RDA Resolution 2007-004RESOLUTION NO. RA 2007-004
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA, CALIFORNIA,
ADOPTING THE FISCAL YEAR 2007/2008 THROUGH
2011/2012 CAPITAL IMPROVEMENT PLAN AND
MAKING CERTAIN FINDINGS PURSUANT TO HEALTH
AND SAFETY CODE SECTION 33445(a) AND
CONSENTING TO THE EXPENDITURE OF FUNDS FOR
THE IMPROVEMENTS
WHEREAS, pursuant to Government Code Section 66002, the La Quinta
Redevelopment Agency ("Agency") is required to review and adopt a Capital
Improvement Plan (the "Plan"); and
WHEREAS, the City is required to conduct a noticed public hearing for
consideration of adoption of the Plan; and
WHEREAS, notice of the public hearing has been given pursuant to
Governrnent Code Section 65090; and
WHEREAS, the Plan is a five-year planning instrument used by the City to
identify capital improvement needs and to coordinate financing and timing of those
needs in a manner that maximizes the return to the Public; and
WHEREAS, the Plan is a statement of the City's goals, objectives and
prio6ties for a five-year Plan and the financial commitments required to accomplish
those objectives; and
WHEREAS, the Fiscal Year 2007/2008 through 2011/2012 Plan proposes
approximately $90,316,537 in improvement projects and $68,584,237 of
unfunded additional improvement projects over the five-year period, commencing
on July 1, 2007 and ending June 30, 2012 and
WHEREAS, the amount allocated from the Plan for first -year projects, called
the capital budget, proposes $67,395,836 in improvements, as shown in Exhibit 1,
heretofore made a part of this Resolution; and
WHEREAS, there is inadequate funding within the City's General Fund or
from other sources to completely and fully fund the improvements identified within
the capital budget; and
Resolution No. RA 2007-004
Capital Improvement Plan
Adopted: May 1, 2007
Page 2
WHEREAS, the completion of the improvements identified within the capital
budget will help to obtain the goals and objectives of La Quinta Redevelopment
Project Area No. 1 and Project Area No. 2 (Project Area(s)") as well as to afford an
opportunity to eliminate conditions of blight in the Project Area; and
WHEREAS, it would be in the best interest of the public to completely fund
all improvements identified within the capital budget.
NOW THEREFORE, BE IT RESOLVED, by the Agency:
SECTION 1. The above recitations are true and correct and are adopted as
the findings of the Agency.
SECTION 2. The Agency does hereby adopt the Fiscal Year 2007/2008
through 2011/2012 Capital Improvement Plan, and approve the capital budget, as
shown in Exhibit 1, heretofore made a part of this Resolution.
SECTION 3. The Agency hereby consents to Agency funding to be utilized to
fund certain improvements within the Fiscal Year 2007/2008 Capital Budget.
SECTION 4. Pursuant to Health and Safety Code Section 33445(a), the
Agency finds and determines that:
A. The proposed improvements identified within the Fiscal Year
2007/2008 Capital Budget are of benefit to the Redevelopment Agency Project
Area No. 1 and Project Area No. 2, and to the immediate neighborhoods in which
the improvements will be located.
B. No other reasonable means of financing the improvements are
available to the community.
C. The proposed improvements identified within the Fiscal Year
2007/2008 Capital Budget will assist in the elimination of one or more blighting
conditions inside the Project Areas and are consistent with the Agency's
implementation plan adopted pursuant to Section 33490.
BE IT FURTHER RESOLVED, the Agency for the City of La Quinta authorizes
the inclusion of said capital budget into the Fiscal Year 2007/2008 operating
budget, which appropriates funds for specific facilities, equipment and
improvements.
PASSED, APPROVED and ADOPTED at a regular meeting of the Agency held
on this 1 st day of May, 2007, by the following vote to wit:
Resolution No. RA 2007-004
Capital Improvement Plan
Adopted: May 1, 2007
Page 11
AYES: Board Members Adolph, Henderson, Kirk, Sniff, Chairman Osborne
NOES: None
ABSENT': None
ABSTAIN: None
kt'E M. OSBORNE, Chairperson
La Quinta Redevelopment Agency
ATTEST:
VERONICA J.
La Quinta Rec
(SeaO
D, CMC, Agency
Agency
APPROVED AS TO FORM:
KATHERINE JENSb1q, Agency Counsel
La Quinta Redevelopment Agency
a