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2012 01 17 RDARedevelopment Agency agendas and staff reports are available on the City's web page: www.la-quinta.org REDEVELOPMENT AGENCY AGENDA CITY COUNCIL CHAMBERS 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting TUESDAY, JANUARY 17, 2012 AT 4:00 P.M. Beginning Resolution No. RA 2012-001 CALL TO ORDER Roll Call: Board Members: Adolph, Evans, Franklin, Osborne and Chairperson Henderson VERBAL ANNOUNCEMENT — AB23 (CITY CLERK) 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 JANUARY 3, 2012 "^ 001 REDEVELOPMENT AGENCY AGENDA 1 JANUARY 17, 2012 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 JANUARY 17, 2012 2. RECEIVE AND FILE TREASURER'S REPORT DATED NOVEMBER 30, 2011 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED NOVEMBER 30, 2011 AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING DECEMBER 31, 2011 4. ADOPTION OF A RESOLUTION MAKING A DECLARATION UNDER HEALTH AND SAFETY CODE SECTION 33354.8 REGARDING FORGIVENESS OF REPAYMENT OF LOANS, ADVANCES, OR INDEBTEDNESS OF THE LA QUINTA REDEVELOPMENT AGENCY DURING THE PERIOD JANUARY 1, 2010 TO DECEMBER 31, 2011 5. ADOPTION OF A RESOLUTION CONTAINING THE LA QUINTA REDEVELOPMENT AGENCY'S AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE BUSINESS SESSION - NONE STUDY SESSION — NONE CHAIR AND BOARD MEMBERS' ITEMS — NONE PUBLIC HEARINGS — NONE ADJOURNMENT The La Quinta Redevelopment Agency will be dissolved on February 1, 2012 in accordance with AB x1 26, the "Dissolution Act", and the California Supreme Court decision in the California Redevelopment Association v. Matosantos case announced December 30, 2011. to ' 002 REDEVELOPMENT AGENCY AGENDA 2 JANUARY 17,2012 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 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 1 1 1, on January 13, 2012. DATED/ January 13, 2012 VERONICA J.,,MONTECINO, City Clerk City of La Qmta, 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. 0 003 REDEVELOPMENT AGENCY AGENDA 3 JANUARY 17,2012 t 1 I RDA MEETING DATE: January 17, 2012 ITEM TITLE: Approval of Demand Register Dated January 17, 2012 RECOMMENDATION: It is recommended the Redevelopment Agency Board: Receive and File the Demand Register Dated January 17, 2012 of which $10,316.30 represents Redevelopment Agency Expenditures. AGENDA CATEGORY: BUSINESS SESSION CONSENT CALENDAR I STUDY SESSION PUBLIC HEARING PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA " 004 04 � YV s cF� o "tea COUNCHJRDA MEETING DATE: January 17, 2011 AGENDA CATEGORY: ITEM TITLE: Receive and File Treasurer's Report as of BUSINESS SESSION: November 30, 2011 CONSENT CALENDAR: Z STUDY SESSION: PUBLIC HEARING: RECOMMENDATION: It is recommended the Redevelopment Agency Board: Receive and File. PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA 005 , "NERM-m-�.7, COUNCIL/RDA MEETING DATE: January 17, 2012 AGENDA CATEGORY: ITEM TITLE: Receive and File Revenue and Expenditure BUSINESS SESSION: Reports for November 30, 2011 and Investment CONSENT CALENDAR: 3 Summary Report for the Quarter Ending December 31, 2011 STUDY SESSION: _ PUBLIC HEARING: Receive and File. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. BACKGROUND AND OVERVIEW: Transmittal of the November 30, 2011 Statement of Revenue and Expenditures and Investment Summary Report for the Quarter Ending December 31, 2011 for the La Quinta Redevelopment Agency. Respectfully submitted, John M. Falconer, Finance Director '.11 006 Approved for submission by: Mark Weiss, Executive Director Attachments: 1. Revenue and Expenditures Report, November 30, 2011 2. Investment Summary Report for the Quarter Ending December 31, 201 1 LA DUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO 1- - LOWIMODERATE TAX FUND: Tax IncremeM Allocated Interest Non Allocated Interest Miscellaneous revenue Non Allocated Interest Home Sales Proceeds Sale of Land Sewer Subsidy Reimbursements Rehabilitation Loan Repayments 2n l Trust Deed Repayment Williams Note Payment Transfer In TOTAL LOW/MOD TAX DEBT SERVICE FUND: - Tax Ina emenit Allocated Interest Non Allocated Interest Interest - County Loan Interest Advance Proceeds Transfers In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND Pooled Cash Allocated Interest Non Allocated Interest Developer Agreement Funding Sale of Land Proceeds Rental Income Litigation Proceeds Transfers In TOTAL CAPITAL IMPROVEMENT 2011 TAXABLE HOUSING BOND FUND: Peeled Cash Allocated Interest Non Allocated Interest Developer Agreement Funding Sale of Land Proceeds Rental income Litigation Proceeds Transfers In TOTAL 2011 TAXABLE HOUSING BOND A 07101120111 - i V3012011 ' ADJUSTED- REMAINING .. % BIIIIIIbGET RECEIVED BUDGET RECEIVED B,602,400.00 0.00 8,80240000 0.000% 44,600.00 (11,098.49) '55,69849 -24.880% 0.00 443.72 (44372) 0.000% 0.00 1,226,22 (1,226.22) 0.000% 0.00 0.00 - 0.00 - 0.000% 0,00 0.00 0,00 0.000% 0.00 0.00 0,00 0.000%' 0,00 0.00 0.00 -'.'0.000% 0.00 0D0 0Aw 0.000% 0.00 0.00 0A0 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 847,000.00 9,428.55) 8,856,428.55 41.110% 3 ,209,600.00 - 0.00 35.209,600.00 0.000% 3.000,00 (3,947.16) 6.947.16 -131.570% 0.00 0,00 '- 0,000% 0.00 0D0 0.00- _ 0.000% 0,00 0.00 0.00 0.000% 14 288 845.00 3.374 339.28 10,914,505 72 23 620% ' 4 ,501,445.00 3,370,392.12 16, 131052. 68 6.810% _ 25,700A0 (36,972.85) 62,672.86 --143.860% 18, No 00 2.332,50 16,467.50 12.410% 0.00 0.00 - 0,00 0,000% . 0.00 0 w 0.00 o a00% 0.00 0.00 0.00 0.000%. 000 0.00 0.00 . 0.000% " ,000,000.00 0.00 500000000 0000% ,044, 500.00 34640.35) 5,079.140.36 -0.690% 0.00 0.00 0.00 0.000% 0.00 1.592.00 (1, 592.00) -0.000% 0.00 0,00 0.00 0.000% 0.00 0.00 - 0.00 0.000% 0.00 0.00 0.00 -' 0.000% " 0.00 0,00 0,00 0.000% 0.00 - 0.00 0.00 0.000% 0.00 1,592.00 1,592.00 '0.000% "A TTACHMENT1 LA GUINTA REDEVELOPMENT AGENCY ADJUSTED 11/30N1 REMAINING EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET PROJECT AREA NO i' LOW/MODERATE TAX FUND: SERVICES 536,575.00 86,592.03 0.00 449,982.97 2nd TRUST DEED PROGRAM 520,000.00 81,000.00 0.00 439,000.00 HABITAT FOR HUMANITY 300,160.00 5,100.00 0.00 295,060,W LANDACOUISITION DOD 000 0.DO 000 LOW MOD HOUSING PROJECTS 0,00 0.00 0.00 0,00 FORECLOSURE 800, 00000 000 0.00 800,000.00 REIMBURSEMENT TO GEN FUND 791,561.00 329,820.00 0.00 461,74100 TRANSFERS OUT 18,424,645.W 3, 593,802. 59 0.00 14830842.41 TOTAL LOW/MOD TAX DEBT SERVICE FUND: 'SERVICES 411.600.DO 6,381,88 0.00 405.218.12 BOND PRINCIPAL 3,540,000.00 3,540, 000.00 0,00 0,00 BONDINTEREST 6,724,310.00 3,418,315.63 0,00 3,305,994.37 PASS THROUGH PAYMENTS 20,211,350.00 412,909.22 0.00 19, 798,440.78 ERAF SHIFT 0.00 0.00 0,00 0.00 TRANSFERS OUT 1881349800 2,915,671A0 0.00 15,897826.90 TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: SERVICES 205,700.00 42,853.66 0.00 162,846,34 REIMBURSEMENT TO GEN FUND 407,125.00 169,640.00 0.00 237,485W TRANSFERS OUT 24,173,371,00 1]79235.21 0.00 22,31135.71 TOTAL CAPITAL IMPROVEMENT 2011 TAXABLE HOUSING BOND SERVICES 11,000.00 8,978.22 0.00 2,021.78 TRANSFERS OUT 25,514,502. 00 12,06537 0.00 25,50243663 TOTAL 2011 TAXABLE HOUSING BOND N 009 4 07/0112011 - 11/30/2011 LA QUINTA REDEVELOPMENT AGENCY ADJUSTED REMAINING % REVENUE SUMMARY. BUDGET RECEIVED BUDGET RECEIVED PROJECT AREA NO 2- LOW/MODERATE TAX FUND: Tax Increment 4,800,480.00 0.00 4,800,480. 00 0.000% Allocated Interest 60,800.00 (40.572.28) 101,372.2E -66.730% Non Allocated Interest 0.00 0.00 0.00 0.000% Developer funding 0,00 0.00 0,00 0.000% 2nd Trust Deed Repayment 0,00 8,744.99 (8,744.99) 0.000% Sale of Land 0.00 0.00 0.00 0.000% Transfer in 0.00 0.00 0,00 0000% TOTAL LOW/MOD TAX 4,861,280.00 (31827.29) 4893107.29 -0650% 2004 LOWIMODERATE BOND FUND: Allocated Interest 0.00 0.00 0.00 0,000% Home Sale Proceeds 000 0.00 0.00 0.0X)% Non Allocated Interest 4,815.00 135.00 4,680.00 2.800% Transferin 0.00 0.00 0.00 0000% TOTAL LOW/MOD BOND 4815.00 135'00 4,680.00 2800% DEBT SERVICE FUND: Tax Increment 19,201, 924.00 000 19,201,924. 00 0.000% Allocated Interest 200.00 (15,10060) 15,300,60 -7550.300% Non Allocated Interest 0.00 12600 (126.00) 0,000% Interest Advance Proceeds 0,00 000 0.00 0.000% Transfer In _ 7,268632.00 143873662 582989538 19790% TOTAL DEBT SERVICE 26,470, 756.00 1,423,762.02 25,046993. 98 5.380% CAPITAL IMPROVEMENT FUND: Allocated Interest 0.00 18,853.27 (18,863,27) 0.000% Non Allocated Interest 0.00 0.00 0.00 0.000% Misc Revenue 0.00 000 0.00 0.000% Sale of land 0.00 0.00 0.00 0.000% Transfers In 1650000.00 0.00 165000000 0000% TOTAL CAPITAL IMPROVEMENT 1,650.000.00 18,853.27 163L14613 1.140% 2011 TAXABLE NON -HOUSING BOND FUND: Pooled Cash Allocated Interest 0.00 0,00 0.00 0D(X)% Non Allocated Interest 0,00 0.00 0.00 0,000% Developer Agreement Funding 0,00 0.00 - 0.00 0ODO% 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 0.00 0,00 0.00 0.000% TOTAL 2011 TAXABLE NON -HOUSING BOND 0.00 0.00 000 0.000% :N 010 5 LA OUINTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 2: LOW/MODERATE TAX FUND: ADJUSTED 1113W11 REMAINING BUDGET EXPENDITURES ENCUMBERED BUDGET SERVICES 330,470A0 37,991.58 0.00 292,47842 2ND TRUST DEEDS 0.00 0.00 0.00 0,00 LOW MOD HOUSING PROJECTS 3,000.00 0.G0 0,00 3,000.W FORECLOSURE ACQUISITION 450,000.00 0.00 0.00 450,000.OD REIMBURSEMENT TO GEN FUND 448,49000 186,870.W 0.00 261,620.00 TRANSFERS OUT 19,370,21600 2023928.86 01 46 173287.14 TOTAL LOWIMOD TAX 20M LOWMODERATE BOND FUND HOUSING PROGRAMS 0.00 0.00 0.00 0.00 LAND 0.00 0.00 Dw 0.00 TRANSFERS OUT 3,307, 155.00 110,898,27 0.00 3,196,256,73 TOTAL LOW/MOD BOND DEBT SERVICE FUND: SERVICES 255,100.00 3,025,00 0.00 252,075,00 BOND PRINCIPAL 380,000.00 130,000,00 0,00 250,000,00 BOND INTEREST 633,843,00 252,757,07 0,00 381,085,93 PASS THROUGH PAYMENTS 16,137,29800 0,00 0,00 16,137,298,W ' ERAF SHIFT 0.00 0,00 0,00 0.00 TRANSFERS OUT 8,918,632.00 1436,07680 0.00 ]482555.20 TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: SERVICES 99,845.00 3 908,65 0,00 64.936.36 CAPITAL 0.00 0,00 0.00 0,00 REIMBURSEMENT TO GEN FUND 117,587.00 48,99500 0.00 68.592.00 TRANSFERS OUT 1905451.00 867,954.91 0,00 1,037,496,09 TOTAL CAPITAL IMPROVEMENT 2011 RDA 2 TAXABLE BOND FUND: SERVICES 11.500.00 8,491,31 0.00 3,008.69 ECONOMIC DEVELOPMENT 1,500,000,00 0,00 0.00 .1,500,000.00 TRANSFERS OUT 2,420.286.DO 2659.82 000 2,417.626.18 TOTAL RDA NO. 2 TAXABLE BOND oil 0 c > AIIR§Hmt:■I 2 {) \\(\ \z__ &ff wo I)]!! \)))� ..2M222 \ts }\} \\\0 \ :\0 §- .. 7\ § ygE y. .. \ -6 \ \ / z E . -) m» \ \tj -s E ° ) ( / { z, {\/) { \{« }} \ƒ/\ 7� ) ]\\0 \ k }\ }> Q.c ) �)) \E \�!) k�# � ^ ! ! )(\ \\ . #\j! AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Making a Declaration under Health and Safety Code Section CONSENT CALENDAR: 33354.8 Regarding Forgiveness of Repayment of Loans, STUDY SESSION: Advances, or Indebtedness of the La Quinta Redevelopment Agency During the Period January 1, PUBLIC HEARING: 2010 to December 31, 2011 RECOMMENDATION: Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 2011. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. KGROUND AND OVERVIEW: AB 936, signed into law this past summer, requires disclosure related to loans from cities and housing authorities to redevelopment agencies. Cities and Housing Authorities must adopt a resolution prior to February 1, 2012 declaring whether or not they have forgiven, during the period of time between January 1, 2010 and December 31, 2011, the total or partial repayment of any loans, advances, or indebtedness that had been owed by the redevelopment agency. The La Quinta Redevelopment Agency, during the above -stated time period, has not forgiven the repayment, in whole or in part, of a loan, advance, or indebtedness that has been owed by a public body to the Agency. A resolution has been prepared making this finding; the Health and Safety Code requires a copy of the resolution be transmitted to the State Controller within ten days of adoption. -'" 013 FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 2. Do not Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 3. Provide staff with alternative direction. Respectfully submitted, "-) Debbie Powell Economic Development/Housing Manager Approved for submission by: V""C' -U— (�1-- Mark Weiss, Interim Executive Director 014 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY MAKING A DECLARATION UNDER HEALTH AND SAFETY CODE SECTION 33354.8 THAT, DURING THE PERIOD FROM JANUARY 1, 2010, TO DECEMBER 31, 2011, THE AGENCY HAS NOT FORGIVEN THE REPAYMENT, WHOLLY OR PARTIALLY, OF ANY LOAN, ADVANCE, OR INDEBTEDNESS OWED TO THE AGENCY BY A PUBLIC BODY WHEREAS, the La Quinta Redevelopment Agency, a public body, corporate and politic ("Agency"), is the redevelopment agency performing redevelopment functions within the territorial limits of the City of La Quinta pursuant to the California Community Redevelopment Law (Health & Safety Code § 33000, et seq.); and WHEREAS, the City of La Quinta ("City") is a municipal corporation and charter city organized and existing under the Constitution of the State of California; and WHEREAS, the California Community Redevelopment Law, pursuant to Section 33354.8 of the California Health and Safety Code, requires that the Agency adopt a resolution after January 1, 2012 and prior to February 1; 2012, declaring whether or not it has forgiven, during the period of time commencing January 1, 2010, and ending December 31, 2011, the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body; and WHEREAS, Section 33354.8 of the California Health and Safety Code also requires that within ten (10) days after the adoption of the resolution, the Agency transmit a copy of the resolution to the legislative body and the California State Controller. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Based upon the best knowledge of Agency staff and the Agency Board of Directors, during the period between January 1, 2010, and December 31, 2011, the Agency has not forgiven the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body. 015 Resolution No. RA 2012- Declaring Loan Forgiveness From the city Adopted: January 17, 2012 Page 2 PASSED, APPROVED, AND ADOPTED at a regular meeting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency 4 016 4 lwR9&rw AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Containing the CONSENT CALENDAR: 5 La Quinta Redevelopment Agency's, Amended STUDY SESSION: Enforceable Obligation Payment Schedule PUBLIC HEARING: RECOMMENDATION: Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency. FISCAL IMPLICATIONS: None for this action. The purpose of adopting the Enforceable Obligation Payment Schedule is to provide the listing to the successor agency (in this case, the City of La Quinta), so that pledges of revenues associated with enforceable obligations of the former redevelopment agency are honored. BACKGROUND AND OVERVIEW: On December 29, 2011, the California Supreme Court upheld ABx1 26 (the "Dissolution Act") which dissolves redevelopment agencies effective February 1, 2012. The Dissolution Act requires cities to adopt an Enforceable Obligation Payment Schedule, which is then submitted to the successor agency. During summer 2011, in response to a lawsuit challenging A13x1 26, the California Supreme Court issued a stay and ordered all redevelopment agencies to produce and adopt an Enforceable Obligation Payment Schedule for the period of August 2011 through December 2011, and later a Preliminary Draft of an Initial Recognized Obligation Payment Schedule for the period of January 2012 through June 2012. The Schedule is required to list all of a redevelopment agency's monetary " 017 obligations that are "enforceable" within the meaning of the Dissolution Act and must include, for each obligation: (A) The project name associated with the obligation. (B) The payee. (C) A short description of the nature of the work, product, service, facility, or other thing of value for which payment is to be made. (D) The amount of payments obligated to be made, by month, from January through June 2012. (E) The funding source for the obligation. The La Quinta Redevelopment Agency adopted the above -listed schedules in August and September 2011. The RDA is required to consider any appropriate amendments to its previously adopted Enforceable Obligation Payment Schedule. ABx1 26 disallows most agreements between the City and the Agency. Unfortunately, the agreements between the City, the Housing Authority, and the Agency that commit future redevelopment funds to undefined future capital improvement and housing projects are not considered enforceable agreements under the new law. The previously adopted schedules for La Quinta did include those agreements. The updated Schedule, which is part of the attached resolution, has been amended to delete those agreements, delete agreements that have been fulfilled, correct estimated project expenditures on existing agreements, and add the Agency's commitment to USDA -Rural Development to rehabilitate the Washington Street Apartment project. The amended Schedule will be presented to the successor agency (City of La Quinta). The City will then prepare a preliminary Initial Recognized Obligation Payment Schedule, which will eventually be reviewed by an Oversight Board for approval and payment of listed obligations. FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency; or It , 018 2. Do not adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule; or 3. Provide staff with alternative direction. Respectfully submitted, Debbie Powell, Economic Development/Housing Manager Approved for submission by: Mark Weiss, Interim Executive Director 019 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY ADOPTING AN AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE WHEREAS, the City Council of the City of La Quinta ("City Council" or "City," as applicable) approved and adopted (i) the Redevelopment Plan for La Quinta Project Area No. 1 ("Project Area No. 1 " or "Project Area No. 1 Redevelopment Plan," as applicable) on November 29, 1983, by Ordinance No. 43, as amended on December 20, 1994, by Ordinance No. 258, on August 19, 2003, by Ordinance No. 388, and on March 16, 2004, by Ordinance No. 402; and (ii) the Redevelopment Plan for La Quinta Redevelopment Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan," as applicable) on May 16, 1989, by Ordinance No. 139, as amended on December 20, 1994, by Ordinance No. 259, on February 3, 2004, by Ordinance No. 399, on March 16, 2004, by Ordinance No. 403, and on March 16, 2004, by Ordinance No. 404; and WHEREAS, the La Quinta Redevelopment Agency ("Agency") is engaged in activities to execute and implement the Project Area No. 1 Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively, the "Redevelopment Plans") pursuant to the provisions of the California Community Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and WHEREAS, as part of the 2011-12 State budget bill, the California Legislature enacted and the Governor signed, companion bill ABx1 26 requiring that each redevelopment agency be dissolved; and WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1 27 has been filed in the California Supreme Court by the California Redevelopment Association, the League of California Cities, and two individual cities; and WHEREAS, on December 29, 2011, the Court upheld ABx1 26; and WHEREAS, Health and Safety Code Section 34169 requires redevelopment agencies prepare and adopt an "enforceable recognized obligation payment schedule" that lists all obligations of the redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period of January 2012 through June 2012; and WHEREAS, Health & Safety Code Section 34169 requires redevelopment agencies to provide the "enforceable obligation payment schedule" to the successor agency, so that pledges of revenues associated with enforceable obligations of the former redevelopment agencies are honored; and .. to 020 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 2 WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Adoption of an Enforceable Obligation Payment Schedule. In order to enable the Agency and the City as successor agency to strictly comply with ABx1 26, and based on the Recitals set forth above, the Agency hereby adopts the Schedule attached hereto as Exhibit A as the Agency's updated Enforceable Obligation payment schedule. Section 3. Implementation. The Agency Board hereby authorizes and directs the Interim Executive Director to take any action and execute any documents necessary to implement this Resolution, and further authorizes the Interim Executive Director to forward the updated enforceable obligation payment schedule and the previously adopted preliminary draft of the Recognized Enforceable Obligation Schedule to the . Section 4. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Agency Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. PASSED, APPROVED, AND ADOPTED a t the me eting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: n 021 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 3 Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency ..a 022 AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Making a Declaration under Health and Safety Code Section CONSENT CALENDAR: 33354.8 Regarding Forgiveness of Repayment of Loans, STUDY SESSION: Advances, or Indebtedness of the La Quinta Redevelopment Agency During the Period January 1, PUBLIC HEARING: 2010 to December 31, 2011 RECOMMENDATION: Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 2011. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. KGROUND AND OVERVIEW: AB 936, signed into law this past summer, requires disclosure related to loans from cities and housing authorities to redevelopment agencies. Cities and Housing Authorities must adopt a resolution prior to February 1, 2012 declaring whether or not they have forgiven, during the period of time between January 1, 2010 and December 31, 2011, the total or partial repayment of any loans, advances, or indebtedness that had been owed by the redevelopment agency. The La Quinta Redevelopment Agency, during the above -stated time period, has not forgiven the repayment, in whole or in part, of a loan, advance, or indebtedness that has been owed by a public body to the Agency. A resolution has been prepared making this finding; the Health and Safety Code requires a copy of the resolution be transmitted to the State Controller within ten days of adoption. -'" 013 FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 2. Do not Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 3. Provide staff with alternative direction. Respectfully submitted, "-) Debbie Powell Economic Development/Housing Manager Approved for submission by: V""C' -U— (�1-- Mark Weiss, Interim Executive Director 014 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY MAKING A DECLARATION UNDER HEALTH AND SAFETY CODE SECTION 33354.8 THAT, DURING THE PERIOD FROM JANUARY 1, 2010, TO DECEMBER 31, 2011, THE AGENCY HAS NOT FORGIVEN THE REPAYMENT, WHOLLY OR PARTIALLY, OF ANY LOAN, ADVANCE, OR INDEBTEDNESS OWED TO THE AGENCY BY A PUBLIC BODY WHEREAS, the La Quinta Redevelopment Agency, a public body, corporate and politic ("Agency"), is the redevelopment agency performing redevelopment functions within the territorial limits of the City of La Quinta pursuant to the California Community Redevelopment Law (Health & Safety Code § 33000, et seq.); and WHEREAS, the City of La Quinta ("City") is a municipal corporation and charter city organized and existing under the Constitution of the State of California; and WHEREAS, the California Community Redevelopment Law, pursuant to Section 33354.8 of the California Health and Safety Code, requires that the Agency adopt a resolution after January 1, 2012 and prior to February 1; 2012, declaring whether or not it has forgiven, during the period of time commencing January 1, 2010, and ending December 31, 2011, the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body; and WHEREAS, Section 33354.8 of the California Health and Safety Code also requires that within ten (10) days after the adoption of the resolution, the Agency transmit a copy of the resolution to the legislative body and the California State Controller. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Based upon the best knowledge of Agency staff and the Agency Board of Directors, during the period between January 1, 2010, and December 31, 2011, the Agency has not forgiven the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body. 015 Resolution No. RA 2012- Declaring Loan Forgiveness From the city Adopted: January 17, 2012 Page 2 PASSED, APPROVED, AND ADOPTED at a regular meeting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency 4 016 4 lwR9&rw AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Containing the CONSENT CALENDAR: 5 La Quinta Redevelopment Agency's, Amended STUDY SESSION: Enforceable Obligation Payment Schedule PUBLIC HEARING: RECOMMENDATION: Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency. FISCAL IMPLICATIONS: None for this action. The purpose of adopting the Enforceable Obligation Payment Schedule is to provide the listing to the successor agency (in this case, the City of La Quinta), so that pledges of revenues associated with enforceable obligations of the former redevelopment agency are honored. BACKGROUND AND OVERVIEW: On December 29, 2011, the California Supreme Court upheld ABx1 26 (the "Dissolution Act") which dissolves redevelopment agencies effective February 1, 2012. The Dissolution Act requires cities to adopt an Enforceable Obligation Payment Schedule, which is then submitted to the successor agency. During summer 2011, in response to a lawsuit challenging A13x1 26, the California Supreme Court issued a stay and ordered all redevelopment agencies to produce and adopt an Enforceable Obligation Payment Schedule for the period of August 2011 through December 2011, and later a Preliminary Draft of an Initial Recognized Obligation Payment Schedule for the period of January 2012 through June 2012. The Schedule is required to list all of a redevelopment agency's monetary " 017 obligations that are "enforceable" within the meaning of the Dissolution Act and must include, for each obligation: (A) The project name associated with the obligation. (B) The payee. (C) A short description of the nature of the work, product, service, facility, or other thing of value for which payment is to be made. (D) The amount of payments obligated to be made, by month, from January through June 2012. (E) The funding source for the obligation. The La Quinta Redevelopment Agency adopted the above -listed schedules in August and September 2011. The RDA is required to consider any appropriate amendments to its previously adopted Enforceable Obligation Payment Schedule. ABx1 26 disallows most agreements between the City and the Agency. Unfortunately, the agreements between the City, the Housing Authority, and the Agency that commit future redevelopment funds to undefined future capital improvement and housing projects are not considered enforceable agreements under the new law. The previously adopted schedules for La Quinta did include those agreements. The updated Schedule, which is part of the attached resolution, has been amended to delete those agreements, delete agreements that have been fulfilled, correct estimated project expenditures on existing agreements, and add the Agency's commitment to USDA -Rural Development to rehabilitate the Washington Street Apartment project. The amended Schedule will be presented to the successor agency (City of La Quinta). The City will then prepare a preliminary Initial Recognized Obligation Payment Schedule, which will eventually be reviewed by an Oversight Board for approval and payment of listed obligations. FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency; or It , 018 2. Do not adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule; or 3. Provide staff with alternative direction. Respectfully submitted, Debbie Powell, Economic Development/Housing Manager Approved for submission by: Mark Weiss, Interim Executive Director 019 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY ADOPTING AN AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE WHEREAS, the City Council of the City of La Quinta ("City Council" or "City," as applicable) approved and adopted (i) the Redevelopment Plan for La Quinta Project Area No. 1 ("Project Area No. 1 " or "Project Area No. 1 Redevelopment Plan," as applicable) on November 29, 1983, by Ordinance No. 43, as amended on December 20, 1994, by Ordinance No. 258, on August 19, 2003, by Ordinance No. 388, and on March 16, 2004, by Ordinance No. 402; and (ii) the Redevelopment Plan for La Quinta Redevelopment Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan," as applicable) on May 16, 1989, by Ordinance No. 139, as amended on December 20, 1994, by Ordinance No. 259, on February 3, 2004, by Ordinance No. 399, on March 16, 2004, by Ordinance No. 403, and on March 16, 2004, by Ordinance No. 404; and WHEREAS, the La Quinta Redevelopment Agency ("Agency") is engaged in activities to execute and implement the Project Area No. 1 Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively, the "Redevelopment Plans") pursuant to the provisions of the California Community Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and WHEREAS, as part of the 2011-12 State budget bill, the California Legislature enacted and the Governor signed, companion bill ABx1 26 requiring that each redevelopment agency be dissolved; and WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1 27 has been filed in the California Supreme Court by the California Redevelopment Association, the League of California Cities, and two individual cities; and WHEREAS, on December 29, 2011, the Court upheld ABx1 26; and WHEREAS, Health and Safety Code Section 34169 requires redevelopment agencies prepare and adopt an "enforceable recognized obligation payment schedule" that lists all obligations of the redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period of January 2012 through June 2012; and WHEREAS, Health & Safety Code Section 34169 requires redevelopment agencies to provide the "enforceable obligation payment schedule" to the successor agency, so that pledges of revenues associated with enforceable obligations of the former redevelopment agencies are honored; and .. to 020 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 2 WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Adoption of an Enforceable Obligation Payment Schedule. In order to enable the Agency and the City as successor agency to strictly comply with ABx1 26, and based on the Recitals set forth above, the Agency hereby adopts the Schedule attached hereto as Exhibit A as the Agency's updated Enforceable Obligation payment schedule. Section 3. Implementation. The Agency Board hereby authorizes and directs the Interim Executive Director to take any action and execute any documents necessary to implement this Resolution, and further authorizes the Interim Executive Director to forward the updated enforceable obligation payment schedule and the previously adopted preliminary draft of the Recognized Enforceable Obligation Schedule to the . Section 4. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Agency Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. PASSED, APPROVED, AND ADOPTED a t the me eting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: n 021 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 3 Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency ..a 022 o w en w an c g O con w i�C 8' QQ gg $ o E r QQ QQ a w qq ih g ww w H Vsi Vi M R W 9 f9 R W W �� O O 8 Lr s� § N y� C IL lL 41 u: LL O S m w 5a1 X EL €�.� "boo, E ms 23 Taa T�$Y9 'y'Eg E V -TompL �9c a' � 'c K. mEKZx� 8j t7 a F s$ E -M N,�d N a�i 3$i d98v� E'.to 023 o w en w an c g O con w i�C 8' QQ gg $ o E r QQ QQ a w qq ih g ww w H Vsi Vi M R W 9 f9 R W W �� O O 8 Lr s� § N y� C IL lL 41 u: LL O S m w 5a1 X EL €�.� "boo, E ms 23 Taa T�$Y9 'y'Eg E V -TompL �9c a' � 'c K. mEKZx� 8j t7 a F s$ E -M N,�d N a�i 3$i d98v� E'.to 023 G # § & . i 7 \ a / a a m E 4 m & . m 7 a # $ # Ld Ld [ £ i k k § 2 § { .2 §$7\\!\ • 7!. \ } \! / ) k\ |#|2a§ƒf!-;2 ! 7�■t!!=ou \ ° .�;E )2-f-tEa i\i/k7Im :2 024 \ § # - ! 7 § \ # t E, a } ) & !-! ,})) ` •« � ;, «;;#r §k|®r !!;, CT as , AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Making a Declaration under Health and Safety Code Section CONSENT CALENDAR: 33354.8 Regarding Forgiveness of Repayment of Loans, STUDY SESSION: Advances, or Indebtedness of the La Quinta Redevelopment Agency During the Period January 1, PUBLIC HEARING: 2010 to December 31, 2011 RECOMMENDATION: Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 2011. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. KGROUND AND OVERVIEW: AB 936, signed into law this past summer, requires disclosure related to loans from cities and housing authorities to redevelopment agencies. Cities and Housing Authorities must adopt a resolution prior to February 1, 2012 declaring whether or not they have forgiven, during the period of time between January 1, 2010 and December 31, 2011, the total or partial repayment of any loans, advances, or indebtedness that had been owed by the redevelopment agency. The La Quinta Redevelopment Agency, during the above -stated time period, has not forgiven the repayment, in whole or in part, of a loan, advance, or indebtedness that has been owed by a public body to the Agency. A resolution has been prepared making this finding; the Health and Safety Code requires a copy of the resolution be transmitted to the State Controller within ten days of adoption. -'" 013 FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 2. Do not Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 3. Provide staff with alternative direction. Respectfully submitted, "-) Debbie Powell Economic Development/Housing Manager Approved for submission by: V""C' -U— (�1-- Mark Weiss, Interim Executive Director 014 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY MAKING A DECLARATION UNDER HEALTH AND SAFETY CODE SECTION 33354.8 THAT, DURING THE PERIOD FROM JANUARY 1, 2010, TO DECEMBER 31, 2011, THE AGENCY HAS NOT FORGIVEN THE REPAYMENT, WHOLLY OR PARTIALLY, OF ANY LOAN, ADVANCE, OR INDEBTEDNESS OWED TO THE AGENCY BY A PUBLIC BODY WHEREAS, the La Quinta Redevelopment Agency, a public body, corporate and politic ("Agency"), is the redevelopment agency performing redevelopment functions within the territorial limits of the City of La Quinta pursuant to the California Community Redevelopment Law (Health & Safety Code § 33000, et seq.); and WHEREAS, the City of La Quinta ("City") is a municipal corporation and charter city organized and existing under the Constitution of the State of California; and WHEREAS, the California Community Redevelopment Law, pursuant to Section 33354.8 of the California Health and Safety Code, requires that the Agency adopt a resolution after January 1, 2012 and prior to February 1; 2012, declaring whether or not it has forgiven, during the period of time commencing January 1, 2010, and ending December 31, 2011, the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body; and WHEREAS, Section 33354.8 of the California Health and Safety Code also requires that within ten (10) days after the adoption of the resolution, the Agency transmit a copy of the resolution to the legislative body and the California State Controller. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Based upon the best knowledge of Agency staff and the Agency Board of Directors, during the period between January 1, 2010, and December 31, 2011, the Agency has not forgiven the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body. 015 Resolution No. RA 2012- Declaring Loan Forgiveness From the city Adopted: January 17, 2012 Page 2 PASSED, APPROVED, AND ADOPTED at a regular meeting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency 4 016 4 lwR9&rw AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Containing the CONSENT CALENDAR: 5 La Quinta Redevelopment Agency's, Amended STUDY SESSION: Enforceable Obligation Payment Schedule PUBLIC HEARING: RECOMMENDATION: Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency. FISCAL IMPLICATIONS: None for this action. The purpose of adopting the Enforceable Obligation Payment Schedule is to provide the listing to the successor agency (in this case, the City of La Quinta), so that pledges of revenues associated with enforceable obligations of the former redevelopment agency are honored. BACKGROUND AND OVERVIEW: On December 29, 2011, the California Supreme Court upheld ABx1 26 (the "Dissolution Act") which dissolves redevelopment agencies effective February 1, 2012. The Dissolution Act requires cities to adopt an Enforceable Obligation Payment Schedule, which is then submitted to the successor agency. During summer 2011, in response to a lawsuit challenging A13x1 26, the California Supreme Court issued a stay and ordered all redevelopment agencies to produce and adopt an Enforceable Obligation Payment Schedule for the period of August 2011 through December 2011, and later a Preliminary Draft of an Initial Recognized Obligation Payment Schedule for the period of January 2012 through June 2012. The Schedule is required to list all of a redevelopment agency's monetary " 017 obligations that are "enforceable" within the meaning of the Dissolution Act and must include, for each obligation: (A) The project name associated with the obligation. (B) The payee. (C) A short description of the nature of the work, product, service, facility, or other thing of value for which payment is to be made. (D) The amount of payments obligated to be made, by month, from January through June 2012. (E) The funding source for the obligation. The La Quinta Redevelopment Agency adopted the above -listed schedules in August and September 2011. The RDA is required to consider any appropriate amendments to its previously adopted Enforceable Obligation Payment Schedule. ABx1 26 disallows most agreements between the City and the Agency. Unfortunately, the agreements between the City, the Housing Authority, and the Agency that commit future redevelopment funds to undefined future capital improvement and housing projects are not considered enforceable agreements under the new law. The previously adopted schedules for La Quinta did include those agreements. The updated Schedule, which is part of the attached resolution, has been amended to delete those agreements, delete agreements that have been fulfilled, correct estimated project expenditures on existing agreements, and add the Agency's commitment to USDA -Rural Development to rehabilitate the Washington Street Apartment project. The amended Schedule will be presented to the successor agency (City of La Quinta). The City will then prepare a preliminary Initial Recognized Obligation Payment Schedule, which will eventually be reviewed by an Oversight Board for approval and payment of listed obligations. FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency; or It , 018 2. Do not adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule; or 3. Provide staff with alternative direction. Respectfully submitted, Debbie Powell, Economic Development/Housing Manager Approved for submission by: Mark Weiss, Interim Executive Director 019 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY ADOPTING AN AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE WHEREAS, the City Council of the City of La Quinta ("City Council" or "City," as applicable) approved and adopted (i) the Redevelopment Plan for La Quinta Project Area No. 1 ("Project Area No. 1 " or "Project Area No. 1 Redevelopment Plan," as applicable) on November 29, 1983, by Ordinance No. 43, as amended on December 20, 1994, by Ordinance No. 258, on August 19, 2003, by Ordinance No. 388, and on March 16, 2004, by Ordinance No. 402; and (ii) the Redevelopment Plan for La Quinta Redevelopment Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan," as applicable) on May 16, 1989, by Ordinance No. 139, as amended on December 20, 1994, by Ordinance No. 259, on February 3, 2004, by Ordinance No. 399, on March 16, 2004, by Ordinance No. 403, and on March 16, 2004, by Ordinance No. 404; and WHEREAS, the La Quinta Redevelopment Agency ("Agency") is engaged in activities to execute and implement the Project Area No. 1 Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively, the "Redevelopment Plans") pursuant to the provisions of the California Community Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and WHEREAS, as part of the 2011-12 State budget bill, the California Legislature enacted and the Governor signed, companion bill ABx1 26 requiring that each redevelopment agency be dissolved; and WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1 27 has been filed in the California Supreme Court by the California Redevelopment Association, the League of California Cities, and two individual cities; and WHEREAS, on December 29, 2011, the Court upheld ABx1 26; and WHEREAS, Health and Safety Code Section 34169 requires redevelopment agencies prepare and adopt an "enforceable recognized obligation payment schedule" that lists all obligations of the redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period of January 2012 through June 2012; and WHEREAS, Health & Safety Code Section 34169 requires redevelopment agencies to provide the "enforceable obligation payment schedule" to the successor agency, so that pledges of revenues associated with enforceable obligations of the former redevelopment agencies are honored; and .. to 020 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 2 WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Adoption of an Enforceable Obligation Payment Schedule. In order to enable the Agency and the City as successor agency to strictly comply with ABx1 26, and based on the Recitals set forth above, the Agency hereby adopts the Schedule attached hereto as Exhibit A as the Agency's updated Enforceable Obligation payment schedule. Section 3. Implementation. The Agency Board hereby authorizes and directs the Interim Executive Director to take any action and execute any documents necessary to implement this Resolution, and further authorizes the Interim Executive Director to forward the updated enforceable obligation payment schedule and the previously adopted preliminary draft of the Recognized Enforceable Obligation Schedule to the . Section 4. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Agency Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. PASSED, APPROVED, AND ADOPTED a t the me eting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: n 021 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 3 Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency ..a 022 o w en w an c g O con w i�C 8' QQ gg $ o E r QQ QQ a w qq ih g ww w H Vsi Vi M R W 9 f9 R W W �� O O 8 Lr s� § N y� C IL lL 41 u: LL O S m w 5a1 X EL €�.� "boo, E ms 23 Taa T�$Y9 'y'Eg E V -TompL �9c a' � 'c K. mEKZx� 8j t7 a F s$ E -M N,�d N a�i 3$i d98v� E'.to 023 o w en w an c g O con w i�C 8' QQ gg $ o E r QQ QQ a w qq ih g ww w H Vsi Vi M R W 9 f9 R W W �� O O 8 Lr s� § N y� C IL lL 41 u: LL O S m w 5a1 X EL €�.� "boo, E ms 23 Taa T�$Y9 'y'Eg E V -TompL �9c a' � 'c K. mEKZx� 8j t7 a F s$ E -M N,�d N a�i 3$i d98v� E'.to 023 G # § & . i 7 \ a / a a m E 4 m & . m 7 a # $ # Ld Ld [ £ i k k § 2 § { .2 §$7\\!\ • 7!. \ } \! / ) k\ |#|2a§ƒf!-;2 ! 7�■t!!=ou \ ° .�;E )2-f-tEa i\i/k7Im :2 024 \ § # - ! 7 § \ # t E, a } ) & !-! ,})) ` •« � ;, «;;#r §k|®r !!;, CT as , ° § ; � i } | ) } & § ! ! » \ \ ( } © & ! & Z` # {, ®( 2 ! E § _ \ !3 }!,» \) \ i !!${!�» „ ,`! b f�l�|k® k\§)/k79 k= \ (/E §\ ! k ,_ ,!!! !fEl. F11`;• ! §) !!.a „ o �.;. !�_® // 026 ° § ; � i } | ) } & § ! ! » \ \ ( } © & ! & Z` # {, ®( 2 ! E § _ \ !3 }!,» \) \ i !!${!�» „ ,`! b f�l�|k® k\§)/k79 k= \ (/E §\ ! k ,_ ,!!! !fEl. F11`;• ! §) !!.a „ o �.;. !�_® // 026 AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Making a Declaration under Health and Safety Code Section CONSENT CALENDAR: 33354.8 Regarding Forgiveness of Repayment of Loans, STUDY SESSION: Advances, or Indebtedness of the La Quinta Redevelopment Agency During the Period January 1, PUBLIC HEARING: 2010 to December 31, 2011 RECOMMENDATION: Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 2011. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. KGROUND AND OVERVIEW: AB 936, signed into law this past summer, requires disclosure related to loans from cities and housing authorities to redevelopment agencies. Cities and Housing Authorities must adopt a resolution prior to February 1, 2012 declaring whether or not they have forgiven, during the period of time between January 1, 2010 and December 31, 2011, the total or partial repayment of any loans, advances, or indebtedness that had been owed by the redevelopment agency. The La Quinta Redevelopment Agency, during the above -stated time period, has not forgiven the repayment, in whole or in part, of a loan, advance, or indebtedness that has been owed by a public body to the Agency. A resolution has been prepared making this finding; the Health and Safety Code requires a copy of the resolution be transmitted to the State Controller within ten days of adoption. -'" 013 FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 2. Do not Adopt a Resolution of the Redevelopment Agency making a declaration under Health and Safety Code Section 33354.8 regarding forgiveness of repayment of loans, advances, or indebtedness owed to La Quinta Redevelopment Agency by a public body during the Period January 1, 2010 to December 31, 201 1; or 3. Provide staff with alternative direction. Respectfully submitted, "-) Debbie Powell Economic Development/Housing Manager Approved for submission by: V""C' -U— (�1-- Mark Weiss, Interim Executive Director 014 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY MAKING A DECLARATION UNDER HEALTH AND SAFETY CODE SECTION 33354.8 THAT, DURING THE PERIOD FROM JANUARY 1, 2010, TO DECEMBER 31, 2011, THE AGENCY HAS NOT FORGIVEN THE REPAYMENT, WHOLLY OR PARTIALLY, OF ANY LOAN, ADVANCE, OR INDEBTEDNESS OWED TO THE AGENCY BY A PUBLIC BODY WHEREAS, the La Quinta Redevelopment Agency, a public body, corporate and politic ("Agency"), is the redevelopment agency performing redevelopment functions within the territorial limits of the City of La Quinta pursuant to the California Community Redevelopment Law (Health & Safety Code § 33000, et seq.); and WHEREAS, the City of La Quinta ("City") is a municipal corporation and charter city organized and existing under the Constitution of the State of California; and WHEREAS, the California Community Redevelopment Law, pursuant to Section 33354.8 of the California Health and Safety Code, requires that the Agency adopt a resolution after January 1, 2012 and prior to February 1; 2012, declaring whether or not it has forgiven, during the period of time commencing January 1, 2010, and ending December 31, 2011, the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body; and WHEREAS, Section 33354.8 of the California Health and Safety Code also requires that within ten (10) days after the adoption of the resolution, the Agency transmit a copy of the resolution to the legislative body and the California State Controller. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Based upon the best knowledge of Agency staff and the Agency Board of Directors, during the period between January 1, 2010, and December 31, 2011, the Agency has not forgiven the repayment, wholly or partially, of a loan, advance, or indebtedness that has been owed to the Agency by a public body. 015 Resolution No. RA 2012- Declaring Loan Forgiveness From the city Adopted: January 17, 2012 Page 2 PASSED, APPROVED, AND ADOPTED at a regular meeting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Agency Counsel La Quinta Redevelopment Agency 4 016 4 lwR9&rw AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: January 17, 2012 BUSINESS SESSION: ITEM TITLE: Adoption of a Resolution Containing the CONSENT CALENDAR: 5 La Quinta Redevelopment Agency's, Amended STUDY SESSION: Enforceable Obligation Payment Schedule PUBLIC HEARING: RECOMMENDATION: Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency. FISCAL IMPLICATIONS: None for this action. The purpose of adopting the Enforceable Obligation Payment Schedule is to provide the listing to the successor agency (in this case, the City of La Quinta), so that pledges of revenues associated with enforceable obligations of the former redevelopment agency are honored. BACKGROUND AND OVERVIEW: On December 29, 2011, the California Supreme Court upheld ABx1 26 (the "Dissolution Act") which dissolves redevelopment agencies effective February 1, 2012. The Dissolution Act requires cities to adopt an Enforceable Obligation Payment Schedule, which is then submitted to the successor agency. During summer 2011, in response to a lawsuit challenging A13x1 26, the California Supreme Court issued a stay and ordered all redevelopment agencies to produce and adopt an Enforceable Obligation Payment Schedule for the period of August 2011 through December 2011, and later a Preliminary Draft of an Initial Recognized Obligation Payment Schedule for the period of January 2012 through June 2012. The Schedule is required to list all of a redevelopment agency's monetary " 017 obligations that are "enforceable" within the meaning of the Dissolution Act and must include, for each obligation: (A) The project name associated with the obligation. (B) The payee. (C) A short description of the nature of the work, product, service, facility, or other thing of value for which payment is to be made. (D) The amount of payments obligated to be made, by month, from January through June 2012. (E) The funding source for the obligation. The La Quinta Redevelopment Agency adopted the above -listed schedules in August and September 2011. The RDA is required to consider any appropriate amendments to its previously adopted Enforceable Obligation Payment Schedule. ABx1 26 disallows most agreements between the City and the Agency. Unfortunately, the agreements between the City, the Housing Authority, and the Agency that commit future redevelopment funds to undefined future capital improvement and housing projects are not considered enforceable agreements under the new law. The previously adopted schedules for La Quinta did include those agreements. The updated Schedule, which is part of the attached resolution, has been amended to delete those agreements, delete agreements that have been fulfilled, correct estimated project expenditures on existing agreements, and add the Agency's commitment to USDA -Rural Development to rehabilitate the Washington Street Apartment project. The amended Schedule will be presented to the successor agency (City of La Quinta). The City will then prepare a preliminary Initial Recognized Obligation Payment Schedule, which will eventually be reviewed by an Oversight Board for approval and payment of listed obligations. FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule ("Schedule"), and authorize the transmission of the updated Schedule and the previously adopted preliminary draft Recognized Obligation Payment Schedule to the City as the successor agency to the Agency; or It , 018 2. Do not adopt a Resolution containing the La Quinta Redevelopment Agency's Amended Enforceable Obligation Payment Schedule; or 3. Provide staff with alternative direction. Respectfully submitted, Debbie Powell, Economic Development/Housing Manager Approved for submission by: Mark Weiss, Interim Executive Director 019 RESOLUTION NO. RA 2012 - A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY ADOPTING AN AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE WHEREAS, the City Council of the City of La Quinta ("City Council" or "City," as applicable) approved and adopted (i) the Redevelopment Plan for La Quinta Project Area No. 1 ("Project Area No. 1 " or "Project Area No. 1 Redevelopment Plan," as applicable) on November 29, 1983, by Ordinance No. 43, as amended on December 20, 1994, by Ordinance No. 258, on August 19, 2003, by Ordinance No. 388, and on March 16, 2004, by Ordinance No. 402; and (ii) the Redevelopment Plan for La Quinta Redevelopment Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan," as applicable) on May 16, 1989, by Ordinance No. 139, as amended on December 20, 1994, by Ordinance No. 259, on February 3, 2004, by Ordinance No. 399, on March 16, 2004, by Ordinance No. 403, and on March 16, 2004, by Ordinance No. 404; and WHEREAS, the La Quinta Redevelopment Agency ("Agency") is engaged in activities to execute and implement the Project Area No. 1 Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively, the "Redevelopment Plans") pursuant to the provisions of the California Community Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and WHEREAS, as part of the 2011-12 State budget bill, the California Legislature enacted and the Governor signed, companion bill ABx1 26 requiring that each redevelopment agency be dissolved; and WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1 27 has been filed in the California Supreme Court by the California Redevelopment Association, the League of California Cities, and two individual cities; and WHEREAS, on December 29, 2011, the Court upheld ABx1 26; and WHEREAS, Health and Safety Code Section 34169 requires redevelopment agencies prepare and adopt an "enforceable recognized obligation payment schedule" that lists all obligations of the redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period of January 2012 through June 2012; and WHEREAS, Health & Safety Code Section 34169 requires redevelopment agencies to provide the "enforceable obligation payment schedule" to the successor agency, so that pledges of revenues associated with enforceable obligations of the former redevelopment agencies are honored; and .. to 020 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 2 WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment Agency, as follows: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Adoption of an Enforceable Obligation Payment Schedule. In order to enable the Agency and the City as successor agency to strictly comply with ABx1 26, and based on the Recitals set forth above, the Agency hereby adopts the Schedule attached hereto as Exhibit A as the Agency's updated Enforceable Obligation payment schedule. Section 3. Implementation. The Agency Board hereby authorizes and directs the Interim Executive Director to take any action and execute any documents necessary to implement this Resolution, and further authorizes the Interim Executive Director to forward the updated enforceable obligation payment schedule and the previously adopted preliminary draft of the Recognized Enforceable Obligation Schedule to the . Section 4. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Agency Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. PASSED, APPROVED, AND ADOPTED a t the me eting of the La Quinta Redevelopment Agency held this 17th of January, 2012, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: n 021 Resolution No. RA 2012- Adoption of Enforceable Obligations Payment Schedule Adopted: January 17, 2012 Page 3 Terry Henderson, Chair La Quinta Redevelopment Agency ATTEST: VERONICA MONTECINO, CMC, Agency Secretary La Quinta Redevelopment Agency (AGENCY SEAL) APPROVED AS TO FORM: M. 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