2012 06 05 SA Minutesl
CITY AS SUCCESSOR AGENCY
TO THE LA QUINTA REDEVELOPMENT AGENCY
MINUTES
JUNE 5, 2012
A regular meeting of the La Quinta City Council in its capacity as Successor
Agency to the dissolved La Quinta Redevelopment Agency ( "SA ") was called to
order at the hour of 9:28 p.m. by Chairperson Adolph.
PRESENT: SA Members Evans, Franklin
ABSENT: None
Henderson, Osborne, Chairperson Adolph
CLOSED SESSION - None
PUBLIC COMMENT - None
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF MINUTES OF MAY 15, 2012
MOTION — A motion was made by SA Members Evans /Henderson to approve the
minutes of May 15, 2012 as submitted. Motion passed unanimously.
CONSENT CALENDAR
1. APPROVAL OF DEMAND REGISTER DATED JUNE 5, 2012
2. ADOPTION OF FISCAL YEAR 2012/2013 PRELIMINARY BUDGET
3. RATIFICATION OF MUTUAL TERMINATION OF AGREEMENT WITH
ROSENOW SPEVACEK GROUP RELATING TO WASHINGTON STREET
APARTMENT REHABILITATION
MOTION — A motion was made by SA Members Franklin /Evans to approve the
Consent Calendar as recommended. Motion passed unanimously.
BUSINESS SESSION
1. CONSIDERATION OF A RESOLUTION APPROVING THE IMPLEMENTATION
OF THE WASHINGTON STREET APARTMENT REHABILITATION PROJECT,
APPROVING THE USE OF 2004 TAX - EXEMPT HOUSING BOND PROCEEDS
AND 2011 TAXABLE HOUSING BOND PROCEEDS TO FUND THE PROJECT,
CITY AS SUCCESSOR AGENCY TO RDA 1 JUNE 5. 2012
CONFIRMING THE STATUS OF THE, HOUSING BOND PROCEEDS AS
HOUSING ASSETS TRANSFERABLE :TO THE LA QUINTA HOUSING
AUTHORITY, AND AMENDING THE RECOGNIZED OBLIGATION PAYMENT
SCHEDULE TO REFLECT THE PROJECT AND PAYMENTS
Economic Development /Housing Manager Powell presented the staff report.
MOTION — A motion was made by SA Members Evans /Henderson to adopt
Resolution No. SA 2012 -007 entitled: A RESOLUTION OF THE CITY. OF LA
QUINTA ACTING AS THE SUCCESSOR AGENCY TO THE DISSOLVED LA QUINTA
REDEVELOPMENT AGENCY APPROVING THE IMPLEMENTATION OF THE
WASHINGTON STREET APARTMENT REHABILITATION PROJECT, APPROVING
THE USE OF 2004 TAX - EXEMPT HOUSING BOND PROCEEDS AND 2011
TAXABLE HOUSING BOND PROCEEDS TO FUND THE PROJECT, CONFIRMING
THE STATUS OF THE HOUSING BOND PROCEEDS AS HOUSING ASSETS
TRANSFERABLE TO THE LA QUINTA HOUSING AUTHORITY, AMENDING THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULE TO REFLECT THE PROJECT
AND PAYMENTS, AND APPROPRIATING $7,008,718 IN 2011 TAXABLE
HOUSING BOND PROCEEDS TO FUND THE PROJECT.
Motion passed unanimously.
STUDY SESSION — NONE
ADJOURNMENT
There being no further business, it was moved by SA Members Osborne /Evans to
adjourn at 9:31 p.m. Motion passed unanimously.
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Respectfully submitted,
Susan Maysels, Interim Secretary
Successor Agency to the dissolved'
La Quinta Redevelopment Agency
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CITY AS SUCCESSOR AGENCY TO RDA 2 JUNE 5, 2012
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