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Housing Authority agendas and staff reports
are available on the City's web site:
www.la-quinta.org
HOUSING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
TUESDAY, FEBRUARY 21, 2012 AT 4:00 P.M.
Beginning Resolution No. HA 2012-003
CALL TO ORDER
Roll Call:
Board Members: Adolph, Franklin, Henderson, Osborne and Chairperson Evans
VERBAL ANNOUNCEMENT — AB 23 [CITY CLERK]
PUBLIC COMMENT
At this time members of the public may address the Housing Authority on any matter not
listed on the agenda. Please complete a "request to speak" form and limit your comments
to three minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF MINUTES OF JANUARY 17, 2012
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HOUSING AUTHORITY AGENDA 1 FEBRUARY 21, 2012
T CALENDAR
NOTE:I Consent Calendar items are routine in nature and will be approved by one motion.
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AL OF DEMAND REGISTER DATED FEBRUARY 21, 2012
EIVE AND FILE TREASURER'S REPORT DATED DECEMBER 31, 2011
ECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
ECEMBER 31, 2011
let 01
IDERATION OF MID -YEAR BUDGET
— NONE
'ITEMS — NONE
t regular meeting of the Housing Authority will be held on March 20, 2012
p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA
DECLARATION OF POSTING
I, Susan Maysels, Interim City Clerk of the City of La Quinta, do hereby declare
that the foregoing agenda for the La Quinta Housing Authority 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 February 17,
2012.
DATED: February 17, 2012
SUSAN MAYSELS, Interim City Clerk
City ofl La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Housing Authority regarding any
item oni 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.
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AUTHORITY AGENDA
2
FEBRUARY 21. 2012
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AGENDA CATEGORY:
HOUSING AUTHORITY MEETING DATE: February 21, 2012
ITEM TITLE: Approval Of Demand Register Dated BUSINESS SESSION: '
February 21, 2012 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Housing Authority Board:
Receive and File the Demand Register Dated
February 21, 2012 of which $2,165.50
represents Housing Authority Expenditures.
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
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AGENDA CATEGORY:
COUNCILIRDA MEETING DATE: February 21, 2012 BUSINESS SESSION: _
ITEM TITLE: Receive and File Treasurer's Report CONSENT CALENDAR:
dated December 31, 2011 —
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Housing Authority:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
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AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: February 21, 2012
BUSINESS SESSION:
ITEM TITLE: Receive and File Transmittal of Revenue
and Expenditure Reports dated December 31, 2011 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Receive and File
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Transmittal of the December 31, 2011 Statement of Revenue and Expenditures for
the City of La Quinta Housing Authority.
Respectfully submitted,
cv
John M. Falconer, Finance Director
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0710112011-1213112011
LA QUINTA HOUSING AUTHORITY ADJUSTED REMAINING %
REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED
PROJECT AREA NO 1 HOUSING AUTHORITY
Proceeds From Home Sale
590.000.00
278,472,52
311.527.48
47.200 %
Allocated Interest Income
3,800.00
1.472.79
2,327.21
38.760 %
Rental Income
240,000.00
144,916.89
95.083.11
60.380%
Transfer In
0.00
0.00
0.00
0,000% .
TOTAL LQ HOUSING AUTHORITY PA 1
833.800.00
424.862.20
408,937.80
50.950 %
PROJECT AREA NO 2 HOUSING AUTHORITY
WSA Fed Govt Assistance Pymts
451,400.00
184.220,00
267,180.00
40.810%
WSA Fed Govt Interest Rate Subsidy
46,800.00
0.00
46,800.00
0,000%
WSA Interest Income
0.00
0.00
0.00
0.000%
WSA Non Allocated Interest Income
1.090.00
354.15
735.85
32.490%
WSA Rental Income
163,300.00
75,145.00
88,155.00
46.020%
WSA Other Revenues
3.700.00
1,427.08
2,272.92
38.570%
Transfer In
0,00
0.00
0.00
0.000%
TOTAL LO HOUSING AUTHORITY PA 2
666,290.00
261, 146.23
405,143.77
39.190%
N. 007
LA OUINTA HOUSING AUTHORITY
EXPENDITURE SUMMARY
ADJUSTED 12131111 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
PROJECT AREA NO 1 HOUSING AUTHORITY
SERVICES
18,112.00
1,573.33
16,538.67
2ND TRUST DEED PROGRAM
375,000.00
0.00
375,000.00
FORECLOSURE ACQUISITION
0.00
0.00
HOUSING DEVELOPMENT PROGRAM
350,000.00
81,783.W
268,216A4
TRANSFER OUT
0,00
000
TOTAL PROJECT AREA NO 1 HOUSING AUTHORITY
PROJECT AREA NO 2 HOUSING AUTHORITY
SERVICES
22, 512.00
4,873,33
17,63867
WASH ST APTS EXPENSES
W2, 710.00
137, 554.24
225,155.76
WSA PRIN/PROVIDENT LOAN
29,917.00
12,163.07
17,753,93
WSA PRIN/USDA LOAN
12,915,00
5,225,42
7,689.58
WSA INTEREST/PROVIDENT LOAN
124, 558.00
52,201,28
72,356.72
WSA INTERESTIUSDA LOAN
72,367.00
10,762,18
61,604.82
WSA ADVANCE INTEREST EXPENSE
000
1771
(17.71)
TOTAL PROJECT AREA NO 2 HOUSING AUTHORITY
624,979,00
222,
TOTAL HOUSING AUTHORITY
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AGENDA CATEGORY:
COUNCIURDA MEETING DATE: February 21, 2012 BUSINESS SESSION:
CONSENT CALENDAR:
ITEM TITLE: Consideration of the Mid -Year Budget STUDY SESSION:
Report for Fiscal Year 2011 /2012 PUBLIC HEARING:
RECOMMENDATION:
Approve an increase in appropriations, totaling $65,000 in Housing Authority
Project Area 1 as outlined in Attachment No.1.
Receive and file the Mid -Year Budget Report for Fiscal Year 201 1 /2012.
FISCAL IMPLICATIONS:
One mid -year item is being requested from Housing Authority PA 1 for $65,000 to
rehabilitate a recently purchased foreclosed home at 53-645 Avenida Navarro.
This request would come from unallocated reserves Account Number 241-0000-
290.00-00.
In addition, since the Housing Authority PA 2 Fund does not have revenues to
offset its expenses it has been relying on an advance from Housing Authority PA 1.
The outstanding balance on this advance is $9,219 as of December 31, 2011.
BACKGROUND AND OVERVIEW:
A comprehensive report is prepared annually at mid -year to inform the Housing
Authority Board of any changes in the financial position of the Authority that would
require their attention.
The Mid -Year Budget Report involves a financial assessment of Authority
operations. This report provides information on the Housing Authority revenues,
operations, any capital projects and requests for budget transfers and/or new
appropriations. Attachment 2 is the revenue and expenditure detail for the Housing
Authority.
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FINDINGS AND ALTERNATIVES:
The alternatives available to the Housing Authority include:
1. Approve an appropriation of $65,000 from the Housing Authority Project
Area No. 1 Fund as outlined in Attachment 1; and receive and file the Mid -
Year Budget; or
2 Do not approve an appropriation of $65,000 from the Housing Authority
Project Area No. 1 Fund as outlined in Attachment 1; and receive and file
the Mid -Year Budget; or
3. Provide staff with alternative direction.
Respectfully submitted,
John M. Falconer, Finance Director
Approved for submission by:
Mark Weiss, Interim Executive Director
Attachments: 1. Mid -Year Review Budget Worksheet — Housing Authority
Appropriation Request
2. Housing Authority Revenues and Expenditures through
December 31, 2011
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