1992 09 15 RDA Minutesl5065Z! LA QUINTA REDEVELOPMENT AGENCY
MINUTES
SEPTEMBER 15, 1992
Regular meeting of the La Quinta Redevelopment Agency was called to
order by Chairman Pena.
PRESENT: Mr. Bohnenberger, Mrs. Franklin, Mr. Rushworth, Mr.
Sniff, Chairman Pena
ABSENT: None
CONFIRMATION OF AGENDA
MOTION It was moved by Mr. Sniff, seconded by Mr. Bohnenberger
that the matter of the Otis litigation be added to the Closed
Session agenda noting that the need to take action arose after the
posting of the agenda. Motion carried unanimously.
MOTION It was moved by Mr. Sniff, seconded by Mrs. Franklin that
the acceptance of improvements and appropriation of funds for
Project 91-13 be added to the Consent Calendar noting that the need
to take action arose after the posting of the agenda. Motion
carried unanimously.
APPROVAL OF MINUTES
MOTION It was moved by Mr. Bohnenberger, seconded by Mrs.
Franklin that the Minutes of August 4, August 18 and September 1,
1992 be approved as submitted. Motion carried unanimously.
PUBLIC COMMENT None
BUSINESS SESSION
1. CONSIDERATION OF ADOPTION OF RESOLUTION APPROVING A DRAFT
INDENTURE OF TRUST SECURING NOT TO EXCEED $6,000,000 LA QUINTA
REDEVELOPMENT PROJECT AREA NO. 2, TAX ALLOCATION BONDS, ISSUE
OF 1992 AND APPROVING A PRELIMINARY OFFICIAL STATEMENT.
Mr. Bohnenberger questioned the affect the deletion of PharMor
will have on this project and Mr. Genovese advised the
analysis would be reflected in the projections of PharMor and
its assessed value as it relates to projections for the tax
increment. That will be taken into account and could lower the
sizing of the this issue.
Mr. Bohnenberger asked if that happens, will we be able to
meet our contractual obligations to TDC and Mr. Genovese
believed that we will.
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In response to Mrs. Franklin, Ms. Honeywell advised that the
Owner/Participation agreement will have to be amended to
reflect a change in the pharmacy at the appropriate time.
RESOLUTION NO. RA 92-18
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LA QUINTA
REDEVELOPMENT AGENCY APPROVING A DRAFT INDENTURE OF TRUST
SECURING NOT TO EXCEED $6,000,000 LA QUINTA REDEVELOPMENT
PROJECT AREA NO. 2, TAX ALLOCATION BONDS, ISSUE OF 1992 AND
APPROVING A PRELIMINARY OFFICIAL STATEMENT.
It was moved by Mr. Sniff, seconded by Mr. Bohnenberger that
Resolution No. RA 92-18 be adopted. Motion carried
unanimously.
PUBLIC HEARINGS None
CONSENT CALENDAR
1. APPROVAL OF DEMAND REGISTERS DATED AUGUST 18, SEPTEMBER 1 AND
SEPTEMBER 15, 1992.
2. APPROVAL OF CONSULTANT SERVICES FOR CONSTRUCTION STAKING ON
THE CALLE TAMPICO IMPROVEMENT PROJECT AT A COST NOT TO EXCEED
$35,000.
3. AUTHORIZATION FOR APPRAISAL OF PROPERTY AT ThE SOUTHEAST
CORNER OF HIGHWAY 111 AND WASHINGTON STREET.
4. ADOPTION OF RESOLUTION AND APPROVAL OF REIMBURSEMENT AGREEMENT
WITH COACHELLA VALLEY WATER DISTRICT FOR CALLE TAMPICO AND
AVENIDA BERMUDAS SANITARY SEWER.
5. ACCEPTANCE OF PROJECT 92-11 LOW-MOD SEWER HOOK-UP) AND
AUTHORIZATION FOR CITY CLERK TO RECORD NOTICE OF COMPLETION.
6. ACCEPTANCE OF IMPROVEMENTS AND APPROPRIATE FUNDS FOR PROJECT
CLOSE-OUT PROJECT 91-13, AVENUE 52 IMPROVEMENTS FROM AVENIDA
BERMUDAS TO WASHINGTON STREET.
MOTION It was moved by Mr. Sniff, seconded by Mrs. Franklin
that the Consent Calendar be approved as.recomended with Item
No. 4 being approved by RESOLUTION NO. RA 92-19. Motion
carried unanimously.
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CLOSED SESSION
a. Discussion of on-going litigation pursuant to Government Code
Section 54956.9(a)
Otis Eminent Domain
The Board reconvened with no action being taken.
There being no further business, the meeting was adjourned.
Re ectfully submitted,
**L.JUH A
La Quinta Redevelopment Agency
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