RDA Resolution 1992-040 RESOLUTION NO. RA92-4
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY AUTHORIZING THE PURCHASE OF CERTAIN
PROPERTIES WITHIN THE LA QUINTA REDEVELOPMENT
PROJECT NO. 1.
WHEREAS, the La Quinta Redevelopment Agency the
Agency") is engaged in activities necessary to carry out and
implement the Redevelopment Plans for La Quinta Redevelopment
Projects No. 1 and No. 2; and
WHEREAS, the Agency is required by California Health
and Safety Code Section 33334.2, * *., to expend a certain
percentage of property taxes allocated to it for the purpose of
increasing, improving and preserving the community*s supply of
low- and moderate-income housing available at an affordable
housing cost; and
WHEREAS, in order to carry out and implement such
plans and duties the Agency has entered into an Affordable
Housing Agreement with the Coachella Valley Housing Coalition
CVHC"), dated as of June 11, 1991, to provide for the
acquisition of certain property and the construction of housing
thereon to be sold to lower income persons and households; and
WHEREAS, in order to carry out and implement such
plans and duties the Agency is considering other projects for
the development of low- and moderate-income housing available
at an affordable housing cost; and
WHEREAS, CVHC has assigned or has indicated its
willingness to assign to the Agency any rights it may have to
purchase certain parcels of real property within the Cove"
area of the City of La Quinta; and
WHEREAS, the Agency on February 18, 1992, by
Resolution No. RA 92-1, authorized the acquisition of five
parcels of real property within the Cove area of the City; and
WHEREAS, the Agency finds that numerous other parcels
of real property in the Cove area of the City are located
within La Quinta Redevelopment Project No. 1 and are available
for purchase at a price which might facilitate the development
of affordable housing thereon; and
WHEREAS, the Agency believes that the purchase of
parcels of real property within the Cove area of the City would
be in the best interests of the City and the health, safety and
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0RESOLUTION NO. RA 92-4
welfare of its residents, and in accord with the Affordable
Housing Agreement, Health and Safety Code Section 33334.2, *
* and provisions of other applicable state and local laws
and requirements.
NOW, THEREFORE, the La Quinta Redevelopment Agency
does hereby find, determine, order and resolve as follows:
Section 1. The Agency Executive Director is hereby
authorized to acquire any fifteen 15) of the following legally
described parcels of real property on behalf of the Agency
pursuant to the staff report recommendation, provided that the
purchase price for such parcels is substantially within or
below the fair market value of such parcels as determined by an
analysis of recent comparable sales prices, and provided that
the Agency is not required by the terms of the purchase
agreement to convey such property to CVHC, and further provided
that the terms of such purchase are acceptable to the Agency*s
legal counsel:
a. Lot 4 in Block 70 of Santa Carmelita at Vale La
Quinta.
b. Lot 5 in Block 70 of Santa Carmelita at Vale La
Quinta.
c. Lot 5 in Block 51 of Santa Carmelita at Vale La
Quinta.
d. Lot 23 in Block 65 of Santa Carmelita at Vale La
Quinta.
e. Lot 4 in Block 67 of Santa Carmelita at Vale La
Quinta.
f. Lot 3 in Block 68 of Santa Carmelita at Vale La
Quinta.
g. Lot 5 in Block 56 of Santa Carmelita at Vale La
Quinta.
h. Lot 18 in Block 94 of Santa Carmelita at Vale La
Quinta.
1. Lot 19 in Block 94 of Santa Carmelita at Vale La
Quinta.
*. Lot 20 in Block 94 of Santa Carmelita at Vale La
Quinta.
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RESOLUTION NO. RA 92-4
k. Lot 2 in Block 12 of Santa Carmelita at Vale La
Quinta.
1. Lot 3 in *lock 11 of Santa Carmelita at Vale La
Quinta.
m. Lot 20 in Block 11 of Santa Carraelita at Vale La
Quinta.
n. Lot 22 in Block 164 of Santa Carmelita at Vale La
Quinta.
0. Lot 21 in Block 164 of Santa Carmelita at Vale La
Quinta.
p. Lot 8 in Block 165 of Santa Carmelita at Vale La
Quinta.
q. Lot 9 in Block 165 of Santa Carmelita at Vale La
Quinta.
r. Lot 21 in Block 151 of Santa Carinelita at Vale La
Quinta.
S. Lot 20 in Block 151 of Santa Carmelita at Vale La
Quinta.
t. Lot 14 in Block 144 of Santa Carmelita at Vale La
Quinta.
U. Lot 8 in Block 158 of Santa Carmelita at Vale La
Quinta.
V. Lot 14 in Block 159 of Santa Carmelita at Vale La
Quinta
w. Lot 13 in Block 170 of Santa Carmelita at Vale La
Quinta.
x. Lot 8 in Block 190 of Santa Carmelita at Vale La
Quinta.
y. Lot 18 in Block 190 of Santa Carmelita at Vale La
Quinta.
z. Lot 18 in Block 250 of Santa Carmelita at Vale La
Quinta.
aa. Lot 20 in Block 256 of Santa Carmelita at Vale La
Quinta.
bb. Lot 16 in Block 112 of Santa Carmelita at Vale La
Quinta.
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0 RESOLUTION NO. RA 92-4
Section 2. The Agency Executive Director or his
designee is authorized and directed to negotiate the
acquisition of other parcels of real property within the Cove
area of the City, upon the same terms set forth in Section 1
above, which are necessary or convenient for the Agency*s
purposes in implementing the Affordable Housing Agreement and
the redevelopment plans and meeting the requirements of Health
and Safety Code Section 33334.2, * sea. No such parcels shall
be acquired by or on behalf of the Agency without prior Agency
approval of the acquisition of such particular parcel.
Section 3. The Agency Executive Director is
authorized to take all steps and to sign all documents and
instruments including, but not limited to, purchase and sale
agreements and acceptance of grant deeds, to carry out Sections
1 and 2 above. Any funds expended in connection therewith
shall be obtained from the Agency*s Low- and Moderate-Income
Housing Fund, which is maintained pursuant to Health and Safety
Code Section 33334.2, *
PASSED, APPROVED and ADOPTED this 7th day of
April 1992.
LA QUINTA REDEVELOPMENT AGENCY
*rman*
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