RDA Resolution 1992-03, RESOLUTION NO. RA92-3
RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY
AUTHORIZING EXECUTION OF AN AMENDMENT TO OWNER
PARTICIPATION AGREEMENT PROVIDING FOR THE
CONSTRUCTION OF CERTAIN ADDITIONAL PUBLIC
IMPROVEMENTS
WHEREAS, the La Quinta Redevelopment Agency the Agency")
is carrying out the Redevelopment Plan the Redevelopment
Plan") for the La Quinta Redevelopment Project No. 2 the
Project"); and
WHEREAS, the Agency has approved an Owner Participation
Agreement the OPA") between Washington/Adams L.P. and the
Agency providing for the development of a retail shopping
center on certain real property the Site") located within the
boundaries of the Project; and
WHEREAS, pursuant to the OPA, the Agency is responsible for
a portion of the costs of certain public improvements to be
constructed and installed in connection with the development of
the Site; and
WHEREAS, one additional public improvement, the rough
grading of Adams Street between Highway 111 and Avenue 47, has
become necessary subsequent to the execution of the OPA in
order for the Developer to timely complete the construction of
the Wal-Mart store to be constructed on the Site; and
WHEREAS, the Agency has previously agreed to finance the
cost of that additional public improvement at a later time; and
WHEREAS, the cost of the additional public improvement is
estimated to be approximately Seventy-Three Thousand Dollars
$73,000); and
WHEREAS, pursuant to Section 33445 of the Community
Redevelopment Law, the Agency is authorized with the consent of
the City Council to be responsible for all or any part of the
value of and the cost of installation and construction of any
building, facility, structure or other improvement which is
publicly owned either within or without the Project Area upon a
determination by the City Council that such building, facility,
structure or other improvement is of benefit to the Project
Area or the immediate area in which the Project is located and
that no other reasonable means of financing such building,
facility, structure or other improvement is available to the
community; and
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,RESOLUTION NO. RA 92-3
WHEREAS, the City Council has made the above finding by
resolution concurrently with the Agency*s approval of this
Resolution.
NOW, THEREFORE, BE IT RESOLVED by the La Quinta
Redevelopment Agency as follows:
Section 1. The Agency hereby finds and determines that
the provision of the additional public improvement consisting
of the rough grading of Adams Street between Highway 111 and
Avenue 47 by the Agency in connection with the development of
the Site in the manner set forth in the OPA is of benefit to
the Project Area and that no other reasonable means of
financing such additional public improvement is available to
the City, and the Agency is authorized, based upon the consent
of the City Council, to participate in the costs of
installation and construction of such additional public
improvement.
Section 2. The Agency hereby approves and authorizes
the execution of an amendment to the OPA which requires the
Developer to undertake the construction of the additional
public improvement and requires the Agency to pay the cost
therefor
Section 3. The Chairman and the Executive Director of
the Agency are hereby authorized to negotiate, draft and
execute an amendment to the OPA on behalf of the Agency, which
amendment is consistent with and carries out the terms of this
Resolution.
ADOPTED this 17th day of March 1992.
LA QUINTA REDEVELOPMENT AGENCY
Chairman
O3/1*/92
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,RESOLUTION NO. RA 92-3
I hereby certify that the foregoing Resolution was
duly and regularly adopted by the La Quinta Redevelopment***o*rnent
Agency at a regular meeting thereof held on the day of
March 1992, by the following vote:
AYES: Mrs. Franklin, Mr. Rushworth, Mr.Sniff and
Chairman Pena
NOES: None
ABSENT: None
ABSTAIN: Mr. Bohnenberger
03/16/92
9952u/258B/000
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