2013 02 19 SAceitvl 4 4 Q9iKrcv
Agendas and staff reports are now
available on the City's web page:
www.la-guinta.OT
CITY AS SUCCESSOR AGENCY
To The La Quinta Redevelopment Agency
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
REGULAR MEETING on TUESDAY, FEBRUARY 19, 2013 AT 4:00 P.M.
Beginning Resolution No. SA 2013-001
CALL TO ORDER
ROLL CALL:
Agency Members: Evans, Franklin, Henderson, Osborne, Chairperson Adolph
CLOSED SESSION - NONE
PUBLIC COMMENT
At this time, members of the public may address the City Council on any matter not listed
on the agenda. Please complete a "request to speak" form and limit Zour comments to
three minutes. The City Council values your comments; however in accordance with State
law, no action shall be taken on any item not appearing on the agenda unless it is an
emergency item authorized by GC 54954.2(b).
CONFIRMATION OF AGENDA
PRESENTATIONS — NONE
WRITTEN COMMUNICATIONS — NONE
APPROVAL OF MINUTES
APPROVAL OF MINUTES OF FEBRUARY 5, 2013
CITY AS SUCCESSOR AGENCY TO RDA 1 FEBRUARY 19, 2013
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1 . REVENUE AND EXPENDITURE REPORT DATED DECEMBER 31, 2012
2. DEMAND REGISTER DATED FEBRUARY 19, 2013
3. TREASURER'S REPORT DATED DECEMBER 31, 2012
4. RESOLUTION APPROVING A RECOGNIZED OBLIGATION PAYMENT
SCHEDULE OF THE FORMER LA QUINTA REDEVELOPMENT AGENCY FOR
THE PERIOD OF JULY 2013 THROUGH DECEMBER 2013
5. SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR THE PERIOD OF
JULY 2013 THROUGH DECEMBER 2013
DEPARTMENT REPORTS - NONE
BUSINESS SESSION — NONE
STUDY SESSION - NONE
ADJOURNMENT
I I * * * * * * * * * * * * * * * * * * * * * * * * * * * * * � * * * * *
The next regular meeting of the City as Successor Agency to the La Quinta
Redevelopment Agency will be held on March 5, 2013 commencing with closed
session, if any, 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.
00
CITY AS SUCCESSOR AGENCY TO RDA 2 FEBRUARY 19, 2013
DECLARATION OF POSTING
1, Susan Maysels, Agency Secretary of the City as Successor Agency to the La
Quinta Redevelopment Agency, do hereby declare that the foregoing agenda was
posted near the entrance to the Council Chambers at 78-495 Calle Tampico and on
the bulletin boards at the La Quinta Cove Post Office at 51-321 Avenida Bermudas
and at the Stater Brothers Supermarket at 78-630 Highway 111 , on February 15,
2013.
DATED: February 14, 2013
c
0�� OL
SUSAN MAYSELS, Agency Secretary
Successor Agency to the
La Quinta Redevelopment Agency
Public Notices
The La Quinta City Council Chamber is handicapped accessible. If special
equipment is needed for the hearing impaired, please call the City Clerk's Office at
777-7103, twenty-four (24) hours in advance of the meeting and accommodations
will be made.
If special electronic equipment is needed to make presentations to the Successor
Agency, arrangement should be made in advance by contacting the City Clerk's
Office at 777-7103. A one (1 ) week notice is required.
If background material is to be presented to the Successor Agency during a
meeting, please be advised that eight (8) copies of all documents, exhibits, etc.,
must be supplied to the City Clerk for distribution. It is requested that this take
place prior to the beginning of the meeting.
Any writings or documents provided to a majority of the Successor 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.
CITY AS SUCCESSOR AGENCY TO RDA 3
"It. 003,
FEBRUARY 19, 2013
Col -
of;
CITY/SA/HA/1FA MEETING DATE: February 19, 2013
ITEM TITLE: Receive and File Revenues and
Expenditures Report dated December 31, 2012
RECOMMENDED ACTION:
Receive and File
EXECUTIVE SUMMARY:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: I
STUDY SESSION:
PUBLIC HEARING:
Monthly and year-to-date revenues and expenditures of the Successor Agency to the
La Quinta Redevelopment Agency dated December 31, 2012.
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
Receive and File Transmittal of the December 31, 2012 Statements of Revenues and
Expenditures for the Successor Agency to the La Quinta Redevelopment Agency.
ALTERNATIVES:
None.
Respectfully submitted,
Robbeyh'Bird, Finance Director
Attachment: 1. Revenues and Expenditures Report for December 31, 2012
0o4
FIN a GTOMM Ll m
SUCCESSOR AGENCY
REVENUE SUMMARY
PROJECT AREA NO. 1 Admin (237)
County of Riverside
Pooled Cash Allocated Interest
Non Allocated Interest
Transfers In
TOTAL PA I
PROJECT AREA NO. 2 Admin (238)
County of Riverside
Pooled Cash Allocated Interest
Non Allocated Interest
Transfers In
TOTAL PA 2
TOTAL SUCCESSOR AGENCY - ADMIN
PROJECT AREA NO. 1 Project (231)
County of Riverside
Pooled Cash Allocated Interest
Non AJIocated Interest
Transfers In
TOTAL PA I
PROJECT AREA NO. 2 Project (232)
County of Riverside
Pooled Cash Allocated Interest
Non Allocated Interest
Transfers In
TOTAL PA 2
TOTAL SUCCESSOR AGENCY - PROGRAM
TOTAL SUCCESSOR AGENCY
07101/2012 - 12/31/2012
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
476,656.00
0.00
476,656.00
0000%
0,00
0.00
000
0.000%
0.00
0.00
0,00
0.000%
15,400.00
0.00
15 400�00
omo%
492,056,00
u.uu
492056.00
0,000%
323,939.00
0,00
323,939.00
0000%
0.00
0.00
0.00
0.000%
0.00
0�00
0.00
0.000%
19,500.00
0�00
19 500m
0.000%
343,439.00
om
343,439,00
0.000%
835,49500 0,000%
0.00
0,00
0,00
0,000%
0.00
13,215.18
(13,215AB)
0.000%
0.00
1,236.86
(1,236.86)
0.000%
15,40000
22,598,00
(7,198.00j
146,740%
15,400.00
37,050.04
(21,650.04)
240,580%
192,876.00
0.00
192,87&00
0�000%
0�00
0.00
0,00
0.000%
0,00
8,798.55
(8,798.55)
0.000%
19,500.00
8,798.55
10,701,45
45,120%
212,376.00
17,597.10
194,778,90
8,290%
227,776�00 54.647.14 173,128.86 23.990%
1,063,271.00 54,647.14 1,008,623.86 5.140%
0 0
SUCCESSOR AGENCY TO THE
07101/2012 - 12/3112012
LA QUINTA REDEVELOPMENT AGENCY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA No. 1:
LOWIMODERATE TAX FUND:
County of Riverside
6,227,990.00
0.00
6,227,990.00
0.000%
Allocated Interest
0.00
1.90
(1.90)
0,000%
Non Allocated Interest
0.00
1,233.47
(1,233.47)
0.000%
Miscellaneous revenue
0.00
165.26
(165.26)
0.000%
Non Allocated Interest
0,00
0,00
000
0,000%
Transferin
000
1.432,94
(1,432,94�
0000%
TOTAL LOW/MOD TAX
b,22(,U9u,uo
2,833.57
6,225,156.43
0.050%
DEBT SERVICE FUND:
County of Riverside
10.273,472 00
0,00
10,273,47Z00
0.000%
Adlocated Interest
0,00
0.00
0.00
0.00G%
Non Allocated Interest
0.00
260.76
(260.76)
0.000%
Transfers In
0.00
0.00
0.00
0.000%
TOTAL DEBT SERVICE
10,273,472.00
260.76
10,273,211.24
0.000%
CAPITAL IMPROVEMENT FUND
Pooled Cash Allocated Interest
0,00
1,943.68
(1.943,68)
0,000%
Non Allocated Interest
15,400.00
6,011.41
9,388.59
39.040%
Developer Agreement Funding
0.00
0,00
0�00
0.000%
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 CAPITAL IMPROVEMENT
15,400.00
7,955.09
7,444�91
51.660%
2011 TAXABLE HOUSING BOND FUND: (249)
Pooled Cash AJIocated Interest
0.00
0.00
0.00
0000%
Non AJ[ocated Interest
10,000.00
12,296.76
(2,29616)
122.970%
Developer Agreement Funding
0.00
0,00
0�00
0.000%
Sale of Land Proceeds
000
0.00
0,00
0000%
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 HOUSING BOND
10,000.00
12,29616
(2,296.76)
122,970%
00-6
SUCCESSOR AGENCY TO THE
07/01/2012 - 1213112012
LA QUINTA REDEVELOPMENT AGENCY
ADJUSTED
REMAINING
%
REVENUE SUMMARY
BUDGET
RECEIVED
BUDGET
RECEIVED
PROJECT AREA NO. 2:
LOW/MODERATE TAX FUND:
County of Riverside
2,665,855.00
0.00
2,665.855.00
0.000%
Allocated Interest
0.00
10.59
(10.59)
0.000%
Non Allocated Interest
0.00
60.93
(60�93)
0,000%
Transfer In
0,00
705.78
(705�78)
0,000%
TOTAL LOWIMOD TAX
2,665,855.00
777.30
2,665,077.70
0.030%
2004 LOWIMODERATE 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
0.00
1,652�90
(1,652.90)
0.000%
Transferin
0,00
0�00
0,00
0�000%
TOTAL LOWIMOD BOND
0.00
1,652.90
(1,652�90)
0�000%
DEBT SERVICE FUND:
County of Riverside
941,946.00
0�00
941,94600
0,000%
Allocated Interest
0.00
0.00
0.00
0.000%
Non Allocated Interest
0.00
1,172,18
(1,17218)
0,000%
Interest Advance Proceeds
0.00
0,00
0,00
0�000%
Transfer In
0,00
0.00
0�00
0.000%
TOTAL DEBT SERVICE
941,946.00
1,17218
940,773,82
0.120%
CAPITAL IMPROVEMENT FUND:
Allocated Interest
0.00
0.00
0.00
0.000%
Non Allocated Interest
19,50000
8,798.55
10,701.45
45A20%
Misc Revenue
0.00
0.00
0.00
0.000%
Sale of land
0=
0.00
0,00
0.000%
Transfers In
0.00
0�00
0,00
0000%
TOTAL CAPITAL IMPROVEMENT
19,500.00
8,798.55
10,701,45
45.120%
2011 TAXABLE NON -HOUSING BOND FUND: (417)
Pooled Cash Allocated Interest
0.00
0,00
0.00
0,000%
Non Allocated Interest
0,00
33.00
(33.00)
0.000%
Developer Agreement Funding
0.00
0.00
0.00
0.000%
Sale of Land Proceeds
0.00
0,00
0.00
0.000%
Rental Income
0.00
goo
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
33.00
(33.00)
0.000%
007
REVENUE
GRAND TOTALS PER REPORT
0710112012 - 12131/2012
ADJUSTED
BUDGET
189,442,627.00
REMAINING %
RECEIVED BUDGET RECEIVED
57,984,916.42 131.457,710 58 20,44
008
SUCCESSOR AGENCY ADJUSTED 12131112
EXPENDITURE SUMMARY REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
PROJECT AREA NO, 1:
SERVICES
REIMBURSEMENT TO GEN FUND
131,01800
79.81436
000
51.20364
TRANSFERS OUT
307.461 �00
153,732M0
0,00
153,72900
TOTAL PA 1 - Ad.1
0.00
0�00
546
0,00
000
36
000
204,93164
PROJECT AREA NO, 2
PROJECT AREA NO. 1:
PROJECT AREA NO. 2
SERVICES
REIMBURSEMENT TO GEN FUND
000
151.43900
7,23600
0,00
(7,23600)
TRANSFERS OUT
. 0�00
75,72000
000
75.719,00
TOTAL PA 2 - Ad.l�
151,43900
0.00
---T2 956 -00
002
� 6
0 0
LOC
68 48-3
TOTAL SUCCESSOR AGENCY - Afth.
Ill.v Po uu
JI b.b02 36
000
�273 415 64
SERVICES
5.499,961,00
7,95250
000
5,492.008 50
BOND PRINCIPAL
000
000
0,00
000
BOND INTEREST
0,00
0,00
0.00
0�00
REIMBURSEMENT TO GEN FUND
000
000
000
TRANSFERS OLIT
15.400�O
Lo
0
000
0,00
1540000
TOTAL PA I - Progmm
5,515,361.
7.152L. ::�-O
00-5
507 408�50
SERVICES
000
33,84764
0,00
(33,847 64)
BOND PRINCIPAL
BONDINTEREST
000
000
000
0.00
REIMBURSEMENT TO GEN FUND
000
000
0,00
000
TRANSFERS OUT
212.376,00
0,00
000
212,37600
TOTAL PA 2 - PrNram
212,37600
33,847.64
000
178,528,36
TOTAL SUCCESSOR AGENCY - Pr,,,..
5,727,737.00
41,80014
0�00
5,685,936 86
TOTAL SUCCESSOR AGENCY 5,959,352 50
.111. , 009
SUCCESSOR AGENCY TO THE ADJUSTED 1213laDI2 REMAINING
I -A QUINTA REDEVELOPMENT AGENCY BUDGET EXPENDITURES ENCUMBERED BUDGET
EXPENDITURE SUMMARY
PROJECT AREA NO. 1:
LOWIMODERATE TAX FUND:
SERVICES
0.00
1.92600
000
(1,92500)
BOND PRINCIPAL
2,071.650 00
1,723.2WOO
0,00
348.40000
BONDINTEREST
4,156,340�00
2,104,021 63
000
2.052,318 37
REIMBURSEMENT TO GEN FUND
0,00
000
000
000
TRANSFERS OUT
4,712,252 00
4,612,073 47
000
100,178.53
TOTAL LOWNOD TAX
10,940,242.00
8.441.270A0
000
2,498S71 90
DEBT SERVICE FUND
SERVICES
16,600 00
000
000
16.60000
BOND PRINCIPAL
3,765,000 00
3,308,050 00
000
456,95000
BONDINTEREST
6,491,872 00
3,289,314 13
000
3.202,557,87
TRANSFERS OUT
000
0,00
0.00
0,00
TOTAL DEBT SERVICE
10,273.472 00
6,597,364,13
000
3,676,107S7
CAPITAL IMPROVEMENT FUND:
SERVICES 0,00 0,00 000 000
REIMBURSEMENT TO GEN FUND 0.00 000 0,00 000
TRANSFERS OUT 9,209,072 00 25,35850 0�00 9,183,713 50
TOTAL CAPITAL IMPROVEMENT 9.209.072.00 25,358 50 000 9,183,713 50
2011 TAXABLE HOUSING BONIN249)
SERVICES 000 000 000 0,00
TRANSFERS OUT 25.514.502 00 000 000 25,514,502 00
TOTAL 2011 TAXABLE HOUSING BOND 25,514.502BG 000 000 25,514,502 00
010
SUCCESSOR AGENCY TO THE
I -A QUINTA REDEVELOPMENT AGENCY
EXPENDITURE SUMMARY
PROJECT AREA NO. 2:
ADJUSTED 12131QO12 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
LOWIMODERATE TAX FUND:
SERVICES
0.00
0.00
VOO
000
BOND PRINCIPAL
623,70000
623,70000
000
000
BONDINTEREST
2.042,155GO
1,028,OW 13
000
1014,06087
REIMBURSEMENT TO GEN FUND
000
000
0,00
TRANSFERS OUT
13,429,736 0
12 1
2
0,00
0,00
100 17297
TOTAL LOWIMOD TAX
S2G
�;1�532
000-1
11423384
2004 LOWMODERATE BOND FUND
HOUSING PROGRAMS
coo
coo
000
000
LAND
OGO
000
000
000
TRANSFERS OUT
2.997,694GO
3 111
221145
0 '2
TOTAL LOWIMOD BOND
2,997.6N 00
G
6,61
2� 2
DEBT SERVICE FUND
SERVICES
000
000
000
000
BOND PRINCIPAL
175,00000
175.000,00
000
000
BOND INTEREST
757.64600
381.08688
000
376,559 12
TRANSFERS OUT
0.00
000
000
000
TOTAL Dt� I Stmviut
932,64600
556,086 L8
0 �00376
559 12
CAPITAL IMPROVEMENT FUND
SERVICES
000
000
0 GO
0,00
CAPITAL
GXO
GGO
0,00
000
REIMBURSEMENT TO GEN FUND
0.00
0.00
000
000
TRANSFERS OUT
19.500.0
000
10.70145
TOTAL CAPITAL IMPROVEMEN
02�
6,452, gN
0.00
10,701.45
2011 RDA 2 TAXABLE BOND FUND;(417)
SERVICES
000
000
0,00
0,00
ECONOMIC DEVELOPMENT
753,649.00
753.648.91
000
009
TRANSFERS OUT
2,399,766.00
0.00
' 00
?2 4B 20
TOTAL RDA NO. 2 TAXAu4t uuNo
3,153,435GO
753,(PI8 91
656
.39
552,
G 7111
. I I, . oil
Expenditures
ADJUSTED
IV3112012
REMAINING
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
Grand TOTAL
275,014,8n 00
104,624,691,47
18,56080
170,371,685�73
000
City
Other Funds
35,764,841 00
11,839,434,70
16,560,80
23.908,8,15,50
Financed Authonty
126,937,038 00
34.686.494 82
2,00000
92 248,543 18
Hai Authority
678.130.00
581.58725
doo
96.542.75
Successor Agency
26,181,020,00
25.729,556,28
000
451,463,72
Successor Agency 1
6,317,655 00
358,30250
0,00
5,959,352 50
Successor Agency 2
55,937.288 00
15.01
000
40,873,29517
Tout
23,198,866 00
16 365 323,19
000
6,833.542 81
275,014,838,00
104,624,691,47
18,560,80
170.371,585 73
Total Per G4-
Variance
275,014.838,00
104,624,691 47
18,56080
170,371,585.73
612
Twy� 4 4 QUM&
VIEETING DATE: FebruarV 19 2013
I
ITEM TITLE: Demand Register Dated
February 19, 2013
RECOMMENDED ACTION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 2--
STUDY SESSION:
PUBLIC HEARING:
It is recommended the Successor Agency of the La Quinta Redevelopment Agency:
Receive and File the Demand Register Dated
February 19, 2013 of which $0.00
Represents Successor Agency Expenditures as detailed below:
Vendor: Account#: Amount: Purpose:
NONE
By adoption of Resolution No. 2012-002, the City of La Quinta has affirmatively elected to be
the Successor Agency of the La Quinta Redevelopment Agency. Pursuant to Health and
Safety Code Section 34177(a), the Successor Agency of the La Quinta Redevelopment Agency
shall continue to make payments required pursuant to an adopted enforceable obligations
payment schedule. The payments above are required pursuant to the enforceable obligations
payments schedule adopted by the La Quinta Redevelopment Agency on January 17, 2012.
Pursuant to Health and Safety Code Section 34173(e), the liability of the Successor Agency of
the La Quinta Redevelopment Agency, when acting pursuant to the powers granted under
ABX126, are limited to the extent of the total sum of property tax revenues it receives pursuant
to part 1.85 of ABX126 (e.g., Health and Safety Code Sections 34170 — 34190) and the value of
assets transferred to it as Successor Agency for the dissolved La Quinta Redevelopment
Agency.
EXECUTIVE SUMMARY:
013
None
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
None.
ALTERNATIVES:
None.
Respecffully submifted,
Robbeyn
014
Sep aldwrau
OF
COUNCIL/��HVHA MEETING DATE: February 19, 2013
ITEM TITLE: Receive and File Transmittal of Treasurer's
Reports as of December 31, 2012
RECOMMENDED ACTION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 3
STUDY SESSION:
PUBLIC HEARING:
It is recommended the Successor Agency to the La Quinta Redevelopment Agency
Board:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
015
T4hf 4 4 QU&M
CITY�A/FA MEETING DATE: February 19, 2013 AGENDA CATEGORY:
ITEM TITLE: Resolution Approving a Recognized BUSINESS SESSION:
Obligation Payment Schedule of the Former La Quinta
Redevelopment Agency for the Period of July 2013 CONSENT CALENDAR:
through December 2013
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Adopt a Resolution approving a Recognized Obligation Payment Schedule for the
period of July 2013 through December 2013.
EXECUTIVE SUMMARY:
Per ABx1 26 and State Budget Trailer Bill AB 1484, the Successor Agency must
submit a Recognized Obligation Payment Schedule (ROPS) every six months.
Attachment 1 of this report fulfills that requirement. In addition, this report and the
attached Resolution are approving the continued implementation of the Washington
Street Apartments Rehabilitation Project and approving expenditure of 2004 tax-
exempt housing bond proceeds and 2011 taxable housing bond proceeds.
FISCAL IMPACT:
The ROPS requests $12,826,291, plus an additional $384,789 administrative
allowance (total of $13,211,080) allocated from the Redevelopment Property Tax
Trust Fund to the Successor Agency. The remainder of the enforceable obligations
would be paid from bond proceeds.
BACKGROUND/ANALYSIS:
Recognized Obligation Payment Schedule
ABx1 26 and the recently -approved State budget trailer bill, AB 1484, govern the
redevelopment unwinding process. Every six months, the Successor Agency and
Oversight Board must approve a ROPS, which is then submitted to the Department
%:� 016
of Finance (DOF), State Controller's Office, the County Administrative Officer, and
the County Auditor -Controller.
AB 1484 changed the DOF's timeframe to request review of ROPS items from
three to five business days. The DOF then has 45 days versus 10 days to make its
final determination of the enforceable obligations, the dollar amounts, and funding
sources listed. The Successor Agency would then have five business days to
request additional DOF review and an opportunity to meet and confer on disputed
items. The ROPS must then be submitted to the above -mentioned entities by
March 1, 2013.
If the ROPS is submitted late, the city that created the former redevelopment
agency will be subject to a civil fine of $10,000 per day. The ROPS includes a 3%
administrative cost allowance, provided by AB 1484, in the amount of $384,789.
Washington Street Apartments
In June 2012, the Successor Agency and Oversight Board approved the
implementation of the Washington Street Apartments Rehabilitation project. A
revised ROPS was sent to the DOF, listing 2004 tax-exempt and 2011 taxable
housing bond proceeds as the funding source. The DOF did not challenge the
revised ROPS. However, should the DOF view Washington Street Apartments as a
new obligation on this ROPS, it is recommended the Oversight Board reaffirms its
previous findings via the attached Resolution.
ALTERNATIVES:
None.
Respectfully submitted,
Robbeyn B �d!t�
Finance Director
Attachment: 1 . ROPS for July through December 2013
017
RESOLUTION NO. SA 2013 -
A RESOLUTION OF THE CITY OF LA QUINTA ACTING
AS THE SUCCESSOR AGENGY TO LA QUINTA
REDEVELOPMENT AGENCY 1) ADOPTING A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR
THE PERIOD OF JULY 2013 THROUGH DECEMBER
2013;
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") was 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, at 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 ABxl 26 and 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
WHEREAS, Health and Safety Code Section 34169 requires successor
agencies to prepare and adopt a "Recognized Obligation Payment Schedule" that
lists all obligations of the former redevelopment agency that are enforceable within
the meaning of subdivision (d) of Section 34167 for the period of July 2013
through December 2013; and
4 018
Resolution No. SA 2013-
Adoption of Recognized Obligation Payment Schedule
Adopted: February 19, 2013
Page 2 of 5
WHEREAS, in fulfilling its purpose of increasing, improving, and preserving
the supply of low- and moderate -income housing in the City, in 2008 the La Quinta
Redevelopment Agency ("LQRDA") expended tax-exempt bond proceeds to acquire
a 72-unit very low-income senior and disabled adult affordable housing complex
located on the east side of Washington street, at Hidden River Road and commonly
known as the Washington Street Apartments ("WSA"); and
WHEREAS, the LQRDA acquired the WSA with the intent of expending bond
proceeds from a 2004 tax-exempt housing bond issuance to substantially
rehabilitate the development, including the construction of additional units to avoid
the long-term displacement of any of the tenants at the development, for purposes
of preserving the units and affordability of the WSA; and
WHEREAS, the WSA was developed in the 1970s, with assistance from the
U.S. Department of Agriculture, Rural Development Division ("RD"), and is subject
to an outstanding RD loan ("RD Loan"); and
WHEREAS, after an extensive application process, during which the LQRDA
represented and committed to RD that it would complete the planned rehabilitation;
RD permitted the LQRDA to assume the RD Loan; and
WHEREAS, in June 2011, to ensure that the rehabilitation of the WSA would
continue without delay in the event of the dissolution of the LQRDA, the LQRDA
added the Authority to the title of the WSA; and
WHEREAS, on January 2, 2012, the City Council adopted City Council
Resolution No. 2012-002, affirmatively electing to be the "successor agency" to
the LQRDA; and
WHEREAS, on January 17, 2012, the Authority adopted Housing Authority
Resolution No. 2012-02, electing to be the "housing successor" to the LQRDA; and
WHEREAS, on April 18, 2012, the Oversight Board of the Successor Agency
to La Quinta Redevelopment Agency adopted Oversight Board Resolution No.
2012-008 affirming that certain housing properties, including the WSA, are
"housing assets" of the LQRDA, as that term is used in Health and Safety Code
Sections 34176(a) and 34177(g) and approving the transfer of the "housing
assets" to the Authority; and
WHEREAS, Health and Safety Code Section 34177, which contains a
comprehensive list of successor agency obligations, provides in subdivision M,
"bond proceeds shall be used for the purposes for which bonds were sold unless
the purposes can no longer be achieved"; and
.to 019
Resolution No. SA 2013-
Adoption of Recognized Obligation Payment Schedule
Adopted: February 19, 2013
Page 3 of 5
WHEREAS, the bond documents for the 2004 tax-exempt housing bonds and
2011 taxable housing bonds expressly state that the bonds were issued to finance
low- and moderate -income housing projects benefiting the former LQRDA's project
areas; and
WHEREAS, the purpose for which the bonds were sold may still be achieved,
through the rehabilitation and improvement of the WSA.
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW THEREFORE, BE IT RESOLVED, by the City of La Quinta Acting as the
Successor Agency to 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 a Recognized Obligation Payment Schedule. In order to
enable the City of La Quinta as Successor Agency to strictly comply with ABx1 26,
and based on the Recitals set forth above, the Successor Agency hereby adopts
the Schedule attached hereto as Exhibit A as the Recognized Obligation Payment
Schedule for the period of July 2013 through December 2013. Pursuant to Health
& Safety Section 341 73(e), the Successor Agency's liability, including, but not
limited to, its liability for the obligations on the attached schedule is limited to the
total sum of property tax revenues it receives pursuant to Part 1 .85 of AB x1 26.
SECTION 3. Implementation. The Successor Agency hereby authorizes and directs
the Executive Director to take any action and execute any documents necessary to
implement this Resolution, and further authorizes the Executive Director to forwae�
the Recognized Obligation Payment Schedule to the Oversight Board.
SECTION 4. The purposes for which the 2004 tax-exempt housing bonds and
2011 taxable housing bonds were issued — to finance low- and moderate -income
housing in the City — can still be achieved. The bond documents, including the
indenture, the official statement, the bond purchase agreement, and other related
documents for the 2004 and 2011 housing bond issuances require that the net
bond proceeds be used for affordable housing.
SECTION 5. The Successor Agency hereby approves the continued implementation
of the WSA rehabilitation project, and consents to the Authority's authorization and
direction to its Executive Director to administer and implement the WSA
"1 020
Resolution No. SA 2013-
Adoption of Recognized Obligation Payment Schedule
Adopted: February 19, 2013
Page 4 of 5
rehabilitation project, including, without limitation, entering into the agreements
necessary to affect the same.
SECTION 6. The Successor Agency hereby approves the expenditure of
$3,006,360 in 2004 tax-exempt housing bond proceeds and $15,523,220 in 2011
taxable housing bond proceeds (collectively, the "WSA Bond Proceeds") to fund
the WSA rehabilitation project over the course of the implementation; and
$1,718,831 in 2004 tax-exempt bond proceeds during the July — December 2013
ROPS period.
SECTION 7. The Successor Agency hereby reconfirms that the 2004 tax-exempt
housing bond proceeds and the 2011 taxable housing bond proceeds are "housing
assets" and that the WSA Bond Proceeds are to be transferred to the Authority
pursuant to Health & Safety Code Section 34176(b)(1) for implementation of the
WSA rehabilitation project, in accordance with the ROPS schedule. The Successor
Agency further confirms that the 2004 and 2011 housing bond proceeds are funds
that are encumbered by an enforceable obligation to build or acquire low- and
moderate -income housing as defined in the Community Redevelopment Law, and
therefore the funds meet the definition of the term "Housing asset" set forth in the
Department of Finance's Questions and Answers section of its website, and further
meeting the definition of "Housing asset" proposed by DOF to be codified as Health
& Safety Code Section 34176(d)(2) in the Redevelopment Agencies Dissolution
Clean-up and Liquid Asset Provisions, May Revision.
SECTION 8. Sevem�. 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 Successor Agency hereby declares that it would
have adopted this Resolution irrespective of the invalidity of any particular portion
thereof.
PASSED, APPROVED, AND ADOPTED at the meeting of the City of La
Quinta Acting as the Successor Agency to the La Quinta Redevelopment Agency
held this 1 9th of February, 2013, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
tv 021
Resolution No. SA 2013-
Adoption of Recognized Obligation Payment Schedule
Adopted: February 19, 2013
Page 5 of 5
Don Adolph, Mayor
City of La Quinta
Agency to the La
Agency
ATTEST:
SUSAN MAYSELS, City Clerk
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Successor Agency Counsel
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
Acting as Successor
Quinta Redevelopment
IV, 022
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CITY4SAkHA/FA MEETING DATE: February 19, 2013
ITEM TITLE: Resolution Approving the Successor Agency
Administrative Budget for the Period of July 2013
through December 2013
RECOMMENDED ACTION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Adopt a resolution approving the Successor Agency Administrative Budget for the
period of July 2013 through December 2013.
EXECUTIVE SUMMARY:
The Successor Agency (SA) will be reimbursed for costs to administer the former
Redevelopment Agency and Oversight Board. ABx1 26 provides for an administrative
allowance of 3% of the property tax allocation listed on the Recognized Obligation
Payment Schedule (ROPS).
FISCAL IMPACT:
For the period of July 2013 through December 2013, the property tax allocation totals
$12,826,291. Three percent of this total is $384,789. However, this total is subject
to change based on review and approval by the Department of Finance (DOF). The
administrative budget for this time period is included as Attachment 1.
BACKGROUND/ANALYSIS:
ABx1 26, the "Dissolution Act," provides an administrative allowance for SA's to carry
out wind -down activities of the former redevelopment agencies and to administer the
oversight boards. The Dissolution Act requires the SA's to prepare an administrative
budget every six months.
025
The estimates include staff time required to carry out SA and Oversight Board
activities and administration, the cost of IT support, supplies, printing of agendas and
agenda packets, posting, SA insurance, facility rental and associated facility costs, and
certain legal and consulting costs.
Once the SA reviews and approves the administrative budget, the budget must be
reviewed and approved by the Oversight Board. This will take place at the Oversight
Board's meeting on February 20, 2013.
While the Dissolution Act does not require the administrative budgets be submitted to
the DOF, the DOF does review the actions of oversight boards the day after the
oversight board meeting takes place. Therefore, the DOF may question an oversight
board's approval of an SA's administrative budget.
ALTERNATIVES:
None.
Respectfully submitted,
Robbeyn ird, Finance Director
Attachment: 1 Administrative Budget for July 2013 through December
2013
026
RESOLUTION NO. 2013-
A RESOLUTION OF THE CITY OF LA QUINTA ACTING
AS THE SUCCESSOR AGENCY TO LA QUINTA
REDEVELOPMENT AGENCY APPROVING THE
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR
THE PERIOD OF JULY 2013 THROUGH DECEMBER
2013
WHEREAS, the City Council of the City of La Quinta ("City Council" or "City,"
as applicable) has been established to direct the Successor Agency to take certain
actions to wind down the affairs of the former La Quinta Redevelopment Agency
("Agency") in accordance with the California Health and Safety Code; and
WHEREAS, the Agency was 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 seg.) ("CRL"); 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
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
WHEREAS, Health and Safety Code Section 34177(j) requires each
successor agency to prepare a proposed administrative budget every six months
setting forth the successor agency's estimated administrative costs of carrying out
the wind -down activities of the former redevelopment agency, proposing sources of
payment for such estimated administrative costs, and proposing for arrangements
for administrative and operations services provided by a city, county and/or other
entity; and
WHEREAS, the Successor Agency
budget for the six-month period July
"Administrative Budget"); and
has prepared a proposed administrative
1, 2013 — December 31, 2013 (the
4__ 027
Resolution No. SA 2013-
Adoption ot SA Administrative Budget
Adopted: February 19, 2013
Page 2
WHEREAS, on February 19, 2013 the Successor Agency reviewed and
approved the Administrative Budget; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW THEREFORE, BE IT RESOLVED, by City of La Quinta Acting as the
Successor Agency to La Quinta Redevelopment Agency, does hereby resolve as
follows:
Section 1. Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
Section 2. Approval of Administrative Budget. The Successor Agency hereby
approves the Administrative Budget, which Administrative Budget is on file with
the Secretary of the Successor Agency.
Section 3. 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 Oversight Board hereby declares that it would have
adopted this Resolution irrespective of the invalidity of any particular portion
thereof.
Section 4. The Oversight Board Secretary shall certify to the adoption of this
Resolution.
PASSED, APPROVED, AND ADOPTED at the meeting of the City of La
Quinta Acting as the Successor Agency to La Quinta Redevelopment Agency held
this 19th day of February, 2013, by the following vote, to wit:
AYES:
NOES:
ASSENT:
ABSTAIN:
Don Adolph, Mayor
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment
�M*
Resolution No. SA 2013-
Adoption of SA Administrative Budget
Adopted: February 19, 2013
Page 3
Agency
ATTEST:
SUSAN MAYSELS, City Clerk
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Successor Agency Counsel
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
029
ATTACHMENT I
SUCCESSOR AGENCYIOVERSIGHT BOARD
JULY-DEC 2013
A—DMINISTRATIVE BUDGET
$179,304
Includes base salary plus �benefits
Succe sor Agency Administration
$116,548
Oversight Board Administration
$62,756
SUPPLIES & SE
C
$182,986
This account provides for legal, consulting, and audit sewirA
a
plus a portion of League of California Cities and California
Redevelopment Agency dues related to technical
assistance and training for implementation of ABx1 26
—
Audits as required by ABxI 26
$15,000
u a
League of California Cities Dues & SerninarsWebinars related
'a
—ABxI
to ABxl 26
$500
m
SerninamsWebmans related to
n a' 26
$0
9a Se--
Legal Services for Successor Agency
$ 7,485
Consultinq Services for Successor Agency
'n—
$40,000
SUPPLIES AND PUBLICATIONS
—
$2,500
This account provides for various office supplies and ublic ions
to be used by SA and OB staff and board members
Successor Aqency Supplies & Publications
---
$1,550
Cversight Board Su lies & Publications
$9501
PRINTINGIMAILINGIADVERTISING
$1,000
$1,000
This account provides for required mailings, agenda
m die all advertising__
INFORMATION TECHNOLOGY
$6,300
This account provides for annual replacement —charges for
information technology items such as computers printers,
and computer related items attributable to SAIOB; and
support/hosting for SA/013 welb pages, which are required
by ABx1 26
$5,000
Computer Document Storage related to Successor Agen
$1,200
On -Line Muni Code related to Successor Agency
$100
OFFICE & EQUIPMENT
$12,700
This account provides for office space rental and equipment
usage in City Hall
-ffe—nt—
$11,100
Equipment
$1,600
TOTAL ADMINISTRATIVE BUDGETI
$384,789
IFUNDING
SOURCES:
3% ADMINISTRATIVE ALLOWANCE
$384,789
1.41; , 0310