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2025 09 08 CC Minutes Sp MtgCITY COUNCIL MINUTES SPECIAL MEETING MONDAY, SEPTEMBER 8, 2025 CALL TO ORDER A special meeting of the La Quinta City Council was called to order at 3:30 p.m. by Mayor Evans. PRESENT: Councilmembers Fitzpatrick, McGarrey, Pena, Sanchez, and Mayor Evans ABSENT: None PLEDGE OF ALLEGIANCE Mayor Evans led the audience in the Pledge of Allegiance. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None CONFIRMATION OF AGENDA — Confirmed CLOSED SESSION 1. CONFERENCE WITH LEGAL COUNSEL — EXISTING LITIGATION; PURSUANT TO PARAGRAPH (1) OF SUBDIVISION (d) OF GOVERNMENT CODE SECTION 54956.9; CASES NAMES AND NUMBERS — MULTIPLE (listed below, all in U.S. Bankruptcy Court, District of Delaware) CASE NAME: CASE NUMBER SilverRock Development Company, LLC 24-11647 SilverRock Lifestyle Residences, LLC 24-11648 SilverRock Lodging, LLC 24-11650 SilverRock Luxury Residences, LLC 24-11652 SilverRock Phase I, LLC 24-11654 RGC PA 789, LLC 24-11657 COUNCIL RECESSED THE OPEN SESSION PORTION OF THE MEETING AND MOVED INTO CLOSED SESSION AT 3:32 P.M. MAYOR EVANS RECONVENED THE OPEN SESSION PORTION OF THE CITY COUNCIL MEETING AT 5:17 P.M. WITH ALL MEMBERS PRESENT CITY COUNCIL MINUTES SPECIAL MEETING Page 1 of 2 SEPTEMBER 8, 2025 REPORT ON ACTION(S) TAKEN IN CLOSED SESSION: City Attorney Ihrke reported no actions were taken in Closed Session that require reporting pursuant to Government Code section 54957.1 (Brown Act). Mr. Ihrke said the City has been providing periodic updates on the voluntarily petitioned Chapter 11 bankruptcy in U.S. Bankruptcy Court in Delaware by the SilverRock Development Company, LLC and its affiliates (debtors); and prior announcements regarding the bankruptcy case are available on the City's website at www.laquintaca.gove/talus. Mr. Ihrke noted the U.S. Bankruptcy Court held a hearing on September 3, 2025, during which the court granted the debtor's motion to extend their exclusivity to propose a reorganization plan. After the judge heard argument and evidence, the court ruled that this "very complex" case is moving along satisfactorily, and that the process had accommodated the ability for multiple parties to propose bids and projects. The court also noted that the City has a strong interest in the subsequent owner and developer of the debtors' assets, and thus, allowed the process to continue under the Bankruptcy Court -approved "Bid Procedures" and keeping in place, for now, debtors' exclusive right to submit a reorganization plan. Council's authorization remains in place for the City Attorney, in coordination with the City Attorney's Office and Special Counsel, to defend and protect the interests of the City in the multiple bankruptcy cases filed by SilverRock Development Company and its responsive affiliates as reported out for Closed Session Item No. 2 from the August 6, 2024, Council meeting. MAYOR AND COUNCILMEMBERS' ITEMS Mayor Evans said the annual 9/11 Candlelight Vigil will be held this upcoming Thursday at the Civic Center Campus starting at 7 p.m., which will be adjourned in honor of former Financial Advisory Commissioner Richard (Dick) Mills, who served La Quinta for many years and recently passed away; noted the services will be held on September 9, 2025, and expressed her condolences and support for his wife and family. ADJOURNMENT There being no further business, a motion was made and seconded by Councilmembers Pena/Fitzpatrick to adjourn at 5:19 p.m. Motion passed unanimously. Respectfully submitted, MONIKA RADEVA, City Clerk City of La Quinta, California CITY COUNCIL MINUTES SPECIAL MEETING Page 2 of 2 SEPTEMBER 8, 2025