HomeMy WebLinkAboutSR - H&S SEC 33080.1XL
PALM DESERT REDEVELOPMENT AGENCY
REQUEST:
SUBMITTED BY:
DATE:
CONTENTS:
Recommedation:
STAFF REPORT
RECEIVE AND FILE REPORT PURSUANT TO SECTION 33080.1
OF THE HEALTH AND SAFETY CODE
DAVID YRIGOYEN, DIRECTOR OF REDEVELOPMENT AND
HOUSING
JANUARY 25, 2007
REPORT PURSUANT TO SECTION 33080.1 OF THE HEALTH
AND SAFETY CODE
By Minute Motion, that the Agency Board receive and file the Report
pursuant to Section 33080.1 of the Health and Safety Code.
Discussion:
On December 27, 2006, you received a copy of the Report pursuant to the Health and
Safety Code 33080.1. The Health and Safety Code requires that every redevelopment
agency present an annual report to its legislative body within six months of the end of
the Agency's fiscal year. This report is a compilation of seven (7) independent reports,
which consist of the following:
1. The independent financial audit report for the Agency's previous fiscal year,
including the Agency's Low and Moderate Income Housing Fund, with the
opinion on the Agency's operations and financial positions
2. A fiscal statement for the previous fiscal year that contains the following
information:
a. The amount of outstanding indebtedness of the Agency and each project
area
b. The amount of tax increment revenues generated by the Agency and in
each project area
C. The amount of tax increment revenues paid to or spent on behalf of a
taxing agency other than a college or a college district
Staff Report
Receive and File Report Pursuant to Section 33080.1 of the Health and Safety Code
Page 2 of 2
January 25, 2007
d. The financial transactions report
e. The amounts allocated to schools and colleges pursuant to several codes
The amount of payments required to be on existing indebtedness
3. A description of the Agency's activities in the previous fiscal year affecting
housing and displacement
4. A description of the Agency's progress including specific actions and
expenditures in alleviating blight in the previous fiscal year
5. A list of and status report on all loans made by the Agency that are $50,000.00 or
more that in the previous fiscal year were in default or not in compliance with the
terms of the loan approved
6. A description of the total number and nature of properties that the Agency owns
and those acquired in the previous fiscal year
7. Any other information believed useful to explain its programs
The report is to be reviewed and any necessary action taken by the City Council/
Agency Board no later than its first meeting occurring more than 21 days from receipt of
the report. This should occur at the Agency Board's second meeting in January.
Submitted By:
David Yri6oye
Director edevelopment/Housing
aks/
Approval:
,r
Carthy
velopmen
Awl>_
Carlos L. gr%ga
Executive Director
�C6 �F"Y RDA
ON -0q
VERIFIED BY_�
Original on file with City Clerk's Office
RDA -Ann Rept 06-Staff Rept
PALM DESERT REDEVELOPMENT AGENCY
�
MEMORANDUM
TO: CITY MANAGER, HONORABLE MAYOR AND MEMBERS OF THE CITY
COUNCIL
EXECUTIVE DIRECTOR, HONORABLE CHAIRMAN AND MEMBERS
OF REDEVELOPMENT AGENCY BOARD
FROM: DAVID YRIGOYEN, DIRECTOR OF REDEVELOPMENT AND HOUSING
DATE: DECEMBER 26, 2006
SUBJECT: REPORT PURSUANT TO SECTION 33080.1 OF THE HEALTH AND
SAFETY CODE
INFORMATIONAL - Receive and File.
You are getting this report at this time and in this manner because Redevelopment Law
`. requires this report be presented to you within six months of the end of the year. This
report will be placed on your agenda in January for you to formally receive and file.
Pursuant to Health and Safety Code Section 33125.5 the City Clerk's Office maintains
minutes or other records of the proceedings of public meetings, and so they are available
to the public. Pursuant to Health and Safety Code Sections 33126 and 33130, rules and
regulations covering all employees are on file with the office of the City Clerk as Sections
2.56 and 2.52 of the Palm Desert Municipal Code.
The Health and Safety Code requires that every redevelopment agency present an annual
report to its legislative body within six months of the end of the agency's fiscal year. This
report is a compilation of seven (7) independent reports which consist of the following:
1. The independent financial audit report for the Agency's previous fiscal year,
including the Agency's Low and Moderate Income Housing Fund, with the opinion
on the Agency's operations and financial position, pursuant to Section 33080.1 and
Section 33334.12 (subdivision g) of the Health and Safety Code, meeting audit
guidelines set forth in Sec#ion 33080.3.
2. A fiscal statement for the previous fiscal year that contains the following information
pursuant to Section 33080.5:
� a. The amount of outstanding indebtedness of the Agency and each project
area
G.IRDA1Gtlry W�Ak�MNNUAL /�P17R11Cont�n4 ANnw Firl.wpd
Annual Report to the Legislative Body
December 2006
`" Page 2
b. The amount of tax increment revenues generated by the Agency and in each
project area
c. The amount of tax increment revenues paid to or spent on behalf of a taxing
agency other than a school or college district
d. The financial transactions report
e. The amounts allocated to schools and colleges pursuant to several codes
f. The amount of payments required to be paid on existing indebtedness
3. A description of the Agency's activities in the previous fiscal year affecting housing
and displacement, pursuant to Sections 33080.4 and 33080.7 of the Health and
Safety Code, A copy of the letter from the California Department of Housing and
Community Development stating the communities housing element, dated May 22,
2002.
4. A description of the Agency's progress including specific actions and expenditures
in aUeviating blight in the previous fiscal year, pursuant to Section 33080.1 of the
�.. Health and Safety Code. Also includes a copy of the Third Five Year
Implementation Plan (FY 2004-05 through 2008-09) Adopted November 18, 2004.
5. A list of and status report on all loans made by the Agency that are $50,000.00 or
more that in the previous fiscal year were in default or not in compliance with the
terms of the loan approved, pursuant to section 33080.1 of the Health and Safety
Code.
6. A description of the total number and nature of properties that the Agency owns and
ihose acquired in the previous fiscal year, pursuant to section 33080.1 of the Health
and Safety Code.
7. Any other information believed useful to explain its programs. Includes the following
reports/statements , pursuant to Section 33080.1 of the Health and Safety Code:
Excess Tax lncrement, Jobs generated and Progress made through Economic
Development.
�
G WDAiCamy W�Ik�MNNUAI REAORT1Conbn4 ANnw FnaLwpO
Annual Report to the Legislative Body
__ December 2006
Page 3
The report is to be reviewed and any necessary action taken by the City Council/Agency
Board no later than its first meeting occuRing more than 21 days from receipt of the report.
This should occur at the City Council's/Agency Board's first meeting in January.
id oyen
Director of Redevelopment/Housing
REVIEWED AND CONCUR:
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City Manager/Ex utive Director
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McCarthy edevelopment
Ick
Attachments
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G �RDA�Cafny WaikrIANNU�L REPORTConf�nf3 Al�mo Fnii wpd
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PALM DESERT REDEVELOPMENT AGENCY
PALM DESERT, CALIFORNIA
FINANCIAL STATEMENTS
JUNE 30� 2006
�
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PALM DESERT REDEVELOPMENT AGENCY
JUNE 30, 2006
TABLE OF CONTENTS
Page
Number
INDEPENDENT AUDiiORS' REPORT
F�nancial Audit 1
Compliance Audit 3
MANAGEMENT pISCUSSION AND ANALYSIS 5
BASIC FINANCIAL STATEMENTS
Govemment-Wide Financ�al Statements:
Exhibit A- Statement of Net Assets 11
Exhib�t B- Statement of Activities 12
Fund Financial Statements:
Exhibit C- Qa�ance Sheet - Governmental Funds �4
Exhibit D- Reconciliation of Govemmental Funds Balance Sheet
to the Statement of Nat Assets 16
�-- Exhibit E- Statement of Revenues, Expenditures and Changes in Fund
9alances - Govemmental Fund Types 18
Exhibit F- Reconciliation of the Statement of Revenues, Expendftures and
Changes in Fund Balances of Governmental Funds to the
Statement of Actnrities 20
Notes to Basic Financial Statements 21
SUPPLEMENTARY {NFORMATION
Schedule �_ Combining Balance Sheet - Other Governmenta� Funds 45
Schedule 2- Combining Statement of Revehues, Expenditures and Changes
in Fund Balances - Other Govemmental Funds 46
Schedule 3- Combining Balance Sheet - Housing Authority Special Revenue Fund 48
Schedule 4- Combining Statement of Revenues, Expendltures and Changes
in Fund Balances - Housing Authority Special Revenue �und 50
Schedule 5- Combming Balance Sheet - Other Governmental Funds -
Debt Service 52
Schedule 6- Combining Statement of Reve�ues, Expendltures and Changes
in Fund Balances - Other Govemmental Funds - Debt Service 53
.r
PALM DESERT REDEVELOPMENT AGENCY
JUNE 30, 2006
�: • •�
Page
NyIDl�L
SUPPLEMENTARY INFORMATION (Continued)
Schedule 7- Combining Balance Sheet - Other Governmental Funds -
Capital Projects �
Schedule 8- Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - Other Governmental Funds - Capital Projects 55
Schedule 9- Computation of Low and Moderate Housmg Excess Surplus Funds 56
�..
Lance
SO�� �
Lunghard
�' LLP
Cerk'fied Public Accountants
INDEPENDENT AUDITORS' REPORT
To the Honorable Mayor and Members of the City Gouncil
Palm Desert Redevelopment Agency
Bnndon W. Burrowc
Donald 1.. Parker
Mich�el K. Chu
David E. Hde
� n.�«.w.► c«�
Don�ld G. S7ater
Richard K. Ki1►ucfiti
Retired
Robert C.Lana
��i..�sw
Rich�rd C. Soll
Fred J. I.un`hard, Jr.
imt+++
We have audited the accompanying financial statements of the govemmeRtal activities, each mafoc fund,
anC the aggregate remaining fund information of the Palm Desert Redevelopment Agency, a component
unit of the City of Palm Desert, Calffornia, as of and for the year ended June 30, 2006, wnich collectively
comp►�se the Agency's basic financia! statemenls as listed m the table of contents. These fmanciai
statements are the responsibility of the Palm Desert Redevelopment Agency's management Our
�esponsibiiity �s to express op�nions on these f�nanc�al statements based on our audit.
�..
We conducted our audit in accordance with auditing standards generally accepted m the United States of
America and the standards applicable to financial audits contained in Govemment Audihng Standards
�ssued by the Corriptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the fmancial statements are free of material
misstatement. An audit includes exammmg, on a test basis, evidence support�ng the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant est�mates made by management, as we�t as evatuatting the ovesatti ttinanciati stalement
presentation We believe that our audit provides a reasonable basis for our opinions.
in our opin�on, the financial statements referred to above present fairly, in all material respects, the
respective f�nanciai posit�on of the govemmental activities, each major fund and the aggregate remaining
fund information of the Palm Desert Redevelopment Agency, as of June 30, 2006, and the respective
changes in financial position thereof for the year then ended in conformity with accountmg principles
generally accepted in the United States of America.
In accordance with Government Auditing Standards, issued by the Comptroller General of the United
States, we have also issued our report dated September 8, 2006, on our consideration of the Paim Desert
Redevelopment Agency's internal control over fmancial reporting and on our tests of its compiiance with
certam provisions of laws, regu�ations, contracts and grants.
The accompanying managemenYs discussion and analysis on peges 5 through 10 is not a required part oi
the basic financial statements but is supplementary infoRnation required by the Governmental Account�ng
Standards Board. \Ne have applied certain limited p�ocedures, which consisted pnncipally of inquines of
management regarding the methods of ineasurement and presentation of the re4u�red supplementary
information. Howe�er, we did not audit the information and express no opirnon on it
7S YE.lRS
1929 2004
D� Fxc�XAe
203 N. Brea Blvd., Su�u 203 • Brea. CA 92821�056 •(714) 672-0022 • Fax (714) 672-0331 • tivww I�1sR�•Cam
�� ,
' Lancc
�Soll 6
Lurx,�ha►d
LLP
Cl�nsi[0+�4rtJC �CCOUMr�MlS
`- To the Honorable Mayor and Members of the Ciry Council
City oi Palm Desert Redevelopment Agency
Our audit was conducted for the purpose of forming opm�ons on the financial statements that collectwely
compnse the Agency's basic financial statements. The combining and individuai nonmajor fund financial
statements and Computation of Low and Moderate Housmg Excess/Surpius Funds are presen►ed for
purposes of addit�onal analysis and are not a required paR of the basic financial statements. Sucn
information has been sub�ected to the auditing procedures applied in the audit of the basic fmanc�al
statements and, in our opinion, is fairly stated in all material respects in relation to the bas�c financ�al
statements taken as a whole.
�,���-� ,��'�
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September 8, 2006
2
�
Lance
So�� &
Lunghard
� LLP
Certified Public Accnuntants
lNDEPENDENT AUDITORS' REPORT
To the Honorable Mayor and Members of the City Council
Palm Desert Redevelopment Agency
Brandoe W.Brrrows
Doesld L. Parker
Mithael K. C6u
David E. Hale
A h�/m4wd G.p�r��
Do�ald C. Slater
RicYud K. KlkYchi
RttiraJ
Roberl C. Laxe
1�141M1
R1cYard C. Soll
Fred J. L�6ard. Jr.
�ui�+++
We have audited the accompanying financial statements of the govemmental activities, each major fund,
and the aggregate remaining fund information of the Palm Desert Redevelopment Agency, a component
unit of the City of Palm Desert, Califomia, as of and for the year ended June 30, 2006, which collectively
comprise the Agency's basic financial statements as listed in the table of contents. These financial
statements are the responsibility of the Palm Desert Redevelopment Agency's management. Our
responsibiliry is to express opinions on these finanaal statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Go�ernment Auditing Starcdards
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall finanaal statement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the govemmental activities, each major fund and the aggregate remaining
fund ir�foRnation of the Palm Desert Redevelopment Agency, as of June 30, 2006, and the respective
changes in financial position thereof for the year then ended in conformiry with accounting prinaples
generally accepted in the United States of America.
In accordance with Govemment Auditing Standards, issued by the Comptroller General of the United
States, we have also issued our report dated September 8, 2006, on our consideratfon of the Palm Desert
Redevelopment Agency's internal contrd over finanaal reporting and on our tests of its compliance with
certain provisions of laws, regulations, conVacts and grants.
The accompanying management's discussion and analysis on pages 5 through 10 is not a required part of
the basic financial statements but is supplementary information requfred by the Govemmental Accounting
Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of
management regarding the methods of ineasurement and presentation of the required supplementary
information. However, we did not audit the i�ortnation and express no opinion on it.
75 YEARS
1929 2004
O� F�r��exce
203 N. Brca Blvd., Suite 203 � Brc�, CA 92821-4056 •('l14) 672-0022 • Faz (714) 672-0331 • bcmY.LilCpls.soII1
� .
..
Lance
Soll 6
Lurghad
LLP
C[PTI/RO fU1lC �OCdiMAMiS
�- To the Honorable Mayor and Members of the Ciry Council
City of Palm Desert Redevelopment Agency
Page 2
The results of our tests disclosed no instances of noncompliance tfiat are required to be reporled under
Gouernment Auditing Standards issued by the Comptroller General of the United States.
This report �s �niended solely for the information of the audit committee, management and the State
Contro►ler. However, this report is a matter of public record and its distribution is not limited.
�,���� ,���
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September 8, 2006
._..
4
ClTY OF PALM DESERT
MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis ot the Pa{m Desert Redevefopment Agency's (Agency) financial performance
for the fiscal year ended June 30, 2006, provides a cornparison of current year to prior year ending results
based on the government-wide statements, an analysis on the Agency's overall financial position and
resuits of operat�ons to ass�st users in evaluating the Age�cy's financial position, and a discussion of
significant changes that occurred in funds. In addition, it describes the activities dunng the year for capital
assets and long-teRn debl. We end our discussion and anaiysis with a description of currently known
facts, dec�sions and condit�ons that are expected to have a significant effect on the financial posiGon or
resuits of operations. Please read it in con�unctlon with the Agenc�s financial statements.
FINANCIAL HIGHLIGHTS
The Agency's governmental activit�es net assets deficit decreased 515.11 million, or 30.73
percent.
During the year, tne Agency had revenues that were 514.98 million more than the $72.17 million
in expenses recorded by the Agency m its governmental activities.
The Agency's govemmental activities program revenues and general revenues increased S15.58
million, or 21.76 percent from the pr�or year, and program expenses increased 57.97 m�llion, or
12.41 percent.
USING THIS ANNUAL REPORT
This annual report consists of a series of financiai statements. The Statement of Net Assets and
Statement of Act�vities (on pages 11 and 12) provide information about the activities of the Agency as a
whole and present a long-term view of the Agency's finances. Fund financial statements start on page 14.
`'" For governmenta� activities, these tund statements tell how these services were financed in the short term
as well as what remains for future spending. Fund financiai statements also report the Agency's operation
in more detaii than the government-wide statements by providing information about the Agencys most
significant funds as well as the other funds.
REPORTING THE AGENCY AS A WHOLE
The Stat�ment of Net Assets and the Statement of Activities:
Our analysis of the Agency as a whole begins on page 11. One of the most important questions asked
about the Agency's finances is, "Is the Agency as a whole better off or worse off as a result of the year's
activities7" The Statement of Net Assets and the Statement of Activities �eport i�foRnation about the
Agency as a whole and about Its activities in a way to answer this question. These statements include all
assets and liabilities of 1he Agency using the accruel basis o/ accountinQ, which is similar to the
accounting used by most private-sector companies. Al� of the current year's revenues and expenses a�e
taken into account regardless of when cash is received or paid.
These two statements report the Agency's net assets and changes in them. Net assets are the d►fference
between assets and IiablUties, which is one way to measure the Agency's financiel health, or irnancia!
posltion. Ovar time, increases or decresses in the Agency's �et assets are an indication of whether its
�nancial heafth is improving or deterioreting.
In the Staiement of Net Assets and the Statement of Activlties, we separate the Agency mto general
govemment, apartment complexes, public works, paymants to other agencies and rnterest on long-term
debt
5
�
REPORTING THE AGENCY'S MOST SIGNiFICANT FUNDS
Fund Financial Statements:
The fund financial statements provide detailed �nformation about the most signfficant funds and other
funds - not the Agency as a whole. Some funds are required to be established by State law and by bond
covenants. However, management established many other funds to help ft controi and manage money for
part�cular purposes or to show that it is meeting legal responsibilities for using certain taxes, grants and
other resources. The Agency only has govemmental type funds
Governmental Funds - Most of the Agency's basic services are reported in governmentai funds, which
focus on how money flows m and out of those funds and the balances left at year-end that are avaiiable
for spendmg. These funds are reported using the modi�ed accrual basis of accounting, which measures
cash and ali other financra/ assets that can readily be convened to cash. The govemmentai fund
statements provide a detailed short-term view of the Agency's generai govemment operations and the
basic services it provides Govemmental fund information helps determine whether there are more or
fewer financiai resources that can be spent in the near future io finance the Agencys programs. The
differences of results in the Governmental Fund finencial statements to those in the Government-Wide
financial statements are explained in a reconciliation following each Governmental Fund financial
statement.
THE AGENCY AS A WHOLE
The Agency's net assets deficlt decreased 515.11 million from $(49.17) million to S(34.06) miltion. Our
analys�s below focuses on the net def�cit (Table 1) and changes in net def�cit (Table 2) of the Agency's
govemmental activities.
TABLE �
`
NET ASSETS
(IN MILLIONS)
As of June 30, 2006 and 2005
Current and resvicted assets
Capitel assets
TOTAL ASSETS
Long-term liabililies outstanding
Other liabilities
TOTAL LIABILITIES
Net assets (deficft):
Invested in capltal assets, net of
related debt
Restricted
Unrestricted
TOTAL NET ASSETS (DEFICIT)
Governmental Activities
2006 2005
$ 167.82 3 157.99
125.63 108.79
293.45
279.34
48.17
327.51
34.07
(68.13)
$ (34.06)
266.78
264.99
30.96
315.95
12.47
41.19
(102.83)
$ (49.17)
-- Compared to the prior year, net assets de�cit of the Agency's governmental activifies decreased by
515.1 � mill�on. The Agency's Net Assets is made up of three components: Investment in Capital Assets,
Net of Related Debt, Restricted Net Assets and Unrestricted Net Deficit. Unrestncted deficit, the part of
net aeficit that can be used to finance day-to-day operations, decreased from S(102.83) million to
$(68.13) miliion, or 33.74 percent. The Agency currenriy has an unrestricted net deficit because of the
debt �t has �ssued. Proceeds from the debt were used for capital improvements on behalf of the City or
contributed to developers and �s not offset by investments in capitaf assets.
The ma�or change in the Agency's govemmental activities total assets vwas from capital assets, which
increased due to the purchase of land and buildings, and construction of vanous projects.
Total liabilit�es mcreased by 511.56 million, the major contributor to the mcrease is the Iiabllities that the
Age�cy has to pass-through agreements. That liab(lity alone increased by 513.76 million from the pnor
year.
TABLE 2
CHANGES IN NET ASSETS
(IN MILLIONS)
As of June 30, 2006 and 20Q5
REVENUES:
Program Revenues:
CharBes for serv+ces
General Revenues:
Tax increment
Other income
Investment earnings
TOTALREVENUES
EXPENSES:
General govemment
Apartmenl complexes
Public works
Payments to other agencies
Interest on long-term debt
TOTALEXPENSES
INCREASE (DECREASE) IN NET
ASSETS
BEGiNNfNG NET ASSETS
RESTATEMENT �F NET ASSETS
ENDING NEf ASSETS
�
Govemmentai Activities
2006 2005
� 4.97
77.02
1.45
3.71
87.15
$ 4.68
62.01
2.14
2.74
71.57
7.49
6.90
6.75
36.84
14.19
72.17
14.98
(49.17)
0.13
S (34.06)
8.09
6.95
5.09
30.19
13.88
64.20
7.37
(55.62)
(0.92 )
S �49.17)
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_—,
Governmental Activities
Total revenues incxeased from 571.57 mlllion to 587.15 mil(ion, a 21.76 percent increase. The major factor
that contributed to the increase was the foltowmg:
• Increase in property values provided additionai tax increment.
The following schedule represents the net cost of provid�ng services.
Genera� Governmeni
Apartment Complexes
Public Works
Payment to Other Agencies
Interest on Long-Term Debt
70TAL
THE AGENCY'S FUNOS
Government Activities
Net (Expense) Revenue
(In Millions)
2006 2005
$ (7 49) S (8.09)
(1.93) (2.27)
(6.75) (5.09}
(36.84) {30.19)
(14.19) (13.88)
$ (67.20) S (59.52)
On pages 14 and 15, the govemmental funds balance sheet is shown. The combmed fund'baiance of
5117.94 m'r�lion decreased irom 5125.21 million, or 5.83 perceni. The Agency has reserved 5 6424 mill�on
'� for encumbrances, contmuing appropnations, loans and notes, debt service, e1c. More deteiled
information about the combined fund balance reserves is presented in Note 11 to the financial statements.
Major funds bafance changes are noted below:
• For the Low and Moderate Income Housing fund, fund balance decreased due to the increase in
capital projects for low-income housing.
• For the Redevelopment Agency Financing Authority Debt Service fund, fund balance decreesed
due to the interest and prmcipa� payment �f debt.
� The Redevelopment Agency Pro�ect Area 1, and 4 Debt Service funds, fund balance increased as
a result of an increase in tax increment.
• The Redevelopment Agency Project Area 2 Debt Service fund, fund balance decreased due to the
interest and principal payment of debt.
In addition to the major funds, fund balances of other govemmental funds had significant changes The
Housing Authority Special Revenue fund had a decrease of 51.9 million from the prior year. This was due
to capital expendftures for the improvement of the apartment complexes. Project Area � and 4 capital
projecl fund balances decreased due 10 capital projects expenditures. More detaited information on the
fund financial statements balances is presented in the notes to the financial statements
�.
Budgetary High{i9hts
During t�e year, with ihe recommendation from 1he Agency's staff, the Agency's Board revised the Agency
budget several times. Adjustments were made on a monthly basis as the Agenc�s steff requested
additional appropriations to cover the cost of projects that either had change orders for addltional waic, or
the estimated cost at the beginning of the project was under estimated. At mid-year, adjustments were
made as department heads requested increases or decreases to the�r budgets to maintam the�r current
level of services. At year-end, budgets were adjusted for unenticipated expenditures. The Agency's Board
approves all amendments that either increase o� decrease appropriations.
Formai budgetary integration is employed as a management control device during the year for the speciai
revenue and capita! project funds. Budgetary data for the special revenue and capital projects funds are
not presented herein, as the budgets for these funds are long-term in nature. More detailed informat�on
about the Agency's uudget is presented in IJote �(g)10 the fmancial statements.
CAPiTAL �4SS�T AfVD DE87 ADMINISTRA710N
Capital Assets
At the end of 2006, the Agency had �125.63 million invested m a broad range of capital assets, including
land, bu�idings and improvements, apartment complexes, vehicles and equipment (See Table 3) This
amount represents a net increase (mcludmg additions and deductions) of 5�6.84 rnillion, or 15.48 percent
over last year.
TABLE 3
CAPITAL ASSETS AT YEAR-END
(NET OF DEPRECIATION, IN MILLIONS)
0
For the Years Ended June 30, 2006 and 2005
Lanq
Construction in progress
Buildings and improvements
Equipment
70TAL
This year's major additions included (in millions):
{..and acquisifion for open space and for development of low
income housing,
Property acquisition for low incorrie housing
Construdion in progrpss for Falcon CresULa Rocca Vllas
ConsUuction in progress for Pafm Vllage Apartmerits
Govemmente� Activities
2006 2005
$ 50.68
26.65
48.27
0.03
a 125.63
49.89
16.73
42.13
0.04
S 108.79
S
1.11
4.63
6.23
3.94
15.91
E
" The Agency's fiscal year 2007 capital budget calls for it to spend 570.03 million plus continuing projects of
$34.78 million. The majority being the reimbursement to other governments for capital projects, land
development, construction of a regional park, construction of low-income famify housing, and the
undergrounding of utilities. More detalled information about the Agency's capital assets is presentec� in
Note 1(d) and Note 6 to the financial statements.
Debt
At year-end, ihe Apency's govemmental act�vities had $279.34 million in bonds and notes versus 5284.99
miltion last year, a decrease of $5.65 million, or 1.98 percent as shown m Tabte 4.
TABLE 4
OUTSTANDING DEBT AT YEAR END
(IN MILLIONS)
For the Years Ended June 30, 2006 and 2005
Governmental Activities
2006 2005
Notes payable S 0.74 S 0.86
Advances 32.79 32.79
Revenue bonds and notes (backed by
specif�c tax and fee revenues� 245.81 25t.3a
TOTALS
279.34 S 284.99
�` The Agency was able to meet its current year debt obligation in a timely manner. Debts issued m the prior
year have been used to �nance various capital projects. An exemple of this woulti be the purchase of
land, and construction of the Cit�s gotf course.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS
In preparing the budget for 2007, management looked at the following economic factors:
In pnor years, the City had unallocated reserves in its capital projects and special revenue funds
that could be used to start and complete Agenc�s pro�ects in an effo�t to maximize the Agencys
cash flow. In the five-year capitel improvement program, all restricted capital funds for the City
have been allocated to various projects Any additional p�ojacts woutd require that the Agency
fund their own projects.
tssue of new bonds for capitai pro�ects.
The City of Palm Desert continues to grow wlth new hotels, commercial and residential development,
construction of a four-year universiry, street improvements, park consvuction, and various other
improvement projects. 7he 2007 capital improvement project budget is a reflection of the Agency's
commitment to the residents of Palm Desert. A copy of the City's 2006-2007 �nancial plan can be
obtained by contacting the City Finance Department (See below).
CONTACTING THE AGENCY'S FINANCIAL MANAGEMENT
Tnis financial report is designed to provide our citi�ens, taxpayers, customers, and investors and creditors
with a eeneral overview of the Agencys finances a�d to show the Agency's accountabillry fo� the money i1
receives. If you have questions about this report or need addltlonal financial infoRnat�on, contact the Citys
Finance Department at the Clty of Palm Desert, 73-510 Fred Waring Drive, Palm Desert, Califomia
92260-2578, or (760) 346-0611.
90
�
PALM DESERT REDEVELOPMENT AGENCY
STATEMENT OF NET ASSETS
JUNE 30, 2006
Assets:
Cash and investments
Recervables
Property held for resaie
Prepaid items and deposds
Deferred charges
Restncted assets:
Cash with fiscal agent
Capital assets (net of accumulated depreaation)
Total AssQts
Liabilitiss:
Accounts payable
Accrued liabilities •
Interest payable
Deposits payable
Uneamed revenue
Amounts due under pass-through agreements
Noncurrent liabilities:
Due within one year
Due in more than one year
Total Liabtlities
Net Acsets:
Invested in capital assets, net of related debt
Restricted for:
Speciai Projects
Unrestricted (defcit)
iota? Net Assets
Exh(bit A
Governmental
Activities
3 120,959.997
12,179,047
25,000
6,599,764
4,833,860
23.222,551
125.628,852
S 293,449,071
S 6,525,242
144,710
3,295,276
328,503
92,487
37 ,T82,479
5,937,707
273,403,322
S 327,509,726
S -
34,067.671
(68,128.326)
S (34,060,655)
See Notes to Financial Statements
11
PALM DESERT REDEVELOPMENT AGENCY
� STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2006
Functfons/Programa
Primary Govammant:
Governmcntal Activities:
General administration
Apartment complexes
Public works
payments to other agencies
Interest on lonp-term debt
Total Primary
Government
�
Expenses
Exhibtt B
Net(Expense)
Revenue and
Changea irt
Propram Revenues Not Assets
Operatinp Capital
Charges for Grants and Grants and Governmental
Services Contributions Contributions Activitfes
$ 7,d94,133 5 - S
6,895,326 4,970,800
6.747,841 -
36,844,062 -
5�4,189,570 -
S 72,170,932 S 4,970,800 S
General Revenues:
Taxes:
Tax increment
Rental income
Gain (loss) on sale of land
Other revenues
Investment earnings
Total Gencral Revanues
Change in Net Assets
- $ - S (7,494,133)
- - (1.924.526)
- - (6,747,841 }
- - (36.844,062)
- - (14,189,570)
�j
Net Assets - Beginnmg of Year, as originally reported
Restatement
Net Assets - Beginning of Year, as restated
Change in Net Assets
N�t Ass�ts - End of Year
- (67,200,132)
77.023,990
4,776
750,989
689.122
3,712,683
82,181,560
14,981,426
(49,167,545)
125,462
(49,042,083�
14,981,428
S (34,o60,s55)
See Notes to Financial Statements
12
�
THIS PAGE INTENTIONALLY LEFT BLANK
13
�,
a
PALM DESERT REDEVELOPMENT AGENCY
�
BALANCE SHEET - GOVERNMENTAL FUNDS
JUNE 30, 2006
Debt Service Funds
._
Assets:
Cash and �nvestmenu
Cash w�th fiscai agent - restricted
Receivables
Due from other govemmenta� agenc�es
Property held for resale
Prepaid costs and deposits
Due from other apartment
Total Assets
Liabilities and Fund Balances:
Lfabilities:
Accounts payable
Accruad liabilities
Deposits payable
Deferred revenue
Uneamed revenue
Due to other apartment
Amounts due - pass-through agreement
Total Lfabilities
Fund Balances:
Reserved
Unreserved
Total Fund Balanc�s
Totat Liabilities and Fund Balances
Low and
Moderate
Income
Housing
3 2�.449,742
1,049,449
7.947.032
10,000
25.000
4,009
S 30,485,232
• S 1,527,492
12,523
205,127
2,136
1,747,2T8
24,600,407
4,137,547
28,737,954
S 30,485,232
Project
Area 1
$ 52,345,836
466,756
3,033
S 52,815,625
22,926,674
22,926,674
3,033
29,885.918
29,888,951
S 52,815,625
See Notes to Financial Statments
Pro)ect
Are� 2
S 10,423,601
85,499
2.275
S 10,511,375
2,306.751
2,306,751
2,275
8.202.349
a,zoa,ssa
t 10,511,375
Project
Area 4
$ 12,668,867
169,798
1,517
S 12,840,182
11,113.690
11,113,490
1.517
1.724.775
1,726.292
s �z,aaa,�az
14
Exhibtt C
0
Debt Service
Funds
Financing
Authoriry
$ -
1,161,062
5.339
S 1,166,401
S 6,591
6,591
Oth�r
Governmental
Fundc
S 24,071.951
21,012.040
3,494.623
6,588.930
2.823.759
= 57,991,303
s 4,991,159
132.187
328,503
90,351
2,823,759
1,435,164
9,801,123
Total
Governmental
Funds
S 120,959,997
23,222.551
12,169.047
10,000
25,000
6.599.764
2,823,759
i 165,a10,118
$ 6,525,242
144,710
328,503
205,127
92,487
2.823,759
37,782,479
47,902,307
6fi4,890 38,966,351
494,920 9,223.829
1.159,810 48,190,180
S 1,166,401 S 57,991,303
64,238,473
53,669.338
117,�07,611
S 165,a10111e
Sse Not�s to Financial Statments
15
ti
`
m
PALM DESERT REDEVELOPMENT AGENCY
RECONCILIATION OF GOVERNMENTAL FUNDS BALANCE &HEET
TO THE STATEMENT OF NET ASSETS
June 30, 2006
Exhibit D
Total fund balance for governmental funds
Amounts reported for govemmentai activities in the statement of net assets are different because:
When capital assets (land, buildmgs, equipment) that are to be used in governmentat activ�ties are
purchased or constructed, the costs of those assets are reported as expenditures in govemmental
funds However, the statement of net assets inc�udes thase capitet assets asr�ong the assets ot
the Agency as a whole:
S 117,907,811
8eginnmg Belance, net depreciation $ �08.790,40�
prior Period Adjustment 125,462
Gurrent year additions 20,812,938
Current year deletions (2,406,807)
Current year depreciation (1,693,142)
Ending Balance, net depreciat�on S 125,628,852 125,628.852
�
�
Long-term liabilit�es appl�cable to the Agency's govemmental activities are not due and payable m (279,341.029)
the current penod and, eccordingly, are not reported as fund liabilities. All liabilities, both current
and long-term, are reported in 1he statemeni of net essets.
Interest on long-term debt is not accrued in governmental funds, but rathe� is recognized as an
exqenditure when due.
tnterest earned but not received within the avaiiabllity period
The cost of �sswng bonds is recognized as an expenditure in the period paid, however,
in the statement of net assets, it is amortized over the life of the bonds.
Nat assets of governmentel activltles
See Notes to Financial Statements
(3,295,276)
205,127
4.833,860
S (34,060,655)
16
�
THIS PAGE INTENTIONALLY LEFT BLANK
17
� PALM DESERT REDEVELOPMENT AGENCY
STATEMEN'T OF REVENISES, �XP�KU{'TURES AND CHANGES iN FUND BALANCES
GOVERNMENI'AL FUND TYPES
FOR THE YEAR ENDED JUNE 30, 2006
Specfal
� Revenue
Fund Debt S�rvice Funds
Low and
Moderote
`-
Revenues:
Taxes
Investment earnings
Rental eam�ngs
Other reven�es
Total Revenues
Expenditures:
Current:
General govemment
Payments to other agencies
Public works
Capital outlay
Debt service:
Interest and fsCal charges
Prinapai retirement
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financlny Sources (Uses):
Transfers out to the City of Paim Desert
Sate of property
Transfers in
Transfers out
Totaf �ther Financinp Sauress �11sas)
Excess of Revenues and
Other Financing Sources
Over (Unaer) Expenditures
and Other Financing Uses
Fund Balances - Beginning of Year
Fund Balances - End of Year
Income ProJect ProJect Project
Housing Area 1 Araa 2 Arsa 4
3 - S 45,766,926 $ 15,218,315 S 12,596.183
713.051 884,256 317,721 88,489
4,776 - - -
142,323 489,548 - -
860,150 47,140,730 15,536,036 12,684,672
2,688.441
15,347.719
18,036,160
(17,176,010)
16,663
20,624,510
785,897
21,427,070
25.713.660
8,983
6.944,013
808,086
122,707
T,8a3,7a9
7.652.247
4,967
7.373,165
7.378,132
5.306,540
487,796 - - -
15,966,617 683 1 -
(4,549.247) (23,064,424) (8,958,529) (5,093,756)
91,905,'166 (23,063,541) (B,958,528) (5,093,756)
55,270,844) 2,650,119 (1.306,281) 212,784
34.008,798 27.238.832 9,5�0,905 1,513,508
S 28,73T,Q54 S 29,858,959 S 8,204,624 s 9.726,292
See Notes to Fianancial Statements
18
Exhibit E
1
Debt Sarvice
Funds
Financing
Authority
3 -
42.841
42,841
12.409,966
5,485,000
17,894,966
(17,852,125)
17,339.978
(971)
17,339,007
Other
Governmental
Funds
S 3,442,566
1.817,287
4,622.306
178,030
10,060,1 a9
9.962.682
1,902.374
6,747.841
5,465,219
68,623
24,146,939
(14,086,750)
(14,381)
Z.s�o,000
15,742,488
(7,383.040)
11,015,067
(513,118) (3.071.683)
1,672.928 51.26'1.663
S_1,159,8'f 0 3 48�190,1 SO
Total
Governmental
Funds
S 77,023,990
3.863.645
4,627,082
809.901
86,324,618
12.68 � ,936
36.844,062
6.747,841
20.812,938
� a,072.572
5,607,707
96,767,056
(10,442,438)
(14,381)
3.157.796
49.049,967
(49.049.967)
3,143,415
(7,299,023)
125,206.834
S 117,907,a11
See Notes to Fianancial Statements
19
�
PALM DESERT REDEVELOPMENT AGENCY Exhibit F
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
June 30, 2006
�
Net change in fund balances - total governmental funds
Amounts reported for govemmental activit�es in the statement of activities are different because:
Governmental funds report capitai outlays as expenditures: however, in the statement of
activ�ties the costs of those assets are allocated over their estimated useful lives as
depreciat�on expense This is the amount by which capitai additions/deletions ($23,219,745)
exceeded aepreciation (51,693,�42) in the current period.
Repayment of long-term debt is reported as expenditures in governmental funds and, thus, has
the effect of reducmg fund balence because current financial resources have been used. For the
Agency as a whole, however, the principal payments reduce the fiabilities in the statement of
net assets and tlo not result in an expense m the statement of actNities
Some expenses reported in the statement of activities do not require the use of current finencial
resources and, therefore, are not reported as expenditures in governmentai funds:
Net change in accrued interest for the current period.
The cost of issuing bonds is recognized as an expenditure in the period paid, however,
m the statement of net assets, it is amortized over the life of the bonds.
Revenue wfll not be collected within 60 days of the Citys fiscal year end and,
therefore, are not considered available in the governmental funds:
Interest not received on development disposition agreement
Change In net assets of gov�mmental activities
S (7,299,023)
16,712,989
5,607,707
96,888
(213.886)
76.753
S 14,981,42E
See Notea to Financial Stat�m�ntc
20
�
PALM DESERT REDEVELOPMENT AGENCY
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2006
I. SIGNIFICANT ACCOUNTING POLICIES
Note 1: Summary of Significant Accounting Policfes
a. Basfs of Presentstion
Govemment-Wide Finencial Statements
The government-wide financial statements (i.e., the statement of net assets and the
statement of act�vities) report informat�on on all of the actwfties of the Agency. For the
most part, the effect of mterfund actNity has been removed frorn these statements.
Govemmental activities, whicn normally are supported by texes and intergovem-
mental revenues, are reported separately from business-rype activities, which rely to
a sign'rficant extent on fees and charges for support. The Palm Desert Redeveiop-
ment Agency has no business-cype activit�es.
�
The statement of activities demanstrates the degree to which the direct expenses of e
given function or segment are offset by program revenues. DireGt expenses are those
that are clearly identifiable with a specific function or segment. Program revenues
include: 1) charges to customers or applicants who purchase, use or directly benefit
from goods, services or privileges provided by a given function or seQment, and
2) grants and contributions th�t are restricted to meetmg the operet�onal or capitai
requirements of a particular function or segment. Taxes and otf'ier items not properly
included among program revenues are reported �nstead as general revenues.
Separale financial statements are provlded for the govemmental funds. Ma�or
individual govemmental funds are reported as separate columns in the fund financial
statements.
Fund Financial Statements
The accounting system of the Agency is organized and operated on the basis of
separate funds, each of which is cons�dered to be a separate aCcounting entity. Each
fund is accounted for by providing a separate set of self-balancing accouats that
constitute its assets, liablllties, fund equity, revenues and expend(tures. An emphasis
is placed on major funds within the govemmental category. A fund is considered
major ff total assets, {iabilities, revenues or expenditures of that individual
govemmental fund ere at ieast 10°% of the cor�esponding tote� for all funds of that
category or type.
The funds of the Agency are described below�
Governmental Fund Types
S�eciai Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue resources (other than major capital projects) that
are legally restricted to expenditures for specified purposes.
0
21
Palm Desert Redevelopment Aqency
Notes to Financial Statements (Continued)
� Note 1: Summary of Siqnificant Accounting Policies (Continued)
Debt Service Funds - Debt Service Funds are used to account for the
accumulation of resources for, and the payment of, general long-term obligat�on
principal, interest and related costs.
Ca�ital Proiects Funds - Capitai Projects Funds are used to account for financial
resources to be used for the acquisition or construction oi ma�or capitai facilities.
The Agency's major govemmental funds ere as follows:
The Low and Moderate Income Housinq Snec�al Revenue Fund is used to
account for the tax increment set-aside to be spent on pro�ects that benefit low
and moderate-income families.
Proiect Area 1 Debt Service Fund is used to accouni for the tax mcrement
revenues and expenditures of Project Area 1.
Proiect Area 2 Debt $ervice Fund is used to account for tax increment revenues
and expenditures of Project Area 2.
Proiect Area 4 Debt Service Fund is used to account for tax increment revenues
and expenditures of Project Area 4.
The Financinq AuthoritV Debt Service Fund is used to account for the resources
and payment of the debt issued by the Paim �esert Financing Authonty and
loaned to the Redevelopment Agency.
.`
b. Meaturament Focus and Basis of Accountiny
Measurement Focus
Measurement focus is a term used to describe "which" transactions are recorded
within the various financial statements. Basis of eccounting refers to 'wvhen"
transactions are recorded regardless�of the measurement focus applied.
On the govemment-wide staternent of net assets and the statement of activities,
activities are presented usmg the economic resources measurement focus. Under the
economic resources measurement focus, all (both current and long-term) economic
resources and obligations of the govemmen! are reported.
In the fund financial statements, all govemmental funds are accounled for on a
spending or "Financial floW measurement focus, This means that only cuRent assets
and current liabillties are generally included on their balance sheets. Their reported
fund balances (net current assets) are considered a measure of "available spendable
resources.` Governmentel fund operating statements present increases (revenues
and other financing sources) and decreases (expenditures and other f�nancing uses)
in net current essets.
22
Palm Dasert Redevolopment Agoncy
Notes to Financial Statements (Continued)
�
Note 1: Summary of Significant Accountin� Policias (Continued)
Noncurrent port�ons of long-term receivables due to govemmental funds are reported
on their balance sheets, in spite of their spending measurement focus. Speciai
reporting treatments are used to �ndicate, however, that they should not be
considered "available spendable resources" since they do not represent net current
assets. Noncurrent portions of long-term receivab�es are offset by fund ba�ance
reserve accounts.
Basis of Accounting
In the govemment-wide statement of net assets and statement of activities, the
gavemmentai activities are presented using the accrual basis of accounting. Under
the accrual basis of accounting, revenues are recognized when earned and expenses
are recorded when the liability is incurred or economfc asset used. Revenues.
expenses, gams, losses, assets and liabilities resulting from exchange end exchange-
like transactions are recognized when the exchange takes place.
In the fund financial statements, govemmental funds are presented on the modified
accrual basis of accounting. Under this modified accrual basis of accounting,
revenues are recognized when "measurab�e and available.` Measurable means
knowing or being able to reasonably estimete the amount. Available means collectible
within the current period or soon enough thereafter to �ay curcent liabilities.
Expendltures generally are recorded when a liabiliry is incurred, as under accruel
accounting. However, debt serv�ce expenditures are recorded only when payrnent is
due.
Revenues that are susceptibie to accrual include property taxes that are levied for
_ and due for the fiscal year and collected within 60 days afler year�nd. Property
taxes, rents and mterest associated wfth the current fiscal period are all considered to
be susceptible to accrual and so have been recognized as revenues of the current
fiscal period. All other revenue items ere considered to be measurable and available
only when cash is received by the government.
23
�
m
Palm Desert RedevelopmQnt Ag�ncy
Notes to Financial Statements (Continued)
�..
Note 1: Summary of Siynificant Accounting Policies (Contlnued}
c. Differences between Govemment-Wide Financfal Statements and Fund �mancial
Statements:
Explanation of differences between Govemmental Funds Salance Sheets and the
Statement of Net Assets:
�
Assets:
Casn and investrnents
Casn with fisca! agent
Receivables
PropBRy held for ��e
Due from other aparUr�ent
Prepaid items and daposrts
Deferred charges
Capital assets
Total Pssets
LiabiliUes:
Accounts payable
Ac,cnied habllities
Interest payable
Depaslts payable
Deferred revenue
Uneamed revenue
Due to other apartment
Arnounts due unckr
Pass-Uxough apreemenLs
Long-tertn IiaWliGes - current
Lon�term fiabllf�� -
noncurtent
Total Liabil'�les
Net ftssets (Deficit)
Total
Govemmenial
Funds
120,959,997 S
23,222,551
12.179,047
25.000
2.823,759
6,599,764
165.810,118
6,525,242
144,710
328,503
205,127
92,487
2,823,759
Long-Term Debt ReGassifi-
Capitai Transaationsl cations Statement
Related Interest ar�d of Net
Items Payable Elimnations Assets
- S
125,628.852
125,628.852
- S - S 120.959,997
- - 23.222.551
- - 12.179,047
- - 25,000
- (2.823,759) -
- • 6.599,764
4,833,860 - 4,833,860
- - 125,628.852
4.833.680 (2,823,759) 293.449,071
- - - 6,525.242
- - - 144,710
- 3,295,276 - 3,295.276
- - - 328,503
- - (205,127) -
92,487
- - (2.823.759} -
37,782,479 - - - 37,782,479
- - 5,937,707 - 5,937,707
- - 273.403,322 - 273,403,3?2
47,902,307 - 282.636,3Q5 (3,028,886) 327,509,726
S 117,907,811 S 125,628.852 S(277,802,445) S 205.127 S(34.060,655)
24
Palm Desert Redevelopment Agency
Notes to Financial Statements (Continued)
� Note 1: Summary of Signlflcant Accounting Policies (Continued)
Exp►anation of differences between Govemmental Funds Operating Staternents end the
Statement of Activities:
Lorq-T�rtn
Debt
Totai Gdy� ��a�s�d�o�d
Gov�mm��ul RMN�q �msreat
Funtls Item� Payabi�
as
Cot� o� Redass-
�uu�nu H�cabon: St�tems�t
Acuu�C Grn o1 dpfr an0 d
mteh�� p�m+ �rrwunt E1Rrnnauonc ActmUu
Revenuer
T„�.� s n.oss.9co s • s � s - s - s - s n.ozs.c�o
I�vestment �arrnnps 3.dC3.645 - - • 1�S0.oE2) �.712.683
R�n41 m�ome 4,627.082 • - - • 14.622.306) 4.776
Aparvnent oomPkxa+ - - • - - 4.970.800 �.970.800
O�ro� mcony 009,90� . _ . 1�2G n9) be9.�2?
laut R�v�n�es 86.J2s.E1E • - • • 76 73J a6 �0�.37�
Exo�ntliw�es
Curnnt
Ganerai poremmN+t 12.6E7.936 (5.?02,'I841 - • - �4.34� 7,4W.13�
Payment to ofie� apMast 36.E41.062 • • - • 98.844.062
�p�rtment compisxs� • 6,605.326 • - - • 6.895.326
pud�c wonu 6.747,641 - - - • 6,747,Nt
GDt��OUtley 20.E12.03E (20.E�2.938) • • - - • -
D�Dt f�MG -
intereft �n0 f�sul Uarpei 14.072,572 - (36.771) ID0.1 t7) 213 EE6 - 14.180.570
Pnnapn retuertrnt 5.607.707 • (5.607.707) - - -
ion�E�rditunc fl�.7E7.OS6 (10.119.7oE) (5.E44.17E) (D0.117) 2�3.EE6 t4.SE1 72.�700.12
OVrr Fnanunq Souras (usa)
SaK of p.openy 3.167.796 (2,406.807) • • • • 750.GIG
Trurf�rs in t►or►1 CRy - • - . . . -
Tran�en out b Clty (�4,3Ci) • • • - 14.SE� -
Trsnsh�s In 49.049A67 - - - - (49 049.967) -
Tnrnfsrs an (4G.04fl.�7) . . . - 4G.049.9C7 -
Tota� 01he� Fi��nanp 3.�43.415 (2.�108.a07) • - - �4,3E� 750.069
Nst C�wp� m Fund Bai�na i (7.2G�.023) S 18.712.98o S 5.644.176 i 60.117 f(2�3.886� i 76,753 S �4.C61.42�
�� . _ _ . --- — , .. . _
d. Capital Assets and Deprecfation
Capital assets ere reported in the government•wide tinancia� statements. Capital assets
are defined by the Agency as assets with an initfal cost of more than 5500 and an
estimated life in excess of one year. Such assets are recordad at histoncal cost or
estimated historical cost if purchased or constructed. Donated capital assets are recorded
at estlmated fair market value at the date of donation. The Agency had no infrastructure
assets.
The cost of normal maintenance ana repairs that do not add to the value of the asset or
matenally extend asset lives are not capltalized.
25
� .
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Palm Desert Radevelopment Agency
Notes to Financial Statements (Continued)
�
Note 1: Summary of Significant Accounting Policies (Continued)
Property, plani and equipment are depreciated using the straight-Iine method over the
following estimated useful lives:
As sets
Years
Buildings 40
Improvements other than buildings 20
Machinery and equipment 5- 8
e. Lonp-T�rm Oblipations
In the govemment-wide financial staternents, long-term debt and other long-term
obligations are reported as liabilit�es. Bond premiums and discounts, as well as issuance
cosls, are deferred and amortized over the life of the bonds using the effective inte�est
method. Bonds payabie are reported net of the applicable bond premium or discount.
Bond �ssuance costs are reported as deferred charges and amorti2ed over the term of the
related debt.
In the fund financial statements, govemmental fund rypes recognize bond premiums and
discounts, as well as bond issuance costs, durmg the current per;od. The face amount of
debt issued is reported as other financing sources. Premiums received on debt issuances
are reported as other financing sources while discounts on debt lssuances are reported
as other financing uses. Issuance costs, whether or not withheld from the actuai debt
proceeds recerved, are reported as debt service expend�tures.
� f. Fund Equlty
In tne fund financiai stetements, governmental funds report reservations of fund balance
for amounts that are not available for appropriation or are legally restricted by outs�de
parties for use for a specific purpose. Designations of fund balance represent tentative
management plans that ere sub}ect to change.
q. Budgetary Accounting
The Agency uses the foliowing procedures in establ�shing its budgetary data reported in
the financial statements:
1. Bafore the beginning of the fiscal year, the Executive Director submits to the Board of
Directors e proposed budget for the year commencing the following July 1.
2. Public heerings are conducted to obtain taxpayer comments.
3. The Budget is subsequenUy adopted through passage of a resolution.
4. Original appropriations are modified by supplementary appropriations and transfers
among budget categories. The Board approves all s�gnificant changes. Annual
appropriations lapse at year-end.
5. Encumbrances and Continuing Appropriations are rebudgeted as of July 1 by Board
aciion. They are reported as reservat�ons of fund balance in the fund-level financial
statements.
0
0
Palm Desert Red�velopment Ap�ncy
Notes to Financfal Statements (Continued)
�..
Note 1: Summary of Siynfiicant Accountinp Polfcies (Contlnued)
6. Formal budgetary integration �s employed as e management control device during the
year for the Special Revenue and Capital Pro�ects Funds. Formal budgetary
integration is not empioyed for Debt Service funds because effective budgetary
cont�ol is alte�natively echieved through debt indenture provisions.
7. Budgets are adopted on a basis consistent with accounting principles generally
accepted in the United States of America. Budgetary data for the Special Revenue
Funds and Capital Projects Funds are not presented herein, as the budgets for these
funds are long-term in nature.
h. Investm�nts
Investments are stated at fair value (quoted market price or the best available es6mate
thereo�.
i. Property Held for Resale
The Agency purchased land within the Agency's pro�ect area. The land held for resale is
recorded in the Redevelopment Agency Spec�al Revenue Fund as property heid for
resale, at the lower of acquisilion cost or net realizable value. At June 30, 2006, the cost
of the property held fOr resale for various hous�ng propehies m Palm Desert totaled
525,000.
j. Prepaid Items and D�poslts
Certain payments to vendors reflect costs applicable to future accounting periods are
� recorded as prepaid items in the government-wide and fund financ�al statements
The Agency has deposited 5571,281 with Coachella Va�iey Water District for future sewer
connection charges at the Indian Springs Mobile Fiome Park, 56.000,000 in escrow to
purchase property in the North Sphere, and 51,025 m escrow to purchase various
properties. An additional 527,458 of miscellaneous prepaid �tems �s mcluded in th�s
account.
k. Property Tax Calendar
Property taxes are assessed and collected each fiscai year according to the follow�ng
property tax calendar:
Lien Date January 1
Levy Date July 1 to June 30
Due Date November 1- 1st Installment
March 1 - 2nd Inatallment
Delinquent Date December 10 - 1st Installment
April 10 - 2nd Installment
Undar California law, property taxes are assessed and collecled by the counties up to
1% of assessed value, plus other mcreases approved by the voters. The property taxes
go into a pool, and a�e then atlocated to the agencies based on complex formutas
prescribed by the state statutes.
27
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Palm Desert Redevelopment Apency
Notes to Financial Statements (Continued)
Note 1: Summery of Significant Accounting policies (Continued)
I. Relationship to the Clty of Palm Desert
The Paim Desert Redeve�opment Agency is an integral part of the �eporting entity of the
Ciry of Palm Desert, Califomia. The funds and account groups of the Agency have baen
inctuded within the scope of the basic finanaal statements of the City because the Ciry
Council of the City of Palm Desert exercises oversight responsibility over the operations
of the Agency. Only the funds and account groups of the Agency are included heresn and
these financial statements, therefore, do not purport to represent ths financial position or
results of operat�ons of the City of Palm Desert.
Note 2: Organizatlon a�d Tax Inc�ement �inancing
The Agency is a separate governmental entity as prescribed in the Galifornia Communiry
Redevelopment Iaw and as set forth in the Health and Safety Code of the State of Ca{ifomia.
The Agency consists of Project Area 1, Project Area 2, Project Area 3 and Project Area 4.
In add'+tion, the Agency and the City of Palm Desert (the City) have estabiished the Palm
Desert Financing Authorlty as a joint power of authority between the Agency and the City for
purposes of �nancing and funding capital improvements. 7ransactions related to the �oint
power for the Agency are recorded in a debt service fund.
The Palm Desert Housing Authority was established in January 1998, as a component unit of
the Agency and is partly responsible for the adminisvation of providing affordable hous�ng in
the City of Palm Desert. The apartment compiexes owned by the Housing Author�y are
operated by a management company. The transactions related to the Housing Autho�ty are
reported in a Special Revenue Fund.
Agency expenses inGude capital improvement projects and operating costs wh�ch inGude
required staff support and consultant services.
The Agency's primary source of revertue comes from property taxes, referred to in the
accompanying financial statements es "tax increment revenue." The assessed vafuation of all
property within each project erea was determined on the date of adoptian of the Project Area.
Except for certain amounts provided by specific agreement (see No1e 7), property taxes
related to the incremental increase in assessed values after the adoption of the Projed Area
have been alfocated to the Agency, while all property taxes on the "frozen" assessed valuation
as oi the adoption date have been allocated to 1he City and other districls.
Note 3: Cash and Investments
Cash and investments reported i� the accompany�ng financia! statements consisted o( the
following:
Cash and investments pooled wlth the City S 120,959,997
Cash and investments with fiscal agent 23,222,551
� 144,182,548
The Agancy's funds are pooled with the City of Palm Desert's cash and investments m order
to generate opUmum interest income. The City has implemented GASB Statement No. 40,
Deposfl and Jnvestmeni Risk Dlsclosures. GASB No. 40 establishes and modifies disclosure
requirements related to deposit and investment risks. The information required by GASB
Statement No. 40 related to authorized investments, credit risk, etc., is available in the annual
report of the City.
28
Palm Desert Redevalopment Agency
Notec to Financial Statements (Continuad)
�` Note 4: Loans, Notes Receivable and Due from Other Governmental Agencies (Contfnued)
Receivables consisted of the fofiowing at June 30, 2006:
low and Other
Moderate Debt Sen�ice Gavem- Tota1
Irx,ome P�o�ect Prc�ect Prqect Finanang mental Gvvemmantai
Housmg Area 1 Aroa 2 Area 4 Authority Funds Raceivables
Accounts S 440 S 466.756 S 85,499 S 169,798 = - S 75,607 S 798,100
Interest 209.345 - - - 5,339 1,419,016 1,633,700
Loans 77,810 - - - - - 77,810
Due from Other
Govemments 10.000 - - - - - 10.000
Notes 7.659.437 - - - - 2,000,000 9.659.437
S 7,957.032 S 466,756 S 85.499 S 169,798 $ 5,339 S 3,494,623 S 12,179,047
Loans Receivab�e
a. The Agency has loaned $41,174 in below market loans, secured by deeds of Vust, to
el�gible low-income households. Monthly payments of interest and principal are due over a
period of 30 years unless the homes are sold, in which case the entire loan balance is "
due and payable.
b. The Agency has 536,636 in home improvement loans. Payments of mterest and principal
are due monthly on these loans.
" c. The Agency has issued loans for severai other projects, all of which are secured by a
deed of trust. A valuation eliowence equal to the loan balance has been recognized where
tttere is a signficant possibility that these loans either become uncollectible or forg�ven by
the Agency at a future date if all the terms of the loans have been met.
29
m
m
Palm Desert Redevelopment Agency
Notes to Financial Statements (Continued)
" Note 4: Loans, Notes Recefvable and Due from Other Govemmentai Apencfes (Continued)
Detailed information for these loans is as follows:
Loan
Balance Interest Maturity '
Pro�ect Name Outstandmp Rate Date Secured By Spec�al Provisions oi Loan
SeK-Help S 429,000 7.25% 30 years Deed ot Trust Loan balance and +nterest
Housing Program or 2024 due upon maturity, unpaid
balance of loan or interest
will bear an interest rate of
12°/..
Home Improvement 168,375 N/A N/A Deed of Trust Loan is payable upon
Loans chanpe or transfer of tltle.
refinancing or upon the
death of the borrower.
Ponola Palms 216,800 3.00% 30 years Deed of Trust
Mobilehome Paric from date
of loan Loan balance and mterest
wilt be forgiven at maturity
if dentor does not breach
• the terms and conditions ot
esthe� the unit regulatory
agraemenl or note.
DeseA Rose 2.130,682 3.00% 30 years Deed of Trust Loan wili be fo�given at
from date maturity unless the aebtor
'-' oi loan is in vlolation of the unit
requlatory apresment or
the deed of ttust.
Acquisi6on, 52,000 3.00% 30 years Deed of Trust Loan balance and interest
Rehabilitation, from date Assignment vvlll be forgiven at malurity
Resale of loan of Rent 'rf debtor does not breach
the terms and conditions of
elther the unit reguiatory
aoreement or note.
Notes Rece�vabfe
A loan receivable for the construction of a multi-family affordabfe housmg development
dated June 14, 2001, with a balance of 57,659,437 is due from the Palm Desert
Development Company. The loan is secured by a Deed of Trust, with assfgnment to
property, rent and fixtures on the housing development located in Palm Desert. Interest is
earned and due annually at a rate of 1°/, per annum from the date on which the fmat
certlficate of occupancy is Issued. Principal on the loan is based on the applicabie
agenc�s percentage of positive net cash fiow derived from the operations of the
Development.
�
Palm Desert Redevelopment Agency
Notes to Financial Statements (Continu�d)
� Note 4: Loans, Notes Receivable and Due from Other Governmentel Agencies (Contfnued)
Due From Other Govemmenta� Agencies
The Agency entered into a cooperative agreement with the Counry of Riverside (County)
and Desert Communiry College District (District) to construct and operate a regionai
library. On benalf of the County and District, the Agency advanced payments on this
pro�ect, which are to be repaid from certam County Library and District pass-through
funds (see Note 7). At June 30, 2006, both the County and District pafd their port�ons of
the advance.
On Aprii 21. 2003, the Agency entered into a loan egreement with The Regents of the
Urnversity of California, on behalf of its Riverside Campus, to ioan various amounts over a
penod of time, not to exceed an aggregate amount of a2,000,000. Proceeds of the ioan
are to be used Sot cap�lal improvements at the Universitys R'�versitle Campus. The
outstandmg pnncipal balance and interest on the note is due in frve annuai payments
beginning on a future date yet to be determined. As of June 30, 2006, the amount
outstandmg on the loan was 5 2,000,000.
Note S: Interfund Receivable, Payable and Transfers
The composit�on of mterfund balances as of June 30, 2006 is as follows:
Intertund Transfers '
Transfers From•
Low and Nloderate
Incorne Fiousing
Debt ServiCe
P/A 1
DeDt SarHce
P/A 2
Debt Service
P/�Q 4
pebt Scxvice Finanan8
,qutt�ai�'
Other Goverrxrtenta�
Totels
Speciel
Revenue
Low and
AAoderate
Inoome
Fiaesing
Transfers To
Debt
5ervice
Otfier
Fina�dng Dabt Servioe Debt Servioe Ga�+emmental
Autho�ity Area 1 Area 2 Funds
4,167.691
9,153.3g5 9.270.0T6
3.043,663 2,413,223
2.519,237 1.194.�99
863
1,250.332 294.189
S 15,966.617 S 17,339,978 S 883 S
TaRal
381.556 4,5/9.247
4,640,963 23,064.424
3,501.643 8,968,529
1.379,720 5.093,756
1 87 971
5.838,519 7.383,040
1 S 15,742,48B S 49,049,967
31
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m
m
Palm Desert Redeveiopment Agency
Notes to Financial SWtements (Continued)
._..
Note 5: Interfund Receivable, Payable and Transfers (Contfnu�d)
Transfers are used to:
1. move receipts restricted to debt service from the funds collecting the receipts to the
debt service funds as debt service payments become due, '
2. transfer 20% of tex increments received by RDA Debt Service �unds to the low and
Moderate Income Housing Specia� Revenue Fund,
3. transfer aliocation of admmistrative expenses, and
4. transfer revenues to provide for capital projects.
Note 6: Cnpltal Assets
A summary of changes in capitai assets for the year ended .lune 30, 2006 is as follows.
Ba�anoe at Aclustmerxsi Ddeta�u/ Balan�e at
Prin'fy Govertvnent JuIY 1, 2005 Ad6tion5 Trensfe►s JunE 30. 2006
Capte� a.�sets, na t�np aepreaatea:
lantl S 49.8G0,488 S 3,�30.928 S 2,344.132 f 50,677,284
Cpnsfn�ctio�in-progess 16,731.074 12,796,476 2.878.901 26.648.9t9
Tatal Gapifel Assets Not
Bemp DeP�edeted 96,621,582 15,927,40t 5,222.733 77.326.233
Ceptd assers, beinG dePredated:
Buldmps 56.845.247 7.818,384 - 64.663.641
�-- �moroMert�ks oCxr men
buildings 7.232.568 - - 7.232,558
MYd�iliery and eQuipn'Id1t 138,256 8,84� 2,847 144,253
Tdal C.apltel Assets
Bemp Depreciated 64.2'16.O6a 7.827.235 2.847 72,040.,52
Less acaanlatea depreciatlon ior.
Buildinpe (18,953.584) (1.315,112? (21.268.686)
Irtprovernents dher then '
buldkips (�,995.756) (361.628) (2357.383)
Mecfrnery�ndequpr�K (97.888) (�6,322) 2.454 (111,754)
Taai Acwmulated
Depreciatlon (22.047.725) (1,693,0621 2.A54 (23.737,833)
Nat CeP�tsl Pssets
Bang Defxedeted 42,188.838 6,134.1T3 383 48,3Q2,619
Net C.e,pital A�eefs
GOv�ernmentel ACtivi6e6 S 108.790.401 S 22.0H1.577 S 5.723.126 S 125.E28.852
Note 7: Amounts Dus Und�r Pass-Through Agreements
Property texes related to the incremental increase in assessed values after the adoption of
the Redevelopment Plan are, except where otherwise provided by speclf� agreement,
allocated to the Agency. The Agency has entered into various pass-through agreements with
othe� agencies to allocate +ts tax increment revenue.
32
Pafm Desert Redevelopment Agoncy
Notes to Financial Statements (Continued)
Note 7: Amounts Due Undor Pass-Through Agreements (Continued)
At June 30, 2006, the Agency has an obligation of $37,762,479 to other agencies and entities
related to specific pass-through agreements as follows�
Balance at Balance at
Entity July 1, 2005 Addiiions Payments June 30, 2�06
Note 8:
Riverside County -
Capital Improvement
Riverside Counry - Schoois
Riverside County - Library
Riversitle Counry - Fire
Coachella Valiey Mosquito
Abatement District
Coachella Valley Weter
Distnct
Desert Commun�ty College
Distriot
�esert Sands Unified
Schoo! District
Coachella Valley Recreation
and PaAc District
Coachella Valley
Resources Dfstrict
Palm Springs Unified
School Distncl
County Juvenile Heafth
District
Other Daposits
S 9,Q59,281 ' S 13,872,834
480.674 662,312
2.270.172 ' 1,602,623
2,145,213 2,767.317
a42,565 53B,456
4,095.628 1.207,519
300,7T9 ' 1,134,708
3.692,446 ' 5,�03,883
348.262
2,977
134,64'I
562.881
487.075
S 24,022.594
4�7,435
4,133
187,429
1.227,386
214,891
S 28,950,926
S 6,149,997 S 16.782,118
480.674 662,312
3.872,795
2,145.213 2,767,317
442.565
300.779
3,861,256
348,262
2,977
134,641
1,233,540
91,137
S 15,191.041
538,456
5,303.147
1,134.708
4,935,073
427,435
4,133
187,429
556,727
610.829
S 37,782,479
'The Redevelopment Agency has used bond proceeds for the construction of capitat
�mprovements, which benefit these entities. These entities have agreements with the
Redevelopment Agency, which will allow it to use a portion of these amounts to offset debt
serv�ce costs.
Lony-Torm Liabilities
A description of long-term liabilities outstanding (excluding defeased debt) of the Agency as of
June 30, 2006, follows:
a. Tax Allocatio� Bondc
Tax Allocation bonds are speciel obligations of the Agency and the Financing Authority, (a
component unit of the Agency} and are secured by an irrevocable pledge of tax revenues
and other funds as provlded under the Bond Resolution. The bonds, and any interest
thereon, ere not a debt of the City, the State of California or any of its politipl subdivisions
and neither the Ciry, the State of California nor any of its political subdivisions is liable on
the bonds, nor in any event shall the bonds, and interest thereon, be payable out of any
funds or properties other than those provided under the Bond Resolution.
33
' •:
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Palm Desert Redevelopment Agency
Notes to Financial Statements (Continued)
Note 8: Long-Term Liabflities (Contfnued)
1995 Series Tax Ailocation Revenue Bonds (Proiect Area No. 21
In June 1995, the Palm Desert Financing Authority issued 54,090,000 oi Tax
Allocation Bonds (P�oSect Area Na. 2) Ser�es 1995. The Palm Oesest Financ�ng
Authority loaned the bond proceeds to the Palm Desert Redevelopment Agency to
finance certain redeveiopment activities of the Agency in Pro�ect Area No. 2. Interest
rates on tne bonds vary from 4.40% to 5.95% per annum payable semi-annually on
February 1 and August 1 with principal maturing annually on August 1.
1995 Series A- Tax Allocation Revenue Refundinp Bonds
(n August 1995, the Pa�m Desert Financing Authority issued 56,305,000 �n Tax
Allocation Revenue Refunding Bonds 1995 Series A. The proceeds from the bonds
were loaned to the Palm Desert Redevelopment Agency to provide iunds to refund in
advance 56,430,000 of the 1988 Tax Allocation Bonds. Interest rates on the bonds
vary trom 3.80°!o to 5.55°!o with interest payable semi-annually on March 1 and
September 1, with pnncipal maturing ennually on September 1,
1997 Series Tax Allocation Refundina Revenue Bond�
�
On July 24, 1997, the Palm Desert Financing Authority issued 571,955,000 m Tax
Allocation Refunding Revenue Bonds (Project Area No. 1 as Amended) 1997 Ser�es.
The proceeds from the bonds were Ioaned to the Palm Desert Redevelopment
Agency to provide funds to refund in advance a portion of the t992 Series A Tax
Allocatlon Revenue Bonds. Interest rstes on the bonds vary from 4.�00% to 5.625%
with interest payable semi-annually on April 1 and October 1 with pnncipal matunng
annually on April 1.
1996 Series Tax A1location {HousinG Set-Aside) Revenue Bonds
i� Jertuary 1998, the Palm Desert Financing Authacity issued 548,760,000 in Tax
Allocation (Housing Set-Aside) Revenue Bonds. The proceeds from the bonds were
loaned to the Palm Desert Redevelopment Agency to finance the acquisltion of seven
apartment complexes conslsting of T25 rental units from the Housing Authority of the
County of Riverside. Interest rates on the bonds vary from 4.0°� to 5.1% per annum
payable seml-annua(ly on Apri( 1 and October 1 with principal maturing annually on
October 1.
1998 Series iax A1location Revenue Boncis iProiect Area No. 4�
On March 1. '1998, the Palm Deserf Financing Aufhority issued �11,020,000 of Tax
Aliocation Revenue Bonds (Project Area No. 4) Series 1998. The proceeds from the
bonds were toaned to the Patm Desest Redeve�opmant ABency to S'inance certain
redevetopment activfties of the Agency in Project Area No. 4. Interest rates on the
bonds vary from 4.0% to 5.2% per annum payable sem�-annually on April � and
October 1, wfth principal maturing annually on October �.
0
34
�
Palm Desert Redevelopmant Aqency
Notes to Financipl Statements (Continued)
Note 8: Long-Term Liabilities (Continued)
2001 Se�ies Tax Allocation Revenue Bonds fProiect Area No. 41
In November 2001, tne Palm Desert Financing Authoriry �ssued $15,695,000 of Tax
Allocetion Revenue Bonds (Project Area No. 4) Series 2001. The proceeds from the
bonds were loaned to the Palm Desert Redevelopment Agency to finance certa�n
redevelopment activiUes of the Agency in Pro�ect Aree No. 4 interest rates on the
bonds vary from 3.5% to 4.9% per annum payable semi-annually on April 1 and
October 1, with prmcipal matunng ennua{!y on October 1.
2002 Series A 7ax Allocation Refundinq Re�enue Bonds lProiect Area No. 1 as
Amendedl
In March 2002, the Palm Desert Financing Authority issued 522,070,000 of Tax
Allocation Refundmg Revenue Bonds (Project Area No. 1 as Amended) 2002 Series
A The proceeds from the bonds were loaned to the Palm Desert Redeveiopment
Agency. A portion of the proceeds oi the loan was used to prepay the prior loan,
wh�ch effected the current refunding of a like portion of the prior bonds. The
remainder was used to finance certain redevelopment activit+es of the Agency m
Project Area No. 4. The bonds consist of serial bonds of 510,905,000 at 5.00% due
April 1, 2025, end 5�1,165,000 in term bonds at 5.10% due April 1, 2030, Interest is
payable semi-annuaHy on April 1 and October 1. Mandatory sinking fund redemptions'
begm April 1, 2024.
2002 Series A Tax Allocation RefundinQ Revenue Bonds (Proiect Area No 2�
` In July 2002, the Palm Desert Financing Authority issued 517,310,000 of Tax
Allocation Refunding Revenue BonCs (Project Area No. 2). The Pa�m Desert
Financing Authority loanecl the bond proceeds to the Palm Desert Redevelopment
Agency to prepay outstanding indebtedness and to finence certain redevelopment
activities witt�in or of benefit to the project aree. Interest rates on the bonds vary from
3.0% to 5.0% per annum payable semi-annually on February 1 and August 1.
Principal payments will be made annually beginning August 1, 2003.
Series 2002 Tax Allocation (Housina Set-Aside) Revenue Bonds
In August 2002, the Palm Desert Financing Authoriry issued 512,100,000 of Tax
Allocation (Housing Set-Aside) Revenue Bonds Series 2002. The Palm Desert
Finencing Authoriry loaned the bond proceeds to the Palm Desert Redevelopment
Agency to finance certain low and moderete housing activities of the Agency and to
finance costs of issuance of the bonds. Interest rates on the 56,555,000 seriel bonds
very from 2.0°k to 4.9% per annum payable semi-annually on March 1 and October 1.
Annual principal payments begin October 1, 2003. The =5,545.000 term bonds bear
an interest rate of 5.0% per annum and mature October 1, 2031.
Series 2003 Tax Allocation Revenue Bonds (Proiect Area No. 21
In March 2003, the Palm Desert Financing Authoriry issued 515,745,000 of Tax
Allocation Revenue Sonds (Project Area No. 2) Series 2003. The Paim Desert
Finencing Authorlry loaned the bond proceeds to the Palm Desert Redevefopment
Agency to finance certain redevelopment ectiv'sties of the Agency in Pro}ect Area
No. 2. Interest rates on the bonds vary from 4.59'o to 5.0°Yo per annum payable semi-
annually on February 1 and August 1, with princlpal maturmg as follows:
�
35
� ,
�
Palm Desert Redevtlopm�nt Agency
Notes to Financial Statements (Continued)
Note 8: Long-Tertn Liabilities (Continued)
S 875.000 Serial Bonds August 1, 2023
910,000 Serial Bonds August 1, 2024
2,485,000 Term Bonds August 1, 2026
11,475,000 Term Bonds August 1, 2033
Series 2003 Tax Allocation Revenue Bonds lProiect Area No. 1�
In July 2003, the Financing Authority issued �19,000,000 Tax Al�ocation Revenue
Bonds (Project Area No. 1 as Amended) Series 2003. The proceeds of the bonds
were disbursed to make a loan to the Redevelopment Agency. The Agency wili use
the proceeds of the loan to finance certain redevelopment activities of the Agency and
to finance cosls of issuance of the bonds. The bonds bear interest at 5.0°/a. They
consist of $7,050,000 seriat bonds with principal paymenls due in 2026 and 2027, and
S� 1.950,000 term bonds due in 2030. Interest wili be payable on April � and
October 1, of each year, beginning Aprii 1, 2004. Prmcipal payments wdl be on April 1
of the years stated above.
Series 2003 Tax Allocat�on Revenue Bonds (Proiect Area No. 3)
In July 2003, the Financing Authoriry issued Tax Altocation Revenue Bonds (Pro�ect
Area No. 3) Series 2003 in the amount of 54,745,OOQ. The proceeds of the bonds
were disbursed to make a loan to the Redevelopment Agency. The Agency win use
the proceeds of the loan to fmance redevelopment activities within or of benefit to the
project area and to finance costs of issuance of the bonds.
0
The bonds bear interest at rates ranging from 3.000% to 5.1259'0. Principal matur�ties
for the senal bonds of 52,475.000 began April 1, 2004, and contmue through
October 1. 2031. The term bonds in the amount of $2,270,000 are due in 2033
�004 Series A Tax Allocalion Refundinq Revenue Bonds (Proiect Area No. 1 as
Amendedl
In June 2004, the Palm Desert Financing Authority issued 524,945,000 of Tax
Allocation Refunding Revenue Bonds (Project Area No. 1 as Amended) 2004 Series
A. The proceeds from the bonds were loaned to the Palm Desert Redevelopment
Agency to refinance a portion of the Agenc�s obligations from 1995 and to finance
certefn redevelopment activities within or of benefit to the pro�ect area. Interest rates
on the bonds very from 3.0°/a to 5.0% per annum payabSe semi-annually on April 1
and October 1. Principal payments will be made annually beginn�ng April 1, 2005.
b. Advances from City
The Ciry of Palm Desert has made advances to the Agency to finance capltal projects in
the following amounts: Project Area #1 510,011,857, Pro�ect Area #2 520,991.060, and
Project Area #3 51,762,563, for a total of 532,785,480. These advances do not have a
f�xed repayment schedule.
c. Notes Payable
The Agency entered into a cooperation agreement with the County of Riverside (the
County) on December 15, 1987 regarding the adoption of the Agencys Pro�ect Area
No. 2. The agreement states that the Agency was to �etain 5�°/0 of the County's shase of
tax increment. This was based on the County's share of tax mcrement being what would
be allocated to the County in the absence of a redevelopment pro�ect area being adopted.
36
Paim Desert Redevelopment Agency
Notec to Financial Statements (Continued)
0
Note 8; Long-Term Liabilities (Continued)
This ayreement called for the Agency to retam 50% of the County's share unt�l ihe gross
mcrement reached 53,500,000. The agreemant further states that when gross increment
reaches �10.000,000 thal the Agency wouid repay the 50% of the retained Counry's share
of increment in equal payments over a 10-year penod.
The gross increment reached the $3,500,000 limit in fiscal year 1g91-1gg2. The Agency
reached the 310,000,000 limit in fiscal year 2002-2003. The total amount owed to the
County at June 30, 2006, was $736,242. Annual payments on the note are $122,707.
The note is non-interest beering.
�
�
Future debt service payments are as follows:
Year Endmg
J�ne 30, Principal
20�7
2008
20Q9
2010
2011
2012
122.707
122,707
122.707
122,707
122.707
122,707
3 736.242 S
mterest Totai
- 122,707
- 122,707
- 122.707
- 122,707
- 122,707
- 122,707
- S 736,242
37
.;
Palm Desert Redevelopment Agency
�
Notes to Financial Statements (Continued)
Note 8: Lona-Term Liabilities (Continued)
c. Schedule of Changes
The following is a schedule of changes in long-term Iiabiiities of the Agency fo� the fiscal
year ended June 30. 2006�
Belance Balance Due WRhn
July 1, 2005 Repaymenta June 30, 2006 One Year
Prqect Aroa No. t
ACvances hom Crty S 10,011,857 S - i �0,011.857 S -
2002 TARRBs, 522,070.000 22,070.000 - 22.070.000 -
' 1g97 Series TARRBs, 571.955,000 59,540,000 2,025,000 57,515.000 2,065,000
2003ATARBs. 5�9,000,000 '19,000.000 - 19,000.000 -
2004ATARRBs. 524.945.000 24.450,000 855.000 23,595.000 940.000
Tote1 �35,07�,857 2,880,000 132,791.657 3,005,000
`.
Project Area No. 2
ACvances hom Cny
County Nou Pe}r�de
1995 Seriss TARBs, 54,090.000
2002 Ser�ss A TARRBs, 517.310,000
2003 Ssnes TARBs, 515.745.000
TOtal
Prdect Ares No 3
Aovances trom City
2003 Senes TARBs, S4,7a5.000
Tonl
Project Area No. 4
1998 Series TARBs. S11.020.000
2001 Series TARBa. S15.695,000
Total
Combmed Low and AAode►ate Housinq
1998 Serbt TARBs
2002 Serbs TARBs
'1995 SKies TARRBs, 56,305.000
7ovl
Totai - NI Prolect �reas
City Loont - Principal
Loant - Other Govammerns
Bonds Payable
Subtoql
AdG:
Unamort¢ed bond p►em�um
TOtil
S 20,991.060 S
858,949
3.905,000
16,000,000
15,745,000
57,500,009
S 1,782,563 S
4.500.000
6.282.563
- S 20.991.060 S
122.707 736,242
35.000 3.870.000
690,000 15,310.000
- 15.745.000
847,707 56.652.302
- S 1.782.563 S
90,000 4,410.000
90,000 6.192.563
122.707
115.000
630,000
867,707
95.000
95.000
10,370,000 230,000 10,140,000 250.000
15,235.000 170,000 15,065.000 270.000
25,605,000 400.000 25.2�5.000 520.000
45,670.000
11.625,000
2,375.000
59,670.000
590.000
245.000
555,000
1.390.000
45.080,000
11.380.000
1,820.000
58,280.000
615.000
250.000
585,000
1,450,000
S 32.785.480 S - S 32,785,480 S -
858,949 122.707 736.2d2 122.707
250,485.000 5.485.000 245,000,000 5.815,000
284.129.429 5,607.707 279,521.722 5,837,707
856.078 36.77� 819.307 -
S 284.985,507 S 5,844,478 S 279,341,029 S 5.937,707
38
Palm DesQrt Red�velopment Agency
Notes to Financial Statem�nts (Continued)
-�.
Note 8: Long Term Liabilities (Continued)
d Tne following schedute illustrates the debt service requirements to maturiry for bonds
outstanding as oi June 30, 2006:
2006 - 2007
2007 - 2008
2008 • 2009
zoos - zo, o
2010 - 20� 1
2012 - 2016
20t7 - 2021
2022 • 2026
2027 • 2031
2032 • 2036
Totals
�
6
2006 - 2007
2007 - 2008
2008 - 2009
2009 - 2010
2010 - 2011
2012 - 2016
2017 - 2021
2022 - 2026
2027 - 2031
2032 - 2036
Toqis
2006 - 2697
2007 - 2008
2008 - 2009
2009 - 2010
2010 - 201 t
2012 - 2016
2017 . 2021
2022 - 2026
2027 - 2031
2032 - 2036
Totals
Area No. 1- Tsx AhoqUo�
Refundlnp Bontls. Senea 1997 -
571.955M
Principai interest
S 2,065,000 S 3,110,723
2290,000 3,011.6W
2,255.000 2,899,394
2,505,000 2,786,644
2.495,000 2.656,889
15.105.000 11.130.425
19,T25.000 6.546.760
� 1,075.000 986.062
Area No �- Tsx Ailocat,on
Refundinp Bonds. 2002 Senes A-
522.07M
Pnncipal Interett
S - S 1,114,666
- 1.114,666
- 1.111.666
- 1.114.666
- 1.114.666
- 5.573.330
- 5.573.330
12,920.000 ♦,789.080
9.150,000 1, t 95,441
Area No. 1• Tex Allocation Revenue
Bonda, Serles 2003 - S19M
PnnaDal Interost
S - S 950.000
• 950,000
- 950,000
- sso,000
- G50.000
- 4,750.000
- 4,750.00U
3,4a0.000 a,750.000
15.560.000 1,992.500
S 57.515,000 S 33.130,501 S 22.070,000 S 22,70a,511 S 19.000,000 S 20,992.500
Area No 1- Tax NloaUon
Refundinp Bonds, 2004 Seriet A-
S2d.945M
Principa� Interest
S 940.000 S 1.097,413
850,000 1,059.813
1.030,000 1,025.B13
fl45.000 974,313
1.130.000 927,063
5.930.000 3,886.850
7.355,000 2 435,425
5,4�5,000 695.5U0
Ares No.2 - Tax IUIocaGon
Revenue Bonds, Senes 1995 -
Lt.09M
Pnncfpal Interett
S 115,000 S 225.182
120,000 218.529
125.000 211.279
135,000 203.586
145,000 195.304
850,000 835.303
�.13�,000 5n3.851
1,250,000 171,707
Area No. 2- Tax AI�oaUon Refundinp
Bond�, 2002 Serfes A- 517.31 M
PrfnclDal Interost
S 630,000 S 671,333
650,000 653.078
675.000 631,853
695,000 607,868
720.000 581,498
4,170.000 2,384,255
5.260,000 1,29p.848
2.510,000 126.750
S 23,595,000 S 12,102.190 S 3,870,000 S 2�605.044 i 15,310 000 S 6,927 483
Ar�a No. 2- Tax Alloption Area No. 3- Tax AliocaGon
Rev�nue Bonds. Sertet 2003 - R�venu� Bontls, Sene� 2003 -
515.745M Sd.745M
Prfndpai Inter�st Princlpal Intenst
S - S 769,006 S 95.000 S 201.598
- 789.006 95,000 198,748
- 769.006 100,000 195.898
- 769.006 100.000 193,048
• 769.006 105,000 189.848
- 3.845.030 590,000 Sb8,187
- 3,845.030 720,000 757.548
2,930.000 3,858.690 905.000 576.900
7,400.000 2,312,488 1.155,000 322.875
5,415,000 415,125 545,000 �2.28�
S 15.745,000 S 17.921.393 S 4,410,000 S 3,566 93�
Ana No. �- Tax Alloatfon Bonds,
Senes 1996 - i11.02M
Prinapal Intersst
S 250.000 = 508.759
260.000 496,378
265.000 4H3.628
290,000 470 490
295.000 156.fl46
1,710.000 2,053.749
2,175,000 1.565.37a
2,825.000 920,010
2,070.000 165,100
S 10.140.000 S 7,120 434
39
�
��
�
Palm Desert Redevelopment Agency �
Notes to Financial Statements (Continued)
Note 6: Long-T�rm Liabilities (Continued)
2006 • 2007
2007 - 2008
2008 - 2008
2009 - 2010
2010 - 2011
2012 - 2016
2017 • 2021
202? - 2026
2027 - 203t
2032 - 2036
7ouls
Aro� No. 4- Tax Alioca�on Bonds. Housinp Set-AaiOe Revanue Bonas,
Senes 2001 • f�5.695M 1995 Ser,sc A- i6.305M
PnnUpa! Interett PrinCipi� InMresl
S 270.000 f 682,994 S 585.000 S 83.4a5
285,000 6T3.Ot3 600.000 51.593
310.000 662,3�3 635.000 17,620
305,000 651.250 • -
320,000 639,909 - -
� ,800.000 2.994.085 - -
2,250,000 2.548,904 • -
2.785,000 1.962.1g4 - •
5.090,000 1.136.160 • -
�,650,000 39,600 • -
Housmp Set•Asios Revenue Bonas,
Serfes 1998 • 1f8.76A1
P�lncbal Interoft
S 615,000 S 2.25�.604
655.000 2.224,d16
685.000 2.196.342
1,390.000 2,t47,036
1,460,000 2,075.785
8.510,000 9.175.180
10,940,000 6.751,779
14,095.000 3.566.707
6.730.000 347,565
: � 5.065.000 S t 1.990.422 S 1.820,000 S 152.658 f 45.080.000 S 30.757.0' S
2006 - 2007
2007'- 2008
2008 - 2009
2009 - 2010
2010 - 20� 1
2012 - 2016
2017 - 2021
2022 - 2026
2027 - 2031
2032 - 2036
Totals
Houslnq Set-As�de Revenue
Bondt, Series 2002 - 512.1 M
PAnGp�i Intereet
S 250,000 S b15,144
255,000 508,448
265,000 504,572
275,000 491453
285,000 481,298
1,595,000 2.226.249
1.880.000 �.847,831
2,510.000 1,316.335
3.220.000 605,000
745,000 18.625
S 11 �,380�000 i 8.511.055
Total
Pnncinai Interest
S 5,815.000 S 12.182,367
6.060.000 11.929.692
6,315.000 11.658.384
6.640.000 11.359 360
6,955.000 11.040,213
40.260.000 49.722.643
5�,535.000 38.456.783
62,660,000 23.539.935
50,375.000 8.077,129
8.355.000 515,631
S 245.000_000 _ S 178.482.137
Note 9: Bond Reserve Requirements
At June 30, 2006, the reserve balance requirements and actual balances were as follows:
lssue
1995 Refunding Tax Allocation Bonds
2001 Tax Aliocation Revenue Bonds
Requirement
S 182,000
482,890
Actua�
$ 644.894
500,344
These actual amounts are included in the Fund Balance reserved or designated tor Debt
Service (see Note 11).
Note 10: Defsas�d ObliBations
The Agency defeased certain Redeveiopment obligations �n prior years by placing the
proceeds of new obligations in an irrevocable trust to provide for all future debt service
payments on the old obligations. Accordingly, the uust account assets and the liability for the
defeased obligations are not included fn the accompanying financial statements.
At June 30, 2006, there were no outstanding amounts of the defeased obligations.
40
Note 11: Reserves of Fund Balances
Palm Desert Radevelopment Apency
Notes to Financial Statementc (Contlnusd)
�
Special
Revenue
Fund
Low and
�Aoderate
Income
Hpusmp
Debt
Service
Funds
Othe�
Financinp Project Pro�ect ProJact Govemmenta�
Authonty Area � Area 2 Area 4 Funds Tota�
Loans and notes
rece�vabie S 7?37.2a7 S - S - S - S - 2,000,000 S 9,737.247
Property neld for resale 25.000 • - - - - 25.000
Preoaid items antl deposits a,009 - 3.033 2,275 1,517 6,588,930 6,599.764
Encumb�ances 3,9�0.018 - 16,843,777 20,753,795
Continuing appropria�ons 12.924,133 t3,533,6ta 26,457.777
Debt Serv�ce 664.890 66a.890
S 2a.600,a07 S 664,890 S 3.033 S 2,275 S 1,517 S 38.966,351 S 6a,238,473
Reserved for Loans and Notes ReCeivables - These reserves are set up to reflect the
noncurrent port�on recaivables so that they will not be cons�dered as current tunds availabfe.
. Reserved for ProDertv Held for Resale - This reserve for property held for resale has been set
aside to ind�cate that it wlll not be considered as current funds available,
Reserved for Prepaid ltems and Deaosits - These reserves are set up to reflect the
noncurrent portion of the deposits so that they wlll not be considered as current funds
evaifabfe.
�
Reserved for Encumbrances - These reserves represent the portion of purchase orders
awarded for which the goods or services had not yet been received at June 30, 2006.
Atthough all appropnations lapse at year-end, even ff encumbered, the Ciry intends either to
honor the contracts in progress or to cancel them. Reserve for encumbrances are rebudgeted
an July 1, by Baard action.
Reserved for Contmuin4 An�ro�r�ations - Th�s reserve is for appropriations for capital projects
that are unexpended as of June 30, 2006, and are canied forward as continuinp
eppropriations to be expended in 2006-2007.
Reserved for Debt Service - These reserves for Debt Service represent reserves accumuiated
by the Agency that are fegafly restricted to the paymertt of long-term debt prirtcipal artd
interest amounts that meture ►n future years.
Note 12: Net Assets Restatement
The beginning balance of net assets has been increased by S125,462 due to a pnor year
capitaliZation and reporling.
0
41
' •:
Palm Desert Redevelopment Apency
Notes to Financlal Statements (Continued)
'' Note 13: Conduit Dabt Obligation
2003 Series A- 522,310,000 Lease Revenua Bonds
In December 2003, the Pa�m Desert Financing Authority (Authority) issued 522,310,000 in
Lease Revenue Bonds. The proceeds of the Bonds were used to� i) finance the
construction of a County animai shelte� and related facilities located �n the unincorporated
area of Thousand Pelms, Cel'rforn�a; ii) fmance construction of certafn Counry medical
clinic facilities located in Mecca, California; �ii) refund the Palm Dese�t �inancmg Authority
Lease Revenue Bonds Series 1996; iv) acquire a debt service reserve Insurance policy; v)
fund capitalized interest on the bonds; and vi) pay costs of issuance of the bonds. The
Authority w(II lease sites relating to each project from the County of Riverside (County)
pursuant to a Site Lease dated as of December 1, 2003, and will lease back to the Counry
the Sites and the Facilities pursuant to a Facil�ties Lease dated December 1, 2003. Under
the Lease, the County will pay to the Trustee Base Rer►ta4 Qayments in the amount equaf
to the scheduled debt service of the Bonds. The Authority will assign its right to receive
the Base Rental Payments to the Trustee for the benefit of the owners of the bonds. The
debt service on the bonds is to be paid soiely from lease payments made by the County.
The Authority has no obligation to make the debt service payments in the event that the
Counry is not able to make the required base rental payments. As of June 30, 2006, the
outstanding amount was S 21,500,000.
Note 14: Insurance
The Agency is covered under the City of Palm Desert's i�surance. For additional informat�on.
see the City's flnancial statements.
�
Note t5: Coss�snttments
The Agency has various disposition and development agreements and owner participation
agreements outstanding. All liabilities incurred to date have been acCrued m the financial
statemenls. Construction commitments are reported as fund balances reserved for
encumbrances and are detailed in Note � 1.
Note 16: Subsequent Events
Tax Allocation Revenue Bonds (Proiect Area No. 1, as Amended) 2006 Series A and Series B
(Taxable)
On July 6, 2006, the Palm Desert Finencing Authoriry Issued 537,780.000 of Tax Allocation
Revenue 8onds (Project Area No. 1, as Amended) 2006 Senes A and 524,540.000 of Tax
Allocation Revenue Bonds (Project Area No. 1, as Amendad) 2006 Series B(Taxable). The
Palm Desert Financing Authority loaned the bond proceeds to the Palm Desert
Redevelopment Agency. The proceeds of the Series A loan will be used to assist the Agency
to finance certain redevelopment activities wfthin or of beneflt to Project Area No. 1, as
Amended, pay costs of issuance and pay tne premwm on a Reserve Fund surety bond. The
proceeds of the Series B loan will be used to refiinance the Agency's obligations incurred
under a loan agreement entered into in 1997, pay costs of issuance and pay the premium on
a Reserve Fund surery bond. The Series A bonds consist of 526,415,000 Serial Bonds witn
interest rales ranging from 4.70% to 5.25% payeble semlannually on October 1 and April 1.
Bond maturities begin April 1. 2017, and continue annually through 2030 Term bonds in tne
amount of $11.365,000 carry an interest rate of 5.00°� and mature April 1, 2022. The
Series B bonds consist of $13,220,000 Seria� Bonds with interest rates rangmg from 5,56% to
5.77% payable semiannually on October 1 and Apni 1. Bond maturities begm April 1, 2007,
and continue annually through 2012. Term bonds in the amount of 511,320,000 carry an
interest rate of 5.82% and mature April 1, 2016.
�
a2
�
Palm Desert RedevQlopment Aq�ncy
Notes to Financial Statements (Continued)
Note 16: Subsequent Events (Continued)
Proiect Area No. 2 Tax Allocation Refundfnp Revenue Bonds 2006 Series A, Tax A1location
Revenue Caaita� Aa�reciat�on Bonds 2006 Series B, Revenue Bonds 2006 Series C and
Subordinate Tax Allocation Revenue C� ital �reciation Bonds 2006 Series D
On July 25, 2006, the Palm Desert Financing Authority issued its Project Area No. 2,
5�31,340,000 Tax Allocation Revenue Bonds 2006 Senes A, t1.567,118 Tax Ailocation
Revenue Capital Appreciation Bonds 2006 Series B, S7,775,000 Tax Allocation Revenue
Bonds 2006 Series C and $16.936,095 Subordinate Tax Allocation Revenue Capital
Appreciation Bonds 2006 Series 0. The Palm Desert Financing Authority loaned the bond
proceeds to me Palm Desert Redevelopment Agency. The proceeds of the Series A, B and C
Bands will be used to make three loans to reiinance the Agency's obligations incurred unde� a
ioan �greement entered into in 1995, finance certain redevelopment activities withm or of
berrei�t to ns �rojecl Aiea No. 2 Reserve Fund surety an� pay costs of issuance of the bonds.
The Agency will use the proceeds of the Series D Bonds to finance certain redeveiopment
activities within or of benefit to the Pro�ect Aree, fund e debt service reserve fund and pay cost
of issuance of the bonds. The Series A bonds consist of 516,250,000 Serial Bonds with
interest rates ranging from 4.00% to 5.00% payable semiannuelly on August � and
February 1. Bond maturities begin August 1, 2007, and continue annuel�y through 2026.
Term bonds in the amount of 58.225,000 carry an mterest rate of 4.90°k and mature
August 1, 2031. Tenn bonds m the amount of 516,865,000 cany an interest rate of 5.125°�
and mature August 1, 2036. The Series B bonds consist of $1,567,118 Capital Appreciation
' Bonds with a reoffering y�eld renging trom 3.85% to 4.08°�6. Bond maturities begin
April 1, 2007, and continue annually through 2010. The Series C bonds consist of a3,950,000
Seria{ Bonds w�th interest rates ranging from 3.90% to 4.90% payabie semiannually on
August 1 and February 1. Bond maturities begm August 1, 2010, and continue annuauy
through 2028. 'Ferm bontls in the amouni of S1,9'l0,000 carry an lnteresi rate of 4.9096 and
r,., matu�e August 1, 2031. Term bonds in the amount of 51.915,000 carry an interest rate of
5.00% and mature AuBust 1, 2035. 7he Series D bonds consist of �16,936,095 Capitai
Appreciation Bonds with a reoffering yield ranging from 4.65% to 6.10%. Bond maturit�es
begin August 1, 2007, and continue annuelly through 2035.
Proiect Area No. 3 Tax Allocation Revenue Bonds 2006 Series A. Tax Allocat�on Reve�ue
Cepital Appr@�iation Bonds 2006 Series B and Subordinate Tax AAocation Revenue Capitai
Aaareciation Bonds 2006 Series C
On �ufy 25, 2006, the Palm DeseR Financing Authority issued its Project Area No 3,
$11,915,000 Tax Allocat�on Revenue Bonds 2006 Series A, S383,fi60 Tax Allocation Revenue
Capital Appreciation Bonds 2006 Series B and 52,760,866 Subordmate Tax Allocation
F2evenue Capital Appreciation BonOs 2D06 Ser,es C. The Palm Desert Financin8 Authoriiy
IoaneO the bo�d proceeds to the Palm Desert Redevetopment Agency, The proceeds of the
Series A and B Bonds will be used to make two loans to finance various redevelopment
activities within or of beneflt to fts Proj@ct Area No. 3, purchase a Reserve Fund surety policy
and pay the costs of issuence of the bonds. The Agency w�l� loan tha proceeds of the Series
C Bonds to finance various redevelopment activit�es within or of benefit to the Project Area,
fund a debt service resarve fund and pay the costs of issuance of the bonds. The Series A
bonds conslst of 52,980,000 Serial Bonds with interest rates ranging from 4.00°k to 4.75%
payable semlannually on April 1 and October 1. Bond maturities begm April 1, 2007, and
continue annuatly through 2025. Term bonds in the amount of 54,465,000 carry an interest
rate of 4.75% and mature April 1, 2036. 7erm bonds in the amount of 54,470,000 carry an
interest rate of 5.00% and mature April 1, 2041. 7he Ser'�es B bonds consist of 5363,660
Capftal Appreciation Bonds with a yield rangmg from 5.31 % to 5.54%. Bond maturities are
A�ri! 1, 202�, 202'1, 2027 and 2D28. The Series C bonds cons�st of S2,7S0,866 Capital
Appreciat�on Bonds with a yield ranging from 4.80% to 6.10%. Bond maturities begm
April 1, 2009, and continue annuelly through 2034.
43
� �:
�
Palm Desert Red�velopm�nt Agency
Notes to Financlal Statements (Continued)
Note 16: Subsequent Events (Continu�d)
Tax Allocation Refundinq Revenue Bonds (PrQiect Area No. 4� 2006 Series A and Tax
Allocation Revenue Ca�ital An�recfation Bonds fProiect Area No. 41 Series B
On July 25, 2006, the Palm Desert Financing Authority issued S14,fi10,000 of Tax Allocation
Refunding Revenue Bonds (Project Area No. 4) 2006 Series A and 54,633,089 of Tax
Allocation Revenue Capital Appreciation Bonds (Project Area No. 4) 2006 Series B The
Palm Desert Financing Authoriry loaned the bond proceeds to the Palm Desert
Redevelopment Agency. The proceeds of the Series A and B Bonds wdl be used to make two
loans to refinance a portion of the outstanding obligations of the Redevelopment Agency
under a loan agreement dated March 1, 1998, finance various redevelopment activiC�es within
or of benefit to its Project Area No. 3, purchase a Reserve Fund surety policy and pay the
costs of issuance of the bonds. The Series A bonds consist of S8,155,000 Serial Bonds with
mterest rates ranging from 4.40% to 5.00% payable semiannually on October 1 and Apr�l 1.
Bond maturities begin October 1, 2008, and continue annually through 2026. Term bonds in
the amount of 52.200,000 carry an interest rate of 5.00% and mature October 1, 2029 Term
bonds in the amount of 54,255,000 carry an interest rate of 5.00°� and mature
October 1, 2034. The Series B bonds consist of 54,663,089 Capital Appreciation Bonds with
a yield ranging from 4.14% to 5.56%. Bond maturities begin October 1, 2009 and continue
annually through 2034.
44
` PALM DESERT REDEVELOPMENT AGENCY
COMBfNING SAUINCE SHEET - OTHER G01iERNMENTAI FUNDS
JUNE 30, 2006
0
Assets:
Cash end invastments
Casn with fiscal agent - restricted
Accounts race�vable
Interest receiveble
Notes rece�veble
Prepa�d costs and tleposits
Due from other apanment
Total Assots
Liabilfties and Fund Balanc�::
Uabilitl�s:
Accounts payable
Accrued liabilities
Daposits payable
Deierred revenue
UneemeC revertue
Due to other apartment
Due to other funds
Advances from the City of Palm Desert
Amount due - pass-through aQreementr
Total Liabllitias
Fund Balancos:
Reserved:
Encumbrances
Ativances to other tunds
Notes recefvabie
Prepaitl costs and deposits
Contmuing appropriations
Low income purposea
Unreserved:
Special revenue
Debt service
Capital ouday
Total Fund Balanc�s
Total Lfablliti�s
and Fund Bal�nc�:
Housiny
Authority
Sp�cial
R�v�nu•
Fund
3 6,255,507
313,503
4 ,468
67,�26
2,823.759
S 9,464.363
S 1,071,592
106.494
3'13,503
24,425
2,823.759
4,33�,773
5,480,472
(355,882)
5,124,3�0
D�bt
S�rvfce
Fund
S 3,93T,395
70,863
758
i 4,009,016
S -
1,435,164
1,435,164
758
2,573.094
2,573,852
Capital
ProJects
Funds
S 13.879,049
20,698,537
276
1,351,880
2.000,000
6.588,172
S 44,51T,924
S 3,919,567
25,693
15,000
65,926
a,ozs,� as
11.363,305
2.000,000
6.588,172
13,533,644
7.006.617
40,4�1,738
ScFwdulQ 1
Tatals
S 24,071,951
21,012.040
75,607
1,419,p16
2,000.000
6,588,930
2.823.759
S 57,991,303
S 4,991,159
132.187
328,503
90.351
2.823,T59
t.435.164
9.801.123
16,643.777
2.000.000
6,588.930
13,533,644
(355.882)
2.573.094
7,006,617
4a,��o,�ao
i�,464,363 t 4,009,016 S 44,517,�24 : 57,091,303
45
�
PALM DESERT REDEVELOPMENT AGENCY Sch�dule 2
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2006
Revenues:
Taxes
Otherrevenue
Rentat income
►nvestment earnings
Total Revenues
Expenditures:
Current:
General government
Public works
Capital outlay
Payment to other agencies
Debt service:
Interest and fiscal charges
Total Expenditures
Excess of Revenues Over
(Under) Expenditures
Other Financing Sources (Uses):
Sale of property
Transfers in
Transfers out
Transfers out to City of Palm Desert
Total Other
Financing Sources (Uses)
Excess of revenues and
other financing sources
over 4under) expenditures
and other financing uses
Fund Ba�ances - Beginnmg of Year
Fund Salances - End of Y�ar
�
Housing
Authority
Special Debt
Revenue Service
Fund Fund
$ - S 3.442,566 $
120,779 -
4,622,306 -
227,715 88,588
4,970.800 3,531,154
6,895.326
6,895,326
3,471
1.902,3T4
68,623
1.974,468
Capital
Project
Fund Totals
- i 3,442,566
57,251 178,030
- 4.622,306
1.500,984 1.617,287
1,558,235 10,060,189
3,064,085
6,747,841
5,465,219
15,277,145
9,962,882
6.747.841
5.465,219
1.902,374
68.623
24,146,939
(1,924,526) 1,556,686 (13,718,910) (14,086,750)
- - 2.670,000 2,670.000
1,309,691 - 14,432,797 15,742,488
(� ,309,691 � (982,701) (5,090,648) (7,383.040)
- - (�4,381) (14,381)
0
(1,924,526)
7.049,'116
(982,701) 11,997,768 11,015,067
573,985 (1,721,142) (3,071,683)
1,999,867 42,212,880 51,261,863
S 5,124,590 S 2,573,852 S 40,491,738 S 48,180,180
4S
�
THIS PAGE INTENTIONALLY LEFT BLANK
�
47
m
�
PALM DESEFtT REDEVELOPMENT AGENCY
COM@INING BALANCE SHEET
HOUSING AUTNORITY SPECIAL REVENUE FUND
Jun� 30, 2006
ASSETS:
Cash-checkmq
Cash • trust
Cash - petty
Accounts receivabl�
Oue from other apartment
Interest recaivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
L
LIABILITIES:
Accounts payable
Due to otner apartment
Secur�ry depasfta
Accruea manaqement fees
Accrued payroll
Oue to other funos
Unearned revenue
TOTAL LIASILITIES
FUND BALANCES:
Reserved:
Encumbrances
Low income purposes
TOTAL FUND BALANCES
TOTAL LIABILITIES
AND FUND BALANCES
Compl�x�s
Lapuna Catalina Des�rt
Capital Palms G�rd�ns Point�
5,631.�49 - 87,863 43,014
. 2.110 24,104 22,38a
- 200 �50 150
- - - 3,372
67,126 - • -
i 5,6�a,2T5 S 2,310 s 112,117 S 66,�20
S 843.676 S 3.256 S 8.892 S 14,155
. - 600,097 - -
- 2.�10 24,104 22,384
- 1,536 2.304 2.048
- 3.074 a,107 5,666
- a3 25 6,248
843,676 610,086 39,432 50,501
5,490,472 - - -
(625.873) (607.776) 72,685 18.419
4,E54,S� (g07,776) 72,6E5 18,419
S 5,6�8,2T5 S 2,310 t 112,117 S 68,D20
48
5ch�dul� 3
��
�
Compl�xes (Continu�d)
Las On� Califomia Country Total Comblr�d
S�r�nss N�ighbors �uall Puebtos Villas 7aos Vlllap� Compl�xes Total
a89.865 1,916 - - - - - 622.658 S 6,253,807
45,5a8 8.265 �54.97A 5,130 33.9i6 7,427 9.645 313.503 3t3,503
350 50 350 - 250 50 150 1.700 �,700
yt� - 885 - • • - 4,468 4,468
319,810 - 2.503,949 - - - - 2.823,759 2.823.759
- - - - - - - - 67.126
i E55,7S4 S 10,251 i 2,660,15! S 5,130 S 34,186 t 7,477 t�,795 S 3,766,oaa 59,464,363
S 18.607 S 3,012 S �03.128 S 1.987 S 66,134 S
- . - - t�7.041 2,�18.384
45,5a8 8.265 154.97a � 5.130 33.916
4,704 768 12.256 480 4,512
8.960 857 36,470 848 9.999
679 97 14,500 19 4Z8
78,A98 12,99� 321,328 115,505 2,133,3T3
777,286
nr.sas
6,077 S 2,668 S 227,916 S �.07t,592
79,199 t9,038 2.623,T59 2,623.759
7.427 9.645 313,503 313,503
512 2.500 31,620 31.620
1,'24 3,769 74.574 74,E74
a60 1,956 24,425 24,425
�4,7�� 3�,5T6 3,4�6,0�7 4,33�,7T3
(87,322) i29,781)
(37,3Z2) (2�,7b1)
- 5,480,472
269.991 (355,882)
269.��1 5,1�4,5�0
S 855,784 S 10.231 S 2,660,158 S 5,130 S 34,168 S 7,477 S�.7�5 f 3,766,088 S 9,464,363
(2,768)
(z,7ea�
2,338.830
2,3se.aao
(110,375) (2.099.207)
���o,s�s} �2,00�,20��
49
�
PALM DESERT REDEVELOPMENT AGENCY
COMBINING STATEMENT OF REVEHUES, EXPENDITURES AND
CHANGES tN FUND BALANCES - kOUStNG AUTFIORITY SPECIAL REVENUE FUND
For the y�ar �nd�d Jun� J0, 2006
�
�
REVENUES:
Rental Income
Otherrevenues
Investment earnings
TOTAL REVENUES
EXPENDITURES:
Current
Payrou
Administratrve
Management
Cap�tai outiay
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES:
Transfers in
Transfers out
EXCESS OF REVENUES AND
OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES
FUND BALANCES - BEGINNING OF YEAR
FUND BALANCES - END OF YEAR
Compl�x�s
Lapuna Cataltna D�s�rt
Capital Palms Gard�ns Pointe
S - S 78,535 S 251,250 S 259,242
10,000 4,122 1,747 8asa
227,715
237,715 d2,857 252,9�7 267,706
- 91.320
27,292 123.531
- 18,432
5.301 22,997
32,5�3 256,2a0
75,800 43.280
185,329 177,839
27,616 14G,054
- 801
28d,745 325,974
205,122 (173,623) (35,74a) (58,268) •
(1.309,691) - . -
(1.104,569) (173,623) (35,748} (56.268)
5,859.168 (434,153) 108.433 76,687
S 4,E54,S99 S 1607,7T6) S T2,6E5 � 1E,419
50
Sch�dule 4
0
Complex�s (Continu�d)
Las Ona Californis Country 7otal Combin�d
Serenas N�iqhbors Qua(1 Pu�b{os VII{ss Taos Vfllap� Complaxes Total
S 660.859 S 118.718 S 2,416,547 S 49,779 S 486,391 S 88.98� S 210,004 S 4.622.306 S a,622.306
a.�6� 4,178 73,923 171 9,912 2,668 1,433 1�0,779 '20.779
- 227.715
665.020 122.d96 2,490,470 4�.950 49a,303 �1,649 211,�37 4,T33.Oe5 4,970,E00
57,868
377,�52
159.823
878
595,721
69,299
18.61� 228,�39
142.826 1,155.433
9,152 657,925
- 5p7.468
170,5E� 2,61a,965
14.316 162,706 19,305 25,817 737,162 737,162
72.129 713,705 �08,354 185,090 3,241,388 3,268.680
5.728 54.112 5.856 27,099 1.069.797 1.069,797
89 1,268,691 - 13,462 1,8�4,386 1,819.667
92,262 2,180,214 133,515 251,4a8 6,a62,T33 6.e�5,326
(4T,693� (56,495) (42,312) (1,700,911) (41,d66) (40,031) (2,129,648) (1,924,526)
- 507,125 - 792,316 - 10,250 1,309,691 t.309.691
- • - - - - - (1.309.691)
69,299 (47.693) 448,630 (42,312) (908.585) (a1,866) (29.781) (819,957) (1,924,526)
707,987 44,925 1.890,200 (68,063) (1.190,612) 145,456) - 1.089.948 7.049.�16
S T77.286 S (2,768) f 2.338,630 S(110.375) S(2.09�,207� i �aT,322) f(29,7a1) S 269,991 L 5,124.594
. ,_ . . _ ._ _ _ . . -
51
a
n
-`
PALM DESERT REDEVELOPMENT AGENCY Schedule 5
COMBINING BALANCE SHEET - OTHER GOVERNMENTAL FUNDS
DEBT SERVICE
JUNE 30, 2006
Assets:
Cash and investments
Accounts receivable
Prepaid costs
Total Assets
Liabilities and Fund Balances:
Liabilities:
Amount due - pass-through agraements
Total Liabilities
Fund Balancez:
Reserved: .
Prepa�d costs
Unreserved:
Debt service
Total Fund Balances
Total Lfabllltf�s and Fund Balances
Project
Area 3
� 3,937.395
70,863
758
S 4,009,016
� 1,435,164
1,435,164
758
2,573.094
2,573,852
S 4,009,016
Totals
$ 3.937,395
'10,863
758
S 4,009,016
� 1,435.164
1,435,164
758
2,573,094
2,573,852
S 4,009,�16
52
�..
PALM DESERT REDEVELOPMENT AGENCY Schedule 6
COMBINING STATEMENT OF REVENUES, EXPENDfTURES AND CHANGES IN FUND BALANCES
OTHER GOVERNMENTAL FUNDS - OEBT SERV(CE
FOR THE YEAR ENDED JUNE 30, 2006
0
Revenues:
Taxes
Investment earnings
Total Revenues
Expenditures:
General government
Payment to other agencies
Debt service�
interest and f�scal charges
Totat Expenditures
Excess of Revenues Over
(Under} Expenditures
Other Financing Sources (Uses):
Tcansters out
EXCESS OF REVENUES AND
OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES
AND OTHER FINANCING USES
Fund Balances - Beginning of Year
Fund Batancez - End of Year
Project
Area 3
5 3,442,566
88, 588
3,531,154
3,471
1,902,374
68,623
1,974,468
1,556.686
(982,701)
573.985
1,999,867
S 2,573,852
Totals
3 3,442,566
88,588
3,531,154
3,471
1,902,374
68,623
1,974,468
1, 556,686
(982.701)
573,985
1.999.867
S 2,5T3,852
53
m
�
PALM DESERT REDEVELOPMENT AGENCY
�
COMBINING BALANCE SHEET - OTHER GOVERNMENTAL FUNDS
CAPRAL PROJECTS
JUNE 30, 2006
Proj�ct Proj�ct Proj�ct
Ana 1 Ana 2 Ar�a 3
= 6,986,774 S 4,074,057 S 2.818.218 S
2.608,403 918,872 3.067.8t6
276 - -
1.176,885 4.691 12,198
588,172 6.000,000 -
i'11,360,510 S 10,oO7,62D i 5,8�E,262 S
ASSETS
Cash ancl investmenls
Cash wiih fisca� agent
Recenrabies
Accounts roceivable
interest rece�vable
Notes rece�vable
Due irom other governmentel egencies
Prepaia costs antl Ceposits
TOTALASSETS
LIABILITIES AND FUND BALANCES
�
Schedul� 7
Proj�ct
Ar�a 4 Totals
- S 13.879.Ot9
14,iO3.416 20.698,537
- 276
t 58,116 1.351.890
2.000,aoo z.000,000
- 6.588.172
16.281,SS2 S 44,517,924
LIABILST{ES:
Accounts payab�e S 2.782,153 S 197,03� S 16.852 S 923,43� S 3.919.567
Accruea I�abiilnes 25,883 � - - - 25,693
Depos�ts payab�e - - - 15.000 �5.000
Unearned revenues - - - 65,926 65.926
TOTAL LIABILITIES 2,807,846 1�7,031 16,�52 1,004.357 4,026,186
FUND BALANCES:
Reaerved:
Notas receivabie - - - 2,000,000 2,000.000
Prepeid cos�s an0 deposits 588,172 6.000.000 - - 6.588,172
Enc�mbrences 1,725,555 3,083,163 - 6.574,587 11,363,305
Conunuinq appropriations 7,a49.671 2.583,296 3.500.677 13,533,6a�
Unreservev.
Desgnated tor cap�tai ouUay - - 5,881,310 3,18�.91� 9.063,221
Unoesignated (1,210,734� (845.870) - - (2,056.604}
TO7AL FUND BALANCES 8,552.664 10,800,589 5,881,310 15.257.175 40.4g1,736
TOTAL LIABILTfIES AND FUND BALANCES i 11,360,510 S 10,0�7,620 f 5,8�8,262 S 1E.Z61,532 S 44.517,924
54
PALM DESERT REDEVELOPMEHT AGENCY
� COMBINING STATEMENT OF REVENUES, EXPENDI7URES AND CHANGES
IN FUND BALANCES - OTHER GOVERNMENTAL FUNDS - CAPITAL PROJECTS
FOR THE YEAR ENDED JUNE �Q, 2006
�
REVENUES:
�nvestment eaminps
Otherrevenues
TOTAL REVEHUES
EXPENDITURES:
Genera� government
PUbUC WorKS
Principai reUrement
tnte�est and fiscai charpes
Capital outiay
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER
tUNDER) EXPENDIiURES
OTHER FINANCING SOURCES (USE3):
Sale of proparty .
Operating transfers ir
OperaUng transters o�t
Operating transfe� in from the City o� Paim Desen
Operating transfer out to tne City of Patm Desen
TOTAL OTHER FINANCING
SOURCES (USES}
EXCESS OF REVENUES AND
OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES
AND OTHER FINANCING USES
FUND BALANCES - BEGINNING OF YEAR
FUND BALANCES - END OF YEAR
Schedul� 8
Proj�ct ProJ�ct Proj�ct Project
Ar�� 1 Ar�s 2 Ar�a 3 Ana 4 Totals
S 564.143 S 219.481 S 114,817 S 582,443 S 1.500,984
5,001 - - 52.250 57.251
589,14a 218.481 114,917 634.693 �,558,235
2,454,225 327.818 121.358 160.684
3.364,171 3,231.d48 12, 329 139.893
3,206,780 a6,169 2.212.270
9,025,'t76 3.605,435 133.687 2.512,847
3.064.085
6,747,841
5,465.219
1 S,277,145
(8,436,032) (3.385,954) (18,770) (1,878,154) (�3,7�8.910)
- - 2,670.000 - 2.670,000
5.424,664 7,628,359 7 1.379.767 ta,432,797
(4,688,511) (254,858} (30,359) (116.920) t5,�90,648)
- - - (14.381� (14.381�
736,153 7,373,501 2.639.648 �.248,466 11,997,768
(7,699.879) 3,987.5a7 2.620,876 (629.688) (1.721.�a2)
16,252.543 6.813.042 3.260,432 15,886,863 42,212,880
S 5,552,664 i 10,EOO,Ss9 S 5,aa�,J10 515.257,175 S 40,4D1,73E
�
55
L
PALM DESERT REDEVELOPMENT AGENCY
COMPUTATION OF LOW AND MODERATE
HOUSING EXCESS SURPLUS FUNDS
AS OF JUNE 30, 2006
Schedu{e 9
._
0
Excess Surplus in the Low and Moderate Income Housing Fund is any unexpended or unencumbered
amount that exceeds the greater of either 51,000,000 or the aggregate amount deposited +n the Low and
Moderate Income Housing Fund during the preceding four fiscai years. It is cornputed at the beginning of the
fiscai year to which it relates.
Fiscal
Year
2001-2002
2002-2003
2003-2004
2004-2005
'fotal
Base Limttatfon
Greater Amount
Fu�d Balance ot the Low and Moderate
Income Housing Fund - July 1, 2005
Less: Unavailable amounts
Encumbrances
Loa�s a�d notes receivable
Property held for resale
Prepaid items and deposits
Advances to other funds
Available Fund Balance of the Low and Moderate
Income Housing Fund - July 1, 2005
Computed Excess Surplus • July 1, 2005
S 1,000,000
0
Tax Increment
Deposits to
Housing Fund
$ 9,057,701
10,049,970
11, � 98,956
.12,402.800
S 42,709,427
S 42.709,a27
41,057,914
6,566,424
7,841,586
574 ,933
2,768
S 26,072,203
i -
�
REDEVELOPMENT AGENCIES
FINANCIAL TRANSACTIONS REPORT
COVER PAGE
City Of Palm Desert Redevelopment Agency
0
Fiscal Year 2006
ID Number:
13983362100
Sub ' d by:
�
Signature
�Qul S, (�,�bse,�
Name (Please Print)
r lI�I4NCt
Title
�2�/06
Date
�Irt c h1r /%r��cr✓�✓
Per Heatth and Safety Code secUon 3.'i080, this roport ts due withm six months aRer the end d U►e liscat year. The report �s to
indude two (2) oop�es d the agencys component unit audked Iinandal staternents, and Ihe repoA on Ine Status and Use d the Low
and A�bderate Income Fbusin9 Furxf (HCD roport) To rrieet the 61mg requirements, all portions musl be received by Ihe CalHania
State Controllers Office
To file electronical{y:
1. Compete all fortr�s as necessary
2 Transmit the completed output 111e using a Flle
Transfer Protocd (FTP) propram or via dskatte.
3. Sgn Ihis cover page and mail to either address bclow
with 2 audits and the HCD report
To file a paper reporl:
t. Complete all fortns as necessary.
2 Sgn this oover paga, and mail oomplete report Uo eiU�e+ address
below with 2 audds and the HCD repal.
Report will not be considered 61ed until receipl of this
signed cover page.
Mailing Address:
State Controller's Office
Division of Accounting and
Reporting
Local Government Reporting Section
P. O. Box 942850
Sacramento, CA 94250
Express Mailing Address:
State Controller's Office
Division of Accounting and Reporting
Local Government Reporting Section
3301 C Street, Suite 700
Sacramento, CA 95816
A�ENCY: Palm Desert Redevelooment Aaency
�
MAILING INSTRUCTIONS
FOR REPORTS REQUIRED BY STATE LAW
• , „��'1 • ' „ �,��r_T�3�;C�1�-�
REPORTS DUE BY DECEMBER 31 OF EACH YEAR - Aysncy must complete and transmlt to State Controller an Annual
Repo�t, as specifled in Section 33080.1 of the Health and Safety Code. This report must also be uresented (submitted)
to the Governing Board by thls date; however, no action by ths Board is required to be taken. The report includes:
1) Controller's Report
2) Audit Report
3) HCD Forms
4) A listing of, and status report on, all loans over i50,000 that in the previous year were in dehult or not
in compliance wkh the terms of the loan
5) A description oi the total number and nature of the properties that th� aq�ncy owns and those acquirod
in previous fiscal year
6) Blight Repo�t (no speciffed format)
7) My other information necesssry to explain its proDrams.
Send to State Controller's Otfice at the following addresses:
�
Regulsr Mail:
State Controller's Office
Division of Accounting and Reporting
Local Govemment Reporting Section
Redevelopment Reporting Section
P.O. Box 942850
Sacramento, CA 94250
Expr�ss Mail Addnss:
State Controllers Office
Division of Accounting and Reporting
Local Govemment Reporting Section
Redevelopment Reporting Section
3301 C Street, Suite 700
Sacramento, CA 95816
(a) Sign and date the Cover Page. This page was produced when we created the output flle from the State ConVoliers
Automated filing system. We have electronically transmitted your report to the State Controller's Office. A copy of
that report is attached for your files. Attach sianed coules of th� Ststemsnt of Indebtedness flled October 1.
2006 to the Cov�r Paae urior to mailina.
(b) Two copies of our Audit Report covering Financial and Compliance Audits.
(c) Complete Housing and Community Development Forms. In most cases, we prepare a summary computation of the
financial data for these forms. This is part of this email. This information for your agency, transfer that information
to the HCD forms once you have determined that the amounts are proper and do not require additional breakdown
� or classification. You will have to breakdown Transfers InlOut into the va�lous purpose for which ths
Tnnsfers were mad�.
(d) Bureau of the Census survey form (Supplement to the Mnual Report of Community Redevelopment Agencies).
MAIL ALL OF THESE TO THE ADDRESSES NOTED ABOVE
�
(Rev 10/05)
�
.�
Supplemental to the Annual Report of Comrounity Redevelopment Agencies
— For the Fiscal Year Ended June 30, 2006
Redevelopment ARency ID Number: 13983362100
Name of Redevelopment A�ency: Palm Desert Redevelopment A$ency
The U. S. Bureau of the Census requests the following information about the fiscal
activities of your govemment for the 2005-2006 fiscal year (defined from July 1, 2005
through June 30, 2006). Governments fumishing this information will no longer receive
U. S. Bureau of the Census Form F-32, Survey of Local Government Finances. If you have any
questions, please contact:
U. S. Bureau of the Census
Elizabet6 A. Bethoney
1-800-242-4523
A. Personnel E:penditures
Report your government's total expenditure for salaries and wages during the year,
including amounts paid on force account construction projects.
� ZO�I None
`- B. Mortgage Revenue Bond Interest Psyments
Report your government's total amount of interest paid on mortgage revenue bonds
during the year.
� U20 � Unknown �
US Burau of Census - Revised 052005
i
r
G�n�ral Infortnadon
FkcalY�ar � _..-- -- -- - -- -- ---- - - --
AMmb�rs ot tM Govrminp dody � Ap�nty Olflclals I
M� Last Man» First NarrN MMdN PhorK {
L.ast N�r� Ftrst q�n� InItW
Chakp�rsoe �er9u� - - - Jan�es - _ C Ex�cutlw Dinetor 'Orteya
M�mb�r 1�1► - --- R�iNiard �S Fiscal 011fc�r �GiDson
MMr�Mr Spieyd - -- Robert - A i 3�crM�ry IO�saen - -
IMmb�r �CrKes =- IBuford- -- � IA Rpat P�par� B�r
IMmb�r Bd�son I�^ _ M FMm Nam�
M�mb�r - - - - � - - �t IPatka
M�rt�r - - - _ - _ _ First Da►ald _
M�mb�r - - Mid� Inidal L -
M�n�r - - - - - - -� . S� ,203 N. Brea BMd.; Sle. 203
IrMmb�r _ - - - C� �Brea -- -
MaNinq Addnss
SUwt 1 �73510 Fred 1Narirq Drive __ __
StrNt 2 - - - - — -
C� �palrn peseR 3LM IG1 Zfp '9226a257s
Phorn (760) 316�611 ,� Is Addnss Chanp�d�
sr.a
Zfp Code
Phon�
CA - - -
�szaz�-�oss
(714) 672-0022
Initlal ;
Gtlos t (760) 34�0611 , �
�Paul �S �f760)34fr-0611 �
Ra[',Ix.#e - - � - (760) 34�0611 �
Ind�p�nd�rk Auditor �
Lana. So1 and Lurqhard. CPAs �
Parker '
°°�- - 1
L
- _ i
203 N. &ea BMd., Suite 203 I
-- - - - - '
&ea _ i
CA
s2a2»oss � I
(714) 672-0022 - I
- - - !
�
General Iniom►atbn Pape 1 12H42006
�
Achi�vement Informatlon (Unaudited)
Fiscal Yqr 2006
Through the use o( fax incrornenL Ihe Palm Desert Redevelopnment Apency hes bsen �uccessful in alleviatiny bipM in all o( the
rodevebpment pnjed areas. The Aqerx.y has candnusd its elfats bY ��t��D or assistt,y in a,e deveiopn,ent a paroeis
7wt are non-cadortning or have incampatble land uses. 7hese have indudsd such needs as constructirg public tacilities and
anY Prolects lfwt knpact the peneral health and sa(ety of the �esidents witl�in bdh the city arxl the redeveloQment project areas.
The Agency contirx�es b dertanstrate Ifie axnmitrner�t b Palm Desert resideMs and Ib FbaMh and Sa(ety Code by aMeviatinp
Wght with the idbwiny p'ulsds.
LMng DeseR P�rfcinp
1/71I04 Pur�hased an easement to provide pudic parking for the util¢ation a( environmental and cultural programmin4 at Ihe
Lrviny Desert Zoo and Gardens, as weH as acass to roasabonal activftfes Jobs Gene►ffied: Provicled employment for AReen
Peade•
�r zoo�✓2oos �«,aKures s s5o.000
Eslimated Total Cost t 1,250,000
Palms to Pinas East
03/25�W Revitalization elfats in the Gty d Palm Desert's aentral business �istrict donp the HVW 111 cortidor. Renovation
indudes facsde enhahcerr�srrt, business inRll, pudic parkinp imprpvert�ts, lendscape and Ightinp. The Apency is pertnerirg
wilh a pnvate developrr�ent entity to accanplrsh knprovement plan. Prov�ded employment ior approximatey lkty-five peopb.
FY 2005J200G Expendituros: = 1,419,114
� Esbmated Tdd Cast s 2,157,820
WaAaroo Children's Canter
03I25�Q4 Ayerx,y acQuired ris buidinG s�ace P�'s"�+�Y �� es ihe WaMaroo Childron's Center aasisted in ronovation and
leased b Ihe Dsseit Sands Unified SChod D�striCt f0►1he Purposes o( an early cfiildho0d eduCatbn Genter.
FY 2005�2008 Expenclltures: S 49.197
Estlmated Totsl Coe1 S 65,000
University o( Califamia Riverside
2004/2005 Granted a ban io the University d Celifomia Riv�erside far irMraslnxturo rx1 � � . �. . t d oonstruction an the
e0ucafiorml fadky b be bcaied In fhe Cfty d Pakn Desert, a,c aervios r�e enene coaa,ew va��ey and s�.►a,ndr� oesen
Communibas. Pno+�ided .,. ,. t fa sppro�dmatey one h�xidrod people.
FY 20t�5J2a09 �xpendhures i 3,000,000
Estimated Totel Cost S 3,000.000
Aquatb Facility
03131/04 Autt�tzed oonsultanls b desgn a publ�c pod rscneational tacilrty to be ulilize4 by residerris d ria entlre Co�cheMa
VaMey.
FY ?005J200B Expendituros S 6.700
Estirnaled Total Cost =814,450
Stam Drain Impnovements
1 WW03 Stortn drains vrere instalbd d Wamsr Trail. Infi�astruchse b faalkate Ihe oonreyrnoe of stortn rwtar Rnjed Area No.
4 rrio 1he Whke vrafar Ch�rx�el. ,bbs Genersted: Provided employment tor �: � �.,: �,.1y scctY Pe�•
FY 200`a/2008 6cperWNuros S 164.162
EsUmated Total Cost = 3.200,000
�
`..
Achf�v�m�nt Informstlon (UnaudiUd) �
Fiscal Y�ar 2006
Catalina Comrnunky Room
12K16104 Constn�dion began and is 90'/. compete. The CataGna Canm�xwty Room is for use by tha se�ior oortiplaxes tor
recrsational adNities b include sodaliration, techndoyy education, and xoanmodafi�on d addltional social activitiss. P1�ovided
employrnent far approximately lfve peoQle.
FY 200E�l2006 Expend'Rures S 782,189
Estlmated Total Caat S 1.500.000
Desert wllow
2004/2005 Autho�ized reimbursements to Deseit Wfllow tor implementation and construction d ppilal �r�provements b the
Desert Wflbw Golf Camplex.
Joba Generated: Provided :.,.. lor approximately Mteen workers.
FY 2005/200fi ExpendMur'es S 118,581
Estimated Tdal Cost S 3,005,582
Fred Waring Drive Wbeninp
1/22/04 FecWlated the ir�stallation d all r�ecessary infrastrucrire for futurs C.oadielq Valby well aib. Provfded empo�mierK for
approxlmately forty wakers.
FY 2005/2006 Expendflures i 808.278
Estimated Tdal Cast S 2.000,000
�-- Regional Partc
2003/'1004 Rnal�zadon d park master pan, hRiation d oonstniction doaxnents. and canUacted wNh a fmi for oonstnx,�tion
manapenient• Prvvidsd a�npbyn�ent ior aPP��e�Y �Y Pe�•
FY 2005/2006 Experxfilves S 1,0�5,586
Estimated Ta�tal Cost i 8,282,178
Enhade del Paseo
2004!'1005 Complded oonstrtxtbn and apened Ihe 8.200 sq.1l. Vsilor Infam►ttion Center. Landacaped the aroa around the
cenler. and �� . �. .1 desgn d andf� 2.5 �aes oi landscapinp. Cortipleted desipn of Henderson C,ommunity Buildinp and
entered inb DDA b aell a 1k►fsf�ed pad for development d a hiyh and IteNan rostaurant. Provided empbyrrwnt tor appraxhiatey
Ifve woAcers.
FY Z005I2006 E��dMires S 3,217,358
Estlmated Total Cost i 13,000,000
Pbrtola &idpe
200Fi/200E Bepan oonstrudbn d a new 447�oot bnp iouraane br�dpe arer WMtewater Charv�el belwesn Gkidc�ilver Qfv�e and
Magne�ia Fa�ls. rne brays wMl imExave sa�etr br +mprovinp Ihe �toppir�y �iyht astarxe and wll dknina�e any aoeures axinp
hsavy rsinstartns lhat ocarred in Ihe psst. Ft�ovided empbyrnent tor apQroximatsly Ifxee hundrod forty-ihroe watcers.
FY 2005/2006 Expendiluroa: 52,184.186
Estimated Total Coat: S 8.000,000
Underproundnp - P++oject Mea 1
2oo4/zoo5 A�ency ww� contrieute Sa�G to tne Pakr, oesert Fign�ands underyround�np project in tne zoos-2oo7 riscal yesr. No
wakers wsre employed an frs prnjed as d June 30, 2006
FY 2005J2008 Expendittres. S 0
Estimated Total Co6ti 4,500,000
Achi�v�m�nt IrHormaUon (Unaudit�d)
Fiscal Y�ar 2006
Undergroundirq - Rnject Araa 4
2004J2005 Ayency will contribirie funds ao tuture undergroundnp proJects bcated in Projet.�t Aroa 4. No worlcers ware
empbyed an this praject as of June 30, 2008
FY 2005/2008 Expendkuros: S 0
Estimated Total CosL S 6,500,000
Housinp
Laguna Palms A�artments
7��ro3 rZesumed :,carior isnovwions and w dace neve oompeted 21 units. compbted aee ierr,ova� pojsa. Underwa,t uuYty
under pround'np to updete dedrical plen. gas service lines, and phone and cabb conduks fa the entiro compbx. Irpuiriny as
to c�o�on.� a,e�y Pos�;win�. i� u,� �s a sa�� ads ra ��;o� �e�,weu«, a,�c K,a,ded acaa�. �oors �►,d s�e
(mrxoven,enes. appro�xUrwtey eignt empoyrrient apportuni�es.
FY 2005�2006 ExAa►dRuros: S 426,29�
Estimated Total Cost: f 2.044,310
CaINanla Ylas Apnrtments
5/22ro3 Acquirod es an existinp rrxiltttamiy camplex mat posed s�ibstandard oonditions. Property has been underyoinD interior
and exterior ronwations. To d�te. lhe hterias d 120 inMs h�ve been oortipetsy upprsdsd wlth tt�e rerriaininp unils b be
oomPbted by mi�2007. Pf�se A improvemsrNs for Ihe exterior ebnient renovations was awarded tiMrich T006 and renovations
ara well uiderway (e�R7ected oomplefion d this phase ls Jarxwry 2007). ExMtbr kert►s Q�at t�ave hsan canple�ted ate hlnck
�' window iMGI, utiity room buildinp demolition. re-plumbinp of existinq weter hsttars, nsw rod . �: �„. . l dual pene bw .e.
window rapl�cerr�ent, and exterfor eexturo. Phsse B sita improverr�ents wil be awarrJsd b bwsst respons�le bidder and ts
sr.hedulsd to bepin ea�1y 2007.
cumently are lookinp inco phomvd�aic saar en�yr and ou,er ene�y oonssrvations knaementations. under wment
renovMiu�s. several en��py efM1ciern kertis hays been '.� � � �,. a�uch as k�cre�sed inwlation, dwl p�ne windows, etc.
MP�'o���Y �b erripbyrns�M aoPo�hxw�es were aeoted irom this ... � � ...
FY 200612006 ExperWAures:i 888.447
Estimtted Total Casti 9.�.�
Pakn ViNape �partrt�ents
2004/2005 Palm vwtge apartrrienls is a new P�� Ihat is nsadnp oompetion of oo�utruction tor a multi-tamiy campbx eiat
wlll produos 38 rontal Units d dfadabb t�sin8 !O ve�Y bw and Iaw-inoome houseFiolds. Durirg FYOr08, ths project has
9«�e !rom !� iramisq pc►asa thsa� s�e aoct«�or lalna wak done. Es�blishsa w.n Ysts tor two (2) bseroom urrts ww� e�i �
Completirg occupanCy. A�proairrldely 120 ,��' ,., apporttxllfle6 wsre Croeted fi'om this developrtient.
FY 2005�2006 ExpsrWkuros:i 3,fl3o,215
Estimated Total Coati 8.�.��
Acquisition and R,ehabililation Ropram
711IW Prar�ded 1k►endal asslslance Sa the �cQui.tillan d subslar�derd horties arxl titiaCil'Aation in ader 10 r�esab 10 very bw,
�wv. and moderatsarxoms nouseho+ds and v�ervs afr«dawe na.es�q aralabiity. ouriny this y�s.r, two (2) r,omes, �efarea
as San Merfno Property and Gobta Property. we�e essrsced mraqn u,+s ao�rm and rer►awnabo�, ��x�derwar m�;n� boa,
har�es 10 oode star�rds �nd meke K avaii�bls for honieovrr�'ahiP tar a rtbdsrate and a very lowincar�e famiN. Desert Roae
project oonsisted d 11 resales d wf�ich were also providsd Ananci�l asaisiance to prsserve aRard�We for-ssb housirq
availadlRy. ApproxirnateN one emPbYr►�xn aPPa1�Y � a'�ted irom Oiis ds�elopment
FY 2005I2006 Experxikuros: S 986,381
�stlmated TWai Cost S1.2Q3.805
Fbme Improvemerd Program
�.
Achi�v�m�nt Iniormatlon (Unaudit�d) �
Fisal Y�ar 2006
1997 The poyram has bsen successtul, and conUnues b offer a vanaty d yrants and bans to very bw, low, and moderate
inooma, and has yrown dramaticaly, knpro�ing hort�es and neiyhborfaods IhrouphaR Pakn Desert. This propram has helped
households Ihat would olf�wise not be avaiaWe So maintain and irtprove ths ament haninp oondifion ar he� wNh oode
violatans In addi6on, due to �e gro�Mrg demend d the pnyram, the Ag�r�cy hos aaitrscted Rar��o F�buskg Alltance as rie
Proyram AdminisUator to manape the program. Appnoximately sev�entesn empoymsnt opport�riftles wene peated hnm Ihfs
� .�. . 1.
FY 2005J2008 F_xpendNtxss:i 57.243
Esbmated Total Cost:i 318.758
Coun7y Yltape AperUnents
Sept 2005 Aoquirod on September 30, 2005 in order lo meintafn the propertys vfabiNty and to �nain alfadabie. Completed
improvernents that incMide iaundry rc�om upprodes, replacement d elachical flrar�d Iphts. Assessinp the axistirq oonditlon d
fhe property. Certilications of applications submitbd by exisEnp tenants have been reviewed fa elipiWky. Ths /lpency is
��9 P�'�essional servioes to assist in evaluatlnp R�e devsbpment poleMial (or the propeRy. No wakers w�ene employed ss
oi June 30, 2006.
FY 200.5/2008 Expenditures:i 4,624.719
Estimated Total Costi 4,�84,�89
Fsicon Cresl and La Roa;a ViNas
July 2005 Provided firwidal assistance to the developrt�eM fa the cansUtx.�tion d 93 new sinple-(amily har�es and 27 nsw
� senior apartrnent aomplexes in tHs projed. Completbn d this work has been assigned b a dsvebper tor Ihs constnidion.
me goa� tor Faic«, crssl �s eo r,ave mode� nomes re�dr br e�Nr 2007 ana r,e project to te tuUr oar�pMted M esAr 200e.
Canstrucrion d the site currently received the fnal precise pradirg pan apprwal and pertnils have been is,wed.
Rnsl oonsfnction dedpn devslo�xnent cta�Mrgs ta L� Roca Senior Vllas h�ve bsen rsoeived hom ara�ibd. StiN pendinp is
Ihe evakia6on d Aro prolection. The yoal ior La Roxa Seria VINas is to be fully oortplded by Ihs end d 2007. ApproxknateN
1�Y �P�f�K aPP��r�itles wero aeated irom fis ... � � .,.
FY 2006/2008 Fxpendihires:S 6,804.853
Esdmated Totd Cost: S 25,000,000
0
, { ( �
FMeal Y�ar 2006
Wis ihe Report Pnpared irom Aud'Red Fkw�dal Data.
and Did You Submit a CoPY of Ihe Audk�
Indicats Firwndal Aud'R Opinbn
If Financial Audit is not yet Completed.lM�at is !he
E�ecEed Cortipletlpn Dale7
M#ie Audit Opinbn was OMier tban Ur�ial'i1bd. Stabe
Brfewy IAe Reison Giren
W�s a Comd�nce Audit Perbrtned in Acoordsnce wrlh
Hsal� and S�feiy Code SecSon 33080.1 xd the State
ControMers Guideines tor CanpFtnoe Audks, and Did You
Subrrrt a Copy oi the Iuxfit?
Indicate Compi��ce Audi Opitrati
M Compifonce Audit is not yet Cortqbted. What is the
E�ected Campietion Date�
AadH Inlbrrriation
Audit Infortt�atlon
Yes
UnquaMffed
Unquailbd
Yes
Pape 1
M oomptance opinion indudes ezaeptlons. state
fhe areas ot norwomphonce, and descrfbe Ihe
ape►wYs efforts io correc�.
12/1�/2006
� ( (
Fiscal Y�ar 2006
Pb�se Provide a Brief Description of
1hs Actirities for tfiis Project Area
Dtxfnp Ihe Reportirp Year.
Proj�ct Ana R�port
Proj�ct At+�a Nam� Consolidatad Low and Modente Income
LHousing Funds �
Forvwrded hom Prfor Year 7 i;��L�ii�•!'��li,�:�iu.��;
Enter Cade for Type of Rnjed Aroa Report L,
Ac1MN Repor � P= StandaM Projxt Area Repat A= Adminicfrative Fund
L= Low snd Moderale k�car�e Haairg Fund M= Matgage Revenue Ba�d Propram
O= Olf� Miscelar�eais Funds or Proprams S= Proposed (Survey) Projed Area
Does the Phn Irxiids Tax Inc►ert�ent Provtsionsl
Daie Project Area rras Estabished (MM-0QYY)
Most Reoent DNe Project �4e� was Artiended — -
Did t�is M'iendrt�e�t Add New TertMayT
Most Recern Dale Pivject Area was Merped --�
IM1� IHs Project /lrea be Cartbd Farward to Next Yeaft Yes
�a�sn.a rr,+. ��c :
Rep�yrtbrd of kideblednass (Ysar Only)
E}ledhreness of Ppn r�. o�y�
rrew Mdetladness rs,r onyl
Size of Projed Aro� in Acros �
Perosntge of Land Vscant at Ihe kiap�tion of Ihe Projed �4ee � ---_-
HeaMh and Safbty Coob Section 33320.1 (xx xSG)
Perosr�ps of l.and Devebqed at the Inceplbn of Ihe Projsct /4sa
FNeld► snd Salbty Code Seclion 333201 (xx x%)
Objectbes o( Ihe Project Ne� as Sel FoAh in the Projed Area Plan
(Enter the App�opriate Code(s) in Sepusncs es Shown)
R= Residential I= Induafri�l C= Comrr�eial P= Pubic 0= OQ�er
Projsct Mea Report
Pape 1
12/14/2006
(
Fiscal Year 2006
Please Provide a 8rlef Descriptlon of
Ihe Activides fa tltis Project Aree
Durinp IAe Reportirq Year.
ActMN Repor �
Does the Pl�n Indide Tax Inaerner►t Provisions?
Daie Project Area was EstaWished (MII�DD-YY)
Moat Reoent Dala Project Area was Arr�bed
Did ifws MxndrtbM lldd New TertiEay?
Most Recent Oabe Project Mea was Merped
V� tlws Project /lrea be Carried Forward to Next Yeart
EstablkMd Trrn LNnk :
Rep�yr►�erM of k�debMdness (Year On►y)
Effec�reness ot Ppn (Year Ony)
New [ : ::. :..1 ..... (Yeai OnN1
S¢e o( Projed /lrea in /lcrss
Peroentaqe oi Land Vaant at the Incepfion of the Projed Mea
He�Mr and SalEty Code Sedion 33320.1 (xx x•/.)
Peroent�pe of Land Devebpsd at 1he Inceplbn oi Ihe Projed Anea
HeaMr and Salbfy Cods Section 333201 (xx x%)
Objeethres of 1he Project �4e� ss Sd FoAh in tfie Praject Are� Ppn
(Enter Me Appiopria�e Code(s) �n Sequence as Snown)
R= Residential I= IndusMal C= f;ortxr�err.iai P= PubRc O= Olher
Proj�ct Ana R�port
ProjQct Ana Name �Palm Des�rt Financing Authority
Forwarded irom Prior Year 7 ���„!T►�•'� i•.��1itl
En1er Code for Tppe oi Praiect Area Report — a
P= Shndard Project Area Repat A= Administrative Fund
L= Low and Moderate kioortb F�ousirq Fund M= MoRqape Revenue Bond Proqram
O= O?ier Miscelaneo�n Furds ar Propnms S= Proposed (Survey) Project Aroa
Yes
(
Project Aroa Report Ptge 2 12/14/2006
( (
Fiscal Year 2006
Pisase Provirb a Brfef Desaiplion of
the llctivitles fa Ihis Project /lrea
DurRg Ihe Reportlnp Year.
ActivfNr Repor �
Does tlu Phn Inc�ide Tax Inaertient Provisions?
Date Projed Msa vras Estab�ched (MM-0D-YY)
Most Recent Date Rojed Msa was Amended
Did lhis Nnendment Add New TertiEay?
hlost Reoe�t Dabe Project Ar�ea was Me�ped
1M Ihfs Project /4ea be Cartied Forward b Next YeaR
EshblisMd TMn� Umlt :
Repeyrnent of Indet�edness (Year Onfy)
Effectiveness of P1an (Year Ony)
� ��� (Year Onfy)
Stze of Project Mea in Aaes
Perosntape oi Land Vsant at Ihe Inceplfa� of lhe Projed Aree
HeaRh and Salbty Code Sectan 333201 (xx.x%)
Peroenbpe d Land DeveloQed at 1hs Inceptlon of Cie Prqect Area
Heal� and Salbty Cods Seclion 33320. f(xx.x•�G)
Objecti�es of Iha Proje�ct �Ve� as Set For1h in 1he Projsc! Area PMin
(Enbr the AppropriaM Code(s) in Sequence as Shonn)
R= Residenrial I� IndustrW C= Commercial P= Pubic O= OC�
Proj�ct Ana R�port
Proj�ct Aroa Nams �Project Aroa No. 1
Forw�nied hom Pria Year 7 �,��13�.p' � YAt,
Enter Code tor Type of Project Area Report P
P= Stsndard Projed Mea Report A= Administrative Fund
L= Low and AAoderate k�oane Haisirq F�xd M= NbRqape Revenue BorW Program
O= OIF�er Miscelaneoin Funds a Proprams S= Proposed (Survey) Project Area
Yes
7/16/1975i
2/27R003
_ �
Yes
2032'
2022
2032
5,820
20.0
80.0
RCP
(
Proyect Area Repcxt Pape 3 12/1412006
r
Fiscal Y�ar 2006
Please Prvvide a Brief Description oi
the Activities for IMs Projed Mea
Dunp Ihe Repatlnp Year.
Acttiilv Repor �
Establfah�d Tkr� LhnR :
Repayrtisnt of k�debbedness (Year Only)
E}fectiveness of Plan (Year ONy)
New kt . . , � . � .. � (Year OnM
Size o( Projed Area in Aaes
Pe�entpe of Land Vaiaint at C�e Incep4on ot the Project Nea
Hsa!!h and Salbty Cods Seclion 333201 (xx x•�G)
Peroentepe d l.and Devebped at Ihe Inoeptbn of Ihe Project Area
Healfh and Selbfy Coas Sec1►on 333201 (xx x%)
Objec.ti�es ot Ihe Projsci Nea as Sat FoAh in the R+oject Mea Plan
(Entsr the Appropriate CoOe(s) in Spuenoe as Shown)
R= Residendal I= Industrial C= Commerc.ial P= Public O= Olfier
Proj�ct Ana R�po�t
Project Aroa Name IProject Ar+�a No. 2
�
Forwarded hom PrforYear? � �x`:�4:`• �i. :�'f�
� ....
Enter Code ia Type of Project Aroa Repat p
P= Standard Project /lrea Repat A= Admir�istrafMe Fund
L= Low and Nbderale Inoar�e Housinp Fund M= Matyaqe Revenue Band Proyram
O= 01her Miscclanean Funds or Proqrams S= Proposed (Survey) Projed Mea
Does the Phn IncYide Tax Inaernerrt ProvisionsZ Yes
Da�e Project Mea was Eshbished (MM-0D-YI� 7H 511987
AAost Reoent Q�le Project Area was Amended 2R72003�
Did fhis Misndrt�ent Add New Territory? No
Mat Reoent Date Project Area was Mc�ped --
VV� tl�is Project Anea be Grtied Fawrard b Next Yeaft Yes
2038�
2028
2038
2,927
d5.0�
15.0
RCPO
� :
R'ojeCt �4ea Report Pape 4 12/14/2006
� �
Proj�ct Ana R�port
Fiscal YQar 2006 Project Aroa Name �ProjQct Area No. 3
I
Please Provids a Briei Desaiption of
Ifie ActivNies for this Projed Msa
Dukp the Repa6tg Yex.
AdkfN Repor �
Does the Phn Inc�ide Tax Ir�ae�rient Provisions?
Dafe Project Aroa was Estab�shed (MA�DD-YY)
Most Reoent DNe Projed Mea was N►�Kfed
Did lhis Misndment Add New Tertilory?
AAost Recu�t Date Project Area was Merped
VI� this Project Mea be Grtbd Faward lo Next YafT
EstabisMd Tkn� Limk :
Repayment oi k�deMedness (Year Ony)
E1lsdive�ess of Plan (Ye+r Ony)
� k��� (Year Onfy)
Size of Project Area in Aaes
Peioenhps o( Land Vaant at 1he k�ceplion of Ihe Project Area
HeeRh and Saiiety Cods 3eclion 33320.1 (xx.xY.)
Pe�centaqe of Land Devebpsd at C�s Incepfbn of Cie Project Area
Healfh and Salbfy C,ode Seclan 33320.1 (xx x%)
Objectl�res d Ihs Project Area as Set Fohh n the Ptoject Arra Plan
(Enter ths App►opriste Code(s) m Sepuencs ss Shown)
R= Residential I= Industrhl C= Cortrr�;rcial P= Pubic O= OC�er
Forwarded hom Prbr Year ? � ;�. ,� ��'x'.I� '�N
ErHer Cods for Type ot Project Nea Report P
P= Standard Projed Anea Report A= Administrative Fund
L= Low and AAoderate M�cart�e Hot�sinp Fund M= Matpaqe Reverxu Bond Program
O= Olher Misalaneals Funds or Pto�ams S= Proposed (Survey) Project Area
Ya
— - - - �rzs��ss�
2/26/2004
— — No
Yes
2042
2032
2042
764
25.0
75.0
RICP
(
Project Mea Repat Pape 5 12/14R006
� (
Fhcal YQar 2006
Please Provide a Brfef Desaipfion ot
ths AcWkbs for tlrs Project Arra
Durhp the Reportirq Year.
ActMM�r Repor I
Does the Plri Inckide Tax Inaertxnt Piovisions?
DMe ProjeCt Aroa was Estabfshed (MM-0D-YY)
Most Reoent Dale Projec! /lrea was Ama�ded
Did Ihis Amendrt�ent Add New TertiEory?
Moat ReoerK Date Project Ara Mras Merped
V1� This R'oject Mea be Grtied Farward bo Nezt Yeaf?
EstabllslMd T4n� Limk :
Repryrt�xK ot h�detkedness (Year Only)
EAectiveness of Plan (Year Ony)
New [ S .: : ..: ..... (Year Onb1
Size of Pro}ect Mea in Acros
Per�ent�pe oi Land Vscant at the Inceptio� d the Project Area
HeaMlr and Salbfy Cod� Secfion 333201 (xx x'L)
Peroentape of land Dereioped at the Inaptbn of the Projed Area
HeaHh end Safbly Code Secbon 33320 1(xx x%)
Objectives of Iha Project �4ea as Sel FoAh in the Projed Area Phn
(Enter the Appropriate Code(s) in Sequence as Shown)
R= Residential I= IndusMal C= Cortxneraal P= PubNc O= Other
Proj�ct Ana R�port
Project Ana Nam� Project Area No. 4 �
— - — - — - - — '
Farw�rded irom Prfor Year ? ���'��.�i
� er� �r ..,. .. _
Enter Code for Type oi Project Area Repat P
P= Standard Project Mea Report A= Administrafhre Fund
L= Low and Moderab kxarb Housirg Fund M= Matqape Revenue Bond Proqram
O= OR�er Mixefaneous Funds ar Proprams S= ProQosed (Suvey) Project Area
Yea
7H 9/1993
2l26R004
No
Yes
— — 2044
2034•
2044
2.260 �
— — —4.0�
96.0
RICP
(
Project Mea RapoR Pape 6 12/14/2006
r
r
Flscal Y�ar 2006
Rnfect Area Narr�e
Frozen Bsse Assessed VaAration
Inenrn�nt bs�ss�d Valwtbn
Tofai Ilssessed Vakiation
Ass�ssM Valuatlon Data
Project /4ea No. 1
664.89fi,495
I 3.911.118.291
4,576,014,786
Assessed Vakiatbn Data Pape 1 12/142006
r
( 1 ( _
Ass�ss�d Valwfion Data
Fiscal Year 2006
ProjeCt Area Nart�E
Frozen Base As,sessed Valwtion
Ine►�rrrnt Ass�ss�d Valwtloe�
Tdal Assessed Vahutlo�
Project Area No. 2
102.087,447
I 1,371,973.844
1.474,061,291
/lssessed VaMietion Dah Pape 2 12/142006
< ( (
. � «.
Ass�ss�d Valuation Data
Fiscal Year 2006
Projed Aroa Nart�e
F►qzen Base As�es.ted V��fi�on
Inc�rt�nt Ass�saed Valuadon
Tohl Assess�d Valuatiai
Projsd Aroa No. 3
�
1 �d.556.655
284.E09.6t2
433.368.297
1lssessed Yaluatfon Da{a Pape 3 12/14/1006
f
�
Ass�ss�d Valuation Data
Fiscal Year 2006
Project Nsa Nart�e
Frozen Base Assessed VaM�ation
Incnment Ass�sa�d VMuatbn
Total Assessed Valuation
Pro}ect Mea No. 4 —
577.136.018
I 1,642,529.982
1,619,666.000
( _
Assesssd Valwtion Oata Pape 1 12/14/2006
( ( (
Fiscal Ysar
Proj�ct Ana Name
M�ounts Paid To Taxirq
Aper�cies Pursuant To.
County
Cities
Sc�ad Distrids
Comnxx�ilp C,a�epe DistriCts
Spedal Distrias
Total PNd to Taxinq
Ay�ncin
!Nt Amount bo Ay�ncy
Gmss Tax Increment
Generated
�2006 - -
, Proj�ct Aroa No. 1 — - - - - - - — —
� -- - - - --
- Tax Ine►�nrnt Pass Throuph D�ta� Ot1Kr Paym�rKs
H i 5 Cod� H i S Cod� H i S Cod� ToLI H i S Code H i S Cod�
S�ctlon 33101 S�etlon S.1i7i S�eflo� 33i07 S�etbn 53446 S�etbn 3314S.S
- — - �' -�-s-r- . -• -.--.r--�
11.474.018 _ 138.342 � 511.612.360 (`r�: M y* " �'£'�: ,�r'" �t'� 2_^---'. • :•" �
47.055 � s47.055 P""i ��' 'x!�%' .. T. i• r,�'-.�y�
2.6d1.183 - - - - 123.302 � 52.804,,85 - - - - -
522.096 -- - - 23.019 � 5545.115 I
3.036.355 - - - 167.954 � 53.204.309 I � "; •�`" :; -*:. , ' �z�^_ �- �
� S17.713,652 � i0 � 5499.672 � 518.213,324 � SO � SO
������`�,� f27.553.602
�_F1'�''�r.'�3�'�i'������'..�rl:��l,!!�i�'�./�Y! _ 45.766.92fi
Pass-Thraqh / Sc�ad Distrid Assistar�ce
Paqe 1
12/14/2008
Pass-Throuph / Schod District Assbtanc�
�
�
PasrThrou�h / 3chool District Assbtanc�
Fiscal Y�ar 2006
Proj�ct Ana Name �Project Aroa No. 2
M�ounts Paid To Ta�drq
Ayencies Pursuant To:
County
cw�
sd,oa asa�n
Community C.aieye Dictricts
Special Districts
Total Paid to Taxinq
Aq�ntiN
N�t Amount to Aprncy
Grvss Taz Iricrernerd
Generated
Taz Incnm�nt P�ss ThrapA D�M Other Paym�nts
H i S Codt H i S Cod� H i 3 Cod� Total H i S Cod� H i S Cod�
S�ctbn 53101 S�ctbn 33pi S�cUon i3i07 3�ctbn 33446 S�ctlon 33146.5
_ 4,545.425- - - - — - - - � 54.545.42a ('.:t,';�?!,.{„� �''r.:�;},�.f. • d ,, T� -
- - - - _ � � _..�..;��:;�:�?�;;�--�:_.�- _
_ - e�a.00� - - - - � sa�a.00� , -
176.925 - - - - � f176.925 � -
_ 472.381 - - - � f472.381 �r_•;.a14::<<:' . ,:�i�''s� .'r;+'._
� ss.o�2.�4� � so � so � ss,o�z.�4� � w � so
�� , � f9.145.574
�,I[�,� � � . ..,�,�j _ 15.218,315
Pass-Throuph i Schod District Assistance
Pape 2
12/14/2006
i =
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Pas�-Throu�h / Schod DiaMct Assistanc�
Fiscal Year 2006
Proj�ct Area Nam� �Project Aroa No. 3
Taz Inennunt Pass Throuph DNall
Artaunts Psid To Ta�dnp H i S Cod� H i S Cod� H i S Code Total
Ap�ndes Pursuant To: S�etfon 3Sr01 S�etbn S3i7i S�ctlon 33i07
County _ 978.316 - - - ` - �
('ilbes _ _ �
Sd�od Districts 74.666 — - - _ _ �
Cortrr�unNy Calega Oishids 13.940 - - — - - �
s� asa� saa.�ia � - — - I
Total P�id to Taxiny � t1.750.850 � f0 � SO �
Aq�ncks
!Mt Amount to A�neY �.����1+ .�".. �b+ t�;t�?I
Gross Tax Ir�nent ���,�� •��^a'.� :'�{.K�T%-►"� �'�%: �
Generaled
Pass-Throuqh / Schod DistriG Assistana
Pape 3
OtMr Payrr�rks
H i S Cod� H i S Cod�
S�cfbn 35146 S�cdon 33445.5
i978.318 ��`,+��;` �•�� :� '�, : �c--
.�' '
i� �.,s ��v���!- T '' ��Y �S '
574,666 _
513.940 - - —
5683.72E f.`�'�,� ' . • . ;-�--�-r; _-y -�:--..�
f7.750.650 � f0 � SO
51.691.916
3.M2,566
12/14l2006
r
ri
Pass-Throu�h I school DisMct Assistanc�
Fiscal Y�ar 2006
Proj�ct Aroa Name Project Ana No. 4
Nnards Paid To Taxkg
Ayencies Pursuant To:
Co�xity
Cilks
School Distrids
CortrrwnAy Ca�epe DisVids
speaal Disa;as
Tofal Paid to Taxiny
A�ncin
N.t An,ount io Ay�++�r
Gross Tax Irwement
Genctaled
- - Tax Inc�n�nt Pass ThragA DMaM ` - - OfMr Paym�nts
H i S Cod� H i S Cod� H i S Cod� Total H t S Cod� H i S Cod�
S�ctbn 53�01 S�etbn 33pt S�efbn SSiOT S�ctbn 33445 S�ctbn 35�46.5
-.--•��--r,.. -:4---
2.�97.Sd3 -_ - - � - - - � f2,497.583 . . :. •, . ' ��� � �__ ti . _
- , ' � ...
- - - - - - - - � � ; . _ ,,,�„ � j
2.149,768 _ � 52,149.78a • -
393.355 � f393.355
_ 1,771.580 - - - � t1.771.560 �t'r�y �!>`,t- �:. _':' • ;�.��',Ss TZ'�: ' ;�?'� _
� ss.a�z.sos � w � so � ss.a�z.sos � w � w
ss,�a3.an
������i�'�i���y _ _12.598.183
Pass-Throuph / Sclad Dis�ic! Assistance
Pape 4
12/14/2006
r :
r
r
Fkeal Y�ar
Project Ana Nert�e
Summary of th� Stabrr�nt of Ind�M�dn�ss - Proj�ct Ana
2006 — - — — — - -
Tax Nocaliai Bord Debt
Re�xie Bonds
Olher Lanp Term Debt
CkylCaunty Debt
Low and Moderate M�ane HaninO Fund
01her
Toql
Avai�ble Revern�es
!Nt Tax Incrwn�nt R�qulnnMnts
�.+.. .' .f_.. .'K.r ,,'J�.ti�; .•`�t.,�1
r4 t
.i- - r i
� �
� �
i
Sumrnary of the Statert�ent of Indebtedness - Pro}ect Nea P� � � y�'��
( ( ( _
�
Summary of f!� StabM»�nt of Ind�bbdn�ss - Proj�ct Ana
Fisul Y�ar 2006
Projed Area Nart�e
Taz Abcation Bond Debt
Rerenue Bonds - — — — -
Olher Lonp Term Debt �
CIlYlCounty Debt
Low and Moderab k�ne Ha�siug Fund
Olf►er �
Tohl � �
Avaia6le Revenues �
M�t Tax Inc�wrMnt R�qulnrrrnts � SO
Sumrrary of 1hs Statement ot Indebtedness - Projed Area Pape 2 12/14/2006
(
(
Summary oi th� Sfat�m�nt of Ind�bt�dn�ss - Proj�ct Ana
Fiscal Yqr 2008
Project Ars� Wrtie
Tax Nocatbn Bond Debt
ReMenue Bonds
Olher Laq Tertn Debt
��� �
Low and Moderate Incort�e Floutfrq Fund
OC�
Tot�l
Araiable Reve►x�es
li�t Tax IncnrrNnt Rpuir�rNs
? . . ''�.: ��'�r��'�I
4�.. , . •
211.109.679
719.727.038
�o.o»,as�
319.156.434
� 21,260.005,008
24,518.058
� 51.235,4�.g50
Summary of Q�e Statement of Indebtedness - Projec! Aroa Pape 3 12H I/2006
(
�
0
� =
�
Sumtnary of tfi� Stabm�nt of Ind�bbdn�ss - Proj�ct Ana
Fbal Y�ar 2006
PIO�LY� /�1E8 P1SITls
Tax Nocation 6aid Debt
Rev�ie Bonds
Olher Lonp Term Debt
Ci�r/Counly Debt
Low and AAoderate kx;ane Housinp Fund
Opier
Total
AvaW�le Re�ronues
!Nt Tsx Incnrr�nt RpuinrtMnfs
�.J- :� ' rf' .�.; �ye;
� ':w . _ w1'• 'r:�YJa;.�� ..r
L • '"„ .' , y '
'+:
•�.
397,222,985
20.991.060
176.256.692 �
' i656.E49,645
- - -- 0
� 5656.a49.845
Surtmery of fhs StaMment of h�debtedrxss - Projeci Area Pape 4 12/1 M2006
f
�
Summary oi tfi� Stabtn�nt of Ind�bbdn�ss - Proj�ct Ar�a
FMcal Y�ar 2006
Ptojsd Mea fVame
Tax A/ocation Borid Debt
Reverwie Ba�ds
Olher Lonp Tertn Debt
Cilyl�County Debt
Low and Moderale I�cane Haisinp Fund
Olher
Tot�l
Avaiable Revenues
INt Tax Incnrrwnt R�quinrr�nls
. • „
,;.; � �`;�.r�':�;)� ' � :� • :i'> �«ti'.r
109,413,843 �
1.782,563
45,613.066
� 5164.7d6.401
791.288 '
, f163.995,113
Summary oi the Shdtert�ent ot Indebtedness - Project Area Pape 5 12H 4/2006
�
�
(
1 =
�
Summary of th� Stabm�nt of Ind�bi�dn�ss - Proj�ct Ana
Fbcsl Y�ar 2008
Project Area Nart�e
Taz AMocation Bor�d Debt
Reverxu Baida
Olhar Lonp Tertn Debt
CMy�County Debt
Law and Moderale Ir�ne Haukg Fund
Otl�
Total
Aw�iaiDie Revenues
INt Tax Incnrr�nt R�quln�rMs
�.. L �R ..\ �1���I�I
44.315.851
362,403,086
117,8�5,025
, 5524.563.962
3.106,014
� 5521.457,94a
Summ�uy of the Statement oi Indebtedness - Pro}ed Nea Pape 6 12/142006
< < r
. . ... . � . . .
. ��.ner �a,¢T.m, anc
Fiscsl Y�ar 2006
Proj�ct Ana Name _.Project A�ea No. 2_ _ __ _ _
Faward irom Ptior Ysar ��r.�,j��,+'�;':i +�,�
Band Type Cityl'County Debt
Ysar af Aufiorir�tion 19d7
Prindpal Miount Ai�ff►orfzed fi.000.000
Prindpal Arnount Issued 6.000,000
Purpose of Issue Land Acquisitio�
AAaturily Date Bepinninp Year 1967
Maturil�r Date Endnp Year 2038
Prinefpai Amount Unnwtund B�yinniny of Flsul Y�ar t f6.000.000
Adjustrnent Msde Durinp Year - -
Adjustment E�lanabn - -
Interest Added lo Prk�dpd
Prkiapal Artaunt Isa+ied Durinp Fiscal Year
Prinapal Nnamt Matured Duriiy Fbcal Year
Principal Amount Delbased Durtg Fispi Year
Princlp�l Amount Unnrtund End ot FMcal YNr � i6,000.000
Prhdpal Artiant In Defauk - -
Interest In DeMYt
BondTyqsAiowrd: — -- — --- ------- ----------- --
Tax Nocation Bonds: Rmrerwie Bonds: Certlllcales of Participrtlon; Taz Nocatlon Noles; Fk�fr�cinQ AiMaRy Ba�: Cky/'County Deb� US:Stab: Loens;
Lease OEfpations: Notes: Deferrod Pass-Thraqhs: Deierted Campensalbn: Other I
llqen�y LOnp-Terfn Dabt Pape 1 12H�12006
� ( f
Ay�ncy Lono-T�nn D�bt
Fiscal Y�ar 2006
Project Aroa Name Proj�ct Ar+�a_No. 2_ _ _ _ _ _ _ _
Fawa�d irom Prior Ypr �����.�.'�
Bond Type ��'�"h' � -
Year d /u�rio�ation 19931
Principel Nnamt Autla�ized 5.000.000
PAndpal Nnax►t IssueA 5.000.000 I
Purpose ot Issue Land Acquisifio� -
MahirAy Date Beyirxiinp Year -- 1993
Malui�r Date Endirp Year _ 2038�
P�ine�l Amount UnrrMtur�d d�gNnkg of Fwul Y�ar I 55,000.000
Adjustrt�ent Made Durfny Year -
Adjustrrient E�lar►alfon -
Inierest Added to Ptinapal .
Principal Arnount Issued Durinp Fiscal Ywr _ _
Prindpal /vnount Matured Durinp Fispl Year _ - -
principai /4raunt Debased Durirq Fiscal Yar
PrinelpN Amount Unnrtund End of FNcal Yqr � 55.000.000
Principal Maunt In DehuR _
Inlerest In DefauR _
�Qa+dTyp�sAbw�d: ---- — --- ------- -- -- -- -- -----•---- -- -- --'
Tax Nocatbn Bonds: Revernu Bonds: Certllk�,aEes of Psrtk.ip�fon: Tax Abcation No1es, Finendrq AuCiori�r Bon�s: Cit�r/�County Debt: US.State; Losns; �
ILe�se �b10a1bns: Notes: Deiertsd Pass-Thraqhs: Deiertsd Cortipensation, OC�er �
! - - - - - - -- - -- - - _
a
�
Aperx.y Lon�Tertn DeDt Pape 2 12/142008
� ( �
�.,
Ay�ncy Lor�T�rtn D�bt
Fiscal Y�ar '2006
Proj�ct Ar+�a Name Proj�ct Ana No. 2 _ _ _
Fanirrrd from Prior Year EY� "•p��''�`�
BarW Type �Y�+�Y �
Yer of AtAio�ization 1995 �
Principal Mqunt Iufiaized 5.500.000
PAncipal Artiourn Issued 5.500,000
Pupose of Issue Land for Public Recneation FxliNes
AANtxiy Date Bepinnkg Year 1995
Malurily Dak Endinp Year 2038i
Prfncipal Art�ount Unrtrtund Bpinniny oi Fiscal Y�ar � i5.500.000
AdjusUnent Made Durinp Year
A�istrnent E�ianaYon — - — - - - —
Interest Added b Prir�cipal
Prk�cip�l Amoixit Is.wed Durirp Fiscal Year
Prinapai Arnamt Matured Durinp Fi�c�l Ysar
PrM�dpal Amount Defeased Durirg Fiscal Year
Prinelpd Anwunt UnnMtund F.nd aI Fkul Ywr � 55.500,000
PrirKipal Art�ax�t In Defailt
Inbroat In Detault
BondTyp�sA/ow�d: — — •--- --- ----- -� ------- ------ �
Taz /lbation Bonds: ReMenue Bonds; GertiAcates o/ Particip�tion: Tax Nocatlon Notes: Finandrg AulhorMy Bonds: Gly/'Counly Deb� US:Sfale: Loens; I
Lease ObipaBorn: Ndes: De�erTsd Pass-Tlraqhs: Deferrod Cort�nsatlon: Olher
Aperx.�r Lono-Tertn Debt Pape 3 12H42006
< < r :
Ay�ncy Lon¢7�rm D�bt
Fiscal Year ,2006
Proj�ct Ana Nam� Proj�ct Ar+�a No. 1
Faward irom Pria Year ��?��'���-:q►�"t�
Ba�d Type City/Caunty Debl — — -
Year of Aulhorfzation 1995
Prtr�cipd Amount MiC�orfzed 2,500.000
Principal Maunt Issued 2,500.000
Purpose of Issue Pubfic Reurado� Faciities
Mahxily Date Beyininp Year 1995
Maluil�r Date Endrq Y�ar 2032
Principal Art�ount Unn�tund B�yinMny o( Flacal Y�ar � f2.500,000
AdjustrrxM Made Dukg Year
AdJ�utrncrit E�ntio�
Intsrest Added to Prk�cipal
Prk�cipal Artaunt Issued Durinp F'aal Yeer
Prindpd Artiount Mahued Dump Facal Year
Principal Artiourri Defeased Durinp Fiscal Year
Principd Amount UnrrMtund End of Fisul Y�ar � 52,500,000
Principal Artaunt In Default
Interest In DefauR
r dondTyp�sAMow�d: — -------------- ---•- — -�-- - -- — -- — . - -- --- ---
Tax Nocation Bonds: Revenue Bonds; CertNicates of Partic�lfon; Tax A�ocation Notes. Fhandrg AuCarfty Bonds: Cilyl'County Debt; US;State; Lwns:
Lsase Obiqatio�s; Notes: Deferred Pass-Throuphs; Defemed Cortpensalion: Olher
Apenq Lon�Term Debt Pape 4 12H4/2006
i
(
(
Aq�ncy Long�T�rtn D�bt
Fiscal Yoar 2006
Project Aroa Name Project Aroa No._ 2 _
Forrvard irom Pria Year _ ���'��y, •
�: �
Bond TYPe �Y�+�Y Debt - - — -
Year o( AuC�orir�tion 1997
Prinqpal Arraunt Atdhai¢ed 2.055.000 �
Principal Nnamt Issued - - - 2.055.000
Purposs o� Issue Land AcquisMbn `—
Mahxily Qate Bepinnirq Year 1997.
MahxNy Date Endiny Year 203E
PrM�cip�l AmourK Unrtrtund B�yfnnlny of Fiscal lhar � i2,055.000
Adjustr►xrrt Made D�xYiy Year
AdXutrrient E�r►atlon
Interest Added to Prkiclpal - - -
Pnncipal Arnamt Issued Durxq Ffacal Year
Prindpal l4riount Mahxed Durfnp Ffscal Year
Principal Artaurd Defeased Durirg Fisal Year
PrineipN Anaunt Unnrtund End o( Ffseal Y�ar i 52,055,000
PrinGpal Arraunt In Default
Interest In Default
( BondTyp�sAbw�d:�-------- ------------ --- ---- � - - - � - --- -- -- -,
I Tax AMocation Bands: ReMenue Bonds: Certilicates of Particp�Flon: Tax Nocstion Noies; Fina �
I ncinp AulfarAy Bonds: CkylCounty Debt: US:State: Loanx �
i Lease Obipado�s: Notes: Deierrod P�ss-Throuphs: Deierred Compensatlon: Otlier
I
AqerK.y Lorq-Tertn Debt Pape 5 12/1�IZ006
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, Apency Lon¢T�nr� D�bt
Fiscal Y�ar �2006_ _ _
Proj�ct Aha Nam� �Proj�ct Aroa No. 1_
Farwud irom Prior Ye�x ��cc�'�;'
Ba�d TYPQ CiA'�Counly Dsbf
Year of AuC�orfzabon 199D �
PrYlCipo l4namt N1Qior�ed 3,347.917 ,
Principal /4raunt Is.wed - - 3.347.917
Purpose of Issu� Pu�hax of Lar►d
M�hxk�r Date Bepirninp Year 1999
Maaxky Dafe Endinp Yex 2032,
Principal Amount UnnNtund B�ylnninp of FMuI Ytar � S3,3I7,917
Adjustrnerd Made Dixinp Year
Ad�us�r�ent E�nation - - - - - -
Inberest Added to Prk�cipal
Principal /lmount Fssued Durinp Fisal Year
Rincipal Mio�x�t M�lured Dur�p Fbcal Year
Prhx�,ipal Mwtx�t Delfeased Dixfrq Fispl Year
PNndpal Anaunt UnnMtund End of FMcal Y�ar i 53.347,917
Pnc�ipal Nnamt In DefauR - -
Inoere�t ln DefiuR
doedTyp�sA�ow�d:�--- -- — --- ------ - --- --- ---- ----I
Tax Nocatlat Bonds: ReverM�e Baids: Certficabs of Participalfon, Tax Nocatfon Noles: Flnenc�q AuC�o�RY 8o►xts: CIlY/Cam1Y DeDt US:Stab: Loarts: I
Lease Obipatloru: Notes: Deierted Pw-Thraqhs; Detsrted Campensation: Olf�
Apsrx,y Lono-Tertn Debt Pape 6 12J14/Z006
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Ay�ncy Lon�T�rtn D�M
Fiscal YQar 2006
Project Aroa Nam� Prol�ct Ar+�a No. 2_ - - _ - - - - - _
Faw�rd irom Prior Year ;� ,�Q, �
Ba�d Type CNYK'.a+►dY Debt -
Year o( Aulho�fza�on 19991
Pnc�ipN Miaxit Hutl�oraed 2.438.060
Princlpal Nr�axit Issued - - - 2.436.060 �
Purpose of Issue Land AcquaAlon — -
MatuNy Date Beyrxtirg Year 1999 �
Mattxil�r Date Endirq Yeu 2038'
Prkrcipal Aenount UnnMtund B�yinnirg of Fkcsl Y��r ' S2,436.060
Adjustrne�t AAade Durfrq Year
Adjustrnent E�lanafon
Intarest Added b Principal
P�fndpal Artiount Iss+x.d Durinp Fi�cal Year
Prinapal Arraunt AAaNrsd Durinp F� Year
Prk�cipal Arta�xit Defeased Durirp Fi�cal Yqr
Principd Anwunt UnrrMtund End ot Fiseal Yqr � i2.436,080
P�Incipal Nno�nt In Oefault
Interest In DefauR
dondljrp�sA/owrd:— ------- - -- --- ---- --- - -� - --. _ _.,.—_ I
Tax AbcaUon Bonds: Rever►ue Bonds; Certimcates oi Puticj�lb�; Taz Moc�tion Notes: F'rwncinp N�lfartly Borxls: CilylCouMy Debl; US:Stale; Loans:
Lease Ob�pations; Notes; Defert�ed Pass-Throuphs; Deierred Compensalbn; Olher
I
� — - - - - - - -- - - - - - - - -
ApenCy Lono-Tertn Debt Pape 7 12/142006
i -
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Ay�nry Lor�T�nn D�bt
Fiscal Y�ar 2006
Proj�ct Aroa Nsm� �Proj�ct Ana No. 1_ __, _ _
Forward lrom Ptfor Year q�,� ``
[M_-. '�� 'r'�
8a�d Type `Gy/Ca�dy Debt - - -
Year d Aulhafzation 19991
Principy Artpunt AuC�orized 4,163.940 i
Prinapa�l Nr�ount Issued 4,163.940 ,
Purpose of Fssue Land Pur�hase
MaqxMp Date Beqir�ninp Year , 1999;
Msltxky Dale Erxfrp Year 2032�
PrinclpM Anw�nk Unrtrtund Bpinninq of Fkul Y�ar ' f4,163.940
Adjustrtlerrt M�de Dlxkp Yea►
/ldrrshnent E�ianalbn _ _
Inlsrost /kJded to Prkicipal
P�irK.ipal Arnaint Issued Durir►p Fiscal Year
Principal Amount Matured Durirq Fispl Year
Prinapal M�ax�t Deteased DuArq Facal Year
Principd Anaunt Unm�tur�d End of Ffscal Y�ar � 54,163,940
PAndpal Nraix�t In Default - -
interost In Defauk
� BondTyp�sAbw�d: -- -------- ---------- -- -------------- -I
Taz Abcation Ba�ds: Revenue Bonds: Certi6c�tes of Particip�0on; Tax Abcafbn No1es: Fk�erx�rq Aulhorily Bonds: CNy/Camly Deb� US:Strte: Loens; I
Lease Obipatlons; Notes: Deterrod PassTlxouyhs: D�ferrsd Comqensalion: OIf� I
/psncy Lor�Term Debt Pape 8 12/14/2006
� � ( =
Ay�ney Lon�r.nn abt
Fiscal Year 2006
Project Aroa Nsm� Pro��ct Aroa No. 3_ _ _ _ ___
Faward irom Prior Year f`�,�}���
Bond Type �CN�'X''.axily Deb!
Year oi AuQiortr�tlon 2002 � - - - -
Pri►reipal Arttount Autl�ortzed � 1.782.563
Prirx�3pai Artaunt Iswed _ - - 1.7E2,563 ,
Purpose oi Iss��e Firw�oe R. J. �.,. . t ActiNties
MahMly Date Bepinning Year 2002,
Mriurtly Date Entkiq Ysa► 2042�
PrinclpN Ama+nt UnrtMtu�d Bpinninp oi Fiscal Y�ar � i1,7d2,563
�Wjustrnern Made DuAr►p Yesr
A�strnent E�la�►��°^ - -
Interest Added b PAncipal - -
PAnapal M�axit Issued Dixirq Fisai Year
Principal Arnount Mahxed Durirq Fbcal Year
Prkicf�i Arriamt Defeased Durkg Fiscal Ypr -- ` -
Prinelpd An+ount Unm�tur�d End d Fiseal Yqr � f1,782.563
Principal Nnax�t In D�fauU
Interest In DefauR '
r— - -- - - — --. ..- --.._�.-�-- ��-- --� - ---- -- — -- -- - - - -� - - - - -- --
I Bond Trp�s Abw�d: I
�Taz A/ocation Bonds: Rsvenue Bonds; Certllicstes of Particip�lbn; Tax Nocafi�on Notes: Fin�ndrg N�C�oriAp Bonds: Citp/�County Debt: US:Stete: Loens; i
Lease ObiipaMons; Nofes; Dekrred Pass-�lxaghs: Dekrted Camperuation; Olf�
Aperx.y Lor�Tertn Debt Pape 9 12/14R006
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.
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, Aq�ncy Lono-T�rtn D�bt
Fiscal Y�ar ,2006
Project Ana Nam� Proj�ct Ana No. 2_ _ _
Fonwrd hom PriorYear 5!1�"�',,-�.-;#,�". ,�'�;�
Ba�d Type pp� - - - -
Year of Aulhoriration 2003
Prtiapai Maunt AiA�orized 1. t 0+1.363
Prk�apal M'iotelt Is.wed 1.104.363
Purpose of Issue Pass Throuph Aqreerr�ent Payabie with
��«+►+b
�KY � ���G Y� 2003 - -
Mehxily Date Endinp Yqr 2012
PNneip�l Anwunt Unnytund B�ylnninp of Fkeal Y�ar ' Sd58,949
Adjustrnerd Made Durinp Ytar
Adjustrnent E�nation = - _ -
Interast Added to PrMiapal - _ - - -
Prkwipal Artqunt Issued Durirp Fiscal Year
Prindpd Miount Malured Durkq Fbcal Year 122.707 ,
Prirxapal Nnourd Deteased Duriq Fi�W Year
Prineipal Anwunt Unrrwtund End a( Fiscal YNr � 3736,242
Prfnclpal M�oint In DefauR - - -
Inlerest In Default
Bond Trp�s Abwrd: — -- -- -- - - -- - -
Tax Abcation Bonds; Revem�e Bonds; Ce�tfi�.ates of Partk.ipalfon; Tax Nocatlon Notes; Flnancirq Autlwrfly Bonds; CitylCounty Debt; US;State: Loarx;
Lsase Obipatf�ons. Notes: Da(erted Pass-Ttxouphs; Deterred Cortpensation; Olfxr
Apenc.y Lonp�Term Debt Pspe 10 12/14f2006
B
� r 1
Ay�ncy Lonp-T�rm abt
Fiscal Year �2006
Project Ana Name Palm D�sert Financing Authorfty _ _
Forward irom Prior Year �r, �.• : ��t .
Bond Type Taz /1b�cafbn Bords
Yex of AuQiortr.atlon - - - 1995
Prk�cipal Amourrt Aulhafzed 4,090,000 '
Prindpal Art�ourtt Issued 4.090.000
Purpose of Issue i ReQ .! �. .. Acti�iYes B - --
Maturily Date Bepnniq Year -- - 1995
Ma4xily Date Endkq Ydr 2009•
Principal Amount Unrtitund B�Inninp of Fbeal Y�ar � 53,905.000
Adjustrner►t Msde Duri�p Year
Adjuslrnent E�lanation -
Inisrest Added eo PrY�cipal - - -
Prirk,ipal Nnqx�t Issued Ourinp Fisa�i Ysar
Principal Amamt Matured Durinp Fiscal Year 35.000
Prexipal Artaunt Deteased Dump Fiscal Yex - ---
Prineipd Amount Ur�ntu�d End ot Fiseal Ywr � S3.S70,000
Principal Nraunt In Default
Inferest In DefauR
� Bond Trp�s A�ow�d: — -
i
Tax Mocation Ba►ds; Reverwas Bonds: CerlNk.ates of Parti�ip�lio�; Tax Nocatbn Notes: Finarx�q AuC�Ky Bonds: Cily/County Debt: US;State; Loens: �
� Lease Obl'gations: Notes: Deierred Pass-Tlxaiphs: Deferted Compensation: 01her I
I
AperK.y Lono-Tertn Debt Pape 11 12/14R006
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Ay�ncy Lon¢T�rtn D�bt
Fiscal Yaar 2006
Project Ana Name Palm Desert_Financing Authorfty
Farward hom Prla Year VR' •; ;-`'�',� -.
_. _ _ � � �
Bond Type Taz Noca6on Bonds
Year o( Authortration 1995
Principal M�o�x�t AuCar¢ed 6,305,000
Prindpal Maunt Issued 6,305.000
Purpose of Issue Reltmdiny Issue
Malurily Date Beyinnirq Year 1995
Mahuilp DaEe F.ndiny Year 2025
PrineipN Anwunt Unnrtund B�yfnninq of FMaI Ytar � 52.375.000
AdjustrnerN Msde D�unp Ye�r
Adjustrnent E�►alfon - - -
InOe�est Added to Principal
Pdncipai Nraunt Issued burxq Fisc�l Year
Principal IVnour�t Malurod Durtq Fbpl Yqr 555,000
Principal Arnount Defeased Durimp Fisd Year
Pri+cip�l Anaunt UnrtrturMd End ot FYeal Y�ar ! 51.820.000
Principal Amaxit In Dehuh
Interest In Def�ult - -
dond Typ�s A/ovwd:
Taz Nocatlon Bards: Revdrx�e Bonds: C,erMfaies ot Partlq�bn: Taz Aloc�tlon No1es; Finsrxanp Aufhorily Bonds: CItyACourrty Debt US:Stete: Loens;
Lease Obipatlais: Nafes; Dekrted Pass-1lxaqhs: Defsrtsd Compensarion: Olf►er
Aperx.y Lon�Term Debt Pape 12 12H42006
( � � =
Ayency Lon¢T�rtn D�bt
Fiscal Y�ar 2006
Project An� Name Palm Des�rt Financing Authority _
Faward 1Fom Prior Year ��Kj 4_ .�r.f
Bond Type Tax Abcation Ba�ds - -
Yefr of Au�arizaffon 1997 � - - -
Prkidpal Amount AuCarized 71.955.000 �
Prirx�,ipa1 Art�ount Is.wed 71.955.000
Purposa oi Issus Retundinp Issue
Ma4�My Qate Bepkinirg Yex 1997i
MahMly Dale Endirg Yeo► -- 2023 �
Princlpd AnaueK Unm�tund Bpinnirq ot Flscal Y�ar + 559.540.000
Adjustrtiurt Made Durnp Year
/1�isLrnent E�Isnation - - - - -
Inierost /1�dded b Ptirx,'ipal -
Principd Nnax�t Issued Durinp Fisal Ye�r
Prfndpel Arnax�t Mahirod Duriny Fiscal Year 2.025.000
Prfr�c7pN M�o�xrt Defeased Durhp Fisai Year - - --
PrineFpal Amount Unn�tur�d End d Flacal Y�ar � 557,513,000
PrY�cipal Nriaxit In Default - - -
Inberest In Default
BondTyp�sAbw�d: — - -- ----- --- -- — - - - ------ --- �- -� - - - � ----� - - --i
�
� Tax Nocation Bonds: Revenue Bads; CerlNfcates of PaAicipation; Tax /uocatf�on Notes: Finandnq AufhorRy Borxis: Cily�County Debt: US;State: Loens; I
iLsase Obipafbns: Notes: Deierted Paas-Throuphs; Defemed Compensatio�: Olher ;
� - - - -- - - - - -
Aperx.'y Lon¢Term Debt PaQe 13 12/14/2006
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Aq�ncy Lon�T�nn D�bt
Flscal Year 2006
� - -- -- - ---- - - - - - - -
Proj�ct Aroa Nam• Palm Dos�rt Financing Autho�ity
Faward hom Prior Year �t��' `'' r�; • .y _�,,: ; ,
. _ .£• , .' .
Ba�d TYPe Tax Abcation Bands
Yex of Autl�aaalion 199d.
PrinCipd Artqtx�t Aldhafzed 48.760.000
PAnCipal Amo�mt Issued 4a.760.000
Purpose of Issue AcquM�e Apartrr�ent Camplexes
Mahiriy Da�e Bepinning Year 1998
MaluNy Dale Endirq Yqr 2026 �
PNncipN Anaunt Unm�tund B�pinninp of Fiscsl Y�s► } 545.670.000
Adjustrnent AAade Durirq Year
/1dj�istrnent E�ianation
Inlerest Added to Principd
Prinapai Arriou� IssueC Durinp Fispl Year
Prindpal /4riount MtAued Durirq Facal Year 590.000
Principal Miount Deteased Durirq Fiscal Year —
P►Incipal Anwunt Un�rrtur�d End d Fiscal Y�ar � i45.080,000
Prtidpal /lrraunt In Defadl -
interest In Default
dondTyp�sAiow�d: --- — -------------- -- ------- --------- --- � _.. ,- I
I
Tax Aior,atlon Bonds; Rwenue Bonds; CertNicales of PaNk.ip�tioa; Tax Abcatbn Nobs: Finandrg Aulho�ity Bords: Cilyl'CouMy Debt; US:SteEe; Loens: I
Lease Obiqations; Noles: Debrnd Pass-TTxaqhs: Dekrted Compe�satlon: O�er i
Apenc.y Lon¢Tertn Debt Pape 14 12114R006
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Ay�ncr Lon�T�rtn D�bt
Fiscal Ywr 2006
Proj�ct Aroa Name Palm Des�rt Ffnancing Autfiority
Fa�rward kom Prior Year �rry� �,�,���;��
Bond Type Tax AbcaEion Bonds -
Year of /uifariratio� - - - 199d�
Prinapal Nraunt AuQ�orized 11.020.000 �
Prfncipal M�amt Issued 11.020.000
Purpose oi Issus Redevebpment Acti�iss
Maturily Dafe Bepinnin0 Yea► 1998 �
MaltxMy Dab Endirg Yex 2028
Prineipal Anwunt UnrrMtund B�yinnlrq oi Fisesl Y�ar � 510.370.000
Adjushnent Made Duinp Year
/ldjustrnent E�n�i°^ - - - - - -
IMerest Added to Principd - - - -
Ptindp�i /lrraunt Issued Durinp Fispi Year
Prit�ipal /irtia�nt hlatured Duriny Fieal Year 230,000 '
Prinapal Amamt Defeased Durtq F'�sal Year
PrinclpN Anwunt Unm�tund End o( Fiscal Yqr i 510.�40.000
Principal Arriount In Defauk
Interest In Detault
- Bond7�►p�sMow�d. ---- -- ----- ---�- -- -- - ---- - - --- - - - I
T�z Abcadon Borxls; Rmien��e Bonds; Certl6cates of Particplfon; Tax Moc�tion Noles: Fin�na�p Autla�rihr Bonds: City�CouMy Debt US:State; Loans: I
Lease Obipations: Notas: De�erred PassThrouphs: Detert�ed Compensatbn; Olher i
� �
ApenCy LOnQ-Term Debt PaQe 15 12/14R006
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Ay�ncy Lon¢T�rtn D�bt
Fiscal Y�ar 2006
Project Aroa Nam� �Palm Desert Financin� Authority _ _
FOrMrdrd fnDm PrfOr Year 'T' -�'r
;�ilt':''�� . . _ ��
Bond Type Taz Abcafion Bonds
Yesr of Pu�ho�fza6on 2001,
Prinapal Nnount I4�ized 15,695.000
PAnCipal ArtauM Issued 15,695.000
Purpose of Issue Finance Redevebpnent Activities
MaturUy Date Beqirnirq Year 2003�
Mfturily Date Endinp Yeu 2031 �
P�lecipal Amount Unn+�tund B�ylnnirg of Fisul Y�sr � 515.235.000
Adj�utrtxnt M�de Durinp Year
Adjustrnent E�lanalion - - - - —
Interest Added bo Prindpei
Prir�cipal ArnouM Issued Durkq Fiscal Year
Prtncipal Amount Matured DurM�p Fiscal Year 170.000 •
Princlpal M�o�x�t D�sleased Duri►g Fiacal Yesr - - ---
P►lncipN /lnaunt Unnwtur�d End of FRcal Y�ar � f15.065,000
Pri►k,ipal Nraunt In Defauk
Interest In Detault
Bond Typ�s A/owrd: '
Tax Nocatlon Ba�ds: Reverxu Bonds; Certific�tes of PaAicip�tion; Tax Nocdbn Nobs; Financirg AuCiorNy Bo�ds; CRyICauMy Debt; US;Sfate; Loens; �
Lease Obipalio�s; Nates; Deferred Pass-TTxaiphs; Deterted Cort�pmsalfon: Otl�er +
Aperx.y Lon¢Term Debt Pape 16 1?J14/2006
� � ��
Ap�ncy Lon�T�rtn D�bt
Fiscal Y�ar
Project Aroa Nam�
Faward irom Prior Year
Barxl Type
Ye1r o( Aulhortzatlon
Prfnclpai Arr�ount At�ized
Prk�cipal /4raunt Issued
Purpose of Issue
2006
Palm Desert Financing Autho�ity
�i��'`'��
� Taz Nocafion Bonds
- — 2002;
22.070,000 �
22.070,000
Debsse 1992 Sdfes A and Provide
�Finandrq for Aciiribes _
MaAxKy Date Bepirninp Year 2003
M�lurlly Date Endinp Year � 2031
Prhxipal Anwunt UnrrMtu�d d�ylnninp of Fisul Y�ar � 522.070,000
Adju�t Mede Uxiq Year
Adjustrnent E�Fanatlon - — - —
Interest Added b PrU�ap�l
Principal /Mnotx�t Issued Durirp Fiscal Year
Princtipd Artaunt Matursd Durinp Fisal Year
Prk�cipal Amax�t Defeased Durinq Fisal Year
Principd Maunt U�x�rtund End of FYeal Y�ar ' 522.070,000
Principal Art�axrt In Dehult
Interest In Oetault
BondTYp�sA�ow�d: - ----- --- --- -- . ..----- -- -- --- - -- - -- -- - - -- -- -I
Taz Abcation Bonds; Ravenue Bonds; C.�rtilk�ales oi Partic�ti�on; Taz Nocation NWes; Finandnp AutfarMy Bonds; Ciy/Couny Debt: US;State: Loans: �
Lease O!*p�lbns; Ndes: Deferred Pass-Tlxaqhs: Deisrred Cortpensatbn: OCier �
I
Apenc.y Lon�Term Debt Pape 17 12/14l2006
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A�ency Lonp�T•nn abt
Fiscal Year
Project Aroa Nam�
Farward fiom P�lo► Yqr
Bond Type
Yex of Aul�o►iza6on
Prfncipal Mioix�t /4�fzed
Prirx�.ipal Miount Is.wed
Purpose of Issue
2006
,Palm Desert Financing Authority _
��w_;�;�;�'; �d
Tax Nocation Bonds - - -
- — - 2002
17.310.000
17.310.000
P►o�ride Funds to Deteaae Prior Bonds and
Ftxid R'oje�'.ts
Maturfly Date Bephnnp Year --- 2003�
Mahxily Dale Endirq Year 2022�
P►hrcipN Anwunt Un�tund D�yinnirq of Fiscal Y�ar , 516,000.000
Adjuslment M�de Duriny Year
Ac�ustrnent E�lanation
IMerest AdCed b Prfncipd -
Prfndpal Arnount Issued Durirg Fiscal Year
Prirxipd Artaunt Malured Durfnp Fbcal Year 690.000 '
Prir�cipal Amount Deieased Durinp Fiscai Yesr
PrineipN Amount UnnMtund End of Fl�eal Ywr � 515,310,000
PAncpal Arta�mt In Defauk
Interestln Default - -
� BondTyp�sAro�wd: -----�--- -- --- - -- - - - - - -- -__.,. _ . _. .- --- - -�
� Tax Nocalion Bondt; Revenue Bonds; C.ertlliraies ot Participatlo�: Tax Nocation Notes: Finandnp /uilhorfry Bonds: CitydCounty Debt US:State; Loans;
i Lease Obipa6ons: Notes; Deterted Pass-Throuphs: Deierted Compensation; OC�er ;
' ------ — -- � .. - -- — --�---- — - -- - - . . _. _ ..- -- -- ---'
llperx.y Lon�Tertn Debt Paqe 18 12/1�/2006
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A�ncy Lon�T�rtn D�bt
Fiscal Yoar 2006
Proj�ct Aroa Name �Palm Des�rt Financfng Authority
Faward irom Pria Year ��u.''•r .- � �
�-
Bond Type Taz Abcatlon Bonds
Yer of /4�ition 2002 �
Principai Amour�t /4df►oAzed 12.100.000
Principal M�aunt Issued 12,100.000
Purpose of Issue Provide Houshy Funds to Defease Prior
Bonds and Fund Projeds
Mahnily Oale Bepinninq Year - - 2003�
MaWrflp Date End'np Yeu •- - - 2031
Prtncipal Anaunt Unnwtund B�yinnlnp ot Fkcal Y�ar � 511.625.000
Adjustrrient Made DuAnp Year
A��ustrnent E�lanalion -
Inlemst Added eo Principal
PAnapal Artaimt Issued Durhq Fisal Year - -
Principai Artaunt AAatured Durinq Fi�al Year 245,000
Prindpal Artiourn Dekssed Durinp Fiscal Year -
P�incipN Maunt Unnytund End of Fiscal YNr � 511,380,000
Principal M�o�xit In Defadt
Interest In DefauR
IBondTyp�sAbw�d: — ----- -- --------- -- - - -------. . . -- -- - -- -- - - ---- —
� Tax Nocatbn Ba�ds; Reverxie Bonds; Certificates oi PaAk,�ation; Tax Nocatbn Noies: Finandnp Autliaiy Borx)s: CAylCounly Debt; US:State; Loa�;
j Lease Ob�pafiorts: l�ot�es: Defert+ed Pass-Thra�Dhs: Defernd Compensation, Olber
�
Aptr�.y LonQ-Tertn Debt PaQe 19 12114R006
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Ay�ncy Lon�Tenn D�bt
Fiscal Year �2006
Projtct Aroa Name Palm Desert FinancinaAutho�ity
Folward Uom Prior Year ����'`;�.;'"�.��5&'�,4�i
Bond Type Tax Abcation Bonds
Year of /k�lAori:ation 2003
P�incipd Nriount /��ized 23,745.000
P�fr►cipal Artaunt Issued 23.745.000
Purpose of Issue Pro�ide Axidiny tor redevebprtent projeds.
Maturily Date Bepinninp Year 2004i
Matully Dah End�g Year 2033
Princfpal Amount UnrrNtund B�yinniny of Fkcal Year � 523,500.000
Adjustrnent Made Durkp Year
Adjustrnent E�nation
InOer'est Added to PrMreipal
Principal Nraunt Is.wed Durinp Fiscal Year
PAncipal Amount Matured Duriny Fiscal Year 90,000
Principal Amount Defeased Duriq Fiscal Year
P►IncipN Artaunt Unrrtu�d End of FisW Y�ar + 523,410.000
Principal Nriamt In DefauR
Intereai In OefauU
------�------------ ----- -...--- ----- --- --
� Bo�d Typ�s A�ow�d: . - - - - -- - �
+ Taz Abcation Bonds; ReMerxie Bonds; CerE4k�.ates oi Pa►ticlpatfon; Tax Iliocstla� Nofes: FinenanQ Authoriy Bonds; Cily�County Debt US;State; loens: I
Lease Oblipatioos: Notes: Detemed Pass-Throuphs: Deterred Compensation: OC� �
. — !
Apsn�r Lorp•Term Debt
PaQe 20
17J14/2006
(
.. . ..
Ap�ncy Lon¢T�rm abt
Fiscal Y�ar
Proj�ct Ana Nam�
Farvwrd hom Pria Year
BorW Type
Yex of A�Aiorhation
Prfncipal M'btnt 11uC�afzed
Principal Artaunt Issued
Ptxpose of Issue
2006
Palm Desert Financing Autfiority
�"~�.f��'�
Taz Abcatlo� Bo�ds
2003
15.745,000
15,7�5.000 �
Provide Funds to Dekase Prior Bonds and
Fund Projects
MahrMy DaM Bepinninp Ye�r 2023
Malurily Date Endinp Yex 2033
PrincipN Anwunt UnnMtund Bpinnlny of Fisal Y�ar ' 515,745,000
Adjustrrknt Made D�rtp Yeu - -
Adjustrnent F�ianalion -
IrMerest Added to Pnndpal —
Prtnapal Mraunt Isuied Durinp Fiscai Year
PririGpal Amourrt Malured Durhp Facal Year --
Prfncipei Amount Dekated Ouriny Fiapi Ysar — - —
Principd Amount UnrtMtund End of FMca! Ytar � 515.7�5.000
Prindp�l Artiaint In DeMIt ' -
Interest In Default
BondTyp�sAbw�d--- — ------- ---- —
Tax A�ocarion Bands; Revenue Bonds; Cerd6ratss of Pariapatbn; Taz Nocafi�on Notes; Finana I
In rq AuC�orilY Borrcls: CitylCounty Debt; US:State: Loarta:
Lease Obipalfons: Notes: Deierrod Pass-TTxaiphs; Deferred Cortipensation; OR�er
' _ -- — — I
�
Aperx.y Lor�Tarm Debt Pape 21 12/14R008
{ r � =
Ay�ncy Lon¢T�rtn abt
Fiscal YQar 2006 _
Project Aroa Name Palm D�sert Financing Authority
Farward hom Ptior Year ��r�a�.�'x,�i?�X',
Bond Type Tax AbCation Baids -
Year of Au}AotIIafion 2� �
Principal Amount /4�tzed 24.945.000
Prindpal Artaunt Fssixd 24.945.000
Pumose ot Issue Provide Ar�drq tor redeveloQment projects.
Malurity Dale Bepinnnp Year 2005�
Maluly Qate Endiq Year 2025
Principd Anaunt Unm�tund B�pinnirp of Fiscal Year � f24,450,000
Adjustrt�tt Made Dixirg Year
A�ustrr�errt E�ianation _
IMerest Added to Principal
Principal ArnourH Issued Du�inp Fiscal Year
PAnapal Amoimt Matured Durirg Fispl Year 855.000 i
Prtncipal Artiount Deteased Du�irg Fiscal Year - — -
Princlpal Amount Unen�tund End ot Fiscal Y�ar � 323.595,000
Prindpai Nnamt In Default - -
Interest In Default
I BondTyp�sAMowrd: ---- -----------.�.---�--- -- -- — --- -- -- --�- - - -- — - -I
ITax Abcation Bonds: ReYenue Bonds: Certi�iaies of Participatio�; Tax Abcation Ndes: Rner►ckp Authority Bonds: CkylCounty Debt US.State; Loens; �
� Lesse Ob�pations; Ndes; Deferted Pass-Thra►phs: Dekmsd Compensalion; Olher '
� I
�
Agerx,y Long-Tertn Debt PaQe 22 12H 4/2006
i �
i
� ,�
� � .;.
Nor�Ag�ncy Lono-T�nn D�bt
Fiscal Y�ar ,2006
Project Ana Nam� 'P��m Dssert Financinp Authority _
Farward fiwn Prior Year �y . �';��.�'�'
�'' � _
Baid Type Ma�ape Reve�ue Bonds
Year of fu�tlior'a�tlon 2003
Principal Amount M�C�orized 22.310.000
Principal Artaunt Issued 22.310.000
Purpose of Issue Constn�ction
Malurfly Date Beyinniq Year
Mahxily Date Encinp Year
PAncipN Amount Unm�tur�d B�yinning of Fiscal Y�ar
Ad�usUnent Msde Duriny Year
A�utrne�t E�iaration
Principal Artaunt Issued Ourinp Fiscal Ysar
Prindpal Amount Matursd Dtxinp Fixal Year
Principd 14riouM Oeieased Dur1►p Fiscal Year
PrincipH Amount Unnrtur�d End ot FMcal Y�ar
Princlpai Amount in Defauft
Inierost in DefauN
2005,
2035
� 22.045.000
522,045.000
daM Typ�s Abrwd:
Matpape Revenue; Industrial Developmenh. Cortxr�er�cial Revenue Bond; Certl�cate of PaAicipation
Non,Apern.y Lon�Tem► Debt
Paqe 1
1 Z/14/2006
( t i :
AssNs and Otl�r D�bMs
Cash and knprest Cash
Cash wNh Fiscal Aqent
Taz k�crerr�enfs Reoeivable
Acca�nls Receivable
Acrnied IMerest Receivabie
Lwrts Reosivabb
Co�tracts Reoeivable
Lease Payrtier�Ls Reoeiveble
Uneerned Firwia Charye
Due hom Capital Projecls Fund
Due hom Debt Service Fund
Due irom LowlModente
Income Ha�sirq Fund
�� S�
RetisrrielbC�er FunQs
_ 13.679.049 ; - - 79.375.699 27.705.249 � ����iy�. r . ..' ', ;9� ,� i 120,959.997
--_ - 20.698.537 1.161,062 1.362.952 _ _ F�j�!+���M{,��,�*,�-:,�s. � 523.222.551
- - - - - - - !; A'?F��'_ +''�., -, . ��"���! :i:R�';' � SO
� _ _ z�s_ _ �sz.s�s — - _+.soa _ �'�-�;;�6?'.`"�';'�":�:�`''.:�-J s�sa,�oo
- I', r s � . ..._ ,,
- - 1,351,d90 _ _ 5.339_ _ 276.471 _ _ �j �� ��,'' � ;��� � 51,633,700
-- — � c�i'!t,'S�' ^_' �'.� _ �a�.•..�=�y..
- - _ - _ - - - - - n;a�o ",�.'.>�"����:!¢�a*���'�.� sn,s�o
- - 2.000�000 - - - - 7.659�437 _ _ ��t;c�i:,:��; :y �.';�,A.-x�i:' ���'-»i�,:?'?.'R`.' t9�659.437
- - _- -- - - , _ � _$��:_,.�?�'!�j i0
- - — - - �'��:5;�1�'"'i'�+�'J i0
- - - - - - - - - � ����,���� �
- - - � N'�!��,.�'��`.'�i,,��-�"�.':i so
- -_ -- - - -- - �'.y��a�,+;,.,+,�.,.��a.•,�ir{;j-:�t��x!C � ip
- - .t • ,. . .
" _ - __ _ _ _ _ — _ I"j�I'�'.,�Y�: �'�F ��'��*��1;.. .:ti j:1�;, , , � iN
.� !
BaMnoe Sheet - Assels and Olher Debils
PaQe 1 12/142006
Balanc� Sh�et - Ass�ts and Oth�r D�bits
LowrMod�rat� Sp�clal
FMcal Y�ar 400� Gpltal Pro�tfs WD[ JlrYICf 111CORM nOusir� ne��nu�ivu�r� ue�w��i �v��yr vsiwriii �iw�i
Funds Funds Funds Funds T�rtn WM A:s�ts Total
( � �
Investrnents
Olher Assets 6.588.172 � 7.583 14.009
[ .. , . � : Land Field 1or ������� - - - _ 25,000 i
Resafe
Aiowana tor Dedne In Vaiue - — — — ��',�.�l��.l� - —
of Land Held tor Resaie
Fbced Assets' Land. Str�x:hres. >
and [ � . . . L. - .. ... . . .
E��►+� ~� _ y . . . . ,'"'I -
NnouM Avaieds In Debt , i _ .. . _ . .. _ . ;���
Servioe Fu�d
Artiount to be Prwided for �' — „ _ � - — -: fJ -
Payrrbnt oi Lon�Term Debt
Tohl Au�ts and Ofl�er � i4I.517.924 � t81.342,599 � f37.125.836 �
D�bNs
(AAist Equd Total Liabilities,
Other Crodits. and Equihes)
B�lanoa Shset - llsseb and Olher Debtls
Pape 2
— �=;1�t•£��-�ii:?��''''_5'.��'r4►�� to
I��a,'tl�s��+��' �i�19��'.� �,609.764
� '�..:i��f:�` =.�'�''�'`�� �1 szs.000
_ �����"���:::�: :�f .� sa
. �.__
�l�ur �' �� — -149.222.432 � f 149,222,432
_ ',"�{�'�"' `'•` �re ; _ 144.253 I i/44.253
,
_ 42.Ed 1.056 �.. t��r%� y^:;•',��-' �� f42.d81.056
_ 235.610.666���'q��%y�:�e` �"� 5235.610.666
t0 � 5278.521,722 � 5149.368.685 � i590,874,786
12J142008
Balanc� SFw�t - Ass�b and Ofh�r D�bib
LowfMod�rae� SwciN
FMcal Y�ar 200t Capkal Proj�cb D�bt S�rviu Ineonr Housinp R�r�nuNOflwr G�n�nl Loep. G�n�rsl Fix�d
Funds Funds Funds Funds T�rtn D�bt Ass�ts ToLI
(
r :
�
LowfMod�r�t� Sp�ctsl
Fiscal Y�ar 200t GP�� PfO�� a� �rvk� Incort� Housinp R�wnuNOth�r G�n�nl Lonp� C�er�►al Fix�d
Funds Funds FunQs Fu►K!s Teim D�bt AssNs
Li�bNltMs and OfMr Cndits
Accants Payabie _ _ 3.919.567 6.591 2.599.Ob4
In6e►esi Payabie - . - _ '
Tez Ariticlp�bn Noteo Payable
Loaru Payabie - - - � - - - _ -- - - - -
Olher Liabities 106.619 37,782.479 664,208
ous to capiw Prejecfs Fimd - - - - - - - - - -
Due io Dabt Service Fu�d - - - - - - - - - -
Due to Lowll�Aodente Incar�e - - - -
Fbusirg Fund
Due to Special - - , - -
Revenue�0aierFunds
Taz Nocation Bonds Payable � .y.�1�� _ i'�i�.'�,��_3.'��wYz�':�:�•�: � -
Lease Reverxie. Certi6cates of '.��!'r�4�+�,Jr:�j'•y����� i..`.�.'Jr►.�'};�yig y�r'�'':
Participation Parade. Finandny � " - - - - -
AuM�orily Bonds
A1 OC� Lon�Tertn Debt �` ��!�?,." -- 1' y.�ry�����..1C�r�-�.�.1— -
Total l.hb�kMs and OIMr � s4,026,166 � f37.789,070 � 53,263,292 �
C►�dks
Total
_ c� � r� � , ,-s^ �
��X ;:. . _ 't 5. •n'�.,4?.,.;�it" i6.525,242
� _ �?�:�'�;�,r:��. w
I�'��� i��_: iI �1 ��' : � � � �
. �,Y1+�:'.ii. w �� 1.I1G"'..M`f�.Ui I . .'��.� '�
i=�C;l;�T :�`_= ;Y =' •� `�''J � �`� � f38.5S3.308
. i't� ��'���`�.� '�.�'��?�.�. � so
.: c, i.. �
— -r� f'�"�' _'�V��� ��. •^��C —!t � �
�'. � �`-.,; �'T '�'�;; _��::'r-I SO
---T �-, -� - . ---.r.�, .
:� � �
_ 245,000,000 ' '� '' �' �`•',•' '� 5245,000,000
�� . k,�: • :
- � ; �--- -�--; � so
`Y•.
- - - --33.521,722 �;•�`�.�''w��-,� ;,�#'-� S33,S21.722
f0 � i278.521.722 � .; �. � � ' ����' � � 5323.600.270
BaFance Sheet - Liabiities and Other Credils Page 1 12l1I/2006
Balanc� Sh��t - UabilFti�s and Oth�r Cndits
(
EquKf�s
Investrrx.rit In Gerxral Fcced ;��`��'���► ��, �,#�:•..'sE'r�• .,e�.*��,��'?n ,�r�
Assels
Fund 8alanoe Reserved _ 33.4E5,121 _ 672.473 30.OE0.879
Fund Baiorxae _ 9.063.221 � _ 42,881.056 4.137.547 '
Unreserved-0esipnated
Fund Bafx�ce Urxeserved- -2,056.604 , -355,882
U�� ' - - - - — — — - - —
Totd EquMMs � 540,491,738 � 543,553,529 � f33,862.544 �
Total LIabIINMs,
Otlwr Cndlls, and
EquMf�s
� i44,51�,924 � id1,342,599 � 537,125.836 �
�: }�.' �y '� ;: :,�� - -149.366,685 � f149,366.685
� +''?='•'':�:.~ :- -}, . . �:�: �'' .� -;T � . � i64.238.473
� � ;-.rr
k'�� ��• "'��. �; '{' •._=i , "1 556,081,824
_ � >'•:•?L=: •i,�?,�L• :��I= : �•.xt • ::;� ._r: .' (=2,412,486)
:.. � . _ i� _
SO I�:•,;; �, =';"; "`'�-_"�; ;•� i149.366.685 � 5267,274.496
SO � 5278.521,722 � 5149.366.885 � 5590,874.766
r
Bapnce Sheet - Lfabiitl�es and ORier Credts Pape 2 12/14R006
Balanc� Sh�t - LiabiliH�i and Otfi�r Cndils
LowlMotMnb Sp�chl
Fiscal Y�ar 2ppi Capltal Proj�cb D�bt S�rvk� InconM Housinp R�v�nuNOth�r G�neral Lon¢ G�n�ral Fixed
Funds ' Funds Funds Funds T�rm D�bt Ass�b ToLI
r
� _
�
Stab�rt»nt of Incom� and Exp�ndkuns - Summary, Combin�d Transf�rs InlOut
Fisul Y�ar 2006
Op�ratlny Tran�hrs In
Tax Inerwmnt Transbrs In
Op�ratlnp Tnnshrs Out
Tsx Incnm�nt T►snsi�rs Out
i33.645,169
S 15,404,79a
533.645,169
f15.404.798
Statement o( Inoome and ExperMitures - Summary, Pape 1 12/14/2006
Combined Transfers INOut
i
City Of Pslm Desert Redevelopment Agency
Redevelopment Agencies Financial Transactions Report
Ststement of Income and Expenditures
R�v�nu�s - Consolidabd
Fisul Y�ar 200i
GpdN ProJ�et Dlb� 5��11k�
Funds Funds
LowlModerab Speclal
IncortM Housirg R�venuMOtlwr
Funds Funds
Taz Incrwn�nt Gross
Sp�eW SuppMnrnhl Subv�Mfon
Propa[y Ass�ssm�nls
Sahs and Us� Tax
T►ansRnt Oeeupancr Tax
InUnst Ineon�
R�nt�l IncanM
L�ase Incom�
SaM of RNI Estat�
Galn on L.a�d FiNd for R�sal�
F�ral Grants
Grants irom Ofh�r Ap�nebs
Bond AdrNnNtntlw FNs
OfMr R�v�nu�s
Total R�v�nws
�
�
�
�
�
�
�
�
�
�
�
�
�
�
�
f0 �
SO �
i0 �
SO �
SO �
S1,S00.984 �
f0 �
SO �
f2.670.000 �
SO �
SO �
t0 �
i0 �
557.251 �
i4.228.235 �
577.023.990 �
SO �
SO �
f0 �
SO �
f1,421,695 �
SO �
SO �
SO �
SO �
f0 +
i0 �
SO �
i489.548 �
S7E,935,433 �
f0 �
i0 �
SO �
f0 +
SO �
5940,766 �
t4,627.082 �
f0 �
5487,796 �
i0 �
� �
i0 �
m �
5263.102 �
i6,318.7�6 �
SO J
SO �
f0 �
SO �
SO �
t0 �
SO �
i0 �
SO �
SO �
f0 �
t0 �
f0 �
fU �
SO �
Total
577.023,990
i0
SO
SO
SO
53,863,645
54.627,082
f0
23.157.796
SO
SO
SO
SO
SE09.901
t89,482,414
�
Revenues - Consafdated Pape 1 12/14/2006
�
�
City Of Palm Desert Redevelopment Agency
Redevelopment Agencies Financia! Transactions Repo�t
StaterrNnt of Income and Expenditures
Expendituns - Consolidat�d
Fkeal Y�ar 200i
Adminktratlon Costs �
ProfMssbn�t SeMc�s �
PMnninp, Sunrp, and D�sipn �
R�al Estat� Pureh�s�s �
Acquislffon Exp�nse +
Op�ralbn of Acquind Prq�Ry �
Rdoe,inon co�es �
Rebcatbn Payrn�r�ls +
31b CMa►ane� Costs �
Proj�et Imp�ov�r►wnt / Construetbn �
Costs
Disposal Cosb �
Lass on Dlsposiflo� d Land FMId fa �
R�saM
E�e�ditures - Consofdated
Cap14H Proj�cb
Funds
51.798.642 �
i1,265,443 �
f0 �
m�
f0 �
m �
SO �
m �
m �
i0 �
f0 �
� �
Lv..ti.,w_:.:.. er...,�.�
D�bt 3�rvk� Ineonw Houslny R�v�nuNOfh�r
Funds Funds Fund�
SO � S7E7.505 � i0 �
i34.Od5 � s333,837 � f0 �
i0 � f0 � SO �
s� I s� I s� I
so � so I so �
so � ss.as�.an � so �
i0 � SO � f0 �
f0 � SO � SO �
SO � f0 � SO �
SO � SO � SO �
SO � i0 � i0 �
i0 � s0 � SO �
Page 1
Total
i2.5s6.147
i1.653,�65
SO
w
so
ss.as�.an
SO
f0
SO
SO
SO
f0
1T1142006
�
, � �
City Of Palm Desert Redevelopment Agency
Redevelopment Agencies Financial Transactions Report
Statem�nt of Income and Expenditures
Exp�ndituns - Consolidat�d
Ffsql Y�ar 200i
Capifal ProJ�cts D�bt S�rvic� LowfMod�►ab Sp�cial
Funds Funds Incom� Housiny R�wnwlOtMr
Funds Funds
A B C D
D�clir� In Valw of Land HMd for � SO � SO � SO �
RtsaM
R�habNhtbn Cosb � i0 ( :0 � :0 �
R�hab�itatlon Grants � s0 � :p � =p �
i�a�.c exp.�. � w � s�4,o�s.s» I so I
Flx�dAss�tAequlsltlo�ts � s�z,s�s.oso � w � s�s.asz,�s� �
s�e.w� co �a,�,.�a �a.►.a � w � so � so �
Incon� Houskg Fund
O�bt I�twne� Cosls � SO � SO � :0 �
Oth�r Eup�ndkur�s Includiny Pass � SO � S36.E44.062 � SO �
ThrouQh PaymeiH(s)
O�bt PrinclpN P��menfs:
T�x Abeafbn Bonds and NoMs � SO � t5,485,000 � i0 �
Rewnu� Bonds and � SO � SO � s0 �
C�rtlfkal�s of Partklp�tbn
CIlp/County Advanc�s and Lwns ( s0 � ip ( f0 �
u.s. 3taN an4 OfMr Lon¢T�rtn D�bt � so � s�22.�0� � so �
Totd Exp�ndkuns � 515,277,145 � 558.558.425 � 524,931,486 �
Exuss (D�fkl�ncy) R�v�nws � (511.04a.910) � 522.377,008 � (i18.612,740) �
Ova �Unda) Exp�ndkuns
E�endihxes - Co�sofdated Pape 2
SO �
SO j
SO �
�I
SO �
so �
SO �
f0 �
SO �
t0 �
SO �
so �
SO �
SO �
Total
E
SO
so
t0
514,072.571
i29,105.227
so
SO
f36,844.062
ss.4as.000
SO
SO
s�z2.�o�
598.787.056
(i7.284.642)
12J14/2006
(
City Of Palm Desert Redevelopment Agency
Redevelopment Agencies Financial Transactions Report
Statement of Income and Expenditures
Oth�r Financing Sourc�s (Us�s) - Consolidabsd
FMcal Y�ar 2006
ProeNds of Lor�T�nn D�bt �
Prockds of Refundinp Bonds �
Payrrrnt to R�fund�d Bond Eserow Ay�nt �
LowlMod�n� Sp�cial
CapiW proj�cfs D�bt SKvic� Incan� Housirg R�wnuNOfher
Funds FurMs Fund� Funds ToW
:0 � s0 � SO � SO � SO
so� w� so� w� so
so � so � so � so � so
Advanus iran CkyfCounry � f0 � i0 � SU � SO �
Sal� d Fix�d Ass�ls � so � w � so � so �
Mse�r�ous Financin� 3ourc�s (Us�s) � (f14.381) � f0 � SO � 3U �
Op�ratlny Tra�uhrs In � t14,432,797 � 517.340.a62 � S1.d71.510 � t0 �
TaxlncnmentTnnsf�rsln ��i�:��1blaNrai•s��� 515.4W.798 ��'����.��j
OperatNg Transi�rs Out � 55,090.648 � 522.695.583 � SS,ESa.938 � SO �
���--:�•� .�—��
^is•.: T 7J.� � t
TaxlncnnwntTransbrsOut � SO � i15.404.798 �'�'+�f� . . .
(To the Low and bb�derate Inaome
Haus�ng Fund)
Tofal OfMr Fin�ncinp 3ourc�s (Us�s) � i9,327.768 � (i20.759,519) � 511,417.370 � SO �
SO
SO
(S14.381)
533,645.169
515,404.798
533,645,169
f 15.404,798
(514,381)
(
Other Finananp Sour�es (Uses) - Consolidated Paye 1 12/14R006
�
City Of Palm Dese�t Redevelopment Agency
Redevelopment Agencies Financial Transactions Report
Statement oi Income and Expendituros
Ofh�r Financing Sourc�s (Us�s) - Consdidated
Exc�ss (DMef�ncy) d R�v�nu�s and OfMr�
Financirg 3ouro�s ov�r Exp�ndlfur�s and
Oth�r Fin�nciny Us�s
EquKy B�ylnniny of P�►bd �
Prtor Y�ar AdJustm��ks �
R�sfdwl Equky Transi�rs �
Oth�r (E:phln) �
Equky, End oi Perlod �
CapIW Proj�eb D�bt S�rvle� LowrMod�rah Sp�eial
Funds Funds Ineortr Housiny R�v�nw/Ofl�r
Funds Funds
A B C D
(i1.721.142) � 51.617.469 � (57.195.370) �
542.212.880 � s41.936,040 i 541.057.914 �
f0 � t0 � SO �
f0 j i0 � i0 �
i0 � t0 � f0 �
:40,491,738 � 543,553.529 � 533,862,54� �
Total
E
SO � (57.299.023)
SO � 5125.206,834
SO � SO
f0 � t0
SO � i0
SO � 5117,907.E11
r
Other Finanany Sour�es (Uses) - Consofdated Pape 2 12/14/2006
( ( ( :
Fiscal Y�ar
Project Area Name
Tax Inaement C►oss
(InGude All Apporbonments)
Special Suppkrnental Subverriion
Property Assessmenls
sales and use rax
T�anslent Occupsncy Tax
Intaest Inoome
RenW Inoortie
Leae Incartie
Sab of Real Estate
Gain On Land Held for Resale
Federal Grank
Grants hom Other Aqencies
Band IkfrmistratNe Fees
Olfxr Reverxies
Total R�v�nws
Stabn�nt of Incom� and Exp�ndituns - R�v�nu�s
12oos J
�Consolidated Low and Mod�rat� Income Housing Funds
LowllMod�►at� sp�cW
Caplfal ProJ�et D�� Sf/YICf Incarr HousinQ R�v�nuMOtl»r
Funds Funds Funds Funds
� - � - - - - . . . t':f�.. T �''� ��<4"7
-- - - •- - �
- - - - —�
- - - - - _ - i
— . - r - - - - -- �
_ _ _ _ _ 940.766 �
- ' - - 4,627.082 i - - �
- - -- - -- - - --• - -.. _ �
— - - — - - - - 487,796 -- — �
_ _ -_ _ , _ _- i
-- 1 - - - �
- - — - - - - - �
- — - T - - - •- _ 263.102 _ _ _ �
� SO � i0 � 56.318.7�6 � SO �
StalemerN o( k�ne and E�erxJfWres - Reverxies
Pape 1
Tohl
SO
SO
t0
SO
SO
S940,766
t4.627,082
SO
s4a�.�ss
SO
t0
SO
SO
5263.102
56.318.7�6
12/14R006
' ( (
��
,-� -:�
. rt� ., .. `�•.- ..
Stat�rr�nt of Incom� and Exp�ndkuns - R�v�nu�s
Fiscal Year L006 �
Proj�ct Aroa Name iPalm Desert Financing Authority
LowrMod�rat� sp�clal
CapMal Proj�ct Debt Servk� Incortw Housiny R�v�nuNOtfier Total
Funds Funds Funds Funds
Ta7c InCreTnEnt Caross _ . '''. "�r. '.:' ' • �� SO
(InduQe A!1 Appdtionments)
Speciai Suppbrt�ental Subv�ention _ — - - - - � SO
Prt�perty �lssessrt�ents - - _ - - _ - - _ � SO
Sales and Use Tax -- --- - � SO
Transient Occupancy Tax . - - - - - — - I f0
Interest Income 42.841 � 542.841
RerMal Inoane - - - - - � i0
Le�se Incane - - - - - - � SO
Sale ot Real Estate � SO
Gain an Land Held tor Resale — - - -" _ - _ � -- - � f0
Federal Granls - - - - - - _ � - - - - - � SO
G�ants hom Olher AQencies _ _ _, SO
Band AdmNstrative Feas SO
Olf�r Revernies - - , - - - - - - - _ -- - - � SO
Total R�v�nu�s � w � s4z,a4� � w � so � sas,a4�
Statertient oi k�oome and E�endihxes - Reverwes Pape 2
1 TJ142006
(
(
Fiscal Yoar
Project Aroa Name
Tax Inaertient C�oss
(lndudb /UT Appo►tanmentsl
Special Supplemental SubMenrion
Property Assessrnenis
Sales and Use Tax
Transient Ocapanc,y Tax
Interost Inoorne
Rental Inoort�e
Le�se Incart�e
Sale of Real Estate
Gain on Land Held tor Resale
Fedenl C�xMs
Grants hom OCxr Aper�cfes
8and AdmMstrali�e Fees
OR�er Reverxies
Total R�v�nu�s
Stabrr�nt of Incom� and Exp�ndituns - R�v�nu�s
�2� �---- �
Project Aroa No. 1
LowlMod�rab Sp�clal
CapMal Proj�et D�bt S�rvk� Inca+» Haulnp R�v�nw1011Nr Total
Funds Funds Fueds Funds
- — � t�-+..`,�
1 45,766.926 � f45,766,926
� ..... .... ' . ��
-- -- - -- �- — --- - � SO
- - � SO
- - - — - � - — -- + SO
- - : — - � SO
584,143 884,256 - - - � s1,468,399
• — -- , — - --- � f0
_ � SO
- . _ . � SO
- - - -- - — - �
'L ' _ - _ _ '_ �
I- - - '^
iV
_ _ I - _ - _ _ . - - ' N
— - � SO
5.001 � _ 489.548 � - -- - — - -+ i494,549
� ssas.�� � s4�,t4o.�so � so � so � s4�.�2s.e�4
Sfaiement oi Incane and E�endlures - Revern�es
Pape 3
12I14l2006
( _
(
.
Stabrr�nt of Incom� and Exp�ndituns - R�v�nu�s
Fiscal Y�ar �2006 �
Proj�ct Ana Nam• ,Project Ar�a No. 2
�ownwoe.�a s�ai
Caplfal Proj�ct D�bt Senlu Inearw Housing R�v�nw/OtMr Total
Funds Funds Funds Funds
Taz k�crertront C,�oss i - - 15.218,31 S �':d'�`;c.�� �,.:. �: �� 515.218,315
_ _ , u •.,
(Indude A11 Appationments)
Special Suppierrxntal Subvention - - � SO
Praperty Assesxrbnts . - - - - � SO
Sales and Use Tax - - - - - - - - - - - � f0
Traraie�t Occupanc,y Taz - - - - - - _ _ � t0
Inierest kxome --- 219.481 � 317.721 - - � 5537,202
RenW inoort�e - - - - - - � t0
Le�se Inoome • _ _ � SO
Sab o( Real Estate - . - - � - . - — - - - - - - - _ I SO
Gain on Land Held tor Resale - - - - - - - , i0
Federal Grants - j - - - _ _ + f0
G�ar,Ls frorn oa,N Ap�des - - - - - - - - - - - - — I so
Bond AtkninistraWs Fees �- --- � t0
Olher Revenues _ � - - _ � - - _ - - - - - _ _- � SO
Total RRv�nu�s � 5219,4E1 � t15.536.036 � f0 � SO � 515.755,517
(
Staterf�rt of Incartie and E�endMures - Reverxies Pape 4 12/14l2006
�
(
StabrrNnt ot Ineom� and Exp�nditur+�s - R�v�nu�s
Fiscal Year �200fi �
Proi�ct Area Name Proj�ct Aroa No. 3
LowlMod�raM Speclal
Gpkal ProJ�et D�bt S�rvk� Ineortr Housiny R�venuMOtMr
Funds Funds Funds Funds
Tax Incrernent Gross -- -3.442,566 -- rr���wl�.' �•i�i ;��
(�ndude a�,appoinonmenrs)
Spscial Supplertientai Subvention _ - - -� _ - - �
PropeM Assessments ; — - - �
Sales and Use Tax � — - - - — - i - - - - — —�
Transient Ooaipan�y Tax � - - - - ' - - - �
InMrest Mcome � 114,917 8d,588 - - �
Renfal Inoome - � _ _ _ . . . _ — _ _ - - �
Lease Inoonie
Saie d Real Estate 2.670,000 � � - - _ - -
Gain on Land Held for Resale - - -
Federal Grants
Gran4s firom OU►er Apencies - - - -
Band AdministraAve Fees ^
Olf� Reve�ues _ , - - -
Total R�v�nu�s � 52.784.917 � 53,531.154 � SO �
Statert�erK oi kxorne and E�endituros - Reverxus
PaQe 5
-- �+
1
SO �
Total
i3,442.566
SO
SO
SO
SO
5203.505
SO
t0
52,670.000
t0
SO
SO
SO
SO
56.316,071
12/142006
�
(
.�
,-�:,�
. .: : . .. .:. �
StabrrNnt of Incom� and Exp�ndituns - R�v�nues
Fiscal Y�ar �2M6 _ _ _. _ �
Project Aroa Nam• Project Aroa No. 4
LowlMod�raie Speefal
Capifal Proj�ct D�bt S�nk� Ineam Housiny R�wnw/OtIKr
Funds Funds Funds Funds
Taz Inc�ernent C�oss
(Indude All Appabmments)
Special Supplemental Subve�tlon
Property Assessments
Sabs and Use Tax
Transient Occupancy Tax
InEe►eat Incane
Re�al inoome
Le�ss Incane
Sale of Real Estate
Gain an Land Field ior Resale
Fcderal Grants
GnrHs hom Olf� Apencies
Bond Administratl�ra Fees
OlherRerenues
Total R�v�nu�s
- - 12.596.183 i''�.��!*:�h-:-%' --��i
- -- - - - �
_-_ - - --- - - '
- —L - - - _I
- --i- -�
582.443 - - 8a,489 - - - - - - - �
- - - • - - � f
_ �
_ �
_ - -� __ - -- - - - —.�
- - �
- -- — - - 52.250 _ - � - - . _ - -_ - - - - �
�- sa�.sss � s�z.sa4.s�s � so � w �
Total
512.596,183
SO
SO
w
SO
f670.932
SO
t0
t0
SO
SO
SO
i0
i52.250
513,319,365
(
Sfaterrknt of Inoar�e and E�endKures - Revenues Pape 6 12/14R006
(
(
Stat�m�nt of IncorrM and Exp�nditur�s - Exp�ndituns
Fiscal Year 2006
Project Aroa Name Consolidated Low_and_Moderate Income Housing Funds _
Capkal Project D�bt Servk� LowlMod�►al� Spcclal
Funds Funds Incortw Housinp R�v�nuMOtfNr Total
Administration Costs _ 787,505 ' � 5787.505
Proksoion�l Services _ 353,937 � 5353.937
PianninG, S�aveY, and Desipn - - • - - - ` i �p
Real Estate Pur�dwses I I =�
Acquisitlon Expense _ � s0
Opera4on of Aoquired Property - -- - - 6,897,d77 _ � t6.897,877
Relocation Cosls � SO
Rebcatlai Paymerks ^ � s0
Site Clearanoe Cos1s — — — - - — - - — - - - _ . _ � SO
Project Improvement / Constn�ction Cosls - - - - - - - - _ - - � f0
Disposal Costs - - — - - - - � t0
Loss on Disposidon of Land Hdd for Resale - - - � SO
StatemeM of Ir�oane and E�endilures - E�dNures Paye 1 12/142008
� � �
Decf��e in Value of Land Heid b► Resale
Rehabitation Costs _ - -
Rehabilalion Granfs _ _ �
Interost Expense - -- - — - -
Ffxed Assct Acquisitions - - — _
Subsidies to Low a�d AAoderate Income -- --
Flaulnp
Debt Iss+iarx,e Casls
Other Expendihres Indud�q Pass-
Throuph Paymerrt(s)
D�bt Principal Paym�nls:
Tax Alxalbn Bands and Noles
Revanue Bonds. Cerfilicates of
Partidpafbn. Firurx�.inp N�IhaNy
Ba��As
Cily/Canly Advanoes and Loans _
AA Olher Lonp-Tertn Debt _ _ _
Total Exp�ndkuns �
Exe�ss (DMel�ney) R�v�nws ov�r �
(und�r) Exp�ndkuns
f0 �
so �
- - - � SO
- - - - - - � SO
� SO
� � SO
16.892.167 - - - -- - -) i16.E92.167
� SO
-- + t0
� �
— ' �
� — - - - � SO
___— � _ � __I �
r- i _ I �
SO � 524.931,486 � SO � 524,931.4d6
w � cs,a,e,s.�,o� � w � cs,s.s,2,�,0�
smcernent ot tr,come ane E�endiluros - Exvendih,ros Fa�e z 1vl�rzoos
Stabm�nt of Incorr� and Exp�ndituns - Exp�nditur�s
Fiscal Year Zppg
Project Aroa Name Consolidated Low and Modente Income Housing Funds
Capihl Proj�ct D�bt S�rvk� LowfMod�raM Sp�eial
Funds Funds Incarr Housi�p R�v�nw/O1Mr Total
0
(
Adminfstraaon Costs - - - - - -
-�- -
Prolessio�►al Servic'.es - - 1 -
PFannirg. Survey, and Desipn - - - - - - - -
_ �
_ �
-- -- �
Real Estate Purchases - - - _ _ - �
Acquisifion Expense - - - - - - - - — � - - �
Operalion of Aoquired Property - - - - T - - r - - _ I
Rdaafbn Costs - - - - - - - �
Relocalbn Payrt�erns - - - - - - - - �
SAe Clsaranoe Coals - - - • - - - - - - �
Project Improvertient / Constrt�lfon Coats _ _ _ _ � _ _ i �
Disposal Castt - - � - �
Lou on Diapasition of Land Held ior Resale _ _ _ : _ �
s0
S1
SO
SO
SO
SO
SO
t0
SO
SO
SO
t0
Statert�ent of Inoar�e and E��dpuros - Experd'Aures Page 3 12/14/2006
f =
Staam�nt of incom� and Exp�nditu►ts - Exp�ndituns
Fiscal Year 2pp6 ,
Project Aroa Name �Palm_ D�sert Financing Autfiority ___. _
Gpltal Pro}�ct D�bt S�rvic� LowrMod�nl� Speclal
Funtls Funds Incarr Housinp R�v�nw/Oth�r Total
�
(
Dedine in Vakre of Land Fkid for Resafe
RehaDitetfon Costs _
RehaWiWtfon Grants _
Inl�est Expense
Faed As.set AcqutsNbns _
Subsidies b Low and Moderate Income
- - - � SO
T - — — - — - — - - � SO
� SO
12.409.965 _ _ � 512.409.965
- - - - � SO
- - _ _ I SO
-- _ - - - -- - � SO
- -- - -- - -- --- - I SO
Houshg
Debt Issuanoe Costs - - - T -
Other Expendih�es IncMidinq Pass-
Throuph Payrt�crM(s)
Debt Principal PayrrrMs:
Taz Nocation Bonds and Notes
Revenue Bonds. Certilicates af
ParticqaHon. Financiny I1uMwrily
Baids
�Y��Y Advar�ces and Laans
A1 OCier Lonp-Tertn Debt
Total Exp�ndkuns �
Exuss (DMeMney) R�v�nws ov�r �
(und�r) Eap�ndltuns
5.485.000
t0 � i17,894,966 �
SO � (=17,a52.125) �
� S5.4S5,000
� SO
-- - - — --- I t0
� f0
SO � SO � 517.894,966
SO � SO � (517.852.125)
Staternent of Inoortie and Expendilures - Expendiluros Pape 4 12/14/2006
(
StabrrMnt of Incorr� and Exp�ndituns - Exp�ndituns
Fiswl Year ;2ppg
Project Ana Nam• Palm D�sert Financing Authority
CapNal Proj�ct D�bt S�rvk� LowlMod��ab Special
Funds Funds Incarr Housiny R�v�nuNOther Total
� � =
Stabm�nt of Incorrw and Exp�ndituns - Exp�ndituns
Fiscal Year ,2006
Project Aroa Name �Project Ama No._ 1__ _ _ _ _
Capkal Proj�ct D�bt S�Mc� LowlMod�rat� Sp�clal
Funds Funds Ineortw Housinp R�v�nuNOtl�r
Adminishation Cocts 1,715.641 --- _ � t1,715.641
Profestiaial Services 73d,Sb4 _ 16.663 : -- � 5755.247
Plannirq. Survey, and Desipn _ - - - - - - - � SO
Real Estate Pixd�ases � SO
Acquisition E�ense � f0
Operation of AoquKed ProQerty � SO
� �
� �
j SO
I �
� �
� �
Relocation C.osls —
Relocation Paymenls - - -
Site Cb�uanoe Costs
Project I. ,. �.. ., d/ Co�str��tion Cosfs
Disposal Costs _
Loss on Dis{�oaibon ot Land Held for Resale
Total
StatemeM of Incarx and Expend'Aures - Ezperbiluros Pape 5 12/14R006
(
Stabm�nt of Incom� and Exp�ndituns - Exp�nditur+�s
Fiscal Year yppg
Project Aroa Name Project Ana No. 1 __
Capital Pro}�ct D�bt S�Mc� LowlMocN►ab Sp�cial
Funds Funds Incanw Housiny R�v�nwlOtMr Total
Decf�ie in Vak�e of Land Held for Res�le
Rehabikation Casls - - -
Rehab�ifatlon Granfs
Inierest E�er�se 7d5,E97
Fcced Asset Acqusitions 6,570,951
Subsidies to Low and M�oderale Incortx
��
o�t �,� co�r�
Olher Ezpendihxes Indudinp Pass- - - - - - —20,624.510
Throuqh Payment(s)
D�bt Princip�l �apm�nls:
Taz Nocadon Bonds and Notes -
Revcnue Bonds. C�Micates o( - - - -
Partidpatbn. Financinp Autl�ority - —
Bonds
CitY/Cou►�!Y Advances and Laern T
a oa� �o�-r«�, oent �
Toql Exp�ndkuns � 59,025,176 � t21.427,070 �
Excess (DMkMncy) R�v�nu�s ov�r � (58,436.032) � i25.713,660 �
(und�h E�ndkuns
� SO
_ _ � f0
_ _ � SO
� 5785.a97
_ _ . � 56,570.951
- ---- I so
� so
� 520,624,510
SO �
SO �
_ � t0
- - � SO
- - � SO
_ I s�
SO � 530.452,2�6
so � s».2n,s2s
Sta�ernent of Irxarb and Expend�ures - Expendilures Pape 6 12/14R006
f
(
Stabm�nt of Incom� and Exp�ndituns - Exp�ndituns
Fiscal Year yppg
Project Aroa Name Proiect Aroa No. 2_ _. _ _ _
Caplhl Proj�ct D�bt S�rvk� LowlModaaM Speclal
Funds Funds Ineonr Housiny R�v�nwlOflKr Total
Administratfo� Costs - - - 62.788_ — � - - � Sfi2.788
Protessionai Services 265,030 _ 8.983 � f274,013
Pianninp� Survey, and Desipn -- - � f0
Real Estate Purd►ases - - - — - - _ - - � SO
Acq��bon E�ense - - - — — - � SO
operabon or A�red ProperN . - - - � w
Relocalion Cosfs _ _ � sp
Rebcafi�on Payrtienfs - - - - - - � i0
Sile Cbarance Casts - - - - - - - � t0
Project Improverr�ent ! Consfniction Costs � -
Disposal co�ls
Loss on Disposidon of Land Hdd tor Resale
_ � SO
� t0
_ � SO
( _
Statertient ot Incar�e and E�end'Aures - Ezper�dRures Pape 7 12/14/2006
(
Stabm�nt of IncorrN and Exp�ndFtur�s - Exp�ndituns
Fiscal Y�ar Zppg
Project Ama Name Project Ama No. 2 _.
CapNal Proj�d O�bt S�rvk� LowfMod�nt� Sp�cial
Funds Funds Incort» Houslny Rev�nuNOfMr Total
Decine in Value of Land Fleid for Resale
Rehabifabon Costs -
Rel►ab�ifalbn Grants
Inte�st E�ense 808.086
Fuced Asset Acquisitions 3,277.617
Subaidies to Low and Moderate Income ---
Flousinp
Debt Iswance Costs
Otl�er Expendihxes Indudinq Pass- 6.944,013
Thraiph Payrt�d(s)
Mbt Principal Payrn�nfs:
Tax Nocation Bonds and Notes
Revenue Bonds. CerUlicates o(
Participation. Fnanc�q Aulhority - - - - -
Bands
CilylCaxMy Advarias and Loans
111 Olhsr Lar�Tertn Debt - - - - - - - - 122.707
Tohl E:p�ndkuns � 53.605.435 � t7,S83,7E9 �
Exuss (D�1fel�ney) R�v�nu�s ov�r � (53.385.954) � i7.652.247 �
(und�r� Exp�ndkur�s
SO
SO
SO
i808.086
53,277.617
SO
SO
56.944.013
- - � SO
_ � SO
SO �
SO �
_ .� �
� 5122.707
SO � 511.489.224
SO ( 54.286.293
Statement oi Inoort�e and ExpendKures - Expendih�ros Paps d 12H4/2006
1
r
(
Stabm�nt of Ineom� and Exp�ndFtur+�s - Exp�ndituns
Fiscal Year yppg
Proj�ct Ar+�a Name �Project Ana_No. 3 _
Capital Proj�ct D�bt S�Mc� LowlModaab Sp�clal
Funds Funds Incon+� Housirg R�venuNOtl�er Total
Adrninistratbn Caats - - - -12,942 - - - - - - - - - - - - �
Proiesoional Services - - - 108,416 ! - - 3,471 - - - - - - � - �
Plamirq. Sixvey. and Desiqn - - - - � - - - " - - �
Real Estate Purd�ases ' �
'4cquaibor► Expense - - - - - - . �
Operatlon o( Aoquk�ed Property - - - - • - - - �
Relocadon Costs - - - - - - - - - - -- � - - - - - �
RelocaMon Payrt�erMs -_ — - - ^ - - . . _ I
Site Gearar�ce C.osts - - - - - - - �
Project [ ,. � . . t / Constrt�,tion Costs ' - - - - - �
Disposal Costs - - - - - �
Loss on Disposllbn oi Land Fleld for Resale - - - �
512,942
5111.887
SO
SO
SO
i0
SO
SO
SO
SO
t0
SO
StelemerH ot Income and ExpendMures - Expsndkuros Paqe 9 12/1�/2006
( :
(
Dedne in Vakie oi Land Heid for Resale — - - -- - - - - , - � SO
Rehab�itation Cacts - - — - - - - - - I SO
Rehabilation Grants - - - - - - I SO
Interost Expense 68,623 � 568.623
Fixed Asset Acqu�ltions 12.329 _ � i12.329
Subsidies lo Low and AAoderate Inoort�e - � s0
Fiousinp
Dabt Issuanoe Costs - - � t0
Other Expendihaes Indud'np Pass- _ 1.902.374 � S 1.902.374
Throuph Payrnent(s)
D�bt Principal PhrmNfh:
Taz Abcatlon Bonds and No1es � - - - - - - - - - - - � i0
RevEnue Bonds. Certllk',ates of _ _ - - - - ` - - - - - - - I SO
PaAicipalbn, Fk�andnp AulNority
8onds
CiyK'.ounty /ldranoes �nd Loans _ - _ - _ - - - _ - - - ` - - - - + f0
A1 OTher Lon�Term Oebt ' - - — - - - - - � - - - • - - - � SO
Tota) Exp�ndltures � i133,887 � i1,974,46d � s0 ( :0 � 52.105.155
E:cess (DMcl�ncy) R�v�nu�s over � 52.651.230 � f1.558,686 � i0 � SO � i4.207.918 _
(und�� Exp�ndituns
(
Stabrtient of Inoorne and Expendkures - ExperidRuros Paps 10 12/14R006
StabrrNnt of Ineom� and Exp�ndkurMs - Exp�ndituns
Fiscal Y�a� Zppg �
Project Aroa Nams 'Proj�ct Ana No. 3 _
capRa� Proj.d �.bt s.rvic• �ow+IMod.►aa sp.e�a�
Funds Funds Inearw Housiny R�v�nuelOth�r Total
�
Administralbn Costs _ 7.271 - - �
Protessbnd Servioes — - - 153.413 — - 4.967 _ _ I
Piarr��p. Sixvey. and Desiqn -- -- _ _ �
Real Estate Purd�ases _
�� �nx -
Operalion of Acquired Property
Rebcation Coc4s
ReJocaion PaytnerMs
Siie Ciearance Costs
Project {mprovertient / Constnictlon Cosls - -
Dispos�l Costs
Loss on Ditpositlon oi Land Held tor Resale
_ _ _ �
- - - — �
- �
- - - - - - _ - '
- - - -. _. (
- - - - - �
_ _ _ _ _ _ _ _ � _ I
- - — -- - - - - - �
- - - - - � _ 1
i7,271
f 158,380
SO
SO
SO
f0
f0
SO
f0
SO
SO
SO
i =
Statemerd oi Incart�e and Expa�dNures - Expend'Aures Pape 11 12/14R006
Stabm�nt of Incorrw and Exp�ndkuns - Exp�ndituns
Fiscat Year Zppg
Project Ar+�a Name P Ject Arsa No. 4 _ _ _ _ _ _ _ _ _ _
Capifal Pr'aj�ct Debt S�rvk� LowlMod�rat� Sp�clal
Funds Funda Ineortr Houslnp Rev�nw/OfMr Tohl
I
SLirm�nt of Incom� and Exp�ndituns - Exp�ndituns
Flscal Y�ar Zppg
Project Aroa Name ProLect Aroa No. 4 _ _ _ _
CapiW Pro�ct MM S�Mc� Lo�MMod�raM Sp�ciN
Funds Funds Incortw Housinq Rev�nuNOC�r Toql
Decine in Value of Land Held tor Reaale - �
Rehabitatbn Costs _ �
Rehabitatbn Grants _ . I
Interest Expense �
Fcced Asset Acquts+tiona 2.352.163 - - - - - - - - - �
Subeidies to Low and M�odorate Inoortie �
Housing
Debt Iasuanoe Costs - - - - +
Other Expendihxes Inc�idinp Pass- _ 7.373.165 _ �
TTx�aqh PaYrnerx(s)
D�bt Prineipa) PaytnK�ts:
Taz Nocalion Bonds and Notes - — - - ' — - �
Reyenue Bonds, Certi6cates of _ �
Partfapelio�. Finananp AuC�oriy
Bands
CilYl'CoixMy Advances and �oans � - - _ —_ _ - - — � - - - — - - �
A1 Olhar Lonq.Tertn Debt _ r _ � �
ToW Exp�ndkutis � s2.s�2.a+� � s�.s�a.�3s � so � so �
Ex��ss (O�AcMncy) R�v�nu�s ov�r � cs�,a�a.�s4� � ss.sos.sso � so � so �
(under) Exp�ndituns
SO
SO
SO
f0
f2.352.163
SO
SO
i7.373.165
f0
f0
SO
f0
S9.E90.979
53.�28.3d6
(
Statement of Income and EzpendKuros - Expendkures Paps 12 12/142006
(
Stabm�nt oi Incorn� and Exp�ndituns - Otfier FinancMg Soure�s
Fiscal Year �2006
Project Aroa Name Consolidated Low and Modent� Income Housing Funds
CapitMProj�ct D�btS�rvic� LowfModent� Sp�cW
Funds Funds Ineortr Housinp R�r�nw�lOth�r Total
Prooe�eds of Lono-Tertn Debt - - - - - - - - I f0
Prooeeds of Re1�nd'ny Bonds
PayrtkrM to Re�unded Bond Escrow Aqerrt
Adw+nces from CityACounty
Sab of Fbced Asseta
Miscelsrbous Financinp Sources (Uses)
Operatinq Transfers In
Tax kiaement Tnnsiers In
Operatlnfl 7nnskra Out
Taz Inc�ert�ent Tnnsfers Out
(To the Low and Abderate Incane Housing Fund)
Tohl OG»r Financiny Sourc�s (Us�s) I
1.871.510
15,404.798
5,85a.938
i0 +
SO � 511.117,370 �
� �
� �
� SO
� SO
� �
j 51.871.510
� 515,404.798
� i5.858.938
� t0
SO � 511,417,370
StaMrt�ent o( Income and Experdihxes - Otl�er Finananp Sou�es Page 1 12/14R006
( .-
0
Stabm�nt of Incorr� and Exp�nditur�s - Other Financing Sourc�s
Fiscal Year 2006 _
Proj�ct Ar+�a Name Consolidated Low and Modente Income Housing Funds _
Gplfa) ProJ�ct D�bt S�nk� LowlMod�rab Sp�cial
Funds FunAs Incatr Housiny Rev�nuNOfMr Total
Exc�ss (DMeNncy) of R�wnu�s and � SO � SO � (f7.195.370) � SO , (57.195,370)
OtMr Finaneiny Sourc�s ov�r
Ezp�ndkuns and OtMr Finanelny Us�s
Equily, Beyfnninp of Period � SO �
Prior Period Adjustrnents _ _
Residual Equily Transiers
SO � 541,057.914 �
SO � i41.057.911
� SO
� �
D E R�insh
_1
I
oa,.nsw�xrl � B c
- - - - , - - - — - - -
T��� I I I I
oC►er Toral
Equky, End ot Perfod
fl
� � �
f0 � 533,862,544 �
SO � 533,862,544
�
StaEement of Incart�e and ExpendNures - OC�er Finarx�,irg Sour�es Pspe 2 12/14R006
(
Stabm�nt of Incom� and Exp�ndiWns - Oth�r Financing Sourc�s
Fiscal Year 2006 _ _
Project Aroa Nams �Palm Dos�rt Financing.Authortty _ _
capNal P►oJ.ct �.bt s.rvic. I.ow+Mod•rat� sp.cw
Funds Funtls Incarw Housinp R�wnuNOtMr Total
Proceeds of Lo�p-Term Debt _ , - - I �
Proceeds of Refundinp Bonds
P�yrrxrK to Rel�mded Bond Esaow Aqerrt - --
AAvanas hom CilyPCounty — -
Sab of Fixed Assets - - - - - - -
Misce�aneous Financinq Sources (Uses)
Operafirq Tnnsiera In _ 17.339,978
Taz Incroment Transiers In
Openrirq Trrnsfe�s Oul 971
Tax Inaert�ent Trinsiers Out
(To the Low and AbderaM Income Housiny Fund)
Total Otfkr Financlnp Sourc�s (Us�s) � SO � 517.339,007 �
SO �
�
�
�
�
�
,
�
�
�
f0
SO
SO
SO
SO
517.339.978
f0
f971
SO
f0 � 517,339.007
f
Statert�ent of Inoome and ExpendNixas - OOier Finandrq Sources Pape 3 12/14R008
1
t
. . r -�
�.
Stabrtwnt of Incorn� and Exp�ndituns - Ofh�r Financing Sourc�s
Fiscal Year ,2006_ _ _
Project Ana Nam� Palm Desert Financing Authority
CapNal ProJ�ct D�bt S�rvk� LowlMod�rat� Sp�eial
Funds Funds Incarw Housiny R�v�nue/Otl�er Total
Exc�ss (D�fkMncy) of R�v�nu�s and � SO � (5513.118) � i0 � SO � (S513,118)
Ofh�r Financinp Soure�s owr
Ezpendkuns and Otl�er Finanelnp Us�s
Equily. Bepinniny of Period � SO � f1.672,928 �
Prior Perbd Adjustrnents _ -
Residual Equily Transfers _ ;
OtMKsPkKY) A B
- - — _ — . _' —
Tan� I I
Olf�x Total
Equky, End ot P�Nod
I
SO � 51.159.d10 �
f0 �
C
I
s0 �
SO � S 1.672.928
� SO
� SO
D E RNnsh
1
I
SO � 51.159.810
Sta�ertient of Inoar�e and ExpendMixss - Olher Finandny Sour�es Pape 4 1 Z/142006
r
t
Stai�m�nt of Incom� and Exp�ndituns - Oth�r Financing Sourc�s
Fiscal Year 2006 _
Project Ar+�a Name Proj�ct Aroa No. 1 _ _ ___ _
CapIW Pro�ct D�bt 3�rvk� LowfMod�r�b Sp�cial
Funds Funds Incom� Housiny Rev�nuMOther Tohl
Praeeds of Lang-Term Debt _ _ _ � SO
Proceeds of Refundirg Bonds _ _ � SO
Payrt�ant fn Refu�ded Bond Escrow AQe�t � SO
Advances irom CilylCounty - -- - � SO
Sale of Faed Assels � iU
MPsce�eneous Financi�q Souraes (Uses) _ _ I tU
OperaHrp Transiers In 5,424.664 883 _ � 55,425.547
Tax Inaarnent Transiers In _ � SO
Operatinp Transkrs Out 4,688,511 13,911,039 � i18.599.550
Tax Inc�ment Transiers Out ___ _ 9,153,385 � f9,153.385
(To Ihe Low and bbde�a(e /naorns Housiny Fund)
ToW OfMr Financinp Soure�s (Us�s) � 5736.153 � (523.063,541) � f0 � SO � (522,327,388)
l :
Statement of Income and Expendilures - OC� Financnp Saxoes Pape 5 12/142006
� r r
..
. �
��
..� .: t...:'�; •:�j�� �
Sht�rtHnt of Incom� and Expendituns - Oth�r Financing Sourc�s
Fiscal Year �2006
Project Aroa Name Proj�ct Aroa No. 1_.
Gpkal Proj�ct a�c s.�k. �own�a.�a sp.�ai
Funds Funds Ineonr Houstnp Rewnu�l'Ot1»r Total
Exctss (D�fki�ney) oi R�v�nws and � (57,699.879) � 52.650,119 i SO � SO � (55,049.760)
Ofh�r Ffnanclrq Sourc�s ov�r
Ezp�ndkur�s artd Ofh�r FlnanclnQ Uses
Equily, Beyinninp oiPenod � 516.252.543 + f27.23a.s32 � f0 � SO � 543.491.375
Prior Period Adjusbnents - — - - - - - � SO
Residual Equily Transfers _ i ( i0
Ofl�r(Sp�cKy) A B C D E R�insh �
OC�er Total
Equky, End oi P�rfod
. - �
Total � � � � �
� �
� 58.552,664 � 529.8ad,931 �
i0 �
SO � 538,441,815
Statement o( Inoane and EzpendMuros - ORn� Finandng Saxces Pape 6 12/14R006
�
(
Stat�rr�nt of Incom� and Exp�ndttuns - Oth�r Financfng Sourc�s
Fiscal Year 2006
Project Aroa Nam� Project Arca No. 2 __
Capkal Proj�ct D�bt 3�rvk� LowlMod�ni� Sp�cIM
Funds Funds IneortN Housinp R�v�nuNOtlMr Total
Proaaeds o( Lang-Term Debt - - - -- - � SO
Proaeds of Reli�ndirg Bonds , � � sp
Payment to Rehx�ded Bond Escrow Agent - - - --� � SO
Advances 1Fom CilYlCounty " - - - - - � SO
Sale of Fbced Assets � SO
Misceianeous Financi�y Sources (Uses) -- - - - � SO
Opentinp Transfsrs In 7.628.359 _ _ 1 � 57,62d,360
T�x Inc�ert�ent TransMs In � sp
Operatinp Trantkrs Out 254,E56 5,914.866 _ � 56.169,724
Tax Inaement Transters Out � 3,043.663 • � 53,043.663
(To the Low and Abderate lncar►e Housiny Fund)
Tohl OfMr Financiny Soureas (Utas) � 57,373.501 � (58,95a.52E) � SO � i0 � (51,585,02�
SM�Oement of Incame and Expendihirss - Olfier Finendny Souross PaQe 7 12/142006
( :
� ( (
y� a•�' ., . ���•� .
�
_ :,,�,�"�';�r�;�'�`�+p��.,�`',+�:;;�.
Stabm�nt of Incom� and Exp�ndituns - Oth�r Financtng Sourc�s
Fiscal Year 2006
Proj�ct Aroa Name ;Proj�ct A��a No. 2 _
Capltal Proj�ct D!� SlIVICf LowlMod�ral� Sp�clal
Funds Funds Ineort�e Houslnq Rev�nuMOfMr Total
Exc�ss (DNki�ney) of R�wnues and � 53.987,547 � (f1,306.2bi) � SO ( SO � 52,681,266
OtlNr Financiny Sourc�s ov�r
Exp�ndkur�s and Otlrr Finanelnp Us�s
Equily. Bepinnirg o(Period � i6.813.042 � 59.510,905 � i0 � SO � 516.323,947
Prbr Period Adjustrnents � SO
Residual EquAy Translers � SO
OtMr(Sp�eiy) A B C D E Refr�sh �
1
Total � � �
�
1
�
Otl�er ToW
Equlty, End of PeNod
0
� s�o,soo.sas � sa,�a,ss4 �
so �
SO � 519,005.213
Shlernent of Inoane and Expendkuros - Olher Financinp Sources Pape 8 12/14R006
(
., . . .
StabrrNnt of Incom� and Exp�ndFtuns - Oth�r Financiny Sourc�s
Fiscai Year 2006 _
Project Ana Name Project Ar+ea No. 3
Gpital Pro��ct D�bt S�nk� LowlMod�nb Sp�etal
Funds Funds InearK Housinp Rev�nwlOflKr ToLI
Proceetls o( lono-Term Debt —- -- - - I SO
Proceeds ot Reiundinp Bonds _ _ __ � SO
Payrt�erN ro Re1lx�ded Bad Escrow Age�t � f0
Advar�ces from CitylCounly --- - � SO
Sale o( Fbced Assets � SO
MicCe�aneous Financinp Sourees (Uses) _ � SO
Operatirq Transiers In 7 � S7
Tax Inc.�ement Transiers In � SO
Operatkg Transkrs Out 30.359 294.188 - -- - � 5324,547
7ax Inctertient Transfers Out _ 6d8.513 � 5688,513
(To the Low end Abderate Mtbme Housing Fund)
Tohl Otlrr Finanelnp Soure�s (Us�s) � (530.352) � (5982.701) � SO � SO � (51.013,053)
r =
Stalement of Ir�ort�e and Expenditures - Olher Finar►cinp Souroes Page 9 12/142006
r
.. .. ,. ��
Stabm�nt of Incom� and Exp�nditur+�s - Oth�r Financing Sourc�s
Fiscal Y�ar 2�� _
Project Aroa Nam� �Project.Aroa No. 3 _ _
Gplfal Proj�ct D�bt S�Mc� LowllMod�nE� Sp�cial
Funds Funds Inconw Housiny R�v�nuNOtMr Total
Exc�ss (D�flcfency) d R�wnu�s and � f2.620.a78 � 5573,985 � f0 � SO � 53.194.863
Otlwr Financiny Sourc�s ov�r
Exp�ndituns and OfMr Fln�ncinp Us�s
EQuity, Bepinninp of Period � 53.260.432 � 51.999,E67 � SO � SO � 35.260,299
Prior Perbd Adjustrnents _ � _ � t0
Residu�l Equky Transkrs � t0
Otl�eMSPKIy)
A B C D E R�fnsh I
- - - -- - - i — - - - �
Total � � � � �
OC� Total � �
Equky, End of P�rbd � S5.�b1,310 � 52.573.E52 � f0 � SO � t8,455,162
St�r�ent of Incort�e and E.�erdhxes - OC� Finananp Sax�es Pape 10 12/142006
r
(
Stabrrnnt oi Incorr� and Exp�ndituns - Oth�r Financinp Sourc�s
Fiscal Year �2006 _
Project Aroa Name Proj�ct Ana No. 4 _ _ ___ _ _
Capftal Proj�ct D�bt 3�rvic� LowlMod�rab Sp�cMl
Funds Funds Incort�e Housiny Rewnw/Ofh�r Total
Prooeeds ot Lon�Tertn Debt - - I !0
Proceeds of ReAindinp Bonds _ � _ _ I SO
Payrt�ent to Reiunded Bond Escrow Ayent _ � SO
Aevances �rom ��y�ounty __ j So
sa�e ot Fixed Aasets - - — — - — - - I so
Miscelaneous Financiiq Sourees (Uses) -14,381 � (514,381)
Operatlrq Tnnsiers In 1.379.767 � 51,379.767
Tax Inc�ert�ent Transfers In � SO
Operadnp Transfers Out 116,920 2.574.519 , � 52,691,439
Tax Incrert�ent Transiets Out --- --- 2,519.237 ' � 52.519.237
(To the Low and bbdera/a Inaome Housirg Fund)
Total OIMr Flnancln� Soure�s (Us�s) � i1,248,466 � (55,093,756) � SO � SO � (53.845,290)
( :
Sfa�ertient of Inoort�e and Expendih�es - Otlier Finandnp Sour�es Pape 11 12/142006
I
. .^sa
Stai�m�nt of Incorrw and Exp�ndituns - Oth�r Financing Sourc�s
Fiscal Year 2006 _ . _
Project Aroa Name Project Area No. 4
CapMal Proj�ct aee s.ryk. �ownMoa.�u sp.cwi
Funds Funds IncortK Housiny RewnuMOflMr Total
Exc�ss (DNfcMncp) of R�venu�s and � (f629.6E8) � 5212.784 � f0 � SO � (5416,904)
OfMr Finanelny Sourc�s ov�r
E�pendkuns and Ofh�r Financiny lls�s
Eq�ily. Beyinninp of Period � S15.886.863 � 21,513,508 � f0 � SO � 517.400,371
Prior Period �ajustrr,ents - - � so
Residual Equity Transiers _' , � f0
Otl�eMSp�elry) A , B C D E R�fnsh
Total ( �
� ,[-"�_�"'_'1
Equllp, End of P�rlod
�
�
� 515.257.175 � 51.726.292 �
SO �
— --�
�
SO � i16,983,467
�
StaEErnerK oi IncorTie and Expendihxes - Olher Financirg Souroes Pspe 12 1 Z/142006
� .
�
City Of Palm Dese�t Redevelopment A�ency
Redevelopment Asencfes Financial Transactions Report
D�talhd Sumrtwry d Footnohs Far Flscal Y�ar 2005-06
�
Forms Column Additional Details Footnotes
Proj�ct Ar�as Report
R�y►„�n a i�,a��a�
Eflectiveness d Plan
�
New Indebtedr�ss
New Indebtedne65
New Indebtedne6s
NewI . . . .. . ..N
Expendituros
other expenditures �ncludirg Fass
Thra�h Payrr�erx(s)
Other Fxpendkures InGudinp Pass
Thragh Payment(s)
Olher Expenditures Including Pass
Thagh Payment(s)
A
r_�
PROJECT_AREA_NAME=
'Profec.9 Area No. 1'
PROJECT AREA NAME _
'ProjeG Area No. 1'
A PROJECT_AREA_NAME _
'ProjsCt Mea No. 4'
A PROJECT AREA_NAME _
'PrajeCt Aroe No. 3'
A PROJECT AREA NAME _
'Project Area No. 7
A PROJECT AREA NAME _
'Project /4sa No. 1
B PROJECT_AREA_NAME _
'R'oject Mea No. 1'
B PROJECT_ARE/►_NAME _
'ProjeCt Area No. 4'
B PROJECT AREA NAME _
'Roject /lrea No. 3'
P�ojeCt Area No 1 was
amsnded on No�rernber 25,
1981 and added 5,240 acros.
This amendment has
separate plan eAectiver�ess
arW repaymart d
indebledness imitatioru h+an
tlie original poject areas.
These limRations are 1he later
a me o«►ibined project gsas
and are reAected on Cxs
�ePort•
Prajed Ar�ea No. 1 was
amended on Novert�be► 25,
1981 and added 5.240 acros.
This amendment has
separate plan effectiveness
a�,d reaay�„ern a
indabtedness Imitations tram
Cie oripinal project araas
These limitations are Ihe latar
a the o«nbinea p►a�ect areos
and are rellec.�ted on ttrs
repoA.
Aooanplished by SB 211
arnendment on 02126/0�.
AccanpNshsd by SB 211
arriendment on 02/26/W.
Accanplishsd by SB 211
� ,. � , t on 0?126104.
Accar�plisl�sd by SB 211
�idment on 02/28l04.
Payments io C�e Educa6onal
Reverxie A� ,„ . �� � �
Fund - 52,411,1e8
Payrtients So the Educational
ReYerxie Atgrrienlation
Fund - 5560,856
Payments b �e Educatlaiel
Reverx�e Augmantation
Fund - i151,724
Footrioles P'dpe 1 12/1412006
�
�
, City Of Palm Dese�t Redevelopment Apency
Red�velopment Agencks Financfat Transactions Report �
D�taiMd Summary d Fooh�ot�s For Flspl Ypr 2005-06
Forms Column Additlonal D�tatls
Otl� Expendituros Includrg Pass B PROJECT_AREA_NAME _
Through Paymerrt(s) 'Project Area No. 7
Foobiobs
Page 2
Footnot�s
Payn'�ents to the Educatia�al
Reverx�e Aupmenfalbn
Fund - i871,272
12/1M2006
�
, �
DuNnp pnHous 1Mea1 �rs, tM Stab D�p�rfnNnt o( Housiny and CanMnunitp D�wlopnMnt ay�M nMd� subsfantld eh�n� to Its nportlnp fanw. T?� InfortnMlo�
wfikh to�ows h�t b�n abstraetid Trwn fM Stab CaKraMrs R�port In an MoR W asist you In flw pwp�ratloe d tb� varlous finanebl scMduMs M tM HCD
npat It Is not a� Induslw w HCD w�s dMhnnt �:p�ndkun dMsMiealfo� �nd �q�l�s addltlond eomputNlons. PNu� nvMw k u�fuM�► �nd rn�k� arry
eh�npes you d�n ere�ssary.
Palm D�s�rt R�devdopmnt A��ney
HCD-A Reporting Fortn - One fo�rn required tor each project ana
CompuEed peroent�pe depo�IEed in Ih
Low and Moderate Houskq Furw
(M M�s than 207L you n�ust Indleab aclual % on fonn
LFn� ].
a. Tax k�emen+
(1) 100% of Gross
(2) MtnM�xxn Deposit to Hausirtq Furtd (Ifne t x 20%)
(3) Tax Incr�ment NocaEed to Haninp Fund (Adua�
tass:
(4) Amamt Exampted - Compisls HCD-A Ques�on *4
(5) Amax�t Deisrtsd - Cortiplete FlCD-A �ueatlon �5
(6) Tax Incroment Depaited to HauWny Fund
(If curnnt dMMnl i� �nt k w� b� MK
ot Iners�Mnt- sublraet k and �nhr on fh�
'D�hmd Rp�ynMnts Lin�" bdow.)
b. IMerest Incane
c. RentaULeo+e Inooma
d. Saie d Real Estale
e. Grants
f, Bond Adrt�inistrativs Fses
p. Detartal Rep�ytr»nts
h. Lo�n Rep�yrnents
I. Debt Prooseds
j. o�ner Revenua (Speciy)
Gain on Land HNd !br Resale
Other t�xss (TOT, SaJes tsx, Elo.)
SaN o/1ixM asssts
Oth�r rewnue - d�bN on NCD i�pat lbnns
Tnnslbrs !n - d�bfl an HCD nport lbnns bsralYr purpos�
k. Tatal L 8 M Deposits
�roj�et Ana PraHet Ar�a Proj�et An� �roJ�et An�
1 2 3 4
xox Zox zox so•i.
f 45,766,926 S 15,218,315 S 3,442,586 t12,S96,1a3
: D,133,3a5 i 3,W3,863 i 6Dd,513 i 2,51D.237
t 9.153.3a5 S 3,043.883 t 888,513 f 2,519,237
( 0 )( 0 )( 0 )( 0 )
( 0 )( 0 )( 0 )( 0 )
S 9,153,3a3 S 3,043,663 S 688,513 t 2,519,237
0 0
0 0
0 0
0 0
0 0
0 0
0
0
0
0
0
= 9,153,385
0
0
0
0
0
t 3,043,683
0 0
0 0
0 0
0 0
0 0
0 0
0
0
0
0
0
t 688,513
0
0
0
0
0
t 2,519,237
( _
�
DuAnp p�vlous 1MeN y��rs, th� Sf�b Dep�rtnMnt of Fiousinp and Co�mwnitq Q ., t aydn rn�d� sub�tandal ch�n9�s to ks nport)n9 tonns. TM Inform�Hon
whkh fobws has bMn sbsfr�ebd froen tfi� Stab Co�froMrs R�poK In an Mort to asslat you In th� pnp�ratlon of th� wAous fin�neld seh�dubs ot th� HCD
nport k is not a� ineludw as HCD t�ws dNf�nnt txp�ndltun classlfkatlon and nqulrM addltlonal eanputadaa. PMss� nvNw k canfuRp and nNk� a�►
ehan�s you dMn� n�e�ssary.
Palm D�s«t R�d�vMopm�nt A�ncy
HCD-A R�portln� Form (Contlnu�d)
coma,cea .,.. �,, , deposnsd t� n,
Low and Moder�t� Housinp Furo
� M.. u.� :ox rw, mu.e Meie.e..oew� x o� �o�,
u�. s.
a. Tax Incrertisnt
(1) 100% oi Gross
(2) Minimum Deposit b Housinp Fund (Iine 1 x 20'Y.)
(3) Tax Ineraer�ent ANocated fo Houthq Fund (Aduan
l.�ss:
(4) Nnount Exempted - Camplete HCD-A Questlon �4
(S) Amount Deiert�ed - CampieEe FICD-A Questfon f5
(E) Tax Incroment Depo�it�d b Housinp Fund
(M curr�nt dM�al I� pr�Nnt It w� b� p�rt
of incr�nt- s�bfnd k�nd �nbr on 1!M
'DM�rnd R , , , Lin�" bdow.)
b. Irrterest Income
c, RentaULeue Incame
d. Sals d Real Estaie
e. Gants
f. Baid Administrativs Fees
p. Detertal Rep�yrt�nb
h. Lwn Rep�yttisnts
I. D�bt Prooseds
j. oe�er Reverxis (sPedh)
Galn an Land HeAi fbr ResaN
Otber taxes (TO7, Sabs tax, Etc.)
Sals ol f6c�d asssta
OM►er re+ronue - d�bM on HCD nport fforn�s
Tr�nslbrs in - d�tall on HCD npat Ibrn�s translrr pu�poi�
Total
i 77.023`990
S 15,404,708
: 15,404,798
(t 0 )
(i 0 )
S 15,404,79E
S
S
S
t
i
i
f
f
0
0
0
0
0
0
0
k ToW L 8 M Dsposib S 15,404,798
� � (
HCD-C Reportin$ Fortn - One fonn required for A�ency
Bepinniny Balanoe per ControMrt Repo�
Adju:ensnb: daMnc�s as a.nd a �rtor Y�.i
Reserve for Land Held for ResaF 574,933
Reserve for Lwns (RehaDlihfbn 8 ERAF 7,841,5�6
Deterted �t-nidc 0
Residual rsodpt loana 0
Ott� unavaiabls amount 2.788
Calcuhted Beylnninp Balena
Bepinninp Batarw� (From bist HCd-C
LIM 1.
a. Tdal AvaYable Balance horrtln� 6 HCD-C of prbr y�ar
Adjushnent to openiny babna
Computad openiny balance adj. to apree with ControMers R{ S
Ctxrent year fund balance openfnQ ad}usiments (roasons beb+
Reason•
Other ad�ustments
b. Total adjustment:
c. Adjusted Beginninp Balance
LIM Z
a. Total Resourc,es From Project Areas
From - HCD-A Fortns (See Total Above
b. Olher Revenue (aM should De detailed on Sch. C
/1N Froj.e�
Anas
s 4�.05�,914 Imaortant Note:
This area is utilized by us to recompute the
opening balance. When you complete the
HCD Forms do not include this part. Start
with Une 1 a. and make sure that agrees
s a2,esa,s27 with Une 5 from last year.
S 32,63d.627 Enter Artwunt irom Prior Yea
0
0
0
S 0
f 32,638.627
i 15,404,798
0
Other Revenue
0
Con+birwd Low and Mod�nb Housinp Fund R�v�nu� (D�tap In Otl�r R�v�nw Ana
Interest Inc�.ome 940,766 �
RentaYLease Incans 4.627,082
Sab ot Real Estate 1,037,729
Gronts 0
Bond Administrative Fses 0
Deferral Repayments �
Loan Rep�yments (Charge in Rehab. Loans ReceNabk) 104,339
Debt Proceeds 0
Gain on Land Hsld 1f�r Resale 0
Other taxes (TOT, Ssles tax, Etc ) 0
Sale of Bxed assets p
Ofher �e►�nue - d�bN ov� HCD npoR Jb�n�s 263,102
Transfbrs �n - detall on HCD nport Iomrs �nshr puipw� 1,871,510
HCD Wanb Combin�d Low and IMod�nt� Housing Fund Rev�nu�
Shown as Oth�r R�v�nu� and not on a Sch�dule A. Th�r+�fon, Detail it in this ana.
ToUI L d M Deposils S 8,b44,528
c. Total OM�er Revenuc i 8,844.528
�� �Total ResourcE! S 56.Ea7.953
�
T'IM Sbh ConlrolNr Exp�nddnY Cahpo►f�s an +lawn Jn IWIe. OdNr trp�s oi
.��s �.r a r�lud�d w/Meh a►� mw� p�opalr sfrown ►n o� eabyal�a
71��1br�, rnu nwrt r�vhw /Ms� to �esun tl�y an propNy c1�sNMa
Anwunts Mrlyd as 'UF�awn' eannot 6� det�►mM�d !►om 1M Stsl� ConboM«':
arport rou rnwr sr..t sw...iwounb ouc a n�. b+Ibnnatlon u.t�d
Un� 4.
a. AcquMlllo� of PropKt�rBu�dN�� Slb�
(1) Rsal Estate Pu�d�ases i 0
(2) Housh�p AsteRt 16.892,167
(3) AcquisNion E�enses 0
(4ppsralfon of Acquirsd Property 8,E97,E77
(S) Relocation Cosfs 0
(6) Rdoctfion pa�m�ants 0
(� SMe Gs�nnce Costs 0
(a> oi�posal coses o
(9) Olher (need to speciy on roporf
Loss on Dispaition of l.and Held 0
Dedne in Vaius d Land H�id 0
Other 0 0
Prop�Ry Aequlsidoe Sublofal: S 23,790,044
k Subsldbs irom f!N Low and ModK�b Inean� Housinp Fund (I.MHF)
Subsldy to Low b�bderaM housirK
Chanye in Rehab. Loan Rsas�v�e - New Lwn:
(dnakdown fl�� anwunls InEo ubparMs bMow
(1) 1 st Tirt�e Hwneb�ryer pown /1saFatana i
(2) RenW Subsidkt
(3) PurGhass oi Atfordab�ty Cov.(33413(D)2(B))
(4) Olher (need to apecJly on repoR;
3ubafdia 3uhtotal to L�11F: i
�. a�e s.�.
(1) Debt Prk�dpal Payments
(a) Tax Nocaffon, Bonds i Noba
(b) Reverxie Bonds 8 COP
(c) CitpPCounty Adv. b Laana
(� U.S. Stats 8 OIF�er LTD
(2) Interest 6q�ns�
(3) Dsbt Issuanos Casts
(4) Olher (►bed to �pe�ciy on roport,
D�bt S�Me� iubEohl:
d Pi�ndn� and Administratlon Costs:
(1) �dminisaation co�s
(2) Protesdorwl Servbes
(3) Pl�nnin�, SurveylDesfpn
(4) Indksd Na�po�t Costs(33334.3(s1(1)(9J1
(5) Olf�er (nsed to specNj� on roport,
M�nnlno and Adminktrafbn Casb Sub�ohl
b oh
.. o�s�e. r , . . �usu.s�.�c�►;
Propd improvement aosts
f. Housin� Conatiuctlon (�333�.2(�Kill
�. Houslnp R�habNhtlon (i3734.2(�►(71.
Mhab!lihfion cost:
RehabARation y�anf:
h. Winf, MobMharr �a�ln (J1J34.2(�1(101)
L Pns�rv. ot A�Rlak Unlb (3J334.2(�I(11))
J. Tnn�i�rs Out of Ay�ney
PerCa�ho�ers RepoR•
drwkdown Into Cat�paNs b�low or otfNr Ilms on npor
(t ) For Use Outside Community (33334.17 t
(2) Far Tnnsk V�aye Devebprt�t Plar(33334 19)
(3) Exasss Surplua (33334.12(e)(1)(A))
(4) Olher (ate code section
k Olf� (�peciy on HCD farm;
Otherexpendkures
L Total E�ndltuns and Ofh�r Us�s
un. a Nac Resa,rces /1val�nk
Un� t Enarnbnnces and Unencumbered /4noun�
a. Encumbrancet
b. Unencunbered Balana
Lln� 7. DesfpnatedlUnde�ipnated l4nount of AvaNable FunC
a. Desfpnatec
b. Undesipnttec
LIrM i. Olher Hotnlny Fund Assetspnput arnounls in columns io ilphtj
" a. Vaku oi land purdused and heF
" b. k�debt fa sefaaides deferte�
" c, Lwns r�ceivable for housinp rehabiitatio
" d. Re�idual roceipt bam
" e. ERAF Loans Recehrable (a1 yean
" i. Olher Assets - R�sKw fw Pnpdd Exp.
p. Subtatal Other Asset[
Lin� !, Total Fund Equily (Line 5. plus Line 8.p
Unknown
Unknown
i 5,858,938
0
S 30,791,665
t 28,096,28a
9,390.490
16,705,79E
0
16.705.79a
25,000
0
7,737,247
0
0
4�009
7.766.258
f 33,E62,544
Lin� !. Tot�l Equkl�s - Urn 3fe of ControN�rs R�por f 33,a62,544
S 0 Dlfiersnce (Mu�t b� 7aro) t 0
0
0 "(Mot�: Chan�s in tf�� arnamb iran I�st y�ar must b� Inelud�d In
0 r�v.hxp. anwunb �o hav� HCD�C Iint f apn� wllh Iin� 3! ealumn (
S 0 of 1M Ca+troMe's Rpat ConsaNdabd Balanu SM�t
s �aa,��
353,�37
0
0
0
: 1.142,683
0
Unknown
0
P�l�l DESERt REDEVElOP�EN1 aGENCY
�
September 19. 2006
;3-5t0 f'Kif� Vi�'�ItIKi, �)Ri�'I'
�AI\t �)�'�FRi. C��IIFl1RKIA q22hA-257d
re�c 76o i46—o6��
F,��: -b�� 4e�-637z
�tltoi�'(7��m �r�Crt nt�;
VIA FEDERAL EXPRESS MAIL
County Auditor-Controller
Property Tax Division, Redevelopment
Attention: Rebecca Carr, Senio� AccouRtant
4080 Lemon Street, 11th Floor
Riverside. CA 92502
Dear Rebecca:
Enclosed is the Statement of Indebtedness forthe Paim Desert RedevelopmentAgency for
Fiscal Year 2006-07. This document is being sent to your office pursuant to Health and
Safety Code Section 33675, which requires that it be filed with you on October 1 of each
year.
Our annuat ftiria�cial states�ents ase not yet avatitiabtie, but wititi be senl to your off'ice once
�.- they are finalized. Please contact me at (760) 776-6344, should you have any questions.
Thank you for your attention to this matter.
Sincerely,
Veronica apia,
Redevelopment Accountant
En��asur� tas notecS)
cc: Carlos L. Ortega, Executive D�rector
Justin McCarthy, ACMIRedevelopment
Pau! S. Gibson, Director of Finance/Treasurer
David Yrigoyen, Director of Redevelopment
Lauri Aylaian. Redevelopment Manager
Janet M Moore. Housing Administrator
Arla Scori, Senior Financial Ana{yst
.. ,wGl. VE R' 1N�1 h 1:c'�A•vIl Jl<:J f�t t'„1Ji .t ll W t r 1( TTf.M � v".Y.� t��.
�
C� w.: wr�c�.nw
�
f
STA1'EMENT OF' INDFBTFDNESS - CONSOLIDATFD
FILED FOit THF 2f106-2007 TAX YEAR
r�mc of Itedevclopmcrtt AR�acy Palm Uescrt Redevelopment Agency
Namc ot Project Arca F'roject Are�t �t 1
Bs►I�aces Carried Forw�ard From:
Fiscaf Period - TotAts
�lfiunndl)
Aost F iscAl Perial - Totals
�s f 1 O (�
Total�
lvaii�hle {irveaaes
From Calculation of.4vailable Rcvenue�. Ltnc 7
V et
ttequirement
(From Fortn A, Page 1 Tata{s)
(F'rom Form R T'otals)
[.iee
(1) S
(2) S
(3) S
(�) S
(S► S
(
Cuver Pa�e
(.:urrntt
Total PriocipaVfnterest
Outstandie� Deht Due Duriax Tax Year
i.zet�,005,008 s ?Q,i.;i.zi�
- S -
l,'6u,005,003 S 3'�,1;1,217
24,tIR.058
�,2 a5,48r,.�5o
Consotidate on this form ali �f ti�e data co�tai�ed on Fona A and B(includln� supple�neatal pa�es). Fortn A is to incf�de all indehtednr.
enterai into as uf Ju�e 3Q of 11�e F'iscsl Year. Form B msy be filed st the option of t6e s�eecy. and is to include indebtedness enterc
ieto p�t .lune 30 of the Fisc�l Yesr, p�rs�aN to HeahM and Satety Code Sectio� 33675(cx2). Ttiis is optionst fer each aRency and is nat s
reyuiremeat fur Rlin� ti�e Statement of indcbtedness. The Recaaciliation Ststement i� lo include indebtednes.c iFom Form A onl
l criiticanon ofrhief Financ�ai OfFicer: Paul S, Gibson Pinsnee D'srector
Purcunnt lo Section ?3G7�5 (bi uf the Healih and Safetv Cucie. �tamc r�ii�
I herrh� �•rrt�h that thc abuve i� a true and ucurau 5tatement
uf (ndrhtedness f'or the sMac named a�trnr� 9.j�(;�
,�� a iatc
k�•. a t •N
(
STATF.�iF.NT OF iNDF.BTEDNESS
FILF.D FOR T�iF. 2006-20Q7 TAX YFAk
tiame �+[ Redevclopme�t ,��cncf Palm Descrt Redevelopsnent A�ency
tiaroe of Project Are,a Project Arta M 1
For Indebteclnes� t:etered into a� of Jane 30, 2006
D�t IdMtNintloe
2(1(14 1 az AI►ocati�x� F3on�1
"�.�� issue - S3I,94�.00U
i997 Tax Allucatiun Refunding
(81 Hond Itsuc - S � I.y55 000
, 'pQ? Tax Allocation f�efundink
�Ic ) [���nd tssue - S 22.07U U0l)
' _'OQ1 Ta.� Alicx:ation �ond
I�Ut (tsuC - 119.(IW,I)(Itl
��}.) raunh Pas>-thruu�h (cstm+atedl
i
�F► hSl'Sn Pa�s-thrvugh (esumated)
�
(t.� (x'C'D Pass-chrou�h �eslFmrtcd)
,Uil (��'w'n Pusrthrou�Ji (rst��natedl
( t � l'�'MA[1 Psss-throu$A (esumatrd�
SJ) t'�'i2PU F'ass-th�cw�h (r�Umued)
bub 1 �t�l.
_T�h�s f�'agc
oT-iaT�Fon�uci
Fmm AU nthcr f'a$es
• l, rand
- Tnt�l�
• A��ilable ltrveeues
iFrom Calculatioa of Ava�lahlc Rr��cnucs
� IVet
Reyuirement
Purpo�e of Indebtedneu:
(�) 2ti(�1 S?.s y{Stii I,tR Issuc
(R) I��v" S'I 955�1 Relwitmg I.\H fc:uc
tl l?0��� S.? t17N Rclun.lms Itwc
!1)► 2uq� Sl�i 011M1t f �R Is�uc
(F:1 Ri<<�iitc C'ount� pac;-�hrnugh �ccumitcJi
Datt
lM "?I,(la
U7�24r97
Q3/13:U2
(! 7' 1 S: (13
uma•�s
O7� I Rr'7,S
n�na��s
nr i ���s
Ol' l ar15
07%I 6f1S
�►lncipal
24,44 5.000
71,935.000
?2.Q70,000
i v.onn,�►a►
V:A
\:A
�n
V �.4
'J: A
VfA
OMpin�l D�n
T�rtn
m ��•
26�r•
ulyo
,c
Ytarc
Clpcn
t fien
� fien
l Jp. n
<R�cn
�^
TOh!
Intenat
ia.ia�.xi��
t���(>q,7S5
z7.Z�x.xxz
23.S1S.278
`.n
\.A
!�i,�
'��A
N'A
N:A
f _
Form A
r.R� � of 2 Pa;�
Cutnnt
Tofal PAfItlpNllnt�nsl
Oufstsndlny D�61 Du� Du►inp Tax Ytsr
35.hy7, I SR 2,� � 7,4 I 3
90.G45.501 i,17�.724
�1�4,774,4� 1.114,665
zy,Uy2,�UQ 950,000
sn�,5o7.�a�, �.�,n�z,�s;
IU0.412.93� 2,59$.0�4
?I,R699.t6 56�,8�6
I S.3 I q,')67 3y6, I 5 I
h,927,hh 1 174,812
8,713.580 : 19,878
�e�,xsz.�i� s ?� ;nS,noh
z94,IS2.S4! S 11.826.?11
1.2GII,Ol15.Ol1iS S ?'1.131,217
(2a,�18.U5R1
t,235,1R(�.YSU
S
i
S
S
S
(Fl Ikccrt Cands l�n�ficd Schunl f)iat�ct pa�s-thruuRh fc.�unutN).
(f:l 1)a,rrt l:c.mmun�ty ('ullege lh�tnct pu,-ehrc�ugh fcsUmntCd)
(1I1 C��chcll� Valiey w'atcr nutnct pa��s-thmuy,h Ic<t�aiatcd}
(1) ( o�chcila 4'alle} blos�uito Abalemenl Uistnct pa.t-tl�rnugh {���im�ted)
(.i� ( vachrU� Vallcy Recreation and Puk I)�smc� p�s�-thmu�th Ietiumared)
Nttlftit
Rat�
3.00`i� to
S.W.�
d.{0'�:to
S.h25!:
5.00'i. to
�..i0!:
S.OIM.i
ti -n
y'n
V��
wn
V1A
NfA
(
STATEMENT ()F INDEBTM:DNF'SS
FILED FOI2 THF: 200�2007 TAX YEAR
?�ame ot Rede��elopment .1Rcncv Pslm Uesert Rcd�vclnpment Agency
N�me ot Prnjert ,1rea Pro,ject Area M 1
For ladebtedaess f.ntcred i�to ss o[.I4oe 30. 2006
Orfyinal Oata
Inbhst
DM�t IdMtMkaLon Wb PAncipal T�nn Ral�
: Rrvcrs�dc County Schc�ol�
(A? Pass-thrt�u�h �ectimeted► 07'lb�75 N�A <�4+cn v�A
t.uw and Mcxfentc incomc
(B> Fiousing Sct-Aside U7lt(�n5 N%A c��en V�A
- ( �ih
((�) C'tt} of I'al�n [)Csert l �an 0(,•30,'YS :.Ed7.917 ��,ce F,ammg
(D► �B 25�7 Fetn Dh16�75 h'A c�+en N/A
. Crtti
�(F:1 ('it}• of Palm nescrt Loan I?�119•99 d,16�.94Q cipcn Larning
: Ri�cnide ('�wnty {Ieaith and
-(F� lu�enele Fund uL13:92 N�A c�+cn V-A
Sfi ZI 1 Pass-throu�h
G} t)hli ��uuns 4��27roz N=A c�p�„ V,A
(H)
O)
(�1
lM)
�J
Total
(
Form :�
rac� 2 �r z r.,�..
. . , _ . Cunseet . _ .
To1a1 ToLI PAtICIp�IAIIt�Mf1
Inbnat Oulstsndfny 0�4t Du� Dutfny Tax YMr
�;A 1 i.R98.Z?(1 il)7,K54
ti'A 319,I�G,434 9.d96,723
i8fr.11 S 5.847 917 i811,1 15
��A 2U.4R7.9()2 G11,20G
27U.��St� �.16a,9�10 �70.h56
\ 'A 9,900,441 289,4UG
ti-A 22.F47,i9Q 37Q.2S i
Thiw`s�P�! S 394.152,5g3 S i 1,826„211
Purpose e( lodebtedneas:
llhlip,auon under tiH 21 I tix mu�Jaton p,iss-Ihmugh
f.11 R�.e..�etc l:�Kwt� �cl�cx,ls p:�a-t}irnu�h lestimntal) (G) amounb to �anous taxmg cntil�e.c
(HI 1 uw aud �i�Kleratc Hausmg Cet-,lcidr per Sect�na i�ii, ? uf Nealth h Safety ('�x1c (H)
It 1( ity ol Palm (hvcrt 1 uan (fl
(I)t SR 2��7 (,n _
tt ) t rty ut I'a1m Oeacrt I.�ron (Kl
IF f krvcr.�Jc l.uunty flculth �nJ lu�anlr Fund (t.)
�
45.889. I S 5
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS
40,942,500
N:me oi Agency Palm Desert ttcdevelopment A�tocy
Nsme ot Project Ana Pruject ,��ea M t
Ttx Year 2006-2Q07 Reconcilfatlon Dates: From July 1, 2005 To June 30, Z006
: . . A .,_., 8..,_ } . C -•D- •I-- � E--._ _,.__... F---•
I
: Debt Id�tMe�tlon: Oubtandiny D�bt AdJusbrreKs Amounb P�fd Ayahnt R�mr(ninq
f01. p�� �Rd �M: S►I�t Ali B�yinninq Inchp�s O�cna�s Ind�M�dn�ss. han: Dd�eu
; �rto� Yr Curr�nt Yr D�serfptlon Ind�badmss (At1aeA Exp1�n�Mo�► (Atfaeh E:pMnMbnj T�:lacnm�nt OfMr funAs (A'B-GDE)
��ti � Py t 2004 Tax rtillncxtiun HonJ
!�in. A �� A Issur - S�4.Q45,000 37.675,250 I 97R,06? �5.6�7.188
'►p � �q 1 IyQ7 Taz .411iicatinn Rcfund�ng
�Lkn� B Lk�e B l�ond Issuc - S 71.955,UOU Q�,876,400 5,230,899 9p,645,50)
�Py � aq t 2002 Tar /1ltocat�an Refunding
�l1ne C LIeM C Hund I�,suc - S Z2,1?70,OOQ
�Py � Pq t 2Q0'�InxAila:ationBond
'Lu+e D LJn� D Issue - SI�,OOQ,(?OO
�Pq t Py t
Iltne E LNK E County P�ss-throu�h (atimatcd)
I►q 1 P� �
�Une f �Ina F nS(1Sn Pa,s.a-tfirou�h (cst►maud)
�►9 t pg t
�lta� G LIe» G 1�('CD Puc-throu�h (estimaled)
.�p 1 Pq 1
.11ne H Lhw H ('VwT? Pass-thcough lat�m�teii)
�
TOTAL - THtS �AGE
�TOTALS FORINARD
�
CRANO TOTAIS
f NOTE
i7?.89b.335
6$,251, 302
14,� 7.711�t
10.367,789
6E7,80G,33S
� 17.8$5.939
1
t. i i s.c��s
4511,OfK1
I 4U,91 1, i4 5
?4,SSE,8n7
7.dE4,Z38
5,308.6�3
I ?.300.(li3
Z.397,1 ;5
522,Qy6
3(�S,S 15
I 58,26;,243
106,;35,R14
?S,R58,406
54,i85 14,173.i ii
(
Pege 1 of 2 Psges
�3,��a.a4u
39,99?.5(IU
501,�07,b46
I UO.a t Z.y 3 i
21,8G9,946
I 5,; I O.�G7
SSO.:ll.172
4f1Q,791,$ ii
S 1,005.692,274 S 294,599.057 S 54,585 S dp,2�1,7i9 S - S 1,2�i4,�)05.007
Cdumn A must pusl fM prwioua y�ar Stat�ee�nt of Indebadrnss Outsfandiny O�bt Cdumn F must puat this y�ars SOI Outstandinq Debt
eohKnn. Us� eM pp� �nd Nn� numb�� that Ihe Ind�bbdeNss 1� Mi�d on M�seh y��r n approplab, and a MMf dperlptlon. (qnon any Ind�6t�dewss
fulfy rop�td in the pnvioua yesr, n h lud a z�ro �ndinp b�lanc�. AM nwv ind�bt�dn�ss Mhnd fnto sinc� tl►s provious SOI Is to be Ibted
bdow tM previous ind�bUdn�ss. Enter "new/' in th� "P�ior Yr' pag� and line cdumn tor �sch new ind�btedneas.
s
Rev 5/2�94
(
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS
J
Pa�e 2 of 2 Pages
Name of Agency Patm Drstrt Redevel�pment A�cncy
Name ot Project Aroa Projcct Are� A� 1
Tax Y�ar 2006-2007 R�conciliaUon D�tes: From Jufy 1, 2005 To June 30, 2006
. _ . . . . . .. . .. _. , . ---
A B � C D I . —. E ..— _.___. _ _� . . ,�_
_ Mbt Id�ntMkatlo�: Oubtsrtdkq O�bt AdJu�triwnts Amounb hld Ay�inst Remaininp
Sd, � ae�d (fnr Srid AN 6Nin�fnp tncnas�s D�crMs�s Ind�btedn�ss, from: BaMne�
Prfo► Y� Cumnt Yr Owcrlplla+ IndMMdn�as (Attsth E�n�tlon) (AtLch Exp{�rtadon) T�t Incnm�nt Otf�a Funds (A+B.GD.EI
Pp t Pq t
Llrn i t..1n� i C"V!viAD Pas,o-�hrae�h Iesumatcd) 4,59p,U49 ?,497,62R 160,016 G,4Z7,661
�y t Pq i
l�n. J un� J C'�'itPU H�ss-through icstimated) 5.703,785 3,21 IAh� 201,?6R R,711,SR0
P, ? rs 2 Rivcrs�Je (:o�inty Scha�L�
Lin� A Un� A Pass-through �espmated) 8,110,553 4,071,8h-1 284,(?47 ! 1,89R,?70
P* 2 P4 2 I.ow and '�I�xlerate tncomc
uw. B uee 8 Hous,n� tie�-Aside Zd8,896.970 79,412,R49 9.I �3,?85 319, I56.•13a
Pp 2 Pp 2
lteK C l� C ('it)' �t ('alm nt�ert I.oan S,R47,917 45�,04� 45�).U42 5,847,917
�0 2 P9 2
L;n� D Lin� 0 ti8 :5?7 Fets IS.SGS.266 5.3UU.?92 i77.65G ?0,487.qU2
Pp 2 rp 2
lin� E une E Cit�� o(Palm Ue�crt f.oan 4,16:,4iQ �?6,8i5 ??6,RS5 4,163 940
��q 2 P9 2 Rrven�dc ('uuntt• Itutith and
'Un� F �M» F Juvenile Fund 10,438,566 54,585 483,SAd 4,90U,341
•Pq 2 Py 2 SB 2t I P�.4�through
ltrK G 1.►M G Obltgations 14,568,893 8,G28,37: 499,675 �2,G41,5'1(1
:tp New P� Prt�ject custc and aAminiSV�tivc
�UeN [.in� expensev pud - 16,6G� t6,66� -
►, New ►q Paymcnt a� F.ducAtionsi Revenue
;L�n� 1.1++� AuAme�ilatwn Fund - 2,41 I,186 �,41 I, I Eh .
►a Pa
-ttn. un.
,T01AL - THI� �AGE
� NOTE:
�
�. , .
317,885,439 IQ6,3i5,814 54,585 1a,373,;33 - 409,79?,g35
Cdunin A mu�! �qual tM ptivious Y�ar Stat�n+�nt of Ind�D�bdn�ss Outstandinq D�tk. Cdumn F must �qual this yeats 501 Oubtsrtdiny D�bt Cdumn.
CALCULATION OF AVAILABLE REVENUES
�.
AGENCY NAME Palm Desert Redevelopment Agency
PROJEC� AREA Project Area # 1
TAX YEAR 20�6-2007
RECONCILIATtOlv DATES JULY 1. 2005 TO JUNE 30. 2006
t Beginnmg Balance. Ava�labie Revenues
(See Instruct�ons)
2 Tax l�aement Rece�ved - G�oss
Ar Tax Incremeni Revenues. to includmg any Tax Increment
passea through to other locaf tax�ng agenc�es
3 AIE othei Ava�lable Revenues Rece�ved
(See Instructions)
4. Revenues from any other source. included
�n Column E of the Reconaliat�on
Statement. but not included �n (1 - 31 above
5 Sum of Lrnes 1 through 4
6 Total amounts pa�d aga�nst �ndebtednes�
`, �n prev�ous year. (D + E on Reconciliat�on Statement?
7 Ava�lable Revenues. End of Year (5 • 6)
FORWARD THIS AMOUNT TO STATEMENT OF INDEBTEDNESS
NOTES
� 17.�_'G.�177
� �t•.lya.;K�
� i.�'x,:i�
5 •
C hJ -1q.-��,
� �0.�31.%3Q
S 2a.�Itt.U;B
Tax incr�ment Rev�nues
The only amount(s) to b� excluded as T�x Incrtmtnt Revenut are any amounts psss�d thrauyh to other Iceal Uxing
ag�ncies purauant to H�alth and Safety Cod� S�ction 33676. Tax Increm�nt Revenu� s�t-ssid� In t�e Low and
Moderat� Income Housmg Fund wil! bQ washed in the above csiculation, and th�r�fo� omftted trom Available
R�venu�s at y�sr �nd.
item 4. �bov�:
This represents any psyments from any sou�c� other than Ta: Increment OR avaiiabk revenu�s ior �nstance, an
ag�ncy funds a pro)�ct wilh a bond issue. Th¢ previous SOI included e Oisposition Development Agreem�nt (DDA)
which was fuily sstisfi�d wrth thtse bond proceeds. The ODA would bo shown on the Reconcilistion Statement
as fully ►epa�d und�r the "oth�r" column tCol E�, but wnth funds Mtat vrre n�ithsr Tax Incrsment. nor "Available R�venws"
as deflned. Thc amounts used to sstlsty this OQA would be inciuded on Im• 4 abov� in ord�r to accuratNy
determine ending "Availabfe Revenues"
Re� <S�i�9a1
0
v
�
Reconciliatiun Statement - Uescription of Adjustments
���r�,r. F'alm Descrt Kcdc�clopment .1�enc�
►'�,���•,� ���•.� Pruject Arc:i # I
�Rccoociliati��ii ... . . . . .... ._ . . , .., .., .,. . . ..
tihi��t Dc�ciipriim of ldjustment
pr�c �nd liuc:
P� 1 Incic•1�c �n p,�c. th�u,,�h a�;rc��mrnc Agrrrmcnt am.�unt t:t�matM throukh
l.inc 5 :�,mput.tu��ii nl p�ulrctrJ ta� incrrmrnt �u pru�r.t �rrz
P� 1 Incrrs.r in pa.. dzrou�h .igiermrn� A�r�rm.nt .�m�>,in� r.nm�ucd ihre�ugh
I.inc 6 c�+mputation of pruiccie�l ta� +n�rrmrnc ia rruir.•� arca
pu 1 lncic:i.c m p:�.. thruu�h atrrcm�nt. ,�grc�mcot am��unt r.t�maird throu�h
l.inc 7 rumputat�on u�'��nqr.•ted te�, m�rrmrnt in pr���crt �ira.
P� 1 Incrca�r �n p�+<. thruu�h agrrcmcnt .A�;rucmrnt amoimt �•.umatrd �hi��ugh
I.inc 8 cumput�twn ut prwrctcd ta� inc�tmrnt �n pio�r:t a�ta.
P� 2 Jnrrcax �n pa.� thruu�h :+�trrcmrnt A�rcrmrnt amo�mc r>�nnatrd rhruugh
I.inc 1 ruiTtputannn t�t'pnyrrtra ta� �nrrcnunt in prolrct .�rra
P� 2 inuc�.r m p.��� :hnwKh agrrtnient. Agrermrm amouni t,tima[rc1 through
Linc ? cumputatiun ot p���irctrd ta� �nc�rment in pio��:t errs.
P� 2 �Incrr�.t �n pe.. thr��ugh a�rrcment. •�ercrmrr� am��um c�umatctl th�ou�!h
Linc 3 .•omputiuon of pm��cccA t�r incrcmrni �n pru�cci .+ica.
Pk 2 In�•ir.+.�• in l���. .u�d m���t�•�.ur,rt-Z.idr 4mc�unt r:��matcti thrnugh
l.inc 4 :omputauun ol pm,c�ir�l t.,� �ncirmcnt �n E,��tc:; lrra
r� 2
Line 5 Rep�+�� �m�rr.t Jur �a Luan� fr��m the ( u� ��f 1',ilm Ur.rn
P�; 2 Incrr.i:e m Sfl ?557 f rr:. lmnunt ha. b�en est�matetl thrnu}.h
l.inc 6 co�nputation ut piu�e,t�J taa inrrrmrnt �n p����crt arc:�.
� P� 2
I.inr 7 R�zx�n mterr.t duc on Lo.sn, fmm the ('ii. uf ('alm Dexn
� Py! 2 �nccrra.c m pa.• rhr��ugh agrcrmcnr qgr.cmcnt anx�unt c,t�matrd throuth
Line 8 rumputauon ut pnyr�trd w� inrrrmrnt in ��r„�rci .,rca.
Pg 2 I lncrca.r m pes, through agrcement Air�Yment am��unt r.iiii�at��cf thr,�ugh
Lint 9 c�mputatiun rf prujrctcd tar �ncrrmrn� in pr��ir:t arca.
Pg 2
Linr 10 Pru�cct rust tund�n� :ind :�dmim�tiati�r a�ct, incurrcti dunn(t fi.c�l �rar
� pg 2
Liac 11 Rcpon pa�mcnt �nadr to ihr f.durei�unal Rc�rnuc Au�in.ntatiun f und.
P�
I.inr
PR
I.inc
FA
Line
�� I
l.inr
,PR �l.ine
p� t
I.ine
Pg
l.iue
NK
I.inr (ir.init ln,al
lmoun�
l��).a1 t.?�5
:J.iCK.�ch"
" �Q�1.:3�
� il)R,hV :
Z.d�)7,f�?7�
�.? 1 I .Uh � ,
.l.p7l .r(rt
7�1.a 12.%-t�)
�;9.u3�
�. t�p,_ 92
1_'/>.K55
t5�s.�kt}
4 q�Y i %� �
t h,h6 ;
'.l( (_�Xh 1
I '�).: 51�.�':
{
STATEMENT OF INDFBTEI)NESS - CONSOLIDAT�D
F'TLED FOR THF 2006-2007 TAX YEAR
tisme of ftedcv�elopm�nt A�enc�� Pxim Desert Redevelopment A$ency
Namc of Pr�ij�tit Area Prnject Area # 2
Ratances Cs►rried Fonvard From:
Fiacxl Prriod - Totals
I Optiunall
Pwt Fi�cal Period - Totsls
t:rand
Total�
�vaifsbie Revenuex
Frcxn c'alculatiun of A�•ailablc Rcvcnucs. Line 7
'Vet
Reyoirenient
(From Form A, Page l Tota�c)
(From Furm B lotalt)
Lise
(1) S
(2) S
(3) S
(4) S
(S) S
�
Covcr Pa�e
Cur •ent
Toql PrieeiprVlntereat
Outstaadin# t)ebt Uue During Tsx Year
b56,849,h45 S I i,i67.5U3
- S -
6i6,849,F45 S 13,Sb7,t0?
�iS6,g4�.�i5
('nscolfdtte oo thi� form all of tbe data contained oe Form A asd B(i�cludin� aupplement�l pa�e�). Form A i� tn inciude all iodebtednr
ent�rcd into aa oi Juee 30 �f tbe F ival Ycar. Fo�m B msy be tited at ti�e opNon oi tl�e s�enry, and ia to include iadebtedness entere
ieto past June 30 of the F��cal Year, parsusnt ta Halth aed Satety Cade Sectioo 33675(cx2). Tbis n optional for esch a�eacy and is not :
rcqoircment for fllin� the Statement of indebtedneas. T�e Reconcilistion Statement � to include indebtednest f�om Form A onl
C'crtitiwt�n� of Chief h inanc��l niTiccr:
Pur�uant tu �cti;ti�m i i6775 �b► of the Hcalth and Safety Code.
t hcrch� ccrtify that thc abuvr ic a true and accuratc Statement
of Indrhtedncs< tor thc ahovc named a�+ency
P�ul S. Gibaoe Finance Directar
V,rne r,d�
�� �'7=-�6
M��11W� I IAIC
�.� n � Y�
�
STATFMF.NT OF' iNDF.BTF.DNF.S�
FILED FOIt THF. 2006-2007 TAX YEAK
'�ame of Redevelopi+newt .��encv Palm Desert Redevrlopment A�ency
vame of Project Area Projeel Area � 2
For Indebtednas Eatcrcd into �,a of Jnue 30, 2006
a�c id.�cxr�.aw+
2(►02 !'u Allocat►at Refunding
(�) f3ond I�sue - S 17.310,0(KI
1995 Tax Ail�caticx�
(e► NunJ hsue - S 4,R90,OW
�(t'1 tlty ul {'alm iksen Ln�n Sh,U(h1,00�
��� t rt� of Palm ncsert t.o�u� SS,�)OO,c10(1
(F.) C'rty �t Pa{m neSert I.��an SS.S00 (1(lQ
(�OU11tY �iEflG�
(�'� Pass-thnwAh (cstimatcd)
('ounh' L ibrary
(GI F'ass-throuFh (esumAtcJJ
(H1 ('�'htAf) Pa�.athrou�h �cst�mateAl
1.ow and !�4oderate Income
.( 1 } Ftousmg Sct-Aside
(J► f'St'SI) PssS-through testimated1
�u� ! �ael.
_T_h��s P� ��e
otT�T Fonvutf
From All Ckhcr Pagcs
(;rand
-Tnt�ls
A�•ailable Revrnue�
From C'alrulation of Availablc Revenues
r ct
Re4oSrement
Parpusc of Indebtedeesa:
(A1 ?U112 517.31(if�t 1'AB Ictuc
1A) 19yS S4 n9M 7nR lc�ue
t( !( lq ut Pnlm lk�u:n l,u:ui - h,0(10,OOU
t!!1 t.�ty ol Nalm Vesen 1 uan -�.(KMI.OIIU
f F.1 t il� u( I'alm Uc.u:rt I,oan - S SOf1.0pQ
Dah
�,i9roz
06-0I 95
t �:os-9n
(►9r13f93
ON 30�95
07lt S�B7
07i I S'E7
07/ I S'E7
07. I 5'%7
u�r i s�a�
r��.i
17,310.000
�,tMQ.U00
6,Q(N1,IK10
5.(MMI,(10(1
5.500.000
V.A
'r'A
fv, A
tr, A
k: ��
Oriqi�al Dsta
T�nn
;r� yrs
3U . r�
� fi+cn
� R,e�
thxn
Cl ficr'
� ��
��
��pen
i�Kn
Inbnst
aa
a �tr: m
S.(I(!�•.
� 75•4� to
S yS'�.
('itc
}:�vning
(�rtt'
f'arning
C�ty
Farnmi;
\��
tirn
��A
N :•�
h'A
Tofsl
t„e.r..�
9:457.02')
5.12R,SSq
� �o.�x►�
�?i �I(1(1
l.i�. iQU
\,q
� '.�
K;�
`'A
h�A
1
S
S
S
S
�
Fqrm A
P�K� 1 of 1 Pa�c�
Cu►rant
7oL{ - PA�C1peNrrt�nsl
OubLndlnp O�bt Du� Du�lnp Tax Yar
Z'_'.237,475 I . i01.333
6A7�,U35 ?40.481
6,OOD,U()q 150,(M)0
S,oU0,OQ0 125,0O(1
S,S00,000 137,5(10
�37,584,OSQ a.60(�,20U
25,651,Ota 497,313
t2,R77,9�5 249.673
176.256.69'_ z.417.2Q6
14,Q')0,23� 22�t,979
SI I,h�2.J�2 S t I 049,h8t
145.177,,n3 S 2.SI;,RIR
b56,�44.(�45 S 11.Sh7,�pi
6S6„R49,1.t5
(F� ('��unty (;cncrnl p�,+.athmu�}i (�umatcd).
(C:1 (:ounq lahrary pus-thmu�fi (csumetcd)
IHl Coachella Vallcy �ic�iyuiw Ahatemrnt nictrict pass-through �eaimatcdl
tl) I uN and Mnekrale Ifuusmg C�y-As�dc prr Se�:tinn i3?3�.2 of NeaiN dr 5akt5 (:aic
(J) Pi11Sb pacs-throush (ectimatcd)
f � =
�TATF.r1FNT OF INDF.BTF.DNFSS •
FILEU MOR THE: 2006-2007 TAX YFAR
�ame of ltcdevelopment �genc� Pslm Desert Redevelopment Agency
�ame of Project Are� Projat Are� M�
For lndebtedneat F.atered into �� of Jnne 30. 2�06
� t�ht Id�ntlllutloe+ Wts
'(.1� Util:St) Pass-throu�h {cstimucd) 07lIS%R7
(B} t)('c'n P�ts-throu�h (cst�matecil n7,15.'E7
S
Ri�•ersidc C��unty S�hool�
(( J f'acs-tArough (eshmetcd? o7il S�R1
(DI CN ZSi7 Fccs Vanoua
Count� ('(P Reimburscme�it for
.(F.) R8�8y�8yi'� and o(1,91 tlt✓ON?
(F) ('it� �f Pslm I�cscrt Loan S�.U?5,(►p(1 03�13•91
:�(.) ('ic�� M' Palm UesM Lo,u� S2 43G.i16Q 12�twi'19
' Rivenidc C'ounry ticalth an�
'(11) 1u�•cnile FunJ 07R5�9(
: 2(103 Tax Allacation
(1} Bond Issur - S 15,74S,UW Q3�12.`03
i SH :1 I Pas.c�thruugh
'�^J) ()hli8auons 02r27r1!?
.(K)
�
{I.)
io41
This Ps e
Pu►pose oi Indehtedne.�s:
(A► ntil \11pas�.thmu�tflcstimetcJl
(HI I)l ('ll p;�cs.lhmu�h Icsi�maudl
(( 1 k��cn�J� County Sch�wls pn�s-U�rnugh (upm�ied)
(1)1 �!� 't�' ! n:s
(i.l t e�unh c fY Rcimburamcnt lo� 8R'%9. 8y 9l1 nnd W1�91
(h 1 � ity ��f Plam Ikxrt I,��an -�1 U55.1K1u
Prl�cip�)
N�q
N'n
y:A
N�A
1.022,2EE
2 035,0(i0
2.a36.QG0
`•A
I S.T4�.OU0
�I: A
O�ipinal O�h
T�nn
f)pcn
t ly,cn
t �pcn
t �pcn
in
Y rar�
tipcn
��
( �en
3Q
Years
�"
h,anse
Rab
N/.�
N.�.4
N�A
N�n
:`!A
Ciq
I•arning
('n�
t-amm6
N/.ti
4 SM� ln
i.00°e
N!A
ToW
Int�nst
N/A
N. A
V�A
i� •A
N;A
51.?73
(�.9112
V.A
�O.11U,929
N�n
Form A
P,R� z �r i r,xa
- • Cumrtt
Toq{ PAncipdAnt�r�st
Oubt�ndfny O�bt Ou� DuAny Tax Y�ar
4d.�M9.785 7i8.1J33
I� tt,h,365 3{3,A21
7.271.988 I 16.1 l2
11,�85,793 316,26Z
7iG.:�� t22.707
2.U55,qOp c�,;75
2,4:t6.p(>U 6U,902
12.IR1,775 25U.1>!14
;3.��GG.?yR 7G9,006
17,Z07,792 -
S I 45.177,203 S ?.517.R I R
((:) ( it} of t'ahn fk�scn I.�cui -12.A af�.Ohll
f f I) Rrvers�dc Count} Hcalth .uid luvaiilc �a.s-through (c�timatcd )
It) L00? 515.7�SM IAH I,�uc
nhlig,�b�x� undcr SFi 111 tix mmdat��n pacc-ihrrx�gh
(.11 amcwnl. tu �anou� t:uing cnuucs
IK1
(1.)
�
RECONCILtATION STATEMENT - CHANGES IN INDEBTEDNESS
6.7.;9,810
Name oi Ayency Palm Desert Rcdevet�pment A�ency
Name of Project Aroa Projecc :�rca � 2
iax Yaa► 200B-20Q7 Reconcilistion Dat�s: From July 1, 2003 To June 30, 2�U6
, . . _. . A. - • B ' --- C -. _.� . _--p - — � -- -�•E -•-- --- - F -
� o.a� a.�nn�.eo�. ou�.sa�e� o.a AdJustre�nb Amounb P�Id Ay�lnat R�rt►ainlrp
501. ps� and Mn�: B�id 11� Mpkinin� Inenss�a I D�enas�a tnA�bttd��at,lroen: Bsl�nee
_ Prlor Yr CumM Yr Dncrfptbn Ind�bted�na (Att�eh ExpM��don) (AtfacA E�cplanatfon� T�x Inenr►Nnt Oth�r Funds (A+B-C-0-E)
�q t P� 1 20Q2 Tax Allocation Rcfunding
l�n� A Lin� p Hond I�sue - S 17,; iU,(kNl '_'3,617,663 1. �80,18R ':.237,475
tp t Ps 1 19�15 Tuc •\Ilocatian
Un� B Lh» B fi�md tssuc - S 4,�90.OW
Pp t p4 1
L�n� C un� C(�ity uf Palm J�cscrt [.oan S6.OU0.000
-pq 1 �g 1
.L�n� � L�n� b ('it� of Palm DeseR I.oan SS,000.0(N�
p9 � P9 �
t,lne E ��n� E Cuy of Palm Uesert l.unn SS,S00.0(►(1
0( )
Pp 1 P� 1 l'�unR� ( icneral
lfn� F Un� F Pazs-throu�h (cst�matcd)
;Pp t Pq � ('uunty I.ibrary
Un� G Lfn� G Pa�ss-thruuKh (esumatrd►
`�p 1 Py 1
lln� H Lln� N ('VMAU Pitc-dvou�h (cstin�ated)
toT�t . s►+�s r�►�E
�
�TOTALS FOR111fAN0
' GRAND TOTALS
' N07E:
�
'Rev 5l2�94
6,000.000
5,0(10,040
S,'00.000
174.9U7.257
18,66?,688
9,1h9.987
249,798,425
257,510,?49
?;o axu
I 92,4R3
111.7 t2
b6,77�,'_'$ I
7 b30.277
3.730,329
78,�7�,1)A2
R7,006,46 i
264,7�5
23U,980
19?.48 �
21 1.7.i2
4. l U2,479
44?.9i i
222.381
7,047,489
37Z,707 S,G19,97R
�
Page 1 ot 3 Pages
6.-175.�► � 5
6,OOQ.000
5.�on,00u
S.SOU.Ut)U
237.58i.0�9
2 S,1�51.() ! 4
12.877 �3S
�2l,;25.S1R
?35.524, I ?7
S 507 i08,774 S IG5,581„S4i S 372.707 a 15,667,'167 S - S G56.849,W5
Column A must pual tM pr�vious y�ar Stst�n+�nt oi Ind�Abdn�ss Outstandiny O�bt Cdumn F must �qual tMs rsars SOI Outstindiny Debt
ealun+�. Us� tM p�q� �nd Nr» h4n+b�� wH th� I�dMbdnhs It Iist�d on in �sch �r as apptopl�te, and s brief dncrtptfon. Iqnon �rty IndebeMn��s
tulfy ►epaid In the pnvlous y�, ss h hact s�Mo �ndinp balanu. All rww Ind�bt�dn�ss �ntend IMo finu the pr�viow SOI i: to be Ilst�d
bMow th� p�avious I�d�bt�dness. EntK "n�/' in th� "P�ior Yr' psp� and Iln� cdumn tw each n�w IndM�t�dness.
�
V
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS
Name ot Agcncy YAtm Uacrt Itedevelopment A�cncy
Name of Project Ana Project �rea N 2
Tax Year 2006-2007 Reconctlistion Dat�s: From JuFy 1, 2005 To June 30, 2006
, . . � •. _.. .._8 ._. . ... . _ ._ _ .. -- -
` C .D. .�. E.
D�bt (d�ntlffeaMo�: Outsf�ndlnp D�bt Adjusbrnrttt Amounb Pald Apalnrt
SOI, p�p� �od Ihe: Brfef AN N�innl�y Inch�sM O�cnas�s Ind�bbdn�ta, hom:
�rlor Y► Curtrm Yr O�scNptlon (nd�M�dn�as (Attach Erphnatlo�) (Att�cA ExpNrnUonj Tarinene�ent Oth�r funds
Pq � Py t Low and Rtrxleratc Income
Un� I lln� 1 Hotutn�;5ct-Aside IZ8,S49,R21 50,750,534 3,(►43,G6.j
Py 1 Py 1
LfrN J L1n� J PSL'SD Pas.�-throu�h (estimued) 10,(1(1{,56G 4,275,i72 186.506
�p 2 Pp 2
Lin� A l►en A USIiSi) Pssv-tlirough (estimatedJ 35,151.072 10,413,958 SQ5,24S
Pa ? Pa 2
l.►n� B �M. B D('Cb Pzss-throu�h 4estun�ted) 10.159,O.i5 ;.384.255 17G v25
�s 2 �p ? Ri�rrside County Schools
'Line G l�rw C Paas-thruu�h (c,ctimatrdl 5,527.036 1,841,208 96,25�i
�p 2 P9 ? "
lfne D �Ine D SB 2557 �a'� l�,033,75E +,38i,Z0i ! 31,t63
PO 2 PO 2('ounh ('IP Reimburcemcnt for
LfeN E Lins E 8E;�l9, $91� and �Q/91 981.656 122,707 122,7U7
Pp 2 Pp 2
�L�n� F Lfn� F Crty uf Palm I)escrt [.oa�i S?,U55,000 2,055,000 79,1 I I 79,11 i
.Pq 2 Py 2
11n� G Lin� G Ciq of Paim Descrt Loan S2.43G.OG0 2.436.U60 93,780 93.78Q
.Ig 2 Po 2 Riverside ('ounh� Healtfi and
Line ►t lfrM H Juvenilc Fwid 12.681,775 ?SQ,UO() ZSQ,4�
►p 2 Pq 2 ?44? Tax �111ocatiun
'tie� { ��� I Bortd Isg�ic - S I 5,74�,OOQ 34,435,�tQ4 7G9,OQ6
.�g 7 Pq 2 SH 211 Pu.a-through
�ine J t�n� J Obli�at�onc 7,498,166 9.709,626
�tOTAL - TM�S PAGE
I
' NOTE:
257,5�0,349 83,930,847 372,707 5,544,.ib2
� a
Page 2 of 3 Pages
F _ __..
RKrwitninq
Bal�nce
(A+B-C.D.EI
176,2S6,by2
I �.090,2 � 2
44.969,785
i .i,?G6,36i
7.27I.9�8
I 1.285.798
736.242
2,Q 5 t,000
2,43G,060
I2.iSI,775
'i;,f>6G,19E
I 7,�07.792
z;S,52d,127
Cdumn A mwt pual t!M p�wioua r�ar StaMn�nt of lnd�b0�dnps Oubtandiny D�bt Cdumn F must �qual Mis ye�r's SOI O�mtanding Oebt Column.
(
RECONCILIATIQN STATEMENT - CHANGES IN INDEBTEDNESS
Nsme ot Agency Palm Uesert Redevelopment A�encS•
Nam� of Proj�ct Aroa Projcct Area �! 2
Tsx Ye�r 2006�2007 R�concilfation Dat�s: From July 1, 2005 To June 30, 2006
. , ... ..- _. . -- = . .._.__..
� B � C o i . . _ . .E
D�bt IdMfMcarion: Oubtandiey p�bt Ad�ushn�nls Amounts P�Id Ap�inst
3d, p� and �rM: drf�f A� Npinniny Inen�s�s D�cnasn Ind�bt�dnesa. hom:
�r1w Yr Cumnt Yr D�scrfpNon Ind�bt�dnwa (Atfsch Explsnatlon) (Atttch Expi�nMinn) Tax Inc►*n�nt Othet Funds
PQ New ►9 Prujrc� co.rts and administrative
LIn� lin� erpenses peid - R,98�.{1Q 8.'�K3
Py New Py Payments to the Gduc:ti�mal
Llne lin� Re�•enue .4u�mcntRtion (�und - 871,272.00 A71,272
•�y New �y 4d�. - removr pusiute availabtc
Lin• IJn� revenun tu get rnJinR W zrro - 2,19�,161 00 2,1 R�,.361
'9 P9
Line LM�e
►p !'q
'Lln� Llnt
�q Pp
lln� Clnt
��0 P4
,Un� LIn�
'�q pa
�LNw UM
.PY P9
Li�� LM+�
�p Pp
tln� LMw
r9 Py
lh�t LIM
�9 P9
Lb» Llt�
1
l
Page 3 of 3 Pages
- - F,._.. _ .
RereMinlnp
8al�nc�
(Md-GQE)
70TAL - TtYS PAGE - 3.075,616 - 3,075,616 -
NOTE: Cdurnn A must pua! tM p►wious y�ar Stat�en�nt of Ind�Dtldrass Oubtsndlnp Debt Cdwnn F must pwl this y�srs Sq putstandlny D�bt Cdumn.
m
�,
CALCULATION OF AVAILABLE REVENUES
AGENCY ►VAME Palm Desert Redevelopment Agency
PRQJECT AREA Project Area # 2
TAX YEAR 2006-2007
RECONCILlATIO►V DATES JULY i. 2005 TO JtINE 30. 2006
1 Segsnnmg Saiance. Ava�lable Revenues � _
(See Instructions)
2. iax (ncrement Rece�ved - Gross 5 1�.3�t� a'x
All Tax increment Revenues, to �nclud�ng any Tax Increment
passed through to other �ocai tax�ng agenues
3. Ail othe� Available Revenues Rece�ved 5 31 x..�tt��
(See Instruct�ons)
4 Revenues from any other source. incluaed
�n Column E ot the Recona�catFon
Statement. but not �ncluded �n (1 • 3? above S
5. Sum of Lines 1 through 4 C I: �,�,'.�u,;
6 Total amounts pa�d against indebtedness
` in prewous year. (D � E on Reconcihation Statement) � ;S.r,n',v�,'
7. Avaiiable Revenues. End of Year �5 - 6) � �
FORWARb THIS AMOUNT TO STATEMENi OF INOEBTEDNESS
notr: Since accountin� funds are ne;;ati�e, a�ailahle re�rnue on Horm :1 ha� heen sho»n Ae irr�►.
NOTES
Tax Incremt�t Reve�u�s'
The only amounqs► to be �xclud�d as Tax Incr�m�nt R�v�nue an sny amounts pass�d throuah to oth�r local t�xi�g
aqencies pursuant to H�alth and Safety Cods Sectfon 33676. Tax Incremertt Rev�nue s�t-ssida in tha Low and
Mod�rate Income Housiny Fund will be washed in the above cslculation, and th�r�tor omfried from Availabl�
R�v�nu�s at y�ar �nd.
Item 4 above�
Thia repr�sents any psyments trom �ny source other than Tax Increment OR available revenues. for mstance, an
agency funds a project with a bond issus. The previous SOI included a Diapositlon Development Ayr�emenl (DOA)
wh{ch was fally aat�sfi�d with thes� bond proc�eds. The DDA would t» shown on thQ Reconciliatlon Stattm�nt
as /ully repafd ur►der the "other" cotumn (Col E�, but with funds tt�at w�n raith�r Tax Incnmert� nor "Availablc Revenues"
as deAned. The amounts us�d to satisty this OUA would be mcluded on Ifne 4 above in order to accurately
detertmne ending "Available Revenu�s"
cf. �•`>•2�5,
�
:�ienc�
1'n��c.'t �r�•c
Reconciliation �tatement - I)e�criptiun of Adjustments
PAIm Ucxcrt Rcdc�clopmcnt ��enr�
Yro,jert .4 rea � 2
�
Rrconcifiation
�hcct
px�r and line:
1'� i
I.ine 3
pk 1
I.inr 4
P� �
i.inr 5
P� 1
l,i�ir 6
pK 1
�.tfih 7
p� 1
I.inc 8
P� 2
Linc 1
r� 2
Linc 2
PR 2
l.iuc 3
PR 2
l.ine 4
�Pk Z
I.ine 5
PR 2
Liae 6
P� 2
l.inr 7
P� 2
i,ine 8
NK 2
l.inc 9
Pg 2
Line 10
F� 2
I.ine 11
P� 3
i.ioe 1
YR 3
l.lnc 2
Pp 3
I.inr 3
Pa
I.ine
P�
l.inc
NK
Liae
P�
1)etcriptim� uf �dju>Imcni �
�m��unl �
R�•E�ort �ntrrr:r dur �,n 1.��.�n. I�rrn� ihc ( ity ��i' Palm Dc•rrt I� ?:�1.'/SO .
Rc�+��n �ntrr�.t dur un I oan. tiom thr C'it� ��f Nalm Dc>rrt
Kt4x�n in�cic�t duc un i.ua�y, tmm ihr ( �t� w P.ilm i)r.rri
Incrr�.c �n pe•� througli sgrccmcnt ,\gre�•m��t „mount rcnmatrd thi�ug'i
rnm�+ufa>>on ��f �rn?rcicd tar �nrrcmcnt m pro�c�1 �rca.
Inerrl�� ut p1�� throu�th .i�rrtmrnt AKrremrnt amounr �;�imatc.i thruugfi
c��iuputauon ot pro,�rctr.d ta� mcrrmrnt in pt�qrcl .�rca.
Increa,c in pa..� ttu�ugh agrerm�nt. Agree�ntnt amc�unt e.tunat�d 1h��,ugh
comp�tation o1 pr�jrctcd t�t increment �n pruir�t arra.
Incrra.e �n Irn� :�nct m.�dcratr �ct-a�tdr Amoant c•timatcd dttough
���mputauun of�prulrrtrd tn� inr�rmrnt in pru�tct arra
Incrca.� in pa.. thruu�th ,agrctment. .�gtrr»eut ,tm�+unt r�nm�trc+ thmugh
rumputancx� of pro�ccccd tar incrcmcnt in prujr�t arta.
Inrrr:l�r m pa;. ihruugE, airc�•mcnt. 4grccment amnunt c<t�ms�rd thr��ugh
cum{r.nauon .�t pru�rct�til ta� mrrcmrnt in pro�cct ar�a
��1Cftn<C ul �d�+ Ihruu},Ch .igi�emrnt �grccmrnt 3moum r,um.�trd thrru�h
cumpu�tion of proicctcQ t�� �ncrcincnt ui pr�icct arca
fncrr.�.r in pa�• itnuugi+ a�rcrm.nc. A�rrccmrnt �unc+urt[ r.tirTtstr<t thrau�;h
coinputauun ��I �,ti,{rrtrd t�� �n: rrmrnt in pro�rct arra.
It�crea�e ut Sl; �55 % f���r, Amuunt ha. hren e�tim;�ircf thr�,ie�h
computauon �[ pro�rctcd tar incrcmtnt i�i pro�r:t arca
I)rerrs.c �ri umuunt �1ur io ('uunt� prr pa., thtuuyth ayrrccmcnt.
Repon �ntr�eai due un i.oanc rium thr (lty �,I Palm Ur.�n
ReFx�rt murr,� duc on 1 uanc from thr (lt} vf i'afm I)eatrt
T3cti:rr,�.r m pa�s thr�u�h agrtemrm Adiu.tment �. rnmanh duc to changr ro �rrm
of plan (ZU3' )!or prorcYt area rather than t�mr to repay �ndrhttcJnrti� ( 2ttdZ1
Increa.e in �tar�ton pa�� through agrernune A�erment am�u�tt e.rim�ta'.
throu�h cumputatio�� ��i {xolccird [a� :ncrcrnent in prcy�rt .�rra.
AArn�n�.tr,n��r cu�t. +ncurrr�i ic c��nnr�tion u�th t�� incrr�r�cnt and
bc�nd i.�ue�
ftc}x�rt paymcnt+ io �fi: L•'du�etionai ftc�rnuc .\u�!mcntatior. f und.
1 e� re{x,i7 emount necc�•an t�, icrn at e�lablr �r�cnue. n�b: Scr�,.•r iund. I�x
iht. prnir�t arr.� arc n�•ea�i�c t�hirh mean. n� a.ailah�r rt��,�uc �: prc..•nt.
��
IS
IS
S
5
5
`
�
S
ti
S
�
3
1
�
K
S
c
c
I.inc Crr,nd I,,tat
:.
� a�,.s x : �
:I'."li .
�,r,.�;4.�x; I
I
-.�;�,-,
�.�3U.3<<1 �
I
su."5(i,sza �
a.'_'S.17� �
I
t0.-�t 3.��Sx �
;,ixs,�s� i
�
1.8-11.2�1� �
i.?8?._'Oi -
� i��.�o�r
'+�,111
��3.7R0 !
t' SO.I�U p
�7,'r1q,f�.',h �
�c,4R ; .
�
r � t.��'_ -
I
', � vt, ;h t
�
�
i
�
th� 'i1R �t:h �
0
(
STATF,MENT OF lNllEB'1'l�:DNE�S - CONSOLIDATF,D
FR.F,D FnR TFiE 24Q6-2007 TAX YEAR
�is�me af ReJe�•eliipmcnt A�rnr� l'alm D�.sert Redevelopment Agency
�ame of Nrojcrt Area Praject Area # 3
Balances Carried Fonvard From:
Fe,scal Pcriuii - Totsis
! �>ptinnal 1
Post Fi�cat Period - Tottls
(:rsed
'I'ot�l�
Availahic Revenues
Fran ('alculatiun ot Availablt Revenues, Line 7
�iel
Itcqoi�tilltnt
(Frum Form A, Page 1 Totals)
iFrom Focm 8 Totals�
( _
Cover Page
_ _., ,.—;;--..--•---- -•._._.
Car�ent
Total PrincfpaVinterest
Linc Outst�ndie= Debt Due Drrinx'fax Year
( I 1 S IW,7$(�,401 S 2.R71,65R
(Z1 S - S
{ 3) S 164,7$h,�tU I S
( 4 ) S 791.288
( S) S 16 i,995. I t 3
Conaalid�te �e this torn� all ntfAe d�ta coetai�ed on Form A and B(ineludin= �upplementa) pa�es). Form A i� to include ail indehtedna
eetered teto a� otJu�e 30 nt ihe Fa►cal Year. Form B �nsy be tiled st the option of the ��ency, and 'u to inciude irtdehtedness entere
into post .tuae 30 0[ tMe Fbcal Ye�r, pursuant to Health aad Satety Code Section 33675(e)(2). This � optionsl for ne6 z�encr and ia not s
requirement for filinX tke .r,tatemert uf indebtedees,s. Thc Reconciliation Statement � to include iedebtedne�s from Form A ont
Ccnification of Chief FinanciTl l)tt'icer. Paul S. (:il�on Fioance Director
PurSuant to Section .i�677S (A) ot'the Hraith and Satety (�ode, vamr ��d�
I hercb} rcrtify that thc ah<wc ic a trve and ac�ur;ste Statemem
of Indctxcdncss ti+r the abuve named agcncr. ��� 9�Zj-/G
���r�nnut i �ie
2.871 _b5R
Rr� �, i va
r � (
STATEMF.NT nF IND�BTF.i1NESS
PILF,n FOR THF. Z006-20Q7 TAX YEAR
ti�me ol Redevelopment A��nc� PAIm Desert It�development Agedcy
Narne of Pruject Ares Projtet Arq M 3
For l�debtednes� Eot�red into ss oi drne 30. 20Y6
D�Ot t�MntXlcatlon Dal� PAneipN
i uuntv Citner�l
(A) Pass-ttvouRlt(estimatW) 07l25141 N;�
C'nunlf [.ibtary
(B) Pus-thruu$h (eshmatcd► 07�2S�y2 NlA
l ow and hlakrate Inccxnc
(c � finusin Set-Asidc n7•2Si93 �JrA
( �ounh���rt
(�) Pus-throuy�h IcstimatcJ) i)1�25�'�i V �
(k:) c'�'\4U pass-throu�li (csumatcdj 07'2SR5 N:�
(t) t'�'�f:11) Pass-thn�ul{h (ccamatal) U7l25;96 �/A
((.► ()tit �SU Pass-throur{h (rsttm�ted) 07r25K17 tv!A
(tl} 1X'C'L? Pass-throu�h (c�timatcd} n7:2>r9d N,.�
R���rrsidr ( uuntv Scbcxil�
( I ) P�ss+-tluuuKl� (cstimalcd) �37:25N9 N,:�
�J► SA 2??7 Fcea Various �1�A
ub � otai.
�This P_s_�ge
ocTTF-onvard
From �1!! Uther Pa�cs
l,rand
Total�
A�•�ilable Revenua
From (.'alculation uf Avvilablc Revem�es
�et
tttqa�remeat
Purpose of IndeAtedna.�:
(.�� R��cnide C'ounty pass-thmugh lestim+urd).
fBl Rir�Ti�ic (:ounty ! ihrw �atrthrou�h (csnmurdl
(( 1( uw .uid Mafcntc Hc�u,�n�; �ct-A��ck per leiticx� 13 s34 2 ut Herllh R Salet� l udr
(DI R��cnidc t:nunt� I ue ps.wrtluuuXA (c>dm;u�d)
li.l l�r.trhe{I� V�Iley Waltr (hstnc� pacs-thruugh tc>IuneleJ)
orlqtnal oan
Tenn
<7pen
��
l fien
� ���
ck,U+
t fien
t �pc,�
()pcn
���
()pen
M1ttfMf
��
u,.�
!�l1:�
1�-.4
N �A
h�n
N �A
\:.4
\�A
\:A
h'.�
Tobl
Inhmt
V rq
*t, n
V:A
u:n
`�.4
.'�!'.1
Tv/A
�-A
!� �n
N �,1
Furm A
F�Re 1 uf 2 Ps�t�
Cumat
lotst PrineipdAnL�rtfl
Oubbndinp D�W Dv� DuAn, Tax Y�ar
58,;8R.27U �Xi9.5G3
6.42S,G2R 106.701
45,GI�,OG8 757,�i26
i �,Of�5,m2 �a�,7s6
1,0�)4. ; 52 I h,8 3 3
$70.9�(1 7.�51
11,515,900 97,1�7
2.? 9Z.961 2(J. I 97
i,?oi.s�; �o.Qaa
2,71 f!)6A 32.?63
t4:,'ftn9z� S 2.2o2.37e
22 SOSAt+7 5 6A9.2g2
IhS,'/1t6,1U1 t 2.S�I.GSt!
�791.271$1
� � �.�4�, � � i
S
S
S
S
S
IF� Coachella Yalle}• M�,sqwto Abatrnirnt Ihsln�t pa�,-thnr�,Rh ��samMai)
([:) I)rxn Sands Unitied Schnoi t)istnct pact-throu�th Icsumatcd)
(11) nc�scn C��mmunity (;ulle�r Distnct pa�.-thrvugh Icalut�rtrJ)
(I) Rrvcrside l'ounty Schwb pasrthmu�h (��timali;d)
(.I) SR 2557 P�Y�
f ( ( :
STATF.MENT UF tIYllEBTEDNE.SS
FILED FOR THF, 2006-2007 TAX YEAR
�anu uf Redevelopment .�Renc� Palm Desert Itedrvelopment Agenry
vame of Project -�rea Project Arts # 3
For Indebtednes.s Fntered intn �s of Juae 3U. 20116
= or+yi�,.� aq - . .
� ��t��.f
� Wbt IMe�tMic�non Oal� P�fneipd T�rtn Rab
Ri�rr.idc ('c�unty f Icalth and
�(n) Ju�cmlc Fund U)25�91 N�A ch,cn NrA
.(B� ('�ty��fPslmnescrt[_oan-51,782.56Z UK25/02 1,1R2.Shi ��xn Varics
. �Utl �'!ax Allocation Bonds 2� 3.q0••: �o
`�� i..«,�-Sa,�as.000 omi-u3 a,�4s.aa ���, s iis :
� Sfi = i 1 5tanrtcxy I�a,4� l hrouuh
��U� I'�ymc�ts �est�mated) Ob1��U? V�A �,e�, N�4
�
�(F.)
�
� (� l
yGl
i
:(1l1
I
i��)
:�.r�
Ith►
'�t.►
Total
�Thf� P�e
Prrpnx of Indebtedne.v:
(� 1 Ri�rnidc l��unty }Ica1tA .u�J lu�rnilc Cund �us:-thmuph (csnmuttd) (�.)
(Ri (�ty uf I'abn [k>crt 1 u�u� Si.?A?.�6? (H)
fe ► 1���1? j•1 7t�11 IAlt I.�uc l�l
Ohl�gah„n u�dcr 11i � I 1 Ivr in.u�dMnn p:tcc-thrnugh
(!)► imiounG to �Nn�ws taxmti rnut�c, 1.1)
1l.I (ti1
tFi II.)
Total
Inbn�t
NA
4-l.SMt
4.1 I h.97Q
N�,1
F orm A
1'aRe 2 of 2 Pa�ea
c��.�c . . _ _ . ...
ToW PrincFpaYfnfarpt
OubqndlnQ D�bt Du� Duriny Taz Y�a�
5.770,414 ??8.12U
l,782,56? 44,554
7.47G.921 ?<)G.5')8
G.��hG.56? -
S 22,505.467 S GGy.28Z
l � �
RECONCILIATfON STATEMENT - CHANGES IN {NDEBTEDNESS
Page 1 oi 2 Pages
Nart►� of Ayency Palm Desert Rcdevclopmcnt Ag�ncy
Name ot Project Aroa Project ,►res +� 3
7ax Y�a► Y006-2007 Reconcl{istlon Dat��: From July 1, 200b To Jun� 30, 2006
- A . B � � ; � o_:� _._ .r_ ... E . _ . ....__ .. _ . F._---�
D�bt ld�rttMlcriio�: Oubhndinp D�pt AdJwUr»Ms Amounts Pdd A�irtat R�rr�lnlnq
Sd. ppe �nd Mnr erhi A� /yinninq Incn�s�s D�enasa Ind�be�dewss, ham: Bd��c�
h/w �r Currtnt Yr Msertptlon InMbtadMss jAttaeh Expi�rwtlon) (Attach Exphnatbnj Tsx Inenm�nt OtMr Funds (A+B�GD�E)
�y t r� t �'uunry ('�cneral
L�x A Line A Pus.thruu�h(cstimatcd) 43,564990 t5,70J,6i0 SR1,350 SR,388.270
pp 1 Py 1 County L ilxuy
1p+e B un. B Pa.is-throu�h(esnmated) 3,9U5,4�1 1,617,19U 96.99? 6,4ZS,G28
�p t ay t I.uw and �lcxierate Inccxne
�lin� C un• C Housin�5cc-:�«de 34,SI�.S3q 11,482,O�t2 6R8,S1� d5,6i3.�68
� �q � Py 1 ('ount} F�rc
'Line D lin� � Pa,ss-thrc�ugfi tcstimatcdl 8,4-t7,949 2,785.060 IG7,037 I 1,065,972
'�0 Z pQ t
'lin� E urN E ('�'1�'n Pass-throuFh (estimntcdl ?.Q34.486 I.OIR,4�? I 1,6h1 1,9Q4.�52
�'q 1 r� 1
�l�n• F �me F C�'MAn Pa�s-through (estimuod) 1;314,R86 4.i8,836 �,U70 87(1,91q
�
.Ip S Pq t
'ltn� G �1n• G USI.«n Paus-throuRh �cstimatcd� 17.38G,169 �,803,2�6 67,033 ! I,�Ii,9p0
�Pq t �� 1
'1.►ne ti un� H DCCD Pas.rd�rou�h (Csumatui) 3.612,779 1,205,889 t 3,9'_9 _'.3�2.961
�TO7A1- THt� vAGE I 17,076,229 11,Sg8,922 R,466,484 1,931,5g6 - t;8,267,081
�TpTAiS FORr1rARD 20.476,137 7,88Z,769 7R7,h8S l,OS2�qp� - 26.519,320
� GMMQ TQTALS
NOTE:
S 137,552,366 5 Z9,d72.691 S 9,254,169 S 2,984,487 S - S 164,786,401
CdutR� A must tqual th� ptivious y�a� StatMe�t ot Itd�bttdt�sa Ouls4�dln9 D�bl Cotwnn F must pual tfib ysars SOI Outstandinq D�bt
edumr+. Us� tlw pp� se�d Ik» nun�b► tA�t tM hW�YbdMs� k(kbd on M�reh r�sr �s �propei�t�, ��d a lrfM d�seriptfo��. Ipnon �rry ind�Dbdmu
fu� npahl In fM pnvious re�r, as It had s�o �nAirp balanc�. AN n�w ind�tiE�dn�ss �nt�ned Into sinc� tAe pnvloua SOI b to be Hsted
bNow tM pnvioui Ind�bt�dr�. Er� "rf�/' in the "Prbr Y�" pp� and Iln� cdumn for �ach rNw IndRbteArnss.
,Rev 52/9�
�
r
RECONCILIATION STATEMENT - CNANGES IN INDEBTEDNESS
( _
Psge 2 of 2 Pages
N�me ot Agancy f'�Im Desert Recl�vclopment A�cncy
Name of Project Area Projcct •�res a�
Tax Yeer 200�2007 Rsconcilistion Dates: From Juty 1, 2005 To June 30, 2006
,...._ . _. . .. . _,. . . A . _ B . _ , � .. . C . :. . __D ._ _�._ _. � _ ,
p�bt (eMntlflcstbn; Outthndtn� Wbt AAJustrr»nts Anaunls P�id Ay�inst
SOi, p�y� and ilne: BrMt AN �Inninp Incr��s D�enas�s InA�bt�drKq, tran:
�rb► Vr Cumnt Yr D�scrtptlon 1nMbMdew�s (Att�cA Expitnailonl fAttach Expbnttbn) Tax IncrrrtMnt Olher Funds
PQ 1 Po t Rivus�dc ('ciunry S�hoal<
l�n� t t�+» I Pass-thruugh (esnmyt�d} 1,96S,S:t6 656,065 7,57$
py 1 Pq 1
lk►� J Ue�e J SK 2557 Fccs 2.O�t5.779 64�,iR$ 27,207
�p � Pp 2 Rivcrside C'ountv Ncalth and
l+n� A un� A luvcmlcPund 6.a44,Q34 t3t,62U SU(1,M)0
Pp 2 Pp 2
'l�r►e 8 lin• 8 Cit}• of Falm Dcsert Loan - SI,7R2.56: 1,782,563 68.�,2? 66.b2i
��q 2 �p 2 2(?(1: Ta� •111ocation Bondc
LiM C L1e• C Issue -14.745.OW 8,:71,?25 2`)4.2QR
�q New Pp 2 SR ?1 I Statutory Pass Through
�line lin� 0 Plyments Sc.�umatedt - 6,'166,56?
�p NerwPp Paymcnta to thc F.ducatiunal
:l�ne �In� ftevenue Au�mentatio�i t und - I 5 I•72d 1 S 1.7�4
�►p NeraPy T'roject cos�a ��d adm�nisUative
�lin� une oYperues of prvjcrt arca - �,471 3.�71
-'9 PO
Lint Lin�
'Y P9
' Li�e llne
�
►q P4
Lie� lln�
'�Q P9
LIM LIM
; �
...- F-----
Renvintny
B�I�nc�
(�*�QE1
I,?OI,R9�
2.7 I 1.460
5,»y,a i a
I.782,�G?
7.976.�27
6,y66. �E+�
�TOTAL - THIS �AGE 20,476.1 i7 7.RR3,7h9 787,G85 t,0�2.901 - ZG.� 19,3_'0
� .,
NOTE' Cdumn A muat �qwl the pnvious yw Stabrn�nt of Ind�Dbdn�ss Outstsndmp Deb� Cdumn F must �quaf tfiis re�rs SOI Oubqndinfl OMt Column.
CALCULATION OF AVAILABLE REVENUES
aGENCY r�AnnE Palm Desert Redevelopment A�ency
PROJECT AREA Project Area # 3
TAX YEAR 20Q6-2007
RECONCILIATION DATES JULY 1 2005 TO JUNE 30. 2006
t Beginnmg Baiance. Avaiiable Revenues
(See Instruct�ons}
2 Tax Increment Recerved - Gross
AA Tax Increment Revenues. to �ncluding any Tax fncrement
passed through to other locai taxing agenc�es
3 A1i other Ava�lable Revenues Rece�ved
(See InstructionsJ
4. Revenues from any other source mc�uded
m Column E of the Reconal�at�on
Statement, but not �ncluded �n (1 - 3) above
5 Sum ot Lmes i through 4
6. Totai amounts pa�d agamst mdebtednes;
�.- in prewous year iD + E on Reconcdiation Statement)
7 Avaiiabie Revenues. End of Year (5 - 6)
FORWARO THIS AMOUNT TO STATEMENT OF INDEBTEDNESS
NOTES
5 'I7.;�);
5 ;.�hQ.-i?
j kV.7�lU
C -
C , 'i."?i
j �,��x.t,sH %
S 79t.28;t
Tax Incr�m�nt R�v�nues:
The oniy amount(sj to be excluded as Tax Incr�ment R�venue are sny amounts passed throuqh to oth�r Ix�l taxinq
sp�nci�s pursuant to H�alth and Saf�ty Codt S�ction 33676. Tax incnment Revenu• s�t-asid• in th� Low and
Mod�rste Incom� Nousing Fund wiil b� washed in the above calculstion. and tfierafor omittcd from Availabl•
Rev�nues at year end.
lt�m <. above:
Thfs r�p��s�nts any paym��ts trom any sourc� other than Taz Incnment OR available revenues f or instance, an
aqe�cy funds a proj�ct with a bond issu�. Th� provioua SOI inctud�d � Dispositfon OevNopm�nt Agreertt��t (ODA)
which was fuily satisti�d with thes� bond proc��ds. Th• DDA would b� shown on th� Raconc�listion SWtemant
as fully repaid under ehe "other' cotum� (Col E►, but with tu�ds that were neither Tax tncrement. nor "Avallabl� R�venues"
ac d�fined. The amounts used to satisfy this OOA would be included on line 4 abov� in ordsr to accurat�ly
d�termine endinq "Avsllsble Revenues'
�tr. 5•7 4»�
M
�
Reconciliation Statement - i)escription uf :1clj��slments
�c��c� Palm nesen Kedc�•clopmcnt A�;encti
P<<��t,� �rr.� Pruject :�rcx # 3
Reconcilialian - - -- - �
Shcrt !>rscre�ition al.4djustmte�
pY�r aud linr:
P� t In�rr.+.c• �n �.i.• �hrc�uKh agrrrmrnt �grcrtnrnt am��unt c.tim�t�d thruugh
Liae 1 computsuo�� o� prc�i��trd tat �ncrci�ticiSt m pr�i�rt .�ica.
P� S (n�ree,r �n pa., thruuµh agr�cmrnt Agrremrn� am��unt r.t�matrd ihr��u�h
l.inc 2 f c��mputa:�rn ot pro�cctcd ta� �ncrrm�nt itl rrJ�i':I d�C1
P� 1 lncrr�.r �n ra.� ihrc�ugh agrccmrnt. Agscrm�nt anZou�,t c.umat�d tMough
Liue 3 c,�mputauun uf pro�rrtrd tax increment in pro�ect arca.
PQ 1 Intrca:t �n pa�. through aFrcetnrnt. Agrr�mmt amount c�amated ttir��u�h
Line 4 computation of pio�cctcd �aa �ncirmrnt in Vr��jcct arca.
P� 1 I�rire:+.r �n pa:• thinugh �Errcment. AgrCemtnt amuunl c���mated throu�;h
Liur 5 computeuun of pru�rcini wz incrrmrnt m pru�rci arra.
P� '1 Urcrracc m pac� through agrecmena Agrr�mcnt amount tst�in.itrd �hr�urh
l.ine 6 computatr�n oi pru�t.trd ta� mrrrmcnt in prn�rct sren.
YR 1 I�ccrea.c �n pa.. through agrccmrnt Akrc.•m�nt amount c�mnaccd th� ougn
I.ine 7 c��mput�t�urc ol pru�rctrd ta� incrrmcnt in pr���r�t arc:,
P� 1 Urcrea�c �n pa.• through a�rrcairnt Agri•�•mrn� am��unt c.umatrd thmu�h
I.ipr 8 romputatu�n uf pio�rctrd tcu in.rrmrn[ tn pru�rct arra
PK 2 �Orcrcacc in p.+» thruu�!h agrcrmrn� Atirermrnt amount cstnnatrd tnrough
i.ine � a�rnPutat�un ul prn�rc�td ta� u�crc•ment rn rru�r: t arra.
PC 2
Line 2 SF3 ��S' 1 rc�
PR 2 !)rcrea�a 's�ti pa., through aktreemcnt .4grrement amount e�timat�d thr�ugl�
Line 3 cc�mpuiauun of pr,��cctrd ta� incr�mcnt i�t pro��,:t srca
P� 2
Line 4 lmerr�t Auc on ('rt� luan fur currr�t t�.cal �ra�
PQ 2 incrca,r m:ta�utc,n pa.s through a�rcrment A�rc�ment am��nt c.timatrd
l.ine 6 Ithrc�ujr,h c��mp��t.�nnn of pro�ec�r.d taa iitcrcmrnt in pru�rct arc:a
rs 2
Liur 7 Paymrni> madr w thr Ldu�.ttiu�wl Rc�cnur AuKmtntauuu } und.
PX 2
Line 8 Pr���cct cv��. and adm�n�,+ran�c ra{xn�i, of�pro�cct arca.
P�
l.iuc
PR
Linc
Pk
l,ine
�� �l.ine
�'R
I.inc
N�
I.inc
�'R
t.inc
r�
I.inr ( �t.iit.( l ��t.t�
?
� �
�S
c
5
!�
S
�
C
;
S
{�
��
)
t
�
�munnt
� S,"il-3 b�ll .
1.(• I '.14(1
I 1: �R..t�s_ ;
'.';�i.uc�U
Ei.utx,a-�>
1 d iti.litin}
��.x�) �.' 3c�}
i I.�II�.RR9�
tb�h.lk,i�
h�i..KX
t I ? I .��_'�1h
ht�.h? ;
��.��..5,� : i
1S? '�d
3 ,a' l �
:"._;,;.;�` .
i
( ( (
STATF.I�IF:NT OF INDEBT�DNF.S�- ('ONSOLII)ATFI�
FILED F()R THE 200(r2QQ7 TAX YF.AR
�arr�e �lRedevtlapm�nt A�enc}• Palm Desert Redevelopeunt Agency
I��me of Projrct Arca Projcct A�e� # 4
Balances Carried Fonvsrd From:
Fucal Period - TotAls
1(fiuunal)
Pust Fisc�el Ptriod • Totals
Graod
Totala
:�vailable Revenaes
Fn�n Catculation ot'.�vailable Revenuea. Lmc 7
Net
Rcquiremeaf
(Fram Forts� A, Pagc I Totals}
(From F�rm B Totals)
C'o��er Pa�e
C'ur�ent
Total Principal/toterest
Line Ouhtandiog Debt noe Durin� Tax ti'ear
( f )I S �24,56�,962 S 11,718.956
(2) S - S -
( 3) S 534,SG.;,962 S 1 I,71 R,9<G
( 4 ) S 3.106,014
( S ) S 521,�i57,')4x
Coe�olidatc on thi� torm ali nf the data costaieed oe Form A a�d B(incl�din� supplemeotal paRes). Ferm A is to inclade all iedebtedna
entered inEo �s of J�ne 3Q of t�e Fi.c:l Yur, Form B m�v be filed at ihe option of the aRency, aed is to iettude indebtedneas entere
�eto putt .lune 30 uf the Fiscal Ye:r. psrsuast to HaItY :nd S�tery (:ode Section 3367�(cx2). This b opNonst for esch a�ency a�d i.s not :
reyuiremeet for fllin� t6e Statcmeet of indebtednesa. The Recoeciliatioo Statement i� to incl�de indebtedness trom Ferm A ont
l'ernfication of Chief F inancul nf'ficer Paol S. GiMoe Finance DirMor
Pt�rsaartt to Sectior� 33b77i r�t uf the Hcelth and lafetv ('cxte. +t.,rnr T,��
I I�rreh� certify that the al�ove is a trur and accuratc Ststement � �'�j��
of Inc��btedness for the ��ve namcd aecnc�
• �8 � i rk
Rc��:v<
0
l
STATF;MENT nF iNi)FRTEDPIESS
EILED FOR THF: 2006-2007 TAX YEAK
Nrme ��f RcJcvelopment A�enc� Palm Descrt ltedevelopmeat A�coc�•
name of Prnject Area Projeet Are� N �
Fnr indebteeloess Eatered into as ei,luse 3a, 2006
wec �d�nex�csnon a�.
('nunri• (�eneral
(A� P�.�s-throu�h (est�mated! 07�19:9;
�(�l!lll� t.1�AtV
-(81 I'ass-throu�h cesumatedJ u7��9�93
� ('��unn Firc
�C� Pats-throu�h (estimated� 07114r'9�
�ID1 DS[,'SD Pas.c-thruu�h (csumsted► H7!19,h.
{f.► h('C[} Pus-throu h (eStimatai� 47/19/9.,
. Ri�erside C'ounN �chools
:(F) Psss-throu�h fcsttm�tcd) 07�19/9�
I
•((.� C'�'�1:�U Pass-throu&h Icsumucd� 07r19'9�
�({t} C'�'RPDPass-throu�hfc�timatcd� n1:i9N;
�( 1)('V W� PAss-through (at�muec!) �)1� 1 q�93
� ('\� Rc.courc� Pass-
�1� throu4h (cstimated) 1►7'19,h;
� ub � ow,
��
Thi� Px c
ota � onvud
E�rom A!I (kher Pa�cs
t,rl�nd
�Tntal.
Avs�lsbk Kevenues
From Calculation of'.���ailsble Revenuea
N tt
, itcquirement
Pwr}w�c of lodebtedress:
(A► Rner��Jr C'uunty p�ss-thn>u�h icstimxtcJ►.
(H► Ri�rrs�dc l au�h 1 ihrnn p��o-thmuRh IGtlimatcdl
(1 ) Ki�cn�dc C��unt� F irc pacrthraixh fc;sum�ucJ)
IDI nc.crt land� lin�fied Schex�i Ihatnct pa�a-thmugh (estim�led►.
{t:l I)c.crt l umtnanu� ( allc�tc {3�stn.t paia.Uuaugh {cctunated}
��,o�p.�
N��
N�A
N-A
N �,1
N �A
N�A
ti�A
r�A
v��
V �A
Orlpind D�ta
T�nn
(lpen
(�rn
�
c 7�,eo
c)pu�
c �,�,
( tpen
t �cn
�lhen
���
lnt�nst
RaOe
N-A
N1A
N�A
N�A
N%A
N�A
NiA
!r �A
N;A
N �A
Tofsl
Inbnat
N'A
N•A
N: ^
ti�n
`A
h�A
TJ�:1
N�A
NiA
N,A
f :
F'orm A
r�x� � �r i p:xG.
Cu�r+eM
Total PrinclpalAnt�nst
Oufatandlny O�bl Due DuMy Tu Y�at
124.I.�i.OQ7 2,17R.844
16,49R,3Q1 364.Q07
zS,;Si,iQ7 78U,016
88,SSQ,p47 1.953,708
18,40b.37i 4Q5 873
12,01 Z.9(�U _'65,044
6.646!)24 147,75G
1 t1.128,89(? 223.477
30.c2p.1�1 G73.�77
171.528 ;,7R4
S ;J?,47>.h72 S 6.�195.9Rh
S 1 R? OER.29U S J.72?,970
S �24,ib�,yh2 S II.'IR.9Sh
S ( ;, I I)6.014 �
S 511.d57,94li
(F') Rivrrside Couut� Scha�is pass-thruu�ti le+uma�;J).
1I:) ('��rchcll� Valic} tiicnqwtu Abatemcnt 1)ivtrict ps�-thrnu�tl� IcsumatcO)
(!f) C o;khrll� Vellcy Recreauun and Pa�ks vi�tnet pmwhruuKh fraUm.urd).
11) Coschell� Valley N'ater fhstrict pat.-dirt�udh (estimated}
(.1► l oachelly Vallr� Res�nirees px�s-throuErh (csumatcSl
( � (
STATF�iF NT ()F INi)EBTEDNESS
F'I[.FD FOR THF 2006-2007 TAX YF.AR
�ame or Rcr�e.�e�opm��� .��eecr . Palro Desert Redevelopment A�ency
`sme of Project Area Pro)eet Are� 8 4
Fo� IadeDtedae..s Estered intv as o( J�ne 30. 2006
�
� D�bt Id�ntlffe�tlo� D�Ie �Anclp�l
, l.ow and Mixlerate Ine:omc
=(A} lioustng Set-:�s�de 07r19N3 N,�
(t3) 1H 7557 F'eea u7;l9�yi N�A
1��R S I 1 O:fl.U00 l'at
([ ) .4lhxatwn Bond Issue c)z:YilN�t 11,020,OOQ
Rwers�Je C�unq� licalth and
'(i)) Juvcn�fc Fund 07r19'93 t�rA
Zcx)I Sl �.b4�.(N10 Tax
(F.� All�x;anon [iond Issuc I I%2Rro1 I�.695.00c1
S!i 2 I I Statuluty Paca Thniugh
(F) .\mount� (cstimatul} 0�37r0'� `i�1
-(G)
(�?
(�l
(J1
(k)
�� ►
_ Total
Thi�s�Pa�e
Pnrpo.e of IRdebtedne�:
(,�1 l ow �id �t�dcr:�te (lotu�n�t �et-As�dc t+rr Secttm 3�314.Z of Iiesllh R Safet� t'ude.
(R} S!� �t5� i ns
ft � 14�Jf� S I 1 A20.��00 f at .411u�aUnn HuaJ l+�ue.
(nl Ri�cr.�dc l'uurity flralih rnd )u�cndc i un�! pas,c-thrnttqh (est�mated)
(F.) :(Nlt S!S b9�.01� Ti�x AllocaUcwi Ef�xtJ In+ue
l?hliEatuu� under SR 211 Poi manJ�to�� pti�.-thrnngh
(F ) �muunl. i�� �nnuu. t�rtnit cnuUc>
Form A
r,e� 2 or z r.��
Oriylnal D�t� . . . . . . . . , . . . . - � . . _ . � — � Curnet � .
(nbnst ToUt Tota{ P►inclp�Hlnt��st
Ttrm R�e� InO�rwt Oubt�ndlny D�bt Du� OuNn9 Taz Y�ar
��+rM h�n h�n 1 17.8�t5,Q25 2.6U�).05 �
�'P�� y`.� h',� 7.3lli.bll Ib1.164
�o � MYo ti�
Yan S 2M. 11.534,529 17.2f,0.d? I 75k.759
(�pu� �l•� !:-A 9.76G.4F4 'SO.UUQ
+�� ? SO'et�
Ycvs S.tNM'. IS.q29.h9s ?7.OSS,�l20 �)�2,�4
c+p� �:� \:A ?,R56,i14.�0 _
S !R2„U88,290 S 4,722,97U
(C.1
(fn
(11
!JI
(K►
(i.)
( ( :
RECONCIL{ATION STATEMENT - CHANGES IN INDEBTEDNESS
Page 1 of 2 Pages
Name of Agency P�lm Desert Redevelopment A,�ency
Nsme ot Project Area Projeet Ara 1� i
Tax Year 2006-20Q7 R�concllistlon Datas: From July 1, 200b To Jun� 30, 2006
. - . . . •• —.--. , A . . :B. .. :_ .I C --• . - -,,. D . j � .
D�bt Id�rtMlcaUo�: Oudqndhq D�bt AdJusbn�nts Amounb Paid Aoeh�st
� SCi, p�0� and Hr»: Brief A� SMMniny InenssM D�er�uM Ind�bMdn�ss, trom:
Pe1w Yr Curr►nt Yr Desertptlo� Ind�AMdn�as (Attaeh ExpMnatlon) (Atlaeh ExpMn�Uon) T�Y Inenm�nt Oth�r Funds
r �� 1 PQ 1 County Generaf
,une A Lin� A Pacs-throuxh (cstimatcd) I47.867.818 21,SS7,667 2.ib7,l�t�1
'►y 1 Pq 1 C'ount� I.ihrary
Lhr B Lin� B 1'�ua-thruu�hletum:�ted} 19.y65,�5 ,�,12Q.�97 i�1,195
;�y , �9 t county F►rc
ltn� C uM C Pass.thruuy,h lcstimated} 42,�R0.8(34 G,888,2R2 7}9,015
.�� 1 PO 1
'ue» D Une 0 I)SI;SD Pas.�-thmuKh (�stimatedl IOe,031,77i 15,588,742 1,892,982
_'a � P� �
'Llw� E Un� E Qt'('D P�ss-throu�h �esumatc�d} 22,0�3,Uzt 3.239,301 3')3,355
�y � �p t Kivrrsidc Counry Sch�>als
��w� F Un� F P�.ss-throu�;h (ettimatedl 14.384,528 2,! Id,822 3�6,8t16
'�q 1 �p 1
'lin� G un� G('VMA() Pau-thrau�h (�timated) E,019,U66 1.178.978 143,1(ri
-Pp 1 Pp t
:llm H Line H C'YRPU Pass-thn�u�h (estimated} l2.128,�41 1,7E?,120 2IG,531
TOTAt•THtSPAGE 313,411,'S4 - 55,471.d09 6,156,192
TOTALS FOfewARD 241.624,124 �,422.140 17,814.0�M 5,45?.211 -
2 I 2.7A0.0(19
GIbINDTOTALS S 616,035.678 S 3,322,140 S 83,285,4ii S 11.60R,aU3 S - 5 524,�6z,96Z
NOTE: Cdumn A must pwl fh� Q�vious yw Stab�nMt of I�d�btadn�ss Oubt�ndi�s O�bt Cdum� F must pua[ this yNrs SOt Outstsndlnq Debt
cdumn. U�� the p�qe �nd Iln� numMr tMt tM IndNbdnws k IIsLd o� in eaeh y�ar aa �Pprop�l�t�, and a MI�( d�seriptlon. ly�ae any ind�btedewss
fuNy npafd in fh� phvious ytar, �s k Aad s z�no �rtdiny balanc�. All n�vr i�daW�dn�as �nhred Fnto since tM p�evlous SOI is to be Ifst�d
bNow tM pnvlova ind�Dt�dr�s. Enter "nw�I' In tM "Priw Yr" paq� and ifne column /or �ach nwv Ind�btaAn�ss.
, _... _ ....F-
R�rn�infny
B�tanp
(A+B�GD-E►
I 24.14 �,007
16,dQ$,3U?
iS,z�3.507
8R,SSO,W1
IA,400.375
1 ?.D l 2,Qlit►
G,G96.924
I 0. ! 28.R40
- 311.783,'JS:�
Rev 5�2�94
�
t
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS Psge 2 of 2 Pages
Name of Agency Palm Descrt Redevelopment AgeNcy
Nam� oi Project Area Project Ard *�
Tax Year 2006-2007 Reco�cit(ation Dates: From July 1, 2005 To Jun� 30, 2006
. . , _. . _..--...
; ^ . B } , C . .D -- �•—._ .E -- -._,..._....F --•-
I �
D�pt Id�ntMc�tlon: OutstarMi�o D�bt A�ustenNka Amounb ��Fd Aq�{n�t R�rn�inlnp
SOI, p�ps �nd NM: BrMt Al) d�yfnnin� (nen�W D�ehn�s Ind�bt�dn�ss. Aan: Ba{�nce
Peb� Y� Cwt�nt'!� Oa�ceippoa MMbbdn�as jAptch E:pMmtlo�} (Attach Expl�natbn) Tax Inene�w�t OtMr Fund� (Af8-G.�E)
�q t Pp 1
�ltm I un� I ('VWI) Pass-throuRh {esi�mated) 3b.SOS,8G0 5,3?.3,'_22 b52,447 3Q,52tl,i�l
��Q t Pq � ('V Resoiuca I'ass-
�lln� J lln� J Uvou�lt (e.cUnuted) ?(t5,;�? 10,IQ7 i.f�67 171,528
�p 2 Pq 2 l.ow and'�4odcrate fncomc
lim A L►ee A Housin� tiet-Aside 14i,081,456 20,717,l�14 3,S1R,2?7 � 17,Rd5 t>Z�
��9 Z P9 2
:l�x B t�m 6 SB 3557 Fees S,G.17,836 1.233,431 99.794 7,3U4,611
;�p 2 Pp ? 1�8 SI I 0?(1,Q00 Tax
�Lin. C Lin� C Alicx:auon Rond Issue 18,010,846 750.dIS �7,�b0,4;1
;�q 2►q 2 Riversidc ('ounty l�calth and
•Llne D Un� D lu�•cmlc Fund li?,266,489 SOO,U00 9.7b6.48y
i�y 2 Py 2 20Q 1 S I 5.h9�.lN►0 Tax
'L�n� E l�n� E Allucatwn Bo�td Issur 27,91b.245 RGU,a?5 ?7,(155.42Q
�
•�q New Pq ? SR ?i i Statutury Pass Through
.� � F Amount�{estrmateA) - 2,g56,?la '!.856.�1a
;�y New Py Project cucts and :ulministrative
Lkw L1n� expenses of project area - 4.967 4,41i7 .
:PQ New Pp Payments to the Educational
U�e uee Rcvrnut Augmeruatian fund - �6(�,859 SFO,$59 _
Pp Pp
Llrn Un�
Pp Pp
L�ne L1n�
TOTAL - 7HI5 PAdE ?42,624, I 24 3,412,140 � 27,814,044 I 5.452,Z 1 I` - 213,730,QQ9
NOTE: cd�m� � m�,.e.q�.� cn. pre„�o�s r..r Stst�en�nt of Indat�bd��ss OtRatandin9 ONn. Cdumn F must �qwl thls years 5d OubLnGfny D�bt Cotumn.
�
CALCULATION OF AVAILABLE REVENUES
AGENCY rVAME Pafm Desert Redevelopment Agency
pROJECT AREA Project Area # 4
TAX YEAR 2006-2007
RECONCILIATiON DA7ES' JULY �. 2005 70 JUNE 30, 2006
�
t Begmning Balance. Ava�lable Revenues
(See �nstruct�onsi
Adlustments Made after pr�or S�i fiied
2 Tax increment Rece�ved - Gross
All Tax increment Revenues. to �nciudmg any 7ax Increment
passed through to other locai taxing agencies
3 All other Ava�labie Revenues Recerved
iSee Instruct�ons)
4 Revenues trom any other sou►ce. mclu0ed
in Column E oi the Reconc�iiat�on
Statement, but not inGuded m 1� • 3) above
5. Sum of L�nes 1 through 4
6 Total amounts pa�0 agamst �npebtedness
�n prewous year (0 + E on Reconcrt�ahon Statement►
7 Avaiiable Revenues End of Year {5 - 6)
FORWARb THIS AMOUNT 70 STATEMENT OF 1NDEBTEDNESS
NOTES
) I � I z.'U7
c .
S l'h�5.y'�
� StL3.9�?
c .
� 1 �,' I s.a 1 "'
� 11.e,01�.a�� �
S 3. I 11b.0 I a
Tax Increm�nt Revenues•
The only amount(sj to b� �xclud�d as Tax Increm�nt R�v�nue sre any amounts passcd through to other loc�l tsxir►p
ag�ncl�s pursuant to H�alth and Satety Codt S�ction 338T6. Taz Incr�rr�ent Rev�nue set-ssfd• in th: low and
Mod�rat� fncome Housing fund w(!f b� wash�d in the abov� csfcutation, tnd th�ref�or omlttod trom Avaitable
R�venues at year �nd.
Item 4, abovt.
Th�s r+epresents any paym�nts from any source otF►�r than Tax Incnm�nt OR avaitable revenues for instanu an
sq�ncy funds � project wlih a bond issue. The previous SOI included a Disposition O�vebpment Apreement (DOA►
which was tulfy sao�fied with th�se bond proceedc. The DDA would bt �hown on the R�concil�ation Statam�nt
as tully repaid under th� "other" colum� (Col E�, but with funds that were r�elMsr Tax Increment. �r "Availabl� Revcnues"
as defined. Tht amounts us�d to sstisiy this DDA would be includ�d on line � above m order to accurately
determin� ending "Availsbk R�venues"
Nry I'� i:GA�
�
�
�
��c„��
Ni �>tri i 1i c•a
Rccoi�ciliation Ststcment - Uescription os,�djustments
Palm Desert Rcde�•elupmcnt :��enc�
Pr•oji�ct .\rea �+ �
Rrconcili�liuu — — � �`�--�--__ _ —• - - • — - -
Sbe�et ll��crriptian nf Adju.tmrnt
paKr aod linc:
py� 1 11rC�'c•.t�t tn p,��� Ihr��u�!h� �iur t<� gr�.��ttt asid rea�R�sn� caF, �r� m ��r�,�ec� a�re.
I.inc 1 Amuunt r�tims�cct thr��u}n cc�mputat�on of pr��,�rc�cd wr �ncrrmcn[ iit prulcct arca
P� 1 Urcrca:c �n p,i.. thrrugh� dur w gmuth anc� r�achmg cap �c� m proi�li �irea
Linc 2 :1m�uni r.i�m��trd ihro�gh ;,,mputet�on �,t pr�,�rc:trd iaa mrrrmcr.i ��� ��rujrci air.�
P� 4 I)rcrceK in pa.. �h��+uKh. dur �o �;�•o��th and ruzdirog cap .r� in proicc+ area
I in�• 3 .�mrunt r.i�matrd �h��u�:h �c��ttputat�un uf pru�r�trd ta� u�crrmc�tit in pru�rct aira.
P� 1 vecrca.�c in pa>� thn�ugh� duc t�� pro��91� and rrachrn� rap •ct in prn�rct ar��
Lint 4 aitiount r:timatcd thmu�!� cc,mputauon �f pro�rctcd ta� �ncremrn! in pro�r�t air.s.
P�; 1 Urcr�a,c m p;�.. �hr�,u�,h. dur to g�uwth and reacl�ing cap �rt in pro�rct area.
Linr 5 Amnunt r.t�matrd thruuRh �rniputatton at p�o�rc�ed ta� increment in pro�eit arca.
Nk 1 necrea�r m pa�> through� due to �r�a•tli and r�aching cap ��t m prn�ret nrra.
Line 6 ,�moum e:tim.�ted through c,�mput:+tion ut�pro�ected �ae �ncrrment in pro�rct :,rre
Pp 1 llc�rra.r m pa:: tmt�ugh. c�ur �o gr�n�th �nd re.�ch�ng cap.ri in proitrt arra
Liue 7 Amount r.trmetrd thruugh �oinputatirni uf pro�ccttd tYa m�r�mrnt in pro�cct arca.
P�; 1 l�rcrra�c in �a•. tnr�u�;h� clue to gr�+��•th and reachin�: ca}� .rt in projcct �+r�a
I.ine $ Amount c,nmated throuKh computation u1'pru�rc[ed ta� mcrement in pro��rt arca
P� 2 Drrrra�.� in pa�. iltt.�ugh. duc ro gruwlh end re:�rhsng cap �rt in proirct arra.
}.tOc � I1n7JtJ7>! Cy111R,fiCl} i}7Tf�ll�h ��,,,,�,u��+�rn„ t>r ��,c�frcird z.�a �r�itrmrnt �n t»n�rrt �1r.t.
P� 2 Urcrra�r in pa�> thr�>u�;h. dur to �;rrn� th and reacfimg cap set in pro�ect area.
L.ine Z Am�uni r�umaced th�ruuy�h cnmputat�un of pro�tcted t:n incrcmcnt ui projrrt nrea.
P� 2 Dr�rcac� in Lo�� and i�l�cierat� 5t+-aad�. Amnunt rstimated thrc,u�h
Line 3 computanon uf psujec:trd wr mcrenxnt sa prcifrct :uea.
P� 2 L)r.rra.c �n tiR ?�57 1'rr.. Amount ha. bmi r.timnhd thfough
Line d rumputaurn� uf proirctcd i�t� �niremmt �n proj��ct erre
Pt 2 I)rcrca.c �n pa>• thraugh> du� �o Qn,w th and r�achinF car .ct in pro�cct arra
Line 6 Amuunt es�imated through �•umputaurni ul Gx���ectrd tax incrrmcnt in pro�tci arca.
PR 2 Incr�.�:e �n a.mrtory ��s.. d�ruugh ��rcement Agrrcm�m amount �.nmated
l.ine 8 thi��ugh cumputaunn ot rro��rted �ax �ncrcmerrt �n proicc;� arre.
f'� 2
Line 9 Yroicrt �oct� and admini:trati�e �xpcn:c> of rrci�r�•t atr3
Pg 2
Linc 10 kr�x�it ua)mrnt. a� l.Jurei,rnal Kr.rr�ur Augm�ucaiion I•urid
PA
�.�o�
PA •
I.ine
t'¢
t.ine
PR
l.inr
Pg
I.inc
Qx
Liur
r,c
i.inr _ c�r,�nd i.�c.s_ . _ _. . . . . --- -- •-
Aenount
� � (:1.557.b6'}
� 3 (?.l?�).49�)
S (G.8RQ.282)
S � E �.�XY.�J_')
5 1;.'39.:01)
S (�.tf4,X�?1
S �1.1�8.9�R)
S (I.'K.i.l?tl)
S
�
S
5
r �. � �.i,?�: )
1 �U.ly� '
�zu.�l �.t���
(I.�;i.s;{1°
IS
�
�
S
f
I SG1),UUU}'
's�ir, ;�a
4,�h�
ShU R�') �
---- --_ . _ � ? . _ , �-,;_;:�''.:�.' _�b
�� .
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
REDEVELOPMENT AGENCY ANNUAL HOUSING ACTIVITY R�PORT
FY ENDING: 06 /_�Q_/_�.�
Agency Name and Address:
�- Palm Desert Redevelopment Aaencv
73519 Fred WarinQ Dr�ve
Palm Desert� CA Q226f1
�
County ofJurisdiction:
Riverside
Health & Safery Code Section 33080.1 requira agencies (RDAs) to annually repon on their Low & Moderate lncome Housin¢ Fund and
housin¢ activities for the Department of Housing and Communiry Development (HCD) to report on RDAs' activities in accordanct with
Section 33080.G. ,
Please answer each auestion below. Your answers determine how to complete the HCD report.
I. Check one of the nems below to identify the Agency's status at the end of the reporring period:
❑ New (Agency formation occurred durinA renonina vear. No financial transactions were completed).
� Active (Financial and/or housing transactions occurred during the reporting year)
❑ Inactive (No financial and/or housin¢ nansactions occurred durin¢ the renortin¢ vear). ONLY COMPLETE ITEM 7
❑ Dismantled (Agency adopted an ordinance and dissolved itself before start of reporting year). ONLY COMPLETE ITEM 7
2. Dunng reoortin¢ vear, how many adopted proiect areas existed? 4 Ofthese, how many werr mereed durinQyear? �
If the agency has one or more adoated �roiect areas, comolete SCHEDULE HCD-A for each vroiecx area.
lf the agency has no adooted nroiect areas. DO NOT comnlete SCHEDU�.E HCD-A (rcfer to next auestionl.
3. Within an area outside of any adopted project area(s): (a) did the agency destroy or remove any dwelling units or displace any
households over the reporting period, (b) does the agency intend to displact any households over the next reporting period, (c) did
the agency permit the sale of any owner-occupied unit prior to the expiration of land use controls over the reporting period, and/or
(d ) did the.agency execute a contract or agreement for the construction of any af%rdable units over the next two years?
❑ Yes �any question). Complete SCHEDULE HCD-B.
�j{ No (all questions). DO NOT complete SCHEDULE HCD-B (refer to nezt question).
4. Did thc agency's Low & Moderate Income Housing Fund have any asseu during the reporting period?
� Yes. Complete SCHEDULE HCD-C.
❑ No. DO NOT complete SCHEDULE HCD-C.
5. During the reporting period, were housing uniu comoleted within a nroiect arc,� and/or assisted bv the agencv ouuide a nrojsct area?
�L Yes. Complete all applicable HCD SCHEDULES Dl-D7 for each housin�proiect comnl�t�d and HCD SCHEDULE E.
�, No. DO NOT complete HCD SCHEDULES Dl-D7 or HCD SCHEDULE E.
G. S cify whether method A and/or B was used to report financial and housing activiry information to HCD:
� A. Forms. All requircd HCD SCHEDULES A, B. C, D1-D7, and E are attached.
�C B. On-line (http://,v�v�v.hcd.ca.gov/rda/) "Lock Report" date: . HCD SCHEDULES not reauired.
(lork date is shown under "Admin " Area and "Repnrt Change History')
7. To the best of my knowledge: (a) the representations made above d(b) agency information rcported are correct.
Date Signature o Au oriu ency Representative
Executive DiI'e�'tr+r
Title
(7601 346-0611
Telephone Number
• IFNOT REQU/RED TO REPORT, SUBMITONLYA PAPER COPYOFTH/SPAGE.
• /F REQU/RED TO R£PORT, AND READRT/NG BY US/NG PAP£R FOR,NS (IN PUCE OFREPORTING ON-LlNEJ, SU8�1AT
THIS P�GE M'D ALL APPL/CABLE HCD FORMS (SCHEDULES A-E) WITH A COPY OFAGENCY S AUDIT.
• /F REPORT/NG ON-LINE, PRlNT AND SUBM/T "CONFIRM.lTlON LE7TER" UPON LOCKING REPURT
• MAlL A COPY OF (o) CONF/RMATION LE7TER (/F HCD REPORT WAS ELECTRON/GLLY FILED) OR (b) COMPLETED
FORMS.!lVD (c).� UD/T REPORT TO BOTH HCD AND THE SCO_
Departn�ent of Housing � Convnunity Devdopnr�nt
Division ojHousing Policy
Rerlevelopment Section
/800 3"� Street, Suue �.i0
Sacrvmento, C.4 9S8/�
The Slatt Con�roUtr
Division of Accoanting and Re�orting
Loca/ Government Rrporting Stcrion
330/ C Sbtet SWitt S00
Sacramento, CA 938/6
Redevelopment Agency Annual Repon- Fiscnl Year 2005-2006
Corrr (�/IU(k�)
NCD-Cover
Page 1 0( I
� Cafifornia Redevelop� Agencies - Flscal Year 2005/T006 (
Status of Low and Moderate Income Nousing Funds
Sch C Agency Flnancial Summary
PALM DESER7 RDA
AdJusted ProJect Agency Net Other Total ' Unen- Unen- Unen-
Beginning Area Other Tota/ Resources Housing Housing Encum- cumbered cumbered cumbered
Balance Receipts Revenue Expenses Available Fund Assets Fund Assets brances Balance Designated Not Dsgntd
531,689,281 522,285,362 51,336,661 529,497,478 525,813,826 a8,048,718 533,862,544 312,134,040 513,679,786 513,679,786 SO
Expenses Debt Service Housing Housing Maintenance of Planning and Preservatlon of At- Property Subsidies
Construction Rehabilitation Mobilehome Parks Administration Risk Uniis Acquisition
' � � Costs , ,
2005/200� 54,167,691 � 510,744,069 � 5502,425 , S2,551 � 51,555,495 559,945 512,403,690 i 561,612 :
_ 1 _ _ I . . " . _ _ _ � _ � - . - '
Page 1 of 2 12/21/06
California Redevelop� . A�encies - Flscal Year 2005/2006
Status of Low and Moderate lncome Housing Funds
Sch C Agoncy Flnancial Summary
PALM DESERT RDA
AdJusted
Beginning
Balance
Tota!
529,497,�78 '
Agency Net Other TotaJ
Other Total Resources Housing Housing Encum-
Revenue . Expenses Available Fund Assefs Fund Assets brances
"The Unencumbend Ba/snce !s equa! to Net Resources Avallab/o minus Encumbnnces
Note: Print th/s report in Landscape Orient�fion (Use the Print lcon Jus! above, then Properties then LandscipeJ
Page 2 of 2 !2/21/06
� `
• Unen- Unen- Unen-
cumbered cumbered cumbered
Balance Designated Not Dsgntd
Ca/ifornia Redevelopment Agencies - Fisca! Year 2003/2006
Status of Low and Moderate Income Housing Funds
Sch C Agency Financia/ and P�ogram Detall
PALM DESERT RDA
�
`.
Beginning BalancQ 531,689,281
Adjustment to Beginning Ba/anct SO
Adjusted BegJnnJng Balance 531,689,Z81
Total Tax Increment From PA(s) 515,404,798 %tal Receipts fiom PA(s) 522,285,362
Other Revenues not reporied on Schedule A 51.336,661
Sum of Beginning Balance and Revenues 555,311,30I
Expenditure � `
Item Subitem
Debt Service
Debt Principal Payments Tax Allocation, Bonds & Notes
interest Expense
Subtotal of Debt Sorvice
Housing Constructlon
Subtotal of Housing Construction
Housing Rehabilitatlon
Subtotal of Housing Rehabilitation
Maintenance of Mobilehome Parks
5ubtotal of Malntenance of Mobllehoma Parks
Amount RQmark
$1,390,000
32,777.691
54,167,691
E10,T44,069
510, 744,069
3502,425
5502,423
52,551
s2,ss�
P/anning and AdminlstratJon Costs
Administration Costs a1,084,141
Professional Services 5471.354
Subtotal of Plannlnp and Adminlstratlon Costs 51,335,495
Page 1 of 4 12/21/06
,
California RedQvelopment Agencies - Fiscal Year 2005/2006
Status of Low and Moderate Income Housing Funds
�� .; Sch C Agency Financial and Program Detall
PALM DESERT RDA
ti-
Expenditure
Item Subitem
Preservation ofAt-Risk Units
Subtofal of Preservation of At-Risk Units
Prope►ty Acqulsitlon
Land Purchases
Operation of Acqwred Property
Other
Real Estate Purchases
Subtotal oi Property Acquisition
Amount RQmark
I �
359.945
559, 94S
$4,614,027
$6,866,482
316,745 ADDTL REC 05/06
5906,436
512,403,690 �
Subsidles from [he LMlHF �
Other 357,243 HOME IMPROVEMENT
PROGRAM �
Rental Subsidies 34,369 �
Su6total of Subsldles lrom the LMIHF 561,612
Total Expendltuns 529,�47,�78
Net Resources Ava/labl� s25,813,826
Indebtedness For Setasides Defemed SO
Other Floosing Fund Assets
Category Amount RQmark
Loan Receivable for Housing Activities 57.9�2,37�1
Other 581,344 MISC RECEIVABLEJDIJE FR OTHE _
GOVT
Value of Land Purchased wfth Hous/ng Funds 525, 000
Total Other Housing Fund Assets 58,048,718
Total Fund Equity 533,862,544
2001/'2002 S905T701
2002/2003 510049969 sum of 4 Prevlous Years' Tax 'rior Year End/ng Un�ncum Excesa Surplus }br
2003/Z004 511198955 Increm�nt for 200Y1006 200Y1006
Page 2 of 4 12/21/06
California Redeve/opment Agenc/es - Flscal Year Z005�/2006
Status of Low and Moderate Income Housing Funds
Sch C Agency Financial and Program Detall
PALM DESERT RDA
�
200�/2005 512402801 5��709�Z6 520,190,982
Sum of Current and 3 Previous Years' Tax Increments
AdJusted Balance
Excess Surplus for next year
Net Resources Available
Unencumbered Designated
Unencumbered Undesipnated
Tota/ Encumbrances
Unencumbered 8alance
Unencumbered Balance Adjusted tor Debt Proceads
Unencumbered Balance Adjusted for Land Sales
Excess Surplus Expenditure Plan
Excess Surplus P/an Adoption Date
v Site Improvement Activities 8ene�ting Households
Income Level Low Very Low Mod�nM
Land Held for Future Development
Site Name Num Of Zoning Purchase �stimated
so
549,056,523
512,142,541
so
525,813,826
513,679,786
so
512,134,040
513,679, 7B6
51,049,449
5487, 796
No
I
Total �
Acres Date Start Date Rema►ic
SINGLE FAMILY LOTS 1.48 RESIDE 05✓12/2005 07/01/2009 14 POTENTIAL LOTS
NTIAL �
Use of the Hausing Furtd ta Assist Mortpa�ors
Income Adjustment Factors Requirements Complet�d �
Home S Hope I S
Non Housing Redevelopment
Funds Usage - - — — � - -- -
�
�
_.�
�
Resource Needs _ _ _ _ _ _ _ �
Page 3 of 4 12/21/06
�� .
.
�
Callfornla Redevelopment Agencies - Fiscal Year 2005/2006
Status o1 Low and Moderate Income Housing Funds
Sch C Agency Financial and Program Detall
PALM DESERT RDA
LMIHF Deposits/Wlthdrawls �
Document
Name
ACCOUNT ACTIVITY
Achievements
DescrJption
Document
Date
30-JUN-06
Custodian Custodian
Name Phone
FlNANCE (760) 3<6-0611
DEPARTMENT
Page � of �
1?/21/06
Copy
Sourc�
CITY HALL
CaNfornla Redevelopment Agen� Fiscal Year 2005/2006
Project Area Contributions to Low and Moderate lncome Housing Funds
Sch A Project Area Summary Report
PALM DESERT RDA
Project Area 100% ol Tax
. Increment
PROJECTAREA 1 ORIGINAL 545,766,926
6 ANNEX
PROJECT AREA 1 515, 218, 315
PROJECTAREA 3 s3,442,565
PROJECTAREA N0. 4 512,596,184
20•/. Set Aside Tax Increment Amount
Requirement Allocated Exempted
59,153,385 59,153,385 SO
53,043,663 53,043,663 SO
5688,513 5688,513 SO
SZ,519,237 52,519,137 SO
Deferral
Tax Incr.
Deposited to
Hsng Fund
59,153, 385
53,043,663
5688,513
S2, 519, 237
Agency Totals: s77,023.990 St5,�0I,798 515,401,T98 SO
so
SO
so
SO
SO
Percenl
of Tax Repayment
Incr Dep Defenals
20.00% SO
20% SO
Zoi so
zo.00i so
Other
�ncome
S6, 880, 564
SO
so
so
�
Total
Deposited to
Housing
316, 033, 949
53,043,663
sss8,513
52,519,237
515,404,798 20•/. SO 56,880,554 522.285,362
Note: P�l�t thls roport 1n Landscape OrienhUon (Us� ths Print Icon Just abovs, thsn PropsrNes then Landscap�)
Page 1 of 1 1?/21/06
� �
Cali/omia Redevelopment Agencies- Fiscal Year 2005/2006
Project Area ContrlbuUons to Low and Moderate Income Housing Fund
Sch A ProJect Area Financlal lnformation
�'" Agency PALM DESERT RDA
Address �3-510 Fred Warin� Drive
Palm Desert CA 92?60
�ProjectArea PROJECT AREA 1 ORIGINAL b ANNEX
Type: Inside Project Area Status: Aciive
Plan Adopdon: 1975 P/an Expiration Year. ?016
�
Gross Tax Calculated Amount Amount Amount Total %
/nc►+ement Deposit AUocated Exempted Defe�red Depos/ted
545,766,926 59,153,385 59,153,385 SO SO 59,153,385 20.00'/.
Repayment s0
Category
Interestlncome 5940,766
Loan Repayments 5127,297
Other Revenue t586,8�t3
Rental/Lease Income 54,737,860
Sale of Real Estate 5487,796
Total Additlonal Revenue 56,880,564
Total Houslnq Fund Deposits for ProJect Area 516,033,9�19
Projact Ar+ea PROJECT AREA 2
Type: Inside ProjQct Area Status: Active
� Plan Adoption: 1987 Plan Expiration Year. 2028
Gross Tax Calculated Amount Amount Amount
Increment Deposit Allocatad Exempied DefQrred
515,218,315 53,043,663 53,043,663 SO SO
Repayment
Category
Total Additlonsl Revenue
Total Housinp Fund Deposits for ProJect Area
- - - - - - �
CumulativQ
Del.
:o f
Total •/. CumulaUv�
Deposlt�al DQf.
S3, 043, 663 20'/. i0
f0 I
�
SO �S3, 043, 663
I
�
Page 1 of 2 12/21/06
Cal!lorn/a Redeve/opment Agencies- Fisca/ Year 2005✓2006
Project Area Contrlbutlons to Low and Moderate Income Housing Fund
Sch A Project Area Financial Information
�
Project Area pROJECT AREA 3
Type: Inside Project Area Status: Aciive
Plan Adoptron: 1991 Plan Expiration Year. 203Z
- - - - - i
Gross Tax Calculated Amount Amounr Amount Tobl % CumulaUvQ
lncrement Deposit ANocafed Exempted Delerred DQposll�d D�l.
S3,4t2,565 3688,513 5688,513 SO SO 5688,513 20Y• SO ;
Repaymenf SO �
�
Category
i
Tota/ AddrUona/ Revenue ,i0
Total Housin� Fund Deposits for Project Area 5688,513
Project Area PROJFCT AREA NO. 4
Type: lnside Project Ar+Qa Status: Actfve
Plan Adoption: f 993 Plan Expiration Year: 2034
.�
Gross tax Calculated Amount Amount Amount
Increment Deposit Allocated Exempted Deferred
512.596,18� 52.519,237 52,519,237 SO SO
Repayment
Category
Tota! Addltional Revenue
Total Housln� Fund Deposits for Project Area
Total •/,
DeposJtod
52,519,237 20.00'Y•
SO
so
52,519,237
Agency Totals For All Project Areas:
Gross Tax Ca/culated Amaurtt Amounr Amouni Tohl
Incremfnt Deposlt Allocated Exempted Deferred pePoskd
577,023,990 515,404,798 515,404,798 30 SO 515,404,798
Total Additiona/ Revenue irom Project Anas s6, 880, 564
Tota! Deferral Repayments SO
1"otal Deposft to Hous(ng Fund trorn Project Areas. s22,285,362
%
zai
!
�
I
Cumulitiv��
D�f.
:0
I
Cumu/ativ�
af
so
Page 2 of 2 12/21/06
Callfornla RedQvelopment Aqencies - Fisca/ Year 2005/2006
Sch A/B Project Area Program Information
PALM DESERT RDA
,_...,ject Area pROJECT AREA 1 ORIGINAL 8� ANNEX
� UNITS LOST
Very Low
Raportlng Period: Current
� Redevelopment
Category Bedrooms Lost - Required to be Replaced 0
Category Househoids Removed - Non Elderly 0
: FUTURE UNIT COIVSTRUCTlON
Estimated
Execution CompleUon
Contract Nsme Date Date
, FALCON CREST SFH 06/30/03 t2/31/08
LA ROCCA VILLAS 06/30/03 i2/31/08
� PALM VILLAGE APTS 06/30/03 � 2/31/06
, OWNER-OCCUPf ED UNI TS
Report Year Amount
ISales: 2005/2006 $43.434
�
Page 1 0/ 1
Low Mod�nto Above Tohl
Moderat�
0 2 0 2
0 1 0 1
Very Low Low Modente Total
0 0 93 93
13 14 0 27
18 18 0 36
Very Low
— � --
12/21/06
� '
Low ModeratQ Total
1 0 3
CalJfornla Redevelopment Agencies - Fiscal Year 2005✓2006
Sch D General Project Informatlon
PALM DESERT RDA
w
Project Area Name: pROJECT AREA 1 ORIGINAL 8 ANNEX
ProJect Name: Habitat for Humanities
Address: Palm Deseri 92260
UNIT INVENTORY - - - � � -
Very �ow Low Moderate Above Mod Bocam� Tohl i
In�1181b10
Other Provided with LMINF
Unit
Non-Substantia/ Rehabllitation �
Non-Agency Owner Non-Elderly 1 0 0 0 0 1 �
Unit Total t 0 0 0 0 1
�PROJECT FUNDING SOURCE - - - - - - " -
Funding Source Amount '
Redeve/opment Funds 3235,186
- - -- -- - -- — �
Project Name: Home Improvement Program
Address: Varlous Palm Desert
Owner Name: Various
~ UNIT INVENTORY - - - I
Very Low Low Moderate Above Mod B�carrn Tohl
Ineliglbl�
Other Provided with LMIHF
Unit I
Non-Substantial Rehabilltation
�IVon-Agency Owner Non-EldeNy 4 1 1 0 0 6
Unit Total a 1 1 0 0 6
,PROJECT FUNDING SOURCE - - - - - - -
Fundinp Source Amount �
Redevelopment Funds 334,346
Federal Funds 350, 776
Project Name: Housing Authority Rentals I
Address: various addr+esses Pelm DesQrt
PROJECT FUNDlNG SOURCE -
Funding Source Amount I
Redeve(opment Funds 55.556,791 _ J
Page 1 of 6 12/21/06
�
.;
Califomla Redevelopment Agencies - Fiscal Year 2005✓2006
Sch D General Project Information
PALM DESERT RDA
_ ProjectArea Name: pROJECT AREA 1 ORIGINAL 8� ANNEX
Pro/ect Name: Laguna Palms
Address: 73875 Santa Rosa Way Palm Desert 92260
Owner Name: Palm Desert Redevelopment Agency
PROJECT FUNDING SOURCE
Funding Source Amount
Redevelopment Funds 5426,294
Project Name: New Single Family Const
Address: Palm Deseri
' Owner Name� Various Outside Developers
�NONASSISTED PROJECT UNITS
Category vlow /ow mod amod Bullding Permit Number
New Construct�ons 0 0 0 51 VARIOUS
ProJect Name: One Quail Place Rehab
Address: Palm Desert 92260
PROJEC7 FUNDING SOURCE
` Funding Source
Redevelopment Funds
Project Nama: palm Village Apartments
Address: 73-610 Santa Rosa Way Palm Desert 92260
Owner Name: Palm besert RedevelopmQnt Agency
PROJECT FUND/NG SOURCE
Funding Sounce
Redevelopment Funds
Amount
$507,125
Amount
E3,939.215
8uilding Permli Date �
30-JUN-06
�
- --- I
I
I
Page 2 of 6 12/2i/06
California Redevelopment Agencies - Fiscal Year 200Y1006
Sch D Genera! Project Information
PALM DESERT RDA
Project Area Name: PROJECT AREA 2
` . -
Project Name: New Unit Construction
Address: various
Owner Name: Various
NON ASSISTED PROJECT UNITS
Category vlow /ow mod amod
New Construct�ons 0 0 0 28
Building Permit Number
VARIOUS
Bullding Permlt Date
30-JUN-06
`.
Page 3 of 6 12/21/06
Cal!/ornia Redevelopment Agencies - Fisca/ Year 2005/2006
Sch D Geiieral Project Information
�' • PAI_M DESERT RDA
�
ProjectArea Name: PROJECT AREA 3
Project Name: Falcon Crest SFH
Address: Palm Desert 92260
PROJECT FUNDING SOURCE
Funding Source
Redevelopment Funds
ProjectName: Home Improvement Program
Address: various Palm Desert
Amount
36, 056.320
UNI T 1 NVENTORY -
very �ow Low Moderete Above Mod Becam� Totsl
InQli�Ible
Other Provided with LMIHF
Unit
Non-Substantial Rehabilitation
Non-Agency Owner Non-E�deriy � �
Un/t Total �
PROJECT FUNDING SOURCE
Funding Source
Redevelopment Funds
Federal Funds
� — - --
Project Name: �a Rocca Villas
Address: Palm Desert 92260
PROJECT FUNDING SOURCE
Funding Source
Redeve/opment Funds
1 0
t 0
Amount
S5, 724
38, 463
Amount
$748,533
0 0 1
0 0 1
�
�
Page 4 of 6 12/21/06
Cali/ornJa Redevelopment Agencies - Fiscal Year 2005✓2006
Sch D Ge��eral Projec! lnformation
PnLM DESERT RDA
� Project Area Name: pROJECT AREA NO. 4
Project Name: Country Club Estates/CA Villas I
Address� 77f07 Cali/ornia Drive Pelm Deseri 9221 f �
Owner Name: Pafm DeseR Redevelopment Agency �
PROJECT FUNDING SOURCE - - - - - - -
Funding Source Amount
Redevelopment Funds $868,447
Project Name: Country Village Apartments
Address: palm Desert 92260
UNIT INVENTORY - - - - - - - - - - -
Very �ow Low Moderate Abovs Mod Boc�rrH Tobl �
Inellplb/e �
Other Provided wiih LMIHF
Unit
Substantial Rehabilitation
Agency Renta� Non-E/derly f>� 0 0 0 0 66
Unit Tota! Gf 0 0 0 0 66
PROJECT FUNDING SOURCE - - - -
Funding Source — Amount _ �
" Redevelopmern Funds S4, 624, 719
ProJect Name: Habitat for Humanities
Address: Pa/m DeseR 92260
PROJECT FUNDING SOURCE - - -
Funding Source Amount
Redeve/opment Funds $20,208
Page 5 of 6 1?/21/06
California Redevelopment Agencies - Fisca/ Year 200Y1006
Sch D Genera! Project Information
'' � PALM DESERT RDA
�
Project Area Name: PROJECT AREA NO. 4
Project Name: Home Improve Program -�
Address: Citywide �
�UNI T I NVENTORY - -
Very r.ow Low Moderate Above Mod Became Total �
InefJgfble I
Other Provided with LMIHF
Unit
Non-Substantlal Rehabllitation
Non-Agency Owner Non-Elderly :;
Unit Total �
PROJECT FUNDING SOURCE
Funding Sou�ce
Redevelopment Funds
Federa/ Funds
Project Name: New Unit Construction
Address: various
Owner Name: Various
NON ASSISTED PROJECT UNITS
� Catepory vlow !ow mod amod
New Constructions 0 0 0 6
Page 6 of 6
0 0 0 0
0 0 0 0
Amount
$17.173
325, 388
3
3
I
�
Building Permit Number Bulldlny Pormlt Dat�
VARIOUS 30-JUN-06
12/21/06
❑
SCHEDULE HCD E
CALCULATION OF INCREASE IN AGENCY'S lNCLUSIONARY OBLIGATION FOR ACTIV/T/ES
(This Form is Information Only: Actual Obligation is based on Imp/ementafion P/an)
�
Report Year: 200512006
Agency: PALM DESERT RDA
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
PARTI
[H 8 SC Sect�on 33d13(b)(1)]
AGENCY DEVELOPED
1. New Units p
2. Substantialiy Rehabititated ilnits p
3. Subtotal - Baseline of Units (add line 1 8� 2) p
4. Subtotal of Inclusionary Obligation Accrued this Year for Units (line 3 x 30%) p
5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Units (line 4 x 50%)
PART II
(H S SC SeCt�on 33413(b)(2)j
NON-AGENCY DEVELOPED UNITS
6. New Units
Substantially Rehabilitated Urnts
�a. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un�ts (�ine 8 x 15%)
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%)
PART III
TOTALS
0
85
0
85
13
5
11. Total Increase in Inclusionary Obligations During This Fiscai Year (add line 4& 9) 13
12. Total Increase in Very Low Income Units Inclusionary Obligations During This Fiscal Year (add line 5& 10) 5
Cwearrw Rw�v�bOR�n� �qenu�s . c,fu� Ye�� 700y2006
SUrauyE �11i011
'ToU�t m�Y Df'�qq�tl Dr �ou�bry
12/21/2006
Pau` 1 of 1
'� ,; SCHEDULE HCD E1
CALCULATION OF 1NCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only: Actual Of�ligation is based on Implementation P/an)
�
Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: BUILDING HORIZON
NOTE: This form is a summary of the totals of ali new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a��roject area by any entity (agency or non-
agency). �
PARTI
jH d SC Section 33413(b)11)]
AGENCY D[VELOPED
1. New Units p
2. Substantially Rehabilitated Units p
� 3. Subtotal - Baseline of Units (add line 1 8� 2) p
I 4. Subtotal of Inclusionary Obliqation Accrued this Year for Unns (line 3 x 30%) 0
j 5. Subtotal of Inclusionary Obligation Accrued this year for Ve, ��-Low Income Units (line 4 x 50%) 0
�
PART II
�H 8 SC Secbo�� s3413(b)(2)]
NON-AGENCY DEVELOPED UNITS
�.. ��ew Units
� 7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un�is (iine 8 x 15%)
�
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for very Low Income Units (line 9 x 40%) 0
PART fll
TOT/1LS
11. Total Increase in Inclusionary Obligations During This Fisc�i Year (add line 4 8� 9) I 0
12. Total Increase m Very Low Income Units Inclusionary ObliQations During This Fiscal Year (add line 5 8� 10) �
C�darw R�wrdoo�*��rn Aq�nues ���su� �ea� 1005Q006
Sc�wdieE �>>i0�)
'ld�ia m�Y b� �mp�a[tl or'a,na�nq
� ZZ � �2��6
Pagc �i of 27
SCHEDULE HCD E1
CALCULATION OF /NCREASE /N AGENCY'S INCLUSIONARY OBLIGAT/ON FOR ACTIVITIES
(This Form is Jnformation Onfy: Actual Obligation is based on lmplementation P/an)
�
Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: HABITAT FOR HUMANITIES
NOTE: This form is a summary of the totals of all new construction or substantial rehabfUtation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
PARTI
�H 8 SC Secuo�� s3413(b)(1)]
AGENCY DEVELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8� 2) 0
4. Subtotal of Inclusionary Obliqation Accrued this Year for Un��s (I�ne 3 x 30%) 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ver,,-�ow Income Units (line 4 x 50%) 0
PART II
[H & SC Section 33413(b)12)j
NON-AGENCY DEVELOPED UNITS
New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un��s (i�ne 8 x 15%)
�
�
10. Subtotal of Inclusionary Obligation Accrued this year tor Very �ow Income Units (line 9 x 40%) 0
PART III
TOTnLS
11. Total Increase m Inclusionary Obligations During This F�sc�l Year (add line 4& 9) 0
12. Total Increase in Very Low Income Units Inclusionary Obl�c»t�ons Durmg This Fiscal Year (add line 5 8� 10) I 0
C�iApm�� Rp�v�ioprn�nt Aq�nG�l � Fqu� �ea� 70054006
Stlyd�e E It ti0t )
'idi�s rn�y W mD�Q�O bY rp�n0�rp
12�2� �ZOOV
Page t ot 27
,� , SCHEDULE HCD E1
'' CALCULATION OF INCREASE /N AGENCY'S lNCLUSIONARY OBLIGAT/ON FOR ACTIVITIES
(This Form is Information Only: Actual Uf�fiqation is based on Implementatfon P/sn)
�
Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL 8 ANNEX
Project: HOME IMPROVEMENT PROGRAM
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
PARTI
�H � SC Secbon s's413(b)(1)j
AGENCY D[VELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Year for Un��s i��ne 3 x 30%) 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ven�-Low Income Units (line 4 x 50%) 0
PART II
�H 8 SC 5ecl�on s3413(b)(2)]
NON-AGENCY D[VELOPED UNITS
New Units
�`7. Substantially Rehabilitated Units
� 8. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotal of Inclusionary Obligation Accrued this year for u���i� �iine 8 x 15%)
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for Very �ow Income Units (line 9 x 40%) 0
PART (II
TOTnLS
11. Total Increase in Inclusionary Obligations During This F�scal Year (add line 4 8 9) 0
12. Total Increase in Very Low Income Units Inclusionary Ob��n�t�ons During This Fiscal Year (add line 5 8 10) �
G��a+��� RW�r�iopm�nt Ap�no�a ���scai ve�� 70pSr1006
Scrrdu4 E 1 t 1�0 t 1 .
'ipylf ��Iy b! �mp�d�0 Dy �W�tl��q
� v2� i2oos
Paqc 's ot 27
SCHEDULE HCD E1
CALCULATION OF INCREASE /N AGENCY'S fNCLUSIONARY OBLIGAT/ON FOR ACTIVITIES
(This Form is Information Only: Actual ut,ligation is based on Implementation P/an)
�
Report Year: 200�/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: HOUSING AUTHORITY RENTALS
NOTE: This form is a summary of the totats of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a c�roject area by any entity (agency or non-
agency).
Pn�<T t
�H & SC Secm � .,SQ � 3(b)(1)J
AGENCY DEVELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8 2) p
� 4. Subtotal of Inclusionary Obliqation Accrued this Year for Un�is ll�ne 3 x 30%) 0
� 5. Subtotal of Inclusionary Obligation Accrued this year for Ve� l�-Low Income Units (line 4 x 50%) 0
PAf1T II
[H 8 5C Secno�� ssa �3(b112)j
NON-AGENCY DEVELOPED UNITS
New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6& 7)
' 9. Subtotal of Inclusionary Obligation Accrued this year for Un�is �I�ne 8 x 15%)
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for Ve� �- �ow Income Units (line 9 x 40%) 0
PAFl � ill
TC'��,�i_S
11. Total Increase in Inclusionary Obligations During This F�sc;�� Year (add line 4 8 9) � 0
12. Total Increase in Very Low Income Units Inclus�onary O�I�c.;,t,ons Dur�ng This Fiscal Year (add line 5 8� 10) �
CyAomi Rs0lrMop�M� �q1�+Gn � F.y�ai VN� 7005r1006
su�.a,�. e n vot �
•ia��s mar o� n++a�q�a br rouM�nq
12/21 �2��6
f :1(jt• �1 c�f Z%
N
�
Report Year: 20U5/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: LAGUNA PALMS
NOTE: This form is a summary of the totals of all new construction or substantfal rehabilitation
units from forms HCD-D7 which are developed in a��roject area by any entity (agency or non-
agency).
�n��7 ►
�M 8 SC Seca���� . ,i�131b)(1)j
AGENCY DI=VELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8� 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Year for U�,��s inne 3 x 30°/a) 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ve� �--�ow Income Units (line 4 x 50%) 0
P/��2T i!
�N 8 SC Secu� ���3(b)(2)j
NON-AGENCY D['JELOPED UNITS
� New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Uniis �Ime 8 x 15%)
i
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for Ver�� �ow tncome Units (line 9 x 40%) 0
PA� � ill
TG' .�S
11. Total Increase in Inclusionary Obligations During This F�s.� :� v�ar (add line 4 8� 9) 0
12. Total Increase in Very Low Income Units Inclusionary 0���� ���ons Dunng This Fiscal Year (add line 5& 10) �
CaMarw R�Wv�qpnMt Ap�nues � F�►ca� �e�r ?OOS/2006
Scrrd�l� E 1� 1�011
'TOW� m�y W mp�pW br �ou�O��p
• SCHEDULE NCD E1
� CALCULA710N OF 1NCREASE IN AGENCY'� JNCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only: Actual u�,iiqation is based on Imp/ementation Plan)
12/21 /2006
Pari� � of 27
SCHEDULE NCD E1
CALCULA TION OF INCREASE IN AGENCY':: Jl�CLUSlONARY OBLIGATION FOR ACTIVITIES
(This Form is lnformation Only: Actual v:,l;qation is based on Implementation Plen)
�
Report Year: 200 `.;l2Q06
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: LEGEND GARDENS
NOTE: This form is a summary of the totals of all n�w construction or substantial rehabflitation
units from forms HCD-D7 which are developed in a��roject area by any entity (agency or non-
agency).
PAI:T I
�H 8 SC Sect�u� �. sn t 3(b)(1)�
AGENCY DEVELOPED
1. New Units p
2. Substantially Rehabilitated Units p
� 3. Subtotal - Baseline of Units (add line 1& 2) 0
� 4. Subtotal of Inclusionary Obliqation Accrued this Year for Un��c ���ne 3 x 30%) 0
j 5. Subtotal of Inclusionary Obligation Accrued this year for Ve�, �.ow Income Units (line 4 x 50%) 0
PAf:T II
�M & SC Sectio� .;a i �Ibl(2)�
NON-AGENCY DCVELOPED UNITS
PNew Units
7. Substantially Rehabilitated Units
� 8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un��; ii�ne 8 x i5%)
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for Ve� � Low Income Units (line 9 x 40%) 0
PAR'� III
TO; ,.�
11. Total Increase in Inclusionary Obligations During This Fisc.��� Year (add I�ne 4& 9) 0
12. Total Increase in Very Low Income Units Inclusionary Obl�c��iions Durmg This Fiscal Year (add line 5$ 10) �
G��an� RW�v�bPm�nl Ay��pes � FisCa� Yea� 7005r1006
Scnws� E 1� vOt 1
'Toia�s m�r be �mo�aeo br rou�a�+p
12/21 /2006
f aa� �� U1 2%
�� .; SCHEDUL� :�CD Ei
CALCULATION OF INCREASE IN AGENCY". INCLUSIONARY OBLIGAT/ON FOR ACTIVIT/ES
(This Form is Information Only: Actual Uc,ligation is based on Implementation P/an)
� Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: MAKE A DIFFERENCE DAY
NOTE: This form is a summary of the totats of att ncw construct�on ar substantial rehabiiitation
units from forms HCD-D7 which are developed in a��� o�ect area by any entity (agency or non-
agency).
PAf2T I
(H 8 SC Secuo�� .f34�3(b)�1)J
AGENCY DLV�LOPFD
1. New Units p
� 2. Substantially Rehabilitated Units p
� 3. Subtotal - Baseline of Units (aqd line 1& 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Year for Un�•�; Il�ne 3 x 30%1 0
5. Subtotal of tncfusionary Obfigation Accrued this year for Ve, ��-Low Income Units (iine 4 x 5Q%j 0
PAf2T II
�H 8 SC Sect�o�• s4�31b)(2)J
NON-AGENCY DC'JELOPED UNITS
.,. New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (aqd lines 6& 7)
9. Subtotal of Inclusionary Obligation Accrued this year tor Un �� (line 8 x 15%)
10. Subtotal of Inclusionary Obligation Accrued this year for Vc� � �ow Income Units (line 9 x 40%)
�
�
�
0
PAfl'� lil
ro- �.s
11. Total Increase in Inclusionary Obligations Du�ing Th�s Fisc.,�i Year (add I�ne 4 8 9) 0
12. Total Increase in Very Low Income Units Inclusionary Obl�c,�,tions During This Fiscal Year (add line 5 8� 10) 0�
CyRom� R�wrsopm�rn �Qerr.es F�Su� Ye�� 7003i?006
ScMdME 111�Ot1
'Tps�s m�r W ��ro�nw br �o��a��+p
12/21 /2b06
Pa,qc ! ut 27
SCHEDULL :iCD E1
CALCULATION OF INCREASE IN AGENCY':; fIVCLUSIONARY OBLIGAT/ON FOR ACTIVITIES
(This Form is Information Only: Actual Ouligation is based on Implementadon P/an)
�
Report Year: 200�/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: NEW SINGLE FAMILY CONST
NOTE: This form is a summary of the totals ot all n��w construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a;;roject area by any entity (agency or non-
agency). �
Pn�:r t
�H 8 �C Sect�o .;3n 13(b)(1)�
AGENCY D�=VELOPED
1. New Units p
2. Subslantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1& 2) 0
4. Subtotal of Inclusionary Obliqation Accrued this Year for Un��s (i�ne 3 x 30%1 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ve� ,- Low Income Units (line 4 x 50%) 0
PAl1T II
�H d SC Secbu�� s3413(b)(2)J
NON-AGENCY DC :�ELOPED UNITS
1 New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotal of Inclusionary Obligation Accrued this year ror U� •�. (��ne 8 x 15%)
51
0
51
8
10. Subtotal of Inclusionary Obligation Accrued this year tor VN� �� �ow Income Units (line 9 x 40%) 3
PAR � III
TOT.�LS
�11. Total Increase in Inclusionary Obligations During Tl�is Fisc.�i Year Sadd line 4 8� 9) 8
12. Total Increase in Very Low Income Units Inclusionary Obl�� �aons DurmQ This Fiscal Year (add line 5 8� 10) 3
C��do��ia RW�v�bpreM+t Age�ues � FqUI Y�u ?OpS�7006
sv�u..e t»�ot�
'Tot�ls m�y be �mp�p� br �ou�tl��g
12/21 /2006
Panr ti of 27
" ,; SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only: Actual Obligation is based on lmplementation Plan)
,_ Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: ONE QUAIL PLACE REHAB
NOTE: This form is a summary of the totats of all new construccion or substantial rehabilitation
units from forms HCD-DT which are developed in a project area by any entity (agency or non-
agency).
PARTI
jH 8 SC Sect�o�, 33413(bl(11J
AGENCY DEV�LOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8� 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Year for Units (line 3 x 30'%1 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ve� ��-�pw Income Units (line 4 x 50%) 0
PART II
�H d SC Sect�on 33413(b)(2)J
NON-AGENCY DEVELOPED UNITS
� New Units
7. Substantially Rehabilitated Units
S. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotal of Inclus�onary Obligation Accrued this year for Un�ts (line 8 x i 5 i�)
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%)
PART 111
TOTALS
�
�
0
11. Total Increase in Inclusionary Obligations Du�i�g 7his Fiscal Yea< <aaa t«�e 4 8 9) 1 0
12. Total Increase in Very Low Income Units Inclus�onary ObliQations Durinq This Fiscal Year (add line 5& 10) j 0
G�domy RsO�vaopmMl Aqe�ues ���scai vn� 7005�2006
5�►�E I�v0�1
'10t�1f m�Y be mWcled Dy io�tl�nq
12/21 /2006
Paqe 9 of 27
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S lNCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only: Actual Obligation is based on Implementadon P/an)
�
Agency: PALM DESERT RDA
Report Year: 2005/2006
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: PALM VILLAGE APARTMENTS
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
PARTI
�H 8 SC Secl�on 33413(b)(11�
AGENCY DEVELOPED
1. New Units �
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add tine 1& 2) 0
4. Subtolal of Inclusionary Obliqation Accrued this Year for Units (line 3 x 30%1 0
� 5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low fncome Units (line 4 x 50°/a) 0
PART II
�H 8 SC Section 33413(b)(211
NON-AGENCY DEVELOPED UNITS
New Units 0
P7. Substantially Rehabilitated Units 0
� 8. Subtotal - Baseline of Units (add lines 6 8� 7) p
I9. Subtotal of Inclusionary Obligation Accrued this year for Un�►s (line 8 x � �°i�) 0
� 10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40°/a) 0
I PART III
TOTALS
11. Total Increase in Inclusionary Obligations During This Fiscal Year (add l�ne 4& 9) I 0
12. Total Increase in Very Low Income Units Inclusionary Obl�qations Dur�n� Th�s Fiscal Year (add line 5 8� 10) j 0
G���O���i RW�w�OpmM� A9l��es ���su� Vl�� 7005Q006
Scrra,�� E I ni0t )
'lotaK m�y D� �mp�a�tl or'oun0��g
12/21 /2006
Page 10 of 27
�
.
Report Year: 2005/2006
Agency: PALM DES�RT iiDA
Project AreaPROJECT AREA 1 ORIGINAL & ANNEX
Project: SANTA ROSA APqRTMENTS
NOTE: This form is a summary of the totals of all new construction or substantial �ehabilitation
units from forms HCD-D7 which are developed in a project area tiy any entity (agency or non-
aqency).
PARTI
(H 8 SC Secl�on 33413(b)(1)J
AGENCY DEVELOPED
1. New Units ' ' ' _. _ ..
2. Substantially Rehabilitated Units
� 3. Subtotal - Baseline of Units (add line 1& 2)
� 4. Subtotal of Inclusionary Obliqation Accrued this Year for Units (line 3 x 30%1
� 5. Subtotal of Inclusionary Obligation Accrued this year for Very-Low Income Un�ts (line 4 x 50%)
PART II
�H 8 SC Sect�on 33413(b)(2)�
NON-AGENCY DEVELOPED Ut�ITS
�,. New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Units (line 8 x 15%)
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Units (line 9 x 40%)
PART III
TOTALS
11. Total Increase �n lnc�usias►asy Ob4igatias►s Dusing This Fiscal Year {a�c5 1me 4 t� 9� �
12. Total Increase in Very Low Income Units Inclusionary ObliQations Dunnq Th�s Fiscal Year (add line 5 8 10)
CrAa*`+ R�oe.�wv��nt Agenu�s � c nca� r ur 7005�7006
sura�i. e i+von
'ia�is msy o� �mp�CYW Df rnun0�np
�� SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGAT/ON FOR ACTIVITIES
(This Form is Information Only: Actual Obligation is aased on Implementation P/an)
12/21 /2006
0
0
0
0
0
�
�
�
U
��
Page 11 of 27
SCHEDULE HCD E1
CALCULATION OF 1NCREASE 1N AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVIT/ES
(This Form is Information Only: Actual Obligation is based on Imp/ementation Plan)
�
Agency: PA�M DESERT RDA
Project AreaPROJECT AREA 2
Report Year: 2005/2p06
Project: NEW UNIT CONSTRUCTION
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a project area ay any entity (agency or non-
agency).
PARTI
�H g SC Section 33413(b)(i 1�
AGfNCY DEVELOPFD
�1. New Units
2. Substantially Rehabilitated Units '
� 3. Subtotal - Baseline oi Units (add line 1 8� 2)
� 4. Subtotal oi Inclusionary Obliqation Accrued this Year for Units (line 3 x 30'%1
I5. Subtotal of Inc(usionary Obligation Accrued this year for Very-Low Income Un�ts (line 4 x 50%)
PART II
jH 8 SC Seclion 33413(b)I?)�
NON-AGENCY DEVELOPED UIJITS
�.: New Units
� 7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Units (line 8 x 15%)
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Un�ts (line 9 x 40%)
PART III
TOT�LS
0
0
0
0
0
28
0
2a
4
2
11. Total Increase in Inclusionary Obligations During This Fiscal Year (add I���e a t� 9} 4
12. Total Increase in Very Low Income Units Inclusionary Obl�qations Durma Th�s Fiscal Year (add line 5 8� 10) 2
CrAomr R�Oe.eaan��� �q�nu�a � F�scr r�sr �pp,�Zppb
scn.aa. e i � vo, �
'Tou�s mq ce �mp�pep Dy �Ou�+tl�nq
12/21 /2006
Page 12 of 27
�,
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 3
Report Year: 2005/2006
Project: CANTERRA APARTMENTS
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developed in a project area ny any entity (agency or non-
agency).
PART I
�H d SC Sect�on 33413(b)(1)J
AGENCY DEVELOPED
1. New Units 0
2. Substantially Rehabilitated Units p
3. Subtotal - Baselme of Units (add line 1 8� 2) 0
� 4. Subtotal of Inclusionary Obliqation Accrued this Year for Units (line 3 x 30'Yo) 0
� 5. Subtotal of Inclusionary Obligation Accrued this year for Ver,�-Low Income un�ts (line 4 x 50%) 0
PART II
jH 8 SC Section 334131b)(2)j
NON-AGENCY DEVELOPED UIJITS
l�r. New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un�ts (line 8 x 15"/,)
�
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low I��come Un�ts (line 9 x 40%) �
PART III
TOT�LS
I 11. Total Increase in Inclusionary Obligations During This Fiscal Year Iatici �ine 4 8 9) � �
� 12. Total Increase in Very Low Income Units Inclusionary Obliqations Durinq This Fiscal Year (add line 5 8� 10) �
C���o�n� RetlerebDment Aqe�c•ea ��sui rea� ?(105�2006
SU�W�ME �1�Att
'TOWs m�Y De �mP�ttW bY �oun0�np
�: SCHEDULE HCD E�
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACT/V/TIES
(This Form is lnformation Only: Actual Obligation is based on Implementatfon Plan)
12/21 /2006
Paqc 13 of 27
�
SCHEDULE HCD E1
CALCULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Jnformation Only: Acfual Obligaiion is based on Implementation Plan)
Agency: PAl.M DESERT RDA
Pro�ect AreaPROJECT AREA 3
Project: FALCON CREST SFH
Report Year: 2005/2006
NOTE: This form is a summary of the totals of all new construction or substantial rehabi(itatfon
units from forms HCD-D7 which are developed in a project area by any entity (agenCy or non-
agency).
PARTI
�H & SC Sect�on 33413(b)(1)]
AGENCY DEV�tOPED
� 1. New Units p
� 2. Substantially Rehabilitated Units p
� 3. Subtotal - Baseline of Units (add line 1& 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Year for Un�ts (line 3 x 30%1 0
5. Subtotal of Inclusionary Obligation Accrued this year for Ve� t�-Low Income Units (line 4 x 50%) 0
PART II
�H 8 SC Secuon s3a13(D)(2)]
NON-AGENCY DEVELOPED UNITS
.�-�New Units
7. Substantially Rehabtlrtated Units
8. Subtotal - Baseiine of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un�ts (Ime 8 x 15%)
�
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Un�ts (line 9 x 40%) 0
PART III
TOTnLS
� 11. Total lncrease in Inclusionary Obligations During This Fisca! Year ladd line 4& 9) 0
� 12. Total Increase in Very Low Income Units Inc�usionary Obl�oations During Th�s Fiscal Year (add line 5 8� 10) � �
GNdomi� R�O�veqpm�m �q�noes . c nu� r r�� 2005�7006
Sth�tluy E 1171011
'Toira mir w .no�aw or ,ou�a,�q
� 2/2� �2�06
Pac�e �14 of 27
�� SCHEDULE HCD E1
'� CALCULATION OF INCREASE !N AGENCY'S INCLUSIONARY OBLIGATION FOR ACTIVITIES
(This Form is Information Only: Actual Obligation is based on Implementation P/an)
�
Report Year: 2005/2006
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 3
Project: HOME IMPROVEMENT PROGRAM
NOTE: This form is a summary of the totals of all new construction or substantiat rehabilitation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
PARTI
jH 8 SC Sect�on 53413(U)(1))
AGENCY DCVELOPEU
1. New Units
2. Substantially Rehabilitated Units
3. Subtotal - Baseline of Units (add line 1 8 2)
4. Subtotal of Inclusionary Obliqation Accrued this Year for Units (I�ne 3 x 30°/al
5. Subtotal oi Inclusionary Obligation Accrued this year for Very-Low income Units (line 4 x 50°/a)
PART II
�H 8 SC Sect�on ,;34131b1(2)]
NON-AGENCY DEVELOPED UNITS
New Units
r7. Substantially Rehabilitated Units
� 8. Subtotal - Baseline of Units (add lines 6& 7)
� 9. Subtotal of Inclusionary Obligation Accrued this year for Un�i� (�ine 8 x 15%)
10. Subtotal of Inclusionary Obtigation Accrued this year for Very Low Income Units (line 9 x 40%)
PART f11
T(�T/1LS
11. Total Increase in Inclusionary Obligations During This Fisc�i Year (add line 4 ti 9� 4
12. Total Increase in Very Low Income Units Inclus�onary Obl�Uations During This Fiscal Year (add line 5 8� 10) I
Ca�Aom� RW�re�opm�nt Aances •��su� Ye�� 7005�2006
Srlrad� E 1�1�Oti
'Toq�t m�f W mP�CIW DY �Ound�nq
12/21 /2006
�
�
�
�
i
�
�
�
0
0
0
Pane �i 5 of 27
SCHEDULE HCD E1
CAICULATION OF INCREASE IN AGENCY'S INCLUSIONARY OBLlGATION FOR ACTIV/TIES
(This Form is Information Only: Actuaf Obligation rs based on Implementation P/an)
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 3
Report Year: 2005/2006
Project: HOVLEY GARDENS APARTMENTS
NOTE: This form is a summary of the totals of all new construction or substantial �ehabflitation
units from forms HCD-D7 which are developed in a project area by any entity (agency or non-
agency).
�n��r �
�H 8 SC Seci�on .s3413(b)(1)]
AGENCY DEVELOPED
� 1. New Units
� 2. Substantially Rehabilitated Units
3. Subtotal - Baseline of Units (add line 1& 2)
4. Subtotal oi Inclusionary Obliqation Accrued this Year for Un�ts (line 3 x 30%1
I5. Subtotal of Inclusionary Obligation Accrued this year for Ver�-Low Income Units (line 4 x 50%)
PART II
�H & SC Secbw� s,s413(b)(2)J
NON-AGENCY DEVELOPED UNITS
� New Units
� 7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6& 7)
9. Subtotat of Inclusionary Obligation Accrued this year for Un��s (line 8 x 15%)
10. Subtotal of Inclusionary Obligation Accrued this year for Very Low Income Un�ts (line 9 x 40%)
PART Ilt
f (�7/�LS
0
0
0
0
0
�
�
11. Total Increase in Inclusionary Obligations During This F�sc,3i Year (add line 4 8� 9) I 0
12. Total Increase in Very Low Income Units Inclusionary Obl��,ations During Tl��s Fiscal Year (add line 5 8� 10) j 0
Gi��O�� RW�vllOpm�nt A9�r1(S�3 •�'SGI Vlie 1005�2006
ScnwJe E � t v0 � t
�TOt��f m�Y D� �mp�d�tl D� �Ouna�nQ
12/21 /2006
F'anc 'ib of 27
'� ,� SCf�EDULE HCD El
CALCULATION OF INCREASE IN AGENCY'S lNCLUSIONARY OBLIGATION FOR ACTIV/TIES
(This Form is Information Only: Nctual Ut�fiqation is based on Imp/ementation P/an)
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 3
Project: LA ROCCA VILLAS
Report Year: ZOUSl2006
NOTE: This form is a summary of the totals of all new construction or substantial rehabilitation
units from forms HCD-D7 which are developec� in a project area by any entity (agency or non-
agency).
i'/+I� T I
�H a �c s�cuo�� ss4�3�oH�)j
AGEWCY DCVELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1 8� 2) 0
4. Subtotal of Inclusionary Obliqation Accrued this Year for Uniis (line 3 x 30%) 0
5. Subtotal of Inclusionary Obligation Accrued this year tor Ver�-Low Income Un�ts (line 4 x 50%} 0
P�tRT II
�H 8 `_,C. S�CI�o�� ;34731b)I1)J
NON-AGEIJCY DEVELOPED UNITS
�. New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this year for Un��s (line 8 x 15%)
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this year tor v�r�- �ow Income U�,its (line 9 x 40%) 0
P/1RT fll
r(.T;.i_S
11. Total Increase in Inclusionary Obligations During in�s F�scai Year (add iine a 8� 9) 0
12. Total Increase in Very Low Income Units Inclusio��ary O�i�c�ai�ons Durinq ����s Fiscal Year (add line 5& 10) �
GiaOm�� RfWv�ioom�nt Aqent rs � sca� rea� 1005?006
Sr,.w. E �,,,o,,
�TOW� m�Y Df �mU�GI�tl bY �0�1�0�^0
12/21 /2006
f�a�te E7 of 27
SCIIEDULE HCD E1
CA[.CULATION OF INCREASE IN AGENCY'S /NCLUSIONARY OBLlCATION FOR ACTIVITIES
(This Form is Informafion Only: Hccual Ouiiqation is based on fmpfemenfation Plan)
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA 3
Project: MAKE A DIFFERENCE
Report Year: 200512006
NOTE: This form is a summary of the totats ot all new construcrion or substantial rehabflitation
units from forms HCD-D7 which are developea in a project area ay any entity (agency or non-
agency).
PAR1 I
�H 8 �C. SecUon �3413(b1111j
AGENCY DEVELOPED
1. New Units �
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1& 2) p
4. Subtotal of Inclusionary Obliqation Accrued this Yea� {or Units iline 3 x 30%� 0
5. Subtotal of Inclusionary Obfigation Accrued ihis year �or Very-i_ow Income U���ts (line 4 x 50%) 0
PART II
�N 8 ::C :,ecUon ,,.•.413(b11'[)j
NON-AGEIJCY DEVE�OPED UNITS
�" New Unifs
I l. Substantially Rehabilitated Units
� 8. Subtotal - Baseline of Urnts (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued th�s yea� �or Unit� (line 8 x 15%)
i
�
�
10. Subtotal of Inclusionary Obligation Accrued this yea� inr Very i.ow Income U����s (line 9 x 40%) 0
PAR i ifl
70T/��.S
11. Total Increase in Inclusionary Obligations During i �i�s Fisc��i Year �adci I���� u& 9) 0
12. Total Increase in Very Low Income Units Inclusionary ObliQ�.,t�ons �uru�y t l��s F�scal Year (add line 5 8� 10) 0
C�ido�nu ct�wvaaoRr�i �o�nus ���.ca� v�a� 7005�7006
Suya��e E l t vp i �
'Tol�s miy D� �mp�dW Dr �ouro�r+g
� 2/2 � �2��6
:��QQ � ti Of 27
'' • SCHcDULE :�CD E1
� CALCULATlON OF INCREASE /N AGEIJCY'S lNCLUSIOIJARY OBLIGATION FOR ACTIVIT/ES
(This Form is Information Only: �+r.cual Ut,�igation is uasea on Imp/ementation P/an)
�
Agency; PALM DESERT RDA
Project AreaPROJECT AREA 3
Report Year: 2005/Z006
Project: NEW UNIT CONSTRUCTION
NOTE: This form is a summary of the totais ot ail new construction or substantial rehabilitation
units from forms HCD-D7 which are developea in a project area av any entity (agency or non-
agency).
PARif
�H S �C Secbon s.i4�3(b)It)]
. AGEI�CY D�VELOPED
1. New Units p
� 2. Substantially Rehabifitated Urnts p
� 3. Subtotal - Baseline of Urnts (add line 1& 2) 0
I 4. Subtotal of Inclusionary Obliqation Accrued this Ye��� tor Un�r�, i�ine 3 x 30°i„1 0
� 5. Subtotal of Inclusionary Obligation Accrued this ye��� ��r Ver}--�_ow Income ����is (I�ne 4 x 50%) 0
PART II
�r+ d : �� Secuon .•3413(b)�2)�
NON-AGE(JCY DEVELOPED UNITS
�New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseiine of Units (add lines 6& 7)
I9. Subtotal of Inclusionary Obligation Accrued thrs ye�r +or Ur�rc�. t�irre b r. t5°i. �
� 10. Subtotal of Inclusionary Obligation Accrued th�s yea� �or Ver�- �_ow Income u���ts (line 9 x 40%)
I PART �il
TOT/ : S
� 11. Total Increase irr Inclusionary Obligations During 1 i��s Fisca� Yea� (add line 4�. 9)
� 12. Total Increase in Very Low Income Units Inclus�on�r�� Obl�a��i�ons Gurin4 T�i�s Fiscal Year (add line 5& 10)
Ci��d� Rbhe�00m�nt Aoe�c [s . c.•Wi r�ai �OOSQ006
Scn�ouie E 1� t �0 � 1
•tpu�s �++ar �'maab Dy �uu�0�^o
1 Z/2'I �2��6
�
�
�
U
C;
�
"aqe i �� of 27
SCi I�DULE : iC0 E9
CALCULATION OF INCREASE !N AGcIJCY'S :NCLUSIONARY OBLIGATION FOR ACT/VITIES
(7'his Form is Iniormation Only: µcrua! O��iqation �s t�ased on Implemeniation P/an)
�
Agency: PAIM DESERT RQA
Project AreaPROJECT AREA 3
Project: REBECCA ROAD
Report Year: 200512006
NOTE: 7his form is a summary of the totafs oi all new construction or substantial rehabilitation
units from forms HCD-D7 which are developea �n a project area by any entity (agency or non-
agency).
PARTI
(i i i+ ' c' �ection .,a 13(b)( t)�
r��ciscY ��v��aQ��
� 1. New Units p
� 2. Substantially Rehabilitated Units p
� 3. Subtotal - Baseline of Units (add line 1& 2) p
� 4 Subtotal of Inclusionary Obliqation Accrued ih�s Yea� ror Un�t� iline 3 x 3U°�l 0
� 5. Subtotal of Inclusionary Obligation Accrued this year ior Very �.ow Income �n�ts (line 4 x 50%) 0
PART 11
�H & :.0 Sect�on ,,s413(b)(21j
NON-AGEfJCY DEE�E�OPED Ut�1tTS
`,. ��ew Units
7. Substantially Rehabilitated Urnts
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued th�s yea� �or Un��:, ��ine 8 x t',�':,,�
�
�
10. Subtotal of Inclusionary Obligation Accrued this ye��� tnr Ver�• �.ow Income u�,�ts (line 9 x 40%) 0
PART !II
TOT�i_S
I 11. Total Increase in Inclusionary Obligations Durinq TI��s Fisca� Year (acid i�ile 4 8 9� � 0
I 12. Total Increase in Very Low Income Urnts Inclus�on�ry Obliu;�i�ons D�r�nc� ����s F�scal Year (add line 5 8� 10) �
Cai,fornw Reoe+e�opm��� �qenues •��su� rsa• iU0�r2006
ScMd�e E � t VOt �
'TONit may b! my�Getl Dv �ou���q
� Z2� �2006
�'�c�e tu of 27
N
. SCI iEDULE 'riCD E1
" CALCULATION OF INCREASE IN ACEl�cY�s :rvcLUs�or�aRY oBUGATION FOR ACTIVITIES
(This Form is Information Only: kcrual Ul,i;qation is u�sed on /mpfementation Plan)
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA NO. 4
Report Year: 2005!2006
Project: COUNTRY CLUB ESTATES/CA VILLA�
NOTE: This form is a summary of the totats or atl new construction or substantial rehabilitation
units from forms HCD-D7 which are developea in a nroject area uy any entity (agency or non-
agency).
i�n�;T �
�H S . . �ec����. �.13(bl� � ;i
AGL(�CY DE :'ELOPED
1. New Units p
2. Substantially Rehabilitated Units p
3. Subtotal - Baseline of Units (add line 1& 2) 0
4. Subtotal of Inclusionary Obliqation Accrued this Yea� �or Un�►s �iine 3 r. 30���) 0
5. Subtotal of Inclusionary Obligation Accrued this year ror Ver�--r_ow Income u���ts (line 4 x 50%) 0
1'ART il
�H8,,. �ect�o�� �•:t3(b)lt1'
NON-AGEE•�CY DE:'ELOPED UNITS
New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this yer ��r U���i ���ne 8.: ��'.�)
�'
�
�
�
10. Subtotal of Inclusionary Obligation Accrued this yea� �or Ver�- i.ow Incon,c� u���ts (line 9 x 40%) 0
f'ART �II
(OTi� �
11. Total Increase in Inclusionary Obligations Dunng i�:��. �isc:. Year I��a ��ne 4�, 9) 0
12. Total Increase in Very Low Income Units Inclus�on;���- Ol�i��: ��ons Du���,c: ��,�s Fiscal Year (add line 5 8� 10) �
C�iaom� R�owe�oom��� Aqrnun • F au� r�a� 700SQ006
Scx»We E �, tro, i
'TouN m�y oe �r�o+aW bv �o,.�+a•no
12121 /2006
'.,�C . : of 27
SCII�DUIE :�CD E1
CALCULATION OF lNCREASE IN AVEIJCY'S lNCLUSIOI,rARY OBLIGATION FOR ACTIV/TIES
(This Form is lnformation Only: H� rual ut�l�qation rs c;asea on Implementafion Plan)
L
Ager�cy: PALM DES�RT RDA
Project AreaPROJECT AREA NO. 4
Report Year: »0512006
Project: COUNTRY VILLAGE APARTMENTS
NOTE: This form is a summary of the tota(s ot aft i�ew construction or substantia( ref�abi(itatfon
units from forms HCD-D7 which are developeu �n a ur oiect area �y any entity (agency or non-
agency).
, ��i: r i
jH 6 :.��i,o�� t 13(bl( t ��
AG�t�S�Y DC1�'E�OPEU
1. New Un�ts
2. Substantially Rehabilitated Units
� 3. Subtotal - Baseline of Units (add line 1 8 2)
I4. Subtotal of Inclusionary Obliq�tion Accrued this Year ;or Un��� �I�ne 3> 3�' �l
5. Subtotal of Inclusionary Obligation Accrued th�s year r�r ve��- �_ow Incom� Un�ts (�ine 4 x 50%j
�'nR7 (t
(N 8 ' •�•cbo�� , t 1'S(bl([��
tJON-AGEi�CY DEV�LQPE� LIJITS
I� New Units
� 7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8� 7)
9. Subtotal of Inclusionary Obligation Accrued this ye�. �or Un�i� iiine 8>. i::' �)
10. Subtotal of Inclusionary Obligation Accrued th�s yea� �or Ve��- i ow Income ����is (line 9 x 40%)
�'l�F� i iIl
;i`� �
0
0
0
0
0�
�
�
�
�
0
I11. Total Increase in Inclusionacy Obligations Du�ing l���•; �=�sc:..� rear l:�uu �� �e 4 t� 9) 0
� 12. Total Increase in Very Low Income Uniis Inausion;�„� ��ni�c,���ons �����r. . I ��,� F�scal Year (add line 5 8� 10) � �
Cy��o�rns Reo�.��opm�.+� qa��+cas. �.�cr� rrr� tOnS�?OOG
ScnWu��E �ttrpt�
'7otVa m�Y be �mPi[t!O br �ound�n0
12/21 /2006
� �IC '_' Of 2%
m
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA NO. 4
Project: DELETE
Report Year: �OO�;�a06
NOTE: This form is a summary of the totals c:r ai� i�c.-r consiruc:ioci or substantial rehabilitation
units from forms HCD-D7 which are developeu �n a i�; �iect �re� :;�� uny entity (agency or non-
agency).
,nt: i (
�H 8` :,� u,o,� �., t.il�u �)I
AG[i�lCY DE`.�ELOPED
1. New Units
� 2. Substantially Rehabilitated Units
� 3. Subtotal - Baseline of Units (add line 1 8, 2)
4. Subtotal of Inclusionary Oblioation Accrued this Ye�� ;or un�i
5. Subtotal of Inclusionary Obliqation Accrued this yea� �nr ��e��
0
0
0
, i�ne 3 ;. ��;"�.1 0
o�v Inc.on,� ��n�is (line 4 x 50%) 0
�'nl� f II
�H R 'i ��U� � 1.;(1�1V �I
NON-AGEi�1CY DC`.'CLOPED U�:ITS
� New Units
� 7. Substantially Rehabilitated Urnts
� 8. Subtotal - Baseline of Units (add lines 6 8 7)
I9. Subtotal of Inclusionary Obligation Accrued th�s ye�+� ��r Un�i �i�ne 8 r�'�' ��)
10. Subtotal of Inclusionary Ubliqation Accrued this ye<, ��r ✓rr�. � �w Inr.�n�� ��•.�r� (line 9 x 40%)
�'!�Il i i{f
�-,T. '
' 11. Total Increase in Inclusionary Obhgations During � �,�� r�sr..� � eai ���uc� �c: -, r� 9)
� 12. Total Increase in Very Low Income Units Inclusio��: ��� ��UI�i:,.I�O�S lJuf�n.� ,�,��. Fiscal Year (add line 5 8 10)
Ca��o�nOReOlrNopmeniAOr��t�es �.•.,.,��i;. �❑r,i700G
ScnWuy E i t vOt �
'� oiy� m�r oe ��++o�nea or •o��o��o
� SCi:�DULE :rCD E7
� CALCULATION OF INCREASE IN A��..:�JC1":: :;dCLUSlO;:.all )' OBUGATION FOR ACTIV►TIES
(This Form is Information Unly: �,�.;:rar ur,r�qation is :..:seu on Implementation Plan)
12/21 /2006
�
�
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�nc_.;uf27
SC; ;EDULE : �CD E1
CALCULATION OF INCREASE /N AG�NCY'S :f��CLU::10�:,;1zY 08LIGAT/ON FOR ACTIVIT/ES
(This Form is lnformation Only: f+crual Ob,�qacion ,s r�..sea on Impfementation Plan)
�
Agency: PALM DESERT RDA
Project AreaPROJECT AREA NO. a
Report Year: 200512006
Project: HABITAT FOR HUMANITIES
NOTE: This torm is a summary ot the totals or a11 ne��,� consrruc:ron or substantial rehabilitation
units from forms HCD-D7 which are deveiopea in a proieci area :.��� zny entity (agency or non-
agency).
�'ART f
�H 8 � . SccUon .. � �3(b)1 i ��
AGEt�CY DEVELOPED
1. New Un�ts
2. Substantially Rehabilrtated Units
3. Subtotai - Baseline of Units (add line 1 8 2)
4. Subtotal of Inclusionary Obliaation Accrued this Yea� ior UnitS ii���e �� ��'
5. Subtotal oi lnc�usrorrary Obli,qatrorr Accrued ih�s yea� �n� Very � nH� rr�r„rn�
0
0
0
� 0
���-�s (lir►e 4 x 50%) 0
�'ART if
�H b �� cuon . � �.;�t,)i�
NON-AGEi•1CY DEVELOPE� l:::ITS
New Units
I /. Substantially Rehabilitated Un�ts
� 8. Subtotal - Baseline of Un�ts (add lines 6& 7)
I9. Subtotal of Inclus�onary t�bligat�on Accrueci this ye�� �or Unit� .:���e u, �
10. Subtota( of fnc�usionary UbtiQation Accrued this ye�� �or Very ��w n,co�„� ��:��s (line 9 x 40°/a)
i'ART III
OTA �
� 11. Total Increase in Inclusionary Obligations Durmg �,,�s Fisca� �edr (�cau ,�,�� -� 8 9)
� 12. Total Increase in Very Low Income Units Inclusion::ry ubligations C�ur��� i � ���s Fiscal Year (add line 5 8 10)
C�Ir�Omi� RtOfvfqDminl AfllnGti F�SWI Y[�rr tW',i7�b
Scrraui. E �+��o�i
'ton�s �,sr o� �r„o�a�a o. ,n��o•no
12/21 /2006
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ige <<< ut 27
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Report Year: 2005I2006
Agency: PALM DESERT RDA
Pro�ect AreaPROJECT /IR[A lv0. 4
Project: HOME IMPROVE PROGRAM
NOTE: This form is a summary of the totats c.r �rf ne�.•r conscruc:r�ci or substantiaf rehabiHtation
units from forms HCD-D7 which are developeu in a proiecr �re� :;�- ;ny entity (agency or non-
aqency).
i'ART I
�H 8 _cclion . . � t ;lUlf � �I
AG�iJCY DE:�ELOPEi�
� �. New Units
� 2. Substantially Rehabil�tatea Units
3. Subtotal - Baseline of Units (add line 1 8 2)
4. Subtotal of Inclusionary Obl�pation Accrued this Ye�, :or Unit� �i�ne 3>: .;�
5 Subtotal of Inciusionary Obf�qation Accrued this yea� ��r Very .���- incon��
���s (line 4 x 50°/a)
�'ART �I
�N 8 : �. ;;ccLon s..•� I:;lu)1'['�
NON-AGEidCY DEVELOPEG ii(�ITS
�,,Jew Units
7 Substantially Rehabditated Units
8. Subtotal - Baseline of Un�ts (add lines 6& 7�
9. Subtotal oi Inclusionary l�bliqation Accrued th�s ye�•. �or Unit� ����e u> �
10. Subtotal of Inclusionary vbliqation Accrued th�s ye�� ;nr Very : �v� i���::::�� _� ��;: (line 9 x 40%)
�'ART ��(
�OTn��
o�
01
0
0
0
� 11. Total Increase in Inclusionary Obligations During � ���s I"isca� , �ar (�uc .���r- 4 t� g) �
� 12. Total Increase in Very Low Income Units Inclusion. r�- Ubligr.�.�uns uu� �� ����� F�scal Year (add line 5 8 10)
G�eoma ReOe.eioom�m �aenues � � ��c.�� *� .�� fv�i5i2006
SovtldeE tttrOt�
'Toims �++�r w �n��iG�O DY •OUnO•n0
' SCi . �DULE rrCD E i
� CALCULATION OF INCREASE !N A V ci�CY'S :lJCLUSI UI:.4, l Y OBLIGAT/ON FOR ACT/V/TIES
(This Form is Information Only: �+,�ruaf Obliqation �s r:,.���d on Implementation P/an)
12/21 /2006
�
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9 �
�1C�@ 2�` af 2%
SCI�cDULE:i::D E1
CALCULATION OF INCREASE !N AGciJCY'S 11�CLUSJO:Y.i�lY OBLIGATION FOR ACTlNTIES
(This Form is ►nformation Only: k�:rual Obl�uarion is ��.,�cv on Implementation P/an)
Report Year: :�005/�006
Agency: PALM DESERT RDA
Pro�ect AreaPROJECT AREA NO. 4
Project: NEW UNIT CONSTRUCTION
NOTE: This form is a summary ot the totals ct all ne�•.� co��szrucs�:;n or substantial rehabilitation
units from forms HCD-D7 which are developea i�i a proiect are� :�v any entity (agency or non-
agency).
�'AR1 ;
�H a � :.�ct�on . �.,��.,� i �
AGCf�CY DE:'ELOPE�
1. New Unrts 0
2. Substantially Rehabilitated Un�ts 0
3. Subtotal - Baseline of Units ladd line 1 8 2) 0
4. Subtotal of Inclusionary Ubliaat�on Accrued this Ye��� �nr Unit� i�ne 3> �
5. Subtotal of Inclusionary Obliqation Accrued this yea� +or Very �v; i�,cc��:�• ��� (line 4 x 50%) 0
I'ART il
�H Fi : �, S�ction .. • �:tii,llli
NON-AGE(dCY DEV[LOPED �'I:ITS
(�,. New Units
� 7. Substantially Rehabilitated Un�ts
8. Subtotal - Baseline of Units ladd lines 6 8� 7)
9. Subtotal of Inclusionary ubli4ation Accrued this ye�+� �oi Unit� �nc- �>
6
0
6
1
10. Subtotal of Inclusionary ubl�oation Accrued this yea; �or very u�� i�,co��� .��is (Ime 9 x 40%) �
�'ART ��I
' OT�, �
� 11. Total Increase in Inclus�onary Obligations Dunna �.��c ��isca� e�,� ��r,�� .�•� r> 9) �
�12. Total Increase m Very L�w i�icome Units Inclusio��. � v� iblia: ����• ��.. • Fiscal Year (add line 5 8� 10) I 0
G���O��N R�tlfvC�Opf�l�� Apl�Uti f i4G'll �� .� /U(1j�?QQ6
Swau� E � t t i0 � i
'lo�a�i mar De �mWGcO Ov �wno�np
12/21 /2006
iqe [� ui 27
'' • SC;;�DULE tfi,D E1
� �ALCULAf10NOFINCREASElNAGC'IJCY'S'�1CLUSIU;;.,llYOBL/GATIONFORACT/VlTIES
�Tliis Furm is Information On1y: �{� rir�� Obi,�,atro�� r:. ...._�cr on Impfementation Plan)
Y Report Year: :�J05I�OOG
Agency; PALM DESERT ROA
Project AreaPROJECT �I;EA NO. 4
Project: VILLAS ON THE GREEI�f
NOTE: This form is a summary ot the totals �r ail ne�-.� construcc�on or substantial rehabiiitation
units from forms HCD-D7 which are developec� ii� a pr�iect are:, :::� :�ny entity (agency or non-
agency).
�nR � .
�H A ' '.���I�On . � 131i�11 � ��
AG�i�CY D[':ELOPE'v
1. New Units 0
2. Substantially Rehabilitated Units p
3. Subtotal - Basel�ne of Un�ts (add line � 8 2) 0
� 4. Subtotal of Inclusionary ubliaation Accrued this Yea� �or Unit� � iine 3 x.,: �. 0
� 5. Subtotal of inclusionary ubiiqation Accrued this year �or t�ery � ow inco��-„ ����is (line 4 x 50%) 0
�R � i
���t.. ���Uon_ �73(�,u[�
NON-AGE!!Cl' DE`.'�! OPE�• _ .�!.�.'
�New Units
7. Substantially Rehabilitated Units
8. Subtotal - Baseline of Units (add lines 6 8 7)
9. Subtotal of Inclusionary �)bliqation Accrued this yer> >�r un�t� ��ne ts >:
� Q
0
0
0
10. Subtotal of Incl�sionary ubliqation Accrued this year �nr Very ow i��cc�:��. ,��ts (line 9 x 40%) 0
�RT ..I
�T/ ;
� 11. Total �ncrease in Inc�us�onary Oblipat�ons Durinq f���� ��isca� �'ear 4�c�� •�� a, 9) �
I12. Total Increase in Very I.ow Income Units Inclus�u�,, ��- ��bliQ;,. ons D��� �,. �.�•. Fiscal Year (add line 5 8� 10) �,
Caido�ny Reoe.��wrt+eni wqe^��e• ' •cr� ,• , n�� ,�7006
ScnaaW�E �++�n+�
'Tn�7�y may Dt ��,.,•rcle0 Dr �o��ntf•no
12/21 /2006
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iSiS • ••�• _�� �cr►raee �ra �uconnr� nv ��.m r nar; anFwry nn �v ���..
'� - . .c r_-�-_
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT �'���� •�,s,,,��•
Division of Housing Policy Development
��soo t7,ia seea. �„43o z �
' P. O.•8oa 952053 �"� �• !�' � r �'
S�cnrrcnb. CA 94232-2033 � � • ''� �.. t �r �
(91 � J27-� 176 / FAX (916) JI7-2643 . � • ��y0
�-il:��°��� MAY 2 8 20D2
" P�1:.w� ��:,�'�T C1TY I�AI.►_
G�1Y rfA��G�R
May 22, 2002
Mr. Carlos L. Ortega, City Manager
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 922�0
Dear Mr. Oriega:
RE: Review of the City of Palm Desert's Adopted Housing Element
/ `^-:;1
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Thank you for submitting Palm Desert's adoptcd element received for our revicw on
March 18, 2002. As you know, we are required to rcview adopted housing elements and report our
fmdings to the locality pursuant to Government Code Section 65585(h).
As }+nu know, our October 29, 2001 review found the City's revised draft element adequatcly
addressed the statutory requirements of housing element law. Since the adopted element is
substantially the same as the draft, we are pleased to find thc adopted element in full compliancc
`- with State housing element law (Article 10.6 of the Government Code).
Our finding of compliance is conditioned on the redevclopment agency (RDA) commitment of low-
and moderate-income (L&M) funds to subsidizod the construction of housing for lowcr-income
households in specific projects. The subsidies providal by the RDA, are tazgeted to accommodate
Palm Desert's regional share need of 77 very low-, and 67 low-income households for the 2000-
2005 planning period. The extensive subsidies are necessary to accommodate Palm Desert's
regional housing need because of the City's low residential densitics. The City should monitor the
development of thc planned 162 mulNfamily units on agency owned land. If fewer assisted units
are devcloped or any of the pmjects are not constructed, or the projected income levels of residents
in the proposed developments change, the element will need to be amCnded to provide adequate
sites commensurate to the City's remaining regional share need. The City should report on the
status of these units in the annual general plan progress reports rec�uired pursuant to Government
Code Section 65400.
We appreciate the City's ef%rts to develop a housing element that complies with State law and
addresses the City's serious housing needs and unique conditions. We wish Palm Dcsert much
success in implementing its housing element. If you should need any assistance in the
implemcntation of your �housing pmgrams, please contact Mario Angel, of .Qur _ stafi', at
(916) 445•3485.
Mr. Carlos L. Ortega, City Manager
Page 2
�
In accordance with their requcsts pursuant to the Public Records Act, we are forwazding a copy of ihis
letter to the individuals listed below.
Sincerely,
��
� ������
Cathy E. Creswell
Depury Director
cc: Nicole Sauviat Criste, Terra Nova Planning & Reseazch tnc.
Phil Drell, Planning Manager, City of Palm Desert
Mazk Stivers, Senate Committee on Housing & Community Development
Catherine Ysrael, Supervising Deputy Attorney General, AG's Of�'ice
Terry Roberts, Governor's Ofiice of Planning and Rcscarch
Ki.mberley Dellingcr, Califomia Building Industry Association
Marcia Salkin, California Association of Realtors
Marc Brown; California Rural Legal A.ssistance Foundation
Rob Weiner, California Coalition for Rural Housing
� John Douglas, AICP, Civic Solutions
Deanna Kitamura, Westem Center on Law and Pov�rty
S. Lynn Martinez, Western Center on Law and Poverty
Alexander Abbe, Law Firm of Richards, Watson & Gershon
Ruben Duran, Law Firm of Neufield, Jaf% & Levin
Dara Schur, Protxtion & Advocacy, Inc.
Jonathan Lehrer-Graiwer, Attomey at Law
Ana Marie Whitaker, California State Poly — Txh Univt�rsity
Karen W�rner, P& D Consultants �
David Booha, California Housing Council
Jose Rodriquoz, Califomia Rural I.egal Assistance
Minh Tran, Inland Counties Legal Services
Rose Mayes, Fair Housing Council of Riverside County, Inc.
Joe Carreras, Southern California Association of Governments
Won Chang, Attorney at Law, Davis and Company
Jacob Lieb, Southern California Association of Governments
Jam�s A. Ragsdalc, JRA Planning Consultants
�
PALM DESERT REDEVELOPMENT AGENCY
MEMORANDUM
TO: DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT
FROM: JANET MOORE, HOUSING ADMINISTRATO
DATE: DECEMBER 21, 2006 `- ��
SUBJECT: HOUSING ELEMENT UPDATE FY 2005-2006
The following report details the progress made by the City and Agency during the
fiscal year 2005-2006 in meeting the goals and objectives of the City of Palm
Desert's affordable housing needs as identified in the Housing Element adopted
in 2002.
`- This report will be included with the annual report to the legislative body pursuant
to Section 33080.1 of the Health and Safety Code.
STATUS AND EFFECTIVENESS OF HOUSING ELEMENT GOALS
�
0
The most recent Housing Element Update was adopted by the City Council
February 14, 2002, and certified by the Department of Housing and community
Development as meeting the requirements of law. The City of Palm Desert along
with the Palm Desert Redevelopment Agency has worked aggressively to
implement the goals, policies and programs. The following summarizes each
program related to affordable housing, along with its adopted schedule, its status
as of June 2006, and progress made towards implementation.
GOAL 1
A variety of housing types that meet all the needs of all income groups
within the City.
i� According to the 2004 City econom�c profile released by the State
Department of Finance. the City has been able to maintain it's goal in
providing a variety of housing types within the City. It is estimated there
are 30,001 housing units in Palm Desert consisting of the following
housing types:
■ Single family, detached units 12.207
■ Single family, attached units 9,534
■ Multi-family, 2-4 units 2,486
■ Multi-family, 5+ Units 4,576
■ Mobile Homes 1,198
i During fy 2005-2006, the City issued a total of 260 new housing permits
throughout its city boundary that consisted of the following housing types:
■ Single family, detached units 179
■ Single family, attached units 50
■ Multi-family 4
■ Mobile Homes 27
■ The City issued a total of 271 certificate of completion during fy 2005-2006
for new housing units that became available throughout its City boundary
and consisted of the following housing types:
■ Single family, detached units 188
■ Single family, attached units 32
■ Mobile Homes 50
■ Assisted Living, 5+ units 1
December 26, 2006
E
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GOAL 2
The preservation and maintenance of the high quality of the City's
affo�dable housing supply.
Policy 1
The Creation of new and the preservation of existing affordable housing projects
shall be encouraged in all areas of the City.
Program 1.1
The Agency shall pursue development of 162 rental and 117 ownership units
west of Cook Street, between 42"d Avenue and Merle, as an affordable family
project. Of the 162 rental units, 54 shall be restricted to very low-income
households, and 8 shall be restricted to low income households.
Aii One hundred sixty-two (162) rental units were completed in December
2003 and continue to be 100% occupied by 73 very low-income
households and 89 low-income households.
i� The development of 93 single-family dwellings and 27 senior rental units is
we!! underway and expected to be completed in 2007.
Responsibility of.• Redevelopment Agency
Schedule: 2002-2005
-- Program 1.2
The Agency shall continue to implement the Self-Help Housing program, and
shall identify 20 households to be assisted by the program in this planning
period.
i The implementation of a Self-Help Housing program continues to be a
current effort. At this time, 14 lots are being considered for ownership
units under the Self-Help program. In addition, the Agency has donated 5
lots and 1 home needing rehabilitation (three in fy 05-06) to the Coachella
Valley Habitat for Humanity, a non-profit organization for the development
of 6 self-help homes to be purchased by very low-income families. Three
(3) homes have been constructed, one (1) is under construction, (1) under
rehabilitation, and (1) scheduled for construction early 2007.
Responsibility of.• Redevelopment Agency
Schedule: 2004-2005
Program 1.3
The Agency shall continue to subsidize existing affordable housing units in the
City, including apartment units it owns now and in the future.
I� In 1998 the City added 745 subsidized rental units to its portfolio. Since
then, the City acquired California Villas in 2003 (141 Unit complex).
December 26, 2006
Laguna Palms in 2004 (48 unit complex). Country Village Apartments in
� 2005 (66 unit complex); for a total of approx�mately 1,000 units now being
subsidized.
Responsibility of.• Redevelopment Agency
Schedule: Ongoing
Program 1.4
The Agency shall maintain the existing resale restrictions and other subsidies on
the Desert Rose project.
� The City maintains a waitlist for households interested in purchasing a
resale within the development. By monitoring all re-sales. the City is able
to assist sellers to fsnd qualified buyers and mamtain the projecl
affordable. If a qualif�ed buyer is not �dentified, the City will seek
authorization from Council to purchase the unit back for re-sale once a
qualified household is identified. Over 50% of the development has resold
�n the 10 years since the first unit sold.
Responsibility of.• Redevelopment Agency
Schedule: Ongoing
Program 1.5
The Agency shall maintain ownership of its 745 existing rental-housing units in
— order to assure long-teRn affordability for these projects.
Mi The City surpassed its goaf and now owns over 1,000 rental units to
assure long-term affordability.
Responsibility of.• Redevelopment Agency
Schedule: Ongoing
Po/icy 2
The City shall continue to strive to meet the Sfate-mandated specia/ shelter
needs of /arge families, female headed households, single parent families, senior
citizens, handicapped and homeless individuals and families, and shall consider
inc/uding units for such households in its projects.
Program 2.1
The City shall continue to enforce the provisions of the Federal Fair Housing Act.
Information on the Fair Housing Act, as well as methods for responding to
complaints, shall continue to be available at City Hall. Complaints requiring
action under the Fair Housing Action shall continue to be referred to the County's
Fair Housing Office in Palm Springs. The Housing Manager shall continue to
provide the name, address and nature of the complaint to the Fair Housing Office
when inquiries are made at Palm Desert City Hall.
December 26, 2006
,,^ � The Agency posts any required information at each property. Compla�nt
procedures and responses are handled by Riverside County Fair Housing
offices located throughout the county
Responsibiliiy of.� Housing Manager, Redevelopment Agency
Schedule: Ongoing
Program 2.2
The City shall work with the Senior Center and other appropriate agencies in
assisting whenever possible in the housing of handicapped residents, through
participation by the Redevelopment Agency
M� The Agency cu�rent4y has 33 haridicapped tenants residing in �1s
properties.
Responsibility of.• Redevelopmeni Agency, Senior Center
Schedule: Ongoing
Program 2.3
The R-3 and planned residential districts in the Zoning Ordinance shall be
amended to allow emergency shelters and transitional as a conditional use.
� The City still allows homeless shelters in these zones and pactscipates sn
— Regional efforts in order to address any of concerns related to emergency
and transitional shelters.
Responsibility of.• Community Development Department
Schedule: Ongoing
Program 2.5
The City shall encourage local organizations, such as the Coachella Valley
Rescue Mission, Martha's Village and Catholic Charities, to apply ta the City for
the assignment of CDBG funds for the homeless services.
IM The City was awarded �395,595 in CDBG funds for FY 05-06. This
amount was divided between ten recipients. Three of the recipients
provide services, shelters, or transitional housing to homeless; Fair
Housing Council, Riverside County Dept. of Social Services and Shelter
from the Storm.
Responsibility of.• City Manager's Office
Schedule: 2003-2004
Program 2.6
The City shall encourage the acquisition of existing mobile home parics by non-
profit agencies or organizations, in order to preserve their affordability.
December 26, 2006
�
!� Currently, the City is review�ng a request to convert Indian Springs Mobile
Home Park into a resident-owned development to help preserve
affordability. During FY 05-06 several efforts were made including the
submission of an application to the State of California Water Quality ,
Resources control Board for sewer conversion grant assistance.
Responsibility of.• Redeve/opment Agency, City Manager's Office
Schedule: Ongoing
V
Policy 3
The City Shall continue to utilize resale and rental restrictions, applicant
screenings, and other appropriate mechanisms established as conditions of
approval in order to preserve affordable for sale housing units for long term.
Program 3.1
The City shall keep in regular contact with the Riverside County Housing
Authority to ensure that Section 8 housing assistance within the City is actively
pursued. At least 50 households should be assisted every year.
� Riverside County identified 129 units for section 8 residents in Palm
Desert. The Agency maintains thirty-five (35) of these units within its own
properties
Responsibility of.• Housing Manager
Schedule: Ongoing
Program 3.2
Should the Candlewood Apartments opt-out of their HUD contract, the City shall
actively participate in the identfication of a potential buyer to maintain
affordability for this project. The Redevelopment Agency will also assist these
organizations in securing financing.
i The current owner of Candlewood Apartments (30 unit complex) has opt-
out of the HUD contract. The Agency is in the process of purchasing the
property and expects escrow to close August 2006.
Responsibility of.• Redevelopment Agency
Schedule: As needed (change to 2006)
Policy 4
The Redevelopment Agency shall annually allocate funds to eligible projects as
they are presented to the Agency for review and consideration, in conformance
with its Five Year Implementation Plan.
December 26, 2006
C�
� ,
.�
(f� The Agency reviews all eligibie pro�ects as presented and has negotiated
affordability restrictions as well as options for further subsidy assistance
� for 5 projects during this fiscal year
Policy 5
The City Council shall consider, as an individual incentive, the reduction,
subsidizing or deferring of development fees to facilitate the development of
affordable housing.
UM The City has considered several development projects to facilitate the
development of affordable housing dur�ng this fiscal year At this time.
these projects are still pending as the City has yet to enter into an
agreement. Projects are considered upon request of developer.
Policy 6
The City shal/ continue to address the needs of fhe senior population in the
development of housing.
Program 6.1
The City shall maintain Senior Housing overlay district and the second unit senior
housing standards in the Zoning Ordinance.
-- i The City still maintains the S.O.D. and the law was amended in 2003 to
comply with state standards to allow second unit housing in all residential
zones.
Responsibilify of.• Community Development Department
Schedule: Ongoing
Program 6.2
The Agency shall begin to develop plans for a senior housing project during this
planning period.
� The Agency has begun the development for the construction of 27 new
senior apartment complex, known as La Rocca Senior Villas. The project
is currently under construction and will be made available to very low and
low-income seniors. The goal for La Rocca Senior Villas is 10 be fully
completed by the end of 2007.
Responsibility of.• Redevelopment Agency
Schedule: 2003-2004
December 26, 2006 �
Program 6.3
�
The City shall continue to encourage the development of assisted living facilities
for seniors.
++� There are 9 assisted living facilities in Palm Desert. Of which 7 units are
designated for SSI recipients. The City continues to look for assisted
living development opportunities.
Responsibility of.• Community Development Department and
Redevelopment Agency
Schedule: Ongoing
Policy 7
The Crty shalf implement the State's densiiy bonus law.
Iri The City reviews all projects with regard to the states density bonus laws.
In 2005-2006, four (4) developments were approved with conditions for
the provision of affordable units pursuant to staie law.
Policy 8
The City shall encourage the rehabilitation of existing housing units.
Program 8.1
" The Agency shall annually fund the Single Family Rehabilitation Program, and
shall assist 25 households each year.
i With both RDA and CDBG funds the City is financing a home
�mprovement program that helps an average of 22 households per year.
No applicant has been declined due to lack of funding. The City
anticipates that this program will be even more successful with the new
availability of energy efficient upgrades to homes that have deteriorated
and outdated equipment.
Responsibility of.• Redevelopment Agency
Schedule: Ongoing
Program 8.2
The Agency shall establish and fund a multi-family residential rehabilitation
program, and assist 30-40 multi-family units during the planning period.
� During the FY 05-06 period no applications were received for this
program.
Responsibility of.• Redevelopment Agency
Schedule: 2002-2005
December 26, 2006 8
�
Policy 9
The City shall maintain the Renfal Subsidy Program, the Mortgage Subsidy
Program and the Homebuyers Program.
� The Agency has assisted households during the reporting period on an
individual case-by-case basis; however, many households are
accommodated under aiternate housing programs such as Desert Rose or
Hovely Gardens.
Policy 10
Promote the jobs/housing balance through the development of housing wifh
convenient access to commercial land uses, schools, available public transport
and employment centers.
lii The City has approved a master pian comprised of approximatefy 2,227
acres that promotes development to balance jobs and housing. Once
completed, the development will include high to low density housing in the
form of condos, town-homes, apartments and single-family houses in
close proximity to Coachella Valley's only ma}or university campus, light
industrial uses, retail, professional business and open-space to facilitate
diversity and the integration of jobs with appropriate housing availability.
Policy 11
Encourage energy conservation through the imptementation of new technologies,
passive solar site planning and enforcement of building codes. Please also see
the Energy and Mineral Resources Element.
i Ordinance No. 1124 was approved by the City Council on August 10.
2006. The ordinance implements energy conservation standards that are
higher than federal or CA state levels for new residential development.
December 26, 2006
9
�
� � ...J .,... .,... . ... . ......... ......._ . .� . _.,
Privately Owr►ed FZent�als Multi Family
(with restric#iorts) .
Individually (7�ru+ied Sirigle Family
Derisity Borx�s Urits with Affarcl�ble R�.stridions
(Pravicled unde�' agree�r�ertt)
Tatal Produoed
AFFOimABLF UMTS /N P�9!�OC�SS
�Y ��
lndividua�fy O�n+ried
Total In Pro�ress"
76
45
0
71
130
145
0 147
30 2(K
24 16fl�
679 679 143 1501
31
0
31
�
0
�
0 Gi
� �
93 156�
F�E /tiPf�OV6r6YT P'F�OC�I?AM
Q.�rr'ent Year 3 1
Toral All Years 78 �
fbhaGilitated Lrrts (adat�ssing an existin9' r�eed)
(�rts here a►B afieady induabd in hf►P QrrerX and Tatals 2ba�+e. _
CU�V i F�pll�4 PR�UC'/1AIV
p�.���y pyy�� 56 71
Total Fi�IA Pr+oduoed to Deba�`" 56 71
"l�i�dts notrdln Ws cabs�ory ►�1/ be oan[�d M�+�rd /��1fA ►�tli Ehe �x�Efon d 12 u�
'"Gtdts /ndudsd /n tl�ls s+�ctlon my be oauxsd !n mWtlpk cat�epotl�s ahoaa
December 26, 2006
1 5
15 145,
61
0 127
0 12
10
PROGRESS IN MEETING REGIONAL HOUSING NEEDS
� ,
.�
PROGRESS MADE TOWARDS MITIGATING GOVERNMENTAL
CONSTRAINTS
Summary Analysis of Constrainfs on City of Palm Desert Housing
A number of governmental, environmental and other constraints can affect the
provision of affordable housing in any community. Govemmental regulations,
while intentionally regulating the quality of development in the community can
also, unintentionally, increase the cost of development and thus the cost of
housing. These govemmental constraints include land use controls, building
codes and their enforcement, site improvements, fees, and other exactions
required of developers, and local processing and permit procedures. Land use
controls may limit the amount or density of development, thus increasing the cost
per unit. On site and off site improvements like road improvements, traffic signals
on adjacent streets or sewer improvements may increase an individual projecYs
costs of development. Processing and permit requirements may delay
construction, increasing financing and/or overhead costs of a development.
Though, there is very little that municipal governments can do to affect the cost of
land or constn�ction because they are a result of private market forces.
The City has, however, ensured that several components are "in place" and part
of the overall housing strategy to produce affordable housing. These components
include available land at higher densities, financing and subsidy assistance,
' ability to waive or defer fees for affordable housing projects, standards and codes
that are reasonable and flexible and ensure that any new development is
compatible with the surrounding neighbortiood, and motivated and experienced
developers. With these components the City has still been able to maintain the
ambiance of existing neighborhoods, improve the urban environment, and
preserve open space and unique ecosystems.
December 26, 2006 11
LOOKING FORWARD TO FISCAL YEAR 2006-2007
The City of Palm Desert can look forward to a number of projects during fiscal
year 2006-2007 that will continue to implement the programs of the Housing
Element, including:
� New Regional Housing Needs Allocation
� Availability of Falcon Crest Project Phase II homes for sale
� Completion of Palm Village Apartments
Ni Completion of La Rocca Villas Apartments
F� Developer provided units with market developments
0
December 26, 2006
12
PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
0
REQUEST: ADOPT RESOLUTION NO. 505 , EXTENDlNG THE
PERIOD FOR RETENTiON OF APN fi25-061-022 & 021(VACANT
LOTS — NORTHWEST CORNER AT PORTOLA AND EL CORTEZ
WAl') FOR AN ADDITiONAL FIVE-YEAR PERIOD AND
REAFFIRMING THE AGENCY BOARD'S iNTENTION THAT THE
PROPERTY SHALL BE USED TO DEVELOP AFFORDABLE
HOUSING.
FROM: JANET M. MOORE, HOUSING AUTHORITY ADMINISTRATOR
DATE: OCTOBER 13, 2005
CONTENTS: RESOLUTION N�. 505
Recommendation:
That the Agency Board adopt Resolution No. so5 , reaffirming its intent
that affordable housing be developed on an Agency owned vacant lots
known as APN's 625-061-022 & 021, and extending the time pe�iod for
retention of such property for an additional fnre years.
Executive Summarv:
When p�operty is pu�chased by the Agency with 20°1a Set-Aside funds and has not been
developed within five years of its original date of purchase, Health and Safety Code
Section 33334.16 requires that the Agency Board reaffirm iffi intent to develop the
property for afforclable housing. Based on this, a five-year extension for retentlon of the
property is recommended to August 15, 2010.
Discussion:
On August 15, 2000, the Agency purchased APN 625-061-022 & 021, two vacant lots on
Portola Avenue and EI Cortez Way, for the purpose of developing affordabfe housing.
Health and Safety Code Section 33334.16 requires the legislative body to reaffimn its
intent to develop property purchased with the Agency's 20% Set Aside fund if the property
has not been developed within five years from the date of purchase.
��
,;
Staff Report
� EI Cortez Way and Portola Ave., APN 625061-022 8 021
October 13� 200b
Page 2 of 2
Resolution No. 5Q5 ,
The property remains undeveloped. Although the Agency has taken steps towards
development, staff recommends that the Agency Board reaffirm 'rts intent to develop the
lat with affordable housing and as provided for in the code, extend the time frame for
development for an allowable one-time period of frve years.
Submitted By:
Department Head:
%
`" anet . Moore Dave Yrigo
sing Authority Administrator Director edevelopment/Housing
�
Approval:
. �
J i McCarthy
ACM for Redevelopm�
Carlos L. Ortega
Executive Director
JMM:pI
��OV P1� , gy RDA
ON ._._.�,(Z•i 3 =[�
VERtFIED BY I�K,I �o�
Original on flle with City C! k's Of�ce
1'
o:+�+�y i..o�+�w�uMw�er,.poaie coe.:.�w �noi. praa.w..ax
r
�
RESOLUTION NO. 505
�,�,.�. ; 6� �.� /
� ,�N �,.:��.-a�/o�s
�yb/,c A�c,. s EL
e�,��z �<y
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY AFFIRMING ITS INTENTION THAT CERTAIN
PROPETY BE USED FOR THE DEVELOPMENT OF
HOUSING AFFORDABLE TO PERSONS AND FAMILIES OF
LOW AND MODERATE INCOME
Section 1. On August 15, 2000, the Palm Desert Redevelopment Agency
acquired certain property identfied as Assessor's Parcel No. 625-061-022 8� 021. The
Agency acquired such property for the development of housing affordable to persons and
families of Iow and moderate fncome. Agency staff has inRiated certain activities consistent
with the development ot the property for that purpose, but such activwes to date have been
unsuccessful.
Section 2. The Agency Board hereby extends the period during which the
Agency may retain the above-described property to August 15, 2010. The Agency Boar+d
hereby afficros its intention that the property be used for the development of housing
affordable to persons and families of low and moderate income.
� PASSED, APPROVED, and ADOPTED by the Paim Desert Redevelopment
-- � Agency, this 13th day of Octobe�, 2�,�� by the following vote, to wit:
AYES: BENSON, KELLY, SPIEGEL, FERGUSON
NOES: NONE
ABSENT: CRZTES
ABSTAIN: NONE
ATTEST:
� �'%�� '`!`
,i� .,�� ..r� . �
� - -
Agency
G:tRDAWATTV I,EOMWPDOCyVMMUT/1FF REPOIlTY1E�OLUTqMSlL CORTF2 AND rOTOLA 11ES.DOC
�
CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT �
REQUEST: ADOPT RESOLUTIONS OF THE CITY COUNCIL OF THE CITY OF
PALM DESERTAND PALM DESERT REDEVELOPMENTAGENCY
AUTHORIZING THE SUBMITTAL OF AN APPLtCATION TO THE
CALIFORNIA DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT REQUESTING BEGIN PROGRAM FUNDING
FROM: JANET M. MOORE, HOUSING AUTHORITY ADMINISTRATOR
DATE: OCTOBER 13, 2005
CONTENTS: CITY RESOLUTION NO. Q5- s1
AGENCY RESOLUTION NO. sos
Recommendatiot�
By Minute Motion that the City Council:
1- 1. Adopt Resolution No. 05- 81 a resolution of the City Counc(I of Palm Desert
authorixing the submittal of an applicat(on to the Cal(fornia Department oi
Housing and Community Development requesting BEGIN Program funding in an
amount up to �2,790,000 for down payment assistance for the 93 single-family
residences at the 20 acre site, and
2. Authorize the City Manager to execute all documents that may be necessary to
facilitate the application vr award.
By Minute Motion that the Agency Board:
1. Adopt Resolution No. 508 , a resolution of the Palm Desert Redevelopment
Agency authorizing the submittal of an application to the California Department
of Housing and Community Development requesting BEGIN Program funding in
an amount up to $2,790,000 for down payment assistance for the 93 single-
family residences at the 20 acre slte, and
2. Autho�ize the Executive Director to execute all documents that may be
necessary to facilitate the applicatbn or award.
Executive Summary:
Approval of this request will authorize staff to submit an application for funding provided by the
Califomia Department of Housing and Community Development. If the application is
successful, the C(ty and/or Agency will utllize the funds as down payment assistance for first
time homebuyers for the 93 single-family residences at the 20 acre site. Denial ofthis request,
will result in the Agency funding the entire monetary dlfferential between an affordable housing
Staff Report
�. Request for BEGIN FUNDlNG PROGRAM
October 13, 2005
Page 2 of 2
cost and the sales price of the home.
Discussion:
Resolution No. OS-81 � 508
On March 17, 2005, the Califomia Department of Housing and Community Development (HCD)
announced the issuance of this Notice of Funding Availab(lity(NOFA) underthe Building Equity
and Growth in Neighborhoods (BEGIN) Program. Proposition 46, the Housing and Emergency
Shelter Trust Fund Act of 2002, provides funding to locai pubUc agenc(es for low- and
moderate-income first-time homebuyer mortgage assistance.
The City and/or Agency proposes to apply for avaliable funding unde� the BEGIN Program in
order ta assist the buye�s of the 93 single-family units at the 20 acre site. If the Agency is
successful with its application the Ctty and/or Agency could be awarded up to �2,790,000 in
grants which shall be used for down payment assistanoe fn the form of a loan to qualifying first-
time homebuyers of low- and moderate-income purchasing newly constructed homes in a
BEG1N project.
A successful application will reduce the Agency's assistance obligations which staff estimaies
to be between $60,000 and $85,000 per household. This NOFA is a competitive application
process. In the event that there are more project funding requests than available funding, the
applications will be competitively scored and funding wil be allocated accordingly.
There is a possfbiUty that the City and/or Agency may be successful in its applicatlon, however,
may not receive the entire amount of funding applied for. In the event this happens, fhe Clty
and/or Agency will utilize the allocated funding (n the most appropriate manner to ensure that
the benefit of the award ls maximized.
The attached resolutions authorizes the Executive Director and City Manager to execute the
application for the BEGIN funds as well as any documentation necessary to facilitate this
funding request. Agency staffwillworkwith the conVacted developerofthe 20 acre site, Com-
Dyn, Inc., to prepare and submit the required application.
Staff recommends approval of said resolutions authorizing the submittalof the application to
HCD in order to request funding under the BEGIN Program.
Submitted By: Department Head:
��-G��, �
an M. Moore
sing Authoriry Administrabr
�
ave Yrigoye
Director of edevelopment and Housing
��.�
__����
Carlos L. O a
Executive Dlrector/City Manager
�.
. : '< _.::�': :�i;. �.�i�: `_�:' :3'.�i :
J. :' 't? ' �
.: :�.: �i'� � c .. : •
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.��r, ! �r � iJA�i�u p,�
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: .,; ge,r.��f�., .f`4e.i..t. .r _ :� � _,.:�er ��t�!�_
� . . y � �.9
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,.'.?.•..' 3r? .':t_.�: � l�.t,� �A..�_��_y.. � .... ��.._ _...k.....•__
l'!:, f ti.i? tt�:��. C1��•Z I:.•.. i•: 4� `:. l.`1.'�.V �.:,r.l i«':3 �?�.xJ.���'
�r�� e� , BY RDA
or� l � -t3-D�
VERJ�IED BY_.�„f ��
Originat on fi{e with City Clerk's Ofif�ce
�
._
RESOLUTION NO. 05- 81
A RESOLUTION OF THE CITY COUNCIL OF THE C1TY OF
PALM DESERT WHEREIN THE C1TY COUNCIL HEREBY
AUTHORIZES THE SUBMITTAL OF AN APPLICATION TO
THE CALIFORNIA STATE DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE
BEGIN PROGRAM; THE EXECUTION OF A STANDARD
AGREEMENT IF SELECTED FOR SUCH FUNDING AND ANY
AMENDMENTS THERETO; AND ANY RELATED
DOCUMENTS NECESSARY TO PARTiCIPATE IN THE
BEGIN PROGRAM.
THE GOVERNING BOARD OF:
The Citv Council of the Citv of Palm Desert
�
WHEREAS:
A. The City of Palm Desert, a municipal corporation, wishes to apply for and
receive an aliocation of funds through the BEGIN Program; and
B. The Califomia Department of Housing and Community Development
(hereinafter referred to as "HCD") has issued a Notice of Funding Availability ("NOFA") for
the BEGIN proqram established bv Chapter 14.5. Sections 50860 throu4h 50866 of Part 2
of Division 31 ot the Health and Safetv Code (the "statute"1. Pursuant to the statute, HCD
is authorized to approve funding allocations utilizing monies made available by the State
Legislature to the BEGIN program, subject to the terms and conditions of the statute and
the BEGIN Program Guidelines adopted as amended by HCD on 03/04/05; and
C. The City Council wishes ta submit an application to obtain from HCD an
allocation of BEGlN funds in the amount of $2,790,000.00
IT IS NOW THEREFORE RESOLVED THAT:
1. The City Council shall submit to HCD an application to participate in the BEGIN
Prog�am in response to the NOFA issued on March 17, 2005, which will request a
funding allocation for the following activities:
Down Payment Assistance for first time homebuyers at a 20 acre development in
the City of Palm Desert west of Cook Street that will consist of 93 singie-family
residences available to persons and families of low to moderate income. All grant
G�RD�W�Tfr � f OMWPOOCSv►A�Si��F qtPdeT�RESOIUi�QNS�EEGIN r11QGRAM • C�iYS RES OOC
"�solution �o. OS-81
`
funding will be used for this purpose in an amount not io exceed the ailowable
assistance pursuant to the N�FA described above.
2. If the application for funding is approved, the Palm Desert Redeveloprnent Agency
(hereby agrees to use the BEGIN funds for eligible activities in the manner
presented in the application as approved by HCD and in accordance with program
Guidelines cited above. It also may execute any and all other instruments
necessary or required by HCD fo� participation in the BEGIN Program.
3. The City Council authorizes Carlos L. Orlega, City Manger, to execute in the name of
the Ciry Council of Palm Desert, the application, the Standard Agreement, and all
other documents required by HCD for participation in the BEGIN Program, and any
amendments thereto.
PASSED, APPROVED, and ADOPTED by the City Council of Palm Desert, this
13th day of October, 2005, by the following vote, to wit:
AYES:BENSO�, KELLY, SPIECEL, FERGUSON
NOES: NONE
— ABSENT: CRITES
ABSTAIN: NOKE
Jir
Ci1
ATTEST:
achelle D. Klassen, i!y Cleric
Pro-Tempore
G ROA?ATTM 160�!•WPOOGSUMMSiA« RErORTVtCSOLUtiONS•EECs�M PROGRA\1 CiTYS Rt5 DOL
�� .
�
�i
RESOLUTION NO. 508
A RES�LUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY WHEREIN THE AGENCY BOARD HEREBY
AUTHORIZES THE SUBMITTi4L OF AN APPLICATION T4
THE CALiFORNIA STATE DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE
BEGIN PROGRAM; THE EXECUTION OF A STANDARD
AGREEMENT IF SELECTED FOR SUCH FUNDING AND ANY
AMENDMENTS THERETO; AND ANY RELATED
DOCUMENTS NECESSARY TO PARTICfPATE IN THE
B�G1N PROGRAM.
THE GOVERNING BOARD OF:
The Palm Desert Redeveloqment Aaencv
�
WHEREAS:
(�, Palm Dese�t Redevelopment Agency , corporate and politic, wishes to
apply for and receive an ailocation of funds through the BEGIN Program; and
B. The Califomia Department of Housin� and Community Development
(hereinafter �efecred to as "HCD"} has issued a Notice of Funding Availabiliiy ("NOFA") �
the BEG1N aroq�m established bv ChantA� 14.5. Sections 50880 throuah 5U866 of Part 2
of Divisbn 31 of the Health and Safetv Code (the "statute')• Pursuant to the statute, HCD
is authorized to approve funding albcations utflixing monies made available by the Stete
Legislature to the BECIN program, subject to the terms and oondttlons of the statute and
the BEGIN Program Guidelines adopted as amended !�y HCD on 03(04I05; and
C. The Palm Desact 4Zedevetiapment Agency wishea to submit an apptiication
to obtain from HCD an aliocation of BEGtN funds in the amount of �2,790,000.00
1T 1S NOW THEREFORE RESOLVED THAT:
1. The Palm Desert Redevelopment Agency shall submit to HCD an application to
participate in the IN Program in response to the NOFA issued on March 17,
2005, which wtll request a funding allocation for the following activities:
Down Payment Assistance for flrst tlme homebuyers at a 20 acre development in
the City of Pa{m Desert west of Cook Street that will consist of 93 single-family
residences availabie to persons and families of low to moderate income. All grant
G:�ADAIPATTY LEOM�TAPf �'ORflll!lOLUTIONSIBEdN WtUORAM�OC
• ^eeolution No. 508
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funding will be used for this purpose in an amount not to exceed the allowable
assistance pursuant to the NOFA described above. �
2. If the applicatia� for funding is approved, the Palm Desert Redevelopment Agency
{hereby agrees to use the BEGIN funds for eligible activities in the manner
presented in the appHcation as approved by HCD and in accorciance with program
Guidelines cited above. tt aiso may execute any and afl other fnstruments
necessary or required by HCD for participation in the BEGIN Program.
3. The Palm Desert Redevelopment Agency authorizes Carlos L. Ortega, Executive
Director, to execute in the name of the Pa(m Desert Redevelopment Agency, the
application, the Standard Agreement, and all other documents required by HCD for
pa�ticipation in the BEGIN Program, and any amendments thereto.
PASSED� APPROVED� and ADOPTED by the Palm Desert Redevefopment
Agency, this 13t day of October, 2005, by the following vote, to wit:
AYES: BENSON, KELLY, SPIEGEL, FERGLlSON
NOES: Nax�
✓ ABSENT: CRITES
ABSTAtN:NONE
ATf EST:
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Jim
Pair
Chair
�elopment Agency
EACH DOCUMEPR TD WHICH THI3 CERTIFICAI'E IS
ATTACHED. IS CERTIFt�O TO BE A FULL, TRt1E AND
COfiRECi COPY OF THE ORIGINAL ON FILE IWD ON
RECORD 1N MY OFFlCE
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ConCract Number R24000
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PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: C�NSIDERATION AND APPROVAL OF AN AGREEMENT WITH
COMDYN PD, LLC FOR THE DEVELOPMENT OF AFFORDABLE
HOUSING ON A 20-ACRE SITE
SUBMITfED BY: LAURI AYLAIAN, REDEVELOPMENT MANAGER
DEVELOPER: COMDYN PD, LLC
. 2800 28th ST., STE. 206
SANTA MONICA, CA 90405
DATE: JULY 14, 2005
CONTENTS: AGREEMENT BETWEEN THE PALM DESERT
REDEVELOPMENT AGENCY AND COMDYN PD, LLC FOR FEE
DEVELOPER SERVICES FOR AGENCY-OWNED PROPERTY IN
THE CiTY OF PALM DESERT
`-•' Recommendation:
By Minute Motion, that the Agency Board consider and approve� the
agreement between the Palm Desert Redevelopment Agency and Comdyn
PD, LLC for fee developer services for Agency-owned property located in the
City of Palm Desert for the development of affordable housing consisting of
infrastructu�e, 27 senior rental units, and 94 single-family homes; authorizing
the Executive Director to finalize the agresment and the Agency Chair to
execute same.
This is a multi-year agreement Funding for the work to be performed during the Fiscal
Year 20Q5/06 has been budgeted in Account No. 870-4698-466-4001. Funding for the
subsequent two fiscal years will be appropriated through the annual budget process.
Executive SummarY:
Acceptance of the staff recommendation wiil approve an agreement with ComDyn PD,
LLC to develop the infrastructure, seniar rental units, and single-family homes designed
for the 20-ecre parcel of Agency-owned land immediately west and south of the Hovfey
Garden Apartments. Approval will authorize the Executive Director to make minor
modifications (including downward adjustments in cost to the Agency), as appropriate
and necessary, to protect Agency interests prior to execution of the agreement. This
authorization is needed to meet the project schedule, which calls for construction work
to commence before the summer is over.
Contract Number,R240�0
�
st�ff Report
Consideration and Approval of Agreement with ComDyn PD� LLC
Page 2 ot 4
July 14, 2005
Discussion:
In February 2005, the Redevelopment Agency issued a Request for Proposals to 43
firms interested in developing affordable housing on a 20.acre parcel owned by the
Agency. In April 2005� six written proposals were �eceived in response to the Request
for Proposals. The three top-ranked firms, ComDyn, LLC, Palm Desert Development,
and Rancho Housing Alliance, were interviewed in depth regarding their proposals.
Based on the proposals, the oral intervlews, and the recommendation of the Ad Hoc
Housing Committee, the Agency Board on 12 May 2005 authorized staff to negotiate an
agreement with ComDyn, LLC of Santa Monica, California. Staff has been working with
the developer and both parties' legal counsels since that time to negotiate a
development agreement. The agreement appended to this staff report is a result of
fhose negotiations.
Under the terms of the subject agreement, the developer will be required to build the
infrastructure to serve al! planned uses on the 20-acre site, construct 27 senior rental
units and a community room to serve those units, and construct, market and sell 94
� single-family homes in three phases. The devefoper will also be required to:
• Design, permit, and construct the landscaping, senior rental unit carports, and
community gardens
• Qualify potential homebuyers and provide homeowner education and training
• Implement enetgy conservatlon measures and elements of universal design into the
design of the single-family homes
• Complete the design development and construction documents for the single-family
homes, based upon previously approved schematic design drawings pnepared by
Kristi Hanson, Inc., under contract to the Redevelopment Agency
• Provide monitoring and assistance for th�ee montfis after the close of escrow as
part of a new-homeowner outreach program to the purchasers of the single-family
homes
The contract amount is for a stipulated sum in the amount of $25.674,845 consisting of
$17,495,901 for the single-family homes� $2,910,156 for the senior rental units, and an
amount not to exceed $5,268,788 for the infrastructune. The Agency will own and
operate the senior rental units and wil( transfer the singie-family homes directly to the
qualifying buyers, providing such subsidy as is necessary to make them affordable to
families of low and moderate income. The entire project is scheduled to take 28 months
to oomplete.
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Contract Number R240Q0
�
Staff Report
Consideratfon and Approval of Agreement wlth CornDyn PD, LLC
Page 3 af 4
July 14. 2005
Additionai deal points that staff would like to bring to the attention of the Agency Board
are as folfows:
1. The developer is also acting as the general oontractor for the project. The
developer is not authorized to issue any change orders to the general contractor
that are outside of the scope of the origlnal project budget without prior consent
of the Agency.
2. The Agency will make payment to the developer based upon the progress of the
construcfion wotic, plus a developers fee that is paid in increments as certain
milestones are reached throughout the course of the project.
3. The stipulated sum for the agreement is based upon the assumption that fifty
percent of the single-family homes will be sold to families of low tncome and fifty
pe�ent to families of moderate income. In the event that this ratio is signiflcanUy
altered, an adjustment to the stipufated sum will be warranted.
4. In the event that there is an increase in the cost for the vertical construction that
-- exceeds ten percent between the April 2005 date of the develope�s proposal and
�the date when the ve�tical constn�ction is permitted, the Agency can require the
developer to solicit bids from third-party generel contractors that are mutually
acceptable to both parties. If such a third-party contractor provides a lower bid
than the developer's own general contractor, the Agency can require that the
developer remain in his role as developer, but contract with the third-party
contractor for construction of the vertical improvements. If, during the same
period of time, the cost escalates by an amount less than ten percent of the value
of the vertical constru�tion, the developer wilf retain his own general contractor to
perform the work, and the stipulated sum will be automatically revised to
compensate for the cost increase. Note that even in the event of a ten percent
cost increase, the contrect amount for the developer will be less � than was
proposed by any other respondents to the Request for Proposals.
5. The developer will take the lead roie in creating and implementing financing,
marketing, community outreach and programming for all sales of single-family
homes. The devefoper will also identify third-party sources of subsidized
financing that can be used to further leverage the Agency's investment, and/or
deepen affordability to the targeted population of potentia{ homebuyers.
6. In the event of material cost increases for lumber, concrete or copper is greater
than five percent during the actual course of verti�al construction woric, the
Agency will, with appropriate substantiation of price increases, process a change
order to compensate the developer for these material increases.
O:VipAWry MunMNPOATAV►YLANMSTFRrTD�07�40lCanDynPO ODAdee
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Contract Numbe'r k24'�00
Staff Report
Consideratton and Approval of Agreement with ComDyn PD, LLC
Page 4 of 4
July 14, 2045
7. Any costs associated with scope increases, such as energy-saving devices,
universal design features, or amenities not previously identified, will come back
to the Agency Board for approval in change orders.
8. The developer will provide a one-year warranty for all construction work, plus
other warranties as provided for by state statute.
Because of the complexity of the subject agreement and the timing of the upcoming
hiatus from meetings of the Agency BoaM, staff requests that the Agency Boa�d
approve the agreement as presented, subject to minor modifications as may be
approved by Agency Counsel and the Executive Director prior to execution. Such
modifications are likely to be made in areas dealing with: remedies short of termination;
assessment of liquidated damages in the event the developer fails to timely complete
the work; indemnifications, sureties, and insurance requirements specific to concems
associated with having a single asset limited liability oorporation holding harmless the
Redevelopment Agency; and downward adjustments in the infrastructure cost based
upon refinement of the original budgetary estimates.
- This affordable housing project will assist the Agency in meeting its requirements under
the Regional Housing Needs Assessment. Assuming an average first deed of trust
value of $110,000 for the single-family homes, the Agency will recoup approximately
$10.5 million of the $25.7 million cost of thls project.
Submitted by: �
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Redevelopment Manager
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Approval:
Department Head:
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Dave Y�igoye �
Director of development/Housing
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Paul S.
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st n McCa�thy, ACM velopment
Carlos . rte� Executive Di�ector
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PALM DESERT REDEVELOPMENT AGENCY/HOUSING AUTHORITY
STAFF REPORT
REQUEST: CONSIDERATION OF SUPPLEMENTAL RESOLUTIONS
DESIGNATING THE PALM DESERT HOUSING AUTHORITY AS
THE OPERATOR OF AGENCY OWNED HOUSING PROJECTS
SUBMITTED BY:
DATE:
CONTENTS:
Recommendatior�:
JANET M. MOORE, HOUSING AUTHORITY ADMINISTRATOR
MARCH 9, 2006
AGENCY RESOLUTION NO. 51�
AUTHORITY RESOLUTION N0. HA -29
By minute motion that'the Agency Board:
1) Approve Resolution No. s�7 a supplemental designation by the Agency to
the Authority as operator of certain Agency owned Housing ProJects, and;
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By minute motion that the Authority Board:
1} Approve Resolution No. HA-29 a supplementai acknowledgement and
acceptance of its designation by the Agency as operator of certain Agency
owned Housing Projects.
Executive Summarv:
The Agency adopted resolutions designatirtg the Authority as operator of oertain Agency
owned Housing Projects. Adopting the supplemental resolutions wiil clariiy the intent of
the Agency to assist the Authority with the expenditures made for the Agency's rental
properties in order to operate them in a heatthy, safe and sanitary condition as well as
designate the Authority as operator of all rental housing projects herein after acquired or
constructed by the Agency. Failure to adopt said resolutions may result in the Authority
having a shortfall insufficient to cover expenses for the operation, management,
maintenance, repair and rehabilitation of such units.
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Staff Report
Resolutions designating Housing as the Operator of Certain Agency owned properties
March 9, 2006 .
Page 2 of 2
Discussion:
The Authority is responsible for the day to-day operations of the Agency's 1,000+ renta(
units. This includes the management, maintenance, and routine repairs required in
order to maintain rental properties in a healthy, safe and sanitary condition.
In order to ensure uninterrupted operations, maintenance and renovations, stafi is
asking that a supplemental resolution be adopted further clarifying the Agency's and
Authority's intent and responsibilities with respect to the expenditu�es and payment
thereof. The original resolved designations, while implied, did not specifically address
the possibility of insufficient revenues. Nor did it address large renovation projects that
may deplete the operating funds. Adoption of these resolutions will clarify that the low &
moderate income housing fund would be available, as needed, to cover any shortfalls
(subject to outstanding bonds). The supplemental resolutions also authorize the
Treasurer to effectuate any ntecessary monetary transfers in a timely manner.
Staff is recommending approval of the supplemental resolutions in order to clarify the
Agency's intent and to ensure that funds are made available for the stated purpose.
Submitted by: Department Head:
Jan t M. Moore
sing Authority Administrator
JMM:pI
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cCarthy,
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Paul Gibson, Director of Finance
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Dave Yri en '
Direct of Redevelopment/Housing
�t Carlos rtega, xecutive Director
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Original on file with City Ser 's �iflce
BY HOUSG AUTH
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RESOLUTION NO. 5�7
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY SUPPLEMENTING 1TS RESOi.UT14NS DESIGNATING
THE PALM DESERT HOUSING AUTHORITY AS THE OPERATOR
OF CERTAIN AGENCY-OWNED RENTAL HOUSlNG PROJECTS IN
THE CITY OF PALM DESERT
THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
5ection 'I .The Agency is the owner of the foUowing rental housing projects:
One Quail Place� consisting of 384 units
Desert Pointe, consisiing of 84 units
Neighbors Apertments, consisting of 24 units
Taos Palma; consisting of 18 units
Califoinia Villas, consisting of 141 units
Laguna Palms, consisting of 48 units
Country Village, consisting af 68 units
Las Serenas, consisting of 15� units
The Pueblos, consisting of 15 units
Catalina Gardens, consisting of 72 unita
Pafm �Ilage Apartrnents, consisting of 36 units
La Rocca Villas, consisting of 27 units
Section 2.The Agency has designated the Palm Desert Housing Authority as the
ope�ator of the various rental housing projects owned by the Agency and the Agency
hereby conflrms such designation and again designates the Housing Authority as
operator of all the rental housing projects described in Sectlon 1 hareof, and all of the
rental housing projects hereafter acqulred or constn�cted by the Agency.
Section 3.The Housing Authority is hereby further authotized to do all acts and
things necessary or appropriate in connectlon wiih the operation, managernent,
maintenance, repair and rehabititation of all such rental housing projecis, including but
not limited to entering into an agreement or agreements with a private management
company or companies consistent with federal tax regulations pe�taining to tax�xempt
bonds. •
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RESOLUTION NO. 51�
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Section 4.To the extent that rental revenues and other income derived by the
Housing Authority from the various rental housing projects described in Sections 9 arsd
2 hereof are insufficient to cover any of the expenses of operation, management and
maintenance of such units, the Agency hereby covenants to pay to or on behaff of the
Housing Authority from amounts in the low and moderate income housing fund of the
Agency such amounts as may be necessary to cover any shortfalls which may arise
from insufficient rental revenues and other inoome. The Agency also hereby covenants
to pay io or on behalf of the Housing Authorit�r all expenses of repair and rehabilftation
of such units from moneys derived directly from the low and moderate income housing
fund of the Agency.
Section 5.At such time or times as the Treasurer of the Housing Authority
determines that a shortfall exists or is soon anticipated, or that amounts are needed for
repair or rehabilitation, the Treasurer of the Housing Authority shalf make a demand on
the Treasurer of the Agency. Such demand shall state the amount of the exisiing or
anticipated shortfall, or the amounts needed for repatr or rehabilitation. Upon receipt of
such demand, the Treasurer of the Agency shall pay to or on behalf of the Housing
Authority the amount stated in such demand from the low and moderate income
housing fund of the Agency. All expenses of repair and rehabilitation of such units shall
be paid by the Housing Authority from moneys derived directly from the low and
moderate income housing fund of the Agency.
� Section 6.The Treasurer otthe Housing Authority and the Treasurer of the
Agency shall cooperate to establish such special account or accounts as may be
necessary or desirable to effectuate the purposes of Sedions 4 and 5 hereof.
Section 7.The obligation of the Agency to pay amounts to the Housing Authority
pursuant to Sections 4 and 5 hereof shall be subordinate to any obligations of the
Agency to pay debt service on bonds heretofore or hereafter issued and which are
payable from the Agency's low and moderate income housing fund.
SecEion 8.The Secretery of the Agency is hereby authorized and directed to
deliver a copy of this Resolution to the Housing Authority and to the Treasurer of the
Housing Authority.
PASSED, APPROVED AND ADOPTED this 9�' day of March, 2008
AYES: B�sox, cRiTF.s, aEis.�, SPIEGEL, and F��So�i
NOES: �o�
ABSENT: �o�
ABSTAIN: ao� �
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Jiai�ywon, Chairman . .
ATTEST:
�acballe D. assen, Secretary
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RESOLUTION NO. HA-29
A RESOLUTION O� THE PALM DESERT HOUSING AUTHORlTY
ACKNOWLEDGING AND ACCEPTING ITS DESIGNATION BY THE PALM
DESERT REDEVELOPMENT AGENCY AS THE OPERATOR OF
CERTAIN AGENCY-OWNED RENTAL HOUSING PROJECTS IN THE
CITY OF PALM DESERT
THE PALM DESERT HOUSING AUTHORITY HEREBY FINDS, DETERMINES,
RESOLVES AND ORDERS AS FOLLOWS:
Section 1.The Palm Desert Redevelopment Agency is the owner of the foAowing rental
housing projects:
One Quail Place, consisiing of 384 units
Desert Pointe, consisting of 64 units
Neighbors Apartments, consisting of 24 units
Taos Palms, consisting of 16 units
Califomia Villas, consisting of 141 units
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Laguna Palms, consisting of 48 units
Country vllage� consisting of 66 units
Las Serenas, consisting of 150 units
The Pueblos, consisting of 15 un(ts
Catalina Gardens, consisting of 72 units
Paim Village Apartments, consisting of 36 units
La Rocca Vflias, consisting of 27 units
Section 2.The Agency has designated the Housing Autho�ity as tha operator of the
various rental housing projects owned by the Agency and all of the rental housing projects
hereafter acquired or constructed by the Agency. The Housing Authority hereby
acknowledges and accepts such designation, and hereby covenants to operate, manage,
maintain, repair and rehabilitate such rental housing units.
Section 3.The Agency has further authorized the Housing Authority to do all acts and
things necessary or appropriate in connection with the operation, management, matntenance,
repair and rehabilitation of a(I such rental housing projects, including but not limited ta
entering into an agreement or agreements with a prtvate management company or
companies consistent with federal tax regulations pertaining to►tax-exempt bonds. The
Housing Authority hereby acknowfedges and accepts such authorization.
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RESOLUTION NO. HA-29
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Section 4.To the extent that rental revenues and other income derived by the Housing
Authority from the various rental housing projects descrlbed in Sectlons 1 and 2 hereof are
insufficient to cover any of the expenses of operation, management and mafntenance of such
units, the Agency has covenanted to pay to or on behalf of the Housing Authority from
amounts in the low and moderate income housing fund of the Agency such amounts as may
be necessary to cover any shortfalls which may arise from insufficient rental revenues and
other income. The Agency has also covenanted to pay to or on behalf of the Housing
Authority all expenses of repair and rehabilitation of such units from moneys derived direc�y
from the low and moderate income housing fund of the Agency.
Section S.At such time or times as the Treasurer of the Housing Authority determines
that a shortfall exists or is soon anticipated, or that amounts are needed for repair or
rehabilitation, the Treasurer of the Housing Authority shall make a demand on the Treasu�er
of ihe Agency. Such demand shail state the amount of the extsting or anticipated shortfall, or
the amounts needed for repair or rehabilitation. Upon receipt of such demand, the Treasurer
of the Agency shall pay to or on behaff of the Housing Authority the amount stated in such
demand from the low and moderate income housing fund of the Agency. All expenses of
repair and rehabilitation of such units shall be paid by the Housing Authority from moneys
derived directly from the low and moderate income housing fund of the Agency.
Section 6.The Tr�asurer of the Housing Authority and the Treasurer of the Agency
shall cooperate to establish such special account or accounts as may be necessary or
desirable to effectuate the purposes of Sectlons 4 and 5 hereof.
�.
Section 7.The obllgation of the Agency to pay amounts to the Housing Authorlty
pursuant to Sections 4 and 5 hereof shall be subordinate to any obligations of the Agency to
pay debt service on bonds heretofore or hereafter issued and which are payable from the
Agency's low and moderate income housing fund.
Section 8.The Secretary of the Housing Authority Is hereby authorized and directed to
deliver a copy of this Resolution to the Agency and to the T�easurer of the Agency.
PASSED, APPROVED AND ADOPTED this 9th day of March, 2006
AYES: BENSON� CRITES, KELLY, SPIEGEL, and FERGUSON
NOES: NONE
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ABSENT: NONE
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PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: DETERMINATION THAT PLANNING AND ADMINISTRATIVE COSTS
INCURRED DURING THE 2005-2006 FISCAL YEAR ARE NECESSARY
FOR THE PRODUCTION, IMPROVEMENT, AND /OR PRESERVATION
. OF LOW AND MODERATE INCOME HOUSING
SUBMITTED BY
DATE:
Recommendation:
By Minute Motion, that the Agency Board determines that planning and
administrative expenses incurred for Fiscal Year 2005-2006 were necessary for
the production, improvement, andlor preservation of low and moderate income
housing.
Discussion.
California Health and Safety Code Section 33334.6 (d) legislates that the Agency shall
determine annually that planning and administrative expenses are necessary for the production,
� �mprovement and preservation of low and moderate income housing in the project areas and
throughout the City.
preservation of the low and moderate income housing in the City. �� �� ;� �•
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Submit� by: Department Head: ' ' •
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Ja t M. Moore �ave Yri :: I � I �.
Housing Authority Administrator Direct f RedevelopmenUHousir�g ;� �� °;
The Agency annually incurs such costs because the housing programs, adopted and budgeted,
cannot be implemented without staff and the necessary consultants. Consequently, staff is
recommending that the Agency Board determine that the planning and administrative expenses
incurred for Fiscal Year 2005-2006 were necessary for the production, improvern nt and
JMM:pI
Approval:
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ust McCarthy
AC Redevelop ent
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JANET M. MOORE, HOUSING AUTHORITY ADMINISTRATOR
NOVEMBER 16, 2006
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Executive Director �
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PALM DESERT REDEVELOPMENT AGENCY
MEMORANDUM
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TO:
FROM
DATE
EXECUTIVE D{RECTOR, HONORABLE CHAIRMAN AND MEMBERS
OF THE PALM DESERT REDEVELOPMENT AGENCY
DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT/HOUSING
DECEMBER 26, 2006
SUBJECT: PROJECT STATUS REPORT FOR FISCAL YEAR ENDING
JUNE 30, 2006
Pursuant to Section 33080.1 of California Heaith and Safety Code, the Redevelopment
Agency must submit a report to be included with the Annual Report, provided under this
section, to update the status of projects. The following report outlines the projects that the
Agency continued, started or completed during the fiscal year. Some of these projects
appeared on last year's report as they were started, or will appear in upcoming years'
reports as they are completed.
Through the use of tax increment, the Palm Desert Redevelopment Agency has been
successful in alleviating blight in all of the redevelopment project areas. The Agency has
continued its efforts by developing or assisting in the development of parcels that are non-
conforming or have incompatible land uses. These have included such needs as
constructing public facilities and any projects that impact the general health and safety of
the residents within both the city and the redevelopment project areas. The Agency
continues to demonstrate the commitment to Palm Desert residents and the Health and
Safety Code by alleviating blight with the following projects.
Living Desert Parking
1/22/04 Purchased an easement to provide public parking for the utilization of
environmental and cultural programming at the Living Desert Zoo and
Gardens, as well as access to recreational activities. Jobs Generated:
Provided employment for fifteen people.
FY 2005/2006 Expenditures $ 250,000
Agency Budgeted Amount $ 1,250,000
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Palm to Pines East
`
03/25/04 Revitalization efforts in the City of Palm Desert's central business district
along the Hv►ry 111 corridor. Renovation includes facade enhancement,
business infill, public parking improvements, landscape and lighting. The
Agency is partnering with a private development entity to accomplish
improvement plan. Provided employment for approximately fifty-five people.
FY 2005/2006 Expenditures $ 1,419,114
Agency Budgeted Amount $ 2,157,820
Wallaroo Children's Center
03/25I04 Agency acquired the building space previously known as the "Wallaroo
Children's Center' assisted in renovation and leased to the Desert Sands
Unified School District for the purposes of an early childhood education
center.
FY 2005/2006 Expenditures
Agency Budgeted Amount
�
20-Acre Housing Development
$ 49,197
$ 65,000
2004/2005 The 20-acre housing development encompasses 93 single-family residences
known as Falcon Crest and 27 senior units known as the La Rocca Villas.
The Agency solicited competitive bids, selected a developer to act as the
Agency's representative, and negotiated a development agreement.
Construction began on the four model homes and Phase I of both Falcon
Crest and La Rocca Villas. Provided employment for approximately forty
people.
FY 2005/2006 Expenditures $ 6,804,853
Agency Budgeted Amount $25,000.000
University of California Riverside
2004/2005 Granted a loan to the University of California Riverside for infrastructure and
commencement of construction on the educational facility to be located in
the City of Palm Desert, but service the entire Coachella Valley and
surrounding Desert Communities. Provided employment for approximately
one hundred people.
FY 2005/2006 Expenditures $ 3,000,000
Agency Budgeted Amount $ 3,000,000
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Aquatic Facility
�
03/31 /04 Authorized consultants to design a public pool recreational facility to be
utilized by residents of the entire Coachella Valley.
FY 2005/2006 Expenditures
Agency Budgeted Amount
Storm Drain Improvements
$ 6, 700
$ 614,450
10/9/03 Storm drains were installed at Warner Trail. Infrastructure to facilitate the
conveyance of storm water Project Area No. 4 into the Whitewater Channel.
Jobs Generated: Provided employment for approximately sixty people.
FY 2005/2006 Expenditures $ 164,262
Agency Budgeted Amount $ 3,200,000
--
Catalina Community Room
12/06/04 Construction began and is 90% complete. The Catalina Community Room is
for use by the senior complexes for recreational activities to include
socialization, technology education, and accommodation of additional social
activities. Provided employment for approximately five people.
FY 2005/2006 Expenditures $ 782,189
Agency Budgeted Amount $ 1,500,000
Desert Willow
2004/2005 Authorized reimbursements to Desert Willow for implementation and
construction of capital improvements to the Desert Willow Golf Complex.
Jobs Generated: Provided employment for approximately fifteen workers.
FY 20Q5/2006 Expenditures $ 146,584
Agency Budgeted Amount $ 3,005,582
Fred Waring Drive Widening
1/22/04 Facilitated the installation of all necessary infrastructure forfuture Coachella
Valley well site. Provided employment for approximately forty workers.
FY 2005/2006 Expenditures $ 808,278
Agency Budgeted Amount $ 2,000,000
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Regional Park
�
2003/2004 Finalization of park master plan, initiation of construction documents, and
contracted with a firm for construction management. Provided employment
for approximately forty people.
FY 2005/2006 Expenditures $ 1,025,586
Agency Budgeted Amount $ 8,282,178
Entrada del Paseo
2004/2005 Completed construction and opened the 8,200 sq. ft. Visitor Information
Center. Landscaped the area around the center, and commenced design of
another 2.5 acres of landscaping. Completed design of Henderson
Community Building and entered into DDA to sell a finished pad for
development of a high-end Italian restaurant. Provided employment for
approximately five woricers.
FY 2005/2006 Expenditures $ 3,217,358
Agency Budgeted Amount $13,000.000
Portola Bridge
`, 2005/2006 Began construction of a new 447-foot long four-lane bridge over Whitewater
Channel between Quicksilver Drive and Magnesia Falls. The bridge will
improve safety by improving the stopping sight distance and will eliminate
any closures during heavy rainstorms that occurred in the past. Provided
employment for approximately three hundred forty-three workers.
FY 2005/2006 Expenditures $ 2,164,189
Agency Budgeted Amount $ 4,000,000
Undergrounding - Project Area 1
2004/2005 Agency will contribute 50% to the Palm Desert Highlands undergrounding
project in the 2006-2007 fiscal year. No workers were employed on this
project as of June 30, 2006.
FY 2005/2006 Expenditures $ 0
Agency Budgeted Amount $ 4,500,000
Undergrounding - Project Area 4
2004/2005 Agency will contribute funds to future undergrounding projects located in
Project Area 4. No workers were employed on this project as of June 30,
2006.
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FY 2005/2006 Expenditures $ 0
Agency Budgeted Amount $ 6,500,000
Housing
Laguna Palms Apartments
711 /03 Acquired an existing multi-family complex that posed substandard conditions.
Property has been undergoing interior and exterior renovations. Resumed
interior renovations and to date have completed 21 units. Completed tree
removal project. Underwent utility undergrounding to update electrical plan,
gas service lines, and phone and cable conduits for the entire complex.
Inquiring as to photovoltaic energy possibilities. In the process of soliciting
bids for exterior renovation that included facade, roofs and site
improvements. Units to remain affordable for 55 years. Approximately eight
employment opportunities.
FY 2005/2006 Expenditures $ 426,294
Agency Budgeted Amount $ 2,044,300
�
California Villas Apartments
5/22/03 Acquired as an existing multi-family complex that posed substandard
conditions. Property has been undergoing interior and exterior renovations.
To date, the interiors of 120 units have been completely upgraded with the
remaining units to be completed by mid-2007. Phase "A" improvements for
the exterior element renovations was awarded March 2006 and renovations
are well underway (expected completion of this phase is January 2007).
Exterior items that have been completed are block window infill, utility room
building demolition, re-plumbing of existing water heaters, new roof
replacement, dual pane low "e" window replacement, and exterior texture.
Phase B site improvements will be awarded to lowest responsible bidder and
is scheduled to begin early 2007. Currently are looking into photovoitaic solar
energy and other energy conservations implementations. Under current
renovations, several energy efficient items have been incorporated such as
increased insulation, dual pane windows, etc. Units to remain affordable for
55 yrs. Approximately twenty employment opportunities were created from
this development.
FY 2005/2006 Expenditures $ 868,447
Agency Budgeted Amount $ 9,099,044
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Palm Village Apartments
�.
2004/2005 Palm Village Apartments is a new project that is nearing completion of
construction for a muiti-famiiy complex that will produce 36 rental units of
affordable housing to very low and low-income households. During FY
2005-06, the project has gone from the framing phase through the exterior
lathe work done. Established wait lists for two (2) bedroom units will assist in
completing occupancy. Units to remain affordable for 55 yrs. Approximately
120 employment opportunities were created from this development.
FY 2005/2006 Expenditures $ 3,939,215
Agency Budgeted Amount $ 5,917,021
�
Acquisition and Rehabilitation Program
7/1/04 Provided financial assistance for the acquisition of substandard homes and
rehabilitation in order to resale to very low, low, and moderate-income
households and preserve affordable housing availability. During this year,
two (2) homes, referred to as San Marino Property and Goleta Property,
were assisted through this program and rehabilitation is underway to bring
both homes to code standards and make them available for homeownership
for a moderate and a very low-income family. Desert Rose project consisted
of 11 resales of which were also provided financial assistance to preserve
affordable for-sale housing availability. Approximately one employment
opportunity was created from this development.
FY 2005/2006 Expenditures $ 966.381
Agency Budgeted Amount $ 1,205,905
Home Improvement Program
1997 The program has been successful, and continues to offer a variety of grants and
loans to very low, low, and moderate income, and has grown dramatically,
improving homes and neighborhoods throughout Palm Desert. This program has
helped households that woutd otherwise not be available to maintain and improve
the current housing condition or help with code violations. In addition, due to the
growing demand of the program, the Agency has contracted Rancho Housing
Alliance as the Program Administrator to manage the program. Approximately
seventeen employment opportunities were created from this development.
FY 2005/2006 Expenditures
Agency Budgeted Amount
$ 57,243
$ 318,756
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Country Village Apartments
�
Sept 2005 Acquired the 66-unit property on September 30, 2005 in order to improve the
property's deteriorated state and transition to affordable units. Completed
improvements that incfude laundry room upgrades, replacement of electrical
ground fights. Assessing the existing condition of the property. Certifications
of applications submitted by existing tenants have been reviewed for
eligibility. The Agency is seeking professional services to assist in evaluating
the development potential for the property. After compfetion of the srte
renovations, these units will remain affordable for 55 yrs. No workers were
employed as of June 30, 2006.
FY 2005/2006 Expenditures $ 4,624,719
Agency Budgeted Amount $ 4,664,469
Falcon Crest and La Rocca Villas
July 2005 Provided financial assistance to the development for the construction of 93
new singfe-famify homes to remain affordabie for 45 yrs. and 27 new ssnior
apartments, to remain affordable for 55 yrs. On July 14, 2005, completion of
this work was awarded to a developer.
The goal for Falcon Crest is to have model homes ready by early 2007 and
._
the project to be fuf(y compfeted by early 2008. Construction of the site
currently received the final precise grading plan approval and permits have
been issued.
Final construction design development drawings for La Rocca Senior Villas
have been received from architect. Stiff pending is the evafuation of fire
protection. The goal for La Rocca Senior Villas is to be fully completed by
the end of 2007. Approximately forty employment opportunities were created
from this development.
FY 2005/Z006 Expenditures $ 6,804,853
Agency Budgeted Amount $25,000,000
G�RDA�Ana ScomWa�a F�iss�RepoRs�Mn Rept Leq�s� BoaylAnnua� Report 06 F�n�i.tla
CONIBACT H0. R23210
�
PALM DESERT REDEVELOPMENT AGENCY/CITY OF PALM DESERT
DEVELOPMENT SERVlCES
STAFF REPORT
�
REQUEST:
SUBMITTED BY:
DATE:
CONTENTS:
Recommendation:
AWARD OF CONSTRUCTION CONTRACT FOR FREEDOM
PARK( PROJECT NO. 713-00)
JAY NIEMCZAK, PARKS MAINTENANCE SUPERVISOR
MARCH 9, 2006
1. CONSTRUCTION
2. CONSTRUCTION
3. CONTRACT
By Minute Motion:
ESTIMATE DATED APRIL 15, 2005
ESTIMATE DATED DECEMBER 28, 2005
Authorize the Executive Director to enter into a contract with James E. Simon
Company of tndio, California in an amount not-to-exceed $9,769,276.00
($7,186,115 from Project Area No. 4 and $2,338,961 from Project Area o. 2)
for the construction of Freedom Park; �sy- 5�� 7�' �S�- �o/
2. Authorize the Finance Director to set aside a 5% contingency in the amount of
$488,464 from Project Area No. 2(use of contingency re quires dditional
action); 8s/- '�G7�- ysi�- y�-vbJ
3. Approve an appropriation of $244,200.00 from Public Works Unobligated Fund
232, Zone 3 Drainage; and -? 3 � - � �% � - �S �� �l. o /
4. Approve an appropriation of $2,827,425.00 from Project Area No. 2
Unobligated Project Funds. gS J- y6�0 -- y,s�.�l_ �LOD %
Executive SummarX:
�
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The Palm Desert Redevelopment Agency purchased land for a regional park (Freedom
Park) on the north side of Palm Desert on Country Club Drive. In July of 2003, the Agency
entered into an agreement with David Evans and Associates to complete the park master
plan, identify construction cost estimates, and to devetop construction documents for
Freedom Park.
Staff Repo�t
Award of Contract for Construction of Freedom Park
March 9, 2006
Page 2 of 3
In December 2005, City Staff requested sealed bids for the constnaction of Freedom Park.
Bids were opened on February 15, 2006. After reviewing the bids, Staff recommends that
the Redevelopment Agency Board authorize the Executive Director to execute a contract
with James E. Simon Company in the amount not to exceed $9,769,276.00, plus a 5
percent contingency to compfete the construction of Freedom Park.
Discussion:
On July 10, 2003, the Palm Desert Redevelopment Agency and David Evans and
Associates entered into an agreement for development of the Freedom Park Master Plan,
to identify cost estimates, and for completion of construction documents. The construction
cost estimates were to help guide the City's Planning Department in the development of
the construction budget.
In July of 2005, Pa�ics and Recreation Staff
project. Staff proceeded with the finalization
process, and constructability review.
On December 26, 2005, City Staff requested sealed bids for the construction of Freedom
Park based on the latest construction estimate from David Evans and Associates. The
estimate, dated April 15, 2005, was $7,529,417.09. The scope of the project did not
change after this date.
were asked to complete the Freedom Park
of construction documents, the plan check
On December 28, 2005, Staff received an e-mail from David Evans and Associates with an
updated construction estimate of $9,210,185.28 for the Freedom Park project (see
attached estimates). Staff immediately requested that David Evans and Associates Staff
explain the substantial increase in construction costs when the scope of the project had
not changed. The response was that a majority of the irrigation and landscaping costs
were not included in the original construction estimate. There had been no changes, it was
just a mistake and not included in the previous estimates.
Bids for the project were received until 2:00 pm on February 15, 2006. Three proposals
were received. The following are the results of the bid opening:
1. James E. Simon Co., Indio, CA
2. Environmental Construction Inc., Canoga, CA
3. Griffith Company, Santa Ana, CA
$ 9,769,276.00
$12,931,077.50
$14,893,500.00
�
�
Funds are currently available in the Redevelopment Agency Account No. 8544670-454
4001 in the amount of $7,186,115. Staff recommends appropriation from Unobligated Fund
232, Zone 3 Drainage (for the soccer field subsurface improvements). In addition, Staff
recommends appropriation of $2,827,425, from Project Area No. 2 Unobligated Project
Funds, be approved to this account. ..�
st�t� RePort
Award of Contract for Conatruction of Freedom Park
March 9, 2006
Page 3 of 3
After carefutly reviewing the qualifications of these companies, Staff recommends the
Agency Board authorize the Executive Director to execute a contract with the lowest, most
responsive bidder, James E. Simon Co.
Submitted By:
� �f
Ja emafak
s Maintenance Supervisor
Approval: �
.
Homer Croy
ACM for Dev o ent
Services
.-- % /► �
Dave Yrig n
�" Director RedevelopmenUHousing
_--� :�
Carlos L. Ort a
City Manager/Executive Director
Director of Finance
�ITY COUNCIL ION:
APPROVED
::ECE I VED
1�ETI �
:�YES :
f iOES :
t1BSF.NT :
;�IISTAIN: ,
VERIFIED BY:
Original on File
DENIED
OTHEF
City Clerk' s Of fi,,E
���I1�1,�,! � ,
. • �
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•
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Department Head:
/ �
��
J is Steele
rks and Recreation Services Manager
RESOLUTION NO. 496
�
� A RESOLUTION OF THE PALM DESERT REDEVELOPMENT
AGENCY ADOPTING A FIVE-YEAR IMPLEMENTATION
PLAN FOR THE AGENCY'S REDEVEL4PMENT
PROJECT AREAS; AND ADOPTING THE AFFORDABLE
- HOUSING PRODUCTION PLAN, AND MAKfNG FINDINGS
APPROVIN�3 THE AOGREGATION OF NEW OR
SUBSTANTIALI..Y REHABIUTATED DWELLING UNITS
AMONG THE PROJECT AREAS
WHEREAS, Section 33490(a)(1)(A) of the Califomia Community
Redevelopment Law, Heafth and Safefiy Code 33000 et.s�q. (`Lavw') requires all
redevelopment agencies to adopt an Implementafion Plen every five years,
following a duly noticed public hearing. and
WHEREAS. Section 33490(a)(1 xA) requires thet the Implementation Plan
oontain the spec�c goafs and objectives of the agency for the project areas, the
spec�fic programs, induding potentiai projects, and estimated expenditures
proposed to be made during the next flve years, and an explanatbn of how the
goals and objectfves, progrems. and expenditures will eliminate blight within the
project areas and implement the requirements of Sections 33334.2, 33334.4,
33334.6, and 33413 of Law, and
�'- WHEREAS, pursuant to Section 33490 of the Law. the Palm Desert
Redevelopment Agency ("Agenc�'} has prepared a Five-Year Implementation
Plan, including a Ten Year AfFordable Housing Complianoe Plan, fior Project Area
No. 1(Original and Added Territory)� Project Area No. 2, Pnojact Anea No. 3 and Project
Area No. 4, contained herewith as Exhibit A, and
WHEREAS, Sedion 33413(b)(2)(A)(v) authorizes the Agency to aggregate new
or substan�ally rehabil'rtated dw�elling units in one or moro projed a►+eas if the Agency
finds, based on substan�al evidenoe, after a public hearing, that the aggregation erill not
cause or exaoerbate radal, ethnic or eoonomic segragation, and
WHEREAS. the Agency held, on November 18� 2004, a noticed public hearing
reganling the Implementa�on Plan and negarding the aggregation of new or substanfially
rehabilitated dw�elling units in Project Area No. 1, As Amended, ProjecY Area No, 2,
Projed Area No, 3 and Project Area No. 4, and
WHEREAS, substantial evidenoe has been p�ese�ted to the Agency which
demonstrates that:
A. The population of the City of Palm Desert is 88.19% white; 1.1 % Black;
20.47% Hispanic; 2.25% Asian; and approximately 6.34% of the Palm
Desert population is of some other raoe. The distribution of raaal and
ethnic groups is further detailed by Project A�ea in the attached Exhibit 1.
The data provided in Exhibit 1 demonstrates that the racial makeup of
each Project Area, with the exception of Project Area No. 2, is like that of
RESOLUTION NO. 496
`
the City itseff. However it cannot be assumed that raaat, ethnic or
economic segregation has developed or will be exacerbated. The ._
population of Projed Area No 2 is 92.76°� white; 1.219�o Bladc; 12.10%
Hispanic; 2.04°� Asian; and approximateiy 2.6°� of Project Area No. 2 is of
some other raoe. As Project Ar�ea No. 2 has the sma(lest cument
population of any Project Area and the majority of devebpable land for
housing of any Project Area it can be inferned that as this Projed Area is
buitt out, it will take on the demographlc characteristics of the City much
like the otfier Projed Areas which have already seen significant �
development. -
B. The median �amily income and peroentage of families living below the
medtan lnoome for the City of Palm Desert is documented for each
Projed Area and the City itself in Exhibit 2. This exhibit details the
inoome charaderistics for both 2000 and 2004 popula�ons. The
percentage increase of families in each Pmject Area with incomes below
the City's median income fmm 2000 through 2004 is ovnsistent with tfie
increase fior the City itself, with the exoaption of Projed Ar+ea No. 2. As
Projed Area No. 1(Original and Added Anea), Proje�t Area No. 3 and
Projed Area No. 4 are consistent wfth the City in their median inoome
levels and percentage of popula�on living below the City median inoome
it is dearly evident that the aggregaHon of units will not cause or
exacerbate racial� ethnic or eoonomic segregation. Projed Area No. 2
has yet to benefit from substantial hous�ng development and in fact has
the greatest amount of developab{e land of any P�ject Area. An
estimated 2,787 units can be constructed. Many of these un'ds would b,e
reserved for very low, tow and moderate income famiAes. In fad,
aggreyation will have little effect in Project Area No. 2 as most housing is
to be devebped in this Projed Area and the ef%cx of such development
will be to more evenly distribute raoe, ethnic.ity and inoome.
C. Each Project Area is of a different size and shape, each has its awn
capaaty for housing development. Presentty, a majority of developable
land for residential units is available in Projed Area No. 2 where
approximately 2,T67 units can be constructed. Projed Area No. 1
(Original and Added Terrftory) is seoond with a potential 7T7 unita; Project
Area No. 3 follows with 554 potential units and Project Area No. 4 has the
potential for an additional 76 units. The remaining un'its to be construded
in Project Area No. 1(Original and Added Area), Projed Area No. 3 and
Project Area No. 4 will continue to mimic the raaal, ethnic and income
characteristics of the City and Project Area. Project Area No. 2 which has
the vast amount of potential units will see the most signiflcant change in
its racial, ethnic and eoonomic structure. However this change will not
cause or exacerbate racial, ethnic or economic segregation but will in fad
lead to a more diverse a�ea mimidcing that of Project A�ea No. 1(Origina!
and Added Area), Project Area No. 3. Project Area No. 4 and the City
itseif.
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�
RESOLUTION N0.496
�
WHEREAS, the Agency seeks more flexibility to assist affordable housing units
in various areas within the City of Palm Desert.
NOW, THEREFORE, the Palrr� Desert Redevebpment Ager►cy does herieby �nd,
determine and resolve as follows:
Section 1. The Agency hereby adqpts the Five-Year Implementation Plan
for Project Area No. 1(Original and Added Territory), Project Area No. 2, Project Area
No. 3 and Projed Area No. 4, attached hereto as Exhibit A.
Section 2. Based on information and testimony presented to the Agency, the
Agency hereby finds, in accordance with Catifomia Heaith and Safety Code Section
33413(b)(2)(A)(v), the aggregation of new or substantially rehabilitated dwelling units in
Projed Area No. '1 (Original and Added Temtory), Projed Area No. 2, Project Area No. 3
and Project Area No. 4 will not cause or exacerbate racial, ethnic or eoonomic
segregation. , �
Adopted at the regular meeting of the Palm Desert Redevelopment Agency on the
18th day of November, 2004, by the following vote to wit:
AYES:
NOES:
ABSEMT:
ABSTAIN:
ATTEST:
BF.NSO>, CBITSS, FERGUSO�T, [Q.LY and SPI�GSL
11ol1E
�OxE
�o�
/7/•��r!/
Robert A. Spiegel, airrt�n /
�
�� G�1
Ra e e D. Klassen, Secretary �
RESOLUTION N0. 496
L�J
Total Population
White Alone
. Bladc Alone
American Ind/Alask
Asian Aione
HawaiiaNPac. Island
Ott�er Race Alone
Two or More Races
Total
PA No.1 PA No. 2 PA No. 3 PA No. 4 Palm Desert
25312 Z306 2573 10500 58587
84.61 % 92.76g6 91.28% 87.81 % 88.19%
1.129'0 1.2196 1.4496 1.4096 1.10%
0.5696 0.17% 0.3596 0.3596 0.41 %
2.7196 2.0496 2.10% 2.1196 2.25%
0.1596 0.0496 0.009'0 0.0696 0.0996
8.40% 2.39% 2.7696 5.6296 5.8496
2.45% 1.3996 2.1096 2.6596 2.1096
100.0096 100.0096 100.00% 100.0096 100.00%
P�rsons of Hispantc Ori�in (My Race)
Hispanic 26.5596 12.10% 16.36% 18.70% 20.47%
, , ...+j t�i. � � , a. .. 1• .�..-�, � � ', y• '�.�.
. ��� ,1fy,t ": �' .S �'i; `��f(.,,�-.� � .:. 'i =XS .•�` , 'f'.�r:.',i:: t���+��.{`.y;it�"������.�.4_ •<:
. . �t �e�' .. %. .�n . i�:�:x•o`t (, . .
Ana No. 1 Arsa No. 2 Ana No. 3 Ana No. 4 City ot Palm Dos�rt
M�dian Incom•
2000 $44,343I s63,8001 550,171I 546,556I 546.785
2004 547,743 $69,326 553,379 S50,793 550,594
•�G of Households bNow City ot Palm Dos�rt Median Incoms
2000 50.6296 33.5096 45.5396 48.73%
2004 51.9396 34.75% 47.1196I 49.3196I
48.29°�
49.44°�
0
� �
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4
RESOLUTION NO. 496 EXHIBIT "A"
�
� Palm Desert Redevelopmer�t �qency -
0
iF 74
Thind Fin�-Yea� Implement�ion Plan
(�r o� t�r�ougn 200�;-09)
■ Project Area, No. 1
■ Project Area No. 2
■ Project Area No. 3
■ Project Area No. 4
.�--
Adopted ���_ �s , 2004
Palm C�eSer�t RedeveloprnentAgency
73-510 Fred Waring Drive
Palm Desert, CA 92260 �
• RSG
INT[LLIO[NT COMMYNITY D!VlLO�MfNT
ROSENOW SPEVACEK GROUP INC.
309 West 4th Street
Santa Ana, Califamia 92701�502
Phone: (714) 541-4585
Fax (714j 541-1175
E-Mail: inf w�eDrsa.00m
RESOLUTION NO. 496
� REDEVELOPMENT AGENCY BOARD
Robert A. Spiegel, Chairperson
Buforcl Crites, Vioe Chairperson
Jean M. Benson, Agency Member
James Ferguson, Agency Member
Richard Kelly, Agency Member
REDEVELOPMENT AGENCY STAFF
Ca�los L. Ortega, Executivie Dir�sctor
Wlliam Strausz of Richarrfs Watson 8� Gershon, Agency Attomey
Justin McCarthy, Assistant City ManaBer/Redevelopment
Paul S. Gibson, Finanoe Diiector?reasuier
PAGE 2 OF 74
David L. Yrigoyen, Di�ctor of Redevelopment & Housing
Janet M. Moore, Housing Authority Administrator
Rachelle D. Klassen, City Cleric
Dennis M. Coleman, Redevelopment 8 Housing Finanoe Manager �
Jose Luis Espinoza, Assistant Finanoe Diredor
Lauri Aylaian, Redev�lopment Manager
Catherine Walker, Senior Managemenf Analyst
�
�
�
RE30LUTION NO. 496
�- Third F'�v�e-Yea�r Implernenta�ion Pfan
-�-- � Palm Desert Redevelopment Projeds
PAGE 3 OF 74
Introduction.................................:................................... • • •..................................1
Contents of the Implementation Plan ................................................................... 2
Background......................................................................................................... 2
Project Area No. 1(Original and Added Territory) ................................................ 7
.
Anticipated Planning Period Projects and Programs ..............................12
Five-Year 8udget ...................................................................................16
ProjectArea No. 2 .............................................................................................18
Anticipated Planning Period Projeds and Programs .............................. 22
Five-Year Budget ................................................................................... 25
*— Project Area No. 3 .......•...27
. ..................................................................................
Anticipated Projects and Programs ........................................................29
Five-Year Budget ................................................................................... 31
ProjectA�ea No. 4 ............................................................................................. 33
Anticipated Projects and Programs ........................................................36
Five-Year Budget ................................................................................... 38
Aaaendices
Appendix 1— Affo�dable Housing Complianoe Plan
RESOLUTION NO. 496
Third F'nn�Ye�r Impleme�r�a�iion Plan
Palm Desert Redevelopment Projeds
This document is the third F'nre-Year Implementation Plan for the Palm Desert Redevebpment
Agency (the "Agency") of the Ciry of Palm Desert (the "City") for flscal years 2004-20051firough
200&2009. This is the Agency's third implementation plan propared sincs the enactment of
Assembly Bill 1290 which amended the Califomia Redev�elopmerrt Law by addin� Section
33490. The Implementation Plan is divided into two separate components: a non-housi�g or
redev�etopment comportent artd a housrng compor�ent, which is presented as the Affadable
Housir�g Compliance Plan attached to this Implementation Plan as Appendix 1. Section 33490
requires that each redevelopment agency, which has adopted a redevelopment plan prior to
December 31, 1993, adopt, after a public hearing, an implementation plan that oontains the
spec�c goals and objedives of the agency for its project a�a(s). The implementation plan
must identify the specific programs/projects and expenditur�es proposed to be made during the
five (5) year term of the implementation plan; provide an exp{anation of how tfie goals and
objedives, programs, and expenditu�es will eliminate blight within the agency's projed area(s);
and implement the housing r�equirements oontained in the Law. Pursuant to Section 33490, the
implementation plans, wher�e required, were to be adopted no later than Deoember 30, 1994
witfi subsequent irmplementation plans adopted each five (5) years thereaftsr.
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The City Council of the City of Palm Desert took action in October of 1974 to establish the Palm --�
Desert Redevebpment Agency. With this action the City embarked on a comp�+ehensive ef'�ort �-
to eliminate blighting and adverse canditions within the City. The focus of the City's .
revitalization efforts has been channeted through the adoption and implementation of its
Redevelopment Plans. The Agency's first �edevelopment project area, Project Area No. 1, was
adopted in Juty of 1975 and subsequently amended in 1982 to add territory. Since then, the
Agency has adopted three (3) additional r�edevelopment projed areas; Projed Area No. 2—
established in 1987; Project Anea No. 3— established in 1991; and Project Area No. 4—
established in 1993. The Agency has accomplished numerouz redevebpment, development,
and infrastn�dure projects that have revitalized many properties within all of its Projed Areas.
The Agency has also made a substantial effo�t to improve and incr�ease tfie City's "supply of �
affordabie housing. The Agency has four (4) adopted redev�elopment projed areas
encompassing an estimated 11,771 acres of the City's incorporated territory.
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PAGE 4 OF 74
ROSENOW SPEVACEK GROUP. INC. PAGE 1
RESOLUTION NO. 496 PAGE 5 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PIAN
PALM DESERT REDEVELOPMENT PROJECTS
_ CONTENT'S OF THE iMPL�fTAT10N PLAN
Section 33490 of the Califomia Community Redevelopment Law ("Law') requires that the
Implementation Plan include the following infoRnation:
• specific goals and objedives of the Agency for the Projed Areas
� the spec�c programs, including potential projects, and estimated e�enditures proposed
to be made during the next five yaars, and
■ an exptanation of how the goals and objedives, programs, and e�enditures wilt
eliminate blight within the Projed Areaa and will improve and increase the supply of
housing afFordable to very low, 1ow, and moderate income housefiwlds.
The Law also requires that the Implementation Plan address the Agency's affordable housing
production needs and achievements; these ibams are specfically addressed i� the Affordable
Housing Complianoe Plan, which is found at the end af this Implementation Plan.
The Agency was established pursuant to the Califomia Community Redevelopment Law, Health
8 Safety Cade Sedion 33000 et seq. (the "Law"j. The City Councif adopted Ordinance No. 53
on Odober 24, 1974, which activated the Agency. Tha Agency is gov+emed by a fiv�e (5)
rnember board, which oonsists of all members of tfie City Council. The Mayor, who acts as
�,.,. Chairperson of the Agency, ls appointed by the City Counal. Aa previously stated, the Agency
has four (4) adopted redev�elopment project areas encompassing an esdmated 11,771 acnes of
the City's incorporated territory. The Agenc�s four (4) redevebpment project a�eas are Project
Area No. 1(the Original and Added Territory), Project Area No. 2, Project Area No. 3, and
Project Area No. 4(calledively r�eferred to as the "Pnojed Areas'). Over the past 28 years, the
Agency has accomplished numerous redevelopment, development, and infrastructune projects
tfiat have revitalized many prope�ties witfiin all of its Projeet Areas.
In December of 1994, the Agency adopted its first Five-Year Implementation Plan (FY 1994-
1999). The second Five-Year implementation Plan was adopted 'n Deoember of 1999 (FY
1999-2004). Both Five-Year Implementatwn Plans cover the four (4) adopted redevelopment
project areas that encompass an estimated 11,771 acnes of the CPty's incorporated territory.
Additionaly, pursuant to the requirements of the Law, the Agency has held a mid-tertn public
hearing on the progress of each Five Year Implementation Plan and has subsequently prepared
a Progress Report for each plan.
ROSENOW SPEVACEK GROUP, INC. PAGE 2
RESOLUTION NO. 496
PAGE 6 OF 74
TNIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
A map of Ihe Projed Areas is prese�ibed on Fgur�e 1 bebw:
Palm Desert Redevelopment Agency
Project Areas
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ROSENOW SPEVACEK GROUP, INC. PAGE 3
RESOLUTION NO. 496 PAGE 7 OF 74
THiRD FlVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
�- � uMrra�noNa
i
' Each Redevelopment Project Area is subject to its own time and financial limits as requi�ed by
the Law. These limitations are summarized below.
Table 1 summarizes the time and financial limits in the Redevebpment Plans for the Project
Area.
TABLE 1
PALM DElERT REDEVELOPMENT AOENCY
•.: - .. .
Pa� u�� o�t�.i ��.. �aa.a r.� P►q.a n�.. No. 2 ��t ��.. No. � Pro�et Ana No. 4
D�M of/ldopbn Juty fa, fQ73 Nowmb�r25, l�DJ Juy 7S, 1DS� July 17, 10�1 JWy 1�. 1903
E1beUv�ss oi Pir✓1/2
Tax Irw�n�n1
dond�d D�bt Limk /3
�
UmK to Inar D�bt
Llmil on WodMnp Tax
tnaym�nt �nd Payinp
IrW�bf�dn�ssl2
JuN 1S. 2018
=75D,OOO.00d'
Norr
Ehmin�t�N4
JuIY 16, 2Q26
Nov�mb�r 25, 2022 I JuM 1 S. 202e
ssoo,000,000 n
i200,000,000 /S
EMmin�t�d/4
NowmbW 25, 2032
=aoo,000,00as
i150,000,000/S
Elimin�t�dl4
July 15, 200i
JuM 17, 2072 Julr 1�, 2034
seo,000,000n i�oo,000,000 n
100,000,OOOf� =d00�000,000 Graa
=1�5,000.000/3
Elimitibd/� EknifahN4
July 17. 2042 I July 19, 2044
1. PuraurK b As��h1y e11 t2l0 aN p� t9s� , , prvMoh v�n tiqut�d to �dopt ap�olllc t1n� inRMkar. On G�o�n�r t. t 904 th� clly
Couic! adopMC M+� r�WY+N OrdYw�as �M�bMhhp suah IYrrb 11or �h P�bpd Ana
2 Purwwnt b Su�w Bi1 10�,5 (Sltlutw d 2000, Ch�pfr 1r0), vM�ich w�s ��d YMo Iw in S�pl�nbw ol 2003. � CRy Car�ei w� hw� ri� abl�r b
oA�nd yeh Proj�i Arw Pl�n's �ff�ctMnws ta ri� tYm p�bd b oo1�e1 t�c Inonrtrnt by ar y�.
3 T�x hm�rtwit up anNor bondW d�bf IM Y woluNv� d�ts p�fd !o ttKkp ap�neMs wM w��M d snanb P�M1 dlsefN a hdr�CM�r bY M
�r o►•�r �w �r m ti+.�w r�. aoq�iwm a wia, oawaua�on d w�dkq., ac�f.s, fln,aax.s ar . .1b► wu, e�drq .yricw.
4 Pu�R to S�trM 81N 2t 1(S1M�� a( 200t Ch�ptw 7�1) IfN Cky Car� �dopt�d 1h� trqW�d Ordl�rno� �nntwtq tw P�eJ�ot N�a
R�d�wlopmwit PIuM to MYml��b YM ttn� inb b Yrcur Mbl.
S. Amounts �dkiM�d �nnuMY b!� Consurrw Prfoe le�x fCPI)
su�n�c co�aro�s
Redevelopment projeats are established to remedy condiqons of blight as defined by the Law
that is in effect af the time a►edeveloipment proj�ect is adqpted. The Law's definition of what
constitutes blight has changed substan�ally since the Projed Areas were established in 1975,
1981, 1987, 1991 and 1993. The Law's cument b(ight definition is set forth befow:
UnsafelDilapldatedlDete�ior�tsd Buildings. Buildings in which it is unsafe or
unhealthy for persons to live or woric. These conditions can be caused by serious
buitding code violations, dilapidation and deterioration, defective design or physical
construction, fauity or inadequate u�lities, or other similar fadors.
• Physical Conditlons that Limit the Economic Viab111ty and Use of Lots/Buildinps.
Factors that pnevent or substantially hinder the economically viable use or capaaty of
buildings or lots. This condition can be caused by a substandard design, inadequate
size given present standards and market conditions, Iadc of parking, or other similar
factors.
ROSENOW SPEVACEK GROUP, INC
PAGE 4
RESOLUTION NO. 496
■ Incompatlble Uses
which prevent the
project area.
PAGE 8 OF T4
THIRD FNE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
. Adjacent or nearby uses that are incompatible with each other and
eoonomic development of those paroels or other portions of the
• Lots of Irre�ular Shape, Inadequabe Size� and Under Muftiple Ownerahip: The
existence of subdivided bts of imegular form and shape and inadequate size for proper
usefulness and development that ar+e in multlple awrtiership.
■ Deprociated/Stagnant Propecty Valuss; Impaired Investments. Depreaated or
stagnant property values or impaired investrnents, induding, but not neoessarily limited
to, those properties containing hazandous wastes that require the use of ager�cy
authority as specified in Artide 12.5 (oommencing with Section 33459).
■ Htgh Buslness Tumovecs and VacancieslLow le�se Rates/Abandoned
BuildingsNacant Lot�s. Abnor►naly high business vacancies, abnormally low lease
rates, high tumover rabes, abandoned buildings, or excessive vacant lots within an area
dev�eloped for urban use and served by utilities.
■ Lack of Nei�hborhood Commsrclal Facllities. A lack of neoessary commercial
tacilities that are nortnally found in neighbofioods, including grocery stores, dnig stores,
and banks and other lending institutions.
■ OvercrowdinplExcQss of Adult Businesses. Residential overcrowding or an exoess
of bars, liquor stores, or other businesses that cater exclusively to adults, which has led
to problems of public safety and wetfare.
• High Crlme Rates. A high crime rate that oonstitutes a serious threat to the public
safety and welfar+e.
The Law also charaderizes inadequate public improvements as blight when one or mo�+e of the
above physical conditions and one or more of the economic canditions are also prese�t.
Despite the success of redevelopment activities to date, many of the blighting conditions that
were prevalent in the Projed Areas when they were adopted are still present today. A reoent
review of the Project Areas has confirmed that the Projects still contain the following bligMin�
oonditions as deflned by the Law's defiinitions in plaoe at the time of each Project Ar�eas'
adoption:
� Buildings or structunes suffering form age, obsolescenoe and deterioration.
■ Some properties within the Project Areas suffer from defiective design and character of
physical consVuction and lack adequate pariting, bading and storage faalities.
■ Some propert+es within the Proje�t Areas sufFer from ecanomic maladjustment,
dislocation, and disuse and are substandard in design.
■ Some properties within the Project Areas e�ibit characteristics of faulty interior and
exterior arrangement.
• The Project A►+eas suffer from inadequate public improvements, traffic, circulation
faciti�ties and btiighting contlftions.
■ The Project Areas suffer from a lack of infrastn.icture and community facilities.
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ROSENOW SPEVACEK GROUP, INC. PAGE 5
RESOLUTION NO. 496 PAGE 9 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
• The Project Areas oontain properties that suffer from depreciated or stagnant property
Jvalues that impair private investment and the Agency's ability to pursue revitalization.
■ Some properties wrtfiin the Projed Areas sufier trom high vacancy rates, high business
or rental tumover rates, and low rental rates.
■ Within the Projec� Areaa properties suffer from inadequate flood oontr�ol and drainage
improvements.
• wthin the P�ojed A�eas properties suffer from conflicting land uses, a�d imegula� paroel
shape. �
While the Agency has been extremely sucoessful in its revitalization efforts, the conditions
ide�tfied abov�e oor►tinue to persist within various areas of ihe Project Aroas. These conditans
continue to inhibit eoonomic growth, and are beyond the capacity of tha private sector or public
sector to correct, acting abne without the powers of redevelopment.
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ROSENOW SPEVACEK GROUP, INC PAGE 6
RESOLUTION NO. 496
Thir�d Fiv�o-Year Implement�ion Plan
Palm Desert Redevdopmer�t Projec�s
The Or�dinance adopdng Projed Area No. 1(the "Oriyinal Ar�ea") was approved by the City
Council on June 12, 1975. The Agency's Report to the City Council requesting the proposed
Redevelopment Plan for the Original Area indicated that the area had been selected because of
the existenae of bts which were subjed to being subrne�ed by water, lots of inadequate s¢e
for proper use�fulness and dev�elopment; inadequate streets; a problem of tr�ft'ic congestion;
faufty interior arrangement of lots and buildings and e�erio� spacing; inadequate paricing
facil�ies; and mixed charader of dev�elopment and shifting of land uses. The Original Area
enoompasses approximatelX 420 parcels (580 acres) of retail and officelcommercial
development along the City's ptimary commercial strip, Highway 111. The Original Area is
generally bounded by portions of Fred Waring and Alessandro Drives to the nortfi, EI Paseo and
adjoining commer+cial properties to the south, and the City limits to fhe east and west.
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On Nov�ember 25, 1981, the Redev�elopmerrt Plan for Projed Area No. 1 was amended to add
appro�amatey 10,814 paroels totaling 5,240 acxas, ther�eby creating the "Added Territory". The
Added Territory is made up of a broad range of land uses, including single and muRifamily
residential, country club, planned ►esidential, and offioe✓cammercial development. The
Agency's Report to the City Council requesting the proposed amendment indicated that the
amendment was nece.ssary to add temtory because: (1) there existed commercial property and
residential units subject to being submerged, inundated, damaged or destroyed by flood waters —
and accompanying debris; (2) thero is a lack of adequate flood control facilities designed to
protect property, and to ensure acoess along roadways which cannot be remedied by priwate or .
govemmental action without �edevelopment; and (3) there e�asted an ecanomic dislocation
throughout Project Area No. 1(Original and Added Territory), resu�ing from the Gear and
pr�sent danger of flash flooding, and threats to the public health, safety and weifare throughout
the area. The boundaries of Project Area No. 1(Original and Added Teiritory), is iltustrated on
the following page.
Since its inception, Project Ar+ea No. 1(as amended) has experienced a diversity of
development. Residential development has been predominant. Spec�c projects include: One_
Gluail Place, an apartment project with 384units; Palm Lake Village, a 220-unit apartment
project; Hacienda De Monterey, a 180-unit congregate care, Big Hom, a 600-acre custom home
residential development and 99-bed nursing faality; and Canyon Cove, a 231�nit single-family
development. Additionally, a 73-ac.�e Civic Center projecx, which provides for recneation, {aw
enforcement, and govemmental faalities, has been completed. Project Area No. 1(Original and
Added Territory) contains approximately 11,235 parcels totaling over 5,820 acres.
Adoption of this Implementation Plan does not approve any of the projects detailed in this
Implementation Plan. Projects to be undertaken by the Agency are subject to discretionary
approvals by the Agency, as well as environmental Gearance as determined by Stati. Pursuant
to Section 33490(a)(1)(8), adoption of an implementation plan shall not constitute a`project"
within the meaning of the Catifomia Environmental Quality Act (Public Resouroes Code Section
21000 et seq.), and inclusian oi any pro}e�t or program in the Implementatiun Plan shalf not
eliminate environmental analysis that would otherwise be required.
PAGE 10 OF 74
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ROSENOW SPEVACEK GROUP, INC. PAGE 7
RESOLUTION NO. 496
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PAGE 11 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Paim Deser�t Redevelopment Agency
Project Area No.1
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ROSENOW SPEVACEK GROUP, INC.
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PAG E 8
RESOLUTION NO. 496
CsQN.S /1ND OBJBCTINES OF i'�1E A�G@iCY
The following goals and objectiv�es address the blighting oonditions still found witfiin Project
Area No. 1. These goais formuiate the ovenall strategy for this Implementation Plan and will
sen�e as a guide for the Agency's adivities during the next five years.
■ Remove Bllyht To eliminate and p�event the spread of blight and deterioration, and to
conserve, rehabilitate, and redavebp the Project Area in accordance with the
Redevelopment Plan and Annual Woric Programs.
• Encourage Stakeholdar Particlpation. To enoourage the cooperation and
participation of residents, businesspersons, public agencies, and cammunity
organizatians in tfx revitalization of the Project Area.
■ Encours�e Private SecLo� Investment To encourage private sector investment 9n the
dev�elopment and redevelopment ot the Project A►ea.
■ Oivscstty and Expand E.conomlc Base and Employ�+ent Opportunittes. To promote
the economic well being of the Project Ar+ea by enoouraging ttie divers'rfication and
devetopme� of its economic base and employment opportunities.
■ Promote Compatlble Commerctsl and Resldentla! Developmen� To encourage the
development of commercial and r+esidential environments which positively relate to
adjacetrt fand uses, and upgrade anci stabilize existing uses.
■ Facilitate Revital[zation Of the Cor� Commer+clal Area. To provide for the
revital'¢ation and full development of the City's oo�e commercial area, to attain
consistent image and characte�, and to enhartoe their economic viability.
■ tmprove Commun'rty Fsci11t1es. To provicie needed improvements to the commun'rt�'s
education, cuttural and other oommunity facilities to better serve the Project Area.
� Expand Resources for Land D�velopment To expand the resource af developable
land by making underutilized land available for nedevelopment. .
■ Coordin�te Revltallzatlon and Comn�unity D�velopment A�cdvftisa. To 000rdinate
revitalizatbn efforts in tfie Project Area with other public programs offered by the City
and other public agencies.
• Irmprove pubiic Infrastructuro. To provide needed improvemeMs to the utility
infrastnactu� and public faalities that service the Project Area.
• Address 1'raffic Clrcubtion and Psrking Deflciencies. To improve traffic circulation
through the reconstruction and impravement of existing streets in the Project Area.
Provide for necessary public pa�lcing to address parking deficienaes.
■ Provide Affo�dable Homeawmesshtp Opportut�itias. To imp�ave �ousing and assist
low and moderate-income persons and families to obtain homeow�ership.
PAGE 12 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESER7 REDEVELOPMENT PROJECTS
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ROSENOW SPEVAC�K GROUP, INC PAGE 9
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RESOLUTION NO. 496 PAGE 13 OF 74
THIRO FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
■ Increase and Improve the Community's 3uppfy Of AffoMable Housin�. To promote
j the rehabilitation of�existing housing stock where appropriate and promote development
� of quatity, afforciable housing.
Rt'VIEW OF T!E PR10R IIIIPLBYEIiifAT10N PL�Ii!
The Agency's second implemenbtion plan, adopted 'n Deoember 1999, delineated a series of
non-housing and housin� projeda and pro�rams for Project No. 1, the majority of which were
initiated or fully implemented during the plannin� period. The Apenc�s achievements over the
past five years include fhe following:
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Fr+ed Warinp Drlv� Wld�nln�: Widened Fred Waring from 4
to 6 lanes induding a Baja Califomia Themed Walking Park.
Entrada Dsl Paseo: Completed water, sewer,
civil infrastructure and parking lot facilities.
ROSENOW SPEVACEK GROUP, INC. PAGE 10
RESOLUTION NO. 496
PAGE 14 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
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Below is a listing of additional Agency achiev�ements completed over the past Five Year
implementation Plan period.
■ President Plaza III - Additional parking
■ Land Acquisition — Open Spaoe
• Palma Village — Utility unde�rounding along Highway 74
• Develop Open Space Master Plan (Benef'�t to all Project Areas)
• Fred Waring Strip Pai1c — Pocket Park
• CVAG Payments for I-10 Interchange
� Improvements to the Multi-Agency Library
• Placements of utilities underground at Magnesia Falls and Portola
■ Placements of utifities undergrnund at Silver Spur Residential Area in partnership with
�esidents
■ Public Parlcing at Living Desert
• JFK Clinic
• Mc Callum Theatre
■ Civic Center Partc parking improvements
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ROSENOW SPEVACEK GROUP. INC. PAGE 11
W�at(i�id Shoppingbown Public Expansion-Ph�ses 1 and il:
Constniction of two Paricing Garagas totaling 1,000 added
parking spaoes, the e�ansJon of Robinsons-May and Macy's
along witl� an additional 40,000 s.f. of retail spaoe inGuding
Bames b Noble.
RESOLUTION NO. 496
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PAGE 15 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
The following summary matrices for Project Area No. 1 describe the proposed non-housing
programs and projeds planned for the next frve years (Table 1-1). Table 1-2 identifies those
projects to be undertaken with bond funding. The matrices desc�ibe each proposed program,
gives the projected time frame for impl8mentation, identifies Agency goal's to be achieved, and
ident�es the blighting conditions the program will address. Anticipated program expendibures
are based on projected tax incroment-revenue expected for FY 2004-05 to FY 2008-09 and
bond funding. Gr�eater or lesser funding may be available; depending upon actual assessed
valuation changes in the Project Aroa No. 1.
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ROSENOW SPEVACEK GROUP, {NC PAGE 12
THIRD FIVE-YEAR IMPLEN�NTA'pON PLAN
PALM DESERT REDEVELOPMENT PROJECTS
e,am.ra �o«xy
Proyram Tinr Pan� C�oN� Ad�i�wd BNpht Mtip�bd Co�t
BusinMs Enl�nc�m�nt P�rfm 2004-05 R�navr Wipht Inad�quab public Imprw�rn�nb ff=,T60
/veAlMetural D�siOn S�rvias Enaourpe priv�le s�clor invwfrMnt I�ck d IMrasfnwltn �nd oanmunlly
f�diti�s
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2007-Oe
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�oawmic NabWty and us� d
{oNlbuAdlt�s ,
Inadp�rM publ�c imp�ovwn�nts
l�rt1i11n0 PhY�ciM oOndNiont
l.ack d kihasEnx� �nd oommunity
f�dtiti�a
E.o0f1oftliC III�I�d�tIwllMlt, dM10C�llOf�,
diw�, �nd subMr�rd dMipn
limltYq physior cardia�s
l.�ck d hlFrtudun �nd aomrtnr�ity hdMtlN
In�wb Publle knprov�n�N�
Ldc d in�in and oommudlp facilllMs
In.a.quaa publie nnp+�n«+k.
� a oo�+m� �ww
laGt d in�udur� rnd oon+munkv facilidas
s�,�oo,000
i1,000�000
f10,000,000
f1.i20,000
K.000,000
i�.,Ml
i20,021,214
D�Nrt Wlllow FbMI
Fra�b� Road Imprown»nls
Ciqi I�hnst Gp Papm�nt
�/ S�n M��ino Prop�rtr AequlsMbn
CRAND TOTAL FlVE YEAR NOM�IOIJsllifi PROORAM CO3T
2004-05 Rsmov� bipld
Ihru Enaoump� PrNM� s�dor u�vabn�nt
2007-0e Diwrsify and a�prrb �ca+ornic baM
Imprar� Public Inka�bvchx�
2004-05 RwraN blpht
thru Impr� PubYc Inh�ttrud�xs
2005-0E Addrns Traflfc Ck'a�l�tion �nd Parkinp DNicland�s
2004-05 R�move dlpM
FadlNah �vfhNz�tion
20W-0S RMnovr diqht
Pr+anot� oamP�tibN dsvNopmerrt
Impow Publlc f�cilAi�s
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THIRD FlVE-YEAR IMPLEMENTATJON PLAN
PALM DESERT REDEVELOPMENT PROJECTS
P rarn Tima Fram� Go�ls A�chiw�d BI' M Miti Eatimabd Coct
�.,na.eaP. r � ,
coma.ad w�oupn �ands��ap. and
� disEr/tts
Coll�p� d th� D�s�rt
PWblic Pool
� Gtal(na R�c�atlon Gnbr
Cook StrwtlEl Dorado
Strwt I�nprov�nb
{�ro�iet unfundwl
NN�hborfiood Ullliy► Undproundirp
(ProJ�et unfund�d)
Mbrfa� sw.c und.�reww�n�
(P►ol�et v�1y► iw+d�d)
�( Padns Eo �in� - Gntral
' \ In(r�struclun Mnp+nwnrnfs
Caok s�wt wM�nin�
('IOj�ti Yll�lllld�d)
Portolw Awnw wid�ni�q
(P��ct unfund�d)
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II1N
2006-00
2004-05
�ti
2007-08
2004-05
MIN
2007-08
2004-05
1hN
2006-0�
zoo4-os
wti
2008-09
2004-05
�uu
2008-0�
2004-05
IhN
2008-0!
2oo�-0e
2008-00
Remow bMpht
Improw Publfc Fadwks
RMncw blpht
Irtq�ow Piblic FsdlNf�s
P�id� CammunM�r Fad�iss
R�mow bMpht
knprow Pubiic FsdMfl�
Piovid� Communit�r FadNtles
RMnow blpht
Improw Pubifc hika�trudure
Add�a TrafAc GraYaqon and Parkk�p D�Ac�s
R�mow bl�t
Improw canmunfly facMllie:
knpmw Public FadNtist
R«naw blpht
ImpoM aommunflp fadlNiss
Impvw Public FadNf�t
R�nas bipM
Irt�p�ow Piblic IMraNn�ctura
Addrea TMfc CuaAafbn and Paikinq Delicf�ncies
Rwnaw W�t
Imp�uw Public I�
Addnw Tra1Mc ChoWaEion and Parkinp D�cisr�
R�rnow biplK
Imp�w� Pub�c Ini�sttrucWn
Addrss� TrafAc Chalatlon and Parkkip D�M.bnci�a
In�dpuale pudlc improv�nents
Lack of fr►hastrudun and community facllMiea
Ir►td�quap pt�hifc impio►rements
Ladc of hA'a�t�x4x� and comm�My fadlitlss
Lsdc oi canrnunil�r i�olNhs
Inadpuate public improwm�nts
. Lack of inU'�strucbx� and oonxnunity hcllMfes
�canomic nrYtljuttrn�nt, dfsloc�tion,
disuw, �nd aubatandMd d��ipn
�wrawp ptr�rsial oonallorK
Inad�quab puWic impmwm�ts
I.�ck of in�astudix� snd communky faalMi�s
Vnad�quat� pul��c impwMn�nts
Ladc Of M�k�tucltx� �nd cominlnky isCli�as
Economic rtwiqu�brnrK, ditbcNion,
ditu�. and wb�fandaid dNipn
�4dWq QM�iral aondlfon�
Ecano�nic eyl�usanwit, d�iocatlon,
dfsus�� N+d wb�tr�da�d d�dpn
UnMlkp Physicd oondlioin
l�d� oi ir�a�drr and oommunR�r fadMka
�oono�r�ic n�auMm�nt, dMloc�fon.
dNuM, and wb�hnd�d d�sipn
LhnUkq pl�rsk.�l aaidfons
Ladc of Mtaqruolure rid oommunity tscllNfsa
�s�,iu
i600.o00
i250.o00
=2.760.000
i22,000,000
=1.i00.000
:i00,000
i1,2i0,000 �
=7.000,000
ROSENOW SPEVACEK GROUP, INC. PAGE 14
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(�Ia j�et unfWnd�d)
Improw hlms W /IMs
W��t Ml�hw�y 1 H
Inhswucwn hnprorw�w�t�
Fnd WMlno dtw linprowmwb
12 Aoer - Entrsd� dM Pwo - DN�/e, D�vMo�k.
GnMruCtlon w�d f, , iw� d
Pdm Dw�t Vbllors C�
s�r..c wro.�� r ,
(►ro) �.�t �n�+i+d�dl
ORANO Tt1T/IL FIV€ YEAR 0010� MP![�1 1iT
RnSENOW SPEI/ACEK GROUP, INC.
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Impow Publb Inh�L�n
Add�t� TraNlc CkaYalfon snd Parldrq D�Ildrid�s
2004-06 RwnoN biyM
Oru Encawap� phr�N Mcbr Inwatrnw�t
200d-09 DNwerlfy an0 aqwd �oorwmic b�w
Impov� Publ� k�trMtuc.iun
Caor�rrl� r�vtaiz�tlalloommunHy dwdoprrw�t �dMtl�
AddMs TMRC CMoWallon ard ParMr� Ddldrx�s
2004-05 Wnww bMpht
riru Enoo�eap� �I�fwholov p�ticip�o�
200609 E�� 0�� s�Cbr f1M�fnNrM
6�nd Ruouow ior Land DwMaOnrd
P�on�ob aomp�lbb da�iaonrrt
2004-06 R�npv� blpht
riru £noouap� pMb t�qor Im�atmw+l
2006-09 PRxnad oanp�lbb dMloprq�nt
200405 RwnoN blpht
rru knpo� PiibMc kMn�tuc�n
200a0D Add�Ns TMfc Cha�on a+d PvWnp Ddfd�neMa
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THIRD FlYE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Eoa�omlc nrl�ywlnNnt, dUlocatlon.
di�uw, and aub�fadaid d�afpn
LYnMkq py�ic�l oond�orr
LW� d inhf�tn� �nd catnmu�NN t�ciKl�s
�r�d�qu�t� publfc I , .
and Y�Illc �nd diailtllD� t�dllbs
Eoo�onMc n�tfJu�tnMrM, d�loetllort,
di�us�. �nd wb�tvd�id d�ripn
Ladc d k�fra�trudun and oortimurMty f�oMtbs
Eoaiomlc nwM�u�k. d�loc�Mor�
aisu....nd .ub�Rr,d.�d d..tpn
Pl�y�ipl oond�loro M�M AmN !»
.00�unb w.bifly.nd u.. a
iotUbuM��
Nydiqu�b publc , . ,1
Ladt of k�tNtuoluw and ootmwrdlr t�cMMhs
Eow�omic n�Ndjuwnwk, dMoc�lfon,
dsuM, �nd �nf dnip� .
l.knitlnp pl�k.rl ootd�o�r
Ladc a ki►..r�aw. and aommuNly r.a�nM.
Uo�r not bKi�+d� uAnd�AP�rG�1Y IUw�dpq�cli
PAGE 15
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f1,�26,000
f7i2.M7
:i,f7l.pt
f4�000�000
i10.l04.t41
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RESOLUTION NO. 496
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PAGE 19 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Table 1-3 p�sents the Implementation Plan's preliminary five-year redevebpment ac�ivity
budget for the Project Area No. 1(non-housing programs). Tax incnement �venues provided
are net of housing set aside amounts and taxing agency pass through payments. They were
estimated based on a conservatnre increase in secured and unsec��ned assessed values with
verifiable new dev�elopment values added. The budget also contains other project rovenues,
including interest eamings and taxing agency reimbursements. Expenditurzs wera based on
the 2004-05 budget and proceeds frvm a previous bo�nd issuanoe, and include bond debt
service, required payments to Riverside County, and adminishative costs.
In total, the Agency antiapates expending �71,002,452 on redevelopment or non-housing
programs that will benefit and address the needs of the Project Anea.
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ROSENOW SPEVACEK GROUP, INC. PAGE 16
THIRD FIVE-YEAR IMPLEMENTAi�ON PIAN
PAI.M DESERT REDEVELOPMENT PROJECTS
1M4iM� L14iM� iN,�7 �'TiM� tMH�M �YM►TdM
Ibwri *11i' �� • -
M�►r*q�MM�a 7�.t27,/N 1/,�M,M! t7�t�t7� is.tl�.Mi tt,�Tf,�71 t�TZI,Ms tWj,11
1R Yt D�b1 i AEn+n 1Mq (S.71S.p)) f4S,7t�) (tOt.N6) (107,7lS) (11�.112)
REIIEIIUE: (�.71�) -
TaxY�a��nt J6.tES.1oE J6,2a1,0E1 ]7,370,2oJ ]�.ME.1N Jp.E01.S�0 ts{,EDt.677
O�Mr IMYeO R�.�d 4f9./6� Ip�.61s 50�Np bp,�7p 512.170 Z.47E,1N •
riw�MYmn� 7A7.10.S qJ.976 �JO��Ot N1.p6 �71.D77 2rE07.61E '
�v.ryn.i�ne m�w �.oe� aie,i�o x�.u� x��s� t.r,�.xt •
�MeRwAlM�D ?bJ.Jt7 760.000 f�,e0+ eM,/13
Torl fUww J1,f11,�M 77,71q�71 i�,7��.�N 7�.7N.�70 �O,�Q,fM 1M�1/.p� 17�tf;f/f 1M,771 -
E70EIIOfTU11Fi: Do�s �el YwA�M ORIq �MMCA aw �ndRAs kan� �nMnp Oad I�nd�
CaWM� E�wf (OtlIMW) ��� ��M. �t Mrvlw. OtAf M� AMiM
�a�►hr It,J�1.p� 11.N6.7�7 t7a66.0�6 12�ri.J76 1]10E.126 E1,671,/EO � '
zo+c � �ra� e.w�.ao �,��.se� �.su.we i.�s.�� �.�oo.ee2 y.�e�.��s • • ' .
z�s�F.r x��� sa� e»,as� eas.�e e+e��e z.�a.aat �
S/2119rM�oryP-Mn/ ]E,671 M�42 101.TJ0 1S{,247 �,�p •
O�bllnMo��OOM�A7/2W� o,Zf1��7� fTi'J�640 O.T►7.�01 �.27��Of1 9?1�.�71 M.J7�.� •
EM► pp�pym 2.47Y�fE0 4.96f.79� � - S.W�.7H .
RA► IrYnh��MnM 116,]E6 IE/.]!E e+e,xe 0.11,776 M7.570 2,i'7�.117 .
Vrel�bnl F�w 200.000 310,000 7Y0,'S00 271,S2S tq.10t t,t06.126 •
in�oeayia.n. �o,n> >eo.w es,pw �s�.oa eeipoe a.�,w� ,
Ibnln E�q(PM� rqph 1./6/,�00 1.72t.07S 1.M6.Ip 2,014131 Z,2W,7M f,�Q��]Q
ar�E,pwr. eoo.aoo s�.000 ss��so s�e.n� eo�.�ea saeaau � . •
rUrK • �w.Pri.. o.a s..+o.. � • .
E)tAF and Ad�h 73�7,Ip �ij!l,7T� 17�!!,l12 14.7M,MI 7{,M/,11t 171aM 1M �. • . ,
C� /YiMM 6MIM�Mt Ae0 92760 Qi.7E0 ��� � : , � �, r �• '
:..t' .
Fnd WaiMip 7�2,/q � y
1? Aaw • 6ilr� Pt7.M4 2171M 6.�,N6 1M,a1 •
BPM�eCovMYCarr 1SS.000 1?5.000 �?5A0o t2S.000 t2:4A� EE6,000 . . • .
Cdq� d DMnt Pad So0.000 .
�rwr� sNw ud�v��a �.+n.�a �.�ti7
L►� D�rf NrAYr Lel 260.000 230.000 7SO.00D 7y0.000 �.000.000 . •
�a�N lo NMt Yrna YIIr. t.17fA00 ' ..
Wd�� ���MM� 1�� ' . , • . ' � ,+ • .
S�n Mrr�e D►'nP�rly �bVuYMan �,NI 6.M� , •♦
C*MY lqw� (rMm�e - Iw Cow�dl Aa�an �t Mrw� D�b1 i'.
Pd�r b PrM►C��nt�l pp.Opp ". . •
PaloY AwrN ��e 2.�00.000 2,700.G00 • . .
�� ��i ti+p�w 4�000�000
OwM Wrwv llohl 2',SOG.000 2.500,000 2 300.000 2.500.000 10.000.000 . .
�M�oad UwY Une�prunso ]�OOOlo00
Cali�r llr�wbn C�rr 750.000 ' '
Cadt SMI WIO�r� ` f�p,Qpp
PorbY Av�w� WA�rip 79�1�
MaMwy d�Y4 Mnpvw�wnr tAOp 000
Caori9 Da�do Ynpioqnw� �,7�;0�
Gy MM/�MI (�D P�M D 000.000 6,000.000 � � '
hid���i0�01l11�ICMTMMt dW.WU t,.flV.YW t.yN.YW . •
To1�IC+WNE�+dIMM 1wt1„�'►/ �t�s.�M Z,�7f,00� i�17i,M� 1�f,AM i�,Ma�1� f�7M� IK�K , �.1/T
�r.�o. �u�aw n.:u�� u�u�� urr�.�n x�n.m M�1/1f� ir3� . �'Yi,:i$
•�w. w. r.r�o.... r.w� r.w.r�..s� y... M..�wr..wr r+w uw.w.� ropcw �a w. aw..� �w ac.� �w. y..n. [,r.n �� �...�rr r.�.■o...M y... r �w.�
�0111� 11MM� r� M1A�/ b w�MiM yw� b ANM Mw�Y Yw�y �wMl�� �r �Wn�. TAY Y�YnM w��l dM M rM/ b Gw��r ��y �IMrMdI bMw Mw �rw�+ �t MM� wry M tir
/1ey�ob �YM� Uf �M d �pIK
i^ �ENOW SPEVACEK GROUP, INC. � PAGE 17 �
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RESOLUTION NO. 496 PAGE 21 OF 74
Thir�d F'n�Year Implemer�ta�tion Plan
� Palm Desert Redevdopment Projeds
PROJECT AREA NO. 2
The City Council appro�red tfie Ondinance adop#ing Project Area No. 2 on July 15, 1987. Pnojed
Area No. 2 encompasses approximately 2,927 acres (6,195 paroels) of nesidential, hotel and
resort, of�ioe, and undeveloped uses. Projeat Ar�ea No. 2 is generalfy bounded by the City limits
and Interstate 10 to the north, a portion of the City limits to the east, Country Club Drive and
Hovely Lane to the south, and Portola and Monterey Avenues to the west. The bounda�es of
Project Area No. 2 are illustraited on the foflowing page.
The Agency's Report to the City Council requestinq the proposed Redev�elopment Plan
indicated that the area had been selected because of the existence of lots of inadequate size for
proper usefulness and devebpment; inadequa�e traffic dreutation; numerous obsolete and
dilapidated resider�tial strucbures subject to mtxed charader and shifting of land uses; and
above ground vottage transmission lines which a�+a not only unsightly, but because of high winds
in the area, a threat to public safety.
The primary objectives of the Redevelopment Plan for Projed Area No. 2 inGude the
� improvement of traffic ci�culation; the under+8�ding of utilities; the elimination of drainage
defidencies; the elimination of irtegulary shaped and inadequate sized parcels of land; and the
.`, rehabilitation or removal af substandanl buildi�gs. The Redevelopment Plan also provides for
the expansion of recreation faalities, open space, and other pubtic improvements.
Adoption of this Implementation Plan does not. approve any of the projects detailed herein.
Projects to be undertaken by the Agency are subjed to discretionary approvals by tfie Agency,
as well as environmental Gearance as detem�ined by staff. Pursuant to Section 33490(a)(1)(B),
adoption of an implementation plan shaN not oonatitute a"project" within the meaning of the
Califomia Environmental Quality Act (Public Resouroes Code Section 21000 et seq.), and
indusion of any projed or program in the Implementation Plan shall not eliminate environmental
analysis that wouW otherwise be required. -
aQAI� At� OBJBCTIHEB OF TI�E A�ICY
The following gaats and objectives address the blighting conditions stifl found within Project
Area No. 2. These goals fo►mulate the overall strategy for this Implementation Plan and will
serve as a guide for the Agency's adivities during the next fiv�e years.
■ Remove Blight. To eliminate and prevent the spread of blight and deterioration, and to
conserve, rehabilitate, and redevelop tfie Project Area in accordance with the
Redevelopment Plan and Annual Work Programs.
■ Encourage Stakeholder Participation. To encourage the cooperation and
participation of residents, businesspersons, public agencies, and community
organizations in the revital'�zation of the Project Area.
ROSENOW SPEVACEK GROUP, INC. PAGE 18
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RESOLUTION NO. 496 PAGE 23 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
■ Encourage Private Sector Investment. To encourage private sedor investment in the
'� development and redevelopment of the Project Ar�ea.
" Diversify and Expand Economic Base and Employment Opportunities. To promote
■ the economic well being of the Project Ar�ea by enoouraging the divers�cation and
development of its economic base and employment opportunities.
• Promote Compatlble Commer+clal and Resld�ntlal D�v�bpment To encourage the
dev�ebpment af commeraal and residential envi�onments which positively relate to
adjaoent iand uses, and upgrade�and stabflize exisiinp uses.
• Facltltab� R�vftaltratbn by Acqutrin� Property to Pravfd� Publ� Facilttlss. To
provide needed impcov�ements bo the oammunity's rocnation� education, cu�tural. and
other community fadlfftes �o betber aerve the Projec:t Area
■ Improv� Canrrwnity Facllitll�s. To provide needed lmprovements to the communi�ty's
educa�on, cuftural and other community fedlities to better serve the Projec:t Ar�ea�
■ Expand R�sources fdr Land Dev�lopm�nt To e�and the resouroe of dev�elopable
land by makirp unden�tillzed land availabb for redevelopment.
■ Improve Publlc Intrastructuro. To provide needed improvements to the utility
infraatrudure and public facilfies that aerve the Project Area.
• Address TraRic Cir+culation and Paricln� D�flciencies. To improve traffic circulation
through tfie r�eoonstruction and improv�ement of existin� streets in the Project Area.
Provide for necessary public parking to address parking defiaencies.
� ■ Provlde Afiordab{e Hom�ownershlp Opportunkies. To improve housing and assist
{ow and moderate-income persons and families to obtain homeownership.
~ ■ Incr+ease and Improvo th� Community's Supply of Affordable Housin�. To promote
the rehabilitation of e�asting housing stodc whe� appropriate and promote dev+elopment
of qualtty, affordable houaing.
REVIL�MII OF'T�E PRIOft MYPLaIIlJ�iTAT10N PI�AM
Desert Willow HoteUResort and Golf Course
ROSENOW SPEVACEK GROUP, INC. PAGE 20
The A�ency's seoond impbment�tlon plan, adopted in L)eoember 1999. delineated a series of
nonfiousin� and housin� projeds and pro�rams for Projed No. 2, ths majority of which were
initiabed or fuly fmplsmenLed du�in� the plannlr� period. The Agency's achievements over the
past fnre years ins:hade fhs follo�wirp: - -
RESOLUTION NO. 496
PAGE 24 OF T4
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
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; !Jr`•hY•:r••, � . � ,.��' :�i' �. . . .
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Cook 3trset Improvem�nts: Paid from Projed Anea No. 1 and Project Area No. 4
CalHornt� Stsbe University San Bernardino: Loan funding and land grent of 200 acres for first
building of Palm Desert campus and University of Califomia Riverside satellibe campus
�
ROSENOW SPEVACEK GROUP, INC. PAGE 21
RESOLUTION NO. 496 PAGE 25 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
1 Below is a listing of additional Agency achievements completed bver the past Five Year
Implementation Plan period.
• Acquire Land for Controlled Redevelopment of 5 Acre Parcels from Frank Sinatra Drive
to Gerald Ford Orive —145 acres pu�chased
• Underground Unsightly Utilities (Projects 23, 24, 2�
■ Corporate Offioe Paric Redevelopment
• Acquisition of land for controlled redevelopment of 170 acnes
• Education Facilityr Enhanoement
� Frank Sinatra Drive — Landscape Medians
The following summary maVices for Projeat Area No. 2 describe the proposed nonfiowing
programs and projeds planned for the next five years (Table 2-1). Table 2-2 identifies those
projects to be undertaken with bond funding. The matrices describe each proposed program,
gives the projected tima frame for implementation, identifies Agency goal's to be acfiieved, and
identifies the blighting conditiona the program will address. Anticipateci pn�grem e�endibunes
are based on projeded tax inc�ement revenue expeded for FY 2004-05 t�o FY 2008-09 and
bond funding. Greater or lesser funding may be available; depending upon actual assessed
valuation changes in the Project A�+ea No. 2.
�
ROSENOW SPEVACEK GROUP, INC. PAGE 22
THIRD FlVE-YFAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Propram
Tin� Fram�
Gab /1chi�+�d
�n.e.d �.�cr
BIipM Mitigat�d Cost
O�t Wilfow P�ds 2004�5 EnCarap� shk�Aoid�r p�llidpMion Eod�ofrlie m�hdjwtnwd. disloc�lfo�, SiO3,606
lhru EraaKap� PAvN� s�ctor im�ttrrNnt �sus�, �nd wDstar�rd desipn
200a-OD Divwsify �nd ��rd �oonank b�� PM,� c«,a�aor►s u,.� wnn tn.
ImprvN Cammunkp Fad�ti+s eoaamb vi�bilky �nd us� ot prop�rtMs in tfw Prapct Are�
Co�clMNa Vall�r W�ler Disttid 20W-0S R�rtqw bYpht k�dpwb public impw�rn�nb f2.0li,176
linprov�ks at D�sM't WiNow E►aour� Prfvaf� s�Glor inwslm�nt Ecaamic nNl�djusrr�nf. dsloc�fbn.
DivutMr and a�and �eonomfc bw disuw. and wb�fard�id dNipn
Impov� Public Inhastrucfure Lad� d k�h�struchr� and oommunity fadlki�s
Improw Communky FacMNies �
PorEota AvMu� at 1-10 zooe-o� R.mow nwa,e tr�.apu.es pubwc �n.ncs t�o.000,000
Inhastrudu� Imprownwnts Er�carape prfv� s�dor invwtm�K ��q P�►Y�� ��+�
Coadin�a re�MaltrabNoommunity d�v�lopn�nt setbf� �nd h�flic and droul�tlon f�ciNtiN
Imprvw Public Inh�aWd�n Ladc ot inMstructun �nd oommunNy f�oiliWs
�► Land AtquisUa► - Op�n Spae� 2oo4-os R«iww a�o�n in.a.�+M. vuaic impw�n•nK i�,000,000
Imprw� Commurrlty F�cilitlrs Ladc d commurMp hc�lOn
GRAMO TOTAL FNE YEAR NOf�HOIJ�ING PROGRAM COST
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�^�ENOW SPEVACEK GROUP, tNC. t PAGE 23
l
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THIRD FIVE-YEAR IMPLEMEfYTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
,�
ram Tlms Frams Goals Achiev�d Bi ht Esfimtt�d Cost
lan�esp� Imp�w�+n�n4
Con�pbt�d Ihiouphlandx� �nd
llyhtleg dlsMets
D�sert Mllllow
Inkastrvetun hwprov�n�+b
prainap� fae�lty at Portola and
Frsnk Slnafra
Infnstnrctun Imp►own»nb
{�roNd u"Iynd�dl
Wrald Fotd • Cook to Franlc Sinatra
InftsstrueWn knpov�nMnb
(rroj�ct unfundM)
G�nld Ford - PoKo{f 10 Cook
Inirastructun Improv�menb
(�roJ�ct wM'und�d)
Uniwnky VIMsp�
Northw�st Ans *at1�
(Proj�ct unfund�d)
Artwial SbNt Und�proundi�p
(Proj�ct uniund�
T004-OS
11wu
200604
20(14-05
1hN
200609
soo�-oe
2007-08
2005�06
200d-09
2004-06
Mru
2006-09
R«rww aipht �n.dpwi� vi6lic Inwrw«n.nt�
Enoourfp� prMM s�tor InvwYm�n! Lack af kihf�x.iur �nd oommunily isoWkl�s
Imprw� Puhlb InhasWohx� PhysiCal oa�dlo��s tlwt Mmlt th�
�caionYc v1�bNtY d bls Jbulldinps
R.mov. wqht �n.dqusa p�blie Mn �. ,
Enoax� P�� sedor kwestrnud lknKtq PhYsfal aaxMaM
Coardin�te rwlhl�stloNoortwntrMty d�wlopn�rM seMvNMs and tr�flic and aia�Mllon fadlltln
Imprc�w Publb IrArstruQirr Lsdc d InhMtruciu� and canmunMy fadtltlr
RMrwv� bNptR In�d�qtN1� p�lic ,,,. b
E►�oaxsp� PrMM Mctor InvN6nNN ��q Phf�r ��
Coordinst� �ritd�albNoon+mu�ky d�wb0���nt �vNiN• �nd IrN6c rd cMa�IMlon fadNhs
Improw Public 1�xtruAu� Ltdc d YiA�dnxrn �nd oanniunlly facNMNs
RM�aw bfyl�t ��d�qwt� D�blb' �, . ts
Enooursp� pME� wcta inw4++w�t LMnMlnp DhY�iC+� oa+dMo�M
CoaWnat� �idoNcanununRy dw+iopn»nt �cthMiM and InfAe �nd cMaA�flon i�dki�s
ImP� Publlc Inkashudue� Lsdc af k�h�lrucfuh r+d oanmunlly f�ollRhs
R�mow Wipht ��� P�� ��
Encaltp� ptivaM s�Ctot tmM4nM1t �M��D I�h�� ���
Coordinate nvlfsl��tloNeanmunky dwdoprt»M sc�vlWs �nd taflfc and dtailtlfon hdMMa
ImQrov� Publ� Inknhudu� Lsdc d In(n�trucLrs and aoimnixifly f�dl(Uef
R�now Wqht In�d�q�wt� puEllc Mnpowm�nls
Improve Communlly F�dMtl�s Laalt d communMy hdMl�s
CoadlMh rwltal�rifoNaommunity d�Nlopm�nt �ctivNws
Impnow PuWic IrAratructur'�
R�mow bilpfi IrNd�qt�t� plblb fmprw�nwNt
Improw oommunky hiciltiN Lrdc d inhsrtrucYx� �nd oommuntty fadllths
Impow Publb F�o11fiM
:2E2�i4S
=1,�74,T1S�
u.000,000
ii�400�000
iz,soo,0o0
�10,000,000
i1i,/00,000
GRAND TOTAL FlVE YEAR dONDED tlN�lASTRl1CTURE IMFltOVEME1fTs COST
ROSENOW SPEVACEK GROUP, INC.
DOre not hdud� ur�/ir�d�d proj�cb
PAGE 24
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RESOLUTION NO. 496 ' PAGE 28 OF T4
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
�
.. � . � .
Table 2-3 presents the Implementation Plan's preliminary redevelopme�t activity budget tor the
Project Area No. 2(nonfiousing programs). Tax increme�nt revenues provided are net of
housing set aside amounts and taxing agency pass through payments. They w�ere estimated
based on a oonseroative increase in secuned and unsecured assessed values witt� verifiable
new devebpment values added. The budget also corrtains other project revenues, induding
interest eamings and loan repayments. E�enditures w�ere based on the 2004-05 budget and
proceeds from a previous bond issuanoe, and indude bond debt service, required payments to
Riverside County, and administrativ�e costs.
In total, the Agency aMicipates expending ; 53,502,826 on redevebpment or non-housing
programs that will benefit and address the needs of the Project A�a.
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ROSENOW SPEVACEK GROUP, INC. PAGE 25
Y
BpY+rinp Cun Edr�c� 17.i7�.12� l.M��f72 RW,M1
,rz r� o.a a^en+� R� ��aoa,o�� (s,�o� ce.�s4�
1IEVEMUE:
iax Incnmu�t 12,e29,93� 1�,�30,906 14.7iS,214
LarM SaNs Prow�ds -
1ntrMl incartr �13,90J 1N.�7J 1tQ31b
Ubnry RMnb
AMsc fiMftwnb e.f' ,000 l7��7
Tohl CMh i Rwiw+u� 1�,�,N1 17,M7,11! 1�I�T2!
ExriMaruREs: oo.. na Y,dud. woj.rl. w,id� an.x�naM..s Mw� .uwtp ea,a n�,ds:
co�e�.w� �.« �oMb.�.h ��a. �...�+.. o.re sw�e.� sit� r� �
Pw•fuu �I.iE3.�07 4.p7f.K�6 6.70472�
Caunty R�Ynbuwnrnl 1Z2,707 /2Y.707 /7Y,707
20X S�tAsid� ZM��� 2.6N.�00 2�1�.620
Y337 Fw 1�0.�61 217,f06 272,0�{
D�bt S�rM�otupd�bd 7(�0� �{11,125 2.41�,IN Z,410.620
ERAF OhMp��on 7E0,470 �,/p7 -
RAA R�inWfMml 500.000 DOOA00 504000
Pedyriprl F� 1/0.000 11J.�00 11LO6S
Mtl on C!y lurf� Q 6 'S't�,777 734,M7 W4.SW
Admin E+�tP1R s�F�l I7D.000 17�.t00 214006•
Gtv Ad� E�tor+u tOS.000 110,�50 1�7p
TOTAL - Pw�nr, O�bl
Swvia�, ERAF and A�nin 12,11i,�i2 17,l21,7M 1;�li��N
Ca'Ral E�n� (G+rwill�r)
D�s�t W�ow Pd� 1�.150 t0.7.110 10�,276
CVWO DwR WNow �.OM.173
Paralo W 410 I rfrs. I mp.
luidreap! InlppwrNrlh
Ca'Mal Espn� �►Irnwl - Mo Cwnd Aa1M� at R�R DM�I
O�s�A W�ow Yd�1+eYr I�M�
f3�nkl ford - Por1d� b CoW�
urwvslly V�1� • rrk
�vlwrl 91rw1 llndwpio�ndMip
Dnir�' Pdbb b Frrt ZirrM
L�nd AOpIOp �p�'.� J,9Q1.�20
G�fid fOM - Codc b Jin�
rold C�plld 6�prrdNv�s �,17f,f�f 11�,11� 1M,27i
Nl�na f!Nli2 t���1 R1��q7
��1��A�7 1�.CM.tM
��o,aao) (��.�
15�3A.JSJ 16�4/.01�
20J,Q6 231,260
1��M.a! 1�,f72
3.aN.N 1
�uro�
�A01.i10
2�7.16�
2,410.�11
500.000
114,l1J
Y14,9M
JOA,�OE
121361
1S,W,tl�
11�.iM
11 ��M
M
1� fN 1�Y
�,011,7N
tn,�o�
J,tot,1/0
2p,21 /
2,41�,1�/
300.000
1�1.15�
�N,lN
S11,f7�
t�
11„�72,IN
I1p,�7�
10.000,000
ze,sn,�t
61 J,S76
14,157.��
1,1�0,�06
12,06�.�q
1,S70,S�S
Y.S00.000
S96,J]7
4,00.723T
f,iO�.M/
SsO, �
�.:Tf.1�3
�r.e..i Ar.N w. rry.d.
i
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�.�2l12J/
�1E279�
?�N';f41
�� l�n� (CMw��
EOO��OE
2,0�0,170 .
10.000,000
• Yd2,Md
C�11M ��wwM (/Irw�
].YY1.tZ�
1�,11�7� 1�,�21�M1
2 iYN Y�it 3i t!� �1 '
1,]14.713
Y.SO0,000
10.000.000
t�.a00.000
�.000.000
4.076,3�
Z.460.000
�M.1�' 1N � i�.H�.OM
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w�w�t Y�ns M Nwr �ets a4�M�r �� K�� TM� Y�Irw� ewrt MM M wM b owrK rry �ha1MM Now MM �/s N�t Yw� �q M li► �� �I�h/ f�r w� �f �wf�.
ROSENOW SPEVACEK GROUP, INC.
PAGE 26
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
�.�.a..
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71.�10.IN
1.OE6.12J
1{2,2�7
77.1 �7.M7
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RESOLUTION NO. 496
Third F'n�Year Imple�rr�errt�ion Plan
Pafm Desert Redev�eiopment Projects
The City Counal approved the Ordinance adopting Pro}ect Area No. 3 on July 11, 1991. Projec�
Area No. 3 encompasses appro�amatety 764 acres (668 paroels) of residential, offioe, and
industrial uses. Projed Area No. 3 is generally bounded by Portola Avenue and Cook Stree�t to
the west� the City boundaries and Carlotta Drive to the east� Hovely Lane and Running Springs
Drirnre to the north, and the Whitewater River Channel to the South. The Portola Country Club is
not a part of Project Area No. 3. The boundaries of ProJect Area No.� 3 are ilfustrsted on �re
following page. �
The Agency's Report to the City Council requesting the proposed Redevelopment Plan
indicated that the area had been selected because of the p�+esenoe of buildings and strudur+es
suffering from age and physical obsolescenoe, deterioration, and dilapidation. Also cited were
condfions o�f defedive design and characteristics oi physical construction; fauity irderior
amangemd�t and exterior spacing; inadequate provision of li�ht, ventilation, sanitatbn, and
open space and re�xeation; and inadequate public improvements and community faalities.
�
The primary objectives of the Redevelopmerrt Plan for Project Area No. 3 include the elimination
of conditions of blight; the improvement of traffic circulation; the elimination af drainage
deficienaes; the rehabilitation ar remaval of substandarrt buildings; the stirr�ulat'an oi private ._-
investment; and the provision of needed public improvements and public faciliaes. The �`
Redevelapment Plan also provides for the e�ansion of recreation faalities and open spaoe. _
Adoption of this Implementation Plan does not approve any of tt►e projects detailed in this
Implementation Plan. Projects to be undertaken by the Agency a�+e subject to disc,r�etionary
approvals by the Agency, as well as environmental clearance as determined by staf�. Pursuant
to Section 33490(a)(1)(B), adoption of an implementation plan shall not constitute a"projed"
within the meaning of the Califomia Environmental Quality Act (Public Resouroes Code Sec�lon
21000 et seq.), and inclusion of any project or program in the Implementation Plan shall not
eliminate envlronmental analysis that would otherwise be r�equired. "
QQALs AI� OBJ8CT1VE3 OF TfE A�1GY
The following goals and objectives address the blighting oondfions still found within Projec:t
Area No. 3. These goals formulate the overall strategy for this Implementation Plan and will
serve as a guide for the Agency's activities during the next fiv�e years.
• Remove Bllght. To eliminate and prevent tt�e spread of blight and deterioration, and to
conserve, rehabilitabe, and �develop the Project Area in accordance with the
Redevelopment Plan a�d Annual Work Programs.
• Encourage Stakeholder Participatlon. To encourage the cooperation and
participation of residents, businesspersons, pubtic agencies, and community
organizations in the revitalization of the Projed Area.
PAGE 30 OF 74
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ROSENOW SPEVACEK GROUP, INC PAGE 27
RESOLUTION NO. 496
PAGE 31 OF 74
THIRD FIVE-YEAR IMPLEMENTA710N PLAN
PALM DESERT REDEVELOPMENT PROJECTS
J
; .»�„
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Paim Desert Redevelopment Agency
Project Area No. 3
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PAGE 28
RESOLUTION NO. 496 PAGE 32 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
■ Encourage Private Sector Investment. To encourage private sedor investment in the �
development and redevelopment of the Project Anea.
■ DiversHy and Expand Economic Bas� and Employment Opportunities. To promote
the economic well being of the Project Area by encouraging the divers�cation and
development of its economic base and employment opportunities.
• Promote Compatlbk Commercial and Residential Dsv�lopment To encourage the
development of commercial and residential environments which positivefy relate to
adjaoent land uses, and upgrade and stabilize existing uses.
■ Facllitate RevitalizaHon by Acqutring property to Provide Public Facilitles. To
provide needed improvements to the communitys recreation, education, cuitural, and
other community facilities to better serve the Projad Area
• Improve Community Facllitles. To provide needed improvements to the community's
education, cuttural and other community facilities to better serve the Projeci Area.
■ Expand Resources far Land Development To e�and the resouroe of developable
land by making unden.�tili�ed land available for redevelopmant.
■ Improve Publlc Infrastructure. To provide needed improvements to the utility
i�rastrudure and public facilities that seniioe the Projed Area.
■ Add�ess TnfFic Clrculation and Paricin� Deficiencies. To improve traffic circulation
through the reconstruction and improvement of existing streets in the Project Area.
Provide for necessary public pa�icing to address partcing deficiencies.
■ Provide Affonfable Homeownershlp Opportunities. To improve housing and assist
law and moderate-income persons and families to obtain homeownership.
• Increase snd Improv� the Community's Supply of Affordabb Housin�. To promote
the rehabilitation of existing housing stock whe�+e appropriate a►�d promote develapment ,_
of quality, affo�dable housing.
REVIlW OF TI�E PRIOR NIIPLEIIIlNTA770N PLAN
The Agency's second implementation plan, adopted in Deoember 1999, delineabed a series of
nonfiousing programs for Project Area No. 3. Improvements completed during this period
induded; oonstrucdon of sidewalks on 42nd Street, start of construction of sew�er and stneet �
improvements and Merel Stree�t.
The following summary maUix for Project Area No. 3 describes the proposed nonfiousing
pr+oyrams and projects planned for the next froe years as well as identifies those projeds to be
undertaken with bond funding (Table 3-1). The matrix describes each proposed pr�ogram, 8ivea
the projeded fime frame for implementation, identfies Agency goal's to be achieved, and
identifies the blighting conditions the programs will address. Antiapated program expenditures
ane based on projected tax increment revenue expected for FY 2004-05 to FY 2008-09 and
bond funding. Greater or lesser funding may be available; depending upon actual assessed
valuation changes in the Project Area No. 3.
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ROSENOW SPEVACEK GROUP, INC. PAGE 29
--__I
TfiIRD FIVE-YFJ�R IMPLEMENTATION PLAN
PALM DESERT REOEVELOPMENT PdOJECTS
p��m Tim� Fram• Goals Achiw�d B t M bd Ca�t
�, und Av«�u. ald.M►alks 2oo4-0s Reawv� aqne k�ad.yuw puelic Irt�pioti.m«,b =ass,sa7
Imptow PubAc FadMtl� Ladc of inha�truchxs and cummuNry hdiWs
Improv� Public IMrattrudun
improvs ComnwNlY FadlM(es
M�rf� Sbwt S.wKs 2004-05 R�mov� dipM Inad�quaa public Imptowm�nls :i7s,273
�oour.o. atraa.saor �,wsanenc LimMp PhyNca� oa�dtlons
Coadinat� rwltaf�aroNcammunity d�v�bpm�nt �WiWs and trafAc and drauM�on tadlltlN
Improve Public Inhastrudur� Lsd� o/ in�rMtuchrn and oommunity i�dlli�s
�r P�rhrnhr Landscapinp 2004-05 R�nove Wfpht Esaamic mNadJu�fm�nt dhbc�tlon, :1i,304
Encounp� st�k�wld�r partldpatbn di�u��, and sub�andaN dpfpn
Encourap� prlvab:ec� investrnent Phytical conditlon� that IMnR Ihe
ofwnity ��d a�q►and �oonomic bae economfc vi�biNly and uw d
Promot� compatlbN dewlopment IotslbuAdinp�
FadNdts rsrilaiatbn �
S000.r Park 2004-05 Imprar� Public Ir�strucfun InadpwM pubiic inprwwn�nb :75,000
Improw Community Facilki�s a�d Mlic �nd drwlation hdMtMs
N�I�hbafiood Utility Und�proundlnp
(P►oj�d uniund�d)
cook swa wrd«,��o
EI Dorado
2004-OS Remow bifpht
Ihru Improve communily fadAOes
200a-09 Improve Public F�cilitiss
2007-08 R�now blfpht
Enooursp� prMt� s�ctor inwsbnent
Coadin�ee nvkal�aMoNoanmunily dwrlopm�nt acUvitl�s
Improw Public IntraatrucEur�
Z006�0t Rernov� WfpM
Enooursp� priwt� s�clor inwslm�nt
Coadinab rwWhraYoNoomm�rAty dMbpment sctivltl�s
Impraw PuDlfc IMra�truchirs
GRAND TOTAL FNE YEAR NONaiOUSINfi PROORAM CWT
Ladc d Infra�trucfun and oommunity hdiWs
In�dequsr public Impro�nNnb i1,100,000
Lacic d kfia�trudur� and community fsd�tiss
In�qwb puWic Improvem�ts
I,.Imkinp pAp�ical condtfons
.nd aaflic and arcu�tlon r.d�itl«
L�ck d 1nha�lruclun and oommunity fadlitles
Inad�qu�t� public improwtn�nt
Umfdnp phy�ial oa�dtlons
and tralllc and ckaMtlon hdNtlss
Lack ot Mt►a�trucwn �nd oommurity isdlNf�s
Does not hdud� u►�nd�d �da
:3,500,000
i�6o.o00
:7,1Ia,124
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ROSENOW SPEVACEK GROUP, INC. PAGE 30
RESOLUTION NO. 496
PAGE 34 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Table 3-2 presents the Implementation Plan's preliminary redevelopment activity budget for the
Project Area No. 3(non-housing programs). Tax increment rev�enues provided ar�e net of
housing set aside amounts and taxing agency pass through payments. They were estimated
based on a conaervative increase in secured and unsecured assessed values with vetifiable
new development values addad. The budget also corrtains other project revenues, induding
interest eamings and ban repaymants. E�erxlibures w�ene based on 1he 2004-05 budget and
proceeds from a previous bond issuance, and indude bond debt service, required payments to
Riverside County, and administra�v�e costs.
In total, the Agency antiapa�es e�ding S 8,248,124 on redevelopment or non-housing
programs that will benefit and address the needs of the Projed Area.
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ROSENOW SPEVACEK GROUP, INC. PAGE 31
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Tax Inarsment 2.137,T40 2.201.�d3 2,Za7.�3i 2.335,�77
I�t�tMt IfY,�Om! St,644 32.x21 e0,b72 Ob,Oo!
Mi�c Fbv�R�Mr�b Q7.070 67.A�fi ?Y,Od7
To41 Cs�h i� RMrn� l.:M.Oit l.i�l,�� t.iM.i7i 2.iM.p!
E7�ENDfT'lNIEi: DO�s not t�d� proJ� wf11oA af� �ndlY��s ha11 �11�1p Dond AuIQs:
C011h0�� Ef(MrMN (�� MId1�N'MiM111r. �1 MfY�q. ��N �II� �11�11
PMawry 419,96! 30f.2H �4A,�2Q 7T0.�T2
7DX S�t Afid� 421.T74 433.2b4 116.2E2 �,e30
2557 FMs 31,3Ts ]6.'.f�IQ �,i27 J7.724
ERAF Ob�on 13.7.e'TO /37.E� -
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ProlMMorW F«s 10.000 41,7A0 43.ZeD 1d.423
InWMtonCilyl.o�nOb1� �4,'3i4 �.�0 l0.215 /0.21b
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PALM DESERT REDEVELOPMENT Pi�OJECTS
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RESOLUTION NO. 496
Third Fiv�Year impleme�nta�ion Plar�
Palm Desert Redevelopment Projec�s
The Cit�► Council and the Rivefside Gounty Board of Supervisors approved the Orclinanoes
adopting Projed Aroa No. 4 in July of 1993. Project Area No. 4 enoompasses 2,260 acrea of
pr�edominantfy low�iensity residential land use with small areas of commer�cial (10 aaea) and
public uses. At the time of adoption only 637 acnes of this area was located within the City of
Palm Desert. The remaining portion of the Projed Area was bcated in an adjacent area of the
unincorporated territory of the County of Riverside, which the City of Palm Desert later arnexed.
The boundaries of Project Area No. 4 are illustratad on the followin� page.
Project Area No. 4 generally� includes the territory bounded on the west by EI Dorado Drive
running southward to the City af Indian Wells boundary line, then eastward to the boundary
point between the then County territory and the City of Indian Wells. The westem boundary
follows this boundary line southward to Fred Waring Drive. Fred Waring Drive is the southem
boundary wifh Washington Street being the eastem limit. Country Club Drive is the northem
boundary n�nning from Washington SVeet westward to EI Dorado Orive.
�.
Project Area No. 4 was characterized in the Age�cy's 1993 Report to the City Council as
containing a variety of conditions, which adveraely Impacted the eoonomic viability, as well as
the heaRh and safety of persons and properties located within Project Area No. 4. In some of
the unincorporated portions of Project Area No. 4 development occumed in a seemin�fy —
unrestricted and unplanned manner. Streets were, and are still, unpaved and residential ��
dwellings have been developed wift�out reyard to standard design and setbadc requirements. ,
Further, Project A�ea No. 4 was charaderized by blighting oonditions such as the lack of and/or
inadequate public infrastructune improv�ements, including a poorly desgned arculation sysbem;
aging and deteriorating housing; and inadequate public, cuftural, and recreational facilities.
The primary objectives of the Redevebpment Plan for Projed Area No. 4 inGude th�
improvement of the tra�c circutation system and freeway acoess; the elimination of drainaQe
deficienaes; the provision of needed community facilities; the rehabilitation or removal of
substandarcf buildings; and tfie �habilitation of the existing housing stock where needea.
Adoption of this Implementation Plan does not approve any of the projects listed heroin.
Projects to be undertaken by the Agency are subjed to discr�etionary approvals by the Apency,
as well as envi�onmental Gearance as debermined by staff. Pursuant to Section 33490(a)(1)(B),
adoption of an implementation plan shalf not constitute a"projecY' within the meaning of the
Califomia Environmental Quality Act (Public Resources Code Section 21000 et seq.), and
inclusion of any project or program in the Implementation Plan shall not eliminate environmental
analysis that would othervvise be required.
PAGE 36 OF 74
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ROSENOW SPEVACEK GROUP, INC. PAGE 33
RESOLUTION NO. 496
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Palm Oeser�t Redevelopment Agency
Project Area No. 4
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PAGE 37 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
onrtnvns
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ROSENOW SPEVACEK GROUP, INC.
PAGE 34 '
RESOLUTION NO. 496
OQAL8 AND OBJECTiVEs OF TIE AQENCY
The following goals and objectiv�es add�ess the blighting conditions still found within Project
Area No. 4. These goals formulate the overall strategy for this Implementation Plan and will
serve as a guide for the Agency's activities during the next fire yea►s.
• Remove Bliqht. To eliminate and prevent the spread of blight and deterioration, and to
conserve, rehabilitate, and redevebp the Prvject Area in accoRlanoe with the
Redevelopment Plan and Annual Work Proyrams.
■ Encoura�e Stakeholder Particlpatlon. To enoourage the cooperation and
participation of rosidents, businesspersons, public agencies, and community
organizations in the revitalization of the Project Area.
■ Encoura�e Private Sector Invsstm�nt. To encourage private sector investment in the
development and redev�elopment of the Project Anea.
• DlversMy and Expand Economic Bu� and Employm�nt Opportunities. To promote
the economic well being of the Project Area by enoouraging the diversification and
developmer�t of its economic bass and employment opportunities.
�
■ Promot� Compatlbl� Comm�r+cfal and Restd�ntial Development To encourage the
dev�elopmerYt oi commencial and rosidential enviro�ments which positively relate to
adjaoent land uses, and upgrade and stabilize existing uses.
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■ Facllftate rovitaltzatbn by acqulrin� prop�rty to provlde public tacllitles. To
provide needed improv�ements to the oommunit�'s recreation, education, cultural, and
other community fadlities to better serve tfie Project Area
• Improve Communfly Facllkies. To provide needed improvements to the community's
education, cuttural and other community facilities ta better serve the Project Area.
■ Expand Resources tor Land Dav�lopm�nt To e�and the resource of developable
land by making underutilized land available for redevelopment. _
• lmprove Publlc Infrastructuro. To provide needed improvements to the utility
infrastructur+e and public facilides that serve the Prnject Area.
• Addross Trafflc Clrculatlon and Par4cin� DeAclencies. To improve traffic circulafion
through the roconstruction and improvement of ebating streets in the Project Area.
Provide for neceasary public parking to address parking deficiencies.
■ Provlds Af(ordabb Homeownershlp Opportunities. To improve housing and assist
low and moderate-income persons and families to obtain homeownership.
■ Incress� and Improve the Community's Supply of Affordable Housing. To promote
the rehabilitation of existing housing stock whene appropriate and promote development
of quality, affordable housing.
PAGE 38 OF 74
THIRD FIVE-YEAR IMPIEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
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ROSENOW SPEVACEK GROUP, INC. PAGE 36
RESOLUTION NO. 496
PAGE 39 OF 74
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PAIM DESERT REDEVELOPMENT PROJECTS
�nEw oF TMe �ort ��rra�orr t�
The Agency's second implementation plan, adopted in Deoember 1999, delineated a series of
non-housing and housing projects and programs for Project No. 4, the majority of which were
initiated or fully implemented during the planning period. The Agency's achievements over the
past five years include the following:
■ Construct wall along Hovely Avenue
• Payments to CVAG for I-10 Interchange
■ Acquisition of land for regional park/design of regional park
■ Design and start of construdion of storm drain improvements — Wamer Trail
■ Loan to University of Califomia Riverside for graduate campus
• Storm Drain Improvements
The following summary matrix for Project Area No. 4 identifies those projects to be undertaken
with bond funding within Project Area No. 4(Table 4-1). The matrix describes each proposed
program, gives the projected time frame for implementation, ident�es Agency goals to be
achieved, and identifies the blighting conditions the programs will address. Anticipated program
expenditures are based on projected tax increment revenue e�ected for FY 2004-05 to FY
� 2008-09 and bond funding. Greater or lesser funding may be available; depending upon actual
assessed valuation changes in the Project Area No. 4.
ROSENOW SPEVACEK GROUP, INC. PAGE 36
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
Pro9ram
Time Frame
Goals Achievad
BII$ht Mitigated Estimated qqancy Cost
. .• . . -.
Fr�d Warinp Driv� B�autMcatlon 2004-05 Remove blight Economic maladjustment. dislocatio�. t2,000,000
wid�ninp and wall construdlon thru Improve Public Infrastructure disuse, and substandard design
200&09 Address TrafFc C�rculation and Parking Defiaencies L�miting physical condt�ons
Unai,ahtN and unaound walls
Frwdom Park 2004-05 Remove blight Inadequate public improvements i5,547,39a
Construction of communky parfc fhru Improve Community Facilides Lack of community facilrties
CVAG Inbrchanp�s
Wam�r Trail Stortn Draln
Univ�rsity of CatHomla Riv�nid�
Gradwb Facllky
NNyhborhood Utlllry Und�ryroundfng
(Pro��ct unfund�d)
Art�rial UUlity Und�ryrounding
(Proj�ct paRfaly tund�d, i�6 milllon)
2008-09
20Q4-05
�ti
200&09
2004-05
mru
2008-09
2004-OS
wti
20�8-09
2004-05
Utru
2008-09
2004-05
ihN
2008-09
GRAND TOTAL FNE YEAR NOl�HOUSING PROGRAM COST
Remove bl�ght
Encourage pnvate sector investment
Coordinate revitalizatioNcommurnty development actNrt�es
Impov� Public InfiashuGure
Remove blight
Encourspe pAvate sector investment
Coordinate revitalizaGoNcommuroty development activities
Improve Public Intrastructure
D�versify and e�and economic base
Encourage stakeholder partiapation
Encourape private sector investment
Improve Communitv FaciiiGes
Remove blight
Improve commun�ty facilkies
Improve Public Facurtiec
Diversiy and e�and economic base
Promote compatibk development
Facilkate revicalization
Remove bl�ght
Improve community fadlRies
Improve Public FacilRies
Oivasiy and e�and economic base
Promote compatible development
Facildate revital�zatio�
ROSENOW SPEVACEK GROUP, INC PAGE 37
Inadequate public improvements
Lim�ting physical condtions
and tratflc �nd circulation tacilrt�es
Lack ot inhastrudure and community facilrt�es
Inadequate public improvements
Lim�ting physical cond6ons
and Vaific and dreulation feaiities
Lack of infrastructure and community faGlrties
Lack of inirastructure
Inadequate publ�c improvements
Lack of community taGlities
Limiting Dhysical condtions
inadequate public improvements
Lack of infrastructu�e and commurnty facil�ties
Econom�c maladjustment, dislocation.
disuse, and substandard design
Inadequate public improvemerrts
Lack af inirastructure and commun�ty facilities
Economic maladjustment, dislocation.
disuse. and substandard design
Does not include unlun0ed pro�ects
=4,150,716
i3,100,000
f1,159,000
f5,200,000
s4,600,000
i18,4S7,114
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RESOLUTION NO. 496
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PAGE 41 OF T4
TNIRD FNE-YEAR IMPLEMENTATION PIAN
PALM pESERT REDEIIELOPMENT PROJECTS
Table 42 presents the Implementation Plan's preliminary redevelopment adivity budget
for the Pr�ojed Area No. 4(non-housing programs). Tax inc,nement revenues providad
are net of housing set aside amounts and ta�dng agency pass through payments. They
were estimated based on a conservabve increase in securod and unsecured assessed
values with verif'�ab{e naw development values added. The budget also c�o�taina ather
project revenues, includin� inberest �amings and loan repayments. Exper�diturea wer+e
based on the 2004-05 budget and pmceeds from a pre�vious bond issuance, and 'ndude
bond debt service, and administrativ�e oosts.
(n tatai, tfie Agency anticipates e�ending S 25,757,114 million on redevebpmsnt or
non-housing programs 1t�at will benefd and add►ess the needs of the Projed Area.
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ROSENOW SPEVACEK GROUP, INC. PAGE 38
THIRD FIVE-YEAR IMPLEMENTA770N PLAN
PALM DESERT REDEVELOPMENT PROJECTS
8pinrwny Cash Bdanw !,/l2,702 1.7p,23t 1,tl1,lH 2,�74,71t �,1!l,7ti
112 Yr D�bt i Admm R�q (92�.�Od) (J1,�) 206.e17 (7 6�0) (0,011)
REVENUE:
Tuclncnrt»rR 0,017.457 �,2�7,os1 9,S�,e20 p,lS3,67� 10,14Y,227
O�K R�mb R�cvd 412,000
inar.sc inoom. s4,�ta a�,�aa a.sia �o,ee9 �9,��s
Miae RwlR�imb 225,000 �65,�80 �J1,o06
Tabl Cash i Rw�nw , l,7�f,27i f,�N,1�7 f,f�i,Nt 1,f24,4A 10,22f,l22
EXP£NdTUREi: Doa not hdud� poJ�cfs whkfi r� e�ndbr'a hom ridatlrq bond fund�
ConU�d Exp�nw (Ob1iMt�d) h+elyd�s Pa�s�thrrs� OMt 3�rvla, ERAF Md Adn+in
Ps�s-thru �.e6f,427 5,01S,S10 S,iQS,i75 5,320.951 S,�QO,lfa3
20� S�tAsid� 1,17�.�50 1,a27,N3 1.s��,4t] 1.03t,oee 1.Y97,137
2557 Fw 12�,075 14f,6E7 154,157 15S,7e1 1e1,345
D�btS�rriosupd�bd7/2N04 1,61�,OeS 1,l01,4S7 1,711.�01 1.762.e40 1.E15,S19
ERAf 1/2 Oblfp�tion SID,1E0 S1D.1E7 - -
Prohss'ional FNs 50,000 50,000 50.000 50,000 50,000
Admn Exp(PIR, suvpl 156.000 160,6W 16t,711 177,i50 te6,007
CityAdminExp�ns� 7S,7S0 130,000 1�6,500 1�3,325 150,4l1
T07/1L - Pas�Mrus, D�bt
S�vioe, ERAF �nd Admin !,i!l.tli l.i41,143 l,2q,t�f �,ii1,N7 f,t41,2i1
Capkd Expwu�s (CannMla�)
Fna warUp
CVAG InMnelw�Q�s
W�rt� Tral SAorm Orain
f�e P�I[
UCR C�sdu�M FacMil�r
Caplfal ExawsM (M�nn�d • MO CoueeM Aefbn �t Rpert Dah)
N�phbahood Utllitp Undwyroundirq
Art�id U�Iqt Und�rpioundkq
Tobl CapiW E�ndRun�
4�3744t
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47,074.D04 " ' ' , � -
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RESOLUTION NO. 496
PAGE 43 OF T4
THIRD FIVE-YEAR IMPLEMENTATION PLAN
PALM DESERT REDEVELOPMENT PROJECTS
..T
As detailed in the Introdudbn of this Plan, the Agency is required to produoe an
Implementation Plan ev�ery fiv�e years. After adoption of the first implemeMafion plan, a
new plan is to be adopted every fiva years eitt�er in c�onjuncfion with the housing element
cycle or the implementation plan cycle.
In�n�tb�lbn Pi■n Adoplion Prdo�ss
Each Implementation Plan must be presented and adopted at a duly notice public
hearing of the Agency. Notia� oi tt�e public hearing must be conducbed pursuant to this
Section 33490 of the Law. The iJotioe must be published pursuant to Section 6063 o�f
the Govemment Cade, maifed at feast ri�ree weeks in advance to alt persons and
agencies that hav�e reques�ed notioe, and posted in at least four pertnanent places within
the Project Area for a period of th�ee weeks. Publication, mailing, and posting shall be
comple�ted not less than 10 daya prior to the date set for hearing.
The Agency may amend the implemerrtation plan at any time after oonducting a public
hearing on the proposed amendment
Md-T�m IrnpMn�rt�llon rlr� f�Mw Pnoc�ss
At least once witfiin the fnre-year term of this Implementation Plan, the AQency must
conduct a public hearing a�d hear testimony of all intenested pa�ties for the purpose of
,:, �. �eviewing the redevelopment plan and t1�e corresponding implementation for each
redevelopment projed. This hearing must take place no ea�lier than two years and no
later than three years after the edoption of the Implementafion Plan.
ROSENOW SPEVACEK GROUP, INC. PAGE 40
RESOLUTION NO. 496
City of Palm Desert
Pa1m Desert Redevelopment Agency
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Appendix 1-Five Year Implemenfiafion Plan-Housing Component
Ten-Year Affiordab{e Flousing Complianoe Plan
(2004-05 thnough 2013-14)
,� Draft Plan Revie�nned byAgerx.y: November 18, 2004
' � � ' • • • • •
CITY OF PALM DESERT
73-510 Fred Waring Drive
Palm Desert, CA 92260
RESOLUTION NO. 496
PAGE 45 OF 74
. .� . . .. . � � �:...� . . ..:
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' ��- '��- -•� - ••-
- Ex�utiv� Su�nntary .................................................................... 1
�ntroduet�vn ................................................................................. 4
LegalRequir�nentf�r Nlsetin� AAency's�Housing Oblip�Atbns............4
Complianoe wifh AB 637 and SB 701 ........................................................5
Sumrrary of Clty's Housin� OWi�atbns ........ ................... .. ............. ...8
The Stipula$on Re�ardinp Ai'foMabls Housing ..........................................7
Objectives at the Housin� Strabegy ..............................................................7
MeModoiogy and D�ta Compil�tbn .............................................................8
Aggregatbn of Af�or+dable Housing Units Annong All Project Areas........9
Afbrdabb Housing Provided Outs(de of the Project Aress ......................9
Fk�using Gwfs ................................................................................................9 —
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Red�vebpmerrt Plan Limitatlons ................................................................10
Aftordabl• Housiny Productlon NNds .....................................12
Deflnitbns and qata Compilatlon ...............................................................12
Inventory of Exbting Deed�testricbed Units .............................................16
AffoMableUnib Required ...........................................................................16
Past Indusionary, Cument Fiv�e 8 Ten Year InGusionary Unit Need........17
R�pl�eem�nt Housin� Pr+od�ction N��ds ................................1 S
Estimst�d Housin� Fund R�sourr.�s ........................................19
Housing Set Aside Tax Increment Funds ..................................................19
Targeting of Housing Fund Expsnditures ..................................................20
Income Cat,egories Assisted .....................................................................20
Famiiy and Senior Housing ......................................................................21
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aNacor�wc�� �oo��smaw�csuv�r+ti naooc
RESOLUTION NO. 496
1-
PAGE 46 OF 74
Projeded Housing Fund E�endih�r+es....
y,
Pobentlal Afbniabb Units by Year .............................................................23
Other Fundinp Souroes tor Ffousir� Pr+o�rams ........................................23
Propos�d Af'�brdabl� Houa�n� Initlathr�s ................................. Z3
PMnnin� P�rlod HouNrp Proj�cts and Proqauns ....................................24
Housln� Fund Exp�ndttu�s 19�/00 thr+ou�h 2003l04............ 2S
Houstna stlpalstlon ................................................................... 27
Housin� ll�m�nt Consisbncy ..................................................�2a
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RESOLUTION NO. 496
. .� . • � -,, ,,_�� � , �
Palm Desert Redevelopn�ent��qency
Providing affonlable housir�g has beoome an ev�er-inca�asing problem for cammunities
within the Stat�e of Califomia. The City of PaM Desert is e�eriencing a substantial
demand for housing with an ever-inaeasing demand for af'fordable v�ery bw, bw and
moderabe inoorr�e housing. To address this need and to better ubl¢e both physical and
financial resauroes, the City af Palm Desert ("Cit� and the Palm Desert
Rede�u�elopmsrrt Agency �'Agenc� hav+e preper+ed an Affordable Housing Plan and
Strategy. This strabe�y is focused on meetir�g or axoeeding the indusionary housing
unit production requirorr�er�ts af CaHfomia Community Redev�elopment Law
("Redev�elopment Lav�, the Stipulation re�arding affoniabie housing and the Regional
Housing Needs ANocation (RHNA) new aonstrudion fi�ures.
This document, the Af'fordabie Housing Plan and StrataBY serves as the Agencys Five
Year (2004A5-2008/09) Impl�: : � �: I.; � n Plan's Housing Component and Ten Year
(2004I05-2013114) Housing Complianoe Plan.
Community Redevebpment Law
�
�
The Housing Strategy eenres as a bluaprint for cument and future Agency acfivities �o
meet its bw and moderabe inoome housing responsibilities. The Housing Strabegy
presents a summary of the. Agenc�s afbrdable housing progrems. It atso presents a
reconaliation af the Agenc�s replaoemeM housny obligations and provides a forecast �
of the number d housing units fhat aro or will be neecled bo be reserved and atfondable �
to v�y law, low and ��! : �o :e income persons or families ov�er the next ten years ('6scal .
years 20041�5 through 2013l14) and until the tertninatio� af tfie Redev�elopment Plans.
The Agenc�s e/forts to produoe affio�dable housing over the fast 10 years (199M'95
through 2003/04) hav�e resulbed in the Agency exoeeding its 10 year affordable housing
unit requirements.
The Agenc�s prior 1Qyear indusionary housing unit need was established by a
detailed reviaw af housing units buift or substantraly rehabilitated in the Projed Areas
from adoption througfi Jur�e of 1994 and projedions of units b be built or substantially
�+ehabilitated from July af 1994 th�h June of 200d. It was estimated that the prior 10
year unit need was for 868 aff�niabie housi�g units af whid� 354 w�ere r�equined to be
specificaly nestrided for v�ery law�ncome tiou9eholds. During this period, tl�e Agei�cy
sucoessfuly cr+eabed or facilitated the restriction of 1,349 units affadable to bw and
moderabe income haisehokis with 594 of these reserv�ed for very low inoome
households. The Agenc�s 10 y�ear pr�duaion of affordable units has created a s�xpius
of 481 units which Redev�eloprr�ent Law albws the Agency to carry ov�er to 1he �ext 10
year period (2004/06 - 2013/14). Additionaly, the �qency is curtently developing
and/or supporting private projects fhat 1 will result in the r�estridion of 134 new affoniable
units.
Projections for the current 10 year period, 2004lOS through 2013J14 have established
an indusionary housing unit need of 899 affordable units, of which 361 must be
restricted as aiforclable to very bw inoome households. The 899 unit fi�ure does not
PAGE 47 OF 74
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ROSENOW SPEVACEK GROUP, INC. PAGE 1
RESOLUTION NO. 496 PAGE 48 OF 74
AFFORDABLE HOUSING STRATEGY 8 COMPLJANCE
PALM DESERT REDEVELOPMENT AGENCY
� , account for the Agency's carry over units and those new unifs cumenUy undervway.
Therefore, a�%r a000unting for tlies� credits and units undervvay the Agency's
nemainuig 10 year unit rieed is for 284 al'fordable units, 95 of which must be nestricted
for the very bw inoome.
Stlpulation
On May 15{ 1991, the Superior Court of the Sta�e af Califomia !or Rnrerside County
enbered a Fnal Judgment in oerfain legal adions betw�een the Westem Genter on Law
and Pov+erty, Inc, the Califomia Rural Legal Assistanoe� Jonatl�an Lehner�raiw� and
the City and Rede�eloprnent Agency af Palm Deseit (fhe "Parties'�. The Judgment
incorporated tertns of a 5"tipulation for Entry d.h�dgrr�ent in the Ca9e (the 'Stipulatbn�.
The S'tipulation and sub9equent amer�dments impoees oertain ongoing oblgaticns �r
the Agancy with respec� to afbrdabb housing within the Cihr. tt also pro�vides that the
Court continue tQ hav�e juriadiction over the matters oovered in the StiEwlation for the
purposes of enfor�cement of the Stipulation.
The Stipulation r�equires that the AAency develop, rehabilitabe or aoqui� or cause to be
dev�ebped� r�ehabilitatsd, or aoquired, within the City, af%rdable housing units in specfic
amounts durir� �r :,.r�: ,1 periods. Cumer�t a000untinp �ndica�es a Stipulation
Production need of 1,205 af�ordable units by 2006. The A�enc.y has pr+ovici�d 1,152
units leaviny a deticiency of 53 units, which must be prod«oad by 2U06.
Housin� Element RHNA Housiny Units
� The Housinp Ele�ne��t af fhe City of Palm DeserYs General Plan astablishess a houaing
program that sets a 5-year scheduk to adibve goals and objectiv�es. The Housing
Element ide�fias suitabb si0es for the deu�eloprr►ent of houairq units, qusnMies tlie
number of units bo be croeMd by inoome level, and estirn�bea fhe amount d hmds
avaitable for halaing programs bo rrieet the RHNA fgures. Additi�onaly, the Housing
Elemei�t ideMifies additanal policies and pro�rams b meet tfie housing needs d Palm
Desert Cument RHNA housin8 unit rwrr�s cover the pe�iod of 1998 thrnugh 2005.
The total unit need for this period is 443 units of which 229 muat be provide fo� very
lav, bw and modera�e income persa�s or househoids. To dabe the City has provided
127 unit,s leavin8 a deficiancy o�f 102 unita fio be provided during the next 13 months. _
Housing Pr+o�rams and Projects
The City and Agency are proactiv�e n ensuring that affordable haisi�g is dev�ebped
witl�in the four RedeMelopment Pruject Aieas and dtywide. Projects and programs
antiapated bo address 1t�e City and Agency's housing respor�.sibiiities indude:
ROSENOW SPEVACEK GROUP, fNC. PAGE 2
RESOLUTION NO. 496
PAGE 49 OF 74
AFFORDABLE HOUSING STRATEGY � COMPLIANCE
PALM DESERT REDE1/ELOPMENT AGENCY
♦ AfCorc�able Housina Prole�ts undervvav: Pakn Vifage qpartrr�er�ts, _ �
Reooris�uctiori/Substar�ial Ref�abi6fation of 12 units and cautrudion d an
addidon�l 24 twabedroom units. Se� He� Housir�Merie S'treet — wi produoe 14 ...
th�e-bedroom own�shQ dw�eAinDs� al r�ese�rved for v�ery law �oome households
♦ New Construdion of Owi�ershio Units: Construdion of 95 la�e family sngle
famiy hornes on an 18 acre s'ite. The lhree and fiour bedroom homes wiil be
r+eserved for bw and � J:��., inoome households.
• Dev�eb�ment of Senior Cit�en Housin� The Agency wiM pursue the
dereloprr�ent of 26 naw senar housing units witt�in the community. This pcojec�t
is targebad bo neserve 13 a�fordable unRs for the v�ery low (ru�.ome and 13 units
for tl�e lo�w-inoome �enior.
♦ Si�le FamiN Rehabilitation: The Agency will continue its sucxessful singie-
faITlrliFy i�eflabilltadldl f� �,�,�a �,. it is estimabd lhat 30 un'ds of affordable housing
wiA be assisted durin8 the next fiv�e years.
♦�familv Rehabilitation: The Aflenc.y wiN pur+chase and rehabilitabe sUtable
rerrtal proparties, fhereby providin� af'fordable units. 30°� af fhe total numbe� of
unit,s aro t� be for bw and v�y law inoome petsons af whicfi not less than 50%
of these units will be very b�w-inoome aftadable housing units.
♦ Provide Develoaer Incentiv�e — The Agency will provide ftnancial assistanoe
wers neoessary and appr+opriaba to secure �tricbad covenarrts on p►ivaieiY
dev�eloprnent new single famiy and muMi-family housing units. -' �
Programs identifiad in the City's Housing Elert�ent that are anficipabad for -
implernentation during fhe next ban year period lhat ar+� cumerrtly under development by
Agency staff are:
♦ Mortoas�e Subsidv Proqram - Very law, law and � J;: �: ': �� inoorr�e awners of
single#amily horr�es, oondominiums and mobile homas may r�eceiv�e assistartoe
if fheir mort9a9e PaY�'�ent exoeeds 30°�6 af thei� inoome. Assistanoe will be
provided directly by the Redevelopment Agency. In excf�arx,�e for the
assistanoe, the home owiier wiN be required to enter into a recorded agneernent
with the Agency assuring affordability o�f the home for 45 years.
♦ Rental Subsidv Prnqr�Ln - Owners of single#�amily homes, oondominiums,
mobile horr�es or apartrnents who �rrt t� v�ery law, bw, and moderate inoorrie
ter►ants may reoei�e dired rental payment assista�nce from the Ayency. The
awner muat, in exchamge for the assistanoe, enber irrto a,� :,. � J: J agneernent
with the Agency assuring af'fordability of the rental units fo� 55 years.
♦ Homeb�nrers Proaram - The Agency wiA provide assistance to very low, low,
and rraderate income persons in the form of law inberest loans to be applied to
dovm payme��t, non-r�ecurring dosing costs, reduction of the inter�est rate on the
first trust deed, or any other oost associated wilh the pur�d�ase of a home.
�
ROSENOW SPEVACEK GROUP, INC. PAGE 3
RESOLUTION N0. 496
PAGE 50 OF 74
AFFORDiABLE HOUSING STRATEGY b COMPLIANCE
PALM DESERT REDEVELOPMENT A�GENCY
�1
This documant is fhe 2004/05 Affordable Housing Plan and Strategy ("Housing
Strabag� for 1he Gty o�f Palm Deseit and fhe Patm Desect Red�v�bpmet�t Agency
and serves as the Housing Cornpor�ent for the AQenc�s Fiv�Year (2004J�5-2008�109)
Implementation Plan and �en Year (2004I0�201 �114) Atfordable Housing Compiianoe
Plan. This Ha►sirp Straiegy s000rnpanias the ABencys Frve Year Implerr�entation
Plan, which was adopted along wilh 1t�is Hot�sing StrabeBY by 1he Agenc.y following a
duty notioed public hearing held on Novernber 18, 2004.
This Housing SbabeBY r�eviews the need for af'fordable housing within the oommunity as
detailed in the City's Gene►al Plan's Housing Element' R also addresses isst�es reiated
to the Agerx.�a pbli�atbns for af�ordable housing apreed bo under fhe Stipulation for
Entry of Judgment in Case No. Ind'a 51143, entitfed Citv af Palm Swirx�s v. All
Persais Interested an May 15, 1991 and the subsequent 1997 arid 2002 Stipulation
Amending the 1991 Stipulation for Entry af .h�ci�rnent ("The Stipu{ation Regarding
Affadable Housing�.
Serving as fhe requined housing complintioe p{an, this Housing Strategy cave�s
collediv�ely all of the Apency's Redev�alopment Projed Areas
• Project Ar+ea No. 1(Original and Added Territory)
��
■ Project Area No. 2
■ Prujec,t Area No. 3
■ Project Ares No. 4
Tha City.Council af the Ci1y of Paim Desert established the AAency in Oc�ober af 1974.
The Age��cy's first neda��elopment projed ar�ea, Projact Area No. 1, was adopted in Juy
af 1976 and subsequentiy amer�ded in 1982 to add territory. Sirtice then, the Agency
haa adopbed lhree (3) add(�onal redevelopment prnJed areas Projed Area No. 2—
establ'�st�ed in 1987; Projed Area No. 3— established in 1991; and Project Araa No. 4—
established in 1993. The Age�cy has acoomplisF�ed numefous redevelopme��
dev�elopment, and irifrastrudune projects that hav�e revitaliaed many properties witt�in all
af its Projed Areas. The Agency has also made a substantiaal eRort fio improve and
inaease the City's supply af affondable housing, The Agenc�s four (4) adopbed
r+edev�elopment pro�ec;t areas encompass an estimated 11,771 acres of the Cit�s
inoorporated tenitory.
L+�pal i�q��ir�rr�ert 1b� M�tlr�p Ap��s Ho�i�p O�i�tio��s
The required houstng portion of the Implementatian Plan (Housng Strebegy) serves as
a blueprint for cument and future Agency ac.tiviti�es t� meet its low and moderate income
' The Cily's F�oueing Element was adopted by the Gty Counal on Febn�ary 14, 2002 and
certified as oonfortning bo State l.aw by the State Department af Housirg and Cammuriry
Development on May 22, 2002.
ROSENOW SPEVACEK GROUP, INC. PAGE 4
RESOLUTION NO. 496
PAGE 51 OF 74
AFFORQABLE HOUSING STRAiEGY b CAMPUANCE
PALM DESERT REDEVELOPMENT AiGENCY
housing respau�bilities. This Fbusir�g Straiagy presents a summary of tlie Agency's �
indusbnary and replaoerr�ent housin8 programs as mandated by Sections 33413(a)
and (b)(4) and 33490(a)(2) and (3) af the CaCdomia Community Redevelopment Law, �-
HeaMh and Sa�ety Code Section 33000 et seg.. Speaficaly, it presents a recaiciiation
of the Agency's replaoeme�t housir�g obli�ations. It provicles a forecast af the rwn►ber
af housing units� that are or wtll be reserv�ed and af�adable bo very low, low and
moder-abe irx:ome persons or famiC�es ov�er the ten Y� P�+� Pe�pd (� Yeara
20a4-05 throuyh 2013-14) and urrtil the be�mination of the Redevelapment Plans.'
This AAency plans to faaTitatie the creati�on of the nequin�d number of afforciable
housing units within this timeframe.
Can�lianc� wilh I1S a37 and �t 701
This Housin9 Strats9Y is consisient w� ieoerrt chaiiges enac�ed ini� Reciev+elopment
Law pursuant to Assemby BiN 637 (Lowentha� and Ser�ate BiN 701 (Toriak,son).
Among tl�ese si�ificant ame�ximents are:
➢ 55l45 Year Minimum AfFordabilihr Periods: Eifedive Jarxiary 1, 2002, all units
as.sisted by fhe Housing Fund induding replaoerr�ent ha,tsin8 units and production
housing must be aflbrdable for 55 y�ears (r�ental unifs) or 45 y�ears (awner-0ocupied
units). Units assisbed, rehabilitated or construcred prior to January 1, 2002 may
hav�e shorber tirr�e �rtiits.
➢ Substsntial RehabiC�ta '�n: Betw�ee� January 2002 and January 2006, a
recie�relopment agenc.y is ony required to indude in iL�s hous��g prod�cbon
obligations those nurribers of unRs generated by fhe subs�arrtial rehabilitation of -�
multifamiy units assisted bY the aBencY- �utside ai this time frame, substa�ally .•••.
rehabilitated dwep'mg un'ds means substantially retwbaitaoeci multi-#amiy rental
ctwelling units with three or mo� units �gardless of wheft� tl�ene is agenc,y �
assistanoe, or single famiRy units substantially rehabilitated witt� agency assiatar�ce.
➢ Ta Housina Fund E�r�ditur+es: Efiective January 2002, the
Redevelopmant Law no�w requines that Housing Fund assistanoe during fhe
Implementation Plan period mimor the oortununit�s needs, both in berms d fhe
income categories needed, and the number of famiy (v�ersus senior) housing
2 The Redevelopment Lsry definea sx
- Very Low - Not moro than 309f. d 5096 d the County median housd�old inooms.
-�- Not moro than 3096 af 7096 (or 8096 for rontal projects) cf the Courtly medan fwusehold
inoome.
-�- Not more than 3596 of 11096 (or 30°� af 120% for rental prnjeds) d the Cau�ty
mecian ha�sehold inoome.
' The Redsvdopnent Law defines and limits incame �..; �,.,r .'.,� aa fWaws: Yery L,aw Inoorrts -
persons or households whoae gross inoome does nat eocoesd 5096 of the aroa's mecisn incame;
Law�lt ,come - persons or households whoee groas inoome aro groster than 5096 but do not
exceed 8096 af the aroa's median incame; Moc�r�ts-lnoome - peraons or households whose
gross inoome are groater than 8096 but do nd exoeed 12096 of the aroa's median inoome.
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ROSENOW SPEVACEK GROUP, INC. PAGE 5
RESOLUTION NO. 496
PAGE 52 OF T4
AFFORDABLE HOUSING STRATEGY b COMPLIANCE
PALM DESERT REDEVELOPMENT AiGENCY
neede� 4(fhe Redev�elopment Law provides an additional fire years to meet this
� �equirernent if an agency deposibed less than �2 miHion over the first five years of
1t�e ten year period cov�er+ed by 1he housing portion af an impiementaGon plan.)
Sun�n�rY d C1�s Ho�i�p Oi�tlo�
State la�w requires each local aty and oounty in the stabe to have an adopbed
oomprehensiu�e ge�ner�l plan for the c�ommunit�s physical dev�ebpmer�. Tt►e State also
mar�dabes that one af the required eiements of ihe ��eral plan is a hou�ing element
The stat�e Faw also requines that the housing element aF a oommunity addnass the
housing needs, bdh e�asting and prvjecbed, af aN economic ., :� ;, .ta aI the
�ommunity. The hansing elernent must address land uee and �ulebory issues that will
provide opportunides for ifie dev�elopment oi all typea af housirig. it eshabfishe� fhe
communit�s goals and d�jectives wilt� rogaRi bo housing pr�duc�ion, �+ehabilitation, and
oon.9ervation bo �meet the iderdified needs. The Hou.�ing Eleme��t a4so ciefnes the
polides and pr�ogrems that the oommunity wiN implert�ent to ad�iav�e the stated goals
and objediv�es. The Cit�s Housing Element must provide the folbwing infomiatfon or
detail the adior►s neoessary bo meet speafic outlined �oals:
➢ Quantify pmjecbed ha�sin8 rieeds af the community utiliiu�g the regbnal
housing need allocation rrwciel ("RHNA'�, proch�oed by the Sa�fhem Ca�ifomia
Associatbn of Gov�emntents (`SCAG' .
➢ Make a diligent efFort bo achieve public participation in tfie preparation af the
dowment.
_ ..._
➢ Assess housing needs and analyze reaouroes and oonstraints.
➢ Estimate amau�t af funds available for housing programs (projed �
redev�ebpme�t housing set-aside tax ina+ement fiuxis and otl�er souroes of
housing funding)
➢ Establish a ha►sh�g program tfiat sets a 5 year �d�edule to achieve goaRs and
obje�tiMes
➢ Cit�s Housing Program must identify adequata sites-witt� appropr'rate zoning,
devebpmexrt standards and public faciitias tFrat: - �
♦ enoourage dev�elopment of housing for all income bvels;
♦ provide tor dev�elopment af aM housing types (multitamiiy neMal, mobile
home, fart�n worker, fadory-twift, and emargenc.y shelte�;
• assist in dev�elopment af housing i� meet needs o�f bw and moderabe-
inoome houseliolds;
� Aqocation af a rodevdopment apenc�s tax inc.��nent ha�ing set asids dollara murt at a
mirwnum be allocated to very low and law ir�me persons at least in the seme propor6on to fhe very
bw, bw and moderate incame unit need idsntified in the communit�s housing element (as
eatablished by the regions housing needs allocabon). Additionally housing set aside funds allocatsd
for per,�on 65 years of age or older must not exaed the proportion af tt�eir number to the general
population.
ROSENOW SPEVACEK GROUP, INC. PAGE 6
RESOLUTION NO. 496
PAGE 53 OF T4
AFFORDABLE HOUSING STRATEGY 8� COMPLIANCE
PALAA DESERT REDEVELOPMENT AiGENCY
♦ address govemmentaf constraints; `'
♦ promote equal housing opportuni4es for all; and �
♦ preserve assisted bw and mocierabe-+noome housing from risks af market
conversion.
➢ �uantify objecWes (tmits) by income levels for:
• Construdion
♦ Rehabilit�tion
• Consetvation
➢ ProBrams must be consisbent with other elemer�ts af Ge�neral Plan
Tha City af Palm De9ert's Housing Element af the General Ptan was adopbed by the
Cihr Ca�rx�l on Febnlary 14, 2002 and �ied as meeting ti�e requiremenfs d Shabe
Law by tfie State Department o�f Howing and Community Devebpment on May 22,
2002.
7?� �t�lwtlon �gar��i Af�d■l�i� Housi�p
On May 15, 1991, the Superior Court af the S'tabe of Califomia for Riveraide County,
entered a Fnal Judgmerrt in oertain legal actions betwecn the Wesbem Ceni� on Law
and Poaerty, Inc, the Califomia Rural Legal Assistanoe, Jonathan Lehr�er�raiwer and
tfie City and Redevelopment AAency af Palm Desert (the "Partles"�. The Judgment
incorporated t�ms of a Stipulation for Entry of Judgment in the Case (the `Stipulalion'. �
The Stiputation and subaequent amendmerrts imposes oertain or�goin8 obligations o� ��
the Ayency wkh nasped to af�ordable housirg within the Cih►. It also pnovides that the .
Court continues bo hav�e jurisdiction ov�er fhe matters cov�ered in the Stipulatia► for tt►e
purposes of enforoernent of the S6ipulation.
The Stipulatbn roquires tfiat the Agerx.y dev�elop, r�ehabilitate or aoquire or cause bo be
developed, rehabilitated or acquired, within the City, housing units affordabb b� bw
income per�ons or families in specfic amounts durin� .�, ;, ,; �I'� J time periods.s
06j�efl�s d 1� Ho�si� �tra�b��p/
This Housing Strategy has been devebped to aocomplish the follawing objectiv�es:
➢ An assessment of the Agencyrs corrp�liance with all aspects of tfie Redev�elopment
Lav�s various affordable housing requir�ements arid r+eplaoement housin8
requir�emer�ts, induding curtent and iubure need for indusqnary units and the use af
housing set,aside funds.
' Restrided income categories required by the Stipulation aro mor+e restridive than those
required by Redevdapment Law.
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ROSENO'W SPEVACEK GROUP, INC. PAGE 7
RESOLUTION NO. 496
1
PAGE 54 OF 74
AFFORDABLE HOUSING STRATEGY & COMPLUWCE
PAUN DESERT REDEVELOPMENT AiGENCY
♦ To aooax►t for tfie number of aaf'fordab{e dNreNing units, either constructed or
substantially �habilitatied, in the Pnojec:t Aneas sinoe adoption;
♦ To fnnecast the estimabed number a# dweliing units to be privartey
dev�eioped or substantialiy rehebiNtabed betw�en fiscal years 20041U5 -
2008�I09 and 2013J14 arid ov�er the d�xal�ion af fha Redevelopme�t PFan;
♦ To torecast tfie estimated rwmber of dweNir�g units to be dev+eloped or
subatantialy rehabiUfabBd by the Apency belw�een fi�c;al years 200�1A5 -
2008J09 and 2Q13M4 and o� the duretian of the FZedev�eiopment Plans;
♦ To a000�urt for any low or modetHbe inoorne hou�ing units destroyeci
tfir+ougl� the Aeency's implerr�entation of the Redevdopment Plan;
♦ To verffy the number and type of replaoemerrt un'rt.s pr�vided by the Agency
in ,:,�, �, �,. .. b� any units destr�oyed th►�ouph AQenc.y adion;
♦ To Project the availability af A�ency revenue for hndirp affordable housing
production;
♦ To eshablish a timeline for impb : � �� �,d, fhis Housing Strabagy b� ensune
that the r�equire�r�ents of Sedion 33413 ane met during the te�yeer period
between fiscal years 2004I05 and 2013�114;and
♦ To r+evie�w the oonsisbency of Agenc.y affor�iable housing poab, objecti�res,
and prog�ms pu��ant to the Cdy of Palm DeserYs Housing Ebrrient.
➢ To examine tt�e issues associabed with the marxiatory impositi�n of inck.esionary
� adfnrtiabilihr obligations on all new housin� projects oonstructsd in the Project
�
Ar�as.
➢ To assess the Cit�s and Agency's curnent housing pro�rams and negulatians to
debermine how well it�ey oontnbute to rr�eeting the Agenc�s housing obNgations
under the Redevebpirertt Law.
➢ To reoorrunend housing strategies, potential pnn�rams and specJ'�c projeds that will
meet the Ager�s and the CitYs ha�sing obtigativns.
➢ To icienti�y implemditation polideslp�+ograms and po�t�eiitial siOes for afbrdable
housing dev�ebpme�rt.
➢ To quar�t'sfy tt�e at(adable housing requireme�ts imposed upon tt�e City and
Agency by the Stipulation.
Nl�tl�odolo� and DrR� Co�r�Nlon
This Housing Strategy takes into account all residential oonstruction or substantial
rehabilitation 1t�at has occumed within the Projec� Aneas since their adoption.
Information fivm ba�h the Planning and Building Divisions o�f the City's Community
Dev�ebpment Departrnent waa pr+avided and revieMred in ader b� acaourrt for sudi units
and tbereby calculate the Agenc�s overall alfordable housing production needs. The
Strategy accourrts for exi,sting r+esidential conshudion and substantial rehabilitation, and
includes projections of new ciwelling units that may be constructed or substantially
ROSENOW SPEVACEK GROUP, INC PAGE 8
RESOLUTION NO. 496
PAGE 55 OF 74
AFFORD�ABLE HOUSING 57RATEGY � COMPUANCE
PALM DESERT REDEVELOPMENT AiGENCY
rehabilitated durina the te�year planning period and over the remaining period for —
which each o�f the P�jed Aneas Redevebpment Plans are effective.
App��lion d AAbtd■bi� Houainp tJ��lls Arnap I� �t A�s
Sec�ion 33�413 (b)(2)(A){v� of fhe Redevebpment law provides that rede�relopmertit
agenaes may "aggregabe new or substantiapy rehabilitated dw�elling units in one or
more prnjed areas if the agency firids, based upon substantial evidenoe, after a public
hea�ring, tt�a�t tfie.aggregation wifl nat cause or exaoerbate raaal, etlmic, or economic
se9ne9ation."
The Palm Desert RedeMeiapment Ager�cy witl� ti�e adoption aF its 1999 Housing
Complianoe Plan has previously taken action bo aggnegate As new and substantially
rehabilitated unifs amcxig all of its (four) Pr+oject Aroas. The Agency wiM consider similar
adion at the Public Hearing scF�eduied to co�ider the adoption of this Housing
Str�aieBY. It is anticQated that based upon the evidenoe provided the Agency will find
that the aag�gatbn of its afforclabb houeing obuigadons betw�een its Projed Areas, is of
bene�'it to the Projed Areas and fhe community, ar�d that such aggregation wAI not
cau9e or exaoerbaie raaal, athnic, or eoonomic segregati�on.
A�otdabi� ilousir�p Pno�rfd�d O�� d 1h� P�v�ct A�s
Section 33413(b)(2)(�►)(i) af the Redev�etoprnard Law provides that fhe Age��cy's
obligations under Section 33413 may be met by providiny af�ordabb housinp outside
the projed areas on a two for one basis. During the adoption prooess for eacfi of the
Projed Areas, the Agency adopted appropriate resolutions thad allow tfie Agency to
e�end its twenty pernent (2096) housing seE�a,gide money outside of each resped'nre
Projed Anea. To dabe, the Ager�cy has cr�eated or reserv�ed the vast majority of its
affordable units wilhin the Project Areas. Howev�er, the Apency will, if appropriatie,
oonsider funding aifordable housing projec�s or programs a�tside vF the Projed Arees
when neoessary. - -
Howinp Qoais
The housing goals for the term of this Housin� Stratiegy ar+e:
➢ To inc�ase, improve and prese►v�e the Community's supply of bw and moderate
income housing citywicie.
➢ To cony�ly with the replaoement and indusionary housing �equiremerits mandated
by Redevebpment Law.
J`�
_.
ROSENOW SPEVACEK GROUP. INC. PAGE 9
RESOLUTION NO. 496 PAGE 56 OF 74
AFFO�DABLE HOUSfNG SiRfiTEGY � CAMPLIANCE
PALM DESERT REbE1/ELOPMENT AGENCY
➢ To leverage the Agency's Housing Fu�ds with other �esouross in orcler tv promote
� affordable housing.
➢ To insur�e that the dolfars spent for ger�er�l adminishativ�e adivities are not
disprnportionaie to the amounts adualfy spent to produoe, increase, and preserv�e
housing.
➢ To give priority to housing proposals that will eliminabe or prev�ent the spread of
blight Citywi�le and deaease exoess demands on public servioes such as pofice,
oode errFo, �:. : �; and buikiing and saf�ety within fhe Project Areas.
➢ To utilize tl�e Palm Dese+�t Housing Authorit�s �Housing Autfiorit� resouroes and
po�w�ers as tooFs to implerr�ent and assist vrith the deMelopment af aRordable low and
rnoder'ate income 1�a�sing.
➢ To utllize tt� Housing AufhoritYs e�forts to prnvide afFordabfe bw and mocierate
inoome housinp and to stabilize problem mul6famity Pmjects and distrossed areas.
➢ To prvvide dir�ec�ion in the devebpmerrt o�f housir�g programs and projects that over
6me w►il enable fhe City artd A$enc,y to meet �eir ovmbinad hot�sir�Q obfigatiorts.
➢ To oontinue to meet the af%rdable unit requirements set fnrth in the Stipulation.
Sinoe the adoption of the first HousinS Plan in 1993 (ft�e "1993 Housing Plan'�, ihe
Agency through the e?�orts of the Housing Authority has acti�reiy pursued prblects,
programs, and adivities that meet the AAenc�s goais as set out above. The prbjeds,
'`' programs and ac�ivities have been designed to sign'�ficantly uxx�ese the number oi
affordable v�ery bw, law and moderated 'noome housing units within the Community
and to improve and upgrade the Community's housing stodc and improv�e the ov�eraM'
quality of life af resider�ts of Palm Desert.
R��loprr��t Pl�r� L.In�IfaUons
Redevelopmer�t Law providee that oertain limitations on redev�ebpment and financing
activi�ies must i�e imposed on �e Redevebpmertt Pfans Additianalfy, c�anges in the
Redev�ebpmer�t Law hav�e and may conti�ue changes in indiv+dual P�+oject Area
limitations. Ti�ese limitatbns affed the tertn that fhe Agency may pursue nevitalization
e�fforts and among other thin8s the amounts of tax increrr�eM rev�enue aivailable for
housing acxivities. The follo�wing Table 1 summarizes the Project Areas
Redevebpment Plan limitations.
ROSENOW SPEVACEK GROUP, 1NC. PAGE 10
RESOLUTION NO. 496 � PAGE 57 OF 74
AFFORDABI.E HOUSING STRATEGY � COMPLIANCE
PALM DESERT REDEVELOPMENT AGENCY
TABLE 1 '
PALM DESERT REDEVELOPMENT AGENCY
-.• • .� .
�lan I.MNb Or1�4w1 ArM Add�d T�rIOo� Proj�d ArM No. 2 Proj�et A�a No. � ProMct Ans !b. 4
Otl� dAdoptfon July 16.1�73 Nov�rtib�►25, 19�1 July 13, 1067 July 17. 1��1 July 19. 7D�3
' EfA�CrwnMs d PIaN1/2 JuN 16, 201E NovenlbK 2S. 2022 July 15, 202a Juq►17, 2032 JuM 19, 2034
Taxlnasrt�nt i7b0,000,000 =300�000,000l3 I ii00,000,000/5 360,00O,OOQr� t200,000,000/S '
e«�d.do.ncum+cr� r�oo. - szoo,000,000rs I:�so,000,00as I�oo.000.000rs seoo,000.000 cross
s�ss.000,000r�
Llmit b k�cur D�bt Elminandf4 EMminabdl4 � EI(minatW/4 � ElkNnabdl4 Elinrrwt�dl4
Lh�it on R�CdNrq Tax
kfCe�n�R and Paylnp
Ind�El�dnMsf2 July 16. 202d Novwr�r 2b, 20.92 JtAr 15, 203! I JuN 17, Z042 JuM 19, 2041
1. Punuant to Nwmbip S� 12D0 aY pn 19N n. ., piaj�cis w� nq�i�d M adopt ap�oMc Ynw MNrMons. On O�e�nbr /. t W4 � Gly
Card adopbd � rpuY�d Or�nr�as �st�I�Alrp wdi Wnks fa wd� Pioj�ct ArM.
2. hnurM b 3�nals � 1013 SUpA�s d 200.1. prPlr 2e0)� whkfi w�s «�.Yd YMo I�w in S�phn�Dr d 200.t. w� Gly Cand w� hw� Ilw ahNty to
�wrid wah P�aj�ot Nw PMn� �Ghiww� 1br tlu ynr prfod W coMd f�c Yw�nwu bp an� �r.
�. Tsc kwrnwM op �ndla baW� drlt ieN k aoMrMr� d aew�nh p�W lo la+ip a0rid�s �rW acMwM af amwMs P� d��dY a��Y M tM
��Y a► ��0 �Y to irw� � ao¢�IrMon of ird� oon�tfuctlal d bW Algs. f�oMlMs. �Muotu� or' ,. ,}a such ts�fp ap�ntirs.
4. P�rsurM b 3M�M� !A 211(dlNws W 2001 Cfwipt�r 741) M CAy Cound �doplM M� nluk�d OrdMw�c� «nwfdrq w� ProMr2 /4Ns
�. .,, Plr�a to �MrM ri� Wn� �nks b Yiar d�bt.
s. Mw�rk..a}�d arr.uw w cw,.an. Prb. �nd�x (cPn
�
�
�
ROSENOW SPEVACEK GROUP, INC. PAGE 11
RESOLUTI�N NO. 496
!
PAGE 58 OF 74
AFFORDRBLE FIOUSING STFL4TEGY 8 COMPLIANCE
PALM DESERT REpEVELOPMENT AGENCY
This seation describes the Aperx,y's housi�g production needs for the next ben y�ears,
which is oomprised aF tvw fiv�y�ear ptannin8 periods ('200�4A5-2008/09 and 2009✓10-
2013i14) and over the duretion of the Redeveto�pment Plans.
D�li�ldo�ss and D�fa Compi�fian
This Housir� Str�abagY takes ini� account aq necidentiaal oonstrudion or substaiitial
neF�abilit�ion that has ooaured within Ihe Pr+ojed At� ainae theic ado�tio��s in o�de� to
de0ertnine affordabb houaing prodt�ction needs. This Housin9 ��9Y indudes
fi8uros f�r e�atin8 nesidential construdbn and �ubstaMial r�ef�abiitation, and projections
fa the nurr�ber d addibonal dw�e�W� units to be constnx�ed or substantialy
rehabiGtabed durirg the neoct ben (10) years and over the 4fe of the Phans. The fopawir�g
sectio�ts define '4�ew oortstrtx�ion" and "9ubstantieliy netrebilitaied" as used in this
Housir�g Strate�y, as weN as !he methodolosy used for oollectii�g data on both existing
ar�d pr�oJectsd haieing uni6s.
➢ New Co��. The A�erx.y and City Planning staf'f provided the original
construc�o� � used in the 1993,1994 and 1999 Na�sing Plans.
Beceuse Redev�elopmsnt Law does not pr+o�vide a dear definition af new
oonstruction, fhe AQency staff, oonsultant, and legai oounsel have agreed upon
_'' a"defiiiti�on" for ne�w oonst�udion. The de(b�idon: "inew consUuction ooa�rs
when buildiny pemrts are iss►aed for and �x�bn oxurs resuMing in the
de�v�elopmerrt af a new d+�eYirg unit" was u�l¢ed to a000urrt for unils oonsidered •
develo�ed from the �espectfve adoptior�.s af the Project Areas until the 1993
Housing PFan pneparation. Therefore, ap units constn�cted during this 6me
period vwukl fall under the requiremerrts for the produdion af af�ordable
housing units wifhn the Project Areas pursuant to Se�tio� 33413 af the
Redev�eloprnent Law. Counts of new dwellin� units denrebped from 1994
thnwgh 200�4 wer�e basad upon an examination a( City building permit r+eoorcls.
➢ Futu�e p�oiedior�s af new uni�s. P�jedia�s af (uture ne�w units have been
based an General Plan land use densities and avaMable vecant tand. The
Community Devebpment Dir�edor and his PFanning staff hav�e review�ed the
General Ptan densities af residen�aly zoned vacant land wiffwi the Projed
A�as to debertnine the pot�ential numbars of new and �nti�ally nehabilitabed
units that can be ..�,. .,l�: .l to be devebped over tlie remaining e�Rectiueness of
the Redevelopment Ptans. The results of this review deterrnined that wifhin the
next te� years Projec� No. 1(Original and Added Tertitory), Project Area No. 3
and Projec� Aree No. 4 will reach build out Oniy Projed Area No. 2 will still
hav�e remaining vacarit land ihat may generabe additioc�al new dweAinB units.
➢ A�encv Dev�eloned Units. ft should be nobed with the exoeption of the Palm
vllage Apartments, a new construcdoNsubstantiat rehabilitation afrordable
housing projed now underway, projections for iutune c1w�eNing units in the
ROSEt�IdW SPEVACEK GROUP, INC. PAGE 12
RESOLUTION NO. 496
PAGE 59 OF T4
AFFORDABLE HOUSING STRATEGY b COMPUANCE
PALAA DESERT REDEVELOPMENT AGENCY
Projed Areas do not indude units to be developed by the l�qency. Acoording to -�
Agency stafi, the Agency does not anticipate dKedty devebping or
rehabiCit�tir�g any dw�elling units which would trigger the thirty pencent (30%)
affordable housing requir+err�ent of Section 33413(b) (n within the ten (10) year
time frame af this Housing Strabegy. Hawever, the Agency will oontinue to
000peraite witt� and provide assistance and 'noentnres to privafie dev�elopers,
nonp�f'its, and the Housing Auttwrity in order to meet affordable housing
pr�oduc�on goals.
➢ Substantial Rehabilitation. The Redev�eloprr�e�it Law, as amerxled by AB
1290, defnes "substantial ydiabiiitation" as:
"-...�hebilitebbn, the velue of whiid� caa�stihrt+�s 25 pe�e�nf of U�e alier
�eh�ifadian va/ue a/ �he d�vellin8r, indusri�e of the /and ve/ue. "
33413(b) (7) (Aj i�V1
.
➢ As defirtied by riie Redev�elopment Law "subetarttialy r�ehabilihated ciw�elling
units" means:
"On or eRer Januaiy 1, 2UDz substantia0y ie�habiVifated �iw�llirg unit's
means al! un�is substantiaNy mhab�7/tat�d, with ag�arx,y assistanoe.
Pnio�r to January 1, 2002 substantiedy �habAibated dlNelling units si�all
meen multitent�Ty ienial units wifh Unee o�r mae tmits or substanbially
rehablHtat+ed wiEh eg�er►�y assrstaiioe, sir�le-family d�v+elling units with
one or two units.' 33413ib) (7) (A) (6i7
�
Table 2 bciow, details the AQenc�s `Indusiaiary Housing Obligation Stahis" with "
updated total units consbrucbed bo da�e in the Prbjed Ar+eas, and those .., ti� :�. � b be
c�onnstruded from 2004 through the bem� af e�iration af each of fhe Redev�elopment �
Plans.
�
ROSEMO'W SPEVACEK GROUP. INC. PAGE 13
RESOLUTION NO. 496
PAGE 60 OF 74
AFFORDABLE HOUSJNG STRATEGY d� COMPUANCE
PAI..M DESERT REDEVELOPMENT AiGENCY
Tabl� 2 '
` (` Palm D�t R�vMopen�tR A�tcy
1 Inch+sionary Howi Obli�tlon �tatus
- ,. ..; .,rr , : - . . _ ti a � ..._ �; �.. �
• � • .�-•� �. �; . . �� Lt��y�
r,• . ,.fi;: i� `'• • �• ��. �d • RMK/�1
: �?'' r,��`.. • •�r� .
'1•" ' "'t�i1�f i . ..3� . " "
Proj�ct ArM Na 1
� Eu� Nom Mb d �dop1 hqN11,1u+� �0, 19� Priv�6M�l 15% 3,�00 b10 216 324
R�fMpMtM�d A�Mf70l� d4 19 10 9
s� � i�N� iM !2s iis
��e I t� ISubM�INIM�r R�hab/M�d - Ap�nc�I�07i a{ 20 10 1
�! ���t�p� PrNMM1Sl� 1.Of2 1M 66 Y�
i��p�{�, � 1,1N 1/4 7� 10
y E��MWf/R�h�h�b� � A�nC1�1�0'11 12 4 2
� Py�w Co�kucf�pn Ap�no�Jpli ?A 7 4
� ��Cq�p�yp� PtM�M11NL 741 111 14 �
�T�TAL 71f 122 �0 7
T� M WIMrr�� O� RMa411n �o�a TMw 14MW7�fi � d 0
rBr�L G�flII+7Eie T�-"b� Fuw s,M� � s�� su
Proj.ct Ar.. Na 2 �
ewt bom �M. a aroq hou0h .l�n. �o. 1 sw
s,�.tan�.er�•w Pn�rawtsx o u o
Fi.�c.n.r,+awo �w.rns� ' �.,s� t�.� eo.s ,a.�
!1�'TOTAL 1.1q 174 70 1
:� l � I:urM�11�h R�R�d PtMMd/S!� G G Q 0
s l� `� C��� pAqM/f 5!� y1� J6.7 1�.3 21.4
ilJ�f'pTK �i/ 7i.7 14.i 11A
������s��,e,e�w.�, R.n.r�rw,e w�,wnax 3 0 0 0 0
r,Mw�s� o0o aoo.o �20.0 �w.o
urroT�K� �.�oe �a �se ��o
To M��M*roMbO O� 1Mw� �'�'� T�nn RMedt�X 7�1 71f M M
� ^ftifu �M}� r1YsR�M OF �LAN �.� �tf 2f0 �7i
Praj��t ArM Na 7
—"-- eWr ko�, ar. a aao'e rirw,�n ��.�. ao. �w4
Sub�t�IMMyR�f1�fM�d PtNMN1S% 0 0.0 0.0 0_
�� Prhr�t�l16% �0 12.D 4.� 7.�
lUSTOTAL . 0 C 0 !- '
6 l �3��MWif1�MYR�h�b/I�MA PrMM/1SlL Y 1,0 O.S 0.5
s>I �� I�ca+.��aion an�w�sx a4� s�.t st.s w.�
susro�Tu sas s: u �i
�> I�� ��� arti.wna� o 0 0 0
Pnr.w� sx w a u
TAL /i4 �3 li N
To M�ulMlrewldM O�nr Mw�fn� �h�o T� �rMt�NfX 0 0 0
TO�fK 1�fi OVlR T@lM1�fLAN 1.0�7 1�i M N
ProJ�ct ArM No. 4
� Ran d�l� d�dopt tr�uph Jurn 30, 199�1
���yR��� Rlwb/1S% 0 0.0 0.0 0.
M.irc�on.in¢Uon Prwr+.nsx tt• b �s
su�roT�u. :�� s� u "
d � ���y�y R�� Aq�no�t�01i 141 42 21 21
�> I �� µ� �*�{y� PtNMN16% !i7 141 b�
u�rorrru. +,vr� �a n �i
�c I���s,�,�.,,a,�„ Rd,.wK.�,e R+�.�w sx o 0 o a
> rbw ca+.tucilon P�MM.nsx 7� 1 �.4 �.e �.a
��T� l� 71 f l 7
T� MlrIMH+eMMi� ho�iet
TQrAL��O�f'LAN ��� 1.7T! !21' N 13!
r�, i �• �uir ����� �
TOT�,u,� Meo,�cr �ue�►s.suMMA1tY OF UMT'S
sl�'f+O�T�u.*1MoltTottfttA4 i�a1 7a� �w KT
fUSTO?AL-1tTTtMYEARR 7,01f Iti 2�0 t�i
iUSTGTAL �ID TEN YRARf sAp7 Hi 20� 7N
To N�rlllfrewrirN Owr R� �o�et T� hMW1il� 7i7 11i M N
rur� u�w weR�aD� h�u+ �:.as ��wY ��: �.���
t � �naue.. aoj�a+ v.+M+ry ur+dw m,.r„a�on.
ROSENOW SPEVACEK GROUP, INC. PAGE 14
RESOLUTION NO. 496
PAGE 61 OF T4
AFFOROABLE HOUSING STRATEGY & COMPIIANCE
PALAA DESERT REDEVELOPMENi AGENCY
InvNtbory d Exisiirg lJr'�i!'s
The Agency is ob(ga�ed under Se�.�ion 334t3 (b) of the Redev�elopment Law to ensix+e
that 3096 of aN Ageiuy devebped or substantiaUy rohabilihated units within the Pmject
Areas are made avaaable st a�fondable housir�g costs to v�ery law, low and moderabe
inocxr�e persons or househofds°. Addido�ally this sedion of the Redev�elopment Larw
provides that 15% of aN units deMeloped or substan4apy rehabiitabed within the Pmjed
Area mu�t be R►ade avail�ble at affordable housing oosts to very lo�w, law and mocierabe
income persons or housdiolds.
To satisiy 1he Agenc�s produdion neecis, units that are eifher de�v�elo�ed or
substarrtiaNy r�habilitabed must be subjed bo cov�enants. Uni4s aeafied aRer 2001 must
c�nry 45-y�ear affondabiHty oovenants for single family units and 5�ye�r afforciability
cov�enanis ort multlfamiy inita.' Units may be ca�struc�ed ir�side or outsicie the Prnject
Areas, but units provided outside a p�jec:t area oount on a 2-fo� 1 basis. The Agency
may also purchaise 55-year afiortiability oov�enarrts on multitamily u�ffs.
�
Table 3 below , �:., : �:. an inventory of the axi.ating deed-restricted units that meet
these ►equiremerrts. In total, the Agenc�s affordable housing program has yieided
1,458 afiordabb units, af which the Agency's indusionary unit need can be aedib�ed
witly 1,349 , �� ;!� .J:.1 units.� The 1,349 affordable restricbed unRs are allocaied as
fdlvws; 594 are restric�ed for very bw inoome peraons or ha�seholds, 538 are
:st �.�C: J fvr bw inoorne and 217 for moderafie inoome. (These figures exd�ade
marragers units that are induded as a part af mul4family housin9 Proleds, as w�ell as
uniCs pro}ec�ed to be produoed as the Agency oorrtinues implementing its affoRlable
housing prog►am.) �— �
° Sectlon 50052.5 d Health and Satdy Code de�inas afiardable housing coat ss:
- Venr Law - Not maro than 30% of 5096 d the County median housetwld inoa�me.
- L,�v - Not more than 30°� af 70% (or 6096 for r+eMal projects) of the Co�x�ty medan houaei�old
irx�ome.
-�� - Not more than 359b d 110°� (or 3096 d 120°� for rental projects) d the County
me�an ha�tef�dd inoane.
' 45 ysars for aime�ahip units or 55 yeers for rental units. Prior to January 1, 2002, af�a+clabilih►
cavenants could be as little as the duration of the �edevdapment plan to count for mceting a
r+edevebprrter�t aQer�cys aiiadaWe housing �oductiot� reQuiremsnts.
° Pu�x�nt to Sec�ion 33413 (b) (i) af the Redevelopnent Law, the ABe+xY maY Pro+ride tw�o
indu�ionary units outside the Project Areas for each required restrided af%rdable unit
�
ROSENOW SPEVACEK GROUP, INC. PAGE 15
RESOLUTION NO. 496
PAGE 62 OF 74
AFFORDABLE HOUSING STRATEGY b COMPLIANCE
PALM DESERT REDEVELOPMENT AGENCY
T� s
�. r �� oEseer �oevEtronMetr �o�cr a �� cEs�r r�ou��a �urnaarr :
� usr oF n�a�r f+oua�ac uNrts
�.r ' rM�
M w /d{I�I /��Mls� .Tw.+c� r�.
�r
� ..y� . . , . _ . !'w!*!1�+*i4 � u�r� ' � �� � . T«�...� oew w1�..
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SR M~M/�f�Mlr�Yl AM� 7= w�a�iM� �f !{I = p K 11 1i 1i tf � • i� ri
21 rMs
NC 1�/ H*lfi�Yq YM� iY�M 1M 1 w1 1� 1� 1� 0 • 0 • �i ?�
!jC 1� /1r� �FD 47/ 3 Nt, p/ 4/R M � 0 17 47 47 47 M N
IIC 2� Wl IbMY taiR Mwi� 7N 1 MI 2� /7 /f 17 1! • • !� �
�y 1� � �► M M 47 �q t7/ 11r
f .Y.TODI! _ • 6 .. !'.' . � ' .' ► �.' ' �� M/ : Nf IQ f . /('. :.'it t 7�N- 'fY/ 1 ' N�f�'
KK
�G IGA MMrW w� �� Y�in �Mti uis M�rh w� wrw� d dM��liY owMa�s 'A' wiobr ww w�/ tir hM�Y•
NG�114 dMM � IMMI CMN'YO�M _ ' �
RaM�Mwr. c.rnuM rM+.N.. a c.nwr� a�w�owun�
1A140U M�YM Mnr �fwrr �w�nhl� aMINr�� - -
il4li� airW �rorM Yw M�YAM�� d�r�Y� MMa WM M Ynw�Mn d alrY/Ir awuiMt
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�1
As pneviousfy descxibed, Sedion 33413(b) of tt�e Redevelopment Law requires that not
less than 30°to a� any Agency�ev�e�oped units ('30Yo Units'� ar 15% of prnrately
dev�eloped unils ("15% Units� produoed during tl�e next frve and ten y�ear period (the
~Ptarx�ing Pe�fod`� be affonlable to low and moderate income households. The
Redevelopment Law also requires that 50% of the 30% Units and 40°/a of the 15°�
Units be speafically limited and affordable to v�ery fow inoome households. These
ROSENOW SPEVACEK GROUP, INC. PAGE 16 �
RESOLUTION NO. 496
PAGE 63 OF T4
AFFORDABLF HOUSING STRATEGY 8 COMPLIANCE
PALAA DESERT REDEVELOPMENT AGENCY
affordable housing produdion requirements should be met during this planning period, --'
which ends on June 30, 2014.
Based upon the forecast of houshg oonstn�dion presented ea�lier and fhe Agenc�s
inventory of affordable housir�g projecls oompleted to dabe, Table 4 preserris the
oomputation of the Ager�c�s alfadable housing production requir�emerrt for the
planninq period, as well as the entlre duration o# ead'i af the Redev�ebprnent Plans.
�,..,
� TASLE 4
' ^� .a- X "' '; • ) +.��}�� �y, .
.V .�' �� �.� � �� � � ~ � � (1 � -•Jit '� Yya.s ! ti�' � � � w ' �
:-�•� ` � �� _ �.
.�., K� � � � � � �
�� � � J � � � � J a J
fi� � � J £ �
..; .
� �'i` �"S�� . . . . r..� �i7i)i
TME FRAME � ` •�� � ��.�y.:liila ^ . ..�
T1wp�Dh �-�4�4 4�M�1 ��Y �Pb �� � d4 d4 10 10 10 '-.,"� �
Thra� �7aW ('WMI) Rtv� DwMap�d 1! �`077 4�77 747 4N 2M �+.
7!r � t� 4.on ei a.ai� Tee � aa ���' •• ,
�. ww►NwWri. i�c�r.+o..ry ueN. �.a.od .e+ a.ata� »>.o �.s ns.a
1st 1�-YMr Ii�w� hrMr (1N/M - tM110t) I 6�/.0 a2D.0� 51�.0
Pn WA6 d�/dt wMls �Muo�hd fof 1f� 101Ks (60% d PM�d�d l�ksj 3p 220� 18� I
A�iq D�wloO�d - 0 200 100 63 �1 31 I
� o.w�.a = �a 2 � �to �u �u te�
TWiY t�t 1� rr. rIMr�Yp hrMd �,� � i� ll� �,�H �N �7i aM 1�iN ��.s h�� N1 aai'ai
:'+h � �`.;r�?�`�1.v .{`.'�� ' ! � .
:�w �i -r.r�t� rw� po�i�s.ui�n4) .rry -
'�s_sr�1►�:nllrwa�nw unsuM.r�wy- ��e ii! ff
�. a� 6.i�ii �.r6.aeo:�w ior 2na � o xscso�c a n.w.e u,i�.� � 9i t�• n
�r+ u�.
�.,wr ow�ov.a - 2� fs ae �� a a �
Aw.�.�ro.wbo.d :�s�t o z�pz u� �eo �u �
si�roT�i._ �,su �: �,s� a� �o� :n w�sl aw.�l �.iJ u.� s.�
'a�osR�ues.twrtsaans carry�r..t�w- ta� (�t.ql s.�
�. �i�s a.idi �.ris .iwon.a � x�e � o�so+c or K..d.e u�ris) to� � � a �� •
rnyKw t�M�
�rw�r o.vMop.d - o 0 0 0 0 0
PtfwMly DwiMa�p�d 470 0 479 11.9 �,1 20
tUSTOSAL �7f � qf iN /M 10� I1M1 Hf/1 fM)
Tir12M 1� -�w Mr�nYy hrial U0�41�iN�H41 7,iN 1! 7,M7 N! �it 7H
F►on� 2M 1/ rMr EM lo �ab of IM�n� !a • id t u N� � +
pr►�oe of ItNwMo�w�nt rMns L 1.M! 1A21 ' 7�2
IIoMa:
v�. wri r. a.rw a.r ww �.�n +wA.n a w. a� n.1•c* � rr.� ��. h O�R Msk f/fiMM/ ur�'�M►1M4 M M�M�wM Mr a 70 �r �MZ
v ar.ra,1 �.r.r.4M,.r n.,s a... +.Nars: o�rw rrqw �.��. nraw r.h.r imt a►q.oi no.: -�ma w�.a w a-�aox ar rrq.o� ru saox. - -
ra�t Incl�Nionary, C�nwd Flw b Tin Y�ar �iorrry tlnit I�N�d
The Agency has activ�ely woriced t� produoe the requined number of indusior�ary units
ov�er the last tien y�ears, producing ov�er 1,458 affadable units (with an ndusionary
credit of 1,349 units).' As detailed in Table 4, the Agerx.y has mae than m�t lheir
indusionary housing needs for tt�e prbr 10 year period (1994J95 th►ough 2003104).
The A�ency has produoed a surpkls d 481 affordable units that Ihey will appy bo this
P��m9 P��'S P�'ol�ed af'�orclable unit need. Addiiti�onalfy, the Aflency has etitered
irrto a�qreements or undertaken conshuction of 134 units of afFoRlable housing that will
° Pu►s��ant to Secc�on 33413 (b) (ii) d the Redevelopment Law, the Agerxy may provide Mro
indusionary units a�tside the Praject Areas for each requined restricted affadable urvt.
�
ROSENOW SPEVACEK GROUP, INC. PAGE 17
RESOLUTION NO. 496 PAGE 64 OF 74
AFFORDABLE HOUSING STRATEGY b COMPUANCE
PALAA DESERT REDEVELOPMENT AGENCY
substantially meet their 5-Yea� unit need. As shown on Table 4, the A�ency win
Iconfint�e its efforts b� fadlifabe the consUuction o� restriction of fhe rernanin8 284 units
that wfll be requu�ed to me�e�t the ten year planning period's afiordable housing unit
obligation.
The Rede�lopmant Law requires that whenever houeirg ocaQied by bw and
moderabe inoome persona or househoids are deslroyed as part of an AQencY P��.
the Agency is responsb{e for ensurin8lt�at an equivalent number ai �plaoemer�t units
a�+e constructed or substantiaily retrebilitaled. These units must pro�ide at least the
same nurr�er of bedrooms destroyed, and 100% of the �plaoernent units10 must be
ai�ortiable to tl�e same inooma c�te8ories (i.e. v�ery low, low, and moderate) as those
remov�ed. The AAency reoaiv�es a full credit for replaoemarrt units aeabed inside or
outside the Project Ar+ess.
Sinoe the adoption af the Is9t Implernentation Plan, the Agenq has pravicied f�xiding
for a neaessary infiastrudure prvjed that resufbed in the destrudion af ha�sing
occ.��pied by bw and moderabe inoome persons or households
_�
REPLACEMENT HOU3ING OdUOA110Ns T�e� a
� �: "` ,�.''�1l� K�M� �.
. _1•:'�� . ..�>;:�•;�,�; > 1'� •'3:�
ToW No. d
Mo. d UnMs 1l��ovwf No. Tafal No. ol VL� l� M V�ry Low Low rodww
Proj�ct YMr ot UnNs OeeupM� Yy Vl, l Inea� M�eow� In�o��
or M MeoM� Md�oo�n� I� UnNs llnfr U�IIt
��� °�F� W� 2000 41/SS f1 ]5 11 1S 9
Orlv�
'�• •�.i�^•`- -�. .-1�,'Li'!��-i�ilK�l�.�7�W����'�""�dr!`����Y31
�a�' '— -
162 unk poj�at-32
FIwMy C�rWns 74501 alloe�tM b
42�d AvN npl�owrw�t J2 Un�s ({-2EU. 21-JBD. S-
���� IOD) 91 14 11 21 0
�so unn ao�.a s�
Las Swsn�s7 7�31 b pb �d �
Coun4p Club Dr.f1 ���
ob1➢dbn
R�p�e�n�K Hou�inp IN�d MK
s unw n eo� a a o 0
M f4 7i 17 21 .
Table 5 abov�e, details the very bw, bw and moderate inoome units destroy�ed by the
widening of F►ed Waring Driv�e in 2000 and the units produoed by the Agerx.y to meet
its replaoement housing obligation.
The Agency does not anticipate demolishing or removing any additiona! aifordable
dwelling units during this fiv�e and ten year planning period.
10 Prior to January 1, 2002, 7596 af all repiac.errtierK units must be of the same inoome categwy
or a la�w� income category as those per�aons or households displaced.
ROSENOW SPEVACEKGROUP, INC. PAGE 18
RESOLUTtON NO. 496
PAGE 65 OF T4
AFFORDABIE HOUSING STRATEGY � COMPUANCE
PALM DESERT REDEVELOPMENT AGENCY
�
�
Housi�p �t Asid� Tax itc�nNnt FWnds
The Agenc�s primary souroe of f�ndirp for h�ousing � �; : J� and programs is the
amual depo,git of 20% of its tax i �, �: �: nev�xie inb a apecial housir�g �et-eside
fund ("Housing Fund'�. The Redevelopment Law requi�s that �iese funcis be used to
incrsase, improve, and pre�erve the oommunitys supply af housing available, at
at�ordable haairg oost, to persons and famil'ies of very bw, bw, and moderate
inoomes. Ott�er souroes a( Hot�sing Fund r+e�erwes indude inierest eamings, bond
proaeeds, land sale prooeeds, loan repayrr►er�ts, and developer loan pr+ooeeds.
Table 6 belaw, prese�its staRs fonecast af Haising Fund r�ev�enues and e�enditures f�
the first fMe yea�s vf this planning period. The foreca.st accounfis for operational and
projeat expendibures ba.sed on the curnent budge�t and are subjed to change.
.�-
�
ROSENOW SPEVACEK GROUP, INC. PAGE 19
RESOLUTION NO. 496
� F14E YEAR I�f.�EMTA1101i r4►M�#KxA�Mf� ti� � � � a1l�i:
MLM OEtlRT �LQrN�MT AAEIKY
�..
�. /�
M�InM�� A�aiMM� Fund MYnc�
RN�IMIM
. , Tax M1awiMnt R�ww� 1/
IntrNt Ertiqs
FlarYp A�11/��on
SaeW Piocy�da
dw Iraafm - lo�n P�talft
OMrr Inoom� - 1at TnW DMdt
S�bbl�l
ToW IM��uR�s
EsMMIW�s
Band D�t Saaw PMnMfb Q
/�ii�Yaar. co.e� �l
se xa� +.. v
w.w ew,a o.� s.�o.
S►MoW _
r.q�e� a r►op.w. oe.r
RMihl Aralahrw AuP� (�1
A�aflon li�h�6�ion �rW /1�w
Abipq� AMiY�� P�opan� ICP1
SMI'H�p MouriO
FbnM Airy�rAaf�riw AoP� (�/
A�l�Frngr A�IrOM�lbnl�� �M�A
FIonN Inpio�rwk Pr�anr Gbnp 1 b t
ADpay/bqn'abloeFSn�b/Hou�fnp llbw GbrNlkaron
o...K Ao.. a�,r �o �+.Mwrn.nad.errir �,a aro r�,,.....�
AOnbM PiN�t AA70b FbnM Pa1k
AMw AIu�1��rrMY �'4��'�
Oq RirnG 10 Aorei + IqNSNr Pr�
Peoj�cts &IM�d han Ha�T��hb Bond I�:
Pdm VMMip� Apb AreNlih�e i 9�bidy
MuMfIrNYAcWliA�G fC.aun�'y f�M EaYl�f. L�QuN P+i�M)
Fuluti P�oj�d�.
AMw Con�iucMon br S�M /AMw�a d/ � acw�l
Mrw AMMr�.ewr cbnrucyron
AMw Cor�ehucYfon SuD�idrs
�
�OO+iO�i
u.u�.�
i i.e�e,i�o
29�.L1�
1e0.000
�.000
12.107,l9�
2a.91o.�04
�.29�.]]0
uy,��a
t�e.su
♦.47e,242
50.000
2d0.000
�00.000
790�000
50.000
2,500
2,T00,000
3.000.000
f,000,000
PAGE 66 OF 74
AFFORDABLE HOUSING STRATEGY � COMPLU�WCE
PALM DESERT REDEVELOPMENT AGENCY
• Ikli�INO �71ptIIQf' 1�}Iop1�AM
2 � 1 i T�tal
20�L�i 2�Ot,f017 !M7-�Ot l�N�OM
e.�o.sa s,e�.ot� s.�os.�e ,4.+es,so�
12,007.Wi
tID,WO
1E0,000
I{.000
�.f00A�
21.i4�.tq
2�.�0l.70i
4.�D1.�1�
t.a�,�»
�si.aer
4.4M,1/0
2�O�D00
210�00�
30.000
'�JDAO�
�00.000
25.000
�00.000
{5.000
2,SOD
12,�p0.p0
t�,Jt�
1�0.000
2��D00
�000.000
��,ra,�u
2J,�i1,171
4.JOO.Jq
�.o�a,aoo
»ttso
4,M2,Si]
i2i.m0
n�.aoo
101.000
MC.000
�40D0
�00.000
4.000.000
•o.000
2500
12,��07
1?2,2�1
1�.000
�D,OOD
1��.47t
21,�.�1�
� �A4,�3�
+a�.u4
�oo.�a
4,106,101
T96,70�
:ao.�ao
1SS.010
]OOA�D
?3,000
]00.000
�,000
4.600
1�,�,1�7
2TJ,1�7
150.000
3I.000
�.sn.a�
d�9.�20
7�G,000
140,000
14.500.000
7i.8�2.500
�.000
1.700.000
iS.000A00
S�M�I 16.702.�00 1 �.41 �,500
ToW Ez�nWYur 20.17f.7�12 22.OW,qO
E�dY�� AraMaM� Fund Mlanc� t,7lO.Sd2 S.E�.02a
1/ F�r T� In��rM R�wnw �wM � 7K rr atiw�
b /a�M M�e Cll�r
L A�rii GMs /�wh �l �. �wMriwM wNra f� �t 7 S%
V RynwM� M f� 2S671N IW � FwM M d�r}� rtt �rYAI rl�w � wY G�ny C1r�.
Ta�gNite d Hou�i�p F�nd �tdbtn�s
1 J.NJ.1�3
2t.ON.9Qi
4.2M.SSS
�.m.ea�
�,�x
1.l�.7?7
1.Q11.N�
ss,»o
106.0�0
700.000
�00.000
2.000.000
»o.aoo
2.500
1.300 7,500 7.300
�00.000 . .
4�OOO.G00 -
• 1.000.000 1�.D00.000
24.000 32.000 40.000
10.lM6.�0 2,9�1,224 17.E23,�
15�067.7]� 7.N6.J43 Z7.J�2.Wb
/,IQ7,47i 14.1t�.6�t � �r�.M1 �
21 Af6,f2�
s,ata,s�s
�.u�
u.��a
2,142.5?2
�,�s�,e�o
510,100
900.000
1.300.000
50�000
1.S90p00
�.0�0.000
sao.000
12,500
2.700.000
L,S00
5,200,000
2f.000.000
11.lf�.000
06.000
�6.601.Z32
t7.9S0,St�
As set forth by Se�tion 33334.4 of the Redev�elopment Law, each a8ency shall e�erxl,
over tha duration d the oorriplianoe pFan, the moneys in the Housng Fund in proportion
to the community r�eed, bofh in terms of the inoorne cabe8ories and the number aF
senior households assisbed.
incarw C�abpori�s As�iswd
According to the City's 2004 Housirig Element, the cument RHNA figur+es for the City
cover the time period of 1998 through 2005. Table 7, taken fom� the Housing Element,
ROSENOW SPEVACEK GROUP, INC. PA�GE 20
RESOLUTION NO. 496
PAGE 6T OF T4
AFFORDABLE HOUSING STRATEGY b OOMPLIANCE
PALM DESERT REDEVELOPMENT AiGENCY
shows the C'�tywide need for 215 high income units, 85 moderaDe inoome units, 67 bw
income units, and 77 very low inoome units.
TMLE 7
�MR
Fyf�MM � � 0�' .Mr4W�M
• .s : �,. �C�AG}
. � -
Inooms CateQav Unib
Very Law Inoome 77
Low Incone 67
Moderate tncome 65
Hi�h k�oortie 214
Tota! Ur�itt 443
Pursuant to 9ec�ion 33334.4(a) of the Redevelopment Law, Housing Fund
e�erxiiEures over the period of the Implementation Plan must be e�ended for very bw
and lo�w incorr�e persons at a minimum in the same proportior� to the Cit�s fai� sl�ane of
the Regional Housing Need Assessmerrt (RHNA) unit need for very low, low and
moderabe incorr�e units. Ba.sed on 1he fgures detailed in Tab1e 8 bebw, the Agenc�s
Housng Fund e�erxiibures must be allocabed so that at a minimum 29.3°� of the tunds
are eo�end to assist lav incame persons and at a minimum of 33.6°/a ara e�xled on
very lo�w inca�ne persons .
raw. a
: :�. .,. ,..r�. `- .,..,,;.......;
,� -,� �i =�. : .,.. . � .
�,l�.iCw''�'4+: r`� ."�=ti.t' �4�_xy'•:.4y�
�'k:
.'.�. 4
, a :', , .
� . . f . . •'��' .. . . .�
Income Units Minimum
Ce� % Allocation
Very Low
Low
Moderate
Total
Farrdly and 8�dor Housi��
77 33.6%
67 29.3Y.
f IV
gs minimum
229., , ., _ ,_
Pursuant to Sedion 33334.4(b) o�f the Reclevetoprr�t Law, Housing Fund
e�er�ditures for senior housing over the period of the Implementatior� Plan must be
e�e�►ded in proportion to the oommunitys population a( that age, a000�+ding b� t�►e
most reaent Census. Acoording to the 2000 Census, 11,410 (27.4%) af the Cit�s
41,284 residents were 65 years of age or more. As such, not more than 27.4% o�i the
Agency available housing fund revenues may be e�erided on senior housing pr�ojec�s
during this Pfanning Period.
�
a
1
�JI
_,
ROSENOW SPEVACEK GROUP, INC. PAGE 21
RESOLUTION NO. 496
PAGE 68 OF 74
AFFORDABLE HOUSING STRATEGY & COMPUANCE
PALM DESERT REDEVELOPMENT AGENCY
. �
TABLE !
CU�f <!t P�t D�i�t- .� .
_ l�avv(�1�s�ttr i�httt �ot #��i�wn�
: _ ' . � r ."� �� _`
�e Number of Persons %
Under 85 29,874 72.496
65 or Over 11,410 27.696
Total Units 41,284 100.0%
Saxos•2000 US C�nsi�s data
TABLE 10
Beginning Cash Balance i14,831,906
Projected Tax Increment Set-Aside Rev. 136,172,020
Other Revenue Inoome to Housing Fund 2.669,561
' """ Subtotal s153,673,487
Tatal Debt ServiceJAdmin b Operations �49�221�023)
Net Revenue Availsble ior Projects � Pro�sms s104,452,464
�:1 r r ' •I�•-�i' i� S ti �?'�•`, . t a.3�t..k ���''. .c ti'.'F�yf{'� � .� • a��' �r.
`��i��i#�' ���li���� � � '"�' � � � .%.
RHNA 76 Incame GroupJ Minimum Expenditur�s Projsct Amount
33.82°16 Very Low 535,121,571
29.2696 Law 30,560,328
37.1296 U�restricted (very lo�w, low b moder�te) 38,770,565
100.00% =104,452,464
' . .' � 8�nk�,.�ft�r►:N�i�iEft�;A,lf�l��,y:'�5: t�}: :.;•'
�: .
Senior Population 96 (Limitation) 27.6% 528,828,880
F.�� ., � Hou�irp Fts�d E�q�ne�lu+�s
Tabie 10 preser� a summary of the Agenc�s proportbnal housing e�xlih�res based
on planned projeds desr,ribed in the next sectbn af this Housing SVategy, and the
thr�eshalds set torth above.
ROSENOW SPEVACEK GROUP, INC.
PAGE 22
RESOLUTION NO. 496
PAGE 69 OF 74
AFFORDABLE HOUSING STRATEGY & OOMPUANCE
PALM DESERT REDEVELOPMENT AiGENCY
P�obrrtW AAio�d■hM tlnits by YMr
Table 11 p�se��slheAeer�s esfirrtiaae af aAadable i�ot�g �.r�ls fhatwi be produoed a piouided
dtrrg he neoQ 5 y�earperiod.
�!€i.'71��l�••rf.y.'� _� 1����7��C1
P�iarn � P►ol�e!
P�Im Viliap� Ap�tn��nls
Al1�a�!'�h I/n/ts Aroduod b�► Y�r
2004-06 200�06 2006-07 2007-0a 200b-00
VL UI�A VL U�A VL UAA VL LJ�A VL UMI
1i 1i
1i Aeh Housiny Drv�bpn��ntl iinpM Fae+ly
3�H-FiMP Housinp Proqn�n
i�nlorHou�lnp Wntal rrnJ�ct,
�nlor FbuNrg Wnhl Proj�et
Sar+�s R�is ProJ�d D�nsky Bonus
TOTAL PR03RAM
K
14
u �s
� I s� a �
I I I OI �2I I I
I I I I I � I I
+si ui ui s�i �si �s s� a oi o
TOTAL %1FFOinABLE UNfTs
�IK �NI�'� s01�C�i � �M� �0�1'{S
Total
VL UM
1i 1•
0 9�t
14 0
13I 13
a� s
o� u
I
aol 1i2
212
All poben6al souroes d fix�d'ng wiil be activ�ely pu�ied by the Agency in its efrorts to
implement the CitWs Housina Element and Housinp Strabaqy. Key to this ef%rt
continues b be the establishment of nelationships betweeri public entities (eapeciaRY
the City) and the private sec�.
Despibe the fad that the Agency's housin8 Pr'o9ram has produoed a surplus of housing
unRs abov�e the Recfevelopment Lav�s requirernents for the last 10-Year Plaminp
Period the Asency will continua to imple►rtient its F�ousin9 Pr'o9�am in fhe City to p�ovide
addi�onal af'fordab{e housing units to meet the cument Plaming Period's indusionary
unit need. The cument prvjec�s and programs proposed by the A�x,y indude the
following.
a
�
ROSEJdO�HV SPEVACEK GROUP, INC.
PAGE 23
RESOLUTION NO. 496
PAGE 70 OF 74
AFFORDABLE HOUSING STRATEGY & COMPLIANCE
PALM DESERT REDEVELOPMENT AGENCY
�- Plsir��l P�bd i�lousin0 hoj�c'ts and Pno�ran�s
1
The Aeenc.y w� oontinue im,�: . �: �o ; �. of affo�dade housing pr�oje�ts thrtxqhout the
Pr�ojec,t EV�eas and CRywicle ov�er ttte balanoe af �e 10�ear pfar�rwng period. In fhak, the
Ager�s neoer�t haei� pr�dx�on sati�ies have ��ed in a substanbial nurriber of
� alfar�able ha�ein9 units beir�p ceaaed, raserved or P�oduoed. Qux�9 the amerk Pla�ri�9
p9f10C�� ifl@ /�9r1�.�/ Ml� �„ �: ZP'd� �S �iOli'S Il ,y :,. ��,f� d�tbOfk'i� UI1�S � �T1B9t I�S
i�or�arY nequi�eme�ds at�d HaisnB Eie�ner�t 8oels CitYwide. Fu�une ' �. � � �� �.
activities wil faM inb the �o�o�wir�g �.,, ; �. y � e.�
♦ Pakn Y�Sge Ap�artrr�ents: 73810-688 Sar�ta Rosa Vllay- Reoonstruc.fiorilSub�r�tial
Rehabl�ti�on cf 12 tnits and oo�struction af an add�onail 24 tnils of wli�ch all are b�
be 3 L � J � � � ��. A� Un�s wMl be :�I. '�t: J and aRo�dabie br a period of not less
than 56 y�eers� It ia ar�tic�bed That 18 ur�ils w�ll be �ved 1or v�y law ha�seholds
and 18 u� wi be reaerved ior low inoome hameliolds
♦ Self Help Houa�np-IIAei1e Straet - The Agenq will oontinue its self-help housing
program, producing 14 3 bedr�oom owr�arsh�i dweNings, all reserv�d for v�ery
bw inoorne housef�olds. The horr�es wil be conrered by a 45 year af�adahikty
cav�enarrt. .
♦ Constnictio� of 95 large famiy single famiy homes on an 18 acne sibe. The 3
and 4 bedroan homes wiill be ►+ese�v�ed for lav snd moderabe inoome
househofds. The homea wiq be covened by a 45 year af%ndability covenarrt.
�,,�- • Senior Cit¢en Housirg - The Agency will puraue the development af 26 new
senior housing units witt�in tt�e communihr. This projed is taryebed to reserve
13 a(foRlable units for the very low income and 13 units for fhe lo�-incorne •
senior. Afl Units wi{I be r�estrid:ed and affordabfe for a period af not less than 55
years.
• Single Family Rehabilitation - The Agerx.y will oontinue its su��l single-
famiy rehabi�tatio� program. tt is estimabed fhat 30 units of affordable housing
will be prnduoed.
• Multifamiy Rehabilitation - The Agency wiN pu�chase and rehabilihate suitable
rental properties, thereby p�viding aftbrdable unRs. 30% af the total number of
units are bo be for bw and v�ery bw inoome persons ofi which not less than 50°�
of tliese units will be very law inoome aiffordable housing units.
• Provide Dev�eloper Incentive - The Agency wiil pr�ovide finanael assistanoe
were necessary and approp�iabe to secx�re resbicbed oovenants an privabey
dev�elopment new single family and mu�i-famiiy housing units.
Programs iden�ed 'n the City's Housing Ele�nent that ar�a an�apabed for
implernentation during 1fie next ben year period that are currently under devebprnerd by
Agency staff are:
ROSENOW SPEVACEK GROUP. INC. PAGE 24
RESOLUTION NO. 496
PAGE T1 OF 74
AFFORDABLE HOUSING STRATEGY b COMPLIANC',E
PALM DESERT REDEVELOPMENT A�GENCY
♦ Mortgage Subsidy Program - Very Iow, bw and 'mode�rat�e inoome owners of '`
single�amiy homes, condominiums and mobile homes may reoeive ass�stance
if iheir mortga8e payment exoeeds 30°� of their inoome. Assistance will be -
provicied dinac�fy by the Redev�eloprnent Aflency. In exchange fnr the
assistanoe� the home awner will be �+equired to enter irrto a reoor�ded agreement
witfi the Apency aasuring af%rdability of the home for45 years.
♦ Rer�l Subaidy Program - Owrtiers d s�ingle�amify homas, condominiums,
mobile homes or aip�rtrnents who rent b� very low, bw, and moderabe inoome
benai�ts may �ive direct �+en�l pa�m�ent assistanoe from the AQenc.y. The
awr� must, in exchange for the asaistanoe, enb� into a reoorded =,tl .. �. 2
with the Agency assuring afbrdabilit�► of the �ental unib for 55 y�e+ars.
• Homeb�ryers Program - The Agenc.y wili provide assistainoe to very low, low,
and moderate incorr�e persons in the fortn af law inberest loans b� be applied to
do�wn Pa�ment. non-rec:urtin9 dosin9 �osts, reciudion of the 's►terest rabe on the
first trust deed, or ar�y ofher oost as�ociated with the pur+chase af a home.
Sec�ion 33490 (a)(C)(iv) requirsa a�enc�es �o �port the amotrrts af Housing Fund
dollars uW¢ed tu assist aRordabb unita over the pr�vious Implerr�er�tatio� Plan Petiod
(prior 5 year pe�iod). The ABency's Housir� sta�f has identified Housing Fund do�ars
e�ended on aflfordable housing projects since 1999. The follawing Table 12 details
the Housin� Funds spent during this period. -'',_
�
ROSENOW SPEVACEK GROUP, INC. PAGE 25
RESOLUTION NO. 496
On� QuaM ProN12-000 Fnd W�htp D�fvs �,18�,210
PwWa! 73N6 Sanl� RoM W�r 17,6�7 2Ee,SQT
N��bor�f 73-SSS BarM� RoM Ws�r - 520.�50
C�lirr Cirdf►s'I 73-000 C�lirf� Way 17,667 9�i4,i Q2
La S�nt�•17131 S Cwnfry Club DrJ1 2,317.900
AFFORDABLE HOUSING STRATEGY & COMPUANCE
PALM DESERT REDEVELOPMENT AGENCY
r
- - '�—
TABLE 12 •
Hanln� Fund Exp�ndltuns b�r R�sld�ntlal Pro��ct 1�IZ000 throu�h �00�4
. . , .�_ . . .� . , ..� _ ,;. . . .
. , , . _ . . , . • .
- ., � . �� • i�ti •��.. ,. , ,.y',r �;i,�t,•.; .r ' •; �}v
:i . •• . • .� ; �. .s.�.. � '•�. � ; :;� � -, -�������7�
. . • .. ...�r.•.:.. � .
I1cMu1 ��dNurN Q�ht Su1Ylo� /u�NNPraf E�q
CV S�f Hy� HousYpN�rbu� Loc�on .
Owrt P1oin1M43�a05 MorMrq Av�
San Trapa Apb 7S3T3 Courkry CMb Dr.
Sfwdow Hlls EdMn 4'SDMp C�ryon
SFMdow Hlla Estabs 745a2 DMp Gnyon
irb�old �
Santa RaN AprfrwMa
Tws Pina 44�,�On Laa Prrtr� Av�
Portola Pins Mobi� F1an� Pk u-1 b5 Parlda Av�
Owrt RoN SF Horrw
Suil�rn HafaaM SF Hartw 7537/ i ��E Royal Prms
Hab�t Fa► HunMnfew
R�Wca� Ro�d 42-E02 i42-710
c�uror�r. vN.. n-�o� c�rom. �r.
�.p�r,a r,+m. �seas s■,e. Ro.a w.r
HovNy Grrd�ns 74-5�1 4�d Avd1
C�ndl�wood Shrda+ �Aanfrn
vn.. on a» or.w, n-12o ca�r. nr'rv.
Canhrt� Pt�w 1
PadffelWisMd LMnp 73�6e5 Caldin� W�/
�4W7 Ss► 6A�rfno Ck
R� Run Orn 44-SSS San Rapf+ad Aw
�.��a
1.04d.947
iir374 11„QI�,7�1 1.1ri
= 7�17Q
�o,e2�
7�6�025
425,170
251,171
2,E6�.370
" 7.634,701
�d4
16a,10.1
1� lifri7l
se�.eas z.aae
�
PAGE T2 OF 74
. •�
Tof�l by Ptq�d
0,4�D,219
264.254
520,�36
�31,7M
zan,�oo
1.173
1.W6.9e7
14,H2,21�
T2.17o �
z�o,em
7JE,OQS
4?5.170
231,171
seo,w�
2.seo,�
7.634,701
064
1eE,1o0
PaYn Vip� /1p�rtr�ds 73810 - 6�6 S�Ra Feosa
YIfy/5ubsfanYN RMrb 12 �srsaddiron d 2t uni4 ��pSp,�p 177,001 1,2Z7,6o1
S�lf li� Harinp Mrl� Sb�t -
16 Acr� SFD 2.151.�1� - 2,151,�13 -
2a UNt R�ntal Sriior Hw�►q -
TransllorNl Housinp 10,000
iYblaW 3,20�.Mi - 177.001 �,77i,fM
,i._. .. , �,. . . ,. .. -• . • c.t� � '. ' , . . " .. ' . • .j ' �.� �.e:Y. . _. . .
Adit�iritrMM Cast� � 7,733,3�4 7.7x1,b31
Prof�a�lorMl S�vk�.r 1,113,407 1,115,4�7
HIP Propram 240,362 210.SS2
s��eow �.m.� - �,»w� ��1�1,oay�t,m!�
7�%u .' b• . . � • � • � : �� ,` . i��.� .. ' . -a• i� .. ., ,R+q� } r�!
-•r
'In�aa4s S�nior Prcwct
"T his r a NaM R�ci�l� pv�{d�d ut�t � Dwiiopmnt Apn�nrR and pyrtrMa w ony dw wfNn ttwr is Paa1M N�t C�sR Flow ham tt� prap�ry
wNh a E�Ioon p�rtwR for al �nax�b dw in J� yr►s
ROSENOW 5PEVACEKGROUP, INC PAGE a6 '
RESOLUTION NO. 496
PAGE 73 OF 74
AFFORDABLE HOUSING STRATEGY � COMPLIANCE
PALM DESERT REDEVELOPMENT AGENCY
On May 15, 1991, the Riverside Courrty Superior Court enbened a final judgment
inoorporating a Stipulation for Entry af JuciAment among the Agency, the Western
- Cenber on Law and Pov�rty, Inc. and Caldomia Rural Legal Assistanoe in cax�ectia�
with �tigation fifeci over the adoption of the Redevebpment Ptan for Prnject Area No. 1.
On June 18, 1997 (Amendmerrt No. 1) and again o� Sepbembef 20, 2002,
(Arr�erximer�t No. 2) the Court enbered amendments to its 1991 judgment, incaporating
Stipulatior�s Amending Stipulation for EMry af Judgment Under the te�rtns af the
Sti�upulation, as amerxled, 1t�e Agency has generally agreed to use its 20 peroer�t set
aside funds, and other tax incxement �v�enues, if neoessary, t�o dev�elop, �habiFtate, or
ori�erwise financiaty assist a oertain number of af%rdable housing units and tio meet
certain housing needs af the City.
:�G'.�.: R �4.
. �,�L �:����t:
, � i . k!?; •.�'
.i. .1
. �`,G:.�'h.:�.��i��:��+!:fl�'
Inoome Housirx# Produdion Requiroments Total Housin� Requlroments
Level Stipulation P�odudion Futl�re Construction Nesd Stipulation ar�d Futun
Reqwred by 2008 Basod on RHNA ��� N�
Need Provided Defiaeney Need Provid�d Defiaency Need Provideci Delfaency
Very Low 578 505 73 77 58 21 655 561 94
Lo�w 505 453 52 67 71 � 572 524 48
Moderate 122 1S4 -72 85 0 85 20T 194 13
Total 1,205 1,152 53 229 127 102 � 1,434 1,279 155
Table 13 above defiails tfie Agency's progress to dabe in meeting fhe unit nequir�emerrts
af the Stiputation. Agency adivities as oudined in this Strategy are designed to meet
the dual �equirements of the Redev�elopment L.avWs inclusionary housing produdion
standards and the units required under the Stipuiation.
�
�
ROSENOW SPEVACEK GROUP, INC. PAGE 27
RESOLUTION NO. 496
..
. .-- . . . � ,�.� . . ..-
�
Palm Desert Redev�elopme�ntAAerx.y
PAGE 74 OF 74
Because this Housb�e Strabagy focxlses on prnviding housing for very bw, bw
and moderatie incorr�e househoids who are genereliy the most dif'FcuR segment of
tfie oommunity for wfiom � pro�victe housirp, it is deary consisbarrt witt� the
Housing ElemenYs qoal to provide housir�g for all eoonomic groups within the
Project Area. Botfi this Strabagy and the Hous��g Elernent state there is a definite
need to ssa�xe an adequatie s�sp�y af housing for ihe Ivwer inoome segments af
the community. .
A major fxal poir�t af the 8oals, poUaes, and objectives of the Ho�►sing Eierr�ent is
to provide housing for all eoonomic segments of the Project Areas, especia�ly
lawer inoorne famlies. Bec�use the major floal of this Strate�y is also bo provide
housing for these Ivwer income houeeholds, and ihe proposed ptans and
P�''o9rams for impr+oving the suPPly af affadable housinp in the Pr+ojec� Area
presenbed in ihis Straie�y are aimilar bo plans and polic� of the Housing
Element, fhere is de�riy consistency be�tw�een this Complianoe Plan and the
Housing Ele►r�r�.
!� ._
ROSENOW SPEVACEK GROUP. INC PAGE 28
PALM DESERT REDEVELOPMENT AGENCY
�
AMENDMENT NO. 1 TO TflE
THIRD FIVE-YEAR IMPLEMENTATION PLAN (FY 2004-OS THROUGH 2O08-09)
Adopted on June 8, 2006
IntroducNon
This is an Amendment to the Third Five-Year Implementation P!an (the "Third
Implementation Plan") of the Palm Desert Redevelopment Agency (the "Agency") with respect
to the Agency's four redevelopment project areas (the "Project Areas"). The Third
Implementation was adopted on November 18, 2004, after a public hearing, pursuant to
California Health and Safety Code Section 33490. The Implementation Plan included lists of
certain programs and projects anticipated to be underiaken by the Agency with respect to each
Project Area during fiscal years 2004-OS through 2008-09. This Amendment updates such lists
of programs and projects.
About the Pro�rs�ms and Proiects Geaer�llv
�
Except as expressly stated herein, the programs and projects identified below in this
Amendment represent potential programs and projects that the Agency may undertake through
fiscal year 2008-09, in addition to (and do not replace) those originally listed in the Third
Implementation Plan. These potential programs and projects are consistent with the Agency's
goals and objectives with respect to the Project Areas as stated in the Third Implementation Plan.
The Third lmplementation Plan as originally adopted and this Amendment, together, provide an
expansive list of potential Agency undertakings. During the five-year period covered by the
lfiird Implementation Plan and this Amendment, it is possible that the Agency will undertake
some but not all of the listed projects. All costs and time frames listed for the programs and
projects are estimates only and may differ from the actual costs and time frames. In the event
that a program or a project is included in the list for one Project Area but is not included in the
list of another Project Area (or other Project Areas), but the Agency later determines that the
program or project would also benefit the latter, the Agency may use funds available from the
latter Project Area (or Project Areas) to finance all or a portion of such program or project.
Specific projects may also be modified or added depending on actual circumstances, including
but not limited to changing needs of the Project Areas, actual costs of the projects and the
availability of funding. The Third Implementation Plan will not be further amended as the result
of any such addition or modification, so long as the projects are: (1) permitted by the Community
Redevelopment Law (California Health and Safety Code Section 33000 et seq.), (2) consistent
with the Redevelopment Plan of the related Project Area, and (3) consistent with the goals and
objectives set forth in the Third Implementation Plan.
P6401.0001�890387.4 1 of 9
Additional PotenHal Programs and Proiects for Proiect Area No. 1. As Amended
�
Description
Goals
Estimated
Mltigated Costs
Blig6ts
Inadequate public $15,000,000
improvements
Program:Core commercial area projects
Projects may include:
Westfield shopping center
improvements
El Paseo improvements,
landscaping, median work
Improvements along Highway
111
Other related public
infrasttucture and
improvements
Program: Parking areas renovation and
improvements
Projects may include:
Remove blight
Improve public
infrastructure Economic
maladjustment,
Encourage private dislocation,
sector investment disuse and
substandazd
design
Remove blight
Improve public
infrastructure
President's Plaza parking azea
renovation
Other public parking
improvements
Address trafiic
circulation and
deficiencies
Program:El Paseo (West of Highway 74) Remove blight
extension and upgrades
Improve public
Projects may include: infrastructure
median work
landscaping
lighting
— other street improvements
Address traffic
circulation and
deficiencies
Economic
maladjustrnent,
dislocation,
disuse and
substandard
design
Limiting physical
conditions
Inadequate public
improvements
Economic
maladjustment,
dislocation,
disuse and
substandard
design
S 1,200,000
55,000,000
P6401.000 l �890387.4
2 of 9
e
Program: Street widening improvements
4
(This updates the original
description included in the
Third Implementation Plan)
Projects may include:
Monterey Avenue widening
from Magnesia Falls Drive
to Gerald Ford Drive
Portola Avenue widening
between Fred Waring Drive
and Magnesia Falls Drive
Cook Sveet widening between
Fred Waring Drive and
Frank Sinatra Drive
Other arterial street
improvements
�
Frontage road improvements along
Highway 111 — Alessandro
Alleyway
Projects may include:
Street landscaping
Parking improvements
Other related public
improvements
Street lighting replacement and
improvements
Projects may include:
Remove blight
Improve public
infrastructure
Address traffic
circulation and
deficiencies
Remove blight
Improve public
infrastructure
Encourage private
sector invesrinent
Remove blight
Improve public
infrastructure
Replacement and installation of Address traffic
street lights on Fred Waring circulation and
Drive deficiencies
Installation, replacements of
street lights on other streets and
related improvements
P6401.000 I �890387.4
3 of 9
Economic
maladjustment,
dislocation,
disuse and
substandard
design
Limiting physical
conditions
Lack of
infrastructure and
community
facilities
Economic
maladjushnent,
dislocation, �
disuse and
substandard
design
Lack of
infrastructure and
community
facilities
Inadequate public
improvements
Economic
maladjustment,
dislocation,
disuse and
substandard
design
Limiting physical
conditions
$9,000,000
�5,000,000
$30,000
`. Program:Arterial Street undergrounding
(7'his updates the original
description included in the
Third Implementation Plan)
Remove blight
Improve
community
facilities
Improve public
infrastructure
Inadequate public $10,000,000
improvements
Lack o f
infrastructure and
community
facilities
P6401.0001 �890387.4 4 of 9
�
Additional Potential Programs and Proiects for Proiect Area No. l
Description
Program: Desert Willow hotel
infrastructure and
improvements
Projects may include:
Parking structure
improvements
Other related public
infrastructure and
improvements
Program: Parks and other public
recreational facilities
Projects may include:
College of the Desert public
swimming pool and
related facilities
Freedom Park installation at
Country Club Drive and
Liberty Avenue
Civic center park
improvements
Recreational facility buildings
Other parks, open spaces and
recreational facilities
Program:Street widening
improvements
Projects may include:
P6401.0001 �890387.4
Goals
Estimated
MiNgated Costs
Blights
Remove blight Economic
maladjustment,
Encourage dislocation,
private sector disuse and
investment substandard
design
Diversify and
expand economic Limiting physical
base conditions
Improve public
infraswcture
Remove blight
Improve public
facilities
Provide
community
facilities
Remove blight
Improve public
infraswcture
5 of 9
$7,000,000
Lack of
infrastructure and
community
facilities
Inadequate public
improvements
$9,000,000
Lack of
infrastructure and
community
facilities
Economic
maladjustment,
dislocation,
disuse and
substandard
$9,000,000
Monterey Avenue widening
from Magnesia Falls
Drive to Gerald Ford
Drive
Portola Avenue widening
between Fred Waring
Drive and Magnesia Falls
Drive
Other arterial sveet widenings
Program: Fire Station construction and I
improvements I
Projects may include:
Construction of a new fire
station
Program: University Park
infrastructure and
improvements
Projects may include:
Pedestrian bridge construction
Other related public
infrastructure and �
improvements
Program: Berger Drive improvements
Projects may include:
Installation of a new section
of Berger Drive
Other related public
infrastructure and
improvements
�
P6401.0001 �890387.4
Address traffic
circulation and
deficiencies
Remove blight
Improve public
facilities
Provide
community
facilities
Remove blight
Encourage
private sector
investment
Coordinate
revita�izationl
community
development
activities
design
Limiting physical
conditions
Lack o f
infrastructure and
cammunity
facilities
Lack of
infrastructure and
community ;
facilities I
Inadequate public I
improvements
Limiting physical I
conditions •
Lack of
infrastructure
�4,000,404 !
$1,500,000 �
}mprove p�b}ic
infrastructure
Remove blight
Improve public
infrastructure
Address traffic
circulation and
deficiencies
6 of 9
Economic
maladjustment,
dislocation,
disuse and
substandazd
design
Limiting physical
conditions
$500,000
�
`
Program: Drainage improvements
Projects may include:
Pedesn-ian bridge construction
Other drainage improvements
Program: Land Acquisition - open
space
(7'his updates the origina!
description included in the
Th1rd Implententation Plan)
Program: Highway interchange/ramp
infrastructure improvements
(This updates the original
description included in the
Third Implementation Plan)
Projects may include:
Monterey Avenue ramp
modifications at Interstate
10
Remove blight
Improve public
infrastructure
Address traf�ic
circulation and
deficiencies
Remove blight
Improve
community
facilities
Remove blight
Encourage
private sector
investment
Coordinate
revitalization/
community
development
activities
Interchange creation at Improve public
Portola and Interstate 10 infrastructure
Other related public
infrastructure and
improvements
P6401.0001 �890387.4
7 of 9
Economic
maladjustment,
dislocation,
disuse and
substandard
design
Limiting physical
conditions
Lack of
infrastructure and
community
facilities
Inadequate public
improvements
Lack of
community
facilities
Inadequate public
improvements
Limiting physical
conditions and
traffic and
circulation
facilities
$2,000,000
$22,500,000
$ 20,800,000
Additional Potential Pro�rams and Proiects for Proiect Area No. 3
Description
Program: Desert Willow hotel
infrastructure and
improvements
Projects may include:
Goals
Estimated
MiNgated Costs
Blig6ts
Remove blight Economic $3,000,000
maladjustment,
Encourage private dislocation,
sector investment disuse and
substandard
Diversify and design
Parking structure improvements expand economic
i base Limitin h sical
Other related public
infrastructure and
improvements
Program: Highway interchange/ramp
infrastructure improvements
Projects may include:
SP Y
� conditions
Improve public
in&astructure
Lack of
infrastructure and
community
facilities
Remove blight
Encourage private
sector investment
Limiting physical
conditions and
traffic and
circulation
facilities
Interchange creation at Portola
and Interstate 10
Other related public
infrastructure and
improvements
� Program: public recreational facilities
Civic center park improvements
� Recreational facility buildings
Other parks, open spaces and
recreational facilities
P6401.0001 �890387.4
Coordinate
revitalization/
community
development
activities
Inadequate public
improvements
58,200,000 �
Improve public
in&astructure
Remove blight
Improve public
facilities
Provide
community
facilities
Inadequate public
improvements
Lack of
infrastructure and
community
faciliiies
$1,000,000
8 of 9
Additional Potential Programs and Proiects for Proiect Area No. 4
�
a
Description Goats
Program: Sound walls on various streets Remove blight
Projects may include: Improve public
infrastructure
Consmtction of sound wall on
�red Waring Drive Improve
community
Installation and improvements facilities
of sound walls on other
streets
Program: Landscaping Remove blight
Projects may include: Improve public
infrastructure
Landscaping work adjacent to
Hovley Gardens Apartments Improve
community
Landscaping and related work facilities
throughout the Project Area
Mitigated
Blights
Economic
maladj ustment,
dislocation,
disuse and
substandard
design
Inadequate public
improvements
Economic
maladjustment,
dislocation,
disuse and
substandard
design
Inadequate public
improvements
Estimated
Costs
$4,000,000
$250,000
P6401.0001�890387.4 9 of 9
CITY OF PALM DESERT
�
MEMORANDUM
TO: HONORABLE CHAIRMAN AND MEMBERS OF REDEVELOPMENT
AGENCY BOARD, AND CARLOS L. ORTEGA, CITY MANAGER
FROM: PAUL S. GIBSON, DIRECTOR OF FINANCE
DATE: DECEMBER 26, 2006
SUBJECT: LOANS IN DEFAULT
The Redevelopment Agency has no loans that are in default for the fiscal year ending
June 30, 2006.
,.- Respectfully Submitted,
Paul S. Gibson
Director of Finance
PSG:CW:Ick
O IRDALLiuni KnutsoniWPDOCSWDANnnw� R�portsV7003LLoana in Dd�ud Mmo wpd
0
PALM DESERT REDEVELOPMENT AGENCY
REAL PROPERTY LIST AS OF 6/30/06
Acq'n Approx
Property Description Date Acres APN
RDA - Land
74039 San Marino Cir (PA-1 Land Bank)
City Hall Expa�sion
(San Pablo betw F. Waring
8� Santa Rosa)
44215 San Pascual
Vacant Lot - Future Site of
Catalina Pueblos Community Center
Haystack "Open Space"
Haystack/Portola NWC
EI Dorado Extension-Beacon Hill/Hovley
12 AC Project -"Entrada del Paseo"
(SW Corner EI Paseo/Hwy 111)
Vacant Lot - North End
(South of Gerald Ford,
West of Portola)
Cal State San Bernardino, Coachella
Valley Campus (East of Cook betw Gerald
Ford & Frank Sinatra)
� "120 AC ProjecY'
Vacant Lot - North End (South of
Gerald Ford, East of Monterey)
170 AC - Vacant Lot - North End
(North of Frank Sinatra,
East of Portola)
Prinled Si9i2006 / ick
11 /10/03 - 0.14
7/30/02 1.60
12/30/04
0.65
9/15/04
4/5/05
5/2/06
8/30/01
11 /1 /98
11 /1 /98
11 /1 /98
11 /1 /98
11 /1 /98
11 /1 /98
11 /1 /98
11/1/98
11/1198
11 /1 /98
11 /1 /98
10/31 /00
11 /19/01
11 /30/99
10/31 /00
4/18/01
9/15/93
1.90
1.88
6.34
0.97
0.47
0.53
0.18
0.43
0.42
0.64
1.44
0.88
0.39
4.66
5.00
4.69
4.83
4.95
4.18
3.89
625-082-004 -
627-101-002
627-101-017
627-1 Q 1-033
627-101-038
627-101-039
627-102-017
627-111-025
Por 15
630-250-022
630-200-019
632-030-003
640-370-001
640-370-002
640-370-004
640-370-005
640-370-006
640-370-007
640-370-008
640-370-009
640-370-010
640-370-011
640-370-012
653-370-004
653-370-018
653-370-028
653-370-029
653-370-030
653-400-037
122.43 653-420-030
8117/99
12/06/02
38.70
40.47
40.46
0.01
2.51
5.00
5.36
0.02
0.28
8.54
4.89
7.90
44.23
80.95
0.05
2.22
8.81
653-740-001
653-740-002
653-740-003
653-390-078
653-390-081
653-390-083
653-390-084
653-390-085
653-390-086
653-390-088
653-400-043
653-400-044
653-400-045
653-400-052
653-400-054
653-400-056
653-400-057
5aie i
Transfer
Date
5/2/06
Page 1 of 3
PALM DESERT REDEVELOPMENT AGENCY
REAL PROPERTY LIST AS OF 6/30/06
Acq'n Approx
Property Description Date Acres APN
5a�e /
Transfer
Date
�
Desert Wiliow:
Undesignated fut�re use on Portola
north of Maint. Facility jLot 3]
Future "Hotel" (Lot 6]
Future "Timeshares" [Lot 8]
Future'Timeshares" [Lot 11]
Future'Timeshares" [Lot 14]
Vacant Lots South of Deserl
Willow on Country Club Drive
m `�
y cao z
��a
ga ��
� c rn
� c °� vi
� � � �
> �
/�/���i
V/ M
10/15/91
20.29 620-400-003
14.46 620-400-025
0.88 620-400-008
16.80 620-420-0 f 0
0.75 620-450-011
16.91 620-450-012
0.04 620-450-015
13.67 620-450-020
2.10 620-450-021
4.67 620-430-024
4.67 620-430-025
RDA - Buildin�s
Palm Desert Early Childhood Edu Ctr
PDECEC Parkin� Lot
�Jean Benson Child Care Center
75433 Orange Blossom Ln
(Leased to YMCA)
Casey's Restaurant
Pnnted 8/9/2006 / Ick
1118105
625-082-022
625-082-023
4/15/96 0.61 634-061-035
9/30/05 See: Country
Village Apartments
Page 2 of 3
PALM DESERT REDEVELOPMENT AGENCY
REAL PROPERTY LIST AS OF 6/30/06
Acq'n Approx
Properly Description Date Acres APN
HOUSING - Buildfn�s
Catalina Gardens Apartments - 48 studio;
24 1-br units; Senior Housinp
Country Village Apartments -
66 studio units
California Villas - 141 1-br units
Desert Pointe Apartments - 32 studio;
26 1-br units; 6 2-br units
1 /29/98
627-111-025
Desert Pointe Parking Lot
Laguna Palms Apa�tments - 4 studio;
18 1-br units; 26 2-br units
Las Serenas Apartments - 150 1-br units;
Senior Housing
Neighbors Apartments - 24 2-br units
One Gluail Place - 156 1-br;
228 2-br units
The Pueblos Apartments -15 studio units;
Senior Housing
Santa Rosa Apts - 20 2-br units
Taos Palms Apartments - 16 2-br units
HOUSING - Land
20 AC - Future site of Falcon Crest;
LaRocca Villas; Self Help housin�
Vacant Lot - NE corner Portola
& EI Cortez Way
Vacant Lots - Future site of
Palm Village Apartments
Vacant Lot - SW corner
New York 8� Virginia
Housin� for Resale
74047 San Marino Circle
43980 Blueberry Ln
43880 Yellow Sage Dr
43775 Kelsey Ct
Other AHordable Rentals
�Portola Palms MHP Space 73
9/30/05 2.87 637-071-002
3/14/03 3.53 637-190-006
4.57 637-190-007
1 /29/98 640-071-002
1.43 640-071-003
640-071-004
10/5/88 640-071-005
640-071-006
640-071-007
7/1 /2003
1/29198
1 /29/98
1 /29/98
1 /29/98
6/22195
1 /29/98
627-122-005
7.25 622-020-002
1.39 627-102-022
1.91 640-040-008
15.94 640-040-009
0.63 627-102-023
627-102-012
627-093-003
5/12/05
20.44 624-071-042
8/8/00 0.27 625-061-025
10/22/99 627-101-037
4/23/02 627-101-043
10/15/98 637-362-002
11 /24/03 0.14 625-082-003
2/6/04 0.10 634-061-027
12/29/04 0.11 634-062-014
5/21 /04 0.10 634-241-033
� 2/1 f98 � 0.09 � 622-351-073 �
Sale /
Transfer
Date
6/23/06
5/26/06
3/27/O6
1 /24/06
7/29/05
9/7/05
0
Printed 8i9i2006 / Ick Page 3 of 3
PALM DESERT REDEVELOPMENT AGENCY
MEMORANDUM
TO: HONORABLE CHAIRMAN AND MEMBERS OF REDEVELOPMENT
AGENCY BOARD
FROM: DAVID YRIGOYEN, DIRECTOR OF REDEVELOPMENT
DATE: DECEMBER 26, 2006
SUBJECT: OTHER INFORMATION TO EXPLAIN PROGRAMS
Economic Development brings businesses and jobs to the community while working
toward the economic stability and prosperity of the city.
� Services provided for business attraction in economic development can be attributed to
the four hundred eighty-eight (488) businesses bringing one thousand ninety-five (1095)
jobs.
The Redevelopment Agency/Housing Authority invested in twenty-two (22) projects
resulting in six hundred and twenty-four (624) jobs generated for construction.
David Yrigoyen
Director of Redevelopment
PALM DESERT REDEVELOPMENT AGENCY
�
STAFF REPORT
REQUEST: REPORT REGARDING EXCESS TAX INCREMENT REVENUES
AND FINDINGS THAT SUCH TAX INCREMENT REVENUES ARE
NOT NECESSARY TO MEET CERTAIN HOUSING
REQU�REMENTS
SUBMITTED BY: JANET MOORE, HOUSING AUTHORITY ADMINISTRATOR
DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT AND
HOUSING
DATE: NOVEMBER 10, 2005
CONTENTS: RESOLUTION NO.
REPORT REGARDING EXCESS TAX INCREMENT REVENUES
Recommendation:
That the Redevelopment Agency adopt Resolution No. �� approving a Report Regarding
Excess Tax Increment Revenues and making findings that the excess tax increment described
in the Report is not necessary to meet certain housing requirements.
Executive Summarv:
Prior to the issuance of bonds the Agency must show that certain tax increment revenues a�
not necessary to meet its housing requirements. The attached report shows that the Agency has
sufficient revenue to meet its housing requirement and has excess tax increment revenues
available to pay debt service on additional bonds. Adoption of the resolution will approve the
report and make the necessary fndings. This will allow the issuance of tax allocation revenue
bonds this fiscal year.
Backs�round:
Agency staff will soon bring recommendations to the Agency Board regarding the issuance of
bonds to fund various public improvements, including undergrounding utilities in participating
residential neighborhoods in the City, land acquisition for open space, partc and recreational
facilities, parking facilities and other public improvements. The Agency entered into a
Stipulation for Entry of Judgment in Case No. Indio 51143, as amended in 1997 and again in
2002, which requires the Agency to meet certain requirements related to affordable housing.
Among other things, the Stipulation provides that the Agency may incur indebtedness payable
from surplus tax increment on a basis which will be prior to its obligations related to housing (but
not prior to the 20 percent set-aside) so long as the Agency makes a finding, based on facts and
projections, that the surplus (refeRed to as "excess tax increments") is not needed to meet the
housing requirements. Attached to Resolution No. 512 is a report entitled "Report Ragarding
Excess Tax Increment Revenues." The purpose of the Report is to set forth the facts and
projections upon which the Agency may base a finding that the excess tax increments, as
_ identified in the Report, are not and will not be necessary to meet the housing requirements set
forth in the Stipulation and that those tax increment revenues may be pledged on an annual
basis to pay annual debt service requirements on bonds, notes or other obligations or
P6402-0001\837348v1.doc
�
STAFF REPORT
EXCESS TAX INCREMENT REVENUES
NOVEMBER 10, 2005
PAGE 2
indebtedness of the Agency to finance its redevelopment activities other than housing. The
report shows the August 20, 2005 equalized roil of taxable property in each of the Project Areas
of the Agency, the projected assessed value of such taxable property, the projected amounts to
be set aside into the Agency's low and moderate income housing fund, and the projected
housing requirements set forth the Stipulation, as amended. The report atso sets forth the
estimated amounts necessary to meet those requirements. The report includes information
regarding actual development now taking place, as well as development which has been
entitled and which is expected in the near future. The report indicates that the amounts to be
set aside into the low and moderate income housing fund will be sufficient to meet the Agency's
housing requirements.
Staff is therefore recommending that the Agency adopt Resolution No. S 12 approving a
Report Regarding Excess Tax Increment Revenues and making the required findings.
Submitted By:
%
J net oore, Housing Authority Administrator
Approval:
� //�
stin Mc rthy, ACM for �development
Pau1 Gibso , Director of 6ynance
/
i .�
�,��.
_?�� Carlos L. Orteg���cutive Director
�
.,
BY RDA j
ON II-(�-a5
1�rER{�IED BY
Origina! on file with City Clark's Offics
� _ /�-
David Yrigo or of Redevelopment
�
�
2
P6402-0001 \837348v l .doc
RESOLUTION NO. 512
`
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY
APPROVING A REPORT REGARDING EXCESS TAX INCREMENT
REVENUES AND MAKING FINDINGS RELATED THERETO
THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. The Palm Desert Redevelopment Agency (the "Agency") has caused
to be prepared a Report Regarding Excess Tax Increment Revenues, which Report is
attached hereto as Exhibit A. Such Report indicates the last equalized roll of taxable
property in each of the Project Areas of the Agency, the projected amounts to be set
aside into the Low and Moderate Income Housing Fund of the Agency pursuant to
Health and Safety Code Sections 33334.2(a) and 33334.6(c), the housing requirements
specfied in paragraph 1.a, b and c of that certain Stipulation for Entry of Judgment in
Case No. Indio 51143, as amended in 1997 and again in 2002, the projected housing
needs included in the requirement set forth in paragraph 1.d of such Stipulation, as
amended, and the estimated amounts of money necessary to meet the requirements of
paragraph 1.a, b, c and d. Such Report includes evidence and analysis reasonably
supporting and substantiating the projections therein. Such Report is hereby approved.
._
Section 2. The Agency hereby finds and determines that the surplus revenues
described in the Report are not and will not be necessary to meet the housing
requirements set forth in paragraph 1a, b and c of such Stipulation, as amended, with
respect to Project Areas Nos. 1 and 2 of the Agency, and are not and will not be
necessary to meet the housing requirements set forth in paragraph 1 d of such
Stipulation, as amended, with respect to Project Area No. 2 of the Agency. Such
surplus revenues thereby constitute "excess tax increments" within the meaning of that
term under paragraph 2 of such Stipulation, as amended. Such surplus revenues
therefore may be pledged on an annual basis to pay future debt service on bonds, notes
or other indebtedness of the Agency to finance its redevelopment activities, which are
unrelated to low and moderate income housing, and such bonds, notes, or other
obligations or indebtedness
P6402-0001\837347v l .doc
0
RESOLUTION N0. 512
will thereby constitute a"prior indebtedness" within the meaning of such term under
paragraph 2 of such Stipulation.
PASSED, APPROVED AND ADOPTED this day of ,
2005.
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
c
�
�
BUFORD CRITES, CHAIRMAN
2
P6402-0001�837347v1.doc
Resolution No. 512
REPORT REGARDING EXCESS TAX INCREMENT REVENUES
c
October, 2005
This Report has been prepared pursuant to paragraph 2 of the Stipulation for Entry of
Judgment in Case No. Indio 51143, entitled Citv of Palm Snrin¢s v. All Persons Interested, as
amended in 1997, and as amended again in September of 2002. The purpose of this Report is to set
forth facts and projecdons upon which the Palm Desert Redevelopment Agency may make a finding
that certain amounts of tax increment revenues, as identified in this Report, are not and will not be
necessary to meet the housing requirements set forth in the Stipulation, as amended, and that such
tax increment revenues may be pledged on an annual basis to pay annual debt service requirements
on long term bonds, notes, or other obligations or indebtedness of the Agency to finance
redevelopment activities other than housing. As used in this Report, "Agency" sometimes also
collectively means related public entities such as the City of Palm Desert and the Palm Desert
Housing Authority.
1. According to reports issued by the Auditor-Controller's Ofiice of the County of
�
Riverside, based upon the Iast equalized tax assessment roil� the assessed value of taxable property
in all Project Areas of the Agency is set forth on Table 1, below, and is as follows: the Original
Territory of Project Area No, 1, $825,767,882; the Added Territory of Project Area No. 1,
$3,772,744,132; Project Area No. 2, $1,467,872,833; Project Area No. 3, $433,362,444; and Project
Area No. 4, $1,619,071,451.
TABLE 1
PALM DESERT REDEVELOP�IIENT PROJECT AREA3
2005-2008 EQUALIZED ASSESSED ROLL VALUE
bs�ss�d Valuadons
Proj�ct Area S�cund d� Utllity Urts�cund I Total Valu•
-- - - -. . -----•- — . . , - - - -- --�—
Project Area No. 1 Original Temtory
Project Area No. 1 Added Temtory
Project Area No. 2
Project Area No. 3
Project Area No. 4
s729,583,351 s96,184,531 s625,767,882
53,693,561,100 579,183,032 s3,772,744,132
51,451,555,514 516,317,319 51,467,872,833
5383,280,660 550,081,784 5433,362,444
51,607,187,667 511,883,784 51.619,071,451
� Counry Auditor-Controller report for fescal year 2004-2005 available for review at office of Executive Director of
Agency.
P6402-0001\857122v2.doc 1
0
Resolution No. 512
(
2. Table 2, below, details the growth during the last several fiscal years of the net
assessed value of taxable property within all Project Areas of the Agency. The information in Table 2
is based upon previous reports issued by the Riverside County Auditor Controller's Office.2
Flseal ProJ�ct An� No. 1
Y�ar OApinal T�Mtory Growfh
19E5-E6 f301,032.7�3
1988-E7 i328,t93,372
19d7-6E i�0,3E0,258
19E6-E9' S35a.7E9.�97
196�90 =397,104,0�1
1990-91 i�43,241,S�E
1991-82 f460.870,17b
19�2-93 yt76,509.E11
199394 =504,139.473
19D4•o6 i50S,363,101
199SOE f5�0.921,330
1906-97 i'.u5.67s,p35
1997-9E t561,836,577
199d-� =575,BE3.706
199300 =SE2,OOa,406
200Q01 ia47,35�,E6E
200t-02 i663.58t.765
2002-03 i677.d37.�52
2003-04 :720.981.25J
2004-OS s76E.146.02Z
2oos-oe sers,�e�,aez
Avrp� �rnwl p�o�ntaq� horMs�
-- - �- -� - � --- --
TABLE 2
PALM DE3ERT REDEVELOPMEHT AOENCY
PALM DESERT REOEVELOPMENT PROJECT ARFJ13
ASSE33ED VALUATION HI3TORY FOR ALL PROJECT AREAS •
ProJ�ct An� No. 1 ProJ�e! Proj�ct ProJ�ct
Am�r�l A�a (irowrtl� Ana No. 2 Orowfh Arw Mo. 3 G�awth Ana No. 4
... . ... ,M�. - �i,
_ . . • .''�:� : _ ._+
9.35%
9.47'!L
•1.00%
t �.sox�
11 62%
4.00%
3 37%
s.eox
o.e4�
S.S 1 %
1.53%
2.93'K
2.50%
1 10%
11.2�%
2 50X
2.15%
8.36%
8 S4%
�.sovc
6.24%
t97E,986.2e9 (not av�ilaW�)
i1,054.21D,�73 7.�1% f102.157,1Ea
=1.106,6�0,081 4.997� (not av�i��bk)
i1.141,345.276 3.12% i2e7,444,2Ad
i1,278,8�3,404 12 03% =345,056,631
i1,40J,a�7.20e 9 70% i431,794.716
i1,515,7Q2,443 7.�7X f5/6,031,280
i1.612,2�2,70b 6.37% i542.212,121
i1,E92,{�2,395 4 07% t663,724,57�
=�,zss,eos,e�s z.ssx ssss,o4e.4e2
f1,7�5,423,703 0.55% iE03,e63,572
it.752,305.202 0.�0% i639,o50.4EE
i1.764.3E7.E01 1 E3% i692,074,003
i1,E35,9a5,315 2 69% i7�S.D14.253
i1,924,363,E12 4.E1% i814.17E.455
=2,253,001,599 17 OE% tees.e22,389
i2,dS6.890,768 17.12X i959,b92,226
i2,952.532,75E 11.91% i1,144.432,059
=3,160.764,431 772% i1,27�,�M1,3/a
�3.433.954.4E6 7.�8% i1.365.15�,234
i3,772,714,132 9.e7% i1,487,s72,s33
7.0lX
bus yr.
Growfh
..-w �.
, ' :..• 1%�.r'k';�iW'� . • .
29.02% � - • ::� ...�*+�,�'i�:''=�i� ^� ��'..
25 14% �152.624,265 bas� yt. t� , � �: .
1�.31% i15E,70�,45a wtimab "�Pr'w='P�:� :,'"•r:�.�i
5.07% =1E5,316,169 18.77% SE7,�82.305
7.�E1i i1�1.012.915 3.07% 6/0,�60,7�7 4.00%
-3.20X =192,765,917 0.92% 666,027,711 9.01%
a.87% f203,423,3s7 5.53% 695,0�2,503 4.�5%
5.9E% i201.557,484 -0.�2% 697,4a7,�17 0.35%
e.14% =210.642,941 4.46X 72�,859,358 4.EE%
6.33% =216,502,518 3.76% 7E9,753,19J 8.19%
10.63% =235,022,348 7.56% �1d.534,060 18.05%
E.SS% =232,315,372 7.37% 1,04E.408,7�7 14.39%
6.66X i289,92�.155 8 07% 1,207.7�2,3B2 15.20%
/9.25% i2E5,47E.640 5 7a% 1.314,714,496 E E07i
11.32% �353,531,549 23.64% 1,405,�oe.e�e 6.03%
7.�6% :363,296.23e 2.7E% 1.IaE,937,943 5.91%
7.52% =433,362,444 19.2�% 1,610,071,451 5.74% .'
10./O% 7.66% �.20%
Nob: 'D�cr� fn arwaW valu� Is th� �utf a/bpWatlon fhat nmov�d tM unMary utlllty valw hom M» a�cur�d wa�ranant ►o/f.
Z Counry Auditor Controller's reports for prior fiscal years available for review at ofiice of Executive D'vector of Agency.
0
0
J
�
P6402-0001�857122v2.doc 2
Resolution No. 512
�
As shown by Table 2, the average percentage increase in assessed valuation of taxable
property in Project Area No. 1 over the prior 20-year period is as follows: for the Original Territory,
5.24 percent; and for the Added Territory, 7.09 percent. The average percentage increase in assessed
valuation of taxable property in Project Area No. 2 over the prior 17-year period is 10.80 percent.
The average percentage increase for Project Area No. 3 over the prior 15-yeaz period is 7.65 percent,
and the average percentage increase for Project Area No. 4 over the last 13 years is 8.20 percent.
3. New development and construcdon activity continues in all Project Areas. Rosenow,
Spevacek Group, Inc., working with the City's Building Department and Planning Department, has
reviewed new development and construction activity that will significantly increase the assessed
value of the Project Areas. That new development and construction a.ctivity is projected to resc,elt in
additions to the assessment rolls for 2007-2008 for the Original Territory of Project Area No. 1 of
$6,914,910; for the Added Territory of Project Area No. 1 of $15,512,620; for Project Area No. 2 of
�40,936,340; for Project Area No. 3 of S 11,801,127; and for Project Area No. 4 of $1,173,670. The
various development projects aze separated by Project Area and sei forth on Tabie 3, below.
'r
TABIF 3A•1
PALM DESERT REDEVElOP1EKT AGENCY
NEW DEVELOPMENT PROJECTS BY PROJECT AREA
PROJECT AREA N0.10RqMAL TEiiRlTORY
" 1M1�1 Al�i�IfT 1lOLL " �M{M Af�i�NT ROLL - lIIF/1 Ai1EtilNT RALL
E�1wAT� VALAIE I EiIwMTED YALUE Ei1MA1lD YALUE
JppraMO u E�nnY1
UMr 5� or CarNMoe Dtl►
�nybn UN CaM�olon Ac� •U� RdDM� W�id�M� CawnMW� YdiMY RMIdn1� Caiwrd/ �+M�/ R�rdnf� Caiwirot� In1wY1/
AI
Zy1R� a�fa
Cna�br d
ppa�d S�SO 1 1�0{�AR0�00 fT06,000
Caiwwn dfw �P1r�
Rdwt adM
Akiaal�n er/e�alloroonYuebn
u�dr
RMBVeus d1o� cotitutton
�M1oh
a�M�r.
cf�ib�r d
ErtW Od oan�wn. wkr
P�a nRauftit oon�tutAon
F�derh +
Aroc�r» w1+ws pa�
P6402-0001\857122v2.doc
5725 17AFAROLIO
1SW0 1710I
21�0 1 II01-AROA.00
12 � 11A6Nt07-0E NO VALUE
fS0.000
iJ,541.�f0
Z50ZI00
u �a�odusmae steu.�eo
T�M ft,I1t,IM i1.l1{,{i1 i0
�
i0 i��M� M M M t�
� Resolution No. 512 .
TABLE 3-A-2
PALM DESERT REDEVELOPMENT AGENCY
NEW DEVELOPMENT PROJECTS BY PROJECT AREA
PROJECT AREA N0.1 ADDED TERRRORY
lOf1�1 Ai�i�ffi ROLL 201{�I A!liplElfT ROLL 211F11 A�,SEii�Ifi ROLL
. E�T�TEA VALUE EtT�117ED YALUE Ei7NNTED VALUE
Eifnybd
AppaMa a CanqlNoe
Undr SUFT a DMrRd
DrcApfon Uw Car„cbn Aa� iUdt DM� R�r/�I CamwcYl Inartl� Rrid�tM�l Ca�nrid� InAiMyl Rwidrif� Camwd�l NiA�Mfti
I I I
wn�a e,�.�o. �yos��am-
aeo. a�o. +or� �>>, � a K�,a�s I � I I
►+om�w�anr �ar �L�ob�ao�•
PaR p�eft /rk oonrupon 17 auw OE NO VALUE I I I I
Y�bwTnrt 1710i-AR07- I I I I I
ao. oAo. .Onor.a d. a
�„, �. ,.� ,z� ��.��, I l - - I =z�.�� � I
v�o�.ro�r o�o. oo�� ez,a z sa�-WtoFoq I I r,.,�o.o6s � I I
� � � ,��s , ,�� � , l � ��,� i � � �
���. ,��
�. �. .� �r , ,a � _�.�.�, � � �
��
�� .� .�.� ��, , ��K�, � � � �
��.,� ,��o�. .
a�oo.+.. o�o. +oo�a.a �reo � a I s�as�.�ao I I I
�
s�.,...e o� �,�abn ��� sioe�wc► s�.�ea��s I I ( I
DwtPriw� nrdcy wMr 1Gi06dR01• -'
ao. o�. �.o� a000 a l u„s.000 I I I I
Mi1011t� 1]106•AR07. I .
b� eNo� p�o�! Et92 1 0{ t76l.000
Cnrw � rq4 hnir. iwer 1L07,AROb
�� ool�aa+s� ooeMutfoe 9� 09 f11.l15.175 f�1.t0.S,tl5
lin/arM rnOr 17A6�AH01-
oadov�.r i�i.r.eM oa.ri�don a a s�,u�.ns
unloiMM une�r 17A6AR01•
D�upnwil �Yy�f�mlp aonMuc/oe 3 01 i�.EJ1.275
Cholo� ud�r 1Gq6,Nt01•
Fi�wpMr �iqM Ir�h �b^ � 01 itMf.700
�ndv
PrroVW riy�qn� ooiMucbn 973an� fS 7A�. j7�.�07.625
�brd�hw undr 1710Q/IR07•
� vr.� �a.� oo�w,� x a ra vkue
s�.,:�.t� �.�t+.�» a u�,m.w. K,�s,�a � t� s,�,n t� : .
L
P6402-0001�857122v2.doc 4
, Resolution No. 512
TABLE 3�8
� . PALM DESERT REDEVELOPIiEIiT AGENCY
NEW DEVELOPMENT PROJECTS BY PROJECT ARFA
PROJECT AREA M0. 2
2007-01 ASEESSMEIR ROLL 200i-0! AiSEYSMEKi ROLL ' 200L10 ASSEStMENT ROLL
EiT1MATED VALUE EST�IITED VALUE ESTIMATED VALUE
EMnrYd
APProwA a ConwMo�
Uidv S�T or DMtRd
DMctqon lM� Cartuebn Aa�t • UNY D�Y Rnld�nly Camwd� YdiMf� R�Mdri{� Conwrnd� Y�drM�l RMidrif� CaenrdM YduMW
� �
C�I ShY
UNr�niq uidr 200�-0a
41r1r P1n �dioa� oonYuefon 200 aa� AROF10 NO VALUE
S��a�v WOp� p oourn oaMrclon N� Na I I I I I
17IOb.AR01•
6rb Capi/ .�a �ypraM 2SS00 1 OE
Cawld FeM o�or -a�Mt
pA�w '+Mu�Yy miMruolon { 1 aqw S IpT
�
can�.ro. ,�o. ,9� , ,t�os�o►.
.r,«r. �.�ww ��ww .uw e�as�� a ra v�ue
►,/Nop.R a,. � wo. i ppa.a 29Yso YOL�I(tar
wya,.r i Aar
Johnwn O�o�l eOUMI�I � Opo�d '1� 0 110aARot
i W1.11S
� �q o110�, �aoT
Rrk Ev�s I oM � �Opo�d Mobt �07,AR
Sea1M� O�n i rdr 17A6�AR04
Bi� i 40� i anwucron SJ002 S 01
Virr Cw�rr � qprdM 11E.000 S IJi�y 407
i ra�liarU
p�nydo ib �,Iniroo� � p�p�d tlQ66 7A7
LOMI
I�Mpw�wM i r�Or 1NO6,Aq0]-
Gnrr � wal � an�uclbn 1DS1S2 2 OE NOVKI�
fS.S22300 � I
NO VAU� I
� i i i
s�.o�.:so I I
se,s�zaoo I I
i70.'i11.700 i7.K7.000
f1.J14.000
iJ0,0f0.000
i].f1J.000
IM�en �nl � I
blrron 011n � io� t ppaMd 2147! IAFAR07-0M iS.7S1.J90
:amwAM � am�riRf
�wMr �sn1r :jppo�E �I000 1 1IO��AROF1� NOVAU�
Cau�o Fbnw .wip� f� �prawd S �cnt 1f d06�AR01-0! ff.�M.100
17104AR07-
Pafo4 Par� � f�nM +PO�� S nnt 16 01 i1.EQ➢.r00 f4.N9.100
lM
Pao4iiHonrt rp�hniy �ppa�E aa'n 1{ 1q1AR0e-Oi f9.19S.100
PonOror JI.O6 itIOFAROF
F1anr Yn�f�tiy appro�e awr 217 10 i�25T2,76]
I�FW J.it ttq)•AROb
prr�nwt �Yq� Ir� �ppaN rdrt 14 01 fE.S73.950
D�wt Wi� M2{
»� .ro.r�rr �oa� .a« na ��oo-u sez�n.»s
ftl,IM.2M i1f.tlf,1M p,fltON {l�.171,iM i/2,'�f,MO i�,f13,IM itt�ll/,771 �
0
�
P6402-0001\857122v2.doc 5
Resolution No. 512 , �
TABLE 3�
PALM DESERT REDEVELOPMENT AGENCY �
NEW DEVELOPMENT PROJECTS BY PROJECT ARFA
PROJECT AREA N0. 3
2N7�IAi��JfiROLL � IN{�IAqE�M1E1fTRq„� 2MI.1�AiiEt�Y9RROLL �
EiilY11TED VAUIE EiT1YATED VALUE ESTMIATED VALUE
E�fmt�d
Appw�d a ConqNon
UnOr SOFT or DM►Rd
Dra4bn Uw CaiMucbn At� �UnMt OaM Rwka�� CannKdd IikuM41 R�nl� Cainwd�l indwllr R�id�n(�I CawnrrLl Yku�1Y
PA� �
unAr 1LO�MOQ f
c.r.ra prYti�r I oontf�uc�oe eu to I I I � I � I
1
na�.w. eo�ar � oo�w� � n»s z 1zos�a�. I se.»tozs I I I I I I (
v�sr�,.� �.� oar u� I�o.aoo I��+o�. I I sz000.aoo I I J I I I
V1abAep I w�Ma� oo�rtuolon ��p � I 17AF11R01-I � I:�.t16,000 I I I I
a4
Cer�ar+bn
rrd t7A1AROL
hp�Mon ippowd ]� 01 NO VALIE
f3� Dwrt
��
Ofa unOr 172 iG�ObAR01•
co�owi �.Ae+allo. oonw+�bn +du a szau.+oa
CaotlC3oM�bl aRa I �PoroNd I 23000I IIq1'AROLO� I I ( I LS.11S.000 I I I
20 Aa� Sr �nOM Miy I �ppp�d J I�(��b-�ARO� I I I I I � I�,SE0.000 I (
�� I� I� I= I�-��� I 1 I I I f�.�.�
� t� J s�.ws.�n � s�,�u� � s� � KnR� � t� � sasw.� � t� I s�.��
�
Pbao2-000i�gs�t22�2.ao� 6
� Resolution No. 512
0
�
e.rtira
ca�pMon
SaFT i D�I►Rd
Dwa�own lw orAon� Udb D�Y
P/A 4
Pin D�wt � 17q1a1Ft0?
Cowify q� �, 111� 10
e+�k.
ncrdo�
Fmdom 011o�.
Cp�n�r d�ltlean. tZp1-ARO6
Psk Mrit 0�
TABLE 3-D
PALM DESERT REDEVELOPMENT AGENCY
NEW DEVELOPMENT PROJECTS BY PROJECT AREA
PROJECT AREA N0. 4
2007-0d ASSESSMEKT ROLL � 2008-09 ASSESSMENT ROLL ! 200�10 ASSESSMENT ROLL
ESTMIATED VALUE ESTIMATED VALUE ESTIMATED VALUE
R«k�n/� Comnralr IMuriir R�M�MtI Cannrcir In�1'vl RMidrily Camirrc4l irdu�Yty
� � �
i�1.614.f00
NO VALUE
Mhney� I 1?A6AR06�
Raannl mf+uant 01
� f -
f41.b14.i00
{1.1)7.610 I N� I I
st,m,ao � 10 t�t,sw.�oo � to I to ttt,st�t,�ao so so
For purposes of this Report, the Agency has conservatively estimated future growth based
upon historical experience and based upon expected new development and construcdon activity and
projected development. Estimated futurc growth in all cases is less than actual historical experience.
Estimated future growth is shovm on Table 4, below. Projecdons contained in Table 4 utilize a
four percent growth rate. Growth in the unsecured assessment roll for all Project Areas has been
estimated at one percent per annum for the term of the projections. Based upon the foregoing, the
future assessed value of taxable property in each of the Project Areas is projected on Table 4. These
projections are well below the actual historical experience of the Agency.
P6402-0001\837122v2.doc
7
, Resolution No. 512
Fiscal
Year
c`o
�
�
1
2
3
4
5
2005-06
2006-07
2007-08
2008-09
20t?9-10
TABLE 4-A
PALM DESERT REDEVELOPMENT AGENCY
Houaing Set-Aside Fund
Tax Increment Revenue Projection Summary By Project Area
� 20°�G Housin� Set Asld� Tax Ihcrem�nt R�vsnuss �
Project Project Project Project Project
Area No. 1 Area No. 1 Area Area Area
Original Added No.2 No.3 No.4
Territory Territory
51,630,694 56,173,614 52,699,293 5560,234 s2,035,625
1,688,678 6,465,367 2,813,939 590,734 2,162,487
1,762,591 6,799,367 2,933,167 645,730 2,296,731
1,826,807 7,240,715 3,141,165 691,224 2,516,166
'1,882,582 7,8?2,549 3,479,352 774,466 2,744,376
Total
Housing
Fund
Revenuss
=13,099�461
13,721,205
14,437,586
15,416,076
16,503,325
6 2010-11 1,960,970 7,961,801 3,943,770 813,497 2,899,573 17,579�611
7 2011-12 2,032,076 8,325,007 4,108,179 854,081 3,060,977 18,3a0,320
8 2012-13 2,106,008 8,702,728 4,279,161 896,278 3,228,834 19,213,009
9 2013-14 2,182,880 9,095,542 4,456,980 940,154 3,403,403 20,078,958
10 2014-15 2,262,808 9,504,054 4,641,908 985,775 3,584,953 20,979,49a
11 2015-16 2,345,915 9,928,891 4,834,230 1,033,212 3,773,762 21,916,011
12 2016-17 2,432,328 10,370,707 5,034,243 1,082,537 3,970,122 22,889,�37
13 2017-18 2,522,180 10,830,181 5,242,252 1,133,825 4,174,333 23,902,772
14 2018-19 2,615,607 11,308,018 5,458,579 1,187,156 4,386,711 24,956.072
15 2019-20 2,712,754 11,804,954 5,683,556 1,242,610 4,607,582 26�051�455
16 2020-21/1 2,813,767 0 5,917,528 1,300,272 4,837,286 14,86d,854
17 2021-22 2,918,803 0 6,160,857 1,360,232 5,076,175 15,516,067
18 2022-23 3,028,022 0 6,413,915 1,422,580 5,324,617 16,189,135
19 2023-24 3,141,591 0 6,677,093 1,487,413 5,582,995 16,889,092
20 2024-25 3,259,684 0 6,950,795 1,554,829 5,851,706 1T,617,014
21 2025-26 3,382,483 0 7,235,441 1,624,932 6,131,163 1a,374,01�
22 2026-27 0 0 7,531,471 1,697,830 6,421,796 15�651,096
23 2027-28 0 0 7,839,338 1,773,634 6,724,052 16,337,023
24 2028-29 0 0 8,159,517 1,852,460 7,038,395 17,050,372
25 2029-30 0 0 8,492,499 1,934,429 7,365,311 17,792,239
2s 2434-35 0 0 8,838,798 2,Oi9,687 �:_ ' D 10,838,466
27 2031-32/2 0 0 9,198,946 2,108,306 0 11,307,251
28 2032-33 0 0 9,573,496 2,200,479 0 11,773,�75
29 2033-34 0 0 9,963,025 2,296,330 0 12,259,355
30 2034-35 0 0 10,368,132 2,396,005 0 12,764,137
31 2035-36 0 0 10,789,440 2,499,657 0 13,2a9,097
32 2036-37 0 0 11,227,598 2,607,445 0 13,835,042
33 2037-38 0 0 11,683,278 2,719,535 0 14,402,512
34 2038-39 0 0 0 2,836,098 0 2,836,098
35 2039-40 0 0 0 2,957,313 0 2,957,313
36 2040-41 0 0 0 3,083,368 0 3,083,368
37 204i-42 0 0 0 3,214,454 0 3,214,454
38 2042-43 0 0 0 3,350,774 0 3,350,774
Totals 550,519,229 5132,123,494 5215,770,942 563,729,556 s109,199,129 i571,342,350
1/ Year in which the Added Territory of Project No. 1 is projected to hit its 5500,000,000 tax increment limit.
2/ Year in which Project No.4 is projected to hit its S600,000,000 gross tax increment limit.
�.
0
�
P6402-0001\857122v2.doc $
� Resolution No. 512
TABLE 4�-1
� PALM DE3ERT REDEVELOPMENT AGENCY
PROJECT AREA NO. 1 ORIGINAL TERRITORY
Tax incnment R�v�nus Proj�ctions
Fixal ' /iu�»��d V�lu�fbn � Estimaaed UniMry County Total Housing Redev
Year Securod New Unsecurod Total Tax Utillty Admin. Gross 7ax Fund Fund
� GrowC� Factor Value Growth Facbor Incromenfal Inaement Revenue Fae Increment at 20% Beforo Tax Ag
} @ 4% Add�d �.25% Valuafbn Revenue 0.01467 Rev�enue PymbJt
1 2005-06 72�,Si3,JS1 96,164,5�1 798,2a2,04i 7,9i2,tY0 2l2,060 (121r40�) a,1S3�t71 1,630,694 6,522,777
2 2006-07 758,766,685 96,424,992 827,705,841 8,277,058 292,060 (125,726) 8,4�3,392 1,688,678 6,754,714
3 2007-08 789,117,352 6.914,910 96,666,055 865,212,481 8,652,125 292,060 (131,229) 8,812,95fi 1,762,591 7,OS0,364
4 200E-09 827,873,553 502,900 96,907,720 897,798,337 8,977,983 292,060 (136,010) 9,134,033 1,a26,807 7,307,227
5 2009-10 861,511,511 0 97,149,989 931,175,664 9,311,757 292,060 (140,907) 9,462,909 t,892,582 T,ST0,327
6 2010-11 895,971,971 97,392,864 965,879,000 9,658,790 292,060 (145,999) 9,804,851 1,960 910 7,t43,d81
1 2011-12 931,810,850 97,636,346 1,001,961,361 10.019,614 292,060 (151,293) 10,160,3a1 2,032,OI6 S,12d,�0�
8 2012-13 969,083,264 97,880,437 1,039,471,886 10,39d,779 292,060 (156,797) 10,530,041 2,106,008 a,424,033
9 2013-14 1,007,846,616 98,125,138 1,076,485,91E 10,784,859 292,060 (162,521) 10,914,39d 2,152,880 i,7�1,519
10 2014-15 1,048,160,460 98,370,451 1,119,045,096 11,190,451 292,060 (168,471) 11,314,039 2,262,808 9,OSt,232
11 2015-16 1,090,086,900 98,616,377 1,161,217,141 11,612,174 292,060 (174,659) 11,729,575 2,345,915 9,3aZ,660
12 2016-17 1,133,690,376 98,b62,918 1,205,067,458 12,050,615 292,060 (181,093) 12,161,642 2,432,328 9,729,313
13 2017-t8 1,179,037,991 99,110,076 1,250,662,230 12,506,622 292,060 (187,782) 12,610,900 2,522,180 tO,Oq,720
14 2018-19 1,226,199,510 99,357,851 1,296,071,525 12,980,715 292,060 (194,73b) 13,07a,037 2,615,601 10,46Z,430
..._ 15 2019-20 1,275,247,491 99,606,?45 1,317,367,900 13,473,679 292,060 (201,971) 13,5fi3,768 2,712,754 10,t51,014
16 2020-21 t,326,257,390 99,855,261 1,398,626,815 13,988,26A 292,060 (209,492) 14,068,836 2,813,767 11,25S,Od! .
17 2021-22 1,379,307,686 100,104.899 1,451,926,749 14,519,267 292,060 (217,312) 14,594,016 2,915,803 11,675,212 '
18 2022-23 1,434,479,993 100,355,161 1,507,349,319 15,073,493 292,060 (225,443) 15,140,110 3,028,022 12,112,oea
19 2023-24 �,491,859,193 100,606,049 1,564,979,406 15,649,194 292,060 (233,899) i5,T07,955 3,141,59t iT,566,�6t
20 2024-25 1,551,533,561 1p0,d57,564 1,624,905,289 16,249,053 292,060 (242,691) 16,29d,422 3,259,884 15,0�l,7�7
21 2025-26 1,613,594,903 101,109,708 1,687,218,776 16,872,18e 292,060 (251,834) 18,912,414 3,382,483 13,S29AS1
Total s 2005-06 O��ouyh 2025-26 7,417,a10 250,224,165 6,133,256 (3,761,275) 252,596,147 50,519,229 202,076,917
Totels Totel 1917-78 fhrouph 202�-25 �67,5t7,S61
1! Revenue net of Housing Set-Asfde but flro� b tax epenq paymenb.
P6402-0001\857122v2.doc 9
i
Flscal
VEY
1 100S0i
2 2006-07
3 2001-08
! 200E�09
5 7D04-t0
6 201411
1 2011-12
6 ?D12•13
9 2013-11
10 2014-15
11 7'D1S16
12 201611
1J 2017•11
u 2o���s
15 201320
1{ 20i0�21f!
17 2021 22
tE 2012-23
19 202321
20 202425
21 102526
22 20262�
za �rr•za
24 7D1129
25 2D2330
26 20JQ3�
27 20Jt.32
2E 2032•33
Assessed vaWaeon
Securod Unsecured
prowlh � prow7i New
4.0% 015% Value
7,IW,SN.100 7f,1q,032 Adu�
3.81t,303,511 19,3E0.990
3.99/.955.6A6 19.519.442 15.512,670
4.170.657.038 79,778,39/ 6311E,605
4.W1.4�2e9 79.9n,63T �d.9Bs�i5
4.599.JOB.9A1 eo.�n.�e�
4.1A1,2�2.381 A0.31t.226
t.911,61J,616 s0.579.171
5.17J,59A.223 10,7Sp,619
S.JA0.5�2.152 S0,9A2,57t
s.sss.��.s�e e�.��s.or�
S.e19,59�.3ot 01,36T.99U
6.062,31s.16� e1.591,460
s,�,va.� e�.�ss.�x
6.5r6.252.226 e1.999.921
i,10t,107,315 t2,20{,921
�.aeo..2s.�m ez.��o.�
7.363.613.�W A2.616AE6
�.ese,�e�.�oz e2.ers.aoe
1,96l.St6.710 E3.030.06�
S.2D3.097,41/ E3,237,639
6,614 421.338 63.�45.733
e.9st.�e,»z n�.ss�.��
9.J11.355.120 B3.S63.4e3
9.690,052,415 bl.OIJ.142
10.011.65l.542 d4,263.325
10.rE0.7E0 724 61.�91.039
t0.e99,99t.153 M.706.26E
Inaemental Genera� Total
Value Levy(1%) Unitary Tax Counry
Tax UtAiry Inaement Admin.
Inrlemenl F�es
�,111,Af,077 �1,1i{,7f1 1]I,017 31,701,t0{ (4Ii,1�0)
3.26�.619,N5 32616.195 13A,017 32,784.?12 (�.57.379)
3.�Si.9s2669 34,339,E27 13�.017 31.471.6/4 (461.006)
J.657.71E,915 36.511.790 136.017 36.715,E01 (512230)
5.646.J26241 ���83.462 1JB,017 3b601.2� �53a.535}
,.OZ1422704 �10.234.717 13E.011 �0 372.211 (5631�2)
4.T01.595,547 4201S.96S 1J6.017 12.21J.973 (SEE.936)
4.399.127.7EE 43.991,270 138,011 44,129.296 (615.657)
1.59A,313.713 45,913,13A 1JE.011 �6.121,156 (64�416)
�.E06A59.664 �E.064.507 1�.011 45.192.611 (672,3/5)
5,020.BE3.E06 50,20a.E3E 138.017 50.�6.�56 (702�0)
5.214.9t7,�22 52.449.tT3 1J�.017 52,567.191 (733.655)
S,�17.901,56E 51.779,Of6 138.011 54.911.063 (766.159)
5J20,203.613 51,202,031 13E.011 57,310.054 (799.963)
5.9%1.1E7.091 59.721.571 13E.017 59,959.88� (A35.116)
i,t]4,24Z112 «7t2,It2 1�t,011 {2,A0,47� (p1,i7�)
8.506.771)E7 65.067,715 �38.017 �,�.735 (904.699)
6.790,t94.E10 6�,901.949 13E.017 6E,0.79.966 (949.240)
7,014,917.149 70.E49,471 138.011 70,961.4A9 (990.�61)
7.391,4at.n5 73.914,E1e 138.011 74,062,E35 (1.033.12n
�a�o.2�o.oz� n.�oz�oo i�e,o» n,2�o,»e ��,o».so+�
8.011,E02.013 80,41S.Q20 13E.017 D0,556.037 (1,123.�)
t.316.561,4e1 eS.�65.Q75 13a.OtT {4.00.1.642 (t,171.956)
e.��s,�s�.su a�.�s�.ssa »e.a» e�.se9.se3 ��.�z�.�e»
9.11E.060.528 91,150.605 1�.017 91.315.823 (1.774.005)
9,505,67p.� 96.06E,72E 13E,017 96.196.745 (1.320.110)
9,909.1E9.6% 99.091.597 138.017 y9.229.9tt (1,361,37n
10.32�.6J1.362 103.7D6.31� 138.011 103,424.331 (t,1�2.E95)
9�.676,�00 Ton12005-061orwrd
11 Wv�nu� nM of HaMiip S�t-MfO� bul yrou b 1� ap��cy P�yernti
2l Ye�r m whfd� Projea Aroa is projectetl b hrt tax inaement rovenue pp
roui
Toi2� Redev
Total Housinp fu�d
Gross Taz FunA Befae Tax Aq
Inaement at 20% Pymtt /1
30,NI,Oi1 f,1T7,{II 24,114,454
32,326.a33 6,165.36� 75,061.166
33.ygs.g37 6.199.361 21,191,169
36.P03.57� 7,2�0.715 2{.962,E6i
38.p62,1{5 1,512.5/9 �0.450.196
jg.apg.Qp3 1.961.ept 31.b�7.2Q2
�1,625,037 E.325.007 33.J00.029
43.513,63e E.70272E 34,610,911
45.q7,709 9,095.542 36.J62,167
41.520.269 9.501.061 �A.016.215
49.6/1.13b 9.92D.D9t J9,)15.566
51.a5,7.536 10.yT0.707 41,482.6�{
54.150,904 t0,t30.1Et 13,J20,7�
s�.s�o.o�� »,3oe,o,e �s,�32.on
59,024.770 11,E0�.964 41,P19.E16
t1,�Ot,7i1 12,321,752 p,2A,001
61.296,036 11.A5910� 51,�.i6.e29
67.OB0,726 13,41E,145 53,6%1.581
69.997,12� 13,9B9A25 55,997.702
�J.019.70E t4.QpJ.g12 5E,115.76�
16.15�.116 15.232,623 60,930.�9J
79.�32.183 15,E16.437 63,515 741
62e31.A7G 16,566,J67 E6.2�.SA9
d6.J67.602 17,273.520 E9.09/.062
�o.ou,ev �e,aot.s2� �2.oas.ss�
q3.e6E.636 16,77�.121 75,Q94.908
97,M5.537 19.569.101 7e,T76.130
101,9Ai.136 20.396,2e1 E1,SE5,149
3/1.0.72, 979 1.364,13 t .916
.�
�
�
TABLE 4�-2
PALM DE3ERT REDEVELOPMENTAGENCY
PROJECT AREA N0.1 ADDED TERRITORY
Tex Incnm�nt R�v�u� Proj�cUons
�
R� .ution No. 512
P6402-0001�857122v2.doc 1�
s
�
Fitcal S�cund Unucund
��ar Valuu ValuN at
� 4% pK rr. 0.25%
TABLE 4-BJ
PALM DESERT REDEVELOPMENT AGENCY
PROJECT AREA N0. 2
Tu Inenr►»M R�v�nw ProJ�ctlon�
N�+r Dw. INt Ettlm�Md Unitary Counly
Da. Ina�m�nhl T�x Utllky AdTin.
Valu�tbn Incr�nt Rw�nw FM
Fee lo d�te (1,036,588)
1 2005-0� 1,451,SSS,S14 ttat7,31i Actual 1,�{5,715,7fi 13,{57,154 27,0{3 (11S,T4Y)
2 2006-07 1,509,61T,735 16,358.112 1,123,a18.100 14,238,164 23,063 (191.554)
3 2007-08 1,570,002,444 1fi,399,008 40,936,340 1,484,244,005 14,842,440 23,063 (199,670)
1 2008-09 1,675, 376,335 16,440,005 100,326,850 1,589,65e,893
5 2009-10 1,8,6,731,313 16,�81,105 155,249,738 1,761,054,971
6 2010-11 2,Od2,060,292 16,522,308 1,996A25,153
7 201t•12 2,165,342,704 16,563,614 2,079,748,871
8 T012-13 2,251,956,412 16,605,023 2,166,403,988
9 �0131� 2,342,034,669 1fi,646.535 2,256,523,157
10 2014-15 2,435,716,055 16,6E8,152 2,350,216,760
11 201�r16 2,533,144,696 16,729,872 2,447,717,122
12 2016-17 1,634,410,485 16,771,697 2,549,084,735
13 2017•16 2.739,649.305 16,a13,626 2,654,505,481
11 201&19 2,849,443,2T7 1fi,855,660 2,761,1�1.490
15 2019-20 2,963,421,006 1fi,897,799 2,87E,181,360
16 202a21 3.081,951.848 16,910,044 2,996.740,445
11 2021-22 3,205,238.182 16,982,394 3,120,061,109
18 2022•23 3,333,445,609 17,044,850 3,248,313,012
1g 2023-24 3,468,7E3,433 17,06),412 3,381,693,�98
20 2024-25 3,605,454,771 17,110,OE0 3,520,401,404
21 202526 3.749,672,961 11,152,856 9,664,fi68,370
22 202�27 3,899,659,BS0 17,195,738 3,814,698,170
23 2027-2� 4,055,646,275 17,238,727 3,970.727,555
24 202&29 4,217,872,126 11,281,624 4,132,996,503
25 202�30 4.386,587.011 17,325,028 4,301,754.592
26 203U-31 4,562,050,491 17,36g,341 4,477,261,3�5
27 2031-32 4,744,532,511 17,411,762 4.659.786,826
28 2032-33 4,934,313.812 17,ISS,291 4,849,611,656
29 2033-34 5,131,686,361 17,498,929 5,047,027,846
30 203t•35 5,336,953,819 17,542,677 5,252,339,048
31 203�36 5,550,431.971 17,586,533 5.465,E61,056
32 203�37 5,772,419,250 1T.630,500 5,68T,922,303
33 2037-3E 6,003,347,2Z0 17.674,576 5,918,664,349
TOTALS 296,512,928
1� Revenue net d Housiq Set-Aside butpros� b lax sperwY D�yrtienls.
P6402-0001�857122v2.doc
15,e96,589
17,610,550
19.96�,251
20,T97,489
21,661,040
22,565,238
23,502,488
24,477,171
25,490,841
26,545 055
2T,641,415
2E,181,614
29�967,404
31.200,611
32,463,130
33,816,934
35,2Q4,074
36,646,68/
3E.14fi,9E2
39.707,276
41,329,965
�3,017,546
4t,T12,614
�6,591,868
48,496,117
50,4)0,278
52,523,390
54,65E,611
56,6T9,223
59,18E,843
11
23,063 (213,829)
23,063 (236,E50)
23,063 (268,465)
23,0fi3 (219,65�
23,063 (291,296)
23,063 (303,401)
23,063 (315,989)
23,063 (329,081)
23,063 (342,697)
23,063 (356,857)
23,06J (371,583)
23,063 (38fi,89A)
23,063 (402,52�
23,063 (419,389)
23,063 (436,615)
23,063 {454,531�
23,083 (473,1fi3)
23,063 (�92,539)
23,063 (512,691)
23,063 (5�3,618)
23.063 (555,444)
23,063 (578,111)
2�,083 (601,685)
23,063 (62fi,201)
23,063 (651,698)
23,063 (678,215)
23,083 (705,791)
23,063 (734,471)
23,063 (T64.298}
23,063 (795,318)
� ra.r r.►�►�
Resolution No. 512
Tohl
Oros� Ta
Incrwn�nt
f13,�Of,J1S
1��/Oi�{17
14,069,693
f4,665,833
Howhp Total R�dw.
Fund Fund b�fon
Q 20% Tax Ap Pymbll
2,69l,293 10,7D7,174
2,813,939 11 �55,754
2,933,167 11,732,666
15,705,823 3,141,165
17,396,762 3,419,352
19,118,819 3,943,770
20,540,895 4,108.179
21,395,s06 4,279,181
22,284,899 4,456,9E0
23,209.541 4,641.908
24,171,152 4,834,230
25,171,213 5,034,243
26,211,261 5.242,252
27,292,895 5,458,579
2E,417,779 5,683,556
29,5e7,642 5.917,528
30,804,2E5 6,160,E57
32,069,577 6413,915
33,385,�66 6,6T7,093
3/,153,974 6,950,795
36,17T,207 1,235,441
37,657,353 7,531,�71
39,196,690 7,839,33E
40,797,584 6,159,511
42,�62,497 �,492,499
44,193.992 E,638,79D
45,994,T30 9,195,946
47,E67,481 9,513,496
49,015,126 9,963,025
51,040,fi62 10,36E,132
53,947,202 10,789,440
56,137,9d6 11,7lT,599
56,418,389 11,fi83,21E
1,188, 52l, 835 I 215, 770,942
12,564,658
13,917,409
15,775,079
16,432,T16
17,116,645
17.821,920
1a.567,633
19,336,922
20,136,971
20,969,009
21,834,316
22,734,223
23,6T0,114
24,643,42E
25,655,662
26,708,373
11,Q03,179
28,941,766
30,125,883
31.JSI,J52 '
32,63E,067
33,969,99a
35,355,193
36,795,784
3E,293,985
39,852,101
41,412,529
�3,157,761
44,910,390
�6,733,tii
E63,Os3,768
r
TABLE 4�
PAL1A DESERT REDEVELOPMENT AOENCY
PROJECT AREA N0. 3
Tuc Incnrtrnt R�vsnu� ProJ�ctlom
� Resolution No. 512
Fbcal' A.sses�ed Vduali�on � T1 Ba�ed On UliMy Caunly ' Tmc Inaement RwrorM�ec �
Yser S�axed Unaeaxed New Dev. IncrortienW Taz Rale Of Rev. Adrtin Gross Housinp Taz Inc
Gowlh Q Growln A Vdue Valua 10% Fee Ta Inc. Fund aRer Houairq
4.00% 0.25% Added (0.0131) 8 20X beion TA Pyrnts
BY 149,523,255
12005-0� �S�,2t0,fi0 50,0{1,7�1 2t�,t39,1t9 2,{5�,3l2 741 (37,f61) 2,�01,172 5�0,251
2?OOE07 398,611,886 50,206,988 299,295,620 2,992,95fi 741 (40,028) 2,953,669 590,734
3 T001-08 414,556,362 50,332,506 11,801,127 321,166,140 3,271,667 741 (43,758) 3,718,652 645,730
12008�09 443.411,788 50,458,337 5,875,000 350,221,811 3,502,219 741 (46,839) 3,456,120 691,224
5 200�10 467,258,260 50,584,�83 24,087,500 392,406,988 3,924,070 141 (52,181) 3,812,330 174,466
6 201a11 510,999,590 50,710,944 412,181,280 4,1T1,873 741 (55,127) <,067,4B7 813,497
7 ZOtt-12 b31rWP,674 60,S37.T22 432,7b4.041 4,�27,610 741 �I,dTT) 4,T/0�{04 l64,OB1
e 2012-13 552.697,157 50,964,816 454.138,718 4.541,387 741 (60,73n 4,481,391 896.276
9 2013-14 574,805,043 51,092,22E 476,314,016 4,763,710 741 (63,111) 4,700,170 940,154
10 2014•15 597,797,245 51,219,959 499,493,948 4,994,939 741 (68,A03) 4,928,877 985,775
112015-16 621,709,135 51,3/8,008 523,533,E88 5,235,339 741 (10,018) 5,166,061 1,033,212
12 2018-17 646,517,500 51,�78,318 548,530,624 5,485,306 741 (l3,381) 5,412,6Efi 1,082,537
13 2017•18 672,410,600 51,60.5,069 574,522,414 5,745,714 741 (76,838) 5,669,127 1,133,925
14 201�19 699,33E,22, 51,734,082 601,549,051 6,015,491 741 (80,452) 5,935,719 1,187,156
15 2019-20 727,311,753 51,863,411 629,651,915 6,296,519 7�1 (84,211) 6,213,049 1,242,610
16 201Q21 15fi.<04,223 51,993,016 658.87,.04� 6.5a8.7+0 741 (88,119) fi,501,362 1,300,272
17 2021•22 786,660,392 52.123,058 689.260.196 6,892,60� 741 (92,183) 6,801.160 1,360,232
tE 2022•23 818,126,808 52,253,366 720,856,919 1,208.5fi9 741 (96.409) 7.112.901 1,422,580
19 2023-24 850,a51,8B0 52,364,000 753,712,625 7,537,126 741 (100,803) 7,137,064 1,487,413
20 2024-25 884.885,955 52,51�,960 787,871,660 7,878,771 741 (105,312) 7.774,145 1,554,829
21202r26 920.2E1.394 52.8/6,247 823,104,386 8.231,044 7�1 (110,123) 8,121,6fi1 1,624.934
22 2026�27 957,092,649 52,777,563 E60,347,257 8,603,413 741 (115,084) 8,489,1�9 1,697,830
23 2027-28 995,376,355 52,909,807 898,762,907 8,9�7,629 741 (120.202) 8,868,168 1,773,634
24 202&29 1,035,191,409 53,042,092 939,710,236 9,387,102 741 (125,545� 9,262,299 1,E52,460
25 202930 1,076,599,086 53,174,681 900,250.+98 9,602,50.5 741 (131.100) 9,612,145 1,934,429
26 2030-31 1,119,663,028 53,30I,62! 1,023,447,391 10,234,474 7!1 (136,878) 10,098,337 2,019,66T
27 2031J2 1,1fi4,449,550 53,14U,893 1,068,367,181 10,883,6T2 141 (142,885) 10,541,528 2,108,306
28 2032-33 1,211,021.532 53,574,495 1,115,078,712 11,150.788 741 (149.132) 11,002,396 2,200,479
29 2033-34 1,259.468,633 53.708,431 1,163,653,809 11,636,538 741 (155,629) 11,4a1,650 2,296,330
30 203135 1,309,847,378 53,842,70� 1.214,166,825 12.141,668 141 (162,38� 11,980,024 2.396.005
312035-36 1.362.241,273 53,977,309 1,266,695,327 12,6fi6.953 7�1 (169,410) 12,498,284 2,499,657
32 2036-37 1.416,730.924 54.112.�52 1,321.319,922 13,213,199 741 (176.715) 13.037,225 2.607,445
33 2037J8 1,473400,161 54,247,533 1,378,124,439 13,781,1M 741 (184,313) 13,591,673 2,119,535
34 203�39 1.532.336.168 54.383.152 1,437.196.064 14.371.96i 741 (192,213) 1�.180.489 2,836,098
35 2039�0 1.593.829,614 54,519,110 1,498,625.469 14,986,255 741 (200,429) 14,786,567 2,951,313
36 2039-40 1.657,37�,199 54,655,�07 1,562,506,951 15,625,070 711 (208,972) 15,416,838 3,083,368
31204011 1.723.fi69.791 54,792,046 1.628,938,582 16.289,386 141 (217,857) 16,072,270 3,214,45�
38 204142 1.792,616,583 54,929,026 1.698,022,354 16.980,224 741 (227,096) 16,753,868 3,350,774
TOTALS 41,163,627 2005-06 iaward 322.938.661 28,150 (4,319.034) 318,641,778 63.729.556
2,240,l37
2,362,935
2,582,922
2,764,896
3,097,861
3,253,99�0
3,416,a23
3,585,113
3,160,616
3,943,102
�,132,649
4,330,119
�,535,302
4,748,623
4,910,139
5,201,090
5,410,928
5,690,321
5,949,851
6,219,316
6,499,729
6.791.319
7,094,534
7.,08,839
7,137.716
8,07a,870
8,433�22
8,801,917
9,185,320
9,584,020
9,996,627
10.429.780
10,E78,138
11.344.391
».a2sz�
12,333.,10
12,857,816
13,403,094
254,918.222
�
�
P6402-0001 \837122v2.doc 12
Resolution No. 512
TABLE 4-B�
� PALM OESERT REDEVELOPMENT A(iENCY
PROJECT AitEA NO. 4
Tax Incnm�nt R�v�nu� Proj�cUoni
Fispi � ASSL�SSED VALUE 'Ectlm�Md Taz UnNary t:aunty Totat Tof+� Houdrq Tau. Inc.
Year Ssured Unsewisd ProJ�aW Net kiaement at U61Ny Adm4+ Fes Revenw Cumulafh� Fund elbr HousYip
Fo�casdd =aecatNo al N�w Inc�mental 1.0% Wrenw (SB 255� M�; ��a� Gross fax inc at 20% Dsbro
Gro+M� Q 0 25� Dev. Valus 1.3821% ro►enue Revenue TA Pymts
4.0% ncNwd�
TOTALPRpR II,A51,617 14,669 (670,019) 48,129,651 48.7y9,657 9.738,908
1 2005-01 1,107,111,M7 11,Iq,114 1,0�1,17f,233 10,71t,T12 i,f71 (142,NS) 10,17i,12{ 61,f07,7i� 2.03S,f23 i,142,501
2 200E07 1,671,475,174 11,913,493 1,096,196,149 10,861.964 1,977 (151,505� 10,812,�31 69,120,219 2,182,487 8,649,949
3 2001-08 1,738,334,181 11,943,277 1.173,670 1.184,258,910 11,642,589 1,977 (1fi0,912) 11,483.654 81,203.871 2,298,731 9,186.923
� 200&09 1,809,OE9,185 11,973.135 41,844,900 1,275,513,�2 12,755,1�0 1,977 (176,28E) 12,580,628 93,784.702 2.518,186 10,064,663
5 200�10 1,914,762,387 12,003,068 41,644,900 1,391,218,137 13,912,1d1 1,977 (192,280) 13.7P1,879 107,506,581 4,744,376 10.917,503
B 2014�t1 1,445,063,579 12,433,0T6 ti,�6B,904,437 14,699,941 5,977 (203,15� U,497,866 122,OD1,J�7 2,E99,573 11.598,293
1 2011-tY 2.1?6.866,122 12,083,159 1,551,737,062 15,517.311 1,9I1 (214.,65) 15,304,883 137,3pp,330 3,060,977 12,243,906
8 2012�13 2,211,940.761 12.093,316 1,636.841,a65 16,36E.�19 1.977 (226,22� 16,1N,168 153,453,498 3.128,93A 12,915.335
9 2013-14' 2,300,418,391 12.123,550 1,125,349,729 t7,253,497 1,977 (238,�Q0) 17,017,014 170.470,512 3,403,�03 13,613,611
10 2014-15 2,392,435,133 12,153,859 1,817,398,774 t8,173,968 1,971 (251,182) 17,924,763 188,395,275 3,584,953 14,339,810
11 201516 2,488,132,539 12,184,243 1,913,124,56/ 19,131,248 1,977 (284,412) 1E,E68,810 207,264,085 3,773,762 15.095.018
12 201617 2,587,657,840 12,214.764 2,012,880,326 20,1T6,803 1,977 (278,172) 19,E5(I,60E 7l7,114,693 3,970,122 15.880,487
13 2017•18 2,691,164,15t 12.2�5$41 2.116,217,176 21,tfi2,112 1,911 (292,4E2) 20,87t,667 247,986,360 4,174,333 16,697,334
1� 2018-19 2,19E,�10.720 12,275,854 2,223,dW,356 22,238,941 1,977 (307,364) 21,933,557 269,919,917 4,386,711 17,5�6,845
15 201�20 2,910,763,149 12,306,543 2,335,E71,474 23,355,775 1,97I (322,841) 23,037,911 2�2,�57,828 4,607,5E2 18,430,329
16 202f�21 3,027,193,675 12,337,310 2,452,338,766 24,523,3A8 1,9T7 (33E,937) 24,186,428 311,1M,256 4,837,286 19,319,142
17 2021-22 3,14a.281,/72 12.368,153 2,573,457,357 25.734,514 1,977 (355,67� 25.3EO,e74 342,525,129 5,078.175 20.304,699
18 2G22•23 3,274,212,619 12.39D,073 2,89➢,419,534 T8,�94,195 1,�77 (373.OE6j 26 623.086 369,t4E,2tfi 5,32�,61i 2t.298,469
�
tg 2023-24 3.405,iB1,t86 12,430,071 2,830,419,039 2E,304,190 1,971 (391,191) 27,914,978 397,063,191 5,582,995 2I,331,9Bt
20 2024-25 3,5l1,388,433 12,481.11E 2,966,557.381 29,6Q8,574 1,977 (410,021) 29,256,530 426,321,722 5,851,106 23,406.82�
21 202�26 3,683,043,970 12,492,29D 3,108,344,052 31,083,441 1,977 (129,603) 30,855,814 456,977,536 6,131,163 24,524,651
22 2026�27 3,�30,365,729 12,523,530 3,255,697,0�1 32,558,970 1,977 (449,969) 32,108,978 469,OE6,514 6,411.796 25,6A1,1E3 •
23 2027-28 3.983,580,358 12.554,839 3,�08,942.G79 34.089,430 1,977 (471,149) 33,820,258 b22,70d,712 E.724,052 28,89fi,206
2� 202�29 4,142,923,573 12,586226 3,56E,317,581 35,603,176 1,977 (493,t1E) 35,1G1,971 557,69E,749 7,038,395 28,153,5A1
25 2029-30 4,308,640.516 12.617,891 3,734,OQ5.9B9 37,340,6d0 1,977 (516,OM1) 36,826,553 594,725,302 7,365,311 29,/61,142
26 203Q31 4,4E0,986,136 12.649,236 3,906,443,154 39,084.432 1,977 (53D,90E) 35,526,500 p�,2i1�02 7,706,300 30,821,200
27 2031-32 4,660,425,582 12,880,859 4,OE5,714,222 40,E57,142 1,977 (564,685) 40,294,434 673,546,236 8,0.58,887 32,235,547
2E 2032•33 4,848,634.605 12,712.561 4,272.154,948 42,721.549 1,917 (590.453) 42,133.073 715,879,309 5,426,615 33.706.459
29 2033�34 5,040,499,989 12.744,542 4,486,052,113 4t,860,521 1,9T7 (617,252) 44,045,246 759,724,555 8,E09,049 35,236,197
30 2034-35 5,242.11p.9Q9 12.778,203 4,667.703,974 46.677,040 1,977 (645,122) 4E,033,8D5 E05.758,450 9,206,779 36,827,116
31 2035-36 5,451,A04,T88 12,dOQ,iM 4,877,4T0,71� 48,774,T07 1,D77 (674,10n 18,102,077 853,9AQ,527 Q,820,115 3A,481,662
32 203E31 5,689,E76,980 12,BW,164 5,095,524,926 50,955,249 1,977 (704,251) 50,252,975 904,113,502 10,050,595 40,202,380
33 2037-38 5,896,6T2,059 12,E72,264 5,322,352,105 53,223,521 1,977 p35,601) 52,166,997 Q56,803,400 10,491,979 11,991.918
31 203&39 6,132,538.941 12,904,445 5,558,251.169 55,582.512 1,077 (T68,204) 54,E16.284 1,011,419,664 10,963,257 43,853,028
35 2039-�0 6,377,840,499 12.936,706 5,803,584,9A7 58,035,A50 1,977 (802,11Y) 57,235,715 1,068,655,399 11.4�7,143 45,788.572
36 2040-41 a,632.954,119 12,969,048 6.058,730,949 60,5E7,30g 1,977 (837,375) 59,751,911 1,128.,07,310 11,950,382 47,A01,529
37 2pt1-12 &,898,272,284 13,001,471 6,32�,OB1,536 63,240,815 1,977 (E74,049) 62,368,743 1,190,776,053 12,4I3,749 49,894,994
38 2042-43 7,174,203,115 13,033,974 6,600,044,931 66,000,449 1,971 (912,190) 65,090,236 1,255,866,299 13.018,047 52,072,189
39 2043-�4 1.181.171.302 13,066,559 6,887,045,843 88,870,456 1,9T7 (961,95� 67,920,577 1,323,786.86b 13,584.115 5�,336,481
' Tohw 84,�83,�70 1.340,506,178 91,773 (18,538.�68) 1,323,186,866 264,750,2501,020.045,761�
P6402-0001\837122v2.doc 13
Resolution No. 512
4. The base year assessment roll for each of the Project Areas is identified in Table 4,
attached hereto. The first fiscal years shown on Table 4 through 2005-2006 are the actual tax �
increment revenue figures and are based on reports of the County Auditor-Controller. Base year
values aze adjusted by the County Auditor-Controller's Office from time to time. The base year
values identified aze the adjusted values per the most recent reports from the Auditor-Controller's
Office.
For purposes of this Report, all projections utilize the general levy of one percent. A one
percent rate levied on the projected incremental increase in assessed valuation of taxable property in
each of the Project Areas would produce the gross tax increment revenues shown on Table 4 for the
applicable Project Area.
The amounts of tax increment revenues to be set-aside into the Low and Moderate Income
Housing Fund of the Agency from each of the respective Project Areas are also shown on Table 4.
5. The Stipulation, as amended, provides that before December 31, 1992, 21 units were
to be available to and occupied by very low income households and 78 units were to be available to
and occupied by low income households. Under the terms of the Stipulation prior to its first
amendment in 1997, the Agency was to develop, acquire, rehabilitate or otherwise assist 366 very �
low income units, 3671ow income units and 367 moderate income units prior to I3ecember 31, 1995. .
At the time of the amendment of the Stipulation in 1997, the Agency had developed or acquired, or
caused to be developed or acquired, most of those units, and the 1997 amendment to the Stipulation
includes an extension of time relating to such development or acquisition to January 1, 2002, for the
very low and low income units, and to January 1, 2006 for the moderate income units. However, the
1997 amendment to the Stipulation also provides that before January 1, 2001, one-half of the units
which "remained" to be developed or acquired as of April l 5, 1997 under the original Stipulation
were to be developed or acquired before January 1, 2001. The "remaining units" as of April 15,
1997, were 96 very low income units (a total of 291 were being provided at that time), 2201ow
income units (a total of 225 were being provided at that time), and 245 moderate income units (a
total of 122 were being provided at that time). In lieu of the development or acquisition of the
remaining 245 moderate income units, the 1997 amendment to the Stipulation provides that the
Agency is to instead develop or acquire 49 very low income units prior to January 1, 2006.
Thus, under the 1997 amendment to the Stipulation, as of January 1, 2041, the Agency was to
have developed or acquired a total of 339 very low income units (the 291 being provided on April
15, 1997, plus 48 of the remaining units) and a total of 335 low income units (the 225 being provided --
P6402-0001 \857122v2.doc � 4
Resolution No. 512
on April 15, 1997, plus 110 of the remaining units). As of January 1, 2002, the Agency was to have
Y developed or acquired 366 very low income units (plus the 21 very low income units provided by
December 31, I992, for a total of 387 very Iow income units) and 367 tow income cuuts (plus the 78
low income units provided by December 31, 1992, for a total of 445 low income units). By January
1, 2006, the Agency is to have developed or acquired the 122 moderate income units (which were
already developed or acquired as of April 15, 1997), plus an additiona149 very low income units (49
very low income units being 20 percent of the "remaining" 245 moderate income units). The
Stipulation, as amended, also requires the Agency to commence development of 142 very low
income units and 601ow income units before December 31, 2003.
The Agency is providing the following rental housing units as of August 31, 2005 (based
upon the September, 2005 report of rental information provided to the Agency by RPM
Management), available at an affordable housing cost and occupied by persons and families at the
income levels so indicated:
Desert Point Apartments (64 units - 32 studio, 26 one-bedroom and six
two-bedroom)
30 very low income
`� 141ow income
20 moderate income
One Quail Place Apartments (384 units - 156 one-bedroom and 228
two-bedroom)
150 very low income
1541ow income
80 moderate income
Neighbors Apartments (24 units - all two-bedroom)
11 very low income
61ow income
7 moderate income
Taos Palms Apartments (16 units - all two-bedroom)
6 very low income
81ow income
2 moderate income
P6402-0001\857122v2.doc 15
Resolution No. 512
Las Serenas Apartments (150 units - all one-bedroom) -`
101 very low income
341ow income
15 moderate income
Pueblos Apartrnents (15 units - all studio)
12 very low income
3 moderate income
Catalina Gardens Apartments (72 units - 48 studio and 24 one-bedroom)
50 very low income
121ow income
10 moderate income
Santa Rosa Apartments (20 units - all two-bedroom)
20 very low income
Laguna Palms Apartrnents (48 units - studios, one and two-bedroom units) �
20 very low income .
20 low income
8 moderate income
California Villas (141 units - one-bedroom)
76 very low income
50 low income
15 moderate income
Country Village Apartments (66 units - all studios)
33 very low income �
33 low income
Hovely Gardens Apartments (162 units - 72 two-bedrooms, 72
three-bedroom and 18 four-bedroom)
73 very low income
891ow income --
P6402-0001\857122v2.doc 16
Resolution No. 512
Sevilla Apartments (103 units — one and two-bedroom units)
22 very low income
81 low income
Villas on the Green (15 units — three studio, ten one-bedroom, two two-
bedroom)
8 low income
7 moderate income
Candlewood Apartments (26 units - all one-bedroom)
13 very low income
13 low income
Pacific Assisted Living (two units - one-bedroom)
21ow income
Canterra Apart�nents (31 units — 12 one-bedroom, 17 two-bedroom and
two three-bedroom)
31 low income
River Run One (two units - studios)
1 low income
1 moderate
The report of RPM attached hereto as Atta.chment No. 3 provides a breakdown of the
subcategories of income levels of certain of the foregoing rental units.
With respect to the Candlewood Apartments described above, there are currently no
affordability restrictions on the project, but the owners accept Section 8 certificates. With respect to
the Hovely Gazdens Apartments and the Las Serenas Apartments, an aggregate total of 35 units are
replacement housing for a street-widening project.
With respect to Sevilla Apartments, Villas on the Crreen, Pacific Assisted Living, Canterra
Apartments and River Run One, only limited affordability restrictions have been placed on these
units as a part of agreements with developers of each project in exchange for increased density.
P6402-0001\857122v2.doc 1%
0
i , Resolution No. 512
The Agency is providing the following ownership housing units available at an affordable '
housing cost and occupied by the persons and families at the income levels so indicated:
Building Horizons (2 units - both three-bedroom)
21ow income
Coachella Valley Housing Coalition(11 units - all three-bedroom)
11 low income
Desert Rose (161 units - 123 three-bedroom and 38 four-bedroom)
26 very low income
103 low income
32 moderate income
Habitat for Humanity (6 units - all four-bedroom)
6 very low income
Rebecca Road (2 units - both three-bedroom)
21ow income
Portola Palms Mobilehome Park(141 units - number of bedroom not
available)
25 very low income
13 low income
San Marino Circle (one unit - two-bedrooms)
1 low income
Home Improvement Program (141 units)
78 very low income
491ow income
14 moderate income
0
The subcategories of income levels of the above-described ownership housing are set forth on
Attachment No. 4. ��
P6402-0001\857122v2.doc 1 g
tesolution No. 512
' To date, only limited af%rdability restrictions have been placed on the above-described
homes improved under the Home Improvement Program and three of the four Habitat for Humanity
Homes. Thus, the Agency is currently providing 619 very low income units (excludinq the above-
described very low income units at the Candlewood Apartments and the units improved under the
Home Improvement Program), 5371ow income units (excluding the low income units at the
Candlewood Apartments and the units improved under the Home Improvement Program), and 189
moderate income units (excluding the units improved under the Home Improvement Progtam).
In further meeting its obligations under the Stipulation, as amended, the Agency intends to
undertake all of the following:
A. The City owns a 20-acre site generally located on 42nd Avenue and Sheryl Street,
west of Cook Street. The design for development has an aggregate total of approximately l07 units
of very low, low and moderate income single family ownership housing and 27 senior rental housing.
The ownerstup housing is proposed to include 14 units of very low income, self-help housing and 93
single family units. Agency stafiexpects that the 93 single family units will be made available to
bath �aw ir��orrte a�� mr��erate incor�c t�ouseholds. The Agency has erttered into an agreement with
" Community Dynamics to construct the 27 senior rental units and the 93 single family units.
Conswction began in October of this yeaz. The Agency will solicit proposals from nonprofit
developers for the self-help housing.
B. A 36-unit apartiiient pro,ject on Santa Rosa Way lrnown as the Palm Village
Apartments is currently under construction. A1136 units will consist of two bedrooms, 18 of which
will be available to very low income households and 18 of which will be low income households.
C. Agency staff is currently negotiating with the owner of an existing 23-unit apartment
project located on Shadow Hills Drive. The units in the project consist of one and two bedrooms.
The project would consist of 23 low income units. The Agency expects to successfully conclude
negotiations by the end of this year.
D. Pursuant to a development agreement, the developers of Canterra Apartments on
Hovely Lane will provide an additional 31 low income units upon completion of the second phase of
the project. The 31 low income units in this second phase will consist of 12 one-bedroom units, 17
two-bedroom units and two three-bedroom units.
P6ao2-000i�ss�t2z�2.ao� 19
esolution No. 512
E. The Agency is currently negotiating with the owner of a 192-unit mobilehome park in
the City to ensure that the af%rdability of very low, low and moderate units is preserved in f
connection with a proposed condominium conversion. Preliminary estimates show approximately 35
percent of the mobilehome park to be very low, low or moderate income households.
F. The City has entered into a statutory development agreement with the Sares Regis
Group which provides for 64 moderate income apartment units. The units will consist of
19 one-bedroom, 39 two-bedroom and six three-bedroom units.
G. The City currently owns a three bedroom, single-family rental unit located on Goleta
Avenue. Upon the termination of the current rental agreement in January of 2006, the Agency wiil
acquire the residence from the City and sell it to a low income family with appropriate deed
restrictions.
H. The Agency has established an Acquisition Rehabilitation and Resale Program for
existing single family units that become available in the City. The Agency will, when feasible,
acquire single family units in need of rehabilitation and restrict the resale to very low, low and
moderate income households.
I. In order to assure that the Agency will meet the January 1, 2006 very low and low —
income units requirements (as well as its future construction need as forecasted in the Regional
Housing Needs Assessment of the Southern California Association of Governments), Agency staff
has directed its property manager to relet moderate income units through attrition as soon as possible
to low income households. At the end of the 2005-2006 fiscal year, Agency staff the unit makeup at
its various apartment projects to ensure that an economically diverse blend of tenants, so as not to
over concentrate any one income group at its lazger projects.
The Agency has established a Rental Subsidy Program. Under the terms of the Rental
Subsidy Program, owners of single family homes, condominiums, mobilehomes or multi-unit
apartment complexes who rent to persons and families of very low, low or moderate income may
receive direct rental payment assistance from the Agency. Owners must enter into a recorded
agreement with the Agency which provides that in exchange for the ongoing direct rental payment
assistance, the owner will ensure the affordability of the home, condominium, mobilehome or
apartment for the term required by law. Property owners and tenants will be notified of the Rental
Subsidy Program by several methods. In addition, the Agency will endeavor to identify all apartment
owners in the City and notify them of the program and invite their participation. The Agency will
publish notice of the Rental Subsidy Program in local newspapers, including a Spanish language �
P6402-0001 �857122v2.doc 2�
Resolution No. 512
newspaper, at least once a year. The Agency will also publish the same notice ai least once a year in
� the City's newsletter, Brit�htside, which is published monthly and which is sent by mail to every
resident in the City. Part of the Rental Subsidy Progam provides tenants with a direct opportunity to
select apartment projects whose owners will then cooperate with the Program.
The Agency has established a First-Time Homebuyers Program. The First-Time Homebuyers
Program provides financial assistance in the form of low interest loans to very low, low and
moderate income homebuyers. At least once per year, the Agency will publish notice of the
Homebuyers Program in local newspapers, including a Spanish language newspaper and in the City's
newslett�r, Bri¢htside.
Assuming the above-described projects stay on schedule and the Agency is successful in its
negotiations the Agency expects that the cumulative effect of the foregoing acquisitions together
with the above-described developments will result in an additiona168 very low ir�come units, 451ow
income units and 144 moderate income units being provided. The units which will be assisted at the
Indian Springs Mobilehome Park, and those which will receive assistance under the First Time
Homebuyers Program and the Rental Subsidy Progrsm will be in addition to the foregoing totals.
Thus, the Agency expects to comply with the provisions of the Stipulation with respect to developing
~ and acquiring the required number of units by January 1, 2006. Agency staff will continue to pursue
other acquisition and development opportunities for affordable housing.
6. The Stipulation, as amended, also pro+�ides that the Agency is to meet its existing and
future housing needs for vcry low, low and moderate income households over the life of the
Agency's Project Area No. 2. In the Housing Element of its General Plan, the City has included a
thorough identification of existing needs, established appropriate priorities reflective of those needs
and has included programs (including those described below) which will serve to ��'ess those
needs. The projected housing needs are identified through the regional housing needs assessment of
SCAG. As noted by the Department of Housing and Community Development of the State of
California and SCAG, existing need numbers are not used as construction targets, nor aze local
governments expected to solve their existing need. Nevertheless, as shown by the programs
discussed in this report, the Agency is aggressively seeking to address the City's existing need.
Consistent with SCAG directives and pronouncements, existing need is being used by the Agency to
demonstrate logical and consistent progratnming, goal setting and the allocation of resources.
Attachment No. 1 to this Report is the most recent forecast of SCAG of existing and future
(construction) needs of the City.
P6402-0001\857122v2.doc 21
Resolution No. 512
As noted above, to assist in its ef�'orts to meet the existing housing need as soon as
practicable, the Agency has established two separate housing payment assistance programs, the '
Rental Subsidy Program (attached as Exhibit AJ and [tte First-Time Hocnebuyers Program (attacttea
as Exhibit B).
The Agency has also established a Home lmprovement Program which is designed to address
issues relating to substandard housing in the City. Agency staff makes efforts to both identify
eligible homeowners and advertise the availability of the Home Improvement Program. Those
efforts will include all those described above in connection with the Rental Subsidy Program and the
First-Time Homebuyers Program, including publication of the notice. A component of the Home
Improvement Program includes acquisition, rehabilitation and resale of existing housing units that
may become available. The Agency will, when feasible, acquire single family units in need of
rehabilitation and restrict the resale to very low, low and moderate income households.
7. Attachment No. 2 to this Report is the operating cash revenue pro forma of the
Agency's Housing Fund, Attachment No. 2 identifies the total estimated costs of the Agency's
housing prograzns over time. It includes amounts necessary to subsidize housing available at
affordable costs to households at the more restrictive income levels for the applicable time periods
set forth in the Stipulation, as amended. Those income levels require that for housing units to be --
made available to very low-income households, at least one-half of the housing units must be .
affordable to households with 35 percent or less of inedian income. Of that 50 percent, at least one-
third must be affordable to and occupied by households with 25 percent, or less, of area median
income and at least 18 percent must be af%rdable to and occupi�ed by households with 20 percent, or
less, of azea median income. The remaining very low income units must be affozdable to households
with 45 percent or less of inedian income. Those income levels also require that for housing units to
be made availab�e to �ower income househo�ds, at ]easi one-ihird nf fhe housing units shall be
a8'ordable to households with 55 percent or less of inedian income, one-third to households with 65
percent or less of inedian income and the remainder to households with 75 percent or less of inedian
income. These income levels further require that for housing units to be made available to moderate-
income households, the units shall be at least affordable to moderate-income households who cannot
afford housing at market rates. The estunates set forth in Attachment No. 2 aze in turn based upon
the actual experience of the Agency. The analysis in Attachment No. 2 also takes into account the
costs of developing, maintaining and managing the housing units. It also identifies by year the
number of additionai affordabie very Iow, tow and moderate-�ousing units the Agency expects to
fund. Amounts necessary to pay annual debt service for prior indebtedness of the Low and Moderate
Income Housing Fund have been identified in the row labeled "Debt Service Pledge." --
P6402-0001 �857122v2.doc 22
Resolution No. 512
v Based upon the estimates and projections set forth in Attachment No. 2, the estimated total
amounts necessary to meet the obligations of the Agency to acquire, develop or rehabilitate housing
units for occupancy by households at the income levels specified above, as compared to amounts
available in the Low and Moderate Income Housing Fund to meet those obligations, aze detailed in
Attachment No. 2.
Attachment No. 2 also identifies debt service on bonds issued to fund the purchase and
construction of units within the Agency's housing stock and includes among other costs, the total
annual required payment for housing units for occupancy at the more restrictive income levels
specified in the Stipuladon, as amended (i.e., 20, 25, 35, 45, 55, 65 and 75 percent of inedian
income). Attachment No. 2 also provides the basis for the annual housing obligations. Attachment
No. 2 identifies a beginning Housing Fund balance of 531,467,793 and includes detailed estimates of
other income such as bond proceeds and investment earnings and operating income &om the
Agency-owned affordable housing, which is available monies of the Agency in the funding of the
Agency's housing programs.
Attachment I�io. 2 sets farth a psesent value ca�culation of the projecte� cost of the housing
`" requirements of the Stipulation, as amended, together with a present value calculation of the
projected available revenues &om the Agency's Housing Fund. As shown on Attachment No. 2,
&om both a cumulative total and present value standpoint, the Agency will have sufficient moneys
over the life of Project Area No. 2 to meet the housing requirements. Based upon the foregoing
analysis of past, current and projected future assessed values of taxable property in all Project Areas
of the City, the tax increment revenues set-aside into the Low and Moderate Income Housing Fund
of the Agency, as shown on Table 4 and Attachment No. 2, will be more than sufficient to meet the
obiigations oF the Agency under the Stipulation, as amended.
After making the required set-asides into the Housing Fund from tax increment revenues
allocated and paid to the Agency through fiscal year 2005-2006, and after deducting debt service
requirements on existing indebtedness and obligations to taxing agencies, the surplus (or excess)
revenues of the Agency for Project Area No. 1, As Amended and Project Area No. 2 aze shown on
Table 5 beginning on the following page.
P6402-0001\8S7122v2.doc 23
0
� Resolution No. 512 •
TABLE 5
PALM DESERT REDEVELOPMENT AGENCY
PROJECTED AVAILABLE TAXINCREMENT REVENUES
NET OF HOUSING SET-ASIDE ANO PASS THROUGH PAYMEN7S
PROJECT AREA N0.1 � AS AMENDED AND PROJECT AREA NO. Z
Fiscal Year Projected Net Annual Surplus Net Revenues
2005-06 Tax increment Revenue/1 Debt Service
Project Area No. 1-Original Territory 56,347,892.85
Project Area No. 1-Added Tert�itory 510,158,426.26
Total Project Area No. 1 516,508,319.10 59,273,826.25 s7,232,692.85
Project Area No. 2 ;5,801,118.84 52,265,633.75 s3,335,283.09
Fiscal Year
2006-07
Projed Area No. 1-Original 7erritory
Project Area No. 1-Added Territory
Total Project Area No. 1
Project Area No. 2
Fiscal Year
2007-08
Project Area No. 1-Original 7erritory
Project Area No. 1-Added Tertitory
Totel Project Area No. 1
Project Area No. 2
Fiscal Year
200&09
Project Area No. 1-Original Territory
Pro(ect Area No. f-Added T'erritory
Total Project Area No. 1
Projed Area No. 2
Fiscai Year
2009-10
Project Area No. 1-O�iginal Terrftory
Project Area No. 1-Added Territory
Total Project Area No. 1 �
Project Area No. 2
0
Projected Net
Tax Increment Revenue/1
;6,521,845.38
s10,563,028.56
517,084,873.94
55,767,057.68
Projected Net
Tax Increment Revenue/1
56,743,583.44
s 11,028,220.13
s17,769,803.57
s5,984,654.89
Projected Net
Tax Increment Revenue/1
58,936,229.97
si t,B38,28Q.7�
518,574,510.72
58,280,416.39
Projected Net
Tax Increment Revenue/1
57,133, 555.67
512,153,938.73
519,287,494.40
S6, 7Q8, 782.27
Annual
Debt Service
59,277,801.25
;2,185,045.00
Annual
Debt Service
59,276,081.25
52,189,598.25
Annual
Debt Service
59,274,871.25
52,191,031.25
Annual
Debt Service
59,275,621.25
52,189, 560.OQ
Surplus Net Revenues
s7,807,072.69
53,582,012.68
Surplus Net Revenues
s8,493,722.32
S3, 795,058.64
Surplus Net Revenues
59,299,639.47
s4,069,385.14
Surplus Net Revenues
510,011,873.15
s4.5i9,222.27
P6402-0001�857122v2.doc 24
esolution No. 512
The amounts of surplus described on Table 5 are projected through fiscal yeaz 2005-2006 because
` the Agency may incur long-term indebtedness, which is based upon the tax increment revenues as
anticipated in 2005-2006. For exampie, the Agency may issue long-term bonds and place a portion
of the proceeds in an escrow. The proceeds placed in the escrow would only be withdrawn by the
Agency in the future if the future tax increment revenues allocated to the Agency met the projections.
If the projections were not met, the tax increment revenues would not support the debt represented
by the proceeds of the bonds placed in the escrow, and those proceeds would then be used to cali and
redeem a like principal amount of bonds prior to their stated maturity date. Pending their withdrawal
from the escrow (either for the ptupose of expenditure by the Agency or for the purpose of call and
redemption of bonds) those proceeds would be invested at a rate of interest suf�`icient to pay interest
on the bonds from which the escrowed proceeds were derived.
The amounts of tax increment revenues described as surplus on Table 5 constitute "excess
tax increments" within the meaning of that term under paragraph 2 of the Stipulation, as amended,
and are not and will not be necessary to meet the housing requirements set forth in pazagraph 1.a, b
and c of the Stipulation, as amended, with respect to Project Areas Nos. 1 and 2, and are not and will
not be necessary to meet the housing requirements set forth in paragraph l.d with respect to Project
Area Na. 2. Long term obligations (including, without limitation, bonds, notes and other evidences
` of indebtedness) of the Agency to finance redevelopment activities unrelated to affordable housing
which are payable on an annual basis from such amounts, will consdtute "prior indebtedness" within
the meaning of that term under paragraph 2 of the Stipulation, as amended.
P6402-0001\857122v2.doc 2$
� Resolution No. 512 .
LIST OF ATTACHMENTS
ATTACI-IIV�NT NO. 1: Regions�l Housing Needs Assessment
ATTACHMENT NO. 2: Agency's Cash Revenue Housing Fund Pro forma — Number of
Units to be provided by Year
ATTACHMENT NO. 3: Income Level Subcategories for Rental Units and Ownership Units
EXHIBIT A:
EXHIBIT B:
RENTAL SUBSIDY PROGRAM
FIRST TIME HOMEBUYERS PROGRAM
�
P6402-0001�857122v2.doc 26
Resolution No. 512•
� '
' Ado ted Existin Need - AN {ncomes Housin
;CAG RHNA99 p g 9
— Problems Detail
Coachella Valley
PALM DESERT
{ncams Level (9�6 of
All R�ntKs
Houa�holds
Own�rs
' Tot�l
Hous�holds:
Hous�holds •
with any R���
Ptobl�ms
Own�rs
Total
Hous�holds:
Hous�holds
with R�nt�rs
Ov�rpaym�nt
Own�rs
Total
Hous�holds:
Nous�holds
with R���n
Ov�rcrowdln�
Own�rs
Totaf
Hous�holdr
Less than 30 to SO to 80 to Grsater Total
30'Ye 50'/(� 80•/. 96'1�• than 95%
�16 ' 718 1�2�t 501 2.�14 5,521
4�d STa �4Z 558 7,201 9,771
1,010 1.Zf4 Z.13t 1,137 9,81 S 15,292
4Z0 714 1�Oe4 360 46� 3,0�7
373 _ 4S0 477 227 1,423 , 2,950
793 1.1 d4 1�SiZ 586 t,e91 5,99T
3a� 71 �1 9�2 380 35e 2,80e
3T3 4Za 477 227 1,423 2,928
7S9 1,14Z 1�4� 589 1,7�0 5,738
0 92 147 9T 132 467
1• ZS 30 14 75 183
1a 11• 1T7 110 207 630
�
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ATTACF�IlviENT NO. 1
�
�
Adopted RHNA Construction Need (Nov.'00)
Jurisdictlon is
PALM DESERT
Drsit Constructlo� N��d (11IS9) .� 444
R�ductlon P�r Local R�vision R�qu�st L7 p
R�ductlon P�r App�al (s100) L7 p
R�dlstribut�d Units a� p
ADOPTED FINAL CONSTRUCTION NEEO � �4
County is
Riv�rsld�
FINAL ADOPTED NUMBERS BY INCOME
Incom� Catpory
�V�ry Low Incom• —�
low I�oom� —.�
Mod�rat� Incom• �
Abov� Mod�nt� Incom• �
roai �
o�.n �„ ���
77
d7
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Adopt�d (11100)
77
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as
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� � Resolution No. 512 ,
PALM DESERT REDEVELOPMENT AGENCY
RESTRICTED UNITS
Income Level (Y. of RNsrside G�nty Median for family of four) '�
RENTAL UNITS Ven Law Low Mod Totsl�
20 21-25 26-35 36-45 48-55 58-65 66-75 78-120 Units
HowlAp Authority
peseR Pointe (64) 2 7 15 6 3 4 7 20 64
One Quail Place (3B4) 9 11 62 68 78 59 17 80 384
Ne+phbors (24) 1 2 4 4 3 1 2 7 24
Calitomia vllas (141) 3 15 29 29 9 21 20 15 141
Lapuna Palms (48) 4 1 5 7 2 18 0 8 48
Teos Palms (16) 0 1 3 2 3 4 1 2 16
Las Serenas(150) 7 18 49 27 �7 5 12 15 150
PusGlos (15) 1 1 9 1 0 0 0 3 15
Catalina Gardens (72) 7 10 25 8 4 4 4 10 72
CountryVi�lape�68) �3 1a 6 17 8 8 66
0
HA Renfals Sub-tohil� 47 83 201 158 136 124 71 180 980
Howinp
Santa Rosa 5 7 1 7 20
portda Palms MHP 1 1
� Re�tal Sub-Eofal: 5 7 2 7 0 0 0 0 21
The appve units are owned by the llpency. With reapec.�t to developer provided units such as 5svilla, Canterta, �Ilas o� fhe Cireen, Candlewood, Pacific Assisted
Uv�nfl, and Rivc. Run One, they aro not induded in these totals but aro provided punuant to Developera Apreements rosMdinp aflordability.
FOR SALE UNITS
Desert Rose (161)
HaWtac for Humanity (6)
SeH-He�P i»1
Buildiny Haizons (2)
Rebeoca Hort►ss (2)
Patda Palms (37)
For Sale Sub-total:
Inoome Level (9'. of Rrveroide County AAedian for family of tour) •
VetV Low Low Mod Tofal-
<20 2045 26-35 36�0 41-45 4�50 b1-55 � 56-80 � 61-85 � 86-70 � 71-75 � 78-80 81-120 Unib
1 3 5 5 11 20 22 14 18 iB 13 31 161
t T 1 2 6
2 2 1 1 3 2 11
1 1 2
1 1 2
4 9 3 4 8 5 4 37
6 72 10 10 13 32 24 20 22 25 13 32 219
1
�
Resolution No. 512
EXHIBIT "A"
�
City of Palm Desert
PALM DESERT REDEVELOPMENT
AGENCY
Rental Subsidy Program
OVERVIEW
�
The creation of this Rent Subsidy Program was authorized by
the Agency Board to help those residents whose housing cost
exceeds the limits set by Redevelopment Law. This program wi(I
assist rent burdened households with the cost of rent up to
appropriately determined maximums. The Program wiii provide
assistance to very low or low income Qersons oc families by
subsidizing their monthly rent. This subsidy may be pad directly to
the landlord or apartment manager or to the tenant upon proof of
paymes�t o# cent. �
Selection Criteria
Age - To qualify as a"Senior" you must be 62 years or older. One point
given for every two-year increment over 62.
Income - 75% or less of area median income. One point for every 10%
below the income limit. (Income figures are provided by the U.S.
� Department of Housin� and Urban Development and updated annually.)
�
Resolution No. 512•
Farm Workers - Those employed in the agricultural industry as defined
in the Stipulation will receive any additional point.
Residency - One point given for every two years of Palm Desert
residency, up to a maximum of 15 points. However, Palm Desert
residency at the time of application is NOT required.
Rent-Burdened - If applicant's rent is 35% or more of income, one-half
point will be awarded for every 10% increment above 35%.
Paim Desert Government - Twenty points given if appficant was
displaced from previous unit through Palm Desert Redevelopment
Agency or City of Palm Desert action.
Disabled or Handicapped - Are Two and one-half points given if
applicant handicapped or disabled.
Occupancy - The Agency follows an occupancy standard adopted by
Resolution to protect against underutilization and overcrowding of units.
Waiting Period - One and one-half points given per year for every year
that the applicant's name is on the waiting list.
Real Property - An applicant may not own any real property,
Maximum Rent - the maximum amount that can be charged for rent by
an owner or apartment manager will be that which is determined under
the HtJD Sectron 8 standards for the appropriate unit size.
Rent Control - The Agency wilt follow all Federal, State and Local laws
or regulations relative to rent control.
Retroactivity - The program is not retroactive and will not commence
until the first of the month following the month in which the tenant has
been qualified for the program and a unit has been located and
approved by the A�ency.
a
�
Resolution No. 512
_ Frequentiy Asked Questions
How long is the wait after applying for the Subsidy Rent Program?
There is no way to gauge how long an applicant will be on the
waiting list. �
How does the Subsidy Program work?
�
The Palm Desert Redevelopment Agency is utilizing revenue
which it has designated for affordable housing to reduce the rent for
tenants in Palm Desert. Participating tenants can live in mobile home
parks, apartments, or legal rental units in Palm Desert. In each case, the
subsidy is paid directly to the landlord or manager, thus reducing the
tenant's rent by the subsidized amount. (Note: The Agency does NOT
locate rental units for applicants who wish to move. Tenants must find
available rental units on their own.)
Who is eligible for Palm Desert's Rental Subsidy Program?
Persons or families whose incomes are below 75% of area median
income. After the application is submitted, if qualified that applicant's
name is placed on a waiting list.
What is the selection criteria?
Each application for Palm Desert's Rental Subsidy Program is
evaluated based upon specified selection criteria (see below) and a
rating scale. An applicant's place on the waiting list depends upon
accumulated points.
What if I am currently participating in another rental assistance
program?
In case applicants are participating in other programs, the agency
will participate only to the extent the applicant's rent will be no less than
25% of their monthly income including utilities (utility allowances are
established by the Riverside County Housing Authority for the area).
Resolution No. 512
How long is the wait after appiying for the rent subsidy?
There is no way to gauge how long an applicant will be on the
waiting list.
How can I be sure that my name is kept on the waiting list?
On an annual basis, applicants are sent reapplication forms which
must be completed and returned to the Palm Desert Redevelopment
Agency. Returning the reapplication assures the applicant that his/her
name will remain on the waiting list if still qualified for the Program. The
reapplication provides staff with the most current information regarding
each applicant.
How does one apply for Palm Desert's Re�tal Subsidy Program?
An interested party must complete the application which is
contained in this brochure and forward it to the Palm Desert
Redevelopment Agency, 73-510 Fred Waring Drive, Palm Desert, CA
92260.
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Which number do I call if I have additional questions about the
Program?
Please calt the Palm Desert Redevelopment Agency at (760) 346-0611.
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Resolution No. 512
Rev. 0401905
DRAFT - FOR DISCUSSION ONLY
EXHIBIT "B"
�� Palm Desert Redevelopment Agency
FIRST TIME HOME BUYERS PROGRAM (FTHBP)
I. Guidelines
1. Proarom Ovenriew
The First Time Home Buyers Program (FTHBP) provides a deferred repayment loan of
up to $75,000 for low-to-moderate income first time homebuyers to purchase a single
family detached home in the City of Palm Desert. This Program is specifically designed
to provide qualified persons and families with down payment monies neoessary to
secure financing towards the purchase of a home. ,
To qualify for a FTHBP loan, both the participant and the property must satisfy spec�c
eligibility criteria.
2. Proaram Particivatlnp Partlas
• Palm Desert Redevelopment Agency
The Palm Desert Redevelopment Agency, a public agency operating in the
City of Palm Desert, funds the Program with its low and moderate income
- Housing Fund, to increase, improve, and preserve the community's supply
of affordable housing. The Agency serves as the Program AdFninistrator
but may contract with an outside administrator to assist with the
administration of the program.
The Agency provides a Pre-Qualfication Questionnaire and Checklist along
with Program information to interested participants.
• Program Administraior
The Program Administrator will oversee the Program and work closely with
qualified Lenders by � providing training in Program requirements,
underwriting criteria, and Program procedures. The Program Administrator
assists applicants with the Program guidelines and will provide information
regarding eligible Lenders who will provide detailed infoRnation on the loan
requirements.
• Participating Lender(a)
Only qualified Lenders approved by the Agency may participate in the
Program (See Lender section of guidelines).
rrr m n_...�..... � r......., i
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3. Eliqib/e Participanf
, �solution No. 512
Palm Desert FTHBP
Program Manual
Page 2 of 17
First Time Homebuyera: The Applicant cannot have had any ownership
interest in a residential dwelling unit (includes mobile homes regardless of
the land ownership by the Applicant) at any time within the three (3) years
preceding the application date for Pre-Qualification Checklist. This must be
verified by the Lender's examination of the Applicant's federal tax retums
for the preceding three (3) years to determine whether the borrower has
claimed a deduction for mortgage interest or taxes on a residence.
• Income Requirement: The Applicant's annual gross household income
must be within the following limits, which represent 120% of inedian
household income for the Riverside County anea as published by the
Department of Housing and Urban Development (HUD). These income
limits change slightly from year to year and will be published by the Palm
Desert Redevelopment Agency.
Maximum Gross Household Income
2004
Very Low
1 person 519,000
2 person s21,725
3 person 524,425
4 peraon 527,150
5 peraon 529,325
6 parson s31,500
7 person i33,875
8 peraon s35,850
Lower
s30,400
s34,780
s38,080
s43,440
546,920
s50,400
553,880
;57,360
Modarate
;45,600
s52,140
558,820
565,180
;70,380
576,800
=80,820
586,040
• Applicant Asseta: The Applicant's assets will be utilized in determining
household income as provided for under Califomia law.
The Applicant's assets may not exceed $50,000, except as provided by
California law.
• Affordability Requirements: Applicants must meet established, affordable
housing requirements for Low or Moderate Income Households, as defined
by California Health and Safety Code Section 50093. "Affordable Housing
Cost" is defined as the maximum amount of gross monthly household
income that can be used for the cost of housing, which includes the monthly
mortgage payment, property taxes, insurance, and homeowners
association fees.
This calculation wiN be made by the Lender and varies depending on actual
annual household income and the home selected for purchase; however,
the cost of housing may not exceed 30% of gross household income,
including principal, interest, taxes, and insurance.
73-510 Fred Waring Drive, Palm Desert, Califomia 92260 ❖(760) 346-0611 :• Fax (760) 341�372
FTHB Program Manual
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4. Eliaible Provertv
esoluCion No. 512
Palm Desert FTHBP
Program Manual
Page 3 ot 17
Must be a single family stick-built 1, 2, 3 or 4 bedroom dwelling unit located in the City
of Palm Desert with a life expectancy of at least the term of the affordability restriction
described in Section 11 below. Mobile homes may be considened only in the case
where the land is also owned by Applicant (both the land and the mobile home will be
encumbered as a part of the program).
5. Purchase Price
The maximum purchase price of an eligibte home is $295,000 increased annually on
July 1 st by the percentage difference in the Median Income as set by HUD for Riverside
County. �
6. Maximum Loan Amount
The maximum Program loan amount is $75,000 increased annually on July 1'� by the
same respective percentage as the maximum purchase price is increased. Any costs
financed as part of the FTHBP loan must be included in the maximum loan amount. In
addition, the Participating Lender will provide the� applicant with a Good Faith Estimate
of all charges when the applicant is pre�ualfied. The FTHBP loan may be used in the
form of a down payment and/or for closing costs.
T. Occupancv �
The applicant must certify that the home will be the household's principal residence and
that its occupancy will remain in compliance with the Agency's Occupancy Standards
adopted as Resolution No. 484 on October 23, 2003.
8. Mfn/mum Down Pavment Reaulrements
The Applicant cnust contribute a minimum of three percent (3%) of the purchase price
toward down payment and/or closing costs. Gift funds may only be ased as allowed by
the first Lender.
9. Particlnatlon Prioriltv
Applications will be accepted on a first come, first served basis. In the event that the
Agency receives more applications than funds are available, the following order of
priority will be applied:
1. Applicants currently living in unsanitary, unsafe, or unheafthful condition;
2. Applicants currently living in an overcrowded condition;
3. Applicants currently paying over 30% of household income in total housing
cost;
- 4. Those with the most suitable family size for the dwelling unit proposed to
be purchased;
73-510 Fred Waring Drive, Palm Desert, Celifomia 92260 ❖(760) 348-0611 ❖ Fax (760) 341-8372
FTHB Progcam Menual
�
Resol�• '.on No. 512
Palm Desert FTHBP
Program Manual
Page 4 of 17
5. Palm Desert residents;
6. Those with employment in Palm Desert;
7. Those with family in Palm Desert; and
8. Others.
10. Propertv purchase aQr�eement must utJlize current Purichase and Sa/e
AQneement i�rms ss acce�ted by the nepartment of Real' Estai�e and
include conditions reqardmc� tl`�e proqram and !he documents ►�eauired
therein.
11. Propertv Use. Occupancv and Tax Payments
Maintenance%riminai activity covenants require the participant to maintain the Property
and the improvements in good condition, free from gang or drug-related activities or
from other felonious criminal activity or public nuisance and in accordance with the Palm
Desert Municipal Code. These covenants are in effect for the term of the Program loan.
The Participant must maintain, during the term of the Agency loan, an all-risk prope►ty
insurance policy insuring the Property in an amount equal to the full replacement value
of the structure on the Property. The Participant will be required to make timely
payment of property taxes. Agency will encourage Participants and Lenders to
establish escrow impound accounts to pay real estate taxes and insurance premiums.
The Property must be used as Participant's principal residence and for no other purpose -
except as expressly approved by the Agency in accordance with the Palm Desert
Municipal Code. Participant shall not enter into an agreement for the rental or lease of :
all or any portion of the Property.
12. Resa/e of the Proaertv
The Property needs to remain "affordable" for a period of forty-five (45) years, beginning
on the date the Participant's Deed of Trust is recorded with the County Recorder's
Office and ending on the forty-fifth (45�h) anniversary thereof. A Unit Regulatory and
Lien Agreement shall be recorded against the Property for that time period to enforce
the affordability requirement.
During the "affordable period", if the Property is sold by Participant to a buyer
determined by the Agency to be an eligible Program participant at an Affordable
Housing Cost, then, upon the sale, the Participant will not pay the Equity Share
described below, but will pay the Agency the remaining principal balance due.
After the affordable period, the Property may be sold to any buyer at any price, but if the
Property is sold to a buyer not qualified for the Program or at a sales price that exceeds
Affordable Housing Cost, upon the sale the Participant still must pay to the Agency the
Equity Share in addition to the principal amount of the Agency loan.
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73-510 Fred Waring Drive, Palm Desert, Califomia 92260 ❖(760) 346-0611 ❖ Fax (760) 341-6372
FTHB Program Manual
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� :tesolution No. 512
Palm Desart FTHBP
ProBram Manual
Page 5 ot 17
- Equity is defined as the dollar amount that oonstitutes the difference between the sales
price of the Property and the sum of the following amounts:
a} The principal and interest due on the "First" note and Trust Deed with
the "First Lender�.
b) The principal on the Note and Trust Deed in favor of the Agency.
c) All costs of the sale, including costs of broker's commissions, escrow
fees, titfe costs and recording fees, etc.
d) Current year taxes — prorated to the close of escrow.
e) The borrower's down payment and all principal reductions made by the
borrower.
fl . Any "Qualified Capital Improvements".
The Equity Share is the amount equal to a percentage share of the appreciation in the
value of the Property determined by multiplying a percentage factor (the "Applicable
Facto�") by the difference befinreen the sales price and the purchase price, provided that
the Equity Share does not exceed an amount permitted under the law for a shared
appreciation loan. The Applicable Factor is calculated by dividing the amount of the
Agency loan by the Purchase Price. For example, if the Agency loan is a15,000 and the
Purchase Price equals �150,000, the Applicable Factor equals 10%. The Equity Share
would then equal:
- 10% x(Sales Price -$150,000 'Purchase Price') = Equity Share
13. Repavment Terms
The Program loan is a second position loan secured by a deed of trust. There are no
monthly payments until the first loan is paid off. At such time as the First Lien in favor of
the original First Lender is paid in full, fully amortized payments over the remainder of
the 45-year term of principal and inte�est will be due to the Age�cy on the first day of the
second month following the date of the final payment on the First Lien was due.
However, in the event the First Lien was refinanced extendi�g the term of the First Lien
past its original maturity date, the first payment due date would not change. In the
event the term of the refinanced lien is shortened, then the first payment would be due
on the first day of the second month following the date of the final payment on the First
Lien was due. All monthly payments combined may not exceed the Affordable Housing
Cost established by state law. In the event that the combined payments exceed the
Affordable Housing Cost, the� the Agency's payment will be reduced by the amount that
exceeds the Affordable Housing Cost. Any remaining amounts due to the Agency at the
end of the term will then be due and payable.
The loan and all other applicable payments will become due and be immediately
payable in full upon the occurrence of any one of the following "Events of Acceleration":
■ Sale or transfer of the Property without prior written Agency approval;
. 73-510 Fred Wa�ing Drive, Palm Desert, Celffomia 92280 t• (760) 348-0811 �• Fax (780) 341-8372
FTHB Program Menual
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Resolution No. 512
Palm Desert FTHBP
Prog�am Manua!
Page 6 of 17
• Refinance of the first trust deed for a loan amount more than the original principal ''
balance of the first mortgage being refinanced; or
■ Refinance without the prior written approval from the Agency;
The Aqencv will not suborolinate its deed of trust to a new first deed of irust
that has a variab/e Interest rate, an interest rate qr�eater than the oriQlnal
first mort�►age, a maturitv date bevond the mafuritv date of the oria/nal �rst
mortqaqe (unless the covenani is extended for the same number of vears
as the new first /oan extends Qast the oriq/nal flrst /oan maturitvl or anv
neQative amortization assoclated with !� and wlll not subord/nate below
second position.
In the event that the Agency loan becomes due and payable prior to the forty-fifth (45tn)
anniversary of the date that the Trust Deed is recorded with the County Recorder, the
Participant must pay the Agency the principal amount of the Agency loan. In the event
the Property is sold to a buyer not qual�ed for the Agency Program, the Participant
must pay the Agency the principal on the Loan plus the Equity Share (see Section 11:
Resale of the Property).
Strict penalties may be imposed on any applicant making a material misstatement,
misrepresentation, or fraudulent act on documents submitted to obtain a Program loan.
Any person making a negligent material misstatement or misrepresentation in any
affidavit or certification made in connection with the application for, or the issuance of a --
Program loan, shall be subject to all applicable fines and penalties.
14. Subordinate Liens
Subordinate liens wiN not be allowed for any reason unless approved in writing by the
Agency in its sole and absolute discretion prior to securing such loan and only for the
purpose of qualified home improvements.
15. Account Information
To obtain a current account balance or a payoff amount, homeowners must contact the
Agency's Program Administrator for information.
16. Apprvved Lenders
Only qualified Lenders approved by the Agency may participate in the Program. They
are as follows:
17. Compatlb/e First MortaaQes
The First Time Home Buyers Program may be used with conventional and FHA fixed-
rate loans. The Lender will process the undertying mortgages using standard
underwriting procedures, taking into account the value of the Program in qualifying
�
73-510 Fred Waring Drive, Palm Desert, Califomia 92260 •: (760) 346-0611 •:• Fax (760) 341-8372
F'THB Progrem Manual
Resolution No. 512
Palm D�sert FT'HBP
Program Manual
Pags 7 of 1 T
� applicants. The Lender is expected to maximize the amount of its loan to ensure
Participant's housing cost is no more than 30% of gross household income.
II. Procedures
The Program's loan processing procedures are designed to coincide with the standard
mortgage loan processing and underwriting procedures at most mortgage lending
institutions.
Step 1: Pre-Qualiflcation Questionnaire and Required Documentation
Applicant submits to the Agency a completed and signed Pre-qual�cation
Questionnaire and the documentation required to determine the eligibility of Program
participation.
The documentation required to determine eligibility in the program shall include:
- At least two years tax netums or equivalent
- Identification (driver's license, picture identification, proof of citizenship or
legal residency
- Social Security cards for all household members
- W-2's for the last two years, pay stubs or other form of notification of all
_ household income
- Other such documentation as may be required to substantiate household
income or any other oonditions under which eligibility must be verified.
Step 2: Information Packa�e
If the Agency determines Applicant qual�es, the Agency sends the Applicant an
lnformation Package. The Agency's package contains the following items:
• Program Manual
• Approved Lenders List
Stea 3: Participant Preaualiflcatlon Loan Aparoval From An AaJencv Aaaroved
Lender
Applicant contacts a qualified lender from the Approved Lenders List to obtain
prequalification approval. Lender deteRnines if applicant is eligible for the Program loan
approval based on pretiminary indications of income, purchase price, prior home
ownership, and other Program eligibility factors.
Stea 4: Property Identification
Applicant locates a potential property for purchase and enters into a purchase
-, agreement. Agency will not reimburse fees or commissions of real estate professionals
or realtors, however, it is strongly recommended that both buyer and seller be
73-510 Fred Waring Drive, Palm Desert, Califomia 92280 �• (760) 346-0811 ❖ Fax (780) 341-6372
FTHB Program Manual
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Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 8 oi 17
represented by a real estate professional licensed in the State of California. Said r
commissions and fees will be allocated and paid through escrow as is customary in
Riverside County. -
Step 5: Real Estate Purchase Contract
Real estate purchase contract completed between buyer and seller noting affordable
restrictions as required.
Step 6. Formal Loan Approval From An Apency Approved Lender
Applicant formally applies to an Agency approved lender for a mortgage loan for the
purchase of the home.
Steu 7: Request of Propram CommitmenUReservation
If applicant pre-qualifies for a primary loan, the Pa�ticipant will agree to release any
documentation provided by Participant to Primary lender for purposes of securing said
loan. Lender then submits a Request of Program CommitmenU Reservation package to
the Agency's Program Administrator. The package is to include the following:
• Lender's Application (FNMA 1003)
• Good Faith Estimate
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• Purchase Agreement signed by both buyer and seller
• Escrow instructions, certified copies, Preliminary Title Report •
• Applicant Affidavit
• Lead-Based Paint Hazards Not�cation Statement (if applicable)
The Applicant Affidavit contains all of the certifications and acknowledgements required
by the Program, some of which are:
• Certification that the residence will be used as the ApplicanYs Principal
Residence and that the Applicant must notify the Agency/Lender when the
home ceases being the Principal Residence.
• Cert�cation that the Applicant has not had an ownership interest in a residence
during the preceding three (3) year period.
• Certification that this is a new mortgage loan.
• Certification of household income of all adults intending to occupy the property.
• Acknowledgement that the Program loan cannot be transferred.
• Acknowledgement that any material misstatement of fraud is made under
penalty of pe�jury.
Step 8: Formal Apencv Auoroval
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73-510 Fred Wariny Drive, Palm Desert, Calffomia 92280 ❖(760) 348-0811 :• Fax (760) 341�372
FCHB Program Manual
Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 9 of 17
w The Agency's Program Administrator reviews the Request of Program Commitment/
Reservation package submitted by the lender. if the package meets Agency
requirements, the Agency's Program Administrator initiates one of the following options:
• Issues a"Commitment/Reservation Approved Letter� to lender;
• Provides a"Additional Information Needed Letter"; or
• Provides a"Denial Letter" including reasons for denial.
As a part of purchase, the Property must be inspecbed and its condition
approved by the buyer. Any serious code violations or other health and
safety deficiencies reportsd by inspector must be corrected aa a condition
precedent to funding a Program loan.
Step 9: Underwritinp of First Mortqas�e
When the lender submits the loan package to its underwriter, it must also send copies of
the following to the Agency's Program Administrator:
Appraisal
Lenders Underwriting Worksheet and/or Approval Memorandum Credit Report
Two (2) years signed and compteted tax retums
1All appropriate verifications including but not limited to:
• Bank statements as required by Lender for all sources of funds
• Pay stubs, W2's
• Gift Letters where applicable
• Explanation of derogatory credit
• MCAW or 1008
• Statement of Household Composition, including Name, Age, and Relationship
fo� everyone who wiU occupy the home
Stea 10: Underwritin op f As�encv Loan
Once the Agency receives the Loan Package described in Step 8 from Lender, the
Agency will review for completeness. Agency will submit a"Missing Items Checklist" to
Lender if any documents are not included. Loan underwriting is suspended until
missing items are received. Administrator reviews the documentation for the Program
loan and sends a Final Loan Recommendation (FLR) to Participant and a copy to the
Lender. The FLR includes one of the following:
• Approval of the Program Request for Assistance which authorizes the Agency
to draw documents and proceed through funding; or
_ • Denial of the Program Request for Assistance.
Stea 11: Execution of Loan Documents 8� Fund Disbur�ement
73-510 Fred Wa�ing Drive, Palm Desart, Calffomia 92280 ❖(780) 346-0811 ❖ Fax (760) 341�372
FTHB Progrem Menunl
�
Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 10 of 17
Upon receipt of an approved FLR and Authorization for Payment, Program
Administrator will send the following to the designated escrow:
• Agency Executed Escrow Instructions.
• Loan Agreement for Participant to execute through escrow.
• Promissory Note for Participant to execute through escrow.
• Deed of Trust for Participant to execute through escrow.
• Unit Regulatory and Lien Agreement for Participant to execute through
escrow.
• Other documents as required by Agency for Participant to execute through
escrow.
Steu 12: Escrow Process and Closinq
The escrow company assists Applicant to execute both Lender and the Program
documents. Upon execution of loan documents, escrow will contact the Agency's
Program Administrator to order funds. (The Agency needs a set of all executed
documents.)
�
Upon receipt of funds, the escrow company will effect completion of the transaction and
loan closing (escrow closes and documents record).
County Recorder's Office sends the recorded loan documents to the Agency. �
Step 13: Loan Servicinq .�
The Program Administrator will service the Program loan as follows:
• Review title changes which may constitute an event of default;
• Payoff quotation if property is refinanced or sold;
• Reconvey if loan is paid-off; and
• Monitor other requirements per contract.
III. Lender Section
The Palm Desert Redevelopment Agency maintains a list of approved Lenders for this
Program. Only �approved Lenders may participate in this program. This section
contains information specifically for Participating Lenders. Approved Lenders must
agree to participate in accordance with the Participant, Lender and Program guidelines.
1. Coordinate with Provram Administrator
Participating Lenders will coordinate the Program requirements with the Agency
according to Program Procedures. Program Procedures are designed to coincide with
standard mortgage loan processing and underwriting procedures that are in place at _
most mortgage lending institutions. Recognizing there are procedural variations among
73-510 Fred Waring Drive, Palm Desert, Cal'rfomia 92260 •: (760) 348-0611 ❖ Fax (760) 341-6372
FTNB Program Manual
�
Resolution No. 512
Palm Desert FTHBP
Program Msnual
Page 11 of 17
� the Participating Lenders, the procedures outlined here are meant to serve as
guidelines with respect to the sequenoe of events. However, since time frames are
limited, it is recommended that Participating Lenders
effectuate a timely and successful close of escrow in
Contract.
2, Pre-Qualiflcadon of Aaplicant
work closely with Agency to
accordance with the Purchase
Conventional underwriting standards will be modified to
assistance in determining housing expense and indebtedness
associated with the Program loan, charged by the Program
included in costs contained in the Good Faith Estimate.
3. Afildav/ts and Cert�catlona
recognize the Program
ratios. In addition, fees
Administrator, must be
Applicant and Participating Lende� must complete and sig� the appropriate Program
documents and attest to their validity. The Lender will be required to submit
certifications which will state that to the best of the Lender's knowledge, material
misstatements do not appear in the application and program �iocuments. If the Lender
becomes aware of misstatements, whether negligently or willfully made, it must notify
the Agency and the Program Administrator immediately. The Agency will take all
�ppropriate actions to enforce Program requirements.
� The Lender should also be aware and inform the Applicant that penatties are provided
by Federal and Califomia law if a person makes a false statement or misrepresentation
to participate in this Program.
4. Verif/catlons
The Lender shall verify that the Applicant, the home, and the mortgage transaction
comply with the Program restrictions. In conjunction with the Lender's standard
verification process and under its agreement with the Agency, the Lender perForms a
reasonable investigation to verify that all Program requirements have beeh satisfied.
Lender may verify these facts in any reasonable, efficient manner, according to
investor/govemment guidelines for processing mortgage loan applications.
5. Provram Charaea and Fees
The Lender may, at its option, charge each Applicant a non-refundable apptication fee
of up to $50.00 for processing each Program {oan. The Lender may also charge
reasonable and customary fees as would be charged to a potential borrower applying
for a mortgage not to exceed 1.5% of the 1't loan amount, including, but not limited to
points, origination fees, underwriting fees, etc. These fees are exclusive of title, escrow
charges, and mortgage insurance premiums. Lender fees in excess of 1.5% must be
�pproved in writing by the Program Administrator prior to Agency's loan approval being
granted by Lender.
73-510 Fred Waring Driva, Palm Desert, CaUfomia 92280 ❖(780) 348-0611 ❖ Fax (760) 341-8372
FTHB Program Menual
Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 12 of 17
6. AQplicant EliQibilitv Reauirements
A. Prior Home Ownerahip: The Applicant may not have held an ownership
interest in a residential dwelling unit within the past three (3) years (includes
mobile homes regardless of land ownership by the participant). This must be
verified by the Lender's examination of the Applicant's federal tax returns for
the preceding three (3). This examination will determine whether the
Applicant has claimed a deduction for mortgage interest or taxes on a
residence, within the last three years.
To demonstrate compliance within this three year requirement, the Applicant
must complete and sign the Program Affidavit and provide copies of its last
three years signed federal tax returns, or one of the following alternatives:
• If the Applicant has filed the sho�t form 1040A or 1040EZ for the last three (3)
years, completes and signs the required affidavits, but is unable to produce
the signed returns, the Lender will accept a letter from the IRS, or authorized
IRS Servicing Agent verifying the filing status of the Applicant. The letter
should confinn that the Applicant filed the 1040A or 1040EZ for the years in
question.
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• If the Applicant filed the 1040 Long Form and cannot produce an original copy
of the signed tax retums, the Lender will accept a letter [saying what?] from `
the IRS or authorized IRS Servicing Agent. A 4506 audit will be performed for .
years in question by third party IRS Service �gent. [?] �
In the event the Applicant was not obligated to file federal income tax retums
for any of the preceding three years, it will be necessary for the Lender to
obtain from the Applicant a completed and signed Income Tax Affldavit which
is required in place of the above options, along with the other Program
Affidavits. The Income Tax Affidavit must be supported with documented
proof of the reason for not filing taxes. Affidavit must also be supported by
documented proof that the Applicant was a renter during the spec�ed period
(i.e., notarized letter from landlord or manager, canceled checks, or rent
receipts).
• When a Program application is submitted during the period between January
1 and April 15 and the Applicant has not yet filed a federal tax retum for the
preceding year with the IRS, the Lender may rely on an affidavit of the
Applicant. The affidavit will report that the Applicant was not entitled to claim
deductions for taxes or interest, on indebtedness, with respect to property
constituting a residence for the preceding calendar year. The affidavit must
be forwarded to the Agency with the Request of Program
Commitment/Reservation package.
73-510 Fred Waring Drive, Palm Desert, Califomia 92260 ❖(780) 346-0611 :• Fax (760) 341-6372
FTHB Program Manual
�
Resolution No. 512
Paln� Desert FTHBP
Program Manual
Page 13 ot 17
~ If the tax retums indicate the Applicant took a deduction for mortgage interest
or real estate taxes on property, Appficant must provide proof that the
mo�tgage interest deduction or real estate taxes were related to property that
does not cvntain a residential dwelling unit. Said property will be considered
an asset and used to determine income as provided in Section 3 of the
Guidelines.
• In the event the signed tax retums do show a deduction for interest or taxes
on a Principal Residence, or in the event the signed tax returns are not
obtained; the Agency will not issue the Program loen because the Applicant
does �ot qualify foc this Pcogcam.
B. Occupancy; The Program Applicant must occupy the acquired residential
house as a"Principal Residence". The Lender must obtain from the
Applicant, a program affidavit that states the Applicant's intent to use the
residence as P�iRci�al Residence. This affidavit further states that the
Applicant will notify the Agency if the residence ceases to be the Principal
Residence.
C. Affordability Requirementa: Applicants must meet established affordable
housing cost requirements as defined by Califomia Redevetopment Law.
"Affordable Housing Cost" is defined as the maximum amount of gross
� monthly household income that can be used for the cost of housing, which
includes the monthly mortgage payment, property taxes, insuran�e, and
homeowners association fees. Lender is responsible for determining that all
Applicants meet the affordability standa�ds, and the Program Administcator
will review and confirm compliance.
The calculation of the Affordable Housing Cost will be made .by the Lender
and varies depending on actual annual household income and the home
selected for purchase; however, the cost of housing may not exceed 30% of
gross household income.
D. Income Limits: The Applicant's annual household income must be less than
the foHowing {imits, which represent 120% of inedian household income from
the Riverside area published by the Department of Housing and Urban
Development (HUD). These income limits change slightly from year-to-year
and will be published by the City of Palm Desert. [Sectlon 3 s�ys Agency
will do this.]
Maximum Annual Gross Income
2004
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FT�iB Program Manual
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Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 14 of 17
1 person
2 person
3 person
4 person
5 person
6 person
7 person
S person
Very Low
$19,000
$21,725
$24,425
327,150
�29, 325
$31,500
333,675
335,850
Lower
�30,400
�34,760
�39,080
343,440
�46,920
s50,400
$53,880
�57,360
Moderate
345,600
352,140
$58,fi20
�65,160
$70, 380
$75,600
$80,820
586,040
The following definition of Gross Income must be used when calculating income limits
for a Program loan:
1. In calculating gross income, all payments from all sources received by the
Applicant and each additional member of the household who is not a
minor and who share the same dwelling unit or share in the ownership of
the unit, whether in cash or in kind, shall be considered pursuant to
Section 6914 of the California Code of Regulations and as generally set
forth below:
a. The gross amount, before any payroll deductions, of wages and
salaries, overtime pay, commissions, fees, tips and bonuses, and
other compensation for personal services (provided th�y are
normal and consiatent income of the Appltcant?];
b. The net income from operation of a business or profession, or from
rental of personal property. In accordance with Section 3 of the
Program Guidelines, Ownership in real property [residential or
commercial, disqualifies Applicant from this program] [something is
missing];
c. Interest and dividends;
d. The full amount of periodic payments received from social security,
annuities, insurance policies, retirement funds, pensions, disability
or death benefits, and other similarity types of periodic receipts;
e. Payment instead of earnings, such as unemployment and disability
compensation, worker's compensation, and severance pay, subject
to 2c, below. NOTE: Such payments may be excluded by the
lending institution providing the first mort�age for purposes of
underwriting, but shall be included in eligibility determinations for the
Program;
f. Periodic and determinable allowances, such as alimony and child
support payments, any regular contributions or gifts received from
persons not residing in the dwelling;
�
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FTHB Progrtun Msnual
Resolution No. 512
Palm Desert FTHBP
Program Manual
Page 15 of 17
` g. All regular pay, special pay, and allowances of a member of the
Armed Forces (whether or not living in the dwelling) who is head of
the family, spouse, or other person whose dependents are residing
in the unit subject to 2c below;
h. Public assistance;
Any earned income tax credit to the extent it exceeds income tax
liability; and
Any other income that must be reported for federal and state income
tax purposes. '
All other income and assets will be allocated in the computation of household income
pursuant to the California Code.
2. The following shall not be considered as income:
a. Casual, sporadic, or irregular gifts;
b. Amounts that are specfically for, or in reimbursement of, the cost of
medical expenses;
c. Lump-sum additions to famify assets, such as inheritances,
_ insurance payments (including payments under heatth and accident
insurance and woricers compensation), capital gains, and settlement
for personai or property losses;
d. Amounts of educational scholarships paid directly to the student or
to the educational institution, and amounts paid by the govemment
to veterans for use in meeting the costs of tuition, fees, books, and
equipment;
e. Specia{ pay to a serviceman head of household away from home
and exposed to hostile fire;
Relocation payments;
g. Foster childcare payments; and
h. Amounts specficaUy excluded by any federal or state statute from
consideration as income.
7. Material Chanqes
If an Applicant has a pending application and changes the Property to be purchased,
the Lender must submit a new Request of Program CommitmenUReservation package
to the Agency indicating that the new package replaces any prior request. The Agency
will issue a revised Commitment/Reservation Approva{ Letter.
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FTHB Progrem Manual
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8. Re-Submissions of Retumed or Re�ected Applications
If a Program application has been retumed or denied by the Administrator or Agency,
any resubmission for reason other than a disqualification of Applicant must include all
information as required by a new submission and will be processed on that basis.
9. Chanqes Prior to Closinq
The eligibility of Applicant for a Program loan is based upon the Applicant's current
income. The Program will issue the Commitment based on factors as they are verified
as of the date the Commitment is issued. The income verified for Commitment is valid
as long as the loan closes within a reasonable amount of time after the ftna�cial
information was originally submitted and there are no new sources of income that were
not previously reported.
Increases (e.g., raises) in income previously reported would not affect the validity of a
Program Commitment if the loan closes within 60 days from the time the Program
Commitment was issued. If the loan does not close within 60 days, any additional
income must be included in household income. If total income exceeds the Program
maximum, the Applicant will be disqualified.
If an Applicant experiences a change in marital status after issuance of the Commitment
and prior to closing, the app(icant(s) must sti(I satisfy the prior home ownership
requirements contained in the Application Affidavit. Any income added to the household �
income because of a new spouse will be considered and may effect the eligibility of the ,
Applicant. �
10. Chans�es of Home Ownershla Status or Amount of Mortqaae Loan
If the Applicant acquires a present ownership interest in a principal residence prior to
loan closing, the Program Commitment shall be revoked. If the total acquisition cost of
the residence to be purchased in connection with the Program increases so as to
require an increase in the amount of the Program subsidy, then the Program
Commitment shall be revoked. The Lender would in this case be required to submit a
new Request of Program CommitmenUReservation package to the Agency.
11. Other Chan�es in Cirr,.umstances
The Program Commitment is issued in reliance upon the Applicant's Affidavit that the
requirements necessary for issuance of a qualified Program loa� have been met. The
Lender must immediately notify the Agency in writing of any change in circumstances
upon which the Commitment was issued. Such changes may result in Commitment
revocation.
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FTH$ Program Manunl
Resolution No. 512
Palm Desert FTHBP
Program Manual
Paga 16 oi 17
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12. Conflict of /nterest
Resolution No. 512
Pa�m Deiert FTHBP
Program Manual
Pag� 17 of 1T
No Program loan shall be issued to a person, or the immediate family of a person, who
is in a decision-making position relative to the Program or the issuance of a Program
loan. This inciudes, but is not limited to, staff and immediate family members of staff, of
the Lenders, the Agency, and the Program Administrator.
13. Prooram Adminlstrator — Hendlina Prioritv
Applications will be accepted and processed on a first come, first served basis
according to the dats of receipt. In the event that the Agency receives more
applications than funds are available, the following ordes of priority wi11 be applied:
1. Applicants cuRently living in unsanitary, unsafe, or unheafthful condition;
2. Applicants currently living in an overcrowded condition;
3. Applicants currently paying over 30% of household income in total housing
cost;
4. Those with the most suitable family size for the dwelling unit proposed to
be purchased;
5. Palm Desert residents;
6. Those with employment in Palm Desert;
7. Those with fami(y in Palcr� Oesect; and
_ 8. Others.
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FTHB Program Manual