1997 07 15 RDA Minutes LA QUINTA REDEVELOPMENT AGENCY
MINUTES
JULY15, 1997
Regular meeting of the La Quinta Redevelopment Agency was called to order by
Chairman Sniff.
PRESENT: Board Members Adolph, Henderson, Holt, Perkins, Chairman Sniff
ABSENT: None
PUBLIC COMMENT None
CONFIRMATION OF AGENDA Confirmed
APPROVAL OF MINUTES
MOTION It was moved by Board Members Henderson/Holt to approve Minutes of
July 1, 1 997 as submitted. Motion carried unanimously.
BUSINESS SESSION
1. CONSIDERATION OF FISCAL YEAR 1997198 BUDGET.
RESOLUTION NO. RA 97-03
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY APPROVING
A BUDGET FOR FISCAL YEAR 1997198.
It was moved by Board Members Adolph/Holt to adopt Resolution No. RA
97-03 as submitted and receive and file the Five-Year Resource Allocation Plan.
Motion carried unanimously.
2. CONSIDERATION OF MODIFICATIONS TO THE LA QUINTA HOUSING
PROGRAMS HOME PURCHASE SECOND TRUST DEED LOAN PROGRAM.
Mr. Herman, Community Development Director, advised that staff is
recommending the establishment of loan amount values for the income category
of second trust deed loans at $65,000 for very-low income, $50,000 for low
income, and $25,000 for moderate income. Staff further recommended that
a program be implemented whereby funds for the loans would be reserved for
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a period of 10 working days to give lenders time to secure the first trust deeds.
He asked Council for direction regarding three suggestions as outlined in the
staff report) that various lenders and realtors have made, including a newsletter
which staff has already implemented.
Council Member Henderson felt that it's been a successful program and
understood the need for the recommended guidelines. She didn't have a
problem with the newsletter and agreed with staff's analysis that the Agency
should not be exclusive in its use of lenders for the program. She also agreed
that second trust deeds shouldn't be approved for homes with pools because
pools are a luxury.
Board Member Holt concurred.
Chairman Sniff advised that he agrees with staff's recommendations.
MOTION It was moved by Board Members Henderson/Holt to approve the
modifications to the La Quinta Housing Program Home Purchase Second Trust
Deed Loan Program as recommended by staff; to continue with the newsletter
and with no limitation on the number of lenders and to preclude homes with
pools. Motion carried unanimously
CONSENT CALENDAR
APPROVAL OF DEMAND REGISTER DATED JULY 15, 1997.
2. TRANSMITTAL OF TREASURER'S REPORT DATED MAY 31, 1997.
MOTION It was moved by Board Members Adolph/Perkins that the Consent
Calendar be approved as recommended. Motion carried unanimously.
DEPARTMENT REPORTS
1. REVENUE AND EXPENDITURES REPORT DATED MAY31, 1997.
MOTION It was moved by Board Members Adolph/Perkins to receive and file
the Revenue & Expenditures Report dated May 31, 1 997. Motion carried
unanimously.
CHAIR AND BOARD MEMBERS' ITEMS None
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PUBLIC HEARINGS None
Agency recessed to Closed Session.
CLOSED SESSION
1. Conference with special legal counsel pursuant to Government Code Section
54958.9(a), regarding ongoing litigation REFCO Case No. CV 92-7626 RJK.
2. Conference with Agency*s real property negotiator concerning property located
at 78-120 Caleo Bay Drive, pursuant to Government Code Section 54956.8,
instructing the negotiator concerning an amendment to the Owner Participation
Agreement. Property Owner/Negotiator: Harold C. and Harriet S. Harris.
Agency Board reconvened with no decision being made which requires reporting
pursuant to Section 54957.1 of the Government Code Brown Act).
There being no further business, the meeting was adjourned. Motion carried
unanimously.
Re p otfully submitted,
SAUNDRA L. JU OLA, Secretary
La Quinta Redevelopment Agency
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