2011 07 19 RDA160 114 #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, JULY 19, 2011 at 4:00 P.M.
Beginning Resolution No. RA 2011-031
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
1. APPROVAL OF MINUTES OF JULY 5, 2011
REDEVELOPMENT AGENCY AGENDA 1 JULY 19, 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 JULY 19, 2011
2. RECEIVE AND FILE TREASURER'S REPORT DATED MAY 31, 2011
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED MAY 31,
2011 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING
JUNE 30, 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 AUGUST 2,
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.
I
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 JULY
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 JULY 15, 2011.
DATED• JULY 15, 2011
i
'00
VERONICA J. ONTECINO, City Clerk
City of La Quinta, California
REDEVELOPMENT AGENCY AGENDA 2 JULY 19, 2011
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 JULY 19, 2011
T'dr^F44
RDA MEETING DATE: July 19, 2011
ITEM TITLE: Approval of Demand Register Dated
July 19, 2011
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
July 19, 2011 of which $430,619.19
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
LA OUINTA REDEVELOPMENT AGENCY
ADJUSTED
05131111
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
PROJECT AREA NO. 1:
LOWIMODERATE TAX FUND:
-
PERSONNEL
0,00
0.92
0.00
SERVICES
373,04000
298,760.92
0.00
9.08
74,27Dw
LQ RENTAL PROGRAM
0.W
-000
0.00
ODO
20E TRUST DEED PROGRAM
250,000.00
150,00000
0.00
56,000.00
AT FOR HUMANITY
250,000.00
91,443.30
0,00
158,556,70
LAND ACQUISITION
LAD
000
0.00
0,59
LOW MOD HOUSING PROJECTS
0.00
4,59
000
(7,554.59)
FORECLOSURE
237,33700
4,859,10
4,859.10
000
232,477.90
REIMBURSEMENT TO GEN FUND
947,585.00
888,804.00
0.00
78,981.00
TRANSFERS OUT
801956400
65407J598
0.00
1478788.02
TOTAL LOWMOD TAX
DEBT SERVICE FUND:
SERVICES
330,00000
000
100,455.13
BONDPRINCIPAL3,330,000.00
330,000.00
3,330,000.00
000
0.00
T
6,941,435.00
6,941,43501
0.00
(0.01)
INTERS ST CITY ADVANCE
1,146,059.00
0.00
0,1
099
PASS THROUGH PAYMENTS
PASS
24,855,193.00
9,143,82701
14,843,827.01
0.00
598,23am
SHIFT
4,855,193.00
4,855, 193.00
0.00
000
TRANSFERS OUT
12883138.00
'3,963,137.94
0.00
8,900,00006
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
PERSONNEL
0.00
0.00
0.00
0,00
SERVICES
510,722.00
346,768.86
0.W
163,953.14
LAND ACQUISITION
0.00
0.00
0.00
0.00
-
ASSESSMENT DISTRICT
000
0.00
0.00
0,00
ADVERTISING -ECONOMIC DEV
0.00
0.00
0.00
0.00
ECONOMIC DEVELOPMENT
5,821.00
0.00
5,425.25
395.75
BOND ISSUANCE COSTS
0.00
000
0.00
0.00
CAPITAL - BUILDING
000
0.00
0.00
0,00
REIMBURSEMENT TO GEN FUND
509,493.00
391,138,00
0.00
118,355,00
TRANSFERS OUT
51871941.00
19495,742.61
0.00
32376198.39
TOTAL CAPITAL IMPROVEMENT
�,423
3
/1710112010 - 0N3112011
LA OUINTA REDEVELOPMENT AGENCY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA NO. 2:
LOWIMODERATE TAX FUND:
Tax Increment
4,800,480.00
4,822,626.91
(22,146.91)
100.460%
Allocated Interest
51,700,00
55,423.86
(3,72386)
107,200%
Non Allocated Interest
2,500.00
0.00
2,500.00
0.000%
Wash St Arts Interest Income
0.00
0.00
0.00
0.000%
WSA Fed Gout Assistance Pymts
0.00
0,00
0.00
0.000%
WSA Fed Govt Interest Rate Subsidy
0 00
000
0.00
0.000%
Developer funding
0.00
0.00
0.00
0.000%
Wash St Apts Rental Income
0.00
000
0.00
0.000%
Wash St Acts Other Revenues -
0.00
0.00
0,00
0,000%
2nd Trust Deed Repayment
8.720.00
8,719.00
1.00
99.990%
ERAF Shift - Interest
0.00
0.00
0.00
0.000%
Sale of Land
0.00
0.00
0.00
0.000%
Transfer In
0.00
0.00
0.00
0.000%
TOTAL LOWIMOD TAX
4,863,400.00
4.886,769.77
(23.369.77)
100,480%
2004 LOW/MODERATE BOND FUND:
Allocated Interest
0.00
0.00
0.00
0.000%
Home Sale Proceeds
0.00
0.00
0.00
0.000%
Non Allocated Interest
8,700.00
6,184.81
2,515.19
71 090%
Transfer In
0.00
0.00
0.00
0.000%
TOTAL LOWIMOD BOND
8,700.00
6,184.81
2,515.19
71090%
DEBT SERVICE FUND:
Tax Increment
19,201,924.00
19,290,507.73
(68,583.73)
101
Allocated Interest
49,600.00
29,406.26
20,19374
59.290%
Non Allocated Interest
0.00
3,379.34
(3,379.34)
0.000%
Interest Advance Proceeds
0.00
0.00
0.00
0.000%
Transferin
9,935,134.00
8,235,135.25
1,699,998.75
82,890%
TOTAL DEBT SERVICE
29.186,658.00
27.558,428.58
1.628,229.42
94.420%
CAPITAL IMPROVEMENT FUND:
Allocated Interest
10,000.00
6,872.96
3,127,04
68,730%
Non Allocated Interest
5,00000
3,262.59
1,737.41
65.250%
Misc Revenue
000
0.00
0.00
0.000%
Sale of land
3,445,00000
3,445, 001
0,00
100.000%
Transfers In
4,300,000,00
2,600,000,00
1,700,00000
60.470%
TOTAL CAPITAL IMPROVEMENT
7,760,000.00
6,055,135.55
1,704,864,45
78030%
4
LA OUINTA REDEVELOPMENT AGENCY
ADJUSTED
BUDGET
OW31111
EXPENDITURES
ENCUMBERED
REMAINING
BUDGET
EXPENDITURE SUMMARY
PROJECT AREA NO 2'
LOW/MODERATE TAX FUND:
0,00
0.00
0.00
PERSONNEL
SERVICES
.00
470,465.00
397,]62.5555
0.00
]2,]02.45
WASH ST APTS OTHER EXPENSES
O.OU
000
000
0.00
2ND TRUST DEEDS
0.00
0.00
0.00
0.W
LOW MOD HOUSING PROJECTS
6,035,W
9,912 M
0.00
(3,B77.M)
FORECLOSURE ACQUISITION
450,000.W
000
0,00
450,WO,00
VISTA DUNES PARK
000
0,00
0.00
0.00
LAND ACQUISITION
0.DO
0.80
Bw
0.00
WSA PRIN/PROVIDENT LOAN
0.W
1 000
0.00
0.00
WSA PRIN/USDA LOAN
0.DO
0.00
0.00
0.00
WSA INTERESTIPROVIDENT LOAN
0.00
0D0
Dw
OAO
WSA INTEREST/USDA LOAN
0.00
0.D0
0.00
0.00
REIMBURSEMENT TO GEN FUND
551,634.00
W5,659.00
000
- 45,975.00
TRANSFERS OUT
1305595t.00.
2890266.0]
000
10165684.93
- TOTAL LOW/MOD TAX
2004 LOW/MODERATE BOND FUND
0.00
O.W
0.00
0.00
HOUSING PROGRAMS
LAND
000
0.00
0.00
000'
TRANSFERS OUT
3437785.00
70,221.07
0.00
3387543.93
TOTAL LOWMOD BOND
DEBT SERVICE FUND:
SERVICES
274,0D0.00
555.W
0.00
5E,/44]2
BONDPRINCIPAL293,272.00
325,
o.w&W
012
BOND INTEREST
293,M1,00
293,(XG271.88
0,00
0.47
INTEREST CITY ADVANCE
1,994,531.00
094530,53
0.00
04]
PASS THROUGH PAYMENTS
15,999,I00.00
6.214:928,01
18,214,920.01
0.00
(215,52001)
ERAF SHIFT
0.00
0.00
0.00
0.00
TRANSFERS OUT
8251993.00
4551993.32
000
16999998E
TOTAL DEBT SERVICE
24
22
CAPITAL IMPROVEMENT FUND:
0.00
0.86
0.00
0.00
PERSONNEL
SERVICES
172,150D0
e],630w
0.00
86,51 L14
CAPITAL
0.W
0.00
0,00
0.00
ECONOMIC DEVELOPMENT ACTIVITY
2.300.000
2,070.235.00
261,530.8E
REIMBURSEMENT TO GEN FUND
131.1100
131,811.00
]0,235.00
Qw
0.00
81,576.00
5
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RDA MEETING DATE: July 19, 2011
Tar444AZ
AGENDA CATEGORY:
BUSINESS SESSION
ITEM TITLE: Approval of Demand Register Dated CONSENT CALENDAR
July 19, 2011
STUDY SESSION
PUBLIC HEARING
RECOMMENDATION:
It is recommended the Redevelopment Agency Board:
Receive and File the Demand Register Dated
July 19, 2011 of which $596,596.57
represents Redevelopment Agency Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
`nitqro& lw4wmr�,
COUNCIL/RDA MEETING DATE: July 19, 2011
ITEM TITLE: Receive and Transmittal of Treasurer's
Report dated May 31, 2011
RECOMMENDATION:
It is recommended the La Quinta Redevelopment Agency:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Receive and File the Treasurer's Report dated May 31, 2011.
PLEASE SEE BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
cewy,l 4 4P Qularcv
AGENDA CATEGORY:
COUNCHJRDA MEETING DATE: July 19, 2011 BUSINESS SESSION:
ITEM TITLE: Receive and File Transmittal of Revenue CONSENT CALENDAR: 3
and Expenditure Reports dated May 31, 2011 and
Investment Summary Report for the Quarter Ending STUDY SESSION:
June 30, 2011 PUBLIC HEARING:
RECOMMENDATION:
Receive and File.
BACKGROUND AND OVERVIEW:
Receive and File Transmittal of the May 31, 2011 Statement of Revenue and
Expenditures for the La Quinta Redevelopment Agency and Investment Summary
Report for the Quarter Ending June 30, 2011.
Respectfully submitted,
*John. Falc ner, Finance Director
Approved for submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, May 31, 2011
2. Investment Summary for the Quarter Ending June 30, 2011
Al I A(;HMtN 1 -1
07/0112010 •0513 V2011
LA OUINTA REDEVELOPMENT AGENCY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA NO. 1:
LOW/MODERATE TAX FUND:
Tax Increment
8,802,408.00
8,750.092.01
52,315.99
99.410%
Allocated Interest
46,800.00
13,127.55
33,672.45
28.050%
Non Allocated Interest
- 0.00
1,356.06
(1,356.06)
0.000%
Miscellaneous revenue
0.00
0.00
0.00
0,000%
Non Allocated Interest
0.00
0.00
0.00
0.000%
LORP-Rent Revenue
0.00
0.00
0.00
0.000%
Home Sales Proceeds
243,222.00
243,222.04
(0.04)
100,000%
Sale of Land
0.00
0.00
0.00
0.000%
Sewer Subsidy Reimbursements
0.00
779.52
(779.52)
0.000%
Rehabilitation Loan Repayments
0.00
0.00
0.00
0.000%
2nd Trust Deed Repayment
0.00
30.350.00
(30,350.00)
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 LOW/MOD TAX
9,155,459.00
9,101,956.18
53,502,82
99.420%
DEBT SERVICE FUND:
Tax Increment
35.209,626.00 '
35,000,368.02
209,257.98
99,410%
Allocated Interest
6.600.00
6,178,38
421.62
93.610%
Nan 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
28,378.12700
19,478.126,23
6,900,000,77
68.640%
TOTAL DEBT SERVICE
63,594,353.00
54,486,216.00
9, 108,13700
85.680%
CAPITAL IMPROVEMENT FUND
Pooled Cash Allocated Interest
113,600.00
75,846.97
37,753.03
66,770%
Non Allocated Interest
25,000.00
21,988.37
3,011.63
87,950%
Developer Agreement Funding
250,000.00
305.464.69
(55.454.69)
122.180%
Sale of Land Proceeds
4,875,000.00
4,876,000.00
0.00
100.000%
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
0000%
TOTAL CAPITAL IMPROVEMENT
14,163,600.00
5,278,290.03
8.885,309.97
37.270%
7