Agenda packet — Campbell City Council, March 24, 2026 (part 1 of 3)

City Council Agenda
City of Campbell, 70 N. First St., Campbell, California NOTE: This City Council Regular meeting will be conducted in person as well as telecommunication and is compliant with provisions of the Brown Act.

The City Council meeting will be live-streamed on Channel 26 (Xfinity) or Channel 88 (Direct TV), the City's website and on YouTube https://www.youtube.com/user/CityofCampbell for those who only wish to view the meeting.

Those members of the public wishing to provide public comment virtually are asked to register in advance at: https://www.campbellca.gov/signup. After registering, you will receive a confirmation email containing information about joining the meeting. Members of the public may attend the meeting in person at Campbell City Hall - Council Chambers.

Public comment will also be accepted via email at [email protected] until 12:00 p.m. prior to the start of the meeting. Written comments will be posted on the website and distributed to the Council. If you choose to email your comments, please indicate in the subject line “FOR PUBLIC COMMENT” and indicate the item number.

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, March 24, 2026 07:00 PM
City Hall Council Chamber

CALL TO ORDER/ROLL CALL

PLEDGE OF ALLEGIANCE

SPECIAL PRESENTATIONS AND PROCLAMATIONS
Please Note: Items listed under Special Presentations and Proclamations are considered ceremonial. The City Council will not take action on these matters.

Proclamation Declaring the Month of March 2026 as
“American Red Cross Month” in the City of Campbell

Page 7 ends

Recommended Action
That the Mayor proclaim the month of March 2026 as “American Red Cross Month” in the City of Campbell.

1. 2.

3. 3.1
Proclamation Declaring the Month of March 2026 as “Disability Awareness Inclusion Month” in the City of Campbell

Page 11 ends

Recommended Action
That the Mayor proclaim the Month of March 2026 as Disability Awareness Inclusion Month in the City of Campbell.

Proclamation Declaring the Week of March 23 - 27, 2026 as "Government Finance Professionals Week" in the City of
Campbell

Page 14 ends

Recommended Action
It is recommended that the Mayor proclaim the week of March 23 - 27, 2026 as "Government Finance Professionals Week" in the City of Campbell.

COMMUNICATIONS AND PETITIONS

ORAL REQUESTS
NOTE: This portion of the meeting is reserved for persons wishing to address the City Council on any matter not on the agenda. Persons wishing to address the Council are requested, but not required to complete a Speaker’s Card. Speakers are limited to two (2) minutes. The law generally prohibits the Council from discussion or taking action on such items. However, the Council may instruct staff accordingly regarding Oral Requests.

COUNCIL ANNOUNCEMENTS

CONSENT CALENDAR
NOTE: All matters listed under consent calendar are considered by the City Council to be routine and will be enacted by one motion. There will be no separate discussion of these items unless a request is made by a member of City Council, City staff, or a member of the public. Any person wishing to speak on any item on the consent calendar should ask to have the item removed from the consent calendar prior to the time the Council votes to approve. If removed, the item will be discussed in the order in which it appears.

Minutes of City Council Study Session Meeting of March 3, 2026.

Page 18 ends

Recommended Action
Approve the study session meeting minutes of March 3, 2026.

Minutes of City Council Regular Meeting of March 3, 2026. Page 21

3.2 3.3

4. 5.

6. 7.

7.1 7.2
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Recommended Action
Approve the regular meeting minutes of March 3, 2026.

Approving the Bills and Claims Page 32
Recommended Action
Approve the bills and claims in the amount of $3,349,058.71.

Monthly Investment Transactions Report- February 2026 Page 34 Recommended Action
That the City Council review and accept the Monthly Investment Transactions Report for February 2026.

Accepting Improvements for the Campbell Priority
Development Area Enhancements on Civic Center Drive at
Second and Third Streets Project No. 25-DD, Directing the Public Works Director to File Notice of Completion, and Authorizing the Finance Director to Perform a Future Budget Adjustment (Resolution/Roll Call Vote)

Page 83 ends

Recommended Action
That the City Council adopt a resolution for: 1) accepting the improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD; 2) directing the Public Works Director to file the Notice of Completion; and 3) authorizing the Finance Director to perform a future budget adjustment transferring any project balance to future phase of the Campbell Priority Development Area Enhancements Project on Orchard City Drive at North Central Avenue.

Adoption of Ordinance 26-2344 - Beekeeping Page 90
Recommended Action
That the City Council take second reading and adopt Ordinance 26-2344 amending Section 7.04.10 and Chapter 7.25 - Beekeeping of the Campbell Municipal Code.

PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES
NOTE: Members of the public may be allotted up to two (2) minutes to comment on any public hearing item.

Applicants/Appellants and their representatives may be allotted up to a total of five (5) minutes for opening statements and up to a total of three (3) minutes maximum for closing statements. Items requested/recommended for continuance are subject to Council’s consent at the meeting.

7.3 7.4

7.5 7.6

8. Tuesday, March 24, 2026 3 of 474
Discussion of SB 79 and request for Council feedback
regarding approach to implementation in Campbell, including potential preparation of a Transit Oriented Development Alternative Plan (TOD Alt Plan)

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Recommended Action
Provide direction to staff regarding which SB 79 implementation pathway to pursue:

Option 1 – Direct staff to initiate preparation of a Transit-Oriented Development Alternative Plan (TOD Alt Plan) immediately; Option 2 (Staff Recommended) – Direct staff to defer initiation of a TOD Alt Plan and return for further Council discussion following publication of the official SB 79 station area maps by the metropolitan planning organization and related state guidance; Option 3 – Direct staff to evaluate targeted land use and zoning map amendments for select sites that may affect SB 79 applicability; Option 4 – Allow SB 79 to take effect without further action.

Public Hearing to consider the adoption of an Interim
Ordinance, identifying specific sites for exclusion from Senate Bill 79 (SB 79) applicability, amending Section 21.02.020.E (Conflicting Requirements) of the Campbell Municipal Code to clarify the applicability of State and Federal preemptions to the Zoning Code, including as related to the implementation of Senate Bill 79, amending the Zoning Map to add a reference to Historic Structures of Merit, and authorizing submittal to the California Department of Housing and Community
Development (HCD) for statutory review.

Page 125 ends

Recommended Action
That the City Council take the following action: Adopt an Interim Ordinance, identifying specific sites for exclusion from Senate Bill 79 (SB 79) applicability, amending Section 21.02.020.E (Conflicting Requirements) of the Campbell Municipal Code to clarify the applicability of State and Federal preemptions to the Zoning Code, including as related to the implementation of Senate Bill 79, amending the Zoning Map to add a reference to Historic Structures of Merit, and authorizing submittal to the California Department of Housing and Community Development (HCD) for statutory review.

NEW BUSINESS
West Valley Homeless Services Feasibility Study Page 157 Recommended Action
That the City Council receive the report and provide feedback on the West Valley

8.1 8.2

9. 9.1
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Homeless Services Feasibility Study and adopt a Resolution of Intent to support participation in a West Valley Homeless Services Implementation Task Force.

Acceptance of Fiscal Year 2025 Annual Comprehensive
Financial Report and Auditor’s Written Communication on Internal Control

Page 260 ends

Recommended Action
That the City Council accept the Fiscal Year 2025 Annual Comprehensive Financial Report and Auditor’s written communication on internal control structure and the audit process as submitted with this report.

Fiscal Year 2026 Mid-Year Financial Update and Budget
Adjustments

Page 444 ends

Recommended Action
Staff recommends that the City Council accept the Fiscal Year 2026 Mid-Year Financial Update Report and adopt a Resolution authorizing the Fiscal Year 2026 Mid-Year Budget Adjustments.

UNFINISHED BUSINESS
Adoption of Fiscal Year 2027 City Council Priorities Page 462 Recommended Action
That the City Council adopt the proposed Fiscal Year 2027 City Council Priorities.

Appointment of Vice Mayor Page 467
Recommended Action
That the City Council consider appointing a member of the City Council to serve as Vice Mayor for the remainder of the current year.

COUNCIL COMMITTEE REPORTS
Council Committee Reports Page 471
Recommended Action
That the City Council report on activities from their committee assignments.

ADJOURN
IMPORTANT NOTICE: Materials related to an item on this agenda submitted to the City Council after

9.2 9.3

10. 10.1

10.2 11.

11.1 12.

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distribution of the agenda packet are available for public inspection with the agenda packet in the lobby of City Clerk’s Office, 70 N. First Street, Campbell, CA 95008, during normal business hours. These materials will also be available on the City website at https://pub-campbell.escribemeetings.com with the agenda packet following the last item of the agenda, subject to staff’s ability to post the documents prior to the meeting. All documents not posted prior to the meeting will be posted the next business day.

In compliance with the Americans with Disabilities Act, listening assistive devices are available for all meetings held in the City Council Chambers. If you require accommodation, please contact the City Clerk’s Office, (408) 866-2117, at least one week in advance of the meeting.

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City Council Report
DATE: March 24, 2026
TITLE: Proclamation Declaring the month of March 2026 as “American Red Cross Month” in the City of Campbell
RECOMMENDED ACTION:

That the Mayor proclaim the month of March 2026 as “American Red Cross Month” in the City of Campbell.

BACKGROUND
March was first proclaimed as Red Cross Month in 1943 by President Franklin D.

Roosevelt as a way to raise awareness of the organization and its humanitarian mission in the midst of war. Since then, every United States President has designated March as Red Cross Month. The American Red Cross is synonymous with helping people which it has been doing for over 140 years.

American Red Cross was established as a humanitarian organization, guided by seven fundamental principles—including humanity, impartiality, and independence—to provide services to those in need regardless of race, religion, gender, sexual orientation, or citizenship status. Today, the American Red Cross is one of the largest humanitarian organizations in the world. It delivers its mission every day to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of doners. Their voluntary and generous contributions are many — whether it’s delivering shelter, food and comfort during disasters; providing critical blood donations for hospital patients; supporting service members, veterans and their families; saving lives with first aid, CPR, AED and other skills; or delivering international aid and reconnecting loved ones separated by global crises. Additionally, the Red Cross aspires to help all members of our armed services and their families find support and comfort whenever needed and ensure everyone in our country has access to safe, lifesaving blood and blood products.

DISCUSSION
Locally, the Silicon Valley Chapter of the American Red Cross has a long history of helping our neighbors in need by deploying Red Cross trained responders all over the U.S. to deliver shelter, care, and hope during disasters. Not only by providing lifesaving blood to those in need but through programs such as the Home Fire Campaign, the American Red Cross helps residents, military, veterans, and their families. The Silicon Item 3.1
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Valley Chapter of the American Red Cross serves more than 1.9 million people in Santa Clara County and has the support of more than 1,500 local volunteers.

March is American Red Cross Month, a time to recognize the humanitarian organization that eases people’s suffering during life’s emergencies in the City of Campbell, across the United States, and around the world. This proclamation would designate the month of March as American Red Cross Month throughout the City of Campbell. It would support, honor, and celebrate the everyday heroes who donate their time, money, and blood to fulfill the mission of the American Red Cross.

FISCAL IMPACT
There is no fiscal impact associated with this action.

PREPARED BY: Kristen Epolite, Deputy City Clerk
Item 3.1
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Report Approval Details
Document Title: Report - Proclamation - Red Cross Month 2026.docx Attachments: Proclamation - Red Cross Month 2026.docx
Final Approval Date: March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 3.1
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PROCLAMATION OF THE

MAYOR OF THE CITY OF CAMPBELL

WHEREAS, March is American Red Cross Month, a time when we recognize the humanitarian organization that eases people’s suffering during life’s emergencies in the City of Campbell, across the United States and around the world; and
WHEREAS, the Silicon Valley Chapter of the American Red Cross plays an especially vital role in our local community, providing essential services to residents of Santa Clara County and beyond, including disaster response, emergency preparedness education, and support for military families, ensuring that those in need have access to critical resources and assistance; and WHEREAS, the American Red Cross embodies the very best of our nation’s spirit of compassion, service, and resilience; and
WHEREAS, the City of Campbell would like to remember our heroes who help people in need and work tirelessly to assist their neighbors when they need a helping hand; and WHEREAS, the City of Campbell recognizes the dedicated volunteers and staff of the Silicon Valley Chapter who work tirelessly to support neighbors affected by home fires, floods, and other local emergencies, offer lifesaving CPR, first aid, and preparedness training, and collect the blood donations that help sustain the nation’s blood supply; and WHEREAS, as communities across California continue to face increasingly frequent and severe disasters such as wildfires, storms, and extreme weather events, the American Red Cross remains a trusted partner in helping families prepare for emergencies and recover in the aftermath; and WHEREAS, the City of Campbell dedicates the month of March to all those who support the American Red Cross mission; to prevent and alleviate human suffering in the face of emergencies.

NOW, THEREFORE, I, Daniel E. Furtado, Mayor of the City of Campbell, do hereby proclaim March 2026 as American Red Cross Month. I encourage all Americans to support this organization and its noble humanitarian mission.

WITNESS MY HAND AND SEAL OF THE CITY OF CAMPBELL this 24th day of March 2026.
___________________________________
Daniel E. Furtado, Mayor
City of Campbell
Item 3.1
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City Council Report
DATE: March 24, 2026
TITLE: Proclamation Declaring the Month of March 2026 as “Disability Awareness Inclusion Month” in the City of Campbell
RECOMMENDED ACTION:

That the Mayor proclaim the Month of March 2026 as Disability Awareness Inclusion Month in the City of Campbell.

BACKGROUND
The Disability Awareness Council, founded by Kirk Kang and Ethan Kang, works locally with elementary schools to promote disability inclusion, support students of all abilities, and encourage belonging among youth. Through its efforts, the organization also provides adaptive programming opportunities, including inclusive run and music initiatives that celebrate the talents and physical well-being of participants of all ages and abilities.

Disability Inclusion Awareness Month, promoted by The Disability Awareness Council, provides an opportunity to highlight these efforts, recognize the contributions of people with disabilities, and encourages us to commit to accessibility and inclusion.

DISCUSSION
The proposed proclamation supports equity, accessibility, and community engagement.

Recognizing Disability Inclusion Awareness Month helps to increase public awareness of the importance of disability inclusion as well as acknowledging local organizations and advocates advancing inclusive practices. By encouraging residents, schools, and businesses to remove barriers and promote accessibility, we can help to ensure all residents can fully participate in community life.

FISCAL IMPACT
There is no fiscal impact associated with this action.

PREPARED BY: Kristen Epolite, Deputy City Clerk
Item 3.2
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Report Approval Details
Document Title: Report - Disability Awareness Inclusion Month .docx Attachments: Proclamation - Disability Awareness Inclusion Month 2026.docx
Final Approval Date: March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 3.2
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PROCLAMATION OF THE

MAYOR OF THE CITY OF CAMPBELL
WHEREAS, the City of Campbell strives to be a community where every individual, regardless of ability, is treated with dignity, respect, and has the opportunity for equitable access to all community programs and services; and
WHEREAS, the Disability Awareness Council, founded by Kirk Kang and Ethan Kang, partners with local elementary schools to spread awareness of inclusion, provide support for students of all abilities, and promote belonging among youth; and WHEREAS, through the Disability Awareness Council, individuals of all ages and abilities are provided with adaptive programming, including inclusive fun run and music initiatives that celebrate the talents and physical well-being of all participants; and WHEREAS, dismantling the barriers and addressing the challenges faced by people with disabilities is essential to building a truly inclusive community in the City of Campbell, where accessibility and collaboration ensure the success and belonging of every resident.

NOW, THEREFORE, I, Daniel E. Furtado, Mayor of the City of Campbell, California, do hereby proclaim the month of March 2026 as “Disability Awareness Inclusion Month”.

WITNESS MY HAND AND SEAL OF THE CITY OF CAMPBELL this 24th day of March 2026.
___________________________________
Daniel E. Furtado, Mayor
City of Campbell, California
Item 3.2
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City Council Report
DATE: March 24, 2026
TITLE: Proclamation Declaring the Week of March 23 - 27, 2026 as "Government Finance Professionals Week" in the City of Campbell
RECOMMENDED ACTION:

It is recommended that the City Council proclaim the week of March 23 - 27, 2026 as "Government Finance Professionals Week" in the City of Campbell.

BACKGROUND
The newly established Government Finance Professionals Week will be observed nationwide the week of March 23 – 27, 2026, in an effort to highlight the essential contributions of local finance staff in California and across the country. The effort to establish this week was spearheaded by the California Society of Municipal Finance Officers (CSMFO); a statewide professional organization supporting excellence in local government financial management.

Finance professionals manage complex public resources; ensure compliance with state and federal requirements; produce transparent budgets and financial reports; administer utility rates and enterprise funds; and support long-term financial sustainability. Their work forms the backbone of local government operations and is critical to maintaining community trust. As such, CSMFO encourages agencies across California to recognize Government Finance Professionals Week each year to highlight these essential contributions. Please note that the City normally recognizes National Payroll Week the first week of September each year, but Government Finance Professionals Week is the first week that recognizes the efforts of the entire Finance Department; including those in administration, payroll, accounting, accounts payable, accounts receivable, business licensing, budgeting, debt management, treasury management, investment management, and risk management. Going forward, it is recommended that the City only recognize this more inclusive week each year.

DISCUSSION
California’s fiscal and regulatory environment presents unique challenges—from Proposition 13 and Proposition 218 compliance to the Gann Limit, CalPERS obligations, grant administration, and economic volatility. Finance professionals work diligently behind the scenes to safeguard public dollars, enhance operational efficiency, and provide timely, accurate information for informed policy decisions.

Item 3.3
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Recognizing Government Finance Professionals Week acknowledges their expertise, dedication, and important role in supporting core public services such as public safety, infrastructure, parks, utilities, and community programs.

The proclamation included with this agenda item affirms the City of Campbell’s appreciation for the Finance team and underscores the City’s commitment to transparency, accountability, and responsible financial stewardship.

FISCAL IMPACT
None. Recognition activities will be supported by existing resources.

PREPARED BY: Will Fuentes, Finance Director
Item 3.3
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Report Approval Details
Document Title: Report - Proclamation for Government Finance Professionals Week.docx
Attachments: Proclamation - Government Finance Professionals Week.docx Final Approval
Date:

March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 3.3
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A PROCLAMATION OF THE CITY OF CAMPBELL
SUPPORTING MARCH 23 THROUGH MARCH 27, 2026

AS GOVERNMENT FINANCE PROFESSIONALS WEEK IN THE CITY OF CAMPBELL WHEREAS, the California Society of Municipal Finance Officers (CSMFO) is the state’s leading professional organization dedicated to promoting excellence in financial management for California’s local governments; and
WHEREAS, government finance professionals serve cities, counties, special districts, and joint powers authorities, by ensuring transparency, accountability, and responsible stewardship of public funds; and
WHEREAS, these professionals play a critical role in managing complex budgets, complying with state and federal laws, maintaining accurate financial reporting in compliance with government accounting standards, administering utility rate processes and enterprise funds; and supporting long-term financial sustainability; and
WHEREAS, California’s financial landscape—shaped by Proposition 13, Proposition 218, the Gann Appropriations Limit, CalPERS pension obligations, and fluctuating economic conditions—requires expert analysis and sound financial leadership; and WHEREAS, finance professionals work diligently, often behind the scenes, to provide critical information that enables informed policy decisions and ensures the delivery of essential public services; and
WHEREAS, recognizing Government Finance Professionals Week during the last week of March helps highlight the dedication, integrity, and professionalism of these essential public servants;
NOW, THEREFORE, I, Daniel E. Furtado, Mayor of the City of Campbell, California, do hereby proclaim March 23, 2026 through March 27, 2026 as “Government Finance Professionals Week’ and encourages all residents to recognize and appreciate the hard work and contributions of the finance professionals who serve our community.

WITNESS MY HAND AND SEAL OF THE CITY OF CAMPBELL this 24th day of March 2026.

Daniel E. Furtado, Mayor
City of Campbell
Item 3.3
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CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

STUDY SESSION MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, March 03, 2026 06:00 PM
City Hall Council Chamber
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

This meeting was recorded and can be viewed in it's entirety at: https://pubcampbell.escribemeetings.com PRESENT:

Mayor Furtado
Vice Mayor Scozzola
Councilmember Lopez
Councilmember Hines
Councilmember Bybee
ABSENT:

None

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the special meeting place, the Council Chamber, 70 N. First Street, Campbell, California.

Vice Mayor Scozzola participated virtually from Playa de Deportes San Josecito, Calle Twin Rivers, Osa, Costa Rica. A quorum of the City Council was in attendance at the Campbell City Hall Council Chambers.

2. PUBLIC COMMENT
Public Comment was taken following the staff report presentation.

3. NEW BUSINESS

3.1 Receive Information on City Facilities – City Hall and Campbell Item 7.1
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Community Center
City Manager Loventhal introduced the item and Public Works Director Olay.

Public Works Director Olay presented a staff report dated March 3, 2026. It was recommended that that the City Council receive information regarding the condition of City Hall and the Campbell Community Center and provide feedback on funding strategies to address near-term deferred maintenance and capital improvement needs for these facilities.

An overview of City-owned buildings was presented and some of their associated challenges such as roof-related deficiencies; Community Center pool and facility needs; and HVAC systems. Key risk considerations; cost and funding strategies were presented.

Following the staff report presentation and Council questions, Mayor Furtado asked if anyone from the public wished to speak.

Susan M. Landry, Campbell resident noted the high cost of design fees and proposed a Community Center Master Plan; was not supportive of a bond measure, and spoke in support of non-residents be required a higher rate than residents for Community Center services.

Steve Saunders, Campbell resident, stated the main priority should be to fix the roofs.

Councilmembers provided feedback to the staff report presentation.

Councilmember Hines was not supportive of General Obligation Bonds; and was supportive for all other funding options such as general fund debt capacity and using a percentage of tenant leases. He noted consideration of solar technology for the Community Center pool.

Councilmember Lopez was not supportive of general obligation bonds but requested more information on cost benefits on using debt capacity versus a general obligation bond. He was in favor of looking at park funds, but not supportive of increasing fees.

Vice Mayor Scozzola stated support for pool fees if small, and supportive of a larger fee for non-residents; and supportive of polling for more information on general obligation bond.

Item 7.1
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Councilmember Bybee stated support for most of the funding strategies listed and would be interested in more information on other strategies for comparison. She suggested a capital campaign fund that involve citizens to help raise money for the pool.

Mayor Furtado stated a priority should be addressing the issues at City Hall such as the roof repair and HVAC systems. He was not supportive of an obligation bond.

4. ADJOURN
Mayor Furtado adjourned the meeting at 6:50p.m.

APPROVED: Daniel E. Furtado, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.1
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CITY COUNCIL MINUTES
City of Campbell, 70 N. First St., Campbell, California

REGULAR MEETING OF THE CAMPBELL CITY COUNCIL
Tuesday, March 03, 2026 07:00 PM
City Hall Council Chamber
This City Council meeting was duly noticed pursuant to open meeting requirements of the Ralph M. Brown Act (G.C. Section 54956).

This meeting was recorded and can be viewed in it's entirety at: https://pubcampbell.escribemeetings.com PRESENT:

Councilmember Bybee
Councilmember Hines
Councilmember Lopez
Mayor Furtado
Vice Mayor Scozzola
ABSENT:

None

1. CALL TO ORDER/ROLL CALL
The City Council of the City of Campbell convened this day in the regular meeting place, the City Hall Council Chamber, 70 N. First St., Campbell, California.

Roll call was taken and quorum was confirmed. Vice Mayor Scozzola participated virtually from Plaza de Deportes San Josecito, Calle Twin Rivers Osa, Costa Rica.

2. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Community Service Officer John Bridgeman in recognition of his 30 years of service to the City of Campbell.

Mayor Furtado recognized Mr. Bridgeman, gave congratulatory comments upon his retirement and presented him a Certificate of Appreciation for leading the Pledge.

Councilmembers thanked John for his service and meaningful contributions to the Item 7.2
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community.

Chief Berg thanked the Council for the opportunity to recognize John, he commented on all the positive interactions he has had with the public and commended him for his service.

John thanked the city and the Police Department for all their support through the years. He thanked his wife Laura and family in attendance. He stated it has been a joy to come to work everyday and get to know everybody; and is appreciative for the opportunity given to him.

3. SPECIAL PRESENTATIONS AND PROCLAMATIONS

3.1 Proclamation Declaring the Month of March 2026 as “Youth Arts Month” in the City of Campbell
That the Mayor proclaim the month of March 2026 as Youth Arts Month in the City of Campbell.

Mayor Furtado read from the proclamation and declared the Month of March 2026 as Youth Arts Month in the City of Campbell.

4. COMMUNICATIONS AND PETITIONS
There were no communications and petitions.

5. ORAL REQUESTS
Tom, Campbell resident, stated he had not received a response to email inquiries written to the City Managers Office; and asked what plans the City had to celebrate the Country's 250th birthday.

Mayor Furtado referred his concern to staff for follow up and noted a flag will be flown at the Veterans Memorial in commemoration of the 250th birthday.

Barbara Collier, Campbell resident, spoke on improvements made to the right of way area near her property that were made without an encroachment permit; and expressed concerns with having to remove the work that has been done and then reinstall following the issuance of a permit. She requested the City help her get this issue resolved.

Mayor Furtado referred the item back to staff for follow up.

6. COUNCIL ANNOUNCEMENTS
Item 7.2
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March is Women’s History Month, and the 2026 theme “Leading the Change. Women Shaping the Future” celebrates the women who are transforming systems to build long term environmental, economic, educational, and social sustainability. The theme highlights women’s leadership in advancing equity, justice, and opportunity, and recognizes their impact across fields such as environmental advocacy, financial reform, community organizing, and policy innovation. Their work not only addresses today’s most urgent challenges but also lays the groundwork for a more resilient and inclusive future.

The Recreation Department will host a Summer Camp and Swim Lesson Open House on Saturday, March 7 from 11:00 am to 1:00 pm. Families are invited to explore the City’s summer camp offerings, meet instructors, and learn about activities available throughout the season. Free swim assessments will also be offered to help ensure children are placed in the appropriate swim level. All activities are free and open to the public. Visit campbellca.gov/recreation for program details.

The Adult Center case manager helps connect older adults and their families with essential resources, including food support, utility cost reduction programs, rental assistance, caregiving services, and more. Appointments are available Monday through Wednesday, either by phone or in person. To schedule, contact Pat Martinez at (408) 871 5154 or [email protected].

The Campbell Police Foundation is hosting a fundraising breakfast on Saturday, March 14 5 from 9 to 10:30 am at the Home Church on Winchester Boulevard in Campbell. Tickets are $30 per person and can be purchased at campbellpolicefoundation.org.

Applications are now open for groups interested in participating in Downtown Campbell’s annual Bunnies and Bonnets Parade, taking place Saturday, April 4. Submissions will be accepted through Monday, March 23. For details and applications, visit downtowncampbell.com.

Community minded residents are invited to apply for openings on the Bicycle & Pedestrian Committee and the Planning Commission. These groups help guide city growth, transportation, and long term planning by reviewing projects, advising on policy, and supporting safer, more connected neighborhoods. To learn more or access the application, visit www.campbellca.gov/Boards-Commissions (campbellca.gov in Bing) or contact the City Clerk’s Office at [email protected] or 408 866 2117. Applications close 5:00 pm Monday, April 6.

This Saturday, March 7, the Campbell Little League will celebrate opening day, held at the Little Leg facilities at Hamilton Avenue and Llewelyn Ave. A special event will be held with honoring the 50-year anniversary of the 1976 little league team.

Item 7.2
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7. CONSENT CALENDAR
Mayor Furtado asked if anyone wished to remove an item off the Consent Calendar.

Item 7.9 was removed from Consent.

The Consent Calendar was considered as follows:

MOVER Lopez
SECONDER Bybee
That the City Council approve the Consent Calendar with the exception of Item 7.9.

The motion was adopted by roll call vote.

RESULT: ADOPTED BY ROLL CALL VOTE:

7.1 Minutes of City Council Special Meeting of February 5, 2026.

Recommended Action: Approve the special meeting minutes of February 5, 2026.

This action approves the special meeting minutes of February 5, 2026.

7.2 Minutes of City Council Executive Session Meeting of February 17, 2026.

Recommended Action: Approve the executive session meeting minutes of February 17, 2026.

This action approves the executive session meeting minutes of February 17, 2026.

7.3 Minutes of City Council Study Session Meeting of February 17, 2026.

Recommended Action: Approve the Study Session Meeting Minutes of February 17, 2026.

This action approves the study session meeting minutes of February 17, 2026.

7.4 Minutes of City Council Regular Minutes of February 17, 2026.

Recommended Action: Approve the regular meeting minutes of February 17, 2026.

This action approves the regular meeting minutes of February 17, 2026.

7.5 Approving the Bills and Claims
Recommended Action: Approve the bills and claims in the amount of $2,814,223.60.

This action approves the bills and claims in the amount of $2,814,233.60 as follows:

Item 7.2
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payroll checks dated January 29, 2026, in the amount of $40,772.82; bills and claims checks dated February 2, 2026, in the amount of $2,104,110.33; and bills and claims checks dated February 9, 2026, in the amount of $669,340.45.

7.6 Monthly Investment Transactions Report- January 2026 Recommended Action: That the City Council review and accept the Monthly Investment Transactions Report for January 2026.

This action approves the Monthly Investment Report for January 2026.

7.7 Monthly Treasurer’s Report (January 2026)
Recommended Action: That the City Council review and accept the Monthly Treasurer’s Report for the month ended January 31, 2026.

This action reviews and accepts the Monthly Treasurer's Report for the month ended January 31, 2026.

7.8 Accepting Improvements for the Pruneyard Creek Trail Extension Project No. 23-LL, File Notice of Completion, and Other Associated Actions Recommended Action: That the City Council adopt a resolution for: 1) accepting the improvements for the Pruneyard Creek Trail Extension Project No. 23-LL and 2) directing the City Engineer to file the Notice of Completion.

Resolution 26-13371 accepts the improvements for the Pruneyard Creek Trail Extension Project No. 23-LL and directs the City Engineer to file the Notice of Completion.

7.9 Commending Community Services Officer John Bridgeman on over 30 years of service.

Recommended Action: That the City Council adopt a Resolution commending Community Services Officer John Bridgeman for his over 30 years of service to the City of Campbell.

Susan M. Landry spoke in support of retired Community Service Officer John Bridgeman and thanked him for his service.

MOVER Bybee
SECONDER Hines
That the City Council adopt Resolution 26-13372 commending Community Services Officer John Bridgeman for his over 30 years of service to the City of Campbell.

Item 7.2
Tuesday, March 24, 2026 25 of 474
AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

8. PUBLIC HEARINGS AND INTRODUCTIONS OF ORDINANCES

8.1 Public Hearing to consider an Ordinance amending Section 7.04.010 (Definitions) and Chapter 7.28 (Beekeeping) of the Campbell Municipal Code. Project File No.: PLN-2025-148.

Now is the time and place for a public hearing to consider an ordinance amending Section 7.04.010 (Definitions) and Chapter 7.28 (Beekeeping) of the Campbell Municipal Code.

Senior Planner Rose presented a staff report dated March 3, 2026.

Following City Council questions, Mayor Furtado opened the public hearing and asked if anyone wished to speak.

Karen Pruitt, Campbell resident, and member of the Bee Keeping Project of Rolling Hills 4-H spoke in support of adopting the bee keeping ordinance.

Alysa Sakkas of the Bee Keeping Project of Rolling Hills 4-H spoke in support of adopting the bee keeping ordinance.

Cordelia Liu of the Bee Keeping Project of Rolling Hills 4-H spoke in support of adopting the bee keeping ordinance and provided information about the importance of honey bees to the worlds food supply.

Adrian Ma of the Bee Keeping Project of Rolling Hills 4-H spoke in support of adopting the bee keeping ordinance and provided information about colony collapse disorder.

Jonathan Li of the Bee Keeping Project of Rolling Hills 4-H spoke in support of adopting the bee keeping ordinance and provided information on the stresses of bees that are used for commercial beekeeping and the importance of backyard beekeeping.

Doug King, Campbell resident, spoke in support of adopting the beekeeping Item 7.2
Tuesday, March 24, 2026 26 of 474
ordinance.

Kim Galeazzi, Campbell resident, spoke in support of adopting the beekeeping ordinance.

Kyla Meidinger, Campbell resident, and part of the Bee Guild spoke in support of adopting the beekeeping ordinance.

Mike Ryan, President of the Santa Clara Bee Guild spoke in support of adopting the beekeeping ordinance.

Zhiping Yang, Campbell resident spoke in support of adopting the beekeeping ordinance.

Susan M. Landry spoke in support of adopting the beekeeping ordinance.

Steve Saunders, Campbell resident spoke in opposition to the proposed ordinance and requested it be amended to include notification to the neighborhood of beekeeping properties.

Raja Pallela, Campbell resident, spoke in support of adopting the beekeeping ordinance and requested the 20 foot setback be reduced to 10 feet. had hive on his property and was not aware of the ordinance, and thanked for the consideration of the proposed ordinance. Requested, if the 20ft setback can be moved to 10.

Campbell resident, former bee keeper, spoke in support of adopting the beekeeping ordinance.

Seeing no one else wishing to speak, Mayor Furtado closed the public hearing.

Councilmembers expressed their appreciation for those that spoke in support of the beekeeping.

After discussion, the City Council motioned for approval of the item. The item was adopted by roll call vote.

City Clerk Sanders read the full title of Ordinance 26-2344. The City Council motioned to waive further reading of the title. The motion was approved by roll call vote.

MOVER Lopez
Item 7.2
Tuesday, March 24, 2026 27 of 474
SECONDER Bybee
That the City Council take the following action: introduce Ordinance 26-2344, amending Section 7.04.010 (Definitions) and Chapter 7.28 (Beekeeping) of the Campbell Municipal Code.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)
MOVER Bybee
SECONDER Lopez
That the City Council waive further reading of Ordinance 26-2344.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

8.2 2025 General Plan and Housing Element Annual Progress Report (APR) Now is the time and place for a public hearing to consider the General Plan and Housing Element Annual Progress Report.

Assistant Planner Lomen presented a staff report dated March 3, 2026.

Following City Council questions, Mayor Furtado opened the public hearing and asked if anyone wished to speak.

John Pringle, representing Barbano, spoke of the application submitted for 328 units and noted that fees are an obstacle for large scale production and recommended looking at park fee reductions.

Seeing no one else wishing to speak, Mayor Furtado closed the public hearing.

After discussion, the City Council motioned for approval of item 8.2.

MOVER Bybee
SECONDER Hines
That the City Council adopt Resolution 26-13373, receive public comment, accept the General Plan and Housing Element Annual Progress Reports, and direct staff to send the Annual Progress Reports to the required State Item 7.2
Tuesday, March 24, 2026 28 of 474
agencies.

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9. NEW BUSINESS

9.1 Application for State Funding through the Prohousing Incentive Program (PIP).

Housing Programs Manager Murillo-Garcia presented a staff report dated March 3, 2026.

Following City Council questions, Mayor Furtado asked if anyone wished to speak.

There was no one wishing to speak.

After discussion, the City Council motioned for approval of Item 9.1. The motion was approved by roll call vote.

MOVER Bybee
SECONDER Lopez
That the City Council adopt Resolution 26-13374 authorizing the City to submit an application for grant funding through the State’s Prohousing Incentive Program (PIP).

AYES (5): Lopez, Furtado, Scozzola, Bybee, and Hines
RESULT: ADOPTED [UNANIMOUS] (5 to 0)

9.2 Consideration of the City Council‘s Statement of Values as it relates to allegations made on February 3, 2026 regarding the Vice Mayor, and consideration of any actions deemed appropriate.

City Manger Loventhal presented a staff report dated March 3, 2026, recommending that the City Council consider its Statement of Values as it relates to allegations made during Oral Communications at the City Council February 3, 2026 meeting regarding the Vice Mayor, and consider any actions deemed appropriate.

Item 7.2
Tuesday, March 24, 2026 29 of 474
Vice Mayor Scozzola provided a statement.

Mayor Furtado asked if anyone from the public wished to speak.

Chris, spoke to the February 2 incident, and thanked the Council for their their consideration of this matter.

Juan Rodriguez, spoke in support of Councilmember Scozzola and asked the City Council not to take any action.

Councilmember Hines called on the City Council to remove the role of Vice Mayor from Councilmember Scozzola.

Councilmember Bybee stated the Vice Mayor failed to address the allegations and requested the Police Chief provide additional information.

Police Chief Berg stated the Police did follow up on the incident and provided information thereof.

After discussion, the City Council made a motion for Item 9.2.

MOVER Hines
SECONDER Bybee
That the City Council remove Mr. Scozzola from the role of Vice Mayor. The motion was adopted by roll call vote.

AYES (3): Lopez, Bybee, and Hines
NAYS (2): Furtado, and Scozzola
RESULT: ADOPTED BY ROLL CALL VOTE: (3 to 2)

10. UNFINISHED BUSINESS
There was no unfinished business.

11. COUNCIL COMMITTEE REPORTS

11.1 Council Committee Reports
That the City Council report on activities from their committee assignments.

Item 7.2
Tuesday, March 24, 2026 30 of 474
Councilmember Hines attended Susan Ellenberg's D4 State of the County; and the City of Cupertino State of the City.

Councilmember Lopez attended a Valley Transportation Authority Workshop on a proposed ballot measure.

Councilmember Bybee attended a meeting of the Campbell Historical Museum and Ainsley House Foundation.

Councilmember Scozzola made a motion to have staff research the strongest lobbying policy in practice today and bring forth options in three months time to possibly implement our own policy. The motion failed due to lack of a second.

Mayor Furtado attended a Leadership conference sponsored by Congressman Licardo; and was appointed to the US Mayors Water Council.

12. ADJOURN
Mayor Lopez adjourned the meeting at 8:47 p.m.

APPROVED: Daniel E. Furtado, Mayor
ATTEST: Andrea Sanders, City Clerk
Item 7.2
Tuesday, March 24, 2026 31 of 474
City Council Report
DATE: March 24, 2026
TITLE: Approving the Bills and Claims
RECOMMENDED ACTION:

Approve the bills and claims in the amount of $3,349,058.71

DISCUSSION
The bills and claims that have been audited and approved by staff for payments made as noted below:

FISCAL IMPACT
Requested action does not require a budget adjustment. Adequate funding was available to cover all expenses as listed.

PREPARED BY:

Celia Cruz Deniz, Accounting Clerk II
Item 7.3
Tuesday, March 24, 2026 32 of 474

Report Approval Details
Document Title: Report Approving Bills and Claims 03.24.26.docx Attachments: Payroll 02.12.26.pdf
B&C 02.16.26.pdf
B&C 02.23.26.pdf
Payroll 02.26.26.pdf
B&C 03.02.26.pdf
Final Approval Date: March 17, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.3
Tuesday, March 24, 2026 33 of 474
City Council Report
DATE: March 24, 2026
TITLE: Monthly Investment Transactions Report- February 2026 RECOMMENDED ACTION:

That the City Council review and accept the Monthly Investment Transactions Report for February 2026.

BACKGROUND
As required by California Government Code (GC) Section 53607, staff will submit to the City Council Monthly Investment Transaction Reports within 45 days of the prior month end that show a listing of investments purchased, sold, called, or reached maturity, along with any Local Agency Investment Fund (LAIF) or California Asset Management Program (CAMP) transfers. This is in addition to the Quarterly Investment Report, which shows several other items listed under Section VII.A of the City’s Investment Policy and is also submitted to the City Council within 45 days from the end of the prior quarter.

DISCUSSION
As detailed in Attachment 1, staff withdrew $1.7 million from the City’s primary Local Agency Investment Fund (LAIF) account to cover general operating expenditures.

Additionally, $39,000 was withdrawn from the Measure O 2022 LAIF bond account to cover January project expenditures. The monthly LAIF investment rate dropped to

3.871%.

In the City’s California Asset Management Program (CAMP) pooled account, staff withdrew another $2.7 million to cover operating expenses. Current month dividends totaling $42,000 were posted. For the Measure K escrow account, $673,000 was deposited, representing February’s Measure K sales tax remittance from the California Department of Tax and Fee Administration (CDTFA), and $13,000 in dividends were posted for the current month. The CAMP yield decreased to 3.65%.

Within the City’s BNY Mellon custodial account, managed by Chandler Asset Management, $340,000 in Corporate securities were purchased and one $200,000 Corporate bond was sold. The portfolio earned $62,000 in net interest, dividends and realized loss for the month. The average market Yield to Maturity (YTM) dropped to

3.65%.

Item 7.4
Tuesday, March 24, 2026 34 of 474

Chandler’s strategy continues to emphasize diversification, locking in longer-term rates as short-term LAIF and CAMP rates continue to slowly decline. Consistent with the FY 2025–26 Investment Strategy approved by City Council on September 16, 2025, staff and investment advisors are monitoring moderately long-term opportunities outside of LAIF and CAMP to secure the highest possible returns while maintaining safety and compliance with the City’s Investment Policy. All investment purchases adhere strictly to this policy.

FISCAL IMPACT
There is no fiscal impact associated with the review and acceptance of the Monthly Investment Transactions Report.

PREPARED BY: John Formale, Accountant
Item 7.4
Tuesday, March 24, 2026 35 of 474

Report Approval Details
Document Title: Report Monthly Investment Transactions Report- February 2026.docx
Attachments: Monthly Investment tranx rpt- Feb'26.pdf
Chandler BNY Investment Statement- 2.28.26.pdf
Final Approval
Date:

March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
Item 7.4
Tuesday, March 24, 2026 36 of 474

CITY OF CAMPBELL
Monthly Investment Transactions Report
February 1 to February 28 2026
Account Trans. Date February'26
LAIF - ******133, Main account
Average Monthly Yield 3.871%
Beginning Balance $ 14,752,747
Transactions
Withdrawal 2/13/2026 (600,000)
Withdrawal 2/23/2026 (1,050,000)
Net change (1,650,000)
Ending Balance $ 13,102,747
Account Trans. Date February'26
LAIF - ******032, MEAS O, Series 2022
Average Monthly Yield 3.871%
$ 3,996,782
2/13/2026 (39,000)
Beginning Balance
Transactions
Withdrawal- January project expenditures
Net change (39,000)
Ending Balance $ 3,957,782
Account Trans. Date February'26
CAMP - ******001, Regular
Average Monthly Yield 3.83%
Beginning Balance $ 15,748,630
Transactions
Withdrawal 2/9/2026 (500,000)
Withdrawal 2/11/2026 (1,100,000)
Withdrawal 2/20/2026 (1,050,000)
Dividends 2/27/2026 42,132
Net change (2,607,869)
Ending Balance $ 13,140,761
Account Trans. Date February'26
CAMP - ******002, Meas K Sales Tax escrow
Average Monthly Yield 3.83%
Beginning Balance $ 4,495,094
Transactions
Deposit-January sales tax receipts 2/26/2026 673,270
Dividends 2/27/2026 13,411
Net change 686,681
Ending Balance $ 5,181,775
February'26
Bank of New York (BNY) - ******818
Average Monthly Yield/Market YTM 3.65%
Beginning Balance 21,020,683
Note: Purchases listed at par value, see Chandler Monthly Statement for add'l detail Transactions Trans. Date
Purchase - Corporate; Alphabet, Inc- 4.10%, 5 yrs 2/17/2026 118,000 Purchase - Corporate; Alphabet, Inc- 4.10%, 5 yrs 2/17/2026 82,000 Purchase - Corporate; Visa, Inc- 4.10%, 5 yrs 2/17/2026 140,000 Sale- Corporate; American Honda Finance Corp- 4.90%, 7/9/2027 2/6/2026 (200,000) Interest 2/28/2026 67,441
Municipal Bond Interest 2/28/2026 4,613
Dividends 2/28/2026 1,785
Realized Loss 2/28/2026 (12,053)
Other 2/28/2026 644
MM transfers- Principle paydown, purchased/sold interest 2/28/2026 (140,000) Net change 62,429
Ending Balance 21,083,112
Item 7.4
Tuesday, March 24, 2026 37 of 474

MONTHLY ACCOUNT STATEMENT
City of Campbell | Account #11214 | As of February 28, 2026 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (03/01/25)
City of Campbell 0.85% 1.29% 1.10% 5.68% -- -- -- -- -- Benchmark Return 0.79% 1.15% 0.95% 5.20% -- -- -- -- -- Average Modified Duration 2.68
Average Coupon 3.98%
Average Purchase YTM 4.19%
Average Market YTM 3.65%
Average Credit Quality* AA
Average Final Maturity 3.18
Average Life 2.92
End Values as of
01/31/2026
End Values as of
02/28/2026
Market Value 21,246,024.32 21,437,498.22
Accrued Interest 179,911.24 159,681.86
Total Market Value 21,425,935.56 21,597,180.08
Income Earned 55,638.72 57,210.43
Cont/WD 10,441.77 (10,441.77)
Par 21,184,864.63 21,265,426.96
Book Value 21,055,385.76 21,136,411.21
Cost Value 21,039,295.50 21,114,755.64
United States 45.21%
Federal Home Loan Mortgage Corp 10.91%
Federal Home Loan Banks 2.34%
International Bank for Recon and Dev 2.25%
Toyota Motor Corporation 1.90%
American Express Credit Master Trust 1.75%
Mitsubishi UFJ Financial Group, Inc. 1.62%
BMW Vehicle Owner Trust 1.60%
**Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index *The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Book Value 21,055,385.76 20,540,867.11
Maturities/Calls 0.00 (3,250,000.00)
Principal Paydowns (46,879.53) (157,775.93)
Purchases 633,182.42 9,699,913.80
Sales (522,262.32) (5,750,270.08)
Change in Cash, Payables, Receivables 13,489.49 31,724.38 Amortization/Accretion 2,957.47 17,165.12
Realized Gain (Loss) 537.92 4,786.80
Ending Book Value 21,136,411.21 21,136,411.21
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Market Value 21,246,024.32 20,681,866.80
Maturities/Calls 0.00 (3,250,000.00)
Principal Paydowns (46,879.53) (157,775.93)
Purchases 633,182.42 9,699,913.80
Sales (522,262.32) (5,750,270.08)
Change in Cash, Payables, Receivables 13,489.49 31,724.38 Amortization/Accretion 2,957.47 17,165.12
Change in Net Unrealized Gain (Loss) 110,448.46 160,087.33 Realized Gain (Loss) 537.92 4,786.80
Ending Market Value 21,437,498.22 21,437,498.22
Maturities / Calls
Month to Date 0.00
Fiscal Year to Date (3,250,000.00)
Principal Paydowns
Month to Date (46,879.53)
Fiscal Year to Date (157,775.93)
Purchases
Month to Date 633,182.42
Fiscal Year to Date 9,699,913.80
Sales
Month to Date (522,262.32)
Fiscal Year to Date (5,750,270.08)
Interest Received
Month to Date 73,838.46
Fiscal Year to Date 550,685.87
Purchased / Sold Interest
Month to Date 643.88
Fiscal Year to Date (8,818.08)
Item 7.4
Tuesday, March 24, 2026 40 of 474
CONFIDENTIAL | 4
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
891940AC2 TAOT 2023-A A3 4.63
09/15/2027 38,710.71 11/14/20244.63%
38,725.83
38,715.65
100.20

3.92%
38,787.17

79.66 0.18%

71.52 NA/AAA
AAA

1.54 0.26
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 95,000.00 05/20/20254.84%
94,998.42
94,998.82
100.84

3.78%
95,800.57
132.95

0.45%
801.74
NA/AAA
AAA

2.23 1.00
379965AD8 GMALT 2025-3 A3 4.17
08/21/2028 90,000.00 08/05/20254.18%
89,986.32
89,988.80
100.57

3.75%
90,512.28
114.68

0.42%
523.48
NA/AAA
AAA

2.48 1.23
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 171,955.78 02/20/2025

4.63%
172,990.21
172,604.48
100.83

3.66%
173,389.89
379.07

0.81%
785.41
Aaa/NA
AAA

2.71 0.62
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 340,789.49 --4.69%
344,330.51
343,065.86
100.89

3.92%
343,817.75
294.22

1.60%
751.89
Aaa/AAA
NA

3.00 0.68
89239TAD4 TAOT 2024-D A3 4.4 06/15/2029 60,000.00 10/10/2024

4.51%
59,996.65
59,997.63
100.64

3.79%
60,385.92
117.33

0.28%
388.29
Aaa/AAA
NA

3.29 0.99
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027 200,000.00 02/20/20254.57%
200,546.88
200,313.49
101.33

3.68%
202,650.20
413.33

0.95%
2,336.71
NA/AAA
AAA

1.38 1.30
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 120,000.00 11/19/20244.66%
119,996.15
119,997.18
101.03

3.81%
121,236.12
245.87

0.57%
1,238.94
Aaa/NA
AAA

3.46 1.21
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029 60,000.00 10/08/20244.32%
59,988.44
59,991.72
100.54

3.84%
60,322.86
110.00

0.28%
331.14
Aaa/AAA
NA

3.46 0.89
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 100,000.00 03/04/2025

5.09%
99,993.71
99,995.06
100.80

3.66%
100,804.90
188.00

0.47%
809.84
Aaa/NA
AAA

3.55 1.32
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 110,000.00 10/17/20244.29%
109,983.65
109,988.09
100.98

3.69%
111,082.51
209.73

0.52%
1,094.42
Aaa/AAA
NA

3.63 1.54
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 65,000.00 04/24/20254.82%
64,996.28
64,996.96
100.93

3.76%
65,606.19
125.38

0.31%
609.23
NA/AAA
AAA

3.71 1.50
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029 80,000.00 01/09/20255.03%
79,994.06
79,995.42
101.02

3.75%
80,812.48
154.00

0.38%
817.06
Aaa/NA
AAA

3.80 1.11
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029 115,000.00 01/14/20254.84%
114,975.54
114,981.04
101.35

3.60%
116,556.99
244.31

0.54%
1,575.95
Aaa/NA
AAA

3.80 1.10
44935XAD7 HART 2025-B A3 4.36
12/17/2029 80,000.00 06/03/20254.36%
79,992.78
79,993.93
101.10

3.70%
80,880.24
155.02

0.38%
886.31
NA/AAA
AAA

3.80 1.57
58770YAD3 MBALT 2026-A A3 3.93
01/15/2030 60,000.00 01/13/20263.97%
59,988.10
59,988.42
100.39

3.76%
60,236.22
104.80

0.28%
247.80
Aaa/NA
AAA

3.88 1.96
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030 170,000.00 05/06/20254.28%
169,996.92
169,997.42
101.39

3.63%
172,360.62
323.38

0.80%
2,363.20
NA/AAA
AAA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total ABS 1,956,455.99 4.59%
1,961,480.45
1,959,609.96
100.96

3.75%
1,975,242.90
3,391.72

9.21%
15,632.93

3.09 1.16
AGENCY
3130B7QM9 FEDERAL HOME LOAN BANKS 3.5
09/09/2027 500,000.00 09/23/20253.63%
498,795.00
499,061.28
100.18

3.38%
500,904.50
8,263.89

2.34%
1,843.22
Aa1/AA+
AA+

1.53 1.44
Total Agency 500,000.00 3.63%
498,795.00
499,061.28
100.18

3.38%
500,904.50
8,263.89

2.34%
1,843.22

1.53 1.44

AGENCY CMBS
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 250,000.00 11/21/2024

4.53%
244,335.94
246,274.53
100.49

3.61%
251,225.00
812.50

1.17%
4,950.47
Aa1/AA+
AAA

2.49 2.30
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 250,000.00 06/10/2025

4.27%
246,992.19
247,659.74
100.52

3.62%
251,312.25
816.67

1.17%
3,652.51
Aa1/AA+
AAA

2.57 2.34
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 150,000.00 09/18/20243.82%
150,005.86
150,003.81
100.41

3.63%
150,607.95
482.38

0.70%
604.14
Aaa/AA+
AA+

2.74 2.51
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 300,000.00 11/14/20244.62%
287,074.22
290,936.24

99.50 3.63%
298,495.50
876.25

1.39%
7,559.26
Aa1/AAA
AA+

3.07 2.76
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029 147,560.65 10/16/20244.15%
140,597.64
142,686.97

98.06 3.62%
144,691.93
366.69

0.67%
2,004.96
Aa1/AA+
AAA

3.24 2.84
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029 250,000.00 03/13/20254.39%
234,707.03
238,171.84

97.34 3.64%
243,342.75
580.21

1.14%
5,170.91
Aa1/AA+
AAA

3.32 3.01
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029 300,000.00 10/17/20244.26%
276,445.31
283,130.84

96.04 3.65%
288,123.90
606.25

1.34%
4,993.06
Aa1/AA+
AAA

3.49 3.19
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030 275,000.00 03/17/20254.43%
244,868.16
250,832.47

93.46 3.70%
257,003.45
429.00

1.20%
6,170.98
Aa1/AA+
AAA

3.91 3.63
3137F62M8 FHMS K-118 A2 1.493
09/25/2030 250,000.00 01/29/20264.03%
223,632.81
224,105.06

90.74 3.74%
226,861.75
311.04

1.06%
2,756.69
Aa1/AA+
AAA

4.57 4.26
3137F83Q4 FHMS K-121 A2 1.547
10/25/2030 250,000.00 01/08/20264.00%
223,603.52
224,323.98

90.59 3.77%
226,477.00
322.29

1.06%
2,153.02
Aa1/AA+
AAA

4.65 4.38
Total Agency CMBS 2,422,560.65 4.29%
2,272,262.68
2,298,125.49

96.66 3.66%
2,338,141.48
5,603.27

10.91%
40,015.99

3.41 3.13
CASH
CCYUSD Receivable 32,102.17 -- 32,102.17
32,102.17

1.00 32,102.17

0.00 0.15%

0.00 Aaa/AAA
AAA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Cash 32,102.17
32,102.17
32,102.17

1.00 32,102.17

0.00 0.15%

0.00 0.00

0.00 COMMERCIAL
PAPER
62479MES8 MUFG Bank, Ltd., New York
Branch 05/26/2026 350,000.00 09/23/20253.99%
340,758.06
346,755.89

99.09 3.87%
346,827.95

0.00 1.62%

72.06 P-1/A-1
NA

0.24 0.23
Total Commercial
Paper 350,000.00 3.99%
340,758.06
346,755.89

99.09 3.87%
346,827.95

0.00 1.62%

72.06 0.24

0.23 CORPORATE
857477CP6 STATE STREET CORP 4.33
10/22/2027 250,000.00 11/07/20244.54%
248,537.50
249,185.99
100.98

3.71%
252,444.75
3,878.96

1.18%
3,258.76
Aa3/A
AA1.651.47
89115A3E0 TORONTO-DOMINION BANK

4.861 01/31/2028 225,000.00 01/28/20254.86%
225,000.00
225,000.00
101.88

3.83%
229,219.88
941.82

1.07%
4,219.88
A2/AAA1.92

1.81 17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028 250,000.00 03/11/20254.32%
251,557.50
251,031.40
101.57

3.72%
253,927.00
221.18

1.18%
2,895.60
A1/AANA1.99

1.80 00287YDY2 ABBVIE INC 4.65 03/15/2028 125,000.00 02/18/2025

4.70%
124,833.75
124,888.72
101.76

3.74%
127,200.00
2,680.21

0.59%
2,311.28
A2/ANA2.04

1.82 06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028 225,000.00 09/05/20244.31%
223,128.00
224,130.72
100.20

4.27%
225,439.65
1,946.10

1.05%
1,308.93
Aa3/A
AA2.291.23
46647PDG8 JPMORGAN CHASE & CO 4.851
07/25/2028 150,000.00 08/12/20244.62%
150,933.00
150,443.09
101.16

4.67%
151,737.90
727.65

0.71%
1,294.81
A1/A
AA2.411.34
46647PEU6 JPMORGAN CHASE & CO 4.915
01/24/2029 115,000.00 01/16/20254.92%
115,000.00
115,000.00
101.83

4.10%
117,099.90
580.93

0.55%
2,099.90
A1/A
AA2.911.79
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 150,000.00 01/17/20254.98%
150,000.00
150,000.00
101.79

4.17%
152,679.90
767.60

0.71%
2,679.90
A1/AAA2.91

1.79 06368MJG0 BANK OF MONTREAL 5.004
01/27/2029 100,000.00 01/22/20255.01%
100,000.00
100,000.00
101.96

4.07%
101,955.00
472.60

0.48%
1,955.00
A2/AAA2.91

1.80 91159HJK7 US BANCORP 4.653 02/01/2029 200,000.00 09/05/2024

4.47%
201,116.00
200,630.28
101.28

4.27%
202,550.40
775.50

0.94%
1,920.12
A3/A
A

2.93 1.81
756109CW2 REALTY INCOME CORP 3.95
02/01/2029 250,000.00 01/07/20264.01%
249,577.50
249,597.12
100.22

3.87%
250,547.50
822.92

1.17%
950.38
A3/ANA2.93

2.65 06051GLG2 BANK OF AMERICA CORP 5.202
04/25/2029 150,000.00 08/12/20244.69%
152,550.00
151,483.57
102.45

4.40%
153,681.90
2,731.05

0.72%
2,198.33
A1/AAA3.15

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
24422EXT1 JOHN DEERE CAPITAL CORP 4.85
06/11/2029 225,000.00 08/12/20244.40%
229,338.00
227,947.77
103.24

3.79%
232,291.35
2,425.00

1.08%
4,343.58
A1/A
A+

3.28 2.98
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 170,000.00 07/21/20254.35%
170,000.00
170,000.00
100.94

4.09%
171,600.04
842.40

0.80%
1,600.04
A2/AA3.39

2.24 89236TMK8 TOYOTA MOTOR CREDIT CORP

4.55 08/09/2029 225,000.00 08/12/20244.49%
225,567.00
225,391.17
102.24

3.85%
230,040.45
625.63

1.07%
4,649.28
A1/A+
A+

3.44 3.15
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 235,000.00 08/12/2024

4.22%
234,769.70
234,840.83
101.38

3.77%
238,234.78
466.08

1.11%
3,393.94
Aa3/A+
NA

3.46 3.11
26442CAY0 DUKE ENERGY CAROLINAS LLC

2.45 08/15/2029 250,000.00 12/18/20244.72%
226,517.50
232,553.88

95.39 3.89%
238,467.75
272.22

1.11%
5,913.87
Aa3/A
NA

3.46 3.26
61748UAK8 MORGAN STANLEY 4.133
10/18/2029 155,000.00 10/17/20254.25%
155,019.50
155,017.18
100.16

4.21%
155,240.25
2,295.54

0.72%
223.07
A1/AA+3.64

2.43 38141GD27 GOLDMAN SACHS GROUP INC

4.153 10/21/2029 105,000.00 10/14/20254.37%
105,000.00
105,000.00
100.03

4.25%
105,032.87
1,574.68

0.49%

32.87 A2/BBB+
A

3.64 2.44
14913UAU4 CATERPILLAR FINANCIAL
SERVICES CORP 4.7 11/15/2029 250,000.00 11/12/20244.74% 249,592.50
249,697.61
102.89

3.85%
257,220.00
3,459.72

1.20%
7,522.39
A2/A
A+

3.71 3.34
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 170,000.00 01/06/20255.00%
169,636.20
169,719.08
103.67

3.91%
176,243.42
1,215.50

0.82%
6,524.34
A1/A+
A+

3.86 3.47
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
250,000.00 02/20/2025

4.90%
250,550.00
250,434.81
103.60

3.95%
259,010.50
825.00

1.21%
8,575.69
A2/NA
A

3.94 3.48
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
250,000.00 03/24/2025

4.67%
249,755.00
249,801.01
101.99

4.11%
254,987.25
5,360.42

1.19%
5,186.25
A3/AA4.04

3.51 931142FN8 WALMART INC 4.35 04/28/2030 185,000.00 04/23/2025

4.39%
184,679.95
184,733.76
102.14

3.79%
188,965.29
2,749.56

0.88%
4,231.53
Aa2/AA
AA

4.16 3.66
69371RT71 PACCAR FINANCIAL CORP 4.55
05/08/2030 230,000.00 05/05/20254.59%
229,643.50
229,701.48
102.43

3.91%
235,579.11
3,284.85

1.10%
5,877.63
A1/A+
NA

4.19 3.74
30303MAB8 META PLATFORMS INC 4.2
11/15/2030 250,000.00 11/13/20254.16%
250,482.50
250,454.51
100.88

3.99%
252,198.75
3,441.67

1.18%
1,744.24
Aa3/AANA4.71

4.11 74340XCQ2 PROLOGIS LP 4.75 01/15/2031 250,000.00 01/14/2026

4.22%
255,812.50
255,666.78
103.17

4.03%
257,923.25
1,517.36

1.20%
2,256.47
A2/A
NA

4.88 4.24
92826CAZ5 VISA INC 4.1 02/12/2031 140,000.00 02/03/2026

4.13%
139,812.40
139,814.15
101.16

3.84%
141,623.16
302.94

0.66%
1,809.01
Aa3/AANA4.96

4.37 02079KBK2 ALPHABET INC 4.1 02/15/2031 200,000.00 02/12/2026

4.10%
200,011.33
200,011.25
100.66

3.95%
201,316.60
410.00

0.94%
1,305.35
Aa2/AA+
NA

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Corporate 5,730,000.00 4.50%
5,718,420.83
5,722,176.17
101.50

3.98%
5,814,458.59
47,615.07

27.12%
92,282.42

3.39 2.82

MONEY MARKET
FUND
X9USDDGCM DREYFUS GVT CM INST 44,308.15 --

3.56%
44,308.15
44,308.15

1.00 3.56%
44,308.15

0.00 0.21%

0.00 Aaa/
AAAm
NA

0.00 0.00
Total Money
Market Fund 44,308.15 3.56%
44,308.15
44,308.15

1.00 3.56%
44,308.15

0.00 0.21%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 205,000.00 10/30/20244.38%
206,080.35
205,779.98
102.97

3.57%
211,090.14
768.75

0.98%
5,310.16
Aa2/AAAA3.42

3.14 Total Municipal
Bonds 205,000.00 4.38%
206,080.35
205,779.98
102.97

3.57%
211,090.14
768.75

0.98%
5,310.16

3.42 3.14

SUPRANATIONAL
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
350,000.00 12/13/2024

4.29%
343,689.50
345,262.66
101.34

3.48%
354,673.20
5,085.50

1.65%
9,410.54
Aaa/AAA
NA

3.63 3.31
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
125,000.00 03/14/2025

4.20%
124,553.75
124,638.31
102.30

3.51%
127,880.25
2,305.99

0.60%
3,241.94
Aaa/AAA
NA

4.05 3.64
Total
Supranational 475,000.00 4.27%
468,243.25
469,900.96
101.59

3.49%
482,553.45
7,391.49

2.25%
12,652.49

3.74 3.40

US TREASURY
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 375,000.00 08/30/20243.90%
380,507.81
376,618.27
100.60

3.63%
377,258.63
6,527.73

1.76%
640.35
Aa1/AA+
AA+

0.63 0.60
91282CKE0 UNITED STATES TREASURY 4.25
03/15/2027 350,000.00 08/20/20243.86%
353,322.27
351,345.24
100.75

3.51%
352,613.80
6,862.22

1.64%
1,268.56
Aa1/AA+
AA+

1.04 0.99
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 375,000.00 08/08/20243.91%
379,804.69
377,249.67
101.23

3.45%
379,599.75
2,039.45

1.77%
2,350.08
Aa1/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 350,000.00 10/31/20244.17%
349,521.48
349,739.81
101.06

3.43%
353,718.75
6,028.85

1.65%
3,978.94
Aa1/AA+
AA+

1.59 1.49
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 375,000.00 08/08/20243.87%
376,552.73
375,872.59
101.15

3.40%
379,321.13

40.76 1.77%
3,448.54
Aa1/AA+
AA+

2.00 1.90
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 350,000.00 08/20/20243.76%
353,007.81
351,818.78
101.38

3.38%
354,839.80
2,320.44

1.66%
3,021.02
Aa1/AA+
AA+

2.34 2.20
91282CNU1 UNITED STATES TREASURY 3.625
08/15/2028 250,000.00 01/29/20263.60%
250,156.25
250,151.20
100.57

3.38%
251,425.75
350.48

1.17%
1,274.55
Aa1/AA+
AA+

2.46 2.33
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 375,000.00 08/08/20243.85%
389,765.63
384,324.15
103.74

3.39%
389,033.25
6,110.58

1.81%
4,709.10
Aa1/AA+
AA+

2.67 2.45
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028 250,000.00 01/29/20263.62%
249,169.92
249,193.64
100.30

3.39%
250,742.25
1,826.92

1.17%
1,548.61
Aa1/AA+
AA+

2.80 2.62
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 375,000.00 11/26/20244.21%
375,585.94
375,412.87
102.41

3.40%
384,038.25

43.31 1.79%
8,625.38
Aa1/AA+
AA+

3.00 2.80
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 350,000.00 11/18/20244.31%
347,498.05
348,231.52
102.10

3.40%
357,355.60
6,028.85

1.67%
9,124.08
Aa1/AA+
AA+

3.08 2.83
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 375,000.00 08/08/20243.84%
387,583.01
383,432.44
103.61

3.41%
388,549.88
5,797.22

1.81%
5,117.43
Aa1/AA+
AA+

3.17 2.89
91282CEV9 UNITED STATES TREASURY 3.25
06/30/2029 350,000.00 11/18/20244.31%
334,591.80
338,864.74

99.48 3.42%
348,168.10
1,885.36

1.62%
9,303.36
Aa1/AA+
AA+

3.33 3.11
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 350,000.00 08/20/20243.70%
354,634.77
353,204.54
101.85

3.42%
356,480.60
1,121.55

1.66%
3,276.06
Aa1/AA+
AA+

3.42 3.17
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 400,000.00 --3.60%
400,687.50
400,387.27
100.63

3.43%
402,500.00

39.40 1.88%
2,112.73
Aa1/AA+
AA+

3.50 3.26
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 400,000.00 --4.09%
389,617.18
392,364.51
100.21

3.44%
400,859.20
5,846.15

1.87%
8,494.69
Aa1/AA+
AA+

3.59 3.29
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 400,000.00 --4.33%
396,388.68
397,297.62
102.33

3.44%
409,312.40
5,515.19

1.91%
12,014.78
Aa1/AA+
AA+

3.67 3.34
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 400,000.00 12/11/20244.09%
400,546.88
400,413.02
102.36

3.45%
409,422.00
4,125.00

1.91%
9,008.98
Aa1/AA+
AA+

3.75 3.42
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 400,000.00 --4.45%
398,679.69
398,978.06
103.28

3.45%
413,109.20
2,900.55

1.93%
14,131.14
Aa1/AA+
AA+

3.84 3.49
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 300,000.00 04/07/20253.75%
303,375.00
302,767.95
102.00

3.47%
306,000.00
5,010.99

1.43%
3,232.05
Aa1/AA+
AA+

4.08 3.68
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 500,000.00 09/16/20253.57%
506,425.78
505,796.92
101.53

3.48%
507,656.50
6,476.17

2.37%
1,859.58
Aa1/AA+
AA+

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 350,000.00 06/09/20254.08%
348,742.19
348,925.04
102.04

3.48%
357,136.85
3,500.00

1.67%
8,211.81
Aa1/AA+
AA+

4.25 3.85
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 325,000.00 07/29/20253.95%
323,933.59
324,060.66
101.56

3.48%
330,065.45
2,087.36

1.54%
6,004.79
Aa1/AA+
AA+

4.33 3.94
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 225,000.00 08/26/20253.77%
226,081.05
225,969.28
101.57

3.49%
228,533.18
698.46

1.07%
2,563.90
Aa1/AA+
AA+

4.42 4.02
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 500,000.00 09/16/20253.58%
500,937.50
500,851.99
100.52

3.50%
502,597.50

49.25 2.34%
1,745.51
Aa1/AA+
AA+

4.50 4.12
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 150,000.00 12/09/20253.77%
148,154.30
148,236.62

99.95 3.51%
149,917.95
1,312.50

0.70%
1,681.33
Aa1/AA+
AA+

4.75 4.30
91282CPR6 UNITED STATES TREASURY 3.625
12/31/2030 350,000.00 01/29/20263.82%
347,033.20
347,082.76
100.46

3.52%
351,613.15
2,102.90

1.64%
4,530.39
Aa1/AA+
AA+

4.84 4.37
Total US Treasury 9,550,000.00 3.92%
9,572,304.70
9,558,591.15
101.50

3.45%
9,691,868.90
86,647.67

45.21%
133,277.75

3.20 2.94
Total Portfolio 21,265,426.96 4.19%
21,114,755.64
21,136,411.21
100.51

3.65%
21,437,498.22
159,681.86
100.00%
301,087.02

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 02/02/2026 X9USDDGCM 29,248.02 DREYFUS GVT CM INST 1.000 3.58% (29,248.02) 0.00 (29,248.02) 0.00 Purchase 02/03/2026 X9USDDGCM 10,441.77 DREYFUS GVT CM INST 1.000 3.57% (10,441.77) 0.00 (10,441.77) 0.00 Purchase 02/06/2026 X9USDDGCM 203,591.00 DREYFUS GVT CM INST 1.000 3.60% (203,591.00) 0.00 (203,591.00) 0.00 Purchase 02/09/2026 X9USDDGCM 11,306.25 DREYFUS GVT CM INST 1.000 3.54% (11,306.25) 0.00 (11,306.25) 0.00 Purchase 02/12/2026 92826CAZ5 140,000.00 VISA INC 4.1
02/12/2031 99.866 4.13% (139,812.40) 0.00 (139,812.40) 0.00 Purchase 02/17/2026 02079KBK2 82,000.00 ALPHABET INC 4.1 02/15/2031 99.951 4.11% (81,959.41) (37.36) (81,996.77) 0.00 Purchase 02/17/2026 02079KBK2 118,000.00 ALPHABET INC 4.1 02/15/2031 100.044 4.09% (118,051.92) (53.76) (118,105.68) 0.00 Purchase 02/20/2026 X9USDDGCM 675.33 DREYFUS GVT CM INST 1.000 3.56% (675.33) 0.00 (675.33) 0.00 Purchase 02/24/2026 X9USDDGCM 5,687.50 DREYFUS GVT CM INST 1.000 3.54% (5,687.50) 0.00 (5,687.50) 0.00 Purchase 02/25/2026 X9USDDGCM 7,182.93 DREYFUS GVT CM INST 1.000 3.56% (7,182.93) 0.00 (7,182.93) 0.00 Purchase 02/25/2026 X9USDDGCM 25,225.89 DREYFUS GVT CM INST 1.000 3.56% (25,225.89) 0.00 (25,225.89) 0.00 Total Purchase 633,358.69 (633,182.42) (91.12) (633,273.54) 0.00 TOTAL
ACQUISITIONS 633,358.69 (633,182.42) (91.12) (633,273.54) 0.00

DISPOSITIONS
Sale 02/02/2026 X9USDDGCM (10,441.77) DREYFUS GVT CM INST 1.000 3.58% 10,441.77 0.00 10,441.77 0.00 Sale 02/03/2026 X9USDDGCM (8,657.10) DREYFUS GVT CM INST 1.000 3.57% 8,657.10 0.00 8,657.10 0.00 Sale 02/06/2026 02665WFK2 (200,000.00)

AMERICAN HONDA
FINANCE CORP 4.9
07/09/2027
101.428 4.03% 202,856.00 (735.00) 203,591.00 537.91
Sale 02/12/2026 X9USDDGCM (139,812.40) DREYFUS GVT CM INST 1.000 3.57% 139,812.40 0.00 139,812.40 0.00 Sale 02/17/2026 X9USDDGCM (74,220.37) DREYFUS GVT CM INST 1.000 3.56% 74,220.37 0.00 74,220.37 0.00 Sale 02/17/2026 X9USDDGCM (86,274.68) DREYFUS GVT CM INST 1.000 3.56% 86,274.68 0.00 86,274.68 0.00 Total Sale (519,406.32) 522,262.32 (735.00) 522,997.32 537.91 TOTAL
DISPOSITIONS (519,406.32) 522,262.32 (735.00) 522,997.32 537.91 Item 7.4
Tuesday, March 24, 2026 48 of 474
CONFIDENTIAL | 12
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
OTHER

TRANSACTIONS
Cash Transfer 02/03/2026 CCYUSD (10,441.77) Cash 0.00% (10,441.77) 0.00 (10,441.77) 0.00 Total Cash
Transfer (10,441.77) (10,441.77) 0.00 (10,441.77) 0.00
Coupon 02/01/2026 3137FLN91 0.00 FHMS K-091 A2 3.505
03/25/2029 4.62% 876.25 0.00 876.25 0.00
Coupon 02/01/2026 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.53% 812.50 0.00 812.50 0.00
Coupon 02/01/2026 91159HJK7 0.00 US BANCORP 4.653
02/01/2029 4.47% 4,653.00 0.00 4,653.00 0.00
Coupon 02/01/2026 3137FRUJ8 0.00 FHMS K-105 A2 1.872
01/25/2030 4.43% 429.00 0.00 429.00 0.00
Coupon 02/01/2026 3137FNAE0 0.00 FHMS K-095 A2 2.785
06/25/2029 4.39% 580.21 0.00 580.21 0.00
Coupon 02/01/2026 13063EGT7 0.00 CALIFORNIA STATE 4.5
08/01/2029 4.38% 4,612.50 0.00 4,612.50 0.00
Coupon 02/01/2026 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 4.27% 816.67 0.00 816.67 0.00
Coupon 02/01/2026 3137FPHK4 0.00 FHMS K-098 A2 2.425
08/25/2029 4.26% 606.25 0.00 606.25 0.00
Coupon 02/01/2026 3137FMCR1 0.00 FHMS K-093 A2 2.982
05/25/2029 4.15% 367.10 0.00 367.10 0.00
Coupon 02/01/2026 3137F62M8 0.00 FHMS K-118 A2 1.493
09/25/2030 4.03% 311.04 0.00 311.04 0.00
Coupon 02/01/2026 756109CW2 0.00 REALTY INCOME CORP

3.95 02/01/2029 4.01% 3,154.51 0.00 3,154.51 0.00
Coupon 02/01/2026 3137F83Q4 0.00 FHMS K-121 A2 1.547
10/25/2030 4.00% 322.29 0.00 322.29 0.00
Coupon 02/01/2026 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 3.82% 482.37 0.00 482.37 0.00
Item 7.4
Tuesday, March 24, 2026 49 of 474
CONFIDENTIAL | 13
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 02/07/2026 63743HFX5 0.00

NATIONAL RURAL

UTILITIES COOPERATIVE
FINANCE CORP 4.95
02/07/2030

4.90% 6,187.50 0.00 6,187.50 0.00
Coupon 02/09/2026 89236TMK8 0.00 TOYOTA MOTOR CREDIT
CORP 4.55 08/09/2029 4.49% 5,118.75 0.00 5,118.75 0.00
Coupon 02/14/2026 532457CQ9 0.00 ELI LILLY AND CO 4.2
08/14/2029 4.22% 4,935.00 0.00 4,935.00 0.00
Coupon 02/15/2026 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 5.09% 352.50 0.00 352.50 0.00
Coupon 02/15/2026 58773DAD6 0.00 MBART 2025-1 A3 4.78
12/17/2029 4.84% 458.08 0.00 458.08 0.00
Coupon 02/15/2026 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 4.82% 235.08 0.00 235.08 0.00
Coupon 02/15/2026 26442CAY0 0.00

DUKE ENERGY
CAROLINAS LLC 2.45
08/15/2029

4.72% 3,062.50 0.00 3,062.50 0.00
Coupon 02/15/2026 34535VAD6 0.00 FORDO 2024-D A3 4.61
08/15/2029 4.66% 461.00 0.00 461.00 0.00
Coupon 02/15/2026 47800RAD5 0.00 JDOT 2024 A3 4.96
11/15/2028 4.63% 774.60 0.00 774.60 0.00
Coupon 02/15/2026 891940AC2 0.00 TAOT 2023-A A3 4.63
09/15/2027 4.63% 173.30 0.00 173.30 0.00
Coupon 02/15/2026 02589BAE0 0.00 AMXCA 2024-3 A 4.65
07/15/2027 4.57% 775.00 0.00 775.00 0.00
Coupon 02/15/2026 89239TAD4 0.00 TAOT 2024-D A3 4.4
06/15/2029 4.51% 220.00 0.00 220.00 0.00
Coupon 02/15/2026 44935XAD7 0.00 HART 2025-B A3 4.36
12/17/2029 4.36% 290.67 0.00 290.67 0.00
Coupon 02/15/2026 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 393.25 0.00 393.25 0.00
Coupon 02/15/2026 02582JKP4 0.00 AMXCA 2025-2 A 4.28
04/15/2030 4.28% 606.33 0.00 606.33 0.00
Item 7.4
Tuesday, March 24, 2026 50 of 474
CONFIDENTIAL | 14
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 02/15/2026 58770YAD3 0.00 MBALT 2026-A A3 3.93
01/15/2030 3.97% 157.20 0.00 157.20 0.00
Coupon 02/15/2026 91282CNU1 0.00

UNITED STATES
TREASURY 3.625
08/15/2028

3.60% 4,531.25 0.00 4,531.25 0.00
Coupon 02/16/2026 362955AD8 0.00 GMCAR 2025-1 A3 4.62
12/17/2029 5.03% 308.00 0.00 308.00 0.00
Coupon 02/16/2026 38014AAD3 0.00 GMCAR 2024-4 A3 4.4
08/16/2029 4.32% 220.00 0.00 220.00 0.00
Coupon 02/20/2026 362962AD4 0.00 GMALT 2025-2 A3 4.58
05/22/2028 4.84% 362.58 0.00 362.58 0.00
Coupon 02/20/2026 379965AD8 0.00 GMALT 2025-3 A3 4.17
08/21/2028 4.18% 312.75 0.00 312.75 0.00
Coupon 02/24/2026 17275RBW1 0.00 CISCO SYSTEMS INC

4.55 02/24/2028 4.32% 5,687.50 0.00 5,687.50 0.00
Coupon 02/25/2026 096919AD7 0.00 BMWOT 2024-A A3

5.18 02/26/2029 4.69% 1,579.25 0.00 1,579.25 0.00
Coupon 02/28/2026 91282CKD2 0.00

UNITED STATES
TREASURY 4.25
02/28/2029

4.21% 7,968.75 0.00 7,968.75 0.00
Coupon 02/28/2026 91282CGP0 0.00

UNITED STATES
TREASURY 4.0
02/29/2028

3.87% 7,500.00 0.00 7,500.00 0.00
Coupon 02/28/2026 91282CLK5 0.00

UNITED STATES
TREASURY 3.625
08/31/2029

3.60% 7,250.00 0.00 7,250.00 0.00
Coupon 02/28/2026 91282CNX5 0.00

UNITED STATES
TREASURY 3.625
08/31/2030

3.58% 9,062.50 0.00 9,062.50 0.00
Total Coupon 0.00 87,007.03 0.00 87,007.03 0.00
Dividend 02/28/2026 X9USDDGCM 0.00 DREYFUS GVT CM INST 3.56% 320.92 0.00 320.92 0.00 Total Dividend 0.00 320.92 0.00 320.92 0.00
Principal Paydown 02/01/2026 3137FMCR1 165.69 FHMS K-093 A2 2.982 05/25/2029 4.15% 165.69 -- 165.69 (0.00)
Item 7.4
Tuesday, March 24, 2026 51 of 474
CONFIDENTIAL | 15
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Principal Paydown 02/15/2026 47800RAD5 15,448.02 JDOT 2024 A3 4.96 11/15/2028 4.63% 15,448.02 -- 15,448.02 0.00
Principal Paydown 02/15/2026 891940AC2 6,205.62 TAOT 2023-A A3 4.63 09/15/2027 4.63% 6,205.62 -- 6,205.62 0.00
Principal Paydown 02/25/2026 096919AD7 25,060.20 BMWOT 2024-A A3

5.18 02/26/2029 4.69% 25,060.20 -- 25,060.20 0.00
Total Principal
Paydown 46,879.53 46,879.53 -- 46,879.53 0.00

TOTAL OTHER
TRANSACTIONS 36,437.76 123,765.71 0.00 123,765.71 0.00
Item 7.4
Tuesday, March 24, 2026 52 of 474
CONFIDENTIAL | 16
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
CCYUSD Receivable
32,102.17
18,612.68

0.00 0.00
32,102.17

0.00 0.00

0.00 X9USDDGCM DREYFUS GVT CM INST
44,308.15
70,355.78
293,358.69
(319,406.32)
44,308.15

0.00 1,784.67

0.00 0.00

0.00 1,784.67
1,784.67
Total Cash & Equivalents 76,410.32
88,968.46
293,358.69
(319,406.32)
76,410.32

0.00 1,784.67

0.00 0.00

0.00 1,784.67 1,784.67

FIXED INCOME
00287YDY2 ABBVIE INC 4.65 03/15/2028
02/18/2025
02/26/2025
125,000.00
124,884.54

0.00 0.00
124,888.72
2,195.83

0.00 2,680.21
484.38

4.18 0.00

4.18 488.56
488.56
02079KBK2 ALPHABET INC 4.1
02/15/2031
02/12/2026
02/17/2026
200,000.00

0.00 200,011.33

0.00 200,011.25

0.00 (91.12)
410.00
318.88

0.27 (0.35)
(0.08)
318.80
318.80
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029
07/21/2025
07/25/2025
170,000.00
170,000.00

0.00 0.00
170,000.00
226.01

0.00 842.40
616.39

0.00 0.00

0.00 616.39
616.39
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030
05/06/2025
05/13/2025
170,000.00
169,997.37

0.00 0.00
169,997.42
323.38
606.33
323.38
606.33

0.05 0.00

0.05 606.38
606.38
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027
02/20/2025
02/21/2025
200,000.00
200,331.01

0.00 0.00
200,313.49
413.33
775.00
413.33
775.00

0.00 202,340.46

0.00 (202,318.09)

0.00 598.89
735.00

0.00 136.11

0.00 (22.38)
(22.38)
113.74
113.74
06051GLG2 BANK OF AMERICA CORP

5.202 04/25/2029
08/12/2024
08/13/2024
150,000.00
151,536.42

0.00 0.00
151,483.57
2,080.80

0.00 2,731.05
650.25

0.00 (52.85)
(52.85)
597.40
597.40
06051GMK2 BANK OF AMERICA CORP

4.979 01/24/2029
01/17/2025
01/24/2025
150,000.00
150,000.00

0.00 0.00
150,000.00
145.22

0.00 767.60
622.38

0.00 0.00

0.00 622.38
622.38
06368MJG0 BANK OF MONTREAL 5.004
01/27/2029
01/22/2025
01/27/2025
100,000.00
100,000.00

0.00 0.00
100,000.00

55.60 0.00
472.60
417.00

0.00 0.00

0.00 417.00
417.00
06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028
09/05/2024
09/06/2024
225,000.00
224,078.83

0.00 0.00
224,130.72
1,197.60

0.00 1,946.10
748.50

51.90 0.00

51.90 800.40
800.40
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 340,789.49
368,384.08

0.00 (25,060.20)
343,065.86
315.85
1,579.25
294.22
1,557.61

0.00 (258.02)
(258.02)
1,299.59
1,299.59
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
205,000.00
205,797.46

0.00 0.00
205,779.98
4,612.50
4,612.50
768.75
768.75

0.00 (17.49)
(17.49)
751.26
751.26
14913UAU4

CATERPILLAR FINANCIAL
SERVICES CORP 4.7
11/15/2029
11/12/2024
11/15/2024
250,000.00
249,691.36

0.00 0.00
249,697.61
2,480.56

0.00 3,459.72
979.17

6.25 0.00

6.25 985.42
985.42
17275RBW1 CISCO SYSTEMS INC 4.55
02/24/2028
03/11/2025
03/12/2025
250,000.00
251,073.01

0.00 0.00
251,031.40
4,960.76
5,687.50
221.18
947.92

4.85 06/11/2029
08/12/2024
08/13/2024
225,000.00
228,016.67

0.00 0.00
227,947.77
1,515.63

0.00 2,425.00
909.38

0.00 (68.90)
(68.90)
840.48
840.48
26442CAY0 DUKE ENERGY CAROLINAS
LLC 2.45 08/15/2029
12/18/2024
12/19/2024
250,000.00
232,167.11

0.00 0.00
232,553.88
2,824.31
3,062.50
272.22
510.42
386.77

0.00 386.77
897.19
897.19
30303MAB8 META PLATFORMS INC 4.2
11/15/2030
11/13/2025
11/17/2025
250,000.00
250,462.05

0.00 0.00
250,454.51
2,566.67

0.00 3,441.67
875.00

0.00 (7.53)
(7.53)
867.47
867.47
3130B7QM9 FEDERAL HOME LOAN BANKS

3.5 09/09/2027
09/23/2025
09/24/2025
500,000.00
499,014.09

0.00 0.00
499,061.28
6,805.56

0.00 8,263.89
1,458.33

47.19 0.00

47.19 1,505.52
1,505.52
3137F62M8 FHMS K-118 A2 1.493
09/25/2030
01/29/2026
01/30/2026
250,000.00
223,664.29

0.00 0.00
224,105.06
311.04
311.04
311.04
311.04
440.77

0.00 440.77
751.81
751.81
3137F83Q4 FHMS K-121 A2 1.547
10/25/2030
01/08/2026
01/13/2026
250,000.00
223,894.77

0.00 0.00
224,323.98
322.29
322.29
322.29
322.29
429.21

0.00 429.21
751.50
751.50
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
11/21/2024
11/26/2024
250,000.00
246,156.53

0.00 0.00
246,274.53
812.50
812.50
812.50
812.50
118.00

0.00 118.00
930.50
930.50
3137FJKE8 FHMS K-082 A2 3.92
09/25/2028
06/10/2025
06/13/2025
250,000.00
247,588.13

0.00 0.00
247,659.74
816.67
816.67
816.67
816.67

71.61 0.00

71.61 888.28
888.28
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028
09/18/2024
09/23/2024
150,000.00
150,003.92

0.00 0.00
150,003.81
482.38
482.37
482.38
482.37

0.00 0.00
290,936.24
876.25
876.25
876.25
876.25
231.56

0.00 231.56
1,107.81
1,107.81
3137FMCR1 FHMS K-093 A2 2.982
05/25/2029
10/16/2024
10/21/2024
147,560.65
142,729.11

0.00 (165.69)
142,686.97
367.10
367.10
366.69
366.69
123.55

0.00 123.55
490.24
490.24
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029
03/13/2025
03/18/2025
250,000.00
237,893.07

0.00 0.00
238,171.84
580.21
580.21
580.21
580.21
278.78

0.00 278.78
858.99
858.99
3137FPHK4 FHMS K-098 A2 2.425
08/25/2029
10/17/2024
10/22/2024
300,000.00
282,752.67

0.00 0.00
283,130.84
606.25
606.25
606.25
606.25
378.17

0.00 378.17
984.42
984.42
3137FRUJ8 FHMS K-105 A2 1.872
01/25/2030
03/17/2025
03/20/2025
275,000.00
250,349.81

0.00 0.00
250,832.47
429.00
429.00
429.00
429.00
482.66

0.00 482.66
911.66
911.66
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029
11/19/2024
11/22/2024
120,000.00
119,997.12

0.00 0.00
119,997.18
245.87
461.00
245.87
461.00

0.06 0.00

0.06 461.06
461.06
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029
01/09/2025
01/15/2025
80,000.00
79,995.32

0.00 0.00
79,995.42
154.00
308.00
154.00
308.00

0.09 0.00

0.09 308.09
308.09
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028
05/20/2025
05/29/2025
95,000.00
94,998.78

0.00 0.00
94,998.82
132.95
362.58
132.95
362.58

0.04 0.00

0.04 362.62
362.62
379965AD8 GMALT 2025-3 A3 4.17
08/21/2028
08/05/2025
08/13/2025
90,000.00
89,988.45

0.00 0.00
89,988.80
114.68
312.75
114.68
312.75

0.35 0.00

0.00 0.00
59,991.72
110.00
220.00
110.00
220.00

0.18 0.00

0.18 220.18
220.18
38141GD27 GOLDMAN SACHS GROUP
INC 4.153 10/21/2029
10/14/2025
10/21/2025
105,000.00
105,000.00

0.00 0.00
105,000.00
1,211.29

0.00 1,574.68
363.39

0.00 0.00

0.00 363.39
363.39
44935XAD7 HART 2025-B A3 4.36
12/17/2029
06/03/2025
06/11/2025
80,000.00
79,993.81

0.00 0.00
79,993.93
155.02
290.67
155.02
290.67

0.12 0.00

0.12 290.79
290.79
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
12/13/2024
12/16/2024
350,000.00
345,162.55

0.00 0.00
345,262.66
3,955.00

0.00 5,085.50
1,130.50
100.11

0.00 100.11
1,230.61
1,230.61
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
125,000.00
124,631.47

0.00 0.00
124,638.31
1,876.30

0.00 2,305.99
429.69

6.84 0.00

6.84 436.53
436.53
46647PDG8 JPMORGAN CHASE & CO

4.851 07/25/2028
08/12/2024
08/13/2024
150,000.00
150,467.37

0.00 0.00
150,443.09
121.28

0.00 727.65
606.38

0.00 (24.28)
(24.28)
582.10
582.10
46647PEU6 JPMORGAN CHASE & CO

4.915 01/24/2029
01/16/2025
01/24/2025
115,000.00
115,000.00

0.00 0.00
115,000.00
109.90

0.00 580.93
471.02

0.00 0.00

0.00 471.02
471.02
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
100,000.00
99,994.96

0.00 0.00
99,995.06
188.00
352.50
188.00
352.50

0.11 0.00

0.11 352.61
352.61
47800RAD5 JDOT 2024 A3 4.96
11/15/2028
02/20/2025
02/21/2025
171,955.78
188,141.05

0.00 (15,448.02)
172,604.48
413.12
774.60
379.07
740.55

0.00 0.00
234,840.83
4,578.58
4,935.00
466.08
822.50

3.53 0.00

3.53 826.03
826.03
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
03/24/2025
03/25/2025
250,000.00
249,797.23

0.00 0.00
249,801.01
4,391.67

0.00 5,360.42
968.75

3.78 0.00

3.78 972.53
972.53
58770YAD3 MBALT 2026-A A3 3.93
01/15/2030
01/13/2026
01/21/2026
60,000.00
59,988.19

0.00 0.00
59,988.42

65.50 157.20
104.80
196.50

0.23 0.00

0.23 196.73
196.73
58773DAD6 MBART 2025-1 A3 4.78
12/17/2029
01/14/2025
01/23/2025
115,000.00
114,980.65

0.00 0.00
114,981.04
244.31
458.08
244.31
458.08

0.38 0.00

0.38 458.46
458.46
61748UAK8 MORGAN STANLEY 4.133
10/18/2029
10/17/2025
10/22/2025
155,000.00
155,017.68

0.00 0.00
155,017.18
1,761.69

0.00 2,295.54
533.85

0.00 (0.50)
(0.50)
533.35
533.35
62479MES8 MUFG Bank, Ltd., New York
Branch 05/26/2026
09/23/2025
09/23/2025
350,000.00
345,699.67

0.00 0.00
346,755.89

0.00 0.00

0.00 0.00
1,056.22

0.00 1,056.22
1,056.22
1,056.22
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
02/20/2025
02/21/2025
250,000.00
250,443.46

0.00 0.00
250,434.81
5,981.25
6,187.50
825.00
1,031.25

0.00 (8.65)
(8.65)
1,022.60
1,022.60
69371RT71 PACCAR FINANCIAL CORP

4.55 05/08/2030
05/05/2025
05/08/2025
230,000.00
229,696.02

0.00 0.00
229,701.48
2,412.76

0.00 3,284.85
872.08

5.47 0.00

5.47 877.55
877.55
74340XCQ2 PROLOGIS LP 4.75
01/15/2031
01/14/2026
01/15/2026
250,000.00
255,757.45

0.00 0.00
255,666.78
527.78

0.00 1,517.36
989.58

0.00 0.00
249,597.12
3,154.51
3,154.51
822.92
822.91

10.56 0.00

10.56 833.48
833.48
857477CP6 STATE STREET CORP 4.33
10/22/2027
11/07/2024
11/08/2024
250,000.00
249,148.01

0.00 0.00
249,185.99
2,976.88

0.00 3,878.96
902.08

37.99 0.00

37.99 940.07
940.07
89115A3E0 TORONTO-DOMINION BANK

4.861 01/31/2028
01/28/2025
01/31/2025
225,000.00
225,000.00

0.00 0.00
225,000.00

30.38 5,468.63
941.82
6,380.07

0.00 0.00

0.00 6,380.07
6,380.07
891940AC2 TAOT 2023-A A3 4.63
09/15/2027
11/14/2024
11/15/2024
38,710.71
44,922.76

0.00 (6,205.62)
38,715.65

92.43 173.30

79.66 160.53

0.00 (1.49)
(1.49)
159.04
159.04
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029
04/24/2025
04/30/2025
65,000.00
64,996.90

0.00 0.00
64,996.96
125.38
235.08
125.38
235.08

0.06 0.00

0.06 235.14
235.14
89236TMK8 TOYOTA MOTOR CREDIT
CORP 4.55 08/09/2029
08/12/2024
08/13/2024
225,000.00
225,399.89

0.00 0.00
225,391.17
4,891.25
5,118.75
625.63
853.13

0.00 (8.71)
(8.71)
844.41
844.41
89236TNA9 TOYOTA MOTOR CREDIT
CORP 4.95 01/09/2030
01/06/2025
01/09/2025
170,000.00
169,713.50

0.00 0.00
169,719.08
514.25

0.00 1,215.50
701.25

5.58 0.00

5.58 706.83
706.83
89239TAD4 TAOT 2024-D A3 4.4
06/15/2029
10/10/2024
10/17/2024
60,000.00
59,997.58

0.00 0.00
59,997.63
117.33
220.00
117.33
220.00

0.06 0.00

0.06 220.06
220.06
91159HJK7 US BANCORP 4.653
02/01/2029
09/05/2024
09/06/2024
200,000.00
200,655.41

0.00 0.00
200,630.28
4,653.00
4,653.00
775.50
775.50

3.25 06/30/2029
11/18/2024
11/19/2024
350,000.00
338,608.55

0.00 0.00
338,864.74
1,005.52

0.00 1,885.36
879.83
256.19

0.00 256.19
1,136.03
1,136.03
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
10/31/2024
11/01/2024
350,000.00
349,727.20

0.00 0.00
349,739.81
4,918.27

0.00 6,028.85
1,110.58

12.60 0.00

12.60 1,123.18
1,123.18
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028
08/08/2024
08/09/2024
375,000.00
375,906.06

0.00 0.00
375,872.59
6,381.22

0.00 40.76
(6,340.45)

0.00 (33.47)
(33.47)
(6,373.92)
(6,373.92)
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028
08/20/2024
08/21/2024
350,000.00
351,878.55

0.00 0.00
351,818.78
1,237.57

0.00 2,320.44
1,082.87

0.00 (59.77)
(59.77)
1,023.10
1,023.10
91282CJC6 UNITED STATES TREASURY

4.625 10/15/2026
08/30/2024
08/30/2024
375,000.00
376,817.01

0.00 0.00
376,618.27
5,193.60

0.00 6,527.73
1,334.13

0.00 (198.74)
(198.74)
1,135.40
1,135.40
91282CJF9 UNITED STATES TREASURY

4.875 10/31/2028
08/08/2024
08/09/2024
375,000.00
384,591.92

0.00 0.00
384,324.15
4,696.56

0.00 6,110.58
1,414.02

0.00 (267.77)
(267.77)
1,146.25
1,146.25
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
11/26/2024
11/27/2024
375,000.00
375,423.43

0.00 0.00
375,412.87
6,780.04

0.00 43.31
(6,736.73)

0.00 (10.56)
(10.56)
(6,747.29)
(6,747.29)
91282CKE0 UNITED STATES TREASURY

4.25 03/15/2027
08/20/2024
08/21/2024
350,000.00
351,444.62

0.00 0.00
351,345.24
5,711.67

0.00 6,862.22
1,150.55

0.00 (99.38)
(99.38)
1,051.17
1,051.17
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029
11/18/2024
11/19/2024
350,000.00
348,187.54

0.00 0.00
348,231.52
4,918.27

0.00 6,028.85
1,110.58

43.98 0.00

4.625 04/30/2029
08/08/2024
08/09/2024
375,000.00
383,636.69

0.00 0.00
383,432.44
4,455.71

0.00 5,797.22
1,341.51

0.00 (204.25)
(204.25)
1,137.26
1,137.26
91282CKZ3 UNITED STATES TREASURY

4.375 07/15/2027
08/08/2024
08/09/2024
375,000.00
377,375.40

0.00 0.00
377,249.67
770.46

0.00 2,039.45
1,268.99

0.00 (125.73)
(125.73)
1,143.26
1,143.26
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029
08/20/2024
08/21/2024
350,000.00
353,276.44

0.00 0.00
353,204.54

38.67 7,000.00
1,121.55
8,082.87

0.00 (71.90)
(71.90)
8,010.98
8,010.98
91282CLK5 UNITED STATES TREASURY

3.625 08/31/2029 400,000.00
400,395.75

0.00 0.00
400,387.27
6,168.51

0.00 39.40
(6,129.11)

33.23 (41.71)
(8.48)
(6,137.58)
(6,137.58)
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 400,000.00
392,201.18

0.00 0.00
392,364.51
4,769.23

0.00 5,846.15
1,076.92
163.33

0.00 163.33
1,240.25
1,240.25
91282CLR0 UNITED STATES TREASURY

4.125 10/31/2029 400,000.00
397,241.16

0.00 0.00
397,297.62
4,238.95

0.00 5,515.19
1,276.24

56.47 0.00

56.47 1,332.71
1,332.71
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/11/2024
12/12/2024
400,000.00
400,421.47

0.00 0.00
400,413.02
2,855.77

0.00 4,125.00
1,269.23

0.00 (8.44)
(8.44)
1,260.79
1,260.79
91282CMD0 UNITED STATES TREASURY

4.375 12/31/2029 400,000.00
398,957.64

0.00 0.00
398,978.06
1,546.96

0.00 2,900.55
1,353.59

23.27 (2.85)

20.42 1,374.02
1,374.02
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030
04/07/2025
04/08/2025
300,000.00
302,819.93

0.00 0.00
302,767.95
4,087.91

0.00 5,010.99
923.08

3.875 04/30/2030
09/16/2025
09/17/2025
500,000.00
505,903.64

0.00 0.00
505,796.92
4,977.56

0.00 6,476.17
1,498.62

0.00 (106.72)
(106.72)
1,391.90
1,391.90
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030
06/09/2025
06/10/2025
350,000.00
348,905.65

0.00 0.00
348,925.04
2,423.08

0.00 3,500.00
1,076.92

19.39 0.00

19.39 1,096.32
1,096.32
91282CNK3 UNITED STATES TREASURY

3.875 06/30/2030
07/29/2025
07/30/2025
325,000.00
324,044.03

0.00 0.00
324,060.66
1,113.26

0.00 2,087.36
974.10

16.63 0.00

16.63 990.73
990.73
91282CNN7 UNITED STATES TREASURY

3.875 07/31/2030
08/26/2025
08/27/2025
225,000.00
225,986.11

0.00 0.00
225,969.28

24.08 4,359.38
698.46
5,033.76

0.00 (16.83)
(16.83)
5,016.93
5,016.93
91282CNU1 UNITED STATES TREASURY

3.625 08/15/2028
01/29/2026
01/30/2026
250,000.00
250,155.91

0.00 0.00
250,151.20
4,186.48
4,531.25
350.48
695.25

0.00 (4.71)
(4.71)
690.54
690.54
91282CNX5 UNITED STATES TREASURY

3.625 08/31/2030
09/16/2025
09/17/2025
500,000.00
500,866.50

0.00 0.00
500,851.99
7,710.64

0.00 49.25
(7,661.38)

0.00 (14.51)
(14.51)
(7,675.89)
(7,675.89)
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030
12/09/2025
12/10/2025
150,000.00
148,208.17

0.00 0.00
148,236.62
908.65

0.00 1,312.50
403.85

28.46 0.00

28.46 432.30
432.30
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028
01/29/2026
01/30/2026
250,000.00
249,171.50

0.00 0.00
249,193.64
1,153.85

0.00 1,826.92
673.08

22.14 0.00

22.14 695.21
695.21
91282CPR6 UNITED STATES TREASURY

3.625 12/31/2030
01/29/2026
01/30/2026
350,000.00
347,036.50

0.00 0.00
347,082.76
1,121.55

0.00 2,102.90
981.35

46.25 0.00

0.00 139,812.40

0.00 139,814.15

0.00 0.00
302.94
302.94

1.75 0.00

1.75 304.69
304.69
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029
10/17/2024
10/24/2024
110,000.00
109,987.83

0.00 0.00
109,988.09
209.73
393.25
209.73
393.25

0.25 0.00

0.25 393.50
393.50
931142FN8 WALMART INC 4.35
04/28/2030
04/23/2025
04/28/2025
185,000.00
184,728.85

0.00 0.00
184,733.76
2,078.94

0.00 2,749.56
670.63

4.91 0.00

4.91 675.53
675.53
Total Fixed Income 21,189,016.64
20,966,417.30
339,823.73
(249,197.61)
21,060,000.89
179,911.24
72,697.67
159,681.86
52,468.29
5,011.52
(2,054.05)
2,957.47
55,425.76 55,425.76
TOTAL PORTFOLIO 21,265,426.96
21,055,385.76
633,182.42
(568,603.93)
21,136,411.21
179,911.24
74,482.34
159,681.86
54,252.96
5,011.52
(2,054.05)
2,957.47
57,210.43 57,210.43
Item 7.4
Tuesday, March 24, 2026 63 of 474
CONFIDENTIAL | 27
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount MARCH 2026
03/02/2026 Coupon 91282CNX5 0.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 03/02/2026 Coupon 91282CLK5 0.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 03/02/2026 Coupon 91282CKD2 0.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 03/02/2026 Coupon 91282CGP0 0.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 03/02/2026 Dividend 262006208 0.00 DREYFUS GVT CM INST 320.92 320.92 03/09/2026 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,652.78 8,652.78 03/16/2026 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 03/16/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 03/16/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 03/16/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 03/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 03/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 03/16/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 03/16/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 03/16/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 710.75 710.75 03/16/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 7,689.80 7,689.80 03/16/2026 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
03/16/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 03/16/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 03/16/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 150.10 150.10 03/16/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5,862.08 5,862.08 03/16/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 03/16/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 03/16/2026 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 03/16/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 03/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 03/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 03/20/2026 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
03/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,471.07 1,471.07 Item 7.4
Tuesday, March 24, 2026 64 of 474
CONFIDENTIAL | 28
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 2,742.40 2,742.40 03/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 03/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 03/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 03/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 03/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 03/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 03/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 366.69 366.69 03/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 207.13 207.13 03/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 03/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 03/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 03/31/2026 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 03/31/2026 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 03/31/2026 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 03/31/2026 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 March 2026 Total 16,822.33 99,732.86 116,555.18
APRIL 2026
04/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 04/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 04/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 04/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 04/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 04/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 678.97 678.97 04/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 9,672.29 9,672.29 04/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 04/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 04/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 127.49 127.49 04/15/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5,984.37 5,984.37 04/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 04/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 04/15/2026 Coupon 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 8,671.88 8,671.88 Item 7.4
Tuesday, March 24, 2026 65 of 474
CONFIDENTIAL | 29
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 04/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 04/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 04/16/2026 Coupon 459058LN1 350,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 6,781.25 6,781.25
04/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 04/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 04/20/2026 Coupon 61748UAK8 155,000.00 MORGAN STANLEY 4.133 10/18/2029 3,131.90 3,131.90 04/21/2026 Coupon 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 2,180.33 2,180.33
04/22/2026 Coupon 857477CP6 250,000.00 STATE STREET CORP 4.33 10/22/2027 5,412.50 5,412.50 04/27/2026 Coupon 06051GLG2 150,000.00 BANK OF AMERICA CORP 5.202 04/25/2029 3,901.50 3,901.50 04/27/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,459.24 1,459.24 04/27/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 20,390.34 20,390.34 04/27/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 04/27/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 04/27/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 04/27/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 04/27/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 04/27/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 04/27/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 366.17 366.17 04/27/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 166.61 166.61 04/27/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 04/27/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 04/27/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 04/28/2026 Coupon 931142FN8 185,000.00 WALMART INC 4.35 04/28/2030 4,023.75 4,023.75 04/30/2026 Coupon 91282CJF9 375,000.00 UNITED STATES TREASURY 4.875 10/31/2028 9,140.63 9,140.63 04/30/2026 Coupon 91282CKP5 375,000.00 UNITED STATES TREASURY 4.625 04/30/2029 8,671.88 8,671.88 04/30/2026 Coupon 91282CLR0 400,000.00 UNITED STATES TREASURY 4.125 10/31/2029 8,250.00 8,250.00 04/30/2026 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 April 2026 Total 36,213.60 82,913.29 119,126.90
MAY 2026
Item 7.4
Tuesday, March 24, 2026 66 of 474
CONFIDENTIAL | 30
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/08/2026 Coupon 69371RT71 230,000.00 PACCAR FINANCIAL CORP 4.55 05/08/2030 5,232.50 5,232.50 05/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 05/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 05/15/2026 Coupon 14913UAU4 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 5,875.00 5,875.00
05/15/2026 Coupon 30303MAB8 250,000.00 META PLATFORMS INC 4.2 11/15/2030 5,600.00 5,600.00 05/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 05/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 05/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 05/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 638.99 638.99 05/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 9,319.10 9,319.10 05/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 05/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 05/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 104.40 104.40 05/15/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5,783.55 5,783.55 05/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 05/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 05/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 05/18/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 05/18/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 05/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 05/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 05/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,371.22 1,371.22 05/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 19,596.05 19,596.05 05/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 05/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 05/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 05/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 05/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 05/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 05/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 365.76 365.76 05/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 180.58 180.58 Item 7.4
Tuesday, March 24, 2026 67 of 474
CONFIDENTIAL | 31
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 05/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 05/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 05/26/2026 Final Maturity 62479MES8 350,000.00 MUFG Bank, Ltd., New York Branch 05/26/2026 350,000.00 350,000.00 May 2026 Total 384,879.29 29,616.20 414,495.48
JUNE 2026
06/01/2026 Coupon 91282CMA6 400,000.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 06/01/2026 Coupon 91282CNG2 350,000.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 06/01/2026 Coupon 91282CPN5 150,000.00 UNITED STATES TREASURY 3.5 11/30/2030 2,625.00 2,625.00 06/11/2026 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 06/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 06/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 06/15/2026 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
06/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 06/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 06/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 06/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 600.47 600.47 06/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 8,359.11 8,359.11 06/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 06/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 06/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 82.08 82.08 06/15/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5,676.45 5,676.45 06/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 06/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 220.00 220.00 06/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 1,376.83 1,376.83 06/15/2026 Coupon 91282CPP0 250,000.00 UNITED STATES TREASURY 3.5 12/15/2028 4,375.00 4,375.00 06/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 06/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 06/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 220.00 220.00 06/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 258.43 258.43 06/22/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 Item 7.4
Tuesday, March 24, 2026 68 of 474
CONFIDENTIAL | 32
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/22/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 06/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,286.63 1,286.63 06/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 19,364.40 19,364.40 06/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 06/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 06/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 06/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 06/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 06/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 06/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 365.31 365.31 06/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 167.41 167.41 06/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 06/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 06/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 06/30/2026 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 06/30/2026 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 06/30/2026 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 06/30/2026 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 06/30/2026 Coupon 91282CPR6 350,000.00 UNITED STATES TREASURY 3.625 12/31/2030 6,343.75 6,343.75 June 2026 Total 35,202.64 79,038.20 114,240.84
JULY 2026
07/09/2026 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 07/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 07/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 07/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 07/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 07/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 07/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 565.92 565.92 07/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 8,645.57 8,645.57 07/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 07/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 07/15/2026 Coupon 74340XCQ2 250,000.00 PROLOGIS LP 4.75 01/15/2031 5,937.50 5,937.50 Item 7.4
Tuesday, March 24, 2026 69 of 474
CONFIDENTIAL | 33
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 60.18 60.18 07/15/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5,547.20 5,547.20 07/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 07/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 214.95 214.95 07/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,275.13 3,275.13 07/15/2026 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 07/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 07/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 07/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 219.05 219.05 07/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,100.17 3,100.17 07/20/2026 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,698.35 3,698.35 07/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 07/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 07/24/2026 Coupon 06051GMK2 150,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 3,734.25 3,734.25 07/24/2026 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 07/27/2026 Coupon 06368MJG0 100,000.00 BANK OF MONTREAL 5.004 01/27/2029 2,502.00 2,502.00 07/27/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,203.04 1,203.04 07/27/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 18,979.86 18,979.86 07/27/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 07/27/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 07/27/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 07/27/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 07/27/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 07/27/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 07/27/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 364.89 364.89 07/27/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 181.31 181.31 07/27/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 07/27/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 07/27/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 07/27/2026 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 07/31/2026 Coupon 89115A3E0 225,000.00 TORONTO-DOMINION BANK 4.861 01/31/2028 5,468.63 5,468.63 07/31/2026 Coupon 91282CLC3 350,000.00 UNITED STATES TREASURY 4.0 07/31/2029 7,000.00 7,000.00 Item 7.4
Tuesday, March 24, 2026 70 of 474
CONFIDENTIAL | 34
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/31/2026 Coupon 91282CNN7 225,000.00 UNITED STATES TREASURY 3.875 07/31/2030 4,359.38 4,359.38 July 2026 Total 39,729.23 64,191.47 103,920.69
AUGUST 2026
08/03/2026 Coupon 13063EGT7 205,000.00 CALIFORNIA STATE 4.5 08/01/2029 4,612.50 4,612.50 08/03/2026 Coupon 756109CW2 250,000.00 REALTY INCOME CORP 3.95 02/01/2029 4,937.50 4,937.50 08/03/2026 Coupon 91159HJK7 200,000.00 US BANCORP 4.653 02/01/2029 4,653.00 4,653.00 08/07/2026 Coupon 63743HFX5 250,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 6,187.50 6,187.50
08/10/2026 Coupon 89236TMK8 225,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 5,118.75 5,118.75 08/12/2026 Coupon 92826CAZ5 140,000.00 VISA INC 4.1 02/12/2031 2,870.00 2,870.00 08/14/2026 Coupon 532457CQ9 235,000.00 ELI LILLY AND CO 4.2 08/14/2029 4,935.00 4,935.00 08/17/2026 Coupon 02079KBK2 200,000.00 ALPHABET INC 4.1 02/15/2031 4,145.56 4,145.56 08/17/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 08/17/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 08/17/2026 Coupon 26442CAY0 250,000.00 DUKE ENERGY CAROLINAS LLC 2.45 08/15/2029 3,062.50 3,062.50
08/17/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 08/17/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 308.00 308.00 08/17/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 1,995.60 1,995.60 08/17/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 207.69 207.69 08/17/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,360.02 3,360.02 08/17/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 08/17/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 08/17/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 530.18 530.18 08/17/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 8,997.25 8,997.25 08/17/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 08/17/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 08/17/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 38.78 38.78 08/17/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 4,467.50 4,467.50 08/17/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 08/17/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 202.94 202.94 08/17/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,170.60 3,170.60 Item 7.4
Tuesday, March 24, 2026 71 of 474
CONFIDENTIAL | 35
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/17/2026 Coupon 91282CNU1 250,000.00 UNITED STATES TREASURY 3.625 08/15/2028 4,531.25 4,531.25 08/17/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 08/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 08/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 08/24/2026 Coupon 17275RBW1 250,000.00 CISCO SYSTEMS INC 4.55 02/24/2028 5,687.50 5,687.50 08/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,121.11 1,121.11 08/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 18,488.17 18,488.17 08/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 08/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 08/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 08/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 08/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 08/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 08/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 364.44 364.44 08/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 168.22 168.22 08/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 08/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 08/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 08/31/2026 Coupon 91282CGP0 375,000.00 UNITED STATES TREASURY 4.0 02/29/2028 7,500.00 7,500.00 08/31/2026 Coupon 91282CKD2 375,000.00 UNITED STATES TREASURY 4.25 02/28/2029 7,968.75 7,968.75 08/31/2026 Coupon 91282CLK5 400,000.00 UNITED STATES TREASURY 3.625 08/31/2029 7,250.00 7,250.00 08/31/2026 Coupon 91282CNX5 500,000.00 UNITED STATES TREASURY 3.625 08/31/2030 9,062.50 9,062.50 August 2026 Total 40,647.37 94,975.78 135,623.15
SEPTEMBER 2026
09/09/2026 Coupon 3130B7QM9 500,000.00 FEDERAL HOME LOAN BANKS 3.5 09/09/2027 8,750.00 8,750.00 09/15/2026 Coupon 00287YDY2 125,000.00 ABBVIE INC 4.65 03/15/2028 2,906.25 2,906.25 09/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 09/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 09/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 461.00 461.00 09/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,290.00 6,290.00 09/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 09/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 Item 7.4
Tuesday, March 24, 2026 72 of 474
CONFIDENTIAL | 36
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 492.99 492.99 09/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 10,676.03 10,676.03 09/15/2026 Coupon 571748CA8 250,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 5,812.50 5,812.50
09/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 09/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 458.08 458.08 09/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 2,738.22 2,738.22 09/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 21.54 21.54 09/15/2026 Principal Paydown 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 4,088.44 4,088.44 09/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 09/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 191.32 191.32 09/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,116.58 3,116.58 09/15/2026 Coupon 91282CKE0 350,000.00 UNITED STATES TREASURY 4.25 03/15/2027 7,437.50 7,437.50 09/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 09/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 300.32 300.32 09/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,416.56 3,416.56 09/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 195.37 195.37 09/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,305.45 3,305.45 09/21/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 09/21/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 09/21/2026 Coupon 459058LR2 125,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 2,578.13 2,578.13
09/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 1,041.30 1,041.30 09/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 18,156.28 18,156.28 09/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 09/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 09/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 09/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 09/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 09/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 09/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 364.03 364.03 09/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 168.60 168.60 Item 7.4
Tuesday, March 24, 2026 73 of 474
CONFIDENTIAL | 37
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 09/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 09/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 09/30/2026 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 09/30/2026 Coupon 91282CKG5 350,000.00 UNITED STATES TREASURY 4.125 03/31/2029 7,218.75 7,218.75 09/30/2026 Coupon 91282CLN9 400,000.00 UNITED STATES TREASURY 3.5 09/30/2029 7,000.00 7,000.00 09/30/2026 Coupon 91282CMU2 300,000.00 UNITED STATES TREASURY 4.0 03/31/2030 6,000.00 6,000.00 September 2026
Total 51,956.17 67,209.07 119,165.24
OCTOBER 2026
10/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 10/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 10/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 436.84 436.84 10/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 4,359.86 4,359.86 10/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 10/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 10/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 448.87 448.87 10/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 9,864.26 9,864.26 10/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 10/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 447.18 447.18 10/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,637.88 5,637.88 10/15/2026 Coupon 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 5.77 5.77 10/15/2026 Effective Maturity 891940AC2 38,710.71 TAOT 2023-A A3 4.63 09/15/2027 1,494.34 1,494.34 10/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 10/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 179.89 179.89 10/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 3,000.78 3,000.78 10/15/2026 Coupon 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 8,671.88 8,671.88 10/15/2026 Final Maturity 91282CJC6 375,000.00 UNITED STATES TREASURY 4.625 10/15/2026 375,000.00 375,000.00 10/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 10/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 287.16 287.16 10/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,231.46 4,231.46 10/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 183.25 183.25 Item 7.4
Tuesday, March 24, 2026 74 of 474
CONFIDENTIAL | 38
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,180.19 3,180.19 10/16/2026 Coupon 459058LN1 350,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 6,781.25 6,781.25
10/19/2026 Coupon 61748UAK8 155,000.00 MORGAN STANLEY 4.133 10/18/2029 3,203.08 3,203.08 10/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 362.58 362.58 10/20/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 11,223.06 11,223.06 10/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 10/21/2026 Coupon 38141GD27 105,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 2,180.33 2,180.33
10/22/2026 Coupon 857477CP6 250,000.00 STATE STREET CORP 4.33 10/22/2027 5,412.50 5,412.50 10/26/2026 Coupon 06051GLG2 150,000.00 BANK OF AMERICA CORP 5.202 04/25/2029 3,901.50 3,901.50 10/26/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 962.93 962.93 10/26/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 16,617.23 16,617.23 10/26/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 10/26/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 10/26/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 10/26/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 10/26/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 10/26/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 10/26/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 363.61 363.61 10/26/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 182.37 182.37 10/26/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 10/26/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 10/26/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 10/28/2026 Coupon 931142FN8 185,000.00 WALMART INC 4.35 04/28/2030 4,023.75 4,023.75 October 2026 Total 434,791.43 46,251.00 481,042.43
NOVEMBER 2026
11/02/2026 Coupon 91282CJF9 375,000.00 UNITED STATES TREASURY 4.875 10/31/2028 9,140.63 9,140.63 11/02/2026 Coupon 91282CKP5 375,000.00 UNITED STATES TREASURY 4.625 04/30/2029 8,671.88 8,671.88 11/02/2026 Coupon 91282CLR0 400,000.00 UNITED STATES TREASURY 4.125 10/31/2029 8,250.00 8,250.00 11/02/2026 Coupon 91282CMZ1 500,000.00 UNITED STATES TREASURY 3.875 04/30/2030 9,687.50 9,687.50 11/09/2026 Coupon 69371RT71 230,000.00 PACCAR FINANCIAL CORP 4.55 05/08/2030 5,232.50 5,232.50 Item 7.4
Tuesday, March 24, 2026 75 of 474
CONFIDENTIAL | 39
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/16/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 11/16/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 11/16/2026 Coupon 14913UAU4 250,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 5,875.00 5,875.00
11/16/2026 Coupon 30303MAB8 250,000.00 META PLATFORMS INC 4.2 11/15/2030 5,250.00 5,250.00 11/16/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 420.09 420.09 11/16/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,582.95 6,582.95 11/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 270.87 270.87 11/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,152.25 4,152.25 11/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 171.58 171.58 11/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 3,120.37 3,120.37 11/16/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 11/16/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 11/16/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 408.09 408.09 11/16/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 11,767.57 11,767.57 11/16/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 11/16/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 424.72 424.72 11/16/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,537.21 5,537.21 11/16/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 11/16/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 168.89 168.89 11/16/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,942.93 2,942.93 11/16/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 11/20/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 319.75 319.75 11/20/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 10,189.93 10,189.93 11/20/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 11/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 891.20 891.20 11/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 16,296.10 16,296.10 11/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 11/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 11/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 11/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 11/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 Item 7.4
Tuesday, March 24, 2026 76 of 474
CONFIDENTIAL | 40
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 11/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 363.15 363.15 11/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 169.41 169.41 11/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 11/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 11/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 11/30/2026 Coupon 91282CMA6 400,000.00 UNITED STATES TREASURY 4.125 11/30/2029 8,250.00 8,250.00 11/30/2026 Coupon 91282CNG2 350,000.00 UNITED STATES TREASURY 4.0 05/31/2030 7,000.00 7,000.00 11/30/2026 Coupon 91282CPN5 150,000.00 UNITED STATES TREASURY 3.5 11/30/2030 2,625.00 2,625.00 November 2026
Total 60,758.70 81,819.51 142,578.21
DECEMBER 2026
12/11/2026 Coupon 24422EXT1 225,000.00 JOHN DEERE CAPITAL CORP 4.85 06/11/2029 5,456.25 5,456.25 12/14/2026 Coupon 06406RBG1 225,000.00 BANK OF NEW YORK MELLON CORP 3.992 06/13/2028 4,491.00 4,491.00
12/15/2026 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 12/15/2026 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 12/15/2026 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 394.80 394.80 12/15/2026 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,194.56 6,194.56 12/15/2026 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 12/15/2026 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 12/15/2026 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 359.45 359.45 12/15/2026 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 7,972.76 7,972.76 12/15/2026 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 12/15/2026 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 402.66 402.66 12/15/2026 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,240.41 5,240.41 12/15/2026 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 12/15/2026 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 158.10 158.10 12/15/2026 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,797.45 2,797.45 12/15/2026 Coupon 91282CPP0 250,000.00 UNITED STATES TREASURY 3.5 12/15/2028 4,375.00 4,375.00 12/15/2026 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 12/16/2026 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 254.89 254.89 Item 7.4
Tuesday, March 24, 2026 77 of 474
CONFIDENTIAL | 41
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/16/2026 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,935.23 3,935.23 12/16/2026 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 160.14 160.14 12/16/2026 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 2,959.14 2,959.14 12/21/2026 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 280.86 280.86 12/21/2026 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 12,972.40 12,972.40 12/21/2026 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 12/25/2026 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 820.85 820.85 12/25/2026 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 15,552.42 15,552.42 12/25/2026 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 12/25/2026 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 12/25/2026 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 12/25/2026 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 12/25/2026 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 12/25/2026 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 12/25/2026 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 362.73 362.73 12/25/2026 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 183.09 183.09 12/25/2026 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 12/25/2026 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 12/25/2026 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 12/31/2026 Coupon 91282CEV9 350,000.00 UNITED STATES TREASURY 3.25 06/30/2029 5,687.50 5,687.50 12/31/2026 Coupon 91282CHK0 350,000.00 UNITED STATES TREASURY 4.0 06/30/2028 7,000.00 7,000.00 12/31/2026 Coupon 91282CMD0 400,000.00 UNITED STATES TREASURY 4.375 12/31/2029 8,750.00 8,750.00 12/31/2026 Coupon 91282CNK3 325,000.00 UNITED STATES TREASURY 3.875 06/30/2030 6,296.88 6,296.88 12/31/2026 Coupon 91282CPR6 350,000.00 UNITED STATES TREASURY 3.625 12/31/2030 6,343.75 6,343.75 December 2026
Total 57,807.45 59,993.52 117,800.97
JANUARY 2027
01/11/2027 Coupon 89236TNA9 170,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 4,207.50 4,207.50 01/15/2027 Coupon 02582JKP4 170,000.00 AMXCA 2025-2 A 4.28 04/15/2030 606.33 606.33 01/15/2027 Coupon 02589BAE0 200,000.00 AMXCA 2024-3 A 4.65 07/15/2027 775.00 775.00 01/15/2027 Coupon 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 371.00 371.00 01/15/2027 Principal Paydown 34535VAD6 120,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,089.38 6,089.38 Item 7.4
Tuesday, March 24, 2026 78 of 474
CONFIDENTIAL | 42
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2027 Coupon 44935XAD7 80,000.00 HART 2025-B A3 4.36 12/17/2029 290.67 290.67 01/15/2027 Coupon 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 352.50 352.50 01/15/2027 Principal Paydown 47800DAD6 100,000.00 JDOT 2025 A3 4.23 09/17/2029 837.88 837.88 01/15/2027 Coupon 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 326.50 326.50 01/15/2027 Principal Paydown 47800RAD5 171,955.78 JDOT 2024 A3 4.96 11/15/2028 11,574.79 11,574.79 01/15/2027 Coupon 58770YAD3 60,000.00 MBALT 2026-A A3 3.93 01/15/2030 196.50 196.50 01/15/2027 Coupon 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 381.79 381.79 01/15/2027 Principal Paydown 58773DAD6 115,000.00 MBART 2025-1 A3 4.78 12/17/2029 5,160.99 5,160.99 01/15/2027 Coupon 74340XCQ2 250,000.00 PROLOGIS LP 4.75 01/15/2031 5,937.50 5,937.50 01/15/2027 Coupon 89231HAD8 65,000.00 TAOT 2025-B A3 4.34 11/15/2029 235.08 235.08 01/15/2027 Coupon 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 147.84 147.84 01/15/2027 Principal Paydown 89239TAD4 60,000.00 TAOT 2024-D A3 4.4 06/15/2029 2,751.09 2,751.09 01/15/2027 Coupon 91282CKZ3 375,000.00 UNITED STATES TREASURY 4.375 07/15/2027 8,203.13 8,203.13 01/15/2027 Coupon 92970QAE5 110,000.00 WFCIT 2024-2 A 4.29 10/15/2029 393.25 393.25 01/18/2027 Coupon 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 239.74 239.74 01/18/2027 Principal Paydown 362955AD8 80,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,871.60 3,871.60 01/18/2027 Coupon 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 149.29 149.29 01/18/2027 Principal Paydown 38014AAD3 60,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 2,911.00 2,911.00 01/20/2027 Coupon 025816EJ4 170,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 3,698.35 3,698.35 01/20/2027 Coupon 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 231.35 231.35 01/20/2027 Principal Paydown 362962AD4 95,000.00 GMALT 2025-2 A3 4.58 05/22/2028 13,291.05 13,291.05 01/20/2027 Coupon 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 312.75 312.75 01/20/2027 Principal Paydown 379965AD8 90,000.00 GMALT 2025-3 A3 4.17 08/21/2028 9,756.76 9,756.76 01/25/2027 Coupon 06051GMK2 150,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 3,734.25 3,734.25 01/25/2027 Coupon 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 753.72 753.72 01/25/2027 Principal Paydown 096919AD7 340,789.49 BMWOT 2024-A A3 5.18 02/26/2029 15,294.19 15,294.19 01/25/2027 Coupon 3137F62M8 250,000.00 FHMS K-118 A2 1.493 09/25/2030 311.04 311.04 01/25/2027 Coupon 3137F83Q4 250,000.00 FHMS K-121 A2 1.547 10/25/2030 322.29 322.29 01/25/2027 Coupon 3137FJEH8 250,000.00 FHMS K-081 A2 3.9 08/25/2028 812.50 812.50 01/25/2027 Coupon 3137FJKE8 250,000.00 FHMS K-082 A2 3.92 09/25/2028 816.67 816.67 01/25/2027 Coupon 3137FKSH0 150,000.00 FHMS K-086 A2 3.859 11/25/2028 482.38 482.38 01/25/2027 Coupon 3137FLN91 300,000.00 FHMS K-091 A2 3.505 03/25/2029 876.25 876.25 Item 7.4
Tuesday, March 24, 2026 79 of 474
CONFIDENTIAL | 43
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/25/2027 Coupon 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 362.28 362.28 01/25/2027 Principal Paydown 3137FMCR1 147,560.65 FHMS K-093 A2 2.982 05/25/2029 170.22 170.22 01/25/2027 Coupon 3137FNAE0 250,000.00 FHMS K-095 A2 2.785 06/25/2029 580.21 580.21 01/25/2027 Coupon 3137FPHK4 300,000.00 FHMS K-098 A2 2.425 08/25/2029 606.25 606.25 01/25/2027 Coupon 3137FRUJ8 275,000.00 FHMS K-105 A2 1.872 01/25/2030 429.00 429.00 01/25/2027 Coupon 46647PDG8 150,000.00 JPMORGAN CHASE & CO 4.851 07/25/2028 3,638.25 3,638.25 01/25/2027 Coupon 46647PEU6 115,000.00 JPMORGAN CHASE & CO 4.915 01/24/2029 2,826.13 2,826.13 01/27/2027 Coupon 06368MJG0 100,000.00 BANK OF MONTREAL 5.004 01/27/2029 2,502.00 2,502.00 January 2027 Total 71,708.92 46,109.26 117,818.19
Grand Total 87,551,101.84 1,230,517.13 751,850.15 1,982,367.28 Item 7.4
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CONFIDENTIAL | 44
City of Campbell | Account #11214 | As of February 28, 2026 Execution Time: 03/04/2026 09:47:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
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LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end.

BENCHMARK INDEX & DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency
Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

Item 7.4
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City Council Report
DATE: March 24, 2026
TITLE: Accepting Improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD, Directing the Public Works Director to File Notice of Completion, and Authorizing the Finance Director to Perform a Future Budget Adjustment (Resolution/Roll Call Vote)
RECOMMENDED ACTION:

That the City Council adopt a resolution for: 1) accepting the improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD; 2) directing the Public Works Director to file the Notice of Completion; and 3) authorizing the Finance Director to perform a future budget adjustment transferring any project balance to future phase of the Campbell Priority Development Area Enhancements Project on Orchard City Drive at North Central Avenue.

BACKGROUND
On October 15, 2024, the City Council adopted Resolution #13221 approving the plans and specifications and authorizing the solicitation of bids for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD (Project). The Project proposes to improve pedestrian safety by modifying intersection curb lines and upgrading curb ramp locations at the intersections of Civic Center Drive at Second and Third Streets.

The City Clerk received and opened five bid proposals on November 7, 2024 ranging from $815,471 to $1,118,750. The lowest, responsive bid proposal of $815,471 was submitted by Guerra Construction Group of Santa Clara, CA. The low bid including 10% contingency in the amount of $897,018 was $25,771 over the authorized amount of $871,200. On November 19, 2024, the City Council adopted Resolution #13228 authorizing an increased amount of $815,471 plus a 10% contingency totaling $896,971 and approving the award of the construction contract to Guerra Construction Group. The construction contract was fully executed on December 18, 2024.

DISCUSSION
Construction activities began on March 24, 2025. The Project modified curb lines and installed Americans with Disabilities Act (ADA) compliant directional curb ramps at the intersections of Civic Center Drive at Second and Third Streets. These improvements Item 7.5
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shortened the distances between curb ramps crossing Civic Center Drive. The two intersections were repaved to create marked crosswalks that adhere to Public Right-ofWay Accessibility Guidelines (PROWAG). The revised curb line at the southwest corner of Civic Center Drive and Third Street includes the installation of a biotreatment area that treats and filters storm water runoff before it enters into the City’s storm sewer system.

The Project also installed new pavement markings and striping.

As of January 5, 2026, the project was completed in accordance with the approved plans and specifications.

FISCAL IMPACT
The Project was completed under budget as outlined below:

SOURCE OF FUNDS
Total Adopted
Budget
Vehicle Impact Fees $170,000
American Rescue Plan Act (ARPA) $735,200
ADA Improvements (24-HH) (ARPA) $50,000
FY2025 ARPA Interest Earnings $25,771
TOTAL $980,971

USE OF FUNDS
Budget Actual
Construction Engineering $84,000 $106,335
Construction Contract and Contingency $896,971 $782,704 TOTAL $980,971 $889,039

Total Project Savings: $91,932
The total adopted budget of $980,971 was approved by the Resolution #13228.

The actual construction engineering cost exceeded the previously proposed use of funds due to additional staff time required for analyzing and adjusting design to conform to field conditions at the two intersections.

However, the final construction contract cost was $782,704, which is $114,267 lower than the authorized amount of $896,971. A savings of approximately $92,000 after the project completion came from deleting and modifying some of the contract work to conform to existing field conditions.

Staff recommends transferring the project balance to the next phase of the Campbell Priority Development Area Enhancements Project (Phase II) at the intersection of Orchard City Drive and North Central Avenue. Staff is currently finalizing the bid documents. Phase II will be presented to the City Council at a later date.

RETENTION AND PARTIAL WITHHOLDING
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In accordance with the City’s General Provisions Section 9-2.06B ‘Retention’, the City is withholding $39,135 in retention as security for fulfillment of the contract by the contractor.

This amount is 5% of the construction contract value of $782,704.

During the term of the contract, the prime contractor and the subcontractors incurred labor compliance violations. Pending audit from the City’s labor compliance consultant, a Notice of Withholding of Contract Payments will be sent in accordance with Labor Code Section 1742 and 1771.6 to the prime contractor advising an estimated maximum wage restitutions to workers, liquidated damages, and penalties. The date of delivery of the Notice of Withholding of Contract Payments marks the beginning of a 60-day period in which the contractors could make wage restitutions to their workers or file an appeal with the City. If at the end of the 60-day period, the contractor fails to make wage restitutions, the City will use the withholding funds to distribute the wages owed in accordance with information on the certified payrolls followed by a letter to the California Department of Industrial Relations stating wage distribution information. If the contractor pays restitution, the City will only retain the liquidated damages and penalties portion per Labor Code Section 1775 and 1813.

The City will file a Notice of Completion with the Santa Clara County Recorder’s Office after the 60-day restitution period. Notwithstanding any moneys included in the Notice of Withholding, the retention balances are released 35 days following the filing of the Notice of Completion with the Santa Clara County Recorder’s Office.

The proposed Resolution has been prepared for: 1) accepting the improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD; 2) directing the Public Works Director to file the Notice of Completion; and 3) authorizing the Finance Director to perform a future budget adjustment transferring any project balance to future phase of the Campbell Priority Development Area Enhancements Project on Orchard City Drive at North Central Avenue.

ALTERNATIVES
Do not accept improvements and budget adjustments and direct staff accordingly.

PREPARED BY: Fredrick Ho, Senior Civil Engineer
Item 7.5
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Report Approval Details
Document
Title:

Report - Accepting Improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD.docx
Attachments: 25DD_Project Acceptance Resolution.docx
25DD_Notice of Completion.docx
Final Approval
Date:

March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Item 7.5
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RESOLUTION NO. ________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL

TO ACCEPT IMPROVEMENTS FOR THE CAMPBELL PRIORITY DEVELOPMENT

AREA ENHANCEMENTS ON CIVIC CENTER DRIVE AT SECOND AND THIRD STREETS PROJECT NO. 25-DD; DIRECT THE CITY ENGINEER TO FILE THE NOTICE OF COMPLETION; AND AUTHORIZE THE FINANCE DIRECTOR TO

PERFORM A FUTURE BUDGET ADJUSTMENT
WHEREAS, the City Council adopted Resolution #13221 approving the plans and specifications and authorizing the solicitation of bids for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD (Project); and
WHEREAS, the City Council adopted Resolution #13228 authorizing an increased amount of $815,471 plus a 10% contingency totaling $896,971 and approving the award of the construction contract to Guerra Construction Group; and WHEREAS, the construction contract was fully executed on December 18, 2024.; and WHEREAS, as of January 5, 2026, the project was completed in accordance with the approved plans and specifications; and
WHEREAS, the final construction contract cost was $782,704 which is $114,267 lower than the authorized amount of $896,971; and
WHEREAS, a savings of approximately $92,000 after the project completion came from deleting and modifying some of the contract work to conform to existing field conditions; and
WHEREAS, staff recommends transferring the project balance to the next phase of the Campbell Priority Development Area Enhancements Project (Phase II) at the intersection of Orchard City Drive and North Central Avenue; and
WHEREAS, the City is withholding $39,135 in retention as security for fulfillment of the contract by the contractor; and
WHEREAS, a Notice of Withholding of Contract Payments will be sent in accordance with Labor Code Section 1742 and 1771.6 to the prime contractor advising an estimated maximum wage restitutions to workers, liquidated damages, and penalties; and WHEREAS, notwithstanding any moneys included in the Notice of Withholding, the retention balances are released 35 days following the filing of the Notice of Completion with the Santa Clara County Recorder’s Office.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Campbell hereby 1) accept the improvements for the Campbell Priority Development Area Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD; 2) direct the Public Works Director to file the Notice of Completion; and 3) authorize the Finance Director to perform a future budget adjustment transferring any project balance Item 7.5
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to future phase of the Campbell Priority Development Area Enhancements Project on Orchard City Drive and North Central Avenue.

PASSED AND ADOPTED this _ day of 2026, by the following roll call vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

APPROVED:
_____________________________
Daniel E. Furtado, Mayor
ATTEST:
___________________________
Andrea Sanders, City Clerk
Item 7.5
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Revised 1/23/17
Recording Requested by
and when recorded, mail to:

City of Campbell
City Clerk’s Office
70 North First Street, City Hall – Upper Level
Campbell, CA 95008
(408) 866-2150

CITY OF CAMPBELL

NOTICE OF COMPLETION AND ACCEPTANCE

OF PUBLIC WORKS CONTRACT
(C.C.C. 3093)
This document is for the benefit of the City of Campbell. Request for the Recordation without fee is made in accordance with Section 6103 of the Government Code of the State of California.

Contractor’s Name: Guerra Construction Group Contract Date:12/19/2024 Surety: Arthur J. Gallagher Risk Management Services, LLC Final Contract Amount: $782,704
Job Title: Campbell Priority Development Area (PDA) Enhancements on Civic Center Drive at Second and Third Streets Project No. 25-DD
Location: Civic Center Drive at the intersections of Second and Third Streets within the City of Campbell.

Scope of Work: The project installed ADA compliant curb ramps, driveways, sidewalk, curb and gutter, sidewalk bulbouts, and traffic spot islands. A streetlight and Rectangular Rapid Flashing Beacon were also relocated. Other work included repaving of asphalt concrete at the intersections; installing biotreatment basin for storm runoff, landscaping and irrigation system; installing storm sewer pipes, inlets, manhole, pavement marking/striping, and roadside signs.

Owner: City of Campbell, City Hall, 70 North Street, Campbell, CA 95008 This work was accepted by me on 3/25/2026, on behalf of the City of Campbell. I certify under penalty of perjury that the foregoing is true and correct. (C.C.P. 2015.5)
Executed on 3/25/2026,
at Campbell, California
Amy Olay, Public Works Director
Department of Public Works City of Campbell
Item 7.5
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City Council Report
DATE: March 24, 2026
TITLE: Adoption of Ordinance 26-2344 - Beekeeping
RECOMMENDED ACTION:

That the City Council take second reading and adopt Ordinance 26-2344 amending Section 7.04.10 and Chapter 7.25 - Beekeeping of the Campbel Municipal Code.

BACKGROUND
In recent years, the City has received public comments urging a review of the beekeeping standards, citing the ecological importance of bees as pollinators and concerns over declining bee populations. In response, the City Council included an update to the Beekeeping Ordinance in the FY 2025-2026 Community Development Department’s work plan.

DISCUSSION
At the regular meeting of March 3, 2026, the City Council held a public hearing to introduce and take first reading of Ordinance 26-2344 amending Section 7.04.010 (Definitions) and Chapter 7.28 (Beekeeping) of the Campbell Municipal Code.

The City Council unanimously approved first reading of Ordinance 26-2344 and staff is returning to the City Council for second reading of the ordinance. In accordance with Government Code Section 36933, a summary ordinance has been published in the Metro Silicon Valley, a newspaper of general circulation for the City of Campbell, County of Santa Clara on March 11, 2026. If adopted, an additional summary notice will be published on April 1, 2026. Ordinance 26-2344 will become effective 30 days following adoption.

FISCAL IMPACT
Nominal publication costs are associated with the second reading of Ordinance 26-2344 to meet requirements of Government Code Section 36933 but can be absorbed with the current FY 2026 Operating budget. Other fiscal impacts are included in the March 3, 2026, staff report introducing the item.

ALTERNATIVES
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1. Do not adopt the ordinance and retain the existing provisions of Campbell Municipal Code Chapter 7.25.

2. Continue the item to a future City Council meeting to allow staff additional time to conduct further analysis, or explore alternative beekeeping regulations.

3. Direct staff to modify the proposed ordinance to address specific concerns raised by the City Council and return with a revised ordinance for consideration.

PREPARED BY: Andrea Sanders, City Clerk
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Report Approval Details
Document Title: Adoption of Ordinance 26-2344 Amending CMC Chapter 7.28 Beekeeping .docx
Attachments: 26-2344 - Beekeeping Ordinance.docx
Final Approval
Date:

March 17, 2026
This document and all of its attachments were approved and signed as outlined below:

Will Fuentes, Finance Director
Andrea Sanders, City Clerk
Brian Loventhal, City Manager
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ORDINANCE NO. 26-2344

BEING AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF CAMPBELL AMENDING SECTION 7.04.010 (DEFINITIONS)
AND CHAPTER 7.28 (BEEKEEPING). FILE PLN-2025-148.

WHEREAS, after notification and public hearing, as specified by law and after presentation by the Community Development Director, proponents and opponents, the hearing was closed.

WHEREAS, the subject Ordinance will remove definitions related to bees from Section

7.04.010 (Definitions) and amend Chapter 7.28 (Beekeeping) to establish new policies and standards intended to relax standards which effectively prohibit beekeeping within the City.

WHEREAS, the proposed amendments, would be consistent with the 2040 General Plan of the City of Campbell including, but not limited to, the following:

CHW-1.1 Support urban agriculture and encourage local restaurants and retailers to locally source fresh food to expand the range of fresh fruits and vegetables available to residents.

CHW-1.2 Secure the health of community members by ensuring that residents have access to healthy and nutritional food options.

CHW-1.3 Promote the availability of locally grown and locally sourced food, including fresh fruits, vegetables, and dairy.

CHW-1.4 Recognize that small-scale community agriculture programs, including but not limited to community gardens and urban farms have the potential to supplement the availability of fresh fruits, vegetables, and other food resources in the community, provide economic opportunities to Campbell residents, lower food costs, reduce overall energy consumption and build social cohesion.

WHEREAS, federal policy has recognized pollinator health, including honey bees and other pollinators, as a matter of broad public concern and has articulated a national strategy to promote pollinator health (Pollinator Health Task Force, National Strategy to Promote the Health of Honey Bees and Other Pollinators (2015)); WHEREAS, the City Council finds that encouraging responsible beekeeping and pollinator-supportive practices may advance the public welfare by supporting ecosystem services that contribute to food systems, environmental health, and community sustainability.

WHEREAS, adoption of the proposed Ordinance is considered a "project" under Section 15378(a)(1) of the California Environmental Quality Act (CEQA).

WHEREAS, the proposed Ordinance may be found exempt from environmental review under CEQA Guidelines Sections 15307 and 15308, as a regulatory action intended to Item 7.6
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protect natural resources and the environment, and pursuant to Section 15061(b)(3), because it can be seen with certainty that the Ordinance will not have a significant effect on the environment.

WHEREAS, the legislature of the State of California has, Article XI, Section 7 of the California Constitution, conferred upon local governments the authority to adopt regulations designed to promote the public health, safety and general welfare of its citizenry.

WHEREAS, the proposed amendments will not be detrimental to the public interest, health, safety, convenience, or general welfare of the city.

WHEREAS, the proposed amendments are internally consistent with other applicable provisions of the Campbell Municipal Code and Zoning Code.

WHEREAS, in consideration of the adoption of the subject Ordinance, the City Council provided due consideration of all evidence presented and provided in the entire administrative record.

THEREFORE, the City Council of the City of Campbell does ordain as follows:

Section 1. Section 7.04.010 (Definitions.) of the Campbell Municipal Code is hereby amended by removing the definitions of “Apiary.” and “Bees.” Section 2. Chapter 7.28 (Beekeeping) of the Campbell Municipal Code is hereby amended in its entirely to read as set forth in Exhibit A.

Section 3. If any section, sentence, clause, phrase, word, or other provision of this Ordinance is for any reason held to be unconstitutional or otherwise invalid, such holding shall not affect the validity of the remaining sections, sentences, clauses, phrases, words or other provisions of this Ordinance, or the validity of this Ordinance, shall stand notwithstanding the invalidity of any section, sentence, clause, phrase, word or other provision.

Section 4. The proposed Ordinance is exempt under CEQA Guidelines Sections 15307 and 15308, as a regulatory action intended to protect natural resources and the environment, and pursuant to Section 15061(b)(3), because it can be seen with certainty that the Ordinance will not have a significant effect on the environment.

Section 5. The City Council further finds and determines that the proposed Ordinance is consistent with the goals, policies, and actions of the 2040 General Plan and the 2023- 2031 Housing Element.

Section 6. That this Ordinance shall become effective thirty (30) days following its passage and adoption and shall be published, or summary thereof, one time within fifteen (15) days upon passage and adoption in the Metro Silicon Valley, a newspaper of general circulation for the City of Campbell, County of Santa Clara.

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PASSED AND ADOPTED this _______ day of ________________, 2026, by the following roll call vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:

APPROVED:

Daniel E. Furtado, Mayor
ATTEST:

Andrea Sanders, City Clerk
Item 7.6
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Exhibit A
Chapter 7.28 BEEKEEPING

7.28.010 Findings and Purpose.

The City Council finds and declares that:

1. Beekeeping can provide community and environmental benefits when conducted in a manner that protects public health and safety.

2. The placement of beehives in proximity to adjoining properties or public rightsof-way may result in safety concerns and nuisance impacts.

3. Reasonable standards related to hive placement, fencing and/or flight-path dispersal, provision of water, and hive density are necessary to minimize potential conflicts and ensure neighborhood compatibility.

4. Many aspects of beekeeping, including registration, hive identification, disease and pest management, and movement of apiaries, are already subject to state requirements under the California Food and Agricultural Code.

The purpose of this Chapter is to allow beekeeping as a regulated use within the City of Campbell in a manner that recognizes its potential community and environmental benefits while protecting public health, safety, and neighborhood compatibility.

7.28.020 Applicability.

No person shall keep or maintain an apiary, bees, or hives except in compliance with the requirements of this Chapter.

7.28.030 Definitions.

As used in this Chapter, the following terms shall have the meanings set forth below:
“Agricultural Commissioner” or “Commissioner” means the County Agricultural Commissioner of Santa Clara County, or the Commissioner’s authorized representative, responsible for administering and enforcing state laws related to apiaries within the County of Santa Clara, including registration, inspection, and other requirements set forth in California Food and Agricultural Code Sections 29040–29046. “Apiary” means bees, hives, and related appliances wherever the same are kept, located or found, including a fresh water source.
“Bee” or “Bees” means any living insect, at any stage of the life cycle, that is commonly understood, classified, or represented as a bee and is intentionally kept, housed, or maintained by a person in a hive, apiary, or similar enclosure, including but not limited to honey-producing bees and other social or solitary bee species. “Beekeeping” means the keeping, maintaining, or raising of bees, including the placement, management, or care of any hive or colony.
“Colony” means a community of bees, typically inhabiting a hive. “European honey bee” means any bee or bees of species Apis mellifera.

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Exhibit A
“Flight-dispersing barrier” means a solid fence, wall, or other equivalent solid barrier, at least six (6) feet in height, intended to direct the flight of bees upward and away from adjacent properties and public areas. Dense shrubs, hedges, trees, or other plant materials do not qualify as a flight-dispersing barrier and shall not be used as a substitute for a solid barrier.
“Fresh water source” means a clean and uncontaminated supply of water, sufficient in quantity and accessibility to meet the needs of the bees it serves and maintained to avoid stagnation that could promote mosquito breeding, excessive moss, or algae growth.
“Hive” or “Hives” means any structure intended for the housing of a colony, including any box, skep, or other receptacle, whether occupied or unoccupied by bees. “Obstructed by” means when a flight-dispersing barrier is located along the edge of the setback area required by Section 7.28.060 (Location standards.) in a manner that directs the flight of bees upward and over the barrier, thereby reducing the likelihood of bees flying directly toward the adjacent feature.
"Public right-of-way" has the same meaning as set forth in Section 11.14.020 (Definitions) of this Code.

7.28.040 State requirements.

Pursuant to California Food and Agricultural Code Sections 29040–29057, persons who own, possess, or control an apiary in the State of California are subject to certain state requirements, including:

A. Annual registration. Each apiary must be registered annually by January 1 with the county agricultural commissioner, including the owner’s name, the number of colonies, and the location of each apiary.

B. Movement notification. Any person who moves an apiary into Santa Clara County or acquires an apiary within Santa Clara County after January 1 of any calendar year must register the new or relocated apiary with the county agricultural commissioner within 30 days, including the owner’s name, the number of colonies, and the location of the apiary.

C. Signage. Apiaries located on property other than the owner’s residence must display identification showing the name of the owner or person responsible for the apiary, along with their address and telephone number (or a statement if no telephone is available). This information may be posted on a sign at the entrance of the apiary or stenciled directly on the hive itself, with letters at least one inch high on a contrasting background.

D. Health and safety compliance. Compliance with state regulations for the protection of bees, including disease and pest management, as enforced by the State or county agricultural commissioner.

E. Location requirements. Complying with state rules regarding placement of apiaries, including:

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Exhibit A

1. Obtaining approval from the landowner or their agent before placing an apiary on private land not owned or leased by the beekeeper.

2. Obtaining express written or oral approval from the entity that owns or controls public land before placing an apiary there.

3. Ensuring that written permission is available for public land placement during certain times, such as citrus bloom periods.

F. Other rules. Beekeepers and brokers should be aware that additional state requirements or county rules may apply, including registration fees and equipment identification.

This section is provided for informational purposes only. Failure to comply with state apiary requirements shall not constitute a violation of this Chapter and shall not be subject to enforcement by the City.

7.28.050 General operating standards.

All beekeeping shall comply with the following:

A. Water supply required. A maintained water supply shall be provided on the property at all times that hives are present. The water supply shall be located and maintained so as to reduce bee congregations on neighboring properties and in the public right-of-way and provide a safe access point for bees to drink without significant risk of drowning.

B. Maintenance. Hives shall be maintained in a clean, sanitary condition, and beekeeping shall be conducted to minimize aggressive behavior, swarming, or nuisance impacts.

C. Permitted species. The only species of bee that may be kept, housed, or maintained within the City is the European honey bee. The keeping, housing, or maintenance of any other bee species, including native bees, stingless bees, bumblebees, or any non-Apis mellifera species, is prohibited.

7.28.060 Location standards.

Hives shall be located no closer to the adjacent features listed in Table 7.28.060-1 than the minimum setbacks specified.

Table 7.28.060-1 - Hive Location Standards
Minimum Setback Requirement
Adjacent Feature When Obstructed by a
Flight Dispersing Barrier
When Not Obstructed by a
Flight-Dispersing Barrier
Property Lines 6 feet 12 feet
Public Right-of-Way 20 feet 40 feet
A. Measurement of setbacks. Setbacks established in Table 7.28.060-1 shall be measured as follows:

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Exhibit A

1. Minimum setbacks shall be measured in a straight line from the outermost edge of the hive to the nearest point of the adjacent feature.

2. Where a hive is located near multiple adjacent features (e.g., a property line on one side and a public right-of-way on another), the minimum setback applies independently to each feature.

7.28.070 Maximum number of hives.

Each property may have one hive, with one additional hive allowed for every 5,000 square feet of lot area.

7.28.080 Request for plans or inspection.

At the request of the City Manager or their designee, the City may require the property owner or beekeeper to submit plans, diagrams, or other information, or may conduct an inspection of the property, as reasonably necessary to verify compliance with the requirements of this Chapter. The requested materials shall be submitted, or the inspection shall be scheduled, within 30 calendar days of the written request, unless a longer timeframe is approved by the City Manager or their designee upon finding that special circumstances exist that would make it unreasonably difficult to comply within the 30 calendar day period.

7.28.090 Applicability of zoning requirements.

Nothing contained in this Chapter shall be deemed to authorize any agricultural or similar use not otherwise permitted under the provisions of Title 21 (Zoning).

Conversely, nothing in Title 21 (Zoning) shall be construed to prohibit the keeping of bees when conducted in compliance with this Chapter.

7.28.100 Severability.

If any provision or clause of this Chapter or the application thereof is held to be invalid, such invalidity shall not affect the other provisions or applications of this Chapter which can be given effect without the invalid provision or application, and to this end, the provisions of this Chapter are declared to be severable.

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City Council Report
DATE: March 24, 2026
TITLE: Discussion of SB 79 and request for Council feedback regarding approach to implementation in Campbell, including potential preparation of a Transit Oriented Development Alternative Plan (TOD Alt Plan)
RECOMMENDED ACTION:

Provide direction to staff regarding which SB 79 implementation pathway to pursue:

EXECUTIVE SUMMARY
Senate Bill 79 (SB 79), effective July 1, 2026, establishes statewide minimum development standards for housing located near qualifying transit stops and significantly expands allowable housing capacity in those areas. In the City of Campbell, SB 79 would apply to nearly 25% of the City’s land area and enable over ten times (10x) the housing capacity anticipated by the City’s Housing Element’s regional housing needs allocation (RHNA) (reference Attachment 1 – SB 79 Study Area).

This report provides:
• An overview of SB 79 and how it applies locally;
• A summary of potential community and land use impacts; • An explanation of the City’s statutory tools available to implement SB 79, including “site exclusions” and adoption of a “Transit Development Alternative Plan / TOD Alt Plan”;
• A discussion of related, legally required zoning updates and discretionary policy initiatives currently under development in the Community Development Department that could be addressed in tandem with the development of a SB 79 Alt Plan.

The report seeks City Council direction on whether to pursue a TOD Alt Plan and whether that effort should be coordinated with related policy and zoning updates to improve Item 8.1
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efficiency, such as the By Right Housing Ordinance and the Multifamily Development Design Standards (MFDSS), as discussed later in this report.

As a separate but related public hearing item, staff also recommends advancing an urgency ordinance to allow for the removal of sites from SB 79, as permitted under state law.

DISCUSSION
The following discussion is presented in three key sections:

I. Senate Bill 79, to explain the core requirements and local effects of the legislation on Campbell;
II. Transit Development Alternative Plan (TOD Alt Plan), which represents an expanded local implementation option under SB 79; and
III. Related Policy and Zoning Updates, a discussion of other related essential and discretionary workplan efforts that can be pursued under the options presented.

I. Senate Bill 79
Senate Bill 79, known as the Abundant and Affordable Homes Near Transit Act, will take effect on July 1, 2026. The law requires cities to allow qualifying housing development projects on sites zoned for residential, mixed-use, or commercial development that are located within one-half mile of a designated transit-oriented development (TOD) stop.

The law establishes statewide minimum standards for residential density, building height, and residential floor area ratio (FAR). These standards vary based on proximity to the transit stop and the stop’s classification as either Tier 1 or Tier 2.

SB 79 does not create a new entitlement process and does not provide a standalone exemption from the California Environmental Quality Act (CEQA). Projects that qualify under SB 79 must proceed through existing permit processes, although some projects may independently qualify for ministerial approval, statutory or categorical CEQA exemptions, or streamlined environmental review under other State housing laws.

A. Eligibility Criteria for SB 79 Projects
To qualify for SB 79, a project must satisfy all statutory eligibility criteria, including:
• Housing development project. The project must be a “housing development project” under the HAA, generally consisting of residential or mixed-use development with at least two-thirds of the floor area devoted to residential use. • No transient lodging. No portion of the project may be designated for transient lodging, including hotels, motels, or bed-and-breakfast inns. • Five or more housing units. The project must include five or more housing units. • Minimum density. The project must be at least 30 dwelling units per acre or the minimum density required under local zoning.

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• Zoning. The project must be located on a site that is zoned for residential, mixeduse, or commercial development. • Average unit size. Individual housing units may not exceed 1,750 net habitable square feet, excluding garages, parking areas, and other non-habitable space. • Affordable housing. The project must provide affordable housing the greater of:
 The City’s local inclusionary housing requirement; or  The SB 79 affordability thresholds, which apply to projects of 11 units or more.
• Prevailing wage. Projects exceeding 85-feet in height must comply with prevailing wage and skilled and trained workforce requirements.

B. Where SB 79 Applies in Campbell
Within Campbell, SB 79 applies to areas located within one-half mile of four VTA light rail stations: Hamilton, Downtown Campbell, and Winchester Stations, as well as a limited number of properties within one-half mile of the Bascom Station located north of Hamilton Avenue in the City of San José. The one-half mile distance is measured in a straight line from the nearest edge of the parcel containing the proposed project to a pedestrian access point serving the applicable station.

Figure 1 – SB 79 Study Area
Because SB 79 does not define “pedestrian access point,” staff identified the access points that serve as the basis of the SB 79 Study Area Map (reference Attachment 1).

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Under the statute, the metropolitan planning organizationiis required to publish official maps, Staff’s analysis reflects a conservative interpretation pending publication of those maps which are not anticipated to be produced until after the effective date of SB 79 (July 1, 2026).

As the bill only applies to areas currently zoned for residential, mixed-use, or commercial development, sites with an Industrial, Research and Development, Public Facilities, or Open Space land use designation are excluded. In addition, the City may exclude properties that lack a pedestrian access path of less than one mile, as well as qualifying historic sites (see related discussion under “Permanent and Temporary Site Exclusions Under SB 79”). Consistent with this framework, the city is advancing the consideration of site exclusions as an initial implementation action (“Phase 1”), tentatively scheduled for March 24, 2026.

C. Which SB 79 Standards Apply to Campbell
Campbell’s three light rail stations, as well as the Bascom Station located north of Hamilton Avenue in the City of San José, are classified as “Tier 2” transit stops under SB 79 and are therefore subject to the following standards, as described below:
• Adjacent to a TOD stop (within 200 feet of a pedestrian access point):
o Maximum height: 85 feet
o Maximum density: 140 dwelling units per acre
o Minimum residential FAR: 4.0
• Within one-quarter mile of a TOD stop:
o Maximum height: 65 feet
o Maximum density: 100 dwelling units per acre
o Minimum residential FAR: 3.0
• Between one-quarter mile and one-half mile of a TOD stop:
o Maximum height: 55 feet
o Maximum density: 80 dwelling units per acre
o Minimum residential FAR: 2.5
Although SB 79 allows substantially more intensive residential development than currently planned, building heights are generally limited to 55 to 85 feet[1], depending on proximity to transit. As a result, the actual physical scale of development may be more constrained than implied by the density of development allowed. In addition, these standards cannot be increased through the State Density Bonus Law, including through waivers or concessions.

In order to allow reconciliation between SB 79 and the City’s objective standards (“MFDDS”) staff is recommending targeted updates to the MFDDS, as a related policy and zoning effort, to avoid unintended outcomes and ensure building heights are applied intentionally and consistently (see related discussion under “Related Policy and Zoning Updates”).

D. Transit Agency Projects
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SB 79 also expands the ability of transit agencies to exercise land use authority over properties they own within a ½‑mile radius of qualifying transit stops, allowing these agencies to establish their own minimum development standards for sites held before July 1, 2025.

In Campbell, the 1.6‑acre Winchester Station property at 2400 Winchester Boulevard is the primary VTA-owned site with development potential. While VTA could adopt standards for building heights, residential density, and other parameters, the likelihood of major changes is low, as the site was recently approved for a housing development.

Any standards adopted by VTA would be subject to approval by the VTA Board of Directors. City staff will continue to coordinate with VTA staff concerning redevelopment of the Winchester site.

E. Potential Community Impacts
The city has proactively planned for high-density housing development around its light rail stations through its adopted Housing Element, identifying multiple housing sites as Transit-Oriented and prescribing residential densities up to 75 dwelling units per acre.

These targeted opportunity sites reflect the City’s strategic approach to concentrating growth where infrastructure and transit access can best support it. However, the breadth of parcels affected by SB 79 extends well beyond the City’s planned opportunity sites, encompassing areas not previously intended for higher-density development.

While SB 79 establishes a clear statutory framework for increasing housing capacity near transit, applying these State standards in Campbell raises several implementation considerations, including:

1. Increase in Housing Capacity
SB 79 would impact nearly 25% of Campbell’s land area, creating the potential to increase housing capacity by over ten times beyond what was allocated under the previous Housing Element.

RHNA 6 Assignment SB 79 Additional Capacity
2,977 units
(RHNA assignment)
±40,409
(after removal of historic properties;
and sites >1 mile walk distance)
While most of these units remain theoretical for now, particularly as developers pursue lower-density projects based on current market conditions, they could be developed as economic conditions improve.

2. Impact on Low-Density Residential Areas
Depending on proximity to qualifying transit stops, SB 79 would require minimum residential densities that are substantially higher than those currently permitted in many low-density residential neighborhoods. In Campbell, maximum densities under SB 79 would be at least 40 dwelling units per acre, even in areas where existing development is predominantly single-family in character. This represents a significant departure from current zoning and could introduce redevelopment pressure in neighborhoods not historically planned for multifamily housing.

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While other state laws, including SB 450 and SB 1123, already allow for increased density in single-family areas (up to 10 units per parcel), SB 79 would further expand these allowances by establishing higher maximum density standards tied to transit proximity.

3. Conversion Pressure on Downtown & Commercial Properties SB 79 applies to sites zoned for residential, mixed-use, or commercial development and does not exempt properties designated for employmentgenerating uses. As a result, SB 79 may incentivize the conversion of commercial or light industrial properties to residential use, particularly in areas near transit where housing densities are highest.

Many of these areas were already subject to potential residential conversion under prior State legislation, including Senate Bill 6 (SB 6) and Assembly Bill 2011 (AB 2011), which authorize housing development on qualifying commercial and commercial corridor sites subject to specific affordability, labor, and project eligibility requirements. However, SB 79 increases the likelihood of redevelopment by allowing higher residential densities on sites located near transit and by expanding housing eligibility to include parcels dedicated to industrial use that were not previously eligible for residential development.

Of particular note for Campbell are properties south of Winchester Station along Camden Avenue, which carry a General Commercial / Light Industrial land use designation. Application of SB 79 standards in these areas could undermine longterm economic development objectives and reduce opportunities for jobgenerating uses if not carefully managed through available statutory tools, including a TOD Alt Plan or authorized site exclusions.

4. Risk to Mobile Home Parks
SB 79 does not categorically exempt mobile home parks from eligibility. As a result, mobile home park properties located within SB 79–eligible TOD zones could be subject to redevelopment pressure under the statute.

In Campbell, Timber Cove Mobile Home Park would be the most exposed of the City’s two mobile home parks based on proximity to qualifying transit. The City’s second mobile home park, Paseo de Palomas, is resident-owned, which may limit practical redevelopment risk.

The State is currently considering adopting a trailer bill to SB 79 that would explicitly exclude mobile home parks from eligibility. If adopted, it would provide additional protection for these communities without the City needing to take any action.

F. Permanent and Temporary Site Exclusions Under SB 79
SB 79 also provides specific, statutorily authorized mechanisms for local governments to exclude certain sites from SB 79 eligibility through adoption of local ordinances subject to review by the Department of Housing and Community Development (HCD).

Relevant exclusion mechanisms include:

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• Permanent exclusion based on pedestrian access, where a site within one-half mile of a TOD stop lacks a pedestrian access path of less than one mile, supported by substantial evidence; and
• Temporary exclusion for historic resources, applicable to sites designated on a local historic register as of January 1, 2025.

SB 79 requires any local exclusions from SB 79 applicability to be adopted by ordinanceii and submitted to the California Department of Housing and Community Development (HCD) in advance of the law taking effect on July 1, 2026. The statute provides HCD 90 days to review a submitted ordinance and determine whether the exclusions are consistent with the statute. During that period, HCD may object or require revisions. If HCD does not object within the review window, the exclusions are deemed effective.

In light of these requirements, staff has prepared and recommends adopting an urgency ordinance as a separate but related public hearing item at this same Council meeting to identify sites eligible for permanent or temporary exclusions under SB 79, including properties on Campbell’s historic register and sites located more than one mile away by pedestrian travel. Adoption on March 24, 2026, will allow sufficient time for HCD review and confirmation of consistency before the statute’s effective date. This approach allows the City to preserve its ability to implement site-specific exclusions authorized by SB 79, regardless of whether it elects to pursue a Transit-Oriented Development Alternative Plan, as described in the following section.

II. Transit Development Alternative Plan (TOD Alt Plan) In addition to site-specific exclusions, SB 79 authorizes local governments to adopt a TOD Alt Plan as a means of modifying how State development standards apply across TOD zones.

An Alternative Plan may take the form of a zoning ordinance, overlay, specific plan, or Housing Element program and may be applied citywide, to multiple TOD stations, or to individual TOD areas. Unlike permanent and temporary exclusions, a TOD Alt Plan does not need to be adopted by July 1, 2026; however, it must be submitted to and reviewed by HCD and reevaluated as part of the next Housing Element cycle.

SB 79 imposes several key guardrails on TOD Alt Plans, including:
• Overall Capacity: The plan must maintain at least the same total net zoned housing capacity, measured in both dwelling units and residential FAR, as would be allowed under direct application of SB 79. Existing units and existing developed floor area must be discounted when calculating net capacity. • Site Specific Limits: The plan may not reduce the maximum residential density or FAR on any individual site, on which the plan allows residential use, by more than 50 percent of what SB 79 would otherwise allow, except for limited categories such as historic resources or hazard-constrained sites. The plan may also not increase site capacity beyond 200 percent of the SB 79 maximum on any individual parcel.
• Station-Area Limits: The plan may not reduce total residential capacity within a single TOD zone by more than 50 percent.

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Within these statutory parameters, the City retains some flexibility to redistribute density, establish locally tailored development standards, and shape long-term development patterns around transit. At the same time, these guardrails constrain the degree to which a TOD Alt Plan can meaningfully reduce development capacity or materially alter nearterm development outcomes.

The following discussion provides an overview of the potential advantages and disadvantages of preparing a TOD Alt Plan under SB 79, focusing on how the remaining areas of local discretion could be used and whether pursuing a TOD Alt Plan would provide sufficient policy or implementation benefits to justify the required effort and cost at this time. Additionally, the discussion includes examples illustrating the potential land use outcomes of pursuing or not pursuing a TOD Alt Plan.

A. Potential Advantages of Adopting a TOD Alt Plan
The items below summarize key reasons why it may be appropriate for the City to consider preparation of a TOD Alt Plan, especially from a long-range policy perspective:
• Reassignment of Development Capacity. Provides the City with a mechanism to evaluate and redistribute residential density and development capacity across transit-oriented development areas in a deliberate and analytically supported manner, including directing higher-intensity development away from established single-family neighborhoods, the Downtown area, historic sites, and commercially important sites that are critical to the City’s long-term economic viability.
• Preservation of Areas Designated for Commercial Use. A TOD Alternative Plan may exclude commercial sites that do not permit residential use, such The Home Depot, Legacy Hamilton Plaza, or the Hamilton Shopping Center (anchored by Wholefoods). Accordingly, the City may preserve key commercial properties or uses provided that the corresponding loss of capacity is made up for on other sites.
• Option to Designate Additional Areas/Sites as Historic. Without a TOD Alternative Plan, the City may only exclude sites that were designated on a Historic Register prior to January 1, 2025. Under a TOD Alternative Plan, however, the City may designate additional sites as historic and exclude them from applicability, provided that such designations do not exceed 10 percent of the eligible area within any transit-oriented development zone and provided that the corresponding loss of capacity is made up for on other sites. • Option to Establish Higher Minimum Densities. As part of a TOD Alternative Plan, the City could consider establishing higher minimum densities to better align with the new maximum densities allowed under SB 79. For sites that do not currently have a residential land use designation, the minimum density would default to 30 dwelling units per acre. As a result, if development proposals are submitted for these sites, key parcels could be developed with lower-density townhome projects which are favorable to build under current market conditions unless the City increases the minimum density to narrow the allowable density range. For example, the City’s Transit-Oriented Mixed-Use Item 8.1
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land use designation currently establishes a range of 57–75 dwelling units per acre. Similarly, areas affected by SB 79 could be assigned higher minimum densities (57+) to ensure development outcomes that better support transitoriented goals and better utilize non-residential properties redeveloped for housing.
• Advance Housing Element Planning. Allows the City to begin addressing how state-mandated capacity is allocated in advance of the next Housing Element update, rather than deferring those determinations to a compressed Housing Element schedule.

To help illustrate the potential benefits of adopting a Transit-Oriented Development (TOD) Alternative Plan, the following maps present three scenarios: (1) not adopting a TOD Alternative Plan, (2) adopting a TOD Alternative Plan that reduces impacts in sensitive areas, and (3) adopting a TOD Alternative Plan that prioritizes housing growth in already planned higher-density areas.

The first map shows the potential impact of SB 79 if the City does not adopt a TOD Alternative Plan. In this scenario, the default densities established by SB 79 would apply.

Figure 2 – Outcome without TOD Alternative Plan (Attachment 2) Item 8.1
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The second scenario illustrates how the City could reduce potential impacts to the downtown and single-family areas by reducing the density assigned by SB 79 in those locations by half, in exchange for increasing the allowable density on sites already designated for higher-density housing, including parcels with High Density Mixed-Use (HD-MU), Commercial Corridor Mixed-Use (CC-MU), and Transit-Oriented Mixed-Use (TO-MU) land use designations.

Figure 3 – Scenario 2 – Reduce Impact to Downtown & Single-Family Properties Existing
Max.

Density1
Scenario 1
Without TOD
Alternative Plan
Scenario 2
Reduce Impact to
Downtown and SingleFamily Properties2
Downtown Areas
(Central Business
Mixed-Use)
33 du/ac 50 du/ac
(predominantly)
Single-Family
Neighborhoods
(Low-Density
Residential)
<7.5 du/ac
80 du/ac (½ mile)
100 du/ac (¼ mile)
140 du/ac (200 ft) 40 du/ac
(predominantly)
1 Utilizing the City’s small-unit density bonus program and density increases allowed under State Density Bonus law, the actual maximum allowable density is significantly greater. 2 Predominantly, outcomes on individual properties will vary based on proximity to qualifying transit stop.

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HD-MU, CC-MU,
& TO-MU
(High Density
Residential)
45, 60, & 75
du/ac
respectively
125 du/ac (½ mile)
170 du/ac (¼ mile)
220 du/ac (200 ft.)
The third scenario illustrates how non-residential properties, including parcels with a General Commercial (GC), General Commercial/Light Industrial (GC/LI), Professional Office (PO), and Neighborhood Commercial (NC) land use designations, many of which may be particularly susceptible to redevelopment under SB 79 and currently support employment and generate significant sales tax revenue (reference Attachment 5 – Economic Development Considerations) could be excluded from SB 79. In exchange, the City could maximize the densities allowed under SB 79 on sites already planned for higher-density housing, including parcels with HD-MU, CC-MU, and TO-MU land use designations.

Figure 4 – Scenario 3 - Eliminate Impact to Non-Residential Properties (Attachment 4) Existing Scenario 1 Scenario 3
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Max.

Density
Without TOD
Alternative Plan
Reduce Impact to NonResidential Properties3

GC, GC/LI, PO,
NC
(Commercial)
0 du/ac 0 du/ac

HD-MU, CC-MU, &
TO-MU
(High Density
Residential)
45, 60, & 75
du/ac
respectively
80 du/ac (½ mile)
100 du/ac (¼ mile)
140 du/ac (200 ft)
160 du/ac (½ mile)
200 du/ac (¼ mile)
280 du/ac (200 ft.)
Scenario 2 and Scenario 3 demonstrate the potential benefits of adopting a TOD plan if the City chooses to pursue it. Further refinement will be required, including consideration of public input and how other City actions, such as those described under "Option 3," could be implemented in combination with a TOD plan.

B. Potential Disadvantages and Considerations
The items below summarize key considerations that may weigh against initiating a TOD Alt Plan in the near term, including market feasibility, statutory limitations, costs, and resource demands.
• Limited Near-Term Redevelopment Likelihood. Under current market conditions, the likelihood of significant redevelopment that would fully leverage SB 79 incentives in the near term appears relatively low. Most properties are not economically or logistically positioned for higher-density development without major lot consolidation, which introduces significant additional costs, complexity, and risk. Market demand for higher-density residential projects remains weak, and financing such projects is challenging in the near term. Moreover, the sites most capable of supporting redevelopment are already designated as Housing Opportunity Sites in the Housing Element, meaning that any incremental benefits from a TOD Alternative Plan would likely be minimal in the foreseeable future. • Statutory Constraints on Outcomes. SB 79 significantly constrains the City’s ability to reduce development capacity and intensity on parcels within its affected area. Even with a TOD Alt Plan, the City must maintain most of the state-mandated capacity.

For example, SB 79 states that a TOD Alt Plan may only reduce the assigned maximum residential density of a site that allows residential use by half of its initial assignment. Thus, for the single-family neighborhoods in the ½ mile radius affected by SB 79 with a prescribed density of 80 du/acre, the TOD Alt Plan can only reduce this density to 40 du/acre.

However, a TOD Alt Plan may be used to eliminate eligibility for sites that do not permit residential use – including sites in the City with a Commercial/Light Industrial land use designation.
3 Predominantly, outcomes on individual properties will vary based on proximity to qualifying transit stop.

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• Process and Timeline Requirements. Preparation of a TOD Alt Plan would require a substantial planning process, including technical capacity analysis, policy development, public outreach, and HCD review. As the TOD Alt Plan is a new process, there is no established track record for estimating the time needed to prepare a Plan and complete the HCD review. Based on experience from preparation of the last Housing Element, staff roughly expects the process could take 12-18 months. The plan must also be revisited and potentially amended as part of the next Housing Element cycle, creating ongoing workload commitments. • Legislative Uncertainty. Preparation of a Transit-Oriented Development (TOD) Alternative Plan may not be warranted at this time due to ongoing legislative and regulatory uncertainty surrounding SB 79.

The bill’s author, Senator Scott Wiener, is currently working with Senator Aisha Wahab and Assembly member Alex Lee on amendments to address concerns related to mobile home parks and potential displacement. Because targeted updates to the bill are actively being discussed, there is a reasonable possibility that the statutory framework will change. Initiating a TOD Alt Plan now could result in expending resources on a planning effort that may need to be revised or restarted once amendments are adopted.
• Limited Staff Resources, Costs, Competing Workplans Development of a TOD Alt Plan would require significant staff time in addition to consultant support.

Dedication of staff time to preparing the TOD Alt Plan would compete with other high-priority policy initiatives and state-mandated planning efforts, such as completion of the Hamilton Avenue Precise Plan and adoption of ordinances implementing other state housing laws. The city currently has five urgency ordinances requiring follow-up, including those related to SB 450, SB 1123, SB 1211, the City’s Wireless Ordinance, and the Tobacco Ordinance. Staff estimates that the consultant costs needed to support the plan will be between roughly $100,000 and $300,000.

Related Policy and Zoning Updates
In addition to Senate Bill 79 implementation, the City is currently working on several related policy and zoning matters that affect many of the same geographic areas and regulatory topics as SB 79.

1. By-Right Housing (BRH) Update
The City will be required to update its Zoning Map and associated By-Right Housing Overlay regulations in response to the recent appellate court decision in New Commune DTLA LLC v. City of Redondo Beach. That decision clarified that housing overlays used to satisfy Housing Element site inventory requirements may not continue to allow nonresidential development on sites relied upon to meet RHNA obligations. In short, a By Right Housing zoning designation must only allow residential development and cannot continue to allow commercial development. As the city assigned its By-Right Housing Overlay to several commercial sites, such as shopping centers, it must modify and re-assign the zoning to avoid conflicts with ongoing commercial uses.

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2. Multi-Family Development and Design Standards (MFDDS) When the City of Campbell adopted its Multi-Family Development and Design Standards in 2023, it was acknowledged that the standards would need to be tested and refined over time to reflect best practices and staff experience. Subsequent changes to state law have reinforced the need for updates and revising the MFDDS with local implementation of SB 79 would help ensure the standards appropriately account for increased residential densities.

Thus, staff recommends the city adopt adjustments to the MFDDS to prevent unintended outcomes under SB 79, where inaction may result in development intensities exceeding those required by state law.

For example, in areas without an existing form-based zone, such as single-family residential neighborhoods, the MFDDS currently assigns zones and standards based on project density, which could allow building heights of up to 75 feet, exceeding the requirements of SB 79 for properties located more than 200-feet from a pedestrian access point. In these situations, staff recommends targeted updates to ensure that building heights and development intensities are applied intentionally, consistently, and in alignment with state law.

3. MTC Transit-Oriented Communities Policy
The City’s consideration of SB 79 implementation may occur alongside its evaluation of consistency with the Metropolitan Transportation Commission’s Transit-Oriented Communities (TOC) Policy, as discussed at the Planning Commission study session on October 28, 2025.

MTC’s TOC Policy prescribes that cities adopt certain high density residential standards and more intensive commercial floor area ratio requirements in areas around transit stations, in addition to actions to minimize parking and support multimodal planning and housing and business support programs. While adoption of MTC’s TOC Policy is not required, compliance helps the City’s competitiveness for future regional transportation funding opportunities, including the One Bay Area Grant (OBAG 4) program. Several SB 79 provisions, particularly those establishing maximum residential density near transit, directly advance TOC objectives, while other TOC policy areas would require separate and discretionary City action. If the city does pursue adoption of a TOC Alt Plan, staff recommends concurrently pursuing updates to address TOC policy consistency.

4. Urban Land Institute Technical Advisory Panel (ULI-TAP) Recommendations The Urban Land Institute Technical Advisory Panel (ULI-TAP) recommendations for the East Campbell Avenue corridor also intersect with SB 79 implementation. The TAP emphasized enabling higher-density residential development, improving walking and multimodal access, and focusing investment on catalyst sites to better connect Downtown Campbell and the Pruneyard. These recommendations align geographically with SB 79-affected station areas and may inform how development capacity and public realm improvements are considered as part of a broader stationarea planning approach.

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IMPLEMENTATION OPTIONS
To support Council deliberation, staff has identified three principal implementation pathways. Each option preserves the City’s ability to adopt site-specific exclusions under SB 79, which are being advanced separately through the proposed urgency ordinance presented under a separate agenda item.

Option 1 – Direct staff to initiate preparation of a TOD Alt Plan immediately This approach would position the City to proactively respond to SB 79 prior to its effective date of July 1, 2026. Initiating work now would allow staff to develop a scope of work and release a request for proposals for consultant services, positioning the City to execute a contract promptly once the law and related guidance are clarified. This approach could allow work to commence with minimal delay.

Staff believes commercial parcels present the greatest potential for development under SB 79 and, for that reason, would likely recommend focusing a TOD Alternative Plan on these areas (Scenario 3 above). While the plan could also evaluate single-family neighborhoods and the Downtown area, development in these locations would likely require significant lot consolidation and is further constrained by limits on shifting density from these areas. As a result, staff believes there is less immediate need to focus on these areas.

However, if SB 79 is substantially modified through a budget trailer bill or other legislative action that takes effect as early as July 1, 2026, it may be necessary to recirculate the RFP to ensure alignment with final statutory requirements. While this option provides the most proactive timeline, it requires committing staff time and consultant procurement resources in advance of finalized mapping and potential legislative changes.

Option 2 (Staff Recommended) – Defer consideration of initiation Under this approach, the city would wait until MTC publishes the official SB 79 station area maps and the California Department of Housing and Community Development provides related implementation guidance before initiating preparation of a TOD Alt Plan.

Deferral would provide clarity regarding the specific parcels affected, applicable density standards, and procedural requirements.

This timing would also allow the City to evaluate the scope and funding of a TOD Alt Plan following adoption of the annual budget, providing a more refined understanding of available resources and how this effort would compete with or complement other Council priorities.

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Overall, this option reduces the risk of duplicative work or premature policy decisions, allows the City to account for any legislative amendments that may occur in July, and ensures that scope, cost, and strategy are grounded in finalized mapping, clear statutory direction, and confirmed budget capacity. A second option available to the City in a delayed approach to preparing a TOD Alt Plan would be to enfold the work into the next Housing Element (7th Cycle) update, starting in 2031. While this would be a notable delay, it allows for an economy of scale and a reduction in duplication of efforts.

Under Option 2, staff recommends providing an update to Council in the fall of 2026 with more information on the status of SB 79 (amendments to the law, HCD guidance) and recommendations on next steps
Option 3 – Evaluate targeted land use and zoning amendments as an alternative to a TOD Alt Plan
Under SB 79, certain industrial properties with a mixed-use designation may be at risk of conversion to residential uses. This option would direct staff to explore targeted General Plan and zoning map amendments to align certain properties with a General Commercial/Light Industrial land use designation consistent with their existing use (e.g., redesignating a site such as Hayward Lumber as Industrial rather than Commercial/Industrial), as an alternative to preparing a TOD Alt Plan. Because SB 79 applies to sites that allow residential uses, redesignating parcels with an industrial land use to match their active use could remove them from the statute’s applicability. In the near term, this approach could provide temporary protection for select sites, but it would not achieve the full benefits of a TOD Alt Plan in terms of shifting residential densities among parcels to better manage growth and station-area development.

A key advantage of this option is that it would not require review or approval by the California Department of Housing and Community Development (HCD), which could allow the City to pursue the changes on a faster timeline. Because the amendments would involve relatively targeted land use and zoning updates, the effort could likely be completed with limited or no outside consultant support, relying primarily on existing staff resources. However, this strategy is legally more tenuous, as it could invite scrutiny or challenge from the California Department of Housing and Community Development or other parties. The Legislature could also act to close such a gap through subsequent amendments and potentially apply those changes retroactively. Accordingly, the legal defensibility and long-term durability of this approach would require careful evaluation.

Option 4 – Allow SB 79 to take effect without further action.

Under this option, the City would not pursue preparation of a Transit Oriented Development (TOD) Alternative Plan or initiate targeted land use and zoning amendments in response to SB 79. Instead, the City would allow the statute to take effect Item 8.1
Tuesday, March 24, 2026 115 of 474

as written and continue administering development proposals consistent with State law and existing local regulations.

If no action is taken, the City would retain its current General Plan land use designations and zoning framework within station areas. However, beginning July 1, 2026, development proposals that qualify under SB 79 could proceed with the standards and allowances established by State law, which may override certain local development regulations in applicable areas.

This approach would require the least immediate staff effort and would avoid the need for near-term policy or zoning updates. However, it would also forgo the opportunity for the City to proactively shape how SB 79 is implemented locally, including the ability to designate areas for exclusion through a TOD Alternative Plan or to explore land use changes intended to preserve certain existing commercial or industrial sites.

FISCAL IMPACT
There is no immediate fiscal impact associated with providing direction.

If the City Council directs preparation of a Transit-Oriented Development Alternative Plan (TOD Alt Plan) or pursues Option 3 to evaluate targeted land use and zoning amendments, consultant costs are estimated between $100,000 and $300,000 depending on the scope of work.
• Under Option 1, staff would proceed with a request for budget appropriation now, in advance of the FY 2026-27 budget, to allow the City to issue a request for proposals and potentially award a contract promptly once the law and guidance are clarified.
• Under Option 2 (Staff Recommended), the budget request and subsequent RFP and contract award would occur following adoption of the FY 2026-27 budget, allowing Council to confirm available funds and prioritize this effort alongside other budget items.
• Under Option 3, little to no consultant support is anticipated to evaluate sitespecific land use and zoning amendments. Staff would return to the City Council to request a budget appropriation only if challenges arise that cannot be addressed with existing staffing resources.
• Under Option 4, no direct costs would be incurred. However, over the longer term, the City could experience a loss of revenue if key commercial properties are redeveloped with non-commercial uses.

All work would be subject to budget authorization and the availability of funds.

PUBLIC OUTREACH
Item 8.1
Tuesday, March 24, 2026 116 of 474

Courtesy notifications were provided via the City’s email service, SB 79 project website, and agenda center. No public comments were received at the time of report preparation.

ENVIRONMENTAL DETERMINATION
This Study Session is not a “project” under CEQA (CEQA Guidelines §15378) as it involves policy review only. CEQA review will occur as part of future planning efforts as described in the staff analysis and/or potential future actions. [1] While these height limits generally may not be exceeded, even when utilizing State Density Bonus Law, projects that meet the requirements of Government Code section 65915(d)(2)(D) may be eligible for an additional height increase of up to three stories, or 33 feet.

PREPARED BY: Stephen Rose, Senior Planner
Item 8.1
Tuesday, March 24, 2026 117 of 474

Report Approval Details
Document Title: Discussion of SB 79 Impacts in Campbell and Council Feedback on Preparation of a Transit Oriented Development Alternative Plan (TOD- Alt Plan).docx
Attachments: Attachment 1 - SB79 Study Area.pdf.pdf
Attachment 2 - Scenario 1 (No TOD Alternative Plan).pdf.pdf Attachment 3 - Scenario 2 (Reduce Impacts to Downtown & SFR).pdf
Attachment 4 - Scenario 3 (Eliminate Impacts to Nonresidential Properties).pdf
Attachment 5 - Economic Development Considerations.pdf
Final Approval
Date:

March 18, 2026
This document and all of its attachments were approved and signed as outlined below:
i
For Santa Clara County, the metropolitan planning organization is the Metropolitan Transportation Commission (MTC).
ii And
Item 8.1
Tuesday, March 24, 2026 118 of 474

FALLBROOK AVE

PARKWEST DR

VIA MONTALVO
S
P
R
U
A
N
C
E
CT

ACAPULCO DR

LEMOYNE WAY

RINCON AVE
VIA
CODOR
N
ZI

VALERIE DR
L
U
J
O
S
O
CT

FRUITDALE AVE

IMPALA DR

CADILLAC DR

PAYNE AVE

FIRESIDE DR

WALGROVE WAY

WILLIAMS RD

GREENTREE WAY

BLACKFORD LN
ARC
RD

LOMA VERDE DR

BENJAMIN CT

WILLIAMSBURG DR

VIA DESTE

ST ANTHONY DR

COMPTON CT

WHITETHORNE DR

STOKES ST

PAMLAR AVE

EISENHOWER DR

MCBAIN AVE

CHERRY GROVE DR

DRIFTWOOD DR

PATIO DR

DRY CREEK RD

HUXLEY CT

CURTNER AVE

SUNNYBROOK DR

APRIL WAY

WILLOWHURST AVE

UNION AVE

DAVID AVE
S
T
O
C
K
B
RI
DG
E
D
R

E LATIMER AVE

MORELAND WAY
DARRYL
D
R

LENN DR

CASTLEMONT AVE

LLEWELLYN AVE
L
ATIM
E
R
AV
E

SOMERSET DR

MERIDIAN AVE

LEIGH AVE

S WINCHESTER BLVD

COLOMBO DR

CAMBRIAN DR
D
ELL
AVE

DOWNING AVE

HURST AVE
NEW
JERSEY
AVE

TURNWOOD CT

ALTA GLEN DR

EL PATIO DR

SAN TOMAS EXPY

WILLOWBRAE AVE

KEESLING AVE

BIRCH ST

MARILYN DR

TANKIT DR

GATON DR

GALE DR

WESTMONT AVE

BECK DR

COMPTON LN
MIC
H
AE
L
D
R

CLOVERDALE LN

BARKWOOD WAY

CARLYN AVE

W HACIENDA AVE

RICKENBACKER ST

BESS CT

CAROLA AVE

BONGATE CT

LAMORE DR

MENDENHALL DR
PA
R
S

ONS AVE

CENTRAL PARK DR

GREENBAY CT

VANDERBILT DR

ALMARIDA DR

MARIA WAY

CREEKSIDE WAY
N
S
A
N
T
O
M
A
S
A
Q
UIN
O
R
D
GAY
AV
E

LOS GATOS CREEK TRAIL

MAUNEY CT
LOS
ALAMOS
DR
D
E
L
O
A
C
H
CT

VALLEJO DR
W
EIB
E
L
WAY

HAZEL AVE

N MIDWAY ST

THORNTON WAY

ARAM AVE

COLONIAL WAY
PINEHU
R
S
T
S
Q

DOGWOOD CT

LOTTIE LN

CHE R RYW
O
O
DSQ

MCCOY AVE

CAXTON CT

CHALET WOODS PL

BEDAL PARK CT

CONSTITUTION
DR

HAMILTON
P
L

OLIVA LN

BAYLEAF CT

WESTFIELD AVE

WESTON DR

CIRONE WAY

AINSLEY PARK DR

SOUTHWEST EXPY

PHOENIX CT

VIRGINIA AVE

E RINCON AVE

ALEX DR

MOUNT VERNON DR

SAM CAVA LN

VIA CARMEN

CYPRESS LN

SONADOR CM

WENTE WAY
N
L
EIG
H
AV
E

S MIDWAY ST
ION CT
S
P
RU
A
N
C
E
S
T

HARRIS AVE

SUNNYSIDE AVE
PVT CT

L AGE DR

TOLWORTH DR

LANTZ AVE

E CAMPBELL AVE

PLAT FORM WAY
W
E
NTE PL

ARNOLD WAY

SUN GL O RY
L
N
ASH CT

BUCKNALL RD

W CAMPBELL AVE

PHELPS AVE

YORK AVE
S 3RD ST

SUNKIST WAY

CONSTITUTION CT

REDBUD CT

W LATIMER AVE

GINGER LN
KE
E
N
A
N
WAY

SONUCA CT
S
SAN
TOMAS
AQ
U
I
N
O
RD
WALNUT
DR

PENNY LN

VAN SANSUL AVE
S
U
N
B
E
RRY
DR

PEACHTREE CT

HONEYDEW WAY

SHAYNOR CT
M
E
R
RIVA
L
E

WEST SQ
L
O
M
A
V
E
R
D
E
C
N
D
A
C
C
E
S
S

CENTURY DR

CENTURY CT

DONOVAN CT

ORCHARD CITY DR
M
I
L
L
I
C
H
L
N

HARRIET AVE

BRAXTON TER

ANGELA CT

GRACE CT
C
H
A
N
D
ON
CT

CANNERY CIR

GREYLANDS DR

TOMASINA CT

OLYMPIA AVE

ARROYO SECO DR

EL PATIO CT

WYLIE WAY

BOXCAR DR

PILAND DR

YELLOWSTONE DR

DILLARD CT
C
HIVAS
P
L

BELLE TERRE CT

DREAMLAND WAY

TORERO PLAZA

WAINWRIGHT DR
F
E
NIA
N
D
R
N 3RD ST

PYRAMID CT

ALPHA CT

CHARMWOOD SQ

CORLISS WAY
S
B
A
S
C
O
M
AV
E

DILLON AVE

GAMMA CT

JUSTO CT

BETA CT

HARVESTER PL

HILTON AVE
GUNAR
DR

SANFILIPPO CT

RICKY CT

SHEFFIELD CT MOSSBROOK AV E

DARRYL CT

CHIVAS CT

BORELLO DR

CLARITA AVE

MONTEMAR WAY

PHOENIX DR

SOBRATO LN
L
E
XIN
G
T
O
N
D
R

RIO SERENA AVE

ESSEX WAY

CABANA DR

CALADO AVE

VALLEY FORGE WAY

NORTHAMPTON DR
S 2ND ST

MONA WAY

GOLDEN MEADOW SQ

W SAN TOMAS AQUINO RD
S 1ST ST
EC
K
E
R
CT

HAMILTON AVE

UNNAMED ST

CAMPBELL AVE
L
O
N
G
S
H
O
R
E
D
R

GRACE AVE

BOISE DR

CIVIC CENTER DR

ROBWAY AVE

SUNNYSIDE CT

JOSEPHINE AVE

FAWN DR

SHAMROCK DR

CORA CT

MERRIMAC DR
W
O
O
D
L
AW
N
AV
E
O R C
HARD

OAK CIR
N
O
R
M
A
N
AV
E

CUSTER DR

HERITAGE PL

KIRKLYN DR
S
T
F
RA
N
C
I
S
D
R

CLIFTON AVE

VERONICA PL

PORGY PL

BERINGER CT
S
W
E
E
T
B
RIA
R
D
R

MERLONE CT

EDEN AVE

WHITEHALL AV

BRAEBURN CT
S
A
N
G
A
B
RIE
L
WAY

CANELA PL
MASSIH
CT

PHANTOM AVE

LUIKA PL
EVA CT

SANFORD AVE

VIZCAYA CIR

GREENCREEK DR

PETER CT

SONUCA AVE

SOBRATO CT

ROSEMARY LN

SHEFFIELD AVE

SAVERIO CT

SUNLAND CT

JONATHAN CT

FETZER CIR

MONICA LN

MONTE CARLO WAY

LINDBERGH AVE

SMITH AVE

E MCGLINCY LN

THUNDERBIRD WAY

CAROLA CT

HILTON CT

MOSSBR O OK C RI

WESTMORELAND CT

PATIO CT

ARCHER CT
S
PAIC
H
D
R

LAMONT CT

CRESTMONT DR
SH
E
R
E
E
N
P
L

ANTONIO LN

MCKINNON CT

PIMENTON PL
S
A
N
T
O
M
A
S
A
Q
UIN
O
R
D
G
R
E
E
N
B
RIA
R
AV
E

LADYWOOD CT

CAMINO CERRADO
C
H
E
R

RY BLOSSOM LN

GLENN AVE

KEN CIR

SOBRATO WAY

BISMARCK DR

FR IAR WAY
PA
R
K
D
ALE
DR

DELGADO CT

BEDAL LN

BLUEBIRDDR

MIDDLETOWN CT

TIMBER COVE DR

ORESTES WAY

MONTADITO PL
STAN
FIELD
DR

RACHEL CT

MILLICH DR

EVERETT AVE
APPLE
B
L
O
S
S
O
M
L
N

SAN TOMAS CT

PAYMAN PL
VIA
C
O
N
T
E
N
TA

COLLEEN WAY

CHERRY LN

ANTHONY DR

INDUSTRIAL ST

PEGGY CT
D
E
L
L
A
C
T
BUCK
N
A
M
C
T

TWYLA CT

MARY CT

SOBRATO DR
MEM
O
RY
L
N
D
A
RIE
N CT
S
CENT
RA
L
AV
E

STONEHURST WAY
C
A

B O OSE LN

OAK PARK LN

MILLICH CT

WILSON CT

WESTPARK DR
E

N G LIS H
R
O
S
E
C
RI

QUAIL HOLLOW DR

REX CIR

UNION PL

PINE BRIDGE PL

CASTRO DR

ALLEGADO ALLEY

LANA CT

CAMEO CT

STUDENT LN

HEDEGARD AVE

E SUNNYOAKS AVE

PAULINE DR

S MONROE ST

ERIE WAY

JONES WAY

FAIRLANDS AVE

KAYLA CT

RAILWAY AVE

THERESAAVE

CAMEO DR
M
C
B
AIN
CT

ROSE CT
MAGGIO
CT

CHALET WOODS CIR
S
C
L
O
V
E
R
AV
E

GREENBRIAR CT

RIBBON DR

SHARON CT
B
E

A U LIEU CT

ASHLOCK CT

LOIS WAY

CERVANTES WAY

CASTRO CT
KIM CT

KIM LOUISE DR

S MCGLINCY LN

XAVIER CT
S
G
E
N
E
V
EI V
E
L
N

HACIENDA CT

JEWELL DR

ROJO PL

MEADOWS
CT
D
RY
C
REEK
CT
B
E
N
J
A
MIN
AVE

WOODING CT

GILMAN AVE

ALBERT WAY

VIZCAYA WAY

LOMA PARK DR

W SUNNYOAKS AVE

DRESSER CT

LA MIEL CT

LEIGH ANN PL
G
INDEN
D
R

GLEASON AVE

BRONWEN WAY

CAMDEN AVE

SPRINGFIELD DR
N 2ND ST
K
O
C
H
E
R
D
R

SILACCI DR
VIA
R
O
MA

CAVALIER CT

CHARMAIN DR
S
L
E
GI H
AV
E

LITTLETON PL

INSKIP DR

NAUTILUS CT

RICKY DR

ARCHER WAY

NERO CT

SURREY PL

N PETER DR

INWOOD DR

CAPRI DR

DEL ROYCT

KENNEDY AVE

QUANTICO CT

SOMERSWORTH DR

DEL PRADO DR

PICADILLY PL

ALBERTSTONE DR

MANX AVE
FREDA
CT

BUDD C T
C
U
R
T
N
E
R

GLEN CT
N
O
RIN
C
T

ARDILLA CT
ROME
R
O
S
T

GWEN DR

MONETA WAY

FLAMINGO DR

VIA CRISTOBAL

NORSTAD ST

WELLINGTON PL

SCHRADER DR

SALMAR AVE
R
U
N
N
Y
M
E
D
E
D
R

NEVILLE AVE
L
A
V
O
N
N
E
D
R

KAMSON WAY

HUERTO DR

CARAVELLA DR
PA
R
K
H
U
R
S
T
D
R

FIERROLOOP

MARATHON DR

B ETH WAY

ADRIEN DR

ALLERTON
LOOP

BUCKNAM AVE

WREN WAY

VIA RANCHERO
M
O
N
T
E
Z
U
M
A
D
R
W
HIT
E
H
A
L
L
AVE

THERESA LN

LOMA PARK CT
CU
L
L
E
N
C
T

SAFFLE CT

HERITAGE
DR

ROSALIA AVE

VIA NAPOLI

E HAMILTON AVE

NICHOLAS
DR

TWYLA LN

MILLBROOK CT

KENPARK CT
NELLO
DR

YUKON WAY

LAWNDALE AVE
CA
N
A
RY
L
N

LE BAIN DR

DUNCANVILLE CT

FLORA AVE

ASSUNTA WAY

ENSENADA DR

VILLARITA DR

WALDO RD

GLADYS WAY

DUNSTER DR
KEN
N
ETH
ST

HOCKING WAY

LAURA DR

ABBEY LN
R
E
D
O
A
K
S
D
R

HARTLEY CT

ST LAWRENCE DR

KLAMATH DR

WOODFLOWER WAY

ABINANTE LN

CHRISTOPHER AVE
WI
N
S
L
O
W
C
T

LA MIEL WAY

BUDD AVE

MEMPHIS DR

SADIE CT
LU
A
N
N
E
D
R

HAZELWOOD AVE

CHARLESTON DR

AINSLEY CT

YUBA AVE

PENWITH AVE

SHULMAN AVE

LINDA DR
N
C
E
N
T
RA
L
AV
E

KIRKMONT DR

BOYNTON AVE

ABBEY CT
JAS
MIN
E
C
T
N 1ST ST

MANCHESTER AVE

FRONTIER WAY
SYD
N
O
R
D
R

W HAMILTON AVE
LAU
RANCE

HILL CT

BEN HUR CT

NIDO DR

BENT DR

SUNSWEET WAY

BEVERLY CT

S PETER DR

TRAVIATA PL

PEGGY AVE

PAGE ST
LA
C
ON
CT

DOVER WAY

INWOOD CT

PAULA DR

ST PAUL DR

EVORA DR

REDEN DR
S 4TH ST

TUBBY ST

MAYKIRK RD

SUNNYPARK CT

POPLAR AVE

ADLER AVE

BARBANO AVE

WHITWOOD
L
N

DALLAS DR

SUNNYARBORCT

SHADLE AVE

CALADO CT
H
O
RAC
E
AVE

CRAIG AVE

RADFORD DR

PARKVIEW AVE

HUERTO CT

ONTARIO LN

VIOLET WAY

DE TRACEY ST

JOSEPH AVE

HARRIS CT

MANTON CT
AMAT
O
AV
E

TRAILBLAZER PL

ERIN WAY

GLENBLAIR WAY

DRY CREEK WAY
SA LM
A
R
T
E
R

GRANT ST
L

ORELEI CT

CAPE COD CT

CALIFORNIA ST

QUEBEC WAY

MORRIS LN

PATRICIA CT

LYLE LN

C OUN TRYWOOD CT

WALTERS AVE

MITCHELL CT
VICTO
R
AV
E
GREENW

CI H CT

QUEENS CT

MAYWOOD AVE

FOOTE AVE
M
O
N
TAVO
PL
G
RA
H
A
M
D
R

KINGS CT

JEFFERS WAY

DEL OROCT
W
O
O
D
G

ROVE SQ

FAWN CT

HERBERT LN

DECORAH LN

BRIARWOOD
WAY

GOMES CT

SUPERIOR DR

WESTMORELAND
DR

ROBINRIDGE WAY

REGALO CT
HI
CKORY
CT

SALICE WAY

DUVALL DR

PARQUET CT

VALERIE CT
MIC
H
E
L
L
E
D
R

EBBETS DR

TIOGA WAY

REGAS DR

ONTARIO DR

FILBERT WAY
S
D
A
N
EI L
WAY

LOUISE CT

HAMILTON PARK DR

SCOTT CT

SHEILA CT

REGINA WAY

ELAM AVE

BUDDLAWN WAY

KEITH DR

RAMITA CT

WELKER CT

PECAN WAY

SUNNYMEAD CT

SUNNYLAKE CT
D

E CARLI CT

ARNOTT WAY

SUNNYGATE CT
H
A
R
RIS
O
N
AVE

KENNETH AVE

JOHN KIRK CT

CONNIE DR

NADINE DR

SCHOOLDALE DR

VIA SALICE
F
O
RMAN
DR

WAGON WAY

ALICE AVE

RUE MONTAGNE

WEKIVA AVE

TEAKWOOD DR

CAMPISI WAY
B
U
E
N
A
L
U
N
A
C
T

MAXIMILIAN DR

SALERNO DR
A
B
B
OTT
AVE
IDA DR

WHITE OAKS RD

VIA CANCION

RIDGELEY DR

OLD ORCHARD RD

JIM ELDER DR

ALEGRI A LO
O
P

BRADDOCK CT

WESTCHESTER DR

MIDDLETOWN DR

MALLEY WAY

MAPLE AVE

SHARMON PALMS LN
D
E
L
N
A
M
A
N
O
R
L
N

LOST LAKE LN
M
A
RG
A
R
E
T
L
N

LA PRADERA DR

HIGHLAND PARK LN

HAWTHORNE AVE

BURROWS RD
SAN

TOMAS AQUINO PKWY

MARINA WAY

WILTON DR

NIAGARA DR

FOXHA LL LOO
P

W RINCON AVE
S
B
AYW
O
O
D
AV
E

SCHUBERT AVE
N
M
LI T
O
N
AV
E

BLAND AVE

FINCH DR

MORRENE DR

E ROSEMARY LN

HOLLIS AVE

CRONWELL DR

VERNAL DR

WATSON DR

ELDEN DR

LISA WAY
S
A
N
A
R
D
O
D
R

LOVELL AVE

MCKINNON DR
S
A
N
TA IN
E
Z
D
R

WENDELL DR

DORVAL DR
C
A
S
S
AI R
D
R

HAYFORD DR

SPENO DR

RAVENSCOURT AV

VIA MILANO
PRICE
WAY

BRANBURY DR

MARIANNA WAY

CROCKETT AVE

COVENTRY DR

SONDRA WAY
S
MILT
O
N
AV
E

TURNER WAY

MUNRO AVE

WARWICK DR

DENVER DR

NORWICH WAY

WEST VALLEY DR

PALO SANTO DR

MADOC WAY
P
O
M
P
E
Y
D
R

TILBURY DR

DOT AVE

NEET AVE

MERRY LN

GRIMSBY DR

NOTTINGHAM WAY

DOLORES DR

VERWOOD DR

E HACIENDA AVE

EL SOLYO AVE

ECHO AVE

CHAMBERLIN CT
L

A T IMER CIR
POE LN

VL SQUARE LN

HUNT WAY

VALLEY SQUARE DR
J
A
N
E
A
N
N
WAY

EL MORO DR

SUMMERFIELD
DR

LOYALTON DR

KENDRA WAY

ROBIN LN

APRICOT AVE

NORMANDY DR

KUEHNIS DR

RICHLEE DR

EMORY AVE

KOBARA LN

JEFFREY AVE

KIRBY WAY

ESTHER AVE

SHADY DALE AVE

EL CAMINITO AVE

LENOR WAY

HARDY AVE

W ROSEMARY LN

FEWTRELL DR

CATALPA LN

LINDAIRE AVE

CAMPBELL TECHNOLOGY
PKWY

EMPEY WAY

WALDEN SQ
D
E
L
M
A
R
AV
E

MARAVIL
LA
C
T
§¨¦17
§¨¦17
´
Miles
0 0.25 0.5

S A N J O S E

L O S G A T O S

S A N J O S E

CITY OF CAMPBELL
Pedestrian Access Point
Parcels Within 200 Foot Buffer
Parcels Within 1/4 Mile Buffer
Parcels Within 1/2 Mile Buffer
SB79 STUDY AREA
Item 8.1
Tuesday, March 24, 2026 119 of 474

VIA MONTALVO
S
P
R
U
A
N
C
E
CT
VIA
CODOR
N
ZI
L
U
J
O
S
O
CT

FRUITDALE AVE

CAROLA AVE

IMPALA DR

CADILLAC DR

PAYNE AVE

FIRESIDE DR

WALGROVE WAY

WILLIAMS RD

GREENTREE WAY

BLACKFORD LN
ARC
RD

LOMA VERDE DR

BENJAMIN CT

WILLIAMSBURG DR

VIA DESTE

ST ANTHONY DR

COMPTON CT

WHITETHORNE DR

STOKES ST

PAMLAR AVE

EISENHOWER DR

MCBAIN AVE

CHERRY GROVE DR

DRIFTWOOD DR

PATIO DR

DRY CREEK RD

HUXLEY CT

CURTNER AVE

SUNNYBROOK DR

APRIL WAY

WILLOWHURST AVE

UNION AVE

DAVID AVE
S
T
O
C
K
B
RI
DG
E
D
R

E LATIMER AVE
DARRYL
D
R

CASTLEMONT AVE

LLEWELLYN AVE

SOMERSET DR

MERIDIAN AVE

LEIGH AVE

S WINCHESTER BLVD

CAMBRIAN DR
D
ELL
AVE

DOWNING AVE

HURST AVE
NEW
JERSEY
AVE

TURNWOOD CT

ALTA GLEN DR

EL PATIO DR

SAN TOMAS EXPY

WILLOWBRAE AVE

KEESLING AVE

BIRCH ST

MARILYN DR

TANKIT DR

GATON DR

W LATIMER AVE

GALE DR

BECK DR

COMPTON LN
MIC
H
AE
L
D
R
C
L
O
V
E
R
D
A
L
E
L
N

BARKWOOD WAY

CARLYN AVE

W HACIENDA AVE

RICKENBACKER ST

BESS CT
PA
R
S

ONS AVE

CENTRAL PARK DR

GREENBAY CT

ALMARIDA DR

MARIA WAY

CREEKSIDE WAY
GAY
AV
E

LOS GATOS CREEK TRAIL

MAUNEY CT
D
E
L
O
A
C
H
CT
D
R
E
A
M
L

A N D WAY
W
EIB
E
L
WAY

HAZEL AVE

N MIDWAY ST

THORNTON WAY

ARAM AVE

COLONIAL WAY
PINEHU
R
S
T
S
Q

DOGWOOD CT

LOTTIE LN

CAXTON CT

CHALET WOODS PL

BEDAL PARK CT

CONSTITUTION
DR

HAMILTON
P
L

OLIVA LN

BAYLEAF CT

WESTFIELD AVE

CIRONE WAY

AINSLEY PARK DR

SOUTHWEST EXPY

PHOENIX CT

VIRGINIA AVE

E RINCON AVE

MOUNT VERNON DR

SAM CAVA LN

VIA CARMEN

ACAPULCO DR

CYPRESS LN

SONADOR CM

WENTE WAY
N
L
EIG
H
AV
E
S
MIDWAY
S
T
ION CT
S
P
RU
A
N
C
E
S
T

HARRIS AVE

SUNNYSIDE AVE
PVT CT

TOLWORTH DR

LANTZ AVE

E CAMPBELL AVE

PLA T FORM WAY
W
E
NTE PL

RINCON AVE

ARNOLD WAY

SUN GL O RY
L
N
ASH CT

W CAMPBELL AVE PHELPS AVE
S 3RD ST

SUNKIST WAY

BUCKNALL RD

CONSTITUTION CT

REDBUD CT

GINGER LN
KE
E
N
A
N
WAY

SONUCA CT
S
SAN
TOMAS
AQ
U
I
N
O
RD
WALNUT
DR

PENNY LN

VAN SANSUL AVE
S
U
N
B
E
RRY
DR

HONEYDEW WAY

SHAYNOR CT
L
O
M
A
V
E
R
D
E
C
N
D
A
C
C
E
S
S

CENTURY DR

CENTURY CT

DONOVAN CT

ORCHARD CITY DR
MIL
L
CI H
L
N

BRAXTON TER

ANGELA CT

GRACE CT
C
H
A
N
D
ON
CT

CANNERY CIR

GREYLANDS DR

TOMASINA CT

OLYMPIA AVE

ARROYO SECO DR

EL PATIO CT

WYLIE WAY

BOXCAR DR

PILAND DR

YELLOWSTONE DR

DILLARD CT
C
HIVAS
P
L

BELLE TERRE CT

CHAMBERLIN CT TORERO PLAZA

WAINWRIGHT DR
N 3RD ST

PYRAMID CT

ALPHA CT

CORLISS WAY
S
B
A
S
C
O
M
AV
E

DILLON AVE

GAMMA CT

JUSTO CT

BETA CT

HARVESTER PL
GUNAR
DR

SANFILIPPO CT

RICKY CT

SHEFFIELD CT

DARRYL CT

CHIVAS CT

BORELLO DR

CLARITA AVE

MONTEMAR WAY

PHOENIX DR

SOBRATO LN
L
E
XIN
G
T
O
N
D
R

ESSEX WAY

CABANA DR

VALLEY FORGE WAY

NORTHAMPTON DR
S 2ND ST

MONA WAY

GOLDEN MEADOW SQ

W SAN TOMAS AQUINORD
S 1ST ST

MERRIVALE WEST SQ
EC
K
E
R
CT

HAMILTON AVE

VIA CRISTOBAL

UNNAMED ST

CAMPBELL AVE
L
O
N
G
S
H
O
R
E
D
R

GRACE AVE

BOISE DR

CIVIC CENTER DR

ROBWAY AVE

LEMOYNE WAY

CHARM W O
O
D
S
Q

SUNNYSIDE CT

JOSEPHINE AVE

SHAMROCK DR

CORA CT

MERRIMAC DR
W
O
O
D
L
AW
N
AV
E
O R C
HARD

OAK CIR
N
O
R
M
A
N
AV
E

CUSTER DR

HERITAGE PL

KIRKLYN DR
S
T
F
RA
N
C
I
S
D
R

CLIFTON AVE

VERONICA PL

PORGY PL

BERINGER CT
S
W
E
E
T
B
RIA
R
D
R

MERLONE CT

EDEN AVE

WHITEHALL AV

BRAEBURN CT
S
A
N
G
A
B
RIE
L
WAY

CANELA PL

PHANTOM AVE

ALBERTSTONE DR

SANFORD AVE

VIZCAYA CIR

GREENCREEK DR

PETER CT

SONUCA AVE

SOBRATO CT

ROSEMARY LN

SHEFFIELD AVE

JONATHAN CT

FETZER CIR

MONICA LN

MONTE CARLO WAY

LINDBERGH AVE

SMITH AVE

E MCGLINCY LN

THUNDERBIRD WAY

WESTMORELAND CT

PATIO CT
S
PAIC
H
D
R

CRESTMONT DR
SH
E
R
E
E
N
P
L

ANTONIO LN

PIMENTON PL
G
R
E
E
N
B
RIA
R
AV
E

LADYWOOD CT

CAMINO CERRADO
C
H
E
R

RY BLOSSOM LN

GLENN AVE

KEN CIR

SOBRATO WAY

BISMARCK DR

FR IAR WAY
PA
R
K
D
ALE
DR

DELGADO CT

BEDAL LN

BLUEBIRDDR

MIDDLETOWN CT

TIMBER COVE DR

MONTADITO PL
STAN
FIELD
DR

MILLICH DR

EVERETT AVE
APPLE
B
L
O
S
S
O
M
L
N
VIA
C
O
N
T
E
N
TA

CHERRY LN

ANTHONY DR

INDUSTRIAL ST

PEGGY CT
BUCK
N
A
M
C
T

TWYLA CT

MARY CT

SOBRATO DR
MEM
O
RY
L
N
D
A
RIE
N CT
S
CENT
RA
L
AV
E

STONEHURST WAY
C
A

B O OSE LN

OAK PARK LN

MILLICH CT

WILSON CT

WESTPARK DR

QUAIL HOLLOW DR

REX CIR

UNION PL

PINE BRIDGE PL

ALLEGADO ALLEY

LANA CT

CAMEO CT

HEDEGARD AVE

E SUNNYOAKS AVE

PAULINE DR

S MONROE ST

JONES WAY

FAIRLANDS AVE

KAYLA CT

RAILWAY AVE

THERESAAVE

CAMEO DR
M
C
B
AIN
CT

ROSE CT
MAGGIO
CT

CHALET WOODS CIR
S
C
L
O
V
E
R
AV
E

RIBBON DR

GREENBRIAR CT

SHARON CT
B
E

A U LIEU CT

LOIS WAY

CERVANTES WAY

S MCGLINCY LN

XAVIER CT
S
G
E
N
E
V
EI V
E
L
N

JEWELL DR

ROJO PL
D
RY
C
REEK
CT
B
E
N
J
A
MIN
AVE

WOODING CT

GILMAN AVE

ALBERT WAY

VIZCAYA WAY

LOMA PARK DR

W SUNNYOAKS AVE

DRESSER CT

LEIGH ANN PL

GLEASON AVE

CAMDEN AVE

SPRINGFIELD DR
N 2ND ST

TURNER WAY
K
O
C
H
E
R
D
R
VIA
R
O
MA

CAVALIER CT

CHARMAIN DR
S
L
E
GI H
AV
E

NAUTILUS CT

RICKY DR

NERO CT

SURREY PL

N PETER DR

CAPRI DR

DEL ROYCT

KENNEDY AVE

QUANTICO CT

SOMERSWORTH DR

DEL PRADO DR

PICADILLY PL

MANX AVE

BUDD C T
C
U
R
T
N
E
R

GLEN CT
N
O
RIN
C
T

ARDILLA CT
ROME
R
O
S
T

MONETA WAY

FLAMINGO DR

NORSTAD ST

WELLINGTON PL SCHRADER DR SALMAR AVE
R
U
N
N
Y
M
E
D
E
D
R

COLLEEN WAY
L
A
V
O
N
N
E
D
R

KAMSON WAY

HUERTO DR

CARAVELLA DR

FIERROLOOP

MARATHON DR

VALERIE DR

ALLERTON
LOOP

BUCKNAM AVE

WREN WAY

VIA RANCHERO
M
O
N
T
E
Z
U
M
A
D
R
W
HIT
E
H
A
L
L
AVE

THERESA LN

CHERRY W O
O
D
S
Q

LOMA PARK CT
CU
L
L
E
N
C
T

HERITAGE
DR

VIA NAPOLI

E HAMILTON AVE

NICHOLAS
DR

TWYLA LN

MILLBROOK CT

KENPARK CT
NELLO
DR

LAWNDALE AVE
CA
N
A
RY
L
N

DUNCANVILLE CT

ASSUNTA WAY

WALDO RD

GLADYS WAY

DUNSTER DR
KEN
N
ETH
ST

HOCKING WAY

LAURA DR

HAMILTON PA
R
K
D
R

ABBEY LN
R
E
D
O
A
K
S
D
R

HARTLEY CT

ST LAWRENCE DR

KLAMATH DR

WOODFLOWER WAY

ABINANTE LN

CHRISTOPHER AVE

BUDD AVE

MEMPHIS DR

SADIE CT
LU
A
N
N
E
D
R

HAZELWOOD AVE

CHARLESTON DR

AINSLEY CT

YUBA AVE

PENWITH AVE

SHULMAN AVE

LINDA DR
N
C
E
N
T
RA
L
AV
E

KIRKMONT DR

BOYNTON AVE

ABBEY CT

MUNRO AVE
N 1ST ST

MANCHESTER AVE

FRONTIER WAY
SYD
N
O
R
D
R

W HAMILTON AVE

BEN HUR CT

NIDO DR

BENT DR

SUNSWEET WAY

BEVERLY CT

S PETER DR

TRAVIATA PL

PEGGY AVE

PAGE ST
LA
C
ON
CT

DOVER WAY

PAULA DR

ST PAUL DR

EVORA DR
S 4TH ST

TUBBY ST

MAYKIRK RD

SUNNYPARK CT

POPLAR AVE

ADLER AVE

BARBANO AVE

LENN DR

DALLAS DR

SUNNYARBORCT

SHADLE AVE
H
O
RAC
E
AVE

CRAIG AVE

RADFORD DR

HUERTO CT

VIOLET WAY

DE TRACEY ST

JOSEPH AVE

HARRIS CT
AMAT
O
AV
E

ERIN WAY

GLENBLAIR WAY

DRY CREEK WAY
SA
LM
A
R
T
E
R

GRANT ST
L

ORELEI CT

CAPE COD CT

CALIFORNIA ST

QUEBEC WAY

MORRIS LN

PATRICIA CT

LYLE LN

C OUN TRYWOOD CT

WESTMONT AVE

MITCHELL CT
VICTO
R
AV
E
GREENW

CI H CT

QUEENS CT

MAYWOOD AVE

FOOTE AVE
M
O
N
TAVO
PL
G
RA
H
A
M
D
R

KINGS CT

JEFFERS WAY

DEL OROCT
W
O
O
D
G

ROVE SQ

HERBERT LN

DECORAH LN

BRIARWOOD
WAY

GOMES CT

WESTMORELAND
DR

ROBINRIDGE WAY

REGALO CT

SALICE WAY

PARQUET CT

VALERIE CT
MIC
H
E
L
L
E
D
R

TIOGA WAY

REGAS DR

ONTARIO DR

FILBERT WAY
S
D
A
N
EI L
WAY

LOUISE CT

SCOTT CT

SHEILA CT

BUDDLAWN WAY

RAMITA CT

PECAN WAY

SUNNYMEAD CT

SUNNYLAKE CT
D

E CARLI CT

ARNOTT WAY

SUNNYGATE CT
H
A
R
RIS
O
N
AVE

KENNETH AVE

ELAM AVE

CONNIE DR

NADINE DR

SCHOOLDALE DR

VIA SALICE
F
O
RMAN
DR

WAGON WAY

ALICE AVE

RUE MONTAGNE

WEKIVA AVE

TEAKWOOD DR

CAMPISI WAY
B
U
E
N
A
L
U
N
A
C
T

MAXIMILIAN DR

SALERNO DR
IDA DR

WHITE OAKS RD

VIA CANCION

RIDGELEY DR

OLD ORCHARD RD

JIM ELDER DR

ALEGRI A LO
O
P

BRADDOCK CT

WESTCHESTER DR

MIDDLETOWN DR

MALLEY WAY

MAPLE AVE

MORELAND WAY

SHARMON PALMS LN
D
E
L
N
A
M
A
N
O
R
L
N

LOST LAKE LN
M
A
RG
A
R
E
T
L
N

HIGHLAND PARK LN

HAWTHORNE AVE

BURROWS RD
SAN

TOMAS AQUINO PKWY

MARINA WAY

WILTON DR

NIAGARA DR

FOXHA LL LOO
P

W RINCON AVE
S
B
AYW
O
O
D
AV
E

SCHUBERT AVE
N
M
LI T
O
N
AV
E

BLAND AVE

FINCH DR

MORRENE DR

E ROSEMARY LN

HOLLIS AVE

CRONWELL DR

WATSON DR

ELDEN DR

LISA WAY
S
A
N
A
R
D
O
D
R

LOVELL AVE
S
A
N
TA IN
E
Z
D
R

WENDELL DR

SPENO DR

RAVENSCOURT AV

VIA MILANO
PRICE
WAY

BRANBURY DR

MARIANNA WAY

COVENTRY DR

SONDRA WAY
S
MILT
O
N
AV
E

WARWICK DR

DENVER DR

WEST VALLEY DR
P
O
M
P
E
Y
D
R

DOT AVE

NEET AVE

MERRY LN

NOTTINGHAM WAY

DOLORES DR

E HACIENDA AVE

EL SOLYO AVE

ECHO AVE
L

AT I MER CIR
POE LN

VL SQUARE LN

HUNT WAY

VALLEY SQUARE DR
J
A
N
E
A
N
N
WAY

EL MORO DR

KENDRA WAY

ROBIN LN

APRICOT AVE

NORMANDY DR

KUEHNIS DR

RICHLEE DR

EMORY AVE

KOBARA LN

JEFFREY AVE

KIRBY WAY

ESTHER AVE

SHADY DALE AVE

EL CAMINITO AVE

LENOR WAY

HARDY AVE

W ROSEMARY LN

FEWTRELL DR

CATALPA LN

LINDAIRE AVE

CAMPBELL TECHNOLOGY
PKWY

EMPEY WAY

WALDEN SQ
D
E
L
M
A
R
AV
E

MARAVIL
LA
C
T
§¨¦17
§¨¦17
´
Miles
0 0.25 0.5

S A N J O S E

L O S G A T O S

S A N J O S E
SB79 STUDY AREA

CITY OF CAMPBELL
Legend
Within 200 feet 140 du/acre
Within 1/4 mile 100 du/acre
Within 1/2 mile 80 du/acre
Permanant Site Removals: > 1 Mile Walk
Temporary Site Removals: Historic
City Limits
Scenario 1
No Alternative Plan
Item 8.1
Tuesday, March 24, 2026 120 of 474

VIA MONTALVO
S
P
R
U
A
N
C
E
CT
VIA
CODOR
N
ZI

W SAN TOMASAQUINO RD
L
U
J
O
S
O
CT

FRUITDALE AVE

IMPALA DR

CADILLAC DR

PAYNE AVE

FIRESIDE DR

WALGROVE WAY

WILLIAMS RD

GREENTREE WAY

BLACKFORD LN
ARC
RD

LOMA VERDE DR

BENJAMIN CT

WILLIAMSBURG DR

VIA DESTE

ST ANTHONY DR

COMPTON CT

WHITETHORNE DR

STOKES ST

PAMLAR AVE

EISENHOWER DR

MCBAIN AVE

CHERRY GROVE DR

DRIFTWOOD DR

PATIO DR

DRY CREEK RD

HUXLEY CT

CURTNER AVE

SUNNYBROOK DR

APRIL WAY

WILLOWHURST AVE

UNION AVE

DAVID AVE
S
T
O
C
K
B
RI
DG
E
D
R

E LATIMER AVE
DARRYL
D
R

CASTLEMONT AVE

LLEWELLYN AVE

SOMERSET DR

MERIDIAN AVE

LEIGH AVE

S WINCHESTER BLVD

CAMBRIAN DR
D
ELL
AVE

DOWNING AVE

HURST AVE
NEW
JERSEY
AVE

TURNWOOD CT

ALTA GLEN DR

EL PATIO DR

SAN TOMAS EXPY

WILLOWBRAE AVE

BIRCH ST

MARILYN DR

TANKIT DR

GATON DR

GALE DR
PVT CT
S
SAN
TO
MAS
AQU
I
N
O
RD

BECK DR

COMPTON LN
MIC
H
AE
L
D
R

BARKWOOD WAY

CARLYN AVE

W HACIENDA AVE

RICKENBACKER ST

BESS CT
HAMILT
O
N
PA
R
K
D
R
PA
R
S

ONS AVE

CENTRAL PARK DR

GREENBAY CT

ALMARIDA DR

MARIA WAY

CREEKSIDE WAY
GAY
AV
E

LOS GATOS CREEK TRAIL

MAUNEY CT
D
E
L
O
A
C
H
CT
D
R
E
A
M
L

A N D WAY
W
EIB
E
L
WAY

HAZEL AVE

N MIDWAY ST

THORNTON WAY

ARAM AVE

COLONIAL WAY
PINEHU
R
S
T
S
Q

DOGWOOD CT

LOTTIE LN
C
H
E
R

RYWOOD SQ

CAXTON CT

CHALET WOODS PL

BEDAL PARK CT

CONSTITUTION
DR

HAMILTON
P
L

MUNRO AVE

OLIVA LN

BAYLEAF CT

WESTFIELD AVE

CIRONE WAY

AINSLEY PARK DR

SOUTHWEST EXPY

PHOENIX CT

VIRGINIA AVE

E RINCON AVE

MOUNT VERNON DR

SAM CAVA LN

VIA CARMEN

ACAPULCO DR

CYPRESS LN

SONADOR CM

WENTE WAY
N
L
EIG
H
AV
E
S
MIDWAY
S
T
ION CT
S
P
RU
A
N
C
E
S
T

HARRIS AVE

SUNNYSIDE AVE

TOLWORTH DR

CAROLA AVE

LANTZ AVE

E CAMPBELL AVE

PLA T FORM WAY
W
E
NTE PL

ARNOLD WAY

SUN GL O RY
L
N
ASH CT

LENN DR

W LATIMER AVE

W CAMPBELL AVE PHELPS AVE
S 3RD ST

SUNKIST WAY

BUCKNALL RD

CONSTITUTION CT

REDBUD CT

GINGER LN
KE
E
N
A
N
WAY

SONUCA CT
WALNUT
DR

PENNY LN

VAN SANSUL AVE
S
U
N
B
E
RRY
DR

HONEYDEW WAY

SHAYNOR CT
L
O
M
A
V
E
R
D
E
C
N
D
A
C
C
E
S
S

CENTURY DR

CENTURY CT

DONOVAN CT

ORCHARD CITY DR
M
LI LIC
H
L
N

BRAXTON TER

ANGELA CT

GRACE CT
C
H
A
N
D
ON
CT

HAMILTON AVE

CANNERY CIR

GREYLANDS DR

TOMASINA CT

OLYMPIA AVE

ARROYO SECO DR

EL PATIO CT

WYLIE WAY

BOXCAR DR

PILAND DR

YELLOWSTONE DR

DILLARD CT
C
HIVAS
P
L

BELLE TERRE CT

TORERO PLAZA

WAINWRIGHT DR

RINCON AVE
N 3RD ST

ALPHA CT

CHARMWOOD SQ

CORLISS WAY
S
B
A
S
C
O
M
AV
E

DILLON AVE

GAMMA CT

JUSTO CT

BETA CT

HARVESTER PL
GUNAR
DR

SANFILIPPO CT

RICKY CT

SHEFFIELD CT

DARRYL CT

CHIVAS CT

BORELLO DR

CLARITA AVE

MONTEMAR WAY

PHOENIX DR

SOBRATO LN
L
E
XIN
G
T
O
N
D
R

ESSEX WAY

CABANA DR

VALLEY FORGE WAY

NORTHAMPTON DR
S 2ND ST

MONA WAY

GOLDEN MEADOW SQ

KLAMATH DR
S 1ST ST

MERRIVALE WEST SQ
EC
K
E
R
CT

UNNAMED ST

CAMPBELL AVE

WESTMONT AVE
L
O
N
G
S
H
O
R
E
D
R

GRACE AVE

BOISE DR

CIVIC CENTER DR

ROBWAY AVE

LEMOYNE WAY

SUNNYSIDE CT

JOSEPHINE AVE

SHAMROCK DR

CORA CT

MERRIMAC DR
W
O
O
D
L
AW
N
AV
E
O R C
HARD

OAK CIR
N
O
R
M
A
N
AV
E

CUSTER DR

HERITAGE PL

KIRKLYN DR
S
T
F
RA
N
C
I
S
D
R

CLIFTON AVE

VERONICA PL

PORGY PL

BERINGER CT
S
W
E
E
T
B
RIA
R
D
R

MERLONE CT

EDEN AVE

WHITEHALL AV

BRAEBURN CT
S
A
N
G
A
B
RIE
L
WAY

CANELA PL

PHANTOM AVE

SANFORD AVE

VIZCAYA CIR

GREENCREEK DR

PETER CT

SONUCA AVE

SOBRATO CT

ROSEMARY LN

SHEFFIELD AVE

JONATHAN CT

FETZER CIR

MONICA LN

MONTE CARLO WAY

LINDBERGH AVE

SMITH AVE

E MCGLINCY LN

THUNDERBIRD WAY

WESTMORELAND CT

PATIO CT
S
PAIC
H
D
R

CRESTMONT DR
SH
E
R
E
E
N
P
L

ANTONIO LN

PIMENTON PL
G
R
E
E
N
B
RIA
R
AV
E

LADYWOOD CT

CAMINO CERRADO
C
H
E
R

RY BLOSSOM LN

GLENN AVE

KEN CIR

SOBRATO WAY

BISMARCK DR

FR IAR WAY
PA
R
K
D
ALE
DR

DELGADO CT

BEDAL LN

BLUEBIRDDR

MIDDLETOWN CT

TIMBER COVE DR

MONTADITO PL
STAN
FIELD
DR

MILLICH DR

EVERETT AVE
APPLE
B
L
O
S
S
O
M
L
N
VIA
C
O
N
T
E
N
TA

CHERRY LN

INDUSTRIAL ST

PEGGY CT
BUCK
N
A
M
C
T

VIA CRISTOBAL

TWYLA CT

MARY CT

SOBRATO DR
MEM
O
RY
L
N
D
A
RIE
N CT
S
CENT
RA
L
AV
E

STONEHURST WAY
C
A

B O OSE LN

OAK PARK LN

MILLICH CT

WILSON CT

WESTPARK DR

QUAIL HOLLOW DR

REX CIR

UNION PL

PINE BRIDGE PL

RIBBON DR

ALLEGADO ALLEY

LANA CT

CAMEO CT

HEDEGARD AVE

E SUNNYOAKS AVE

PAULINE DR

S MONROE ST

JONES WAY

FAIRLANDS AVE

KAYLA CT

RAILWAY AVE

THERESAAVE

CAMEO DR
M
C
B
AIN
CT

ROSE CT
MAGGIO
CT

CHALET WOODS CIR
S
C
L
O
V
E
R
AV
E

GREENBRIAR CT

SHARON CT
B
E

A U LIEU CT

LOIS WAY

CERVANTES WAY

S MCGLINCY LN

XAVIER CT
S
G
E
N
E
V
EI V
E
L
N

JEWELL DR

ROJO PL
D
RY
C
REEK
CT
B
E
N
J
A
MIN
AVE

WOODING CT

GILMAN AVE

ALBERT WAY

VIZCAYA WAY

LOMA PARK DR

W SUNNYOAKS AVE

DRESSER CT

ELAM AVE

LEIGH ANN PL

GLEASON AVE

CAMDEN AVE

SPRINGFIELD DR
N 2ND ST
K
O
C
H
E
R
D
R
T
WY
L
A
L
N
VIA
R
O
MA

CAVALIER CT

CHARMAIN DR
S
L
E
GI H
AV
E

NAUTILUS CT

RICKY DR

NERO CT

SURREY PL

N PETER DR

CAPRI DR

DEL ROYCT

KENNEDY AVE

QUANTICO CT

SOMERSWORTH DR

DEL PRADO DR

PICADILLY PL

MANX AVE

BUDD C T
C
U
R
T
N
E
R

GLEN CT
N
O
RIN
C
T

ARDILLA CT
ROME
R
O
S
T

MONETA WAY

FLAMINGO DR

NORSTAD ST

WELLINGTON PL SCHRADER DR SALMAR AVE
R
U
N
N
Y
M
E
D
E
D
R

COLLEEN WAY L
A
V
O
N
N
E
D
R

KAMSON WAY

HUERTO DR

CARAVELLA DR

FIERROLOOP

LORELEI CT

MARATHON DR

VALERIE DR

KEESLING AVE

ALLERTON
LOOP

BUCKNAM AVE

WREN WAY

VIA RANCHERO
M
O
N
T
E
Z
U
M
A
D
R
W
HIT
E
H
A
L
L
AVE

THERESA LN

LOMA PARK CT
CU
L
L
E
N
C
T

HERITAGE
DR

VIA NAPOLI

E HAMILTON AVE

NICHOLAS
DR

MILLBROOK CT

KENPARK CT
NELLO
DR

LAWNDALE AVE
CA
N
A
RY
L
N

DUNCANVILLE CT

SADIE CT

ASSUNTA WAY

WALDO RD

GLADYS WAY

DUNSTER DR
KEN
N
ETH
ST

HOCKING WAY

LAURA DR

ABBEY LN
R
E
D
O
A
K
S
D
R

HARTLEY CT

ST LAWRENCE DR

WOODFLOWER WAY

NADINE DR

ABINANTE LN

CHRISTOPHER AVE

BUDD AVE

MEMPHIS DR
LU
A
N
N
E
D
R

HAZELWOOD AVE

CHARLESTON DR

AINSLEY CT

YUBA AVE

PENWITH AVE

SHULMAN AVE

LINDA DR
N
C
E
N
T
RA
L
AV
E

KIRKMONT DR

BOYNTON AVE

ABBEY CT
N 1ST ST

MANCHESTER AVE

FRONTIER WAY
SYD
N
O
R
D
R

W HAMILTON AVE

BEN HUR CT

NIDO DR

BENT DR

SUNSWEET WAY

BEVERLY CT

S PETER DR

TRAVIATA PL

PEGGY AVE

PAGE ST
LA
C
ON
CT

DOVER WAY

PAULA DR

ST PAUL DR

EVORA DR
S 4TH ST

TUBBY ST

MAYKIRK RD

SUNNYPARK CT

POPLAR AVE

ADLER AVE

BARBANO AVE

DALLAS DR

SUNNYARBORCT

SHADLE AVE
H
O
RAC
E
AVE

CRAIG AVE

RADFORD DR

HUERTO CT

VIOLET WAY

DE TRACEY ST

JOSEPH AVE

HARRIS CT
AMAT
O
AV
E

ERIN WAY

GLENBLAIR WAY

DRY CREEK WAY
SA
LM
A
R
T
E
R

GRANT ST

CAPE COD CT

CALIFORNIA ST

MORELAND WAY

QUEBEC WAY

MORRIS LN

PATRICIA CT

LYLE LN

C OUN TRYWOOD CT

MITCHELL CT
VICTO
R
AV
E
GREENW

CI H CT

QUEENS CT

MAYWOOD AVE

FOOTE AVE
M
O
N
TAVO
PL
G
RA
H
A
M
D
R

KINGS CT

JEFFERS WAY

DEL OROCT
W
O
O
D
G

ROVE SQ

HERBERT LN

DECORAH LN

BRIARWOOD
WAY

GOMES CT

WESTMORELAND
DR

ROBINRIDGE WAY

REGALO CT

SALICE WAY

PARQUET CT

VALERIE CT
MIC
H
E
L
L
E
D
R

TIOGA WAY

REGAS DR

ONTARIO DR

FILBERT WAY
S
D
A
N
EI L
WAY

LOUISE CT

SCOTT CT

SHEILA CT

BUDDLAWN WAY

RAMITA CT

PECAN WAY

SUNNYMEAD CT

SUNNYLAKE CT
D

E CARLI CT

ARNOTT WAY

SUNNYGATE CT
H
A
R
RIS
O
N
AVE

KENNETH AVE

CONNIE DR

SCHOOLDALE DR

VIA SALICE
F
O
RMAN
DR

WAGON WAY

ALICE AVE

RUE MONTAGNE

WEKIVA AVE

TEAKWOOD DR

CAMPISI WAY
B
U
E
N
A
L
U
N
A
C
T

MAXIMILIAN DR

SALERNO DR
IDA DR

WHITE OAKS RD

VIA CANCION

RIDGELEY DR

OLD ORCHARD RD

JIM ELDER DR

ALEGRI A LO
O
P

BRADDOCK CT

WESTCHESTER DR

MIDDLETOWN DR

MALLEY WAY

MAPLE AVE

SHARMON PALMS LN
D
E
L
N
A
M
A
N
O
R
L
N

LOST LAKE LN
M
A
RG
A
R
E
T
L
N

HIGHLAND PARK LN

HAWTHORNE AVE
SAN

TOMAS AQUINO PKWY

MARINA WAY

WILTON DR

NIAGARA DR

FOXHA LL LOO
P

W RINCON AVE
S
B
AYW
O
O
D
AV
E

SCHUBERT AVE
N
M
LI T
O
N
AV
E

BLAND AVE

FINCH DR

E ROSEMARY LN

HOLLIS AVE

CRONWELL DR

WATSON DR

ELDEN DR

LISA WAY
S
A
N
A
R
D
O
D
R

LOVELL AVE
S
A
N
TA IN
E
Z
D
R

WENDELL DR

SPENO DR

RAVENSCOURT AV

VIA MILANO
PRICE
WAY

BRANBURY DR

MARIANNA WAY

COVENTRY DR

SONDRA WAY
S
MILT
O
N
AV
E

WARWICK DR

DENVER DR

WEST VALLEY DR
P
O
M
P
E
Y
D
R

DOT AVE

NEET AVE

MERRY LN

NOTTINGHAM WAY

DOLORES DR

E HACIENDA AVE

EL SOLYO AVE

ECHO AVE
L

AT I MER CIR
POE LN

VL SQUARE LN

HUNT WAY

VALLEY SQUARE DR
J
A
N
E
A
N
N
WAY

EL MORO DR

KENDRA WAY

ROBIN LN

APRICOT AVE

NORMANDY DR

KUEHNIS DR

RICHLEE DR

EMORY AVE

KOBARA LN

JEFFREY AVE

KIRBY WAY

ESTHER AVE

SHADY DALE AVE

EL CAMINITO AVE

LENOR WAY

HARDY AVE

W ROSEMARY LN

FEWTRELL DR

CATALPA LN

LINDAIRE AVE

CAMPBELL TECHNOLOGY
PKWY

EMPEY WAY

WALDEN SQ
D
E
L
M
A
R
AV
E

MARAVIL
LA
C
T
§¨¦17
§¨¦17
´
Miles
0 0.25 0.5

S A N J O S E

L O S G A T O S

S A N J O S E
SB79 STUDY AREA

CITY OF CAMPBELL
No Change from Scenario 1
Within 200 feet 140 du/acre
Within 1/4 mile 100 du/acre
Within 1/2 mile 80 du/acre
Site Removals: Historic
Site Removals: > 1 Mile Walk
City Limits
Sites Decreased (-5597 units)
Decrease to 70 du/acre (200 feet)
Decrease to 50 du/acre (1/4 Mile)
Decrease to 40 du/acre (1/2 Mile)
Scenario 2
Difference: 321 units over capacity
Reduce Impact to Downtown
and Single Family Properties
Sites Increased (+5918 units)
Increase to 220 du/acre (200 feet)
Increase to 170 du/acre (1/4 Mile)
Increase to 125 du/acre (1/2 Mile)
Item 8.1
Tuesday, March 24, 2026 121 of 474

VIA MONTALVO
S
P
R
U
A
N
C
E
CT
VIA
CODOR
N
ZI

W SAN TOMASAQUINO RD
L
U
J
O
S
O
CT

FRUITDALE AVE

IMPALA DR

CADILLAC DR

PAYNE AVE

FIRESIDE DR

WALGROVE WAY

WILLIAMS RD

GREENTREE WAY

BLACKFORD LN
ARC
RD

LOMA VERDE DR

BENJAMIN CT

WILLIAMSBURG DR

VIA DESTE

ST ANTHONY DR

COMPTON CT

WHITETHORNE DR

STOKES ST

PAMLAR AVE

EISENHOWER DR

MCBAIN AVE

CHERRY GROVE DR

DRIFTWOOD DR

PATIO DR

DRY CREEK RD

HUXLEY CT

CURTNER AVE

SUNNYBROOK DR

APRIL WAY

WILLOWHURST AVE

UNION AVE

DAVID AVE
S
T
O
C
K
B
RI
DG
E
D
R

E LATIMER AVE
DARRYL
D
R

CASTLEMONT AVE

LLEWELLYN AVE

SOMERSET DR

MERIDIAN AVE

LEIGH AVE

S WINCHESTER BLVD

CAMBRIAN DR
D
ELL
AVE

DOWNING AVE

HURST AVE
NEW
JERSEY
AVE

TURNWOOD CT

ALTA GLEN DR

EL PATIO DR

SAN TOMAS EXPY

WILLOWBRAE AVE

BIRCH ST

MARILYN DR

TANKIT DR

GATON DR

GALE DR
PVT CT
S
SAN
TO
MAS
AQU
I
N
O
RD

BECK DR

COMPTON LN
MIC
H
AE
L
D
R

BARKWOOD WAY

CARLYN AVE

W HACIENDA AVE

RICKENBACKER ST

BESS CT
HAMILT
O
N
PA
R
K
D
R
PA
R
S

ONS AVE

CENTRAL PARK DR

GREENBAY CT

ALMARIDA DR

MARIA WAY

CREEKSIDE WAY
GAY
AV
E

LOS GATOS CREEK TRAIL

MAUNEY CT
D
E
L
O
A
C
H
CT
D
R
E
A
M
L

A N D WAY
W
EIB
E
L
WAY

HAZEL AVE

N MIDWAY ST

THORNTON WAY

ARAM AVE

COLONIAL WAY
PINEHU
R
S
T
S
Q

DOGWOOD CT

LOTTIE LN
C
H
E
R

RYWOOD SQ

CAXTON CT

CHALET WOODS PL

BEDAL PARK CT

CONSTITUTION
DR

HAMILTON
P
L

MUNRO AVE

OLIVA LN

BAYLEAF CT

WESTFIELD AVE

CIRONE WAY

AINSLEY PARK DR

SOUTHWEST EXPY

PHOENIX CT

VIRGINIA AVE

E RINCON AVE

MOUNT VERNON DR

SAM CAVA LN

VIA CARMEN

ACAPULCO DR

CYPRESS LN

SONADOR CM

WENTE WAY
N
L
EIG
H
AV
E
S
MIDWAY
S
T
ION CT
S
P
RU
A
N
C
E
S
T

HARRIS AVE

SUNNYSIDE AVE

TOLWORTH DR

CAROLA AVE

LANTZ AVE

E CAMPBELL AVE

PLA T FORM WAY
W
E
NTE PL

ARNOLD WAY

SUN GL O RY
L
N
ASH CT

LENN DR

W LATIMER AVE

W CAMPBELL AVE PHELPS AVE
S 3RD ST

SUNKIST WAY

BUCKNALL RD

CONSTITUTION CT

REDBUD CT

GINGER LN
KE
E
N
A
N
WAY

SONUCA CT
WALNUT
DR

PENNY LN

VAN SANSUL AVE
S
U
N
B
E
RRY
DR

HONEYDEW WAY

SHAYNOR CT
L
O
M
A
V
E
R
D
E
C
N
D
A
C
C
E
S
S

CENTURY DR

CENTURY CT

DONOVAN CT

ORCHARD CITY DR
M
LI LIC
H
L
N

BRAXTON TER

ANGELA CT

GRACE CT
C
H
A
N
D
ON
CT

HAMILTON AVE

CANNERY CIR

GREYLANDS DR

TOMASINA CT

OLYMPIA AVE

ARROYO SECO DR

EL PATIO CT

WYLIE WAY

BOXCAR DR

PILAND DR

YELLOWSTONE DR

DILLARD CT
C
HIVAS
P
L

BELLE TERRE CT

TORERO PLAZA

WAINWRIGHT DR

RINCON AVE
N 3RD ST

ALPHA CT

CHARMWOOD SQ

CORLISS WAY
S
B
A
S
C
O
M
AV
E

DILLON AVE

GAMMA CT

JUSTO CT

BETA CT

HARVESTER PL
GUNAR
DR

SANFILIPPO CT

RICKY CT

SHEFFIELD CT

DARRYL CT

CHIVAS CT

BORELLO DR

CLARITA AVE

MONTEMAR WAY

PHOENIX DR

SOBRATO LN
L
E
XIN
G
T
O
N
D
R

ESSEX WAY

CABANA DR

VALLEY FORGE WAY

NORTHAMPTON DR
S 2ND ST

MONA WAY

GOLDEN MEADOW SQ

KLAMATH DR
S 1ST ST

MERRIVALE WEST SQ
EC
K
E
R
CT

UNNAMED ST

CAMPBELL AVE

WESTMONT AVE
L
O
N
G
S
H
O
R
E
D
R

GRACE AVE

BOISE DR

CIVIC CENTER DR

ROBWAY AVE

LEMOYNE WAY

SUNNYSIDE CT

JOSEPHINE AVE

SHAMROCK DR

CORA CT

MERRIMAC DR
W
O
O
D
L
AW
N
AV
E
O R C
HARD

OAK CIR
N
O
R
M
A
N
AV
E

CUSTER DR

HERITAGE PL

KIRKLYN DR
S
T
F
RA
N
C
I
S
D
R

CLIFTON AVE

VERONICA PL

PORGY PL

BERINGER CT
S
W
E
E
T
B
RIA
R
D
R

MERLONE CT

EDEN AVE

WHITEHALL AV

BRAEBURN CT
S
A
N
G
A
B
RIE
L
WAY

CANELA PL

PHANTOM AVE

SANFORD AVE

VIZCAYA CIR

GREENCREEK DR

PETER CT

SONUCA AVE

SOBRATO CT

ROSEMARY LN

SHEFFIELD AVE

JONATHAN CT

FETZER CIR

MONICA LN

MONTE CARLO WAY

LINDBERGH AVE

SMITH AVE

E MCGLINCY LN

THUNDERBIRD WAY

WESTMORELAND CT

PATIO CT
S
PAIC
H
D
R

CRESTMONT DR
SH
E
R
E
E
N
P
L

ANTONIO LN

PIMENTON PL
G
R
E
E
N
B
RIA
R
AV
E

LADYWOOD CT

CAMINO CERRADO
C
H
E
R

RY BLOSSOM LN

GLENN AVE

KEN CIR

SOBRATO WAY

BISMARCK DR

FR IAR WAY
PA
R
K
D
ALE
DR

DELGADO CT

BEDAL LN

BLUEBIRDDR

MIDDLETOWN CT

TIMBER COVE DR

MONTADITO PL
STAN
FIELD
DR

MILLICH DR

EVERETT AVE
APPLE
B
L
O
S
S
O
M
L
N
VIA
C
O
N
T
E
N
TA

CHERRY LN

INDUSTRIAL ST

PEGGY CT
BUCK
N
A
M
C
T

VIA CRISTOBAL

TWYLA CT

MARY CT

SOBRATO DR
MEM
O
RY
L
N
D
A
RIE
N CT
S
CENT
RA
L
AV
E

STONEHURST WAY
C
A

B O OSE LN

OAK PARK LN

MILLICH CT

WILSON CT

WESTPARK DR

QUAIL HOLLOW DR

REX CIR

UNION PL

PINE BRIDGE PL

RIBBON DR

ALLEGADO ALLEY

LANA CT

CAMEO CT

HEDEGARD AVE

E SUNNYOAKS AVE

PAULINE DR

S MONROE ST

JONES WAY

FAIRLANDS AVE

KAYLA CT

RAILWAY AVE

THERESAAVE

CAMEO DR
M
C
B
AIN
CT

ROSE CT
MAGGIO
CT

CHALET WOODS CIR
S
C
L
O
V
E
R
AV
E

GREENBRIAR CT

SHARON CT
B
E

A U LIEU CT

LOIS WAY

CERVANTES WAY

S MCGLINCY LN

XAVIER CT
S
G
E
N
E
V
EI V
E
L
N

JEWELL DR

ROJO PL
D
RY
C
REEK
CT
B
E
N
J
A
MIN
AVE

WOODING CT

GILMAN AVE

ALBERT WAY

VIZCAYA WAY

LOMA PARK DR

W SUNNYOAKS AVE

DRESSER CT

ELAM AVE

LEIGH ANN PL

GLEASON AVE

CAMDEN AVE

SPRINGFIELD DR
N 2ND ST
K
O
C
H
E
R
D
R
T
WY
L
A
L
N
VIA
R
O
MA

CAVALIER CT

CHARMAIN DR
S
L
E
GI H
AV
E

NAUTILUS CT

RICKY DR

NERO CT

SURREY PL

N PETER DR

CAPRI DR

DEL ROYCT

KENNEDY AVE

QUANTICO CT

SOMERSWORTH DR

DEL PRADO DR

PICADILLY PL

MANX AVE

BUDD C T
C
U
R
T
N
E
R

GLEN CT
N
O
RIN
C
T

ARDILLA CT
ROME
R
O
S
T

MONETA WAY

FLAMINGO DR

NORSTAD ST

WELLINGTON PL SCHRADER DR SALMAR AVE
R
U
N
N
Y
M
E
D
E
D
R

COLLEEN WAY L
A
V
O
N
N
E
D
R

KAMSON WAY

HUERTO DR

CARAVELLA DR

FIERROLOOP

LORELEI CT

MARATHON DR

VALERIE DR

KEESLING AVE

ALLERTON
LOOP

BUCKNAM AVE

WREN WAY

VIA RANCHERO
M
O
N
T
E
Z
U
M
A
D
R
W
HIT
E
H
A
L
L
AVE

THERESA LN

LOMA PARK CT
CU
L
L
E
N
C
T

HERITAGE
DR

VIA NAPOLI

E HAMILTON AVE

NICHOLAS
DR

MILLBROOK CT

KENPARK CT
NELLO
DR

LAWNDALE AVE
CA
N
A
RY
L
N

DUNCANVILLE CT

SADIE CT

ASSUNTA WAY

WALDO RD

GLADYS WAY

DUNSTER DR
KEN
N
ETH
ST

HOCKING WAY

LAURA DR

ABBEY LN
R
E
D
O
A
K
S
D
R

HARTLEY CT

ST LAWRENCE DR

WOODFLOWER WAY

NADINE DR

ABINANTE LN

CHRISTOPHER AVE

BUDD AVE

MEMPHIS DR
LU
A
N
N
E
D
R

HAZELWOOD AVE

CHARLESTON DR

AINSLEY CT

YUBA AVE

PENWITH AVE

SHULMAN AVE

LINDA DR
N
C
E
N
T
RA
L
AV
E

KIRKMONT DR

BOYNTON AVE

ABBEY CT
N 1ST ST

MANCHESTER AVE

FRONTIER WAY
SYD
N
O
R
D
R

W HAMILTON AVE

BEN HUR CT

NIDO DR

BENT DR

SUNSWEET WAY

BEVERLY CT

S PETER DR

TRAVIATA PL

PEGGY AVE

PAGE ST
LA
C
ON
CT

DOVER WAY

PAULA DR

ST PAUL DR

EVORA DR
S 4TH ST

TUBBY ST

MAYKIRK RD

SUNNYPARK CT

POPLAR AVE

ADLER AVE

BARBANO AVE

DALLAS DR

SUNNYARBORCT

SHADLE AVE
H
O
RAC
E
AVE

CRAIG AVE

RADFORD DR

HUERTO CT

VIOLET WAY

DE TRACEY ST

JOSEPH AVE

HARRIS CT
AMAT
O
AV
E

ERIN WAY

GLENBLAIR WAY

DRY CREEK WAY
SA
LM
A
R
T
E
R

GRANT ST

CAPE COD CT

CALIFORNIA ST

MORELAND WAY

QUEBEC WAY

MORRIS LN

PATRICIA CT

LYLE LN

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JEFFERS WAY

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BRIARWOOD
WAY

GOMES CT

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LOUISE CT

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SHEILA CT

BUDDLAWN WAY

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SUNNYMEAD CT

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D

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SUNNYGATE CT
H
A
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KENNETH AVE

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WHITE OAKS RD

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M
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TOMAS AQUINO PKWY

MARINA WAY

WILTON DR

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WATSON DR

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A
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BRANBURY DR

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COVENTRY DR

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DENVER DR

WEST VALLEY DR
P
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NOTTINGHAM WAY

DOLORES DR

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J
A
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A
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EL MORO DR

KENDRA WAY

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APRICOT AVE

NORMANDY DR

KUEHNIS DR

RICHLEE DR

EMORY AVE

KOBARA LN

JEFFREY AVE

KIRBY WAY

ESTHER AVE

SHADY DALE AVE

EL CAMINITO AVE

LENOR WAY

HARDY AVE

W ROSEMARY LN

FEWTRELL DR

CATALPA LN

LINDAIRE AVE

CAMPBELL TECHNOLOGY
PKWY

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WALDEN SQ
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Miles
0 0.25 0.5

S A N J O S E

L O S G A T O S

S A N J O S E
SB79 STUDY AREA

CITY OF CAMPBELL
No Change from Scenario 1
Within 200 feet 140 du/acre
Within 1/4 mile 100 du/acre
Within 1/2 mile 80 du/acre
Site Removals: Historic
Site Removals: > 1 Mile Walk
City Limits
Sites Decreased (-7623 units)
Decrease to 0 du/acre (200 feet)
Decrease to 0 du/acre (1/4 Mile)
Decrease to 0 du/acre (1/2 Mile)
Scenario 3
Difference: 965 units over capacity
Eliminate Impact to
Non-Residential Properties
Sites Increased (+8588 units)
Increase to 210 du/acre (200 feet)
Increase to 150 du/acre (1/4 Mile)
Increase to 120 du/acre (1/2 Mile)
Item 8.1
Tuesday, March 24, 2026 122 of 474
To: Campbell City Council Date: March 24, 2026
From: Nathan Donato-Weinstein, Economic Development Manager Subject: SB 79 Economic Development Considerations
File No.: PLN-2025-170

BACKGROUND
Senate Bill 79 (SB 79) allowssignificantly higher-density residential development near major transit stops. In Campbell, the station areas defined under the law include several of the City’s major commercial and employment districts.

Because Campbell is relatively small and largely built-out, these areas contain a substantial share of the City’s employment base and revenue-generating commercial land. Changes in the development incentives within these station areas carry implications for the City’s fiscal structure and broader economic ecosystem. This memorandum outlines several of those implications.

DISCUSSION
Sales tax is the City’s second-largest source of General Fund revenue, and Campbell relies heavily on a relatively small group of contributors. More than 70 percent of the City’s local sales tax revenue is generated by its top 100 businesses. The loss or conversion of even a small number of these contributors would substantially diminish the City’s sales tax base. Furthermore, Campbell is also missing certain major sales tax categories, such as new car dealerships, that might otherwise help offset the loss of large retail or industrial generators.

Among the City’s Top 25 sales taxpayers, the locations of Home Depot, Joe Escobar Diamonds, Hayward Lumber and several others fall within the SB 79 station areas. These business locations were not previously identified as housing sites and could be attractive to redevelopment under the law, especially those sites that would support lower-density townhome-style product that pencils in today’s market. Because Campbell is largely built out, the loss or conversion of these properties can be difficult or even impossible to offset elsewhere in the City.

The fiscal impacts of conversion are complex and will differ based on each property and project. New residential redevelopment can increase assessed values, and therefore property tax revenues to the City, initially. Over time, Proposition 13 limits property tax growth, and assessed values may not keep pace with inflation. Residential land uses also typically generate greater demand for City services than employment uses per acre. This is particularly true for lower-density townhome projects that make less-efficient use of land.

Direct revenue to the City is not the only potential impact. Employment also supports economic opportunity for residents and helps sustain Campbell’s daytime economy, including restaurants, services, and small businesses that rely on worker activity. According to Census data, approximately 15,250 jobs are located within the station areas, out of roughly 27,000 jobs citywide. Campbell currently functions as a small net job center, with more workers commuting into the city than leaving

MEMORANDUM
Economic Development Division
Item 8.1
Tuesday, March 24, 2026 123 of 474
Memorandum – March 24, 2026 Page 2 of 2
PLN-2025-170 ~ SB 79 Economic Development Considerations for employment elsewhere. Cities with a strong employment base tend to be more economically resilient than communities that function primarily as bedroom communities.

Some of the properties within the station areas were already eligible for residential conversion under prior state laws such as SB 6 and AB 2011, which allow housing development on commercial sites. But those laws include labor and eligibility requirements that have limited their application in practice. SB 79 includes few constraints, which will make residential redevelopment more feasible for some properties.

Finally, while new mixed-use projects may provide some ground-floor retail space, ground-floor retail space cannot be compelled for projects under SB 79, and these types of mixed-use retail spaces typically function as neighborhood-serving amenities rather than replacements for larger commercial or employment uses.

CONCLUSION
SB 79 presents important economic development considerations for Campbell. Because a substantial share of the City’s employment base and revenue-generating land is located within the station areas, changes in development patterns in those districts will influence the City’s fiscal outlook, employment base, and broader economic ecosystem over time.

Item 8.1
Tuesday, March 24, 2026 124 of 474
City Council Report
DATE: March 24, 2026
TITLE: Public Hearing to consider the adoption of an Interim Ordinance, identifying specific sites for exclusion from Senate Bill 79 (SB 79) applicability, amending Section 21.02.020.E (Conflicting Requirements) of the Campbell Municipal Code to clarify the applicability of State and Federal preemptions to the Zoning Code, including as related to the implementation of Senate Bill 79, amending the Zoning Map to add a reference to Historic Structures of Merit, and authorizing submittal to the California Department of Housing and Community Development (HCD) for statutory review.

RECOMMENDED ACTION:

That the City Council take the following action: Adopt an Interim Ordinance, identifying specific sites for exclusion from Senate Bill 79 (SB 79) applicability, amending Section

21.02.020.E (Conflicting Requirements) of the Campbell Municipal Code to clarify the applicability of State and Federal preemptions to the Zoning Code, including as related to the implementation of Senate Bill 79, amending the Zoning Map to add a reference to Historic Structures of Merit, and authorizing submittal to the California Department of Housing and Community Development (HCD) for statutory review.

EXECUTIVE SUMMARY
Senate Bill 79 (SB 79), Abundant and Affordable Homes Near Transit Act, establishes statewide minimum development standards and densities for qualifying residential projects located near transit-oriented development (TOD) stops beginning July 1, 2026.

While SB 79 significantly limits local discretion, the statute expressly authorizes local governments to exclude certain sites from SB 79 applicability, provided that those removals are adopted by ordinance, supported by specific findings, and submitted to HCD for review in advance of the law’s effective date of July 1, 2026.

SB 79 authorizes two relevant categories for exclusion as follows:
• Walking path exclusions where a site lacks a pedestrian walking path of less than one mile to a qualifying TOD stop, supported by substantial evidence; and • Historic register exclusions for sites designated as historic resources on a local register as of January 1, 2025.

Staff recommends adoption of an Interim Ordinance that identifies qualifying sites for exclusion, makes the findings required by SB 79, and authorizes submittal to HCD for review.

Item 8.2
Tuesday, March 24, 2026 125 of 474

BACKGROUND
Senate Bill 79 (SB 79), effective July 1, 2026, establishes statewide minimum development standards for housing located near qualifying transit stops and significantly expands allowable housing capacity in those areas. In the City of Campbell, SB 79 would apply to nearly 25% of the City’s land area and enable over ten times (10x) the housing capacity anticipated by the City’s adopted Housing Element (reference Attachment 2 – SB 79 Study Area).

The report seeks approval of an Interim Ordinance to remove certain sites from SB 79 eligibility, as authorized by the statute and as previously outlined in the City Council’s previous presentation on SB 79.

DISCUSSION
The following discussion outlines staff’s evaluation of sites determined to qualify for exclusion from applicability under Senate Bill 79 (SB 79), including the implications for sites excluded, the required findings, and the timing and process for HCD review and consideration. The analysis is presented in three sections: the first addresses sites eligible for exclusions, the second explains the related zoning code and map amendments, and the third explains the HCD review process and the possibility that staff may return with refinements to the site exclusions list based on HCD feedback.

Sites Eligible for Exclusion from SB 79
For the City of Campbell, there are two relevant categories to exclude sites otherwise subject to SB 79. These exclusions may be effectuated through an ordinance subject to the review of the State Department of Housing and Community Development (HCD) as follows:

A. Sites Greater than 1 Mile Walking Distance
SB 79[1] authorizes a local government to exclude sites within one-half mile of a TOD stop if the local government makes findings supported by substantial evidence that no walking path of less than one mile exists between the site and the TOD stop. Sites separated by significant physical barriers, such as Highway 17, are examples of locations that may qualify for this exemption.

For any site removal based on pedestrian access, the City must make findings supported by substantial evidence that there exists no walking path of less than one mile from the nearest edge of the parcel to a pedestrian access point for the transit-oriented development stop.

Identification of Sites Eligible for Removal
SB 79 does not define the term “pedestrian access point.” Instead, the statute directs the applicable metropolitan planning organization (MPO), in this case, the Association of Bay Area Governments (ABAG), to prepare maps identifying TOD stops and associated zones by tier, consistent with guidance to be issued by the California Department of Housing and Community Development (HCD). Once finalized, these maps will carry a rebuttable presumption of validity[2] for use by project applicants and local governments.

Item 8.2
Tuesday, March 24, 2026 126 of 474

At this time, both HCD guidance and ABAG’s official mapping are anticipated to be released after SB 79 becomes effective on July 1, 2026. As a result, local agencies must establish a reasonable interim methodology to evaluate pedestrian access and walking distance, with the understanding that locally generated analyses may be superseded once official maps are adopted.

For purposes of identifying sites eligible for removal, staff developed an interim mapping methodology as a two-step process:
• Identification of Pedestrian Access Points: Staff delineated the full physical extent of each pedestrian access point serving the TOD stop, including the entire width of staircases, elevators, or platform entries.
• Measurement of Walking Distances: Staff measured walking distances from the nearest edge of each parcel to the closest pedestrian access point, using a combination of manual path tracing and publicly available “walking directions” from Google Maps to approximate real-world pedestrian routes.

The following figures illustrate two-step process: Figures 1 and 2 show how pedestrian access points were identified, while Figures 3 and 4 depict how walking distances were measured, leading to the identification of sites eligible for removal.

Figures 1 & 2: Pedestrian Access Points Identified at Hamilton Station (Staircases & Elevator)

Item 8.2
Tuesday, March 24, 2026 127 of 474

Figures 3 & 4: Measurement of Walking Distances & Identified Sites for Removal This methodology is intended to provide a defensible evidentiary basis for Council findings while recognizing that the City may need to revisit its determinations once ABAG’s official maps are released.

Figure 5 – Sites Eligible for Walking Path Exclusions (excerpt from Attachment 1) B. Historic Register Sites
SB 79[3] also allows the City to exclude when they contain historic resources designated on a local register prior to January 1, 2025. These exemptions must be adopted by ordinance and are subject to review by the California Department of Housing and Community Development (HCD). The exemptions remain in effect until one year following adoption of the City’s Seventh Cycle Housing Element.

Of the City’s 143 Historic Resource Inventory sites, 123 (86 percent) are located within the SB 79 Study Area. To protect these historic resources and provide the City time to Item 8.2
Tuesday, March 24, 2026 128 of 474

evaluate the potential impacts of SB 79 on their redevelopment, staff recommends excluding all historic sites, including those outside the ½-mile Study Area, to avoid the need to revisit the list of excluded properties once ABAG’s official maps are released.

Figure 6 – Sites Eligible for Historic Register Exclusions (excerpt from Attachment 1)

3. Zoning Code & Map Amendments
The City is proposing both zoning code and map amendments to locally implement Senate Bill 79 (SB 79), ensuring clarity regarding the relationship between local regulations and state law, and documenting historic properties on the Zoning Map. The proposed amendments include the following:

A. Zoning Code Amendment. The Zoning Code amendment clarifies that when a conflict exists between the Zoning Code and applicable state or federal law, including SB 79, state or federal law prevails. The Community Development Director is authorized to issue an interpretation identifying such conflicts and describing how they will be addressed until the Code is formally amended. The amendment also authorizes the Director to maintain on file a list of properties affected by applicable state or federal law, including those temporarily or permanently excluded from SB 79 pursuant to local ordinance. This administrative mechanism allows the City to document such exclusions without embedding a static list in the Zoning Code.

B. Zoning Map Amendment. While the City’s Historic Districts and Landmark properties are already depicted and referenced on the Zoning Map, Structures of Merit are not. To exclude these properties from SB 79, the Zoning Map must indicate which sites are or are not covered by Section 65912.157. As the Ordinance will exclude all Historic Sites, staff proposes adding a footnote Item 8.2
Tuesday, March 24, 2026 129 of 474

referencing Structures of Merit as established by Chapter 21.33 (Historic Preservation), so that additional properties referenced for temporary exclusion under SB 79 are included by reference on the Zoning Map.

4. HCD Review Process
Under SB 79, when a local government proposes to exclude sites, either permanently or temporarily, from applicability under the law, the proposed exclusions must be submitted to the California Department of Housing and Community Development (HCD) for review.

HCD’s role is to evaluate whether the submitted site exclusions comply with the requirements of SB 79.

The statute provides HCD with 90 days to review a submitted ordinance and determine whether the exclusions are consistent with the law. During this period, HCD may raise objections or request revisions. If HCD does not raise any objections or request revisions within the 90-day window, the exclusions are deemed effective.

If the City Council adopts the Ordinance as recommended, HCD would have until approximately June 2, 2026, to respond. This timeline provides sufficient opportunity for staff to return to the City Council in June to consider any amendments or refinements necessary to address HCD comments, prior to the law taking effect on July 1, 2026.

PROCEDURAL REQUIREMENTS
California Government Code Section 65858 allows local jurisdictions to adopt an Interim Ordinance to approve urgency measures as needed to provide sufficient time to address pressing land use matters. Consistent with the Government Code, Campbell Municipal Code Section 21.60.090 (Interim Ordinance) also provides that "the City Council may take appropriate action to adopt an urgency measure, as an interim ordinance, in compliance with State law…"
Adoption of an Interim Ordinance requires a supermajority of the City Council (four-fifths vote) and is effective for no more than 45 days. The City Council may further extend the interim ordinance for 10 months and 15 days after a noticed public hearing and may subsequently extend the urgency ordinance for up to two years. Ten days prior to the expiration of the ordinance, the City Council must issue a written report describing the measures taken to alleviate the conditions which led to the adoption of the ordinance.

Government Code section 65858(a) provides that the City Council may, after notice pursuant to Government Code section 65090 and a public hearing, subsequently extend an interim ordinance for an additional one year beyond expiration of the first extension.

Staff anticipate that the Interim Ordinance will need to be extended at least once prior to the 45-day expiration to allow sufficient time to prepare and adopt a formal ordinance through the normal hearing procedures.

ENVIRONMENTAL DETERMINATION
The California Environmental Quality Act (CEQA) requires agencies to identify the potential environmental effects of “projects”. While adoption of the proposed Interim Ordinance is considered a "project" under Section 15378(a)(1) of the California Environmental Quality Act (CEQA), it may be found exempt from environmental review Item 8.2
Tuesday, March 24, 2026 130 of 474

under Section 15061(b)(3) because it does not create environmental impacts and merely preserves the status quo. The Interim Ordinance may also be found categorically exempt under Section 15308 of the California Environmental Quality Act because it is a temporary regulatory action taken by the City pursuant to its police power and in accordance with Government Code Section 65858 in the interest of evaluating and preventing potential environmental harms related to implementation of SB 79.

PUBLIC OUTREACH
Notice of the City Council hearing was provided in accordance with state law. The ordinances implement state law and do not involve project-specific development approvals.

FISCAL IMPACTS
There is no direct fiscal impact associated with adoption of the proposed ordinance. Any administrative costs associated with ordinance adoption and HCD coordination would be absorbed within existing departmental resources.

ALTERNATIVES

1. Take no action.

2. Continue the item, directing staff to return with additional analysis to support the list of sites to be temporarily or permanently removed from applicability by SB 79.

3. Continue the item, directing staff to await publication of official SB 79 maps by the metropolitan planning organization.
[1] In accordance with Government Code Section 65912.160(e)(1). [2] The maps will be presumed to be legally valid unless and until proved otherwise. [3] In accordance with Government Code Section 65912.161(b)(1)(F).

PREPARED BY: Stephen Rose, Senior Planner
Item 8.2
Tuesday, March 24, 2026 131 of 474

Report Approval Details
Document Title: SB 79 Site Removals v2.docx
Attachments: Attachment 1 - CC Ordinance ~ SB 79 Site Removals.docx Attachment 2 - SB 79 Study Area.pdf
Final Approval Date: March 18, 2026
This document and all of its attachments were approved and signed as outlined below:

Item 8.2
Tuesday, March 24, 2026 132 of 474
ORDINANCE NO.

BEING AN INTERIM ORDINANCE OF THE CITY COUNCIL OF THE

CITY OF CAMPBELL IDENTIFYING SPECIFIC SITES FOR
EXCLUSION FROM SENATE BILL 79 APPLICABILITY, AMENDING
SECTION 21.02.020.E. (CONFLICTING REQUIREMENTS) OF THE

CAMPBELL MUNICIPAL CODE TO CLARIFY THE APPLICABILITY

OF STATE AND FEDERAL PREEMPTIONS TO THE ZONING CODE,

INCLUDING AS RELATED TO THE IMPLEMENTATION OF SENATE
BILL 79, AMENDING THE ZONING MAP TO ADD A REFERENCE TO

HISTORIC STRUCTURES OF MERIT, AND AUTHORIZING

SUBMITTAL TO THE CALIFORNIA DEPARTMENT OF HOUSING
AND COMMUNITY DEVELOPMENT FOR STATUTORY REVIEW.

FILE NO. PLN-2025-170
WHEREAS, after notification and public hearing, as specified by law and after presentation by the Community Development Director, proponents and opponents, the hearing was closed.

WHEREAS, pursuant to Section 65858 of the Government Code and Section 21.60.090 of the Campbell Municipal Code, the City Council may take appropriate action to adopt urgency measures as an Interim Ordinance (hereinafter “Ordinance”).

WHEREAS, the legislature of the State of California has, in Article XI, Section 7 of the California Constitution and Government Code Sections 65302 and 65800, conferred upon local governments the authority to adopt regulations designed to promote the public health, safety and general welfare of its citizenry.

WHEREAS, Senate Bill 79 (SB 79), the Abundant and Affordable Homes Near Transit Act, of 2025 and codified in Government Code Chapter 4.1.5 (commencing with Gov. Code Section 65912.155), operative July 1, 2026, establishes statewide minimum residential density and development standards for properties located within one-half mile of qualifying transitoriented development (TOD) stops.

WHEREAS, SB 79 establishes substantial increases in allowable residential density and building height within large portions of the City, including areas not previously planned or evaluated for such development intensity.

WHEREAS, SB 79 authorizes local jurisdictions to exclude certain sites from SB 79 applicability through adoption of a local ordinance, subject to review and approval by the California Department of Housing and Community Development (HCD), prior to the statute’s effective date of July 1, 2026.

WHEREAS, SB 79 permits exclusion of sites within one-half mile of a qualifying transit stop where the site lacks a pedestrian walking path of less than one mile to the transit stop, pursuant to Government Code § 65912.160(e)(1), provided the determination is supported by substantial evidence.

WHEREAS, SB 79 also permits exclusion of sites designated on a local historic register as of January 1, 2025, pursuant to Government Code § 65912.161(b)(1)(F), until one year following the adoption of the seventh-cycle housing element.

Item 8.2
Tuesday, March 24, 2026 133 of 474
City Council Ordinance No.

PLN-2025-170 – SB 79 Site Exclusions

Page 2 of 6 ends

Campbell City CouncilMarch 24, 2026

Campbell City Council
March 24, 2026