1. CALL MEETING TO ORDER
Note: All City Council memberships are reflected in their City Council titles.
2. ROLL CALL
MAYOR BISHOP, MAYOR PRO TEM LOA, COUNCILMEMBERS OHLSEN,
BETTENCOURT, ALARC
Ó
N
3. PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE
PUBLIC COMMENT RULES
“(California Government Code Section 54954.3).
(a) Every agenda for regular meetings shall provide an opportunity for members of the public to directly address the legislative body on any item of interest to the public, before or during the legislative body’s consideration of the item, that is within the subject matter jurisdiction of the legislative body, provided that no action shall be taken on any item not appearing on the agenda unless the action is otherwise authorized by subdivision (b) of Section 54954.2 [section omitted].
(b) (1) The legislative body of a local agency may adopt reasonable regulations to ensure that the intent of the subdivision (a) is carried out, including, but not limited to, regulations limiting the total amount of time allocated for public testimony on particular issues and for each individual speaker.
(2) Notwithstanding paragraph (1), when the legislative body of a local agency limits
CITY COUNCIL
SUCCESSOR AGENCY
CITY COUNCIL CHAMBER
38300 SIERRA HIGHWAY
SUITE B
PALMDALE, CA 93550
WEDNESDAY, FEBRUARY
7, 2024
5:00 PM
www.cityofpalmdale.org
WELCOME
City Council
Wednesday, February
7, 2024
time for public comment, the legislative body of a local agency shall provide at least twice the allotted time to a member of the public who utilizes a translator to ensure that non- English speakers receive the same opportunity to directly address the legislative body of a local agency.”
In furtherance of Section 54954.3 of the Brown Act, the public is allotted to speak a total of two (2) minutes on the entirety of the Consent Calendar(s), Appointment(s), New Business and Closed Session, with two (2) minutes on each Public Hearing, and, if desired, an additional two (2) minutes on items not on the agenda that are within the subject matter jurisdiction of the City Council. As specified in the Brown Act, a speaker utilizing a translator will receive twice the amount of time specified.
4. PUBLIC COMMENTS
CONSENT CALENDAR(S), APPOINTMENT(S), NEW BUSINESS, AND CLOSED SESSION: Now is the time for public participation on items listed on the Consent Calendar(s), Appointment(s), New Business, and Closed Session. Each speaker is allotted two (2) minutes in total for the entirety of the above sections.
5. CONSENT CALENDAR
All matters listed under the Consent Calendar will be enacted by one motion unless an item(s) is pulled by Council, in which case the item(s) will be removed from the Calendar and will be considered separately following this portion of the Agenda.
5.1 Waive full reading of the Resolution(s) and/or Ordinance(s) to be considered and voted on at this meeting. (This allows for reading the title only in lieu of reciting the entire text).
5.2 Receive and File the monthly and quarterly investment activity report for December 2023.
SR Investment Report DEC 2023.docx
Rpt - City & SA Monthly & Quarterly Investment Reports Dec 2023.pdf
5.3 Approve Requisition No. 240740 with Warren-Anderson Ford, Inc. for the purchase of one Roadline Model GPMT Graffiti Removal Truck in an amount not to exceed $156,947.
SR Req. No. 240740 with Warren-Anderson Ford Inc.docx
Req. No. 240740 with
Warren-Anderson Ford, Inc.pdf
Quote Warren-Anderson Ford Graffiti Removal Truck.pdf
Photos of Graffiti Removal Truck.pdf
5.4 Notice of Completion - Accept public improvements for McDonald's located at 1671 E. Palmdale Boulevard.
SR NOC.docx
City Council
Wednesday, February
7, 2024
Exh A List of Completed Public Improvements.docx
Exh B Vicinity Map.docx
NOC.docx
Photo of Site.pdf
5.5 Approve agreement with Jones Lang Lasalle (JLL), Incorporated for a California Air Resources Board (CARB), Fleet Electrification and Microgrid Study in the amount of $150,000 for a term of six months from the date of the Notice to Proceed.
SR Agrmt No. A-8659 with Jones Lang LaSalle Incorporated.docx
Agrmt No. A-8659 with Jones Lang LaSalle Incorporated.pdf
5.6 Approve the City's 2024 State and Federal Legislative Platform to promote Palmdale's priorities and legislative initiatives at the State and Federal levels.
SR 2024 Legislative Platform.docx
2024 Fed State Legislative Platform.docx
5.7 Approve the minutes from the previous meetings.
CC - January 24, 2024
Minutes 01 24 2024 CC.pdf
6. PUBLIC HEARING
6.1 Adopt Resolution No. CC 2024-017, a Resolution of the City Council of the City of Palmdale; Denying Appeal 24-0002 and upholding Planning Commission Resolution No. PC-2024-001 to deny General Plan Amendment 23-0001, Zone Change 23-0002, and Specific Plan Amendment 22-001.
SR Reso No. CC 2024-017.docx
Reso. No. CC 2024-017 .docx
Exh A Reso. No. CC 2024-017.docx
Exh B Reso. No. CC 2024-017.docx
Exh C Reso. No. CC 2024-017.docx
Exh D Reso. No. CC 2024-017.pdf
Reso. No. PC-2024-001.pdf
6.2 Introduce and adopt Ordinance No. 1638, an Ordinance of the City Council of the City of Palmdale, approving Comprehensive Development Plan 23-0003; a request to amend the existing language within the Antelope Valley Auto Center Specific Plan to be consistent with the Palmdale Municipal Code and find that the request is exempt from Environmental Review.
SR Ord. No. 1638.docx
Ord. No. 1638.docx
Exh A Ord. No. 1638.pdf
Exh B Ord. No. 1638.pdf
City Council
Wednesday, February
7, 2024
PPT Ord. No. 1638.pptx
6.3 Introduce and adopt Ordinance No. 1639, an Ordinance of the City Council of the City of Palmdale, recommending City Council approval of General Plan Amendment 23-0006, Zoning Ordinance Amendment 23-0004 and Zone Change 23-0005, a request to amend the Noise Element of the General Plan, the Development Standards for Mixed-Use Zones, Land Use Map and Zoning Map to address inconsistencies and finding that the project is consistent with Program Environmental Impact Report 22-002 prepared and certified in conjunction with the City’s General Plan.
SR Ord. No. 1639.docx
Ord. No. 1639.docx
Exh A Ord. No. 1639.pdf
Exh B Ord. No. 1639.pdf
Exh C Ord. No. 1639.pdf
PPT Ord. No. 1639.pptx
7. REPORTS AND ACTION ITEMS FROM MAYOR AND / OR COUNCILMEMBERS
7.1 Council Informational Reports on Committee memberships and meetings attended at public expense.
Informational
Report 020724 Bettencourt.docx
Informational Report 020724 Bishop.docx
Informational Report 020724 Loa.docx
Informational Report 020724 Ohlsen.docx
7.2 Council Action Items.
8. CITY MANAGER’S REPORT
9. NON-AGENDA PUBLIC COMMENTS
Now is the time for public participation on items not listed on the agenda. Each speaker is allotted two (2) minutes total.
10. PRESENTATION BY CITY ATTORNEY
10.1 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Land Developers & Associates Corporation v. Successor Agency to the Community Redevelopment Agency of the City of Palmdale, et al.
Los Angeles County Superior Court
Case No. 22AVCV01093
The closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).
City Council
Wednesday, February
7, 2024
11. ANNOUNCEMENT BY CITY ATTORNEY
12. ADJOURN
meeting to February 21, 2024, at 5:00 p.m. in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California.
Americans with Disabilities Act (ADA) Accommodations
In accordance with the Americans with Disabilities Act of 1990, if you require a disability- related modification or accommodation to participate in this meeting, please contact the City Clerk’s Office at (661) 267-5151 at least 72 hours prior to the meeting.
If you require oral translation, please contact the City Clerk’s Office at (661) 267-5151 at least 72 hours prior to the meeting.
City Council
Wednesday, February
7, 2024
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: OPERATIONS DEPARTMENT
FINANCE DIVISION
DISTRICT: ALL
SUBJECT: RECEIVE AND FILE THE MONTHLY AND QUARTERLY
INVESTMENT ACTIVITY REPORT FOR DECEMBER 2023
RECOMMENDATION
Staff recommends that the City Council receive and file the monthly and quarterly investment activity reports for the City of Palmdale and Successor Agency for December 2023.
BACKGROUND
Pursuant to Section 16 of the City of Palmdale and Successor Agency Investment Policy, the City Treasurer shall prepare and present monthly and quarterly reports on investments to the City Manager/Executive Director and the City Council/Directors. The reports shall detail the type of investment, name of the issuer, purchase date, date of maturity, amount of deposit, and rate of interest. This information shall be provided for all City and Successor Agency pooled investments, as well as for Certificates of Participation, Revenue Bonds, Tax Allocation Bonds, Assessment Districts , and Community Facilities District accounts, which are managed by outside Fiscal Agents.
The monthly investment reports provide a synopsis of the investment activity for the City of Palmdale and Successor Agency. The reports provide information on assets, allocations, average maturities, yields, and book valuations. The interest rates presented are the most current rates available as of the date of this report.
The market values pres ented for pooled City and Successor Agency investments are based on closing prices for the related investment as of the date of this report. This information was obtained from the Wall Street Journal, Bloomberg Financial Markets, Capital Market Finances, or other reliable sources of market prices.
Report to Mayor and City Council
Re: Monthly and Quarterly Investment Reports
February 7, 2024
DISCUSSION
Compliance with Investment Policy
For December, the invested portfolio amount for the City of Palmdale totaled $306,405,140, an increase of $277,072 from the previous month, and an increase of $34,299,142 compared to last year. The monthly increase is primarily the result of gains in maturities.
The par value of Successor Agency’s portfolio as of December was $6,976,565. The balance decreased by $978,537 from last month due to debt service payments made during the month.
All investments meet criteria appropriate to Section 8 of the Investment Policy. The portfolios are based on a combination of various investments, including CDs, Corporate Notes, U.S. Treasury Securities, and Government Agency Paper, each adhering to portfolio percentage limitations.
The Finance Division is the custodian for the City and Successor Agency’s investment portfolio and follows the three main principles of both entities’ investment policies to 1) Investment in financial instruments that mitigate the risk of monetary losses stemming from market fluctuations; 2) Establish and maintain a portfolio that has sufficient liquidity to allow the City and Successor Agency to meet all anticipated cash requirements; and 3) Seek out investment instruments that provide a competitive market rate of return.
Liquidity
One core approach the Finance Division focuses on is providing liquidity to measure up to the City and Successor Agency’s operational requirements. Thus, the Finance Division is currently investing in two pooled funds, Local Agency Investment Fund (LAIF) and California Asset Management Program (CAMP). These are intended for daily operational activities and used for economic uncertainties and maintenance needs. The pooled funds provide a higher liquidity ratio to ensure the City and Successor Agency meet cash flow requirements.
The total LAIF balance for the City of Palmdale at the end of December is $128,703,931.
No change from the prior month.
Successor Agency LAIF balance at the end of December was $6,215,832. No change from the prior month.
CAMP’s balance for City of Palmdale at the end of December was $266,599 compared to November balance of $265,347. The slight increase is due to interest earned during the month.
Report to Mayor and City Council
Re: Monthly and Quarterly Investment Reports
February 7, 2024
The interest rates presented are the most current rates available as of the date of this report. As of December 31, 2023, the interest rates for LAIF and CAMP investments were at 3.929 percent and 5.55 percent, respectively. By comparison, the LAIF and CAMP interest rates at the end of November were 3.843 percent and 5.58 percent. Both rates have slightly increased within this month. This time last year, LAIF and CAMP rates were at 2.173 percent and 4.30, respectively.
The chart above shows the Local Agency Investment Fund and California Asset Management Program’s average monthly yields beginning March 2023 through December 2023. The difference between the performance of the two funds is partly due to the varying pool characteristics. CAMP's portfolio composition is more prone to market volatility, resulting in performance variations.
Diversity
The Finance Division aims to diversify the investment portfolios to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.
The City of Palmdale and Successor Agency’s investment portfolios remain strongly diversified. The monthly and quarterly report includes all investments held by both entities and current book values as of December 31, 2023.
It is anticipated that the City of Palmdale and Successor Agency will have sufficient sums of money to meet their expenditure requirements for the next six months. The Finance Division will continue to monitor current economic conditions and the impact on interest rates.
2.83% 2.87% 2.99%
3.17% 3.30% 3.43% 3.53% 3.67% 3.84% 3.93%
4.80% 4.97% 5.16% 5.24% 5.31%
5.52% 5.55% 5.56% 5.58% 5.55%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Q3 Mar Apr May Q4 Jun Jul Aug Q1 Sep Oct Nov Q2 Dec
Pooled Investments Monthly Yields
LAIF CAMP
Report to Mayor and City Council
Re: Monthly and Quarterly Investment Reports
February 7, 2024
Attached are summaries of the investments in the City of Palmdale and Successor Agency’s books as of December 31, 2023.
FISCAL IMPACT
There is no fiscal impact associated with the recommended actions for this report.
STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.
B. Manage resources, costs, and liabilities to ensure the City’s long-term fiscal health.
C. Involve and expand engagement to enhance public oversight and transparency.
Prepared by: Gohar Avetisyan, Senior Financial Analyst
Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney
ATTACHMENTS
Rpt – COP & SA Investment Reports Dec 2023
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
PURCHASE MATURITY ACCOUNT/ FDIC INTEREST PAR PURCHASE INVESTED DATE DATE FUND INSTITUTION Number RATE AMOUNT AMOUNT AMOUNT U.S. TREASURY SECURITIES Yield
05-31-19 04-30-24 CITY 9128286R6 U.S. Treasury Note 2.03 5,000,000.00 5,051,650.00 4,870,312.50 03-19-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 3,000,000.00 3,260,634.36 2,856,570.00 05-11-21 02-28-26 CITY 9128286F2 U.S. Treasury Note 0.66 3,000,000.00 3,261,331.50 2,843,100.00 07-12-21 12-31-23 CITY 9128285U0 U.S. Treasury Note 2.63 5,000,000.00 5,289,959.94 4,934,950.00 06-04-21 12-31-23 CITY 912828V23 U.S. Treasury Note 0.20 4,000,000.00 4,210,026.50 3,940,320.00 07-12-21 12-31-23 CITY 912828V23 U.S. Treasury Note 2.25 5,000,000.00 5,244,161.50 4,925,400.00 05-11-21 12-31-24 CITY 9128283P3 U.S. Treasury Note 0.40 3,000,000.00 3,200,040.56 2,872,020.00 07-12-21 12-31-25 CITY 9128285T3 U.S. Treasury Note 2.63 5,000,000.00 5,451,958.35 4,760,950.00 12-17-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (UBS) 0.85 10,000,000.00 10,045,505.25 9,410,200.00 12-22-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note 0.88 5,000,000.00 5,018,208.38 4,705,100.00 12-20-21 12-15-24 CITY 91282CDN8 U.S. Treasury Note (Stifel) 1.00 5,000,000.00 5,017,187.50 4,705,078.10 03-08-23 03-31-26 CITY 9128286L9 U.S. Treasury Note (UBS) 2.25 3,200,000.00 3,029,330.80 3,010,496.00 TOTAL U.S. TREASURY SECURITIES 56,200,000.00$ 58,079,994.64$ 53,834,496.60$
GOVERNMENT AGENCY PAPER
06-10-20 06-16-25 CITY 3133ELK37 Federal Farm Credit 0.78 5,000,000.00 5,000,000.00 4,604,401.25 08-07-20 05-06-24 CITY 3133EL2X1 Federal Farm Credit 0.42 2,000,000.00 2,000,000.00 1,914,808.08 08-27-20 11-27-24 CITY 3134GWNG7 Freddie Mac Domestic 0.50 2,000,000.00 2,000,000.00 1,867,580.54 04-01-21 04-01-25 CITY 3133EMUP5 Fed Farm Credit 0.71 5,000,000.00 5,000,000.00 4,629,334.75 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond 0.59 1,000,000.00 1,103,275.25 963,220.00 05-11-21 09-04-25 CITY 3133EJYM5 FFCB Bond 0.57 0.57 2,000,000.00 2,208,460.00 1,926,440.00 06-04-21 11-07-25 CITY 3135G06G3 Fannie Mae 0.55 3,000,000.00 2,993,675.25 2,718,300.00 06-04-21 08-01-24 CITY 3130AMHH8 FHLB NOTE 0.41 4,000,000.00 4,000,000.00 3,784,890.08 06-07-21 06-07-24 CITY 3130AMQR6 FHLB NOTE 0.35 3,000,000.00 3,000,000.00 2,857,869.93 06-30-21 12-30-25 CITY 3130AMRQ7 FHLB NOTE 0.88 3,000,000.00 3,000,000.00 2,724,400.26 07-29-21 04-29-26 CITY 3130AN5C0 FHLB NOTE 1.05 4,000,000.00 4,010,455.13 3,606,160.00 12-17-21 11-12-25 CITY 3134GXBM5 FHLMC Note 1.15 1,150,000.00 1,125,785.50 1,036,575.50 12-17-21 12-30-24 CITY 3130AQDY6 FHLB 1.00 6,750,000.00 6,750,000.00 6,327,843.39 12-17-21 06-23-25 CITY 3133ENHW3 FFCB 1.17 10,000,000.00 10,000,000.00 9,275,883.70 12-20-21 07-30-25 CITY 3136G4ZP1 FANNIE MAE 0.65 3,500,000.00 3,444,175.00 3,203,308.12 12-20-21 09-24-25 CITY 3134GWUG9 FREDDIE MAC 0.57 10,000,000.00 9,806,600.00 9,088,861.70 12-21-21 12-22-26 CITY 3133ENJC5 FFCB 1.29 5,000,000.00 5,000,000.00 4,487,676.35 01-14-22 01-14-25 CITY 3130AQEA7 FHLB 1.05 7,000,000.00 7,000,000.00 6,561,152.22 06-29-22 08-12-25 CITY 3133EL3P7 Federal Farm Credit Bank 3.34 1,810,000.00 1,660,349.20 1,650,002.84 06-29-22 03-28-25 CITY 3130A5DH9 Federal Home Loan Bank 3.34 1,950,000.00 1,937,715.00 1,873,133.09 06-24-22 02-26-27 CITY 3130AL5A8 Federal Home Loan Bank 3.33 5,000,000.00 4,479,000.00 4,355,784.25 08-17-22 10-27-26 CITY 3134GW4C7 Freddie Mac Global Unsecured 0.80 5,000,000.00 4,539,500.00 4,429,309.65 01-06-23 02-25-27 CITY 3130AQRH8 Federal Home Loan Bank 4.38 5,000,000.00 4,590,638.89 4,571,978.55 01-06-23 04-19-27 CITY 3130ARHJ3 Federal Home Loan Bank 4.38 5,000,000.00 4,801,354.86 4,742,725.40 05-18-23 05-18-27 CITY 3133EPKC8 Federal Farm Credit Bank Unsec 5.39 5,000,000.00 5,000,000.00 4,949,700.35 06-05-23 05-30-28 CITY 3133EPLE3 Federal Farm Credit Bond 4.67 2,815,000.00 2,822,746.50 2,753,942.65 09-21-23 03-21-24 CITY 3130AXAP3 FEDL HOME LOAN BANK BOND5.75 4,750,000.00 4,746,437.50 4,747,196.18 TOTAL GOVERNMENT AGENCY PAPER 113,725,000.00$ 112,020,168.08$ 105,652,478.83$
CITY OF PALMDALE INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
CORPORATE NOTES
5/17/2023 3/1/2026 CITY 30231GAT9 EXXON MOBIL CORPORATION 3.04 $1,000,000 $982,084 955,987.20 5/17/2023 3/2/2026 CITY 194162AQ6 COLGATE-PALMOLIVE CO GLOBAL4.80 $1,000,000 $1,035,553 1,003,302.97 5/17/2023 1/26/2026 CITY 742718FY0 PROCTER & GAMBLE CO/THE GLOGAL4.10 $1,000,000 $1,018,472 987,613.50 TOTAL CORPORATE BONDS $3,000,000 $3,036,109 2,946,903.67$
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a CITY ACCOUNT 98-19-620 0.78 53,703,651.99 53,703,651.99 53,703,651.99 06/23/08 n/a PCA ACCOUNT 40-19-060 0.78 51,770,665.78 51,770,665.78 51,770,665.78 n/a ARPA ACCOUNT 19-19-004 0.78 23,229,613.46 23,229,613.46 23,229,613.46 TOTAL LAIF ACCOUNTS 128,703,931.23$ 128,703,931.23$ 128,703,931.23$
CAMP- CALIFORNIA ASSET MANAGEMENT PROGRAM
6080-01 n/a CITY ACCOUNT 6080-01 0.30 266,598.65 266,598.65 266,598.65 TOTAL CAMP ACCOUNTS 266,598.65$ 266,598.65$ 266,598.65$
UBS FINANCIAL SERVICES
n/a n/a CITY ACCOUNT 0.00 15,000,730.56 15,000,730.56 15,000,730.56 TOTAL UBS FINANCIAL SERVICES ACCOUNTS 15,000,730.56$ 15,000,730.56$ 15,000,730.56$ TOTAL CITY INVESTMENTS 316,896,260.44$ 317,107,532.27$ 306,405,139.54$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
11-20-84 n/a LIBRARY 16-19-012 0.78 12,894.77
TOTAL LIBRARY INVESTMENTS 12,894.77$
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
BOND PROCEEDS
SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 05-10-95 n/a BOND 95421220 0.35 112.70
05-10-95 n/a IMPROVEMENT 95421222 0.10 163,784.04
City Held Cash(Fund 736-114000) ($255,912.67)
TOTAL SIERRA GATEWAY COMMUNITY FACILITIES DISTRICT 91-1 163,896.74$
BOND PROCEEDS
RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-06-95 n/a RESERVE-SEN 95420880 n/a 0.00
04-06-95 n/a IMPV-ACQUI 95420884 0.01 2,731,970.01
04-06-95 n/a BOND 95420887 0.15 0.15
City Held Cash(Fund 738-114000) ($1,000,675.82)
TOTAL RITTER RANCH COMMUNITY FACILITIES DISTRICT 93-1 2,731,970.16$
BOND PROCEEDS
ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1
Fiscal Agent: U.S. Bank National Association (fka First Trust) 08-01-19 n/a SP TAX - B BOND 242969000 0.00 10.36
08-01-19 n/a RESERVE 242969003 0.00 1,447,030.00
08-01-19 n/a SP TAX - REFUNDING BOND 242969004 0.01 15,150.53 City Held Cash(Fund 734-114000) $1,783,564.45
TOTAL ANAVERDE COMMUNITY FACILITIES DISTRICT 2003-1 1,462,190.89$ City Held Cash(Fund 735-114000) $1,397,569.79
BOND PROCEEDS
2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021 Fiscal Agent: U.S. Bank National Association (fka First Trust) n/a SPEC TRB SER A/B 251009000 0.01 18,730.56
n/a RESERVE FUND 251009001 0.01 649,427.13
City Held Cash
TOTAL 2005 $7.2M COMMUNITY FACILITIES DISTRICT 05-1 (TRADE AND COMMERCE CENTER) REFUNDED 2021668,157.69$
BOND PROCEEDS
2006-1 Godde Hill Estate Sewer Improvements LOIB
Fiscal Agent: U.S. Bank National Association (fka First Trust) 11-08-06 n/a REDEMPTION FUND 106844000 0.01 64,438.69
11-08-06 n/a ADM EXP 106844002 0.01 1,685.36
11-08-06 n/a RESERVE FUND 106844003 0.01 92,546.58
City Held Cash(Fund 739-114000) $148,463.49
TOTAL 2006-1 Godde Hill Estate Sewer Improvements LOIB 158,670.63$
LIBRARY INVESTMENTS
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
PURCHASE MATURITY ACCOUNT INTEREST INVESTED
DATE DATE FUND NUMBER RATE AMOUNT
BOND PROCEEDS
2012 PFA $8.7M LEASE REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 12-19-12 n/a REVENUE FD 201546000 0.00 6.24
12-19-12 n/a INTEREST ACCOUNT 201546001 n/a 0.00
12-19-12 n/a PRINCIPAL ACCOUNT 201546002 n/a 0.00
TOTAL 2012 PFA $8.7M LEASE REVENUE BONDS 6.24$
2013 HA PALMDALE TRANSIT VILLAGE HOMES LLC ESCROW
Fiscal Agent: U.S. Bank National Association (fka First Trust) 10-11-13 n/a ESCROW FUND 206455000 0.00 2,979,524.90
TOTAL 2013 HA TRANSIT VILLAGE HOMES ESCROW 2,979,512.65$ 2015 HA DEBT SERVICE RESERVE
Fiscal Agent: Bank of America
11-19-15 n/a DEBT SVC RESERVE 1257964992 0.08 39,901.56 TOTAL 2015 HA DEBT SERVICE RESERVE 39,901.56$
PARS RESTRICTED CASH FOR PENSION STABILIZATION TRUST FUND 05-23-18 n/a CITY 104790895775 Public Agency Retirement Services2.60 7,879,562.80 TOTAL PARS PENSION TRUST FUND 7,879,562.80$
BOND PROCEEDS
2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 09-03-15 n/a BOND FUND 277067000 0.00 78,244.53
09-03-15 n/a INTEREST ACCT 277067001 0.01 7.06
09-03-15 n/a BOND RESERVE 277067003 0.00 281,016.16
09-03-15 n/a REPAIR & REPLACE FUND 277067004 0.00 1,260,341.06 TOTAL 2015 HA $4.3M MULTIFAMILY HOUSING REVENUE BONDS 1,619,608.81$
BOND PROCEEDS
2017 PFA $17.4M LEASE REVENUE BONDS
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-05-17 n/a REVENUE FUND 271128000 0.00 3.01
04-05-17 n/a PRINCIPAL ACCT 271128002 n/a 0.00
TOTAL 2017 PFA $17.4M LEASE REVENUE BONDS 3.01$
Total City Held Cash (XXX-114000) $2,073,009.24
GRAND TOTAL - FISCAL AGENT CASH 17,035,323.49$
FISCAL AGENT CASH
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
Cash on Hand 12,051,344$
Pooled Cash Investments
City: 306,700,368$
Insur Fund: ($295,229) 306,405,139$
Library Investments $12,895
Subtotal 318,469,378$
City/AD/CFD/PCA/PFA/HA
Fiscal Agent Cash 17,035,323$
Grand total 335,504,701$
The interest rate quoted on LAIF, AIM, and Fiscal Agent/Trustee accounts is the most current rate available.
LAIF & AIM interest rates are as of December 31, 2023.
S:\Cash and Investment\Investment\Investment Reports\23-24\06 Dec 2023\[06 DEC 2023 Investment Report City.xls]Staff Report Notes
SUMMARY OF CASH AND INVESTMENTS
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
CITY OF PALMDALE
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF), CALIFORNIA ASSET MANAGEMENT PROGRAM (CAMP), & UBS FINANCIAL SERVICES December 31, 2023
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
CITY ACCOUNT 98-19-620
Beginning Balance 53,703,651.99$
Subtotal -$ -$ -$ 53,703,651.99$ PCA ACCOUNT 40-19-060
Beginning Balance 51,770,665.78$
Subtotal -$ -$ -$ 51,770,665.78$ LIBRARY ACCOUNT 16-19-012
Beginning Balance 12,894.77$
Subtotal -$ -$ -$ 12,894.77$ ARPA ACCOUNT 19-19-004
Beginning Balance 23,229,613.46$
Subtotal -$ -$ -$ 23,229,613.46$
CAMP - CALIFORNIA ASSET MANAGEMENT PROGRAM
Beginning Balance 265,347.40$
12/30/23 1,251.25 $
Subtotal -$ -$ 1,251.25$ 266,598.65$ UBS Financial Services
Beginning Balance 66,459.93$
12/15/23 15,000,000.00$
12/15/23 84,375.88$
12/29/23 (150,105.25)$
Subtotal 15,000,000.00$ (150,105.25)$ 84,375.88$ 15,000,730.56$ Total 15,000,000.00$ (150,105.25)$ 85,627.13$ 143,984,155.21$ 143,717,556.56$
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
TN= US Treasury C= Call
FP= Federal Paper M= Maturity
CD= Certificate of Deposit CB= Corporate Bond
FACE
PURCHASE MATURITY VALUE INTEREST NET INVESTED GAIN/
ISSUER DATE DATE REDEEMED RECEIVED FUNDS AMOUNT (LOSS)
91282CBA8 U.S. Treasury Note12-17-21 12-15-23 TN US Treasury 10,000,000.00$ M 9,375.00$ 10,009,375.00$ 9,772,300.00 227,700.00 91282CBA8 U.S. Treasury Note12-22-21 12-15-23 TN US Treasury 5,000,000.00$ M 5,000,000.00$ 4,886,150.00 113,850.00 M -$ -
M -$ -
M -$ -
M -$ -
15,000,000.00$ 9,375.00$ 15,009,375.00$ 14,658,450.00$ $341,550.00 Total Number of Transactions: 2
CITY OF PALMDALE
POOLED CASH - INVESTMENTS MATURED OR CALLED
December 31, 2023
CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
DECEMBER 31, 2023
TN = US Treasury
FP = Federal Paper
CD = Certificate of Deposit
CN = Corporate Notes ACCRUED
PURCHASE MATURITY FACE PREMIUM / PURCHASE INTEREST NET Yield
ISSUER DATE DATE VALUE (DISCOUNT) PRICE PURCHASED PURCHASE -$
- -$
- -$
- -$
- -$
-
$0 -$ -$ -$ -$ Total Number of Transactions: 0
CITY OF PALMDALE
POOLED CASH - INVESTMENTS PURCHASED
December 31, 2023
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
December 31, 2023
PURCHASE MATURITY ACCOUNT/ INTEREST INVESTED
DATE DATE FUND INSTITUTION RATE AMOUNT TOTAL
STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND
09-01-84 n/a SA ACCOUNT 65-19-035 0.78 6,215,831.95
6,215,831.95$
FISCAL AGENT CASH
BOND PROCEEDS
CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) Fiscal Agent: U.S. Bank National Association
08-20-02 n/a RESERVE FUND 94460700 2.54 542,973.35
08-20-02 n/a INTEREST ACCT 94460701 0.04 394.45
08-20-02 n/a PRINCIPAL ACCT 94460702 0.04 127.58
TOTAL CRA - 2002 Sub Lien Tax Allocation Bonds $5.3M ($5,329,748.25) 543,495.38$
BOND PROCEEDS
2016 SA $31.5M Tax Allocation Refunding Bonds Series A
Fiscal Agent: U.S. Bank National Association (fka First Trust) 04-26-16 n/a DEBT SERVICE 245113000 0.00 5.84
04-26-16 n/a INTEREST ACCT 245113001 N/A 0.00
TOTAL 2016 SA $31.5M Tax Allocation Refunding Bonds Series A 5.84$ GRAND TOTAL - FISCAL AGENT CASH $543,501
SUMMARY OF CASH AND INVESTMENTS
Cash on Hand 217,232$ 217,232.19$
$0
Pooled Cash Investments 6,215,832$ $0
217,232.19$
Successor Agency Fiscal Agent Cash 543,501$ *
Grand total 6,976,565$
* The interest rate quoted on LAIF and Fiscal Agent/Trustee accounts is the most current rate available.
LAIF interest rates are as of December 31, 2023.
S:\Cash and Investment\Investment\Investment Reports\23-24\06 Dec 2023\[06 DEC 2023 Successor Investment Report.xls]DEC 2023 Monthly
SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALMDALE
TREASURER'S REPORT OF INVESTMENTS
POOLED CASH - LOCAL AGENCY INVESTMENT FUND (LAIF)
December 31, 2023
TRANSACTION INTEREST
DATE DEPOSIT WITHDRAWAL RECEIVED BALANCE
SA ACCOUNT 65-19-035
Beginning Balance 6,215,831.95$
Subtotal -$ -$ -$ 6,215,831.95$
PORTFOLIO REVIEW AND ANALYSIS
City of Palmdale
Palmdale, CA
As of Date: 12/31/2023
Pricing as of: 12/29/2023
Date of Analysis: 01/08/2024
Account Executive: Bill Blackwill
Book Value
285,946
# Securities
42 Average Size (Book)
6,808
Yield at Book
1.26 Market Yield
2.88 $ Gain/Loss
-6,903
% Gain/Loss
-2.4%
Average Life
0.99 Average Life +300bps
0.99 % Price Change +100bps
-0.82
% Price Change +300bps
-2.48
Effective Duration
0.81 Effective Convexity
-0.02
AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Historical Portfolio Overview
12/31/2023
09/30/2023
06/30/2023
03/31/2023
Book Value
285,946
313,945
331,875
305,771
Yield at Book
1.26 1.18
1.16 1.11
Yield at Book (+100)
1.26 1.18
1.16 1.11
Yield at Book (+300)
1.26 1.18
1.16 1.11
Yield at Book (-100)
1.26 1.18
1.16 1.11
WAL
0.99 1.03
1.11 1.22
WAL (+100)
0.99 1.03
1.12 1.22
WAL (+300)
0.99 1.03
1.12 1.22
WAL (-100)
0.94 1.03
1.05 1.22
% Price Change (+100)
-0.8%
-0.9%
-1.0%
-1.1%
% Price Change (+300)
-2.5%
-2.7%
-3.0%
-3.2%
% Price Change (-100)
0.8%
0.9%
1.0%
1.1%
Effective Duration
0.81 0.90
1.02 1.08
Effective Convexity
-0.02
0.00 -0.01
0.00 $ Gain/Loss
-6,903
-10,108
-11,011
-9,844
% Gain/Loss
-2.4%
-3.2%
-3.3%
-3.2%
$ Gain/Loss (+300)
-13,826
-18,209
-20,696
-19,338
Principal Cash Flow 2 yrs out
83%
81%
77%
73%
Principal Cash Flow 2 yrs out (+100)
83%
81%
77%
73%
Principal Cash Flow 2 yrs out (+300)
83%
81%
77%
73%
Principal Cash Flow 2 yrs out (-100)
84%
81%
79%
73%
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Portfolio Sector Summary
Portfolio
Par
Book
Yield
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
@Bk
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Treasury (9)
14.8%
42,200
1.75 1.3 yrs
42,200
1.74 40,883
4.69 1.2
-1.2
-3.5
-1,317
-3.1%
1.27 1.21
0.03 100 %
Agency Bullet (3)
2.1%
6,000
1.76 1.8 yrs
6,000
1.76 5,730
4.38 1.7
-1.7
-4.9
-270
-4.5%
1.77 1.69
0.05 100 %
Callable Agency (23)
37.0%
105,775
1.54 2.0 yrs
105,775
1.54 100,483
4.72 1.5
-1.6
-5.0
-5,292
-5.0%
2.00 1.58
-0.08
100 %
Treasury/Agency (35)
53.8%
153,975
1.60 1.8 yrs
153,975
1.60 147,096
4.70 1.5
-1.5
-4.6
-6,879
-4.5%
1.79 1.48
-0.04
100 %
Industrial (3)
1.0%
3,000
3.98 2.1 yrs
3,000
3.98 2,977
4.36 2.0
-2.0
-5.8
-23
-0.8%
2.14 1.96
0.05 100 %
Corporate (3)
1.0%
3,000
3.98 2.1 yrs
3,000
3.98 2,977
4.36 2.0
-2.0
-5.8
-23
-0.8%
2.14 1.96
0.05 100 %
Cash & Other (4)
45.1%
128,971
0.78 -0.9 yrs
128,971
0.78 128,971
0.78 0.0
0.0 0.0
0 0.0%
0.01 0.01
0.00 100 %
Other (4)
45.1%
128,971
0.78 -0.9 yrs
128,971
0.78 128,971
0.78 0.0
0.0 0.0
0 0.0%
0.01 0.01
0.00 100 %
Total (42)
100.0%
285,946
1.26 0.6 yrs
285,946
1.26 279,043
2.88 0.8
-0.8
-2.5
-6,903
-2.4%
0.99 0.81
-0.02
100 %
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
285,946
285,946
285,946
285,946
285,946
285,946
285,946
Book Value
285,946
285,946
285,946
285,946
285,946
285,946
285,946
Market Value
285,305
283,380
281,264
279,043
276,761
274,441
272,119
Gain/(Loss)
-640
-2,565
-4,681
-6,903
-9,185
-11,504
-13,826
Gain/(Loss) %
-0.2%
-0.9%
-1.6%
-2.4%
-3.2%
-4.0%
-4.8%
Gain/(Loss) % - Chg from Base
2.2%
1.6%
0.8%
0.0%
-0.8%
-1.7%
-2.5%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Yield at Book
1.26 1.26
1.26 1.26
1.26 1.26
1.26 Market Price
99.78 99.10
98.36 97.59
96.79 95.98
95.16 Market Yield
-0.03
0.92 1.93
2.88 3.84
4.81 5.79
WAL
0.85 0.86
0.94 0.99
0.99 0.99
0.99 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Price Risk & Market Value Change by Sector
AFS
HTM
% Change in Market Value from Level
Eff
% Change in Market Value from Level
Eff
Sector
-100
Mkt Value
+100
+200
+300
Dur
-100
Mkt Value
+100
+200
+300
Dur
Treasury/Agency
1.5%
147,096
-1.5%
-3.0%
-4.6%
1.5%
Corporate
2.0%
2,977
-2.0%
-3.9%
-5.8%
2.0%
Other
0.0%
128,971
0.0%
0.0%
0.0%
0.0%
Total
0.8%
279,043
-0.8%
-1.7%
-2.5%
0.8%
Scenario Market Val
281,264
279,043
276,761
274,441
272,119
Scenario Gain/Loss
-4,681
-6,903
-9,185
-11,504
-13,826
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
1.6%
-100 bps
0.8%
Level Market Val
279,043
+100 bps
-0.8%
+200 bps
-1.6%
+300 bps
-2.5%
+400 bps
-3.3%
Effective Duration
0.81 Effective Convexity
-0.02
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Peer Group Comparison
As of
Book
G/L
Yield
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
@Bk
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 11/23
232,377
-1.1
3.09 2.6
2.4 2.6
2.1 -2.2
-6.6
2.2 -0.1
65%
0%
0%
0%
0%
0%
0%
0%
23%
0%
12%
100%
100%
2 09/23
364,109
-5.3
3.21 2.5
2.5 2.5
2.4 -2.3
-6.6
2.3 0.1
76%
0%
0%
0%
0%
0%
0%
0%
0%
24%
0%
100%
100%
3 10/23
205,880
-5.5
3.01 2.1
2.0 2.1
1.9 -1.9
-5.5
1.9 0.0
60%
0%
0%
0%
0%
0%
0%
0%
13%
19%
7%
100%
100%
4 10/23
180,952
-5.5
2.17 2.2
1.9 2.3
1.7 -1.8
-5.6
1.7 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
5 11/23
152,687
-3.1
4.29 2.8
2.6 3.2
2.2 -2.3
-6.8
2.2 0.0
2%
4%
12%
11%
1%
10%
1%
0%
26%
33%
0%
77%
100%
6 09/23
142,654
-4.0
3.80 2.1
2.1 2.1
2.0 -1.9
-5.6
2.0 0.1
72%
0%
0%
0%
0%
0%
0%
0%
0%
1%
27%
100%
100%
7 10/23
140,354
-6.7
1.98 1.9
1.8 1.9
1.7 -1.7
-5.0
1.7 0.0
76%
0%
0%
0%
0%
0%
0%
0%
6%
11%
7%
100%
100%
8 10/23
131,224
-3.4
3.47 1.5
1.1 1.5
1.1 -1.2
-3.6
1.1 -0.1
39%
0%
0%
0%
0%
0%
0%
0%
30%
3%
28%
100%
23%
9 09/23
101,842
-5.1
3.23 2.8
2.6 2.9
2.3 -2.3
-6.9
2.3 -0.1
79%
0%
0%
0%
0%
0%
0%
0%
0%
9%
11%
99%
100%
10 12/23
96,526
-0.1
3.96 2.0
1.7 2.1
1.6 -1.6
-4.7
1.6 0.0
59%
0%
0%
0%
0%
32%
0%
0%
1%
0%
9%
100%
100%
11 12/23
59,386
-1.0
4.46 2.4
1.2 2.6
1.1 -1.4
-4.9
1.2 -0.3
61%
0%
0%
0%
0%
2%
0%
0%
0%
0%
38%
100%
100%
12 09/23
58,320
-5.8
2.23 2.4
2.3 2.4
2.2 -2.1
-6.2
2.1 0.1
74%
0%
0%
0%
0%
0%
0%
0%
24%
0%
2%
100%
100%
13 12/23
53,019
-4.3
2.71 2.4
2.2 2.4
1.9 -2.0
-6.0
1.9 -0.1
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
14 12/23
40,613
-2.1
2.15 1.6
1.3 1.7
1.1 -1.2
-3.7
1.1 -0.1
53%
0%
0%
0%
0%
1%
0%
0%
1%
1%
44%
100%
100%
15 12/23
39,254
-2.0
3.28 1.3
1.2 1.3
1.2 -1.2
-3.4
1.2 0.0
21%
0%
0%
0%
0%
0%
0%
0%
38%
2%
39%
100%
100%
16 09/23
38,036
-5.2
2.22 1.7
1.6 1.7
1.5 -1.5
-4.5
1.5 0.0
37%
0%
0%
0%
0%
0%
0%
0%
34%
0%
28%
100%
100%
17 09/23
37,470
0.4 5.62
1.2 0.7
1.5 0.9
-1.1
-3.5
1.0 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
18 12/23
36,570
-6.8
1.18 2.3
2.3 2.3
2.1 -2.1
-6.2
2.1 0.0
98%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
100%
100%
19 12/23
26,691
-5.6
2.01 2.5
2.4 2.6
2.1 -2.2
-6.6
2.1 0.0
60%
0%
0%
0%
0%
3%
0%
0%
0%
0%
37%
100%
100%
20 12/23
26,100
-4.0
0.23 1.1
1.1 1.1
1.0 -1.0
-2.9
1.0 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
21 09/23
24,387
-5.1
2.52 2.3
2.0 2.3
1.7 -1.8
-5.6
1.8 -0.1
75%
0%
0%
0%
0%
0%
0%
0%
0%
0%
25%
100%
100%
22 09/23
18,389
-5.0
3.05 2.4
2.3 2.4
2.0 -2.1
-6.1
2.0 0.0
38%
0%
0%
0%
0%
3%
0%
0%
20%
4%
35%
100%
100%
23 10/23
16,500
-1.8
2.79 1.0
0.8 1.1
0.8 -0.9
-2.7
0.8 -0.1
88%
0%
0%
0%
0%
0%
0%
0%
0%
0%
12%
100%
100%
24 09/23
14,671
-6.0
2.19 2.4
2.3 2.4
1.9 -2.0
-5.9
1.9 -0.1
51%
0%
0%
0%
0%
15%
0%
0%
0%
0%
34%
100%
100%
25 09/23
12,664
-5.6
2.09 2.1
2.1 2.1
2.0 -1.9
-5.5
1.9 0.1
0%
0%
0%
0%
0%
0%
0%
0%
24%
35%
40%
100%
100%
Avg
90,027
-4.0
2.84 2.1
1.9 2.1
1.7 -1.7
-5.2
1.7 0.0
63%
0%
0%
0%
0%
3%
0%
0%
10%
6%
18%
99%
97%
Port
285,946
-2.4
1.26 1.0
0.9 1.0
0.8 -0.8
-2.5
0.8 0.0
54%
0%
0%
0%
0%
0%
0%
0%
0%
1%
45%
100%
100%
Diff
195,919
1.6 -1.58
-1.1
-0.9
-1.1
-0.9
0.9 2.7
-0.9
0.0 -9%
0%
0%
0%
0%
-3%
0%
0%
-10%
-5%
27%
1%
3%
* Peer group includes Public Entitys that have received portfolio analysis from Stifel in the last three months with the closest portfolio book values.
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Summary Peer Comparison
Yield and Average Life Peer Comparison
Price Risk Peer Comparison
Each box contains the range of your peer group, the top and bottom of the boxes being the max and min. The gray box is the avg. of your peers within the range and the blue dot represents your position.
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Cash Flow and Rolloff Yield - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jan 2024
1.26 128,971
0.78 1.65
Feb 2024
1.65 0
1.65 Mar 2024
1.65 0
1.65 Apr 2024
1.65 5,000
2.23 1.63
May 2024
1.63 2,000
0.42 1.64
Jun 2024
1.64 3,000
0.35 1.67
Jul 2024
1.67 0
1.67 Aug 2024
1.67 4,000
0.41 1.70
Sep 2024
1.70 0
1.70 Oct 2024
1.70 0
1.70 Nov 2024
1.70 2,000
0.50 1.72
Dec 2024
1.72 29,750
1.12 1.88
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
Jan 2024
134,081
134,081
129,045
129,045
129,045
129,045
129,045
Feb 2024
120
120
120
120
120
120
120
Mar 2024
5,036
5,036
5,036
286
286
286
286
Apr 2024
5,194
5,194
5,194
5,194
5,194
5,194
5,194
May 2024
2,081
2,081
2,216
2,216
2,216
2,216
2,216
Jun 2024
3,409
3,409
3,409
3,409
3,409
3,409
3,409
Jul 2024
69 69
69 69
69 69
69 Aug 2024
4,123
4,123
4,123
4,123
4,123
4,123
4,123
Sep 2024
149
149
149
286
286
286
286
Oct 2024
138
138
138
138
138
138
138
Nov 2024
2,079
2,079
2,214
2,214
2,214
2,214
2,214
Dec 2024
30,146
30,146
30,146
30,146
30,146
30,146
30,146
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Cash Flow and Rolloff Yield - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2024
1.26 174,721
0.86 1.88
2025
1.88 60,460
1.16 2.74
2026
2.74 27,950
2.45 3.09
2027
3.09 20,000
2.87 4.67
2028
4.67 2,815
4.67 2029
2030
2031
2032
2033
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
2024
186,625
186,625
181,857
177,244
177,244
177,244
177,244
2025
65,646
64,639
62,148
62,421
62,421
62,421
62,421
2026
22,747
23,762
24,163
29,186
29,186
29,186
29,186
2027
15,112
15,152
20,395
20,418
20,418
20,418
20,418
2028
0 0
2,881
2,881
2,881
2,881
2,881
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Sector Cash Flow - Next 12 Months
Jan 24
Feb 24
Mar 24
Apr 24
May 24
Jun 24
Jul 24
Aug 24
Sep 24
Oct 24
Nov 24
Dec 24
Bk Yld Chg
Treasury/Agency
Cash Flow
48 120
246
5,194
2,216
3,409
48 4,123
246
138
2,214
30,146
End BY
1.60 1.60
1.60 1.58
1.60 1.62
1.62 1.66
1.66 1.66
1.67 1.82
0.22 Corporate
Cash Flow
21 0
39 0
0 0
21 0
39 0
0 0
End BY
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
0.00 Other
Cash Flow
128,976
End BY
Total
Cash Flow
129,045
120
286
5,194
2,216
3,409
69 4,123
286
138
2,214
30,146
End BY
1.65 1.65
1.65 1.63
1.64 1.67
1.67 1.70
1.70 1.70
1.72 1.88
0.24 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Sector Cash Flow - Next 3 Years
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
3Q26
4Q26
Bk Yld Chg
Treasury/Agency
Cash Flow
414
10,819
4,417
32,498
7,409
20,578
18,683
15,632
6,482
4,353
4,959
10,332
End BY
1.60 1.62
1.66 1.82
1.88 2.10
2.43 2.66
2.70 2.88
2.47 3.09
1.49 Corporate
Cash Flow
60 0
60 0
60 0
60 0
3,060
End BY
3.98 3.98
3.98 3.98
3.98 3.98
3.98 3.98
Other
Cash Flow
128,976
End BY
Total
Cash Flow
129,450
10,819
4,477
32,498
7,469
20,578
18,742
15,632
9,542
4,353
4,959
10,332
End BY
1.65 1.67
1.70 1.88
1.94 2.17
2.50 2.74
2.70 2.88
2.47 3.09
1.44 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Yield
Yield
Income
Current Book
at Book
0.25 437
-1,061
0.88 0.50
874
-624
1.04 0.75
1,310
-187
1.19 1.00
1,747
249
1.34 1.25
2,184
686
1.50 1.50
2,621
1,123
1.65 1.75
3,058
1,560
1.80 2.00
3,494
1,997
1.95 2.25
3,931
2,433
2.11 2.50
4,368
2,870
2.26 2.75
4,805
3,307
2.41 3.00
5,242
3,744
2.57 3.25
5,678
4,181
2.72 3.50
6,115
4,617
2.87 3.75
6,552
5,054
3.02 4.00
6,989
5,491
3.18 4.25
7,426
5,928
3.33 4.50
7,862
6,365
3.48 4.75
8,299
6,801
3.63 5.00
8,736
7,238
3.79 5.25
9,173
7,675
3.94 5.50
9,610
8,112
4.09 5.75
10,046
8,549
4.25 6.00
10,483
8,985
4.40 6.25
10,920
9,422
4.55 6.50
11,357
9,859
4.70 6.75
11,794
10,296
4.86 7.00
12,230
10,733
5.01 7.25
12,667
11,169
5.16 7.50
13,104
11,606
5.31 7.75
13,541
12,043
5.47 8.00
13,978
12,480
5.62 Principal Maturing(12 Mo.Horizon): $174,721
Current Yield at Book of Principal Maturing: 0.86%
Est. Annual Income at Current Yield at Book: $1,498
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked Cash Flows By Sector - Next 10 Years
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Cash Flows By Sector - Next 30 Years
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Cash Flow Projection By Month - Next 5 Years
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency - Summary
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
1.3 yrs
100.00
96.88 -1,317
-3.1%
1.27 1.2
1.21 0.03
Treasury (9)
27.4%
42,200
1.75 42,200
1.74 40,883
4.69 -2,756
-6.5%
1.27 -3.5
100.0%
1.8 yrs
100.00
95.50 -270
-4.5%
1.77 1.7
1.69 0.05
Agency Bullet (3)
3.9%
6,000
1.76 6,000
1.76 5,730
4.38 -551
-9.2%
1.77 -4.9
100.0%
2.0 yrs
100.00
95.00 -5,292
-5.0%
2.00 1.5
1.58 -0.08
Callable Agency (23)
68.7%
105,775
1.54 0.2 yrs
105,775
1.54 100,483
4.72 -10,303
-9.7%
2.00 -5.0
100.0%
1.8 yrs
100.00
95.53 -6,879
-4.5%
1.79 1.5
1.48 -0.04
Total (35)
100.0%
153,975
1.60 0.2 yrs
153,975
1.60 147,096
4.70 -13,610
-8.8%
1.79 -4.6
100.0%
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency - Sector Cash Flow and Yield Rolloff - Next 3 Years 1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
3Q26
4Q26
Bk Yld Chg
Cash Flow
414
10,819
4,417
32,498
7,409
20,578
18,683
15,632
6,482
4,353
4,959
10,332
End BY
1.60 1.62
1.66 1.82
1.88 2.10
2.43 2.66
2.70 2.88
2.47 3.09
1.49 Cash Flow
414
10,819
4,417
32,498
7,409
20,578
18,683
15,632
6,482
4,353
4,959
10,332
End BY
1.60 1.62
1.66 1.82
1.88 2.10
2.43 2.66
2.70 2.88
2.47 3.09
1.49 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked Agency Projected Call Schedule
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Monthly
-100
-75
-50
-25
0 25
50 75
100
Dec 23
-
-
-
-
-
-
-
-
-
Jan 24
-
-
-
-
-
-
-
-
-
Feb 24
-
-
-
-
-
-
-
-
-
Mar 24
4,750
4,750
4,750
4,750
-
-
-
-
-
Apr 24
-
-
-
-
-
-
-
-
-
May 24
-
-
-
-
-
-
-
-
-
Jun 24
-
-
-
-
-
-
-
-
-
Jul 24
-
-
-
-
-
-
-
-
-
Aug 24
-
-
-
-
-
-
-
-
-
Sep 24
-
-
-
-
-
-
-
-
-
Oct 24
-
-
-
-
-
-
-
-
-
Nov 24
-
-
-
-
-
-
-
-
-
Callable Agency Rate Shock Analysis
–
Projected Par Value Redeemed at NEXT Call Date
–
Quarterly
-100
-75
-50
-25
0 25
50 75
100
4Q23
-
-
-
-
-
-
-
-
-
1Q24
4,750
4,750
4,750
4,750
-
-
-
-
-
2Q24
-
-
-
-
-
-
-
-
-
3Q24
-
-
-
-
-
-
-
-
-
4Q24
-
-
-
-
-
-
-
-
-
1Q25
-
-
-
-
-
-
-
-
-
2Q25
2,815
2,815
-
-
-
-
-
-
-
3Q25
-
-
-
-
-
-
-
-
-
4Q25
-
-
-
-
-
-
-
-
-
1Q26
-
-
-
-
-
-
-
-
-
2Q26
-
-
-
-
-
-
-
-
-
3Q26
-
-
-
-
-
-
-
-
-
4Q26
-
-
-
-
-
-
-
-
-
1Q27
-
-
-
-
-
-
-
-
-
2Q27
-
-
-
-
-
-
-
-
-
3Q27
-
-
-
-
-
-
-
-
-
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency Projected Call Report - CUSIP Level
Sec
Cpn
Par
Next
Call
Mkt
Gain/
Projected Shocked Call Dates
No.
CUSIP
Issuer
Cpn
Type
Maturity
Value
Call
Type
Price
Loss
-300
-200
-100
Base
+100
+200
+300
8 3130AXAP3
FHLB
5.75 Fixed
09/21/26
4,750
03/21/24
Anytime
99.909
-4
03/24
03/24
03/24
09/26
09/26
09/26
09/26
6 3133EL2X1
FFCB
0.42 Fixed
05/06/24
2,000
01/16/24
Anytime
98.340
-33
05/24
05/24
05/24
05/24
05/24
05/24
05/24
7 3130AMQR6
FHLB
0.35 Fixed
06/07/24
3,000
03/07/24
Quarterly
97.915
-63
06/24
06/24
06/24
06/24
06/24
06/24
06/24
9 3130AMHH8
FHLB
0.41 Fixed
08/01/24
4,000
03/01/24
Quarterly
97.299
-108
08/24
08/24
08/24
08/24
08/24
08/24
08/24
10 3134GWNG7
FHLMC
0.50 Fixed
11/27/24
2,000
02/27/24
Quarterly
96.154
-77
11/24
11/24
11/24
11/24
11/24
11/24
11/24
15 3130AQDY6
FHLB
1.00 Fixed
12/30/24
6,750
01/16/24
Anytime
96.286
-251
12/24
12/24
12/24
12/24
12/24
12/24
12/24
17 3130AQEA7
FHLB
1.05 Fixed
01/14/25
7,000
04/14/24
Quarterly
96.170
-268
01/25
01/25
01/25
01/25
01/25
01/25
01/25
18 3133EMUP5
FFCB
0.71 Fixed
04/01/25
5,000
01/16/24
Anytime
95.168
-242
04/25
04/25
04/25
04/25
04/25
04/25
04/25
19 3133ELK37
FFCB
0.78 Fixed
06/16/25
5,000
01/16/24
Anytime
94.636
-268
06/25
06/25
06/25
06/25
06/25
06/25
06/25
20 3133ENHW3
FFCB
1.17 Fixed
06/23/25
10,000
01/16/24
Anytime
95.129
-487
06/25
06/25
06/25
06/25
06/25
06/25
06/25
21 3136G4ZP1
FNMA
0.65 Fixed
07/30/25
3,500
01/30/24
Quarterly
94.128
-206
07/25
07/25
07/25
07/25
07/25
07/25
07/25
22 3133EL3P7
FFCB
0.53 Fixed
08/12/25
1,810
01/16/24
Anytime
93.824
-112
08/25
08/25
08/25
08/25
08/25
08/25
08/25
25 3134GWUG9
FHLMC
0.57 Fixed
09/24/25
10,000
03/24/24
Quarterly
93.501
-650
09/25
09/25
09/25
09/25
09/25
09/25
09/25
27 3134GXBM5
FHLMC
0.60 Fixed
11/12/25
1,150
02/12/24
Quarterly
93.121
-79
11/25
11/25
11/25
11/25
11/25
11/25
11/25
30 3130AMRQ7
FHLB
0.88 Fixed
12/30/25
3,000
03/30/24
Quarterly
93.309
-201
12/25
12/25
12/25
12/25
12/25
12/25
12/25
37 3130AN5C0
FHLB
1.05 Fixed
04/29/26
4,000
01/29/24
Quarterly
92.762
-290
04/26
04/26
04/26
04/26
04/26
04/26
04/26
39 3134GW4C7
FHLMC
0.80 Fixed
10/27/26
5,000
01/27/24
Quarterly
90.847
-458
10/26
10/26
10/26
10/26
10/26
10/26
10/26
41 3133ENJC5
FFCB
1.29 Fixed
12/22/26
5,000
01/16/24
Anytime
91.789
-411
12/26
12/26
12/26
12/26
12/26
12/26
12/26
42 3130AL5A8
FHLB
0.90 Fixed
02/26/27
5,000
02/26/24
Quarterly
90.168
-492
02/27
02/27
02/27
02/27
02/27
02/27
02/27
40 3130AQRH8
FHLB
2.00 Fixed
02/25/27
5,000
02/25/24
Quarterly
93.325
-334
02/27
02/27
02/27
02/27
02/27
02/27
02/27
38 3130ARHJ3
FHLB
3.18 Fixed
04/19/27
5,000
01/19/24
Monthly
96.076
-196
01/27
04/27
04/27
04/27
04/27
04/27
04/27
11 3133EPKC8
FFCB
5.39 Fixed
05/18/27
5,000
01/16/24
Anytime
99.398
-30
01/24
01/24
04/27
05/27
05/27
05/27
05/27
Shocked Agency Projected Call Schedule - Next 12 Months -300
-200
-100
Base
+100
+200
+300
Dec 23
-
-
-
-
-
-
-
Jan 24
5,000
5,000
-
-
-
-
-
Feb 24
-
-
-
-
-
-
-
Mar 24
4,750
4,750
4,750
-
-
-
-
Apr 24
-
-
-
-
-
-
-
May 24
2,000
2,000
2,000
2,000
2,000
2,000
2,000
Jun 24
3,000
3,000
3,000
3,000
3,000
3,000
3,000
Jul 24
-
-
-
-
-
-
-
Aug 24
4,000
4,000
4,000
4,000
4,000
4,000
4,000
Sep 24
-
-
-
-
-
-
-
Oct 24
-
-
-
-
-
-
-
Nov 24
2,000
2,000
2,000
2,000
2,000
2,000
2,000
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency Projected Call Report - CUSIP Level
Sec
Cpn
Par
Next
Call
Mkt
Gain/
Projected Shocked Call Dates
No.
CUSIP
Issuer
Cpn
Type
Maturity
Value
Call
Type
Price
Loss
-300
-200
-100
Base
+100
+200
+300
36 3133EPLE3
FFCB
4.67 Fixed
05/30/28
2,815
05/30/25
Anytime
98.762
-35
06/25
06/25
05/28
05/28
05/28
05/28
05/28
1.54 105,775
94.997
-5,292
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency - Risk/Reward Analysis
Top 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3130AXAP3
FHLB 5 3/4 09/21/26
Callable Agency
4,746
5.78%
0.45 -3.7
3133EPKC8
FFCB 5.39 05/18/27
Callable Agency
4,970
5.59%
0.89 -5.6
9128286R6
T 2 1/4 04/30/24
Treasury
4,950
5.29%
0.33 -1.0
3133EL2X1
FFCB 0.42 05/06/24
Callable Agency
1,967
5.27%
0.35 -1.0
3130AMQR6
FHLB 0.35 06/07/24
Callable Agency
2,937
5.25%
0.43 -1.3
Bottom 5 Market Yields
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
9128286L9
T 2 1/4 03/31/26
Treasury
3,070
4.16%
2.14 -6.2
9128286F2
T 2 1/2 02/28/26
Treasury
2,895
4.20%
2.05 -5.9
9128285T3
T 2 5/8 12/31/25
Treasury
2,908
4.25%
1.91 -5.5
9128285T3
T 2 5/8 12/31/25
Treasury
4,846
4.25%
1.91 -5.5
3133ENJC5
FFCB 1.29 12/22/26
Callable Agency
4,589
4.26%
2.77 -8.0
Top 5 Price Volatility (% price change +300)
Security
Mkt
Mkt
Eff.
% Px
Δ
CUSIP
Description
Subsector
Value
Yld
Dur
Up 300
3130AL5A8
FHLB 0.9 02/26/27
Callable Agency
4,508
4.26%
2.98 -8.6
3133EPLE3
FFCB 4.67 05/30/28
Callable Agency
2,780
4.98%
2.15 -8.6
3130AQRH8
FHLB 2 02/25/27
Callable Agency
4,666
4.29%
2.77 -8.3
3130ARHJ3
FHLB 3.175 04/19/27
Callable Agency
4,804
4.46%
2.38 -8.1
3133ENJC5
FFCB 1.29 12/22/26
Callable Agency
4,589
4.26%
2.77 -8.0
Next 5 Projected Redemptions
Security
Mkt
Mkt
Eff.
CUSIP
Description
Subsector
Value
Yld
Dur
Mat/Call
9128286R6
T 2 1/4 04/30/24
Treasury
4,950
5.29%
0.33 04/01/24
3133EL2X1
FFCB 0.42 05/06/24
Callable Agency
1,967
5.27%
0.35 05/01/24
3130AMQR6
FHLB 0.35 06/07/24
Callable Agency
2,937
5.25%
0.43 06/01/24
3130AMHH8
FHLB 0.41 08/01/24
Callable Agency
3,892
5.15%
0.58 08/01/24
3134GWNG
7 FHLMC 0 1/2 11/27/24
Callable Agency
1,923
4.88%
0.88 11/01/24
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Corporate - Summary
G/L $
G/L %
WAL
% Px
Δ
Dur
Cvx
Sector
Par
Moody's
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Maturity
S&P
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
Aa2
100.00
99.23 -23
-0.8%
2.14 2.0
1.96 0.05
Industrial (3)
100.0%
3,000
3.98 2.1 yrs
AA-
3,000
3.98 2,977
4.36 -195
-6.5%
2.14 -5.8
100.0%
Aa2
100.00
99.23 -23
-0.8%
2.14 2.0
1.96 0.05
Total (3)
100.0%
3,000
3.98 2.1 yrs
AA-
3,000
3.98 2,977
4.36 -195
-6.5%
2.14 -5.8
100.0%
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Corporate - Rating Summary
Combined Rating Summary
Maturity Summary
Combined Rating
% Balance
Par Value
Yield at Book
Eff. Duration
Maturity Range
% Balance
Par Value
Yield at Book
Combined
Rating
AAA
-
-
-
-
< 1 Yr
-
-
-
-
AA
100.0%
3,000
3.98 1.96
1.00 Yr - 2.99 Yr
100.0%
3,000
3.98 AA
A
-
-
-
-
3.00 Yr - 4.99 Yr
-
-
-
-
BBB
-
-
-
-
5.00 Yr - 6.99 Yr
-
-
-
-
BB
-
-
-
-
7.00 Yr - 9.99 Yr
-
-
-
-
B or Below
-
-
-
-
10 Yr +
-
-
-
-
NR
-
-
-
-
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Other - Summary
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
-0.9 yrs
100.00
100.00
0 0.0%
0.01 0.0
0.01 0.00
Cash & Other (4)
100.0%
128,971
0.78 128,971
0.78 128,971
0.78 -21
0.0%
0.01 0.0
100.0%
-0.9 yrs
100.00
100.00
0 0.0%
0.01 0.0
0.01 0.00
Total (4)
100.0%
128,971
0.78 128,971
0.78 128,971
0.78 -21
0.0%
0.01 0.0
100.0%
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Portfolio Considerations
Par
Book
Market
Gain/
Yield
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
@ Book
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Yield at Book < 2%
27 0.84
0.2 yrs
240,181
100.00
97.53 -5,942
0.84 0.7
0.68 Treasury
3 1.00
1.0 yrs
20,000
100.00
96.44 -713
1.00 1.0
0.93 Agency Bullet
1 0.50
1.9 yrs
3,000
100.00
93.24 -203
0.50 1.9
1.80 Callable Agency
19 0.90
1.7 yrs
88,210
100.00
94.30 -5,027
0.90 1.7
1.62 Cash & Other
4 0.78
-0.9 yrs
128,971
100.00
100.00
0 0.78
0.0 0.01
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
90.17 -492
0.900
3.16 -8.58
-387
-878
2.98 AFS
3133EPLE3
Callable Agency
FFCB 4.67 05/30/28
4.67 05/30/28
2,815
100.00
98.76 -35
4.669
4.42 -8.58
-239
-273
2.15 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
93.32 -334
2.000
3.15 -8.33
-389
-723
2.77 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
96.08 -196
3.174
3.30 -8.09
-389
-585
2.38 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
91.79 -411
1.290
2.98 -8.05
-369
-780
2.77 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
90.85 -458
0.800
2.83 -7.73
-351
-809
2.69 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
92.76 -290
1.050
2.33 -6.41
-238
-527
2.22 AFS
9128286L9
Treasury
T 2 1/4 03/31/26
2.25 03/31/26
3,200
100.00
95.94 -130
2.246
2.25 -6.16
-189
-319
2.14 AFS
9128286F2
Treasury
T 2 1/2 02/28/26
2.50 02/28/26
3,000
100.00
96.52 -105
2.499
2.17 -5.92
-171
-276
2.05 AFS
194162AQ6
Industrial
CL 4.8 03/02/26
4.80 03/02/26
1,000
100.00
101.21
12 4.797
2.17 -5.84
-59
-47
2.00 AFS
1.99 39,015
100.00
93.75 -2,437
1.990
2.94 -7.60
-2,781
-5,217
2.50 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.50 -650
0.570
1.73 -4.84
-453
-1,103
1.67 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.13 -487
1.170
1.48 -4.13
-393
-880
1.42 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
93.32 -334
2.000
3.15 -8.33
-389
-723
2.77 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
96.08 -196
3.174
3.30 -8.09
-389
-585
2.38 AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
90.17 -492
0.900
3.16 -8.58
-387
-878
2.98 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
91.79 -411
1.290
2.98 -8.05
-369
-780
2.77 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
90.85 -458
0.800
2.83 -7.73
-351
-809
2.69 AFS
3133EPKC8
Callable Agency
FFCB 5.39 05/18/27
5.39 05/18/27
5,000
100.00
99.40 -30
5.388
3.38 -5.65
-281
-311
0.89 AFS
9128285T3
Treasury
T 2 5/8 12/31/25
2.63 12/31/25
5,000
100.00
96.92 -154
2.625
2.00 -5.49
-266
-420
1.91 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
96.44 -356
0.998
0.96 -2.70
-261
-617
0.93 AFS
1.67 65,000
100.00
94.51 -3,567
1.666
2.24 -5.76
-3,538
-7,105
1.86 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.50 -650
0.570
1.73 -4.84
-453
-1,103
1.67 AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.13 -487
1.170
1.48 -4.13
-393
-880
1.42 AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
90.17 -492
0.900
3.16 -8.58
-387
-878
2.98 AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
90.85 -458
0.800
2.83 -7.73
-351
-809
2.69 AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
91.79 -411
1.290
2.98 -8.05
-369
-780
2.77 AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
93.32 -334
2.000
3.15 -8.33
-389
-723
2.77 AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
96.44 -356
0.998
0.96 -2.70
-261
-617
0.93 AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
96.08 -196
3.174
3.30 -8.09
-389
-585
2.38 AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
92.76 -290
1.050
2.33 -6.41
-238
-527
2.22 AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
96.17 -268
1.050
1.04 -2.93
-197
-465
1.00 AFS
1.21 66,000
100.00
94.03 -3,941
1.208
2.05 -5.52
-3,427
-7,367
1.87 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Yield
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
+300
Dur
WAL
+300
WAL
INT
3134GWUG9
Callable Agency
FHLMC 0.57 09/24/25
0.57 09/24/25
10,000
100.00
93.50 -650
0.570
-4.84
1.67 1.73
1.73 0.00
AFS
3133ENHW3
Callable Agency
FFCB 1.17 06/23/25
1.17 06/23/25
10,000
100.00
95.13 -487
1.170
-4.13
1.42 1.48
1.48 0.00
AFS
3130AL5A8
Callable Agency
FHLB 0.9 02/26/27
0.90 02/26/27
5,000
100.00
90.17 -492
0.900
-8.58
2.98 3.16
3.16 0.00
AFS
3134GW4C7
Callable Agency
FHLMC 0.8 10/27/26
0.80 10/27/26
5,000
100.00
90.85 -458
0.800
-7.73
2.69 2.83
2.83 0.00
AFS
3133ENJC5
Callable Agency
FFCB 1.29 12/22/26
1.29 12/22/26
5,000
100.00
91.79 -411
1.290
-8.05
2.77 2.98
2.98 0.00
AFS
3130AQRH8
Callable Agency
FHLB 2 02/25/27
2.00 02/25/27
5,000
100.00
93.32 -334
2.000
-8.33
2.77 3.15
3.15 0.00
AFS
91282CDN8
Treasury
T 1 12/15/24
1.00 12/15/24
10,000
100.00
96.44 -356
0.998
-2.70
0.93 0.96
0.96 0.00
AFS
3130ARHJ3
Callable Agency
FHLB 3.175 04/19/27
3.18 04/19/27
5,000
100.00
96.08 -196
3.174
-8.09
2.38 3.30
3.30 0.00
AFS
3130AN5C0
Callable Agency
FHLB 1.05 04/29/26
1.05 04/29/26
4,000
100.00
92.76 -290
1.050
-6.41
2.22 2.33
2.33 0.00
AFS
3130AQEA7
Callable Agency
FHLB 1.05 01/14/25
1.05 01/14/25
7,000
100.00
96.17 -268
1.050
-2.93
1.00 1.04
1.04 0.00
AFS
1.21 66,000
100.00
94.03 -3,941
1.208
-5.52
1.87 2.05
2.05 0.00
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
9128286R6
Fixed
04/24
100.00
99.00 -1.0%
0.3 0.33
T 2 1/4 04/30/24
T
5,000
2.250
04/30/24
5,000
2.23 4,950
5.29 -50
-1.0
0.00 AFS
91282CDN8
Fixed
12/24
100.00
96.44 -3.6%
0.9 0.93
T 1 12/15/24
T
10,000
1.000
12/15/24
10,000
1.00 9,644
4.85 -356
-2.7
0.02 AFS
91282CDN8
Fixed
12/24
100.00
96.44 -3.6%
0.9 0.93
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,822
4.85 -178
-2.7
0.02 AFS
91282CDN8
Fixed
12/24
100.00
96.44 -3.6%
0.9 0.93
T 1 12/15/24
T
5,000
1.000
12/15/24
5,000
1.00 4,822
4.85 -178
-2.7
0.02 AFS
9128283P3
Fixed
12/24
100.00
97.53 -2.5%
1.0 0.96
T 2 1/4 12/31/24
T
3,000
2.250
12/31/24
3,000
2.25 2,926
4.81 -74
-2.8
0.02 AFS
9128286F2
Fixed
02/26
100.00
96.52 -3.5%
2.1 2.05
T 2 1/2 02/28/26
T
3,000
2.500
02/28/26
3,000
2.50 2,895
4.20 -105
-5.9
0.06 AFS
9128286L9
Fixed
03/26
100.00
95.94 -4.1%
2.2 2.14
T 2 1/4 03/31/26
T
3,200
2.250
03/31/26
3,200
2.25 3,070
4.16 -130
-6.2
0.07 AFS
9128285T3
Fixed
12/25
100.00
96.92 -3.1%
1.9 1.91
T 2 5/8 12/31/25
T
5,000
2.625
12/31/25
5,000
2.62 4,846
4.25 -154
-5.5
0.06 AFS
9128285T3
Fixed
12/25
100.00
96.92 -3.1%
1.9 1.91
T 2 5/8 12/31/25
T
3,000
2.625
12/31/25
3,000
2.62 2,908
4.25 -92
-5.5
0.06 AFS
Treasury
100.00
96.88 -3.1%
1.2 1.21
42,200
1.746
42,200
1.74 40,883
4.69 -1,317
-3.5
0.03 3133EJYM5
Fixed
09/25
100.00
97.76 -2.2%
1.6 1.59
FFCB 3.02 09/04/25
FFCB
1,000
3.020
09/04/25
1,000
3.02 978
4.42 -22
-4.6
0.04 AFS
3133EJYM5
Fixed
09/25
100.00
97.76 -2.2%
1.6 1.59
FFCB 3.02 09/04/25
FFCB
2,000
3.020
09/04/25
2,000
3.02 1,955
4.42 -45
-4.6
0.04 AFS
3135G06G3
Fixed
11/25
100.00
93.24 -6.8%
1.8 1.80
FNMA 0 1/2 11/07/25
FNMA
3,000
0.500
11/07/25
3,000
0.50 2,797
4.34 -203
-5.2
0.05 AFS
Agency Bullet
100.00
95.50 -4.5%
1.7 1.69
6,000
1.760
6,000
1.76 5,730
4.38 -270
-4.9
0.05 3130AMRQ7
Fixed
03/30/24
12/25
100.00
93.31 -501
-6.7%
1.9 1.92
FHLB 0 7/8 12/30/25
FHLB
3,000
0.875
Quarterly
12/30/25
3,000
0.87 2,799
4.41 -201
-5.5
0.02 AFS
3133EPLE3
Fixed
05/30/25
05/28
100.00
98.76 -63
-1.2%
1.9 2.15
FFCB 4.67 05/30/28
FFCB
2,815
4.670
Anytime
05/30/28
2,815
4.67 2,780
4.98 -35
-8.6
-0.61
AFS
3130AN5C0
Fixed
01/29/24
04/26
100.00
92.76 -485
-7.2%
2.2 2.22
FHLB 1.05 04/29/26
FHLB
4,000
1.050
Quarterly
04/29/26
4,000
1.05 3,710
4.35 -290
-6.4
0.03 AFS
3130ARHJ3
Fixed
01/19/24
04/27
100.00
96.08 -312
-3.9%
2.1 2.38
FHLB 3.175 04/19/27
FHLB
5,000
3.175
Monthly
04/19/27
5,000
3.17 4,804
4.46 -196
-8.1
-0.42
AFS
3134GW4C7
Fixed
01/27/24
10/26
100.00
90.85 -519
-9.2%
2.7 2.69
FHLMC 0.8 10/27/26
FHLMC
5,000
0.800
Quarterly
10/27/26
5,000
0.80 4,542
4.27 -458
-7.7
0.06 AFS
3130AQRH8
Fixed
02/25/24
02/27
100.00
93.32 -421
-6.7%
2.7 2.77
FHLB 2 02/25/27
FHLB
5,000
2.000
Quarterly
02/25/27
5,000
2.00 4,666
4.29 -334
-8.3
-0.07
AFS
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Agency - CUSIP Detail
Maturity
Book
Market
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Cpn Type
Next Call Dt
Step Date
Proj.
Price
Price
bp
→
call
%
-100
Dur
ESG/Gr
Security Description
Ticker
Par
Coupon
Call Type
Step Cpn
Final
Value
Yield
Value
Yield
$
+300
Cvx
Intent
3133ENJC5
Fixed
01/16/24
12/26
100.00
91.79 -488
-8.2%
2.8 2.77
FFCB 1.29 12/22/26
FFCB
5,000
1.290
Anytime
12/22/26
5,000
1.29 4,589
4.26 -411
-8.0
0.00 AFS
3130AL5A8
Fixed
02/26/24
02/27
100.00
90.17 -534
-9.8%
3.0 2.98
FHLB 0.9 02/26/27
FHLB
5,000
0.900
Quarterly
02/26/27
5,000
0.90 4,508
4.26 -492
-8.6
0.07 AFS
3134GXBM5
Fixed
02/12/24
11/25
100.00
93.12 -550
-6.9%
1.8 1.80
FHLMC 0.6 11/12/25
FHLMC
1,150
0.600
Quarterly
11/12/25
1,150
0.60 1,071
4.48 -79
-5.2
0.04 AFS
3134GWUG9
Fixed
03/24/24
09/25
100.00
93.50 -532
-6.5%
1.7 1.67
FHLMC 0.57 09/24/25
FHLMC
10,000
0.570
Quarterly
09/24/25
10,000
0.57 9,350
4.51 -650
-4.8
0.04 AFS
3130AQEA7
Fixed
04/14/24
01/25
100.00
96.17 -462
-3.8%
1.0 1.00
FHLB 1.05 01/14/25
FHLB
7,000
1.050
Quarterly
01/14/25
7,000
1.05 6,732
4.88 -268
-2.9
0.02 AFS
3133EMUP5
Fixed
01/16/24
04/25
100.00
95.17 -543
-4.8%
1.2 1.21
FFCB 0.71 04/01/25
FFCB
5,000
0.710
Anytime
04/01/25
5,000
0.71 4,758
4.73 -242
-3.5
0.02 AFS
3133ELK37
Fixed
01/16/24
06/25
100.00
94.64 -520
-5.4%
1.4 1.41
FFCB 0.78 06/16/25
FFCB
5,000
0.780
Anytime
06/16/25
5,000
0.78 4,732
4.62 -268
-4.1
0.03 AFS
3133ENHW3
Fixed
01/16/24
06/25
100.00
95.13 -475
-4.9%
1.4 1.42
FFCB 1.17 06/23/25
FFCB
10,000
1.170
Anytime
06/23/25
10,000
1.17 9,513
4.61 -487
-4.1
0.02 AFS
3136G4ZP1
Fixed
01/30/24
07/25
100.00
94.13 -541
-5.9%
1.5 1.52
FNMA 0.65 07/30/25
FNMA
3,500
0.650
Quarterly
07/30/25
3,500
0.65 3,294
4.53 -206
-4.4
0.04 AFS
3133EL3P7
Fixed
01/16/24
08/25
100.00
93.82 -556
-6.2%
1.6 1.56
FFCB 0.53 08/12/25
FFCB
1,810
0.530
Anytime
08/12/25
1,810
0.53 1,698
4.53 -112
-4.5
0.03 AFS
3130AQDY6
Fixed
01/16/24
12/24
100.00
96.29 -477
-3.7%
1.0 0.96
FHLB 1 12/30/24
FHLB
6,750
1.000
Anytime
12/30/24
6,750
1.00 6,499
4.85 -251
-2.8
0.02 AFS
3133EL2X1
Fixed
01/16/24
05/24
100.00
98.34 -528
-1.7%
0.3 0.35
FFCB 0.42 05/06/24
FFCB
2,000
0.420
Anytime
05/06/24
2,000
0.42 1,967
5.27 -33
-1.0
0.00 AFS
3130AMQR6
Fixed
03/07/24
06/24
100.00
97.91 -520
-2.1%
0.4 0.43
FHLB 0.35 06/07/24
FHLB
3,000
0.350
Quarterly
06/07/24
3,000
0.35 2,937
5.25 -63
-1.3
0.00 AFS
3130AXAP3
Fixed
03/21/24
09/26
100.00
99.91 -22
-0.1%
0.3 0.45
FHLB 5 3/4 09/21/26
FHLB
4,750
5.750
Anytime
09/21/26
4,750
5.75 4,746
5.78 -4
-3.7
-0.38
AFS
3130AMHH8
Fixed
03/01/24
08/24
100.00
97.30 -525
-2.7%
0.6 0.58
FHLB 0.41 08/01/24
FHLB
4,000
0.410
Quarterly
08/01/24
4,000
0.41 3,892
5.15 -108
-1.7
0.01 AFS
3134GWNG7
Fixed
02/27/24
11/24
100.00
96.15 -522
-3.8%
0.9 0.88
FHLMC 0 1/2 11/27/24
FHLMC
2,000
0.500
Quarterly
11/27/24
2,000
0.50 1,923
4.88 -77
-2.6
0.02 AFS
3133EPKC8
Fixed
01/16/24
05/27
100.00
99.40 -110
-0.6%
0.6 0.89
FFCB 5.39 05/18/27
FFCB
5,000
5.390
Anytime
05/18/27
5,000
5.39 4,970
5.59 -30
-5.6
-0.84
AFS
Callable Agency
100.00
95.00 -5.0%
1.5 1.58
105,775
1.536
105,775
1.54 100,483
4.72 -5,292
-5.0
-0.08
Total
100.00
95.53 -4.5%
1.5 1.48
153,975
1.602
153,975
1.60 147,096
4.70 -6,879
-4.6
-0.04
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Corporate - CUSIP Detail
Gain/(Loss)
% Px
Δ
Eff.
CUSIP
Sector
Par
Index
Moody's
Bk Price
Yield
Mkt Price
Mkt
%
-100
Dur
ESG/Gr
Security Description
Subsector
Value
Cpn
Maturity
Margin
S&P
Bk Value
@Bk
Mkt Value
Yield
$
+300
Cvx
Intent
742718FY0
Industrial
AA-
100.00
99.39 -0.6%
2.0 1.92
PG 4.1 01/26/26
Consumer
Goods
1,000
4.100
01/26/26
Aa3
1,000
4.10 994
4.41 -6
-5.6
0.06 AFS
30231GAT9
Industrial
AA-
100.00
97.08 -2.9%
2.0 1.96
XOM 3.043 03/01/26
Energy Company
1,000
3.043
03/01/26
Aa2
1,000
3.04 971
4.47 -29
-5.8
0.03 AFS
194162AQ6
Industrial
AA-
100.00
101.21
1.2%
2.1 2.00
CL 4.8 03/02/26
Consumer
Goods
1,000
4.800
03/02/26
Aa3
1,000
4.80 1,012
4.21 12
-5.8
0.06 AFS
Industrial
AA-
100.00
99.23 -0.8%
2.0 1.96
3,000
3.981
Aa2
3,000
3.98 2,977
4.36 -23
-5.8
0.05 Total
AA-
100.00
99.23 -0.8%
2.0 1.96
3,000
3.981
Aa2
3,000
3.98 2,977
4.36 -23
-5.8
0.05 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Other - CUSIP Detail
Coupon
Step
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.Mat.
Bk Price
Yield
Mkt Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final Mat.
Bk Value
@ Bk
Mkt Value
Mkt Yield
$
+300
Cvx
Intent
Fixed
01/24
100.00
100.00
0.0%
0.0 0.01
PLMDLCAMP
267
0.300
01/31/23
267
0.30 267
0.30 0
0.0 0.00
AFS
Fixed
01/24
100.00
100.00
0.0%
0.0 0.01
PLMDLLAIF
23,230
0.780
01/31/23
23,230
0.78 23,230
0.78 0
0.0 0.00
AFS
Fixed
01/24
100.00
100.00
0.0%
0.0 0.01
PLMDLLAIF
53,704
0.780
01/31/23
53,704
0.78 53,704
0.78 0
0.0 0.00
AFS
Fixed
01/24
100.00
100.00
0.0%
0.0 0.01
PLMDLLAIF
51,771
0.780
01/31/23
51,771
0.78 51,771
0.78 0
0.0 0.00
AFS
100.00
100.00
0.0%
0.0 0.01
Cash & Other
128,971
0.779
128,971
0.78 128,971
0.78 0
0.0 0.00
100.00
100.00
0.0%
0.0 0.01
Total
128,971
0.779
128,971
0.78 128,971
0.78 0
0.0 0.00
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
WAL
Dur
WAL
WAL
WAL
WAL
2,000
21 1.05%
14 0.70%
7 0.35%
0 0.00%
-7
-0.35%
-14
-0.69%
-20
-1.03%
3133EL2X1
0.42 99.37
2.23 99.03
3.24 98.68
4.25 98.34
5.27 98.00
6.28 97.66
7.30 97.33
8.32 FFCB 0.42 05/06/24
05/06/2024
0.35 0.35
0.35 0.35
0.35 0.35
0.35 0.35
1,810
78 4.62%
54 3.15%
27 1.58%
0 0.00%
-26
-1.54%
-52
-3.05%
-77
-4.52%
3133EL3P7
0.53 98.16
1.69 96.78
2.57 95.30
3.54 93.82
4.53 92.37
5.52 90.96
6.51 89.58
7.49 FFCB 0.53 08/12/25
08/12/2025
1.62 1.62
1.62 1.56
1.62 1.62
1.62 1.62
5,000
171
3.59%
116
2.44%
58 1.22%
0 0.00%
-57
-1.20%
-113
-2.37%
-167
-3.52%
3133EMUP5
0.71 98.58
1.86 97.49
2.76 96.33
3.74 95.17
4.73 94.03
5.72 92.91
6.70 91.82
7.68 FFCB 0.71 04/01/25
04/01/2025
1.25 1.25
1.25 1.21
1.25 1.25
1.25 1.25
5,000
195
4.13%
134
2.83%
67 1.42%
0 0.00%
-66
-1.39%
-130
-2.76%
-193
-4.09%
3133ELK37
0.78 98.54
1.80 97.32
2.66 95.98
3.63 94.64
4.62 93.32
5.61 92.03
6.59 90.77
7.57 FFCB 0.78 06/16/25
06/16/2025
1.46 1.46
1.46 1.41
1.46 1.46
1.46 1.46
10,000
381
4.01%
267
2.81%
136
1.43%
0 0.00%
-134
-1.41%
-265
-2.79%
-393
-4.13%
3133ENHW3
1.17 98.94
1.90 97.80
2.69 96.49
3.63 95.13
4.61 93.79
5.60 92.48
6.58 91.20
7.56 FFCB 1.17 06/23/25
06/23/2025
1.48 1.48
1.48 1.42
1.48 1.48
1.48 1.48
5,000
335
7.30%
243
5.29%
126
2.75%
0 0.00%
-127
-2.76%
-250
-5.45%
-369
-8.05%
3133ENJC5
1.29 98.49
1.81 96.65
2.47 94.31
3.31 91.79
4.26 89.26
5.23 86.79
6.22 84.40
7.20 FFCB 1.29 12/22/26
12/22/2026
2.98 2.98
2.98 2.77
2.98 2.98
2.98 2.98
1,000
49 5.01%
32 3.29%
16 1.63%
0 0.00%
-15
-1.58%
-31
-3.13%
-45
-4.63%
3133EJYM5
3.02 102.66
1.41 100.98
2.42 99.35
3.42 97.76
4.42 96.22
5.41 94.71
6.39 93.23
7.38 FFCB 3.02 09/04/25
09/04/2025
1.68 1.68
1.68 1.59
1.68 1.68
1.68 1.68
2,000
98 5.01%
64 3.29%
32 1.63%
0 0.00%
-31
-1.58%
-61
-3.13%
-91
-4.63%
3133EJYM5
3.02 102.66
1.41 100.98
2.42 99.35
3.42 97.76
4.42 96.22
5.41 94.71
6.39 93.23
7.38 FFCB 3.02 09/04/25
09/04/2025
1.68 1.68
1.68 1.59
1.68 1.68
1.68 1.68
2,815
137
4.94%
96 3.47%
53 1.90%
0 0.00%
-68
-2.43%
-149
-5.37%
-239
-8.58%
3133EPLE3
4.67 103.64
2.19 102.19
3.16 100.64
4.51 98.76
4.98 96.36
5.61 93.46
6.39 90.29
7.28 FFCB 4.67 05/30/28
05/30/2028
1.50 1.50
4.42 2.15
4.42 4.42
4.42 4.42
5,000
36 0.73%
34 0.68%
29 0.59%
0 0.00%
-63
-1.28%
-161
-3.24%
-281
-5.65%
3133EPKC8
5.39 100.12
-0.72
100.07
1.85 99.98
5.39 99.40
5.59 98.13
6.01 96.17
6.67 93.79
7.50 FFCB 5.39 05/18/27
05/18/2027
0.02 0.02
3.30 0.89
3.38 3.38
3.38 3.38
3,000
152
5.44%
106
3.80%
54 1.93%
0 0.00%
-53
-1.90%
-105
-3.75%
-155
-5.55%
3130AMRQ7
0.88 98.38
1.70 96.86
2.50 95.11
3.43 93.31
4.41 91.54
5.40 89.81
6.38 88.13
7.37 FHLB 0 7/8 12/30/25
12/30/2025
2.00 2.00
2.00 1.92
2.00 2.00
2.00 2.00
3,000
39 1.31%
26 0.87%
13 0.43%
0 0.00%
-13
-0.43%
-25
-0.86%
-38
-1.28%
3130AMQR6
0.35 99.20
2.20 98.77
3.22 98.34
4.23 97.91
5.25 97.49
6.26 97.08
7.28 96.66
8.30 FHLB 0.35 06/07/24
06/07/2024
0.44 0.44
0.44 0.43
0.44 0.44
0.44 0.44
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
WAL
Dur
WAL
WAL
WAL
WAL
4,000
68 1.76%
45 1.17%
23 0.58%
0 0.00%
-22
-0.57%
-44
-1.14%
-66
-1.70%
3130AMHH8
0.41 99.01
2.12 98.43
3.13 97.86
4.14 97.30
5.15 96.74
6.16 96.19
7.17 95.64
8.17 FHLB 0.41 08/01/24
08/01/2024
0.59 0.59
0.59 0.58
0.59 0.59
0.59 0.59
5,000
377
8.37%
266
5.90%
135
3.00%
0 0.00%
-133
-2.96%
-263
-5.82%
-387
-8.58%
3130AL5A8
0.90 97.72
1.65 95.48
2.39 92.88
3.30 90.17
4.26 87.50
5.25 84.92
6.24 82.43
7.23 FHLB 0.9 02/26/27
02/26/2027
3.16 3.16
3.16 2.98
3.16 3.16
3.16 3.16
6,750
186
2.86%
127
1.95%
63 0.97%
0 0.00%
-62
-0.96%
-123
-1.89%
-183
-2.81%
3130AQDY6
1.00 99.04
1.98 98.16
2.88 97.22
3.86 96.29
4.85 95.37
5.84 94.46
6.82 93.58
7.80 FHLB 1 12/30/24
12/30/2024
1.00 1.00
1.00 0.96
1.00 1.00
1.00 1.00
7,000
201
2.98%
137
2.03%
68 1.01%
0 0.00%
-67
-0.99%
-133
-1.97%
-197
-2.93%
3130AQEA7
1.05 99.04
1.99 98.12
2.90 97.14
3.88 96.17
4.88 95.21
5.87 94.28
6.85 93.36
7.83 FHLB 1.05 01/14/25
01/14/2025
1.04 1.04
1.04 1.00
1.04 1.04
1.04 1.04
4,000
227
6.13%
161
4.34%
82 2.22%
0 0.00%
-82
-2.20%
-161
-4.34%
-238
-6.41%
3130AN5C0
1.05 98.45
1.73 96.79
2.48 94.82
3.38 92.76
4.35 90.72
5.34 88.74
6.32 86.81
7.30 FHLB 1.05 04/29/26
04/29/2026
2.33 2.33
2.33 2.22
2.33 2.33
2.33 2.33
5,000
301
6.45%
231
4.95%
125
2.69%
0 0.00%
-132
-2.82%
-262
-5.62%
-389
-8.33%
3130AQRH8
2.00 99.35
2.21 97.94
2.69 95.83
3.40 93.32
4.29 90.69
5.24 88.08
6.22 85.55
7.20 FHLB 2 02/25/27
02/25/2027
3.15 3.15
3.15 2.77
3.15 3.15
3.15 3.15
5,000
196
4.08%
167
3.47%
101
2.11%
0 0.00%
-124
-2.58%
-256
-5.33%
-389
-8.09%
3130ARHJ3
3.18 100.00
3.18 99.41
3.36 98.11
3.79 96.08
4.46 93.60
5.31 90.95
6.25 88.30
7.22 FHLB 3.175 04/19/27
04/19/2027
3.05 3.30
3.30 2.38
3.30 3.30
3.30 3.30
4,750
37 0.79%
27 0.56%
15 0.33%
0 0.00%
-32
-0.68%
-92
-1.94%
-176
-3.70%
3130AXAP3
5.75 100.70
2.61 100.47
3.61 100.23
4.65 99.91
5.78 99.23
6.06 97.98
6.57 96.21
7.30 FHLB 5 3/4 09/21/26
09/21/2026
0.23 0.23
0.23 0.45
2.73 2.73
2.73 2.73
2,000
52 2.69%
34 1.79%
17 0.89%
0 0.00%
-17
-0.87%
-33
-1.73%
-50
-2.58%
3134GWNG7
0.50 98.74
1.91 97.88
2.88 97.01
3.88 96.15
4.88 95.31
5.87 94.49
6.86 93.68
7.85 FHLMC 0 1/2 11/27/24
11/27/2024
0.91 0.91
0.91 0.88
0.91 0.91
0.91 0.91
10,000
463
4.95%
316
3.38%
158
1.69%
0 0.00%
-155
-1.66%
-306
-3.27%
-453
-4.84%
3134GWUG9
0.57 98.13
1.67 96.66
2.55 95.08
3.52 93.50
4.51 91.95
5.50 90.44
6.49 88.97
7.47 FHLMC 0.57 09/24/25
09/24/2025
1.73 1.73
1.73 1.67
1.73 1.73
1.73 1.73
1,150
57 5.29%
39 3.63%
20 1.82%
0 0.00%
-19
-1.78%
-38
-3.52%
-56
-5.21%
3134GXBM5
0.60 98.05
1.67 96.50
2.53 94.82
3.49 93.12
4.48 91.46
5.47 89.84
6.46 88.27
7.45 FHLMC 0.6 11/12/25
11/12/2025
1.87 1.87
1.87 1.80
1.87 1.87
1.87 1.87
5,000
346
7.62%
242
5.33%
123
2.71%
0 0.00%
-121
-2.66%
-238
-5.24%
-351
-7.73%
3134GW4C7
0.80 97.77
1.61 95.69
2.39 93.31
3.30 90.85
4.27 88.43
5.26 86.08
6.25 83.82
7.23 FHLMC 0.8 10/27/26
10/27/2026
2.83 2.83
2.83 2.69
2.83 2.83
2.83 2.83
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
WAL
Dur
WAL
WAL
WAL
WAL
3,000
157
5.63%
103
3.70%
51 1.82%
0 0.00%
-50
-1.77%
-98
-3.50%
-145
-5.18%
3135G06G3
0.50 98.48
1.33 96.68
2.34 94.94
3.34 93.24
4.34 91.58
5.33 89.97
6.32 88.41
7.30 FNMA 0 1/2 11/07/25
11/07/2025
1.85 1.85
1.85 1.80
1.85 1.85
1.85 1.85
3,500
148
4.49%
101
3.08%
51 1.54%
0 0.00%
-50
-1.51%
-98
-2.98%
-146
-4.42%
3136G4ZP1
0.65 98.35
1.71 97.02
2.58 95.58
3.55 94.13
4.53 92.71
5.52 91.32
6.51 89.97
7.49 FNMA 0.65 07/30/25
07/30/2025
1.58 1.58
1.58 1.52
1.58 1.58
1.58 1.58
10,000
276
2.86%
182
1.89%
90 0.94%
0 0.00%
-89
-0.92%
-175
-1.82%
-261
-2.70%
91282CDN8
1.00 99.20
1.85 98.26
2.85 97.34
3.85 96.44
4.85 95.55
5.84 94.68
6.82 93.83
7.80 T 1 12/15/24
12/15/2024
0.96 0.96
0.96 0.93
0.96 0.96
0.96 0.96
5,000
138
2.86%
91 1.89%
45 0.94%
0 0.00%
-44
-0.92%
-88
-1.82%
-130
-2.70%
91282CDN8
1.00 99.20
1.85 98.26
2.85 97.34
3.85 96.44
4.85 95.55
5.84 94.68
6.82 93.83
7.80 T 1 12/15/24
12/15/2024
0.96 0.96
0.96 0.93
0.96 0.96
0.96 0.96
5,000
138
2.86%
91 1.89%
45 0.94%
0 0.00%
-44
-0.92%
-88
-1.82%
-130
-2.70%
91282CDN8
1.00 99.20
1.85 98.26
2.85 97.34
3.85 96.44
4.85 95.55
5.84 94.68
6.82 93.83
7.80 T 1 12/15/24
12/15/2024
0.96 0.96
0.96 0.93
0.96 0.96
0.96 0.96
3,000
188
6.49%
123
4.26%
61 2.10%
0 0.00%
-59
-2.03%
-116
-4.01%
-171
-5.92%
9128286F2
2.50 102.78
1.19 100.63
2.20 98.54
3.20 96.52
4.20 94.55
5.19 92.65
6.18 90.80
7.16 T 2 1/2 02/28/26
02/28/2026
2.17 2.17
2.17 2.05
2.17 2.17
2.17 2.17
3,200
208
6.76%
136
4.44%
67 2.18%
0 0.00%
-65
-2.12%
-128
-4.17%
-189
-6.16%
9128286L9
2.25 102.43
1.15 100.19
2.16 98.03
3.16 95.94
4.16 93.91
5.15 91.94
6.13 90.03
7.12 T 2 1/4 03/31/26
03/31/2026
2.25 2.25
2.25 2.14
2.25 2.25
2.25 2.25
5,000
50 1.00%
33 0.67%
16 0.33%
0 0.00%
-16
-0.33%
-33
-0.66%
-49
-0.98%
9128286R6
2.25 99.99
2.24 99.66
3.26 99.33
4.27 99.00
5.29 98.67
6.31 98.35
7.32 98.03
8.35 T 2 1/4 04/30/24
04/30/2024
0.33 0.33
0.33 0.33
0.33 0.33
0.33 0.33
3,000
87 2.98%
58 1.97%
28 0.97%
0 0.00%
-28
-0.95%
-55
-1.89%
-82
-2.81%
9128283P3
2.25 100.44
1.81 99.45
2.81 98.48
3.81 97.53
4.81 96.60
5.80 95.69
6.78 94.79
7.77 T 2 1/4 12/31/24
12/31/2024
1.00 1.00
1.00 0.96
1.00 1.00
1.00 1.00
3,000
174
5.99%
114
3.94%
56 1.94%
0 0.00%
-55
-1.88%
-108
-3.71%
-160
-5.49%
9128285T3
2.63 102.73
1.24 100.74
2.25 98.80
3.25 96.92
4.25 95.10
5.24 93.32
6.23 91.60
7.21 T 2 5/8 12/31/25
12/31/2025
2.00 2.00
2.00 1.91
2.00 2.00
2.00 2.00
5,000
290
5.99%
191
3.94%
94 1.94%
0 0.00%
-91
-1.88%
-180
-3.71%
-266
-5.49%
9128285T3
2.63 102.73
1.24 100.74
2.25 98.80
3.25 96.92
4.25 95.10
5.24 93.32
6.23 91.60
7.21 T 2 5/8 12/31/25
12/31/2025
2.00 2.00
2.00 1.91
2.00 2.00
2.00 2.00
Treasury/Agency
153,975
6,057
4.12%
4,202
2.86%
2,154
1.46%
0 0.00%
-2,216
-1.51%
-4,472
-3.04%
-6,731
-4.58%
1.60 99.47
1.78 98.26
2.71 96.93
3.75 95.53
4.70 94.09
5.64 92.63
6.60 91.16
7.57 1.54
1.55 1.71
1.48 1.79
1.79 1.79
1.79 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
WAL
Dur
WAL
WAL
WAL
WAL
1,000
65 6.39%
42 4.20%
21 2.07%
0 0.00%
-20
-2.00%
-40
-3.95%
-59
-5.83%
194162AQ6
4.80 107.68
1.21 105.46
2.21 103.30
3.21 101.21
4.21 99.18
5.20 97.22
6.19 95.31
7.17 CL 4.8 03/02/26
03/02/2026
2.17 2.17
2.17 2.00
2.17 2.17
2.17 2.17
1,000
61 6.14%
40 4.03%
20 1.99%
0 0.00%
-19
-1.93%
-38
-3.80%
-56
-5.62%
742718FY0
4.10 105.49
1.40 103.40
2.41 101.36
3.41 99.39
4.41 97.47
5.40 95.61
6.39 93.80
7.38 PG 4.1 01/26/26
01/26/2026
2.07 2.07
2.07 1.92
2.07 2.07
2.07 2.07
1,000
58 5.94%
38 3.95%
19 1.97%
0 0.00%
-19
-1.97%
-38
-3.92%
-56
-5.82%
30231GAT9
3.04 102.84
1.53 100.91
2.61 98.99
3.53 97.08
4.47 95.16
5.43 93.28
6.41 91.43
7.39 XOM 3.043 03/01/26
03/01/2026
1.92 2.17
2.17 1.96
2.17 2.17
2.17 2.17
Corporate
3,000
183
6.16%
121
4.06%
60 2.01%
0 0.00%
-59
-1.97%
-116
-3.89%
-171
-5.76%
3.98 105.34
1.38 103.26
2.41 101.22
3.38 99.23
4.36 97.27
5.34 95.37
6.33 93.51
7.31 2.05
2.14 2.14
1.96 2.14
2.14 2.14
2.14 267
0 0.02%
0 0.01%
0 0.01%
0 0.00%
0 -0.01%
0 -0.01%
0 -0.02%
PLMDLCAMP
0.30 100.02
-2.68
100.01
-1.69
100.01
-0.70
100.00
0.30 99.99
1.30 99.99
2.31 99.98
3.32 CAMP
01/31/2023
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
53,704
9 0.02%
6 0.01%
3 0.01%
0 0.00%
-3
-0.01%
-6
-0.01%
-9
-0.02%
PLMDLLAIF
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 LAIF
01/31/2023
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
51,771
9 0.02%
6 0.01%
3 0.01%
0 0.00%
-3
-0.01%
-6
-0.01%
-9
-0.02%
PLMDLLAIF
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 LAIF
01/31/2023
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
23,230
4 0.02%
3 0.01%
1 0.01%
0 0.00%
-1
-0.01%
-3
-0.01%
-4
-0.02%
PLMDLLAIF
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 LAIF
01/31/2023
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
Other
128,971
21 0.02%
14 0.01%
7 0.01%
0 0.00%
-7
-0.01%
-14
-0.01%
-21
-0.02%
0.78 100.02
-2.21
100.01
-1.22
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 0.01
0.01 0.01
0.01 0.01
0.01 0.01
0.01 Total
285,946
6,262
2.24%
4,338
1.55%
2,221
0.80%
0 0.00%
-2,282
-0.82%
-4,602
-1.65%
-6,924
-2.48%
1.26 99.78
-0.03
99.10 0.92
98.36 1.93
97.59 2.88
96.79 3.84
95.98 4.81
95.16 5.79
1 0.85
0.86 0.94
0.81 0.99
0.99 0.99
0.99 City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Portfolio Changes
New Securities 9/2023-12/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
3130AXAP3
Treasury/Agency
FHLB 5 3/4 09/21/26
09/21/2026
5.75 4,750,000
100.00
AFS
Partial Buy9/2023-12/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLCAMP
Other
CAMP
01/31/2023
0.30 266,599
100.00
AFS
Same CUSIP buys
Securities Sold/Redeemed 9/2023-12/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
91282CBA8
Treasury/Agency
T 0 1/8 12/15/23
12/15/2023
0.13 15,000,000
100.00
AFS
Expired/Matured
PLMDLLAIF
Other
LAIF
01/31/2023
0.78 128,703,931
100.00
AFS
Partial Sale
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Shocked Assumptions
Scenarios
Down 300
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Shift Amount
-300
-200
-100
0 100
200
300
Curve Slope Change
0 0
0 0
0 0
0 Shock Horizon
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Curve Type
Static
Static
Static
Static
Static
Static
Static
Valuation Date
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Report Assumptions
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Yield at Book is the weighted average yield of the remaining securities at the noted time period.
Shocked Scenarios
- All shocked scenarios are instant and parallel and assume a sustained rate cycle from that point on. LIBOR OAS is held constant in order to generate shocked market scenarios and The Yieldbook was used to generate the projected cash flows. In shocked scenarios, 0.01% is considered the floor.
Bonds Likely to be Called
- The page identifies all callable agencies which will either be called or mature in the next 12 months in any of the shocked scenarios. The methodology used to determine the call assumes a small internal margin to account for the "cost to call." Municipals
- For taxable institutions, the above tax rate detailed - along with TEFRA adjustments for BQs - is used to calculate TEY unless otherwise input. Ratings are a blend of Moody's and Standard & Poors.
Duration
- Duration in the shocked detail section is generated by Yield Book.
Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.
Yields
-
All yields are Yield to Projected Scenario. (Assumes 100% of The Yield Book prepayment model).
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
The information contained herein has been prepared from sources believed reliable but is not guaranteed by Stifel and is not a complete summary or statement of all available data, nor is it to be construed as an offer to buy or sell any securities referred to herein. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation, or needs of investors. Employees of Stifel or its affiliates may, at times, release written or oral commentary, technical analysis, or trading strategies that differ from the opinions expressed within. No investments or services mentioned are available to "private customers" in the European Economic Area or to anyone in Canada other than a "Designated Institution." Stifel and/or its employees involved in the preparation or the issuance of this communication may have positions in the securities or options of the issuer/s discussed or recommended herein.
Securities identified herein are subject to availability and changes in price.
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2024
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE, One South Street, Baltimore, MD 21202
. All rights reserved.
Disclaimer
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
Portfolio Exceptions
Hld
Exception
Sub
Indic
Par
Book
Market
ID
Description
CUSIP
Sector
Sector
Table
Security Description
Value
Price
Price
1 6731937
Expired/Matured
912828V23
Treasury/Agency
Treasury
AGY
T 2 1/4 12/31/23
4,000
100.000
100.000
2 6779856
Expired/Matured
9128285U0
Treasury/Agency
Treasury
AGY
T 2 5/8 12/31/23
5,000
100.000
100.000
3 6779858
Expired/Matured
912828V23
Treasury/Agency
Treasury
AGY
T 2 1/4 12/31/23
5,000
100.000
100.000
Portfolio Exceptions Summary
Total Par
Total Par
Total Par
% Par
Holding Count
Holding Count
Holding Count
% Count
From Customer
Excluded
In Analysis
Excluded
From Customer
Excluded
In Analysis
Excluded
299,946
14,000
285,946
4.67 %
45 3
42 6.67 %
City of Palmdale - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6748 - 58411
PORTFOLIO REVIEW AND ANALYSIS
City of Palmdale - Successor Agency
Palmdale, CA
As of Date: 12/31/2023
Pricing as of: 12/29/2023
Date of Analysis: 01/08/2024
Account Executive: Bill Blackwill
Book Value
6,216
# Securities
1 Average Size (Book)
6,216
Yield at Book
0.78 Market Yield
0.78 $ Gain/Loss
0 % Gain/Loss
0.0%
Average Life
0.01 Average Life +300bps
0.01 % Price Change +100bps
-0.01
% Price Change +300bps
-0.02
Effective Duration
0.01 Effective Convexity
0.00 AFS / HTM%
100% / 0%
Fixed / Floating
100% / 0%
ESG/Green Par (000's)
$0 / $0
Portfolio Overview
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Historical Portfolio Overview
12/31/2023
09/30/2023
06/30/2023
03/31/2023
Book Value
6,216
7,025
12,989
4,459
Yield at Book
0.78 0.78
0.78 0.78
Yield at Book (+100)
0.78 0.78
0.78 0.78
Yield at Book (+300)
0.78 0.78
0.78 0.78
Yield at Book (-100)
0.78 0.78
0.78 0.78
WAL
0.01 0.08
0.08 0.08
WAL (+100)
0.01 0.08
0.08 0.08
WAL (+300)
0.01 0.08
0.08 0.08
WAL (-100)
0.01 0.08
0.08 0.08
% Price Change (+100)
0.0%
-0.1%
-0.1%
-0.1%
% Price Change (+300)
0.0%
-0.3%
-0.3%
-0.2%
% Price Change (-100)
0.0%
0.1%
0.1%
0.1%
Effective Duration
0.01 0.09
0.09 0.08
Effective Convexity
0.00 0.00
0.00 0.00
$ Gain/Loss
0 0
0 0
% Gain/Loss
0.0%
0.0%
0.0%
0.0%
$ Gain/Loss (+300)
-1
-18
-33
-11
Principal Cash Flow 2 yrs out
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+100)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (+300)
100%
100%
100%
100%
Principal Cash Flow 2 yrs out (-100)
100%
100%
100%
100%
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Portfolio Sector Summary
Portfolio
Par
Book
Yield
Market
% Price Change
Gain/(Loss)
Effective
AFS
Sector
%
Value
Cpn
Maturity
Value
@Bk
Value
Yield
-100
+100
+300
$
%
WAL
Dur
Cvx
%
Cash & Other (1)
100.0%
6,216
0.78 -0.9 yrs
6,216
0.78 6,216
0.78 0.0
0.0 0.0
0 0.0%
0.01 0.01
0.00 100 %
Other (1)
100.0%
6,216
0.78 -0.9 yrs
6,216
0.78 6,216
0.78 0.0
0.0 0.0
0 0.0%
0.01 0.01
0.00 100 %
Total (1)
100.0%
6,216
0.78 -0.9 yrs
6,216
0.78 6,216
0.78 0.0
0.0 0.0
0 0.0%
0.01 0.01
0.00 100 %
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Shocked Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
6,216
6,216
6,216
6,216
6,216
6,216
6,216
Book Value
6,216
6,216
6,216
6,216
6,216
6,216
6,216
Market Value
6,217
6,217
6,216
6,216
6,215
6,215
6,215
Gain/(Loss)
1 1
0 0
0 -1
-1
Gain/(Loss) %
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Gain/(Loss) % - Chg from Base
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Book Price
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Yield at Book
0.78 0.78
0.78 0.78
0.78 0.78
0.78 Market Price
100.02
100.01
100.01
100.00
99.99 99.99
99.98 Market Yield
-2.21
-1.21
-0.22
0.78 1.79
2.80 3.81
WAL
0.01 0.01
0.01 0.01
0.01 0.01
0.01 City of Palmdale - Successor Agency - Palmdale, CA As of 12/31/2023
Portfolio ID: 6753 - 58411
Price Risk & Market Value Change by Sector
AFS
HTM
% Change in Market Value from Level
Eff
% Change in Market Value from Level
Eff
Sector
-100
Mkt Value
+100
+200
+300
Dur
-100
Mkt Value
+100
+200
+300
Dur
Other
0.0%
6,216
0.0%
0.0%
0.0%
0.0%
Total
0.0%
6,216
0.0%
0.0%
0.0%
0.0%
Scenario Market Val
6,216
6,216
6,215
6,215
6,215
Scenario Gain/Loss
0 0
0 -1
-1
Total Portfolio (AFS + HTM):
% Change in Market Val from Level
-200 bps
0.0%
-100 bps
0.0%
Level Market Val
6,216
+100 bps
0.0%
+200 bps
0.0%
+300 bps
0.0%
+400 bps
0.0%
Effective Duration
0.01 Effective Convexity
0.00 City of Palmdale - Successor Agency - Palmdale, CA As of 12/31/2023
Portfolio ID: 6753 - 58411
Peer Group Comparison
As of
Book
G/L
Yield
Average Life
% Price Change
Effective
UST
Fix
Fix
Flt
Agy
Sm
Prv
CD &
%
%
Peer
Date
Value
%
@Bk
Base
-100
+300
-100
+100
+300
Dur
Cvx
Agy
MBS
ARM
CMO
CMO
CMBS
Bus.
Label
Muni
Corp
Oth
Fixed
AFS
1 12/23
7,320
-6.2
2.68 3.5
3.4 3.6
2.9 -2.7
-7.8
2.8 0.1
0%
15%
0%
14%
0%
0%
0%
0%
0%
0%
71%
100%
100%
2 12/23
4,999
-0.6
3.43 0.4
0.3 0.4
0.3 -0.4
-1.1
0.4 0.0
90%
0%
0%
0%
0%
0%
0%
0%
0%
0%
10%
100%
100%
3 12/23
8,000
-7.3
1.25 2.4
2.4 2.4
2.3 -2.2
-6.5
2.3 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
4 12/23
4,042
-7.4
0.89 2.2
2.2 2.2
2.2 -2.1
-6.1
2.1 0.0
94%
0%
0%
0%
0%
0%
0%
0%
0%
0%
6%
100%
100%
5 12/23
8,728
-6.9
1.86 2.8
2.7 2.8
2.6 -2.6
-7.5
2.6 0.1
31%
0%
0%
0%
0%
0%
0%
0%
0%
0%
69%
100%
100%
6 10/23
9,738
-16.4
4.27 7.2
7.2 7.3
4.7 -4.6
-12.9
4.6 0.1
7%
0%
0%
0%
0%
0%
0%
0%
75%
3%
15%
100%
100%
7 09/23
11,140
-5.8
2.88 2.7
2.3 2.9
2.1 -2.2
-6.7
2.1 -0.1
18%
0%
0%
0%
0%
0%
0%
0%
0%
0%
82%
100%
100%
8 09/23
11,162
-3.6
3.94 2.5
2.5 2.5
2.3 -2.2
-6.4
2.2 0.1
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
9 09/23
12,664
-5.6
2.09 2.1
2.1 2.1
2.0 -1.9
-5.5
1.9 0.1
0%
0%
0%
0%
0%
0%
0%
0%
24%
35%
40%
100%
100%
10 09/23
14,671
-6.0
2.19 2.4
2.3 2.4
1.9 -2.0
-5.9
1.9 -0.1
51%
0%
0%
0%
0%
15%
0%
0%
0%
0%
34%
100%
100%
11 10/23
16,500
-1.8
2.79 1.0
0.8 1.1
0.8 -0.9
-2.7
0.8 -0.1
88%
0%
0%
0%
0%
0%
0%
0%
0%
0%
12%
100%
100%
12 09/23
18,389
-5.0
3.05 2.4
2.3 2.4
2.0 -2.1
-6.1
2.0 0.0
38%
0%
0%
0%
0%
3%
0%
0%
20%
4%
35%
100%
100%
13 09/23
24,387
-5.1
2.52 2.3
2.0 2.3
1.7 -1.8
-5.6
1.8 -0.1
75%
0%
0%
0%
0%
0%
0%
0%
0%
0%
25%
100%
100%
14 12/23
26,100
-4.0
0.23 1.1
1.1 1.1
1.0 -1.0
-2.9
1.0 0.0
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
15 12/23
26,691
-5.6
2.01 2.5
2.4 2.6
2.1 -2.2
-6.6
2.1 0.0
60%
0%
0%
0%
0%
3%
0%
0%
0%
0%
37%
100%
100%
16 12/23
36,570
-6.8
1.18 2.3
2.3 2.3
2.1 -2.1
-6.2
2.1 0.0
98%
0%
0%
0%
0%
0%
0%
0%
0%
0%
2%
100%
100%
17 09/23
37,470
0.4 5.62
1.2 0.7
1.5 0.9
-1.1
-3.5
1.0 -0.2
100%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
18 09/23
38,036
-5.2
2.22 1.7
1.6 1.7
1.5 -1.5
-4.5
1.5 0.0
37%
0%
0%
0%
0%
0%
0%
0%
34%
0%
28%
100%
100%
19 12/23
39,254
-2.0
3.28 1.3
1.2 1.3
1.2 -1.2
-3.4
1.2 0.0
21%
0%
0%
0%
0%
0%
0%
0%
38%
2%
39%
100%
100%
20 12/23
40,613
-2.1
2.15 1.6
1.3 1.7
1.1 -1.2
-3.7
1.1 -0.1
53%
0%
0%
0%
0%
1%
0%
0%
1%
1%
44%
100%
100%
21 12/23
53,019
-4.3
2.71 2.4
2.2 2.4
1.9 -2.0
-6.0
1.9 -0.1
99%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
100%
100%
22 09/23
58,320
-5.8
2.23 2.4
2.3 2.4
2.2 -2.1
-6.2
2.1 0.1
74%
0%
0%
0%
0%
0%
0%
0%
24%
0%
2%
100%
100%
23 12/23
59,386
-1.0
4.46 2.4
1.2 2.6
1.1 -1.4
-4.9
1.2 -0.3
61%
0%
0%
0%
0%
2%
0%
0%
0%
0%
38%
100%
100%
24 12/23
96,526
-0.1
3.96 2.0
1.7 2.1
1.6 -1.6
-4.7
1.6 0.0
59%
0%
0%
0%
0%
32%
0%
0%
1%
0%
9%
100%
100%
25 09/23
101,842
-5.1
3.23 2.8
2.6 2.9
2.3 -2.3
-6.9
2.3 -0.1
79%
0%
0%
0%
0%
0%
0%
0%
0%
9%
11%
99%
100%
Avg
30,623
-4.8
2.68 2.3
2.1 2.4
1.9 -1.9
-5.6
1.9 0.0
57%
1%
0%
1%
0%
2%
0%
0%
9%
2%
28%
100%
100%
Port
6,216
0.0 0.78
0.0 0.0
0.0 0.0
0.0 0.0
0.0 0.0
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
100%
100%
100%
Diff
-24,407
4.8 -1.90
-2.3
-2.1
-2.3
-1.9
1.9 5.6
-1.9
0.0 -57%
-1%
0%
-1%
0%
-2%
0%
0%
-9%
-2%
72%
0%
0%
* Peer group includes Public Entitys that have received portfolio analysis from Stifel in the last three months with the closest portfolio book values.
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Summary Peer Comparison
Yield and Average Life Peer Comparison
Price Risk Peer Comparison
Each box contains the range of your peer group, the top and bottom of the boxes being the max and min. The gray box is the avg. of your peers within the range and the blue dot represents your position.
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Cash Flow and Rolloff Yield - Next 12 Months
Yield Rolloff
Month
Begin BY
Principal CF
Rolloff Yld
Ending BY
Jan 2024
0.78 6,216
0.78 Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
Jan 2024
6,216
6,216
6,216
6,216
6,216
6,216
6,216
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Cash Flow and Rolloff Yield - Next 10 Years
Yield Rolloff
Year
Begin BY
Principal CF
Rolloff Yld
Ending BY
2024
0.78 6,216
0.78 2025
2026
2027
2028
2029
2030
2031
2032
2033
Shocked Principal and Interest Cash Flow Analysis
Year
-300
-200
-100
Base
+100
+200
+300
2024
6,216
6,216
6,216
6,216
6,216
6,216
6,216
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Sector Cash Flow - Next 12 Months
Jan 24
Feb 24
Mar 24
Apr 24
May 24
Jun 24
Jul 24
Aug 24
Sep 24
Oct 24
Nov 24
Dec 24
Bk Yld Chg
Other
Cash Flow
6,216
End BY
Total
Cash Flow
6,216
End BY
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Sector Cash Flow - Next 3 Years
1Q24
2Q24
3Q24
4Q24
1Q25
2Q25
3Q25
4Q25
1Q26
2Q26
3Q26
4Q26
Bk Yld Chg
Other
Cash Flow
6,216
End BY
Total
Cash Flow
6,216
End BY
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Gap Analysis - Potential Income Impact of Principal Reinvestment Assumed
Estimated
Income
Resulting
Reinvestment
Annualized
Difference from
Yield
Yield
Income
Current Book
at Book
0.25 16
-33
0.25 0.50
31 -18
0.50 0.75
47 -2
0.75 1.00
62 14
1.00 1.25
78 29
1.25 1.50
93 45
1.50 1.75
109
60 1.75
2.00 124
76 2.00
2.25 140
91 2.25
2.50 155
107
2.50 2.75
171
122
2.75 3.00
186
138
3.00 3.25
202
153
3.25 3.50
218
169
3.50 3.75
233
185
3.75 4.00
249
200
4.00 4.25
264
216
4.25 4.50
280
231
4.50 4.75
295
247
4.75 5.00
311
262
5.00 5.25
326
278
5.25 5.50
342
293
5.50 5.75
357
309
5.75 6.00
373
324
6.00 6.25
388
340
6.25 6.50
404
355
6.50 6.75
420
371
6.75 7.00
435
387
7.00 7.25
451
402
7.25 7.50
466
418
7.50 7.75
482
433
7.75 8.00
497
449
8.00 Principal Maturing(12 Mo.Horizon): $6,216
Current Yield at Book of Principal Maturing: 0.78%
Est. Annual Income at Current Yield at Book: $49
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Shocked Cash Flows By Sector - Next 10 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Cash Flows By Sector - Next 30 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Cash Flow Projection By Month - Next 5 Years
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Other - Summary
G/L $
G/L %
WAL
Px Chg
Dur
Cvx
Sector
Par
Maturity
Bk Price
Yield
Mkt Price
Mkt
Base
Base
Base
-100
Base
Base
Subsector
%
Value
Cpn
Next Call
Bk Value
@Bk
Mkt Value
Yield
+ 300
+ 300
+ 300
+300
AFS %
-0.9 yrs
100.00
100.00
0 0.0%
0.01 0.0
0.01 0.00
Cash & Other (1)
100.0%
6,216
0.78 6,216
0.78 6,216
0.78 -1
0.0%
0.01 0.0
100.0%
-0.9 yrs
100.00
100.00
0 0.0%
0.01 0.0
0.01 0.00
Total (1)
100.0%
6,216
0.78 6,216
0.78 6,216
0.78 -1
0.0%
0.01 0.0
100.0%
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Portfolio Considerations
Par
Book
Market
Gain/
Yield
Eff.
Historical CPR
Proj. CPR
Loan
Sector
Cnt
Cpn
Maturity
Value
Price
Price
(Loss)
@ Book
WAL
Dur
1 Mo.
3 Mo.
Life
Life
Count
Yield at Book < 2%
1 0.78
-0.9 yrs
6,216
100.00
100.00
0 0.78
0.0 0.01
Cash & Other
1 0.78
-0.9 yrs
6,216
100.00
100.00
0 0.78
0.0 0.01
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Key Portfolio Sorts
Top 10 Up 300 Market Value Changes (%)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 01/31/23
6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 AFS
0.78 6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 Top 10 Up 300 Market Value Changes ($)
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 01/31/23
6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 AFS
0.78 6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 City of Palmdale - Successor Agency - Palmdale, CA As of 12/31/2023
Portfolio ID: 6753 - 58411
Key Portfolio Sorts
Top 10 Marked to Market Up 300 Loss Positions
Par
Book
Market
Yield
% Px
Δ
$ Amt
Δ
G/L
Eff.
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
WAL
+300
+300
+300
Dur
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 01/31/23
6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 AFS
0.78 6,216
100.00
100.00
0 0.782
0.01 -0.02
-1
-1
0.01 Top 10 Average Life Extension Up 300bps
Par
Book
Market
Yield
% Px
Δ
Eff.
WAL
Chg in
CUSIP
Sector
Description
Cpn
Maturity
Value
Price
Price
G/L
@ Book
+300
Dur
WAL
+300
WAL
INT
PLMDLLAIF
Cash & Other
LAIF
0.78 01/31/23
6,216
100.00
100.00
0 0.782
-0.02
0.01 0.01
0.01 0.00
AFS
0.78 6,216
100.00
100.00
0 0.782
-0.02
0.01 0.01
0.01 0.00
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Other - CUSIP Detail
Coupon
Step
Gain/(Loss)
% Px
Δ
Effective
Par
Type
Date
Proj.Mat.
Bk Price
Yield
Mkt Price
%
-100
Dur
ESG/G
r
CUSIP
Ticker
Value
Rate
Rate
Final Mat.
Bk Value
@ Bk
Mkt Value
Mkt Yield
$
+300
Cvx
Intent
Fixed
01/24
100.00
100.00
0.0%
0.0 0.01
PLMDLLAIF
6,216
0.780
01/31/23
6,216
0.78 6,216
0.78 0
0.0 0.00
AFS
100.00
100.00
0.0%
0.0 0.01
Cash & Other
6,216
0.780
6,216
0.78 6,216
0.78 0
0.0 0.00
100.00
100.00
0.0%
0.0 0.01
Total
6,216
0.780
6,216
0.78 6,216
0.78 0
0.0 0.00
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Shocked CUSIP Analysis
-300
-200
-100
Base
+100
+200
+300
Par Value
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
$ Amt
Δ
% Px
Δ
CUSIP
Coupon
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Mkt Px
Mkt Yld
Description
Maturity
WAL
WAL
WAL
Dur
WAL
WAL
WAL
WAL
6,216
1 0.02%
1 0.01%
0 0.01%
0 0.00%
0 -0.01%
-1
-0.01%
-1
-0.02%
PLMDLLAIF
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 LAIF
01/31/2023
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
Other
6,216
1 0.02%
1 0.01%
0 0.01%
0 0.00%
0 -0.01%
-1
-0.01%
-1
-0.02%
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 0.01
0.01 0.01
0.01 0.01
0.01 0.01
0.01 Total
6,216
1 0.02%
1 0.01%
0 0.01%
0 0.00%
0 -0.01%
-1
-0.01%
-1
-0.02%
0.78 100.02
-2.21
100.01
-1.21
100.01
-0.22
100.00
0.78 99.99
1.79 99.99
2.80 99.98
3.81 -1
0.01 0.01
0.01 0.01
0.01 0.01
0.01 0.01
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Portfolio Changes
Securities Sold/Redeemed 9/2023-12/2023
CUSIP
Sector
Security Description
Maturity
Coupon
Original Face
Book Price
Intent
Redemption Type
PLMDLLAIF
Other
LAIF
01/31/2023
0.78 6,215,832
100.00
AFS
Partial Sale
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Shocked Assumptions
Scenarios
Down 300
Down 200
Down 100
Base
Up 100
Up 200
Up 300
Shift Amount
-300
-200
-100
0 100
200
300
Curve Slope Change
0 0
0 0
0 0
0 Shock Horizon
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Immediate
Curve Type
Static
Static
Static
Static
Static
Static
Static
Valuation Date
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
2023-12-31
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
Report Assumptions
Assumptions
·
Calculation Engine
The Yield Book © and ZM Financial
·
Cash Flow Model
The Yield Book ©
·
Curve Date
Same as Portfolio As Of Date
·
Curve Type Used
Swap Curve
·
Curve Shape
Immediate Sustained Parallel Shocks
·
Price Shock Methodology
Constant OAS for fixed rate securities; immediate market shift for floating rate securities ·
Horizon Period
Immediate Time Horizon
·
Reinvestment Rate
3 Month T-Bill
·
Cost of Funds
1.00%
·
Tax Rate
21.0%
Additional Information
Rolloff Yield
- Rolloff Yield is the weighted average yield of the cashflows (maturities, calls and paydowns) that roll off during the noted time period. Ending Yield at Book is the weighted average yield of the remaining securities at the noted time period.
Shocked Scenarios
- All shocked scenarios are instant and parallel and assume a sustained rate cycle from that point on. LIBOR OAS is held constant in order to generate shocked market scenarios and The Yieldbook was used to generate the projected cash flows. In shocked scenarios, 0.01% is considered the floor.
Bonds Likely to be Called
- The page identifies all callable agencies which will either be called or mature in the next 12 months in any of the shocked scenarios. The methodology used to determine the call assumes a small internal margin to account for the "cost to call." Municipals
- For taxable institutions, the above tax rate detailed - along with TEFRA adjustments for BQs - is used to calculate TEY unless otherwise input. Ratings are a blend of Moody's and Standard & Poors.
Duration
- Duration in the shocked detail section is generated by Yield Book.
Original Face
- If original face was not supplied, original face was estimated by dividing current face by current factor.
Yields
-
All yields are Yield to Projected Scenario. (Assumes 100% of The Yield Book prepayment model).
City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
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City of Palmdale - Successor Agency - Palmdale, CA
As of 12/31/2023
Portfolio ID: 6753 - 58411
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT
MAINTENANCE DIVISION
DISTRICT: ALL
SUBJECT: APPROVE REQUISITION NO. 240 740 WITH WARREN-ANDERSON FORD, INC. FOR THE PURCHASE OF ONE ROADLINE MODEL
GPMT GRAFFITI REMOVAL TRUCK IN AN AMOUNT NOT TO
EXCEED $156,947
RECOMMENDATION
Staff recommends that the City Council:
1. Approve Requisition No. 240740 with Warren-Anderson Ford, Inc. for the purchase of one Roadline Model GPMT Graffiti Removal Truck in an amount not to exceed $156,947; and,
2. Authorize the City Manager or her designee to approve the requisition and resulting purchase order with Warr en-Anderson Ford , Inc. , including minimal and/or non-substantial changes.
BACKGROUND
Graffiti is one of the leading issues reported to the City’s Maintenance Division . Last fiscal year, more than 2,900 work orders were completed, resulting in 407,092 square feet of graffiti removal at over 4,400 locations citywide . From July to December 2023, work orders and square footage increased by 50%, with incident locations up by 70%.
This year is on trend to exceed Fiscal Year 2022-2023 totals.
The Graffiti Abatement team consists of three full-time technicians and two part -time staff. The influx of reported incidents strains the team’s ability to respond to the reported locations in a timely manner, many of which are recurring areas that are tagged soon after removal. The Landscape S ection is currently recruiting three additional part -time staff to join the Graffiti team to assist with this inundation, but upgraded equipment is still needed.
In May and November 2023, to help address the ongoing problem and improve program efficiencies, the City purchased and put into service two similar specialized graffiti removal trucks . However, one technician continues to utilize outdated vehicles and equipment, which requires towing a pressure washer trailer with two gasoline-powered, Report to Mayor and City Council
Re: Approve Req. No. 240740 with Warren-Anderson Ford, Inc.
February 7, 2024
airless paint pumps. This operation is cumbersome and makes maneuvering in tight spaces difficult. This type of equipment must continually be cleaned and maintained between uses, resulting in decreased response times. Adding a third graffiti removal truck will outfit all program technicians with safer, more efficient equipment to streamline operations, increase production, and improve response time.
DISCUSSION
Graffiti abatement is an integral part of keeping the City’s public areas safe and clean while maintaining a high quality of life in our community. Therefore, it is essential to equip staff with updated equipment to accomplish these goals.
In late 2023, staff were notified that Ventura County did not proceed with an F550 Graffiti truck order originally ordered in 2020. This proposed Roadline Model GPMT Graffiti Removal Truck will be fully equipped with up to four airless pumps and corresponding airless spray guns connected by high-pressure lines of various lengths, contained by a reel hose at the rear of the truck. A hot water high-pressure water blaster will rest on the bed of the truck, which uses a cleaning solution to remove graffiti. Safety lights will be installed to warn other vehicles and pedestrians about the truck. This addition to the fleet will save the City on maintenance costs incurred from using older vehicles and equipment.
This truck will be ready for delivery and put into service in the first quarter of 2024.
The existing vehicles will remain in City inventory and will be used as a backup for graffiti removal when needed and to support the Landscape Maintenance Division.
FISCAL IMPACT
$156,947; Funds for the purchase order with Warren-Anderson Ford, Inc. for one Roadline Model GPMT Graffiti Removal Truck are budgeted in Measure AV equipment capitalized (15733006-774400). Operating and maintenance costs are projected to be approximately $10,800 annually. This includes fuel, lubricants, scheduled and unscheduled maintenance, and parts.
STRATEGIC PLAN
Goal III: Invest in infrastructure to improve community livability.
B. Seek innovative, cost-effective, customer-focused methods of service delivery.
Prepared by: Lynn Glidden, P.E. Director of Public Works Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney Report to Mayor and City Council
Re: Approve Req. No. 240740 with Warren-Anderson Ford, Inc.
February 7, 2024
ATTACHMENTS
Req. No. 240740 with Warren-Anderson Ford, Inc.
Quote Warren-Anderson Ford Graffiti Removal Truck
Photos of Graffiti Removal Truck
================================================================================ Bill To | Requisition 00240740-00 FY 2024 FINANCE DEPARTMENT |
38300 SIERRA HWY |Acct No:
STE D |15733006-774400
PALMDALE, CA |Review:
93550 |Buyer: mharris
|Status: Approved Page 1
================================================================================ Vendor Ship To
WARREN-ANDERSON FORD, INC. PUBLIC WORKS/MAINTENANCE 8000 AUTO DRIVE 39110 3RD ST EAST
PALMDALE, CA 93550
RIVERSIDE, CA 92504 [email protected]
Delivery Reference
ADAM DYER
-------------------------------------------------------------------------------- Date |Vendor |Date |Ship | |
Ordered |Number |Required |Via |Terms |Department -------------------------------------------------------------------------------- 01/04/24 |009569 |01/04/24 |DESTINATION/NET 45 |STREET MAINTENANCE -------------------------------------------------------------------------------- LN Description / Account Qty Unit Price Net Price 001 AUTOMOTIVE VEHICLES AND RELATED 1.00 156946.44000 156946.44
TRANSPORTATION EQUIPMENT EA
(INCLUDING TRAILERS) (EFFECTIVE
1-1-06 THIS CLASCTIVATED, REFER TO
CLASSES 071, 0ND 073)
Additional Description Notes
-------------
THIS PURCHASE ORDER IS PENDING CITY COUNCIL'S APPROVAL ON FEBRUARY 7, 2024.
Vendor Item
1 15733006-774400 156946.44 Requisition Link
Requisition Total 156946.44
***** General Ledger Summary Section *****
Account Amount Remaining Budget 15733006-774400 156946.44 564337.07
FLEET MAINTENANCE EQUIPMENT-CAPITALIZED
***** Approval/Conversion Info *****
Activity Date Clerk Comment
E-mail 01/04/24 Bruce Roadhouse e-mail notification sent E-mail 01/04/24 Joel Kefuss e-mail notification sent E-mail 01/04/24 Lynn Glidden e-mail notification sent E-mail 01/04/24 Janelle Samson e-mail notification sent E-mail 01/04/24 Candice Mantell e-mail notification sent E-mail 01/04/24 Dawn McIntosh e-mail notification sent E-mail 01/04/24 Matthew Harris e-mail notification sent ================================================================================ Bill To | Requisition 00240740-00 FY 2024 FINANCE DEPARTMENT |
38300 SIERRA HWY |Acct No:
STE D |15733006-774400
PALMDALE, CA |Review:
93550 |Buyer: mharris
|Status: Approved Page 2
================================================================================ Vendor Ship To
WARREN-ANDERSON FORD, INC. PUBLIC WORKS/MAINTENANCE 8000 AUTO DRIVE 39110 3RD ST EAST
PALMDALE, CA 93550
RIVERSIDE, CA 92504 [email protected]
Delivery Reference
ADAM DYER
-------------------------------------------------------------------------------- Date |Vendor |Date |Ship | |
Ordered |Number |Required |Via |Terms |Department -------------------------------------------------------------------------------- 01/04/24 |009569 |01/04/24 |DESTINATION/NET 45 |STREET MAINTENANCE -------------------------------------------------------------------------------- LN Description / Account Qty Unit Price Net Price Authorized By: ___________________________ Date: _____________ Signature
Specialized Graffiti Removal Trucks
Roadline Model GPMT Graffiti Removal Truck
Other/Previous Graffiti Removal Vehicle & Trailer
Graffiti Removal Trucks In Action
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT
ENGINEERING DIVISION
DISTRICT: 5
SUBJECT: NOTICE OF COMPLETION – ACCEPT PUBLIC IMPROVEMENTS FOR MCDONALD’S LOCATED AT 1671 E. PALMDALE
BOULEVARD
RECOMMENDATION
Staff recommends that the City Council:
1. Accept the Notice of Completion for completed public improvements for McDonald’s located at 1671 E. Palmdale Boulevard; and,
2. Authorize the City Manager or h er designee to file a Notice of Completion (NOC) and release the security for the completed public improvements.
BACKGROUND
This project, located at the north west corner of 17th Street East and Palmdale Boulevard, constructed public street improvements along 17 th Street East within the City’s right-of-way. Improvements include the relocation of a driveway and a streetlight and the replacement of the existing curb, gutter, sidewalk, and parkway drain. Said public improvements have been installed per the approved construction plan, inspected, and approved by City Public Works inspection staff. No improvements were made to Palmdale Boulevard.
DISCUSSION
The Notice of Completion is being brought forth in accordance with Section
16.110.060 of the City’s Municipal Code. This Council action will accept the public improvements as complete and initiate the City’s release of applicable securities posted for this project per the City’s subdivision regulation.
The required public improvements for the project are listed in Exhibit “A” and shown in Exhibit “B ” and have been completed to the satisfaction of the City Engineer as required in the Subdivision/Development Improvement Agreement between the developer and the City. After the developer fulfills a one -year maintenance period, the Report to Mayor and City Council
Re: NOC Completed Public Improvements – 1671 E. Palmdale Blvd.
February 7, 2024
improvements along 17 th Street East will resume to be maintained by the City Maintenance Division. Caltrans will continue to maintain the street improvements along Palmdale Boulevard.
FISCAL IMPACT
$0; The estimated additional maintenance costs are zero, as the improvements included relocation and repair of existing infrastructure.
STRATEGIC PLAN
Goal III: Invest in infrastructure to improve community livability.
C. Plan and maintain safe and attractive neighborhoods, streets, facilities, and public spaces with exciting programming that promotes active fun for everyone.
Prepared by: Lynn Glidden, P.E., Director of Public Works Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney
ATTACHMENTS
Exh A List of Completed Public Improvements
Exh B Vicinity Map
NOC
Photo of Site
EXHIBIT A
LIST OF COMPLETED PUBLIC IMPROVEMENTS
Tract/Project Plan # Quantity Security
McDonald’s ST 21-24 85 LF $16,300 Street Improvements
McDonald’s GD 21-24 1 PARKWAY DRAIN $3,800 Drainage Improvements
EXHIBIT B
SITE MAP
RECORDING REQUESTED BY:
CITY OF PALMDALE
WHEN RECORDED MAIL TO:
CITY OF PALMDALE
OFFICE OF THE CITY CLERK
38300 SIERRA HIGHWAY, SUITE C
PALMDALE, CA 93550
Space above this line is for Recorder’s Use
NOTICE OF COMPLETION
Notice pursuant to Civil Code Section 3093, is hereby given that:
1. The undersigned is owner or corporate officer of the interest or estate stated below in the property hereinafter described.
2. The full name of the owner is City of Palmdale, a Municipal Corporation.
3. The full address of the owner is 38300 Sierra Highway, Palmdale, CA 93550.
4. The nature of interest or estate of the owner is: Street Improvements.
5. A work of improvement on the property hereinafter described was completed on December 13, 2023
6. The work done was: “ Public Right of Way Street Improvements”,
7. The name of the Developer for such work of improvement: McDonald’s USA LLC.
8. The property on which said work of improvement was completed is in the City of Palmdale, County of Los Angeles, State of California, and is described as follows: North of Palmdale Blvd. and 17th Street East.
9. The address of said property is: 1671 E. Palmdale Blvd.
Dated: February 7, 2024
CITY OF PALMDALE
Guillermo I. Padilla, City Engineer
____________________________________________________________________________
VERIFICATION
I, the undersigned, say: I am the City Engineer, the declarant of the foregoing notice of completion; I have read the said notice of completion and know the contents thereof; the same is true of my own knowledge.
I declare under penalty of perjury that the foregoing is true and correct.
Executed on February 7, 2024, in the City of Palmdale, California.
Guillermo I. Padilla, City Engineer
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: PUBLIC WORKS DEPARTMENT
DISTRICT: 1
SUBJECT: APPROVE AGREEMENT WITH JONES LANG LASALLE (JLL),
INCORPORATED FOR A CALIFORNIA AIR RESOURCES BOARD
(CARB), FLEET ELECTRIFICATION AND MICROGRID STUDY IN
THE AMOUNT OF $ 150,000 FOR A TERM OF SIX MONTHS FROM
THE DATE OF THE NOTICE TO PROCEED
RECOMMENDATION
Staff recommends that the City Council:
1. Approve Agreement No. A-8659 with Jones Lang LaSalle (JLL), Incorporated for California Air Resources Board (CARB), Fleet Electrification and Microgrid Studies in the amount of $150,000 for a term of six months from the date of the Notice to Proceed; and,
2. Authorize the City Manager or her designee to execute Agreement No. A-8659 with Jones Lang LaSalle Incorporated (JLL) , including minimal and/or non- substantial changes.
BACKGROUND
According to the California Air Resources Board (CARB), the transportation sector is the single most significant contributor of greenhouse gases released into the atmosphere.
They estimate that approximately 40 % of statewide emissions are from the transportation sector, with it being as high as 50 % when refinery and production emissions are factored in. In addition to statewide transportation efforts, State and Local Government entities (such as the City of Palmdale) have greater electric energy compliance requirements. For example , beginning on January 1, 2024 , 50% of annual vehicle purchases per year must be zero-emission vehicles (ZEV), and beginning on January 1, 2027, 100% of vehicle purchases must be ZEV.
The City of Palmdale currently has over 200 vehicles in its fleet. The City’s transition to lower-emission vehicles is underway, with 90 heavy-duty vehicles being transitioned to ZEV. Additional battery electric and hydrogen vehicles are planned and coupled with the required electrification of power tools (running on battery power).
Report to Mayor and City Council
Re: Approval of Agreement No. A-8659
February 7, 2024
Funding is being made available for microgrid projects, which could incorporate the above-mentioned energy sources and operate independently of the grid in the case of a power outage. A microgrid is a group of energy loads and resources acting as a single entity in relation to the electrical grid. This allows the connected entities to have grid connectivity but could also operate independently of the grid as needed.
DISCUSSION
Currently, the City’s Maintenance Yard can accommodate a small number of electrified vehicles; however, the facility’s infrastructure would not be able to support the transition to an all-ZEV fleet and battery-powered power tools. Therefore, the City must create a plan to transition to its use of future energy sources. In addition, local businesses that are large energy users must also find ways to address their energy needs, and the City’s Community Choice Aggregation program, Energy for Palmdale’s Independent Choice (EPIC), needs to find ways to address this issue.
In response to this issue, the City released a Request for Proposals (RFP) for a CARB Fleet Electrification and Microgrid study. The RFP requested proposals for determining the Maintenance Yard’s needs, how to best address the needs, and an outline of how the successful bidder can perform future microgrid studies on behalf of EPIC and its customers’ future needs.
The City received nine (9) proposal responses. After a detailed review by a City selection committee, JLL was selected to perform the study. They will perform a study to determine what the City’s fleet will look like as it transitions to an all-ZEV fleet in accordance with CARB requirements, what the Maintenance Yard’s infrastructure needs to accommodate the City’s future fleet, and how best to phase in the needed infrastructure. Additionally, JLL may prepare proposals and quotes for future microgrid studies as needed by EPIC.
FISCAL IMPACT
$150,000; The City has budgeted funding from an Energy Efficiency and Conservation Block Grant (EECBG) in Account Number G0165241-724525-2420.
Report to Mayor and City Council
Re: Approval of Agreement No. A-8659
February 7, 2024
JLL’s proposed budget is as follows:
Action Item Proposed Hours Budget
Project Management 60 $16,000
High-Level Vehicle
Conversion Review
137 $38,000
Filing for Postponement 20 $5,000
Capacity Review 90 $22,000
Technology Review 30 $8,000
Needs Assessment and
Gap Analysis
120 $28,000
Financing Mechanisms and
Strategies
100 $23,000
Phase Master Plan 42 $10,000
TOTAL $150,000
Large EPIC commercial customers may also want to utilize JLL for their own microgrid studies. As needed studies are identified, staff may return to the Council for approval of the said studies and will outline how the studies will be funded.
STRATEGIC PLAN
Goal III: Invest in infrastructure to improve community livability.
A. Seek innovative, cost-effective, customer-focused methods of service delivery.
Prepared by: Lynn Glidden, P.E., Director of Public Works Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney
ATTACHMENTS
Agrmt No. A-8659 with Jones Lang LaSalle Incorporated
AGREEMENT NO. A-8659
CONTRACT FOR CONSULTANT SERVICES
BETWEEN THE CITY OF PALMDALE AND JONES LANG LASALLE AMERICAS, INC.
THIS CONTRACT FOR CONSULTANT SERVICES (“Contract” herein) is made and entered into by and between the City of Palmdale a public body corporate and politic, (hereinafter called “CITY”) and JONES LANG LASALLE AMERICAS, INC. (hereinafter called “CONSULTANT”). This Contract shall become effective on the date of the last signatory.
RECITALS
WHEREAS, City desires to engage CONSULTANT to provide certain consultant services; and
WHEREAS, CONSULTANT represents that CONSULTANT has the expertise and is qualified to perform the services described in this Contract. And, if required, is duly registered under the laws of the State of California; and WHEREAS, CONSULTANT desires to accept such engagement.
NOW, THEREFORE, the parties agree as follows:
1 DESCRIPTION OF WORK
1.1 The City hereby engages CONSULTANT, and CONSULTANT accepts such engagement, to provide the following services:
a. High-Level Vehicle Conversion Review
Consultant will prepare a high-level analysis to identify a purchasing strategy for transitioning the City’s fleet to a Zero Emission Vehicle (ZEV) fleet, including short- term, medium-term, and long-term purchasing milestones. The analysis will provide a high-level identification of vehicle replacement suitability from a technical and financial perspective. Consultant will engage the City’s Fleet Maintenance Superintendent and other appropriate personnel via a data validation and scenario- building meeting to collaboratively identify key scenarios/needs to include in the fleet assessment. The scenarios identified will integrate with the Consultant’s software, EValuate™, to address their impact on the fleet transition strategy. Consultant will recommend the most cost-effective ZEV options that meet the following operational requirements:
• Vehicle Type – ZEV matches the vehicle type and weight for existing fleet vehicle.
Consultant will work with the City to determine if current vehicle use has any operational flexibility that could lead to and expand range of potential vehicles, optimizing total cost of operation (TCO).
1-19Concord - Document ID: generated after first signature • Range – ZEV range is sufficient to support the fleet vehicle’s daily range requirement, accounting for reduced Electric Vehicle (EV) range in extreme climates. • Charging and Refueling – EV, with recommended charger, can fully charge to meet the daily range requirement during non-operating hours. Consultant will identify appropriate methods to refuel a Hydrogen fueled vehicle.
Upon identifying the technical suitability of ZEV replacements, Consultant will use EValuate™ to examine the financial suitability of transitioning the City’s fleet.
Consultant will work with the City to determine and adjust cost parameters it considers financially suitable. Still, the baseline analysis will make recommendations only where the ZEV TCO is estimated to be less than 100% of the TCO of a new ICE vehicle. To make ZEV replacement recommendations, EValuate™ performs an apple-to-apples comparison between ICE and ZEVs using preestablished financial considerations. The factors are refined to capture the most accurate comparison for the fleet, highlighting capital expenditure (CapEx) and operational expenditures (OpEx) costs that impact the TCO.
b. Filing for Postponement
Based on the fleet conversion review results, Consultant will determine whether the City can comply with the California Air Resources Board (CARB) Advanced Clean Fleets regulation. This determination will be based on confirmation that the City meets one of the eligible delay criteria: manufacturing and shipping of infrastructure equipment, changes in general contractor, obtaining power/fuel, unexpected safety issues during construction, discovery of archaeological/historical/tribal cultural resources, natural disasters, utility cannot supply enough power to fleet owner site.
Consultant will engage directly with Southern California Edison (SCE) to understand if the requisite electrical capacity to meet EV charging requirements can be provided in time to meet the CARB requirements. Concurrently, Consultant will leverage its network of over 80 EV charging and microgrid developers to gauge whether supply chain issues could impact delivery of EV charging infrastructure and compliance with CARB electrification requirements. This assessment will lead to recommendations for any filings or actions with CARB or other entities to adjust electrification timelines. c. Capacity Review
Consultant will use its collective engineering and design experience to provide a comprehensive capacity review for the City’s Maintenance Yard. Consultant will analyze the site’s existing electrical infrastructure for capacity to support charging operations for the planned ZEV fleet and additional capacity for ancillary loads beyond vehicle loads. Consultant will perform a load and forecasting analysis that incorporates the impact of planned energy conservation measures, renovations, and 2-19Concord - Document ID: generated after first signature any new construction at the Maintenance Yard to establish a load profile for the site.
Concurrently, Consultant, will schedule and execute detailed site surveys to assess the condition of existing infrastructure and the feasibility of utility or City distribution infrastructure upgrades. Using the collected information, Consultant will perform preliminary power system analyses, including power flow and short circuit studies, to identify any grid integration challenges, voltage regulation, system capabilities, and potential infrastructure system upgrades needed to meet the utility or onsite distribution electrical system needs to incorporate solar. Consultant will identify red- flags and major cost drivers early on in project development and capture the data within the comparison of alternative solutions so that the City can make the most informed investment prioritizations.
d. Technology Review
Consultant will perform a Microgrid technology review for the Maintenance Yard site, capturing a concept intended to meet the maximum expected load from the charging needs and the ability to use the Microgrid in use cases. Consultant will review Battery Energy Storage Systems (BESS), renewable and fuel-burning energy generation options, hydrogen, and backup energy options. The team will include site visits as necessary into the surveys, as well as using aerial, satellite, and street-view pictures to measure available site space adequately. Consultant will review multiple Microgrid configurations with various technologies using a distributed generation optimization software, HOMER Grid, to model different dispatching use cases. The use cases will be designed to meet the maximum expected load as well as provide options for the City to use in different scenarios for potential economic payback. Use cases will assess the incorporation of single and/or multiple loads as well as the following:
• Peak Shaving – Energy storage provides energy cost avoidance on utility bills, charging during hours with low cost or usage and discharging during hours with high cost or usage.
• Energy Resilience – Onsite energy enables additional resilience benefits such as back-up power for minutes or hours in the case of an outage. • Load Shifting – Energy storage can also provide energy cost avoidance through load shifting with similar intention and benefit as peak shaving. • Renewable Production Shifting – Pairing energy storage with solar also allows the battery to shift excess solar production in situations where net metering is unavailable or has a low financial incentive or to firm up the peak shaving ability of the solar. In these scenarios, the battery provides power conditioning, frequency regulation, manages the intermittency of solar production, and provides some energy storage during times with no to minimal solar production.
3-19Concord - Document ID: generated after first signature • Carbon arbitrage – Energy storage can also help lower emissions from the grid by performing carbon arbitrage; shifting electric consumption from high emissions periods to periods of low emissions.
• Microgrid System Augmentation – Batteries can participate in ancillary markets or demand response programs to generate revenue. Outputs will identify the configurations (e.g., fully behind the meter, net metering, etc.) and system sizes that maximize return on investment. Each site will review these use cases along with State and Federal incentives and Energy Storage credit programs to include with each facility cost estimate.
e. Needs Assessment and Gap Analysis
After the capacity review and initial conceptual layouts have been created, Consultant will leverage the work to identify the necessary charging stations to meet the City’s electrification goals and provide a gaps analysis for the current electrical infrastructure at the Maintenance Yard to identify any system augmentation necessary to accommodate the new EV charging and microgrid infrastructure.
After completing the needs assessment and gaps analysis, Consultant will build out capital cost estimates for the proposed configurations to meet the City’s vehicle electrification and charging goals. Consultant will use HOMER Grid to develop a granular definition of investments and savings through an optimization of equipment sizing and operational dispatch of energy assets. This will inform an iterative approach to cost estimating that allows for efficient assessment of technology opportunities and more refined cost estimates as prioritized projects are defined.
Consultant will leverage validated cost information from its vast network of vendors and developers, and actual cost data from implementing comparable projects.
Consultant will evaluate various incentive and credits-based programs to maximize the potential cost savings in the capital cost estimates, such as applicable California rebates, investment tax credits, cost savings, Renewable Energy Certificate (REC) revenue programs, the CA Microgrid Incentive Program, and the Inflation Reduction Act (IRA) direct pay option for any solar installation options. Consultant will determine the cost-effectiveness and application of each program based on the City’s risk appetite and potential impacts to operations. Consultant will build out a cost estimate for the EV charging infrastructure, Microgrid configurations, and any infrastructure upgrades necessary to install the proposed systems. The components considered in each estimate are listed below:
• Capital cost estimates
• EV Charging equipment
• Microgrid assets (Solar, BESS, fuel-burning generation) • Site backup/black-start generation
4-19Concord - Document ID: generated after first signature • Ancillary equipment (Transformers, inverters, switchgear, etc.) • Maintenance Yard infrastructure upgrades (Power cabling, transformers, breakers, switching/relays, etc.)
• Construction costs for all equipment
• Full project lifecycle costs (site prep, installation, commissioning, turnover, etc.) • Separately shown estimated tax credits, rebates, savings, etc. • Included line item of $/watt breakdown, both with and without tax credits or rebates f. Financing Mechanisms and Strategies
Using the results of the needs assessment and gap analysis, Consultant will explore various financing and ownership structures in the development, operation, and maintenance of EV charging infrastructure for the City’s electrified fleet. Specifically, Consultant will consider the infrastructure requirements identified in this study and the City’s fleet electrification plan and develop financial models that compare the costs and benefits of various charging infrastructure ownership models, including but not limited to customer owned, as-a-service, and site host. The following table describes the various ownership models, benefits, and key considerations for each.
Refer to Attachment 1.
Utilizing the City’s fleet electrification plan as the basis for required capital expenditures, Consultant will analyze City capital budgets, operations and maintenance capabilities, monetization potential of existing assets, and State and local regulatory frameworks to develop and present a cost-benefit analysis of the various ownership models described above. The analysis will include a lifecycle cost assessment of each model that incorporates capital costs, Federal, State, and local incentives (including Inflation Reduction Act direct pay provisions and transferability), grid benefits, electricity savings, asset monetization, and operations and maintenance costs under various ownership structures as well as risks and mitigants for each option. The Team takes an agnostic approach to the transaction structure and will present model options that fit the individual needs of the City. g. Future Staffing Needs [Optional Scope]
Consultant focuses on maintaining a commitment to local workforces by supporting the local jobs created by project implementation and maintenance and has direct experience hiring and managing electrician staff to install EV charging equipment and managing crews to provide the O&M on the infrastructure. Consultant can provide insight on simplifying operations by reducing overhead and knowledge gaps. One method to achieve this is to hire the same electrical crews to install and maintain the EV charging infrastructure. Consultant will provide an O&M staffing plan based on the conceptual configurations discussed above. The plan will include the staffing needs broken out by position and/or portions or a position, showing the buildup of this plan 5-19Concord - Document ID: generated after first signature through the time/frequency investment of each operation and maintenance activities for the installed infrastructure. The plan will be reviewed with the local Community Choice Aggregator (CCA), Energy for Palmdale’s Independent Choice (EPIC) for any roles/responsibilities that may require their management. The positions and portions of positions required will be detailed clearly for adequate planning by City staff. h. Phased Master Plan
Consultant has direct implementation experience, with its engineering and development teams having extensive experience navigating behind-the-meter interconnection and permitting with utilities nationwide. Consultant will utilize this experience to support the City in creating a Phased Master Plan of the steps to build the project. Consultant also brings direct execution Project Management experience on EV charging and similar style projects. Consultant will provide two Phased Master Plans, each building using one of the primary project procurement methods:
• Design Bid Build
• Design Build (turnkey)
Consultant’s experience building these projects provides special insight into the engineering design, equipment specification, construction execution, and project-wide safety, all that is needed to properly create a Master Plan for implementation. The Team will work with the City to incorporate the vehicle electrification plan into each Master Plan where applicable to ensure a comprehensive and complete timeline for the City’s planning efforts. Consultant will also support the City in creating a charging strategy as some of the final milestones in each proposed Master Plan based on the team’s direct experience in designing and building EV charging stations and managing and optimizing charging infrastructure. All portions of master planning will be reviewed with the City stakeholders to ensure inputs and concerns are incorporated to best serve the City in planning these initiatives.
Future Microgrid Studies
Consultant shall provide additional “as-needed” services to support the City in the deployment of sustainable and resilient microgrids. Should the City wish to go to market for additional distributed energy infrastructure and microgrid project concept(s), Consultant will provide project development and procurement support that leverages its end-to-end clean energy and microgrid expertise. Depending on the specific needs of each individual project, services may include:
• Portfolio-level review of city assets and prioritization of microgrid investments • Project ideation
• Technical, financial and market assessment
• Infrastructure assessment
6-19Concord - Document ID: generated after first signature • Site surveys
• Site-specific feasibility analysis
• Utility coordination
• Environmental reviews and permitting
• Conceptual design and engineering analysis
• Development of a detailed procurement plan inclusive of an assessment of the need for an RFI and/or a one or two step procurement process • Creation of commercial terms and conditions
• Preparation of evaluation criteria
• Pursuit of relevant grant funding
• Formation of a detailed scope of work, technical (performance, maintenance, operational), and ownership model requirements
• Facilitating an industry day post procurement release • Performing detailed financial and technical analysis on developer proposals • Submission of SCE interconnection application and support implementation • Negotiation of project award; and
• Provision of owner’s advisory support to design and construction activities such as performance management, conflict adjudication, third-party coordination with utility and developer, independent design reviews, submittal management, commissioning and testing oversight, and construction project management.
CONSULTANT shall perform and complete all such work and services in a manner satisfactory to CITY.
1.2 Project deliverables shall be reviewed and approved by CITY to determine acceptable completion. CITY shall have the right to review and inspect the work during the course of its performance at such times as may be specified by CITY.
1.3 CONSULTANT shall not accept any change of scope, or change in contract provisions, unless issued in writing, as a contract change order or amendment and signed by CITY. Any extensions of time must be mutually agreed upon in writing and executed by both parties.
1.4 CITY shall provide to CONSULTANT, without charge, all data, program information, including reports, records, maps, and other information, now in CITY’s possession, which may facilitate the timely performance of the work. 2 CITY PROJECT MANAGER
To provide the services required by this Contract, CONSULTANT shall act under the authority and approval of a Project Manager appointed by CITY. The City Project Manager will oversee the work under this Contract, assist CONSULTANT with any necessary information, audit billings, and approve payments. CONSULTANT shall channel reports, deliverables, and special requests through the City Project Manager. 7-19Concord - Document ID: generated after first signature 3 CONSULTANT’S KEY PERSONNEL
CONSULTANT’s Team and Key Personnel are as follows:
Andrew Linowes, JLL, Project Manager
Robert Anderson, JLL, Senior Vice President
Johnathon Mollet,P.E., JLL, Senior Associate
Matthew Kornisarjvesky, P.E., JLL, Senior Associate
Sean Lepo, JLL, Analyst
Douglas Mackenzie, JLL, Vice President*
(*Back up Project Manager)
Ryan Daley, Next Era, Director of Fleet Consulting
Amy Kouch, Next Era, Senior Data Analyst
Tim Karacostas, P.E., Next Era, Principal Engineer
Dave Klochner, Next Era, Senior Director, Energy Solutions This Consultant Services Contract has been awarded to CONSULTANT based on its representation that those personnel and subcontractors listed above will perform the portions of the work listed herein. CONSULTANT shall not deviate nor substitute any of these team members without prior written approval by CITY. 4 CONTRACT TERM
The term of this contract is six (6) months, commencing on the effective date. 5 TAXES
5.1 CONSULTANT shall pay all sales, consumer, use, and other similar taxes required to be paid by CONSULTANT in accordance with state and local laws.
5.2 CONSULTANT is an independent contractor and shall have no power or authority to incur any debt, obligation, or liability on behalf of CITY. No person employed by CONSULTANT or acting on its behalf, in connection with this Contract shall be considered the Agent or employee of CITY.
5.3 CONSULTANT shall be required to obtain a current City of Palmdale business license, as required by the Palmdale Municipal Code, before an Authorization to Proceed is issued.
6 PATENT FEES AND ROYALTIES
CONSULTANT shall pay all license fees and royalties and assume all costs incident to the use, in the performance of the work or the incorporation in the work of any invention, design, process, product or device which is the subject of patent rights or copyrights held by others. If a particular invention, design, process, product or device is specified by CITY for use in the performance of the work and if, to the actual knowledge of CITY, its use is subject to patent rights or copyrights calling for the 8-19Concord - Document ID: generated after first signature payment of any license fee or royalty to others, the existence of such rights shall be disclosed by CITY in the contract documents. CONSULTANT shall indemnify and hold harmless CITY and anyone directly or indirectly employed by CITY from and against all claims, damages, losses and expenses (including attorneys' fees) arising out of any infringement of patent rights or copyrights incident to the use in the performance of the work, or resulting from the incorporation in the work of any invention, design, process, product or device not specified by CITY, and shall defend all such claims in connection with any alleged infringement of such rights. 7 STANDARDS OF PERFORMANCE
CONSULTANT shall be responsible for the completeness and accuracy of its services and work and documents resulting there from, and CITY shall not be responsible for discovering deficiencies therein. CONSULTANT shall correct any such deficiencies or errors without additional compensation and without cost to CITY, except to the extent any such deficiency is directly attributable to deficiencies in CITY -furnished information.
8 CONSULTANT’S PERSONNEL
8.1 All services required under this Contract shall be performed by CONSULTANT, or under CONSULTANT’S direct supervision, and all personnel shall possess the qualifications, permits and licenses required by State and local law to perform such services.
8.2 CONSULTANT shall be solely responsible for the satisfactory work performance of all personnel engaged in performing services required by this Contract, and compliance with all reasonable performance standards established by CITY.
8.3 CONSULTANT shall be responsible for payment of all CONSULTANT’s employees’ and subcontractor’s wages and benefits and shall comply with all requirements pertaining to the employer’s liability, workers’ compensation, unemployment insurance, and Social Security.
8.4 CONSULTANT shall indemnify and hold harmless CITY, and its respective officers, agents and employees from and against all claims, demands, damages or costs arising from CONSULTANT’s acts or omissions with respect to any liability, damages, claims, costs and expenses of any nature arising from alleged violations of personnel practices.
9 COMPENSATION
9.1 For all of work and services including the various phases of tasks as described in Section 1, CITY shall pay to CONSULTANT an amount not to exceed the sum of ONE HUNDRED AND FIFTY THOUSAND dollars ($150000.00), payable as follows:
9-19Concord - Document ID: generated after first signature Refer to Attachment 2.
The Contract Price is CONSULTANT’S estimate of its charges for all of the services, including all labor, equipment, material, subcontractor and reimbursable costs, to be provided under this Agreement. Progress payments shall be made on a time and material basis. Final payment shall be made upon completion of all services and City acceptance of all deliverables, not-to-exceed the Contract Price. All properly submitted invoices will be paid in NET 30 days.
9.2 CONSULTANT shall perform no work in excess of the total contract price without prior written approval of CITY. Total contract price includes expenses related to travel to and from CITY to meet with City and to appear, if so required, before City Council or any other board or commission of CITY.
9.3 CONSULTANT shall maintain adequate records and shall permit inspection and audit by CITY of CONSULTANT’s charges under this Contract. CONSULTANT shall make such records available to CITY during normal business hours upon reasonable notice. Nothing herein shall convert such records into public records, and they will be available only to CITY and any specified public agencies. Such records shall be maintained by CONSULTANT for one (1) year following completion of the work under this Contract unless a longer period of time is required by state or federal law, in which event CONSULTANT shall retain its records for the time required by such laws.
9.4 No payment made hereunder by CITY to CONSULTANT, shall be construed as an acceptance by CITY of any work or materials, nor as evidence of satisfactory performance by CONSULTANT of its obligations under this Contract. 10 INDEMNIFICATION
To the fullest extent permitted by law, CONSULTANT and any contractors or subcontractors working on its behalf agree to indemnify CITY, its officers, employees, agents and elected and appointed boards (hereinafter “Indemnified Parties”) for any third party claim, loss, demand, cause of action, cost, expense, damage, obligation or liability which arises out of or is in any way connected with the performance of any work under this agreement, including any negligent acts or omissions, willful misconduct or negligent conduct, whether active or passive, on the part of CONSULTANT, its contractors or subcontractors, and regardless of any acts, omissions or negligence (whether active or passive) of any person or entity indemnified hereunder. At their own expense, CONSULTANT and, as applicable, any contractors or subcontractors working on its behalf, shall defend any third party suit, claim or action against the Indemnified Parties founded upon such loss, claim, demand, cause of action, cost, expense, damage, obligation or liability.
CONSULTANT shall ensure that the contract of any contractor or subcontractor working under this agreement contain an indemnity agreement, requiring the contractor or subcontractor to indemnify and defend the Indemnified Parties pursuant 10-19Concord - Document ID: generated after first signature the terms set forth above. CONSULTANT shall indemnify the Indemnified Parties, and save it harmless from any and all loss, damage, costs, expenses and attorney's fees suffered or incurred on account of any breach of the aforesaid obligations and covenants, and any other provision or covenant of this agreement. 11 INSURANCE
11.1 CONSULTANT, at its expense, shall maintain in effect at all times during the performance of work under this Contract not less than the following coverage and limits of insurance, which shall be maintained with insurers listed “A” or better in the Best’s Insurance Guide and authorized to do business in the State of California.
Proof of Insurance, as identified in Section 11.8, must be reviewed and accepted by the City Attorney.
11.1.1 Workers’ Compensation and Employer’s Liability
Workers’ Compensation—coverage as required by the State of California Employer’s Liability:
$1,000,000.00 each accident
$1,000,000.00 policy limit bodily injury
$1,000,000.00 each employee bodily injury by disease
11.1.2 Professional Liability (Errors & Omissions) Insurance* $1,000,000 limit on a per occurrence basis
11.1.3 Commercial General Liability
$1,000,000.00 limit on a per occurrence basis
$2,000,000.00 general aggregate limit
11.1.4 Commercial Automobile Liability
$1,000,000.00 combined single limit including owned, non-owned and hired automobile coverage
11.2 All of CONSULTANT’s policies shall contain an endorsement providing that written notice shall be given to CITY at least thirty- (30) calendar days prior to cancellation of the policy.
11.3 Policies providing for bodily injury and property damage coverage shall contain the following:
A. An endorsement extending coverage to the City as an additional insured, in the same manner as the named insured, as respects liability arising out of the performance of any work under the Contract. Such insurance shall be primary insurance, as respects the interest of the City, and any other insurance maintained by the City shall be considered excess coverage and not contributing insurance with the insurance required hereunder. The certificate and endorsements shall state: “The City of Palmdale, the Successor Agency of the Community Redevelopment Agency of the City of Palmdale, Palmdale 11-19Concord - Document ID: generated after first signature Civic Authority, Industrial Development Authority of the City of Palmdale, Palmdale Airport Authority, their officers, agents, employees and volunteers are named as additional insured’s.”
B. “Severability of Interest” clause.
11.4 Promptly on execution of this Contract, and prior to commencement of any work, CONSULTANT shall deliver to CITY certificates of insurance and endorsements to all required policies demonstrating that CONSULTANT has the required coverage and showing the required named insureds. Within five (5) days of written request from CITY, CONSULTANT shall deliver to CITY full and complete copies of all insurance endorsements required by this Contract.
11.5 The requirements as to the types and limits of insurance to be maintained by CONSULTANT are not intended to and shall not in any manner limit or qualify CONSULTANT’s liabilities and obligations under this Contract.
11.6 Any policy or policies of insurance that CONSULTANT elects to carry as insurance against loss or damage to its equipment and tools or other personal property used in the performance of this Contract shall include a provision waiving the insurer’s right of subrogation against CITY.
11.7 All insurance coverage must be maintained throughout the duration of this Contract.
11.8 Acceptable Proof of Insurance:
11.8.1 ACORD Certificate of Insurance listing all coverages, limits, deductibles and insureds; and endorsements for all applicable coverages if agent has authority to issue it; Additional insured Form CG20101219 and CG20371219 equivalent must be provided for general liability coverage.
Additional insured form CA0001 must be provided for automobile liability coverage.
11.8.2 Agents must confirm that policy endorsements have been ordered from the respective insurance companies. Upon issuance, policy endorsements listing all insurers must be submitted to the City Attorney.
11.8.3 *When professional (E&O) liability coverage is provided on a “claims made basis”, CONSULTANT will continue to renew the insurance for a period of five (5) years after this Agreement expires or is terminated. Such insurance will have the same coverage and limits as the policy that was in effect during the term of this Agreement, and will cover CONSULTANT, or its officers, employees, or agents during the time this Agreement was in effect.
11.9 Notwithstanding any other provision of this Contract, CITY may immediately terminate this Contract if, at any time CONSULTANT fails to maintain the required 12-19Concord - Document ID: generated after first signature insurance for any period of time or fails to comply with any of the insurance requirements listed above.
11.10 CONSULTANT shall require any and all subcontractor's working on its behalf to provide insurance coverages and limits that are based on the scope of work and nature of risk being performed by the subcontractor. Any and all subcontractors working on behalf of CONSULTANT shall be subject to all other insurance requirements that are stated herein.
Any deviation in this requirement will be CONSULTANT's sole risk. CONSULTANT's insurance requirements in Section 11 will not be impacted and/or limited by such deviation.
12 TERMINATION WITHOUT CAUSE
CITY reserves the right to terminate this Contract or any part thereof for its sole convenience with thirty (30) days written notice. In the event of such termination, CONSULTANT shall immediately stop all work hereunder, and shall immediately cause any of its suppliers and sub-consultants to cease such work. CONSULTANT shall also surrender to CITY all finished or unfinished documents or programs and other materials, which shall be City’s property. As compensation in full for services performed to the date of such termination, the CONSULTANT shall receive an amount equal to the value of the work completed as of the termination date in accordance with the fee schedule or as negotiated between the parties. In no event shall the amount payable upon termination exceed the total maximum compensation provided for in this Contract.
13 TERMINATION FOR CAUSE
13.1 If the City determines that the CONSULTANT has failed to supply an adequate working force, or to provide services of proper quality, or has failed in any other respect to satisfactorily perform the services specified in this Contract, the City shall give written notice to the CONSULTANT specifying all defaults to be remedied within thirty (30) days. Such notice shall set forth the basis for the City’s dissatisfaction and suggest corrective measures. If, after thirty days, the CONSULTANT has failed to implement the corrective measures, the City may elect to terminate this Contract, in whole or in part.
13.2 In the event the City terminates this Contract in whole or in part as provided herein above, the City may procure, upon such terms and in such manner, as it may deem appropriate, services similar to those terminated.
13.3 If this Contract is terminated as provided above, the City may require the CONSULTANT to provide all finished or unfinished documents, data, studies, software, drawings, maps, photographs, reports, etc., prepared by the CONSULTANT. Upon such termination, the CONSULTANT shall be paid an amount equal to the value of the services provided and work performed as of the date of 13-19Concord - Document ID: generated after first signature termination. Such payment by the City may take into consideration the costs associated with hiring another CONSULTANT to complete the services. In the event no new CONSULTANT is employed, the CONSULTANT shall be paid an amount equal to the value of the work performed. In ascertaining the value of the work performed up to the date of termination, consideration shall be given to both completed work and work in progress, to complete and incomplete documents when such are delivered to CITY, and to authorized reimbursement expenses.
The above is in addition to any other remedies available by law or equity to the City.
13.4 If, after notice of termination of the Contract under the provisions of this Section 13, it is determined, for any reason, that CONSULTANT was not in default, or that the default was excusable, then the rights and obligations of the parties shall be the same as if the notice of termination had been issued pursuant to Section 12. 14 DISPUTE RESOLUTION
All claims, disputes, and other matters in question between CITY and CONSULTANT arising out of, or relating to this Contract, or the breach thereof shall, to the extent reasonably feasible, be resolved through good faith negotiations between the parties. 15 OWNERSHIP OF DOCUMENTS
All documents, including, but not limited to, research, field notes, investigations, analysis, and studies which are prepared in the performance of this Contract are to be, and remain the property of CITY. CONSULTANT shall furnish CITY, upon its request, originals or reproducible or electronic copies of reports, studies and of all other documents listed above.
16 SUBCONTRACTING, DELEGATION AND ASSIGNMENT
16.1 CONSULTANT shall not delegate, subcontract or assign its duties or rights hereunder, either in whole or in part, without the prior written consent of CITY; provided, however, that claims for money due or to become due to CONSULTANT from CITY under this Contract may be assigned to a bank, trust company or other financial institution without such approval. Any proposed delegation, assignment or subcontract shall provide a description of the services covered, identification of the proposed assignee, delegates or subcontractor, and an explanation of why and how the same was selected, including the degree of competition involved. Any proposed agreement with an assignee, delegates or subcontractor shall include the following:
A. The amount involved, together with CONSULTANT’s analysis of such cost or price; and
B. A provision requiring that any subsequent modification or amendment shall be subject to the prior written consent of CITY.
14-19Concord - Document ID: generated after first signature C. The requirement to hire only those persons authorized by federal law to work in the United States.
16.2 Any assignment, delegation or subcontract shall be made in the name of CONSULTANT and shall not bind or purport to bind CITY and shall not release CONSULTANT from any obligations under this Contract including, but not limited to, the duty to properly supervise and coordinate the work of employees, assignees, delegates and subcontractors. No such assignment, delegation or subcontract shall result in any increase in the amount of total compensation payable to CONSULTANT under this Contract.
17 NON-DISCRIMINATION AND EQUAL EMPLOYMENT OPPORTUNITY
17.1 In performance of this Contract, CONSULTANT shall not discriminate against any employee, subcontractor, or applicant for employment because of sex, color, race, religion, ancestry, national origin, disability, medical condition, marital status, sexual orientation, or age. CONSULTANT will take affirmative action to ensure that applicants are employed, and that employees are treated during employment, without regard to their sex, color, race, religion, ancestry, national origin, disability, medical condition, marital status, sexual orientation or age. Affirmative action relating to employment shall include, but not be limited to the following: employment, upgrading, demotion or transfer; recruitment; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship.
17.2 The provisions of subsection 17.1 above shall be included in all solicitations or advertisements placed by or on behalf of CONSULTANT for personnel to perform any services under this Contract. CITY shall have access to all documents, data and records of CONSULTANT and its subcontractors for purposes of determining compliance with the equal employment opportunity and non-discrimination provisions of this Section, and all applicable provisions of Executive Order No. 11246 which is incorporated herein by this reference. A copy of Executive Order No. 11246 is available for inspection at, and on file with, the Palmdale City Clerk’s Office. 18 FINANCIAL INTEREST CERTIFICATION
18.1 CONSULTANT warrants that no person has been employed or retained to solicit or secure this Contract upon an agreement or understanding for a commission, percentage, brokerage or contingent fee; and that no officer or employee of the CITY has any interest, financially or otherwise, in CONSULTANT’s firm.
18.2 For breach or violation of this warranty, CITY shall have the right to annul this Contract without liability, or at its discretion to deduct from the Contract Price or consideration, the full amount of such commission, percentage, brokerage or contingent fee.
19 CONFLICT OF INTEREST
15-19Concord - Document ID: generated after first signature
19.1 CONSULTANT stipulates that its officers and employees do not now have a conflict of interest and it further agrees for itself, its officers and its employees that it will not contract for or accept employment for the performance of any work or services with any individual business, corporation or government unit that would create a conflict of interest in the performance of its obligations pursuant to this Contract or which would cause CONSULTANT to be “financial interested” (as provided in California Government Code Section 1090 et seq. or 87100 et seq.) in any contract or decision made by CITY on any matter.
19.2 CONSULTANT shall not employ any City official or employee to perform any work required pursuant to this Contract.
19.3 If CONSULTANT is a registered professional engineer or licensed land surveyor and the scope of work requires CONSULTANT’S recommendation of the actual formula to spread the costs of an assessment district’s improvements, then CONSULTANT shall not participate in making that recommendation if the additional elements set forth in Government Code section 87100.1(c) apply. Those additional elements are: (1) CONSULTANT has received income of $250 or more for professional services in connection with any parcel included in the benefit assessment district within 12 months prior to the creation of the district; and (2) the district includes other parcels in addition to those parcels for which CONSULTANT received the income. In the event a conflict of interest does arise in that context, City shall select a different CONSULTANT to recommend the actual formula to spread the costs of the assessment district’s improvements and the costs of such services shall be deducted from the compensation to be paid to CONSULTANT.
19.4 To the extent required by the City Manager/designee, CONSULTANT shall complete and file with the City Clerk a Form 700 Statement of Economic Interests disclosing any reportable property interests, income, gifts, investments, or business positions.
20 COMPLIANCE WITH LAW
20.1 CONSULTANT shall comply with all state and federal laws, including but not limited to, the requirement to hire only those persons authorized by federal law to work in the United States. If CONSULTANT uses any subcontractors to complete this Contract, this same requirement shall be included in all subcontracts and strictly enforced by CONSULTANT.
20.2 The law of the state of California shall govern this Contract. The venue of any legal action, either formal or informal, shall be the County of Los Angeles. 21 NOTICES
Any notice required under this Contract shall be in writing, addressed to the appropriate party at its address on the signature page and given personally or by 16-19Concord - Document ID: generated after first signature registered or certified mail postage prepaid, or by a commercial courier service. All notices shall be effective upon the date of receipt.
22 ENTIRE CONTRACT AND AMENDMENTS
22.1 This Contract is the complete agreement between the parties and supersedes all prior proposals, agreements, and understandings between the parties and may not be modified or terminated orally.
22.2 No attempted waiver of any of the provisions hereof, nor any modification in the nature, extent or duration of the work to be performed by CONSULTANT hereunder, shall be binding unless in writing and signed by the party against whom the same is sought to be enforced.
22.3 The failure of any party to enforce against another party any provision of this Contract shall not constitute a waiver of that party’s right to enforce such a provision at a later time, and shall not serve to vary the terms of this Contract.
22.4 Notwithstanding any term in the Contract to the contrary, Consultant shall retain all right, title, and interest in any and all intellectual property: (i) created by Consultant prior to this Contract, including (without limitation) Consultant proprietary software programs and processes for providing services and (ii) created by Consultant during the term of the Contract in the normal course of business for Consultant’s clients generally. Upon City request, at Contract completion Consultant will provide, in a format readable by software not proprietary to Consultant, all City computer data and information that Consultant created under the Contract.
22.5 CONSEQUENTIAL DAMAGES. Except to the extent of each party’s obligations pertaining to indemnification and protection of confidential information, neither party shall be liable, under any circumstances for any anticipatory or lost profit, special, consequential, punitive, exemplary, incidental or indirect damages of any kind (collectively “non-direct damages”) resulting from its performance or non-performance of its obligations under the Contract even if such non-direct damages are attributed to breach of the contract, tort or negligence or otherwise caused; such party has been advised of the possibility of such non-direct damages; or under applicable law, any such non-direct damages are considered direct damages.
17-19Concord - Document ID: generated after first signature
23 ATTORNEY’S FEES
If any action at law or in equity is brought to enforce or interpret any provisions of this Contract, the prevailing party in such action shall be entitled to reasonable attorney’s fees, costs and necessary disbursements, in addition to such other relief as may be sought and awarded.
In Witness Whereof, the parties hereto have caused this Contract to be executed and attested by their respective officers thereunto duly authorized.
CITY OF PALMDALE: JONES LANG LASALLE AMERICAS,
INC.:
Ronda Perez
City Manager
Josephine Tucker
Managing Director
ADDRESS FOR NOTICE:
CITY OF PALMDALE
38300 Sierra Hwy, Suite A
Palmdale, CA 93550
ADDRESS FOR NOTICE:
JONES LANG LASALLE AMERICAS,
INC.
515 South Flower Street, Suite 1300
Los Angeles, CA 90071
APPROVE AS TO FORM:
William P. Curley, III
City Attorney
ATTEST:
Roxanne Faber
Acting City Clerk
---------------------------------------- INTERNAL USE ONLY ---------------------------------------- 18-19Concord - Document ID: generated after first signature
□Certificate(s) and Endorsement(s) attached
□Confirmed business name on contract with certificate(s) □Attached Agreement Checklist and met all requirements
19-19Concord - Document ID: generated after first signature Attachment 1
Ownership Type Ownership Role Benefits Key
Considerations
City own, operate,
and maintain (i.e.,
Customer Owned)
City purchases infrastructure
using capital funds and is
responsible for operating
and maintaining
infrastructure.
Minimal contracted
maintenance costs.
Is the City able to
perform operations
and maintenance
on new
infrastructure?
Ability to generate
revenue via vehicle
to grid technology,
net metering,
ancillary services,
etc.
Lower life-cycle
cost.
Public Private
Partnership (i.e.,
site host)
Combines public sector
dollars with private
investment and operational
knowledge in mix of
infrastructure ownership,
operation, and maintenance
between City and
counterparty.
City can explore
use of Federal,
State, and/or local
grants or incentives
to contribute to
project equity.
Important to
explore City
operational and
maintenance
capabilities.
City negotiates monthly fee
commensurate with the
equity provided in the
partnership.
Relies on private
partner to assume
risk and
responsibility for
installing and
maintaining EV
charging stations.
Ensure proper risk
transfer to the
counterparty.
Third-party own,
operate, maintain
(i.e.,
charging/energy-
as-a-service)
Third party finances,
deploys, owns, operates,
and maintains the charging
infrastructure, including
grant administration.
Transfers risk and
cost of planning,
construction,
ownership,
maintenance,
repair, and
upgrades to a third
party.
Contract
governance critical
to effective
management.
City pays monthly fee for all-
inclusive charging-as-a-
service. Supplier can
transfer Vehicle-to-Grid
revenue to City.
Preserves City
capital for other
projects.
Proper risk transfer
Contract structure
that allows
operational
flexibility and
technology
upgrades.
Attachment 2
Compensation Schedule
Action Item Budget
Project Management
a. High-Level Vehicle Conversion Review
b. Filing for Postponement
c. Capacity Review
d. Technology Review
e. Needs Assessment and Gap Analysis
f. Financing Mechanisms and Strategies
g. Future Staffing Needs [Optional Scope]
h. Phased Master Plan
Total Base
Proposed Hours
60 137
20 90
30 120
100
81 42
599
$ 16,000
$ 38,000
$ 5,000
$ 22,000
$ 8,000
$ 28,000
$ 23,000
$ 21,000
$ 10,000
$ 150,000
Reimbursable Travel Ceiling: $20,000
Travel shall be invoiced on a reimbursable basis to the City and is not included in the overall fixed fee for completion of the Scope of Services/Work. Consultant will support project kick-off and a one -day site visit within the $150,000 budget ceiling. Consultant anticipates up to $5,000 in travel costs associated with the initial site visit and will submit for reimbursement – pending funding availability from the City. If additional travel beyond the initial site visit is required to complete the project, Consultant will confirm availability of funds for reimbursement prior to booking travel.
Labor categories that comprise the overall fixed fee for completion of the Scope of Services/Work are as follows:
POSITION RATE/HOUR
Senior Vice President $400
Vice President $300
Senior Associate $250
Associate $200
In alignment with Scope of Work, Consultant will price Future Microgrid Studies on an as needed based once the details of the proposed Scope of Work is determined by the City.
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: CITY MANAGER DEPARTMENT
LEGISLATIVE AFFAIRS DIVISION
DISTRICT: ALL
SUBJECT: APPROVAL OF THE CITY’S 2024 STATE AND FEDERAL
LEGISLATIVE PLATFORM TO PROMOTE PALMDALE’S
PRIORITIES AND LEGISLATIVE INITIATIVES
RECOMMENDATION
Staff recommends that the City Council approve the City’s 2024 State and Federal Legislative Platform (Legislative Platform) to promote Palmdale’s legislative priorities.
BACKGROUND
Active legislative engagement is necessary to protect and enhance the interests of Palmdale’s residents and businesses. The City Council has identified the importance of having an approved and current Legislative Platform to improve the organization’s legislative efficiency and effectiveness. The City Council last approved the City’s Legislative Platform on February 5, 2019.
DISCUSSION
Approving an updated Legislative Platform provides th e framework to continue addressing the fundamental issues deemed by the City Council as imperative to the City and community while delivering a proactive approach to deal with the rapidly changing nature of state and federal legislative and policy issues . The development of the Legislative Platform allows for aguiding blueprint to engage in proactive advocacy efforts at the state and federal levels. The Legislative Platform will form a cornerstone of the City’s advocacy and legislative priorities in four strategic areas that staff will utilize to advance City initiatives: Building Culture & Community, Economic Vitality & Innovation, Social Unity, and Transportation & Infrastructure.
City staff works collaboratively with the City’s contracted state lobbying firm, Gonsalves & Son, and federal lobbying firms,Lincoln Park Group, LLC and Townsend Public Affairs, Cal Cities (formerly League of California Cities) , and the California Contract Cities Association (CCCA) to monitor and track legislation impacting local governments. These advocacy teams work with the City and lawmakers to sponsor, draft, and support Report to Mayor and City Council
Re: 2023 State and Federal Legislative Platform
February 7, 2024
legislative and regulatory measures that encourage local control, lobby against policies that threaten it, and provide the City with a louder voice than we would achieve alone.
While serving as a work plan for City staff, the Legislative Platform will remain flexible and can be revised and improved upon as needed. It will be reviewed annually in preparation for the following year in response to changing needs and opportunities related to the state and federal legislative and regulatory environment.
The State and Federal Legislative Platform will be posted on the City’s website upon the City Council's approval.
FISCAL IMPACT
Adopting the State and Federal Legislative Platform has no direct fiscal impact on the City.
STRATEGIC PLAN
Goal II: Ensure long-term fiscal health of the City and maintain funding for services.
D. Pursue alternative financing opportunities for continued infrastructure improvements and quality community programs.
Prepared by: Terrie Zayas, City Council Chief of Staff
Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney
ATTACHMENTS
2024 State and Federal Legislative Platform
2024 LEGISLATIVE PLATFORM
A REGIONAL STRATEGY TO PROMOTE PALMDALE’S B.E.S.T.
LEGISLATIVE PRIORITIES: BUILDING CULTURE & COMMUNITY,
ECONOMIC VITALITY & INNOVATION, SOCIAL UNITY AND
TRANSPORTATION & INFRASTRUCTURE
TABLE OF CONTENTS
PALMDALE CITY COUNCIL ......................................................................................................1 INTRODUCTION ........................................................................................................................2 BUILDING CULTURE & COMMUNITY ......................................................................................3 ECONOMIC VITALITY & INNOVATION.....................................................................................5 SOCIAL UNITY...........................................................................................................................7 TRANSPORTATION & INFRASTRUCTURE .............................................................................9 PALMDALE FACTS..................................................................................................................11 LEGISLATIVE REPRESENTATIVES ................................................................................. 12-14 CITY MAPS ........................................................................................................................ 15-17 1 PALMDALE CITY COUNCIL
Richard Loa
Mayor Pro Tem
District 2
Laura Bettencourt
Councilmember
District 3
Eric Ohlsen
Councilmember
District 4
Andrea Alarcón
Councilmember
District 5
Austin Bishop
Mayor
District 1
2 INTRODUCTION
The Legislative Platform for the City of Palmdale was developed utilizing the City Council’s goals and priorities, which apply to legislative priorities at both State and Federal levels of government. These legislative priorities fall under the Council’s four strategic focus priority areas that the City will work to advance in 2024 and beyond: Building Culture & Community, Economic Vitality & Innovation, Social Unity and Transportation & Infrastructure.
The City strongly promotes local control of cities. It will support or oppose legislation based on whether it impacts local control over City revenues, land use, community development, and other municipal actions.
This document describes focus areas; however, due to the vigorous nature of the policy- making process, additional issues are likely to arise throughout the legislative session. The overarching principles in this Legislative Platform shall guide and direct staff as these different issues require action. Any policy issues not addressed in this platform will be communicated to the City Council for consideration before the City acts on that item. 3 BUILDING CULTURE & COMMUNITY
The City of Palmdale seeks resources and tools to promote the safety of our residents, uplift community pride through beautification programs and elevate the community’s preparedness and resiliency.
WE SUPPORT
Beautification, Public Appearance and Environmental Health Support all legislation that furthers the expansion and development of tools and programs to deter crimes of vandalism, graffiti and illegal dumping, and investment in the aesthetics and physical environment of the City, including but not limited to Landscape Maintenance Districts (LMDs), trees, hardscapes and public art.
Public Safety
Work with federal, state, county, and regional agencies to further legislation intended to facilitate public safety; to support funding through grants and other opportunities to enhance community-oriented policing policies and programs in the City aimed at reducing crime and increasing social trust; and support the development of programs that enhance relationship-building between law enforcement and Palmdale youth.
Emergency Preparedness
Support federal and state legislation providing funding through grants and other opportunities for emergency operations, hazard mitigation, and emergency response and recovery from natural and unnatural disasters.
Housing Improvement and Availability Program
Support legislation that promotes, enhances, and funds the development of programs to encourage and assist in maintaining quality housing standards and availability to all.
Likewise, oppose all measures that limit, impair, or dilute the City’s ability to address these issues.
Housing and Land Use Development
Support legislation that allows the City to have local control to address the community's broadest and least regulated economic, land use, environmental, and permitting needs while expanding opportunities to build affordable housing and transit-oriented developments.
4 WE OPPOSE
Efforts to reprioritize public safety funding and programs Oppose efforts to reprioritize public safety funding and programs without proper procedural or stakeholder engagement and measures that would decrease public safety services or increase crime.
Loss of local control
Oppose state initiatives that would remove local control, allow for irresponsible housing development in Palmdale and its spheres of influence, and interfere with protecting residential neighborhoods.
Unrealistic Timeframes
Oppose new legislation and mandates for unrealistic processing timeframes or conditions that impede housing for larger housing development projects.
Imposition of Regulatory or Statutory Requirements
Oppose legislation that affects and impairs the administration of parks and recreation services and resources management, including the sale of parklands and open space and relaxations of park dedication fee requirements that provide no added protections or benefits to California’s recreational consumer.
Oppose any action in opposition to issues the City supports. 5 ECONOMIC VITALITY & INNOVATION
The City of Palmdale supports activities and opportunities that will help develop a skilled workforce and grow the local economy through innovative programs and incentives, including expanding the film and industrial/manufacturing industries in the local region.
WE SUPPORT
Local Jobs
Legislation that assists and creates comprehensive economic development strategies to create local jobs, including mortgage-paying jobs, by targeting growing industries, including film, healthcare, manufacturing, industrial and warehousing, and technology testing facilities.
Workforce Development
Support legislation that supports funding and initiatives that encourage and support the growth of workforce development, skill development, and training opportunities in the City and region.
Support legislation that expands workforce development programs that encourage diversity in business industries serving Palmdale.
Small Business Development
Seek and support legislation that promotes financial support through grants and other funding opportunities to support and educate small businesses.
Economic Development Investment Incentive Programs
Advocate for legislation that expands resources that modernizes existing economic development programs, including Enhanced Infrastructure Financing Districts (EIFD).
Film & Tourism
Support and initiate legislation to enhance the economy and create jobs in all creative industries, especially film and tourism opportunities.
Exploring New Industries
Advocate for legislation that proposes and enhances programs and funding to create jobs and develop a workforce in high-tech innovation and green technology industries. 6 WE OPPOSE
By-right legislation
Oppose legislation that limits the City’s discretionary review processes for local development projects or economic development opportunities. Oppose legislation that interferes, limits, or eliminates the decision-making authority of local municipalities regarding local land use or economic development opportunities.
Unfunded Mandates
Oppose the imposition of unfunded or less-than-funded mandates on local governments, regardless of the form, source, or policy, including administrative, legislative, and interpretive sources, regardless of the governmental or other source. 7 SOCIAL UNITY
The City of Palmdale seeks funding and supports opportunities to maximize sustainability initiatives that address connectivity, homelessness and mental health, public accessibility, and environmental sustainability.
WE SUPPORT
Broadband
Support legislation supporting funding to advance Broadband City-wide to all residents regardless of income status.
Environmental Sustainability
Support legislation supporting funding for clean transportation, net zero energy use in future construction projects, and a localized organics treatment facility.
Housing
Support legislation supporting increased funding through administrative and housing programs that create diverse housing options in Palmdale, including affordable, veterans, low-income, senior, and workforce housing.
SAVES Program
Advocate for legislation funding resources for the South Antelope Valley Emergency Services (SAVES) program.
Homelessness and Mental Health
Support legislation enhancing regional and City-driven solutions to address homelessness through crisis response, mental health evaluation and treatment, housing, homeless outreach teams, and state and regional funding for mental health crisis units. Support legislation providing for the expansion of conservatorship laws, allowing for increased guardianship control and health supervision of those with mental illness and recognizing mental illness and addiction as a contributor to chronic homelessness.
Domestic Violence Programs
Support legislation providing funding through grants and other opportunities to address domestic violence issues, including funding for the development of shelter and program services.
8 Illegal Drug Prevention and Treatment
Support legislation funding programs targeting the education, prevention, and treatment of the use of illegal drugs and legal drug misuse.
Public Accessibility
Support legislation funding through grants and other opportunities that enhance public facilities and programs, including recreational trails, parks, libraries, and museums, to make them accessible to all populations.
WE OPPOSE
Regional Housing Need Assessment (RHNA) Mandate
Oppose legislation that proposes to change the Regional Housing Need Assessment (RHNA) from a planning process to a production requirement. Oppose legislation that penalizes a city or local government if identifiable RHNA units are not constructed or are delayed by actions of third parties. 9 TRANSPORTATION & INFRASTRUCTURE
Palmdale seeks funding and opportunities to promote the transformation of transit, water, and technological advancements in our community.
WE SUPPORT
High Desert Corridor Alignment
Support the implementation and construction of the High Desert Corridor Alignment project and support or initiate legislation to advance the same.
Palmdale Airport Development
Vigorously support the mission of Air Force Plant 42 while concurrently working with local, state, and federal agencies to bring commercial passenger air service to the Palmdale Airport.
Recycled Water Infrastructure
Support the development of recycled water infrastructure throughout the City and initiate legislation to further the same.
Technology Infrastructure
Support legislation and policies oriented toward advancing and constructing technology infrastructure throughout the City, including broadband and wireless communications that support Smart Cities initiatives.
Support or initiate legislation and policies furthering local oversight and control of technology placement and franchises.
Palmdale Boulevard
Support legislation and administrative efforts that seek funding for the acquisition of Palmdale Boulevard from CalTrans.
Avenue M Grade Separation
Support legislation and administrative efforts that seek funding for the Avenue M Grade Separation project.
10 Rancho Vista Grade Separation
Support legislation and administrative efforts that seek funding for the Rancho Vista Grade Separation project and advocate for partnership with the Federal Railroad Administration to implement the project.
Hydrogen Infrastructure
Support infrastructure legislation and funding opportunities for investments in green energy projects, including hydrogen refueling infrastructure, to decrease the City’s carbon footprint while not being destructive to small businesses and the local economy.
Rail Infrastructure
Support expansion and construction of high-speed rail infrastructure, including the California High-Speed Rail project and Brightline, and develop a strategy to prepare the local economy for project deployment.
WE OPPOSE
Regulation of Wireless Facilities
Oppose any legislation or regulatory policy that limits local discretion to regulate wireless facilities, cellular communications towers, transmission sites, or other infrastructure. Oppose any legislation or administrative policy that opposes any City goal, initiative, or policy.
11 PALMDALE FACTS
Incorporated ......................................................................................................August 24, 1962 Charter ........................................................................................................... November 3, 2009 Form of Government .......................................................................... City Council-City Manager County ..................................................................................................................... Los Angeles Weather ........................................................................................................Average High 81 °F Average Low 48°F
Elevation .........................................................................................................................2,657 ft.
DID YOU KNOW?
Palmdale was voted one of California’s Safest Cities. Palmdale received the 2021 EDDY Award for being L.A. County’s most business-friendly City for the 2nd time!
“The Terminal” starring Tom Hanks and “Pirates of the Caribbean” starring Johnny Depp were filmed at Palmdale Plant 42.
All five space shuttles were built in Palmdale.
12 FEDERAL LEGISLATIVE REPRESENTATIVES
UNITED STATES PRESIDENT & VICE PRESIDENT
Honorable Joseph R. Biden
Honorable Vice President Kamala Harris
Address: The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
Comments: 202/456-1111
Fax: 202/456-2461
UNITED STATES SENATORS – CALIFORNIA
Honorable Laphonza Butler
DC Office Local Office
Address: 331 Hart Senate Office Bldg. 11111 Santa Monica Blvd.
Washington, DC 20510 Los Angeles, CA 90025
Phone: 202/224-3841 310/914-7300
Fax: 202/228-3954 310/914-7318
Honorable Alex Padilla
DC Office Local Office
Address: 912 Hart Senate Office Bldg. 225 E. Temple St., Suite 1860 Washington, DC 20510 Los Angeles, CA 90012
Phone: 202/224-3553 310/231-4494
Fax: 202/224-2200 202/224-0357
UNITED STATES CONGRESS – CALIFORNIA
Honorable Mike Garcia – 27th District
DC Office Local Office
Address: 144 Cannon House Office Bldg. 1043 West Avenue M-4 Washington, DC 20515 Lancaster, CA 93551
Phone: 202/225-1956 661/839-0532
13 STATE LEGISLATIVE REPRESENTATIVES
GOVERNOR – STATE OF CALIFORNIA
Honorable Gavin Newsom Honorable Lt. Governor Eleni Kounalakis Capitol Building Capitol Building
Address: 1303 10th Street, Suite 1173 1303 10th Street, Suite 1114 Sacramento, CA 95184 Sacramento, CA 95814
Phone: 916/445-2841 916/445-8994
Fax: 916/558-3160
CALIFORNIA STATE SENATOR
Honorable Scott Wilk – 21st District
Capitol Office Antelope Valley Office
Address: 1021 O Street, Room 7140 848 W Lancaster Blvd.
Sacramento, CA 95814 Lancaster, CA 93534
Phone: 916/651-4021 661/729-6232
Fax: 916/651-4921 661/286-2543
CALIFORNIA STATE ASSEMBLY
Honorable Tom Lackey – 34th District
Capitol Office Antelope Valley Office
Address: P.O. Box 942849 41301 12th St. West, Ste. F
Sacramento, CA 94249 Palmdale, CA 93551
Phone: 916/319-2034 661/267-7636
Honorable Juan Carrillo – 39th District
Capitol Office Antelope Valley Office
Address: P.O. Box 942849 823 East Ave. Q-9, Suite A
Sacramento, CA 94249 Palmdale, CA 93550
Phone: 916/319-2039 661/266-3908
Fax: 916/319-2139 661/266-3931
14 COUNTY REPRESENTATIVE
BOARD OF SUPERVISORS – LOS ANGELES COUNTY
Honorable Kathryn Barger – 5th District
Downtown Office Antelope Valley Office
Address: 500 W. Temple St., Room 869 42455 10th St. West, Suite 104 Los Angeles, CA 90012 Lancaster, CA 93534
Phone: 213/974-5555 661/726-3600
Fax: 213/974-1010
15 MAP OF THE CITY OF PALMDALE
16 DISTRICT MAP
17 REGIONAL MAP
CC Minutes – January 24, 2024 – 5pm 1
MINUTES
CITY COUNCIL/HOUSING AUTHORITY
CITY HALL COUNCIL CHAMBER
38300 SIERRA HIGHWAY, SUITE B
PALMDALE, CALIFORNIA
JANUARY 24, 2024
www.cityofpalmdale.org
1) CALL MEETING TO ORDER
Mayor Bishop called the meeting to order at 5:00 pm.
Note: All City Council memberships are reflected in their City Council titles.
2) ROLL CALL MAYOR BISHOP, MAYOR PRO TEM LOA, COUNCILMEMBERS OHLSEN, BETTENCOURT, ALARCÓN COMMISSIONERS FRAGA-SAENZ, BETTS
PRESENT: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón, Christina Fraga-Saenz, Dianne Betts.
ABSENT: None.
3) PLEDGE OF ALLEGIANCE AND MOMENT OF SILENCE
4) PUBLIC COMMENTS
CONSENT CALENDAR(S), APPOINTMENT(S), NEW BUSINESS, AND CLOSED SESSION:
None.
5) HOUSING AUTHORITY CONSENT CALENDAR
5.1) Approve the termination of Affordable Housing Agreement with Ninth Patriot, LLC and Housing Authority Development loan of $900,000 for development located at 9th Street East and East Avenues Q11 and Q12 (APN 3009-018- 009 through 016).
5.2) Award Information for Bid (IFB) No. 23-001-3610 for Professional Arboricultural Services and approve Agreement with The New Tip Top Arborists, Inc., in an amount not to exceed $500,000 over a 54-month term.
5.3) Approve the minutes from the previous meetings.
December 6, 2023
Motion: Approve all items listed under the Housing Authority Calendar.
Moved by Richard J. Loa, seconded by Christina Fraga-Saenz.
CC Minutes – January 24, 2024 – 5pm 2
Vote: Motion carried (7-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón, Christina Fraga-Saenz, Dianne Betts.
Mayor Bishop adjourned the Housing Authority meeting at 5:07 pm.
6) CONSENT CALENDAR
6.1) Waive full reading of the Resolution(s) and/or Ordinance(s) to be considered and voted on at this meeting. (This allows for reading the title only in lieu of reciting the entire text).
6.2) Adopt Resolution No. CC 2024-009, a Resolution of the City Council of the City of Palmdale stating the City’s Investment Policy and repealing Resolution No.
CC 2023-006, and Adopt Resolution No. CC 2024-010, a Resolution of the City Council of the City of Palmdale stating the Investment Policy for the City contributions to the Retiree Health Reimbursement Arrangement (HRA) Plan and the Retiree Health Premium Supplement (HPS) Plan and repealing Resolution No. CC 2023-007.
6.3) Approve Memorandum of Understanding by and between the City of Palmdale, County of Los Angeles and Los Angeles County Metropolitan Transportation Authority for the cooperation, collaboration, and negotiation of joint responsibilities to establish the Center for Transportation Technology Excellence.
Councilmember Alarcón pulled this item for discussion.
Director of Economic and Community Development Garibay provided a report on this item.
Councilmember Alarcón provided the background on the project and recognized the efforts of Supervisor Barger.
Mayor Bishop stated it is extremely beneficial to the entire region.
Councilmember Ohlsen spoke regarding the Center for Transportation Technology Excellence.
Mayor Pro Tem Loa stated it was a united effort and many levels of government worked together.
Motion: Approve Memorandum of Understanding A-8676 with City of Palmdale, County of Los Angeles, and Los Angeles County Metropolitan Transportation Authority to establish the Center for Transportation Technology Excellence.
Moved by Andrea Alarcón, seconded by Richard J. Loa.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
CC Minutes – January 24, 2024 – 5pm 3
6.4) Accept a Department of Resources Recycling and Recovery (CALRECYCLE) grant for the replacement of 11 or more drinking fountains with dual bottle- filling drinking stations located at various City parks in the amount of $92,183.
6.5) Approve Agreement with Samsara, Inc., utilizing Sourcewell Cooperative Contract, for web-based fleet telematics software and equipment in an amount not to exceed $300,000 over a 5 year contract.
6.6) Award Construction Agreement with R.C. Becker and Son, Inc. for PN 741, Avenue S-8 and 40th Street East Roundabout Project, for $3,545,778 for a term of 150 working days from the Date of the Notice to Proceed.
6.7) Approve Second Amendment to Agreement with MNS Engineers, Inc. for PN 761, Civic Center Complete Streets Project, for $168,435, bringing the total cost to $267,905, for continued public works construction inspection services.
6.8) Approve First Amendment to Agreement with MNS Engineers, Inc., for Public Works Construction Inspection Services for PN 780, Avenue Q -12 Sidewalk Gap Closure Project, for an increase of $42,480, total agreement amount not to exceed $107,480, for a term of ninety (90) calendar days from receipt of Authorization to Proceed.
6.9) Approve the minutes from the previous meetings.
CC/SA - January 10, 2024
Motion: Approve all items listed under the Consent Calendar except 6.3.
Moved by Richard J. Loa, seconded by Laura Bettencourt.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
7) PUBLIC HEARING
7.1) Introduction and adoption of Ordinance No. 1612, an Ordinance of the City Council of the City of Palmdale approving various amendments to Title 3 and Title 5 of the Palmdale Municipal Code.
Acting City Clerk Scott read the title of Ordinance No. 1612.
Motion: Introduce Ordinance No. 1612.
Moved by Richard J. Loa, seconded by Laura Bettencourt.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
Planning Manager Magana gave a PowerPoint presentation on this item.
CC Minutes – January 24, 2024 – 5pm 4
Mayor Bishop opened the public hearing to receive testimony.
Xavier Flores asked how the item related to alcohol and tobacco outlets.
Councilmember Bettencourt noted a letter of support was received from a local business on this item.
Mayor Bishop closed the public hearing.
In response to Mr. Flores’ question, Planning Manager Magana stated there was no change to alcohol and tobacco outlets with the ordinance that was presented.
There was Council and staff discussion regarding the comprehensive update of the municipal code and the reduction of paperwork submitted by businesses.
Motion: Adopt Ordinance No. 1612, an Ordinance of the City Council of the City of Palmdale approving various amendments to Title 3 and Title 5 of the Palmdale Municipal Code.
Moved by Richard J. Loa, seconded by Laura Bettencourt.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
7.2) Introduction and adoption of Ordinance No. 1634, an Ordinance of the City Council of the City of Palmdale approving various amendments to Titles 1, 8, and 9 of the Palmdale Municipal Code (PMC) to enhance public safety.
Acting City Clerk Scott read the title of Ordinance No. 1634.
Community Compliance Manager Vallarta provided a brief presentation on Ordinance No. 1634.
Motion: Introduce Ordinance No. 1634.
Moved by Laura Bettencourt, seconded by Richard J. Loa.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
Mayor Bishop opened the Public Hearing to receive testimony.
Public Testimony: None.
Mayor Bishop closed the Public Hearing.
Councilmember Ohlsen discussed the benefit of allowing Peace Officers to enforce the City's Municipal Code and the ability to prosecute where the District Attorney will not prosecute. He thanked staff for their hard work.
Councilmember Alarcón, Councilmember Bettencourt, and Mayor Pro Tem Loa thanked the Sheriff's Department for their kindness, professionalism , and responsiveness to the needs of the community.
CC Minutes – January 24, 2024 – 5pm 5
Motion: Adopt Ordinance No. 1634, an Ordinance of the City Council of the City of Palmdale approving various amendments to Titles 1, 8, and 9 of the Palmdale Municipal Code (PMC) to enhance public safety.
Moved by Andrea Alarcón, seconded by Richard J. Loa.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
7.3) Introduction and adoption of Urgency Ordinance No. U -1635, an Urgency Ordinance of the City Council of the City of Palmdale, adopting by reference Appendix P of the 2022 California Building Code, and Appendix AZ of the 2022 California Residential Code.
Acting City Clerk Scott read the title of Ordinance No. U-1635.
Motion: Introduce Urgency Ordinance No. U-1635.
Moved by Laura Bettencourt, seconded by Richard J.
Loa.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
Building Official George presented the staff report.
Mayor Bishop opened the Public Hearing to receive testimony.
Public Testimony: None.
Mayor Bishop closed the Public Hearing.
Building Official George discussed the benefits of adopting the appendices and the use of buildings for emergency shelters.
There were Council comments regarding the housing crisis and how adopting this item would be beneficial to the unhoused in the community.
Motion: Adopt Urgency Ordinance No. U-1635, an Urgency Ordinance of the City Council of the City of Palmdale, adopting by reference Appendix P of the 2022 California Building Code, and Appendix AZ of the 2022 California Residential Code.
Moved by Richard J. Loa, seconded by Laura Bettencourt.
Vote: Motion carried (5-0)
Yes: Austin Bishop, Richard J. Loa, Eric Ohlsen, Laura Bettencourt, Andrea Alarcón.
8) REPORTS AND ACTION ITEMS FROM MAYOR AND / OR COUNCILMEMBERS
8.1) Council Action Items.
Councilmember Bettencourt discussed her Committee Assignments.
CC Minutes – January 24, 2024 – 5pm 6
Mayor Bishop discussed the Trader Joe's project and the jobs that it will bring to the community.
Councilmember Ohlsen commended City Manager Perez for removing the hurdle to get the Trader Joe's project moving forward.
Councilmember Alarcón questioned the noticing for Item 8.1. City Attorney Curley provided clarification for noticing requirements.
There were no Council action items submitted.
9) CITY MANAGER’S REPORT
City Manager Perez reported on the following: Trader Joe's Industrial Development; Martin Luther King Jr. Day of Service and assembly of organic waste containers; Justice Sunday; Los Angeles County Department of Public Health free car seat event at Drytown Waterpark February 3; Million Little Day of Creativity at Palmdale Oasis Recreational Center; Letters to Harriet Tubman at the Palmdale Playhouse on February 3; Desert Sands playground ribbon cutting on February 6; SOS Children's Village ribbon cutting on February 7; Public Works Environmental Team secured a grant for charging infrastructure for almost $1.8M ; and the LAHSA homeless count February 25.
City Manager Perez welcomed and introduced Assistant City Manager Mendez and shared his background.
10) NON-AGENDA PUBLIC COMMENTS:
Eugene Hernandez recognized Mayor Pro Tem Loa's progressive history of fighting for social justice.
Marcos Alvarez commented regarding the unhoused, rent increases, and the creation of programs to reduce homelessness.
Mayor Bishop concluded the public comments.
11) PRESENTATION BY CITY ATTORNEY
City Attorney Curley confirmed the Closed Session item would be heard as listed.
11.1) CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Shanae Smith, Patricia Nevarez and Michael "Mike" Behen vs. City of Palmdale, et al.
Los Angeles County Superior Court
Case No. 22STCV18219
This closed session is being held pursuant to the authority of California Government Code Section 54956.9(d)(1).
CC Minutes – January 24, 2024 – 5pm 7
12) ANNOUNCEMENT BY CITY ATTORNEY
Closed Session was held 5:43 pm – 6:55 pm.
City Attorney Curley announced the Council was updated and there were no reportable actions.
13) ADJOURN
Mayor Bishop adjourned the meeting at 6:56 pm to February 7, 2024, at 5:00 pm in the City Hall Council Chamber located at 38300 Sierra Highway, Suite B, Palmdale, California.
PASSED, APPROVED, and ADOPTED this 7th day of February 2024.
Austin Bishop, Mayor
ATTEST:
Rochelle Scott, Acting City Clerk
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: ECONOMIC AND COMMUNITY DEVELOPMENT DEPARTMENT
PLANNING DIVISION
DISTRICT: 1
SUBJECT: ADOPT RESOLUTION NO. CC 2024 -017, DENYING APPEAL 24-0002 AND UPHOLDING PLANNING COMMISSION RESOLUTION
NO. PC-2024-001 TO DENY GENERAL PLAN AMENDMENT 23-0001, ZONE CHANGE 23 -0002, AND SPECIFIC PLAN AMENDMENT
22-001
RECOMMENDATION
Staff recommends that the City Council:
1. Receive public testimony regarding proposed Resolution No. CC 2024-017;
2. Adopt Resolution No. CC 2024-017 denying Appeal 24-0002; and,
3. Find that the request is exempt from environmental review.
BACKGROUND
Project Description: Renaissance Holdings, LLC and Land Developers and Associates are requesting City Council approval of Appeal (APP) 24-0002, overturning the Planning Commission’s decision to deny General Plan Amendment (GPA) 23 -0001, Zone Change (ZC) 23 -0002, and Specific Plan Amendme nt (SPA) 22 -001. The proposed requests include an amendment to the Antelope Valley Auto Center Specific Plan (SP) boundary for the removal of seven parcels, totaling approximately 20 acres and modifying the General Plan Land Use designation and Zone of those seven parcels from SP to Regional Commercial (RC). There is no development proposed at this time and future development would require separate review and approval.
In addition, the appellant is disputing the fees associated with the appeal applicationand is requesting a refund of $1,512.75.
On January 11, 2024, the Planning Commission adopted Resolution No. PC -2024-001 (Attachment 2), denying the proposed requests. An appeal of the decision was submitted on January 22, 2024 (APP 24-0002), and scheduled for the February 7, 2024, City Council meeting.
Report to Mayor and City Council
Re: Adopt Reso No. CC 2024-017
February 7, 2024
The SP was adopted on February 9, 1989, to guide the development of the Antelope Valley Auto Center (also referred to as the Palmdale Auto Mall), a master-planned automotive sales and leasing center designed to accommodate up to 15 auto dealerships. Since 1989, there have been five amendments to the SP, not including the proposed Specific Plan Amendment. The SP area is bounded by Technology Drive to the north, State Route 14 to the east, Avenue Q to the south, and 5th Street West to the west. The SP facilitated a unified environment through the coordinated use of similar elements such as roundabouts, landscaping treatments, etc., which gives the Palmdale Auto Mall a specific identity.
FIGURE 1 – AERIAL MAP
The auto dealerships make a conscious economic decision to cluster to efficiently share the market with their competitors. The design of the Palmdale Auto Mall created a defined route for customers to shop for vehicles. Additionally, the design allows dealerships to utilize the interior avenues (i.e., Auto Center Drive and Carriage Way) onto which they front or face as their dealer storefronts. As shown in Figure 2, the Palmdale Auto Mall currently has a total of eight auto dealerships, with the intention t o accommodate a total of 15.
Report to Mayor and City Council
Re: Adopt Reso No. CC 2024-017
February 7, 2024
FIGURE 2 – AUTO MALL DEALERSHIPS
Report to Mayor and City Council
Re: Adopt Reso No. CC 2024-017
February 7, 2024
DISCUSSION
SPA 22 -001 has been initiated by the applicant to revise the SP boundary along the southeastern portion of the SP for the removal of seven parcels , as shown in Figure 3.
With the modification to the SP boundary, GPA 23 -0001 and ZC 23-0002 is a request to amend the General Plan Land Use designation and zone of the seven parcels from SP to RC. The proposed amendment would permit all the uses allowed within the RC zone pursuant to Palmdale Municipal Code Table 17.47.020 -1 (Allowed Uses – Commercial/Office Zones).
The RC General Plan Land Use and Zoning designation is intended to accommodate commercial/retail and service uses attracting consumers from a regional market area. RC areas provide access to long-term goods and services such as big box retailers. However, the RC General Plan Land Use and Zoning designation does not allow new or used vehicle sales. The Palmdale Auto Mall is the only location throughout the City that allows the commercial sale of automobiles, and removing the seven parcels from the SP would prevent the expansion of the Palmdale Auto Mall if a new dealership wants to locate in Palmdale. Additionally, the area is currently able to support commercial/retail uses to the west and south of the SP. Furthermore, no development is proposed in conjunction with this request.
FIGURE 3 – PROPOSED MODIFICATION
Report to Mayor and City Council
Re: Adopt Reso No. CC 2024-017
February 7, 2024
FISCAL IMPACT
$0; there is no fiscal impact associated with this action.
STRATEGIC PLAN
Goal IV: Maintain a desirable community where everyone wants to live, work, and play.
A. Support opportunities to celebrate rich traditions and diverse cultures in the community.
Prepared by: Jasmine Almora, Associate Planner
Certified as to availability of Funds: Janelle Samson, Director of Operations Approved by: Ronda Perez, City Manager
Approved as to form: William P. Curley, III, City Attorney
ATTACHMENTS
Reso. No. CC 2024-017
Reso. No. PC-2024-001
CITY COUNCIL
CITY OF PALMDALE, CALIFORNIA
RESOLUTION NO. CC 2024-017
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALMDALE DENYING APPEAL 24-0002 AND UPHOLDING PLANNING
COMMISSION RESOLUTION NO. PC-2024-001 TO DENY GENERAL
PLAN AMENDMENT 23-0001, ZONE CHANGE 23-0002, AND SPECIFIC PLAN AMENDMENT 22-001
WHEREAS, Renaissance Holdings, LLC and Land Developers and Associates (Appellant) have filed an Appeal (APP) 24-0002 application requesting that the City Council overturn the Planning Commission’s decision to General Plan Amendment (GPA) 23-0001, Zone Change (ZC) 23-0002, and Specific Plan Amendment (SPA) 22-001, and;
WHEREAS, The Application, as contemplated, proposes to amend the Antelope Valley Auto Center Specific Plan (SP), generally bounded by Technology Drive to the north, State Route 14 on the east, Avenue Q to the south, and 5 th Street West to the west, for the removal of approximately 20 acres, referred to on the Los Angeles County Assessor roll as Assessor’s Parcel Numbers 3003-002-086, -099, -100, -103, -104, - 105, and -106, legally described on Exhibit A hereto and shown on the map attached hereto as Exhibit B, and;
WHEREAS, on January 11, 2024, the Planning Commission of the City of Palmdale conducted a duly noticed public hearing and adopted Resolution No. PC-2024-001, denying GPA 23-0001, ZC 23-0002, and SPA 22-001, and; WHEREAS, on January 22, 2024, the Appellant filed an appeal (APP 24-0002) of the Planning Commission Resolution No. PC-2024-001, and; WHEREAS, on February 7, 2024, the City Council of the City of Palmdale conducted a duly noticed public hearing on APP24-0002 (Application) and concluded said hearing on that date. Evidence, both written and oral, was duly presented and considered by the City Council at the aforesaid public hearing, including but not limited to, the staff report dated February 7, 2024.
NOW THEREFORE, BE IT RESOLVED, THE CITY COUNCIL OF THE CITY OF
PALMDALE DOES HEREBY FIND, DETERMINE, RESOLVE AND ORDER AS FOLLOWS:
SECTION 1. The City Council hereby specifically finds that all of the facts set forth in the Recitals, Part A of this Ordinance, are true and correct.
SECTION 2 . The City Council hereby finds as follows with respect to the environmental documentation:
(a) APP 24-0002 is exempt from the requirements of the California Environmental Quality Act (CEQA) Guidelines. The proposed application is subject to the “general rule” exemption pursuant to California Environmental Quality Act (CEQA) Guidelines Section 15061(b)(3), which provides that, where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. The proposed Application involves the appeal of a decision to deny changing the boundary of a SP, Land Use map and Zoning map and, therefore, is not subject to CEQA. Additionally, given that the request does not include any development, it does not result in a physical change that could cause an impact to the environment. Any future development application would be reviewed for CEQA compliance under a separate entitlement and the appropriate environmental document shall be prepared to address project- specific impacts. Therefore, the appeal will not have a significant effect on the environment.
(b) The custodian of records for the environmental document, and all other materials which constitute the record of proceedings upon which the City Council’s decision is based, is the Planning Manager of the City of Palmdale. These documents are available for public review in the Planning Division of the City of Palmdale located at 38250 Sierra Highway, Palmdale, California 93550, telephone (661) 267-5200.
SECTION 3 . Based upon substantial evidence presented to the City Council during the February 7, 2024, public hearing, including public testimony and written and oral staff report, the City Council specifically finds as follows:
(a) The proposed change in land use is consistent with State law. (GPA) (b) The proposed Zone Change is consistent with the goals, policies, and objectives of the General Plan. (ZC)
(c) The distribution, location, and extent of land uses, including open space, as depicted in the Specific Plan is consistent with the General Plan. (SPA) APP 24-0002 is a request to overturn the Planning Commission’s decision to deny GPA 23-0001, ZC 23-0002, and SPA 22-001.
The proposed requests include an amendment to the SP boundary for the removal of seven parcels, totaling approximately 20 acres, and modifying the General Plan Land Use designation and Zone of those seven parcels from SP to Regional Commercial (RC). The request is not consistent with applicable goals, policies and objectives of the SP and therefore the applicant is requesting a SPA in conjunction with the GPA and ZC. There is no development proposed at this time and future development would require separate review and approval. In addition, the General Plan may only be amended four times per year and this amendment constitutes the first of 2024.
(d) The amendment is reasonable and beneficial. (GPA)
(e) The proposed Zone Change will not have a substantial adverse effect on surrounding properties or the community in general. (ZC) The approval of APP 24-0002 will have a substantial adverse effect on surrounding properties and the Palmdale Auto Mall community because it will modify the boundary of the SP to remove seven parcels along the southeastern portion of the SP as well as redesignate the General Plan Land Use and zone of those parcels from SP to RC as depicted in Exhibit C. Additionally, the amendment is not reasonable and will not be beneficial because the purpose of the SP was set forth to establish an automobile shopping center with ancillary and coordinated commercial sales, services, and uses. The proposed appeal would permit all uses allowed within the RC zone pursuant to Palmdale Municipal Code Table
17.47.020-1 (Allowed Uses – Commercial/Office Zones). The RC General Plan Land Use and Zoning designation is intended to accommodate commercial/retail and service uses attracting consumers from a regional market area. RC areas provide access to long-term goods and services such as big box retailers. However, the RC General Plan Land Use and Zoning designation does not allow new or used vehicle sales. The Palmdale Auto Mall is the only location throughout the City that allows the commercial sale of automobiles, and removing the seven parcels from the SP would prevent the expansion of the Palmdale Auto Mall if a new dealership wants to locate in Palmdale. Furthermore, the auto dealerships make a conscious economic decision to cluster to efficiently share the market with their competitors. The Palmdale Auto Mall design created a defined route for customers to shop for vehicles. The design allows dealerships to utilize the interior avenues (i.e., Auto Center Drive and Carriage Way) onto which they front or face as their dealer storefronts.
The Palmdale Auto Mall currently has a total of eight auto dealerships, with the intention of the SP to accommodate a total of 15. (f) The Specific Plan provides for adequate public infrastructure and services needed to support the land uses described in the plan. (SPA) (g) The standards and development criteria will ensure that development proceeds in an orderly fashion and maintains a high level of quality. (SPA) (h) The Specific Plan contains implementation measures to ensure that development is supported by adequate infrastructure as development occurs. (SPA)
(i) The site is suitable for the type and intensity of development proposed. (SPA)
(j) The flexibility in development standards afforded by the Specific Plan process has resulted in a project providing a superior design and greater amenities than would occur pursuant to more traditional zoning practices, and the project provides clear and substantial benefit to the City. (SPA) No development was proposed in conjunction with the requests of GPA 23-0001, ZC 23-0002, and SPA 22-001; therefore, the applications have not provided a superior design and do not provide a clear and substantial benefit to the City.
SECTION 4 . Based on the findings and conclusions set forth in the above Sections, and based on all other evidence in the record, the City Council hereby adopts Resolution No. CC 2024-017, denying APP 24-0002 and upholding Planning Commission Resolution No. PC-2024-001 to deny GPA 23-0001, ZC 23-0002, and SPA 22-001 and deny the request for refund of application fees.
SECTION 5. The City Clerk shall certify to the adoption of this resolution.
PASSED, APPROVED and ADOPTED this 7th day of February 2024. _________________________________
Approved as to form: Austin Bishop, Mayor
ATTEST:
___________________________ ________________________________ William P. Curley, III Rochelle Scott, Acting City Clerk City Attorney
I, Rochelle Scott, Acting City Clerk of Palmdale, California, do hereby certify that the foregoing resolution was duly passed, approved, and adopted by the City Council of the City of Palmdale at a regular meeting of said Council held on the day of _____________, 20___, by the following roll call vote:
AYES:
NOES:
ABSTAIN: ABSENT:
Date:
Rochelle Scott, Acting City Clerk
EXHIBIT A
LEGAL DESCRIPTION FOR APP 24-0002
Legal Description of the Property that is the
Subject of the Certification of Acceptance of Conditions
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF
PALMDALE IN THE COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
PARCEL A:
THAT PORTION OF LOT 23 OF TRACT NO. 46586, IN THE CITY OF PALMDALE,
COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1145, PAGES 52 THROUGH 57, INCLUSIVE OF MAPS, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY, AND THE EAST HALF OF THE
WEST HALF OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 6 NORTH, RANGE 12 WEST, IN SAID CITY, COUNTY
AND STATE, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE
OFFICIAL PLAT OF SAID LAND APPROVED BY THE SURVEYOR GENERAL SEPTEMBER 03, 1855, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF AVENUE Q AND CARRIAGE WAY; THENCE ALONG THE CENTERLINE OF AVENUE Q, NORTH 89°56’22” WEST A DISTANCE OF 453.36 FEET; THENCE NORTH 00°35’36” WEST 40.00 FEET TO THE
NORTHERLY RIGHT OF WAY OF AVENUE Q AND THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID LINE NORTH 00°35’36” WEST 541.23; THENCE
SOUTH 89°55’46” EAST 419.38 FEET TO THE EASTERLY LINE OF SAID LOT 23; THENCE SOUTH 514.09 FEET; THENCE SOUTH 45°01’49” WEST 38.20 FEET; THENCE NORTH 89°56’22” WEST 386.74 FEET TO THE TRUE POINT OF BEGINNING.
SAID LAND IS DESCRIBED AS “PROPOSED PARCEL A” ON LOT LINE ADJUSTMENT NO. 613, RECORDED MAY 08, 2006, AS INSTRUMENT NO. 06- 1011713 OF OFFICIAL RECORDS.
APN: 3003-002-103
PARCEL B:
LOT 13 OF TRACT NO. 46586, IN THE CITY OF PALMDALE, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS SHOWN BY MAP ON FILE IN BOOK 1145, PAGES 52 TO 57 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
Exhibit A
Legal Description
EXCEPT THAT PORTION LYING WITHIN THE GRANT DEED TO THE STATE OF CALIFORNIA RECORDED NOVEMBER 4, 1993, AS INSTRUMENT NO. 93-2158035 OF OFFICIAL RECORDS.
APN: 3003-002-100
PARCEL C.
LOT 12 OF TRACT NO. 46586, IN THE CITY OF PALMDALE, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS SHOWN BY MAP ON FILE IN BOOK 1145, PAGES 52 TO 57 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPT THE NORTH 24 FEET OF SAID LOT 12 AS MEASURED ALONG THE WESTERLY AND EASTERLY LINES THEREOF.
ALSO EXCEPT THAT PORTION LYING WITHIN THE GRANT DEED TO THE STATE OF CALIFORNIA RECORDED NOVEMBER 4, 1993 AS INSTRUMENT NO. 93- 2158035 OF OFFICIAL RECORDS.
SAID LAND IS ALSO DESCRIBED AS PARCEL C IN THE CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 565, A CERTIFIED COPY RECORDED FEBRUARY 3, 2004, AS INSTRUMENT NO. 04-242559 OF OFFICIAL RECORDS.
APN: 3003-002-099
PARCEL D:
LOT 11 OF TRACT NO. 46586, TOGETHER WITH THE NORTH 24 FEET OF LOT 12, OF TRACT NO. 46586 AS MEASURED ALONG THE WESTERLY AND EASTERLY
LINES THEREOF, IN THE CITY OF PALMDALE, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1145, PAGES 52 THROUGH 57 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPT THE NORTH 85 FEET OF SAID LOT 11 AS MEASURED ALONG THE WESTERLY AND EASTERLY LINES THEREOF.
ALSO EXCEPT THAT PORTION LYING WITHIN THE GRANT DEED TO THE STATE OF CALIFORNIA RECORDED NOVEMBER 4, 1993 AS 1993-2158035, OFFICIAL RECORDS.
Exhibit A
Legal Description
SAID LAND IS ALSO DESCRIBED AS PARCEL B IN THE CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 565, A CERTIFIED COPY RECORDED FEBRUARY 3, 2004, AS INSTRUMENT NO. 2004-242559, OFFICIAL RECORDS.
APN: 3003-002-086
PARCEL E:
THAT PORTION OF LOT 23 OF TRACT NO. 46586, IN THE CITY OF PALMDALE,
COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1145, PAGES 52 THROUGH 57, INCLUSIVE OF MAPS, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY, AND THE EAST HALF OF THE
WEST HALF OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 6 NORTH, RANGE 12 WEST, IN SAID CITY, COUNTY
AND STATE, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE
OFFICIAL PLAT OF SAID LAND APPROVED BY THE SURVEYOR
GENERAL SEPTEMBER 03, 1855, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF AVENUE Q AND CARRIAGE WAY; THENCE ALONG THE CENTERLINE OF AVENUE Q, NORTH 89° 56’ 22” WEST A DISTANCE OF 453.36 FEET;
THENCE NORTH 00° 35’ 36” WEST 40.00 FEET TO THE NORTHERLY RIGHT OF WAY OF AVENUE Q;
THENCE CONTINUING ALONG SAID LINE NORTH 00° 35’ 36” WEST 541.23 FEET TO THE TRUE POINT OF BEGINNING;
THENCE NORTH 00° 35’ 36” WEST 310.44 FEET;
THENCE SOUTH 89° 55’ 46” EAST 422.59 FEET;
THENCE SOUTH 310.42 FEET;
THENCE NORTH 89° 55’ 46” WEST 419.38 FEET TO THE TRUE POINT OF BEGINNING.
SAID LAND IS THE SOUTHERN 3 ACRES OF THAT LAND DESCRIBED AS “PROPOSED PARCEL B” ON LOT LINE ADJUSTMENT NO. 613, RECORDED MAY 8, 2006, AS INSTRUMENT NO. 06-1011713 OF OFFICIAL RECORDS.
APN: 3003-002-104
PARCEL F:
THAT PORTION OF LOT 23 OF TRACT NO. 46586, IN THE CITY OF PALMDALE,
COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN Exhibit A
Legal Description
BOOK 1145, PAGES 52 THROUGH 57, INCLUSIVE OF MAPS, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY, AND THE EAST HALF OF THE
WEST HALF OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 6 NORTH, RANGE 12 WEST, IN SAID CITY, COUNTY
AND STATE, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE
OFFICIAL PLAT OF SAID LAND APPROVED BY THE SURVEYOR GENERAL SEPTEMBER 03, 1855, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF AVENUE Q AND CARRIAGE WAY; THENCE ALONG THE CENTERLINE OF AVENUE Q, NORTH 89° 56’ 22” WEST A DISTANCE OF 453.36 FEET;
THENCE NORTH 00° 35’ 36” WEST 40.00 FEET TO THE NORTHERLY RIGHT OF WAY OF AVENUE Q;
THENCE CONTINUING ALONG SAID LINE NORTH 00° 35’ 36” WEST 851.67 FEET TO THE TRUE POINT OF BEGINNING;
THENCE NORTH 00° 35’ 36” WEST 205.65 FEET;
THENCE SOUTH 89° 55’ 46” EAST 424.71 FEET;
THENCE SOUTH 205.64 FEET;
THENCE NORTH 89° 55’ 46” WEST 422.59 FEET TO THE TRUE POINT OF BEGINNING.
SAID LAND IS THE CENTRAL 2 ACRES OF THAT LAND DESCRIBED AS “PROPOSED PARCEL B” ON LOT LINE ADJUSTMENT NO. 613, RECORDED MAY 08, 2006, AS INSTRUMENT NO. 06-1011713 OF OFFICIAL RECORDS.
APN: 3003-002-105
PARCEL G:
THAT PORTION OF LOT 23 OF TRACT NO. 46586, IN THE CITY OF PALMDALE,
COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1145, PAGES 52 THROUGH 57, INCLUSIVE OF MAPS, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY, AND THE EAST HALF OF THE
WEST HALF OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 6 NORTH, RANGE 12 WEST, IN SAID CITY, COUNTY
AND STATE, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE
OFFICIAL PLAT OF SAID LAND APPROVED BY THE SURVEYOR GENERAL SEPTEMBER 03, 1855, DESCRIBED AS FOLLOWS:
COMMENCING AT THE INTERSECTION OF AVENUE Q AND CARRIAGE WAY; Exhibit A
Legal Description
THENCE ALONG THE CENTERLINE OF AVENUE Q, NORTH 89° 56’ 22” WEST A DISTANCE OF 453.36 FEET;
THENCE NORTH 00° 35’ 36” WEST 40.00 FEET TO THE NORTHERLY RIGHT OF WAY OF AVENUE Q;
THENCE CONTINUING ALONG SAID LINE NORTH 00° 35’ 36” WEST 1,057.32 FEET TO THE TRUE POINT OF BEGINNING;
THENCE NORTH 00°35’ 36” WEST 207.11 FEET TO THE SOUTHERLY RIGHT OF WAY OF AUTO CENTER DRIVE;
THENCE SOUTH 89° 55’ 46” EAST 386.20 FEET TO A NON-TANGENT CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 90.00 FEET AND A RADIAL BEARING NORTH 63° 40’ 58” EAST;
THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 37° 17’ 41” A DISTANCE OF 58.58 FEET;
THENCE SOUTH 166.42 FEET;
THENCE NORTH 89° 55’ 46” WEST 424.71 FEET TO THE TRUE POINT OF BEGINNING.
SAID LAND IS THE NORTHERN 2 ACRES OF THAT LAND DESCRIBED AS “PROPOSED PARCEL B” ON LOT LINE ADJUSTMENT NO. 613, RECORDED MAY 08, 2006, AS INSTRUMENT NO. 06-1011713 OF OFFICIAL RECORDS.
APN: 3003-002-106
EXHIBIT B
AERIAL MAP FOR APP 24-0002
EXHIBIT C
PROPOSED LAND USE AND ZONING FOR APP 24-0002
EXHIBIT D
THE ANTELOPE VALLEY
AUTO CENTER SPECIFIC PLAN
2023 DRAFT AMENDMENT
Prepared by
TRAKELL CORPORATION
LEASON POMEROY ASSOCIATES, INC.
CALVIN ABE & ASSOCIATES
& THE VICTOR GROUP, INC.
ORDINANCE 787
ADOPTION OF THE ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN FEBRUARY 9, 1989
ORDINANCE 830
AN AMENDMENT TO THE ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN SEPTEMBER 14, 1989
ORDINANCE 1089
AN AMENDMENT TO THE ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN AUGUST 9, 1996
ORDINANCE 1122
ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN
SPECIFIC PLAN AMENDMENT 98-2 AVAC
JULY 8, 1998
ORDINANCE 1252
ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN
SPECIFIC PLAN AMENDMENT 04-01 AVAC
JANUARY 10, 2005
ORDINANCE 1513
ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN
SPECIFIC PLAN AMENDMENT 18-001
OCTOBER 4, 2018
ORDINANCE _______
ANTELOPE VALLEY AUTO CENTER SPECIFIC PLAN
SPECIFIC PLAN AMENDMENT 22-001
XX,XX, 2024
TABLE OF CONTENTS
SECTION 1.0 INTRODUCTION AND BACKGROUND
1.1 Purpose of the Specific Plan
1.2 Objectives of the Specific Plan
1.3 Relationship to Other Plans
1.4 Legislative Context
SECTION 2.0 SPECIFIC DEVELOPMENT PLAN
2.1 Project Description
2.2 Environmental Setting
2.3 Community Setting
2.4 Development Plan
2.5 Circulation Element
2.6 Public Facilities Element
2.7 Landscape Concept Element
2.8 Signage Concept Element
2.9 Grading Concept Element
SECTION 3.0 DEVELOPMENT STANDARDS AND CRITERIA
3.1 Permitted Uses
3.2 Setback Standards
3.3 Sitework Standards
3.4 Landscape Standards
3.5 Lighting Standards
3.6 Signage Standards
SECTION 4.0 RELATIONSHIP TO THE GENERAL PLAN
SECTION 5.0 SPECIFIC PLAN ADMINISTRATION
BIBLIOGRAPHY
SECTION 1.0 INTRODUCTION AND BACKGROUND
2 1.0 INTRODUCTION AND BACKGROUND
1.1 Purpose of the Specific Plan
The Auto Center Specific plan is prepared pursuant to California Government Code Section 65450 et. Sep. The law requires that the Specific Plan contain a detailed program for the “systematic implementation of the General Plan” accomplished through the use of text and diagrams which detail the following:
• The distribution and extent of land uses;
• The distribution and extent of infrastructure;
• Standards for development and conservation resources where appropriate; and
• Statement of the relationship between the Specific Plan and the General Plan.
To that end, it is the intent of this document to set forth the policies and standards that will regulate the construction of new auto dealership facilities within the Antelope Valley Auto Center.
It is further the intent of the Specific Plan to define the criteria for implementing coordinated design and the overall visual identity of the center; while preserving the opportunity for individual creativity within each dealership project.
1.2 Objectives of the Specific Plan
The basic objectives of the Specific Plan are to:
A. Establish a regional commercial automobile shopping center with ancillary and coordinated commercial sales, services, and uses;
B. Establish cooperation and coordination, between the City of Palmdale and the Auto Center participants.
3 C. Establish a long term and on-going source of economic strength to the community in terms of employment and government revenue;
D. Protect and enhance the natural, social, and physical attributes of the development area so as not to detrimentally affect adjacent existing developments; and
E. Establish innovative and quality site planning and architectural design maintaining a prosperous and marketable specialized commercial complex unique and individual in itself.
1.3 Relationship to Other Plans
The Auto Center Specific Plan represents roughly 12% of the commercial property located within proposed 10th Street West Assessment District (88- 1). The Assessment District is being formed for the expressed purpose of upgrading the area’s sewer, water, roadway, and storm drain facilities to a level capable of supporting the planned regional commercial development.
In addition to the Auto Center proposal, 100 acres within Assessment District 88-1 have currently been committed to a Regional Shopping Mall.
Ground breaking is expected to begin in April of 1989.
1.4 Legislative Context
The Auto Center Specific Plan is adopted in order to establish regulations, conditions, standards, and criteria for the implementation of a regional commercial shopping center providing automobile and related merchandise and services exclusively.
When adopted, the Specific Plan will serve to implement the City of Palmdale Community General Plan. The Auto Center Specific Plan implements the goals and objectives of the Palmdale Community General Plan by:
4 A. Encouraging the economic fortitude of the community through long term commitment of high sales tax generating commercial uses to the project area;
B. Promoting the logical extension of urban services to an area planned for future regional commercial development; and
C. Advancing the aesthetic objectives of the community through ensuring high quality architectural and landscape design.
The objectives and standards outlined within the Auto Center Specific Plan are necessary to ensure the integrity of the Auto Center concept. Once confirmed, the Auto Center Specific Plan will serve as the regulatory statute for the Auto Center. All requirements of the Zoning Ordinance and of the specific zoning of the subject property must be complied with unless alternative requirements are set forth in the Specific Plan. In the event the Specific Plan fails to address certain standards, the City ordinance s will apply.
SECTION 2.0 SPECIFIC DEVELOPMENT PLAN
6 2.0 SPECIFIC DEVELOPMENT PLAN
2.1 Project Description
The Auto Center Specific Plan consists of 78 acres 43 acres and is located west of the Antelope Valley Freeway, in the City of Palmdale, California. (SPA 04- 01, adopted by City Council January 10, 2005.) (SPA 22-001 adopted by City Council XX,XX, 202X)
The Auto Center Specific Plan allows for the construction of the Antelope Valley Auto Center, a master planned retail automotive sales and leasing center planned to accommodate up to 15 12 auto dealership franchises. (SPA 22-001 adopted by City Council XX.XX, 202X)
Dealerships within the Auto Center are focused towards interior parking and circulation elements. The design is intended to create a synergism within the center where the success of one dealership promotes the success of another.
It is the intent of the Specific Plan to ensure the creation of a unified environment through the coordinated use of similar elements which give the auto center a single identity. As with an enclosed shopping mall, the overall identity belongs to the mall itself. Individual vendors then establish their own identities within the context of this fabric.
The Auto Center design creates a well-defined route for customers on which to shop with convenient parking area that allow them to feel free to walk in and out of the Dealers’ lots. The “mall” concept utilized the major interior avenues onto which the Deal erships front or face as their “store fronts”.
These avenues include “roundabouts” at their intersections.
The four major entrances off Technology Drive, 5th Street West and Avenue Q, one major and three minor, will be identified for visitors by signage. The project incorporates perimeter walls, to provide screening of storage and service areas at the rear of the properties. (SPA 04-01, adopted by City Council January 10, 2005.)
It is intended that no particular “style” or period of architecture be replicated or copied in the design of any individual dealership buildings. That is, no building should be identifiably Spanish, Mediterranean, Santa Fe, High Tech, etc. Within the constraints outlined in this Specific Plan, each building should be thoughtfully designed to fit within the spirit of the 7 design concept and the environment. The architectural standards for the center are outlined in greater detail in the Architectural Design Manual to be submitted to the Director of Planning for his review and approval prior to the issuance of the first building permit for the center.
2.2 Environmental Setting
The project site is vacant and undeveloped. Only sparse desert scrub covers the site and much of the vegetation has been destroyed by vehicular traffic which traverses the property on unimproved access roads.
The project site gently slopes to the northeast and is topographically flat, with elevations ranging between 2,640 and 2,680 feet.
The properties surrounding the project site are predominantly vacant. The Antelope Valley Freeway (State Route 14) borders the site on the east.
South of Avenue Q, a three-story hotel complex has been constructed and west of the project on the northwest corner of 5th Street West and Avenue Q is an existing union meeting hall. The remaining properties surrounding the project site are vacant at this time.
2.3 Community Setting
The City of Palmdale is one of the fastest growing cities of the State of California. Current population figures estimate the combined population of the Cities of Lancaster and Palmdale and the community of Quartz Hill at 147,367 persons. The 1990 projections estimate the population of these communities at 214,964 persons.
Rapid residential growth in the last six years has triggered an increase in demand for public services. Recognizing the need to generate additional revenues to support increased demand, the City of Palmdale Redevelopment Agency set forth to establish Redevelopment Project areas within which tax increment could be collected to finance infrastructure and encourage upgrades to blighted areas. The Auto Center Specific Plan area is located within Redevelopment Project No. 4 which was adopted under Ordinance 515 on November 10, 1983 by the City of Palmdale Community Redevelopment Agency.
8 2.4 Development Plan
A. Purpose
The primary purpose of the Auto Center Specific Plan is to implement the General Plan through the physical and economic development of 78 acres59 acres of commercial property located within Redevelopment Project Area No. 4. It is further the purpose of this development plan to promote Auto Center uses and to encourage the highest and best quality of design and environment within the designated area. (SPA 04- 01, adopted by City Council January 10, 2005). (SPA 22-001, adopted by City Council XX,XX, 202X)
B. Plan Design Policies
1. New car showrooms shall be developed under a coordinated design concept orienting facilities towards pedestrian travel areas and parking nodes.
2. Design of signs, landscaping, and lighting shall provide an attractive environment to Auto Center visitors and employees, as well as motorists on the freeway and neighboring properties.
3. Aesthetically pleasing entrances to the development area shall be established through the implementation of design and development standards contained herein.
4. Automobile display and storage facilities shall be enhanced through the use of a coordinated landscape street design.
5. Design theme of buildings, landscaping, and all site improvements shall be integrated to comprise a unified motif throughout the development area.
6. Development characteristics which result in a visual or audible nuisance to the development shall be prohibited.
9 10
11 7. Ancillary uses to the primary use of the Auto Center shall be integrated into the plan provided that these facilities enhance the design efficiency and feasibility of the primary use.
8. A Dealer’s Association shall be formed and comprised of lot owners and shall encourage cooperation in the development, maintenance, and marketing of services provided within the Auto Center.
9. The project shall be designed so as to create a “sense of place”. This shall be accomplished through the use of dramatic landscaping, controlled signage, color, and architectural design.
C. Land Use Designation/Use Zones
All properties located within the Auto Center shall be designated as Specific Plan, consistent with the City of Palmdale Zoning Ordinance.
The development standards contained within this Specific Plan shall be governing standards for development within the Center.
2.5 Circulation Element
A. Purpose
The purpose of the Circulation Element is to define the location and extent of roadway improvements within the Auto Center.
B. Circulation Element Policies
1. Safe and efficient access within the Auto Center for both vehicles and pedestrians is a priority of the Specific Plan.
2. The circulation system shall be designed to be sensitive to surrounding land uses and shall contribute to the overall circulation in the project area.
3. Roadway improvements shall be designed with sufficient right -of- way to support the level of services required by traffic generated from the Auto Center and surrounding areas.
12 4. An integrated landscape concept along the roadway shall be created to not only enhance community design but to provide security for the auto dealerships as well.
5. On-site parking, adequate to accommodate one (1) space per employee at the largest shift, shall be provided for all dealerships.
Employee parking areas may be constructed to be common to more than one dealership, however, in no event are employees allowed to park within the public road right-of-way for the Auto Center. Parking for customers shall be provided within the right-of-way and within the joint use parking nodes.
6. Adequate area within the right -of-way must be provided to allow for the loading and unloading of vehicles. The roadways shall be designed with sufficient radius to accommodate the turning motions of automobile transport vehicles.
7. Employer-sponsored transportation measures, such as ridesharing, carpool/vanpools, and preferential parking should be encouraged whenever possible.
8. Individual dealers shall attempt to provide on -site loading and unloading of vehicles. If a public street is used for such activities, arrangements shall be made to avoid conflicts with customer visitations.
C. Circulation Element Concept
The roadway standard utilized within the Auto Center Specific Plan varies according to location and area served. In all instances however, the standard is reflective of the Los Angeles County Road Department Standards Planning manual.
The City of Palmdale has designated Avenue P -8 as a major highway.
There has been discussion on constructing an off ramp at Avenue P -8.
While these discussions have not progressed beyond the conceptual stage, the Auto Center Specific Plan is sensitive to t he future need for right-of-way acquisition. An easement will be reserved for a future off ramp that will be located in the northeast corner of the project. 13 The public improvements for the Auto Center will be constructed under the umbrella of the 10th Street West Assessment District. Specifically, the developer will construct the improvements in advance of the funding of the Assessment District and then sell the improvements back to District upon completion. The procedure is called an Acquisition District and all p ublic improvements (on and off -site) associated with the Auto Center will be constructed in this fashion. It is important to note here that there will be infrastructure improvements constructed as part of the Auto Center that are located outside of Specific Plan boundaries. For purposes of clarity, they are listed below:
AUTO CENTER SPECIFIC PLAN
Improvement Cross Section
Auto Center Drive (interior) 80’ ROW; 5’ sidewalk, 68’ travel way, 16’ landscape median
Carriage Way and Auto Vista Drive
(interior)
60’ ROW; 5’ sidewalk, 48’ travel way
Avenue Q (on-site) 80’ ROW; 5’ sidewalk, 64’ travel way, 2.5’ landscaping w/n ROW, 7’ additional
landscape as easement
5th Street West and Technology Drive 100’ ROW; 5’ sidewalk, 84’ travel way, 2.5’ landscape w/n ROW, 7’ additional
landscape as easement
(SPA 04-01, adopted by City Council January 10, 2005.)
OFF-SITE IMPROVEMENTS
CONSTRUCTED PER 88-1
Improvement Cross Section
Auto Center Drive 80’ ROW; 5’ sidewalk, 68’ travel way, 16’ landscape median
Technology Drive 100’ ROW; 5’ sidewalk, 84’ travel way, 2.5’ landscape w/n ROW, 7’ additional
landscape as easement
(SPA 04-01, adopted by City Council January 10, 2005.)
14 15
16 17
18 2.6 Public Facilities Element
A. Purpose
The purpose of the Public Facilities Element is to define the location and extent of public services and to promote the logical extension of those services.
B. Public Facilities Element Policies
1. Public Facilities within the Auto Center shall be designed in conformance with the standards and regulations of the City of Palmdale and the County of Los Angeles.
2. All parcels within the Auto Center shall be served with public water, sewer, electricity, telephone, gas, and cable.
3. Storm drain facilities shall be constructed to ensure that the rate of storm water and nuisance runoff will exit the project at a rate equal to or less than the rate of runoff that occurs in a natural condition.
4. Properties within the Auto Center Specific Plan shall be protected from a 100-year storm event.
C. Public Facilities Element Concept
Public facilities will be provided to the Auto Center in the same manner as the roadway improvements. Utilities constructed within public right - of-way shall be included within the Acquisition District and transferred to the 10th Street West Assessment District upon completion. The following table summarizes the public facilities to be constructed within the Specific Plan boundary.
19 TABLE A
AUTO CENTER PUBLIC FACILITIES
Improvement Location
Water
• 12” main in Avenue P-8 from I-14 to 10th Street West
• 12” main in Avenue P-12 from 3rd Street West to 10th
Street West
• 12” main in 5th Street from Avenue Q to Avenue P-8
• 12” main in Avenue P-10, from 3rd Street West to 5th
Street West
• 12” main in 3rd Street West, from Avenue P-10 to Avenue Q
• 1-1/2-inch line supplied to dealership
Sewer
• 12” main in 5th Street West, 200’ north of Avenue Q to 100’ south of Avenue P-8
• 15” main from Avenue P -8 to 3rd Street West in 3rd Street West from Avenue P -12, in Avenue P -12 from 3rd Street West to 5th Street West
• 12” main in Avenue P-8 from I-14 to 10th Street West
• 12” main in Avenue P-12 from 5th Street West to 10th
Street West
• 8” main in 3rd Street West from P-12 to Avenue Q
• 8” main in Avenue P-10 from 3rd Street West to 100’ east of 5th Street West
Storm Drain
• Storm drain down Avenue Q to graded channel east of I-14 • Storm drain in Avenue P-12 to I-14 culvert
• Detention Basin east of 5th Street West
Telephone
• SBC & AT&T
Electric/Gas
• PG&E/Southern California Edison
Cable T.V.
• Jones Intercable
20 2.7 Landscape Concept Element
A. Purpose
The purpose is to establish a comprehensive, attractive, and unified landscaped concept for the Antelope Valley Auto Center.
B. Landscape Design Policies
1. The landscaping shall be designed to provide an attractive and unifying appearance for the Auto Center by utilizing plant materials to soften and add color to the hardscape.
2. Landscaping should provide the emphasis at entrances and interior roundabouts.
3. Plant materials and hardscape elements are to create a unified streetscape along the interior streets of the Auto Center as well as provide security for and pedestrian access onto the
automobile display area.
4. Landscaping elements at the community edges are to positively integrate the Center into the neighborhood.
5. The design of the landscaping must utilize materials indigenous to the local environmental climate and drought resistant wherever possible.
6. Material selections must take into account long term maintenance issues.
7. The landscape concept shall establish minimum performance standards and a listing of acceptable plant materials.
21 C. The Landscape Concept
The landscape concept addresses special treatment for various zones yet provides an overall visual continuity. These zones or areas are the entrances, central drive, roundabouts, pylon sign area, the loop road and streetscape, the perimeter edges and the freeway edge, individual dealer entries, and optional windows. The design reflects a hierarchy and performance requirements of these elements.
The entries are formal and punctuate the arrival.
The central drive (Auto Center Drive) is identified by a palm row in the median terminating at the central round-about. The roundabouts feature the most effective plantings and feature spaces for product display.
Rings of palms identify the roundabouts.
The pylon sign area is specially landscaped to provide an interesting base for the sign and add an attractive eye-catcher at the freeway.
The streetscape design at the interior roads should provide low maintenance landscaping with no irrigation problems to the automobile on display, security, and pedestrian access. All this is accomplished by a module of planters.
The perimeter edges provide ten feet of landscaping. The design primarily includes indigenous desert materials.
The individual dealer entries will be designed from a palette of prototypes that fit with the streetscape modules and provide an opportunity for trees and berm.
D. The developer shall install all landscaping and irrigation within the public right-of-way and within five feet (5’) of the dealer parcels, all landscaped Auto Center entries, landscaping in the roundabouts, and pylon sign area. Individual dealers will inst all landscaping on their parcels except the five feet (5’) referenced above. The five feet (5’) planter area plus the dealers; landscaping improvements will equal 5% of the improved parcel.
The Antelope Valley Auto Center’s Dealer’s Association will maintain all landscaped areas within the Auto Center including public right-of- 22 ways, entries, planters, employee parking areas, and the pylon sign area.
The City of Palmdale Landscape Maintenance District will maintain all landscaping on Avenue P-8 and Avenue Q. The developer will maintain all landscaping along 5th Street West. A separate landscape maintenance district will be formed for this purpose.
2.8 Signage Concept Element
A. Purpose
The purpose of the Signage Concept Element is to establish a Planned Sign Program for all development located within the Auto Center Specific Plan. This Element speaks only to on -site signage requirements.
B. Signage Concept Element Policies
1. It is the intent of the Specific Plan to control the location, size, type, and design of all signage within the Auto Center to ensure a unified appearance to the Center.
2. A Freeway Identification sign will be established for the purpose of attracting customers to the Auto Center. The sign shall be located so as to be seen from both north and south bound traffic and be designed to exhibit the architectural theme of the center.
3. All entrances into the Auto Center will be clearly identified with monument signs. These signage areas shall be appropriately landscaped.
4. Dealer identification signs shall be carefully controlled to convey a uniform sense of identity.
23 C. Signage Concept Element Overview
Signage within the Auto Center is regulated in two areas; signage for the Auto Center itself and signage for the individual dealership. The signage for the Auto Center identification has been designed and illustrated in the development standards section of the Specific Plan.
The Signage program for the individual dealerships is strictly controlled by the Design Standards and is limited to the placement of monument signs at each driveway entrance, one 20-foot-tall pylon sign per dealership, and two primary wall signs per product line. Dealerships abutting the freeway may place signs on the rear of buildings allowing for greater visibility.
2.9 Grading Concept Element
A. The Grading Concept Element establishes a grading design for the maximum development of the Specific Plan area. The site is topographically flat and there are no landforms that should be preserved to maintain the character of the property. The primary purp ose of the grading concept therefore is to elevate the property and to provide for maximum freeway visibility for the Auto Center and to provide for storm drainage.
B. Grading Concept Element Policies
The property shall be graded to enhance the visibility of the Auto Center and commercial properties located west of 5th Street West.
SECTION 3.0 DEVELOPMENT STANDARDS AND CRITERIA
22 3.0 DEVELOPMENT STANDARDS AND CRITERIA
3.1 Permitted Uses
A. Allowed Uses
The following uses may be permitted subject to compliance with the provisions of the Specific Plan:
1. The sale of new automobiles shall be the principal use of the proposed facility;
2. The sale of used automobiles and trucks, except that the total number of lots and acreage in the Specific Plan area that may be utilized for the sale of used automobiles and trucks not in association with a dealership that sells new automobiles or trucks, together with the total number of lots and acreage in the Specific Plan area that is utilized for the renting or leasing of automobiles or trucks not in association with a dealership that sells new automobiles or trucks, shall not exceed one (1) lot and said lot shall not exceed three (3) acres in area;
3. The sale of new vehicle parts and equipment;
4. Auto repair and body work when confined to an enclosed structure and associated with a new car dealership (NOTE: A three-sided building with a roll -up door shall be treated as an enclosed building);
5. Automobile and truck renting and leasing, except that the total number of lots and acreage in the Specific Plan area that may be utilized for the renting and leasing of automobiles and trucks not in association with a dealership that sells new automobiles or trucks, together with the total number of lots and acreage in the Specific Plan area that is utilized for the sale of used automobiles and trucks not in association with a dealership that sells new automobiles or trucks, shall not exceed one (1) lot and said lot shall not exceed three (3) acres in area;
6. Storage of automobiles and other vehicles associated with the sale of automobiles;
23 7. The sale and repair of new van conversions, campers, motor homes, jet skis, motorcycles, boat and watercraft sales and other recreational vehicles; (SPA 04-01, adopted by City Council January 10, 2005.)
8. The sale of used van conversions, campers, motor homes, jet skis, motorcycles and other recreational vehicles when
associated with a new recreational vehicle dealership;
9. Amenity areas provided for customers or the general public, including but not limited to, landscaped open space areas, public seating areas, outdoor eating areas, tot lots, or other similar facilities as determined by the Planning Director to be in keeping with the intent of the AVAC Specific Plan.
B. Other Uses
It is recognized that certain other uses can be compatible with permitted uses of this Specific Plan, but it is the intent of this plan to restrict and control locations, site design, and activities of these compatible uses.
Therefore, the following uses m ay be permitted in the Auto Center Specific Plan provided that it is found:
1. That the requirements of the Specific Plan are met;
2. The existing traffic and circulation system can accommodate the additional uses;
3. The use is compatible with the appearance character and activities of the Auto Center;
4. The use does not detract from the continuity and integrity of new car sales and the incorporated concepts of the plan;
5. A Conditional Use Permit shall first be obtained from the City of Palmdale.
24 These uses include:
1. Restaurants and other eating and drinking facilities;
2. Car wash;
3. Private fuel storage and dispensing facility.
C. Temporary Uses
Certain temporary uses may be determined by the Planning Director to be compatible with the uses of the Specific Plan in order to promote the Antelope Valley Auto Center. The temporary uses shall be subject to any condition that the City determines to be reasonably necessary to ensure that the use will not be injurious to health, safety, or welfare.
These uses may include, but not be limited to, the following:
1. A Special Event Permit shall be required for the following temporary uses subject to Section 27.03.A of the Palmdale Zoning Ordinance (For events that are more than one (1) day, a Temporary Use Permit will be required.): (SPA 04-01, adopted by City Council January 10, 2005.)
a. Parking lot and sidewalk sales.
b. Grand opening and anniversary sales.
c. Outdoor art and craft show and exhibits.
d. Bazaars, pony rides, festivals, and other similar events. e. Parades and other events conducted within the public right- of-way.
f. Shows of vintage automobiles or other vehicles.
g. Temporary dealership tent sales. (SPA 04-01, adopted by City Council January 10, 2005.)
2. A Temporary Use Permit shall be required for the following temporary uses subject to Section 27.03.B of the Palmdale Zoning Ordinance:
a. Christmas tree lots, pumpkin lots, haunted houses, and fireworks stands.
25 b. Circuses, carnivals, rodeos, or similar traveling amusement facilities.
D. Prohibited Uses
All other uses are prohibited unless provided for under the Specific Plan.
3.2 Setback Standards
Setback areas provide visual space, landscaping area, pedestrian circulation space, and buffers between roads, buildings, display areas, and parking areas. No building structure, or any part thereof, shall be constructed, installed, or maintained closer to a property line than described below:
1. A minimum building setback of thirty feet (30’) from the property line is required along 5th Street West and fifteen feet (15’) from Avenue P-8 and Avenue Q.
2. A minimum building setback of thirty feet (30’) from the property line is required along all interior streets.
26 27
28 3.3 Sitework Standards
3.3.1 General Requirements
All work in the roadway, which will be maintained by the City of Palmdale must be constructed to the requirements set forth in the Los Angeles County Road Department Standard Planning Manual. Refer to tentative Map for cross sections and further information.
A. Grading and Drainage
The Developer (Trakell Corporation) will provide sites that are rough graded to drain to the streets. Property owners shall finish grade their sites to satisfy their design conditions and shall provide site drainage to the street or to the storm drain system via an approved method.
B. Water
The Developer shall supply a 2 -inch domestic water line to the premises, terminating the line at the sidewalk and accompanied by a meter.
C. Sewer
The Developer shall supply a 6” lateral to each parcel, terminating it at the right-of-way line.
D. Site Access and Circulation
1. Curbs and Gutters
The Developer shall install a continuous curb and gutter, and the Property Owner shall be responsible to cut his/her own
driveways. Driveway locations must be approved by the
Developer in order to be coordinated with existing utilities. The Property Owner shall bear the sole cost for this work and shall be responsible for patching and repairing any damage done to the curb and gutter during construction.
29 2. Driveways
No driveway shall be located closer than 30 feet to the property line except where circumstances related to the configuration and location of the parcel make adherence to this standard
impractical or infeasible. Any variance from this standard must be appr oved by the Director of Planning and the City Traffic Engineer. In addition, driveways may be used for common ingress and egress to dealerships owned by the same dealer.
No site access shall be permitted from Avenue Q, P -8, or 5th Street West.
3. On-Site Circulation
On-site vehicular circulation shall be clear, direct, and efficient.
Dead-ends should be avoided. Sufficient stacking space should be provided at the service entrance as to not block other circulation or parking on site.
E. Parking
1. Parking Space Sizes
All parking spaces shall be designed following the regulations provided by the City of Palmdale.
2. Customer and Service Parking
The number of space required shall be calculated at 1 space per 500 gross square feet of building area. Additional parking for rental and leasing vehicles shall be provided at 1:1 of this number.
Limited customer parking shall be provided by the Auto Center for shared use of all Dealers. This parking will be located in the “nodes” or “roundabouts” as shown in the supporting
illustrations. Customers can also park parallel along the Auto Center avenu es. The Developer of the Auto Center is
responsible for the construction of the customer parking nodes. 30 3. Employee Parking
Parking for employees’ personal automobiles shall be provided at one space per employee on largest shift for all dealerships.
Space shall be provided on site in the shared designated areas shown on the site plan. In no event are employees allowed to park w ithin the public road -right-of-way or within the joint use parking nodes. The Auto Center Association shall provide the maintenance of the parking areas and the enforcement of the parking standards.
4. Additional Parking
Each Dealer shall provide on his/her premises separate parking spaces for any demonstrator vehicles which are driven by a company employee. Separate parking spaces shall also be provided on premises for dealer tow trucks and any other dealer vehicles. Handicap parking shall be provided on the premises as required by Title 24 of the Uniform Building Code.
F. Liquid Storage
1. All storage tanks for waste oil and fuel shall be located at the rear of the building in such a manner as not to allow general public access.
2. Liquid storage facilities above ground shall be screened and painted to match the color of the building so as not to be visible from any public areas or roadways.
3. All liquid storage facilities shall comply with all applicable codes and regulations.
G. Outdoor Auto Display
Each Dealer is encouraged to display autos in the display areas provided in the roundabouts as illustrated in the Landscape Standards.
There shall be no other Developer provided outdoor auto display areas. 31 Auto displays on the parcels shall be subject to the following restrictions:
1. No automobile shall be displayed higher than two (2) feet above finish grade unless the vehicle is housed in a raised showroom.
2. No automobile shall be tilted in such a way as to reveal the underside, unless it is in an enclosed showroom.
3. There shall be no roof-top parking and display allowed within this development.
3.3.2 General Restrictions and Requirements
A. Storage and Loading Areas
No refuse, materials, supplies, or equipment (including Dealership - owned or operated trucks) shall be stored in any area on the site except behind a screen wall, building, or inside a closed building, which blocks the material from being seen from the street or any Dealer’s Sales/Show Area. This, of course, does not apply to the Dealer’s display vehicles.
No loading or unloading of vehicles or other materials shall be permitted from Avenue P-8, Avenue Q, or 5th Street West.
B. Sound Attenuation
1. All roof top equipment, including air conditioning units, shall be hidden from view by a screen compatible with the building architecture.
2. Air compressor exhaust stacks shall contain a muffling device. 32 C. Other Requirements
1. Smoke detectors will be required to permit greater response efficiency.
2. An automatic fire sprinkler system is strongly recommended. The dealers are encouraged to check with their insurance carriers for rate reductions possible by including such a system.
3. Swamp or evaporative coolers will be allowed within the development with proper screening.
3.4 Landscape Standards
Landscaping is an important element contributing to the identity, unity, and economic success of the Antelope Valley Auto Center. As such, all landscaping for the Center is designed to:
• Promote a pleasant, distinctive, inviting environment.
• Respond to community edges in a positive manner that integrates the project into the surrounding environment.
• Utilize materials indigenous to the local environmental climate.
Thus, the landscaping design concept is focused toward:
• Providing a clean, contemporary visual appearance.
• Defining street uses with specific landscape treatments.
• Coordinating material selections with long term maintenance issue resolutions.
The site work landscape is defined as areas which fall under the Developer’s responsibility.
33 A. Streetscape Zones
The streetscape zones are the primary image structuring element for the Auto Center. The streetscape is designed to reflect a hierarchy of landscape intensity based on the perceived importance of each street edge. This hierarchy will be reflected in the design as well as in the installed cost of improvements. The internal streetscapes are designed to provide dealership security yet viewing for automobile display. This approach reinforces the site plan and helps to give the user a sense of “place” and direction when traveling around and through the site.
The landscaping along public streets is designed to provide a unified appearance along street frontages, to reinforce the street hierarchy, and to provide identities of place, particularly at intersections (roundabouts) and entrances.
34 Project Entries
There are four project entries into the Auto Center which are located along 5th Street West, Technology Drive and Avenue Q. The primary and center most entry will be aligned with the Auto Center Drive and the secondary entry is located to the north. Additional secondary entries are located on Avenue Q and Technology Drive. Each entry is landscaped. The difference between the two entry types will be in the scale of the monument sign.
35 2. Central Spine
The Central Spine will be the primary landscape identity for the Auto Center. As the westerly extension of Auto Center Drive, the Central Spine will provide a strong landscape focus and connection to the adjacent development. The Central Spine will be made up of three component areas: (1) the Palm Row,
(2) the Central Roundabout, and (3) the Pylon landscape area.
a. The Palm Row (Auto Center Drive to Central
Roundabout).
The palm row consists of a landscape median strip of
decorative pavement, a single row of California Fan
Palms (Washingtonia Filifera), and a special sidewalk
treatment on both sides of the street. (See “Auto Mall
Loop” section).
36 b. The Roundabouts
The Roundabouts are the heart and visual focus of the
Auto Center. They will include a combination of desert
landscaping and decorative pavement for the display of
vehicles along with some enhancements such as public
art, and a circle of Washingtonia Filifera palms in the outer perimeter planter. Lighting will be provided by decorative light bollards.
Roundabout Design Concept
37 c. The Pylon Landscape Area
The purpose of this area will be to provide a “window” in the Auto Center, as well as a major sign location for the freeway viewer. The pylon sign will be placed on a circular landscaped mound surrounded by decomposed granite.
38 3. Auto Center Loop Road
The Auto Center loop road should be thought of as an “interior shopping mall” avenue. There are three primary design
objectives to its design: 1) to provide maximum visibility into the parcels; 2) to provide continuity along the road; and 3) to provide a secure space for the tenants. There will be a ten foot (10’) wide parkway, including a five foot (5’) wide sidewalk, on both sides of the road. To provide security, landscaping, and con tinuity, a pre-cast 12-inch high, from finish grade, concrete square (5’ x 5’) planter is set ten feet (10’) on center along the loop road frontage in the parkway, including the roundabouts.
39 4. Fifth Street West
The 5th Street West landscape edge will be the “front facade” to the Auto Center. Given the importance of this image and relationship to adjacent developments, the landscape will be a strong feature.
Entry Design Concept
40 5. Technology Drive and Avenue Q
Abutting Technology Drive will be a required 5’6” sidewalk followed by a ten -foot (10’) landscape area and six -foot (6’) screen wall where automobile storage and service is conducted.
The plant materials will be characteristic of the region’s indigenous desert landscape.
Abutting Avenue Q will be a required five -foot (5’) sidewalk followed by an eight -foot (8’) landscape area and six -foot (6’) screen wall characteristic of the region’s indigenous desert landscape. The screen wall shall screen service and storage areas.
41 6. Screen Walls
The screen walls in the Auto Center will be a six -foot (6’) high block wall that will screen the service and storage areas of the properties and provide security. Any screen wall over 100 feet in length will be jogged to provide visual relief. This jog may be curved or straight as illustrated below and will feature some additional landscaping.
42 7. Wall Between Lot Lines
The dealer’s may choose not to construct walls on the lot lines between dealerships. If required, however, solid masonry wall or wrought iron fencing shall be permitted between property lines.
No chain link fencing is allowed within the Auto Center.
8. Freeway Landscape Edge
Abutting the westerly freeway boundary will be a screen wall with no formally planted landscape. However, once the wall is constructed on the freeway side, the native soil should be graded naturally with a smooth transition to meet the existing grade.
B. Landscape Requirements for Dealerships
1. Dealership Entry Drive
Each major entry drive will be the identification feature for each dealership. The dealership will have the opportunity of selecting from among the alternatives a typical landscape entry design as shown and outlined below.
2. Dealership Entry Drive Prototypes
43 44
3. General Parcel Landscaping
Landscaping shall be provided in areas that will enhance, accentuate, and screen those areas deemed appropriate by the designer.
a. Landscape Screening
Service areas shall be screened with landscape material.
b. Building Landscaping
Landscaping shall be located near high public visibility areas. For continuity of the Auto Center, all plants shall be selected from the designated plant list provided in these guidelines.
C. Plant Materials
1. All lots and adjacent street frontage shall be landscaped to meet the landscape goals of the Antelope Valley Auto Center. Plant materials shall conform to the following list of acceptable materials.
It is the intent of the guidelines to provide flexibility and diversity in plant selection, yet maintain a limited inventory to give greater unity to the development. The plants have been selected for their appropriateness to the climate conditions and wit h concern for maintenance.
2. Trees on individual lots shall utilize trees other than those trees specified as “street” trees as described in the Streetscape Zone.
Use of other trees shall help to clarify the thematic streetscape design.
3. Any trees used in the project shall be a 5 -gallon size minimum.
Palms shall be planted as 15-foot minimum size. All shrubs shall be a 1-gallon size minimum. Use of flowering horizontal shrubs in rock mulch is encouraged due to the lack of long- term success of herbaceous groundcovers due to the climatic setting of the Antelope Valley area. Any shrub beds shall be
45 mulched with “Walk -on Bark” to minimize evaporation, control weeds, and reduce windblown dust. All ground cover areas shall be separated from shrub areas with 6’ x 6’ concrete curbing.
4. The acceptable plant material list is:
a. Trees
Botanical Name Common Name
Acacia Gregii Catclaw Acacia
Cedrus deadora Deodar Cedar
Cercidum Desert Museum
‘Desert Museum’ Palo Verde
Cercis canadensis Redbud
Chilopsis Linearis Desert Willow
Fraximus velutina Fantex Ash
‘Rio Grande’
Fraxinus velutina Modesto Ash
Gleditsia triaceanthos Honey Locust
‘Inerinis’
Koelreuteria Golden Rain Tree
Paniculata
Lagerstroemia Crape Myrtle
‘Tuscarora’
Lagerstroemia indica Crape Myrtle
46 Liquidambar Sweet Gum
styraciflun
Magnolia grandiflora Southern Magnolia
Malus Crabapple
Quercus Virginiana Southern Live Oak
Pistacia chinensis Chinese Pistache
Prosopis Chilensis Thornless Chilean
Mesquite
Pyrus calleryana Bradford Pear
’Bradford’
Quercus kellogii California Black Oak
Quercus suber Cork Oak
Trachycarpus fortunei Windmill Palm
Vitex Agnus-Cactus Chaste Tree
Washingtonia filifera California Fan Palm
Washingtonia Robusta Mexican Fan Palm
Yucca Brevifolia Joshua Tree
Zelkova serrata Sawleaf Zelkova
47 b. Shrubs/Vines/Groundcovers
Botanical Name Common Name
Abelia grandiflora Glossy Abelia
Abelia ‘Edward Groucher’ Abelia
Achillea Filipendulina Fernleaf Yarrow
Achillea Millefolium White Yarrow
Baccharis Dwarf Coyote Bush
‘Pigeon Point’
Berberia Thumbergii Barberry
Caesalpinia Pulcherrima Red Bird of Paradise
Chaenomeles japonica Flowering Quince
Chamaerops humilis Mediterranean Fan
Palm
Chrysactinia Mexicana Damianita
Cistus Rock Rose
Convolvulus Cneorum Bush Morning Glory
Cotinus cogygria Smoke Bush
Cotoneaster lacteus Parney Cotoneaster
Juniperus app Juniper
Eleagnus Eleagus
Euonymus fortunei Winter creeper
Euonymus japonica Evergreen Euonymus
48 Gazania repens Trailing Gazania
Hypericum calycinum Creeping St. Johnswort
Juniper Chinensis Gold Lace Juniper
‘Gold Lace’
Juniperus chinensis Prostrate Juniper
Lagertroemia Indica Dwarf Red Crape Myrtle
‘Dwarf Red’
Lantana Camara New Gold Lantana
Lantana Montevidensis Purple Trailing Lantana
Leucophyllum Thunder Cloud Texas
‘Thundercloud’ Sage
Ligustrum japonica Japanese Privet
Mahonia aquifolium Oregon Holly Grape
Nandina domestica Heavenly Bamboo
Nerium oleander Oleander
Parthenocissus Boston Ivy
tricuspidata
Photinia fraserii Phontinia
Pittosporum tobira Mock Orange
Pyracantha Firethorn
Raphiolepis indica spp. India Hawthorn
Rosa banksiae Landy Bank’s Rose
49 Rosmarinus Huntington Carpet
‘Huntington Carpet’ Rosemary
Syringa Lilac
Teucrium Chamaedrys Wall Germander
Thuja orientalis Oriental Arborvita
(Platycladus)
Trachelospermum asiaticum Asian Star Jasmine
Trachycarpus fortunei Fortune Windmill
Palm
Viburnum Viburnum
Vinca major Periwinkle
Wisteria sinensis Chinese Wisteria
Yucca recurvifolia Adam’s Needle
Xylosma congestum Shiny Zylosma
c. Perennials
Botanical Name Common Name
Achillea Yarrow
Alyssum saxatile Basket-of-Gold
Coreopsis Coreopsis
Gazania ‘Copper King’ Cooper King Gazania
Hemerocallis Daylilly
50 Iris germanica Bearded Iris
Lavendual Lavendar
Narcissus Daffodil
Osteospermum African daisy
d. Agaves and Grasses
Botanical Name Common Name
Agave Blue Glow agave
‘Blue glow’
Agave Americana Century Plant
‘Blue’
Agave Americana Variegated Century Plant
‘Marginata’
Agave Americana White Striped Century
‘Medio-Picta’ Plant
Agave Angustifolia Caribbean Agave
‘Marginata’
Agave Desmettiana Variegated Smooth Agave
‘Variegata’
Agave Parryi var. Truncata Artichoke Agave
Dasylirion Wheeleri Desert Spoon
Echinocactus Grunsonii Barrel Cactus
Festuca Siskiyou Blue Fescue
‘Siskiyou Blue’
Fouquieria Splendens Ocotillo
51 Hesperaloe Parviflora Red Yucca
Hesperaloe Parviflora Yellow Yucca
‘Yellow’
Hesperoyucca Whipplei Yucca whipplei
Kniphofia Uvaria Flamengo Red Hot Poker
‘Flamengo’
Muhlenbergia Capillaris Pink Muhly
Nassellia Tenuisima Mexican Feather Grass
D. Irrigation
1. All plant materials shall be watered with an automatic irrigation system. The irrigation shall be designed to minimize overspray and runoff onto autos and adjacent paved surfaces. The
irrigation shall be controlled for seasonal conditions so that the precipitation rate does not exceed the infiltration capabilities of the soil.
2. All sprinklers next to walkways and areas of pedestrian or vehicular traffic shall be the pop -up (spring-retractable) variety.
All pop -up sprinklers shall have matched precipitation rate (MPR) spray inserts.
3. Planting areas not requiring overspray irrigation should be designed with low gallonage bubbler heads.
4. Irrigation controllers shall include the following features:
a. Independent station programming capability.
b. Repeat cycle programming.
c. Water budget feature.
d. Moisture-sensing override capability.
52 3.5 Lighting Standards
The lighting shall contribute to the safe and efficient use of the site. Lighting shall meet the retail needs of the tenants and prevent on-site lighting to cast a glare onto adjacent lots. On-site lighting shall not cast glare onto adjacent streets in such a manner as to decrease the safety of vehicular movement.
A. Guidelines
1. All lighting visible from an adjacent street, except lighting from a source 42 inches and lower, shall be cutoff and incorporate a full cutoff shield type fixture.
2. Parking areas, access drives, and internal circulation/exhibit areas light fixtures shall be black anodized aluminum “sharp cut-off” fixtures with adjustable luminaries.
3. Poles shall be black anodized aluminum and shall be
continuous to ground mounting level. Poles shall be provided with a concrete base per manufacturers design. Extend
concrete 3 feet above finished grade when exposed to auto contract, and 3 inches above finished grade otherwise, except front line cars.
4. All fixtures shall be mounted at 20 feet above finished grade.
5. All lights used in areas that are open to view from the public street shall be LED.
6. At all front-line display areas (the front row of autos adjacent to the public street), an average of 75 -100 foot candles shall be maintained with the average -minimum ratio maintained
between 2.0:1 and 3.5:1.
7. At all secondary display areas (the area bounded by the front - line display wall and the screen wall), an average of 50-75 foot candles with average-minimum ratio maintained between 2.5:1 and 4.0:1.
53 8. Where a street lighting fixture falls adjacent to a dealership lot, this pole may be incorporated by the dealership into the lighting layout for that lot. Dealership fixtures will be mounted at 20 feet and will face away from the street.
9. Building illumination and architectural lighting shall be indirect in character (no light source visible). Indirect wall lighting or “wall washing”, overhead down lighting, or interior illumination which spills outside is encouraged. Architectural lighting should articulate and animate the particular building design as well as provide the required functional lighting for safety and clarity of pedestrian movement.
10. Landscape lighting shall be held to a minimum. Wash lighting of project signs and product advertising shall utilize fixtures with hidden light sources. Landscape lighting shall be allowed on palms, specimen trees at entrances, and landscape entry walls.
11. Ambient street lighting or on -site lighting shall be adequate to provide safe light levels for all pedestrian areas.
3.6 Signage Standards (SPA 04-01, adopted by City Council January 10, 2005.)
3.6.1 Introduction
These signage standards have been developed for the Antelope Valley Auto Center and are part of the overall Specific Plan established for the project. The purpose of this Planned Sign Program is to provide a guide for the automobile dealers in the selection of placement of their signage. It is the intent to provide guidelines for a reasonable number and size of signs required for proper conduct of business, and to control the design and placement of all signage. It is also the intent that artistic flexibility be allowed, while maintaining continuity and appropriate scale to the center as a whole.
The information contained in this program as adopted by the City of Palmdale established mandatory criteria to which each sign must conform.
Each property owner m ust submit to the City of Palmdale all documents required for signage approval, in addition to all documents required for site plan review.
54 These standards shall apply to all auto dealerships and any other activity within the Antelope Valley Auto Center boundaries.
3.6.2 Definitions
As used in these guidelines, the following terms shall have the meaning given in this section.
1. Activity: A business establishment with direct access to a parking lot or public right -of-way and under separate
management from any other business establishment within the same building or structure.
2. Advertising Display: Shall mean any sign, device or contrivance, and all parts thereof, which is used to advertise products, goods, services, or activities or otherwise promote the sale of objects to identify objects for the sale thereof.
3. Alteration: Any change of copy, color, size, shape, illumination, position, location, construction, or supporting structure of a sign.
4. Animated Sign: Shall mean a sign that moves, or any portion of which moves, revolves, or rotates in any manner.
5. Antelope Valley Auto Center Association: (See definition 32.)
6. Area of a Sign: Shall mean and be computed as the entire area within a single continuous perimeter of not more than eight (8) straight lines enclosing the extreme limits of writing, representation, emblem, logo, or any figure of similar character, together with any mater ial or color forming an integral part or background of the display or used to differentiate such sign from the backdrop or structure against which it is placed. Only one face of a double -faced sign shall be considered in determining sign area provided both sides are of essentially similar design and not more than twenty - four inches (24”) apart. The supports, uprights, structures, or extraneous design features of a sign shall not be included in determining the sign area unless they are designed in such a manner as to form an integral part or background of the
55 display. In the case of individual letters or other signs placed on a wall without a border, the area shall be computed by
enclosing the outside dimensions of the letters within the sets of parallel lines.
7. Background Area of Sign: The entire area of a sign which copy could be placed.
8. Banner, Flag, Pennant or Balloon: Any cloth, bunting, plastic, or similar material used for advertising purposes and attached to, or appended on or from any structure staff, line framing, or vehicle. Flags of a nation or the State of California, when displayed in the appropriate manner, a re exempt from these regulations.
9. Building Elevation: The total area of the building’s elevation excluding the area of the roof.
10. Building Frontage: Shall mean those frontages which face upon a public or private street or parking area between such building and the street. Where a building faces two (2) or more streets, the frontage containing the principal entrance to the building shall be designated as the building frontage.
11. Changeable Copy Sign: Shall mean a sign on which message copy can be changed manually through use of attachable
letters and numerals.
12. Commercial Speech : Any message, the prevailing thrust of which is to propose a commercial transaction.
13. Convenience Sign: A sign not larger than eight square feet (8’) which provides directional or other information and is designed to be viewed on -site or adjacent to the site by motorists and pedestrians.
14. Eave: Shall mean that portion of the roof line extending beyond the building wall or canopy attachment on the wall having the simulated appearance of an eave.
56 15. Flashing Sign: Shall mean any sign which contains or is illuminated by lights which are intermittently on and off, which change in intensity, or which create the illusion of flashing in any manner.
16. Freestanding Sign: Shall mean a sign for which a building permit has been issued and is permanently supported by one or more uprights, braces, poles, or other similar structural components when utilizing earth, rock, the ground, or any foundation set in the ground as a prim ary holding base. Such signs which project through a roof projection or canopy, around which there are no enclosing walls. This definition includes “monument signs”, “pylon signs”, “ground signs”, and/or “pole signs”.
17. Grade: The elevation of the curb or sidewalk nearest the sign location.
18. Painted Sign: A wall sign painted directly onto the surface of a building or onto a separate flat surface that is attached to the side of a building.
19. Height of Sign: Shall mean the vertical distance from the average surface grade immediately surrounding the base of the sign to the top of its highest element, including any structural element. If the sign is constructed upon an artificial berm, the height of the sign as measured above, shall not exceed 200 percent (200%) of the maximum height allowed by this specific plan.
20. Illegal Sign: Any sign placed without proper approval.
21. Illuminated Sign: Shall mean any sign for which a source of light is used in order to make the message readable. This definition shall include internally and externally lighted signs and reflectorized, glowing, or radiating signs.
22. Major Occupant: The primary tenant or other primary occupant of a building or complex, designated as such by the property owner.
57 23. Noncommercial Speech: Any message that is not determined to be commercial speech as defined herein. Speech that is determined to be obscene shall not be included.
24. Occupant: Any person or organization who or which has purchased, lease, rented, or is otherwise legally entitled to occupy and use any building site(s) or building space whether or not such a right is exercised.
25. Off-Site Commercial Sign: Shall mean a sign displaying a permanent message that is not located on the site of the business, accommodations, services or commercial activity served by the sign.
26. On-Site Commercial Sign: Shall mean a sign displaying a permanent message that is located on the site of the business, accommodations, services, or commercial activity served by the sign. A parcel of record having an access easement as its only street frontage may place its on -site sign on such easement, subject to the approval of the Director of Planning.
27. Owner: Any person(s) having any estate in any lot(s) within the Antelope Valley Auto Center.
28. Planned Sign Program: Standards for the regulation of signs and other graphics throughout the Antelope Valley Auto Center.
29. Pole Sign: Any permanent freestanding sign supported by one or more posts, columns or poles that are not enclosed in a solid structure equal in width to at least one -half the sign face and where the portion of the unenclosed posts, columns or poles exceeds eighteen inches (18”) in height.
30. Temporary Sign: Shall mean any sign that is displayed for a specific period of time or event and which is removed
immediately after the completion of the event or time period.
31. Projecting Sign: Shall mean any sign which projects more than twelve inches (12”) from the wall of a building. Such
58 signs are typically oriented for pedestrian visibility and are viewed perpendicular to the face of the building.
32. Property Owners Association: Refers to the Antelope Valley Auto Center Association as established by the CC&Rs for specific properties within the Antelope Valley Auto Center (such associations are formed pursuant to the non -profit mutual benefit corporation law of the State of California), and included successors and assigns, who shall enforce compliance to all sign regulations set forth in this document.
33. Rider: Shall mean an attachment to a sign that is not an integral part of the display panel of the sign.
34. Roof Sign: Shall mean any sign erected, constructed, or placed upon or over a roof or parapet wall of a building and which is wholly or partly supported by such building.
35. Sign: Shall mean any object conveying a message and having a visual appearance primarily used for attracting public attention or patronage from the street, sidewalk or other outside public area.
36. Signable Area: The portion of a building wall that is unbroken by windows, doors, or other architectural features.
37. Street Frontage: Shall mean the linear frontage of a parcel of record on a private or public street providing its principal accessors visibility. When a parcel is served by an easement, only the frontage of that easement may be computed as street frontage.
38. Super Graphics: A graphic design which covers a wall or a major portion of a wall, building facade, or other structure. A “super graphic” is considered a sign and shall be subject to the approval procedures set forth in this manual.
39. Wall Sign: A sign attached to or erected on the exterior wall of a building or structure with the exposed face of the sign in a plane approximately parallel to the plane of the exterior wall. 59 40. Window Sign: Shall mean any sign painted, attached, glued, or otherwise affixed to a window and designed to be viewed from adjacent street, walks, or parking lots.
3.6.3 General Provision
A. General Sign Requirements and Regulations
1. Compliance Required
No person shall erect, re-erect, construct, enlarge, alter, repair, move, improve, convert, equip any sign or sign structure, or paint a wall sign or super graphics in the Auto Center or cause, or permit the same to be done, contrary to this sign program.
The Code Enforcement Division of the City of Palmdale is responsible for enforcing compliance with sign permits. Any installed, nonconforming or illegal/unapproved sign must be brought into conformance with this sign program.
2. Interpretation of Planned Sign Program Provisions
All signs to be installed within the Auto Center must be reviewed and approved by the City of Palmdale through their site plan review and/or sign application process.
3. Sign Content
All signs proposed within the Antelope Valley Auto Center may contain either commercial speech or non -commercial speech messages, or a combination of both.
4 Exempt Non-Conforming Signs
Any sign granted an exemption to this sign program criteria shall not be considered a non -conforming sign and is not subject to the compliance requirements of a non-conforming sign.
60 5. Sign Maintenance:
All signs, together with all of their supports, braces, and anchors, shall be properly maintained with respect to
appearance, structural, and electrical features. The display surface of all signs shall be kept neatly painted or posted at all times. All signs shall be subject to maintenance provisions as follows.
All signs on private property shall be subject to the following maintenance provisions: (1) rust or other corrosion due to the elements shall be removed and the sign refinished; (2) cracked or broken sign faces shall be adequately repaired or replaced; and (3) malfunctioning lamps shall be replaced. Proper and timely maintenance of all signs will be enforced a nd upon a written notice from the Building and Safety or Planning Departments, the necessary maintenance, alterations, or repairs shall be made within ten (10) days after the date of such notice.
6. Sign Construction:
All signs shall comply with the following criteria:
a. All sign illumination must be approved by the City of Palmdale.
b. All electrical signs and their installation must comply with all local and state building and electrical codes.
c. No exposed conduits, tubing, or raceways will be
permitted.
d. All labels, stamps, conductors, transformers, and other equipment shall be concealed.
e. Electrical service to all signs on privately owned property shall be on Owner’s/Occupant’s meters.
f. All exterior letters exposed to the weather shall be mounted at least 1/2” from the building wall to permit
61 proper dirt and water drainage. All bolts, fastenings, and chips shall be of stainless steel, aluminum, bras, bronze, or other non-corrosive materials. No black iron materials of any type will be permitted.
g. Sign Contractor shall repair all damage caused by his work.
h. Owner/Occupant shall be fully responsible for the
operations of their Sign Contractor.
i. All sign illumination systems shall minimize the energy needed by utilizing contemporary energy saving
techniques and materials which best fulfill the goals of the sign.
j. Sign materials shall be limited to metal, concrete, glass, and acrylic materials with UV inhibitors. All materials shall be of high quality (new and free from any defects),
durability, and require low-maintenance.
B. Exemptions to Sign Permit Requirements
The following signs shall be allowed without the requirements of a sign permit, except as specified herein in which case such signs shall comply with Section 88.04 Sign Permit Requirements and Procedures of the Palmdale Zoning Ordinance . All exempt signs shall be subject to Section A. General Sign Requirements and Regulations, above.
1. Convenience Signs
The City has a compelling interest in ensuring traffic safety, and to directly advance that interest, the City will allow on -site directional signage (convenience signs) so as to assist and direct traffic circulation into, out of, and through, parking lots on private property. All convenience signs shall have a maximum sign area of four (4) square feet. Signs shall be a maximum of four (4) feet in height. Signs may be double sided. Convenience signs shall not be allowed off -site. (Refer to Sign Type G, Exhibit S-8)
62 2. Special Event Signs/Devices
Special event signs may be approved for a limited period of time as a means of publicizing special events such as “Grand Opening”, “Under New Management”, “Inventory Sale”, or
public or charitable events. To apply for review and approval of special event signs, the applicant shall submit to the Antelope Valley Auto Center Association: (1) a letter requesting a permit to install the special event sign; (2) materials that clearly describe the proposed event sign; (3) display dates for the special event sign and (4) size and material used. The Antelope Valley Auto Center Association shall review the request within fifteen (15) working days after receipt, and shall make a determination to approve with modifications or deny the request. In accordance with the provisions of Section 27.03 of the Palmdale Zoning Ordinance, a Special Event or Temporary Use Permit shall also be obtained from the Planning
Department. Obtaining the permit shall not cause the dealers to be delayed with their special event.
3. Flags
One (1) flagpole per developed parcel with a maximum of two (2) flags, not to exceed sixty feet (60’) in height. Flags flown after dark must be illuminated by a remote light source.
Flagpoles shall not be permitted as an attention getting device.
4. Balloons. Balloons may be approved by the Director of Planning for a period of time not to exceed forty-five (45) days per year for each dealer in the AVAC Specific Plan area.
Balloons shall be securely fastened, ground -mounted and maintained in a good condition. Approval for the temporary use of balloons shall be as provided for in Number 2, Special Event Signs/Devices of this Section.
5. Light pole banners. Light pole banners as specifically allowed under Section 17.88.14 Citywide Sign Beautification Program of the Palmdale Municipal Code.
63 6. Off-site directional sign structures. Off -site directional sign structures as specifically allowed under Section 17.88.14 Citywide Sign Beautification Program of the Palmdale Municipal Code.
7. Official signs. The City has a compelling interest in facilitating traffic safety for pedestrians and motorists. This interest is directly advanced by having official signs that help direct pedestrians and motorists away from roadway hazards, toward public services, and informs those persons of the applicability of certain traffic regulations. To accomplish this compelling purpose, the City finds that it must allow for such signs to be erected, moved and changed by governmental officials with minimal regula tion from the Planning Department of the City.
For these reasons, the City hereby exempts the following signs from its sign permit requirements and development standards:
Official traffic, fire and police related signs, temporary traffic - control signs used during construction, utility facilities and substructure locations and identification signs and markers required to protect said facilities, and other signs and markers required by the City of Palmdale, the State Department of Transportation, or any other public agency.
8. Temporary signs. The City has a compelling interest in making the City attractive to residents, visitors and business owners. To accomplish this interest, the City finds it necessary to establish standards for temporary signs and to regulate their duration. All temporary signs in the Antelope Valley Auto Center shall be subject to the following:
a. No more than one (1) temporary sign shall be allowed per authorized use as specified under this section.
b. Temporary signs may be placed on private property with the owner’s permission. Nothing in this subsection shall prohibit the owner of a piece of property, or his or her authorized representative, from removing a temporary
sign from his or her property when the sign has been
erected without his or her consent; and provided, further, nothing in this subsection shall prevent the Director, Code Enforcement staff or other authorized
64 representative of the City from taking action to abate sign violations.
c. Size. Maximum area shall not exceed thirty -two (32) square feet per side. Freestanding signs shall be limited to eight (8) feet in height.
d. Temporary signs shall be non-illuminated.
e. Removal. When displayed for a specific event or activity, temporary signs shall be removed within ten (10) calendar days of the advertised event or activity.
f. Temporary non -commercial signs. No persons shall
remove, destroy, relocated, or otherwise disturb any
temporary non-commercial sign, or direct, permit or allow such removal, destruction, relocation or disturbance,
without the permission of the party who er ected the sign.
It shall be presumed, as to signs for political candidates, that the political candidate or his or her representative is the party who erected the sign. It shall further be presumed that the committee who has registered with the Secretary of State to support a position on a ballot proposition is the party who erected the sign taking the position on the ballot measure.
g. Temporary on -site commercial signs. Temporary on -site commercial signs may be displayed as follows:
1. As part of an approved Special Event or Temporary
Use Permit as specified in Article 27 (Temporary
Uses) of the Palmdale Zoning Ordinance.
2. During the period that a valid grading or building
permit exists (Refer to Sign Type H, Exhibit S-9).
3. Grand openings and anniversary events.
4. Bazaars, pony rides and festivals.
65 5. Mobile health services.
h. Inflatable displays. Inflatable displays may be approved by the Director of Planning for a period of time not to exceed an aggregate total of forty-five (45) days per calendar year and fourteen (14) consecutive days, and shall only be
approved as part of a Special Event or Temporary Use
Permit, as provided for in Section 27.03. Inflatable displays must be securely fastened, ground - mounted and
maintained in a good condition.
i. Temporary commercial signs may also display non -
commercial messages.
9. Window sign, permanent. One (1) permanent non -illuminated window sign not exceeding four (4) square feet in area.
10. Window sign, temporary. Temporary window sign not exceeding 25% of the window area provided visibility into the building is maintained.
C. Prohibited Signs
The following signs shall not be permitted in the Antelope Valley Auto Center:
1. Any sign not specifically in accordance with the provisions of the Antelope Valley Auto Center Specific Plan.
2. Signs constituting a traffic hazard, which by color, wording, design, location, or illumination resemble or conflict with any traffic-control device or with safe and efficient flow of traffic.
3. Roof mounted signs, which project above the parapet or highest point of a roof.
4. Animated or flashing signs consisting of any moving, swinging, rotating, flashing, blinking, or otherwise animated light. 66 5. Signs that create a safety hazard by obstructing clear view of pedestrian and vehicular traffic.
6. Signs projecting into the public right-of-way, with the exception of traffic control signage.
7. Banners, flags, pennants, or balloons when used for
advertising purposes unless within formats established herein.
8. Vehicle mounted or portable signs which advertise identify, or provide directions to a use or activity, that are not related to the vehicle’s lawful making of deliveries of sales or of merchandise or rendering of services.
9. Light bulb strings, other than temporary, decorative, or holiday lighting.
10. Audible signs, including signs that ring, bang, or buzz, etc.
11. Hand-painted wall, window, or ground signs of a permanent nature used to identify a company or products sold within.
12. Building mounted sign cabinets with illuminated acrylic sign face (background) and laminated acrylic copy.
13. Projecting signs suspended from a building or eave or supported by a building or structure and projecting outward there from.
14. Pole signs with the exception of convenience signs not exceeding four feet (4’) in height.
15. Riders or other attachments to an existing sign unless approved in writing by the City of Palmdale.
D. Signs Relating to Inoperative Activities
Signs pertaining to enterprises or occupants which are no longer using the premises to which the sign relates shall be painted out, obliterated, or removed from the premises within thirty (30) days after the associated enterprise or occupant has vacated the premises. Any 67 such sign not removed within the required period shall be subject to removal by the Antelope Valley Auto Center Association at the expense of the owner of said property.
E. Enforcement
Enforcement shall be pursuant to the provisions of the applicable CC&R’s and/or City Ordinances as appropriate.
F. Severability
If any provision of this document is found to be invalid by interpretation or application to any person or circumstances, such invalidity shall not affect the provisions of application thereof, which can be given valued effect.
3.6.5 Permit Requirements and Review Procedures
A. Sign Permits Required
A sign permit shall be required by the City of Palmdale prior to the placing, erecting, moving, reconstructing, altering, or displaying of any sign within the Auto Center, unless expressly exempted by the Planned Sign Program and the City of Palmdale Sign Guidelines.
B. Design Review and Approval Procedures
All commercial and convenience signage within the Auto Center development are subject to the following policies and procedures:
1. No exterior sign visible from off-site shall be erected or altered in the Auto Center until the design and specifications have been approved by the City of Palmdale.
2. All permits and fees for signs and their installation shall be obtained and paid for by the owner/occupant or his
representative.
3. Owner/Occupant shall be responsible for the fulfillment of all requirements and specifications of this document and any appropriate City Code.
68 3.6.6 Exemptions
If a dealer or property owner within the Auto Center finds that a standard in this Section seems inappropriate as applied to a particular signage situation because of special conditions or unique circumstances, a request for an exemption must be submitted to the Dealer’s Association and an application for a variance to the City of Palmdale.
3.6.7 General Auto Center Signage
Auto Center signage will be provided by the project’s Developer for the purpose of attracting customers into the Auto Center. The maintenance of these signs shall be the responsibility of the Antelope Valley Auto Center Dealers Association. Such signs may also display non -commercial messages. Auto Center identification signage shall include the following elements:
A. Freeway Oriented Pylon Sign
(Refer to Sign Type A, Exhibits S-1, S-2 and S-3). One (1) primary pylon sign located adjacent to the Antelope Valley Freeway will be provided as indicated in Exhibit S-1. The sign will be relocated from the alignment of Auto Center Drive to north of Avenue Q when State Route 138/14 is re-aligned in the future.
B. Primary and Secondary Entrance Monument Sign
(Refer to Sign Types B & C, Exhibits S -1 and S-4). One Primary and three (3) secondary Auto Center signs will be provided at the locations as indicated in Exhibit S-1
3.6.8 Dealer Signs
A. General Criteria
It is for the mutual benefit of all dealers and the City that the subject of this paragraph be carefully controlled. Nothing can detract more quickly from the quality of a center than rampant competition for attraction through the proliferation of over sca led signs, balloons, sale signs, painted windows, streamers, banners, etc.
69 1. There shall be no pennants, display flags, spinners, exposed lamps, or other attention-getting devices.
2. Paper signs, changeable copy signs or painted signs on windows or similar advertising displays may be permitted on a temporary basis.
3. No exposed raceways, ballast boxes, or transformers will be permitted.
4. Sign company names or stamps shall be concealed.
5. Locations and size of all signs shall be indicated on preliminary submittal drawings.
6. Working drawings must include sign location, design, size, colors, and specifications.
7. For dealer monument signs, the maximum height shall be measured from the nearest ground/grade level (non -elevated) paving area.
8. No roof-mounted signs shall be permitted.
9. No pole signs shall be permitted.
10. The color of signs should coordinate with the overall building color scheme and/or manufacturer’s colors (see Architectural Design Guidelines). Signs should reflect high quality design and not be “gimmicky” in use of materials, color, or form.
B. Dealer Freestanding Signs
(Refer to Sign Type D, Exhibit S-5)
In order to establish a consistent theme among dealerships, a sign program establishing common design elements must be submitted to the City for review and approval prior to the issuance of any permits for new monument signs. The sign program must be consi stent with the following criteria.
70 1. One (1) monument sign may be permitted on each driveway entrance, per dealership. For purposes of this section, a dealership occupying more than one parcel of land shall be considered one dealership. A parcel containing more than one product line shall be considered one dealership.
One (1) pylon sign up to 20’ tall per dealership. An electronic message board up to 32 square feet may be incorporated into the pylon sign and shall not extend more than ten feet (10’) above the base of the sign.
2. The background area of each dealer’s freestanding sign must not exceed ten feet (10’) high by ten feet (10’) wide. In addition, the monument and pylon signs shall be in a landscaped planter having an area equal to twice the area of one face of the sign.
There shall be no less than three feet (3’) of landscaped area on all sides at the base of the sign. The support base for manufacturers mandated signs shall be uniform in material format and height. The base material shall be specified in the sign program and shall be 18 to 24 inches in height and a minimum of five f eet (5’) in width. Sign cabinets shall be fabricated metal with acrylic copy and internally lighted if illuminated.
It is recognized that certain standard manufacturer’s signs are more easily incorporated by the dealer than custom -made signs. All such signs shall conform to the standards established in these criteria.
3. Each dealer’s sign may be double sided.
4. Location and spacing of signs are subject to review and approval by the Director of Planning and Traffic/Transportation Engineer.
C. Primary Building Mounted Signs
(Refer to Sign Type E, Exhibit S-6)
Each dealership shall be allowed one (1) primary wall mounted sign per product line on the primary building of the complex. In addition, 71 each dealership shall be allowed one (1) rear wall mounted sign per product line on the primary building of the complex for identification from the freeway. Dealers representing more than one line of automobiles will be permitted one sign per manufacturer’ s product sold on the premises.
1. The sign may measure up to one (1) square foot of sign area per two (2) lineal feet of building frontage and should be proportional to the building elevation of which it is a part (i.e., within signable area). Individual signs may be measured by the height of the letters times the length of each line of letters.
2. Signs shall not be attached to any perimeter or screen wall around the outer boundary of the Antelope Valley Auto Center Specific Plan.
3. No roof mounted signs or signs projecting above the roof shall be allowed.
4. Approved signs on the rear of buildings are also permitted.
D. Secondary Building Mounted Signs
(Refer to Sign Type F, Exhibit S -7) Each dealership shall be allowed secondary building mounted signage as follows:
1. Signs shall be constructed of individual letters. Letters may be solid dimensional non-illuminated or of illuminated pan channel or reverse channel construction. Letter finishes and
construction technique shall match the primary wall sign in color and materials.
2. Maximum letter height for all secondary information signs is 24 inches
72 73
74 75
74 PRIMARY AUTO CENTER ENTRANCE SIGN
CONCEPTUAL
B
GENERAL AUTO CENTER IDENTIFICATION
CONCEPTUAL
Exhibit S-4
SIZE TYPE D
MONUMENT SIGN
Exhibit S-5
DEALER IDENTIFICATION
SIGN TYPE D-1
PYLON SIGN
Standard poured in
place concrete base with
light sandblast finish.
Thickness of base to
match side panel depth.
Standard poured in place
concrete base with light
sandblast finish.
Thickness of base to match
side panel depth.
DEALER IDENTIFICATION
Maximum
76 77
SIGN TYPE G
CONVENIENCE SIGNS
Exhibit S-8
79 80
SECTION 4.0 RELATIONSHIP TO THE GENERAL PLAN
81 4.0 RELATIONSHIP TO THE GENERAL PLAN
A. Relationship to the Land Use Element
The Auto Center Specific Plan meets the goals and objectives of the Land Use Element of the Palmdale Community Plan by 1) centralizing commercial development in an area designated for that use; 2) increasing the economic strength of the community through t he attraction of regional, commercial, and high tax generating use; 3) locating urban development within the present urban fabric, maximizing the use of the existing public facilities; 4) providing a mechanism under which the existing public services withi n the project area can be upgraded; and 5) establishing stringent signage and landscape standards.
B. Relationship to the Human Resources Element
The provisions of the Auto Center Specific Plan are not applicable to the Human Resources Element.
C. Relationship to the Circulation Element
The Auto Center Specific Plan achieves the goals and policies set forth by the Circulation Element through upgrading the existing road system to acceptable levels of service and encouraging the construction of new roads. Under the Auto Center Specific Plan, the existing infrastructure will be expanded thus benefiting the area wide circulation system.
D. Relationship to the Public Services and Facilities Element
The Auto Center Specific Plan supports the policies of the Public Facilities Element by providing for the logical extension of Urban Services; through the construction of storm drain and other drainage improvements to reduce the flood hazard in the project area; by generating sales tax that could be used to finance needed public services.
82 E. Relationship to the Governmental Systems Element
The provisions of the Auto Center Specific Plan are not applicable to the Governmental Systems Element.
F. Relationship to the Environmental Resources Management Element
The project supports the policies of the Environmental Resources Management Element in that an Environmental Impact Report was prepared for the Auto Center project and mitigation measures identified within the study will be implemented. There are no significant on -site archaeological, cultural, or biological resources.
G. Relationship to the Noise Element
The Auto Center Specific Plan achieves the policies of the Noise Element by utilizing construction techniques, landscaping, and perimeter walls to mitigate any noise impacts resulting from the project location adjacent to the Antelope Valley Freeway. The Plan also supports the Noise Element by locating noise tolerant uses next to State Route 14.
H. Relationship to the Seismic Safety Element
The provisions of the Auto Center Specific Plan are not applicable to the Seismic Safety Element.
I. Relationship to the Public Safety Element
The provisions of the Auto Center Specific Plan are not applicable to the Public Safety Element.
J. Relationship to the Energy Conservation Element
The Auto Center Specific Plan achieves the goals of the Energy Conservation Element through encouraging the use of energy efficient building materials and construction.
SECTION 5.0 SPECIFIC PLAN ADMINISTRATION
84 5.0 SPECIFIC PLAN ADMINISTRATION
A. Design Review
Implementation of the Auto Center Specific Plan will occur pursuant to existing City Site Plan Review procedures.
Dealership Development
Upon the approval of the Specific Plan and within 60 days of the execution of the Development and Disposition Agreement with the Community Redevelopment Agency, the Dealers will prepare preliminary concept plans to be submitted to the Planning Director for review and comment. These plans will consist of the site plan and proposed elevations.
The City shall conduct a Development Advisory Review to provide general comments to the Dealer on the Preliminary Site Plan as submitted.
Following preliminary review, the Dealer shall submit a site plan, together with the payment of the applicable fees, to the City for consideration by the Design Review Board. The Site Plan submittal package shall incorporate Development Advisory Review com ments and include a site plan, drawn to scale, showing the proposed location of structures, driveways, entry details, fences, and walls; signage plan; landscaping plans; soils report and hydrological studies (both previously submitted by the Developer of t he Auto Center’s improvements; grading plan; proposed color combination for all buildings; materials board; and an example of the proposed architectural theme.
The Design Review Board shall approve or disapprove the Dealer’s Site Plan. Approval is valid for a one-year period and may be extended upon application.
85 Other Uses
Application shall be made to the Planning Department for a Conditional Use Permit. Staff shall review the applicant’s proposal and make a determination as to whether or not the proposed use is compatible with the intent and requirements of the Specific Plan as outlined in Section
3.1 (B) of the Specific Plan. Provided the use is found to be appropriate, the applicant shall proceed according to existing City procedures.
B. Amendments to the Specific Plan
The project sponsor may initiate an amendment to the Specific Plan if substantial changes are required during the life of the project. An amendment to the Specific Plan shall be made in accordance with California Government Code (Section 65453) and the City of Palmdale Development Code.
C. Expansion of the Specific Plan Area
The project proponent may from time to time, and as the need arises, petition the Planning Department to expand the Specific Plan area to properties adjacent to the Specific Plan boundary. The expansion shall be approved by the City under the current requi rements for Specific Plan amendments and Tentative Tract Map amendments provided that it is found that the type and extent of the uses proposed meet the intent of the Specific Plan policies and adhere to all planned development requirements.
BIBLIOGRAPHY
1. California Government Code Section 65450-65457; Planning and Zoning Laws, State of California; 1987
2. Specific Plans, How Some Communities Use Them; State of California, Office of Planning and Research; April 1981
3. Redevelopment Plan for Redevelopment Project Area No. 41; City of Palmdale, Community Redevelopment Agency; November 1975
4. North Los Angeles County General Plan, Palmdale Community Plan; November 1975
5. Rancho Vista Specific Plan; Cotton/Beland Associates; October 1987
6. West End Industrial Area Specific Plan; City of Simi Valley; The Planning Center; December 8, 1982
7. Chapter 22.15, City of Cerritos Zoning Ordinances; April 15, 1977
City Council Staff Report
DATE: FEBRUARY 7, 2024
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: ECONOMIC AND COMMUNITY DEVELOPMENT DEPARTMENT
PLANNING DIVISION
DISTRICT: 1
SUBJECT: INTRODUCE AND ADOPT ORDINANCE NO. 1638; APPROVING COMPREHENSIVE DEVELOPMENT PLAN 23-0003; A REQUEST TO
AMEND THE EXISTING LANGUAGE WITHIN THE ANTELOPE
VALLEY AUTO CENTER SPECIFIC PLAN TO BE CONSISTENT
WITH THE PALMDALE MUNICIPAL CODE AND FIND THAT THE
REQUEST IS EXEMPT FROM ENVIRONMENTAL REVIEW
RECOMMENDATION
The Planning Commission recommends that the City Council:
1. Receive public testimony regarding proposed Ordinance No. 1638;
2. Adopt Ordinance No. 1638 approving Comprehensive Development Plan (CDEV) 23-0003; and,
3. Find that the request is exempt from environmental review.
BACKGROUND
Project Description: CDEV 23 -0003 is a request to modify the existing language and Palmdale Municipal Code (PMC) Section references within the Antelope Valley Auto Center Specific Plan (SP) to be consistent with the zoning code update adopted in March of 2023.
On September 21, 2022, Palmdale 2045 was adopted by the City Council and replaced the previously adopted General Plan (1993). State law requires that the regulations governing the use and development of lands within the municipal limits of a city be consistent with the adopted General Plan for that city. A comprehensive zoning update was adopted by the City Council on March 15, 2023, which amended Title 17 of the PMC to implement the vision of Palmdale 2045, as well as support new land use patterns and future development. As such, City staff have identified minor changes to the (SP) document to correct zoning section references.
Report to Mayor and City Council
Re: CDEV 23-0003
February 7, 2024