CC Resolution 1993-031^"De RESOLUTION NO. 93-31
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA MAKING CERTAIN FINDINGS IN CONNECTION
WITH THE DISPOSITION AND DEVELOPMENT AGREEMENT BY
AND AMONG THE LA QUINTA REDEVELOPMENT AGENCY AND
WES DEVELOPMENT COMPANY1 A CALIFORNIA
CORPORATION PERTAINING TO PROPERTY LOCATED
WITHIN THE PROJECT AREA OF THE LA QUINTA
REDEVELOPMENT PROJECT
WHEREAS, the La Quinta Redevelopment Agency hereinafter
referred to as the Agency*') under the provision of the
California Community Redevelopment Law, is engaged in
activities necessary for the execution of the Redevelopment
Plan for the La Quinta Redevelopment Project, as heretofore
amended hereinafter referred to as Pro*ect No. 1"); and
WHEREAS, the Agency is further engaged in activities
necessary for the execution of the Redevelopment Plan for
Project No. 2 of the City of La Quinta, as heretofore amended
Project No. 2"); and
WHEREAS, WES Development Company the Developer") has
entered into an Agreement the Disposition and Development
Agreement" or DDA") with the Agency, which was approved by the
City Council pursuant to Resolution No. 92-44; and
WHEREAS, the Developer also has entered into an Agreement
for Implementation of Disposition and Development Agreement
the Implementation Agreement") with the Agency pursuant to a
an Agency minute order action on October 20, 1992; and
WHEREAS, pursuant to the DDA and Implementation Agreement,
the Agency will convey up to thirty-six 36) parcels the
parcels") to the Developer to be developed as single family
detached housing units the units"), and the Developer will
make the units available for sale to Very Low, Lower and
Moderate Income households pursuant to Section 33334.2 of the
California Health and Safety Code and the units will be subject
to long-term affordability covenants; and
WHEREAS, the Agency and the Developer have proposed
entering into a Second Agreement for Implementation of the
Disposition and Development Agreement Second Implementation
Agreement") in order to clarify certain terms of the DDA, to
authorize the Agency to revise the assistance to be given to
particular purchasers of the units, and to authorize the
Developer to sell one unit at a price which is greater than an
Affordable Housing Cost; and
BIB]
08-14-1998-U01
11:57:23AM-U01
ADMIN-U01
CCRES-U02
93-U02
31-U02
^"De I LIII
WHEREAS, the provision of affordable housing is
contemplated by Section 33334.2 and other provisions of the
Community Redevelopment Law and promotes the objectives of the
Redevelopment Plans for Project No. 1 and Project No. 2; and
WHEREAS, the provision of affordable housing pursuant to
the Disposition and Development Agreement as modified and
implemented by the Implementation Agreement and Second
Implementation Agreement will benefit each of Project No. 1 and
Project No. 2;
WHEREAS, the City Council has reviewed the terms of the
Second Implementation Agreement.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LA QUINTA
DOES RESOLVE AS FOLLOWS:
Section 1:
The City Council finds and determines that the use of
Housing Funds pursuant to the Disposition and Development
Agreement and Implementation Agreement will be of benefit to
Project No. 1.
Section 2:
The City Council finds and determines that the use of
Housing Funds pursuant to the Disposition and Development
Agreement and Implementation Agreement will be of benefit to
Project No. 2.
Section 3:
The City Council hereby approves the sale of real property
pursuant to the Disposition and Development Agreement, as
modified and implemented by the Implementation Agreement and
the Second Implementation Agreement.
ADOPTED this 2flth day of April 1993.
Mayor Pro Tern *
*lerk*
04/14/93
5310Q/2338/024 2
BIB]
08-14-1998-U01
11:57:23AM-U01
ADMIN-U01
CCRES-U02
93-U02
31-U02
^"DeResolution No. 93-31
I hereby certify that the foregoing Resolution was
duly and regularly adopted by the City Council of the City
of La Quinta at a regular meeting thereof held on the
20th day of April 1993, by the following
vote:
AYES: Council Members Mccartney, Perkins & Kaybr Pro Tern Sniff
NOES: None
ABSENT: Council Member Bangerter & Mayor Pena
ABSTAIN: None
ity Clerk
04/14/93
5310Q/2338/024 3
BIB]
08-14-1998-U01
11:57:23AM-U01
ADMIN-U01
CCRES-U02
93-U02
31-U02