RDA Resolution 2000-04 RESOLUTION NO. RA 2000-04
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LA QUINTA AUTHORIZING APPROPRIATIONS, ESTABLISHING A LOAN
FROM THE CITY OF LA QUINTA TO THE LA QUINTA REDEVELOPMENT
AGENCY MAKING CERTAIN FINDINGS, AND AWARDING A CONTRACT
FOR PHASE VI A, B, C, AND D IMPROVEMENTS, PROJECT NO. 98-19
WITHIN ASSESSMENT DISTRICT 2000-1
WHEREAS, the activities of the La Quinta Redevelopment Agency (the
"Agency") Project Area No. 1 and 2 cause improvements to be done that are
beneficial to both the City of La Quinta (the "City") and the Agency; and
WHEREAS, current Agency - Project Area No. 1 and 2 revenues are of a limited
nature, although additional future revenues would be forthcoming as development
continues; and
WHEREAS, the City desires that the Agency - Project Are~ No. 1 and 2
continues with such mutually beneficial improvements and particularly with the Phase
VI A, B, C, and D Improvements, Project No. 98-19 within Assessment District 2000-
I (the "Project"); and
WHEREAS, the City has authority to provide a loan to the Agency as an
investment under Government Code Section 53601 (d) and the City's Investment
Policy; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of La
Quinta, California as follows:
Section 1: The Project is hereby found to be categorically exempt under the
California Environment Quality Act Sections 15301 & 15302 of
the guidelines due to the fact that it consists of improvements,
alterations, and reconstruction of existing public streets.
Section 2: That portion of the Project be funded with Agency funds is of
benefit to the Project Area No. 1 and 2 and no ocher reasonable
means of financing such improvements are available to the
community.
Section 3: The attached Promissory Note with no specified repayment date
and an interest rate of 10%, between the City and the Agency be
approved in an amount not to exceed 81 ,500,000.
Resolution No. RA 2000-04
AD 2000-1/Project 98-19
Adopted: June 20, 2000
Page 2
Section 4: Authorize an appropriation of funds from the Village Parking
District fund in the amount of 929,236, for parking improvements
within Project Area A (Village Commercial).
Section 5: Authorize an appropriation of 91,922,953 of RDA Project Area
No. 1 funds to support construction of curb, gutter, street and
storm drain improvements within Project Areas A, B and
Prototypical Street.
Section 6: Adopt a Resolution authorizing a loan from the City General Fund
Reserves to the Agency Project Area No. 2 in the amount of
81,500,000 to support construction of improvements within
Project Areas C and D.
Section 7: Appropriate an additional 9560,560 from RDA Project Area No.
2 Capital Improvement Program (CIP) Fund Reserve account
(Account No. 245-300-290) to support construction of Project
Area C curb, gutter, street and storm drain improvements.
Section 8: Appropriate an additional 9173,200 from RDA Project Area No.
2 CIP Fund Reserve account (account//245-300-290) to support
construction of Area D curb, gutter, street and storm drain
improvements.
Section 9: Award a contract to Granite Construction Company in the amount
of ~4,054,844 to construct improvements including curb, gutter,
street improvements, drainage improvements, and public sewer
within Phase VI Project No. 98-19, Project Areas A, B, including
enhancements to Calle Estado (Prototypical Street), within
Assessment District 2000-1, contingent upon the sale of bonds.
Section 10: Award a contract to Granite Construction in the amount of
9370,587 to construct waterline replacements within Phase VI
Project No. 98-19, Project Areas A and B contingent upon
acceptance of the unit prices bid for the domestic water system
improvements by the Coachella Valley Water District (CVWD).
Resolution No. RA 2000-04
AD 2000-1/Project 98-19
Adopted: June 20, 2000
Page 3
Section 11: Award a contract to Granite Construction Company in the amount
of ~1,285,769 to construct improvements within Phase VI
Project No. 98-19 Project Area C, within Assessment District
2000-1, contingent upon the sale of bonds.
Section 12: Award a contract to Granite Construction in the amount of
$125,905 to construct waterline replacements within Phase'~VI
Project No. 98-19 Project Area C contingent upon acceptance of
unit prices for domestic water system improvements by Coachella
Valley Water District (CVWD).
Section 13: Award a contract to Granite Construction Company in .the amount
of ~977,232 including additive alternate #1 (sound wall at
Saguaro, Sagebrush, and Bottlebrush), to construct improvements
within Phase VI Area D, Project No. 98-19, Within Assessment
District 2000-1, contingent upon the sale of bonds.
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City
Council, held on this 20th day of June, 2000, by the following vote, to wit:
AYES: Members Adolph, Pe~a, Perkins, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
TERRY ~ENDERSON, Chair
La Quinta Redevelopment Agency
Resolution No. RA 2000-04
AD 2000-1/Project 98-19
Adopted: June 20, 2000
Page 4
ATTEST:
JU~~RE E ~A~
La Quinta RedeVelopment Agency
(Agency Seal)
APPROVED AS TO FORM:
By: M. KATHERINE JENSON, Acting Agency Counsel
La Quinta Redevelopment Agency