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2013 04 16 SATjht 4 Agendas and staff reports are now available on the City's web page: I www.la-guinto.org SUCCESSOR AGENCY To The La Quinta Redevelopment Agency AGENDA CITY HALL COUNCIL CHAMBERS 78-495 Calle Tampico, La Quinta REGULAR MEETING ON TUESDAY, APRIL 16, 2013 AT 4:00 P.M. CALL TO ORDER ROLL CALL: Agency Members: Evans, Franklin, Henderson, Osborne, Chairperson Adolph CLOSED SESSION - NONE PUBLIC COMMENT At this time, members of the public may address the Successor Agency on any matter not listed on the agenda. Please complete a "request to speak" form and limit your commen to three minutes. The Successor Agency values your comments; however in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by GC 54954.2(b). CONFIWATION OF AGENDA - NONE WRITTEN COMMUNICATIONS - NONE APPROVAL OF MINUTES 1 . MINUTES OF APRIL 2, 2013 SUCCESSOR AGENCY TO RDA AGENDA 1 APRIL 16, 2013 CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1 . DEMAND REGISTER DATED APRIL 16, 2013 2. TREASURER'S REPORT DATED FEBRUARY 28, 2013 3. REVENUE AND EXPENDITURE REPORT FOR FEBRUARY 28, 2013, AND INVESTMENT SUMMARY REPORT FOR QUARTER ENDING MARCH 31, 2013 DEPARTMENT REPORTS - NONE - 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 May 7, 2013 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, Agency Secretary of the City as Successor Agency to the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda was posted near the entrance to the Council Chambers at 78-495 Calle Tampico and on the bulletin boards at the La Quinta Cove Post Office at 51-321 Avenida Bermudas and at the Stater Brothers Supermarket at 78-630 Highway 111, on April 11, 2013. DATED: April 11, 2013 15� k� SUSAN MAYSELS, A ency Secretary Successor Agency to the La Quinta Redevelopment Agency 002 SUCCESSOR AGENCY TO RDA AGENDA 2 APRfL 16, 2013 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. 0 If special electronic equipment is needed to make presentations to the Successor Agency, arrangement should be made in advance by contacting the City Clerk's Office at 777-7103. A one (1) week notice is required. 0 If background material is to be presented to the Successor Agency 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 Successor Agency 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 Quints, California, 92253, during normal business hours. 0 SUCCESSOR AGENCY TO RDA AGENDA 3 APRIL 16, 2013 Taf 4 4 4"Irej CITY / KA� HA / FA MEETING DATE: April 16, 2013 ITEM TITLE: Demand Register Dated April 16, 2013 RECOMMENDED ACTION: AGENDA CATEGORY: BUSINESS SESSION: CONS ENT CALENDAR: A - STUDY SESSION: PUBLIC HEARING: It is recommended the Successor Agency of the La Quinta Redevelopment Agency receive and file the demand register dated April 16, 2013. There are no expenditures to report. EXECUTIVE SUMMARY: None. FISCAL IMPACT: None. BACKGROUND/ANALYSIS: 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. For the current reporting period, there are no expenditures to report. Pursuant to Health and Safety Code Section 34173(e), the liability of the Successor Agency of the La Quinta Redevelopment Agency, when acting pursuant to the powers granted under ABX1126, 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 — 34190) and the value of assets transferred to it as Successor Agency for the dissolved La Quinta Redevelopment Agency. 0 0 4 ALTERNATIVES: None. Respectfully submitted, d Robbeyn eird, Finance Director Awn 005 (00 OF AGENDA CATEGORY: COUNCILJMMA/HA MEETING DATE: April 16, 2013 BUSINESS SESSION: ITEM TITLE: Receive and File Transmittal of Treasurer's CONSENT CALENDAR: 2- Report as of February 28, 2013 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: It is recommended the Successor Agency to the La Quinta Redevelopment Agency Board: Receive and file. PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA 006 AGENDA CATEGORY: CITY/SA/HA/FA MEETING DATE: April 16, 2013 BUSINESS SESSION: ITEM TITLE: Receive and File Revenues and Expenditures Report dated February 28, 2013 and Investment Summary Report for the Quarter Ending March 31, 2013 RECOMMENDED ACTION: Receive and File. - EXECUTIVE SUMMARY: CONSENT CALENDAR: 5 STUDY SESSION: PUBLIC HEARING: Monthly and year-to-date revenues and expenditures of the Successor Agency to the La Quinta Redevelopment Agency dated February 28, 2013 and Investment Summary Report for the Quarter Ending March 31, 2013. FISCAL IMPACT: None. BACKGROUND/ANALYSIS: Receive and File Transmittal of the February 28, 2013 Statements of Revenues and Expenditures for the Successor Agency to the La Quinta Redevelopment Agency and Investment Summary Report for the Quarter Ending March 31, 2013. ALTERNATIVES: None. Respectfully submitted, Robbeyrf)Bird, Finance Director Attachments: 1. Revenues and Expenditures Report for February 28, 2013 2. Investment Summary Report for the Quarter Ending March 31,2013 Ae.. - 0 0 7 -Jw1-1-A1L,-rFmLWT-T- SUCCESSOR AGENCY REVENUE SUMMARY PROJECT AREA NO. I Admin (237) County of Mveralde Pooled Cash Allocated Interest Non Allocated Interest Transfers In TOTAL PA I PROJECT AREA NO. 2 Admin (2W) County of Riverside Pooled C;ash Nlocated Interest Non Allocated Interest Transfers In TOTAL PA 2 TOTAL SUCCESSOR AGENCY - ADMIN PROJECT AREA NO. I Project (231) County of Rivemlde Pooled Cash Allocated Interest Non Allocated Interest Transfers In TOTAL PA I PROJECT AREA NO. 2 Project (232) rounty, of Riverside Pooled Cash Niocated Interest Non Allocated Interest Transfers In TOTAL PA 2 TOTAL SUCCESSOR AGENCY - PROGRAM TOTAL SUCCESSOR AGENCY 07101112012 - 02MMill ADJUSTED REMAINING % BUDGET RECEIVED BUDGET RECEIVED 476,656.00 205.061.00 271,595.00 43.020% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.030% 15,400.00 0.00 15,400.00 0.000% 492,056.00 205.061.00 286,995.00 41.670% 323,939.00 0.00 323,939.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 19,500.00 0.00 19,500.1)) 0.000% 343,439.00 0.00 343,439.00 0.000% 835,495.00 2D5,GBI.00 630.434.00 24.540% 0.00 6,734,968.00 (6.734,968.00) 0.000% 0.00 13,215.18 (13,215.18) 0.000% 0.00 1,236.86 (1,236.86) 0.000% 192,876.00 0.00 192.876.00 0.000% 0.00 0.00 0.00 0.000% 0.00 8,798.55 (8,798.55) 0.000% 19,500.00 8,798.55 10,701.45 45.120% 212,376.00 17,597.10 194,778.90 8.290% 227,776.00 6,769,615.14 (6,561,a39.14) 2980.830% 1,063,271.00 6.9M.676.14 (5.931,405.14) 957.850% 008 SUCCESSOR AGENCY AD.IUSTED OM13 REMAINING EXPENDITURE SUMMARY BUDGET EWENDITURES ENCUMBERED, BUDGET PROJECT AREA NO. 1: PROJECT AREA NO. 2: PROJECT AREA NO. I.: PROJECTAREANO.2; SERVICES 251.495.00 ag,816.11 000 161,678,89 REIMSURSEVIENT TO GEN FUND �.Wom W6.M.00 OM 152.964�w TRANSFERS OUT . 0�2 0 1 o.W Goo TOTAL PA I - AdmIll­T10 395 00 395.79T-11 0.00 314. 2,89 SERVICES o.w OM OM 0M REIMBURSEMENT TO GEN FUND om 0M 0�00 o.w TRANSFERS OUT 0.02 2w 0,00 O.m TOTAL PA 2 - �n 0.0 0 0 6U o.W 0 w TOTAL SUCCESSOR AGENCY - ASWn 710,395 55— 395,7W,11 _0 m 314.-WS9 SERVICES 5.499,961,00 41,830,14 000 5,458.160,86 BOND PRINCIPAL 0.0 000 OM om BOND INTEREST o.m 0,00 O.OD DO REIMBURSEMENT TO GEN FUND D.00 O'N o.w coo TRANSFERS OUT 7' Ho 02 2 0 =7 776 00 TOTAL PA I - Progm. 5.12;!Z7 41.56M4 0 bl'o 5,W5SMA6 SERVICES 0.00 0.00 o.w 0.00 BONDPRINCIPX- SONDINTEREST om o.w am OM REIMBURSEMEWTO GEN FUND o,W OM OM om TRANSFERS OUT o.m 0.00 0,00 D.00 TOTAL PA Z - FMWIlM 0.00 om ------- cm-0 00 TOTAL SUCCESSOR AGENCY - Prog� 5.727.73TW 4100.14 & TOTAL SUCCESSOR AGENCY 437,552.25 6-00057975 *009 SUCCESSOR AGENCY TO THE 0711111r2012 - 02128M13 LA QUINTA REDEVELOPMENT AGENCY ADJUSTED REMAINING % REVENUE SUMMARY BUDGET RECEIVED BUDGET RECEIVED PROJECT AREA NO. 1: LOWIMODERATE TAX FUND: County of Riverside 6,227,990.00 0.00 6.227.990.00 0.000% Allocated Interest 0.00 1.90 (1.90) 0.000% Non Allocated Interest 0.00 1,609.66 (1,609.66) 0.000% Miscellaneous revenue 0.00 165.26 (165.26) 0.000% Non Allocated Interest 0.00 0.00 0.00 0.000% Transfer In 0.00 1,432.94 (1,432.94) 0.000% TOTAL LOWIMOD TAX 6,227,990.00 3,209.76 6,224,780.24 0.050% DEBT SERVICE FUND: County of Riverside 10,273,472.00 0.00 10,273,472.00 0.000% Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 0.00 260.76 (280.76) 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL DEBT SERVICE 10,273.472.00 250.76 10,273,211.24 0.000% CAPITAL IMPROVEMENT FUND Pooled Cash AJIocated I nterest 0.00 1.943.68 (1,943.68) 0.000% Non Allocated Interest 15,400.00 7.478.09 7,921.91 48.560% Developer Agreement Funding 0.00 0.00 0.00 0.000% Sale of Land Proceeds 0.00 0.00 0.00 0.000% Rental Incorne 0.00 0.00 0.00 0.000% Lifigartim Proceeds 0.00 0.00 0.00 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL CAPITAL IMPROVEMENT 15,400.00 9,421.77 5,978.23 61.180% 2011 TAXABLE HOUSING BOND FUND: (249) Pooled Cash Allocated Interest 0.00 0.00 0.00 0.000% Non Allocated Interest 10,000.00 16,795.42 (6,795.42) 167.950% DeveloperAgreement Funding 0.00 0.00 0.00 0.000% Sale of Land Proceeds 0.00 0.00 0.00 0.000% Rental Income 0.00 0.00 0.00 0.(XX)% Litigation Proceeds 0.00 0.00 0.00 0.000% Transfers In 0.00 0.00 0.00 0.000% TOTAL 2011 TAXABLE 14OUSING BOND 10,000m 16.795.42 (6.795.42) 167.950% SUCCESSOR AGENCY TO THE LA QUtNTA REDEVELOPMENT AGENCY EXPENDITURE SUMMARY PROJECT AREA NO. 1: ADJUSTED �013 REMAINING BUDGET EYIPENDITURES ENCUMBERED BUDGET LOWINIODERATE TAX FUND: SERVICES o.w 0�w 0,00 O.W BOND PRINCIPAL 2.071.65D.W 1.723.2M.W om ms.�.w BOND INTEREST 4.156.UO.W 2,1",0210 0.00 2.052.318.37 REIMBURSEMENT TO GEN FUND o.m 0,00 0.00 0.00 TRANSFERS OUT 4,71225222 4 6yll:1313 V 0.00 100,178.M TOTAL LOWIMCID TAX lo.W.ZQ. 0. 0.00 2,W0,SW.90 DERTSERVICEFUND: SERVICES 16.W.00 D.W o.w 16AW.W BOND PRINCIPAL 3,765,000,00 3.WS.05DD0 om BONDINTEREST 6,49l.a72.00 3�289.314.13 0.00 3,202.557,87 TRANSFERS OUT 0.00 0.00 0.00 0.00 10,273,472.W 6.597.�,13 o.w 3.676.107B7 CAPITAL IMPROVEMENT FUND: SEWCES 0.00 o.w Dw 0.00 REIMBURSEMENT TO GEN FUND 0.00 om am 0.00 TRANSFERS OUT 9,2N,072.20 0.0 9.lM,713.W TOTAL CAPITAL IMPROVEMENT 9,209,072.05 NICE D.W 9.1821.713.50 2011 TAXABLE HOUSING BOR11)(20H SERVICES 0.00 0.00 0.00 0.00 TRANSFERS OUT 25,514,502.22 2 -, 2 ' 2 j!WW2 TOTAL 2011 TAXABLE HOUSING SON 00 DIN 0101 R!'111, 24. Oil SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY REVENUE SUMMARY PROJECT AREA NO. 2: LOWIMODERATE TAX FUND: County of Riverside Allocated Interest Non Allocated Interest Transfer In TOTAL LOINIMOD TAX 2004 LOW/MODERATE BOND FUND: Allocated Interest Home Sale Proceeds Non Allocated Interest Transfer In TOTAL LOWIMOD BOND DEBT SERVICE FUND: County of Riverside Allocated Interest Non Allocated Interest Interest Advance Proceeds Transfer In TOTAL DEBT SERVICE CAPITAL IMPROVEMENT FUND: Allocated Interest Non Allocated Interest Misc Revenue Sale of land Transfers In TOTAL CAPITAL IMPROVEMENT 2011 TAXABLE NON -HOUSING BOND FUND: (417) Fooled Cash Allocated Interest Non Allocated Interest Developer Agreement Funding Sale of Land Proceeds Rental Incorne Litigation Proceeds Transfem In TOTAL 2011 TAXABLE NON -HOUSING BOND 071011=2 . 02=1211113 ADJUSTED REMAINING % BUDGET RECEIVED BUDGET RECEIVED 2,665,855.00 0.00 2,665,855.00 0.000% 0.00 10.59 (10.59) 0.000% 0.00 60.95 (60.95) 0.000% 0.00 705.78 (705.78) 0.000% 2,665,855.00 777�32 2,665,077.68 0.030% 0.00 0.00 0.00 0.000% 0�00 0.00 0.00 0,000% 0�00 2,16038 (2,160.38) 0.000% 0.00 0.00 0.00 0.000% 0.00 2,160.38 (2,160.38) 0.000% 941,90�00 0.00 941,W.00 0.000% 0.00 0.00 0�00 0.000% 0.00 1,269.69 (1.269.69) 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 941,W.00 1,269.69 940,676.31 0.130% 0.00 0.00 0.00 0,000% 19.500.00 8,798.55 10.701.45 45.120% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% O.Go 0.00 0.00 0.000% 19.5DO.00 8,798.55 10,701.45 45.120% 0.00 0.00 0.00 0.000% 0.00 391.00 (391.00) 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 0.00 0.00 0.000% 0.00 391.00 (391.00) 0.000% 012 SUCCESSMAGENCYTOTHE LA QUINTA RI!DEVELOPMENT AGENCY ADJUSTED �013 REhWkING BUDGET EN142NDITURES ENCUIIIIBERED BUDGET PROJECT AREA NO, 2: LOWIMODERATE TAX FUND: SERVICES 000 0.00 0.00 0.00 BOND PRINCIPAL 623.700.0 623,700.00 0.00 0.00 BONDINTEREST 2.N2.155.N 1.028.0" 13 000 1.014.030,87 REIMBURSEMENT TO GEN FUND o.m 0,130 o.w TRANSFERS OUT 13,Qg.7W,M om 100,17297 TOTAL UOVVMOO TAX 16.095.531, 50 R1:2110!N1:17 121 20H LOWNODERATE BOND FUND HOUSING PROGRAMS o.w 0,00 0.00 0.00 LAND O'N 0�00 0.00 O,W TRANSFERS OUT 2X)7&MW0 2N020 �20 TOTAL UOWNOD SOND 55 DEBT SERVICE FUND' SERVICES 0.00 D W o.w 0�00 BOND PRINCIPA- 175,NO.N 175,1100.00 0.00 000 BOND INTEREST 757.U&N 381,08688 0.00 370,5S9.12 TRANSFERS OUT 000 000 000 0,00 TOTAL utoT aaw� 9�.W.00 "oumm 0�013 —376.�9,12 CAPI[TAL IMPROVEMENT FUND: SERVICES 0,00 0.00 0,00 000 CAPITA- 0.00 0.00 0.00 000 REIMBURSEMEWTO GEN FUND 0,00 0.00 0.00 000 TRANEV'ERS OUT 91- No 20 '!!' 2 0 00 10701.45 TOTAL cAFrrAL IMPROMINIIENT 1� .2 8 7WIll ou 10.701.45 2011 RDA 2 TAXABLE BOND FUND4417) SERVICES 0,130 0.00 om o.w ECONOMIC DEVELOPMENT 763.649.00 753,6418.91 o.w 0.09 TRANSFERS OUT 239978600 o.w o.m 2,399,786.00 TOTAL RIDA NO. 2 TAXABLE SONEi 3jW435!00 70.6,18.91 U.uu 2.399,7W09 —,wrokvrnvrLwT—w— .Swv� m Uld ��Qo � Maq Ct 0 �9 ow dw w . I �k ,��oa 550� 000 > lid �SZ4-ozzzz 0 m 0 m m m m m 0 m 00 0 22222 .2 Is r3 zo NNNI--NN 08R NN RR—NNNN w . w . w . w . c6 c6 c6 6 6 c6 0 =i =i =i =i =i =i =i =i =i L > &I .2 0 0 MO 0 74 0 0 E E ME OC Cq 0 12 B 0 ig ia LOD f B -82.0 ap-g Mo. 's 02 a 0 E CM > m L) LD ry LD LD co -0.14