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2013 12 17 HAHOUSING AUTHORITY AGENDA CITY HALL COUNCIL CHAMBERS 78 -495 Calle Tampico La Quinta REGULAR MEETING ON TUESDAY, DECEMBER 17, 2013 AT 4:00 P.M. CALL TO ORDER ROLL CALL: Authority Members: Adolph, Evans, Franklin, Henderson, Chairperson Osborne VERBAL ANNOUNCEMENT — AB 23 [AUTHORITY SECRETARY] 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. The Housing Authority 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 APPROVAL OF MINUTES PAGE 1 . MINUTES OF NOVEMBER 19, 2013 3 CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1 . APPROVE DEMAND REGISTER DATED DECEMBER 17, 2013 5 HOUSING AUTHORITY AGENDA 1 DECEMBER 17, 2013 PAGE 2. RECEIVE AND FILE TREASURER'S REPORT DATED OCTOBER 31, 7 2013 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS 9 DATED MARCH 31, 2013 4. APPROVE FINANCIAL AND COMPLIANCE REPORTS FOR 13 WASHINGTON STREET APARTMENTS FOR THE YEAR ENDED JUNE 30, 2013 BUSINESS SESSION — NONE CHAIR AND BOARD MEMBERS' ITEMS — NONE PUBLIC HEARINGS — NONE ADJOURNMENT The next regular meeting of the Housing Authority will be held on January 21, 2014 at 4:00 p.m. in the City Council Chambers, 78 -495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Susan Maysels, City Clerk of the La Quinta Housing Authority, do hereby declare that the foregoing agenda for the La Quinta Housing Authority was posted near the entrance to the Council Chambers at 78 -495 Calle Tampico and on the bulletin boards at 51 -321 Avenida Bermudas and 78 -630 Highway 1 1 1, on December 12, 2013. DATED: December 12, 2013 SUSAN MAYSELS, City Clerk La Quinta Housing Authority Public Notices • 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 DECEMBER 17, 2013 HOUSING AUTHORITY MINUTES TUESDAY, NOVEMBER 19, 2013 A regular meeting of the La Quinta Housing Authority was called to order at 8:37 p.m. by Chairperson Osborne. PRESENT: Authority Members Adolph, Evans, Franklin, Henderson, Chair Osborne ABSENT: None VERBAL ANNOUNCEMENT — AB 23 was made by the Authority Secretary PUBLIC COMMENT — None CONFIRMATION OF AGENDA — Confirmed APPROVAL OF MINUTES MOTION — A motion was made and seconded by Authority Members Franklin/ Evans to approve the minutes of October 15, 2013 as submitted. Motion passed unanimously. CONSENT CALENDAR 1. APPROVE DEMAND REGISTER DATED NOVEMBER 19, 2013 2. RECEIVE AND FILE TREASURER'S REPORT DATED SEPTEMBER 30, 2013 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED SEPTEMBER 30, 2013 MOTION — A motion was made and seconded by Authority Members Evans /Adolph to approve the Consent Calendar as recommended. Motion passed unanimously. BUSINESS SESSION — None REPORTS AND INFORMATION ITEMS — None CHAIR AND BOARD MEMBERS' ITEMS — None PUBLIC HEARINGS — None ADJOURNMENT There being no further business, it was moved and seconded by Authority Members Franklin /Henderson to adjourn at 8:38 p.m. Motion passed unanimously. Respectfully submitted, SUSAN MAYSELS, Authority Secretary La Quinta Housing Authority HOUSING AUTHORITY MINUTES NOVEMBER 19, 2013 3 ì HA MEETING DATE: December 17, 2013 ITEM TITLE: APPROVE DEMAND REGISTER DATED DECEMBER 17, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 1 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file demand register dated December 17, 2013, of which $3,131.25 represents Housing Authority expenditures. PLEASE SEE CONSENT CALENDAR ITEM NUMBER 13 ON CITY COUNCIL AGENDA Report prepared by: Sandra Mancilla, Account Technician Report approved for submission by: Robbeyn Bird, Finance Director ê HA MEETING DATE: December 17, 2013 ITEM TITLE: RECEIVE AND FILE TREASURER'S REPORT DATED OCTOBER 31, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 2 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. FISCAL IMPACT None. BACKGROUND /ANALYSIS: Per City Investment Policy, the Treasurer's Report is presented on a monthly basis and reflects monthly cash balances, investment activities and the portfolio performance, which is presented in the City Council's consent item staff report. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager è HA MEETING DATE: December 17, 2013 ITEM TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED OCTOBER 31, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 3 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. EXECUTIVES SUMMARY: • Revenue and expenditure reports are submitted monthly to the La Quinta Housing Authority for review. • The reports summarize year -to -date revenues and expenditures of the Housing Authority. FISCAL IMPACT: None. BACKGROUND /ANAYLSIS: Revenue and expenditure reports are submitted to the La Quinta Housing Authority monthly to review, receive, and file. The transmittal of the October 31, 2013 Statements of Revenues and Expenditures for the Housing Authority are attached (Attachments 1 and 2, respectively). The La Quinta Housing Authority has collected 32.2 percent of its projected revenues through October 31, 2013. Expenditures are at 33.4 percent of the budgeted amounts. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager ß¬¬¿½¸³»²¬æ ïò Î»ª»²«» Î»°±®¬ º±® Ñ½¬±¾»® íïô îðïí îò Û¨°»²¼·¬«®» Î»°±®¬ º±® Ñ½¬±¾»® íïô îðïí ïð ßÌÌßÝØÓÛÒÌ ï 07/01/2013 - 10/31/2013 LA QUINTA HOUSING AUTHORITYADJUSTEDREMAINING% REVENUE SUMMARYBUDGETRECEIVEDBUDGETRECEIVED PROJECT AREA NO 1 HOUSING AUTHORITY(241) Ð®±½»»¼ Ú®±³ Ø±³» Í¿´»ïîëôðððòðððòððïîëôðððòðððòðððû ß´´±½¿¬»¼ ×²¬»®»¬ ×²½±³»ëôëððòððøêìëòéí÷êôïìëòéíóïïòéìðû Ò±² ß´´±½¿¬»¼ ×²¬»®»¬ ×²½±³»ðòððëìðòçìøëìðòçì÷ðòðððû Î»²¬¿´ ×²½±³»îìðôðððòððçèôèíèòéçïìïôïêïòîïìïòïèðû î²¼ Ì®«¬ Ü»»¼ Î»°¿§³»²¬ðòððîðôêëéòðëøîðôêëéòðë÷ðòðððû Ì®¿²º»® ×²ðòðððòðððòðððòðððû TOTAL LQ HOUSING AUTHORITY PA 1 íéðôëððòððïïçôíçïòðëîëïôïðèòçëíîòîîðû PROJECT AREA NO 2 HOUSING AUTHORITY(242) ÉÍß Ú»¼ Ù±ª¬ ß·¬¿²½» Ð§³¬êîéôîððòððïììôéçéòððìèîôìðíòððîíòðçðû ÉÍß Ú»¼ Ù±ª¬ ×²¬»®»¬ Î¿¬» Í«¾·¼§ðòðððòðððòðððòðððû ÉÍß ×²¬»®»¬ ×²½±³»ðòðððòðððòðððòðððû ÉÍß Ò±² ß´´±½¿¬»¼ ×²¬»®»¬ ×²½±³»îôèððòððíïïòêðîôìèèòìðïïòïíðû ÉÍß Î»²¬¿´ ×²½±³»ðòððêíôëëéòððøêíôëëéòðð÷ðòðððû ÉÍß Ñ¬¸»® Î»ª»²«»ìôîððòððíôïçëòíêïôððìòêìéêòðèðû Ì®¿²º»® ×²ðòðððòðððòðððòðððû TOTAL LQ HOUSING AUTHORITY PA 2 êíìôîððòððîïïôèêðòçêìîîôííçòðìííòìïðû ïï ßÌÌßÝØÓÛÒÌ î LA QUINTA HOUSING AUTHORITYADJUSTED10/31/2013REMAINING EXPENDITURE SUMMARYBUDGETEXPENDITURESENCUMBEREDBUDGET PROJECT AREA NO 1 HOUSING AUTHORITY ÍÛÎÊ×ÝÛÍêëôéððòððïîôçéíòêë ëîôéîêòíë îÒÜ ÌÎËÍÌ ÜÛÛÜ ÐÎÑÙÎßÓêëôðððòðððòðð êëôðððòðð ÚÑÎÛÝÔÑÍËÎÛ ßÝÏË×Í×Ì×ÑÒðòðð ó ØÑËÍ×ÒÙ ÜÛÊÛÔÑÐÓÛÒÌ ÐÎÑÙÎßÓïêðôðððòððéêôééíòìð èíôîîêòêð ÌÎßÒÍÚÛÎ ÑËÌøïçïôêîíòðð÷ðòðð øïçïôêîíòðð÷ TOTAL PROJECT AREA NO 1 HOUSING AUTHORITY ççôðééòððèçôéìéòðëðòððçôíîçòçë PROJECT AREA NO 2 HOUSING AUTHORITY ÍÛÎÊ×ÝÛÍïôéððòððëððòðð ïôîððòðð ÉßÍØ ÍÌ ßÐÌÍ ÛÈÐÛÒÍÛÍ ìçìôïððòððïîîôéîðòèè íéïôíéçòïî ÉÍß ÐÎ×ÒñÐÎÑÊ×ÜÛÒÌ ÔÑßÒ íëôìððòððïïôìíìòçç îíôçêëòðï ÉÍß ÐÎ×ÒñËÍÜß ÔÑßÒ ïëôèððòððëôðèðòìð ïðôéïçòêð ÉÍß ×ÒÌÛÎÛÍÌñÐÎÑÊ×ÜÛÒÌ ÔÑßÒ ïïçôìððòððìðôðëêòìç éçôíìíòëï ÉÍß ×ÒÌÛÎÛÍÌñËÍÜß ÔÑßÒ êçôëððòððéôéîîòêè êïôéééòíî ÉÍß ßÜÊßÒÝÛ ×ÒÌÛÎÛÍÌ ÛÈÐÛÒÍÛ ðòðððòðð ðòðð ÌÎßÒÍÚÛÎ ÑËÌ ðòðððòðð ðòðð TOTAL PROJECT AREA NO 2 HOUSING AUTHORITY éíëôçððòððïèéôëïëòììðòððëìèôíèìòëê TOTAL HOUSING AUTHORITY èíìôçééòððîééôîêîòìçðòððëëéôéïìòëï ïî HA MEETING DATE: December 17, 2013 ITEM TITLE: APPROVE FINANCIAL AND COMPLIANCE REPORTS FOR WASHINGTON STREET APARTMENTS FOR YEAR ENDED JUNE 30, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 4 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Approve the Financial and Compliance Reports for Washington Street Apartments for the year ended June 30, 2013. EXECUTIVE SUMMARY: • The La Quinta Redevelopment Agency (Agency) acquired Washington Street Apartments in October 2008. • Subsequently, La Quinta Housing Authority assumed ownership of this property when the Agency was dissolved. • An annual audit is required by the United States Department of Agriculture (Attachment 1) and Housing Authority approval is required. FISCAL IMPACT: None. BACKGROUND /ANALYSIS: Washington Street Apartments is a 73 -unit development designed for low- income seniors and owned by La Quinta Housing Authority. The apartment complex is managed by Hyder & Company, and rental operations began in November 2008. 13 As the United States Department of Agriculture provides federal funding for Washington Street Apartments, an annual audit is required. The audit was performed by Joyce Rethmeier, CPA. During the fiscal year ended June 30, 2013, Washington Street Apartments collected operating revenues of $623,165 and expended $484,834 for operations, resulting in net income of $138,331. Non - operating expenditures were $100,915, resulting in an increase in net assets for the year of $37,416. ALTERNATIVES: Staff has reviewed and verified the report and does not recommend an alternative. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager Attachment: 1. Washington Street Apartments Financial and Compliance Report for the Year Ended June 30, 2013 14 ßÌÌßÝØÓÛÒÌ ï ïë ïê ïé ïè ïç îð îï îî îí îì îë îê îé îè îç íð íï íî íí íì íë íê íé íè íç ìð ìï ìî ìí ìì ìë ìê