Agenda packet — Concord City Council, June 10, 2025 (part 7 of 7)

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Despite these efforts there has not been much success. The Brenden-Mann Foundation has stated they will contribute $1000 per month to the cost of the security officer if they see other contributors either private and/or public. A few other businesses like Luna and Hop Grenade said they could contribute a from $100-$300 per month as well. There have been 3-5 additional businesses that stated they could as well, but have not yet confirmed.

Amount of public funding requested from the City
TSBA feels it is essential to keep the downtown security officer service. We are requesting a monthly contribution of $11,906 ($142,872 annually and $285,744 over 24 months) to be paired with the $1000 per month from the Brenden-Mann Foundation.

TSBA Board believes that keeping and funding the remaining two programs, the Day -Poter and Pressure Washing, would be a continued direct benefit for the downtown as it has been the past 2 years, but we fully realize the tough economic times and budget pressures that exist today. For now, the TSBA Board strongly requests the funding only for the security officer.

Thank you,

WEichinger

Walter Eichinger
President
TSBA
[email protected]
925-655-8414

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Staff Report
Date: January 28, 2025
To: City Council
From: Valerie J. Barone, City Manager
Subject: Considering approval of an agreement with Contra Costa County Health Services to provide a three-member team
working fulltime in Concord to provide Coordinated Outreach Referral and Engagement (CORE) services for three years within the City of Concord in a not-to-exceed amount of $1,277,706 ($397,594 for FY2023-24, $427,912 for FY2024-25, and $452,200 for FY2025-26), and authorizing the City Manager to execute the Agreement in a form acceptable to the City Attorney (Measure V and PLHA Grant Funding)
CEQA: Not a project/exempt pursuant to Public Resources Code Section 21065, CEQA Guidelines Section 15060(c)(2), 15061(b)(3), 15273, and/or 15378.

Report in Brief
The City has been contracting with the County to provide Coordinated Outreach Referral and Engagement (CORE) services in Concord since 2017. Initially, the City partnered with Walnut Creek and funded the half time services of a two-member CORE team in each of those communities. In January of 2021, the City of Concord transitioned to a full time two-member team working solely in Concord. In November of 2021, the City added a third member to the CORE team, a Care Coordinator, to provide case management to unsheltered clients, in addition to the work of the CORE outreach team members. CORE is a County program that works to locate, engage, stabilize, and house individuals that are unsheltered. CORE acts as the entry point into County services and housing.

Recommended Action
Approve an agreement with Contra Costa County Health Services to provide a three- member team working full time in Concord to provide Coordinated Outreach Referral and Engagement (CORE) services for three years within the City of Concord in a not-to- Attachment 7

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City Council Agenda Report
Agenda Item No. 4.a
January 28, 2025
exceed contract amount of $1,277,706 ($397,594 for FY2023-24, $427,912 for FY2024- 25, and $452,200 for FY2025-26), and authorize the City Manager to execute the Agreement in a form acceptable to the City Attorney.

Background
CORE was established by the County to engage and stabilize homeless individuals living outside through consistent outreach to facilitate and/or deliver health and basic services and secure housing. CORE teams act as an entry point into the Contra Costa County Coordinated Entry System for unsheltered persons and families. CORE teams do not provide a crisis response. If in crisis, 911 should be called. Anyone can call 211 to notify CORE of an unsheltered individual who could benefit from CORE services.

Because CORE at a county-wide level operates with a limited budget, the City of Concord has been funding extra and directed to Concord CORE services since 2017.

In 2017 the City of Concord partnered with the neighboring City of Walnut Creek and funded one full-time, two-member, CORE team to work half-time in each of our communities. After Concord’s Community Conversation on Homelessness and Mental Health, which occurred on August 12, 2020, the Council began discussing increasing the City’s use of a CORE team from half-time to full-time and in January 2021, did so.

The CORE program is funded from Measure V revenue, which is consistent with how Measure V was described to voters when it was on the ballot. In November of 2021, the Council approved adding a third member to the Concord CORE team to provide social work services and case management support to Concord’s unsheltered population and began paying for this third member through its Permanent Local Housing Allocation (PLHA) grant.

The City has been operating with a three-member, fulltime CORE team ever since. The CORE team working in Concord has the following stats for the last full year of service and this year’s partial year of service. (See Attachment 2 for more detail) • July 1, 2023 - June 30 2024: The team engaged in 3,338 contacts, of which 843 were unduplicated. Ninety-four (94) individuals were transitioned from the streets to shelter. Fifty-three (53) individuals were transitioned from the streets into permanent housing. The Concord Care Coordinator position worked with 475 individuals.
• July 1, 2024 - November 30, 2024: The team engaged in 1,028 contacts, of which 366 were unduplicated. Twenty-five (25) individuals were transitioned from the streets into shelter. Twenty-eight (28) individuals were transitioned from the streets into permanent housing. The Concord Care Coordinator worked with 283 individuals.

CORE is not the City’s only support to the unsheltered population. The City funds other programs annually through CDBG grants and operates a Rapid Rehousing Program through a PLHA grant and is investing one-time funding of $5 million into other supports

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City Council Agenda Report
Agenda Item No. 4.a
January 28, 2025
for the homeless population, as an outcome to its work on its Homeless Strategic Plan. (See Attachment 3 and 4 for more detail). This includes funding by the City of $25,500 annually ($12,500 in Community Development Block Grant (CDBG) funds and $13,000 in Concord/Pleasant Hill Health Care District funds) to support the Countywide CORE Evening team, which also provides services in Concord during the hours the Concord dedicated team is not working.

Analysis
Within Contra Costa County generally and Concord specifically, the unsheltered population receives services and support from the County and other non-profit service providers. The City of Concord does not provide social services directly. The County’s system relies on CORE employees to move people into services and housing.

Consequently, as a means of supporting the unsheltered population to access services, the City funds the CORE program. The CORE team is in regular communication with both the City’s Community Services and Housing staff and the City’s Community Impact Unit in our Police Department.

The City failed to enter a timely contract extension with the County for last fiscal year— and the County continued to provide the services in good faith. Consequently, this staff report presents a three-year contract to Council for approval, which will cover last fiscal year, this fiscal year and next fiscal year.

Environmental Determination
This activity does not constitute a “project” and/or is exempt from environmental review pursuant to Public Resources Code Section 21065, California Environmental Quality Act (CEQA) Guidelines Sections 15060(c)(2), and/or 15378 because there is no potential that it will result in a direct or reasonably foreseeable indirect physical change in the environment, and/or 15273 because it involves government funding/fiscal activities.

Even if the activity does comprise a project for CEQA analysis, it falls within the “common sense” CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3), excluding projects where “it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment.” No unusual circumstances exist and none of the exceptions under CEQA Guidelines Section 15300.2 apply. Individual projects will undergo CEQA analysis as necessary.

Financial Impact
The agreement establishes a not-to-exceed contract amount of $1,277,706 ($397,594 for FY2023-24, $427,912 for FY2024-25, and $452,200 for FY2025-26). Funds for last fiscal year and this fiscal year are available within the approved budget from a combination of Measure V funding and funding from the City’s PLHA grant. Funds for next fiscal year have not yet been budgeted but will be budgeted in next year’s operating budget. Specifically, the contract will be funded as shown in the table below.

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City Council Agenda Report
Agenda Item No. 4.a
January 28, 2025
Measure V Funding PLHA Grant
Funding
Total Funding
Fiscal Year 2023-24 $275,594 $122,000 $ 397,594
Fiscal Year 2024-25 $297,912 $130,000 $ 427,912
Fiscal Year 2025-26 $352,200 $100,000 $ 452,200
TOTAL FUNDING $925,706 $352,000 $1,277,706
If Council does not approve funds in next year’s budget for Fiscal Year 2025-26 to support this agreement, the County would cease to provide CORE services to Concord.

Measure V is an appropriate funding source to support the CORE program as support to the unsheltered was one of the services shared with voters when the Measure was on the ballot. The PLHA grant has included financial support of the Care Coordinator position since we added the position to our contract with the County and it remains eligible for funding under the program.

Public Contact
The City Council Agenda was posted. County Health was sent a copy of the report and will be present at the January 28 City Council meeting.

Attachments

1. Agreement with Contra Costa Health Services

2. City of Concord CORE Report from Contra Costa Health

3. Concord Homeless Outreach Fact Sheet

4. Table on Concord’s One-Time Funding to Implement the Homeless Strategic Plan

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City of Concord
June 10, 2025
TO: Honorable Mayor and Councilmembers
FROM: Citizen Measure V Oversight Committee – Michelle Lane, Chair; Brandy Leidgen, Vice Chair; Gregory Grassi; Brian Beckon; and Janielyn Bayona
SUBJECT: Measure V Oversight Committee’s Review of the FY 2023-24 Annual Comprehensive Financial Report and Evaluation and Report on the City’s Use of Measure V Revenues in the Proposed Biennial Operating Budget for FYs 2025-26 and 2026-27
The Measure V Oversight Committee (Committee) convened on March 10, 2025, to review the Fiscal Year (FY) 2023-24 Annual Comprehensive Financial Report (ACFR), which includes the annual audit. During the same meeting, the Committee also received an overview of City Council-approved allocation of Measure V one-time residual funds, as outlined in the Mid-Year Operating Budget update presented to City Council on February 11, 2025. The Committee reconvened on May 5, 2025, to receive a mid-cycle update on the use of Measure V revenues in the Capital Improvement Program budget.

During the May 5, 2025 meeting, the Committee received a presentation on the City’s preliminary Proposed Biennial Operating Budget for FYs 2025-26 and 2026-27 and updated long-range financial forecast. The purpose of this meeting was to obtain an understanding of the preliminary budget in order to advise the City Council as to whether Measure V revenues are proposed to be spent in a manner that protects the City’s essential services.

The Committee has made the following findings with regard to its charge in oversight of the tax:

1. Has the Committee reviewed the FY 2023-24 Annual Audit and confirmed the Measure V tax was collected and spent in accordance with expectations established in the Measure V ballot language?
On March 10, 2025, the Committee reviewed the FY 2023-24 Annual Comprehensive Financial Report and determined that the presentation of the Measure V Transactions and Use Tax in the financial statements (pages xvii, 9, 13, 26, 27, 32, 34, and 121) reflect the collection of the tax appropriately.

Attachment 8

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Measure V Committee’s Finding Memo
June 10, 2025

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The Committee finds that usage of Measure V tax revenues ($35.1 million) was identified clearly in the annual audit. Further, the Committee finds that $34.2 million of Measure V revenue went to maintain General Fund operations for City services, which allowed the City to avoid cuts to essential City Services and infrastructure maintenance, and the remaining $0.9 million was used consistent with the City’s Fiscal Sustainability Ordinance to support reserves and infrastructure investment.

2. Does the City’s proposed Measure V biennial budget for FYs 2025-26 and 2026-27 protect the City’s essential services?
The FY 2025-26 budget estimates Measure V revenue at $33.5 million, with $15.4 million allocated for essential City services and $1.8 million to support City Council directed community programs. For FY 2026-27, Measure V revenue is estimated at $34.5 million, with $15.8 million allocated for essential City services and $1.9 million to support Council directed community programs.

Additionally, $16.3 million in FY 2025-26 and $16.9 million in FY 2026-27 will fund infrastructure investments, including maintenance of roads, buildings, and parks.

In FY 2025-26, one-time Measure V funds totaling $3.4 million will be used as follows: $2.1 million towards the start-up costs for the new Public Works Street Patch Crew; $200,000 towards the purchase of new Public Works asset management software to replace the current end-of-life work order system; and $1.1 million to support building maintenance and rehabilitation projects.

Consequently, the Committee finds that the use of Measure V revenue in the operating budget for FYs 2025-26 and 2026-27 protects the City’s essential services.

Committee Summary and Recommendations
Measure V has proven to be a vital revenue source allowing the City to protect essential services, address critical infrastructure backlogs, and focus efforts toward areas of community priority.

The Committee encourages City Council to continue analyzing spending priorities to ensure they meet the most pressing needs and concerns of all Concord residents.

The committee has concerns over an economic downturn happening in the near- term and recommends City Council maintain a balance of social services and infrastructure.

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CITY OF CONCORD

POLICY & PROCEDURE
Number:

Authority:

Effective:

Revised:

Reviewed:

Initiating Dept.:
184
Council Motion
6-10-25
FI

INVESTMENT POLICY

1. PURPOSE
To establish the policy for this investment policy is to provide guidelines for the investment of public funds in a manner that ensures the safety of principal, provides adequate liquidity to meet operating requirements, and achieves a reasonable return. The policy also aims to promote transparency, accountability, and compliance with all applicable state and local laws and regulations.

2. POLICY
It is the policy of the City of Concord (“City”) to invest public funds in a manner which provides for safety of principal while providing sufficient liquidity to cover the City’s short- and long-term needs.

All investment activity will conform to the California Government Code, Sections 53600 through 53686. This policy is written to incorporate industry best practices and recommendations from sources such as the Government Finance Officers Association (GFOA), California Municipal Treasurers Association (CMTA), California Debt and Investment Advisory Commission (CDIAC) and the Association of Public Treasurers (APT).

The Treasurer will annually render to the City Council a statement of investment policy.

3. SCOPE
This investment policy applies to all financial assets of the City as accounted for in the City of Concord’s Annual Comprehensive Financial Report. Policy statements included in this document focus on the City’s pooled funds but will also apply to all other funds under the Treasurer’s control unless specifically exempted by statute or ordinance. This policy includes, but is not limited to, the following funds:
a. General Fund
b. Agency Fund
c. Enterprise Funds
d. Capital Project Funds
e. Debt Service Funds
f. Internal Service Funds
g. Special Revenue Funds
h. Any new funds created by the City Council
This policy specifically exempts any bond proceed funds in the possession of a trustee or fiscal agent.

These bond proceeds shall be invested in accordance with the requirements and restrictions outlined in the bond documents. Also exempt are pension or other post-employment benefit funds held in a trust.

Except for cash in certain restricted and special funds, the City will consolidate cash and reserve balances from all funds to maximize investment earnings and to increase efficiencies with regard to investment pricing, safekeeping and administration. Investment income will be allocated to the various funds based on their respective participation and in accordance with generally accepted accounting principles.

Attachment 9

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4. PRUDENCE
All persons authorized to make investment decisions for the City of Concord are trustees and therefore fiduciaries subject to the prudent investor standard.

The standard of prudence to be used by City of Concord fiduciaries is the “Prudent Investor” Standard found in the California Government Code, Section 53600.3 and shall be applied in the context of managing the overall portfolio, and is defined as:

Prudent Investment Standard: Acting with care, skill, prudence and diligence under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the professional management of their business affairs, not for speculation, but for investment considering the probable safety of their capital as well as the probable income to be derived.

The Treasurer and other investment employees, acting within the intent and scope of the Investment Policy and other written procedures, and exercising due diligence, shall be relieved of personal responsibility for an individual security’s credit risk or market price changes, provided deviations from expectations are reported in a timely manner and appropriate action is taken to control adverse developments.

5. OBJECTIVE
The objective of the investment portfolio is to meet the City’s short- and long-term cash flow needs.

To achieve this objective, the portfolio will be structured to provide, in priority order, safety of principal, liquidity and return on investment.

5.1 Preservation of Capital (Safety)
Safety of principal is the foremost objective of the City of Concord. All investments of the City shall be undertaken in a manner that ensures the preservation of capital in the overall portfolio. Each investment transaction shall seek to ensure that capital losses are avoided, whether from issuer or broker/dealer default. The City shall seek to preserve principal by mitigating the two types of risk: Credit risk and market risk.

5.1.1 Credit Risk
Credit risk is the risk of loss due to failure of the issuer to repay an obligation and shall be mitigated by investing in high quality credits, actively monitoring investments, and by diversifying the investment portfolio so that the failure of any one issuer would not unduly harm the City’s cash flow.

5.1.2 Market Risk
Market risk is the risk of market value fluctuations due to overall changes in the general level of interest rates and shall be mitigated by providing adequate liquidity for short-term cash needs, and by making longer-term investments only with funds that are not needed for current cash flow purposes. Limiting the effective duration of the portfolio. The effective duration of the total dollar value of funds invested in accord with this Investment Policy shall not exceed

3.5 years.

The City further recognizes that certain types of securities, including variable rate securities, securities with principal paydowns prior to maturity, and securities with embedded options, will affect the market risk profile of the portfolio differently in different interest rate environments. The City, therefore, adopts the following strategies to control and mitigate its exposure to market risk:
• The City will maintain a minimum of six months of budgeted operating expenditures in short-term investments to provide sufficient liquidity for expected disbursements.Page 54 of 100 • The maximum stated final maturity of individual securities in the portfolio will be five (5) years from the date of trade settlement, except as otherwise stated in this policy.

5.2 Liquidity
The City’s investment portfolio will be structured to provide sufficient liquidity to meet the operating requirements of the City of Concord.

5.3 Return on Investment
State law requires that the objective of return on investment be subordinate to the objectives of safety and liquidity. Therefore, investment employees shall seek to achieve a return on the funds under their control throughout all economic cycles, taking into consideration the City of Concord’s investment risk constraints and cash flow requirements. In evaluating the performance of the City’s portfolio in complying with this Policy, it is expected that the City shall establish an appropriate performance benchmark and compare the total return of its portfolio to the total return of the benchmark.

6. DELEGATION OF AUTHORITY
Pursuant to California Government Code Section 53601 of the California Government code, the City Council as the legislative body of the City of Concord has primary responsibility for the investment of surplus monies or monies held in sinking funds, in the City treasury. As authorized under California Government Code Section 53607 of the California Government Code, the City Council hereby delegates its authority to invest or reinvest the funds of the City, and to sell or exchange securities so purchased, to the City Treasurer who shall assume full responsibility for all such transactions until such time as this delegation of authority may be revoked by the City Council.

Within the Finance Department, the responsibility of day-to-day treasury activities and investment of City funds is delegated by the City Treasurer to the Director of Finance. The Director of Finance may then delegate the authority to conduct investment transactions and to manage the operation of the investment portfolio to other specifically authorized staff members. The City Treasurer shall establish investment policy guidelines in writing within which the Director of Finance or designee shall operate day-to-day investment activities. Delegation of Authority will not remove or abridge the Treasurer’s investment responsibility.

The Treasurer may also delegate investment decision making and execution authority to an investment advisor, who is registered under the Investment Advisers Act of 1940, to assist in the management of the City’s investment portfolio in a manner consistent with the City’s objectives. The advisor shall follow the Investment Policy and such other written instructions as are provided.

7. ETHICS AND CONFLICT OF INTEREST
In accordance with California Government Code, Sections 1090 et seq. and 87100 et seq., and the City of Concord’s Conflict of Interest Code, public officials of the City will refrain from any activity that could conflict with the proper execution of the investment program, or which could impair their ability to make impartial investment decisions. In addition, these same employees are prohibited from undertaking personal investment transactions with any individual with whom City business is conducted.

Employees and investment officials shall annually submit a Statement of Economic Interest, also known as the Form 700. The Form 700 provides necessary information to the public about an official’s personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances. Additional guidance on disclosing potential conflicts of interest is available on the California Fair Political Practices Commission website.

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8. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
The City of Concord shall transact business only with commercial banks, savings and loans, and investment securities dealers. The dealers must be primary dealers regularly reporting to the Federal Reserve Bank of New York or regional dealers that qualify under the Securities and Exchange Commission Rule 15C3-1 (uniform net capital rule). Selection of financial institutions and broker/dealers authorized to do business with the City shall be at the sole discretion of the City Treasurer. The Treasurer will maintain a list of financial institutions authorized to transact with the City.

All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply the Treasurer with audited financial statements from the three most recent years, at least three references from other California Local agencies, a completed Broker/dealer questionnaire and a statement certifying that the institution has reviewed the California Government Code, Section 53600 et seq. and the City’s Investment Policy. The Treasurer shall determine if the Financial Institutions are adequately capitalized, make markets in securities appropriate to the City’s needs and are recommended by other local agency portfolio managers.

The Treasurer will conduct an annual review of the financial condition of all qualified institutions.

Additionally, their current financial statements are required to be on file.

If the City has an investment advisor, the investment advisor may use its own list of authorized broker/dealers to conduct transactions on behalf of the City. The advisor shall make available its list of authorized broker/dealers to City staff upon request.

9. AUTHORIZED INVESTMENTS
The City is authorized by California Government Code Section 53600 et seq. to invest in the types of securities listed below. Within the investments permitted by the Code, the City seeks to further restrict eligible investments to the guidelines listed below. In the event a discrepancy is found between this policy and Code, the more restrictive parameters will take precedence. Percentage holding limits and minimum credit requirements listed in this section apply at the time the security is purchased.

Where this section specifies a percentage limitation for a particular security type, that percentage is applicable only on the date of purchase. Credit criteria listed in this section refers to the credit rating at the time the security is purchased. If an investment’s credit rating falls below the minimum rating required at the time of purchase, the Treasurer will perform a timely review and decide whether to sell or hold the investment. A security purchased in accordance with this Policy shall not have a forward settlement date exceeding 45 days from the time of investment. At the time of the investment’s maturity or liquidation, such funds shall be reinvested only as provided in the current policy.

An appropriate risk level shall be maintained by primarily purchasing securities that are of high quality, liquid, and marketable. The portfolio shall be diversified by security type and issuer to avoid incurring unreasonable and avoidable risks regarding specific security types or individual issuers.

9.1 United States Treasury Bills, Bonds, and Notes
United States Treasury Bills, Bonds, and Notes, or those for which the full faith and credit of the United States are pledged for the payment of principal and interest.

There is no limitation as to the percentage of the portfolio that can be invested in this category.

There is a five-year maximum term.

9.2 Federal Agency or United States Government-Sponsored Enterprise (GSE) Obligations Federal Agency or Unted States GSE Obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies Page 56 of 100 or United States government-sponsored enterprises. Federal agency securitized securities (including but not limited to mortgage-backed securities, collateralized mortgage obligations, and commercial mortgage-backed securities) are not permitted. All other investments in Federal Agency securities are unrestricted. Purchases in this category may not exceed 30 percent per issuer of the market value of the portfolio with no more than 20 percent invested in callable agency securities.

9.3 Obligations of the State of California or any Local Agency within the State Obligations of the State of California or any local agency within the state, including bonds payable solely out of revenues from a revenue producing property owned, controlled or operated by the state or any local agency, or by a department, board, agency or authority of the state or any local agency. These securities shall be rated in a ratings category of “A” or its equivalent or better by a nationally recognized statistical-rating organization (“NRSRO”).

Purchases in this category, together with those allowed by 8.4, may not exceed 30% of the cost market value of the portfolio.

9.4 Registered Treasury Notes or Bonds of any of the other 49 States in Addition to California
Registered Treasury Notes or Bonds of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state, or by a department, board, agency, or authority of any of these states. These securities shall be rated in a ratings category of “A” or its equivalent or better by a nationally recognized statistical rating organization (“NRSRO”). Purchases in this category, together with those allowed by 9.3, may not exceed 40% of the cost market value of the portfolio.

9.5 Bankers’ Acceptances
Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as Bankers’ Acceptances, with a ratings category of “A” or A1/P1 as applicable, or its equivalent or better by a nationally recognized statistical rating organization (“NRSRO”).

Purchases in this category may not exceed 180 days to maturity or 340% of the cost market value of the portfolio.

9.6 Commercial Paper
Commercial Paper of prime quality of the highest ranking or of the highest letter and number rating as provided for by a nationally recognized statistical rating organization (“NRSRO”).

The entity that issues the commercial paper shall meet all of the following conditions ieither paragraph a or paragraph b below:
a. The entity meets the following criteria: (i) is organized and operating in the United States as a general corporation, (ii) has total assets in excess of five hundred million dollars ($500,000,000), and (iii) has debt other than commercial paper, if any, which is rated in a ratings category of at least “A”, or its equivalent or better by a NRSRO. b. The entity meets the following criteria: (i) is organized within the United States as a special purpose corporation, trust, or limited liability company, (ii) has program-wide credit enhancements including, but not limited to, over collateralization, letters of credit, or surety bond, and (iii) has commercial paper that is rated “A-1” or higher, or the equivalent, by a NRSRO.

Purchases of eligible commercial paper may not exceed 270 days to maturity. Purchases of commercial paper may not exceed 25 percent of the cost market value of the portfolio with no more than 10 percent of the outstanding commercial paper of any single issuer. Under a

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provision sunsetting on January 1, 2026, no more than 40% of the market value of the portfolio may be invested in Commercial Paper if the City’s investment assets under management are greater than $100,000,000.

9.7 Negotiable Certificates of deposit (NCD)
NCD issued by a nationally or state-chartered bank, a savings association or a federal association (as defined by Section 5102 of the Financial Code), a state or federal credit union, or by a federally- or state-licensed branch of a foreign bank. The amount of the NCD insured up to the FDIC limit does not require any credit ratings. Any amount above the FDIC insured limit These securities shall be rated in a ratings category of “A” or its equivalent or better by a NRSRO for long-term debt obligations and “A-1” or its equivalent or better by a NRSRO for short-term debt obligations . Purchases of Negotiable Certificates of Deposit shall not exceed 30 percent of the cost market value of the portfolio nor exceed a five-year term.

9.8 Medium-Term Notes (MTNs)
MTNs issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States. MTNs eligible for investment in this category must rate in a ratings category of “A” or its equivalent or better by a NRSRO. Investments in this category may not exceed 30 percent of the cost market value of the portfolio.

9.9 MONEY MARKET MUTUAL FUNDS
Shares of beneficial interest issued by diversified management companies that are Money Market Mutual Funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940. These funds must either have attained the highest rating/ranking by at least two of the three largest NRSROs or have retained an investment advisor registered with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000).

Investments in this category will not exceed 20 percent of the market value of the portfolio and there is no final maturity.

9.10 Local Agency Investment Fund (LAIF)
State Pool –LAIF. This fund was established by the State Treasurer for the benefit of Local agencies under California Government Code Section 16429.1. The City may invest in the LAIF up to the maximum amount permitted by State law.

9.11 Time Certificates of Deposit
Time Certificates of Deposit in a state or national bank, savings association or federal association, or federal or state credit union with a branch in the State of California. In accordance with California Government Code, Section 53635.2, to be eligible to receive City deposits a financial institution shall have received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of its record of meeting the credit needs of California’s communities. Time CDs are required to be collateralized as specified under Government Code, Section 53630 et seq. The City, at its discretion, may waive the collateralization requirements for any portion that is covered by federal deposit insurance. The City shall have a signed agreement with any depository accepting City funds per Government Code, Section 53649. No deposits shall be made at any time in time CDs issued by a state or federal credit union if a member of City Council or the Director of Finance serves on the board of directors or any committee appointed by the board of directors of the credit union. In accordance with Government Code, Section

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53638, any deposit shall not exceed that total shareholder’s equity of any depository bank, nor shall the deposit exceed the total net worth of any institution. Purchases in a single institution will not exceed 120 percent of the cost market value of the portfolio.

9.12 Supranationals
Supranationals, defined as United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank, and eligible for purchase and sale within the United States. These securities shall be rated in a ratings category of “AA” or its equivalent or better by a NRSRO. Purchases of supranationals shall not exceed 30 percent of the cost value of the portfolio nor exceed a five year term no more than 10 percent in any single issuer.

9.13 Shares of Beneficial Interest
Shares of beneficial interest issued by joint powers authority organized pursuant to Section 6509.7 that invests in the securities and obligations authorized in subdivisions (a) to (qr), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. To be eligible under this section, the joint powers authority issuing the shares shall have retained an investment adviser that meets all of the following criteria:
(1) The adviser is registered or exempt from registration with the Securities and Exchange Commission.
(2) The adviser has not less than five years of experience investing in the securities and obligations authorized in subdivisions (a) to (qr), inclusive. (3) The adviser has assets under management in excess of five hundred million dollars ($500,000,000).

9.14 Prohibited Investments
Investments not described herein are ineligible investments including, but not limited to, futures and options. The City shall not invest any funds in inverse floaters, range notes, or interest only strips that are derived from a pool of mortgages in accordance with California Government Code Section 53601.6. In addition, the City shall not invest any funds in any security that could result in zero interest accrual if held to maturity. Under a provision sunsetting on January 1, 2026, securities backed by the U.S. Government that could result in a zero- or negative-interest accrual if held to maturity are permitted.

Notwithstanding the prohibition in the preceding paragraph, the City may invest in securities issued by, or backed by, the United States government that could result in zero- or negative- interest accrual if held to maturity, in the event of, and for the duration of, a period of negative market interest rates. The City may hold these instruments until their maturity dates. Purchase of this investment type shall be allowed only until January 1, 2026, and as of that date is repealed.

Trading securities for the sole purpose of speculating on the future direction of interest rates is prohibited. Purchasing or selling securities on margin is prohibited. The use of reverse repurchase agreements, securities lending or any other form of borrowing or leverage is prohibited.

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10. REVIEW OF INVESTMENT PORTFOLIO
The securities held by the City must be in compliance with Section 8.0 Authorized Investments at the time of purchase. Because some securities may not comply with Section 8.0 Authorized Investments subsequent to the date of purchase, the Treasurer shall at least annually review the portfolio to identify those securities that do not comply. The Treasurer shall establish procedures to report to the Legislative Body major and critical incidences of noncompliance identified through the review of the portfolio.

11. INVESTMENT POOLS/MUTUAL FUNDS
A thorough investigation of any investment pool or money market mutual fund is required prior to investing City funds. A due diligence review will be performed on all money market mutual funds and pooled investment funds on a continued basis.

As outlined in section 9.9 of this policy, investments in mutual funds are restricted to money market mutual funds and must meet the experience and asset requirements as stated. Treasury staff will continually monitor the funds to ensure the maintenance of those ratings/requirements.

Reports on the performance of the Pooled Money Investment Account/LAIF can be found on the California State Treasurer’s web site as well as the Investment Board report, historical rates/costs and market valuations. These reports should be reviewed each month as part of the due diligence review.

12. COLLATERALIZATION
California Government Code, Sections 53652 et seq., specifies the types and levels of collateral for public funds on deposit above the FDIC insurance amounts. These collateral requirements apply to both active bank deposits (checking and savings accounts) and inactive bank deposits (non-negotiable certificates of deposit) and must be maintained for all the City’s bank deposits.

13. SAFEKEEPING AND CUSTODY
All securities held by the City of Concord shall be held in safekeeping by a third-party bank trust department acting as agent for the City under the terms of the custody agreement executed by the bank and the City and shall be evidenced by safekeeping receipts. All securities will be received and delivered using standard delivery-versus-payment (DVP) procedures. Investments in the State Pool or money market mutual funds are undeliverable and are not subject to delivery or third-party safekeeping.

14. DIVERSIFICATION
The City of Concord will diversify its portfolio by investment type, issuer, maturity dates and broker/dealer.

No more than 5% of the City’s portfolio shall be invested in the securities of any issuer regardless of security type, excluding U.S. Treasuries, Federal Agencies, and pooled investments such as LAIF, money market funds, or local government investment pools.

The City may elect to sell a security prior to its maturity and record a capital gain or loss in order to manage the quality, liquidity or yield of the portfolio in response to market conditions or the City’s risk preferences.

For purposes of diversification, LAIF accounts will not be aggregated. Limits for security types are set forth in Section 8.0 of this document.

15. MAXIMUM MATURITIES
The City of Concord will attempt to match its investments with anticipated cash flow requirements whenever possible. The maximum maturity of any one security, unless otherwise stated in this Investment Policy or restricted by the California Government Code, is limited to five years. For purposes of compliance with this Policy, an investment’s term or remaining maturity shall be measured from the settlement date to final maturity. The City may not invest in a security whose maturity exceeds Page 60 of 100 five years from the settlement date of purchase unless City Council has provided approval for a specific purpose at least three months before the investment is made.

16. INTERNAL CONTROLS
The City Treasurer has developed a system of internal controls to ensure compliance with investment policies and procedures of the City of Concord and the California Government Code.

The Senior Financial Analyst will review and post monthly interest accruals and will analyze the monthly statements of the City’s externally managed portfolios and funds.

17. REPORTING
California Government Code Section 53646 states that the Treasurer may render a quarterly report to the Legislative Body within 45-days of the quarter’s end. Section 53646(b) only states that the report is to be rendered to the Legislative Body; no action is required by the Legislative Body. California Government Code Section 53607 states that the Treasurer shall render a monthly list of investment transactions to the Legislative Body when investment authority has been delegated to the Treasurer by the Legislative Body.

The quarterly report shall include the type of investment, issuer, maturity date, par and cost/book values of all securities, investments and monies held by the City of Concord. It shall also include the rate of interest, the current market value as of the report date and the source of the valuation. In addition, the report shall include a list of investment transactions that occurred during the prior three months. The report shall state compliance of the portfolio to the Investment policy as well as the California Government Code and it shall state the City’s ability to meet its estimated expenditures for the next six months. The treasury staff will also post the quarterly investment report onto the Treasury section of the City of Concord’s website.

18. INVESTMENT POLICY ADOPTION
The City of Concord’s investment policy shall be rendered to and adopted by the City Council annually as recommended by California Government Code Section 53646.

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19. GLOSSARY
AGENCIES: Shorthand market terminology for any obligation issued by a government-sponsored entity (GSE), or a federally related institution. Most obligations of GSEs are not guaranteed by the full faith and credit of the US government. Examples are:

FFCB: The Federal Farm Credit Bank System provides credit and liquidity in the agricultural industry.

FFCB issues discount notes and bonds.

FHLB: The Federal Home Loan Bank provides credit and liquidity in the housing market. FHLB issues discount notes and bonds.

FHLMC: Like FHLB, the Federal Home Loan Mortgage Corporation provides credit and liquidity in the housing market. FHLMC, also called “FreddieMac” issues discount notes, bonds and mortgage pass-through securities.

FNMA: Like FHLB and FreddieMac, the Federal National Mortgage Association was established to provide credit and liquidity in the housing market. FNMA, also known as “FannieMae,” issues discount notes, bonds and mortgage pass-through securities.

GNMA: The Government National Mortgage Association, known as “GinnieMae,” issues mortgage pass-through securities, which are guaranteed by the full faith and credit of the US Government.

PEFCO: The Private Export Funding Corporation assists exporters. Obligations of PEFCO are not guaranteed by the full faith and credit of the US government.

TVA: The Tennessee Valley Authority provides flood control and power and promotes development in portions of the Tennessee, Ohio, and Mississippi River valleys. TVA currently issues discount notes and bonds. Federal agency securities and/or Government sponsored enterprises.

ASSET-BACKED SECURITIES: Securities supported by pools of installment loans or leases or by pools of revolving lines of credit.

AVERAGE LIFE: In mortgage-related investments, including CMOs, the average time to expected receipt of principal payments, weighted by the amount of principal expected.

BANKERS’ ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer.

BENCHMARK: A comparison security or portfolio. A performance benchmark is a partial market index, which reflects the mix of securities allowed under a specific investment policy.

BROKER: A broker brings buyers and sellers together for a commission.

CALLABLE: A callable security gives the issuer the option to call it from the investor prior to its maturity.

The main cause of a call is a decline in interest rates. If interest rates decline, the issuer will likely call its current securities and reissue them at a lower rate of interest.

CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate.

Time certificates of deposit are collateralized in accordance with the State code. Large-denomination CDs are typically negotiable and non-collateralized.

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COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COLLATERALIZED BANK DEPOSIT: A bank deposit that is collateralized at least 100% (principal plus interest to maturity). The deposit is collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.

COLLATERALIZED MORTGAGE OBLIGATIONS (CMO): Classes of bonds that redistribute the cash flows of mortgage securities (and whole loans) to create securities that have different levels of prepayment risk, as compared to the underlying mortgage securities.

COLLATERALIZED TIME DEPOSIT: Time deposits that are collateralized at least 100% (principal plus interest to maturity). These instruments are collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.

COMMERCIAL PAPER: The short-term unsecured debt of corporations.

COUPON: The rate of return at which interest is paid on a bond.

CREDIT RISK: The risk that principal and/or interest on an investment will not be paid in a timely manner due to changes in the condition of the issuer.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: Delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt of the securities.

DERIVATIVES: (1) Financial instruments whose return profile is lined to or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities, or commodities).

DISCOUNT: The difference between the par value of a bond and the cost of the bond, when the cost is below par. Some short-term securities, such as T-bills and banker’s acceptances, are known as discount securities. They sell at a discount from par and return the par value to the investor at maturity without additional interest. Other securities, which have fixed coupons, trade at a discount when the coupon rate is lower than the current market rate for securities of that maturity and/or quality.

DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns.

EFFECTIVE DURATION: A measure of the sensitivity of the price (the value of principal) of a fixed- income investment to a change in interest rates. The calculation takes into account the fact that expected cash flows of some investment types will fluctuate as interest rates change. Effective duration is expressed as a number of years.

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FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L’s, small business firms, students, farmers, farm cooperatives, and exporters.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit.

FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks) which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLB is to liquefy the housing related assets of its members who must purchase stock in their district Bank.

FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA or Fannie Mae): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder-owned corporation. The corporation’s purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest.

FEDERALLY INSURED TIME DEPOSIT: A time deposit is an interest-bearing bank deposit account that has a specified date of maturity, such as a certificate of deposit (CD). These deposits are limited to funds insured in accordance with FDIC insurance deposit limits.

FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.

FIDUCIARY: A person or organization that acts on behalf of another person(s) or organization that puts their clients’ interest ahead of their own as they are bound both legally and ethically to act in the other’s best interests.

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the US Government. Ginnie Mae securities are backed by the mortgages, including FHA and VA mortgages. The term “pass-throughs” is often used to describe Ginnie Maes.

ISSUER: A legal entity that has the power to issue and distribute securities. Issuers include corporations, municipalities, foreign and domestic governments and their agencies, and investment trusts.

LEVERAGE: Borrowing funds in order to invest in securities that have the potential to pay earnings at a rate higher than the cost of borrowing.

LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.

POOLED MONEYLOCAL AGENCY INVESTMENT FUND (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the County or State Treasurer for investment and reinvestment. The State of California's pool is known as the Local Agency Investment Fund, or LAIF.Page 64 of 100 MAKE WHOLE CALL: A type of call provision on a bond that allows the issuer to pay off the remaining debt early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment that equals the net present value (NPV) of future coupon payments that will not be paid because of the call. With this type of call, an investor is compensated, or "made whole." MARGIN: The difference between the market value of a security and the loan a broker makes using that security as collateral.

MARKET RISK: The risk that the value of securities will fluctuate with changes in overall market conditions or interest rates.

MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold.

The investment’s term or remaining maturity is measured from the settlement date to final maturity.

MATURITY: The date upon which the principal or stated value of an investment becomes due and payable.

MEDIUM TERM NOTES: Unsecured, investment-grade senior debt securities of major corporations which are sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly flexible debt instruments that can be structured to respond to market opportunities or to investor preferences.

MODIFIED DURATION: The percent change in price for a 100-basis point change in yields. Modified duration is the best single measure of a portfolio’s or security’s exposure to market risk.

MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded.

MONEY MARKET MUTUAL FUND: A mutual fund that invests exclusively in short-term securities.

Examples of investments in money market funds are certificates of deposit and U.S. Treasury securities.

Money market funds attempt to keep their net asset values at $1 per share.

MORTGAGE PASS-THROUGH SECURITIES: A securitized participation in the interest and principal cash flows from a specified pool of mortgages. Principal and interest payments made on the mortgages are passed through to the holder of the security.

MUNICIPAL SECURITIES: Securities issued by state and local agencies to finance capital and operating expenses.

NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO): A credit rating agency that the Securities and Exchange Commission in the United States uses for regulatory purposes.

Credit rating agencies provide assessments of an investment's risk. The issuers of investments, especially debt securities, pay credit rating agencies to provide them with ratings. The three most prominent NRSROs are Fitch, S&P, and Moody's.

NEGOTIABLE CERTIFICATE OF DEPOSIT (CD): A short-term debt instrument that pays interest and is issued by a bank, savings or federal association, state or federal credit union, or state-licensed branch of a foreign bank. Negotiable CDs are traded in a secondary market.

PAYDOWN: A reduction in the principal amount owed on a bond, loan, or other debt.

PORTFOLIO: Collection of securities and investments held by an investor.

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PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC) registered securities broker-dealers, banks and a few unregulated firms.

PRUDENT INVESTOR (PRUDENT PERSON) RULE: A standard of responsibility which applies to fiduciaries. In California, the rule is stated as “Investments shall be managed with the care, skill, prudence and diligence, under the circumstances then prevailing, that a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of like character and with like aims to accomplish similar purposes.” An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state. In other states, the trustee may invest in a security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital.

RATE OF RETURN: For fixed-rate securities, it is the coupon or contractual dividend rate divided by the purchase price which is also the current yield.

SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.

SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation.

SEC RULE 15C301: See Uniform Net Capital Rule.

STRUCTURED NOTE: A complex, fixed income instrument, which pays interest, based on a formula tied to other interest rates, commodities or indices. Examples include inverse floating rate notes which have coupons that increase when other interest rates are falling, and which fall when other interest rates are rising, and "dual index floaters," which pay interest based on the relationship between two other interest rates - for example, the yield on the ten-year Treasury note minus the Libor rate. Issuers of such notes lock in a reduced cost of borrowing by purchasing interest rate swap agreements.

SUPRANATIONALS: International financial institutions that are generally established by agreements among nations, with member nations contributing capital and participating in management. Supranational bonds finance economic and infrastructure development and support environmental protection, poverty reduction, and renewable energy around the globe.

TOTAL RATE OF RETURN: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains, and losses in the portfolio.

U.S. TREASURY OBLIGATIONS: Securities issued by the U.S. Treasury and backed by the full faith and credit of the United States. Treasuries are considered to have no credit risk and are the benchmark for interest rates on all other securities in the US and overseas. The Treasury issues both discounted securities and fixed coupon notes and bonds.

TREASURY BILLS: A non-interest bearing discount security issued by the US Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year.

TREASURY BONDS: Long-term coupon-bearing US Treasury securities issued as direct obligations of the US Government and having initial maturities of more than 10 years.

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TREASURY NOTES: Medium-term coupon-bearing US Treasury securities issued as direct obligations of the US Government and having initial maturities from two to 10 years.

UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as non-member broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15:1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash.

YIELD: The rate of annual income return on an investment, expressed as a percentage: (a) Income Yield is obtained by dividing the current dollar income by the current market price for the security; (b) Net Yield or Yield to Maturity is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond.

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From: Barone, Valerie <[email protected]> Sent: Thursday, May 29, 2025 12:29 PM
To: Fockler, Joelle <[email protected]>; Lee, Donna <[email protected]>; Robinson, Monique
<[email protected]>
Subject: FW: following up to Laura N.'s Investment Policy Question This e-mail is being shared with all Councilmembers
Council,
As shared with you in this week’s one on ones, the PD&IO Committee (Carlyn/Laura N.) had their first meeting to hear requests from community members that the Council apply a social equity lens to its investment policy. There were approximately 12 members of the public at the committee meeting, all speaking in favor of Council doing so—but describing what that means to them in differing terms.

The Committee has requested staff collect samples of investment policies from other cities and that we bring the item back to them at a future meeting for further consideration, anticipated to occur in August.

Additionally, the Committee supported staff bringing a staff-initiated update to our investment policy—making necessary changes to stay current with state law and do some other minor technical cleanups—before Council as part of the budget adoption process. In other words, the issue of the technical changes has been separated from the consideration of policy changes.

After the meeting, Councilmember Nakamura asked a few questions, which are answered below.

Valerie
Attachment 10

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Valerie Barone, City Manager (she/her/hers)
City of Concord | Website: www.cityofconcord.org
( (925) 671-3150 | * [email protected]
1950 Parkside Drive, MS/01, Concord, CA 94519
Subscribe to our City News e-newsletter to stay informed about what's happening in your community!

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From: Barone, Valerie <[email protected]> Sent: Thursday, May 29, 2025 11:25 AM
To: Nakamura, Laura <[email protected]>
Cc: O'Brien, Margaret <Margaret.O'[email protected]>; Lee, Donna <[email protected]>; Ezell, Justin <[email protected]> Subject: FW: following up to PDIO meeting
Laura,
Here is the information you requested. My (really Margaret/s/Donna’s/and my) response is below in green font after each of your questions.

I will share this information with the full Council by separate e-mail.

Valerie
Valerie Barone, City Manager (she/her/hers)
City of Concord | Website: www.cityofconcord.org
( (925) 671-3150 | * [email protected]
1950 Parkside Drive, MS/01, Concord, CA 94519
Subscribe to our City News e-newsletter to stay informed about what's happening in your community!

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From: Nakamura, Laura <[email protected]> Sent: Friday, May 23, 2025 9:37 AM
To: Barone, Valerie <[email protected]>
Cc: Obringer, Carlyn <[email protected]> Subject: following up to PDIO meeting
Good morning, Valerie.

After the meeting I had a chance to hear feedback from some of the participants and there were questions about the compliance piece for the investment policy, like deadline and whether other municipalities are doing the same. I wasn’t confident in my responses and told them that I’d get a better explanation from you. All cities have the same responsibility to stay compliant with state law. As to when and how they do it, City staff do not know. Not staying compliant with state law can impact a city’s bond rating.

Also, it was pointed out that my questions about the technical component of the investment policy 4.1.2 were not fully answered. So, I will reshare them here.

I asked what index was being used and how we can be more specific, who chooses and what parameters are used. We ended up focusing on the +/- 20% language.

The benchmark currently being used is the ICE BofA 1-5 Year U.S. Treasury & Agency Index. It is selected by the Treasurer and Finance Director in consultation with the City’s investment advisor. This same benchmark was used by the previous investment Finance Director and Investment Advisor. This benchmark is used to both guide how long investments are held (known as "duration") and forms the benchmark against which the City investment team evaluates an investments overall return, which includes both interest earned and any gains or losses in the value of investments. The benchmark is listed in a separate administrative document the City issues to instruct the City’s investment team as one tool for implementing the Council’s adopted investment policy. It is specifically not included in the City’s investment policy, to allow flexibility as appropriate within the adopted policy so that the City can quickly respond to shifts in the economy. The 20% language you are asking about and was discussed at the Committee meeting relates to allowing a deviation in duration tenure for investments.

Based on feedback from the Committee, and an acknowledgement from the City’s financial investment team that it would have no practical impact, it was lowered to 10% rather than 20% in the draft investment policy going before Council on June 10.

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The staff report for the budget, which includes a request to Council to approve an updated investment policy (solely for conformance with state law and technical and clarity clean ups), will explain that the PD&IO Committee is still in the process of evaluating if it wants to make recommendations for changes to the policy to reflect a social equity lens. If the Committee settles on recommendations on this topic the investment policy will again be agendized for Council review. In other words, the budget staff report will explain that the two issues have been bifurcated, with the Committee’s support, and that it is possible the Committee may return later in the year with additional proposed changes for Council consideration.

Lastly, what is the maturity date for the bonds for the following companies that we are specifically being asked to not invest in (note each maturity date is shown in green following the investment): Lockheed Martin 05/15/2028, Caterpillar 01/08/2027, Cisco Systems 02/26/2029, IBM 07/27/2025, Toyota 01/05/2029?
Thanks in advance,
Laura
Laura Nakamura (She/her/hers)
Vice Mayor / City Councilmember, District 5
Mobile 925-338-1259
Web https://www.lauranakamura.net/
Sign up for my newsletter:
https://www.lauranakamura.net/newsletter

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After the meeting, Councilmember Nakamura asked a few questions, which are answered below.

Valerie
Benched Attachment 10
Agenda Item No. 6.b
June 10, 2025
Changes in green font.

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I will share this information with the full Council by separate e-mail.

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Also, it was pointed out that my questions about the technical component of the investment policy 4.1.2 were not fully answered. So, I will reshare them here.

I asked what index was being used and how we can be more specific, who chooses and what parameters are used. We ended up focusing on the +/- 20% language.

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practical impact, it was lowered to 10% rather than 20% in the draft investment policy going before Council on June 10.

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We request that the city allow for the July expiration of the current IBM bond holdings, and not renew or repurchase holdings of IBM.

IBM no longer belongs in our city’s investment portfolio, due to the choices that have been made by them to support systems of authoritarian oppression, environmental degradation, and attacks on this very community. This morning one of IBM’s clients, ICE, performed a raid on the immigration courts in Concord, which was partially prevented by a swelling of community support by and for our neighbors. Mayor, Council Member Hoffmeister, you were part of the decision to make Concord a sanctuary district, to protect our neighbors from the actions of state cruelty. We call on you again, to protect our city, do not let us support the corporations that enabled the breaking of our community. Do not renew our bond holdings with IBM.

Thank you,
Concord Community Members

The email above was submitted by:

1. Mary Cook

2. Savioso Ramirez

3. Emma Saeyang

4. River

5. Krystal Garcia and other community members

Benched Correspondence
Agenda Item 6.b
June 10, 2025

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City Council Budget Hearing
FYs 2025-26 and 2026-27
Proposed Biennial Operating Budget
DONNA K. LEE, BUDGET AND TREASURY OFFICER
JUNE 10, 2025
1

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Biennial Budget Public Hearing Agenda
➢ Public Notification Process
➢ Budget Overview
➢ Council Question Follow-up
➢ Measure V Oversight Committee Report
➢ Council Action
2

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3 Meetings
May 5, 2025 - Measure V Oversight Committee Meeting
May 13, 2025 - Budget Workshop
June 10, 2025 - Public Hearing
Notifications
April 24, 2025 – “City News” e-newsletter to 10,000 Subscribers May 30 and June 5, 2025 - Notice of Public Hearing published in East Bay Times
Public Communication Process

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FYs 2025-26 and 2026-27
Proposed Biennial Operating
Budget Overview
4

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Proposed FYs 2025-27 Operating Budget
The Proposed FYs 2025-27 Biennial Operating Budget is a balanced approach during uncertain times, that will require close monitoring by staff and City Council.
• Preserves vital community services
• Is balanced using reserves
• Invests Measure V revenues to support essential services 5

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6 Proposed General Fund Budget
(in millions)
FY 2025-26
Proposed Budget
FY 2026-27
Proposed Budget
Resources
Regular Revenue 116.0 119.6
Measure V - Support of
Operations and Council Priorities 20.1 20.2 Total Resources 136.1 139.8
Total Appropriations 138.6 142.6
Use of Reserves 2.5 2.8
Ending Reserve Percentage 29% 26%

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Proposed FYs 2025-27 Operating Budget
The Proposed General Fund Budget Incorporates:
• $4.4M Increased Revenues from Property Taxes, Sales Taxes, and Fees and Charges
• $2.2M Permanent, Non-personnel Budget Cuts
• $1.2M Reallocations to Other Non-General Fund Funding Sources • $3.1M Projected Expenditure Savings from:
• $1.9M Non-personnel Savings
• $1.2M Vacancy Savings
7

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Investments in Council and Community Priorities
➢ Improves Capital Project Service Delivery through:
▪ Creation of a Residential Roadway Maintenance Crew.
▪ Addition of a Senior Civil Engineer and a Construction Inspector to enhance Capital Improvement Program (CIP)
delivery and perform work currently performed by
consultants.

Improvements are net neutral to the General Fund
8

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Investments in Council and Community Priorities
➢ Funding the Todos Santos Business Association (TSBA) security program.
➢ Forgiving the outstanding balance of the loan from the Workers’ Compensation Fund to the Pavilion Fund and redirecting residual Pavilion funds to the General Fund.
9

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11 All Funds Proposed Budget
FY 2025-26: $284.3M
FY 2026-27: $282.3M

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May 13 Budget Workshop
Follow-up
12

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13 Funding for TSBA Downtown Security Program
FY 2025-26 FY 2026-27 Total
Cost of Security Guard Contract 155,000 155,000 310,000 Brenden-Mann Grant (12,000) (12,000) (24,000)
Funding Requested from the City 143,000 143,000 286,000 Eliminate Lobbyist Services Contract (60,000) (60,000) (120,000) Reallocate Homeless Strategic Plan Funds (83,000) (83,000) (166,000) Remaining Funding Needed - - -

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Coordinated Outreach Referral and Engagement
(CORE) Contract
14 Fiscal Year Measure V PLHA Grant Total
Fiscal Year 2023-24 275,594 122,000 397,594 Fiscal Year 2024-25 297,912 130,000 427,912 Fiscal Year 2025-26 352,200 100,000 452,200 Total Funding 925,706 352,000 1,277,706

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Cannabis Community Benefit Fund
15 Cannabis Community Benefit Fund Proposed Budget FY 2025-26 FY 2026-27 CCBF Revenues
Developer Contributions 300,000 300,000
Interest 13,000 13,000
Total Revenues 313,000 313,000
CCBF Expenditures
Salary and Benefits for .08 FTE Housing and Community Services Manager 26,000 28,000 Salary and Benefits for .56 FTE School Resource Officer 206,000 211,000 Grant Funding 81,000 74,000
Total Expenditures 313,000 313,000

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Impact of Tobacco Ordinance on Sales Tax
16 Council Requested Information

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Measure V Oversight
Committee Report
17 Brandy Leidgen, Committee Vice-Chair

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Recommend Action Items
18

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Recommended Budget Action Items
1) Move approval of staff’s recommendations which includes:
a) Adopt a Resolution adopting the Municipal Budget for Fiscal Years 2025-26 and 2026-27, including a Long-Range Financial Forecast. b) Adopt a Resolution forgiving the remaining balance of the Interfund Loan Agreement between the Workers’ Compensation Fund (Lender) and the Pavillion Fund (Borrower) in the amount of $1,153,846.12. 19

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Recommended Budget Action Items (continued)
c) Adopt a Resolution establishing the appropriation limit for the City of Concord for FY 2025-26, pursuant to California Constitution Article XIII B. d) Adopt a Resolution adopting the City of Concord’s Salary Schedule effective July 7, 2025, in accordance with the requirements of California Public Employees Retirement System (CalPERS) for a publicly available pay schedule.
20

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Recommended Budget Action Items (continued)
21 e) Adopt a Resolution amending Exhibit A to Resolution No. 78-6042 in order to correct Transportation Fees on the Permit Center schedule erroneously identified as zero dollars in Uncodified Ordinance 25-6042.1 (renumbered as 25-5), Exhibit A2.
f) Adopt the Fiscal Year 2025-26 City of Concord Investment Policy.

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22 Questions?

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Staff Report
Date: June 10, 2025
To: City Council
From: Valerie J. Barone, City Manager
Reviewed by: Mindy Gentry, Director of Community Development Carlton Thompson, PE, City Engineer
Prepared by: Bruce Davis, PE, CIP Manager
[email protected]
(925) 671-3470
Subject: Considering the following actions:

1. Adoption of a Resolution approving the following:
a. The Mid-Cycle Adjusted Capital Budget for Fiscal
Year (FY) 2025-2026;
b. Acceptance and appropriation of $8,848,800 of
Highway Safety Improvement Program (HSIP) grant
funds from the Federal Highway Administration
(FHWA); and
c. Authorizing the City Manager to redistribute
budgeted appropriations between existing similar
capital projects, up to a maximum of $220,000 per
project.

2. Adoption of a Resolution authorizing the submittal of an application for funding assigned to the Metropolitan
Transportation Commission (MTC) and committing any
necessary matching funds and stating assurance to
complete the Concord Parking Management
Implementation Project; and Authorizing the City
Manager to accept and appropriate such funds, and
execute necessary or appropriate documents and
agreements in a form acceptable to the City Attorney.

6.c6.c6.c6.c6.c6.c

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
CEQA: Not a project under Public Resources Code Section 21065, CEQA Guidelines Section 15060(c)(2), 15061(b)(3), 15262, 15273, and/or 15378.

Report in Brief
In June 2024, the City Council (Council) adopted the Capital Budget for Fiscal Years (FY) 2024-2025 and 2025-2026 (Capital Budget), as well as the Five-Year Capital Improvement Plan for FYs 2024-2029 (CIP). This mid-cycle review of the Capital Budget is intended to highlight accomplishments over the last year, consider mid-cycle adjustments to continuing projects via budget transfers, approve new projects, and appropriate funding, including $8,848,800 of Highway Safety Improvement Program (HSIP) grant funds from the Federal Highway Administration (FHWA).

In addition, the proposed Resolution includes the Council authorizing the City Manager to redistribute previously appropriated funds between similar capital projects up to a maximum amount of $220,000 and transfer funds back to the contributing funds to streamline project closeouts and make future budget transfers more efficient.

By separate Resolution the Council is being asked to accept a $435,219.69 grant award from the Metropolitan Transportation Commission (MTC), to be included in the FY 2025- 26 Capital Budget, for the Downtown Parking Implementation Project. The project aims to leverage technology as well as improvement to the physical infrastructure to improve parking management within downtown Concord. Improvements may include digital time limit enforcement, parking space occupancy sensors, dynamic wayfinding signs, and updates to signage, striping and curb marking in and around the Todos Santos Plaza area.

Recommended Action

1. Adopt a Resolution approving:
a. the Mid-Cycle Adjusted Capital Budget for Fiscal Year (FY) 2025- 2026;
b. Acceptance and appropriation of $8,848,800 of Highway Safety Improvement Program (HSIP) grant funds from the Federal Highway Administration (FHWA); and
c. Authorizing the City Manager to redistribute budgeted appropriations between existing similar capital projects, up to a maximum of $220,000 per project (Attachment 1 and 3).

2. Adopt a Resolution authorizing the submittal of an application for funding assigned to the Metropolitan Transportation Commission (MTC) and committing any necessary matching funds and stating assurance to complete

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
the Concord Parking Management Implementation Project; and authorizing the City Manager to accept and appropriates such funds and execute necessary or appropriate documents in a form acceptable to the City Attorney. (Attachment 2); and

3. Make the CEQA determinations as provided in this staff report.

Background
On June 24, 2024, Council adopted the biennial Capital Budget and Five-Year Capital Investment Plan (CIP). Biennial budgeting refers to the practice of developing a budget every two years. Under biennial budgeting, the public and Council receive a mid-cycle review approximately 12 months after the initial adoption of the biennial budget. This report provides a status update for year one of the biennial Capital Budget.

On May 5, 2025, staff presented to the Measure V Oversight Committee the completed Capital Budget projects, including infrastructure maintenance projects that used Measure V funds for FY 2024-2025, and reported on the expected use of bond funds.

On May 7, 2025, the Planning Commission (Commission) considered the proposed FY 2025-2026 Mid-Cycle Adjusted Capital Budget and its consistency with the adopted General Plan. The Commission unanimously recommends to the Council that, for purposes of Government Code Sections 65401 and 65402, the projects and proposed street vacations/right-of-way acquisitions listed in the proposed FY 2025-26 Mid-Cycle Capital Budget are consistent with the General Plan.

In May 2024, the City of Concord, with funding support from the Metropolitan Transportation Commission (MTC), initiated the Downtown Concord Parking Study. The purpose of the study is to assess the overall parking supply and demand, evaluate the effectiveness of existing time limit restrictions, and address concerns related to curb management, particularly for services such as Uber, Lyft, DoorDash, and other delivery providers. The study also aims to explore transportation technologies that can enhance parking management within the downtown area. Currently in its final phase, the study is scheduled for consideration and to receive direction from the City Council in August 2025.

During the mid-phase of this effort, MTC issued a Call for Projects to fund the implementation of parking technology. Although the parking study was still ongoing, City staff leveraged existing knowledge of local parking issues and incorporated preliminary recommendations from the study to submit a funding application. This proactive approach resulted in the successful award of a $435,219.69 implementation grant. The project aims to leverage technology as well as upgrade the physical infrastructure to improve parking management within downtown Concord. Improvements may include digital time limit enforcement, parking space occupancy sensors, dynamic wayfinding signs, and updates to signage, striping and curb marking.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
Analysis
This mid-cycle review and update of the Capital Budget includes the following topics, each of which is discussed in more detail later in the report:
• Accomplishments in Fiscal Year 2024-25
• Mid-Year Adjustments including Project Budget Transfers • New Projects and Appropriations
Additional related topics for consideration include the following:
• Accept and appropriate recently awarded HSIP grant funds • City Manager authorization to transfer funds between Capital Projects • Affirming local support and commitment for matching funds1 related to the Concord Parking Management Implementation Project
Accomplishments in Fiscal Year 2024-25
Over the past year, significant progress has been made on numerous major projects identified in the Capital Budget. During this fiscal year, projects have been initiated and are currently in various stages of design with many others scheduled for construction this year. This staff report highlights some of the major completed projects from FY 2024-2025, as outlined below:
• Monument Boulevard Pavement Rehabilitation (Project 2581) This project rehabilitated Monument Boulevard from the City limit line at Pleasant Hill to Detroit Avenue and included road widening at 1650 Monument Boulevard.

The road widening involved straightening the sidewalk and modification of existing driveways to meet accessibility standards.
• Cowell Rd Pothole Base Repair (Project 2604)
This project performed pavement maintenance on Cowell Road from Ygnacio Valley Road to Babel Lane and included pothole and base repairs, followed by the application of slurry seal and restriping of the roadway. • Residential Pavement Maintenance Phase B (Project 2607/2608) This project consisted of pavement rehabilitation in the following residential neighborhoods: central Concord between Clayton Road and Cowell Road between Oakland and Davis Avenue; and North Concord, between Olivera Road and State Route 4, and west of Hillsborough Drive (Northwood and a portion of Sun Terrace neighborhoods). The project included the placement of hot-mix asphalt materials as well as the construction and modification of concrete sidewalks, curbs, gutters, curb ramps, driveways, and valley gutters. The work also included new signage, painted traffic striping, pavement markings, and curb markings.
1 To be funded through Project 2577 Transportation Grants Administration/Local Match account.

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June 10, 2025
• Alberta Way Pavement Maintenance (Project 2615)
This project consisted of asphalt patch repairs and mill and fill treatments throughout Alberta Way from Clayton Road to Ygnacio Valley Road. Work also included adjusting utilities and monuments to grade, striping, and signage. • Treat Boulevard Fiber (Project 2656)
This project installed conduit and fiber-optic cable on Treat Boulevard from San Miguel Road to Clayton Road and connected traffic signals in this corridor allowing the City to implement an adaptive signal system to improve traffic operations and signal timing along the Treat Boulevard corridor. Work also included installing new fiber-optic pull boxes, connecting fiber-optic cables into traffic signal cabinets, and connecting to existing fiber-optic interconnects. • Clayton Road Traffic Operation Improvement, Phase 1 (Project 2547) The project involved the installation of interconnected fiber-optic cable on Clayton Road, between Sutter and Market Streets, to help improve real-time traffic monitoring, central communications, and incident management. • Citywide Traffic System Upgrade 2 (Project 2574)
This project upgraded traffic signal equipment at 45 intersections throughout the City to replace aging equipment and provide increased functionality. The project also upgraded approximately 20 curb ramps to current Americans with Disabilities Act (ADA) standards.
• Citywide Sidewalk Repair (Project 2666)
This project repaired City-owned and maintained sidewalks around City-owned facilities and locations where City-owned trees have uplifted the sidewalk. • Sun Terrace Elem School Xing Improvement (Project 2712) This project constructed new ADA-compliant curb ramps, bulb-outs, and striping improvements on Floyd Lane at the intersections of Falcon Drive and Cardinal Drive, increasing pedestrian safety around Sun Terrace Elementary School. • Civic Center Roof and Trim (Project 2429)
This project replaced the entire flat and sloped roofs of the Council Chamber, Wing A, Wing C, and Wing D buildings. The project upgraded the roofing system with a waterproof, insulated PVC membrane system, new underlayment and modern synthetic shingles on the sloped portions of the roof. Improvements also included replacement and painting of the fascia boards and replacement of the original wood shingles with fire-rated synthetic type, closely mimicking the original architecture of Civic Center, as well as the installation of new roof drains, gutters, and downspouts.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
• Civic Center Wooden Benches (Project 2565)
This project replaced the wooden benches surrounding the Council Chambers in the City’s Civic Center with new Alaskan Yellow Cedar benches, the original style of the benches at Civic Center.
• Corp Yard Admin Roof (Project 2659)
This project replaced the metal roof on the Corporation Yard Administration Building. The roof covers the administration facilities, signal shop, and carpenter shop.
• PD Generator and Xfer Switch (Project 2653)
This project replaced the Police Department generator and transfer switch that had reached the end of its service life. The project was completed in May 2024 and was not previously included with Measure V's accomplishments. • Senior Center Boiler Replacement (Project 2657)
This project replaced two boilers, pumps, and all related equipment/piping in the mechanical room at the Senior Center. The boilers supply heat to the majority of the building.
• Willow Pass Community Center Exterior Painting (Project 2568) This project repainted the exterior surface of the Willow Pass Recreational Center to extend its useful life.
• Willow Pass Center Trim Replacement (Project 2393)
This project replaced and repaired approximately 1,000 linear feet of wood trim at the Willow Pass Recreation Center. The wood was beginning to rot. • Clayton Road Traffic Improvements Phase 1 (Project 2547) This project installed fiber-optic cable on Clayton Road, between Sutter and Market Streets, and on Pine Street, between Willow Pass Road and Clayton Road. Fiber-optic cables will improve traffic operations by providing faster and more reliable communication between traffic signals on this busy downtown arterial.
• Pavement Maintenance – Zone 3N (Project 2623)
This project provided rehabilitated streets by using an asphalt overly and base repairs in the residential neighborhood bordered by Meadow Lane and Monument Boulevard to the east, and Lacey Lane and Gelbke Lane to the west.

Curb ramps were upgraded as required by the Americans with Disability Act. • Aspen Sewer Capacity Improvements (Project 2703)
As recommended by the City’s Sewer Master Plan, this project replaced the existing 10-inch sewer line on Aspen Drive between Sunshine Drive and Tilson Drive to meet capacity constraints. This project was constructed as part of the Residential Pavement Maintenance Zone 3N, Project No. 2623, as the sewer improvements are within the same location.

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City Council Agenda Report
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June 10, 2025
• Concord Boulevard Sewer and Streetscape Improvements (Project 2598) This project replaced sewer mains and laterals throughout the downtown area, at the following locations: Concord Boulevard, Salvio Street, Concord Avenue, Broadway Street, and Clayton Road. Completion of this project addressed the remaining sewers in need of repairs and completed the identified sewer needs from the study near and around the downtown area. Following sewer repairs, paving improvements were also completed.
• Willow Pass Road Signal Upgrade (Project 2538)
Willow Pass Road is a four- to six-lane roadway extending between Interstate 680 and State Route 4 and is approximately 4.77 miles long. The project interconnected 13 signalized intersections along Willow Pass Road (Galindo Street to Landana Drive) and Landana Dr (Galindo Street to the Police Department) to implement an adaptive signal system to increase traffic efficiencies. The project also directly interconnected the Police Department, Civic Center, and corporation yard with fiber-optic cables.

Mid-Year Adjustments, including Project Budget Transfers and Appropriation of Funds Staff proposes mid-cycle budget adjustments to reallocate funding from Measure V Fund 490 (Fund 490) and Measure V Debt Issuance Fund 407 (Fund 407) to ongoing projects. These fund adjustments aim to expedite the spending of Fund 407, as mandated by the debt financing. Specifically, the reallocation will involve transferring Fund 407 dollars from projects with longer expenditure timelines to projects that are either currently in construction or scheduled to begin within the next year. None of these Fund 407 transfers change the scope or timing of the involved projects.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
Table 1: Fund 407 and 490 Transfers
Assigned
PJ # Project Title
2025-2026
Recommended
Funding
Transfer from
Project No.:

Transfer to
Project No.:

Source
Fund2
2648
Transportation Offices &
Transportation Management
Center at Corporation Yard $810,000 2648
2571; 2746;
2747; 2748 407
2571
Police Department (PD) Air
Handler $360,000 2571 2648 490
2746
PD Boiler Replacements
$200,000 2746 2648 490
2747
PD Chilled Water Circulation
$150,000 2747 2648 490
2748
PD HVAC VAV & Fan Coils PM
and Replacements
$100,000 2748 2648 490
2635
Meadow Homes Park restroom
replacement $140,000 2635 2756 407
2756
Citywide Irrigation Pump
Replacement $140,000 2756 2635 450
2452
Galindo Street Pavement Rehab
$1,075,000 2452 2736; 2771 407
2736
Street Maintenance 1 (Bailey Rd,
etc) $800,000 2736 2452 490
2771
Baldwin Park Dance Studio
$275,000 2771 2452 490
New Projects and Appropriations
The following new projects are recommended to be added to the Capital Budget, and funds appropriated as part of this mid-cycle adjustment. See Table 2 below for appropriation details, and Attachment 3 for project budget sheets. a. Project PW-26-001: Concord Community Pool Boiler Replacement The four (4) aging boilers at the pool will be replaced with high-efficiency models to improve energy performance, reduce maintenance, and ensure reliable heating. Installation will be scheduled to minimize disruption to pool operation. Replacement boilers were not anticipated in the current Capital Budget and reliability concerns have made it them a priority for the next fiscal year.
2 Fund numbers refer to the following: 407: Measure V debt issuance; 490: Measure V; 450: Parkland Dedication; 402: Capital Projects Reimbursement; 475: Measure J Local; 630: Building Maintenance.

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June 10, 2025
b. Project TRA-26-001: Citywide LED signal indication upgrade Citywide replacement of traffic signal indications (red, yellow, and green) with LED at signalized intersections. This project is recommended in order to secure grant funding that was recently awarded.
c. Project TRA-26-002: Citywide Installation/upgrade of traffic signs Citywide installation and upgrade of all regulatory, warning, and guide traffic signs with new fluorescent sheeting. Additionally, bigger speed limit signs and stop signs at unsignalized locations will be considered and installed where appropriate to improve sign visibility for drivers. Additionally, the standard replacement, relocation, and installation of regulatory, warning, and guide signs will be researched as part of the City's Roadway Safety Sign and Safety Audit, which is a component of this project. All signs will be reviewed for their location, size, information, and retro reflectivity in accordance with the California Manual on Uniform Traffic Control Devices (CA MUTCD). Any missing signs will be identified and replaced, and a sign replacement plan will be created and implemented to maintain sign retro reflectivity for all regulatory, warning, and guide signs. This project is being added because of grant funding that was recently awarded to the City.
d. Project TRA-26-003: Signal Modification of Olivera Road & Grant Street- Northwood Drive
Modification of the traffic signal system at Olivera Road and Grant Street/ Northwood Drive to eliminate permissive left-turn operations, improve intersection safety lighting, and reduce vehicle-pedestrian conflicts. This project is being added because of grant funding that was recently awarded to the City. e. Project TRA-26-004: Traffic Safety Improvement at Various Signalized Locations
Installation at various intersections throughout the City of traffic signal backplates with yellow retroreflective border, pedestrian countdown signal heads, accessible push buttons, and associated ADA curb ramp upgrades, and implementation of the Leading Pedestrian Interval (LPI)3. This project is being added because of grant funding that was recently awarded to the City. f. Project TRA-26-005: Grant Funded Downtown Parking Implementation Project The project aims to leverage technology as well as upgrade the physical infrastructure to improve parking management within downtown Concord.

Improvements may include digital time limit enforcement, parking space occupancy sensors, dynamic wayfinding signs, and updates to signage, striping and curb marking. All proposed improvements will be integrated and detailed in a Concept of Operations Report, which will be presented to the City Council for 3 A Leading Pedestrian Interval is traffic signal timing that allows pedestrians to enter a crosswalk 3-7 seconds before vehicles are given the green indication.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
review and approval prior to finalizing the implementation plan. This project is being added because of grant funding that was recently awarded to the City.

Continuing Projects Fund Transfers
The following projects are recommended for fund transfers as part of the mid-cycle adjusted budget, they are tracked in Table 2 as well. Project budget sheets are included as Attachment 3.
a. Project 2673: Urban Forest Management
A recommended transfer of $100,000 to this project from 2759, Ellis Lake Park Restoration, will be used to inventory remaining trees in City open space that are the City’s responsibility to maintain. Project 2759 will be postponed to 2027- 2029.
b. Project 2756: Citywide Irrigation Pump Replacement
A recommended transfer of $100,000 from 2759, Ellis Lake Park Restoration, to this project will be used to replace unreliable irrigation pumps and related equipment at various City parks. Project 2579 will be postponed to 2027-2029. c. Project 2754: Citywide Median Maintenance and Refurbishment A recommended transfer of $200,000 to this project from 2762, Citywide Trails Master Plan Update, will be used to advance the next phases of this project by the end of 2026. Project 2762 will be postponed to 2027-2029. d. Project 2574: Citywide Traffic System Upgrade, Phase 2 A recommended transfer of $121,534 to this project from 2582, Meadow Lane/ Market Street Paving, will be used to upgrade the electrical service at the Willow Pass Road/Interstate 680 freeway intersection, meeting current MUTCD and industry standards, by adding a separate meter to independently power to the two traffic signals resulting in redundancy in the event of a power outage.

Project 2582 was completed under budget, and a sufficient fund balance remains.
e. Project 2111: Market Street Undergrounding
A recommended transfer of $192,000 to this project from 2628, Market Street Undergrounding Phase 2, will be used to design and construct new street lighting along Market Street. Project 2628 is not anticipated within the current 5- year CIP timeframe and will be postponed due to delays with PG&E. f. Project 2782: City of Concord SS4A Action Plan
A recommended transfer of $50,000 to this project from Project 2577, Transportation Grants Administration/Local Match. This project is funded through federal grant for $400,000 and requires a $100,000 in local match.

Currently only $50,000 of local match has been appropriated for this project and an additional $50,000 is required.

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City Council Agenda Report
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June 10, 2025
Table 2: New and Continuing Fund Transfers
Project
No.

New/
Contin
uing
Project
Project Title
2025-26
Adopted
(All Fund
Types)
2025-26
Recommended
New
Adjustment
(Fund4)
Total New
Budget
(All Fund
Types)
Transfer
from
Project
No.:

Transfer to
Project
No.:

PW-
26-001 New
Concord Community Pool
Boiler Replacement 0
$288,000
(Fund 630) $288,000 2592 PW-26-001
2592 Cont. Bldg Maint - Holding Acct $1,585,000
$(288,000)
(Fund 630) $1,297,000 2592 PW-26-001
TRA-
26-001 New
Citywide LED signal
Indication upgrade 0 --
$170,110
(Fund 404) -- --
TRA-
26-002 New
Citywide
Installation/upgrade of
traffic signs with new
fluorescent sheeting 0
$778,250
(Fund 490) $7,782,500 2577 TRA-26-002
TRA-
26-003 New
Signal Modification of
Olivera Road & Grant
Street/Northwood Drive 0
$93,250
(Fund 490) $932,500 2577 TRA-26-003
TRA-
26-004 New
Traffic Safety
Improvement at Various
Signalized Locations 0
$111,700
(Fund 490) $1,117,000 2577 TRA-26-004
TRA-
26-005 New
Grant Funded Downtown
Parking Implementation
Project 0
$64,780.72
(Fund 490)
$500,000
(Fund 402) 2577 TRA-26-005
2577 Cont.

Transportation Grants
Administration / Local
Match $1,500,000
$(983,200)
(Fund 490) $516,800 2577
TRA-26-002;
TRA-26-003;
TRA-26-004;
2673 Cont.

Urban Forest
Management NA
$100,000
(Fund 450) $100,000 2759 2673
2756 Cont.

Citywide Irrigation Pump
Replacement $150,000
$100,000
(Fund 450) $250,000 2759 2756
2759 Cont.

Ellis Lake Park
Restoration $250,000
$(200,000)
(Fund 450) $50,000 2759 2673; 2756
2754 Cont.

Citywide Median
Maintenance and
Refurbishment $50,000
$200,000
(Fund 475) $250,000 2762 2754
4 Fund numbers refer to the following: 407: Measure V debt issuance; 490: Measure V; 450: Parkland Dedication; 402: Capital Projects Reimbursement; 475: Measure J Local; 630: Building Maintenance.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
2762 Cont.

Citywide Trails Master
Plan Update $250,000
$(200,000)
(Fund 475) $50,000 2762 2754
Project
No.

New/
Contin
uing
Project
Project Title
2025-26
Adopted
(All Fund
Types)
2025-26
Recommended
New
Adjustment
(Fund5)
Total New
Budget
(All Fund
Types)
Transfer
from
Project
No.:

Transfer to
Project
No.:
2574 Cont.

Citywide traffic system
upgrade Ph2 (PG&E new
service) $2,517,000
$121,534
(Fund 407) $2,395,466 2582 2574
2582 Cont.

Meadow Lane/Market
Street Paving $3,700,000
$(121,534)
(Fund 407) $3,578,466 2582 2574
2111 Cont.

Market St
Undergrounding $147,000
$192,000
(Fund 490) $347,000 2628 2111
2628 Cont.

Market Street Utility
Undergrounding - Phase 2 $250,000
$(192,000)
(Fund 490) $50,000 2628 2111
2782 Cont.

City of Concord SS4A
Action Plan $450,000
$50,000
(Fund 490) $500,000 2577 2782
2577 Cont.

Transportation Grants
Administration / Local
Match $1,500,000
$(50,000)
(Fund 490) $402,019 2577 2782
HSIP Grant Acceptance and Appropriation of Funds
The Transportation Division was successful in being awarded $8,848,000 in HSIP funds from Caltrans and the Council is required to accept the grants prior to utilization.

Acceptance of these grants will fund the following projects, which are described in greater detail above.

1. Project TRA-26-002: Install / upgrade signs with new fluorescent sheeting – Grant Funding: $7,004,250 Local Match: $778,250 – Total: $7,782,500

2. Project TRA-26-003: Olivera Road & Grant Street-Northwood Drive – Grant Funding: $839,250, Local Match: $93,250, Total = $932,500

3. Project TRA-26-004: Traffic Safety Improvement at Various Locations – Grant Funding $1,005,300, Local Match: $111,700, Total = $1,117,000 5 Fund numbers refer to the following: 407: Measure V debt issuance; 490: Measure V; 450: Parkland Dedication; 402: Capital Projects Reimbursement; 475: Measure J Local; 630: Building Maintenance.

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
Local matches for each of the three projects will come from Project 2577, Transportation Grants Administration project, utilizing Measure V (Fund 490), in which there is adequate funding for the necessary transfers.

City Manager's Authorization to Transfer Funds between Capital Projects Currently, budget transfers and funding allocations require Council approval for any amount of appropriated funds to be transferred between previously approved capital projects. Staff is recommending that Council authorize the City Manager to redistribute budgeted appropriations between similar existing capital projects, up to $220,000 per project, to streamline project closeouts and make future budget transfers more efficient.

This approach is used by other local cities in similar forms and can be considered a best practice with a balance of staff efficiency and budget transparency. Funds could be transferred from projects from the current or previous capital budgets as long as the projects are similar, such as from one sewer infrastructure project to another sewer project, or between paving projects. The $220,000 recommended is the current California Uniform Public Construction Cost Accounting Act (CUPCCA) maximum amount a contract can be awarded using informal procedures and thus serves as a reasonable marker for this authority. This authority does not allow the City Manager to create new projects, nor does it allow for an increase to the overall total appropriation of the Capital Improvement Program.

Concord Parking Management Implementation Project and MTC Grant Award The City’s, consultant, CHS Consulting, is in the process of drafting the final report for the Downtown Concord Parking Study, which is evaluating the parking system in the downtown area. The report will include technical memorandums, including parking study findings, and formulating recommendations to address observed parking management inefficiencies. In summary, the study affirms inadequate enforcement of time limit ordinances, overlapping and sometimes conflicting curb control markings and posted time limits, inadequate signage and wayfinding to direct travelers to available parking supply, as well as imbalanced parking occupancy rates in public parking garages (i.e., oversaturation of demand and occupancy on lower versus upper levels). Staff will be seeking direction following a formal presentation of the final report and study results to Council, which is anticipated for August 2025.

The MTC grant award of $435,269.69 will implement the aforementioned parking study findings; however, it is federally funded which has a lengthy timeline to obligate the funding. "Obligating" the funding effectively makes the federal funds available for use, once the required forms and review process have been completed. This process is as follows:

1. Adopt a Resolution of Local Support. This is a Transportation Improvement Program (TIP) requirement. The TIP is a comprehensive four-year regional spending plan for near-term transportation projects, programs, and investment priorities.

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June 10, 2025

2. Add the approved project award to the TIP. This is done through MTC’s Fund Management System (FMS). Projects must be included in the TIP to obligate the funds and can take up to four months to receive federal approval into the TIP.

3. Obligate funds through Caltrans. This requires form E-76 (see Local Assistance Procedures Manual). This process will start after the TIP is approved and will take 6-12 months.

To formally accept this grant award and to fulfill grant program requirements for timely obligation of funds, staff requests Council authorization and approval of the attached Resolution in support of this effort, which is Step 1 in the above process (Attachment 2).

Financial Impact
The proposed Capital Budget changes support the City’s infrastructure investment goals. Specifically, many of the funding changes assist the City in meeting its obligations for the timing of investments of the City’s Measure V debt financing.

Budget Transfers
Refer to Table 1 in this report for recommended fund transfers between Fund 407 and Fund 490, totaling $4,050,000.

New and Continuing Projects
All recommended new and continuing projects and budget adjustments will be made using local funds which were previously appropriated during the Capital Budget adoption, with the exception of new grant funding for transportation projects totaling $10.8 million in new appropriations as described above. Refer to Table 2 for fund transfers related to all new and continuing projects.

Environmental Determination
Pursuant to the California Environmental Quality Act (CEQA) of 1970, Public Resources Code Section 21000, et. seq., as amended and implementing State CEQA Guidelines, Title 14, Chapter 3 of the California Code of Regulations (collectively “CEQA”), Council action on this item and the activities described herein do not constitute a “project within the meaning of Public Resources Code Section 21065, 14 Cal Code Regs. Sections 15060(c) or 15378 because there is no potential that these activities will result in a direct or reasonably foreseeable indirect physical change in the environment, 15273 with respect to budget allocations/transfers, and/or 15262 since the activities involve only feasibility and planning for possible future actions. Even if the activities do comprise a project for CEQA analysis, they fall within the “common sense” CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3), excluding projects where “it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment.” No unusual circumstances are present.

Accordingly, no further environmental review is warranted. This determination reflects

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City Council Agenda Report
Agenda Item No. 6.c
June 10, 2025
the City’s independent judgment and analysis. Individual projects will undergo CEQA analysis as necessary.

Public Contact
The City Council Agenda was posted at City Hall and on the City’s website. Notification has been published in the East Bay Times on as required by state law.

Attachments

1. Resolution Adopting Mid-Cycle Adjusted Capital Budget for Fiscal Years (FY) 2025-2026

2. A Resolution of an Application for Funding Assigned to MTC and Committing any Necessary Matching funds and Stating Assurance to Complete the Concord Parking Management Implementation Project

3. Capital Project Budget Sheets (New and Continuing Projects with Adjustments)

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Res. No. 25-XX 1

BEFORE THE CITY COUNCIL OF THE CITY OF CONCORD

COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
A Resolution Approving the Mid-Cycle Adjusted
Capital Budget for Fiscal Year (FY) 2025-2026;
Acceptance and Appropriation of $8,848,000 of
Highway Safety Improvement Program Grant Funds
from the Federal Highway Administration; and
Authorizing the City Manager to Redistribute
Budgeted Appropriations Between Existing Similar
Capital Projects, up to $220,000 Per Project
Resolution No. 25-XX
/
WHEREAS, on May 7, 2025, the City of Concord Planning Commission determined and reported to the City Council for purposes of Government Code Sections 65401 and 65402 that the proposed public projects, street vacations, and right of way acquisitions listed in the proposed Mid- Cycle Adjusted Capital Budget (“Capital Budget”) for Fiscal Year (FY) 2025-2026 are consistent with the General Plan; and
WHEREAS, the City Manager has recommended the Mid-Cycle Adjusted Capital Budget; and
WHEREAS, the City Council, after giving all public notices required by state law and the Concord Municipal Code, held a duly noticed public hearing on June 10, 2025, on the Capital Budget, considered testimony and information received at the public hearing, the oral and written reports from City staff dated June 10, 2025, the Planning Commission General Plan consistency determination, as well as other documents contained in the record of proceedings relating to the Capital Budget, which are maintained at the offices of the City of Concord City Clerk’s Office, 1950 Parkside Drive, Concord, CA and declared their intent to approve and adopt the Capital Budget; and WHEREAS, in November 2020, the voters of Concord supported the passage of Measure V, a local transactions (sales) tax which will replace Measure Q beginning April 1, 2021. Following the approval by voters of Measure V in November, staff first presented an Investment Plan for the new ½- cent sales tax revenue at the City Council Goal Setting Workshop on February 20, 2021, and subsequently provided various debt financing options for consideration and approval by Council on Attachment 1

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Res. No. 25-XX 2
March 9, 2021; and
WHEREAS, the City Council, on June 28, 2022, approved the Five-Year Pavement Expenditure Plan update, which revised the existing Five-Year Plan to recommend additional pavement maintenance and rehabilitation projects utilizing the Measure V Investment Plan allocations; and
WHEREAS, on February 28, 2025, the City was notified that three Highway Safety Improvement Program (HSIP) applications were selected for funding during the HSIP Cycle 12 call for projects, totaling $8,848,800; and
WHEREAS, the City Council, after giving all public notices required by state law and the Concord Municipal Code, held a duly noticed public hearing on June 10, 2025, and declared their intent to approve and adopt the Capital Budget. This mid-cycle adjustment of the Capital Budget is intended to: (1) highlight accomplishments over the last year; (2) adjust and appropriate funding for new and continuing projects; (3) ensure that projects and staff are consistent with current funding, workloads, and scheduling; and (4) assure that Measure V Investment Plan revenues are appropriated to fund recommended projects, and consistent with the adopted City Council priorities; and WHEREAS, the expenditures provided in said Capital Budget, together with any revisions to it, are within the expenditure limitations imposed by Article XIII B of the California Constitution; and WHEREAS, Policy & Procedure No. 129, Budget and Fiscal Policies, which provides the concepts and processes that help protect City resources and long-term fiscal health, was amended in June 2015 to reflect the implementation of a biennial budgeting process for the Capital Budget.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CONCORD DOES RESOLVE AS FOLLOWS:

Section 1. The foregoing recitals are true and correct.

Section 2. Pursuant to the California Environmental Quality Act (CEQA) of 1970, Public Resources Code Section 21000, et. seq., as amended and implementing State CEQA Guidelines, Title 14, Chapter 3 of the California Code of Regulations (collectively “CEQA”), Council action on this item and the activities described herein do not constitute a “project within the meaning of Public Resources Code Section 21065, 14 Cal Code Regs. Sections 15060(c) or 15378 because there is no

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Res. No. 25-XX 3
potential that these activities will result in a direct or reasonably foreseeable indirect physical change in the environment, 15273 with respect to budget allocations/transfers, and/or 15262 since the activities involve only feasibility and planning for possible future actions. Even if the activities do comprise a project for CEQA analysis, they fall within the “common sense” CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3), excluding projects where “it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment.” No unusual circumstances are present. Accordingly, no further environmental review is warranted. This determination reflects the City’s independent judgment and analysis. Individual projects will undergo CEQA analysis as necessary.

Section 3. The City Council accepts the Planning Commission’s May 7, 2025, determination that the Capital Budget complies and is consistent with the goals and objectives of the General Plan.

Section 4. The City Council hereby adopts the Capital Budget for Fiscal Year 2025-2026 as modified during the public hearing. A copy of the Capital Budget as modified during the public hearing is incorporated herein by reference, is on file with the City Clerk, 1900 Parkside Drive, Concord, CA 94519, and is available at the following website:
https://www.cityofconcord.org/DocumentCenter/View/13353/Budget-Sheets-Packet .

Section 5. The City Council authorizes the City Manager to accept and appropriate $8,848,800 of Highway Safety Improvement Program (HSIP) grant funds from the Federal Highway Administration (FHWA) for three projects: TRA-26-002 ($7,004,250), TRA-26-003 ($839,250), and TRA-26-004 ($1,005,300).

Section 6. The City Manager shall be authorized to redistribute budgeted appropriations between similar capital projects (i.e. roadway to roadway; sewer to sewer). The maximum fund transfer shall be $220,000 per project. Funds may be transferred from projects from the current or previous capital budgets as long as they are between similar projects.

Section 7. This resolution shall become effective immediately upon its passage and adoption. //
//
//

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Res. No. 25-XX 4
PASSED AND ADOPTED by the City Council of the City of Concord on June 10, 2025, by the following vote:

AYES: Councilmembers -
NOES: Councilmembers -
ABSTAIN: Councilmembers -
ABSENT: Councilmembers -
I HEREBY CERTIFY that the foregoing Resolution No. 25-XX was duly and regularly adopted at a regular meeting of the City Council of the City of Concord on June 10, 2025.

Joelle Fockler, MMC
City Clerk
APPROVED AS TO FORM:

Susanne Meyer Brown
City Attorney

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BEFORE THE CITY COUNCIL OF THE CITY OF CONCORD

COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
A Resolution of an Application for Funding Assigned
to the Metropolitan Transportation Commission
(MTC) and Committing any Necessary Matching
Funds and Stating Assurance to Complete the
Concord Parking Management Implementation
Project; and Authorizing the City Manager to Accept
and Appropriates such Funds and Execute Necessary
or Appropriate Documents in a Form Acceptable to
the City Attorney
Resolution No. 25-XX
____________ /
WHEREAS, City of Concord (herein referred to as APPLICANT) is submitting an application to the Metropolitan Transportation Commission (MTC) for $435,219.69 in funding assigned to MTC for programming discretion, which includes federal funding administered by the Federal Highway Administration (FHWA) and federal or state funding administered by the California Transportation Commission (CTC) such as Surface Transportation Block Grant Program (STP) funding, Congestion Mitigation and Air Quality Improvement Program (CMAQ) funding, Carbon Reduction Program (CRP) funding, Transportation Alternatives (TA) set-aside/Active Transportation Program (ATP) funding, and Regional Transportation Improvement Program (RTIP) funding (herein collectively referred to as REGIONAL DISCRETIONARY FUNDING) for the Concord Parking Management Implementation project (herein referred to as PROJECT) for the 2024 Climate Program Implementation Parking Management (herein referred to as PROGRAM); and WHEREAS, the United States Congress from time to time enacts and amends legislation to provide funding for various transportation needs and programs, (collectively, the FEDERAL TRANSPORTATION ACT) including, but not limited to the Surface Transportation Block Grant Program (STP) (23 U.S.C. § 133), the Congestion Mitigation and Air Quality Improvement Program (CMAQ) (23 U.S.C. § 149), the Carbon Reduction Program (CRP) (23 U.S.C. § 175), and the Transportation Alternatives (TA) set-aside (23 U.S.C. § 133); and WHEREAS, state statutes, including California Streets and Highways Code §182.6, §182.7, and §2381(a)(1), and California Government Code §14527, provide various funding programs for the Attachment 2

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programming discretion of the Metropolitan Planning Organization (MPO) and the Regional Transportation Planning Agency (RTPA); and
WHEREAS, pursuant to the FEDERAL TRANSPORTATION ACT, and any regulations promulgated thereunder, eligible project sponsors wishing to receive federal or state funds for a regionally-significant project shall submit an application first with the appropriate MPO, or RTPA, as applicable, for review and inclusion in the federal Transportation Improvement Program (TIP); and WHEREAS, MTC is the MPO and RTPA for the nine counties of the San Francisco Bay region; and
WHEREAS, MTC has adopted a Regional Project Funding Delivery Policy (MTC Resolution No. 3606, revised) that sets out procedures governing the application and use of REGIONAL DISCRETIONARY FUNDING; and
WHEREAS, APPLICANT is an eligible sponsor for REGIONAL DISCRETIONARY FUNDING; and
WHEREAS, as part of the application for REGIONAL DISCRETIONARY FUNDING, MTC requires a resolution adopted by the responsible implementing agency stating the following:
• the commitment of any required matching funds; and
• that the sponsor understands that the REGIONAL DISCRETIONARY FUNDING is fixed at the programmed amount, and therefore any cost increase cannot be expected to be funded with additional REGIONAL DISCRETIONARY FUNDING; and
• that the PROJECT will comply with the procedures, delivery milestones and funding deadlines specified in the Regional Project Funding Delivery Policy (MTC Resolution No. 3606, revised); and
• the assurance of the sponsor to complete the PROJECT as described in the application, subject to environmental clearance, and if approved, as included in MTC's federal Transportation Improvement Program (TIP); and
• that the PROJECT will have adequate staffing resources to deliver and complete the PROJECT within the schedule submitted with the project application; and

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• that the PROJECT will comply with all project-specific requirements as set forth in the PROGRAM; and
• that APPLICANT has assigned, and will maintain a single point of contact for all FHWA- and CTC-funded transportation projects to coordinate within the agency and with the respective County Transportation Agency (CTA), MTC, Caltrans, FHWA, and CTC on all communications, inquires or issues that may arise during the federal programming and delivery process for all FHWA- and CTC-funded transportation and transit projects implemented by APPLICANT; and
• in the case of a transit project, the PROJECT will comply with MTC Resolution No. 3866, revised, which sets forth the requirements of MTC’s Transit Coordination Implementation Plan to more efficiently deliver transit projects in the region; and • in the case of a highway project, the PROJECT will comply with MTC Resolution No. 4104, which sets forth MTC’s Traffic Operations System (TOS) Policy to install and activate TOS elements on new major freeway projects; and
• in the case of an RTIP project, state law requires PROJECT be included in a local congestion management plan, or be consistent with the capital improvement program adopted pursuant to MTC’s funding agreement with the County Transportation Agency (CTA); and WHEREAS, that APPLICANT is authorized to submit an application for REGIONAL DISCRETIONARY FUNDING for the PROJECT; and
WHEREAS, there is no legal impediment to APPLICANT making applications for the funds; and
WHEREAS, there is no pending or threatened litigation that might in any way adversely affect the proposed PROJECT, or the ability of APPLICANT to deliver such PROJECT; and WHEREAS, APPLICANT authorizes its City Manager, Executive Director, General Manager, or designee to execute and file an application with MTC for REGIONAL DISCRETIONARY FUNDING for the PROJECT as referenced in this resolution; and WHEREAS, MTC requires that a copy of this resolution be transmitted to the MTC in

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conjunction with the filing of the application.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CONCORD DOES RESOLVE AS FOLLOWS:

Section 1. Pursuant to the California Environmental Quality Act (CEQA) of 1970, Public Resources Code Section 21000, et. seq., as amended and implementing State CEQA Guidelines, Title 14, Chapter 3 of the California Code of Regulations (collectively “CEQA”), Council action on this item and the activities described herein do not constitute a “project within the meaning of Public Resources Code Section 21065, 14 Cal Code Regs. Sections 15060(c) or 15378 because there is no potential that these activities will result in a direct or reasonably foreseeable indirect physical change in the environment, 15273 with respect to budget allocations/transfers, and/or 15262 since the activities involve only feasibility and planning for possible future actions. Even if the activities do comprise a project for CEQA analysis, they fall within the “common sense” CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3), excluding projects where “it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment.” No unusual circumstances are present. Accordingly, no further environmental review is warranted. This determination reflects the City’s independent judgment and analysis. Individual projects will undergo CEQA analysis as necessary.

Section 2. The APPLICANT is authorized to execute and file an application for funding for the PROJECT for REGIONAL DISCRETIONARY FUNDING under the FEDERAL TRANSPORTATION ACT or continued funding.

Section 3. The APPLICANT will provide any required matching funds.

Section 4. The APPLICANT understands that the REGIONAL DISCRETIONARY FUNDING for the project is fixed at the MTC approved programmed amount, and that any cost increases must be funded by the APPLICANT from other funds, and that APPLICANT does not expect any cost increases to be funded with additional REGIONAL DISCRETIONARY FUNDING.

Section 5. APPLICANT understands the funding deadlines associated with these funds and will comply with the provisions and requirements of the Regional Project Funding Delivery Policy

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(MTC Resolution No. 3606, revised) and APPLICANT has, and will retain the expertise, knowledge and resources necessary to deliver federally-funded transportation and transit projects, and has assigned, and will maintain a single point of contact for all FHWA- and CTC-funded transportation projects to coordinate within the agency and with the respective County Transportation Agency (CTA), MTC, Caltrans, FHWA, and CTC on all communications, inquires or issues that may arise during the federal programming and delivery process for all FHWA- and CTC-funded transportation and transit projects implemented by APPLICANT.

Section 6. The PROJECT will be implemented as described in the complete application and in this resolution, subject to environmental clearance, and, if approved, for the amount approved by MTC and programmed in the federal TIP.

Section 7. The APPLICANT has reviewed the PROJECT and has adequate staffing resources to deliver and complete the PROJECT within the schedule submitted with the project application.

Section 8. The PROJECT will comply with the requirements as set forth in MTC programming guidelines and project selection procedures for the PROGRAM.

Section 9. In the case of a transit project, APPLICANT agrees to comply with the requirements of MTC’s Transit Coordination Implementation Plan as set forth in MTC Resolution No. 3866, revised.

Section 10. In the case of a highway project, APPLICANT agrees to comply with the requirements of MTC’s Traffic Operations System (TOS) Policy as set forth in MTC Resolution No. 4104.

Section 11. In the case of an RTIP project, PROJECT is included in a local congestion management plan or is consistent with the capital improvement program adopted pursuant to MTC’s funding agreement with the County Transportation Agency (CTA).

Section 12. The APPLICANT is an eligible sponsor of REGIONAL DISCRETIONARY FUNDING funded projects.

Section 13. The APPLICANT is authorized to submit an application for REGIONAL DISCRETIONARY FUNDING for the PROJECT.

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Section 14. There is no legal impediment to APPLICANT making applications for the funds.

Section 15. There is no pending or threatened litigation that might in any way adversely affect the proposed PROJECT, or the ability of APPLICANT to deliver such PROJECT.

Section 16. The APPLICANT authorizes its Executive Director, General Manager, City Manager, or designee to execute and file an application with MTC for REGIONAL DISCRETIONARY FUNDING for the PROJECT as referenced in this resolution.

Section 17. A copy of this resolution will be transmitted to the MTC in conjunction with the filing of the application.

Section 18. The MTC is requested to support the application for the PROJECT described in the resolution, and if approved, to include the PROJECT in MTC's federal TIP upon submittal by the project sponsor for TIP programming.

Section 19. The City Council authorizes the City Manager to accept and appropriate any such funds and to and execute necessary or appropriate documents in a form acceptable to the City Attorney.

Section 20. This resolution shall become effective immediately upon its passage and adoption.

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PASSED AND ADOPTED by the City Council of the City of Concord on [June 10, 2025], by the following vote:

Joelle Fockler, MMC
City Clerk
APPROVED AS TO FORM:

Susanne Meyer Brown
City Attorney

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CIP Budget Sheets
For
FY 202
5-26 CIP Budget Mid-Cycle Update
June 10th, 2025

Attachment 3

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From: Barone, Valerie <[email protected]> Sent: Tuesday, June 10, 2025 11:00 AM
To: Fockler, Joelle <[email protected]>; Robinson, Monique <[email protected]>; Jory, Kit <[email protected]>; Davis, Bruce <[email protected]>; Gentry, Mindy
<[email protected]>; Tarbox, William <[email protected]>; Ezell, Justin <[email protected]>; McAuley, Wendy <[email protected]>
Subject: Nakamura Question on agenda item 6c related to CIP project # 2754

This e-mail is being shared with all Councilmembers

Laura N.,

Thank you for sending in your question.

You have inquired about a location for Project No. 2754, which is titled “Citywide Median Maintenance and Refurbishment. ” This is a holding fund account for Public Works median projects. Said another way, the City uses this account to accrue money so that funding can be made available for median needs, which include the following activities:
repairing/modernizing irrigation; replacing dead, dying, missing vegetation with appropriate (and drought resistant) landscaping; “hardening” the improvements against vandalism; and planting and adding hardscape to decrease maintenance costs. Money in this account, when there is enough of it, is used to perform projects beyond day-to-day maintenance in our median’s. It is established within the CIP so that the money does not have to be re-allocated at the end of every fiscal year. Specific medians or projects are not related to this account.

I think your question may be, “What Median projects is PWs moving forward next year?” The answer to that question is: Public Works has the following medians Benched Correspondence
Agenda Item 6.c
June 10, 2025

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programmed for work beginning towards the end of this fiscal year and next fiscal year: Treat Blvd., from the City entrance to Oak Grove; Monument Blvd., from the Bike Trail to Detroit; Concord Ave., from the City entrance to John Glenn; and Port Chicago, from Oliver to the BART Pedestrian trail.

Let me know if you have additional questions. This e-mail will be benched for tonight’s Council meeting.

Valerie

Valerie Barone, City Manager (she/her/hers)
City of Concord | Website: www.cityofconcord.org
( (925) 671-3150 | * [email protected]
1950 Parkside Drive, MS/01, Concord, CA 94519

Subscribe to our City News e-newsletter to stay informed about what's happening in your community!

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From: Nakamura, Laura <[email protected]> Sent: Monday, June 9, 2025 10:28 PM
To: Barone, Valerie <[email protected]>
Subject: CIP project 2754

Valerie,
I’m curious to know specific locations for agenda item 6c and CIP project 2754.

Thank you.

Laura

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CIP Budget MID-CYCLE
Fiscal Years 2025 & 2026
Public hearing

BRUCE DAVIS, PE, SENIOR ENGINEER
JUNE 10, 2025

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Overview
• FY 2024-2025 Accomplishments
• Upcoming Construction
• Mid-Cycle Appropriations for New
Projects
• Mid-Cycle Adjustments On-Going
Projects
2

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FY 2024-2025 Accomplishments
CIP PROJECTS COMPLETED IN FY 2024 -2025
3

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Monument Boulevard Pavement Rehabilitation
(PJ 2581) Funded By Measure V: $7,263,000
4

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Residential Pavement Maintenance Phase B
(PJ 2607/2608) Funded By Measure V, Measure J: $7,800,000 5 Before After

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Cowell Road Pothole and Base Repair
(PJ 2604) Funded By Measure V, Measure J: $1,900,000
Before After
6

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Citywide Accessibility Improvements No. 10
(PJ 2603) Funded By Federal CDBG Grant,
State Gas Tax, Measure J, Measure Q: $490,000
After
7 7
Before

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Downtown Sanitary Sewer Upgrade (PJ 2598)
Funded By Sewer Operating Fund, Measure V: $4,700,000
8

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Treat Boulevard Fiber (PJ 2656) Clayton Road Fiber (PJ 2547) Funded by Measure V, Measure Q, PEG Funds: $2,300,000
9

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Civic Center Roof and Trim
(PJ 2429) Funded By American Rescue Plan Act (ARPA),
Measure Q, Measure V, Building Maint Fund: $9,300,000
Before After
10

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Facilities Maintenance Projects
Funded by Measure V, Building Maint Fund: $1,700,000
11 Willow Pass CC
Exterior Paint (PJ 2568)
Corp Yard Roof
(PJ 2659)

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Upcoming Projects
Clayton Road Pavement Rehabilitation
Concord Boulevard Pavement Maintenance
Willow Pass Road Repaving
Street Maintenance No. 1 (Bailey Road)
Residential Paving Phases C, D, E, F
Civic Center Greening
Transportation Offices
www.cityofconcord.org/cip
12

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Mid-Cycle
New Projects

APPROPRIATION AND ALLOCATION OF FUNDS TO

NEW PROJECTS
13

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New Transportation Projects (5)
$9.5M Total Grants
Citywide Traffic Sign Upgrade
(TRA-26-002)
◦ HSIP Grant $7,004,250
Signal Modification Olivera Rd &
Grant St (TRA-26-003)
◦ HSIP Grant $839,250
Traffic Safety Improvements at
Various Locations (TRA-26-004)
◦ HSIP Grant $1,005,300
14 Citywide LED Signal Indication
Upgrade (TRA-26-001)
◦ Federal Block Grant
$170,110
Downtown Parking
Implementation
(TRA-26-005)
◦ MTC Grant $435,220

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New Facilities Maintenance Project
Concord Community Pool Boiler
Replacement (PW-26-001)
◦ Replace (4) boilers for pool water
heating
◦ Building Maintenance Holding
Account (PJ 2592) $288,000
15

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Mid-Cycle Adjustments

MEASURE V BUDGET TRANSFERS AND APPROPRIATION

OF FUNDS TO ON -GOING PROJECTS
16

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Measure V Budget Transfers
Table 1 on Staff Report
◦ Accelerate Measure V Bond
spending
◦ Does not change the scope or
timing of Projects
17

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Budget Transfers for Continuing Projects
18 Parks Projects (3)
◦ Urban Forest Management
(PJ 2673)
◦ Citywide Irrigation
(PJ 2756)
◦ Citywide Median Maintenance
(PJ 2754)
Funds transferred from
completed or postponed projects
Transportation Projects (2)
◦ Citywide Traffic System
Upgrade (PJ 2574)
◦ Market Street Undergrounding
(PJ 2111)

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Recommended Actions
◦ Resolution adopting the Mid-
Cycle CIP Budget Adjustments
for Fiscal Year 2025-2026
◦ Resolution in support of an
MTC Grant Application
19

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Correspondence received at meeting
Agenda Item No. 7.a

7.a

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Concord City CouncilJune 10, 2025

Concord City Council
June 10, 2025