2014 09 16 SAAgendas and staff reports are now
available on the City's web page:
www.la-quinta.org
SUCCESSOR AGENCY
To The La Quinta Redevelopment Agency
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
SPECIAL MEETING ON TUESDAY, SEPTEMBER 16, 2014 AT 4:00 P.M.
CALL TO ORDER
ROLL CALL:
Agency Members: Evans, Franklin, Henderson, Osborne, Chairperson Adolph
CLOSED SESSION - NONE
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
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
ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS — NONE
CONSENT CALENDAR PAGE
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1 . APPROVE SPECIAL MEETING MINUTES OF AUGUST 5, 2014 4
2. ADOPT RESOLUTION APPROVING A RECOGNIZED 6
OBLIGATION PAYMENT SCHEDULE OF THE FORMER LA
QUINTA REDEVELOPMENT AGENCY FOR THE PERIOD OF
JANUARY 11THROUGH JUNE 30, 2015
Special SUCCESSOR AGENCY TO RDA AGENDA 1
SEPTEMBER 16, 2014
PAGE
3. ADOPT RESOLUTION APPROVING THE SUCCESSOR AGENCY 22
ADMINISTRATIVE BUDGET FOR THE PERIOD OF JANUARY 1
THROUGH JUNE 30, 2015
BUSINESS SESSION - NONE
STUDY SESSION - NONE
REPORTS AND INFORMATIONAL ITEMS - NONE
DEPARTMENTAL REPORTS - NONE
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS - NONE
ADJOURNMENT
For information about the next special meeting of the City as Successor Agency to
the La Quinta Redevelopment Agency, please contact the City Clerk's Office at
760-777-7000.
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 September 12,
2014.
DATED: September 12, 2014
SUSAN MAYSELS, Agency Secretary
Successor Agency to the
La Quinta Redevelopment Agency
Special SUCCESSOR AGENCY TO RDA AGENDA 2
SEPTEMBER 16, 2014
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
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.
Special SUCCESSOR AGENCY TO RDA AGENDA 3
SEPTEMBER 16, 2014
SUCCESSOR AGENCY TO THE
LA QUINTA REDEVELOPMENT AGENCY
MINUTES
TUESDAY, AUGUST 5,2014
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 6:29 p.m. by
Chairperson Adolph.
PRESENT: Agency Members Evans, Franklin, Henderson, Osborne, Chair Adolph
ABSENT: None
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None
CLOSED SESSION — None
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None
CONFIRMATION OF AGENDA — Confirmed
PRESENTATIONS — None
WRITTEN COMMUNICATIONS — None
CONSENT CALENDAR
1 . APPROVE SPECIAL MEETING MINUTES OF JULY 15,2014
MOTION — A motion was made and seconded by Agency Members Evans/Franklin to
approve the Consent Calendar as recommended. Motion passed unanimously.
DEPARTMENT REPORTS — None
BUSINESS SESSION
1 APPROVE AMENDED LONG RANGE PROPERTY MANAGEMENT PLAN
GOVERNING THE DISPOSITION AND USE OF REAL PROPERTIES
ACQUIRED BY THE DISSOLVED LA QUINTA REDEVELOPMENT AGENCY
Assistant to City Manager, Chris Escobedo, presented the staff report, which is on file
with the City Clerk.
MOTION — A motion was made and seconded by Agency Members Evans/Franklin to
approve the amended Long Range Property Management Plan as recommended.
Motion passed unanimously.
STUDY SESSION — None
CITY AS SUCCESSOR AGENCY TO RDA 1 APRIL 1, 2014
ADJOURNMENT
There being no further business, it was moved and seconded by Agency Members
Evans/Franklin to adjourn at 6:33 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 2 APRIL 1, 2014
0
of
CITY / �A / HA / FA MEETING DATE: September 16, 2014
ITEM TITLE: ADOPT RESOLUTION APPROVING A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE OF
THE FORMER LA QUINTA REDEVELOPMENT
AGENCY FOR THE PERIOD OF JANUARY 1 THROUGH
JUNE 30, 2015
RECOMMENDED ACTION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution approving a Recognized Obligation Payment Schedule for the
period of January 1 through June 30, 2015.
EXECUTIVE SUMMARY:
A Recognized Obligation Payment Schedule (ROPS) identifies the obligations
of the former Redevelopment Agency (RDA) that must be paid.
The Successor Agency to the former RDA must submit a ROPS to the
Department of Finance, State Controller's Office, the County Administrative
Officer, and the County Auditor -Controller every six months.
The attached ROPS (Attachment 1) identifies $40,374,437 of Enforceable
Obligations that must be funded during the second half of Fiscal Year 2014-
2015.
FISCAL IMPACT:
The Successor Agency requests authorization to expend $25,781,482 from bond
proceeds, and an allocation of $14,592,955 of property tax revenue (RPTTF). The
$14,592,955 of RPTTF funding includes $425,038 of administrative expenses (for
the six-month period) and $602,644 to repay the City General Fund loan. The
remaining $13,565,273 is to pay bond interest and principal payments.
BACKGROUND/ANALYSIS:
The ROPS identifies the obligations of the former RDA that the Successor Agency
must fund during the second six months of FY 2014-2015. These obligations
include tax allocation bond debt service payments, third party contracts,
administrative costs and repayment of the City General Fund loan.
The ROPS must be submitted to the above -mentioned entities by October 3, 2014.
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 ROPS is submitted late, the City will be subject to a civil fine of $10,000 per
day.
ALTERNATIVES:
As this is a requirement of the DOF, staff does not recommend an alternative.
Report prepared by: Rita Conrad, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachment: 1 . ROPS 14-1 5B for January 1 through June 30, 2015
RESOLUTION NO. SA 2014-
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE
LA QUINTA REDEVELOPMENT AGENCY ADOPTING
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 14-
15B FOR THE PERIOD OF JANUARY 1, 2015 THROUGH
JUNE 30, 2015
WHEREAS, the City Council of the City of La Quinta ("City Council" or "City,"
as applicable) previously approved and adopted (i) the Redevelopment Plan for La
Quinta Project Area No. 1 ("Project Area No. I " or "Project Area No. 1 Redevelopment
Plan," as applicable); and (ii) the Redevelopment Plan for La Quinta Redevelopment
Project Area No. 2 ("Project Area No. 2" or "Project Area No. 2 Redevelopment Plan,"
as applicable);
WHEREAS, the former La Quinta Redevelopment Agency ("Agency") was
engaged in activities to execute and implement the Project Area No. I
Redevelopment Plan and the Project Area No. 2 Redevelopment Plan (collectively,
the "Redevelopment Plans") pursuant to the provisions of the California Community
Redevelopment Law (Health and Safety Code § 33000, et seq.) ("CRL"); and
WHEREAS, as part of the 2011-12 State budget bill, the California
Legislature enacted and the Governor signed, Assembly Bill 26 ("ABxl 26")
requiring that each redevelopment agency be dissolved and Assembly Bill 27
("ABxl 27") that would have allowed redevelopment agencies to remain in
existence if certain remittance payments were made; and
WHEREAS, an action challenging the constitutionality of ABx1 26 and ABx1
27 was filed in the California Supreme Court; and
WHEREAS, on December 29, 2011, the Court upheld ABx1 26 and struck
down ABx1 27 as unconstitutional; and
WHEREAS, on January 2, 2012, the City Council adopted City Council
Resolution No. 2012-002, affirmatively electing to be the "successor agency" to
the Agency; and
WHEREAS, on June 27, 2012, the California Legislature enacted, and the
Governor signed, Assembly Bill 1484 ("AB 1484"), which, among other things,
made certain revisions to certain of the statutes added by ABx1 26; and
WHEREAS, Health and Safety Code Section 34177 requires successor
agencies to prepare and adopt, on a semi-annual basis, a "Recognized Obligation
Resolution No. SA 2014-
Adoption of Recognized Obligation Payment Schedule
Adopted: September 16, 2014
Page 2 of 3
Payment Schedule" ("ROPS") that lists all obligations of the former redevelopment
agency that are enforceable within the meaning of subdivision (d) of Section
3417 1 ; and
WHEREAS, Successor Agency to the La Quinta Redevelopment Agency
("Successor Agency") staff have prepared ROPS 14-1 5B for the period of January
1, 2015 through June 30, 2015
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW THEREFORE, BE IT RESOLVED, by the Successor Agency to the La
Quinta Redevelopment Agency, as follows:
SECTION 1. Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
SECTION 2. Approval of ROPS 14-1 5B. In order to enable the Successor Agency
to strictly comply with ABx1 26, and based on the Recitals set forth above, the
Successor Agency hereby approves ROPS 14-1 5B attached hereto as Exhibit A as
the Recognized Obligation Payment Schedule for the period of January 1, 2015
through June 30, 2015. Pursuant to Health & Safety Section 341 73(e), the
Successor Agency's liability, including, but not limited to, its liability for the
obligations on the attached schedule, is limited to the total sum of property tax
revenues it receives pursuant to Part 1.85 of AB x1 26.
SECTION 3. Implementation. The Successor Agency hereby authorizes and directs
the Executive Director to submit ROPS 14-1 5B to the Oversight Board of the City
as Successor Agency to the La Quinta Redevelopment Agency (the "Oversight
Board") and, after approval by the Oversight Board, to submit a copy of the
approved ROPS 14-15B to the Department of Finance, State Controller, County
Administrative Officer, and County Auditor -Controller.
SECTION 4. Severability. If any provision of this Resolution or the application
thereof to any person or circumstance is held invalid, such invalidity shall not affect
other provisions or applications of this Resolution which can be given effect
without the invalid provision or application, and to this end the provisions of this
Resolution are severable. The Successor Agency hereby declares that it would
have adopted this Resolution irrespective of the invalidity of any particular portion
thereof.
SECTION 5. The Successor Agency Secretary shall certify to the adoption of this
Resolution.
Resolution No. SA 2014-
Adoption of Recognized Obligation Payment Schedule
Adopted: September 16, 2014
Page 3 of 3
PASSED, APPROVED, AND ADOPTED at the meeting of the Successor
Agency to the La Quinta Redevelopment Agency held this 16th of September
2014, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
DON ADOLPH, Chairperson
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment
Agency
ATTEST:
SUSAN MAYSELS, Secretary
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
WILLIAM H. IHRKE, Successor Agency Counsel
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment Agency
ATTACHMENT 1
Recognized Obligation Payment Schedule (ROPS 14-1513) - Summary
Filed for the January 1, 2015 through June 30, 2015 Period
Name of Successor Agency: La Quinta
Name of County: Riverside
Current Period Requested Funding for Outstanding Debt or Obligation
Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding
A Sources (B+C+D):
B Bond Proceeds Funding (ROPS Detail)
C Reserve Balance Funding (ROPS Detail)
D Other Funding (ROPS Detail)
E Enforceable Obligations Funded with RPTTF Funding (F+G):
F Non -Administrative Costs (ROPS Detail)
G Administrative Costs (ROPS Detail)
H Current Period Enforceable Obligations (A+E):
Six -Month Total
$ 25,781,482
25,781,482
$ 14,592,955
14,167,917
425,038
$ 40,374,437
Successor Agency Self -Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
I Enforceable Obligations funded with RPTTF (E): 14,592,955
J Less Prior Period Adjustment (Report of Prior Period Adjustments Column S) (3,015,467)
K Adjusted Current Period RPTTF Requested Funding (W) $ 11,577,488
County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding
L Enforceable Obligations funded with RPTTF (E): 14,592,955
M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AA) -
N Adjusted Current Period RPTTF Requested Funding (L-M) 14,592,955
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (m) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named agency. /s/
Name
Signature
Title
Date
Recognized Obligation Payment Schedule (ROPS 14-15131'
January 1, 2015 through June 30, 2015
(Report Amounts in Whole Dollars)
A
B
C
D
E
F
G
H
Contract/Agreement
Contract/Agreement
Item #
Project Name / Debt Obligation
Obligation Type
Execution Date
Termination Date
Payee
Description/Project Scope
Project Area
2
1998 Tax Allocation Bonds - Tax
Bonds Issued On or
6/20/2005
9/1/2033
US Bank
Bonds to fund prolects
1 and 2
3
2001 Tax Allocation Bonds - Tax
Bonds Issued On or
6/23/2005
9/1/2031
US Bank
Bonds to fund projects
1
Exempt
Before 12/31/10
4
2002 Tax Allocation Bonds - Tax
Bonds Issued On or
6/24/2005
9/1/2037
US Bank
Bonds to fund projects
1
Exempt
Before 12/31/10
5
2003 Tax Allocation Bonds -
Bonds Issued On or
6/25/2005
9/1/2032
US Bank
Bonds to fund projects
1
Taxable
Before 12/31/10
6
2004 Tax Allocation Bonds - Tax
Bonds Issued On or
6/26/2005
9/1/2034
US Bank
Bonds to fund projects
1 and 2
Exempt
Before 12/31/10
7
2011 Tax Allocation Bonds - Taxable
Bonds Issued After
7/3/2005
9/1/2036
US Bank
Bonds to fund projects
1 and 2
12/31/10
8
2011 Tax Allocation Bonds - Taxable
Bonds Issued After
7/3/2005
9/1/2039
US Bank
Bonds to fund projects
1 and 2
12/31/10
9
Annual Continuing Disclosure
Fees
1/17/2012
9/1/2039
Willdan Financial Services
Preparation of annual continuing
1 and 2
Statements
disclosure reports per Federal
regulations
10
Bond Holder Fees
Fees
6/16/2005
9/1/2039
US Bank
Fees for holding administration and
1 and 2
1
distribution of bond proceeds
11
SilverRock Infrastructure Design
Professional
8/16/2006
12/31/2014
RBF Consulting
Infrastructure design and engineering
1
Services
to support development of SilverRock
12
Construction of Washington Street
OPA/DDA/Constructi
10/1/2008
11/30/2032
La Quinta Housing Authority
Written commitment to US Department
2
Apartments Site Improvements &
on
of Agriculture -Rural Development to
Rehabilitation Project
rehabilitate & construct improvements
to Washington Street Apartments
13
Construction of Washington Street
Professional
7/3/2011
7/31/2015
Altum Group
Engineering for Washington Street
2
Apartments Site Improvements &
Services
Apartments Site Improvements &
Rehabilitation Project
Rehabilitation Project
14
Construction of Washington Street
Property
7/3/2011
7/31/2015
RGA Landscape
Landscaping for Washington Street
2
Apartments Site Improvements &
Maintenance
Apartments Site Improvements &
Rehabilitation Project
Rehabilitation Project
15
onstruction of Washington Street
Professional
7/3/2011
7/31/2015
Tall Man Group
Project & Construction Management for
2
Apartments Site Improvements &
Services
Washington Street Apartments Site
�C
Rehabilitation Project
Improvements & Rehabilitation Project
16
Construction of Washington Street
Professional
8/7/2011
7/31/2015
Studio E Architects
Architecture Services for Washington
2
Apartments Site Improvements &
Services
Street Apartments Site Improvements
Rehabilitation Project
& Rehabilitation Project
17
Washington Street Apartments
Project Management
1/1/2014
9/1/2032
City of La Quinta
Project Management Costs - Staff
2
Rehabilitation Project
Costs
Time, Non Personnel to administer
rehab of 72 affordable units and
addition of 24 senior units
181
Washington Street Apartments
Project Management
7/1/2012
7/1/2015
Rutan & Tucker
Project Management Costs - Legal
2
Rehabilitation Project
Costs
Recognized Obligation Payment Schedule (ROPS 14-15131'
January 1, 2015 through June 30, 2015
(Report Amounts in Whole Dollars)
A
B
C
D
E
F
G
H
Contract/Agreement
Contract/Agreement
Item#
I Project Name/ Debt Obligation
Obligation Type
Execution Date
Termination Date
Payee
Description/Project Scope_
Project Area
19
Coral Mountain Partners Disposition
Project Management
1/4/2011
1/1/2066
City of La Quinta
Project Management Costs - Staff
2
and Development Agreement
Costs
Time to administer development of 176-
unit affordable apartments
20
Coral Mountain Partners Disposition
Project Management
7/1/2012
9/1/2032
Rutan & Tucker
Project Management Costs - Legal
2
and Development Agreement
Costs
21
Water and Sewer Agreement for
Improvement/Infrastr
6/11/2005
12/31/2020
Coachella Valley Water
Future infrastructure improvements
1
future development at SilverRock
ucture
District
required for future development of
SilverRock by Domestic Water &
Sanitation System Installation and
Irrigation Agreement
22
Administrative Allowance
Admin Costs
1/1/2014
9/1/2039
City of La Quinta
Administrative Allowance per ABx1 26
1 and 2
1
(3% of ROPS)
23
Series A 2013 TARB
Bonds Issued After
12/23/2013
9/1/2033
US Bank
Refund 1998, 2001, 2002, 2003 TABs
12/31/10
24
Series B 2013 TARB
Bonds Issued After
12/23/2013
9/1/2032
US Bank
Refund 1998, 2001, 2002, 2003 TABs
12/31/10
25
Advances from City General Fund
City/County Loans
6/30/1994
9/1/2030
City of La Quinta
Loans made from the General Fund to
approved for repayment by Oversight
On or Before 6/27/11
the former RDA
Board
26
Long-range Property Management
Professional
9/24/2013
6/30/2014
Tall Man Group
Appraisals and professional consulting
Plan Implementation Services
Services
fees to administer the long-range
property management plan
27
2014 Bonds
Bonds Issued After
7/9/2014
9/1/2034
US Bank
Refund 2004 Bonds
1 and 2
.12/31/10
28
SilverRock Infrastructure
Professional
6/11/2005
12/31/2020
Various
Roadwork and improvements to
1
Services
support development
291
1 301
ROPS Detail
I
i
K
L
M
N
0
P
Total
Outstanding Debt
or Obligation
Reti red
Funding Source
Six -Month Total
Non -Redevelopment Property Tax Trust Fund
(Non-RPTTF)
RPTTF
Bond Proceeds
Reserve
Balance
Other Funds
Non-Admin
Admin
$ 401,491,235
$ 25,781,482
$
$
$ 14,167,917
$ 425,038
$ 40,374,437
N
N
N
N
N
58,157,798
N
1,616,134
1,616,134
15,153,833
N
277,503
277,503
60,000
N
10,000
10,000
15,140
N
15,140
15,140
742,543
N
25,000
25,000
18,529,580
N
18,529,580
18,529,580
140,415
N
-
32,605
N
-
756,780
N
100,000
100,000
228,373
N
-
300,000
N
50,000
50,000
30,000
N
30,000
30,000
ROPS Detail
I
i
K
L
M
N
0
P
Total
Outstanding Debt
or Obligation
Reti red
Funding Source
Six -Month Total
Non -Redevelopment Property Tax Trust Fund
(Non-RPTTF)
RPTTF
Bond Proceeds
Reserve
Balance
Other Funds
Non-Admin
Admin
133,098
Y
16,902
16,902
30,000
Y
30,000
30,000
16,625,644
N
-
-
6,500,000
N
425,038
425,038
141,526,588
N
7,843,260
7,843,260
34,319,624
N
1,901,618
1,901,618
35,534,214
N
602,644
602,644
75,000
Y
-
65,600,000
N
1,901,618
1,901,618
7,000,000
N
7,000,000
7,000,000
N
N
Recognized Obligation Payment Schedule (ROPS 14-15B) - Report of Cash Balances
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or
when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see https://rad.dof.ca.gov/rad-
sa/pdf/Cash Balance Agency Tips Sheet.pdf.
A B
C D E F G H
I
Fund Sources
Bond Proceeds
Reserve Balance
Other
RPTTF
Prior ROPS
Prior ROPS
period balances
RPTTF
Bondsissued
Bonds Issued
and DDR RPTTF
distributed as
Rent,
Non-Admin
on or before
on or after
balances
reserve for
Grants,
and
Cash Balance Information by ROPS Period
12131110
01101111
retained
future period(s)
Interest, Etc.
Admin
Comments
ROPS 13-14B Actuals (01/01114 - 06130/14)
1
Beginning Available Cash Balance (Actual 01/01/14)
2,568,830
31,279,316
30,918
6,880,787
2
Revenue/income (Actual 06130/14)
RPTTF amounts should tie to the ROPS 13-14B distribution from the
County Auditor -Controller during January 2014
81
526
42,228
20,011,681
Includes ROPS 14-15A $15,765,674
3
Expenditures for ROPS 13-14B Enforceable Obligations (Actual
06130/14)
RPTTF amounts, H3 plus H4 should equal total reported actual
expenditures in the Report of PPA, Columns L and Q
1,430,540
4
Retention of Available Cash Balance (Actual 06/30/14)
RPTTF amount retained should only include the amounts distributed for
debt service reserve(s) approved in ROPS 13-14B
1,937,653
5
ROPS 13-14B RPTTF Prior Period Adjustment
RPTTF amount should tie to the self -reported ROPS 13-14B PPA in the
No entry required
eport o PPA, Column S
3,015,467
6
Ending Actual Available Cash Balance
C to G = (11 + 2 - 3 - 4), H = (I + 2 - 3 - 4 - 5)
2,5;;;;;J77;�79,842
d
73,146
20,508,808
ROPS 14-15A Estimate (07/01/14 - 12/31/14)
7
Beginning Available Cash Balance (Actual 07101/14)
(C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6)
2,568,911
31,279,842
1,937,653
73,146
23,524,275
8
Revenue/Income (Estimate 12131/14)
RPTTF amounts should tie to the ROPS 14-15A distribution from the
County Auditor -Controller during June 2014
100
1,000
9
Expenditures for ROPS 14-15A Enforceable Obligations (Estimate
12/31/14)
16,933,801
10
Retention of Available Cash Balance (Estimate 12/31/14)
RPTTF amount retained should only include the amount distributed for
e t se ce reserve(s) approved in ROPS 14-15A
11
Ending Estimated Available Cash Balance (7 + 8 - 9 -10)
i
i 2,569,011
31,280,842
1,937,653
73,146
6,590,474
Recognized Obligation F
Reported for the ROPS 13-14B (January 1, 2C
ROPS 13-14B Successor Agency (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-1,
ROPS 14-15B (January through June 2015) period will be offset by the SA's self -reported ROPS 13-14B prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported by SAs are subject to audit by the county at
A
B
C D E I F G H
I i K L M
Non-RPTTF Expenditures
Bond Proceeds
Reserve Balance
Other Funds
Non-Admin
Available
RPTTF
(ROPS 13-14B
Difference
distributed + all other
Net Lesser of
(if K is less than L,
Project Name I Debt
available as of
Authorized
the difference is
Item #
Obligation
Authorized
Actual
Authorized
Actual
Authorized
Actual
Authorized
01/1/14)
Available
Actual
zero)
$ 18,996,482
$ 106,001
$ 5,528,529
$ 1,937,653
$
$
$ 4,155,487
$ 4,155,490
$ 4,155,487
$ 1,332,437
$ 2,823,050
1
1994 Tax Allocation Bonds
-
-
-
-
-
2
1998 Tax Allocation Bonds
600,390
-
337,113
337,113
337,113
337,113
3
2001 Tax Allocation Bonds
- Tax Exempt
1,978,298
-
-
-
-
4
2002 Tax Allocation Bonds
- Tax Exempt
-
1,200,328
1,200,328
1,200,328
1,200,328
5
2003 Tax Allocation Bonds
- Taxable
-
991,079
991,079
991,079
991,079
6
2004 Tax Allocation Bonds
- Tax Exempt
2,949,841
1,937,653
-
-
-
7
2011 Tax Allocation Bonds
- Taxable
-
1,345,884
1,345,884
1,345,884
1,076,134
269,750
8
2011 Tax Allocation Bonds
.- Taxable
255,943
255,946
255,943
237,503
18,440
9
Annual Continuing
Disclosure Statements
10,000
10,000
10,000
8,550
1,450
10
BondHolderFees
-
15,140
15,140
15,140
10,250
4,890
11
SilverRock Infrastructure
Design
150,000
76,596
-
-
-
12
Construction of
Washington Street
Apartments Site
Improvements &
Rehabilitation Project
18,529,580
13
Construction of
Washington Street
Apartments Site
Improvements &
Rehabilitation Project
25,000
1,850
14
Construction of
Washington Street
Apartments Site
Improvements &
Rehabilitation Project
10,000
15
Construction of
Washington Street
Apartments Site
Improvements &
Rehabilitation Project
125,000
27,555
16
Construction of
Washington Street
Apartments Site
Improvements &
Rehabilitation Project
60,000
Recognized Obligation F
Reported for the ROPS 13-14B (January 1, 2C
ROPS 13-14B Successor Agency (SA) Self -reported Prior Period Adjustments (PPA): Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS 13-1,
ROPS 14-15B (January through June 2015) period will be offset by the SA's self -reported ROPS 13-14B prior period adjustment. HSC Section 34186 (a) also specifies that the prior period adjustments self -reported by SAs are subject to audit by the county at
A
B
C D E I F G H
I i K L M
Non-RPTTF Expenditures
Bond Proceeds
Reserve Balance
Other Funds
Non-Admin
Available
RPTTF
(ROPS 13-14B
Difference
distributed + all other
Net Lesser of
(if K is less than L,
Project Name I Debt
available as of
Authorized
the difference is
Item #
Obligation
Authorized
Actual
Authorized
Actual
Authorized
Actual
Authorized
01/1/14)
Available
Actual
zero)
$ 18,996,482
$ 106,001
$ 5,528,529
$ 1,937,653
$
$
$ 4,155,487
$ 4,155,490
$ 4,155,487
$ 1,332,437
$ 2,823,050
17
Washington Street
Apartments Rehabilitation
Project
40,000
1 -
-
-
-
-
18
Washington Street
Apartments Rehabilitation
Project
10,000
19
Coral Mountain Partners
Disposition and
Development Agreement
16,902
20
Coral M untain Partners
Disposition and
Development Agreement
30,000
21
Water and Sewer
Agreement for future
development at SilverRock
-
22
Administrative Allowance
layment Schedule (ROPS 14-1513) - Report of Prior Period Adjustments
114 through June 30, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a)
(Report Amounts in Whole Dollars)
IS (January through June 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the
iditor-controller (CAC) and the State Controller.
N 1 0 P Q R S
T
RPTTF Expenditures
SA Comments
Admin
Net SA Non-Admin
and Admin PPA
(Amount Used to
Offset ROPS 14-15B
Requested RPTTF)
Authorized
Available
RPTTF
(ROPS 13-14B
distributed + all other
available as of
01/1/14)
Net Lesser of
Authorized
Available
Actual
Differe ce
(If total actual
exceeds total
authorized, the
total difference is
zero)
Net Difference
(M+R)
$ 290,520
$ 290,520
$ 290,520
$ 98,103
$ 192,417
$ 3,015,467
337,113
1,200,328
991,079
269,750
18,440
1,450
4,890
layment Schedule (ROPS 14-1513) - Report of Prior Period Adjustments
114 through June 30, 2014) Period Pursuant to Health and Safety Code (HSC) section 34186 (a)
(Report Amounts in Whole Dollars)
IS (January through June 2014) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) approved for the
iditor-controller (CAC) and the State Controller.
N 1 0 P Q R S
T
RPTTF Expenditures
SA Comments
Admin
Net SA Non-Admin
and Admin PPA
(Amount Used to
Offset ROPS 14-15B
Requested RPTTF)
Authorized
Available
RPTTF
(ROPS 13-14B
distributed + all other
available as of
01/1/14)
Net Lesser of
Authorized
Available
Actual
Differe ce
(If total actual
exceeds total
authorized, the
total difference is
zero)
Net Difference
(M+R)
$ 290,520
$ 290,520
$ 290,520
$ 98,103
$ 192,417
$ 3,015,467
290,520
290,520
98,103
Taf 4 Quba
OF
CITY /FSA] / HA / FA MEETING DATE: SEPTEMBER 16, 2014 AGENDA CATEGORY:
ITEM TITLE: ADOPT RESOLUTION APPROVING THE BUSINESS SESSION:
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET
FOR THE PERIOD OF JANUARY 1 THROUGH JUNE CONSENT CALENDAR:
30, 2015
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Adopt a resolution approving the Successor Agency Administrative Budget for the
period of January 1 through June 30, 2015.
EXECUTIVE SUMMARY:
The La Quinta Successor Agency (SA) administers the former
Redevelopment Agency's wind -down activities and the Oversight Board (OB).
ABx1 26 (Dissolution Act) provides for an administrative allowance to carry
out these wind -down activities (three percent of the property tax allocation
listed on the Recognized Obligation Payment Schedule, subject to change
based on review and approval by the Department of Finance (DOF)).
The Dissolution Act requires the SA to prepare an administrative budget
every six months.
Once the budget is approved by the SA, the OB is required to review and
approve it.
FISCAL IMPACT:
For the period of January 1 through June 30, 2015, the property tax allocation for
non -administrative costs totals $14,167,917. Three percent of this total is
$425,038 and the total expected administrative costs for the period are $425,038.
BACKGROUND/ANALYSIS:
ABx1 26 provides an administrative allowance for all successor agencies to carry
out wind -down activities of the former redevelopment agencies and to administer
the oversight boards.
The estimates below include staff time required to carry out SA and OB activities:
SA Administrative Budget
Personnel Costs 233,088
Professional Contract
Services 161,950
Supplies & Publications 4,000
Printing/Mailing/Advertising 1,000
Information Technology
Costs 8,000
Office & Equipment Costs 17,000
Total Administrative Costs 425,038
The two major cost components are Personnel Costs and Professional Contract
Services. Personnel costs are related to City staff time required to manage SA
affairs. The contract services costs are legal counsel, audit, and consulting
services (as may be required). The detailed administrative budget for this time
period is included as Attachment 1 .
Once the SA reviews and approves the administrative budget, the budget must be
reviewed and approved by the OB.
While Dissolution Act does not require the administrative budgets to be submitted
to the DOF, the DOF does review the actions of oversight boards the day after the
oversight board meeting takes place. Therefore, the DOF may question an
oversight board's approval of a successor agency's administrative budget.
ALTERNATIVES:
As this is a requirement of the DOF, staff does not recommend an alternative.
Report prepared by: Rita Conrad, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachment: 1. Administrative Budget for January 1 through June 30, 2014
RESOLUTION NO. SA 2014-
A RESOLUTION OF THE CITY OF LA QUINTA ACTING
AS THE SUCCESSOR AGENCY TO LA QUINTA
REDEVELOPMENT AGENCY APPROVING THE
SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR
THE PERIOD OF JANUARY 1, 2015 THROUGH JUNE 30,
2015
WHEREAS, the City Council of the City of La Quinta ("City Council" or "City,"
as applicable) has been established to direct the Successor Agency to take certain
actions to wind down the affairs of the former La Quinta Redevelopment Agency
("Agency") in accordance with the California Health and Safety Code; and
WHEREAS, the Agency was engaged in activities to execute and implement
the Project Area No. 1 Redevelopment Plan and the Project Area No. 2
Redevelopment Plan (collectively, the "Redevelopment Plans") pursuant to the
provisions of the California Community Redevelopment Law (Health and Safety
Code § 33000, et seg.) ("CRL"); and
WHEREAS, as part of the 2011-12 State budget bill, the California
Legislature enacted and the Governor signed, ABx1 26 requiring that each
redevelopment agency be dissolved; and
WHEREAS, an action challenging the constitutionality of ABx1 26 and
companion bill ABx1 27 was filed in the California Supreme Court by the California
Redevelopment Association, the League of California Cities, and two individual
cities; and
WHEREAS, on December 29, 2011, the Court upheld ABx1 26; and
WHEREAS, Health and Safety Code Section 341 77(j) requires each
successor agency to prepare a proposed administrative budget every six months
setting forth the successor agency's estimated administrative costs of carrying out
the wind -down activities of the former redevelopment agency, proposing sources of
payment for such estimated administrative costs, and proposing for arrangements
for administrative and operations services provided by a city, county and/or other
entity; and
WHEREAS, the Successor Agency has prepared a proposed administrative
budget for the six-month period January 1, 2015 - June 30, 2015 (the
"Administrative Budget"); and
Resolution No. SA 2014-
Adoption of SA Administrative Budget
Adopted: September 16, 2014
Page 2
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW THEREFORE, BE IT RESOLVED, by City of La Quinta Acting as the
Successor Agency to La Quinta Redevelopment Agency, does hereby resolve as
follows:
Section 1 . Recitals. The Recitals set forth above are true and correct and
incorporated herein by reference.
Section 2. Approval of Administrative Budget. The Successor Agency hereby
approves the Administrative Budget, which Administrative Budget is on file with
the Secretary of the Successor Agency.
Section 3. Severability. If any provision of this Resolution or the application
thereof to any person or circumstance is held invalid, such invalidity shall not affect
other provisions or applications of this Resolution which can be given effect
without the invalid provision or application, and to this end the provisions of this
Resolution are severable. The Oversight Board hereby declares that it would have
adopted this Resolution irrespective of the invalidity of any particular portion
thereof.
Section 4. The Oversight Board Secretary shall certify to the adoption of this
Resolution.
PASSED, APPROVED, AND ADOPTED at the meeting of the City of La
Quinta Acting as the Successor Agency to La Quinta Redevelopment Agency held
this 1 6th day of September, 2014, by the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Don Adolph, Mayor
City of La Quinta Acting as Successor
Agency to the La Quinta Redevelopment
Agency
ATTEST:
Resolution No. SA 2014-
Adoption of SA Administrative Budget
Adopted: September 16, 2014
Page 3
SUSAN MAYSELS, City Clerk
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
(AGENCY SEAL)
APPROVED AS TO FORM:
WILLIAM H. IHRKE, Successor Agency Counsel
City of La Quinta Acting as Successor Agency
To the La Quinta Redevelopment Agency
ATTACHMENT 1
SUCCESSOR AGENCYIOVERSIGHT BOARD
JANUARY - JUNE 2015
ADMINISTRATIVE BUDGET
PERSONNEL
$233,088
Includes base salary plus benefits.
Successor Agency Administration
$168,088
Oversight Board Administration
$65,000
SUPPLIES & SERVICES
CONTRACT SERVICES
$161,950
This account provides for legal, consulting, and audit services
plus a portion of League of California Cities and California
Redevelopment Agency dues related to technical
assistance and training.
Audits as required by ABx1 26
$10,000
League of California Cities Dues & Seminars/Webinars related to Al3x1 26
$1,950
Legal Services for Successor Agency
$75,000
Consulting Services for Successor Agency
$75,000
SUPPLIES AND PUBLICATIONS
$4,000
This account provides for various office supplies and publications
to be used by SA and OB staff and board members
Successor Agency Supplies & Publications
$2,500
Oversight Board Supplies & Publications
$1,500
PRINTINGIMAILINGIADVERTISING
$1,000
$1,000
This account provides for required mailings, agenda printing,
and legal advertising
INFORMATION TECHNOLOGY
$8,000
This account provides for annual replacement charges for
information technology items such as computers, printers,
and computer related items attributable to SA/OB; and
support/hosting for SA/OB web pages, which are required
by ABx1 26
$5,500
Computer Document Storage related to Successor Agency
$2,000
On -Line Muni Code related to Successor Agency
$500
OFFICE & EQUIPMENT
$17,000
This account provides for office space rental and equipment
usage in City Hall
Rent
$15,000
Equipment
$2,000
TOTAL ADMINISTRATIVE BUDGET
$425,038
FUNDING SOURCES:
Total Administrative Costs
$425,038
3% Administrative Allowance per ROPS 14-15B
$ 425,038
1 Excess Administrative costs
so
F:\ROPS\La Quinta ROPS 14-15B\Admin Budget Jan -Jun 2015 FINAL