2024 06 04 HA Special Meetingta Qa�trdj
GEM of the DESERT —
NOTICE AND CALL OF SPECIAL MEETING
OF THE LA QUINTA HOUSING AUTHORITY
TO THE MEMBERS OF THE LA QUINTA HOUSING AUTHORITY AND TO THE
AUTHORITY SECRETARY:
NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta Housing Authority
is hereby called to be held on Tuesday, June 4, 2024, commencing at 4:00 p.m. (or
thereafter) at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253
for the following purpose:
CONSENT CALENDAR
1. APPROVE REGULAR QUARTERLY HOUSING AUTHORITY MINUTES OF
JANUARY 16, 2024
STUDY SESSION
1. DISCUSS FISCAL YEAR 2024/25 PROPOSED HOUSING AUTHORITY
BUDGET
Dated: May 31, 2024
/s/ XathCeen Fitzpatrick
KATHLEEN FITZPATRICK, Chairperson
Attest:
MONIKA RADEVA, Authority Secretary
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary, do hereby declare that the foregoing notice for the
Special Meeting of the Housing Authority of the City of La Quinta on June 4, 2024, was
posted on the City's website, near the entrance to the Council Chamber at 78495 Calle
Tampico, and the bulletin board at the La Quinta Cove Post Office at 51321 Avenida
Bermudas, on May 31, 2024.
MONIKA RADEVA, Authority Secretary
La Quinta Housing Authority
LA QUINTA HOUSING AUTHORITY
SPECIAL MEETING Page 1 of 1 JUNE 4, 2024
t(v QW�Kr(v
GEM of the DESERT -- —
Housing Authority agendas and staff
reports are available on the City's
web site: www.laquintacamov
HOUSING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBER
78495 Calle Tampico La Quinta
SPECIAL MEETING
TUESDAY, JUNE 4, 2024 AT 4:00 P.M. (or thereafter)
Members of the public may listen to this meeting by tuning -in live via
http://laguinta.12milesout.com/video/live.
CALL TO ORDER
ROLL CALL: Authority Members: Evans, McGarrey, Pena, Sanchez, and Chairperson
Fitzpatrick
VERBAL ANNOUNCEMENT — AB 23 [AUTHORITY SECRETARY]
PLEDGE OF ALLEGIANCE
CONFIRMATION OF AGENDA
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Housing Authority on any matter not
listed on the agenda pursuant to the "Public Comments — Instructions" listed at the end
of the agenda. 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 the Brown Act [Government Code § 54954.2(b)].
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
PAGE
1. APPROVE REGULAR QUARTERLY HOUSING AUTHORITY MINUTES OF
JANUARY 16, 2024
HOUSING AUTHORITY AGENDA Page 1 of 4 JUNE 4, 2024
SPECIAL MEETING
STUDY SESSION
PAGE
DISCUSS FISCAL YEAR 2024/25 PROPOSED HOUSING AUTHORITY 7
BUDGET
HOUSING AUTHORITY MEMBERS' ITEMS
ADJOURNMENT
***************************************
The next regular quarterly meeting of the Housing Authority will be held on July 16, 2024,
at 4:00 p.m. in the City Council Chamber, 78495 Calle Tampico, La Quinta, CA 92253.
DECLARATION OF POSTING
I, Monika Radeva, Authority Secretary of the La Quinta Housing Authority, do hereby
declare that the foregoing agenda for the La Quinta Housing Authority was posted on the
City's website, near the entrance to the Council Chamber at 78495 Calle Tampico, and
the bulletin board at the La Quinta Cove Post Office at 51321 Avenida Bermudas, on May
31, 2024.
DATED: May 31, 2024
*6L r
MONIKA RADEVA, Authority Secretary
La Quinta Housing Authority
PUBLIC NOTICES
• Agenda packet materials are available for public inspection: 1) at the Clerk's Office at
La Quinta City Hall, located at 78495 Calle Tampico, La Quinta, California 92253; and
2) on the City's website at https://www.laguintaca.gov/business/city-council/housinq-
authority-agendas/, in accordance with the Brown Act [Government Code § 54957.5;
AB 2647 (Stats. 2022, Ch. 971)].
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 (760) 777-
7123, 24-hours in advance of the meeting and accommodations will be made.
If background material is to be presented to the Housing Authority during a Housing
Authority meeting, please be advised that 15 copies of all documents, exhibits, etc.,
must be supplied to the Authority Secretary for distribution. It is requested that this
takes place prior to the beginning of the meeting.
HOUSING AUTHORITY AGENDA Page 2 of 4 JUNE 4, 2024
SPECIAL MEETING
PUBLIC COMMENTS - INSTRUCTIONS
Members of the public may address the Housing Authority on any matter listed or not
listed on the agenda as follows:
WRITTEN PUBLIC COMMENTS can be provided either in -person during the meeting by
submitting 15 copies to the Authority Secretary, it is requested that this takes place prior
to the beginning of the meeting; or can be emailed in advance to
CityClerkMail(ab_LaQuintaCA.gov, no later than 12:00 p.m., on the day of the meeting.
Written public comments will be distributed to the Housing Authority, made public, and
will be incorporated into the public record of the meeting, but will not be read during the
meeting unless, upon the request of the Chairperson, a brief summary of public
comments is asked to be reported.
If written public comments are emailed, the email subject line must clearly state "Written
Comments" and should include: 1) full name, 2) city of residence, and 3) subject
matter.
VERBAL PUBLIC COMMENTS can be provided in -person during the meeting by
completing a "Request to Speak" form and submitting it to the Authority Secretary; it is
requested that this takes place prior to the beginning of the meeting. Please limit your
comments to three (3) minutes (or approximately 350 words). Members of the public shall
be called upon to speak by the Chairperson.
In accordance with City Council Resolution No. 2022-027, a one-time additional speaker
time donation of three (3) minutes per individual is permitted; please note that the member
of the public donating time must: 1) submit this in writing to the Authority Secretary by
completing a "Request to Speak" form noting the name of the person to whom time is
being donated to, and 2) be present at the time the speaker provides verbal comments.
Verbal public comments are defined as comments provided in the speakers' own voice
and may not include video or sound recordings of the speaker or of other individuals or
entities, unless permitted by the Chairperson.
Public speakers may elect to use printed presentation materials to aid their comments;
15 copies of such printed materials shall be provided to the Authority Secretary to be
disseminated to the Housing Authority, made public, and incorporated into the public
record of the meeting; it is requested that the printed materials are provided prior to the
beginning of the meeting. There shall be no use of Chamber resources and technology
to display visual or audible presentations during public comments, unless permitted by
the Chairperson.
All writings or documents, including but not limited to emails and attachments to emails,
submitted to the City regarding any item(s) listed or not listed on this agenda are public
records. All information in such writings and documents is subject to disclosure as being
in the public domain and subject to search and review by electronic means, including but
HOUSING AUTHORITY AGENDA Page 3 of 4 JUNE 4, 2024
SPECIAL MEETING
not limited to the City's Internet Web site and any other Internet Web -based platform or
other Web -based form of communication. All information in such writings and documents
similarly is subject to disclosure pursuant to the California Public Records Act
[Government Code § 7920.000 et seq.].
TELECONFERENCE ACCESSIBILITY — INSTRUCTIONS
Teleconference accessibility may be triggered in accordance with AB 2449 (Stats. 2022,
Ch. 285), codified in the Brown Act [Government Code § 54953], if a member of the
Housing Authority requests to attend and participate in this meeting remotely due to `just
cause" or "emergency circumstances, " as defined, and only if the request is approved. In
such instances, remote public accessibility and participation will be facilitated via Zoom
Webinar as detailed at the end of this Agenda.
*** TELECONFERENCE PROCEDURES — PURSUANT TO AB 2449***
APPLICABLE ONLY WHEN TELECONFERENCE ACCESSIBILITY IS IN EFFECT
Verbal public comments via Teleconference — members of the public may attend
and participate in this meeting by teleconference via Zoom and use the "raise your
hand" feature when public comments are prompted by the Chair; the City will facilitate the
ability for a member of the public to be audible to the Housing Authority and general public
and allow him/her/them to speak on the item(s) requested. Please note — members of
the public must unmute themselves when prompted upon being recognized by the
Chairperson, in order to become audible to the Housing Authority and the public.
Only one person at a time may speak by teleconference and only after being recognized by
the Chair.
ZOOM LINK: https://us06web.zoom.us/m/82540879912
Meeting ID: 825 4087 9912
Or join by phone: (253) 215 — 8782
Written public comments — can be provided in person during the meeting or emailed to
the City Clerk's Office at CityClerkMaiI(a)_LaQuintaCA.gov any time prior to the
adjournment of the meeting, and will be distributed to the Housing Authority, made public,
incorporated into the public record of the meeting, and will not be read during the meeting
unless, upon the request of the Chairperson, a brief summary of any public comment is
asked to be read, to the extent the City Clerk's Office can accommodate such request.
HOUSING AUTHORITY AGENDA Page 4 of 4 JUNE 4, 2024
SPECIAL MEETING
CONSENT CALENDAR ITEM NO. 1
HOUSING AUTHORITY
MINUTES
TUESDAY, JANUARY 16, 2024
CALL TO ORDER
A regular quarterly meeting of the La Quinta Housing Authority was called to order at 8:24
p.m. by Chairperson Pena.
PRESENT: Authority Members McGarrey, Sanchez, Fitzpatrick, and Chairperson Pena
ABSENT: Authority Member Evans
MOTION — A motion was made and seconded by Authority Members Fitzpatrick/Sanchez
to excuse Authority Member Evans' absence from tonight's meeting. Motion passed:
ayes — 4, noes — 0, absent — 1 (Evans), abstain — 0.
VERBAL ANNOUNCEMENT — AB 23 was made by the Authority Secretary
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None
PLEDGE OF ALLEGIANCE
Chairperson Pena led the audience in the Pledge of Allegiance.
CONFIRMATION OF AGENDA — Confirmed
CONSENT CALENDAR
1. APPROVE HOUSING AUTHORITY SPECIAL MEETING MINUTES DATED
DECEMBER 19, 2023
MOTION — A motion was made and seconded by Authority Members
Fitzpatrick/McGarrey to approve the Consent Calendar as recommended. Motion passed:
ayes — 4, noes — 0, absent — 1 (Evans), abstain — 0.
BUSINESS SESSION
APPOINT HOUSING AUTHORITY CHAIRPERSON AND VICE -CHAIRPERSON
FOR CALENDAR YEAR 2024
Authority waived presentation of the staff report, which is on file in the City Clerk's Office.
MOTION —A motion was made and seconded by Authority Members Sanchez/Fitzpatrick
to appoint Housing Authority Members Fitzpatrick and McGarrey to serve as Chairperson
HOUSING AUTHORITY MINUTES Page 1 of 2 JANUARY 16, 2024
and Vice -Chairperson, respectively, during calendar year 2024. Motion passed: ayes — 4,
noes — 0, absent — 1 (Evans), abstain — 0.
HOUSING AUTHORITY MEMBERS' ITEMS — None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority Members
Fitzpatrick/McGarrey to adjourn at 8:27 p.m. Motion passed unanimously.
Respectfully submitted,
MONIKA RADEVA, Authority Secretary
La Quinta Housing Authority
HOUSING AUTHORITY MINUTES Page 2 of 2 JANUARY 16, 2024
101
City of La Quinta
STUDY SESSION ITEM NO. 1
HOUSING AUTHORITY SPECIAL MEETING: June 4, 2024
STAFF REPORT
AGENDA TITLE: DISCUSS FISCAL YEAR 2024/25 PROPOSED HOUSING AUTHORITY
BUDGET
RECOMMENDATION
Discuss fiscal year 2024/25 proposed Housing Authority Budget.
EXECUTIVE SUMMARY
• The proposed 2024/25 Housing Authority Budget is presented to the Authority for
review.
• The proposed budget will be presented to the Housing Commission for review and
approval on June 12, 2024.
• The proposed budget has a surplus of $15,723 for the year.
• Final budget adoption is scheduled for June 18, 2024.
FISCAL IMPACT
The preliminary Housing Authority budget projects revenues of $2,231,163 (inclusive of the
annual loan repayment of $701,163) and expenditures of $2,215,440, resulting in a surplus
of $15,723.
BACKGROUND/ANALYSIS
Each Housing Fund section contains notes to explain changes from 2022/23 actuals,
changes in 2023/24, and projections for 2024/25. The budget format is similar to the prior
fiscal year and includes a fund balance summary and year to year comparison summary
chart.
After review from the Housing Authority, Staff will provide an overview of the proposed
budget to the Housing Commission on June 12, 2024 for final review and approval. The
final budget will be adopted by the Housing Authority on June 18, 2024.
Attachment 1 provides a narrative of Housing Authority revenue and expenses including
7
the Successor Agency (former Redevelopment Agency) loan repayment to the Authority.
Line item details for these revenues and expenses are located in Exhibit A of the
Attachment.
ALTERNATIVES
The Authority may recommend further adjustments to the budget. Per State law, the
Authority must adopt a budget by June 30.
Prepared by: Claudia Martinez, Housing Authority Finance Director
Approved by: Jon McMillen, Housing Authority Executive Director
Attachment: 1. Fiscal Year 2024/25 Proposed Budget
E:3
ATTACHMENT 1
HOUSING AUTHORITY
2024/25 PROPOSED BUDGET
oca Qa�&a
CALIFORNIA
The Housing Authority budget provides resources for the evaluation of future affordable housing
projects and programs, ongoing operational needs, and property maintenance, as well as legal and
auditing services as required by the Authority.
The summary is designed to provide an overview of the Housing Authority Funds. Line item details
for revenues and expenses are located in Exhibit A of the Attachment. A preliminary review of the
proposed budget will be presented to the Housing Commission on June 12, 2024 and is scheduled
for adoption on June 18, 2024.
The 2024/25 Authority budget has three active funds restricted to housing operations. Estimated
Fund Balance, revenues, and expenditures for each fund are summarized below:
CITY OF LA QUINTA ESTIMATED
ENDING
BALANCES
FISCAL YEAR ENDING
JUNE 30, 2024
ESTIMATED
ESTIMATED
AVAILABLE FUND
ENDING FUND
•BALANCE
ESTIMATED
ESTIMATED
BALANCE
-July 1, 2024
REVENUES
EXPENDITURES•
2025
HOUSING AUTHORITY FUND 1!
11,500,0001W
1,452,000
� 1,715,440
� 11,236,560
—RDA LOW -MOD HOUSING FUND 1_
3,500,0001-
761,163
'l 250,000
4,011,163
SA 2011 LOW/MOD BOND A11r_
500,000"W
18,000
* 250,000
268,000
General Fund and RDA Low -Mod Housing Fund estimates are for unappropriated reserves and included annual Successor Agency
loan repayments as approved with the last and final recognized obligation payment schedule. The repayment for FY 2024/25 is
$701,163.
REVENUES
When all funds are combined, there is a 46% decrease in revenues from the current 2023/24 current
budget to the proposed 2024/25 budget. Funds 241 and 243 show a modest increase in allocated
interest due to current capital market conditions that are anticipated to remain for the upcoming year
and Fund 249 shows a decrease based on the available fund balance.
The Housing Authority Fund (241) has an overall increase of $50,500 primarily due to allocated
interest estimations for the upcoming year.
The RDA Low -Mod Housing Fund (243) recognizes the annual loan repayment from the Last and
Final Recognized Obligation Payment Schedule (ROPS) for the Successor Agency (former
Redevelopment Agency). For 2024/25 the total loan repayment is $3,505,817, which is allocated
80% to the General Fund ($2,804,654) and 20% to the Housing Authority Fund ($701,163). Any of
the Housing Authority portion of the revenue not expended will be recognized in reserves in Fund
243. The final loan repayment is scheduled for fiscal year 2029/30. Remaining outstanding loan
repayments after 2024/25 total $18,173,918 of which $3,634,784 will be allocated to the Housing
Authority. The overall increase in this fund of $30,000 is attributed to allocated interest.
p
The SA 2011 Low/Mod Bond (249) has an overall decrease of $1,405,009 and is attributed to a
one-time transfer from the General Fund in fiscal year 2023/24 for the acquisition of a vacant property
on Highway 111 and Dune Palms Road to be used for an affordable housing development and
connecting thoroughfare to CV Link along with a decrease in interest due to a lower fund balance.
EXPENSES
The Housing Authority Fund (241) has an overall estimated decrease of 14% which is mainly
attributed to the $400,000 decrease in Building/Site Improvements as about $500,000 in FY 2023/24
will be carried over into FY 2024/25 to continue building improvements at Dune Palms Mobile Home
Estates. An increase in rental expenses for La Quinta Palms Realty and Dune Palms Mobile Home
Estates to reflect current year-to-date activity. Increases in salary and benefits and contract services
are attributed to the current economy and inflationary impacts.
For RDA Low -Mod Housing Fund (243), revenues received from loan repayments have been used
for homelessness programs as approved by the Authority each fiscal year. Pursuant to California
Health and Safety Code's Community Development and Housing law, which states if the Authority
has fulfilled certain obligations, may expend up to $250,000 per fiscal year for homelessness
prevention, proposed budget for 2024/25 homelessness programs is $250,000.
The SA 2011 Low/Mod Bond (249) is anticipated to have a balance of $500,000 on June 30, 2024
and a $250,000 budget for 2024/25 provides for the ability to evaluate future affordable housing
projects and programs. The decrease in expenses as compared to FY 23/24 is due to the one-time
purchase of a vacant property on Highway 111 and Dune Palms Road.
10
EXHIBIT A
CITY OF
LA QU I NTA
r
L
j
w.
b
y
W
J-h wu
4
}GIRM
� � 1
Housing Authority
Proposed Budget
taQ��
CITY OF LA QUINTA
FY 2024/25 PROPOSED BUDGET
HOUSING AUTHORITY 2024/25 BUDGET SUMMARY
AVAILABLE FUND
FUND BALANCE
# FUND NAME July 1. 2024
ENDING FUND
ESTIMATED ESTIMATED BALANCE
REVENUES EXPENDITURES June 30. 2025
241 HOUSING AUTHORITY FUNLr q
11,
�11,236,5W
243* RDA LOW -MOD HOUSING FUND i�
249 SA2011 LOWIMOD BOND
3,_�761,1631
�
5%000'�
18,0D0AW
�4,011,163
268,000
GRAND TOTALS 15,500,000 1 2,231,1631 2,215,4401 15,515,723 1
* General Fund and RDA Law -Mod Housing Fund estimates are for unappropriated reserves and included annual Successor Agency
loan repayments as approved with the last and final recognized obligation payment schedule. The repayment for FY 2024i25 is
$701,163_
12
CITY OF LA QUINTA HOUSING AUTHORITY REVENUE DETAIL FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24 2023/24
2024/25
24/25 vs.
% Change in
Actuals
Original Budget
Current Budget YTD Activity*
Proposed
Current 23/24
Budget
241 - HOUSING AUTHORITY
9101 - Housing Authority - Admin
340 - Charges for Services
241-9101-42301 Miscellaneous Revenue
1
0
0 0 I
0
0
0%
340 - Charges for Services Totals:
1
0
0 0
0
0
00/0
360 - Use of Money & Property
241-9101-41900 Allocated Interest
248,848
150,000
150,000
(10,527)
200,000
50,000
33%
241-9101-41910 GASB 31 Interest
(54,726)
0
0
0
0
0
0%
241-9101-41915 Non -Allocated Interest
0
500
500
0
1,000
500
100%
241-9101-42706 Loan Repayments
190,528
0
0
0
0
0
0%
241-9101-43504 2nd Trust Deed RepayrrE
50,253
100,000
100,000
148,869
100,000
0
0%
241-9101-45000 Sale of Other Assets
0
0
0
118,416
0
0
0%
360 - Use of Money & Property Totals:
434,903
250,500
250,500
256,758
301,000
50,500
20%
101 - Housing Authority - Admin Totals: 434,904 250,500 250,500 256,758 301,000 50,500 20%
9103 - Housing Authority - LQRP
360 - Use of Money & Property
241-9103-43501 Miscellaneous Revenue/L 0 0 0 200,000 0 0 0%
241-9103-43502 Rent Revenue/LQRP 372,345 350,000 350,000 297,603 350,000 0 0%
360 - Use of Money & Property Totals: 372,345 350,000 350,000 497,603 350,000 0 00/0
9103 - Housing Authority - LQRP Totals: 372,345 350,000 350,000 497,603 350,000 0 00/0
9104 - Dune Palms Mobile Estates
360 - Use of Money & Property
241-9104-42112 Rent Revenue/Tenant/Du 786,712 800,000 800,000 607,317 800,000 0 0%
241-9104-42302 Miscellaneous Revenue/C 0 1,000 1,000 0 1,000 0 0%
360 - Use of Money & Property Totals: 786,712 801,000 801,000 607,317 801,000 0 00/0
104 - Dune Palms Mobile Estates Totals: 786,712 801,000 801,000 607,317 801,000 0 00/0
241 - HOUSING AUTHORITY Totals: 1,593,961 1,401,500 1,401,500 1,361,678 1,452,000 50,500 4%
243 - RDA LOW -MOD HOUSING FUND
0000 - Undesignated
360 - Use of Money & Property
243-0000-41900 Allocated Interest 69,979 30,000 30,000 (3,375) 60,000 30,000 100%
243-0000-41910 GASB 31 Interest (28,370) 0 0 0 0 0 0%
360 - Use of Money & Property Totals: 41,610 30,000 30,000 (3,375) 60,000 30,000 1000/0
370 - Miscellaneous
243-0000-48500 Extraordinary Gain 95,298 0 0 0 I 0 0 0%
370 - Miscellaneous Totals: 95,298 0 0 0 0 0 00/0
0000 - Undesignated Totals: 136,908 30,000 30,000 (3,375) 60,000 30,000 1000/0
243 - RDA LOW -MOD HOUSING FUND Totals: 136,908 30,000 2 30,000 (3,375) 60,000 30,000 1000/0
13
CITY OF LA QUINTA HOUSING AUTHORITY REVENUE DETAIL FY 2024/25 PROPOSED BUDGET
2022/23 2023/24 2023/24 2023/24 2024/25 24/25 vs. % Change in
249 - SA 2011 LOW/MOD BOND FUND (Re
0000 - Undesignated
340 - Charges for Services
249-0000-42301 Miscellaneous Revenue 1,106 0 0 0 I 0 0 0%
340 - Charges for Services Totals: 1,106 0 0 0 0 0 00/0
360 - Use of Money & Property
249-0000-41900 Allocated Interest
16,611
6,000
6,000
(697)
3,000
(3,000)
-50%
249-0000-41910 GASB 31 Interest
(5,220)
0
0
0
0
0
0%
249-0000-41915 Non -Allocated Interest
47,267
30,000
30,000
62,071
15,000
(15,000)
-50%
360 - Use of Money & Property Totals:
58,658
36,000
36,000
61,375
18,000
(18,000)
-50%
390 - Other Financing Sources
249-0000-49500 Transfers In 0 0 1,387,009 1,387,009 I 0 (1,387,009) -100%
390 - Other Financing Sources Totals: 0 0 1,387,009 1,387,009 0 (1,387,009) -1000/0
0000 - Undesignated Totals: 59,764 36,000 1,423,009 1,448,384 18,000 (1,405,009) -990/0
249 SA BOND FUND (Refinanced in 2016) Totals: 59,764 36,000 1,423,009 1,448,384 18,000 (1,405,009) -990/0
The Housing Authority budget invests in programs and projects that preserve and increase the supply of affordable housing in the City.
241 Housing Authority Fund: Second Trust Deed Payments and Home Sale Proceeds vary from year-to-year. Additional repayment of silent second
trust deeds are recognized upon receipt.
241-9101-45000, Sale of Other Assets revenues in FY 2023/2024 reflects the purchase and sale agreement between the City of La Quinta and the
La Quinta Housing Authority for vacant parcels to be used for future low/moderate affordable housing.
243 RDA Low -Mod Housing Fund: The 2024/25 former Redevelopment Agency loan repayment of $701,163 will be recognized in reserves within this
Fund.
249 Successor Agency (SA) 2011 Low/Mod Bond Fund was used for the acquisition of the vacant property located west of the Home Depot Center on
Highway 111, on the northeast corner of Highway 111 and Dune Palms Road proposed to be developed as an affordable housing development with a
connecting thoroughfare to CV Link in FY 2023/24. Remaining bond funds continue to earn interest and are available for future housing projects.
14
CITY OF LA QUINTA
HOUSING AUTHORITY EXPENSE DETAILS
FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
241 - HOUSING AUTHORITY
9101 - Housing Authority - Admin
50 - Salaries and Benefits
241-9101-50101 Permanent Full Time
282,118
312,700
312,700
275,803
322,000
9,300
3%
241-9101-50105 Salaries - Overtime
0
0
0
58
0
0
0%
241-9101-50110 Commissions & Boards
700
1,800
1,800
350
1,800
0
0%
241-9101-50150 Other Compensation
96
200
200
126
200
0
0%
241-9101-50200 PERS-City Portion
22,352
29,600
29,600
23,959
31,200
1,600
5%
241-9101-50215 Other Fringe Benefits
6,730
3,640
3,640
8,530
3,640
0
0%
241-9101-50221 Medical Insurance
49,290
67,000
67,000
46,815
70,000
3,000
4%
241-9101-50222 Vision Insurance
402
0
0
400
0
0
0%
241-9101-50223 Dental Insurance
2,612
0
0
2,438
0
0
0%
241-9101-50224 Life Insurance
182
0
0
154
0
0
0%
241-9101-50225 Long Term Disability
1,634
2,000
2,000
1,571
2,000
0
0%
241-9101-50230 Workers Comp Insurance
5,900
13,400
13,400
10,050
13,400
0
0%
241-9101-50240 Social Security -Medicare
4,130
4,600
4,600
4,005
4,800
200
4%
241-9101-50241 Social Security -FICA
87
0
0
28
0
0
0%
50 - Salaries and Benefits Totals:
376,234
434,940
434,940
374,286
449,040
14,100
3%
60 - Contract Services
241-9101-60103 Professional Services
68,352
75,000
75,000
64,978
75,000
0
0%
241-9101-60106 Auditors
3,780
5,000
5,000
0
5,000
0
0%
241-9101-60153 Attorney
15,568
20,000
20,000
24,944
25,000
5,000
25%
241-9101-60157 Rental Expenes
0
0
0
200,000
0
0
0%
60 - Contract Services Totals:
87,700
100,000
100,000
289,922
105,000
5,000
50/0
62 - Maintenance & Operations
241-9101-60320 Travel & Training
241-9101-60420 Operating Supplies
62 - Maintenance & Operations Totals
69 - Internal Service Charges
241-9101-91843 Property & Crime Insurar
241-9101-91844 Earthquake Insurance
241-9101-98110 Information Tech Charge
69 - Internal Service Charges Totals:
293 1,000 1,000 467 1,000 0 0%
119 2,000 2,000 734 2,000 0 0%
412 3,000 3,000 1,201 3,000 0 00/0
8,100 9,300 9,300 6,975 9,300 0 0%
16,100 18,200 18,200 13,650 18,200 0 0%
64,400 80,900 80,900 60,675 80,900 0 0%
88,600 108,400 108,400 81,300 108,400 0 00/0
101 - Housing Authority - Admin Totals: 552,947 646,340 646,340 746,710 665,440 19,100 3%
9103 - Housing Authority - LQRP
62 - Maintenance & Operations
241-9103-60157 Rental Expenses 760,748 300,000 300,000 325,464 I 350,000 50,000 17%
62 - Maintenance & Operations Totals: 760,748 300,000 300,000 325,464 350,000 50,000 17%
9103 - Housing Authority - LQRP Totals: 760,748 300,000 300,000 325,464 350,000 50,000 17%
15
CITY OF LA QUINTA HOUSING AUTHORITY EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
9104 - Dune Palms Mobile Estates
60 - Contract Services
241-9104-60103 Professional Services
118,328
100,000
100,000
84,227
100,000
0
0%
241-9104-60157 Rental Expense
383,008
350,000
350,000
339,223
400,000
50,000
14%
60 - Contract Services Totals:
501,337
450,000
450,000
423,450
500,000
50,000
110/0
68 - Capital Expenses
241-9104-72110 Building/Site Improveme 90,409 200,000 600,000 1,018 I 200,000 (400,000) -67%
68 - Capital Expenses Totals: 90,409 200,000 600,000 1,018 200,000 (400,000) -67%
104 - Dune Palms Mobile Estates Totals: 591,746 650,000 1,050,000 424,468 700,000 (350,000) -33%
241 - HOUSING AUTHORITY Totals: 1,905,441 1,596,340 1,996,340 1,496,641 1,715,440 (280,900) -14%
241 Housing Authority Fund: These funds are used to account for the housing activities of the Housing Authority which are to promote and provide quality
affordable housing.
16
CITY OF LA QUINTA HOUSING AUTHORITY EXPENSE NOTES
FY 2024/25 PROPOSED BUDGET
Fund: 241 - HOUSING AUTHORITY
241-9101-50101 Permanent Full Time 322,000.00
20% - City Manager (80% City Manager)
10% - Finance Director (90% Finance)
10% - City Clerk (90% City Clerk)
40% - Director- Business Unit & Housing Development (60%
City Manager)
60% - Management Analyst (40% Information Technology
Fund)
60% - Management Specialist (40% City Manager)
80% - Management Assistant (20% City Manager)
Housing Authority Member Stipends (5)
241-9101-60103 Professional Services 75,000.00
Housing compliance services
241-9101-60320 Travel & Training 1,000.00
For housing related training and staff development
241-9103-60157 Rental Expenses 350,000.00
Expenses associated with 28 homes owned by the Authority
which are located in the La Quinta Cove
241-9104-60103 Professional Services 100,000.00
For residential property management services at Dune Palms
Mobile Estates
241-9104-60157 Rental Expense 400,000.00
Expenses associated with 102 units owned by the Authority
which are located in North La Quinta
6
17
CITY OF LA QUINTA HOUSING AUTHORITY EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24 2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity* Proposed Budget
Current 23/24
in Budget
243 - RDA LOW -MOD HOUSING FUND
0000 - Undesignated
64 - Other Expenses
243-0000-60532 Homelessness Assistance
255,000
250,000
300,000
0 I 250,000
(50,000)
-17%
64 - Other Expenses Totals:
255,000
250,000
300,000
0 250,000
(50,000)
-17%
0000 - Undesignated Totals: 255,000 250,000 300,000 0 250,000 (50,000) -17%
243 - RDA LOW -MOD HOUSING FUND Totals: 255,000 250,000 300,000 0 250,000 (50,000) -17%
243 RDA Low -Mod Housing Fund: The 2024/25 former Redevelopment Agency loan repayment of $701,163 will be recognized in reserves within this Fund.
These funds are used to account for the housing activities of the Housing Authority which are to promote and provide quality affordable housing.
18
CITY OF LA QUINTA HOUSING AUTHORITY EXPENSE DETAILS FY 2024/25 PROPOSED BUDGET
2022/23
2023/24
2023/24
2023/24
2024/25
24/25 vs.
% Change
Actuals
Original Budget
Current Budget
YTD Activity*
Proposed Budget
Current 23/24
in Budget
249 - SA 2011 LOW/MOD BOND FUND (Re
0000 - Undesignated
68 - Capital Expenses
249-0000-74010 Land Acquisition
50,000
0
3,574,192
3,582,426
0
(3,574,192)
-100%
249-0000-80050 Affordable Housing Proje
15,245
250,000
250,000
0
250,000
0
0%
68 - Capital Expenses Totals:
65,245
250,000
3,824,192
3,582,426
250,000
(3,574,192)
-93%
0000 - Undesignated Totals: 65,245 250,000 3,824,192 3,582,426 250,000 (3,574,192) -93%
249 BOND FUND (Refinanced in 2016) Totals: 65,245 250,000 3,824,192 3,582,426 250,000 (3,574,192) -93%
249 Successor Agency Bond Fund: These funds are restricted per individual bond covenants and were used for the acquisition of the vacant property located
west of the Home Depot Center on Highway 111, on the northeast corner of Highway 111 and Dune Palms Road. This property is proposed to be developed as
an affordable housing development with a connecting thoroughfare to CV Link. Remaining funds are available for future housing projects. For FY 2024/25,
budget will be used for investment in design and development of projects.
19
POWER POINTS
HOUSING
AUTHORITY
SPECIAL MEETING
JUNE 43 2024
Housing Authority Special Meeting
June 4, 2024
t
� 3
c.:;1I.l� ' RNIA — —
Housing Authority Special Meeting
June 4, 2024
S1 - Discuss Fiscal Year 2024/25 Proposed
Budget I
4rj �x l
r �#r
Revenue Projections
■ Fund 241 — Adjustments to rent revenue & interest earnings
■ Fund 243 — Includes annual loan repayment $701,163 & interest earnings
■ Fund 249 — Reduction due to land purchase on HWY 111 & Dune Palms Rd
Va ria nce Variance 0/0
2023/24 2023/24 2024/25
Housing Fund Revenues Original Current Original vs. proposed Current vs. Change
Current Adopted
Total Operating Revenues 2,154,915
1,163 (1,310,761)
Expense Projections
■ Fund 241 — Rental expenses, legal fees, and salaries & benefits
■ Fund 243 — Homelessness funding
■ Fund 249 - Evaluate future affordable housing projects, no anticipated land
purchases
2023/24 2023/24 Variance 2024/25 Variance %
Housing Fund Expenditures nrininal f ,irran* Original vs. Drnnncarl Current vs. rhnnna
Total Expenditures 2,096,340 6,120,532 (3,905,092) 2,215,440 (3,905,092) -64%
Housing Fund Balances
CITY OF LAQUINTA ESTIMATED ENDING FUND BALANCES
FISCAL YEAR ENDING JUNE 30, 2024
ESTIMATED ESTIMATED
AVAILABLE FUND ENDING FUND
BALANCE ESTIMATED ESTIMATED BALANCE
FUND NAME July 1.2024 REVENUES EXPENDITURES June 30.2025
now— = GRAND TOTPMW- 15,500,000 2,231,163 2,215,440 15,515,723
W ll�
" General Fund and RDA Low-lvlod Housing Fund estimates are for unappropriated reserves and included annual
Successor Agency loan repayments as approved with the last and final recognized obligation payment schedule. The
repayment for FY 2024/25 is $701,163.
FY 2024/25
Proposed Budget
Next Steps _.
• Housing Commission review & approval on
06/12/2024
• Budget Adoption on 06/18/2024
• Monitor and adjust as needed
For the latest budget information visit.
www.laquintaca.gov/business/finance/budget - e
CALIFORNIA -
�s .