CITY COUNCIL INFORMATIONAL MEMORANDUM
April 4, 2024
To: Cupertino City Council
From: Kristina Alfaro, Director of Administrative Services
Re: Cupertino Public Facilities Corporation Update
The City's external legal counsel submitted an application requesting the reinstatement of Cupertino Public Facilities Corporation's (CPFC) 501(c)(4) status in December.
Subsequently, staff has received confirmation from the IRS acknowledging the receipt of the application. However, as of yet, a determination letter has not been issued.
Once CPFC's 501(c)(4) status is reinstated and Form 990 filings are completed, staff will work towards exemptions from future CPFC Form 990 filings. Additionally, staff has included the required annual board meeting in the November schedule, per CPFC Resolution No. 87-4.
Staff will continue to monitor the progress closely and keep the City Council updated on any developments.
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Prepared by: Jonathan Orozco, Finance Manager
Reviewed by: Kristina Alfaro, Director of Administrative Services Matt Morley, Assistant City Manager
Approved for Submission by: Pamela Wu, City Manager