CC 03-19-2024 Searchable Packet.pdf — Cupertino City Council, March 19, 2024 (part 5 of 5)

PENDERGAST
AVE
0 375 25 005 18625 RALYA CT 0
375 40 042 19181 PHIL LN 0
375 29 052 18720 HANNA DR 0
375 23 034 10526 STERLING
BLVD 0
598
CC 03-19-2024
598 of 721
Table A2
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units 11 12
Current APN Street Address Project Name+
Very Low-
Income Deed
Restricted
Very Low-
Income Non
Deed
Restricted
Low- Income
Deed
Restricted
Low- Income
Non Deed
Restricted
Moderate-
Income Deed
Restricted
Moderate-
Income Non
Deed Restricted
Above
Moderate-
Income
Certificates of
Occupancy or other
forms of readiness
(see instructions) Date
Issued
# of Units issued
Certificates of
Occupancy or
other forms of
readiness
Affordability by Household Incomes - Certificates of Occupancy 10 Project Identifier
375 33 063 18901 TUGGLE
AVE 0
326 49 015 10631 STOKES
AVE 0
375 19 023 10140 CALVERT
DR 0
375 07 042 10080 S TANTAU
AVE 0
362 04 047 7922 WOODLARK
WAY 0
375 08 029 19161 TILSON AVE 0
375 32 040 10683 MINETTE PL 0
326 30 005 20941 ALVES DR 0
359 19 043 7540 MCCLELLAN
RD 0
326 08 042 10682 FLORA
VISTA AVE 0
316 35 003 19651 MERRITT
DR 0
359 19 005 10567 JOHN WA 0
375 17 012 10320
WUNDERLICH DR 0
326 02 021 22091 HIBISCUS
CT 0
359 06 014 902 SAGE CT 0
369 09 046 19721 BIXBY DR 0
599
CC 03-19-2024
599 of 721
Table A2
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
3 92
326 28 031 10345 Ann Arbor
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 326 28 031 10345 Ann Arbor
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
357 16 162 10104 Byrne Ave 0N O N E Y 1 Demolished O
357 16 162 10104 Byrne Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 359 11 019 20600 Rodrigues
Ave 0N O N E Y 1 Demolished O
359 11 019 20600 Rodrigues
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 326 47 049 10396 Noel
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 369 23 051 10810 S Blaney
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 362 13 014 7929 Festival
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 362 13 014 7929 Festival 0N O N E Y 1 Demolished O
342 14 040 10228 Lockwood
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 359 10 058 20713 Rodrigues
Ave 0N O N E Y 1 Demolished O
359 10 058 20713 Rodrigues
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 29 046 18782 Hanna 0N O N E Y 1 Demolished O
375 29 046 18782 Hanna
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 600
CC 03-19-2024
600 of 721
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 369 29 040 10397 Las Ondas
Way
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 366 18 043 1318 Flower 0N O N E Y 1 Demolished O
366 18 043 1318 Flower
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 24 005 10408 Sterling Blvd 0N O N E Y 1 Demolished O 375 24 005 10408 Sterling Blvd
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 357 04 029 10485 Scenic 0N O N E Y 1 Demolished O
357 04 029 10485 Scenic
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 11 004 10176 Judy Ave 0N O N E Y 1 Demolished O
375 11 004 10176 Judy Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 35 035 5905 Sutton Park
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 14 003 10285 Moretti Dr
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 28 015 10621 Gascoigne
Dr 0N O N E Y 1 Demolished O
375 28 015 10621 Gascoigne
Dr
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 13 021 18811 Loree Ave 0N O N E Y 1 Demolished O
375 13 021 18811 Loree Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 326 19 081 21852 Monte Ct
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 601
CC 03-19-2024
601 of 721
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 326 30 103 10511 Glencoe Dr
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 22 024 10618 Gascoigne
Dr 0N O N E Y 1 Demolished O
375 22 024 10618 Gascoigne
Dr
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 11 045 10054 Bret
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 342 14 001 22782 Stevens
Creek
0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 316 33 025 10355 Plum Tree
Ln
0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 14 004 10295 Moretti Dr 0N O N E Y 1 Demolished O 375 14 004 10295 Moretti Dr
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 316 34 019 10573 Cedar Tree
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 316 26 062 10234 Parlett
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 10 007 10348 Judy Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 357 19 096 10380 Imperial Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 342 61 022 10547 Manzanita
Ct
0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 25 007 18645 Ralya Ct 0N O N E Y 1 Demolished O
602
CC 03-19-2024
602 of 721
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 375 25 007 18645 Ralya Ct
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 362 24 054 1197 Candlelight
Way
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 342 58 012 22179 Hammond
Way
0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 27 042 18750 Barnhart
Ave 0N O N E Y 1 Demolished O
375 27 042 18750 Barnhart
Ave
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 359 26 037 7480 De La Farge
Dr 0N O N E Y 1 Demolished O
359 26 037 7480 De La Farge
Dr
0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 357 02 046
10419 Mira Vista
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 326 41 019
21308 Rumford
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 326 41 059
10468 Anson
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 362 25 016
7675 Shadowhill Ln
0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 ans 2024
30/30/30/10
0 316 28 023 10185 Denison 0N O N E Y 0
375 19 017 18745 Loree Ave 0 NONE Y 1 Demolished O
375 19 017 18745 Loree Ave 0 NONE Y 0
375 19 021 10160 Calvert 0 NONE Y 0
342 29 011 10472 Lockwood
Dr 0N O N E Y 0
375 14 013 10385 Moretti Dr 0 NONE Y 1 Demolished O
326 28 094 10395 N Stelling
Rd 0N O N E Y 1 Demolished O
375 19 008 18655 Loree Ave 0 NONE Y 1 Demolished O
357 14 020 10455 Orange Ave 0 NONE Y 1 Demolished O
375 11 026 10135 Bret Ave 0 NONE Y 1 Demolished O
603
CC 03-19-2024
603 of 721
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 359 13 016 10459 Bonny Dr 0 NONE Y 1 Demolished O
369 21 027 10826 Brookwell 0 NONE Y 1 Demolished O
375 11 043 10080 Bret Ave 0 NONE Y 1 Demolished O
375 17 047 10481 Johnson 0N ONE Y 1 Demolished O
375 08 053 10395 Judy Ave 0 NONE Y 1 Demolished O
375 33 028 18881 Pendergast
Ave 0N O N E Y 1 Demolished O
359 18 047 20565 Kirwin Ln 0 NONE Y 1 Demolished O
369 27 032 858 Betlin Ave 0 NONE Y 1 Demolished O
362 11 018 1202 Stafford Dr 0 NONE Y 1 Demolished O
375 17 001 10430 Wunderlich
Dr 0N O N E Y 1 Demolished O
369 27 050 879 Bette Ave 0 NONE Y 1 Demolished O
357 15 083 21841 Alcazar Ave 0N O N E Y 1 Demolished O
362 18 008 7752 Orion Lane 0 NONE Y 1 Demolished O
362 18 008 7752 Orion Lane 0 NONE Y 0
362 18 008 7752 Orion Lane 0 NONE Y 0
362 18 008 7752 Orion Lane 0 NONE Y 0
366-10-061, -126 1655 S De Anza
Blvd Coach House 0 NONE Y DB 99 years 0 36.0% 2
Development
Standards
Modification
Yes
366-10-061, -126 1655 S De Anza
Blvd Coach House 3 NONE Y DB 99 years 0 36.0% 2
Development
Standards
Modification
Yes
326 27 043 21563 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21561 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21559 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21557 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21553 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21551 POINT
REYES TER Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21511 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21509 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21507 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21505 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21503 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
326 27 043 21501 DANA
POINT LN Westport 0 NONE Y DB 99 years 0 9.2% 3
Development
Standards
Modification
Yes
362 06 036 11226 BUBB RD 0 NONE Y Demolished O
375 35 054 19040 MEIGGS LN 0 NONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
604
CC 03-19-2024
604 of 721
Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 359 32 036 7439 STANFORD
PL 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
359 13 136 10476/10478 S
STELLING RD 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
359 13 137 10400/10468 S
STELLING RD 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 37 038 19040 BARNHART
AVE 0N O N E Y 1 Demolished O
326 28 066 21076 GRENOLA
DR 0N O N E Y 1 Demolished O
342 14 095 10116 PRADO
VISTA DR 0N ONE Y 1 Demolished O
326 28 088 10481 N
STELLING RD 0N ONE Y 1 Demolished O
375 07 042 10080 S TANTAU
AVE 0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 16 053 18831 BARNHART
AVE 0N O N E Y 1 Demolished O
375 04 010 19375 CALLE DE
BARCELONA 0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
342 14 040 10222
LOCKWOOD DR 0N ONE Y 1 Demolished O
375 18 044 10409 JOHNSON
AVE 0N ONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 11 011 10080 Judy Ave 0 NONE Y 1 Demolished O
326 31 005 20966 Alves Drive 0 NONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
366 17 057 7632 Normandy
Way 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 35 055 19030 Meiggs Lane 0 NONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 29 034 18751 NEWSOM
AVE 0N O N E Y 1 Demolished O
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Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 356 14 024 21900 RUCKER
DR 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
0 375 28 011 10589 Gascoigne
Dr 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
1 Demolished O
375 11 031 10205 Bret Ave 0 NONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 26 058 18630 CRABTREE
AVE 0N O N E Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 37 020 10524 S. Tantau
Ave 0N O N E Y 1 Demolished O
375 07 008 10081 S. Tantau 0 NONE Y
ADU affordability assumptions
from ABAG’s ADU affordability
methodology for the Annual
Progress Reports covering
calendar year 2023 and 2024
30/30/30/10
1 Demolished O
375 35 050 19080 Meiggs Ln 0 NONE Y 1 Demolished O
326 43 042 10692 PEBBLE 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
369 05 022 10153 DEEPROSE 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
369 21 027 10828
BROOKWELL 0N O N E Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
375 11 022 10083 BRET Ave 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
369 11 004 10395 LANSDALE 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
375 25 049 18689 CRABTREE 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
375 25 049 18689 CRABTREE 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
316 24 016 10201 RANDY 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
326 49 015 10633 STOKES 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
326 49 015 10633 STOKES 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
369 16 024 10569 MILLER
AVE 0N O N E Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
316 30 055 10572 CYPRESS 0 NONE Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
342 14 094 10134 PRADO
VISTA 0N O N E Y
New ADU Building permit Issued
2023
ABAG 30/30/30/10
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Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

PENDERGAST
AVE
0N O N E Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 25 005 18625 RALYA CT 0 NONE Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 40 042 19181 PHIL LN 0 NONE Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 29 052 18720 HANNA DR 0 NONE Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 23 034 10526 STERLING
BLVD 0N O N E Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 33 063 18901 TUGGLE
AVE 0N O N E Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
326 49 015 10631 STOKES
AVE 0N O N E Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 19 023 10140 CALVERT
DR 0N O N E Y
New SFD & ADU Bldg. permit
Issued 2023
ABAG 30/30/30/10
1 Demolished O
375 07 042 10080 S TANTAU
AVE 0N O N E Y 1 Demolished O
362 04 047 7922 WOODLARK
WAY 0N O N E Y 1 Demolished O
375 08 029 19161 TILSON
AVE 0N O N E Y 1 Demolished O
375 32 040 10683 MINETTE
PL 0N O N E Y 1 Demolished O
326 30 005 20941 ALVES DR 0 NONE Y 1 Demolished O
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Annual Building Activity Report Summary - New Construction, Entitled, Permits and Completed Units Streamlining Infill
Housing without Financial
Assistance or Deed
Restrictions
Term of Affordability
or Deed Restriction
13 14 15 16 17 18 19 20 21 22 23 24
Current APN Street Address Project Name+
How many of the
units were
Extremely Low
Income?
Please select the
streamlining
provision the
project was

APPROVED
pursuant to. (may
select multiple)
Infill Units?
Y/N+
Assistance Programs
for Each Development
(may select multiple -
see instructions)
Deed Restriction
Type
(may select multiple
- see instructions)
For units affordable without
financial assistance or deed
restrictions, explain how the
locality determined the units
were affordable
(see instructions)
Term of Affordability or
Deed Restriction (years)
(if affordable in perpetuity
enter 1000)+
Number of
Demolished/Destroyed
Units
Demolished or
Destroyed Units
Demolished/De
stroyed Units
Owner or
Renter
Total Density Bonus Applied
to the Project (Percentage
Increase in Total Allowable
Units or Total Maximum
Allowable Residential Gross
Floor Area)
Number of Other
Incentives,
Concessions, Waivers,
or Other Modifications
Given to the Project
(Excluding Parking
Waivers or Parking
Reductions)
List the incentives,
concessions,
waivers, and
modifications
(Excluding Parking
Waivers or Parking
Modifications)
Did the project receive a
reduction or waiver of
parking standards? (Y/N)
Housing with Financial Assistance
and/or Deed Restrictions Demolished/Destroyed Units Density BonusProject Identifier 359 19 043 7540 MCCLELLAN
RD 0N O N E Y 1 Demolished O
326 08 042 10682 FLORA
VISTA AVE 0N O N E Y 1 Demolished O
316 35 003 19651 MERRITT
DR 0N O N E Y 1 Demolished O
359 19 005 10567 JOHN WA 0 NONE Y 1 Demolished O
375 17 012 10320
WUNDERLICH DR 0N O N E Y 1 Demolished O
326 02 021 22091 HIBISCUS
CT 0N O N E Y 1 Demolished O
359 06 014 902 SAGE CT 0 NONE Y 1 Demolished O
369 09 046 19721 BIXBY DR 0 NONE Y 1 Demolished O
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Reporting Year 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Planning Period 6th Cycle 01/31/2023 - 01/31/2031
1 Projection Period 34
RHNA Allocation by
Income Level
Projection Period -
06/30/2022-
01/30/2023
2023 2024 2025 2026 2027 2028 2029 2030 2031 Total Units to Date (all years)
Total Remaining
RHNA by Income
Level
Deed Restricted - - - - - - - - - - Non-Deed Restricted - 10 - - - - - - - - Deed Restricted - - - - - - - - - - Non-Deed Restricted 2 8 - - - - - - - - Deed Restricted 1 - - - - - - - - - Non-Deed Restricted 19 9 - - - - - - - - Above Moderate 1,953 92 36 - - - - - - - - 128 1,825 4,588
114 63 - - - - - - - - 177 4,411 5 67
Extremely low-Income
Need 2023 2024 2025 2026 2027 2028 2029 2030 2031 Total Units to Date
Total Units
Remaining
597 - - - - - - - - - - 597 677
Total RHNA
Total Units
Income Level
Very Low
Low
Extremely Low-Income Units*
Progress toward extremely low-income housing need, as determined pursuant to Government Code 65583(a)(1). 726
10 This table is auto-populated once you enter your jurisdiction name and current year data. Past year information comes from previous APRs.
29 Moderate
1,193
687
755
Please contact HCD if your data is different than the material supplied here 10 2
Table B
Regional Housing Needs Allocation Progress
Permitted Units Issued by Affordability
1,183
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Reporting Year 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Planning Period 6th Cycle 01/31/2023 - 01/31/2031
Date of Rezone Rezone Type
2 4567 9 1 0 1 1
APN Street Address Project Name+
Local
Jurisdiction
Tracking ID+
Date of Rezone Very Low-
Income Low-Income Moderate-Income Above Moderate-
Income
Rezone Type Parcel Size
(Acres)
General Plan
Designation Zoning Minimum
Density Allowed
Maximum
Density Allowed
Realistic
Capacity Vacant/Nonvacant Description of Existing
Uses
Note: "+" indicates an optional field
Cells in grey contain auto-calculation formulas
Summary Row: Start Data Entry Below
83 Project Identifier RHNA Shortfall by Household Income Category Sites Description 1 Sites Identified or Rezoned to Accommodate Shortfall Housing Need and No Net-Loss Law Table C
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation Land Use Policy and
Zoning Provisions
Accommodate the Regional Housing
Needs Allocation (RHNA). Ongoing: 2014-2022
The City continued to provide adequate capacity through the Land Use Element and Zoning Ordinance to accommodate the RHNA allocation, monitor development standards, monitor sites inventory, and monitor development activity on Housing Opportunity Sites. City is currently working on the 6th Cycle of the Housing Element.

Second Dwelling Units
Continue to implement the Accessory
Dwelling Unit (ADU) Ordinance (or
Second Dwelling Unit Ordinance) and
encourage the production of second
units.

Ongoing: 2014-2022
The City annually updated the Ordinance to comply with State law and established a program to streamline the ADU review and production process as part of the City 2020-21 work program. In 2021, the City created a pre-approved ADU program to further incentivize the creation of ADUs. In 2023, the City issued 50 building permits for ADUs.

Lot Consolidation Facilitate residential and mixed used developments. Ongoing: 2014-2022
In 2023, the City continued to encourage lot consolidation when contiguous smaller, underutilized parcels are to be redeveloped, and provided technical assistance to property owners of adjacent parcels to coordinate redevelopment where appropriate. Encourage master plans for such sites with coordinated access and circulation. Provide technical assistance to property owners of adjacent parcels to facilitate coordinated redevelopment where appropriate.

Encourage intra- and inter-agency cooperation in working with applicants.

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 611
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Flexible Development
Standards
Encourage a range of housing options
in the community. Ongoing: 2014-2022
The City continued to offer flexible residential development standards in planned residential zoning districts and consider granting reductions in off-street parking for senior housing. The Westport Project (2020) and Marina Plaza project (2022) were approved with waivers, an incentive to development standards, and a reduction in parking standards. Both projects are located within the Heart of the City Specific Plan and on a Housing Element site. In 2022, Canyon Crossing, with 18 townhome and apartments, and Alan Row with 9 townhomes and a JADU, were both approved using density bonus. In 2023, the City approved one project (Coachhouse) and reviewed another (Bianchi Lane) both of which utilized state density bonus law, specifically the waivers section of the law.

Heart of the City Specific
Plan
Reduce constraints to housing
development and ensure that the
designated sites can obtain the realistic
capacity shown in the Housing
Element.

Ongoing: 2014-2022
The Heart of the City Specific Plan was completed in May 2015.

Office and Industrial
Housing Mitigation
Program
Continue to implement the Office and
Industrial Housing Mitigation Program
which requires that developers of
office, commercial, and industrial space
pay a mitigation fee which will then be
used to support affordable housing in
the City.

Ongoing: 2014-2022
To help offset the loss of land, the City continued to implement the Office and Industrial Housing Mitigation Program. The City requires developers of office, commercial, and industrial space to pay a mitigation fee to support affordable housing. Mitigated fees are collected and deposited into the City's BMR Affordable Housing Fund (AHF) for the following fiscal years (FY) the following mitigation fees were collected and deposited and in the BMR AFH fund. In 2023, there was $175,873.48 in BMR AHF funds collected.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Residential Housing
Mitigation Program
Continue to implement the Residential
Housing Mitigation Program to mitigate
the need for affordable housing created
by new market-rate residential
development.

Ongoing: 2014-2022
The City continued to implement the Residential Housing Mitigation Program.

The program applies to new residential development and includes the provision of BMR units or the payment of the "Housing Mitigation" fee. The BMR Linkage Fees Update study was completed and adopted by City Council on May 19, 2020, which included an increased requirement of 15%-20% for inclusionary ownership projects. In 2023, the BMR AHF provided funding to the following affordable housing projects, strategies, and services:
•BMR Program Administration - 4 BMR ownership resales and 13 BMR rental turnovers
•Fair housing services - $50,000 to Project Sentinel
•$126,397.42 to the Homeless Jobs Program
Below Market Rate (BMR)
Affordable Housing Fund
(AHF)
Continue to support affordable housing
projects, strategies, and services,
including but not limited to: BMR
program administration, substantial
rehabilitation, land acquisition,
acquisition of buildings for permanent
affordability, new construction,
preserving "at-risk" BMR units, rental
operating subsidies, down payment
assistance, land write-downs, direct
gap financing, and fair housing.

Ongoing: 2014-2022
The City continued to maintain the BMR AHF, and provided ongoing technical assistance to nonprofits/developers, including providing data and information on properties for sale to nonprofit partners and developers for their consideration.

The City's FY 23-24 BMR AHF Request for Proposal (RFP) was open November 2022-February 2023. In 2023, the BMR AHF provided funding to the following affordable housing projects, strategies, and services:
•BMR Program Administration - 4 BMR ownership resales and 13 BMR rental turnovers
•Fair housing services - $50,000 to Project Sentinel
•$126,397.42 to the Homeless Jobs Program
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Housing Resources
Provide information on housing
resources and services offered by the
County and other outside agencies to
Cupertino residents and developers
interested in providing affordable
housing.

Ongoing: 2014-2022
In 2023, the City provided information on housing resources and services to:
•County Measure A Affordable Housing Bond
•County Mortgage Credit Certificate
•Housing Trust Silicon Valley First-Time Homebuyer Assistance and Developer Loans
•Project Sentinel Fair Housing Services
•Housing Authority Section 8 Vouchers
•West Valley Community Services
In addition, the City worked with nonprofit organizations in providing programs and services for low-income households and private industry, in particular financial and development groups, to encourage the development of affordable housing opportunities regionally and in the city (see Program HE-2.3.3). The City provided technical assistance to the public service agencies it funded. The City coordinated with a number of groups to engage in discussions about grant funding opportunities, regional housing needs, and efforts to address homelessness. The City participated in the following groups: Santa Clara County PLHA Consortium, Regional CDBG/Housing Coordinators Group, and West Valley Collaboration group. The participants in these groups, including the City, work together to pool their knowledge and share expertise. The County’s Office of Supportive Housing helps to coordinate these efforts and provides the participants with invaluable technical assistance. Through the SCC PLHA Consortium, the City was awarded an allocation of PLHA funding and is currently working towards implementing the funding for projects in Cupertino.

The City continued to support the WVCS Homeless Jobs Program which assists two unhoused Cupertino residernts per year, plus their families by extension.

The City Council did not prioritize the Plan to End Homelessness for the FY 2023-25 City Work Program. This item was concluded, and no final version of 614
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Surplus Properties for
Housing
Explore opportunities on surplus
properties. Ongoing: 2014-2022
The City worked with local public agencies, school districts, and churches to identify surplus properties that have the potential for residential development.

There were no surplus properties available from any school districts or churches for the City to pursue. The City continued to support the Rotating Safe Car Park (RSCP) program on church property. The City has seen an interest from St.

Jude's Church for a development of a portion of their property with affordable housing. The City is working on rezoning this property to accommodate the development that they envision as part of the 6th Cycle Housing Element update.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Incentives for Affordable
Housing Development
Continue to offer a range of incentives
to facilitate the development of
affordable housing.

Ongoing: 2014-2022
In 2023, the City offered a range of financial assistance through the City’s BMR AHF, by partnering with CDBG. $88,966 in CDBG funds was provided to Rebuilding Together Silicon Valley, a low-income housing repair and rehabilitation program. To incentivize affordable housing development, the City supported the funding application of qualified affordable housing developers for regional, state, and federal affordable housing funds, density bonus incentives, flexible development standards, technical assistance, waiver of park dedication fees and construction tax, parking ordinance waivers, and expedited permit processing.

The City coordinated with a number of groups to engage in discussions about grant funding opportunities, regional housing needs, and efforts to address homelessness. The City participated in the following groups: Santa Clara County PLHA Consortium, Regional CDBG/Housing Coordinators Group, and West Valley Collaboration group. The participants in these groups, including the City, work together to pool their knowledge and share expertise. The County’s Office of Supportive Housing helps to coordinate these efforts and provides the participants with invaluable technical assistance. Through the SCC PLHA Consortium, the City was awarded an allocation of PLHA funding and is currently working towards implementing the funding for projects in Cupertino.

Density Bonus Ordinance
Encourage the use of density bonuses
and incentives for housing
developments.

Ongoing: 2014-2022
All the sites listed in the 5th cycle table with the exception of (APNs: 316-06- 059, 316-06-060, and 316-06 -058) have been awarded density bonuses, incentives, waivers, and/or reduction in parking standards. They were approved by the City between 2016 and 2022.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Extremely Low-Income
Housing and Housing for
Persons with Special
Needs
Continue to encourage the
development of adequate housing to
meet the needs of extremely low-
income households and person with
special needs.

Ongoing: 2014-2022
The City continued to provide financing assistance using the BMR AHF and CDBG funds. The City coordinated with a number of groups to engage in discussions about grant funding opportunities, regional housing needs, and efforts to address homelessness. The City participated in the following groups:

Santa Clara County PLHA Consortium, Regional CDBG/Housing Coordinators Group. The participants in these groups, including the City, work together to pool their knowledge and share expertise. The County’s Office of Supportive Housing helps to coordinate these efforts and provides the participants with invaluable technical assistance. Through the SCC PLHA Consortium, the City was awarded an allocation of PLHA funding and is currently working towards implementing the funding for projects in Cupertino. In addition, the City provides technical assistance to the public service agencies it funds. The City also participates in the Santa Clara County HOME Consortium. The City worked with nonprofits and developers to review the feasibility of residential uses on two potential affordable housing sites (Mary Avenue). The City issued an RFP (request for proposals) for the site and received interest from one developer.

Employee Housing Permit employee housing in multiple
zoning districts. Ongoing: 2014-2022
The City amended the zoning code in 2014 to allow employee housing in multiple zoning districts. In 2023, the City continued to implement the City's zoning code to allow employee housing in multiple zoning districts. The Zoning Ordinance is regularly updated to comply with state law.

Residential Rehabilitation
Continue to utilize BMR AHF and
CDBG funds to support residential
rehabilitation efforts in the community.

Ongoing: 2014-2022
The City utilized CDBG funds to rehabilitate owner-occupied housing. In 2023, the following CDBG funds were provided to the following rehabilitation efforts:
• $88,966 in CDBG funds were provided to Rebuilding Together Silicon Valley for a low-income housing repair and rehabilitation program that assisted 4 low- income Cupertino households.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Preservation of At-Risk
Housing Units
Proactively contact the property owner
of Beardon Drive, a housing project
considered at risk of converting to
market-rate housing, regarding its
intent to remain or opt out of the
affordable program.

Ongoing: 2014-2022
In the event the project becomes at risk of converting to market-rate housing, the City will work with the property owner or other interested nonprofit housing providers to preserve the eight units. In 2019, as part of the BMR AHF program, the owner of Beardon Drive paid off the City's CDBG loan and indicated that the 8 units making up the property would continue to operate as affordable housing.

Condominium Conversion
Regulate the conversion of rental units
in multi-family housing development in
order to preserve the rental housing
stock.

Ongoing: 2014-2022
The City continued to monitor the effectiveness of this ordinance by providing opportunities for homeownership while preserving a balanced housing stock with rental housing.

Housing Preservation
Program
Grant approval of proposed
developments or redevelopments on if
the project will comply with the City's
BMR program, the number of units
provided on site is at least equal to the
number of existing units, and adverse
impacts on displaced tenants (four or
more units) are mitigated.

Ongoing: 2014-2022
The City continued to participate in studies of regional housing need and displacement, and consider policies or programs to address the indirect displacement of low-income residents as appropriate.

Neighborhood and
Community Clean-Up
Campaigns
Continue to encourage and sponsor
neighborhood and community clean-up
campaigns for both public and private
properties.

Ongoing: 2014-2022
The City continued to encourage and sponsor neighborhood and community clean-up campaigns for both public and private properties. The City promotes and staffs the following events available to the community:
•Recology provides quarterly drop-off events for bulky items, construction waste, landscape waste, and hazardous waste (due to COVID, the quarterly events were cancelled and resumed in mid-2021).
•The City staffs two annual creek clean ups- National River Clean Up Day and Coastal Clean Up Day.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Enforcement of Title 24
Continue to enforce Title 24
requirements for energy conservation
and evaluate utilizing some of the other
suggestions as identified in the
Environmental
Resources/Sustainability element.

Ongoing: 2014-2022
The City continued to enforce Title 24 requirements for energy conservation and evaluate using some of the other suggestions as identified in the Environmental Resources/Sustainability element. In 2020, the City adopted REACH codes, which were further amended in 2022, that will assist in achieving the City's sustainability goals. The City has Chapter 16.58, Green Building Standards Code, that requires certain projects to achieve LEED certification or similar.

Sustainable Practices
Continue to implement the Landscape
Ordinance for water conservation and
the Green Building Ordinance that
applies primarily to new residential and
nonresidential development, additions,
renovations, and tenant improvements
of ten or more units.

Ongoing: 2014-2022
The City continued to the implement the Landscape Ordinance, Green Building Ordinance, and the City's Climate Action Plan, including evaluating the potential to provide incentives for energy conservation improvements at affordable housing projects (e.g. waiving or reducing fees,) and continue to implement the policies in the climate action plan. Continue to implement the Energy efficiency reach codes that include requirements for electrification for certain types of buildings, water efficiency, and green materials to reduce energy use and lower greenhouse gas emissions. These codes include reach codes which are a component of the California Energy and California Green Building Codes and include requirements for water efficiency, green materials, and other items designed to encourage building electrification for certain types of buildings.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Emergency Shelters
Continue to facilitate housing
opportunities for special needs persons
by allowing emergency shelters as a
permitted use in the "BQ" Quasi-Public
zoning district.

Ongoing: 2014-2022
The City continued to facilitate housing opportunities for special-needs groups by allowing emergency shelters as a permitted use in the "BQ" Quasi-Public Building zoning district. In 2021, the City established the City Unhoused Task Force to address the needs of unhoused residents through resource referral and partnered with the West Valley Rotating Safe Car Park (RSCP) program.

The RSCP program is an emergency homeless program made up of a network of local city governments, service organizations, and volunteer faith-based host sites that provide temporary overnight parking for homeless individuals/families living out of their cars. The RSCP program is still active, and there is a maximum of 30 people at a time per safe parking site. The same year, the City created a pilot Homeless Jobs Program with two Cupertino unhoused residents participating in the program. The RSCP, Unhoused Task Force, and Homeless Jobs Program continued in 2023.

The City Work Program is renewed on an annual basis by the City Council, and contains a variety of different projects, one of which being the City Plan To End Homelessness. The City Council did not prioritize the Plan To End Homelessness for the FY 2023-25 City Work Program. This item was concluded, and no final version of the Plan was created. Unused funds will be returned to the General Fund.
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Supportive Services for
Lower-Income
Households and Persons
with Special Needs
Continue to utilize the BMR AHF,
CDBG, and General Fund Human
Services Grants (HSG) funds to
provide for a range of supportive
services for lower-income households
and persons with special needs.

Ongoing: 2014-2022
In 2023, the City took various steps to provide supportive services for lower- income households and persons with special needs, including:
•Continuing the City Unhoused Task Force to address the needs of unhoused residents.
•CDBG $21,405.76 to Live Oak Adult Day Services, a senior adult day care. •CDBG $38,054.69 to West Valley Community Services (WVCS) CARE Program, a community access to resource and education program. •HSG $10,000 to Catholic Charities of Santa Clara County, a long-term care ombudsman program.
•HSG $25,000 to Maitri, a transitional housing direct client services program. •HSG $15,000 to Senior Adult Legal Assistance, a legal assistance to elders program.
•HSG $65,780 to WVCS Haven to Home program, a supportive services and housing resources program for the homeless.
•The City continued to oversee the WVCS Homeless Jobs Program which provides up to eight months of employment and job training for two unhoused residents in Cupertino.

Rotating Homeless
Shelter
Continue to support the operation of a
rotating homeless shelter. Ongoing: 2014-2022
In 2023, the City continued partnering with the Rotating Safe Car Park (RSCP) program. The RSCP program is an emergency homeless program made up of a network of local city governments, service organizations, and volunteer faith- based host sites that provide temporary overnight parking for homeless individuals/families living out of their cars. In addition, through $65,780 in CDBG funding to the WVCS Haven To Home Program, the City assisted 79 households by providing services to prevent homelessness. 621
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
123 4
Name of Program Objective Timeframe in H.E Status of Program Implementation

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Housing Programs Progress Report
Table D
Program Implementation Status pursuant to GC Section 65583 Fair Housing Services
Continue to provide fair housing
services, retain a fair housing service
provider, coordinate efforts with the
County Fair Housing Consortium, and
distribute fair housing materials at
public counters/events.

Ongoing: 2014-2022
The City continued to provide fair housing services including outreach, education, counseling, and investigation of fair housing complaints. In 2023, BMR AHF funds were provided to the following fair housing services:
•$50,000 to Project Sentinel, a landlord/tenant rental mediation program and fair housing program.

Coordination with Outside
Agencies and
Organizations
Partner with outside agencies and
organizations in addressing local and
regional housing needs.

Ongoing: 2014-2022
The City coordinated with these groups to engage in discussions about grant funding opportunities, regional housing needs, and efforts to address homelessness. The City participated in the following groups: Santa Clara County PLHA Consortium, Regional CDBG/Housing Coordinators Group, and the US Department of Housing and Urban Development, among others. The participants in these groups, including the City, work together to pool their knowledge and share expertise. The County’s Office of Supportive Housing helps to coordinate these efforts and provides the participants with invaluable technical assistance. Through the SCC PLHA Consortium, the City was awarded an allocation of PLHA funding and is currently working towards implementing the funding for projects in Cupertino. The City Council did not prioritize the Plan To End Homelessness for the Fiscal Year 2023-25 City Work Program. This item was concluded, and no final version of the Plan was created. The unused funds will be returned to the General Fund. 622
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Reporting Period 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Planning Period 6th Cycle 01/31/2023 - 01/31/2031
Description of Commercial
Development Bonus
Commercial Development Bonus
Date Approved
34 APN Street Address Project Name+ Local Jurisdiction
Tracking ID+
Very Low
Income
Low
Income
Moderate
Income
Above Moderate
Income
Description of Commercial
Development Bonus
Commercial Development Bonus
Date Approved
Summary Row: Start Data Entry Below
Units Constructed as Part of Agreement
Commercial Development Bonus Approved pursuant to GC Section 65915.7 Table E
Note: "+" indicates an optional field
Project Identifier
1 2
Cells in grey contain auto-calculation
formulas
(CCR Title 25 §6202)
Annual Progress Report January 2020
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT Note: "+" indicates an optional field Reporting Period 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Cells in grey contain auto-calculation formulas Planning Period 6th Cycle 01/31/2023 - 01/31/2031
The description should adequately document how
each unit complies with subsection (c) of Government
Code Section 65583.1+.

For detailed reporting requirements, see the chcklist
here:

Extremely Low-
Income+ Very Low-Income+ Low-Income+ TOTAL UNITS+
Extremely Low-
Income+
Very Low-
Income+ Low-Income+ TOTAL UNITS+
https://www.hcd.ca.gov/community-
development/docs/adequate-sites-checklist.pdf
Rehabilitation Activity
Preservation of Units At-Risk
Acquisition of Units
Mobilehome Park Preservation
Total Units by Income
Table F
Please note this table is optional: The jurisdiction can use this table to report units that have been substantially rehabilitated, converted from non-affordable to affordable by acquisition, and preserved, including mobilehome park preservation, consistent with the standards set forth in Government Code section 65583.1, subdivision (c). Please note, motel, hotel, hostel rooms or other structures that are converted from non-residential to residential units pursuant to Government Code section 65583.1(c)(1)(D) are considered net-new housing units and must be reported in Table A2 and not reported in Table F.

Activity Type
Units that Do Not Count Towards RHNA+
Listed for Informational Purposes Only
Units that Count Towards RHNA +
Note - Because the statutory requirements severely limit what can be counted, please contact HCD at [email protected] and we will unlock the form which enable you to populate these fields.

Units Rehabilitated, Preserved and Acquired for Alternative Adequate Sites pursuant to Government Code section 65583.1(c) Annual Progress Report January 2020
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Note: "+" indicates
an optional field
Reporting Period 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Cells in grey contain auto-calculation formulas Planning Period 6th Cycle 01/31/2023 - 01/31/2031
Notes
23 6
Prior APN+ Current APN Street Address Project Name+
Local
Jurisdiction
Tracking ID
Unit Category
(2 to 4,5+)
Tenure
R=Renter
Very Low-
Income Deed
Restricted
Very Low-
Income Non
Deed
Restricted
Low- Income Deed
Restricted
Low- Income
Non Deed
Restricted
Moderate- Income
Deed Restricted
Moderate-
Income Non Deed
Restricted
Above
Moderate-
Income
Total Moderate Income Units
Converted from Above
Moderate
Date Converted Notes
Summary Row: Start Data Entry Below 00 0 0 0 0 0 0
Table F2
Above Moderate Income Units Converted to Moderate Income Pursuant to Government Code section 65400.2 For up to 25 percent of a jurisdiction’s moderate-income regional housing need allocation, the planning agency may include the number of units in an existing multifamily building that were converted to deed-restricted rental housing for moderate-income households by the imposition of affordability covenants and restrictions for the unit. Before adding information to this table, please ensure housing developments meet the requirements described in Government Code 65400.2(b). 5 Project Identifier Unit Types
1 4
Affordability by Household Incomes After Conversion Units credited toward Moderate Income RHNA
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Jurisdiction Cupertino
Reporting Period 2023 (Jan. 1 - Dec. 31)
Planning Period 6th Cycle 01/31/2023 - 01/31/2031 ANNUAL ELEMENT PROGRESS REPORT Housing Element Implementation
23 4
APN Street Address Project Name+ Local Jurisdiction
Tracking ID+
Realistic Capacity
Identified in the
Housing Element
Entity to whom the site
transferred Intended Use for Site
1 Summary Row: Start Data Entry Below
Note: "+" indicates an optional field
Cells in grey contain auto-calculation
formulas
Table G
Locally Owned Lands Included in the Housing Element Sites Inventory that have been sold, leased, or otherwise disposed of Project Identifier
NOTE: This table must only be filled out if the housing element sites inventory contains a site which is or was owned by the reporting jurisdiction, and has been sold, leased, or otherwise disposed of during the reporting year.
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Jurisdiction Cupertino Note: "+" indicates an optional field Reporting Period 2023
(Jan. 1 - Dec.
31)
Cells in grey contain auto-calculation
formulas
Designation Size Notes
12 3 4 5 6 7
APN Street Address/Intersection Existing Use Number of
Units
Surplus
Designation
Parcel Size (in
acres) Notes
357-11-030 10301 Byrne Avenue Residential 1 Surplus Land 0.3 Property surplused 7/7/2023. City Manager due diligence in process
NOTE: This table must contain an invenory of ALL
surplus/excess lands the reporting jurisdiction owns
Summary Row: Start Data Entry Below
Parcel Identifier

ANNUAL ELEMENT PROGRESS REPORT
Housing Element Implementation
Table H
Locally Owned Surplus Sites
For Santa Clara County jurisdictions, please format the APN's as follows:999-99-999 627
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Reporting Period 2023 (Jan. 1 - Dec. 31) Housing Element Implementation Planning Period 6th Cycle 01/31/2023 - 01/31/2031
Project Type Date
Units (Beds/Student
Capacity) Granted
Density Bonus
Notes
23 5 6
APN Street Address Project Name+ Local Jurisdiction
Tracking ID+
Unit Category
(SH - Student Housing) Date Very Low- Income
Deed Restricted
Very Low- Income
Non Deed
Restricted
Low- Income
Deed Restricted
Low- Income
Non Deed
Restricted
Moderate- Income
Deed Restricted
Moderate- Income
Non Deed
Restricted
Above
Moderate-
Income
Total Additional Beds
Created Due to Density
Bonus
Notes
Summary Row: Start Data Entry Below
Note: "+" indicates an optional field
Cells in grey contain auto-calculation formulas
Table J
Student housing development for lower income students for which was granted a density bonus pursuant to subparagraph (F) of paragraph (1) of subdivision (b) of Section 65915 Project Identifier Units (Beds/Student Capacity) Approved 1 4
NOTE: STUDENT HOUSING WITH DENSITY BONUS ONLY. This
table only needs to be completed if there were student housing projects WITH a density bonus approved pursuant to
Government Code65915(b)(1)(F)
Annual Progress Report January 2020
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Jurisdiction Cupertino ANNUAL ELEMENT PROGRESS REPORT
Reporting Period 2023 (Jan. 1 - Dec. 31)
Planning Period 6th Cycle 01/31/2023 - 01/31/2031
YesDoes the Jurisdiction have a local tenant preference policy? If the jurisdiction has a local tenant preference policy, provide a link to the jurisdiction's webpage on their internet website containing authorizing local ordinance and supporting materials.

Notes
Table K
Tenent Preference Policy
Local governments are required to inform HCD about any local tenant preference ordinance the local government maintains when the jurisdiction submits their annual progress report on housing approvals and production, per Government Code 7061 (SB 649, 2022, Cortese).

Effective January 1, 2023, local governments adopting a tenant preference are required to create a webpage on their internet website containing authorizing local ordinance and supporting materials, no more than 90 days after the ordinance becomes operational. https://www.cupertino.org/home/showpublisheddocument/19535/636578260399770000 629
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Jurisdiction Cupertino
Reporting Year 2023 (Jan. 1 - Dec. 31)
Total Award Amount Total award amount is auto-populated based on amounts entered in rows 15-26.

Task $ Amount Awarded $ Cumulative Reimbursement
Requested
Other
Funding Notes
Housing Element Update $300,000.00 $0.00 REAP
Summary of entitlements, building permits, and certificates of occupancy (auto-populated from Table A2) Current Year
Deed Restricted 3
Non-Deed Restricted 5
Deed Restricted 0
Non-Deed Restricted 5
Deed Restricted 1
Non-Deed Restricted 5
59 78
Current Year
Deed Restricted 0
Non-Deed Restricted 10
Deed Restricted 0
Non-Deed Restricted 10
Deed Restricted 0
Non-Deed Restricted 10
38 68
Current Year
Deed Restricted 0
Non-Deed Restricted 13
Deed Restricted 0
Non-Deed Restricted 13
Deed Restricted 0
Non-Deed Restricted 13
51 90
Moderate
Above Moderate
Total Units
Completed Entitlement Issued by Affordability Summary
Income Level
Very Low
Low
Moderate
Above Moderate
Total Units
Building Permits Issued by Affordability Summary
Income Level
Very Low
Low
Total Units
Certificate of Occupancy Issued by Affordability Summary Income Level
Very Low
Low
Moderate
Above Moderate

ANNUAL ELEMENT PROGRESS REPORT
Local Early Action Planning (LEAP) Reporting
(CCR Title 25 §6202)
Please update the status of the proposed uses listed in the entity’s application for funding and the corresponding impact on housing within the region or jurisdiction, as applicable, categorized based on the eligible uses specified in Section 50515.02 or 50515.03, as applicable.
300,000.00$
Task Status
In Progress
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CITY OF CUPERTINO
Agenda Item
24-13018 Agenda Date: 3/19/2024
Agenda #: 8.

Subject: Review city-owned properties
Review city-owned properties and provide direction to proceed with exploring rehabilitation and future use of the Stocklmeir site
Presenter: Matt Morley, Assistant City Manager
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CITY COUNCIL STAFF REPORT
Meeting: March 19, 2024

Subject
Review city-owned properties.

Recommended Action
Review city-owned properties and provide direction to proceed with exploring rehabilitation and future use of the Stocklmeir site.

Reasons for Recommendation
The City Work Program identifies city-owned properties as a project for the current work program cycle. This report provides details on key city properties, with recommendations for next steps specific to several.

10301 Byrne Ave – The City acquired this property in 2017, with the primary goal of carving off some of the property for use as right-of-way to enable the future construction of bicycle and pedestrian access along San Fernando Ave. This has been accomplished and recorded with the County.

On July 6, 2023 the Council declared this property surplus to the needs of the City. In compliance with the California Surplus Lands Act, staff has offered the property for sale as a below-market housing site. The prescribed process is specific, requiring the City to negotiate in good faith for ninety days prior to looking for other interested parties.

Should staff reach agreement with one of the two parties interested in the property for below-market housing, the agreement will return to the Council for consideration.

Should no agreement be reached in this phase, staff will propose selling the property with the use of a real estate agent at market value.

10300 Torre Ave (Cupertino City Hall) – The City Council provided revised direction with respect to the City Hall facility on October 17, 2023. That direction included examining financing opportunities for a new or renovated City Hall as well as information on public-private partnerships and exploration of partnership opportunities with developers, with the intent of providing broad latitude to staff in presenting options. Staff continues to explore options at a pace in alignment with resolving the City’s fiscal challenges.
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10455 Torre Ave (Annex) – The City purchased this property in 2021 to serve as a public-facing facility with the assumption that City Hall would undergo a significant remodel or reconstruction. Staff developed a design for the facility to accommodate this use, and has placed the completion of that design on hold subsequent to the City Council providing revised direction on City Hall. Staff recommends holding this property until such time as the disposition of City Hall is finalized.

22050 Stevens Creek Boulevard (Blesch property) – This residential site was purchased in 2014 to complete the acquisition of that portion of the Stevens Creek Corridor. The purchase was made with Park In-Lieu Funds, restricting the use to parks and recreation.

The building is in the immediate Regulatory Floodway of Stevens Creek, meaning the property is designed to flood in creek overflow conditions. Because of this, the structure is not a useable facility due to the risk to the facility and its contents.

Staff recommends incorporating this property into a planning process to provide enhanced access to the corridor, Stocklmeir property, and other city resources in the area, with the ultimate goal to demolish the structure on the property and repurpose the land to support the adjacent open space uses.

22120 Stevens Creek Boulevard (Stocklmeir property) – The Stocklmeir property also occupies space in the Regulatory Floodway of Stevens Creek, however the community’s interest in the historic nature of the property, including the structures and the orchard, warrants a different approach.

Staff recommends conducting an initial evaluation to identify opportunities to protect the property from flood, including a cost of work associated with bringing the facility to a useful condition, and a community-based effort to identify future uses that support the historic nature of the property, including a fundraising plan to facilitate reconstruction costs and the outline of a plan for ongoing operations and maintenance of the site with one or more community partners.

Other City Properties – Attachment A provides a list of other City properties as a reference. Staff has reviewed each and does not propose exploring any of these properties for alternative use or as surplus.

Sustainability Impact
No sustainability impact.

Fiscal Impact
Through the City Work Program, $90,000 has been budgeted for the City Owned Properties item. These funds will be utilized for preliminary analysis of the Stocklmeir and Blesch properties.

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California Environmental Quality Act
Not applicable.

_____________________________________

Prepared by: Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager

Attachments:

A – City Owned Property List

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City Owned Properties March 8, 2024
Assessor Parcel
Number Description Current Use
GIS Calculated Lot
Area SqFt
369 40 009 Torre Ave *Office 21,369
357 09 053 Stocklmeir *Park 218,420
357 10 002 Blesch *Public Use 27,223
369 31 033 Civic Center *Public Use 425,341
357 10 008 Blackberry Farm Park 835,671
357 10 007 Blackberry Farm Golf Course Park 607,333
342 59 027 Canyon Oak Park Park 24,183
369 15 002 Creekside Park Park 576,678
369 15 009 Creekside Park - Frontage along parking lot Park 12,340 369 15 004 Creekside Park NW Frontage Park 6,034
326 27 030 Dog Park Park 22,168
326 09 071 Franco Park Park 36,662
366 16 052 Hoover Park Park 222,937
359 25 049 Jollyman Park - Frontage and Parking Lot Park 70,601 359 25 002 Jollyman Park NE Park 74,046
359 25 048 Jollyman Park SE Park 68,938
359 25 024 Jollyman Park West Park 273,322
326 17 004 Land near Blackberry. Across the street crossing Stevens Creek Park 10,084 357 11 029 Land on NE of BBF Golf fronting Stevens Creek Blvd Park 11,658 357 13 035 Land on South end of BBF Park Park 15,874
357 12 001 Land on South of BBG Golf Park 1,799
375 21 001 Lawrence Mitty Park 307,783
375 22 001 Lawrence Mitty Park 32,617
356 05 006 Linda Vista Park Park 476,014
342 56 042 Little Rancho Park Park 14,821
357 06 018 McClellan Ranch Park 564,493
357 06 014 McClellan West Simms Park 135,836
326 29 006 Memorial Park Park 633,296
326 27 033 Memorial Park frontage along Mary Park 15,613 342 15 038 Monta Vista Rec Center and Park Park 269,350 316 31 041 Portal Park Park 164,113
326 49 040 Somerset Square Park - East Park 8,421
326 49 036 Somerset Square Park - West Park 47,381
375 23 046 Sterling Barnhart North Park 9,365
375 23 047 Sterling Barnhart South Park 12,317
357 07 029 Stevens Creek Corridor between BBF and McClellan Park 150,415 362 30 098 Three Oaks Park Park 138,210
326 14 005 Varian Park Park 276,391
369 10 001 Wilson Park East Park 211,459
326 06 052 Corp Yard Public Use 193,640
326 54 041 Quinlan Public Use 311,975
326 29 022 Sports Center Public Use 267,602
357 11 020 Property on Byrne and San Fernando Residential 17,112 326 37 047 Walk way along Stevens Creek Elementary School Trail - Access to Stevens Creek E 4,378
356 05 005 Linda Vista Trail Trail - Linda Vista 71,770 356 07 059 Land between McCellan Ranch and Deep Cliffe Golf Course Trail - Stevens Creek Trail 2,560 362 17 020 Land between Orogrande Pl and November Dr - In yard Water System 353 323 36 021 Triangular plot of land on Forge Way - North of Homestead Water System 1,806 326 01 051 Triangular plot of land on Homestead on West side of City Water System 977 342 22 064 Land along Mercedes Rd Water System - Water Storage T 108,604 326 45 015 Land on 10430 Mann Dr Water System - Water Storage T 10,658 635
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CITY OF CUPERTINO
Agenda Item
23-12671 Agenda Date: 3/19/2024
Agenda #: 9.

Subject: Councilmember Reports
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1 CITY COUNCIL ACTIVITY REPORT*
Meeting: Tuesday, March 19, 2024

+for the “Councilmember Reports” agenda item under the “COUNCIL REPORTS AND COMMENTS” section

Reporting Councilmember: Councilmember Liang Chao

Report Activity Dates: 2/27/24 to 3/09/24

Section 1: Events Attended (Date, Title, and Description):

(This list does not include internal meetings with staff only, such as prep sessions or meetings with the City Manager.)

2023‐03‐01 Meeting with FUHSD Superintendent Graham Clark on the transition to trustee‐area elections.
‐ I summarize community concerns on the rush to transition and requested FUHSD to consider alternatives (My presentation)

2024‐03‐02
Invited to attend the film screening of the newly released documentary “Killing America” ‐ This film follows how Sequoia Union High School District and San Francisco United School District eliminated advanced classes and merit‐based admissions. ‐ It starts out with unbelievable concerning antisemitic remarks on social media and antisemitic actions in schools.

2024‐03‐08 Attended webinar on Discussion About Funding Opportunities for Recreation Services ‐ Presentation outlines that each client of San Andreas Regional Center with an IPP (Individual Program Plan) qualities for funding for up to 6 hours of “social recreational activities”, which include art, dance, sport, YMCA or small group activities to promote socialization. ‐ This is one of the monthly webinars for families to get information and ask quesitons,

Section 3: Committee Assignment

2024‐02‐28 Santa Clara County Recycling and Waste Reduction Committee (RWRC) ‐ appointed by Cities Association to represent the north county cities 637
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2 ‐ Informative presentation on Household Hazardous Waste Program and the National Stewardship Action Council on Medication and Needle Extended Producer Responsibility (More resources)
‐ SCC medication disposal – find a location
‐ SCC needle safe disposal: Sharps – find a location
‐ There was interest to learn more about the high cost recycling Marine Flares and the proposed bill SB 1066.
‐ Appointed nonprofit organization members for the Technical Advisory Committees

Section 2: Other Activities to Serve the Community:
(This list includes other activities I have spent time on to “represent the community I am elected to serve”, “to respond to community needs and complaints,” and “to communicate policies and programs to residents,” among other responsibilities.) NOTE: In the past, for this agenda item, each Councilmember reports their activities on the dias and also makes any comments/announcements they feel are important for the community to know. Thus, I am continuing that tradition here.

1. Update on License Plate Reader Program
○ A few residents who experienced recent break‐ins have requested the installation of license plate reader cameras. These cameras would alert the police if any suspicious vehicles with a record are detected.
○ At the recommendation of the Public Safety Commission, the Council has put the program on the FY 2 022‐23 Work Program. The Council continued this program on the two‐year FY23‐25 Work program. But this program is one of the many programs proposed for reduction during the January 17, 2024 Council meeting.
○ The Q4 FY 2022‐23 update indicates that outreach should be completed by August 2023 and a proposal should be on the Council agenda by the end of S eptember 2023. But currently
the staff is just developing an outreach plan.

2. Update on the gate closure of the former Regnart Elementary School. ‐ A resident commented at a Council meeting that the gate to the field of the former Regnart Elementary School was closed. As a result, the nearby residents cannot use the school field after school hours as parks.
‐ I have reached out to Superintendent Stacy Yao of CUSD to confirm that the gates should be open. Stacy said there should be a sign with a c
ontact number in case the gates are closed.

3. American Rescue Plan Act (ARPA) allocations and expenditures ‐ During the registration for the National League of Cities conference, March 11‐13, one question from the questionnaire for attendees is about ARPA funds and how they are spent or budgeted. Thus, I collected some information from the City and the County. ‐ The City received $9,694,773 in ARPA funds. The funds were used to offset revenue losses , such as TOT, which dropped significantly during Covid.
‐ The County allocation for ARPA was $374.4 million in one‐time funds. Here is the latest report (and the 8th report since August 2021) to the County Board of Supervisors on the ARPA allocation and expenditures.

4. Cupertino Budget Discussions:
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3 ‐ The proposed service level reduction was discussed on the January 17 Council agenda to collect Council feedback.
‐ The next step in the budget discussion is CIP (Capital Improvement Project), which should be on the March 19 Council agenda.
‐ A roadmap of what’s upcoming is in the Feb. 6 Staff Presentation for the Fee Study Agenda Item:
‐ The first of two Community Workshops on Budget was held on Thursday 2/2 9. (Find the presentation and the video here)

5. Housing Element Update:
‐ I have submitted an agenda request to have a study session on the current HE draft before the final adoption, as the Council should not be expected to rubber stamp such the set of extensive and important legislative documents with many new policies and commitments to be adopted all in one meeting. Aa part of a review of the TBD (to‐be‐determined) agenda requests, at the March 5 Council Meeting, the staff in dicated that there will be a study session, but no dates or even approximate dates could be shared at this time,

6. FUHSD By‐Trustee‐Area Election in November 2024
‐ After the community provided feedback and submitted maps, some maps were presented by the Consultants to the CTAD Committee on March 11, who will choose 3‐5 maps to recommend to the FUHSD Board. The community can provide feedback on the recommended maps before the March 20 Board meeting.
‐ Upcoming meetings:
‐ Wednesday, March 20, 2
024 (6 p.m.) ‐ likely to finalize the maps
‐ April 24, 2024 (6 p.m.) ‐ likely final adoption of the resolution ‐ There is serious concern of potential closure of Lynbrook High, Cupertino High or Monta Vista High among the parent communities, given that there is a strong advocacy effort to reopen the S
unnyvale High School. FUHSD has explained that the district continues to invest in infrastructure for those three schools in Cupertino and West San Jose and the cost of reopening Sunnyvale High would be at least $0.5 million dollars. To ensure that any school closure decision is not made on a divided 2‐3 split votes, I ha ve urged the FUHSD Board to adopt a Board Policy that requires a supermajority vote for any school closure,

(Last Activity Report in the March 5, 2024 Council Meeting Agenda.)

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1 CITY COUNCIL ACTIVITY REPORT
Meeting: March 19, 2024

Reporting Councilmember: Vice Mayor J.R. Fruen

Report Activity Dates: 2/28/24 to 3/11/24

Event Date, Title, and Description:

Event 1. March 1, 2024 – Weekly Meeting with the City Manager – I attended my weekly meeting with City Manager Wu to discuss the upcoming council agenda, resident concerns, and items of interest.

Event 2. March 8, 2024 – Weekly Meeting with the City Manager – I attended my weekly meeting with City Ma
nager Wu to discuss the upcoming council agenda, resident concerns, and items of interest.

Event 3. March 8, 2024 – WVCS Chefs of Compassion Fundraiser – I attended West Valley Community Services annual “Chefs of Compassion” fundraiser to benefit the work the organization does in providing food, shelter, and other services to our most vulnerable residents.

Event 4. March 10, 2024 – League of Women Voters – Cupertino‐Sunnyvale “Meet the Electeds” Mixer – I attended thi
s annual meet‐and‐greet hosted by the League of Women
Voters and featuring an opportunity for members of the public to meet and speak to elected officials representing parts of Cupertino, Su
nnyvale, and Santa Clara County. Our own city
manager, Pamela Wu, was a featured speaker, along with the city manager from the City of Sunnyvale.

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1 CITY COUNCIL ACTIVITY REPORT
Meeting: March 19, 2024

Reporting Councilmember: Mayor Sheila Mohan

Report Activity Dates: 2/27/24 to 3/11/24

Event Date, Title, and Description:

2/27/24: Met with the new reporter from the Bay Area News Group, and together with Tina Kapoor, Deputy City Manager, I emphasized the need to see Cupertino community stories in their publications, especially the Cupertino Courier.

2/28/24: Hosted the West Valley Mayor’s Meeting at the Main Street Lofts which was attended by mayors of Campbell
, Los Gatos, Monte Sereno and Saratoga. Topics for discussion included challenges posed by Housing Element, pedestrian and bike trails near Lehigh, and graffiti abatement along Hwy 9.

2/29/24: The Audit Committee of SVCE held its first meeting of 2024, and as an audit committee member, I participated in the review of audit committee purpose and obligations which is primarily to oversee the external auditor’s audit of the SVCE’s financial state
ments.

2/29/24: Attended a reception hosted by Stanford President Saller and Provost Martinez at the historical Henry Hoover House on the Stanford University campus.

This was an intimate reception for local elected officia ls and provided an
opportunity to connect with government officials from Santa Clara and San Mateo counties. The Hoover House provided a beautiful setting.

3/1/24: Ended the week with the most enjoyable of all events: reading stories to children at the St Joseph of Cupertino Elementary School. This was part of the Read Acros
s America national program intended to encourage children to read books.
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City Council Councilmember Activity Report

2 3/4/24: Attended a prep session conducted by City Attorney and City Manager on the Council Procedures Manual and the Commissioners Handbook.

Both items were on the March 5 agenda and the prep session was useful in getting back to the essentials of good governance.

3/7/24: Participated in the Mayors’ Breakfast Signature Event conducted by the Silicon Valley Central Chamber of Commerce. Together with Mayors of Mountain View, Sunnyvale, Santa Clara and Milpitas we discussed the common challenges and oppor
tunities we face, and regional solutions we can all work towards. The event was reported by many area publications.

3/8/24: Along with 500 other guests, I attended the very enjoyable Chefs of Compassion gala fund raiser. The Cooking fo
r a Cause event featured a delicious
gourmet three course meal prepared by celebrity chefs who used ingredients from the WVCS pantry. A good time was had by all.

3/9/24: Was honored to speak at 7EDU’s 10
th anniversary celebration. The
academy encourages students to find excitement and passion in transforming themselves to individuals who make a lasting impact on society. Councilmember Hung Wei attended as well, and provided the Chinese translation of my remarks!

3/10/24: Attended the League of Women Voters reception for local elected officials at BJ’s re staurant, and had a good time connecting with friends and representatives from Sunnyvale City Council and our school districts.

3/11/24: Hosted the monthly Mayor’s Chai and Chat at the Target coffee shop.

A well‐attended event, with many from the pickle ball community advocating for pickle ball courts. Other members of the public spoke about stree t cleaning,
possible water hydrant malfunction, and the quick actions of the Sheriff’s office in addressing home burglaries.

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1 CITY COUNCIL ACTIVITY REPORT
Meeting: March 19, 2024

Reporting Councilmember: Councilmember Hung Wei

Report Activity Dates: 2/28/24 to 3/12/24

Event Date, Title, and Description:

Event 1. Sunday March 3, 2024 @ 6:00pm, Taiwan American Chamber of Commerce Northern California Annual Board Installation and Gala

Attended the Annual Board Installation of Taiwan American Chamber of Commerce Northern California, a networking and fellowship occasion with fellow elected officials and community members.

Event 2. Friday March 8, 2024 @ 6:00pm, attended the A nnual Chefs of Compassion hosted by
West Valley Community Services @ the Computer History Museum

Attended the annual Chefs of Compassion hosted by West Valley Community Services with Mayor Mohan, Vice Mayor Fruen, and City Manager Wu – testimonials from clients that West Valley Community Services has helped were heart‐warming.

Event 3. Saturday March 9, 2024 @ 11:00am, 10‐Year Anniversary Celebration of 7EDU Impact Academy in Cupertino

Attended, with Mayor Mohan, th
e 10‐Year Anniversary Celebration of 7EDU. Mayor Mohan presented a Certificate of Congratulations to the Founder and congratulated the educational accomplishments of the principal and teache rs. The Board President of the Cupertino Chamber of Commerce John Tang also presented a Certificate of Congratulations to the founder of 7EDU.

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CITY OF CUPERTINO
Agenda Item
23-12504 Agenda Date: 3/19/2024
Agenda #: 10.

Subject: FY 23-25 City work Program Q2 update
Receive FY 23-25 City work Program Q2 update
CITY OF CUPERTINO Printed on 3/13/2024Page 1 of 1
powered by Legistar™
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CITY COUNCIL INFORMATIONAL MEMORANDUM
Meeting: March 19, 2024

To: Cupertino City Council
From: Pamela Wu, City Manager

Re: Second Quarterly Update for FY 23-25 City Work Program

Reasons for Recommendation
This report focuses on updates from October 2023 through February 2024.

On April 4, 2023, the City Council adopted the FY 2023-2025 City Work Program, which included a total of 24 projects. As part of the City’s budget reduction strategy, the City Council approved funding for 15 of the 24 projects for FY 2023-2024. The remaining nine projects will be considered for funding as part of the budget adoption in April/May 2024. Attachment A includes updates for all funded projects in FY 2023-2024. These updates can also be viewed on the City Work Program Dashboard at cupertino.org/cityworkprogram.

Below are highlights from high priority items:

Vision Zero: Staff has been progressing with the development of the draft Vision Zero Policy and Action Plan. This has included the successful hosting of two community meetings, one stakeholder meeting and one Bicycle Pedestrian Commission (BPC) meeting. The draft plan will be available for public review next week on the city’s website, and staff will be presenting the plan to the BPC on March 20 for discussion and feedback. Staff anticipates completing the Final Plan and bringing it to the City Council for adoption in April.

Tree List: Community Development and Public Works staff have developed a plan to revise the City’s tree list for both public and private trees and native species. They are developing an RFP with publishing expected in June 2024.

Public Safety in Both Residential/Commercial Areas:

License Plate Readers – The County of Santa Clara recently adopted new policies related to data sharing and automated license plate readers. The City and the Sheriff's Office are reviewing the updated policies for implementation and possible integration into the general law enforcement agreement. 645
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2 Block Leader Program Enhancements – In support of the City Council's initiative to enhance the Block Leader Program, the City applied for and received a grant of over $222,000 from the California Governor's Office of CA Volunteers. This funding will support a pilot program focused on emergency preparedness and resilience. Staff are actively implementing program initiatives to encourage active participation and new volunteer recruitment with small focus groups and emergency kit building events in neighborhoods.

Commercial Corridor Safety – The City has supported the Sheriff's Office with the implementation of a new commercial corridor initiative to prevent and respond to criminal activity at local businesses. The Sheriff's Office has implemented a commercial burglary prevention program that is serving Cupertino businesses and build relationships between the City, law enforcement, and business owners around safety.

Senior Services and Youth Engagement: Staff has developed intergenerational engagement programs and events to facilitate fun and engaging opportunities connecting seniors with youth and their families. Here are some highlights:

Intergenerational Celebration – On October 20, 2023, the Cupertino Senior Center and the Cupertino Change Agents, a youth-based Cupertino non-profit organization, collaborated to create an event celebrating intergenerational engagement. Adults 50+ enjoyed musical performances by members of the organization and participated in a variety of activities including cookie decorating and craft projects.

Thanksgiving Youth Art Celebration – During the month of November, “What Thanksgiving Looks like for You,” a seasonal art exhibit comprised of paintings from teen artists of the Youth of Suha Suha Art Studio, was displayed at the Cupertino Senior Center lobby for all to enjoy.

Senior Strategy Assessment: Survey results were analyzed from a Community Assessment Survey for Older Adults (CASOA) to better understand the contributions that adults [50+] make to their communities, as well as the needs they have and challenges they experience.

The areas in which the city ratings were lower than benchmark comparisons were:
 Cost of living in your community
 Availability of affordable quality housing
The areas in which the city rating was higher than benchmark comparisons were:
 Overall economic health of your community
 Overall opportunities for education, culture, and the arts  Opportunities to build work skills
 Availability of accessible housing (e.g., homes with a no step entry, single-floor living, wide hallways and doorways)
 Opportunities to enroll in skill-building or personal enrichment classes

DOLA: Staff is developing a standardized process to transition last fiscal year’s successful Dogs Off Leash Area (DOLA) trial location into permanent programs with the Parks and 646
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3 Recreation Department implementing a permitting process. A list of amenities requests was received from DOLA groups and the options were assessed and prioritized. Benches will be installed at the Linda Vista and Jollyman DOLA locations.

Preserve existing and develop new BMR/ELI Housing: On February 6, the City Council voted to enter into an Exclusive Negotiation Agreement (ENA) with a developer team consisting of registered California non-profits focused on affordable housing development.

The developer team will hold public outreach meetings in coordination with the City, develop the scope, and present plans to the City for review and approval. Both parties will work to develop the terms of a ground lease, disposition and development agreement (DDA), affordability covenants, and related documents by the end of 2024.

Housing Element Update: The third draft housing element was submitted to HCD in February. Staff anticipates receiving comments from HCD and completing the Final Housing Element in April 2024.

Study Session on City-Owned Properties: On March 19, staff will present a comprehensive review of all City-owned properties. This will provide details on key City properties, with recommendations for next steps pending Council direction.

Completed items:
 Budget Audit
 Council Governance Reform Package
 Analyze Potential Revenue Resources

Next Steps
The FY 24-25 City Work Program is tentatively scheduled to be discussed at the April 3 City Council meeting. At this meeting, Council will have the opportunity to discuss potential modifications to the FY 23-25 City Work Program. For more information on the City Work Program and to view previous quarterly updates, please visit cupertino.org/cityworkprogram.

Sustainability Impact
There are no sustainability impacts associated with this update.

Fiscal Impact
There are no fiscal impacts associated with this update.

California Environmental Quality Act
Not applicable.

Prepared by: Astrid Robles, Senior Management Analyst
Reviewed by: Tina Kapoor, Deputy City Manager
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4 Matt Morley, Assistant City Manager
Chris Jensen, City Attorney
Approved by: Pamela Wu, City Manager
Attachments:

A – FY 23-25 City Work Program Q2 Dashboard Printout

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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Research Complete 1/5/23 5/23/23 Research complete 100

1.3 Outreach In Progress 3/5/23 3/20/24 Vision Zero website developed and made live in May. Community outreach meetings completed. Bicycle Pedestrian Commission in March.
75 1.4 Procurement Complete 10/11/22 12/23/22 A consultant was selected in November and contract has been executed.
100

1.5 Execution Phase In Progress 1/5/23 4/9/24 Developing draft Vision Zero policy resolution and draft report.

Staff anticipating bringing the report to Council in April 2024. 80 1.6 Closing Processes Future 4/30/24 4/30/24 Project will be complete upon Council adoption. 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Bicycle Pedestrian
Commission
$100,000.00 $100,000.00 $79,800.00 $20,200.00 3/6/24 Public Works Vision Zero
Develop a Vision Zero Policy and Action Plan. The Plan will guide policies and programs with the goal of eliminating fatalities on Cupertino roadways. Special emphasis will be placed on routes to, and streets surrounding, Cupertino schools.

Transportation

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Planning In Progress 1/1/24 6/30/24 Project was on hold until after completion of the Housing Element.

Staff has worked with Public Works on an RFP with hopes to publish by June 2024.
15 1.3 Execution Phase Future 6/30/24 12/27/24 0

1.4 Closing Processes Future 12/27/24 12/27/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $50,000.00 $50,000.00 $0.00 $50,000.00 3/8/24 Community Development
Tree List - Community Development
Review and revise development tree list (per Ch. 14.18: Protected Trees) with an emphasis on appropriate trees and native species.

Sustainability and Fiscal Strategy

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Planning Phase Complete 4/30/23 7/30/23 Staff developed a plan to revise the City's street tree list. 100

1.3 Procurement Phase In Progress 7/30/23 6/30/24 Staff currently working on RFP with hopes to publish by June 2024.
30 1.4 Execution Phase Future 6/30/24 12/30/24 0

1.5 Closing Processes Future 12/30/24 1/30/25 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $60,000.00 $60,000.00 $0.00 $60,000.00 2/15/24 Public Works Tree List - Public Works
2) Review, revise, and communicate street tree list with an emphasis on appropriate trees and native species. 3) Develop an Urban Forest program scope and cost for future consideration.

Sustainability and Fiscal Strategy

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research In Progress 7/1/22 4/1/24 The Santa Clara County Sheriff's Office and the Santa Clara County Board of Supervisors revised the Automated License Plate Readers policy in January 2024. City Staff are reviewing the policy and implications to Cupertino.
90 1.3 Outreach In Progress 2/1/24 9/30/24 Staff have conducted public meetings with the TICC and Public Safety Commissions. Staff will develop outreach events including return to Commissions as planning and implemention begin. 50 1.4 Planning Phase In Progress 2/1/24 9/30/24 Staff are developing a project charter, scope and communication plan that meet the requirements of the SCC BOS policies. 50 1.6 Design Phase Future 5/1/24 7/31/24 Program draft will be developed based on results of research and outreach
0 1.5 Procurement Future 5/1/24 7/31/24 Request and evaluate proposals, select vendor and finalize contract
0 1.7 Execution Phase Future 7/1/24 9/30/24 0

1.8 Closing Processes Future 9/1/24 9/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Public Safety Commission $60,000.00 $60,000.00 $0.00 $60,000.00 2/20/24 City Manager's Office
License Plate Readers
Conduct research, engage in outreach, identify location for placement and estimate cost of implementing an Automated License Plate Reader (ALPR) system in Cupertino.

Quality of Life

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/23 1/31/24 Staff secured a grant opportunity with CA Volunteers to support expansion of the Block Leader program. Staff researched and submitted a proposal with best practices to encourage engagement with potential Block Leaders.
100

1.3 Planning Phase In Progress 7/1/23 6/1/24 Staff have developed a framework to engage with community members and encourge recruitment of the Block Leader Program.

Staff have scheduled bi-monthly focus groups to engage volunteers and community members..
85 1.4 Design Phase In Progress 7/1/23 6/30/24 Staff have implemented strategies derived from best practices, including launching new community engagement programs such as Block Leader organized Personal and Family Preparedness classes. As events occur, staff will adjust for constant improvement. 75 1.5 Execution Phase In Progress 11/30/23 6/30/24 Recruitment events began in November and are scheduled through June 2024. A grant extension is a possibility.
55 1.6 Closing Processes Future 6/1/24 6/30/24 Close out pending completion of execution phase. 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Public Safety Commission $10,000.00 $10,000.00 $0.00 $10,000.00 2/20/24 City Manager's Office
Public Safety - Block Leader and Neighborhood Watch
Strengthen Block Leader/Neighborhood Watch programs to ensure the leaders are active and expand the coverage of active neighborhoods.

Quality of Life

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Research Complete 10/1/23 1/31/24 Research Phase Complete. The City supported the Sheriff's Office in securing a grant for retail theft suppression in commerical corridors.
100

1.3 Planning Phase In Progress 1/1/24 4/29/24 Coordination with Santa Clara County Sheriff's Office is ongoing. 90

1.4 Design Phase In Progress 2/1/24 4/30/24 City staff are supporting the Santa Clara County Sheriff's Office in the launch of a commercial corridor retail theft suppression program.
90 1.5 Execution Phase In Progress 2/1/24 6/30/24 The retail theft suppression program launched operations in February 2024. Evaluation and improvement in the program is ongoing in coordination with the Santa Clara County Sheriff's Office.
50 1.6 Closing Processes Future 6/1/24 6/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Public Safety Commission $0.00 $0.00 $0.00 $0.00 2/20/24 City Manager's Office
Public Safety in Commercial Areas
Explore best practices to deter crime in commercial areas and bring options to Council.

Quality of Life

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Planning Phase In Progress 7/1/23 6/30/24 Develop a preliminary plan to present senior needs from the survey results and present to applicable parties
35 1.3 Closing Processes Future 6/1/24 6/30/24 Develop a plan to address identified priorities and perform ongoing assessment of existing resources to Seniors
0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Teen Commission $0.00 $0.00 $0.00 $0.00 2/15/24 Parks and Recreation Senior Survey Assessment
Assess Survey results and develop a plan to increase awareness of programs and services for seniors based on gaps identified by the survey.

Public Engagement and Transparency

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Outreach Complete 11/27/23 2/29/24 Outreach to youth volunteer groups and the school district regarding volunteer work
100

1.3 Planning Phase In Progress 10/1/23 6/20/24 Staff carry out program logistics and prepare for events 50

1.4 Advertising In Progress 10/1/23 6/20/24 Information about intergenerational events posted on social media, schools, on the City's Winter/Spring/Summer Recreation Guides
32 1.5 Execution Phase In Progress 10/20/23 6/30/24 Staff to prepare and hold intergenerational events 50

1.6 Closing Processes Future 6/1/24 6/30/24 Continue developing and offer on-going programs at the Senior Center
0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Teen Commission $20,000.00 $20,000.00 $1,942.39 $18,057.61 3/6/24 Parks and Recreation Senior Services and Youth Engagement
Connect seniors with youth and their families with inclusive activities Public Engagement and Transparency

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Planning Phase Complete 7/1/23 2/1/24 Meet with DOLA groups to discuss transition of trial programs and continue researching similar programs
100

1.3 Execution Phase In Progress 3/1/24 5/30/24 Follow up with DOLA groups and continue working on operational standarized process
0 1.4 Closing Processes Future 6/3/24 6/30/24 Parks and Recreation will implement permitting process in house 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Parks and Recreation
Commission
$5,000.00 $5,000.00 $575.26 $4,424.74 2/15/24 Parks and Recreation
Dogs Off Leash Area (DOLA)
Transition successful trial DOLA programs to permanent programs with a staff level permitting process housed in Parks and Rec.

Quality of Life

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/23 12/31/23 Review list of requests from DOLA groups 100

1.3 Planning Phase In Progress 1/1/24 3/1/24 Assess options and determine which improvements to prioritize 75

1.4 Execution Phase In Progress 2/1/24 6/28/24 Procure and install benches at the Linda Vista and Jollyman DOLA locations
20 Details
Commission Estimated
Budget
Allocated Budget Budget Expended/
Encumbered
Budget Remaining Last
Updated
Lead Department
Parks and Rec Commission $0.00 $0.00 $0.00 $0.00 2/15/24 Parks and Recreation DOLA Amenities
Amenities for DOLA programs in City parks, e.g., water facilities for dogs, fencing, benches, etc.

Quality of Life

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/19 10/30/19 Researched need for ELI developmentally disabled housing and moderate income housing and determined possible City locations. 100

1.3 Planning Phase Complete 7/1/21 8/16/22 Scoped affordable housing project with non-profits/developers and worked with Public Works to determine feasibility of project on City sites. Had Council study session March 15. RFP was released in August .
100

1.4 Outreach Complete 10/1/21 8/16/22 Marketed City's capital housing funds for development of affordable housing.
100

1.5 Procurement Complete 2/9/21 1/31/23 Evaluated Notice of Financial Assistance (NOFA) applications.

One responses to the RFP was received in October and staff is evaluating next steps in the execution phase.
100

1.6 Execution Phase In Progress 1/31/23 12/30/24 City Council selected developer through approval of an ENA for the Mary Avenue Site in February. Next steps include approve time sheet and enter into Disposition and Development Agreement early Winter 2024.
75 1.7 Closing Processes Future 1/30/25 1/30/25 Will present final DDA to Council at the end of 2024. Construction will commence.
0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Planning Commission $250,000.00 $250,000.00 $15,278.00 $234,722.00 3/7/24 Community Development
Preserve existing and develop new BMR/ELI Housing
Explore opportunities to preserve existing expiring BMR housing. Develop ELI (Extremely Low Income) and BMR housing units for Developmentally disabled individuals (IDD) on City-Owned property as well as the County-owned sites.

Housing

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research In Progress 7/1/23 3/30/24 Work on City Hall and Byrne is in progress. Other properties will begin in early 2024.
54 1.4 Outreach In Progress 7/1/23 12/30/24 Staff took options for City Hall (Oct 17) and Byrne (July 6) to the City Council. The next update will be taken to the City Council on March 19, 2024.
25 1.3 Procurement In Progress 8/14/23 5/30/24 Byrne Ave Property Sale anticipated in May 2024 15

1.5 Closing Processes Future 4/29/24 5/31/24 Close Project 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $90,000.00 $90,000.00 $0.00 $90,000.00 3/7/24 City Manager's Office Study Session on City-Owned Properties
Inventory and assess existing facilities and prepare a long-range planning report for three City-owned properties (Blesch, Byrne, and Stocklemeir).

Sustainability and Fiscal Strategy

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Outreach In Progress 5/19/20 4/30/24 Conducted 31 study sessions/public hearings with Housing Commission/Planning Commission/City Council/CEP-Strategic Advisory Committee as of September 2023. Housing Element update presented to Council on July 25. Council dissolved the CEP- SAC on 1/25/23.
98 1.3 Procurement Complete 3/2/21 3/1/23 First consultant complete. Second consultant brought on board March 2023 and continues to be lead consultant.
100

1.4 Execution Phase In Progress 4/30/21 4/30/24 Draft Housing Elements submitted in February and October 2023 and February 2024. Staff anticipates receiving comments from HCD in April 2024 and Final Housing Element document
anticipated to be completed inApril 2024.
90 1.5 Closing Processes Future 4/20/24 4/30/24 Housing Element to be taken to the City Council in April 2024. 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
Planning Commission $1,687,116.00 $1,687,116.00 $644,293.31 $1,042,822.69 3/7/24 Community Development
Housing Element Update
Review preliminary RHNA numbers. Look at strategies for RHNA compliance including evaluating sites for potential upzoning, and jobs-housing ratio and statistics. Identify Priority Housing sites, update Housing Element and complete rezoning by Sept. 2023.

Housing

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/23 6/30/24 Staff researched and drafted revised Ethics Policy 100

1.3 Execution Phase Complete 7/1/23 11/30/23 The City Attorney's Office and consultant presented a report on the investigation of violations to the City Council on September 19 and solicited Council input on revisions to the Ethics Policy. Revised Ethics Policy presented to Council on November 7.
100

1.4 Closing Processes Complete 11/30/23 6/30/24 Project Complete 100 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $25,000.00 $25,000.00 $25,000.00 $0.00 11/8/23 City Manager's Office Council Governance Reform Package

1. Revised Ethics Policy consistent with City response to the Civil Grand Jury Report authorized on 2/21/2023 2. Investigate and report back on incidents of violations of the Municipal Code and Ethics Policy relative to the Council-staff relationship cited in the Civil Grand Jury Report
Public Engagement and Transparency

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/23 3/30/24 Staff researched commission info from other cities. 100

1.3 Outreach In Progress 3/5/24 5/30/24 Staff will be reaching out to commissions for input on Criteria. 15

1.4 Execution Phase In Progress 2/1/24 5/30/24 Staff presented this item to the City Council at the 3/5 City Council meeting.
75 1.5 Closing Processes Future 5/30/24 6/30/24 Project will be completed once Criteria has been established 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $0.00 $0.00 $0.00 $0.00 3/8/24 City Manager's Office Commission Governance Reform Package

1. Revised Commissioner’s Handbook to align it with Council Procedures Manual 2. Investigate & report back on incidents of violations of the Muni Code re: the Commission-Staff relationship 3. Realignment of Commissioner terms of office 4. Establishment/revision of commissioner qualifications
Public Engagement and Transparency

ATTACHMENT A
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Updates
#

Task Status Task Start Task End Update % Completed

1.2 Research In Progress 11/1/23 3/15/24 Gather and submit policies to the City's internal auditor, Moss Adams, for review. The auditor will issue a report with recommendations.
50 1.3 Execution Phase Future 4/1/24 6/30/24 Will be reviewing policy inventory with Audit Committee Spring 2024. Staff anticipating bringing this to Council in June 2024. 0 1.4 Closing Processes Future 6/30/24 6/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $10,000.00 $10,000.00 $10,000.00 $0.00 2/29/24 Administrative Services Whole City Policy Review
Repeat the 2013 process of compiling and reviewing all City Policies including 1) Administrative and 2) Council policies and provide recommendations/updates, e.g. Green Purchasing, Property Acquisition Public Engagement and Transparency

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/22 5/15/23 Staff looked into consultants used by other cities 100

1.3 Procurement Complete 5/15/23 7/11/23 City contracted with UFI to analyze potential tax measures and revenue generation.
100

1.4 Execution Phase Complete 6/1/23 2/21/24 Report on potential revenue tax measures was taken to Council in February 2024.
100

1.5 Closing Processes Complete 1/30/24 2/21/24 Council voted to not conduct a survey. Project Complete. 100 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $50,000.00 $50,000.00 $0.00 $50,000.00 2/29/24 Administrative Services Analyze Potential Revenue Resources
Analyze potential revenue measures, such as transient occupancy tax, sales tax, property tax, and utility users tax, to address possible future financing challenges.

Sustainability and Fiscal Strategy

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Procurement Complete 7/1/23 7/18/23 City has partnered with Santa Clara County and West Valley Community Services in order to provide support for the Unhoused. 100

1.3 Execution Phase In Progress 7/18/23 6/30/24 Project is currently underway to assist Unhoused residents in Cupertino with their food needs, as well as with their vehicle needs, in partnership with Santa Clara County and West Valley
Community Services.
50 1.4 Closing Processes Future 6/30/24 6/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Housing Commission $50,000.00 $50,000.00 $0.00 $50,000.00 3/7/24 Community Development Support for the Unhoused
Collaborate and fund jointly with West Valley efforts to address regional needs and find workable support for the Unhoused.

Housing

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/23 8/30/23 All high-risk fiscal policies, as identified in the fiscal and inventory gap analysis report by the City's internal auditor, Moss Adams, have been revised and adopted.
100

1.3 Execution Phase In Progress 9/1/23 6/30/24 Staff is finalizing edits to existing policies identified as medium to low risk as part of the fiscal policy and inventory gap analysis report.
80 1.4 Closing Processes Future 6/30/24 6/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
N/A $45,000.00 $45,000.00 $45,000.00 $0.00 2/29/24 Administrative Services Fiscal Procedures and Policies Handbook
Develop the handbook to ensure standardization of accounting, budget, investment, procurement policies, procedures, rules and regulations.

Sustainability and Fiscal Strategy

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 10/1/22 12/1/22 Research performed by internal auditor Moss Adams 100

1.3 Execution Phase Complete 12/1/22 3/21/23 Audit results brought to the City Council on March 21, 2023 100

1.4 Closing Processes Complete 3/21/23 3/21/23 Project Complete 100 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last Updated Lead Department
N/A $15,000.00 $15,000.00 $15,000.00 $0.00 11/8/23 Administrative Services
Budget Audit
Audit the Budget and Budget Policies.

Sustainability and Fiscal Strategy

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 11/10/22 2/9/23 Collected data and meeting with school staff 100

1.3 Outreach Complete 11/10/22 5/17/23 Held a total of three community meetings and presented to the Bike Ped Commission in May.
100

1.4 Planning Phase Complete 1/19/23 5/17/23 Developed alternatives 100

1.5 Design Phase Complete 5/17/23 7/19/23 Finalized memo summarizing alternative development process 100

1.6 Closing Processes In Progress 7/19/23 5/7/24 Will be presenting memo on alternatives to the City Council in May 2024
5 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Bicycle Pedestrian Commission $40,000.00 $40,000.00 $40,000.00 $0.00 2/12/24 Public Works Lawson Middle School Bikeway FY 23
Retain consultant to prepare feasibility study which will evaluate alternatives that provide a separated bike path for students riding to Lawson Middle School. Feasibility cost will be $40,000.

Transportation

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 11/2/20 3/1/22 Researched Legal and other requirements if system is leased, sold or City Operated in the future.
100

1.3 Planning Phase In Progress 9/21/21 9/30/24 Original RFP issued on 12/14/21. RFP process was cancelled on 3/3/22 and then re-issued in July 2023. Staff is preparing to present the proposal to the City Council in June 2024.
87 1.4 Closing Processes Future 8/6/24 9/30/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
N/A $181,500.00 $181,500.00 $160,704.00 $20,796.00 2/15/24 Public Works Municipal Water System FY 23
To analyze and recommend options for the continued operation of the system currently and at the end of lease with San Jose Water Company in November 2022.

Sustainability and Fiscal Strategy

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 10/5/22 2/15/23 Research bike rack and installation requirements 100

1.3 Outreach In Progress 10/19/22 4/17/24 Gathering feedback and recommendations from commissions 57

1.4 Planning Phase In Progress 10/5/22 4/17/24 Developing bike rack design and location list 79

1.5 Execution Phase Future 4/17/24 6/30/24 Install bike racks 0

1.6 Closing Processes Future 6/30/24 6/30/24 Project will be complete once bike racks are installed. 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Bicycle Pedestrian
Commission
$50,000.00 $50,000.00 $0.00 $50,000.00 2/21/24 Public Works Bicycle Facilities FY 23
Increase the inventory of bicycle facilities and amenities, such as bike racks, citywide.

Transportation

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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/1/22 9/30/22 Researched 5G ordinance regulations in other cities. 100

1.3 Planning Phase In Progress 4/1/23 9/1/24 Staff is finalizing a municipal code update based on input from City Council at the 12/6/22 CC meeting. This update will govern the installation of wireless small cell facilities within the Public Right of Way. This will go to Council by Summer 2024.
15 1.4 Closing Processes Future 9/1/24 10/15/24 0
Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
N/A $0.00 $0.00 $0.00 $0.00 11/8/23 Public Works
5G Ordinance FY 23
Adopt regulations based on aesthetics.

Quality of Life

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Procurement In Progress 10/9/20 4/30/24 RFP sent out in Oct 2020. Proposals evaluated and RRM Design Group was selected for this project, but was put on hold in October 2023. Staff anticipates bringing new agreement with Placeworks to Council in April 2024.
80 1.3 Execution Phase In Progress 6/1/21 12/30/24 The project had been on hold. Project completion expected December 2024.
50 1.4 Closing Processes In Progress 1/30/24 12/30/24 Complete project 0 Details
Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Planning Commission $240,000.00 $240,000.00 $196,197.22 $43,802.78 3/7/24 Community Development
Residential and Mixed Use Residential Design Standards FY 23 Create objective design standards for residential and mixed-use residential projects, including ensuring adequate buffers from neighboring low-density residential development.

Quality of Life

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 8/3/22 3/1/23 TIC Subcommitte established. Peformed research on event type and possbile speakers
100

1.3 Outreach Complete 3/2/23 6/7/23 A community event aimed to provide cybersecurity education through panel presentations and high school student science fair. 100

1.4 Execution Phase Complete 6/21/23 9/16/23 Complete. Event was held on Sept 16 at Community Hall with roughly 50 attendees.
100

1.5 Closing Processes Complete 9/18/23 9/22/23 Project Complete 100 Details
Project Size Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Small Technology
Information and
Communications
Commission
$7,500.00 $7,500.00 $952.29 $6,547.71 11/8/23 Innovation Technology
Cybersecurity Public Education FY 23
Provide education on cybersecurity to City residents, guests and businesses.

Public Engagement and Transparency

ATTACHMENT A
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Updates
# Task Status Task Start Task End Update % Completed

1.2 Research Complete 7/7/20 12/15/20 Research existing documentation and processes of other jurisdictions.
100

1.3 Outreach Complete 7/7/20 11/5/20 Council Study Session on 7/7/2020 100

1.4 Execution Phase Complete 10/1/20 5/12/21 Prepared materials for hearings 100

1.5 Closing Processes Complete 12/8/20 6/30/23 PC hearing on 1/12/21 with recommendation presented to Council on 2/2/21. Went back to Council on 8/17/21. This item was not prioritized by Council and not continued to FY 23-24.
100
Details
Project Size Commission Estimated Budget Allocated Budget Budget Expended/ Encumbered
Budget Remaining Last
Updated
Lead Department
Small Planning
Commission
$6,500.00 $6,500.00 $1,145.00 $5,355.00 11/8/23 Community Development
General Plan Authorization Process FY 23
Evaluate the existing City Council authorization process for General Plan Amendment projects.

Quality of Life

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CITY OF CUPERTINO
Agenda Item
23-12795 Agenda Date: 3/19/2024
Agenda #: 11.

Subject: The Rise Development Project (formerly Vallco Town Center) update #2 (Dec 5, 2023 Informational Update follow-up)
Receive Rise Development Project Update
CITY OF CUPERTINO Printed on 3/13/2024Page 1 of 1
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CITY COUNCIL INFORMATIONAL MEMORANDUM
Meeting: March 19, 2024

To: Cupertino City Council
From: Pamela Wu, City Manager

Re: The Rise Development Project (formerly Vallco Town Center) update #2 (Dec 5, 2023 Informational Update follow-up)

Background
The Rise Development Project was originally approved in 2018 under Senate Bill 35 (SB 35), which provides for ministerial approval of qualifying housing or mixed-used development projects. In February, the City approved the most recent modification of the project, as discussed below.

Recent City Approval of Modified SB 35 Application
In December 2023, Sand Hill Properties submitted an application under SB 35 to modify the previously approved Rise project (the second modification application submitted since the project was approved in 2018). On February 16, 2024, the City approved the second modification to the Rise Development pursuant to the streamlined, ministerial processes allowed under state law for projects that include a specified percentage of affordable housing units.

In the approved scope, the Rise Development project will include 2,669 residential units, of which 890 units are affordable to lower-income households, and including 47 townhomes, which were not part of the prior approval. In addition, the project includes approximately 1.95 million square feet of office space and approximately 226,000 square feet of street-facing retail space at ground level. The approval documents and approved plans are available online at Cupertino.gov/vallcosb35.

The Rise project is a crucial component of Cupertino's vision of promoting balanced growth, and the long-term strategy to create a more resilient and inclusive community.

The project is consistent with the City’s Housing Element and aligns with anticipated elements of the City’s FY 2024-25 Work Program.

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2 Community Engagement
The City will continue to keep the community well-informed and engaged throughout the development process at the Rise. City staff will continue to provide project information on the City’s website and share email updates with subscribers through Gov Delivery. In addition, staff anticipates providing the City Council quarterly updates on the project.

The developer also plans to communicate with the community through email updates, social media, website updates, and direct contact with immediate neighbors regarding future project activity. Implementing these strategies will help keep the community informed throughout the project's lifecycle.

Environmental Characterization and Clean-up
The developer continues to work with the Santa Clara County Department of Environmental Health (DEH) on site characterization and clean up. DEH has signed off on soil remediation work conducted on the west side of Wolfe Road. DEH oversight of environmental issues at the site is ongoing. Current documents are available to the community on the State of California Water Resources Control Board Geotracker website for the west and east portions of the project.

Next Steps

 February 2024 – Sand Hill completed remedial excavation  May / June 2024 – begin site work to prepare for installation of utilities and infrastructure (estimated duration 3 months)
 November / December 2024 – begin installation of utilities and infrastructure (estimated duration 18 months)

Sustainability Impact
No sustainability impact of this update.

Fiscal Impact
No fiscal impact of this update.

California Environmental Quality Act
Not applicable to this update.

Prepared by: Tina Kapoor, Deputy City Manager
Reviewed by: Matt Morley, Assistant City Manager
Chris Jensen, City Attorney
Approved for Submission by: Pamela Wu, City Manager
Attachments: None
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CITY OF CUPERTINO
Agenda Item
23-1259 Agenda Date: 3/19/2024
Agenda #: 12.

Subject: Receive the Monthly Treasurer's Report for February 2024 Receive the Monthly Treasurer's Report for February 2024 CITY OF CUPERTINO Printed on 3/13/2024Page 1 of 1
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1 CITY COUNCIL STAFF REPORT
Meeting: March 19, 2024

Subject
Receive the Monthly Treasurer's Report for February 2024

Recommended Action
Receive the Monthly Treasurer's Report for February 2024

Reasons for Recommendation
Background
California Government Code Section 41004 states:

Regularly, at least once each month, the city treasurer shall submit to the city clerk a written report and accounting of all receipts, disbursements, and fund balances.

The city treasurer shall file a copy with the legislative body.

The City's Municipal Code Section 2.24.030 Monthly Reports states:

The Treasurer shall make monthly reports which conform to the requirements of Government Code Section 41004. Said reports shall be delivered to the City Council, the City Manager and made available for review by such other person s who may so request.

The Treasurer's Report (report and accounting of all receipts, disbursements, and fund balances) is made available to City Council in compliance with the aforementioned requirements.

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2 Cash vs. Accrual Basis Accounting
Cash basis accounting and accrual basis accounting differ in the way revenues and expenses are recognized and recorded, primarily with regard to their timing.

Under cash basis accounting, revenues are recorded when payment is received, and expenses are recorded when payment is made. This method of accounting recognizes transactions only when cash changes hands. In contrast, accrual basis accounting recognizes revenues when they are earned (but not necessarily received) and expenses when they are incurred (but not necessarily paid). This method of accounting recognizes transactions as they occur, regardless of whether cash has been exchanged.

Receipts, disbursements, and cash balance are measured on a cash basis. The cash balance shows the total cash and investments in the City 's accounts. The ending balance is the beginning balance plus receipts minus disbursements . Journal adjustments generally include transactions recorded in other systems and imported into New World, Council- approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and quarterly interest earnings.

Revenues, expenditures, and fund balance are measured on an accrual basis. As a result, the amount in fund balance does not mean the City has that much cash on hand. Instead, fund balance is the difference between assets and liabilities. The ending balance is the beginning balance plus revenues minus expenditures.

Treasurer's Report
The report provides an update on the City's cash and fund balances for February 2024.

The report is as of March 6, 2024.

Receipts, Disbursements, and Cash Balance
The City's General Fund ending cash and investment balance was $ 155.8 million, increasing by $5.7 million from the prior month. Receipts were $ 8.9 million, disbursements were $(3.3) million, and journal adjustments were $70,000 for the month.

The City's total ending cash and investment balance was $254.7 million, increasing by $5.5 million from the prior month . Receipts were $ 9.4 million, disbursements were $(4.4) million, and journal adjustments were $476,000 for the month.

Journal adjustments included the following:
 Parks and Recreation transactions imported from Active Network into New World
 Worker’s Compensation transfer

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3 Fund Balance/Net Position
The City's General Fund ending fund balance was $ 142.0 million, decreasing by $ 2.3 million from the prior month due to revenues of $ 2.2 million and expenditures of $ 4.6 million.

The City's total ending fund balance was $234.6 million, decreasing by $2.7 million from the prior month due to revenues of $3.1 million and expenditures of $5.9 million.

Sustainability Impact
No sustainability impact.

Fiscal Impact
No fiscal impact.

California Environmental Quality Act
Not applicable.
_____________________________________

Prepared by: __________________
Jonathan Orozco
Finance Manager

Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services

Approved for Submission by: __________________
Pamela Wu
City Manager

Attachments:

A – Report of City-wide Receipts, Disbursements, and Cash Balances February 2024 B – Report of City‐wide Fund Balances/Net Position February 2024

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February 2024 Report of City‐wide Receipts, Disbursements, and Cash Balances Cash and Investments
Beginning Balance Ending Balance
Fund Type Fund Number/Name as of Janaury 31, 2024 Receipts Disbursements Journal Adjustments as of February 29, 2024 General Fund 100 General Fund 150,151,663 8,889,732 (3,293,900) 69,718 155,817,213 General Fund 130 Investment Fund 397,641 ‐ ‐ ‐ 397,641 Special Revenue Funds 210 Storm Drain Improvement 363,989 ‐ ‐ ‐ 363,989 Special Revenue Funds 215 Storm Drain AB1600 1,922,045 1,110 ‐ ‐ 1,923,155 Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 1,007,803 396 (68,545) ‐ 939,654 Special Revenue Funds 260 CDBG 256,370 55,819 (38,297) ‐ 273,892 Special Revenue Funds 261 HCD Loan Rehab 222,016 ‐ ‐ ‐ 222,016 Special Revenue Funds 265 BMR Housing 4,847,072 ‐ (33,042) ‐ 4,814,030 Special Revenue Funds 270 Transportation Fund 14,960,730 278,084 (104,685) ‐ 15,134,129 Special Revenue Funds 271 Traffic Impact 787,442 ‐ ‐ ‐ 787,442 Special Revenue Funds 280 Park Dedication 18,942,000 30,000 (20,760) ‐ 18,951,240 Special Revenue Funds 281 Tree Fund 71,750 ‐ ‐ ‐ 71,750 Debt Service Funds 365 Public Facilities Corp 2,356,550 ‐ ‐ ‐ 2,356,550 Capital Project Funds 420 Capital Improvement Fund 25,523,159 14,365 (105,536) ‐ 25,431,988 Capital Project Funds 427 Stevens Creek Corridor Park 152,641 ‐ (1,247) ‐ 151,394 Capital Project Funds 429 Capital Reserve* 10,365,872 ‐ ‐ ‐ 10,365,872 Enterprise Funds 520 Resource Recovery 4,874,064 123,898 (71,194) ‐ 4,926,768 Enterprise Funds 560 Blackberry Farm 877,684 ‐ (35,844) 27,481 869,321 Enterprise Funds 570 Sports Center 1,196,335 ‐ (63,417) 103,488 1,236,406 Enterprise Funds 580 Recreation Program 3,148,773 5,010 (56,633) 275,530 3,372,680 Internal Service Funds 610 Innovation & Technology 3,226,558 ‐ (303,750) ‐ 2,922,808 Internal Service Funds 620 Workersʹ Compensation 3,541,004 ‐ (5,261) ‐ 3,535,743 Internal Service Funds 630 Vehicle/Equip Replacement 1,383,584 ‐ (66,051) ‐ 1,317,532 Internal Service Funds 641 Compensated Absence/LTD 822,816 ‐ 235 ‐ 823,051 Internal Service Funds 642 Retiree Medical (2,180,566) ‐ (121,131) ‐ (2,301,697) Total 249,218,997$ 9,398,414$ (4,389,060)$ 476,216$ 254,704,568$ * For reporting purposes, this fund rolls up/combines with Fund 420 Printed March 06, 2024
For more information on funds, please see cupertino.org/fund‐structure 683
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February 2024 Report of City‐wide Fund Balances/Net Position Beginning Fund Balance Ending Fund Balance
Fund Type Fund Number/Name as of January 31, 2024 Revenues Expenditures as of February 29, 2024 General Fund 100 General Fund 144,356,924 2,237,384 4,558,129 142,036,179 General Fund 130 Investment Fund 229,425 ‐ ‐ 229,425 Special Revenue Funds 210 Storm Drain Improvement 2,123,134 ‐ ‐ 2,123,134 Special Revenue Funds 215 Storm Drain AB1600 1,872,447 1,110 ‐ 1,873,557 Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 1,940,337 47,732 67,984 1,920,086 Special Revenue Funds 260 CDBG 1,166,510 55,819 38,297 1,184,032 Special Revenue Funds 261 HCD Loan Rehab 222,016 ‐ ‐ 222,016 Special Revenue Funds 265 BMR Housing 5,152,001 ‐ 19,070 5,132,930 Special Revenue Funds 270 Transportation Fund 10,661,290 278,084 104,833 10,834,541 Special Revenue Funds 271 Traffic Impact 770,107 ‐ ‐ 770,107 Special Revenue Funds 280 Park Dedication 18,700,452 15,000 5,768 18,709,684 Special Revenue Funds 281 Tree Fund 78,794 ‐ ‐ 78,794 Debt Service Funds 365 Public Facilities Corp 1,750 ‐ ‐ 1,750 Capital Project Funds 420 Capital Improvement Fund 20,969,061 ‐ 218,873 20,750,188 Capital Project Funds 427 Stevens Creek Corridor Park 157,343 ‐ 1,247 156,096 Capital Project Funds 429 Capital Reserve* 13,744,638 ‐ ‐ 13,744,638 Enterprise Funds 520 Resource Recovery 4,576,957 123,429 125,132 4,575,254 Enterprise Funds 560 Blackberry Farm 686,287 29,224 15,810 699,701 Enterprise Funds 570 Sports Center 1,853,756 219,635 71,898 2,001,494 Enterprise Funds 580 Recreation Program 2,783,407 128,255 72,371 2,839,291 Internal Service Funds 610 Innovation & Technology 1,666,547 ‐ 382,849 1,283,698 Internal Service Funds 620 Workersʹ Compensation 2,125,094 ‐ 5,261 2,119,833 Internal Service Funds 630 Vehicle/Equip Replacement 2,337,267 ‐ 62,219 2,275,048 Internal Service Funds 641 Compensated Absence/LTD 712,616 8,461 8,226 712,851 Internal Service Funds 642 Retiree Medical (1,515,524) ‐ 121,131 (1,636,655) Total 237,372,638$ 3,144,134$ 5,879,098$ 234,637,673$ * For reporting purposes, this fund rolls up/combines with Fund 420 Printed March 06, 2024
For more information on funds, please see cupertino.org/fund‐structure 684
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CITY OF CUPERTINO
Agenda Item
23-12597 Agenda Date: 3/19/2024
Agenda #: 13.

Subject: Receive the Monthly Treasurer's Investment Report for February 2024 Receive the Monthly Treasurer's Investment Report for February 2024 CITY OF CUPERTINO Printed on 3/13/2024Page 1 of 1
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CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending February 29, 2024
City of Cupertino
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SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of February 29, 2024
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SECTION |
Section 1 |
Economic Update
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Economic Update



Recent economic dat a has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market.

Inflationary trends are subsiding, but core levels remain above the Fed’s target. Given the cumulative effects of restrictive monetarypolicy and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.

As expected at the January meeting, the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at a target range of 5.25 - 5.50%. Fed Chair Powell signaled that the federal funds rate is likely at or near its peak, but discounted market expectations of a rate cut in March. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate.

US Treasury rates rose across t he curve in February on higher inflation and a more hawkish Federal Reserve. The 2-year Treasury yield surged 41 basis points to 4.62%, the 5-year Treasury increased 41 basis points to 4.25%, and the 10-year Treasury yield rose 34 basis points to 4.25%. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -37 basis points at February month-end versus -30 basis points at January month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -90 basis points. The inversion between 3-month and 10-year Treasuries narrowed to -113 basis points in February from -146 basis points in January.
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Employment
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 353,000 jobs in January, vastly exceeding consensus expectations of 185,000, and upwardly revised 333,000 jobs in December. Leading sectors included professional and business services, health care, retail trade, and social assistance. The trajectory of job creation has increased, with the three-month moving average payrolls at 289,000 and the six-month moving average at 248,000.

The unemployment rate remained unchanged at 3.7% for the third month, and the labor participation rate was unchanged at 62.5%, remaining below the pre-pandemic level of 63.3%. The U-6 underemploymentrate, which includes those who are marginally attached to the labor force and employed part time for economic reasons rose to 7.2% from 7.1% last month. Average hourly earnings rose 4.5% year- over-year in January, increasing from an upwardly revised 4.3% gain last month. Employment remains strong by historical standards.

Source: US Department of Labor Source: US Department of Labor 4 690
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Inflation

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
Fed Target
YOY (%) Change
The Consumer Price Index (CPI) came in higher than expected in January, increasing 0.3% month-over-monthand 3.1% year-over-year. The Core CPI, which excludes volatile food and energy components, was up 0.4% month-over-monthand 3.9% year-over-year in January.

Shelter costs remain elevated, contributing to more than two-thirds of the overall increase while motor-vehicle insurance and medical care added upward pressure. The Personal Consumption Expenditures (PCE) Index headline inflation increased 0.3% month-over-month and rose 2.4% year-over-year in January. Core PCE, the Federal Reserve’s preferred inflation gauge, increased 0.4% month-over-month and continued its deceleration to 2.8% year-over-year in January from 2.9% year-over-year in December. Spending on services such as housing, utilities, financial services, and healthcare was offset by a large drop in goods purchases. While the trend is moderating, the path to the Fed's 2% inflation target remains uneven.

Source: US Department of Labor Source: US Department of Commerce 5 691
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Federal Reserve
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
As expected at the January meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%. The Fed assesses the progress to achieving its employment and inflation goals are moving into better balance, yet changes to monetary policy remain data dependent. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. However, Fed Chair Powell signaled that the federal funds rate is likely at or near its peak. The futures market is pricing in 5 rate cuts in 2024. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by over $1.3T to approximately $7.6T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
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Bond Yields
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Feb-24
Nov-23
Feb-23
Yield (%)
At the end of February, the 2-year Treasury yield was 20 basis point lower, and the 10-Year Treasury yield was 33 basis points higher, year-over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -37 basis points at February month- end versus -30 basis points at January month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries narrowed to -113 basis points in February from -146 basis points in January. 7 693
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Periodic Table of Asset Class Returns As of February 29, 2024 Index returns as of 2/29/2024. Past performance is not indicative of future results. Index returns assume reinvestment of all distributions and do not reflect fees or expenses. It is not possible to invest directly in an index. This information is not intended to constitute an offer, solicitation, recommendation, or advice regarding securities or investment strategy. Please see attached Asset Class Disclosure. 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD 2024 US Real Estate

30.4%
US Real Estate

2.5%
US Small Cap
Stocks

20.4%
Emerging Market
Stocks

37.3%
International
Bonds

3.2%
US Large Cap
Stocks

31.5%
US Mid Cap
Stocks

19.8%
US Real Estate

43.1%
Diversified
Commodities

26.0%
US Large Cap
Stocks

26.3%
US Large Cap
Stocks

7.1%
US Large Cap
Stocks

13.7%
US Large Cap
Stocks

1.4%
US High Yield
Bonds

17.5%
International
Stocks

25.0%
US Core Bonds

0.0%
US Mid Cap
Stocks

30.6%
US Small Cap
Stocks

19.2%
Diversified
Commodities

40.4%
US High Yield
Bonds
-11.2%
US Small Cap
Stocks

19.1%
Diversified
Commodities

5.4%
US Mid Cap
Stocks

13.4%
International
Bonds

1.3%
US Mid Cap
Stocks

12.6%
US Large Cap
Stocks

21.8%
US High Yield
Bonds
-2.3%
US Small Cap
Stocks

25.9%
US Large Cap
Stocks

18.4%
US Large Cap
Stocks

28.7%
International
Bonds
-12.7%
International
Stocks

18.2%
US Mid Cap
Stocks

4.5%
International
Bonds

9.1%
US Core Bonds

0.6%
US Large Cap
Stocks

12.0%
US Mid Cap
Stocks

20.3%
US Large Cap
Stocks
-4.4%
US Real Estate

25.8%
Emerging Market
Stocks

18.3%
US Mid Cap
Stocks

24.0%
US Core Bonds
-13.3%
US Mid Cap
Stocks

14.5%
International
Stocks

2.4%
US Core Bonds

6.4%
US Mid Cap
Stocks
-0.6%
Diversified
Commodities

11.4%
International
Real Estate

20.0%
US Real Estate
-4.6%
International
Stocks

22.0%
International
Stocks

7.8%
US Small Cap
Stocks

21.1%
International
Stocks
-14.5%
US Real Estate

13.7%
US Small Cap
Stocks

1.0%
US Small Cap
Stocks

6.1%
International
Stocks
-0.8%
Emerging Market
Stocks

11.2%
US Small Cap
Stocks

15.2%
International
Real Estate
-6.4%
International
Real Estate

21.0%
US Core Bonds

7.6%
International
Stocks

11.3%
US Mid Cap
Stocks
-16.9%
US High Yield
Bonds

13.5%
US High Yield
Bonds

0.3%
International
Real Estate

2.8%
International
Real Estate
-3.8%
US Real Estate

8.6%
US High Yield
Bonds

7.5%
US Mid Cap
Stocks
-8.1%
Emerging Market
Stocks

18.4%
US High Yield
Bonds

6.2%
International
Real Estate

8.1%
US Small Cap
Stocks
-17.8%
Emerging Market
Stocks

9.8%
Emerging Market
Stocks
-0.1%
US High Yield
Bonds

2.5%
US Small Cap
Stocks
-4.1%
International
Bonds

4.9%
Diversified
Commodities

5.8%
US Small Cap
Stocks
-11.0%
Diversified
Commodities

17.6%
International
Bonds

4.7%
US High Yield
Bonds

5.4%
US Large Cap
Stocks
-18.1%
International
Bonds

8.7%
International
Bonds
-0.9%
Emerging Market
Stocks
-2.2%
High Yield Bonds
-4.6%
US Core Bonds

2.6%
US Real Estate

5.1%
International
Stocks
-13.8%
US High Yield
Bonds

14.4%
International
Real Estate
-7.1%
US Core Bonds
-1.6%
Emerging Market
Stocks
-20.1%
International
Real Estate

6.3%
US Core Bonds
-1.5%
International
Stocks
-4.9%
Emerging Market
Stocks
-14.9%
International
Real Estate

1.3%
US Core Bonds

3.6%
Diversified
Commodities
-13.8%
US Core Bonds

9.0%
US Real Estate
-7.6%
International
Bonds
-2.1%
International
Real Estate
-24.3%
US Core Bonds

5.4%
US Real Estate
-2.2%
Diversified
Commodities
-33.1%
Diversified
Commodities
-32.9%
International
Stocks

1.0%
International
Bonds

2.6%
Emerging Market
Stocks
-14.6%
International
Bonds

8.1%
Diversified
Commodities
-23.7%
Emerging Market
Stocks
-2.5%
US Real Estate
-24.5%
Diversified
Commodities
-4.3%
International Real
Estate
-8.0%
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Section 2|SECTION |
Section 2 |
Account Profile
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Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Investment Objectives
The City of Cupertino’s investment objectives, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program.

Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed incomes securities consistent with the investment policy and California Government Code.

As of February 29, 2024
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Compliance As of February 29, 2024
Category Standard Comment
Treasury Issues N o L im itation Co mplies
Agency Issues 25% per Agency/GSE issuer; 20% max agency callable securities; Issued by Federal Agencies or U.S. Government Sponsored Enterprise obligations. Co mplies Supranational "AA" rating category or better by a NRSRO; 30% maximum; 10% max per issuer; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB. Complies Municipal Se curitie s
"A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Obligations of the City, State of California, and any local agency within the State of California; Obligations of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a re
venue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 states in addition to California.

Complies
Corporate Medi um Term Notes "A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S. Complies Asset Backed/ Mortgage Backed/
Collate ralize d Mortgage Obligation
"AA" rati ng category or better by a NRSRO; 20% maxi mum; 5% max per i ssuer on Asset-Backed or Commerci al Mortgage securi ty; There i s no i ssuer l i mi tati on on any Mortgage securi ty where the i ssuer i s the U.S. Treasury or a Federal Agency/GSE . Complies Negoti abl e Certi fi cates of Deposi t
(NCDs)
No rating required if amount of the NCD is insured up to the FDIC limit; If above FDIC insured limit, requires "A-1" short-term rated or "A" long-term rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by nationally or state chartered banks, state or federal savings as
sociations, or state or federal credit unions, or by a federally licensed or state-licensed branch of a foreign bank.

Complies
Certi fi cates of Deposi t (CDs)/Ti me
Deposit (TDs)
30% m axim um ; 5% m ax pe r issue r; Ce rtificate s of De posit, Tim e De posit, non-ne gotiable , and collate ralize d in accordance with California Government Code. Complies
Banker’s Acceptances "A-1" short-term rated or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 40% maximum; 5% max per issuer; 180 days max maturity Complies
Commerci al Paper
"A-1" short term rated or better a NRSRO; "A" long-term issuer rating category or better by a NRSRO; 25% maximum; 5% max per issuer; 270 days max maturity; Issued by corporations organized and operating in the U.S. with assets > $500 million; 10% max outstanding paper of the issuing cor
poration.

Complies
Money Market Funds
20% maximum; Daily money market funds administered for or by trustees, paying agents and custodian banks contracted by a City of Cupertino as allowed under California Government Code; Only funds holding U.S. Treasury obligations, Government agency obligations or repurchase agreements co
llateralized by U.S. Treasury or Government agency obligations can be utilized.

Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Co mplies Repurchase Agreements 1 year max maturi ty; 102% col l ateral i zed; A PSA Master Repurchase Agreement i s requi red between Ci ty of Cuperti no and the broke/deal er or financial institution for all repurchase agreements; Not used by investment adviser Complies Prohibited Securities
Reverse Repurchase Agreement; Common stocks; Long-term (> 5 years maturi ty) notes and bonds; Speci al ci rcumstances ari se that necessi tate purchase of securities beyond the 5-year limitation. On such occasions, request must be approved by City Council prior to purchase; Fut
ures/Options; Inverse floaters; Ranges notes, Mortgage-derived, Interest-only strips; Zero interest accrual securities; Purchasing/selling securities on margin; Foreign currency denominated securities.

Complies
Minimum Budgeted Operating
Expenditures in Short Term Investments Minimum 6 months of budgeted operating expenditures in short term investments to provide sufficient liquidity for expected disbursements Complies Max Per Issuer 5% per issuer, unless otherwise specified in the policy Co mplies Maxi mum maturi ty 5 years Co mplies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy. 11 697
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Portfolio Summary – City of Cupertino #10659 As of February 29, 2024 12 698
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Purchase Yield as of 02/29/24 = 2.28%

0.00 0.50

1.00 1.50

2.00 2.50
Percent (%)
Historical Average Purchase Yield
City of Cupertino
As of February 29, 2024
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SECTION |
Section 3 |
Portfolio Holdings
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Issue Name Investment Type % Portfolio
Government of United States US Treasury 35.46%
Federal National Mortgage Association Agency 8.76%
Federal Home Loan Mortgage Corp Agency 3.76%
Federal Home Loan Mortgage Corp Agency CMBS 3.72%
Federal Home Loan Bank Agency 2.27%
Federal Farm Credit Bank Agency 1.86%
American Express ABS Asset Backed Security 1.85%
Royal Bank of Canada Corporate 1.64%
Toyota Motor Corp Corporate 1.59%
JP Morgan Chase & Co Corporate 1.55%
Bank of America Corp Corporate 1.53%
International Finance Corp Supranational 1.53%
Bank of New York Corporate 1.52%
John Deere ABS Asset Backed Security 1.49%
Inter-American Dev Bank Supranational 1.48%
Intl Bank Recon and Development Supranational 1.45%
Toronto Dominion Holdings Corporate 1.41%
Northwestern Mutual Glbl Corporate 1.26%
Paccar Financial Corporate 1.24%
Bank of Montreal Chicago Corporate 1.16%
GM Financial Securitized Term Auto Trust Asset Backed Security 1.13% Amazon.com Inc Corporate 1.12%
Salesforce.com Inc Corporate 1.12%
Honda ABS Asset Backed Security 1.12%
Metlife Inc Corporate 1.12%
Prudential Financial Inc Corporate 1.11%
Hyundai Auto Receivables Asset Backed Security 1.11%
JP Morgan ABS Asset Backed Security 1.09%
Toyota ABS Asset Backed Security 1.08%
Morgan Stanley Corporate 1.08%
Air Products & Chemicals Corporate 1.08%
New York Life Global Funding Corporate 1.06%
United Health Group Inc Corporate 1.05%
Berkshire Hathaway Corporate 0.99%
Guardian Life Global Funding Corporate 0.84%
US Bancorp Corporate 0.80%
Mercedes-Benz Asset Backed Security 0.73%
Caterpillar Inc Corporate 0.70%
Issuers
City of Cupertino – Account #10659
As of February 29, 2024
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Issue Name Investment Type % Portfolio
MasterCard Inc Corporate 0.63%
Mass Mutual Insurance Corporate 0.59%
Charles Schwab Corp/The Corporate 0.58%
Bank of America Credit Card Trust Asset Backed Security 0.55% Cisco Systems Corporate 0.54%
State of California Municipal Bonds 0.49%
Northern Trust Corp Corporate 0.43%
BMW ABS Asset Backed Security 0.29%
Toyota Lease Owner Trust Asset Backed Security 0.27%
Money Market Fund 0.26%
Wal-Mart Stores Corporate 0.21%
GM Financial Automobile Leasing Trust Asset Backed Security 0.16% Hyundai Auto Lease Securitization Asset Backed Security 0.07% Wells Fargo Bank Money Market Fund 0.03%
BMW Vehicle Lease Trust Asset Backed Security 0.02%
Account Receivable Payable Cash 0.00%
TOTAL 100.00%
Issuers
City of Cupertino – Account #10659
As of February 29, 2024
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City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
ABS
44891WAC3 HALST 2022-A A3 1.16 01/15/2025 112,241.90 01/11/2022

1.16%
112,239.42
112,241.29

99.82 3.70%
112,037.73

57.87 0.07%
(203.56)
Aaa/AAA
NA

0.88 0.08
89238LAC4 TLOT 2022-A A3 1.96 02/20/2025 421,973.44 02/23/2022

1.96%
421,907.02
421,954.19

99.54 5.74%
420,020.25
252.72

0.27%
(1,933.94)
NA/AAA
AAA

0.98 0.14
02589BAA8 AMXCA 2022-1 A 2.21 03/17/2025 1,545,000.00 03/21/2022

2.69%
1,524,359.77
1,537,790.06

96.93 5.28%
1,497,497.12
1,517.53

0.98%
(40,292.94)
Aaa/NA
AAA

1.05 1.46
36265MAC9 GMALT 2022-1 A3 1.9 03/20/2025 251,722.74 02/15/2022

1.91%
251,720.58
251,722.12

99.67 5.41%
250,900.47
146.14

0.16%
(821.66)
Aaa/NA
AAA

1.05 0.12
05601XAC3 BMWLT 2022-1 A3 1.03 03/25/2025 28,794.24 01/11/2022

1.12%
28,789.94
28,793.08

99.70 5.55%
28,707.67

5.28 0.02%
(85.41)
NA/AAA
AAA

1.07 0.07
43813GAC5 HAROT 2021-1 A3 0.27 04/21/2025 28,921.18 02/17/2021

0.27%
28,920.65
28,921.08

99.25 5.17%
28,703.45

2.17 0.02%
(217.63)
Aaa/NA
AAA

1.14 0.21
89240BAC2 TAOT 2021-A A3 0.26 05/15/2025 111,875.37 02/02/2021

0.27%
111,854.60
111,871.27

99.32 5.43%
111,117.63

12.93 0.07%
(753.63)
Aaa/NA
AAA

1.21 0.19
02582JJT8 AMXCA 2022-2 A 3.39 05/15/2025 1,375,000.00 05/17/2022

3.42%
1,374,695.85
1,374,822.38

97.85 5.28%
1,345,467.48
2,071.67

0.88%
(29,354.90)
NA/AAA
AAA

1.21 1.60
44933LAC7 HART 2021-A A3 0.38 09/15/2025 103,099.19 04/20/2021

0.39%
103,088.34
103,096.41

99.01 5.21%
102,082.29

17.41 0.07%
(1,014.12)
NA/AAA
AAA

1.54 0.30
43815GAC3 HAROT 2021-4 A3 0.88 01/21/2026 272,719.04 11/16/2021

0.89%
272,661.55
272,695.55

97.34 5.59%
265,471.56

66.66 0.17%
(7,223.99)
Aaa/NA
AAA

1.90 0.71
47789QAC4 JDOT 2021-B A3 0.52 03/16/2026 285,759.52 07/13/2021

0.52%
285,734.03
285,749.73

97.50 5.43%
278,610.30

66.04 0.18%
(7,139.43)
Aaa/NA
AAA

2.04 0.56
89238JAC9 TAOT 2021-D A3 0.71 04/15/2026 261,200.54 11/09/2021

0.71%
261,194.97
261,198.19

97.43 5.42%
254,483.53

82.42 0.17%
(6,714.66)
NA/AAA
AAA

2.13 0.74
43815BAC4 HAROT 2022-1 A3 1.88 05/15/2026 631,684.81 02/15/2022

1.89%
631,589.80
631,639.11

97.57 5.58%
616,339.67
527.81

0.40%
(15,299.44)
Aaa/AAA
NA

2.21 0.86
44935FAD6 HART 2021-C A3 0.74 05/15/2026 776,066.09 --

2.17%
756,443.66
766,779.43

97.64 5.43%
757,784.53
255.24

0.49%
(8,994.90)
NA/AAA
AAA

2.21 0.71
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026 451,574.31 05/10/2022

3.23%
451,550.83
451,561.53

98.45 5.43%
444,593.56
241.59

0.29%
(6,967.98)
Aaa/AAA
NA

2.49 0.98
47787JAC2 JDOT 2022 A3 0.36 09/15/2026 328,880.36 03/10/2022

2.34%
328,807.61
328,841.81

97.82 5.47%
321,717.47
339.11

0.21%
(7,124.34)
Aaa/NA
AAA

2.54 0.81
362554AC1 GMCAR 2021-4 A3 0.68 09/16/2026 220,411.96 10/13/2021

0.68%
220,406.34
220,409.46

96.95 5.33%
213,681.00

62.45 0.14%
(6,728.47)
Aaa/AAA
NA

2.55 0.90
17 703
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City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
448977AD0 HART 2022-A A3 2.22 10/15/2026 864,693.81 03/09/2022

2.23%
864,660.52
864,676.40

97.76 5.53%
845,324.67
853.16

0.55%
(19,351.74)
NA/AAA
AAA

2.63 0.95
380146AC4 GMCAR 2022-1 A3 1.23 11/16/2026 216,939.36 01/11/2022

1.27%
216,920.51
216,929.94

97.19 5.50%
210,841.43
113.89

0.14%
(6,088.51)
NA/AAA
AAA

2.71 0.95
05522RDH8 BACCT 2023-2 A 4.98 11/16/2026 850,000.00 01/24/2024

4.58%
858,798.83
858,497.84
100.27

4.92%
852,296.96
1,881.33

0.56%
(6,200.89)
Aaa/NA
AAA

2.71 2.47
362585AC5 GMCAR 2022-2 A3 3.1 02/16/2027 375,683.12 04/05/2022

3.13%
375,604.61
375,638.59

98.15 5.43%
368,749.48
485.26

0.24%
(6,889.11)
Aaa/AAA
NA

2.97 1.14
47800AAC4 JDOT 2022-B A3 3.74 02/16/2027 655,000.00 07/12/2022

3.77%
654,937.45
654,960.76

98.42 5.17%
644,634.69
1,088.76

0.42%
(10,326.07)
Aaa/NA
AAA

2.97 1.13
47800BAC2 JDOT 2022-C A3 5.09 06/15/2027 1,050,000.00 10/12/2022

5.15%
1,049,918.52
1,049,943.16

99.63 5.42%
1,046,099.46
2,375.33

0.68%
(3,843.70)
Aaa/NA
AAA

3.29 1.41
89231FAD2 TAOT 2023-C A3 5.16 04/17/2028 1,300,000.00 11/21/2023

5.40%
1,294,718.75
1,295,041.02
100.12

5.16%
1,301,508.52
2,981.33

0.85%
6,467.50
NA/AAA
AAA

4.13 2.55
438123AC5 HAROT 2023-4 A3 5.67 06/21/2028 805,000.00 --

5.64%
806,992.67
806,833.00
101.35

5.12%
815,883.44
1,267.88

0.53%
9,050.44
Aaa/NA
AAA

4.31 2.58
58769FAC9 MBART 2023-2 A3 5.95 11/15/2028 1,100,000.00 11/29/2023

5.18%
1,123,289.06
1,121,896.78
101.97

5.17%
1,121,718.84
2,908.89

0.73%
(177.94)
NA/AAA
AAA

4.71 2.86
36268GAD7 GMCAR 2024-1 A3 4.85 12/18/2028 950,000.00 01/23/2024

4.90%
950,074.22
950,072.38

99.65 5.05%
946,721.08
1,919.79

0.62%
(3,351.30)
Aaa/NA
AAA

4.80 3.13
161571HV9 CHAIT 241 A 4.6 01/16/2029 1,690,000.00 01/24/2024

4.61%
1,689,742.61
1,689,746.87

99.40 4.93%
1,679,924.05
3,455.11

1.09%
(9,822.82)
NA/AAA
AAA

4.88 2.71
Total ABS 17,064,240.98 3.60%
17,051,622.72
17,074,323.45

98.96 5.25%
16,882,918.33
25,055.78

10.99%
(191,405.12)
Aaa/AAA
AAA

2.96 1.71
AGENCY
3130A1XJ2 FEDERAL HOME LOAN BANKS 2.875
06/14/2024 1,500,000.00 06/18/2019

1.99%
1,564,890.20
1,503,739.56

99.28 5.36%
1,489,155.03
9,223.96

0.97%
(14,584.53)
Aaa/AA+
AA+

0.29 0.28
3135G0V75 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.75 07/02/2024 1,500,000.00 07/16/2019

1.96%
1,484,895.00
1,498,974.66

98.79 5.35%
1,481,810.25
4,302.08

0.96%
(17,164.41)
Aaa/AA+
AA+

0.34 0.33
3130A2UW4 FEDERAL HOME LOAN BANKS 2.875
09/13/2024 2,000,000.00 09/13/2019

1.82%
2,103,380.00
2,011,108.82

98.74 5.27%
1,974,809.82
26,833.33

1.29%
(36,299.00)
Aaa/AA+
AA+

0.54 0.51
3135G0W66 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.625 10/15/2024 1,975,000.00 --

1.72%
1,965,802.75
1,973,819.17

97.80 5.24%
1,931,464.28
12,124.31

1.26%
(42,354.89)
Aaa/AA+
AA+

0.63 0.60
3135G0X24 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.625 01/07/2025 1,295,000.00 --

1.38%
1,309,953.95
1,297,652.67

97.10 5.13%
1,257,497.33
3,156.56

0.82%
(40,155.34)
Aaa/AA+
AA+

0.86 0.82
18 704
CC 03-19-2024
704 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
3137EAEP0 FEDERAL HOME LOAN MORTGAGE
CORP 1.5 02/12/2025 2,365,000.00 02/13/2020

1.52%
2,363,178.95
2,364,652.75

96.68 5.11%
2,286,552.95
1,872.29

1.49%
(78,099.80)
Aaa/AA+
AA+

0.96 0.92
3135G03U5 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.625 04/22/2025 1,860,000.00 04/22/2020

0.67%
1,856,168.40
1,859,124.03

95.24 4.94%
1,771,518.33
4,165.62

1.15%
(87,605.70)
Aaa/AA+
AA+

1.15 1.11
3135G04Z3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 06/17/2025 2,500,000.00 --

0.50%
2,499,227.30
2,499,854.37

94.63 4.81%
2,365,852.85
2,569.44

1.54%
(134,001.52)
Aaa/AA+
AA+

1.30 1.26
3137EAEU9 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 07/21/2025 1,250,000.00 07/21/2020

0.48%
1,243,775.00
1,248,269.69

94.15 4.76%
1,176,906.71
520.83

0.77%
(71,362.98)
Aaa/AA+
AA+

1.39 1.35
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 2,500,000.00 --

0.47%
2,487,983.75
2,496,326.47

93.69 4.81%
2,342,372.62
156.25

1.53%
(153,953.85)
Aaa/AA+
AA+

1.49 1.44
3137EAEX3 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 09/23/2025 2,500,000.00 --

0.46%
2,489,362.80
2,496,600.37

93.41 4.79%
2,335,129.38
4,114.58

1.52%
(161,470.99)
Aaa/AA+
AA+

1.57 1.52
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 2,500,000.00 --

0.56%
2,492,700.00
2,497,529.87

93.23 4.72%
2,330,748.20
3,958.33

1.52%
(166,781.67)
Aaa/AA+
AA+

1.69 1.64
3133EPC60 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.625 11/15/2027 2,800,000.00 11/09/2023

4.73%
2,789,612.00
2,790,372.79
100.84

4.38%
2,823,461.12
38,130.56

1.84%
33,088.32
Aaa/AA+
AA+

3.71 3.33
Total Agency 26,545,000.00 1.48%
26,650,930.10
26,538,025.22

96.38 4.93%
25,567,278.88
111,128.16

16.65%
(970,746.35)
Aaa/AA+
AA+

1.36 1.29

AGENCY CMBS
3137BFE98 FHMS K-041 A2 3.171 10/25/2024 1,280,404.36 07/01/2021

0.66%
1,377,334.97
1,297,953.56

98.54 5.46%
1,261,708.53
3,383.47

0.82%
(36,245.02)
Aaa/AA+
AAA

0.65 0.56
3137BLMZ8 FHMS K-049 A2 3.01 07/25/2025 1,000,000.00 07/01/2021

0.87%
1,079,687.50
1,026,672.03

97.25 5.12%
972,524.70
2,508.33

0.63%
(54,147.33)
Aaa/AA+
AAA

1.40 1.23
3137BLW95 FHMS K-050 A2 3.334 08/25/2025 950,000.00 11/16/2021

1.22%
1,018,132.81
976,123.46

97.56 5.10%
926,853.44
2,639.42

0.60%
(49,270.02)
Aaa/AA+
AAA

1.49 1.28
3137BM7C4 FHMS K-051 A2 3.308 09/25/2025 440,000.00 03/15/2022

2.32%
453,079.69
445,685.47

97.43 5.06%
428,711.01
1,212.93

0.28%
(16,974.46)
Aaa/AA+
AAA

1.57 1.37
3137BN6G4 FHMS K-053 A2 2.995 12/25/2025 570,000.00 03/15/2022

2.32%
582,001.17
575,699.44

96.72 4.98%
551,320.87
1,422.62

0.36%
(24,378.57)
Aaa/AA+
AAA

1.82 1.58
3137BSP72 FHMS K-058 A2 2.653 08/25/2026 650,000.00 11/12/2021

1.36%
687,451.17
669,248.77

95.04 4.78%
617,778.07
1,437.04

0.40%
(51,470.70)
Aaa/AA+
AAA

2.49 2.31
3137FBBX3 FHMS K-068 A2 3.244 08/25/2027 1,000,000.00 09/28/2022

4.36%
950,664.06
965,075.87

95.44 4.67%
954,428.00
2,703.33

0.62%
(10,647.87)
Aaa/AA+
AA+

3.49 3.16
Total Agency
CMBS 5,890,404.36 1.77%
6,148,351.37
5,956,458.59

97.01 5.06%
5,713,324.62
15,307.15

3.72%
(243,133.97)
Aaa/AA+
AAA

1.77 1.57
19 705
CC 03-19-2024
705 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 1,801.08 --

0.00%
1,801.08
1,801.08

1.00 0.00%
1,801.08

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 1,801.08 0.00%
1,801.08
1,801.08

1.00 0.00%
1,801.08

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00

CORPORATE
89114QCA4 TORONTO-DOMINION BANK 2.65
06/12/2024 1,500,000.00 09/11/2019

2.26%
1,527,255.00
1,501,618.95

99.23 5.36%
1,488,413.28
8,722.92

0.97%
(13,205.67)
A1/A
AA-

0.28 0.28
06367TQW3 BANK OF MONTREAL 0.625
07/09/2024 600,000.00 02/09/2022

1.88%
582,216.00
597,369.83

98.31 5.38%
589,881.73
541.67

0.38%
(7,488.10)
A2/A-
AA-

0.36 0.35
79466LAG9 SALESFORCE INC 0.625 07/15/2024 1,760,000.00 --

0.87%
1,748,937.40
1,758,428.69

98.26 5.32%
1,729,374.63
1,405.56

1.13%
(29,054.07)
A2/A+
NA

0.38 0.36
78013XZU5 ROYAL BANK OF CANADA 2.55
07/16/2024 1,500,000.00 --

2.00%
1,533,359.18
1,503,041.40

98.82 5.69%
1,482,365.56
4,781.25

0.97%
(20,675.84)
A1/A
AA-

0.38 0.37
91159HHX1 US BANCORP 2.4 07/30/2024 1,250,000.00 10/10/2019

2.08%
1,268,262.50
1,251,264.98

98.68 5.62%
1,233,441.20
2,583.33

0.80%
(17,823.78)
A3/A
A

0.42 0.40
009158AV8 AIR PRODUCTS AND CHEMICALS INC

3.35 07/31/2024 1,675,000.00 08/07/2019

2.11%
1,771,212.00
1,678,344.57

99.09 5.56%
1,659,705.66
4,831.91

1.08%
(18,638.91)
A2/A
NA

0.42 0.40
69371RR40 PACCAR FINANCIAL CORP 0.5
08/09/2024 680,000.00 08/03/2021

0.52%
679,632.80
679,946.06

97.92 5.28%
665,872.56
207.78

0.43%
(14,073.50)
A1/A+
NA

0.44 0.43
69371RQ25 PACCAR FINANCIAL CORP 2.15
08/15/2024 370,000.00 08/08/2019

2.19%
369,182.30
369,925.26

98.50 5.48%
364,443.31
353.56

0.24%
(5,481.95)
A1/A+
NA

0.46 0.44
14913Q3B3 CATERPILLAR FINANCIAL SERVICES
CORP 2.15 11/08/2024 1,100,000.00 01/28/2020

1.93%
1,111,517.00
1,101,664.15

97.83 5.38%
1,076,153.75
7,423.47

0.70%
(25,510.40)
A2/A
A+

0.69 0.66
74153WCQ0 PRICOA GLOBAL FUNDING I 1.15
12/06/2024 885,000.00 12/01/2021

1.18%
884,088.45
884,766.70

96.87 5.36%
857,279.82
2,403.02

0.56%
(27,486.88)
Aa3/AA-
AA-

0.77 0.74
89114TZL9 TORONTO-DOMINION BANK 1.45
01/10/2025 700,000.00 03/15/2022

2.78%
674,737.00
692,273.94

96.78 5.31%
677,465.67
1,437.92

0.44%
(14,808.27)
A1/A
NA

0.87 0.83
89236TJT3 TOYOTA MOTOR CREDIT CORP 1.45
01/13/2025 1,215,000.00 01/10/2022

1.50%
1,213,371.90
1,214,527.61

96.81 5.24%
1,176,192.33
2,349.00

0.77%
(38,335.28)
A1/A+
A+

0.87 0.84
64952WEK5

NEW YORK LIFE GLOBAL FUNDING

1.45 01/14/2025 1,680,000.00 01/11/2022

1.49%
1,678,185.60
1,679,471.90

96.72 5.33%
1,624,925.79
3,180.33

1.06%
(54,546.12)
Aaa/AA+
AAA

0.88 0.84
69371RR73 PACCAR FINANCIAL CORP 2.85
04/07/2025 885,000.00 03/31/2022

2.86%
884,769.90
884,915.60

97.62 5.09%
863,902.59
10,089.00

0.56%
(21,013.01)
A1/A+
NA

1.10 1.05
20 706
CC 03-19-2024
706 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
78016EZ59 ROYAL BANK OF CANADA 3.375
04/14/2025 1,050,000.00 04/07/2022

3.39%
1,049,611.50
1,049,855.02

97.95 5.27%
1,028,510.35
13,485.94

0.67%
(21,344.67)
A1/A
AA-

1.12 1.07
06406RBC0 BANK OF NEW YORK MELLON CORP

3.35 04/25/2025 1,370,000.00 04/19/2022

3.35%
1,369,808.20
1,369,926.43

97.79 5.34%
1,339,761.61
16,063.25

0.87%
(30,164.83)
A1/A
AA-

1.15 1.10
06367WB85 BANK OF MONTREAL 1.85
05/01/2025 1,240,000.00 07/23/2021

0.86%
1,285,656.80
1,254,155.60

96.10 5.32%
1,191,629.65
7,646.67

0.78%
(62,525.95)
A2/A-
AA-

1.17 1.12
46647PCH7 JPMORGAN CHASE & CO 0.824
06/01/2025 1,370,000.00 05/24/2021

0.78%
1,371,773.90
1,370,148.90

98.68 5.96%
1,351,945.19
2,822.20

0.88%
(18,203.71)
A1/A-
AA-

1.25 0.25
46647PCK0 JPMORGAN CHASE & CO 0.969
06/23/2025 655,000.00 --

0.95%
655,406.85
655,042.36

98.46 5.92%
644,899.82
1,198.87

0.42%
(10,142.54)
A1/A-
AA-

1.31 0.31
66815L2J7 NORTHWESTERN MUTUAL GLOBAL
FUNDING 4.0 07/01/2025 1,170,000.00 06/27/2022

4.01%
1,169,602.20
1,169,823.24

98.56 5.12%
1,153,122.89
7,800.00

0.75%
(16,700.35)
Aaa/AA+
AAA

1.34 1.27
74153WCM9 PRICOA GLOBAL FUNDING I 0.8
09/01/2025 904,000.00 04/06/2022

3.23%
832,972.72
872,603.88

93.61 5.27%
846,192.42
3,616.00

0.55%
(26,411.47)
Aa3/AA-
AA-

1.51 1.46
06406HCQ0 BANK OF NEW YORK MELLON CORP

3.95 11/18/2025 1,000,000.00 04/05/2022

3.21%
1,024,910.00
1,011,508.81

97.91 5.23%
979,098.93
11,301.39

0.64%
(32,409.88)
A1/A
AA-

1.72 1.61
40139LBC6 GUARDIAN LIFE GLOBAL FUNDING

0.875 12/10/2025 1,400,000.00 --

1.12%
1,385,860.00
1,393,991.33

92.46 5.37%
1,294,454.88
2,756.25

0.84%
(99,536.45)
Aa1/AA+
NA

1.78 1.71
66815L2A6 NORTHWESTERN MUTUAL GLOBAL
FUNDING 0.8 01/14/2026 850,000.00 12/06/2021

1.46%
827,449.50
839,703.24

92.41 5.10%
785,479.37
887.78

0.51%
(54,223.87)
Aaa/AA+
AAA

1.88 1.81
06051GHY8 BANK OF AMERICA CORP 2.015
02/13/2026 600,000.00 05/24/2021

1.06%
620,988.00
605,389.85

96.61 5.71%
579,662.66
604.50

0.38%
(25,727.19)
A1/A-
AA-

1.96 0.92
46647PBK1 JPMORGAN CHASE & CO 2.083
04/22/2026 401,000.00 05/20/2021

1.11%
415,969.33
405,368.24

96.21 5.53%
385,808.68
2,993.10

0.25%
(19,559.55)
A1/A-
AA-

2.15 1.10
6174468Q5 MORGAN STANLEY 2.188
04/28/2026 650,000.00 05/23/2022

4.22%
615,699.50
635,527.06

96.24 5.57%
625,531.96
4,859.18

0.41%
(9,995.11)
A1/A-
A+

2.16 1.11
023135BX3 AMAZON.COM INC 1.0 05/12/2026 1,875,000.00 05/10/2021

1.09%
1,866,900.00
1,871,442.39

92.05 4.85%
1,725,886.11
5,677.08

1.12%
(145,556.28)
A1/AA
AA-

2.20 2.12
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 1,035,000.00 --

1.37%
1,025,051.35
1,030,014.33

92.10 4.97%
953,185.81
3,504.62

0.62%
(76,828.52)
A2/A+
A

2.21 2.12
89236TJK2 TOYOTA MOTOR CREDIT CORP 1.125
06/18/2026 1,385,000.00 06/15/2021

1.13%
1,384,390.60
1,384,720.00

91.77 4.95%
1,271,024.21
3,159.53

0.83%
(113,695.79)
A1/A+
A+

2.30 2.21
06051GJD2 BANK OF AMERICA CORP 1.319
06/19/2026 700,000.00 07/16/2021

1.27%
701,274.00
700,423.18

94.65 5.62%
662,557.76
1,846.60

0.43%
(37,865.43)
A1/A-
AA-

2.30 1.25
57629WDE7 MASSMUTUAL GLOBAL FUNDING II

1.2 07/16/2026 1,000,000.00 08/19/2021

1.15%
1,002,230.00
1,001,081.33

91.08 5.23%
910,819.42
1,500.00

0.59%
(90,261.91)
Aa3/AA+
AA+

2.38 2.28
21 707
CC 03-19-2024
707 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
58989V2D5 MET TOWER GLOBAL FUNDING 1.25
09/14/2026 770,000.00 09/07/2021

1.27%
769,291.60
769,640.37

90.66 5.22%
698,096.81
4,464.93

0.45%
(71,543.55)
Aa3/AA-
AA-

2.54 2.42
931142ER0 WALMART INC 1.05 09/17/2026 350,000.00 09/08/2021

1.09%
349,338.50
349,663.09

91.36 4.69%
319,745.81
1,674.17

0.21%
(29,917.29)
Aa2/AA
AA

2.55 2.45
61690U7W4 MORGAN STANLEY BANK NA 5.882
10/30/2026 1,000,000.00 --

5.88%
1,000,082.50
1,000,073.19
101.84

5.11%
1,018,382.50
19,606.67

0.66%
18,309.31
Aa3/A+
AA-

2.67 2.33
59217GER6 METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027 1,115,000.00 01/03/2022

1.90%
1,113,728.90
1,114,271.87

91.24 5.20%
1,017,375.02
2,903.65

0.66%
(96,896.85)
Aa3/AA-
AA-

2.87 2.72
17275RBQ4 CISCO SYSTEMS INC 4.8 02/26/2027 830,000.00 02/21/2024

4.85%
828,921.00
828,924.94
100.08

4.77%
830,690.55
553.33

0.54%
1,765.61
A1/AA-
NA

2.99 2.75
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 960,000.00 03/01/2022

2.46%
959,729.90
959,835.72

92.69 5.10%
889,855.04
11,629.33

0.58%
(69,980.68)
A2/A-
A

3.01 2.80
084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 1,615,000.00 03/07/2022

2.30%
1,614,693.15
1,614,813.64

93.70 4.54%
1,513,174.98
17,127.97

0.99%
(101,638.66)
Aa2/AA
A+

3.04 2.85
06051GHT9 BANK OF AMERICA CORP 3.559
04/23/2027 1,150,000.00 --

4.29%
1,114,222.54
1,126,123.16

96.18 5.46%
1,106,093.74
14,552.36

0.72%
(20,029.43)
A1/A-
AA-

3.15 2.00
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 670,000.00 05/05/2022

4.03%
668,914.60
669,307.51

97.16 4.97%
650,962.57
8,263.33

0.42%
(18,344.93)
A2/A+
A+

3.19 2.92
91324PEG3 UNITEDHEALTH GROUP INC 3.7
05/15/2027 675,000.00 05/17/2022

3.69%
675,316.70
675,201.69

96.84 4.77%
653,645.83
7,353.75

0.43%
(21,555.86)
A2/A+
A

3.21 2.95
57636QAW4 MASTERCARD INC 4.875
03/09/2028 945,000.00 03/06/2023

4.90%
944,083.35
944,262.97
101.12

4.56%
955,560.66
22,010.62

0.62%
11,297.69
Aa3/A+
NA

4.02 3.47
Total Corporate 44,535,000.00 2.22%
44,570,604.22
44,470,402.98

96.36 5.26%
42,872,573.09
252,173.78

27.92%
(1,597,829.88)
A1/A+
AA-

1.61 1.40

MONEY MARKET
FUND
992995944 WC MMF SWEEP 50,607.29 --

2.85%
50,607.29
50,607.29

1.00 2.85%
50,607.29

0.00 0.03%

0.00 NA/NA
NA

0.00 0.00
VP4520004 WF ADV 100% TREAS MM FD-SVC
CL #008 393,724.13 --

0.01%
393,724.13
393,724.13

1.00 0.01%
393,724.13

0.00 0.26%

0.00 Aaa/
AAAm
NA

0.00 0.00
Total Money
Market Fund 444,331.42 0.33%
444,331.42
444,331.42

1.00 0.33%
444,331.42

0.00 0.29%

0.00 Aaa/AAA
NA

0.00 0.00
22 708
CC 03-19-2024
708 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration

MUNICIPAL
BONDS
13063DRK6 CALIFORNIA ST 2.4 10/01/2024 755,000.00 10/16/2019

1.92%
772,342.35
757,057.24

98.32 5.34%
742,293.35
7,550.00

0.48%
(14,763.89)
Aa2/AA-
AA

0.59 0.56
Total Municipal
Bonds 755,000.00
10/16/2019

1.92%
772,342.35
757,057.24

98.32 5.34%
742,293.35
7,550.00

0.48%
(14,763.89)
Aa2/AA-
AA

0.59 0.56

SUPRANATIONAL
45950KCT5 INTERNATIONAL FINANCE CORP

0.375 07/16/2025 2,500,000.00 05/27/2021

0.66%
2,471,150.00
2,490,383.33

94.02 4.91%
2,350,487.72
1,171.88

1.53%
(139,895.61)
Aaa/AAA
NA

1.38 1.34
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND DEVELOPM

0.5 10/28/2025
2,400,000.00 --

0.60%
2,388,859.25
2,396,067.58

93.18 4.81%
2,236,332.38
4,100.00

1.46%
(159,735.19)
Aaa/AAA
NA

1.66 1.61
4581X0DV7 INTER-AMERICAN DEVELOPMENT
BANK 0.875 04/20/2026 2,460,000.00 04/13/2021

0.97%
2,448,733.20
2,455,187.24

92.39 4.65%
2,272,847.33
7,832.71

1.48%
(182,339.91)
Aaa/AAA
NA

2.14 2.06
Total
Supranational 7,360,000.00 0.74%
7,308,742.45
7,341,638.15

93.21 4.79%
6,859,667.44
13,104.58

4.47%
(481,970.71)
Aaa/AAA
NA

1.72 1.67

US TREASURY
912828XX3 UNITED STATES TREASURY 2.0
06/30/2024 2,000,000.00 --

1.80%
2,018,574.22
2,001,273.03

98.89 5.34%
1,977,890.62
6,703.30

1.29%
(23,382.41)
Aaa/AA+
AA+

0.33 0.33
912797GB7 UNITED STATES TREASURY
07/11/2024 1,000,000.00 07/27/2023

5.41%
950,378.99
981,232.17

98.11 5.33%
981,127.67

0.00 0.64%
(104.50)
P-1/A-1+
F1+

0.36 0.35
912797GK7 UNITED STATES TREASURY
08/08/2024 1,000,000.00 08/30/2023

5.40%
951,232.07
977,251.11

97.72 5.31%
977,193.33

0.00 0.64%
(57.78)
P-1/A-1+
F1+

0.44 0.43
912828D56 UNITED STATES TREASURY 2.375
08/15/2024 1,700,000.00 09/18/2019

1.73%
1,753,191.41
1,704,957.01

98.68 5.29%
1,677,621.10
1,663.80

1.09%
(27,335.91)
Aaa/AA+
AA+

0.46 0.45
912797GL5 UNITED STATES TREASURY
09/05/2024 1,000,000.00 09/25/2023

5.45%
950,526.04
973,040.28

97.37 5.25%
973,732.22

0.00 0.63%
691.94
P-1/A-1+
F1+

0.52 0.50
912828YY0 UNITED STATES TREASURY 1.75
12/31/2024 2,100,000.00 03/15/2022

1.97%
2,087,203.13
2,096,177.23

97.27 5.13%
2,042,660.15
6,158.65

1.33%
(53,517.08)
Aaa/AA+
AA+

0.84 0.81
912828ZC7 UNITED STATES TREASURY 1.125
02/28/2025 1,500,000.00 03/18/2020

0.81%
1,523,144.53
1,504,662.21

96.21 5.06%
1,443,164.07

45.86 0.94%
(61,498.14)
Aaa/AA+
AA+

1.00 0.97
91282CED9 UNITED STATES TREASURY 1.75
03/15/2025 3,100,000.00 --

2.23%
3,057,617.20
3,085,100.97

96.69 5.05%
2,997,433.59
25,038.46

1.95%
(87,667.38)
Aaa/AA+
AA+

1.04 1.00
23 709
CC 03-19-2024
709 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
912828ZL7 UNITED STATES TREASURY 0.375
04/30/2025 2,500,000.00 03/21/2022

2.22%
2,360,839.85
2,447,891.58

94.88 4.94%
2,371,972.65
3,142.17

1.54%
(75,918.92)
Aaa/AA+
AA+

1.17 1.13
91282CAB7 UNITED STATES TREASURY 0.25
07/31/2025 1,500,000.00 03/12/2021

0.72%
1,469,765.63
1,490,224.41

93.77 4.84%
1,406,601.57
309.07

0.92%
(83,622.84)
Aaa/AA+
AA+

1.42 1.38
91282CAM3 UNITED STATES TREASURY 0.25
09/30/2025 2,400,000.00 --

0.56%
2,366,140.63
2,388,287.06

93.16 4.78%
2,235,937.49
2,508.20

1.46%
(152,349.57)
Aaa/AA+
AA+

1.59 1.54
91282CAT8 UNITED STATES TREASURY 0.25
10/31/2025 2,450,000.00 --

0.49%
2,422,492.19
2,440,397.56

92.85 4.76%
2,274,863.27
2,052.88

1.48%
(165,534.29)
Aaa/AA+
AA+

1.67 1.62
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 2,250,000.00 03/26/2021

0.76%
2,209,658.20
2,234,898.41

92.77 4.72%
2,087,402.36
2,120.90

1.36%
(147,496.06)
Aaa/AA+
AA+

1.75 1.70
91282CBH3 UNITED STATES TREASURY 0.375
01/31/2026 2,500,000.00 05/27/2021

0.75%
2,456,445.31
2,482,134.68

92.21 4.66%
2,305,273.45
772.66

1.50%
(176,861.23)
Aaa/AA+
AA+

1.92 1.87
91282CBW0 UNITED STATES TREASURY 0.75
04/30/2026 2,500,000.00 05/27/2021

0.80%
2,493,652.34
2,497,210.98

92.19 4.57%
2,304,785.15
6,284.34

1.50%
(192,425.83)
Aaa/AA+
AA+

2.17 2.10
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 1,400,000.00 10/18/2021

1.19%
1,379,054.68
1,389,069.49

91.33 4.46%
1,278,593.75
5,120.90

0.83%
(110,475.74)
Aaa/AA+
AA+

2.59 2.49
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 1,400,000.00 11/15/2021

1.25%
1,391,468.75
1,395,406.61

91.65 4.48%
1,283,132.82
5,278.85

0.84%
(112,273.80)
Aaa/AA+
AA+

2.67 2.56
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 2,500,000.00 12/28/2023

4.01%
2,525,097.66
2,523,636.34

99.80 4.45%
2,494,921.88
23,010.59

1.62%
(28,714.46)
Aaa/AA+
AA+

2.79 2.58
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 3,250,000.00 --

3.18%
3,260,312.50
3,256,692.38

96.52 4.38%
3,136,884.76
17,700.89

2.04%
(119,807.62)
Aaa/AA+
AA+

3.33 3.10
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 400,000.00 08/22/2022

3.12%
393,218.75
395,309.92

94.86 4.38%
379,437.50
906.59

0.25%
(15,872.42)
Aaa/AA+
AA+

3.42 3.20
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 4,500,000.00 --

3.28%
4,468,902.34
4,478,119.21

95.96 4.38%
4,318,066.40
382.13

2.81%
(160,052.82)
Aaa/AA+
AA+

3.50 3.26
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 3,450,000.00 --

4.31%
3,421,152.34
3,428,999.25

99.19 4.37%
3,422,103.51
59,491.29

2.23%
(6,895.74)
Aaa/AA+
AA+

3.59 3.24
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 850,000.00 12/05/2022

3.81%
852,656.25
851,998.02

98.34 4.36%
835,888.67
8,279.37

0.54%
(16,109.35)
Aaa/AA+
AA+

3.75 3.41
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 2,750,000.00 --

3.67%
2,775,107.42
2,769,549.78

98.33 4.35%
2,704,023.44
17,858.00

1.76%
(65,526.34)
Aaa/AA+
AA+

3.84 3.50
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 3,000,000.00 02/07/2023

3.81%
2,957,929.69
2,966,885.25

97.00 4.34%
2,909,882.82
8,653.85

1.89%
(57,002.43)
Aaa/AA+
AA+

3.92 3.60
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 3,700,000.00 --

4.01%
3,699,113.28
3,699,397.42

98.77 4.34%
3,654,472.65
402.17

2.38%
(44,924.77)
Aaa/AA+
AA+

4.00 3.65
24 710
CC 03-19-2024
710 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
Total US Treasury 56,700,000.00 2.57%
56,194,875.40
56,459,802.34

96.14 4.68%
54,475,066.86
203,884.94

35.47%
(1,984,735.49)
Aaa/AA+
AA+

2.32 2.17
Total Portfolio 159,295,777.84 2.28%
159,143,601.10
159,043,840.47

96.19 4.96%
153,559,255.07
628,204.39
100.00%
(5,484,585.40)
Aa2/AA-
AA

1.97 1.70
Total Market
Value + Accrued 154,187,459.46
25 711
CC 03-19-2024
711 of 721
SECTION |
Section 4 |
Transactions
26 712
CC 03-19-2024
712 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

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

ACQUISITIONS
Purchase 02/01/2024 0.08 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (0.08) 0.00 (0.08) 0.00
Purchase 02/01/2024 3,005.66 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (3,005.66) 0.00 (3,005.66) 0.00 Purchase 02/01/2024 125.97 WC MMF SWEEP 1.000 2.85% (125.97) 0.00 (125.97) 0.00 Purchase 02/09/2024 1,700.00 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (1,700.00) 0.00 (1,700.00) 0.00 Purchase 02/12/2024 17,737.50 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (17,737.50) 0.00 (17,737.50) 0.00 Purchase 02/13/2024 6,045.00 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (6,045.00) 0.00 (6,045.00) 0.00 Purchase 02/15/2024 3,239.17 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (3,239.17) 0.00 (3,239.17) 0.00 Purchase 02/15/2024 436,382.29 WF ADV 100% TREAS MM FD- SVC CL #008 1.000 0.01% (436,382.29) 0.00 (436,382.29) 0.00 Purchase 02/16/2024 49,729.50 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (49,729.50) 0.00 (49,729.50) 0.00 Purchase 02/20/2024 260,224.65 WF ADV 100% TREAS MM FD- SVC CL #008 1.000 0.01% (260,224.65) 0.00 (260,224.65) 0.00 Purchase 02/21/2024 37,844.33 WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% (37,844.33) 0.00 (37,844.33)

0.00 Purchase 02/26/2024 17275RBQ4 830,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 99.870 4.85% (828,921.00) 0.00 (828,921.00) 0.00 Purchase 02/29/2024 152,750.00 WF ADV 100% TREAS MM FD- SVC CL #008 1.000 0.01% (152,750.00) 0.00 (152,750.00) 0.00 Total Purchase 1,798,784.15 (1,797,705.15) 0.00 (1,797,705.15) 0.00 TOTAL ACQUISITIONS 1,798,784.15 (1,797,705.15) 0.00 (1,797,705.15) 0.00

DISPOSITIONS
Sale 02/01/2024 (125.97) WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% 125.97 0.00 125.97 0.00
Sale 02/08/2024 (88.01) WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% 88.01 0.00 88.01 0.00
27 713
CC 03-19-2024
713 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Sale 02/09/2024 (9,380.44) WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% 9,380.44 0.00 9,380.44 0.00
Sale 02/26/2024 (729,640.86) WF ADV 100% TREAS MM FD-
SVC CL #008 1.000 0.01% 729,640.86 0.00 729,640.86 0.00 Total Sale (739,235.28) 739,235.28 0.00 739,235.28 0.00 TOTAL DISPOSITIONS (739,235.28) 739,235.28 0.00 739,235.28 0.00 OTHER

TRANSACTIONS
Coupon 02/01/2024 3137BFE98 0.00 FHMS K-041 A2 3.171
10/25/2024 0.47% 3,391.03 0.00 3,391.03 0.00
Coupon 02/01/2024 3137BLMZ8 0.00 FHMS K-049 A2 3.01
07/25/2025 0.78% 2,508.33 0.00 2,508.33 0.00
Coupon 02/01/2024 3137BLW95 0.00 FHMS K-050 A2 3.334
08/25/2025 1.13% 2,639.42 0.00 2,639.42 0.00
Coupon 02/01/2024 3137BM7C4 0.00 FHMS K-051 A2 3.308
09/25/2025 2.26% 1,212.93 0.00 1,212.93 0.00
Coupon 02/01/2024 3137BN6G4 0.00 FHMS K-053 A2 2.995
12/25/2025 2.28% 1,422.62 0.00 1,422.62 0.00
Coupon 02/01/2024 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 1.35% 1,437.04 0.00 1,437.04 0.00
Coupon 02/01/2024 3137FBBX3 0.00 FHMS K-068 A2 3.244
08/25/2027 4.32% 2,703.33 0.00 2,703.33 0.00
Coupon 02/09/2024 69371RR40 0.00 PACCAR FINANCIAL CORP 0.5 08/09/2024 0.52%
1,700.00 0.00 1,700.00 0.00
Coupon 02/12/2024 3137EAEP0 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

1.52% 17,737.50 0.00 17,737.50 0.00
Coupon 02/13/2024 06051GHY8 0.00 BANK OF AMERICA CORP 2.015 02/13/2026 1.06% 6,045.00 0.00 6,045.00 0.00
Coupon 02/15/2024 89240BAC2 0.00 TAOT 2021-A A3 0.26
05/15/2025 0.28% 32.54 0.00 32.54 0.00
Coupon 02/15/2024 44933LAC7 0.00 HART 2021-A A3 0.38
09/15/2025 0.39% 39.87 0.00 39.87 0.00
28 714
CC 03-19-2024
714 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 02/15/2024 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.53% 140.17 0.00 140.17 0.00
Coupon 02/15/2024 89238JAC9 0.00 TAOT 2021-D A3 0.71
04/15/2026 0.71% 167.67 0.00 167.67 0.00
Coupon 02/15/2024 44935FAD6 0.00 HART 2021-C A3 0.74
05/15/2026 2.96% 522.72 0.00 522.72 0.00
Coupon 02/15/2024 44891WAC3 0.00 HALST 2022-A A3 1.16
01/15/2025 1.17% 164.38 0.00 164.38 0.00
Coupon 02/15/2024 43815BAC4 0.00 HAROT 2022-1 A3 1.88
05/15/2026 1.90% 1,060.39 0.00 1,060.39 0.00
Coupon 02/15/2024 448977AD0 0.00 HART 2022-A A3 2.22
10/15/2026 2.23% 1,705.74 0.00 1,705.74 0.00
Coupon 02/15/2024 47787JAC2 0.00 JDOT 2022 A3 0.36 09/15/2026 2.35% 688.04 0.00 688.04 0.00 Coupon 02/15/2024 47800AAC4 0.00 JDOT 2022-B A3 3.74
02/16/2027 3.77% 2,041.42 0.00 2,041.42 0.00
Coupon 02/15/2024 47800BAC2 0.00 JDOT 2022-C A3 5.09
06/15/2027 5.15% 4,453.75 0.00 4,453.75 0.00
Coupon 02/15/2024 89231FAD2 0.00 TAOT 2023-C A3 5.16
04/17/2028 5.41% 5,590.00 0.00 5,590.00 0.00
Coupon 02/15/2024 58769FAC9 0.00 MBART 2023-2 A3 5.95
11/15/2028 5.16% 5,454.17 0.00 5,454.17 0.00
Coupon 02/15/2024 05522RDH8 0.00 BACCT 2023-2 A 4.98
11/16/2026 4.58% 3,527.50 0.00 3,527.50 0.00
Coupon 02/15/2024 161571HV9 0.00 CHAIT 241 A 4.6 01/16/2029 4.61% 3,239.17 0.00 3,239.17 0.00 Coupon 02/15/2024 912828D56 0.00 UNITED STATES TREASURY

2.375 08/15/2024 1.73% 20,187.50 0.00 20,187.50 0.00
Coupon 02/15/2024 69371RQ25 0.00 PACCAR FINANCIAL CORP 2.15 08/15/2024 2.19% 3,977.50 0.00 3,977.50 0.00
Coupon 02/15/2024 02589BAA8 0.00 AMXCA 2022-1 A 2.21
03/17/2025 2.68% 2,845.38 0.00 2,845.38 0.00
Coupon 02/15/2024 02582JJT8 0.00 AMXCA 2022-2 A 3.39
05/15/2025 3.42% 3,884.38 0.00 3,884.38 0.00
Coupon 02/16/2024 362554AC1 0.00 GMCAR 2021-4 A3 0.68
09/16/2026 0.68% 133.89 0.00 133.89 0.00
29 715
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715 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 02/16/2024 380146AC4 0.00 GMCAR 2022-1 A3 1.23
11/16/2026 1.27% 242.96 0.00 242.96 0.00
Coupon 02/16/2024 362585AC5 0.00 GMCAR 2022-2 A3 3.1
02/16/2027 3.13% 1,007.50 0.00 1,007.50 0.00
Coupon 02/16/2024 36268GAD7 0.00 GMCAR 2024-1 A3 4.85
12/18/2028 4.90% 3,711.60 0.00 3,711.60 0.00
Coupon 02/20/2024 36265MAC9 0.00 GMALT 2022-1 A3 1.9
03/20/2025 1.91% 580.49 0.00 580.49 0.00
Coupon 02/20/2024 89238LAC4 0.00 TLOT 2022-A A3 1.96
02/20/2025 2.00% 924.12 0.00 924.12 0.00
Coupon 02/21/2024 43813GAC5 0.00 HAROT 2021-1 A3 0.27
04/21/2025 0.27% 8.76 0.00 8.76 0.00
Coupon 02/21/2024 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.90% 217.44 0.00 217.44 0.00
Coupon 02/21/2024 438123AC5 0.00 HAROT 2023-4 A3 5.67
06/21/2028 5.63% 3,803.63 0.00 3,803.63 0.00
Coupon 02/25/2024 05601XAC3 0.00 BMWLT 2022-1 A3 1.03
03/25/2025 1.15% 64.85 0.00 64.85 0.00
Coupon 02/25/2024 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.24% 1,296.52 0.00 1,296.52 0.00
Coupon 02/25/2024 3135G05X7 0.00

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025

0.47% 4,687.50 0.00
4,687.50 0.00
Coupon 02/29/2024 912828ZC7 0.00 UNITED STATES TREASURY

1.125 02/28/2025 0.81% 8,437.50 0.00 8,437.50 0.00
Coupon 02/29/2024 91282CFH9 0.00 UNITED STATES TREASURY

3.125 08/31/2027 3.28% 70,312.50 0.00 70,312.50 0.00
Coupon 02/29/2024 91282CGP0 0.00 UNITED STATES TREASURY 4.0 02/29/2028 4.01% 74,000.00 0.00 74,000.00 0.00
Total Coupon 0.00 269,948.75 0.00 269,948.75 0.00
Dividend 02/29/2024 0.00 WC MMF SWEEP 2.85% 7.65 0.00 7.65 0.00 Dividend 02/29/2024 0.00 WF ADV 100% TREAS MM FD-
SVC CL #008 0.01% 1,679.45 0.00 1,679.45 0.00
Total Dividend 0.00 1,687.10 0.00 1,687.10 0.00
30 716
CC 03-19-2024
716 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Management Fee 02/08/2024 CCYUSD (88.01) Cash 0.00% (88.01) 0.00 (88.01) 0.00 Management Fee 02/09/2024 CCYUSD (9,380.44) Cash 0.00% (9,380.44) 0.00 (9,380.44) 0.00 Total Management Fee (9,468.45) (9,468.45) 0.00 (9,468.45) 0.00 Principal Paydown 02/01/2024 3137BFE98 2,860.16 FHMS K-041 A2 3.171 10/25/2024 0.47% 2,860.16 -- 2,860.16 0.00
Principal Paydown 02/15/2024 89240BAC2 38,310.95 TAOT 2021-A A3 0.26 05/15/2025 0.28% 38,310.95 -- 38,310.95 0.00
Principal Paydown 02/15/2024 44933LAC7 22,808.74 HART 2021-A A3 0.38 09/15/2025 0.39% 22,808.74 -- 22,808.74 (0.00)
Principal Paydown 02/15/2024 47789QAC4 37,705.98 JDOT 2021-B A3 0.52 03/16/2026 0.53% 37,705.98 -- 37,705.98 0.00
Principal Paydown 02/15/2024 89238JAC9 22,192.11 TAOT 2021-D A3 0.71 04/15/2026 0.71% 22,192.11 -- 22,192.11 0.00
Principal Paydown 02/15/2024 44935FAD6 71,578.86 HART 2021-C A3 0.74 05/15/2026 3.69% 71,578.86 -- 71,578.86 (0.00)
Principal Paydown 02/15/2024 44891WAC3 57,807.77 HALST 2022-A A3 1.16 01/15/2025 1.17% 57,807.77 -- 57,807.77 (0.00)
Principal Paydown 02/15/2024 43815BAC4 45,160.24 HAROT 2022-1 A3 1.88 05/15/2026 1.90% 45,160.24 -- 45,160.24 (0.00)
Principal Paydown 02/15/2024 448977AD0 57,330.32 HART 2022-A A3 2.22 10/15/2026

2.23% 57,330.32 -- 57,330.32 (0.00)
Principal Paydown 02/15/2024 47787JAC2 27,004.20 JDOT 2022 A3 0.36 09/15/2026 2.35% 27,004.20 -- 27,004.20 (0.00) Principal Paydown 02/16/2024 362554AC1 15,866.07 GMCAR 2021-4 A3 0.68 09/16/2026 0.68% 15,866.07 -- 15,866.07 0.00
Principal Paydown 02/16/2024 380146AC4 14,450.60 GMCAR 2022-1 A3 1.23 11/16/2026 1.27% 14,450.60 -- 14,450.60 (0.00)
Principal Paydown 02/16/2024 362585AC5 14,316.88 GMCAR 2022-2 A3 3.1 02/16/2027 3.13% 14,316.88 -- 14,316.88 0.00
Principal Paydown 02/20/2024 36265MAC9 114,903.33 GMALT 2022-1 A3 1.9 03/20/2025 1.91% 114,903.33 -- 114,903.33 0.00
Principal Paydown 02/20/2024 89238LAC4 143,816.71 TLOT 2022-A A3 1.96 02/20/2025 2.00% 143,816.71 -- 143,816.71 0.00
Principal Paydown 02/21/2024 43813GAC5 10,022.60 HAROT 2021-1 A3 0.27 04/21/2025 0.27% 10,022.60 -- 10,022.60 0.00
31 717
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717 of 721
City of Cupertino | Account #10659 | As of February 29, 2024

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Principal Paydown 02/21/2024 43815GAC3 23,791.90 HAROT 2021-4 A3 0.88 01/21/2026 0.90% 23,791.90 -- 23,791.90 (0.00)
Principal Paydown 02/25/2024 05601XAC3 41,949.05 BMWLT 2022-1 A3 1.03 03/25/2025 1.15% 41,949.05 -- 41,949.05 (0.00)
Principal Paydown 02/25/2024 05602RAD3 33,107.36 BMWOT 2022-A A3 3.21 08/25/2026 3.24% 33,107.36 -- 33,107.36 0.00
Total Principal
Paydown 794,983.83 794,983.83 -- 794,983.83 0.00

TOTAL OTHER
TRANSACTIONS 785,515.38 1,057,151.23 0.00 1,057,151.23 0.00 32 718
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Important Disclosures
2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures . Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits use of the ICE indices and related data on an "as is" basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and licensee's use it at licensee's own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report i s provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively.

Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

As of February 29, 2024
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Asset Class 10-Year Snapshot Disclosure As of February 29, 2024  US Small Cap Stocks – Morgan Stanley Capital International (MSCI) Small Cap 1750 – The MSCI Small Cap 1750 is a market capitalization weighted index that measures the performance of small capitalization U.S. stocks.
 US Mid Cap Stocks – Morgan Stanley Capital International (MSCI) Mid Cap 450 – The MSCI Mid Cap 450 is a market capitalization weighted index that measures the performance of mid-capitalization U.S. stocks.
 US Large Cap Stocks – Standard & Poor’s 500 – The S&P 500 is a market value weighted index of 500 large capitalization stocks. The 500 companies included in the index capture approximately 80% of available U.S. market capitalization.
 International Stocks – Morgan Stanley Capital International (MSCI) EAFE – The MSCI EAFE International Equity Index is a market capitalization weighted index that captures international equity performance of large and mid-cap stocks in the developed stock markets of Europe, Australasia, and the Far East.
 Emerging Market Stocks – Morgan Stanley Capital International (MSCI) Emerging Markets – The MSCI Emerging Markets Index is a market capitalization weighted index that captures equity performance of large and mid-cap stocks across emerging market countries.  U.S. Real Estate – Morgan Stanley Capital International (MSCI) REIT – The MSCI US REIT Index is a free float-adjusted market capitalization index that is comprised of equity REITs. It represents about 99% of the US REIT universe and securities are classified in the REIT sector according to the Global Industry Classification Standard (GICS®). It excludes Mortgage REITs and selected Specialized REITs.
 International Real Estate – S&P Developed Ex-US Property – The S&P Developed Ex-US Property Index is a market capitalization weighted index that captures the performance of a universe of publicly traded property companies based in developing countries outside of the US. The companies included are engaged in real estate related activities, such as property ownership, management, development, rental and investment.
 US Core Bonds – ICE BofA US Corporate, Government, Mortgage – The ICE BofA US Corporate, Government, Mortgage index is a broad measure of US investment grade bond performance, including US Treasuries, agencies, investment-grade corporates and mortgage securities.  US High Yield Bonds – ICE BofA US High Yield – The ICE BofA High Yield Bond Index measures the market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds.  International Bonds – Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value Unhedged USD – Index from 2/1/2013 – current. This index measures the performance of global investment grade debt from 24 local currency markets. This multi- currency benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging markets issuers. S&P Citigroup International Govt Bond – Index from 1/1/2009 – 1/31/2013. This index measures the performance of sovereign bonds of non-U.S. developed countries.
 Diversified Commodities – S&P GSCI Commodity Index – The S&P GSCI Commodity Index is a world production-weighted measure of general commodity price movements and inflation in the world economy. It consists of a basket of physical commodity futures contracts.

Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits the use of ICE Indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representation, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third-party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use is at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend Chandler, or any of its products or services.

Bloomberg® and Bl oomberg Barclays Global Aggregate ex-USD Total Return Index Value Unhedged USD are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by Chandler Asset Management Inc. Bloomberg is not affiliated with Chandler Asset Management Inc., and Bloomberg does not approve, endorse, review, or recommend this product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to this product.

Morgan Stanley Capital International® (MSCI), the MSCI indices are service marks of Morgan Stanley Capital International and its affiliates, and have been licensed for use for certain purposes by Chandler Asset Management Inc. MSCI is not affiliated with Chandler Asset Management Inc., and MSCI does not approve, endorse, review, or recommend these products. MSCI does not guarantee the timeliness, accurateness, or completeness of any data or information relating to these products.

Disclosure: This report is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice.

Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgement.

All investments c ontain risk and may lose value. Fixed income investments are subject to interest rate, credit, and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise.

Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk:
the bond market in general could decline due to economic conditions, especially during periods of rising interest rates. International: Non-US markets may be more volatile due to a variety of factors including less liquidity, transparency and oversight of companies and assets. Values of non-US investments may fluctuate due to changes in currency exchange rates. Non-US companies are also subject to risks that come with political and economic stability that may affect their respective countries. These risks may be greater in emerging market countries. Equities: Investments on equities are subject to risks from stock market fluctuations that occur in response to economic and business developments. 34 720
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Benchmark Disclosures
ICE BofA 1-3 Yr US Treasury & Agency Index
The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

As of February 29, 2024
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Cupertino City CouncilMarch 19, 2024

Cupertino City Council
March 19, 2024