2012 07 17 SACITY AS SUCCESSOR ACIENCY
TO THE LAQUINTA REPEVELOPMENTACENCY
Agendas and staff reports are
available on the City's web page:
www.la-quinta.org
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico I La Quinta, California
Regular Meeting
TUESDAY, JULY 17, 2012 AT 4:00 P.M.
Beginning Resolution No. SA 2012-010
CALL TO ORDER
ROLL CALL
Successor Agency Members:
Evans, Franklin, Henderson, Osborne and Chairperson Adolph
CLOSED SESSION - NONE
PUBLIC COMMENT
At this time members of the public may address the City Council acting as the legislative
body for the City as Successor Agency to the La Quinta Redevelopment Agency 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
APPROVAL OF MINUTES OF JULY 3, 2012
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1 APPROVAL OF DEMAND REGISTER DATED JULY 17, 2012
U01
CITY AS SUCCESSOR AGENCY TO RDA 1 JULY 17, 2012
2. RECEIVE AND FILE TREASURER'S REPORT DATED MAY 31, 2012
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED MAY 31,
2012 AND INVESTEMENT SUMMARY REPORT FOR THE QUARTER ENDING
JUNE 30, 2012
BUSINESS SESSION - NONE
STUDY SESSION — NONE
ADJOURNMENT
The next regular meeting of the City as Successor Agency to the La Quinta Redevelopment
Agency will be held on August 7, 2012 commencing with closed session at 3:00 p.m. and
open session at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta,
CA 92253.
DECLARATION OF POSTING
1, Susan Maysels, Interim City Clerk of the City as Successor Agency to the La Quinta
Redevelopment Agency, do hereby declare that the foregoing agenda 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 111, on July 13, 2012.
DATED: July 12, 2012
4y_zl�� 4k�
SUSAN MAYSELS, lnter)fn City Clerk
City of La Quinta, California
Public Notices
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 City Council,
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 City Council during a City Council
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.
CITY AS SUCCESSOR AGENCY TO RDA 2 JULY 17, 2012
Any writings or documents provided to a majority of the City Council 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.
--_s
CITY AS SUCCESSOR AGENCY TO RDA 3 JULY 17, 2012
OF
CITY/RHA/FA MEETING DATE: July 17, 2012 AGENDA CATEGORY:
ITEM TITLE: Receive and File Treasurer's Report dated BUSINESS SESSION:
May 31, 2012 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Successor Agency to the Redevelopment Agency Board:
Receive and File.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
. "',% 1 ,
.,, 004
Tedf 4 4 a"
CITYSMEETING DATE: JUIV 17, 2012
ITEM TITLE: Approval of Demand Register Dated
July 17, 2012
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the Successor Agency of the La Quinta Redevelopment Agency:
Receive and File the Demand Register Dated
July 17, 2012 of which $34,359.69
Represents Successor Agency Expenditures as detailed below:
Vendor:
Account#:
Amount:
Purpose:
Rutan & Tucker
231-9001-702.32-01
$960.00
Retainer
Rutan & Tucker
231-9001-702.32-01
$774.00
SA -Habitat Humanity
Rutan & Tucker
231-9001-702.32-01
$72.00
SA -Foreclosure
Rutan & Tucker
232-9002-702.32-01
$480.00
Retainer
Rutan & Tucker
232-9002-702.32-01
$2.016.88
SA -Coral Mountain
Rutan & Tucker
232-9002-702.32-01
$70.20
SA -Wash ington St Apt
Rutan & Tucker
237-9001-702.32-01
$480.00
Retainer
Rutan & Tucker
237-9001-702.32-01
$16.612.01
SA-AB26 Implementation
Rutan & Tucker
238-9002-702.32-01
$960.00
Retainer
Rutan & Tucker
231-9001-702.32-01
$21.50
SA -Habitat Humanity
Rutan & Tucker
232-9002-702.32-01
$1,040.50
SA -Coral Mountain DDA
Rutan & Tucker
232-9002-702.32-01
$384.00
SA -Washington St Apt
005
Rutan & Tucker
237-9001-702,32-01
$3,472.35
SA-AB26 Implementation
Rutan & Tucker
231-9001-702.32-01
$960.00
Retainer
Rutan & Tucker
232-9002-702.32-01
$480.00
Retainer
Rutan & Tucker
237-9001-702.32-01
$480.00
Retainer
Rutan & Tucker
238-9002-702.32-01
$960.00
Retainer
Caha, Becky
237-9001-702.32-07
$1,106.25
LQ Housing Program
US Bank
301-9001-701.31-13
$1,530.00
Admin Fee FY12/13
US Bank
302-9002-701.31-13
$1,500.00
Admin Fee FY12/13
By adoption of Resolution No. 2012-002, the City of La Quinta has affirmatively elected to be
the Successor Agency of the La Quinta Redevelopment Agency. Pursuant to Health and
Safety Code Section 34177(a), the Successor Agency of the La Quinta Redevelopment
Agency shall continue to make payments required pursuant to an adopted enforceable
obligations payment schedule. The payments above are required pursuant to the
enforceable obligations payments schedule adopted by the La Quinta Redevelopment
Agency on January 17, 2012.
Pursuant to Health and Safety Code Seciton 34173(e), the liability of the SuccessorAgency
of the La Quinta Redevelopment Agency, when acting pursuant to the powers granted under
ABX126, are limited to the extent of the total sum of property tax revenues it receives
pursuant to part 1.85 of ABX126 (e.g., Health and Safety Code Sections 34170 — 374190)
and the value of assets transferred to it as Successor Agency for the dissolved La Quinta
Redevelopment Agency.
Respectfully submitted,
Alwm
�-�ohn M �Falcon�erFinan�ceDirec�tor�
Approved for
Executive Director
006
ced4f 4 sep QUM&
crry/RHA/FA MEETING DATE: July 17, 2012
ITEM TITLE: Receive and File Revenue and Expenditure
Reports dated May 31, 2012 and Investment Summary
Report for the Quarter Ending June 30, 2012
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:�
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the May 31, 2012 Statement of Revenue and Expenditures and
Investment Summary Report for the Quarter Ending June 30, 2012 for the
Successor Agency to the La Quinta Redevelopment Agency.
Respectfully submitted,
4m, 4'N"
John M. Falconer, Finance Director
001
Attachments: 1 .
2.
Approved for submission by:
Executive Director
Revenue and Expenditures Report, May 31, 2012
Investment Summary Report for the Quarter Ending June 30,
2012
008
PA
SUCCESSOR AGENCY TO THE
LA QUINTA REDEVELOPMENT AGENCY
REVENUE SUMMARY
ATTACHMENT 1
0710112011 - OW3112012
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
LOWIMODERATE TAX FUND:
Tax Incnament
Allocatedl Indef8st
Non Alocated Intenest
Miscellaneous mvenue
Non Allocated Interest
Hom Seles Pmeseds,
Sale of Land
Smver Sussicy Reimbursements
Retimbilitation Loan Repayment$
2nd Trust Dead Repayment
Williams Note Payment
Transfer In
TOTAL LOWIMOD TAX
DEBT SERVICE FUND:
Tax Increment
Alloagited Interest
Non Allocated Interest
Interest - County Loan
Interest Advancii, Pr=eds
Therell In
TOTAL DEBT SERVICE
WIPROVEMENTFUND
Pach,c] Cash Allocated Intemast
Non Allocated Interest
Dennabper Agreammant Funding
Sale of Land Prxaoe,,ft;
Rental Incorne
Litigation Pr,cealls
Transient In
TOTAL CAPITAL IMPROVEMENT
4.123,224,00
4,123.224�39
(0.39)
I00.0G0%
6(xLw
7,226.48
37,373,52
16,2(Xy6
0,00
1,274.05
(1.274.05)
0.000%
0 w
1.226,22
(1,U6,22)
O.OW%
OW
0,00
O,M
0.0w%
0,00
0�w
0,00
0 0(10%
O,W
am
O'N
O.ODO%
0,00
1.46T84
(1.467.6,1)
0 014%
O.W
000
O.W
O.ODO%
DOD
0.00
Dw
0.0w%
0.00
000
0.00
0000%
2,707,784,00
2.707,784 37
(0,37)
IM.000%
6,675.WB.00
6.M2,203,35
33.4U 65
99510%
16,505,087,W
16,505,087 35
(0.35)
100000%
3.00000
(13.12295)
16,12295
437430%
0 w
0,00
0.00
0.000%
0.00
O.W
000
D(XX%
000
0.00
O,W
0.(XX1%
8,487,612.1XI
8,762,1113 10
(274,571 10)
103230%
24,995,6N.W
25,25,1,147.50
(2!JB,"B.W)
101.030%
25,700,00
(8.28576)
M,985.78
�12,240%
IBSIX)bl)
8,213.20
10,58680
43,693%
0�w
0,00
o.(X,
0�0(10%
0,00
0,00
O.w
0.000%
O.W
0�00
0 OD
O.Ow%
0,00
0.00
O.W
0,000%
5,000,0W.00
000
5,000,000,00
0."%
5.N4=00
(72 591
5 044.572�58
0,0Q10%
2011 TAXABLE HOUSING BOND FUND: (249)
Pooled Cash Allocated Interest
000
0,00
aou
0,01)0%
Non Allocated Interest
5.ND,W
9,W7,62
(4,06T62)
181,3W%
Developer Agreement Funding
0,00
000
000
0 0D0%
Sale of Land Proceeds
0 w
0 w
0,00
01)(10%
Rental Income
000
0 w
0.00
0,000%
Litigation Praoeds
0 Olt
0,00
000
0.1300%
Transfers In
0 w
0�00
000
O.WO%
TOTAL 2011 TAXABLE HOUSING BOND
5'" w
9.06762
(406762)
181.350%
009
SUCCESSOR AGENCY TO THE
LA QUINTA REDEVELOPMENT AGEP
REVENUE SUMMARY
PROJECT AREA NO, 2:
07MI12011 - OSM112012
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
LOWIMODERATE TAX FUND:
Tax Inenument
Allocated Intanast
Non Allocated Intemst
Developer funding
2nd Trust Dead! Repayment
Sale of Land
Transfer In
TOTAL LOWYMOD TAX
2004 LOWINIODERATE BOND FUND:
Allocated Irdwest
Home Sale Pnoceeds
Non Alocifted Imenist
TransW In
TOTAL LOWIMOD BOND
DEBT SERVICE FUND:
Tax Incremem
Allocated Intexest
Non Allocated Interest
firdemst Adyanw ProceecJS
Tmnsfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT FUND:
Allowted Intemst
Non Allociflexi Intenst
Misc Revenue
Sale 0 land
Tnand.. In
TOTAL CAPITAL IMPROVEMENT
2,341,482.00
2.341,482,34
(0,34)
100 ODD%
60.800,00
23.98973
36.81027
39.460%
0,00
o.w
0�010
0000%
0�00
0.00
0,00
0.000%
am
8.7"�99
(8.7".99)
0.000%
0.00
0.00
0.00
0."%
0.00
0
7 dal 2A9 M
I �11 115
908-010%
A30%
0,w
ow
0,00
0,000%
0,00
0.w
0�00
0000,94
500.00
1,01727
(517.27)
203.�%
0�00
0,00
0.w
0."%
500.w
1 17
-27(517 271
203.450%
9,365,929 00
9,365,929.37
(0,37)
100.000%
2W 00
(15,788.12)
15,9118 12
4894.050%
0 DO
647 W
(8,17 38)
0�000%
000
ow
0�01)
0 014%
2,%0.00
2 000
low)
100."%
9,W8 789,00
9,353 W.63
15, 1� 37
99,840%
O.w
2,()08 27
(2,148 27)
o'o()o%
76,W2 DO
65,07681
11,725.19
M 7W%
0,w
0.00
0 OD
0000%
0 w
000
0,00
0,000%
1,6imt.wo 00
230.292 W
1,419,70&00
13.9(30%
1.726.802.00
297 377.W
1,429,424,92
17,220%
2011 TAXABLE NON -HOUSING BOND FUND: (41M
Footed CaSh Allocated Intemst
0,00
0�00
0.00
0,0D0%
Non Allocated Intemnst
0.00
35.01)
(35 W)
0.000%
DeveloperAgniement Funding
&DO
0.00
0.w
0.000%
Sale of Land! pmoeeds
0.00
0,14
0.00
0,000%
Rental Income
o,w
000
0.00
D,DDD%
Lillgator, Pmceeds
0,00
o.w
0�010
0 014%
Transfen; In
0.00
0�00
0,00
0 000%
TOTAL 2011 TAXA13LE NON -HOUSING BOND
0,00
�w
fm �00)
0 �Ow%
010
07101=11 .0513112012
SUCCESSOR AGENCY ADJUSTED REMAINING %
REVENUE SUMMARY BUDGET RECEWD BUDGET MCEIVED
PROJECT AREA NO. I Adl (237)
County of Rv,srside
2W.UO 00
0.00
2135,M0,00
0.000%
Pooled Cash Allocated Interest
0,W
x 09)
62,09
0,000%
Non Allocated Interest
0,00
0,W
OW
O'�%
Trends. In
o,W
0 00
0,00
0 ODD%
TOTAL PA I
286,U0 W
(62 N)
2W.602.09
�.M(%
PROJECT AREA NO. 2 Adl (230)
County of Rwamide
141.13100
0 w
141,13100
000%
Pooled Cash Allocated Interest
0 w
0 Im
0,00
0,000%
Nm Allocated Interest
000
(1487)
14�87
0�1)00%
Transfers In
0 oo
0,00
0,00
O,D00%
TOTAL PA 2
141,131 �W
(14S]r)
1,11,145S7
��040%
TOTAL SUCCESSOR AGENCY - ADMIN
r
427,671.00
(76.96)
427,747.96
4.020%
PROJECT AREA NO. I Program (231)
County of Rinmide
39,110,W
0.00
39,110.W
0.030%
Pooled Cash Allocated Interest
0 Im
1.656,55
(1,lm.55)
0.000%
Non Allocated Interest
0,00
0,00
000
0.000%
Transfers In
8,976,213,!�W
5,797,226.99
3,179,M7.01
U.�%
TOTAL PA 1
9.015,374,00
6,7S9,W&54
3,216,2�AS
64.32�
PROJECT AREA NO. 2 Program (232)
County of Riverside
KNO w
0 w
KOW,00
001)0%
Pooled Cash Allocated Interest
000
6520
(IM20)
0�"%
Non Allocated Interest
0 w
G W
0,00
0,000%
Transfers In
555,178 DO
56,28840
4%,889.60
10.l500%
TOTAL PA 2
639.M8 W
5B,353 60
580,914.40
9,130%
TOTAL SUCCESSOR AGENCY - PROGRAM
9.WU2 W
5,857,437 14
3,797,2N.M
%670%
TOTAL SUCCESSOR AGENCY
10.082.313 00
5,857,360 18
4,224,952.82
58.100%
Oil
P"
SUCCESSOR AGENCY TO THE ADJUSTED W3112012 REMAINING
LA QUINTA REDEVELOPMENT AGENCY BUDGET EXPENDITURES ENCUMBERED BUDGET
EXPENDITURE SUMMARY
PROJECTARRAM0.1-
LOWASODERATE TAX FUND
SERVICES
sam.w
275.166.51
ODO
247,MA9
BOND PRINCIPAL
1.�.�5,W
om
0.00
SONDINTEREST
3.850.670.W
3.�O,UTAQ
D.W
42.51
2nd TRUST DEED PROGRAM
M,M.W
81,Ixom
O.W
439."=
HABITAT FOR HUMANITY
3W,160.0
5,lW.W
om
295.WO 00
I-ANDACQUISITION
coo
O.W
O.W
0,00
LOW MOD HOUSING MOUECTS
0,00
0,00
O.W
o.W
FORECLOSURE
800,ODO.W
ODD
COD
soo,"m
REIMBURSEMENT TO GEN FUN[
�1.741.W
413.SW.W
0,00
M.19DS4
TRANSFERS OUT
6.171.188.
"S
0 W
1!31 21UI!Ml
TOTAL LOW11801) TAX
9:1;771�321
4
O�W
4 M!2
DEBT SERVICE FUND:
IMPROVEMENT D
SERVICES
429,212.0
428,524.30
0.00
687.70
BOND PRINCIPAL
3,113,575.00
3,113,575.00
0,00
om
BOND INTEREST
6,675,388,M
6,675.38616
0.00
1,24
PASS THROUGH PAYMENTS
9,984,7U�n
9,96,1,7nZ3
000
4.43
ERAF SHIFT
O.W
0,00
000
O,W
TRANSFERS OUT
13 976 264 w
579
Ono
8179,M.91
TOTAL DEBT SERVICE
ITAL
mlllw!nf�
FUN :
SERVICES
GEN FUNE
249 2011 TAXABLE HOUSING
TOTAL
1I.D00,00
O.W
D.00
O.W
012
Wll� � i !91! WA rl!�� 719
ADJUSTED 613141112 REMAINING
BUDGET EXPENDITURES ENCUMBERED BUDGET
SEWICES
325.3W.M
157.392.0
ow
167 997�36
BOND PRINCIPAL
%5.6%w
595,6m,w
0,w
0,01)
DONDINTEREST
I,a72,W2.(X)
1,672,5�4.54
0,w
(4Z54)
2NO TRUST DEEDS
0.m
0.w
0�w
000
LOW MOD HOUSING PROJECTS
3,OW.W
0,w
0�w
3,WO.00
FORECLOSURE ACQUISITION
4M,=,00
0�w
0�w
4W,WO.W
REIMBURSEMENT TO GEN FUN[
261.620,00
234,W.62
0,00
27,075.M
TRANSFERS OUT
12.101584.00
1 m,28&3S
'!
TOTAL LOIMMOD TAX
ad—ld..., 1�
M'
0
150: 7'5'7! B2 7'
2M LOINIMODERATE BOND FUND
HOUSING PROGRAMS ODD 0.m O.w 0.00
LAND 0.w 0.w 0.m 0�w
TRANSFERS OUT 3W7155 01 2 997 6M 56
TOTAL LOWINOD BOND j!W10tua 4"4 'm
DEBT SEWCE FUND:
SERVICES 2,16,0513,01) 241,542A0 O.w 4.525.20
BOND PRINCIPAL M=w 130,0w,M 0�00 250,0W.W
BOND INTEREST 6M,843,00 633.8,43,95 0�00 (0.95
PASS THROUGH PAYMENTS 8.215,M.W 8,019,032,65 0,00 IN,010.35
ERAF SHIFT 0.w a w a w a m
CAPITAL IMPROVEMENT FUND:
SERVICES 99,845.W 60,666.88 0.01 39.17912
CAPITAL 0.w 0.w 0�w 0 w
REIMBURSEMENT TO GEN FUN[ 91,592.00 63.074AI om 20.517,89
417 Nil RIDA 2 TAXABLE BOND FUND:(4171
SERVICES II.SD0.m 8.491.31 O.w 3,000.69
ECONOMIC DEVELOPMENT 1.5W.WO DO 191,519.% 000 1,30.,tIX).44
TRANSFERS OUT 2 422 946 DO 2!01.11.612 OW 2 420 286 18
TOTAL RDA NO. 2 TAXABLE BOND j!vuW.— .. M g um 3! ..........
013
VA
SUCCESSOR AGENCY ADJUSTED 06131112 RELMUNING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
M7 PROJSCTAREANO.I: SERVICES
99,W.00
49,=,Il
o.w
W,791.69
REIMBURSEMENT TO GEN FUNE
Iw,65Soo
578,7U.W
0�w
(392.128,01))
TRANSFERS OUT ---IWSWW
0.00
O.W
U&M,
TOTAL PA I - Adoft
W7.5fili
— ..—R,
238 PROJECTAREANI12; SERVICES
49,196.00
15.M.79
O.W
33,W92I
REIMBURSEMENT TO GEN FUN[
91.05,M
13$.M.W
O'N
(W.W5.00)
TRANSFERS OLT
0,00
om
000
O.W
TOTAL PA 2 - Admin
141131mu
------ —
TOTAL SUCCESSOR AGENCY - Ac!"n
r
mnq==��
231 PROJECTAREANO.1; SERVICES
36,40) 00
43.009.85
O.W
(7.409.86)
BOND PRINCIPAL
0 w
O,W
000
o.W
0 w
0�w
o'm
BONDINTEREST
REIMBURSEMENT TO GEN FUNC
0,00
2.710.W
om
O.W
2.710.00
TRANSFERS OUT
O.W
0 w
D.W
0,00
TOTAL PA I . Pw9mm
2M PROJECT AREA NO. 2; SERVICES
51.600,00
19,698.12
om
31,90t88
BOND PRINCIPAL
BOND INTEREST
0,00
0.00
0 w
0.1))
REIMBURSEMENT TO GEN FUN[
n,496=
0.100
0.00
32,490.00
TRANSFERS OUT
0,00
Bw --
000
0�,
us
TOTAL PA 2 - Pmoram
u w
,.,T
TOTAL SUCCESSOR AGENCY - P.9mm
39zg7w
TOTAL SUCCESSOR AGENCY 5WX71 �W
014
L,
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