CC Resolution 2011-011RESOLUTION NO. 2011 — 011
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA AUTHORIZING THE CITY MANAGER TO
ACCEPT CONVEYANCES OF CERTAIN REAL PROPERTY
FROM THE LA QUINTA REDEVELOPMENT AGENCY AND
TO FORGIVE A PORTION OF THE AGENCY'S DEBT TO
THE CITY AS CONSIDERATION FOR CERTAIN OF THE
PROPERTIES
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a
redevelopment agency organized and existing under the California Community
Redevelopment Law ("Health & Safety Code § 33000 et seq.) ("CRL") and has
been authorized to transact business and exercise the powers of a redevelopment
agency pursuant to action of the City Council of the City of La Quinta ("City
Council" or "City," as applicable); and
WHEREAS, with the legislative body's consent and the satisfaction of certain
specified requirements set forth in Health and Safety Code Sections 33445 and
33679, the CRL authorizes redevelopment agencies to expend tax increment funds
to acquire real property for, and to fund the cost of the installation and
construction of, publicly owned buildings, facilities, and improvements; and
WHEREAS, pursuant to the provisions of Health and Safety Code Sections
33445 and 33679, the Agency has acquired ownership of several parcels of real
property developed with public buildings, facilities and/or improvements
(collectively, the "Public Facilities Properties"); and
WHEREAS, the Public Facilities Properties are among the properties listed on
Attachment 1 to this Resolution, which is incorporated herein by this reference;
and
WHEREAS, the Agency has also acquired certain properties that are intended
to be redeveloped by private parties, including the approximately 85 acres of
commercial development pads at SilverRock Resort, and the approximately 10
acres of commercial property located south of Highway 111 and east of Dune
Palms (collectively, the "Private Redevelopment Properties"); and
WHEREAS, the Agency has commissioned appraisals of the current fair
market value of the Private Redevelopment Properties which have not yet been
completed; and
WHEREAS, if the City wishes to accept the Private Redevelopment
Properties, it must pay the Agency the fair market value for the properties; and
Resolution No. 2011-011
Accept the Transfer of NON -Housing Properties from RDA
Adopted: February 15, 2011
Page 2
WHEREAS, the Agency currently has over $39 million in debt owed to the
City; and
WHEREAS, the Agency has authorized its Executive Director, if and when
the Executive Director deems is appropriate, to transfer ownership to the Public
Facilities Properties to the City; and
WHEREAS, City desires to accept such conveyances by the Agency of the
Public Facilities Properties, if and when such conveyances are effectuated; and
WHEREAS, the Agency has authorized its Executive Director, if and when
the Executive Director deems is appropriate, to sell the Private Redevelopment
Properties to the City for their fair market value; and
WHEREAS, City desires to accept such conveyances by the Agency of the
Private Redevelopment Properties, if and when such conveyances are effectuated,
and wishes to provide consideration to the Agency for the Private Redevelopment
Properties at their current fair market value by cancelling a portion of the Agency's
debt to the City in an amount equal to said fair market value.
NOW, THEREFORE, the City Council of the City of La Quinta does hereby
resolve as follows:
SECTION 1. The City hereby accepts the conveyances of the Public Facilities
Properties listed on Attachment 1, at such time as any or all of the conveyances
are effectuated.
SECTION 2. The City hereby accepts the conveyance of the Private Redevelopment
Properties listed on Attachment 1, at such time as any or all of the conveyances
are effectuated, authorizes the City Manager to take the steps necessary to reduce
the Agency's debt to the City in an amount corresponding to the fair market value
of the Private Redevelopment Properties as determined by the updated appraisals,
and further authorizes the City Manager to accept a deed of trust in favor of the
City on the Highway 1 1 1 /Dune Palms property to secure the City's remaining
principal on the loan it made for that property ($7,185,498).
SECTION 3. The City Manager is authorized to accept the conveyances described
in Section 1 and Section 2, at such time as any or all of the conveyances are
effectuated, and to take such other actions and execute such other documents as
may be necessary to implement and effect this Resolution on behalf of the City.
SECTION 4. The City Clerk shall certify to the adoption of this Resolution
-2-
Resolution No. 2011-011
Accept the Transfer of NON -Housing Properties from RDA
Adopted: February 15, 2011
Page 3
PASSED, APPROVED and ADOPTED at a regular meeting of the City Council
of the City of La Quinta held this 15" day of February, 2011.
AYES: Council Members Evans, Franklin, Henderson, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
VERONICA J/MONTECINO, CMC City Clerk
City of La QWnta
(CITY SEAL)
APPROVED AS TO
M jkATHE�INE JE
City of La Quinta
-3-
i
DON ADO PH, M or
City of La Quinta
Resolution No. 2011-011
Accept the Transfer of NON -Housing Properties from RDA
Adopted: February 15, 2011
Page 4
RDA NON -HOUSING PROPERTY
Description
Vacant Land:
Remainder lot purchased to widen Avenue 52
at Calle Sinaloa/Eisenhower Drive
Street Easement located at the SWC Hwy 1 1 1
and Dune Palms Road
Vacant land for future development on Hwy 111
east of Dune Palms Road
Public Properties:
Pioneer Park (Park Centre Pointe on Seeley Drive)
North La Quinta Park
Library parking lot and landscaped lot
west of Senior Center
Village Parking lot
La Quinta Museum
Parking lot behind Police Substation
ME
ATTACHMENT1
Use
Public Improvement
Public Improvement
Private Development
Public Improvement
Public Improvement
Public Improvement
Public Improvement
Public Improvement
Public Improvement
Resolution No. 2011-011
Accept the Transfer of NON -Housing Properties from RDA
Adopted: February 15, 2011
Page 5
SilverRock Resort
Redevelopment Agency- Owned Parcels by Parcel Number
Parcel
Number
Acreage
Use
Lot A
7.41
Public Improvement
Lot B
.47
Public Improvement
Lot C
4.54
Public Improvement
Lot D
2.95
Public Improvement
Lot E
.85
Public Improvement
Lot F
3.44
Public Improvement
Lot G
2.77
Public Improvement
Lot H
3.48
Public Improvement
Lot 9
.59
Public Improvement
Lot 10
55.78
Public Improvement
Lot 12
31.27
Public Improvement
Lot 13
1.17
Public Improvement
Lot 14
3.72
Public Improvement
Lot 15
31.63
Public Improvement
Lot 16
8.94
Public Improvement
Lot 18
73.43
Public Improvement
Lot 20
2.43
Public Improvement
Lot 21
7.15
Public Improvement
Lot 22
1.46
Public Improvement
Total
243.48
Lot 3
19.65
Private Development
Lot 4
.78
Private Development
Lot 5
11.84
Private Development
Lot 6
9.93
Private Development
Lot 8
18.51
Private Development
Lot 11
8.63
Private Development
Lot 19
13.79
Private Development
Lot 23
3.82
Private Development
Total
86.95
Parcel Map
Number 33367
-5-