CC Resolution 1991-003^"= RESOLUTION NO. 91-3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LA QUINTA APPROVING AN OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AND LA QUINTA REAL ESTATE
PARTNERSHIP; DETERMINING THAT THE CONSTRUCTION
OF CERTAIN PUBLIC IMPROVEMENTS ADJACENT TO THE
SITE IS OF BENEFIT TO REDEVELOPMENT PROJECT
NO. 2 AND THE IMMEDIATE NEIGHBORHOOD IN WHICH
THE PROJECT IS LOCATED; DETERMINING THAT THERE
ARE NO OTHER REASONABLE MEANS OF FINANCING
SAID IMPROVEMENTS; AND AUTHORIZING THE
EXECUTION AND DELIVERY OF SAID OWNER
PARTICIPATION AGREEMENT.
WHEREAS, the La Quinta Redevelopment Agency Agency") is
authorized to carry out the redevelopment of the Redevelopment
Project Area No. 2 Project Area"); and
F
WHEREAS, the Redevelopment Plan for the Project Area
authorizes and directs the Agency to pay all or part of the value
of the construction of certain public improvements; and
WHEREAS, the Agency desires to enter into an Owner
Participation Agreement OPA") with La Quinta Real Estate
Partnership the Participant"), substantially in the form
presented to the Agency at the meeting at which this resolution was
adopted; and
WHEREAS, pursuant to the OPA, the Agency shall bear certain
costs for Whitewater Channel improvements adjacent to the Site the
Channel Improvements") as more particularly described in the OPA;
and
WHEREAS, the City has previously conducted its environmental
review of the activities contemplated by the OPA and has approved
a Negative Declaration EA No. 89-129, Case No. PP 89-417) in
connection therewith; and
WHEREAS, California Health and Safety Code Section 33445
provides that a redevelopment agency may, with the consent of the
legislative body, pay all or part of the value of public buildings,
facilities, structures or other improvements upon finding that such
public improvements are of benefit to the project area or the
immediate neighborhood in which the project is located and that
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^"=there are no other reasonable means of financing such public
improvements available to the comunity.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LA QUINTA DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1: The City Council hereby approves the form of the
OPA presented to the City Council at the meeting at which this
resolution was adopted.
Section 2: The City Council hereby determines that the
acquisition, construction and installation of the Channel
Improvements is of benefit to the Project Area and the surrounding
neighborhood in which the project is located.
Section 3: The City Council hereby determines that it is
appropriate to construct and install or cause the construction and
installation of the Channel Improvements and that there are no
other reasonable means of financing the Channel Improvements.
PASSED, APPROVED AND ADOPTED this 15 day of January
1991 at a regular meeting of the City Council of the City of La
Quinta by the following vote:
AYES: Council Members Bohnenberqer, Franklin, Rushworth, Sniff,
Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
City of La Quinta
City of La Quinta
APPROVED AS TO FORM:
DAWN HONEYWELL, CIT* ATTORNEY
City of La Quinta
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