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CC Resolution 2014-024RESOLUTION NO. 2014 - 024 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, APPROVING THE FISCAL YEAR 2014/2015 THROUGH 2O18/2019 CAPITAL IMPROVEMENT PROGRAM WHEREAS, pursuant to Government Code Section 66002, the City of La Quinta ("City") is required to review and approve a Capital Improvement Program ("CIP"); and WHEREAS, the City is required to conduct a noticed public hearing for consideration and approval of the CIP; and WHEREAS, notice of the public hearing has been given pursuant to Government Code Section 65090, specifically, the required notice was published on May 21, 2014 in The Desert Sun; and WHEREAS, the CIP is a five-year planning instrument used by the City to identify capital improvement needs and to coordinate financing and timing of those needs in a manner that maximizes the return to the public; and WHEREAS, the CIP is a statement of the City's goals, objectives and priorities for a five-year plan and the financial commitments required to accomplish those objectives; and WHEREAS, the Fiscal Year 2014/2015 through 2018/2019 Program proposes approximately $25,129,035 in improvement projects and $193,031,916 of unfunded additional improvement projects over the five-year period, commencing on July 1, 2014 and ending June 30, 2019; and WHEREAS, the amount allocated from the CIP for first -year projects, called the "Capital Budget," proposes $14,244,766 in improvements, as shown in Exhibit A, which is attached hereto and made a part of this Resolution;,and WHEREAS, there is inadequate funding within the City,s ,General Fund or from other sources to completely and fully fund the improvements identified within the Capital Budget; and WHEREAS, it would be in the best interest of the public to completely fund all improvements identified within the Capital Budget. Resolution No. 2014- Capital Improvement Plan Adopted: June 3, 2014 Page 2 NOW THEREFORE, BE IT RESOLVED, by the La Quinta City Council, as follows: SECTION 1. The above recitations are true and correct. SECTION 2. The City Council hereby approves the Fiscal Year 2014/2015 through 2018/2019 Capital Improvement Program, approves the Capital Budget, and authorizes the inclusion of the Capital Budget into the Fiscal Year 2014/2015 operating budget, which appropriates funds for specific facilities, equipment and improvements. PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City Council held on this 3re day of June 2014, by the following vote: AYES: Council Members Evans, Franklin, Henderson, Osborne, Mayor Adolph NOES: None ABSENT: None ABSTAIN: None -kT�� DON ADOlIPH, M or City of La Quinta, California ATTEST: SUSAN MAYSELS, CIT CLERI City of La Quinta, California (City Seal) APPROVED A' TO FORM: M. KATHERINE JENSON, City City of La Quinta, California Resolution 2014-024 EXHIBIT A CITY OF LA QUINTA CAPITAL IMPROVEMENT PROGRAM REVENUE SUMMARY General 2002 Bond Quimby DIF Project Description Fund Proceeds Funds Transportation Measure A Other Total 2014/2016 FY 2014/2016 SUBTOTAL: 1,546,000 7,500,000 394,887 91,160 774,627 3,923,284 14,244,766