CC Resolution 1992-028^#A I
RESOLUTION NO. 92-28
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA
QUINTA APPROVING THE CONVEYANCE OF PROPERTY
PURSUANT TO THE FIRST AMENDME*T TO THE AFFORDABLE
HOUSING AGREEMENT BY AND BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AND COACHELLA VALLEY HOUSING
COALITION
WHEREAS, the La Quinta Redevelopment Agency the *Agency")
and the Coachella Valley Housing Coalition, a California
nonprofit public benefit corporation the Developer") entered
into a certain Affordable Housing Agreement, dated as of
June 11, 1991 the Agreement"); and
WHEREAS, the Agreement provides that the Developer would
acquire twenty 20) parcels of land within the Cove" area of
the City of La Quinta the City") and cause the construction
of twenty 20) single family houses thereon, to be constructed
by and sold to persons and households of lower income at an
affordable housing cost; and
WHEREAS, the Agency and the Developer have been proceeding
to perform their respective obligations pursuant to the
Agreement; and
WHEREAS, the Agency and the Developer now desire to amend
the Agreement to reduce the number of houses constructed from
twenty 20) to ten 10), to provide that the Agency purchase
the sites and convey those sites to the Developer, to increase
the amount of the loans the Agency will make to each homebuyer,
to decrease the amount of the construction grant and
construction loan to be made by the Agency to the Developer,
and to make other changes as set forth in the First Amendment
to Affordable Housing Agreement the Amendment"); and
WHEREAS, the Agency has prepared a report pursuant to
Section 33433 of the California Health and Safety Code and has
caused such report to be on display pursuant to the
requirements of Section 33433; and
WHEREAS, the approval and execution of the Amendment will
facilitate the orderly completion of the houses as contemplated
in the Agreement and in furtherance of the Redevelopment Plan
for La Quinta Redevelopment Project No. 1 the Redevelopment
Plan"); and
WHEREAS, the Agency and the City Council of the City of La
Quinta the City Council") have conducted a duly noticed joint
public hearing regarding the proposed amendment;
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^#A I
NOW, THEREFORE, the City Council of the City of La Quinta
does resolve as follows:
Section 1. The City Council has received and heard all
oral and written objections to the proposed Amendment, and all
such objections are overruled.
Section 2. The City Council hereby approves the
Amendment, and the conveyance of real property pursuant to the
Agreement, as amended.
PASSED, APPROVED AND ADOPTED this * day of March
1992, by the following vote:
AYES: Council Members Franklin, Sniff and Mayor Pena
NOES:
ABSTAIN: Council Member Rushvorth
ABSENT: Council Member Bohnenberger
CITY OF LA QUINTA
By:
02/13/92
95*Rij*)*R*iflfl
BIB]
08-03-1998-U01
04:46:57PM-U01
ADMIN-U01
CCRES-U02
92-U02
28-U02