RDA Resolution 2000-13
RESOLUTION RA 2000-13
A RESOLUTION OF THE LA GUINTA REDEVELOPMENT
AGENCY APPROVING AN "ASSIGNMENT AND
ASSUMPTION AGREEMENT AND AMENDMENT TO
AFFORDABLE HOUSING AGREEMENT," BY AND
AMONG THE AGENCY, RGC COURTHOMES, INC., AND
DC & TC JOINT VENTURE LLC
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 !i 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.2 ("Project Area"); and
WHEREAS, the Agency and the City Council, after a duly noticed joint
Public Hearing, approved an Affordable Housing Agreement ("AHA") with RGC
CourtHomes, Inc., a California corporation ("RGC") for the conveyance by the Agency
of a site owned by the Agency for development of a fifty-nine (59) unit "for sale"
single family detached housing project on a site located within the Project Area, with
not fewer than twenty-five (25) of the units required to be developed as affordable
units to be sold at an affordable housing cost to persons and families with incomes not
exceeding moderate income as defined in California law (the "Project"); and
WHEREAS, RGC desires to assign the AHA to DC & TC Joint Venture
LLC, a California limited liability company ("Assignee"); and
WHEREAS, Assignee, in conjunction with the assignment, desires to
make certain modifications to the AHA; and
WHEREAS, to effect the assignment of the AHA and the modifications
to the AHA, RGC, Assignee, and Agency staff negotiated the contents of an
"Assignment and Assumption Agreement and Amendment to Affordable Housing
Agreement" (the "Assignment/Amendment"); and
WHEREAS, Agency staff and legal counsel have reviewed the proposed
Assignment/Amendment and have determined that the proposed assignment is
consistent with the terms of the AHA and that the proposed modifications to the AHA
included in the Assignment/Amendment do not materially affect the substantive
business terms set forth in the AHA; and
Resolution RA 2000-13
Affordable Housing Agreement
RGe Courthomes lnc./Desert Cities Development
Adopted: September 19. 2000
Page 2
WHEREAS, all action required of the Agency to be taken precedent to
review and consideration of the Agreement by the Agency have been taken in
accordance with applicable law;
NOW, THEREFORE, the La Ouinta Redevelopment Agency hereby resolves
as follows:
1. The Agency finds and determines that (i) the Assignment/Amendment is
consistent with the terms and purposes of the AHA and that the modifications
to the AHA set forth in the Assignment/Amendment do not materially affect the
substantive business terms pertaining to the Project set forth in the AHA, and
(ii) the Assignment/Amendment is in the best interests of the citizens of the City
of La Ouinta and effectuates the purposes of the Redevelopment Plan.
2. The Assignment/Amendment, by and among the Agency, RGC, and Assignee,
a copy of which is on file with the Agency Secretary, is here approved. The
Agency Executive Director and Agency Counsel are hereby authorized and
directed to make final modifications to the Assignment/Amendment that are
consistent with the substantive terms of the Assignment/Amendment approved
hereby, and the Agency Executive Director is authorized to thereafter sign the
Assignment/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, that require the Agency's signature, and to take such
other and further actions, as may be necessary and proper to carry out the
terms of the AHA as modified by the Assignment/Amendment.
PASSED, APPROVED and ADOPTED this 19th day of September, 2000,
by the following vote:
AYES: Members Adolph, Pefia, Perkins, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
Resolution RA 2000-13
Affordable Housing Agreement
Rae Courthomes Inc./Desert Cities Development
Adopted: September 19, 2000
Page 3
ATTEST:
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JU~ . GREE.K, Agency ary
L<(Ouinta Redevelopment Agency
(Agency.Seal)
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APPROVED AS TO FORM:
~~
M. HER NE JENSOr~.i~A~nCy Counsel
La Inta Redevelop~ency
TERRY ENDERSON, Chair
La Ouin a Redevelopment Agency