RDA Resolution 2011-019 ARESOLUTION NO. RA 2011 — 019 A
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY OF THE CITY OF LA QUINTA CALIFORNIA
CONSENTING TO THE EXPENDITURE OF FUNDS FOR
THE HIGHWAY 111 MEDIAN ISLAND LANDSCAPE
IMPROVEMENTS, MAKING CERTAIN FINDINGS
PURSUANT TO HEALTH AND SAFETY CODE SECTION
33445(a) WITH RESPECT TO THE AGENCY'S
EXPENDITURES, AND APPROVING A FINANCING
AGREEMENT BETWEEN THE CITY AND THE LA QUINTA
REDEVELOPMENT AGENCY RELATING TO THE
IMPROVEMENTS
WHEREAS, the Highway 111 Median Island Landscape Improvements are
located in La Quinta Redevelopment Project Area No. 2 (the "Project Area "); and
WHEREAS, the construction and installation of the Highway 111 Median
Island Landscape Improvements would afford the Redevelopment Agency the
opportunity to address the blighting conditions; and
WHEREAS, there is inadequate funding within the City's General Fund,
Development Impact Fee Fund or from other sources to construct the proposed
Highway 111 Median Island Landscape Improvements, in that (1) the City's
General Funds are needed to provide essential public services, such a police
services and maintenance of existing public improvements, (2) payments into the
City's Development Impact Fee Fund has sharply declined with the economic
downturn, and (3) the amounts currently on deposit in Development Impact Fee
Fund needed for other public infrastructure projects and to fund the repayment of
certain financing and reimbursement agreements and; and
WHEREAS, there are many vacant businesses along the Highway 111
corridor in the City of La Quinta, and the Median Island Landscape Improvements
will enhance the overall appearance of the area and encourage the public to come
to the area and support the local businesses; and
WHEREAS, proceeding with the construction and installation of the Highway
111 Median Island Landscape Improvements at this point in time will help to
stimulate the local economy by providing local jobs and construction - related
expenditures; and
WHEREAS, when the economy improves, additional development along the
Highway 111 corridor will occur and provide funding to the Development Impact
Fee Fund to reimburse the La Quinta Redevelopment Agency for the advancement
of funds needed for this project; and
Resolution RA 2011 -019A
Highway 111 Median Island Landscape Improvements
Appropriate Funds & Financing Agreement
Adopted: June 14, 2011
Page 2
WHEREAS, it would be in the best interest of the public to construct and
install the Highway 111 Median Island Landscape Improvements.
NOW, THEREFORE, BE IT RESOLVED, by the La Quinta Redevelopment
Agency of the City of La Quinta, California, as follows:
SECTION 1. The above recitals are true and correct and are adopted as the findings
of the Agency Board.
SECTION 2. The Agency Board hereby appropriates Agency funding to be utilized
for the Highway 111 Median Island Landscape Improvements, and approves and
authorizes the Executive Director to execute a Financing Agreement between the
City of La Quinta and the La Quints Redevelopment Agency to facilitate the
Agency's advance of the necessary funds.
SECTION 3. Pursuant to Health and Safety Code Section 33445(a), the Agency
finds and determines that:
A. The construction and installation of the Highway 111 Median Island Landscape
Improvements is of benefit to the Project Area and to the immediate
neighborhoods in which the improvements are located.
B. No other reasonable means of financing the Highway 111 Median Island
Landscape Improvements are available to the community at this point in time.
C. The Highway 111 Median Island Landscape Improvements will assist in the
elimination of one or more blighting conditions inside the Project Area, and are
consistent with the Redevelopment Agency's implementation plan adopted
pursuant to Section 33490.
PASSED, APPROVED and ADOPTED at a special meeting of the La Quinta
Redevelopment Agency held on this 14th day of June 2011, by the following vote:
AYES: Agency Members Adolph, Evans, Franklin, Sniff, Chair Henderson
NOES: None
ABSENT: None
ABSTAIN: None
Resolution RA 2011-019A
Highway 111 Median Island Landscape Improvements
Appropriate Funds & Financing Agreement
Adopted: June 14, 2011
Page 3
TERRY HNPERSON, Chairperson
La Quint4 R¢¢development Agency
VERONICA J, MONTECINO, CMC, Secretary
La Quinta R evelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
KA HE NNE JENS Agency Counsel
La Quinta Redevelop Z
Agency