits are incurred in the beginning years of the Authority, advances
may be made by either the City or the Redevelopment Agency pursuant to
Resolution HA 2009-002 dated October 6, 2009. Advances from the
Redevelopment Agency have been made in Fiscal Year 2009-2010 to fund the
Housing Authority deficits and are estimated to be 534,650 at the end of Fiscal
Year 2009-2010. These advances are being charged the interest earnings rate
from the Investment Pool. These advances are expected to be repaid in Fiscal Year
2010-201 1 from La Quinta Rental Program once these activities are transferred to
the Housing Authority in July 2010. It is anticipated that no advances will to
necessary in Fiscal Year 2010-201 1.
FINDINGS AND ALTERNATIVES:
Staff is requesting:
1) Review and comment on the Fiscal Year 2010-2011 La Quinta Housing
Authority Preliminary Budget and provide direction regarding any proposed
changes to the document; and
2) Approval of the Fiscal Year 2010-2011 Fiscal Year La Quinta Housing
Authority Preliminary Budget as amended at the June 3, 2010, La Quinta
Housing Authority Meeting. (Any approved changes by the Authority to be
incorporated into the Final Budget for adoption on July 6, 2010.)
Respectfully submitted,
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John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director