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2012 04 17 HA0� c3� 5 OF 04� Housing Authority agendas and staff reports are available on the City's web site: www.la-quinta.org HOUSING AUTHORITY AGENDA CITY COUNCIL CHAMBERS 78-495 Calle Tampico I La Quinta, California 92253 Regular Meeting TUESDAY, APRIL 17, 2012 AT 4:00 P.M. Beginning Resolution No. HA 2012 - 003 CALL TO ORDER Roll Call: Board Members: Adolph, Franklin, Henderson, Osborne and Chairperson Evans VERBAL ANNOUNCEMENT - AB 23 [CITY CLERK] PUBLIC COMMENT At this time members of the public may address the Housing Authority on any matter not listed on the agenda. Please complete a "request to speak" form and limit your comments to three minutes. CONFIRMATION OF AGENDA APPROVAL OF MINUTES 1. APPROVAL OF MINUTES OF MARCH 20, 2012 CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1. APPROVAL OF DEMAND REGISTER DATED APRIL 17, 2012 2. RECEIVE AND FILE TREASURER'S REPORT DATED FEBRUARY 29, 2012 HOUSING AUTHORITY AGENDA 1 April 17, 2012 1# 001 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED FEBRUARY 29, 2012, AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING MARCH 31, 2012 4. ADOPTION OF A RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE CERTIFICATES OF ACCEPTANCE FOR DEEDS AND OTHER CONVEYANCES 5. APPROVAL OF AN APPROPRIATION TO FUND A LOAN TO CORAL MOUNTAIN PARTNERS, LP FOR THE CONSTRUCTION OF A 176-UNIT AFFORDABLE HOUSING DEVELOPMENT EAST OF THE INTERSECTION OF DUNE PALMS ROAD/HIGHWAY 111 BUSINESS SESSION - NONE REPORTS AND INFORMATIONAL ITEMS 1. HOUSING COMMISSION MINUTES OF DECEMBER 21, 2011 CHAIR AND BOARD MEMBERS' ITEMS - NONE PUBLIC HEARINGS - NONE ADJOURNMENT The next regular meeting of the Housing Authority will be held on May 15, 2012 at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Susan Maysels, Interim City Clerk of the City of La Quinta, do hereby declare that the foregoing agenda for the La Quinta Housing Authority meeting was posted on the outside entry to the Council Chamber at 78-495 Calle Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630 Highway 1 1 1, on April 13, 2012. DATED: April 13, 2012 SUSAN MAYSELS, Interim City Clerk City of La Quinta, California HOUSING AUTHORITY AGENDA 2 April 17, 2012 ,@ 002 Public Notice • The. La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7103, twenty-four (24) hours in advance of the meeting and accommodations will be made. • If special electronic equipment is needed to make presentations to the Housing Authority, arrangement should be made in advance by contacting the City Clerk's Office at 777-7103. A one (1) week notice is required. • If background material is to be presented to the Housing Authority during a meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting. • Any writings or documents provided to a majority of the Housing Authority regarding any item on this agenda will be made available for public inspection at the City Clerk counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. ` 003 HOUSING AUTHORITY AGENDA 3 April 17, 2012 HOUSING AUTHORITYIMEETING DATE: April 17, 2012 ITEM TITLE: Approval of Demand Register Dated April 17, 2012 RECOMMENDATION: It is recommended the Housing Authority Board: Receive and File the Demand Register Dated April 17, 2012 of which $388.75 represents Housing Authority Expenditures. AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: f STUDY SESSION: PUBLIC HEARING: PLEASE SEE CONSENT CALENDAR ITEM NUMBER 1 ON CITY COUNCIL AGENDA a . 004 cF'� OF 141e'� bW,DhMEETINGDATE: April 17,2012 ITEM TITLE: Receive and File Treasurer's Report dated February 29, 2012 RECOMMENDATION: It is recommended the La Quinta Housing Authority: Receive and file. AGENDA CATEGORY: BUSINESS SESSION: _ CONSENT CALENDAR: !i q A STUDY SESSION: PUBLIC HEARING: PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA If - 005 04 `ems 4 maw o s �FCFM OF'['Kg'�� MEETINGDATE: April 17,201'2 AGENDA CATEGORY: ITEM TITLE: Receive and Fite Revenue and Expenditure BUSINESS SESSION: Report for February 29, 2012 and Investment CONSENT CALENDAR: 3 qA Summary Report for the Quarter Ending March 31, 2012 STUDY SESSION: PUBLIC HEARING: RECOMMENDATION: Receive and File. FISCAL IMPLICATIONS: None. CHARTER CITY IMPLICATIONS: None. BACKGROUND AND OVERVIEW: Receive and File the Statement of Revenue and Expenditures for February 29, 2012 and Investment Summary Report for the Quarter ending March 31, 2012 for the La Quinta Housing Authority. Respectfully submitted, 6JAohnM. Falconer, Finance Director "to - 006 Approved for submission by: Mark Weiss, Interim Executive Director Attachments: 1. Revenue and Expenditures for February 29, 2012 2. Investment Summary Report dated March 31, 2012 ..M 1 007 2 A 1 1 Ali P7IVILIY 1 1 LA OUINTA HOUSING AUTHORITY REVENUE SUMMARY PROJECT AREA NO 1 HOUSING AUTHORITY Proceeds From Home Sale Allocated Interest Income Non Allocated Interest Income Rental Income 2nd Trust Deed Repayments Transferin TOTAL LO HOUSING AUTHORITY PA 1 07MI/2011 - 02/2W012 ADJUSTED REMAINING % BUDGET RECEIVED BUDGET RECEIVED 590.000.00 278,472.52 311,52748 47.200% 3.80000 2,320.01 1,47999 61,050% 0.00 107.23 (107.23) 0.000% 240,000,00 198.202.89 41,797.11 82,580% 50.000.00 50,000.00 0.00 100.000% 2,035,388.00 2,035,388,46 (0.46) 100.000% 2.919.1W.W 2,66q 491.11 354.696.89 87 850% PROJECT AREA NO 2 HOUSING AUTHORITY WSA Fed GOA Assistance Pymts 451,400.00 295.031.00 156.W9.00 65.WO% WSA Fed Gout Interest Rate Subsidy 46,80000 0.00 46,80000 0000% WSA Interest Income 0.00 0.00 0.00 0.000% WSA Non Allocated Interest Income 1,090.00 448.26 641.74 41.120% WSA Rental Income 163,300.00 120.681.00 42,619.00 73,WO% WSA Other Revenues 3,700,00 1,965.89 1,734.11 53,130% Transfer In 0.00 0.00 0,00 0,000% TOTAL LO HOUSING AUTHORITY PA 2 666,290.00 418,126.15 248,163.85 62 750% 008 31 LA OUINTA HOUSING AUTHORITY ADJUSTED OV29112 REMAINING EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET PROJECT AREA NO 1 HOUSING AUTHORITY SERVICES 18,112.00 1,698.33 16,41367 2ND TRUST DEED PROGRAM 375,000.00 0.00 375,00000 FORECLOSURE ACQUISITION 65,000.00 0.00 65OW.00 HOUSING DEVELOPMENT PROGRAM 35Q000.00 108,15071 241,849.29 TRANSFER OUT 0.W 000 TOTAL PROJECT AREA NO 1 HOUSING AUTHORITY PROJECT AREA NO 2 HOUSING AUTHORITY SERVICES 22,512.00 7463.83 15,048.17 WASH ST ARTS EXPENSES 362,710.00 219,255.51 143.45449 WSA PRINIPROVIDENT LOAN 29,91700 19,686.1T 10,250.83 WSA PRINIUSDA LOAN 12915.00 8,466W 4,448.64 WSA INTERESTIPROVIDENT 1 124,558.00 03,316.70 41,241,21 WSA INTERESTIUSDA LOAN 72,381.00 17,113.80 55,25320 WSA ADVANCE INTEREST EX 000 1771 (IN" TOTAL PROJECT AREA NO 2 HOUSING AUTHORITY 62J979 00 355,.AJGi i�TTw2S1,78 8.3 TOTAL HOUSING AUTHORITY_ aQ9 4 N 0 r N O 0 0 « 00 LL T E E Y O aU 3 �rZ °~o A N Dom Q'w a E c X m _yE c N Y3 N « y N > 0 �F c ,�N a� U L '5 E E ad 0 � C > C _ U7 m 'o E � T d N N 0 L L V V c c870 a J « N N O O EO N r N 0 U nm� d m dd cm ur 01 5 City / SA HA FA MEETING DATE: April 17, 2012 AGENDA CATEGORY: ITEM TITLE: Adoption of a Resolution Authorizing the BUSINESS SESSION: Executive Director to Execute Certificates of Acceptance for Deeds and Other Conveyances CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Adopt a Resolution of the La Quinta Housing Authority ("Housing Authority") authorizing the Executive Director to execute Certificates of Acceptance for deeds and other conveyances that have been approved for acquisition and/or acceptance by the Housing Authority, or that involve the acceptance of easements or right-of-ways. FISCAL IMPLICATIONS: 1►[Tn CHARTER CITY IMPLICATIONS: None. BACKGROUND AND OVERVIEW: The Housing Authority must authorize the acquisition of easements and/or real property. The. Housing Authority Agency must also authorize the recording of all easements, deeds and other conveyance instruments. Government Code §27281 states: "Deeds or grants conveying any interest in or easement upon real estate to a political corporation or governmental agency for public purposes shall not be accepted for recordation without the consent of the grantee evidenced by its certificate or resolution of acceptance attached to or printed on the deed or grant. " Government Code §27281 also states: A political corporation or governmental agency, by a general resolution, may authorize one or more officers or agents to accept and consent to such deeds or grants. " The proposed resolution grants the Executive Director, and in her/his absence, the Interim, Acting or Assistant Executive Director authority to execute certificates of acceptance for deeds and other conveyances that have been approved for acquisition and/or acceptance by the Housing Authority. The resolution also grants the authority for the acceptance of easements or right-of-ways. FINDINGS AND ALTERNATIVES: The alternatives available to the Housing Authority include: 1. Adopt a Resolution of the Housing Authority authorizing the Executive Director to execute Certificates of Acceptance for deeds and other conveyances that have been approved for acquisition and/or acceptance by the City Council, or that involve the acceptance of easements or right-of-ways; or 2. Do not adopt a Resolution authorizing the Executive Director to execute Certificates of Acceptance for deeds and other conveyances; or 3. Provide staff with alternative direction. Respectfully submitted, Susan Maysels, Interim Mky Clerk Approved for submission by: Mark Weiss, Interim Executive Director .n 012 RESOLUTION NO. SA 2012 - A RESOLUTION OF THE LA QUINTA HOUSING AUTHORITY AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE CERTIFICATES OF ACCEPTANCE FOR DEEDS AND OTHER CONVEYANCES WHEREAS, Government Code Section 27281 requires that deeds or grants conveying any interest in or easement upon real estate to a governmental agency for public purposes shall not be accepted for recordation without the consent of the governmental agency evidenced by its certificate or resolution of acceptance attached to or printed on the deed or grant; and WHEREAS Government Code Section 27281 also states that a governmental agency, by a general resolution, may authorize one or more officers or agents to accept and consent to such deeds or grants. NOW, THEREFORE, BE IT RESOLVED by the La Quinta Housing Authority as follows: Section 1. The Executive Director is authorized on behalf of the La Quinta Housing Authority, to execute acceptances and consents for all deeds, grants and other conveyances, transmitting any interest in real estate for public purposes where such acquisitions, acceptances and/or consents were approved by the La Quinta Housing Authority. The Executive Director is also authorized to execute acceptances and consents that involve the acceptance of easements or right-of- way for public improvements without the prior approval of the Successor Agency, as such approval is granted in this Resolution. Section 2. If the Executive Director is unavailable to execute the acceptance and consent, the Interim, Acting or Assistant Executive Director is so authorized. PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta Housing Authority held on this 17" day of April 2012 by the following vote: AYES: NOES: ABSENT: ABSTAIN: Resolution No. HA 2012- Executive Director Signature Authorization Certificates of Acceptance Adopted: April 17, 2012 Page 2 of 2 ATTEST: Susan Maysels, Interim Secretary La Quinta Housing Authority (AUTHORITY SEAL) APPROVED AS TO FORM: M. KATHERINE JENSON, Attorney La Quinta Housing Authority LINDA EVANS, Chairperson La Quinta Housing Authority 10 014 T'af 4 4 agwo CITY / SA HA IFA MEETING DATE: April 17, 2012 AGENDA CATEGORY: ITEM TITLE Approval of an Appropriation to Fund a BUSINESS SESSION: Loan to Coral Mountain Partners, L.P. for the Construction of a 176-Unit Affordable Housing CONSENT CALENDAR: Development East of the Intersection of Dune Palms STUDY SESSION: Road/Highway 111 PUBLIC HEARING: RECOMMENDATION: Approve an appropriation of $21,540,268 to fund a loan to Coral Mountain Partners, L.P., pursuant to a Disposition and Development Agreement, for the development of the 176-unit Coral Mountain Apartments affordable housing community, subject to the receipt of those funds from the Successor Agency. FISCAL IMPLICATIONS: The Disposition and Development Agreement ("DDA") with Coral Mountain Partners, L.P., provides for a loan of up to $29,000,000 of former La Quinta Redevelopment Agency ("LQRDA") housing funds, which are now held by the Successor Agency, to facilitate the development of 176 affordable multi -family units. The DDA also provides that the La Quinta Housing Authority ("Authority") as the "housing successor" to the former LQRDA will lease a 9.89 acre parcel to Coral Mountain Partners, L.P. for a minimum of 55 years, with the option for two 10-year extensions. At the conclusion of the ground lease, the real property and all of the improvements will revert to the Authority. A total of $7,459,732 was previously appropriated to the Coral Mountain Project. To fully fund the $29,000,000 loan, another $21,540,269 must be appropriated from Low/Mod funds on hand. Therefore, funds must be re -allocated from other projects as follows: to 015 Dune Palms Road Street Work For Previously Planned Adjacent Affordable Housing Project.-PA2 $ 1,704,573 Washington Street Apartments-PA2 $ 7,008,718 Low/Mod Available Fund Balance PA 1 $ 3,000,000 Low/Mod Available Fund Balance PA 2 $ 9,826,978 Total Prior Appropriation to other projects $21,540,269 It should be noted the above -listed funds for Washington Street Apartments consist only of the PA 2 low/mod funds on hand that were previously appropriated for the project. The Agency Board had also appropriated 2004 tax-exempt bond proceeds for the project. The staff's recommendation will be to use a combination of 2004 tax- exempt bond proceeds and the 2011 taxable bond proceeds to fund construction of Washington Street Apartments. The Washington Street Apartments project is currently on hold until the State makes a determination, or legislation is passed, allowing Successor Agencies/Housing Successors to retain the 2005 and 2011 bond proceeds. Because the proposed affordable housing project at Dune Palms/Westward Ho cannot be funded due to the dissolution of redevelopment, the accompanying Dune Palms Street Improvement project is no longer proceeding. On April 10, 2012, staff was notified that the Department of Finance VDOV) is reviewing certain items on the Successor Agency's Recognized Obligation Payment Schedule (BOPS), including the Coral Mountain DDA. The DOF's review is scheduled to be completed by April 20, 2012. Given this fact, staff plans to delay the transfer of funds from the Successor Agency to the Housing Authority until after the DOF has confirmed the DDA is an enforceable obligation. The appropriation by the Housing Authority will not be effective until it receives these funds BACKGROUND AND OVERVIEW: The LQRDA approved this DDA in January 2011 after years of negotiation. The DDA will facilitate the long-term ground lease of 9.89 acres of vacant property (located west of Costco), and the investment of up to $29,000,000 of Low- and Moderate - Income Housing Funds. The Successor Agency ("SA") currently has the housing funds available to finance this $29,000,000 investment; an appropriation is needed to formally dedicate these funds to this project. This investment will facilitate the development and operation of a 176-unit apartment home complex that will be affordable to very low-, low- and moderate -income family households. The DDA also facilitates the construction of a secondary access road to Costco, the "A" Street/Dune Palms Road signalized intersection, and the reconfiguration (to ensure safer access) of the Desert Sands Unified School District's bus yard. Entitlements are in place, and an to 016 application for 4% investment tax credits was submitted to the California Debt Limit Allocation Committee (CDLAC) on March 16, 2012; 4% tax credits are assured for this project and would provide $26,000,000 of tax credit equity and mortgage revenue bond financing. Construction will commence by August 2012. The Oversight Board of the Successor Agency to La Quinta Redevelopment Agency reviewed this item at its April 4, 2012 meeting. The Oversight Board adopted Resolution No. OB 2012-007 (Attachment 1), authorizing the Housing Authority to administer and implement the DDA, including, without limitation, the leasing of the property and the provision of financial assistance to Coral Mountain Partners, L.P.; and, determining that the Oversight Board will not direct the Successor Agency to terminate or renegotiate the DDA. Pursuant to ABx1 26, the DOF has three business days to review the actions of an oversight board. If the DOF requests a review of an oversight board action, it then has 10 days from the date of its request to approve the oversight board action or return it to the oversight board for reconsideration. Staff transmitted this action to the DOF immediately after the Oversight Board meeting on April 4, 2012 at 4:45 p.m.; therefore, the DOF had until April 9, 2012 to request a review. The DOF has not requested a review of the Oversight Board action, but, as explained above, the DOF has requested a review of the Coral Mountain DDA in connection with its. review of the BOPS. For this reason, the Successor Agency will not be transferring the subject funding to the Housing Authority until the DOF review has been completed. This item is on today's Successor Agency agenda, as the funds are currently held with the Successor Agency. Because these are housing funds, the Housing Authority must also approve the appropriation, but its appropriation is subject to its receipt of the funds. FINDINGS AND ALTERNATIVES: The alternatives available to the Housing Authority include: 1. Approve an appropriation of $21,540,269 to fund a loan to Coral Mountain Partners, L.P., pursuant to a Disposition and Development Agreement, for the development of the 176-unit Coral Mountain Apartments affordable housing community, subject to the receipt of those funds from the Successor Agency; or 2. Do not approve an appropriation of $21,540,269 to fund a loan to Coral Mountain Partners, L.P., pursuant to a Disposition and Development Agreement, for the development of the 176-unit Coral Mountain Apartments affordable housing community; or 3. Provide staff with alternative direction. Respectfully submitted, Debbie Powell Economic Development/Housing Manager Approved for submission by: Mark Weiss, Interim Executive Director Attachment: 1 . Oversight Board Resolution 2012-007 .. " � 018 ATTACHMENT RESOLUTION NO. OB 2012-007 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO LA QUINTA REDEVELOPMENT AGENCY MAKING CERTAIN ACKNOWLEDGMENTS AND APPROVALS WITH RESPECT TO THE CORAL MOUNTAIN PROPERTY AND DISPOSITION AND DEVELOPMENT AGREEMENT AND AUTHORIZING THE CONTINUED ADMINISTRATION AND IMPLEMENTATION OF THE SAME WHEREAS, the Oversight Board of the Successor Agency to La Quinta Redevelopment Agency ("Oversight Board") has been established to direct the City of La Quinta, in its capacity as "successor agency," to take certain actions to wind down the affairs of the former La Quinta Redevelopment Agency ("Agency") in accordance with the requirements of Assembly Bill 26, also known as chapter 5, Statutes 2011, First Extraordinary Session, which added Part 1.8 and Part 1.85 of Division 24 of the California Health and Safety Code ("ABx1 26"); and WHEREAS, the Agency and Coral Mountain Partners, L.P. (the "Developer"), entered into a Disposition and Development Agreement dated January 4, 2011 (the j "DDA"), pursuant to which the Agency agreed to lease to the Developer certain real property owned by the Agency and located in the City of La' Quinta (the "Property"), and to provide the Developer with certain financial assistance, and the Developer agreed to develop and operate on said real property an affordable housing rental project (the "Project'); and WHEREAS, on January 2, 2012, the City Council of the City of La Quinta ("City Council" or "City," as applicable) adopted City Council Resolution No. 2012- 002, affirmatively electing to be the "successor agency" to the former Agency; and WHEREAS, on January 17, 2012, the La Quinta Housing Authority ("Authority") adopted Housing Authority Resolution No. 2012-02, electing to be the "housing successor" to the former Agency; and WHEREAS, pursuant to Health and Safety Code section 34175(b), added by Part 1.85 of Division 24 of the California Health and Safety Code ("Part 1.85"), on February 1, 2012, the DDA and the Property were transferred to the control of the City, in its capacity as "successor agency" to the former Agency; and WHEREAS, pursuant to Health and Safety Code Section 34177(g), added by Part 1.85, on March 7, 2012, the City, in its capacity as the "successor agency" to the former Agency, (i) assigned all of its interests in the DDA to the Authority; 019 Resolution No. 03 2012-007 Approval of Coral Mountain DDA Adopted: April 4, 2012 Page 2 and GO quitclaimed all of its interests in the Property to the Authority; and NOW, THEREFORE, the Oversight Board of the Successor Agency to La Quinta Redevelopment Agency does hereby resolve as follows: SECTION 1. The above Recitals are true and correct. SECTION 2. The City of La Quinta is the "successor agency" to the former La Quinta Redevelopment Agency. SECTION 3. The La Quinta Housing Authority is the "housing successor" to the former La Quinta Redevelopment Agency. SECTION 4. The DDA and the Property are both "housing assets" of the former La Quinta Redevelopment Agency, as that term is used in Health and Safety Code Sections 34176(a) and 34177(g). SECTION 5. The Authority has the right and authority to administer and implement the DDA, including, without limitation, the leasing of the Property and the provision of financial assistance to the Developer pursuant to the terms thereof, and no further approvals or authorizations are required by the Oversight Board with respect to the same. SECTION 6. The Oversight Board has determined not to terminate or renegotiate the DDA pursuant to its authority under Health and Safety Code Section 34181(e). PASSED, APPROVED and ADOPTED at a regular meeting of the Oversight Board of the Successor Agency to the La Quinta Redevelopment Agency held this 4`n day of April, 2012 by the following vote, to wit: AYES: Board Members Ellis, Marshall, Maysels, McDaniel, Osborne and Chairperson Pena NOES: None ABSENT: Board Member Nelson ABSTAIN: None 14 020 Resolution No. OB 2012-007 Approval of Coral Mountain DDA Adopted: April 4, 2012 Page 3 ATTEST: Oversight Board N JOHN A, hairperson Oversight Board of the Successor Agency to La Quinta Redevelopment Agency 021 HA Reports & Informational Items: I MINUTES HOUSING COMMISSION MEETING A Special Meeting Held in the Study Session Room at La Quinta City Hall 78-495 Calle Tampico, La Quinta, CA December 21, 2011 This meeting of the Housing Commission was called to order at 6:03 p.m. by Chairperson Leidner. I. CALL TO ORDER A. Pledge of Allegiance B. Roll Call Present: Chairperson Leidner Vice Chair Dorsey Commissioner LaRocca Commissioner Hunter Absent: None Staff Present: Debbie Powell, Economic Development/Housing Manager Lori Lafond, Executive Assistant IL PUBLIC COMMENT: None III. CONFIRMATION OF AGENDA: Confirmed IV. CONSENT CALENDAR: 1. Approval of the Minutes for the Meeting on September 14, 2011 It was moved by Commissioners Dorsey/LaRocca to approve the minutes as recommended. Motion carried unanimously. V. BUSINESS ITEMS: 1. Consideration of a Resolution to Change the Time for Meetings of the La Quinta Housing Commission for the 2012 Calendar Year to 022 It was moved by Chairperson Leidner to not adopt Resolution No. 2011-001 as submitted. Commissioner LaRocca moved to retain current meeting schedule which would include quarterly meetings in March, June, September and December, 2012 as well as an as -needed basis as defined by staff. Motion carried unanimously. VI. STUDY SESSION: 1. Review Potential Topics for Calendar Year 2012 Staff presented staff report. Chairperson Leidner suggested talking about education programs for realtors regarding affordable housing qualifications. Commissioner LaRocca suggested inviting a representative from La Quinta Palms Realty to the next Housing Commission meeting to discuss programs. Chairperson Leidner suggested meeting with the representative first and then formulating a plan to educate other realtors at the following meeting. Chairperson Leidner asked staff if an update on affordable housing can be placed on agenda for next meeting. VII. STAFF UPDATES: 1. Update on La Quinta Housing Commission Vacancy Staff updated Commission on vacancy — two candidates — one of the applicants could not make the council meeting on December 20, 2011 so the Council deferred their decision January 17, 2012 City Council meeting allowing the second candidate, a chance to be interviewed. The Council has re -opened the position so if there are any more interested applicants, they will have a chance to apply. 2. Update on the La Quinta Redevelopment Agency and Housing Authority Staff reported on Redevelopment Agency regarding the decision from the California Supreme Court. No decision yet but possibly around the Christmas holiday. The Supreme Court indicated they would have a decision in place by January 15, 2012 but possibly by the end of this year. Housing Commission Minutes December 21, 2011 2 9 023 Staff met with City attorneys regarding the processes we must go through and the protection of assets if redevelopment goes away. The Agency's property, money, etc. will be transferred to a successor agency, which in our case is would be the City of La Quinta but eventually. the money would be transferred to the State and assets will be sold off. It is a huge process and the Agency has tried to protect most of the assets by transferring to the Housing Authority and the City, but there is a callback provision where the State may be able to go back and undo all transfers of property and assets. Staff will provide an update to the Commission when a decision has been reached by the Supreme Court. Vill. COMMISSIONER ITEMS: None IX. CORRESPONDENCE AND WRITTEN MATERIAL: None. X. ADJOURNMENT: There being no further business, it was moved by Commissioners Dorsey/LaRocca to adjourn this meeting of the Housing Commission. This meeting of the Housing Commission was adjourned on December 21, 2011, at 6:26 p.m. Motion carried unanimously. Submitted by Lori Lafond Executive Assistant Housing Commission Minutes December 21, 2011 30 024.