RDA Resolution 1993-14w*h4 RESOLUTION NO. RA 93-14
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING THE OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AND KOENIG COMPANIES
MAKING CERTMN FINDINGS IN CONNECTION
THEREWITh
WHEREAS, the La Quinta Redevelopment Agency the Agency") is a community
redevelopment agency organized and existing under the California Community Redevelopment
Law, Health and Safety Code Section 33000 *et *., and has been authorized to transact business
and exercise the powers of a redevelopment agency pursuant to action of the City Council of the
City of La Quinta the City Council"); and
WHEREAS, the City Council, acting pursuant to the provisions of the California
Community Redevelopment Law Health and Safety Code Section 33000 * *.), has adopted the
Redevelopment Plan the Plan") for the La Quinta Redevelopment Project No.1 the Project")
by Ordinance No 43; and
WHEREAS, in order to carry out and implement such Redevelopment Plan the Agency
proposes to enter into that certain Owner Participation Agreement the Agreement") with Koenig
Companies the Participant"), for the development of certain property the"Site") in the Project
Area the Project Area"), all as described in the Agreement; and
WHEREAS, Health and Safety Code Section 33445 authorizes redevelopment agencies,
with the consent of the legislative body, to pay all or 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 if the legislative body determines that such improvements are of benefit
to the redevelopment project area or the immediate neighborhood in which the project is located,
and that no other reasonable means of financing such buildings, facilities, structures or other
improvements are available to the community; and
WHEREAS, the Agreement would require the Agency to pay a portion of the cost of
three traffic signals the Public Improvements") located within the Project Area near the Site;
and
WHEREAS, the Agency has determined that the Public Improvements would be of
benefit to the Project by helping direct the orderly flow of traffic within the Project Area; and
WHEREAS, the Agency has determined that the City lacks sufficient unencumbered and
unreserved funds at this time to fund the Public Improvements, and has further determined that it
would not be economically feasible for the Participant to fund the Public Improvements as a cost
of developing the Site; and
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RESOLUTION NO. RA 93-14
WHEREAS, the Agency has duly considered all terms and conditions of the proposed
Agreement and believes that the development of the Site pursuant thereto is in the best interests
of the City of La Quinta and the health, safety, and welfare of its residents, and in accord with
the public purposes and provisions of applicable state and local laws and requirements.
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Redevelopment Agency
as follows:
Section 1: The Agency hereby finds and declares that the Public Improvements are of
benefit to the Project, and that there is no other reasonable means of financing the Public
Improvements other than by the Agency pursuant to the Agreement.
Section 2: The Agency approves the execution of the Agreement and a copy of the
Agreement when executed shall be placed on file in the office of the City Clerk. The Executive
Director of the Agency is authorized to implement the Agreement and execute all further
documents and take such further actions as may be necessary to carry out the Agreement.
Section 3: The Secretary shall certify to the adoption of this Resolution.
APPROVED AND ADOIVIED this 21st day of December, 1993 at a regular meeting
of the La Quinta Redevelopment Agency by the following vote:
AYES: Members Bangerter, McCartney, Perkins, Sniff, Chairman Pena
NOES: None
ABSENT: None
ABSTAIN: None
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w*h4 RESOLUTION NO. PA 93-14
JOHN NA,C i an
La Quinta Redevelopment Agency
ATT*TA/)**
#DRALJUH)'**cretary
La Quinta Redevelopment Agency
APPROVED AS TO FORM:
*a'fiAt'
DAWN HON Counsel
Stradling, Yocca, Carlson & Rauth
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