2018 07 18 FACFINANCIAL ADVISORY COMMISSION 1 JULY 18, 2018
SPECIAL MEETING
NOTICE OF SPECIAL MEETING
OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION
TO THE COMMISSIONERS OF THE LA QUINTA FINANCIAL ADVISORY
COMMISSION:
NOTICE IS HEREBY GIVEN that a special meeting of the La Quinta Financial
Advisory Commission is hereby called to be held on Wednesday, July 18, at 4:00 p.m.
at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253 for the
following purpose:
CONSENT CALENDAR
1.APPROVE MINUTES DATED JUNE 13, 2018
2.RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED APRIL 30,
2018
BUSINESS SESSION
1.APPROVE SILVERROCK EVENT SITE – PHASE 1 ENHANCED PLAN
2.APPOINT FINANCIAL ADVISORY COMMISSIONER CHAIRPERSON AND VICE –
CHAIR FOR FISCAL YEAR 2018/19
Dated: July 12, 2018 /s/ GeorgeBatavick
GEORGE BATAVICK, Chairperson
Attest:
JESSICA DELGADO, Management Assistant
DECLARATION OF POSTING
I, Jessica Delgado, Management Assistant, of the City of La Quinta, do hereby declare
that the foregoing notice for the La Quinta Financial Advisory Commission special
meeting was posted on the City’s website, near the entrance to the Council Chamber
at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and 51-
321 Avenida Bermudas, on June 12, 2018.
Jessica Delgado, Management Assistant
FINANCIAL ADVISORY COMMISSION AGENDA 1 JULY 18, 2018
SPECIAL MEETING
FINANCIAL ADVISORY COMMISSION
AGENDA
CITY HALL STUDY SESSION ROOM
78-495 Calle Tampico, La Quinta
SPECIAL MEETING ON WEDNESDAY, JULY 18, 2018 AT 4:00 P.M.
Roll Call: Commissioners: Johnson, Lopez, Mills, Rosen, Turbow, Twohey and
Chairperson Batavick
PLEDGE OF ALLEGIANCE
PUBLIC COMMENT
At this time members of the public may address the Commission on any matter not
listed on the agenda. Please complete a “Request to Speak” form and limit your
comments to three minutes. The Financial Advisory Commission 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
ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS – None
CONSENT CALENDAR
1. Approve Minutes Dated June 13, 2018
2. Receive and File Revenue and Expenditure Reports Dated April 30, 2018
BUSINESS SESSION
1. Approve SilverRock Event Site – Phase 1 Enhanced Plan
2. Appoint Financial Advisory Commissioner Chairperson and Vice – Chair for Fiscal
Year 2018/19
STUDY SESSION-None
DEPARTMENTAL REPORTS – None
CORRESPONDENCE AND WRITTEN MATERIALS – None
Financial Advisory Commission agendas and staff
reports are now available on
the City’s web page: www.laquintaca.gov
FINANCIAL ADVISORY COMMISSION AGENDA 2 JULY 18, 2018
SPECIAL MEETING
COMMISSIONERS’ ITEMS
ADJOURNMENT
The next regular quarterly meeting of the Financial Advisory Commission will be held on
August 8, 2018 commencing at 4:00 p.m. at the La Quinta Study Session Room, 78-495
Calle Tampico, La Quinta, CA 92253.
DECLARATION OF POSTING
I, Jessica Delgado, Management Assistant, of the City of La Quinta, do hereby declare
that the foregoing Agenda for the La Quinta Financial Advisory Commission special
meeting was posted on the City’s website, near the entrance to the Council Chamber at
78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and 51-321
Avenida Bermudas, on June 12, 2018.
DATED: June 12, 2018
Jessica Delgado, Management Assistant
City of La Quinta, California
Public Notices
The La Quinta City Study Session Room 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 FAC, arrangements
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 Financial Advisory Commission during a special
FAC meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be
supplied to the Management Assistant 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 Financial Advisory Commission
regarding any item(s) on the agenda will be made available for public inspection at the
Community Development counter at City Hall located at 78-495 Calle Tampico, La Quinta,
California, 92253, during normal business hours.
FINANCIAL ADVISORY COMMISSION MINUTES 1 JUNE 13, 2018
SPECIAL MEETING
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, JUNE 13, 2018
CALL TO ORDER
A regular quarterly meeting of the La Quinta Financial Advisory Commission was
called to order at 3:00 p.m. by Chairperson Batavick.
PRESENT: Commissioners Johnson, Lopez, Mills, Rosen, Turbow, Twohey,
and Chairperson Batavick
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Lopez led the audience in the pledge of allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None
CONFIRMATION OF AGENDA – Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1.FIRST EMPIRE SECURITIES
Financial Service Analyst Hallick introduced Matthew D’Avanzo, Broker of First
Empire Securities, who presented the City’s current investment portfolio analysis.
CONSENT CALENDAR ITEMS
1.APPROVE FINANCIAL ADVISORY COMMISSION MINUTES DATED
MAY 9, 2018
Commissioner Mills said the vote for the motion for Business Session Item No. 1,
page No. 2, should reflect “noes” votes for Commissioners Mills and Rosen, and not
Twohey and Rosen.
Motion – A motion was made and seconded by Commissioners Johnson/Lopez to
approve Consent Calendar Item No. 1, as amended. Motion passed unanimously.
2.RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED
MARCH 31, 2018
Motion – A motion was made and seconded by Commissioners Johnson/Lopez to
receive and file Consent Calendar Item No. 2, as recommended. Motion passed
unanimously.
CONSENT CALENDAR ITEM NO. 1
FINANCIAL ADVISORY COMMISSION MINUTES 2 JUNE 13, 2018
SPECIAL MEETING
STUDY SESSION – None
BUSINESS SESSION
1. APPROVE SILVERROCK EVENT SITE – PHASE 1 ENHANCED PLAN
Community Resources Director Escobedo, Facilities Director Howlett, and City
Consultant Chris Hermann, President/CEO of Hermann Design Group, presented the
staff report, which is on file in the Finance Department.
Commission discussion followed on the event site parking; site size and
infrastructure development; estimated annual operating cost; site design, including
turf acreage and water features; comparison analysis of the event site to other
jurisdictions’ event sites; presenting the project to all City Commissions for
comments; possible use of Measure G funds and other potential funding sources;
naming the site; Commission’s desire to obtain additional information from staff
regarding site annual operating costs, accommodations, design, and preparing a
letter of support and Commission recommendations for Council’s consideration; use
of development impact fees to fund the project; and upcoming SilverRock Event
Site Ad-hoc Committee meeting.
The Commission directed staff to schedule a meeting between staff, representatives
of Hermann Design Group, Commissioners Mills and Rosen, and Chairperson
Batavick to prepare a letter of support, including additional Commission
recommendations, on behalf of the Commission recommending Council approval of
the SilverRock Event Site – Phase 1 Enhanced Plan.
Motion – A motion was made and seconded by Commissioners Johnson/Lopez
authorizing Commissioners Mills and Rosen, and Chairperson Batavick, to prepare a
letter of support outlining the Commission’s comments and recommending Council
approval of the SilverRock Event Site – Phase 1 Enhanced Plan. Motion passed
unanimously.
2. REVIEW AND RECOMMEND FINAL PROPOSED BUDGET FOR FISCAL
YEAR 2018/19
Finance Director Campos and Financial Services Analyst Hallick presented the staff
report, which is on file in the Finance Department.
Commission discussion followed on General Fund revenue projections; Measure G
funds balance; pending internal funding requests; and initial reserve funding
allocations.
Motion – A motion was made and seconded by Commissioners Johnson/Mills to
recommend Council approval of the final proposed budget for fiscal year 2018/19.
Motion passed unanimously.
FINANCIAL ADVISORY COMMISSION MINUTES 3 JUNE 13, 2018
SPECIAL MEETING
3.REVIEW CAPITAL ASSET POLICY AND RECOMMEND APPROVAL BY
CITY COUNCIL
Finance Senior Accountant Martinez presented the staff report, which is on file in
the Finance Department.
The Commission discussed surplus process and disposal requirements and
Governmental Accounting Standards Board regulations for capital leases.
COMMISSIONER ROSEN LEFT THE DIAS AT 5:08 P.M.
Motion – A motion was made and seconded by Commissioners Lopez/Mills to
recommend Council approval of the Capital Asset Policy. Motion passed: ayes 6,
absent 1 (Commissioner Rosen).
4.DISCUSS AND PROVIDE DIRECTION TO STAFF REGARDING
PARTICIPATION IN THE CALIFORNIA ASSET MANAGEMENT
PROGRAM
Financial Services Analyst Hallick presented the staff report, which is on file in the
Finance Department.
The Commission discussed fees and basis points for the program; funds accepted
and requirements for the California Asset Management Program.
Motion – A motion was made and seconded by Commissioners Johnson/Lopez
recommending Council approval of City's participation in the California Asset
Management Program. Motion passed: ayes 6, absent 1 (Commissioner Rosen)
COMMISSIONER ROSEN RETURNED TO THE DIAS AT 5:20P.M.
DEPARTMENTAL REPORTS
All departmental reports are on file in the Finance Department.
1.FOURTH QUARTER 2017 (OCTOBER – DECEMBER) SALES TAX
UPDATE FOR THE CITY OF LA QUNTA
2.REQUEST FOR PROPOSAL UPDATE FOR BANKING SERVICES
CORRESPONDENCE AND WRITTEN MATERIAL – None
COMMISSIONERS’ ITEMS – None
FINANCIAL ADVISORY COMMISSION MINUTES 4 JUNE 13, 2018
SPECIAL MEETING
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Johnson/Lopez to adjourn this meeting at 5:33 p.m. Motion passed unanimously.
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: July 18, 2018
STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED
APRIL 30, 2018
RECOMMENDATION
Receive and file revenue and expenditure reports dated April 30, 2018.
EXECUTIVE SUMMARY
•The revenue and expenditure reports summarize the City’s year-to-date (YTD)
and period activity as of April 30, 2018 (Attachment 1).
FISCAL IMPACT – None.
BACKGROUND/ANALYSIS
Reports
Below is a summary of the column headers used on the Revenue and Expenditure
Summary Reports:
Original Total Budget – represents revenue and expenditure budgets the
Council adopted in June 2017 for fiscal year 2017/18.
Current Total Budget – represents original adopted budgets plus any
carryovers (typically associated with long-term Capital Improvement Projects
(CIP) from the prior fiscal year) and any Council approved budget amendments
from throughout the year.
Period Activity – represents actual revenues received and expenditures outlaid
in the reporting month.
Fiscal Activity – represents actual revenues received and expenditures outlaid
YTD.
Variance Favorable/ (Unfavorable) - represents the dollar difference between
YTD collections/expenditures and the current budgeted amount.
Percent Used – represents the percentage activity as compared to budget YTD.
The revenue report includes revenues and transfers into funds from other funds
(income items). Revenues are not received uniformly throughout the year, resulting
in peaks and valleys. For example, large property tax payments are usually received
in December and May. Similarly, Redevelopment Property Tax Trust Fund payments
are typically received in January and June.
The expenditure report includes expenditures and transfers out to other funds. Unlike
CONSENT CALENDAR ITEM NO. 2
revenues, expenditures are more likely to be consistent from month to month.
However, large debt service payments or CIP expenditures can cause swings.
April Revenue MTD YTD YTD
Percent
of Budget
General
Fund
$ 3,888,437 $ 35,489,232 67.78%
All Funds $ 5,235,581 $ 63,035,844 77.07%
Top Five Revenue/Income Sources for April
General Fund Non-General Fund
Transient Occupancy (Hotel) Tax $1,639,455 SilverRock Greens Fees $ 359,670
State Sales Tax $ 680,600 Allocated Interest (Interest
Fund 299)
$ 308,787
Property Taxes $ 650,568 Community Development
Block Grant (CDBG)
$ 184,440
Measure G Sales Tax $ 649,400 Allocated Interest (Bond Fund
249)
$ 93,285
Document Transfer Tax $ 85,812 County Sales Tax (Measure
A)
$ 70,987
April Expenditures MTD YTD YTD
Percent of
Budget
General Fund $ 2,182,062 $ 30,110,316 55.66%
Payroll (GF) $ 590,050 $ 8,100,508 76.79%
All Funds $ 3,271,596 $ 59,095,806 61.86%
Top Five Expenditures/Outlays for April
General Fund Non-General Fund
Sheriff Contract (January
Services)
$1,073,647 Capital Improvement Plan-
Design (1)
$ 204,211
Marketing and Tourism
Promotions
$ 69,938 SilverRock Maintenance $ 148,028
Greater Palm Springs Convention
Bureau
$ 66,386 Lighting and Landscape
District Maintenance
$ 79,920
Engineering and Inspection
Services
$ 62,447 Capital Improvement Plan-
Construction (2)
$ 61,177
Parks Landscape Maintenance $ 31,807 Homelessness Assistance $ 51,500
(1) Design costs include Village Complete Streets, Calle Tampico drainage improvements,
Systemic Safety Analysis Report (Traffic system safety), Dune Palms Low-Water Crossing
(2) Construction costs include City Hall ADA improvements (restrooms) and traffic signal
equipment
Summary
All funds are generally on target or under budget with regard to expenditures. The
timing imbalance of revenue receipts versus expenditures is funded from the City’s
cash flow reserve.
Prepared by: Rosemary Hallick, Financial Services Analyst
Approved by: Karla Campos, Finance Director
Attachment: 1. Revenue and Expenditure Report for April 2018
7/9/2018 5:34:55 PM Page 1 of 2
City Council Month Revenue Report
City of La Quinta Group Summary
For Fiscal: 2017/18 Period Ending: 04/30/2018
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Period
ActivityFun…
Current
Total Budget
Original
Total Budget
Percent
Used
101 - GENERAL FUND 35,489,2323,888,43648,551,600 52,363,100 -16,873,867 67.78 %
201 - GAS TAX FUND 1,041,11230,3141,415,400 1,415,400 -374,287 73.56 %
202 - LIBRARY & MUSEUM FUND 1,373,57002,254,000 2,254,000 -880,429 60.94 %
203 - PUBLIC SAFETY FUND (MEASURE G)300,0000300,000 300,000 0 100.00 %
210 - FEDERAL ASSISTANCE FUND 248,807184,440125,800 184,451 64,356 134.89 %
212 - SLESA (COPS) FUND 114,7918,333100,100 100,100 14,691 114.68 %
215 - LIGHTING & LANDSCAPING FUND 1,012,01601,448,900 1,448,900 69.85 %
217 - DEVELOPMENT AGREEMENT 1,001000
-436,883
1,001 0.00 %
218 - CV VIOLENT CRIME TASK FORCE -250000 -250 0.00 %
219 - ASSET FORFEITURE -13000 -13 0.00 %
220 - QUIMBY FUND 51,841055,000 55,000 -3,158 94.26 %
221 - AB 939 - CALRECYCLE FUND 42,2102,77962,500 62,500 -20,289 67.54 %
223 - MEASURE A FUND 535,08270,987724,500 735,500 -200,417 72.75 %
224 - TUMF FUND 302000 302 0.00 %
225 - INFRASTRUCTURE FUND 183000 183 0.00 %
226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)00012,300 -12,300 0.00 %
227 - State Homeland Security Programs (SHSP)5,741006,000 -259 95.68 %
231 - SUCCESSOR AGCY PA 1 RORF 7,669,157200 7,669,157 0.00 %
235 - SO COAST AIR QUALITY FUND 26,374050,300 50,300 52.43 %
237 - SUCCESSOR AGCY PA 1 ADMIN 125,000000
-23,925
125,000 0.00 %
241 - HOUSING AUTHORITY 988,92125,088919,000 1,012,800 97.64 %
243 - RDA Low-Mod Housing Fund 12,278000 0.00 %
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)165,85593,28400
-23,878
12,278
165,855 0.00 %
250 - TRANSPORTATION DIF FUND 417,89442,630369,000 415,000 2,894 100.70 %
251 - PARKS & REC DIF FUND 249,85630,720200,000 254,000 -4,144 98.37 %
252 - CIVIC CENTER DIF FUND 116,90813,546100,000 120,000 -3,091 97.42 %
253 - LIBRARY DEVELOPMENT DIF 41,9685,16030,000 43,000 -1,032 97.60 %
254 - COMMUNITY CENTER DIF 16,6941,93515,400 15,400 1,294 108.41 %
255 - STREET FACILITY DIF FUND 20,2161,74015,000 20,000 216 101.08 %
256 - PARK FACILITY DIF FUND 4,8856004,000 4,000 885 122.14 %
257 - FIRE PROTECTION DIF 53,3095,79440,000 55,000 -1,690 96.93 %
270 - ART IN PUBLIC PLACES FUND 38,2951,08053,500 45,200 -6,904 84.72 %
275 - LQ PUBLIC SAFETY OFFICER 2,30602,100 2,100 206 109.85 %
299 - INTEREST ALLOCATION FUND 308,786308,78600 308,786 0.00 %
310 - LQ FINANCE AUTHORITY DEBT SERVICE 1759671,400 671,400 -671,224 0.03 %
401 - CAPITAL IMPROVEMENT PROGRAMS 5,440,580102,8128,423,900 11,857,262 -6,416,681 45.88 %
501 - FACILITY & FLEET REPLACEMENT 563,1050531,000 651,000 -87,894 86.50 %
502 - INFORMATION TECHNOLOGY 568,7412,156714,000 729,000 -160,258 78.02 %
503 - PARK EQUIP & FACILITY FUND 249,0580680,000 310,000 -60,941 80.34 %
504 - INSURANCE FUND 747,00901,001,000 1,005,000 -257,990 74.33 %
601 - SILVERROCK RESORT 3,481,159414,9444,004,200 4,004,200 -523,040 86.94 %
602 - SILVERROCK GOLF RESERVE 3,731061,300 61,300 6.09 %
760 - SUPPLEMENTAL PENSION PLAN 879000
-57,568
879 0.00 %
761 - CERBT OPEB TRUST 1,507,063001,523,400 -16,336 98.93 %
Report Total:5,235,580 63,035,84472,922,900 81,786,613 -18,750,768 77.07 %
ATTACHMENT 1
7/9/2018 5:34:27 PM Page 2 of 2
City Council Month Expense Report
City of La Quinta Group Summary
For Fiscal: 2017/18 Period Ending: 04/30/2018
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Period
ActivityFun…
Current
Total Budget
Original
Total Budget
Percent
Used
101 - GENERAL FUND 30,110,3162,182,06248,180,700 54,098,993 23,988,676 55.66 %
201 - GAS TAX FUND 922,21060,3661,435,000 1,442,240 520,029 63.94 %
202 - LIBRARY & MUSEUM FUND 841,56641,9861,947,500 2,524,500 1,682,933 33.34 %
210 - FEDERAL ASSISTANCE FUND 73,0370125,800 184,451 111,413 39.60 %
212 - SLESA (COPS) FUND 51,6200100,000 100,000 48,379 51.62 %
215 - LIGHTING & LANDSCAPING FUND 1,087,228115,6961,519,300 1,527,920 440,691 71.16 %
217 - DEVELOPMENT AGREEMENT 13,005290067,000 53,994 19.41 %
218 - CV VIOLENT CRIME TASK FORCE 3,406000 -3,406 0.00 %
219 - ASSET FORFEITURE 55000 -55 0.00 %
220 - QUIMBY FUND 416,035000 0.00 %
221 - AB 939 - CALRECYCLE FUND 9,8541,23920,000 20,000 49.27 %
223 - MEASURE A FUND 122,9870787,000 798,000 15.41 %
225 - INFRASTRUCTURE FUND 0022,600 22,600
-416,035
10,145
675,012
0.00 %
227 - State Homeland Security Programs (SHSP)2,707006,000
22,600
3,292 45.13 %
231 - SUCCESSOR AGCY PA 1 RORF 9,305,596000 0.00 %
235 - SO COAST AIR QUALITY FUND 18,7929,06832,000 119,000
-9,305,596
100,207 15.79 %
237 - SUCCESSOR AGCY PA 1 ADMIN 142,2403,00600 0.00 %
241 - HOUSING AUTHORITY 614,06837,2231,192,100 1,192,920 51.48 %
243 - RDA Low-Mod Housing Fund 129,50051,5000259,000
-142,240
578,851
129,500 50.00 %
248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)67,4913,7471,704,900 1,704,900 1,637,408 3.96 %
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)1,518,2010.9,400,000 9,400,000 7,881,798 16.15 %
250 - TRANSPORTATION DIF FUND 950,12901,005,100 1,230,600 280,470 77.21 %
252 - CIVIC CENTER DIF FUND 54,2880056,000 1,711 96.94 %
253 - LIBRARY DEVELOPMENT DIF 13,5180014,000 481 96.56 %
254 - COMMUNITY CENTER DIF 00101,600 101,600 101,600 0.00 %
255 - STREET FACILITY DIF FUND 14,5890015,000 410 97.26 %
256 - PARK FACILITY DIF FUND 4,285005,000 714 85.70 %
257 - FIRE PROTECTION DIF 2,834003,000 165 94.48 %
270 - ART IN PUBLIC PLACES FUND 83,1060122,000 122,000 38,893 68.12 %
310 - LQ FINANCE AUTHORITY DEBT SERVICE 670,77418,037671,400 671,400 625 99.91 %
401 - CAPITAL IMPROVEMENT PROGRAMS 6,273,929310,6998,614,400 11,864,382 5,590,452 52.88 %
501 - FACILITY & FLEET REPLACEMENT 490,97331,1521,069,300 1,208,300 717,326 40.63 %
502 - INFORMATION TECHNOLOGY 616,97966,803914,000 917,100 300,120 67.28 %
503 - PARK EQUIP & FACILITY FUND 283,937965670,000 880,000 596,062 32.27 %
504 - INSURANCE FUND 884,7566,374969,200 972,740 87,983 90.96 %
601 - SILVERROCK RESORT 3,288,947331,3764,003,400 4,005,470 716,522 82.11 %
760 - SUPPLEMENTAL PENSION PLAN 12,832000 -12,832 0.00 %
Report Total:3,271,595 59,095,80584,607,300 95,534,116 36,438,310 61.86 %
City of La Quinta
FINACIAL ADVISORY COMMISSION MEETING: July 18, 2018
STAFF REPORT
AGENDA TITLE: APPROVE SILVERROCK EVENT SITE – PHASE 1
ENHANCED PLAN
RECOMMENDATION
Approve SilverRock Event Site Phase 1 Enhanced plan.
EXECUTIVE SUMMARY
•City Council approved the SilverRock Specific Plan in July 2006, which
includes a 35-acre public event site.
•At their February 20, 2018 meeting, the Council establish an Ad Hoc
SilverRock Event Site committee (“Committee”) consisting of a Council
Member, a Community Services Commissioner and a Planning
Commissioner.
•The Committee has held six formal meetings and multiple follow-up
meetings between members and stakeholders to identify programming
options and translate them into design concepts for consideration.
•On May 21, 2018 a joint meeting of the Council, Community Services
Commission, and Planning Commission was held to review those
design concepts.
•Based on input received at this meeting, the SilverRock Event Site –
Phase 1 Enhanced Plan (Attachment 1) was created and staff is
recommending approval of the plan.
•On June 21, 2018 the Financial Advisory Commission (FAC) issued a
letter of support (Attachment 2) for the project with additional
recommendations. The letter was provided to the Planning
Commission which supported presenting the recommendations to City
Council for consideration.
•The Planning Commission reviewed and approved the SilverRock
Event Site on June 26, 2018.
•City Council will consider the approval of the SilverRock Event Site on
August 7, 2018.
BUSINESS SESSION ITEM NO. 1
FISCAL IMPACT
Total project costs will be approximately $6 million. The project will be
funded with $3.5 million in Quimby Funds, $100,000 in Art in Public Places
Funds, and a proposed $2.4 million from Measure G Reserves. The FAC
recommends using additional Measure G funding to incorporate
recommendations as presented in Attachment 2.
BACKGROUND/ANALYSIS
In July 2006, City council approved the SilverRock Specific plan, which
designates 35 acres as a special event space to accommodate art shows,
festivals, corporate events, automobile shows, and public parking.
In November 2014, the Council approved a Development Agreement with
the SilverRock Development Company to construct two hotels, a conference
center, a new golf clubhouse and retail and resort residential uses adjacent
to the event site.
The Ad Hoc Event Site Committee also included representatives from
Montage International, SilverRock Development Company and the La Quinta
Arts Foundation. The Committee created a timeline that completes the
SilverRock Event Site to accommodate the La Quinta Arts Foundations’ 2020
Arts Festival. The Civic Center Campus will not be fully available during that
time because of scheduled alternative transportation projects and concurrent
street/storm water improvements. Some of the critical milestones of the
SilverRock Event Site timeline include:
• August 7, 2018 – City Council approve project plans
• March 2019 – Begin construction
• July 2019 – Plant Bermuda grass
• September 2019 – Construction completed for the October winter
over-seed
• March 2020 – Landscape established and site ready for the Arts
Festival
The Committee established a master plan concept and prioritized amenities
and needs for each phase of the project. Based on the $3.4 million project
budget for phase one, it was determined the original concept would not be
fully achievable. The additional $2.6 million estimated cost includes a
restroom, enhanced lighting, fencing, parking, and the central water feature.
In addition, the phase one enhanced plan has a concrete pad at the base of
a sloped landscape to be used as a music area.
To adhere to the schedule and have an item ready for Council consideration
on August 7, the Community Services, Finance Advisory, and Planning
Commissions are being asked to make a recommendation on the plan in
light of the Committee’s work and input received at the joint meeting.
ALTERNATIVES
The Commission could elect to not recommend approval of the event site,
which would cause a delay or impediment to bring the event site to full use
by March 2020.
Prepared by: Karla Campos, Finance Director
Attachments: 1) SilverRock Event Site Plan
2) FAC letter dated June 21, 2018
ATTACHMENT 1
June 21, 2018
To; City of La Quinta Madame Mayor and City Council Members
From: City of La Quinta Financial Advisory Commission
Subject: SilverRock Event Site – Phase 1 Enhanced Plan
At the Financial Advisory Commission (“FAC”) Special Meeting on June 13, 2018, City Staff
provided a presentation of the SilverRock Event Site – Phase 1 Enhanced Plan (“Enhanced
Plan”) proposed by the Ad Hoc SilverRock Event Site Committee (“Ad Hoc Committee”). FAC
Commissioners were asked to approve the Enhanced Plan, which utilizes $2.4M of Measure G
Funds. This was the first time the FAC was consulted on this matter.
One of the responsibilities of the FAC is oversight for the use of Measure G Funds. After much
discussion, the FAC Commissioners are unanimous and enthusiastic in support of the concept
for the Event Site. However, we expressed concern there was insufficient information for us to
approve the Enhanced Plan. Our main areas of concern are as follows:
Lack of information to determine whether the Enhanced Plan provided a
state-of-the-art event site in one Phase.
Lack of information on projected annual operating costs and potential
revenues.
FAC Commissioners requested additional information and selected fellow Commissioners
Mills, Rosen and Batavick to meet with City Staff, and for one of these Commissioners to
attend the next Ad Hoc Committee Meeting.
On June 18, 2018, the three Commissioners met with City Staff. They were provided additional
information on the Enhanced Plan, including details of both the capital expenditure and
annual operating expense components. They also received additional information addressing
other areas of FAC concern including; turf mitigation, Coachella Valley Water District issues,
adequacy of Event Site to hold various entertainment events, ingress and egress options for
people and vehicles and potential future Phases of the Event Site.
Commissioner Mills attended the AD Hoc Committee meeting on June 18th. During the
meeting he commented that the FAC felt the proposed Enhanced Plan may be “under built”.
He further remarked that the proposed plan should NOT be restricted by any hypothetical
budget but rather should be guided by amenities that insure the Event Site is a first class
facility from the outset with the ability to accommodate multiple types of events. The City
needs to take advantage of this once in a lifetime opportunity. Accordingly, the FAC supports
additional shade structures, as well as providing adequate restroom facilities taking into
account the demographics of our citizens and potential event attendees. The FAC would also
recommend a 10-year revenue and expenditure projection.
Based on our review of the Enhanced Plan, the FAC has the following recommendations:
1)Revise the current Event Site Enhanced Plan to include additional restroom and
storage area facilities, a shade structure over the stage, more shade trees, and
more shade structures, such as gazebos. Additional Measure G funds are
available. Consider integrating the recently approved purchase of a modular
building into a new Enhanced Plan.
2)Develop a plan for using Art in Public Places funds. Some art should be
“children friendly.”
3)Obtain specific recommendations and suggestions from potential users and
sponsors of events. During the Ad Hoc Committee Meeting, it was mentioned
GoldenVoice expressed an interest in the Event Site. This opportunity should
be explored.
4)Investigate the potential of obtaining grant funds from the recently passed
Proposition 68 or other public sources.
5)With estimated annual operating expenses of $150,000. prepare a 10-year
projection showing estimated revenues derived from the La Quinta Arts
Festival, other art shows, concerts, food-related events, etc.
6)Highlight the planned Event Site in the City’s continuing marketing efforts. This
addition of a new multi-purpose public park is very notable to our residents
and to others outside our community.
The Planning Commission will be meeting on June 26th for final review and their approval of an
Enhanced Plan. The FAC requests the Planning Commission consider our applicable
recommendations in their final review.
The FAC will hold a Special Meeting on July 18th to review, for our approval, the Enhanced Plan
approved by the Planning Commission at their June 26th Meeting. Other additional information
will also be reviewed.
We are prepared to answer any questions you may have on our observations and
recommendations.
Respectfully,
The Financial Advisory Commission
Cc: City of La Quinta Planning Commission
City of La Quinta Community Services Commission
Frank Spevacek, Chris Escobedo, Steve Howlett, Monika Radeva, Karla Campos, Marcie
Graham
Bcc Financial Advisory Commissioners Mills, Rosen, Johnson, Twohey, Turbow, Lopez, and
Chairperson Batavick
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: July 18, 2018
STAFF REPORT
AGENDA TITLE: APPOINT FINANCIAL ADVISORY COMMISSIONER
CHAIRPERSON AND VICE CHAIRPERSON FOR FISCAL YEAR 2018/19
RECOMMENDATION
Appoint a Financial Advisory Commission chairperson and vice chairperson to
serve for fiscal year 2018/19.
EXECUTIVE SUMMARY
•The July 18, 2018 meeting is the first meeting of the Financial Advisory
Commission (FAC) for 2018/19.
•Pursuant to La Quinta Code 2.06.050, the FAC shall choose a member to
serve as Chairperson and a member to serve as Vice Chairperson for the
fiscal year.
FISCAL IMPACT - None.
BACKGROUND/ANALYSIS
In accordance with La Quinta Code 2.06.050, “unless otherwise provided by
law, ordinance or resolution of the city council, each board, commission and
committee shall choose one of its members as chairperson and one as vice
chairperson at its first meeting held after June 30th of each fiscal year.”
Pursuant to this section, staff has placed this item on the agenda for
appointment of a chairperson and a vice chairperson.
ALTERNATIVES
This action is stated in City Code, staff does not recommend an alternative.
Prepared by: Karla Campos, Finance Director
BUSINESS SESSION ITEM NO . 2
HAND OUTS
FAC
MEETING
JULY 18, 2018
POWER POINTS
FAC
MEETING
JULY 18, 2018
7/18/2018
1
Financial Advisory Commission
Meeting
July 18, 2018
Financial Advisory Commission
July 18, 2018
7/18/2018
2
Updates Since 6/13/18
•SRR Event Space Ad Hoc Meeting on 6/18/18
•FAC Letter issued on 6/21/18
•Planning Commission Approval on 6/26/18
•SRR Event Space Ad Hoc Meeting on 7/30/18
•Council Approval on 8/7/18
Planning Commission
•Approved plan as presented based on a $6
million budget
•Agreed with FAC recommendations as
presented
•Requested Council consider adding additional
funding to the project
7/18/2018
3
FAC Letter
•Shade structure over stage and gazebos
•Selection and use of art – child friendly
•Talk to potential users
•Grant funding & Proposition 68
•10‐year financial projections
•Marketing efforts
Recommendations
•Approve event site plan
•Approve use of Measure G funds
•Include FAC letter and Planning Commission
recommendation for Council consideration
•FAC representative at 8/7/18 Council meeting
7/18/2018
5
SilverRock Event Site Timeline
•August 7, 2018 – Council approve project plans
•March 2019 – Begin construction
•July 2019 – Plant Bermuda grass
•September 2019 – Construction complete for
October over‐seed
•March 2020 – Landscape established & ready for
arts festival
Funding
•Measure G $2.4 million
–Reserves at $6.9 million (35% for SilverRock)
•Quimby Fund $3.5 million
•Art in Public Places Fund $100,000
•Measure G $3.4 million (additional $1 million)
–Reserves at $6.9 million (49% for SilverRock)
7/18/2018
6
7/18/2018
4
Financial Advisory Commission
July 18, 2018
Financial Advisory Commission
Next Regular Quarterly Meeting is on
August 8, 2018