SA Resolution 2012-012RESOLUTION NO. SA 2012 - 012
A RESOLUTION OF THE CITY AS SUCCESSOR AGENCY
TO THE LA QUINTA REDEVELOPMENT AGENCY
APPROVING A SEVENTH AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN
THE FORMER LA QUINTA REDEVELOPMENT AGENCY AND
CP DEVELOPMENT LA QUINTA, LLC FOR THE PROPERTY
LOCATED AT THE SOUTHEAST CORNER OF
WASHINGTON STREET AND MILES AVENUE
WHEREAS, pursuant to authority under the California Community
Redevelopment Law (Health & Safety Code Section 33000 et seq.) ( " CRL "), on or
about December 16, 2003, the former La Quinta Redevelopment Agency ( "Agency ")
entered into a Disposition and Development Agreement ( "Original Agreement ") with CP
Development La Quinta, LLC, a California limited liability company ( "Developer "),
pursuant to which the Agency conveyed to the Developer certain real property located
within the Agency's Project Area No. 2 (the "Property ") for the Developer's
development thereon of a commercial project containing a medical office /clinic, a
boutique hotel, a mid -price suites hotel, a resort -style condominium /casitas
development, two sit -down restaurants, and two single - family residential
developments, with forty of the single - family homes restricted for sale to moderate -
income buyers at an affordable housing cost, all as more particularly described in the
Original Agreement (collectively, the "Original Project "); and
WHEREAS, the Agency and Developer have amended the Original Agreement on
six prior occasions, for purposes of revising, among other things, timelines for and
various components of the Original Project (as amended, the "Agreement" or the
"Project ", as applicable); and
WHEREAS, the Developer has sold the portion of the Property designated
pursuant to the Agreement to be developed with 40 affordable single - family homes
(the "Subject Property ") to La Quinta Retirement Residence Limited Partnership, a
Washington limited partnership ( "LQRRLP "); and
WHEREAS, LQRRLP has processed through the City and has obtained the
approvals and entitlements necessary to develop on the Subject Property a senior living
facility that will include, (i) a 132 suite retirement community, (ii) four single -story
duplex cottages, (iii) a 72 suite assisted living community, and (iv) a 32 bed memory
care facility; and
WHEREAS, as part of the 2011-12 State budget bill, the California Legislature
enacted and the Governor signed, ABx1 26, requiring that each redevelopment agency
be dissolved; and
Resolution No. SA 2012 -012
CP Development La Quinta, LLC
Disposition & Development Agreement - Amendment 7
Adopted: October 16, 2012
WHEREAS, an action challenging the constitutionality of ABx1 26 and
companion bill ABx1 27 was 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 struck down
as unconstitutional ABx1 27; and
WHEREAS, pursuant to (i) Health and Safety Code section 34171 (j), added by
ABx1 26 and amended by Assembly Bill 1484, enacted by the California Legislature
and signed by the Governor on June 27, 2012, and (ii) City Council Resolution No.
2012 -002, the City of La Quinta ( "City ") is the "successor agency" to the former
Agency, and in such capacity acts as the "City as Successor Agency to the La Quinta
Redevelopment Agency "; and
WHEREAS, pursuant to Health and Safety Code section 341770►, added by
ABx1 26, successor agencies are required to oversee development of properties until
the contracted work has been completed; and
WHEREAS, the Successor Agency has negotiated with the LQRRLP a seventh
amendment.to the Agreement to address the modifications desired by LQRRLP with
respect to the Subject Property ( "Amendment No. 7 "); and
WHEREAS, Amendment No. 7 is of benefit to the City of La Quinta; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have
occurred.
NOW, THEREFORE, BE IT RESOLVED by the City as Successor Agency to the
La Quinta Redevelopment Agency does resolve as follows:
SECTION 1 . That the above recitals are true and correct and incorporated herein.
SECTION 2 . That Amendment No. 7 is in the best interest's of the citizens of the City
of La Quinta.
SECTION 3 . That Amendment No. 7, a copy of which is on file with the Successor
Agency Secretary, is hereby approved, subject to (i► the adoption by the City Council
of the City of La Quinta of an Ordinance approving an amendment to that certain
Development Agreement entered into by and between the City and the Developer on or
about December 18, 2003 (the "DA") that makes conforming changes to the DA.
Resolution No. SA 2012 -012
CP Development La Quinta, LLC
Disposition & Development Agreement - Amendment 7
Adopted: October 16, 2012
SECTION 4 . The Successor Agency Executive Director and Successor Agency Counsel
are hereby authorized and directed to (i) make final modifications to Amendment No. 7
that are consistent with the substantive terms of Amendment No. 7 approved hereby,
and to thereafter sign Amendment No. 7 on behalf of the Successor Agency, and (ii)
take such other and further actions, and sign such other and further documents that
require the Successor Agency's signature, as may be necessary and proper to carry
out the terms of Amendment No. 7.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City as
Successor Agency to the La Quinta Redevelopment Agency held this 16th day of
October, 2012, by the following vote:
AYES: Agency Members Evans, Franklin, Henderson, Osborne, Chair Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON ADO H, Chair erson
Successor Agency to the La Quinta
Redevelopment Agency
ATTEST:
5 t 4 40c�
SUSAN MAYSELS, Sbcretary
Successor Agency to the La Quinta
Redevelopment Agency
APPROVED AS TO FORM:
gucce Zsor HERINE JE N, Counsel
Agency the La Quinta
Redevelopment Agency