Agenda packet — Orinda City Council, August 19, 2025

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CITY COUNCIL
AGENDA
Tuesday, August 19, 2025
7:00 PM - REGULAR MEETING
City Council
Agenda Page 1 08.19.25
How to follow and/or participate in the meeting:

IN PERSON SPEAKER CARDS: If you would like to speak during the public forum or on an item listed on the agenda, you are invited to submit a speaker card to the City Clerk. You will be permitted to speak even if you elect not to submit a speaker card or decline to provide information requested on the card. After the City Council has heard from everyone who submitted speaker cards, anyone electing not to submit a speaker card may form a line at the lectern. Public comment is generally limited to 3 minutes per speaker per agenda item.

WRITTEN COMMENTS: You may also submit a public comment in advance of the meeting by following instructions below:

Deliver to City Hall at 22 Orinda Way or send an e-mail to [email protected] by 3pm on the day of the meeting. Those comments will be forwarded to the City Council. They will also be made a part of the public record and be available to view in the public review binder at Orinda City Hall, 22 Orinda Way. In addition, they will be available electronically by 5pm on the day of the meeting by selecting the date of the meeting in this Box account link:
https://tinyurl.com/Orinda-Public-Comment
REMOTE COMMENTS: Remote Public Comments have been discontinued for the foreseeable future.
7:00 PM - REGULAR SESSION
A. CALL TO ORDER / ROLL CALL
Councilmembers: Darlene Gee, Cara Hoxie, Janet Riley
Vice Mayor Brandyn Iverson, Mayor Latika Malkani
B. PLEDGE OF ALLEGIANCE
City Council
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C. ADOPTION OF AGENDA
The City Council may take action on any item listed on the agenda.

D. ITEMS FOR THE GOOD OF THE CITY
E. PUBLIC FORUM
The public forum provides an opportunity for members of the public to speak on any item within the jurisdiction of the City Council that is not on the agenda.

Additionally, a speaker has the option of addressing the Council on an item listed on the agenda, if the speaker will not be present when that agenda item is taken up. When an item is not listed on the agenda, State law prohibits Council discussion or action. Councilmembers may only “briefly respond” to statements made and questions posed. For example, State law allows Councilmembers to ask questions for clarification and provide a reference to staff or other resources for factual information. Additionally, consistent with the “Matters Initiated” rule contained in its Policies and Procedures Manual, the Council may also direct staff to report back and/or place a matter on a future agenda for discussion.

F. CONSENT CALENDAR
F.1. Minutes Approval
Recommendation:

Approve City Council Minutes:

1. July 15, 2025 Regular Meeting
F.2. Policy for the Display of Banners on City Street Light Poles in Downtown Areas
Recommendation:

Adopt Resolution No. 46-25, Approving a Banner Display Policy on City Street Light Poles.

F.3. Quarterly Investment Report for Quarter Ending June 30, 2025 Recommendation:

Accept the Quarterly Investment Report for the period ending June 30, 2025.

F.4. Road Closure to Vehicular Traffic for the Orinda Annual Classic Car Show
Recommendation:

Adopt Resolution 47-25 Approving the Closure of a Portion of Orinda Way and All of Avenida de Orinda for the Orinda Annual Classic Car Show (Traffic Order No. 239).

F.5. Acceptance of Work and Contract with Cowan & Thompson Construction, Inc.

Recommendation:

City Council
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Adopt Resolution No. 44-25 to Accept the Work and Contract with Cowan & Thompson Construction, Inc. for the Drainage Facilities Improvement Project (CIP #4111).

F.6. Adoption of Resolution No. 45-25 Establishing the Property Tax Rates for the General Obligation Bond Series 2014 and Series 2016 for Fiscal Year 2025-26
Recommendation:

Adopt Resolution No. 45-25 Establishing the Property Tax Rates for Bonded Indebtedness for Fiscal Year 2025-26; and, direct Staff to provide the information to the Contra Costa County Auditor-Controller for preparation of the tax levy.

F.7. Acceptance of Work and Contract with Satellite Painting, Inc.

Recommendation:

Adopt Resolution No. 48-25 Accepting the Work and Contract with Satellite Painting, Inc. for the Exterior Building Painting Projects (CIP #’s 4083, 4175 and 4182).

F.8. Award Construction Contract to Miksis Services Inc. for Annual Storm Drain Repair Project (Category B) (CIP #5008 and #5009) Recommendation:

Award a construction contract to Miksis Services Inc. for Annual Storm Drain Repair Project (Category B), authorize a contingency of 25%, and approve plans for the project.

G. PUBLIC HEARING
G.1. Annual Review of Wilder Development Agreement
Recommendation:

Conduct a public hearing and find OG Property Owners, LLC in substantial compliance with all the terms of the Second Amendment and Restatement of the Development and Pre-Annexation Agreement for Gateway Valley, as amended.

H. POLICY MATTERS
H.1. Fire Safe Moraga-Orinda Funding Request
Recommendation:

Receive report from Staff, as well as presentation from Fire Safe MoragaOrinda. Discuss the request and provide direction to Staff.

I. COUNCILMEMBERS' REPORTS
J. CITY MANAGER'S REPORT
K. MATTERS INITIATED
City Council
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L. CLOSED SESSION

1. OPEN SESSION IDENTIFICATION of Closed Session Matters

2. PUBLIC COMMENTS of Closed Session Matters

3. CLOSED SESSION

4. REPORT OUT OF CLOSED SESSION
a. CONFERENCE WITH LABOR NEGOTIATORS
Pursuant to Government Code Section 54957.6, conference with the City’s designated labor negotiators (Mayor Malkani and Vice Mayor Iverson), City Attorney.

M. ADJOURNMENT
The next meeting of the Orinda City Council will be held on Tuesday, September 02, 2025 at 7:00 PM.

Please visit the City’s website at www.cityoforinda.org to view the City Council Calendar.

I, Sheri Marie Smith, City Clerk, declare under penalty of perjury under the laws of the State of California that this special meeting agenda has been posted at least 24 hours in advance at the Orinda City Hall, 22 Orinda Way and the Orinda Library, 26 Orinda Way.

Additional copies are available at the Orinda Library, 26 Orinda Way, and at the City’s website at www.cityoforinda.org. At least 24 hours in advance of the meeting, this agenda was also delivered to and received by each member of the City Council as well as each local newspaper, radio station and television station requesting written notice of special meetings.

I, Sheri Marie Smith, City Clerk, declare under penalty of perjury under the laws of the State of California that this regular meeting agenda has been posted at least 72 hours in advance at the Orinda City Hall, 22 Orinda Way and the Orinda Library, 26 Orinda Way. Additional copies are available at the Orinda Library, 26 Orinda Way, and at the City’s website at www.cityoforinda.org
~ Notices ~
There is a 90-day limit for the filing of a challenge in Court to certain City decisions that require a hearing by law, the receipt of evidence, and the exercise of discretion. The 90-day limit begins on the date the decision is final (Code of Civil Procedure §1094.6). Further, if you file a challenge in Court, you may be limited by California law, including but not limited to Government Code §65009, to those issues raised in connection with the public hearing. The City Council may be requested to reconsider a decision if the request is made prior to the next City Council meeting. For information on the next City Council meeting, please call 925.253.4221 or visit the website at www.cityoforinda.org. Unless otherwise noted, City Council actions include a determination that the California Environmental Quality Act (CEQA) does not apply. ~ Accessible Public Meetings ~
The City of Orinda will provide special assistance for disabled citizens to participate in public meetings upon advance notice. If you need auxiliary hearing aid or sign language assistance at least two (2) working days advanced notice is necessary. Please contact the City Clerk’s Office, City Council
Agenda Page 5 08.19.25
22 Orinda Way, Orinda, Ca 94563 or 925.253.4221 or [email protected] with the following information: name, mailing address, phone number and type of assistance requested.

City Council
Staff Report
Agenda Item: F.1
Date: August 19, 2025
Department: City Clerk
AGENDA TITLE: Minutes Approval
RECOMMENDATION:

Approve City Council Minutes:

1. July 15, 2025 Regular Meeting
BACKGROUND:

The following City Council Minutes are attached for review and adoption.

1. July 15, 2025 Regular Meeting
ATTACHMENTS:

A. City Council Minutes of July 15, 2025
Respectfully Submitted by:

Sheri Smith
City Clerk
Prepared By: Sheri Smith, City Clerk
Approved by:

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Orinda City Council Minutes Page 1 of 19 07.15.25
JULY 15, 2025

CITY OF ORINDA

CITY COUNCIL MINUTES
Note: Written communications received from the public prior to the start of this meeting can be viewed on the City’s website meeting calendar. They are also kept in the City Clerk’s Office as part of the public record and available upon request ([email protected]). 7:00 P.M. – REGULAR MEETING– ORINDA LIBRARY AUDITORIUM
A. CALL TO ORDER / ROLL CALL:

Mayor Malkani called the Regular Meeting to order at approximately 7:00 p.m.

COUNCILMEMBERS PRESENT: Cara Hoxie, Janet Riley, Darlene Gee Mayor Latika Malkani, Vice Mayor Brandyn
Iverson
COUNCILMEMBERS ABSENT: None
B. PLEDGE OF ALLEGIANCE – Led by Mayor Malkani
C. ADOPTION OF AGENDA
MOTION by Councilmember Hoxie, and seconded by Vice Mayor Iverson, to adopt the agenda. Said motion carried by unanimous (5-0) vote.

D. ITEMS FOR THE GOOD OF THE CITY
D.1. Proclamation Designating July 2025 as Park and Recreation Month in the City of Orinda
Mayor Malkani read portions of the proclamation into the record and expressed gratitude to the Parks and Recreation Department. She presented the proclamation to Todd Trimble, the Director of Parks and Recreation and he thanked the Council for the recognition.

Mayor Malkani opened the Public Forum, and there were no speakers.

E. PUBLIC FORUM
There were no speakers, and Mayor Malkani stated the Council received one written comment from Nick Waranoff.

F. CONSENT CALENDAR
F.1.a
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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) Orinda City Council Minutes Page 2 of 19 07.15.25
Mayor Malkani requested removal of Item F.9. Councilmember Gee requested removal of Item F.3. She asked and confirmed there were no requests for removal of items and no public comments.

F.1. Minutes Approval
Recommendation:

Approve City Council Minutes:

1. June 10, 2025 Special Workshop

2. June 17, 2025 Closed Session

3. June 17, 2025 Regular Meeting

4. July 1, 2025 Special Meeting
F.2. Adoption of Two-Year Strategic Plan
Recommendation:

Adopt the City of Orinda's Two-Year Strategic Plan.

F.4. Public Hearing to Consider Resolution to Adopt a General Plan Amendment to Reclassify Wilder Road as a Collector Road in Table

2.1 Recommendation:

Adopt Resolution No. 28-25, Amending the General Plan to Include Wilder Road as a Collector Road in Table 2.1 "City of Orinda Roadway Functional Classification."
F.5. Public Hearing to Consider Vacation of Public Right-of-Way for a Portion of Wilder Road
Recommendation:

Adopt Resolution No. 39-25, Approving the Vacation of the Public Rightof-Way on a 24,561 Square-Foot Portion of Wilder Road at its Southern Terminus, and Reserving Necessary Easements.

F.6. Declaration of Exempt Surplus Land at Southern Terminus of Wilder Road and Authorization to Transfer to the Orinda Geologic Hazard Abatement District (GHAD)
Recommendation:

Adopt Resolution No. 42-25 Declaring 24,561 Square Feet at the Southern Terminus of Wilder Road as “Exempt Surplus Land” and Authorizing the Transfer to the Orinda Geological Hazard Abatement District (“GHAD”).

F.7. Award Construction Contract to Miksis Services Inc. for Drainage Facilities Improvement (CIP #4111)
Recommendation:

Award a construction contract to Miksis Services Inc. for an amount of $123,105 for storm drain lining on Orinda Way, authorize a contingency of 15%, and authorize City Manager to execute access and cost sharing agreements with Chevron USA Inc. for said work.

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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) Orinda City Council Minutes Page 3 of 19 07.15.25
F.8. Parcel Map for Subdivision MS 2024-001 Urban Lot Split at 88 Sunnyside Lane
Recommendation:

Adopt Resolution No. 40-25, Approving Parcel Map for Subdivision MS 2024-001 Urban Lot Split at 88 Sunnyside Lane, Orinda, CA.

MOTION by Councilmember Riley, and seconded by Councilmember Gee to approve Consent Calendar Items F.1.1-F.1.4, F.2, F.4, F.5, F.6, F.7, and F.8. Said motion carried by unanimous (5-0) vote.

Items Removed from the Consent Calendar:

F.3. Regional Advocacy Agreement with Townsend
Recommendation:

Authorize the City Manager to enter into a Regional Advocacy Agreement with the City of Lafayette, the Town of Moraga and Townsend Public Affairs.

Councilmember Gee pulled the item to thank the City Manager and Councilmembers, stating this is an incredible move forward for the community in working together with Lafayette and Moraga.

Mayor Malkani opened the Public Forum, and there were no speakers.

MOTION by Councilmember Gee, and seconded by Councilmember Hoxie to approve Consent Calendar Item F.3. Said motion carried by unanimous (5-0) vote.

F.9. Remove Existing “No Left Turn” Sign from southbound Moraga Way at Ivy Drive (North) Intersection and Install a New “No Right Turn” Sign at southbound Ivy Drive and Ardith Drive Intersection Recommendation:

Approve Resolution 41-25 (Traffic Order 238) to authorize the following:
1) Remove existing “No Left Turn” signs at southbound Moraga Way/Ivy Drive (north) intersection and Rescind Resolution 15-02 (Traffic Order 115);
2) Change existing time restriction on “No U-Turn/No Left Turn” signs on southbound Moraga Way at Southwaite Court on school days to 7:30 a.m. to 8:30.a.m., Weekdays Only and Rescind Resolution 41-12 (Traffic Order 155);
3) Change existing time restriction on “No U-Turn/No Left Turn” signs on southbound Moraga Way at Whitehall Drive on school days to 7:30 a.m. to 8:30.a.m., weekdays only and Rescind Resolution 42-12 (Traffic Order 156); and
4) Install new “No Right Turn” sign at southbound Ivy Drive at Ardith Drive restricting turn movements on school days from 7:30 a.m. to 8:30.a.m., weekdays only.

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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) Orinda City Council Minutes Page 4 of 19 07.15.25
Public Works Director Scott Christie gave a brief staff report and PowerPoint presentation of the matter.

Vice Mayor Iverson inquired whether residents on Ardith Drive had provided input regarding the proposed right-turn recommendation. Mr. Christie indicated that a few comments had been received.

Councilmember Hoxie raised concerns about the traffic study's validity, noting it was conducted on a school finals day (Friday, May 24), which may have resulted in atypically low traffic. She also observed that the limited number of left turns recorded between 7:00–8:00 a.m. could be attributed to an existing “No Left Turn” sign.

Councilmember Gee emphasized the complexity of the traffic issue, likening it to a situation where addressing a problem in one area causes new problems elsewhere.

She sought clarity on the core problem being addressed—whether it was related to changes in Miramonte’s schedule or access to OIS—and acknowledged the broader challenges of managing peak-time traffic in neighborhoods.

Mr. Christie explained the issue stems from multiple factors, including early arrival times for Miramonte students and staff. He noted the current left-turn restriction prevents legal access during early hours, and the proposed modification would alleviate this.

Vice Mayor Iverson shared student feedback that congestion on Moraga Way leads drivers to use Ardith and Ivy as alternate routes to bypass inefficient traffic signals. She and Councilmember Hoxie discussed the feasibility of alternate routes (e.g., Coral) and their impact on commute times.

Councilmember Gee suggested evaluating the stop sign configuration at Ardith and Coral, specifically considering a four-way stop. Mr. Christie confirmed this has been reviewed and a consultant will be engaged to assess the intersection.

Councilmember Hoxie raised the need to complete the sidewalk along Coral to Moraga Way. Mr. Christie stated this could be considered in a future Capital Improvement Project (CIP), pending support.

Mayor Malkani referred to cut-through traffic analysis and questioned the destinations of drivers turning left—whether they are heading to OIS or continuing to Miramonte. Mr.

Christie responded that the consultant may have used cell phone and traffic volume data, but he would need to confirm.

Regarding traffic signal timing, Mayor Malkani asked about measures taken to improve flow. Mr. Christie explained adjustments involve changing phase durations and vehicle queuing times. These are reviewed periodically and can be further evaluated.

Councilmember Riley asked whether changing the hours of the left-turn restriction had been considered as an alternative to removing the sign entirely. Mr. Christie suspected it had been discussed but would confirm with the consultant.

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Mayor Malkani opened the Public Forum, and she noted written comments were also received on the matter.

Tim Silviera, 64 Ivy Drive, emphasized that traffic changes made in 1999, including the "No Left Turn" sign on South Orinda, were implemented for neighborhood safety. He urged that the sign remain in place, warning that its removal would increase cut-through traffic, and believes the traffic issue is unresolvable due to the volume of cars.

Doreen Marr, Ivy Drive, said she participated in all meetings when changes were made, cited many changes over the years with Fehr and Peers doing studies and problems with traffic, rear-ending, kids getting hit, etc., and she asked not to remove the “No Left Turn” sign.

Emily Wax-Polkari,182 Ardith Court, raised concerns about traffic congestion and safety near OIS and Miramonte Schools. She recommended staggering school start times by 30 minutes to improve the effectiveness of “No Left Turn” signs. She strongly opposed reopening Coral Drive as a cut-through due to safety risks, including a blind intersection and lack of sidewalks. She urged the City to prioritize pedestrian safety improvements on Coral Drive immediately, without waiting for lengthy studies.

Lisa Rudolph, an OIS teacher and parent, supported addressing traffic issues, particularly due to Miramonte student cut-throughs. She noted light traffic from 7–8 a.m. but heavy congestion between 8 and 8:30 a.m. She opposed changing OIS start times, citing disruption to schedules. She raised serious safety concerns about Coral Drive, citing delays, a blind hill, and heavy pedestrian use, especially by children. With many families using Coral for early OIS programs, she called for continued dialogue and comprehensive safety solutions around schools and Moraga Way.

Karen Lum-Mackley, 93 Coral Drive, a retired pediatrician, stressed student safety and supported keeping the “No Left Turn” sign. She highlighted hazardous conditions near the OIS walkway and noted her four-year involvement in traffic mitigation efforts.

Pointing out that 73% of residents were unaware of the sign, she questioned the relevance of the decades-old decision and urged for a more inclusive, transparent process instead of unilateral changes.

Chris Gurit, 60 Ivy Drive, shared results from a personal traffic survey near OIS, noting 134 vehicles passed straight through the Ivy Drive stop sign toward Miramonte, totaling over 24,000 trips annually—a major safety concern. Only 48 vehicles came from Coral Drive, showing less southern traffic. He reported 471 total trips during the count despite 800 students and 14 buses, highlighting the need to reduce vehicle volume near bus stops and sixth graders. He also compared travel times, noting it took 9 minutes via Coral versus 2 minutes via Ivy Drive, underscoring safety and time trade-offs.

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Page Mittler, a parent of students at Miramonte and OIS, clarified the traffic study took place during "dead week," not finals. She shared how the “No Left Turn” restriction impacted her family, making it difficult for her Miramonte student to drop off younger siblings on time. She noted the alternative route was too slow. Ms. Mittler expressed concern that allowing left turns between 8:00 and 8:30 a.m. leads to heavy cut-through traffic from Miramonte students and questioned whether partial restrictions could effectively resolve the issue without a full-time “No Left Turn” from Moraga onto Ivy Drive.

Mayor Malkani said when Ms. Mittler said a parent’s Miramonte child who was trying to drop OIS children early, she asked and confirmed it was before 8 a.m.

Whitney Marr, 54 Ivy Drive, noted that during a Zoom call with 41 neighborhood members, the majority did not support keeping the “No Left Turn” sign, suggesting some attendees tried to flood the meeting to push their views. He emphasized the long effort put into the issue, encouraged collaborative problem-solving, and stated that input from 600 people could generate many ideas. He urged the Council not to remove the “No Left Turn” sign.

Councilmember Gee asked if there was consideration given to changing the hours of the “No Left Turn” sign.

Council discussion ensued regarding the following:

Traffic Timing & School Start Times:

Vice Mayor Iverson and Councilmembers noted that changing OIS school start times isn’t feasible due to tight schedules and impacts on teachers and after-school activities.

The 7–8 a.m. “No Left Turn” sign was originally to reduce Miramonte cut-through traffic before school but now is less effective because Miramonte starts later (8:30 a.m.).

Congestion between Ivy Drive and Miramonte is problematic, and removing the sign might increase traffic.

Traffic Study Validity:

Councilmember Riley and others questioned the timing and reliability of the traffic study, noting it was conducted during “dead week,” and existing signs may have influenced driver behavior, casting doubt on data accuracy.

Neighborhood Concerns vs. Traffic Flow:

Councilmember Hoxie emphasized protecting the quiet of Ivy Drive residents from early morning traffic, favoring keeping the “No Left Turn” sign to maintain neighborhood calm.

Vice Mayor Iverson countered that maintaining the sign solely for neighborhood quiet enjoyment isn’t sufficient justification, especially if it inconveniences those legitimately trying to get to school.

Proposed Traffic Measures:
• Trial of a “No Right Turn” on Ardith to discourage cut-through traffic, along with possible speed bumps (currently disallowed by Fire Department).

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• Consideration of a 4-way stop at Ardith and Coral, pedestrian safety improvements like sidewalks, especially on Coral Drive due to children walking. • Acknowledgment that long-term infrastructure improvements will need to be budgeted and planned.

Safety Concerns:

Councilmembers agreed pedestrian safety is critical, given the number of children walking in the area and teenage drivers using shortcuts.

Balancing Cut-Through Traffic and School Access:

Vice Mayor Iverson framed the challenge as balancing Miramonte students’ shortcut traffic with the need for OIS students, buses, and pedestrians to arrive safely and on time. Councilmember Hoxie stressed that the cut-through issue and the early morning traffic calming measure are separate and should be addressed individually.

Next Steps:

The Council leaned toward approving a pilot program adjusting signs (including removing the “No Left Turn” from 7–8 a.m., trying “No Right Turn” on Ardith) with continued monitoring and community input. They emphasized the difficulty of the problem due to multiple schools in close proximity starting within the same timeframe.

City Manager Smith asked if there is a way to de-couple the “No Left Turn” on Ivy from the other safety improvements staff is also recommending tonight so the City could spend more time on that matter. Mr. Christie said it is possible; however, they might want to entertain the idea of giving staff some flexibility on adjusting the time to be more in-sync because leaving it at the same time does not serve the purpose.

Mayor Malkani suggested shifting the “No Left Turn” sign restriction to 6:45–7:45 a.m., aiming to allow OIS teachers and students to arrive by 8 a.m. while preserving a quiet period for residents.

City Manager Smith said because school starts soon, staff asked if the Council could agree on certain immediate improvements and defer the more controversial “No Left Turn” issue on Ivy Drive for later discussion. Since this was not agendized separately, staff recommended no changes to the sign tonight unless consensus emerged, and suggested a potential medium-term time adjustment.

Vice Mayor Iverson expressed concern that the Council may not be equipped to iterate effectively on this complex issue, and noted TSAC had spent two years reviewing it.

She supported staff’s full recommendation but her motion lacked a second and it died.

Councilmember Riley questioned the validity of the traffic study because the sign was in place during data collection. She proposed temporarily removing the “No Left Turn” sign for a week to gather clearer data.

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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) Orinda City Council Minutes Page 8 of 19 07.15.25
City Manager Smith suggested that without a Council motion, staff could return with options including a temporary lift of the “No Left Turn” sign during the school year for better data, and explore other safety improvements. Recommended no action tonight but direction to continue study.

Vice Mayor Iverson’s Cautioned that changing signs abruptly during the school year risks confusion and traffic citations; suggested a longer-term trial (3 months) with good public communication.

Councilmember Gee emphasized desire for a comprehensive approach, including safety improvements at Coral/Ardith intersection and sidewalks, even if funding isn’t immediately available. Asked for clearer data on who needs to get where and when.

Councilmember Hoxie suggested using the 2x2 committee to discuss OIS start times and related traffic needs with the school district superintendent. Vice Mayor Iverson Preferred that TSAC directly engage with the Superintendent to avoid delays, rather than waiting for the biannual 2x2 meetings.

Mayor Malkani noted lack of majority support for any change today but recognized interest in revisiting the issue soon. Asked City Manager for guidance on what should return to Council.

City Manager Smith heard a desire for a more holistic approach, including school safety, sight distance, stop signs, sidewalks, and additional traffic analysis. She offered to return with a limited Traffic Order proposal (e.g., temporarily removing the “No Left Turn” sign) for study purposes.

Councilmember Riley requested a separate study session with the traffic consultant and staff to review the study methodology and goals. She suggested inviting the school district, but Mayor Malkani preferred the session be limited to the Council.

Vice Mayor Iverson asked City Manager to confirm with the Fire Department if speed bumps could be reconsidered on Ardith, as TSAC’s current blanket ban is due to evacuation routes, and Ardith might be an exception.

Councilmember Riley said she is struggling with how the study was done when the sign said do not turn left. Mr. Christie said in hindsight, he would have invited the traffic consultant tonight and he cannot precisely answer the question on how they do that.

He can look at windows around it and draw conclusions based on overall traffic patterns, but he acknowledged the question and was not sure how that process works.

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City Manager Smith said if there is no desire for a Councilmember to make another motion, staff could receive direction to take this back and look at other things, such as better understanding it, put in place a limited Traffic Order during the school year so they can measure the 7 to 8 a.m. traffic and return to the Council. All of these things should not occur tonight, and if there is no thought of de-coupling the first item in the Traffic Order for the remainder of items, she would suggest not taking action on any recommendations and give staff direction. For example, there could be a temporary lift of the “No Left Turn” sign to do additional study.

Councilmember Riley asked if the Council could agendize a separate study session in the Sarge Room with the traffic consultant to get more information. She would also add direction to obtain more information from the person who conducted the study and an answer as to what they are trying to achieve and what does this achieve if the sign is taken away.

Councilmember Hoxie suggested the school district also be invited for the study session, and Mayor Malkani was opposed to this and felt strongly that it should only be the City Council. She recommended obtaining more data on the number of students at Miramonte and OIS have reasons to be at school before regular start times.

Vice Mayor Iverson asked before the meeting if the City Manager could reach out to the Fire Department. She knows TSAC has a blanket “No speed bumps” rule so she did not want to get a “no” before asking the question because Ardith is so different from the evacuation route problem that created that prohibition, so this would be a very helpful solution to discuss this.

City Manager Smith asked if the Council was interested in the limited Traffic Order as part of the analysis or just talk about it and give further direction on that from the study session.

Mayor Malkani said Items 3 and 4 are the Southway Court and Whitehall Drive “No Left Turn” signs, and it is changing the hours from 7 to 8 to 7:30 to 8:30 a.m. She thought she heard consensus on that. Vice Mayor Iverson said they could change the time, but all Councilmembers agreed to evaluate it with the other items.

City Manager Smith confirmed staff has direction to agendize a study session and hold more discussion around the issue.

G. PUBLIC HEARING – None.

H. POLICY MATTERS
H.1. Study Session: Inclusionary Housing Ordinance - an Implementing Action of the Housing Element
Recommendation:

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Receive a report on the Economic Feasibility and Market Study for a potential inclusionary housing ordinance. Provide direction on preliminary recommendations.

Christine Thomson, Principal Planner, gave the staff report and overview of the Inclusionary Housing Ordinance which is an implementing actions of the Housing Element, as well as the Economic Feasibility and Market Study. The charge of the City is to evaluate inclusionary housing ordinances as a way to increase affordable housing in town. It is also to decide if this is an appropriate policy objective for the City.

She noted that the consultant is present who will talk directly to the study and also the focus group conversation summary memo was included in the packet. She noted Planning staff of Lashun Cross and Darren Hughes are also working on the item and this has been discussed at two prior Council meetings but was kicked off by the certification of the Housing Element in January 2023.

Ms. Thomson explained the background and reasons for adopting an inclusionary housing ordinance, focusing on five key factors like development size, affordable unit percentage, unit mix, in-lieu fees, and development incentives. The Council is currently reviewing an Economic Feasibility and Market Study with preliminary recommendations, seeking direction before moving to a final recommendations memo that includes public input. Next steps include drafting the ordinance, holding a Planning Commission hearing in August, and a City Council hearing in September for final approval.

David Bergman from Lisa Wise Consulting presented the Economic Feasibility and Market Study, explaining the inclusionary housing ordinance (IHO), project timeline, and relevant policies like the Housing Element and MTC’s Transit-Oriented Communities policy. Key study findings cover topics such as inclusionary percentage, project size, income levels, rental vs. ownership, in-lieu fees, affordability controls, and development incentives. Staff recommends the Council provide guidance on these preliminary findings to help prepare a recommendations memo incorporating feedback from the Council, Planning Commission, and the public.

City Manager Smith noted that the Council is already familiar with the issues and suggested focusing on key items like the percentage allocation and in-lieu fee amounts.

She emphasized that each project’s feasibility depends on land values, which may differ from property owners’ expectations. To encourage development, the ordinance should allow flexibility to assess projects individually. She also urged the Council to clarify the policy goals for the in-lieu fee, highlighting how such fees can be pooled with other resources to support more affordable housing through partnerships with non-profit developers.

Councilmember Gee asked if they can designate that the inclusionary housing must be a certain size, such as a 2-bedroom, so it is not all comprised of studio units. Mr.

Bergman said they have to be proportionate to the market rate units so if the development is all 2-bedrooms, they cannot make all affordable units studio units. This goes back to the functionally indistinguishable requirement.

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Councilmember Hoxie said she understands the City cannot go over 15% but asked about their neighboring communities which are as low as 10%, and asked if it related to the TOC policy. Mr. Bergman said it is the TOC policy and where the State is trying to push jurisdictions. 15% seems like a number to not exceed, but the Council would have to justify why they would not go below 15%, particularly with the parking requirement downtown.

City Attorney Wolff clarified that State law now prohibits the City from requiring parking within one-half mile of BART.

Mr. Bergman said the model assumes a lower rate of parking than the code so it is more about reflecting the market. Within the high-quality transportation area, the City may not use its zoning code to impose an off-street parking requirement. So, they could be zero parked. So, realistically, it is also about whether the units would sell or rent with no parking.

Councilmember Hoxie asked if it is MTC policy that keeps the City from separating the two categories of both for sale and rental units. It seems like 15% affects the feasibility of for-sale units at a much higher rate than rental units. Mr. Bergman agreed and said the gap between affordability for for-sale projects and those incomes is greater than it is for rent, but also the single-family in that circumstance is an artifact of the large lot size requirement.

Vice Mayor Iverson asked for more information about the Planning Commission’s input and feedback.

Ms. Thomson explained that some of it was that they had not had those previous discussions, so they were getting into details and were asking basic questions in understanding parameters and how they mix. They were uncertain as to how to mix them because there are toggles and they were not sure what the best set of toggles would result. They asked the question of whether it is required, and it is in the contract with HCD but there are a variety of things that must be implemented. So, it was identified as a low-hanging fruit.

Vice Mayor Iverson asked if there was any consensus or recommendation from the PC and she confirmed with Ms. Thomson that the PC was having a study session, as well.

Mayor Malkani referred to the percentage and asked if the consultant is seeing trends of other jurisdictions looking to amend their inclusionary ordinances, particularly the percentage or pieces to be compliant with TOC policy. Mr. Bergman said there is TOC policy and for jurisdictions impacted by it, yes, they are seeing a trend of communities trying to comply with MTC’s TOC policy because MTC is clear that will be a requirement for the One Bay Area grants in Cycle 4.

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Mayor Malkani asked if the chart will therefore look different, and Mr. Bergman said yes, and cities will amend their older approved percentage. Another issue is that starting in the Sacramento area and finishing up in Kern County with the latest ones, it was interesting to see how HCD’s requirement got more emphatic about adoption and adoption at certain targets the later one was in the cycle. Once HCD latched onto housing mobility in AFFH, that became the lever they used to then later in the cycle require communities to adopt and require at certain percentages. So, this feels like a mid- to late-level adoption and as one got later and later in the process, HCD was requiring an adoption at 15%.

Vice Mayor Iverson said she was not aware HCD had bonded onto the idea that these sorts of laws create more income ability. She always heard that because in for-sale people in the BMR units are not accruing any wealth other than what they paid on their mortgage, and renters are stuck where they cannot ever move and the unit is locked up. So, she thought they were an “anti-mobility thing” and she is wrong about the latest thinking.

Mr. Bergman said they define mobility a little differently. So, it is geographic mobility and not income ability.

Mayor Malkani opened the Public Forum.

Brian Griggs, representing himself and Jeff Stone, voiced support for an inclusionary housing ordinance but emphasized the need to align affordability goals with development realities. He cited rising costs causing project delays statewide and noted Orinda's challenging market, limited sites, and perceived resistance to development.

Mr. Griggs urged realistic financial assumptions and thoughtful policy to ensure feasibility and success.

Jeff Stone, a seasoned developer, cautioned against adopting an inclusionary housing ordinance without fully understanding its financial impacts. Citing his own projects—like a Moraga development facing legal challenges due to height increases tied to affordable units—he emphasized that flawed cost assumptions in the feasibility study (e.g., significantly underestimated construction costs) could lead to misguided policy. Mr.

Stone urged the Council to take more time to align the ordinance with market realities, warning that poorly calibrated requirements could stall housing production and jeopardize land control.

MOTION by Mayor Malkani, and seconded by Councilmember Riley, to extend the Council meeting to 10:30 p.m. Said motion carried by unanimous (5-0) vote.

Mayor Malkani opened the Public Forum, and there were no speakers.

Councilmember discussion ensued.

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Councilmember Gee appreciated the developers’ input but found it difficult to fully understand. She emphasized the importance of staying compliant with state (HCD) and regional (MTC) guidelines and supported including flexibility in the Inclusionary Housing Ordinance (IHO) to allow project-by-project considerations.

Councilmember Riley agreed with Gee, supporting broad exceptions in the IHO to allow case-by-case flexibility, acknowledging that most Council members are still learning about these complex issues.

Councilmember Hoxie, new to the topic, expressed concern that cost estimates seemed too low and could hinder project feasibility. She stressed the need for balance—enough standards to ensure quality, but not so strict that development becomes impossible— and supported adding flexibility.

Mayor Malkani clarified that while the IHO must apply broadly, flexibility can be introduced through specific choices within the ordinance, not necessarily through full case-by-case discretion.

City Manager Smith stated the Council could build in an exception or an ability to waive the requirement for a project if they can demonstrate the feasibility is in question if the standards are applied.

Mayor Malkani supports an Inclusionary Housing Ordinance (IHO), mainly to comply with MTC TOC guidelines. She would prefer a 10% inclusion rate, but is open to 11– 15% for compliance, voiced concerns that TOC requirements are not well-aligned with neighboring jurisdictions, supports an in-lieu fee but needs more clarity on the fee range; worries Orinda's fee might be higher than peers', believes affordable housing goals must balance feasibility to avoid stalling development, and wants Orinda to stay eligible for MTC funding and encourages responsible growth.

City Manager Smith asked for clear direction on in-lieu fee structure to bring back a viable proposal, explained in-lieu fees can be leveraged with non-profits (e.g., Eden Housing) to produce more affordable units than developer-built units, and emphasized the need to balance between encouraging construction and collecting funds for future affordable housing projects.

Councilmember Gee prefers actual affordable units over fees, questioning whether Orinda can collect enough to fund full projects, is worried about the optics of Orinda being the only city not adopting IHO, fearing NIMBY criticism, and acknowledged State Housing and Community Development (HCD) expectations and the need to meet RHNA goals.

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Vice Mayor Iverson said she is cautious about IHO; doesn’t believe it's the best fit for Orinda right now, thinks all-affordable projects (e.g., Eden, Monte Verde) are more feasible than inclusion in market-rate projects, warned against adding local regulations on top of state incentives, which may discourage development, and is concerned that developers pass the cost of BMR (below-market-rate) units on to other renters longterm. She prefers to let the market work, focusing on attracting a few high-quality projects and questioned the process, feeling it skipped over the question of whether to pursue IHO and jumped to how.

City Manager Smith summarized the Council questions raised which include:
• Whether Orinda should adopt an IHO or rely on in-lieu fees and all-affordable developments.
• How to set in-lieu fees that are fair, feasible, and effective. • Whether IHO helps or hinders development in a small city like Orinda. • Whether not having an IHO makes the city vulnerable to external criticism or pressure.
• Balancing local values and priorities with regional and state compliance requirements.

Mayor Malkani noted recommendations are also in detail at the back of the consultant report and Ms. Thomson suggested asking Councilmembers whether they want the IHO.

Vice Mayor Iverson stated she is opposed to moving forward with an IHO.

Councilmember Riley asked what the City loses out on if it does not comply with TOC policy. City Manager Smith stated the City could lose transportation grants from federal money that gets passed through MTC and then gets reallocated to local jurisdictions.

OBAG 4 funding has been identified and the question is whether MTC will use this as the basis for all determinations and not just for OBAG funding.

Councilmember Riley asked and confirmed with City Manager Smith that the information the City has is current about MTC policy, and that the Council is under no obligation to make a decision about this ordinance.

Mayor Malkani said she thinks the question was whether to move forward with an inclusionary ordinance or not, and, if so, her view is 15% versus 10% because of MTC TOC policy.

Councilmember Hoxie said, she thinks getting the kinds of projects built in Orinda that people want to live in is important to her so she does not know enough on how to make this policy work with that view or if it can. She is not clear on moving forward, but was in favor of the conversation and understanding it better. She is concerned about the percentage and did not think they want to be at the top of the in-lieu scale or at the bottom, but somewhere in the middle.

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Councilmember Gee supported moving forward with the IHO, believes it is important politically and regionally for Orinda to stay aligned with MTC, HCD, and neighboring cities, and wants IHO to be flexible and modifiable, not necessarily rigid.

Councilmember Riley said she is undecided but is leaning toward supporting the IHO to avoid appearing uncooperative on housing. She is concerned about the 15% inclusion rate and wants more clarity on the numbers and flexibility for lower percentages.

Ms. Thomson said there is a range and the Council can go lower but being in compliance with MTC is where the 15% is coming from. You can have exceptions with that and go with 11% 12%, etc.

City Manager Smith said staff will continue to take feedback and return to the Council.

Staff will talk on their end about timing and whether or not they need another check-in before bringing a draft ordinance forward.

MOTION by Mayor Malkani, and seconded by Councilmember Hoxie, to extend the Council meeting to 10:45 p.m. Said motion carried by unanimous (5-0) vote.

H.2. Correspondence from Nicholas Waranoff Regarding Brown Act and Settlement of Orindans for Safe Emergency Evacuation (OSEE) v.

City of Orinda Litigation
Recommendation:

Review, discuss, and provide direction to staff as appropriate regarding correspondence from Nicholas Waranoff.

City Attorney Osa Wolff referred to the staff report and pointed out that the Council received subsequent correspondence from Mr. Waranoff which is labeled Public Forum on the handout, but it is actually for this item.

Ms. Wolff said she can take questions if Councilmembers want more details at the end of this, and asked to focus on commenting about settlements and the Brown Act. The law is important and it is important that the City comply. She then provided an overview of the Brown Act, described the Trancas case that provides an exception where cities cannot, through a bilateral settlement agreement, circumvent an extrinsic public hearing requirement. State law requires a public hearing for certain land use decisions so it is not a proper term for a settlement. The OSEE settlement is very different which she described and is not problematic under the Trancas case. She did not find any case extending Trancas to terms like those in the OSEE settlement.

In addition to tonight’s item which is to allow the Council the opportunity to review, discuss, provide direction about the Brown Act correspondence, there are two more items on tonight’s agenda. They are referenced in the settlement agreement, but they are also things the Council has authority to act on regardless of whether there was ever a settlement. Item H.3 has to do with SSTOC Bylaws and some proposed amendments.

Item H.4 is to consider proposed agreement with Ladris for modeling.

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In terms of process for this item, she recommended the Council ask her any questions, take public comment, close the public comment, then table this item, go to the other two items, and if the Council would like to take this back up again immediately following those items or in the future, the Council may do that. Staff is not seeking definitive Council direction tonight on this item. It is primarily informational.

There were no questions of Councilmembers.

Mayor Malkani noted receipt of public comments from Mr. Waranoff the Council received. She opened the Public Forum, and there were no speakers. She closed the Public Forum and asked if there was any discussion on the matter.

Councilmember Riley asked if a decision could be made as a way to proceed.

Ms. Wolff stated if the Council has heard all the update they need to receive and do not need to receive any more, the Council can move on from this and not table it.

Mayor Malkani said she would like to table it, and made a motion.

MOTION by Mayor Malkani, and seconded by Vice Mayor Iverson, to table Item H.2.

Said motion carried by unanimous (5-0) vote
H.3. Consider Amendments to the Supplemental Sales Tax Oversight Commission (“SSTOC”) Bylaws
Recommendation:

Approve Resolution No. 43-25 Amending the Bylaws for the Supplemental Sales Tax Oversight Commission.

City Manager Smith gave the staff report and overview of the item for the Council to consider amendments to the SSTOC Bylaws to provide clarity on their role with emergency evacuation planning, response, and improvements.

Councilmember Hoxie asked and confirmed that the Bylaw changes are in compliance with the original way the SSTOC was established.

Mayor Malkani opened the Public Forum, and there were no speakers. She then closed the Public Forum.

Mayor Malkani commented that the amendments serve to provide great clarity and emphasize the importance of evacuation. Councilmembers agreed.

MOTION by Councilmember Gee, and seconded by Councilmember Hoxie, to approve Resolution No. 43-25 amending the Bylaws for the Supplemental Sales Tax Oversight Commission. Said motion carried by unanimous (5-0) vote.

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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) Orinda City Council Minutes Page 17 of 19 07.15.25
H.4. Agreement with Ladris for Evacuation and Wildfire Modeling Services and Software
Recommendation:

Approve a one-year agreement with Ladris for evacuation and wildfire modeling services and software, approve a Budget Change Form #003- 26, and confirm the contract is exempt from competitive bidding.

City Manager Smith gave the staff report and overview of the item, noting it is a way to satisfy the requirements of the settlement agreement with OSEE while also being an appropriate next step for this organization to bolster their continual disaster planning and response efforts. The item is also responsive to one of the City’s strategic initiatives to use emerging technologies to guide strategic investments in fuel mitigation and evacuation efforts, which she described.

Vice Mayor Iverson asked when the City might be able to see some of the things the software can do.

City Manager Smith said they will start at the end of next month, and the consultant commented that the City should start to see very useful scenarios within one month.

Once the team is fully trained, they have a 60-day implementation set up and have more in-depth results 60 days after that.

Mayor Malkani opened the Public Forum, and there were no speakers. She then closed the Public Forum.

Mayor Malkani and Councilmembers voiced excitement that the City and public will be able to engage with this and thinks it is a helpful tool.

EXTEND MEETING
MOTION by Mayor Malkani, and seconded by Vice Mayor Iverson, to extend the Council meeting to 11:00 p.m. Said motion carried by unanimous (5-0) vote.

MOTION by Councilmember Gee, and seconded by Councilmember Hoxie, to approve a one-year agreement with Ladris for evacuation and wildfire modeling services and software, approve a Budget Change Form #003-26, and confirm the contract is exempt from competitive bidding. Said motion carried by unanimous (5-0) vote.

City Attorney Wolff asked if the Council would like to remove Item H.2 off the table for any further deliberation or direction to staff or she asked if the Council wished to leave it as is.

Mayor Malkani and Councilmembers said they did not feel the need for further deliberation, and moved to the next item.

H.5. Filling Vacancies on the Planning Commission, Arts in Public Places Committee, and Finance Advisory Committee
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Recommendation:

Consider approval of the Mayor's recommendations for Planning Commission (Brenda Davis) and Arts in Public Places (Harmony Anderson) and provide direction on the appointment of Jay Selwitz to the Finance Advisory Committee.

City Clerk Sheri Smith gave the staff report and overview of the Mayor’s recommendations for a Planning Commissioner, an Arts in Public Places Committee member, as well as consideration of a Finance Advisory Committee member.

Mayor Malkani opened the Public Forum, and there were no speakers.

MOTION by Vice Mayor Iverson, and seconded by Councilmember Hoxie, to approve the Mayor’s recommendation for Planning Commission (Brenda Davis) and Arts in Public Places (Harmony Anderson) and provide direction on the appointment of Jay Selwitz to the Finance Advisory Committee. Said motion carried by unanimous (5-0) vote.

H.6. Board of Forestry Update on Draft Regulations for Zone Zero Recommendation:

Receive the update on the Board of Forestry efforts to establish statewide zone zero regulations and provide direction to Staff, as needed.

Senior Management Analyst Mickie Cronin reported that the Board of Forestry, under a directive from Governor Newsom, is updating wildfire safety regulations to be adopted by December 31, 2025. The focus is on creating “Zone Zero,” a 5-foot ember-resistant zone around structures. Grass will be prohibited in this area, though city staff argue this lacks scientific backing. Potted plants and some trees may be allowed with restrictions.

Drought-tolerant, fire-resistant materials like gravel and stone are encouraged. Public comments are ongoing, with the next Board meeting set for July 24th.

Councilmember Gee asked if the City is planning to send comments to the Board of Forestry, and City Manager Smith said the Council should and could comment on the grass question and whether there is concurrence or not.

Mayor Malkani opened the Public Forum, and there were no speakers. She closed the Public Forum.

Councilmember Gee asked if MOFD provided official comments. City Manager Smith was unsure but did speak with staff about some of the regulations.

Mayor Malkani referred to the grass issue, and she confirmed with Ms. Cronin that Chief Isaacs is following this closely.

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Mayor Malkani said she is in favor of sending a letter, and if MOFD leadership were to say succulents do not pose a fire danger, given they are more drought tolerant than grass, this could also be addressed in the letter. But, unless they have a similar decision, she would not include it.

Councilmember Riley said the Council could make this decision on its own, and Mayor Malkani said she would defer to them on fire science items.

Councilmember Riley said there is no talk about what the house is made of, and if it is stone or brick, there should be an exception. She has never heard or has seen anything about this here.

City Manager Smith said there are many homes with a base of brick, concrete or stone, but if the entire house is made of it that might be one thing, but often times materials are only to a certain point where embers can get in.

Mayor Malkani said at this point because the Council cannot confirm certain things, she would be comfortable sending the letter about the lawn.

Vice Mayor Iverson said she would defer to staff more broadly. The first time this came up, they realized MOFD’s mandate is fire suppression and to some extent, prevention.

The City’s is more broadly community interest. She did not think there was time to build consensus and would like to defer to staff to add to the letter with things they and SSTOC feel are appropriate.

Councilmembers agreed, and City Manager Smith confirmed she had direction.

I. COUNCILMEMBER REPORTS – None.

J. CITY MANAGER'S REPORT – None.

K. MATTERS INITIATED – None.

L. ADJOURNMENT
The Regular Meeting was adjourned at approximately 10:58 p.m. to the City Council Meeting on Tuesday, August 19, 2025 at 6:00 p.m.
______________________________________
Sheri Marie Smith, City Clerk
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Attachment: City Council Minutes of July 15, 2025 (3685 : Minutes Approval) City Council
Staff Report
Agenda Item: F.2
Date: August 19, 2025
Department:

Public Works and
Engineering Services
AGENDA TITLE: Policy for the Display of Banners on City Street Light Poles in Downtown Areas
RECOMMENDATION:

Adopt Resolution No. 46-25, Approving a Banner Display Policy on City Street Light Poles.

BACKGROUND:

At its May 16, 2017 meeting, City Council approved Resolution No. 49-17, which formally established a banner policy governing display of banners on City-owned street light poles in the downtown section of the City. The policy had a sunset date of May 16, 2019.

DISCUSSION:

The City continues to utilize the policy following its original adoption, and even after the sunset date, with favorable results. There are requests for such banners from time to time, and it is useful to have a policy in place to address these requests. Therefore, Staff recommends the policy be confirmed, with no sunset date, by adoption of Resolution No. 46-25. The policy described in subject Resolution No. 46-25 is identical to that in Resolution 49-17, except that there is no sunset date.

NEXT STEPS:

The City will continue to allow temporary placement of banners that meet the policy.

FISCAL IMPACT:

No significant impact. The policy allows for fees for encroachment permit cost recovery.

ATTACHMENTS:

A. Resolution 46-25 Approving the Banner Display Policy for Street Light Poles B. Resolution 49-17 (Previous Banner Policy)
Respectfully Submitted by:

Scott Christie
Public Works Director
Prepared By: Scott Christie, Public Works Director
Approved by:

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1 RESOLUTION NO. 46-25

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORINDA

APPROVING THE BANNER DISPLAY POLICY ON STREET LIGHT POLES WHEREAS, the City wishes to memorialize its historic policy of allowing community groups to display banners promoting public events in and near Orinda on City-owned street light poles in the Downtown area; and WHEREAS, on May 16, 2017 a Banner Policy was formally established by adoption of Resolution 49-17, which had a sunset date of May 16, 2019; and WHEREAS, the Policy described in this Resolution is intended to govern a limited public forum and impose reasonable time, place, and manner restrictions on the display of banners on City poles in the Downtown, not impose any constitutionally impermissible restrictions; and
WHEREAS, the Policy described in this Resolution covers only the Downtown poles inventoried and mapped by City Staff; and
WHEREAS, the inventory (available from the Public Works & Engineering Services Department) also notes which poles can accommodate City flags; and WHEREAS, the Policy described in this Resolution excludes banners at the BART overcrossing and Library, which are governed by other procedures/entities; and WHEREAS, the Policy described in this Resolution also excludes flags displayed on City poles, which display is entirely controlled by the City, not available for displays by others; and
WHEREAS, the Policy described in this Resolution is identical to that in Resolution 49-17, except that there is no sunset date.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orinda does hereby approve the Banner Display Policy on street light poles in the Downtown, described as follows:

1. Physical display: The following requirements and procedures apply to protect City infrastructure, promote public health/safety, and address potential aesthetic concerns:
a. Maximum banner size: 36" wide by 84" tall.
b. Bottom bracket minimum 15' above the surface of the roadway and 12' above the level of the sidewalk
c. Maximum percentage of banner used for sponsor name = 15% at bottom, with lettering no taller than 12"
d. Banners may be displayed regardless of whether a flag is concurrently displayed by the City on the same pole
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Attachment: Resolution 46-25 Approving the Banner Display Policy for Street Light Poles (3682 : Banner Display Policy) 2 e. Banners must be in good condition at all times during display (not torn, faded, etc.).

2. Fairness: The following requirements and procedures apply to ensure the City’s process for dealing with requests to display banners (including potential competing requests) is fair and transparent :
a. Banner display applications that comply with this policy will be approved ministerial by staff.
b. Only one applicant’s banners may be on display at any given time, subject to the following exception. When a banner display has been requested and approved for just one side of the downtown (either north or south of the freeway), a separate, concurrent banner display request may be approved for the other side of the downtown.
c. Complete applications will be reviewed and approved in the order received, with applications accepted no more than 6 months in advance of the intended display date.
d. Banners must relate to an event to which the Orinda community is invited and that takes place at least partly in, or within ½ mile of Orinda. e. Maximum display time is 70 days, calculated as follows: display commencing no more than 30 days prior to event and concluding no more than 10 days after event, with a maximum event length of 30 days. f. Maximum number of banners displayed: 50
g. Minimum number of banners displayed: 6

3. Permitting & Logistics:
a. Banners must be installed by a qualified, insured installer. b. Banners require a standard City encroachment permit, including indemnification for the City.
c. The Public Works & Engineering Services Department will:
i. administer this policy
ii. keep the banner display calendar
iii. accept/process banner permit applications
iv. accept/process the associated encroachment permit applications d. All banner display applicants must pay fees for City processing of banner display/encroachment applications permit, which fees will be set at the level necessary for full City cost recovery.

Adopted by the City Council of the City of Orinda at a regular meeting held on August 19, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:

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Attachment: Resolution 46-25 Approving the Banner Display Policy for Street Light Poles (3682 : Banner Display Policy) 3 ________________________________
Latika Malkani, Mayor
ATTEST:
___________________________
Sheri Marie Smith, City Clerk
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Attachment: Resolution 46-25 Approving the Banner Display Policy for Street Light Poles (3682 : Banner Display Policy)

BEFORE THE CITY COUNCIL OF THE CITY OF ORINDA
In the Matter of:
)
Approving a City of Orinda)
Banner Display Policy )
)
Resolution No. 49-17
WHEREAS, the City wishes to memorialize its historic policy of allowing community groups to display banners promoting public events in and near Orinda on City poles in the downtown;
WHEREAS, in an effort to formalize the banner display approval process and ensure its policy regarding banner display is fair and transparent, the City solicited input from interested members the public, met with stakeholders, review policies from other communities, and held public discussions at the July 5, 2016 and April 18, 2017 Council meetings;
WHEREAS, the policy described in this resolution is intended to govern a limited public forum and impose reasonable time, place, and manner restrictions on the display of banners on City poles in the downtown, not impose any constitutionally impermissible restrictions;
WHEREAS, the policy described in this resolution covers only the downtown poles inventoried and mapped by City Staff;
WHEREAS, the Staff inventory (available from the Public Works & Engineering Services Department) also notes which poles can accommodate City flags; WHEREAS, the policy described in this resolution excludes banners at the BART overcrossing and Library, which are governed by other procedures/entities; WHEREAS, the policy described in this resolution also excludes flags displayed on City poles, which display is entirely controlled by the City, not available for displays by others;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orinda as follows:

1. Physical display: The following requirements and procedures apply to protect City infrastructure, promote public health/safety, and address potential aesthetic concerns:
a. Maximum banner size: 36" wide by 84" tall.
b. Bottom bracket minimum 15' above the surface of the roadway and 12' above the level of the sidewalk
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Attachment: Resolution 49-17 (Previous Banner Policy) (3682 : Banner Display Policy) c. Maximum percentage of banner used for sponsor name = 15% at bottom, with lettering no taller than 12"
d. Banners may be displayed regardless of whether a flag is concurrently displayed by the City on the same pole
e. Banners must be in good condition at all times during display (not torn, faded, etc.).

2. Fairness: The following requirements and procedures apply to ensure the City's process for dealing with requests to display banners (including potential competing requests) is fair and transparent:
a. Banner display applications that comply with this policy will be approved ministerial by staff.
b. Only one applicant's banners may be on display at any given time, subject to the following exception. When a banner display has been requested and approved for just one side of the downtown (either north or south of the freeway) a separate, concurrent banner display request may be approved for the other side of the downtown.
c. Complete applications will be reviewed and approved in the order received, with applications accepted no more than 6 months in advance of the intended display date.
d. Banners must relate to an event to which the Orinda community is invited and that takes place at least partly in, or within Y2mile of, Orinda. e. Maximum display time = 70 days, calculated as follows: display commencing no more than 30 days prior to event and concluding no more than 10 days after event, with a maximum event length of 30 days. f. Maximum number of banners displayed: 50
g. Minimum number of banners displayed: 6

4. 2019 Policy Sunset: this policy shall remain in effect for two years following adoption and shall thereafter be reviewed by the Council for possible changes.

Adopted by the City Council of the City of Orinda at a regular meeting held on May 16, 2017, by the following vote:

AYES:

NOES:

ABSENT:

COUNCILMEMBERS: Gee, Miller, Orr, Phillips, Worth
COUNCILMEMBERS: None
COUNCILMEMBERS: None
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Attachment: Resolution 49-17 (Previous Banner Policy) (3682 : Banner Display Policy) ABSTAIN: COUNCILMEMBERS: None
872227.1
Eve Phillips, Mayor
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Attachment: Resolution 49-17 (Previous Banner Policy) (3682 : Banner Display Policy) City Council
Staff Report
Agenda Item: F.3
Date: August 19, 2025
Department: Finance
AGENDA TITLE: Quarterly Investment Report for Quarter Ending June 30, 2025 RECOMMENDATION:

Accept the Quarterly Investment Report for the period ending June 30, 2025.

BACKGROUND:

The City’s adopted Investment Policy provides that the City Treasurer will submit a report on the City's investments to the Council on a quarterly basis. The policy also specifies the information that is to be reported. This report covers the period from April 1, 2025, through June 30, 2025.

The City of Orinda uses Chandler Asset Management (Chandler), an independent fiduciary advisor, to manage a portion of its portfolio. The funds under management by Chandler are managed as a Reserve Portfolio. The City’s strategy is to retain sufficient cash flow to manage day-to-day operations and have Chandler focus on longer-term investment management. All investments, managed by Chandler, are held by the City in a safekeeping account through US Bank.

The City also uses the Local Agency Investment Fund (LAIF), which is a pooled investment managed by the State Treasurer. This investment provides relatively liquid access to balances, with a limit of 15 transactions per month. The cost value shown for the City’s LAIF investment represents the City’s contractual rights to its LAIF account and does not represent the value of the underlying portfolio securities.

In addition, on May 7, 2024, the City opened a Money Market account with Mechanics Bank which has a limit of five transactions per month to manage liquidity.

The Governmental Accounting Standards Board Statement 31 (GASB 31) requires the City to recognize the fair market value of its investments at the end of each fiscal year.

The market values are obtained from the State Controller’s office for Local Agency Investment Funds (LAIF), and from Chandler for the Reserve Portfolio. The difference between market value and cost as of June 30, 2025, will be reflected in the City’s financial statements for Fiscal Year 2024-25 as an adjustment to interest income for each of the City’s funds on a pro-rata basis as required by GASB 31. Market values change daily and the change in market value is considered temporary in nature, as the City mostly holds its investments until maturity, when they can be redeemed at par value.

DISCUSSION:

The quarterly report prepared by Chandler (Attachment A) for the quarter ending on F.3
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June 30, 2025, provides the following information about the risk characteristics of the City's reserve portfolio:
1) Economic Update - provides a general economic background on key indicators that may impact the investment results. This information is useful in evaluating the performance of the portfolio as well as expected trends. (Attachment A pages 2-13).
2) Account Profile - describes the objectives and strategy used for the portfolio, compliance with the adopted Investment Policy, and key data related to the issuers. This section breaks down the reserve portfolio to provide key performance data. (Attachment A pages 14-27). A schedule on pages 16-18 displays whether holdings are in compliance with the California State Government Code and the City’s Investment policy.
3) Portfolio Holdings - provides details for each security held in the portfolio including purchase date, maturity date, market value, and rating. (Attachment A pages 28-36)
4) Transactions - show all purchases, sale of holdings and maturity for each month in the quarter. The Transaction Data included in the report displays all transactions including the settlement date. (Attachment A pages 37-39) The attached monthly Local Agency Investment Fund (LAIF) statements and Money Market account statements provide a listing of monthly transactions and balances.

Detailed investment information for LAIF can be found on the California State Treasurer's website (www.treasurer.ca.gov/pmia-laif/pmia).

All investment categories in the portfolio comply with the City’s Investment Policy and the Government Code in terms of allowed investments. The comparison information provided below is based on the market value of investments. The market value will vary both up and down from the original cost. For the most part, the City tends to hold most securities until maturity.

As shown below, the City had approximately $42 million (book value) invested as of June 30, 2025, and it was divided between investments in the State Treasurer Local Agency Investment Fund (LAIF), Money Market account, and funds managed by Chandler investments.

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Investment Type Cost Value Book Value
Market
Value
Unrealized
Gain/Loss
Purchase
Yield/
Annual
Percentage
Yield Maturity
% of Total
Portfolio
based on
Market
Value
Rating
(Moody's/ S&P/
Fitch)*
Reserve Portfolio (Managed By Chandler)
Asset Backed Securities $ 1,362,449 $ 1,362,677 $ 1,373,613 $ 10,936 4.80% 3.56 3.3% AAA/AAA/AAA** US Agencies 2,593,539 2,602,357 2,635,713 33,356 4.36% 2.13 6.3% AA/AA/AA US Agencies CMBS 530,602 537,855 543,350 5,495 4.46% 2.79 1.3% AA/AA/AA+ Money Market 76,215 76,215 76,215 - 3.96% - 0.2% AAA/AAA/AAA Supranational (multi-national agency note) 373,654 375,571 380,187 4,615 4.30% 2.91 0.9% AAA/AAA/ NA Corporate Notes 2,654,026 2,673,545 2,694,566 21,021 4.65% 2.18 6.4% A/ A/ A** US Treasuries 4,027,517 4,091,473 4,110,394 18,921 3.65% 1.72 9.7% AA/AA/AA Cash 286 286 286 - 0.00% - 0.0% AAA/ AAA/ AAA
Subtotal Reserve Portfolio 11,618,288 11,719,979 11,814,323 94,344 4.23% 2.21 28.0% A+/AA-/A LAIF 19,035,571 19,035,571 19,058,382 22,811 4.41% 0.69 45.2% NA/ NA/ NA Money Market Account 11,296,269 11,296,269 11,296,269 - 4.52% - 26.8% NA/ NA/ NA Total Investments $41,950,129 $42,051,820 $42,168,974 $ 117,155 4.38% 0.92 100.0% * Weighted by: Market Value
** Some securities are not rated by Moody or S&P or Fitch June 30, 2025
It is appropriate to keep in mind that the portfolio reflects all funds and is not limited to the General Fund. The City operates with a system of pooled cash which includes Restricted Funds, Debt Service Funds, Capital Project Funds, as well as the General Fund.

Portfolio Performance
The overall average purchase yield to maturity on the entire portfolio was 4.38%. The reported purchase yield was 4.0% one year ago (Quarter ending June 30, 2024). These figures relate to the combined portfolio, including LAIF, Money Market account, and the Reserve funds managed by Chandler. The average purchase yield for the Reserve portfolio managed by Chandler is 4.23% (page 19), which is trending up from 4.07% in the prior quarter.

The following excerpt from page 13 of Attachment A shows the increase in US Treasury Notes since 2020, and especially with the shorter-term investments (dotted line is the two-year Treasury) which stayed almost flat between June 2020 and September 2021.

Starting from September 2021, the two-year treasury yield has been rising and peaked in October 2023 at 5.19%. Since then, the two-year yield has been trending downwards and was 3.72% on June 30, 2025.

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An important consideration for public funds is the safety of investments. The investments owned by the City are of a high quality as required by the Investment Policy.

As a reminder, the City cannot invest in bonds with a maturity of more than five years.

The weighted average maturity of the City’s entire portfolio is 0.92 years compared to the benchmark (ICE BofA 1-3 Year US Treasury & Agency Index) maturity guiding the portfolio selection of 1.85 years. As of June 30, 2025, the Reserve portfolio managed by Chandler had a longer average maturity of 2.21 years (Page 19).

The City maintains liquidity using LAIF and the Money Market account combined with cash in its checking account to protect against the need to liquidate an investment before maturity.

Investment transactions were executed in accordance with the California State Government Code and the City’s Investment Policy. The City Treasurer believes the pooled cash and investments contain sufficient cash flow liquidity to meet the next six months of expected expenditure.

FISCAL IMPACT:

There is no fiscal impact on accepting this quarterly investment report.

ATTACHMENTS:

A. Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) B. LAIF Statements Apr 2025 - Jun 2025
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C. Money Market Account Statements Apr 2025 - Jun 2025
Respectfully Submitted by:

Douglas Alessio
Assistant City Manager
Prepared By: Bhavna Chaudhary,
Approved by:

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INVESTMENT REPORT
City of Orinda | As of June 30, 2025
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

TABLE OF CONTENTS
City of Orinda Reserve Portfolio | As of June 30, 2025

ECONOMIC UPDATE

ACCOUNT PROFILE

PORTFOLIO HOLDINGS

TRANSACTIONS
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

ECONOMIC UPDATE
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly ▪▪▪
Recent economic data suggest slower growth in 2025 and greater market uncertainty as the effects of fiscal policy unfold. Inflationary trends have subsided, but some components remain sticky, and core levels remain above the Fed’s target. The labor market reflects improved balance between supply and demand for workers. While job creation has been robust, continuing jobless claims remain elevated.

Given the economic outlook, we expect gradual normalization of monetary policy and a steepening yield curve.

As broadly anticipated, the Federal Open Market Committee (FOMC) left the Federal Funds Rate unchanged at the range of 4.25 - 4.50% at the June meeting. Fed Chair Powell continued to emphasize the Committee’s “wait and see” approach amidst economic uncertainty that remains elevated but diminished. Federal Reserve officials continued to pencil in two rate cuts in 2025.

US Treasury yields declined in June. The 2-year Treasury yield fell 18 basis points to 3.72%, the 5-year Treasury dropped 17 basis points to

3.80%, and the 10-year Treasury yield also declined 17 basis points to 4.23%. The spread between the 2-year and 10-year Treasury yield points on the curve edged up to +51 basis points at June month-end versus +50 basis points at May month-end. The spread between the 2- year Treasury and 10-year Treasury yield one year ago was -36 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was -7 basis points in June, versus -6 basis points in May.

ECONOMIC UPDATE
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly -400
-2000
200
400
600
800
1,000
MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 147,000 jobs in June, exceeding consensus expectations, and the last two months were revised up by 16,000.

Gains were primarily driven by state and local government education, while job growth in service sectors languished. The three-month moving average and six-month moving average payrolls totaled 150,000 and 130,000 respectively. The unemployment rate declined to

4.1% in June from 4.2% in May, due to a shrinking labor force. The labor participation rate dipped to 62.3%, remaining below the prepandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons dropped to 7.7% in June. Average hourly earnings fell slightly, marking a 3.7% year-over-year increase.

Source: US Department of Labor Source: US Department of Labor

EMPLOYMENT
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly 0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average In Thousands (000's) The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) unexpectedly rose to 7.77 million new job openings in May from

7.40 million in April. Layoffs declined and the quits rate increased. Job openings indicate a ratio of approximately 1.1 jobs for each unemployed individual, representing a relatively balanced labor market.

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

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

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
Fed Target
YOY (%) Change
In May, the Consumer Price Index (CPI) cooled slightly more than consensus expectations. The headline CPI increased 0.1% month-overmonth and rose 2.4% year-over-year, while the Core CPI rose 0.1% month-over-month and 2.8% year-over-year. The Personal Consumption Expenditures (PCE) price index increased 0.1% month-over-month and rose 2.3% year-over-year in May. The Core PCE deflator, which excludes food and energy and is the Fed’s preferred gauge, increased 0.2% month-over-month and 2.7% year-over-year, up from April’s

2.6% year-over-year increase. Inflation is hovering above the Fed’s 2% target.

Source: US Department of Labor Source: US Department of Commerce

INFLATION
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly -10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
Advance Retail Sales were down 0.9% month-over-month in May, further slowing from a downwardly revised -0.1% in April. Declines were led by auto sales, building materials, garden equipment and supplies, and spending at restaurants and bars fell by the most since early 2023. Control group sales, which feed into GDP, were the only bright spot in the report, with a 0.4% increase. On a year-over-year basis, Retail Sales grew 3.3% in May following a 5.0% increase in April. The Conference Board’s Consumer Confidence Index dropped to 93.0 in June from 98.4 in May, as consumers’ assessment of both the current situation and future expectations for income and labor markets soured. While the consumer has been resilient, elevated inflation expectations, concerns about trade policies and tariffs, and general economic and policy uncertainty could pose potential risks to future spending.0 20 40
60 80
100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)

CONSUMER
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly -25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) fell by 0.1% in May, following a downwardly revised 1.4% decline in April. The LEI decreased by 4.0% year-over-year. The rebound in the stock market was the primary positive contributor, offset by consumer pessimism, weak new orders in manufacturing, the second consecutive month of rising initial unemployment claims, and a drop in housing permits.

The Chicago Fed National Activity Index (CFNAI) improved to -0.28 in May from a downwardly revised -0.36 in April. The three-month moving average dropped to -0.16 in May from 0.06 in April, indicating slightly below trend growth.

Source: The Conference Board Source: Federal Reserve Bank of Chicago

LEADING INDICATORS OF ECONOMIC ACTIVITY
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly 0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing starts declined 9.8% month-over-month in May to a seasonally adjusted annual rate of 1.256 million units. Single family starts increased 0.4% above the revised April figures, whereas multi-family starts fell -30.4%. Total starts dropped 4.6% compared to May 2024.

Homebuilder confidence is shaky due to elevated mortgage rates, affordability constraints, and a weakening economic outlook. The Freddie Mac 30-year fixed rate mortgage averaged approximately 6.8% in June. According to the Case-Shiller 20-City Home Price Index, housing prices rose 3.4% year-over-year in April, compared to 4.1% in March. Limited inventory, elevated mortgage rates, and lack of affordability continue to weigh on the housing market.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change

HOUSING
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly 40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Supply Management (ISM) Manufacturing index edged up to 49.0 in June from 48.5 in May, indicating a continuation of modest contraction in the sector. Inventories and production improved as companies worked through backlogs, while employment and new orders contracted. The ISM Services index increased to 50.8 in June from 49.9 in May, as new orders improved. However, ongoing concerns about the impact of tariffs remain. A reading over 50 indicates expansion, while a reading under 50 indicates contraction.

Source: Institute for Supply Management

SURVEY BASED MEASURES
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly Components of GDP 6/24 9/24 12/24 3/25

1.9% 2.5% 2.7% 0.3%

1.5% 0.2% -1.0% 3.9%
-0.9% -0.4% 0.3% -4.6%

0.3% 0.6% 0.3% -0.3%

0.3% 0.3% 0.3% 0.2%

3.0% 3.1% 2.5% -0.5%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment) -40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce Real GDP decreased at an annualized rate of 0.5% in the first quarter of 2025, according to the third and final estimate from the Bureau of Economic Analysis, a downward revision from the previously estimated 0.2% decline. This marks the first negative quarter since 2022.

The primary driver of the downward revision was weaker personal consumption expenditures. Net exports remained the primary drag on growth, as imports rose sharply in anticipation of higher tariffs. Gross investment contributed positively, powered by business decisions to get ahead of possible cost increases. The consensus projection calls for 2.1% growth for the second quarter and 1.5% for the full year 2025.

GROSS DOMESTIC PRODUCT (GDP)
11 F.3.a
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly Source: Federal Reserve Source: Bloomberg 0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
As broadly anticipated, the Federal Open Market Committee (FOMC) left the Federal Funds Rate unchanged at the range of 4.25 - 4.50% at the June meeting. In the Summary of Economic Projections (SEP), Federal Reserve officials continued to pencil in two rate cuts in 2025, while downgrading estimates for economic growth and raising forecasts for both unemployment and inflation this year. The statement indicated that uncertainty about the economic outlook remained elevated but had diminished. The monthly redemption cap on Treasuries will remain at $5 billion, while the cap on agencies and mortgage-backed securities will be maintained at $35 billion. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by about $2.2 trillion to approximately $6.7 trillion.

FEDERAL RESERVE

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

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

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Jun-25
Mar-25
Jun-24
Yield (%)
At the end of June, the 2-year Treasury yield was 103 basis points lower, and the 10-Year Treasury yield was 17 basis points lower, yearover-year. The spread between the 2-year and 10-year Treasury yield points on the curve edged up to +51 basis points at June month-end versus +50 basis points at May month-end. The recent yield curve inversion which began in July 2022 was historically long. The average historical spread (since 2005) is about +99 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was -7 basis points in June, versus -6 basis points in May.

BOND YIELDS
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

ACCOUNT PROFILE
14 F.3.a
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

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

Chandler Asset Management Performance Objective
The performance objective for the portfolio isto earn a total rate of return over a market cycle that equals or exceeds the benchmark, the ICE BofA 1-3 Year US Treasury and Agency Index.

Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed income securities consistent with the investment policy and California Government Code. 15 F.3.a
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

STATEMENT OF COMPLIANCE
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max% (MV) 20.0 4.6 Compliant
Max Maturity (Years) 5.0 4.2 Compliant

ASSET-BACKED SECURITIES (ABS)
Max% (MV) 20.0 11.6 Compliant
Max% Issuer (MV) 5.0 1.0 Compliant
Max Maturity (Years)54 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max% (MV) 40.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by1 orA- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)
Max% (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-

NEGOTIABLE CD/TD)
Max% (MV; FDIC& Collateralized CD) 20.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3.0 0.0 Compliant

COMMERCIAL PAPER
Max% (MV) 25.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by1 orA- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max% (MV) 30.0 22.8 Compliant
Max% Issuer (MV) 5.0 1.4 Compliant
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

STATEMENT OF COMPLIANCE
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years)54 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max% (MV; FDIC& Collateralized CD) 20.0 0.0 Compliant
Max Maturity (Years)3 0.0 Compliant

FEDERAL AGENCIES
Max% (MV) 100.0 22.3 Compliant
Max% Issuer (MV) 25.0 11.1 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years)53 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max% (MV; Money Market Fund& Mutual Fund) 20.0 0.6 Compliant Max% Issuer (MV) 20.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max% (MV) 20.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max% (MV) 30.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max% (MV) 30.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
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Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

STATEMENT OF COMPLIANCE
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max% (MV; Money Market Fund& Mutual Fund) 20.0 0.6 Compliant Max% Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max% (MV) 30.0 0.0 Compliant
Max% Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A-1 by1 orA- by1 if> FDIC Limit) 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max% (MV) 30.0 3.2 Compliant
Max% Issuer (MV) 10.0 2.3 Compliant
Max Maturity (Years)54 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max% (MV) 100.0 34.8 Compliant
Max% Issuer (MV) 100.0 34.7 Compliant
Max Maturity (Years)54 Compliant
18 F.3.a
Packet Pg. 57
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

PORTFOLIO CHARACTERISTICS
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Benchmark* 6/30/2025
Portfolio
3/31/2025
Portfolio
Average Maturity (yrs) 1.85 2.21 2.13
Average Modified Duration 1.76 1.81 1.82
Average Purchase Yield 4.23% 4.07%
Average Market Yield 3.80% 4.01% 4.14%
Average Quality** AA+ AA+ AA+
Total Market Value 11,904,365 11,751,122
*Benchmark: ICE BofA1-3 Year US Treasury& Agency Index
**The credit quality isa weighted average calculation of the highest of S&P, Moody’s and Fitch. 19 F.3.a
Packet Pg. 58
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

SECTOR DISTRIBUTION
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Sector asa Percentage of Market Value
Sector 06/30/2025 03/31/2025
US Treasury 34.79% 35.68%
Corporate 22.81% 22.72%
Agency 22.31% 24.46%
ABS 11.63% 8.68%
Agency CMBS 4.60% 4.63%
Supras 3.22% 3.24%
Money Mkt Fd 0.65% 0.58%
20 F.3.a
Packet Pg. 59
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

DURATION ALLOCATION
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 0-.25 .25-.5 .5-1 1-22-33-44-55-7 7+
06/30/2025 6.7% 5.9% 5.7% 40.0% 35.0% 4.0% 2.8% 0.0% 0.0% 21 F.3.a
Packet Pg. 60
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly 0 -.25 .25-.5 .5-11-22-33-44-55-7 7+
Portfolio 6.7% 5.9% 5.7% 40.0% 35.0% 4.0% 2.8% 0.0% 0.0% ICE BofA1-3 Year US Treasury & Agency Index 0.0% 0.1% 4.1% 57.4% 38.4% 0.0% 0.0% 0.0% 0.0%

DURATION DISTRIBUTION
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Portfolio Compared to the Benchmark
22 F.3.a
Packet Pg. 61
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

ISSUERS
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Issuer Investment Type% Portfolio
Government of The United States US Treasury 34.79%
Federal Home Loan Banks Agency 11.13%
Farm Credit System Agency 10.13%
FHLMC Agency CMBS 4.60%
International Bank for Recon and Dev Supras 2.28%
PACCAR Inc Corporate 1.44%
BMW Vehicle Owner Trust ABS 1.35%
BlackRock, Inc. Corporate 1.29%
Honda Motor Co., Ltd. Corporate 1.28%
JPMorgan Chase& Co. Corporate 1.26%
Royal Bank of Canada Corporate 1.24%
National Rural Utilities Cooperative Corporate 1.23%
The Home Depot, Inc. Corporate 1.20%
Honda Auto Receivables Owner Trust ABS 1.19%
Mercedes-Benz Auto Lease Trust ABS 1.15%
American Express Company Corporate 1.11%
BMW Vehicle Lease Trust ABS 1.10%
Cisco Systems, Inc. Corporate 1.07%
Deere& Company Corporate 1.06%
Mastercard Incorporated Corporate 1.06%
Northern Trust Corporation Corporate 1.06%
FNMA Agency 1.05%
Chubb Limited Corporate 1.05%
UnitedHealth Group Incorporated Corporate 1.03%
Toyota Motor Corporation Corporate 1.03%
Chase Issuance Trust ABS 1.02%
Bank of America Corporation Corporate 1.02%
Amazon.com, Inc. Corporate 1.00%
Hyundai Auto Receivables Trust ABS 0.98%
International Finance Corporation Supras 0.94%
23 F.3.a
Packet Pg. 62
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

ISSUERS
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Issuer Investment Type% Portfolio
American Express Credit Master Trust ABS 0.86%
Caterpillar Inc. Corporate 0.86%
GM Financial Securitized Term ABS 0.86%
WF Card Issuance Trust ABS 0.81%
Toyota Auto Receivables Owner Trust ABS 0.81%
First American Govt Oblig fund Money Mkt Fd 0.65%
State Street Corporation Corporate 0.64%
Eli Lilly and Company Corporate 0.64%
Ford Credit Auto Owner Trust ABS 0.60%
Bank of America Credit Card Trust ABS 0.47%
The Toronto-Dominion Bank Corporate 0.47%
PepsiCo, Inc. Corporate 0.39%
Target Corporation Corporate 0.38%
GM Financial Automobile Leasing Trus ABS 0.37%
John Deere Owner Trust ABS 0.04%
Cash Cash 0.00%
TOTAL 100.00%
24 F.3.a
Packet Pg. 63
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

QUALITY DISTRIBUTION
Rating 06/30/2025 03/31/2025
AAA 14.0% 11.2%
AA 64.0% 67.1% A 19.5% 19.4%
NA 2.5% 2.2%
Rating 06/30/2025 03/31/2025
AAA 10.54% 73.86%
AA 64.29% 3.66% A 19.23% 19.09%
NA 5.94% 3.38%
Rating 06/30/2025 03/31/2025
AAA 11.56% 8.75%
AA 64.78% 66.73% A 10.01% 11.06%
NA 13.64% 13.47%
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 S&P Rating Moody’s Rating Fitch Rating
25 F.3.a
Packet Pg. 64
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
Orinda Reserve Portfolio 1.33% 5.95% 5.42% 3.94% 1.75% 1.98% Benchmark 1.18% 5.67% 5.10% 3.42% 1.37% 1.66%
*Periods over 1 year are annualized.

Benchmark: ICE BofA 1-3 Year US Treasury & Agency Index Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.

INVESTMENT PERFORMANCE
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Total Rate of Return : Inception | 03/01/2016
26 F.3.a
Packet Pg. 65
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

HISTORICAL AVERAGE PURCHASE YIELD
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Purchase Yield as of 06/30/25= 4.23%
27 F.3.a
Packet Pg. 66
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

PORTFOLIO HOLDINGS
28 F.3.a
Packet Pg. 67
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

HOLDINGS REPORT
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
05602RAD3 BMWOT 2022
-A A3 3.21
08/25/2026 3,490.80 05/10/20223.63%
3,490.62
3,490.77

99.82 4.56%
3,484.50

1.87 0.03%
(6.27)
Aaa/AAA
NA

1.15 0.14
47787JAC2 JDOT 2022 A3 2.32 09/15/2026 4,659.34 03/10/2022

2.34%
4,658.31
4,659.15

99.72 4.16%
4,646.09

4.80 0.04%
(13.06)
Aaa/NA
AAA

1.21 0.15
362554AC1 GMCAR 2021
-4 A3 0.68
09/16/2026 63.01 10/13/20210.68%

63.01 63.01

99.84 4.51%

62.91 0.02

0.00%
(0.10)
Aaa/AAA
NA

1.21 0.04
380146AC4 GMCAR 2022
-1 A3 1.26
11/16/2026 769.74 01/11/20221.24%
769.67
769.73

99.86 4.72%
768.65

0.40 0.01%
(1.08)
NA/AAA
AAA

1.38 0.04
379929AD4 GMALT 2023
-3 A3 5.38
11/20/2026 14,144.42 08/08/20235.38%
14,142.72
14,143.69
100.17

4.55%
14,168.97

23.25 0.12%

25.27 NA/AAA
AAA

1.39 0.19
05611UAD5 BMWLT 2024
-1 A3 4.98
03/25/2027 100,000.00 06/20/20245.40%
99,468.75
99,666.58
100.34

4.43%
100,341.35

83.00 0.85%
674.77
Aaa/AAA
NA

1.73 0.57
38012QAD0 GMALT 2024
-3 A3 4.21
10/20/2027 30,000.00 09/24/20244.61%
29,996.45
29,997.32

99.98 4.27%
29,992.92

38.59 0.25%
(4.40)
NA/AAA
AAA

2.31 1.01
05613MAD1 BMWLT 2024
-2 A3 4.18
10/25/2027 30,000.00 10/01/20244.49%
29,997.23
29,997.89

99.97 4.24%
29,990.73

20.90 0.25%
(7.16)
Aaa/NA
AAA

2.32 1.27
58770JAD6 MBALT 2024
-A A3 5.32
01/18/2028 30,000.00 05/17/20245.73%
29,996.49
29,997.55
101.22

4.38%
30,366.40

70.93 0.26%
368.84
Aaa/NA
AAA

2.55 1.22
58769GAD5 MBALT 2024
-B A3 4.23
02/15/2028 45,000.00 09/17/20244.24%
44,992.43
44,994.14

99.97 4.29%
44,987.27

84.60 0.38%
(6.87)
NA/AAA
AAA

2.63 1.29
362962AD4 GMALT 2025
-2 A3 4.58
05/22/2028 55,000.00 05/20/20254.84%
54,999.09
54,999.12
100.64

4.23%
55,351.25

76.97 0.47%
352.13
NA/AAA
AAA

2.90 1.62
438123AC5 HAROT 2023
-4 A3 5.67
06/21/2028 35,000.00 11/01/20235.74%
34,993.84
34,996.04
101.07

4.39%
35,373.28

55.13 0.30%
377.24
Aaa/NA
AAA

2.98 0.78
096912AD2 BMWLT 2025
-1 A3 4.43
06/26/2028 30,000.00 06/03/20254.82%
29,999.34
29,999.35
100.57

4.16%
30,171.68

77.53 0.26%
172.33
NA/AAA
AAA

2.99 1.80
89238DAD0 TAOT 2024-A A3 4.83 10/16/2028 60,000.00 01/23/2024

4.89%
59,987.99
59,991.60
100.60

4.25%
60,357.41
128.80

0.51%
365.81
Aaa/AAA
NA

3.30 0.94
36268GAD7 GMCAR 2024
-1 A3 4.85
12/18/2028 15,000.00 01/09/20244.91%
14,996.98
14,997.87
100.50

4.32%
15,074.96

30.31 0.13%

77.09 Aaa/NA
AAA

3.47 0.85
161571HV9 CHAIT 241 A 4.6 01/16/2029 120,000.00 01/24/2024

4.61%
119,981.72
119,986.93
100.73

4.14%
120,878.86
245.33

1.02%
891.92
NA/AAA
AAA

3.55 1.46
29 F.3.a
Packet Pg. 68
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 50,000.00 06/04/20245.18%
49,992.41
49,994.11
101.26

4.11%
50,630.40

43.17 0.43%
636.29
Aaa/AAA
NA

3.66 1.12
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029 70,000.00 08/09/20244.66%
69,989.00
69,991.06
100.54

4.21%
70,380.99

88.86 0.60%
389.93
Aaa/NA
AAA

3.72 1.35
02582JKH2 AMXCA 2024-1 A 5.23 04/16/2029 100,000.00 04/16/2024

5.30%
99,979.50
99,984.39
102.00

4.11%
101,996.75
232.44

0.86%
2,012.36
NA/AAA
AAA

3.79 1.67
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029 60,000.00 05/14/20254.66%
59,992.69
59,992.90
101.14

4.13%
60,681.37
122.93

0.51%
688.47
NA/AAA
AAA

3.79 2.15
05522RDJ4 BACCT 2024-1 A 4.93 05/15/2029 55,000.00 06/06/2024

4.93%
54,996.91
54,997.58
101.48

4.14%
55,814.72
120.51

0.47%
817.14
Aaa/AAA
NA

3.87 1.75
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 70,000.00 11/19/20244.66%
69,997.75
69,998.04
101.00

4.08%
70,700.52
143.42

0.60%
702.48
Aaa/NA
AAA

4.13 1.73
096924AD7 BMWOT 2025-A A3 4.56
09/25/2029 75,000.00 02/04/20254.56%
74,992.61
74,993.22
100.86

4.09%
75,642.20

57.00 0.64%
648.98
Aaa/AAA
NA

4.24 1.65
437921AD1 HAROT 252 A3 4.15 10/15/2029 35,000.00 04/29/2025

4.15%
34,996.09
34,996.22
100.20

4.09%
35,069.41

64.56 0.30%

73.19 Aaa/NA
AAA

4.29 2.14
44935CAD3 HART 2025-A A3 4.32 10/15/2029 70,000.00 03/04/2025

4.84%
69,989.68
69,990.36
100.39

4.16%
70,270.38
134.40

0.59%
280.02
NA/AAA
AAA

4.29 1.98
89231HAD8 TAOT 2025-B A3 4.34 11/15/2029 35,000.00 04/24/2025

4.82%
34,997.99
34,998.06
100.62

4.08%
35,215.35

67.51 0.30%
217.28
NA/AAA
AAA

4.38 2.02
44935XAD7 HART 2025-B A3 4.36 12/17/2029 45,000.00 06/03/2025

4.36%
44,995.94
44,995.99
100.64

4.09%
45,288.09
109.00

0.38%
292.10
NA/AAA
AAA

4.47 2.07
362549AD9 GMCAR 2025-2 A3 4.28
04/16/2030 30,000.00 05/06/20254.71%
29,995.58
29,995.70
100.54

4.07%
30,161.44

53.50 0.26%
165.74
Aaa/AAA
NA

4.79 2.14
92970QAJ4 WFCIT 2025-1 A 4.34 05/15/2030 95,000.00 06/03/2025

4.33%
94,998.42
94,998.44
100.78

4.09%
95,744.02
240.51

0.81%
745.58
NA/AAA
AAA

4.87 2.65
Total ABS 1,363,127.31 4.80%
1,362,449.21
1,362,676.82
100.77

4.18%
1,373,612.84
2,420.25

11.63%
10,936.01

3.56 1.56
AGENCY
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 125,000.00 03/07/20221.76% 119,140.00
124,745.42

99.39 4.48%
124,233.88
164.06

1.05%
(511.54)
Aa1/AA+
AA+

0.15 0.15
30 F.3.a
Packet Pg. 69
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3133EPZY4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 5.0 07/30/2026 250,000.00 11/09/20234.85%
250,935.00
250,370.99
100.85

4.18%
252,124.47
5,243.06

2.13%
1,753.48
Aa1/AA+
AA+

1.08 1.02
3133EPSW6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 08/14/2026 215,000.00 08/09/20234.58%
214,505.50
214,815.46
100.55

3.99%
216,184.45
3,681.88

1.83%
1,368.98
Aa1/AA+
AA+

1.12 1.07
3130AYPN0 FEDERAL HOME LOAN BANKS

4.125 01/15/2027 200,000.00 01/30/20244.21%
199,556.00
199,768.54
100.49

3.79%
200,987.02
3,804.17

1.70%
1,218.48
Aa1/AA+
AA+

1.54 1.45
3130B0TY5 FEDERAL HOME LOAN BANKS 4.75
04/09/2027 250,000.00 --4.84%
249,355.07
249,618.08
101.70

3.75%
254,244.44
2,704.86

2.15%
4,626.36
Aa1/AA+
AA+

1.77 1.67
3133ERDS7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 05/06/2027 168,000.00 05/22/20244.70% 168,221.26
168,138.34
101.70

3.79%
170,849.77
1,219.17

1.45%
2,711.43
Aa1/AA+
AA+

1.85 1.75
3133ERMB4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 07/23/2027 200,000.00 07/23/20244.32% 199,626.00
199,742.92
100.79

3.85%
201,570.20
3,730.56

1.71%
1,827.28
Aa1/AA+
AA+

2.06 1.92
3130ATUS4 FEDERAL HOME LOAN BANKS 4.25
12/10/2027 225,000.00 02/21/20234.26%
224,889.75
224,945.99
101.10

3.77%
227,482.33
557.81

1.93%
2,536.34
Aa1/AA+
AA+

2.45 2.30
3133EPGW9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 04/25/2028 100,000.00 04/27/20233.77% 100,473.00
100,266.40
100.16

3.81%
100,160.02
710.42

0.85%
(106.38)
Aa1/AA+
AA+

2.82 2.63
3130AWC24 FEDERAL HOME LOAN BANKS 4.0
06/09/2028 400,000.00 --4.27%
395,306.00
397,194.29
100.77

3.72%
403,069.09
977.78

3.41%
5,874.79
Aa1/AA+
AA+

2.94 2.75
3130AWTR1 FEDERAL HOME LOAN BANKS

4.375 09/08/2028 225,000.00 09/07/20234.49%
223,849.13
224,266.14
101.97

3.71%
229,423.38
3,089.84

1.94%
5,157.24
Aa1/AA+
AA+

3.19 2.92
3133EPWK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 09/22/2028 250,000.00 10/12/20234.71%
247,682.50
248,484.56
102.15

3.78%
255,384.39
3,093.75

2.16%
6,899.82
Aa1/AA+
AA+

3.23 2.95
Total Agency 2,608,000.00 4.36%
2,593,539.21
2,602,357.13
101.07

3.86%
2,635,713.41
28,977.34

22.31%
33,356.28

2.13 1.98

AGENCY CMBS
3137FBBX3 FHMS K-068 A2 3.244 08/25/2027 125,000.00 05/12/2023

3.98%
121,352.54
123,194.07

98.27 4.04%
122,843.00
337.92

1.04%
(351.07)
Aaa/AA+
AA+

2.15 1.98
3137FBU79 FHMS K-069 A2 3.187 09/25/2027 122,670.74 06/09/2023

4.41%
116,930.13
119,718.43

98.15 4.01%
120,400.24
325.79

1.02%
681.81
Aa1/AAA
AA+

2.24 2.06
3137F4D41 FHMS K-074 A2 3.6 01/25/2028 100,000.00 11/19/2024

4.50%
97,285.16
97,813.78

98.87 4.01%
98,866.16
300.00

0.84%
1,052.38
Aa1/AA+
AAA

2.57 2.34
31 F.3.a
Packet Pg. 70
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137FGR31 FHMS K-078 A2 3.854 06/25/2028 99,000.00 12/13/2023

4.73%
95,801.84
96,904.59

99.44 4.00%
98,448.94
317.96

0.83%
1,544.35
Aa1/AA+
AAA

2.99 2.65
3137FPJG1 FHMS K-099 A2 2.595 09/25/2029 109,000.00 01/07/2025

4.78%
99,232.58
100,223.73

94.30 4.09%
102,791.37
235.71

0.87%
2,567.64
Aa1/AA+
AAA

4.24 3.84
530,602.25 97.81 543,349.71 4.60% 2.79
Total Agency CMBS 555,670.74 4.46% 537,854.59 4.03% 1,517.38 5,495.12 2.54 CASH
CCYUSD Receivable 286.14 -- 286.14
286.14

1.00 0.00%
286.14

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
286.14 1.00 286.14 0.00% 0.00
Total Cash 286.14 286.14 0.00% 0.00 0.00 0.00

CORPORATE
00440EAV9 CHUBB INA HOLDINGS LLC 3.35
05/03/2026 125,000.00 08/24/20235.18%
119,327.50
123,226.98

99.23 4.29%
124,038.70
674.65

1.05%
811.72
A2/A
A

0.84 0.81
89236TJK2 TOYOTA MOTOR CREDIT CORP

1.125 06/18/2026 125,000.00 01/11/20234.53%
111,556.25
121,220.29

97.05 4.28%
121,316.96

50.78 1.03%

96.68 A1/A+
A+

0.97 0.94
857477CD3 STATE STREET CORP 5.272
08/03/2026 75,000.00 07/31/20235.27%
75,000.00
75,000.00
101.00

4.31%
75,753.12
1,625.53

0.64%
753.12
Aa3/A
AA1.090.95
69371RS56 PACCAR FINANCIAL CORP 5.05
08/10/2026 100,000.00 08/03/20235.07%
99,950.00
99,981.52
101.04

4.07%
101,043.87
1,977.92

0.86%
1,062.35
A1/A+
NA

1.11 1.05
437076CV2 HOME DEPOT INC 4.95
09/30/2026 40,000.00 11/27/20235.04%
39,912.40
39,961.26
100.99

4.12%
40,395.12
500.50

0.34%
433.87
A2/A
A

1.25 1.11
713448FW3 PEPSICO INC 5.125 11/10/2026 45,000.00 11/08/2023

5.13%
44,987.85
44,994.49
101.26

4.16%
45,566.97
326.72

0.39%
572.48
A1/A+
NA

1.36 1.22
89115A2V3 TORONTO-DOMINION BANK 5.264
12/11/2026 55,000.00 12/04/20235.26%
55,000.00
55,000.00
101.35

4.29%
55,744.16
160.84

0.47%
744.16
A2/AAA1.45

1.38 24422EXF1 JOHN DEERE CAPITAL CORP 4.5
01/08/2027 125,000.00 01/10/20244.53%
124,902.50
124,950.36
100.63

4.07%
125,785.62
2,703.13

1.06%
835.26
A1/A
A+

1.53 1.43
78016HZT0 ROYAL BANK OF CANADA 4.875
01/19/2027 145,000.00 02/27/20254.45%
146,110.70
145,912.71
100.97

4.22%
146,407.85
3,180.94

1.24%
495.15
A1/A
AA1.561.45
32 F.3.a
Packet Pg. 71
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027 125,000.00 03/20/20244.73%
125,233.75
125,129.01
101.21

4.03%
126,515.82
2,083.33

1.07%
1,386.81
A1/AANA1.66

1.48 665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 125,000.00 11/02/20225.01%
119,893.75
122,899.25

99.88 4.07%
124,847.13
708.33

1.06%
1,947.88
A2/A+
A+

1.86 1.76
14913UAL4 CATERPILLAR FINANCIAL SERVICES
CORP 5.0 05/14/2027 100,000.00 05/15/20244.89%
100,293.00
100,182.99
101.70

4.04%
101,702.42
652.78

0.86%
1,519.43
A2/A
A+

1.87 1.76
437076DB5 HOME DEPOT INC 4.875
06/25/2027 100,000.00 --4.94%
99,818.25
99,879.83
101.58

4.04%
101,575.63

81.25 0.86%
1,695.80
A2/A
A

1.99 1.80
09290DAH4 BLACKROCK INC 4.6 07/26/2027 150,000.00 --

4.59%
150,053.60
150,036.47
101.22

3.98%
151,831.55
2,970.83

1.29%
1,795.09
Aa3/AANA2.07

1.85 532457CP1 ELI LILLY AND CO 4.15 08/14/2027 75,000.00 08/12/2024

4.18%
74,939.25
74,957.06
100.49

3.90%
75,367.85
1,184.48

0.64%
410.79
Aa3/A+
NA

2.12 1.91
023135BC9 AMAZON.COM INC 3.15
08/22/2027 120,000.00 06/26/20244.90%
113,935.20
115,879.52

98.37 3.95%
118,045.26
1,354.50

1.00%
2,165.74
A1/AA
AA2.152.02
63743HFT4

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.12
09/16/2027
145,000.00
11/18/2024

4.61%
143,119.35
143,527.95

99.91 4.16%
144,876.27
1,742.42

1.23%
1,348.32
A2/AA2.21

2.07 91324PDE9 UNITEDHEALTH GROUP INC 2.95
10/15/2027 125,000.00 09/05/20243.98%
121,250.00
122,235.45

97.29 4.20%
121,606.73
778.47

1.03%
(628.72)
A2/A+
A

2.29 2.17
57636QBA1 MASTERCARD INC 4.1 01/15/2028 125,000.00 09/17/2024

3.77%
126,272.50
125,964.86
100.44

3.92%
125,549.31
2,363.19

1.06%
(415.55)
Aa3/A+
NA

2.54 2.27
02665WFX4 AMERICAN HONDA FINANCE
CORP 4.55 03/03/2028 150,000.00 03/28/20254.57%
149,898.00
149,906.79
100.52

4.34%
150,778.24
2,199.17

1.28%
871.45
A3/ANA2.68

2.46 87612EBU9 TARGET CORP 4.35 06/15/2028 45,000.00 06/05/2025

4.35%
44,999.55
44,999.56
100.60

4.13%
45,270.47
114.19

0.38%
270.92
A2/A
A

2.96 2.67
46647PAR7 JPMORGAN CHASE & CO 4.005
04/23/2029 150,000.00 05/09/20254.59%
147,586.50
147,698.55

99.12 4.68%
148,680.39
1,134.75

1.26%
981.85
A1/A
AA3.812.61
025816ED7 AMERICAN EXPRESS CO 4.731
04/25/2029 130,000.00 05/13/20254.62%
130,386.10
130,368.89
101.14

4.63%
131,478.32
1,127.56

1.11%
1,109.42
A2/AA3.82

2.59 06051GMT3 BANK OF AMERICA CORP 4.623
05/09/2029 120,000.00 05/08/20254.86%
119,744.40
119,753.87
100.63

4.66%
120,761.54
801.32

1.02%
1,007.67
A1/AAA3.86

2.63 69371RT48 PACCAR FINANCIAL CORP 4.0
09/26/2029 70,000.00 09/23/20244.05%
69,855.80
69,877.75

99.47 4.14%
69,626.81
738.89

0.59%
(250.94)
A1/A+
NA

4.24 3.82
33 F.3.a
Packet Pg. 72
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Corporate 2,690,000.00 4.65%
2,654,026.20
2,673,545.39
100.19

4.20%
2,694,566.13
31,236.47

22.81%
21,020.74

2.18 1.87

MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 76,214.56 --

3.96%
76,214.56
76,214.56

1.00 3.96%
76,214.56

0.00 0.65%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 76,214.56 3.96%
76,214.56
76,214.56

1.00 3.96%
76,214.56

0.00 0.65%

0.00 0.00

0.00 SUPRANATIONAL
45950KDF4 INTERNATIONAL FINANCE CORP

4.375 01/15/2027 110,000.00 11/29/20234.49%
109,641.40
109,822.28
100.74

3.87%
110,818.01
2,219.60

0.94%
995.73
Aaa/AAA
NA

1.54 1.45
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
200,000.00
03/11/2024

4.23%
194,262.00
195,984.85

99.26 3.76%
198,511.05
3,286.11

1.68%
2,526.20
Aaa/AAA
NA

3.03 2.80
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
70,000.00
03/14/2025

4.20%
69,750.10
69,764.20
101.23

3.84%
70,857.57
810.10

0.60%
1,093.37
Aaa/AAA
NA

4.72 4.21
Total Supranational 380,000.00 4.30%
373,653.50
375,571.33
100.06

3.81%
380,186.62
6,315.82

3.22%
4,615.30

2.91 2.67

US TREASURY
91282CAB7 UNITED STATES TREASURY 0.25
07/31/2025 175,000.00 12/02/20211.05%
169,927.73
174,886.10

99.66 4.34%
174,408.37
182.49

1.48%
(477.73)
Aa1/AA+
AA+

0.08 0.08
91282CAJ0 UNITED STATES TREASURY 0.25
08/31/2025 200,000.00 03/22/20222.39%
185,765.63
199,309.23

99.30 4.51%
198,597.66
167.12

1.68%
(711.58)
Aa1/AA+
AA+

0.17 0.16
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025 200,000.00 04/21/20222.96%
200,281.25
200,020.36

99.67 4.29%
199,348.96
1,508.20

1.69%
(671.40)
Aa1/AA+
AA+

0.25 0.25
9128285J5 UNITED STATES TREASURY 3.0
10/31/2025 200,000.00 06/02/20222.87%
200,820.31
200,080.32

99.57 4.28%
199,148.44
1,010.87

1.69%
(931.88)
Aa1/AA+
AA+

0.34 0.33
912828M56 UNITED STATES TREASURY 2.25
11/15/2025 250,000.00 06/09/20223.04%
243,505.86
249,290.51

99.24 4.32%
248,092.45
718.41

2.10%
(1,198.07)
Aa1/AA+
AA+

0.38 0.37
34 F.3.a
Packet Pg. 73
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
9128285T3 UNITED STATES TREASURY 2.625
12/31/2025 250,000.00 08/10/20223.01%
246,855.47
249,535.18

99.22 4.23%
248,050.13

17.83 2.10%
(1,485.05)
Aa1/AA+
AA+

0.50 0.49
9128286L9 UNITED STATES TREASURY 2.25
03/31/2026 150,000.00 08/17/20223.20%
145,113.28
148,989.34

98.65 4.10%
147,975.59
848.36

1.25%
(1,013.75)
Aa1/AA+
AA+

0.75 0.73
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 250,000.00 02/26/20244.54%
250,507.81
250,248.89
100.89

3.91%
252,226.56
2,432.55

2.13%
1,977.68
Aa1/AA+
AA+

1.29 1.23
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 170,000.00 10/30/20244.11%
163,047.27
165,315.07

97.50 3.88%
165,756.64
434.24

1.40%
441.57
Aa1/AA+
AA+

1.38 1.33
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 100,000.00 12/30/20244.25%
100,222.66
100,165.90
100.75

3.84%
100,746.09
191.26

0.85%
580.19
Aa1/AA+
AA+

1.46 1.40
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 395,000.00 --4.04%
375,451.95
385,147.56

97.86 3.77%
386,559.96
2,482.24

3.27%
1,412.40
Aa1/AA+
AA+

1.75 1.68
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 250,000.00 10/13/20224.25%
239,277.34
245,444.74

99.11 3.72%
247,763.67

22.08 2.10%
2,318.93
Aa1/AA+
AA+

2.00 1.91
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 250,000.00 01/30/20233.72%
243,740.23
247,038.59

98.77 3.72%
246,923.83
2,611.24

2.09%
(114.76)
Aa1/AA+
AA+

2.17 2.05
9128283F5 UNITED STATES TREASURY 2.25
11/15/2027 250,000.00 06/07/20234.05%
231,953.13
240,341.58

96.70 3.72%
241,748.05
718.41

2.05%
1,406.47
Aa1/AA+
AA+

2.38 2.27
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 180,000.00 04/04/20253.66%
181,652.34
181,519.59
100.76

3.70%
181,364.06
2,406.52

1.54%
(155.53)
Aa1/AA+
AA+

2.67 2.48
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 100,000.00 01/30/20254.25%
98,160.16
98,400.69

99.83 3.69%
99,828.13
911.20

0.84%
1,427.43
Aa1/AA+
AA+

2.75 2.57
91282CMW8 UNITED STATES TREASURY 3.75
04/15/2028 120,000.00 04/14/20253.91%
119,475.00
119,510.99
100.13

3.70%
120,150.00
946.72

1.02%
639.01
Aa1/AA+
AA+

2.79 2.61
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 100,000.00 02/27/20254.09%
98,250.00
98,436.04

99.46 3.70%
99,457.03
589.67

0.84%
1,020.99
Aa1/AA+
AA+

2.84 2.66
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 250,000.00 04/18/20244.72%
233,798.83
238,045.46

98.13 3.72%
245,332.03
997.79

2.08%
7,286.57
Aa1/AA+
AA+

3.38 3.15
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 50,000.00 11/20/20244.26%
49,701.17
49,737.92
101.43

3.76%
50,714.84
347.49

0.43%
976.92
Aa1/AA+
AA+

4.34 3.91
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 250,000.00 12/30/20244.37%
250,009.77
250,008.80
102.48

3.77%
256,201.17

29.72 2.17%
6,192.38
Aa1/AA+
AA+

4.50 4.06
Total US Treasury 4,140,000.00 3.65%
4,027,517.19
4,091,472.88

99.30 3.95%
4,110,393.65
19,574.42

34.79%
18,920.77

1.72 1.61
35 F.3.a
Packet Pg. 74
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Portfolio 11,813,298.75 4.23%
11,618,288.27
11,719,978.84

99.39 4.01%
11,814,323.06
90,041.68
100.00%
94,344.22

2.21 1.81
Total Market Value +
Accrued 11,904,364.74
36 F.3.a
Packet Pg. 75
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

TRANSACTIONS
37 F.3.a
Packet Pg. 76
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

TRANSACTION LEDGER
City of Orinda Reserve Portfolio | Account #10296|04/01/2025 Through 06/30/2025| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 04/07/2025 91282CGP0 180,000.00 UNITED STATES TREASURY

4.0 02/29/2028 100.918 3.66% (181,652.34) (743.48) (182,395.82) 0.00 Purchase 04/17/2025 91282CMW8 120,000.00 UNITED STATES TREASURY

3.75 04/15/2028 99.562 3.91% (119,475.00) (24.59) (119,499.59) 0.00 Purchase 04/30/2025 89231HAD8 35,000.00 TAOT 2025-B A3 4.34 11/15/2029 99.994 4.82% (34,997.99) 0.00 (34,997.99) 0.00 Purchase 05/08/2025 437921AD1 35,000.00 4.65 10/15/2029 99.989 4.65% (34,996.09) 0.00 (34,996.09) 0.00 Purchase 05/08/2025 437921AD1 (35,000.00) HAROT 252 A3 4.15 10/15/2029 99.989 4.15% 34,996.09 0.00 0.00 0.00
Purchase 05/08/2025 437921AD1 35,000.00 HAROT 252 A3 4.15 10/15/2029 99.989 4.15% (34,996.09) 0.00 0.00 0.00
Purchase 05/09/2025 06051GMT3 120,000.00 BANK OF AMERICA CORP

4.623 05/09/2029 99.787 4.86% (119,744.40) 0.00 (119,744.40) 0.00 Purchase 05/12/2025 46647PAR7 150,000.00 JPMORGAN CHASE & CO

4.005 04/23/2029 98.391 4.59% (147,586.50) (317.06) (147,903.56) 0.00 Purchase 05/14/2025 362549AD9 30,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 99.985 4.71% (29,995.58) 0.00 (29,995.58) 0.00 Purchase 05/14/2025 025816ED7 130,000.00 AMERICAN EXPRESS CO

4.731 04/25/2029 100.297 4.62% (130,386.10) (324.60) (130,710.70) 0.00 Purchase 05/21/2025 58768YAD7 60,000.00 MBALT 2025-A A3 4.61 04/16/2029 99.988 4.66% (59,992.69) 0.00 (59,992.69) 0.00 Purchase 05/29/2025 362962AD4 55,000.00 GMALT 2025-2 A3 4.58 05/20/2028 99.998 4.84% (54,999.09) 0.00 (54,999.09) 0.00 Purchase 06/10/2025 92970QAJ4 95,000.00 WFCIT 2025-1 A 4.34 05/15/2030 99.998 4.33% (94,998.42) 0.00 (94,998.42) 0.00 Purchase 06/10/2025 096912AD2 30,000.00 BMWLT 2025-1 A3 4.43 06/26/2028 99.998 4.82% (29,999.34) 0.00 (29,999.34) 0.00 Purchase 06/10/2025 87612EBU9 45,000.00 TARGET CORP 4.35 06/15/2028 99.999 4.35% (44,999.55) 0.00 (44,999.55) 0.00 Purchase 06/11/2025 44935XAD7 45,000.00 HART 2025-B A3 4.36 12/17/2029 99.991 4.36% (44,995.94) 0.00 (44,995.94) 0.00 Total Purchase 1,130,000.00 (1,128,819.03) (1,409.73) (1,130,228.76) 0.00 38 F.3.a
Packet Pg. 77
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

DISPOSITIONS
Call Redemption 04/02/2025 06051GKM0 (125,000.00) BANK OF AMERICA CORP

3.384 04/02/2026 100.000 5.78% 125,000.00 0.00 125,000.00 0.00 Total Call
Redemption (125,000.00) 125,000.00 0.00 125,000.00 0.00 Maturity 04/15/2025 87612EBL9 (125,000.00) TARGET CORP 2.25 04/15/2025 100.000 3.30% 125,000.00 0.00 125,000.00 0.00 Maturity 04/30/2025 912828ZL7 (175,000.00) UNITED STATES TREASURY

0.375 04/30/2025 100.000 0.33% 175,000.00 0.00 175,000.00 0.00 Maturity 05/31/2025 912828ZT0 (200,000.00) UNITED STATES TREASURY

0.25 05/31/2025 100.000 0.78% 200,000.00 0.00 200,000.00 0.00 Maturity 06/15/2025 63743HFE7 (35,000.00)

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE
CORP 3.45 06/15/2025
100.000 3.45% 35,000.00 0.00 35,000.00 0.00
Total Maturity (535,000.00) 535,000.00 0.00 535,000.00 0.00 Sale 05/12/2025 3130ATUC9 (150,000.00) FEDERAL HOME LOAN BANKS 4.5 12/12/2025 100.135 4.25% 150,202.50 2,812.50 153,015.00 2.34 Sale 05/14/2025 438516CB0 (125,000.00)

HONEYWELL
INTERNATIONAL INC 1.35
06/01/2025

99.806 2.30% 124,757.50 764.06 125,521.56 (185.73)
Sale 05/19/2025 3135G05X7 (25,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025

98.886 1.76% 24,721.50 21.88 24,743.38 (187.78)
Sale 05/22/2025 3135G05X7 (50,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025

98.933 1.76% 49,466.50 45.31 49,511.81 (357.61)
Total Sale (350,000.00) 349,148.00 3,643.75 352,791.75 (728.78) TOTAL
DISPOSITIONS (1,010,000.00) 1,009,148.00 3,643.75 1,012,791.75 (728.78) 39 F.3.a
Packet Pg. 78
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

IMPORTANT DISCLOSURES
2025 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

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

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

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

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

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

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

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

Security level ratings for U.S. Agency issued mortgage-backed securities “MBS” reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest. 40 F.3.a
Packet Pg. 79
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly

BENCHMARK DISCLOSURES
City of Orinda Reserve Portfolio | Account #10296 | As of June 30, 2025 Benchmark Disclosure
ICE BofA 1-3 Yr US Treasury & Agency Index
The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 41 F.3.a
Packet Pg. 80
Attachment: Reserve Portfolio FY 2024-25 Quarter 4 Report (Apr 2025- Jun 2025) (3693 : Quarterly Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
July 15, 2025
LAIF Home
PMIAAverage Monthly
Yields

CITY OF ORINDA

CITY MANAGER
22 ORINDA WAY
ORINDA, CA 94563
Account Number: 98-07-607
April 2025 Statement
Tran Type Definitions
Effective
Date
Transaction
Date
Tran
Type
Confirm
Number
Web
Confirm
Number Authorized Caller Amount
4/15/2025 4/14/2025 QRD 1772184 N/A SYSTEM 198,432.96
Account Summary
Total Deposit: 198,432.96 Beginning Balance: 18,837,138.33 Total Withdrawal: 0.00 Ending Balance: 19,035,571.29
7/15/25, 11:55 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 F.3.b
Packet Pg. 81
Attachment: LAIF Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
July 15, 2025
LAIF Home
PMIAAverage Monthly
Yields

CITY OF ORINDA

CITY MANAGER
22 ORINDA WAY
ORINDA, CA 94563
Account Number: 98-07-607
May 2025 Statement
Tran Type Definitions
Account Summary
Total Deposit: 0.00 Beginning Balance: 19,035,571.29
Total Withdrawal: 0.00 Ending Balance: 19,035,571.29
7/15/25, 11:55 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 F.3.b
Packet Pg. 82
Attachment: LAIF Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
July 15, 2025
LAIF Home
PMIAAverage Monthly
Yields

CITY OF ORINDA

CITY MANAGER
22 ORINDA WAY
ORINDA, CA 94563
Account Number: 98-07-607
June 2025 Statement
Tran Type Definitions
Account Summary
Total Deposit: 0.00 Beginning Balance: 19,035,571.29
Total Withdrawal: 0.00 Ending Balance: 19,035,571.29
7/15/25, 11:54 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 F.3.b
Packet Pg. 83
Attachment: LAIF Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

CITY OF ORINDA
22 ORINDA WAY
ORINDA CA 94563-2519
Managing Your Accounts
Client Services 800.797.6324
Online www.mechanicsbank.com
Mobile Download Our Mobile Apps
• Buy extra material or inventory for your busy season
• Hire new employees or promote your business
• Renovate/refresh your location
• Be prepared for unexpected expenses
• Improve cash flow management
All loans and credit products subject to program eligibility, collateral, underwriting approval and credit approval. Offer is for new lines of credit and does not apply to renewing lines of credit. Must have automatic payments from a Mechanics Bank non-interest bearing business checking account. 1) Offer is effective as of 3/1/2025 and is subject to change or cancellation without notice. Prime Rate is defined as “the Prime Rate as published daily in the Money Rates section of the Wall Street Journal.” For the current Prime Rate, talk to a banker or visit https://www.wsj.com/market-data/bonds. 2) Represents borrower’s new aggregated business credit exposure limits to qualify for advertised pricing.

Apply today!
MechanicsBank.com/BizBoost
A great rate to grow on!

BUSINESS

LINE OF
CREDIT
Up to
$250,000
2 LIMITED TIME OFFER
1 Prime-1%
APR
1 The "Per Check Charge" defined on your statement represents a $15 charge for each check that exceeds the six check limitation on your account. Refer to Mechanics Bank's Account Agreement for additional information.

Summary of Accounts
Account Type Account Number Ending Balance
PUBLIC MONEY MARKET XXXXXXXX8700 $11,213,098.97
PUBLIC MONEY MARKET - XXXXXXXX8700
Account Summary
Date Description Amount
04/01/2025 Beginning Balance $11,172,419.12
1 Credit(s) This Period $40,679.85
0 Debit(s) This Period $0.00
04/30/2025 Ending Balance $11,213,098.97
Interest Summary
Description Amount
Interest Earned From 04/01/2025 Through 04/30/2025
Annual Percentage Yield Earned 4.52%
Interest Days 30
Interest Earned $40,679.85
Interest Paid This Period $40,679.85
Interest Paid Year-to-Date $154,886.19
P.O. Box 2200
Corona, CA 92878
800.797.6324
www.mechanicsbank.com
Statement Ending 04/30/2025

Page 1 of 4 ends

AF17315FB597F04DB9066CBC96449598 20250430 Checking Account Statements F.3.c
Packet Pg. 84
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) How to balance your account

1. Subtract from your check register any service,
miscellaneous, or automatic charge(s) posted on
this statement.

2. Mark ✓ your register after each check listed on the
front of this statement.

3. Check off deposits shown on the statement against
those shown in your check register.

4. Complete the form below.

5. The final "balance" in the form below should agree with your check register balance. If it does not, read
"HINTS FOR FINDING DIFFERENCES".

HINTS FOR FINDING DIFFERENCES
Recheck all additions and subtractions or corrections.

Verify the carryover balance from page to page in your
check register.

Make sure you have subtracted the service or miscellaneous charge(s) from your check register balance.

Descriptions of ACH items are printed as supplied by originating company.

MKT5584/0623 FM-Reference #3955.Version 1-eCH

HOW TO BALANCE YOUR ACCOUNTS

THIS SHOULD AGREE WITH YOUR CHECK REGISTER BALANCE
TRANSFER AMOUNT FROM PAGE ONE $

ADD DEPOSITS MADE SINCE ENDING

DATE ON STATEMENT
SUBTOTAL $

LIST CHECKS NOT CLEARED ON THIS

STATEMENT OR PRIOR STATEMENTS

TOTAL CHECKS

NOT LISTED

SUBTRACT TOTAL
CHECKS

NOT LISTED FROM

SUBTOTAL ABOVE BALANCE
$
This information applies only to consumer accounts
as defined by the Electronic Fund Transfer Act and
Regulation E.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR

ELECTRONIC TRANSFERS
Call us at 800.797.6324, during regular business hours, or write us at: Mechanics Bank, P.O. Box 8070,
Walnut Creek, CA 94596 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.

1. Tell us your name and account number.

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

HOW TO CONTACT US 800.797.6324
P.O. Box 8070
Walnut Creek, CA 94596
www.mechanicsbank.com
NOTICE TO BUSINESS AND COMMERCIAL CUSTOMERS:

Accounts owned by business and commercial customers are not subject to consumer regulations, such as the Truth in Savings Act and the Electronic Fund Transfer Act. The information regarding Electronic Transfers does not apply to business or commercial accounts. You acknowledge the risk of loss from unauthorized items.

You further acknowledge that the Bank offers various services that allow business and commercial customers to closely monitor their account activity, such as Business Online Banking, Positive Pay, and other services ("Fraud Prevention Services"), which can reduce potential fraud. If you fail to use one or more of the available Fraud Prevention Services, you agree that you will be deemed to have assumed the risk of any losses that could have been prevented if you had used the Fraud Prevention Services.

Statement Ending 04/30/2025 Page 2 of 4
AF17315FB597F04DB9066CBC96449598 20250430 Checking Account Statements F.3.c
Packet Pg. 85
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) PUBLIC MONEY MARKET - XXXXXXXX8700 (continued)
Other Credits
Date Description Amount
04/30/2025 INTEREST $40,679.85
Daily Balances
Date Amount
04/30/2025 $11,213,098.97
Overdraft and Returned Item Fees
Total for this period Total year-to-date
Total Overdraft Fees $0.00 $0.00
Total Returned Item Fees $0.00 $0.00
Statement Ending 04/30/2025

Page 3 of 4 ends

AF17315FB597F04DB9066CBC96449598 20250430 Checking Account Statements F.3.c
Packet Pg. 86
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

THIS PAGE LEFT INTENTIONALLY BLANK
Statement Ending 04/30/2025

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Packet Pg. 87
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

CITY OF ORINDA
22 ORINDA WAY
ORINDA CA 94563-2519
Managing Your Accounts
Client Services 800.797.6324
Online www.mechanicsbank.com
Mobile Download Our Mobile Apps
Small Business

CELEBRATING

AT MECHANICS BANK
Small Businesses
• Business Line of Credit: Prime -1%1
• Small Business Solutions
• Business Credit & Debit Cards
• Business Checking & Savings
• Online Business Banking & Bill Pay
Ask us about these great ways
we can help your small business!
1) All loans and credit products subject to program eligibility, collateral, underwriting approval and credit approval. Offer is for new lines of credit and does not apply to renewing lines of credit. Must have automatic payments from a Mechanics Bank non-interest bearing business checking account. Offer is effective as of 3/1/2025 and is subject to change or cancellation without notice. Prime Rate is defined as “the Prime Rate as published daily in the Money Rates section of the Wall Street Journal.” For the current Prime Rate, talk to a banker or visit https://www.wsj.com/market-data/bonds.

The "Per Check Charge" defined on your statement represents a $15 charge for each check that exceeds the six check limitation on your account. Refer to Mechanics Bank's Account Agreement for additional information.

Summary of Accounts
Account Type Account Number Ending Balance
PUBLIC MONEY MARKET XXXXXXXX8700 $11,253,926.94
PUBLIC MONEY MARKET - XXXXXXXX8700
Account Summary
Date Description Amount
05/01/2025 Beginning Balance $11,213,098.97
1 Credit(s) This Period $40,827.97
0 Debit(s) This Period $0.00
05/30/2025 Ending Balance $11,253,926.94
Interest Summary
Description Amount
Interest Earned From 05/01/2025 Through 05/30/2025
Annual Percentage Yield Earned 4.52%
Interest Days 30
Interest Earned $40,827.97
Interest Paid This Period $40,827.97
Interest Paid Year-to-Date $195,714.16
P.O. Box 2200
Corona, CA 92878
800.797.6324
www.mechanicsbank.com
Statement Ending 05/30/2025

Page 1 of 4 ends

FD087A081512FC479591E9DB3B188D6E 20250530 Checking Account Statements F.3.c
Packet Pg. 88
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) How to balance your account

1. Subtract from your check register any service,
miscellaneous, or automatic charge(s) posted on
this statement.

2. Mark ✓ your register after each check listed on the
front of this statement.

3. Check off deposits shown on the statement against
those shown in your check register.

4. Complete the form below.

5. The final "balance" in the form below should agree with your check register balance. If it does not, read
"HINTS FOR FINDING DIFFERENCES".

HINTS FOR FINDING DIFFERENCES
Recheck all additions and subtractions or corrections.

Verify the carryover balance from page to page in your
check register.

Make sure you have subtracted the service or miscellaneous charge(s) from your check register balance.

Descriptions of ACH items are printed as supplied by originating company.

MKT5584/0623 FM-Reference #3955.Version 1-eCH

HOW TO BALANCE YOUR ACCOUNTS

THIS SHOULD AGREE WITH YOUR CHECK REGISTER BALANCE
TRANSFER AMOUNT FROM PAGE ONE $

ADD DEPOSITS MADE SINCE ENDING

DATE ON STATEMENT
SUBTOTAL $

LIST CHECKS NOT CLEARED ON THIS

STATEMENT OR PRIOR STATEMENTS

TOTAL CHECKS

NOT LISTED

SUBTRACT TOTAL
CHECKS

NOT LISTED FROM

SUBTOTAL ABOVE BALANCE
$
This information applies only to consumer accounts
as defined by the Electronic Fund Transfer Act and
Regulation E.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR

1. Tell us your name and account number.

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

HOW TO CONTACT US 800.797.6324
P.O. Box 8070
Walnut Creek, CA 94596
www.mechanicsbank.com
NOTICE TO BUSINESS AND COMMERCIAL CUSTOMERS:

Statement Ending 05/30/2025 Page 2 of 4
FD087A081512FC479591E9DB3B188D6E 20250530 Checking Account Statements F.3.c
Packet Pg. 89
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) PUBLIC MONEY MARKET - XXXXXXXX8700 (continued)
Other Credits
Date Description Amount
05/30/2025 INTEREST $40,827.97
Daily Balances
Date Amount
05/30/2025 $11,253,926.94
Overdraft and Returned Item Fees
Total for this period Total year-to-date
Total Overdraft Fees $0.00 $0.00
Total Returned Item Fees $0.00 $0.00
Statement Ending 05/30/2025

Page 3 of 4 ends

FD087A081512FC479591E9DB3B188D6E 20250530 Checking Account Statements F.3.c
Packet Pg. 90
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

THIS PAGE LEFT INTENTIONALLY BLANK
Statement Ending 05/30/2025

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Packet Pg. 91
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

Apply today!
MechanicsBank.com/BizBoost
A great rate to grow on!

BUSINESS

Summary of Accounts
Account Type Account Number Ending Balance
PUBLIC MONEY MARKET XXXXXXXX8700 $11,296,269.45
PUBLIC MONEY MARKET - XXXXXXXX8700
Account Summary
Date Description Amount
05/31/2025 Beginning Balance $11,253,926.94
1 Credit(s) This Period $42,342.51
0 Debit(s) This Period $0.00
06/30/2025 Ending Balance $11,296,269.45
Interest Summary
Description Amount
Interest Earned From 05/31/2025 Through 06/30/2025
Annual Percentage Yield Earned 4.52%
Interest Days 31
Interest Earned $42,342.51
Interest Paid This Period $42,342.51
Interest Paid Year-to-Date $238,056.67
P.O. Box 2200
Corona, CA 92878
800.797.6324
www.mechanicsbank.com
Statement Ending 06/30/2025

Page 1 of 4 ends

43DAD8631C004A47BC5F6B42CC2F2CB4 20250630 Checking Account Statements F.3.c
Packet Pg. 92
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) How to balance your account

1. Subtract from your check register any service,
miscellaneous, or automatic charge(s) posted on
this statement.

2. Mark ✓ your register after each check listed on the
front of this statement.

3. Check off deposits shown on the statement against
those shown in your check register.

4. Complete the form below.

5. The final "balance" in the form below should agree with your check register balance. If it does not, read
"HINTS FOR FINDING DIFFERENCES".

HINTS FOR FINDING DIFFERENCES
Recheck all additions and subtractions or corrections.

Verify the carryover balance from page to page in your
check register.

Make sure you have subtracted the service or miscellaneous charge(s) from your check register balance.

Descriptions of ACH items are printed as supplied by originating company.

MKT5584/0623 FM-Reference #3955.Version 1-eCH

HOW TO BALANCE YOUR ACCOUNTS

THIS SHOULD AGREE WITH YOUR CHECK REGISTER BALANCE
TRANSFER AMOUNT FROM PAGE ONE $

ADD DEPOSITS MADE SINCE ENDING

DATE ON STATEMENT
SUBTOTAL $

LIST CHECKS NOT CLEARED ON THIS

STATEMENT OR PRIOR STATEMENTS

TOTAL CHECKS

NOT LISTED

SUBTRACT TOTAL
CHECKS

NOT LISTED FROM

SUBTOTAL ABOVE BALANCE
$
This information applies only to consumer accounts
as defined by the Electronic Fund Transfer Act and
Regulation E.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR

1. Tell us your name and account number.

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

HOW TO CONTACT US 800.797.6324
P.O. Box 8070
Walnut Creek, CA 94596
www.mechanicsbank.com
NOTICE TO BUSINESS AND COMMERCIAL CUSTOMERS:

Statement Ending 06/30/2025 Page 2 of 4
43DAD8631C004A47BC5F6B42CC2F2CB4 20250630 Checking Account Statements F.3.c
Packet Pg. 93
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) PUBLIC MONEY MARKET - XXXXXXXX8700 (continued)
Other Credits
Date Description Amount
06/30/2025 INTEREST $42,342.51
Daily Balances
Date Amount
06/30/2025 $11,296,269.45
Overdraft and Returned Item Fees
Total for this period Total year-to-date
Total Overdraft Fees $0.00 $0.00
Total Returned Item Fees $0.00 $0.00
Statement Ending 06/30/2025

Page 3 of 4 ends

43DAD8631C004A47BC5F6B42CC2F2CB4 20250630 Checking Account Statements F.3.c
Packet Pg. 94
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.)

THIS PAGE LEFT INTENTIONALLY BLANK
Statement Ending 06/30/2025

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Packet Pg. 95
Attachment: Money Market Account Statements Apr 2025 - Jun 2025 (3693 : Quarterly Investment Report for Quarter Ending June 30, 2025.) City Council
Staff Report
Agenda Item: F.4
Date: August 19, 2025
Department:

Public Works and
Engineering Services
AGENDA TITLE: Road Closure to Vehicular Traffic for the Orinda Annual Classic Car Show
RECOMMENDATION:

Adopt Resolution 47-25 Approving the Closure of a Portion of Orinda Way and All of Avenida de Orinda for the Orinda Annual Classic Car Show (Traffic Order No. 239).

BACKGROUND:

The 21
st Orinda Annual Classic Car Show in the Orinda Downtown area of the Village District will be held between 10:00 a.m. and 2:00 p.m. on Saturday September 6, 2025.

DISCUSSION:

The City supports the Car Show as it brings in visitors to the City and promotes Downtown Orinda. The event is arranged by the Orinda Association, who has signed the City’s Co-Sponsorship application, which specifies insurance and other requirements. Safety of all concerned, including participants and spectators, requires street closures as noted below between the hours of 6:00 a.m. and 5:00 p.m. These are the same closures utilized in past Car Shows:
1) Full Closure of Orinda Way between Camino Pablo and Camino Sobrante 2) Full Closure of Avenida De Orinda
FISCAL IMPACT:

Minimal overtime costs are associated with logistical support provided by City employees and contract services, primarily Orinda Police.

ATTACHMENTS:

A. Resolution 47-25 Approving the Closure of a Portion of Orinda Way and All of Avenida de Orinda for the Orinda Classic Car Show (Traffic Order 239) Respectfully Submitted by:

Scott Christie
Public Works Director
Prepared By: Kevin McCourt, Assistant Engineer
Approved by:

F.4
Packet Pg. 96
F.4
Packet Pg. 97
RESOLUTION NO. 47-25

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORINDA

APPROVING THE CLOSURE OF A PORTION OF ORINDA WAY AND ALL OF AVENIDA

DE ORINDA FOR THE ORINDA CLASSIC CAR SHOW
TRAFFIC ORDER NO. 239
WHEREAS, the 21ST Orinda Annual Classic Car Show and associated activities located in the Orinda Downtown Village District will take place between 6:00 a.m. to 5:00 p.m. on Saturday September 6, 2025; and
WHEREAS, the event will be held between 10:00 a.m. to 2:00 p.m., which will require the following street closures:
1) Full Closure of Orinda Way between Camino Pablo and Camino Sobrante 2) Full Closure of Avenida De Orinda; and
WHEREAS, for the safety of all concerned including participants and spectators, this will require the above listed street closures on Saturday, September 6, 2025, between 6:00 a.m. to 5:00 p.m.; and
WHEREAS, under Section 21101, paragraph (e) of the Vehicle Code, a local authority may adopt by resolution, a temporary closure of a street for a special event when the closure is necessary for the safety and protection of the users of the street during the event.

NOW THEREFORE BE IT RESOLVED, that the City Council hereby approves the above listed street closures in downtown Orinda for the Orinda Annual Classic Car Show on Saturday September 6, 2025, from 6:00 a.m. to 5:00 p.m.

Adopted by the City Council of the City of Orinda at a regular meeting on August 19, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

Latika Malkani, Mayor
ATTEST:

Sheri Marie Smith, City Clerk
F.4.a
Packet Pg. 98
Attachment: Resolution 47-25 Approving the Closure of a Portion of Orinda Way and All of Avenida de Orinda for the Orinda Classic Car Show City Council
Staff Report
Agenda Item: F.5
Date: August 19, 2025
Department:

Public Works and
Engineering Services
AGENDA TITLE: Acceptance of Work and Contract with Cowan & Thompson Construction, Inc.

RECOMMENDATION:

Adopt Resolution No. 44-25 to Accept the Work and Contract with Cowan & Thompson Construction, Inc. for the Drainage Facilities Improvement Project (CIP #4111).

BACKGROUND:

At its April 7, 2025, meeting, the City Council awarded the subject construction contract to Cowan & Thompson Construction, Inc. to slip line a failing 24” CMP stormdrain pipe (PL-1671) under Miner Rd. near address #704, for an amount of $69,425.

DISCUSSION:

The work was substantially completed in the field on July 23, 2025, for the contract amount. To issue the payment of the final retention to the contractor and close out the contract, acceptance by the City Council is required, as indicated in the attached resolution.

NEXT STEPS:

Upon City Council approval, the City Engineer or Public Works Director will sign the attached Notice of Completion, and the City Clerk will record it with Contra Costa County Clerk-Recorder’s office. Retention (5% of the contract value) will be released in accordance with the contract documents and the Public Contract Code.

FISCAL IMPACT:

Project #4111 is included in the approved CIP (capital improvement plan) and has sufficient balance to cover this contract expenditure. Funding is provided by Fund #704, Road/Drainage Stabilization.

ATTACHMENTS:

A. Resolution 44-25 Accepting the Work and Contract Cowan & Thompson Construction, Inc. for the Drainage Facilities Improvement Project (CIP #4111) B. Notice of Completion
Respectfully Submitted by:

Scott Christie
Public Works Director
F.5
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Prepared By: Scott Christie, Public Works Director
Approved by:

F.5
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RESOLUTION NO. 44-25

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORINDA

ACCEPTING THE WORK AND CONTRACT WITH COWAN & THOMPSON
CONSTRUCTION, INC. FOR DRAINAGE FACILITIES IMPROVEMENT PROJECT (CIP #4111)
WHEREAS, Cowan & Thompson Construction, Inc., has completed the work in accordance with the construction contract documents for the Drainage Facilities Improvement Project (CIP #4111) to slip line a storm drainpipe near 704 Miner Rd.; and WHEREAS, the Director of Public Works has recommended that the work be accepted as complete.

NOW THEREFORE BE IT RESOLVED that the City Council of the City of Orinda hereby accept the work accomplished by Cowan & Thompson Construction, Inc., under the terms and conditions of the above-referenced construction contract documents.

Approved by the City Council of the City of Orinda at a regular meeting on August 19, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
_________________________________
Latika Malkani, Mayor
ATTEST:
_________________________________
Sheri Marie Smith, City Clerk
F.5.a
Packet Pg. 101 Attachment: Resolution 44-25 Accepting the Work and Contract Cowan & Thompson Construction, Inc. for the Drainage Facilities Improvement

RECORDING REQUESTED BY AND
WHEN RECORDED, RETURN TO:

City Clerk/Public Works Dept.

City of Orinda
22 Orinda Way
Orinda, CA 94563

NO FEE DOCUMENT
(Government Code section 27383)
TITLE:

Notice of Completion for
Drainage Facilities Improvement Project (CIP #4111)
(Contractor: Cowan & Thompson Construction, Inc.)
NOTICE IS HEREBY GIVEN by the undersigned, those certain improvements, to wit:

Drainage Facilities Improvement Project (CIP #4111)
Project location: Miner Road near address #407 in the City of Orinda, Contra Costa County, California:

Property Owner: Interest in Property or Right of Way is owned by City of Orinda (a municipal corporation, 22 Orinda Way, Orinda CA 94563)
The contract which has heretofore been let to Cowan & Thompson Construction, Inc., and which contract was filed for record in the City Clerk’s office in the City of Orinda, Contra Costa County, California, was actually completed in accordance with the plans and specifications, and the work was completed and accepted by the City of Orinda, on 8/19/2025 Information pertaining to the estimate of cost, names of bidders with prices bid, changes in adopted and approved plans and specifications, and the total cost of work is on file at the City Clerks’ office of the City of Orinda.

CITY OF ORINDA,
a municipal corporation
Date: ________________ By: ____________________________________ Scott Christie, Public Works Director
City of Orinda
22 Orinda Way
Orinda, CA 94563
I hereby certify, under penalty of perjury, that the above Notice of Completion was duly accepted by the City Council of the City of Orinda at a regular meeting thereof held on 8/19/2025. ______________________________
Sheri Smith, City Clerk
F.5.b
Packet Pg. 102 Attachment: Notice of Completion (3680 : Accept Cowan & Thompson Work and Contract) City Council
Staff Report
Agenda Item: F.6
Date: August 19, 2025
Department: Finance
AGENDA TITLE: Adoption of Resolution No. 45-25 Establishing the Property Tax Rates for the General Obligation Bond Series 2014 and Series 2016 for Fiscal Year 2025-26 RECOMMENDATION:

BACKGROUND:

The voters in Orinda authorized two General Obligation Bond measures by a two-thirds vote, increasing taxes to repair streets and storm drains. Each year, the City must establish the tax rate necessary to generate sufficient property tax revenue necessary to repay the bonds.

On June 3, 2014, voters in Orinda authorized the issuance of $20 million in General Obligation Bonds for Road and Storm Drain Repair Projects. The bonds were issued in two separate transactions of $10 million each. The first issuance occurred in March 2015, (“2014 General Obligation Bonds, Series A”) and the second issuance of $10 million was completed in April 2017 (“2014 General Obligation Bonds, Series B”).

On June 7, 2016, voters in Orinda authorized the issuance of an additional $25 million in General Obligation Bonds for Road and Storm Drain Projects. In April 2017, the City issued Bonds for the entire $25 million authorized (“2016 General Obligation Bonds, Series A”).

General Obligation Bonds are payable from a dedicated ad valorem tax on property within the City. The property tax levy is set once a year, typically in July or early August.

The taxes placed on the roll generate revenues in December and April. By requesting that the County place the tax on the roll for Fiscal Year 2025-26, the City can ensure that tax revenues are available to make scheduled debt service payments on the General Obligation Bonds that are due in March 2026 and September of 2026.

The ad valorem tax is calculated annually based on preliminary assessed property values (AV) as adjusted for exemptions and delinquencies. This is then compared to the debt service schedule for each of the three different bond issues to develop a tax rate that will collect the necessary funding. The amount required is also adjusted to the extent there is any estimated excess cash on hand from the previous year’s taxes that can be applied towards the debt service. The format of the calculation historically used by the City was developed in consultation with representatives of Stifel, Nicolaus & Company (Stifel), who served as the underwriters for each of these bond issues.

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The annual tax rate will fluctuate throughout the bond repayment period. Factors that impact on the tax rate include a) increases or decreases in the scheduled debt service payments; b) increases or decreases in the assessed valuations; and c) estimated excess cash on hand that can be applied towards debt service.

DISCUSSION:

Resolution No. 45-25 has been prepared to request that Contra Costa County levy a tax on property within the City necessary to provide the funding required for the outstanding General Obligation Bonds (Attachment A). The format used by the County is to present the calculation based on a rate per $100 of Assessed Valuation. For informational purposes, Staff have also provided the rate per $100,000 of assessed value in the table below as well as a comparison to the 2024-25 Tax Levy. Details of the calculation are included in Attachment B.
2025-25 Ad Valorem Tax Rates for Orinda General Obligation Bonds with a Comparison to Fiscal Year 2024-25 Rate
Bond Authorization
2025-26 Tax Levy
Rate Per $100
Assessed Value
2025-26 Rate
Per $100,000
Assessed Value
2024-25 Rate
Per $100,000
Assessed Value
2014 General Obligation
Bonds - $20 Million (Series A
Issued March 2015 & Series
B Issued April 2017)
$ 0.0110 $11.00 $11.80
2016 General Obligation
Bonds - $25 Million (Series A
Issued April 2017)
$ 0.0160 $16.00 $17.90
Total G.O. Bond Tax Levy $ 0.0270 $27.00 $29.70
The combined rate for the upcoming year is lower than the rate levied last year primarily due to the increase in taxable secured assessed valuation from $9,763,659,673 to $10,172,464,883 while the changes in the other factors (cash on hand and debt service due) were relatively immaterial.

As part of the bond financing process, estimates were prepared by Stifel to project the highest tax rate required to service the debt. The amount levied in 2025-26 remains below the estimates presented in the Tax Rate Statement financing documents. The “Highest Estimated Tax Rate” for the 2014 authorization was $20.00 compared to the proposed $11.00. The “Highest Estimated Tax Rate” for the 2016 authorization was $21.47 compared to the proposed $16.00.

NEXT STEPS:

Upon adoption, Staff will provide the request for the tax levy to Contra Costa County officials for inclusion on the 2025-26 Property Tax bills that are distributed to property owners after September 1, 2025.

F.6
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FISCAL IMPACT:

The Resolution will ensure property tax revenues are available, as approved by the voters of Orinda, to make debt service payments on the City’s General Obligation Bonds as they come due. The rates are estimated to result in taxes totaling $2,731,238.

ATTACHMENTS:

A. Resolution 45-25 Establishing Property Tax Rates for Bonded Indebtedness for Fiscal Year 2025-26
B. 2014 and 2016 General Obligation Bonds Tax Rate Calculation for Fiscal Year 2025-26
Respectfully Submitted by:

Douglas Alessio
Assistant City Manager
Prepared By: Douglas Alessio, Assistant City Manager
Approved by:

F.6
Packet Pg. 105
RESOLUTION NO. 45-25

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORINDA

ESTABLISHING PROPERTY TAX RATES FOR BONDED INDEBTEDNESS FOR FISCAL YEAR 2025-26
WHEREAS, the City Council of the City of Orinda, located in the County of Contra Costa, California, is obligated to direct Contra Costa County to collect such ad valorem taxes in such amounts and at such times as is necessary to ensure the timely payment of debt service on voter approved Bonds issued by the City; and WHEREAS, the total taxable secured assessed valuation of the City of Orinda as reported by the Contra Costa County Assessor is $10,172,464,883.

NOW, THEREFORE BE IT RESOLVED, that the property tax rate within the City for the City of Orinda General Obligation Bonds, Election of 2014, Series A and Series B, for the fiscal year ending June 30, 2026 is hereby established at a combined rate of $0.0110 per $100 assessed value and that the property tax rate within the City for the City of Orinda General Obligation Bonds, Election of 2016, Series A for the fiscal year ending June 30, 2026 is hereby established at $0.0160 per $100 assessed value.

BE IT FURTHER RESOLVED, that the City Manager is hereby authorized and directed to prepare and provide the tax rates to the officers of Contra Costa County responsible for preparing and implementing the collection of the tax levy for bonds of the City.

Adopted by the City Council of the City of Orinda on August 19, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

Latika Malkani, Mayor
ATTEST:

Sheri Marie Smith, City Clerk
F.6.a
Packet Pg. 106 Attachment: Resolution 45-25 Establishing Property Tax Rates for Bonded Indebtedness for Fiscal Year 2025-26 (3681 : Tax Rate General Row 1. Calculate 2025-26 Net Taxable Assess Valuations
1 2025-26 taxable secured assessed valuation of the City (est): 10,172,464,883.00 $ Delinquency Factor
2 Less: delinquency factor shown at right (includes exemptions) 1.00% $ (101,724,648.83) 3 Equals: 2025-26 net taxable secured assessed valuation of the City: 10,070,740,234.17 $ 4 2025-26 taxable unsecured assessed valuation of the City (est): 40,382,351.00 $ 5 Less: delinquency factor shown at right (includes exemptions) Delinquency Factor (807,647.02) $

2.00%
6 Equals: 2025-26 net taxable unsecured assessed valuation of the City: 39,574,703.98 $

2. Calculate 2025-26 Net Requirement for Secured Property 7 2024-25 secured tax rate $ 0.0118
8 2025-26 revenue from unsecured taxable property based on 2024-25 secured tax rate 4,669.82 $ 9 2025-26 semi-annual net debt service requirements:

Series A March 1, 2026 82,831.25 $
Series B March 1, 2026 148,012.50 $
Series A September 1, 2026 487,831.25 $
Series B September 1, 2026 533,012.50 $
10 Total 2025-26 annual debt service requirement (net of premium): 1,251,687.50 $ 11 $ 1,247,017.68
12 Adjustment For Estimated Excess Cash Balance Applied Toward Debt Service 139,000.00 $

3. Calculate 2025-26 Secured Tax Rate per $100 of Secured Assessed Value 13 Net 2025-26 debt service requirement for secured property $ 1,108,017.68 14 Calculated 2025-26 secured tax rate per $100 of secured assessed value $ 0.0110 Rate Per $100,000 Asessed Value 11.00 $
Net requirement for secured taxable property after considering revenues from unsecured property City of Orinda
General Obligation Bonds, Election of 2014, Series A and Series B Tax Rate Calculation Details For Fiscal Year 2025-26
Prepared 7/8/2025
F.6.b
Packet Pg. 107 Attachment: 2014 and 2016 General Obligation Bonds Tax Rate Calculation for Fiscal Year 2025-26 (3681 : Tax Rate General Obligation Bonds Row 1. Calculate 2025-26 Net Taxable Assess Valuations
1 2025-26 taxable secured assessed valuation of the City ( Preliminary est): 10,172,464,883.00 $ Delinquency Factor
2 Less: delinquency factor shown at right (includes exemptions) 1.00% $ (101,724,648.83) 3 Equals: 2025-26 net taxable secured assessed valuation of the City: 10,070,740,234.17 $ 4 2025-26 taxable unsecured assessed valuation of the City (est): 40,382,351.00 $ 5 Less: delinquency factor shown at right (includes exemptions) Delinquency Factor (807,647.02) $

2.00%
6 Equals: 2025-26 net taxable unsecured assessed valuation of the City: 39,574,703.98 $

2. Calculate 2025-26 Net Requirement for Secured Property 7 2024-25 secured tax rate $ 0.0179
8 2025-26 revenue from unsecured taxable property based on 2024-25 secured tax rate 7,083.87 $ 9 2025-26 semi-annual net debt service requirements:

March 1, 2026 360,775.00 $
September 1, 2026 1,415,775.00 $
10 2025-26 semi-annual net debt service requirements: 1,776,550.00 $ 11 Net requirement for secured taxable property after considering revenues from unsecured property 1,769,466.13 $ 12 Adjustment For Estimated Excess Cash Balance Applied Toward Debt Service 158,000.00 $

3. Calculate 2025-26 Secured Tax Rate per $100 of Secured Assessed Value 13 Adjusted Net 2025-26 debt service requirement for secured property $ 1,611,466.13 14 Calculated 2025-26 secured tax rate per $100 of secured assessed value $ 0.0160 Rate Per $100,000 Asessed Value 16.00 $
City of Orinda
General Obligation Bonds, Election of 2016, Series A
Tax Rate Calculation Details For Fiscal Year 2025-26
Prepared 7/8/2025
F.6.b
Packet Pg. 108 Attachment: 2014 and 2016 General Obligation Bonds Tax Rate Calculation for Fiscal Year 2025-26 (3681 : Tax Rate General Obligation Bonds City Council
Staff Report
Agenda Item: F.7
Date: August 19, 2025
Department:

Public Works and
Engineering Services
AGENDA TITLE: Acceptance of Work and Contract with Satellite Painting, Inc.

RECOMMENDATION:

Adopt Resolution No. 48-25 Accepting the Work and Contract with Satellite Painting, Inc. for the Exterior Building Painting Projects (CIP #’s 4083, 4175 and 4182).

BACKGROUND:

At their April 7, 2025 meeting, the City Council awarded the subject construction contract to Satellite Painting, Inc. for an amount of $172,000, with a contingency of 25% ($43,000).

DISCUSSION:

Work under this contract began April 22, 2025. Staff determined that additional painting work was warranted, including refinishing 30 wood doors at the Library, painting the Community Center window trim a color matching the roof edge trim, and repainting Library benches. The additional work was approved under two change orders, which totaled $38,500, increasing the total contract value to $210,500. All the work has been completed in accordance with the contract specifications.

To issue the payment of the final retention ($10,525, five percent of contract value) to the contractor and close out the contract, it is presented for acceptance by the City Council.

NEXT STEPS:

Upon City Council approval, the Public Works Director will sign the Notice of Completion, and the City Clerk will record it with Contra Costa County Clerk-Recorder’s office. Retention will be released in accordance with the contract documents and the Public Contract Code. It should be noted that the City intends to withhold an amount of $2,000 from the retention payment to account for required documentation not yet received from the contractor. This concerns technical details and product information on wood sealers/stains used, which the contractor has not yet provided. Said withheld amount will not be released until such information is received.

FISCAL IMPACT:

CIP Projects #4083, #4175 and #4182 cover exterior painting of the Community Center, Library and City Hall, and are included in the approved CIP (capital improvement plan).

There is sufficient balance in each of the projects to cover this contract expenditure.

Funding is provided by Fund #700 (Capital Improvement), Fund #520 (Library Assessment) and Fund #603 (Building Maintenance).

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ATTACHMENTS:

A. Resolution No. 48-25 Accepting the Work and Contract with Satellite Painting, Inc. for Exterior Building Painting Projects (CIP# 4083, 4175, and 4182) B. Notice of Completion
Respectfully Submitted by:

Scott Christie
Public Works Director
Prepared By: Scott Christie, Public Works Director
Approved by:

F.7
Packet Pg. 110
RESOLUTION NO. 48-25

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORINDA
ACCEPTING THE WORK AND CONTRACT WITH SATELLITE PAINTING, INC. FOR EXTERIOR BUILDING PAINTING PROJECTS (CIP# 4083, 4175, and 4182) WHEREAS, Satellite Painting, Inc., has completed the work in accordance with the construction contract documents for the exterior painting of the Community Center, Library and City Hall.

WHEREAS, the Director of Public Works has recommended that the work be accepted as complete.

NOW THEREFORE BE IT RESOLVED that the City Council of the City of Orinda does hereby accept the work accomplished by Satellite Painting, Inc., under the terms and conditions of the above-referenced construction contract documents.

Approved by the City Council of the City of Orinda at a regular meeting on August 19, 2025, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
_________________________________
Latika Malkani, Mayor
ATTEST:
_________________________________
Sheri Marie Smith, City Clerk
F.7.a
Packet Pg. 111 Attachment: Resolution No. 48-25 Accepting the Work and Contract with Satellite Painting, Inc. for Exterior Building Painting Projects (CIP#

RECORDING REQUESTED BY AND
WHEN RECORDED, RETURN TO:

City Clerk/Public Works Dept.

City of Orinda
22 Orinda Way
Orinda, CA 94563

NO FEE DOCUMENT
(Government Code section 27383)
TITLE:

Notice of Completion for
Exterior Building Painting Projects (CIP #’s 4083, 4175 and 4182) (Contractor: Satellite Painting, Inc.)
NOTICE IS HEREBY GIVEN by the undersigned, those certain improvements, to wit:

Project location: Community Center (28 Orinda Way), Library (26 Orinda Way) and City Hall (22 Orinda Way), in the City of Orinda, Contra Costa County, California:

Property Owner: Interest in Property is owned by City of Orinda (a municipal corporation, 22 Orinda Way, Orinda CA 94563)
The contract which has heretofore been let to Satellite Painting, Inc., and which contract was filed for record in the City Clerk’s office in the City of Orinda, Contra Costa County, California, was actually completed in accordance with the plans and specifications, and the work was completed and accepted by the City of Orinda, on 8/19/2025
Information pertaining to the estimate of cost, names of bidders with prices bid, changes in adopted and approved plans and specifications, and the total cost of work is on file at the City Clerks’ office of the City of Orinda.

CITY OF ORINDA,
a municipal corporation
Date: ________________ By: ____________________________________ Scott Christie, Public Works Director
City of Orinda
22 Orinda Way
Orinda, CA 94563
I hereby certify, under penalty of perjury, that the above Notice of Completion was duly accepted by the City Council of the City of Orinda at a regular meeting thereof held on 8/19/2025. ______________________________
Sheri Smith, City Clerk
Exterior Building Painting Projects (CIP #’s 4083, 4175 and 4182) F.7.b
Packet Pg. 112 Attachment: Notice of Completion (3694 : Acceptance of Work and Contract with Satelite Painting) City Council
Staff Report
Agenda Item: F.8
Date: August 19, 2025
Department:

Public Works and
Engineering Services
AGENDA TITLE: Award Construction Contract to Miksis Services Inc. for Annual Storm Drain Repair Project (Category B) (CIP #5008 and #5009) RECOMMENDATION:

Award a construction contract to Miksis Services Inc. for Annual Storm Drain Repair Project (Category B), authorize a contingency of 25%, and approve plans for the project.

BACKGROUND:

The City developed a Storm Drain Repair Plan in 2019, which identified pipes that require repairs due primarily to deterioration of corrugated metal pipes (CMP). The pipes were prioritized for repair in two categories, A and B. The Category A pipes are large diameter pipes under arterial and collector roads that were judged to require replacement in three to five years’ time. All the Category A pipes were programmed in the Capital Improvement Plan (CIP). Most of the pipes have been repaired and the remaining ones are scheduled to be completed in summer 2026. Category B pipes are smaller diameter pipes that were judged to require replacement in five to 10 years’ time.

The Category B pipes are programmed as part of annual pavement rehabilitation projects or as separate annual repair projects, which are included in the CIP. With each annual project, the City generally works down the priority list to repair such storm drains.

The subject work combines two years’ worth of Category B projects, #5008 (“2024 Annual Category B Storm Drain Repairs”) and #5009 (“2025 Annual Category B Storm Drain Repairs”). Certain pipes required additional evaluation through CCTV internal inspection which delayed the 2024 project, and Staff determined it would be more efficient to combine both years projects into one contract. The work will consist of repairing eight pipes at six locations. The repairs will primarily use trenchless construction methods by lining the CMP’s with PVC liners. One location will require open trench replacement due to the severity of the pipe’s rusted flowline and installation of a new inlet and manhole.

DISCUSSION:

In accordance with the Municipal Code purchasing requirements and the Public Contract Code, the City advertised for bids for the subject work on July 15, 2025. Four bids were received on August 12, 2025. The bid results are shown below:

Bidders Total Bid
Miksis Services Inc., Healdsburg, CA $408,510
Golden State Construction & Utility Inc, San Francisco, CA $674,000 F.8
Packet Pg. 113
CEAU Co. DBA Castillon Company, Oakland, CA $712,514
FJ&I Engineering Inc., San Pablo, CA $749,610
The engineer’s estimate for the bids was $615,000. Staff reviewed the bids and determined that Miksis Services Inc. is the lowest responsive and responsible bidder and therefore recommends that the contract be awarded to them for $408,510. Staff recommends a 25% contingency which would allow expenditures up to $510,000, to allow for change orders, if warranted. The current available funding for the project is $665,000.

In addition to awarding the bid, approval of the construction plans (Attachment A) is recommended, in accordance with design immunity defense requirements listed under California Government Code Section 830.6.

With respect to CEQA guidelines, the project was determined to be Categorically Exempt under section 15301, class 1, and a Notice of Exemption will be filed with the County Clerk.

NEXT STEPS:

Upon approval of the award, the contract (standard city construction contract) will be routed for signatures. Project construction is estimated to begin in October 2025, after materials are ordered, and to be completed in November 2025.

FISCAL IMPACT:

The potential total construction contract value, including contingency, is $510,000. The budgeted amount for construction for the two subject CIP projects is $605,000 ($290,000 under #5008 and $315,000 under #5009), which is therefore sufficient to cover this contract. Funding is provided by Fund 106, Measure R Add-on sales tax.

ATTACHMENTS:

A. 2024 and 2025 Annual Storm Drain Repair Project Plans Respectfully Submitted by:

Scott Christie
Public Works Director
Prepared By: Ryan Okane, Senior Engineer
Approved by:

F.8
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F.8
Packet Pg. 115

SITE MAP VICINITY MAP
N.T.S. N.T.S. SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009 TITLE SHEET
SHEET: 01 OF 09 DATE: JULY 10, 2025 N.T.S. SHEET INDEX

DESCRIPTION

TITLE SHEET
LOCATION 1: 32 ROBERT ROAD
LOCATION 2: 222 HALL DRIVE
LOCATION 3: 21 MORAGA VIA
LOCATION 4: DONNA MARIA WAY & RITA WAY
LOCATION 5: 119 MORAGA WAY
LOCATION 6: 7 CALVIN DRIVE
CONSTRUCTION DETAILS CD-01
CONSTRUCTION DETAILS CD-02
SHEET
01 02
03 04
05 06
07 08
09 CITY OF ORINDA

CONTRA COSTA COUNTY
2024 - 2025 ANNUAL STORM DRAIN REPAIR PROJECT
(CATEGORY B)
PROJECT NOS. 5008 & 5009 PROJECT LOCATION
32 ROBERT ROAD 119 MORAGA WAYDONNA MARIA WAY & RITA WAY 222 HALL DRIVE 21 MORAGA VIA 7 CALVIN DRIVE

APPROVED BY CITY OF ORINDA

SCOTT CHRISTIE
R.C.E NO. 36272
DIRECTOR OF PUBLIC WORKS & ENGINEERING SERVICES R.C.E. 36272 DATE 7-11-2025
F.8.a
Packet Pg. 116 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 6" AC DIKE
32 ROBERT ROAD 28 ROBERT ROAD 24 ROBERT ROAD 20 ROBERT ROAD 25 ROBERT ROAD

ROBERT ROAD
EXIST. FH LOCATION 1: 32 ROBERT ROAD
STORM DRAIN PIPE. REMOVE &
REPLACE WITH 12" C-900 PVC
REHABILITATION LENGTH: 50 LF
SLOPE=1% MINIMUM
SEE CD-01 FOR TRENCH DETAIL

PRECAST MANHOLE TYPE I
CONNECT TO EXISTING 12" CMP
MATCH EXISTING INVERT (72" +/-)

VERIFY IN FIELD
SEE DETAIL CD-01
EXIST. SHALLOW GAS

LINE, PROTECT IN PLACE
TOP OF PIPE: 48" +/-
EXISTING 12" CMP,

PROTECT IN PLACE
EXIST. 12" SD CMP OPEN PIPE
DEPTH TO INVERT: 60" +/-

TO BE REPLACED
EXIST. DRIVEWAY CULVERT
12" STORM DRAIN
EXIST. WOODEN FENCE 42FT
25FT
SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009
LOCATION 1:
32 ROBERT ROAD
SHEET: 02 OF 09 DATE: JULY 10, 2025 N.T.S. EXIST. WOODEN FENCE

MAINTAIN EXISTING

LANDSCAPING & IRRIGATION
TYPE "G" INLET MODIFIED SIDE OPENING
@ EDGE OF ROAD

MATCH EXISTING UPSTREAM
SEE CD-02 FOR DETAILS
REESTABLISH DITCH @ 2% MIN

SLOPE FROM DRIVEWAY
CULVERT TO TYPE "G" INLET

SIDE OPENING
EXISTING 12" CMP
F.8.a
Packet Pg. 117 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 1 EXISTING 18" PIPE,

PROTECT IN PLACE

EXISTING OPENING
DEPTH TO INVERT: 25" +/-
EXISTING HEADWALL PROTECT IN PLACE LOCATION 2: 222 HALL DRIVE

OPEN PIPE
STORM DRAIN PIPE REHABILITATION 10" PIPE
REHABILITATION LENGTH: 66 LF EXIST. FH HALL DRIVE

HALL DRIVE
222 HALL DRIVE 218 HALL DRIVE 230 HALL DRIVE

CASA REALE

OPEN PIPE OUTFALL
SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009 LOCATION 2:
222 HALL DRIVE SHEET: 03 OF 09 DATE: JULY 10, 2025 N.T.S.

EXISTING 12" CMP
ADDENDUM 1 1
REV: 07.30.2025
F.8.a
Packet Pg. 118 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025

MORAGA VIA

VIRGINIA DR

MORAGA VIA
21 MORAGA VIA 30 MORAGA VIA 32 MORAGA VIA 15 VIRGINIA DR 19 MORAGA VIA 25 MORAGA VIA EX. CATCH BASIN
CB-1619
DEPTH TO INV: 56" +/-
PIPE: PL-543
EXISTING 8" CMP

PROTECT IN PLACE
EXISTING 15" PIPE

PROTECT IN PLACE
LOCATION 3: 21 MORAGA VIA
PIPE: PL-542
STORM DRAIN PIPE REHABILITATION 15" PIPE
REHABILITATION LENGTH: 56 LF +/-

EXISTING STORM DRAIN

PIPE, PROTECT IN PLACE

EXISTING STORM

DRAIN MANHOLE

EXISTING STORM DRAIN

PIPE, PROTECT IN PLACE

EXISTING CATCH BASIN
CB-194
DEPTH TO INV: 25" +/-

EXISTING CATCH BASIN
CB-1618

PROTECT IN PLACE
SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009
LOCATION 3
21 MORAGA VIA
SHEET: 04 OF 09 DATE: JULY 10, 2025 N.T.S. EXISTING 15" CMP F.8.a
Packet Pg. 119 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 50 DONNA MARIA WAY 10 RITA WAY 55 DONNA MARIA WAY 51 DONNA MARIA WAY 47 DONNA MARIA WAY 43 DONNA MARIA WAY 11 RITA WAY 34 DONNA MARIA WAY LOCATION 5: 51 DONNA MARIA WAY
PIPE: PL-2076
STORM DRAIN PIPE REHABILITATION 18" PIPE
REHABILITATION LENGTH: 22 LF
LOCATION 5: 43 DONNA MARIA WAY
PIPE: PL-857
STORM DRAIN PIPE REHABILITATION 18" PIPE
REHABILITATION LENGTH: 112 LF

EXISTING CATCH BASIN
CB-2653
DEPTH TO INVERT: 28" +/-

EXISTING CATCH BASIN
CB-2651
DEPTH TO INVERT: 28"+/-

EXISTING CATCH BASIN
CB-69
DEPTH TO INVERT: 38"+/- RITA WAY

DONNA MARIA WAY

DONNA MARIA WAY
9 RITA WAY
EXISTING PIPE TO REMAIN (2 EA)
PL-860
18" PIPE

PROTECT IN PLACE
EXIST. FH &

POWER POLE
PIPE: PL-859
SIZE: 18" RCP
LENGTH: 10 LF
DEPTH TO INVERT: 25" +/-

PROTECT IN PLACE

PAVEMENT FAILURE REPAIR,
AREA=24FT X 24FT SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009
LOCATION 4:

DONNA MARIA WAY
& RITA WAY SHEET: 05 OF 09 DATE: JULY 10, 2025 N.T.S.

EXISTING 18" CMP
EXISTING 18" CMP
F.8.a
Packet Pg. 120 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025

MORAGA WAY

WESTWOOD COURT

MORAGA WAY
119 MORAGA WAY 115 MORAGA WAY 112 MORAGA WAY 116 MORAGA WAY 120 MORAGA WAY 122 MORAGA WAY124 MORAGA WAY

EXISTING CATCH BASIN
CB-2618
DEPTH TO INVERT: 24"+/-

EXISTING CATCH BASIN
CB-2617
DEPTH TO INVERT-IN: 25" +/- EXISTING CATCH BASIN
CB-1529
DEPTH TO INV: 24" +/-
LOCATION 5: 119 MORAGA WAY
PIPE: PL-239
STORM DRAIN PIPE REHABILITATION 18" PIPE
REHABILITATION LENGTH: 145 LF
LOCATION 5: 115 MORAGA WAY
PIPE: PL-240
STORM DRAIN PIPE REHABILITATION 18" PIPE
REHABILITATION LENGTH: 157 LF

EXISTING CONCRETE PIPE
PL-241

PROTECT IN PLACE
SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009
LOCATION 5:
119 MORAGA WAY SHEET: 06 OF 09 DATE: JULY 10, 2025 N.T.S.

EXISTING 18" CMP EXISTING 18" CMP
1 REV: 08.07.2025 1 ADDENDUM 1 2
2 ADDENDUM 3
F.8.a
Packet Pg. 121 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 LOCATION 7
7 CALVIN DRIVE LIND COURT

CALVIN DRIVE

CALVIN DRIVE
7 CALVIN DRIVE 9 LIND COURT 8 LIND COURT 11 CALVIN DRIVE 6 CALVIN DRIVE EX. CATCH BASIN
CB-1682
DEPTH TO INVERT-OUT: 198" +/-
LOCATION 6: 7 CALVIN DRIVE
PIPE: PL-2073
STORM DRAIN PIPE REHABILITATION 24" PIPE
REHABILITATION LENGTH: 168 LF
EXISTING 42" PIPE
PL-2075

PROTECT IN PLACE
EXISTING 18" PIPE
PL-686

PROTECT IN PLACE
4 GREENWOOD COURT 10 CALVIN DRIVE EXISTING PIPE OPENING

EXISTING STORM DRAIN MANHOLE
DEPTH TO INVERT: 72" +/-
SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009 SHEET: 07 OF 09 DATE: JULY 10, 2025 N.T.S.

LOCATION 6:
7 CALVIN DRIVE
EXISTING 24" CMP
F.8.a
Packet Pg. 122 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009

CONSTRUCTION DETAILS
CD-01
SHEET: 08 OF 09 DATE: JULY 10, 2025 N.T.S. HMA, 6" MINIMUM, SEE NOTE 1

COMPACT EXISTING AB
TO 95%

FINISH SURFACE

PAVEMENT FAILURE REPAIR
N.T.S.

NOTE 1

HMA THICKNESS SHALL BE
6" MINIMUM OR MATCH

EXISTING ASPHALT
THICKNESS PLUS 0.1',
WHICHEVER IS THICKER.

F.8.a
Packet Pg. 123 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 CD27 TYPE "G" INLET MODIFIED SIDE
OPENING DETAIL N.T.S. SCALE:

PREPARED UNDER THE DIRECTION OF:

T. RYAN O'KANE, RCE 73275

CITY OF ORINDA, SENIOR ENGINEER
JULY 10, 2025

CITY OF ORINDA
2024-2025 ANNUAL STORM DRAIN REPAIR PROJECT (CATEGORY B) PROJECT NOS. 5008 & 5009

CONSTRUCTION DETAILS
CD-02
SHEET: 09 OF 09 DATE: JULY 10, 2025 N.T.S.

EXISTING AC DIKE

EXISTING GAS,

PROTECT IN PLACE EXISTING AC DIKE, SAWCUT
& PATCH WITH HMA AT INLET

HMA (SEE STORM

DRAIN TRENCH DETAIL)
TYPE "G" INLET

SAWCUT & PATCH AC DIKE
WITH HMA AT INLET 18" WIDE X 6" HIGH

SIDE OPENING (ON BACK) STORM DRAIN,

REMOVE & REPLACE
1% SLOPE
MIN. REESTABLISH DITCH GRADE TO DRAIN GAS LINE,

PROTECT IN PLACE
18" WIDE X 6" HIGH

SIDE OPENING
(ON BACK) TYPE "G" INLET

STORM DRAIN,

REMOVE & REPLACE
1% SLOPE
MIN

EXISTING GAS,

PROTECT IN
PLACE
NOTE

FOR ADDITIONAL INFORMATION
NOT SHOWN, SEE DETAIL CD27,
THIS SHEET. FINISH PAVEMENT AC DIKE

FLOW LINE
2%
MIN TYPE "G" INLET

EDGE OF

PAVEMENT

REESTABLISH
DITCH
F.8.a
Packet Pg. 124 Attachment: 2024 and 2025 Annual Storm Drain Repair Project Plans (3697 : Award Construction Contract to Miksis Services Inc. for 2024-2025 City Council
Staff Report
Agenda Item: G.1
Date: August 19, 2025
Department: City Council
AGENDA TITLE: Annual Review of Wilder Development Agreement RECOMMENDATION:

BACKGROUND:

On November 15, 1994, the City Council entered into a development agreement with Pacific New Wave Corporation (PNW) setting forth terms related to the development of Gateway Valley, located south of SR 24 and Gateway Boulevard, now referred to as the Wilder Development. OG Property Owners, LLC (OGLLC) acquired the Gateway Property in November 1996 from PNW and is bound by the terms of the 1994 Development Agreement, as amended. Over the years, there have been nine subsequent amendments.

On March 15, 2005, the City Council approved the Second Amendment to the Development Agreement (DA) which provides for development of up to 245 detached single-family residences, and contains provisions for five on-site City playfields, parks, open space, trails, and a community Art and Garden Center (“A&G Center”). The DA also provides the City with substantial financial contributions toward the A&G Center and other community amenities.

Since 2005, there have been additional amendments to the DA. The Seventh DA Amendment, approved in 2016, the Eighth DA Amendment, approved in 2018, and the Ninth DA Amendment, approved in 2024.
• The Seventh DA Amendment approved the Wilder Residential Development Standards and Design Review Process that govern the design, the development, and the process for reviewing plans for new homes in the Wilder Project. This Amendment also specified the components of the Art & Garden Center facility and relocated it to Wilder Park. In addition, OG committed to developing a trailhead area at the former Art & Garden Center location, the red-tailed hawk staging area.
• The Eighth DA Amendment, among other changes, included the adoption of the “Wilder 2018 Circulation Plan,” which depicts the system of trails, paths, roads, meanders and neighborhood connections throughout the Wilder Project. The Wilder 2018 Circulation Plan replaced and superseded the text and figures in the G.1
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Development Agreement, Final Development Plan, the four Final Maps, and the Final Landscape Master Plan.
• The Ninth DA Amendment acknowledged the possible future implementation of a BART/downtown shuttle as having been assigned to the Wilder Homeowners’ Association; removed the requirement for OGLLC to construct the red-tailed hawk staging area, and provided that the entities authorized to take title to the soil disposal area are also authorized to take title to the red-tailed hawk staging area; and reduced the amount of liability insurance that OGLLC is required to maintain.

Annual Review Process
Annual reviews of development agreements are mandated by Government Code Section 65865.1. Article 6 of the DA sets forth detailed procedures for this annual review, beginning with OGLLC’s submittal of a report setting forth its “good faith compliance with the [DA’s] terms and conditions.” OGLLC’s annual review report shall be accompanied by documents and other information reasonably necessary to enable the City Manager to prepare the staff report to the City Council on OGLLC's good faith compliance with the terms of the DA. DA § 6.2. DA section 6.3 provides that the City Manager shall review the annual review report “to ascertain whether Orinda Gateway LLC has complied in good faith with the terms of this Agreement and shall prepare a staff report to the City Council on the City Manager’s conclusions and recommendations.”
The City Council is required to conduct a public hearing at which OGLLC and any other interested persons may submit evidence, written or oral, and may address all the issues that are raised in this Staff Report or that are relevant to the issue of OGLLC’s good faith compliance with the DA. DA § 6.4. After considering all the evidence at the public hearing, the City Council shall determine, based on substantial evidence, whether OGLLC has complied in good faith with the terms and conditions of the DA and related approvals and agreements. The meaning of the term “good faith” varies somewhat with the context in which it is used. However, courts often apply rules of contract interpretation for development agreements.
“Good faith performance or enforcement of a contract emphasizes faithfulness to an agreed common purpose and consistency with the justified expectations of the other party; it excludes a variety of types of conduct characterized as involving ‘bad faith’ because they violate community standards of decency, fairness or reasonableness.” Restatement (Second) of Contracts § 205, Comment a (1979). See also definition of “good faith” in Black’s Law Dictionary:
“A state of mind consisting of in (1) honesty in belief or purpose, (2) faithfulness to one’s duty or obligation, (3) observance of reasonable commercial standards of fair dealing in a given trade or business, or (4) absence of intent to defraud or to seek unconscionable advantage.”
OGLLC is responsible for all costs that the City reasonably incurs for the annual review process. DA § 6.6.1.

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DISCUSSION:

Remaining Obligations Under the DA and Related Approvals Financial
OGLLC is obligated to reimburse the City for costs associated with the implementation, annual monitoring, and other activities related to the DA and the project. This agreement was amended in 2024 to address remaining financial obligations related to the City that had previously been covered under the separate Subdivision Improvement Agreement and Sidewalk Agreement. OGLLC currently has sufficient funds on deposit to meet the requirements of Section 3 of the Agreement. This includes $30,000, or $5,000 per location, for the security for sidewalks remaining to be completed, the obligation for which has been assigned to future property owners in case these are not completed. The Developer may request a return of the funds only if they are current with their other obligations, including funds owed to the Geologic Hazard Abatement District. The balance will be available to reimburse the City if the Developer does not timely do so.

Below is a list of the status of the six locations that are covered by the $30,000 deposit, based on a site review conducted by the Director of Public Works and Engineering on May 29, 2025. The locations are referenced on the attached punch list prepared by consultant Theis & Assoc. on November 9, 2023. A map with the locations highlighted in yellow is included as Attachment B to this report.

1. 27 Bigleaf Rd.- House under construction, no sidewalk

2. 35 Bigleaf Rd.- House under construction, no sidewalk

3. 7 Paintbrush Ln. .- House under construction, no sidewalk

4. 9 Paintbrush Ln. – Vacant lot, no sidewalk

5. 81 Dairy Creek Ln. – House substantially complete, damaged sidewalk has been replaced

6. 85 Dairy Creek Ln. – House under construction, damaged sidewalk has been removed but not replaced
On this basis, one of the locations (81 Dairy Creek Lane, item 5 above) is complete and $5,000 is eligible for release once OGLLC is current with their other obligations.

Additionally, the Developer is obligated to maintain a minimum deposit of $100,000 (in addition to the $30,000 sidewalk deposit). The balance of the deposit account is retained by the City.

Based on the information above, OGLLC is in compliance with their financial obligations to the City.

Insurance
DA section 5.2 requires OGLLC to maintain liability insurance insuring against bodily injury, property damage and personal injury liability arising out of OGLLC’s activities under the DA, with a combined single liability limit of not less than $1,000,000.00 G.1
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(subject to the CPI) per occurrence. OGLLC has provided the City with Insurance Certificates documenting compliance with this requirement.

Completion of Obligations Prior to Transfer of Preserve Areas The Project’s 2006 Resource Management Plan (“RMP”), approved by the U.S. Army Corps of Engineers, U.S. Fish and Wildlife Service, San Francisco Regional Water Quality Control Board, and the California Department of Fish and Wildlife (“CDFW”), sets forth OGLLC’s obligations before the Wilder Preserve Areas can be transferred to the Long Term Landowners – the Orinda Geologic Hazard Abatement District (“GHAD”), the East Bay Regional Park District (“EBRPD”), and the East Bay Municipal Utilities District (“EBMUD”). OGLLC is working with the State and resources agencies to ensure that the obligations of the RMP are met.

Prior to transfer of ownership of open space preserve areas to the GHAD, the EBRPD, and the EBMUD, the OGLLC is responsible for installing Grazing Plan infrastructure in open space areas pursuant to the DA. CDFW and other resources agencies are taking the lead on pursuing compliance with their permit requirements and taking steps necessary prior to the anticipated transfer of the preserve areas to the GHAD, EBRPD and EBMUD. The City will continue to monitor, share information, and cooperate in that process. Timing for the anticipated transfer remains uncertain.

Actions for Public Hearing
Staff recommends the City Council follow the same hearing process this year as it has in prior years:

1. Item called by presiding officer.

2. Presiding officer reviews order of procedure for public hearing.

3. City Attorney reviews City's ex-parte rules.

4. City Council members disclose any ex-parte communications and site visits occurring outside the public hearing relating to the subject of the hearing.

5. Staff summarizes the Staff Report and issues before the City Council.

6. Questions from the City Council to Staff.

7. OGLLC comment (up to 15 minutes)

8. Questions from City Council to OGLLC.

9. Public comment (three minutes per speaker).

10.OGLLC rebuttal and concluding remarks (five minutes)

11.Presiding officer declares public hearing closed and the matter is then before the City Council for deliberation and decision.

NEXT STEPS:

If the City Council finds good faith compliance by OGLLC with the DA and related approvals, the City Manager shall issue a certificate of compliance within 10 days of the decision. DA § 6.5.

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If the City Council finds that OGLLC has not complied in good faith with the DA’s requirements, the City Council shall specify the respects in which OGLLC has failed to comply, and “shall also specify a reasonable time for OGLLC to meet the terms of compliance, which time shall be not less than thirty (30) days and shall be reasonably related to the time necessary to bring OGLLC’s performance into good faith compliance” with the DA. If necessary, the City Council may at a subsequent noticed hearing extend the time for complying to a date certain, or it may terminate or modify the DA as appropriate. DA § 6.4.

FISCAL IMPACT:

None. OGLLC is responsible for reimbursing the City for the cost of preparing the Annual Review.

ATTACHMENTS:

A. OGLLC’s June 16, 2025 Annual Review Report
B. Wilder Sidewalk Map Punch List
Respectfully Submitted by:

Lashun Cross
Planning Director
Prepared By: Celina Palmer, Associate Planner
Approved by:

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OGLLC
2894 S. Coast Highway, Laguna Beach, CA 92651 ~ 949.833.0222 To: Linda Smith, City Manager
City of Orinda (“City”)
Cc: Lashun Cross, Director of Planning
Osa Wolff City Attorney
Members, Orinda City Council
From: OGLLC Property Owner, LLC ("OGLLC"), as successor in interest to Orinda Gateway, LLC
Date: June 16, 2025
Re: Annual Review of Wilder Project

INTRODUCTION
Gateway Development Agreement On November 15, 1994, the City Council entered into a development agreement with Pacific New Wave Corporation (“PNW”) setting forth terms related to the development of Gateway Valley, located south of SR 24 and Gateway Boulevard, now referred to as the Wilder Development. Over the years, there have been nine subsequent amendments. OGLLC, which acquired the Gateway Property in November 1996, is bound by the terms of the 1994 Development Agreement, as amended.

This Annual Review reflects all prior amendments, including the Ninth DA Amendment, adopted in January 2024.
2025 REPORT
The resolution of all remaining issues and outstanding obligations related to Wilder have been approached on a bifurcated basis:

Subdivision Improvements
The obligations related to the completion of the “internal” subdivision improvements and related obligations have been fully resolved, fully completed and expressly accepted by the City of Orinda (“City”). In January 2024, the City approved a Ninth Development Agreement Amendment, Final Development Plan Clarification, and Amended Reimbursement Agreement. A key component of this is that the improvements required under the Subdivision Improvement Agreement have been satisfied and that will allow for the release of the remaining subdivision bonds with any remaining financial considerations addressed in the Amendment Reimbursement Agreement. Pursuit to the direction previously provided by the City Council, these recommended actions represent a comprehensive resolution of the subdivision related items that remain outstanding after the balance of items were been completed by the OGLLC to the City’s satisfaction. Outlined below are the relevant provisions of each of the items which the City Council approved in January 2024.

G.1.a
Packet Pg. 130 Attachment: OGLLC’s June 16, 2025 Annual Review Report (3675 : Annual Review of Wilder Development Agreement) Wilder Annual Review
June 2025
2 Ninth Development Agreement Amendment
There were three provisions that were amended with the Ninth Amendment:
• The first acknowledged that OGLLC’s obligation for a Wilder BART Shuttle has been assigned to the Wilder Homeowners Association via their approved CC&R’s. • The second modified the on-going insurance requirements to reduce the level of coverage the Developer needs to provide to be the City’s standard level of $1 Million now that construction and other higher risk activities have concluded. • The third modification was the elimination of the Red Hawk Staging Area which was planned for the upper portion of Wiler Road.

Final Development Plan Modification
The FDP Amendment incorporated several planning entitlements, ordinances, and related approvals that are relevant to governing current and future development in Wilder into the FDP by reference so that all governing standards can be found in one place and reflects the elimination of the Red Hawk Staging Area per the request of the EBRPD.

Subdivision Improvement Agreement, Reimbursement Agreement, and Sidewalk Agreement The following funds remain on deposit with the City:
• Developer Deposit Account Subdivision Deposit Accounts – Approximately $55,000.00. • Subdivision Deposit Accounts – Approximately $101,000.00 • Other Deposit Accounts - Approximately $50,000.00
Of these amounts, $30,000, or $5,000 per location, is considered as security for sidewalks remaining to be completed, the obligation for which have been assigned to future property owners in case these are not completed. The Developer may request return of the $30,000 in $5,000 increments as the sidewalks are completed.

OGLLC is working with the City to verify the terms of a “Tree Deposit” made in 2009.

Resource Management Plan
OGLLC is working with the State and resources agencies to ensure that the obligations are met related to the open space areas (subject to conservation easements) to be owned long-term by the Orinda Geologic Hazard Abatement District, the East Bay Municipal Utilities District, and the East Bay Regional Parks District:
• The 10-year “Initial Monitoring Period” under the Resource Management Plan (“RMP”) ended in July 2016 (10 years after the commencement of grading operations in July 2006).

OGLLC completed its monitoring obligations and provided all final reports to the Responsible Agencies, including those for endangered and threatened species, habitat areas, riparian planting areas, and wetlands areas as well as Wildlife Heritage Foundation’s annual monitoring reports. OGLLC is actively involved with the Responsible Agencies final completion of the RMP.

G.1.a
Packet Pg. 131 Attachment: OGLLC’s June 16, 2025 Annual Review Report (3675 : Annual Review of Wilder Development Agreement) Wilder Annual Review
June 2025
3 • Long Term Landowners of open space preserve areas include the Geological Hazards Abatement District (“GHAD”), East Bay Regional Park District (“EBRPD”), and East Bay Municipal Utility District (“EBMUD”), and the conservation easements for these areas are held by Wildlife Heritage Foundation (“WHF”). OGLLC is working with these groups and various regulatory agencies with the goal of transferring open space preserve areas to the Long-Term Landowners in 2025.
• In 2022-2024, OGLLC completed minor improvements and repairs and initiated further work with the Long-Term Landowners on the Grazing Plan, Long Term Management Plan, and financial analyses related to endowments funded in 2011. All of the Grazing Plans were completed in 2024. EBRPD unilaterally decided to revise their plan – and that work is still in process. The other two Grazing Plans were approved by the California Department of Fish and Wildlife (“CDFW”).
• Remaining items in the Grazing Plans are currently being discussed with the GHAD, EBRPD and EBMUD. OGLLC has presented CDFW its analysis that concluded that the endowments are sufficient and will work with the Responsible Agencies to secure equitable use of the funds.

Signage and Lighting Plan
The City and OGLLC, with input and cooperation from EBRPD, will review and update the Signage and Lighting Plan for the project to ensure the signage and lighting ensure clear wayfinding and pedestrian/bicycle and driver convenience and safety. EBRPD has agreed to the conceptual designs, and OGLLC will work with the City and EBRPD on its final implementation.

Historical Information from previous Annual Review Periods:

The information in the 2024 annual report is included by reference.

OGLLC appreciates the opportunity to submit this 2025 DA Annual Review Report.

Chris Yelich
Its Manager
G.1.a
Packet Pg. 132 Attachment: OGLLC’s June 16, 2025 Annual Review Report (3675 : Annual Review of Wilder Development Agreement) G.1.b
Packet Pg. 133
Attachment: Wilder Sidewalk Map Punch List (3675 : Annual Review of Wilder Development Agreement) City Council
Staff Report
Agenda Item: H.1
Date: August 19, 2025
Department: City Council
AGENDA TITLE: Fire Safe Moraga-Orinda Funding Request
RECOMMENDATION:

Receive report from Staff, as well as presentation from Fire Safe Moraga-Orinda.

Discuss the request and provide direction to Staff.

BACKGROUND:

Last year, upon incorporation as a 501(c)(3) nonprofit, Fire Safe Moraga-Orinda (FSMO), with the assistance of City of Orinda staff and its contract grant writers, applied for and was awarded $100,000 from the California Fire Safe Council. The funding is designated to support defensible space and fuel mitigation projects in Orinda and Moraga, as well as in unincorporated areas served by Moraga Orinda Fire District (MOFD).

Under the FSMO model, eligible projects may receive up to a 50% cost share, with a maximum organizational contribution of $10,000 for projects totaling $20,000 or more.

To qualify, the project must include a minimum of five neighboring households willing to assume financial responsibility for half or more of the project cost. FSMO additionally provides comprehensive project management services to ensure all mitigation activities are performed in accordance with recognized best practices for fire fuel reduction.

Recently, the organization has also suggested exemptions for low-income, disabled, elderly, or otherwise financially burdened individuals from the cost-share requirement.

Currently, due to a prolonged reimbursement process on the California Fire Safe Council’s side, the organization is using funds raised from private donations to pay contractors. As a result of this financial constraint, three of the six approved projects have been put on hold, pending the release of the grant funds to FSMO.

On March 7, 2025, the City received a funding request from FSMO, asking the City Council to consider contributing $400,000 in funding annually for a three-year period to support 30 Neighborhood Defensible Space projects each year, as well as support staff for project management and increased Firewise neighborhood outreach.

DISCUSSION:

In response to the request from FSMO, Staff communicated with Marc Evans to discuss the request in greater detail to provide the City Council additional context to the request.

Staff was seeking additional details about how the organization would manage, track, and account for funds to ensure that Orinda tax dollars are used exclusively for projects and staff time within Orinda.

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To the latter matter of staff time, Mr. Evans clarified that FSMO employees are contractors, with the Executive Director (ED) focusing on project management of the Neighborhood Defensible Space projects and tracking time based upon each individual neighborhood project grant. Additionally, the Communications Specialist (CS) role focuses on coordinating the Orinda Firewise Network and includes website development, newsletter distribution, and meeting coordination. Since this position operates district-wide and supports efforts that benefit Orinda yet are not specific or easy to define such FSMO proposes limiting its funding request to a maximum of 50 percent of the position’s cost.

For financial accountability, FSMO has retained Werner Accounting Services, the same firm that supports the Diablo Fire Safe Council. Based on Werner’s guidance, FSMO adopted QuickBooks Online for budget and ledger management to improve its transparency and ability to meet all reporting requirements for grants.

City staff sought clarification on the project selection process and MOFD’s role in prioritization. Mr. Evans confirmed that projects are selected through a competitive application process and in collaboration with MOFD. Notably, Mr. Evans emphasized that MOFD has designated the entire jurisdiction as a Wildland-Urban Interface, highlighting the widespread wildfire risk throughout the region. To this point, FSMO does not use geographic location as the sole criterion for project prioritization. Winddriven embers, a leading cause of structure loss during wildfires, render hyper-local prioritization impractical.

FSMO has also formally submitted funding requests to the Town of Moraga and MOFD.

It is seeking financial support to continue advancing its mission:
“To protect our community from wildfire by providing grant funding to property owners for the purpose of hazardous fuel removal.”
Based on the review of FSMO’s request and subsequent follow up questions, Staff is confident in FSMO’s approach to segregating funds for Orinda projects, as well as the staff support for those projects.

Should the City Council be interested in annual support for FSMO, Staff would recommend the following:
• Refer the matter to the Supplemental Sales Tax Oversight Commission for further review with additional guidance/parameters from the City Council; and • Consider what modifications, if any, would be necessary to existing programs currently being offered by the City, including the current fuel reduction incentive program.

FISCAL IMPACT:

Should the City Council be interested in supporting this request for annual funding, the City would use Measure R funds to accommodate up to $400,000 annually for a period H.1
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of three years. This amount would be offset by existing programmed funding, if the City Council were interested in shifting this responsibility to FSMO.

ATTACHMENTS:

A. Fire Safe Moraga Orinda Funding Request Letter
Respectfully Submitted by:

Micki Cronin
Senior Management Analyst
Prepared By: Micki Cronin, Senior Management Analyst
Approved by:

H.1
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1 March 7, 2025
Subject: City of Orinda Funding Request for Fire Safe Moraga-Orinda ACenDon: Mayor LaDka Malkani
Cc: Vice Mayor Brandyn Iverson, Councilmember Darlene Gee, Councilmember Cara Hoxie, Councilmember Janet Riley, City Manager Linda Smith, City Clerk Sherri Smith, FSMO Board Members Sandy Gross, Jud Hammon, Steve Hoyt, Melanie Light, FSMO ExecuDve Director Rob Schroeder
Mayor Malkani,
Fire Safe Moraga-Orinda (FSMO), a 501(c)(3) non-profit, requests funding from the City of Orinda to help residents within Orinda prepare for and respond to potenDal wildfire. We request consideraDon of $400,000 annual funding; over a three-year period this is $1,200,000.

If funding is provided, this request would:

1. Fund approximately thirty (30) FSMO Neighborhood Defensible Space Projects each year; with an esDmated annual Orinda funding of $300,000. Each project would be a 50/50 cost share where the City of Orinda would provide up to $10,000 per project and the resident group would match the Orinda funded amount, up to $10,000. Cost share allocaDons funded by City of Orinda, for each group of Orinda parcels, would not exceed $10,000 (e.g., cost share maximum allocaDon match of $10,000 provided to residents). If an Orinda resident group requests work that exceeds $20,000 total by the selected Fire Fuels Removal Contractor, the residents would be required to pay 100% of any amount above $20,000 or reduce their project scope. These Neighborhood Defensible Space projects would help approximately 300 Orinda residents annually.

2. Fund a FSMO ExecuDve Director posiDon to manage the FSMO Neighborhood Defensible Space Project porcolio and support outreach to residents across Orinda regarding availability and requirements of these grants. EsDmated annual Orinda funding of $50,000.

This funding request is 1/3 the cost for a full-Dme ExecuDve Director. Please note the current FSMO ExecuDve Director works part-Dme but is available to increase their Dme commitment if this funding is provided.

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Packet Pg. 137 Attachment: Fire Safe Moraga Orinda Funding Request Letter (3686 : Fire Safe Moraga-Orinda Funding Request) 2 3. Fund a New Firewise CommunicaDon Specialist. This Firewise posiDon was recently added to the FSMO organizaDon and is a key enabler to increase engagement of ALL residents across Orinda. EsDmated annual Orinda funding of $50,000. This posiDon supports exisDng Moraga-Orinda Firewise Network (MOFN) Neighborhoods and creaDon of New Firewise Neighborhoods via website update and improvement, monthly newsleCer, support for MOFN bi-monthly Leaders meeDng, and support of outreach events including the Annual City of Orinda Wildfire Safety and Preparedness Fair. This funding request funds 40% of this posiDon.

Please let me know if you have quesDons or you would like a formal proposal / presentaDon in the future.

Thank you,
Marc Evans
60 Monte Vista Road
Orinda, CA 94563
Fire Safe Moraga-Orinda President
Moraga-Orinda Firewise Network Chairperson
[email protected]
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Packet Pg. 138 Attachment: Fire Safe Moraga Orinda Funding Request Letter (3686 : Fire Safe Moraga-Orinda Funding Request)

Orinda City CouncilAugust 19, 2025

Orinda City Council
August 19, 2025