2014 03 18 HAHOUSING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBERS
78 -495 Calle Tampico La Quinta
REGULAR MEETING ON TUESDAY, MARCH 18, 2014 AT 4:00 P.M.
CALL TO ORDER
ROLL CALL:
Authority Members: Adolph, Evans, Franklin, Osborne, Chairperson Henderson
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 FEBRUARY 18, 2014 3
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1. APPROVE DEMAND REGISTER DATED MARCH 18, 2014 5
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS 7
DATED DECEMBER 31, 2013
HOUSING AUTHORITY AGENDA 1
MARCH 18, 2014
3. RECEIVE AND FILE TREASURER'S REPORT DATED DECEMBER 11
31, 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 April 15, 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, Authority Secretary 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
March 14, 2014.
DATED: March 14, 2014
SUSAN MAYSELS, Authority Secretary
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
MARCH 18, 2014
HOUSING AUTHORITY
MINUTES
TUESDAY, FEBRUARY 18, 2014
A regular meeting of the La Quinta Housing Authority was called to order at 5:05
p.m. by Chairperson Henderson.
PRESENT: Authority Members Adolph, Evans, Franklin, Osborne, Chair Henderson
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 January 21, 2014, as submitted. Motion passed
unanimously.
CONSENT CALENDAR
1. DEMAND REGISTER DATED FEBRUARY 18, 2014
MOTION — A motion was made and seconded by Authority Members Evans/
Franklin 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 Adolph /Evans to adjourn at 5:06 p.m. Motion passed unanimously.
Respectfully submitted,
SUSAN MAYSELS, Authority Secretary
La Quinta Housing Authority
HOUSING AUTHORITY MINUTES 1 FEBRUARY 18, 2014
3
HA MEETING DATE: March 18, 2014
ITEM TITLE: APPROVE DEMAND REGISTER DATED
MARCH 18, 2014
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 1
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file demand register dated March 18, 2014, of which $4,785.50
represents Housing Authority expenditures.
PLEASE SEE CONSENT CALENDAR ON CITY COUNCIL AGENDA
Report prepared by: Sandra Mancilla, Account Technician
Report approved for submission by: Patrick Griffin, Interim Finance Director
HA MEETING DATE: March 18, 2014
ITEM TITLE: RECEIVE AND FILE REVENUE AND
EXPENDITURE REPORTS DATED DECEMBER 31, 2013
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 2
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 December 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 35.4 percent of its projected
revenues through December 31, 2013. Revenues consist mainly of rental income
for City -owned properties in the Cove and Federal Government Assistance
payments for the Washington Street Apartments Project. Expenditures are at 36.1
percent of the budgeted amounts. The expenditures consist mainly of costs related
to maintain the housing program. When expenditures exceed revenues, the fund
balance is used to underwrite these expenditures.
7
ALTERNATIVES:
None.
Report prepared by: Patrick Griffin, Interim Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachments: 1 . Revenue Reports for December 31, 2013
2. Expenditure Reports for December 31, 2013
8
ATTACHMENT 1
07/01/2013 - 12131/2013
LA QUINTA HOUSING AUTHORITY REMAINING %
REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED
PROJECT AREA NO 1 HOUSING AUTHORITY(241)
Proceeds From Home Sale
125,000.00
0.00
125,000.00
0.000%
Allocated Interest Income
5,500.00
(645.73)
6,145.73
- 11.740%
Non Allocated Interest Income
0.00
630.38
(630.38)
0.000%
Rental Income
240,000.00
123,535.79
116,464.21
51.470%
2nd Trust Deed Repayments
0.00
20,657.05
(20,657.05)
0.000%
Transfer In
0.00
0.00
0.00
0.000%
TOTAL LQ HOUSING AUTHORITY PA 1
370,500.00
144,177.49
226,322.51
38.910%
PROJECT AREA NO 2 HOUSING AUTHORITY(242)
WSA Fed Govt Assistance Pymts
627,200.00
144,797.00
482,403.00
23.090%
WSA Fed Govt Interest Rate Subsidy
0.00
0.00
0.00
0.000%
WSA Interest Income
0.00
0.00
0.00
0.000%
WSA Non Allocated Interest Income
2,800.00
311.60
2,488.40
11.130%
WSA Rental Income
0.00
63,557.00
(63,557.00)
0.000%
WSA Other Revenues
4,200.00
3,195.36
1,004.64
76.080%
Transfer In
0.00
0.00
0.00
0.000%
TOTAL LQ HOUSING AUTHORITY PA 2
634,200.00
211,860.96
422,339.04
33.410%
ATTACHMENT 2
LAQUINTA HOUSING AUTHORITY ADJUSTED 12/31/2013 REMAINING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
PROJECT AREA NO 1 HOUSING AUTHORITY
SERVICES
65,700.00
24,025.35
41,674.65
2ND TRUST DEED PROGRAM
65,000.00
0.00
65,000.00
FORECLOSURE ACQUISITION
0.00
11,434.99
-
HOUSING DEVELOPMENT PROGRAM
160,000.00
89,975.09
70,024.91
TRANSFER OUT
(191,623.00)
0.00
(191,623.00)
TOTAL PROJECT AREA NO 1 HOUSING AUTHORITY
99,077.00
114,000.44
0.00 (14,923.44)
PROJECT AREA NO 2 HOUSING AUTHORITY
SERVICES
1,700.00
726.91
973.09
WASH ST APTS EXPENSES
494,100.00
122,720.88
371,379.12
WSA PRIN /PROVIDENT LOAN
35,400.00
11,434.99
23,965.01
WSA PRIN /USDA LOAN
15,800.00
5,080.40
10,719.60
WSA INTEREST /PROVIDENT LOAN
119,400.00
40,056.49
79,343.51
WSA INTEREST /USDA LOAN
69,500.00
7,722.68
61,777.32
WSA ADVANCE INTEREST EXPEN:
0.00
0.00
0.00
TRANSFER OUT
0.00
0.00
0.00
TOTAL PROJECT AREA NO 2 HOUSING AUTHORITY
735,900.00
187,742.35
0.00 548,157.65
TOTAL HOUSING AUTHORITY 834,977.00 301,742.79 0.00 533,234.21
It$]
HA MEETING DATE: March 18, 2014
ITEM TITLE: RECEIVE AND FILE TREASURER'S REPORT
DATED DECEMBER 31, 2013
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: 3
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. The City pools all cash and investments. Therefore, a separate
report for each reporting entity is not issued. The combined report for all entities is
presented in the City Council's consent item staff report.
ALTERNATIVES:
None.
Report prepared by: Patrick Griffin, Interim Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
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