CC Resolution 1995-094^!I RESOLUTION 95-94
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF LA QUINTA APPROVING AN
INTERCHANGE REIMBURSEMENT
AGREEMENT
WHEREAS, the City of La Quinta the YCity*) and Coachella Valley Association of
Governments CVAG'*) desire to enter into a certain Interchange Reimbursement Agreement
including Addendum I" the Agreement"); and
WHEREAS, the purpose of the Agreement is for the development of a freeway interchange
and necessary public improvements that will significantly benefit egress and ingress into the City
of La Quinta and the Redevelopment Project Areas No. l and No.2; and
WHEREAS, the City intends to utilize funds obtained pursuant to its development
infrastructure fee program to pay for its obligation under the Agreement, but in the event such flinds
are not available then the Agency funds may be the only reasonable means of paying the
reimbursement; and
WHEREAS, the Agreement is in the vital and best interest of the City and the health, safety
and welfare of its residents, to make possible the completion of vital public improvements to
significantly enhance access to the City for residents and businesses; and
WHEREAS, pursuant to Health and Safety Code Section 33445, the Agency is authorized
to use tax increment revenues to pay all or a part of the value of the land for and the cost of the
installation and construction of any building, facility, structure, or other improvement which is
publicly owned either within or out of the project area.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of La Quinta as
follows:
Section 1. Pursuant to Health and Safety Code Section 33445, the City finds and
determines that: I) the public improvements set forth in the Agreement to be constructed by the lead
Agency and reimbursed according to the Agreement by the City are of benefit to the Project Area
and the immediate neighborhood in which the project is located; 2) no other reasonable means of
financing the improvements are available to the community if the developer infrastructure fee is not
available; and 3) the payment of flinds for the improvements to the Washington Street Interchange
will assist in improving access and egress to the City of La Quinta and the Project Areas.
Section 2. The City approves the Agreement and authorizes the Mayor to execute and
the City Manager to take any action necessary to implement the Agreement.
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^!I dJI * I h
RESOLUTION NO.95-94
PASSED, APPROVED AND ADOPTED this 5th day of December, *995 by the following
vote:
AYES: Council Members Adolph, Perkins, Sniff, Mayor Bangerter
NOES: None
ABSENT: One Vacancy)
ABSTMN: None
City of La Quinta, California
AUNDRA L. OLA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
DA*WN HONEYWELL, City Attorney
City of La Quinta, California
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