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2013 09 17 SASUCCESSOR AGENCY To The La Quinta Redevelopment Agency AGENDA CITY HALL COUNCIL CHAMBERS 78 -495 Calle Tampico, La Quinta, CA REGULAR MEETING ON TUESDAY, SEPTEMBER 17, 2013 CLOSED SESSION 3:00 P.M. 1 4:00 P.M. OPEN SESSION CALL TO ORDER ROLL CALL: Agency Members: Evans, Franklin, Henderson, Osborne, Chairperson Adolph 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 comments 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). CLOSED SESSION 1. CONFERENCE WITH LEGAL COUNSEL, EXISTING LITIGATION PURSUANT TO GOVERNMENT CODE SECTION 54956.9(a), CITY OF LA QUINTA, ET AL. v. MATOSANTOS, ET AL., SACRAMENTO COUNTY SUPERIOR COURT CASE NO. 34- 2013- 80001485 RECESS TO CLOSED SESSION RECONVENE AFTER THE ADJOURNMENT OF THE CITY COUNCIL MEETING SUCCESSOR AGENCY TO RDA AGENDA 1 SEPTEMBER 17, 2013 4 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 comments 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). CONFIRMATION OF AGENDA PRESENTATIONS — NONE WRITTEN COMMUNICATIONS — NONE APPROVAL OF MINUTES PAGE 1 . MINUTES OF AUGUST 6, 2013 4 CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. 1 . TREASURER'S REPORT DATED JUNE 30, 2013 6 2. REVENUE & EXPENDITURES REPORT DATED JUNE 30, 2013 8 3. RESOLUTION APPROVING THE SUCCESSOR AGENCY 16 ADMINISTRATIVE BUDGET FOR THE PERIOD OF JANUARY 2014 THROUGH JUNE 2014 [RESOLUTION SA 2013 -0071 4. RESOLUTION APPROVING A RECOGNIZED OBLIGATION PAYMENT 24 SCHEDULE OF THE FORMER LA QUINTA REDEVELOPMENT AGENCY FOR THE PERIOD OF JANUARY 2014 THROUGH JUNE 2014 [RESOLUTION SA 2013 -0081 5. DEMAND REGISTERS DATED SEPTEMBER 3, 2013 AND SEPTEMBER 42 17, 2013 DEPARTMENT REPORTS - NONE BUSINESS SESSION - NONE STUDY SESSION — NONE ADJOURNMENT SUCCESSOR AGENCY TO RDA AGENDA 2 SEPTEMBER 17, 2013 5 The next regular meeting of the City as Successor Agency to the La Quinta Redevelopment Agency will be held on October 1, 2013 commencing with closed session at 3:00 p.m. and open session at 4:00 p.m. at City Hall, 78 -495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, 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 1 1 1, on September 13, 2013 DATED: September 13, 2013 SUSAN MAYSELS, Agency Secretary Successor Agency to the La Quinta Redevelopment Agency Public Notices • The La Quinta City Hall 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 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. • 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 Quinta, California, 92253, during normal business hours. SUCCESSOR AGENCY TO RDA AGENDA 3 SEPTEMBER 17, 2013 6 SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY MINUTES TUESDAY, AUGUST 6, 2013 A regular meeting of the La Quinta City Council in their capacity as Successor Agency to the La Quinta Redevelopment Agency ( "SA ") was called to order at 8:32 pm by Chairperson Adolph. PRESENT: Agency Members Evans, Franklin, Henderson, Osborne, Chair Adolph ABSENT: None CLOSED SESSION - None PUBLIC COMMENT - None CONFIRMATION OF AGENDA-- Confirmed PRESENTATIONS - None WRITTEN COMMUNICATIONS - None APPROVAL OF MINUTES MOTION — A motion was made and seconded by Agency Members Henderson/ Evans to approve the minutes of July 16, 2013 as submitted. Motion passed unanimously. CONSENT CALENDAR 1. DEMAND REGISTER DATED AUGUST 6, 2013 MOTION — A motion was made and seconded by Agency Members Evans/ Henderson to approve the Consent Calendar as recommended. Motion passed unanimously. DEPARTMENT REPORTS - None BUSINESS SESSION - None STUDY SESSION - None ADJOURNMENT There being no further business, it was moved and seconded by Agency Members Franklin /Evans to adjourn at 8:33 p.m. Motion passed unanimously. Respectfully submitted, SUSAN MAYSELS, Agency Secretary Successor Agency to the dissolved La Quinta Redevelopment Agency CITY AS SUCCESSOR AGENCY TO RDA 1 AUGUST 6, 2013 7  è SA MEETING DATE: September 17, 2013 ITEM TITLE: TREASURER'S REPORT DATED JUNE 30, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 1 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. FISCAL IMPACT: None. BACKGROUND /ANALYSIS: Per City Investment Policy, these items are presented on a monthly basis reflecting the monthly Cash Balances, Investment Activities and the Portfolio Performance, which is presented in the City Council's Consent Item Staff Report. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager  ïð SA MEETING DATE: September 17, 2013 ITEM TITLE: REVENUE AND EXPENDITURE REPORTS DATED JUNE 30, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 2 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file. EXECUTIVE SUMMARY: • Year -to -date revenues and expenditures of the Successor Agency to the La Quinta Redevelopment Agency are reported monthly. • Revenues received were 95% and expenditures made were 55.6% of the budgeted amounts. FISCAL IMPACT: None. BACKGROUND /ANALYSIS: Revenue and expenditure reports are submitted to the Successor Agency Board monthly to review, receive, and file. Attached are the transmittals of the June 30, 2013 Statements of Revenues and Expenditures for the Successor Agency (Attachments 1 and 2). Actual revenues received and expenditures made were $20,146,166 or 95% and $39,144,461 or 55.6% of the budgeted amounts, respectively. The budgeted revenues are based on estimates listed on the Recognized Obligation Payment Schedule and are received in January and June of each year. The City received $6.9 million in January and $13.1 million in tax increment in June 2013. The expenditures represent the debt service interest and principal on the former Redevelopment Agency bonds in the amount of $21.2 million and the $17.9 million of housing funds transferred to the Housing Authority for the Coral Mountain project. The Coral Mountain project was funded from remaining tax increment revenue. is ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager Attachments: 1 . Revenues Reports for June 30, 2013 2. Expenditure Reports for June 30, 2013 Ida ïí ïì ïë ïê ïé ïè SFA MEETING DATE: September 17, 2013 ITEM TITLE: RESOLUTION APPROVING THE SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR THE PERIOD OF JANUARY 2014 THROUGH JUNE 2014 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 3 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Adopt a resolution approving the Successor Agency Administrative Budget for the period of January 2014 through June 2014. EXECUTIVE SUMMARY: • The La Quinta Successor Agency (SA) administers the former Redevelopment Agency's wind -down activities and the Oversight Board (OB). • ABx126 (Dissolution Act) provides for an administrative allowance to carry out these wind -down activities (3% of the property tax allocation listed on the Recognized Obligation Payment Schedule). • The Dissolution Act requires the SA to prepare an administrative budget every six months. • Once the budget is approved, it will be reviewed and approved by the OB. FISCAL IMPACT: For the period of January 2014 through June 2014, the property tax allocation totals $9,684,016. Three percent of this total is $290,520. However, this total is subject to change based on review and approval by the Department of Finance (DOF). The administrative budget for this time period is included as Attachment 1 . 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Í»°¬»³¾»® ïéô îðïí п¹» í ÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁ ÍËÍßÒ ÓßÇÍÛÔÍô Ý·¬§ Ý´»®µ Ý·¬§ ±º Ô¿ Ï«·²¬¿ ß½¬·²¹ ¿­ Í«½½»­­±® ß¹»²½§ ̱ ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ øßÙÛÒÝÇ ÍÛßÔ÷ ßÐÐÎÑÊÛÜ ßÍ ÌÑ ÚÑÎÓæ ÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁ Óò ÕßÌØÛÎ×ÒÛ ÖÛÒÍÑÒô Í«½½»­­±® ß¹»²½§ ݱ«²­»´ Ý·¬§ ±º Ô¿ Ï«·²¬¿ ß½¬·²¹ ¿­ Í«½½»­­±® ß¹»²½§ ̱ ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ îë  îê SA MEETING DATE: September 17, 2013 ITEM TITLE: RESOLUTION APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE OF THE FORMER LA QUINTA REDEVELOPMENT AGENCY FOR THE PERIOD OF JANUARY 2014 THROUGH JUNE 2014 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 4 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Adopt a resolution approving a Recognized Obligation Payment Schedule for the period of January 2014 through June 2014. EXECUTIVE SUMMARY: • The Successor Agency must submit a Recognized Obligation Payment Schedule (BOPS) every six months. • The attached BOPS (Attachment 1) identifies $28,971,018 of Enforceable Obligations that must be funded during the first 6 months of 2014; $18,966,482 from tax allocation bond proceeds and $9,974,536 from property tax increment revenue from the Redevelopment Property Tax Trust Fund (RPTTF). FISCAL IMPACT: The BOPS requests authorization to expend $18,966,482 from 2002, 2004 and 2011 bond proceeds, and an allocation of $9,974,536 from the RPTTF. The $9,974,536 of RPTTF funding includes $290,520 of administrative expenses (for the six month period). The remaining $9,684,016 is to pay bond interest and principal payments. BACKGROUND /ANALYSIS: Every six months, the Successor Agency and Oversight Board must approve a BOPS, which is then submitted to the Department of Finance (DOF), State Controller's Office, the County Administrative Officer, and the County Auditor- MA Controller. The BOPS identifies the obligations of the former Redevelopment Agency (RDA) that the Successor Agency must fund during the first six months of 2014. These obligations include tax allocation bond debt service payments, third party contracts, and administrative costs. The La Quinta Housing Authority is set to proceed with the substantial rehabilitation of Washington Street Apartments (WSA); this is being done to satisfy a contract obligation the RDA had with the US Department of Agriculture -Rural Development. This contract obligated the RDA, and now the Housing Authority, to substantially rehabilitate this property. The BOPS identifies $18,799,580 in funding for WSA. Staff is working with the Coachella Valley Housing Coalition (CVHC) to secure tax credit funds in the spring 2014 round to underwrite the remaining costs to substantially rehabilitate WSA. The BOPS must be submitted to the above - mentioned entities by October 1, 2013. The DOF then has 45 days to make its final determination regarding the enforceable obligations, the dollar amounts, and funding sources. The Successor Agency would then have five business days to request additional DOF review and an opportunity to meet and confer on disputed items. If the BOPS is submitted late, the City of La Quinta will be subject to a civil fine of $10,000 per day. ALTERNATIVES: None. Report prepared by: Robbeyn Bird, Finance Director Report approved for submission by: Frank J. Spevacek, City Manager Attachment: 1 . ROPS for January through June 2014 28 îç øîððôððð÷ ó ó ó 9,974,536 çôêèìôðïêîçðôëîðçôçéìôëíê 9,774,536 çôçéìôëíê 9,974,536 Ì·¬´» 18,996,482 ïèôççêôìèî 28,971,018 Ü¿¬» Six-Month Total $ $ $ $ Recognized Obligation Payment Schedule (ROPS 13-14B) - Summary Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Ú·´»¼ º±® ¬¸» Ö¿²«¿®§ ïô îðïì ¬¸®±«¹¸ Ö«²» íðô îðïì л®·±¼ Í·¹²¿¬«®» Ò¿³» Ô»­­ Ю·±® л®·±¼ ß¼¶«­¬³»²¬ øλ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ ݱ´«³² ßÞ÷ Ô»­­ Ю·±® л®·±¼ ß¼¶«­¬³»²¬ øλ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ ݱ´«³² Ë÷ ñ­ñ Current Period Requested Funding for Outstanding Debt or Obligation Enforceable Obligations Funded with RPTTF Funding (F+G): Adjusted Current Period RPTTF Requested Funding (L-M) Adjusted Current Period RPTTF Requested Funding (I-J) ¸»®»¾§ ½»®¬·º§ ¬¸¿¬ ¬¸» ¿¾±ª» ·­ ¿ ¬®«» ¿²¼ ¿½½«®¿¬» λ½±¹²·¦»¼ Ы®­«¿²¬ ¬± Í»½¬·±² íìïééø³÷ ±º ¬¸» Ø»¿´¬¸ ¿²¼ Í¿º»¬§ ½±¼»ô × Ñ¾´·¹¿¬·±² п§³»²¬ ͽ¸»¼«´» º±® ¬¸» ¿¾±ª» ²¿³»¼ ¿¹»²½§ò Current Period Enforceable Obligations (A+E): Û²º±®½»¿¾´» Ѿ´·¹¿¬·±²­ º«²¼»¼ ©·¬¸ ÎÐÌÌÚ øÛ÷æÛ²º±®½»¿¾´» Ѿ´·¹¿¬·±²­ º«²¼»¼ ©·¬¸ ÎÐÌÌÚ øÛ÷æ λ­»®ª» Þ¿´¿²½» Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ Ò±²óß¼³·²·­¬®¿¬·ª» ݱ­¬­ øÎÑÐÍ Ü»¬¿·´÷ Þ±²¼ Ю±½»»¼­ Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ ß¼³·²·­¬®¿¬·ª» ݱ­¬­ øÎÑÐÍ Ü»¬¿·´÷ La Quinta Ý»®¬·º·½¿¬·±² ±º Ѫ»®­·¹¸¬ Þ±¿®¼ ݸ¿·®³¿²æ Ѭ¸»® Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ 窻®­·¼» Name of Successor Agency: Sources (B+C+D): Name of County: × Ö Ô Ú Þ E A ÝÜ HKN ÙÓ Ð«®­«¿²¬ ¬± Ø»¿´¬¸ ¿²¼ Í¿º»¬§ ݱ¼» ­»½¬·±² íìïééø´÷ô λ¼»ª»´±°³»²¬ Ю±°»®¬§ Ì¿¨ Ì®«­¬ Ú«²¼ øÎÐÌÌÚ÷ ³¿§ ¾» ´·­¬»¼ ¿­ ¿ ­±«®½» ±º °¿§³»²¬ ±² ¬¸» ÎÑÐÍô ¾«¬ ±²´§ ¬± ¬¸» »¨¬»²¬ ²± ±¬¸»® º«²¼·²¹ ­±«®½» ·­ ¿ª¿·´¿¾´» ±® ©¸»² °¿§³»²¬ º®±³ °®±°»®¬§ ¬¿¨ ®»ª»²«»­ ·­ ®»¯«·®»¼ ¾§ ¿² Comments íð K -$ -$ 6,988,8347,371,140 43,513,653200,00042,931,34743,131,34713,072,08615,126,81341,076,620 Total $ J $ $ $ $ $ $ $ $ (465,297)(465,297)(465,297) ó îðëôðêïêéðôíëèíèìôéèçíèìôéèç ß¼³·² I $ $ $ RPTTF Recognized Obligation Payment Schedule (ROPS) 13-14B - Report of Fund Balances (100,382)(58,176) êôéíìôçêèêôêíëôíëð 99,618 îððôðððïîôêêèôìçéïîôèîêôîçï Ò±²óß¼³·² $ $ $ H îíôçéðîèôèéé 52,84752,84752,847 ײ¬»®»­¬ô Û¬½ò Ù®¿²¬­ô $ $ $ Other 벬ô G Fund Sources øλ°±®¬ ß³±«²¬­ ·² ɸ±´» ܱ´´¿®­÷ ÎÐÌÌÚ ¾¿´¿²½»­ ®»¬¿·²»¼ º±® ¾±²¼ --- $ $ $ ®»­»®ª»­ F Reserve Balance -$ -$ -$ λª·»© ¾¿´¿²½»­ Ü«» Ü·´·¹»²½» Ò± »²¬®§ ®»¯«·®»¼ »²º±®½»¿¾´» ®»¬¿·²»¼ º±® ±¾´·¹¿¬·±²­ ¿°°®±ª»¼ E Þ±²¼­ ×­­«»¼ ó ó íïôîçíôêêìïîôéçç 31,306,46331,306,463 ïîôèðð 31,319,263 ±² ±® ¿º¬»® ðïñðïñïï Bond Proceeds D $ $ $ Þ±²¼­ ×­­«»¼ êëôìíîïôçïëôéíí ±² ±® ¾»º±®» ïîôïçêôðïçéôïîç 12,137,71612,137,716 êôððð 10,227,983 ïîñíïñïð C $ $ $ Beginning Available Fund Balance (Actual 07/01/13) (C, D, E, G, ß¼³·² ¿²¼ ß¼³·² ÎÐÌÌÚ ¿³±«²¬­ ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ñ ¿²¼ Ì ·² Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ ³¿§ ·²½´«¼» ¬¸» ®»¬»²¬·±² ±º ®»­»®ª»­ Ò±¬» ¬¸¿¬ Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ Ò±¬» ¬¸¿¬ º±® ¬¸» ÎÐÌÌÚô ï õ î ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ô ¿²¼ Ï ·² ¬¸» ¬¸» Ò±²óß¼³·² ÎÐÌÌÚ ¿³±«²¬ ­¸±«´¼ ±²´§ ·²½´«¼» ¬¸» ®»¬»²¬·±² ±º Ò±¬» ¬¸¿¬ ¬¸» ²»¬ Ò±²ó Ò±¬» ¬¸¿¬ º±® ¬¸» ÎÐÌÌÚô í õ ì ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ò Expenditures for ROPS III Enforceable Obligations (Actual ­¸±«´¼ ¬·» ¬± ¬¸» ÎÑÐÍ ××× ¼·­¬®·¾«¬·±²­ º®±³ ¬¸» ݱ«²¬§ ß«¼·¬±®ó Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ ­¸±«´¼ ¬·» ¬± ¬¸» ÎÑÐÍ ïíóïìß Retention of Available Fund Balance (Estimate 12/31/13) Ending Estimated Available Fund Balance (7 + 8 - 9 -10) Ending Actual Available Fund Balance (1 + 2 - 3 - 4 - 5) Retention of Available Fund Balance (Actual 06/30/13) Beginning Available Fund Balance (Actual 01/01/13) Fund Balance Information by ROPS Period Expenditures for 13-14A Enforceable Obligations ®»­»®ª»­ º±® ¼»¾¬ ­»®ª·½» ¿°°®±ª»¼ ·² ÎÑÐÍ ××× ¼·­¬®·¾«¬·±²­ º®±³ ¬¸» ݱ«²¬§ ß«¼·¬±®óݱ²¬®±´´»® ROPS III RPTTF Prior Period Adjustment λ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ øÐÐß­÷ º±® ¼»¾¬ ­»®ª·½» ¿°°®±ª»¼ ·² ÎÑÐÍ ïíóïìß and I = 4 + 6, F = H4 + F6, and H = 5 + 6) ROPS 13-14A Estimate (07/01/13 - 12/31/13) Revenue/Income (Estimate 12/31/13) Revenue/Income (Actual 06/30/13) B ROPS III Actuals (01/01/13 - 6/30/13) ¿²¼ Í ·² ¬¸» λ°±®¬ ±º ÐÐß­ ¬¸» λ°±®¬ ±º ÐÐß­ò (Estimate 12/31/13) »²º±®½»¿¾´» ±¾´·¹¿¬·±²ò 06/30/13) ݱ²¬®±´´»® 1011 123456789 A ß³±«²¬­ ·²½´«¼»¼ ·² Ю·±® ÎÑÐÍ ©»®» º±® ¾±²¼ °®·²½·°¿´ ±²´§ò л® ¬¸» ÎÑÐÍ ·²­¬®«½¬·±²­ô ¿³±«²¬­ ²±© ·²½´«¼» °®·²½·°¿´ ¿²¼ ·²¬»®»­¬ ·² ݱ´«³² Ø ±º ¬¸» ÎÑÐÍ ¼»¬¿·´ íì Recognized Obligation Payment Schedule 13-14B - Notes Ö¿²«¿®§ ïô îðïì ¬¸®±«¹¸ Ö«²» íðô îðïì Notes/Comments °¿¹» Ô·²» èóïë Item # ÎÛÍÑÔËÌ×ÑÒ ÒÑò Íß îðïíó ß ÎÛÍÑÔËÌ×ÑÒ ÑÚ ÌØÛ ÍËÝÝÛÍÍÑÎ ßÙÛÒÝÇ ÌÑ ÌØÛ Ôß ÏË×ÒÌß ÎÛÜÛÊÛÔÑÐÓÛÒÌ ßÙÛÒÝÇ ßÜÑÐÌ×ÒÙ ÎÛÝÑÙÒ×ÆÛÜ ÑÞÔ×ÙßÌ×ÑÒ ÐßÇÓÛÒÌ ÍÝØÛÜËÔÛ ïíó ïìÞ ÚÑÎ ÌØÛ ÐÛÎ×ÑÜ ÑÚ ÖßÒËßÎÇ îðïì ÌØÎÑËÙØ ÖËÒÛ îðïì ÉØÛÎÛßÍ ô ¬¸» Ý·¬§ ݱ«²½·´ ±º ¬¸» Ý·¬§ ±º Ô¿ íÉÕÐÊÝÏûÕÊÅûÏÉÐÛÕÒÎÏÌÏûÕÊÅÎ ¿­ ¿°°´·½¿¾´»÷ °®»ª·±«­´§ ¿°°®±ª»¼ ¿²¼ ¿¼±°¬»¼ ø·÷ ¬¸» λ¼»ª»´±°³»²¬ д¿² º±® Ô¿ íÉÕÐÊÝîÌÏÔÙÛÊýÌÙÝðÏ ÏîÌÏÔÙÛÊýÌÙÝðÏ 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ÐßÍÍÛÜô ßÐÐÎÑÊÛÜô ßÒÜ ßÜÑÐÌÛÜ ¿¬ ¬¸» ³»»¬·²¹ ±º ¬¸» Í«½½»­­±® ß¹»²½§ ¬± ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ ¸»´¼ ¬¸·­ ï鬸 ±º Í»°¬»³¾»® îðïíô ¾§ ¬¸» º±´´±©·²¹ ª±¬»ô ¬± ©·¬æ ßÇÛÍæ ÒÑÛÍæ ßÞÍÛÒÌæ ßÞÍÌß×Òæ ÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁ ܱ² ß¼±´°¸ô ݸ¿·®°»®­±² Í«½½»­­±® ß¹»²½§ ¬± ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ ßÌÌÛÍÌæ ÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁ Í«­¿² Ó¿§­»´­ô Ý·¬§ Ý´»®µ Í«½½»­­±® ß¹»²½§ ¬± ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ øßÙÛÒÝÇ ÍÛßÔ÷ ßÐÐÎÑÊÛÜ ßÍ ÌÑ ÚÑÎÓæ Óò ÕßÌØÛÎ×ÒÛ ÖÛÒÍÑÒô Í«½½»­­±® ß¹»²½§ ݱ«²­»´ Í«½½»­­±® ß¹»²½§ ¬± ¬¸» Ô¿ Ï«·²¬¿ λ¼»ª»´±°³»²¬ ß¹»²½§ íé  íè íç øîððôððð÷ ó ó ó 9,974,536 çôêèìôðïêîçðôëîðçôçéìôëíê 9,774,536 çôçéìôëíê 9,974,536 Ì·¬´» 18,996,482 ïèôççêôìèî 28,971,018 Ü¿¬» Six-Month Total $ $ $ $ Recognized Obligation Payment Schedule (ROPS 13-14B) - Summary Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding Ú·´»¼ º±® ¬¸» Ö¿²«¿®§ ïô îðïì ¬¸®±«¹¸ Ö«²» íðô îðïì л®·±¼ Í·¹²¿¬«®» Ò¿³» Ô»­­ Ю·±® л®·±¼ ß¼¶«­¬³»²¬ øλ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ ݱ´«³² ßÞ÷ Ô»­­ Ю·±® л®·±¼ ß¼¶«­¬³»²¬ øλ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ ݱ´«³² Ë÷ ñ­ñ Current Period Requested Funding for Outstanding Debt or Obligation Enforceable Obligations Funded with RPTTF Funding (F+G): Adjusted Current Period RPTTF Requested Funding (L-M) Adjusted Current Period RPTTF Requested Funding (I-J) ¸»®»¾§ ½»®¬·º§ ¬¸¿¬ ¬¸» ¿¾±ª» ·­ ¿ ¬®«» ¿²¼ ¿½½«®¿¬» λ½±¹²·¦»¼ Ы®­«¿²¬ ¬± Í»½¬·±² íìïééø³÷ ±º ¬¸» Ø»¿´¬¸ ¿²¼ Í¿º»¬§ ½±¼»ô × Ñ¾´·¹¿¬·±² п§³»²¬ ͽ¸»¼«´» º±® ¬¸» ¿¾±ª» ²¿³»¼ ¿¹»²½§ò Current Period Enforceable Obligations (A+E): Û²º±®½»¿¾´» Ѿ´·¹¿¬·±²­ º«²¼»¼ ©·¬¸ ÎÐÌÌÚ øÛ÷æÛ²º±®½»¿¾´» Ѿ´·¹¿¬·±²­ º«²¼»¼ ©·¬¸ ÎÐÌÌÚ øÛ÷æ λ­»®ª» Þ¿´¿²½» Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ Ò±²óß¼³·²·­¬®¿¬·ª» ݱ­¬­ øÎÑÐÍ Ü»¬¿·´÷ Þ±²¼ Ю±½»»¼­ Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ ß¼³·²·­¬®¿¬·ª» ݱ­¬­ øÎÑÐÍ Ü»¬¿·´÷ La Quinta Ý»®¬·º·½¿¬·±² ±º Ѫ»®­·¹¸¬ Þ±¿®¼ ݸ¿·®³¿²æ Ѭ¸»® Ú«²¼·²¹ øÎÑÐÍ Ü»¬¿·´÷ 窻®­·¼» Name of Successor Agency: Sources (B+C+D): Name of County: × Ö Ô Ú Þ E A ÝÜ HKN ÙÓ Ð«®­«¿²¬ ¬± Ø»¿´¬¸ ¿²¼ Í¿º»¬§ ݱ¼» ­»½¬·±² íìïééø´÷ô λ¼»ª»´±°³»²¬ Ю±°»®¬§ Ì¿¨ Ì®«­¬ Ú«²¼ øÎÐÌÌÚ÷ ³¿§ ¾» ´·­¬»¼ ¿­ ¿ ­±«®½» ±º °¿§³»²¬ ±² ¬¸» ÎÑÐÍô ¾«¬ ±²´§ ¬± ¬¸» »¨¬»²¬ ²± ±¬¸»® º«²¼·²¹ ­±«®½» ·­ ¿ª¿·´¿¾´» ±® ©¸»² °¿§³»²¬ º®±³ °®±°»®¬§ ¬¿¨ ®»ª»²«»­ ·­ ®»¯«·®»¼ ¾§ ¿² Comments ìð K -$ -$ 6,988,8347,371,140 43,513,653200,00042,931,34743,131,34713,072,08615,126,81341,076,620 Total $ J $ $ $ $ $ $ $ $ (465,297)(465,297)(465,297) ó îðëôðêïêéðôíëèíèìôéèçíèìôéèç ß¼³·² I $ $ $ RPTTF Recognized Obligation Payment Schedule (ROPS) 13-14B - Report of Fund Balances (100,382)(58,176) êôéíìôçêèêôêíëôíëð 99,618 îððôðððïîôêêèôìçéïîôèîêôîçï Ò±²óß¼³·² $ $ $ H îíôçéðîèôèéé 52,84752,84752,847 ײ¬»®»­¬ô Û¬½ò Ù®¿²¬­ô $ $ $ Other 벬ô G Fund Sources øλ°±®¬ ß³±«²¬­ ·² ɸ±´» ܱ´´¿®­÷ ÎÐÌÌÚ ¾¿´¿²½»­ ®»¬¿·²»¼ º±® ¾±²¼ --- $ $ $ ®»­»®ª»­ F Reserve Balance -$ -$ -$ λª·»© ¾¿´¿²½»­ Ü«» Ü·´·¹»²½» Ò± »²¬®§ ®»¯«·®»¼ »²º±®½»¿¾´» ®»¬¿·²»¼ º±® ±¾´·¹¿¬·±²­ ¿°°®±ª»¼ E Þ±²¼­ ×­­«»¼ ó ó íïôîçíôêêìïîôéçç 31,306,46331,306,463 ïîôèðð 31,319,263 ±² ±® ¿º¬»® ðïñðïñïï Bond Proceeds D $ $ $ Þ±²¼­ ×­­«»¼ êëôìíîïôçïëôéíí ±² ±® ¾»º±®» ïîôïçêôðïçéôïîç 12,137,71612,137,716 êôððð 10,227,983 ïîñíïñïð C $ $ $ Beginning Available Fund Balance (Actual 07/01/13) (C, D, E, G, ß¼³·² ¿²¼ ß¼³·² ÎÐÌÌÚ ¿³±«²¬­ ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ñ ¿²¼ Ì ·² Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ ³¿§ ·²½´«¼» ¬¸» ®»¬»²¬·±² ±º ®»­»®ª»­ Ò±¬» ¬¸¿¬ Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ Ò±¬» ¬¸¿¬ º±® ¬¸» ÎÐÌÌÚô ï õ î ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ô ¿²¼ Ï ·² ¬¸» ¬¸» Ò±²óß¼³·² ÎÐÌÌÚ ¿³±«²¬ ­¸±«´¼ ±²´§ ·²½´«¼» ¬¸» ®»¬»²¬·±² ±º Ò±¬» ¬¸¿¬ ¬¸» ²»¬ Ò±²ó Ò±¬» ¬¸¿¬ º±® ¬¸» ÎÐÌÌÚô í õ ì ­¸±«´¼ ¬·» ¬± ½±´«³²­ Ò Expenditures for ROPS III Enforceable Obligations (Actual ­¸±«´¼ ¬·» ¬± ¬¸» ÎÑÐÍ ××× ¼·­¬®·¾«¬·±²­ º®±³ ¬¸» ݱ«²¬§ ß«¼·¬±®ó Ò±¬» ¬¸¿¬ ¬¸» ÎÐÌÌÚ ¿³±«²¬­ ­¸±«´¼ ¬·» ¬± ¬¸» ÎÑÐÍ ïíóïìß Retention of Available Fund Balance (Estimate 12/31/13) Ending Estimated Available Fund Balance (7 + 8 - 9 -10) Ending Actual Available Fund Balance (1 + 2 - 3 - 4 - 5) Retention of Available Fund Balance (Actual 06/30/13) Beginning Available Fund Balance (Actual 01/01/13) Fund Balance Information by ROPS Period Expenditures for 13-14A Enforceable Obligations ®»­»®ª»­ º±® ¼»¾¬ ­»®ª·½» ¿°°®±ª»¼ ·² ÎÑÐÍ ××× ¼·­¬®·¾«¬·±²­ º®±³ ¬¸» ݱ«²¬§ ß«¼·¬±®óݱ²¬®±´´»® ROPS III RPTTF Prior Period Adjustment λ°±®¬ ±º Ю·±® л®·±¼ ß¼¶«­¬³»²¬­ øÐÐß­÷ º±® ¼»¾¬ ­»®ª·½» ¿°°®±ª»¼ ·² ÎÑÐÍ ïíóïìß and I = 4 + 6, F = H4 + F6, and H = 5 + 6) ROPS 13-14A Estimate (07/01/13 - 12/31/13) Revenue/Income (Estimate 12/31/13) Revenue/Income (Actual 06/30/13) B ROPS III Actuals (01/01/13 - 6/30/13) ¿²¼ Í ·² ¬¸» λ°±®¬ ±º ÐÐß­ ¬¸» λ°±®¬ ±º ÐÐß­ò (Estimate 12/31/13) »²º±®½»¿¾´» ±¾´·¹¿¬·±²ò 06/30/13) ݱ²¬®±´´»® 1011 123456789 A ß³±«²¬­ ·²½´«¼»¼ ·² Ю·±® ÎÑÐÍ ©»®» º±® ¾±²¼ °®·²½·°¿´ ±²´§ò л® ¬¸» ÎÑÐÍ ·²­¬®«½¬·±²­ô ¿³±«²¬­ ²±© ·²½´«¼» °®·²½·°¿´ ¿²¼ ·²¬»®»­¬ ·² ݱ´«³² Ø ±º ¬¸» ÎÑÐÍ ¼»¬¿·´ ìì Recognized Obligation Payment Schedule 13-14B - Notes Ö¿²«¿®§ ïô îðïì ¬¸®±«¹¸ Ö«²» íðô îðïì Notes/Comments °¿¹» Ô·²» èóïë Item # SA MEETING DATE: September 17, 2013 ITEMTITLE: DEMAND REGISTER DATED SEPTEMBER 3, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 5 STUDY SESSION: PUBLIC HEARING: RECOMMENDED ACTION: Receive and file demand register dated September 3, 2013, of which $20,706.97 represents Successor Agency expenditures as detailed below: Vendor: Account No.: Amount: Purpose: Rutan & Tucker 237 - 9001 - 702.32 -01 $4,000.00 Becky Caha 237 - 9001 - 702.32 -07 $3,675.00 US Bank 237 - 9001 - 702.32 -07 $3,025.00 US Bank 237 - 9001 - 702.32 -07 $2,825.00 Rutan & Tucker 237 - 9001 - 702.32 -01 $2,471.97 US Bank 237 - 9001 - 702.32 -07 $1,650.00 US Bank 237 - 9001 - 702.32 -07 $1,530.00 US Bank 237 - 9001 - 702.32 -07 $1,530.00 BACKGROUND /ANALYSIS: Retainer PA1 Housing Program Series '98 PA2 Admin. Series '04 Admin. SA -AB26 Implementation Series '98 PA1 Admin. Series '01 Admin. Series '02 Admin. The City has elected to be the Successor Agency of the La Quinta Redevelopment Agency. The Successor Agency shall continue to make payments required pursuant to an adopted «7  ìê enforceable obligations payment schedule. The payments included on this Demand Register represent the prior month's expenditures. ALTERNATIVES: None. Report prepared by: Sandra Mancilla, Account Technician Report approved for submission by: Robbeyn Bird, Finance Director IN SA MEETING DATE: September 17, 2013 ITEMTITLE: DEMAND REGISTER DATED SEPTEMBER 17, 2013 AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 5 STUDY SESSION: PUBLICC HEARING: RECOMMENDED ACTION: Receive and file demand register dated September 17, 2013, of which $13,206,389.89 represents Successor Agency expenditures as detailed below: Vendor: Account No.: Amount: Purpose: US Bank Various $13,201,653.64 Debt Services Payment Becky Caha 237 - 9001 - 702.32 -07 $ 3,206.25 PA1 Housing Program US Bank 237 - 9001 - 702.32 -07 $ 1,530.00 Series '01 Admin. BACKGROUND /ANALYSIS: The City has elected to be the Successor Agency of the La Quinta Redevelopment Agency. The Successor Agency shall continue to make payments required pursuant to an adopted enforceable obligations payment schedule. The payments included on this Demand Register represent the prior month's expenditures. ALTERNATIVES: None. Report prepared by: Sandra Mancilla, Account Technician Report approved for submission by: Robbeyn Bird, Finance Director 48