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CC Resolution 2011-004RESOLUTION NO. 2011 - 004 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, APPROVING A FUNDING AGREEMENT FOR FUTURE PUBLIC IMPROVEMENTS AND AFFORDABLE HOUSING IN THE CITY OF LA QUINTA, AND MAKING CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445(a) WITH RESPECT TO THE AGENCY'S EXPENDITURE WHEREAS, the La Quinta Redevelopment Agency ("Agency"), pursuant to Health and Safety Code Section 33445, is authorized to provide funding for the development of publicly owned improvements; and WHEREAS, the City of La Quinta ("City") and Agency mutually desire to enter into a Funding Agreement for Future Public Improvements and Affordable Housing in the City of La Quinta (the "Agreement") to, among other things, set forth their respective obligations with respect to the funding of certain public improvements which are outlined on Exhibit "A" and Exhibit "B" of the Agreement (collectively, the "Public Improvements"1; and WHEREAS, City does not have the funding to plan, design, or build the Public Improvements without Agency funding; and WHEREAS, to ensure that the Public Improvements are completed in a timely manner, the Agency and City wish to enter into the Agreement; and WHEREAS, City, Agency, and the La Quinta Housing Authority wish to ensure the continued provision of affordable housing within the community to serve the needs of existing and future residents who qualify as moderate-income, low- income, and very low-income; and WHEREAS, City has been assigned the following affordable housing obligations pursuant to the Regional Housing Needs Assessment for the years 2008-2014: Very Low-Income - 1,065 dwelling units, Low-Income - 724 Dwelling Units, and Moderate-Income - 796 Dwelling Units; and WHEREAS, to ensure that adequate housing is provided for persons within Moderate-Income, Low-Income, and Very Low-Income households, the Agency wishes to transfer to the City or Authority its future Low- and Moderate-Income Housing Funds that are not previously pledged for other purposes in order to fund the affordable housing projects listed on Exhibit "C" of the Agreement ("Housing Projects"1; and WHEREAS, City and Authority do not have the funding to plan, design, or build the Housing Projects without Agency funding; and Resolution No. 2011-004 Funding Agreement Between City & RDA Adopted: January 78, 2011 Page 2 WHEREAS, to ensure that the Housing Projects are completed in a timely manner and that the City's residents of all income categories have descent, safe and sanitary housing, the Agency desires to fund the Housing Projects through the Agreement. WHEREAS, graffiti is a significant blighting condition within Project Area Nos. 1 and 2; WHEREAS, with other demands on the City's General Fund, its ability to timely and fully remove graffiti within Project Area Nos. 1 and 2 has been impaired; and WHEREAS, the annual cost of graffiti removal in Project Area Nos. 1 and 2 is S 138,000; WHEREAS, the Agency wishes to fund the removal of graffiti in Project Area Nos. 1 and 2 through the execution of the Agreement. NOW THEREFORE, BE IT RESOLVED, by the La Quinta City Council, as follows: SECTION 1. The above Recitations are true and correct. SECTION 2. Pursuant to Health and Safety Code Section 33445(a), the City Council hereby finds and determines that: A. The Public Improvements to be constructed within or contiguous to Project Area No. 1 are of benefit to Project Area No. 1 by helping to eliminate blight within Project Area No. 1, in that said Public Improvements consist of public infrastructure improvements, and the Redevelopment Plan for Project Area No. 1 provides for the elimination and prevention of the spread of blight and blighting influences through the installation, construction, or re-construction of streets, utilities, and other public facilities and improvements. B. The Public Improvements to be constructed within or contiguous to Project Area No. 2 are of benefit to Project Area No. 2 by helping to eliminate blight within Project Area No. 2, in that said Public Improvements consist of public infrastructure improvements and one property acquisition, and the Redevelopment Plan for Project Area No. 2 provides for the elimination and prevention of the spread of blighting influences through the installation, construction, reconstruction, redesign, or reuse of streets, utilities, curbs, gutters, sidewalks, traffic control devices, flood control facilities and other public improvements, and also provides for property acquisition as a means of eliminating and preventing the spread of blighting influences. C. No other reasonable means of financing the Public Improvements are available to the community, for the following reasons: li- City monies are dedicated to critical police, fire, and other necessary expenditures, including Resolution No. 2011-004 Funding Agreement Between City & RDA Adopted: January 16,2011 Page 3 other capital improvement projects; (ii) the only practical means of paying for the Public Improvements is to use Agency funding; (iii) without Agency funding for the Public Improvements, the Public Improvements would not be completed, all to the detriment of Project Area No. 1 and Project Area No. 2. D. The Public Improvements are consistent with the Agency's Implementation Plan adopted pursuant to Health and Safety Code Section 33490 (the "Implementation Plan"), in that improving public infrastructure and facilities within Project Area No. 1 and Project Area No. 2 are goals set forth in the Implementation Plan. SECTION 3. The Agency's expenditure for the Public Improvements is necessary to effectuate the purposes of the Redevelopment Plan for Project Area No. 1 and Project Area No. 2 and is in the best interests of the City of La Quinta. SECTION 4. The Agreement, a copy of which is on file with the City Clerk, is hereby approved and the City Manager is hereby authorized and directed to sign the Agreement. PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City Council held on this 18th day of January, 201 1, by the following vote to wit: AYES: Council Members Evans, Franklin, Henderson, Sniff, Mayor Adolph NOES: None ABSENT: None ABSTAIN: None ATTEST VERONICA,d~'MONTECINO, City of L ulnta, California 1 ~~lJ~ DON AD PH, yor City of La Quinta, California CITY CLERK (City Seal) Resolution No. 2011-004 Funding Agreement Between City & RDA Adopted: January 18, 2011 Page 4 ;~.~ =`<~~ - _,~~\ .---, ~` ;,~ ,, =~- ~~ :~ 'r`~' - ~ -=~- `: ;~ ~~ _~~ _„ APPROVED AS TO FORM: