Agenda packet — La Quinta City Council, August 2, 2022 (part 3 of 5)

A. Full disclosure on Form 700, Statement of Economic Interest, shall be required from the following positions pursuant to Government Code Section 87200:

Designated Positions
 City Attorney
 Assistant and/or Deputy City Attorney(s)
 City Manager
 Assistant and/or Deputy City Manager(s)
 Finance Director/City Treasurer
 Mayor
 Members of the City Council/Financing Authority/Housing Authority
 Members of the Planning Commission
 Members of the Successor Agency to the Dissolved Redevelopment Agency  Candidates for any of the positions above
B. Limited disclosure on Form 700, Statement of Economic Interest, shall be required from the following officeholders pursuant to Government Code Section 87302:

Designated Positions
 Accounting Manager
 Animal Control/Code Compliance Supervisor
 Assistant Construction Manager
 Assistant to the City Manager
 Associate Engineer
 Building Official
 City Clerk
 Community Resources Manager
 Community Resources Analyst
 Construction Manager/Inspections Supervisor
 Deputy City Clerk
 Deputy Director of Facilities
 Director of Business Unit and Housing Development
 Director of Community Resources
 Director of Design and Development
 Director of Public Works / City Engineer
 Financial Services Analyst
302 CLICK HERE to Return to Agenda
Ordinance No. XXX
Amending Section 2.60.020 of the La Quinta Municipal Code Conflict of Interest Code
Adopted: _____________, 2022

Page 3 of 5 ends

 Hub Manager
 Human Resources Analyst
 Human Resources Manager
 Management Analyst
 Marketing Manager
 Members of the Community Services Commission
 Members of the Financial Advisory Commission
 Members of the Housing Commission
 Planning Manager
 Public Safety Analyst
 Public Safety Manager
 Senior Emergency Management Coordinator
 Senior Planner
 Traffic Operations Analyst
SECTION 2. EFFECTIVE DATE: This Ordinance shall be in full force and effect thirty (30) days after its adoption.

SECTION 3. POSTING: The City Clerk shall, within 15 days after passage of this Ordinance, cause it to be posted in at least three public places designated by resolution of the City Council, shall certify to the adoption and posting of this Ordinance, and shall cause this Ordinance and its certification, together with proof of posting to be entered into the permanent record of Ordinances of the City of La Quinta.

SECTION 4. CORRECTIVE AMENDMENTS: the City Council does hereby grant the City Clerk the ability to make minor amendments and corrections of typographical or clerical errors to “Exhibit A” to ensure consistency of all approved text amendments prior to the publication in the La Quinta Municipal Code.

SECTION 5. SEVERABILITY: If any section, subsection, subdivision, sentence, clause, phrase, or portion of this Ordinance is, for any reason, held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance and each and every section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more section, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared unconstitutional.
303 CLICK HERE to Return to Agenda
Ordinance No. XXX
Amending Section 2.60.020 of the La Quinta Municipal Code Conflict of Interest Code
Adopted: _____________, 2022

Page 4 of 5 ends

PASSED, APPROVED and ADOPTED, at a regular meeting of the La Quinta City Council held this _____ day of __________, 2022, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_______________________
LINDA EVANS, Mayor
City of La Quinta, California
ATTEST:
_______________________________
MONIKA RADEVA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
__________________________________
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
304 CLICK HERE to Return to Agenda
Ordinance No. XXX
Amending Section 2.60.020 of the La Quinta Municipal Code Conflict of Interest Code
Adopted: _____________, 2022

Page 5 of 5 ends

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LA QUINTA )
I, MONIKA RADEVA, City Clerk of the City of La Quinta, California, do hereby certify the foregoing to be a full, true, and correct copy of Ordinance No. (enter number) which was introduced at a regular meeting on the (date) day of (month), (year), and was adopted at a regular meeting held on the (date) day of (month), (year), not being less than 5 days after the date of introduction thereof.

I further certify that the foregoing Ordinance was posted in three places within the City of La Quinta as specified in the Rules of Procedure adopted by City Council Resolution No. 2015-023.
_______________________
MONIKA RADEVA, City Clerk
City of La Quinta, California

DECLARATION OF POSTING
I, MONIKA RADEVA, City Clerk of the City of La Quinta, California, do hereby certify that the foregoing ordinance was posted on , pursuant to Council Resolution.
_______________________
MONIKA RADEVA, City Clerk
City of La Quinta, California
305 CLICK HERE to Return to Agenda
306 CLICK HERE to Return to Agenda
www.fppc.ca.gov
FPPC Advice: [email protected] (866.275.3772)

Page 1 of 1 ends

2022 Local Agency Biennial Notice
Name of Agency:

Mailing Address:

Contact Person: Phone No.

Email: Alternate Email:

Accurate disclosure is essential to monitor whether officials have conflicts of interest and to help ensure public trust in government. The biennial review examines current programs to ensure that the agency’s code includes disclosure by those agency officials who make or participate in making governmental decisions.

This agency has reviewed its conflict of interest code and has determined that (check one BOX):
 An amendment is required. The following amendments are necessary:
(Check all that apply.)
 Include new positions
 Revise disclosure categories
 Revise the titles of existing positions
 Delete titles of positions that have been abolished and/or positions that no longer make or participate in making governmental decisions
 Other (describe)
 The code is currently under review by the code reviewing body.  No amendment is required. (If your code is over five years old, amendments may be necessary.)
Verification (to be completed if no amendment is required) This agency’s code accurately designates all positions that make or participate in the making of governmental decisions. The disclosure assigned to those positions accurately requires that all investments, business positions, interests in real property, and sources of income that may foreseeably be affected materially by the decisions made by those holding designated positions are reported. The code includes all other provisions required by Government Code Section 87302.
__________________________________________ _________________________ Signature of Chief Executive Officer Date
All agencies must complete and return this notice regardless of how recently your code was approved or amended. Please return this notice no later than October 3, 2022, or by the date specified by your agency, if earlier, to:
(PLACE RETURN ADDRESS OF CODE REVIEWING BODY HERE)
PLEASE DO NOT RETURN THIS FORM TO THE FPPC.

ATTACHMENT 1

CITY OF LA QUINTA
78495 CALLE TAMPICO
MONIKA RADEVA (760) 777 - 7035
[email protected] N/A
✔
■
■
307 CLICK HERE to Return to Agenda
308 CLICK HERE to Return to Agenda
City of La Quinta
CITY COUNCIL MEETING: July 19, 2022

STAFF REPORT
AGENDA TITLE: APPROVE PILLARS OF THE COMMUNITY AND

DISTINGUISHED ARTISTS AND ATHLETES NOMINATIONS

RECOMMENDATION
Approve the Pillars of the Community and Distinguished Artists and Athletes nominations as recommended by the Community Services Commission.

EXECUTIVE SUMMARY
• In October 2021, Staff opened the nomination window for Pillars of the Community and Distinguished Artists & Athletes.
• Nominations were reviewed by the Community Services Commission (Commission) during the June 13, 2022 meeting.
• Four nominations are being presented for consideration and traditionally the Senior Inspiration Award recipient is also recognized as a Pillar of the Community.

FISCAL IMPACT
The total cost for the plaques recognizing each recipient is $300. Funds are available in the Community Resources Special Events budget (Account No. 101-3003-60149).

BACKGROUND/ANALYSIS
The Pillars of the Community and Distinguished Artists & Athletes awards are distinguished honors meant to recognize La Quinta residents who have made positive impacts in the community. Nominee criteria includes: 1) City residency for a minimum of three years, 2) significant contribution to the development of the City, 3) previous recognition for contribution efforts.

Community members submitted nominations for Brandun Lee and Emmi Von Scherr (Distinguished Athletes), Jason and Nicole McQuaid (Distinguished BUSINESS SESSION ITEM NO. 3
309 CLICK HERE to Return to Agenda
Artists), and Karen Devine (Pillar of the Community). Traditionally, the City also recognizes each year’s Senior Inspiration Award recipient as a Pillar of the Community, this year’s recipient is Victory Grund. Nomination information is outlined in the Pillars of the Community, Distinguished Artists, and Distinguished Athletes nomination form packet (Attachment 1).

At their June 13, 2022 meeting, the Community Services Commission discussed reviewing the criteria and process for the pillars program. Their goal is to increase the number of applicants, conduct heavier recruitment, and raise the significance of the awards. The Commission will discuss their recommendations during the next Commission meeting on September 12, 2022 and present them to Council for consideration soon after.

ALTERNATIVES
Council may deny the recommendations and direct staff to seek additional nominees.

Michael Calderon, Community Resources Analyst
Chris Escobedo, Community Resources Director
Prepared by:

Approved by:

Attachment: 1. Nomination Form Packet
310 CLICK HERE to Return to Agenda
ATTACHMENT 1
311
CLICK HERE to Return to Agenda
312
CLICK HERE to Return to Agenda
Brandun Lee Achievements as a professional:
- Currently the IBO intercontinental super light weight champion - Won the 2021 prospect of the year award by The Ring Magazine - Was on a 15 fight Knockout streak
https://www.ringtv.com/637812-junior-welterweight-contender-brandun-lee-i-cant-wait-to-show-th e-world-who-i-am/
https://www.sacbee.com/sports/article260431437.html
https://www.csusb.edu/inside/article/542896/ring-and-classroom-brandun-lee-strives-inspire-you th-his-community
https://sports.yahoo.com/brandun-lee-1-1-kevin-181209488.html 313 CLICK HERE to Return to Agenda
314 CLICK HERE to Return to Agenda

C A N D I D A T E N O M I N A T I O N F O R M

ATHLETEICHONORS
I hereby support the
nomination of:
______________________
considered for the City of La
Quinta's Athletic Honors
Recognition Program. I
understand that I must be a
La Quinta resident that is
over the age of 18 in order to
offer support of the
candidate.

Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
Name:______________________
Address:____________________
____________________________
For Questions, contact
Jacob Garcia | 760.777.7093
[email protected]
315 CLICK HERE to Return to Agenda
City of La Quinta
Athletic Honors
Recognition Program
The City of La Quinta is proud to be home
to many distinguished sports figures. To
celebrate the accomplishments of these
individuals, an acknowledgment area has
been established on the Civic Center
Campus.

Candidate Requirements

1. All Candidates must be or have been a
resident of La Quinta for a minimum of
three (3) years.

2. Candidate must have received
national, state or local recognition.

3. Candidate must have contributed to
the City of La Quinta's image or served to
benefit La Quinta residents in the field of
sports.

4. This nomination form must be signed
by a minimum of ten (10) La Quinta
Residents, 18 years or older.

All formally recognized sports will be considered
Program Requirements
In order for the candidate to be
considered for the program, the
nominating party must provide:

1. Completed candidate nomination form

2. Copy of resume of achievements

3. Copies or photos of national, state or
local awards received.

4. Copies or photos of any news print or
web media recognition for achievements
in sports.

I would like to nominate the
following person for consideration
for the Athletic Honors Recognition
program:
(Candidate's Information) Please print legibly.

Name: ______________________________
Address:______________________________
______________________________________
Telephone:____________________________
Years of residency: _________ to ________
Please provide the top three (3) bullet points of
the Candidates achievements in the sports.

These bullet points may be used for candidate's
consideration and also included in event
program and other event marketing materials.

1.____________________________________
______________________________________

2.____________________________________
______________________________________

3.____________________________________
______________________________________
Please note that submission of the nomination form does not guarantee approval and entry into the program. All
nomination forms will be reviewed and voted on by the La Quinta City Council. This program is currently offered every two (2) years as nomination forms are received and is
subject to change without notice.

Please give us a brief biography of
the candidate:

Bio must be 65 words or less and may be used for
candidate's consideration and also included in staff report and other event marketing materials.
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
Office Use Only
Received by:______________
Date:____________________
316 CLICK HERE to Return to Agenda
Letter of Recommendation
for EMMI VON SCHERR
Dear Sir/Madam,
It is an absolute pleasure to write this letter of recommendation for Emmi. In addition to being one of the kindest people I have met, Emmi is a bright, positive, talented, and outstanding leader. During the course of her four years here at La Quinta high School, Emmi has been courageous in her journey and generous with those around her. I would characterize Emmi as the best among us. She is very special.

Emmi experienced the Covid school year like everyone else. It was fraught with challenges. To her credit, Emmi accepted the challenges by supporting her peers and teachers. When others were struggling to contribute online via Zoom with black boxes, Emmi found opportunities to interject some positivity and hope wherever possible. When she had to work with groups in breakout rooms, she encouraged and assisted her peers as they struggled with motivation. She never lost sight; as bad as Covid or distance learning was, it was just a moment in the larger picture
This remarkable outlook is not surprising to anyone who knows her. Emmi is a proud member of the Girls Scout where she was recognized for her service and heartfelt leadership. She volunteers to help those in need at Martha’s Kitchen. Martha’s Kitchen focuses on feeding and clothing the homeless. She has a respect and appreciation for diversity, family and community. Emmi comes from a multicultural and multiracial family. Her experiences have afforded her a perspective that most will never enjoy.

As incredible as all of this may be and it is, Emmi maintains a 4.5 grade point average. She continues to challenge herself by taking the most rigorous coursework in high school through our IB and AP courses.

She competes at the highest levels in varsity swim, water polo, and cross country. She is truly an outstanding representation of La Quinta High school, the broader community, and her family. Emmi’s goal is to become a medical doctor. Not surprisingly, she has always taken care of those who cross her path.

She is simply following her calling to service. I could not be more proud of Emmi if she were my own daughter.

I gladly give Emmi my highest recommendation. I strongly encourage you to meet Ms. Emmi VonScherr.

It will be a great investment of your time. After meeting with her, you will be just as impressed with her as am I. Emmi is an incredible young lady. She would be a wonderful addition to any university or organization. Should you have questions regarding this letter or of Emmi, please feel free to contact me at [email protected] or at 760-851-4986.

Respectfully,
Rudy Wilson, Ed.D.

La Quinta High School Principal
Desert Sands USD
August 2021
317 CLICK HERE to Return to Agenda
318 CLICK HERE to Return to Agenda
319
CLICK HERE to Return to Agenda
320 CLICK HERE to Return to Agenda
321 CLICK HERE to Return to Agenda
322 CLICK HERE to Return to Agenda
323
CLICK HERE to Return to Agenda
324
CLICK HERE to Return to Agenda
325 CLICK HERE to Return to Agenda
326 CLICK HERE to Return to Agenda
327 CLICK HERE to Return to Agenda
Victory Grund
Founder of Old Town Artisan Studio; visionary of a dream of creating a place for everyone to enjoy, learn, and experience art. Creator of programs for children, people with disabilities, families, and seniors. Her giving heart has inspired others to donate, expand programs to schools, offer classes, and bring the passion of art to the hearts of thousands.
328 CLICK HERE to Return to Agenda
City of La Quinta
CITY COUNCIL MEETING: July 19, 2022

STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR YEAR ENDED JUNE 30, 2021

RECOMMENDATION
Receive and file the Annual Comprehensive Financial Report for the year ended June 30, 2021.

EXECUTIVE SUMMARY
x California cities must obtain an annual audit of their financial statements by an independent auditor at the close of each fiscal year. x The annual audit produces the Annual Comprehensive Financial Report (ACFR) (Exhibit A) which was issued on June 30, 2022.
x The independent auditors rendered an unmodified (“clean”) opinion; which is the most favorable conclusion.
x The Financial Advisory Commission (FAC) has been provided the ACFR for review and a presentation will be provided on August 10, 2022.

FISCAL IMPACT - None

BACKGROUND/ANALYSIS
At the end of each fiscal year, the City’s financial records are audited by an independent audit firm pursuant to California law. The results (including City background information, statistical data, and detailed financial reports) are compiled and presented in the ACFR.

In the independent auditors’ report (located at the front of the financial section of the ACFR), Eide Bailly Certified Public Accountants issued an “unmodified” opinion on the City’s financial statements for the year ended June 30, 2021, which is the most favorable conclusion. The independent audit involved examining evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and BUSINESS SESSION ITEM NO. 4
329 CLICK HERE to Return to Agenda
estimates made by management, and evaluating the overall financial statement presentation.

Attachment 1, provides a summary of ACFR which is in Exhibit A.

The Financial Advisory Commission has been provided a copy of the ACFR and a presentation will follow on August 10, 2022. In addition, a copy of the ACFR can be found in the Finance section on the City’s website. While the City’s financial statements were presented fairly in all significant aspects, a material weakness in the City’s internal controls over financial reporting was identified for accounting entry adjustments. Entries were fully resolved prior to issuance and additional controls have been implemented to avoid this situation in the future. As in previous years, the ACFR has been submitted to the Government Finance Officers Association (GFOA) award program for excellence in financial reporting.

A Single Audit for fiscal year 2020/21, a separate audit requirement under Federal law for entities that spend $750,000 or more in federal funds during a fiscal year will be issued in September 2022.

ALTERNATIVES
The ACFR and audit are required by State law, therefore, no alternatives are recommended.

Prepared by: Claudia Martinez, Finance Director
Approved by: Jon McMillen, City Manager
Attachment: 1. 2020/21 Annual Comprehensive Financial Report Summary
330 CLICK HERE to Return to Agenda
2020/21 Annual Comprehensive Financial Report
(ACFR) Summary
Summary of ACFR Contents
The 2020/21 ACFR (Exhibit A) contains numerous comprehensive financial reports pertaining to all aspects of the City’s finances and includes financial statements for all City funds (general, special revenue, housing, capital project, internal service, and other fund types). The ACFR also contains information regarding the City’s accounting methods and procedures, and the results of the independent audit. Financial information is conveyed both by major fund type and in a comprehensive manner; thus, the information is somewhat complex to interpret. Because of this, specific detailed information regarding the General Fund year-end budget results for 2020/21 was presented separately at the January 18, 2022 Council meeting.

The Management Discussion and Analysis section (starting on page 4) provides an overview and analysis of the financial statements, which is useful when reading through the ACFR. In addition, the Notes to the Basic Financial Statements (pages 32 to 73) provide a written explanation of accounting methods and year-over-year changes. The Statistical Section (pages 124 to 159) presents a ten-year comparison of City financial, economic, and demographic trends.

Responsibility for both the accuracy and the completeness of all disclosure’s rests with the City of La Quinta. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to fairly present the financial position and results of City operations.

The ACFR was prepared in conformance with Generally Accepted Accounting Principles (GAAP). The City’s financial reporting is based upon all Governmental Accounting Standards Board (GASB) pronouncements; these pronouncements are the most authoritative source of governmental GAAP. Eide Bailly LLP, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the City’s financial statements for the year ended June 30, 2021, which is the most favorable conclusion. While the City’s financial statements were presented fairly in all significant aspects, a material weakness in the City’s internal controls over financial reporting was identified for accounting entry adjustments. The entries were fully resolved prior to the issuance of the ACFR, and the City has already implemented additional controls related to financial reporting to prevent this situation in the future. We believe that the ACFR meets the Certificate of Achievement Program’s requirements and have submitted it to the Government Finance Officers Association (GFOA) to determine its eligibility for another certificate.

ATTACHMENT 1
331 CLICK HERE to Return to Agenda
Significant Changes and Financial Highlights
Governmental Revenues and Expenses
Governmental Activities include twenty-nine (29) individual governmental funds. There are three (3) major governmental funds: the General Fund, one capital project fund, and one special revenue fund. Data from the other twenty-six (26) governmental funds are combined into a single, aggregate presentation.

Key Highlights:
x General Fund’s overall fund balance increased by approximately $18.9 million when compared to the ending balance in 2019/20. This was mostly attributed to taxes, including transient occupancy tax and sales tax, exceeding budget projections, coupled with expenditure savings.
x General Fund Reserves are 100% funded to established target amounts with a combined balance of $47.3 million. Additional reserve funding is anticipated to be approved during the Reserve study to be conducted in FY 2022/23. x The General Fund has no outstanding bond obligations. x At the end of 2020/21, the City had positive balances in all three categories of Net Position (Net Investment in Capital Assets, Restricted and Unrestricted) for the governmental and business-type activities. x Governmental revenues overall increased by $9,437,949 with the major items being attributed to transient occupancy and sales taxes as well as capital grants and contributions used to fund various construction projects. x A majority of General Fund revenues experienced positive variances when compared to the final budget.
x Actual expenses were $1,426,000 lower than the final budget of which $1,209,000 was carried over into 2021/22 for continuing appropriations related to operations. Funds not being carried over are recognized as Unassigned Fund Balance in the General Fund. Capital Improvement Projects (CIP) revenue commitments totaling $13,431,000 are reflected in assigned reserves and operational carryovers are noted in committed reserves.

Governmental Fund Balances
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances. Such information is useful in assessing the City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. The unassigned General Fund balance comprised $24,241,553, or 17%, of the total $142,316,543 balance and represented 49% of total final 2020/21 General Fund budgeted expenditures including transfers and multi-year capital projects.

As of the end of 2020/21, the City's governmental funds reported combined ending fund balances of $185,847,101 as follows:
332 CLICK HERE to Return to Agenda
2020/21 Governmental Fund Balances
When compared to 2019/20, total governmental fund balance increased by $21,684,556. 2019/20 Governmental Fund Balances
General Fund Balances
A year-over-year decrease of $1,988,000 in non-spendable is mainly attributed the 2020/21 Redevelopment Agency loan repayment of $2,591,000 offset by interest earnings of $592,000 resulting in a net decrease of $1,999,000 in Due from Other Governments.

The outstanding loan balance of $30,088,278 is recognized as 80% in the General Fund and 20% in the Housing Authority Fund.

Restricted reserves are limited to funds held in a Section 115 Pension Trust set aside to fund the City’s pension obligations. The trust was initially established in 2018/19 with $6,540,000 and in 2020/21 additional contributions coupled with investment gains caused the trust to increase by $1,132,000.

Committed reserves increased by approximately $7,091,000, resulting from an increase of $3,460,000 in the Capital Replacement Reserve and $4,200,000 in the Economic Disaster Reserve categories and a decrease of about $569,000 in operational carryovers.

An increase of nearly $7,601,000 in assigned reserves was primarily due to an increase in the Measure G sales tax reserve ($6,392,000).

Category General Fund Percent All Other Funds Percent Total Funds Percent Nonspendable 31,487,459 $ 26% 2,875 $ 0.007% 31,490,334 $ 19% Restricted 10,249,738 8% 46,001,248 113% 56,250,986 34% Committed 30,118,800 24% - 0% 30,118,800 18%
Assigned 32,383,017 26% - 0% 32,383,017 20%
Unassigned 19,094,651 15% (5,175,243) -13% 13,919,408 8% TOTAL 123,333,665 $ 100% 40,828,880 $ 100% 164,162,545 $ 100% Category General Fund Percent All Other Funds Percent Total Funds Percent Nonspendable 29,499,520 $ 21% 1,019 $ 0.002% 29,500,539 $ 16% Restricted 11,381,922 8% 46,711,801 107% 58,093,723 31% Committed 37,209,870 26% - 0% 37,209,870 20%
Assigned 39,983,678 28% - 0% 39,983,678 22%
Unassigned 24,241,553 17% (3,182,262) -7% 21,059,291 11% TOTAL 142,316,543 $ 100% 43,530,558 $ 100% 185,847,101 $ 100% 333 CLICK HERE to Return to Agenda
Outstanding Debt
Total governmental activities debt increased by $951,036 from $15,061,429 to $16,012,465. This increase is largely attributed to an increase of $1,044,111 in the City’s net pension liability.

After 2018/19, the Net Pension
Liability is reported as an outstanding
debt and the General Fund has no
outstanding bond obligations.

As of June 30, 2021, the Section 115
Pension Trust had a balance of
$11,381,922. The trust sets aside
monies to fund the City’s pension
obligations. Contributions to the trust are irrevocable and assets are protected from creditors. The purpose of the trust is to address the City’s pension obligations by accumulating assets to reduce the net pension liability. However, assets in the trust are recorded as restricted fund balance until they are transferred to the pension plan (CalPERS).

Additional information on long-term debt can be found in Note 5 of the financial statements, Note 8 describes the City’s Pension Plan, and Note 11 discusses the Section 115 Trust.

Other Post-Employment Benefit Plan (OPEB)
In contrast to the Net Pension Liability, the OPEB Trust established to fund retiree health benefits, had a balance of $1,715,041 which reduces the OPEB liability of $1,815,611 and is reported as an asset balance of $100,570. Additional information on OPEB can be found in Note 10 of the financial statements.

Major Capital Improvements
The Capital Improvement Fund is primarily used to record the expenditures for capital projects. The fund had thirty-eight (38) active Capital Improvement Projects during 2020/21. The five most active projects were:
x SilverRock Infrastructure Improvements ($5,010,000)
x La Quinta Village Complete Streets ($3,024,000)
x SilverRock Event Site ($2,326,000)
x La Quinta X-Park ($2,028,000)
x Washington Street at Fred Waring Street Improvements ($1,264,000) These projects, along with others, leveraged State or Federal grant funds or were significantly supported with Measure G sales tax revenues.

Debt Type: 2020 2021
Capital Leases $ 761,790 $ 459,275
Compensated Absences 888,491 950,309
Net OPEB (Asset) Liability (47,052) 100,570
Net Pension Liability 13,458,200 14,502,311
TOTAL 15,061,429 $ 16,012,465 $
Governmental Activities
334 CLICK HERE to Return to Agenda
Long-term Financial Planning
The City ensures that its long-range goals are met through a variety of Boards and Commissions. Each is comprised of Council appointed residents, may include a City Council representative, and are supported by City staff. In addition, the City has adopted various financial policies and practices with the goal of sustaining a fiscally resilient government over the long-term, improving fiscal sustainability, as well as increasing transparency and encouraging public engagement.

The City has taken a proactive approach to rising pension and public safety costs by building its reserve categories and paying down the City’s pension obligations. The City also continues to collaborate with Riverside County and other regional cities on police services to identify long-term savings. In 2020/21, the General Fund’s overall fund balance increased by approximately $18.9 million when compared to the ending balance in 2019/20, mainly due to revenue increases surpassing budget projections in areas such as transient occupancy taxes and sales tax. As of June 30, 2021, all four of the City’s reserve categories (Cash Flow Reserve, Natural Disaster, Economic Disaster, and Capital Replacement) are fully funded to policy targets.

The City has a mixture of housing and commercial developments under construction, approved housing developments on the horizon, and the Highway 111 Corridor Plan (Plan) continues to be a priority with daily traffic exceeding 40,000 vehicles, and accounting for nearly 80% of the City’s annual sales tax revenue.

The City Council has a history of taking strategic steps to ensure long-term fiscal sustainability of the City, including adopting a structurally balanced budget, funding longterm needs, and maintaining strong reserve levels. Because of these factors, the City has been able to maintain essential services during the pandemic and is prepared to face the next financial crisis.
335 CLICK HERE to Return to Agenda
336 CLICK HERE to Return to Agenda
$118$/&2035(+(16,9(),1$1&,$/5(3257
),6&$/<($5(1'('-81(
3UHSDUHGE\

)LQDQFH'HSDUWPHQW
(;+,%,7$
337 CLICK HERE to Return to Agenda
338 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŶŶƵĂůŽŵƉƌĞŚĞŶƐŝǀĞ&ŝŶĂŶĐŝĂůZĞƉŽƌƚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
WƌĞƉĂƌĞĚǇ͗&ŝŶĂŶĐĞĞƉĂƌƚŵĞŶƚ
339 CLICK HERE to Return to Agenda
340 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
dĂďůĞŽĨŽŶƚĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
/EdZKhdKZz^
d/KE
>ĞƚƚĞƌŽĨdƌĂŶƐŵŝƚƚĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ŝ >ŝƐƚŽĨWƌŝŶĐŝƉĂůKĨĨŝĐĞƌƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ǀŝ KƌŐĂŶŝǌĂƚŝŽŶĂůŚĂƌƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ǀŝŝ ĞƌƚŝĨŝĐĂƚĞŽĨĐŚŝĞǀĞŵĞŶƚĨŽƌ
ǆĐĞůůĞŶĐĞŝŶ&ŝŶĂŶĐŝĂůZĞƉŽƌƚŝŶŐ;'&KͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ǀŝŝŝ &/EE/>^
d/KE
/ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌ͛ƐZĞƉŽƌƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭ DĂŶĂŐĞŵĞŶƚ͛ƐŝƐĐƵƐƐŝŽŶĂŶĚŶĂůǇƐŝƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱ 'ŽǀĞƌŶŵĞŶƚtŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϴ ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϵ ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϬ 'ŽǀĞƌŶŵĞŶƚ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
ĂůĂŶĐĞ^ŚĞĞƚʹ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϭ ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨƚŚĞ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐĂůĂŶĐĞ^ŚĞĞƚƚŽƚŚĞ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϮ ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϯ ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨƚŚĞ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐŽĨ
'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐƚŽƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϰ WƌŽƉƌŝĞƚĂƌǇ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϱ ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶƐĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚEĞƚWŽƐŝƚŝŽŶʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϲ ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϳ &ŝĚƵĐŝĂƌǇ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
^ƚĂƚĞŵĞŶƚŽĨ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘Ϯϵ ^ƚĂƚĞŵĞŶƚŽĨŚĂŶŐĞƐŝŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϬ EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯϮ Z
Yh/Z
^hWW>
D
EdZz/E&KZDd/KE
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ'ĞŶĞƌĂů&ƵŶĚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϰ ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϱ ^ĐŚĞĚƵůĞŽĨWƌŽƉŽƌƚŝŽŶĂƚĞ^ŚĂƌĞŽĨƚŚĞEĞƚWĞŶƐŝŽŶ>ŝĂďŝůŝƚǇʹDŝƐĐĞůůĂŶĞŽƵƐWůĂŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϲ ^ĐŚĞĚƵůĞŽĨWĞŶƐŝŽŶWůĂŶŽŶƚƌŝďƵƚŝŽŶƐʹDŝƐĐĞůůĂŶĞŽƵƐWůĂŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϳ ^ĐŚĞĚƵůĞŽĨŚĂŶŐĞƐŝŶƚŚĞEĞƚKW
>ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿĂŶĚZĞůĂƚĞĚZĂƚŝŽƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϴ ^ĐŚĞĚƵůĞŽĨKW
ŽŶƚƌŝďƵƚŝŽŶƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳϵ EŽƚĞƚŽZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴϬ 341 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
dĂďůĞŽĨŽŶƚĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
KD/E/E'E/E/s/h>&hE^dd
D
Ed^E^,
h>
^
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϴϱ ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϬ ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞƐʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ ^ƚĂƚĞ'ĂƐdĂǆ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϱ >ŝďƌĂƌǇĂŶĚDƵƐĞƵŵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϲ &ĞĚĞƌĂůƐƐŝƐƚĂŶĐĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϳ ^>
^͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϴ >ŝŐŚƚŝŶŐĂŶĚ>ĂŶĚƐĐĂƉŝŶŐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϵϵ YƵŝŵďǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϬ WƵďůŝĐ^ĂĨĞƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϭ ƌƚŝŶWƵďůŝĐWůĂĐĞƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϮ ^ŽƵƚŚŽĂƐƚŝƌYƵĂůŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϯ ϵϯϵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϰ >Ăǁ
ŶĨŽƌĐĞŵĞŶƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϱ DĞĂƐƵƌĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϲ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϳ ϭϯϳϵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϴ ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞƐʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϬϵ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϬ ŝǀŝĐĞŶƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϭ dƌĂŶƐƉŽƌƚĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϮ WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϯ >ŝďƌĂƌǇĞǀĞůŽƉŵĞŶƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϰ ŽŵŵƵŶŝƚǇĞŶƚĞƌ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϱ ^ƚƌĞĞƚ&ĂĐŝůŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϲ WĂƌŬ&ĂĐŝůŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϳ &ŝƌĞ&ĂĐŝůŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϴ ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞƐʹĞďƚ^ĞƌǀŝĐĞ&ƵŶĚƐ
&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϭϵ /ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϭ ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶƐĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚEĞƚWŽƐŝƚŝŽŶ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϮ ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϯ 342 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
dĂďůĞŽĨŽŶƚĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
^dd/^d/>^
d/KE
EĞƚWŽƐŝƚŝŽŶďǇŽŵƉŽŶĞŶƚ;dĂďůĞϭͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϱ ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ;dĂďůĞϮͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϳ ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶʹ'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐ;dĂďůĞϯͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮϵ ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶʹƵƐŝŶĞƐƐͲƚǇƉĞĐƚŝǀŝƚŝĞƐ;dĂďůĞϰͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϭ &ƵŶĚĂůĂŶĐĞƐŽĨ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ;dĂďůĞϱͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϯ ŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐŽĨ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ;dĂďůĞϲͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϱ dĂǆZĞǀĞŶƵĞďǇ^ŽƵƌĐĞ;dĂďůĞϳͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϳ dŽƉϮϱ^ĂůĞƐdĂǆWƌŽĚƵĐĞƌƐ;dĂďůĞϴͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϴ dĂǆĂďůĞ^ĂůĞƐďǇĂƚĞŐŽƌǇ;dĂďůĞϵͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϭ ƐƐĞƐƐĞĚsĂůƵĞŽĨdĂǆĂďůĞWƌŽƉĞƌƚǇ;dĂďůĞϭϬͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϯ ŝƌĞĐƚĂŶĚKǀĞƌůĂƉƉŝŶŐWƌŽƉĞƌƚǇdĂǆZĂƚĞƐ;dĂďůĞϭϭͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϰ WƌŝŶĐŝƉĂůWƌŽƉĞƌƚǇdĂǆƉĂǇĞƌƐ;dĂďůĞϭϮͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϱ WƌŽƉĞƌƚǇdĂǆ>ĞǀŝĞƐĂŶĚŽůůĞĐƚŝŽŶƐ;dĂďůĞϭϯͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϲ ZĂƚŝŽƐŽĨKƵƚƐƚĂŶĚŝŶŐĞďƚďǇdǇƉĞ;dĂďůĞϭϰͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϳ ZĂƚŝŽŽĨ'ĞŶĞƌĂůŽŶĚĞĚĞďƚKƵƚƐƚĂŶĚŝŶŐ;dĂďůĞϭϱͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϰϵ ŝƌĞĐƚĂŶĚKǀĞƌůĂƉƉŝŶŐĞďƚ;dĂďůĞϭϲͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϬ >ĞŐĂůĞďƚDĂƌŐŝŶ/ŶĨŽƌŵĂƚŝŽŶ;dĂďůĞϭϳͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϭ WůĞĚŐĞĚͲZĞǀĞŶƵĞŽǀĞƌĂŐĞ;dĂďůĞϭϴͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϯ ĞŵŽŐƌĂƉŚŝĐĂŶĚ
ĐŽŶŽŵŝĐ^ƚĂƚŝƐƚŝĐƐ;dĂďůĞϭϵͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϰ WƌŝŶĐŝƉĂů
ŵƉůŽǇĞƌƐ;dĂďůĞϮϬͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϱ &ƵůůͲƚŝŵĞŝƚǇ
ŵƉůŽǇĞĞƐ;dĂďůĞϮϭͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϲ KƉĞƌĂƚŝŶŐ/ŶĚŝĐĂƚŽƌƐ;dĂďůĞϮϮͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϳ ĂƉŝƚĂůƐƐĞƚ^ƚĂƚŝƐƚŝĐƐďǇ&ƵŶĐƚŝŽŶ;dĂďůĞϮϯͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϴ ^ĐŚĞĚƵůĞŽĨ/ŶƐƵƌĂŶĐĞŝŶ&ŽƌĐĞ;dĂďůĞϮϰͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϱϵ 343 CLICK HERE to Return to Agenda
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ͘
344 CLICK HERE to Return to Agenda
June 30, 2022
To the Citizens of La Quinta, and the Honorable Mayor and Members of the City Council:

It is with great pleasure that we present to you the Annual Comprehensive Financial Report (ACFR) of the City of La Quinta for the fiscal year ending June 30, 2021. The ACFR has been prepared by the Finance Department for the benefit of City Council members, citizens, investors, grantors, employees, and others who may have an interest in the financial wellbeing of the City.

The ACFR presents information regarding the City’s financial activities. This transmittal letter provides a non-technical summary of the City’s finances, services, achievements, and economic outlook. A more detailed analysis is presented in the Management’s Discussion and Analysis section (MD&A) that immediately follows the independent auditor’s report. The MD&A provides an overview and analysis of the basic financial statements and complements this transmittal.

Responsibility for both the accuracy and the completeness of all disclosures rests with the City of La Quinta. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to fairly present the financial position and results of City operations. Supplementary disclosures are included to summarize the City’s financial activities.

This ACFR was prepared in conformance with Generally Accepted Accounting Principles (GAAP). The City’s financial reporting is based upon all Governmental Accounting Standards Board (GASB) Statements; these pronouncements are the most authoritative source for governmental GAAP. The City is responsible for ensuring an adequate internal control structure is in place. The internal control structure is subject to constant evaluation by the management of the City and annual review by independent auditors. Reviews determine the adequacy of the internal control structure, as well as to determine if the City complied with applicable laws and regulations. In reviewing internal control structures, the cost of a control should not exceed the benefits to be derived, hence the objective is to provide reasonable, rather than absolute assurance, that the financial statements are free of any material misstatements.

Eide Bailly LLP, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the City’s financial statements for the year ended June 30, 2021. This is the most favorable conclusion. The independent auditor’s report is located at the front of the financial section. 345 CLICK HERE to Return to Agenda
The independent audit involved examining evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and estimates made by management, and evaluating the overall financial statement presentation and conformity with GAAP.

Government Profile
The City of La Quinta is located 120 miles east of Los Angeles in the eastern portion of Riverside County known as the Coachella Valley. The City has a permanent population of approximately 42,000, within a boundary of 36 square miles. Each year nearly 18,000 seasonal residents also call La Quinta home from October through May. A natural paradise in the Coachella Valley, the City is nestled between the Santa Rosa and San Bernardino Mountains, is an integral part of the Coachella Valley’s world-renowned resort and retirement area, and is known for its championship golf, festivals and community events, health and wellness, stunning views and spectacular trails.

The City was incorporated in 1982 as a general law City and became a charter city in November 1996. It is governed by a five-member City Council under the Council/Manager form of government. The Mayor is directly elected, serves a two-year term, and represents the City at many public functions; the four Council Members serve four-year terms, with two Council Members elected every two years. The Mayor and Council Members are elected at large and also serve as the Board of Directors of the Housing and Finance Authorities.

The Council appoints the City Manager, who in turn appoints the Directors of the various departments except for the City Attorney who is appointed by the Council. The Finance Director also serves as the City/Housing Authority Treasurer and the City Manager is also the Executive Director of the Housing Authority.

The City provides a range of services, which include street and infrastructure construction and maintenance; community development and planning; affordable housing programs; code compliance; recreational and cultural activities; and operations management.

The City contracts with other government agencies and private entities for specific services, including police and fire protection, library and museum services, water and sewer service, electricity service, public transit, refuse collection, and street sweeping.

The City’s annual operating and capital improvement budgets are adopted by resolutions for the fiscal year that begins July 1st. Separate resolutions are adopted by the City Council and Board of Directors of the Housing and Finance Authorities. 346 CLICK HERE to Return to Agenda

The annual budget is the foundation for the City’s financial planning and control. The budget is prepared by fund, function, department, and line item. Department Directors may transfer line item resources within a division with the approval of the City Manager. The City Manager may authorize transfers between divisions and departments.

Local Economy
According to the State of California Employment Development Department, the unadjusted unemployment rate for La Quinta was 6.5%, which was lower than unadjusted rates for Riverside County’s at 7.3% and higher than the statewide average of 5.4%. Current unemployment rates are greatly impacted by lingering effects of COVID-19, particularly in the hospitality industry.

The City’s dominant industries are tourism, recreation, and retail, with the following being major employers: La Quinta Resort and Club, Desert Sands Unified School District, WalMart Super Center, Costco, Home Depot, Imperial Irrigation District, Lowe’s Home Improvement, Target, and Traditions Golf Club.

Throughout the year La Quinta hosts a variety of multi-generational open-air events and shines in the national spotlight as the area’s only PGA golf tour event in the region with the American Express Golf Tournament. The City also co-hosts Ironman 70.3 Indian Wells La Quinta, which brings over 3,000 athletes and supporters from all over the world to the Coachella Valley. The City’s cultural diversity, values, unique characteristics and attributes are commemorated through artists who showcase their high-quality artwork at the annual fine art event, La Quinta Art Celebration, which is ranked number one in the United States by ArtFair Sourcebook’s Top 100 Fine Art Events.

Substantially or completed projects during 2020/21 included Grocery Outlet and Los Arcos Mexican cuisine in the La Quinta Village shopping center, Lifestream and Nothing Bundt Cakes in the Washington Park Center, Café California and Arroyo’s Café in Old Town La Quinta, and Nativa Silver & Crystals, Happy Tea Café, Sato’s Snacks and Extra Space Storage along the Highway 111 corridor.

Long-term Financial Planning
Sound financial governance and prudent planning continues to be management’s focus. The City has a long history of providing superior service, life enrichment opportunities, and a quality environment to its residents, businesses, and visitors. La Quinta has taken a 347 CLICK HERE to Return to Agenda
proactive approach to rising pension and public safety costs by building its reserve categories and paying down the City’s pension obligations. The City also continues to collaborate with Riverside County and other regional cities on police services to identify long-term savings.

The City ensures that its long-range goals are met through a variety of Boards and Commissions. Each is comprised of Council-appointed residents, may include a City Council representative, and are supported by City staff. In addition, the City has adopted various financial policies and practices with the goal of sustaining a fiscally resilient government over the long-term, assuring fiscal sustainability, as well as increasing transparency and encouraging public engagement.

In 2020/21, the General Fund’s overall fund balance increased by almost $18.9 million when compared to the ending balance in 2019/20, mainly due to revenue increases surpassing budget projections in areas such as transient occupancy taxes and sales tax. As of June 30, 2021, all four of the City’s reserve categories (Cash Flow Reserve, Natural Disaster, Economic Disaster, and Capital Replacement) are fully funded to policy targets.

In June 2021 the City Council adopted a balanced budget without the use of reserves for fiscal year 2021/22. The adopted budget had operating revenues exceeding expenses by $62,840. The 2021/22 budget included sustained funding for essential services, such as police, fire, and maintenance of critical infrastructure.

La Quinta has cultivated a sound foundation of General Fund revenues including sales tax, transient occupancy tax, and property tax. The City was incorporated in 1982 after Proposition 13 was approved (the landmark property tax reform initiative enacted in 1978); as such, the City receives a smaller share of property tax revenue but has also secured additional property tax revenue from the County for fire and library services.

The Future
The City has a mixture of housing and commercial developments under construction. Larger residential developments underway include Carmela, Coral Mountain, Andalusia, PGA West, Tradition, Hideaway, Madison Club, and Rancho Santana and commercial developments include luxury Montage and lifestyle Pendry hotels, Pavilion Palms, and The Peak mixed use development.

Approved housing developments on the horizon include Centre at La Quinta, Palo Verde, Piazza Serena and Diamante. In addition, the City is acquiring land for potential affordable 348 CLICK HERE to Return to Agenda
housing developments to further the City’s goals of fostering mixed-use development, affordable housing, and multi-modal transportation, and development of the Highway 111 Corridor as outline in the General Plan.

The Highway 111 Corridor Plan (Plan) continues to be a priority with daily traffic exceeding 40,000 vehicles, and accounting for nearly 80% of the City’s annual sales tax revenue. The two mile-long, 400-acre regional commercial hub at the center of the City, is being evaluated to create a more connected and walkable environment through the implementation of form-based code (FBC). FBC is anticipated to reshape the corridor by adding mixed-use and infill development and incorporating ever-evolving shopping trends.

Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its ACFR for the fiscal year ended June 30, 2020. This was the twenty-fourth consecutive year that the City received this prestigious award. To be awarded a Certificate of Achievement, the City had to publish an easily readable and efficiently organized ACFR.

A Certificate of Achievement is valid for one year. We believe that our current ACFR continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.

We would like to express our appreciation to the City Council and the Financial Advisory Commission for their ongoing oversight of the financial affairs of the City and their prudent fiscal, economic, and land use policy and direction. We also thank City staff with special appreciation to the Finance Department for their continued effort to provide accurate financial data and the preparation of this report.

Respectfully Submitted,
Jon McMillen, City Manager Claudia Martinez, Finance Director 349 CLICK HERE to Return to Agenda
ǀŝ
&LW\RI/D4XLQWD
/LVWRI3ULQFLSDO2IILFHUV
-XQH
&,7<&281&,/
/LQGD(YDQV0D\RU
5REHUW5DGL0D\RU3UR7HP
.DWKOHHQ)LW]SDWULFN&RXQFLO0HPEHU
-RKQ3HxD&RXQFLO0HPEHU
6WHYH6DQFKH]&RXQFLO0HPEHU
$'0,1,675$7,21
-RQ0F0LOOHQ&LW\0DQDJHU
&ODXGLD0DUWLQH])LQDQFH'LUHFWRU&LW\7UHDVXUHU
&KULVWRSKHU(VFREHGR&RPPXQLW\5HVRXUFHV'LUHFWRU
'DQQ\&DVWUR'HVLJQDQG'HYHORSPHQW'LUHFWRU
%U\DQ0F.LQQH\3XEOLF:RUNV'LUHFWRU&LW\(QJLQHHU
*LOEHUW9LOODOSDQGR'LUHFWRU
%XVLQHVV8QLW+RXVLQJ'HYHORSPHQW

0RQLND5DGHYD&LW\&OHUN
:LOOLDP+,KUNH&LW\$WWRUQH\
350 CLICK HERE to Return to Agenda
ǀŝŝ
351 CLICK HERE to Return to Agenda
ǀŝŝŝ
352 CLICK HERE to Return to Agenda
What inspires you, inspires us. | eidebailly.com
10681 Foothill Blvd., Ste. 300 | Rancho Cucamonga, CA 91730-3831 | T 909.466.4410 | F 909.466.4431 | EOE ϭ
/ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌ͛ƐZĞƉŽƌƚ
dŚĞ,ŽŶŽƌĂďůĞDĂǇŽƌĂŶĚDĞŵďĞƌƐŽĨŝƚǇŽƵŶĐŝů
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ZĞƉŽƌƚŽŶƚŚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
tĞŚĂǀĞĂƵĚŝƚĞĚƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ͕ďƵƐŝŶĞƐƐͲƚǇƉĞ ĂĐƚŝǀŝƚŝĞƐ͕ĞĂĐŚŵĂũŽƌĨƵŶĚ͕ĂŶĚƚŚĞĂŐŐƌĞŐĂƚĞƌĞŵĂŝŶŝŶŐĨƵŶĚŝŶĨŽƌŵĂƚŝŽŶŽĨƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ ĂůŝĨŽƌŶŝĂ͕;ŝƚǇͿ͕ĂƐŽĨĂŶĚĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĂŶĚƚŚĞƌĞůĂƚĞĚŶŽƚĞƐƚŽƚŚĞĨŝŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͕ǁŚŝĐŚĐŽůůĞĐƚŝǀĞůǇĐŽŵƉƌŝƐĞƚŚĞŝƚǇ͛ƐďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐůŝƐƚĞĚŝŶƚŚĞƚĂďůĞŽĨ ĐŽŶƚĞŶƚƐ͘
DĂŶĂŐĞŵĞŶƚ͛ƐZĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƚŚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ DĂŶĂŐĞŵĞŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞƉƌĞƉĂƌĂƚŝŽŶĂŶĚĨĂŝƌƉƌĞƐĞŶƚĂƚŝŽŶŽĨƚŚĞƐĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶ ĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂ͖ƚŚŝƐŝŶĐůƵĚĞƐ ƚŚĞĚĞƐŝŐŶ͕ŝŵƉůĞŵĞŶƚĂƚŝŽŶ͕ĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƌĞůĞǀĂŶƚƚŽƚŚĞƉƌĞƉĂƌĂƚŝŽŶĂŶĚĨĂŝƌ ƉƌĞƐĞŶƚĂƚŝŽŶŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌ ĞƌƌŽƌ͘
ƵĚŝƚŽƌ͛ƐZĞƐƉŽŶƐŝďŝůŝƚǇ
KƵƌƌĞƐƉŽŶƐŝďŝůŝƚǇŝƐƚŽĞǆƉƌĞƐƐŽƉŝŶŝŽŶƐŽŶƚŚĞƐĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐďĂƐĞĚŽŶŽƵƌĂƵĚŝƚ͘tĞ ĐŽŶĚƵĐƚĞĚŽƵƌĂƵĚŝƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƵĚŝƚŝŶŐƐƚĂŶĚĂƌĚƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨ ŵĞƌŝĐĂĂŶĚƚŚĞƐƚĂŶĚĂƌĚƐĂƉƉůŝĐĂďůĞƚŽĨŝŶĂŶĐŝĂůĂƵĚŝƚƐĐŽŶƚĂŝŶĞĚŝŶ'ŽǀĞƌŶŵĞŶƚƵĚŝƚŝŶŐ^ƚĂŶĚĂƌĚƐ͕ ŝƐƐƵĞĚďǇƚŚĞŽŵƉƚƌŽůůĞƌ'ĞŶĞƌĂůŽĨƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐ͘dŚŽƐĞƐƚĂŶĚĂƌĚƐƌĞƋƵŝƌĞƚŚĂƚǁĞƉůĂŶĂŶĚ ƉĞƌĨŽƌŵƚŚĞĂƵĚŝƚƚŽŽďƚĂŝŶƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĂďŽƵƚǁŚĞƚŚĞƌƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞĨƌĞĞĨƌŽŵ ŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͘
ŶĂƵĚŝƚŝŶǀŽůǀĞƐƉĞƌĨŽƌŵŝŶŐƉƌŽĐĞĚƵƌĞƐƚŽŽďƚĂŝŶĂƵĚŝƚĞǀŝĚĞŶĐĞĂďŽƵƚƚŚĞĂŵŽƵŶƚƐĂŶĚĚŝƐĐůŽƐƵƌĞƐŝŶ ƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞƉƌŽĐĞĚƵƌĞƐƐĞůĞĐƚĞĚĚĞƉĞŶĚŽŶƚŚĞĂƵĚŝƚŽƌ͛ƐũƵĚŐŵĞŶƚ͕ŝŶĐůƵĚŝŶŐƚŚĞ ĂƐƐĞƐƐŵĞŶƚŽĨƚŚĞƌŝƐŬƐŽĨŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌ ĞƌƌŽƌ͘/ŶŵĂŬŝŶŐƚŚŽƐĞƌŝƐŬĂƐƐĞƐƐŵĞŶƚƐ͕ƚŚĞĂƵĚŝƚŽƌĐŽŶƐŝĚĞƌƐŝŶƚĞƌŶĂůĐŽŶƚƌŽůƌĞůĞǀĂŶƚƚŽƚŚĞĞŶƚŝƚǇ͛Ɛ ƉƌĞƉĂƌĂƚŝŽŶĂŶĚĨĂŝƌƉƌĞƐĞŶƚĂƚŝŽŶŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶŽƌĚĞƌƚŽĚĞƐŝŐŶĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƚŚĂƚ ĂƌĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͕ďƵƚŶŽƚĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĞǆƉƌĞƐƐŝŶŐĂŶŽƉŝŶŝŽŶŽŶƚŚĞ ĞĨĨĞĐƚŝǀĞŶĞƐƐŽĨƚŚĞĞŶƚŝƚǇ͛ƐŝŶƚĞƌŶĂůĐŽŶƚƌŽů͘ĐĐŽƌĚŝŶŐůǇ͕ǁĞĞǆƉƌĞƐƐŶŽƐƵĐŚŽƉŝŶŝŽŶ͘ŶĂƵĚŝƚĂůƐŽ ŝŶĐůƵĚĞƐĞǀĂůƵĂƚŝŶŐƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐƵƐĞĚĂŶĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨ ƐŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐĞƐƚŝŵĂƚĞƐŵĂĚĞďǇŵĂŶĂŐĞŵĞŶƚ͕ĂƐǁĞůůĂƐĞǀĂůƵĂƚŝŶŐƚŚĞŽǀĞƌĂůůƉƌĞƐĞŶƚĂƚŝŽŶŽĨ ƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝƐƐƵĨĨŝĐŝĞŶƚĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌ ŽƵƌĂƵĚŝƚŽƉŝŶŝŽŶƐ͘
353 CLICK HERE to Return to Agenda
Ϯ
KƉŝŶŝŽŶƐ
/ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞĨĞƌƌĞĚƚŽĂďŽǀĞƉƌĞƐĞŶƚĨĂŝƌůǇ͕ŝŶĂůůŵĂƚĞƌŝĂůƌĞƐƉĞĐƚƐ͕ƚŚĞ ƌĞƐƉĞĐƚŝǀĞĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶŽĨƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ͕ďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͕ĞĂĐŚŵĂũŽƌĨƵŶĚ͕ ĂŶĚƚŚĞĂŐŐƌĞŐĂƚĞƌĞŵĂŝŶŝŶŐĨƵŶĚŝŶĨŽƌŵĂƚŝŽŶŽĨƚŚĞŝƚǇ͕ĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĂŶĚƚŚĞƌĞƐƉĞĐƚŝǀĞ ĐŚĂŶŐĞƐŝŶĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶ͕ĂŶĚ͕ǁŚĞƌĞĂƉƉůŝĐĂďůĞ͕ĐĂƐŚĨůŽǁƐƚŚĞƌĞŽĨĨŽƌƚŚĞǇĞĂƌƚŚĞŶĞŶĚĞĚŝŶ ĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂ͘ KƚŚĞƌDĂƚƚĞƌƐ
ZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ
ĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂƌĞƋƵŝƌĞƚŚĂƚƚŚĞŵĂŶĂŐĞŵĞŶƚ͛Ɛ ĚŝƐĐƵƐƐŝŽŶĂŶĚĂŶĂůǇƐŝƐ͕ƐĐŚĞĚƵůĞŽĨƚŚĞŝƚǇ͛ƐƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͕ƐĐŚĞĚƵůĞ ŽĨƉĞŶƐŝŽŶƉůĂŶĐŽŶƚƌŝďƵƚŝŽŶƐ͕ƐĐŚĞĚƵůĞŽĨĐŚĂŶŐĞƐŝŶƚŚĞŶĞƚKW ůŝĂďŝůŝƚǇͬ;ĂƐƐĞƚͿĂŶĚƌĞůĂƚĞĚƌĂƚŝŽƐ͕
ƐĐŚĞĚƵůĞŽĨKW
ĐŽŶƚƌŝďƵƚŝŽŶƐ͕ĂŶĚƚŚĞďƵĚŐĞƚĂƌǇĐŽŵƉĂƌŝƐŽŶƐĐŚĞĚƵůĞƐĨŽƌƚŚĞ'ĞŶĞƌĂů&ƵŶĚĂŶĚ ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇƐƉĞĐŝĂůƌĞǀĞŶƵĞĨƵŶĚĂŶĚƚŚĞƌĞůĂƚĞĚŶŽƚĞƐ͕ĂƐůŝƐƚĞĚŽŶƚŚĞƚĂďůĞŽĨĐŽŶƚĞŶƚƐ͕ďĞ ƉƌĞƐĞŶƚĞĚƚŽƐƵƉƉůĞŵĞŶƚƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘^ƵĐŚŝŶĨŽƌŵĂƚŝŽŶ͕ĂůƚŚŽƵŐŚŶŽƚĂƉĂƌƚŽĨƚŚĞ ďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŝƐƌĞƋƵŝƌĞĚďǇƚŚĞ'ŽǀĞƌŶŵĞŶƚĂůĐĐŽƵŶƚŝŶŐ^ƚĂŶĚĂƌĚƐŽĂƌĚ͕ǁŚŽĐŽŶƐŝĚĞƌƐ ŝƚƚŽďĞĂŶĞƐƐĞŶƚŝĂůƉĂƌƚŽĨĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĨŽƌƉůĂĐŝŶŐƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĂŶ ĂƉƉƌŽƉƌŝĂƚĞŽƉĞƌĂƚŝŽŶĂů͕ĞĐŽŶŽŵŝĐ͕ŽƌŚŝƐƚŽƌŝĐĂůĐŽŶƚĞǆƚ͘tĞŚĂǀĞĂƉƉůŝĞĚĐĞƌƚĂŝŶůŝŵŝƚĞĚƉƌŽĐĞĚƵƌĞƐƚŽ ƚŚĞƌĞƋƵŝƌĞĚƐƵƉƉůĞŵĞŶƚĂƌǇŝŶĨŽƌŵĂƚŝŽŶŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƵĚŝƚŝŶŐƐƚĂŶĚĂƌĚƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶ ƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂ͕ǁŚŝĐŚĐŽŶƐŝƐƚĞĚŽĨŝŶƋƵŝƌŝĞƐŽĨŵĂŶĂŐĞŵĞŶƚĂďŽƵƚƚŚĞŵĞƚŚŽĚƐŽĨ ƉƌĞƉĂƌŝŶŐƚŚĞŝŶĨŽƌŵĂƚŝŽŶĂŶĚĐŽŵƉĂƌŝŶŐƚŚĞŝŶĨŽƌŵĂƚŝŽŶĨŽƌĐŽŶƐŝƐƚĞŶĐǇǁŝƚŚŵĂŶĂŐĞŵĞŶƚ͛ƐƌĞƐƉŽŶƐĞƐ ƚŽŽƵƌŝŶƋƵŝƌŝĞƐ͕ƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ĂŶĚŽƚŚĞƌŬŶŽǁůĞĚŐĞǁĞŽďƚĂŝŶĞĚĚƵƌŝŶŐŽƵƌĂƵĚŝƚŽĨ ƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘tĞĚŽŶŽƚĞǆƉƌĞƐƐĂŶŽƉŝŶŝŽŶŽƌƉƌŽǀŝĚĞĂŶǇĂƐƐƵƌĂŶĐĞŽŶƚŚĞ ŝŶĨŽƌŵĂƚŝŽŶďĞĐĂƵƐĞƚŚĞůŝŵŝƚĞĚƉƌŽĐĞĚƵƌĞƐĚŽŶŽƚƉƌŽǀŝĚĞƵƐǁŝƚŚƐƵĨĨŝĐŝĞŶƚĞǀŝĚĞŶĐĞƚŽĞǆƉƌĞƐƐĂŶ ŽƉŝŶŝŽŶŽƌƉƌŽǀŝĚĞĂŶǇĂƐƐƵƌĂŶĐĞ͘
KƚŚĞƌ/ŶĨŽƌŵĂƚŝŽŶ
KƵƌĂƵĚŝƚǁĂƐĐŽŶĚƵĐƚĞĚĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĨŽƌŵŝŶŐŽƉŝŶŝŽŶƐŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚ ĐŽůůĞĐƚŝǀĞůǇĐŽŵƉƌŝƐĞƚŚĞŝƚǇΖƐďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞŝŶƚƌŽĚƵĐƚŽƌǇƐĞĐƚŝŽŶ͕ĐŽŵďŝŶŝŶŐĂŶĚ ŝŶĚŝǀŝĚƵĂůĨƵŶĚƐƚĂƚĞŵĞŶƚƐĂŶĚƐĐŚĞĚƵůĞƐ͕ĂŶĚƐƚĂƚŝƐƚŝĐĂůƐĞĐƚŝŽŶĂƌĞƉƌĞƐĞŶƚĞĚĨŽƌƉƵƌƉŽƐĞƐŽĨ ĂĚĚŝƚŝŽŶĂůĂŶĂůǇƐŝƐĂŶĚĂƌĞŶŽƚĂƌĞƋƵŝƌĞĚƉĂƌƚŽĨƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ dŚĞĐŽŵďŝŶŝŶŐĂŶĚŝŶĚŝǀŝĚƵĂůĨƵŶĚƐƚĂƚĞŵĞŶƚƐĂŶĚƐĐŚĞĚƵůĞƐĂƌĞƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚǇŽĨŵĂŶĂŐĞŵĞŶƚĂŶĚ ǁĞƌĞĚĞƌŝǀĞĚĨƌŽŵĂŶĚƌĞůĂƚĞƐĚŝƌĞĐƚůǇƚŽƚŚĞƵŶĚĞƌůǇŝŶŐĂĐĐŽƵŶƚŝŶŐĂŶĚŽƚŚĞƌƌĞĐŽƌĚƐƵƐĞĚƚŽƉƌĞƉĂƌĞ ƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘^ƵĐŚŝŶĨŽƌŵĂƚŝŽŶŚĂƐďĞĞŶƐƵďũĞĐƚĞĚƚŽƚŚĞĂƵĚŝƚŝŶŐƉƌŽĐĞĚƵƌĞƐĂƉƉůŝĞĚ ŝŶƚŚĞĂƵĚŝƚŽĨƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚĐĞƌƚĂŝŶĂĚĚŝƚŝŽŶĂůƉƌŽĐĞĚƵƌĞƐ͕ŝŶĐůƵĚŝŶŐĐŽŵƉĂƌŝŶŐĂŶĚ ƌĞĐŽŶĐŝůŝŶŐƐƵĐŚŝŶĨŽƌŵĂƚŝŽŶĚŝƌĞĐƚůǇƚŽƚŚĞƵŶĚĞƌůǇŝŶŐĂĐĐŽƵŶƚŝŶŐĂŶĚŽƚŚĞƌƌĞĐŽƌĚƐƵƐĞĚƚŽƉƌĞƉĂƌĞ ƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽƌƚŽƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĞŵƐĞůǀĞƐ͕ĂŶĚŽƚŚĞƌĂĚĚŝƚŝŽŶĂů ƉƌŽĐĞĚƵƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƵĚŝƚŝŶŐƐƚĂŶĚĂƌĚƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂ͘/Ŷ ŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĐŽŵďŝŶŝŶŐĂŶĚŝŶĚŝǀŝĚƵĂůĨƵŶĚƐƚĂƚĞŵĞŶƚƐĂŶĚƐĐŚĞĚƵůĞƐĂƌĞĨĂŝƌůǇƐƚĂƚĞĚ͕ŝŶĂůůŵĂƚĞƌŝĂů ƌĞƐƉĞĐƚƐ͕ŝŶƌĞůĂƚŝŽŶƚŽƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂǁŚŽůĞ͘ dŚĞŝŶƚƌŽĚƵĐƚŽƌǇĂŶĚƐƚĂƚŝƐƚŝĐĂůƐĞĐƚŝŽŶƐŚĂǀĞŶŽƚďĞĞŶƐƵďũĞĐƚĞĚƚŽƚŚĞĂƵĚŝƚŝŶŐƉƌŽĐĞĚƵƌĞƐĂƉƉůŝĞĚŝŶ ƚŚĞĂƵĚŝƚŽĨƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚ͕ĂĐĐŽƌĚŝŶŐůǇ͕ǁĞĚŽŶŽƚĞǆƉƌĞƐƐĂŶŽƉŝŶŝŽŶŽƌƉƌŽǀŝĚĞĂŶǇ ĂƐƐƵƌĂŶĐĞŽŶƚŚĞŵ͘
354 CLICK HERE to Return to Agenda
ϯ
KƚŚĞƌZĞƉŽƌƚŝŶŐZĞƋƵŝƌĞĚďǇ'ŽǀĞƌŶŵĞŶƚƵĚŝƚŝŶŐ^ƚĂŶĚĂƌĚƐ /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ'ŽǀĞƌŶŵĞŶƚƵĚŝƚŝŶŐ^ƚĂŶĚĂƌĚƐ͕ǁĞŚĂǀĞĂůƐŽŝƐƐƵĞĚŽƵƌƌĞƉŽƌƚĚĂƚĞĚ:ƵŶĞϯϬ͕ϮϬϮϮ͕ ŽŶŽƵƌĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƚŚĞŝƚǇ͛ƐŝŶƚĞƌŶĂůĐŽŶƚƌŽůŽǀĞƌĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĂŶĚŽŶŽƵƌƚĞƐƚƐŽĨŝƚƐ ĐŽŵƉůŝĂŶĐĞǁŝƚŚĐĞƌƚĂŝŶƉƌŽǀŝƐŝŽŶƐŽĨůĂǁƐ͕ƌĞŐƵůĂƚŝŽŶƐ͕ĐŽŶƚƌĂĐƚƐ͕ĂŶĚŐƌĂŶƚĂŐƌĞĞŵĞŶƚƐĂŶĚŽƚŚĞƌ ŵĂƚƚĞƌƐ͘dŚĞƉƵƌƉŽƐĞŽĨƚŚĂƚƌĞƉŽƌƚŝƐƐŽůĞůǇƚŽĚĞƐĐƌŝďĞƚŚĞƐĐŽƉĞŽĨŽƵƌƚĞƐƚŝŶŐŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůŽǀĞƌ ĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĂŶĚĐŽŵƉůŝĂŶĐĞĂŶĚƚŚĞƌĞƐƵůƚƐŽĨƚŚĂƚƚĞƐƚŝŶŐ͕ĂŶĚŶŽƚƚŽƉƌŽǀŝĚĞĂŶŽƉŝŶŝŽŶŽŶƚŚĞ ĞĨĨĞĐƚŝǀĞŶĞƐƐŽĨƚŚĞŝƚǇ͛ƐŝŶƚĞƌŶĂůĐŽŶƚƌŽůŽǀĞƌĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐŽƌŽŶĐŽŵƉůŝĂŶĐĞ͘dŚĂƚƌĞƉŽƌƚŝƐĂŶ ŝŶƚĞŐƌĂůƉĂƌƚŽĨĂŶĂƵĚŝƚƉĞƌĨŽƌŵĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ'ŽǀĞƌŶŵĞŶƚƵĚŝƚŝŶŐ^ƚĂŶĚĂƌĚƐŝŶĐŽŶƐŝĚĞƌŝŶŐ ƚŚĞŝƚǇ͛ƐŝŶƚĞƌŶĂůĐŽŶƚƌŽůŽǀĞƌĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĂŶĚĐŽŵƉůŝĂŶĐĞ͘ ZĂŶĐŚŽƵĐĂŵŽŶŐĂ͕ĂůŝĨŽƌŶŝĂ
:ƵŶĞϯϬ͕ϮϬϮϮ
355 CLICK HERE to Return to Agenda
ϰ
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ͘
356 CLICK HERE to Return to Agenda
ϰ
0$1$*(0(17',6&866,21
$1'$1$/<6,6

81$8',7('

7KLVQDUUDWLYHSURYLGHVDQRYHUYLHZDQGDQDO\VLVRIWKH&LW\RI/D4XLQWD¶V &LW\

ILQDQFLDODFWLYLWLHVIRUWKHILVFDO\HDUHQGLQJ-XQH7KH&LW\([HFXWLYH 7HDPHQFRXUDJHV UHDGHUV WR FRQVLGHU WKLVLQIRUPDWLRQLQ FRQMXQFWLRQZLWK WKH GDWDSURYLGHGLQRXUWUDQVPLWWDOOHWWHUZKLFKLVLQDQHDUOLHUVHFWLRQRIWKLVUHSRUW $OODPRXQWVXQOHVVRWKHUZLVHLQGLFDWHGDUH URXQGHG WR WKHQHDUHVWWKRXVDQG GROODUVDQGGDWHVDUHUHSUHVHQWHGE\ILVFDO\HDU
357 CLICK HERE to Return to Agenda
ϱ
+,*+/,*+76
$WWKHFORVHRI
-XQH

• 7KHWRWDODVVHWVDQGGHIHUUHGRXWIORZVRI WKH&LW\H[FHHGHGLWVWRWDO OLDELOLWLHVDQGGHIHUUHGLQIORZVDWWKHFORVHRIWKHILVFDO\HDU E\

QHWSRVLWLRQ
2IWKLVDPRXQW
XQUH
VWULFWHGQHW SRVLWLRQ
PD\ EH XVHG WRPHHW RQJRLQJREOLJDWLRQV DQG
DSSUR[LPDWHO\
RU ZDV LQYHVWHG LQ FDSLWDO DVVHWV
DQGLVQRWDYDLODEOHWRPHHWRQJRLQJREOLJDWLRQV
• *RYHUQPHQWDO DFWLYLWLHV WRWDOQHW SRVLWLRQ LQFUHDVHG E\ DQGWKH%XVLQHVV7\SHWRWDOQHWSRVLWLRQLQFUHDVHGE\ZKLFK LVDWWULEXWDEOHWRWKH6LOYHU5RFN*ROI&RXUVH
• *RYHUQPHQWDO IXQGV
*HQHUDO )XQG +RXVLQJ $XWKRULW\ &DSLWDO
,PSURYHPHQW )XQG VL[WHHQ

QRQPDMRU VSHFLDO UHYHQXH IXQGV
QLQH

QRQPDMRU FDSLWDO SURMHFWV IXQGV DQG RQH

QRQPDMRU
GHEW VHUYLFH IXQG
KDG D FRPELQHG HQGLQJ IXQG EDODQFH RI
DQ LQFUHDVH RI 7KH LQFUHDVH LQ IXQG EDODQFHFDQEHDWWULEXWHGWRWD[HVLQFOXGLQJWUDQVLHQWRFFXSDQF\WD[ DQG VDOHV WD[ H[FHHGLQJ WKH RULJLQDO EXGJHW SURMHFWLRQV E\
FRXSOHG ZLWK H[SHQGLWXUHV VDYLQJV IURP WKH RULJLQDO EXGJHWSURMHFWLRQVLQWKH*HQHUDO)XQGWRWDOLQJSURFHHGV IURPWKHVDOHRIODQGWRWDOLQJ
JUDQWUHLPEXUVHPHQWVIRU
FDSLWDOSURMHFWFRVWVIURPSULRU\HDUVDQGDQH[WUDRUGLQDU\JDLQUHODWHG WRWKH6XFFHVVRU$JHQF\ORDQVWRWDOLQJ
• 7KH XQDVVLJQHG *HQHUDO )XQG EDODQFH FRPSULVHG RU RIWKHWRWDOEDODQFHDQGUHSUHVHQWHG RIWRWDO
ILQDO*HQHUDO)XQGEXGJHWHGH[SHQVHVLQFOXGLQJWUDQVIHUVDQGPXOWL \HDUFDSLWDOSURMHFWV
• 7RWDO JRYHUQPHQWDO DFWLYLWLHV ORQJWHUP OLDELOLWLHV LQFUHDVHG E\
IURPWR7KLVLQFUHDVHLVODUJHO\ DWWULEXWHG WR DQ LQFUHDVH RI LQ WKH &LW\¶V QHW SHQVLRQ OLDELOLW\
1RWH

29(59,(:
*RYHUQPHQW:LGH)LQDQFLDO6WDWHPHQWV
7KHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWVSURYLGHDEURDGRYHUYLHZRIWKH &LW\¶VILQDQFHV7KHUHDUHWZRVWDWHPHQWV±VWDWHPHQWRIQHWSRVLWLRQDQG VWDWHPHQWRIDFWLYLWLHVDVGHVFULEHGEHORZ
7KHVWDWHPHQWRIQHWSRVLWLRQSUHVHQWVLQIRUPDWLRQRQDOO&LW\DVVHWVDQG GHIHUUHGRXWIORZVRIUHVRXUFHVDVZHOODVOLDELOLWLHVDQGGHIHUUHGLQIORZVRI UHVRXUFHVZLWKWKHGLIIHUHQFHEHWZHHQWKH WZR UHSRUWHGDVQHWSRVLWLRQ 2YHUWLPHLQFUHDVHVRUGHFUHDVHVLQQHWSRVLWLRQPD\VHUYHDVDXVHIXO LQGLFDWRU RI ZKHWKHU WKH &LW\¶V ILQDQFLDO SRVLWLRQ LV LPSURYLQJ RU GHWHULRUDWLQJ
358 CLICK HERE to Return to Agenda
ϲ
7KH VWDWHPHQW RI DFWLYLWLHV SUHVHQWV LQIRUPDWLRQ VKRZLQJ KRZ WKH

JRYHUQPHQW
VQHWSRVLWLRQFKDQJHGGXULQJWKHPRVWUHFHQWILVFDO\HDU $OOFKDQJHVLQQHWSRVLWLRQDUHUHSRUWHGDVVRRQDVWKHXQGHUO\LQJHYHQW RFFXUVJLYLQJULVHWRWKHFKDQJHUHJDUGOHVVRIWKHWLPLQJRIUHODWHGFDVK IORZV7KXVUHYHQXHVDQGH[SHQVHVDUHUHSRUWHGLQWKLVVWDWHPHQWIRU VRPHLWHPVWKDWZLOORQO\ UHVXOWLQFDVKIORZVLQ IXWXUH ILVFDOSHULRGV IRUH[DPSOHHDUQHGEXWXQXVHGYDFDWLRQOHDYH
%RWK RI WKHVH JRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV GLVWLQJXLVK&LW\ IXQFWLRQV ZKLFK DUH SULQFLSDOO\ VXSSRUWHG E\ WD[HV IHHV DQG LQWHUJRYHUQPHQWDO UHYHQXHV
JRYHUQPHQWDO DFWLYLWLHV
IURP RWKHU
IXQFWLRQV WKDW DUH LQWHQGHG WR UHFRYHU DOO RU D VLJQLILFDQW SRUWLRQ RI WKHLU FRVWV WKURXJK XVHU FKDUJHV
EXVLQHVVW\SH DFWLYLWLHV

*RYHUQPHQWDO DFWLYLWLHV LQFOXGH JHQHUDO JRYHUQPHQW SXEOLF VDIHW\ FRPPXQLW\ VHUYLFHV FRPPXQLW\ GHYHORSPHQW DQG SXEOLF ZRUNV
EXVLQHVVW\SHDFWLYLWLHVLQFOXGHWKH6LOYHU5RFN*ROIFRXUVHRSHUDWLRQV 7KHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWVLQFOXGHQRWRQO\WKH&LW\RI /D4XLQWD
NQRZQDVWKHSULPDU\JRYHUQPHQW
EXWDOVRWKH/D4XLQWD
)LQDQFLQJ $XWKRULW\ DQG WKH /D 4XLQWD +RXVLQJ $XWKRULW\ $OWKRXJK OHJDOO\VHSDUDWHHQWLWLHVWKH\IXQFWLRQIRUDOOSUDFWLFDOSXUSRVHVDV&LW\ GHSDUWPHQWV
7KH JRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV DUH OLVWHG LQ WKH WDEOH RI FRQWHQWVXQGHUWKH)LQDQFLDO6HFWLRQRIWKLVUHSRUW
)XQG)LQDQFLDO6WDWHPHQWV
$IXQGLVDJURXSLQJRIUHODWHGDFFRXQWVDQGLVXVHGWRPDLQWDLQFRQWURO RYHU UHVRXUFHV WKDW KDYH EHHQ VHJUHJDWHG IRU VSHFLILF DFWLYLWLHV RU REMHFWLYHV7KH&LW\OLNHRWKHUVWDWHDQGORFDOJRYHUQPHQWVXVHVIXQG DFFRXQWLQJ WR HQVXUH FRPSOLDQFH ZLWK ILQDQFHUHODWHG OHJDO UHTXLUHPHQWV $OO &LW\¶V IXQGV DUH DJJUHJDWHG LQWR WKUHH FDWHJRULHV
JRYHUQPHQWDOIXQGVSURSULHWDU\IXQGVDQGILGXFLDU\IXQGV *RYHUQPHQWDO)XQGV
*RYHUQPHQWDO IXQGV DUH XVHG WR DFFRXQW IRU HVVHQWLDOO\ WKH VDPH IXQFWLRQV UHSRUWHGDV JRYHUQPHQWDODFWLYLWLHVLQ WKHJRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV +RZHYHU XQOLNH WKH JRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV JRYHUQPHQWDO IXQG ILQDQFLDO VWDWHPHQWV IRFXV RQ QHDU WHUPLQIORZVDQGRXWIORZVRIVSHQGDEOHUHVRXUFHVDVZHOODVRQEDODQFHV RI VSHQGDEOH UHVRXUFHV DYDLODEOH DW WKH HQG RI WKH ILVFDO \HDU 6XFK LQIRUPDWLRQ PD\ EH XVHIXO LQ HYDOXDWLQJ D JRYHUQPHQW V QHDUWHUP
ILQDQFLQJ UHTXLUHPHQWV
359 CLICK HERE to Return to Agenda
ϳ
%HFDXVH WKH IRFXV LV QDUURZHU WKDQ WKH JRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV LW LV XVHIXO WR FRPSDUH WKLV LQIRUPDWLRQ ZLWK VLPLODU LQIRUPDWLRQ SUHVHQWHG IRU JRYHUQPHQWDO DFWLYLWLHV LQ WKH JRYHUQPHQW ZLGHILQDQFLDOVWDWHPHQWV%\GRLQJVRUHDGHUVPD\EHWWHUXQGHUVWDQG WKH ORQJWHUP LPSDFW RI WKH JRYHUQPHQW
V QHDUWHUP ILQDQFLQJ
GHFLVLRQV %RWK WKH JRYHUQPHQWDO IXQG EDODQFH VKHHW DQG WKH JRYHUQPHQWDO IXQG VWDWHPHQWRIUHYHQXHVH[SHQGLWXUHVDQGFKDQJHV LQ IXQG EDODQFHV SURYLGH D UHFRQFLOLDWLRQ WR IDFLOLWDWH WKLV FRPSDULVRQ EHWZHHQJRYHUQPHQWDOIXQGVDQGJRYHUQPHQWDODFWLYLWLHV 7KH &LW\ PDLQWDLQV WZHQW\QLQH

LQGLYLGXDO JRYHUQPHQWDO IXQGV
ZKLFK DUH GLVWLQJXLVKHG EHWZHHQ PDMRU DQG QRQPDMRU IXQGV ,QIRUPDWLRQLVSUHVHQWHGVHSDUDWHO\LQWKHJRYHUQPHQWDO IXQGEDODQFH VKHHW DQG LQ WKH JRYHUQPHQWDO IXQG VWDWHPHQW RI UHYHQXHV H[SHQGLWXUHVDQGFKDQJHVLQIXQGEDODQFHV7KHUHDUHWKUHH
PDMRU
JRYHUQPHQWDO IXQGV
WKH *HQHUDO )XQG WKH +RXVLQJ $XWKRULW\ VSHFLDO UHYHQXH IXQGDQGWKH&DSLWDO,PSURYHPHQWFDSLWDOSURMHFW IXQG'DWD IURPWKHRWKHUWZHQW\VL[

JRYHUQPHQWDOIXQGVDUH FRPELQHGLQWR
DVLQJOHDJJUHJDWHSUHVHQWDWLRQ,QGLYLGXDOIXQGGDWDIRUHDFKRIWKHVH QRQPDMRU JRYHUQPHQWDO IXQGV LV SURYLGHG LQ WKH IRUP RI FRPELQLQJ VWDWHPHQWV LQ WKH &RPELQLQJ DQG ,QGLYLGXDO )XQG 6WDWHPHQWV DQG 6FKHGXOHVVHFWLRQRIWKHUHSRUW
7KH &LW\ DGRSWV DQ DQQXDO EXGJHW IRU LWV *HQHUDO )XQG $ EXGJHWDU\ FRPSDULVRQ VFKHGXOH KDV EHHQ SURYLGHG WR GHPRQVWUDWH FRPSOLDQFH ZLWKWKHDGRSWHGEXGJHW
7KHEDVLFJRYHUQPHQWDOIXQGILQDQFLDOVWDWHPHQWVFDQEHIRXQGLQWKH WDEOHRIFRQWHQWVXQGHUWKHKHDGLQJ%DVLF)LQDQFLDO6WDWHPHQWV 3URSULHWDU\)XQGV
3URSULHWDU\IXQGVDUHEURNHQGRZQLQWRHQWHUSULVHDQGLQWHUQDOVHUYLFH IXQGV(QWHUSULVHIXQGVDUHXVHGWRUHSRUWWKHVDPHIXQFWLRQVSUHVHQWHG DVEXVLQHVVW\SHDFWLYLWLHVLQWKHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWV 7KH&LW\PDLQWDLQVRQH

HQWHUSULVHIXQGWRDFFRXQWIRUWKH6LOYHU5RFN
*ROI&RXUVHRSHUDWLRQVZKLFKLVFRQVLGHUHGDPDMRUIXQG ,QWHUQDOVHUYLFHIXQGVDUHXVHGWRDOORFDWHFRVWVDPRQJWKH&LW\¶VYDULRXV IXQFWLRQV 7KH &LW\ KDV IRXU

LQWHUQDO VHUYLFH IXQGV
(TXLSPHQW
5HSODFHPHQW ,QIRUPDWLRQ 7HFKQRORJ\ 3DUN (TXLSPHQW DQG )DFLOLWLHV DQG ,QVXUDQFH%HFDXVHWKHVH IRXU

VHUYLFHVSUHGRPLQDQWO\EHQHILW
JRYHUQPHQWDO UDWKHU WKDQ EXVLQHVVW\SH IXQFWLRQV WKH\ KDYH EHHQ LQFOXGHGZLWKLQJRYHUQPHQWDODFWLYLWLHVLQWKHJRYHUQPHQWZLGHILQDQFLDO VWDWHPHQWV 7KH LQWHUQDO VHUYLFH IXQGV DUH FRPELQHG LQWR D VLQJOH DJJUHJDWHG SUHVHQWDWLRQ LQ WKH SURSULHWDU\ IXQG ILQDQFLDO VWDWHPHQWV ,QGLYLGXDOIXQGGDWDIRUWKHLQWHUQDOVHUYLFHIXQGVLVSURYLGHGLQWKHIRUP RI FRPELQLQJ VWDWHPHQWV RQ WKH &RPELQLQJ DQG ,QGLYLGXDO )XQG 6WDWHPHQWVDQG6FKHGXOHVVHFWLRQRIWKHUHSRUW
360 CLICK HERE to Return to Agenda
ϴ
7KH EDVLF SURSULHWDU\ IXQG ILQDQFLDO VWDWHPHQWV DUH OLVWHG LQ WKH WDEOH RI FRQWHQWVXQGHU3URSULHWDU\)XQGV
6WDWHPHQWRI1HW3RVLWLRQ6WDWHPHQWRI
5HYHQXHV([SHQVHVDQG&KDQJHVLQ)XQG1HW3RVLWLRQDQG6WDWHPHQWRI &DVK)ORZV
)LGXFLDU\)XQGV
)LGXFLDU\ IXQGVDUHXVHG WRDFFRXQW IRU UHVRXUFHV KHOG IRUWKHEHQHILWRI SDUWLHVRXWVLGH WKHJRYHUQPHQW )LGXFLDU\ IXQGVDUHQRW UHIOHFWHGLQ WKH JRYHUQPHQWZLGH ILQDQFLDO VWDWHPHQWV EHFDXVH WKH UHVRXUFHV RI WKRVH IXQGVDUHQRWDYDLODEOHWRVXSSRUWWKH&LW\¶VRZQSURJUDPV7KHDFFRXQWLQJ XVHGIRUILGXFLDU\IXQGVLVPXFKOLNHWKDWXVHGIRUSURSULHWDU\IXQGV 7KH&LW\UHSRUWVRQWZRILGXFLDU\IXQGV

WKH6XSSOHPHQWDO3HQVLRQ7UXVW
IXQGZKLFKDFFRXQWVIRUWKH'HILQHG&RQWULEXWLRQ3HQVLRQ7UXVWHVWDEOLVKHG WR SURYLGH VXSSOHPHQWDO UHWLUHPHQW EHQHILWV IRU HPSOR\HHV DQG

6XFFHVVRU $JHQF\ RI WKH )RUPHU 5'$ 3ULYDWH3XUSRVH 7UXVW )XQG ZKLFK SURYLGHV IRU DFWLYLWLHV DVVRFLDWHG ZLWK WKH GLVVROXWLRQ RI WKH IRUPHU 5HGHYHORSPHQW$JHQF\
7KH EDVLF ILGXFLDU\ IXQG ILQDQFLDO VWDWHPHQWV DUH OLVWHG LQ WKH WDEOH RI FRQWHQWV XQGHU )LGXFLDU\ )XQGV
6WDWHPHQW RI 1HW 3RVLWLRQ ± )LGXFLDU\
)XQGVDQG&KDQJHVLQ1HW3RVLWLRQ±)LGXFLDU\)XQGV
1RWHVWRWKH)LQDQFLDO6WDWHPHQWV
7KHQRWHVWRWKHILQDQFLDOVWDWHPHQWVSURYLGHLQIRUPDWLRQWKDWLVHVVHQWLDO WRREWDLQDIXOOXQGHUVWDQGLQJRIWKHGDWDSURYLGHGLQWKHJRYHUQPHQWZLGH DQG IXQG ILQDQFLDO VWDWHPHQWV 7KHVH QRWHV DUH OLVWHG LQ WKH WDEOH RI FRQWHQWVXQGHU1RWHVWR)LQDQFLDO6WDWHPHQWV
2WKHU,QIRUPDWLRQ
,QDGGLWLRQWRWKHILQDQFLDOVWDWHPHQWVDQGDFFRPSDQ\LQJQRWHVWKLVUHSRUW DOVR SUHVHQWV WKH FRPELQLQJ VWDWHPHQWV UHIHUUHG WR HDUOLHULQ FRQQHFWLRQ ZLWKQRQPDMRUJRYHUQPHQWDO IXQGVDQGLQWHUQDO VHUYLFH IXQGV7KHQRQ PDMRU JRYHUQPHQWDO IXQGV¶ FRPELQLQJ VWDWHPHQWV DUH SUHVHQWHG LPPHGLDWHO\ IROORZLQJWKH5HTXLUHG6XSSOHPHQWDU\,QIRUPDWLRQZKLOHWKH FRPELQHGVWDWHPHQWVIRUWKHLQWHUQDOVHUYLFHIXQGVLVSUHVHQWHGIROORZLQJ WKHEXGJHWDU\FRPSDULVRQVFKHGXOHVIRUWKHGHEWVHUYLFHIXQGV 361 CLICK HERE to Return to Agenda
ϵ
*RYHUQPHQW:LGH)LQDQFLDO$QDO\VLV
$VQRWHGHDUOLHUQHWSRVLWLRQPD\VHUYHRYHUWLPHDVDXVHIXOLQGLFDWRURI D JRYHUQPHQW
V ILQDQFLDO SRVLWLRQ ,Q WKH FDVH RI WKH &LW\ DVVHWV DQG GHIHUUHGRXWIORZVRIUHVRXUFHVH[FHHGHGLWVOLDELOLWLHVDQGGHIHUUHGLQIORZV RI UHVRXUFHV E\
DW WKH FORVH RI WKH ZKLFK LV
PRUHWKDQWKHSUHYLRXV\HDU,QFUHDVHVZHUHUHIOHFWHGLQDOO WKUHHFDWHJRULHV
FDSLWDODVVHWVUHVWULFWHGDQGXQUHVWULFWHGQHWSRVLWLRQIRU JRYHUQPHQWDODFWLYLWLHV
7KH ODUJHVW SRUWLRQ RI WKH&LW\¶V 1HW 3RVLWLRQ

RU IRU
DQG

RU IRU

UHIOHFWV LQYHVWPHQW LQ
FDSLWDO DVVHWV
HJ ODQG EXLOGLQJV
PDFKLQHU\ DQG HTXLSPHQW
QHW RI
UHODWHG GHEW 7KH &LW\ XVHV WKHVH FDSLWDO DVVHWV WR SURYLGH VHUYLFHV WR FLWL]HQV
FRQVHTXHQWO\WKHVHDVVHWVDUHQRWDYDLODEOHIRUIXWXUHVSHQGLQJ &LW\RI/D4XLQWD1HW3RVLWLRQ
$QDGGLWLRQDOSRUWLRQRIWKH&LW\
VQHWSRVLWLRQ
RULQ
DQGRULQ
UHSUHVHQWVUHVRXUFHVWKDWDUHVXEMHFWWR
H[WHUQDOUHVWULFWLRQVRQKRZWKH\PD\EHXVHG7KHUHPDLQLQJEDODQFHRI XQUHVWULFWHGQHWSRVLWLRQ

PD\EHXVHGWRPHHWWKH

JRYHUQPHQW
VRQJRLQJREOLJDWLRQVWRFLWL]HQVDQGFUHGLWRUV
$WWKHHQGRIWKH&LW\KDGSRVLWLYHEDODQFHVLQDOOWKUHHFDWHJRULHV RIQHWSRVLWLRQIRUWKHJRYHUQPHQWDODQGEXVLQHVVW\SHDFWLYLWLHV &XUUHQWDQGRWKHU
DVVHWV

&DSLWDODVVHWV

7RWDO$VVHWV

'HIHUUHGRXWIORZVRI
UHVRXUFHV

&XUUHQWOLDELOLWLHV

1RQFXUUHQWOLDELOLWLHV 7RWDO/LDELOLWLHV

'HIHUUHGLQIORZVRI
UHVRXUFHV 1HW3RVLWLRQ

1HWLQYHVWPHQWLQ
FDSLWDODVVHWV

5HVWULFWHG 8QUHVWULFWHG

7RWDO1HW3RVLWLRQ

7RWDOE\)LVFDO<HDU
&KDQJH
*RYHUQPHQWDO$FWLYLWLHV %XVLQHVV7\SH$FWLYLWLHV
&KDQJH

&KDQJH
362 CLICK HERE to Return to Agenda
ϭϬ
*RYHUQPHQWDO$FWLYLWLHV
*RYHUQPHQWDODFWLYLWLHVQHWSRVLWLRQLQFUHDVHGE\DFFRXQWLQJ IRUDSRVLWLYHSHUFHQWFKDQJHLQWKHQHWSRVLWLRQIURPWKHSUHYLRXV\HDU .H\HOHPHQWVRIWKHVHFKDQJHVDUHDVIROORZV

&LW\RI/D4XLQWD&KDQJHVLQ1HW3RVLWLRQ
*RYHUQPHQWDOUHYHQXHVRYHUDOOLQFUHDVHGE\
ZLWKWKHODUJHVW
LQFUHDVHRI
EHLQJRWKHUWD[HV
WUDQVLHQWRFFXSDQF\WD[HVDQG
VDOHV WD[ FRPELQHG
IROORZHG E\ DQ LQFUHDVH RI LQ FDSLWDO JUDQWVDQGFRQWULEXWLRQV
LQWHUJRYHUQPHQWDOUHLPEXUVHPHQWVIRUYDULRXV
FRQVWUXFWLRQSURMHFWV
7KHVHLQFUHDVHVZHUHRIIVHWE\GHFUHDVHVWRWDOLQJ
DQGIRURSHUDWLQJJUDQWVDQGFRQWULEXWLRQVDQG LQYHVWPHQWLQFRPHUHYHQXHVUHVSHFWLYHO\
• ([SHQVHV IRU *RYHUQPHQWDO $FWLYLWLHV GHFUHDVHG E\

DGHFUHDVHZKHQFRPSDUHGWR

7KH
GHFUHDVHLQ3XEOLF:RUNVUHIOHFWVPXOWLSOHSURMHFWVLQFRQVWUXFWLRQ SKDVHGHOD\HGGXHWR&29,'
GXULQJ2WKHUGHFUHDVHV
LQ *HQHUDO *RYHUQPHQW DQG &RPPXQLW\ 6HUYLFHV WRWDOLQJ ZHUH WKH UHVXOW RI EXGJHWDU\ UHGXFWLRQV PDGH LQ DQWLFLSDWLRQRIWKHILQDQFLDOLPSDFWVRI&29,'
$VQRWHGHDUOLHU
*RYHUQPHQWDO$FWLYLWLHVLQFOXGH
LQGLYLGXDOJRYHUQPHQWDOIXQGV
DQGLQFOXGHFDSLWDODVVHWDFWLYLW\DOORFDWHGRQDSHUFHQWDJHEDVLV E\ GHSDUWPHQW $GGLWLRQDO LQIRUPDWLRQ RQ FDSLWDO DVVHW DFWLYLW\ GLVWULEXWLRQFDQEHIRXQGRQ1RWH
• 7KH *HQHUDO )XQG FRQWULEXWHG WR WKH EXVLQHVVW\SH DFWLYLWLHVRIWKHJROIFRXUVH)XQGVZHUHXWLOL]HGWRVXSSRUWRSHUDWLRQV SHUWKHDGMXVWHGEXGJHW
352*5$05(9(18(6

&KDUJHVIRU6HUYLFHV

2SHUDWLQJ*UDQWVDQG&RQWULEXWLRQV

&DSLWDO*UDQWVDQG&RQWULEXWLRQV

*(1(5$/5(9(18(6 75$16)(56
3URSHUW\7D[HV

2WKHU7D[HV

,QYHVWPHQW,QFRPH

0RWRU9HKLFOH,Q/LHX

0LVFHOODQHRXV 727$/5(9(18(6

(;3(16(6

*HQHUDO*RYHUQPHQW

3XEOLF6DIHW\

3ODQQLQJ 'HYHORSPHQW &RPPXQLW\6HUYLFHV

3XEOLF:RUNV

,QWHUHVWRQ/RQJ7HUP'HEW

*ROI&RXUVH

727$/(;3(16(6

([FHVVRU'HILFLHQF\EHIRUH
7UDQVIHUV ([WUDRUGLQDU\,WHPV

75$16)(56 (;75$25',1$5<
,7(06

([WUDRUGLQDU\*DLQRQ'LVVROXWLRQRI5'

7UDQVIHUV

,QFUHDVHLQ1HW3RVLWLRQ

1HW3RVLWLRQ%HJLQQLQJ

1(7326,7,21(1',1*

*RYHUQPHQWDO$FWLYLWLHV %XVLQHVV7\SH$FWLYLWLHV 7RWDOE\)LVFDO<HDU &KDQJH &KDQJH &KDQJH
363 CLICK HERE to Return to Agenda
ϭϭ
%XVLQHVV7\SH$FWLYLWLHV
7KLV ZDV WKH VL[WHHQWK IXOO \HDU RI RSHUDWLRQV IRU WKH 6LOYHU5RFN *ROI 5HVRUWVLQFHWKHJROIFRXUVHRSHQHGLQ
&KDUJHV IRU VHUYLFHV SULPDULO\ FRQVLVWHG RI JUHHQ IHHV ZKLFK WRWDOHG
KLJKHUWKDQWKHSUHYLRXV\HDUZLWKJROIFRXUVH H[SHQVHV RI
ZKLFK ZHUH RU DSSUR[LPDWHO\
PRUHWKDQWKHSUHYLRXV\HDU,QFUHDVHVLQUHYHQXHVUHVXOWHG IURPWKH JROI FRXUVH UHRSHQLQJ DV &29,'
UHVWULFWLRQV RQ RXWGRRU DFWLYLWLHV
ZHUHOLIWHGE\WKH6WDWHRI&DOLIRUQLD
,QWKH*HQHUDO)XQGWUDQVIHUUHGWRWKH6LOYHU5RFN*ROI )XQGWRVXSSRUWRSHUDWLRQV$IWHUWKLVWUDQVIHUWKHQHWSRVLWLRQLQFUHDVHG E\
),1$1&,$/$1$/<6,62)7+(*29(510(17¶6)81'6
$V QRWHG HDUOLHU WKH &LW\ XVHV IXQG DFFRXQWLQJ WR HQVXUH DQG GHPRQVWUDWHFRPSOLDQFHZLWKILQDQFHUHODWHGOHJDOUHTXLUHPHQWV *RYHUQPHQWDO)XQGV
7KHIRFXVRIWKH&LW\¶VJRYHUQPHQWDOIXQGVLVWRSURYLGHLQIRUPDWLRQRQ QHDUWHUPLQIORZVRXWIORZVDQGEDODQFHV6XFKLQIRUPDWLRQLVXVHIXOLQ DVVHVVLQJ WKH&LW\
V ILQDQFLQJ UHTXLUHPHQWV ,Q SDUWLFXODU XQDVVLJQHG IXQG EDODQFH PD\ VHUYH DV D XVHIXO PHDVXUH RI D JRYHUQPHQW V QHW
UHVRXUFHVDYDLODEOHIRUVSHQGLQJDWWKHHQGRIWKHILVFDO\HDU $VRIWKHHQGRIWKH&LW\
VJRYHUQPHQWDOIXQGVUHSRUWHGFRPELQHG
HQGLQJIXQGDVIROORZV

&LW\RI/D4XLQWD*RYHUQPHQWDO)XQG%DODQFHV
*RYHUQPHQWDO IXQG EDODQFHV HQGHG WKH \HDU WRWDOLQJ DQ LQFUHDVHRILQFRPSDULVRQZLWKWKHSULRU\HDUV¶HQGLQJEDODQFH RI7KHVHFROOHFWLYHIXQGEDODQFHVLQFOXGHWKH*HQHUDO)XQG +RXVLQJ $XWKRULW\ )LQDQFLQJ $XWKRULW\ &DSLWDO ,PSURYHPHQW )XQG DQG YDULRXV6SHFLDO5HYHQXHDQG&DSLWDO,PSURYHPHQWIXQGV &DWHJRU\ *HQHUDO)XQG 3HUFHQW $OO2WKHU)XQGV 3HUFHQW 7RWDO)XQGV 3HUFHQW 1RQVSHQGDEOH

5HVWULFWHG

&RPPLWWHG

$VVLJQHG

8QDVVLJQHG

727$/ 364 CLICK HERE to Return to Agenda
ϭϮ
1RQVSHQGDEOH
1RQVSHQGDEOHIXQGEDODQFHWRWDOHG
RU
WKLVUHSUHVHQWV
DPRXQWVWKDWDUHQRWDYDLODEOHWRSD\IRURSHUDWLQJH[SHQGLWXUHVEHFDXVH WKH\DUHLQWKHIRUPRIODQGDQGUHFHLYDEOHV
5HVWULFWHG
5HVWULFWHG IXQG EDODQFH WRWDOHG
RU
WKHVH DPRXQWV
UHSUHVHQW IXQGV ZLWK H[WHUQDO OLPLWDWLRQV RQ VSHQGLQJ 6LJQLILFDQW UHVWULFWLRQVLQFOXGH
6HFWLRQWUXVWRIUHVWULFWHGIRUSHQVLRQ

OLDELOLWLHV
/LEUDU\ DQG 0XVHXP WRWDOLQJ

ZKLFK UHSUHVHQWV
SURSHUW\ WD[ LQFUHPHQW PRQH\ WKDW FDQ RQO\ EH XVHG IRU OLEUDU\ DQG PXVHXPVHUYLFHV
0HDVXUH$IXQGLQJRI

ZKLFKFDQRQO\EHXVHG
IRUWUDQVSRUWDWLRQ
(FRQRPLF'HYHORSPHQWIXQGLQJRIWKDWFDQ
RQO\EHXVHGIRUIXWXUHHFRQRPLFGHYHORSPHQWLQWKH&LW\ 7UDQVSRUWDWLRQ
FDSLWDOSURMHFWIXQGRILQGHYHORSHUIHHVWKDWDUHUHVWULFWHGIRU WKHDFTXLVLWLRQFRQVWUXFWLRQDQGLPSURYHPHQWRIWKH&LW\¶VLQIUDVWUXFWXUH &RPPLWWHG

DUHFRPPLWWHGIXQGEDODQFHVZKLFKDUHWKHUHVXOWRI
VHOILPSRVHGOLPLWDWLRQVHVWDEOLVKHGE\WKH&LW\&RXQFLO7KH&LW\DGRSWHG D5HVHUYH3ROLF\LQ0D\ZKLFKHVWDEOLVKHG*HQHUDO)XQGFRPPLWWHG UHVHUYHFDWHJRULHVLQFOXGLQJ
1DWXUDO'LVDVWHU5HVHUYH(FRQRPLF'LVDVWHU
5HVHUYH&DVK)ORZ5HVHUYHDQG&DSLWDO5HSODFHPHQW5HVHUYH $VVLJQHG
$VVLJQHGIXQGVDUHFRQVWUDLQHGE\WKH&LW\¶VLQWHQWWRXVHWKHPIRUVSHFLILF SXUSRVHV DQG UHSUHVHQW D WRWDO RI

RI WKH WRWDO IXQG
EDODQFH UHSUHVHQWV IXQGV IRU DSSURYHG PXOWL\HDU FDSLWDO SURMHFWV WKDW ZHUH QRW VSHQW E\ WKH HQG RI WKH \HDU WKHUHIRUHWKH\ DUH FDUULHGRYHUVXQWLOWKHSURMHFWVDUHFRPSOHWHG$YDLODEOH0HDVXUH*VDOHV WD[UHYHQXHHQGHGWKH\HDUDW
DQGUHSUHVHQWV
IXQGVKHOGLQWUXVWZLWKWKH&RXQW\RI5LYHUVLGHIRUILUHVHUYLFHV 8QDVVLJQHG
7KH UHPDLQLQJ IXQG EDODQFH RU
UHSUHVHQWV XQDVVLJQHG IXQG
EDODQFHVRUWKH UHVLGXDOQHW UHVRXUFHVDIWHUWDNLQJLQWR FRQVLGHUDWLRQ WKH RWKHU FODVVLILFDWLRQV 7KH &DSLWDO ,PSURYHPHQW )XQG DFFRXQWHG IRU RI WKH QHJDWLYH EDODQFH RI DOO RWKHU IXQGV 7KH UHPDLQLQJ QHJDWLYH EDODQFH ZDV ODUJHO\ DWWULEXWHG WR WKH /LEUDU\ 'HYHORSPHQW,PSDFW)HH)XQG7KLVDPRXQWUHSUHVHQWVDQDGYDQFHGXHWR WKH 5HGHYHORSPHQW
5'$
6XFFHVVRU $JHQF\ DQG LV LQFOXGHG LQ WKH
6XFFHVVRU$JHQF\RIWKHIRUPHU5'$DVDUHFHLYDEOH
365 CLICK HERE to Return to Agenda
ϭϯ
*HQHUDO)XQG
7KH*HQHUDO)XQGLVWKH&LW\¶VFKLHIRSHUDWLQJIXQG$WWKHHQGRI WKHXQDVVLJQHGIXQGEDODQFHZDVZKLOHWRWDOIXQGEDODQFHZDV
7KH *HQHUDO )XQG EDODQFH LQFUHDVHG E\
LQ .H\
IDFWRUVZHUH

• $ \HDURYHU\HDU GHFUHDVH RI
LQ QRQVSHQGDEOH LV
DWWULEXWHG WKH 5HGHYHORSPHQW $JHQF\ ORDQ UHSD\PHQW RI
RIIVHWE\LQWHUHVWHDUQLQJVRI
UHVXOWHGLQDQHW
GHFUHDVH RI

LQ 'XH IURP 2WKHU *RYHUQPHQWV 7KH
RXWVWDQGLQJORDQEDODQFHRILVUHFRJQL]HGDVLQWKH *HQHUDO)XQGDQGLQWKH+RXVLQJ$XWKRULW\)XQG
• 5HVWULFWHGUHVHUYHV DUHOLPLWHGWRIXQGVKHOGLQD6HFWLRQ3HQVLRQ 7UXVWVHWDVLGHWRIXQGWKH&LW\¶VSHQVLRQREOLJDWLRQV7KHWUXVWZDV LQLWLDOO\ HVWDEOLVKHG LQ
ZLWK DQG LQ
DGGLWLRQDO FRQWULEXWLRQV FRXSOHG ZLWK LQYHVWPHQW JDLQV FDXVHG WKH WUXVWWRLQFUHDVHE\
• &RPPLWWHGUHVHUYHV LQFUHDVHGE\
7KHLQFUHDVHUHVXOWHG
IURPDQLQFUHDVHRILQWKH&DSLWDO5HSODFHPHQW5HVHUYHV DQGLQWKH(FRQRPLF'LVDVWHU5HVHUYH
• $QLQFUHDVHRILQDVVLJQHGUHVHUYHVZDVSULPDULO\GXHWR DQ LQFUHDVH LQ WKH 0HDVXUH * VDOHV WD[ UHVHUYH

$VVLJQHGWR SXEOLF VDIHW\ UHSUHVHQWV SURSHUW\ WD[DFFXPXODWHG DQG KHOGLQWUXVWE\WKH&RXQW\RI5LYHUVLGHIRU ILUHSURWHFWLRQGLVDVWHU SUHSDUHGQHVV DQG UHVSRQVH ILUH SUHYHQWLRQ UHVFXH KD]DUGRXV PDWHULDOVPLWLJDWLRQWHFKQLFDOUHVFXHUHVSRQVHPHGLFDOHPHUJHQF\ VHUYLFHV DQG SXEOLF VHUYLFH DVVLVWDQFH
WKH &RXQW\ DQG &LW\
QHJRWLDWHG DQ DJUHHPHQW ZKHUHLQ WKH&RXQW\ ILUH VHUYLFH SURSHUW\ WD[UHYHQXHJHQHUDWHGLQWKHWZRIRUPHU&LW\UHGHYHORSPHQWSURMHFW DUHDV LV SOHGJHG WR WKH&LW\ WR IXQG WKH DIRUHPHQWLRQHG VHUYLFHV
7KLV SRUWLRQ RI DVVLJQHG IXQG EDODQFH DV RI -XQH LV
• $FWXDOH[SHQVHVZHUHORZHUWKDQWKHILQDOEXGJHWRIZKLFK
ZDV FDUULHG RYHU LQWR IRU FRQWLQXLQJ DSSURSULDWLRQVUHODWHGWRRSHUDWLRQV)XQGVQRWEHLQJFDUULHGRYHUDUH UHFRJQL]HG DV 8QDVVLJQHG )XQG %DODQFH LQ WKH *HQHUDO )XQG &,3 UHYHQXHFRPPLWPHQWVWRWDOLQJDUHUHIOHFWHGLQDVVLJQHG UHVHUYHVDQGRSHUDWLRQDOFDUU\RYHUVDUHQRWHGLQFRPPLWWHGUHVHUYHV 366 CLICK HERE to Return to Agenda
ϭϰ
+RXVLQJ$XWKRULW\)XQG
7KH +RXVLQJ $XWKRULW\ )XQG LV XVHG WR DFFRXQW IRU WKH DFWLYLWLHV RI WKH +RXVLQJ$XWKRULW\
WKH+RXVLQJ$XWKRULW\LQYHVWVLQSURJUDPVDQGSURMHFWV WKDWSUHVHUYHDQGLQFUHDVHWKHVXSSO\RIDIIRUGDEOHKRXVLQJLQWKH&LW\7KH IXQGEDODQFHLQFUHDVHGE\
WRHQGWKH\HDUDW
&DSLWDO,PSURYHPHQW)XQG
7KH&DSLWDO,PSURYHPHQW)XQGLVSULPDULO\XVHGWRUHFRUGWKHH[SHQGLWXUHV IRU FDSLWDO SURMHFWV 7KH IXQG KDG WKLUW\HLJKW
DFWLYH &DSLWDO
,PSURYHPHQW 3URMHFWV EXGJHWHG GXULQJ 7KH ILYH PRVW DFWLYH SURMHFWVZHUH

• 6LOYHU5RFN,QIUDVWUXFWXUH,PSURYHPHQWV

• /D4XLQWD9LOODJH&RPSOHWH6WUHHWV

• 6LOYHU5RFN(YHQW6LWH

• /D4XLQWD;3DUN

• :DVKLQJWRQ6WUHHWDW)UHG:DULQJ6WUHHW,PSURYHPHQWV

7KHVHSURMHFWVDORQJZLWKRWKHUVOHYHUDJHG6WDWHRU)HGHUDOJUDQWIXQGV RUZHUHVLJQLILFDQWO\VXSSRUWHGZLWK0HDVXUH*VDOHVWD[UHYHQXHV 35235,(7$5<)81'6
7KH &LW\ RI /D 4XLQWD
V SURSULHWDU\ IXQGV SURYLGH WKH VDPH W\SH RI
LQIRUPDWLRQIRXQGLQWKHJRYHUQPHQWZLGHILQDQFLDOVWDWHPHQWVEXWLQPRUH GHWDLO
7KH ILQDQFLDO DFWLYLWLHV RI WKH &LW\ HQWHUSULVH IXQG DUH DGGUHVVHG LQ WKH GLVFXVVLRQRIWKH&LW\¶V EXVLQHVVW\SH DFWLYLWLHV ,QDGGLWLRQ WKH&LW\KDV IRXU

LQWHUQDOVHUYLFHIXQGVWRDFFXPXODWHUHVRXUFHVIRUHTXLSPHQWDQG YHKLFOHUHSODFHPHQWLQIRUPDWLRQWHFKQRORJ\LQVXUDQFHDQGSDUNHTXLSPHQW DQGIDFLOLW\UHSODFHPHQW
*(1(5$/)81'%8'*(7$5<+,*+/,*+76
0RVW *HQHUDO )XQG UHYHQXHV H[SHULHQFHG SRVLWLYH YDULDQFHV ZKHQ FRPSDUHG WR WKH ILQDO EXGJHW 5HYHQXH DSSURSULDWLRQV DQG WUDQVIHUV LQ LQFUHDVHG E\
EHWZHHQ WKH RULJLQDO

DQG ILQDO
DPHQGHG EXGJHW

7KH FDWHJRU\ UHSUHVHQWLQJ WKH ODUJHVW
YDULDQFHV LV WD[HV ZKLFK UHSUHVHQWV RI DOO *HQHUDO )XQG UHYHQXHV 7D[HVLQFOXGHVWKHWKUHHODUJHVWIXQGLQJVRXUFHVIRUWKH&LW\±VDOHVWD[HV SURSHUW\WD[HV
DQGWUDQVLHQWRFFXSDQF\WD[HV

727
&RPELQHG WKHVH WRS WKUHH UHYHQXHV DFFRXQW IRU RU
RIDOOWD[HV
367 CLICK HERE to Return to Agenda
ϭϱ
7KH ([WUDRUGLQDU\ ,WHP LQFOXGHV
WR UHFRUG WKH DQQXDO IRUPHU
5HGHYHORSPHQW $JHQF\ ORDQ UHSD\PHQW LQWHUHVWHDUQHG LQ 7KH ORDQUHSD\PHQWVDUHVWUXFWXUHGWRSD\DOOSULQFLSDOILUVWWKHQLQWHUHVW(DFK \HDU WKH &LW\ UHFRUGV WKH SD\PHQW UHFHLYHG DQG LQWHUHVW HDUQHG LQ DFFRUGDQFHZLWKWKH6WDWH'HSDUWPHQWRI)LQDQFHDSSURYHGORDQUHSD\PHQW VFKHGXOH/RDQUHSD\PHQWVDUHQRWEXGJHWHG
WKHVHIXQGVDUHUHFRJQL]HG
LQXQDVVLJQHGUHVHUYHVDQGUHGXFHQRQVSHQGDEOHUHVHUYHVHDFK\HDU RIWKHH[WUDRUGLQDU\JDLQLVUHFRJQL]HGLQWKH*HQHUDO)XQGDQGLQWKH +RXVLQJ$XWKRULW\)XQG
([SHQGLWXUHDSSURSULDWLRQVDQGWUDQVIHUVRXWGHFUHDVHGE\EHWZHHQ WKH RULJLQDO

DQG ILQDO DPHQGHG EXGJHW

DQG
ZDV UHODWHGWRPLQRU FKDQJHVLQHVWLPDWHV IURP WKH WLPH WKH EXGJHW ZDV DGRSWHGWRWKHHQGRIWKHILVFDO\HDU
&$3,7$/$66(7$1'/21*7(50/,$%,/,7,(6
$'0,1,675$7,21
&DSLWDO$VVHWV
7KH&LW\¶VFDSLWDODVVHWVIRULWVJRYHUQPHQWDODQGEXVLQHVVW\SHDFWLYLWLHV DVRI-XQHZHUH

QHWRIDFFXPXODWHGGHSUHFLDWLRQ

7KLVLQFOXGHV ODQG ULJKW RIZD\ EXLOGLQJV DQG LPSURYHPHQWVPDFKLQHU\ DQG HTXLSPHQW VWUHHWV DQG EULGJHV DQG FRQVWUXFWLRQ LQ SURJUHVV 7KH LQYHVWPHQWLQFDSLWDODVVHWVLQFUHDVHGE\
LQSULPDULO\
GXH WR DQ LQFUHDVH LQ FRQVWUXFWLRQ LQ SURJUHVV DQG WKH FRPSOHWLRQ RI SURMHFWVWKDWEHJDQLQSUHYLRXV\HDUV
7KH IROORZLQJ FKDUW OLVWV WKH DVVHW FDWHJRULHV IRU JRYHUQPHQWDO DQG EXVLQHVVOLNHDFWLYLWLHVQHWRIGHSUHFLDWLRQ

&LW\RI/D4XLQWD&DSLWDO$VVHWV
QHWRIGHSUHFLDWLRQ

0DMRU FDSLWDO DVVHW HYHQWV XQGHU *RYHUQPHQWDO $FWLYLWLHV LQFOXGHG WKH

IROORZLQJ

• 5HFRUGLQJ LQIUDVWUXFWXUH LPSURYHPHQWV VWUHHWLPSURYHPHQWV VWUHHW ULJKWRIZD\ VWUHHW VLGHZDONV DQG FXUEVDQG JXWWHUV WUDIILF VLJQDOV VWUHHWPHGLDQVDQGFRQVWUXFWLRQLQSURJUHVV

/DQG

%XLOGLQJV ,PSURYHPHQWV

(TXLSPHQW )XUQLWXUH

9HKLFOHV 6RIWZDUH
,QIUDVWUXFWXUH

&RQVWUXFWLRQLQ3URJUHVV

727$/

*RYHUQPHQWDO$FWLYLWLHV %XVLQHVV7\SH$FWLYLWLHV 7RWDO%\)LVFDO<HDU 'HVFULSWLRQ
368 CLICK HERE to Return to Agenda
ϭϲ
%XVLQHVV7\SH$FWLYLWLHV
7KH*ROI&RXUVHFDSLWDODVVHWEDODQFHDW-XQHZDV QHWRIDFFXPXODWHGGHSUHFLDWLRQ7KHEDODQFHGHFUHDVHRIUHIOHFWV DFFXPXODWHGGHSUHFLDWLRQH[SHQVHGLQ
$GGLWLRQDOLQIRUPDWLRQRQWKH&LW\RI/D4XLQWD¶VFDSLWDODVVHWVFDQEHIRXQG LQ1RWHWRWKHILQDQFLDOVWDWHPHQWV
/RQJ7HUP/LDELOLWLHV
$WWKHHQGRIWKH&LW\JRYHUQPHQWDODFWLYLWLHVKDGWRWDORXWVWDQGLQJ ORQJWHUP OLDELOLWLHV RI ZKLFK LV
JUHDWHU WKDQ WKH
SUHYLRXV\HDU2IWKHWRWDODPRXQWUHSUHVHQWVFDSLWDOOHDVHVDQG
LQHPSOR\HHFRPSHQVDWHGDEVHQFHV7KHLQFUHDVHRI LQWKH1HW3HQVLRQ/LDELOLW\LVGHVFULEHGLQ1RWHDQGWKHREOLJDWLRQLVQRW UHGXFHG E\ WKH 3HQVLRQ 7UXVW EDODQFH RI XQWLO IXQGV DUH UHPLWWHGWR&DO3(56
&LW\RI/D4XLQWD2XWVWDQGLQJ/RQJ7HUP/LDELOLWLHV
$GGLWLRQDOLQIRUPDWLRQRQORQJWHUPOLDELOLWLHVFDQEHIRXQGLQ1RWHRI WKHILQDQFLDOVWDWHPHQWV
5(48(67)25,1)250$7,21
7KLVILQDQFLDOUHSRUWLVGHVLJQHGWRSURYLGHDJHQHUDORYHUYLHZRIWKH&LW\¶V ILQDQFHV4XHVWLRQVFRQFHUQLQJWKLVLQIRUPDWLRQRUUHTXHVWVIRUDGGLWLRQDO LQIRUPDWLRQVKRXOGEHDGGUHVVHGWRWKH&LW\RI/D4XLQWD&ODXGLD0DUWLQH] )LQDQFH 'LUHFWRU&LW\ 7UHDVXUHU
&DOOH 7DPSLFR /D 4XLQWD &$

E\ WHOHSKRQH DW RU E\ HPDLO DW ILQDQFH#ODTXLQWDFDJRY
'HEW7\SH

&DSLWDO/HDVHV

&RPSHQVDWHG$EVHQFHV

1HW23(%
$VVHW
/LDELOLW\

1HW3HQVLRQ/LDELOLW\
727$/

*RYHUQPHQWDO$FWLYLWLHV
369 CLICK HERE to Return to Agenda
ϭϳ
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ͘
370 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ϭϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ
:ƵŶĞϯϬ͕ϮϬϮϭ
'ŽǀĞƌŶŵĞŶƚĂů ƵƐŝŶĞƐƐͲdǇƉĞ
ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐ dŽƚĂů
ƐƐĞƚƐ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϱϵ͕Ϯϵϲ͕ϵϰϯ Ψ ϲϱϴ͕ϭϴϮ Ψ ϭϱϵ͕ϵϱϱ͕ϭϮϱ Ψ ZĞƐƚƌŝĐƚĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϭ͕ϯϴϭ͕ϵϮϮ Ͳ ϭϭ͕ϯϴϭ͕ϵϮϮ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ ϭ͕ϰϯϭ͕ϵϴϵ Ͳ ϭ͕ϰϯϭ͕ϵϴϵ dĂǆĞƐ ϳ͕Ϭϱϰ͕ϯϵϱ Ͳ ϳ͕Ϭϱϰ͕ϯϵϱ EŽƚĞƐĂŶĚůŽĂŶƐ ϮϮ͕ϲϴϱ͕ϱϬϳ Ͳ ϮϮ͕ϲϴϱ͕ϱϬϳ ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϰ͕ϳϲϭ͕ϲϮϲ ϮϭϬ ϰ͕ϳϲϭ͕ϴϯϲ WƌĞƉĂŝĚĐŽƐƚƐ Ϯϰϴ͕ϭϴϴ Ͳ Ϯϰϴ͕ϭϴϴ ĞƉŽƐŝƚƐ ϰϳ͕ϵϲϰ ϮϱϬ͕ϬϬϬ Ϯϵϳ͕ϵϲϰ ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ ϯϭ͕ϳϳϳ͕ϭϰϳ Ͳ ϯϭ͕ϳϳϳ͕ϭϰϳ /ŶǀĞŶƚŽƌŝĞƐ Ͳ ϵϮ͕Ϯϰϵ ϵϮ͕Ϯϰϵ >ĂŶĚŚĞůĚĨŽƌƌĞƐĂůĞ ϱ͕ϰϬϯ͕ϲϱϮ Ͳ ϱ͕ϰϬϯ͕ϲϱϮ ĂƉŝƚĂůĂƐƐĞƚƐŶŽƚďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ ϯϴϲ͕ϲϳϭ͕ϯϯϭ ϯϵ͕ϳϭϮ͕ϵϱϱ ϰϮϲ͕ϯϴϰ͕Ϯϴϲ ĂƉŝƚĂůĂƐƐĞƚƐ͕ŶĞƚŽĨĚĞƉƌĞĐŝĂƚŝŽŶ ϭϯϮ͕ϱϯϭ͕ϴϰϲ ϯ͕ϬϬϰ͕ϵϱϵ ϭϯϱ͕ϱϯϲ͕ϴϬϱ dŽƚĂůĂƐƐĞƚƐ ϳϲϯ͕ϮϵϮ͕ϱϭϬ ϰϯ͕ϳϭϴ͕ϱϱϱ ϴϬϳ͕Ϭϭϭ͕Ϭϲϱ ĞĨĞƌƌĞĚKƵƚĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
ĞĨĞƌƌĞĚĂŵŽƵŶƚƐƌĞůĂƚĞĚƚŽKW
ϮϵϮ͕ϵϮϵ Ͳ ϮϵϮ͕ϵϮϵ ĞĨĞƌƌĞĚĂŵŽƵŶƚƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐ ϰ͕ϬϴϬ͕ϬϴϬ Ͳ ϰ͕ϬϴϬ͕ϬϴϬ dŽƚĂůĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ ϰ͕ϯϳϯ͕ϬϬϵ Ͳ ϰ͕ϯϳϯ͕ϬϬϵ >ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ ϭϭ͕ϮϬϰ͕ϴϴϰ ϱϵϲ͕ϯϵϭ ϭϭ͕ϴϬϭ͕Ϯϳϱ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ ϰϯϲ͕ϯϯϴ Ͳ ϰϯϲ͕ϯϯϴ hŶĞĂƌŶĞĚƌĞǀĞŶƵĞ ϭ͕ϰϱϬ͕ϴϵϴ Ͳ ϭ͕ϰϱϬ͕ϴϵϴ ĞƉŽƐŝƚƐƉĂǇĂďůĞ ϳ͕ϳϮϰ͕ϰϱϵ ϯϱ͕ϱϬϬ ϳ͕ϳϱϵ͕ϵϱϵ ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ ϭ͕ϰϲϭ͕ϱϭϬ Ͳ ϭ͕ϰϲϭ͕ϱϭϬ EŽŶĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ
ƵĞǁŝƚŚŝŶŽŶĞǇĞĂƌ ϰϵϴ͕ϱϳϲ Ͳ ϰϵϴ͕ϱϳϲ ƵĞŝŶŵŽƌĞƚŚĂŶŽŶĞǇĞĂƌ ϭϱ͕ϱϭϯ͕ϴϴϵ Ͳ ϭϱ͕ϱϭϯ͕ϴϴϵ dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϯϴ͕ϮϵϬ͕ϱϱϰ ϲϯϭ͕ϴϵϭ ϯϴ͕ϵϮϮ͕ϰϰϱ ĞĨĞƌƌĞĚ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
ĞĨĞƌƌĞĚĂŵŽƵŶƚƐƌĞůĂƚĞĚƚŽKW
ϰϭ͕ϭϱϴ Ͳ ϰϭ͕ϭϱϴ ĞĨĞƌƌĞĚĂŵŽƵŶƚƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐ ϱϯϭ͕ϯϵϵ Ͳ ϱϯϭ͕ϯϵϵ dŽƚĂůĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ ϱϳϮ͕ϱϱϳ Ͳ ϱϳϮ͕ϱϱϳ EĞƚWŽƐŝƚŝŽŶ
EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐĂƉŝƚĂůĂƐƐĞƚƐ ϱϭϵ͕ϮϬϯ͕ϭϳϳ ϰϮ͕ϳϭϳ͕ϵϭϰ ϱϲϭ͕ϵϮϭ͕Ϭϵϭ ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ϯϰ͕ϳϱϭ͕ϰϰϯ Ͳ Ϯϰ͕ϳϱϭ͕ϰϰϯ WƵďůŝĐƐĂĨĞƚǇ ϵϯϭ͕ϯϱϮ Ͳ ϵϯϭ͕ϯϱϮ WƵďůŝĐǁŽƌŬƐ ϱ͕ϭϵϲ͕ϯϮϰ Ͳ ϱ͕ϭϵϲ͕ϯϮϰ ĂƉŝƚĂůƉƌŽũĞĐƚƐ ϯ͕Ϭϭϴ͕ϴϵϰ Ͳ ϯ͕Ϭϭϴ͕ϴϵϰ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϭϮ͕ϴϭϯ͕ϳϴϴ Ͳ ϭϮ͕ϴϭϯ͕ϳϴϴ hŶƌĞƐƚƌŝĐƚĞĚ ϭϲϮ͕ϴϴϳ͕ϰϯϬ ϯϲϴ͕ϳϱϬ ϭϲϯ͕Ϯϱϲ͕ϭϴϬ dŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ ΨϳϮϴ͕ϴϬϮ͕ϰϬϴ Ψϰϯ͕Ϭϴϲ͕ϲϲϰ Ψϳϳϭ͕ϴϴϵ͕ϬϳϮ WƌŝŵĂƌǇ'ŽǀĞƌŶŵĞŶƚ
371 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ϭϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
KƉĞƌĂƚŝŶŐ ĂƉŝƚĂů
ŚĂƌŐĞƐĨŽƌ ŽŶƚƌŝďƵƚŝŽŶƐ ŽŶƚƌŝďƵƚŝŽŶƐ
&ƵŶĐƚŝŽŶƐͬWƌŽŐƌĂŵƐ
ǆƉĞŶƐĞƐ ^ĞƌǀŝĐĞƐ ĂŶĚ'ƌĂŶƚƐ ĂŶĚ'ƌĂŶƚƐ
WƌŝŵĂƌǇ'ŽǀĞƌŶŵĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ ϴ͕ϭϬϲ͕ϮϬϵ Ψ ϭ͕ϱϰϭ͕ϱϯϱ Ψ Ϯϴ͕ϱϭϱ Ψ ϰ͕ϯϮϵ͕ϰϯϰ Ψ WƵďůŝĐƐĂĨĞƚǇ Ϯϰ͕ϰϮϵ͕ϯϭϬ ϳϳϬ͕ϳϲϬ ϳ͕ϮϵϮ ϭϱϵ͕ϵϮϭ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϲ͕ϱϬϴ͕ϱϮϮ ϳϭϬ͕ϱϮϵ ϭϱϯ͕ϬϯϮ ϭ͕ϰϵϳ͕ϵϵϰ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϲ͕ϵϱϴ͕Ϯϯϰ ϭϳϴ͕ϱϱϰ ϴϵϳ͕ϯϰϯ Ͳ
WƵďůŝĐǁŽƌŬƐ ϭϭ͕ϰϯϴ͕ϭϵϳ ϭ͕ϱϬϯ͕ϲϯϯ ϯ͕ϯϮϳ͕ϯϰϭ ϵ͕ϳϴϮ͕ϲϵϵ /ŶƚĞƌĞƐƚŽŶůŽŶŐͲƚĞƌŵĚĞďƚ ϰϮ͕Ϭϴϭ Ͳ Ͳ Ͳ
dŽƚĂůŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ ϱϳ͕ϰϴϮ͕ϱϱϯ ϰ͕ϳϬϱ͕Ϭϭϭ ϰ͕ϰϭϯ͕ϱϮϯ ϭϱ͕ϳϳϬ͕Ϭϰϴ ƵƐŝŶĞƐƐͲdǇƉĞĐƚŝǀŝƚŝĞƐ
'ŽůĨŽƵƌƐĞ ϰ͕ϭϲϵ͕Ϯϴϲ ϯ͕ϱϬϵ͕Ϭϵϲ Ͳ Ͳ
dŽƚĂůƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚ Ψ ϲϭ͕ϲϱϭ͕ϴϯϵ Ψ ϴ͕Ϯϭϰ͕ϭϬϳ Ψ ϰ͕ϰϭϯ͕ϱϮϯ Ψ ϭϱ͕ϳϳϬ͕Ϭϰϴ 'ĞŶĞƌĂůZĞǀĞŶƵĞƐ
dĂǆĞƐ
WƌŽƉĞƌƚǇƚĂǆĞƐ͕ůĞǀŝĞĚĨŽƌŐĞŶĞƌĂůƉƵƌƉŽƐĞ
dƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆĞƐ
^ĂůĞƐƚĂǆĞƐ
&ƌĂŶĐŚŝƐĞƚĂǆĞƐ
ƵƐŝŶĞƐƐůŝĐĞŶƐĞƐƚĂǆĞƐ
KƚŚĞƌƚĂǆĞƐ
DŽƚŽƌǀĞŚŝĐůĞŝŶůŝĞƵͲƵŶƌĞƐƚƌŝĐƚĞĚ
/ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ
KƚŚĞƌ

ǆƚƌĂŽƌĚŝŶĂƌǇŝƚĞŵ
dƌĂŶƐĨĞƌƐ
dŽƚĂů'ĞŶĞƌĂůZĞǀĞŶƵĞƐ͕
ǆƚƌĂŽƌĚŝŶĂƌǇ
/ƚĞŵƐĂŶĚdƌĂŶƐĨĞƌƐ
ŚĂŶŐĞŝŶEĞƚWŽƐŝƚŝŽŶ
EĞƚWŽƐŝƚŝŽŶĂƚĞŐŝŶŶŝŶŐŽĨzĞĂƌ
EĞƚWŽƐŝƚŝŽŶĂƚ
ŶĚŽĨzĞĂƌ
WƌŽŐƌĂŵZĞǀĞŶƵĞƐ
372 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ϮϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
'ŽǀĞƌŶŵĞŶƚĂů ƵƐŝŶĞƐƐͲdǇƉĞ
ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐ dŽƚĂů
Ψ Ͳ ;Ϯ͕ϮϬϲ͕ϳϮϱͿ Ψ ;Ϯ͕ Ψ ϮϬϲ͕ϳϮϱͿ ;Ϯϯ͕ϰϵϭ͕ϯϯϳͿ ;Ϯϯ͕ Ͳ ϰϵϭ͕ϯϯϳͿ ;ϰ͕ϭϰϲ͕ϵϲϳͿ ;ϰ͕ Ͳ ϭϰϲ͕ϵϲϳͿ ;ϱ͕ϴϴϮ͕ϯϯϲͿ ;ϱ͕ Ͳ ϴϴϮ͕ϯϯϲͿ ϯ͕ϭϳϱ͕ϰϳϲ ϯ͕ Ͳ ϭϳϱ͕ϰϳϲ ;ϰϮ͕ϬϴϭͿ Ͳ ;ϰϮ͕ϬϴϭͿ ;ϯϮ͕ϱϵϯ͕ϵϳϭͿ ;ϯϮ͕ Ͳ ϱϵϯ͕ϵϳϭͿ ; Ͳ ϲϲϬ͕ϭϵϬͿ ;ϲϲϬ͕ϭϵϬͿ ;ϯϮ͕ϱϵϯ͕ϵϳϭͿ ;ϲϲϬ͕ϭϵϬͿ ;ϯϯ͕Ϯϱϰ͕ϭϲϭͿ ϭϲ͕ϴϵϯ͕ϲϮϵ ϭϲ͕ Ͳ ϴϵϯ͕ϲϮϵ ϭϭ͕ϴϰϳ͕ϭϯϵ ϭϭ͕ Ͳ ϴϰϳ͕ϭϯϵ Ϯϯ͕ϯϮϯ͕ϱϰϵ Ϯϯ͕ Ͳ ϯϮϯ͕ϱϰϵ Ϯ͕Ϭϱϱ͕ϱϬϱ Ϯ͕ Ͳ Ϭϱϱ͕ϱϬϱ ϯϴϯ͕ϱϱϭ Ͳ ϯϴϯ͕ϱϱϭ ϭ͕ϱϲϴ͕ϵϵϳ ϭ͕ Ͳ ϱϲϴ͕ϵϵϳ ϰ͕ϯϳϲ͕ϰϱϱ ϰ͕ Ͳ ϯϳϲ͕ϰϱϱ ϭ͕ϰϮϳ͕ϲϲϰ ϭϯ͕Ϭϴϭ ϭ͕ϰϰϬ͕ϳϰϱ ϭ͕ϰϱϳ͕ϳϴϴ ϭ͕ Ͳ ϰϱϳ͕ϳϴϴ ϳϯϵ͕ϵϯϯ Ͳ ϳϯϵ͕ϵϯϯ ;ϴϳϱ͕ϬϬϬͿ ϴϳϱ͕ϬϬϬ Ͳ ϲϯ͕ϭϵϵ͕ϮϭϬ ϴϴϴ͕Ϭϴϭ ϲϰ͕Ϭϴϳ͕Ϯϵϭ ϯϬ͕ϲϬϱ͕Ϯϯϵ ϮϮϳ͕ϴϵϭ ϯϬ͕ϴϯϯ͕ϭϯϬ ϲϵϴ͕ϭϵϳ͕ϭϲϵ ϰϮ͕ϴϱϴ͕ϳϳϯ ϳϰϭ͕Ϭϱϱ͕ϵϰϮ ΨϳϮϴ͕ϴϬϮ͕ϰϬϴ Ψϰϯ͕Ϭϴϲ͕ϲϲϰ Ψϳϳϭ͕ϴϴϵ͕ϬϳϮ
WƌŝŵĂƌǇ'ŽǀĞƌŶŵĞŶƚ
EĞƚ;
ǆƉĞŶƐĞͿZĞǀĞŶƵĞĂŶĚŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ
373 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ĂůĂŶĐĞ^ŚĞĞƚʹ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
^ƉĞĐŝĂů ĂƉŝƚĂůWƌŽũĞĐƚƐ
ZĞǀĞŶƵĞ&ƵŶĚ &ƵŶĚ KƚŚĞƌ dŽƚĂů
,ŽƵƐŝŶŐ ĂƉŝƚĂů 'ŽǀĞƌŶŵĞŶƚĂů 'ŽǀĞƌŶŵĞŶƚĂů
'ĞŶĞƌĂů ƵƚŚŽƌŝƚǇ /ŵƉƌŽǀĞŵĞŶƚ &ƵŶĚƐ &ƵŶĚƐ
ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϭϬ͕ϳϴϮ͕ϴϯϰ Ψ ϭϱ͕ Ψ ϭ͕ ϱϵϴ͕ϳϵϳ Ψ Ϯϭ͕ ϴϬϵ͕ϰϵϰ Ψ ϱϴϴ͕ϯϱϲ Ψϭϰϵ͕ϳϳϵ͕ϰϴϭ ZĞƐƚƌŝĐƚĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϭ͕ϯϴϭ͕ϵϮϮ Ͳ Ͳ Ͳ ϭϭ͕ ϯϴϭ͕ϵϮϮ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ ϳϯϬ͕ϯϭϬ ϭϲϲ͕ϲϱϴ Ϯϴ͕ϵϮϱ ϱϬϬ͕ϬϬϬ ϭ͕ϰϮϱ͕ϴϵϯ dĂǆĞƐ ϲ͕ϯϴϰ͕ϯϰϲ Ͳ Ͳ ϲϳϬ͕Ϭϰϵ ϳ͕Ϭϱϰ͕ϯϵϱ EŽƚĞƐĂŶĚůŽĂŶƐ ϮϮ͕ Ͳ ϲϴϱ͕ϱϬϳ Ͳ ϮϮ͕ Ͳ ϲϴϱ͕ϱϬϳ ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϯϵ͕ϳϴϮ ϰ͕ϳϬϵ͕ϯϭϳ Ͳ ϴ͕ϳϭϴ ϰ͕ϳϱϳ͕ϴϭϳ WƌĞƉĂŝĚĐŽƐƚƐ Ϯϱ͕Ϯϰϲ Ͳ Ͳ ϭ͕Ϭϭϵ Ϯϲ͕Ϯϲϱ ĞƉŽƐŝƚƐ Ͳ ϰϳ͕ϵϲϰ Ͳ Ͳ ϰϳ͕ϵϲϰ ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ϯϰ͕ϭϴϵ͕ϳϰϵ ϲ͕Ϭϭϳ͕ϲϱϱ ϱϮϳ͕ϵϳϰ ϭ͕Ϭϰϭ͕ϳϲϵ ϯϭ͕ϳϳϳ͕ϭϰϳ ƵĞĨƌŽŵŽƚŚĞƌĨƵŶĚƐ ϰϬϭ͕ϲϲϵ Ͳ Ͳ Ͳ ϰϬϭ͕ϲϲϵ >ĂŶĚŚĞůĚĨŽƌƌĞƐĂůĞ ϱ͕ϰϬϯ͕ϲϱϮ Ͳ Ͳ ϱ͕ Ͳ ϰϬϯ͕ϲϱϮ dŽƚĂůĂƐƐĞƚƐ Ψϭϱϵ͕ϯϯϵ͕ϱϭϬ Ψϰϵ͕ϮϮϱ͕ϴϵϴ ΨϮ͕ϯϲϲ͕ϯϵϯ ΨϮϯ͕ϴϬϵ͕ϵϭϭ ΨϮϯϰ͕ϳϰϭ͕ϳϭϮ >ŝĂďŝůŝƚŝĞƐ͕ĞĨĞƌƌĞĚ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
ĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ψϴ͕ϰϭϬ͕ϲϵϳ Ψϭϳ͕ϵϭϬ ΨϮ͕ϯϯϭ͕ϳϲϬ Ψϯϰϵ͕ϵϳϱ Ψϭϭ͕ϭϭϬ͕ϯϰϮ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ ϯϵϭ͕ϲϵϮ ϭϴ͕ϭϴϭ Ͳ Ϯϱ͕Ϯϯϯ ϰϯϱ͕ϭϬϲ hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ ϯϵ͕ϭϬϭ ϭ͕ Ͳ ϰϭϭ͕ϳϵϳ ϭ͕ Ͳ ϰϱϬ͕ϴϵϴ ĞƉŽƐŝƚƐƉĂǇĂďůĞ ϳ͕ϲϵϵ͕ϳϴϯ Ϯϰ͕ϲϳϲ Ͳ ϳ͕ Ͳ ϳϮϰ͕ϰϱϵ ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ϯ͕ϳϮϭ Ͳ ϭ͕ Ͳ ϰϱϴ͕ϳϴϵ ϭ͕ϰϲϭ͕ϱϭϬ ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ͳ Ϯϲ͕ϳϳϳ Ͳ ϯϳϰ͕ϴϵϮ ϰϬϭ͕ϲϲϵ dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϭϲ͕ϱϰϯ͕ϵϵϰ ϴϳ͕ϱϰϰ ϯ͕ϳϰϯ͕ϱϱϳ Ϯ͕ϮϬϴ͕ϴϴϵ ϮϮ͕ϱϴϯ͕ϵϴϰ ĞĨĞƌƌĞĚ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞ ϰϳϴ͕ϵϳϯ Ϯϱ͕ϯϯϭ͕ϲϱϰ Ͳ ϱϬϬ͕ϬϬϬ Ϯϲ͕ϯϭϬ͕ϲϮϳ &ƵŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ϯϱ͕Ϯϰϲ Ͳ Ͳ ϭ͕Ϭϭϵ Ϯϲ͕Ϯϲϱ >ĂŶĚŚĞůĚĨŽƌƌĞƐĂůĞ ϱ͕ϰϬϯ͕ϲϱϮ Ͳ Ͳ ϱ͕ Ͳ ϰϬϯ͕ϲϱϮ ƵĞĨƌŽŵƐƵĐĐĞƐƐŽƌĂŐĞŶĐǇ Ϯϰ͕ϬϳϬ͕ϲϮϮ Ͳ Ͳ Ϯϰ͕ Ͳ ϬϳϬ͕ϲϮϮ ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ϯϯ͕ Ͳ ϴϬϲ͕ϳϬϬ Ͳ ϵϰϰ͕ϳϰϯ Ϯϰ͕ϳϱϭ͕ϰϰϯ WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ ϵϯϭ͕ϯϱϮ ϵϯϭ͕ϯϱϮ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ ϭϮ͕ Ͳ ϴϭϯ͕ϳϴϴ ϭϮ͕ϴϭϯ͕ϳϴϴ WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ ϱ͕ Ͳ ϭϵϲ͕ϯϮϰ ϱ͕ϭϵϲ͕ϯϮϰ ĂƉŝƚĂůƉƌŽũĞĐƚƐ Ͳ Ͳ ϯ͕ Ͳ Ϭϭϴ͕ϴϵϰ ϯ͕Ϭϭϴ͕ϴϵϰ ^ĞĐƚŝŽŶϭϭϱƚƌƵƐƚ ϭϭ͕ϯϴϭ͕ϵϮϮ Ͳ Ͳ ϭϭ͕ Ͳ ϯϴϭ͕ϵϮϮ ŽŵŵŝƚƚĞĚƚŽ
EĂƚƵƌĂůŝƐĂƐƚĞƌZĞƐĞƌǀĞ ϭϬ͕ϬϬϬ͕ϬϬϬ Ͳ Ͳ ϭϬ͕ Ͳ ϬϬϬ͕ϬϬϬ

ĐŽŶŽŵŝĐŽǁŶƚƵƌŶZĞƐĞƌǀĞ ϭϭ͕ϬϬϬ͕ϬϬϬ Ͳ Ͳ ϭϭ͕ Ͳ ϬϬϬ͕ϬϬϬ ĂƐŚ&ůŽǁZĞƐĞƌǀĞ ϱ͕ϬϬϬ͕ϬϬϬ Ͳ Ͳ ϱ͕ Ͳ ϬϬϬ͕ϬϬϬ ĂƉŝƚĂůZĞƉůĂĐĞŵĞŶƚZĞƐĞƌǀĞ ϭϬ͕ϬϬϬ͕ϬϬϬ Ͳ Ͳ ϭϬ͕ Ͳ ϬϬϬ͕ϬϬϬ ĂƌƌǇŽǀĞƌƐ ϭ͕ϮϬϵ͕ϴϳϬ Ͳ Ͳ ϭ͕ Ͳ ϮϬϵ͕ϴϳϬ ƐƐŝŐŶĞĚĨŽƌ
WƵďůŝĐƐĂĨĞƚǇ ϭϭ͕ϰϮϯ͕ϵϯϭ Ͳ Ͳ ϭϭ͕ Ͳ ϰϮϯ͕ϵϯϭ ^ĂůĞƐdĂǆZĞƐĞƌǀĞ ϭϱ͕ϭϮϴ͕ϲϱϴ Ͳ Ͳ ϭϱ͕ Ͳ ϭϮϴ͕ϲϱϴ ĂƉŝƚĂůƉƌŽũĞĐƚƐ ϭϯ͕ϰϯϭ͕Ϭϴϵ Ͳ Ͳ ϭϯ͕ Ͳ ϰϯϭ͕Ϭϴϵ hŶĂƐƐŝŐŶĞĚ Ϯϰ͕Ϯϰϭ͕ϱϱϯ ;ϭ͕ Ͳ ϯϳϳ͕ϭϲϰͿ ;ϭ͕ϴϬϱ͕ϬϵϴͿ Ϯϭ͕Ϭϱϵ͕Ϯϵϭ dŽƚĂůĨƵŶĚďĂůĂŶĐĞ ϭϰϮ͕ϯϭϲ͕ϱϰϯ Ϯϯ͕ϴϬϲ͕ϳϬϬ ;ϭ͕ϯϳϳ͕ϭϲϰͿ Ϯϭ͕ϭϬϭ͕ϬϮϮ ϭϴϱ͕ϴϰϳ͕ϭϬϭ dŽƚĂůůŝĂďŝůŝƚŝĞƐ͕ĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨ
ƌĞƐŽƵƌĐĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ Ψϭϱϵ͕ϯϯϵ͕ϱϭϬ Ψϰϵ͕ϮϮϱ͕ϴϵϴ ΨϮ͕ϯϲϲ͕ϯϵϯ ΨϮϯ͕ϴϬϵ͕ϵϭϭ ΨϮϯϰ͕ϳϰϭ͕ϳϭϮ 374 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ϮϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨƚŚĞ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐĂůĂŶĐĞ^ŚĞĞƚƚŽƚŚĞ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ :ƵŶĞϯϬ͕ϮϬϮϭ
ŵŽƵŶƚƐƌĞƉŽƌƚĞĚĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨŶĞƚƉŽƐŝƚŝŽŶĂƌĞĚŝĨĨĞƌĞŶƚďĞĐĂƵƐĞ͗ &ƵŶĚďĂůĂŶĐĞƐŽĨŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ Ψϭϴϱ͕ϴϰϳ͕ϭϬϭ
ĂƉŝƚĂůĂƐƐĞƚƐŶĞƚŽĨĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶŚĂǀĞŶŽƚďĞĞŶ ŶŽƚďĞĞŶŝŶĐůƵĚĞĚĂƐĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐ
ŝŶŐŽǀĞƌŶŵĞŶƚĂů ĨƵŶĚĂĐƚŝǀŝƚǇ ϱϬϱ͕ϲϭϮ͕ϲϲϰ
>ŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐĂƌĞŶŽƚĚƵĞĂŶĚƉĂǇĂďůĞŝŶƚŚĞĐƵƌƌĞŶƚƉĞƌŝŽĚ ĂŶĚƚŚĞƌĞĨŽƌĞĂƌĞŶŽƚƌĞƉŽƌƚĞĚŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͗ ĂƉŝƚĂůůĞĂƐĞƉĂǇĂďůĞ Ψ;ϰϭ͕ϮϮϱͿ
ŽŵƉĞŶƐĂƚĞĚĂďƐĞŶĐĞƐ ;ϵϱϬ͕ϯϬϵͿ
EĞƚKW
ůŝĂďŝůŝƚǇ ;ϭϬϬ͕ϱϳϬͿ
EĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ ;ϭϰ͕ϱϬϮ͕ϯϭϭͿ ;ϭϱ͕ϱϵϰ͕ϰϭϱͿ ĞĨĞƌƌĞĚŽƵƚĨůŽǁƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐ ϰ͕ϬϴϬ͕ϬϴϬ ĞĨĞƌƌĞĚŽƵƚĨůŽǁƐƌĞůĂƚĞĚƚŽKW
ϮϵϮ͕ϵϮϵ
ĞĨĞƌƌĞĚŝŶĨůŽǁƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐ ;ϱϯϭ͕ϯϵϵͿ ĞĨĞƌƌĞĚŝŶĨůŽǁƐƌĞůĂƚĞĚƚŽKW
;ϰϭ͕ϭϱϴͿ
ZĞǀĞŶƵĞƐƌĞƉŽƌƚĞĚĂƐƵŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂů ĨƵŶĚƐĂƌĞƌĞĐŽŐŶŝǌĞĚŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐ Ϯϲ͕ϯϭϬ͕ϲϮϳ /ŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞƵƐĞĚďǇŵĂŶĂŐĞŵĞŶƚƚŽĐŚĂƌŐĞƚŚĞ ĐŽƐƚƐŽĨĐĞƌƚĂŝŶĂĐƚŝǀŝƚŝĞƐ͕ƐƵĐŚĂƐĞƋƵŝƉŵĞŶƚŵĂŶĂŐĞŵĞŶƚ ĂŶĚƐĞůĨͲŝŶƐƵƌĂŶĐĞ͕ƚŽŝŶĚŝǀŝĚƵĂůĨƵŶĚƐ͘dŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐ ŽĨƚŚĞŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞŝŶĐůƵĚĞĚŝŶŐŽǀĞƌŶŵĞŶƚĂů ĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞƐƚĂƚĞŵĞŶƚŽĨŶĞƚƉŽƐŝƚŝŽŶ ϮϮ͕ϴϮϱ͕ϵϳϵ EĞƚWŽƐŝƚŝŽŶŽĨ'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐ ϳϮϴ͕ϴϬϮ͕ϰϬϴ Ψ 375 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
^ƉĞĐŝĂů ĂƉŝƚĂůWƌŽũĞĐƚƐ
ZĞǀĞŶƵĞ&ƵŶĚ &ƵŶĚ KƚŚĞƌ dŽƚĂů
,ŽƵƐŝŶŐ ĂƉŝƚĂů 'ŽǀĞƌŶŵĞŶƚĂů 'ŽǀĞƌŶŵĞŶƚĂů
'ĞŶĞƌĂů ƵƚŚŽƌŝƚǇ /ŵƉƌŽǀĞŵĞŶƚƐ &ƵŶĚƐ &ƵŶĚƐ
ZĞǀĞŶƵĞƐ
dĂǆĞƐ Ψ ϱϭ͕ϱϭϱ͕ϴϱϰ Ψ Ͳ Ψ ϭ͕ϵϳϳ͕ϵϯϮ Ͳ Ψ Ψ ϱϯ͕ϰϵϯ͕ϳϴϲ ƐƐĞƐƐŵĞŶƚƐ Ͳ Ͳ ϵϴϰ͕ϰϯϱ Ͳ ϵϴϰ͕ϰϯϱ
>ŝĐĞŶƐĞƐĂŶĚƉĞƌŵŝƚƐ Ϯ͕ϬϮϬ͕ϱϵϲ Ͳ Ͳ Ϯ͕ϬϮϬ͕ϱϵϲ Ͳ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϴ͕ϱϱϭ͕ϵϲϰ ϭϭ͕ϵϵϭ͕Ϯϯϰ Ͳ ϱ͕ϭϳϳ͕ϭϯϬ Ϯϱ͕ϳϮϬ͕ϯϮϴ ŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐ ϵϲϰ͕ϳϭϬ ͲͲ Ͳ ϵϲϰ͕ϳϭϬ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭ͕ϱϲϵ͕ϭϰϵ ϭ͕Ϭϰϴ͕ϲϵϱ ;ϭϲ͕ϯϲϮͿ Ͳ Ϯ͕ϲϬϭ͕ϰϴϮ &ŝŶĞƐĂŶĚĨŽƌĨĞŝƚƵƌĞƐ ϳϳϵ͕ϲϬϲ Ͳ Ͳ Ͳ ϳϳϵ͕ϲϬϲ
ŽŶƚƌŝďƵƚŝŽŶƐĨƌŽŵŽƚŚĞƌĂŐĞŶĐŝĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ
ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ Ͳ ϭϳϭ͕ϭϯϰ Ͳ ϭ͕ϲϳϯ͕ϱϯϭ ϭ͕ϴϰϰ͕ϲϲϱ DŝƐĐĞůůĂŶĞŽƵƐ ϲϰϮ͕ϵϰϵ ϭ͕ϴϮϬ Ͳ ϭ͕Ϭϭϭ ϲϰϱ͕ϳϴϬ
dŽƚĂůƌĞǀĞŶƵĞƐ ϲϲ͕Ϭϰϰ͕ϴϮϴ ϭ͕ϬϱϬ͕ϱϭϱ ϭϮ͕ϭϲϮ͕ϯϲϴ ϵ͕ϳϵϳ͕ϲϳϳ ϴϵ͕Ϭϱϱ͕ϯϴϴ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ ϴ͕ϰϲϯ͕ϭϯϬ Ͳ Ͳ ϭ͕ϭϬϬ ϴ͕ϰϲϰ͕ϮϯϬ WƵďůŝĐƐĂĨĞƚǇ Ϯϰ͕Ϯϴϱ͕ϱϭϳ Ͳ ϭϰϯ͕ϳϵϯ Ͳ Ϯϰ͕ϰϮϵ͕ϯϭϬ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ϯ͕ϵϵϳ͕ϰϱϵ ϴϱϭ͕ϴϮϬ ϭ͕Ϭϴϲ͕ϭϲϵ ϭ͕ϲϬϵ͕ϬϮϵ ϲ͕ϱϰϰ͕ϰϳϳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϯ͕ϭϴϲ͕ϬϰϮ ϯϬϬ͕ϬϬϬ Ϯ͕Ϭϵϳ͕ϯϳϴ Ͳ ϱ͕ϱϴϯ͕ϰϮϬ WƵďůŝĐǁŽƌŬƐ ϭ͕ϵϯϬ͕ϴϯϴ Ͳ ϯ͕ϯϱϲ͕ϰϰϮ Ͳ ϱ͕Ϯϴϳ͕ϮϴϬ ĂƉŝƚĂůŽƵƚůĂǇ ϰϰϬ͕ϰϴϵ ϭϳ͕ϳϲϰ͕ϴϰϱ Ͳ ϭϰ͕Ϭϱϭ ϭϴ͕Ϯϭϵ͕ϯϴϱ ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ ϭϱ͕ϭϯϯ ϭϱ͕ϭϯϯ dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ ϰϭ͕ϯϬϯ͕ϰϳϱ ϭ͕ϭϱϭ͕ϴϮϬ ϭϴ͕ϴϱϭ͕Ϭϭϰ ϳ͕Ϯϯϲ͕ϵϮϲ ϲϴ͕ϱϰϯ͕Ϯϯϱ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ Ϯϰ͕ϳϰϭ͕ϯϱϯ ;ϭϬϭ͕ϯϬϱͿ ;ϲ͕ϲϴϴ͕ϲϰϲͿ Ϯ͕ϱϲϬ͕ϳϱϭ ϮϬ͕ϱϭϮ͕ϭϱϯ KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞŽĨůĂŶĚ ϭ͕Ϯϭϵ͕ϰϴϱ Ͳ Ͳ ϭ͕Ϯϭϵ͕ϰϴϱ Ͳ dƌĂŶƐĨĞƌƐŝŶ Ͳ Ͳ ϴ͕ϵϳϲ͕Ϯϲϳ ϭ͕ϴϬϱ͕ϬϬϬ ϭϬ͕ϳϴϭ͕Ϯϲϳ
dƌĂŶƐĨĞƌƐŽƵƚ ;ϲ͕ϯϱϬ͕ϰϮϯͿ ;Ϯϳϴ͕ϬϲϮͿ ;ϰ͕ϵϯϵ͕ϳϵϲͿ Ͳ ;ϭϭ͕ϱϲϴ͕ϮϴϭͿ dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐ
ƐŽƵƌĐĞƐ;ƵƐĞƐͿ ;ϲ͕ϯϱϬ͕ϰϮϯͿ ϵϰϭ͕ϰϮϯ ϴ͕ϵϳϲ͕Ϯϲϳ ;ϯ͕ϭϯϰ͕ϳϵϲͿ ϰϯϮ͕ϰϳϭ

ǆƚƌĂŽƌĚŝŶĂƌǇ/ƚĞŵ
^ƵĐĐĞƐƐŽƌŐĞŶĐǇůŽĂŶ ϱϵϭ͕ϵϰϲ ϭϰϳ͕ϵϴϳ Ͳ Ͳ ϳϯϵ͕ϵϯϯ EĞƚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐ ϭϴ͕ϵϴϮ͕ϴϳϲ ϵϴϴ͕ϭϬϱ Ϯ͕Ϯϴϳ͕ϲϮϭ ;ϱϳϰ͕ϬϰϱͿ Ϯϭ͕ϲϴϰ͕ϱϱϳ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϭϮϯ͕ϯϯϯ͕ϲϲϳ ϮϮ͕ϴϭϴ͕ϱϵϱ ;ϯ͕ϲϲϰ͕ϳϴϱͿ Ϯϭ͕ϲϳϱ͕Ϭϲϳ ϭϲϰ͕ϭϲϮ͕ϱϰϰ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ Ψ ϭϰϮ͕ϯϭϲ͕ϱϰϯ ΨϮϯ͕ϴϬϲ͕ϳϬϬ Ψ;ϭ͕ϯϳϳ͕ϭϲϰͿ ΨϮϭ͕ϭϬϭ͕ϬϮϮ Ψϭϴϱ͕ϴϰϳ͕ϭϬϭ 376 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨƚŚĞ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐŽĨ'ŽǀĞƌŶŵĞŶƚĂů &ƵŶĚƐƚŽƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
ŵŽƵŶƚƐƌĞƉŽƌƚĞĚĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐĂƌĞĚŝĨĨĞƌĞŶƚďĞĐĂƵƐĞ͗ EĞƚĐŚĂŶŐĞƐŝŶĨƵŶĚďĂůĂŶĐĞƐͲƚŽƚĂůŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ ΨϮϭ͕ϲϴϰ͕ϱϱϳ 'ŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐƌĞƉŽƌƚĐĂƉŝƚĂůƉƌŽũĞĐƚƐ;ŽƵƚůĂǇƐͿĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘ ,ŽǁĞǀĞƌ͕ŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐ͕ƚŚĞĐŽƐƚƐŽĨƚŚŽƐĞĂƐƐĞƚƐĂƌĞ ĂůůŽĐĂƚĞĚŽǀĞƌƚŚĞŝƌĞƐƚŝŵĂƚĞĚƵƐĞĨƵůůŝǀĞƐĂƐĚĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞ͘ dŚŝƐŝƐƚŚĞĂŵŽƵŶƚďǇǁŚŝĐŚĐĂƉŝƚĂůŽƵƚůĂǇƐĞǆĐĞĞĚĞĚĚĞƉƌĞĐŝĂƚŝŽŶ ŝŶƚŚĞĐƵƌƌĞŶƚƉĞƌŝŽĚ͘
ĂƉŝƚĂůKƵƚůĂǇ͕ŶĞƚŽĨĂĚũƵƐƚŵĞŶƚƐĨŽƌĚĞůĞƚŝŽŶƐ Ψϭϴ͕ϬϲϬ͕Ϭϱϱ

ǆƉĞŶĚŝƚƵƌĞƐĐůĂƐƐŝĨŝĞĚŝŶǀĂƌŝŽƵƐĨƵŶĐƚŝŽŶƐĂƌĞ
ƌĞĐůĂƐƐŝĨŝĞĚĂƐĐĂƉŝƚĂůĂĚĚŝƚŝŽŶƐ ϴϴϬ͕ϳϯϭ
ĞƉƌĞĐŝĂƚŝŽŶ
ǆƉĞŶƐĞ͕ŶĞƚŽĨĂĚũƵƐƚŵĞŶƚƐĨŽƌĚĞůĞƚŝŽŶƐ ;ϴ͕ϳϭϱ͕ϬϳϰͿ ϭϬ͕ϮϮϱ͕ϳϭϮ dŚŝƐŝƐƐƵĂŶĐĞŽĨůŽŶŐͲƚĞƌŵĚĞďƚůŝĂďŝůŝƚŝĞƐƉƌŽǀŝĚĞƐĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂů ƌĞƐŽƵƌĐĞƐŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͕ďƵƚŝƐƐƵŝŶŐĚĞďƚŝŶĐƌĞĂƐĞƐƚŚĞ ůŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨŶĞƚƉŽƐŝƚŝŽŶ͘ZĞƉĂǇŵĞŶƚ ŽĨďŽŶĚƉƌŝŶĐŝƉĂůŝƐĂŶĞǆƉĞŶĚŝƚƵƌĞŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚ͕ďƵƚ ƚŚĞƌĞƉĂǇŵĞŶƚƌĞĚƵĐĞƐůŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨ ŶĞƚƉŽƐŝƚŝŽŶ͘
ĂƉŝƚĂůůĞĂƐĞĂĐƚŝǀŝƚǇ Ϯϰ͕ϳϭϯ
ŽŵƉĞŶƐĂƚĞĚĂďƐĞŶĐĞƐĞǆƉĞŶƐĞƐƌĞƉŽƌƚĞĚŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨ ĂĐƚŝǀŝƚŝĞƐĚŽŶŽƚƌĞƋƵŝƌĞƚŚĞƵƐĞŽĨĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐĂŶĚ͕ ƚŚĞƌĞĨŽƌĞ͕ĂƌĞŶŽƚƌĞƉŽƌƚĞĚĂƐĞǆƉĞŶĚŝƚƵƌĞƐŝŶŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͘ ;ϲϭ͕ϴϭϴͿ 'ŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐƌĞƉŽƌƚKW
ĐŽŶƚƌŝďƵƚŝŽŶƐĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘
,ŽǁĞǀĞƌ͕ŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͕KW
ĞǆƉĞŶƐĞŝƐŵĞĂƐƵƌĞĚ
ĂƐƚŚĞĐŚĂŶŐĞŝŶKW
ůŝĂďŝůŝƚǇĂŶĚƚŚĞĂŵŽƌƚŝǌĂƚŝŽŶŽĨĚĞĨĞƌƌĞĚ
ŽƵƚĨůŽǁƐĂŶĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽKW
͘dŚŝƐĂŵŽƵŶƚ
ƌĞƉƌĞƐĞŶƚƐƚŚĞŶĞƚĐŚĂŶŐĞŝŶKW
ƌĞůĂƚĞĚĂŵŽƵŶƚƐ͘ ;Ϯϱ͕ϲϳϮͿ
'ŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐƌĞƉŽƌƚƉĞŶƐŝŽŶĐŽŶƚƌŝďƵƚŝŽŶƐĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘ ,ŽǁĞǀĞƌ͕ŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͕ƉĞŶƐŝŽŶĞǆƉĞŶƐĞŝƐŵĞĂƐƵƌĞĚ ĂƐƚŚĞĐŚĂŶŐĞŝŶƉĞŶƐŝŽŶůŝĂďŝůŝƚǇĂŶĚƚŚĞĂŵŽƌƚŝǌĂƚŝŽŶŽĨĚĞĨĞƌƌĞĚ ŽƵƚĨůŽǁƐĂŶĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶ͘dŚŝƐĂŵŽƵŶƚ ƌĞƉƌĞƐĞŶƚƐƚŚĞŶĞƚĐŚĂŶŐĞŝŶƉĞŶƐŝŽŶƌĞůĂƚĞĚĂŵŽƵŶƚƐ͘ ϮϳϬ͕Ϯϴϯ ZĞǀĞŶƵĞƐƌĞƉŽƌƚĞĚĂƐƵŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂů ĨƵŶĚƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐŽƉĞƌĂƚŝŶŐĐŽŶƚƌŝďƵƚŝŽŶƐĂŶĚŐƌĂŶƚƐ ŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐ͘ ;Ϯ͕ϭϮϳ͕ϳϰϯͿ
/ŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞƵƐĞĚďǇŵĂŶĂŐĞŵĞŶƚƚŽĐŚĂƌŐĞƚŚĞĐŽƐƚƐ ŽĨĐĞƌƚĂŝŶĂĐƚŝǀŝƚŝĞƐ͕ƐƵĐŚĂƐĞƋƵŝƉŵĞŶƚŵĂŶĂŐĞŵĞŶƚĂŶĚ ƐĞůĨͲŝŶƐƵƌĂŶĐĞ͕ƚŽŝŶĚŝǀŝĚƵĂůĨƵŶĚƐ͘dŚĞŶĞƚƌĞǀĞŶƵĞƐ;ĞǆƉĞŶƐĞƐͿ ŽĨƚŚĞŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐŝƐƌĞƉŽƌƚĞĚǁŝƚŚŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ͘ ϲϭϱ͕ϮϬϳ ŚĂŶŐĞŝŶŶĞƚƉŽƐŝƚŝŽŶŽĨŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ ΨϯϬ͕ϲϬϱ͕Ϯϯϵ 377 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ƵƐŝŶĞƐƐͲdǇƉĞ 'ŽǀĞƌŶŵĞŶƚĂů
ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐ

ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐ /ŶƚĞƌŶĂů^ĞƌǀŝĐĞ
'ŽůĨŽƵƌƐĞ &ƵŶĚƐ
ƐƐĞƚƐ
ƵƌƌĞŶƚ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ψ ϲϱϴ͕ϭϴϮ Ψ ϵ͕ϱϭϳ͕ϰϲϮ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ ϲ͕Ϭϵϲ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϮϭϬ ϯ͕ϴϬϵ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ ϮϮϭ͕ϵϮϯ
ĞƉŽƐŝƚƐ ϮϱϬ͕ϬϬϬ Ͳ
/ŶǀĞŶƚŽƌŝĞƐ ϵϮ͕Ϯϰϵ Ͳ
dŽƚĂůĐƵƌƌĞŶƚĂƐƐĞƚƐ ϭ͕ϬϬϬ͕ϲϰϭ ϵ͕ϳϰϵ͕ϮϵϬ
EŽŶĐƵƌƌĞŶƚ
ĂƉŝƚĂůĂƐƐĞƚƐŶŽƚďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ ϯϵ͕ϳϭϮ͕ϵϱϱ ϱ͕ϵϬϰ͕ϲϰϰ ĂƉŝƚĂůĂƐƐĞƚƐ͕ŶĞƚŽĨĚĞƉƌĞĐŝĂƚŝŽŶ ϯ͕ϬϬϰ͕ϵϱϵ ϳ͕ϲϴϱ͕ϴϲϵ dŽƚĂůŶŽŶĐƵƌƌĞŶƚĂƐƐĞƚƐ ϰϮ͕ϳϭϳ͕ϵϭϰ ϭϯ͕ϱϵϬ͕ϱϭϯ
dŽƚĂůĂƐƐĞƚƐ ϰϯ͕ϳϭϴ͕ϱϱϱ Ϯϯ͕ϯϯϵ͕ϴϬϯ
>ŝĂďŝůŝƚŝĞƐ
ƵƌƌĞŶƚ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ ϱϵϲ͕ϯϵϭ ϵϰ͕ϱϰϮ
ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ ϭ͕ϮϯϮ
ĞƉŽƐŝƚƐƉĂǇĂďůĞ ϯϱ͕ϱϬϬ Ͳ
ƵƌƌĞŶƚƉŽƌƚŝŽŶŽĨĐĂƉŝƚĂůůĞĂƐĞƐ Ͳ ϮϮϳ͕ϭϬϵ
dŽƚĂůĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ ϲϯϭ͕ϴϵϭ ϯϮϮ͕ϴϴϯ
EŽŶĐƵƌƌĞŶƚ>ŝĂďŝůŝƚŝĞƐ
>ŽŶŐͲƚĞƌŵƉŽƌƚŝŽŶŽĨĐĂƉŝƚĂůůĞĂƐĞƐ Ͳ ϭϵϬ͕ϵϰϭ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϲϯϭ͕ϴϵϭ ϱϭϯ͕ϴϮϰ
EĞƚWŽƐŝƚŝŽŶ
EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐĂƉŝƚĂůĂƐƐĞƚƐ ϰϮ͕ϳϭϳ͕ϵϭϰ ϭϯ͕ϭϳϮ͕ϰϲϯ hŶƌĞƐƚƌŝĐƚĞĚ ϯϲϴ͕ϳϱϬ ϵ͕ϲϱϯ͕ϱϭϲ
dŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ Ψϰϯ͕Ϭϴϲ͕ϲϲϰ ΨϮϮ͕ϴϮϱ͕ϵϳϵ
378 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶƐĞƐ͕ĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚEĞƚWŽƐŝƚŝŽŶʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
ƵƐŝŶĞƐƐͲdǇƉĞ 'ŽǀĞƌŶŵĞŶƚĂů
ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐͲ

ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐ /ŶƚĞƌŶĂů
'ŽůĨŽƵƌƐĞ ^ĞƌǀŝĐĞ&ƵŶĚƐ
KƉĞƌĂƚŝŶŐZĞǀĞŶƵĞƐ
^ĂůĞƐĂŶĚƐĞƌǀŝĐĞĐŚĂƌŐĞƐ ϯ͕ϱϬϵ͕Ϭϵϲ Ψ ϯ͕ϳϭϱ͕ϯϬϵ Ψ KƉĞƌĂƚŝŶŐ
ǆƉĞŶƐĞƐ
ĚŵŝŶŝƐƚƌĂƚŝŽŶĂŶĚŐĞŶĞƌĂů Ͳ Ϯϯϲ͕ϱϮϯ &ƵĞůĂŶĚŽŝů Ͳ ϴϬ͕ϳϯϰ DĂŝŶƚĞŶĂŶĐĞĂŶĚƉĂƌƚƐ Ͳ ϭϭϲ͕ϳϮϴ ŽŶƚƌĂĐƚƐĞƌǀŝĐĞƐ ϯ͕ϳϲϯ͕ϵϰϲ ϰϵϱ͕ϭϳϮ ^ŽĨƚǁĂƌĞĂŶĚƐƵƉƉůŝĞƐ Ͳ ϭ͕ϭϳϬ͕ϱϬϮ ĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞ Ϯϳϯ͕ϵϲϭ ϵϲϭ͕Ϯϯϰ KƚŚĞƌ ϭϯϭ͕ϯϳϵ Ͳ dŽƚĂůŽƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐ ϰ͕ϭϲϵ͕Ϯϴϲ ϯ͕ϬϲϬ͕ϴϵϯ KƉĞƌĂƚŝŶŐ>ŽƐƐ ;ϲϲϬ͕ϭϵϬͿ ϲϱϰ͕ϰϭϲ EŽŶŽƉĞƌĂƚŝŶŐZĞǀĞŶƵĞƐ;
ǆƉĞŶƐĞƐͿ
/ŶƚĞƌĞƐƚƌĞǀĞŶƵĞ ϭϯ͕Ϭϴϭ ϭϰ͕ϱϬϯ DŝƐĐĞůůĂŶĞŽƵƐƌĞǀĞŶƵĞƐ Ͳ ϭϰ͕ϭϮϵ /ŶƚĞƌĞƐƚĞǆƉĞŶƐĞ Ͳ ;Ϯϲ͕ϵϰϴͿ dŽƚĂůŶŽŶŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐ;ĞǆƉĞŶƐĞƐͿ ϭϯ͕Ϭϴϭ ϰϴ͕ϳϳϳ /ŶĐŽŵĞ;>ŽƐƐͿĞĨŽƌĞdƌĂŶƐĨĞƌƐ ;ϲϰϳ͕ϭϬϵͿ ϳϬϯ͕ϭϵϯ dƌĂŶƐĨĞƌƐŝŶ ϴϳϱ͕ϬϬϬ Ͳ dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ;ϴϳ͕ϵϴϲͿ dŽƚĂůƚƌĂŶƐĨĞƌƐ ϴϳϱ͕ϬϬϬ ;ϴϳ͕ϵϴϲͿ ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ ϮϮϳ͕ϴϵϭ ϲϭϱ͕ϮϬϳ EĞƚWŽƐŝƚŝŽŶ͕ĞŐŝŶŶŝŶŐŽĨƚŚĞzĞĂƌ ϰϮ͕ϴϱϴ͕ϳϳϯ ϮϮ͕ϮϭϬ͕ϳϳϮ EĞƚWŽƐŝƚŝŽŶĂƚ
ŶĚŽĨzĞĂƌ ϰϯ͕Ϭϴϲ͕ϲϲϰ Ψ ϮϮ͕ϴϮϱ͕ϵϳϵ Ψ
379 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
ƵƐŝŶĞƐƐͲdǇƉĞ 'ŽǀĞƌŶŵĞŶƚĂů
ĐƚŝǀŝƚŝĞƐͲ ĐƚŝǀŝƚŝĞƐͲ

ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐ /ŶƚĞƌŶĂů
'ŽůĨŽƵƌƐĞ ^ĞƌǀŝĐĞ&ƵŶĚƐ
KƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ
ĂƐŚƌĞĐĞŝǀĞĚĨƌŽŵĐƵƐƚŽŵĞƌƐĂŶĚƵƐĞƌƐ ϯ͕ϱϬϳ͕ϰϴϲ Ψ Ͳ Ψ ĂƐŚƌĞĐĞŝǀĞĚĨƌŽŵŝŶƚĞƌĨƵŶĚƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚ Ͳ ϯ͕ϳϬϵ͕Ϯϭϰ ĂƐŚƉĂǇŵĞŶƚƐƚŽƐƵƉƉůŝĞƌƐĨŽƌŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ ;ϯ͕ϲϮϯ͕ϲϴϯͿ ;ϭ͕ϵϴϰ͕ϳϭϬͿ ĂƐŚƉĂǇŵĞŶƚƐƚŽĞŵƉůŽǇĞĞƐĨŽƌƐĞƌǀŝĐĞƐ Ͳ ;ϭͿ EĞƚĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿKƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ ;ϭϭϲ͕ϭϵϳͿ ϭ͕ϳϮϰ͕ϱϬϯ EŽŶͲĂƉŝƚĂů&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ
ĂƐŚƚƌĂŶƐĨĞƌƐŽƵƚ Ͳ ;ϴϳ͕ϵϴϲͿ ĂƐŚƚƌĂŶƐĨĞƌƐŝŶ ϴϳϱ͕ϬϬϬ Ͳ ZĞƉĂǇŵĞŶƚŽĨĂĚǀĂŶĐĞĨƌŽŵŽƚŚĞƌĨƵŶĚƐ ;ϭϭϲ͕ϱϰϭͿ Ͳ EĞƚĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿEŽŶͲĂƉŝƚĂů&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ ϳϱϴ͕ϰϱ ϵ ;ϴϳ͕ϵϴϲͿ ĂƉŝƚĂůĂŶĚZĞůĂƚĞĚ&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ
WƌŽĐĞĞĚƐĨƌŽŵĐĂƉŝƚĂůĚĞďƚ Ͳ Ͳ ĂƉŝƚĂůĐŽŶƚƌŝďƵƚŝŽŶƐ Ͳ ϭϬ͕ϭϯϬ ĐƋƵŝƐŝƚŝŽŶĂŶĚĐŽŶƐƚƌƵĐƚŝŽŶŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ ;ϭϲϭ͕ϮϴϭͿ Ͳ /ŶƚĞƌĞƐƚƉĂŝĚŽŶĐĂƉŝƚĂůĚĞďƚ Ͳ ;Ϯϲ͕ϵϰϰͿ ĂƉŝƚĂůůĞĂƐĞ ;Ϯϳϳ͕ϴϬϭͿ Ͳ WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞƐŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ Ͳ ϰϳ͕Ϭϵϯ EĞƚĂƐŚƵƐĞĚĨŽƌĂƉŝƚĂůĂŶĚZĞůĂƚĞĚ&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ ;ϰϬϴ͕ϴϬϯͿ Ͳ /ŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
/ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚŽŶŝŶǀĞƐƚŵĞŶƚƐ ϭϯ͕ϳϬϬ Ϯϳ͕ϴϬϯ EĞƚ/ŶĐƌĞĂƐĞ;ĞĐƌĞĂƐĞͿŝŶĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐ ϲϱϱ͕ϵϲϮ ϭ͕Ϯϱϱ͕ϱϭϳ
ĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐĂƚĞŐŝŶŶŝŶŐŽĨzĞĂƌ Ϯ͕ϮϮϬ ϴ͕Ϯϲϭ͕ϵϰϱ ĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐĂƚ
ŶĚŽĨzĞĂƌ Ψϲϱϴ͕ϭϴϮ Ψϵ͕ϱϭϳ͕ϰϲϮ
380 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐʹWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
ƵƐŝŶĞƐƐͲdǇƉĞ 'ŽǀĞƌŶŵĞŶƚĂů
ĐƚŝǀŝƚŝĞƐͲ ĐƚŝǀŝƚŝĞƐͲ

ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐ /ŶƚĞƌŶĂů
'ŽůĨŽƵƌƐĞ ^ĞƌǀŝĐĞ&ƵŶĚƐ
ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨKƉĞƌĂƚŝŶŐ;>ŽƐƐͿƚŽEĞƚĂƐŚ
ƵƐĞĚĨŽƌKƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ
KƉĞƌĂƚŝŶŐ;ůŽƐƐͿ ;ϲϲϬ͕ϭϵϬͿ Ψ ϲϱϰ͕ϰϭϲ Ψ ĚũƵƐƚŵĞŶƚƐƚŽƌĞĐŽŶĐŝůĞŽƉĞƌĂƚŝŶŐŝŶĐŽŵĞ;ůŽƐƐͿƚŽ
ŶĞƚĐĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ͗
ĞƉƌĞĐŝĂƚŝŽŶ Ϯϳϯ͕ϵϲϭ ϵϲϭ͕Ϯϯϰ ŚĂŶŐĞƐŝŶ
ĐĐŽƵŶƚƐƌĞĐĞŝǀĂďůĞ Ͳ ;ϲ͕ϬϵϲͿ /ŶǀĞŶƚŽƌŝĞƐ ϭϯ͕ϱϲϳ Ͳ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ϯϯϳ͕ϭϳϴ ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ϯϱϴ͕Ϭϳϱ ;ϭϮϮ͕ϬϴϵͿ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ ;ϭ͕ ;ϭϰϬͿ ϲϭϬͿ EĞƚĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿKƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ ;ϭϭϲ͕ϭϵϳͿ Ψ ϭ͕ϳϮϰ͕ϱϬϯ Ψ 381 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ Ϯϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ
:ƵŶĞϯϬ͕ϮϬϮϭ
WĞŶƐŝŽŶdƌƵƐƚ WƌŝǀĂƚĞͲWƵƌƉŽƐĞ
&ƵŶĚ dƌƵƐƚ&ƵŶĚ
^ƵĐĐĞƐƐŽƌ
^ƵƉƉůĞŵĞŶƚĂů ŐĞŶĐǇŽĨƚŚĞ
WĞŶƐŝŽŶWůĂŶ ĨŽƌŵĞƌZ
ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ψ ϵϰ͕ϳϰϵ Ψ Ϯϲ͕Ϯϳϵ͕ϭϯϮ ZĞĐĞŝǀĂďůĞƐ
EŽƚĞƐĂŶĚůŽĂŶƐ ϭ͕Ϭϭϯ͕ϰϵϰ Ͳ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϯϴ ϵ͕ϱϯϲ
WƌĞƉĂŝĚĂƐƐĞƚ Ͳ ϯϮϴ͕ϭϬϴ
ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ ϭ͕ϰϱϴ͕ϳϵϬ Ͳ
ZĞƐƚƌŝĐƚĞĚĂƐƐĞƚƐ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐǁŝƚŚĨŝƐĐĂůĂŐĞŶƚ Ͳ ϭ͕ϰϮϭ
dŽƚĂůĂƐƐĞƚƐ ϵϰ͕ϳϴϳ Ϯϵ͕ϬϵϬ͕ϰϴϭ
ĞĨĞƌƌĞĚKƵƚĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
ĞĨĞƌƌĞĚĐŚĂƌŐĞŽŶƌĞĨƵŶĚŝŶŐ ϭϲ͕ϴϵϭ͕ϱϬϰ Ͳ
dŽƚĂůĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ ϭϲ͕ϴϵϭ͕ϱϬϰ Ͳ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ͳ ϴ͕Ϯϯϴ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ Ͳ ϵϬϭ͕ϳϲϲ
>ŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐ
ƵĞŝŶŽŶĞǇĞĂƌ ϭϱ͕Ϯϴϴ͕ϲϭϬ Ͳ
ƵĞŝŶŵŽƌĞƚŚĂŶŽŶĞǇĞĂƌ ϮϬϭ͕Ϭϰϲ͕ϯϭϵ Ͳ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ Ϯϭϳ͕Ϯϰϰ͕ϵϯϯ Ͳ
EĞƚWŽƐŝƚŝŽŶ;ĞĨŝĐŝƚͿ
ZĞƐƚƌŝĐƚĞĚĨŽƌƉĞŶƐŝŽŶƐ Ψ ϵϰ͕ϳϴϳ
,ĞůĚŝŶƚƌƵƐƚ Ψ;ϭϳϭ͕ϮϲϮ͕ϵϰϴͿ
382 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ϯϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ƚĂƚĞŵĞŶƚŽĨŚĂŶŐĞƐŝŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
WĞŶƐŝŽŶdƌƵƐƚ WƌŝǀĂƚĞͲWƵƌƉŽƐĞ
&ƵŶĚ dƌƵƐƚ&ƵŶĚ
^ƵĐĐĞƐƐŽƌ
^ƵƉƉůĞŵĞŶƚĂů ŐĞŶĐǇŽĨƚŚĞ
WĞŶƐŝŽŶWůĂŶ &ŽƌŵĞƌZ
ĚĚŝƚŝŽŶƐ
dĂǆĞƐ Ψ ϮϬ͕ϳϵϴ͕ϵϵϱ Ͳ Ψ
EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ;ϮϰϲͿ ;ϭϱϲ͕ϴϴϲͿ KƚŚĞƌƌĞǀĞŶƵĞƐ ϱ͕ϬϬϬ Ϯ͕ϱϮϲ͕ϯϴϭ dŽƚĂůĂĚĚŝƚŝŽŶƐ ϰ͕ϳϱϰ Ϯϯ͕ϭϲϴ͕ϰϵϬ ĞĚƵĐƚŝŽŶƐ
ĚŵŝŶŝƐƚƌĂƚŝǀĞĞǆƉĞŶƐĞƐ ϭϮ͕ϴϯϯ ϰϱϮ͕ϵϯϮ ŽŶƚƌĂĐƚƵĂůƐĞƌǀŝĐĞƐ ϳ͕ϱϯϲ͕ϳϴϰ Ͳ /ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ ϳ͕ϱϭϮ͕ϴϳϬ Ͳ >ĂŶĚĐƋƵŝƐŝƚŝŽŶ ϱ͕ϴϭϯ͕ϰϯϲ Ͳ dŽƚĂůĚĞĚƵĐƚŝŽŶƐ ϭϮ͕ϴϯϯ Ϯϭ͕ϯϭϲ͕ϬϮϮ

ǆƚƌĂŽƌĚŝŶĂƌǇ/ƚĞŵ
^ƵĐĐĞƐƐŽƌŐĞŶĐǇůŽĂŶƉƌŝŶĐŝƉĂů Ͳ ;ϳϯϵ͕ϵϯϯͿ ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ ;ϴ͕ϬϳϵͿ ϭ͕ϭϭϮ͕ϱϯϱ EĞƚWŽƐŝƚŝŽŶͬ;ĞĨŝĐŝƚͿͲĞŐŝŶŶŝŶŐŽĨƚŚĞzĞĂƌ ϭϬϮ͕ϴϲϲ ;ϭϳϮ͕ϯϳϱ͕ϰϴϯͿ EĞƚWŽƐŝƚŝŽŶͬ;ĞĨŝĐŝƚͿͲ
ŶĚŽĨƚŚĞzĞĂƌ Ψϵϰ͕ϳϴϳ Ψ;ϭϳϭ͕ϮϲϮ͕ϵϰϴͿ
383 CLICK HERE to Return to Agenda
ϯϭ
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ͘
384 CLICK HERE to Return to Agenda
ϯϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
EŽƚĞϭͲ ^ƵŵŵĂƌǇŽĨ^ŝŐŶŝĨŝĐĂŶƚĐĐŽƵŶƚŝŶŐWŽůŝĐŝĞƐ
ZĞƉŽƌƚŝŶŐ
ŶƚŝƚǇ
dŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ;ŝƚǇͿǁĂƐŝŶĐŽƌƉŽƌĂƚĞĚDĂǇϭ͕ϭϵϴϮ͕ƵŶĚĞƌƚŚĞŐĞŶĞƌĂůůĂǁƐŽĨƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘/Ŷ EŽǀĞŵďĞƌϭϵϵϲ͕ƚŚĞŝƚǇďĞĐĂŵĞĂĐŚĂƌƚĞƌŝƚǇ͘dŚĞŝƚǇŽƉĞƌĂƚĞƐƵŶĚĞƌƚŚĞŽƵŶĐŝůʹDĂŶĂŐĞƌĨŽƌŵŽĨ ŐŽǀĞƌŶŵĞŶƚ͘
dŚĞŝƚǇƉƌŽǀŝĚĞƐŵĂŶǇĐŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐŝŶĐůƵĚŝŶŐƉƵďůŝĐƐĂĨĞƚǇ͕ŚŝŐŚǁĂǇĂŶĚƐƚƌĞĞƚŵĂŝŶƚĞŶĂŶĐĞ͕ŚĞĂůƚŚĂŶĚ ƐŽĐŝĂůƐĞƌǀŝĐĞƐ͕ĐƵůƚƵƌĂůĂŶĚůĞŝƐƵƌĞƐĞƌǀŝĐĞƐ͕ƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐ͕ƉůĂŶŶŝŶŐĂŶĚǌŽŶŝŶŐƐĞƌǀŝĐĞƐ͕ĂŶĚĐŽŵŵƵŶŝƚǇ ĚĞǀĞůŽƉŵĞŶƚƐĞƌǀŝĐĞƐ͘
dŚĞĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐŽĨƚŚĞŝƚǇĐŽŶĨŽƌŵƚŽŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐĂƐĂƉƉůŝĐĂďůĞƚŽ ŐŽǀĞƌŶŵĞŶƚƐ͘ƐƌĞƋƵŝƌĞĚďǇŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐ͕ƚŚĞƐĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƉƌĞƐĞŶƚƚŚĞ ŝƚǇĂŶĚŝƚƐĐŽŵƉŽŶĞŶƚƵŶŝƚƐ͕ǁŚŝĐŚĂƌĞĞŶƚŝƚŝĞƐĨŽƌǁŚŝĐŚƚŚĞŝƚǇŝƐĐŽŶƐŝĚĞƌĞĚƚŽďĞĨŝŶĂŶĐŝĂůůǇĂĐĐŽƵŶƚĂďůĞ͘ dŚĞŝƚǇŝƐĐŽŶƐŝĚĞƌĞĚƚŽďĞĨŝŶĂŶĐŝĂůůǇĂĐĐŽƵŶƚĂďůĞĨŽƌĂŶŽƌŐĂŶŝǌĂƚŝŽŶŝĨƚŚĞŝƚǇĂƉƉŽŝŶƚƐĂǀŽƚŝŶŐŵĂũŽƌŝƚǇŽĨ ƚŚĂƚŽƌŐĂŶŝǌĂƚŝŽŶ͛ƐŐŽǀĞƌŶŝŶŐďŽĚǇĂŶĚƚŚĞŝƚǇŝƐĂďůĞƚŽŝŵƉŽƐĞŝƚƐǁŝůůŽŶƚŚĂƚŽƌŐĂŶŝǌĂƚŝŽŶŽƌƚŚĞƌĞŝƐĂ ƉŽƚĞŶƚŝĂůĨŽƌƚŚĂƚŽƌŐĂŶŝǌĂƚŝŽŶƚŽƉƌŽǀŝĚĞƐƉĞĐŝĨŝĐĨŝŶĂŶĐŝĂůďĞŶĞĨŝƚƐƚŽŽƌŝŵƉŽƐĞƐƉĞĐŝĨŝĐĨŝŶĂŶĐŝĂůďƵƌĚĞŶƐŽŶ ƚŚĞŝƚǇ͘dŚĞŝƚǇŝƐĂůƐŽĐŽŶƐŝĚĞƌĞĚƚŽďĞĨŝŶĂŶĐŝĂůůǇĂĐĐŽƵŶƚĂďůĞŝĨĂŶŽƌŐĂŶŝǌĂƚŝŽŶŝƐĨŝƐĐĂůůǇĚĞƉĞŶĚĞŶƚ;ŝ͘Ğ͕͘ŝƚŝƐ ƵŶĂďůĞƚŽĂĚŽƉƚŝƚƐďƵĚŐĞƚ͕ůĞǀǇƚĂǆĞƐ͕ƐĞƚƌĂƚĞƐŽƌĐŚĂƌŐĞƐ͕ŽƌŝƐƐƵĞďŽŶĚĞĚĚĞďƚǁŝƚŚŽƵƚĂƉƉƌŽǀĂůĨƌŽŵƚŚĞ ŝƚǇͿ͘/ŶĐĞƌƚĂŝŶĐĂƐĞƐ͕ŽƚŚĞƌŽƌŐĂŶŝǌĂƚŝŽŶƐĂƌĞŝŶĐůƵĚĞĚĂƐĐŽŵƉŽŶĞŶƚƵŶŝƚƐŝĨƚŚĞŶĂƚƵƌĞĂŶĚƐŝŐŶŝĨŝĐĂŶĐĞŽĨƚŚĞŝƌ ƌĞůĂƚŝŽŶƐŚŝƉǁŝƚŚƚŚĞŝƚǇĂƌĞƐƵĐŚƚŚĂƚƚŚĞŝƌĞǆĐůƵƐŝŽŶǁŽƵůĚĐĂƵƐĞƚŚĞŝƚǇ͛ƐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŽďĞ ŵŝƐůĞĂĚŝŶŐŽƌŝŶĐŽŵƉůĞƚĞ͘
ůůŽĨƚŚĞŝƚǇ͛ƐĐŽŵƉŽŶĞŶƚƵŶŝƚƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞďůĞŶĚĞĚĐŽŵƉŽŶĞŶƚƵŶŝƚƐ͘ůĞŶĚĞĚĐŽŵƉŽŶĞŶƚƵŶŝƚƐ͕ ĂůƚŚŽƵŐŚůĞŐĂůůǇƐĞƉĂƌĂƚĞĞŶƚŝƚŝĞƐ͕ĂƌĞ͕ŝŶƐƵďƐƚĂŶĐĞ͕ƉĂƌƚŽĨƚŚĞŝƚǇ͛ƐŽƉĞƌĂƚŝŽŶƐĂŶĚƐŽĚĂƚĂĨƌŽŵƚŚĞƐĞƵŶŝƚƐ ĂƌĞƌĞƉŽƌƚĞĚǁŝƚŚƚŚĞŝŶƚĞƌĨƵŶĚĚĂƚĂŽĨƚŚĞƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚ͘ dŚĞĨŽůůŽǁŝŶŐŽƌŐĂŶŝǌĂƚŝŽŶƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞĐŽŵƉŽŶĞŶƚƵŶŝƚƐŽĨƚŚĞŝƚǇ͗ ŝƚǇŽĨ>ĂYƵŝŶƚĂWƵďůŝĐ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ
dŚĞ>ĂYƵŝŶƚĂWƵďůŝĐ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ;&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇͿǁĂƐĞƐƚĂďůŝƐŚĞĚƉƵƌƐƵĂŶƚƚŽĂ:ŽŝŶƚ ǆĞƌĐŝƐĞŽĨ
WŽǁĞƌƐŐƌĞĞŵĞŶƚĚĂƚĞĚEŽǀĞŵďĞƌϭϵ͕ϭϵϵϭ͕ďĞƚǁĞĞŶƚŚĞŝƚǇĂŶĚƚŚĞ&ŽƌŵĞƌZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ;ŶŽǁ ^ƵĐĐĞƐƐŽƌŐĞŶĐǇͿ͘dŚĞƉƵƌƉŽƐĞŽĨƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇŝƐƚŽƉƌŽǀŝĚĞĨŝŶĂŶĐŝŶŐŶĞĐĞƐƐĂƌǇĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶ ŽĨǀĂƌŝŽƵƐƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚƐƚŚƌŽƵŐŚƚŚĞŝƐƐƵĂŶĐĞŽĨĚĞďƚ͘ůƚŚŽƵŐŚƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇŝƐůĞŐĂůůǇ ƐĞƉĂƌĂƚĞ͕ŝƚŝƐƌĞƉŽƌƚĞĚĂƐŝĨŝƚǁĞƌĞƉĂƌƚŽĨƚŚĞŝƚǇďĞĐĂƵƐĞƚŚĞŝƚǇŽƵŶĐŝůĂůƐŽƐĞƌǀĞƐĂƐƚŚĞŐŽǀĞƌŶŝŶŐďŽĂƌĚ ŽĨƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇĂŶĚƚŚĞŵĂŶĂŐĞŵĞŶƚŽĨƚŚĞŝƚǇŚĂƐŽƉĞƌĂƚŝŽŶĂůƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƚŚĞ&ŝŶĂŶĐŝŶŐ ƵƚŚŽƌŝƚǇ͘dŚĞĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇĂƌĞƌĞĐŽƌĚĞĚŝŶƚŚĞĚĞďƚƐĞƌǀŝĐĞĨƵŶĚ͘^ĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇĂƌĞŶŽƚƉƌĞƉĂƌĞĚ͘ 385 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ
dŚĞ>ĂYƵŝŶƚĂ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ;,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇͿǁĂƐĞƐƚĂďůŝƐŚĞĚƉƵƌƐƵĂŶƚƚŽĂůŝĨŽƌŶŝĂ,ŽƵƐŝŶŐƵƚŚŽƌŝƚŝĞƐ >Ăǁ;,ĞĂůƚŚĂŶĚ^ĂĨĞƚǇŽĚĞ^ĞĐƚŝŽŶƐϯϰϮϬϬĞƚƐĞƋ͘ͿŽŶ^ĞƉƚĞŵďĞƌϭϱ͕ϮϬϬϵ͘dŚĞƉƵƌƉŽƐĞŽĨƚŚĞ,ŽƵƐŝŶŐ ƵƚŚŽƌŝƚǇŝƐƚŽƉƌŽǀŝĚĞƐĂĨĞĂŶĚƐĂŶŝƚĂƌǇŚŽƵƐŝŶŐŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌ>ĂYƵŝŶƚĂƌĞƐŝĚĞŶƚƐ͘ůƚŚŽƵŐŚƚŚĞ,ŽƵƐŝŶŐ ƵƚŚŽƌŝƚǇŝƐůĞŐĂůůǇƐĞƉĂƌĂƚĞ͕ŝƚŝƐƌĞƉŽƌƚĞĚĂƐŝĨŝƚǁĞƌĞƉĂƌƚŽĨƚŚĞŝƚǇďĞĐĂƵƐĞƚŚĞŝƚǇŽƵŶĐŝůĂůƐŽƐĞƌǀĞƐĂƐƚŚĞ ŐŽǀĞƌŶŝŶŐďŽĂƌĚŽĨƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇĂŶĚƚŚĞŵĂŶĂŐĞŵĞŶƚŽĨƚŚĞŝƚǇŚĂƐŽƉĞƌĂƚŝŽŶĂůƌĞƐƉŽŶƐŝďŝůŝƚǇĨŽƌƚŚĞ ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ͘dŚĞĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇĂƌĞƌĞĐŽƌĚĞĚŝŶƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ^ƉĞĐŝĂů ZĞǀĞŶƵĞ&ƵŶĚ͘^ĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇĂƌĞŶŽƚƉƌĞƉĂƌĞĚ͘ 'ŽǀĞƌŶŵĞŶƚͲtŝĚĞĂŶĚ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
dŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŝƚǇĂƌĞĐŽŵƉŽƐĞĚŽĨƚŚĞĨŽůůŽǁŝŶŐ͗ • 'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
• &ƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
• EŽƚĞƐƚŽƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
dŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ;ŝ͘Ğ͕͘ƚŚĞƐƚĂƚĞŵĞŶƚŽĨŶĞƚƉŽƐŝƚŝŽŶĂŶĚƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐͿ ƌĞƉŽƌƚŝŶĨŽƌŵĂƚŝŽŶŽŶĂůůŽĨƚŚĞŶŽŶĨŝĚƵĐŝĂƌǇĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚĂŶĚŝƚƐĐŽŵƉŽŶĞŶƚƵŶŝƚƐ͘ůů ĨŝĚƵĐŝĂƌǇĂĐƚŝǀŝƚŝĞƐĂƌĞƌĞƉŽƌƚĞĚŽŶůǇŝŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘'ŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ͕ǁŚŝĐŚŶŽƌŵĂůůǇ ĂƌĞƐƵƉƉŽƌƚĞĚďǇƚĂǆĞƐ͕ŝŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂůƌĞǀĞŶƵĞƐ͕ĂŶĚŽƚŚĞƌŶŽŶĞǆĐŚĂŶŐĞƚƌĂŶƐĂĐƚŝŽŶƐ͕ĂƌĞƌĞƉŽƌƚĞĚ ƐĞƉĂƌĂƚĞůǇĨƌŽŵďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͕ǁŚŝĐŚƌĞůǇƚŽĂƐŝŐŶŝĨŝĐĂŶƚĞǆƚĞŶƚŽŶĨĞĞƐĂŶĚĐŚĂƌŐĞƐƚŽĞǆƚĞƌŶĂů ĐƵƐƚŽŵĞƌƐĨŽƌƐƵƉƉŽƌƚ͘>ŝŬĞǁŝƐĞ͕ƚŚĞƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚŝƐƌĞƉŽƌƚĞĚƐĞƉĂƌĂƚĞůǇĨƌŽŵĐĞƌƚĂŝŶůĞŐĂůůǇƐĞƉĂƌĂƚĞ ĐŽŵƉŽŶĞŶƚƵŶŝƚƐĨŽƌǁŚŝĐŚƚŚĞƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚŝƐĨŝŶĂŶĐŝĂůůǇĂĐĐŽƵŶƚĂďůĞ͘ dŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐĚĞŵŽŶƐƚƌĂƚĞƐƚŚĞĚĞŐƌĞĞƚŽǁŚŝĐŚƚŚĞĚŝƌĞĐƚĞǆƉĞŶƐĞƐŽĨĂŐŝǀĞŶĨƵŶĐƚŝŽŶŽƌ ƐĞŐŵĞŶƚƐĂƌĞŽĨĨƐĞƚďǇƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐ͘ŝƌĞĐƚĞǆƉĞŶƐĞƐĂƌĞƚŚŽƐĞƚŚĂƚĂƌĞĐůĞĂƌůǇŝĚĞŶƚŝĨŝĂďůĞǁŝƚŚĂƐƉĞĐŝĨŝĐ ĨƵŶĐƚŝŽŶŽƌƐĞŐŵĞŶƚ͘WƌŽŐƌĂŵƌĞǀĞŶƵĞƐŝŶĐůƵĚĞĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐ͕ƐƉĞĐŝĂůĂƐƐĞƐƐŵĞŶƚƐ͕ĂŶĚƉĂǇŵĞŶƚƐŵĂĚĞ ďǇƉĂƌƚŝĞƐŽƵƚƐŝĚĞŽĨƚŚĞƌĞƉŽƌƚŝŶŐŝƚǇ͛ƐĐŝƚŝǌĞŶƌǇŝĨƚŚĂƚŵŽŶĞǇŝƐƌĞƐƚƌŝĐƚĞĚƚŽĂƉĂƌƚŝĐƵůĂƌƉƌŽŐƌĂŵ͘WƌŽŐƌĂŵ ƌĞǀĞŶƵĞƐĂƌĞŶĞƚƚĞĚǁŝƚŚƉƌŽŐƌĂŵĞǆƉĞŶƐĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĂĐƚŝǀŝƚŝĞƐƚŽƉƌĞƐĞŶƚƚŚĞŶĞƚĐŽƐƚŽĨĞĂĐŚ ƉƌŽŐƌĂŵ͘dĂǆĞƐĂŶĚŽƚŚĞƌŝƚĞŵƐŶŽƚƉƌŽƉĞƌůǇŝŶĐůƵĚĞĚĂŵŽŶŐƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐĂƌĞƌĞƉŽƌƚĞĚŝŶƐƚĞĂĚĂƐŐĞŶĞƌĂů ƌĞǀĞŶƵĞƐ͘ŵŽƵŶƚƐƉĂŝĚƚŽĂĐƋƵŝƌĞĐĂƉŝƚĂůĂƐƐĞƚƐĂƌĞĐĂƉŝƚĂůŝǌĞĚĂƐĂƐƐĞƚƐŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͕ƌĂƚŚĞƌƚŚĂŶƌĞƉŽƌƚĞĚĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘WƌŽĐĞĞĚƐŽĨůŽŶŐͲƚĞƌŵĚĞďƚĂƌĞƌĞĐŽƌĚĞĚĂƐĂůŝĂďŝůŝƚǇŝŶƚŚĞ ŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ƌĂƚŚĞƌƚŚĂŶĂƐŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ͘ŵŽƵŶƚƐƉĂŝĚƚŽƌĞĚƵĐĞůŽŶŐͲ ƚĞƌŵŝŶĚĞďƚĞĚŶĞƐƐŽĨƚŚĞƌĞƉŽƌƚŝŶŐŐŽǀĞƌŶŵĞŶƚĂƌĞƌĞƉŽƌƚĞĚĂƐĂƌĞĚƵĐƚŝŽŶŽĨƚŚĞƌĞůĂƚĞĚůŝĂďŝůŝƚǇ͕ƌĂƚŚĞƌƚŚĂŶ ĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘
386 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϰ
&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
dŚĞƵŶĚĞƌůǇŝŶŐĂĐĐŽƵŶƚŝŶŐƐǇƐƚĞŵŽĨƚŚĞŝƚǇŝƐŽƌŐĂŶŝǌĞĚĂŶĚŽƉĞƌĂƚĞĚŽŶƚŚĞďĂƐŝƐŽĨƐĞƉĂƌĂƚĞĨƵŶĚƐ͕ĞĂĐŚŽĨ ǁŚŝĐŚŝƐĐŽŶƐŝĚĞƌĞĚƚŽďĞĂƐĞƉĂƌĂƚĞĂĐĐŽƵŶƚŝŶŐĞŶƚŝƚǇ͘dŚĞŽƉĞƌĂƚŝŽŶƐŽĨĞĂĐŚĨƵŶĚĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌǁŝƚŚĂ ƐĞƉĂƌĂƚĞƐĞƚŽĨƐĞůĨͲďĂůĂŶĐŝŶŐĂĐĐŽƵŶƚƐƚŚĂƚĐŽŵƉƌŝƐĞŝƚƐĂƐƐĞƚƐ͕ĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ůŝĂďŝůŝƚŝĞƐ͕ ĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ĨƵŶĚĞƋƵŝƚǇ͕ƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐŽƌĞǆƉĞŶƐĞƐ͕ĂƐĂƉƉƌŽƉƌŝĂƚĞ͘ 'ŽǀĞƌŶŵĞŶƚĂůƌĞƐŽƵƌĐĞƐĂƌĞĂůůŽĐĂƚĞĚƚŽĂŶĚĂĐĐŽƵŶƚĞĚĨŽƌŝŶŝŶĚŝǀŝĚƵĂůĨƵŶĚƐďĂƐĞĚƵƉŽŶƚŚĞƉƵƌƉŽƐĞƐĨŽƌ ǁŚŝĐŚƚŚĞǇĂƌĞƚŽďĞƐƉĞŶƚĂŶĚƚŚĞŵĞĂŶƐďǇǁŚŝĐŚƐƉĞŶĚŝŶŐĂĐƚŝǀŝƚŝĞƐĂƌĞĐŽŶƚƌŽůůĞĚ͘ &ƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞŐŽǀĞƌŶŵĞŶƚĂů͕ƉƌŽƉƌŝĞƚĂƌǇ͕ĂŶĚĨŝĚƵĐŝĂƌǇĨƵŶĚƐĂƌĞƉƌĞƐĞŶƚĞĚĂĨƚĞƌƚŚĞ ŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞƐĞƐƚĂƚĞŵĞŶƚƐĚŝƐƉůĂǇŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚŵĂũŽƌĨƵŶĚƐŝŶĚŝǀŝĚƵĂůůǇ ĂŶĚŶŽŶŵĂũŽƌĨƵŶĚƐŝŶƚŚĞĂŐŐƌĞŐĂƚĞĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĂŶĚƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͘&ŝĚƵĐŝĂƌǇƐƚĂƚĞŵĞŶƚƐŝŶĐůƵĚĞ ĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶĨŽƌĨŝĚƵĐŝĂƌǇĨƵŶĚƐ͘&ŝĚƵĐŝĂƌǇĨƵŶĚƐŽĨƚŚĞĐŝƚǇƉƌŝŵĂƌŝůǇƌĞƉƌĞƐĞŶƚĂƐƐĞƚƐŚĞůĚďǇƚŚĞŝƚǇŝŶ ĂĐƵƐƚŽĚŝĂůĐĂƉĂĐŝƚǇĨŽƌŽƚŚĞƌŝŶĚŝǀŝĚƵĂůƐŽƌŽƌŐĂŶŝǌĂƚŝŽŶƐ͘ DĞĂƐƵƌĞŵĞŶƚ&ŽĐƵƐ͕ĂƐŝƐŽĨĐĐŽƵŶƚŝŶŐĂŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚWƌĞƐĞŶƚĂƚŝŽŶ 'ŽǀĞƌŶŵĞŶƚͲtŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
tŚŝůĞƐĞƉĂƌĂƚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĂŶĚĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞƉƌĞƐĞŶƚĞĚ͕ƚŚĞǇĂƌĞŝŶƚĞƌƌĞůĂƚĞĚ͘dŚĞ ŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐĐŽůƵŵŶŝŶĐŽƌƉŽƌĂƚĞƐĚĂƚĂĨƌŽŵŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂŶĚŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐ͕ǁŚŝůĞ ďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐŝŶĐŽƌƉŽƌĂƚĞĚĂƚĂĨƌŽŵƚŚĞŐŽǀĞƌŶŵĞŶƚΖƐĞŶƚĞƌƉƌŝƐĞĨƵŶĚƐ͘^ĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ĂƌĞƉƌŽǀŝĚĞĚĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͕ƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͕ĂŶĚĨŝĚƵĐŝĂƌǇĨƵŶĚƐ͕ĞǀĞŶƚŚŽƵŐŚƚŚĞůĂƚƚĞƌĂƌĞ ĞǆĐůƵĚĞĚĨƌŽŵƚŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ dŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞƌĞƉŽƌƚĞĚƵƐŝŶŐƚŚĞ ĞĐŽŶŽŵŝĐƌĞƐŽƵƌĐĞƐŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐďĂƐŝƐ ŽĨĂĐĐŽƵŶƚŝŶŐ͘ZĞǀĞŶƵĞƐĂƌĞƌĞĐŽƌĚĞĚǁŚĞŶĞĂƌŶĞĚĂŶĚĞǆƉĞŶƐĞƐĂƌĞƌĞĐŽƌĚĞĚǁŚĞŶĂůŝĂďŝůŝƚǇŝƐŝŶĐƵƌƌĞĚ ƌĞŐĂƌĚůĞƐƐŽĨƚŚĞƌĞůĂƚĞĚĐĂƐŚĨůŽǁƐ͘WƌŽƉĞƌƚǇƚĂǆĞƐĂƌĞƌĞĐŽŐŶŝǌĞĚŝŶƚŚĞǇĞĂƌƚŚĞǇĂƌĞůĞǀŝĞĚ͘'ƌĂŶƚƐĂŶĚƐŝŵŝůĂƌ ŝƚĞŵƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƐŽŽŶĂƐĂůůĞůŝŐŝďŝůŝƚǇƌĞƋƵŝƌĞŵĞŶƚƐŝŵƉŽƐĞĚďǇƚŚĞƉƌŽǀŝĚĞƌƐĂƌĞŵĞƚ͘ 'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
/ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂƌĞƉƌĞƐĞŶƚĞĚƵƐŝŶŐƚŚĞŵŽĚŝĨŝĞĚͲĂĐĐƌƵĂůďĂƐŝƐŽĨ ĂĐĐŽƵŶƚŝŶŐ͘dŚĞŝƌƌĞǀĞŶƵĞƐĂƌĞƌĞĐŽŐŶŝǌĞĚǁŚĞŶƚŚĞǇďĞĐŽŵĞŵĞĂƐƵƌĂďůĞĂŶĚĂǀĂŝůĂďůĞĂƐŶĞƚĐƵƌƌĞŶƚĂƐƐĞƚƐ͘ DĞĂƐƵƌĂďůĞŵĞĂŶƐƚŚĂƚƚŚĞĂŵŽƵŶƚƐĐĂŶďĞĞƐƚŝŵĂƚĞĚ͕ŽƌŽƚŚĞƌǁŝƐĞĚĞƚĞƌŵŝŶĞĚ͘ǀĂŝůĂďůĞŵĞĂŶƐƚŚĂƚƚŚĞ ĂŵŽƵŶƚƐǁĞƌĞĐŽůůĞĐƚĞĚĚƵƌŝŶŐƚŚĞƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚŽƌƐŽŽŶĞŶŽƵŐŚƚŚĞƌĞĂĨƚĞƌƚŽďĞĂǀĂŝůĂďůĞƚŽĨŝŶĂŶĐĞƚŚĞ ĞǆƉĞŶĚŝƚƵƌĞƐĂĐĐƌƵĞĚĨŽƌƚŚĞƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚ͘dŚĞŝƚǇƵƐĞƐĂϲϬͲĚĂǇĂǀĂŝůĂďŝůŝƚǇƉĞƌŝŽĚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƚŝŽŶŝƐƐƵďũĞĐƚƚŽƚŚĞŵĞĂƐƵƌĂďůĞĂŶĚĂǀĂŝůĂďŝůŝƚǇĐƌŝƚĞƌŝĂĨŽƌƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐŝŶƚŚĞĨƵŶĚ ĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
ǆĐŚĂŶŐĞƚƌĂŶƐĂĐƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞƐŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞǇĂƌĞĞĂƌŶĞĚ ;ŝ͘Ğ͕͘ƚŚĞƌĞůĂƚĞĚŐŽŽĚƐŽƌƐĞƌǀŝĐĞƐĂƌĞƉƌŽǀŝĚĞĚͿ͘>ŽĐĂůůǇŝŵƉŽƐĞĚĚĞůŝǀĞƌĞĚƚĂǆƌĞǀĞŶƵĞƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐ ƌĞǀĞŶƵĞƐŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞƵŶĚĞƌůǇŝŶŐĞǆĐŚĂŶŐĞƚƌĂŶƐĂĐƚŝŽŶŽŶǁŚŝĐŚƚŚĞǇĂƌĞďĂƐĞĚƚĂŬĞƐƉůĂĐĞ͘ /ŵƉŽƐĞĚŶŽŶĞǆĐŚĂŶŐĞƚƌĂŶƐĂĐƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞƐŝŶƚŚĞƉĞƌŝŽĚĨŽƌǁŚŝĐŚƚŚĞǇǁĞƌĞŝŵƉŽƐĞĚ͘/Ĩ ƚŚĞƉĞƌŝŽĚŽĨƵƐĞŝƐŶŽƚƐƉĞĐŝĨŝĞĚ͕ƚŚĞǇĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞƐǁŚĞŶĂŶĞŶĨŽƌĐĞĂďůĞůĞŐĂůĐůĂŝŵƚŽƚŚĞ ƌĞǀĞŶƵĞƐĂƌŝƐĞƐŽƌǁŚĞŶƚŚĞǇĂƌĞƌĞĐĞŝǀĞĚ͕ǁŚŝĐŚĞǀĞƌŽĐĐƵƌƐĨŝƌƐƚ͘'ŽǀĞƌŶŵĞŶƚͲŵĂŶĚĂƚĞĚĂŶĚǀŽůƵŶƚĂƌǇŶŽŶͲ ĞǆĐŚĂŶŐĞƚƌĂŶƐĂĐƚŝŽŶƐĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞƐǁŚĞŶĂůůĂƉƉůŝĐĂďůĞĞůŝŐŝďŝůŝƚǇƌĞƋƵŝƌĞŵĞŶƚƐŚĂǀĞďĞĞŶŵĞƚ͘ 387 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϱ
WƌŽƉĞƌƚǇƚĂǆĞƐ͕ĨƌĂŶĐŚŝƐĞƚĂǆĞƐ͕ůŝĐĞŶƐĞƐĂŶĚŝŶƚĞƌĞƐƚĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĐƵƌƌĞŶƚĨŝƐĐĂůƉĞƌŝŽĚĂƌĞĂůůĐŽŶƐŝĚĞƌĞĚ ƚŽďĞƐƵƐĐĞƉƚŝďůĞƚŽĂĐĐƌƵĂůĂŶĚƐŽŚĂǀĞďĞĞŶƌĞĐŽŐŶŝǌĞĚĂƐƌĞǀĞŶƵĞƐŽĨƚŚĞĐƵƌƌĞŶƚĨŝƐĐĂůƉĞƌŝŽĚ͘ůůŽƚŚĞƌ ƌĞǀĞŶƵĞŝƚĞŵƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞŵĞĂƐƵƌĂďůĞĂŶĚĂǀĂŝůĂďůĞŽŶůǇǁŚĞŶĐĂƐŚŝƐƌĞĐĞŝǀĞĚďǇƚŚĞŐŽǀĞƌŶŵĞŶƚ͘ /ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂƌĞƉƌĞƐĞŶƚĞĚƵƐŝŶŐƚŚĞĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐ ŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐ͘dŚŝƐŵĞĂŶƐƚŚĂƚŽŶůǇĐƵƌƌĞŶƚĂƐƐĞƚƐ͕ĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ͕ĂŶĚ ĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐĂƌĞŐĞŶĞƌĂůůǇŝŶĐůƵĚĞĚŽŶƚŚĞŝƌďĂůĂŶĐĞƐŚĞĞƚƐ͘dŚĞƌĞƉŽƌƚĞĚĨƵŶĚďĂůĂŶĐĞŝƐ ĐŽŶƐŝĚĞƌĞĚƚŽďĞĂŵĞĂƐƵƌĞŽĨ͞ĂǀĂŝůĂďůĞƐƉĞŶĚĂďůĞƌĞƐŽƵƌĐĞƐ͘͟'ŽǀĞƌŶŵĞŶƚĂůĨƵŶĚŽƉĞƌĂƚŝŶŐƐƚĂƚĞŵĞŶƚƐ ƉƌĞƐĞŶƚŝŶĐƌĞĂƐĞƐ;ƌĞǀĞŶƵĞƐĂŶĚŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐͿĂŶĚĚĞĐƌĞĂƐĞƐ;ĞǆƉĞŶĚŝƚƵƌĞƐĂŶĚŽƚŚĞƌĨŝŶĂŶĐŝŶŐƵƐĞƐͿ͘ ĐĐŽƌĚŝŶŐůǇ͕ƚŚĞǇĂƌĞƐĂŝĚƚŽƉƌĞƐĞŶƚĂƐƵŵŵĂƌǇŽĨƐŽƵƌĐĞƐĂŶĚƵƐĞƐŽĨ͞ĂǀĂŝůĂďůĞƐƉĞŶĚĂďůĞƌĞƐŽƵƌĐĞƐ͟ĚƵƌŝŶŐĂ ƉĞƌŝŽĚ͘
EŽŶĐƵƌƌĞŶƚƉŽƌƚŝŽŶƐŽĨůŽŶŐͲƚĞƌŵƌĞĐĞŝǀĂďůĞƐĚƵĞƚŽŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂƌĞƌĞƉŽƌƚĞĚŽŶƚŚĞŝƌďĂůĂŶĐĞƐŚĞĞƚƐŝŶ ƐƉŝƚĞŽĨƚŚĞŝƌƐƉĞŶĚŝŶŐŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐ͘^ƉĞĐŝĂůƌĞƉŽƌƚŝŶŐƚƌĞĂƚŵĞŶƚƐĂƌĞƵƐĞĚƚŽŝŶĚŝĐĂƚĞ͕ŚŽǁĞǀĞƌ͕ƚŚĂƚ ƚŚĞǇƐŚŽƵůĚŶŽƚďĞĐŽŶƐŝĚĞƌĞĚ͞ĂǀĂŝůĂďůĞƐƉĞŶĚĂďůĞƌĞƐŽƵƌĐĞƐ͕͟ƐŝŶĐĞƚŚĞǇĚŽŶŽƚƌĞƉƌĞƐĞŶƚŶĞƚĐƵƌƌĞŶƚĂƐƐĞƚƐ͘ ZĞĐŽŐŶŝƚŝŽŶŽĨŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƚǇƉĞƌĞǀĞŶƵĞƐƌĞƉƌĞƐĞŶƚĞĚďǇŶŽŶĐƵƌƌĞŶƚƌĞĐĞŝǀĂďůĞƐĂƌĞĚĞĨĞƌƌĞĚƵŶƚŝůƚŚĞǇ ďĞĐŽŵĞĐƵƌƌĞŶƚƌĞĐĞŝǀĂďůĞƐ͘EŽŶĐƵƌƌĞŶƚƉŽƌƚŝŽŶƐŽĨŽƚŚĞƌůŽŶŐͲƚĞƌŵƌĞĐĞŝǀĂďůĞƐĂƌĞŽĨĨƐĞƚďǇĨƵŶĚďĂůĂŶĐĞ ƌĞƐĞƌǀĞĂĐĐŽƵŶƚƐ͘
ĞĐĂƵƐĞŽĨƚŚĞŝƌƐƉĞŶĚŝŶŐŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐ͕ĞǆƉĞŶĚŝƚƵƌĞƌĞĐŽŐŶŝƚŝŽŶĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƚǇƉĞƐĞǆĐůƵĚĞƐ ĂŵŽƵŶƚƐƌĞƉƌĞƐĞŶƚĞĚďǇŶŽŶĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ͘^ŝŶĐĞƚŚĞǇĚŽŶŽƚĂĨĨĞĐƚŶĞƚĐƵƌƌĞŶƚĂƐƐĞƚƐ͕ƐƵĐŚůŽŶŐͲƚĞƌŵ ĂŵŽƵŶƚƐĂƌĞŶŽƚƌĞĐŽŐŶŝǌĞĚĂƐŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƚǇƉĞĞǆƉĞŶĚŝƚƵƌĞƐŽƌĨƵŶĚůŝĂďŝůŝƚŝĞƐ͘ ŵŽƵŶƚƐĞǆƉĞŶĚĞĚƚŽĂĐƋƵŝƌĞĐĂƉŝƚĂůĂƐƐĞƚƐĂƌĞƌĞĐŽƌĚĞĚĂƐĞǆƉĞŶĚŝƚƵƌĞƐŝŶƚŚĞǇĞĂƌƚŚĂƚƌĞƐŽƵƌĐĞƐǁĞƌĞ ĞǆƉĞŶĚĞĚ͕ƌĂƚŚĞƌƚŚĂŶĂƐĨƵŶĚĂƐƐĞƚƐ͘dŚĞƉƌŽĐĞĞĚƐŽĨůŽŶŐͲƚĞƌŵĚĞďƚĂƌĞƌĞĐŽƌĚĞĚĂƐŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ ƌĂƚŚĞƌƚŚĂŶĂƐĂĨƵŶĚůŝĂďŝůŝƚǇ͘ŵŽƵŶƚƐƉĂŝĚƚŽƌĞĚƵĐĞůŽŶŐͲƚĞƌŵŝŶĚĞďƚĞĚŶĞƐƐĂƌĞƌĞƉŽƌƚĞĚĂƐĨƵŶĚ ĞǆƉĞŶĚŝƚƵƌĞƐ͘
WƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ
dŚĞŝƚǇ͛ƐĞŶƚĞƌƉƌŝƐĞĂŶĚŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͘/ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ ƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĂƌĞƉƌĞƐĞŶƚĞĚƵƐŝŶŐƚŚĞĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐ͘ZĞǀĞŶƵĞƐĂƌĞƌĞĐŽŐŶŝǌĞĚǁŚĞŶƚŚĞǇĂƌĞ ĞĂƌŶĞĚĂŶĚĞǆƉĞŶƐĞƐĂƌĞƌĞĐŽŐŶŝǌĞĚǁŚĞŶƚŚĞƌĞůĂƚĞĚŐŽŽĚƐŽƌƐĞƌǀŝĐĞƐĂƌĞĚĞůŝǀĞƌĞĚ͘/ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͕ƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĂƌĞƉƌĞƐĞŶƚĞĚƵƐŝŶŐƚŚĞĞĐŽŶŽŵŝĐƌĞƐŽƵƌĐĞƐŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐ͘dŚŝƐŵĞĂŶƐƚŚĂƚ ĂůůĂƐƐĞƚƐ͕ĂůůĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ĂůůůŝĂďŝůŝƚŝĞƐ͕ĂŶĚĂůůĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ;ǁŚĞƚŚĞƌĐƵƌƌĞŶƚ ŽƌŶŽŶĐƵƌƌĞŶƚͿĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞŝƌĂĐƚŝǀŝƚǇĂƌĞŝŶĐůƵĚĞĚŽŶƚŚĞŝƌďĂůĂŶĐĞƐŚĞĞƚƐ͘WƌŽƉƌŝĞƚĂƌǇĨƵŶĚƚǇƉĞ ŽƉĞƌĂƚŝŶŐƐƚĂƚĞŵĞŶƚƐƉƌĞƐĞŶƚŝŶĐƌĞĂƐĞƐ;ƌĞǀĞŶƵĞƐͿĂŶĚĚĞĐƌĞĂƐĞƐ;ĞǆƉĞŶƐĞƐͿŝŶƚŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ͘ ŵŽƵŶƚƐƉĂŝĚƚŽĂĐƋƵŝƌĞĐĂƉŝƚĂůĂƐƐĞƚƐĂƌĞĐĂƉŝƚĂůŝǌĞĚĂƐĂƐƐĞƚƐŝŶƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ ƌĂƚŚĞƌƚŚĂŶƌĞƉŽƌƚĞĚĂƐĞǆƉĞŶĚŝƚƵƌĞƐ͘WƌŽĐĞĞĚƐŽĨůŽŶŐͲƚĞƌŵĚĞďƚĂƌĞƌĞĐŽƌĚĞĚĂƐĂůŝĂďŝůŝƚǇŝŶƚŚĞƉƌŽƉƌŝĞƚĂƌǇ ĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ƌĂƚŚĞƌƚŚĂŶĂƐĂŶŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞ͘ŵŽƵŶƚƐƉĂŝĚƚŽƌĞĚƵĐĞůŽŶŐͲƚĞƌŵ ŝŶĚĞďƚĞĚŶĞƐƐŽĨƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĂƌĞƌĞƉŽƌƚĞĚĂƐĂƌĞĚƵĐƚŝŽŶŽĨƚŚĞƌĞůĂƚĞĚůŝĂďŝůŝƚǇ͕ƌĂƚŚĞƌƚŚĂŶĂƐ ĞǆƉĞŶĚŝƚƵƌĞƐ͘
388 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϲ
WƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĚŝƐƚŝŶŐƵŝƐŚŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶƐĞƐĨƌŽŵŶŽŶŽƉĞƌĂƚŝŶŐŝƚĞŵƐ͘KƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐ ĂŶĚĞǆƉĞŶƐĞƐŐĞŶĞƌĂůůǇƌĞƐƵůƚĨƌŽŵƉƌŽǀŝĚŝŶŐƐĞƌǀŝĐĞƐĂŶĚƉƌŽĚƵĐŝŶŐĂŶĚĚĞůŝǀĞƌŝŶŐŐŽŽĚƐŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚĂ ƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚΖƐƉƌŝŶĐŝƉĂůŽŶŐŽŝŶŐŽƉĞƌĂƚŝŽŶƐ͘dŚĞƉƌŝŶĐŝƉĂůŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐŽĨƚŚĞ ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐĂƌĞ
ĐŚĂƌŐĞƐƚŽĐƵƐƚŽŵĞƌƐĨŽƌƐĂůĞƐĂŶĚƐĞƌǀŝĐĞƐ͘
KƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐĨŽƌ
ŶƚĞƌƉƌŝƐĞ&ƵŶĚƐŝŶĐůƵĚĞƚŚĞĐŽƐƚŽĨƐĂůĞƐĂŶĚƐĞƌǀŝĐĞƐ͕ĂĚŵŝŶŝƐƚƌĂƚŝǀĞĞǆƉĞŶƐĞƐĂŶĚ ĚĞƉƌĞĐŝĂƚŝŽŶŽŶĐĂƉŝƚĂůĂƐƐĞƚƐ͘ůůƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶƐĞƐŶŽƚŵĞĞƚŝŶŐƚŚŝƐĚĞĨŝŶŝƚŝŽŶĂƌĞƌĞƉŽƌƚĞĚĂƐ ŶŽŶŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶƐĞƐ͘
&ŝĚƵĐŝĂƌǇ&ƵŶĚƐ
dŚĞƉĞŶƐŝŽŶĂŶĚƉƌŝǀĂƚĞͲƉƵƌƉŽƐĞƚƌƵƐƚĨƵŶĚƐĂƌĞƌĞƉŽƌƚĞĚƵƐŝŶŐƚŚĞĞĐŽŶŽŵŝĐƌĞƐŽƵƌĐĞƐŵĞĂƐƵƌĞŵĞŶƚĨŽĐƵƐĂŶĚ ƚŚĞĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐ͘
DĂũŽƌ&ƵŶĚƐ͕/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐĂŶĚ&ŝĚƵĐŝĂƌǇ&ƵŶĚdǇƉĞƐ dŚĞŝƚǇ͛ƐŵĂũŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂƌĞĂƐĨŽůůŽǁƐ͗
'ĞŶĞƌĂů&ƵŶĚʹdŚŝƐĨƵŶĚŝƐƚŚĞƉƌŝŵĂƌǇĨƵŶĚŽĨƚŚĞŝƚǇĂŶĚŝƐƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌĂůůƌĞǀĞŶƵĞĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐ ŽĨƚŚĞŝƚǇŶŽƚůĞŐĂůůǇƌĞƐƚƌŝĐƚĞĚĂƐƚŽƵƐĞ͘ďƌŽĂĚƌĂŶŐĞŽĨŵƵŶŝĐŝƉĂůĂĐƚŝǀŝƚŝĞƐĂƌĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚƚŚŝƐĨƵŶĚ ŝŶĐůƵĚŝŶŐŝƚǇDĂŶĂŐĞƌ͕ŝƚǇƚƚŽƌŶĞǇ͕&ŝŶĂŶĐĞ͕ŝƚǇůĞƌŬ͕ŽŵŵƵŶŝƚǇĞǀĞůŽƉŵĞŶƚ͕WŽůŝĐĞ^ĞƌǀŝĐĞƐ͕WƵďůŝĐ tŽƌŬƐ͕ĂŶĚŽŵŵƵŶŝƚǇ^ĞƌǀŝĐĞƐ͘
,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞĐŽŵďŝŶĞĚŚŽƵƐŝŶŐĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇŝŶWƌŽũĞĐƚ ƌĞĂƐϭĂŶĚϮǁŚŝĐŚƉƌŽŵŽƚĞƐĂŶĚƉƌŽǀŝĚĞƐĨŽƌƋƵĂůŝƚǇŚŽƵƐŝŶŐ͘ZĞǀĞŶƵĞƐǁŝůůďĞƉƌŽǀŝĚĞĚĨƌŽŵƚŚĞƌĞĐĞŝƉƚƐĂŶĚ ĐŽůůĞĐƚŝŽŶƐŽĨƌĞŶƚƐ͕ŶŽƚĞƐĂŶĚůŽĂŶƐ͘ůůŵŽŶŝĞƐŝŶƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇŵƵƐƚďĞƵƐĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞ ĂƉƉůŝĐĂďůĞŚŽƵƐŝŶŐͲƌĞůĂƚĞĚƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĂůŝĨŽƌŶŝĂ,ŽƵƐŝŶŐƵƚŚŽƌŝƚŝĞƐ>Ăǁ͘ ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚʹdŚŝƐĐĂƉŝƚĂůƉƌŽũĞĐƚƐĨƵŶĚŝƐƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞƉůĂŶŶŝŶŐ͕ĚĞƐŝŐŶĂŶĚ ĐŽŶƐƚƌƵĐƚŝŽŶŽĨǀĂƌŝŽƵƐĐĂƉŝƚĂůƉƌŽũĞĐƚƐƚŚƌŽƵŐŚŽƵƚƚŚĞŝƚǇ͘ dŚĞŝƚǇ͛ƐŵĂũŽƌƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚŝƐĂƐĨŽůůŽǁƐ͗
'ŽůĨŽƵƌƐĞʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞ^ŝůǀĞƌZŽĐŬ'ŽůĨZĞƐŽƌƚ͘ KƚŚĞƌĨƵŶĚƚǇƉĞƐŽĨƚŚĞŝƚǇĂƌĞĂƐĨŽůůŽǁƐ͗
^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐʹdŚĞƐĞĨƵŶĚƐĂĐĐŽƵŶƚĨŽƌƚŚĞƉƌŽĐĞĞĚƐŽĨƐƉĞĐŝĨŝĐƌĞǀĞŶƵĞƐŽƵƌĐĞƐƚŚĂƚĂƌĞƌĞƐƚƌŝĐƚĞĚŽƌ ĐŽŵŵŝƚƚĞĚƚŽĞǆƉĞŶĚŝƚƵƌĞƐĨŽƌƐƉĞĐŝĨŝĞĚƉƵƌƉŽƐĞƐŽƚŚĞƌƚŚĂŶĚĞďƚƐĞƌǀŝĐĞŽƌĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͘ ĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐʹdŚĞƐĞĨƵŶĚƐĂĐĐŽƵŶƚĨŽƌĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐƚŚĂƚĂƌĞƌĞƐƚƌŝĐƚĞĚ͕ĐŽŵŵŝƚƚĞĚ͕ŽƌĂƐƐŝŐŶĞĚ ƚŽĞǆƉĞŶĚŝƚƵƌĞƐĨŽƌĐĂƉŝƚĂůŽƵƚůĂǇ͘
Ğďƚ^ĞƌǀŝĐĞ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞƐĞƌǀŝĐŝŶŐŽĨůŽŶŐͲƚĞƌŵĚĞďƚ͘ 389 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϳ
/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ͗

ƋƵŝƉŵĞŶƚZĞƉůĂĐĞŵĞŶƚ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌĞƋƵŝƉŵĞŶƚĂŶĚǀĞŚŝĐůĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƌĞƉůĂĐĞŵĞŶƚ ƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚƚŽŽƚŚĞƌĚĞƉĂƌƚŵĞŶƚƐŽŶĂĐŽƐƚͲƌĞŝŵďƵƌƐĞŵĞŶƚďĂƐŝƐ͘ /ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐǇ&ƵŶĚʹdŚŝƐĨƵŶĚŝƐƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞĂĐƋƵŝƐŝƚŝŽŶĨŽƌĐŽŵƉƵƚĞƌĞƋƵŝƉŵĞŶƚ͕ ŵĂŝŶƚĞŶĂŶĐĞ͕ĂŶĚƐĞƌǀŝĐĞƐƚŽƐƵƉƉŽƌƚŝŶĨŽƌŵĂƚŝŽŶƐǇƐƚĞŵƐǁŝƚŚŝŶƚŚĞŝƚǇ͘ŽƐƚƐĂƌĞƌĞŝŵďƵƌƐĞĚďǇƚŚĞ ďĞŶĞĨŝƚŝŶŐĚĞƉĂƌƚŵĞŶƚƐ͘
WĂƌŬ
ƋƵŝƉŵĞŶƚĂŶĚ&ĂĐŝůŝƚŝĞƐ&ƵŶĚʹdŚŝƐĨƵŶĚŝƐƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞƉƵƌĐŚĂƐĞĂŶĚƌĞƉůĂĐĞŵĞŶƚŽĨŝƚǇ ŽǁŶĞĚĂŶĚŽƉĞƌĂƚĞĚƉĂƌŬĞƋƵŝƉŵĞŶƚĂŶĚĨĂĐŝůŝƚŝĞƐ͘ŽƐƚƐĂƌĞƌĞŝŵďƵƌƐĞĚďǇƚŚĞďĞŶĞĨŝƚŝŶŐĚĞƉĂƌƚŵĞŶƚƐ͘ /ŶƐƵƌĂŶĐĞ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌŝƚǇͲǁŝĚĞŝŶƐƵƌĂŶĐĞƐ͗ůŝĂďŝůŝƚǇ͕ƉƌŽƉĞƌƚǇ͕ĞĂƌƚŚƋƵĂŬĞ͕ǁŽƌŬĞƌƐ ĐŽŵƉĞŶƐĂƚŝŽŶĂŶĚƌŝƐŬŵĂŶĂŐĞŵĞŶƚ͘
ǆƉĞŶƐĞƐĂƌĞƐŚĂƌĞĚĂŵŽŶŐĚĞƉĂƌƚŵĞŶƚƐŽŶĂŶĂůůŽĐĂƚŝŽŶďĂƐŝƐ͘ &ŝĚƵĐŝĂƌǇ&ƵŶĚƐ͗
WĞŶƐŝŽŶdƌƵƐƚ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞĂĐƚŝǀŝƚŝĞƐŽĨƚŚĞ^ƵƉƉůĞŵĞŶƚĂůWĞŶƐŝŽŶ^ĂǀŝŶŐƐWůĂŶ͕ǁŚŝĐŚ ĂĐĐƵŵƵůĂƚĞƐƌĞƐŽƵƌĐĞƐĨŽƌƉĞŶƐŝŽŶďĞŶĞĨŝƚƉĂǇŵĞŶƚƐƚŽƋƵĂůŝĨŝĞĚŐŽǀĞƌŶŵĞŶƚĞŵƉůŽǇĞĞƐ͘ WƌŝǀĂƚĞͲWƵƌƉŽƐĞdƌƵƐƚ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐŽĨƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇƚŽƚŚĞ &ŽƌŵĞƌZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇĂŶĚŝƚƐĂůůŽĐĂƚĞĚƌĞǀĞŶƵĞƚŽƉĂǇĞƐƚŝŵĂƚĞĚŝŶƐƚĂůůŵĞŶƚƉĂǇŵĞŶƚƐŽĨĞŶĨŽƌĐĞĂďůĞ ŽďůŝŐĂƚŝŽŶƐƵŶƚŝůŽďůŝŐĂƚŝŽŶƐŽĨƚŚĞ&ŽƌŵĞƌŐĞŶĐǇĂƌĞƉĂŝĚŝŶĨƵůůĂŶĚĂƐƐĞƚƐŚĂǀĞďĞĞŶůŝƋƵŝĚĂƚĞĚ͘ ƐƐĞƚƐ͕ĞĨĞƌƌĞĚKƵƚĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ͕>ŝĂďŝůŝƚŝĞƐ͕ĞĨĞƌƌĞĚ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ͕ĂŶĚEĞƚWŽƐŝƚŝŽŶŽƌ ƋƵŝƚǇ
ĂƐŚĂŶĚ/ŶǀĞƐƚŵĞŶƚƐ
&ŽƌĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐƉƵƌƉŽƐĞƐ͕ŝŶǀĞƐƚŵĞŶƚƐĂƌĞĂĚũƵƐƚĞĚƚŽƚŚĞŝƌĨĂŝƌǀĂůƵĞ͘ŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞƚŚĂƚŽĐĐƵƌ ĚƵƌŝŶŐĂĨŝƐĐĂůǇĞĂƌĂƌĞƌĞĐŽŐŶŝǌĞĚĂƐŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞƌĞƉŽƌƚĞĚĨŽƌƚŚĂƚĨŝƐĐĂůǇĞĂƌ͘/ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ŝŶĐůƵĚĞƐŝŶƚĞƌĞƐƚĞĂƌŶŝŶŐƐ͕ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞ͕ĂŶĚĂŶǇŐĂŝŶƐŽƌůŽƐƐĞƐƌĞĂůŝǌĞĚƵƉŽŶƚŚĞůŝƋƵŝĚĂƚŝŽŶŽƌƐĂůĞŽĨ ŝŶǀĞƐƚŵĞŶƚƐ͘
dŚĞŝƚǇƉŽŽůƐĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐŽĨĂůůĨƵŶĚƐ͕ĞǆĐĞƉƚĨŽƌĂƐƐĞƚƐŚĞůĚǁŝƚŚŝŶƚŚĞ^ĞĐƚŝŽŶϭϭϱƚƌƵƐƚĂŶĚĂŵŽƵŶƚƐ ŚĞůĚďǇĨŝƐĐĂůĂŐĞŶƚƐ͘
ĂĐŚĨƵŶĚ͛ƐƐŚĂƌĞŝŶƚŚŝƐƉŽŽůŝƐĚŝƐƉůĂǇĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĐĂƐŚ ĂŶĚŝŶǀĞƐƚŵĞŶƚƐ͘/ŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞĞĂƌŶĞĚďǇƚŚĞƉŽŽůĞĚŝŶǀĞƐƚŵĞŶƚƐŝƐĂůůŽĐĂƚĞĚƚŽƚŚĞǀĂƌŝŽƵƐĨƵŶĚƐďĂƐĞĚ ŽŶĞĂĐŚĨƵŶĚ͛ƐŵŽŶƚŚĞŶĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚďĂůĂŶĐĞ͘
ĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐ
&ŽƌƉƵƌƉŽƐĞƐŽĨƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐ͕ĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƌĞĚĞĨŝŶĞĚĂƐƐŚŽƌƚͲƚĞƌŵ͕ŚŝŐŚůǇůŝƋƵŝĚ ŝŶǀĞƐƚŵĞŶƚƐƚŚĂƚĂƌĞďŽƚŚƌĞĂĚŝůǇĐŽŶǀĞƌƚŝďůĞƚŽŬŶŽǁŶĂŵŽƵŶƚƐŽĨĐĂƐŚŽƌƐŽŶĞĂƌƚŚĞŝƌŵĂƚƵƌŝƚǇƚŚĂƚƚŚĞǇ ƉƌĞƐĞŶƚŝŶƐŝŐŶŝĨŝĐĂŶƚƌŝƐŬŽĨĐŚĂŶŐĞƐŝŶǀĂůƵĞďĞĐĂƵƐĞŽĨĐŚĂŶŐĞƐŝŶŝŶƚĞƌĞƐƚƌĂƚĞƐ͘ĂƐŚĞƋƵŝǀĂůĞŶƚƐĂůƐŽ ƌĞƉƌĞƐĞŶƚƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚ͛ƐƐŚĂƌĞŝŶƚŚĞŝƚǇ͛ƐĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƉŽŽů͘ĂƐŚĞƋƵŝǀĂůĞŶƚƐŚĂǀĞĂŶŽƌŝŐŝŶĂů ŵĂƚƵƌŝƚǇĚĂƚĞŽĨƚŚƌĞĞŵŽŶƚŚƐŽƌůĞƐƐĨƌŽŵƚŚĞĚĂƚĞŽĨƉƵƌĐŚĂƐĞ͘&ŽƌƉƵƌƉŽƐĞƐŽĨƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐ͕ ƚŚĞĞŶƚŝƌĞďĂůĂŶĐĞŽĨĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐŽŶƚŚĞĐŽŵďŝŶĞĚďĂůĂŶĐĞƐŚĞĞƚĨŽƌƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐŝƐ ĐŽŶƐŝĚĞƌĞĚĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ͘
390 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϴ
ZĞƐƚƌŝĐƚĞĚ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚĂƐŚĂŶĚ/ŶǀĞƐƚŵĞŶƚƐ
ůůĂƐƐĞƚƐŝŶƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚĂƌĞŝƌƌĞǀŽĐĂďůǇĚĞĚŝĐĂƚĞĚƚŽĨƵŶĚŝŶŐŽďůŝŐĂƚŝŽŶƐŽĨƚŚĞŝƚǇ͛ƐƉĞŶƐŝŽŶ ďĞŶĞĨŝĐŝĂƌŝĞƐ͕ŽƚŚĞƌƉŽƐƚͲĞŵƉůŽǇŵĞŶƚďĞŶĞĨŝĐŝĂƌŝĞƐŽƌĐŽƐƚƐŽĨĂĚŵŝŶŝƐƚĞƌŝŶŐƚŚĞdƌƵƐƚ͘dŚĞĨƵŶĚƐĂƌĞŶŽƚ ĐŽŶƐŝĚĞƌĞĚƉůĂŶĂƐƐĞƚƐŽĨĞŝƚŚĞƌƚŚĞƉĞŶƐŝŽŶƉůĂŶŽƌKW ƉůĂŶĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞĐŽŶƐŝĚĞƌĞĚƌĞƐƚƌŝĐƚĞĚĂƐƐĞƚƐŽĨ ƚŚĞŝƚǇ͘
/ŶǀĞŶƚŽƌǇ
/ŶǀĞŶƚŽƌǇŝƐǀĂůƵĞĚĂƚĐŽƐƚƵƐŝŶŐƚŚĞĨŝƌƐƚŝŶͬĨŝƌƐƚŽƵƚ;&/&KͿŵĞƚŚŽĚ͘dŚĞŝƚǇƵƐĞƐƚŚĞĐŽŶƐƵŵƉƚŝŽŶŵĞƚŚŽĚŽĨ ĂĐĐŽƵŶƚŝŶŐĨŽƌŝŶǀĞŶƚŽƌŝĞƐ͘
WƌĞƉĂŝĚŽƐƚƐ
ĞƌƚĂŝŶƉĂǇŵĞŶƚƐƚŽǀĞŶĚŽƌƐƌĞĨůĞĐƚĐŽƐƚƐĂƉƉůŝĐĂďůĞƚŽĨƵƚƵƌĞĂĐĐŽƵŶƚŝŶŐƉĞƌŝŽĚƐĂŶĚĂƌĞƌĞĐŽƌĚĞĚĂƐƉƌĞƉĂŝĚ ŝƚĞŵƐŝŶďŽƚŚŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĂŶĚĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞŝƚǇƵƚŝůŝǌĞƐƚŚĞĐŽŶƐƵŵƉƚŝŽŶŵĞƚŚŽĚ͕ŝŶ ǁŚŝĐŚƉƌĞƉĂŝĚŝƚĞŵƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌŝŶƚŚĞƉĞƌŝŽĚƚŚĂƚƚŚĞďĞŶĞĨŝƚǁĂƐƌĞĐĞŝǀĞĚ͘ ĂƉŝƚĂůƐƐĞƚƐ
ĂƉŝƚĂůĂƐƐĞƚƐ;ŝŶĐůƵĚŝŶŐŝŶĨƌĂƐƚƌƵĐƚƵƌĞͿĂƌĞƌĞĐŽƌĚĞĚĂƚĐŽƐƚǁŚĞƌĞŚŝƐƚŽƌŝĐĂůƌĞĐŽƌĚƐĂƌĞĂǀĂŝůĂďůĞĂŶĚĂƚĂŶ ĞƐƚŝŵĂƚĞĚŚŝƐƚŽƌŝĐĂůĐŽƐƚǁŚĞƌĞŶŽŚŝƐƚŽƌŝĐĂůƌĞĐŽƌĚƐĞǆŝƐƚ͘ŽŶƚƌŝďƵƚĞĚĐĂƉŝƚĂůĂƐƐĞƚƐĂƌĞǀĂůƵĞĚĂƚƚŚĞŝƌ ĂĐƋƵŝƐŝƚŝŽŶǀĂůƵĞĂƚƚŚĞĚĂƚĞŽĨƚŚĞĐŽŶƚƌŝďƵƚŝŽŶ͘'ĞŶĞƌĂůůǇ͕ĐĂƉŝƚĂůĂƐƐĞƚƉƵƌĐŚĂƐĞƐŝŶĞǆĐĞƐƐŽĨΨϱ͕ϬϬϬĂƌĞ ĐĂƉŝƚĂůŝǌĞĚŝĨƚŚĞǇŚĂǀĞĂŶĞǆƉĞĐƚĞĚƵƐĞĨƵůůŝĨĞŽĨƚŚƌĞĞǇĞĂƌƐŽƌŵŽƌĞ͘ ĂƉŝƚĂůƐƐĞƚƐŝŶĐůƵĚĞƉƵďůŝĐĚŽŵĂŝŶ;ŝŶĨƌĂƐƚƌƵĐƚƵƌĞͿĐŽŶƐŝƐƚŝŶŐŽĨĐĞƌƚĂŝŶŝŵƉƌŽǀĞŵĞŶƚƐŝŶĐůƵĚŝŶŐƌŽĂĚƐ͕ƐƚƌĞĞƚƐ͕ ƐŝĚĞǁĂůŬƐ͕ŵĞĚŝĂŶƐ͕ĂŶĚƐƚŽƌŵĚƌĂŝŶƐ͘
ĂƉŝƚĂůĂƐƐĞƚƐƵƐĞĚŝŶŽƉĞƌĂƚŝŽŶƐĂƌĞĚĞƉƌĞĐŝĂƚĞĚŽǀĞƌƚŚĞŝƌĞƐƚŝŵĂƚĞĚƵƐĞĨƵůůŝǀĞƐƵƐŝŶŐƚŚĞƐƚƌĂŝŐŚƚͲůŝŶĞŵĞƚŚŽĚ ŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚŝŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͘ ĞƉƌĞĐŝĂƚŝŽŶŝƐĐŚĂƌŐĞĚĂƐĂŶĞǆƉĞŶƐĞĂŐĂŝŶƐƚŽƉĞƌĂƚŝŽŶƐĂŶĚĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶŝƐƌĞƉŽƌƚĞĚŽŶƚŚĞ ƌĞƐƉĞĐƚŝǀĞďĂůĂŶĐĞƐŚĞĞƚ͘
dŚĞĨŽůůŽǁŝŶŐƐĐŚĞĚƵůĞƐƵŵŵĂƌŝǌĞƐĐĂƉŝƚĂůĂƐƐĞƚƵƐĞĨƵůůŝǀĞƐ͗ ƵŝůĚŝŶŐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ ϭϬͲϯϬǇĞĂƌƐ

ƋƵŝƉŵĞŶƚĂŶĚĨƵƌŶŝƚƵƌĞ ϯͲϮϬǇĞĂƌƐ
sĞŚŝĐůĞƐ ϱͲϭϬǇĞĂƌƐ
/ŶĨƌĂƐƚƌƵĐƚƵƌĞ ϭϬͲϱϬǇĞĂƌƐ
^ŽĨƚǁĂƌĞ ϱͲϭϬǇĞĂƌƐ

391 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϯϵ
WƌŽƉĞƌƚǇdĂǆĞƐ
hŶĚĞƌĂůŝĨŽƌŶŝĂůĂǁ͕ƉƌŽƉĞƌƚǇƚĂǆĞƐĂƌĞĂƐƐĞƐƐĞĚĂŶĚĐŽůůĞĐƚĞĚďǇƚŚĞĐŽƵŶƚŝĞƐƵƉƚŽϭƉĞƌĐĞŶƚŽĨĂƐƐĞƐƐĞĚ ǀĂůƵĞ͕ƉůƵƐŽƚŚĞƌŝŶĐƌĞĂƐĞƐĂƉƉƌŽǀĞĚďǇƚŚĞǀŽƚĞƌƐ͘dŚĞƉƌŽƉĞƌƚǇƚĂǆĞƐĂƌĞƌĞĐŽƌĚĞĚŝŶŝƚŝĂůůǇŝŶĂƉŽŽů͕ĂŶĚĂƌĞ ƚŚĞŶĂůůŽĐĂƚĞĚƚŽƚŚĞĐŝƚŝĞƐďĂƐĞĚŽŶĐŽŵƉůĞǆĨŽƌŵƵůĂƐ͘ĐĐŽƌĚŝŶŐůǇ͕ƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂĂĐĐƌƵĞƐŽŶůǇƚŚŽƐĞ ƚĂǆĞƐƚŚĂƚĂƌĞƌĞĐĞŝǀĞĚĨƌŽŵƚŚĞŽƵŶƚǇǁŝƚŚŝŶƐŝǆƚǇĚĂǇƐĂĨƚĞƌǇĞĂƌͲĞŶĚ͘ >ŝĞŶĚĂƚĞ :ĂŶƵĂƌǇϭ
>ĞǀǇĚĂƚĞ :ƵůǇϭ
ƵĞĚĂƚĞƐ EŽǀĞŵďĞƌϭĂŶĚ&ĞďƌƵĂƌǇϭ
ŽůůĞĐƚŝŽŶĚĂƚĞƐ ĞĐĞŵďĞƌϭϬĂŶĚƉƌŝůϭϬ
ĞĨĞƌƌĞĚKƵƚĨůŽǁƐͬ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
/ŶĂĚĚŝƚŝŽŶƚŽĂƐƐĞƚƐ͕ƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨŶĞƚƉŽƐŝƚŝŽŶĂŶĚƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚďĂůĂŶĐĞƐŚĞĞƚǁŝůůƐŽŵĞƚŝŵĞƐ ƌĞƉŽƌƚĂƐĞƉĂƌĂƚĞƐĞĐƚŝŽŶĨŽƌĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͘dŚŝƐƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚĞůĞŵĞŶƚ͕ ĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ƌĞƉƌĞƐĞŶƚƐĂĐŽŶƐƵŵƉƚŝŽŶŽĨŶĞƚƉŽƐŝƚŝŽŶƚŚĂƚĂƉƉůŝĞƐƚŽĂĨƵƚƵƌĞƉĞƌŝŽĚ;ƐͿĂŶĚ ƐŽǁŝůůŶŽƚďĞƌĞĐŽŐŶŝǌĞĚĂƐĂŶŽƵƚĨůŽǁŽĨƌĞƐŽƵƌĐĞƐ;ĞǆƉĞŶƐĞͬĞǆƉĞŶĚŝƚƵƌĞͿƵŶƚŝůƚŚĞŶ͘'ŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ ƌĞĐŽƌĚĞĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐĂŶĚŽƚŚĞƌƉŽƐƚͲĞŵƉůŽǇŵĞŶƚďĞŶĞĨŝƚƐ͘^ĞĞEŽƚĞƐϴ ĂŶĚϵĨŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƉĞŶƐŝŽŶƐĂŶĚƉŽƐƚͲĞŵƉůŽǇŵĞŶƚďĞŶĞĨŝƚƐ͕ƌĞƐƉĞĐƚŝǀĞůǇ͘ dŚĞWƌŝǀĂƚĞWƵƌƉŽƐĞdƌƵƐƚ&ƵŶĚͲ^ƵĐĐĞƐƐŽƌŐĞŶĐǇŽĨƚŚĞĨŽƌŵĞƌZƌĞĐŽƌĚĞĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ ƌĞůĂƚĞĚƚŽĚĞďƚƌĞĨƵŶĚŝŶŐƐ͘^ĞĞEŽƚĞϭϳĨŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶŽŶƚŚĞĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽ ĚĞďƚƌĞĨƵŶĚŝŶŐƐ͘
/ŶĂĚĚŝƚŝŽŶƚŽůŝĂďŝůŝƚŝĞƐ͕ƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨŶĞƚƉŽƐŝƚŝŽŶĂŶĚŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚďĂůĂŶĐĞƐŚĞĞƚǁŝůůƐŽŵĞƚŝŵĞƐ ƌĞƉŽƌƚĂƐĞƉĂƌĂƚĞƐĞĐƚŝŽŶĨŽƌĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͘dŚŝƐƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚĞůĞŵĞŶƚ͕ĚĞĨĞƌƌĞĚ ŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ͕ƌĞƉƌĞƐĞŶƚƐĂŶĂĐƋƵŝƐŝƚŝŽŶŽĨŶĞƚƉŽƐŝƚŝŽŶƚŚĂƚĂƉƉůŝĞƐƚŽĂĨƵƚƵƌĞƉĞƌŝŽĚ;ƐͿĂŶĚƐŽǁŝůůŶŽƚ ďĞƌĞĐŽŐŶŝǌĞĚĂƐĂŶŝŶĨůŽǁŽĨƌĞƐŽƵƌĐĞƐ;ƌĞǀĞŶƵĞͿƵŶƚŝůƚŚĂƚƚŝŵĞ͘dŚĞŝƚǇŚĂƐƌĞƉŽƌƚĞĚŝƚĞŵƐŽŶƚŚĞ ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚďĂůĂŶĐĞƐŚĞĞƚĂƐƵŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐƚŚĂƚǁĞƌĞŶŽƚƌĞĐĞŝǀĞĚǁŝƚŚŝŶƚŚĞŝƚǇ͛ƐĂǀĂŝůĂďŝůŝƚǇ ƉĞƌŝŽĚ͘ĚĚŝƚŝŽŶĂůůǇ͕ŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐƌĞĐŽƌĚĞĚĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐĂŶĚ KW
͘^ĞĞEŽƚĞƐϴĂŶĚϵĨŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƉĞŶƐŝŽŶƐĂŶĚƉŽƐƚͲĞŵƉůŽǇŵĞŶƚ ďĞŶĞĨŝƚƐ͕ƌĞƐƉĞĐƚŝǀĞůǇ͘
ŽŵƉĞŶƐĂƚĞĚďƐĞŶĐĞƐ
sĂĐĂƚŝŽŶĂŶĚƐŝĐŬƚŝŵĞŝƐǀĞƐƚĞĚŽŶĂƉĞƌĐĞŶƚĂŐĞďĂƐĞĚŽŶŶƵŵďĞƌŽĨǇĞĂƌƐĞŵƉůŽǇĞĚĂƚƚŚĞŝƚǇ͘DĂǆŝŵƵŵ ĂĐĐƵŵƵůĂƚŝŽŶŽĨƐŝĐŬĂŶĚǀĂĐĂƚŝŽŶŝƐϰϬĂŶĚϲϬĚĂǇƐ͕ƌĞƐƉĞĐƚŝǀĞůǇ͘ hƉŽŶƚĞƌŵŝŶĂƚŝŽŶŽƌƌĞƚŝƌĞŵĞŶƚ͕ƉĞƌŵĂŶĞŶƚĞŵƉůŽǇĞĞƐĂƌĞĞŶƚŝƚůĞĚƚŽƌĞĐĞŝǀĞĐŽŵƉĞŶƐĂƚŝŽŶĂƚƚŚĞŝƌĐƵƌƌĞŶƚ ďĂƐĞƐĂůĂƌǇĨŽƌĂůůƵŶƵƐĞĚǀĂĐĂƚŝŽŶůĞĂǀĞ͘/ĨĂŶĞŵƉůŽǇĞĞƚĞƌŵŝŶĂƚĞƐǁŝƚŚĂŵŝŶŝŵƵŵŽĨƚǁŽǇĞĂƌƐ͛ƐĞƌǀŝĐĞ͕ƚŚĞ ĞŵƉůŽǇĞĞŝƐĞŶƚŝƚůĞĚƚŽƌĞĐĞŝǀĞϮϱƉĞƌĐĞŶƚŽĨƚŚĞǀĂůƵĞŽĨŚŝƐƵŶƵƐĞĚƐŝĐŬůĞĂǀĞ͘dŚĞƉĞƌĐĞŶƚĂŐĞŝŶĐƌĞĂƐĞƐďǇϮϱ ƉĞƌĐĞŶƚĨŽƌĞĂĐŚĨŝǀĞͲǇĞĂƌƉĞƌŝŽĚƵŶƚŝůƚŚĞĞŵƉůŽǇĞĞŝƐĞŶƚŝƚůĞĚƚŽϭϬϬƉĞƌĐĞŶƚŽĨƚŚĞǀĂůƵĞŽĨƚŚĞŝƌƵŶƵƐĞĚƐŝĐŬ ůĞĂǀĞ͘dŚŝƐǁŝůůŽĐĐƵƌƵƉŽŶƚŚĞĐŽŵƉůĞƚŝŽŶŽĨƚǁĞŶƚǇǇĞĂƌƐŽĨĐŽŶƚŝŶƵŽƵƐĞŵƉůŽǇŵĞŶƚ͘dŚĞ'ĞŶĞƌĂů&ƵŶĚ ƌĞƐŽƵƌĐĞƐĂƌĞƵƐĞĚƚŽƉĂǇĨŽƌƚŚĞĂĐĐƵŵƵůĂƚĞĚďĞŶĞĨŝƚƐƚŽĞŵƉůŽǇĞĞƐ͘ 392 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϬ
>ŽŶŐͲdĞƌŵKďůŝŐĂƚŝŽŶƐ
/ŶƚŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ůŽŶŐͲƚĞƌŵĚĞďƚĂŶĚ ŽƚŚĞƌůŽŶŐͲƚĞƌŵŽďůŝŐĂƚŝŽŶƐĂƌĞƌĞƉŽƌƚĞĚĂƐůŝĂďŝůŝƚŝĞƐŝŶƚŚĞĂƉƉůŝĐĂďůĞŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ͕ďƵƐŝŶĞƐƐͲƚǇƉĞ ĂĐƚŝǀŝƚŝĞƐŽƌƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƚǇƉĞƐƚĂƚĞŵĞŶƚŽĨŶĞƚƉŽƐŝƚŝŽŶ͘ŽŶĚƉƌĞŵŝƵŵƐĂŶĚĚŝƐĐŽƵŶƚƐĂƌĞĚĞĨĞƌƌĞĚĂŶĚ ĂŵŽƌƚŝǌĞĚŽǀĞƌƚŚĞůŝĨĞŽĨƚŚĞďŽŶĚƐƵƐŝŶŐƚŚĞĞĨĨĞĐƚŝǀĞŝŶƚĞƌĞƐƚŵĞƚŚŽĚ͘ŽŶĚƐƉĂǇĂďůĞĂƌĞƌĞƉŽƌƚĞĚŶĞƚŽĨƚŚĞ ĂƉƉůŝĐĂďůĞďŽŶĚƉƌĞŵŝƵŵŽƌĚŝƐĐŽƵŶƚ͘
/ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƚǇƉĞƐƌĞĐŽŐŶŝǌĞďŽŶĚƉƌĞŵŝƵŵƐĂŶĚĚŝƐĐŽƵŶƚƐ͕ĂƐǁĞůůĂƐ ďŽŶĚŝƐƐƵĂŶĐĞĐŽƐƚƐ͕ĚƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚƉĞƌŝŽĚ͘dŚĞĨĂĐĞĂŵŽƵŶƚŽĨĚĞďƚŝƐƐƵĞĚŝƐƌĞƉŽƌƚĞĚĂƐŽƚŚĞƌĨŝŶĂŶĐŝŶŐ ƐŽƵƌĐĞƐ͘WƌĞŵŝƵŵƐƌĞĐĞŝǀĞĚŽŶĚĞďƚŝƐƐƵĂŶĐĞƐĂƌĞƌĞƉŽƌƚĞĚĂƐŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐǁŚŝůĞĚŝƐĐŽƵŶƚƐŽŶĚĞďƚ ŝƐƐƵĂŶĐĞƐĂƌĞƌĞƉŽƌƚĞĚĂƐŽƚŚĞƌĨŝŶĂŶĐŝŶŐƵƐĞƐ͘/ƐƐƵĂŶĐĞĐŽƐƚƐ͕ǁŚĞƚŚĞƌŽƌŶŽƚǁŝƚŚŚĞůĚĨƌŽŵƚŚĞĂĐƚƵĂůĚĞďƚ ƉƌŽĐĞĞĚƐƌĞĐĞŝǀĞĚ͕ĂƌĞƌĞƉŽƌƚĞĚĂƐĚĞďƚƐĞƌǀŝĐĞĞǆƉĞŶĚŝƚƵƌĞƐ͘ &ƵŶĚĂůĂŶĐĞ
/ŶƚŚĞĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐƌĞƉŽƌƚƚŚĞĨŽůůŽǁŝŶŐĨƵŶĚďĂůĂŶĐĞĐůĂƐƐŝĨŝĐĂƚŝŽŶƐ͗ EŽŶƐƉĞŶĚĂďůĞŝŶĐůƵĚĞƐĂŵŽƵŶƚƐƚŚĂƚĐĂŶŶŽƚďĞƐƉĞŶƚďĞĐĂƵƐĞƚŚĞǇĂƌĞĞŝƚŚĞƌ;ĂͿŶŽƚŝŶƐƉĞŶĚĂďůĞĨŽƌŵŽƌ ;ďͿůĞŐĂůůǇŽƌĐŽŶƚƌĂĐƚƵĂůůǇƌĞƋƵŝƌĞĚƚŽďĞŵĂŝŶƚĂŝŶĞĚŝŶƚĂĐƚ͘ ZĞƐƚƌŝĐƚĞĚŝŶĐůƵĚĞƐĂŵŽƵŶƚƐƚŚĂƚĂƌĞĐŽŶƐƚƌĂŝŶĞĚŽŶƚŚĞƵƐĞŽĨƌĞƐŽƵƌĐĞƐďǇĞŝƚŚĞƌ;ĂͿĞǆƚĞƌŶĂůĐƌĞĚŝƚŽƌƐ͕ ŐƌĂŶƚŽƌƐ͕ĐŽŶƚƌŝďƵƚŽƌƐ͕ŽƌůĂǁƐŽĨƌĞŐƵůĂƚŝŽŶƐŽĨŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐŽƌ;ďͿďǇůĂǁƚŚƌŽƵŐŚĐŽŶƐƚŝƚƵƚŝŽŶĂů ƉƌŽǀŝƐŝŽŶƐŽƌĞŶĂďůŝŶŐůĞŐŝƐůĂƚŝŽŶ͘
ŽŵŵŝƚƚĞĚŝŶĐůƵĚĞƐĂŵŽƵŶƚƐƚŚĂƚĐĂŶŽŶůǇďĞƵƐĞĚĨŽƌƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞƐƉƵƌƐƵĂŶƚƚŽĐŽŶƐƚƌĂŝŶƚƐŝŵƉŽƐĞĚďǇ ĨŽƌŵĂůĂĐƚŝŽŶŽĨƚŚĞŝƚǇ͛ƐŚŝŐŚĞƐƚĂƵƚŚŽƌŝƚǇ͕ƚŚĞŝƚǇŽƵŶĐŝů͘dŚĞĨŽƌŵĂůĂĐƚŝŽŶƚŚĂƚŝƐƌĞƋƵŝƌĞĚƚŽďĞƚĂŬĞŶƚŽ ĞƐƚĂďůŝƐŚ͕ŵŽĚŝĨǇ͕ŽƌƌĞƐĐŝŶĚĂĨƵŶĚďĂůĂŶĐĞĐŽŵŵŝƚŵĞŶƚŝƐďǇĂƌĞƐŽůƵƚŝŽŶ͘ ƐƐŝŐŶĞĚŝŶĐůƵĚĞƐĂŵŽƵŶƚƐƚŚĂƚĂƌĞĐŽŶƐƚƌĂŝŶĞĚďǇƚŚĞŝƚǇ͛ƐŝŶƚĞŶƚƚŽďĞƵƐĞĚĨŽƌƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞƐ͕ďƵƚĂƌĞ ŶĞŝƚŚĞƌƌĞƐƚƌŝĐƚĞĚŶŽƌĐŽŵŵŝƚƚĞĚ͘ŝƚǇŽƵŶĐŝůŝƐĂƵƚŚŽƌŝǌĞĚƚŽĂƐƐŝŐŶĂŵŽƵŶƚƐƚŽĂƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞ͘dŚĞŝƚǇ ŽƵŶĐŝůĂƵƚŚŽƌŝǌĞƐĂƐƐŝŐŶĞĚĂŵŽƵŶƚƐĨŽƌƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞƐƉƵƌƐƵĂŶƚƚŽƚŚĞƉŽůŝĐǇͲŵĂŬŝŶŐƉŽǁĞƌƐŐƌĂŶƚĞĚ ƚŚƌŽƵŐŚĂƌĞƐŽůƵƚŝŽŶ͘
hŶĂƐƐŝŐŶĞĚŝŶĐůƵĚĞƐƚŚĞƌĞƐŝĚƵĂůĂŵŽƵŶƚƐƚŚĂƚŚĂǀĞŶŽƚďĞĞŶƌĞƐƚƌŝĐƚĞĚ͕ĐŽŵŵŝƚƚĞĚ͕ŽƌĂƐƐŝŐŶĞĚƚŽƐƉĞĐŝĨŝĐ ƉƵƌƉŽƐĞƐ͘dŚĞŐĞŶĞƌĂůĨƵŶĚŝƐƚŚĞŽŶůǇĨƵŶĚƚŚĂƚƌĞƉŽƌƚƐĂƉŽƐŝƚŝǀĞƵŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞ͘ &ƵŶĚĂůĂŶĐĞ&ůŽǁƐƐƵŵƉƚŝŽŶƐʹŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ^ŽŵĞƚŝŵĞƐƚŚĞŝƚǇǁŝůůĨƵŶĚŽƵƚůĂǇƐĨŽƌĂƉĂƌƚŝĐƵůĂƌƉƵƌƉŽƐĞĨƌŽŵďŽƚŚƌĞƐƚƌŝĐƚĞĚĂŶĚƵŶƌĞƐƚƌŝĐƚĞĚƌĞƐŽƵƌĐĞƐ ;ƚŚĞƚŽƚĂůŽĨĐŽŵŵŝƚƚĞĚ͕ĂƐƐŝŐŶĞĚ͕ĂŶĚƵŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞͿ͘/ŶŽƌĚĞƌƚŽĐĂůĐƵůĂƚĞƚŚĞĂŵŽƵŶƚƐƚŽƌĞƉŽƌƚĂƐ ƌĞƐƚƌŝĐƚĞĚ͕ĐŽŵŵŝƚƚĞĚ͕ĂƐƐŝŐŶĞĚ͕ĂŶĚƵŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂ ĨůŽǁĂƐƐƵŵƉƚŝŽŶŵƵƐƚďĞŵĂĚĞĂďŽƵƚƚŚĞŽƌĚĞƌŝŶǁŚŝĐŚƚŚĞƌĞƐŽƵƌĐĞƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞĂƉƉůŝĞĚ͘ 393 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϭ
/ƚŝƐƚŚĞŝƚǇ͛ƐƉŽůŝĐǇƚŽĐŽŶƐŝĚĞƌƌĞƐƚƌŝĐƚĞĚĨƵŶĚďĂůĂŶĐĞƚŽŚĂǀĞďĞĞŶĚĞƉůĞƚĞĚďĞĨŽƌĞƵƐŝŶŐĂŶǇŽĨƚŚĞ ĐŽŵƉŽŶĞŶƚƐŽĨƵŶƌĞƐƚƌŝĐƚĞĚĨƵŶĚďĂůĂŶĐĞ͘&ƵƌƚŚĞƌ͕ǁŚĞŶƚŚĞĐŽŵƉŽŶĞŶƚƐŽĨƵŶƌĞƐƚƌŝĐƚĞĚĨƵŶĚďĂůĂŶĐĞĐĂŶďĞ ƵƐĞĚĨŽƌƚŚĞƐĂŵĞƉƵƌƉŽƐĞ͕ĐŽŵŵŝƚƚĞĚĨƵŶĚďĂůĂŶĐĞŝƐĚĞƉůĞƚĞĚĨŝƌƐƚ͕ĨŽůůŽǁĞĚďǇĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞ͘ hŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞŝƐĂƉƉůŝĞĚůĂƐƚ͘
EĞƚWŽƐŝƚŝŽŶ&ůŽǁƐƐƵŵƉƚŝŽŶʹŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĂŶĚƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ^ŽŵĞƚŝŵĞƐƚŚĞŝƚǇǁŝůůĨƵŶĚŽƵƚůĂǇƐĨŽƌĂƉĂƌƚŝĐƵůĂƌƉƵƌƉŽƐĞĨƌŽŵďŽƚŚƌĞƐƚƌŝĐƚĞĚ;Ğ͘Ő͕͘ƌĞƐƚƌŝĐƚĞĚďŽŶĚŽƌŐƌĂŶƚ ƉƌŽĐĞĞĚƐͿĂŶĚƵŶƌĞƐƚƌŝĐƚĞĚƌĞƐŽƵƌĐĞƐ͘/ŶŽƌĚĞƌƚŽĐĂůĐƵůĂƚĞƚŚĞĂŵŽƵŶƚƐƚŽƌĞƉŽƌƚĂƐƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶĂŶĚ ƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶŝŶƚŚĞŐŽǀĞƌŶŵĞŶƚͲǁŝĚĞĂŶĚƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ĂĨůŽǁĂƐƐƵŵƉƚŝŽŶ ŵƵƐƚďĞŵĂĚĞĂďŽƵƚƚŚĞŽƌĚĞƌŝŶǁŚŝĐŚƚŚĞƌĞƐŽƵƌĐĞƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞĂƉƉůŝĞĚ͘/ƚŝƐƚŚĞŝƚǇ͛ƐƉŽůŝĐǇƚŽ ĐŽŶƐŝĚĞƌƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶƚŽŚĂǀĞďĞĞŶĚĞƉůĞƚĞĚďĞĨŽƌĞƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶŝƐĂƉƉůŝĞĚ͘ hƐĞŽĨ
ƐƚŝŵĂƚĞƐ
dŚĞƉƌĞƉĂƌĂƚŝŽŶŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĐŽŶĨŽƌŵŝƚǇǁŝƚŚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚŝŶƚŚĞ hŶŝƚĞĚ^ƚĂƚĞƐŽĨŵĞƌŝĐĂƌĞƋƵŝƌĞƐŵĂŶĂŐĞŵĞŶƚƚŽŵĂŬĞĞƐƚŝŵĂƚĞƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐƚŚĂƚĂĨĨĞĐƚƚŚĞƌĞƉŽƌƚĞĚ ĂŵŽƵŶƚƐŽĨĂƐƐĞƚƐ͕ůŝĂďŝůŝƚŝĞƐ͕ĂŶĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐͬŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐĂŶĚĚŝƐĐůŽƐƵƌĞŽĨĐŽŶƚŝŶŐĞŶƚĂƐƐĞƚƐĂŶĚ ůŝĂďŝůŝƚŝĞƐĂƚƚŚĞĚĂƚĞŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚƚŚĞƌĞƉŽƌƚĞĚĂŵŽƵŶƚƐŽĨƌĞǀĞŶƵĞƐĂŶĚ ĞǆƉĞŶĚŝƚƵƌĞƐͬĞǆƉĞŶƐĞƐĚƵƌŝŶŐƚŚĞƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚ͘ĐƚƵĂůƌĞƐƵůƚƐĐŽƵůĚĚŝĨĨĞƌĨƌŽŵƚŚŽƐĞĞƐƚŝŵĂƚĞƐ͘ EĞǁĐĐŽƵŶƚŝŶŐWƌŽŶŽƵŶĐĞŵĞŶƚƐ
ĚŽƉƚĞĚŝŶƚŚĞƵƌƌĞŶƚzĞĂƌ
'^^ƚĂƚĞŵĞŶƚEŽ͘ϴϰʹ/Ŷ:ĂŶƵĂƌǇϮϬϭϳ͕'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϴϰ͕&ŝĚƵĐŝĂƌǇĐƚŝǀŝƚŝĞƐ͘dŚĞŽďũĞĐƚŝǀĞŽĨ ƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐƚŽŝŵƉƌŽǀĞŐƵŝĚĂŶĐĞƌĞŐĂƌĚŝŶŐƚŚĞŝĚĞŶƚŝĨŝĐĂƚŝŽŶŽĨĨŝĚƵĐŝĂƌǇĂĐƚŝǀŝƚŝĞƐĨŽƌĂĐĐŽƵŶƚŝŶŐĂŶĚ ĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐƉƵƌƉŽƐĞƐĂŶĚŚŽǁƚŚŽƐĞĂĐƚŝǀŝƚŝĞƐƐŚŽƵůĚďĞƌĞƉŽƌƚĞĚ͘dŚŝƐ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌ ƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌĞĐĞŵďĞƌϭϱ͕ϮϬϭϵ͘dŚĞŝƚǇŚĂƐŝŵƉůĞŵĞŶƚĞĚƚŚŝƐ^ƚĂƚĞŵĞŶƚĞĨĨĞĐƚŝǀĞ:ƵůǇϭ͕ ϮϬϮϬ͘
'^^ƚĂƚĞŵĞŶƚEŽ͘ϵϬʹ/Ŷ^ĞƉƚĞŵďĞƌϮϬϭϴ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϬ͕DĂũŽƌŝƚǇ ƋƵŝƚǇ/ŶƚĞƌĞƐƚƐ͕Ŷ
ŵĞŶĚŵĞŶƚŽĨ'^^ƚĂƚĞŵĞŶƚƐEŽ͘ϭϰĂŶĚEŽ͘ϲϭ͘dŚĞŽďũĞĐƚŝǀĞƐŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚĂƌĞƚŽŝŵƉƌŽǀĞƚŚĞ ĐŽŶƐŝƐƚĞŶĐǇĂŶĚĐŽŵƉĂƌĂďŝůŝƚǇŽĨƌĞƉŽƌƚŝŶŐĂŐŽǀĞƌŶŵĞŶƚ͛ƐŵĂũŽƌŝƚǇĞƋƵŝƚǇŝŶƚĞƌĞƐƚŝŶĂůĞŐĂůůǇƐĞƉĂƌĂƚĞ ŽƌŐĂŶŝǌĂƚŝŽŶĂŶĚƚŽŝŵƉƌŽǀĞƚŚĞƌĞůĞǀĂŶĐĞŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚŝŶĨŽƌŵĂƚŝŽŶĨŽƌĐĞƌƚĂŝŶĐŽŵƉŽŶĞŶƚƵŶŝƚƐ͘dŚĞ ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌĞĐĞŵďĞƌϭϱ͕ϮϬϭϵ͘dŚĞŝƚǇŚĂƐŝŵƉůĞŵĞŶƚĞĚƚŚŝƐ ^ƚĂƚĞŵĞŶƚĞĨĨĞĐƚŝǀĞ:ƵůǇϭ͕ϮϬϮϬ͘
'^^ƚĂƚĞŵĞŶƚEŽ͘ϵϴʹ/ŶKĐƚŽďĞƌϮϬϮϭ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϴ͕dŚĞŶŶƵĂůŽŵƉƌĞŚĞŶƐŝǀĞ &ŝŶĂŶĐŝĂůZĞƉŽƌƚ͘dŚĞƐƚĂƚĞŵĞŶƚĞƐƚĂďůŝƐŚĞƐƚŚĞƚĞƌŵĂŶŶƵĂůĐŽŵƉƌĞŚĞŶƐŝǀĞĨŝŶĂŶĐŝĂůƌĞƉŽƌƚĂŶĚŝƚƐĂĐƌŽŶǇŵ &Z͘dŚĞŶĞǁƚĞƌŵĂŶĚĂĐƌŽŶǇŵƌĞƉůĂĐĞƐŝŶƐƚĂŶĐĞƐŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞĂŶŶƵĂůĨŝŶĂŶĐŝĂůƌĞƉŽƌƚĂŶĚŝƚƐĂĐƌŽŶǇŵ ŝŶŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐĨŽƌƐƚĂƚĞĂŶĚůŽĐĂůŐŽǀĞƌŶŵĞŶƚƐ͘dŚĞŝƚǇŝŵƉůĞŵĞŶƚĞĚƚŚŝƐ ƐƚĂƚĞŵĞŶƚĞĨĨĞĐƚŝǀĞ:ƵůǇϭ͕ϮϬϮϬ͘
394 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϮ

ĨĨĞĐƚŝǀĞŝŶ&ƵƚƵƌĞ&ŝƐĐĂůzĞĂƌƐ
dŚĞŝƚǇŝƐĐƵƌƌĞŶƚůǇĞǀĂůƵĂƚŝŶŐƚŚĞƉŽƚĞŶƚŝĂůŝŵƉĂĐƚŽĨƚŚĞĨŽůůŽǁŝŶŐŝƐƐƵĞĚ͕ďƵƚŶŽƚǇĞƚĞĨĨĞĐƚŝǀĞ͕ĂĐĐŽƵŶƚŝŶŐ ƐƚĂŶĚĂƌĚƐ͘
'^^ƚĂƚĞŵĞŶƚEŽ͘ϴϳʹ/Ŷ:ƵŶĞϮϬϭϳ͕'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϴϳ͕>ĞĂƐĞƐ͘dŚĞŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚ ŝƐƚŽďĞƚƚĞƌŵĞĞƚƚŚĞŝŶĨŽƌŵĂƚŝŽŶŶĞĞĚƐŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƵƐĞƌƐďǇŝŵƉƌŽǀŝŶŐĂĐĐŽƵŶƚŝŶŐĂŶĚĨŝŶĂŶĐŝĂů ƌĞƉŽƌƚŝŶŐĨŽƌůĞĂƐĞƐ͖ĞŶŚĂŶĐŝŶŐƚŚĞĐŽŵƉĂƌĂďŝůŝƚǇŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐďĞƚǁĞĞŶŐŽǀĞƌŶŵĞŶƚƐ͖ĂŶĚĂůƐŽ ĞŶŚĂŶĐŝŶŐƚŚĞƌĞůĞǀĂŶĐĞ͕ƌĞůŝĂďŝůŝƚǇ;ƌĞƉƌĞƐĞŶƚĂƚŝŽŶĂůĨĂŝƚŚĨƵůŶĞƐƐͿ͕ĂŶĚĐŽŶƐŝƐƚĞŶĐǇŽĨŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞ ůĞĂƐŝŶŐĂĐƚŝǀŝƚŝĞƐŽĨŐŽǀĞƌŶŵĞŶƚƐ͘dŚŝƐ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ:ƵŶĞϭϱ͕ϮϬϮϭ͕ Žƌ&zϮϬϮϭͬϮϬϮϮ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ '^^ƚĂƚĞŵĞŶƚEŽ͘ϴϵʹ/Ŷ:ƵŶĞϮϬϭϴ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϴϵ͕ĐĐŽƵŶƚŝŶŐĨŽƌ/ŶƚĞƌĞƐƚŽƐƚ/ŶĐƵƌƌĞĚ ĞĨŽƌĞƚŚĞ
ŶĚŽĨĂŽŶƐƚƌƵĐƚŝŽŶWĞƌŝŽĚ͘dŚĞŽďũĞĐƚŝǀĞƐŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚĂƌĞ;ĂͿƚŽĞŶŚĂŶĐĞƚŚĞƌĞůĞǀĂŶĐĞĂŶĚ ĐŽŵƉĂƌĂďŝůŝƚǇŽĨŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚĐĂƉŝƚĂůĂƐƐĞƚƐĂŶĚƚŚĞĐŽƐƚŽĨďŽƌƌŽǁŝŶŐĨŽƌĂƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚĂŶĚ;ďͿƚŽ ƐŝŵƉůŝĨǇĂĐĐŽƵŶƚŝŶŐĨŽƌĐĞƌƚĂŝŶŝŶƚĞƌĞƐƚĐŽƐƚƐ͘dŚŝƐ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ ĞĐĞŵďĞƌϭϱ͕ϮϬϮϬ͕Žƌ&zϮϬϮϭͬϮϬϮϮ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ '^^ƚĂƚĞŵĞŶƚEŽ͘ϵϭʹ/ŶDĂǇϮϬϭϵ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϭ͕ŽŶĚƵŝƚĞďƚKďůŝŐĂƚŝŽŶƐ͘dŚĞ ŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐƚŽƉƌŽǀŝĚĞĂƐŝŶŐůĞŵĞƚŚŽĚŽĨƌĞƉŽƌƚŝŶŐĐŽŶĚƵŝƚĚĞďƚŽďůŝŐĂƚŝŽŶƐďǇŝƐƐƵĞƐĂŶĚ ĞůŝŵŝŶĂƚĞĚŝǀĞƌƐŝƚǇŝŶƉƌĂĐƚŝĐĞ͘dŚĞ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌĞĐĞŵďĞƌϭϱ͕ ϮϬϮϭ͕Žƌ&zϮϬϮϮͬϮϬϮϯ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ '^^ƚĂƚĞŵĞŶƚEŽ͘ϵϮʹ/Ŷ:ĂŶƵĂƌǇϮϬϮϬ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϮ͕KŵŶŝďƵƐϮϬϮϬ͘dŚĞŽďũĞĐƚŝǀĞƐŽĨ ƚŚŝƐ^ƚĂƚĞŵĞŶƚĂƌĞƚŽĞŶŚĂŶĐĞĐŽŵƉĂƌĂďŝůŝƚǇŝŶĂĐĐŽƵŶƚŝŶŐĂŶĚĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐƚŽŝŵƉƌŽǀĞƚŚĞĐŽŶƐŝƐƚĞŶĐǇŽĨ ĂƵƚŚŽƌŝƚĂƚŝǀĞůŝƚĞƌĂƚƵƌĞďǇĂĚĚƌĞƐƐŝŶŐƉƌĂĐƚŝĐĞƐŝƐƐƵĞƐƚŚĂƚŚĂǀĞďĞĞŶŝĚĞŶƚŝĨŝĞĚĚƵƌŝŶŐŝŵƉůĞŵĞŶƚĂƚŝŽŶĂŶĚ ĂƉƉůŝĐĂƚŝŽŶŽĨĐĞƌƚĂŝŶ'^^ƚĂƚĞŵĞŶƚƐ͘dŚĞ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ:ƵŶĞϭϱ͕ ϮϬϮϭ͕Žƌ&zϮϬϮϭͬϮϬϮϮ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ '^^ƚĂƚĞŵĞŶƚEŽ͘ϵϯʹ/ŶDĂƌĐŚϮϬϮϬ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϯ͕ZĞƉůĂĐĞŵĞŶƚŽĨ/ŶƚĞƌďĂŶŬKĨĨĞƌĞĚ ZĂƚĞƐ͘dŚĞŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐƚŽĂĚĚƌĞƐƐƚŚĞĂĐĐŽƵŶƚŝŶŐĂŶĚĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐŝŵƉůŝĐĂƚŝŽŶƐƚŚĂƚ ƌĞƐƵůƚĨƌŽŵƚŚĞƌĞƉůĂĐĞŵĞŶƚŽĨĂŶ/KZ͘dŚĞ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ :ƵŶĞϭϱ͕ϮϬϮϭ͕Žƌ&zϮϬϮϭͬϮϬϮϮ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ '^^ƚĂƚĞŵĞŶƚEŽ͘ϵϰʹ/ŶDĂƌĐŚϮϬϮϬ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϰ͕WƵďůŝĐͲWƌŝǀĂƚĞĂŶĚWƵďůŝĐͲWƵďůŝĐ WĂƌƚŶĞƌƐŚŝƉƐĂŶĚǀĂŝůĂďŝůŝƚǇWĂǇŵĞŶƚƌƌĂŶŐĞŵĞŶƚƐ͘dŚĞŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐƚŽŝŵƉƌŽǀĞĨŝŶĂŶĐŝĂů ƌĞƉŽƌƚŝŶŐďǇĂĚĚƌĞƐƐŝŶŐŝƐƐƵĞƐƌĞůĂƚĞĚƚŽƉƵďůŝĐͲƉƌŝǀĂƚĞĂŶĚƉƵďůŝĐͲƉƵďůŝĐƉĂƌƚŶĞƌƐŚŝƉĂƌƌĂŶŐĞŵĞŶƚƐ;WWWƐͿ͘dŚĞ ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ:ƵŶĞϭϱ͕ϮϬϮϮ͕Žƌ&zϮϬϮϮͬϮϬϮϯ͘dŚĞŝƚǇŚĂƐŶŽƚ ĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
'^^ƚĂƚĞŵĞŶƚEŽ͘ϵϲʹ/ŶDĂǇϮϬϮϬ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϲ͕^ƵďƐĐƌŝƉƚŝŽŶͲďĂƐĞĚ/ŶĨŽƌŵĂƚŝŽŶ dĞĐŚŶŽůŽŐǇƌƌĂŶŐĞŵĞŶƚƐ͘dŚĞŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐƚŽƉƌŽǀŝĚĞŐƵŝĚĂŶĐĞŽŶƚŚĞĂĐĐŽƵŶƚŝŶŐĂŶĚ ĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĨŽƌƐƵďƐĐƌŝƉƚŝŽŶͲďĂƐĞĚŝŶĨŽƌŵĂƚŝŽŶƚĞĐŚŶŽůŽŐǇĂƌƌĂŶŐĞŵĞŶƚƐ;^/dƐͿĨŽƌŐŽǀĞƌŶŵĞŶƚĞŶĚ ƵƐĞƌƐ;ŐŽǀĞƌŶŵĞŶƚƐͿ͘dŚĞ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐĂĨƚĞƌ:ƵŶĞϭϱ͕ϮϬϮϮ͕Žƌ&z ϮϬϮϮͬϮϬϮϯ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ 395 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϯ
'^^ƚĂƚĞŵĞŶƚEŽ͘ϵϳʹ/Ŷ:ƵŶĞϮϬϮϬ͕ƚŚĞ'^ŝƐƐƵĞĚ^ƚĂƚĞŵĞŶƚEŽ͘ϵϳ͕ĞƌƚĂŝŶŽŵƉŽŶĞŶƚhŶŝƚƌŝƚĞƌŝĂ͕ ĂŶĚĐĐŽƵŶƚŝŶŐĂŶĚ&ŝŶĂŶĐŝĂůZĞƉŽƌƚŝŶŐĨŽƌ/ŶƚĞƌŶĂůZĞǀĞŶƵĞŽĚĞ^ĞĐƚŝŽŶϰϱϳĞĨĞƌƌĞĚŽŵƉĞŶƐĂƚŝŽŶWůĂŶƐʹ ŶŵĞŶĚŵĞŶƚŽĨ'^^ƚĂƚĞŵĞŶƚEŽ͘ϭϰĂŶĚEŽ͘ϴϰĂŶĚ^ƵƉĞƌƐĞƐƐŝŽŶŽĨ'^^ƚĂƚĞŵĞŶƚEŽ͘ϯϮ͘dŚĞ ŽďũĞĐƚŝǀĞŽĨƚŚŝƐ^ƚĂƚĞŵĞŶƚŝƐ;ϭͿŝŶĐƌĞĂƐĞĐŽŶƐŝƐƚĞŶĐǇĂŶĚĐŽŵƉĂƌĂďŝůŝƚǇƌĞůĂƚĞĚƚŽƚŚĞƌĞƉŽƌƚŝŶŐŽĨĨŝĚƵĐŝĂƌǇ ĐŽŵƉŽŶĞŶƚƵŶŝƚƐŝŶĐŝƌĐƵŵƐƚĂŶĐĞƐŝŶǁŚŝĐŚĂƉŽƚĞŶƚŝĂůĐŽŵƉŽŶĞŶƚƵŶŝƚĚŽĞƐŶŽƚŚĂǀĞĂŐŽǀĞƌŶŝŶŐďŽĂƌĚĂŶĚƚŚĞ ƉƌŝŵĂƌǇŐŽǀĞƌŶŵĞŶƚƉĞƌĨŽƌŵƐƚŚĞĚƵƚŝĞƐƚŚĂƚĂŐŽǀĞƌŶŝŶŐďŽĂƌĚƚǇƉŝĐĂůůǇǁŽƵůĚƉĞƌĨŽƌŵ͖;ϮͿŵŝƚŝŐĂƚĞĐŽƐƚƐ ĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞƌĞƉŽƌƚŝŶŐŽĨĐĞƌƚĂŝŶĚĞĨŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƉĞŶƐŝŽŶƉůĂŶƐ͕ĚĞĨŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶŽƚŚĞƌ ƉŽƐƚĞŵƉůŽǇŵĞŶƚďĞŶĞĨŝƚ;KW
ͿƉůĂŶƐ͕ĂŶĚĞŵƉůŽǇĞĞďĞŶĞĨŝƚƉůĂŶƐŽƚŚĞƌƚŚĂŶƉĞŶƐŝŽŶƉůĂŶƐŽƌKW ƉůĂŶƐ
;ŽƚŚĞƌĞŵƉůŽǇĞĞďĞŶĞĨŝƚƉůĂŶƐͿĂƐĨŝĚƵĐŝĂƌǇĐŽŵƉŽŶĞŶƚƵŶŝƚƐŝŶĨŝĚƵĐŝĂƌǇĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͖ĂŶĚ ;ϯͿĞŶŚĂŶĐĞƚŚĞƌĞůĞǀĂŶĐĞ͕ĐŽŶƐŝƐƚĞŶĐǇ͕ĂŶĚĐŽŵƉĂƌĂďŝůŝƚǇŽĨƚŚĞĂĐĐŽƵŶƚŝŶŐĂŶĚĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝŶŐĨŽƌ/ŶƚĞƌŶĂů ZĞǀĞŶƵĞŽĚĞ;/ZͿ^ĞĐƚŝŽŶϰϱϳĚĞĨĞƌƌĞĚĐŽŵƉĞŶƐĂƚŝŽŶƉůĂŶƐ;^ĞĐƚŝŽŶϰϱϳƉůĂŶƐͿƚŚĂƚŵĞĞƚƚŚĞĚĞĨŝŶŝƚŝŽŶŽĨĂ ƉĞŶƐŝŽŶƉůĂŶĂŶĚĨŽƌďĞŶĞĨŝƚƐƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚƚŚŽƐĞƉůĂŶƐ͘dŚĞ^ƚĂƚĞŵĞŶƚŝƐĞĨĨĞĐƚŝǀĞĨŽƌƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚƐ ďĞŐŝŶŶŝŶŐĂĨƚĞƌ:ƵŶĞϭϱ͕ϮϬϮϭ͕Žƌ&zϮϬϮϭͬϮϬϮϮ͘dŚĞŝƚǇŚĂƐŶŽƚĚĞƚĞƌŵŝŶĞĚƚŚĞĞĨĨĞĐƚŽŶƚŚĞĨŝŶĂŶĐŝĂů ƐƚĂƚĞŵĞŶƚƐ͘
EŽƚĞϮͲ ĂƐŚĂŶĚ/ŶǀĞƐƚŵĞŶƚƐ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĂƌĞĐůĂƐƐŝĨŝĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĨŽůůŽǁƐ͗ ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϱϵ͕ϵϱϱ͕ϭϮϱ Ψ
ZĞƐƚƌŝĐƚĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϭ͕ϯϴϭ͕ϵϮϮ
^ƚĂƚĞŵĞŶƚŽĨ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ϯϲ͕ϯϳϯ͕ϴϴϭ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐǁŝƚŚĨŝƐĐĂůĂŐĞŶƚ ϭ͕ϰϮϭ dŽƚĂůĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϵϳ͕ϳϭϮ͕ϯϰϵ Ψ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĐŽŶƐŝƐƚŽĨƚŚĞĨŽůůŽǁŝŶŐ͗ ĂƐŚŽŶŚĂŶĚ Ψϯ͕ϯϬϬ
ĞƉŽƐŝƚƐǁŝƚŚĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶƐ ϭϱ͕ϴϬϵ͕ϲϲϯ /ŶǀĞƐƚŵĞŶƚƐ ϭϴϭ͕ϴϵϵ͕ϯϴϲ
dŽƚĂůĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϭϵϳ͕ϳϭϮ͕ϯϰϵ Ψ

396 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϰ
/ŶǀĞƐƚŵĞŶƚƐƵƚŚŽƌŝǌĞĚďǇƚŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞĂŶĚƚŚĞŝƚǇ͛Ɛ/ŶǀĞƐƚŵĞŶƚWŽůŝĐǇ dŚĞƚĂďůĞďĞůŽǁŝĚĞŶƚŝĨŝĞƐƚŚĞŝŶǀĞƐƚŵĞŶƚƚǇƉĞƐƚŚĂƚĂƌĞĂƵƚŚŽƌŝǌĞĚďǇƚŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞĂŶĚƚŚĞ ŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇ͘dŚĞƚĂďůĞĂůƐŽŝĚĞŶƚŝĨŝĞƐĐĞƌƚĂŝŶƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞ;ŽƌƚŚĞ ŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇ͕ŝĨŵŽƌĞƌĞƐƚƌŝĐƚŝǀĞͿƚŚĂƚĂĚĚƌĞƐƐŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬ͕ĐƌĞĚŝƚƌŝƐŬ͕ĂŶĚĐŽŶĐĞŶƚƌĂƚŝŽŶŽĨ ĐƌĞĚŝƚƌŝƐŬ͘
dŚŝƐƚĂďůĞĚŽĞƐŶŽƚĂĚĚƌĞƐƐŝŶǀĞƐƚŵĞŶƚƐŽĨĚĞďƚƉƌŽĐĞĞĚƐŚĞůĚďǇďŽŶĚƚƌƵƐƚĞĞƚŚĂƚĂƌĞŐŽǀĞƌŶĞĚďǇƚŚĞ ƉƌŽǀŝƐŝŽŶƐŽĨĚĞďƚĂŐƌĞĞŵĞŶƚƐŽĨƚŚĞŝƚǇ͕ƌĂƚŚĞƌƚŚĂŶƚŚĞŐĞŶĞƌĂůƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞ ŽƌƚŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇ͘
DĂǆŝŵƵŵ DĂǆŝŵƵŵ
DĂǆŝŵƵŵ WĞƌĐĞŶƚĂŐĞ /ŶǀĞƐƚŵĞŶƚ
DĂƚƵƌŝƚǇ ůůŽǁĞĚ ŝŶKŶĞ/ƐƐƵĞƌ
h͘^͘dƌĞĂƐƵƌǇKďůŝŐĂƚŝŽŶƐ ϱǇĞĂƌƐ Eͬ Eͬ
h͘^͘ŐĞŶĐǇ^ĞĐƵƌŝƚŝĞƐ ϱǇĞĂƌƐ Eͬ ϮϬŵŝůůŝŽŶ
>ŽĐĂůŐĞŶĐǇŽŶĚƐ ϱǇĞĂƌƐ Eͬ Eͬ
ĂůŝĨŽƌŶŝĂ>ŽĐĂůŐĞŶĐǇKďůŝŐĂƚŝŽŶƐ ϱǇĞĂƌƐ Eͬ Eͬ ŽŵŵĞƌĐŝĂůWĂƉĞƌ ϮϳϬĚĂǇƐ Ϯϱй ϭϬйŽĨĂŶǇŽƵƚƐƚĂŶĚŝŶŐŝƐƐƵĞ ĞƌƚŝĨŝĐĂƚĞƐŽĨĞƉŽƐŝƚ ϱǇĞĂƌƐ ϯϬй ϮϱϬ͕ϬϬϬ
EĞŐŽƚŝĂďůĞĞƌƚŝĨŝĐĂƚĞƐŽĨĞƉŽƐŝƚƐ ϱǇĞĂƌƐ ϯϬй ϮϱϬ͕ϬϬϬ ŽƌƉŽƌĂƚĞEŽƚĞƐ ϱǇĞĂƌƐ ϯϬй ϱŵŝůůŝŽŶ
/ŶǀĞƐƚŵĞŶƚWŽŽůƐ;ZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽůͿ Eͬ Eͬ Eͬ
DŽŶĞǇDĂƌŬĞƚDƵƚƵĂů&ƵŶĚƐ Eͬ ϮϬй ϭϬйŽĨŝƚǇĨƵŶĚƐ
>ŽĐĂůŐĞŶĐǇ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚ;>/&Ϳ Eͬ Eͬ >/&>ŝŵŝƚ
/ŶǀĞƐƚŵĞŶƚŐƌĞĞŵĞŶƚƐ ϵϮĚĂǇƐ ϮϬй Eͬ
/ŶǀĞƐƚŵĞŶƚdǇƉĞƐ
/ŶǀĞƐƚŵĞŶƚƐƵƚŚŽƌŝǌĞĚďǇƚŚĞŝƚǇ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ
/ŶǀĞƐƚŵĞŶƚƐŽĨƚŚĞdƌƵƐƚĂƌĞŐŽǀĞƌŶĞĚďǇƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚŐƌĞĞŵĞŶƚ͕ ƌĂƚŚĞƌƚŚĂŶƚŚĞŐĞŶĞƌĂůƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞŽƌƚŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇ͘ /ŶǀĞƐƚŵĞŶƚƐĂƵƚŚŽƌŝǌĞĚĨŽƌĨƵŶĚƐŚĞůĚŝŶƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚŝŶĐůƵĚĞ ƋƵŝƚǇĂŶĚ&ŝǆĞĚ/ŶĐŽŵĞDƵƚƵĂů&ƵŶĚƐ͘
dŚĞƐƚƌĂƚĞŐŝĐƌĂŶŐĞĂůůŽǁĞĚĨŽƌ
ƋƵŝƚǇĂŶĚ&ŝǆĞĚ/ŶĐŽŵĞDƵƚƵĂů&ƵŶĚƐŝƐϮϬйͲϰϬйĂŶĚϱϬϬйͲϴϬй͕ƌĞƐƉĞĐƚŝǀĞůǇ͘ dŚĞƌĞĂƌĞŶŽůŝŵŝƚĂƚŝŽŶƐŽŶƚŚĞŵĂǆŝŵƵŵĂŵŽƵŶƚƚŚĂƚĐĂŶďĞŝŶǀĞƐƚĞĚŝŶŽŶĞŝƐƐƵĞƌŽƌƚŚĞŵĂǆŝŵƵŵŵĂƚƵƌŝƚǇ ŽĨĂŶŝŶǀĞƐƚŵĞŶƚƐ͘
ŝƐĐůŽƐƵƌĞƐZĞůĂƚŝŶŐƚŽ/ŶƚĞƌĞƐƚZĂƚĞZŝƐŬ
/ŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŝƐƚŚĞƌŝƐŬƚŚĂƚĐŚĂŶŐĞƐŝŶŵĂƌŬĞƚŝŶƚĞƌĞƐƚƌĂƚĞƐǁŝůůĂĚǀĞƌƐĞůǇĂĨĨĞĐƚƚŚĞĨĂŝƌǀĂůƵĞŽĨĂŶ ŝŶǀĞƐƚŵĞŶƚ͘'ĞŶĞƌĂůůǇ͕ƚŚĞůŽŶŐĞƌƚŚĞŵĂƚƵƌŝƚǇŽĨĂŶŝŶǀĞƐƚŵĞŶƚ͕ƚŚĞŐƌĞĂƚĞƌƚŚĞƐĞŶƐŝƚŝǀŝƚǇŽĨŝƚƐĨĂŝƌǀĂůƵĞƚŽ ĐŚĂŶŐĞƐŝŶŵĂƌŬĞƚŝŶƚĞƌĞƐƚƌĂƚĞƐ͘
397 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϱ
KŶĞŽĨƚŚĞǁĂǇƐƚŚĂƚƚŚĞŝƚǇŵĂŶĂŐĞƐŝƚƐĞǆƉŽƐƵƌĞƚŽŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŝƐďǇƉƵƌĐŚĂƐŝŶŐĂĐŽŵďŝŶĂƚŝŽŶŽĨƐŚŽƌƚ ƚĞƌŵĂŶĚůŽŶŐƚĞƌŵŝŶǀĞƐƚŵĞŶƚƐĂŶĚďǇƚŝŵŝŶŐĐĂƐŚĨůŽǁƐĨƌŽŵŵĂƚƵƌŝƚŝĞƐƐŽƚŚĂƚĂƉŽƌƚŝŽŶŽĨƚŚĞƉŽƌƚĨŽůŝŽŝƐ ŵĂƚƵƌŝŶŐŽƌĐŽŵŝŶŐĐůŽƐĞƚŽŵĂƚƵƌŝƚǇĞǀĞŶůǇŽǀĞƌƚŝŵĞĂƐŶĞĐĞƐƐĂƌǇƚŽƉƌŽǀŝĚĞƚŚĞĐĂƐŚĨůŽǁĂŶĚůŝƋƵŝĚŝƚǇ ŶĞĞĚĞĚĨŽƌŽƉĞƌĂƚŝŽŶƐ͘
/ŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞƐĞŶƐŝƚŝǀŝƚǇŽĨƚŚĞĨĂŝƌǀĂůƵĞƐŽĨƚŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƐ;ŝŶĐůƵĚŝŶŐŝŶǀĞƐƚŵĞŶƚƐŚĞůĚďǇďŽŶĚ ƚƌƵƐƚĞĞͿƚŽŵĂƌŬĞƚŝŶƚĞƌĞƐƚƌĂƚĞĨůƵĐƚƵĂƚŝŽŶƐŝƐƉƌŽǀŝĚĞĚďǇƚŚĞĨŽůůŽǁŝŶŐƚĂďůĞƚŚĂƚƐŚŽǁƐƚŚĞĚŝƐƚƌŝďƵƚŝŽŶŽĨƚŚĞ ŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƐďǇŵĂƚƵƌŝƚǇ͗
ϭǇĞĂƌ
dŽƚĂů Kƌ>ĞƐƐ ϭƚŽϯǇĞĂƌƐ ϯƚŽϱǇĞĂƌƐ
ĞƌƚŝĨŝĐĂƚĞƐŽĨĞƉŽƐŝƚ ϯϮ͕ϳϰϲ͕ϰϱϬ Ψ ϲ͕ϲϳϭ͕ϭϴϰ Ψ ϭϲ͕ϭϴϲ͕ϲϬϯ Ψ ϵ͕ϴϴϴ͕ϲϲϯ Ψ &ĞĚĞƌĂůĂŐĞŶĐǇƐĞĐƵƌŝƚŝĞƐ
&ĞĚĞƌĂů&ĂƌŵƌĞĚŝƚĂŶŬ ϴ͕ϰϯϱ͕ϵϮϬ ϭ͕ϬϬϮ͕ϳϱϬ ϰ͕ϯϲϭ͕ϱϲϱ ϯ͕Ϭϳϭ͕ϲϬϱ &ĞĚĞƌĂůEĂƚŝŽŶĂůDŽƌƚŐĂŐĞƐƐŽĐŝĂƚŝŽŶ ϱ͕ϱϬϭ͕ϱϳϬ Ͳ ϭ͕Ϭϭϰ͕ϯϴϬ ϰ͕ϰϴϳ͕ϭϵϬ &ĞĚĞƌĂů,ŽŵĞ>ŽĂŶDŽƌƚŐĂŐĞŽƌƉ ϯ͕ϵϱϮ͕ϵϯϰ Ͳ Ͳ ϯ͕ϵϱϮ͕ϵϯϰ &ĞĚĞƌĂů,ŽŵĞ>ŽĂŶĂŶŬ ϰ͕Ϯϵϯ͕ϮϮϱ ϱϮϴ͕ϭϴϬ Ͳ ϯ͕ϳϲϱ͕Ϭϰϱ h͘^͘dƌĞĂƐƵƌǇEŽƚĞƐ ϭϬ͕ϬϬϬ͕ϴϵϱ Ϯ͕ϱϭϱ͕ϭϰϱ ϭ͕ϬϮϮ͕ϴϱϬ ϲ͕ϰϲϮ͕ϵϬϬ ŽƌƉŽƌĂƚĞEŽƚĞƐ Ϯ͕ϵϰϬ͕ϵϴϰ ϭ͕ϬϬϲ͕ϰϮϱ ϭ͕ϰϰϭ͕Ϭϱϰ ϰϵϯ͕ϱϬϱ >ŽĐĂůŐĞŶĐǇ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚ ϳϳ͕ϱϭϳ͕Ϭϲϲ ϳϳ͕ϱϭϳ͕Ϭϲϲ Ͳ Ͳ DW ϭϯ͕ϴϱϰ͕ϰϰϭ ϭϯ͕ϴϱϰ͕ϰϰϭ Ͳ Ͳ
ZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽů ϭϭ͕ϰϮϯ͕ϵϯϭ ϭϭ͕ϰϮϯ͕ϵϯϭ Ͳ Ͳ
^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ

ƋƵŝƚǇDƵƚƵĂů&ƵŶĚƐ ϯ͕ϲϳϳ͕ϭϮϵ ϯ͕ϲϳϳ͕ϭϮϵ Ͳ Ͳ
&ŝǆĞĚ/ŶĐŽŵĞDƵƚƵĂů&ƵŶĚƐ ϳ͕ϱϱϯ͕ϰϮϬ ϳ͕ϱϱϯ͕ϰϮϬ Ͳ Ͳ ,ĞůĚďǇ&ŝƐĐĂůŐĞŶƚ
DŽŶĞǇDĂƌŬĞƚDƵƚƵĂů&ƵŶĚƐ ϭ͕ϰϮϭ ϭ͕ϰϮϭ Ͳ Ͳ
dŽƚĂů Ψϭϴϭ͕ϴϵϵ͕ϯϴϲ ΨϭϮϱ͕ϮϮϮ͕ϵϭϮ ΨϮϰ͕ϱϱϰ͕ϲϯϮ ΨϯϮ͕ϭϮϭ͕ϴϰϮ ZĞŵĂŝŶŝŶŐDĂƚƵƌŝƚǇ;ŝŶzĞĂƌƐͿ
/ŶǀĞƐƚŵĞŶƚdǇƉĞ
398 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϲ
ŝƐĐůŽƐƵƌĞƐZĞůĂƚŝŶŐƚŽƌĞĚŝƚZŝƐŬ
'ĞŶĞƌĂůůǇ͕ĐƌĞĚŝƚƌŝƐŬŝƐƚŚĞƌŝƐŬƚŚĂƚĂŶŝƐƐƵĞƌŽĨĂŶŝŶǀĞƐƚŵĞŶƚǁŝůůŶŽƚĨƵůĨŝůůŝƚƐŽďůŝŐĂƚŝŽŶƚŽƚŚĞŚŽůĚĞƌŽĨƚŚĞ ŝŶǀĞƐƚŵĞŶƚ͘dŚŝƐŝƐŵĞĂƐƵƌĞĚďǇƚŚĞĂƐƐŝŐŶŵĞŶƚŽĨĂƌĂƚŝŶŐďǇĂŶĂƚŝŽŶĂůůǇƌĞĐŽŐŶŝǌĞĚƐƚĂƚŝƐƚŝĐĂůƌĂƚŝŶŐ ŽƌŐĂŶŝǌĂƚŝŽŶ͘dŚĞŝƚǇΖƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇůŝŵŝƚƐŝŶǀĞƐƚŵĞŶƚƐŝŶĐŽŵŵĞƌĐŝĂůƉĂƉĞƌĂŶĚŵŽŶĞǇŵĂƌŬĞƚŵƵƚƵĂů ĨƵŶĚƐƚŽƚŚŽƐĞƌĂƚĞĚƚŚĞŚŝŐŚĞƐƚƌĂƚŝŶŐĂƐƌĂƚĞĚďǇDŽŽĚǇ͛ƐŽƌ^ƚĂŶĚĂƌĚĂŶĚWŽŽƌ͛Ɛ;^ΘWͿ͘WƌĞƐĞŶƚĞĚďĞůŽǁĂƌĞ ƚŚĞ^ΘWƌĂƚŝŶŐƐĂƐŽĨǇĞĂƌͲĞŶĚ͗
dŽƚĂů н Ͳ
&ĞĚĞƌĂůŐĞŶĐǇ^ĞĐƵƌŝƚŝĞƐ ΨϮϮ͕ϭϴϯ͕ϲϰϵ Ψ ϮϮ͕ϭϴϯ͕ϲϰϵ Ͳ Ψ ΨͲ ΨͲ ŽƌƉŽƌĂƚĞEŽƚĞƐ Ϯ͕ϵϰϬ͕ϵϴϰ ϵϬϲ͕ϰϰϵ ϱϬϬ͕ϬϰϬ ϱϭϰ͕ϱϰϬ ϭ͕Ϭϭϵ͕ϵϱϱ DW ϭϯ͕ϴϱϰ͕ϰϰϭ ϭϯ͕ϴϱϰ͕ϰϰϭ Ͳ Ͳ Ͳ dŽƚĂů ϯϴ͕ϵϳϵ͕Ϭϳϰ Ψϭϰ͕ϳϲϬ͕ϴϵϬ ΨϮϮ͕ϲϴϯ͕ϲϴϵ Ψϱϭϰ͕ϱϰϬ Ψϭ͕Ϭϭϵ͕ϵϱϱ

ǆĞŵƉƚĨƌŽŵƌĞĚŝƚZŝƐŬĚŝƐĐůŽƐƵƌĞ͗
h͘^͘dƌĞĂƐƵƌǇEŽƚĞƐ ϭϬ͕ϬϬϬ͕ϴϵϱ
EŽƚƌĂƚĞĚ͗
ĞƌƚŝĨŝĐĂƚĞƐŽĨĞƉŽƐŝƚ ϯϮ͕ϳϰϲ͕ϰϱϬ
>ŽĐĂůŐĞŶĐǇ/ŶǀĞƐƚŵĞŶƚWŽŽů ϳϳ͕ϱϭϳ͕Ϭϲϲ
ZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽů ϭϭ͕ϰϮϯ͕ϵϯϭ
^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ͗

ƋƵŝƚǇDƵƚƵĂů&ƵŶĚƐ ϯ͕ϲϳϳ͕ϭϮϵ
&ŝǆĞĚ/ŶĐŽŵĞDƵƚƵĂů&ƵŶĚƐ ϳ͕ϱϱϯ͕ϰϮϬ
,ĞůĚďǇ&ŝƐĐĂůŐĞŶƚ͗
DŽŶĞǇDĂƌŬĞƚDƵƚƵĂů&ƵŶĚƐ ϭ͕ϰϮϭ
dŽƚĂůŝŶǀĞƐƚŵĞŶƚƐ Ψϭϴϭ͕ϴϵϵ͕ϯϴϲ
/ŶǀĞƐƚŵĞŶƚdǇƉĞ
ŽŶĐĞŶƚƌĂƚŝŽŶŽĨƌĞĚŝƚZŝƐŬ
/ŶǀĞƐƚŵĞŶƚƐŝŶĂŶǇŽŶĞŝƐƐƵĞƌƚŚĂƚƌĞƉƌĞƐĞŶƚϱƉĞƌĐĞŶƚŽƌŵŽƌĞŽĨƚŽƚĂůŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƐĂƌĞĂƐĨŽůůŽǁƐ͗ ZĞƉŽƌƚĞĚ WĞƌĐĞŶƚŽĨ
/ŶǀĞƐƚŵĞŶƚdǇƉĞ ŵŽƵŶƚ WŽƌƚĨŽůŝŽ
&ĞĚĞƌĂů&ĂƌŵƌĞĚŝƚĂŶŬ &ĞĚĞƌĂůŐĞŶĐǇ^ĞĐƵƌŝƚŝĞƐ ϴ͕ϰϯϱ͕ϵϮϬ Ψ ϱй /ƐƐƵĞƌ
ƵƐƚŽĚŝĂůƌĞĚŝƚZŝƐŬ
ƵƐƚŽĚŝĂůĐƌĞĚŝƚƌŝƐŬĨŽƌĚĞƉŽƐŝƚƐŝƐƚŚĞƌŝƐŬƚŚĂƚ͕ŝŶƚŚĞĞǀĞŶƚŽĨƚŚĞĨĂŝůƵƌĞŽĨĂĚĞƉŽƐŝƚŽƌǇĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶ͕Ă ŐŽǀĞƌŶŵĞŶƚǁŝůůŶŽƚďĞĂďůĞƚŽƌĞĐŽǀĞƌŝƚƐĚĞƉŽƐŝƚƐŽƌǁŝůůŶŽƚďĞĂďůĞƚŽƌĞĐŽǀĞƌĐŽůůĂƚĞƌĂůƐĞĐƵƌŝƚŝĞƐƚŚĂƚĂƌĞŝŶ ƚŚĞƉŽƐƐĞƐƐŝŽŶŽĨĂŶŽƵƚƐŝĚĞƉĂƌƚǇ͘dŚĞĐƵƐƚŽĚŝĂůĐƌĞĚŝƚƌŝƐŬĨŽƌŝŶǀĞƐƚŵĞŶƚƐŝƐƚŚĞƌŝƐŬƚŚĂƚ͕ŝŶƚŚĞĞǀĞŶƚŽĨƚŚĞ ĨĂŝůƵƌĞŽĨƚŚĞĐŽƵŶƚĞƌƉĂƌƚǇ;Ğ͘Ő͕͘ďƌŽŬĞƌͲĚĞĂůĞƌͿƚŽĂƚƌĂŶƐĂĐƚŝŽŶ͕ĂŐŽǀĞƌŶŵĞŶƚǁŝůůŶŽƚďĞĂďůĞƚŽƌĞĐŽǀĞƌƚŚĞ ǀĂůƵĞŽĨŝƚƐŝŶǀĞƐƚŵĞŶƚŽƌĐŽůůĂƚĞƌĂůƐĞĐƵƌŝƚŝĞƐƚŚĂƚĂƌĞŝŶƚŚĞƉŽƐƐĞƐƐŝŽŶŽĨĂŶŽƚŚĞƌƉĂƌƚǇ͘dŚĞŝƚǇƵƚŝůŝǌĞƐ ĚĞůŝǀĞƌǇǀĞƌƐƵƐƉĂǇŵĞŶƚĨŽƌŝŶǀĞƐƚŵĞŶƚƉƵƌĐŚĂƐĞƐ͕ǁŚŝĐŚƌĞƋƵŝƌĞƐŝŶǀĞƐƚŵĞŶƚƐƚŽďĞƌĞĐĞŝǀĞĚƉƌŝŽƌƚŽĚĞůŝǀĞƌǇ ŽĨĐĂƐŚƉĂǇŵĞŶƚ͘dŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞĂŶĚƚŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚƉŽůŝĐǇĚŽŶŽƚĐŽŶƚĂŝŶůĞŐĂůŽƌƉŽůŝĐǇ ƌĞƋƵŝƌĞŵĞŶƚƐƚŚĂƚǁŽƵůĚůŝŵŝƚƚŚĞĞǆƉŽƐƵƌĞƚŽĐƵƐƚŽĚŝĂůĐƌĞĚŝƚƌŝƐŬĨŽƌĚĞƉŽƐŝƚƐŽƌŝŶǀĞƐƚŵĞŶƚƐ͕ŽƚŚĞƌƚŚĂŶƚŚĞ 399 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϳ
ĨŽůůŽǁŝŶŐƉƌŽǀŝƐŝŽŶĨŽƌĚĞƉŽƐŝƚƐ͗dŚĞĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞƌĞƋƵŝƌĞƐƚŚĂƚĂĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶƐĞĐƵƌĞ ĚĞƉŽƐŝƚƐŵĂĚĞďǇƐƚĂƚĞŽƌůŽĐĂůŐŽǀĞƌŶŵĞŶƚĂůƵŶŝƚƐďǇƉůĞĚŐŝŶŐƐĞĐƵƌŝƚŝĞƐŝŶĂŶƵŶĚŝǀŝĚĞĚĐŽůůĂƚĞƌĂůƉŽŽůŚĞůĚďǇ ĂĚĞƉŽƐŝƚŽƌǇƌĞŐƵůĂƚĞĚƵŶĚĞƌƐƚĂƚĞůĂǁ;ƵŶůĞƐƐƐŽǁĂŝǀĞĚďǇƚŚĞŐŽǀĞƌŶŵĞŶƚĂůƵŶŝƚͿ͘dŚĞŵĂƌŬĞƚǀĂůƵĞŽĨƚŚĞ ƉůĞĚŐĞĚƐĞĐƵƌŝƚŝĞƐŝŶƚŚĞĐŽůůĂƚĞƌĂůƉŽŽůŵƵƐƚĞƋƵĂůĂƚůĞĂƐƚϭϭϬƉĞƌĐĞŶƚŽĨƚŚĞƚŽƚĂůĂŵŽƵŶƚĚĞƉŽƐŝƚĞĚďǇƚŚĞ ƉƵďůŝĐĂŐĞŶĐŝĞƐ͘ĂůŝĨŽƌŶŝĂůĂǁĂůƐŽĂůůŽǁƐĨŝŶĂŶĐŝĂůŝŶƐƚŝƚƵƚŝŽŶƐƚŽƐĞĐƵƌĞŝƚǇĚĞƉŽƐŝƚƐďǇƉůĞĚŐŝŶŐĨŝƌƐƚƚƌƵƐƚ ĚĞĞĚŵŽƌƚŐĂŐĞŶŽƚĞƐŚĂǀŝŶŐĂǀĂůƵĞŽĨϭϱϬƉĞƌĐĞŶƚŽĨƚŚĞƐĞĐƵƌĞĚƉƵďůŝĐĚĞƉŽƐŝƚƐ͕ŽƌďǇůĞƚƚĞƌƐŽĨĐƌĞĚŝƚŝƐƐƵĞĚ ďǇƚŚĞ&ĞĚĞƌĂů,ŽŵĞ>ŽĂŶĂŶŬŽĨ^ĂŶ&ƌĂŶĐŝƐĐŽŚĂǀŝŶŐĂǀĂůƵĞŽĨϭϬϱƉĞƌĐĞŶƚŽĨƚŚĞƐĞĐƵƌĞĚƉƵďůŝĐĚĞƉŽƐŝƚƐ͘ ƐĂƉƵďůŝĐĨƵŶĚƐĚĞƉŽƐŝƚŽƌǇtĞůůƐ&ĂƌŐŽĂŶĚĂŶŬŽĨƚŚĞtĞƐƚŵĂŝŶƚĂŝŶƐĂƉƵďůŝĐĨƵŶĚƐĚĞƉŽƐŝƚĐŽůůĂƚĞƌĂůŝǌĂƚŝŽŶ ƉƌŽŐƌĂŵƚŚĂƚŝƐĚĞƐŝŐŶĞĚƚŽĐŽŵƉůǇǁŝƚŚĂůůĂƉƉůŝĐĂďůĞƐƚĂƚƵƚĞƐĂŶĚƌĞŐƵůĂƚŝŽŶƐŐŽǀĞƌŶŝŶŐƉƵďůŝĐĨƵŶĚƐĚĞƉŽƐŝƚƐ͕ ŝŶĐůƵĚŝŶŐƉůĞĚŐĞĂŶĚƉĞƌĨĞĐƚŝŽŶŽĨĐŽůůĂƚĞƌĂů͘ĐĐŽƵŶƚƐŚŽůĚŝŶŐƉƵďůŝĐĨƵŶĚƐĂƌĞůĂďĞůĞĚĂƐƐƵĐŚĂŶĚƚƌŝŐŐĞƌ ĐŽůůĂƚĞƌĂůŝǌĂƚŝŽŶ͘ŽůůĂƚĞƌĂůŶĞĞĚƐĂƌĞŵĞƚďĂƐĞĚŽŶƚŚĞƉƌŝŽƌĚĂǇĐůŽƐĞŽĨďƵƐŝŶĞƐƐ͘,ŽǁĞǀĞƌ͕ƐĂŵĞͲĚĂǇ ĐŽůůĂƚĞƌĂůƌĞƋƵĞƐƚƐŵĂǇďĞĂĐĐŽŵŵŽĚĂƚĞĚƵƉŽŶƌĞƋƵĞƐƚ͘ /ŶǀĞƐƚŵĞŶƚŝŶZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽů
dŚĞŝƚǇŝƐĂǀŽůƵŶƚĂƌǇƉĂƌƚŝĐŝƉĂŶƚŝŶƚŚĞZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽůĞĚ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚƚŚĂƚŝƐƌĞŐƵůĂƚĞĚďǇĂůŝĨŽƌŶŝĂ 'ŽǀĞƌŶŵĞŶƚŽĚĞ^ĞĐƚŝŽŶϱϯϲϰϲĂŶĚŵĂŶĂŐĞĚďǇƚŚĞZŝǀĞƌƐŝĚĞŽƵŶƚǇdƌĞĂƐƵƌĞƌ͘dŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶƚŚŝƐ ƉŽŽůŝƐƌĞƉŽƌƚĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨŶĞƚƉŽƐŝƚŝŽŶĂŶĚƉƌĞƉĂƌĞĚƵƐŝŶŐƚŚĞĂĐĐƌƵĂůďĂƐŝƐ ŽĨĂĐĐŽƵŶƚŝŶŐ͘/ŶǀĞƐƚŵĞŶƚƐĂƌĞƌĞƉŽƌƚĞĚĂƚĨĂŝƌǀĂůƵĞ͘dŚĞďĂůĂŶĐĞĂǀĂŝůĂďůĞĨŽƌǁŝƚŚĚƌĂǁĂůŝƐďĂƐĞĚŽŶƚŚĞ ĂĐĐŽƵŶƚŝŶŐƌĞĐŽƌĚƐŵĂŝŶƚĂŝŶĞĚďǇƚŚĞŽƵŶƚǇ͘dŚĞZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽůĞĚ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚŝƐŶŽƚƌĞŐŝƐƚĞƌĞĚ ǁŝƚŚƚŚĞ^ĞĐƵƌŝƚŝĞƐĂŶĚ
ǆĐŚĂŶŐĞŽŵŵŝƐƐŝŽŶĂŶĚŝƐŶŽƚƌĂƚĞĚ͘
/ŶǀĞƐƚŵĞŶƚŝŶ^ƚĂƚĞ/ŶǀĞƐƚŵĞŶƚWŽŽů
dŚĞŝƚǇŝƐĂǀŽůƵŶƚĂƌǇƉĂƌƚŝĐŝƉĂŶƚŝŶƚŚĞ>ŽĐĂůŐĞŶĐǇ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚ;>/&ͿƚŚĂƚŝƐƌĞŐƵůĂƚĞĚďǇƚŚĞĂůŝĨŽƌŶŝĂ 'ŽǀĞƌŶŵĞŶƚŽĚĞƵŶĚĞƌƚŚĞŽǀĞƌƐŝŐŚƚŽĨƚŚĞdƌĞĂƐƵƌĞƌŽĨƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘dŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞŝƚǇ͛Ɛ ŝŶǀĞƐƚŵĞŶƚŝŶƚŚŝƐƉŽŽůŝƐƌĞƉŽƌƚĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƚĂŵŽƵŶƚƐďĂƐĞĚƵƉŽŶƚŚĞŝƚǇ͛Ɛ ƉƌŽͲƌĂƚĂƐŚĂƌĞŽĨƚŚĞĨĂŝƌǀĂůƵĞƉƌŽǀŝĚĞĚďǇ>/&ĨŽƌƚŚĞĞŶƚŝƌĞ>/&ƉŽƌƚĨŽůŝŽ;ŝŶƌĞůĂƚŝŽŶƐƚŽƚŚĞĂŵŽƌƚŝǌĞĚĐŽƐƚ ŽĨƚŚĂƚƉŽƌƚĨŽůŝŽͿ͘dŚĞďĂůĂŶĐĞĂǀĂŝůĂďůĞĨŽƌǁŝƚŚĚƌĂǁĂůŝƐďĂƐĞĚŽŶƚŚĞĂĐĐŽƵŶƚŝŶŐƌĞĐŽƌĚƐŵĂŝŶƚĂŝŶĞĚďǇ>/&͕ ǁŚŝĐŚĂƌĞƌĞĐŽƌĚĞĚŽŶĂŶĂŵŽƌƚŝǌĞĚĐŽƐƚďĂƐŝƐ͘ĞƉŽƐŝƚƐĂŶĚǁŝƚŚĚƌĂǁĂůƐĂƌĞŵĂĚĞŽŶƚŚĞďĂƐŝƐŽĨΨϭĂŶĚŶŽƚ ĨĂŝƌǀĂůƵĞ͘ĐĐŽƌĚŝŶŐůǇ͕ƚŚĞŝƚǇ͛ƐŵĞĂƐƵƌĞŵĞŶƚŽĨĨĂŝƌǀĂůƵĞŽĨŝƚƐŝŶǀĞƐƚŵĞŶƚǁŝƚŚ>/&ŝƐďĂƐĞĚŽŶ ƵŶĐĂƚĞŐŽƌŝǌĞĚŝŶƉƵƚƐ͕ŶŽƚĚĞĨŝŶĞĚĂƐĂůĞǀĞůϭ͕ůĞǀĞůϮ͕ŽƌůĞǀĞůϯŝŶƉƵƚ͘>/&ŝƐŶŽƚƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞ^ĞĐƵƌŝƚŝĞƐ ĂŶĚ
ǆĐŚĂŶŐĞŽŵŵŝƐƐŝŽŶĂŶĚŝƐŶŽƚƌĂƚĞĚ͘
/ŶǀĞƐƚŵĞŶƚŝŶĂůŝĨŽƌŶŝĂƐƐĞƚDĂŶĂŐĞŵĞŶƚWƌŽŐƌĂŵ
dŚĞŝƚǇŝƐĂǀŽůƵŶƚĂƌǇƉĂƌƚŝĐŝƉĂŶƚŝŶƚŚĞĂůŝĨŽƌŶŝĂƐƐĞƚDĂŶĂŐĞŵĞŶƚWƌŽŐƌĂŵ;DWͿƚŚĂƚŝƐƌĞŐƵůĂƚĞĚďǇƚŚĞ ĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞ^ĞĐƚŝŽŶϱϯϲϬϭ;ƉͿĂŶĚŵĂŶĂŐĞĚďǇĂŽĂƌĚŽĨdƌƵƐƚĞĞƐĐŽŵƉƌŝƐĞĚŽĨĨŝŶĂŶĐĞ ĚŝƌĞĐƚŽƌƐĂŶĚƚƌĞĂƐƵƌĞƌƐŽĨĂůŝĨŽƌŶŝĂƉƵďůŝĐĂŐĞŶĐŝĞƐƚŚĂƚĂƌĞŵĞŵďĞƌƐŽĨƚŚĞ:ŽŝŶƚWŽǁĞƌƐƵƚŚŽƌŝƚǇ͘dŚĞŝƚǇ͛Ɛ ŝŶǀĞƐƚŵĞŶƚŝŶƚŚŝƐƉŽŽůŝƐƌĞƉŽƌƚĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨŶĞƚƉŽƐŝƚŝŽŶĂŶĚƉƌĞƉĂƌĞĚƵƐŝŶŐ ƚŚĞĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐ͘/ŶǀĞƐƚŵĞŶƚƐĂƌĞƌĞƉŽƌƚĞĚĂƚĨĂŝƌǀĂůƵĞ͘dŚĞďĂůĂŶĐĞĂǀĂŝůĂďůĞĨŽƌǁŝƚŚĚƌĂǁĂůŝƐ ďĂƐĞĚŽŶƚŚĞĂĐĐŽƵŶƚŝŶŐƌĞĐŽƌĚƐŵĂŝŶƚĂŝŶĞĚďǇDW͘DWŝƐŶŽƚƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞ^ĞĐƵƌŝƚŝĞƐĂŶĚ ǆĐŚĂŶŐĞ
ŽŵŵŝƐƐŝŽŶ͘
400 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϴ
&ĂŝƌsĂůƵĞDĞĂƐƵƌĞŵĞŶƚƐ
dŚĞŝƚǇĐĂƚĞŐŽƌŝǌĞƐŝƚƐĨĂŝƌǀĂůƵĞŵĞĂƐƵƌĞŵĞŶƚƐǁŝƚŚŝŶƚŚĞĨĂŝƌǀĂůƵĞŚŝĞƌĂƌĐŚǇĞƐƚĂďůŝƐŚĞĚďǇŐĞŶĞƌĂůůǇ ĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐ͘dŚĞŚŝĞƌĂƌĐŚǇŝƐďĂƐĞĚŽŶƚŚĞǀĂůƵĂƚŝŽŶŝŶƉƵƚƐƵƐĞĚƚŽŵĞĂƐƵƌĞƚŚĞĨĂŝƌǀĂůƵĞŽĨ ƚŚĞĂƐƐĞƚ͘>ĞǀĞůϭŝŶƉƵƚƐĂƌĞƋƵŽƚĞĚƉƌŝĐĞƐŝŶĂĐƚŝǀĞŵĂƌŬĞƚƐĨŽƌŝĚĞŶƚŝĐĂůĂƐƐĞƚƐ͖>ĞǀĞůϮŝŶƉƵƚƐĂƌĞƐŝŐŶŝĨŝĐĂŶƚ ŽƚŚĞƌŽďƐĞƌǀĂďůĞŝŶƉƵƚƐ͖>ĞǀĞůϯŝŶƉƵƚƐĂƌĞƐŝŐŶŝĨŝĐĂŶƚƵŶŽďƐĞƌǀĂďůĞŝŶƉƵƚƐ͘/ŶǀĞƐƚŵĞŶƚƐĐĂƚĞŐŽƌŝǌĞĚĂƐ>ĞǀĞůϮ ĂƌĞǀĂůƵĞĚƵƐŝŶŐƚŚĞŵĂƌŬĞƚĂƉƉƌŽĂĐŚĂŶĚƋƵŽƚĞĚŵĂƌŬĞƚƉƌŝĐĞƐ͘ dŚĞŝƚǇŚĂƐƚŚĞĨŽůůŽǁŝŶŐƌĞĐƵƌƌŝŶŐĨĂŝƌǀĂůƵĞŵĞĂƐƵƌĞŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͗ dŽƚĂů >ĞǀĞůϭ >ĞǀĞůϮ
/ŶǀĞƐƚŵĞŶƚƐ
h͘^͘dƌĞĂƐƵƌǇEŽƚĞƐ ΨϭϬ͕ϬϬϬ͕ϴϵϱ ΨϭϬ͕ϬϬϬ͕ϴϵϱ ΨͲ &ĞĚĞƌĂůŐĞŶĐǇ^ĞĐƵƌŝƚŝĞƐ ϮϮ͕ϭϴϯ͕ϲϰϵ Ͳ ϮϮ͕ϭϴϯ͕ϲϰϵ ŽƌƉŽƌĂƚĞEŽƚĞƐ Ϯ͕ϵϰϬ͕ϵϴϰ Ͳ Ϯ͕ϵϰϬ͕ϵϴϰ ĞƌƚŝĨŝĐĂƚĞƐŽĨĞƉŽƐŝƚ ϯϮ͕ϳϰϲ͕ϰϱϬ Ͳ ϯϮ͕ϳϰϲ͕ϰϱϬ ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ

ƋƵŝƚǇDƵƚƵĂů&ƵŶĚƐ ϯ͕ϲϳϳ͕ϭϮϵ ϯ͕ϲϳϳ͕ϭϮϵ Ͳ &ŝǆĞĚ/ŶĐŽŵĞDƵƚƵĂů&ƵŶĚƐ ϳ͕ϱϱϯ͕ϰϮϬ ϳ͕ϱϱϯ͕ϰϮϬ Ͳ dŽƚĂůůĞǀĞůĞĚŝŶǀĞƐƚŵĞŶƚƐ ϳϵ͕ϭϬϮ͕ϱϮϳ ϭϯ͕ϲϳϴ͕ϬϮϰ Ψ ϱϳ͕ϴϳϭ͕Ϭϴϯ Ψ /ŶǀĞƐƚŵĞŶƚƐǁŝƚŚƵŶĐĂƚĞŐŽƌŝǌĞĚŝŶƉƵƚƐ
>ŽĐĂůŐĞŶĐǇ/ŶǀĞƐƚŵĞŶƚ&ƵŶĚ ϳϳ͕ϱϭϳ͕Ϭϲϲ
DW ϭϯ͕ϴϱϰ͕ϰϰϭ
ZŝǀĞƌƐŝĚĞŽƵŶƚǇWŽŽů ϭϭ͕ϰϮϯ͕ϵϯϭ
,ĞůĚďǇ&ŝƐĐĂůŐĞŶƚ
DŽŶĞǇDĂƌŬĞƚDƵƚƵĂů&ƵŶĚƐ ϭ͕ϰϮϭ
dŽƚĂůŝŶǀĞƐƚŵĞŶƚƐ Ψϭϴϭ͕ϴϵϵ͕ϯϴϲ
EŽƚĞϯͲ EŽƚĞƐZĞĐĞŝǀĂďůĞ
/Ŷ^ĞƉƚĞŵďĞƌϭϵϵϰ͕ƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇƐŽůĚĐĞƌƚĂŝŶƌĞĂůƉƌŽƉĞƌƚǇƚŽ>/E,ŽƵƐŝŶŐĨŽƌ ΨϮ͕ϭϭϮ͕ϴϰϳ͘dŚĞƉƌŽƉĞƌƚǇǁĂƐƵƐĞĚƚŽĐŽŶƐƚƌƵĐƚƐŝŶŐůĞͲĨĂŵŝůǇŚŽŵĞƐĂŶĚƌĞŶƚĂůƵŶŝƚƐƚŽŝŶĐƌĞĂƐĞƚŚĞŝƚǇΖƐ ƐƵƉƉůǇŽĨůŽǁĂŶĚŵŽĚĞƌĂƚĞŝŶĐŽŵĞŚŽƵƐŝŶŐ͘dŚĞŶŽƚĞďĞĂƌƐŝŶƚĞƌĞƐƚĂƚϲƉĞƌĐĞŶƚƉĞƌĂŶŶƵŵĂŶĚŝƐĚƵĞŝŶĨƵůů ŽŶ:ƵŶĞϭϱ͕ϮϬϮϵ͘KŶ&ĞďƌƵĂƌǇϭ͕ϮϬϭϮ͕ƚŚŝƐƌĞĐĞŝǀĂďůĞǁĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ͕ǁŚŝĐŚƚŽŽŬ ŽǀĞƌƚŚĞŚŽƵƐŝŶŐĨƵŶĐƚŝŽŶŽĨƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇƵƉŽŶĚŝƐƐŽůƵƚŝŽŶ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞ ŽƵƚƐƚĂŶĚŝŶŐƉƌŝŶĐŝƉĂůďĂůĂŶĐĞŝƐΨϮ͕Ϭϯϱ͕ϯϴϴĂŶĚƚŚĞŽƵƚƐƚĂŶĚŝŶŐŝŶƚĞƌĞƐƚŝƐΨϯ͕ϭϯϮ͕ϮϴϮ͘ /Ŷ&ĞďƌƵĂƌǇϮϬϭϭ͕ƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇĞŶƚĞƌĞĚŝŶƚŽŝƐƉŽƐŝƚŝŽŶĂŶĚĞǀĞůŽƉŵĞŶƚŐƌĞĞŵĞŶƚǁŝƚŚ ŽƌĂůDŽƵŶƚĂŝŶWĂƌƚŶĞƌƐ>͘W͘;͞ŽƌĂůDŽƵŶƚĂŝŶ͟ͿƚŽĨƵŶĚƵƉƚŽΨϮϵ͕ϬϬϬ͕ϬϬϬĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨĂůŽǁĂŶĚ ŵŽĚĞƌĂƚĞŝŶĐŽŵĞĂƉĂƌƚŵĞŶƚĐŽŵƉůĞǆǁŝƚŚĂŶĞƐƚŝŵĂƚĞĚĐŽŵƉůĞƚŝŽŶĚĂƚĞŽĨƚŚĞĂƉĂƌƚŵĞŶƚĐŽŵƉůĞǆŽĨDĂƌĐŚ ϮϬϭϰ͘dŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇ͛ƐΨϮϵ͕ϬϬϬ͕ϬϬϬůŽĂŶŝƐĞǀŝĚĞŶĐĞĚďǇĂWƌŽŵŝƐƐŽƌǇEŽƚĞĞǆĞĐƵƚĞĚďǇ ŽƌĂůDŽƵŶƚĂŝŶ;͞EŽƚĞ͟Ϳ͘/ŶƚĞƌĞƐƚŽŶƚŚĞŽƵƚƐƚĂŶĚŝŶŐŶŽƚĞĂŵŽƵŶƚǁŝůůďĞĂƌƐŝŵƉůĞŝŶƚĞƌĞƐƚŽĨϭƉĞƌĐĞŶƚ͘ 401 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϰϵ
WƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚǁŝůůďĞƌĞƉĂŝĚŽŶŽƌďĞĨŽƌĞDĂǇϭƐƚŽĨĞĂĐŚǇĞĂƌĨƌŽŵĂŶŶƵĂůƌĞƐŝĚƵĂůƌĞĐĞŝƉƚƐĂƐĚĞĨŝŶĞĚ ŝŶƚŚĞEŽƚĞŽŶĐĞƚŚĞƉƌŽũĞĐƚŝƐĐŽŵƉůĞƚĞĚĂŶĚŵĂǇďĞƌĞƉĂŝĚĞĂƌůǇŝĨƚŚĞƉƌŽƉĞƌƚǇŝƐƌĞĨŝŶĂŶĐĞĚ͕ŽƌŝĨƚŚĞ ƉƌŽƉĞƌƚǇŝƐƚƌĂŶƐĨĞƌƌĞĚƚŽĂŶŽƚŚĞƌĞŶƚŝƚǇ͘KŶ&ĞďƌƵĂƌǇϭ͕ϮϬϭϮ͕ƚŚŝƐƌĞĐĞŝǀĂďůĞǁĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞ,ŽƵƐŝŶŐ ƵƚŚŽƌŝƚǇǁŚŝĐŚƚŽŽŬŽǀĞƌƚŚĞŚŽƵƐŝŶŐĨƵŶĐƚŝŽŶŽĨƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇƵƉŽŶĚŝƐƐŽůƵƚŝŽŶ͘ƐŽĨ :ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŽƵƚƐƚĂŶĚŝŶŐƉƌŝŶĐŝƉĂůďĂůĂŶĐĞŝƐΨϮϬ͕ϲϮϴ͕ϯϰϯĂŶĚƚŚĞŽƵƚƐƚĂŶĚŝŶŐŝŶƚĞƌĞƐƚďĂůĂŶĐĞŝƐ Ψϭ͕ϱϳϭ͕ϬϮϵ͘
KƚŚĞƌŶŽƚĞƐƌĞĐĞŝǀĂďůĞĂƐŽĨ&ĞďƌƵĂƌǇϭ͕ϮϬϭϮ͕ŝŶĐůƵĚĞĚŝŶƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇǁŚŝĐŚƚŽŽŬŽǀĞƌƚŚĞŚŽƵƐŝŶŐ ĨƵŶĐƚŝŽŶŽĨƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇƵƉŽŶĚŝƐƐŽůƵƚŝŽŶƚŽƚĂůĞĚΨϮϭ͕ϳϳϲĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͘ EŽƚĞϰͲ ĂƉŝƚĂůƐƐĞƚƐ
ĂƉŝƚĂůĂƐƐĞƚĂĐƚŝǀŝƚǇĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ŝƐĂƐĨŽůůŽǁƐ͗ ĂůĂŶĐĞĂƚ ĂůĂŶĐĞĂƚ
:ƵůǇϬϭ͕ϮϬϮϬ ĚĚŝƚŝŽŶƐ ĞůĞƚŝŽŶƐ dƌĂŶƐĨĞƌƐ :ƵŶĞϯϬ͕ϮϬϮϭ 'ŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ
ĂƉŝƚĂůĂƐƐĞƚƐ͕ŶŽƚďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ
>ĂŶĚ Ψϲϲ͕ϴϭϬ͕ϴϰϭ Ψ ϭ͕Ϯϰϵ͕Ϯϯϵ Ͳ Ψ Ψϭ͕ϯϯϵ͕ϴϵϯ ϲϲ͕ϵϬϭ͕ϰϵϱ ZŝŐŚƚŽĨǁĂǇ Ϯϴϱ͕ϴϱϳ͕ϯϱϯ Ͳ Ͳ Ϯϴϱ͕ϴϱϳ͕ϯϱϯ Ͳ ŽŶƐƚƌƵĐƚŝŽŶͲŝŶͲƉƌŽŐƌĞƐƐ Ϯϰ͕ϱϵϲ͕ϯϬϴ ϭϵ͕ϰϬϲ͕Ϭϲϳ Ϯϲϰ͕ϮϬϲ ;ϵ͕ϴϮϱ͕ϲϴϲͿ ϯϯ͕ϵϭϮ͕ϰϴϯ dŽƚĂůĐĂƉŝƚĂůĂƐƐĞƚƐ͕
ŶŽƚďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ ϯϳϳ͕Ϯϲϰ͕ϱϬϮ ϭϵ͕ϰϬϲ͕Ϭϲϳ ϭ͕ϱϭϯ͕ϰϰϱ ;ϴ͕ϰϴϱ͕ϳϵϯͿ ϯϴϲ͕ϲϳϭ͕ϯϯϭ ĂƉŝƚĂůĂƐƐĞƚƐ͕ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ
ƵŝůĚŝŶŐƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ ϳϰ͕ϱϬϭ͕ϯϲϴ Ͳ Ϯϯϵ͕Ϭϳϰ Ͳ ϳϰ͕ϳϰϬ͕ϰϰϮ

ƋƵŝƉŵĞŶƚĂŶĚĨƵƌŶŝƚƵƌĞ ϰ͕Ϯϱϭ͕ϲϰϮ ϯϬϭ͕ϵϬϵ ϵϯ͕ϴϭϴ ϰ͕ϰϱϵ͕ϳϯϯ Ͳ sĞŚŝĐůĞƐ ϭ͕ϳϬϳ͕ϰϭϰ ϭϬϱ͕ϲϮϴ ϲϱ͕ϱϭϮ ϭ͕ϳϰϳ͕ϱϯϬ Ͳ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ϮϮϳ͕ϴϵϭ͕ϭϱϵ Ͳ ϴ͕Ϯϰϲ͕ϳϭϵ Ͳ Ϯϯϲ͕ϭϯϳ͕ϴϳϴ dŽƚĂůĐĂƉŝƚĂůĂƐƐĞƚƐ͕
ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ ϯϬϴ͕ϯϱϭ͕ϱϴϯ ϰϬϳ͕ϱϯϳ ϭϱϵ͕ϯϯϬ ϴ͕ϰϴϱ͕ϳϵϯ ϯϭϳ͕Ϭϴϱ͕ϱϴϯ >ĞƐƐĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶĨŽƌ
ƵŝůĚŝŶŐƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ ϯϳ͕ϰϬϯ͕ϭϭϮ Ϯ͕ϱϱϱ͕ϳϭϯ Ͳ ϯϵ͕ϵϱϴ͕ϴϮϱ Ͳ

ƋƵŝƉŵĞŶƚĂŶĚĨƵƌŶŝƚƵƌĞ Ϯ͕ϲϲϭ͕Ϭϱϯ ϯϱϮ͕ϴϲϲ ϭϯϰ͕ϯϴϭ Ϯ͕ϴϳϵ͕ϱϯϴ Ͳ sĞŚŝĐůĞƐ ϵϵϭ͕ϳϬϰ ϭϳϳ͕ϳϯϬ ϯϵ͕ϱϱϮ ϭ͕ϭϮϵ͕ϴϴϮ Ͳ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ϭϯϰ͕ϳϴϮ͕ϳϵϰ ϱ͕ϴϬϮ͕ϲϵϴ Ͳ ϭϰϬ͕ϱϴϱ͕ϰϵϮ Ͳ dŽƚĂůĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶ ϭϳϱ͕ϴϯϴ͕ϲϲϯ ϴ͕ϴϴϵ͕ϬϬϳ ϭϳϯ͕ϵϯϯ ϭϴϰ͕ϱϱϯ͕ϳϯϳ Ͳ dŽƚĂůĐĂƉŝƚĂůĂƐƐĞƚƐ͕
ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ͕ŶĞƚ ϭϯϮ͕ϱϭϮ͕ϵϮϬ ;ϴ͕ϰϴϭ͕ϰϳϬͿ ;ϭϰ͕ϲϬϯͿ ϴ͕ϰϴϱ͕ϳϵϯ ϭϯϮ͕ϱϯϭ͕ϴϰϲ 'ŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐ
ĐĂƉŝƚĂůĂƐƐĞƚƐ͕ŶĞƚ ΨϱϬϵ͕ϳϳϳ͕ϰϮϮ ΨϭϬ͕ϵϮϰ͕ϱϵϳ Ψϭ͕ϰϵϴ͕ϴϰϮ Ψ ϱϭϵ͕ϮϬϯ͕ϭϳϳ Ͳ
402 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϬ
ĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞǁĂƐĐŚĂƌŐĞĚƚŽƚŚĞĨŽůůŽǁŝŶŐĨƵŶĐƚŝŽŶƐŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͗ 'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚƐ ΨϯϳϬ͕ϰϲϵ
WůĂŶŶŝŶŐΘĚĞǀĞůŽƉŵĞŶƚ Ϯϰ͕ϲϯϬ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϭ͕ϰϭϬ͕ϳϯϵ
WƵďůŝĐǁŽƌŬƐ ϲ͕ϭϮϭ͕ϵϯϱ
/ŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐ ϵϲϭ͕Ϯϯϰ
Ψϴ͕ϴϴϵ͕ϬϬϳ
ĂƉŝƚĂůĂƐƐĞƚĂĐƚŝǀŝƚǇĨŽƌďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ŝƐĂƐĨŽůůŽǁƐ͗ ĂůĂŶĐĞĂƚ ĂůĂŶĐĞĂƚ
:ƵůǇϬϭ͕ϮϬϮϬ ĚĚŝƚŝŽŶƐ ĞůĞƚŝŽŶƐ :ƵŶĞϯϬ͕ϮϬϮϭ
ƵƐŝŶĞƐƐͲdǇƉĞĂĐƚŝǀŝƚŝĞƐ
ĂƉŝƚĂůĂƐƐĞƚƐ͕ŶŽƚďĞŝŶŐ
ĚĞƉƌĞĐŝĂƚĞĚ
>ĂŶĚ Ψϯϵ͕ϳϭϮ͕ϵϱϱ ΨͲ Ψ ϯϵ͕ϳϭϮ͕ϵϱϱ Ͳ Ψ ĂƉŝƚĂůĂƐƐĞƚƐ͕ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ
ƵŝůĚŝŶŐƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ ϲ͕ϲϯϲ͕ϰϲϱ Ͳ ϲ͕ϲϯϲ͕ϰϲϱ Ͳ

ƋƵŝƉŵĞŶƚĂŶĚĨƵƌŶŝƚƵƌĞ ϭ͕ϲϮϭ͕ϳϮϯ Ͳ ϭ͕ϲϮϭ͕ϳϮϯ Ͳ ^ŽĨƚǁĂƌĞ ϮϬ͕Ϯϱϱ Ͳ ϮϬ͕Ϯϱϱ Ͳ dŽƚĂůĐĂƉŝƚĂůĂƐƐĞƚƐ͕
ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ ϴ͕Ϯϳϴ͕ϰϰϯ Ͳ ϴ͕Ϯϳϴ͕ϰϰϯ Ͳ >ĞƐƐĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶĨŽƌ
ƵŝůĚŝŶŐƐĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ ϯ͕ϱϬϴ͕ϳϯϮ Ϯϭϰ͕ϱϰϱ ϯ͕ϳϮϯ͕Ϯϳϳ Ͳ

ƋƵŝƉŵĞŶƚĂŶĚĨƵƌŶŝƚƵƌĞ ϭ͕ϰϳϬ͕ϱϯϲ ϱϵ͕ϰϭϲ ϭ͕ϱϮϵ͕ϵϱϮ Ͳ ^ŽĨƚǁĂƌĞ ϮϬ͕Ϯϱϱ Ͳ ϮϬ͕Ϯϱϱ Ͳ dŽƚĂůĂĐĐƵŵƵůĂƚĞĚ
ĚĞƉƌĞĐŝĂƚŝŽŶ ϰ͕ϵϵϵ͕ϱϮϯ Ϯϳϯ͕ϵϲϭ ϱ͕Ϯϳϯ͕ϰϴϰ Ͳ dŽƚĂůĐĂƉŝƚĂůĂƐƐĞƚƐ͕
ďĞŝŶŐĚĞƉƌĞĐŝĂƚĞĚ͕ŶĞƚ ϯ͕Ϯϳϴ͕ϵϮϬ ;Ϯϳϯ͕ϵϲϭͿ ϯ͕ϬϬϰ͕ϵϱϵ Ͳ ƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ
ĐĂƉŝƚĂůĂƐƐĞƚƐ͕ŶĞƚ ϰϮ͕ϵϵϭ͕ϴϳϱ Ψ Ψ;Ϯϳϯ͕ϵϲϭͿ Ψ ϰϮ͕ϳϭϳ͕ϵϭϰ Ͳ Ψ ĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞǁĂƐĐŚĂƌŐĞĚƚŽƚŚĞĨŽůůŽǁŝŶŐĨƵŶĐƚŝŽŶƐŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͗ 'ŽůĨŽƵƌƐĞ ΨϮϳϯ͕ϵϲϭ
403 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϭ
EŽƚĞϱͲ ŚĂŶŐĞƐŝŶ>ŽŶŐͲdĞƌŵ>ŝĂďŝůŝƚŝĞƐʹ'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐ ŚĂŶŐĞƐŝŶ>ŽŶŐͲdĞƌŵ>ŝĂďŝůŝƚŝĞƐ
dŚĞĨŽůůŽǁŝŶŐŝƐĂƐƵŵŵĂƌǇŽĨĐŚĂŶŐĞƐŝŶŐŽǀĞƌŶŵĞŶƚĂůůŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐŽĨƚŚĞŝƚǇĨŽƌƚŚĞĨŝƐĐĂůǇĞĂƌĞŶĚĞĚ :ƵŶĞϯϬ͕ϮϬϮϭ͗
ĂůĂŶĐĞĂƚ ĂůĂŶĐĞ ƵĞǁŝƚŚŝŶ
:ƵůǇϬϭ͕ϮϬϮϬ ĚĚŝƚŝŽŶƐ ĞůĞƚŝŽŶƐ :ƵŶĞϯϬ͕ϮϬϮϭ KŶĞǇĞĂƌ 'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐ
ŽŵƉĞŶƐĂƚĞĚĂďƐĞŶĐĞƐƉĂǇĂďůĞ ϴϴϴ͕ϰϵϭ Ψ Ψ ϵϱϬ͕ϯϬϵ Ψ ϴϴϴ͕ϰϵϭ Ψ ϵϱϬ͕ϯϬϵ Ψ ϮϱϮ͕ϯϮϮ ŽƉŝĞƌůĞĂƐĞƉĂǇĂďůĞ ϲϱ͕ϵϯϴ Ͳ Ϯϰ͕ϳϭϯ ϰϭ͕ϮϮϱ ϭϵ͕ϭϰϱ &ůĞĞƚǀĞŚŝĐůĞůĞĂƐĞ ϱϯϯ͕ϭϳϰ ϮϭϬ͕ϯϴϭ Ͳ ϯϮϮ͕ϳϵϯ ϭϴϮ͕Ϯϱϰ WƵďůŝĐǁŽƌŬƐďƵŝůĚŝŶŐůĞĂƐĞ ϰϱ͕Ϭϳϯ ϯϯ͕ϴϭϵ Ͳ ϭϭ͕Ϯϱϰ ϭϭ͕Ϯϱϰ /ŶƚĞůĞƐǇƐŽŶĞƉŚŽŶĞƐǇƐƚĞŵ ϭϭϳ͕ϲϬϱ ϯϯ͕ϲϬϮ Ͳ ϴϰ͕ϬϬϯ ϯϯ͕ϲϬϭ EĞƚKW
;ĂƐƐĞƚͿͬůŝĂďŝůŝƚǇ ;ϰϳ͕ϬϱϮͿ ϭϰϳ͕ϲϮϮ ϭϬϬ͕ϱϳϬ Ͳ Ͳ EĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ ϭϯ͕ϰϱϴ͕ϮϬϬ ϭ͕Ϭϰϰ͕ϭϭϭ ϭϰ͕ϱϬϮ͕ϯϭϭ Ͳ Ͳ Ψϭϱ͕Ϭϲϭ͕ϰϮϵ ΨϮ͕ϭϰϮ͕ϬϰϮ Ψϭ͕ϭϵϭ͕ϬϬϲ Ψϭϲ͕ϬϭϮ͕ϰϲϱ Ψ ϰϵϴ͕ϱϳϲ ŽŵƉĞŶƐĂƚĞĚĂďƐĞŶĐĞƐ͕ƚŚĞŶĞƚKW
ůŝĂďŝůŝƚǇ͕ĂŶĚƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇŚĂǀĞďĞĞŶƚǇƉŝĐĂůůǇůŝƋƵŝĚĂƚĞĚĨƌŽŵ ƚŚĞ'ĞŶĞƌĂů&ƵŶĚ͘ĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞŝƚǇ͛ƐŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇŝƐĚĞƚĂŝůĞĚĂƚEŽƚĞϴ͘ĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞŝƚǇ͛Ɛ ŶĞƚKW
;ĂƐƐĞƚͿͬůŝĂďŝůŝƚǇŝƐĚĞƚĂŝůĞĚĂƚEŽƚĞϭϬ͘
ŽƉŝĞƌ>ĞĂƐĞƐWĂǇĂďůĞ
/Ŷ:ƵŶĞϮϬϭϯ͕ƚŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂϱͲǇĞĂƌůĞĂƐĞĂŐƌĞĞŵĞŶƚĨŽƌƉŚŽƚŽĐŽƉŝĞƌƐĨŽƌΨϳϭ͕ϬϰϱŵĂƚƵƌŝŶŐŝŶŵŽŶƚŚůǇ ŝŶĐƌĞŵĞŶƚƐŽĨΨϭ͕ϰϱϲ͕ǁŝƚŚŝŶƚĞƌĞƐƚƉĂǇĂďůĞŵŽŶƚŚůǇĂƚϴ͘ϰϳƉĞƌĐĞŶƚ͘dŚŝƐůĞĂƐĞĂŐƌĞĞŵĞŶƚƋƵĂůŝĨŝĞƐĂƐĂĐĂƉŝƚĂů ůĞĂƐĞĨŽƌĂĐĐŽƵŶƚŝŶŐƉƵƌƉŽƐĞƐĂŶĚƚŚĞƌĞĨŽƌĞ͕ŚĂƐďĞĞŶƌĞĐŽƌĚĞĚĂƚƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĨƵƚƵƌĞŵŝŶŝŵƵŵ ůĞĂƐĞƉĂǇŵĞŶƚƐĂƚƚŚĞŝŶĐĞƉƚŝŽŶĚĂƚĞ͘
KŶƉƌŝůϭ͕ϮϬϭϱ͕ƚŚĞŝƚǇůĞĂƐĞĚĂŶĂĚĚŝƚŝŽŶĂůĐŽƉŝĞƌĨŽƌΨϵ͕ϬϬϬŵĂƚƵƌŝŶŐŝŶŵŽŶƚŚůǇŝŶĐƌĞŵĞŶƚƐŽĨΨϭ͕ϳϮϴ͕ǁŝƚŚ ŝŶƚĞƌĞƐƚƉĂǇĂďůĞŵŽŶƚŚůǇĂƚϴ͘ϰϳƉĞƌĐĞŶƚ͘
KŶ:ƵůǇϭ͕ϮϬϭϴ͕ƚŚĞŝƚǇůĞĂƐĞĚĂĚĚŝƚŝŽŶĂůĐŽƉŝĞƌƐĨŽƌΨϴϱ͕ϰϮϴŵĂƚƵƌŝŶŐŝŶŵŽŶƚŚůǇŝŶĐƌĞŵĞŶƚƐŽĨΨϭ͕ϳϵϰ͕ǁŝƚŚ ŝŶƚĞƌĞƐƚƉĂǇĂďůĞŵŽŶƚŚůǇĂƚϵ͘ϱƉĞƌĐĞŶƚ͘
404 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϮ
dŚĞŵŝŶŝŵƵŵĨƵƚƵƌĞůĞĂƐĞŽďůŝŐĂƚŝŽŶƐĂŶĚƚŚĞŶĞƚƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞůĞĂƐĞƉĂǇŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĂƌĞ ĂƐĨŽůůŽǁƐ͗
dŽƚĂů
Ψ ϮϮ͕ϮϬϴ
Ϯϭ͕ϱϮϴ
ϯ͕ϱϲϬ
ϰϳ͕Ϯϵϲ
>ĞƐƐĂŵŽƵŶƚƌĞƉƌĞƐĞŶƚŝŶŐŝŶƚĞƌĞƐƚ ;ϲ͕ϬϳϭͿ
KƵƚƐƚĂŶĚŝŶŐWƌŝŶĐŝƉĂů ϰϭ͕ϮϮϱ Ψ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
dŽƚĂůWĂǇŵĞŶƚƐ
&ůĞĞƚsĞŚŝĐůĞ>ĞĂƐĞ
/Ŷ:ĂŶƵĂƌǇŽĨϮϬϭϳƚŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂǀĞŚŝĐůĞůĞĂƐĞĂŐƌĞĞŵĞŶƚǁŝƚŚ ŶƚĞƌƉƌŝƐĞ&ůĞĞƚDĂŶĂŐĞŵĞŶƚǁŝƚŚƚŚĞ
ŐŽĂůŽĨƌĞƉůĂĐŝŶŐĂůůůŝŐŚƚĚƵƚǇǀĞŚŝĐůĞƐ͘WŽŽůǀĞŚŝĐůĞƐĂƌĞĂůƐŽŝŶĐůƵĚĞĚŝŶƚŚĞƌĞƉůĂĐĞŵĞŶƚƉƌŽŐƌĂŵĂŶĚĂƌĞ ƵƚŝůŝǌĞĚďǇŵƵůƚŝƉůĞĚĞƉĂƌƚŵĞŶƚƐ͘/ŶĨŝƐĐĂůǇĞĂƌϮϬϭϲͲϭϳ͕ϭϲǀĞŚŝĐůĞƐǁĞƌĞƌĞƉůĂĐĞĚǁŝƚŚĨŝǀĞͲǇĞĂƌůĞĂƐĞƐƌĂŶŐŝŶŐ ĨƌŽŵΨϮϮ͕ϰϱϯƚŽΨϯϱ͕ϱϳϴ͘/ŶĨŝƐĐĂůǇĞĂƌϮϬϭϳͲϭϴ͕ϭϭǀĞŚŝĐůĞƐǁĞƌĞƌĞƉůĂĐĞĚǁŝƚŚĨŝǀĞͲǇĞĂƌůĞĂƐĞƐƌĂŶŐŝŶŐĨƌŽŵ ΨϮϲ͕ϵϮϲƚŽΨϰϮ͕Ϯϯϯ͘/ŶĨŝƐĐĂůǇĞĂƌϮϬϭϴͲϭϵ͕ĂŶĂĚĚŝƚŝŽŶĂůƐŝǆǀĞŚŝĐůĞƐǁĞƌĞƌĞƉůĂĐĞĚǁŝƚŚĨŝǀĞͲǇĞĂƌůĞĂƐĞƐƌĂŶŐŝŶŐ ĨƌŽŵΨϮϮ͕ϰϲϬƚŽΨϯϱ͕ϭϬϯĨŽƌĂƚŽƚĂůŽĨϯϯǀĞŚŝĐůĞƐ͘/ŶĨŝƐĐĂůǇĞĂƌϮϬϭϵͲϮϬ͕ŽŶĞĂĚĚŝƚŝŽŶĂůǀĞŚŝĐůĞǁĂƐƌĞƉůĂĐĞĚ ǁŝƚŚĂĨŝǀĞͲǇĞĂƌůĞĂƐĞĨŽƌΨϮϴ͕ϭϳϮ͘dŚŝƐůĞĂƐĞĂŐƌĞĞŵĞŶƚƋƵĂůŝĨŝĞƐĂƐĂĐĂƉŝƚĂůůĞĂƐĞĨŽƌĂĐĐŽƵŶƚŝŶŐƉƵƌƉŽƐĞƐĂŶĚ ƚŚĞƌĞĨŽƌĞ͕ŚĂƐďĞĞŶƌĞĐŽƌĚĞĚĂƚƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĨƵƚƵƌĞŵŝŶŝŵƵŵůĞĂƐĞƉĂǇŵĞŶƚĂƚƚŚĞŝŶĐĞƉƚŝŽŶĚĂƚĞ͘ dŚĞŵŝŶŝŵƵŵĨƵƚƵƌĞůĞĂƐĞŽďůŝŐĂƚŝŽŶƐĂŶĚƚŚĞŶĞƚƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞůĞĂƐĞƉĂǇŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĂƌĞ ĂƐĨŽůůŽǁƐ͗
dŽƚĂů
Ψ ϭϴϮ͕Ϯϱϰ
ϭϭϱ͕ϯϵϯ
Ϯϱ͕ϭϰϲ
KƵƚƐƚĂŶĚŝŶŐWƌŝŶĐŝƉĂů Ψ ϯϮϮ͕ϳϵϯ
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
WƵďůŝĐtŽƌŬƐƵŝůĚŝŶŐ>ĞĂƐĞ
/Ŷ^ĞƉƚĞŵďĞƌŽĨϮϬϭϵ͕ƚŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂƚǁŽǇĞĂƌůĞĂƐĞĂŐƌĞĞŵĞŶƚǁŝƚŚWĂĐŝĨŝĐDŽďŝůĞ^ƚƌƵĐƚƵƌĞƐĨŽƌĂŶĞǁ ƉƵďůŝĐǁŽƌŬƐƚƌĂŝůĞƌǁŚŝůĞƚŚĞŽƌƉŽƌĂƚĞzĂƌĚŝŵƉƌŽǀĞŵĞŶƚƐĂƌĞƵŶĚĞƌǁĂǇ͘ƐƚŚŝƐƚŝŵĞƚŚĞWƵďůŝĐtŽƌŬƐ ŵĂŝŶƚĞŶĂŶĐĞƚƌĂŝůĞƌǁĂƐϯϮǇĞĂƌƐŽůĚĂŶĚŚĂĚĞǆĐĞĞĚĞĚŝƚƐƵƐĞĨƵůůŝĨĞ͘dŚĞŵŝŶŝŵƵŵĨƵƚƵƌĞůĞĂƐĞŽďůŝŐĂƚŝŽŶƐĂŶĚ ƚŚĞŶĞƚƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞůĞĂƐĞƉĂǇŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭĂƌĞĂƐĨŽůůŽǁƐ͗ dŽƚĂů
Ψ ϭϭ͕Ϯϱϰ
KƵƚƐƚĂŶĚŝŶŐWƌŝŶĐŝƉĂů ϭϭ͕Ϯϱϰ Ψ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
ϮϬϮϮ
405 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϯ
/ŶƚĞůĞƐǇƐŽŶĞWŚŽŶĞ^ǇƐƚĞŵ
/Ŷ:ĂŶƵĂƌǇϮϬϭϵ͕ƚŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂĨŝǀĞǇĞĂƌůĞĂƐĞĂŐƌĞĞŵĞŶƚǁŝƚŚ/ŶƚĞůĞǇƐŽŶĞĨŽƌĂŶĞǁƉŚŽŶĞƐǇƐƚĞŵƚŽ ƌĞƉůĂĐĞƚŚĞŝƚǇ͛ƐƵŶŝĨŝĞĚĐŽŵŵƵŶŝĐĂƚŝŽŶƐĂŶĚsŽ/WƉŚŽŶĞƐǇƐƚĞŵƐ͕ǁŚŝĐŚǁĂƐŝŶƐƚĂůůĞĚŝŶϮϬϬϳ͕ĂŶĚǁĂƐĂƚƚŚĞ ĞŶĚŽĨŝƚƐƐƵƉƉŽƌƚůŝĨĞĐǇĐůĞ͕ĂŶĚŝƚƐŚĂƌĚǁĂƌĞǁĂƐŶŽůŽŶŐĞƌƐƵƉƉŽƌƚĞĚ͘dŚĞŵŝŶŝŵƵŵĨƵƚƵƌĞůĞĂƐĞŽďůŝŐĂƚŝŽŶƐ ĂŶĚƚŚĞŶĞƚƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞůĞĂƐĞƉĂǇŵĞŶƚƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭĂƌĞĂƐĨŽůůŽǁƐ͗ dŽƚĂů
Ψ ϯϯ͕ϲϬϭ
ϯϯ͕ϲϬϭ
ϭϲ͕ϴϬϭ
KƵƚƐƚĂŶĚŝŶŐWƌŝŶĐŝƉĂů ϴϰ͕ϬϬϯ Ψ
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
EŽƚĞϲͲ /ŶƚĞƌĨƵŶĚZĞĐĞŝǀĂďůĞƐĂŶĚWĂǇĂďůĞƐ
dŚĞĐŽŵƉŽƐŝƚŝŽŶŽĨĐƵƌƌĞŶƚŝŶƚĞƌĨƵŶĚƌĞĐĞŝǀĂďůĞĂŶĚƉĂǇĂďůĞďĂůĂŶĐĞƐŝƐĂƐĨŽůůŽǁƐ͗ ,ŽƵƐŝŶŐ EŽŶͲDĂũŽƌ
ƵĞĨƌŽŵKƚŚĞƌ&ƵŶĚƐ ƵƚŚŽƌŝƚǇ&ƵŶĚ 'ŽǀĞƌŶŵĞŶƚĂů dŽƚĂů
'ĞŶĞƌĂů&ƵŶĚ ΨϮϲ͕ϳϳϳ Ψϯϳϰ͕ϴϵϮ Ψ ϰϬϭ͕ϲϲϵ ƵĞƚŽKƚŚĞƌ&ƵŶĚƐ
/ŶƚĞƌĨƵŶĚďĂůĂŶĐĞƐƌĞĨůĞĐƚƐŚŽƌƚƚĞƌŵďŽƌƌŽǁŝŶŐƐĨŽƌĚĞĨŝĐŝƚĐĂƐŚďĂůĂŶĐĞƐĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͘ EŽƚĞϳͲ /ŶƚĞƌĨƵŶĚdƌĂŶƐĨĞƌƐ
,ŽƵƐŝŶŐ EŽŶͲDĂũŽƌ /ŶƚĞƌŶĂů
dƌĂŶƐĨĞƌƐ/Ŷ 'ĞŶĞƌĂů&ƵŶĚ ƵƚŚŽƌŝƚǇ&ƵŶĚ 'ŽǀĞƌŶŵĞŶƚĂů ^ĞƌǀŝĐĞ&ƵŶĚ dŽƚĂů ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƐ&ƵŶĚ ϯ͕ϲϳϬ͕ϰϮϯ Ψ Ψ Ϯϳϴ͕ϬϲϮ Ψϰ͕ϵϯϵ͕ϳϵϲ Ψ ϴϳ͕ϵϴϲ Ψ ϴ͕ϵϳϲ͕Ϯϲϳ EŽŶͲŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ ϭ͕ϴϬϱ͕ϬϬϬ Ͳ Ͳ ϭ͕ϴϬϱ͕ϬϬϬ Ͳ 'ŽůĨŽƵƌƐĞ&ƵŶĚ ϴϳϱ͕ϬϬϬ Ͳ Ͳ ϴϳϱ͕ϬϬϬ Ͳ
dŽƚĂů Ψ ϲ͕ϯϱϬ͕ϰϮϯ Ψ Ϯϳϴ͕ϬϲϮ Ψϰ͕ϵϯϵ͕ϳϵϲ Ψ ϴϳ͕ϵϴϲ Ψϭϭ͕ϲϱϲ͕Ϯϲϳ dƌĂŶƐĨĞƌKƵƚ
Ă͘ Ψϯ͕ϲϳϬ͕ϰϮϯǁĂƐƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚƚŽƚŚĞĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚƚŽĨƵŶĚǀĂƌŝŽƵƐĐĂƉŝƚĂů ƉƌŽũĞĐƚƐ͘
ď͘ ΨϮϳϴ͕ϬϲϮǁĂƐƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵƚŚĞ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ&ƵŶĚƚŽƚŚĞĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚƚŽĨƵŶĚǀĂƌŝŽƵƐ ĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͘
Đ͘ Ψϰ͕ϵϯϵ͕ϳϵϲǁĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚĨƌŽŵǀĂƌŝŽƵƐŶŽŶͲŵĂũŽƌĨƵŶĚƐƚŽƐƵƉƉŽƌƚĐĂƉŝƚĂů ƉƌŽũĞĐƚŽƉĞƌĂƚŝŽŶƐĂŶĚĞǆƉĞŶƐĞƐ͘
Ě͘ Ψϴϳ͕ϵϴϲǁĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚĨƌŽŵƚŚĞ/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐƚŽƐƵƉƉŽƌƚǀĂƌŝŽƵƐ ĐĂƉŝƚĂůƉƌŽũĞĐƚƐĂŶĚƉƌĞǀĞŶƚĂƚŝǀĞŵĂŝŶƚĞŶĂŶĐĞ͘
Ğ͘ Ψϭ͕ϴϬϱ͕ϬϬϬǁĂƐƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚƚŽǀĂƌŝŽƵƐŶŽŶͲŵĂũŽƌĨƵŶĚƐƚŽƐƵƉƉŽƌƚǀĂƌŝŽƵƐĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ŽƉĞƌĂƚŝŽŶƐĂŶĚĞǆƉĞŶƐĞƐǁŝƚŚŝŶƚŚĞŝƚǇ͘
Ĩ͘ Ψϴϳϱ͕ϬϬϬǁĂƐƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚƚŽƚŚĞ'ŽůĨŽƵƌƐĞ&ƵŶĚƚŽƐƵďƐŝĚŝǌĞŽƉĞƌĂƚŝŽŶƐ͘ 406 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϰ
EŽƚĞϴͲ ĞĨŝŶĞĚĞŶĞĨŝƚWĞŶƐŝŽŶWůĂŶ
DŝƐĐĞůůĂŶĞŽƵƐWůĂŶ
WůĂŶĞƐĐƌŝƉƚŝŽŶ
ůůƋƵĂůŝĨŝĞĚĞŵƉůŽǇĞĞƐĂƌĞĞůŝŐŝďůĞƚŽƉĂƌƚŝĐŝƉĂƚĞŝŶƚŚĞŝƚǇ͛ƐDŝƐĐĞůůĂŶĞŽƵƐ ŵƉůŽǇĞĞWĞŶƐŝŽŶWůĂŶ͕ĂĐŽƐƚͲ
ƐŚĂƌŝŶŐŵƵůƚŝƉůĞͲĞŵƉůŽǇĞƌĚĞĨŝŶĞĚďĞŶĞĨŝƚƉĞŶƐŝŽŶƉůĂŶƐĂĚŵŝŶŝƐƚĞƌĞĚďǇƚŚĞĂůŝĨŽƌŶŝĂWƵďůŝĐ ŵƉůŽǇĞĞƐ͛
ZĞƚŝƌĞŵĞŶƚ^ǇƐƚĞŵ;ĂůW
Z^Ϳ͘ĞŶĞĨŝƚƉƌŽǀŝƐŝŽŶƐƵŶĚĞƌƚŚĞƐĞƉůĂŶƐĂƌĞĞƐƚĂďůŝƐŚĞĚďǇ^ƚĂƚĞƐƚĂƚƵƚĞĂŶĚŝƚǇ ƌĞƐŽůƵƚŝŽŶ͘ĂůW
Z^ŝƐƐƵĞƐƉƵďůŝĐůǇĂǀĂŝůĂďůĞƌĞƉŽƌƚƐƚŚĂƚŝŶĐůƵĚĞĂĨƵůůĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞƉĞŶƐŝŽŶƉůĂŶƐƌĞŐĂƌĚŝŶŐ ďĞŶĞĨŝƚƉƌŽǀŝƐŝŽŶ͕ĂƐƐƵŵƉƚŝŽŶĂŶĚŵĞŵďĞƌƐŚŝƉŝŶĨŽƌŵĂƚŝŽŶ͘ŽƉŝĞƐŽĨƚŚĞƌĞƉŽƌƚĐĂŶďĞĨŽƵŶĚŽŶƚŚĞĂůW Z^
ǁĞďƐŝƚĞ͘
ĞŶĞĨŝƚƐWƌŽǀŝĚĞĚ
ĂůW
Z^ƉƌŽǀŝĚĞƐƐĞƌǀŝĐĞƌĞƚŝƌĞŵĞŶƚĂŶĚĚŝƐĂďŝůŝƚǇďĞŶĞĨŝƚƐ͕ĂŶŶƵĂůĐŽƐƚŽĨůŝǀŝŶŐĂĚũƵƐƚŵĞŶƚƐĂŶĚĚĞĂƚŚďĞŶĞĨŝƚƐ ƚŽƉůĂŶŵĞŵďĞƌƐ͕ǁŚŽŵƵƐƚďĞƉƵďůŝĐĞŵƉůŽǇĞĞƐĂŶĚďĞŶĞĨŝĐŝĂƌŝĞƐ͘ĞŶĞĨŝƚƐĂƌĞďĂƐĞĚŽŶǇĞĂƌƐŽĨĐƌĞĚŝƚĞĚ ƐĞƌǀŝĐĞ͕ĞƋƵĂůƚŽŽŶĞǇĞĂƌŽĨĨƵůůƚŝŵĞĞŵƉůŽǇŵĞŶƚ͘DĞŵďĞƌƐǁŝƚŚĨŝǀĞǇĞĂƌƐŽĨƚŽƚĂůƐĞƌǀŝĐĞĂƌĞĞůŝŐŝďůĞƚŽƌĞƚŝƌĞ ĂƚĂŐĞϱϬǁŝƚŚƐƚĂƚƵƚŽƌŝůǇƌĞĚƵĐĞĚďĞŶĞĨŝƚƐ͘ůůŵĞŵďĞƌƐĂƌĞĞůŝŐŝďůĞĨŽƌŶŽŶͲĚƵƚǇĚŝƐĂďŝůŝƚǇďĞŶĞĨŝƚƐĂĨƚĞƌϭϬ ǇĞĂƌƐŽĨƐĞƌǀŝĐĞ͘dŚĞĚĞĂƚŚďĞŶĞĨŝƚŝƐŽŶĞŽĨƚŚĞĨŽůůŽǁŝŶŐ͗dŚĞĂƐŝĐĞĂƚŚĞŶĞĨŝƚ͕ƚŚĞϭϵϱϵ^ƵƌǀŝǀŽƌĞŶĞĨŝƚ͕Žƌ ƚŚĞKƉƚŝŽŶĂů^ĞƚƚůĞŵĞŶƚϮtĞĂƚŚĞŶĞĨŝƚ͘dŚĞĐŽƐƚŽĨůŝǀŝŶŐĂĚũƵƐƚŵĞŶƚƐĨŽƌĞĂĐŚƉůĂŶĂƌĞĂƉƉůŝĞĚĂƐƐƉĞĐŝĨŝĞĚ ďǇƚŚĞWƵďůŝĐ
ŵƉůŽǇĞĞƐ͛ZĞƚŝƌĞŵĞŶƚ>Ăǁ͘dŚĞWůĂŶ͛ƐƉƌŽǀŝƐŝŽŶƐĂŶĚďĞŶĞĨŝƚƐŝŶĞĨĨĞĐƚĂƚ:ƵŶĞϯϬ͕ϮϬϮϬĂƌĞ ƐƵŵŵĂƌŝǌĞĚĂƐĨŽůůŽǁƐ͗
dŝĞƌ/ dŝĞƌ// W
WZ
KŶĂŶĚĂĨƚĞƌ KŶĂŶĚĂĨƚĞƌ KŶĂŶĚĂĨƚĞƌ
,ŝƌĞĚĂƚĞ ĞĐĞŵďĞƌϭϲ͕ϭϵϴϯ ĞĐĞŵďĞƌϭϳ͕ϮϬϭϮ :ĂŶƵĂƌǇϭ͕ϮϬϭϯ ĞŶĞĨŝƚĨŽƌŵƵůĂ Ϯ͘ϱйΛϱϱ ϮйΛϲϬ ϮйΛϲϮ
ĞŶĞĨŝƚǀĞƐƚŝŶŐƐĐŚĞĚƵůĞ ϱǇĞĂƌƐƐĞƌǀŝĐĞ ϱǇĞĂƌƐƐĞƌǀŝĐĞ ϱǇĞĂƌƐƐĞƌǀŝĐĞ ĞŶĞĨŝƚƉĂǇŵĞŶƚƐ ŵŽŶƚŚůǇĨŽƌůŝĨĞ ŵŽŶƚŚůǇĨŽƌůŝĨĞ ŵŽŶƚŚůǇĨŽƌůŝĨĞ ZĞƚŝƌĞŵĞŶƚĂŐĞ ϱϬĂŶĚƵƉ ϱϬĂŶĚƵƉ ϱϮĂŶĚƵƉ
DŽŶƚŚůǇďĞŶĞĨŝƚƐ͕ĂƐĂйŽĨĞůŝŐŝďůĞ
ĐŽŵƉĞŶƐĂƚŝŽŶ ϮйƚŽϮ͘ϱй ϮйƚŽϮ͘ϱй ϭйƚŽϮй
ZĞƋƵŝƌĞĚĞŵƉůŽǇĞĞĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐ ϴ͘ϬϬй ϳ͘ϬϬй ϲ͘Ϯϱй ZĞƋƵŝƌĞĚĞŵƉůŽǇĞƌĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐ ϭϮ͘ϯϲϭй ϴ͘ϳϵϰй ϳ͘ϳϯϮй ŽŶƚƌŝďƵƚŝŽŶƐ
^ĞĐƚŝŽŶϮϬϴϭϰ;ĐͿŽĨƚŚĞĂůŝĨŽƌŶŝĂWƵďůŝĐ
ŵƉůŽǇĞĞƐ͛ZĞƚŝƌĞŵĞŶƚ>Ăǁ;W
Z>ͿƌĞƋƵŝƌĞƐƚŚĂƚƚŚĞĞŵƉůŽǇĞƌ
ĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐĨŽƌĂůůƉƵďůŝĐĞŵƉůŽǇĞƌƐďĞĚĞƚĞƌŵŝŶĞĚŽŶĂŶĂŶŶƵĂůďĂƐŝƐďǇƚŚĞĂĐƚƵĂƌǇĂŶĚƐŚĂůůďĞ ĞĨĨĞĐƚŝǀĞŽŶƚŚĞ:ƵůǇϭĨŽůůŽǁŝŶŐŶŽƚŝĐĞŽĨĂĐŚĂŶŐĞŝŶƚŚĞƌĂƚĞ͘&ƵŶĚŝŶŐĐŽŶƚƌŝďƵƚŝŽŶƐĂƌĞĚĞƚĞƌŵŝŶĞĚĂŶŶƵĂůůǇ ŽŶĂŶĂĐƚƵĂƌŝĂůďĂƐŝƐĂƐŽĨ:ƵŶĞϯϬƚŚďǇĂůW
Z^͘dŚĞĂĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚƌĂƚĞŝƐƚŚĞĞƐƚŝŵĂƚĞĚĂŵŽƵŶƚ ŶĞĐĞƐƐĂƌǇƚŽĨŝŶĂŶĐĞƚŚĞĐŽƐƚƐŽĨďĞŶĞĨŝƚƐĞĂƌŶĞĚďǇĞŵƉůŽǇĞĞƐĚƵƌŝŶŐƚŚĞǇĞĂƌ͕ĂŶĚĂŶǇƵŶĨƵŶĚĞĚĂĐĐƌƵĞĚ ůŝĂďŝůŝƚǇ͘dŚĞĞŵƉůŽǇĞƌŝƐƌĞƋƵŝƌĞĚƚŽĐŽŶƚƌŝďƵƚĞƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĂĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚƌĂƚĞĂŶĚƚŚĞ ĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞŽĨĞŵƉůŽǇĞĞƐ͘
ŵƉůŽǇĞƌĐŽŶƚƌŝďƵƚŝŽŶƐƚŽƚŚĞƉĞŶƐŝŽŶƉůĂŶǁĞƌĞΨϮ͕ϱϴϭ͕ϭϱϴĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚ :ƵŶĞϯϬ͕ϮϬϮϭ͘
407 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϱ
WĞŶƐŝŽŶ>ŝĂďŝůŝƚŝĞƐ͕WĞŶƐŝŽŶ
ǆƉĞŶƐĞĂŶĚĞĨĞƌƌĞĚKƵƚĨůŽǁƐĂŶĚĞĨĞƌƌĞĚ/ŶĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐZĞůĂƚĞĚƚŽ WĞŶƐŝŽŶƐ
ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇƌĞƉŽƌƚĞĚĂůŝĂďŝůŝƚǇŽĨΨϭϰ͕ϱϬϮ͕ϯϭϭĨŽƌŝƚƐƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞĐŽůůĞĐƚŝǀĞŶĞƚ ƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͘dŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁĂƐŵĞĂƐƵƌĞĚĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϬ͕ĂŶĚƚŚĞƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇƵƐĞĚ ƚŽĐĂůĐƵůĂƚĞƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁĂƐĚĞƚĞƌŵŝŶĞĚďǇĂŶĂĐƚƵĂƌŝĂůǀĂůƵĂƚŝŽŶĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϭϵ͘dŚĞŝƚǇ͛Ɛ ƉƌŽƉŽƌƚŝŽŶŽĨƚŚĞĐŽůůĞĐƚŝǀĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁĂƐďĂƐĞĚŽŶĂƉƌŽũĞĐƚŝŽŶŽĨƚŚĞŝƚǇ͛ƐůŽŶŐͲƚĞƌŵƐŚĂƌĞŽĨ ĐŽŶƚƌŝďƵƚŝŽŶƐƚŽƚŚĞƉĞŶƐŝŽŶƉůĂŶƌĞůĂƚŝǀĞƚŽƚŚĞƉƌŽũĞĐƚĞĚĐŽŶƚƌŝďƵƚŝŽŶƐŽĨĂůůƉĂƌƚŝĐŝƉĂƚŝŶŐĞŵƉůŽǇĞƌƐ͕ ĂĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚ͘dŚĞŝƚǇ͛ƐƉƌŽƉŽƌƚŝŽŶŽĨƚŚĞĐŽůůĞĐƚŝǀĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϭϵĂŶĚϮϬϮϬ ŝƐĂƐĨŽůůŽǁƐ͗
WƌŽƉŽƌƚŝŽŶͲ:ƵŶĞϯϬ͕ϮϬϭϵ й Ϭ͘ϭϯϭϯϰ
WƌŽƉŽƌƚŝŽŶͲ:ƵŶĞϯϬ͕ϮϬϮϬ й Ϭ͘ϭϯϯϮϵ
ŚĂŶŐĞͲ/ŶĐƌĞĂƐĞ;ĞĐƌĞĂƐĞͿ й Ϭ͘ϬϬϭϵϱ
&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇƌĞĐŽŐŶŝǌĞĚƉĞŶƐŝŽŶĞǆƉĞŶƐĞŽĨΨϮ͕ϯϭϬ͕ϴϳϰ͘ ƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇƌĞƉŽƌƚĞĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐĂŶĚĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐĂƐ ĨŽůůŽǁƐ͗
ĞĨĞƌƌĞĚKƵƚĨůŽǁƐ ĞĨĞƌƌĞĚ/ŶĨůŽǁƐ
ŽĨZĞƐŽƵƌĐĞƐ ŽĨZĞƐŽƵƌĐĞƐ
WĞŶƐŝŽŶĐŽŶƚƌŝďƵƚŝŽŶƐƐƵďƐĞƋƵĞŶƚƚŽŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ Ϯ͕ϱϴϭ͕ϭϱϴ Ψ Ͳ Ψ ŚĂŶŐĞƐŝŶĂƐƐƵŵƉƚŝŽŶƐ Ͳ ϭϬϯ͕ϰϯϲ
ŝĨĨĞƌĞŶĐĞƐďĞƚǁĞĞŶĞǆƉĞĐƚĞĚĂŶĚĂĐƚƵĂůĞǆƉĞƌŝĞŶĐĞ ϳϰϳ͕ϯϰϳ Ͳ EĞƚĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƉƌŽũĞĐƚĞĚĂŶĚĂĐƚƵĂůĞĂƌŶŝŶŐƐŽŶ ƉĞŶƐŝŽŶƉůĂŶŝŶǀĞƐƚŵĞŶƚƐ ϰϯϬ͕ϴϭϰ Ϯϴ͕ϱϬϴ
ŚĂŶŐĞŝŶĞŵƉůŽǇĞƌΖƐƉƌŽƉŽƌƚŝŽŶ ϯϮϬ͕ϳϲϭ Ͳ
ŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĐŝƚǇΖƐĐŽŶƚƌŝďƵƚŝŽŶĂŶĚ
ƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨĐŽŶƚƌŝďƵƚŝŽŶƐ Ͳ ϯϵϵ͕ϰϱϱ
dŽƚĂů Ψ ϰ͕ϬϴϬ͕ϬϴϬ Ψ ϱϯϭ͕ϯϵϵ
dŚĞΨϮ͕ϱϴϭ͕ϭϱϴƌĞƉŽƌƚĞĚĂƐĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞƐƵůƚŝŶŐĨƌŽŵĐŽŶƚƌŝďƵƚŝŽŶƐƐƵďƐĞƋƵĞŶƚƚŽƚŚĞ ŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞǁŝůůďĞƌĞĐŽŐŶŝǌĞĚĂƐĂƌĞĚƵĐƚŝŽŶŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇŝŶƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϮ͘ KƚŚĞƌĂŵŽƵŶƚƐƌĞƉŽƌƚĞĚĂƐĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽƌĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶƐǁŝůůďĞ ƌĞĐŽŐŶŝǌĞĚĂƐƉĞŶƐŝŽŶĞǆƉĞŶƐĞĂƐĨŽůůŽǁƐ͗
Ψ ϲϯ͕ϭϳϱ
ϯϴϯ͕ϲϬϱ
ϯϭϰ͕ϭϭϮ
ϮϬϲ͕ϲϯϭ
dŽƚĂů Ψ ϵϲϳ͕ϱϮϯ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
ϮϬϮϱ
408 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϲ
ĐƚƵĂƌŝĂůDĞƚŚŽĚƐĂŶĚƐƐƵŵƉƚŝŽŶƐhƐĞĚƚŽĞƚĞƌŵŝŶĞdŽƚĂůWĞŶƐŝŽŶ>ŝĂďŝůŝƚǇ &ŽƌƚŚĞŵĞĂƐƵƌĞŵĞŶƚƉĞƌŝŽĚĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϬ;ƚŚĞŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞͿ͕ƚŚĞƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁĂƐ ĚĞƚĞƌŵŝŶĞĚďǇƌŽůůŝŶŐĨŽƌǁĂƌĚƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϵƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͘dŚĞƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇŝŶƚŚĞ:ƵŶĞϯϬ͕ ϮϬϭϵĂĐƚƵĂƌŝĂůǀĂůƵĂƚŝŽŶǁĂƐĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞĨŽůůŽǁŝŶŐĂĐƚƵĂƌŝĂůŵĞƚŚŽĚƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐ͗ sĂůƵĂƚŝŽŶĂƚĞ :ƵŶĞϯϬ͕ϮϬϭϵ
DĞĂƐƵƌĞŵĞŶƚĂƚĞ :ƵŶĞϯϬ͕ϮϬϮϬ
ĐƚƵĂƌŝĂůŽƐƚDĞƚŚŽĚ
ŶƚƌǇͲŐĞEŽƌŵĂůŽƐƚDĞƚŚŽĚ
ŝƐĐŽƵŶƚZĂƚĞ ϳ͘ϭϱй
/ŶĨůĂƚŝŽŶ Ϯ͘ϱϬй
WĂǇƌŽůů'ƌŽǁƚŚ ϯ͘ϬϬй
WƌŽũĞĐƚĞĚ^ĂůĂƌǇ/ŶĐƌĞĂƐĞ sĂƌŝĞƐďǇ
ŶƚƌǇŐĞĂŶĚ^ĞƌǀŝĐĞ
/ŶǀĞƐƚŵĞŶƚZĂƚĞŽĨZĞƚƵƌŶ ϳ͘ϭϱй
DŽƌƚĂůŝƚǇZĂƚĞdĂďůĞ ĞƌŝǀĞĚƵƐŝŶŐĂůW
Z^ΖDĞŵďĞƌƐŚŝƉĂƚĂĨŽƌĂůů&ƵŶĚ
DŝƐĐĞůůĂŶĞŽƵƐ
ŝƐĐŽƵŶƚZĂƚĞ
dŚĞĚŝƐĐŽƵŶƚƌĂƚĞƵƐĞĚƚŽŵĞĂƐƵƌĞƚŚĞƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁĂƐϳ͘ϭϱƉĞƌĐĞŶƚ͘dŚĞƉƌŽũĞĐƚŝŽŶŽĨĐĂƐŚĨůŽǁƐƵƐĞĚ ƚŽĚĞƚĞƌŵŝŶĞƚŚĞĚŝƐĐŽƵŶƚƌĂƚĞĂƐƐƵŵĞĚƚŚĂƚĞŵƉůŽǇĞĞĐŽŶƚƌŝďƵƚŝŽŶƐǁŝůůďĞŵĂĚĞĂƚƚŚĞĐƵƌƌĞŶƚĐŽŶƚƌŝďƵƚŝŽŶ ƌĂƚĞĂŶĚƚŚĂƚƚŚĞŝƚǇ͛ƐĐŽŶƚƌŝďƵƚŝŽŶƐǁŝůůďĞŵĂĚĞĂƚƌĂƚĞƐĞƋƵĂůƚŽƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶĂĐƚƵĂƌŝĂůůǇ ĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƐƌĂƚĞƐĂŶĚƚŚĞĞŵƉůŽǇĞĞƌĂƚĞ͘ĂƐĞĚŽŶƚŚŽƐĞĂƐƐƵŵƉƚŝŽŶƐ͕ĞĂĐŚƉĞŶƐŝŽŶƉůĂŶ͛Ɛ ĨŝĚƵĐŝĂƌǇŶĞƚƉŽƐŝƚŝŽŶǁĂƐƉƌŽũĞĐƚĞĚƚŽďĞĂǀĂŝůĂďůĞƚŽŵĂŬĞĂůůƉƌŽũĞĐƚĞĚĨƵƚƵƌĞďĞŶĞĨŝƚƉĂǇŵĞŶƚƐŽĨĐƵƌƌĞŶƚ ĂĐƚŝǀĞĂŶĚŝŶĂĐƚŝǀĞĞŵƉůŽǇĞĞƐ͘dŚĞƌĞĨŽƌĞ͕ƚŚĞůŽŶŐͲƚĞƌŵĞǆƉĞĐƚĞĚƌĂƚĞŽĨƌĞƚƵƌŶŽŶƉĞŶƐŝŽŶƉůĂŶŝŶǀĞƐƚŵĞŶƚƐ ǁĂƐĂƉƉůŝĞĚƚŽĂůůƉĞƌŝŽĚƐŽĨƉƌŽũĞĐƚĞĚďĞŶĞĨŝƚƉĂǇŵĞŶƚƐƚŽĚĞƚĞƌŵŝŶĞƚŚĞƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͘ /ŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞůŽŶŐͲƚĞƌŵĞǆƉĞĐƚĞĚƉĞƌĐĞŶƚƌĂƚĞŽĨƌĞƚƵƌŶŽŶƉĞŶƐŝŽŶƉůĂŶŝŶǀĞƐƚŵĞŶƚƐ͕ĂůW Z^ƚŽŽŬŝŶƚŽ
ĂĐĐŽƵŶƚďŽƚŚƐŚŽƌƚĂŶĚůŽŶŐͲƚĞƌŵŵĂƌŬĞƚƌĞƚƵƌŶĞǆƉĞĐƚĂƚŝŽŶƐĂƐǁĞůůĂƐƚŚĞĞǆƉĞĐƚĞĚƉĞŶƐŝŽŶĨƵŶĚĐĂƐŚĨůŽǁƐ͘ ĂƐĞĚŽŶƚŚĞĞǆƉĞĐƚĞĚďĞŶĞĨŝƚƉĂǇŵĞŶƚƐŽĨƚŚĞWƵďůŝĐ
ŵƉůŽǇĞĞƐ͛ZĞƚŝƌĞŵĞŶƚ&ƵŶĚ͕ĂůW
Z^ŝŶĚŝĐĂƚĞĚƚŚĂƚĂ
ϭϵǇĞĂƌŚŽƌŝǌŽŶǁĂƐŝĚĞĂůŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞůĞǀĞůĞƋƵŝǀĂůĞŶƚĚŝƐĐŽƵŶƚƌĂƚĞĂƐƐƵŵƉƚŝŽŶ͘hƐŝŶŐŚŝƐƚŽƌŝĐĂůƌĞƚƵƌŶƐ ŽĨĂůůƚŚĞĨƵŶĚƐ͛ĂƐƐĞƚĐůĂƐƐĞƐ͕ĞǆƉĞĐƚĞĚĐŽŵƉŽƵŶĚ;ŐĞŽŵĞƚƌŝĐͿƌĞƚƵƌŶƐǁĞƌĞĐĂůĐƵůĂƚĞĚŽǀĞƌƚŚĞƐŚŽƌƚͲƚĞƌŵ;ĨŝƌƐƚ ϭϬǇĞĂƌƐͿĂŶĚƚŚĞůŽŶŐͲƚĞƌŵ;ϭϭͲϲϬǇĞĂƌƐͿƵƐŝŶŐĂďƵŝůĚŝŶŐͲďůŽĐŬĂƉƉƌŽĂĐŚ͘hƐŝŶŐƚŚĞĞǆƉĞĐƚĞĚŶŽŵŝŶĂůƌĞƚƵƌŶƐ ĨŽƌďŽƚŚƐŚŽƌƚͲƚĞƌŵĂŶĚůŽŶŐͲƚĞƌŵ͕ƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨďĞŶĞĨŝƚƐǁĂƐĐĂůĐƵůĂƚĞĚĨŽƌĞĂĐŚĨƵŶĚ͘dŚĞĞǆƉĞĐƚĞĚ ƌĂƚĞŽĨƌĞƚƵƌŶǁĂƐƚŚĞŶƐĞƚĞƋƵŝǀĂůĞŶƚƚŽƚŚĞƐŝŶŐůĞĞƋƵŝǀĂůĞŶƚƌĂƚĞĐĂůĐƵůĂƚĞĚĂďŽǀĞĂŶĚƌŽƵŶĚĞĚĚŽǁŶƚŽƚŚĞ ŶĞĂƌĞƐƚŽŶĞƋƵĂƌƚĞƌŽĨŽŶĞƉĞƌĐĞŶƚ͘dŚĞƚĂƌŐĞƚĂůůŽĐĂƚŝŽŶĂŶĚďĞƐƚĞƐƚŝŵĂƚĞƐŽĨĂƌŝƚŚŵĞƚŝĐƌĞĂůƌĂƚĞƐŽĨƌĞƚƵƌŶ ĨŽƌĞĂĐŚŵĂũŽƌĂƐƐĞƚĐůĂƐƐĂƌĞƚŚĞƐĂŵĞĨŽƌƚŚĞWůĂŶ͘ 409 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϳ
dŚĞƐĞŐĞŽŵĞƚƌŝĐƌĂƚĞƐŽĨƌĞƚƵƌŶĂƌĞƐƵŵŵĂƌŝǌĞĚŝŶƚŚĞĨŽůůŽǁŝŶŐƚĂďůĞ͗ ^ƚƌĂƚĞŐŝĐ ZĞĂůZĞƚƵƌŶ ZĞĂůZĞƚƵƌŶ
ůůŽĐĂƚŝŽŶ zĞĂƌƐϭͲϭϬ zĞĂƌƐϭϭн
'ůŽďĂů
ƋƵŝƚǇ ϱϬ͘ϬϬй ϰ͘ϴϬй ϱ͘ϵϴй
&ŝǆĞĚ/ŶĐŽŵĞ Ϯϴ͘ϬϬй ϭ͘ϬϬй Ϯ͘ϲϮй
/ŶĨůĂƚŝŽŶƐƐĞƚƐ Ϭ͘ϬϬй Ϭ͘ϳϳй ϭ͘ϴϭй
WƌŝǀĂƚĞ
ƋƵŝƚǇ ϴ͘ϬϬй ϲ͘ϯϬй ϳ͘Ϯϯй
ZĞĂů
ƐƚĂƚĞ ϭϯ͘ϬϬй ϯ͘ϳϱй ϰ͘ϵϯй
>ŝƋƵŝĚŝƚǇ ϭ͘ϬϬй Ϭ͘ϬϬй ͲϬ͘ϵϮй
dŽƚĂů ϭϬϬй
ƐƐĞƚůĂƐƐ
^ĞŶƐŝƚŝǀŝƚǇŽĨƚŚĞWƌŽƉŽƌƚŝŽŶĂƚĞ^ŚĂƌĞŽĨƚŚĞEĞƚWĞŶƐŝŽŶ>ŝĂďŝůŝƚǇƚŽŚĂŶŐĞƐŝŶƚŚĞŝƐĐŽƵŶƚZĂƚĞ dŚĞĨŽůůŽǁŝŶŐƉƌĞƐĞŶƚƐƚŚĞŝƚǇ͛ƐƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŶĞƚƉŽƐŝƚŝŽŶůŝĂďŝůŝƚǇĨŽƌĞĂĐŚWůĂŶ͕ĐĂůĐƵůĂƚĞĚƵƐŝŶŐ ƚŚĞĚŝƐĐŽƵŶƚƌĂƚĞĨŽƌĞĂĐŚWůĂŶ͕ĂƐǁĞůůĂƐǁŚĂƚƚŚĞŝƚǇ͛ƐƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇǁŽƵůĚ ďĞŝĨŝƚǁĞƌĞĐĂůĐƵůĂƚĞĚƵƐŝŶŐĂĚŝƐĐŽƵŶƚƌĂƚĞƚŚĂƚŝƐϭƉĞƌĐĞŶƚƉŽŝŶƚůŽǁĞƌŽƌϭƉĞƌĐĞŶƚŚŝŐŚĞƌƚŚĂŶƚŚĞĐƵƌƌĞŶƚ ƌĂƚĞ͗
ŝƐĐŽƵŶƚ ƵƌƌĞŶƚ ŝƐĐŽƵŶƚ
ZĂƚĞͲϭй ŝƐĐŽƵŶƚZĂƚĞ ZĂƚĞнϭй
;ϲ͘ϭϱйͿ ;ϳ͘ϭϱйͿ ;ϴ͘ϭϱйͿ
EĞƚWĞŶƐŝŽŶ>ŝĂďŝůŝƚǇ Ϯϭ͕ Ψ ϭϰ͕ϱϬϮ͕ϯϭϭ ϲϲϬ͕Ϭϱϭ Ψ Ψ ϴ͕ϱϴϴ͕Ϭϵϱ WĞŶƐŝŽŶWůĂŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ
ĞƚĂŝůĞĚŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞWůĂŶ͛ƐĨŝĚƵĐŝĂƌǇŶĞƚƉŽƐŝƚŝŽŶŝƐĂǀĂŝůĂďůĞŝŶƚŚĞƐĞƉĂƌĂƚĞůǇŝƐƐƵĞĚĂůW Z^ĨŝŶĂŶĐŝĂů
ƌĞƉŽƌƚƐ͘
EŽƚĞϵͲ ĞĨŝŶĞĚŽŶƚƌŝďƵƚŝŽŶWůĂŶ
WůĂŶĞƐĐƌŝƉƚŝŽŶ
dŚĞ^ƵƉƉůĞŵĞŶƚĂůWĞŶƐŝŽŶ^ĂǀŝŶŐƐWůĂŶŝƐĂĚĞĨŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƉĞŶƐŝŽŶƉůĂŶĞƐƚĂďůŝƐŚĞĚďǇƚŚĞŝƚǇƚŽƉƌŽǀŝĚĞ ƌĞƚŝƌĞŵĞŶƚĞǆĐĞƐƐďĞŶĞĨŝƚƐƚŽŐĞŶĞƌĂůĞŵƉůŽǇĞĞƐŽĨƚŚĞŝƚǇ͘ƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞƌĞǁĂƐŽŶĞƉůĂŶŵĞŵďĞƌ͘ dŚĞƌĞĂƌĞŶŽƌĞƋƵŝƌĞĚĐŽŶƚƌŝďƵƚŝŽŶƐďǇƉůĂŶŵĞŵďĞƌƐ͘ƵƌŝŶŐƚŚĞϮϬϮϬͲϮϬϮϭĨŝƐĐĂůǇĞĂƌƚŚĞŝƚǇŵĂĚĞŶŽ ĐŽŶƚƌŝďƵƚŝŽŶƐƚŽĨƵŶĚƚŚĞ^ƵƉƉůĞŵĞŶƚĂůWĞŶƐŝŽŶ^ĂǀŝŶŐƐWůĂŶ͘ 410 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϴ
EŽƚĞϭϬͲ KƚŚĞƌWŽƐƚ
ŵƉůŽǇŵĞŶƚĞŶĞĨŝƚWůĂŶ;KW
Ϳ
WůĂŶĞƐĐƌŝƉƚŝŽŶ
dŚĞŝƚǇ͛ƐZĞƚŝƌĞĞ,ĞĂůƚŚWůĂŶŝƐĂƐŝŶŐůĞͲĞŵƉůŽǇĞƌĚĞĨŝŶĞĚďĞŶĞĨŝƚŚĞĂůƚŚĐĂƌĞƉůĂŶ͘dŚĞŝƚǇĐŽŶƚƌŝďƵƚĞƐŽŶ ďĞŚĂůĨŽĨĂůůĞůŝŐŝďůĞƌĞƚŝƌĞĞƐ͛ΨϭϯϵͬŵŽŶƚŚĨŽƌƚŚĞĐĂůĞŶĚĂƌǇĞĂƌϮϬϮϬĂŶĚΨϭϰϯͬŵŽŶƚŚĨŽƌĐĂůĞŶĚĂƌǇĞĂƌϮϬϮϭ͕ ŝŶĐƌĞĂƐĞĚŝŶĂůůĨƵƚƵƌĞǇĞĂƌƐĂĐĐŽƌĚŝŶŐƚŽƚŚĞƌĂƚĞŽĨŵĞĚŝĐĂůŝŶĨůĂƚŝŽŶ͘dŚĞƐĞďĞŶĞĨŝƚƐĂƌĞƉƌŽǀŝĚĞĚƉĞƌĐŽŶƚƌĂĐƚ ďĞƚǁĞĞŶƚŚĞŝƚǇĂŶĚƚŚĞĞŵƉůŽǇĞĞĂƐƐŽĐŝĂƚŝŽŶƐ͘ƐĞƉĂƌĂƚĞĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝƐŶŽƚĂǀĂŝůĂďůĞĨŽƌƚŚĞƉůĂŶ͘ dŚĞŝƚǇƉĂƌƚŝĐŝƉĂƚĞƐŝŶƚŚĞĂůŝĨŽƌŶŝĂ
ŵƉůŽǇĞƌƐ͛ZĞƚŝƌĞĞĞŶĞĨŝƚdƌƵƐƚ;
ZdͿĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĂĐĐƵŵƵůĂƚŝŶŐ
ĨƵŶĚŝŶŐĨŽƌKW
ŽďůŝŐĂƚŝŽŶƐ͘dŚĞ
ZdŝƐĂ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚĂŶĚŝƐĂŶĂŐĞŶƚŵƵůƚŝƉůĞĞŵƉůŽǇĞƌƉůĂŶĨŽƌƚŚŽƐĞ ĞůĞĐƚŝŶŐƚŽƉƌĞĨƵŶĚKW
ŽďůŝŐĂƚŝŽŶƐ͘
ĞŶĞĨŝƚƐWƌŽǀŝĚĞĚ
ZĞƚŝƌĞĞƐĂƌĞĞůŝŐŝďůĞĨŽƌŵĞĚŝĐĂůďĞŶĞĨŝƚƐŝĨƚŚĞǇƌĞƚŝƌĞĂƚĂŐĞϱϬн͕ŚĂǀĞϱнǇĞĂƌƐŽĨƐĞƌǀŝĐĞǁŝƚŚŝŶĂůW Z^͕ĂŶĚ
ǁĞƌĞĞŶƌŽůůĞĚŝŶƚŚĞĂůW
Z^ŚĞĂůƚŚƐǇƐƚĞŵĂƚƌĞƚŝƌĞŵĞŶƚ͘dŚĞŝƚǇƉƌŽǀŝĚĞƐW
D,ŵŝŶŝŵƵŵĨŽƌĞĂĐŚ
ƐƵďƐĐƌŝďĞƌ͕ƌĞŐĂƌĚůĞƐƐŽĨĞůĞĐƚĞĚĐŽǀĞƌĂŐĞƚŝĞƌ͘

ŵƉůŽǇĞĞƐŽǀĞƌĞĚďǇĞŶĞĨŝƚdĞƌŵƐ
ƚ:ƵŶĞϯϬ͕ϮϬϮϬ͕ƚŚĞŵŽƐƚƌĞĐĞŶƚǀĂůƵĂƚŝŽŶĚĂƚĞ͕ƚŚĞĨŽůůŽǁŝŶŐĐƵƌƌĞŶƚĂŶĚĨŽƌŵĞƌĞŵƉůŽǇĞĞƐǁĞƌĞĐŽǀĞƌĞĚďǇ ƚŚĞďĞŶĞĨŝƚƚĞƌŵƐŽĨƚŚĞƉůĂŶ͗
ĐƚŝǀĞĞŵƉůŽǇĞĞƐ ϵϰ
/ŶĂĐƚŝǀĞĞŵƉůŽǇĞĞƐŽƌďĞŶĞĨŝĐŝĂƌŝĞƐĐƵƌƌĞŶƚůǇƌĞĐĞŝǀŝŶŐďĞŶĞĨŝƚƐ Ϯϰ dŽƚĂů ϭϭϴ
ŽŶƚƌŝďƵƚŝŽŶƐ
dŚĞŝƚǇŵĂŬĞƐĐŽŶƚƌŝďƵƚŝŽŶƐƚŽƚŚĞƉůĂŶďĂƐĞĚŽŶĂŶĂĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚƌĂƚĞ͘ ŵƉůŽǇĞĞƐĂƌĞŶŽƚƌĞƋƵŝƌĞĚƚŽ
ĐŽŶƚƌŝďƵƚĞƚŽƚŚĞƉůĂŶ͘&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇŵĂĚĞŶŽĐŽŶƚƌŝďƵƚŝŽŶƐƚŽƚŚĞ ZdƚƌƵƐƚ͘
411 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϱϵ
EĞƚKW
>ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿ
ĐƚƵĂƌŝĂůƐƐƵŵƉƚŝŽŶƐʹdŚĞŶĞƚKW
ůŝĂďŝůŝƚǇͬ;ĂƐƐĞƚͿŝŶƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬĂĐƚƵĂƌŝĂůǀĂůƵĂƚŝŽŶǁĂƐĚĞƚĞƌŵŝŶĞĚ ƵƐŝŶŐƚŚĞĨŽůůŽǁŝŶŐĂĐƚƵĂƌŝĂůĂƐƐƵŵƉƚŝŽŶƐ͕ĂƉƉůŝĞĚƚŽĂůůƉĞƌŝŽĚƐŝŶĐůƵĚĞĚŝŶƚŚĞŵĞĂƐƵƌĞŵĞŶƚ͗ ĐƚƵĂƌŝĂůŽƐƚDĞƚŚŽĚ
ŶƚƌǇͲŐĞEŽƌŵĂůŽƐƚDĞƚŚŽĚ
ĐƚƵĂƌŝĂůƐƐƵŵƉƚŝŽŶƐ
ŝƐĐŽƵŶƚZĂƚĞ ϱ͘ϱϬй
/ŶĨůĂƚŝŽŶ Ϯ͘Ϯϱй
/ŶǀĞƐƚŵĞŶƚZĂƚĞŽĨZĞƚƵƌŶ ϱ͘ϱϬй
DŽƌƚĂůŝƚǇ ;ϭͿ
,ĞĂůƚŚĐĂƌĞdƌĞŶĚZĂƚĞ
ϲ͘ϳйĨŽƌĨŝƐĐĂůǇĞĂƌϮϬϮϭ͕
ŐƌĂĚƵĂůůǇĚĞĐƌĞĂƐŝŶŐŽǀĞƌ
ƐĞǀĞƌĂůĚĞĐĂĚĞƐƚŽĂŶƵůƚŝŵĂƚĞ
ƌĂƚĞŽĨϯ͘ϴйŝŶĨŝƐĐĂůǇĞĂƌϮϬϳϲ
ĂŶĚůĂƚĞƌǇĞĂƌƐ͘
;ϭͿ ĞƌŝǀĞĚƵƐŝŶŐĂůW
Z^DĞŵďĞƌƐŚŝƉĂƚĂĨŽƌĂůů&ƵŶĚƐ
DŽƌƚĂůŝƚǇƌĂƚĞƐǁĞƌĞďĂƐĞĚŽŶƚŚĞĂůW
Z^ĞĐĞŵďĞƌϮϬϭϳ
ǆƉĞƌŝĞŶĐĞ^ƚƵĚǇ͕ǁŚŝĐŚĂƐƐƵŵĞĚĨƵƚƵƌĞŵŽƌƚĂůŝƚǇ
ŝŵƉƌŽǀĞŵĞŶƚƐƵƐŝŶŐ^ŽĐŝĞƚǇŽĨĐƚƵĂƌŝĞƐ;^KͿ^ĐĂůĞ͘dŚĞ ǆƉĞƌŝĞŶĐĞ^ƚƵĚǇƌĞƉŽƌƚĐĂŶďĞŽďƚĂŝŶĞĚŽŶƚŚĞ
ĂůW
Z^ǁĞďƐŝƚĞƵŶĚĞƌ&ŽƌŵƐĂŶĚWƵďůŝĐĂƚŝŽŶƐ͘
dŚĞĂĐƚƵĂƌŝĂůĂƐƐƵŵƉƚŝŽŶƐƵƐĞĚŝŶƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬǀĂůƵĂƚŝŽŶǁĞƌĞďĂƐĞĚŽŶƚŚĞƌĞƐƵůƚƐŽĨĂŶĂĐƚƵĂƌŝĂů ĞǆƉĞƌŝĞŶĐĞƐƚƵĚǇĨŽƌƚŚĞƉĞƌŝŽĚ͘
ŚĂŶŐĞŽĨƐƐƵŵƉƚŝŽŶƐ
dŚĞĚŝƐĐŽƵŶƚƌĂƚĞĂŶĚůŽŶŐͲƚĞƌŵĞǆƉĞĐƚĞĚƌĂƚĞŽĨƌĞƚƵƌŶŽŶKW ƉůĂŶŝŶǀĞƐƚŵĞŶƚƐŽĨϱ͘ϱϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ
:ƵŶĞϯϬ͕ϮϬϮϬǀĂůƵĂƚŝŽŶǁĂƐĚĞĐƌĞĂƐĞĚĨƌŽŵϲ͘ϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϵǀĂůƵĂƚŝŽŶ͘dŚĞŝŶĨůĂƚŝŽŶ ĂƐƐƵŵƉƚŝŽŶǁĂƐĐŚĂŶŐĞĚĨƌŽŵϮ͘ϱϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬǀĂůƵĂƚŝŽŶƚŽϮ͘ϮϱƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ :ƵŶĞϯϬ͕ϮϬϭϵǀĂůƵĂƚŝŽŶ͘ĚĚŝƚŝŽŶĂůůǇ͕ŚĞĂůƚŚĐĂƌĞƚƌĞŶĚƌĂƚĞƐǁĞƌĞƌĞƐĞƚƚŽƌĞĨůĞĐƚƵƉĚĂƚĞĚĐŽƐƚŝŶĐƌĞĂƐĞ ĞǆƉĞĐƚĂƚŝŽŶƐ͘
ŝƐĐŽƵŶƚZĂƚĞ
dŚĞĚŝƐĐŽƵŶƚƌĂƚĞƵƐĞĚƚŽŵĞĂƐƵƌĞƚŚĞƚŽƚĂůKW
ůŝĂďŝůŝƚǇǁĂƐϱ͘ϱϬƉĞƌĐĞŶƚĨŽƌƚŚĞWůĂŶ͘dŚĞƉƌŽũĞĐƚŝŽŶŽĨĐĂƐŚ ĨůŽǁƐƵƐĞĚƚŽĚĞƚĞƌŵŝŶĞƚŚĞĚŝƐĐŽƵŶƚƌĂƚĞĂƐƐƵŵĞĚƚŚĂƚƚŚĞŝƚǇĐŽŶƚƌŝďƵƚŝŽŶǁŝůůďĞŵĂĚĞĂƚƌĂƚĞƐĞƋƵĂůƚŽƚŚĞ ĂĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐ͘
412 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϬ
ŚĂŶŐĞƐŝŶEĞƚKW
>ŝĂďŝůŝƚǇ͗
dŚĞĐŚĂŶŐĞƐŝŶƚŚĞŶĞƚKW
ůŝĂďŝůŝƚǇͬ;ĂƐƐĞƚͿĨŽƌƚŚĞWůĂŶĂƐŽĨƚŚĞŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ:ƵŶĞϯϬ͕ϮϬϮϬĂƌĞĂƐ ĨŽůůŽǁƐ͗
dŽƚĂůKW
WůĂŶ&ŝĚƵĐŝĂƌǇ EĞƚKW

>ŝĂďŝůŝƚǇ EĞƚWŽƐŝƚŝŽŶ >ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿ
ĂůĂŶĐĞĂƚ:ƵŶĞϯϬ͕ϮϬϮϬ ϭ͕ϱϴϬ͕ϳϰϬ Ψ ϭ͕ϲϮϳ͕ϳϵϮ Ψ ;ϰϳ͕ϬϱϮͿ Ψ ŚĂŶŐĞƐŝŶƚŚĞǇĞĂƌ
^ĞƌǀŝĐĞĐŽƐƚ ϴϴ͕Ϯϭϵ Ͳ ϴϴ͕Ϯϭϵ /ŶƚĞƌĞƐƚ ϵϳ͕ϭϴϯ Ͳ ϵϳ͕ϭϴϯ ŝĨĨĞƌĞŶĐĞƐďĞƚǁĞĞŶĞǆƉĞĐƚĞĚ
ĂŶĚĂĐƚƵĂůĞǆƉĞƌŝĞŶĐĞ ϭϬϯ͕ϰϵϱ Ͳ Ͳ ŚĂŶŐĞƐŽĨĂƐƐƵŵƉƚŝŽŶƐ ϰϰ͕ϰϲϰ Ͳ ϰϰ͕ϰϲϰ EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ Ͳ ϴϴ͕ϬϱϮ ;ϴϴ͕ϬϱϮͿ

ŵƉůŽǇĞƌĐŽŶƚƌŝďƵƚŝŽŶƐ Ͳ ϵϴ͕ϰϵϬ ;ϵϴ͕ϰϵϬͿ ĞŶĞĨŝƚƉĂǇŵĞŶƚƐ ;ϵϴ͕ϰϵϬͿ ;ϵϴ͕ϰϵϬͿ Ͳ ĚŵŝŶŝƐƚƌĂƚŝǀĞĞǆƉĞŶƐĞ Ͳ ;ϴϬϯͿ ϴϬϯ EĞƚĐŚĂŶŐĞƐ Ϯϯϰ͕ϴϳϭ ϴϳ͕Ϯϰϵ ϭϰϳ͕ϲϮϮ ĂůĂŶĐĞĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ ϭ͕ϴϭϱ͕ϲϭϭ Ψ ϭ͕ϳϭϱ͕Ϭϰϭ Ψ ϭϬϬ͕ϱϳϬ Ψ ^ĞŶƐŝƚŝǀŝƚǇŽĨƚŚĞEĞƚKW
>ŝĂďŝůŝƚǇƚŽŚĂŶŐĞƐŝŶƚŚĞŝƐĐŽƵŶƚZĂƚĞ
dŚĞĨŽůůŽǁŝŶŐƉƌĞƐĞŶƚƐƚŚĞŶĞƚKW
ůŝĂďŝůŝƚǇŽĨƚŚĞŝƚǇ͕ĂƐǁĞůůĂƐǁŚĂƚƚŚĞŝƚǇ͛ƐŶĞƚKW ůŝĂďŝůŝƚǇǁŽƵůĚďĞŝĨŝƚ
ǁĞƌĞĐĂůĐƵůĂƚĞĚƵƐŝŶŐĂĚŝƐĐŽƵŶƚƌĂƚĞƚŚĂƚŝƐϭͲƉĞƌĐĞŶƚĂŐĞͲƉŽŝŶƚůŽǁĞƌ;ϰ͘ϱϬƉĞƌĐĞŶƚͿŽƌϭͲƉĞƌĐĞŶƚĂŐĞͲƉŽŝŶƚ ŚŝŐŚĞƌ;ϲ͘ϱϬƉĞƌĐĞŶƚͿƚŚĂŶƚŚĞĐƵƌƌĞŶƚĚŝƐĐŽƵŶƚƌĂƚĞ͗ ϭйĞĐƌĞĂƐĞ ŝƐĐŽƵŶƚZĂƚĞ ϭй/ŶĐƌĞĂƐĞ
;ϰ͘ϱϬйͿ ;ϱ͘ϱϬйͿ ;ϲ͘ϱϬйͿ
EĞƚKW
>ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿ Ψ ϭϬϬ͕ϱϳϬ ϯϮϲ͕ϯϬϮ Ψ ;ϴϴ͕ϭϰϴͿ Ψ ^ĞŶƐŝƚŝǀŝƚǇŽĨƚŚĞEĞƚKW
>ŝĂďŝůŝƚǇƚŽŚĂŶŐĞƐŝŶƚŚĞ,ĞĂůƚŚĐĂƌĞŽƐƚdƌĞŶĚZĂƚĞƐ dŚĞĨŽůůŽǁŝŶŐƉƌĞƐĞŶƚƐƚŚĞŶĞƚKW
ůŝĂďŝůŝƚǇŽĨƚŚĞŝƚǇ͕ĂƐǁĞůůĂƐǁŚĂƚƚŚĞŝƚǇΖƐŶĞƚKW ůŝĂďŝůŝƚǇǁŽƵůĚďĞŝĨŝƚ
ǁĞƌĞĐĂůĐƵůĂƚĞĚƵƐŝŶŐŚĞĂůƚŚĐĂƌĞĐŽƐƚƚƌĞŶĚƌĂƚĞƐƚŚĂƚĂƌĞϭͲƉĞƌĐĞŶƚĂŐĞͲƉŽŝŶƚůŽǁĞƌ;ϱ͘ϳƉĞƌĐĞŶƚĚĞĐƌĞĂƐŝŶŐƚŽ Ϯ͘ϴƉĞƌĐĞŶƚͿŽƌϭͲƉĞƌĐĞŶƚĂŐĞͲƉŽŝŶƚŚŝŐŚĞƌ;ϳ͘ϳƉĞƌĐĞŶƚĚĞĐƌĞĂƐŝŶŐƚŽϰ͘ϴƉĞƌĐĞŶƚͿƚŚĂŶƚŚĞĐƵƌƌĞŶƚŚĞĂůƚŚĐĂƌĞ ĐŽƐƚƚƌĞŶĚƌĂƚĞƐ͗
ϭйĞĐƌĞĂƐĞ ƵƌƌĞŶƚdƌĞŶĚZĂƚĞ ϭй/ŶĐƌĞĂƐĞ
;ϱ͘ϳйĚĞĐƌĞĂƐŝŶŐ ;ϲ͘ϳйĚĞĐƌĞĂƐŝŶŐ ;ϳ͘ϳйĚĞĐƌĞĂƐŝŶŐ
ƚŽϮ͘ϴйͿ ƚŽϯ͘ϴйͿ ƚŽϰ͘ϴйͿ
EĞƚKW
>ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿ ; Ψ ϭϬϬ͕ϱϳϬ ϭϭϵ͕ϰϱϭͿ Ψ ϯϳϭ͕ϬϬϰ Ψ 413 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϭ
&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇƌĞĐŽŐŶŝǌĞĚKW ĞǆƉĞŶƐĞŽĨΨϭϭϱ͕ϲϭϵ͘ƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇ
ƌĞƉŽƌƚĞĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐĂŶĚĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽKW ĨƌŽŵƚŚĞĨŽůůŽǁŝŶŐ
ƐŽƵƌĐĞƐ͗
ĞĨĞƌƌĞĚ ĞĨĞƌƌĞĚ
KƵƚĨůŽǁƐŽĨ /ŶĨůŽǁƐŽĨ
ZĞƐŽƵƌĐĞƐ ZĞƐŽƵƌĐĞƐ
KW
ĐŽŶƚƌŝďƵƚŝŽŶƐƐƵďƐĞƋƵĞŶƚƚŽŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ Ψ ϴϵ͕ϵϰϳ Ψ Ͳ ŚĂŶŐĞƐŝŶĂƐƐƵŵƉƚŝŽŶƐ ϯϵ͕ϵϬϰ ϰϭ͕ϭϱϴ
ŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶĞǆƉĞĐƚĞĚĂŶĚĂĐƚƵĂůůŝĂďŝůŝƚǇ Ͳ ϭϰϭ͕ϯϴϴ EĞƚĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƉƌŽũĞĐƚĞĚĂŶĚŝŶǀĞƐƚŵĞŶƚĞĂƌŶŝŶŐƐ Ϯϭ͕ϲϵϬ Ͳ dŽƚĂů Ψ ϮϵϮ͕ϵϮϵ Ψ ϰϭ͕ϭϱϴ
dŚĞΨϴϵ͕ϵϰϳƌĞƉŽƌƚĞĚĂƐĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽKW ƌĞƐƵůƚŝŶŐĨƌŽŵŝƚǇĐŽŶƚƌŝďƵƚŝŽŶƐ
ƐƵďƐĞƋƵĞŶƚƚŽƚŚĞŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞǁŝůůďĞƌĞĐŽŐŶŝǌĞĚĂƐĂƌĞĚƵĐƚŝŽŶŽĨƚŚĞŶĞƚKW ůŝĂďŝůŝƚǇĨŽƌƚŚĞĨŝƐĐĂů
ǇĞĂƌĞŶĚŝŶŐ:ƵŶĞϯϬ͕ϮϬϮϮ͘KƚŚĞƌĂŵŽƵŶƚƐƌĞƉŽƌƚĞĚĂƐĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽƌĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐ ƌĞůĂƚĞĚƚŽKW
ǁŝůůďĞƌĞĐŽŐŶŝǌĞĚŝŶĂƐKW
ĞǆƉĞŶƐĞĂƐĨŽůůŽǁƐ͗
Ψ Ϯϳ͕Ϭϱϴ
Ϯϳ͕Ϭϱϴ
ϭϱ͕ϯϴϴ
ϭϴ͕ϰϵϴ
ϭϲ͕ϱϳϴ
ϱϳ͕Ϯϰϰ
Ψ ϭϲϭ͕ϴϮϰ
ϮϬϮϲ
dŚĞƌĞĂĨƚĞƌ
dŽƚĂů
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
ϮϬϮϱ
EŽƚĞϭϭͲ ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ
/ŶƚŚĞĨŝƐĐĂůǇĞĂƌϮϬϭϵ͕ƚŚĞŝƚǇŽƵŶĐŝůĂƉƉƌŽǀĞĚƚŚĞĐƌĞĂƚŝŽŶŽĨĂ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚŐƌĞĞŵĞŶƚǁŝƚŚh͘^ĂŶŬ EĂƚŝŽŶĂůƐƐŽĐŝĂƚŝŽŶ͕ĂŶĚWƵďůŝĐŐĞŶĐǇZĞƚŝƌĞŵĞŶƚ^ĞƌǀŝĐĞƐ;WZ^Ϳ͕dƌƵƐƚĚŵŝŶŝƐƚƌĂƚŽƌ͘dŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ ǁĂƐĞƐƚĂďůŝƐŚĞĚĂƐĂŵĞĂŶƐƚŽƐĞƚĂƐŝĚĞŵŽŶŝĞƐƚŽĨƵŶĚƚŚĞŝƚǇ͛ƐƉĞŶƐŝŽŶĂŶĚKW ŽďůŝŐĂƚŝŽŶƐ͘ŽŶƚƌŝďƵƚŝŽŶƐ
ƚŽƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚĂƌĞŝƌƌĞǀŽĐĂďůĞ͕ƚŚĞĂƐƐĞƚƐĂƌĞĚĞĚŝĐĂƚĞĚƚŽƉƌŽǀŝĚŝŶŐďĞŶĞĨŝƚƐƚŽƉůĂŶŵĞŵďĞƌ͕ĂŶĚƚŚĞ ĂƐƐĞƚƐĂƌĞƉƌŽƚĞĐƚĞĚĨƌŽŵĐƌĞĚŝƚŽƌƐŽĨƚŚĞŝƚǇ͘dŚĞƉƵƌƉŽƐĞŽĨƚŚĞĐƌĞĂƚŝŽŶŽĨƚŚĞƐĞĐƚŝŽŶϭϭϱdƌƵƐƚǁĂƐƚŽ ĂĚĚƌĞƐƐƚŚĞŝƚǇ͛ƐƉĞŶƐŝŽŶŽďůŝŐĂƚŝŽŶƐďǇĂĐĐƵŵƵůĂƚŝŶŐĂƐƐĞƚƐƚŽƌĞĚƵĐĞƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͘,ŽǁĞǀĞƌ͕ŝŶ ĂĐĐŽƌĚĂŶĐĞǁŝƚŚŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐ͕ƚŚĞĂƐƐĞƚƐŝŶƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚĂƌĞŶŽƚĐŽŶƐŝĚĞƌĞĚ ƚŽŚĂǀĞƉƌĞƐĞŶƚƐĞƌǀŝĐĞĐĂƉĂĐŝƚǇĂƐƉůĂŶĂƐƐĞƚƐĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞĐŽŶƐŝĚĞƌĞĚƌĞƐƚƌŝĐƚĞĚĂƐƐĞƚƐŽĨƚŚĞŝƚǇƌĂƚŚĞƌ ƚŚĂŶƉĞŶƐŝŽŶƉůĂŶĂƐƐĞƚƐ͘ĐĐŽƌĚŝŶŐůǇ͕ƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ͛ƐĂƐƐĞƚƐĂƌĞƌĞĐŽƌĚĞĚĂƐƌĞƐƚƌŝĐƚĞĚĨŽƌƉĞŶƐŝŽŶ ďĞŶĞĨŝƚƐŝŶƚŚĞŝƚǇ͛Ɛ'ĞŶĞƌĂů&ƵŶĚƌĂƚŚĞƌƚŚĂŶĂƐƐĞƚƐŽĨƚŚĞƉĞŶƐŝŽŶƉůĂŶĚƵƌŝŶŐƚŚĞŵĞĂƐƵƌĞŵĞŶƚŽĨƚŚĞŶĞƚ ƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ͘dŚĞĂƐƐĞƚƐŚĞůĚŝŶƚƌƵƐƚǁŝůůďĞĐŽŶƐŝĚĞƌĞĚƉĞŶƐŝŽŶƉůĂŶĂƐƐĞƚƐĂƚƚŚĞƚŝŵĞƚŚĞǇĂƌĞƚƌĂŶƐĨĞƌƌĞĚ ŽƵƚŽĨƚŚĞdƌƵƐƚŝŶƚŽƚŚĞƉĞŶƐŝŽŶƉůĂŶ͘
dŚĞďĂůĂŶĐĞŝŶƚŚĞdƌƵƐƚĨŽƌƚŚĞĨŝƐĐĂůǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭǁĂƐΨϭϭ͕ϯϴϭ͕ϵϮϮ͘dŚĞŝƚǇĐƵƌƌĞŶƚůǇĨƵŶĚƐŝƚƐ KW
ŽďůŝŐĂƚŝŽŶƐƚŚƌŽƵŐŚƚŚĞ
ZdƉƌŽŐƌĂŵ͕ĂŶĚĂůƚŚŽƵŐŚƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚŝƐĂďůĞƚŽĂĐĐĞƉƚKW ĨƵŶĚƐ͕
ƚŚĞŝƚǇŚĂƐŶŽŝŵŵĞĚŝĂƚĞƉůĂŶƐƚŽĨƵŶĚKW
ŽďůŝŐĂƚŝŽŶƐƚŚƌŽƵŐŚƚŚĞ^ĞĐƚŝŽŶϭϭϱdƌƵƐƚ͘
414 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϮ
EŽƚĞϭϮͲ ZŝƐŬDĂŶĂŐĞŵĞŶƚ
ĞƐĐƌŝƉƚŝŽŶŽĨ^ĞůĨͲ/ŶƐƵƌĂŶĐĞWŽŽůWƵƌƐƵĂŶƚƚŽ:ŽŝŶƚWŽǁĞƌƐŐƌĞĞŵĞŶƚ dŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂŝƐĂŵĞŵďĞƌŽĨƚŚĞĂůŝĨŽƌŶŝĂ:ŽŝŶƚWŽǁĞƌƐ/ŶƐƵƌĂŶĐĞƵƚŚŽƌŝƚǇ;ƵƚŚŽƌŝƚǇͿ͘dŚĞƵƚŚŽƌŝƚǇŝƐ ĐŽŵƉŽƐĞĚŽĨϭϮϯĂůŝĨŽƌŶŝĂƉƵďůŝĐĞŶƚŝƚŝĞƐĂŶĚŝƐŽƌŐĂŶŝǌĞĚƵŶĚĞƌĂũŽŝŶƚƉŽǁĞƌƐĂŐƌĞĞŵĞŶƚƉƵƌƐƵĂŶƚƚŽ ĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞΑϲϱϬϬĞƚƐĞƋ͘dŚĞƉƵƌƉŽƐĞŽĨƚŚĞƵƚŚŽƌŝƚǇŝƐƚŽĂƌƌĂŶŐĞĂŶĚĂĚŵŝŶŝƐƚĞƌƉƌŽŐƌĂŵƐ ĨŽƌƚŚĞƉŽŽůŝŶŐŽĨƐĞůĨŝŶƐƵƌĞĚůŽƐƐĞƐ͕ƚŽƉƵƌĐŚĂƐĞĞǆĐĞƐƐŝŶƐƵƌĂŶĐĞŽƌƌĞŝŶƐƵƌĂŶĐĞ͕ĂŶĚƚŽĂƌƌĂŶŐĞĨŽƌŐƌŽƵƉ ƉƵƌĐŚĂƐĞĚŝŶƐƵƌĂŶĐĞĨŽƌƉƌŽƉĞƌƚǇĂŶĚŽƚŚĞƌůŝŶĞƐŽĨĐŽǀĞƌĂŐĞ͘dŚĞĂůŝĨŽƌŶŝĂ:W/ďĞŐĂŶĐŽǀĞƌŝŶŐĐůĂŝŵƐŽĨ ŝƚƐŵĞŵďĞƌƐŝŶϭϵϳϴ͘
ĂĐŚŵĞŵďĞƌŐŽǀĞƌŶŵĞŶƚŚĂƐĂŶĞůĞĐƚĞĚŽĨĨŝĐŝĂůĂƐŝƚƐƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽŶƚŚĞ ŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͘dŚĞŽĂƌĚŽƉĞƌĂƚĞƐƚŚƌŽƵŐŚĂŶŝŶĞͲŵĞŵďĞƌ ǆĞĐƵƚŝǀĞŽŵŵŝƚƚĞĞ͘
^ĞůĨͲ/ŶƐƵƌĂŶĐĞWƌŽŐƌĂŵƐŽĨƚŚĞ:W/

ĂĐŚŵĞŵďĞƌƉĂǇƐĂŶĂŶŶƵĂůĐŽŶƚƌŝďƵƚŝŽŶĂƚƚŚĞďĞŐŝŶŶŝŶŐŽĨƚŚĞĐŽǀĞƌĂŐĞƉĞƌŝŽĚ͘ƌĞƚƌŽƐƉĞĐƚŝǀĞĂĚũƵƐƚŵĞŶƚ ŝƐƚŚĞŶĐŽŶĚƵĐƚĞĚĂŶŶƵĂůůǇƚŚĞƌĞĂĨƚĞƌ͕ĨŽƌĐŽǀĞƌĂŐĞǇĞĂƌƐϮϬϭϮͲϭϯĂŶĚƉƌŝŽƌ͘ŽǀĞƌĂŐĞǇĞĂƌƐϮϬϭϯͲϭϰĂŶĚ ĨŽƌǁĂƌĚĂƌĞŶŽƚƐƵďũĞĐƚƚŽƌŽƵƚŝŶĞĂŶŶƵĂůƌĞƚƌŽƐƉĞĐƚŝǀĞĂĚũƵƐƚŵĞŶƚ͘dŚĞƚŽƚĂůĨƵŶĚŝŶŐƌĞƋƵŝƌĞŵĞŶƚĨŽƌƐĞůĨͲ ŝŶƐƵƌĂŶĐĞƉƌŽŐƌĂŵƐŝƐďĂƐĞĚŽŶĂĐƚƵĂƌŝĂůĂŶĂůǇƐŝƐ͘ŽƐƚƐĂƌĞĂůůŽĐĂƚĞĚƚŽŝŶĚŝǀŝĚƵĂůĂŐĞŶĐŝĞƐďĂƐĞĚŽŶƉĂǇƌŽůů ĂŶĚĐůĂŝŵƐŚŝƐƚŽƌǇ͕ƌĞůĂƚŝǀĞƚŽŽƚŚĞƌŵĞŵďĞƌƐŽĨƚŚĞƌŝƐŬͲƐŚĂƌŝŶŐƉŽŽů͘ WƌŝŵĂƌǇ>ŝĂďŝůŝƚǇWƌŽŐƌĂŵ
ůĂŝŵƐĂƌĞƉŽŽůĞĚƐĞƉĂƌĂƚĞůǇďĞƚǁĞĞŶƉŽůŝĐĞĂŶĚŐĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚĞǆƉŽƐƵƌĞƐ͘;ϭͿdŚĞƉĂǇƌŽůůŽĨĞĂĐŚ ŵĞŵďĞƌŝƐĞǀĂůƵĂƚĞĚƌĞůĂƚŝǀĞƚŽƚŚĞƉĂǇƌŽůůŽĨŽƚŚĞƌŵĞŵďĞƌƐ͘ǀĂƌŝĂďůĞĐƌĞĚŝďŝůŝƚǇĨĂĐƚŽƌŝƐĚĞƚĞƌŵŝŶĞĚĨŽƌ ĞĂĐŚŵĞŵďĞƌ͕ǁŚŝĐŚĞƐƚĂďůŝƐŚĞƐƚŚĞǁĞŝŐŚƚĂƉƉůŝĞĚƚŽƉĂǇƌŽůůĂŶĚƚŚĞǁĞŝŐŚƚĂƉƉůŝĞĚƚŽůŽƐƐĞƐǁŝƚŚŝŶƚŚĞ ĨŽƌŵƵůĂ͘;ϮͿdŚĞĨŝƌƐƚůĂǇĞƌŽĨůŽƐƐĞƐŝŶĐůƵĚĞƐŝŶĐƵƌƌĞĚĐŽƐƚƐƵƉƚŽΨϭϬϬ͕ϬϬϬĨŽƌĞĂĐŚŽĐĐƵƌƌĞŶĐĞĂŶĚŝƐĞǀĂůƵĂƚĞĚ ĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞƉŽŽů͛ƐƚŽƚĂůŝŶĐƵƌƌĞĚĐŽƐƚƐǁŝƚŚŝŶƚŚĞĨŝƌƐƚůĂǇĞƌ͘;ϯͿdŚĞƐĞĐŽŶĚůĂǇĞƌŽĨůŽƐƐĞƐŝŶĐůƵĚĞƐ ŝŶĐƵƌƌĞĚĐŽƐƚƐĨƌŽŵΨϭϬϬ͕ϬϬϬƚŽΨϱϬϬ͕ϬϬϬĨŽƌĞĂĐŚŽĐĐƵƌƌĞŶĐĞĂŶĚŝƐĞǀĂůƵĂƚĞĚĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞƉŽŽů͛Ɛ ƚŽƚĂůŝŶĐƵƌƌĞĚĐŽƐƚƐǁŝƚŚŝŶƚŚĞƐĞĐŽŶĚůĂǇĞƌ͘;ϰͿ/ŶĐƵƌƌĞĚĐŽƐƚƐĨƌŽŵΨϱϬϬ͕ϬϬϬƚŽΨϱϬŵŝůůŝŽŶ͕ĂƌĞĚŝƐƚƌŝďƵƚĞĚ ďĂƐĞĚŽŶƚŚĞŽƵƚĐŽŵĞŽĨĐŽƐƚĂůůŽĐĂƚŝŽŶǁŝƚŚŝŶƚŚĞĨŝƌƐƚĂŶĚƐĞĐŽŶĚůŽƐƐůĂǇĞƌƐ͘ dŚĞŽǀĞƌĂůůĐŽǀĞƌĂŐĞůŝŵŝƚĨŽƌĞĂĐŚŵĞŵďĞƌ͕ŝŶĐůƵĚŝŶŐĂůůůĂǇĞƌƐŽĨĐŽǀĞƌĂŐĞ͕ŝƐΨϱϬŵŝůůŝŽŶƉĞƌŽĐĐƵƌƌĞŶĐĞ͘ ^ƵďƐŝĚĞŶĐĞůŽƐƐĞƐĂůƐŽŚĂǀĞĂΨϱϬŵŝůůŝŽŶƉĞƌŽĐĐƵƌƌĞŶĐĞůŝŵŝƚ͘dŚĞĐŽǀĞƌĂŐĞƐƚƌƵĐƚƵƌĞŝƐĐŽŵƉŽƐĞĚŽĨĂ ĐŽŵďŝŶĂƚŝŽŶŽĨƉŽŽůĞĚƐĞůĨͲŝŶƐƵƌĂŶĐĞ͕ƌĞŝŶƐƵƌĂŶĐĞ͕ĂŶĚĞǆĐĞƐƐŝŶƐƵƌĂŶĐĞ͘ tŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶ
ůĂŝŵƐĂƌĞƉŽŽůĞĚƐĞƉĂƌĂƚĞůǇďĞƚǁĞĞŶƉƵďůŝĐƐĂĨĞƚǇ;ƉŽůŝĐĞĂŶĚĨŝƌĞͿĂŶĚŐĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚĞǆƉŽƐƵƌĞƐ͘;ϭͿdŚĞ ƉĂǇƌŽůůŽĨĞĂĐŚŵĞŵďĞƌŝƐĞǀĂůƵĂƚĞĚƌĞůĂƚŝǀĞƚŽƚŚĞƉĂǇƌŽůůŽĨŽƚŚĞƌŵĞŵďĞƌƐ͘ǀĂƌŝĂďůĞĐƌĞĚŝďŝůŝƚǇĨĂĐƚŽƌŝƐ ĚĞƚĞƌŵŝŶĞĚĨŽƌĞĂĐŚŵĞŵďĞƌ͕ǁŚŝĐŚĞƐƚĂďůŝƐŚĞƐƚŚĞǁĞŝŐŚƚĂƉƉůŝĞĚƚŽƉĂǇƌŽůůĂŶĚƚŚĞǁĞŝŐŚƚĂƉƉůŝĞĚƚŽůŽƐƐĞƐ ǁŝƚŚŝŶƚŚĞĨŽƌŵƵůĂ͘;ϮͿdŚĞĨŝƌƐƚůĂǇĞƌŽĨůŽƐƐĞƐŝŶĐůƵĚĞƐŝŶĐƵƌƌĞĚĐŽƐƚƐƵƉƚŽΨϳϱ͕ϬϬϬĨŽƌĞĂĐŚŽĐĐƵƌƌĞŶĐĞĂŶĚŝƐ ĞǀĂůƵĂƚĞĚĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞƉŽŽů͛ƐƚŽƚĂůŝŶĐƵƌƌĞĚĐŽƐƚƐǁŝƚŚŝŶƚŚĞĨŝƌƐƚůĂǇĞƌ͘;ϯͿdŚĞƐĞĐŽŶĚůĂǇĞƌŽĨůŽƐƐĞƐ ŝŶĐůƵĚĞƐŝŶĐƵƌƌĞĚĐŽƐƚƐĨƌŽŵΨϳϱ͕ϬϬϬƚŽΨϮϬϬ͕ϬϬϬĨŽƌĞĂĐŚŽĐĐƵƌƌĞŶĐĞĂŶĚŝƐĞǀĂůƵĂƚĞĚĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞ ƉŽŽů͛ƐƚŽƚĂůŝŶĐƵƌƌĞĚĐŽƐƚƐǁŝƚŚŝŶƚŚĞƐĞĐŽŶĚůĂǇĞƌ͘;ϰͿ/ŶĐƵƌƌĞĚĐŽƐƚƐĨƌŽŵΨϮϬϬ͕ϬϬϬƚŽƐƚĂƚƵƚŽƌǇůŝŵŝƚƐĂƌĞ ĚŝƐƚƌŝďƵƚĞĚďĂƐĞĚŽŶƚŚĞŽƵƚĐŽŵĞŽĨĐŽƐƚĂůůŽĐĂƚŝŽŶǁŝƚŚŝŶƚŚĞĨŝƌƐƚĂŶĚƐĞĐŽŶĚůŽƐƐůĂǇĞƌƐ͘ 415 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϯ
&ŽƌϮϬϮϬͲϮϭƚŚĞƵƚŚŽƌŝƚǇ͛ƐƉŽŽůĞĚƌĞƚĞŶƚŝŽŶŝƐΨϭŵŝůůŝŽŶƉĞƌŽĐĐƵƌƌĞŶĐĞ͕ǁŝƚŚƌĞŝŶƐƵƌĂŶĐĞƚŽƐƚĂƚƵƚŽƌǇůŝŵŝƚƐ ƵŶĚĞƌĂůŝĨŽƌŶŝĂtŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶ>Ăǁ͘
ŵƉůŽǇĞƌ͛Ɛ>ŝĂďŝůŝƚǇůŽƐƐĞƐĂƌĞƉŽŽůĞĚĂŵŽŶŐŵĞŵďĞƌƐƚŽΨϭ ŵŝůůŝŽŶ͘ŽǀĞƌĂŐĞĨƌŽŵΨϭŵŝůůŝŽŶƚŽΨϱŵŝůůŝŽŶŝƐƉƵƌĐŚĂƐĞĚƚŚƌŽƵŐŚƌĞŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐ͕ĂŶĚ ŵƉůŽǇĞƌ͛Ɛ
>ŝĂďŝůŝƚǇůŽƐƐĞƐĨƌŽŵΨϱŵŝůůŝŽŶƚŽΨϭϬŵŝůůŝŽŶĂƌĞƉŽŽůĞĚĂŵŽŶŐŵĞŵďĞƌƐ͘ WƵƌĐŚĂƐĞĚ/ŶƐƵƌĂŶĐĞ
WŽůůƵƚŝŽŶ>ĞŐĂů>ŝĂďŝůŝƚǇ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƉĂƌƚŝĐŝƉĂƚĞƐŝŶƚŚĞƉŽůůƵƚŝŽŶůĞŐĂůůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞ ƉƌŽŐƌĂŵǁŚŝĐŚŝƐĂǀĂŝůĂďůĞƚŚƌŽƵŐŚƚŚĞƵƚŚŽƌŝƚǇ͘dŚĞƉŽůŝĐǇĐŽǀĞƌƐƐƵĚĚĞŶĂŶĚŐƌĂĚƵĂůƉŽůůƵƚŝŽŶŽĨƐĐŚĞĚƵůĞĚ ƉƌŽƉĞƌƚǇ͕ƐƚƌĞĞƚƐ͕ĂŶĚƐƚŽƌŵƐĚƌĂŝŶƐŽǁŶĞĚďǇƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ͘ŽǀĞƌĂŐĞŝƐŽŶĂĐůĂŝŵƐͲŵĂĚĞďĂƐŝƐ͘dŚĞƌĞŝƐ ĂΨϮϱϬ͕ϬϬϬĚĞĚƵĐƚŝďůĞ͘dŚĞƵƚŚŽƌŝƚǇŚĂƐĂŶĂŐŐƌĞŐĂƚĞůŝŵŝƚŽĨΨϮϬŵŝůůŝŽŶƚĞƌŵ͘ WƌŽƉĞƌƚǇ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƉĂƌƚŝĐŝƉĂƚĞƐŝŶƚŚĞĂůůͲƌŝƐŬƉƌŽƉĞƌƚǇƉƌŽƚĞĐƚŝŽŶƉƌŽŐƌĂŵŽĨƚŚĞ:W/͘ dŚŝƐŝŶƐƵƌĂŶĐĞƉƌŽƚĞĐƚŝŽŶŝƐƵŶĚĞƌǁƌŝƚƚĞŶďǇƐĞǀĞƌĂůŝŶƐƵƌĂŶĐĞĐŽŵƉĂŶŝĞƐ͘ŝƚǇŽĨ>ĂYƵŝŶƚĂƉƌŽƉĞƌƚǇŝƐĐƵƌƌĞŶƚůǇ ŝŶƐƵƌĞĚĂĐĐŽƌĚŝŶŐƚŽĂƐĐŚĞĚƵůĞŽĨĐŽǀĞƌĞĚƉƌŽƉĞƌƚǇƐƵďŵŝƚƚĞĚďǇƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƚŽƚŚĞ:W/͘ŝƚǇŽĨ>Ă YƵŝŶƚĂƉƌŽƉĞƌƚǇĐƵƌƌĞŶƚůǇŚĂƐĂůůͲƌŝƐŬƉƌŽƉĞƌƚǇŝŶƐƵƌĂŶĐĞƉƌŽƚĞĐƚŝŽŶŝŶƚŚĞĂŵŽƵŶƚŽĨΨϳϭ͕Ϯϯϲ͕ϰϬϯ͘dŚĞƌĞŝƐĂ ΨϭϬ͕ϬϬϬĚĞĚƵĐƚŝďůĞƉĞƌŽĐĐƵƌƌĞŶĐĞĞǆĐĞƉƚĨŽƌŶŽŶͲĞŵĞƌŐĞŶĐǇǀĞŚŝĐůĞŝŶƐƵƌĂŶĐĞǁŚŝĐŚŚĂƐĂΨϮ͕ϱϬϬĚĞĚƵĐƚŝďůĞ͘ ^ƉĞĐŝĂů
ǀĞŶƚdĞŶĂŶƚhƐĞƌ>ŝĂďŝůŝƚǇ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂĨƵƌƚŚĞƌƉƌŽƚĞĐƚƐĂŐĂŝŶƐƚůŝĂďŝůŝƚǇĚĂŵĂŐĞƐďǇ ƌĞƋƵŝƌŝŶŐƚĞŶĂŶƚƵƐĞƌƐŽĨĐĞƌƚĂŝŶƉƌŽƉĞƌƚǇƚŽƉƵƌĐŚĂƐĞůŽǁͲĐŽƐƚƚĞŶĂŶƚƵƐĞƌůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞĨŽƌĐĞƌƚĂŝŶ ĂĐƚŝǀŝƚŝĞƐŽŶĂŐĞŶĐǇƉƌŽƉĞƌƚǇ͘dŚĞŝŶƐƵƌĂŶĐĞƉƌĞŵŝƵŵŝƐƉĂŝĚďǇƚŚĞƚĞŶĂŶƚƵƐĞƌĂŶĚŝƐƉĂŝĚƚŽƚŚĞŝƚǇŽĨ>Ă YƵŝŶƚĂĂĐĐŽƌĚŝŶŐƚŽĂƐĐŚĞĚƵůĞ͘dŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƚŚĞŶƉĂǇƐĨŽƌƚŚĞŝŶƐƵƌĂŶĐĞ͘dŚĞŝŶƐƵƌĂŶĐĞŝƐĨĂĐŝůŝƚĂƚĞĚďǇ ƚŚĞƵƚŚŽƌŝƚǇ͘

ĂƌƚŚƋƵĂŬĞĂŶĚ&ůŽŽĚ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƉƵƌĐŚĂƐĞƐĞĂƌƚŚƋƵĂŬĞĂŶĚĨůŽŽĚŝŶƐƵƌĂŶĐĞŽŶĂƉŽƌƚŝŽŶ ŽĨŝƚƐƉƌŽƉĞƌƚǇ͘dŚĞĞĂƌƚŚƋƵĂŬĞŝŶƐƵƌĂŶĐĞŝƐƉĂƌƚŽĨƚŚĞƉƌŽƉĞƌƚǇƉƌŽƚĞĐƚŝŽŶŝŶƐƵƌĂŶĐĞƉƌŽŐƌĂŵŽĨƚŚĞƵƚŚŽƌŝƚǇ͘ ŝƚǇŽĨ>ĂYƵŝŶƚĂƉƌŽƉĞƌƚǇĐƵƌƌĞŶƚůǇŚĂƐĞĂƌƚŚƋƵĂŬĞƉƌŽƚĞĐƚŝŽŶŝŶƚŚĞĂŵŽƵŶƚŽĨΨϮϱ͕ϬϬϬ͕ϬϬϬ͘dŚĞƌĞŝƐ ĂĚĞĚƵĐƚŝďůĞŽĨϱйƉĞƌƵŶŝƚŽĨǀĂůƵĞǁŝƚŚĂŵŝŶŝŵƵŵĚĞĚƵĐƚŝďůĞŽĨΨϭϬϬ͕ϬϬϬ͘ ƌŝŵĞ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƉƵƌĐŚĂƐĞƐĐƌŝŵĞŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞĨƌŽŵdƌĂǀĞůĞƌƐĂƐƵĂůƚǇĂŶĚ^ƵƌĞƚǇ ŽŵƉĂŶǇŽĨŵĞƌŝĐĂ͘dŚĞƉŽůŝĐǇĐŽǀĞƌƐƚŚĞĨƚ͕ĨŽƌŐĞƌǇ͕ŝĚĞŶƚŝƚǇĨƌĂƵĚ͕ĐŽŵƉƵƚĞƌĐƌŝŵĞ͕ĂŶĚŵŽŶĞƚĂƌǇĨƌĂƵĚǁŝƚŚ ĂƐŝŶŐůĞůŽƐƐůŝŵŝƚŽĨΨϭ͕ϬϬϬ͕ϬϬϬĂŶĚĂĚĞĚƵĐƚŝďůĞŽĨΨϱ͕ϬϬϬƉĞƌŽĐĐƵƌƌĞŶĐĞ͘ ǇďĞƌ/ŶĐŝĚĞŶƚ/ŶƐƵƌĂŶĐĞʹdŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƉƵƌĐŚĂƐĞƐǇďĞƌ/ŶĐŝĚĞŶƚZĞƐƉŽŶƐĞŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞƚŚƌŽƵŐŚ ƚŚĞƵƚŚŽƌŝƚǇ͘dŚĞŵĂǆŝŵƵŵƐŝŶŐůĞůŝŵŝƚŽĨŝŶƐƵƌĂŶĐĞŝƐΨϭ͕ϬϬϬ͕ϬϬϬ ĚĞƋƵĂĐǇŽĨWƌŽƚĞĐƚŝŽŶ
ƵƌŝŶŐƚŚĞƉĂƐƚƚŚƌĞĞĨŝƐĐĂůǇĞĂƌƐ͕ŶŽŶĞŽĨƚŚĞĂďŽǀĞƉƌŽŐƌĂŵƐŽĨƉƌŽƚĞĐƚŝŽŶĞǆƉĞƌŝĞŶĐĞĚƐĞƚƚůĞŵĞŶƚƐŽƌ ũƵĚŐŵĞŶƚƐƚŚĂƚĞǆĐĞĞĚĞĚƉŽŽůĞĚŽƌŝŶƐƵƌĞĚĐŽǀĞƌĂŐĞ͘
416 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϰ
EŽƚĞϭϯͲ &ƵŶĚĂůĂŶĐĞ
&ƵŶĚĂůĂŶĐĞŽŵŵŝƚŵĞŶƚƐ
/ŶƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ĐŽŵŵŝƚƚĞĚƌĞƐĞƌǀĞƐŝŶĐůƵĚĞ͗ EĂƚƵƌĂůŝƐĂƐƚĞƌ
ŵĞƌŐĞŶĐǇZĞƐĞƌǀĞƐ͗dŚĞƐĞĨƵŶĚƐŵĂǇďĞƵƐĞĚĨŽƌƚŚĞƉƌĞƉĂƌĂƚŝŽŶ͕ƌĞĐŽǀĞƌǇ͕ĂŶĚƌĞƐƚŽƌĂƚŝŽŶŽĨ ƐĞƌǀŝĐĞƐďĞĨŽƌĞ͕ĚƵƌŝŶŐĂŶĚͬŽƌĂĨƚĞƌĂŶĂƚƵƌĂůĚŝƐĂƐƚĞƌ;ƐƵĐŚĂƐĨůŽŽĚ͕ĞĂƌƚŚƋƵĂŬĞ͕ĞƚĐ͘ͿĂƐĚĞĨŝŶĞĚďǇŝƚǇŽĚĞ Ϯ͘ϮϬ͘ϬϮϬ͘
dŚĞƚĂƌŐĞƚŝƐΨϭϬ͕ϬϬϬ͕ϬϬϬĂŶĚǁŝůůďĞƌĞǀŝĞǁĞĚĞǀĞƌǇĨŝǀĞǇĞĂƌƐďǇĐŽŶĚƵĐƚŝŶŐĂƌŝƐŬĂŶĂůǇƐŝƐŽĨĂůůŝƚǇĂƐƐĞƚƐ͕ ŝŶƐƵƌĂŶĐĞůĞǀĞůƐ͕ĂŶĚƉŽƚĞŶƚŝĂůĨĞĚĞƌĂůͬƐƚĂƚĞĐŽŶƚƌŝďƵƚŝŽŶƐƚŽǁĂƌĚƐĚŝƐĂƐƚĞƌƌĞĐŽǀĞƌǇĞĨĨŽƌƚƐ͘&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ :ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇŚĂƐĐŽŵŵŝƚƚĞĚΨϭϬ͕ϬϬϬ͕ϬϬϬĨŽƌƚŚŝƐƉƵƌƉŽƐĞ͘

ĐŽŶŽŵŝĐŽǁŶƚƵƌŶZĞƐĞƌǀĞƐ͗dŚĞƐĞĨƵŶĚƐŵĂǇďĞƵƐĞĚŝŶƐƵĐŚŝŶƐƚĂŶĐĞƐĂƐĂĚĞĐůĂƌĞĚŶĂƚŝŽŶĂů͕ƐƚĂƚĞ͕Žƌ ƌĞŐŝŽŶĂůƌĞĐĞƐƐŝŽŶ͖ůŽƐƐŽĨĂŵĂũŽƌ;ƚŽƉϭϬͿƌĞǀĞŶƵĞͲŐĞŶĞƌĂƚŝŶŐďƵƐŝŶĞƐƐ͖ŽƌĂŶĂƚƵƌĂůĚŝƐĂƐƚĞƌƌĞƐƵůƚŝŶŐŝŶĂ ƐŝŐŶŝĨŝĐĂŶƚĚĞĐůŝŶĞŝŶƌĞǀĞŶƵĞƐ͘dŚĞƐĞƌĞƐĞƌǀĞƐŵĂǇĂůƐŽďĞƵƐĞĚŝĨŽǀĞƌĂůůƌĞǀĞŶƵĞƐĚĞĐƌĞĂƐĞŽƌĞǆƉĞŶĚŝƚƵƌĞƐ ŝŶĐƌĞĂƐĞŵŽƌĞƚŚĂŶϭϬйŽĨƚŚĞƉƌĞǀŝŽƵƐǇĞĂƌ͛ƐĂĐƚƵĂůƌĞǀĞŶƵĞƐŽƌĞǆƉĞŶĚŝƚƵƌĞƐ͘ dŚĞƚĂƌŐĞƚŝƐΨϭϭ͕ϬϬϬ͕ϬϬϬ͕ďĂƐĞĚŽŶĂϭϬͲǇĞĂƌĂŶĂůǇƐŝƐŽĨƚŚĞƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞĨůŽǁƐ;ǁŚŝĐŚŝŶĐůƵĚĞĚ ƚŚĞĨŝŶĂŶĐŝĂůŝŵƉĂĐƚƐŽĨƚŚĞ'ƌĞĂƚZĞĐĞƐƐŝŽŶͿ͘dŚĞƚĂƌŐĞƚǁŝůůďĞĞǀĂůƵĂƚĞĚĂŐĂŝŶŝŶƚŚĞĞǀĞŶƚŽĨĂŶŽƚŚĞƌ ƐŝŐŶŝĨŝĐĂŶƚĞĐŽŶŽŵŝĐĚŽǁŶƚƵƌŶ͘&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇŚĂƐĐŽŵŵŝƚƚĞĚΨϭϭ͕ϬϬϬ͕ϬϬϬ͘ ĂƐŚ&ůŽǁZĞƐĞƌǀĞƐ͗dŚĞƐĞĨƵŶĚƐĂƌĞŵĂŝŶƚĂŝŶĞĚƚŽŚĂǀĞĂĚĞƋƵĂƚĞĐĂƐŚŽŶŚĂŶĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞƵŶĞǀĞŶ ƌĞĐĞŝƉƚŽĨƌĞǀĞŶƵĞ͘&ŽƌĞǆĂŵƉůĞ͕ƉƌŽƉĞƌƚǇƚĂǆĂĐĐŽƵŶƚƐĨŽƌĂůĂƌŐĞƉĞƌĐĞŶƚĂŐĞŽĨĂŶŶƵĂůƌĞǀĞŶƵĞ͕ƚŚĞďƵůŬŽĨ ǁŚŝĐŚŝƐŶŽƚƌĞŵŝƚƚĞĚƵŶƚŝůĞĐĞŵďĞƌĂŶĚDĂǇŽĨĞĂĐŚǇĞĂƌ͘ dŚĞƚĂƌŐĞƚŝƐΨϱ͕ϬϬϬ͕ϬϬϬĂŶĚǁŝůůďĞĚĞƚĞƌŵŝŶĞĚĂŶŶƵĂůůǇďǇĂŶĂůǇǌŝŶŐƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌďǇŵŽŶƚŚĂŶĚ ĐĂůĐƵůĂƚŝŶŐƚŚĞůĂƌŐĞƐƚĐƵŵƵůĂƚŝǀĞĚĞĨŝĐŝƚďĞƚǁĞĞŶƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐ͕ǁŝƚŚĂŵŝŶŝŵƵŵĞǆƉĞĐƚĂƚŝŽŶŽĨ ĂƉƉƌŽǆŝŵĂƚĞůǇϭϬйŽĨŽƉĞƌĂƚŝŶŐĞǆƉĞŶĚŝƚƵƌĞƐƌĞƐĞƌǀĞĚ͘dŚĞĐĂƐŚĨůŽǁƌĞƐĞƌǀĞŝƐĨƵůůǇĨƵŶĚĞĚĂƐŽĨ :ƵŶĞϯϬ͕ϮϬϮϭ͘
ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚZĞƐĞƌǀĞƐ͗dŚĞƐĞĨƵŶĚƐŵĂǇďĞƵƐĞĚĨŽƌĐĂƉŝƚĂůĂƐƐĞƚƐĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞƌĞŚĂďŝůŝƚĂƚŝŽŶ͕ ŝŵƉƌŽǀĞŵĞŶƚ͕ĂŶĚƌĞƉůĂĐĞŵĞŶƚ͘
dŚĞƚĂƌŐĞƚŝƐΨϭϬ͕ϬϬϬ͕ϬϬϬĂŶĚŝƐďĂƐĞĚŽŶĂŶŶƵĂůĚĞƉƌĞĐŝĂƚŝŽŶŽĨĂƐƐĞƚƐ͘&ŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞ ŝƚǇŚĂƐĐŽŵŵŝƚƚĞĚΨϭϬ͕ϬϬϬ͕ϬϬϬ͘
ŽŵŵŝƚƚĞĚƚŽ&ŝƐĐĂůzĞĂƌϮϬϮϬͲϮϬϮϭĐĂƌƌǇŽǀĞƌƐƚŽƚĂůĞĚΨϭ͕ϮϬϵ͕ϴϳϬĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͘ 417 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϱ
ƐƐŝŐŶĞĚ&ƵŶĚĂůĂŶĐĞ
dŚĞŝƚǇŚĂƐƚŚĞĨŽůůŽǁŝŶŐĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞƐŚŽǁŶŽŶƚŚĞďĂůĂŶĐĞƐŚĞĞƚ͗ ƐƐŝŐŶĞĚƚŽƉƵďůŝĐƐĂĨĞƚǇƌĞƉƌĞƐĞŶƚƐƉƌŽƉĞƌƚǇƚĂǆĂĐĐƵŵƵůĂƚĞĚĂŶĚǁŝƚŚŚĞůĚďǇƚŚĞŽƵŶƚǇŽĨZŝǀĞƌƐŝĚĞƚŽďĞ ƵƐĞĚĨŽƌĨŝƌĞƉƌŽƚĞĐƚŝŽŶ͕ĚŝƐĂƐƚĞƌƉƌĞƉĂƌĞĚŶĞƐƐ͕ĨŝƌĞƉƌĞǀĞŶƚŝŽŶ͕ƌĞƐĐƵĞ͕ŚĂǌĂƌĚŽƵƐŵĂƚĞƌŝĂůƐŵŝƚŝŐĂƚŝŽŶ͕ ƚĞĐŚŶŝĐĂůƌĞƐĐƵĞƌĞƐƉŽŶƐĞ͕ŵĞĚŝĐĂůĞŵĞƌŐĞŶĐǇƐĞƌǀŝĐĞƐ͕ĂŶĚƉƵďůŝĐƐĞƌǀŝĐĞĂƐƐŝƐƚƐ͘dŚĞĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞ ƌĞůĂƚĞĚƚŽƚŚŝƐŝƚĞŵĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭŝƐΨϭϭ͕ϰϮϯ͕ϵϯϭ͘ ƐƐŝŐŶĞĚƚŽĐĂƉŝƚĂůƉƌŽũĞĐƚƐŝƐĐŽŵƉƌŝƐĞĚŽĨĐĂƌƌǇŽǀĞƌďĂůĂŶĐĞƐĨŽƌĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͘dŚĞĐĂƉŝƚĂůƉƌŽũĞĐƚĐĂƌƌǇŽǀĞƌ ďĂůĂŶĐĞƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭĂƌĞΨϭϯ͕ϰϯϭ͕Ϭϴϵ͘ĐĐƵŵƵůĂƚĞĚƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƚŚĞŝƚǇ͛ƐƐĂůĞƐƚĂǆDĞĂƐƵƌĞ'ŝƐ ΨϮϴ͕ϱϱϵ͕ϳϰϳĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͘
ĞĨŝĐŝƚ&ƵŶĚĂůĂŶĐĞ
ƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞĨŽůůŽǁŝŶŐĨƵŶĚƐŚĂĚĚĞĨŝĐŝƚĨƵŶĚďĂůĂŶĐĞƐ͗ DĂũŽƌĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ Ψ;ϭ͕ϯϳϳ͕ϭϲϰͿ
EŽŶŵĂũŽƌĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶ ;ϯϰϲ͕ϯϬϵͿ
>ŝďƌĂƌǇĞǀĞůŽƉŵĞŶƚ ;ϭ͕ϰϱϴ͕ϳϴϵͿ
EŽƚĞϭϰͲ 'ŽůĨŽƵƌƐĞDĂŶĂŐĞŵĞŶƚŐƌĞĞŵĞŶƚ
dŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂŶĂŐƌĞĞŵĞŶƚǁŝƚŚ>ĂŶĚŵĂƌŬ'ŽůĨDĂŶĂŐĞŵĞŶƚ>>;ŽƉĞƌĂƚŽƌͿƚŽŵĂŶĂŐĞƚŚĞŐŽůĨ ŽƉĞƌĂƚŝŽŶƐĂƚƚŚĞĐŝƚǇͲŽǁŶĞĚ^ŝůǀĞƌZŽĐŬ'ŽůĨŽƵƌƐĞ͘dŚĞŐƌĞĞŵĞŶƚĞŶƚĞƌĞĚŝŶƚŽŽŶƉƌŝůϲ͕ϮϬϬϰ͕ƐĞƚƐĨŽƌƚŚĂ ĨŝǀĞͲǇĞĂƌƚĞƌŵĐŽŵŵĞŶĐŝŶŐƵƉŽŶƚŚĞĐŽŵƉůĞƚŝŽŶŽĨƚŚĞŐŽůĨĐŽƵƌƐĞ͘KŶ:ĂŶƵĂƌǇϭϰ͕ϮϬϬϱ͕ƚŚĞŐŽůĨĐŽƵƌƐĞǁĂƐ ĚĞĞŵĞĚƚŽďĞĐŽŵƉůĞƚĞĂŶĚŵĂŶĂŐĞŵĞŶƚǁĂƐƚƵƌŶĞĚŽǀĞƌƚŽƚŚĞŽƉĞƌĂƚŽƌ͘dŚĞĐŽŶƚƌĂĐƚŚĂƐďĞĞŶĂŵĞŶĚĞĚĂŶĚ ĞǆƚĞŶĚĞĚŶƵŵĞƌŽƵƐƚŝŵĞƐǁŝƚŚƚŚĞĐƵƌƌĞŶƚĐŽŶƚƌĂĐƚĞǆƉŝƌŝŶŐ:ƵŶĞϯϬ͕ϮϬϮϮ͘dŚĞĐŽŶƚƌĂĐƚƉƌŽǀŝĚĞƐƚŚĂƚƚŚĞ ŽƉĞƌĂƚŽƌǁŝůůŵĂŶĂŐĞƚŚĞĚĂǇƚŽĚĂǇŽƉĞƌĂƚŝŽŶƐ͕ŚŝƌĞĞŵƉůŽǇĞĞƐ͕ƉƌŽǀŝĚĞŐŽůĨƉƌŽƐŚŽƉĂŶĚĨŽŽĚƐĞƌǀŝĐĞƐ͕ ŵĂŶĂŐĞĂůůŵĂƌŬĞƚŝŶŐĂŶĚƉƌŽŵŽƚŝŽŶĂůĂĐƚŝǀŝƚŝĞƐ͕ƉƌĞƉĂƌĞƚŚĞĂŶŶƵĂůďƵĚŐĞƚƌĞƉŽƌƚĨŽƌŽƵŶĐŝůĐŽŶƐŝĚĞƌĂƚŝŽŶ͕ ĂŶĚŵĂŶĂŐĞĂĐĐŽƵŶƚŝŶŐĂŶĚƉĂǇƌŽůůĨƵŶĐƚŝŽŶƐ͘/ŶĂĚĚŝƚŝŽŶƚŽƚŚĞĂŶŶƵĂůƉĂǇŵĞŶƚĨŽƌŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ͕ƚŚĞ ŝƚǇŚĂƐĂĚǀĂŶĐĞĚƚŚĞŽƉĞƌĂƚŽƌΨϮϱϬ͕ϬϬϬƚŽƉĂǇĨŽƌŐŽůĨĐŽƵƌƐĞĞǆƉĞŶƐĞƐ͘dǁŝĐĞĂŵŽŶƚŚƚŚĞŽƉĞƌĂƚŽƌƐƵďŵŝƚƐĂ ƌĞƋƵĞƐƚĨŽƌƌĞŝŵďƵƌƐĞŵĞŶƚƚŽƚŚĞŝƚǇƚŽƌĞƉůĞŶŝƐŚƚŚĞŝƚǇ͛ƐĂĚǀĂŶĐĞ͘/ŶĂĚĚŝƚŝŽŶ͕ƚŚĞĂŐƌĞĞŵĞŶƚƐĞƚƐĨŽƌƚŚƚŚĞ ĞƐƚĂďůŝƐŚŵĞŶƚŽĨĂĐĂƉŝƚĂůƌĞƐĞƌǀĞĨƵŶĚŽĨϮƉĞƌĐĞŶƚŽĨŐƌĞĞŶĨĞĞƐ͘ƵƌŝŶŐƚŚĞĨŝƐĐĂůǇĞĂƌ͕ƚŚĞƌĞƐĞƌǀĞĂůůŽĐĂƚŝŽŶ ǁĂƐƐƵƐƉĞŶĚĞĚ͘&ŽƌƚŚĞĨŝƐĐĂůǇĞĂƌĞŶĚŝŶŐ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞ'ŽůĨŽƵƌƐĞŚĂĚĂůŽƐƐďĞĨŽƌĞƚƌĂŶƐĨĞƌƐŽĨ Ψϲϰϳ͕ϭϬϵ͘
418 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϲ
EŽƚĞϭϱͲ ŽŶƐƚƌƵĐƚŝŽŶŽŵŵŝƚŵĞŶƚƐ
sĂƌŝŽƵƐĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽũĞĐƚƐǁĞƌĞŝŶƉƌŽŐƌĞƐƐĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͘WƌŽũĞĐƚƐĐŽƐƚƐĂƌĞƉĂŝĚŽƵƚŽĨƚŚĞĐĂƉŝƚĂů ŝŵƉƌŽǀĞŵĞŶƚƐĨƵŶĚ͘dŚĞĨŽůůŽǁŝŶŐŵĂƚĞƌŝĂůĐŽŶƐƚƌƵĐƚŝŽŶĐŽŵŵŝƚŵĞŶƚƐ͕ĨŽƌǁŚŝĐŚĨƵŶĚƐŚĂǀĞďĞĞŶĞŶĐƵŵďĞƌĞĚ͕ ĞǆŝƐƚĞĚĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ǁŝƚŚĂŶĞƐƚŝŵĂƚĞĚĐŽƐƚƚŽĐŽŵƉůĞƚĞ͘

ǆƉĞŶĚŝƚƵƌĞƐ
WƌŽũĞĐƚ ŽŶƚƌĂĐƚ ƚŽĚĂƚĞĂƐŽĨ ZĞŵĂŝŶŝŶŐ
WƌŽũĞĐƚEĂŵĞ EƵŵďĞƌ ŵŽƵŶƚ :ƵŶĞϯϬ͕ϮϬϮϭ ŽŵŵŝƚŵĞŶƚƐ
ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ&ƵŶĚ
ƵŶĞWĂůŵƐZŽĂĚ^ƚƌĞĞƚ/ŵƉƌŽǀĞŵĞŶƚƐ ϬϵϭϬϬϰ Ϯ͕ϲϱϬ͕ϬϬϬ Ψ ;Ϯ͕ϲϬϮ͕ϰϱϬͿ Ψ ϰϳ͕ϱϱϬ Ψ ƵŶĞWĂůŵƐƌŝĚŐĞ/ŵƉƌŽǀĞŵĞŶƚ ϭϭϭϮϬϱ ϭϴ͕ϭϳϲ͕ϱϲϱ ;ϯ͕ϭϮϯ͕ϴϳϮͿ ϭϱ͕ϬϱϮ͕ϲϵϯ ^ŝůǀĞƌZŽĐŬ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ/ŵƉƌŽǀĞŵĞŶƚƐ ϭϰϭϱϭϯ ϳ͕ϴϲϬ͕Ϭϰϭ ;ϱ͕ϵϱϰ͕ϴϴϴͿ ϭ͕ϵϬϱ͕ϭϱϰ >YsŝůůĂŐĞŽŵƉůĞƚĞ^ƚƌĞĞƚƐͲZŽĂĚŝĞƚWƌŽũ ϭϱϭϲϬϯ ϭϮ͕ϱϲϳ͕ϭϵϲ ;ϭϭ͕ϵϱϱ͕ϲϯϵͿ ϲϭϭ͕ϱϱϳ >ĂYƵŝŶƚĂyWĂƌŬ ϭϱϭϲϬϵ ϰ͕ϲϯϲ͕ϲϯϵ ;ϯ͕ϲϱϳ͕ϯϳϵͿ ϵϳϵ͕ϮϲϬ ŝƚǇǁŝĚĞƌĂŝŶĂŐĞ
ŶŚĂŶĐĞŵĞŶƚƐ ϭϱϭϲϭϮ ϵ͕ϬϮϱ͕ϴϰϲ ;ϴ͕ϱϲϬ͕ϬϴϮͿ ϰϲϱ͕ϳϲϰ ,^/WdƌĂĨĨŝĐ^ŝŐŶĂů/ŶƚĞƌĐŽŶŶĞĐƚEĞƚǁŽƌŬ ϮϬϭϲϬϮ Ϯ͕Ϯϲϴ͕ϯϮϯ ;ϭ͕ϵϯϭ͕ϱϲϴͿ ϯϯϲ͕ϳϱϱ >ĂYƵŝŶƚĂ>ĂŶĚƐĐĂƉĞZĞŶŽǀĂƚŝŽŶ/ŵƉƌŽǀĞŵĞŶƚ ϮϬϭϲϬϯ ϴ͕ϱϱϰ͕ϳϵϮ ;ϯ͕ϯϰϲ͕ϴϰϵͿ ϱ͕ϮϬϳ͕ϵϰϯ ŝǀŝĐĞŶƚĞƌĂŵƉƵƐ>ĂŬĞͬ/ƌƌŝŐĂƚŝŽŶŽŶǀĞƌ ϮϬϭϲϬϲ ϲϳϱ͕ϮϳϬ ;ϭϱϭ͕ϬϬϳͿ ϱϮϰ͕Ϯϲϯ ^ŝůǀĞƌƌŽĐŬ
ǀĞŶƚ^ƉĂĐĞ ϮϬϭϲϬϴ ϳ͕ϯϬϰ͕ϱϬϯ ;ϳ͕ϬϬϭ͕ϰϬϲͿ ϯϬϯ͕Ϭϵϳ tĂƐŚŝŶŐƚŽŶ^ƚƌĞĞƚĂƚ&ƌĞĚtĂƌŝŶŐƌ ϮϬϭϳϬϭ ϭ͕ϴϲϬ͕ϳϰϰ ;ϭ͕ϱϵϭ͕ϳϭϵͿ Ϯϲϵ͕ϬϮϱ

ŝƐĞŶŚŽǁĞƌZĞƚĞŶƚŝŽŶĂƐŝŶ>ĂŶĚƐĐĂƉĞ ϮϬϭϳϬϰ ϳϱϬ͕ϬϬϬ ;ϯϲϱ͕ϵϲϭͿ ϯϴϰ͕Ϭϯϵ ǀĞϱϯ:ĞĨĨĞƌƐŽŶ^ƚZŽƵŶĚĂďŽƵƚ ϮϬϭϳϬϵ Ϯ͕ϭϬϭ͕ϲϭϳ ;ϮϮϬ͕ϭϲϬͿ ϭ͕ϴϴϭ͕ϰϱϳ ŽǀĞWƵďůŝĐZĞƐƚƌŽŽŵ ϮϬϭϴϬϭ ϱϵϬ͕ϬϬϬ ;ϱϭϲ͕ϰϱϵͿ ϳϯ͕ϱϰϭ ŽƌƉŽƌĂƚĞzĂƌĚĚŵŝŶKĨĨŝĐĞƐΘƌĞǁ ϮϬϭϴϬϱ ϰϭϭ͕Ϭϭϯ ;ϱϱ͕ϳϳϯͿ ϯϱϱ͕ϮϰϬ sŝůůĂŐĞƌƚWůĂǌĂWƌŽŵĞŶĂĚĞΘƵůƚƵƌĂůĂŵƉƵƐ ϮϬϭϵϬϭ ϲϭϬ͕ϬϬϬ ;ϯ͕ϴϰϱͿ ϲϬϲ͕ϭϱϱ ǀĞŶƵĞϱϬƌŝĚŐĞ^ƉĂŶŶŝŶŐdŚĞ
ǀĂĐƵĂƚŝŽŶŚĂŶŶĞů ϮϬϭϵϬϮ ϭϲ͕ϯϰϵ͕ϬϬ Ϭ ϭϲ͕ϯϰϬ͕ϭϯϭ ;ϴ͕ϴϲϵͿ >Y^ŬĂƚĞWĂƌŬŽŶǀĞƌƚŽKƚŚĞƌĐƚŝǀŝƚǇ ϮϬϭϵϬϯ Ϯϲϯ͕ϬϬϬ Ϯϲϯ͕ϬϬϬ Ͳ ,ǁǇϭϭϭŽƌƌŝĚŽƌƌĞĂWůĂŶ/ŵƉůĞŵĞŶƚĂƚŝŽŶ ϮϬϭϵϬϱ ϭ͕ϮϱϬ͕ϬϬϬ ;ϯϯϭ͕ϮϬϰͿ ϵϭϴ͕ϳϵϲ &ŝƌĞ^ƚĂƚŝŽŶϳϬZĞǀŝƚĂůŝǌĂƚŝŽŶ ϮϬϭϵϬϳ ϲϴϰ͕ϬϬϬ ;ϱϵϬ͕ϵϵϰͿ ϵϯ͕ϬϬϲ ŝƚǇǁŝĚĞĂƚĐŚĂƐŝŶDŽĚŝĨŝĐĂƚŝŽŶ ϮϬϭϵϬϴ ϮϱϬ͕ϬϬϬ ϮϱϬ͕ϬϬϬ Ͳ ŝƚǇǁŝĚĞDŝƐĐ/ŵƉƌŽǀĞŵĞŶƚƐ ϮϬϭϵϬϵ ϮϮϴ͕ϲϳϯ ;Ϯϭϰ͕ϬϵϴͿ ϭϰ͕ϱϳϱ tĂƐŚŝŶŐƚŽŶ^ƚĂƚǀĞϱϬͬĂůůĞdĂŵƉŝĐŽ ϮϬϭϵϮϯ ϭϵϱ͕ϰϬϬ ;ϮϬ͕ϳϰϱͿ ϭϳϰ͕ϲϱϱ DŽŶƌŽĞ^ƚƌĞĞƚWĂǀĞŵĞŶƚZĞŚĂď;ǀĞϱϮͿ ϮϬϮϬϬϭ ϵϰϭ͕ϬϬϬ ;ϱϮ͕ϱϴϯͿ ϴϴϴ͕ϰϭϳ ŝƚǇǁŝĚĞDŝƐĐĞůůĂŶĞŽƵƐŝŵƉƌŽǀĞŵĞŶƚƐ ϮϬϮϬϬϮ ϭϴϰ͕ϬϬϬ ;ϭϰϯ͕ϬϮϳͿ ϰϬ͕ϵϳϯ ŝƚǇǁŝĚĞWƵďůŝĐ^ĂĨĞƚǇĂŵĞƌĂ^ǇƐƚĞŵ ϮϬϮϬϬϯ ϭ͕ϯϳϮ͕Ϯϵϲ ;ϭ͕Ϯϱϳ͕ϯϱϬͿ ϭϭϰ͕ϵϰϲ ^ŝůǀĞƌZŽĐŬZĞƚĞŶƚŝŽŶĂƐŝŶ^Žŝů^ƚĂďŝůŝǌĂƚŝŽŶ ϮϬϮϬϬϳ ϰϯϳ͕ϮϱϬ ;ϯϯ͕ϮϵϳͿ ϰϬϯ͕ϵϱϰ :ĞĨĨĞƌƐŽŶ^ƚͬ/ͲϭϬ;ĐŽŶƚƌŝďƵƚŝŽŶĐŽƐƚƐͿ ϵϵϵϵϬϮ ϳϴϴ͕Ϯϵϳ ;ϳϱϯ͕ϯϭϬͿ ϯϰ͕ϵϴϳ 'ĞŶĞƌĂů&ƵŶĚ
^ŝůǀĞƌZŽĐŬ
ǀĞŶƚ^ƉĂĐĞDŽĚƵůĂƌƵŝůĚ ϮϬϭϴϬϲ ϵϮϳ͕Ϭϵϳ ;ϵϮϬ͕ϯϵϴͿ ϲ͕ϲϵϵ 419 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϳ
EŽƚĞϭϲͲ ZĞŝŵďƵƌƐĞŵĞŶƚŐƌĞĞŵĞŶƚƐ
KŶ^ĞƉƚĞŵďĞƌϵ͕ϮϬϭϰ͕ƚŚĞŝƚǇĞŶƚĞƌĞĚŝŶƚŽĂƐĂůĞƐƚĂǆƐŚĂƌŝŶŐĂŐƌĞĞŵĞŶƚǁŝƚŚKŶĞ ůĞǀĞŶ>ĂYƵŝŶƚĂ>>
;͞,ŽďďǇ>ŽďďǇ͟Ϳ͘hŶĚĞƌƚŚĞƚĞƌŵƐŽĨƚŚĞĂŐƌĞĞŵĞŶƚƚŚĞŝƚǇƐŚĂůůŵĂŬĞƋƵĂƌƚĞƌůǇƉĂǇŵĞŶƚƐŽĨϱϬƉĞƌĐĞŶƚŽĨĂŶǇ ƐĂůĞƐƚĂǆŐĞŶĞƌĂƚĞĚĨƌŽŵ,ŽďďǇ>ŽďďǇŝŶĂŶĂŵŽƵŶƚŶŽƚƚŽĞǆĐĞĞĚΨϰϬϬ͕ϬϬϬŽǀĞƌĂŶĞŝŐŚƚͲǇĞĂƌƉĞƌŝŽĚ͘ƵĞƚŽ ƚŚĞƌĞƉŽƌƚŝŶŐŽĨƐĂůĞƐƚĂǆŝŶĨŽƌŵĂƚŝŽŶďǇƚŚĞĂůŝĨŽƌŶŝĂĞƉĂƌƚŵĞŶƚŽĨdĂǆĂŶĚ&ĞĞĚŵŝŶŝƐƚƌĂƚŝŽŶƚŽƚŚĞŝƚǇ͕ ƚŚĞƌĞŝŵďƵƌƐĞŵĞŶƚƉĂǇŵĞŶƚƐďǇƚŚĞŝƚǇǁŝůůůĂŐďǇŽŶĞƋƵĂƌƚĞƌ͘dŚĞĂŐƌĞĞŵĞŶƚƚĞƌŵŝŶĂƚĞƐǁŚĞŶĞŝƚŚĞƌƚŚĞ ΨϰϬϬ͕ϬϬϬůŝŵŝƚŝƐƌĞĂĐŚĞĚŽƌŝŶĞŝŐŚƚǇĞĂƌƐǁŚŝĐŚĞǀĞƌĐŽŵĞƐĨŝƌƐƚ͘dŚĞ,ŽďďǇ>ŽďďǇďƵƐŝŶĞƐƐŽƉĞŶĞĚŝŶ ĞĐĞŵďĞƌϮϬϭϰ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞŝƚǇŵĂĚĞΨϮϵϱ͕ϳϮϳŝŶƌĞŝŵďƵƌƐĞŵĞŶƚƉĂǇŵĞŶƚƐƚŽƚŚĞŽǁŶĞƌůĞĂǀŝŶŐ ĂŶŽƵƚƐƚĂŶĚŝŶŐďĂůĂŶĐĞŽĨΨϭϬϰ͕Ϯϳϯ͘
EŽƚĞϭϳͲ ^ƵĐĐĞƐƐŽƌŐĞŶĐǇdƌƵƐƚĨŽƌƐƐĞƚƐŽĨ&ŽƌŵĞƌZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ KŶĞĐĞŵďĞƌϮϵ͕ϮϬϭϭ͕ƚŚĞĂůŝĨŽƌŶŝĂ^ƵƉƌĞŵĞŽƵƌƚƵƉŚĞůĚƐƐĞŵďůǇŝůůϭyϮϲ;͞ƚŚĞŝůů͟ͿƚŚĂƚƉƌŽǀŝĚĞƐĨŽƌ ƚŚĞĚŝƐƐŽůƵƚŝŽŶŽĨĂůůƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐŝĞƐŝŶƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘dŚŝƐĂĐƚŝŽŶŝŵƉĂĐƚĞĚƚŚĞƌĞƉŽƌƚŝŶŐĞŶƚŝƚǇ ŽĨƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂƚŚĂƚƉƌĞǀŝŽƵƐůǇŚĂĚƌĞƉŽƌƚĞĚĂƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇǁŝƚŚŝŶƚŚĞƌĞƉŽƌƚŝŶŐĞŶƚŝƚǇŽĨƚŚĞ ŝƚǇĂƐĂďůĞŶĚĞĚĐŽŵƉŽŶĞŶƚƵŶŝƚ͘
dŚĞŝůůƉƌŽǀŝĚĞƐƚŚĂƚƵƉŽŶĚŝƐƐŽůƵƚŝŽŶŽĨĂƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇ͕ĞŝƚŚĞƌƚŚĞĐŝƚǇŽƌĂŶŽƚŚĞƌƵŶŝƚŽĨůŽĐĂů ŐŽǀĞƌŶŵĞŶƚǁŝůůĂŐƌĞĞƚŽƐĞƌǀĞĂƐƚŚĞ͞ƐƵĐĐĞƐƐŽƌĂŐĞŶĐǇ͟ƚŽŚŽůĚƚŚĞĂƐƐĞƚƐƵŶƚŝůƚŚĞǇĂƌĞĚŝƐƚƌŝďƵƚĞĚƚŽŽƚŚĞƌ ƵŶŝƚƐŽĨƐƚĂƚĞĂŶĚůŽĐĂůŐŽǀĞƌŶŵĞŶƚ͘KŶ:ĂŶƵĂƌǇϯ͕ϮϬϭϭ͕ƚŚĞŝƚǇŽƵŶĐŝůĞůĞĐƚĞĚƚŽďĞĐŽŵĞƚŚĞ^ƵĐĐĞƐƐŽƌ ŐĞŶĐǇĨŽƌƚŚĞ&ŽƌŵĞƌZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ;͚&ŽƌŵĞƌŐĞŶĐǇ͟ͿŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝůůĂƐƉĂƌƚŽĨŝƚǇ ƌĞƐŽůƵƚŝŽŶŶƵŵďĞƌϮϬϭϮͲϬϬϮ͘
ĨƚĞƌĞŶĂĐƚŵĞŶƚŽĨƚŚĞůĂǁ͕ǁŚŝĐŚŽĐĐƵƌƌĞĚŽŶ:ƵŶĞϮϴ͕ϮϬϭϭ͕ƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐŝĞƐŝŶƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ ĐĂŶŶŽƚĞŶƚĞƌŝŶƚŽŶĞǁƉƌŽũĞĐƚƐ͕ŽďůŝŐĂƚŝŽŶƐŽƌĐŽŵŵŝƚŵĞŶƚƐ͘^ƵďũĞĐƚƚŽƚŚĞĐŽŶƚƌŽůŽĨĂŶĞǁůǇĞƐƚĂďůŝƐŚĞĚ ŽǀĞƌƐŝŐŚƚďŽĂƌĚ͕ƌĞŵĂŝŶŝŶŐĂƐƐĞƚƐĐĂŶŽŶůǇďĞƵƐĞĚƚŽƉĂǇĞŶĨŽƌĐĞĂďůĞŽďůŝŐĂƚŝŽŶƐŝŶĞǆŝƐƚĞŶĐĞĂƚƚŚĞĚĂƚĞŽĨ ĚŝƐƐŽůƵƚŝŽŶ;ŝŶĐůƵĚŝŶŐƚŚĞĐŽŵƉůĞƚŝŽŶŽĨĂŶǇƵŶĨŝŶŝƐŚĞĚƉƌŽũĞĐƚƐƚŚĂƚǁĞƌĞƐƵďũĞĐƚƚŽůĞŐĂůůǇĞŶĨŽƌĐĞĂďůĞ ĐŽŶƚƌĂĐƚƵĂůĐŽŵŵŝƚŵĞŶƚƐͿ͘
/ŶĨƵƚƵƌĞĨŝƐĐĂůǇĞĂƌƐ͕ƐƵĐĐĞƐƐŽƌĂŐĞŶĐŝĞƐǁŝůůŽŶůǇďĞĂůůŽĐĂƚĞĚƌĞǀĞŶƵĞŝŶƚŚĞĂŵŽƵŶƚƚŚĂƚŝƐŶĞĐĞƐƐĂƌǇƚŽƉĂǇ ƚŚĞĞƐƚŝŵĂƚĞĚĂŶŶƵĂůŝŶƐƚĂůůŵĞŶƚƉĂǇŵĞŶƚƐŽŶĞŶĨŽƌĐĞĂďůĞŽďůŝŐĂƚŝŽŶƐŽĨƚŚĞ&ŽƌŵĞƌŐĞŶĐǇƵŶƚŝůĂůů ĞŶĨŽƌĐĞĂďůĞŽďůŝŐĂƚŝŽŶƐŽĨƚŚĞƉƌŝŽƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇŚĂǀĞďĞĞŶƉĂŝĚŝŶĨƵůůĂŶĚĂůůĂƐƐĞƚƐŚĂǀĞďĞĞŶ ůŝƋƵŝĚĂƚĞĚ͘
/ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƚŝŵĞůŝŶĞƐĞƚĨŽƌƚŚŝŶƚŚĞŝůů;ĂƐŵŽĚŝĨŝĞĚďǇƚŚĞĂůŝĨŽƌŶŝĂ^ƵƉƌĞŵĞŽƵƌƚŽŶ ĞĐĞŵďĞƌϮϵ͕ϮϬϭϭͿĂůůƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐŝĞƐŝŶƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂǁĞƌĞĚŝƐƐŽůǀĞĚĂŶĚĐĞĂƐĞĚƚŽ ŽƉĞƌĂƚĞĂƐĂůĞŐĂůĞŶƚŝƚǇĂƐŽĨ&ĞďƌƵĂƌǇϭ͕ϮϬϭϮ͘
dŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇƚŽƚŚĞ&ŽƌŵĞƌŐĞŶĐǇŝƐƌĞƉŽƌƚĞĚĂƐĂĨŝĚƵĐŝĂƌǇĨƵŶĚ;ƉƌŝǀĂƚĞƉƵƌƉŽƐĞƚƌƵƐƚĨƵŶĚͿ͘ 420 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϴ
ĂƐŚĂŶĚ/ŶǀĞƐƚŵĞŶƚƐ
ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐƌĞƉŽƌƚĞĚŝŶƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĐŽŶƐŝƐƚĞĚŽĨƚŚĞĨŽůůŽǁŝŶŐ͗ ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐƉŽŽůĞĚǁŝƚŚƚŚĞŝƚǇ ΨϮϲ͕Ϯϳϵ͕ϭϯϮ ĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐǁŝƚŚĨŝƐĐĂůĂŐĞŶƚ ϭ͕ϰϮϭ ΨϮϲ͕ϮϴϬ͕ϱϱϯ
^ĞĞŶŽƚĞϮĨŽƌƌĞƋƵŝƌĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐĚŝƐĐůŽƐƵƌĞƐ͘ >ŽĂŶƐZĞĐĞŝǀĂďůĞ
KǁŶĞƌWĂƌƚŝĐŝƉĂƚŝŽŶŐƌĞĞŵĞŶƚʹdŽƌƌĞEŝƐƐĂŶ
/Ŷ:ƵŶĞϮϬϭϭ͕ƚŚĞ&ŽƌŵĞƌŐĞŶĐǇĞŶƚĞƌĞĚŝŶƚŽĂŶKǁŶĞƌWĂƌƚŝĐŝƉĂƚŝŽŶŐƌĞĞŵĞŶƚ;KWͿǁŝƚŚĂŶĂƵƚŽĚĞĂůĞƌ͕ DĞŐĂĞĂůĞƌ͕>>;͞dŽƌƌĞEŝƐƐĂŶ͟ͿƚŚĂƚƉƌŽǀŝĚĞƐĨŽƌƚŚĞ&ŽƌŵĞƌŐĞŶĐǇƚŽƉƌŽǀŝĚĞĂƌĞŚĂďŝůŝƚĂƚŝŽŶůŽĂŶƚŽdŽƌƌĞ EŝƐƐĂŶŽĨƵƉƚŽΨϭ͕ϱϬϬ͕ϬϬϬĨŽƌƚŚĞƌĞŵŽĚĞůŝŶŐŽĨƚŚĞĞǆŝƐƚŝŶŐĚĞĂůĞƌƐŚŝƉĂŶĚĂŶĞǆƉĂŶƐŝŽŶŽĨƚŚĞĚĞĂůĞƌƐŚŝƉ ĨĂĐŝůŝƚǇƚŽĂĐĐŽŵŵŽĚĂƚĞĂŶĞǁůŝŶĞŽĨĞůĞĐƚƌŝĐĂŶĚĐŽŵŵĞƌĐŝĂůǀĞŚŝĐůĞƐ͘dŚĞŶĞǁĞǆƉĂŶƐŝŽŶǁŝůůĂůƐŽŝŶĐůƵĚĞ ƐĞƌǀŝĐĞĂŶĚƉĂƌƚƐƐĂůĞƐĨĂĐŝůŝƚŝĞƐ͘/ŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞKW͕dŽƌƌĞEŝƐƐĂŶŚĂƐĞǆĞĐƵƚĞĚĂƉƌŽŵŝƐƐŽƌǇŶŽƚĞ͕ ǁŚŝĐŚŝƐƐĞĐƵƌĞĚďǇĂƐƵďŽƌĚŝŶĂƚĞĚĚĞĞĚŽĨƚƌƵƐƚ͕ĂŶĚĂŶŽƉĞƌĂƚŝŶŐĐŽǀĞŶĂŶƚ͘dŚĞůŽĂŶǁŝůůďĞƌĞƉĂŝĚďǇ ĐƌĞĚŝƚŝŶŐĨƵƚƵƌĞƐĂůĞƐĂŶĚƉƌŽƉĞƌƚǇƚĂǆŝŶĐƌĞŵĞŶƚƚĂǆĞƐŐĞŶĞƌĂƚĞĚŽŶƚŚĞƐŝƚĞƵŶƚŝůƚŚĞĐƵŵƵůĂƚŝǀĞƚĂǆĞƐ ĐŽůůĞĐƚĞĚĞƋƵĂůƐƚŚĞůŽĂŶĂŵŽƵŶƚ͘/ĨEŝƐƐĂŶDŽƚŽƌŽŵƉĂŶǇĐĞĂƐĞƐƚŽĞǆŝƐƚ͕ƚŚĞŶŽƚĞǁŝůůďĞĐĂŶĐĞůůĞĚ͕ĂŶĚƚŚĞ ŽƉĞƌĂƚŝŶŐĐŽǀĞŶĂŶƚǁŝůůƚĞƌŵŝŶĂƚĞ͘ƚƚŚĞĞŶĚŽĨƚŚĞƚĞŶͲǇĞĂƌŽƉĞƌĂƚŝŶŐĐŽǀĞŶĂŶƚ͕ƚŚĞŽƉĞƌĂƚŝŶŐĐŽǀĞŶĂŶƚǁŝůů ƚĞƌŵŝŶĂƚĞ͕ĂŶĚƚŚĞŶŽƚĞǁŝůůďĞĐĂŶĐĞůůĞĚ͕ĂŶĚĂŶǇŽƵƚƐƚĂŶĚŝŶŐůŽĂŶďĂůĂŶĐĞǁŝůůďĞĨŽƌŐŝǀĞŶ͘dŚĞďĂůĂŶĐĞĂƚ :ƵŶĞϯϬ͕ϮϬϮϭŝƐΨϭ͕Ϭϭϯ͕ϰϵϰ͘
ƵĞĨƌŽŵŽƚŚĞƌ'ŽǀĞƌŶŵĞŶƚƐ
>ĂYƵŝŶƚĂ>ŝďƌĂƌǇ
/ŶƉƌŝůϮϬϬϱ͕ĂŶĂĚǀĂŶĐĞŽĨΨϮ͕ϰϵϬ͕ϮϳϯǁĂƐŵĂĚĞĨƌŽŵƚŚĞĨŽƌŵĞƌƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇƚŽƉƌŽǀŝĚĞĨƵŶĚŝŶŐ ĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƚŚĞƉƵďůŝĐůŝďƌĂƌǇ͘dŚĞůŽĂŶĂĐĐƌƵĞƐŝŶƚĞƌĞƐƚĂƚƚŚĞĞĂƌŶŝŶŐƐƌĂƚĞŽĨƚŚĞŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚ ƉŽŽůĨƵŶĚ͘dŚĞƌĞŵĂŝŶŝŶŐďĂůĂŶĐĞŽĨƚŚŝƐůŽĂŶĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ŝƐΨϭ͕ϰϱϴ͕ϳϵϬ͘ ĞĨĞƌƌĞĚKƵƚĨůŽǁƐŽĨZĞƐŽƵƌĐĞƐ
ƐĚĞďƚŝƐƌĞĨƵŶĚĞĚ͕ƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĐĂƌƌǇŝŶŐǀĂůƵĞŽĨƚŚĞƌĞĨƵŶĚĞĚĚĞďƚĂŶĚƚŚĞƌĞĂĐƋƵŝƐŝƚŝŽŶƉƌŝĐĞ ŝƐƌĞĐŽƌĚĞĚĂƐĂĚĞĨĞƌƌĞĚŽƵƚĨůŽǁŽĨƌĞƐŽƵƌĐĞƐĂŶĚĂŵŽƌƚŝǌĞĚŽǀĞƌƚŚĞƐŚŽƌƚĞƌŽĨƚŚĞŶĞǁŽƌƌĞĨƵŶĚĞĚĚĞďƚ͕ ǁŚŝĐŚĞǀĞƌŝƐƐŚŽƌƚĞƌ͘ĐƚŝǀŝƚǇĚƵƌŝŶŐƚŚĞĨŝƐĐĂůǇĞĂƌŝƐĐŽŵƉƌŝƐĞĚŽĨƚŚĞĨŽůůŽǁŝŶŐ͗ ĂůĂŶĐĞĂƚ ĂůĂŶĐĞ
:ƵůǇϭ͕ϮϬϮϬ ĚĚŝƚŝŽŶƐ ĞĚƵĐƚŝŽŶƐ :ƵŶĞϯϬ͕ϮϬϮϭ
ĞĨĞƌƌĞĚĐŚĂƌŐĞŽŶƌĞĨƵŶĚŝŶŐ Ψϵ͕ϳϭϱ͕ϵϳϱ ΨϭϬ͕ϯϵϭ͕ϳϭϬ Ψϯ͕Ϯϭϲ͕ϭϴϭ Ψϭϲ͕ϴϵϭ͕ϱϬϰ 421 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϲϵ
>ŽŶŐͲdĞƌŵĞďƚ
ĚĞƐĐƌŝƉƚŝŽŶŽĨůŽŶŐͲƚĞƌŵĚĞďƚŽƵƚƐƚĂŶĚŝŶŐŽĨƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ĨŽůůŽǁƐ͗ ĂůĂŶĐĞĂƚ ĂůĂŶĐĞ ƵĞǁŝƚŚŝŶ
:ƵůǇϭ͕ϮϬϮϬ ĚĚŝƚŝŽŶƐ ZĞƉĂǇŵĞŶƚƐ :ƵŶĞϯϬ͕ϮϬϮϭ KŶĞǇĞĂƌ dĂǆĂůůŽĐĂƚŝŽŶďŽŶĚƐ ϭϳϲ͕ϵϬϬ͕ϬϬϬ Ψ Ψϭϱϲ͕ϵϭϱ͕ϬϬϬ Ψϭϰϲ͕ϭϱϱ͕ϬϬϬ Ψϭϴϳ͕ϲϲϬ͕ϬϬϬ Ψϭϭ͕ϵϴϱ͕ϬϬϬ ŝƚǇůŽĂŶƐ ϯϮ͕ϱϴϳ͕ϭϳϴ ϳϯϵ͕ϵϯϯ ϯ͕Ϯϯϴ͕ϴϯϯ ϯϬ͕Ϭϴϴ͕Ϯϳϴ ϯ͕ϯϬϯ͕ϲϭϬ hŶĂŵŽƌƚŝǌĞĚƉƌĞŵŝƵŵƐͬ
ĚŝƐĐŽƵŶƚƐ ϵ͕ϴϮϳ͕Ϯϯϰ ϭϭ͕ϮϰϬ͕ϱϴϯ Ͳ ;ϭ͕ϰϭϯ͕ϯϰϵͿ Ͳ dŽƚĂů ΨϮϭϵ͕ϯϭϰ͕ϰϭϮ Ψϭϱϳ͕ϲϱϰ͕ϵϯϯ ΨϭϲϬ͕ϲϯϰ͕ϰϭϲ ΨϮϭϲ͕ϯϯϰ͕ϵϮϵ Ψϭϱ͕Ϯϴϴ͕ϲϭϬ ϮϬϭϯ^ĞƌŝĞƐ
KŶĞĐĞŵďĞƌϭϳ͕ϮϬϭϯ͕ƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇŝƐƐƵĞĚƐƵďŽƌĚŝŶĂƚĞƚĂǆĂůůŽĐĂƚŝŽŶƌĞĨƵŶĚŝŶŐďŽŶĚƐŝŶƚŚĞĂŵŽƵŶƚ ŽĨΨϵϳ͕ϭϵϬ͕ϬϬϬƚŽƌĞĨŝŶĂŶĐĞŽƵƚƐƚĂŶĚŝŶŐůŽŶŐƚĞƌŵŽďůŝŐĂƚŝŽŶƐŚĞůĚďǇƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇ͘dŚĞϮϬϭϯ^ĞƌŝĞƐ ƚĂǆĂůůŽĐĂƚŝŽŶďŽŶĚƐǁĞƌĞŝƐƐƵĞĚĂƚĂƉƌĞŵŝƵŵŽĨΨϲ͕Ϭϱϲ͕ϮϴϬĂŶĚŝƐƐƵĂŶĐĞĐŽƐƚƐŽĨΨϰϴϬ͕ϬϬϭ͘ /ŶƚĞƌĞƐƚƌĂƚĞƐŽŶƚŚĞďŽŶĚƐƌĂŶŐĞĨƌŽŵϯ͘ϬϬƉĞƌĐĞŶƚƚŽϱ͘ϬϬƉĞƌĐĞŶƚĂŶĚĂƌĞƉĂǇĂďůĞƐĞŵŝͲĂŶŶƵĂůůǇŽŶDĂƌĐŚϭ ĂŶĚ^ĞƉƚĞŵďĞƌϭŽĨĞĂĐŚǇĞĂƌƵŶƚŝůŵĂƚƵƌŝƚǇ͘dŚĞŝŶƚĞƌĞƐƚĂŶĚƉƌŝŶĐŝƉĂůŽĨƚŚĞďŽŶĚƐĂƌĞƉĂǇĂďůĞƐŽůĞůǇĨƌŽŵ ƉƌŽƉĞƌƚǇƚĂǆƌĞǀĞŶƵĞ͘
ƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚǇĞĂƌ͕ƚŚĞŐĞŶĐǇŝƐƐƵĞĚdĂǆĂůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐ͕^ĞƌŝĞƐϮϬϮϭƚŽƌĞĨƵŶĚƚŚĞϮϬϭϯ dĂǆůůŽĐĂƚŝŽŶŽŶĚƐ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞϮϬϭϯdĂǆůůŽĐĂƚŝŽŶďŽŶĚƐǁĞƌĞĚĞĨĞĂƐĞĚ͘ ϮϬϭϯ^ĞƌŝĞƐ
KŶĞĐĞŵďĞƌϭϳ͕ϮϬϭϯ͕ƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇŝƐƐƵĞĚƐƵďŽƌĚŝŶĂƚĞƚĂǆĂůůŽĐĂƚŝŽŶƌĞĨƵŶĚŝŶŐďŽŶĚƐŝŶƚŚĞĂŵŽƵŶƚ ŽĨΨϮϯ͕Ϭϱϱ͕ϬϬϬƚŽƌĞĨŝŶĂŶĐĞŽƵƚƐƚĂŶĚŝŶŐůŽŶŐƚĞƌŵŽďůŝŐĂƚŝŽŶƐŚĞůĚďǇƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇ͘dŚĞϮϬϭϯ^ĞƌŝĞƐ ƚĂǆĂůůŽĐĂƚŝŽŶďŽŶĚƐǁĞƌĞŝƐƐƵĞĚĂƚĂĚŝƐĐŽƵŶƚŽĨΨϴ͕ϵϱϭĂŶĚŝƐƐƵĂŶĐĞĐŽƐƚƐŽĨΨϭϮϮ͕Ϯϳϰ͘ dŚĞďŽŶĚƐĐŽŶƐŝƐƚŽĨΨϯ͕ϳϭϬ͕ϬϬϬŽĨƚĞƌŵďŽŶĚƐƚŚĂƚĂĐĐƌƵĞŝŶƚĞƌĞƐƚĂƚϱ͘ϮϰϬƉĞƌĐĞŶƚĂŶĚŵĂƚƵƌĞŽŶ^ĞƉƚĞŵďĞƌ ϭ͕ϮϬϮϲ͕Ψϰ͕ϯϯϱ͕ϬϬϬŽĨƚĞƌŵďŽŶĚƐƚŚĂƚĂĐĐƌƵĞŝŶƚĞƌĞƐƚĂƚϱ͘ϱϱϬƉĞƌĐĞŶƚĂŶĚŵĂƚƵƌĞŽŶ^ĞƉƚĞŵďĞƌϭ͕ϮϬϮϵ͕ĂŶĚ Ψϱ͕ϭϭϱ͕ϬϬϬŽĨƚĞƌŵďŽŶĚƐƚŚĂƚĂĐĐƌƵĞŝŶƚĞƌĞƐƚĂƚϱ͘ϴϮϬƉĞƌĐĞŶƚĂŶĚŵĂƚƵƌĞŽŶ^ĞƉƚĞŵďĞƌϭ͕ϮϬϯϮ͘dŚĞ ƌĞŵĂŝŶŝŶŐΨϵ͕ϴϵϱ͕ϬϬϬŵĂƚƵƌĞƐĂŶŶƵĂůůǇǁŝƚŚƌĂƚĞƌĂŶŐŝŶŐĨƌŽŵϬ͘ϳϲƉĞƌĐĞŶƚƚŽϰ͘ϴϵƉĞƌĐĞŶƚ͘dŚĞŝŶƚĞƌĞƐƚĂŶĚ ƉƌŝŶĐŝƉĂůŽŶƚŚĞďŽŶĚƐĂƌĞƉĂǇĂďůĞĨƌŽŵƉƌŽƉĞƌƚǇƚĂǆƌĞǀĞŶƵĞ͘ ƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚǇĞĂƌ͕ƚŚĞŐĞŶĐǇŝƐƐƵĞĚdĂǆĂůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐ͕^ĞƌŝĞƐϮϬϮϭƚŽƌĞĨƵŶĚƚŚĞϮϬϭϯ dĂǆůůŽĐĂƚŝŽŶŽŶĚƐ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞϮϬϭϯdĂǆůůŽĐĂƚŝŽŶďŽŶĚƐǁĞƌĞĚĞĨĞĂƐĞĚ͘ 422 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϳϬ
ϮϬϭϰ^ĞƌŝĞƐ
KŶ:ƵůǇϵ͕ϮϬϭϰ͕ƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇŝƐƐƵĞĚƚĂǆĂůůŽĐĂƚŝŽŶƌĞĨƵŶĚŝŶŐďŽŶĚƐŝŶƚŚĞĂŵŽƵŶƚŽĨΨϲϱ͕ϲϬϬ͕ϬϬϬ͕ǁŝƚŚ ĂƉƌĞŵŝƵŵŽĨΨϴ͕ϱϰϱ͕ϰϴϮ͕ƚŽƌĞĨŝŶĂŶĐĞŽƵƚƐƚĂŶĚŝŶŐϮϬϬϰ^ĞƌŝĞƐZĞǀĞŶƵĞŽŶĚƐŽĨΨϳϮ͕ϴϲϱ͕ϬϬϬǁŝƚŚŝŶƚĞƌĞƐƚ ƉĂǇŵĞŶƚƐƌĂŶŐŝŶŐďĞƚǁĞĞŶϯƉĞƌĐĞŶƚƚŽϱ͘ϮϱƉĞƌĐĞŶƚ͘dŚĞŶĞƚƉƌŽĐĞĞĚƐŽĨΨϳϯ͕ϰϬϮ͕ϳϬϵ;ĂĨƚĞƌƉĂǇŵĞŶƚŽĨ ΨϱϵϮ͕ϬϭϳŝŶŝƐƐƵĂŶĐĞĐŽƐƚƐͿƉůƵƐĂŶĂĚĚŝƚŝŽŶĂůΨϰ͕ϬϭϮ͕ϲϱϯŽĨϮϬϬϰ^ĞƌŝĞƐƐŝŶŬŝŶŐĨƵŶĚŵŽŶŝĞƐǁĞƌĞƵƐĞĚƚŽ ƉƵƌĐŚĂƐĞh͘^͘'ŽǀĞƌŶŵĞŶƚ^ĞĐƵƌŝƚŝĞƐ͘dŚŽƐĞƐĞĐƵƌŝƚŝĞƐǁĞƌĞĚĞƉŽƐŝƚĞĚŝŶĂŶŝƌƌĞǀŽĐĂďůĞƚƌƵƐƚǁŝƚŚĂŶĞƐĐƌŽǁ ĂŐĞŶƚ͖ĂŶĚŝƐƐƵĞĚƚŽƉĂǇͲŽĨĨΨϳϳ͕ϰϭϱ͕ϯϲϮŽĨƌĞŵĂŝŶŝŶŐƉƌŝŶĐŝƉĂůĂŶĚĂĐĐƌƵĞĚŝŶƚĞƌĞƐƚŽĨϮϬϬϰ^ĞƌŝĞƐ͘ƐĂ ƌĞƐƵůƚ͕ƚŚĞϮϬϬϰ^ĞƌŝĞƐďŽŶĚƐĂƌĞĐŽŶƐŝĚĞƌĞĚƚŽďĞĚĞĨĞĂƐĞĚĂŶĚƚŚĞůŝĂďŝůŝƚǇĨŽƌƚŚŽƐĞďŽŶĚƐŚĂƐďĞĞŶ ƌĞŵŽǀĞĚĨƌŽŵƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇ͛ƐůŽŶŐͲƚĞƌŵĚĞďƚ͘
ƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚǇĞĂƌ͕ƚŚĞŐĞŶĐǇŝƐƐƵĞĚdĂǆĂůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐ͕^ĞƌŝĞƐϮϬϮϭƚŽƌĞĨƵŶĚƚŚĞϮϬϭϰdĂǆ ůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƚŚĞϮϬϭϰdĂǆůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐďŽŶĚƐǁĞƌĞĚĞĨĞĂƐĞĚ͘ ϮϬϭϲ^ĞƌŝĞƐ
KŶĞĐĞŵďĞƌϮϮ͕ϮϬϭϲ͕ƚŚĞ>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚWƌŽũĞĐƚƌĞĂƐEŽ͘ϭĂŶĚϮ^ƵďŽƌĚŝŶĂƚĞdĂǆůůŽĐĂƚŝŽŶ ZĞĨƵŶĚŝŶŐŽŶĚƐϮϬϭϲdĂǆĂďůĞ^ĞƌŝĞƐŽŶĚƐǁĞƌĞŝƐƐƵĞĚĨŽƌΨϯϱ͕Ϭϱϱ͕ϬϬϬďǇƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇƚŽƚŚĞ>Ă YƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ;ƚŚĞ͞ŐĞŶĐǇ͟ͿƚŽƌĞĨŝŶĂŶĐĞŽŶĂŶĂĚǀĂŶĐĞďĂƐŝƐƚŚĞ>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚ ŐĞŶĐǇ͛Ɛ;ƚŚĞ͞WƌŝŽƌŐĞŶĐǇ͟ͿƉƌĞǀŝŽƵƐůǇŝƐƐƵĞĚΨϲ͕ϬϬϬ͕ϬϬϬ>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚWƌŽũĞĐƚƌĞĂEŽ͘Ϯ͕ ^ƵďŽƌĚŝŶĂƚĞdĂǆĂďůĞdĂǆůůŽĐĂƚŝŽŶŽŶĚƐ͕^ĞƌŝĞƐϮϬϭϭ;ƚŚĞ͞ϮϬϭϭWƌŽũĞĐƚƌĞĂEŽ͘ϮdĂǆĂďůĞŽŶĚƐ͟ͿŽĨǁŚŝĐŚ Ψϱ͕ϴϭϬ͕ϬϬϬǁĂƐŽƵƚƐƚĂŶĚŝŶŐĂŶĚƚŚĞWƌŝŽƌŐĞŶĐǇ͛ƐůŽĂŶŽďůŝŐĂƚŝŽŶƵŶĚĞƌƚŚĞ>ŽĂŶŐƌĞĞŵĞŶƚ͕ĚĂƚĞĚ&ĞďƌƵĂƌǇ ϯ͕ϮϬϬϰĂƐƐƵƉƉůĞŵĞŶƚĞĚďǇƚŚĞ^ĞĐŽŶĚ^ƵƉƉůĞŵĞŶƚĂů>ŽĂŶŐƌĞĞŵĞŶƚ͕ĚĂƚĞĚĂƐŽĨDĂƌĐŚϭ͕ϮϬϭϭ;ƚŚĞ͞ϮϬϭϭ >ŽĂŶKďůŝŐĂƚŝŽŶ͟ͿŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞ>ĂYƵŝŶƚĂ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ͛ƐƉƌĞǀŝŽƵƐůǇŝƐƐƵĞĚΨϮϴ͕ϴϱϬ͕ϬϬϬ>ŽĐĂů ŐĞŶĐǇ^ƵďŽƌĚŝŶĂƚĞdĂǆĂďůĞZĞǀĞŶƵĞŽŶĚƐ͕ϮϬϭϭ^ĞƌŝĞƐ;ƚŚĞ͞ϮϬϭϭdĂǆĂďůĞ,ŽƵƐŝŶŐŽŶĚƐ͟ͿŽĨǁŚŝĐŚ ΨϮϲ͕ϲϯϱ͕ϬϬϬǁĂƐŽƵƚƐƚĂŶĚŝŶŐ͘
dŚĞŽŶĚƐǁĞƌĞŝƐƐƵĞĚŽŶĂƐƵďŽƌĚŝŶĂƚĞďĂƐŝƐƚŽƚŚĞΨϲϱ͕ϲϬϬ͕ϬϬϬ^ƵĐĐĞƐƐŽƌŐĞŶĐǇƚŽƚŚĞ>ĂYƵŝŶƚĂ ZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ͕>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚWƌŽũĞĐƚƌĞĂƐEŽ͘ϭĂŶĚϮ͕dĂǆůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐ͕ ϮϬϭϰ^ĞƌŝĞƐ͘dŚĞŽŶĚƐĂƌĞƉĂǇĂďůĞĨƌŽŵĂŶĚƐĞĐƵƌĞĚďǇƚŚĞWůĞĚŐĞĚdĂǆZĞǀĞŶƵĞƐ͕ĂƐĚĞĨŝŶĞĚŚĞƌĞŝŶ͕ƚŽďĞ ĚĞƌŝǀĞĚĨƌŽŵƚŚĞ>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚWƌŽũĞĐƚƌĞĂEŽ͘ϭĂŶĚ>ĂYƵŝŶƚĂZĞĚĞǀĞůŽƉŵĞŶƚWƌŽũĞĐƚƌĞĂEŽ͘Ϯ͘ dŚĞƉƌŝŶĐŝƉĂůŽĨĂŶĚŝŶƚĞƌĞƐƚŽŶƚŚĞŽŶĚƐĂƌĞƉĂǇĂďůĞƐŽůĞůǇĨƌŽŵƚŚĞƉůĞĚŐĞĚƚĂǆƌĞǀĞŶƵĞƐĂůůŽĐĂƚĞĚƚŽƚŚĞ ^ƵĐĐĞƐƐŽƌŐĞŶĐǇĨƌŽŵƚŚĞƉƌŽũĞĐƚĂƌĞĂƐ͘dŚĞƉƌŝŶĐŝƉĂůďĂůĂŶĐĞŽĨŽƵƚƐƚĂŶĚŝŶŐďŽŶĚƐĂƚ:ƵŶĞϯϬ͕ϮϬϮϭ͕ŝƐ ΨϮϵ͕ϯϴϬ͕ϬϬϬǁŝƚŚĂŶƵŶĂŵŽƌƚŝǌĞĚĚŝƐĐŽƵŶƚŽĨΨϭϵϲ͕ϴϭϭ͘
423 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϳϭ
dŚĞŽŶĚƐŵĂƚƵƌĞŝŶϮϬϰϬ͕ďƵƚŵĂǇďĞĐĂůůĞĚďĞĨŽƌĞŵĂƚƵƌŝƚǇĂŶĚƌĞĚĞĞŵĞĚĂƚƚŚĞŽƉƚŝŽŶŽĨƚŚĞŐĞŶĐǇ͕ŝŶ ǁŚŽůĞŽƌŝŶƉĂƌƚ͕ĨƌŽŵƚŚĞƉƌŽĐĞĞĚƐŽĨƌĞĨƵŶĚŝŶŐďŽŶĚƐŽƌŽƚŚĞƌĂǀĂŝůĂďůĞĨƵŶĚƐ͕ŽŶ^ĞƉƚĞŵďĞƌϭ͕ϮϬϮϲŽƌŽŶ ĂŶǇĚĂƚĞƚŚĞƌĞĂĨƚĞƌƉƌŝŽƌƚŽŵĂƚƵƌŝƚǇĂƚĂƌĞĚĞŵƉƚŝŽŶƉƌŝĐĞĞƋƵĂůƚŽƚŚĞƉƌŝŶĐŝƉĂůĂŵŽƵŶƚŽĨŽŶĚƐƚŽďĞ ƌĞĚĞĞŵĞĚ͕ǁŝƚŚŽƵƚƉƌĞŵŝƵŵ͕ƉůƵƐĂĐĐƌƵĞĚŝŶƚĞƌĞƐƚƚŽƚŚĞƌĞĚĞŵƉƚŝŽŶĚĂƚĞ͘ WƌŝŶĐŝƉĂů /ŶƚĞƌĞƐƚ dŽƚĂů
Ψ ϭ͕ϯϵϱ͕ϬϬϬ Ψ ϭ͕ϭϭϴ͕ϴϰϬ Ψ Ϯ͕ϱϭϯ͕ϴϰϬ
ϭ͕ϰϯϬ͕ϬϬϬ ϭ͕Ϭϳϵ͕Ϯϱϱ Ϯ͕ϱϬϵ͕Ϯϱϱ
ϭ͕ϰϲϱ͕ϬϬϬ ϭ͕Ϭϯϱ͕ϰϳϵ Ϯ͕ϱϬϬ͕ϰϳϵ
ϭ͕ϱϭϬ͕ϬϬϬ ϵϴϴ͕ϯϭϱ Ϯ͕ϰϵϴ͕ϯϭϱ
ϭ͕ϱϲϱ͕ϬϬϬ ϵϯϳ͕ϲϴϬ Ϯ͕ϱϬϮ͕ϲϴϬ
ϴ͕ϲϵϱ͕ϬϬϬ ϯ͕ϳϴϬ͕ϭϳϭ ϭϮ͕ϰϳϱ͕ϭϳϭ
ϭϭ͕ϰϱϱ͕ϬϬϬ ϭ͕ϳϴϭ͕ϭϬϵ ϭϯ͕Ϯϯϲ͕ϭϬϵ
ϭ͕ϴϲϱ͕ϬϬϬ ϭϯϰ͕ϱϲϱ ϭ͕ϵϵϵ͕ϱϲϱ
Ψ Ϯϵ͕ϯϴϬ͕ϬϬϬ Ψ ϭϬ͕ϴϱϱ͕ϰϭϰ Ψ ϰϬ͕Ϯϯϱ͕ϰϭϰ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
ϮϬϮϱ
ϮϬϮϲ
ϮϬϮϳͲϮϬϯϭ
ϮϬϯϮͲϮϬϯϲ
ϮϬϯϳͲϮϬϰϬ
ϮϬϮϭ^ĞƌŝĞƐ
KŶƉƌŝůϭϰ͕ϮϬϮϭ͕ƚŚĞŐĞŶĐǇŝƐƐƵĞĚΨϭϱϲ͕ϵϭϱ͕ϬϬϬŝŶ^ĞƌŝĞƐϮϬϮϭdĂǆůůŽĐĂƚŝŽŶZĞĨƵŶĚŝŶŐŽŶĚƐƚŽƌĞĨƵŶĚ ƚŚĞ^ĞƌŝĞƐϮϬϭϯĂŶĚĂŶĚ^ĞƌŝĞƐϮϬϭϰdĂǆůůŽĐĂƚŝŽŶŽŶĚƐ͘ dŚĞďŽŶĚƐĂƌĞƉĂǇĂďůĞŝŶĂŶŶƵĂůŝŶƐƚĂůůŵĞŶƚƐƌĂŶŐŝŶŐĨƌŽŵΨϰ͕ϳϴϱ͕ϬϬϬƚŽΨϭϯ͕ϲϭϬ͕ϬϬϬƵŶƚŝůŵĂƚƵƌŝƚǇŽŶ ^ĞƉƚĞŵďĞƌϭ͕ϮϬϯϰ͘/ŶƚĞƌĞƐƚŝƐƉĂǇĂďůĞƐĞŵŝĂŶŶƵĂůůǇŽŶDĂƌĐŚϭĂŶĚ^ĞƉƚĞŵďĞƌϭŽĨĞĂĐŚǇĞĂƌ͕ĂƚĂƌĂƚĞŽĨ Ϯ͘ϳϳϰй͘ŽŶĚƐŽƵƚƐƚĂŶĚŝŶŐĂƚ:ƵŶĞϯϬ͕ϮϬϮϭǁĞƌĞΨϭϱϲ͕ϵϭϱ͕ϬϬϬ͘dŚĞƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚŽŶƚŚĞďŽŶĚƐĂƌĞ ƉĂǇĂďůĞƐŽůĞůǇĨƌŽŵƚŚĞƉůĞĚŐĞĚƚĂǆƌĞǀĞŶƵĞƐĂůůŽĐĂƚĞĚƚŽƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇĨƌŽŵƚŚĞƉƌŽũĞĐƚĂƌĞĂƐ͘ dŚĞƐĞďŽŶĚƐƌĞƐƵůƚĞĚŝŶĂĨƵůůĚĞĨĞĂƐĂŶĐĞŽĨƚŚĞϮϬϭϯĂŶĚĂŶĚϮϬϭϰdĂǆůůŽĐĂƚŝŽŶŽŶĚƐ͕ĂŶĚƚŚĞƌĞůĂƚĞĚ ůŝĂďŝůŝƚǇŚĂƐďĞĞŶƌĞŵŽǀĞĚĨƌŽŵƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚŽĨƚŚĞŝƚǇ͘dŚĞƌĞĨƵŶĚŝŶŐƌĞƐƵůƚĞĚŝŶĂĚĞĨĞƌƌĞĚůŽƐƐŽĨ ΨϭϬ͕ϯϵϭ͕ϳϭϬ͘
&ƵƚƵƌĞĚĞďƚƐĞƌǀŝĐĞƌĞƋƵŝƌĞŵĞŶƚƐŽŶƚŚĞƐĞďŽŶĚƐĂƌĞĂƐĨŽůůŽǁƐ͗ WƌŝŶĐŝƉĂů /ŶƚĞƌĞƐƚ dŽƚĂů
ΨϭϬ͕ϱϵϬ͕ϬϬϬ Ψ Ϯ͕ϭϴϭ͕ϵϬϭ Ψ ϭϮ͕ϳϳϭ͕ϵϬϭ
ϭϭ͕ϳϲϬ͕ϬϬϬ Ϯ͕ϰϰϵ͕ϯϯϲ ϭϰ͕ϮϬϵ͕ϯϯϲ
ϭϭ͕ϳϵϬ͕ϬϬϬ Ϯ͕ϰϬϱ͕ϲϯϴ ϭϰ͕ϭϵϱ͕ϲϯϴ
ϭϭ͕ϴϰϱ͕ϬϬϬ Ϯ͕ϯϯϴ͕ϬϭϬ ϭϰ͕ϭϴϯ͕ϬϭϬ
ϭϭ͕ϵϮϬ͕ϬϬϬ Ϯ͕ϮϮϳ͕ϲϱϬ ϭϰ͕ϭϰϳ͕ϲϱϬ
ϲϮ͕ϰϭϱ͕ϬϬϬ ϴ͕Ϭϴϴ͕ϲϱϳ ϳϬ͕ϱϬϯ͕ϲϱϳ
ϯϲ͕ϱϵϱ͕ϬϬϬ ϭ͕ϰϴϴ͕ϯϴϬ ϯϴ͕Ϭϴϯ͕ϯϴϬ
Ψϭϱϲ͕ϵϭϱ͕ϬϬϬ Ψ Ϯϭ͕ϭϳϵ͕ϱϳϮ Ψϭϳϴ͕Ϭϵϰ͕ϱϳϮ
zĞĂƌ
ŶĚŝŶŐ:ƵŶĞϯϬ͕
ϮϬϮϳͲϮϬϯϭ
ϮϬϯϮͲϮϬϯϱ
ϮϬϮϮ
ϮϬϮϯ
ϮϬϮϰ
ϮϬϮϱ
ϮϬϮϲ
424 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϳϮ
>ŽĂŶƐĨƌŽŵƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ
dŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂůŽĂŶĞĚŵŽŶĞǇƚŽƚŚĞ&ŽƌŵĞƌŐĞŶĐǇƚŽĐŽǀĞƌŽƉĞƌĂƚŝŶŐĂŶĚĐĂƉŝƚĂůƐŚŽƌƚĨĂůůƐ͘/ŶĂůĞƚƚĞƌ ĚĂƚĞĚEŽǀĞŵďĞƌϲ͕ϮϬϭϯ͕ƚŚĞĂůŝĨŽƌŶŝĂĞƉĂƌƚŵĞŶƚŽĨ&ŝŶĂŶĐĞĂƉƉƌŽǀĞĚƚŚĞůŽĂŶƐĂƐĞŶĨŽƌĐĞĂďůĞŽďůŝŐĂƚŝŽŶƐƚŽ ďĞƉĂŝĚƚŚƌŽƵŐŚ^ƵĐĐĞƐƐŽƌŐĞŶĐǇƉƌŽƉĞƌƚǇƚĂǆ͘dŚŝƐůŽĂŶĂƉƉƌŽǀĞĚƐƉůŝƚďĞƚǁĞĞŶƚŚĞŝƚǇ͛Ɛ'ĞŶĞƌĂůĂŶĚƚŚĞ ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ&ƵŶĚƐ͘ƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͕ƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚĚƵĞƚŽƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂǁĂƐ ΨϯϬ͕Ϭϴϴ͕Ϯϳϴ͕ĂŶĚŝƐŝŶĐůƵĚĞĚĂƐƉĂƌƚŽĨƚŚĞĚƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐďĂůĂŶĐĞŝŶƚŚĞŝƚǇ͛Ɛ'ĞŶĞƌĂůĂŶĚƚŚĞ ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ&ƵŶĚƐ͘
KŶEŽǀĞŵďĞƌϮϮ͕ϮϬϭϳ͕ƚŚĞĞƉĂƌƚŵĞŶƚŽĨ&ŝŶĂŶĐĞ;K&ͿĂƉƉƌŽǀĞĚƚŚĞůĂƐƚĂŶĚĨŝŶĂůZĞĐŽŐŶŝǌĞĚKďůŝŐĂƚŝŽŶ WĂǇŵĞŶƚ^ĐŚĞĚƵůĞƐ;ZKW^Ϳ͘dŚĞZKW^ŝƐĂĐŽŵƉƌĞŚĞŶƐŝǀĞƐĐŚĞĚƵůĞǁŚŝĐŚŝŶĐůƵĚĞƐĂůůďŽŶĚĚĞďƚƐĞƌǀŝĐĞ ƉĂǇŵĞŶƚƐ͕ŝƚǇůŽĂŶƌĞƉĂǇŵĞŶƚƐ͕ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ͕ĂŶĚĂŶŶƵĂůƌĞƉŽƌƚŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐĨƌŽŵĨŝƐĐĂůǇĞĂƌƐϮϬϭϴͲϮϬϭϵ ƚŽϮϬϯϵͲϮϬϰϬ͘
WůĞĚŐĞĚdĂǆZĞǀĞŶƵĞƐ
dŚĞŝƚǇƉůĞĚŐĞĚ͕ĂƐƐĞĐƵƌŝƚǇĨŽƌďŽŶĚƐŝƐƐƵĞĚ͕ĞŝƚŚĞƌĚŝƌĞĐƚůǇŽƌƚŚƌŽƵŐŚƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ͕ĂƉŽƌƚŝŽŶŽĨƚĂǆ ŝŶĐƌĞŵĞŶƚƌĞǀĞŶƵĞ;ŝŶĐůƵĚŝŶŐ>ŽǁĂŶĚDŽĚĞƌĂƚĞ/ŶĐŽŵĞ,ŽƵƐŝŶŐƐĞƚͲĂƐŝĚĞĂŶĚƉĂƐƐƚŚƌŽƵŐŚĂůůŽĐĂƚŝŽŶƐͿƚŚĂƚŝƚ ƌĞĐĞŝǀĞƐ͘dŚĞďŽŶĚƐŝƐƐƵĞĚǁĞƌĞƚŽƉƌŽǀŝĚĞĨŝŶĂŶĐŝŶŐĨŽƌǀĂƌŝŽƵƐĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͕ĂĐĐŽŵƉůŝƐŚ>ŽǁĂŶĚDŽĚĞƌĂƚĞ /ŶĐŽŵĞ,ŽƵƐŝŶŐƉƌŽũĞĐƚƐĂŶĚƚŽĚĞĨĞĂƐĞƉƌĞǀŝŽƵƐůǇŝƐƐƵĞĚďŽŶĚƐ͘ƐƐĞŵďůǇŝůůϭyϮϲƉƌŽǀŝĚĞĚƚŚĂƚƵƉŽŶ ĚŝƐƐŽůƵƚŝŽŶŽĨƚŚĞZĞĚĞǀĞůŽƉŵĞŶƚŐĞŶĐǇ͕ƉƌŽƉĞƌƚǇƚĂǆĞƐĂůůŽĐĂƚĞĚƚŽƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐŝĞƐŶŽůŽŶŐĞƌĂƌĞ ĚĞĞŵĞĚƚĂǆŝŶĐƌĞŵĞŶƚďƵƚƌĂƚŚĞƌƉƌŽƉĞƌƚǇƚĂǆƌĞǀĞŶƵĞƐĂŶĚǁŝůůďĞĂůůŽĐĂƚĞĚĨŝƌƐƚƚŽƐƵĐĐĞƐƐŽƌĂŐĞŶĐŝĞƐƚŽŵĂŬĞ ƉĂǇŵĞŶƚƐŽŶƚŚĞŝŶĚĞďƚĞĚŶĞƐƐŝŶĐƵƌƌĞĚďǇƚŚĞĚŝƐƐŽůǀĞĚƌĞĚĞǀĞůŽƉŵĞŶƚĂŐĞŶĐǇ͘dŽƚĂůƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚ ƌĞŵĂŝŶŝŶŐŽŶƚŚĞĚĞďƚŝƐΨϮϭϴ͕ϯϮϵ͕ϵϴϲǁŝƚŚĂŶŶƵĂůĚĞďƚƐĞƌǀŝĐĞƌĞƋƵŝƌĞŵĞŶƚƐĂƐŝŶĚŝĐĂƚĞĚĂďŽǀĞ͘&ŽƌƚŚĞ ĐƵƌƌĞŶƚǇĞĂƌ͕ƚŚĞƚŽƚĂůƉƌŽƉĞƌƚǇƚĂǆƌĞǀĞŶƵĞƌĞĐŽŐŶŝǌĞĚďǇƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇĨŽƌƚŚĞƉĂǇŵĞŶƚŽĨ ŝŶĚĞďƚĞĚŶĞƐƐŝŶĐƵƌƌĞĚǁĂƐΨϮϬ͕ϳϵϴ͕ϵϵϱĂŶĚƚŚĞĚĞďƚƐĞƌǀŝĐĞŽďůŝŐĂƚŝŽŶŽŶƚŚĞďŽŶĚƐǁĂƐΨϭϳ͕ϯϰϬ͕ϰϲϰ͘ /ŶƐƵƌĂŶĐĞ
dŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇŽĨƚŚĞ&ŽƌŵĞƌŐĞŶĐǇŝƐĐŽǀĞƌĞĚƵŶĚĞƌƚŚĞŝŶƐƵƌĂŶĐĞƉŽůŝĐǇŽĨƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂĂƚ :ƵŶĞϯϬ͕ϮϬϮϭ͘
EŽƚĞϭϴͲ
ǆƚƌĂŽƌĚŝŶĂƌǇ/ƚĞŵ
ŶŶƵĂůůŽĂŶƌĞƉĂǇŵĞŶƚƐŽĨƚŚĞůŽĂŶďĞƚǁĞĞŶƚŚĞŝƚǇĂŶĚƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇĂƌĞĨŝƌƐƚĂƉƉůŝĞĚƚŽƉƌŝŶĐŝƉĂů ƚŚĞŶŝŶƚĞƌĞƐƚĂŶĚǁŚĞŶƌĞĐĞŝǀĞĚĂƌĞĂůůŽĐĂƚĞĚϴϬƉĞƌĐĞŶƚ'ĞŶĞƌĂů&ƵŶĚĂŶĚϮϬƉĞƌĐĞŶƚ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ&ƵŶĚ͘ dŚĞŝŶƚĞƌĞƐƚĂĐĐƌƵĞĚŽŶƚŚĞĂĚũƵƐƚĞĚƉƌŝŶĐŝƉĂůĂŵŽƵŶƚŝƐƌĞĨůĞĐƚĞĚĂƐĂŶĞǆƚƌĂŽƌĚŝŶĂƌǇŐĂŝŶďǇƚŚĞŝƚǇĂŶĚĂŶ ĞǆƚƌĂŽƌĚŝŶĂƌǇůŽƐƐŝŶƚŚĞ^ƵĐĐĞƐƐŽƌŐĞŶĐǇ͘dŚĞĞƉĂƌƚŵĞŶƚŽĨ&ŝŶĂŶĐĞĂƉƉƌŽǀĂůŽĨƚŚĞůĂƐƚĂŶĚĨŝŶĂůZKW^ ŝŶĐƌĞĂƐĞĚƚŚĞƋƵĂƌƚĞƌůǇŝŶƚĞƌĞƐƚƌĂƚĞ;ĨƌŽŵϯйƚŽϰй͕ƐŝŶĐĞƚŚĞŝŶĐĞƉƚŝŽŶŽĨƚŚĞůŽĂŶŝŶEŽǀĞŵďĞƌϮϬϬϲͿ͘dŚĞ ŝŶƚĞƌĞƐƚĚƵĞĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭǁĂƐΨϭϯ͕ϳϰϵ͕ϭϴϯ͘
425 CLICK HERE to Return to Agenda
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƐƚŽ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ϳϯ
EŽƚĞϭϵͲ ^ƵďƐĞƋƵĞŶƚ
ǀĞŶƚƐ
,ŝŐŚǁĂǇϭϭϭƌŝĚŐĞ&ƵŶĚŝŶŐ͗
/ŶEŽǀĞŵďĞƌϮϬϮϬ͕ĂůƚƌĂŶƐĂĚǀŝƐĞĚƚŚĞŝƚǇƚŚĂƚƚŚĞ,ŝŐŚǁĂǇƌŝĚŐĞWůĂŶŶŝŶŐ;,WͿ&ƵŶĚŝŶŐWƌŽŐƌĂŵŚĂĚďĞĞŶ ŽǀĞƌƐƵďƐĐƌŝďĞĚĨŽƌ&zϮϬϮϬͬϮϭĂŶĚϮϬϮϭͬϮϮĂŶĚƚŚĞƌĞŝƐŶŽĂĚĚŝƚŝŽŶĂůƉƌŽŐƌĂŵŵŝŶŐĐĂƉĂĐŝƚǇĨŽƌƉƌŽũĞĐƚƐ ĂůƌĞĂĚǇŝŶĐŽŶƐƚƌƵĐƚŝŽŶŽƌƌĞĂĚǇƚŽĂĚǀĞƌƚŝƐĞ͘
ƚƚŚĞĚŝƌĞĐƚŝŽŶŽĨƚŚĞŝƚǇŽƵŶĐŝůŝŶ:ƵŶĞϮϬϮϭ͕ƚŚĞŝƚǇĂŐƌĞĞĚƚŽƉƌŽǀŝĚĞ͚ĂƚƌŝƐŬ͛ĂĚǀĂŶĐĞĨƵŶĚŝŶŐƵƐŝŶŐƚŚĞ ĚǀĂŶĐĞŽŶƐƚƌƵĐƚŝŽŶWƌŽĐĞĚƵƌĞŽƵƚůŝŶĞĚŝŶ^ĞĐƚŝŽŶϯ͘ϳŽĨƚŚĞĂůƚƌĂŶƐ>ŽĐĂůWƌŽĐĞĚƵƌĞƐDĂŶƵĂů͕ĂŶĚĂůƚƌĂŶƐ ĂƉƉƌŽǀĞĚƚŚĞŝƚǇ͛ƐƌĞƋƵĞƐƚ͘
dŚĞĞŶǀŝƌŽŶŵĞŶƚĂů͕ĞŶŐŝŶĞĞƌŝŶŐͬĚĞƐŝŐŶĂŶĚƌŝŐŚƚͲŽĨͲǁĂǇƉŚĂƐĞƐĂƌĞĐŽŵƉůĞƚĞĂŶĚĂƌĞĨƵůůǇĨƵŶĚĞĚ͘dŚĞ ĐŽŶƐƚƌƵĐƚŝŽŶƉŚĂƐĞǁŚŝĐŚŝŶĐůƵĚĞƐĐŽŶƐƚƌƵĐƚŝŽŶ͕ĐŽŶƐƚƌƵĐƚŝŽŶĞŶŐŝŶĞĞƌŝŶŐ͕ĂŶĚĐŽŶƚŝŶŐĞŶĐǇŝƐĞƐƚŝŵĂƚĞĚĂƚ ΨϮϬ͕ϴϲϵ͕Ϭϵϴ͘dŚĞ,W&ƵŶĚŝŶŐǁŝůůƵůƚŝŵĂƚĞůǇĐŽŶƚƌŝďƵƚĞϴϴ͘ϱϯйŽƌƵƉƚŽΨϭϰ͕ϵϯϲ͕ϭϮϮƚŽǁĂƌĚĞůŝŐŝďůĞ ;ŽŶƐƚƌƵĐƚŝŽŶWŚĂƐĞͿĐŽƐƚƐ͘dŚŝƐŝƐƚŚĞĂŵŽƵŶƚƚŚĞŝƚǇŝƐƌĞƋƵŝƌĞĚƚŽĂĚǀĂŶĐĞ͘^ƚĂĨĨĂŶĚƚŚĞ&ŝŶĂŶĐĞĚǀŝƐŽƌǇ ŽŵŵŝƚƚĞĞ;&ͿƌĞĐŽŵŵĞŶĚƵƐŝŶŐĂĐŽŵďŝŶĂƚŝŽŶŽĨhŶĂƐƐŝŐŶĞĚZĞƐĞƌǀĞƐĂŶĚDĞĂƐƵƌĞ'ZĞƐĞƌǀĞƐĨŽƌƚŚŝƐ ĂĚǀĂŶĐĞĨƵŶĚŝŶŐĚƵĞƚŽƚŚĞŝƌĐƵƌƌĞŶƚďĂůĂŶĐĞƐ͘dŚĞŝƚǇĂŶƚŝĐŝƉĂƚĞƐƚŚĞƐĞĨƵŶĚƐƚŽďĞƌĞŝŵďƵƌƐĞĚǁŝƚŚŝŶƚǁŽƚŽ ĨŝǀĞĨŝƐĐĂůǇĞĂƌƐ͘ŽƵŶĐŝůĂƉƉƌŽǀĞĚƚŚĞƵƐĞŽĨDĞĂƐƵƌĞ'ƌĞƐĞƌǀĞƐŝŶƚŚĞĂŵŽƵŶƚŽĨΨϳ͕ϰϲϴ͕ϬϲϭĂŶĚhŶĂƐƐŝŐŶĞĚ ƌĞƐĞƌǀĞƐŝŶƚŚĞĂŵŽƵŶƚŽĨΨϳ͕ϰϲϴ͕Ϭϲϭ͕ĨŽƌĂƚŽƚĂůŽĨΨϭϰ͕ϵϯϲ͕ϭϮϮ͘ ŵĞƌŝĐĂŶZĞƐĐƵĞWůĂŶĐƚ&ƵŶĚƐ
ƐƉĂƌƚŽĨŝƚƐďƵĚŐĞƚƉƌŽĐĞƐƐ͕ƚŚĞh͘^͘ĞƉĂƌƚŵĞŶƚŽĨdƌĞĂƐƵƌǇĂůůŽĐĂƚĞĚΨϵ͕ϵϴϳ͕ϬϬϵŽĨŵĞƌŝĐĂŶZĞƐĐƵĞWůĂŶĐƚ ;ZWͿ&ƵŶĚƐƚŽƚŚĞŝƚǇ͘ůůŽĐĂƚŝŽŶƐƚŽƚŚĞŝƚǇƐƚĂƌƚĞĚŝŶ:ƵůǇϮϬϮϭĨŽƌΨϰ͕ϵϵϯ͕ϱϬϰ͘&ƵƌƚŚĞƌ͕ƚŚĞĞƉĂƌƚŵĞŶƚŽĨ dƌĞĂƐƵƌǇǁŝůůĂůůŽĐĂƚĞƚŚĞƐĞĐŽŶĚƚƌĂŶĐŚĞŽĨΨϰ͕ϵϵϯ͕ϱϬϱŝŶZWĨƵŶĚŝŶŐƚŽƚŚĞŝƚǇŝŶƵŐƵƐƚϮϬϮϮ͘ 426 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƚŽZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ ϳϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ'ĞŶĞƌĂů&ƵŶĚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϭϮϯ͕ϯϯϯ͕ϲϲϳ Ψ ϭϮϯ͕ϯϯϯ͕ϲϲϳ Ψ ϭϮϯ͕ϯϯϯ͕ϲϲϳ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
dĂǆĞƐ ϯϴ͕ϱϵϲ͕ϬϬϬ ϰϰ͕ϴϳϴ͕ϬϬϬ ϱϭ͕ϱϭϱ͕ϴϱϰ ϲ͕ϲϯϳ͕ϴϱϰ >ŝĐĞŶƐĞƐĂŶĚƉĞƌŵŝƚƐ ϭ͕ϭϯϲ͕ϴϬϬ ϭ͕ϭϴϲ͕ϴϬϬ Ϯ͕ϬϮϬ͕ϱϵϲ ϴϯϯ͕ϳϵϲ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϴ͕ϰϳϵ͕ϳϬϬ ϵ͕ϯϰϯ͕ϲϯϰ ϴ͕ϱϱϭ͕ϵϲϰ ;ϳϵϭ͕ϲϳϬͿ ŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐ ϳϴϱ͕ϱϬϬ ϱϳϱ͕ϬϬϬ ϵϲϰ͕ϳϭϬ ϯϴϵ͕ϳϭϬ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϴϰϱ͕ϬϬϬ ϴϰϱ͕ϬϬϬ ϭ͕ϱϲϵ͕ϭϰϵ ϳϮϰ͕ϭϰϵ &ŝŶĞƐĂŶĚĨŽƌĨĞŝƚƵƌĞƐ ϮϵϬ͕ϬϬϬ Ϯϲϰ͕ϬϬϬ ϳϳϵ͕ϲϬϲ ϱϭϱ͕ϲϬϲ DŝƐĐĞůůĂŶĞŽƵƐ ϱϵϯ͕ϭϬϬ ϱϵϯ͕ϭϬϬ ϲϰϮ͕ϵϰϵ ϰϵ͕ϴϰϵ

ǆƚƌĂŽƌĚŝŶĂƌǇ/ƚĞŵ Ͳ Ͳ ϱϵϭ͕ϵϰϲ ϱϵϭ͕ϵϰϲ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϳϰ͕Ϭϱϵ͕ϳϲϳ ϭϴϭ͕Ϭϭϵ͕ϮϬϭ ϭϴϵ͕ϵϳϬ͕ϰϰϭ ϴ͕ϵϱϭ͕ϮϰϬ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ
>ĞŐŝƐůĂƚŝǀĞ ϮϵϮ͕ϵϬϬ ϮϵϮ͕ϵϬϬ Ϯϯϯ͕ϱϯϲ ϱϵ͕ϯϲϰ ŝƚǇŵĂŶĂŐĞƌ ϳϬϳ͕ϬϬϬ ϳϲϳ͕ϬϬϬ ϲϲϵ͕ϱϭϲ ϵϳ͕ϰϴϰ ŝƚǇĂƚƚŽƌŶĞǇ ϱϲϱ͕ϬϬϬ ϱϲϱ͕ϬϬϬ ϰϱϳ͕ϯϱϰ ϭϬϳ͕ϲϰϲ DĂƌŬĞƚŝŶŐ ϭ͕ϭϮϵ͕ϴϬϬ ϭ͕ϭϭϬ͕ϯϬϬ ϭ͕ϭϬϱ͕ϰϴϮ ϰ͕ϴϭϴ ,ƵŵĂŶƌĞƐŽƵƌĐĞƐ Ϯϲϰ͕ϰϬϬ ϯϬϰ͕ϰϬϬ Ϯϭϱ͕ϮϱϬ ϴϵ͕ϭϱϬ ŝƚǇĐůĞƌŬ ϱϵϯ͕ϰϬϬ ϲϯϵ͕ϭϬϬ ϰϵϰ͕ϭϳϱ ϭϰϰ͕ϵϮϱ &ŝƐĐĂůƐĞƌǀŝĐĞƐ ϭ͕ϯϵϯ͕ϰϬϬ ϭ͕ϰϮϯ͕ϰϬϬ ϭ͕ϯϬϰ͕ϯϱϰ ϭϭϵ͕Ϭϰϲ ĞŶƚƌĂůƐĞƌǀŝĐĞƐ Ϯ͕ϮϱϬ͕ϳϬϬ Ϯ͕ϰϵϳ͕ϮϬϬ ϯ͕ϭϱϮ͕ϱϭϯ ;ϲϱϱ͕ϯϭϯͿ dŚĞ,ƵďĐƵƐƚŽŵĞƌƐĞƌǀŝĐĞƐ ϭ͕Ϭϴϵ͕ϱϬϬ ϵϬϴ͕ϯϬϬ ϴϯϬ͕ϵϱϬ ϳϳ͕ϯϱϬ WƵďůŝĐƐĂĨĞƚǇ
WŽůŝĐĞ ϭϳ͕ϱϬϲ͕ϳϬϬ ϭϳ͕ϮϬϰ͕ϳϬϬ ϭϲ͕ϰϳϵ͕ϵϬϳ ϳϮϰ͕ϳϵϯ ŽĚĞĐŽŵƉůŝĂŶĐĞ ϭ͕ϯϱϮ͕ϮϬϬ ϭ͕ϭϵϲ͕ϴϬϬ ϭ͕ϭϯϴ͕ϯϭϳ ϱϴ͕ϰϴϯ &ŝƌĞ ϴ͕ϬϮϭ͕ϳϬϬ ϵ͕ϭϲϱ͕ϰϮϮ ϲ͕ϲϲϳ͕Ϯϵϯ Ϯ͕ϰϵϴ͕ϭϮϵ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ
ƵƌƌĞŶƚƉůĂŶŶŝŶŐ ϱϭϵ͕ϭϬϬ ϱϭϯ͕ϵϬϬ ϱϮϬ͕Ϭϴϰ ;ϲ͕ϭϴϰͿ WƵďůŝĐďƵŝůĚŝŶŐƐ ϭ͕ϯϮϭ͕ϳϬϬ ϭ͕ϭϰϬ͕ϳϬϬ ϭ͕ϭϭϵ͕ϴϭϰ ϮϬ͕ϴϴϲ ƵŝůĚŝŶŐΘƐĂĨĞƚǇ ϵϯϵ͕ϬϬϬ ϳϳϳ͕ϭϬϬ ϳϭϳ͕ϵϵϴ ϱϵ͕ϭϬϮ ĚŵŝŶŝƐƚƌĂƚŝŽŶ ϲϲϱ͕ϲϬϬ ϱϭϵ͕ϯϬϬ ϲϯϵ͕ϱϲϯ ;ϭϮϬ͕ϮϲϯͿ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐĂĚŵŝŶ ϳϬϬ͕ϲϬϬ ϳϬϬ͕ϲϬϬ ϲϵϵ͕ϳϴϰ ϴϭϲ tĞůůŶĞƐƐĐĞŶƚĞƌ ϳϯϱ͕ϴϬϬ ϱϰϯ͕ϴϬϬ ϰϵϱ͕ϱϲϳ ϰϴ͕Ϯϯϯ ZĞĐƌĞĂƚŝŽŶƉƌŽŐƌĂŵƐͬƐƉĞĐŝĂůĞǀĞŶƚƐ ϱϬϭ͕ϲϬϬ ϰϯϴ͕ϳϬϬ ϮϬϴ͕ϱϬϬ ϮϯϬ͕ϮϬϬ WĂƌŬŵĂŝŶƚĞŶĂŶĐĞ ϭ͕ϴϵϵ͕ϱϬϬ ϭ͕ϲϳϬ͕ϴϬϬ ϭ͕ϳϴϮ͕ϭϵϭ ;ϭϭϭ͕ϯϵϭͿ WƵďůŝĐǁŽƌŬƐ
ĚŵŝŶŝƐƚƌĂƚŝŽŶ ϳϮϮ͕ϴϬϬ ϳϭϵ͕ϮϬϬ ϱϬϵ͕ϰϲϲ ϮϬϵ͕ϳϯϰ ĞǀĞůŽƉŵĞŶƚƐĞƌǀŝĐĞƐ ϯϴϵ͕ϲϬϬ ϯϵϬ͕ϮϬϬ ϯϱϰ͕ϴϵϱ ϯϱ͕ϯϬϱ DĂŝŶƚĞŶĂŶĐĞͬŽƉĞƌĂƚŝŽŶƐͲƐƚƌĞĞƚ ϰϴϵ͕ϭϬϬ ϰϴϰ͕ϯϬϬ ϰϮϱ͕ϳϰϯ ϱϴ͕ϱϱϳ

ŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ ϴϯϬ͕ϳϬϬ ϵϵϵ͕ϬϬϬ ϲϰϬ͕ϳϯϰ ϯϱϴ͕Ϯϲϲ ĂƉŝƚĂůŽƵƚůĂǇ ϭϱϲ͕ϬϬϬ ϭϱϲ͕ϬϬϬ ϰϰϬ͕ϰϴϵ ;Ϯϴϰ͕ϰϴϵͿ dƌĂŶƐĨĞƌƐŽƵƚ ϰ͕ϬϴϬ͕ϬϬϬ ϯ͕ϵϱϭ͕ϵϬϬ ϲ͕ϯϱϬ͕ϰϮϯ ;Ϯ͕ϯϵϴ͕ϱϮϯͿ dŽƚĂůĐŚĂƌŐĞƐƚŽĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϰϵ͕ϭϭϳ͕ϴϬϬ ϰϵ͕ϬϴϬ͕ϬϮϮ ϰϳ͕ϲϱϯ͕ϴϵϴ ϭ͕ϰϮϲ͕ϭϮϰ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ΨϭϮϰ͕ϵϰϭ͕ϵϲϳ Ψϭϯϭ͕ϵϯϵ͕ϭϳϵ ΨϭϰϮ͕ϯϭϲ͕ϱϰϯ ΨϭϬ͕ϯϳϳ͕ϯϲϰ ƵĚŐĞƚŵŽƵŶƚƐ
427 CLICK HERE to Return to Agenda
^ĞĞEŽƚĞƚŽZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ ϳϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ,ŽƵƐŝŶŐƵƚŚŽƌŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϮϮ͕ϴϭϴ͕ϱϵϱ Ψ ϮϮ͕ Ψ ϮϮ͕ ϴϭϴ͕ϱϵϱ Ψ Ͳ ϴϭϴ͕ϱϵϱ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ Ϯϯϱ͕ϯϬϬ ϭ͕ ϮϬϱ͕ϯϬϬ Ϭϰϴ͕ϲϵϱ ϴϰϯ͕ϯϵϱ

ǆƚƌĂŽƌĚŝŶĂƌǇŝƚĞŵ Ͳ ϭ͕ Ϭϲϭ͕ϰϱϲ ; ϭϰϳ͕ϵϴϳ ϵϭϯ͕ϰϲϵͿ DŝƐĐĞůůĂŶĞŽƵƐ ϯϭϯ͕ϬϬϬ ϭ͕ϴϮϬ ϲϳϬ͕ϬϬϬ ; ϲϲϴ͕ϭϴϬͿ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌĂƉƉƌŽƉƌŝĂƚŝŽŶƐ Ϯϯ͕ϯϲϲ͕ϴϵϱ Ϯϰ͕ Ϯϰ͕ ϳϱϱ͕ϯϱϭ ; Ϭϭϳ͕Ϭϵϳ ϳϯϴ͕ϮϱϰͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϴϮϮ͕ϯϬϬ ϭ͕ ϮϳϬ͕ϬϲϮ ϴϱϭ͕ϴϮϬ ϰϭϴ͕ϮϰϮ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϮϱϬ͕ϬϬϬ ϯϬϬ͕ϬϬϬ Ͳ ϯϬϬ͕ϬϬϬ dƌĂŶƐĨĞƌŽƵƚ Ͳ Ͳ ; Ϯϳϴ͕ϬϲϮ Ϯϳϴ͕ϬϲϮͿ dŽƚĂůĐŚĂƌŐĞƐƚŽĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϬϳϮ͕ϯϬϬ ϭ͕ ϭ͕ ϱϳϬ͕ϬϲϮ ϰϮϵ͕ϴϴϮ ϭϰϬ͕ϭϴϬ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϮϮ͕Ϯϵϰ͕ϱϵϱ Ψ Ϯϯ͕ Ψ ϮϮ͕ ϭϴϱ͕Ϯϴϵ Ψ ; ϱϴϳ͕Ϯϭϱ Ψϱϵϴ͕ϬϳϰͿ ƵĚŐĞƚŵŽƵŶƚƐ
428 CLICK HERE to Return to Agenda
ϳϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ĐŚĞĚƵůĞŽĨWƌŽƉŽƌƚŝŽŶĂƚĞ^ŚĂƌĞŽĨƚŚĞEĞƚWĞŶƐŝŽŶ>ŝĂďŝůŝƚǇʹDŝƐĐĞůůĂŶĞŽƵƐWůĂŶ >ĂƐƚϭϬzĞĂƌƐΎ
ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
WƌŽƉŽƌƚŝŽŶŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ Ϭ͘ϭϬϯϰй Ϭ͘ϭϮϲϬй Ϭ͘ϭϮϱϳй Ϭ͘ϭϮϳϮй Ϭ͘ϭϮϴϳй Ϭ͘ϭϯϭϯϰй Ϭ͘ϭϯϯϮϵй WƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ ϲ͕ Ψ ϰϯϯ͕ϯϵϭ Ψϴ͕ϲϱϭ͕ϮϵϬ ΨϭϬ͕ϴϳϰ͕Ϭϵϴ ΨϭϮ͕ϲϭϮ͕ϱϮϯ ΨϭϮ͕ϰϬϯ͕ϲϵϭ Ψϭϯ͕ϰϱϴ͕ϮϬϬ Ψϭϰ͕ϱϬϮ͕ϯϭϭ ŽǀĞƌĞĚƉĂǇƌŽůů Ψϱ͕ϰϮϭ͕ϵϰϱ Ψϱ͕ϰϴϬ͕ϳϱϴ Ψϱ͕ϱϲϵ͕ϬϬϮ Ψϱ͕ϳϯϵ͕ϰϭϲ Ψϲ͕Ϭϲϰ͕ϴϳϱ Ψϲ͕ϲϲϵ͕ϮϬϰ Ψϳ͕Ϭϲϲ͕ϴϯϬ WƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇĂƐĂ
ƉĞƌĐĞŶƚĂŐĞŽĨĐŽǀĞƌĞĚƉĂǇƌŽůů ϭϭϴ͘ϲϱй ϭϱϳ͘ϴϱй ϭϵϱ͘Ϯϲй Ϯϭϵ͘ϳϱй ϮϬϰ͘ϱϮй ϮϬϭ͘ϴϬй ϮϬϱ͘ϮϮй WůĂŶĨŝĚƵĐŝĂƌǇŶĞƚƉŽƐŝƚŝŽŶĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞ
ƚŽƚĂůƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ ϳϵ͘ϴϮй ϳϴ͘ϰϬй ϳϰ͘Ϭϲй ϳϯ͘ϯϭй ϳϱ͘ϯϬй ϳϱ͘ϯϬй ϳϳ͘ϳϭй ΎͲ&ŝƐĐĂůǇĞĂƌϮϬϭϱǁĂƐƚŚĞĨŝƌƐƚǇĞĂƌŽĨŝŵƉůĞŵĞŶƚĂƚŝŽŶ͕ƚŚĞƌĞĨŽƌĞ͕ŽŶůǇƐĞǀĞŶǇĞĂƌƐĂƌĞƐŚŽǁŶ͘ ŚĂŶŐĞƐŝŶƐƐƵŵƉƚŝŽŶƐ
dŚĞĚŝƐĐŽƵŶƚƌĂƚĞĐŚĂŶŐĞĚĨƌŽŵϳ͘ϲϱƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϲŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞƚŽϳ͘ϭϱƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϳ ŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ͘
ŽǀĞƌĞĚWĂǇƌŽůů
/ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ'^^ƚĂƚĞŵĞŶƚEŽ͘ϴϮ͕WĞŶƐŝŽŶ/ƐƐƵĞƐͲŶŵĞŶĚŵĞŶƚŽĨ'^^ƚĂƚĞŵĞŶƚEŽ͘ϲϳ͕EŽ͘ϲϴ͕ĂŶĚEŽ͘ϳϯ͕ ǁĞŚĂǀĞƌĞƐƚĂƚĞĚƚŽƐŚŽǁ ĐŽǀĞƌĞĚƉĂǇƌŽůůďĂƐĞĚŽŶƉĞŶƐŝŽŶĂďůĞĞĂƌŶŝŶŐƐ͘
429 CLICK HERE to Return to Agenda
ϳϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ĐŚĞĚƵůĞŽĨWĞŶƐŝŽŶWůĂŶŽŶƚƌŝďƵƚŝŽŶƐʹDŝƐĐĞůůĂŶĞŽƵƐWůĂŶ >ĂƐƚϭϬzĞĂƌƐΎ
ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
ĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƐͲ
ŵŝƐĐĞůůĂŶĞŽƵƐ ΨϳϮϴ͕Ϭϳϯ Ψϳϵϳ͕ϲϬϯ Ψϵϰϵ͕Ϯϯϭ Ψϭ͕Ϭϲϭ͕ϰϯϵ Ψϭ͕Ϯϴϰ͕Ϯϳϱ Ψϭ͕ϰϳϵ͕ϭϯϳ ΨϮ͕ϱϴϭ͕ϭϱϴ ŽŶƚƌŝďƵƚŝŽŶƐŝŶƌĞůĂƚŝŽŶƚŽƚŚĞĂĐƚƵĂƌŝĂůůǇ
ĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶ ;ϳϮϴ͕ϬϳϯͿ ;ϳϵϳ͕ϲϬϯͿ ;ϵϰϵ͕ϮϯϭͿ ;ϭ͕Ϭϲϭ͕ϰϯϵͿ ;ϭ͕Ϯϴϰ͕ϮϳϱͿ ;ϭ͕ϰϳϵ͕ϭϯϳͿ ;Ϯ͕ϱϴϭ͕ϭϱϴͿ ŽŶƚƌŝďƵƚŝŽŶĚĞĨŝĐŝĞŶĐǇ;ĞǆĐĞƐƐͿ ΨͲ ΨͲ ΨͲ ΨͲ ΨͲ ΨͲ ΨͲ ŽǀĞƌĞĚƉĂǇƌŽůů Ψϱ͕ϰϴϬ͕ϳϱϴ Ψϱ͕ϱϲϵ͕ϬϬϮ Ψϱ͕ϳϯϵ͕ϰϭϲ Ψϲ͕Ϭϲϰ͕ϴϳϱ Ψϲ͕ϲϲϵ͕ϮϬϰ Ψϳ͕Ϭϲϲ͕ϴϯϬ Ψϲ͕Ϯϯϴ͕ϰϮϱ ŽŶƚƌŝďƵƚŝŽŶƐĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨĐŽǀĞƌĞĚƉĂǇƌŽůů ϭϯ͘Ϯϴй ϭϰ͘ϯϮй ϭϲ͘ϱϰй ϭϳ͘ϱϬй ϭϵ͘Ϯϲй ϮϬ͘ϵϯй ϰϭ͘ϯϴй ΎͲ&ŝƐĐĂůǇĞĂƌϮϬϭϱǁĂƐƚŚĞĨŝƌƐƚǇĞĂƌŽĨŝŵƉůĞŵĞŶƚĂƚŝŽŶ͕ƚŚĞƌĞĨŽƌĞ͕ŽŶůǇƐĞǀĞŶǇĞĂƌƐĂƌĞƐŚŽǁŶ͘ ŽǀĞƌĞĚWĂǇƌŽůů
/ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ'^^ƚĂƚĞŵĞŶƚEŽ͘ϴϮ͕WĞŶƐŝŽŶ/ƐƐƵĞƐͲŶŵĞŶĚŵĞŶƚŽĨ'^^ƚĂƚĞŵĞŶƚEŽ͘ϲϳ͕EŽ͘ϲϴ͕ĂŶĚEŽ͘ϳϯ͕ ǁĞŚĂǀĞƌĞƐƚĂƚĞĚƚŽƐŚŽǁ ĐŽǀĞƌĞĚƉĂǇƌŽůůďĂƐĞĚŽŶƉĞŶƐŝŽŶĂďůĞĞĂƌŶŝŶŐƐ͘
430 CLICK HERE to Return to Agenda
ϳϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ĐŚĞĚƵůĞŽĨŚĂŶŐĞƐŝŶƚŚĞEĞƚKW
>ŝĂďŝůŝƚǇͬ;ƐƐĞƚͿĂŶĚZĞůĂƚĞĚZĂƚŝŽƐ
>ĂƐƚϭϬzĞĂƌƐΎ
ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
dŽƚĂůKW
>ŝĂďŝůŝƚǇ
^ĞƌǀŝĐĞĐŽƐƚ Ψϵϯ͕ϰϯϴ Ψϴϱ͕ϭϳϰ Ψϴϴ͕Ϯϭϵ /ŶƚĞƌĞƐƚ ϭϬϬ͕ϭϳϳ ϵϯ͕Ϭϳϭ ϵϳ͕ϭϴϯ ŝĨĨĞƌĞŶĐĞƐďĞƚǁĞĞŶĞǆƉĞĐƚĞĚĂŶĚĂĐƚƵĂůĞǆƉĞƌŝĞŶĐĞ ϳϭ͕ϱϯϯ Ͳ ϭϬϯ͕ϰϵϱ ŚĂŶŐĞƐŽĨĂƐƐƵŵƉƚŝŽŶƐ ;ϰϰ͕ϮϮϵͿ ;ϭϰ͕ϮϭϵͿ ϰϰ͕ϰϲϰ ĞŶĞĨŝƚƉĂǇŵĞŶƚƐ ;ϴϲ͕ϱϳϬͿ ;ϵϴ͕ϱϴϰͿ ;ϵϴ͕ϰϵϬͿ EĞƚŚĂŶŐĞŝŶdŽƚĂůKW
>ŝĂďŝůŝƚǇ ϭϯϰ͕ϯϰϵ ϲϱ͕ϰϰϮ Ϯϯϰ͕ϴϳϭ dŽƚĂůKW
ůŝĂďŝůŝƚǇͲďĞŐŝŶŶŝŶŐ ϭ͕ϯϴϬ͕ϵϰϵ ϭ͕ϱϭϱ͕Ϯϵϴ ϭ͕ϱϴϬ͕ϳϰϬ dŽƚĂůKW
ůŝĂďŝůŝƚǇͲĞŶĚŝŶŐ Ψϭ͕ϱϭϱ͕Ϯϵϴ Ψϭ͕ϱϴϬ͕ϳϰϬ Ψϭ͕ϴϭϱ͕ϲϭϭ WůĂŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ;&EWͿ

ŵƉůŽǇĞƌĐŽŶƚƌŝďƵƚŝŽŶƐ ϭ͕ϲϬϵ͕ϵϳϬ Ψ ϵϴ͕ϱϴϰ Ψ ϵϴ͕ϰϵϬ Ψ EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ ;ϭ͕ϲϴϬͿ ϭϬϲ͕ϴϬϱ ϴϴ͕ϬϱϮ ĞŶĞĨŝƚƉĂǇŵĞŶƚƐ ;ϴϲ͕ϱϳϬͿ ;ϵϴ͕ϱϴϰͿ ;ϵϴ͕ϰϵϬͿ ĚŵŝŶŝƐƚƌĂƚŝǀĞĞǆƉĞŶƐĞ ;ϰϬϲͿ ;ϯϮϳͿ ;ϴϬϯͿ EĞƚŚĂŶŐĞŝŶWůĂŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ ϭ͕ϱϮϭ͕ϯϭϰ ϭϬϲ͕ϰϳϴ ϴϳ͕Ϯϰϵ WůĂŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶͲĞŐŝŶŶŝŶŐŽĨzĞĂƌ Ͳ ϭ͕ϱϮϭ͕ϯϭϰ ϭ͕ϲϮϳ͕ϳϵϮ WůĂŶ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶͲ
ŶĚŽĨzĞĂƌ ϭ͕ϱϮϭ͕ϯϭϰ Ψ Ψϭ͕ϲϮϳ͕ϳϵϮ Ψϭ͕ϳϭϱ͕Ϭϰϭ EĞƚKW
ůŝĂďŝůŝƚǇͬ;ĂƐƐĞƚͿͲ
ŶĚŽĨzĞĂƌ ;ϲ͕ϬϭϲͿ Ψ ;ϰϳ͕ϬϱϮͿ Ψ ϭϬϬ͕ϱϳϬ Ψ &ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƚŚĞdŽƚĂůKW
>ŝĂďŝůŝƚǇ ϭϬϬ͘ϰй ϭϬϯ͘Ϭй ϵϰ͘ϱй
ŽǀĞƌĞĚͲĞŵƉůŽǇĞĞƉĂǇƌŽůů ϲ͕Ϭϲϰ͕ϴϳϱ ϲ͕ϲϲϵ͕ϮϬϰ ϳ͕Ϭϲϲ͕ϴϯϬ EĞƚKW
ůŝĂďŝůŝƚǇͬ;ĂƐƐĞƚͿĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨĐŽǀĞƌĞĚͲĞŵƉůŽǇĞĞƉĂǇƌŽůů ͲϬ͘ϭй ͲϬ͘ϳй ϭ͘ϰй EŽƚĞƐƚŽ^ĐŚĞĚƵůĞ͗
Ύ&ŝƐĐĂůǇĞĂƌϮϬϭϴǁĂƐƚŚĞĨŝƌƐƚǇĞĂƌŽĨŝŵƉůĞŵĞŶƚĂƚŝŽŶ͘ ŚĂŶŐĞƐŝŶƐƐƵŵƉƚŝŽŶƐ
dŚĞĚŝƐĐŽƵŶƚƌĂƚĞĂŶĚůŽŶŐͲƚĞƌŵĞǆƉĞĐƚĞĚƌĂƚĞŽĨƌĞƚƵƌŶĐŚĂŶŐĞĚĨƌŽŵϲ͘ϬϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϵŵĞĂƐƵƌĞŵĞŶƚ ĚĂƚĞƚŽϱ͘ϱϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ͘ dŚĞŝŶĨůĂƚŝŽŶĂƐƐƵŵƉƚŝŽŶǁĂƐĐŚĂŶŐĞĚĨƌŽŵϮ͘ϱϬƉĞƌĐĞŶƚƵƐĞĚĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϭϵŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞƚŽϮ͘ϮϱƉĞƌĐĞŶƚƵƐĞĚ ĨŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ͘
&ŽƌƚŚĞ:ƵŶĞϯϬ͕ϮϬϮϬŵĞĂƐƵƌĞŵĞŶƚĚĂƚĞ͕ŚĞĂůƚŚĐĂƌĞƚƌĞŶĚƌĂƚĞƐǁĞƌĞƌĞƐĞƚƚŽƌĞĨůĞĐƚƵƉĚĂƚĞĚĐŽƐƚŝŶĐƌĞĂƐĞĞǆƉĞĐƚĂƚŝŽŶƐ͘ 431 CLICK HERE to Return to Agenda
ϳϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
^ĐŚĞĚƵůĞŽĨKW
ŽŶƚƌŝďƵƚŝŽŶƐ
>ĂƐƚϭϬzĞĂƌƐΎ
ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
ĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶ;Ϳ Ψ ϴϴ͕ϮϴϬ Ψ ϵϬ͕ϮϮϵ Ψ ϴϲ͕ϵϯϵ ŽŶƚƌŝďƵƚŝŽŶƐŝŶƌĞůĂƚŝŽŶƚŽƚŚĞ;Ϳ ϵϴ͕ϱϴϰ ϵϴ͕ϰϵϬ ϴϵ͕ϵϰϳ ŽŶƚƌŝďƵƚŝŽŶĚĞĨŝĐŝĞŶĐǇ;ĞǆĐĞƐƐͿ ;ϭϬ͕ϯϬϰͿ ;ϴ͕ϮϲϭͿ ;ϯ͕ϬϬϴͿ ŽǀĞƌĞĚƉĂǇƌŽůů Ψ ϲ͕ϲϲϵ͕ϮϬϰ Ψ ϳ͕Ϭϲϲ͕ϴϯϬ Ψ ϲ͕Ϯϯϴ͕ϰϮϱ ŽŶƚƌŝďƵƚŝŽŶƐĂƐĂƉĞƌĐĞŶƚĂŐĞŽĨƉĂǇƌŽůů ϭ͘ϱй ϭй ϭй
EŽƚĞƐƚŽ^ĐŚĞĚƵůĞ
sĂůƵĂƚŝŽŶĚĂƚĞ͗ ĐƚƵĂƌŝĂůůǇĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐĂƌĞĐĂůĐƵůĂƚĞĚ ĂƐŽĨ:ƵŶĞϯϬ͕ŽŶĞǇĞĂƌƉƌŝŽƌƚŽƚŚĞĞŶĚŽĨƚŚĞĨŝƐĐĂůǇĞĂƌ ŝŶǁŚŝĐŚĐŽŶƚƌŝďƵƚŝŽŶƐƌĞƉŽƌƚĞĚ͘
DĞƚŚŽĚƐĂŶĚĂƐƐƵŵƉƚŝŽŶƐƵƐĞĚƚŽĚĞƚĞƌŵŝŶĞĚĐŽŶƚƌŝďƵƚŝŽŶƌĂƚĞƐ͗ ĐƚƵĂƌŝĂůĐŽƐƚŵĞƚŚŽĚ
ŶƚƌǇͲŐĞEŽƌŵĂůŽƐƚDĞƚŚŽĚ
ŵŽƌƚŝǌĂƚŝŽŶŵĞƚŚŽĚ >ĞǀĞůƉĞƌĐĞŶƚŽĨƉĂǇƌŽůů
ŵŽƌƚŝǌĂƚŝŽŶƉĞƌŝŽĚ ϭϵǇĞĂƌƐ
ƐƐĞƚǀĂůƵĂƚŝŽŶŵĞƚŚŽĚ DĂƌŬĞƚǀĂůƵĞ
/ŶĨůĂƚŝŽŶ Ϯ͘Ϯϱй
,ĞĂůƚŚĐĂƌĞdƌĞŶĚZĂƚĞ ϳйŝŶƚŚĞĨŝƌƐƚǇĞĂƌ͕ƚƌĞŶĚŝŶŐĚŽǁŶƚŽϰйŽǀĞƌϱϴǇĞĂƌƐ͘ /ŶǀĞƐƚŵĞŶƚƌĂƚĞŽĨƌĞƚƵƌŶ ϱ͘ϱϬй
ZĞƚŝƌĞŵĞŶƚĂŐĞ ϱϱ
DŽƌƚĂůŝƚǇ ĞƌŝǀĞĚƵƐŝŶŐĂůW
Z^DĞŵďĞƌƐŚŝƉĂƚĂĨŽƌĂůů&ƵŶĚƐ
EŽƚĞƐƚŽ^ĐŚĞĚƵůĞ͗
Ύ &ŝƐĐĂůǇĞĂƌϮϬϭϴǁĂƐƚŚĞĨŝƌƐƚǇĞĂƌŽĨŝŵƉůĞŵĞŶƚĂƚŝŽŶ͘ 432 CLICK HERE to Return to Agenda
ϴϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
EŽƚĞƚŽZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ
:ƵŶĞϯϬ͕ϮϬϮϭ
EŽƚĞϭͲ ƵĚŐĞƚWƌŽĐĞĚƵƌĞƐ
'ĞŶĞƌĂůƵĚŐĞƚWŽůŝĐŝĞƐ
dŚĞŝƚǇĂĚŽƉƚƐĂŶĂŶŶƵĂůďƵĚŐĞƚƉƌĞƉĂƌĞĚŽŶƚŚĞŵŽĚŝĨŝĞĚĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐĨŽƌŝƚƐŐŽǀĞƌŶŵĞŶƚĂů ĨƵŶĚƐĂŶĚŽŶƚŚĞĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐĨŽƌŝƚƐƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͘dŚĞŝƚǇŵĂŶĂŐĞƌŽƌŚŝƐĚĞƐŝŐŶĞĞŝƐ ĂƵƚŚŽƌŝǌĞĚƚŽƚƌĂŶƐĨĞƌďƵĚŐĞƚĞĚĂŵŽƵŶƚƐďĞƚǁĞĞŶƚŚĞĂĐĐŽƵŶƚƐŽĨĂŶǇĚĞƉĂƌƚŵĞŶƚŽƌĨƵŶĚƐƚŚĂƚĂƌĞĂƉƉƌŽǀĞĚ ďǇŝƚǇŽƵŶĐŝů͘WƌŝŽƌǇĞĂƌĂƉƉƌŽƉƌŝĂƚŝŽŶƐůĂƉƐĞƵŶůĞƐƐƚŚĞǇĂƌĞĂƉƉƌŽǀĞĚĨŽƌĐĂƌƌǇŽǀĞƌŝŶƚŽƚŚĞĨŽůůŽǁŝŶŐĨŝƐĐĂů ǇĞĂƌ͘
ǆƉĞŶĚŝƚƵƌĞƐŵĂǇŶŽƚůĞŐĂůůǇĞǆĐĞĞĚĂƉƉƌŽƉƌŝĂƚŝŽŶƐĂƚƚŚĞĚĞƉĂƌƚŵĞŶƚůĞǀĞů͘ dŚĞŝƚǇĚŝĚŶŽƚĂĚŽƉƚĂďƵĚŐĞƚĨŽƌƚŚĞdƌĂŶƐƉŽƌƚĂƚŝŽŶhŶŝĨŽƌŵDŝƚŝŐĂƚŝŽŶ&ĞĞ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ͘ ƵĚŐĞƚĂƐŝƐŽĨĐĐŽƵŶƚŝŶŐ
ƵĚŐĞƚĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂƌĞĂĚŽƉƚĞĚŽŶĂďĂƐŝƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚŐĞŶĞƌĂůůǇĂĐĐĞƉƚĞĚĂĐĐŽƵŶƚŝŶŐƉƌŝŶĐŝƉůĞƐ ;'WͿ͘

ǆƉĞŶĚŝƚƵƌĞƐŝŶ
ǆĐĞƐƐŽĨƉƉƌŽƉƌŝĂƚŝŽŶƐ
dŚĞĨŽůůŽǁŝŶŐĨƵŶĚƐŚĂĚĞǆƉĞŶĚŝƚƵƌĞƐŝŶĞǆĐĞƐƐŽĨĂƉƉƌŽƉƌŝĂƚŝŽŶƐĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ͗ ƵĚŐĞƚ ĐƚƵĂů sĂƌŝĂŶĐĞ
'ĞŶĞƌĂů&ƵŶĚ
WůĂŶŶŝŶŐĂŶĚĞǀĞůŽƉŵĞŶƚ ΨϮ͕ϵϱϭ͕ϬϬϬ ΨϮ͕ϵϵϳ͕ϰϱϵ Ψ;ϰϲ͕ϰϱϵͿ ĂƉŝƚĂůKƵƚůĂǇ ϭϱϲ͕ϬϬϬ ϰϰϬ͕ϰϴϵ ;Ϯϴϰ͕ϰϴϵͿ dƌĂŶƐĨĞƌƐKƵƚ ϯ͕ϵϱϭ͕ϵϬϬ ϲ͕ϯϱϬ͕ϰϮϯ ;Ϯ͕ϯϵϴ͕ϱϮϯͿ ^ŽƵƚŚŽĂƐƚŝƌYƵĂůŝƚǇ
WůĂŶŶŝŶŐĂŶĚĞǀĞůŽƉŵĞŶƚ ϰϴ͕ϵϬϬ ϱϳ͕ϰϭϯ ;ϴ͕ϱϭϯͿ ^>
^
WƵďůŝĐ^ĂĨĞƚǇ ϭϬϬ͕ϬϬϬ ϭϬϭ͕ϱϯϬ ;ϭ͕ϱϯϬͿ >Ăǁ
ŶĨŽƌĐĞŵĞŶƚ
WƵďůŝĐ^ĂĨĞƚǇ Ϯϰ͕ϲϬϬ ϰϮ͕Ϯϲϯ ;ϭϳ͕ϲϲϯͿ DĞĂƐƵƌĞ
WƵďůŝĐtŽƌŬƐ Ͳ ϴ͕ϳϳϬ ;ϴ͕ϳϳϬͿ WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶ
dƌĂŶƐĨĞƌƐŽƵƚ ϵϱϵ͕ϳϭϯ ϵϲϮ͕ϰϲϵ ;Ϯ͕ϳϱϲͿ 433 CLICK HERE to Return to Agenda
ϴϭ
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ
434 CLICK HERE to Return to Agenda
^ƵƉƉůĞŵĞŶƚĂƌǇ/ŶĨŽƌŵĂƚŝŽŶ
:ƵŶĞϯϬ͕ϮϬϮϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
435 CLICK HERE to Return to Agenda
ϴϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
KƚŚĞƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
^ƉĞĐŝĂůƌĞǀĞŶƵĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƐƉĞĐŝĨŝĐƌĞǀĞŶƵĞƐ;ŽƚŚĞƌƚŚĂŶĞǆƉĞŶĚĂďůĞƚƌƵƐƚƐĂŶĚŵĂũŽƌĐĂƉŝƚĂů ƉƌŽũĞĐƚƐͿĂŶĚƚŚĞƌĞůĂƚĞĚĞǆƉĞŶĚŝƚƵƌĞƐƚŚĂƚĂƌĞůĞŐĂůůǇƌĞƋƵŝƌĞĚƚŽďĞĂĐĐŽƵŶƚĞĚĨŽƌŝŶĂƐĞƉĂƌĂƚĞĨƵŶĚ͘dŚĞŝƚǇ ŽĨ>ĂYƵŝŶƚĂŚĂƐƚŚĞĨŽůůŽǁŝŶŐ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ͗
^ƚĂƚĞ'ĂƐdĂǆ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌŐĂƐŽůŝŶĞĂůůŽĐĂƚŝŽŶƐŵĂĚĞďǇƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘dŚĞƐĞƌĞǀĞŶƵĞƐĂƌĞ ƌĞƐƚƌŝĐƚĞĚďǇƚŚĞ^ƚĂƚĞƚŽĞǆƉĞŶĚŝƚƵƌĞƐĨŽƌƐƚƌĞĞƚͲƌĞůĂƚĞĚƉƵƌƉŽƐĞƐŽŶůǇ͘ >ŝďƌĂƌǇĂŶĚDƵƐĞƵŵ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƌĞǀĞŶƵĞƐĨƌŽŵƉƌŽƉĞƌƚǇƚĂǆŝŶĐƌĞŵĞŶƚĚĞĚŝĐĂƚĞĚůŝďƌĂƌǇĂŶĚ ŵƵƐĞƵŵƐĞƌǀŝĐĞƐ͘
&ĞĚĞƌĂůƐƐŝƐƚĂŶĐĞ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƌĞǀĞŶƵĞƐĨƌŽŵƚŚĞŽŵŵƵŶŝƚǇĞǀĞůŽƉŵĞŶƚůŽĐŬ'ƌĂŶƚƐƌĞĐĞŝǀĞĚ ĨƌŽŵƚŚĞ&ĞĚĞƌĂů'ŽǀĞƌŶŵĞŶƚĂŶĚƚŚĞĞǆƉĞŶĚŝƚƵƌĞƐŽĨƚŚŽƐĞƌĞƐŽƵƌĐĞƐ͘ ^ƚĂƚĞ>Ăǁ
ŶĨŽƌĐĞŵĞŶƚ^ĞƌǀŝĐĞƐĐĐŽƵŶƚ;^>
^Ϳ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƐƚĂƚĞĨƵŶĚĞĚ͞ŝƚŝǌĞŶƐĨŽƌWƵďůŝĐ^ĂĨĞƚǇ͟ ;KW^ͿƉƌŽŐƌĂŵĂĐƚŝǀŝƚŝĞƐ͕ĂƐƉĞƌƐƐĞŵďůǇŝůůϯϮϮϵ͕ǁŚŝĐŚƐƵƉƉůĞŵĞŶƚƐĨƌŽŶƚůŝŶĞƉŽůŝĐĞƐĞƌǀŝĐĞƐƐƵĐŚĂƐĂŶƚŝͲ ŐĂŶŐĐŽŵŵƵŶŝƚǇĐƌŝŵĞƉƌĞǀĞŶƚŝŽŶ͘
>ŝŐŚƚŝŶŐĂŶĚ>ĂŶĚƐĐĂƉŝŶŐ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƐƉĞĐŝĂůĂƐƐĞƐƐŵĞŶƚƐůĞǀŝĞĚŽŶƌĞĂůƉƌŽƉĞƌƚǇĂŶĚƚŚĞĞǆƉĞŶĚŝƚƵƌĞ ƚŚĞƌĞŽĨĨƌŽŵŝƚǇͲǁŝĚĞůŝŐŚƚŝŶŐĂŶĚůĂŶĚƐĐĂƉĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ͘ YƵŝŵďǇ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞĂĐĐƵŵƵůĂƚŝŽŶŽĨĚĞǀĞůŽƉĞƌĨĞĞƐƌĞĐĞŝǀĞĚƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞYƵŝŵďǇ ĐƚĨŽƌƉĂƌŬĚĞǀĞůŽƉŵĞŶƚĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐ͘ĂƉŝƚĂůƉƌŽũĞĐƚƐƚŽďĞĨƵŶĚĞĚĨƌŽŵƚŚŝƐƐŽƵƌĐĞǁŝůůďĞďƵĚŐĞƚĞĚ ĂŶĚĞǆƉĞŶĚĞĚŝŶĂƐĞƉĂƌĂƚĞĐĂƉŝƚĂůƉƌŽũĞĐƚƐĨƵŶĚ͘
>ĂYƵŝŶƚĂWƵďůŝĐ^ĂĨĞƚǇKĨĨŝĐĞƌ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌĐŽŶƚƌŝďƵƚŝŽŶƐƚŽďĞĚŝƐƚƌŝďƵƚĞĚƚŽƉƵďůŝĐƐĂĨĞƚǇŽĨĨŝĐĞƌƐ ĚŝƐĂďůĞĚŽƌŬŝůůĞĚŝŶƚŚĞůŝŶĞŽĨĚƵƚǇ͘
ƌƚŝŶWƵďůŝĐWůĂĐĞƐʹdŽĂĐĐŽƵŶƚĨŽƌĚĞǀĞůŽƉŵĞŶƚĨĞĞƐƉĂŝĚŝŶůŝĞƵŽĨĂĐƋƵŝƐŝƚŝŽŶĂŶĚŝŶƐƚĂůůĂƚŝŽŶŽĨĂƉƉƌŽǀĞĚ ĂƌƚǁŽƌŬƐŝŶĂĚĞǀĞůŽƉŵĞŶƚǁŝƚŚĞǆƉĞŶĚŝƚƵƌĞƐƌĞƐƚƌŝĐƚĞĚƚŽĂĐƋƵŝƐŝƚŝŽŶ͕ŝŶƐƚĂůůĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƌĞƉĂŝƌŽĨ ĂƌƚǁŽƌŬƐĂƚĂƉƉƌŽǀĞĚƐŝƚĞƐ͘
^ŽƵƚŚŽĂƐƚŝƌYƵĂůŝƚǇ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌĐŽŶƚƌŝďƵƚŝŽŶƐĨƌŽŵƚŚĞ^ŽƵƚŚŽĂƐƚŝƌYƵĂůŝƚǇDĂŶĂŐĞŵĞŶƚ ŝƐƚƌŝĐƚ͘hƐĞŝƐůŝŵŝƚĞĚƚŽƌĞĚƵĐƚŝŽŶĂŶĚĐŽŶƚƌŽůŽĨĂŝƌďŽƌŶĞƉŽůůƵƚĂŶƚƐ͘ ϵϯϵ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞ^ƚĂƚĞŵĂŶĚĂƚĞĚƉƌŽŐƌĂŵƚŽƌĞĚƵĐĞǁĂƐƚĞƐĞŶƚƚŽƚŚĞůĂŶĚĨŝůůƐƚŚƌŽƵŐŚ ƌĞĐǇĐůŝŶŐĞĨĨŽƌƚƐ͘
>Ăǁ
ŶĨŽƌĐĞŵĞŶƚ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌůĂǁĞŶĨŽƌĐĞŵĞŶƚŐƌĂŶƚƐĂŶĚƌĞƐƚƌŝĐƚĞĚƌĞǀĞŶƵĞĨŽƌƉƵďůŝĐƐĂĨĞƚǇ͘ DĞĂƐƵƌĞ&ƵŶĚʹ/Ŷϭϵϴϴ͕ZŝǀĞƌƐŝĚĞŽƵŶƚǇǀŽƚĞƌƐĂƉƉƌŽǀĞĚĂŚĂůĨĐĞŶƚƐĂůĞƐƚĂǆ͕ŬŶŽǁŶĂƐDĞĂƐƵƌĞ͕ƚŽĨƵŶĚ ĂǀĂƌŝĞƚǇŽĨŚŝŐŚǁĂǇŝŵƉƌŽǀĞŵĞŶƚƐ͕ůŽĐĂůƐƚƌĞĞƚĂŶĚƌŽĂĚŵĂŝŶƚĞŶĂŶĐĞ͕ĐŽŵŵƵƚĞƌĂƐƐŝƐƚĂŶĐĞĂŶĚƐƉĞĐŝĂůŝǌĞĚ ŚŝŐŚǁĂǇƚƌĂŶƐŝƚƉƌŽũĞĐƚƐ͘dŚŝƐĨƵŶĚŝƐƵƐĞĚƚŽĐŽůůĞĐƚƚŚŝƐƚĂǆĂŶĚƉƵƌƐƵĂŶƚƚŽƚŚĞƉƌŽǀŝƐŝŽŶŽĨDĞĂƐƵƌĞ͕ŝƚŝƐ ƌĞƐƚƌŝĐƚĞĚĨŽƌůŽĐĂůƐƚƌĞĞƚĂŶĚƌŽĂĚĞǆƉĞŶĚŝƚƵƌĞƐ͘
436 CLICK HERE to Return to Agenda
ϴϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
KƚŚĞƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐƌĞůĂƚĞĚƚŽƉƌŽĐĞĞĚƐĨƌŽŵƐĂůĞŽĨ ŝƚǇŽǁŶĞĚůĂŶĚĂŶĚĨƵƚƵƌĞĞĐŽŶŽŵŝĐĚĞǀĞůŽƉŵĞŶƚ͘
ϭϯϳϵ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐƌĞůĂƚĞĚƚŽƚŚĞĂŶŶƵĂůďƵƐŝŶĞƐƐůŝĐĞŶƐĞ ĂĐĐĞƐƐŝďŝůŝƚǇĨĞĞƚŽďĞƵƐĞĚĨŽƌĞǆƉĞŶƐĞƐĞŶŚĂŶĐŝŶŐĂĐĐĞƐƐŝďŝůŝƚǇƌĞƋƵŝƌĞŵĞŶƚƐ͘ dƌĂŶƐƉŽƌƚĂƚŝŽŶhŶŝĨŽƌŵDŝƚŝŐĂƚŝŽŶ&ĞĞ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐƌĞůĂƚĞĚƚŽ dƌĂŶƐƉŽƌƚĂƚŝŽŶhŶŝĨŽƌŵDŝƚŝŐĂƚŝŽŶ&ĞĞŵŽŶŝĞƐ͘
ĂƉŝƚĂůWƌŽũĞĐƚ&ƵŶĚƐ
ĂƉŝƚĂůƉƌŽũĞĐƚƐĨƵŶĚƐĂĐĐŽƵŶƚĨŽƌƚŚĞĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐĞƐƚŽďĞƵƐĞĚĨŽƌƚŚĞĂĐƋƵŝƐŝƚŝŽŶ͕ĐŽŶƐƚƌƵĐƚŝŽŶŽƌ ŝŵƉƌŽǀĞŵĞŶƚƐŽĨŵĂũŽƌĐĂƉŝƚĂůĨĂĐŝůŝƚŝĞƐĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞĂĐĐƵŵƵůĂƚŝŽŶŽĨƌĞƐŽƵƌĐĞƐƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚĚĞǀĞůŽƉĞƌĨĞĞƐĨŽƌƚŚĞ ĂĐƋƵŝƐŝƚŝŽŶ͕ĐŽŶƐƚƌƵĐƚŝŽŶŽƌŝŵƉƌŽǀĞŵĞŶƚŽĨƚŚĞŝƚǇ͛ƐŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ƉƌŝŽƌƚŽĂĚŽƉƚŝŽŶŽĨƚŚĞŶĞǁĞǀĞůŽƉĞƌ /ŵƉĂĐƚ&ĞĞ^ƚƌƵĐƚƵƌĞŽŶƵŐƵƐƚϭϲ͕ϭϵϵϵ͘dŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌĂůůĚĞǀĞůŽƉĞƌƌĞƐŽƵƌĐĞƐƌĞĐĞŝǀĞĚƉƌŝŽƌƚŽƚŚŝƐ ĚĂƚĞ͕ĂŶĚŝƐďƵĚŐĞƚĞĚďǇƚŚĞŽƵŶĐŝůƚŚƌŽƵŐŚĂĚŽƉƚŝŽŶŽĨƚŚĞĂŶŶƵĂůĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƉƌŽŐƌĂŵďƵĚŐĞƚ͘ ŝǀŝĐĞŶƚĞƌ&ƵŶĚʹdŚŝƐĨƵŶĚĂĐĐŽƵŶƚƐĨŽƌƚŚĞĂĐĐƵŵƵůĂƚŝŽŶŽĨƌĞƐŽƵƌĐĞƐƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚĚĞǀĞůŽƉĞƌĨĞĞƐĨŽƌ ƚŚĞĂĐƋƵŝƐŝƚŝŽŶ͕ĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌŝŵƉƌŽǀĞŵĞŶƚŽĨƚŚĞŝǀŝĐĞŶƚĞƌ͘ DĂŝŶƚĞŶĂŶĐĞ&ĂĐŝůŝƚŝĞƐ/&͕dƌĂŶƐƉŽƌƚĂƚŝŽŶ&ƵŶĚ͕WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶƐ&ƵŶĚ͕>ŝďƌĂƌǇĞǀĞůŽƉŵĞŶƚ&ƵŶĚ͕ ŽŵŵƵŶŝƚǇĞŶƚĞƌ&ƵŶĚ͕^ƚƌĞĞƚ&ĂĐŝůŝƚǇ&ƵŶĚ͕WĂƌŬ&ĂĐŝůŝƚǇ&ƵŶĚ͕&ŝƌĞ&ĂĐŝůŝƚǇ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞ ĂĐĐƵŵƵůĂƚŝŽŶŽĨƌĞƐŽƵƌĐĞƐƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚĚĞǀĞůŽƉĞƌĨĞĞƐĨŽƌƚŚĞĂĐƋƵŝƐŝƚŝŽŶ͕ĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌŝŵƉƌŽǀĞŵĞŶƚŽĨ ƚŚĞŝƚǇ͛ƐŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘dŚĞĞǀĞůŽƉĞƌ/ŵƉĂĐƚ&ĞĞǁĂƐĂĚŽƉƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůŽŶƵŐƵƐƚϭϲ͕ϭϵϵϵ͘ ŝŐŚƚ
ĨƵŶĚƐŚĂǀĞďĞĞŶĞƐƚĂďůŝƐŚĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞƐƉĞĐŝĨŝĐŝŵƉĂĐƚĂƌĞĂƐŽĨƚŚĞƐĞĨĞĞƐ͕ĂŶĚĂƌĞďƵĚŐĞƚĞĚďǇƚŚĞ ŽƵŶĐŝůƚŚƌŽƵŐŚĂĚŽƉƚŝŽŶŽĨƚŚĞĂŶŶƵĂůĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐƌĂŵďƵĚŐĞƚ͘ Ğďƚ^ĞƌǀŝĐĞ&ƵŶĚƐ
Ğďƚ^ĞƌǀŝĐĞ&ƵŶĚƐĂƌĞƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞĂĐĐƵŵƵůĂƚŝŽŶŽĨƌĞƐŽƵƌĐĞƐĨŽƌ͕ĂŶĚƚŚĞƉĂǇŵĞŶƚŽĨ͕ ŐŽǀĞƌŶŵĞŶƚĂůůŽŶŐͲƚĞƌŵĚĞďƚƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚ͘
>ĂYƵŝŶƚĂ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ&ƵŶĚʹdŚŝƐĨƵŶĚŝƐƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƚŚĞĚĞďƚƐĞƌǀŝĐĞƚŚĂƚǁŝůůďĞƵƐĞĚĨŽƌƚŚĞ ƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚƉĂǇŵĞŶƚƐŽĨƚŚĞ&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ͛ƐŽƵƚƐƚĂŶĚŝŶŐĚĞďƚĂŶĚĂŶǇƌĞůĂƚĞĚƌĞƉŽƌƚŝŶŐ ƌĞƋƵŝƌĞŵĞŶƚƐ͘
437 CLICK HERE to Return to Agenda
ϴϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
^ƚĂƚĞ >ŝďƌĂƌǇĂŶĚ &ĞĚĞƌĂů >ŝŐŚƚŝŶŐĂŶĚ
'ĂƐdĂǆ DƵƐĞƵŵ ƐƐŝƐƚĂŶĐĞ ^>
^ >ĂŶĚƐĐĂƉŝŶŐ
ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ψ ϭ͕ϯϰϴ͕ϱϱϱ Ψ ϴ͕ϭϰϴ͕ϰϮϲ Ψ ϰ͕ϵϲϵ Ψ Ϯϵϴ͕ϬϱϬ Ψ ϱϮϴ͕ϱϳϮ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ
dĂǆĞƐ ϳϯ͕ϰϳϴ Ͳ Ͳ Ͳ ϰϮ͕ϱϵϯ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϱϯϲ ϯ͕Ϯϲϯ ϭϭϳ ϭϭϵ ϮϭϮ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ ϭ͕Ϭϭϵ Ͳ Ͳ Ͳ
ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ ϲϯ͕ϴϴϮ ϵϱϬ͕ϳϬϮ Ͳ Ͳ Ͳ dŽƚĂůĂƐƐĞƚƐ Ψ ϭ͕ϰϴϲ͕ϰϱϭ Ψ ϵ͕ϭϬϯ͕ϰϭϬ Ψ ϱ͕Ϭϴϲ Ψ Ϯϵϴ͕ϭϲϵ Ψ ϱϳϭ͕ϯϳϳ >ŝĂďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ψ ϵ͕ϮϯϬ Ψ ϭϭϭ͕ϰϮϰ Ψ Ͳ Ψ ϯϮ͕ϲϵϰ Ψ ϳϮ͕ϭϯϴ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ ϭϯ͕ϰϱϮ Ϯ͕ϱϰϮ ͲͲ ϵ͕Ϯϯϵ
hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ Ͳ Ͳ ͲͲ Ͳ
ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ ͲͲ Ͳ
ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ͳ Ͳ ͲͲ Ͳ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϮϮ͕ϲϴϮ ϭϭϯ͕ϵϲϲ Ͳ Ͳ ϯϮ͕ϲϵϰ ϴϭ͕ϯϳϳ ĞĨĞƌƌĞĚ/ŶĨůŽǁŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ
&ƵŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ ϭ͕Ϭϭϵ Ͳ Ͳ Ͳ
ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ
WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ Ϯϲϱ͕ϰϳϱ Ͳ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ ϱ ϴ͕ϵϴϴ͕ϰϮϱ ͕Ϭϴϲ Ͳ Ͳ
WƵďůŝĐǁŽƌŬƐ ϭ͕ϰϲϯ͕ϳϲϵ Ͳ Ͳ Ͳ ϰϵϬ͕ϬϬϬ
ĂƉŝƚĂůƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ
hŶĂƐƐŝŐŶĞĚ Ͳ Ͳ Ͳ Ͳ Ͳ
dŽƚĂůĨƵŶĚďĂůĂŶĐĞƐ ϭ͕ϰϲϯ͕ϳϲϵ ϴ͕ϵϴϵ͕ϰϰϰ ϱ͕Ϭϴϲ Ϯϲϱ͕ϰϳϱ ϰϵϬ͕ϬϬϬ dŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ ϭ͕ϰϴϲ͕ϰϱϭ Ψ Ψ ϵ͕ϭϬϯ͕ϰϭϬ Ψ ϱ͕Ϭϴϲ Ψ Ϯϵϴ͕ϭϲϵ Ψ ϱϳϭ͕ϯϳϳ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
438 CLICK HERE to Return to Agenda
ϴϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
>ĂYƵŝŶƚĂWƵďůŝĐ ƌƚŝŶ ^ŽƵƚŚŽĂƐƚ
YƵŝŵďǇ ^ĂĨĞƚǇKĨĨŝĐĞƌ WƵďůŝĐWůĂĐĞƐ ŝƌYƵĂůŝƚǇ ϵϯϵ
ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ΨͲ Ψϰϵ͕ϱϰϵ Ψϳϲϰ͕ϯϬϴ Ψϯϵ͕ϴϱϰ ΨϴϬϮ͕ϱϭϯ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ dĂǆĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ Ͳ ϮϬ ϯϬϲ ϭϲ ϯϮϭ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ ϭϯ͕ϱϬϬ ϭϯ͕ϲϴϱ dŽƚĂůĂƐƐĞƚƐ ΨͲ Ψϰϵ͕ϱϲϵ Ψϳϲϰ͕ϲϭϰ Ψϱϯ͕ϯϳϬ Ψϴϭϲ͕ϱϭϵ >ŝĂďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ ΨͲ ΨͲ ΨͲ ΨϮϬ͕ϴϰϲ Ψϵ͕ϴϲϲ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ ϮϬ͕ϴϰϲ ϵ͕ϴϲϲ ĞĨĞƌƌĞĚ/ŶĨůŽǁŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ &ƵŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ ϯϮ͕ϱϮϰ ϴϬϲ͕ϲϱϯ WƵďůŝĐƐĂĨĞƚǇ Ͳ ϰϵ͕ϱϲϵ Ͳ Ͳ Ͳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ ϳϲϰ͕ϲϭϰ Ͳ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ Ͳ Ͳ Ͳ ĂƉŝƚĂůƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ hŶĂƐƐŝŐŶĞĚ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůĨƵŶĚďĂůĂŶĐĞƐ Ͳ ϰϵ͕ϱϲϵ ϳϲϰ͕ϲϭϰ ϯϮ͕ϱϮϰ ϴϬϲ͕ϲϱϯ dŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ ΨͲ Ψϰϵ͕ϱϲϵ Ψϳϲϰ͕ϲϭϰ Ψϱϯ͕ϯϳϬ Ψϴϭϲ͕ϱϭϵ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
439 CLICK HERE to Return to Agenda
ϴϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
ĂƉŝƚĂůWƌŽũĞĐƚƐ
&ƵŶĚƐ
dƌĂŶƐƉŽƌƚĂƚŝŽŶ DĂŝŶƚĞŶĂŶĐĞ
>Ăǁ
ĐŽŶŽŵŝĐ hŶŝĨŽƌŵ &ĂĐŝůŝƚŝĞƐ

ŶĨŽƌĐĞŵĞŶƚ DĞĂƐƵƌĞ ĞǀĞůŽƉŵĞŶƚ ϭϯϳϵ DŝƚŝŐĂƚŝŽŶ&ĞĞ /& ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ψ ϰϱϬ͕Ϭϯϴ Ψ Ϯ͕ϲϰϰ͕Ϯϯϭ Ψ ϯ͕Ϭϱϱ͕ϵϱϯ Ψ ϱϮ͕ϬϬϲ Ψ ϴϵ͕ϭϬϰ Ψ ϰϲ͕ϵϵϲ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ ϱϬϬ͕ϬϬϬ Ͳ Ͳ Ͳ
dĂǆĞƐ Ͳ ϱϱϯ͕ϵϳϴ Ͳ Ͳ Ͳ Ͳ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϭϴϬ ϭ͕Ϭϱϵ ϭ͕ϮϮϰ Ϯϭ Ͳ ϭϵ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ
ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůĂƐƐĞƚƐ Ψ ϰϱϬ͕Ϯϭϴ Ψ ϯ͕ϭϵϵ͕Ϯϲϴ Ψ ϯ͕ϱϱϳ͕ϭϳϳ Ψ ϱϮ͕ϬϮϳ Ψ ϴϵ͕ϭϬϰ Ψ ϰϳ͕Ϭϭϱ >ŝĂďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ψ Ϯ͕ϱϴϳ Ψ Ͳ Ψ ϳ͕ϱϭϬ Ψ ϵϯϯ Ψ ϴϭ͕ϲϰϳ Ψ Ͳ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ
hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ
ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ
ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ϯϴ͕ϱϴϯ Ͳ Ͳ Ͳ Ͳ Ͳ
dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϯϭ͕ϭϳϬ Ͳ ϳ͕ϱϭϬ ϵϯϯ ϴϭ͕ϲϰϳ Ͳ ĞĨĞƌƌĞĚ/ŶĨůŽǁŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐ Ͳ Ͳ ϱϬϬ͕ϬϬϬ Ͳ Ͳ Ͳ &ƵŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ
ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ ϱϭ͕Ϭϵϰ ϳ͕ϰϱϳ ϰϳ͕Ϭϭϱ WƵďůŝĐƐĂĨĞƚǇ ϰϭϵ͕Ϭϰϴ Ͳ Ͳ Ͳ Ͳ Ͳ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ ϯ͕Ϭϰϵ͕ϲϲϳ Ͳ Ͳ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ ϯ͕ϭϵϵ͕Ϯϲϴ Ͳ Ͳ Ͳ
ĂƉŝƚĂůƉƌŽũĞĐƚƐ Ͳ ͲͲ Ͳ Ͳ Ͳ
hŶĂƐƐŝŐŶĞĚ Ͳ ͲͲ Ͳ Ͳ Ͳ
dŽƚĂůĨƵŶĚďĂůĂŶĐĞƐ ϰϭϵ͕Ϭϰϴ ϯ͕ϭϵϵ͕Ϯϲϴ ϯ͕Ϭϰϵ͕ϲϲϳ ϱϭ͕Ϭϵϰ ϳ͕ϰϱϳ ϰϳ͕Ϭϭϱ dŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ ϰϱϬ͕Ϯϭϴ Ψ Ψ ϯ͕ϭϵϵ͕Ϯϲϴ Ψ ϯ͕ϱϱϳ͕ϭϳϳ Ψ ϱϮ͕ϬϮϳ Ψ ϴϵ͕ϭϬϰ Ψ ϰϳ͕Ϭϭϱ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
440 CLICK HERE to Return to Agenda
ϴϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
WĂƌŬƐĂŶĚ >ŝďƌĂƌǇ
/ŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝǀŝĐĞŶƚĞƌ dƌĂŶƐƉŽƌƚĂƚŝŽŶ ZĞĐƌĞĂƚŝŽŶ ĞǀĞůŽƉŵĞŶƚ ƐƐĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ψϭϵ͕ϯϵϭ Ψϰϵϴ͕ϰϮϬ ΨϮ͕Ϯϲϱ͕ϱϴϮ ΨͲ ΨͲ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ dĂǆĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϴ ϮϬϬ ϵϬϳ Ͳ Ͳ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ dŽƚĂůĂƐƐĞƚƐ Ψϭϵ͕ϯϵϵ Ψϰϵϴ͕ϲϮϬ ΨϮ͕Ϯϲϲ͕ϰϴϵ ΨͲ ΨͲ >ŝĂďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
>ŝĂďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ ΨͲ ΨͲ ΨͲ ΨͲ ΨͲ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ ϭ͕ϰϱϴ͕ϳϴϵ ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ͳ Ͳ Ͳ ϯϰϲ͕ϯϬϵ Ͳ dŽƚĂůůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ ϯϰϲ͕ϯϬϵ ϭ͕ϰϱϴ͕ϳϴϵ ĞĨĞƌƌĞĚ/ŶĨůŽǁŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ &ƵŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ Ͳ Ͳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ Ͳ Ͳ Ͳ ĂƉŝƚĂůƉƌŽũĞĐƚƐ ϭϵ͕ϯϵϵ ϰϵϴ͕ϲϮϬ Ϯ͕Ϯϲϲ͕ϰϴϵ Ͳ Ͳ hŶĂƐƐŝŐŶĞĚ Ͳ Ͳ Ͳ ;ϯϰϲ͕ϯϬϵͿ ;ϭ͕ϰϱϴ͕ϳϴϵͿ dŽƚĂůĨƵŶĚďĂůĂŶĐĞƐ ϭϵ͕ϯϵϵ ϰϵϴ͕ϲϮϬ Ϯ͕Ϯϲϲ͕ϰϴϵ ;ϯϰϲ͕ϯϬϵͿ ;ϭ͕ϰϱϴ͕ϳϴϵͿ dŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ Ψϭϵ͕ϯϵϵ Ψϰϵϴ͕ϲϮϬ ΨϮ͕Ϯϲϲ͕ϰϴϵ ΨͲ ΨͲ ĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
441 CLICK HERE to Return to Agenda
ϴϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐĂůĂŶĐĞ^ŚĞĞƚʹEŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
Ğďƚ^ĞƌǀŝĐĞ
&ƵŶĚ
dŽƚĂů
ŽŵŵƵŶŝƚǇ &ŝŶĂŶĐŝŶŐ 'ŽǀĞƌŶŵĞŶƚĂů
ĞŶƚĞƌ ^ƚƌĞĞƚ&ĂĐŝůŝƚǇ WĂƌŬ&ĂĐŝůŝƚǇ &ŝƌĞ&ĂĐŝůŝƚǇ ƵƚŚŽƌŝƚǇ &ƵŶĚƐ ĞƚƐ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ Ϯϯϰ͕ϮϵϮ Ψ ϰϯ͕ϮϳϬ Ψ ϱ͕ϵϵϲ Ψ ϭϵϳ͕ϭϴϭ Ψ ϭ͕ϭϬϬ Ψ Ϯϭ͕ϱϴϴ͕ϯϱϲ Ψ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϱϬϬ͕ϬϬϬ dĂǆĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϲϳϬ͕Ϭϰϵ ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϵϰ ϭϳ Ͳ ϳϵ Ͳ ϴ͕ϳϭϴ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϭ͕Ϭϭϵ ƵĞĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ ϭ͕Ϭϰϭ͕ϳϲϵ Ͳ dŽƚĂůĂƐƐĞƚƐ ΨϮϯϰ͕ϯϴϲ Ψϰϯ͕Ϯϴϳ Ψϱ͕ϵϵϲ Ψϭϵϳ͕ϮϲϬ Ψϭ͕ϭϬϬ ΨϮϯ͕ϴϬϵ͕ϵϭϭ ďŝůŝƚŝĞƐĂŶĚ&ƵŶĚĂůĂŶĐĞƐ
ďŝůŝƚŝĞƐ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ Ͳ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ ϭ͕ϭϬϬ Ψ ϯϰϵ͕ϵϳϱ Ψ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ϯϱ͕Ϯϯϯ hŶĞĂƌŶĞĚƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ƵĞƚŽŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϭ͕ϰϱϴ͕ϳϴϵ ƵĞƚŽŽƚŚĞƌĨƵŶĚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϯϳϰ͕ϴϵϮ dŽƚĂůůŝĂďŝůŝƚŝĞƐ Ͳ Ͳ Ͳ Ͳ ϭ͕ϭϬϬ Ϯ͕ϮϬϴ͕ϴϴϵ ĞƌƌĞĚ/ŶĨůŽǁŽĨZĞƐŽƵƌĐĞƐ
hŶĂǀĂŝůĂďůĞƌĞǀĞŶƵĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϱϬϬ͕ϬϬϬ ŶĚĂůĂŶĐĞƐ
EŽŶƐƉĞŶĚĂďůĞ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϭ͕Ϭϭϵ ZĞƐƚƌŝĐƚĞĚĨŽƌ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚƉƌŽũĞĐƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϵϰϰ͕ϳϰϯ WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ ϭϵϳ͕ϮϲϬ Ͳ ϵϯϭ͕ϯϱϮ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ ϱ͕ϵϵϲ Ͳ ϭϮ͕ϴϭϯ͕ϳϴϴ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ ϰϯ͕Ϯϴϳ Ͳ Ͳ ϱ͕ϭϵϲ͕ϯϮϰ Ͳ ĂƉŝƚĂůƉƌŽũĞĐƚƐ Ϯϯϰ͕ϯϴϲ Ͳ Ͳ Ͳ ϯ͕Ϭϭϴ͕ϴϵϰ Ͳ hŶĂƐƐŝŐŶĞĚ Ͳ Ͳ Ͳ Ͳ ;ϭ͕ϴϬϱ͕ϬϵϴͿ Ͳ dŽƚĂůĨƵŶĚďĂůĂŶĐĞƐ Ϯϯϰ͕ϯϴϲ ϰϯ͕Ϯϴϳ ϱ͕ϵϵϲ ϭϵϳ͕ϮϲϬ Ϯϭ͕ϭϬϭ͕ϬϮϮ Ͳ dŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚĨƵŶĚďĂůĂŶĐĞƐ Ϯϯϰ͕ϯϴϲ Ψ Ψϰϯ͕Ϯϴϳ Ψϱ͕ϵϵϲ Ψϭϵϳ͕ϮϲϬ Ψϭ͕ϭϬϬ ΨϮϯ͕ϴϬϵ͕ϵϭϭ ĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
442 CLICK HERE to Return to Agenda
ϵϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
^ƚĂƚĞ >ŝďƌĂƌǇĂŶĚ &ĞĚĞƌĂů >ŝŐŚƚŝŶŐĂŶĚ
'ĂƐdĂǆ DƵƐĞƵŵ ƐƐŝƐƚĂŶĐĞ ^>
^ >ĂŶĚƐĐĂƉŝŶŐ
ZĞǀĞŶƵĞƐ
dĂǆĞƐ ΨͲ ΨͲ ΨͲ ΨͲ ΨͲ ƐƐĞƐƐŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ ϵϴϰ͕ϰϯϱ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭ͕ϲϰϴ͕ϳϬϴ Ϯ͕ϵϳϰ͕ϯϲϰ Ϯϵϯ͕ϭϲϮ ϭϱϲ͕ϳϮϳ Ͳ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϳ͕ϴϮϳ ϭϮ͕Ϭϰϴ ϯ͕ϰϳϭ ϭ͕ϴϵϬ ;Ϯ͕ϲϮϵͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ Ͳ Ͳ Ͳ Ͳ Ͳ DŝƐĐĞůůĂŶĞŽƵƐ Ͳ ϭ͕Ϭϭϭ Ͳ Ͳ Ͳ dŽƚĂůƌĞǀĞŶƵĞƐ ϭ͕ϲϱϲ͕ϱϯϱ Ϯ͕ϵϴϳ͕ϰϮϯ Ϯϵϲ͕ϲϯϯ ϭϱϴ͕ϲϭϳ ϵϴϭ͕ϴϬϲ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ ϭϬϭ͕ϱϯϬ Ͳ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ϯ͕Ϭϰϳ͕ϱϯϯ Ͳ Ͳ Ͳ WƵďůŝĐǁŽƌŬƐ ϵϯϳ͕ϬϮϱ Ͳ Ͳ Ͳ Ϯ͕ϬϭϬ͕ϲϰϲ ĂƉŝƚĂůŽƵƚůĂǇ Ͳ ϱϱϭ Ͳ Ͳ Ͳ ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ ϵϯϳ͕ϬϮϱ Ϯ͕Ϭϰϴ͕Ϭϴϰ Ͳ ϭϬϭ͕ϱϯϬ Ϯ͕ϬϭϬ͕ϲϰϲ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ ϳϭϵ͕ϱϭϬ ϵϯϵ͕ϯϯϵ Ϯϵϲ͕ϲϯϯ ϱϳ͕Ϭϴϳ ;ϭ͕ϬϮϴ͕ϴϰϬͿ KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
dƌĂŶƐĨĞƌƐŝŶ ϱϬ͕ϬϬϬ Ͳ Ͳ Ͳ ϴϳϭ͕ϬϬϬ dƌĂŶƐĨĞƌƐŽƵƚ ;Ϯϵϵ͕ϯϴϰͿ Ͳ ;Ϯϴϲ͕ϮϳϲͿ Ͳ Ͳ dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ;ƵƐĞƐͿ ;Ϯϰϵ͕ϯϴϰͿ Ͳ ;Ϯϴϲ͕ϮϳϲͿ Ͳ ϴϳϭ͕ϬϬϬ EĞƚŚĂŶŐĞŝŶ&ƵŶĚĂůĂŶĐĞƐ ϰϳϬ͕ϭϮϲ ϵϯϵ͕ϯϯϵ ϭϬ͕ϯϱϳ ϱϳ͕Ϭϴϳ ;ϭϱϳ͕ϴϰϬͿ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϵϵϯ͕ϲϰϯ ϴ͕ϬϱϬ͕ϭϬϱ ;ϱ͕ϮϳϭͿ ϮϬϴ͕ϯϴϴ ϲϰϳ͕ϴϰϬ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ Ψϭ͕ϰϲϯ͕ϳϲϵ Ψϴ͕ϵϴϵ͕ϰϰϰ Ψϱ͕Ϭϴϲ ΨϮϲϱ͕ϰϳϱ ΨϰϵϬ͕ϬϬϬ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
443 CLICK HERE to Return to Agenda
ϵϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
>ĂYƵŝŶƚĂWƵďůŝĐ ƌƚŝŶ ^ŽƵƚŚŽĂƐƚ
YƵŝŵďǇ ^ĂĨĞƚǇKĨĨŝĐĞƌ WƵďůŝĐWůĂĐĞƐ ŝƌYƵĂůŝƚǇ ϵϯϵ
ZĞǀĞŶƵĞƐ
dĂǆĞƐ Ψ Ͳ Ψ Ͳ ΨͲ Ͳ Ψ Ψ ϲϬ͕ϰϴϲ
ƐƐĞƐƐŵĞŶƚƐ ͲͲ ͲͲ Ͳ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů Ͳ Ͳ Ͳ ϲϲ͕Ϯϲϴ ϭϬ͕ϯϬϯ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ;Ϯϭ͕ϴϭϯͿ ϭϮ ϵϱϲ ϭϱϭ ;ϭϲϴͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϱϳ͕ϮϮϴ Ͳ ϴϰ͕ϵϳϳ Ͳ Ͳ DŝƐĐĞůůĂŶĞŽƵƐ Ͳ Ͳ Ͳ Ͳ Ͳ
dŽƚĂůƌĞǀĞŶƵĞƐ ϯϱ͕ϰϭϱ ϭϮ ϴϱ͕ϵϯϯ ϲϲ͕ϰϭϵ ϳϬ͕ϲϮϭ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ
WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ Ͳ Ͳ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ͳ Ͳ Ͳ ϱϳ͕ϰϭϯ ϱϯ͕ϵϯϮ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ ϰϵ͕ϴϰϱ Ͳ Ͳ
WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ Ͳ Ͳ Ͳ
ĂƉŝƚĂůŽƵƚůĂǇ Ͳ Ͳ ϭϯ͕ϱϬϬ Ͳ Ͳ
ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ
dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ Ͳ Ͳ ϲϯ͕ϯϰϱ ϱϳ͕ϰϭϯ ϱϯ͕ϵϯϮ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ ϯϱ͕ϰϭϱ ϭϮ ϮϮ͕ϱϴϴ ϵ͕ϬϬϲ ϭϲ͕ϲϴϵ
KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
dƌĂŶƐĨĞƌƐŝŶ Ͳ Ϯ͕ϬϬϬ ϱϬ͕ϬϬϬ Ͳ Ͳ
dƌĂŶƐĨĞƌƐŽƵƚ ;ϭ͕ϲϬϬ͕ϵϴϵͿ Ͳ Ͳ Ͳ Ͳ
dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ;ƵƐĞƐͿ ;ϭ͕ϲϬϬ͕ϵϴϵͿ Ϯ͕ϬϬϬ ϱϬ͕ϬϬϬ Ͳ Ͳ EĞƚŚĂŶŐĞŝŶ&ƵŶĚĂůĂŶĐĞƐ ;ϭ͕ϱϲϱ͕ϱϳϰͿ Ϯ͕ϬϭϮ ϳϮ͕ϱϴϴ ϵ͕ϬϬϲ ϭϲ͕ϲϴϵ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϭ͕ϱϲϱ͕ϱϳϰ ϰϳ͕ϱϱϳ ϲϵϮ͕ϬϮϲ Ϯϯ͕ϱϭϴ ϳϴϵ͕ϵϲϰ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ Ψ Ͳ Ψ ϰϵ͕ϱϲϵ Ψ ϳϲϰ͕ϲϭϰ Ψ ϯϮ͕ϱϮϰ Ψ ϴϬϲ͕ϲϱϯ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
444 CLICK HERE to Return to Agenda
ϵϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
ĂƉŝƚĂůWƌŽũĞĐƚƐ
&ƵŶĚ
dƌĂŶƐƉŽƌƚĂƚŝŽŶ DĂŝŶƚĞŶĂŶĐĞ
>Ăǁ
ĐŽŶŽŵŝĐ hŶŝĨŽƌŵ &ĂĐŝůŝƚŝĞƐ

ŶĨŽƌĐĞŵĞŶƚ DĞĂƐƵƌĞ ĞǀĞůŽƉŵĞŶƚ ϭϯϳϵ DŝƚŝŐĂƚŝŽŶ&ĞĞ /& ZĞǀĞŶƵĞƐ
dĂǆĞƐ Ͳ Ψ ϭ͕ϵϭϳ͕ϰϰϲ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ ƐƐĞƐƐŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϬ͕ϰϴϲ Ͳ Ͳ ϭϳ͕ϭϭϮ Ͳ Ͳ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ;ϭϬ͕ϯϵϳͿ Ϯϯ͕Ϯϭϳ ;Ϯϭ͕ϴϳϲͿ ϮϮϳ ;ϰ͕ϬϰϬͿ ϲϵϭ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ Ͳ Ͳ Ͳ Ͳ Ͳ ϰϲ͕ϯϮϰ DŝƐĐĞůůĂŶĞŽƵƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůƌĞǀĞŶƵĞƐ ϴϵ ϭ͕ϵϰϬ͕ϲϲϯ ;Ϯϭ͕ϴϳϲͿ ϭϳ͕ϯϯϵ ;ϰ͕ϬϰϬͿ ϰϳ͕Ϭϭϱ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ WƵďůŝĐƐĂĨĞƚǇ ϰϮ͕Ϯϲϯ Ͳ Ͳ Ͳ Ͳ Ͳ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ͳ Ͳ ϭ͕ϰϵϰ͕ϯϳϰ ϯ͕ϯϭϬ Ͳ Ͳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ ϴ͕ϳϳϬ Ͳ Ͳ Ͳ Ͳ ĂƉŝƚĂůŽƵƚůĂǇ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ ϰϮ͕Ϯϲϯ ϴ͕ϳϳϬ ϭ͕ϰϵϰ͕ϯϳϰ ϯ͕ϯϭϬ Ͳ Ͳ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ ;ϰϮ͕ϭϳϰͿ ϭ͕ϵϯϭ͕ϴϵϯ ;ϭ͕ϱϭϲ͕ϮϱϬͿ ϭϰ͕ϬϮϵ ;ϰ͕ϬϰϬͿ ϰϳ͕Ϭϭϱ KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
dƌĂŶƐĨĞƌƐŝŶ ϯϯϮ͕ϬϬϬ ϱϬϬ͕ϬϬϬ Ͳ Ͳ Ͳ Ͳ dƌĂŶƐĨĞƌƐŽƵƚ ;ϭ͕Ϭϴϱ͕ϴϵϵͿ ;ϮϲϬ͕ϬϴϱͿ Ͳ Ͳ Ͳ Ͳ dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ;ƵƐĞƐͿ ;ϳϱϯ͕ϴϵϵͿ ;ϮϲϬ͕ϬϴϱͿ ϱϬϬ͕ϬϬϬ Ͳ Ͳ Ͳ EĞƚŚĂŶŐĞŝŶ&ƵŶĚĂůĂŶĐĞƐ ;ϳϵϲ͕ϬϳϯͿ ϭ͕ϲϳϭ͕ϴϬϴ ;ϭ͕Ϭϭϲ͕ϮϱϬͿ ϭϰ͕ϬϮϵ ;ϰ͕ϬϰϬͿ ϰϳ͕Ϭϭϱ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϭ͕Ϯϭϱ͕ϭϮϭ ϭ͕ϱϮϳ͕ϰϲϬ ϰ͕Ϭϲϱ͕ϵϭϳ ϯϳ͕Ϭϲϱ ϭϭ͕ϰϵϳ Ͳ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ Ψϰϭϵ͕Ϭϰϴ Ψϯ͕ϭϵϵ͕Ϯϲϴ Ψϯ͕Ϭϰϵ͕ϲϲϳ Ψϱϭ͕Ϭϵϰ Ψϳ͕ϰϱϳ Ψϰϳ͕Ϭϭϱ ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚƐ
445 CLICK HERE to Return to Agenda
ϵϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
WĂƌŬƐĂŶĚ >ŝďƌĂƌǇ
/ŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝǀŝĐĞŶƚĞƌ dƌĂŶƐƉŽƌƚĂƚŝŽŶ ZĞĐƌĞĂƚŝŽŶ ĞǀĞůŽƉŵĞŶƚ ZĞǀĞŶƵĞƐ
dĂǆĞƐ Ͳ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ
ƐƐĞƐƐŵĞŶƚƐ ͲͲ ͲͲ Ͳ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů Ͳ Ͳ ͲͲ Ͳ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ;ϵͿ Ϯ͕ϴϮϴ ;ϱ͕ϱϰϯͿ ;ϱ͕ϵϯϵͿ Ͳ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ Ͳ ϭϵϰ͕ϱϮϭ ϲ ϵϯ͕ϱϴϲ ϯϮϴ͕ϬϳϮ ϲϭ͕ϱϯϭ DŝƐĐĞůůĂŶĞŽƵƐ Ͳ ͲͲ Ͳ Ͳ
dŽƚĂůƌĞǀĞŶƵĞƐ ;ϵͿ ϲ ϭϵϳ͕ϯϰϵ ϴϴ͕Ϭϰϯ ϯϮϮ͕ϭϯϯ ϲϭ͕ϱϯϭ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ
WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ Ͳ Ͳ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ͳ Ͳ Ͳ Ͳ Ͳ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ Ͳ Ͳ Ͳ
WƵďůŝĐǁŽƌŬƐ Ͳ ϰϬϬ͕ϬϬϭ Ͳ Ͳ Ͳ
ĂƉŝƚĂůŽƵƚůĂǇ Ͳ Ͳ Ͳ Ͳ Ͳ
ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ Ͳ ϭϱ͕ϭϯϯ
dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ Ͳ ϰϬϬ͕ϬϬϭ Ͳ Ͳϭϱ͕ϭϯϯ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ ;ϵͿ Ϯ ϭϵϳ͕ϯϰϵ ϴϴ͕ϬϰϮ ϯϮϮ͕ϭϯϯ ϰϲ͕ϯϵϴ KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
dƌĂŶƐĨĞƌƐŝŶ Ͳ Ͳ Ͳ Ͳ Ͳ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ;ϯϰϯ͕ϬϱϱͿ Ͳ ;ϵϲϮ͕ϰϲϵͿ Ͳ
dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ;ƵƐĞƐͿ Ͳ ;ϯϰϯ͕ϬϱϱͿ Ͳ ;ϵϲϮ͕ϰϲϵͿ Ͳ EĞƚŚĂŶŐĞŝŶ&ƵŶĚĂůĂŶĐĞƐ ;ϵͿ ; ϭϵϳ͕ϯϰϵ ϱϱ͕ϬϭϯͿ ;ϲϰϬ͕ϯϯϲͿ ϰϲ͕ϯϵϴ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϭϵ͕ϰϬϴ ϯϬϭ͕Ϯϳϭ Ϯ͕ϯϮϭ͕ϱϬϮ Ϯϵϰ͕ϬϮϳ ;ϭ͕ϱϬϱ͕ϭϴϳͿ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ Ψ ϭϵ͕ϯϵϵ Ψ ϰϵϴ͕ϲϮϬ Ψ Ϯ͕Ϯϲϲ͕ϰϴϵ Ψ ;ϯϰϲ͕ϯϬϵͿ Ψ ;ϭ͕ϰϱϴ͕ϳϴϵͿ ĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
446 CLICK HERE to Return to Agenda
ϵϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶĚŝƚƵƌĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚĂůĂŶĐĞƐʹ
EŽŶŵĂũŽƌ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
Ğďƚ^ĞƌǀŝĐĞ
&ƵŶĚ
dŽƚĂů
ŽŵŵƵŶŝƚǇ &ŝŶĂŶĐŝŶŐ 'ŽǀĞƌŶŵĞŶƚĂů
ĞŶƚĞƌ ^ƚƌĞĞƚ&ĂĐŝůŝƚǇ WĂƌŬ&ĂĐŝůŝƚǇ &ŝƌĞ&ĂĐŝůŝƚǇ ƵƚŚŽƌŝƚǇ &ƵŶĚƐ ZĞǀĞŶƵĞƐ
dĂǆĞƐ ΨͲ ΨͲ ΨͲ ΨͲ Ψ ϭ͕ϵϳϳ͕ϵϯϮ Ͳ Ψ ƐƐĞƐƐŵĞŶƚƐ Ͳ Ͳ Ͳ Ͳ ϵϴϰ͕ϰϯϱ Ͳ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů Ͳ Ͳ Ͳ Ͳ ϱ͕ϭϳϳ͕ϭϯϬ Ͳ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϳϱϮ ϲϮ ;ϰϳͿ ϴϲϳ ϭ͕ϭϬϬ ;ϭϲ͕ϯϲϮͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϭϰϮ͕ϱϮϬ ϰ͕Ϭϵϱ ϯϮϬ ϲϬ͕ϯϱϳ ϭ͕ϲϳϯ͕ϱϯϭ Ͳ DŝƐĐĞůůĂŶĞŽƵƐ Ͳ Ͳ Ͳ Ͳ Ͳ ϭ͕Ϭϭϭ dŽƚĂůƌĞǀĞŶƵĞƐ ϭϰϯ͕ϮϳϮ ϰ͕ϭϱϳ Ϯϳϯ ϲϭ͕ϮϮϰ ϭ͕ϭϬϬ ϵ͕ϳϵϳ͕ϲϳϳ

ǆƉĞŶĚŝƚƵƌĞƐ
ƵƌƌĞŶƚ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ Ͳ Ͳ Ͳ Ͳ ϭ͕ϭϬϬ ϭ͕ϭϬϬ WƵďůŝĐƐĂĨĞƚǇ Ͳ Ͳ Ͳ Ͳ ϭϰϯ͕ϳϵϯ Ͳ WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ Ͳ Ͳ Ͳ Ͳ ϭ͕ϲϬϵ͕ϬϮϵ Ͳ ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ Ͳ Ͳ Ͳ Ͳ Ϯ͕Ϭϵϳ͕ϯϳϴ Ͳ WƵďůŝĐǁŽƌŬƐ Ͳ Ͳ Ͳ Ͳ ϯ͕ϯϱϲ͕ϰϰϮ Ͳ ĂƉŝƚĂůŽƵƚůĂǇ Ͳ Ͳ Ͳ Ͳ ϭϰ͕Ϭϱϭ Ͳ ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ Ͳ Ͳ Ͳ Ͳ ϭϱ͕ϭϯϯ Ͳ dŽƚĂůĞǆƉĞŶĚŝƚƵƌĞƐ Ͳ Ͳ Ͳ Ͳ ϭ͕ϭϬϬ ϳ͕Ϯϯϲ͕ϵϮϲ

ǆĐĞƐƐ;ĞĨŝĐŝĞŶĐǇͿŽĨZĞǀĞŶƵĞƐ
ŽǀĞƌ;ƵŶĚĞƌͿ
ǆƉĞŶĚŝƚƵƌĞƐ ϭϰϯ͕ϮϳϮ ϰ͕ϭϱϳ Ϯϳϯ ϲϭ͕ϮϮϰ Ϯ͕ϱϲϬ͕ϳϱϭ Ͳ KƚŚĞƌ&ŝŶĂŶĐŝŶŐ^ŽƵƌĐĞƐ;hƐĞƐͿ
dƌĂŶƐĨĞƌƐŝŶ Ͳ Ͳ Ͳ Ͳ ϭ͕ϴϬϱ͕ϬϬϬ Ͳ dƌĂŶƐĨĞƌƐŽƵƚ ;ϭϬϭ͕ϲϯϵͿ Ͳ Ͳ Ͳ ;ϰ͕ϵϯϵ͕ϳϵϲͿ Ͳ dŽƚĂůŽƚŚĞƌĨŝŶĂŶĐŝŶŐƐŽƵƌĐĞƐ;ƵƐĞƐͿ ;ϭϬϭ͕ϲϯϵͿ Ͳ Ͳ Ͳ ;ϯ͕ϭϯϰ͕ϳϵϲͿ Ͳ EĞƚŚĂŶŐĞŝŶ&ƵŶĚĂůĂŶĐĞƐ ϰϭ͕ϲϯϯ ϰ͕ϭϱϳ Ϯϳϯ ϲϭ͕ϮϮϰ ;ϱϳϰ͕ϬϰϱͿ Ͳ &ƵŶĚĂůĂŶĐĞƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϭϵϮ͕ϳϱϯ ϯϵ͕ϭϯϬ ϱ͕ϳϮϯ ϭϯϲ͕Ϭϯϲ Ϯϭ͕ϲϳϱ͕Ϭϲϳ Ͳ &ƵŶĚĂůĂŶĐĞƐ͕
ŶĚŽĨzĞĂƌ ΨϮϯϰ͕ϯϴϲ Ψϰϯ͕Ϯϴϳ Ψϱ͕ϵϵϲ Ψϭϵϳ͕ϮϲϬ Ψ Ϯϭ͕ϭϬϭ͕ϬϮϮ Ͳ Ψ ĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚƐ
447 CLICK HERE to Return to Agenda
ϵϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
^ƚĂƚĞ'ĂƐdĂǆ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϵϵϯ͕ϲϰϯ Ψ ϵϵϯ͕ϲϰϯ Ψ ϵϵϯ͕ϲϰϯ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭ͕ϳϭϵ͕ϰϬϬ ϭ͕ϳϯϮ͕ϴϬϬ ϭ͕ϲϰϴ͕ϳϬϴ ;ϴϰ͕ϬϵϮͿ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϵ͕ϬϬϬ ϵ͕ϬϬϬ ϳ͕ϴϮϳ ;ϭ͕ϭϳϯͿ dƌĂŶƐĨĞƌƐŝŶ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ Ͳ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ Ϯ͕ϳϳϮ͕Ϭϰϯ Ϯ͕ϳϴϱ͕ϰϰϯ Ϯ͕ϳϬϬ͕ϭϳϴ ;ϴϱ͕ϮϲϱͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐǁŽƌŬƐ ϵϴϬ͕ϮϬϬ ϭ͕ϬϲϮ͕ϮϬϬ ϵϯϳ͕ϬϮϱ ϭϮϱ͕ϭϳϱ
dƌĂŶƐĨĞƌƐŽƵƚ ϳϵϱ͕ϭϬϬ ϭ͕ϮϮϲ͕ϱϲϵ Ϯϵϵ͕ϯϴϰ ϵϮϳ͕ϭϴϱ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϳϳϱ͕ϯϬϬ Ϯ͕Ϯϴϴ͕ϳϲϵ ϭ͕Ϯϯϲ͕ϰϬϵ ϭ͕ϬϱϮ͕ϯϲϬ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϵϵϲ͕ϳϰϯ Ψ ϰϵϲ͕ϲϳϰ Ψ ϭ͕ϰϲϯ͕ϳϲϵ Ψ ϵϲϳ͕Ϭϵϱ ƵĚŐĞƚŵŽƵŶƚƐ
448 CLICK HERE to Return to Agenda
ϵϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
>ŝďƌĂƌǇĂŶĚDƵƐĞƵŵ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϴ͕ϬϱϬ͕ϭϬϱ Ψ ϴ͕ϬϱϬ͕ϭϬϱ Ψ ϴ͕ϬϱϬ͕ϭϬϱ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů Ϯ͕ϳϮϳ͕ϬϬϬ Ϯ͕ϳϮϳ͕ϬϬϬ Ϯ͕ϵϳϰ͕ϯϲϰ Ϯϰϳ͕ϯϲϰ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϴϬ͕ϬϬϬ ϴϬ͕ϬϬϬ ϭϮ͕Ϭϰϴ ;ϲϳ͕ϵϱϮͿ DŝƐĐĞůůĂŶĞŽƵƐƌĞǀĞŶƵĞ ϭ͕ϱϬϬ ϮϬϬ ϭ͕Ϭϭϭ ϴϭϭ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϬ͕ϴϱϴ͕ϲϬϱ ϭϬ͕ϴϱϳ͕ϯϬϱ ϭϭ͕Ϭϯϳ͕ϱϮϴ ϭϴϬ͕ϮϮϯ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϭ͕ϳϭϬ͕ϭϬϬ Ϯ͕ϯϭϯ͕ϭϬϬ Ϯ͕Ϭϰϳ͕ϱϯϯ Ϯϲϱ͕ϱϲϳ ĂƉŝƚĂůKƵƚůĂǇ ϱ͕ϬϬϬ ϱ͕ϬϬϬ ϱϱϭ ϰ͕ϰϰϵ
dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϳϭϱ͕ϭϬϬ Ϯ͕ϯϭϴ͕ϭϬϬ Ϯ͕Ϭϰϴ͕Ϭϴϰ ϮϳϬ͕Ϭϭϲ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϵ͕ϭϰϯ͕ϱϬϱ Ψ Ψ ϴ͕ϱϯϵ͕ϮϬϱ Ψ ϴ͕ϵϴϵ͕ϰϰϰ Ψ ϰϱϬ͕Ϯϯϵ ƵĚŐĞƚŵŽƵŶƚƐ
449 CLICK HERE to Return to Agenda
ϵϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
&ĞĚĞƌĂůƐƐŝƐƚĂŶĐĞ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψ;ϱ͕ϮϳϭͿ Ψ;ϱ͕ϮϳϭͿ Ψ;ϱ͕ϮϳϭͿ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϰϭ͕ϵϬϬ ϭϰϳ͕ϰϳϮ Ϯϵϯ͕ϭϲϮ ϭϰϱ͕ϲϵϬ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ Ͳ Ͳ ϯ͕ϰϳϭ ϯ͕ϰϳϭ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϯϲ͕ϲϮϵ ϭϰϮ͕ϮϬϭ Ϯϵϭ͕ϯϲϮ ϭϰϵ͕ϭϲϭ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐtŽƌŬƐ ϮϬ͕ϬϬϬ ϮϬ͕ϬϬϬ Ͳ ϮϬ͕ϬϬϬ dƌĂŶƐĨĞƌƐŽƵƚ ϭϮϭ͕ϵϬϬ ϯϬϭ͕ϯϯϵ Ϯϴϲ͕Ϯϳϲ ϭϱ͕Ϭϲϯ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϰϭ͕ϵϬϬ ϯϮϭ͕ϯϯϵ Ϯϴϲ͕Ϯϳϲ ϯϱ͕Ϭϲϯ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ;ϱ͕ϮϳϭͿ Ψ;ϭϳϵ͕ϭϯϴͿ Ψϱ͕Ϭϴϲ Ψϭϴϰ͕ϮϮϰ ƵĚŐĞƚŵŽƵŶƚƐ
450 CLICK HERE to Return to Agenda
ϵϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
^>
^
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ΨϮϬϴ͕ϯϴϴ ΨϮϬϴ͕ϯϴϴ ΨϮϬϴ͕ϯϴϴ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϬϬ͕ϬϬϬ ϭϬϬ͕ϬϬϬ ϭϱϲ͕ϳϮϳ ϱϲ͕ϳϮϳ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭ͕ϬϬϬ ϭ͕ϬϬϬ ϭ͕ϴϵϬ ϴϵϬ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϯϬϵ͕ϯϴϴ ϯϬϵ͕ϯϴϴ ϯϲϳ͕ϬϬϱ ϱϳ͕ϲϭϳ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐƐĂĨĞƚǇ ϭϬϬ͕ϬϬϬ ϭϬϬ͕ϬϬϬ ϭϬϭ͕ϱϯϬ ;ϭ͕ϱϯϬͿ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ΨϮϬϵ͕ϯϴϴ ΨϮϬϵ͕ϯϴϴ ΨϮϲϱ͕ϰϳϱ Ψϱϲ͕Ϭϴϳ ƵĚŐĞƚŵŽƵŶƚƐ
451 CLICK HERE to Return to Agenda
ϵϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
>ŝŐŚƚŝŶŐĂŶĚ>ĂŶĚƐĐĂƉŝŶŐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϲϰϳ͕ϴϰϬ Ψ ϲϰϳ͕ϴϰϬ Ψ ϲϰϳ͕ϴϰϬ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
ƐƐĞƐƐŵĞŶƚƐ ϵϵϲ͕ϬϬϬ ϵϳϲ͕ϭϬϬ ϵϴϰ͕ϰϯϱ ϴ͕ϯϯϱ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭϬ͕ϬϬϬ ϭϬ͕ϬϬϬ ;Ϯ͕ϲϮϵͿ ;ϭϮ͕ϲϮϵͿ dƌĂŶƐĨĞƌƐŝŶ ϴϳϭ͕ϬϬϬ ϴϳϭ͕ϬϬϬ ϴϳϭ͕ϬϬϬ Ͳ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ Ϯ͕ϱϮϰ͕ϴϰϬ Ϯ͕ϱϬϰ͕ϵϰϬ Ϯ͕ϱϬϬ͕ϲϰϲ ;ϰ͕ϮϵϰͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐǁŽƌŬƐ ϭ͕ϴϳϲ͕ϲϬϬ Ϯ͕ϭϮϲ͕ϲϬϬ Ϯ͕ϬϭϬ͕ϲϰϲ ϭϭϱ͕ϵϱϰ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϲϰϴ͕ϮϰϬ Ψ ϯϳϴ͕ϯϰϬ Ψ ϰϵϬ͕ϬϬϬ Ψ ϭϭϭ͕ϲϲϬ ƵĚŐĞƚŵŽƵŶƚƐ
452 CLICK HERE to Return to Agenda
ϭϬϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
YƵŝŵďǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψϭ͕ϱϲϱ͕ϱϳϰ Ψϭ͕ϱϲϱ͕ϱϳϰ Ψϭ͕ϱϲϱ͕ϱϳϰ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϯϬ͕ϬϬϬ ϯϬ͕ϬϬϬ ;Ϯϭ͕ϴϭϯͿ ;ϱϭ͕ϴϭϯͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ ϱϳ͕ϮϮϴ ϳ͕ϮϮϴ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϲϰϱ͕ϱϳϰ ϭ͕ϲϰϱ͕ϱϳϰ ϭ͕ϲϬϬ͕ϵϴϵ ;ϰϰ͕ϱϴϱͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
dƌĂŶƐĨĞƌƐŽƵƚ Ϯ͕ϳϴϭ͕ϲϮϱ Ͳ ϭ͕ϲϬϬ͕ϵϴϵ ϭ͕ϭϴϬ͕ϲϯϲ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϭ͕ϲϰϱ͕ϱϳϰ Ψ Ψ;ϭ͕ϭϯϲ͕ϬϱϭͿ Ψ ϭ͕ϭϯϲ͕Ϭϱϭ Ͳ Ψ ƵĚŐĞƚŵŽƵŶƚƐ
453 CLICK HERE to Return to Agenda
ϭϬϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
WƵďůŝĐ^ĂĨĞƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϰϳ͕ϱϱϳ Ψ ϰϳ͕ϱϱϳ Ψ ϰϳ͕ϱϱϳ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϲϬϬ ϲϬϬ ϭϮ ;ϱϴϴͿ
dƌĂŶƐĨĞƌƐŝŶ Ϯ͕ϬϬϬ Ϯ͕ϬϬϬ Ϯ͕ϬϬϬ Ͳ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϱϬ͕ϭϱϳ ϱϬ͕ϭϱϳ ϰϵ͕ϱϲϵ ;ϱϴϴͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϱϬ͕ϭϱϳ Ψ ϱϬ͕ϭϱϳ Ψ ϰϵ͕ϱϲϵ Ψ ;ϱϴϴͿ ƵĚŐĞƚŵŽƵŶƚƐ
454 CLICK HERE to Return to Agenda
ϭϬϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
ƌƚŝŶWƵďůŝĐWůĂĐĞƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ΨϲϵϮ͕ϬϮϲ ΨϲϵϮ͕ϬϮϲ ΨϲϵϮ͕ϬϮϲ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϲ͕ϬϬϬ ϲ͕ϬϬϬ ϵϱϲ ;ϱ͕ϬϰϰͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϱϱ͕ϬϬϬ ϲϱ͕ϬϬϬ ϴϰ͕ϵϳϳ ϭϵ͕ϵϳϳ dƌĂŶƐĨĞƌ/Ŷ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ Ͳ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϴϬϯ͕ϬϮϲ ϴϭϯ͕ϬϮϲ ϴϮϳ͕ϵϱϵ ϭϰ͕ϵϯϯ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϲϬ͕ϬϬϬ ϲϬ͕ϬϬϬ ϰϵ͕ϴϰϱ ϭϬ͕ϭϱϱ ĂƉŝƚĂůŽƵƚůĂǇ ϱϬ͕ϬϬϬ ϱϬ͕ϬϬϬ ϭϯ͕ϱϬϬ ϯϲ͕ϱϬϬ dƌĂŶƐĨĞƌƐŽƵƚ ϲϭϱ͕ϳϬϬ Ͳ ϲϭϱ͕ϳϬϬ Ͳ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϭϬ͕ϬϬϬ ϳϮϱ͕ϳϬϬ ϲϯ͕ϯϰϱ ϲϲϮ͕ϯϱϱ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψϲϵϯ͕ϬϮϲ Ψϴϳ͕ϯϮϲ Ψϳϲϰ͕ϲϭϰ Ψϲϳϳ͕Ϯϴϴ ƵĚŐĞƚŵŽƵŶƚƐ
455 CLICK HERE to Return to Agenda
ϭϬϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
^ŽƵƚŚŽĂƐƚŝƌYƵĂůŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ϯϯ͕ϱϭϴ Ψ Ϯϯ͕ϱϭϴ Ψ Ϯϯ͕ϱϭϴ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϱϮ͕ϬϬϬ ϱϮ͕ϬϬϬ ϲϲ͕Ϯϲϴ ϭϰ͕Ϯϲϴ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭ͕ϬϬϬ ϭ͕ϬϬϬ ϭϱϭ ;ϴϰϵͿ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϳϲ͕ϱϭϴ ϳϲ͕ϱϭϴ ϴϵ͕ϵϯϳ ϭϯ͕ϰϭϵ
ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϰϮ͕ϮϬϬ ϰϴ͕ϵϬϬ ϱϳ͕ϰϭϯ ;ϴ͕ϱϭϯͿ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϯϰ͕ϯϭϴ Ψ Ϯϳ͕ϲϭϴ Ψ ϯϮ͕ϱϮϰ Ψ ϰ͕ϵϬϲ ƵĚŐĞƚŵŽƵŶƚƐ
456 CLICK HERE to Return to Agenda
ϭϬϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
ϵϯϵ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψϳϴϵ͕ϵϲϰ Ψϳϴϵ͕ϵϲϰ Ψϳϴϵ͕ϵϲϰ ΨͲ ZĞƐŽƵƌĐĞƐ;/Ŷ&ůŽǁƐͿ
dĂǆĞƐ ϲϭ͕ϬϬϬ ϲϭ͕ϬϬϬ ϲϬ͕ϰϴϲ ;ϱϭϰͿ /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů Ͳ Ͳ ϭϬ͕ϯϬϯ ϭϬ͕ϯϬϯ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭϱ͕ϬϬϬ ϭϱ͕ϬϬϬ ;ϭϲϴͿ ;ϭϱ͕ϭϲϴͿ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϴϲϱ͕ϵϲϰ ϴϲϱ͕ϵϲϰ ϴϲϬ͕ϱϴϱ ;ϱ͕ϯϳϵͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϭϬϬ͕ϬϬϬ ϮϱϬ͕ϬϬϬ ϱϯ͕ϵϯϮ ϭϵϲ͕Ϭϲϴ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψϳϲϱ͕ϵϲϰ Ψϲϭϱ͕ϵϲϰ ΨϴϬϲ͕ϲϱϯ ΨϭϵϬ͕ϲϴϵ ƵĚŐĞƚŵŽƵŶƚƐ
457 CLICK HERE to Return to Agenda
ϭϬϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
>Ăǁ
ŶĨŽƌĐĞŵĞŶƚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϭ͕Ϯϭϱ͕ϭϮϭ Ψ ϭ͕Ϯϭϱ͕ϭϮϭ Ψ Ψ ϭ͕Ϯϭϱ͕ϭϮϭ Ψ Ͳ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϳ͕ϬϬϬ Ϯϰ͕ϲϬϬ ϭϬ͕ϰϴϲ ;ϭϰ͕ϭϭϰͿ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭϬ͕ϭϬϬ ϭϬ͕ϭϬϬ ;ϭϬ͕ϯϵϳͿ ;ϮϬ͕ϰϵϳͿ dƌĂŶƐĨĞƌ/Ŷ Ͳ ϯϯϮ͕ϬϬϬ ϯϯϮ͕ϬϬϬ Ͳ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϮϰϮ͕ϮϮϭ ϭ͕ϱϴϭ͕ϴϮϭ ϭ͕ϱϰϳ͕ϮϭϬ ;ϯϰ͕ϲϭϭͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐƐĂĨĞƚǇ ϭϳ͕ϬϬϬ Ϯϰ͕ϲϬϬ ϰϮ͕Ϯϲϯ ;ϭϳ͕ϲϲϯͿ
dƌĂŶƐĨĞƌƐŽƵƚ ϭ͕ϬϬϬ͕ϬϬϬ ϭ͕ϯϳϮ͕Ϯϵϲ ϭ͕Ϭϴϱ͕ϴϵϵ Ϯϴϲ͕ϯϵϳ dŽƚĂůŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕Ϭϭϳ͕ϬϬϬ ϭ͕ϯϵϲ͕ϴϵϲ ϭ͕ϭϮϴ͕ϭϲϮ Ϯϲϴ͕ϳϯϰ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϮϮϱ͕ϮϮϭ Ψ ϭϴϰ͕ϵϮϱ Ψ ϰϭϵ͕Ϭϰϴ Ψ Ϯϯϰ͕ϭϮϯ ƵĚŐĞƚŵŽƵŶƚƐ
458 CLICK HERE to Return to Agenda
ϭϬϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
DĞĂƐƵƌĞ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψϭ͕ϱϮϳ͕ϰϲϬ Ψϭ͕ϱϮϳ͕ϰϲϬ Ψϭ͕ϱϮϳ͕ϰϲϬ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
dĂǆĞƐ ϭ͕Ϯϵϵ͕ϬϬϬ ϭ͕ϰϵϵ͕ϬϬϬ ϭ͕ϵϭϳ͕ϰϰϲ ϰϭϴ͕ϰϰϲ hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϮϬ͕ϬϬϬ ϮϬ͕ϬϬϬ Ϯϯ͕Ϯϭϳ ϯ͕Ϯϭϳ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ Ϯ͕ϴϰϲ͕ϰϲϬ ϯ͕Ϭϰϲ͕ϰϲϬ ϯ͕ϰϲϴ͕ϭϮϯ ϰϮϭ͕ϲϲϯ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚ&ůŽǁƐͿ
WƵďůŝĐtŽƌŬƐ Ͳ Ͳ ϴ͕ϳϳϬ ;ϴ͕ϳϳϬͿ dƌĂŶƐĨĞƌƐŽƵƚ ϭ͕Ϯϲϯ͕ϵϬϬ Ϯ͕ϰϱϱ͕Ϭϴϰ ϮϲϬ͕Ϭϴϱ Ϯ͕ϭϵϰ͕ϵϵϵ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕Ϯϲϯ͕ϵϬϬ Ϯ͕ϰϱϱ͕Ϭϴϰ Ϯϲϴ͕ϴϱϱ Ϯ͕ϭϴϲ͕ϮϮϵ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϭ͕ϱϴϮ͕ϱϲϬ Ψ Ψϱϵϭ͕ϯϳϲ Ψϯ͕ϭϵϵ͕Ϯϲϴ ΨϮ͕ϲϬϳ͕ϴϵϮ ƵĚŐĞƚŵŽƵŶƚƐ
459 CLICK HERE to Return to Agenda
ϭϬϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ

ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψ ϰ͕Ϭϲϱ͕ϵϭϳ Ψ ϰ͕Ϭϲϱ͕ϵϭϳ Ψ ϰ͕Ϭϲϱ͕ϵϭϳ Ψ Ͳ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϰϬ͕ϬϬϬ ϰϬ͕ϬϬϬ ;Ϯϭ͕ϴϳϲͿ ;ϲϭ͕ϴϳϲͿ dƌĂŶƐĨĞƌŝŶ Ͳ ϲϬϵ͕ϭϬϬ ϱϬϬ͕ϬϬϬ ;ϭϬϵ͕ϭϬϬͿ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϰ͕ϭϬϱ͕ϵϭϳ ϰ͕ϳϭϱ͕Ϭϭϳ ϰ͕ϱϰϰ͕Ϭϰϭ ;ϭϳϬ͕ϵϳϲͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϭϬ͕ϬϬϬ ϭ͕ϲϯϬ͕ϱϬϬ ϭ͕ϰϵϰ͕ϯϳϰ ϭϯϲ͕ϭϮϲ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϰ͕Ϭϵϱ͕ϵϭϳ Ψ Ψ ϯ͕Ϭϴϰ͕ϱϭϳ Ψ ϯ͕Ϭϰϵ͕ϲϲϳ Ψ ;ϯϰ͕ϴϱϬͿ ƵĚŐĞƚŵŽƵŶƚƐ
460 CLICK HERE to Return to Agenda
ϭϬϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹ^ƉĞĐŝĂůZĞǀĞŶƵĞ&ƵŶĚ
ϭϯϳϵ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψ ϯϳ͕Ϭϲϱ Ψ ϯϳ͕Ϭϲϱ Ψ ϯϳ͕Ϭϲϱ Ψ Ͳ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϴ͕ϬϬϬ ϭϴ͕ϬϬϬ ϭϳ͕ϭϭϮ ;ϴϴϴͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϮϬϬ ϮϬϬ ϮϮϳ Ϯϳ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϱϱ͕Ϯϲϱ ϱϱ͕Ϯϲϱ ϱϰ͕ϰϬϰ ;ϴϲϭͿ
ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϰ͕ϰϬϬ ϰ͕ϰϬϬ ϯ͕ϯϭϬ ϭ͕ϬϵϬ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψ ϱϬ͕ϴϲϱ Ψ ϱϬ͕ϴϲϱ Ψ ϱϭ͕Ϭϵϰ Ψ ϮϮϵ ƵĚŐĞƚŵŽƵŶƚƐ
461 CLICK HERE to Return to Agenda
ϭϬϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ;ϯ͕ϲϲϰ͕ϳϴϱͿ Ψ Ψ;ϯ͕ϲϲϰ͕ϳϴϱͿ Ψ;ϯ͕ϲϲϰ͕ϳϴϱͿ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
/ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ϭϮ͕ϱϯϱ͕ϱϬϬ ϯϴ͕ϯϮϰ͕ϯϭϱ ϭϭ͕ϵϵϭ͕Ϯϯϰ ;Ϯϲ͕ϯϯϯ͕ϬϴϭͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϭ͕ϬϳϮ͕ϲϴϭ Ͳ ϭϳϭ͕ϭϯϰ ;ϵϬϭ͕ϱϰϳͿ dƌĂŶƐĨĞƌƐŝŶ ϲ͕ϱϮϮ͕ϴϬϬ ϯϱ͕ϰϱϯ͕ϵϱϲ ϴ͕ϵϳϲ͕Ϯϲϳ ;Ϯϲ͕ϰϳϳ͕ϲϴϵͿ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϱ͕ϯϵϯ͕ϱϭϱ ϳϭ͕ϭϴϲ͕ϭϲϳ ϭϳ͕ϰϳϯ͕ϴϱϬ ;ϱϯ͕ϳϭϮ͕ϯϭϳͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WůĂŶŶŝŶŐĂŶĚĚĞǀĞůŽƉŵĞŶƚ ϭ͕ϱϬϱ͕ϬϬϬ Ϯ͕ϳϭϵ͕ϯϴϬ ϭ͕Ϭϴϲ͕ϭϲϵ ϭ͕ϲϯϯ͕Ϯϭϭ ĂƉŝƚĂůŽƵƚůĂǇ ϭϳ͕ϱϱϯ͕ϯϬϬ ϲϴ͕ϵϭϵ͕ϯϲϲ ϭϳ͕ϳϲϰ͕ϴϰϱ ϱϭ͕ϭϱϰ͕ϱϮϭ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϵ͕Ϭϱϴ͕ϯϬϬ ϳϭ͕ϲϯϴ͕ϳϰϲ ϭϴ͕ϴϱϭ͕Ϭϭϰ ϱϮ͕ϳϴϳ͕ϳϯϮ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ;ϯ͕ϲϲϰ͕ϳϴϱͿ Ψ Ψ;ϰϱϮ͕ϱϳϵͿ Ψ;ϭ͕ϯϳϳ͕ϭϲϰͿ Ψ;ϵϮϰ͕ϱϴϱͿ ƵĚŐĞƚŵŽƵŶƚƐ
462 CLICK HERE to Return to Agenda
ϭϭϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
/ŶĨƌĂƐƚƌƵĐƚƵƌĞ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ψϭϵ͕ϰϬϴ Ψϭϵ͕ϰϬϴ Ψϭϵ͕ϰϬϴ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϮϬϬ ϮϬϬ ;ϵͿ ;ϮϬϵͿ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϵ͕ϲϬϴ ϭϵ͕ϲϬϴ ϭϵ͕ϯϵϵ ;ϮϬϵͿ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ϮϮ͕ϲϭϴ Ͳ ϮϮ͕ϲϭϴ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ Ψϭϵ͕ϲϬϴ Ψ;ϯ͕ϬϭϬͿ Ψϭϵ͕ϯϵϵ ΨϮϮ͕ϰϬϵ ƵĚŐĞƚŵŽƵŶƚƐ
463 CLICK HERE to Return to Agenda
ϭϭϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
ŝǀŝĐĞŶƚĞƌ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϯϬϭ͕Ϯϳϭ Ψ ϯϬϭ͕Ϯϳϭ Ψ ϯϬϭ͕Ϯϳϭ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ Ͳ Ϯ͕ϬϬϬ Ϯ͕ϴϮϴ ϴϮϴ
ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϭϭϬ͕ϬϬϬ ϭϭϬ͕ϬϬϬ ϭϵϰ͕ϱϮϭ ϴϰ͕ϱϮϭ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϰϭϭ͕Ϯϳϭ ϰϭϯ͕Ϯϳϭ ϰϵϴ͕ϲϮϬ ϴϱ͕ϯϰϵ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϰϭϭ͕Ϯϳϭ Ψ Ψ ϰϭϯ͕Ϯϳϭ Ψ ϰϵϴ͕ϲϮϬ Ψ ϴϱ͕ϯϰϵ ƵĚŐĞƚŵŽƵŶƚƐ
464 CLICK HERE to Return to Agenda
ϭϭϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
dƌĂŶƐƉŽƌƚĂƚŝŽŶ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ΨϮ͕ϯϮϭ͕ϱϬϮ ΨϮ͕ϯϮϭ͕ϱϬϮ ΨϮ͕ϯϮϭ͕ϱϬϮ ΨͲ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϯϬ͕ϬϬϬ ϯϬ͕ϬϬϬ ;ϱ͕ϱϰϯͿ ;ϯϱ͕ϱϰϯͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϯϱϬ͕ϬϬϬ ϯϱϬ͕ϬϬϬ ϲϵϯ͕ϱϴϲ ϯϰϯ͕ϱϴϲ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ Ϯ͕ϳϬϭ͕ϱϬϮ Ϯ͕ϳϬϭ͕ϱϬϮ ϯ͕ϬϬϵ͕ϱϰϱ ϯϬϴ͕Ϭϰϯ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
WƵďůŝĐǁŽƌŬƐ ϰϬϬ͕ϬϬϬ ϰϬϬ͕ϬϬϬ ϰϬϬ͕ϬϬϭ ϭ dƌĂŶƐĨĞƌƐŽƵƚ ϴϵϯ͕ϬϬϬ ϭ͕ϱϱϳ͕ϲϳϬ ϯϰϯ͕Ϭϱϱ ϭ͕Ϯϭϰ͕ϲϭϱ dŽƚĂůĐŚĂƌŐĞƐƚŽ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕Ϯϵϯ͕ϬϬϬ ϭ͕ϵϱϳ͕ϲϳϬ ϳϰϯ͕Ϭϱϲ ϭ͕Ϯϭϰ͕ϲϭϲ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϭ͕ϰϬϴ͕ϱϬϮ Ψ Ψϳϰϯ͕ϴϯϮ ΨϮ͕Ϯϲϲ͕ϰϴϵ Ψϭ͕ϱϮϮ͕ϲϱϵ ƵĚŐĞƚŵŽƵŶƚƐ
465 CLICK HERE to Return to Agenda
ϭϭϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ϯϵϰ͕ϬϮϳ Ψ Ϯϵϰ͕ϬϮϳ Ψ Ϯϵϰ͕ϬϮϳ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϰ͕ϬϬϬ ϰ͕ϬϬϬ ;ϱ͕ϵϯϵͿ ;ϵ͕ϵϯϵͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϯϬϬ͕ϬϬϬ ϯϬϬ͕ϬϬϬ ϯϮϴ͕ϬϳϮ Ϯϴ͕ϬϳϮ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϱϵϴ͕ϬϮϳ ϱϵϴ͕ϬϮϳ ϲϭϲ͕ϭϲϬ ϭϴ͕ϭϯϯ
ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ϵϱϵ͕ϳϭϯ ϵϲϮ͕ϰϲϵ ;Ϯ͕ϳϱϲͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϱϵϴ͕ϬϮϳ Ψ Ψ ;ϯϲϭ͕ϲϴϲͿ Ψ ;ϯϰϲ͕ϯϬϵͿ Ψ ϭϱ͕ϯϳϳ ƵĚŐĞƚŵŽƵŶƚƐ
466 CLICK HERE to Return to Agenda
ϭϭϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
>ŝďƌĂƌǇĞǀĞůŽƉŵĞŶƚ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ;ϭ͕ϱϬϱ͕ϭϴϳͿ Ψ ;ϭ͕ϱϬϱ͕ϭϴϳͿ Ψ ;ϭ͕ϱϬϱ͕ϭϴϳͿ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϰϱ͕ϬϬϬ ϰϱ͕ϬϬϬ ϲϭ͕ϱϯϭ ϭϲ͕ϱϯϭ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ;ϭ͕ϰϲϬ͕ϭϴϳͿ ;ϭ͕ϰϲϬ͕ϭϴϳͿ ;ϭ͕ϰϰϯ͕ϲϱϲͿ ϭϲ͕ϱϯϭ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
ĞďƚƐĞƌǀŝĐĞ
/ŶƚĞƌĞƐƚĂŶĚĨŝƐĐĂůĐŚĂƌŐĞƐ ϯϬ͕ϬϬϬ ϯϬ͕ϬϬϬ ϭϱ͕ϭϯϯ ϭϰ͕ϴϲϳ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ;ϭ͕ϰϵϬ͕ϭϴϳͿ Ψ ;ϭ͕ϰϵϬ͕ϭϴϳͿ Ψ ;ϭ͕ϰϱϴ͕ϳϴϵͿ Ψ ϯϭ͕ϯϵϴ Ψ ƵĚŐĞƚŵŽƵŶƚƐ
467 CLICK HERE to Return to Agenda
ϭϭϱ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
ŽŵŵƵŶŝƚǇĞŶƚĞƌ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϭϵϮ͕ϳϱϯ Ψ ϭϵϮ͕ϳϱϯ Ψ ϭϵϮ͕ϳϱϯ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭ͕ϱϬϬ ϭ͕ϱϬϬ ϳϱϮ ;ϳϰϴͿ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϭϱ͕ϬϬϬ ϳϱ͕ϬϬϬ ϭϰϮ͕ϱϮϬ ϲϳ͕ϱϮϬ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϮϬϵ͕Ϯϱϯ Ϯϲϵ͕Ϯϱϯ ϯϯϲ͕ϬϮϱ ϲϲ͕ϳϳϮ
ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ϭϬϭ͕ϲϯϵ ϭϬϭ͕ϲϯϵ Ͳ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϮϬϵ͕Ϯϱϯ Ψ Ψ ϭϲϳ͕ϲϭϰ Ψ Ϯϯϰ͕ϯϴϲ Ψ ϲϲ͕ϳϳϮ ƵĚŐĞƚŵŽƵŶƚƐ
468 CLICK HERE to Return to Agenda
ϭϭϲ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
^ƚƌĞĞƚ&ĂĐŝůŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϯϵ͕ϭϯϬ Ψ ϯϵ͕ϭϯϬ Ψ ϯϵ͕ϭϯϬ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ Ͳ Ͳ ϲϮ ϲϮ ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϭϳ͕ϬϬϬ Ϯ͕ϬϬϬ ϰ͕Ϭϵϱ Ϯ͕Ϭϵϱ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϱϲ͕ϭϯϬ ϰϭ͕ϭϯϬ ϰϯ͕Ϯϴϳ Ϯ͕ϭϱϳ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϱϲ͕ϭϯϬ Ψ ϰϭ͕ϭϯϬ Ψ ϰϯ͕Ϯϴϳ Ψ Ϯ͕ϭϱϳ Ψ ƵĚŐĞƚŵŽƵŶƚƐ
469 CLICK HERE to Return to Agenda
ϭϭϳ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
WĂƌŬ&ĂĐŝůŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϱ͕ϳϮϯ Ψ ϱ͕ϳϮϯ Ψ ϱ͕ϳϮϯ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭϬϬ ϭϬϬ ;ϰϳͿ ;ϭϰϳͿ
ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϳ͕ϬϬϬ ϰϬϬ ϯϮϬ ;ϴϬͿ
ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϮ͕ϴϮϯ ϲ͕ϮϮϯ ϱ͕ϵϵϲ ;ϮϮϳͿ
ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ϱ͕ϲϬϬ Ͳ ϱ͕ϲϬϬ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϭϮ͕ϴϮϯ Ψ Ψ ϲϮϯ Ψ ϱ͕ϵϵϲ Ψ ϱ͕ϯϳϯ ƵĚŐĞƚŵŽƵŶƚƐ
470 CLICK HERE to Return to Agenda
ϭϭϴ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĂƉŝƚĂůWƌŽũĞĐƚƐ&ƵŶĚ
&ŝƌĞ&ĂĐŝůŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ ϭϯϲ͕Ϭϯϲ Ψ ϭϯϲ͕Ϭϯϲ Ψ ϭϯϲ͕Ϭϯϲ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϱϬϬ ϱϬϬ ϴϲϳ ϯϲϳ
ĞǀĞůŽƉĞƌƉĂƌƚŝĐŝƉĂƚŝŽŶ ϱϱ͕ϬϬϬ ϱϱ͕ϬϬϬ ϲϬ͕ϯϱϳ ϱ͕ϯϱϳ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭϵϭ͕ϱϯϲ ϭϵϭ͕ϱϯϲ ϭϵϳ͕ϮϲϬ ϱ͕ϳϮϰ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ϭϵϭ͕ϱϯϲ Ψ Ψ ϭϵϭ͕ϱϯϲ Ψ ϭϵϳ͕ϮϲϬ Ψ ϱ͕ϳϮϰ ƵĚŐĞƚŵŽƵŶƚƐ
471 CLICK HERE to Return to Agenda
ϭϭϵ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ƵĚŐĞƚĂƌǇŽŵƉĂƌŝƐŽŶ^ĐŚĞĚƵůĞʹĞďƚ^ĞƌǀŝĐĞ&ƵŶĚ
&ŝŶĂŶĐŝŶŐƵƚŚŽƌŝƚǇ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
sĂƌŝĂŶĐĞǁŝƚŚ
&ŝŶĂůƵĚŐĞƚ
ĐƚƵĂů WŽƐŝƚŝǀĞ
KƌŝŐŝŶĂů &ŝŶĂů ŵŽƵŶƚƐ ;EĞŐĂƚŝǀĞͿ
ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵůǇϭ Ͳ Ψ Ͳ Ψ Ͳ Ψ Ͳ Ψ ZĞƐŽƵƌĐĞƐ;/ŶĨůŽǁƐͿ
hƐĞŽĨŵŽŶĞǇĂŶĚƉƌŽƉĞƌƚǇ ϭ͕ϬϬϬ ϭ͕ϬϬϬ ϭ͕ϭϬϬ ϭϬϬ ŵŽƵŶƚƐĂǀĂŝůĂďůĞĨŽƌ
ĂƉƉƌŽƉƌŝĂƚŝŽŶƐ ϭ͕ϬϬϬ ϭ͕ϬϬϬ ϭ͕ϭϬϬ ϭϬϬ ŚĂƌŐĞƐƚŽƉƉƌŽƉƌŝĂƚŝŽŶ;KƵƚĨůŽǁƐͿ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ ϭ͕ϭϬϬ ϭ͕ϭϬϬ ϭ͕ϭϬϬ Ͳ ƵĚŐĞƚĂƌǇ&ƵŶĚĂůĂŶĐĞ͕:ƵŶĞϯϬ ;ϭϬϬͿ Ψ ;ϭϬϬͿ Ψ Ͳ Ψ ϭϬϬ Ψ ƵĚŐĞƚŵŽƵŶƚƐ
472 CLICK HERE to Return to Agenda
ϭϮϬ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
/ŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌĂĐƚŝǀŝƚŝĞƐŝŶǀŽůǀĞĚŝŶƌĞŶĚĞƌŝŶŐƐĞƌǀŝĐĞƐƚŽĚĞƉĂƌƚŵĞŶƚƐǁŝƚŚŝŶƚŚĞ ŝƚǇ͘ŽƐƚƐŽĨŵĂƚĞƌŝĂůƐĂŶĚƐĞƌǀŝĐĞƐƵƐĞĚĂƌĞĂĐĐƵŵƵůĂƚĞĚŝŶƚŚŝƐĨƵŶĚĂŶĚĐŚĂƌŐĞĚƚŽƚŚĞƵƐĞƌĚĞƉĂƌƚŵĞŶƚƐĂƐ ƐƵĐŚŐŽŽĚĂƌĞĚĞůŝǀĞƌĞĚŽƌƐĞƌǀŝĐĞƐƌĞŶĚĞƌĞĚ͘
dŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂŚĂƐƚŚĞĨŽůůŽǁŝŶŐ/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ͗

ƋƵŝƉŵĞŶƚZĞƉůĂĐĞŵĞŶƚ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞŽƉĞƌĂƚŝŽŶĂůŵĂŝŶƚĞŶĂŶĐĞĂŶĚƵůƚŝŵĂƚĞƌĞƉůĂĐĞŵĞŶƚŽĨŝƚǇ ŽǁŶĞĚĂŶĚŽƉĞƌĂƚĞĚǀĞŚŝĐůĞƐĂŶĚĞƋƵŝƉŵĞŶƚ͘
/ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐǇ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞƉƵƌĐŚĂƐĞĂŶĚƌĞƉůĂĐĞŵĞŶƚŽĨŝŶĨŽƌŵĂƚŝŽŶƐǇƐƚĞŵƐ͘ WĂƌŬ
ƋƵŝƉŵĞŶƚĂŶĚ&ĂĐŝůŝƚŝĞƐ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞƉƵƌĐŚĂƐĞĂŶĚƌĞƉůĂĐĞŵĞŶƚŽĨŝƚǇŽǁŶĞĚĂŶĚŽƉĞƌĂƚĞĚ ƉĂƌŬĞƋƵŝƉŵĞŶƚĂŶĚĨĂĐŝůŝƚŝĞƐ͘
/ŶƐƵƌĂŶĐĞ&ƵŶĚʹdŽĂĐĐŽƵŶƚĨŽƌƚŚĞŝƚǇ͛ƐŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞ͘ 473 CLICK HERE to Return to Agenda
ϭϮϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶ
/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
:ƵŶĞϯϬ͕ϮϬϮϭ
WĂƌŬ

ƋƵŝƉŵĞŶƚ /ŶĨŽƌŵĂƚŝŽŶ
ƋƵŝƉŵĞŶƚ
ZĞƉůĂĐĞŵĞŶƚ dĞĐŚŶŽůŽŐǇ ĂŶĚ&ĂĐŝůŝƚŝĞƐ /ŶƐƵƌĂŶĐĞ dŽƚĂůƐ
ƐƐĞƚƐ
ƵƌƌĞŶƚ
WŽŽůĞĚĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϯ͕ϲϯϴ͕ϲϬϳ Ψ ϭ͕ϴϯϱ͕ϬϬϱ Ψ ϯ͕ϲϴϭ͕ϯϱϮ Ψ ϯϲϮ͕ϰϵϴ Ψ ϵ͕ϱϭϳ͕ϰϲϮ Ψ ZĞĐĞŝǀĂďůĞƐ
ĐĐŽƵŶƚƐ Ͳ Ͳ Ͳ ϲ͕Ϭϵϲ ϲ͕Ϭϵϲ
ĐĐƌƵĞĚŝŶƚĞƌĞƐƚ ϭ͕ϰϱϳ ϳϯϱ ϭ͕ϰϳϰ ϭϰϯ ϯ͕ϴϬϵ WƌĞƉĂŝĚĐŽƐƚƐ Ͳ ϭϭϯ͕ϲϵϭ Ͳ ϭϬϴ͕ϮϯϮ ϮϮϭ͕ϵϮϯ
dŽƚĂůĐƵƌƌĞŶƚĂƐƐĞƚƐ ϯ͕ϲϰϬ͕Ϭϲϰ ϭ͕ϵϰϵ͕ϰϯϭ ϯ͕ϲϴϮ͕ϴϮϲ ϰϳϲ͕ϵϲϵ ϵ͕ϳϰϵ͕ϮϵϬ EŽŶĐƵƌƌĞŶƚ
ĂƉŝƚĂůĂƐƐĞƚƐͲŶĞƚŽĨĂĐĐƵŵƵůĂƚĞĚ
ĚĞƉƌĞĐŝĂƚŝŽŶ ϭ͕ϭϯϲ͕ϰϱϮ ϯϰϲ͕ϭϬϵ ϭϮ͕ϭϬϳ͕ϵϱϮ ϭϯ͕ϱϵϬ͕ϱϭϯ Ͳ dŽƚĂůĂƐƐĞƚƐ ϰ͕ϳϳϲ͕ϱϭϲ Ϯ͕Ϯϵϱ͕ϱϰϬ ϭϱ͕ϳϵϬ͕ϳϳϴ ϰϳϲ͕ϵϲϵ Ϯϯ͕ϯϯϵ͕ϴϬϯ >ŝĂďŝůŝƚŝĞƐ
ƵƌƌĞŶƚ
ĐĐŽƵŶƚƐƉĂǇĂďůĞ ϲϬ͕Ϯϲϱ ϯϭ͕ϳϴϬ Ϯ͕ϯϭϱ ϭϴϮ ϵϰ͕ϱϰϮ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ ϭ͕Ϯϯϯ Ͳ Ͳ ;ϭͿ ϭ͕ϮϯϮ
ƵƌƌĞŶƚƉŽƌƚŝŽŶŽĨĐĂƉŝƚĂůůĞĂƐĞƐ ϭϵϯ͕ϱϬϴ Ͳ ϯϯ͕ϲϬϭ ϮϮϳ͕ϭϬϵ Ͳ dŽƚĂůĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ Ϯϱϯ͕ϳϳϯ ϲϲ͕ϲϭϰ Ϯ͕ϯϭϱ ϭϴϭ ϯϮϮ͕ϴϴϯ EŽŶĐƵƌƌĞŶƚ
>ŽŶŐͲƚĞƌŵƉŽƌƚŝŽŶŽĨĐĂƉŝƚĂůůĞĂƐĞƐ ϭϰϬ͕ϱϯϴ ϱϬ͕ϰϬϯ Ͳ ϭϵϬ͕ϵϰϭ Ͳ dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϯϵϰ͕ϯϭϭ ϭϭϳ͕Ϭϭϳ Ϯ͕ϯϭϱ ϭϴϭ ϱϭϯ͕ϴϮϰ EĞƚWŽƐŝƚŝŽŶ
EĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐĂƉŝƚĂůĂƐƐĞƚƐ ϴϬϮ͕ϰϬϲ ϮϲϮ͕ϭϬϱ ϭϮ͕ϭϬϳ͕ϵϱϮ ϭϯ͕ϭϳϮ͕ϰϲϯ Ͳ hŶƌĞƐƚƌŝĐƚĞĚ ϯ͕ϱϳϵ͕ϳϵϵ ϭ͕ϵϭϲ͕ϰϭϴ ϯ͕ϲϴϬ͕ϱϭϭ ϰϳϲ͕ϳϴϴ ϵ͕ϲϱϯ͕ϱϭϲ dŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ Ψϰ͕ϯϴϮ͕ϮϬϱ ΨϮ͕ϭϳϴ͕ϱϮϯ Ψϭϱ͕ϳϴϴ͕ϰϲϯ Ψ ϰϳϲ͕ϳϴϴ ΨϮϮ͕ϴϮϱ͕ϵϳϵ 'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐͲ/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
474 CLICK HERE to Return to Agenda
ϭϮϮ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨZĞǀĞŶƵĞƐ͕
ǆƉĞŶƐĞƐĂŶĚŚĂŶŐĞƐŝŶ&ƵŶĚEĞƚWŽƐŝƚŝŽŶ
/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
WĂƌŬ

ƋƵŝƉŵĞŶƚ /ŶĨŽƌŵĂƚŝŽŶ
ƋƵŝƉŵĞŶƚĂŶĚ
ZĞƉůĂĐĞŵĞŶƚ dĞĐŚŶŽůŽŐǇ &ĂĐŝůŝƚŝĞƐ /ŶƐƵƌĂŶĐĞ dŽƚĂůƐ
KƉĞƌĂƚŝŶŐZĞǀĞŶƵĞƐ
^ĂůĞƐĂŶĚƐĞƌǀŝĐĞĐŚĂƌŐĞƐ ϴϳϭ͕ϱϬϬ Ψ ϭ͕ϳϭϲ͕ϯϬϵ Ψ ϮϬϬ͕ϬϬϬ Ψ ϵϮϳ͕ϱϬϬ Ψ ϯ͕ϳϭϱ͕ϯϬϵ Ψ KƉĞƌĂƚŝŶŐ
ǆƉĞŶƐĞƐ
ĚŵŝŶŝƐƚƌĂƚŝŽŶĂŶĚŐĞŶĞƌĂů Ϯϳ͕ϰϳϲ ϰϯ͕ϲϯϭ Ͳ ϭϲϱ͕ϰϭϲ Ϯϯϲ͕ϱϮϯ &ƵĞůĂŶĚŽŝů ϴϬ͕ϳϯϰ Ͳ Ͳ Ͳ ϴϬ͕ϳϯϰ
DĂŝŶƚĞŶĂŶĐĞĂŶĚƉĂƌƚƐ ϭϭϲ͕ϳϮϴ Ͳ Ͳ ϭϭϲ͕ϳϮϴ Ͳ
ŽŶƚƌĂĐƚƐĞƌǀŝĐĞƐ ϰϰϯ͕ϯϴϭ Ͳ ϱϭ͕ϳϵϭ ϰϵϱ͕ϭϳϮ Ͳ
^ŽĨƚǁĂƌĞĂŶĚƐƵƉƉůŝĞƐ ϰϳϬ͕ϵϬϴ Ͳ Ͳ ϲϵϵ͕ϱϵϰ ϭ͕ϭϳϬ͕ϱϬϮ ĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞ ϯϭϯ͕Ϯϭϳ ϭϮϴ͕ϲϲϳ ϱϭϵ͕ϯϱϬ ϵϲϭ͕Ϯϯϰ Ͳ dŽƚĂůŽƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐ ϱϯϴ͕ϭϱϱ ϭ͕Ϭϴϲ͕ϱϴϳ ϱϳϭ͕ϭϰϭ ϴϲϱ͕ϬϭϬ ϯ͕ϬϲϬ͕ϴϵϯ KƉĞƌĂƚŝŶŐ/ŶĐŽŵĞ;>ŽƐƐͿ ϯϯϯ͕ϯϰϱ ϲϮϵ͕ϳϮϮ ;ϯϳϭ͕ϭϰϭͿ ϲϮ͕ϰϵϬ ϲϱϰ͕ϰϭϲ EŽŶŽƉĞƌĂƚŝŶŐZĞǀĞŶƵĞ;
ǆƉĞŶƐĞƐͿ
/ŶƚĞƌĞƐƚƌĞǀĞŶƵĞ Ϯ͕ϳϭϲ ϴ͕ϱϱϴ ;ϭ͕ϳϲϮͿ ϰ͕ϵϵϭ ϭϰ͕ϱϬϯ DŝƐĐĞůůĂŶĞŽƵƐƌĞǀĞŶƵĞ Ͳ ϭϬ͕ϭϮϵ Ͳ ϰ͕ϬϬϬ ϭϰ͕ϭϮϵ /ŶƚĞƌĞƐƚĞǆƉĞŶƐĞ ;Ϯϲ͕ϵϰϴͿ Ͳ Ͳ ;Ϯϲ͕ϵϰϴͿ Ͳ
'ĂŝŶŽŶĚŝƐƉŽƐĂůŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ Ϯϭ͕Ϯϲϴ Ϯϱ͕ϴϮϱ Ͳ Ͳ ϰϳ͕Ϭϵϯ dŽƚĂůŶŽŶŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐ ;Ϯ͕ϵϲϰͿ ϯϰ͕ϯϴϯ ϴ͕ϯϲϳ ϴ͕ϵϵϭ ϰϴ͕ϳϳϳ /ŶĐŽŵĞ;>ŽƐƐͿĞĨŽƌĞdƌĂŶƐĨĞƌƐ ϯϯϬ͕ϯϴϭ ϲϲϰ͕ϭϬϱ ;ϯϲϮ͕ϳϳϰͿ ϳϭ͕ϰϴϭ ϳϬϯ͕ϭϵϯ dƌĂŶƐĨĞƌƐŝŶ Ͳ Ͳ Ͳ Ͳ Ͳ
dƌĂŶƐĨĞƌƐŽƵƚ Ͳ ;ϴϳ͕ϵϴϲͿ Ͳ ;ϴϳ͕ϵϴϲͿ Ͳ
ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ ϯϯϬ͕ϯϴϭ ϲϲϰ͕ϭϬϱ ;ϰϱϬ͕ϳϲϬͿ ϳϭ͕ϰϴϭ ϲϭϱ͕ϮϬϳ EĞƚWŽƐŝƚŝŽŶ
ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϰ͕Ϭϱϭ͕ϴϮϰ ϭ͕ϱϭϰ͕ϰϭϴ ϭϲ͕Ϯϯϵ͕ϮϮϯ ϰϬϱ͕ϯϬϳ ϮϮ͕ϮϭϬ͕ϳϳϮ

ŶĚŽĨzĞĂƌ Ψϰ͕ϯϴϮ͕ϮϬϱ ΨϮ͕ϭϳϴ͕ϱϮϯ Ψϭϱ͕ϳϴϴ͕ϰϲϯ Ψ ϰϳϲ͕ϳϴϴ ΨϮϮ͕ϴϮϱ͕ϵϳϵ 'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐͲ/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
475 CLICK HERE to Return to Agenda
ϭϮϯ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
ŽŵďŝŶŝŶŐ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐ
/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
WĂƌŬ

ƋƵŝƉŵĞŶƚ /ŶĨŽƌŵĂƚŝŽŶ
ƋƵŝƉŵĞŶƚ
ZĞƉůĂĐĞŵĞŶƚ dĞĐŚŶŽůŽŐǇ ĂŶĚ&ĂĐŝůŝƚŝĞƐ /ŶƐƵƌĂŶĐĞ dŽƚĂůƐ
KƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ
ĂƐŚƌĞĐĞŝǀĞĚĨƌŽŵŝŶƚĞƌĨƵŶĚƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚ ϴϳϭ͕ϱϬϬ Ψ Ψ ϭ͕ϳϭϲ͕ϯϬϵ Ψ ϮϬϬ͕ϬϬϬ Ψ ϵϮϭ͕ϰϬϱ Ψ ϯ͕ϳϬϵ͕Ϯϭϰ ĂƐŚƉĂŝĚƚŽƐƵƉƉůŝĞƌƐĨŽƌŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ ;ϯϬϳ͕ϴϰϬͿ ;ϭ͕ϬϬϳ͕ϬϬϯͿ ;ϴϬ͕ϵϵϰͿ ;ϱϴϴ͕ϴϳϯͿ ;ϭ͕ϵϴϰ͕ϳϭϬͿ ĂƐŚƉĂŝĚƚŽĞŵƉůŽǇĞĞƐĨŽƌƐĞƌǀŝĐĞƐ Ͳ Ͳ Ͳ ;ϭͿ ;ϭͿ EĞƚĂƐŚĨƌŽŵKƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ ϱϲϯ͕ϲϲϬ ϳϬϵ͕ϯϬϲ ϭϭϵ͕ϬϬϲ ϯϯϮ͕ϱϯϭ ϭ͕ϳϮϰ͕ϱϬϯ EŽŶͲĂƉŝƚĂů&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ
ĂƐŚƚƌĂŶƐĨĞƌƐŽƵƚ Ͳ Ͳ ;ϴϳ͕ϵϴϲͿ Ͳ ;ϴϳ͕ϵϴϲͿ EĞƚĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿEŽŶͲĂƉŝƚĂů
&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ Ͳ Ͳ ;ϴϳ͕ϵϴϲͿ Ͳ ;ϴϳ͕ϵϴϲͿ ĂƉŝƚĂůĂŶĚZĞůĂƚĞĚ&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ
ĂƉŝƚĂůĐŽŶƚƌŝďƵƚŝŽŶƐ Ͳ Ͳ ϭϬ͕ϭϯϬ Ͳ ϭϬ͕ϭϯϬ ĐƋƵŝƐŝƚŝŽŶĂŶĚĐŽŶƐƚƌƵĐƚŝŽŶŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ ;Ϯϴ͕ϭϲϭͿ ;ϭϮϬ͕ϵϵϰͿ ;ϭϮ͕ϭϮϲͿ Ͳ ;ϭϲϭ͕ϮϴϭͿ /ŶƚĞƌĞƐƚƉĂŝĚŽŶĐĂƉŝƚĂůĚĞďƚ ;Ϯϲ͕ϵϰϰͿ Ͳ Ͳ Ͳ ;Ϯϲ͕ϵϰϰͿ ĂƉŝƚĂůůĞĂƐĞ ;Ϯϰϰ͕ϮϬϬͿ ;ϯϯ͕ϲϬϭͿ Ͳ Ͳ ;Ϯϳϳ͕ϴϬϭͿ WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞƐŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ Ϯϭ͕Ϯϲϴ Ϯϱ͕ϴϮϱ Ͳ Ͳ ϰϳ͕Ϭϵϯ EĞƚĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿĂƉŝƚĂůĂŶĚ
ZĞůĂƚĞĚ&ŝŶĂŶĐŝŶŐĐƚŝǀŝƚŝĞƐ ;Ϯϳϴ͕ϬϯϳͿ ;ϭϮϴ͕ϳϳϬͿ ;ϭ͕ϵϵϲͿ Ͳ ;ϰϬϴ͕ϴϬϯͿ /ŶǀĞƐƚŝŶŐĐƚŝǀŝƚŝĞƐ
/ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚ ϲ͕ϱϳϬ ϵ͕ϳϵϴ Ϯ͕ϱϱϰ ϴ͕ϴϴϭ Ϯϳ͕ϴϬϯ EĞƚŚĂŶŐĞŝŶĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐ ϮϵϮ͕ϭϵϯ ϱϵϬ͕ϯϯϰ Ͳ ϯϭ͕ϱϳϴ ϯϰϭ͕ϰϭϮ Ͳ ϭ͕Ϯϱϱ͕ϱϭϳ ĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐ͕ĞŐŝŶŶŝŶŐŽĨzĞĂƌ ϯ͕ϯϰϲ͕ϰϭϰ ϭ͕Ϯϰϰ͕ϲϳϭ ϯ͕ϲϰϵ͕ϳϳϰ Ϯϭ͕Ϭϴϲ ϴ͕Ϯϲϭ͕ϵϰϱ ĂƐŚĂŶĚĂƐŚ
ƋƵŝǀĂůĞŶƚƐ͕
ŶĚŽĨzĞĂƌ Ψ ϯ͕ϲϯϴ͕ϲϬϳ Ψ ϭ͕ϴϯϱ͕ϬϬϱ Ψ ϯ͕ϲϴϭ͕ϯϱϮ Ψ ϯϲϮ͕ϰϵϴ Ψ ϵ͕ϱϭϳ͕ϰϲϮ Ͳ Ͳ ͲͲ ͲͲ
ZĞĐŽŶĐŝůŝĂƚŝŽŶŽĨŽƉĞƌĂƚŝŶŐŝŶĐŽŵĞƚŽŶĞƚĐĂƐŚ
ĨƌŽŵ;ƵƐĞĚĨŽƌͿŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
KƉĞƌĂƚŝŶŐŝŶĐŽŵĞ;ůŽƐƐͿ Ψ ϯϯϯ͕ϯϰϱ Ψ ϲϮϵ͕ϳϮϮ Ψ ;ϯϳϭ͕ϭϰϭͿ Ψ ϲϮ͕ϰϵϬ Ψ ϲϱϰ͕ϰϭϲ ĚũƵƐƚŵĞŶƚƐƚŽƌĞĐŽŶĐŝůĞŽƉĞƌĂƚŝŶŐŝŶĐŽŵĞ;ůŽƐƐͿƚŽ
ŶĞƚĐĂƐŚĨƌŽŵ;ƵƐĞĚĨŽƌͿŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ
ĞƉƌĞĐŝĂƚŝŽŶ ϯϭϯ͕Ϯϭϳ ϭϮϴ͕ϲϲϳ ϱϭϵ͕ϯϱϬ Ͳ ϵϲϭ͕Ϯϯϰ
ŚĂŶŐĞƐŝŶ
WƌĞƉĂŝĚĐŽƐƚƐ Ͳ ;ϯϴ͕ϳϳϴͿ Ͳ Ϯϳϱ͕ϵϱϲ Ϯϯϳ͕ϭϳϴ
ĐĐŽƵŶƚƐƌĞĐĞŝǀĂďůĞ Ͳ Ͳ Ͳ ;ϲ͕ϬϵϲͿ ;ϲ͕ϬϵϲͿ ĐĐŽƵŶƚƐƉĂǇĂďůĞ ;ϴϮ͕ϵϬϮͿ ;ϭϬ͕ϭϲϲͿ ;Ϯϵ͕ϮϬϯͿ ϭϴϮ ;ϭϮϮ͕ϬϴϵͿ ĐĐƌƵĞĚůŝĂďŝůŝƚŝĞƐ Ͳ ;ϭϯϵͿ Ͳ ;ϭͿ ;ϭϰϬͿ
EĞƚĂƐŚĨƌŽŵKƉĞƌĂƚŝŶŐĐƚŝǀŝƚŝĞƐ Ψ ϱϲϯ͕ϲϲϬ Ψ ϳϬϵ͕ϯϬϲ Ψ ϭϭϵ͕ϬϬϲ Ψ ϯϯϮ͕ϱϯϭ Ψ ϭ͕ϳϮϰ͕ϱϬϯ 'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐͲ/ŶƚĞƌŶĂů^ĞƌǀŝĐĞ&ƵŶĚƐ
476 CLICK HERE to Return to Agenda
^ƚĂƚŝƐƚŝĐĂů^ĞĐƚŝŽŶ
:ƵŶĞϯϬ͕ϮϬϮϭ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ͕ĂůŝĨŽƌŶŝĂ
477 CLICK HERE to Return to Agenda
dŚŝƐƉĂŐĞŝŶƚĞŶƚŝŽŶĂůůǇůĞĨƚďůĂŶŬ͘
478 CLICK HERE to Return to Agenda
ϭϮϰ
ŝƚǇŽĨ>ĂYƵŝŶƚĂ
^ƚĂƚŝƐƚŝĐĂů^ĞĐƚŝŽŶ
zĞĂƌ
ŶĚĞĚ:ƵŶĞϯϬ͕ϮϬϮϭ
dŚŝƐƉĂƌƚŽĨƚŚĞŝƚǇŽĨ>ĂYƵŝŶƚĂ͛ƐĐŽŵƉƌĞŚĞŶƐŝǀĞĂŶŶƵĂůĨŝŶĂŶĐŝĂůƌĞƉŽƌƚƉƌĞƐĞŶƚƐĚĞƚĂŝůĞĚŝŶĨŽƌŵĂƚŝŽŶĂƐĂ ĐŽŶƚĞǆƚĨŽƌƵŶĚĞƌƐƚĂŶĚŝŶŐǁŚĂƚƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŶŽƚĞĚŝƐĐůŽƐƵƌĞƐ͕ĂŶĚƌĞƋƵŝƌĞĚ ƐƵƉƉůĞŵĞŶƚĂƌǇŝŶĨŽƌŵĂƚŝŽŶƐĂǇƐĂďŽƵƚƚŚĞŝƚǇ͛ƐŽǀĞƌĂůůĨŝŶĂŶĐŝĂůŚĞĂůƚŚ͘ ŽŶƚĞŶƚƐ WĂŐĞ
&ŝŶĂŶĐŝĂůdƌĞŶĚƐ
dŚĞƐĞƐĐŚĞĚƵůĞƐĐŽŶƚĂŝŶƚƌĞŶĚŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉƚŚĞƌĞĂĚĞƌƵŶĚĞƌƐƚĂŶĚŚŽǁ ƚŚĞŝƚǇΖƐĨŝŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞĂŶĚǁĞůůͲďĞŝŶŐŚĂǀĞĐŚĂŶŐĞĚŽǀĞƌƚŝŵĞ͘ ϭϮϱ ZĞǀĞŶƵĞĂƉĂĐŝƚǇ
dŚĞƐĞƐĐŚĞĚƵůĞƐĐŽŶƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉƚŚĞƌĞĂĚĞƌĂƐƐĞƐƐƚŚĞĨĂĐƚŽƌƐ ĂĨĨĞĐƚŝŶŐƚŚĞŝƚǇΖƐĂďŝůŝƚǇƚŽŐĞŶĞƌĂƚĞŝƚƐƉƌŽƉĞƌƚǇƚĂǆĞƐ͘ ϭϯϳ ĞďƚĂƉĂĐŝƚǇ
dŚĞƐĞƐĐŚĞĚƵůĞƐƉƌĞƐĞŶƚŝŶĨŽƌŵĂƚŝŽŶƚŽŚĞůƉƚŚĞƌĞĂĚĞƌĂƐƐĞƐƐƚŚĞĂĨĨŽƌĚĂďŝůŝƚǇ ŽĨƚŚĞŝƚǇΖƐĐƵƌƌĞŶƚůĞǀĞůƐŽĨŽƵƚƐƚĂŶĚŝŶŐĚĞďƚĂŶĚƚŚĞŝƚǇΖƐĂďŝůŝƚǇƚŽƵƐĞ ĂĚĚŝƚŝŽŶĂůĚĞďƚŝŶƚŚĞĨƵƚƵƌĞ͘ ϭϰϳ
ĞŵŽŐƌĂƉŚŝĐĂŶĚ
ĐŽŶŽŵŝĐ/ŶĨŽƌŵĂƚŝŽŶ
dŚĞƐĞƐĐŚĞĚƵůĞƐŽĨĨĞƌĚĞŵŽŐƌĂƉŚŝĐĂŶĚĞĐŽŶŽŵŝĐŝŶĚŝĐĂƚŽƌƐƚŽŚĞůƉƚŚĞƌĞĂĚĞƌ ƵŶĚĞƌƐƚĂŶĚƚŚĞĞŶǀŝƌŽŶŵĞŶƚǁŝƚŚŝŶǁŚŝĐŚƚŚĞŝƚǇΖƐĨŝŶĂŶĐŝĂůĂĐƚŝǀŝƚŝĞƐƚĂŬĞ ƉůĂĐĞĂŶĚƚŽŚĞůƉŵĂŬĞĐŽŵƉĂƌŝƐŽŶƐŽǀĞƌƚŝŵĞĂŶĚǁŝƚŚŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐ͘ ϭϱϰ KƉĞƌĂƚŝŶŐ/ŶĨŽƌŵĂƚŝŽŶ
dŚĞƐĞƐĐŚĞĚƵůĞƐĐŽŶƚĂŝŶŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞŝƚǇΖƐŽƉĞƌĂƚŝŽŶƐĂŶĚƌĞƐŽƵƌĐĞƐ ƚŽŚĞůƉƚŚĞƌĞĂĚĞƌƵŶĚĞƌƐƚĂŶĚŚŽǁƚŚĞŝƚǇΖƐĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶƌĞůĂƚĞƐƚŽ ƚŚĞƐĞƌǀŝĐĞƐƚŚĞŝƚǇƉƌŽǀŝĚĞƐĂŶĚƚŚĞĂĐƚŝǀŝƚŝĞƐŝƚƉĞƌĨŽƌŵƐ͘ ϭϱϳ ^ŽƵƌĐĞƐ͗hŶůĞƐƐŽƚŚĞƌǁŝƐĞŶŽƚĞĚ͕ƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞƐĞƐĐŚĞĚƵůĞƐŝƐĚĞƌŝǀĞĚĨƌŽŵƚŚĞĂŶŶƵĂůĐŽŵƉƌĞŚĞŶƐŝǀĞ ĨŝŶĂŶĐŝĂůƌĞƉŽƌƚƐĨŽƌƚŚĞƌĞůĞǀĂŶƚǇĞĂƌ͘
479 CLICK HERE to Return to Agenda
&,7<2)/$48,17$
1HW3RVLWLRQE\&RPSRQHQW
/DVW7HQ)LVFDO<HDUV

$FFUXDOEDVLVRIDFFRXQWLQJ

*RYHUQPHQWDO$FWLYLWLHV
1HWLQYHVWPHQWLQFDSLWDODVVHWV

5HVWULFWHG

8QUHVWULFWHG

7RWDO*RYHUQPHQWDO$FWLYLWLHV1HW3RVLWLRQ

%XVLQHVV7\SH$FWLYLWLHV
1HWLQYHVWPHQWLQFDSLWDODVVHWV
5HVWULFWHG
8QUHVWULFWHG

7RWDO%XVLQHVV7\SH$FWLYLWLHV1HW3RVLWLRQ

3ULPDU\*RYHUQPHQW
1HWLQYHVWPHQWLQFDSLWDODVVHWV

5HVWULFWHG

8QUHVWULFWHG

7RWDO3ULPDU\*RYHUQPHQW1HW3RVLWLRQ

)LVFDO<HDU
6RXUFH
&LW\RI/D4XLQWD
480
125
CLICK HERE to Return to Agenda
7$%/(

*RYHUQPHQWDO$FWLYLWLHV

1HWLQYHVWPHQWLQFDSLWDODVVHWV

5HVWULFWHG

8QUHVWULFWHG

7RWDO*RYHUQPHQWDO$FWLYLWLHV1HW3RVLWLRQ %XVLQHVV7\SH$FWLYLWLHV

1HWLQYHVWPHQWLQFDSLWDODVVHWV
5HVWULFWHG

8QUHVWULFWHG

7RWDO%XVLQHVV7\SH$FWLYLWLHV1HW3RVLWLRQ 3ULPDU\*RYHUQPHQW

1HWLQYHVWPHQWLQFDSLWDODVVHWV

5HVWULFWHG

8QUHVWULFWHG

7RWDO3ULPDU\*RYHUQPHQW1HW3RVLWLRQ
481
126
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
&KDQJHVLQ1HW3RVLWLRQ
/DVW7HQ)LVFDO<HDUV

$FFUXDOEDVLVRIDFFRXQWLQJ

([SHQVHV
*RYHUQPHQWDODFWLYLWLHV

*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

&RQWULEXWLRQWRRWKHUDJHQFLHV
,QWHUHVWRQORQJWHUPGHEW

7RWDOJRYHUQPHQWDODFWLYLWLHVH[SHQGLWXUHV

%XVLQHVVW\SHDFWLYLWLHV

*ROIFRXUVH

7RWDOEXVLQHVVW\SHDFWLYLWLHVH[SHQGLWXUHV

3URJUDP5HYHQXHV
*RYHUQPHQWDODFWLYLWLHV

&KDUJHVIRUVHUYLFHV

*HQHUDOJRYHUQPHQW

3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

2SHUDWLQJJUDQWVDQGFRQWULEXWLRQV

&DSLWDOJUDQWVDQGFRQWULEXWLRQV

7RWDOJRYHUQPHQWDODFWLYLWLHVSURJUDPUHYHQXHV

%XVLQHVVW\SHDFWLYLWLHV

&KDUJHVIRUVHUYLFHV

*ROIFRXUVH

&DSLWDOJUDQWVDQGFRQWULEXWLRQV 7RWDOEXVLQHVVW\SHDFWLYLWLHVSURJUDPUHYHQXHV

1HW5HYHQXHV
([SHQGLWXUHV

*RYHUQPHQWDODFWLYLWLHV

%XVLQHVVW\SHDFWLYLWLHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ1HW3RVLWLRQ

*RYHUQPHQWDODFWLYLWLHV

7D[HV

3URSHUW\WD[HV

7D[LQFUHPHQW
7UDQVLHQWRFFXSDQF\WD[HV

6DOHVWD[

)UDQFKLVHWD[HV

%XVLQHVVOLFHQVHWD[HV

2WKHUWD[HV

0RWRUYHKLFOHLQOLHXXQUHVWULFWHG

,QYHVWPHQWLQFRPH

*DLQ
ORVV
RQVDOHRIFDSLWDODVVHWV
0LVFHOODQHRXV

6SHFLDO,WHP
LQWHUIXQGORDQSD\RII

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

7UDQVIHUV

7RWDOJRYHUQPHQWDODFWLYLWLHV

%XVLQHVVW\SHDFWLYLWLHV

,QYHVWPHQWLQFRPH 0LVFHOODQHRXV

7UDQVIHUV

7RWDOEXVLQHVVW\SHDFWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW

&KDQJHVLQ1HW3RVLWLRQ
*RYHUQPHQWDODFWLYLWLHV

%XVLQHVVW\SHDFWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW

7RWDO3ULPDU\*RYHUQPHQW([SHQGLWXUHV
7RWDO3ULPDU\*RYHUQPHQW3URJUDP5HYHQXHV
)LVFDO<HDU
7RWDO1HW5HYHQXHV
([SHQGLWXUHV

6RXUFH
&LW\RI/D4XLQWD
)RUILVFDO
WKHUH LVDRQHWLPHHQWU\IRUDQLQWHUIXQGORDQQRWHGDVD VSHFLDOLWHP
XQGHUJRYHUQPHQWDODFWLYLWHVDQG

PLVFHOODQHRXV
XQGHUEXVLQHVVW\SHDFWLYLWLHV7KLVLVDOVRGLFXVVHGLQWKH1RWHVWR%DVLF)LQDQFLDO6WDWHPHQWVVHFWLRQRIWKH
482
127
CLICK HERE to Return to Agenda
7$%/(

([SHQGLWXUHV

*RYHUQPHQWDODFWLYLWLHV

*HQHUDOJRYHUQPHQW

3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV
&RQWULEXWLRQWRRWKHUDJHQFLHV

,QWHUHVWRQORQJWHUPGHEW

7RWDOJRYHUQPHQWDODFWLYLWLHVH[SHQGLWXUHV %XVLQHVVW\SHDFWLYLWLHV

*ROIFRXUVH

7RWDOEXVLQHVVW\SHDFWLYLWLHVH[SHQGLWXUHV

7RWDO3ULPDU\*RYHUQPHQW([SHQGLWXUHV
3URJUDP5HYHQXHV

*RYHUQPHQWDODFWLYLWLHV

&KDUJHVIRUVHUYLFHV

*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

2SHUDWLQJJUDQWVDQGFRQWULEXWLRQV

&DSLWDOJUDQWVDQGFRQWULEXWLRQV
7RWDOJRYHUQPHQWDODFWLYLWLHVSURJUDPUHYHQXHV %XVLQHVVW\SHDFWLYLWLHV

&KDUJHVIRUVHUYLFHV

*ROIFRXUVH
&DSLWDOJUDQWVDQGFRQWULEXWLRQV

7RWDOEXVLQHVVW\SHDFWLYLWLHVSURJUDPUHYHQXHV

7RWDO3ULPDU\*RYHUQPHQW3URJUDP5HYHQXHV
1HW5HYHQXHV
([SHQGLWXUHV

*RYHUQPHQWDODFWLYLWLHV

%XVLQHVVW\SHDFWLYLWLHV

7RWDO1HW5HYHQXHV
([SHQGLWXUHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ1HW3RVLWLRQ

*RYHUQPHQWDODFWLYLWLHV

7D[HV

3URSHUW\WD[HV
7D[LQFUHPHQW

7UDQVLHQWRFFXSDQF\WD[HV

6DOHVWD[

)UDQFKLVHWD[HV
%XVLQHVVOLFHQVHWD[HV

2WKHUWD[HV

0RWRUYHKLFOHLQOLHXXQUHVWULFWHG ,QYHVWPHQWLQFRPH *DLQ ORVV
RQVDOHRIFDSLWDODVVHWV

0LVFHOODQHRXV

6SHFLDO,WHP LQWHUIXQGORDQSD\RII

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

7UDQVIHUV

7RWDOJRYHUQPHQWDODFWLYLWLHV
%XVLQHVVW\SHDFWLYLWLHV

,QYHVWPHQWLQFRPH
0LVFHOODQHRXV 7UDQVIHUV
7RWDOEXVLQHVVW\SHDFWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW
&KDQJHVLQ1HW3RVLWLRQ

*RYHUQPHQWDODFWLYLWLHV

%XVLQHVVW\SHDFWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW
483
128
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
&KDQJHVLQ1HW3RVLWLRQ*RYHUQPHQWDO$FWLYLWLHV
/DVW7HQ)LVFDO<HDUV

$FFUXDOEDVLVRIDFFRXQWLQJ

([SHQVHV
*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

&RQWULEXWLRQWRRWKHUDJHQFLHV
,QWHUHVWRQORQJWHUPGHEW

7RWDO*RYHUQPHQWDO$FWLYLWLHV([SHQGLWXUHV

3URJUDP5HYHQXHV
&KDUJHVIRUVHUYLFHV

*HQHUDOJRYHUQPHQW

3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

2SHUDWLQJJUDQWVDQGFRQWULEXWLRQV

&DSLWDOJUDQWVDQGFRQWULEXWLRQV

1HW5HYHQXHV
([SHQGLWXUHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ1HW3RVLWLRQ
7D[HV

3URSHUW\WD[HV

7D[LQFUHPHQW
7UDQVLHQWRFFXSDQF\WD[HV

6DOHVWD[

)UDQFKLVHWD[

%XVLQHVVOLFHQVHWD[HV

2WKHUWD[

0RWRUYHKLFOHLQOLHXXQUHVWULFWHG

,QYHVWPHQWLQFRPH

*DLQ
ORVV
RQVDOHRIFDSLWDODVVHWV
0LVFHOODQHRXV

6SHFLDOLWHP
LQWHUIXQGORDQSD\RII

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

7UDQVIHUV

7RWDO*RYHUQPHQWDO$FWLYLWLHV

&KDQJHVLQ1HW3RVLWLRQ

)LVFDO<HDU
7RWDO*RYHUQPHQWDO$FWLYLWLHV3URJUDP5HYHQXHV
6RXUFH
&LW\RI/D4XLQWD
484
129
CLICK HERE to Return to Agenda
7$%/(

([SHQGLWXUHV

*HQHUDOJRYHUQPHQW

3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV
&RQWULEXWLRQWRRWKHUDJHQFLHV

,QWHUHVWRQORQJWHUPGHEW

7RWDO*RYHUQPHQWDO$FWLYLWLHV([SHQGLWXUHV 3URJUDP5HYHQXHV

&KDUJHVIRUVHUYLFHV

*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

2SHUDWLQJJUDQWVDQGFRQWULEXWLRQV

&DSLWDOJUDQWVDQGFRQWULEXWLRQV

7RWDO*RYHUQPHQWDO$FWLYLWLHV3URJUDP
5HYHQXHV

1HW5HYHQXHV
([SHQGLWXUHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ
1HW3RVLWLRQ

7D[HV

3URSHUW\WD[HV
7D[LQFUHPHQW

7UDQVLHQWRFFXSDQF\WD[HV

6DOHVWD[

)UDQFKLVHWD[
%XVLQHVVOLFHQVHWD[HV

2WKHUWD[

0RWRUYHKLFOHLQOLHXXQUHVWULFWHG ,QYHVWPHQWLQFRPH

*DLQ ORVV
RQVDOHRIFDSLWDODVVHWV
0LVFHOODQHRXV

6SHFLDOLWHP LQWHUIXQGORDQSD\RII

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

7UDQVIHUV

7RWDO*RYHUQPHQWDO$FWLYLWLHV

&KDQJHVLQ1HW3RVLWLRQ
485
130
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
&KDQJHVLQ1HW3RVLWLRQ%XVLQHVVW\SH$FWLYLWLHV
/DVW7HQ)LVFDO<HDUV

$FFUXDOEDVLVRIDFFRXQWLQJ

([SHQVHV
*ROIFRXUVH

7RWDO%XVLQHVV7\SH$FWLYLWLHV([SHQGLWXUHV

3URJUDPUHYHQXHV
&KDUJHVIRUVHUYLFHV

*ROIFRXUVH

&DSLWDOJUDQWVDQGFRQWULEXWLRQV

1HW5HYHQXHV
([SHQGLWXUHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ1HW3RVLWLRQ
,QYHVWPHQWLQFRPH *DLQ
ORVV
RQVDOHRIFDSLWDODVVHWV
0LVFHOODQHRXV

7UDQVIHUV

&DSLWDOFRQWULEXWLRQV
7RWDO%XVLQHVV7\SH$FWLYLWLHV

&KDQJHVLQ1HW3RVLWLRQ

7RWDO%XVLQHVV7\SH$FWLYLWLHV3URJUDP5HYHQXHV
)LVFDO<HDU
6RXUFH
&LW\RI/D4XLQWD
486
131
CLICK HERE to Return to Agenda
7$%/(

([SHQGLWXUHV

*ROIFRXUVH

7RWDO%XVLQHVV7\SH$FWLYLWLHV([SHQGLWXUHV
3URJUDPUHYHQXHV

&KDUJHVIRUVHUYLFHV

*ROIFRXUVH
&DSLWDOJUDQWVDQGFRQWULEXWLRQV

1HW5HYHQXHV
([SHQGLWXUHV

*HQHUDO5HYHQXHVDQG2WKHU&KDQJHVLQ1HW3RVLWLRQ

,QYHVWPHQWLQFRPH
*DLQ ORVV
RQVDOHRIFDSLWDODVVHWV
0LVFHOODQHRXV 7UDQVIHUV &DSLWDOFRQWULEXWLRQV
7RWDO%XVLQHVV7\SH$FWLYLWLHV

&KDQJHVLQ1HW3RVLWLRQ
7RWDO%XVLQHVV7\SH$FWLYLWLHV3URJUDP5HYHQXHV
487
132
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
)XQG%DODQFHVRI*RYHUQPHQWDO)XQGV
/DVW7HQ)LVFDO<HDUV

0RGLILHGDFFUXDOEDVLVRIDFFRXQWLQJ

*HQHUDOIXQG
1RQVSHQGDEOH

3UHSDLGFRVWV

/DQGKHOGIRUUHVDOH $GYDQFHVWRRWKHUIXQGV

'HSRVLWV

'XHIURP2WKHU*RYHUQPHQWV

5HVWULFWHGIRU

'HEWVHUYLFH
6HFWLRQ7UXVW
1RWH

&RPPLWWHG

(PHUJHQF\5HVHUYH

1DWXUDO'LVDVWHU5HVHUYH

(FRQRPLF'LVDVWHU5HVHUYH

3RVWUHWLUHPHQWKHDOWKEHQHILWV

&DSLWDO5HSODFHPHQW5HVHUYH

&DVK)ORZ5HVHUYH

3HQVLRQ7UXVW

&DUU\RYHUV
2WKHU
$VVLJQHG

&RQWLQXLQJDSSURSULDWLRQV

3XEOLF6DIHW\
1RWHE

6DOHV7D[5HVHUYH
1RWHE

&DSLWDO3URMHFWV
1RWHE

8QDVVLJQHG

7RWDOJHQHUDOIXQG

$OORWKHUJRYHUQPHQWDOIXQGV
1RQVSHQGDEOH

3UHSDLGFRVWV
1RWHVDQGORDQV

$GYDQFHVWRRWKHUIXQGV
'HSRVLWV
5HVWULFWHG

3ODQQLQJDQGGHYHORSPHQWSURMHFWV

3XEOLFVDIHW\

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

&DSLWDO3URMHFWV

'HEWVHUYLFH
$VVLJQHG

&RQWLQXLQJDSSURSULDWLRQV
8QDVVLJQHG

7RWDODOORWKHUJRYHUQPHQWDOIXQGV

7RWDO*RYHUQPHQWDO)XQGV

)LVFDO<HDU
1RWHV

,Q)LVFDO<HDUWKH&LW\UHFRJQL]HGSURSHUW\WD[KHOGE\WKH&RXQW\RI5LYHUVLGHDVDYDLODEOHWRIXQGFXUUHQWREOLJDWLRQVDQGDV DGMXVWHGXSE\
WR
6HH1RWH
IRU)<

,Q)LVFDO\HDUWKH&LW\DGRSWHGDUHVHUYHVSROLF\ZKLFKPRGLIHGDGGHGDQGRUHOLPLQDWHG UHVHUYH FDWHJRU\QDPHV(PHUJHQ 'LVDVWHUDQG(FRQRPLF'LVDVWHU:RUNLQJ&DSLWDO5HVHUYHZDVUHQDPHG&DVK)ORZ5HVHUYHDQG&DSLWDO5HSODFHPHQWDQG3HQVLRQ7UXVWZ
,Q)LVFDO<HDUWKH&LW\RSHQHGDWUXVWIRU2WKHU3RVW(PSOR\PHQW%HQHILWV 23(%
DQGWKLVUHVHUYHZDVGHSRVLWHGLQWRWKHWUX

,Q)LVFDO<HDU
WKH&LW\RSHQHGDWUXVWIRU3HQVLRQ%HQHILWVDQGWKLVUHVHUYHZDVGHSRVLWHGLQWRWKHWUXVW6HH1RWH 6RXUFH
&LW\RI/D4XLQWD
488
133
CLICK HERE to Return to Agenda
7$%/(

*HQHUDOIXQG

1RQVSHQGDEOH

3UHSDLGFRVWV

/DQGKHOGIRUUHVDOH
$GYDQFHVWRRWKHUIXQGV 'HSRVLWV

'XHIURP2WKHU*RYHUQPHQWV
5HVWULFWHGIRU

'HEWVHUYLFH

6HFWLRQ7UXVW
1RWH

&RPPLWWHG

(PHUJHQF\5HVHUYH

1DWXUDO'LVDVWHU5HVHUYH

(FRQRPLF'LVDVWHU5HVHUYH

3RVWUHWLUHPHQWKHDOWKEHQHILWV

&DSLWDO5HSODFHPHQW5HVHUYH

&DVK)ORZ5HVHUYH

3HQVLRQ7UXVW

&DUU\RYHUV
2WKHU $VVLJQHG

&RQWLQXLQJDSSURSULDWLRQV

3XEOLF6DIHW\
1RWHE

6DOHV7D[5HVHUYH
1RWHE

&DSLWDO3URMHFWV
1RWHE

8QDVVLJQHG
7RWDOJHQHUDOIXQG $OORWKHUJRYHUQPHQWDOIXQGV

1RQVSHQGDEOH

3UHSDLGFRVWV
1RWHVDQGORDQV $GYDQFHVWRRWKHUIXQGV 'HSRVLWV 5HVWULFWHG

3ODQQLQJDQGGHYHORSPHQWSURMHFWV

3XEOLFVDIHW\
&RPPXQLW\VHUYLFHV 3XEOLFZRUNV

&DSLWDO3URMHFWV
'HEWVHUYLFH $VVLJQHG

&RQWLQXLQJDSSURSULDWLRQV

8QDVVLJQHG

7RWDODOORWKHUJRYHUQPHQWDOIXQGV

7RWDO*RYHUQPHQWDO)XQGV VXFKWKH*HQHUDO)XQGIXQGEDODQFHZDV
QF\5HVHUYHVDUHQRZVSOLWLQWR1DWXUDO
ZHUHDGGHG
VW6HH1RWH
489
134
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
&KDQJHVLQ)XQG%DODQFHVRI*RYHUQPHQWDO)XQGV
/DVW7HQ)LVFDO<HDUV

0RGLILHGDFFUXDOEDVLVRIDFFRXQWLQJ

5HYHQXHV
7D[HV

$VVHVVPHQWV

/LFHQVHVDQGSHUPLWV

,QWHUJRYHUQPHQWDO

&KDUJHVIRUVHUYLFHV 8VHRIPRQH\DQGSURSHUW\

&RQWULEXWLRQVILQHVDQGIRUIHLWXUHV

'HYHORSHUSDUWLFLSDWLRQ

0LVFHOODQHRXV

7RWDO5HYHQXHV

([SHQGLWXUHV
&XUUHQW

*HQHUDOJRYHUQPHQW
3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

&DSLWDOSURMHFWV

'HEWVHUYLFH

3ULQFLSDOUHWLUHPHQW

,QWHUHVWDQGILVFDOFKDUJHV
3D\PHQWWRERQGHVFURZ 3D\PHQWVXQGHUSDVVWKURXJKREOLJDWLRQV 7RWDO([SHQGLWXUHV

2WKHUILQDQFLQJVRXUFHV
XVHV

,VVXDQFHRIWD[DOORFDWLRQERQGV ,VVXDQFHRIUHYHQXHERQGV 3URFHHGVIURPVDOHRIODQG 7UDQVIHUVLQ
7UDQVIHUVRXW

2WKHUGHEWVLVVXHG &DSLWDOOHDVHV
3URFHHGVIURPVDOHRIFDSLWDODVVHWV 7RWDO2WKHU)LQDQFLQJ6RXUFHV
8VHV

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

6SHFLDOLWHP
LQWHUIXQGORDQSD\RII
1HW&KDQJHLQ)XQG%DODQFHV

)LVFDO<HDU
([FHVV
'HILFLHQF\
RI5HYHQXHV2YHU
8QGHU

([SHQGLWXUHV
'HEW6HUYLFHDVD3HUFHQWDJHRI1RQFDSLWDO
([SHQGLWXUHV

1RWHV

7KHFDSLWDOL]DEOHH[SHQGLWXUHVZHUHGHULYHGIURPWKH5HFRQFLOLDWLRQRIWKH6WDWHPHQWRI5HYHQXHV([SHQGLWXUHVDQG&KDQJHVLQ)XQG %DODQFHVRI*RYHUQPHQWDO)XQGV DQG1RWH&DSLWDO$VVHWV 490
135
CLICK HERE to Return to Agenda
7$%/(

5HYHQXHV

7D[HV

$VVHVVPHQWV

/LFHQVHVDQGSHUPLWV

,QWHUJRYHUQPHQWDO

&KDUJHVIRUVHUYLFHV

8VHRIPRQH\DQGSURSHUW\

&RQWULEXWLRQVILQHVDQGIRUIHLWXUHV
'HYHORSHUSDUWLFLSDWLRQ

0LVFHOODQHRXV

7RWDO5HYHQXHV
([SHQGLWXUHV
&XUUHQW

*HQHUDOJRYHUQPHQW

3XEOLFVDIHW\

3ODQQLQJDQGGHYHORSPHQW

&RPPXQLW\VHUYLFHV

3XEOLFZRUNV

&DSLWDOSURMHFWV
'HEWVHUYLFH

3ULQFLSDOUHWLUHPHQW ,QWHUHVWDQGILVFDOFKDUJHV 3D\PHQWWRERQGHVFURZ 3D\PHQWVXQGHUSDVVWKURXJKREOLJDWLRQV

7RWDO([SHQGLWXUHV

2WKHUILQDQFLQJVRXUFHV
XVHV

,VVXDQFHRIWD[DOORFDWLRQERQGV ,VVXDQFHRIUHYHQXHERQGV 3URFHHGVIURPVDOHRIODQG

7UDQVIHUVLQ

7UDQVIHUVRXW
2WKHUGHEWVLVVXHG &DSLWDOOHDVHV 3URFHHGVIURPVDOHRIFDSLWDODVVHWV

7RWDO2WKHU)LQDQFLQJ6RXUFHV
8VHV

([WUDRUGLQDU\JDLQORVVRQGLVVROXWLRQRI5'$

6SHFLDOLWHP
LQWHUIXQGORDQSD\RII

1HW&KDQJHLQ)XQG%DODQFHV
'HEW6HUYLFHDVD3HUFHQWDJHRI1RQFDSLWDO
([SHQGLWXUHV

([FHVV
'HILFLHQF\
RI5HYHQXHV2YHU
8QGHU

([SHQGLWXUHV
491
136
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
7D[5HYHQXHE\6RXUFH
/DVW7HQ)LVFDO<HDUV
)LVFDO
<HDU
3URSHUW\
7D[

7D[
,QFUHPHQW

7UDQVLHQW
2FFXSDQF\
7D[ 6DOHV7D[
)UDQFKLVH
7D[
%XVLQHVV
/LFHQVH
7D[
'RFXPHQW
7UDQVIHU
7D[ 7RWDO

1RWHV

7KH WD[LQFUHPHQWUHFHLYHGZDVDUHVXOWRIWKHDFWLYLW\RIWKH5HGHYHORSPHQW$JHQF\2Q-XQH&DOLIRUQLD*RYHUQRU-HUU\%URZQ VLJQHG$%[WKH5HGHYHORSPHQW'LVVROXWLRQ$FW7KH$FWZDVXSKHOGE\WKH&DOLIRUQLD6XSUHPH&RXUWRQ'HF DQGWKH DJHQF\
ZDVHIIHFWLYHO\GLVVROYHG)HE

6WDUWLQJLQWKHUHYHQXHFROOHFWHGE\WKH&RXQW\WKDWLVUHPLWWHGWRWKH&LW\IRUILUHVHUYLFHVLVLQFOXGHGLQWKHSURSHUW\ WD[QXPEHU 6RXUFH
&LW\RI/D4XLQWD
ΨϬ
ΨϭϬ
ΨϮϬ
ΨϯϬ
ΨϰϬ
ΨϱϬ
ΨϲϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
Tax Revenue by Source
(Excluding Tax Increment)
(in millions)
Property Tax (2) Transient Occupancy Tax Sales Tax Franchise Tax Business License Tax Document Transfer Tax 492
137
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
7RS%UDGOH\%XUQV6DOHV7D[3URGXFHUV
&XUUHQW<HDUDQG7HQ<HDUV$JR

LQGROODUV

%HVW%X\ (OHFWURQLFV$SSOLDQFH6WRUHV
%HY0R &RQYHQLHQFH6WRUHV/LTXRU
&LUFOH. 6HUYLFH6WDWLRQV
&RVWFR 'LVFRXQW'HSW6WRUHV %HY0R &RQYHQLHQFH6WRUHV/LTXRU )ORRU 'pFRU %XLOGLQJ0DWHULDOV
* 02LO 6HUYLFH6WDWLRQV &LUFOH. 6HUYLFH6WDWLRQV
*HQHVLV+\XQGDLRI/D4XLQWD 1HZ0RWRU9HKLFOH'HDOHUV
+REE\/REE\ 6SHFLDOW\6WRUHV
+RPH'HSRW %XLOGLQJ0DWHULDOV +\XQGDLRI/D4XLQWD 1HZ0RWRU9HKLFOH'HDOHUV ,Q12XW%XUJHUV 4XLFN6HUYLFH5HVWDXUDQWV
.RKO
V 'HSDUWPHQW6WRUHV .RKO
V 'HSDUWPHQW6WRUHV
/D4XLQWD&KHYUROHW &DGLOODF 1HZ0RWRU9HKLFOH'HDOHUV /D4XLQWD5HVRUW &OXE +RWHOV/LTXRU /D4XLQWD5HVRUW 3*$:HVW +RWHOV/LTXRU /RZH
V %XLOGLQJ0DWHULDOV
/RZH
V %XLOGLQJ0DWHULDOV /XPS\
V'LVFRXQW*ROI 6SRUWLQJ*RRGV%LNH6WRUHV
0DUVKDOOV )DPLO\$SSDUHO
0F'RQDOG
V 4XLFN6HUYLFH5HVWDXUDQWV 5DOSKV *URFHU\6WRUHV
3*$:HVW3ULYDWH /HLVXUH(QWHUWDLQPHQW 5RVV )DPLO\$SSDUHO 5RVV )DPLO\$SSDUHO 6WDWHU%URV *URFHU\6WRUHV
6WDWHU%URV *URFHU\6WRUHV 6WHLQ0DUW 'HSDUWPHQW6WRUHV 7DUJHW 'LVFRXQW'HSW6WRUHV 7DUJHW 'LVFRXQW'HSW6WRUHV 7-0D[[ )DPLO\$SSDUHO 7RUUH1LVVDQ 1HZ0RWRU9HKLFOH'HDOHUV 7RUUH1LVVDQ 1HZ0RWRU9HKLFOH'HDOHUV 7RZHU0DUW 6HUYLFH6WDWLRQV 7RZHU0DUW 6HUYLFH6WDWLRQV 86$*DV 6HUYLFH6WDWLRQV
9LQWQHUV6KHOO6WDWLRQ 6HUYLFH6WDWLRQV
:DOPDUW6XSHUFHQWHU 'LVFRXQW'HSW6WRUHV

0DUVKDOOV )DPLO\$SSDUHO
)LVFDO<HDU
%XVLQHVV1DPH %XVLQHVV&DWHJRU\

3HUFHQWRI)LVFDO<HDU7RWDO3DLGE\7RS$FFRXQWV
3HUFHQWRI)LVFDO<HDU7RWDO3DLGE\7RS$FFRXQWV

9RQV
:DOPDUW6XSHUFHQWHU
*URFHU\6WRUHV
'LVFRXQW'HSW6WRUHV
+RPH'HSRW %XLOGLQJ0DWHULDOV
1HZ0RWRU9HKLFOH'HDOHUV
'LVFRXQW'HSW6WRUHV
6HUYLFH6WDWLRQV
&KHYUROHW&DGLOODFRI/D4XLQWD
&RVWFR
* 02LO
)LVFDO<HDU
(OHFWURQLFV$SSOLDQFH6WRUHV
$UFR$030
%HG%DWK %H\RQG
%HVW%X\
6HUYLFH6WDWLRQV
+RPH)XUQLVKLQJV
%XVLQHVV1DPH

%XVLQHVV&DWHJRU\
1RWHV

)LUPVDUHOLVWHGDOSKDEHWLFDOO\ 6WDWHODZGRHVQRWDOORZIRUWKHGLVFORVXUHRIWKHVDOHVWD[UHYHQXHDPRXQWVE\DFFRXQW 7RSEXVLQHVVHVOLVWHGIRUVWDWH%UDGOH\%XUQVVDOHVWD[DOORFDWLRQRQO\)RU7RSEXVLQHVVOLVWLQJVE\ORFDO0HDVXUH*VHHQH[WSDJH6DOHVWD[ UHYHQXHFKDUWLQFOXGHVWRWDOUHPLWWHGIRUERWK
ΨϬ
Ψϱ
ΨϭϬ
Ψϭϱ
ΨϮϬ
ΨϮϱ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
Combined Sales Tax Revenue
(in millions)
493
138
CLICK HERE to Return to Agenda
dŚŝƐƉĂŐĞůĞĨƚďůĂŶŬŝŶƚĞŶƚŝŽŶĂůůǇ͘
494
139
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
7RS0HDVXUH*6DOHV7D[3URGXFHUV
&XUUHQW<HDUDQG7HQ<HDUV$JR

LQGROODUV

$PD]RQ)XOILOOPHQW6HUYLFHV *HQHUDO0HUFKDQGLVH
$PD]RQ0)$ *HQHUDO0HUFKDQGLVH
%HVW%X\ (OHFWURQLFV$SSOLDQFH6WRUHV
%HVWEX\&RP (OHFWURQLFV$SSOLDQFH6WRUHV
&LUFOH. 6HUYLFH6WDWLRQV
&RVWFR 'LVFRXQW'HSW6WRUHV
'HSWRI0RWRU9HKLFOHV$OORFDWLRQ 8VHG$XWRPRWLYH'HDOHUV 'HVHUW(XURSHDQ0RWRU&DUV 1HZ0RWRU9HKLFOH'HDOHUV
)ORRU 'pFRU %XLOGLQJ0DWHULDOV
+REE\/REE\ 6SHFLDOW\6WRUHV
+RPH'HSRW %XLOGLQJ0DWHULDOV
,Q12XW%XUJHU 4XLFN6HUYLFH5HVWDXUDQWV
.RKO
V 'HSDUWPHQW6WRUHV
/D4XLQWD&KHYUROHW &DGLOODF 1HZ0RWRU9HKLFOH'HDOHUV /D4XLQWD5HVRUW 3*$:HVW +RWHOV/LTXRU
/RZH
V %XLOGLQJ0DWHULDOV
0DUVKDOOV )DPLO\$SSDUHO
0DWKLV%URWKHUV)XUQLWXUH +RPH)XUQLVKLQJV
3*$:HVW3ULYDWH /HLVXUH(QWHUWDLQPHQW
7-0D[[ )DPLO\$SSDUHO
7RZHU0DUW 6HUYLFH6WDWLRQV
9RQV *URFHU\6WRUHV
3HUFHQWRI)LVFDO<HDU7RWDO3DLGE\7RS$FFRXQWV

0HDVXUH*ZDVSDVVHGLQ1RYHPEHUDQGLPSOHPHQWHGRQ $SULO7HQ\HDULVGDWDQRWDYDLODEOH
:DOPDUW6XSHUFHQWHU 'LVFRXQW'HSW6WRUHV
5RVV )DPLO\$SSDUHO
7DUJHW 'LVFRXQW'HSW6WRUHV
)LVFDO<HDU )LVFDO<HDU
%XVLQHVV1DPH

%XVLQHVV&DWHJRU\ %XVLQHVV1DPH %XVLQHVV&DWHJRU\
1RWHV

)LUPVDUHOLVWHGDOSKDEHWLFDOO\ 6WDWHODZGRHVQRWDOORZIRUWKHGLVFORVXUHRIWKHVDOHVWD[UHYHQXHDPRXQWVE\DFFRXQW 6RXUFH
+G/&RUHQ &RQH
495
140
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
7D[DEOH6DOHVE\&DWHJRU\

/DVW7HQ&DOHQGDU<HDUV

LQWKRXVDQGV

%XLOGLQJPDWHULDOV
&DOHQGDU<HDU
(DWLQJDQGGULQNLQJSODFHV
$SSDUHOVWRUHV
*HQHUDOPHUFKDQGLVH
)RRGVWRUHV
$XWRGHDOHUVDQGVXSSOLHV
6HUYLFHVWDWLRQV
2WKHUUHWDLOVWRUHV
$OORWKHURXWOHWV
7RWDO
Notes:
(1) Due to confidentiality issues preventing the disclosure of the largest sales tax payers by business name, this categorical list has been provided as an alternative source of information regarding the City of La Quinta's sales tax revenue.

Source: HdL. Coren & Cone
Apparel stores
3%
General merchandise
28%
Food stores
3%
Eating and drinking places
12%
Building materials
8%
Auto dealers and supplies
8%
Service stations
7%
Other retail stores
13%
All other outlets
18%
7D[DEOH6DOHV
&DOHQGDU<HDU
496
141
CLICK HERE to Return to Agenda
7$%/(

(DWLQJDQGGULQNLQJSODFHV

$XWRGHDOHUVDQGVXSSOLHV

7RWDO
6HUYLFHVWDWLRQV
2WKHUUHWDLOVWRUHV
$OORWKHURXWOHWV
$SSDUHOVWRUHV
*HQHUDOPHUFKDQGLVH
)RRGVWRUHV
%XLOGLQJPDWHULDOV
Apparel stores
3%
General merchandise
25%
Food stores
3%
Eating and drinking
places
11%
Building materials
12%
Auto dealers and
supplies
8%
Service stations
3%
Other retail stores
11%
All other outlets
24%
7D[DEOH6DOHV
&DOHQGDU<HDU
497
142
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
$VVHVVHG9DOXHRI7D[DEOH3URSHUW\
/DVW7HQ)LVFDO<HDUV

LQGROODUV

)LVFDO<HDU(QGHG
-XQH 5HVLGHQWLDO &RPPHUFLDO $JULFXOWXUH

2WKHU

8QVHFXUHG
3URSHUW\

+RPH2ZQHU
([HPSWLRQ

7D[DEOH$VVHVVHG
9DOXH
'LUHFW5DWH

&LW\RI/D4XLQWD7D['LVWULFW
1RWHV

2WKHU LQFOXGHV GU\ IDUP JRYHUQPHQW RZQHG LQVWLWXWLRQDO LUULJDWHG PLVFHOODQHRXV UHFUHDWLRQDO YDFDQW FURVV UHIHUHQFH DQG XQNQRZQ 6WDUWLQJ LQ SULRU \HDUV WKURXJK ZHUH DGMXVWHG WR PDWFK FXUUHQW UHSRUWLQJ FDWHJRULHV IRU FRQVLVWHQF\
3ULRU \HDUV WKURXJK DGMXVWHG WR PDWFK FXUUHQW UHSRUWLQJ IRU FRQVLVWHQF\
,Q
WKH YRWHUV RI WKH 6WDWH RI &DOLIRUQLD SDVVHG 3URSRVLWLRQ ZKLFK OLPLWHG SURSHUW\ WD[HV WR D WRWDO PD[LPXP UDWH RI EDVHG XSRQ WKH DVVHVVHG YDOXH RI WKH SURSHUW\ EHLQJ WD[HG (DFK \HDU WKH DVVHVVHG YDOXH RI SURSHUW\ PD\ EH LQFUHDVHG E\ DQ LQIODWLRQ IDFWRU OLPLWHG WR D PD[LPXP LQFUHDVH RI
:LWK IHZ H[FHSWLRQV
SURSHUW\ LV RQO\ UHDVVHVVHG DW WKH WLPH WKDW LW LV VROG WR D QHZ RZQHU DW ZKLFK WLPH WKH QHZ DVVHVVHG YDOXH LV WKH SXUFKDVH SULFH RI WKH SURSHUW\ VROG 7KH DVVHVVHG YDOXDWLRQ GDWD VKRZQ DERYH UHSUHVHQWV RQO\ WKH GDWD FXUUHQWO\ DYDLODEOH ZLWK UHVSHFW WR WKH DFWXDO PDUNHW YDOXH RI WD[DEOH SURSHUW\ DQG LV VXEMHFW WR WKH OLPLWDWLRQV GHVFULEHG DERYH
,Q

DQG JRLQJ IRUZDUG
GDWD ZLOO EH REWDLQHG IURP &DOLIRUQLD 0XQLFLSDO DQG 7KH $XGLWRU&RQWUROOHU V 2IILFH 7KH H[LVWLQJ FROXPQ KHDGHUV ZHUH VOLJKWO\ PRGLILHG WR DFFRPPRGDWH WKH SURSHUW\ W\SH FODVVLILFDWLRQV 7KH FROXPQ ODEHOHG DJULFXOWXUH ZDV IRUPHUO\ LQGXVWULDO
3ULRU WR WKLV FROXPQ DOVR LQFOXGHG ([HPSW 3URSHUW\ 9DOXDWLRQV 6RXUFH

&DO 0XQL
&RXQW\ RI 5LYHUVLGH $VVHVVRU &RPELQHG 7D[ 5ROOV (TXDOL]HG $XGLWRU DQG $VVHVVRU V 1HW
5LYHUVLGH &RXQW\ $XGLWRU&RQWUROOHU
ΨϬ
Ψϭ͕ϬϬϬ
ΨϮ͕ϬϬϬ
Ψϯ͕ϬϬϬ
Ψϰ͕ϬϬϬ
Ψϱ͕ϬϬϬ
Ψϲ͕ϬϬϬ
Ψϳ͕ϬϬϬ
Ψϴ͕ϬϬϬ
Ψϵ͕ϬϬϬ
ΨϭϬ͕ϬϬϬ
Ψϭϭ͕ϬϬϬ
ΨϭϮ͕ϬϬϬ
Ψϭϯ͕ϬϬϬ
Ψϭϰ͕ϬϬϬ
Ψϭϱ͕ϬϬϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
7D[DEOH$VVHVVHG9DOXH

LQPLOOLRQV

498
143
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
'LUHFWDQG2YHUODSSLQJ3URSHUW\7D[5DWHV

5DWHSHURIDVVHVVHGYDOXH

/DVW7HQ)LVFDO<HDUV
3$

'LUHFW5DWHV

&LW\RI/D4XLQWD

(5$)6KDUHRI/D4XLQWD*HQHUDO)XQG 5HGHYHORSPHQW$JHQF\3URMHFW$UHD 5HGHYHORSPHQW$JHQF\3URMHFW$UHD

&RXQW\RI5LYHUVLGH

(5$)6KDUHRI&RXQW\

&RXQW\)UHH/LEUDU\
&RXQW\6WUXFWXUH)LUH3URWHFWLRQ &RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW 'HVHUW6DQGV8QLILHG6FKRRO

'HVHUW&RPPXQLW\&ROOHJH'LVWULFW

5LYHUVLGH&RXQW\2IILFHRI(GXFDWLRQ 5LYHUVLGH&RXQW\5HJLRQDO3DUN 2SHQ6SD

&93XEOLF&HPHWHU\ &90RVTXLWR 9HFWRU&RQWURO 'HVHUW5HFUHDWLRQ'LVWULFW

&RDFKHOOD9DOOH\:DWHU'LVWULFW
&95HVRXUFH&RQVHUYDWLRQ &9:',PSURYHPHQW'LVWULFW &9:'6WRUP:DWHU8QLW 7RWDO'LUHFW5DWH

7D[5DWH$UHD
&RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW

'HVHUW6DQGV8QLILHG6FKRRO

&RDFKHOOD9DOOH\:DWHU'LVWULFW 'HVHUW&RPPXQLW\&ROOHJH'LVWULFW

7RWDO2YHUODSSLQJ5DWH

7RWDO'LUHFWDQG2YHUODSSLQJ5DWH

5HGHYHORSPHQW3URMHFW$UHD
2YHUODSSLQJ5DWHV

&LW\1RQ3URMHFW$UHD 3$
1RWHV

'LUHFWUDWHIURP7D[5DWH$UHD
75$
DQGRYHUODSSLQJ UDWHVSURYLGHGE\+G/&RUHQ &RQH GDWDVRXUFH5LYHUVLGH&RXQW\$VVHVVRU
$QQXDO7D[,QFUHPHQW
5DWH
7DEOHV

'LUHFWUDWHWDNHQIURPDQDQDO\VLVRIWKH75$LQWKHSURMHFWDUHDDQGGRHVQRWLQFOXGH6WDWH(5$) GHGXFWLRQVDQGRYHUODSSLQJUDWHVSURYLGHGE\&DOLIRUQLD0XQLFLSDO 6WDWLVWLFV

,Q
&DOLIRUQLDYRWHUVSDVVHG3URSRVLWLRQZKLFKVHWVWKHSURSHUW\WD[UDWHDWDIL[HGDPRXQWIRUGLUHFWWD[HV7KLVLVVKDUHGE\DOOWD[LQJDJHQFLHV IRUZKLFKWKHVXEMHFWSURSHUW\UHVLGHVZLWKLQ

2YHUODSSLQJUDWHVDUHEDVHGXSRQDVLQJOHWD[UDWHDUHDRQO\ 6RXUFH
&RXQW\RI5LYHUVLGH$XGLWRU&RQWUROOHU
V2IILFH
+G/ &RUHQ &RQH
499
144
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
3ULQFLSDO3URSHUW\7D[SD\HUV
&XUUHQW<HDUDQG7HQ<HDUV$JR

LQGROODUV

5DQN
7D[DEOH
$VVHVVHG9DOXH

3HUFHQWRI
7RWDO&LW\
7D[DEOH
$VVHVVHG
9DOXH 5DQN
7D[DEOH
$VVHVVHG9DOXH

3HUFHQWRI
7RWDO&LW\
7D[DEOH
$VVHVVHG
9DOXH

&DOHR%D\'U//&

+DQHV9LOODJJLR

7''HVHUW'HYHORSPHQW

0655HVRUW*ROI&RXUVH &RUDO2SWLRQ, :50/D4XLQWD
*ULIILQ5DQFK 7''HVHUW'HYHORSPHQW/3

7RWDO

)LVFDO<HDU
&0:DYH'HY
+DZWKRUQ,/3URS&R
)LVFDO<HDU
%UH,FRQLF/452ZQHU//&
,QODQG$PHULFDQ/D4XLQWD3DYLOLRQ
7RZQDQG&RXQWU\3DUWQHUV
$YHQWLQH'HY
.6/'HVHUW5HVRUW
7D[SD\HU
(DVWRI0DGLVRQ
:DOPDUW5HDO(VWDWH%XVLQHVV7UXVW

7D[DEOHYDOXDWLRQVLQFOXGHVHFXUHGDQGXQVHFXUHG
6RXUFH

+G/&RUHQ &RQH
5LYHUVLGH&RXQW\$VVHVVRUDQG &RPELQHG7D[ 5ROOVDQGWKH6%(1RQ8QLWDU\7D[5ROO 3UHOLPLQDU\

%UH,FRQLF/452ZQHU
//&
,QODQG$PHULFDQ/D
4XLQWD3DYLOLRQ
+DZWKRUQ,/3URS&R
7RZQDQG&RXQWU\
3DUWQHUV
:DOPDUW5HDO(VWDWH
%XVLQHVV7UXVW
&0:DYH'HY
(DVWRI0DGLVRQ
&DOHR%D\'U
//&
$YHQWLQH'HY
3ULQFLSDO3URSHUW\7D[3D\HUV

500
145
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
3URSHUW\7D[/HYLHVDQG&ROOHFWLRQV
/DVW7HQ)LVFDO<HDUV

LQGROODUV

)LVFDO<HDU
(QGHG-XQH

7D[HV/HYLHG
IRUWKH)LVFDO
<HDU

$PRXQW
3HUFHQWRI
/HY\
&ROOHFWLRQVLQ
6XEVHTXHQW
<HDUV

$PRXQW

3HUFHQWRI
/HY\

7RWDO&ROOHFWLRQVWR'DWH
&ROOHFWLRQVZLWKLQWKH)LVFDO
<HDURI/HY\
1RWHV

7D[HV/HYLHG7KHWRWDOWD[OHY\LVEDVHGRQWKH6WDWHPHQWRI2ULJLQDO&KDUJHIURPWKH5LYHUVLGH&RXQW\$XGLWRU &RQWUROOHU2IILFH7KHDPRXQWVSUHVHQWHGLQFOXGH&LW\SURSHUW\WD[HVIRUWD[GLVWULFWVDQGDQGDUH QRWLQFOXVLYHRIWKHUHGHYHORSPHQWLQFUHPHQWYDOXHV

&ROOHFWLRQVLQ6XEVHTXHQW<HDUV7KH&LW\SDUWLFLSDWHVLQWKH5LYHUVLGH&RXQW\7HHWHUSURJUDP WKHVHFXUHGWD[HV
DUHUHPLWWHGLQDVHULHVRIDGYDQFHVDQGVHWWOHPHQWSD\PHQWVWKHODVWRIZKLFKLVQRWUHFHLYHGE\WKH&LW\XQWLO 2FWREHURIWKHVXEVHTXHQW\HDU

&ROOHFWLRQVWR'DWH7KHWRWDODPRXQWGRHVQRWLQFOXGHDQ\DSSRUWLRQPHQWDGMXVWPHQWVWKDWDUHWKHUHVXOW RI VXFFHVVIXODSSHDOVRIDWD[SD\HUDVVHVVHGYDOXDWLRQHVFDSHGELOOVUHIXQGVRUDQ\RWKHUDGMXVWPHQWVPDGHE\WKH &RXQW\$XGLWRU&RQWUROOHU$VVXFKWKHSHUFHQWDJHRIWKHOHY\FROOHFWHGPD\EHKLJKHURUORZHUWKDQH[SHFWHG $GGLWLRQDOO\WKHLQFUHPHQWYDOXHVRIWKHIRUPHU5HGHYHORSPHQW$JHQF\DUHDOORFDWHGWKURXJK DZDWHUIDOOGLVWULEXWLRQ SURFHVVLQ DFFRUGDQFHZLWK&DOLIRUQLD+HDOWKDQG6DIHW\&RGHDQGDQGDUHQRWUHIOHFWHGRQWKH 6WDWHPHQWRI2ULJLQDO&KDUJH

7KHVWDWHPHQWRIRULJLQDOFKDUJHWKDWZDVSRVWHGRQWKHWKH$XGLWRU&RQUROOHU $&2
ZHEVLWHKDG QRWEHHQXSGDWHG
DWWLPHRISXEOLVKLQJWKH
&$)57KHQXPEHUUHSRUWHGLQWKH
WD[HVOHYLHG
FROXPQKDVQRZEHHQDGMXVWHGWR
DFFXUDWHO\UHIOHFWWKH$&2QXPEHUZKLFKVXEVHTXHQWO\FKDQJHGWKHSHUFHQWFROOHFWHGDVZHOO 6RXUFH
&RXQW\ RI 5LYHUVLGH $XGLWRU &RQWUROOHU
V 2IILFH
ΨϬ
Ψϱ
ΨϭϬ
Ψϭϱ
ΨϮϬ
ΨϮϱ
ΨϯϬ
Ψϯϱ
ΨϰϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ;ϰͿ ϮϬϮϭ
3URSHUW\7D[&ROOHFWLRQV

LQPLOOLRQV

501
146
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
5DWLRVRI2XWVWDQGLQJ'HEWE\7\SH

/DVW7HQ)LVFDO<HDUV

LQGROODUV

1RWHV3D\DEOH(LVHQKRZHU'ULYH3URSHUW\

7RWDO*RYHUQPHQWDO

&DSLWDO/HDVHV

7RWDO%XVLQHVV7\SH$FWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW

3RSXODWLRQ6WDWH'HSDUWPHQWRI)LQDQFH-DQXDU\

1XPEHURI+RXVHKROGV 0HGLDQ+RXVHKROG,QFRPH

3HUFHQWDJHRI3HUVRQDO,QFRPH

'HEW3HU&DSLWD
8QDPRUWL]HG'LVFRXQWDQG,VVXDQFH&RVWV
5HLPEXUVHPHQW$JUHHPHQW
%XVLQHVVW\SH$FWLYLWLHV

'XHWR&RXQW\RI5LYHUVLGH
'HYHORSHU$JUHHPHQW
7D[$OORFDWLRQ%RQGV3URMHFW$UHD
7D[$OORFDWLRQ%RQGV3URMHFW$UHD
/RFDO$JHQF\5HYHQXH%RQGV

/RFDO$JHQF\5HYHQXH%RQGV

86'$/RDQ
3URYLGHQW6DYLQJV/RDQ
)LVFDO<HDU(QGHG
*RYHUQPHQWDO$FWLYLWLHV

'XHWR&RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW
&DSLWDOOHDVHV
&LW\+DOO/HDVH5HYHQXH%RQGV
1RWHV

'HWDLOVUHJDUGLQJWKH&LW\
VRXWVWDQGLQJGHEWFDQEHIRXQGLQWKHQRWHVWRWKHILQDQFLDOVWDWHPHQWV

7KHGHEWVHUYLFHSD\PHQWIRUWKHDQG/HDVH5HYHQXH%RQGVDUHPDGHIURP5HGHYHORSPHQW3URMHFW$UHD ORZ PRGHUDWH LQFRPHWD[LQFUHPHQW
6RXUFH
&LW\RI/D4XLQWD
+'/ &RUHQ &RQH
502
147
CLICK HERE to Return to Agenda
7$%/(

1RWHV3D\DEOH(LVHQKRZHU'ULYH3URSHUW\

7RWDO*RYHUQPHQWDO
&DSLWDO/HDVHV 7RWDO%XVLQHVV7\SH$FWLYLWLHV

7RWDO3ULPDU\*RYHUQPHQW
3RSXODWLRQ6WDWH'HSDUWPHQWRI)LQDQFH-DQXDU\ 1XPEHURI+RXVHKROGV

0HGLDQ+RXVHKROG,QFRPH

3HUFHQWDJHRI3HUVRQDO,QFRPH

'HEW3HU&DSLWD /RFDO$JHQF\5HYHQXH%RQGV

&LW\+DOO/HDVH5HYHQXH%RQGV
*RYHUQPHQWDO$FWLYLWLHV

8QDPRUWL]HG'LVFRXQWDQG,VVXDQFH&RVWV
%XVLQHVVW\SH$FWLYLWLHV

'XHWR&RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW
'XHWR&RXQW\RI5LYHUVLGH
'HYHORSHU$JUHHPHQW
7D[$OORFDWLRQ%RQGV3URMHFW$UHD
7D[$OORFDWLRQ%RQGV3URMHFW$UHD
/RFDO$JHQF\5HYHQXH%RQGV

5HLPEXUVHPHQW$JUHHPHQW
&DSLWDOOHDVHV
86'$/RDQ
3URYLGHQW6DYLQJV/RDQ
Ͳ
ϮϬ
ϰϬ
ϲϬ
ϴϬ
ϭϬϬ
ϭϮϬ
ϭϰϬ
ϭϲϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
ϭϬϴ
ϭϰϴ
ϭϯϮ
ϭϭϱ
ϭϬϬ
ϭϰϲ
ϱϵ
ϭϵ
Ͳ
ϭϭ
'HEW3HU&DSLWD
503
148
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
5DWLRRI*HQHUDO%RQGHG'HEW2XWVWDQGLQJ
/DVW7HQ)LVFDO<HDUV

LQGROODUV

)LVFDO<HDU
(QGHG-XQH

&LW\+DOO
/HDVH
2EOLJDWLRQ
/RFDO$JHQF\
%RQGV
7D[
$OORFDWLRQ
%RQGV 7RWDO
3HUFHQWRI
$VVHVVHG
9DOXH

3HU0HGLDQ
+RXVHKROG
,QFRPH

2XWVWDQGLQJ*HQHUDO%RQGHG'HEW

1RWHV

*HQHUDOERQGHGGHEW LVGHEWSD\DEOHZLWKJRYHUQPHQWDOIXQGUHVRXUFHVDQGJHQHUDOREOLJDWLRQERQGVUHFRUGHGLQ HQWHUSULVHIXQGV
RIZKLFKWKH&LW\KDVQRQH

$VVHVVHGYDOXHKDVEHHQXVHGEHFDXVHWKHDFWXDOYDOXHRIWD[DEOHSURSHUW\LVQRWUHDGLO\DYDLODEOHLQWKH6WDWHRI &DOLIRUQLD
Ϭ͘ϬϬй
Ϭ͘ϱϬй
ϭ͘ϬϬй
ϭ͘ϱϬй
Ϯ͘ϬϬй
Ϯ͘ϱϬй
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
Ϭ͘Ϭϰй Ϭ͘Ϭϯй Ϭ͘Ϭϯй Ϭ͘ϬϮй Ϭ͘ϬϮй Ϭ͘Ϭϭй Ϭ͘Ϭϭй Ϭ͘ϬϬй Ϭ͘ϬϬй Ϭ͘ϬϬй *HQHUDO%RQGHG'HEWDVD3HUFHQWRI$VVHVVHG9DOXH
504
149
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
'LUHFWDQG2YHUODSSLQJ'HEW
-XQH

LQGROODUV

7RWDO$VVHVVHG9DOXDWLRQ

2YHUODSSLQJ'HEW

7RWDO2YHUODSSLQJ*HQHUDO)XQG'HEW

2YHUODSSLQJ7D[,QFUHPHQW'HEW
6XFFHVVRU$JHQFLHV

7RWDO2YHUODSSLQJ7D[,QFUHPHQW'HEW
7RWDO*URVV2YHUODSSLQJ'HEW

/HVV
5LYHUVLGH&RXQW\6XSSRUWHG2EOLJDWLRQV 7RWDO1HW2YHUODSSLQJ'HEW

(VWLPDWHG6KDUHRI
2YHUODSSLQJ'HEW
2XWVWDQGLQJ'HEW

3HUFHQWDJH
$SSOLFDEOH

2YHUODSSLQJ7D[DQG$VVHVVPHQW'HEW
'HVHUW&RPPXQLW\&ROOHJH'LVWULFW
&RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW
'HVHUW6DQGV8QLILHG6FKRRO'LVWULFW
'686'

7RWDO2YHUODSSLQJ7D[DQG$VVHVVPHQW'HEW
2YHUODSSLQJ*HQHUDO)XQG'HEW
5LYHUVLGH&RXQW\*HQHUDO)XQG2EOLJDWLRQV
5LYHUVLGH&RXQW\3HQVLRQ2EOLJDWLRQV
&RDFKHOOD9DOOH\8QLILHG6FKRRO'LVWULFW&HUWLILFDWHVRI3DUWLFLSDWLRQ &23

'LUHFW*HQHUDO)XQG'HEW
7RWDO'LUHFW*HQHUDO)XQG'HEW
'686'&RPPXQLW\)DFLOLWLHV'LVWULFW1R
7RWDO1HW&RPELQHG'LUHFWDQG2YHUODSSLQJ'HEW
&RDFKHOOD9DOOH\:DWHU'LVWULFW$VVHVVPHQW'LVWULFWV
&LW\RI/D4XLQWD*HQHUDO)XQG2EOLJDWLRQV
'HVHUW6DQGV8QLILHG6FKRRO'LVWULFW&23
1RWHV

7RWDODVVHVVHGYDOXDWLRQLVIURPWKH(TXDOL]HG$VVHVVRUUHSRUWZKLFKLQFOXGHVKRPHRZQHUH[HPSWLRQV

)RUGHEWUHSDLGZLWKSURSHUW\WD[HVWKHSHUFHQWDJHRIRYHUODSSLQJGHEWDSSOLFDEOHLVHVWLPDWHGXVLQJWD[DEOHDVVHVVHGSURSHUW\ YDOXHV$SSOLFDEOHSHUFHQWDJHV ZHUHHVWLPDWHGE\GHWHUPLQLQJWKHSRUWLRQRIWKHRYHUODSSLQJGLVWULFW V WD[DEOHDVVHVVHGYDOXHWKDWLVZLWKLQWKHFLW\
VERXQGDULHVGLYLGHGE\WKHGLVWULFW
VWRWDO
WD[DEOHDVVHVVHGYDOXH

2YHUODSSLQJJRYHUQPHQWVDUHWKRVHWKDWFRLQFLGHDWOHDVWLQSDUWZLWKWKHJHRJUDSKLFERXQGDULHVRIWKH&LW\7KLVVFKHGXOH HVWLPDWHVWKHSRUWLRQRIWKH RXWVWDQGLQJGHEWRIWKRVHRYHUODSSLQJJRYHUQPHQWVWKDWLVERUQHE\WKHUHVLGHQWVDQGEXVLQHVVHVRIWKH&LW\7KLVSURFHVVUHFRJQL]HVWKDWZKHQFRQVLGHULQJWKH &LW\
VDELOLW\WRLVVXHDQGUHSD\ORQJWHUPGHEWWKHHQWLUHGHEWEXUGHQERUQHE\WKHUHVLGHQWVDQGEXVLQHVVHVVKRXOGEHWDNHQLQWRDFFRXQW+RZHYHU WKLVGRHV QRWLPSO\WKDWHYHU\WD[SD\HULVDUHVLGHQWDQGWKHUHIRUHUHVSRQVLEOHIRUUHSD\LQJWKHGHEWRIHDFKRYHUODSSLQJJRYHUQPHQW 505
150
CLICK HERE to Return to Agenda
&,7<2)/$48,17$
/HJDO'HEW0DUJLQ,QIRUPDWLRQ
/DVW7HQ)LVFDO<HDUV

LQGROODUV

$VVHVVHGYDOXDWLRQ

&RQYHUVLRQ3HUFHQWDJH
$GMXVWHGDVVHVVHGYDOXDWLRQ

'HEWOLPLWSHUFHQWDJH

'HEWOLPLW

/HJDOGHEWPDUJLQ

7RWDOGHEWDSSOLFDEOHWRWKH
OLPLWDVDSHUFHQWDJHRIGHEW
OLPLW
*HQHUDOREOLJDWLRQERQGV

7RWDOQHWGHEWDSSOLFDEOHWROLPLW
)LVFDO<HDU
1RWHV

$VVHVVHG9DOXDWLRQLVIURPWKH(TXDOL]HG$XGLWRU
V 1HWUHSRUWZKLFKH[FOXGHVWKHKRPHRZQHUH[HPSWLRQV

6HFWLRQRIWKH*RYHUQPHQW&RGHRIWKH6WDWHRI&DOLIRUQLDOLPLWVWKHDPRXQWRILQGHEWHGQHVVIRUSXEOLFLPSURYHPHQWVWR RIWKH JURVV DVVHVVHGYDOXDWLRQ RUSURSHUW\+RZHYHUWKLVSURYLVLRQZDVHQDFWHGZKHQDVVHVVHGYDOXDWLRQZDVEDVHGRQ RIPDUNHWYDOXH(IIHFWLYHZLWKWKH
ILVFDO\HDUHDFKSDUFHOLVQRZDVVHVVHGDWRIPDUNHWYDOXH DVRIWKHPRVW
UHFHQWFKDQJHLQRZQHUVKLSIRUWKDWSDUFHO
7KHFRPSXWDWLRQVVKRZQDERYHUHIOHFWDFRQYHUVLRQRIDVVHVVHGYDOXDWLRQGDWDIRU HDFKILVFDO\HDUIURPWKHFXUUHQWIXOOYDOXDWLRQSHUVSHFWLYHWRWKHOHYHOWKDWZDVLQHIIHFWDWWKHWLPHWKDWWKHOHJDOGHEW PDUJLQZDVHQDFWHGE\WKH6WDWH7KLVLVWKHHTXLYDOHQWRIRIWKHIXOODVVHVVHGYDOXH

7KH&LW\RI/D4XLQWDKDVQRJHQHUDOERQGHGLQGHEWHGQHVV 506
151
CLICK HERE to Return to Agenda
7$%/(

$VVHVVHGYDOXDWLRQ

'HEWOLPLWSHUFHQWDJH

'HEWOLPLW
7RWDOQHWGHEWDSSOLFDEOHWR
OLPLW
*HQHUDOREOLJDWLRQERQGV

/HJDOGHEWPDUJLQ

7RWDOGHEWDSSOLFDEOHWR
WKHOLPLWDVDSHUFHQWDJH
RIGHEWOLPLW
507
152
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
3OHGJHG5HYHQXH&RYHUDJH

/DVW7HQ)LVFDO<HDUV

LQGROODUV

3ULQFLSDO ,QWHUHVW

'HEW6HUYLFH /HVV2WKHU
'HEW
3D\PHQWV
1HW/HDVH
5HYHQXH
)LVFDO<HDU
(QGHG-XQH

&RYHUDJH
5DWLR

/RFDO$JHQF\5HYHQXH%RQGV
&LW\+DOO3URMHFW

/HDVH
5HYHQXH

1RWHV

'HWDLOVUHJDUGLQJWKHFLW\
VRXWVWDQGLQJGHEWFDQEHIRXQGLQWKHQRWHVWRWKHILQDQFLDOVWDWHPHQWV7KH&LW\RI /D4XLQWDKDVQRJHQHUDOERQGHGLQGHEWHGQHVV

/HDVHUHYHQXHVFRQVLVWRI SD\PHQWVIURPWKH&LW\*HQHUDO)XQGDQG&LYLF&HQWHU'HYHORSPHQW,PSDFW)HH )XQG

&RYHUDJHUDWLR LVDPHDVXUHRIWKH&LW\
VDELOLW\WRPHHWLWVREOLJDWLRQ$UDWLRRIJUHDWHUWKDQRUHTXDOWRRQH LQGLFDWHVWKDWVXIILFLHQWUHYHQXHKDVEHHQJHQHUDWHGWRVDWLVI\WKHGHEWVHUYLFHUHTXLUHPHQWV7KHUDWLRLV FDOFXODWHG DVWRWDODYDLODEOHUHYHQXH
QHWOHDVHUHYHQXH
GLYLGHGE\WRWDOGHEWVHUYLFHUHTXLUHPHQWV
SULQFLSDODQG

LQWHUHVW

508
153
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(

'HPRJUDSKLFDQG(FRQRPLF6WDWLVWLFV
/DVW7HQ&DOHQGDU<HDUV
6RXUFHV

0HGLDQDJH

&DOHQGDU<HDU
Mean Household Income (in dollars)
Number of Dwelling Units
3HUVRQVSHU+RXVHKROG
/DERU)RUFH
3HU&DSLWD,QFRPH
(PSOR\PHQW
City Land (Sq Miles)
Population
8QHPSOR\PHQW5DWH
6RXUFHV

6WDWH RI&DOLIRUQLD'HSDUWPHQWRI)LQDQFH
6WDWHRI&DOLIRUQLD'HSDUWPHQWRI)LQDQFH(DQG (3RSXODWLRQDQG+RXVLQJ(VWLPDWHVIRU&LWLHV&RXQWLHVDQGWKH6WDWH 6DFUDPHQWR&DOLIRUQLDUHOHDVHG0D\'DWDIRU DOO\HDUVXSGDWHGWRPDWFKFXUUHQW'2)QXPEHUV

6WDWHRI&DOLIRUQLD(PSOR\PHQW'HYHORSPHQW'HSDUWPHQW:HEVLWH3UHYLRXV\HDUV GDWDXSGDWHGLQ
WRXWLOL]HPRQWKDYHUDJHDQGILQDOQXPEHUV5LVHLQ DYHUDJHXQHPSOR\PHQWUDWHIRU
ZDVGXHWRGRXEOHGLJLWXQHPSOR\PHQWDWHQGRIILVFDO\HDUGXHWRWKH&RURQDYLUXVSDQGHPLF

+G/&RUHQ &RQH

0HDQ+RXVHKROG,QFRPHIURP86&HQVXV%XUHDXUHSRUW7DEOH6 3UHYLRXVO\FDOFXODWHGXVLQJ3HUVRQVSHU+RXVHKROGPXOLWSOLHGE\3HU&DSLWD,QFRPH6WDUWLQJLQ GDWDLVIURPWKH86&HQVXV%XUHDX$PHULFDQ)DFW)LQGHU Ϯϯ͕ϱϴϱ
Ϯϯ͕ϲϭϮ
Ϯϯ͕ϴϳϭ
Ϯϰ͕ϭϱϬ
Ϯϰ͕ϰϯϮ
Ϯϰ͕ϱϰϰ
Ϯϰ͕ϲϰϯ
Ϯϰ͕ϳϲϰ
Ϯϰ͕ϵϱϳ
Ϯϱ͕ϭϳϳ
ϭϳ͕ϬϬϬ
ϭϵ͕ϱϬϬ
ϮϮ͕ϬϬϬ
Ϯϰ͕ϱϬϬ
Ϯϳ͕ϬϬϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
EƵŵďĞƌŽĨǁĞůůŝŶŐhŶŝƚƐ
Ϭ͘ϬϬй ϭ͘ϬϬй Ϯ͘ϬϬй ϯ͘ϬϬй ϰ͘ϬϬй ϱ͘ϬϬй ϲ͘ϬϬй ϳ͘ϬϬй ϴ͘ϬϬй ϵ͘ϬϬй ϮϬϭϮ
ϮϬϭϯ
ϮϬϭϰ
ϮϬϭϱ
ϮϬϭϲ
ϮϬϭϳ
ϮϬϭϴ
ϮϬϭϵ
ϮϬϮϬ
ϮϬϮϭ
8QHPSOR\PHQW5DWH
ΨϬ
ΨϮϬ͕ϬϬϬ
ΨϰϬ͕ϬϬϬ
ΨϲϬ͕ϬϬϬ
ΨϴϬ͕ϬϬϬ
ΨϭϬϬ͕ϬϬϬ
ΨϭϮϬ͕ϬϬϬ
ΨϭϰϬ͕ϬϬϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
0HDQ+RXVHKROG,QFRPH
Ϭ͘ϬϬй
ϭ͘ϬϬй
Ϯ͘ϬϬй
ϯ͘ϬϬй
ϰ͘ϬϬй
ϱ͘ϬϬй
ϲ͘ϬϬй
ϳ͘ϬϬй
ϴ͘ϬϬй
ϵ͘ϬϬй
ΨϬ
ΨϭϬ͕ϬϬϬ
ΨϮϬ͕ϬϬϬ
ΨϯϬ͕ϬϬϬ
ΨϰϬ͕ϬϬϬ
ΨϱϬ͕ϬϬϬ
ΨϲϬ͕ϬϬϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ
3HU&DSLWD,QFRPHDQG8QHPSOR\PHQW
WĞƌĂƉŝƚĂ/ŶĐŽŵĞ hŶĞŵƉůŽǇŵĞŶƚZĂƚĞ
509
154
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
3ULQFLSDO(PSOR\HUV
&XUUHQW<HDUDQG7HQ<HDUV$JR
$FWLYLW\
1XPEHURI
(PSOR\HHV
3HUFHQWRI
7RWDO
(PSOR\PHQW 5DQN
1XPEHURI
(PSOR\HHV
3HUFHQWRI
7RWDO
(PSOR\PHQW
*RYHUQPHQW

+RWHO *ROI5HVRUW

5HWDLOHU
5HWDLOHU

5HWDLOHU
5HWDLOHU

8WLOLW\&RPSDQ\
5HWDLOHU

9RQV *URFHU\6WRUH

*URFHU\6WRUH

)DVW)RRG
*ROI5HVRUW

+LGHDZD\ *ROI5HVRUW

7UDGLWLRQ*ROI&OXE *ROI5HVRUW

&LW\RI/D4XLQWD *RYHUQPHQW

7RWDOHPSOR\PHQWOLVWHG

7RWDO&LW\(PSOR\PHQW-XO\

5DQFKR/D4XLQWD
+RPH'HSRW
&RVWFR
7DUJHW
,Q12XW
6WDWHU%URV
,PSHULDO,UULJDWLRQ'LVWULFW
/RZH
V+RPH,PSURYHPHQW
'HVHUW6DQGV8QLILHG6FKRRO'LVWULFW
:DO0DUW6XSHU&HQWHU
/D4XLQWD5HVRUW &OXE3*$:HVW

)LVFDO<HDU
(PSOR\HU
)LVFDO<HDU
1RWHV

/D4XLQWD5HVRUW &OXEDQG3*$:HVWDUHDFFRXQWHGIRUDVRQHHQWLW\ DVVXFKWKHLUHPSOR\PHQWQXPEHUVDUHUHSRUWHGWRJHWKHU DV RI)<
6RXUFH
&LW\RI/D4XLQWD
510
155
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
)XOOWLPH&LW$PSOR\HHV
E$XQFWLRQ
/DVW7HQ)LVFDO<HDUV

7RWDO

)DFLOLWLHV
F

)LQDQFH
&RPPXQLW\6HUYLFHV
'HVLJQDQG'HYHORSPHQW
E

&RPPXQLW\5HVRXUFHV
D

3ODQQLQJDQG'HYHORSPHQW
&RPPXQLW\'HYHORSPHQW
3XEOLF:RUNV
$GPLQLVWUDWLRQ&LW\0JU2IILFH
&LW\&OHUN
)XQFWLRQ
%XLOGLQJDQG6DIHW\
)LVFDO<HDU
EŽƚĞƐ͗
7KH&LW\RI/D4XLQWDFRQWUDFWVZLWKWKH&RXQW\RI5LYHUVLGHIRU3ROLFH6HUYLFHVDQGZLWKWKH&DOLIRUQLD'HSDUWPHQWRI)RUHVWU\WKURXJKDFRQWUDFWZLWKWKH&RXQW\RI5LYHUVLGHIRU )LUH6HUYLFHV,QDGGLWLRQWKH&LW\RZQHG*ROI&RXUVHLVRSHUDWHGE\/DQGPDUN*ROI7KHVHSRVLWLRQVKDYHQRWEHHQLQFOXGHGDVWKHVHSRVLWLRQVDUHQRW&LW\HPSOR\HHV

7KH&LW\PHUJHGWKH%XLOGLQJDQG6DIHW\'HSDUWPHQWZLWKWKH3ODQQLQJDQG'HYHORSPHQW'HSDUWPHQWLQ7KHUHVXOWDQWGHSDUWPHQWZDVUHIHUUHGWRDV&RPPXQLW\ 'HYHORSPHQWXQWLOVHHEHORZ

'XULQJ)<WKH&LW\ZDVVXEMHFWWRDPDMRUUHRUJDQL]DWLRQLQDQDWWHPSWWRLPSURYHHIILFLHQF\DQGFRQWUROVWKDWHIIHFWLYHO\WHUPLQDWHGWKH&RPPXQLW\6HUYLFHV &RPPXQLW\'HYHORSPHQWDQG3XEOLF:RUNVGHSDUWPHQWV)ROORZLQJLVDEULHIGHVFULSWLRQRIWKHUHRUJDQL]DWLRQIRUHDFKGHSDUWPHQW

D
7KH&RPPXQLW\5HVRXUFHVGHSDUWPHQWKDVWDNHQRYHUVSHFLILFUROHVRIWKHSULRU&RPPXQLW\'HYHORSPHQWDQG&RPPXQLW\6HUYLFHVGHSDUWPHQWVLQFOXGLQJEXWQRWOLPLWHGWR KXPDQUHVRXUFHVSROLFHILUHOLEUDU\PXVHXPUHFUHDWLRQPDUNHWLQJFRGHFRPSOLDQFHDQLPDOFRQWURODQGHPHUJHQF\VHUYLFHV E
7KH'HVLJQDQG'HYHORSPHQWGHSDUWPHQWKDVWDNHQRYHUVSHFLILFUROHVRIWKHSULRU&RPPXQLW\'HYHORSPHQW3XEOLF:RUNVDQG)LQDQFHGHSDUWPHQWVLQFOXGLQJEXWQRWOLPLWHG WRFXVWRPHUVHUYLFHEXVLQHVVDQGDQLPDOOLFHQVLQJSODQQLQJEXLOGLQJHQJLQHHULQJVHUYLFHVDQGGHYHORSPHQWVHUYLFHV F
7KH)DFLOLWLHVGHSDUWPHQWKDVWDNHQRYHUVSHFLILFUROHVRIWKHSULRU&RPPXQLW\6HUYLFHVDQG3XEOLF:RUNVGHSDUWPHQWVLQFOXGLQJEXWQRWOLPLWHGWRSDUNVVWUHHWVEXLOGLQJV OLJKWLQJDQGODQGVFDSLQJ

'XULQJWKH)<WKH&LW\FUHDWHGWKH3XEOLF:RUNV'LYLVLRQFRQVLVWLQJRIWKH)DFLOLWLHV'LYLVLRQDVZHOO DV3XEOLF:RUNV(QJLQHHULQJDQG&DSLWDO,PSURYHPHQW ZKLFKZHUH
PRYHGRXWRI'HVLJQ 'HYHORSPHQW
,QDGGLWLRQWKHUHZHUHLPSDFWVGXHWRWKHQRYHO&RURQDYLUXVSDQGHPLFWKDWOHGWRDUHGXFWLRQLQZRUNIRUFH Ͳ
ϭϬ͘ϬϬ
ϮϬ͘ϬϬ
ϯϬ͘ϬϬ
ϰϬ͘ϬϬ
ϱϬ͘ϬϬ
ϲϬ͘ϬϬ
ϳϬ͘ϬϬ
ϴϬ͘ϬϬ
ϵϬ͘ϬϬ
ϭϬϬ͘ϬϬ
ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ;ϭͿ ϮϬϭϱ ϮϬϭϲ;ϮͿ ϮϬϭϳ ϮϬϭϴ ϮϬϭϵ ϮϬϮϬ ϮϬϮϭ;ϯͿ ϴϵ͘ϬϬ ϴϴ͘ϬϬ
ϳϬ͘ϬϬ ϳϮ͘ϬϬ
ϳϴ͘ϬϬ ϳϴ͘ϬϬ
ϴϰ͘ϬϬ
ϴϵ͘ϬϬ
ϵϱ͘ϬϬ
ϴϱ͘ϬϬ
dŽƚĂů&ƵůůͲdŝŵĞŝƚǇ
ŵƉůŽǇĞĞƐ
511
156
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
2SHUDWLQJ,QGLFDWRUV
E\)XQFWLRQ
/DVW7HQ)LVFDO<HDUV

)LQDQFH

1XPEHURI$QLPDO/LFHQVHV3URFHVVHG

1XPEHURI$FFRXQWV3D\DEOH&KHFNV3URFHVVHG

1XPEHURILQYHVWPHQWSXUFKDVHV
3DUYDOXHRILQYHVWPHQWV

1XPEHURIFOHDUHGFKHFNV

1XPEHURIEDQNZLUHVGUDIWVDQG()7V

&LW\&OHUN

&RQWUDFWV3URFHVVHG

'RFXPHQWV1RWDUL]HG

'RFXPHQWV5HFRUGHGZLWK&RXQW\
6XESRHQDVDQG&ODLPV3URFHVVHG 5HFRUGV5HTXHVWV)XOILOOHGDQG5HFRUGHG 'RFXPHQWV6FDQQHGWR(OHFWURQLF$UFKLYHV

3XEOLF:RUNV

(QFURDFKPHQWSHUPLWVLVVXHG

5HTXHVWIRUVHUYLFHV

&RPPXQLW\'HYHORSPHQW

1XPEHURI$FWLYH%XVLQHVV/LFHQVHV

3HUPLWV

6LQJOHIDPLO\'HWDFKHG

6LQJOHIDPLO\$WWDFKHG 5HVLGHQWLDO3RRO :DOO)HQFH

2WKHU

*DUDJH6DOH3HUPLWV

7RWDO3HUPLWV

&RGH&RPSOLDQFH

$QLPDO&RQWURO,QFLGHQWV+DQGOHG

9HKLFOHDEDWHPHQWV

:HHGDEDWHPHQWV
1XLVDQFHDEDWHPHQWV3URSHUW\0DLQWHQDQFH
$OO2WKHU

&RPPXQLW\6HUYLFHV

/LEUDU\DFWLYLWLHV

1XPEHURI9LVLWV

%RRNVFKHFNHGRXW

&DUGV,VVXHG

1XPEHURI6FKRRO&KLOGUHQ9LVLWLQJ

9ROXQWHHU+RXUV

6HQLRU&HQWHU:HOOQHVV&HQWHU

1XPEHURIYLVLWV

9ROXQWHHU+RXUV

5HFUHDWLRQDFWLYLWLHV

3DUWLFLSDQWV

/HLVXUH&ODVVHV

6SHFLDOHYHQWV

$GXOW6SRUWV

*ROIFRXUVH

*ROIURXQGVSOD\HG

$YHUDJH*UHHQIHH
3ODQQLQJDQG'HYHORSPHQW

1XPEHURIUHVLGHQWLDOXQLWVDSSURYHG

&RPPHUFLDOVTXDUHIRRWDJHDSSURYHG

)LVFDO<HDU
1RWHV

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
$OO2WKHUFDWHJRU\LQFOXGHVEXLOGLQJFRGHVEXVLQHVVOLFHQVHFRPPHUFLDOKD]DUGRXVFRQGLWLRQVKHDOWKVDIHW\RWKHUSDUNLQJYDFDWLRQUHQWDOVDQG]RQLQJ)RU GDWDZDVDQQXDOL]HGXVLQJWKHVHYHQPRQWKVRIDFWXDOWRWDOFORVHGLQFLGHQWVSURYLGHGE\*R(QIRUFH
'HFOLQHV LQWKHUHSRUWHGQXPEHUVIRUWKH/LEUDU\:HOOQHVV&HQWHUDQGDQ\UHODWHGUHFUHDWLRQDODFWLYLWLHVDUHGXHWRIDFLOLW\FORVXUHVDQGUHVWULFWLRQVDVDUHVXOWRIWKH QRYHO&RURQDYLUXVSDQGHPLF)RU
6FKRRO&KLOGUHQ9LVLWLQJ
WKHOLEUDU\LQFOXGHVYLUWXDOVWRU\WLPHDWWHQGDQFH

3UHYLRXVO\UHSRUWHGRQO\ZLUHVKDVEHHQXSGDWHGWRLQFOXGHDOOIRUPVRIHOHFWURQLFSD\PHQWW\SHV 512
157
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
&DSLWDO$VVHW6WDWLVWLFV
E\)XQFWLRQ
/DVW7HQ)LVFDO<HDUV

3XEOLF:RUNV

3DUNVDQG5HFUHDWLRQ

3DUNV

3XEOLF6DIHW\

)LUH6WDWLRQV *ROI&RXUVH

)LVFDO<HDU
%LNHSDWKV
PLOHV

6WUHHWV
PLOHV

6HQLRU:HOOQHVV&HQWHU
0XVHXP
/LEUDU\
0XQLFLSDOJROIFRXUVHV
8QGHYHORSHG3DUN$FUHDJ
3DUN$FUHDJH
7UDIILFVLJQDOV
7UDIILFVLJQV
%ULGJHV
6WUHHWOLJKWV

+LNLQJ7UDLOV
PLOHV

&LW\2ZQHG$FUHV

&LW\,PSURYHG$FUHV

1RWHV

%LNHSDWKPLOHVZHUHXSGDWHGWRLQFOXGHERWK&ODVV,
RIIVWUHHW
DQG&ODVV,,
RQVWUHHWSDLQWHGELNHODQHV
ELF\FOHSDWKVLQ

WKH&LW\KDVEHHQDGGLQJ&ODVV,,WKURXJKYDULRXVSURMHFWVDQGWKHQXPEHUKDVEHHQXSGDWHGDFFRUGLQJO\
,QILVFDO\HDUHQGLQJ
VWUHHW OLJKWVDWLQWHUVHFWLRQVZHUHLQFOXGHGIRUWKHILUVWWLPH$GGLWLRQDOO\WKHGHFRUDWLYHVWUHHWOLJKWV LQ2OG7RZQZHUHDGGHGIRUWKHILUVWWLPHLQ

,QILVFDO\HDU
WKH&LW\DGGHGRQHSXEOLFSDUNWKH6LOYHU5RFN(YHQW6LWH,QWKH&LW\DOLJQHGUHSRUWLQJZLWKWKH 'HYHORSPHQWDO,PSDFW)HH6WXG\IURP$XJXVW
ZKLFKLGHQWLILHVSDUNVDV
&LW\2ZQHG
DQG
&LW\,PSURYHG
E\DFUHDJHLQ
7DEOH
6RXUFH
&LW\RI/D4XLQWD
513
158
CLICK HERE to Return to Agenda
&,7<2)/$48,17$ 7$%/(
6FKHGXOHRI,QVXUDQFHLQ)RUFH
-XQH
&RPSDQ\1DPH 3ROLF\1XPEHU &RYHUDJH /LPLWV 7HUP 3UHPLXP 1DWLRQDO8QLRQ)LUH,QVXUDQFH &ULPH)RUJHU\)UDXG 0LOOLRQ $OOLDQW
&DOLIRUQLD 6HOI,QVXUHG $OO5LVN3URSHUW\,QVXUDQFH 0LOOLRQ

-RLQW3RZHUV 3RRO ,QFOXGLQJ$XWR3K\VLFDO'DPDJH 6LQJOH/LPLWSHU2FFXUUHQFH ,QVXUDQFH$XWKRULW\ 7HUURULVP%RLOHU 0DFKLQHU\ VXEMHFWWRRWKHUVXEOLPLWV 1)33URSHUW\ &DVXDOW\ :'
(DUWKTXDNH 0LOOLRQ WR /OR\GV%HD]OH\)XUORJH/LPLWHG 5HDO 3HUVRQDO3URSHUW\ QFOXGLQJ&RQWLQJHQW7D[,QWHUUXSWLRQ
&DOLIRUQLD 6HOI,QVXUHG &RPSUHKHQVLYH*HQHUDO 0LOOLRQ
-RLQW3RZHUV 3RRO DQG$XWRPRELOH/LDELOLW\ 6LQJOH/LPLWSHU2FFXUUHQFH ,QVXUDQFH$XWKRULW\
&DOLIRUQLD 6HOI,QVXUHG :RUNHUV
&RPSHQVDWLRQ 0LOOLRQ

-RLQW3RZHUV 3RRO SHURFFXUUHQFH
,QVXUDQFH$XWKRULW\
6RXUFH
&LW\RI /D4XLQWD
514
159
CLICK HERE to Return to Agenda
City of La Quinta
CITY COUNCIL MEETING: July 19, 2022

STAFF REPORT
AGENDA TITLE: INTRODUCE FOR FIRST READING ORDINANCES
APPROVING ZONE CHANGE 2022-0001, ADDING THE AFFORDABLE HOUSING

OVERLAY (AHO) TO SPECIFIC PARCELS IDENTIFIED IN THE HOUSING ELEMENT; AND ZONING ORDINANCE AMENDMENT 2022-0001, MAKING TEXT

AMENDMENTS NECESSARY FOR CONSISTENCY WITH THE HOUSING
ELEMENT. CEQA: REQUEST HAS BEEN PREVIOUSLY ANALYZED AS PART OF ENVIRONMENTAL ASSESSMENT 2021-0010. LOCATION: CITY-WIDE

RECOMMENDATION
A. Move to take up an ordinance by title and number only and waive further reading, approving Zone Change 2022-0001.

B. Move to introduce an ordinance to approve ZC 2022-0001.

C. Move to take up an ordinance by title and number only and waive further reading, approving Zoning Ordinance Amendment 2022-0001.

D. Move to introduce an ordinance to approve ZOA 2022-0001.

EXECUTIVE SUMMARY
• The Planning Commission unanimously recommended approval of both the Zone Change and the Zoning Ordinance Amendment at their meeting of June 14, 2022.
• The City Council adopted the 6th Cycle Housing Element Update for the 2021-2029 planning period on February 15, 2022.
• Policies and programs require amendments to the Zoning Map and Zoning Ordinance, in order to assure consistency with the Housing Element Update.
• Map amendments are associated with the application of the Affordable Housing Overlay (AHO) to specific parcels shown in the Affordable Housing Inventory of the Housing Element.

PUBLIC HEARING ITEM NO. 1
515 CLICK HERE to Return to Agenda
• Text amendments are associated with a number of issues, including but not limited to changes in State law, changes to allow increased density in the AHO, and updates to Density Bonus and Accessory Dwelling Unit provisions.

FISCAL IMPACT – None.

BACKGROUND/ANALYSIS
The Housing Element included a number of policies and programs that require changes to the Zoning Map and Zoning Code in order to assure consistency with the Element and State law. The Goals, Policies and Programs are provided in Attachment 1 for reference. The text amendments are provided in Attachment 2. Each is described individually below.

Zoning Map
The Housing Element’s Program 3.1.a requires that the AHO be applied to all properties identified in the Affordable Housing Inventory (Exhibit A of the Zone Change Ordinance) for lower income households. In the past, the AHO overlay has been provided in text, but has not been mapped on the Zoning Map. As shown in Exhibit A of the Ordinance, the AHO would be added as a crosshatch pattern to all commercially zoned properties, and to non-commercial properties which are in the Inventory, to assure consistency. A parallel text amendment to the AHO is also proposed, and described below.

Zoning Text Amendments
The Zoning text amendments address a number of issues which are covered in the Housing Element. All changes are provided in Attachment 2 in track changes, and in final form as Exhibit A of the Zoning Code Amendment Ordinance.

Accessory Dwelling Units
Updates to the Accessory Dwelling Unit and Junior Accessory Dwelling Unit (together, ADU) provisions have been made to bring them into conformance with State law and Program H-2.1.a. The changes have been made to Section

9.60.090 of the Municipal Code and include allowances for ADUs in all zones that allow residential development and modifications to the development standards. The changes are consistent with the standards permitted by State law, which provide for reduced setbacks and parking ratios.

Density Bonus
Updates to the Density Bonus provisions to bring them into conformance with State law and Program H-2.2.a. The changes have been made to Section 516 CLICK HERE to Return to Agenda

9.60.260 of the Municipal Code. The last update of these provisions was in 2016, and since that time, State law has changed to increase the allowed density bonus for affordable housing units, from a 35% increase to a 50% increase over base density. In addition, the types of affordable housing projects have been broadened, to include student housing, and housing near major transit stops. Although neither of these is likely in the immediate future in La Quinta, the standards have been added to assure that if such a project were to occur, the City would have the ability to regulate it under law.

Affordable Housing Overlay
In addition to the Zoning Map amendment described above, the development standards for the AHO have been modified in Section 9.110.100 of the Municipal Code. These amendments include specifying a density range of 20 to 36 units per acre, and adding language required by Government Code Section 65583.2(h)(i) which provides that the density of lower income projects must be 20 units per acre, that these projects with at least 20% of the units affordable to low, very low or extremely low income households must be permitted by right (not requiring a Conditional Use Permit), and must have 16 units per site, consistent with Government Code. In addition, setbacks have been reduced to assure that the allowed densities could be constructed. The AHO is proposed for commercial parcels, particularly within the Highway 111 Corridor, as well as City-owned parcels in the Village.

Program 3.1.a also requires an analysis of the feasibility of the AHO development standards to facilitate affordable housing. That analysis was provided to the Planning Commission, and demonstrated that a density of 30 units per acre is physically possible and feasible with the City’s zoning standards.

Special Needs Housing
The Housing Element also requires that changes be made to allow several specific types of housing, including transitional and supportive housing, as permitted uses in zones where similar uses are permitted by right. Table 9.1, Permitted Uses in Residential Districts has been amended to allow them as permitted uses in Medium, Medium High and High Density Residential zones, consistent with Program H-5.4.b.

Table 9.5, Permitted Uses in Non-Residential Districts, allows Emergency Shelters, but was silent on homeless shelters and a new use called “Low Barrier Navigation Centers.” The latter is a center which provides, not only shelter, but additional services required to find permanent housing for residents. Both have been added to Table 9.5 and in conjunction with additions made to development standards in Section 9.100.280 of the Municipal Code are consistent with Programs H-5.4.a and H-5.4.b. In addition, a parking 517 CLICK HERE to Return to Agenda
standard has been added for homeless shelters, requiring one space per employee, consistent with Government Code Section 65583(a)(4)(A)(ii).

Other Changes
Other changes are included in the text amendments:

1. Allowing mobile or manufactured homes on single family lots, subject to the same standards as other single family homes (Section 9.60.180), consistent with Government Code Section 65583.

2. Additions to the definitions (Section 9.280.030) to address the text amendments above.

AGENCY AND PUBLIC REVIEW
Public Notice
This project was advertised in The Desert Sun newspaper on July 8, 2022. No written comments have been received as of the date of this writing. Any written comments received will be handed out at the City Council meeting.

Planning Commission Review
At its regular meeting of June 14, 2022, the Planning Commission unanimously voted to recommended Council approval of the proposed Zone Change and Zoning Ordinance Amendment.

ENVIRONMENTAL REVIEW
The City prepared an Initial Study for the Housing and Safety Element updates, and circulated it for public review from October 29 to November 17, 2021. The changes proposed to the Zoning Map and Zoning Ordinance are entirely consistent with the Housing Element, and their impacts have therefore been studied previously, and require no further review under CEQA Prepared by: Danny Castro, Design and Development Director Approved by: Jon McMillen, City Manager
Attachments: 1. Housing Element Goals, Policies and Programs

2. Zoning Ordinance Amendments in track changes
518 CLICK HERE to Return to Agenda
ORDINANCE NO. ___

AN ORDINANCE OF THE CITY COUNCIL OF THE

CITY OF LA QUINTA, CALIFORNIA, AMENDING

THE ZONING MAP CITY-WIDE TO ADD THE

AFFORDABLE HOUSING OVERLAY (AHO) TO ALL

COMMERCIALLY ZONED PARCELS AND ALL

PARCELS INCLUDED IN THE SITES INVENTORY
OF THE CITY’S HOUSING ELEMENT
CASE NUMBER: ZONE CHANGE 2022-0001
APPLICANT: CITY OF LA QUINTA
WHEREAS, the City Council of the City of La Quinta, California did, on July 19, 2022, hold a duly noticed Public Hearing, to consider an amendment to the Zoning Map to apply the Affordable Housing Overlay (AHO) to all commercially zoned parcels and all parcels included in the Sites Inventory of the 2022 Housing Element update; and,
WHEREAS, the Design and Development Department published a public hearing notice in The Desert Sun newspaper on July 8, 2022 as prescribed by the Municipal Code; and,
WHEREAS, the Planning Commission of the City of La Quinta did adopt Planning Commission Resolution 2022-016 recommending City Council adoption of said Zone Change at a duly noticed Public Hearing on June 14, 2022; and
WHEREAS, said Zone Change has complied with the requirements of “The Rules to Implement the California Environmental Quality Act of 1970” (CEQA) as amended (Resolution 83-63). The City prepared an Environmental Assessment (EA 2021-0010) for the Housing Element update, and these Zoning map changes are entirely consistent with the Housing Element policies and were therefore analyzed in EA 2021-0010 and no further review is required; and
WHEREAS, at said Public Hearing, upon hearing and considering all testimony and arguments, if any, of all interested persons desiring to be heard, said City Council did make the following mandatory findings pursuant to Section 9.220.010 of the La Quinta Municipal Code to justify approval of said Zone Change [Exhibits A, B and C]:
519 CLICK HERE to Return to Agenda
Ordinance No. __
Zone Change 2022-0001
Project: Housing Element Zoning Map Amendments
Adopted:

Page 2 of 4 ends

La Quinta City CouncilAugust 2, 2022

La Quinta City Council
August 2, 2022