2012 06 19 HA5
cFy OF
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 I La Quinta, California
REGULAR MEETING
TUESDAY, JUNE 19, 2012 AT 4:00 P.M.
Beginning Resolution No. HA 2012-005
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 JUNE 5, 2012
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1. APPROVAL OF DEMAND REGISTER DATED JUNE 19, 2012
2. RECEIVE AND FILE TREASURER'S REPORT DATED APRIL 30, 2012
001
HOUSING AUTHORITY AGENDA 1 JUNE 19, 2012
3. RECEIVE AND FILE.REVENUE AND EXPENDITURE REPORT DATED APRIL
30, 2012
4. ADOPTION OF A RESOLUTION ADOPTING THE INVESTMENT POLICY OF
THE CITY OF LA QUINTA FOR FISCAL YEAR 2012/2013
BUSINESS SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
ADJOURNMENT
iF iF iF iFMiF iF iFNMYYNNiF 1F iF iFY KiY■iF%if iE MlF if iF iF iFNNNN1F iF4
The next regular meeting of the Housing Authority will be held on July 17, 2012 at
4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA
92253.
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 111, on June 15, 2012.
DATED: June 14, 2012
SUSAN MAYSELS, erim ity Clerk
City of La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Housing Authority 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.
HOUSING AUTHORITY AGENDA 2 JUNE 19, 2012 002
HOUSING AUTHORITY MEETING DATE: June 19, 2012
ITEM TITLE: Approval of Demand Register Dated
June 19, 2012
It is recommended the Housing Authority Board:
Receive and File the Demand Register Dated
June 19, 2012 of which $1,949.65
represents Housing Authority Expenditures.
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA
- if 003
Tar 4 44"
CITY/SA HA4A MEETING DATE: June 19, 2012 AGENDA CATEGORY:
ITEM TITLE: Receive and File Treasurer's Report dated BUSINESS SESSION:
April 30, 2012
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Housing Authority:
Receive and File.
PLEASE SEE RELATED CONSENT SESSION ITEM ON CITY COUNCL AGENDA
-� 004
AGENDA CATEGORY:
CITY/SA HW/FA MEETING DATE: June 19, 2012 BUSINESS SESSION: _
ITEM TITLE: Receive and File Revenue and Expenditure CONSENT CALENDAR:
Report dated April 30, 2012
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Receive and File the April 30, 2012 Statement of Revenue and Expenditures for the
La Quinta Housing Authority.
Respectfully submitted,
John M. Falconer, Finance Director
Attachment:
1
Revenue and
Approved for submission by:
Executive Director
Report, April 30, 2012
005
ATTACHMENT
07/0112011-04/3012012
LA OUINTA HOUSING AUTHORITY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA NO I HOUSING AUTHORITY
Proceeds From Home Sale
5W.W0.00
278,472.52
311,527,46
47.200%
Allocated Interest Income
3,800.W
2,35866
1,443.34
62.00%
Non Allocated Interest Income
000
317.93
(317.83)
0.000%
Rental Income
240,000.00
250,222.69
(10,222.89)
104.260%
2nd Trust Deed Repayments
0.00
50,000.00
(5g000.00)
0.000%
Transfer In -
2,035,388.00
2,067,559.23
(32,171.23)
101.680%
TOTAL LO HOUSING AUTHORITY PA 1
2.869188.00
2P648,929.13
220 258 87
92 320%
PROJECT AREA NO 2 HOUSING AUTHORITY
WSA Fed Govt Assistance Pymts
451,400.00
332,147,00
119,253.00
71580%
WSA Fed GoA Interest Rate Subsidy
46, WOW
0.00
46,600.00
0.000%
WSA Interest Income
0,00
0.00
0.00
0.000%
WSA Nan Allocated Interest Income
1,09000
475,14
614,86
43,590%
WSA Rental Income
163,300.00
1W,837.00
27,463.W
83.180%
WSA Other Revenues
3,700,00
1.%5.89
1,734,11
53,130%
Transfer In
0.W
0.00
0.00
0.000%
TOTAL LO HOUSING AUTHORITY PA 2 666.290.00 470425.03 19586497 706W%
006 2
LA OUINTA HOUSING AUTHORITY
ADJUSTED
41="12
REMAINING
EXPENDITURE SUMMARY
BUDGET
EXPENOITURES ENCUMBERED
BUDGET
PROJECT AREA NO 1 HOUSING AUTHORITY
SERVICES
2ND TRUST DEED PROGRAM
18,122.00
375,000.00
1,9W,33
16,12367
FORECLOSURE ACQUISITION
65.IX0.00
0.00
375,01)),W
HOUSING DEVELOPMENT PROGRAM
35),"00
147.637.28
65,000.00
202,362.72
TRANSFER OUT
000
000
TOTAL PROJECT AREA NO 1 HOUSING AUTHORITY
PROJECT AREA NO 2 HOUSING AUTHORITY
SERVICES
WASHSTAPTSEXPENSES
22,52200
W2,710.00
7,902.58
14,619.42
WSA PRINIPROVIDENT LOAN
29.917,00
244,W0.13
22.202.13
117,729.87
7.714.87
WSA PRINIUSDA LOAN
WSA INTERESTRROVIDENT L
12.915.W
9,56413
3,350.27
WSA INTERESTNSDA LOAN
124,558,00
72,367.00
93,653.70
19,212,95
W,90430
WSA ADVANCE INTEREST EX
0.00
29.69
53,154,05
TOTAL PROJECT AREA NO 2 HOUSING AUTHORITY
2969
TOTAL HOUSING AUTHORITY
u 007 3
Fd
ce4ty/ 4 Zito Qumrcv
CFa OF T�
CITY/SA H� A MEETING DATE: June 19, 2012 AGENDA CATEGORY:
ITEM TITLE: Adoption of a Resolution Adopting the BUSINESS SESSION:
Investment Policy of the City of La Quinta for Fiscal CONSENT CALENDAR:
Year 2012/2013
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution of the City Council approving the Investment Policy for the La
Quinta Housing Authority for Fiscal Year 2012/2013.
PLEASE SEE CONSENT SESSION ITEM ON CITY COUNCIL AGENDA
we e
RESOLUTION NO. HA 2012-
A RESOLUTION OF THE LA QUINTA HOUSING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE AMENDED INVESTMENT POLICY
FOR FISCAL YEAR 2012-2013
WHEREAS, the general purpose of the Investment Policy is to provide the rules
and standards users must follow in investing funds of the City of La Quinta; and
WHEREAS, the primary objectives, in order of priority, of the City of La Quinta's
investment activity shall be:
Safety of principal is the foremost objective of the investment program.
Investments of the City of La Quinta shall be undertaken in a manner that seeks
to ensure the preservation of capital in the overall portfolio.
The investment portfolio shall remain sufficiently liquid to meet all operating
requirements that may be reasonably anticipated.
The investment portfolio shall be designed with the objective of attaining a
market rate of return or iy eld throughout budgetary and economic cycles, taking
into account the investment risk constraints and liquidity needs; and
WHEREAS, authority to manage the City of La Quinta's investment portfolio is
derived from the City Ordinance. Management responsibility for the investment
program is delegated to the City Treasurer, who shall establish and implement written
procedures for the operation of the City's investment program consistent with the
Investment Policy for Fiscal Year 2012-2013; and
WHEREAS, the Investment Policy will be adopted before the end of June of
each year and amended as considered necessary.
NOW, THEREFORE, BE IT RESOLVED by the Housing Authority of the City of La
Quinta to adopt the Fiscal Year Investment Policy (Exhibit A).
009
Resolution No. HA 2012-
Investment Policy
Adopted: June 19, 2012
Page 2 of 3
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Financing Authority, held on this 19" day of June, 2012 by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
LINDA EVANS, Chair
La Quinta Housing Authority
ATTEST:
SUSAN MAYSELS, Interim Secretary
La Quinta Housing Authority
(SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Authority Counsel
La Quinta Housing Authority
it 010
Resolution No. RA 2012-
Investment Policy
Adopted: June 19, 2012
Page 3 of 3
Exhibit A
(TO BE ATTACHED)