RDA Resolution 2002-21 RESOLUTION NO. RA 2002-21
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING THE "FIRST AMENDMENT TO AN
AFFORDABLE HOUSING REHABILITATION AGREEMENT"
BETWEEN THE AGENCY AND LA QUINTA 34 LLC
LA QUINTA PALMS APARTMENTS
LAWRENCE RAEL
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a public
body, corporate and politic, organized and existing under the California Community
Redevelopment Law ("Health & Safety Code § 33000 et seq.) ("CRL"); and
WHEREAS, pursuant to the CRL, the Agency and the City Council of the
City of La Quinta ("City" or "City Council," as applicable) previously approved and
adopted the Redevelopment Plan, as amended ("Redevelopment Plan") for Project Area
No. 1 ("Project Area"); and
WHEREAS, the Agency is engaged in activities leading to increasing and
improving the supply of affordable housing within and outside the Project Area; and
WHEREAS, on September 13, 2001 the Agency entered into that certain
Affordable Housing Rehabilitation Agreement ("original Agreement") with La Quinta
34 LLC, a California limited liability company ("Participant") which is the owner of that
certain real property improved with an apartment complex located generally southeast
of the Eisenhower Drive/Calle Tampico intersection and known as Assessor Parcel No.
773-071-017 ("Apartment Parcel"); and
WHEREAS, the Agency and the Participant desire to amend the Original
Agreement on the terms set forth in the First Amendment to Affordable Housing
Rehabilitation Agreement ("Amendment"); and
WHEREAS, all actions required of the Agency to be taken precedent to
review and consideration of the Amendment by the Agency have been taken in
accordance with applicable law.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of
the City of La Quinta, California, as follows:
1. The Agency finds and determines that the Amendment effectuates the purposes
of the Community Redevelopment Law (Health & Safety Code § 33000 et seq.)
and of the Plan and is in the best interests fo the citizens of the City of La
Quinta.
Resolution No. RA 2002-21
First Amendment / La Ouinta 34 LLC / Lawrence Reel
Affordable Housing Rehabilitation Agreement
Adopted: December 17, 2002
Page 2
2. The Amendment, a copy of which is on file with the Agency Secretary, is
hereby approved. The Agency Executive Director and Agency Counsel are
hereby authorized and directed to make final modifications to the Amendment
that are consistent with the substantive terms of the Amendment approved
hereby, and the Agency Executive Director is authorized to thereafter sign the
Amendment on behalf of the Agency.
3. The Agency Executive Director is authorized and directed, on behalf of the
Agency, to sign such other and further documents, including, but not limited to
subordination agreements and escrow instructions, that require the Agency's
signature, and to take such other and further actions, as may be necessary to
properly carry out the terms of the Amendment.
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Redevelopment Agency held this 17th day of December, 2002, by the following vote:
AYES: Members Adolph, Osborne, Perkins, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
JUNE~o~. (~t~EEK, CMC, g y sec etary
La Quinta Redevelopment Agency
(AGENCY SEAL)
Resolution No. RA 2002-21
First Amendment / La Quinta 34 LLC / Lawrence Rael
Affordable Housing Rehabilitation Agreement
Adopted: December 17, 2002
Page 3
APPROVED AS TO FORM:
M. KATHERINE JENS~N//Agency Counsel
La Quinta Redevelopment Agency