AGENDA
REGULAR CITY COUNCIL MEETING
COUNCIL CHAMBERS
5000 CLARK AVENUE
LAKEWOOD, CALIFORNIA
April 22, 2025
ADJOURNED MEETING: 6:00 p.m.
Discussion and Direction on Selection of Luminaries of Lakewood EXECUTIVE BOARD ROOM CALL TO ORDER 7:30 p.m.
INVOCATION: Reverend Dr. Paul Kim, Trinity United Methodist Church PLEDGE OF ALLEGIANCE: Scout Troop 70133
ROLL CALL: Mayor Todd Rogers
Vice Mayor Cassandra Chase
Council Member David Arellano
Council Member Steve Croft
Council Member Jeff Wood
ANNOUNCEMENTS AND PRESENTATIONS:
Presentation by Captain Dan Holguin, Lakewood Sheriff’s Station, Regarding Quarterly Public Safety Report
PUBLIC COMMENT ON ITEMS IN THE AGENDA
ROUTINE ITEMS:
All items listed within this section of the agenda are considered to be routine and will be enacted by one motion without separate discussion. Any Member of Council may request an item be removed for individual discussion or further explanation. All items removed shall be considered immediately following action on the remaining items.
RI-1 PERSONNEL TRANSACTIONS - It is recommended City Council approve report of personnel transactions.
RI-2 REGISTERS OF DEMANDS - It is recommended City Council approve registers of demands.
RI-3 MONTHLY REPORT OF INVESTMENT TRANSACTIONS - MARCH 2025 - It is recommended City Council receive and file the report.
RI-4 QUARTERLY SCHEDULE OF INVESTMENTS AS OF MARCH 31, 2025 - It is recommended City Council receive and file the report.
PUBLIC HEARINGS:
1.1 COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FIVE-YEAR CONSOLIDATED PLAN FOR FISCAL YEAR 2025-2029, ONE YEAR ACTION PLAN FOR FISCAL YEAR 2025-2026, AND ANALYSIS OF IMPEDIMENTS TO FAIR HOUSING CHOICE – It is recommended City Council continue this item to the meeting of June 10, 2025.
In compliance with the Americans with Disabilities Act, if you are a qualified individual with a disability and need an accommodation to participate in the City Council meeting, please contact the City Clerk’s Office, 5050 Clark Avenue, Lakewood, CA, at 562/866-9771, ext. 2200; or at [email protected] at least 48 hours in advance to ensure that reasonable arrangements can be made to provide accessibility to the meeting.
Agenda items are on file in the Office of the City Clerk, 5050 Clark Avenue, Lakewood, and are available for public review during regular business hours. Any supplemental material distributed after the posting of the agenda will be made available for public inspection during normal business hours in the City Clerk’s Office. For your convenience, the agenda and the supporting documents are available in an alternate format by request and are also posted on the City’s website at www.lakewoodcity.org City Council Agenda
April 22, 2025
REPORTS:
3.1 AGREEMENT WITH MNS ENGINEERS FOR PREPARATION OF THE GENERAL PLAN UPDATE, RESOLUTION NO. 2025-13 - It is recommended City Council adopt the proposed resolution.
3.2 QUARTERLY BUDGET REPORT OF MAJOR FUNDS AS OF MARCH 31, 2025 - It is recommended City Council receive and file the report.
3.3 PAN AM FIESTA PREVIEW - It is recommended City Council receive and file the report.
ORAL COMMUNICATIONS:
ADJOURNMENT
PFM Asset Management | pfmam.com
CITY OF LAKEWOOD
For the Quarter Ended March 31, 2025
Portfolio Snapshot
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.
The portfolio’s benchmark is currently the ICE BofA 1-5 Year U.S Treasury Index. Prior to 3/31/19 it was the ICE BofA 1-3 Year U.S Treasury Index. Source: Bloomberg Financial LP.
An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.
1. Portfolio Snapshot - CITY OF LAKEWOOD¹
Credit Quality - S&P
5%
28%
35%
23%
8% 5%
35%
27%
23%
11%
0%
10%
20%
30%
40%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 44%
Corporate | 22%
Agency CMBS | 18%
ABS | 11%
Negotiable CD | 3%
Municipal | 1%
Federal Agency | 1%
Sector Allocation
AAA | 10%
AA+ | 63%
AA | 1%
AA- | 5%
A+ | 10%
A | 4%
A- | 4%
BBB+ | 1%
Not Rated | 3%
Portfolio Statistics
Portfolio Effective Duration 2.51 years
Benchmark Effective Duration 2.48 years
Portfolio Credit Quality AA
Yield At Market 4.19%
Yield At Cost 4.22%
Total Market Value $41,749,813.99
Securities Sub-Total $41,413,915.45
Cash $80,344.48
Accrued Interest $255,554.06
14 PFM Asset Management | pfmam.com
CITY OF LAKEWOOD
For the Quarter Ended March 31, 2025
Account Summary
11.1%
22.3%
2.8%
1.3%
18.1%
0.7%
43.6%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
ABS - $4,610,769
Corporate - $9,299,471
Negotiable CD - $1,183,482
Municipal - $554,960
Agency CMBS - $7,547,198
Federal Agency - $297,648
U.S. Treasury - $18,175,942
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 15 CITY OF LAKEWOOD
For the Quarter Ended March31,2025
Compliance
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").
Certificate of Compliance
During the reporting period for the quarter ended March31,2025 the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.
Acknowledged : PFM Asset ManagementadivisionofU.S.Bancorp PFM Asset Management | pfmam.com 16
PFM Asset Management | pfmam.com
CITY OF LAKEWOOD
For the Quarter Ended March 31, 2025
Portfolio Activity
Portfolio Activity
Net Activity by Sector
($ millions)
U.S. Treasury
Agency CMBS
ABS
Corporate
U.S. Treasury
Agency CMBS
ABS
Corporate
($4.0) ($2.0) $0.0 $2.0 $4.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.
Sector Net Activity
Corporate $964,629
ABS $247,248
Agency CMBS ($3,785)
U.S. Treasury ($765,165)
Total Net Activity $442,927
Sales/Maturities Purchases
17 PFM Asset Management | pfmam.com
CITY OF LAKEWOOD
For the Quarter Ended March 31, 2025
Portfolio Characteristics
Historical Sector Allocation
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 46%
1%
18%
1% 3%
20%
11%Dec-24
44%
1%
18%
1%3%
22%
11%Mar-25
18 PFM Asset Management | pfmam.com
CITY OF LAKEWOOD
For the Quarter Ended March 31, 2025
Portfolio Performance
1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is December 31, 2007.
2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.
4. The portfolio’s benchmark is currently the ICE BofA 1-5 Year U.S Treasury Index. Prior to 3/31/19 it was the ICE BofA 1-3 Year U.S Treasury Index. Source: Bloomberg Financial LP.
0.0%
2.0%
4.0%
6.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned² $368,512 $1,409,717 $3,057,267 $4,278,401 $7,227,028 Change in Market Value $438,135 $944,652 $508,210 ($1,490,895) ($470,534) Total Dollar Return $806,647 $2,354,369 $3,565,477 $2,787,506 $6,756,494 Total Return³
Portfolio 1.97% 5.98% 3.02% 1.39% 1.78%
Benchmark⁴ 2.00% 5.50% 2.49% 0.70% 1.41%
3 Months 1 Year 3 Years 5 Years 10 Years
Difference -0.03% 0.47% 0.53% 0.69% 0.37%
19 RESOLUTION NO. 2025-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKEWOOD APPROVING THAT CERTAIN AGREEMENT
BETWEEN THE CITY OF LAKEWOOD AND MNS
ENGINEERS FOR PROFESSIONAL SERVICES RELATED TO
THE 2025 GENERAL PLAN UPDATE
THE CITY COUNCIL OF THE CITY OF LAKEWOOD DOES HEREBY FIND, RESOLVE AND DETERMINE AS FOLLOWS:
WHEREAS, the State of California requires cities and counties to prepare a General Plan, which must be updated from time to time; and
WHEREAS, the complexity of preparing a General Plan update that satisfies State law necessitates professional consulting services.
WHEREAS, the City issued a Request for Proposals for the 2025 General Plan Update.
NOW, THEREFORE, the City Council of the City of Lakewood does hereby resolve as follows:
SECTION 1. The City Council finds that the proposal submitted by MNS Engineers for preparation of the 2025 General Plan Update best suits the needs of the City.
SECTION 2. The City Manager is hereby authorized to enter into an agreement with MNS Engineers for preparation of the 2025 General Plan Update.
SECTION 3. The City Manager is hereby authorized to make minor modifications to the agreement relating to the scope of work and provided that the agreement does not exceed $1,100,000.
ADOPTED AND APPROVED THIS 22ND DAY OF APRIL, 2025.
Mayor
ATTEST:
City Clerk
Pan Am Fiesta Preview
April 22, 2025
Tiers of credits available for purchase are:
• 40 credits for $20
• 60 credits plus one free ride is $30
• 100 credits plus 3 free rides is $50
• 160 credits plus 5 free rides is $80
City Sponsored Food Booths
Food booths and food trucks are organized and coordinated by Lakewood community groups and offer an array of food options including kettle corn, hamburgers, hot dogs, tacos, loaded fries, shaved ice and ice cream. Food booths and food trucks located outside of the carnival venue will be open Friday, May 9 from 5 to 9 p.m. and Saturday, May 10 from 11 a.m. to 9 p.m.
Concessions operated by Lakewood community groups provide Fiesta participants with an affordable and diverse menu to choose from and supports programs, activities and scholarships for Lakewood’s youth. Participating community groups include Pan American Association, Lakewood Lions Club, Rotary Club of Lakewood, Soroptimist of Lakewood/Long Beach, Boy Scout Troop 134, and Mayfair Tot Lot.
Live Entertainment
Large audiences have always enjoyed Pan Am Fiesta entertainment, as there are many opportunities for Lakewood residents to listen or dance to many genres of music. On Friday, May 9, evening entertainment begins at 5:30 p.m. and will feature Latinas Art Foundation providing a folkloric dance performance. Later in the evening, BUMPTOWN Band will take the stage.
Saturday, May 10, will offer free live music that will keep the audience entertained. The Mayfair High School youth band and choral group will open on Saturday at 11 a.m. and immediately following, Boy Scouts of America, Troop 134, will participate in the Pan Am Fiesta Welcome and Flag Ceremony. A parade of flags from 35 countries in the Organization of American States is part of the Pan Am Fiesta’s traditional opening. The ceremony represents friendship and cooperation, two terms that are symbolic of the Lakewood community. Saturday’s concert lineup also includes a performance by Polynesian dancers. The concert schedule continues with Mariachi Jalisco at 4:30 p.m. and Knyght Ryder, an 80’s band, will close out the night from 7 to 9 p.m.
Children’s Cultural Booth
Children, ages 12 and under, can participate in free craft and cooking activities in the Children’s Cultural Booth. The activities in the Children’s Cultural Booth feature activities unique to the Pan American countries and provide a hands-on experience for all the young people who participate.
The Children’s Cultural Booth operates from 11 a.m. to 5 p.m. on Saturday, May 10. The booth is located just east of the tennis courts under the large canopy.