2011 04 19 RDAeaf 114 4vadja
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, APRIL 19, 2011
4:00 P.M. Open Session
Beginning Resolution No. RA 2011-017
CALL TO ORDER
Roll Call:
Agency Board Members: Adolph, Evans, Franklin, Sniff, Chairperson Henderson
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 — NONE
CONFIRMATION OF AGENDA
APPROVAL OF: MINUTES
APPROVAL OF MINUTES OF APRIL 5, 2011
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 APRIL 19, 2011
'• 00 1
Redevelopment Agency Agenda 1 April 19, 2011
2. RECEIVE AND FILE TREASURER'S REPORT DATED FEBRUARY 28, 2011
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT FOR FEBRUARY
28, 2011 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER
ENDING MARCH 31, 2011
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 May 3,
2011 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.
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 Redevelopment Agency meeting of April 19,
2011, 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 April 15, 2011
DATED:pril '14, 201 1
e�
VERONICA J/ ONTECINO, 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.
0) 2
Redevelopment Agency Agenda 2 April 19, 2011
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GEM OF �qW
RDA MEETING DATE: April 19, 2011
ITEM TITLE: Demand Register Dated
April 19, 2011
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
April 19, 2011 of which $1,298,054.67
AGENDA CATEGORY:
BUSINESS SESSION
CONSENT CALENDAR I
STUDY SESSION
PUBLIC HEARING
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
0 113
E`y OF'TKF'9
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: April 19, 2011
ITEM TITLE: Receive and File Treasurer's Report
dated February 28, 2011
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and file.
BUSINESS SESSION: ^�
CONSENT CALENDAR: !"
STUDY SESSION:
PUBLIC HEARING:
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
of
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FAQ OF TFls'�
COUNCIL/RDA MEETING DATE: April 19, 2011 AGENDA CATEGORY:
ITEM TITLE: Receive and File Revenue and Expenditure BUSINESS SESSION:
Report for February 28, 2011 and Investment CONSENT CALENDAR:
Summary Report for the Quarter Ending March 31,
2011 STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Receive and File the Statement of Revenue and Expenditures for February 28, 2011
and Investment: Summary Report for the Quarter ending March 31, 2011 for the La
Quinta Redevelopment Agency.
Respectfully submitted,
John M. Falconer, Finance Director
0. 0315
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures for February 28, 2011
2. Investment Summary Report dated March 31, 2011
07 6
2
ATTACHMENT 'I
0710112010 - 02128/2011
LA QUINTA REDEVELOPMENT AGENCY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA NO. 1:
LOW/MODERATE TAX FUND:
Tax Increment
8,802,408.00
4,401,203.19
4,401,204.81
50.000%
Allocated Interest
46,800.00
7,289.70
39,510.30
15.580%
Non Allocated Interest
0.00
1,117.53
(1,117.53)
0.000%
Miscellaneous revenue
0.00
0.00
0.00
0.000%
Non Allocated Interest
0.00
0.00
0.00
0.000%
LQRP-Rent Revenue
0.00
0.00
0.00
0.000%
Home Sales Proceeds
150,000.00
0.00
150,000.00
0.000%
Sale of Land
0.00
0.00
0.00
0.000%
Sewer Subsidy Reimbursements
0.00
0.00
0.00
0.000%
Rehabilitation Loan Repayments
0.00
0.00
0.00
0,000%
2nd Trust Deed Repayment
0.00
0.00
0.00
0.000%
Williams Note Payment
23,029.00
23,029.00
0.00
100.000%
Transfer In
40,000.00
40,000.00
0.00
100.000%
TOTAL LOWIMOID TAX
9,062,237.00
4,472,639.42
4,589,597.58
49.350 %
DEBT SERVICE FUND:
Tax Increment
35,209,626.00
17,604,812.73
17,604,813.27
50.000%
Allocated Interest
6,600.00
1,804.10
4,795.90
27.330%
Non Allocated Interest
0.00
1,543.37
(1,543,37)
0.000%
Interest - County loan
0.00
0.00
0.00
0,000%
Interest Advance Proceeds
0.00
0.00
0.00
0.000%
Transfers In
28,378,127.00
18,158,717.07
10,219,409.93
63.990%
TOTAL DEBT SERVICE
63,594.353.00
35,766,877.27
27,827,475.73
56.240%
CAPITAL IMPROVEMENT FUND
Pooled Cash Allocated Interest
113,600.00
56,872.11
56,727.89
50.060%
Non Allocated Interest
25,000.00
15,557.72
9,442.28
62.230%
Developer Agreement Funding
250,000.00
6,499.00
243,501.00
2.600%
Sale of Land Proceeds
0.00
0.00
0.00
0.000%
Rental Income
0.00
0.00
0.00
0.000%
Litigation Proceeds
0.00
0.00
0.00
0.000%
Transfers In
8,900,000.00
0.00
8,900,000.00
0,000%
TOTAL CAPITAL IMPROVEMENT
9,288,600.00
78,928.83
9,209,671.17
0.850%
0' A,
3
LA GUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO. 1:
ADJUSTED OV28111 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
LOW/MODERATE TAX FUND:
PERSONNEL
0.00
0.00
0.00
0.00
SERVICES
373,04D00
202,598.72
0.00
17D441.28
LO RENTAL PROGRAM
0.00
0.00
0.00
000
200 TRUST DEED PROGRAM
000
0.00
0.00
000
HABITAT FOR HUMANITY
250,000.00
0.00
0.00
250,000.00
LAND ACQUISITION
0.00
0.00
0.00
000
LOW MOD HOUSING PROJECTS
0,00
0.00
0.00
0.00
FORECLOSURE
553,10200
4,859.10
0.00
548,242.90
REIMBURSEMENT TO GEN FUND
947,665.00
631,712.00
0.00
315,853.00
TRANSFERS OUT
6891799.610
3,89I,09S6]
0.00
2, 99g70533
TOTAL LOW/MOD TAX
4, 4
4 .
DEBT SERVICE FUND:
SERVICES
486,600.00
386,144.87
000
100,455,13
BOND PRINCIPAL
3, 330, 000.00
3, 330,000.00
0.00
000
BONDINTEREST
6,941,435.00
3,523,119.38
000
3,418,315.62
INTEREST CITY ADVANCE
1, 146,66]. DO
1,146,666.9E
0.00
0.04
PASS THROUGH PAYMENTS
20,190, 059. DO
8,198,61372
0.00
11991445.28
ERAF SHIFT
4,855,193.00
0.00
0.00
4,855,193.00
TRANSFERS OUT
12,863138.00
2,576.126.97
0.00
10,287,011. D3
TOTAL DEBT SERVICE
4 1
,1 1.
10
CAPITAL IMPROVEMENT FUND:
PERSONNEL
0.00
0.DO
0.00
0.00
SERVICES
700,900.00
275,689.02
0.00
425,21098
LANDACOUISITION
0.00
OOD
0.00
0.00
ASSESSMENT DISTRICT
0.00
0.00
0.00
0.00
ADVERTISING -ECONOMIC DEV
0.00
0.00
0.00
000
ECONOMIC DEVELOPMENT
0.00
0.00
0.DO
0.00
BOND ISSUANCE COSTS
0.00
0,00
DOB
0,00
CAPITAL - BUILDING
0.00
0.00
0.DO
BCD
REIMBURSEMENT TO GEN FUND
509,493.00
284, 46400
0.00
225,02900
TRANSFERS OUT
51,871941.00
15,712,96641
0.00
36, 158,972. 59
TOTAL CAPITAL IMPROVEMENT
,08, 4. 0
1 .4
0.
0) 8
rd
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 2:
LOW/MODERATE TAX FUND:
Tax Increment
Allocated Interest
Non Allocated Interest
Wash St Apts Interest Income
WSA Fed Govt Assistance Pymts
WSA Fed Govt Inlerest 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
07/01/2010 •0212812011
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
4,800,480.00
2,400,240.52
2,400,239.48
50.000%
51,700.00
35,028.04
16,671.96
67.750%
2,500.00
342.25
2,157.75
13.690%
3,600.00
381.07
3,218.93
10.590%
451,400.00
297,360.00
154,040.00
65.880%
46,800.00
0.00
46,800.00
0.000%
0.00
0.00
0.00
0.000%
163,300.00
113,168.64
50,131.36
69.300%
4,200.00
2,610.37
1,589.63
62.150%
8,720.00
8,719.00
1.00
99.990%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
5,532,700.00
2,857,849.89
2,674,850.11
51.650%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
8,700.00
4,773.81
3,926.19
54.870%
0.00
0.00
0.00
0.000%
8,700.00
4,773.81
3,926.19
54.870%
19,201,924.00
9,600,962.12
9,600,961.88
50.000%
49,600.00
21,408.98
28,191.02
43.160%
0.00
3,379.34
(3,379,34)
0.000%
0.00
0.00
0.00
0.000%
4,647,648.00
2,264,493.66
2,383,154.34
48.720%
23,899,172.00
11,890,244.10
12,008,927.90
49.750%
10,000.00
5,033.28
4,966.72
50.330%
5,000.00
2,483.62
2,516.38
49.670%
0.00
0.00
0.00
0.000%
0.00
0.00
0.00
0.000%
4,300,000.00
2,600,000.00
1,700,000.00
60.470%
4,315,000.00
2,607,516.90
1,707,483.10
60.430%
a
0A19
5
LA GUINTA REDEVELOPMENT AGENCY
ADJUSTED
02128/11
REMAINING
EXPENDITURE. SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA N0. 2:
LOW/MODERATE TAX FUND:
PERSONNEL
000
0.00
0.00
SERVICES
473,50000
576
219,01291
000
WASH APTSOTHER EXPENSES
429,300.00
219,01000
0.00
210,28709
210,287.09
TRUST
0.00
0.00
0.00
S PROJECTS
LOMOD HOUSING
LOW
3,000.00
3,850.00
000
000
ACQUISITION
FORECLOSURE ACp UISITION
FORECLOSURE
450,00000
000
0,00
,000,00)
450,000.00
VISTA DUNES TARN
0.00
coo
0,00
0.00
LAND ACQUISITION
0.00
0,00
0.90
WSA PRIN/PROVIDENT LOAN
4.10
17648.50
0.00
WSA PRINIUSDA
11,78800
➢888.86
000
413941
4, 13014
WSA INTEREST/PROVIDENT LOAN
26,94900
173,49400
0.00
42
WSA
1846757
16,
0.00
55026.43
BURSE ENTTALOAN
REIMBURSEMENT TO GEN FUND
51,634.00
551,634.00
752,00
36],]52.00
O.Op
83882,00
183,882.00
TRANSFERS OUT
12,546839.00
1538, 165.36
0.00
11,00867364
TOTAL LOWIMOD TAX
14
,1
2004 LOW/MODERATE BOND FUND
-
HOUSING PROGRAMS
0,00
0.00
0.00
0.00
LAND
0,00
000
0,00
0.00
TRANSFERS OUT
75707.00
7O 221.W
0.00
5,485.93
TOTAL LOW/MOD BOND
485
DEBT SERVICE FUND:
SERVICES
274, 000.00
000
58,44472
BOND PRINCIPAL
125, 000.00
125,00000
148,23750
0.00
0.00
0.00
BONDINTEREST
293
0,00
145,034.50
INTEREST CITY ADVANCE
553.00
W1,237.50
000
138,99625
PASS THROUGH PAYMENTS
6,226,
18,199,408.00
4160,79040
4,160,]9000
0.00
12, 038,6000
ERAF SHIFT
0.00
0.00
0.00
0.00
TRANSFERS OUT
6251
3, 868,838.66
0.00
235
TOTAL DEBT SERVICE
431022600
43
7,234
, 44141
140 _
CAPITAL IMPROVEMENT FUND:
PERSONNEL
0.00
0.00
0.00
0.00
SERVICES
172,15000
37,608.34
0.00
134,54000
CAPITAL
0.00
coo9%
000
004
ECONOMIC DEVELOPMENT AGTIVITV
2,
]61.080.00
0,00
1,580,880
REIMBURSEMENT TO GEN FUND
13/81100
131,811.00
51.OBODO
0.00
73104
80,731.00
TRANSFERS OUT
5,671, 16300
1447058.86
0.00
4.1
4,224, 102
TOTAL CAPITAL IMPROVEMENT
6 1 4.
2
004,
O.1. 0 10
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