POWER POINTS
CITY COUNCIL
MEETING
FEBRUARY 4, 2025
February 4, 2025
1 City Council Regular Meeting
February 4, 2025
City Council Regular Meeting
February 4, 2025
PUBLIC COMMENT – MATTERS
NOT ON THE AGENDA
2/5/2025
1 2
February 4, 2025
2 City Council Regular Meeting
February 4, 2025
CLOSED SESSION IN PROGRESS
Pledge of Allegiance
3 4
February 4, 2025
3 City Council Regular Meeting
February 4, 2025
PUBLIC COMMENT – MATTERS
NOT ON THE AGENDA
2/5/2025
City Council Meeting
February 4, 2025
P1 – SilverRock Development Project
Status Update
5 6
February 4, 2025
4 City Council Meeting
February 4, 2025
B1 – Adopt Resolution to Approve the City’s
General Fund Balance and Reserves Policy
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February 4, 2025
5 Reserves Policy
• Adopted in 2018, Updated in 2023
• Reserves categorized for specific uses
• Periodic reviews to determine adequacy of
reserve levels
Reserves Categories
• Natural Disaster
• Economic Downturn
• Cash Flow
• Capital Replacement
• Pension Trust
• Measure G
• Unassigned
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February 4, 2025
6 Reserves – Audited Values
Category Target Funding
Committed Reserves
Natural Disaster $ 15,000,000 $ 15,000,000
Economic Downturn 13,000,000 $ 13,000,000 $
Cash Flow 5,000,000 $ 5,000,000 $
Capital Replacement 12,000,000 $ 12,000,000 $
Sub Total 45,000,000 $ 45,000,000 $
Restricted
Pension Trust 5,000,000 $ 5,317,487 $
Unassigned 8,000,000 $ 44,105,041 $
Measure G Unassigned - $ 29,214,191 $
Grand Total 58,000,000 $ 123,636,719 $
As of 6/30/2023
Pension Studies
• Subcomittees of the Financial Advisory
Commission
• Studies conducted in 2021, 2022, and
2024
• Consistently recommended paying down
Unfunded Liabilities
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February 4, 2025
7 Additional Discretionary Payments
Fiscal Year Classic Tier Tier 2 PEPRA Tier Total
2018/19 - $ 15,353 $ 22,060 $ 37,413 $
2019/20 - $ 20,000 $ 10,000 $ 30,000 $
2020/21 1,000,000 $ 6,419 $ 57,345 $ 1,063,764 $
2021/22 2,500,000 $ 2,500,000 $
2022/23 11,200,000 $ 11,200,000 $
2023/24 350,000 $ 130,000 $ 470,000 $ 950,000 $
TOTAL 15,050,000 $ 171,772 $ 559,405 $ 15,781,177 $
Additional Discretionary Payments to CalPERS
GovInvest conservatively estimates that the City has saved $17 to $19 million in future interest payments as a result of these ADPs.
City Pension Tiers
Classic Tier Tier 2 PEPRA Tier Totals
Entry Age Normal Accrued Liability 58,124,122 $ 1,425,777 $ 4,854,435 $ 64,404,334 $ Plan's Market Value of Assets 54,216,782 $ 1,276,825 $ 4,335,953 $ 59,829,560 $ Unfunded Accrued Liability 3,907,340 $ 148,952 $ 518,482 $ 4,574,774 $ Funded Ratio 93.3% 89.6% 89.3% 92.90%
Classic Tier Tier 2 PEPRA Tier
Hire Date On and Before 12/31/2012 On and after 12/17/2012 On and after 1/1/2013 Benefit Formula 2.5% at age 55 2% at age 60 2% at age 62 Benefit Vesting Schedule 5 years of service 5 years of service 5 years of service Benefit Payments monthly for life monthly for life monthly for life Retirement Age 50 and up 50 and up 52 and up
Required employee contribution rate 8.000% 7.000% 7.750% Required employer contribution rate 14.180% 10.190% 7.960% Number of Active Members* 18 (19) 8 69 +16
Number of Retired Members* 124 +24 2 +1 1 +1
* As of June 30, 2023 from CalPERS valuation reports. Red indicates change from 2019 reports 13 14
February 4, 2025
8 Amortization Schedule - Classic
Date Balance Payment Balance Payment Balance Payment
6/30/2025 3,939,824 336,556 69,800 7,344 25,628 2,267
6/30/2026 3,859,921 343,981 66,957 7,009 25,028 2,279
6/30/2027 3,766,911 351,407 64,266 6,673 24,375 2,290
6/30/2028 3,659,903 358,833 61,740 6,338 23,666 2,303
6/30/2029 3,537,943 366,258 59,389 6,003 22,896 2,314
6/30/2030 3,400,017 366,260 57,223 6,003 22,062 2,315
6/30/2031 3,252,710 366,259 54,910 6,003 21,170 2,315
6/30/2032 3,095,388 366,259 52,440 6,003 20,218 2,315
6/30/2033 2,927,368 366,260 49,802 6,003 19,200 2,314
6/30/2034 2,747,921 366,258 46,985 6,002 18,114 2,314
6/30/2035 2,556,274 366,259 43,978 6,003 16,954 2,315
6/30/2036 2,351,594 366,260 40,765 6,003 15,714 2,314
6/30/2037 2,132,994 366,258 37,333 6,003 14,391 2,314
6/30/2038 1,899,532 366,261 33,668 6,003 12,978 2,313
6/30/2039 1,650,191 366,260 29,754 6,003 11,470 2,315
6/30/2040 1,383,895 366,259 25,573 6,003 9,858 2,314
6/30/2041 1,099,493 366,260 21,108 6,003 8,137 2,314
6/30/2042 795,749 366,258 16,339 6,002 6,299 2,314
6/30/2043 471,354 366,262 11,248 6,004 4,336 2,314
6/30/2044 124,897 129,073 5,808 6,002 2,240 2,315
6/30/2045
Total 7,013,741 123,410 46,168
Interest Paid 3,073,917 53,610 20,540
7,183,319 3,148,067
Current Amortization
Schedule Classic
Current Amortization
Schedule PEPRA
Current Amortization
Schedule Tier 2
Total Payments, All Plans Total Potential Savings
PERS History
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February 4, 2025
9 Policy Goals
• Set targets for plan funded status and pension
trust balance
• Allow for annual budgeting of pension liabilities
• Provide flexibility for City to make decisions
based on market conditions and competing
priorities for funds
Recommended Policy Edits
• Define General Policy goals to include pension
funding
• Set target funded status of pension plan to at least
95%, or 100% when also factoring in trust balance
• Set target for trust fund to 20% of Entry Age Accrued Liability (which would be about $12.8 million), or
minimum of $5.0 million
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February 4, 2025
10 City Council Meeting
February 4, 2025
B2 – Approve 2nd Round Community Services
Grants 2024-25
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February 4, 2025
11 Community Services Grants
• Grants are awarded to non-profit organizations
that serve La Quinta residents and/or the
Coachella Valley
• Ad-Hoc reviews all grant requests and makes
recommendations for grant funding
• During 1st round, Council awarded $31,000 in
funding requests
Community Services Grants
• The deadline for the 2nd round of grants was
January 3, 2025
• Seven organizations submitted grant requests for
a total of $33,500
• Ad-Hoc recommends funding $24,000 for six
organizations
• If approved, $45,000 would remain for the final
round of grants
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February 4, 2025
12 Committee
Recommendation
Applicant Requested
Angel View $3,500 $3,500
Coachella Valley Horse Rescue $5,000 $5,000
Desert Recreation Foundation $5,000 $5,000
Friends of the Desert Mountains $5,000 $5,000
HARC Inc. $5,000 $0
Riverside County Sheriff Explorer Post $5,000 $5,000
503
United Cerebral Palsy of the Inland $5,000 *$500
Empire
TOTAL $33,500 $24,000
*Starter Grant
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February 4, 2025
13 City Council Meeting
February 4, 2025
B3 – Approve Amendment No. 1 with HGA
for Cultural Campus including
Lumberyard Options
• Lumberyard Building Renovation – Address condition and potential future use. • Addition of a Sliding Gate to CMU Wall
– Provide flexible site access.
• Plaza Snake Design and Storytelling
Enhancements – Cultural and
educational elements.
Overview of Additional Services
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February 4, 2025
14 • Constructed in 1935 as part of the La Quinta
Milling and Lumber Company. • Structural assessment (Aug 2024) confirmed the building is structurally sound for continued use
with minor repairs.
• Retrofitted for seismic safety in 1997. • Not officially designated as historic but identified as eligible in the La Quinta Historic
Resource Survey.
Lumberyard Building – Background
and Structural Assessment
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February 4, 2025
15 • Interior Remodel: Multi-purpose space, prep
kitchen, restrooms, storage.
• Structural & Exterior Repairs: Address termite
damage, roof, CMU wall cracking.
• Technology, Lighting & Landscaping
Enhancements. • Integration into Cultural Campus Project. • Proposed Fee: $239,790 (+$10,000 for reimbursables).
Lumberyard Building – Proposed Work
Lumberyard Option
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February 4, 2025
16 • Purpose: Allows for future site expansion
while maintaining security and functionality.
• Scope of Work:
• Create a 14’-8” opening in the CMU wall.
• Install a powered sliding gate for controlled
access.
• Maintain projection screen functionality. • Proposed Fee: $24,050.
Addition of Sliding Gate to CMU Wall
Sliding Gate within Oasis
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February 4, 2025
17 • Represents regional history and culture,
designed in collaboration with tribal
consultants.
• Enhances visitor experience through
artwork, wayfinding, and storytelling. • Intended to provide an interactive and educational feature within the Cultural
Campus.
Plaza Snake – Cultural and
Educational Significance
• Finalize medallion designs for the snake
element in the plaza.
• Audio Storytelling Integration – 40 short
recordings explaining cultural significance.
• Wayfinding & Signage to provide visitor
context and education.
• Proposed Fee: $58,300 (+$3,000 for
reimbursables).
Plaza Snake – Proposed Work
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February 4, 2025
18 Current Plaza Snake Rendering
Artwork Process
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February 4, 2025
19 Artwork Process
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February 4, 2025
20 Artwork Process
Sample Graphic
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February 4, 2025
21 Sample Graphic
Budget
• $625,000 in Community Center DIF funding
• $2,875,000 in Library Funding
• $1,310,000 in Measure G Funding
Project Budget
Design: $ 1,032,114
Professional: $ 190,182
Construction: $ 3,053,636
Inspection/Testing/Survey: $ 217,705
Contingency: $ 316,363
Total Budget: $ 4,810,000
Total Summary of Additional
Design Costs
Lumberyard Renovation: $ 239,790
Sliding Gate Addition: $ 24,050
Plaza Snake Development: $ 58,300
Total Amount: $ 322,140
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February 4, 2025
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