Agenda packet — Palo Alto City Council, May 8, 2023 (part 3 of 4)

3.13. Building Construction (2026) - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Location TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Onsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

1.28 1.07 9.85 13.0 0.02 0.38 — 0.38 0.35 — 0.35 — 2,397 2,397 0.10 0.02 — 2,405 Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

1.28 1.07 9.85 13.0 0.02 0.38 — 0.38 0.35 — 0.35 — 2,397 2,397 0.10 0.02 — 2,405 Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
222

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Average
Daily
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.50 0.41 3.82 5.02 0.01 0.15 — 0.15 0.13 — 0.13 — 929 929 0.04 0.01 — 932 Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.09 0.08 0.70 0.92 < 0.005 0.03 — 0.03 0.02 — 0.02 — 154 154 0.01 < 0.005 — 154 Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Offsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Worker 1.55 1.51 1.02 18.3 0.00 0.00 3.96 3.96 0.00 0.93 0.93 — 4,026 4,026 0.07 0.16 14.7 4,089 Vendor 0.18 0.06 2.34 1.15 0.01 0.03 0.50 0.53 0.03 0.14 0.16 — 1,885 1,885 0.11 0.28 4.59 1,974 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Worker 1.50 1.34 1.33 15.6 0.00 0.00 3.96 3.96 0.00 0.93 0.93 — 3,730 3,730 0.10 0.17 0.38 3,782 Vendor 0.17 0.05 2.47 1.16 0.01 0.03 0.50 0.53 0.03 0.14 0.16 — 1,886 1,886 0.11 0.28 0.12 1,971 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Worker 0.57 0.51 0.45 5.97 0.00 0.00 1.52 1.52 0.00 0.35 0.35 — 1,461 1,461 0.03 0.06 2.46 1,482 Vendor 0.07 0.02 0.94 0.45 0.01 0.01 0.19 0.20 0.01 0.05 0.06 — 730 730 0.04 0.11 0.77 764 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Worker 0.10 0.09 0.08 1.09 0.00 0.00 0.28 0.28 0.00 0.06 0.06 — 242 242 0.01 0.01 0.41 245 Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
223

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Vendor 0.01 < 0.005 0.17 0.08 < 0.005 < 0.005 0.04 0.04 < 0.005 0.01 0.01 — 121 121 0.01 0.02 0.13 127 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00

3.15. Paving (2026) - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Location TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Onsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.91 0.76 7.12 9.94 0.01 0.32 — 0.32 0.29 — 0.29 — 1,511 1,511 0.06 0.01 — 1,516 Paving — 0.00 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.91 0.76 7.12 9.94 0.01 0.32 — 0.32 0.29 — 0.29 — 1,511 1,511 0.06 0.01 — 1,516 Paving — 0.00 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.11 0.10 0.90 1.25 < 0.005 0.04 — 0.04 0.04 — 0.04 — 190 190 0.01 < 0.005 — 191 Paving — 0.00 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
224

Packet Pg. 451 of 645

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Off-Road
Equipment

0.02 0.02 0.16 0.23 < 0.005 0.01 — 0.01 0.01 — 0.01 — 31.5 31.5 < 0.005 < 0.005 — 31.6 Paving — 0.00 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Offsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.05 0.05 0.03 0.57 0.00 0.00 0.12 0.12 0.00 0.03 0.03 — 126 126 < 0.005 < 0.005 0.46 128 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.05 0.04 0.04 0.49 0.00 0.00 0.12 0.12 0.00 0.03 0.03 — 117 117 < 0.005 0.01 0.01 118 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Worker 0.01 0.01 < 0.005 0.06 0.00 0.00 0.02 0.02 0.00 < 0.005 < 0.005 — 14.9 14.9 < 0.005 < 0.005 0.03 15.1 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Worker < 0.005 < 0.005 < 0.005 0.01 0.00 0.00 < 0.005 < 0.005 0.00 < 0.005 < 0.005 — 2.46 2.46 < 0.005 < 0.005 < 0.005 2.50 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00

3.17. Architectural Coating (2025) - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
225

Packet Pg. 452 of 645

Palo Alto HEU - GHG Emissions Detailed Report, 2/14/2023 26 / 53
Location TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Onsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.15 0.13 0.88 1.14 < 0.005 0.03 — 0.03 0.03 — 0.03 — 134 134 0.01 < 0.005 — 134 Architect
ural
Coatings
— 42.9 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.15 0.13 0.88 1.14 < 0.005 0.03 — 0.03 0.03 — 0.03 — 134 134 0.01 < 0.005 — 134 Architect
ural
Coatings
— 42.9 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.09 0.08 0.52 0.68 < 0.005 0.02 — 0.02 0.01 — 0.01 — 79.2 79.2 < 0.005 < 0.005 — 79.4 Architect
ural
Coatings
— 25.5 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.02 0.01 0.10 0.12 < 0.005 < 0.005 — < 0.005 < 0.005 — < 0.005 — 13.1 13.1 < 0.005 < 0.005 — 13.2 Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
226

Packet Pg. 453 of 645

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Architect
Coatings
— 4.65 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Offsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.35 0.32 0.23 3.91 0.00 0.00 0.79 0.79 0.00 0.19 0.19 — 821 821 0.01 0.03 3.24 834 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.32 0.31 0.29 3.36 0.00 0.00 0.79 0.79 0.00 0.19 0.19 — 760 760 0.02 0.03 0.08 771 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Worker 0.18 0.18 0.16 1.96 0.00 0.00 0.46 0.46 0.00 0.11 0.11 — 456 456 0.01 0.02 0.83 462 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Worker 0.03 0.03 0.03 0.36 0.00 0.00 0.08 0.08 0.00 0.02 0.02 — 75.4 75.4 < 0.005 < 0.005 0.14 76.5 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00

3.19. Architectural Coating (2026) - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Location TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
227

Packet Pg. 454 of 645

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Onsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.15 0.12 0.86 1.13 < 0.005 0.02 — 0.02 0.02 — 0.02 — 134 134 0.01 < 0.005 — 134 Architect
ural
Coatings
— 42.9 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.15 0.12 0.86 1.13 < 0.005 0.02 — 0.02 0.02 — 0.02 — 134 134 0.01 < 0.005 — 134 Architect
ural
Coatings
— 42.9 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.06 0.05 0.35 0.46 < 0.005 0.01 — 0.01 0.01 — 0.01 — 54.6 54.6 < 0.005 < 0.005 — 54.8 Architect
ural
Coatings
— 17.6 — — — — — — — — — — — — — — — —
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Off-Road
Equipment

0.01 0.01 0.06 0.08 < 0.005 < 0.005 — < 0.005 < 0.005 — < 0.005 — 9.04 9.04 < 0.005 < 0.005 — 9.07 Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
228

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————————————————3.21—Architect
ural
Coatings
Onsite
truck

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Offsite — — — — — — — — — — — — — — — — — —
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.31 0.30 0.20 3.65 0.00 0.00 0.79 0.79 0.00 0.19 0.19 — 805 805 0.01 0.03 2.94 818 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Worker 0.30 0.27 0.27 3.12 0.00 0.00 0.79 0.79 0.00 0.19 0.19 — 746 746 0.02 0.03 0.08 756 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Average
Daily
— — — — — — — — — — — — — — — — — —
Worker 0.12 0.11 0.10 1.26 0.00 0.00 0.32 0.32 0.00 0.07 0.07 — 308 308 0.01 0.01 0.52 313 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Annual — — — — — — — — — — — — — — — — — —
Worker 0.02 0.02 0.02 0.23 0.00 0.00 0.06 0.06 0.00 0.01 0.01 — 51.1 51.1 < 0.005 < 0.005 0.09 51.8 Vendor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00 Hauling 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00

4. Operations Emissions Details
Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
229

Packet Pg. 456 of 645

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4.1. Mobile Emissions by Land Use

4.1.1. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise

9.92 9.24 5.85 72.7 0.19 0.10 7.54 7.64 0.09 1.33 1.42 — 19,279 19,279 0.72 0.73 39.4 19,554 Total 9.92 9.24 5.85 72.7 0.19 0.10 7.54 7.64 0.09 1.33 1.42 — 19,279 19,279 0.72 0.73 39.4 19,554 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise

9.59 8.88 6.85 68.2 0.18 0.10 7.54 7.64 0.09 1.33 1.42 — 18,133 18,133 0.81 0.80 1.02 18,393 Total 9.59 8.88 6.85 68.2 0.18 0.10 7.54 7.64 0.09 1.33 1.42 — 18,133 18,133 0.81 0.80 1.02 18,393 Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise

1.64 1.52 1.12 11.5 0.03 0.02 1.31 1.32 0.02 0.23 0.25 — 2,879 2,879 0.12 0.12 2.68 2,921 Total 1.64 1.52 1.12 11.5 0.03 0.02 1.31 1.32 0.02 0.23 0.25 — 2,879 2,879 0.12 0.12 2.68 2,921

4.2. Energy

4.2.1. Electricity Emissions By Land Use - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Item 7
Attachment B - Draft Addendum to
the 2017 Palo Alto Comprehensive
Plan Environmental Impact Report

Item 7: Staff Report
Pg.
230

Packet Pg. 457 of 645

Palo Alto HEU - GHG Emissions Detailed Report, 2/14/2023 31 / 53
Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00
Total — — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00
Total — — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00 Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00
Total — — — — — — — — — — — — 0.00 0.00 0.00 0.00 — 0.00

4.2.3. Natural Gas Emissions By Land Use - Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise

0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00 Total 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
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Apartme
Mid Rise

0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00 Total 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00 Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise

0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00 Total 0.00 0.00 0.00 0.00 0.00 0.00 — 0.00 0.00 — 0.00 — 0.00 0.00 0.00 0.00 — 0.00

4.3. Area Emissions by Source

4.3.2. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Source TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Hearths 0.77 0.38 6.56 2.79 0.04 0.53 — 0.53 0.53 — 0.53 0.00 8,331 8,331 0.16 0.02 — 8,340 Consum
er
Products
— 13.7 — — — — — — — — — — — — — — — —
Architect
ural
Coatings
— 4.31 — — — — — — — — — — — — — — — —
Landsca
pe
Equipme
nt

3.44 3.26 0.35 37.9 < 0.005 0.01 — 0.01 0.02 — 0.02 — 101 101 < 0.005 < 0.005 — 101 Total 4.21 21.6 6.91 40.7 0.04 0.54 — 0.54 0.55 — 0.55 0.00 8,432 8,432 0.16 0.02 — 8,441 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Hearths 0.77 0.38 6.56 2.79 0.04 0.53 — 0.53 0.53 — 0.53 0.00 8,331 8,331 0.16 0.02 — 8,340 Item 7
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Consum
Products
— 13.7 — — — — — — — — — — — — — — — —
Architect
ural
Coatings
— 4.31 — — — — — — — — — — — — — — — —
Total 0.77 18.4 6.56 2.79 0.04 0.53 — 0.53 0.53 — 0.53 0.00 8,331 8,331 0.16 0.02 — 8,340 Annual — — — — — — — — — — — — — — — — — —
Hearths < 0.005 < 0.005 0.03 0.01 < 0.005 < 0.005 — < 0.005 < 0.005 — < 0.005 0.00 34.0 34.0 < 0.005 < 0.005 — 34.0 Consum
er
Products
— 2.49 — — — — — — — — — — — — — — — —
Architect
ural
Coatings
— 0.79 — — — — — — — — — — — — — — — —
Landsca
pe
Equipme
nt

0.31 0.29 0.03 3.41 < 0.005 < 0.005 — < 0.005 < 0.005 — < 0.005 — 8.24 8.24 < 0.005 < 0.005 — 8.26 Total 0.31 3.57 0.06 3.42 < 0.005 < 0.005 — < 0.005 < 0.005 — < 0.005 0.00 42.2 42.2 < 0.005 < 0.005 — 42.3

4.4. Water Emissions by Land Use

4.4.2. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 101 0.00 101 0.35 0.22 — 176
Total — — — — — — — — — — — 101 0.00 101 0.35 0.22 — 176 Item 7
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Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 101 0.00 101 0.35 0.22 — 176
Total — — — — — — — — — — — 101 0.00 101 0.35 0.22 — 176 Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 16.8 0.00 16.8 0.06 0.04 — 29.2
Total — — — — — — — — — — — 16.8 0.00 16.8 0.06 0.04 — 29.2

4.5. Waste Emissions by Land Use

4.5.2. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 222 0.00 222 22.2 0.00 — 778
Total — — — — — — — — — — — 222 0.00 222 22.2 0.00 — 778 Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 222 0.00 222 22.2 0.00 — 778
Total — — — — — — — — — — — 222 0.00 222 22.2 0.00 — 778 Item 7
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Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — 36.8 0.00 36.8 3.68 0.00 — 129
Total — — — — — — — — — — — 36.8 0.00 36.8 3.68 0.00 — 129

4.6. Refrigerant Emissions by Land Use

4.6.1. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — — — — — 4.57 4.57
Total — — — — — — — — — — — — — — — — 4.57 4.57
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — — — — — 4.57 4.57
Total — — — — — — — — — — — — — — — — 4.57 4.57
Annual — — — — — — — — — — — — — — — — — —
Apartme
nts
Mid Rise
— — — — — — — — — — — — — — — — 0.76 0.76
Total — — — — — — — — — — — — — — — — 0.76 0.76
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4.7. Offroad Emissions By Equipment Type

4.7.1. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Equipme
nt
Type
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —

4.8. Stationary Emissions By Equipment Type

4.8.1. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Equipme
nt
Type
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
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Total — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —

4.9. User Defined Emissions By Equipment Type

4.9.1. Unmitigated
Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Equipme
nt
Type
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —

4.10. Soil Carbon Accumulation By Vegetation Type

4.10.1. Soil Carbon Accumulation By Vegetation Type - Unmitigated Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Vegetatio
n
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
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Total — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —

4.10.2. Above and Belowground Carbon Accumulation by Land Use Type - Unmitigated Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Land
Use
TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Total — — — — — — — — — — — — — — — — — —

4.10.3. Avoided and Sequestered Emissions by Species - Unmitigated Criteria Pollutants (lb/day for daily, ton/yr for annual) and GHGs (lb/day for daily, MT/yr for annual) Species TOG ROG NOx CO SO2 PM10E PM10D PM10T PM2.5E PM2.5D PM2.5T BCO2 NBCO2 CO2T CH4 N2O R CO2e Daily,
Summer
(Max)
— — — — — — — — — — — — — — — — — —
Avoided — — — — — — — — — — — — — — — — — —
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Subtotal — — — — — — — — — — — — — — — — — —
Sequest
ered
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
Remove
d
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
— — — — — — — — — — — — — — — — — — —
Daily,
Winter
(Max)
— — — — — — — — — — — — — — — — — —
Avoided — — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
Sequest
ered
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
Remove
d
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
— — — — — — — — — — — — — — — — — — —
Annual — — — — — — — — — — — — — — — — — —
Avoided — — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
Sequest
ered
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
Remove
d
— — — — — — — — — — — — — — — — — —
Subtotal — — — — — — — — — — — — — — — — — —
— — — — — — — — — — — — — — — — — — —
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5. Activity Data

5.1. Construction Schedule
Phase Name Phase Type Start Date End Date Days Per Week Work Days per Phase Phase Description Demolition Demolition 2/7/2023 4/18/2023 5.00 50.0 —
Site Preparation Site Preparation 4/19/2023 5/31/2023 5.00 30.0 — Grading Grading 6/1/2023 9/14/2023 5.00 75.0 —
Building Construction Building Construction 9/15/2023 7/17/2026 5.00 740 — Paving Paving 7/31/2026 10/3/2026 5.00 46.0 —
Architectural Coating Architectural Coating 3/4/2025 7/28/2026 5.00 366 —

5.2. Off-Road Equipment

5.2.1. Unmitigated
Phase Name Equipment Type Fuel Type Engine Tier Number per Day Hours Per Day Horsepower Load Factor Demolition Concrete/Industrial
Saws
Diesel Average 1.00 8.00 33.0 0.73
Demolition Excavators Diesel Average 3.00 8.00 36.0 0.38 Demolition Rubber Tired Dozers Diesel Average 2.00 8.00 367 0.40 Site Preparation Rubber Tired Dozers Diesel Average 3.00 8.00 367 0.40 Site Preparation Tractors/Loaders/Backh
oes
Diesel Average 4.00 8.00 84.0 0.37
Grading Excavators Diesel Average 2.00 8.00 36.0 0.38
Grading Graders Diesel Average 1.00 8.00 148 0.41
Grading Rubber Tired Dozers Diesel Average 1.00 8.00 367 0.40 Grading Scrapers Diesel Average 2.00 8.00 423 0.48
Grading Tractors/Loaders/Backh
oes
Diesel Average 2.00 8.00 84.0 0.37
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Building Construction Cranes Diesel Average 1.00 7.00 367 0.29 Building Construction Forklifts Diesel Average 3.00 8.00 82.0 0.20 Building Construction Generator Sets Diesel Average 1.00 8.00 14.0 0.74 Building Construction Tractors/Loaders/Backh
oes
Diesel Average 3.00 7.00 84.0 0.37
Building Construction Welders Diesel Average 1.00 8.00 46.0 0.45 Paving Pavers Diesel Average 2.00 8.00 81.0 0.42
Paving Paving Equipment Diesel Average 2.00 8.00 89.0 0.36 Paving Rollers Diesel Average 2.00 8.00 36.0 0.38
Architectural Coating Air Compressors Diesel Average 1.00 6.00 37.0 0.48

5.3. Construction Vehicles

5.3.1. Unmitigated
Phase Name Trip Type One-Way Trips per Day Miles per Trip Vehicle Mix Demolition — — — —
Demolition Worker 15.0 11.7 LDA,LDT1,LDT2
Demolition Vendor — 8.40 HHDT,MHDT
Demolition Hauling 0.00 20.0 HHDT
Demolition Onsite truck — — HHDT
Site Preparation — — — —
Site Preparation Worker 17.5 11.7 LDA,LDT1,LDT2
Site Preparation Vendor — 8.40 HHDT,MHDT
Site Preparation Hauling 0.00 20.0 HHDT
Site Preparation Onsite truck — — HHDT
Grading — — — —
Grading Worker 20.0 11.7 LDA,LDT1,LDT2
Grading Vendor — 8.40 HHDT,MHDT
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Grading Hauling 0.00 20.0 HHDT
Grading Onsite truck — — HHDT
Building Construction — — — —
Building Construction Worker 479 11.7 LDA,LDT1,LDT2
Building Construction Vendor 71.1 8.40 HHDT,MHDT
Building Construction Hauling 0.00 20.0 HHDT
Building Construction Onsite truck — — HHDT
Paving — — — —
Paving Worker 15.0 11.7 LDA,LDT1,LDT2
Paving Vendor — 8.40 HHDT,MHDT
Paving Hauling 0.00 20.0 HHDT
Paving Onsite truck — — HHDT
Architectural Coating — — — —
Architectural Coating Worker 95.8 11.7 LDA,LDT1,LDT2
Architectural Coating Vendor — 8.40 HHDT,MHDT
Architectural Coating Hauling 0.00 20.0 HHDT
Architectural Coating Onsite truck — — HHDT

5.4. Vehicles

5.4.1. Construction Vehicle Control Strategies
Non-applicable. No control strategies activated by user.

5.5. Architectural Coatings
Phase Name Residential Interior Area Coated
(sq ft)
Residential Exterior Area Coated
(sq ft)
Non-Residential Interior Area
Coated (sq ft)
Non-Residential Exterior Area
Coated (sq ft)
Parking Area Coated (sq ft)
Architectural Coating 2,542,752 847,584 0.00 0.00 —
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5.6. Dust Mitigation

5.6.1. Construction Earthmoving Activities
Phase Name Material Imported (cy) Material Exported (cy) Acres Graded (acres) Material Demolished (sq. ft.) Acres Paved (acres) Demolition 0.00 0.00 0.00 — —
Site Preparation — — 45.0 0.00 —
Grading — — 225 0.00 —
Paving 0.00 0.00 0.00 0.00 —

5.6.2. Construction Earthmoving Control Strategies
Non-applicable. No control strategies activated by user.

5.7. Construction Paving
Land Use Area Paved (acres) % Asphalt
Apartments Mid Rise — 0%

5.8. Construction Electricity Consumption and Emissions Factors kWh per Y ear and Emission Factor (lb/MWh)
Y ear kWh per Y ear CO2 CH4 N2O
2023 0.00 0.00 0.00 0.00
2024 0.00 0.00 0.00 0.00
2025 0.00 0.00 0.00 0.00
2026 0.00 0.00 0.00 0.00

5.9. Operational Mobile Sources

5.9.1. Unmitigated
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Land Use Type Trips/Weekday Trips/Saturday Trips/Sunday Trips/Y ear VMT/Weekday VMT/Saturday VMT/Sunday VMT/Y ear Apartments Mid Rise 3,618 3,265 2,720 1,255,235 27,403 24,733 20,603 9,508,239

5.10. Operational Area Sources

5.10.1. Hearths

5.10.1.1. Unmitigated
Hearth Type Unmitigated (number)
Apartments Mid Rise —
Wood Fireplaces 0
Gas Fireplaces 339
Propane Fireplaces 0
Electric Fireplaces 0
No Fireplaces 326
Conventional Wood Stoves 0
Catalytic Wood Stoves 0
Non-Catalytic Wood Stoves 0
Pellet Wood Stoves 0

5.10.2. Architectural Coatings
Residential Interior Area Coated (sq ft) Residential Exterior Area Coated (sq ft) Non-Residential Interior Area Coated (sq ft)
Non-Residential Exterior Area Coated
(sq ft)
Parking Area Coated (sq ft)
2542752 847,584 0.00 0.00 —

5.10.3. Landscape Equipment
Season Unit Value
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Snow Days day/yr 0.00
Summer Days day/yr 180

5.11. Operational Energy Consumption

5.11.1. Unmitigated
Electricity (kWh/yr) and CO2 and CH4 and N2O and Natural Gas (kBTU/yr) Land Use Electricity (kWh/yr) CO2 CH4 N2O Natural Gas (kBTU/yr) Apartments Mid Rise 7,837,103 0.00 0.0000 0.0000 0.00

5.12. Operational Water and Wastewater Consumption

5.12.1. Unmitigated
Land Use Indoor Water (gal/year) Outdoor Water (gal/year) Apartments Mid Rise 47,436,451 0.00

5.13. Operational Waste Generation

5.13.1. Unmitigated
Land Use Waste (ton/year) Cogeneration (kWh/year)
Apartments Mid Rise 164 0.00

5.14. Operational Refrigeration and Air Conditioning Equipment

5.14.1. Unmitigated
Land Use Type Equipment Type Refrigerant GWP Quantity (kg) Operations Leak Rate Service Leak Rate Times Serviced Item 7
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10.02.502.50< 0.0052,088R-410AApartments Mid Rise Average room A/C & Other residential A/C
and heat pumps
Apartments Mid Rise Household refrigerators
and/or freezers
R-134a 1,430 0.12 0.60 0.00 1.00

5.15. Operational Off-Road Equipment

5.15.1. Unmitigated
Equipment Type Fuel Type Engine Tier Number per Day Hours Per Day Horsepower Load Factor

5.16. Stationary Sources

5.16.1. Emergency Generators and Fire Pumps
Equipment Type Fuel Type Number per Day Hours per Day Hours per Y ear Horsepower Load Factor

5.16.2. Process Boilers
Equipment Type Fuel Type Number Boiler Rating (MMBtu/hr) Daily Heat Input (MMBtu/day) Annual Heat Input (MMBtu/yr)

5.17. User Defined
Equipment Type Fuel Type
— —

5.18. Vegetation

5.18.1. Land Use Change

5.18.1.1. Unmitigated
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Vegetation Land Use Type Vegetation Soil Type Initial Acres Final Acres

5.18.1. Biomass Cover Type

5.18.1.1. Unmitigated
Biomass Cover Type Initial Acres Final Acres

5.18.2. Sequestration

5.18.2.1. Unmitigated
Tree Type Number Electricity Saved (kWh/year) Natural Gas Saved (btu/year)

6. Climate Risk Detailed Report

6.1. Climate Risk Summary
Cal-Adapt midcentury 2040–2059 average projections for four hazards are reported below for your project location. These are under Representation Concentration Pathway (RCP) 8.5 which assumes GHG emissions will continue to rise strongly through 2050 and then plateau around 2100.

Climate Hazard Result for Project Location Unit
Temperature and Extreme Heat 11.8 annual days of extreme heat Extreme Precipitation 4.05 annual days with precipitation above 20 mm Sea Level Rise 0.00 meters of inundation depth
Wildfire 10.7 annual hectares burned
Temperature and Extreme Heat data are for grid cell in which your project are located. The projection is based on the 98th historical percentile of daily maximum/minimum temperatures from observed historical data (32 climate model ensemble from Cal-Adapt, 2040–2059 average under RCP 8.5). Each grid cell is 6 kilometers (km) by 6 km, or 3.7 miles (mi) by 3.7 mi.

Extreme Precipitation data are for the grid cell in which your project are located. The threshold of 20 mm is equivalent to about ¾ an inch of rain, which would be light to moderate rainfall if received over a full day or heavy rain if received over a period of 2 to 4 hours. Each grid cell is 6 kilometers (km) by 6 km, or 3.7 miles (mi) by 3.7 mi.

Sea Level Rise data are for the grid cell in which your project are located. The projections are from Radke et al. (2017), as reported in Cal-Adapt (2040–2059 average under RCP 8.5), and consider different increments of sea level rise coupled with extreme storm events. Users may select from four model simulations to view the range in potential inundation depth for the grid cell. The four simulations make different assumptions about expected rainfall and temperature are: Warmer/drier (HadGEM2-ES), Cooler/wetter (CNRM-CM5), Average conditions (CanESM2), Range of different rainfall and temperature possibilities (MIROC5). Each grid cell is 50 meters (m) by 50 m, or about 164 feet (ft) by 164 ft.

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Wildfire data are for the grid cell in which your project are located. The projections are from UC Davis, as reported in Cal-Adapt (2040–2059 average under RCP 8.5), and consider historical data of climate, vegetation, population density, and large (> 400 ha) fire history. Users may select from four model simulations to view the range in potential wildfire probabilities for the grid cell. The four simulations make different assumptions about expected rainfall and temperature are: Warmer/drier (HadGEM2-ES), Cooler/wetter (CNRM-CM5), Average conditions (CanESM2), Range of different rainfall and temperature possibilities (MIROC5). Each grid cell is 6 kilometers (km) by 6 km, or 3.7 miles (mi) by 3.7 mi.

6.2. Initial Climate Risk Scores
Climate Hazard Exposure Score Sensitivity Score Adaptive Capacity Score Vulnerability Score Temperature and Extreme Heat N/A N/A N/A N/A
Extreme Precipitation N/A N/A N/A N/A
Sea Level Rise N/A N/A N/A N/A
Wildfire N/A N/A N/A N/A
Flooding N/A N/A N/A N/A
Drought N/A N/A N/A N/A
Snowpack Reduction N/A N/A N/A N/A
Air Quality Degradation N/A N/A N/A N/A
The sensitivity score reflects the extent to which a project would be adversely affected by exposure to a climate hazard. Exposure is rated on a scale of 1 to 5, with a score of 5 representing the greatest exposure.

The adaptive capacity of a project refers to its ability to manage and reduce vulnerabilities from projected climate hazards. Adaptive capacity is rated on a scale of 1 to 5, with a score of 5 representing the greatest ability to adapt.

The overall vulnerability scores are calculated based on the potential impacts and adaptive capacity assessments for each hazard. Scores do not include implementation of climate risk reduction measures.

6.3. Adjusted Climate Risk Scores
Climate Hazard Exposure Score Sensitivity Score Adaptive Capacity Score Vulnerability Score Temperature and Extreme Heat N/A N/A N/A N/A
Extreme Precipitation N/A N/A N/A N/A
Sea Level Rise N/A N/A N/A N/A
Wildfire N/A N/A N/A N/A
Flooding N/A N/A N/A N/A
Drought N/A N/A N/A N/A
Snowpack Reduction N/A N/A N/A N/A
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Air Quality Degradation N/A N/A N/A N/A
The sensitivity score reflects the extent to which a project would be adversely affected by exposure to a climate hazard. Exposure is rated on a scale of 1 to 5, with a score of 5 representing the greatest exposure.

The overall vulnerability scores are calculated based on the potential impacts and adaptive capacity assessments for each hazard. Scores include implementation of climate risk reduction measures.

6.4. Climate Risk Reduction Measures

7. Health and Equity Details

7.1. CalEnviroScreen 4.0 Scores
The maximum CalEnviroScreen score is 100. A high score (i.e., greater than 50) reflects a higher pollution burden compared to other census tracts in the state.

Indicator Result for Project Census Tract
Exposure Indicators —
AQ-Ozone 10.6
AQ-PM 15.6
AQ-DPM 54.0
Drinking Water 38.1
Lead Risk Housing 68.1
Pesticides 0.00
Toxic Releases 28.4
Traffic 30.2
Effect Indicators —
CleanUp Sites 73.7
Groundwater 91.9
Haz Waste Facilities/Generators 51.9
Impaired Water Bodies 23.9
Solid Waste 0.00
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Sensitive Population —
Asthma 0.66
Cardio-vascular 4.54
Low Birth Weights 36.4
Socioeconomic Factor Indicators —
Education 3.87
Housing 22.1
Linguistic 24.8
Poverty 8.07
Unemployment 29.4

7.2. Healthy Places Index Scores
The maximum Health Places Index score is 100. A high score (i.e., greater than 50) reflects healthier community conditions compared to other census tracts in the state.

Indicator Result for Project Census Tract
Economic —
Above Poverty 95.14949313
Employed 43.98819453
Median HI 99.29423842
Education —
Bachelor's or higher 99.60220711
High school enrollment 100
Preschool enrollment 73.48902862
Transportation —
Auto Access 68.11240857
Active commuting 83.57500321
Social —
2-parent households 94.40523547
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Voting 96.57384833
Neighborhood —
Alcohol availability 81.20107789
Park access 81.35506224
Retail density 46.32362376
Supermarket access 56.22994996
Tree canopy 94.4180675
Housing —
Homeownership 63.76235083
Housing habitability 86.19273707
Low-inc homeowner severe housing cost burden 41.33196458 Low-inc renter severe housing cost burden 96.25304761
Uncrowded housing 87.19363531
Health Outcomes —
Insured adults 99.75619145
Arthritis 0.0
Asthma ER Admissions 96.2
High Blood Pressure 0.0
Cancer (excluding skin) 0.0
Asthma 0.0
Coronary Heart Disease 0.0
Chronic Obstructive Pulmonary Disease 0.0
Diagnosed Diabetes 0.0
Life Expectancy at Birth 97.7
Cognitively Disabled 80.8
Physically Disabled 96.9
Heart Attack ER Admissions 93.0
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Mental Health Not Good 0.0
Chronic Kidney Disease 0.0
Obesity 0.0
Pedestrian Injuries 19.6
Physical Health Not Good 0.0
Stroke 0.0
Health Risk Behaviors —
Binge Drinking 0.0
Current Smoker 0.0
No Leisure Time for Physical Activity 0.0
Climate Change Exposures —
Wildfire Risk 0.0
SLR Inundation Area 95.8
Children 64.0
Elderly 25.8
English Speaking 76.2
Foreign-born 51.5
Outdoor Workers 79.5
Climate Change Adaptive Capacity —
Impervious Surface Cover 86.7
Traffic Density 34.0
Traffic Access 87.4
Other Indices —
Hardship 0.9
Other Decision Support —
2016 Voting 98.7
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7.3. Overall Health & Equity Scores
Metric Result for Project Census Tract
CalEnviroScreen 4.0 Score for Project Location (a) 7.00 Healthy Places Index Score for Project Location (b) 99.0 Project Located in a Designated Disadvantaged Community (Senate Bill 535) No Project Located in a Low-Income Community (Assembly Bill 1550) No Project Located in a Community Air Protection Program Community (Assembly Bill 617) No a: The maximum CalEnviroScreen score is 100. A high score (i.e., greater than 50) reflects a higher pollution burden compared to other census tracts in the state. b: The maximum Health Places Index score is 100. A high score (i.e., greater than 50) reflects healthier community conditions compared to other census tracts in the state.

7.4. Health & Equity Measures
No Health & Equity Measures selected.

7.5. Evaluation Scorecard
Health & Equity Evaluation Scorecard not completed.

7.6. Health & Equity Custom Measures
No Health & Equity Custom Measures created.

8. User Changes to Default Data
Screen Justification
Land Use Pursuant to DOF 2.51 residents per household, consistent with Pop and Housing Construction: Construction Phases Architectural coating occurs simultaneously as building construction Construction: Architectural Coatings BAAQMD Regulation 8 Rule 3, Nonflat Coating Operations: Architectural Coatings BAAQMD Regulation 8 Rule 3, Nonflat Coating Operations: Energy Use Pursuant to Palo Alto's All-Electric Ordinance, natural gas converted to electricity Operations: Water and Waste Water WTP 100% aerobic
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Appendix

C
Native American
Tribal Correspondence
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September 29, 2022
Amah Mutsun Tribal Band
Valentin Lopez, Chairperson
PO Box 5272
Galt, California 95632
Via Email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Lopez:

The City of Palo Alto , acting as the lead agency in accordance with the California Environmental Quality Act, is preparing a Supplemental EIR for its 2023-31 Housing Element Update. The proposed project consists of a complete update to the Housing Element and related edits to the City’s Comprehensive Plan Land Use Element and Palo Alto Municipal Code.

The Housing Element is one of the seven state -mandated elements of the local Comprehensive Plan and is required to be updated every eight years. The City of Palo Alto is preparing the 2023-2031 Housing Element Update to comply with the legal mandate that requires each local government to identify adequate sites for housing to meet the existing and projected housing needs for varying income -levels in the community. It is intended to provide the city with a comprehensive strategy for promoting the production of safe, decent and affordable housing, and affirmatively furthering fair housing during the housing cycle. The Housing Element Update establishes goals, policies, and actions to address the existing and projected housing needs in Palo Alto . O verall, the City’s zoning and other land use regulations must accommodate at least 6,695 new units during the 8 -year planning period in order to demonstrate to the State Department of Housing and Community Development(HCD) that the City’s Housing Element has identified adequate land use capacity and implementing policies to accommodate its Regional Housing Needs Allocation (RHNA) in addition to the identified “buffer” of 10 percent above its RHNA . By comparison, the 2017 Comprehensive Plan anticipated—and the Comprehensive Plan Environmental Impact Report evaluated —the addition of 3,545 to 4,420 .

Although no development is specifically proposed as part of the Housing Element Update , the City’s CEQA analysis will evaluate the potential buildout of these housing units within the boundaries of the City of Palo Alto. The Housing Element will also identify a list of Housing Inventory Sites which reflect the sites within the City as the highest likelihood of housing redevelopment in order to accommodate the RHNA. A map of the jurisdictions boundaries as well as a list of the draft Housing Inventory Sites is attached.

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representativ e of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Amah Mutsun Tribal Band is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52 ) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

If you wish to engage in consultation under AB 52 (California Public Resources Code § 21080.3.1) for t his or future projects, you may submit a written request for notification of proposed projects. In accordance with AB 52 your tribe has 30 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Under the provisions of SB 18, your tribe has 90 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Therefore, the City respectfully requests receipt of any questions or comments on this project Item 7
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within 90 days of receipt of this letter. If you require any additional information or have any questions, please contact me at (650) 289-2493 or via e-mail at [email protected]. Thank you for your assistance.

Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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September 29, 2022
Amah Mutsun Tribal Band of Mission San Juan Bautista
Irene Zwierlein, Chairperson
3030 Soda Bay Road
Lakeport, California 95453
Via email: [email protected]

Dear Chairperson, Zwierlein:

The Housing Element is one of the seven state -mandated elements of the local Comprehensive Plan and is required to be updated every eight years. The City of Palo Alto is preparing the 2023-2031 Housing Element Update to comply with the legal mandate that requires each local government to identify adequate sites for housing to meet the existing and projected housing needs for varying income -levels in the community. It is intended to provide the city with a comprehensive strategy for promoting the production of safe, decent and affordable housing, and affirmatively furthering fair housing during the housing cycle. The Housing Element Update establishes goals, policies, and actions to address the existing and projec ted housing needs in Palo Alto . O verall, the City’s zoning and other land use regulations must accommodate at least 6,695 new units during the 8 -year planning period in order to demonstrate to the State Department of Housing and Community Development(HCD) that the City’s Housing Element has identified adequate land use capacity and implementing policies to accommodate its Regional Housing Needs Allocation (RHNA) in addition to the identified “buffer” of 10 percent above its RHNA . By comparison, the 2017 Com prehensive Plan anticipated—and the Comprehensive Plan Environmental Impact Report evaluated —the addition of 3,545 to 4,420 .

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Amah Mutsun Tribal Band of Mission San Juan Bautista is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

If you wish to engage in consultation under AB 52 (California Public Resources Code § 21080.3.1) for t his or future projects, you may submit a written request for notification of proposed projects. In accordance with AB 52 your tribe has 30 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Under the provisions of SB 18, your tribe has 90 days from receipt of this letter to respond in writin g if you wish to consult on the proposed project. Therefore, the City respectfully requests receipt of any questions or comments on this project within 90 days of receipt of this letter. If you require any additional information or have any questions, please contact me at (650) 289-2493 or via e-mail at [email protected] . Thank you for your assistance.

Sincerely,
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Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

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September 29, 2022
Indian Canyon Mutsun Band of Costanoan
Kanyon Sayers-Roods, MLD Contact
1615 Pearson Court
San Jose, California 95122
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Sayers-Roods:

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of Indian Canyon Mutsun Band of Costanoan is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

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Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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September 29, 2022
Indian Canyon Mutsun Band of Costanoan
Ann Marie Sayers, Chairperson
P.O. Box 28
Hollister, California 95024
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Marie Sayers:

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Indian Canyon Mutsun Band of Costanoan is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

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Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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September 29, 2022
Muwekma Ohlone Indian Tribe of the SF Bay Area
Monica Arellano, Vice Chairwoman
20885 Redwood Road, Suite 232
Castro Valley, California 94546
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Arellano:

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Muwekma Ohlone Indian Tribe of the SF Bay Area is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

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Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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September 29, 2022
The Ohlone Indian Tribe
Andrew Galvan
P.O. Box 3388
Fremont, California 94539
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Galvan:

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided you r name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Ohlone Indian Tribe is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

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Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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September 29, 2022
Wuksache Indian Tribe/Eshom Valley Band
Kenneth Woodrow, Chairperson
1179 Rock Haven Ct.

Salinas, California 93906
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Woodrow:

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Wuksache Indian Tribe/Eshom Valley Band is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

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Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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June 21, 2022

Tamien Nation
Quirina Luna Geary, Chairperson
P.O. Box 8053
San Jose, California 95155
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson Geary:

The City of Palo Alto, acting as the lead agency in accordance with the California Environmental Quality Act, is preparing a Supplemental EIR for its 2023- 31 Housing Element Update. The proposed project consists of a complete update to the Housing Element and related edits to the City’s Comprehensive Plan Land Use Element and Palo Alto Municipal Code.

The Housing Element is one of the seven state -mandated elements of the local Comprehensive Plan and is required to be updated every eight years. The City of Palo Alto is preparing the 2023-2031 Housing Element Update to comply with the legal mandate that requires each local government to identify adequate sites for housing to meet the existing and projected housing needs for varying income -levels in the commun ity. It is intended to provide the city with a comprehensive strategy for promoting the production of safe, decent and affordable housing, and affirmatively furthering fair housing during the housing cycle. The Housing Element Update establishes goals, pol icies, and actions to address the existing and projected housing needs in Palo Alto . O verall, the City’s zoning and other land use regulations must accommodate at least 6,695 new units during the 8 -year planning period in order to demonstrate to the State Department of Housing and Community Development (HCD) that the City’s Housing Element has identified adequate land use capacity and implementing policies to accommodate its Regional Housing Needs Allocation (RHNA) in addition to the identified “buffer” of 10 percent above its RHNA . By comparison, the 2017 Comprehensive Plan anticipated —and the Comprehensive Plan Environmental Impact Report evaluated —the addition of 3,545 to 4,420. Although no development is specifically proposed as part of the Housing Element Update, the City’s CEQA analysis will evaluate the potential buildout of these housing units within the boundaries of the City of Palo Alto. The Housing Element will also identify a list of Housing Inventory Sites which reflect the sites within the City as the highest likelihood of housing redevelopment in order to accommodate the RHNA. A map of the jurisdictions boundaries as well as a list of the draft Housing Inventory Sites is attached.

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Tamien Nation is important to the City of Palo Alto’s plan ning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially provide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

In accordance with AB 52 your tribes have 30 days from receipt of this letter to respond in writing if you wish to consult on the proposed p roject. Under the provisions of SB 18, your tribe has 90 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Therefore, the City respectfully requests receipt of any questions or comments on this project w ithin 90 days of receipt of this letter. If you require any additional Item 7
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information or have any questions, please contact me at (650) 329-2493 or via e-mail at [email protected].

Thank you for your assistance.

Sincerely,

Tim Wong
Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

Item 7
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Plan Environmental
Impact Report

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Tamien Nation September 29, 2022
Johnathan Wasaka Costillas, THPO
P.O. Box 866
Clearlake Oaks, California 94523
Via email: [email protected]

RE: Assembly Bill 52 and Senate Bill 18 Consultation, City of Palo Alto 2023-31 Housing Element Update, Palo Alto, California

Dear Chairperson, Costillas:

The Housing Element is one of the seven state -mandated elements of the local Comprehensive Plan and is required to be updated every eight years. The City of Palo Alto is preparing the 2023-2031 Housing Element Update to comply with the legal mandate that requires each local government to identify adequate sites for housing to meet the existing and projected housing needs for varying income -levels in the community. It is intended to provide the city with a comprehensive strategy for promoting the production of safe, decent and affordable housing, and affirmatively furthering fair housing during the housing cycle. The Housing Element Update establishes goals, policies, and actions to address the existing and projected housing needs in Palo Alto . O verall, the City’s zoning and other land use regulations must accommodate at least 6,695 new units during the 8 -year planning period in order to demonstrate to the State Department of Housing and Community Development (HCD) that the City’s Housing Element has identified adequate land use capacity and implementing policies to accommodate its Regional Housing Needs Allocation (RHNA) in addition to the identified “buffer” of 10 percent above its RHNA . By comparison, the 2017 Comprehensive Plan anticipated —and the Comprehensive Plan Environmental Impact Report evaluated —the addition of 3,545 to 4,420. Although no development is specifically proposed as part of the Housing Element Update, the City’s CEQA analysis will evaluate the potential buildout of these housing units within the boundaries of the City of Palo Alto. The Housing Element will also identify a list of Housing I nventory Sites which reflect the sites within the City as the highest likelihood of housing redevelopment in order to accommodate the RHNA. A map of the jurisdictions boundaries as well as a list of the draft Housing Inventory Sites is attached.

The City of Palo Alto is sending this letter because the Native American Heritage Commission has provided your name as a representative of a tribe that is traditionally and culturally affiliated with the geographic area of the proposed project. The input of the Tamien Nation is important to the City of Palo Alto’s planning process and we invite you to engage in scoping consultation pursuant to Government Code §65352.4 (Assembly Bill 52) and Government Code § 65352.3– 65352.4 (Senate Bill 18) or to confidentially prov ide any information you have regarding Native American cultural resources located in or near the proposed project area that may be affected by project activities.

If you wish to engage in consultation under AB 52 (California Public Resources Code § 21080.3 .1) for this or future projects, you may submit a written request for notification of proposed projects. In accordance with AB 52 your tribe has 30 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Under the provisions of SB 18, your tribe has 90 days from receipt of this letter to respond in writing if you wish to consult on the proposed project. Therefore, the City respectfully requests receipt of any questions or comments on this project within 90 days of receipt of this letter. If you require any additional information or have any questions, please contact me at (650) 329-2493 or via e-mail at [email protected] . Thank you for your assistance.

Sincerely,

Tim Wong
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Senior Planner
City of Palo Alto, Planning and Development Services Department

Enclosure:

Regional Location Map

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RESOLUTION NO. _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALO ALTO, APPROVING AN ADDENDUM TO THE 2017 COMPREHENSIVE PLAN FINAL ENVIRONMENTAL IMPACT REPORT, AND ADOPTING A COMPREHENSIVE PLAN AMENDMENT TO REPEAL THE 2015-2023

HOUSING ELEMENT AND ADOPT THE HOUSING ELEMENT OF THE COMPREHENSIVE PLAN FOR THE PERIOD OF 2023-2031 IN COMPLIANCE WITH STATE HOUSING ELEMENT LAW.

RECITALS
A. California Government Code Section 65300 et seq. requires every city and county in California to adopt a General Plan, known in Palo Alto as its Comprehensive Plan, for its long-range development, and further, to periodically to update that plan to reflect current issues and conditions; and

B. On November 13, 2017, the City Council for the City of Palo Alto (City) certified a Final Environmental Impact Report (EIR) for the City of Palo Alto Comprehensive Plan 2030 through Resolution No. 9720, made findings in relation to the Final EIR, adopted a mitigation monitoring and report plan (MMRP), and adopted a statement of overriding considerations through Resolution No. 9721 and adopted the City of Palo Alto Comprehensive Plan 2030 through Resolution No. 9722; and

C. Government Code Section 65302 mandates that every city and county shall include a Housing Element in its General Plan, and that the Housing Element be updated regularly on a schedule set forth in the law to reflect current conditions and legal requirements; and

D. State Housing Element Law (Government Code Sections 65580 et seq.) requires that the City Council adopt a Housing Element for the eight-year period 2023-2031 to accommodate the City of Palo Alto (City) regional housing need allocation (RHNA) of 6,086 housing units, comprised of 1,556 very-low income units, 896 low-income units, 1,013 moderate-income units, and 2,621 above moderate-income units; and

E. To comply with State Housing Element Law, the City has prepared the Housing Element 2023-2031 (the Housing Element) in compliance with State Housing Element Law and has identified sites that can accommodate housing units meeting the City’s RHNA; and

F. As provided in Government Code Section 65350 et. seq., adoption of the Housing Element constitutes a General Plan Amendment and also qualifies as a project under the California Environmental Quality Act (CEQA); and

G. Pursuant to the provisions and requirements of CEQA and CEQA Guidelines Section 15164, the City as lead agency, prepared an Addendum to the 2017 Comprehensive Plan Final EIR (the Addendum) to analyze the potential environmental impacts resulting from adopting the 2023-2031 Housing Element, which Addendum is attached hereto as Exhibit E and incorporated by this reference; and
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H. The Addendum analyzes the environmental impacts of the 2023-2031 Housing Element and the Addendum, in conjunction with the 2017 Comprehensive Plan Final EIR, is the environmental document upon which adoption of the 2023-2031 Housing Element is predicated; and

I. As provided in Government Code sections 65352 – 65352.5 the City mailed a public notice to all California Native American tribes provided by the Native American Heritage Commission and to other entities listed; and

J. No California Native American tribe requested consultation; and

K. The City conducted extensive community outreach in multiple languages over the past two years including fifteen meetings of the Housing Element Working Group, eight meetings of the City Council Housing Element Ad Hoc Committee, two community workshops, dissemination of a housing survey, numerous meetings with special interest groups such as the Palo Alto Renters Association, Housing Choices, and Ability Path, four meetings of the Planning and Transportation Commission (PTC), three meetings of the City Council, and two joint meetings of the PTC and City Council; and

L. In accordance with Government Code Section 65585 (b), on November 7, 2022, the City posted the draft Housing Element and requested public comment for a 30-day review period, and on December 23, 2022, after responding to public comments, the City submitted the draft Housing Element to the State Department of Housing and Community Development (HCD or Department) for its review; and

M. On March 8, 2023, the PTC held a duly and properly noticed public hearing to consider a draft of the Addendum and the initial draft of the 2023-2031 Housing Element, and unanimously recommended that the City Council adopt the draft 2023-2031 Housing Element, subject to refinement following formal comment by HCD.

N. In February 2023, prior to receiving HCD’s formal findings regarding the draft Housing Element, the City contacted HCD discuss preliminary comments on the adequacy of the draft Housing Element; and

O. On March 23, 2023, the City received a letter from HCD, attached as Exhibit B to this Resolution, providing its findings regarding the draft Housing Element, and based upon this, City staff and consultants revised the draft Housing Element to include additional information and data; and

P. On April 27, 2023, the City published a revised draft Housing Element responding to HCD’s findings and requested public comment on the draft; and

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Q. On May 8, 2022, the PTC held a duly and properly noticed joint public hearing with the City Council and recommended that the City Council adopt the Housing Element; and

R. On May 8, 2022, the City Council conducted a duly and properly joint noticed public hearing with the PTC to take public testimony, consider the 2017 Comprehensive Plan EIR and EIR Addendum, reviewed the Housing Element and all pertinent maps, documents and exhibits, including HCD’s findings, the City’s response to HCD’s findings, the staff report, and all attachments, and oral and written public comments.

NOW, THEREFORE, BE IT RESOLVED, that the City Council hereby finds that, based on substantial evidence in the record:

1. The foregoing recitals are true and correct and are incorporated by reference into this action.

2. The record of proceedings upon which the City Council bases its decision herein includes, but is not limited to: (1) the Addendum and the 2017 Comprehensive Plan Final EIR including all appendices and attachments cited and/or relied upon therein; (2) the staff reports, City files and records and other documents prepared for and/or submitted to the City relating to the 2017 Comprehensive Plan Final EIR, the Addendum, and the 2023-2031 Housing Element; (3) the evidence, facts, findings, and other determinations set forth in this Resolution; (4) the 2017 Comprehensive Plan; (5) all studies, data, and correspondence submitted by the City in connection with the Addendum and the 2023-2031 Housing Element; (6) all documentary and oral evidence received at public workshops, meetings, and hearings; (7) all other matters of common knowledge to City decisionmakers, including City, state, and federal laws, policies, rules, and regulations, reports, records, and projections related top development within the City of Palo Alto and its surrounding areas. The location and custodian of records is the City Clerk of the City of Palo Alto, 250 Hamilton Avenue, Palo Alto, CA 94305.

3. Based on the record of proceedings as a whole, the City Council approves the Addendum to the 2017 Comprehensive Plan Final EIR and makes the following findings and declarations:
a. That the 2023-2031 Housing Element represents only incremental change over the conditions studied in the 2017 Comprehensive Plan Final EIR. b. The MMRP adopted in conjunction with the 2017 Comprehensive Plan included all mitigation measures necessary to mitigate the most impactful scenarios contemplated in the 2017 Comprehensive Plan EIR.
c. None of the conditions described in CEQA Guidelines Section 15162 calling for the preparation of a Subsequent EIR or Supplemental EIR are present, as set forth in the Addendum.
d. Any modifications to the 2023-2031 Housing Element directed by the City Council on May 8, 2023 do not change the conclusions of the Addendum and the 2017 Comprehensive Plan Final EIR.
e. The Addendum has been prepared in accordance with CEQA and the State CEQA Guidelines and reflects the independent judgment of the City as lead agency.

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f. All mitigation measures included in the MMRP for the 2017 Comprehensive Plan Final EIR will continue to be required, as part of the adoption of the 2023-2031 Housing Element.

4. Based on the record of proceedings as a whole, the City Council makes the following findings and declarations regarding the 2023-2031 Housing Element, as shown in Exhibit A to this Resolution, incorporated herein:
a. Adoption of the 2023-2031 Housing Element is in the public interest. The 2023-2031 Housing Element promotes the production of the City’s share of regional housing need for all segments of the community, which is in the interest of the City, the region, and the state.
b. The 2023-2031 Housing Element is internally consistent and consistent with the rest of the Comprehensive Plan. As an integrated set of goals, policies, programs, and timelines, and quantified objectives, the 2023-2031 Housing Element does not approve any specific development projects; it acknowledges land use and zoning changes that will be required and therefore it creates no inconsistencies with the Comprehensive Plan. c. The 2023-2031 Housing Element was developed through diligent effort by the City to achieve public participation of all segments of the community, as described in Chapter 1 of the 2023—2031 Housing Element.
d. The 2023-2031 Housing Element substantially complies with all requirements of Housing Element Law, as provided in Government Code 65580 et seq., and contains all provisions required by State Housing Element Law, as shown in Exhibit D to this Resolution, incorporated herein.

5. Based on substantial evidence in the record, including, but not limited to, the analyses provided in Chapters 3 and 4 of the 2023-2031 Housing Element, the City’s experience with the redevelopment of non-vacant and commercially developed sites for housing, strong expressed interest from property owners and developers, and the numerous policies and programs in Chapter 5 of the 2023-2031 Housing Element aimed at reducing constraints to housing development and otherwise increasing housing supply, the existing uses on the non-vacant sites identified in the site inventory to accommodate the RHNA are likely to be integrated with new residential uses or discontinued during the planning period and therefore do not constitute an impediment to planned residential development on the site during the planning period.

6. As required by Government Code Section 65585(e), the City Council has considered the findings made by the Department of Housing and Community Development included in the Department’s letter to the City dated March 23, 2023, consistent with Government Code Section 65585(f), and as described in Exhibit C to this Resolution, incorporated herein, the City Council has changed the Housing Element in response to the findings of the Department to substantially comply with the HCD’s interpretation of the requirements of State Housing Element Law.

7. The 2015-2023 Housing Element is hereby repealed in its entirety, and the 2023-2031 Housing Element is adopted.

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8. The City Council intends to complete the HCD review process to obtain an HCD findings of substantial compliance and certification and hereby directs and authorizes the Director of Planning and Development Services: a) to file all necessary material with the HCD for the Department to find that the Housing Element is in conformance with State Housing Element Law; and b) to make all non-substantive changes to the Housing Element to make it internally consistent or to address any non-substantive changes or amendments requested by the Department to achieve certification.

9. The Director of Planning and Development Services is hereby directed to ensure that the adopted Housing Element, including any additional amendments, is posted to the City’s website, and a link emailed to all individuals and organizations that have previously requested notices, at least seven days prior to submission to HCD.

10. The Director of Planning and Development Services and City Clerk are hereby directed to distribute copies of the Housing Element in the manner provided in Government Code Sections 65357 and 65589.7.

11. This Resolution shall become effective upon adoption by the City Council.

INTRODUCED and PASSED:

AYES:

NOES:

ABSENT:

ABSTENTIONS:

ATTEST:

____________________________ ____________________________ City Clerk Mayor

APPROVED AS TO FORM: APPROVED:

____________________________ ____________________________ Assistant City Attorney City Manager

____________________________
Director of Planning and
Development Services
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Exhibit A: 2023-2031 Housing Element
Exhibit B: HCD Finding Letter, dated March 23, 2023
Exhibit C: Response to HCD Findings
Exhibit D: Housing Element Statutory Provisions Checklist Exhibit E: Addendum to the 2017 Comprehensive Plan Final EIR

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Exhibit A

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Exhibit B

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Exhibit C

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Exhibit D

This exhibit will be provided with the agenda packet published on May 4, 2023

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Exhibit E

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STATE OF CALIFORNIA - BUSINESS, CONSUMER SERVICES AND HOUSING AGENCY GAVIN NEWSOM, Governor

DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT

DIVISION OF HOUSING POLICY DEVELOPMENT
2020 W. El Camino Avenue, Suite 500
Sacramento, CA 95833
(916) 263-2911 / FAX (916) 263-7453
www.hcd.ca.gov

DATE 23, 2023

Jonathon Lait, Planning Director
Department of Planning and Development
City of Palo Alto
250 Hamilton Avenue, Fifth Floor
City of Palo Alto, CA 94301

Dear Jonathon Lait:

RE: City of Palo Alto’s 6
th Cycle (2023-2031) Draft Housing Element

Thank you for submitting the City of Palo Alto’s (City) draft housing element received for review on December 23, 2022. Pursuant to Government Code section 65585, subdivision (b), the California Department of Housing and Community Development (HCD) is reporting the results of its review. HCD considered comments from David Kellogg, Greenbelt Alliance; Stuart L. Klein, Ian Faucher, Rob Neilson, Scott O’Neil and Robert Chun, Palo Alto Moving Forward; Salim Damerdji, Sidharth Kapur, Steve Levy, Greg Schmid, Kelsey Banes, Emily Ramos, and the League of Women Voters; pursuant to Government Code section 65585, subdivision (c).

The draft element addresses many statutory requirements; however, revisions will be necessary to comply with State Housing Element Law (Article 10.6 of the Gov. Code).

The enclosed Appendix describes the revisions needed to comply with State Housing Element Law.

As a reminder, the City’s 6th cycle housing element was due January 31, 2023. As of today, the City has not completed the housing element process for the 6th cycle. The City’s 5th cycle housing element no longer satisfies statutory requirements. HCD encourages the City to revise the element as described above, adopt, and submit to HCD to regain housing element compliance.

For your information, pursuant to Assembly Bill 1398 (Chapter 358, Statutes of 2021), if a local government fails to adopt a compliant housing element within 120 days of the statutory deadline (January 31, 2023), then any rezoning to make prior identified sites available or accommodate the regional housing needs allocation (RHNA) shall be completed no later than one year from the statutory deadline pursuant to Government Code sections 65583, subdivision (c) (1) and 65583.2, subdivision (c). Otherwise, the local government’s housing element will no longer comply with State Housing Element Item 7
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Erin Morris, Planning Director

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Law, and HCD may revoke its finding of substantial compliance pursuant to Government Code section 65585, subdivision (i). Please be aware, if the City fails to adopt a compliant housing element within one year from the statutory deadline, the element cannot be found in substantial compliance until these rezones are completed.

Public participation in the development, adoption and implementation of the housing element is essential to effective housing planning. Throughout the housing element process, the City should continue to engage the community, including organizations that represent lower-income and special needs households, by making information regularly available and considering and incorporating comments where appropriate. Please be aware, any revisions to the element must be posted on the local government’s website and to email a link to all individuals and organizations that have previously requested notices relating to the local government’s housing element at least seven days before submitting to HCD.

Several federal, state, and regional funding programs consider housing element compliance as an eligibility or ranking criteria. For example, the CalTrans Senate Bill (SB) 1 Sustainable Communities grant; the Strategic Growth Council and HCD’s Affordable Housing and Sustainable Communities programs; and HCD’s Permanent Local Housing Allocation consider housing element compliance and/or annual reporting requirements pursuant to Government Code section 65400. With a compliant housing element, the City meets housing element requirements for these and other funding sources.

For your information, some general plan element updates are triggered by housing element adoption. HCD reminds the City to consider timing provisions and welcomes the opportunity to provide assistance. For information, please see the Technical Advisories issued by the Governor’s Office of Planning and Research at:
https://www.opr.ca.gov/planning/general-plan/guidelines.html

HCD appreciates the commitment and cooperation of the housing element update team during the update and our review. We are committed to assisting the City in addressing all statutory requirements of State Housing Element Law. If you have any questions or need additional technical assistance, please contact Irvin Saldana, of our staff, at [email protected]
.

Sincerely,

Melinda Coy
Proactive Housing Accountability Chief

Enclosure
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City of Palo Alto’s 6th Cycle (2023-2031) Draft Housing Element Page 1 March 23, 2023

APPENDIX

CITY OF PALO ALTO

The following changes are necessary to bring the City’s housing element into compliance with Article 10.6 of the Government Code. Accompanying each recommended change, we cite the supporting section of the Government Code.

Housing element technical assistance information is available on HCD’s website at https://www.hcd.ca.gov/planning-and-community-development/hcd-memos Among other resources,
the housing element section contains HCD’s latest technical assistance tool, Building Blocks for Effective Housing Elements (Building Blocks), available at https://www.hcd.ca.gov/planning-and -
community-development/housing-elements/building-blocks an d includes the Government Code addressing State Housing Element Law and other resources.

A. Review and Revision

Review the previous element to evaluate the appropriateness, effectiveness, and progress in implementation, and reflect the results of this review in the revised element. (Gov. Code, § 65588 (a) and (b).)

Special Housing Needs: The element must provide an evaluation of the cumulative effectiveness of past goals, policies, and related actions in meeting the housing needs of special needs populations (e.g., elderly, persons with disabilities, large households, female-headed households, farmworkers, and persons experiencing homelessness) and revise programs as appropriate. In addition to evaluating progress or effectiveness of programs to address special needs groups, the element can also discuss the results, success, or lack of, challenges and opportunities from outreach, coordination, application for funding, incentives or other activities and then discuss potential strategies set forth in the current element to meet the need.

B. Housing Needs, Resources, and Constraints

Fair Housing Enforcement and Capacity: While the housing element includes a summary of fair housing enforcement and outreach capacity at the county level, it must also quantify and evaluate complaints at the City level. In addition, the element should discuss how the City complies with existing fair housing laws and regulations, any past fair housing lawsuits, consent decrees or other related legal matters.

Patterns and Trends: While the element reports general information and data, it must analyze this data for trends over time, patterns across census tracts, and coincidence with other components of the assessment of fair housing. Moreover, the element must supplement existing data with local data and knowledge and other relevant factors were Item 7
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applicable. Lastly, the element provides an evaluation of fair housing data on a regional basis that is generally limited, comparing only a few fair housing topics within Santa Clara County and providing no analysis to the surrounding South Bay region. Once complete, the assessment of fair housing must include appropriate programmatic responses to encourage housing mobility and promote new affordable housing opportunities throughout the City, regardless of the regional housing need allocation (RHNA).

Racially Concentrated Areas of Poverty (R/ECAPs): The element mentions that there are no racially concentrated areas of poverty within City; however, the element does provide analysis on distinct areas of poverty/lower income; and identifies two census tracts with 10-40 percent of the population below the poverty line. The analysis should include local data and knowledge to further evaluate patterns and changes overtime at a local (e.g., neighborhood to neighborhood) level and provide appropriate programmatic responses to address ongoing patterns and trends.

Racially Concentrated Areas of Affluence (RCAA): The element identified a total of 10 census tracts within City that qualified as RCAA; however, and as mentioned above, element provides limited analysis on the factors that contribute to this outcome. This analysis should utilize local data and knowledge and other relevant factors to achieve a comprehensive analysis. For example, the element could examine past land use practices, investments, quality of life relative to the rest of the City and region and then formulate appropriate programs to promote more inclusive communities and equitable quality of life. For example, the City should consider additional actions (not limited to the RHNA) to promote housing mobility and improve new housing opportunities throughout the City.

Disparities in Access to Opportunity: The element provides datapoints and a general analysis on accesses opportunity including, education, economic, transportation and environmental outcomes; however, the element should analyze these data points for trends and patterns throughout the City, and any concentrations or coincidences with other components of the fair housing analysis. A complete analysis should revise and or provide additional policies and programs that meet the need of each of the components mentioned above.

Disproportionate Housing Needs including Displacement: The element provides some analysis on overcrowding, overpayment, substandard housing, homelessness, and displacement risk; however, the element must analyze the data for local and regional patterns for overcrowding, overpayment, and substandard housing including any identified trends and coincidence with other components of the fair housing assessment. In addition, the element briefly mentions persons experiencing homelessness, but should provide additional information on the need, including, impacts and patterns within the City. For instance, the element should examine disproportionate impacts on protected characteristics (e.g., race, disability) and patterns of need, including access to transportation and services. Lastly, the element must describe characteristics of existing “sensitive communities” found on figures C-45 and 46 of the element.

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Identified Sites and Affirmatively Furthering Fair Housing (AFFH): The element must include data on the location of regional housing need allocation (RHNA) sites by income group relative to all fair housing components. The analysis should address the isolation of the RHNA by income group, specifically in the GM and ROLM zones (p. C-86) magnitude of the impact on existing concentrations of socio-economic characteristics and discuss how the sites improve fair housing conditions. The analysis should be supported by local data and knowledge and other relevant factors and programs should be added or modified as appropriate to promote inclusive and equitable communities.

Local Data and Knowledge and Other Relevant Factors: As noted in the prior findings, the element must supplement the analysis and complement state and federal data with local data and knowledge to capture emerging trends and issues, including utilizing knowledge from local and regional advocates, public comments, and service providers.

Contributing Factors: The element identifies many contributing factors to fair housing issues but must prioritize these factors to better formulate policies and programs and carry out meaningful actions to AFFH.

2. Include an analysis and documentation of household characteristics, including level of payment compared to ability to pay, housing characteristics, including overcrowding, and housing stock condition. (Gov. Code, § 65583, subd. (a)(2).)

Analyze any special housing needs such as elderly; persons with disabilities, including a developmental disability; large families; farmworkers; families with female heads of households; and families and persons in need of emergency shelter. (Gov. Code, § 65583, subd. (a)(7).)

Housing Conditions: The element provides some information on age of the housing stock. However, it must estimate the number of units in need of rehabilitation and replacement. For example, the analysis could include estimates from a recent windshield survey or sampling, estimates from the code enforcement agency, or information from knowledgeable organizations.

Special-Needs Populations: While the element identifies the number of persons experiencing homelessness using a past point in time count (PIP) survey, (pp. 2-72) of the element mentions a more recent PIP conducted on January 24, 2023. The elements analysis and corresponding figures should be updated to reflect the most recent PIP.

3. An inventory of land suitable and available for residential development, including vacant sites and sites having realistic and demonstrated potential for redevelopment during the planning period to meet the locality’s housing need for a designated income level, and an analysis of the relationship of zoning and public facilities and services to these sites. (Gov. Code, § 65583, subd. (a)(3).)

Progress toward the RHNA: As you know, the City’s RHNA may be reduced by the number of new units built since June 30, 2022; however, the element must demonstrate the affordability of units in the planning period based on actual sales price, rent level, or other mechanisms ensuring affordability (e.g., deed restrictions). While the element Item 7
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includes some information related units in the pipeline listed on Table 3-2 (pp. 3-6, 3-7), it divides the units between below market rate and market rate rather than indicating the actual affordability category (very-low-, low-, moderate-, above moderate- income). In addition, several projects which have units assigned in the below market rate category indicate that there is no restriction. For these projects, the element must indicate how affordability was determined. The element must also discuss availability or likelihood the units will be built in the planning period and should account for any barriers to development, phasing, anticipated build out horizons, market conditions and other relevant factors to demonstrate their availability in the planning period.

Realistic Capacity: While realistic capacity assumptions are generally conservative and based on existing or approved residential developments and development trends in the surrounding region, the elements realistic capacity assumptions must still account for all land use controls and site improvements. In addition, residential capacity calculations should account for the likelihood of residential development in zones where 100 percent nonresidential uses are allowed. These assumptions should also go beyond recent approved development and consider additional factors such as, nonresidential performance standards that require residential use, incentives for residential use, market demand, efforts to attract and assist developers, the allowance of 100 percent residential development in nonresidential zones, and local or regional residential development trends in the same nonresidential zoning districts. The element should enhance existing policies and programs based on a complete analysis.

Nonvacant Sites: The element provides several factors that demonstrate the redevelopment potential of nonvacant sites, including factors such as, current, and past development trends, improvement to land value ratios, existing use vs zone use, age of structure, floor area ratio (FAR), proximity to transit, TCAC/HCD designations, and community interest. However, the element must provide additional information on nonvacant sites related to existing uses that may constitute an impediment to additional residential development, past experiences converting existing uses to higher density residential development, current market demand for the existing use, existing leases or contracts that would perpetuate the existing use or prevent additional residential development or other relevant information to demonstrate the potential for redevelopment such as expressed owner and developer interest. Based on a complete analysis the element may need to add or revise programs to facilitate redevelopment. In addition, HCD received several public comment letters regarding the possible existence of additional units on several sites included in the City’s site inventory. The City must review and consider the possibility that existing units on nonvacant sites were undercounted. Once complete, existing capacity totals must be adjusted to accurately reflect existing units on identified nonvacant sites.

Finally, if the housing element relies upon nonvacant sites to accommodate more than 50 percent of the RHNA for lower income households, the housing element must demonstrate that the existing use is not an impediment to additional residential development in the planning period (Gov. Code, § 65583.2, subd. (g)(2).). This can be demonstrated by providing substantial evidence that the existing use is likely to be discontinued during the planning period (Gov. Code, § 65583.2, subd. (g)(2).

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Environmental Constraints: While the element generally describes environmental conditions within the City (pp. 4-77), it must describe any other known environmental constraints or conditions within the City that could preclude development on identified sites in the planning period (e.g., airport compatibility and related land use controls, shape, contamination, easements, overlays).

AB 725: For jurisdictions that are considered Metropolitan, the element must identify at least 25 percent of the remaining moderate and above moderate RHNA on sites that allow at least four units of housing (e.g., four plex or greater) (Gov. Code, § 65583.2, subd. (c)(4)).

City-Owned sites: While a brief analysis on city-owned parking lots (pp. 3-43) is included in the element, the analysis should discuss the status, anticipated steps for development including disposition, any known barriers to development and other relevant factors to development in the planning period. Based on a complete analysis, the element should add or modify programs to comply with the Surplus Land Act, commit to numerical objectives, including affordability, aligned with assumptions in the inventory and a schedule of actions to facilitate development. A schedule of actions may include coordination with appropriate entities, including potential developers, disposition of the land, zoning, funding, facilitating other entitlements and issuing permits. Lastly, the program should identify and make alternative sites with zoning of equivalent capacity and density by a specified date if sites are not made available by a date early in the planning period.

Availability of Infrastructure: While the element describes minor upgrades to water and sewer hookups may be required to support development of select sites, it should clarify sufficient existing or planned water and sewer capacity to accommodate the City’s regional housing need. Currently, the analysis on (pp. 3-57) is unclear.

For your information, water and sewer service providers must establish specific procedures to grant priority water and sewer service to developments with units affordable to lower-income households. (Gov. Code, § 65589.7.) Local governments are required to immediately deliver the housing element to water and sewer service providers. HCD recommends including a cover memo describing the City’s housing element, including the City’s housing needs and regional housing need. For additional information and sample cover memo, see the Building Blocks at https://www.hcd.ca.gov/planning-and-community-development/housing- elements/building-blocks/priority-water-and-sewer.

Electronic Sites Inventory: For your information, pursuant to Government Code section 65583.3, the City must submit an electronic sites inventory with its adopted housing element. The City must utilize standards, forms, and definitions adopted by HCD.

Please see HCD’s housing element webpage at https://www.hcd.ca.gov/community- development/housing-element/index.shtml#element f or a copy of the form and instructions. The City can reach out to HCD at [email protected] for technical assistance.

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Zoning for a Variety of Housing Types:

• Emergency Shelters: The element currently identifies the Research, Office, and Limited Manufacturing-Embarcadero (ROLM(E)) district as suitable to accommodate emergency shelters. However, the element should clarify if emergency shelters are allowed in this zone by-right and without discretionary action. In addition, the element should list development standards and identify reuse, and redevelopment opportunity. Lastly, the element should provide an analysis of proximity to transportation and services for these sites, hazardous conditions, and any conditions appropriate for human habitability.

For your information, Chapter 654, Statutes of 2022 (AB 2339), adds additional specificity on how cities and counties plan for emergency shelters and ensure sufficient and suitable capacity. Future submittals of the housing element may need to address these statutory requirements. For additional information and timing requirements, please see HCD’s memo at
https://www.hcd.ca.gov/sites/default/files/docs/planning-and-community/ab2339- notice.pdf.

• Accessory Dwelling Units (ADU): Please refer to HCD’s letter related to ADU requirements sent on December 21, 2022.

• Transitional and Supportive Housing: Transitional housing and supportive housing must be permitted as a residential use in all zones allowing residential uses and only subject to those restrictions that apply to other residential dwellings of the same type in the same zone. Currently, the element mentions that supportive and transitional housing will be allowed in additional zones (pp. 4- 36, 4-37); however referencing (Table 4-3A) on (pp. 4-22) the City has several additional zones (i.e., AMF, MUO) that would also have to allow transitional and supportive housing as a residential use and subject only to those restrictions that apply to residential dwelling of the same type in the same zone.

• By-Right Permanent Supportive Housing (AB 2162): Supportive housing shall be a use by-right in zones where multifamily and mixed uses are permitted, including nonresidential zones permitting multifamily uses pursuant to Government Code section 65651. The element must demonstrate compliance with these requirements and include programs as appropriate.

• Manufactured Housing: Manufactured homes that are built on a permanent foundation must be allowed in the same manner and in the same zones as conventional or stick- built structures. Specifically, manufactured homes on a permanent structure should only be subject to the same development standards as a conventional single-family residential dwelling. The element must demonstrate consistency with this requirement or add or modify programs as appropriate.

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• Farmworker Housing: Section 17021.6 requires employee housing consisting of no more than 12 units or 36 beds to be permitted in the same manner as other agricultural uses in the same zone. Currently, the element is unclear on whether the City complies with state law in accordance to Health and Safety Code 17021.6. In addition while the element mentions amending the City’s code to comply with 17021.6, Program 6.5 fails to mention commitments to do so during the planning period .For additional information and sample analysis, see the Building Blocks at https://www.hcd.ca.gov/planning-a nd-
community-development/housing-elements/building-blocks/farmworkers.

4. An analysis of potential and actual governmental constraints upon the maintenance, improvement, or development of housing for all income levels, including the types of housing identified in paragraph (1) of subdivision (c), and for persons with disabilities as identified in the analysis pursuant to paragraph (7), including land use controls, building codes and their enforcement, site improvements, fees and other exactions required of developers, and local processing and permit procedures... (Gov. Code, § 65583, subd. (a)(5).)

Land Use Controls: The element must identify and analyze the impact of all relevant land use controls as potential constraints on a variety of housing types in all zones that allow residential uses. The analysis should analyze land use controls independently and cumulatively with other land use controls. The analysis should address any impacts on cost, supply, housing choice, feasibility, timing, approval certainty and ability to achieve maximum densities and include programs to address identified constraints. The analysis must specifically describe and analyze, minimum lot area coverage, height limits, setbacks, and floor area ratios (FAR). Lastly, the element must describe and analyze parking requirements in all zones that allow residential uses.

Fees and Exaction: While the element describes required fees for single family and multifamily housing developments, including impact fees, on (pp. 4-66) the element states that impact fees/capacity fees are considered the highest in the County. In addition, on (pp. 4-67) the City recognizes that current planning/permitting and development fees add substantial cost to residential development. The element should provide a comprehensive analysis assessing all required fees and their proportion to the development costs for both single family and multifamily housing. In addition, the element could also provide information on how the city provides financial assistance to affordable housing developments. Based on a complete analysis, the City should provide additional policy and programs to mitigate the cost and impact of required fees on residential development.

Density Bonus Law: The element must clarify compliance with current State Density Bonus Law (SDBL) including amendments enacted January 1, 2023. In addition, the element must list and analyze fees associated to SDBL as a potential constraint on housing.

Zoning and Fee Transparency: The element must clarify its compliance with new transparency requirements for posting all zoning and development standards for each parcel on the jurisdiction’s website pursuant to Government Code section 65940.1(a)(1).

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Local Processing and Permit Procedures: HCD has received several public comments related to the local permit process that have indicated a complex, untimely, and cumbersome process with little certainty to applicants. While the element includes information on permit process and processing time frames that range from 90 to 365 days, a complete analysis must evaluate the processing and entitlement procedures for potential constraints on housing supply, cost, timing, financial feasibility, approval certainty and ability to achieve maximum densities. Specifically, the element must describe the procedures for a typical single-family and multifamily development. As most projects require discretionary approvals, the analysis must describe the decision- making framework for discretionary approvals related to all permits and entitlements, including but not limited to building permits, major architectural review board, conditional use permits (CUPs), context-based design criteria, rezone procedures, planned home zoning, site plans, environmental review, etc. The analysis must include the approval bodies, the number of public hearings, the actual approval findings, and all relevant information. Based on the outcomes of a complete analysis, the element must add or modify programs as appropriate.

Finally, the element should discuss compliance with the Permit Streamlining Act and intersections with CEQA and timing requirements, including streamlining determinations and add or modify programs as appropriate.

On/Off-Site Improvements: The element must identify subdivision level improvement requirements, such as minimum street widths (e.g., 40 foot minimum street width), and analyze their impact as potential constraints on housing supply and affordability.

Codes and their Enforcement: While the element describes the City’s current building code, it must describe the City’s building and zoning code enforcement processes and procedures, including whether code enforcement is targeted or complaint based, and analyze their impact as potential constraints on housing supply and affordability.

Local Ordinances: The element must specifically analyze locally adopted ordinances such as inclusionary ordinances or short-term rental ordinances that directly impact the cost and supply of residential development. In addition, the element should further analyze the Retail Preservation Ordinance and clarify whether any sites in the element are currently with the boundaries of the ordinance. Lastly, HCD received public comment on the City’s Tree Protection Ordinance, the element must provide analysis on this recently adopted ordinance (July 21, 2022) and should evaluate any impacts on the development of housing and the City’s ability to meet the RHNA.

5. An analysis of potential and actual nongovernmental constraints upon the maintenance, improvement, or development of housing for all income levels, including… …requests to develop housing at densities below those anticipated in the analysis required by subdivision (c) of Government Code section 65583.2, and the length of time between receiving approval for a housing development and submittal of an application for building permits for that housing development that hinder the construction of a locality’s share of the regional housing need in accordance with Government Code section 65584... (Gov. Code, § 65583, subd. (a)(6).)

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Developed Densities and Permit Times: The element must be revised to include analysis of requests to develop housing at densities below those anticipated, and the length of time between receiving approval for a housing development and submittal of an application for building permits that potentially hinder the construction of a locality’s share of the regional housing need.

6. Analyze existing assisted housing developments that are eligible to change to non-low- income housing uses during the next 10 years due to termination of subsidy contracts, mortgage prepayment, or expiration of use restrictions. (Gov. Code, § 65583, subd. (a)(9) through 65583(a)(9)(D).)

Table 2-39 on (pp. 2-100) of the element identifies the total number of units at-risk of conversation during the planning period. However, according to HCD records received from the California Housing Partnership (http://www.chpc.net) additional properties may be at-risk including Oak Park Manor (630 Los Robles Ave) and California Park Apartments (2301 Park Blvd). If units are identified as at-risk, the analysis must include the following:

• Listing of each development by project name and address. • Type of governmental assistance received and the earliest date of change from low-income use.
• Total number of units for senior vs. nonsenior residents. • Estimated total cost for producing, replacing, and preserving the at-risk units. • Identification of public and private nonprofit corporations known to the City to have the legal and managerial capacity to acquire and manage at-risk units. • Identification and consideration of use of federal, state, and local financing and subsidy programs.

C. Housing Programs

1. Include a program which sets forth a schedule of actions during the planning period, each with a timeline for implementation, which may recognize that certain programs are ongoing, such that there will be beneficial impacts of the programs within the planning period, that the local government is undertaking or intends to undertake to implement the policies and achieve the goals and objectives of the Housing Element... (Gov. Code, § 65583, subd. (c).)

To have a beneficial impact in the planning period and achieve the goals and objectives of the housing element, programs must have discrete timing (e.g., at least annually or by 2025) and specific commitment to housing outcomes and refrain from language such as “consider” while also having discrete timing (e.g., at least annually or by January 2024).

Examples of programs to be revised with discrete timing include Program 1.5 (Stanford University Lands), Program 3.1 (Monitor constraints on housing), 2.1 (Affordable Housing developments), Program 3.5 (Pedestrian and Transit Oriented Development), Item 7
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Program 3.8 (Objective Design Standards for SOFA), Program 6.1 (Housing for Special Needs) Program 6.2 (Multi-Family Housing & Large Units).

Examples of programs to revised with specific commitments Program 1.4 (City Owned Land Lots), Program 1.6 (Lot Consolidation), Program 3.1 (Fee Waivers and Adjustments), Program 3.3 (Affordable housing development incentives), Program 3.4 (Housing Incentives Program (HIP)), Program 3.6 (Accessory Dwelling Unit Facilitation), Program 3.7 (Expedited Project Review), 4.2 (Housing and Neighborhood Preservation), Program 4.3 (Home Rehabilitation), Program 5.1 (At Risk Preservation, Program 5.2 (Funding Partnerships), Program 6.3 (Mixed use Development) Program

6.5 (Alternative Housing) Program 6.6 (Affirmatively Furthering Fair Housing).

2. Identify actions that will be taken to make sites available during the planning period with appropriate zoning and development standards and with services and facilities to accommodate that portion of the city’s or county’s share of the regional housing need for each income level that could not be accommodated on sites identified in the inventory completed pursuant to paragraph (3) of subdivision (a) without rezoning, and to comply with the requirements of Government Code section 65584.09. Sites shall be identified as needed to facilitate and encourage the development of a variety of types of housing for all income levels, including multifamily rental housing, factory-built housing, mobilehomes, housing for agricultural employees, supportive housing, single-room occupancy units, emergency shelters, and transitional housing. (Gov. Code, § 65583, subd. (c)(1).)

As noted in Finding B3, the element does not include a complete site analysis, therefore, the adequacy of sites and zoning were not established. Based on the results of a complete sites inventory and analysis, the City may need to add or revise programs to address a shortfall of sites or zoning available to encourage a variety of housing types.

In addition, Program 6.5 (Alternative Housing) should specifically commit to allowing emergency shelters without discretionary action, with appropriate development standards in compliance with statutory requirements.

3. The Housing Element shall contain programs which assist in the development of adequate housing to meet the needs of extremely low-, very low-, low- and moderate- income households. (Gov. Code, § 65583, subd. (c)(2).)

Several actions commit to “partner”, “explore”, “encourage” housing. While these efforts are important and meaningful, these efforts should be complimented by additional steps that lead to housing outcomes. For example, Program 6.2 (Multi-Family Housing and Large Units) should set forth clear commitments in implementing incentives for larger units. This is only one example of several programs that will need to include clear and specific commitment to identify affordable development opportunities, grant incentives, assist with funding, and process entitlements on an annual basis. Programs should also commit to a numerical target and evaluate and adjust efforts as necessary every other year.

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4. Address and, where appropriate and legally possible, remove governmental and nongovernmental constraints to the maintenance, improvement, and development of housing, including housing for all income levels and housing for persons with disabilities. The program shall remove constraints to, and provide reasonable accommodations for housing designed for, intended for occupancy by, or with supportive services for, persons with disabilities. (Gov. Code, § 65583, subd. (c)(3).)

As noted in Finding B4 and B5, the element requires a complete analysis of potential governmental and nongovernmental constraints. Depending upon the results of that analysis, the City may need to revise or add programs and address and remove or mitigate any identified constraints. In addition, the element should be revised as follows:

• P rogram 3.4 (Housing Incentives Program): The Program should specifically commit to reduce parking requirements and establish creative alternatives (beyond aligning parking requirements with required State Density Bonus Law requirements). • P rogram 6.5 (Alternative Housing): The Program should clearly commit to allow group homes for seven or more persons in all residential zones. For your information, zoning should simply implement a barrier-free definition of family instead of subjecting, potentially persons with disabilities, to special regulations such as the number of persons, population types and licenses. Please refer to HCD’s Group Home Technical Advisory
https://www.hcd.ca.gov/sites/default/files/docs/planning-and-community/group- home-technical-advisory-2022.pdf.

5. P romote and affirmatively further fair housing opportunities and promote housing throughout the community or communities for all persons regardless of race, religion, sex, marital status, ancestry, national origin, color, familial status, or disability, and other characteristics... (Gov. Code, § 65583, subd. (c)(5).)

As noted in Finding B1, the element must include a complete analysis of AFFH. The element must be revised to add goals and actions based on the outcomes of a complete analysis. The element must add, and revise programs based on a complete analysis and listing and prioritization of contributing factors to fair housing issues.

Goals, Priorities, Metrics, and Milestones: Goals and actions must significantly seek to overcome contributing factors to fair housing issues and must include quantifiable metrics and milestones for evaluating progress on programs, actions, and fair housing results. Goals and actions must specifically respond to the analysis and to the identified and prioritized contributing factors to fair housing issues and must be significant and meaningful enough to overcome identified patterns and trends. Actions must have specific commitment, milestones, geographic targeting and metrics or numeric objectives and, as appropriate, must address housing mobility enhancement, new housing choices and affordability in high opportunity areas, place-based strategies for community preservation and revitalization and displacement protection.

D. Quantified Objectives
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1. Establish the number of housing units, by income level, that can be constructed, rehabilitated, and conserved over a five-year time frame. (Gov. Code, § 65583, subd. (b)(1 & 2).)

The element must include quantified objectives for new construction, rehabilitation, and conservation by income group. In addition, conservation objectives should not be limited to at- risk preservation and can include broader efforts to conserve the existing housing stock such as code enforcement programs, rental assistance or housing choice vouchers, weatherization, tenant protections, and mobile home park preservation ordinances.

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Draft Housing Element – December 2022
Summary of Public Comments and City Responses Submitted to HCD Comment Theme Responses

1. Concerns relating to
the Site Inventory and the
future availability of
identified properties.

RHNA is a State mandate and the City must comply with State law by planning for future residential development through the identification of sites that can accommodate the assigned RHNA.

Development of the City’s Site Inventory is detailed more in Chapter 4, and occurred through the identification of site selection strategies, which were developed through input provided by the Housing Element Working Group. Housing
Element Working Group members completed group
walking/drive by tours of the sites. Once complete, the Site Inventory was fully vetted by the Housing Element Working Group, the Planning and Transportation Commission and the City Council. The City undertook a number of additional engagement efforts related to the Site Inventory. A map of all identified sites has been available on the City’s Housing Element website since April 2022. The City also reached out to all property owners via a direct mail (USPS) marketing campaign. The City honored all requests from property owners who asked that their property(s) be removed from the Site Inventory. Moreover, the City
communicated with various land owners whose sites were
contemplated for inclusion or placed in the site inventory, including one prominent land owner where the City is proposing changes to the GM/ROLM zoning district.

2. Concerns relating to
environmental and
infrastructure constraints
such as traffic,
intersection safety, and
bicycle and pedestrian
safety.

Development of the sites inventory for RHNA took into
consideration potential environmental constraints. Future development projects may be required to assess environmental impacts in CEQA documentation prepared for the specific project.

3. Programs should be
objective and
quantifiable.

Changes have been made to a number of programs to address this comment. Most notably, Program 6.6 (Fair Housing) has been significantly expanded to include more action items related to fair housing constraints, quantified objectives, and implementation timeframes for each.

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Comment Theme Responses

4. City’s existing zoning
and development
standards create
constraints to housing
and do not allow for
financially feasible
projects.

Changes to the City’s Zoning Ordinance are planned to support development of housing and to comply with recently approved State legislation. The following are a selection of programs that aim to reduce constraints and improve project feasibility:
•Program 1.5: Initiate discussions with Stanford University regarding zoning modifications to support future
residential development within the Stanford Research
Park.
•Program 1.6: Develop lot consolidation provisions for
affordable housing projects.
•Program 3.3: Amend the residential floor area ratios and height requirements for projects taking advantage of the affordable housing overlay regulations.
•Program 3.6: Amend Zoning Ordinance to maintain
compliance with State legislation pertaining to ADUs.
•Program 3.7: Limit multi-family housing projects to two hearings before the City’s ARB.
•Program 3.8: Create objective design standards for the SOFA area to streamline future development.
•Program 3.9: Compliance with State legislation.
•Program 6.2: Explore zoning changes to support larger
units.
•Program 6.5: Encourage innovative housing structures
through zoning regulations and address State legislation pertaining to low barrier navigation centers, emergency shelters, supportive and transitional housing, and
employee housing.

5. Application processing
timeframes can create a
constraint to residential
development if they are
lengthy, as is the case in
Palo Alto. The City should
work to reduce
application processing
timeframes.

With the implementation of Program 3.7 the City will explore opportunities to improve the efficiency of the development review process, including expedited project review. This program will also limit multi-family projects to two hearings before the City’s ARB. Furthermore, with the recently adopted objective design standards in 2022, the City created a streamlined review process for compliant projects that only requires one study session with the City’s ARB.

6. Public participation
should be fair and
equitable to all.

The City has provided a detailed summary of the public
engagement program implemented for this project in Chapter 1.

This program included a number of study sessions with PTC Item 7
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Comment Theme Responses
and/or City Council, a dedicated website, and online survey, and multiple community workshops that were advertised in multiple languages. In addition, the City formed a Housing Element Working Group, comprised of 15 members and 2 alternates.

Group members included homeowners and renters, Stanford employees, members of Palo Alto’s young adult and minority communities, an affordable housing developer (staff), and a member of the unhoused community. All meetings were open to the public (virtually) and the group took and responded to public comments at all meetings.

7. Strengthen the efforts
to enhance affordability
by providing fee waivers,
securing new funding
sources, expediting
project review, and
developing standards
supportive of higher
densities.

All these efforts are included in the Draft Housing Element.

Specific programs include: Program 2.2: Continuation and expansion of the program to promote affordability. Program 3.1:

The City will waive staff costs associated with affordable housing planning applications. Program 3.7: The City will explore opportunities to improve the efficiency of the development review process, including expedited project review. Program 3.8; The City will create objective design standards for the SOFA area.

Program 5.1: Preservation of at-risk housing.

8. Expand support for
programs that combat
homelessness
Program 6.4 addresses the City’s efforts to combat homelessness.

Expansion of the City’s Safe Parking Program is included.

9. Accessory Dwelling
Units assumptions are too
aggressive and do not
appropriately address
affordability of these
types of units in the City.

ADU assumptions are detailed in Chapter 3 of the Housing Element and are based on actual ADU permitting trends for the 2019-2021 time period. That said, current trends from 2022 demonstrate an increase in ADU permitting in the City. Through these natural increases, and the implementation of Program 3.6, the City is confident that the ADU production numbers presented for the next 8 years can be realized. Affordability assumptions were based on the HCD approved technical guidance prepared by ABAG, as discussed in Chapter 3. The City does not have control over the rental market and the affordability of non-deed restricted units although the action items outlined in Program 3.6 support the program as a whole.

10. Tenant protection
policies should be
strengthened. The City
Tenant protection strategies have been further expanded across Program 6.6. Specifically: Program 6.6.I: Includes implementation for additional anti-displacement measures including relocation Item 7
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amended the Tenant
Relocation Assistance
requirements in January
2022.
assistance, eviction reduction, security deposit limits and right to counsel. Program 6.6.J: Includes consideration of a Fair Chance Ordinance.

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1 4
4 8
Attachment F
Meeting Date: May 8, 2023

City Response Matrix to HCD Comment Letter
This attachment reflects the City responses to the HCD comments with reference to the respective pages in the Strikeout/Underlined Draft 2023-31 Housing Element version.

This attachment is being finalized and will be provided on May 4 with next week’s Council report packet.

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Attachment F - City
Response Matrix to HCD
Comment Letter (to be
provided separately)

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City Council
Staff Report
From: City Manager
Report Type: INFORMATION REPORTS
Lead Department: City Manager
Meeting Date: May 8, 2023
Report #:2304-1306
TITLE
Independent Police Auditor Special Report on Police Recruitment and Retention

RECOMMENDATION
Receive this Informational Report on Police Recruitment and Retention prepared by the Independent Police Auditor team at OIR Group.

BACKGROUND AND ANALYSIS
The City’s contract with OIR Group provides for OIR reports to be published as Council Information Reports two times each year (February and August), and for OIR to meet with Council two times per year to discuss trends in criminal justice and policing, policy and training matters, OIR recommendations, and other Council concerns. The contract also provides that Council may ask OIR to conduct additional performance reviews on specific topics.

In March 2022, Council asked OIR to review and prepare a report on Police Department recruiting and hiring. That report is attached here. The next IPA report is in draft and nearing completion. As provided in the contract, the report will be released as Informational Item on an upcoming Council agenda, and a session with Council will be agendized before the summer break.

RECRUITMENT AND HIRING REPORT
On March 14, 2022, the Council unanimously approved 1) ask OIR Group to perform a one-time performance review on Police Department recruitment and hiring and 2) require the Police Department to provide a written response to future IPA recommendations. As a result of this action, the IPA prepared the report included as Attachment A and the Police Department provided written responses to the report (Attachment B).

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FISCAL/RESOURCE IMPACT
This performance review on recruitment and hiring is included in the additional services part of the existing OIR Group contract for $10,000.

ATTACHMENTS
Attachment A: IPA Report on Recruitment and Hiring
Attachment B: Police Department Responses to IPA Report on Recruitment and Hiring APPROVED BY:

Ed Shikada, City Manager
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INDEPENDENT POLICE AUDITORS’ REPORT: Review of PAPD Recruitment and Hiring February 2023 Presented to the Honorable City Council City of Palo Alto Prepared by: Michael Gennaco and Stephen Connolly Independent Police Auditors for the City of Palo Alto

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2 Introduction In establishing new contract terms for the Independent Police Auditor (“IPA”) in 2021, the Palo Alto City Council expanded the IPA scope of work in different ways. One significant change, for example, related to uses of force by Police Department personnel: under the new agreement, a greater range of force deployments (as reviewed by PAPD supervision) are now part of the core content that the IPA reviews for its semi-annual public reports about PAPD internal accountability measures. A second expansion gave the Council the opportunity to authorize stand-alone systemic audits of distinctive aspects of PAPD operations that were not otherwise covered during the regular review process. “Use of Force” is now an established category within the IPA monitoring and reporting functions. And at a meeting in 2022, the City Council accepted a proposal for OIR Group to assess “PAPD Recruiting and Hiring” as its first special topic. This Report is the product of that review. At a time of significant transition for law enforcement in the United States, the effective recruiting and hiring of new officers is as critical an issue as it has ever been. There are several reasons for this, but two are especially salient to the current discussion. The first is that a heightened focus on procedural justice and the lingering impacts of systemic racism have brought renewed attention on the importance of officers who reflect and embrace a diverse, equitable culture. And the second is that controversial incidents, negative public perceptions, and increased accountability measures have influenced both ends of the employee “pipeline”: officers eligible to retire have perhaps been more inclined to do so, and the pool of new applicants to the profession is considerably smaller than in the past. There are additional implications arising from the national narrative emanating from the George Floyd murder. Many jurisdictions have discussed and debated whether functions traditionally reserved for police might best be handled by non-police officers. This has caused many current officers and potential applicants to reassess the contours and future of the law enforcement profession. In many cities – including Palo Alto – a fourth reality has further underscored the importance of effective recruiting and hiring: COVID-related budget impacts that Item 8
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3 temporarily constrained the ability of cities to provide the resources to fully staff and competitively compensate their police forces. These circumstances have created a nation-wide challenge in law enforcement. In our experience with agencies throughout California and in other states, “hiring and retention” are routinely cited as among the most significant challenges that local agencies are confronting. To some extent, this is true in Palo Alto as well. And it was against this backdrop that we evaluated PAPD’s process of recruiting and hiring, and its current circumstances and outlook for the immediate future. In developing this Report, we drew upon our own direct familiarity with the experiences of agencies throughout California and in other states. We also researched the relevant guidelines required by “POST” (“The Commission on Peace Officer Standards and Training”), which provides state-wide certification and training requirements for California police agencies. And we engaged in a number of discussions with PAPD members who have direct responsibility for the recruiting and hiring functions. Lastly, we had the opportunity to perform an in-person review of several recent “background investigation” packages to learn about the comprehensive nature of the information-gathering that occurs and its influence on Department decision-making about candidate suitability. Our takeaways were relatively straightforward. We were interested to learn about the mechanics of the process, impressed by the dedication and resourcefulness of the PAPD personnel who lead the agency’s efforts, and reinforced in our belief that this arena is especially deserving of the City’s attention and support. We discuss each of these impressions below. That new officers be sufficient in number and excellent in quality is essential to the well-being of any law enforcement organization, and PAPD is no exception. The Department’s actions in the arena of recruiting and hiring are reflective of the agency’s own recognition of this dynamic, and they are yielding effective results. We have provided additional suggestions for both the Department and City’s consideration to increase those results, increase community involvement in the process, and engage future officers with the City in unique and educational ways. Process Overview The Department’s three-person core team operates out of the Personnel and Training Unit. It is led by a lieutenant and has one experienced civilian administrator (who has been in the role for several years) and a sworn officer of the “Agent” rank. For the agent Item 8
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4 and the civilian, the recruiting and hiring role is their core responsibility – a reflection of both the demands of the assignment and the emphasis that it holds within the organization. As stated above, that emphasis has certainly increased in the last year. The larger dynamics discussed above were compounded in Palo Alto by a budget-driving hiring freeze and reduction of authorized staff positions. Hiring resumed in the fall of 2021, and the most recent City budget cycle saw the restoration of five of the 13 slots that had been lost during the period of COVID-driven revenue shortfalls.1 The challenge, then, is to fill newly available positions with capable individuals – and to do so as efficiently and effectively as possible in an environment where numerous local agencies are similarly situated. With that in mind, the Department recruits on a “rolling” basis, which is to say that it is consistently seeking new applicants to begin the process. The Department’s website prominently features information for people interested in learning more about the agency and employment opportunities. It also recently produced new recruitment videos (for the first time in several years) that showcase the range of backgrounds possessed by current PAPD personnel, the different enforcement roles that agency members can pursue, and the qualities of character that the Department is hoping to attract. Along with being receptive and responsive to individuals who initiate contact with the agency, the recruitment team is also pro-active. Representatives regularly attend the periodic regional testing sessions that are offered for individuals interested in a law enforcement career. (The testing days give potential applicants the opportunity to pass the standardized prerequisites2 that help dictate hiring eligibility.) The hope is obviously to express interest and to “advertise” the PAPD as a desirable agency for applicants to consider. Recruiting team members also regularly visit military bases and college campuses, focusing on criminal justice programs in the search for likely candidates. If an individual does express interest and wishes to apply to PAPD, several phases ensue. Assuming that the tests for academic proficiency and physical fitness have been passed, an applicant must also submit a completed “Personal History Statement” to 1 This brought the total number of authorized positions for sworn officers to 84. 2 These are derived from POST guidelines and are applicable to the requirements of most agencies.

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5 ensure that there are no disqualifying events in their individual backgrounds.3 These disqualifiers (such as applicable criminal history, drug use, and integrity-related past employment issues) are also based on POST standards. Per the PAPD staff, a majority of potentially interested applicants are eliminated from contention by this initial screening process. Those who advance then participate in an “oral board” panel interview comprised of the two main recruitment team members and, generally, another PAPD employee. The questions are standardized, a combination of general inquiries and hypothetical situations that are meant to explore the applicant’s motivation, integrity, communication skills, and problem-solving potential. We asked about the potential for incorporating community representatives into this phase of the process, which we have occasionally seen as a practice in other jurisdictions. The recruitment team representatives appreciated the concept but raised concerns about their need to be efficient in conducting the panels regularly and on short notice. That being said, these hurdles do not seem insurmountable if the community representative(s) have the flexibility to be available on short notice. And their involvement could provide useful insights and a strong message about the Department’s commitment to more integration with the public it serves. RECOMMENDATION 1 PAPD should consider revising its interviewing process – without sacrificing its need to remain nimble – to obtain community input on potential candidates. A percentage of these candidates then meet with the recruitment lieutenant, who has a more open-ended discussion with the applicant. If she is sufficiently satisfied with the individual’s potential, the next phase of the process begins. This is a background investigation conducted by a third-party contractor. The background investigator works off the applicant’s Personal History Statement, which is 25 pages in length and requires an extensive amount of detailed personal information. Utilizing this information as a starting point, the investigator contacts family members, friends, employers, and other references to question them about the 3 The framework for this document is also established by POST, which requires it for officer eligibility.

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6 applicant. The investigator also does research through publicly available records and social media accounts.4 We reviewed four recently completed packages to get a more detailed sense of the process. We found it to be both thorough and rigorous. In three of the examples that we looked at, issues from the candidate’s past history emerged from the investigation and ultimately caused PAPD to withdraw its interest – either because of the significance of the problem itself, or because of a credibility concern relating to the applicant’s failure to volunteer the information during earlier submissions. As another part of the background screening phase, a PAPD applicant also submits to a polygraph examination that is conducted by a separate contractor. These exams cover a wide range of topics, many of which are duplicative of other investigatory categories but that provide some added assurances about the quality and completeness of information otherwise shared by the applicant. Recently, one prospective employee was close to receiving an offer when potential issues as to credibility emerged in his polygraph exam. Because the results were ambiguous, the Department sent him to a different provider to be re-tested; this too led to “inconclusive” outcomes as to credibility, and PAPD decided not to move forward with the candidate. Assuming that the applicant’s background is suitable, the candidate meets with the Chief of Police as a final precursor to receiving a provisional offer for employment. At that point, the applicant receives physical and psychological examinations that are conducted by certified outside contractors.5 And if those are passed, then the candidate is officially eligible to attend the six-month-long police training academy – which of 4 Importantly, this includes a focus on potentially problematic group affiliations. Recent national attention on the nexus between some peace officers and extremist groups (such as the Proud Boys) was both discouraging and reinforcing of the need to identify any such allegiances and the ideology that animates them. 5 The psychological test is obviously a key measure of suitability for handling the challenges of law enforcement as a profession. Again, this practice is standardized and driven by POST requirements. The evaluator summarizes the applicant’s profile into one of five categories, ranging from “Well-Suited” to “Not Psychologically Suited.” A large Bay Area agency recently generated media attention when it was learned that nearly fifty of its hires from recent years were accepted in spite of being categorized in the second lowest range – which is generally considered to be a failing outcome. PAPD provided assurances that it requires a definitive “passing” evaluation.

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7 course imposes its own demands and may also be a place where applicants fall out of the hiring process.6 In short, the candidates who succeed have passed through a rigorous and multi-faceted screening.7 This is necessary and important. But it is also occurring in a unique environment, in which the number of interested applicants has dropped considerably relative to traditional metrics. Again, this phenomenon is not at all unique to Palo Alto – which is another part of the problem. Intense competition among agencies for the limited pool of qualified applicants adds to the challenges that the Department’s recruitment team faces.8 They are challenged by a hiring context in which they are, effectively, not only “sellers” in a job market heavily tipped toward “buyers,” but operating in service of a profession that holds any potential new member to exacting, restrictive standards. Issues and Analysis We had repeated discussions with personnel and executives involved with PAPD’s recruiting and hiring efforts. We wanted to learn about how the agency is navigating the challenges of law enforcement’s contemporary hiring landscape, and we gained confidence that PAPD is maintaining appropriately high standards even as it works to accommodate significant competition and a smaller pool of interested candidates. We also focused on topics that have particular resonance as expectations for policing continue to evolve. Prominent among these is diversity. The ongoing reality is that people of color are underrepresented in law enforcement – while at the same time they are statistically overrepresented in categories such as stops 6 Like all agencies of its size, PAPD sends trainee officers to a POST-approved academy that is run by another (larger) entity. The most common site is the Santa Clara County Sheriff’s Academy, but the infrequency of new classes has caused PAPD to also utilize alternative locations in recent years. 7 This is also true for what are called “lateral” hires – officers who are fully credentialed and employed by another law enforcement agency. These candidates are attractive in the sense that they are experienced and ready to begin working right away (as opposed to going through the months of academy training). But they are still considered new employees who are subjected to the same requirements and background reviews before being offered a position. 8 One relevant area over which the Department itself has limited control is of course the compensation/benefits package to which its new employees are entitled. Our understanding is that the Department falls in the “middle range” among agencies in the vicinity.

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8 and arrests.9 And a legacy of discrimination throughout the criminal justice system has strained relations between the police and minority groups in countless communities. While the roots of these dynamics are both complex and deep-seated, and the solutions are necessarily multi-faceted, the potential benefits of more diversity in policing have long been recognized as one element of necessary reform. The goal of this initiative is not only to enhance credibility and relationships with marginalized groups, but also to improve police operations themselves by introducing a greater range of perspectives, life experiences, and cultural insights. Unfortunately, in Palo Alto as in many other locations, achieving these benefits through recruiting and hiring has proven to be much more of a challenge than identifying the possible value of doing so. This is not for a lack of trying. It seemed clear to us that PAPD has prioritized appealing to officers of all races as well as to female candidates, and its staff has been persistent in the face of results that are often disappointing.10 Frustratingly, though, the very tensions that have heightened the need for diversity have been obstacles to attracting large numbers of applicants from underserved communities – thus perpetuating if not exacerbating the problem. Still, PAPD believes it has made inroads in recent months when it comes to expanding the diversity of its workforce. The City's policies on demographic information-gathering about employees place some constraints on definitive knowledge. However, a look at the photographs on social media of the Department's newly hired officers suggests that representation of different groups is increasing to an encouraging extent. Along these lines, we encourage the Department to continue considering innovative approaches to connecting with prospective candidates from different racial and ethnic backgrounds. The PAPD staff members with whom we spoke explained that many of their recent successes have arisen through personal outreach at the regular regional testing events that offer interested people the opportunity to clear the initial hurdles for 9 California’s “Racial and Identify Profiling Act” has imposed new requirements on local law enforcement with regard to data collection and reporting as to the demographic of individuals who are stopped and/or arrested. 2022 was the first year of the obligation for agencies of PAPD’s size. Ideally, the information gleaned from the annual totals will promote meaningful evaluation of enforcement practices, particularly regarding any disparities that may be reflected. 10 A PAPD supervisor described a recent initiative in which he sent out a series of emails to specific campus organizations throughout the region that focused on Black students. The hope was to solicit invitations to meet with interested members of these groups. However, the outreach was not only unsuccessful, but it also failed to produce a response of any kind.

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9 application to any agency. This makes sense: even the most appealing recruiter welcomes the additional “head start” that comes from engaging with individuals who have self-selected law enforcement as a prospective career. But proactivity in attempting to elicit interest is also a strategy that we hope PAPD will continue pursuing – especially in terms of outreach to traditionally underrepresented factions. More specifically, we urge the Department to build further relationships among church groups and a range of community-based organizations. These connections will ideally not only provide recruitment opportunities but also become a forum for targeted referrals that local leaders can help identify. RECOMMENDATION 2 PAPD should remain committed to attracting potential applicants with varied life experience and backgrounds, and it should engage in proactive outreach efforts to introduce law enforcement as a viable career option for women, people of color, and other underrepresented segments of the community. As for increasing the number of women officers in the agency, PAPD is tracking the resources and ideas being generated by the national “30 x 30” campaign, which is providing supports to help achieve the stated goal of having female candidates comprise 30% of the new recruiting classes for all local agencies by 2030. One agency with whom we have recently worked is actively engaged in addressing these issues – and has contemplated creative ways to overcome the barriers that have historically limited the participation of women in the profession. One of the concepts is a “job share” that would provide greater flexibility for officers who struggle to balance family commitments with the demands of full-time work. While there are undoubtedly practical obstacles to such arrangements, the idea that organizations would entertain new types of accommodation is, in our view, an appropriately progressive evolution – one that benefits employees but that also reckons constructively with the hiring and retention challenges that law enforcement faces.

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10 RECOMMENDATION 3 PAPD should explore new, potentially viable ways of making the profession attractive to individuals across a range of family and lifestyle contexts, particularly if they can enhance the retention of female officers. Finally, we also take note of PAPD’s resourcefulness in preserving relationships with applicants during the sometimes-frustrating wait times between hiring offers and the next available training academy class. The Department has taken to employing some interested individuals in civilian assignments on a temporary basis. This provides some financial leeway that can help promising candidates weather any delays – and obviously offers the additional benefits of relationship-building and promoting familiarity with the agency and its operations. We can appreciate the wisdom of this approach, and would encourage PAPD to look for ways to enhance it in the future. In particular, we advocate the sponsoring of community-based service opportunities for at least part of that interim period. Such a model would increase the recruits’ knowledge of the city, its neighborhoods, and the organizations that are providing needed supports to disadvantaged community members. We are aware of one agency that dedicates the first full week of “field training” for newly graduated officers to the task of providing such exposure in an organized context, and prior to their initial forays into patrol. This strikes us as an impressive investment – and one that should pay dividends in the form of the new officers’ heightened understanding of and connections to the public they are entrusted to serve. To the extent that Palo Alto’s current strategy for employing their pending candidates lends itself to modification, we hope that this additional goal will get consideration. RECOMMENDATION 4 PAPD should consider adapting its current practice of finding temporary civilian assignments for new hires by incorporating elements of community service where practicable.

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11 Conclusion The profession of law enforcement is evolving on many fronts, including shifts in public perception, greater accountability, and new thoughts about the best roles for the police in contemporary society. As we discuss above, this has posed short-run challenges for police agencies in adapting to new expectations – including if not especially in the arena of recruiting and hiring qualified personnel. A smaller pool of applicants is gravitating toward the profession than at any time in recent memory, yet the need for talented, dedicated personnel is even more acute. There are no simple solutions to this paradigm. As different jurisdictions navigate it – and do so in competition with each other – each contends with its own budgetary, cultural, and organizational constraints. Accordingly, success requires new levels of resourcefulness and flexibility. And police agencies must prioritize this aspect of their operations. The Palo Alto Police Department is approaching this reality in constructive, effective ways. It has assigned energetic individuals to the task, with positive recent results that are all the more impressive in the current climate. PAPD has made efforts to maximize its appeal and attract worthy candidates, and it has done so without lowering standards or ignoring its own well-founded requirements. We encourage the Department to continue its good work in this important aspect of its operations, and hope that the additional suggestions we offer here will enhance a praiseworthy approach.

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1 | P a g e

DATE: FEBRUARY 14, 2023
TO: HONORABLE CITY COUNCIL
FROM: POLICE CHIEF ANDREW BINDER
SUBJECT: POLICE DEPARTMENT RESPONSE TO IPA RECOMMENDATIONS

RECOMMENDATION 1: PAPD should consider revising its interviewing process – without sacrificing its need to remain nimble – to obtain community input on potential candidates.

The Department agrees with this recommendation and will consider opportunities for inclusion of community stakeholder input on potential candidates during the hiring process.

RECOMMENDATION 2: PAPD should remain committed to attracting potential applicants with varied experience and backgrounds, and it should engage in proactive outreach efforts to introduce law enforcement as a viable career option for women, people of color, and other underrepresented segments of the community.

The Department agrees with this recommendation and will continue broaden recruiting outreach efforts.

On December 5, 2022, the City of Palo Alto Council approved the police department’s request to allocate $90,000.00 Salary and Benefits and $20,000.00 Recruiting from COPS (State of California Citizen Options for Public Safety) grants funds directed towards recruiting efforts.

The following excerpt is from the staff report:

Supplemental Recruiting Activities for Front Line Officers ($90,000 Salary and Benefits and $20,000 Recruiting) – Palo Alto does not traditionally budget for recruiting activities. The activity is funded by other means such as salary savings, Budget Stabilization Reserve or, in this case, from the COPS funding.

The team responsible for recruiting front line police officers is not funded in the budget. Regular FTE staff will attend recruiting events on overtime. This will also fund the travel and lodging required to attend recruiting events to attract and hire front-line law enforcement staff.

RECOMMENDATION 3: PAPD should explore new, potentially viable ways of making the profession attractive to individuals across a range of family and lifestyle contexts, particularly if they can enhance the retention of female officers.

The Department agrees with this recommendation and will explore viable ways to make the profession more attractive.

RECOMMENATION 4: PAPD should consider adapting is current practice of finding temporary civilian assignments for new hires by incorporating elements of community service where practicable.

The Department agrees with this recommendation.

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From: Winter Dellenbach
To: Council, City
Subject: For May 8 Meeting
Date: Friday, May 5, 2023 2:45:56 PM
CAUTION: This email originated from outside of the organization. Be cautious of opening attachments and clicking on links.

Dear Council Members:

Please see Item 8. Information Reports in your May 8th Council meeting packet as a pdf. These two related reports could be easily overlooked.

INFORMATION REPORTS

8. Independent Police Auditor Special Report on Police Recruitment and Retention Attachment A: IPA Report on Recruitment and Hiring
Attachment B: Police Department Responses to IPA Report on Recruitment and Hiring Background: This “ Report on Recruitment and Hiring”, Attachment A., was requested by the Council in March 2022, of our Independent Police Auditor (IPA) who accepts special assignments such as this on occasion.

The Palo Alto Police Department Response to this IPA Report is included as Attachment B immediately following it.

Both these Information Reports are important to our effort to increase oversight, transparency and accountability by City law enforcement. Thus your careful

review is warranted. Council will then have an opportunity to discuss these Reports with the IPA and PAPD representative at an open meeting, apparently before your June break.

Also, soon the IPA’s PAPD Oversight Report, and the PAPD’s Use of Force Report, and Response to Recommendations Report [to those the IPA in his previous Oversight Report] will also be released to Council before the meeting, covering the last half of 2022.

Thank you for your attention to this matter.

Winter Dellenbach

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CITY COUNCIL

STAFF REPORT

From: City Manager
Report Type: Action
Lead Department: Administrative Services

Meeting Date: May 8, 2023
Report #: 2212-0520

TITLE
Investment Activity Report for the Third Quarter, Fiscal Year 2023

RECOMMENDATION
This is an informational report and no City Council action is required.

EXEUCTIVE SUMMARY
The City’s Investment Policy1 (Policy) requires that staff report to Council quarterly on the City’s portfolio composition and performance compared to the Council-adopted Policy; discuss overall compliance with the City’s Investment Policy; and provide recommendations, if any, for Policy changes. In addition, staff provides a detailed list of all securities and reports on the City’s ability to meet expenditure requirements over the next six months. This report is to inform Council of the City’s investment portfolio performance as of the third quarter ending March 31, 2023 and to disclose staff’s cash flow projections for the next six months. The portfolio details, activities, and performance are discussed below, and additional information is provided in the attachments.

During the third quarter staff complied with all aspects of the Investment Policy. Staff expect that the City will have sufficient funds or liquidity to meet expenditure requirements for the next six months.

Given the recent news in the banking industry , the Analysis section of this report includes information regarding the City’s banking relationships for its cash balances.

1 City of Palo Alto website, Administrative Services Department, Money Management & Treasury:
https://www.cityofpaloalto.org/files/assets/public/administrative-services/investment-policies/adopted- investment-policy-2022-23.pdf

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ANALYSIS
The City’s investment portfolio is summarized in Graph 1 and detailed in the Investments by Fund Report (Attachment B). The Investments by Fund Report groups the portfolio’s securities by investment type and includes details of the investment issuer, date of maturity, current market value, the book and face (par) value, and the weighted average maturity of each type of investment and of the entire portfolio.

Due to rounding, the above graph's percentage total is greater than 100 percent.

The par value of the City’s portfolio is $599.6 million; in comparison, last quarter it was $579.3 million. The $20.2 million portfolio growth since the last quarter results from timing of cash flows from the prepayment of the City’s Fiscal Year 2023 Unfunded Accrued Liability (UAL) pension cost for active employees to the Public Employers’ Retirement System (PERS) totaling $43.1 million and additional major revenue receipt due to seasonality timing. By prepaying PERS instead of making payments with each payroll period, the City expects savings of $1.5 million in PERS payments; however, this savings will be partially offset by the loss of approximately $333 thousand in interest income in the City’s portfolio. The net citywide savings of prepaying the UAL cost is $1.2 million. The saving is a consequence of PERS’ ability to earn interest earlier and at a higher rate than the City’s portfolio could realize. Without this prepayment, an additional $12 million in UAL payment would have been made in the second Item 9
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Item No. 9 . Page 3 of 10
quarter; this payment was made in first quarter’s prepayment. As far as additional major revenue receipt due to seasonality timing, property taxes and related receipts don’t begin until the second and third quarters and major revenues such as sales, transient occupancy and utility user’s taxes are historically higher in the third quarter. For example, second quarter property related (taxes and assessments) receipts were $19.8 million.

The portfolio consists of $34.5 million in liquid accounts and $565.1 million in various investment types as detailed in the following Table 1. The Investment Policy requires that at least $50 million be maintained in securities maturing in less than two years. The portfolio includes $96.4 million in investments maturing in less than two years, comprising 16.1% of the City’s investment portfolio. In addition, the Investment Policy allows up to 30% of the portfolio to be invested in securities with maturities beyond five years; actual at the end of the second quarter is 29.6% of the portfolio.

The current market value of the portfolio is 89. 6% of the book value. The market value of securities fluctuates, depending on how interest rates perform. When interest rates decrease, the market value of the securities in the City’s portfolio will likely increase; likewise, when interest rates increase, the market value of the securities will likely decrease. Understanding and showing market values is not only a reporting requirement, but essential to knowing the principal risks in actively buying and selling securities. It is impo rtant to note, however, that the City’s practice is to buy and hold investments until they mature so changes in market price do not affect the City’s investment principal. As a result, there is no risk of principal loss due to the declining market value. The market valuation is provided by U.S. Bank, which is the City’s safekeeping agent. The average life to maturity of the investment portfolio is 3.80 years compared to 3.87 years last quarter.

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The Investment Policy states “Should the ratio of the market value of the portfolio to the book value of the portfolio fall below 95%, the Administrative Services Department will report this fact to the City Council within a reasonable time frame and evaluate whether there is any risk of holding any of the securities to maturity.” In the prior three quarters the market value fell below 95%; it was 93.5% in the fourth quarter of fiscal year 2022 (CMR 139982), 89.7% in the first quarter of fiscal year 2023 (CMR 140013), and 90.7% in the second quarter of fiscal year 2023 (CMR 2301-08654). The market rate decreased an additional one percentage points _ this third quarter to 89.6% of book value. Though the total portfolio’s market value is below book value, $61.8 million in par value of securities are at or above market value. Interest rates on new investments have begun to decrease so the market value of the portfolio is expected to increase in the coming quarters. To minimize risk of loss for investment principal due to lower market values, the City’s investment practice is to buy and hold investments to maturity.

Investments Made During the Third Quarter
During the third quarter, $27.0 million of securities with an average yield of 2.5% matured.

During the same period, per the following Table 2, securities totaling $43.5 million with an average yield of 4.7% were purchased. As expected, as interest rates rose on new investments, the City’s portfolio’s average yield has begun to gradually rise. In the prior two fiscal years or during the height of the COVID -19 economic closures, the portfolio’s interest rate had steadily declined. The City’s short -term money market and pool account increased by $3.7 million compared to the second quarter of Fiscal Year 2022. Staff continually monitors the City’s short - term cash flow needs and adjusts liquid funds to meet them.

2 City Council, August 8, 2022 Item #9, CMR 13998: https://www.cityofpaloalto.org/files/assets/public/agendas - minutes-reports/agendas-minutes/city-council-agendas-minutes/2022/20220808/20220808pccsm-amended-rev- final1.pdf#page=134
3 City Council, November 7, 2022 Item #13, CMR 14001:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/agendas-minutes/city-council- agendas-minutes/2022/20221107/20221107pccsm-amended-linked-q.a-2.pdf#page=188 Item 9
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Availability of Funds for the Next Six Months
Normally, the flow of revenues from the City’s utility billings and General Fund sources is enough to provide funds for ongoing expenditures in those respective funds. Projections indicate that for the City’s cashflow, an overall decline in the portfolio of $32.7 million is expected over the coming six months due to routine business activities. This reflects expected receipts of $334.2 million and expenditures of $366.9 million over the next six months.

The expected decline in the portfolio is attributable to pre-paying a portion of the Fiscal Year 2024 Public Employers’ Retirement System’s (PERS) employer contribution of $41.6 million, representing the City’s unfunded accrued liability (UAL) lump-sum prepayment for FY 2024. By prepaying PERS instead of making payments with each payroll period, the City is expected to save $1.4 million in pension expense; the savings will be offset by the loss of approximately $0.8 million in interest income in the City’s investment portfolio. This results in net citywide savings of $0.6 million because PERS has the ability to earn interest earlier and at a higher rate than the City could realize.

As of March 31, 2023, the City had $34.4 million deposited in the Local Agency Investment Fund (LAIF) and a money market account that could be withdrawn on a daily basis. In addition, investments totaling $36.3 million will mature between April 1, 2023 and September 30, 2023.

Also, the City will soon receive $24 million in damages awarded through a lawsuit that established that the Bureau of Reclamation overcharged the City for hydroelectric power for 28 years. The U.S. Court of Appeals ordered the federal government to issue refunds to power purchasers to compensate for the overcharges. Based on the above, staff expect that the City will have sufficient funds or liquidity to meet expenditure requirements for the next six months.

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Compliance with City Investment Policy
During the third quarter, staff complied with all aspects of the Investment Policy. Attachment C lists the major restrictions in the City’s Investment Policy compared with the portfolio’s actual performance.

Investment Yields
Interest income on an accrual basis for the third quarter was $3.1 million; $0.5 million higher than the prior quarter due to new higher yielding investments in the portfolio. As of March 31, 2023, the yield to maturity of the City’s portfolio was 2.18%; in the prior quarter it was 1.97%. In the third quarter, LAIF’s average yield was 2.63% while the average yield on the two -year and five-year Treasury bonds was approximately 4.35% and 3.80%, respectively. In comparison, in the prior quarter LAIF had 1.98% yield and the two -year and five -year Treasury bonds yields were higher at 4.39% and 4.0%.

Historically, the City’s portfolio yield has outperformed the two-year and five-year Treasury bond rates and did so again several years ago; this is an expected occurrence during economic downturns. However, during economic recovery periods, interest rates rise, and the City’s portfolio yield is expected to be lower, which is the current financial environment. As the City’s laddered portfolio investments mature in the next year or two, funds will cont inue to be reinvested and trends will follow the economic patterns. Graph 2 shows the City’s yields and interest earnings for the past 21 years.

City’s portfolio duration is 3.80 years.

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Yield Trends
The Federal Open Market Committee (FOMC), since March 2020, has raised the federal funds rate nine times totaling 4.75% with the first occurring on March 16, 2022. Prior to this the rate was near zero. To mitigate the persistent elevated inflation rate from the peak of 9.1% in June to a low 5% in April 2023 with a 2% target. The primary cause of declining inflation rate is falling energy and transportation prices.

The expectation is FOMC will continue to do additional federal funds rate interest rate increases in 2023 but at a slower pace. This is due to the inflation rate failing to come down as quickly as the FOMC had hoped in the past few quarters. While the FOMC states “The U.S. banking system is sound and resilient,” they are mindful that rising borrowing costs will elevate stress to the banking system. Consistent with the prior four quarters, job growth remains “robust” and unemployment rate remains low, however, FOMC’s are firmly focused on bringing down inflation.

The following tables show the U.S. inflation and unemployment rates and the U.S. Gross Domestic Product (GDP) past and recent trends.

Graph 3: U.S. Inflation Rate
The annual inflation rate in the U.S. slowed for the ninth consecutive period to 5% in March 2023, the lowest since May 2021 which is below market forecasts. Food prices grew at a slower rate and energy cost fell while prices for used cars and trucks declined.

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Graph 4: U.S. Unemployment Rate
The unemployment rate in the U.S. edged down to 3.5% in March 2023 which is slightly below expectation.

Graph 5: U.S. Gross Domestic Product (GDP)
The Gross Domestic Product (GDP) in the United States expanded 0.90% in the fourth (calendar) quarter of 2022 over the same quarter of the previous year.

Attachment A is a consolidated report of all City investment funds, includi ng those not held directly in the investment portfolio. These include cash in the City’s regular bank account with US Bank and Wells Fargo. A description of the City’s banking relationships can be found in City Item 9
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Council Staff Report ID # 7858 4 and ID # 114025. The bond proceeds, reserves, and debt service payments being held by the City’s fiscal agents are subject to the requirements of the underlying debt indenture. The trustees for the bond funds are U.S. Bank and California Asset Management Program (CAMP). Bond funds with U.S. Bank are invested in federal agency and money market mutual funds that consist exclusively of U.S. Treasury securities. Bond funds in CAMP are invested in banker’s acceptance notes, certificates of deposit, commercial paper, federa l agency securities, and repurchase agreements. The most recent data on funds held by the fiscal agent is as of March 31, 2023.

In January 2017, the City established a Section 115 Irrevocable Trust (Public Agencies Post - Employment Benefits Trust) adminis tered by Public Agency Retirement Services (PARS). This fund is not governed by the City’s Investment Policy; however, it is discussed in this report to present the full picture of the City’s investments. It is the City’s intent to prefund pension costs and began to address the Net Pension Liabilities (NPL) as calculated by Governmental Accounting Standards Board Pronouncement No. 68 (GASB 68). The Section 115 Trust offered by PARS has five portfolios from which to choose in making investments of City fun ds. The City has selected the “Moderately Conservative” portfolio which is the second most conservative. Additional information on this trust can be found in City Council Staff Report ID # 75536. Through March 31, 2023, principal investment contributions of $ 45.3 million made over time since May 2017, has slightly increased to $47.5 million or by $2.2 million and the net return for one and five years has been -3.8% and 3.2% respectively. Since inception, $2.6 million net earnings ha ve been realized with $0.4 million in administrative expenses.

City’s Banking Relationships
Cash in bank balances (U.S. Bank and Wells Fargo) are maintained with a $3 -5 million balance range to cover recurring activity (A/P, payroll, investment purchases, etc.). These cash accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 each; balances beyond the FDIC insured amounts are collateralized under California law. California law requires banks to deposit securities as collateral with the State Treasurer valued at 110% of the amount beyond the FDIC insurance for public deposits. Both U.S. Ba nk and Wells Fargo meet these

4 City Council, April 11, 2017, under “Additional Information”:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2017/7858.pdf
5 City Council, September 21, 2020 Item #2:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2020-2/id-11402.pdf

6 City Council, January 23, 2017 Item #5:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2017/7553.pdf

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requirements. LAIF, a State of California run p rogram, and Fidelity’s Money Market Treasury Portfolio mutual fund (triple A rated). Each of the City’s investments in negotiable certificate of deposits (NCD) are under $250,000, therefore are fully FDIC or the credit union bank equivalent insured.

FISCAL/RESOURCE IMPACT
This is an information report.

STAKEHOLDER ENGAGEMENT
Staff works internally and with external parties (U.S. Bank’s custodial, U.S. Bank’s bonds, Wells Fargo and U.S. Bank’s banking, California Asset Management Program (CAMP), and Public Agency Retirement Services (PARS)) statements to prepare this report.

ENVIRONMENTAL REVIEW
This Council informational report is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the

ATTACHMENTS
Attachment A: Consolidated Report of Cash Management
Attachment B: Investment Portfolio
Attachment C: Investment Policy Compliance

APPROVED BY:

Kiely Nose, Assistant City Manager

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Book Value Market Value
City Investment Portfolio (see Attachment B) 597,235,589$ 535,130,982 $ Other Funds Held by the City
Cash with Wells Fargo Bank 594,155 594,155 (includes general and imprest accounts)
Cash with US Bank 1,460,024 1,460,024 Investment Custodial Cash with US Bank 1,014 1,014 Total - Other Funds Held By City 2,055,194 2,055,194 Funds Under Management of Third Party Trustees *
Debt Service Proceeds
US Bank Trust Services **
1999 Utility Revenue Bonds
Debt Service Fund 50 50 2009 Water Revenue Bonds (Build America Bonds)
Debt Service and Reserve Funds 2,476,962 2,476,962 2010 & 2013 General Obligation (Library) Bond
Debt Service and Escrow Funds 2,859,483 2,859,483 2011 Utility Revenue Refunding Bonds
Debt Service and Reserve Funds 721,152 721,152 2013 General Obligation (Library) Bond
Escrow Funds 2,427,926 2,427,926
2018 Capital Improvement (Golf Course & 2002B COP Refinance) (Taxable- Green Bond) Certificates of Participatio
n
Debt Service and Cost of Issuance Funds 321 321 2019 California Avenue Parking Garage Certificates of Participation (Tax-Exempt and Taxable Bonds)
Construction and Cost of Issuance Funds 1,349 1,349 2021 Public Safety Building Certificates of Participation Construction Debt Svc, Capitalized Interest, and Cost of Issuan 19,067,214 19,067,214 2022A & B General Obligation (Library) Bond
Cost of Issuance Funds 4,344 4,344 California Asset Management Program (CAMP) ***
2012 University Ave. Parking Refunding Bonds
Reserve Fund 2,785,309 2,785,309
2013 General Obligation (Library) Bond
Reserve Fund 257,822 257,822
Public Agencies Post-Employment Benefits Trust ****
Public Agency Retirement Services (PARS) 47,511,163 47,511,163 Total Under Trustee Management 78,113,095 78,113,095 GRAND TOTAL 677,403,877 $ 615,299,271 $
* These funds are subject to the requirements of the underlying debt indenture. ** U.S. Bank investments are in money market mutual funds that exclusively invest in U.S. Treasury securities. *** CAMP investments are in money market mutual fund which invest in bankers acceptance, certificate of deposit, commercial paper, federal agency securities, and repurchase agreements. **** PARS investments are in moderately conservative index plus funds Attachment A
Third Quarter, Fiscal Year 2022-23
(Unaudited)
Consolidated Report of Cash Management
City of Palo Alto Cash and Investments
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Consolidated Report of
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City of Palo Alto
City of Palo Alto
Administration Svcs. Dept.
250 Hamilton Ave., 4th Floor
Palo Alto, CA 94301
(650)329-2362
March 31, 2023
Fund ALL - Portfolio Listings
Investments by Fund
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket ValueCUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
LAIF & Fidelity Cash Accounts
Fidelity Investments158 17,054,124.12SYS158 14.47007/01/2020 17,054,124.12 4.408 4.47017,054,124.12 Local Agency Investment Fund159 17,442,312.02SYS159 12.87007/01/2020 172,070.21 2.830 2.87017,442,312.02 Subtotal and Average 34,496,436.14 34,496,436.14 17,226,194.33 3.611 3.661 1 Negotiable Certificates of Deposits
Achieve Federal Credit Union2831 NCD 249,000.0000453NAA9 02/17/2026 1,0534.65002/17/2023 247,291.86 4.589 4.653249,000.00 Affinity Plus Fed Credit Union2773 NCD 249,000.0000833AAB6 12/27/2023 2705.10012/27/2022 248,910.36 5.029 5.099249,000.00 Alaska USA Federal CU2850 NCD 249,000.00011852AK6 03/22/2028 1,8174.85003/22/2023 249,024.90 4.789 4.855249,000.00 Alliant Credit Union2781 NCD 249,000.0001882MAB8 12/30/2027 1,7344.95012/30/2022 249,908.85 4.884 4.952249,000.00 Alpine Bank1525 NCD 245,000.0002082CBG4 08/16/2023 1372.40002/16/2016 242,594.10 2.367 2.400245,000.00 Aneca Federal Credit Union2298 NCD 249,000.00034577AN6 03/20/2025 7191.10003/20/2020 230,999.79 1.085 1.100249,000.00 A+ Federal Creit Union2806 NCD 249,000.0000224TAL0 01/27/2025 6674.70001/27/2023 247,794.84 4.641 4.705249,000.00 Arsenal Credit Union2801 NCD 249,000.0004288LAA6 01/21/2025 6615.10001/20/2023 249,301.29 5.030 5.100249,000.00 American State Bank OSCE1805 NCD 245,000.00029733BX9 05/30/2024 4252.30005/30/2017 237,292.30 2.270 2.301245,000.00 Austin Telco Fed. Credit Union2732 NCD 249,000.00052392CC9 11/27/2026 1,3365.05011/28/2022 250,155.36 4.984 5.053249,000.00 American Express Centurion Bk2729 NCD 249,000.0002589AEG3 11/16/2027 1,6905.00011/16/2022 250,289.82 4.931 5.000249,000.00 Banner Capital Bank2453 NCD 249,000.0006654HAA6 11/28/2025 9720.45011/27/2020 221,306.22 0.493 0.500248,668.82 Bank of Wisconsin Dells2455 NCD 249,000.00065847EH4 07/28/2025 8491.05011/23/2020 227,775.24 0.542 0.549251,858.31 Baxter Credit Union2730 NCD 249,000.0007181JAU8 11/23/2026 1,3325.00011/22/2022 249,737.04 4.940 5.009249,000.00 Beal Bank - Plano, TX2668 NCD 249,000.0007371AYT4 02/24/2027 1,4252.05003/02/2022 223,855.98 2.053 2.081248,707.56 Texas Exchange Bank2346 NCD 249,000.0088241THJ2 06/13/2025 8041.00006/02/2020 228,589.47 0.986 1.000249,000.00 Century Next Bank2074 NCD 245,000.00156634AY3 08/30/2024 5171.70008/30/2019 233,825.55 1.678 1.701245,000.00 BankUnited NA2474 NCD 249,000.00066519QC6 01/22/2026 1,0270.55001/22/2021 220,663.80 0.592 0.600248,649.89 Blue Foundry Bank2755 NCD 249,000.0009549TAB1 03/19/2024 3534.70012/19/2022 248,026.41 4.633 4.697249,000.00 BMO Harris Bank2480 NCD 249,000.0005600XBX7 10/27/2028 2,0361.00001/27/2021 202,456.92 1.019 1.034248,552.15 BMW Bank of North America2448 NCD 249,000.0005580AXU3 11/20/2025 9640.50011/20/2020 222,083.10 0.493 0.500249,000.00 Beal Bank USA - Las Vegas, NV2669 NCD 249,000.0007371CH69 02/24/2027 1,4252.05003/02/2022 223,855.98 2.053 2.081248,707.56 Citigroup1950 NCD 245,000.0017312QJ67 04/22/2023 213.00004/24/2018 244,681.50245,000.00 California Credit Union2772 NCD 249,000.00130162AN0 12/27/2023 2705.00012/27/2022 248,609.07 4.931 5.000249,000.00 Encore Bank2343 NCD 249,000.0029260MBH7 05/21/2027 1,5111.15005/21/2020 214,003.05 1.134 1.150249,000.00 First Carolina Bank2389 NCD 248,000.0031944MBB0 08/20/2025 8720.45008/20/2020 223,006.56 0.444 0.450248,000.00 Celtic Bank2063 NCD 245,000.0015118RRH2 08/30/2024 5171.85008/30/2019 234,325.35 1.826 1.852245,000.00 Central State Bank IOWA2324 NCD 249,000.0015523RCP9 03/27/2025 7261.00003/27/2020 230,374.80 1.189 1.206248,010.00 Portfolio CPA
AP
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Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 2
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
City Federal Credit Union2785 NCD 249,000.0017783PAH4 01/18/2024 2924.90001/18/2023 248,531.88 4.834 4.901249,000.00 Cinfed Fed Credtit Union Bank2504 NCD 249,000.0017248MAC1 03/04/2027 1,4330.65003/04/2021 211,132.08 0.691 0.701248,511.43 Citadel Federal Credit Union2267 NCD 245,000.0017286TAG0 02/27/2025 6981.65002/27/2020 230,243.65 1.668 1.691244,812.80 Comerica Bank Texas2856 NCD 249,000.00200339FB0 09/30/2024 5485.25003/30/2023 249,786.84 5.179 5.251249,000.00 Enerbank USA2215 NCD 245,000.0029278TMR8 01/29/2025 6691.80001/29/2020 231,409.85 1.779 1.803245,000.00 Connexus Credit Union2643 NCD 249,000.0020825WAR1 12/23/2026 1,3621.25012/23/2021 217,972.11 1.273 1.291248,628.55 Capital One Bank USA NA2089 NCD 245,000.0014042TCP0 09/05/2024 5231.90009/05/2019 234,445.40 1.873 1.900245,000.00 Capital One Bank USA NA2609 NCD 249,000.0014042RQB0 11/17/2026 1,3261.10011/17/2021 217,792.83 1.084 1.100249,000.00 Communitywide Fed. Cr. Union2756 NCD 249,000.0020416TAW2 06/21/2024 4475.00012/21/2022 248,783.37 4.935 5.004249,000.00 Cooper Choice Network CU2834 NCD 249,000.0021686QAE9 02/23/2024 3285.10002/23/2023 248,945.22 5.029 5.099249,000.00 County Schools FCU2695 NCD 249,000.0022258JAB7 09/27/2027 1,6404.40009/30/2022 244,166.91 4.341 4.402249,000.00 Crescent Bank & Trust2296 NCD 248,000.00225645DN7 03/20/2025 7191.10003/20/2020 230,072.08 1.085 1.100248,000.00 Cental Valley Community Bank2862 NCD 249,000.0015568PAK2 03/31/2027 1,4605.30003/31/2023 249,468.12 5.231 5.304249,000.00 Country Club Bank2477 NCD 249,000.00222327AD0 01/29/2030 2,4951.10001/29/2021 194,802.66 1.154 1.170247,865.98 City National Bank2809 NCD 249,000.00178180GV1 01/27/2025 6674.50001/25/2023 246,930.81 4.438 4.500249,000.00 Decorah Bank Trust Company2690 NCD 249,000.00243594AR9 09/23/2027 1,6363.70009/23/2022 237,162.54 3.651 3.701249,000.00 Delta Natl Bank & TR2670 NCD 249,000.0024773RCR4 02/25/2027 1,4262.00003/09/2022 223,402.80 1.975 2.003249,000.00 Discover Bank / Delaware1956 NCD 245,000.00254673VJ2 10/24/2023 2063.35010/24/2018 242,677.40 3.304 3.350245,000.00 The District Fed Cr Union2778 NCD 249,000.0088340AAA9 12/23/2024 6325.15012/22/2022 249,089.64 5.079 5.150249,000.00 Eagle Cmty Credit Union2770 NCD 249,000.0026948GAF1 12/26/2023 2695.00012/23/2022 248,728.59 4.932 5.000249,000.00 Eaglemark Savings Bank2545 NCD 249,000.0027004PBV4 07/07/2026 1,1930.85007/07/2021 218,816.22 0.919 0.932248,349.27 Eagle Bank2040 NCD 245,000.0027002YEL6 04/28/2023 272.65004/30/2019 244,573.70 2.615 2.651245,000.00 Farmers & Merchant State Bank2486 NCD 249,000.00308682BM4 02/12/2029 2,1441.00002/12/2021 200,171.10 1.037 1.052248,269.19 Flagstar Bank FSB2414 NCD 249,000.0033847E4E4 09/30/2024 5480.40009/30/2020 232,456.44 0.394 0.400249,000.00 Poppy Bank2285 NCD 249,000.0073319FAF6 03/18/2025 7171.10003/18/2020 231,044.61 1.085 1.100249,000.00 First Federal S&L Bank1626 NCD 245,000.0032018YAW8 06/22/2023 821.80006/22/2016 243,275.20 1.776 1.800245,000.00 1st Financial Bank2390 NCD 248,000.0032022RNT0 08/19/2025 8710.45008/19/2020 223,033.84 0.444 0.450248,000.00 First Farmers Bank & Trust2076 NCD 245,000.00320165JK0 09/04/2024 5221.75009/04/2019 233,916.20 1.727 1.751245,000.00 Farmers Insurance Group CU2479 NCD 249,000.0030960QAK3 01/27/2026 1,0320.50001/27/2021 220,098.57 0.543 0.550248,648.18 First Class Community CU2759 NCD 249,000.0031976UAA6 12/16/2024 6255.05012/16/2022 249,002.49 4.985 5.054249,000.00 First Source Federal Cr Union2812 NCD 249,000.0033651FAF6 01/31/2024 3054.85001/31/2023 248,422.32 4.781 4.847249,000.00 First Oklahoma Bank2451 NCD 249,000.00335857CK2 11/30/2026 1,3390.65011/30/2020 213,465.21 0.691 0.701248,543.48 Farmers &Merchants Bank2644 NCD 249,000.00307811DM8 01/22/2030 2,4881.60001/14/2022 202,197.96 1.630 1.653248,154.25 First National Bank of America2465 NCD 249,000.0032110YRQ0 12/31/2026 1,3700.60012/31/2020 212,297.40 0.625 0.633248,688.61 Portfolio CPA
AP
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Report Ver. 7.3.11
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Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 3
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
FNB Bank Inc.1863 NCD 245,000.00330459CB2 10/13/2023 1952.25010/13/2017 241,381.35 2.220 2.251245,000.00 Freedom Bank of Virginia2858 NCD 249,000.0035633MCZ3 03/30/2028 1,8255.40003/30/2023 249,442.47 5.326 5.400249,000.00 First Foundation Bank2861 NCD 249,000.0032026UG83 12/30/2024 6395.00003/31/2023 249,057.27 4.931 5.000249,000.00 First Technology Federal Credi2845 NCD 249,000.0033715LET3 09/24/2024 5425.35003/24/2023 250,127.97 5.300 5.374249,000.00 First Community Credit Union2554 NCD 249,000.0031986JAD3 02/26/2027 1,4270.85007/28/2021 213,071.79 0.892 0.905248,477.21 Firstier Bank2061 NCD 245,000.0033766LAJ7 08/23/2024 5101.95008/23/2019 234,788.40 1.925 1.952245,000.00 Gesa Credit Union2456 NCD 249,000.0037424PAC8 11/30/2027 1,7040.80011/30/2020 206,777.07 0.825 0.836248,585.00 Grant County Bank West V.2042 NCD 245,000.00387625AA4 05/08/2024 4032.55005/08/2019 238,316.40 2.513 2.548245,000.00 Grow Financial Fed CU2846 NCD 249,000.0039981MAC6 03/25/2024 3595.35003/24/2023 249,570.21 5.276 5.350249,000.00 Greenwood Muni Fed Cr Union2811 NCD 249,000.0039729LAC5 10/27/2023 2094.75001/27/2023 248,551.80 4.688 4.753249,000.00 Greenwood Credit Union2725 NCD 249,000.00397129AJ6 05/28/2024 4234.95011/28/2022 248,626.50 4.877 4.945249,000.00 Goldman Sachs Bank USA / NY1951 NCD 245,000.0038148PJ81 05/09/2023 383.15005/09/2018 244,517.35 3.106 3.150245,000.00 Haddon Savings Bank2447 NCD 207,000.00404730DA8 10/20/2025 9330.35011/16/2020 184,530.15 0.491 0.498206,033.81 Bank Hapoalim BM2457 NCD 249,000.0006251A2Q2 12/15/2025 9890.50012/14/2020 221,413.29 0.543 0.550248,663.03 Harborstone Credit Union2776 NCD 249,000.0041166MAF2 03/27/2024 3615.10012/27/2022 248,975.10 5.027 5.097249,000.00 Healthcare Systems FCU2816 NCD 249,000.0042228LAM3 02/01/2027 1,4024.25001/30/2023 243,228.18 4.193 4.251249,000.00 IC Federal Credit Union2743 NCD 249,000.0044931EAD3 06/10/2024 4365.00012/09/2022 248,773.41 4.931 5.000249,000.00 INS Bank2757 NCD 249,000.0045776NFE1 12/14/2027 1,7184.90012/14/2022 248,820.72 4.835 4.902249,000.00 Insight Credit Union2836 NCD 249,000.0045791JAC0 02/27/2025 6985.10002/27/2023 249,321.21 5.036 5.105249,000.00 Interstate Credit Union2771 NCD 249,000.00460807AB6 12/26/2023 2695.00012/23/2022 248,728.59 4.932 5.000249,000.00 Inst. for Sav in Newburyport2556 NCD 249,000.0045780PAQ8 07/29/2026 1,2150.90007/29/2021 218,412.84 0.888 0.900249,000.00 Jonesboro State Bank2452 NCD 249,000.0048040PJL0 11/26/2027 1,7000.75011/27/2020 206,331.36 0.790 0.801248,420.14 Kansas State Bank Manhattan1798 NCD 245,000.0050116CAX7 05/31/2024 4262.50005/31/2017 237,831.30 2.465 2.500245,000.00 Kembra Financial Credit Union2731 NCD 249,000.0048836LAV4 11/25/2024 6045.15011/23/2022 249,082.17 5.083 5.154249,000.00 Knox TVA Empl Credit Union2140 NCD 248,000.00499724AF9 10/31/2023 2133.35010/24/2019 245,537.36 2.210 2.241249,532.90 Valley Strong Credit Union2748 NCD 249,000.00920133AJ4 12/13/2024 6225.10012/14/2022 249,089.64 5.038 5.108249,000.00 Lakeside Bank1686 NCD 245,000.0051210SLR6 09/18/2023 1701.80009/16/2016 241,371.55 1.775 1.800245,000.00 Legacy Bank & Trust Company2469 NCD 249,000.0052470QAN4 12/21/2028 2,0910.85012/30/2020 199,331.97 0.889 0.901248,285.05 Local Gov't Fed. Credit Union2823 NCD 249,000.0053955LAB3 02/12/2024 3174.90002/10/2023 248,516.94 4.830 4.897249,000.00 Liberty Federal Credit Union2741 NCD 249,000.0053052LAD1 12/05/2023 2485.00012/05/2022 248,798.31 4.931 5.000249,000.00 Liberty First Credit Union2803 NCD 249,000.00530520AC9 01/27/2026 1,0324.50001/27/2023 246,320.76 4.442 4.503249,000.00 Live Oak Banking Company2599 NCD 249,000.00538036SS4 10/18/2027 1,6611.10010/18/2021 210,683.88 1.135 1.151248,433.70 Loyola Univ Demployee FCU2777 NCD 249,000.0054912KAD1 06/23/2023 835.00012/23/2022 248,990.04 4.931 5.000249,000.00 Machias Savings Bank2819 NCD 249,000.00554479EK7 08/09/2024 4964.60002/09/2023 247,525.92 4.532 4.595249,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
14 Packet Pg. 558 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 4
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Malaga Bank FSB2402 NCD 249,000.0056102AAQ9 06/30/2025 8210.40008/31/2020 224,986.44 0.394 0.400249,000.00 Meritrust Federal Credit Union2672 NCD 249,000.0059001PAP4 03/10/2026 1,0740.55003/07/2022 221,659.80 1.904 1.930239,272.93 Medallion Bank - Salt Lake2010 NCD 245,000.0058404DDB4 01/03/2024 2773.30001/10/2019 241,643.50 3.254 3.299245,000.00 Merchants State Bank2059 NCD 245,000.00589227AG2 08/30/2024 5171.80008/30/2019 234,222.45 1.775 1.800245,000.00 Merrick Bank2610 NCD 249,000.0059013KPS9 05/19/2026 1,1441.10011/19/2021 221,530.32 1.152 1.168248,479.56 Minwest Bank MV2478 NCD 249,000.0060425SJQ3 01/29/2029 2,1301.00001/28/2021 200,405.16 1.024 1.039248,455.66 Maine Savings Credit Union2144 NCD 245,000.00560507AN5 11/08/2024 5871.90011/08/2019 233,259.60 1.875 1.902245,000.00 Mainstreet Bank2038 NCD 245,000.0056065GAG3 04/26/2024 3912.60004/26/2019 238,627.55 2.567 2.602245,000.00 Mountain America FD Credit Uni2719 NCD 249,000.0062384RAR7 05/09/2025 7694.85011/09/2022 248,529.39 4.825 4.892248,790.04 Morgan Stanley Bank NA2815 NCD 249,000.0061690UY20 02/02/2026 1,0384.25002/02/2023 244,687.32 4.191 4.250249,000.00 Morgan Stanley Bank NA2849 NCD 249,000.0061768EQV8 03/24/2025 7235.25003/23/2023 250,381.95 5.178 5.250249,000.00 Municipal Trust and Savings1800 NCD 245,000.00625925AP7 05/02/2024 3972.35005/22/2017 237,890.10 2.317 2.349245,000.00 New Brunswick Postal FCU2760 NCD 249,000.00642858AA2 12/15/2025 9895.00012/14/2022 249,064.74 4.931 5.000249,000.00 Customers Bank2848 NCD 249,000.0023204HNL8 09/23/2024 5415.30003/22/2023 249,938.73 5.227 5.300249,000.00 Northeast Community Bank2854 NCD 249,000.00664122AS7 03/28/2028 1,8235.45003/28/2023 249,483.06 5.375 5.450249,000.00 Numerica Credit Union1991 NCD 245,000.0067054NAN3 11/28/2023 2413.55011/28/2018 242,518.15 3.503 3.551245,000.00 Oklahomas Credit Union2751 NCD 249,000.0067886WAD9 12/16/2024 6255.00012/14/2022 249,014.94 4.938 5.006249,000.00 Oregon State Credit Union2765 NCD 249,000.0068609EAC5 03/21/2024 3555.05012/21/2022 248,850.60 4.978 5.047249,000.00 Pacific Western Bank2420 NCD 249,000.0069506YSA8 09/30/2025 9130.45009/30/2020 223,006.89 0.443 0.450249,000.00 Parkside Credit Union2825 NCD 249,000.0070146NAA5 02/21/2024 3265.00002/21/2023 248,728.59 4.930 4.999249,000.00 Pathfinder Bank2429 NCD 249,000.0070320KAR2 10/14/2025 9270.50010/13/2020 222,770.34 0.533 0.540248,747.32 People's Bank2468 NCD 249,000.00710665GD6 12/31/2029 2,4660.90012/30/2020 192,491.94 0.967 0.981247,692.75 Ponce De Leon Federal Bank2686 NCD 249,000.00732329BD8 09/15/2027 1,6283.50009/15/2022 235,215.36 3.453 3.501249,000.00 Pentagon Fed Cred Union2565 NCD 249,000.0070962LAE2 09/01/2026 1,2490.85009/01/2021 217,257.48 0.889 0.901248,574.20 Preferred Bank LA California2047 NCD 245,000.00740367HP5 08/16/2024 5032.00008/16/2019 235,077.50 1.972 2.000245,000.00 Pacific Alliance Bank2852 NCD 249,000.00693963AE0 03/27/2025 7265.15003/27/2023 249,933.75 5.087 5.157249,000.00 People Bank / Coldwater OH2853 NCD 249,000.00710275AD0 03/30/2027 1,4594.80003/30/2023 247,944.24 4.735 4.800249,000.00 Pony Express Bank2488 NCD 249,000.00732770BJ0 02/25/2030 2,5221.00002/24/2021 193,291.23 1.055 1.070247,854.05 People's Security Bank & Trust2863 NCD 249,000.00712303BF2 03/30/2028 1,8255.45003/30/2023 249,500.49 5.377 5.452249,000.00 Public Service Credit Union2796 NCD 249,000.00744562AS8 01/20/2028 1,7554.75001/20/2023 247,859.58 4.687 4.752249,000.00 Raiz Federal Credit Union2798 NCD 249,000.0075102EAC2 07/25/2024 4814.90001/25/2023 248,497.02 4.828 4.895249,000.00 Rayond James Bank NA2188 NCD 245,000.0075472RAU5 12/30/2024 6391.85012/30/2019 232,233.05 1.824 1.850245,000.00 Rogue Credit Union2717 NCD 249,000.0077535MAC7 11/10/2025 9544.90011/09/2022 249,000.00 4.868 4.935248,783.46 Sallie Mae Bank2102 NCD 245,000.007954504D4 09/18/2024 5361.90009/18/2019 234,210.20 1.873 1.900245,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
15 Packet Pg. 559 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 5
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Sawyer Savings Bank2710 NCD 249,000.00805508BT4 10/28/2027 1,6714.90010/28/2022 248,828.19 4.877 4.945248,544.27 State Bank of India2403 NCD 249,000.00856285UJ8 09/04/2025 8870.50009/04/2020 223,975.50 0.493 0.500249,000.00 Charles Schwab Bank2799 NCD 249,000.0015987UAJ7 01/18/2024 2924.65001/19/2023 247,954.20 4.586 4.650249,000.00 Select Bank Forest VA2857 NCD 249,000.0081618LAE7 03/31/2028 1,8265.40003/31/2023 249,535.35 5.332 5.406249,000.00 Stifel Bank & Trust1953 NCD 245,000.0086063QAK1 05/15/2023 442.95005/15/2018 244,397.30 2.911 2.951245,000.00 San Francisco Credit Union2297 NCD 249,000.0079772FAF3 03/27/2025 7261.10003/27/2020 230,845.41 1.085 1.100249,000.00 Sharonview Fed Credit Union2718 NCD 249,000.00819866BR4 10/31/2025 9445.00010/31/2022 249,042.33 4.966 5.035248,785.53 Signature Federal Credit Union2804 NCD 249,000.0082671DAB3 01/31/2028 1,7664.40001/31/2023 244,102.17 4.341 4.401249,000.00 Sunwest Bank2491 NCD 249,000.0086804DCQ9 02/17/2028 1,7830.80002/17/2021 205,225.80 0.861 0.873248,131.52 Somerset Trust Company Bank1616 NCD 245,000.00835104BL3 06/12/2023 721.80006/10/2016 243,498.15 1.776 1.800245,000.00 Space Age Federal Credit Union2807 NCD 249,000.0084611JAB9 01/26/2024 3005.05001/27/2023 248,825.70 4.985 5.054249,000.00 SPCO Credit Union2827 NCD 249,000.0078472EAC8 02/28/2028 1,7944.35002/27/2023 243,546.90 4.290 4.349249,000.00 First Source Bank2754 NCD 249,000.0033646CNJ9 06/16/2028 1,9035.05012/16/2022 248,977.59 4.980 5.050249,000.00 Southeast Bank2821 NCD 249,000.0084133PFL7 02/06/2025 6774.55002/06/2023 247,137.48 4.487 4.550249,000.00 ST Lawrence Federal CU2728 NCD 249,000.00791125AB3 11/22/2023 2354.95011/22/2022 248,758.47 4.881 4.949249,000.00 Southwest Financial Fed. Credi2333 NCD 249,000.0084485EAG2 03/28/2024 3621.15003/31/2020 239,458.32 1.134 1.150249,000.00 Synchrony Bank2563 NCD 249,000.0087165FZN7 08/20/2026 1,2370.90008/20/2021 218,148.90 0.887 0.900249,000.00 Technology Credit Union2797 NCD 249,000.0087868YAH6 07/21/2025 8425.10001/19/2023 249,082.17 5.031 5.100249,000.00 Texas Bank Henderson2464 NCD 249,000.00882214AA7 12/23/2025 9970.45012/23/2020 220,494.48 0.483 0.490248,728.09 Third Federal Savings and Loan2157 NCD 245,000.0088413QCK2 11/25/2024 6041.95011/25/2019 233,259.60 1.923 1.950245,000.00 Crossfirst Bank of Leawood1804 NCD 245,000.0022766ABF1 06/09/2023 692.15006/09/2017 243,679.45 2.121 2.151245,000.00 Toyota Financial Savings Bank2551 NCD 249,000.0089235MLC3 07/15/2026 1,2010.95007/15/2021 219,371.49 0.936 0.950249,000.00 Trustone Fin. Credit Union2745 NCD 249,000.0089841MAM9 12/14/2023 2575.00012/14/2022 248,768.43 4.931 5.000249,000.00 Ufirst Federal Credit Union2832 NCD 249,000.00902684AB5 08/25/2025 8774.85002/24/2023 248,549.31 4.787 4.854249,000.00 Uinta Bank1639 NCD 245,000.00903572BC8 12/26/2023 2691.70006/24/2016 239,350.30 1.676 1.700245,000.00 Umassfive College Fed Cr Union2742 NCD 249,000.0090407LAD5 03/08/2024 3424.95012/09/2022 248,133.48 4.879 4.947249,000.00 Uncle Credit Union2786 NCD 249,000.0090307LAA2 01/17/2024 2914.85001/17/2023 248,434.77 4.783 4.849249,000.00 United Heritage Credit Union2711 NCD 249,000.0091334AAC7 04/28/2025 7584.60010/28/2022 247,301.82 4.539 4.602249,000.00 Greenstate Credit Union2552 NCD 249,000.0039573LBM9 07/21/2026 1,2070.95007/21/2021 218,980.56 0.937 0.950249,000.00 USAlliance Federal Credit Unio2325 NCD 249,000.0090352RAU9 03/31/2025 7301.15003/31/2020 231,231.36 1.155 1.171248,900.45 USF Federal Credit Union2546 NCD 249,000.0090353EAR4 07/15/2031 3,0271.75007/15/2021 195,375.36 1.801 1.826247,555.30 Vystar Credit Union2136 NCD 245,000.0092891CCE0 12/11/2023 2543.65010/18/2019 242,523.05 2.170 2.200247,361.86 Washington Federal2049 NCD 245,000.00938828BJ8 08/23/2024 5102.05008/23/2019 235,116.70 2.024 2.052245,000.00 Washington State Emp CU2780 NCD 249,000.00939769AC9 12/29/2023 2725.00012/29/2022 248,728.59 4.931 4.999249,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
16 Packet Pg. 560 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 6
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Western State Bank2342 NCD 248,000.0095960NKE6 11/13/2025 9571.05005/13/2020 224,683.04 1.035 1.050248,000.00 Wells Fargo Bank2843 NCD 249,000.00949764AF1 03/17/2025 7165.25003/17/2023 250,367.01 5.185 5.257249,000.00 Wyoming Bank & Trust2446 NCD 249,000.0098321PAJ9 11/28/2025 9720.50011/27/2020 221,622.45 0.515 0.522248,801.29 Workers Fed Credit Union2749 NCD 249,000.0098138MAX8 12/14/2027 1,7185.10012/14/2022 249,072.21 5.032 5.102249,000.00 West Town Bank and Trust2855 NCD 249,000.00956310BM7 03/28/2028 1,8235.45003/28/2023 249,602.58 5.381 5.456249,000.00 Subtotal and Average 41,874,515.15 41,898,000.00 39,854,596.25 3.003 3.044 904 Corporate Medium Term Bonds
Apple, Inc.2053 MTN 1,500,000.00037833CU2 05/11/2024 4062.85008/06/2019 1,474,575.00 1.998 2.0251,512,594.75 Apple, Inc.2082 MTN 550,000.00037833AK6 05/03/2023 322.40008/29/2019 548,988.00 1.726 1.750550,306.27 Apple, Inc.2401 MTN 1,500,000.00037833DF4 01/13/2025 6532.75008/28/2020 1,460,970.00 0.620 0.6281,555,882.13 Apple, Inc.2489 MTN 700,000.00037833EB2 02/08/2026 1,0440.70002/08/2021 636,895.00 0.684 0.694700,114.86 Apple, Inc.2667 MTN 750,000.00037833CJ7 02/09/2027 1,4103.35002/23/2022 732,345.00 2.115 2.145781,320.52 Alphabet (Google) Inc.2507 MTN 200,000.0002079KAH0 08/15/2025 8670.45003/01/2021 183,442.00 0.668 0.678198,936.18 Alphabet (Google) Inc.2675 MTN 1,000,000.0002079KAC1 08/15/2026 1,2321.99803/14/2022 936,670.00 2.197 2.228992,644.27 Alphabet (Google) Inc.2689 MTN 1,000,000.0002079KAJ6 08/15/2027 1,5970.80009/14/2022 876,920.00 3.442 3.489892,781.00 Alphabet (Google) Inc.2837 MTN 2,800,000.0002079KAJ6 08/15/2027 1,5970.80002/15/2023 2,455,376.00 3.964 4.0202,442,663.14 Johnson & Johnson2466 MTN 2,000,000.00478160CN2 09/01/2025 8840.55012/23/2020 1,838,720.00 0.479 0.4862,003,047.73 Johnson & Johnson2508 MTN 2,000,000.00478160BY9 03/01/2026 1,0652.45003/01/2021 1,921,520.00 0.812 0.8232,088,218.55 Johnson & Johnson2509 MTN 1,000,000.00478160BY9 03/01/2026 1,0652.45003/01/2021 960,760.00 0.812 0.8241,044,097.96 Microsoft Corporation2212 MTN 1,800,000.00594918BX1 02/06/2024 3112.87501/22/2020 1,773,180.00 1.727 1.7511,815,820.56 Microsoft Corporation2450 MTN 2,920,000.00594918BJ2 11/03/2025 9473.12511/18/2020 2,847,759.20 0.572 0.5803,099,965.70 Microsoft Corporation2506 MTN 180,000.00594918BJ2 11/03/2025 9473.12503/01/2021 175,546.80 0.753 0.763190,221.93 Stanford University2182 MTN 1,000,000.00525555AB4 02/01/2024 3066.87512/12/2019 1,016,080.00 1.934 1.9601,039,143.05 Stanford University2648 MTN 1,500,000.0085440KAC8 06/01/2027 1,5221.28901/07/2022 1,339,485.00 1.479 1.5001,487,373.40 Stanford University2658 MTN 500,000.0085440KAC8 06/01/2027 1,5221.28902/01/2022 446,495.00 1.849 1.875488,431.10 Stanford University2709 MTN 1,530,000.0085440KAC8 06/01/2027 1,5221.28910/19/2022 1,366,274.70 4.487 4.5501,344,365.60 Stanford University2761 MTN 450,000.0085440KAC8 06/01/2027 1,5221.28912/12/2022 401,845.50 4.142 4.200400,702.91 Yale University2376 MTN 2,000,000.0098459LAA1 04/15/2025 7450.87307/01/2020 1,865,540.00 0.616 0.6252,009,758.28 Yale University2511 MTN 3,000,000.0098459LAA1 04/15/2025 7450.87303/01/2021 2,798,310.00 0.638 0.6463,013,354.45 Subtotal and Average 29,651,744.34 29,880,000.00 28,057,697.20 1.574 1.596 968 Federal Agency Bonds
Federal Agricultural Mortgage1428 404,000.0031315PL23 03/27/2024 3613.33001/09/2015 398,509.64 2.540 2.575406,665.82 Federal Agricultural Mortgage1433 1,604,000.0031315PD89 06/12/2023 722.61001/22/2015 1,597,632.12 2.269 2.3011,604,883.85 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
17 Packet Pg. 561 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 7
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Agricultural Mortgage1447 1,450,000.0031315PD89 06/12/2023 722.61002/09/2015 1,444,243.50 2.377 2.4101,450,514.58 Federal Agricultural Mortgage1580 474,000.0031315PEM7 08/04/2025 8564.35004/08/2016 477,128.40 2.296 2.328494,066.02 Federal Agricultural Mortgage1595 1,500,000.0031315P2J7 05/01/2024 3963.30004/21/2016 1,477,950.00 2.084 2.1121,517,655.26 Federal Agricultural Mortgage1604 1,500,000.0031315P2J7 05/01/2024 3963.30004/26/2016 1,477,950.00 2.159 2.1891,516,461.11 Federal Agricultural Mortgage1710 1,500,000.0031315PRA9 02/03/2026 1,0394.81010/18/2016 1,535,865.00 2.131 2.1601,601,695.87 Federal Agricultural Mortgage1867 1,000,000.003132X0WL1 08/23/2024 5102.25010/06/2017 969,340.00 2.332 2.365998,524.60 Federal Agricultural Mortgage1893 1,000,000.003130H0AU7 08/01/2024 4882.62501/09/2018 975,020.00 2.546 2.5811,000,526.33 Federal Agricultural Mortgage1901 1,500,000.003130H0AU7 08/01/2024 4882.62501/11/2018 1,462,530.00 2.623 2.6601,499,358.89 Federal Agricultural Mortgage1999 549,000.0031315P4B2 01/30/2024 3043.46012/14/2018 542,944.53 3.018 3.060550,673.97 Federal Agricultural Mortgage2034 1,000,000.0031422BEJ5 04/09/2024 3742.35004/09/2019 976,500.00 2.365 2.398999,535.91 Federal Agricultural Mortgage2035 678,000.0031315PCY3 11/20/2024 5995.25004/08/2019 687,193.68 2.420 2.454706,801.21 Federal Agricultural Mortgage2098 550,000.0031315PEM7 08/04/2025 8564.35009/09/2019 553,630.00 1.659 1.683582,564.38 Federal Agricultural Mortgage2301 1,569,000.0031315PB99 11/19/2027 1,6932.85003/11/2020 1,498,112.58 1.050 1.0641,693,280.67 Federal Agricultural Mortgage2340 Call 2,000,000.0031422BZS2 05/13/2030 2,5991.50005/13/2020 1,668,180.00 1.479 1.5002,000,000.00 Federal Agricultural Mortgage2366 Call 1,750,000.0031422BF54 06/24/2030 2,6411.40006/24/2020 1,444,292.50 1.380 1.4001,750,000.00 Federal Agricultural Mortgage2367 Call 2,000,000.0031422BF54 06/24/2030 2,6411.40006/24/2020 1,650,620.00 1.380 1.4002,000,000.00 Federal Agricultural Mortgage2381 Call 1,500,000.0031422BH78 07/08/2030 2,6551.40007/08/2020 1,238,160.00 1.380 1.4001,500,000.00 Federal Agricultural Mortgage2425 Call 2,000,000.0031422BX54 09/27/2030 2,7361.30010/08/2020 1,632,060.00 1.286 1.3042,000,000.00 Federal Agricultural Mortgage2435 Call 2,000,000.0031422BZ45 10/21/2030 2,7601.28010/21/2020 1,627,680.00 1.262 1.2802,000,000.00 Federal Agricultural Mortgage2439 Call 2,000,000.0031422B2E9 10/29/2030 2,7681.34010/29/2020 1,634,100.00 1.321 1.3402,000,000.00 Federal Agricultural Mortgage2449 1,500,000.0031422B3D0 11/20/2030 2,7901.15011/20/2020 1,228,500.00 1.134 1.1501,500,000.00 Federal Agricultural Mortgage2458 Call 1,500,000.0031422B4A5 12/11/2030 2,8111.30012/11/2020 1,215,540.00 1.282 1.3001,500,000.00 Federal Agricultural Mortgage2459 Call 2,000,000.0031422B3W8 12/16/2030 2,8161.45012/16/2020 1,638,600.00 1.430 1.4502,000,000.00 Federal Agricultural Mortgage2461 1,000,000.0031422B3D0 11/20/2030 2,7901.15012/09/2020 819,000.00 1.144 1.160999,232.34 Federal Agricultural Mortgage2471 1,500,000.0031422B6K1 01/15/2026 1,0200.48001/15/2021 1,365,570.00 0.493 0.5001,499,163.33 Federal Agricultural Mortgage2473 Call 1,500,000.0031422B6A3 01/15/2031 2,8461.29001/15/2021 1,211,595.00 1.319 1.3381,494,742.50 Federal Agricultural Mortgage2484 Call 1,000,000.0031422B7E4 01/28/2031 2,8591.32001/28/2021 808,890.00 1.301 1.3201,000,000.00 Federal Agricultural Mortgage2496 Call 1,500,000.0031422XAW2 02/25/2031 2,8871.53002/25/2021 1,230,735.00 1.509 1.5301,500,000.00 Federal Agricultural Mortgage2513 1,000,000.0031422XCB6 03/04/2031 2,8941.47003/04/2021 834,850.00 1.581 1.602990,299.80 Federal Agricultural Mortgage2519 1,500,000.0031422XDX7 03/27/2026 1,0910.83003/29/2021 1,372,920.00 0.828 0.8401,499,551.17 Federal Agricultural Mortgage2524 1,500,000.0031422XDX7 03/27/2026 1,0910.83003/31/2021 1,372,920.00 0.913 0.9261,495,776.28 Federal Agricultural Mortgage2527 Call 1,500,000.0031422XEE8 04/07/2031 2,9282.07004/07/2021 1,277,805.00 2.074 2.1031,496,617.50 Federal Agricultural Mortgage2529 2,000,000.0031422XEL2 04/13/2028 1,8391.37504/15/2021 1,769,160.00 1.311 1.3302,004,303.32 Federal Agricultural Mortgage2530 1,500,000.0031422XFJ6 04/29/2031 2,9501.66004/29/2021 1,236,015.00 1.627 1.6501,501,090.50 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
18 Packet Pg. 562 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 8
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Agricultural Mortgage2533 1,500,000.0031422XDX7 03/27/2026 1,0910.83005/20/2021 1,372,920.00 0.864 0.8761,497,983.19 Federal Agricultural Mortgage2540 255,000.0031422XDX7 03/27/2026 1,0910.83006/08/2021 233,396.40 0.820 0.831254,986.99 Federal Agricultural Mortgage2593 1,000,000.0031422XNM0 10/05/2026 1,2831.05010/05/2021 909,670.00 1.035 1.0501,000,000.00 Federal Agricultural Mortgage2621 1,000,000.0031422XPS5 11/17/2026 1,3261.15011/17/2021 910,510.00 1.272 1.290995,080.73 Federal Agricultural Mortgage2625 1,000,000.0031422XQM7 12/01/2026 1,3401.32012/01/2021 915,500.00 1.301 1.3201,000,000.00 Federal Agricultural Mortgage2634 1,500,000.0031422XRK0 01/04/2027 1,3741.32001/04/2022 1,370,820.00 1.301 1.3201,500,000.00 Federal Agricultural Mortgage2640 Call 1,500,000.0031422XRY0 12/29/2031 3,1942.15012/29/2021 1,267,245.00 2.120 2.1501,500,000.00 Federal Agricultural Mortgage2714 1,500,000.0031422XN32 10/24/2023 2064.72010/24/2022 1,499,595.00 4.655 4.7201,500,000.00 Federal Farm Credit Bank .1526 625,000.003133EAA65 07/26/2023 1162.12501/27/2016 619,850.00 2.024 2.052625,134.22 Federal Farm Credit Bank .1615 1,000,000.003133EC7D0 12/13/2024 6222.12505/13/2016 965,090.00 1.930 1.9561,002,618.33 Federal Farm Credit Bank .1787 900,000.003133EEVD9 03/25/2024 3592.30005/04/2017 881,037.00 2.274 2.306899,947.35 Federal Farm Credit Bank .1822 500,000.003133EDWX6 10/07/2024 5552.91006/21/2017 488,330.00 2.143 2.172505,140.84 Federal Farm Credit Bank .2016 500,000.003133EEG79 09/07/2023 1592.15001/15/2019 494,420.00 2.656 2.693498,898.90 Federal Farm Credit Bank .2017 650,000.003133EC2C7 11/09/2023 2222.13001/15/2019 639,470.00 2.662 2.699647,909.72 Federal Farm Credit Bank .2314 1,000,000.003133EAG44 08/03/2026 1,2202.63003/13/2020 960,500.00 1.089 1.1041,049,041.60 Federal Farm Credit Bank .2371 Call 1,500,000.003133ELQ31 07/01/2030 2,6481.33007/01/2020 1,232,460.00 1.311 1.3301,500,000.00 Federal Farm Credit Bank .2372 Call 1,500,000.003133ELQ31 07/01/2030 2,6481.33007/01/2020 1,232,460.00 1.311 1.3301,500,000.00 Federal Farm Credit Bank .2391 Call 1,500,000.003133EL3H5 08/12/2025 8640.57008/12/2020 1,382,010.00 0.587 0.5951,499,113.54 Federal Farm Credit Bank .2406 Call 1,500,000.003133EL4W1 08/25/2025 8770.61009/03/2020 1,381,950.00 0.611 0.6201,499,638.39 Federal Farm Credit Bank .2408 Call 1,500,000.003133EL4W1 08/25/2025 8770.61009/10/2020 1,381,950.00 0.611 0.6201,499,636.97 Federal Farm Credit Bank .2416 Call 1,500,000.003133EL7K4 09/16/2025 8990.55009/22/2020 1,377,315.00 0.542 0.5491,500,000.00 Federal Farm Credit Bank .2417 Call 1,500,000.003133EMBH4 09/29/2025 9120.53009/29/2020 1,375,245.00 0.522 0.5301,500,000.00 Federal Farm Credit Bank .2423 Call 1,500,000.003133EMBJ0 09/29/2025 9120.53009/29/2020 1,375,245.00 0.537 0.5451,499,438.75 Federal Farm Credit Bank .2427 Call 2,000,000.003133EMAZ5 06/24/2030 2,6411.25010/01/2020 1,632,820.00 1.246 1.2631,998,142.31 Federal Farm Credit Bank .2442 Call 1,500,000.003133EMFG2 11/04/2030 2,7741.37011/04/2020 1,223,700.00 1.351 1.3701,500,000.00 Federal Farm Credit Bank .2443 Call 1,500,000.003133EMFG2 11/04/2030 2,7741.37011/04/2020 1,223,700.00 1.351 1.3701,500,000.00 Federal Farm Credit Bank .2472 Call 1,500,000.003133EMNB4 01/14/2031 2,8451.38001/14/2021 1,220,025.00 1.361 1.3801,500,000.00 Federal Farm Credit Bank .2525 Call 1,500,000.003133EMRE4 02/18/2031 2,8801.42004/01/2021 1,220,910.00 1.834 1.8591,452,683.43 Federal Farm Credit Bank .2538 Call 1,000,000.003133EMUG5 03/24/2031 2,9141.98005/27/2021 846,920.00 1.887 1.9131,004,784.27 Federal Farm Credit Bank .2769 Call 1,500,000.003133EN4R8 12/21/2032 3,5526.08012/21/2022 1,496,205.00 5.996 6.0801,500,000.00 Federal Farm Credit Bank .2789 Call 1,500,000.003133EN5S5 01/10/2033 3,5725.90001/10/2023 1,495,965.00 5.819 5.9001,500,000.00 Federal Home Loan Bank1886 1,000,000.003130A3VC5 12/08/2023 2512.25001/03/2018 982,870.00 2.359 2.392999,092.98 Federal Home Loan Bank1896 1,000,000.003130A3DL5 09/08/2023 1602.37501/09/2018 989,950.00 2.376 2.409999,860.83 Federal Home Loan Bank2347 Call 1,500,000.003130AJMF3 11/28/2028 2,0681.32005/28/2020 1,299,330.00 1.301 1.3201,500,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
19 Packet Pg. 563 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 9
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Home Loan Bank2358 Call 1,000,000.003130AJP78 06/11/2029 2,2631.40006/11/2020 850,730.00 1.380 1.4001,000,000.00 Federal Home Loan Bank2361 Call 1,000,000.003130AJP78 06/11/2029 2,2631.40006/11/2020 850,730.00 1.427 1.447997,246.91 Federal Home Loan Bank2368 Call 900,000.003130AJR76 06/29/2029 2,2811.25006/29/2020 757,791.00 1.232 1.250900,000.00 Federal Home Loan Bank2369 Call 1,500,000.003130AJRG6 06/24/2030 2,6411.36006/24/2020 1,234,335.00 1.341 1.3601,500,000.00 Federal Home Loan Bank2375 Call 1,500,000.003130AJSR1 07/09/2030 2,6561.39007/09/2020 1,237,080.00 1.370 1.3901,500,000.00 Federal Home Loan Bank2377 Call 1,500,000.003130AJSR1 07/09/2030 2,6561.39007/09/2020 1,237,080.00 1.370 1.3901,500,000.00 Federal Home Loan Bank2384 Call 1,500,000.003130AJSR1 07/09/2030 2,6561.39007/09/2020 1,237,080.00 1.382 1.4011,498,800.08 Federal Home Loan Bank2395 Call 1,500,000.003130AJZ36 08/27/2025 8790.60008/27/2020 1,381,395.00 0.611 0.6201,499,278.33 Federal Home Loan Bank2399 Call 1,500,000.003130AJZ36 08/27/2025 8790.60008/27/2020 1,381,395.00 0.611 0.6201,499,278.33 Federal Home Loan Bank2405 Call 1,500,000.003130AK3Z7 09/29/2025 9120.57009/29/2020 1,376,640.00 0.582 0.5901,499,251.67 Federal Home Loan Bank2411 Call 1,180,000.003130AJZ36 08/27/2025 8790.60009/16/2020 1,086,697.40 0.591 0.5991,180,000.00 Federal Home Loan Bank2419 Call 1,500,000.003130AKAZ91 09/29/2025 9120.52009/29/2020 1,374,900.00 0.512 0.5201,500,000.00 Federal Home Loan Bank2445 Call 1,200,000.003130AJQS1 06/25/2030 2,6421.35011/04/2020 986,688.00 1.334 1.3531,199,711.92 Federal Home Loan Bank2475 Call 1,500,000.003130AKQN9 01/09/2031 2,8401.40001/28/2021 1,222,350.00 1.380 1.4001,500,000.00 Federal Home Loan Bank2476 Call 1,500,000.003130AKQV1 01/28/2031 2,8591.40001/28/2021 1,220,805.00 1.380 1.4001,500,000.00 Federal Home Loan Bank2485 Call 1,500,000.003130AKVH6 02/10/2031 2,8721.35002/10/2021 1,214,985.00 1.331 1.3501,500,000.00 Federal Home Loan Bank2490 Call 2,000,000.003130AKYB6 02/18/2031 2,8801.40002/18/2021 1,625,420.00 1.380 1.4002,000,000.00 Federal Home Loan Bank2494 Call 1,500,000.003130AL2J2 02/26/2031 2,8881.50002/26/2021 1,227,855.00 1.479 1.5001,500,000.00 Federal Home Loan Bank2500 Call 1,500,000.003130ALF66 02/25/2031 2,8871.62502/25/2021 1,239,585.00 1.602 1.6251,500,000.00 Federal Home Loan Bank2520 Call 1,925,000.003130ALF33 03/16/2026 1,0800.75003/25/2021 1,747,014.50 0.853 0.8651,918,589.78 Federal Home Loan Bank2607 Call 1,000,000.003130APPJ8 11/04/2031 3,1392.00011/04/2021 837,630.00 1.972 2.0001,000,000.00 Federal Home Loan Bank2613 Call 1,000,000.003130APV77 12/10/2026 1,3491.50012/10/2021 912,400.00 1.479 1.5001,000,000.00 Federal Home Loan Bank2616 Call 1,000,000.003130APW84 12/03/2026 1,3421.50012/03/2021 912,360.00 1.479 1.5001,000,000.00 Federal Home Loan Bank2618 Call 1,000,000.003130APXD2 12/17/2026 1,3561.55012/17/2021 913,200.00 1.528 1.5501,000,000.00 Federal Home Loan Bank2619 Call 1,000,000.003130APWY7 12/07/2026 1,3461.35012/07/2021 907,480.00 1.331 1.3501,000,000.00 Federal Home Loan Bank2620 Call 1,000,000.003130APXT7 12/17/2026 1,3561.60012/17/2021 914,790.00 1.578 1.6001,000,000.00 Federal Home Loan Bank2659 Call 1,000,000.003130AQSM6 02/25/2027 1,4262.05002/25/2022 927,990.00 2.021 2.0501,000,000.00 Federal Home Loan Bank2662 Call 1,000,000.003130AQX65 03/04/2027 1,4332.25003/04/2022 934,820.00 2.219 2.2501,000,000.00 Federal Home Loan Bank2663 Call 1,000,000.003130AQYA5 02/24/2027 1,4252.25002/28/2022 934,230.00 2.219 2.2501,000,000.00 Federal Home Loan Bank2664 Call 1,500,000.003130AQYG2 02/25/2027 1,4262.50002/28/2022 1,412,115.00 2.470 2.5041,500,000.00 Federal Home Loan Bank2665 Call 1,000,000.003130AQZD8 02/25/2027 1,4262.62502/25/2022 944,970.00 2.589 2.6251,000,000.00 Federal Home Loan Bank2703 1,500,000.003130ATKJ5 03/08/2024 3424.37510/14/2022 1,495,260.00 4.400 4.4611,498,853.60 Federal Home Loan Bank2737 1,500,000.003130ATYM3 11/22/2023 2354.87511/22/2022 1,501,620.00 4.838 4.9061,499,711.25 Federal Home Loan Bank2787 1,500,000.003130AUFY5 01/05/2024 2794.75001/05/2023 1,500,840.00 4.790 4.8561,498,824.08 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
20 Packet Pg. 564 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 10
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Home Loan Bank2794 Call 1,500,000.003130AUJJ4 01/27/2028 1,7625.55501/30/2023 1,494,525.00 5.479 5.5551,500,000.00 Federal Home Loan Bank2802 Call 1,500,000.003130AULM4 01/26/2033 3,5885.62001/26/2023 1,486,110.00 5.543 5.6201,500,000.00 Federal Home Loan Bank2824 1,000,000.003130AUU28 02/08/2024 3135.00002/08/2023 1,002,020.00 4.931 5.0001,000,000.00 Federal Home Loan Bank2844 500,000.003130AVCN0 03/13/2024 3475.37503/13/2023 502,995.00 5.311 5.385499,952.50 Fed. Home Loan Mortgage Corp.2345 Call 455,000.003134GVUA4 05/18/2028 1,8741.20005/18/2020 397,615.40 1.183 1.200455,000.00 Fed. Home Loan Mortgage Corp.2370 Call 1,500,000.003134GV3B2 06/28/2030 2,6451.40006/30/2020 1,237,545.00 1.380 1.4001,500,000.00 Fed. Home Loan Mortgage Corp.2373 Call 1,500,000.003134GV3U0 06/29/2029 2,2811.25006/29/2020 1,263,030.00 1.232 1.2501,500,000.00 Fed. Home Loan Mortgage Corp.2379 Call 1,500,000.003134GV4E5 12/29/2028 2,0991.20007/01/2020 1,285,500.00 1.183 1.1991,500,000.00 Fed. Home Loan Mortgage Corp.2380 Call 1,500,000.003134GV5D6 01/08/2029 2,1091.20007/08/2020 1,272,585.00 1.183 1.2001,500,000.00 Fed. Home Loan Mortgage Corp.2382 Call 1,500,000.003134GV5A2 07/15/2030 2,6621.37507/15/2020 1,235,280.00 1.356 1.3751,500,000.00 Fed. Home Loan Mortgage Corp.2386 Call 1,500,000.003134GV7L6 07/29/2030 2,6761.35007/29/2020 1,231,890.00 1.331 1.3501,500,000.00 Fed. Home Loan Mortgage Corp.2387 Call 1,500,000.003134GV7L6 07/29/2030 2,6761.35007/29/2020 1,231,890.00 1.331 1.3501,500,000.00 Fed. Home Loan Mortgage Corp.2396 Call 1,000,000.003134GWNC6 08/19/2025 8710.62508/20/2020 922,090.00 0.616 0.6251,000,000.00 Fed. Home Loan Mortgage Corp.2400 Call 1,500,000.003134GWC53 09/15/2025 8980.65009/15/2020 1,380,870.00 0.641 0.6501,500,000.00 Fed. Home Loan Mortgage Corp.2404 Call 1,447,000.003134GWA55 09/09/2025 8920.65009/09/2020 1,332,658.06 0.641 0.6501,447,000.00 Fed. Home Loan Mortgage Corp.2407 Call 1,500,000.003134GWD52 09/02/2025 8850.68009/04/2020 1,383,225.00 0.670 0.6791,500,000.00 Fed. Home Loan Mortgage Corp.2409 Call 1,500,000.003134GWP75 09/23/2025 9060.62509/23/2020 1,379,160.00 0.616 0.6251,500,000.00 Fed. Home Loan Mortgage Corp.2410 Call 1,000,000.003134GWP75 09/23/2025 9060.62509/23/2020 919,440.00 0.616 0.6251,000,000.00 Fed. Home Loan Mortgage Corp.2418 Call 1,500,000.003134GWVV5 10/15/2025 9280.50010/15/2020 1,379,490.00 0.493 0.5001,500,000.00 Fed. Home Loan Mortgage Corp.2421 Call 2,000,000.003134GWW93 09/30/2025 9130.55009/30/2020 1,834,480.00 0.542 0.5502,000,000.00 Fed. Home Loan Mortgage Corp.2422 Call 1,500,000.003134GWW93 09/30/2025 9130.55009/30/2020 1,375,860.00 0.542 0.5501,500,000.00 Fed. Home Loan Mortgage Corp.2424 Call 1,500,000.003134GWXK7 09/30/2025 9130.55009/30/2020 1,375,860.00 0.542 0.5501,500,000.00 Fed. Home Loan Mortgage Corp.2426 Call 1,500,000.003134GWXX9 10/15/2025 9280.55010/15/2020 1,374,210.00 0.542 0.5501,500,000.00 Fed. Home Loan Mortgage Corp.2428 Call 1,500,000.003134GWY26 10/08/2025 9210.57010/08/2020 1,375,605.00 0.562 0.5701,500,000.00 Fed. Home Loan Mortgage Corp.2430 Call 1,500,000.003134GWYZ3 10/28/2025 9410.53010/28/2020 1,372,110.00 0.522 0.5301,500,000.00 Fed. Home Loan Mortgage Corp.2431 Call 1,500,000.003134GWZ33 10/22/2030 2,7611.25010/22/2020 1,217,820.00 1.232 1.2501,500,000.00 Fed. Home Loan Mortgage Corp.2432 Call 1,500,000.003134GWZL3 10/29/2025 9420.57010/29/2020 1,373,475.00 0.562 0.5701,500,000.00 Fed. Home Loan Mortgage Corp.2433 Call 2,000,000.003134GW3T1 10/28/2030 2,7671.40010/28/2020 1,641,400.00 1.380 1.4002,000,000.00 Fed. Home Loan Mortgage Corp.2434 Call 1,500,000.003134GW3H7 10/29/2025 9420.61010/29/2020 1,375,005.00 0.601 0.6101,500,000.00 Fed. Home Loan Mortgage Corp.2436 Call 2,000,000.003134GWZZ2 10/28/2030 2,7671.30010/28/2020 1,629,200.00 1.282 1.3002,000,000.00 Fed. Home Loan Mortgage Corp.2437 Call 750,000.003134GW3Z7 10/28/2025 9410.60010/28/2020 687,315.00 0.591 0.600750,000.00 Fed. Home Loan Mortgage Corp.2438 Call 1,500,000.003134GW3X2 10/27/2025 9400.62510/27/2020 1,375,635.00 0.616 0.6251,500,000.00 Fed. Home Loan Mortgage Corp.2440 Call 1,500,000.003134GW6N1 11/05/2030 2,7751.40011/05/2020 1,226,385.00 1.380 1.4001,500,000.00 Fed. Home Loan Mortgage Corp.2444 Call 1,500,000.003134GW6N1 11/05/2030 2,7751.40011/05/2020 1,226,385.00 1.380 1.4001,500,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
21 Packet Pg. 565 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 11
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal National Mortgage Asso1715 500,000.0031364CCC0 04/30/2026 1,1257.12511/10/2016 545,815.00 2.367 2.400564,751.32 Federal National Mortgage Asso2392 Call 1,000,000.003136G4R62 08/28/2025 8800.62508/28/2020 921,420.00 0.616 0.6251,000,000.00 Federal National Mortgage Asso2393 Call 1,000,000.003136G4S87 08/27/2025 8790.65008/27/2020 922,060.00 0.641 0.6501,000,000.00 Federal National Mortgage Asso2394 Call 1,500,000.003136G4Q97 08/27/2025 8790.65008/27/2020 1,383,090.00 0.641 0.6501,500,000.00 Federal National Mortgage Asso2397 Call 1,500,000.003136G4V59 08/27/2025 8790.62508/27/2020 1,382,235.00 0.616 0.6251,500,000.00 Federal National Mortgage Asso2412 Call 1,500,000.003136G44G5 09/22/2025 9050.51509/22/2020 1,375,455.00 0.507 0.5151,500,000.00 Federal National Mortgage Asso2413 Call 1,500,000.003136G43L5 09/30/2025 9130.55009/30/2020 1,375,890.00 0.542 0.5501,500,000.00 Federal National Mortgage Asso2415 Call 1,500,000.003136G44L4 09/25/2025 9080.60009/25/2020 1,378,080.00 0.591 0.6001,500,000.00 Federal National Mortgage Asso2460 2,000,000.003135G05Q2 08/05/2030 2,6830.87512/07/2020 1,632,640.00 1.139 1.1551,961,183.83 Federal National Mortgage Asso2463 Call 1,500,000.003135GAAS0 12/23/2030 2,8231.40012/23/2020 1,223,760.00 1.380 1.4001,500,000.00 Federal National Mortgage Asso2467 Call 1,000,000.003135G06Q1 12/30/2025 1,0040.64012/30/2020 911,280.00 0.597 0.6051,000,928.56 Federal National Mortgage Asso2808 1,500,000.003135G05G4 07/10/2023 1000.25001/20/2023 1,482,690.00 4.688 4.7531,481,830.59 Tennessee Valley Authority1508 1,000,000.00880591CJ9 11/01/2025 9456.75011/20/2015 1,065,900.00 2.807 2.8461,087,278.72 Tennessee Valley Authority1519 750,000.00880591ER9 09/15/2024 5332.87501/15/2016 729,907.50 2.564 2.600752,669.12 Tennessee Valley Authority1589 775,000.00880591CJ9 11/01/2025 9456.75004/18/2016 826,072.50 2.337 2.370853,073.20 Tennessee Valley Authority1714 1,250,000.00880591CJ9 11/01/2025 9456.75011/10/2016 1,332,375.00 2.317 2.3501,377,425.26 Subtotal and Average 205,203,757.60 204,590,000.00 183,078,719.71 1.577 1.599 1,701 Treasury Securities (Notes)
U.S. Treasury2505 TB 1,500,000.0091282CBC4 12/31/2025 1,0050.37502/26/2021 1,367,220.00 0.731 0.7421,485,149.97 U.S. Treasury2516 TB 1,500,000.0091282CBQ3 02/28/2026 1,0640.50003/09/2021 1,363,305.00 0.819 0.8311,485,849.44 U.S. Treasury2587 TB 1,500,000.0091282CCP4 07/31/2026 1,2170.62509/24/2021 1,353,045.00 0.888 0.9011,486,525.73 U.S. Treasury2701 TB 1,000,000.0091282CFN6 09/30/2024 5484.25010/07/2022 998,870.00 4.142 4.1991,000,709.60 U.S. Treasury2740 TB 1,500,000.0091282CER8 05/31/2024 4262.50011/23/2022 1,466,370.00 4.636 4.7001,463,255.70 Subtotal and Average 6,921,490.44 7,000,000.00 6,548,810.00 2.103 2.132 874 Municipal Bonds
County of Alameda2173 MUN 290,000.00010878AS5 08/01/2026 1,2184.00012/05/2019 287,929.40 2.139 2.168306,397.83 County of Alameda2691 MUN 1,500,000.00010878BK1 08/01/2031 3,0443.69909/21/2022 1,428,030.00 4.281 4.3401,434,009.40 Alameda County Joint Pws Auth.2005 MUN 505,000.00010831DS1 06/01/2025 7923.36512/24/2018 495,430.25 3.175 3.220506,419.54 Alameda County Joint Pws Auth.2566 MUN 110,000.00010831DT9 06/01/2026 1,1573.39508/13/2021 106,931.00 0.925 0.938118,344.79 State of Alabama2835 MUN 1,000,000.00010411CT1 11/01/2026 1,3103.45002/15/2023 976,680.00 4.142 4.200975,310.40 Antelope Valley Community Coll2069 MUN 500,000.0003667PFN7 08/01/2024 4883.02608/16/2019 490,245.00 1.876 1.902507,115.29 Antelope Valley Community Coll2694 MUN 1,080,000.0003667PHJ4 08/01/2029 2,3141.66109/23/2022 906,325.20 4.389 4.450917,100.47 Antelope Valley Community Coll2705 MUN 300,000.0003667PGA4 08/01/2031 3,0442.33810/17/2022 250,977.00 5.128 5.200243,138.43 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
22 Packet Pg. 566 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 12
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Antelope Valley Community Coll2727 MUN 335,000.0003667PFZ0 08/01/2030 2,6792.21811/10/2022 284,224.05 5.640 5.719268,773.38 Antelope Valley Community Coll2784 MUN 675,000.0003667PHL9 08/01/2031 3,0441.86101/05/2023 542,767.50 4.911 4.980533,591.22 Bay Area Toll Authority2558 MUN 1,750,000.00072024XC1 04/01/2026 1,0961.07907/26/2021 1,591,485.00 0.739 0.7501,766,937.09 Berkeley Unified School Dist.2817 MUN 250,000.00084154G49 08/01/2031 3,0441.85601/26/2023 201,845.00 4.524 4.586203,336.05 Beverly Hills Public Fing Auth2612 MUN 350,000.00088006KA8 06/01/2026 1,1571.14711/15/2021 316,372.00 1.183 1.200349,429.30 Beverly Hills Public Fing Auth2680 MUN 490,000.00088006KB6 06/01/2027 1,5221.32704/01/2022 433,400.10 2.810 2.850461,271.77 Beverly Hills Unified Sch Dist2682 MUN 920,000.00088023PL4 08/01/2026 1,2182.70004/13/2022 872,049.60 2.644 2.681920,556.28 Burlingame School District1548 MUN 355,000.00121457EQ4 08/01/2025 8536.23802/24/2016 362,785.15 3.557 3.606373,351.68 City of Buena Park2734 MUN 685,000.00119174AJ9 07/01/2030 2,6481.88211/18/2022 565,488.05 5.076 5.147552,231.12 Burbank Unified School Distri.2570 MUN 1,000,000.0012082SDN1 08/01/2026 1,2181.36708/30/2021 910,850.00 0.947 0.9601,013,212.87 Cabrillo Community College Dis2119 MUN 2,000,000.00127109QD1 08/01/2027 1,5832.38510/08/2019 1,835,380.00 2.342 2.3752,000,000.00 Carlsbad Unified School Dist .1857 MUN 305,000.00142665DJ4 08/01/2026 1,2185.23409/27/2017 312,759.20 2.850 2.890325,890.97 CA Infrastructure -Econ Dev Bk2666 MUN 210,000.0013034AL73 10/01/2026 1,2791.03502/16/2022 188,136.90 2.224 2.254201,529.62 CA ST Dept of WTR Resources2633 MUN 180,000.0013067WRC8 12/01/2025 9750.79012/13/2021 164,361.60 1.301 1.320177,529.01 CA ST Dept of WTR Resources2645 MUN 300,000.0013067WRD6 12/01/2026 1,3400.92012/23/2021 266,904.00 1.430 1.450294,391.86 Chabot-Las Positas CCD2564 MUN 285,000.0015722TJR3 08/01/2026 1,2181.08008/16/2021 253,570.20 0.897 0.910286,574.92 Chabot-Las Positas CCD2589 MUN 125,000.0015722TJQ5 08/01/2025 8530.88009/29/2021 114,273.75 0.897 0.910124,913.39 Chabot-Las Positas CCD2764 MUN 770,000.0015722TJV4 08/01/2030 2,6791.79012/14/2022 629,906.20 5.069 5.140615,123.88 Chabot-Las Positas CCD2830 MUN 205,000.0015722TJS1 08/01/2027 1,5831.28702/13/2023 178,120.40 4.296 4.356180,464.10 Chabot-Las Positas CCD2842 MUN 1,000,000.0015722TJQ5 08/01/2025 8530.88003/07/2023 914,190.00 4.783 4.850913,530.56 Chaffey Community Clg District2698 MUN 300,000.00157432KL8 06/01/2030 2,6182.32910/06/2022 258,504.00 4.931 5.000252,756.50 Chaffey Community Clg District2712 MUN 500,000.00157432KK0 06/01/2029 2,2532.22910/21/2022 437,695.00 5.216 5.289421,231.97 City of Chula Vista2653 MUN 1,000,000.0017131RAU0 06/01/2026 1,1570.84001/10/2022 880,890.00 1.676 1.700973,861.48 Calleguas Municipal Water Dist2544 MUN 550,000.0013124MCE3 07/01/2029 2,2831.86507/01/2021 472,499.50 1.425 1.445563,586.72 Calleguas Municipal Water Dist2646 MUN 600,000.0013124MCB9 07/01/2026 1,1871.09712/27/2021 539,784.00 1.233 1.250597,103.82 Calleguas Municipal Water Dist2791 MUN 170,000.0013124MCB9 07/01/2026 1,1871.09701/09/2023 152,938.80 4.625 4.690151,876.59 Campbell Union High Sch Dist2753 MUN 500,000.00134159A77 08/01/2029 2,3141.47212/07/2022 415,445.00 4.714 4.780411,152.38 Corona-Norco Unified School Di2704 MUN 700,000.00219766QU9 09/01/2030 2,7102.11410/14/2022 581,826.00 5.178 5.250568,043.46 City of Corona2601 MUN 500,000.0021969AAJ1 05/01/2030 2,5872.24210/14/2021 418,605.00 2.052 2.081505,196.13 Contra Costa Community College2103 MUN 400,000.00212204JJ1 08/01/2028 1,9492.21309/12/2019 359,468.00 2.071 2.100402,184.68 Contra Costa Community College2120 MUN 990,000.00212204JK8 08/01/2029 2,3142.26309/20/2019 874,288.80 2.505 2.539974,731.64 Contra Costa Community College2244 MUN 1,500,000.00212204JK8 08/01/2029 2,3142.26302/07/2020 1,324,680.00 2.100 2.1301,511,379.96 Contra Costa Community College2291 MUN 320,000.00212204JF9 08/01/2025 8531.91803/09/2020 301,974.40 1.128 1.143325,590.54 Contra Costa Community College2555 MUN 1,000,000.00212204LM1 08/01/2026 1,2181.30008/02/2021 905,900.00 0.764 0.7751,017,129.52 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
23 Packet Pg. 567 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 13
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Desert Community Clg Dist2611 MUN 200,000.00250375JX1 08/01/2027 1,5831.16911/12/2021 174,872.00 1.479 1.500197,258.82 Desert Community Clg Dist2738 MUN 200,000.00250375LA8 08/01/2027 1,5833.00011/23/2022 189,152.00 4.965 5.034184,461.00 Desert Sands Unif Sch District2635 MUN 880,000.00250433UA5 08/01/2026 1,2181.98212/16/2021 811,201.60 1.390 1.410896,179.32 City of El Segundo2696 MUN 935,000.00284035AK8 07/01/2031 3,0132.26709/29/2022 772,805.55 5.118 5.190755,599.52 Federal Farm Credit Bank .2829 500,000.003133EPAF2 02/08/2024 3134.75002/10/2023 499,775.00 4.833 4.900499,378.28 Federal Home Loan Bank2833 1,180,000.00313383YJ4 09/08/2023 1603.37502/14/2023 1,172,613.20 4.932 5.0011,171,826.76 Fremon Union High School Distr1646 MUN 510,000.00357172VA0 02/01/2026 1,0376.08006/28/2016 526,763.70 2.994 3.035548,416.16 Fremon Union High School Distr2595 MUN 235,000.00357172C52 08/01/2031 3,0442.02010/01/2021 192,222.95 1.825 1.851238,005.21 Foothill-De Anza Comm Clg Dist2699 MUN 1,230,000.00345102PF8 08/01/2024 4880.57510/06/2022 1,167,516.00 4.241 4.3001,171,825.32 Foothill-De Anza Comm Clg Dist2818 MUN 540,000.00345102PG6 08/01/2025 8530.90601/27/2023 498,441.60 4.172 4.230500,656.22 Fullerton School District1916 MUN 995,000.00359819DN6 08/01/2026 1,2183.16002/14/2018 955,667.65 3.028 3.070997,605.87 Fullerton School District1917 MUN 750,000.00359819DM8 08/01/2025 8533.04002/14/2018 724,845.00 2.959 3.000750,618.98 Fullerton School District2085 MUN 365,000.00359819DN6 08/01/2026 1,2183.16008/29/2019 350,571.55 1.913 1.940378,825.47 State of Georgia1666 MUN 1,825,000.003733844V5 02/01/2025 6722.37507/29/2016 1,760,614.00 1.972 1.9991,836,482.48 State of Georgia1775 MUN 250,000.00373384RX6 10/01/2025 9144.00004/10/2017 246,555.00 2.739 2.777256,768.44 State of Georgia1919 MUN 1,095,000.00373384RY4 10/01/2026 1,2794.31001/26/2018 1,088,221.95 2.979 3.0201,138,216.85 State of Georgia1945 MUN 200,000.00373384RY4 10/01/2026 1,2794.31003/19/2018 198,762.00 3.204 3.248206,434.38 State of Georgia1962 MUN 390,000.00373384SP2 10/01/2023 1833.74010/25/2018 387,644.40 3.093 3.136391,082.65 State of Georgia1967 MUN 350,000.00373385BU6 02/01/2027 1,4022.72010/31/2018 332,290.00 3.412 3.460341,421.46 State of Georgia2086 MUN 1,500,000.00373384RV0 10/01/2023 1833.72008/29/2019 1,490,805.00 1.749 1.7741,514,015.42 State of Georgia2229 MUN 425,000.00373384RY4 10/01/2026 1,2794.31001/31/2020 422,369.25 1.837 1.863459,087.84 State of Georgia2332 MUN 1,000,000.00373384RW8 10/01/2024 5493.82003/23/2020 985,480.00 1.889 1.9151,027,270.65 City of Glendora2109 MUN 1,345,000.00378612AL9 06/01/2028 1,8882.26509/16/2019 1,199,928.30 2.318 2.3501,339,669.42 City of Glendora2137 MUN 400,000.00378612AL9 06/01/2028 1,8882.26510/02/2019 356,856.00 2.194 2.225400,744.24 City of Glendora2590 MUN 1,365,000.00378612AJ4 06/01/2026 1,1572.10809/29/2021 1,263,457.65 1.075 1.0901,407,778.87 Glendale Unified School Dist.2697 MUN 400,000.00378460ZC6 09/01/2031 3,0751.84209/30/2022 324,452.00 4.941 5.010314,824.07 Glendale Unified School Dist.2739 MUN 535,000.00378460A74 09/01/2027 1,6141.11311/25/2022 466,236.45 4.686 4.751458,848.22 Grossmont-Cuyamaca Cmnty Clg D2721 MUN 450,000.00399267HH9 08/01/2027 1,5831.48211/02/2022 400,041.00 5.227 5.300384,918.15 State of Hawaii1685 MUN 1,045,000.00419792DA1 10/01/2026 1,2793.15010/19/2016 1,007,850.25 2.431 2.4651,067,081.01 State of Hawaii1961 MUN 250,000.00419791YS1 02/01/2025 6725.23010/25/2018 252,907.50 3.363 3.410257,449.14 State of Hawaii1995 MUN 800,000.00419791YT9 02/01/2026 1,0375.33012/06/2018 820,080.00 3.304 3.350839,598.97 State of Hawaii2820 MUN 700,000.00419792F92 08/01/2025 8531.03301/30/2023 648,130.00 4.172 4.230650,936.91 City of Huntington Beach2560 MUN 1,000,000.00446201AE5 06/15/2026 1,1711.34408/12/2021 897,070.00 0.909 0.9211,013,195.19 City of Huntington Beach2562 MUN 1,000,000.00446201AE5 06/15/2026 1,1711.34408/13/2021 897,070.00 0.927 0.9391,012,626.43 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
24 Packet Pg. 568 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 14
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
City of Huntington Beach2790 MUN 805,000.00446216HN6 05/01/2029 2,2221.73101/09/2023 684,853.75 4.931 5.000669,124.04 City of Huntington Beach2840 MUN 175,000.00446201AE5 06/15/2026 1,1711.34403/03/2023 156,987.25 5.340 5.414154,330.02 Liberty Union High Sch Distr2768 MUN 530,000.00530319SP8 08/01/2028 1,9491.48412/15/2022 456,282.30 4.614 4.678451,394.67 City of La Habra2660 MUN 500,000.00503433AK0 08/01/2031 3,0442.67302/07/2022 426,215.00 2.638 2.675499,912.13 Los Altos Elementary Sch Distr2681 MUN 500,000.00544290JH3 10/01/2024 5491.00003/24/2022 473,450.00 2.522 2.557488,738.59 City of Los Angeles1748 MUN 1,000,000.00544351KS7 09/01/2023 1532.64002/14/2017 989,320.00 2.784 2.8231,000,113.28 City of Los Angeles1969 MUN 295,000.00544351NP0 09/01/2026 1,2493.30011/02/2018 285,565.90 3.530 3.579292,553.11 City of Los Angeles2008 MUN 1,000,000.00544351MS5 09/01/2026 1,2493.50001/07/2019 974,300.00 3.077 3.1191,011,455.88 City of Los Angeles2200 MUN 840,000.00544351NQ8 09/01/2027 1,6143.40001/06/2020 809,314.80 2.360 2.393873,935.39 City of Los Angeles2213 MUN 985,000.00544351LQ0 09/01/2029 2,3453.05001/22/2020 914,503.55 2.413 2.4461,018,791.48 City of Los Angeles2283 MUN 1,000,000.00544351KV0 09/01/2026 1,2493.15003/05/2020 963,320.00 1.519 1.5411,052,122.30 City of Los Angeles2692 MUN 1,000,000.00544351QX0 09/01/2032 3,4414.40009/28/2022 981,750.00 4.346 4.406999,525.61 City of Los Angeles2783 MUN 300,000.00544351MR7 09/01/2025 8843.45012/23/2022 293,970.00 4.724 4.790290,970.15 City of Los Angeles2800 MUN 310,000.00544351KT5 09/01/2024 5192.84001/17/2023 302,715.00 4.290 4.350303,654.34 Los Angeles Community College2487 MUN 1,000,000.0054438CYN6 08/01/2030 2,6791.80601/28/2021 848,490.00 1.432 1.4521,024,174.27 Los Angeles Community College2592 MUN 250,000.0054438CYL0 08/01/2026 1,2181.17409/30/2021 225,655.00 1.064 1.078250,770.25 Los Angeles Community College2614 MUN 1,500,000.0054438CYL0 08/01/2026 1,2181.17411/15/2021 1,353,930.00 1.233 1.2501,496,306.60 Los Angeles Community College2642 MUN 275,000.0054438CYL0 08/01/2026 1,2181.17412/21/2021 248,220.50 1.282 1.300273,880.78 Los Angeles Cnty Met Tran Auth2641 MUN 1,000,000.005447122K7 06/01/2025 7925.13012/21/2021 1,007,610.00 1.085 1.1001,085,520.89 Los Angeles Dept. of WTR & PWR1949 MUN 1,500,000.00544495VX9 07/01/2027 1,5525.51603/29/2018 1,564,050.00 3.254 3.3001,620,838.78 Los Angeles Dept. of WTR & PWR1965 MUN 425,000.00544495VX9 07/01/2027 1,5525.51610/29/2018 443,147.50 3.600 3.650453,657.24 State of Massachusetts2227 MUN 250,000.0057582PUT5 05/01/2029 2,2224.91001/30/2020 254,375.00 2.331 2.363284,603.78 State of Massachusetts2543 MUN 1,000,000.0057582PUT5 05/01/2029 2,2224.91007/01/2021 1,017,500.00 1.484 1.5051,195,010.96 State of Massachusetts2684 MUN 1,000,000.0057582PUS7 05/01/2027 1,4914.76004/05/2022 1,021,120.00 2.968 3.0101,065,787.73 State of Maryland2184 MUN 500,000.005741926N5 08/01/2025 8534.35012/16/2019 498,310.00 2.089 2.118524,411.85 State of Maryland2581 MUN 245,000.005741926N5 08/01/2025 8534.35009/23/2021 244,171.90 0.690 0.700265,548.86 State of Maryland - Dept/Trans2134 MUN 1,000,000.00574204WH2 06/15/2023 754.45010/15/2019 999,390.00 1.893 1.9201,004,997.24 State of Michigan2002 MUN 825,000.005946108C4 05/15/2026 1,1403.85012/21/2018 808,599.00 3.452 3.500832,870.22 Milpitas Unified School Distr2746 MUN 630,000.00601670ML3 08/01/2028 1,9491.45112/02/2022 542,757.60 4.802 4.869530,595.35 City of Manhattan Beach2647 MUN 650,000.00562784AM0 01/01/2032 3,1972.34101/05/2022 538,395.00 2.129 2.159658,369.92 Menlo Park City School Dist.2104 MUN 1,000,000.00586840ND8 07/01/2027 1,5522.21410/08/2019 919,210.00 2.183 2.2141,000,000.00 Mtn. View-Whisman School Dist.2708 MUN 1,135,000.0062451FJE1 09/01/2026 1,2491.89310/19/2022 1,057,150.35 4.487 4.5501,041,458.63 Marin Community College Dist.1858 MUN 500,000.0056781RGU5 08/01/2027 1,5833.27209/28/2017 482,695.00 2.791 2.830508,301.95 Marin Community College Dist.1973 MUN 120,000.0056781RGT8 08/01/2026 1,2183.17211/05/2018 116,236.80 3.452 3.500118,857.20 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
25 Packet Pg. 569 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 15
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Marin Community College Dist.2084 MUN 250,000.0056781RJL2 08/01/2027 1,5833.33008/29/2019 241,915.00 1.874 1.900264,317.32 Marin Community College Dist.2287 MUN 310,000.0056781RJJ7 08/01/2025 8535.00003/06/2020 314,863.90 1.193 1.210336,457.71 Marin Community College Dist.2495 MUN 1,000,000.0056781RKH9 08/01/2030 2,6791.45102/25/2021 816,130.00 1.431 1.4511,000,000.00 Marin Community College Dist.2499 MUN 710,000.0056781RKH9 08/01/2030 2,6791.45102/25/2021 579,452.30 1.470 1.490708,068.20 Marin Community College Dist.2568 MUN 1,000,000.0056781RKU0 08/01/2026 1,2180.89309/14/2021 898,620.00 0.880 0.8931,000,000.00 Marin Community College Dist.2588 MUN 285,000.0056781RKD8 08/01/2026 1,2180.67909/29/2021 254,231.40 1.025 1.040281,662.46 Mt. San Antonio Community Coll1489 MUN 1,335,000.00623040GX4 08/01/2023 1224.10310/26/2015 1,331,302.05 2.490 2.5251,341,338.65 Mt. San Antonio Community Coll2208 MUN 230,000.00623040KQ4 08/01/2029 2,3142.56902/04/2020 206,466.40 2.533 2.569230,000.00 Mt. San Antonio Community Coll2661 MUN 785,000.00623040KX9 08/01/2030 2,6792.64902/07/2022 695,329.45 2.173 2.203808,289.05 State of Mississippi1968 MUN 1,500,000.00605581LM7 11/01/2026 1,3103.75111/07/2018 1,470,105.00 3.377 3.4241,515,209.34 State of Mississippi1972 MUN 500,000.00605581LM7 11/01/2026 1,3103.75111/07/2018 490,035.00 3.401 3.449504,677.04 State of Mississippi2087 MUN 750,000.00605581HL4 12/01/2024 6102.98708/30/2019 729,885.00 1.745 1.770764,461.40 State of Mississippi2090 MUN 500,000.00605581HL4 12/01/2024 6102.98709/04/2019 486,590.00 1.783 1.807509,332.27 State of Mississippi2096 MUN 150,000.006055805W5 11/01/2025 9454.68109/09/2019 150,775.50 1.888 1.914160,094.83 State of Mississippi2189 MUN 250,000.006055805V7 11/01/2024 5804.51112/19/2019 249,237.50 2.079 2.108258,993.28 State of Mississippi2329 MUN 1,000,000.00605581LJ4 11/01/2023 2143.40803/20/2020 991,030.00 1.626 1.6491,009,948.33 State of Mississippi2626 MUN 1,000,000.00605581QR1 10/01/2031 3,1052.11712/09/2021 833,370.00 1.992 2.0201,007,433.41 State of Mississippi2629 MUN 250,000.00605581LL9 11/01/2025 9453.64612/06/2021 245,067.50 1.080 1.095266,083.04 State of Mississippi2713 MUN 1,000,000.00605581FF9 10/01/2032 3,4713.72910/21/2022 941,200.00 4.961 5.030908,557.99 City of Napa Solid Waste2055 MUN 595,000.00630337AL7 08/01/2024 4882.20008/08/2019 574,026.25 1.968 1.996596,532.33 New York St Envrnmntl Facs2007 MUN 450,000.0064985HWS2 07/15/2024 4712.12001/04/2019 435,528.00 2.860 2.900445,847.07 New York State Urban Dev Corp.2097 MUN 700,000.006500357D4 03/15/2026 1,0793.07009/09/2019 678,293.00 2.071 2.100718,661.27 New York State Urban Dev Corp.2683 MUN 1,000,000.00650036AV8 03/15/2027 1,4441.49603/28/2022 900,070.00 2.777 2.816951,574.44 New York State Envrnmntl Corp2146 MUN 1,500,000.00649791PQ7 02/15/2025 6862.12010/31/2019 1,432,575.00 2.063 2.0911,500,780.14 New York State Envrnmntl Corp2224 MUN 580,000.00649791PS3 02/15/2027 1,4162.36001/30/2020 538,477.80 1.933 1.960588,349.92 New York State Envrnmntl Corp2575 MUN 1,500,000.00649791PR5 02/15/2026 1,0512.26009/13/2021 1,412,190.00 0.794 0.8051,561,455.45 New York State Envrnmntl Corp2677 MUN 1,000,000.00649791PS3 02/15/2027 1,4162.36003/16/2022 928,410.00 2.325 2.3581,000,063.04 New York State Envrnmntl Corp2678 MUN 1,000,000.00649791PS3 02/15/2027 1,4162.36003/21/2022 928,410.00 2.367 2.400998,530.14 City of Oakland2293 MUN 1,500,000.00672240WY0 01/15/2030 2,4812.11003/09/2020 1,287,930.00 1.436 1.4561,561,740.98 City of Oakland2307 MUN 1,500,000.00672240WY0 01/15/2030 2,4812.11003/13/2020 1,287,930.00 1.638 1.6611,542,010.99 City of Oakland2313 MUN 1,080,000.00672240WY0 01/15/2030 2,4812.11003/16/2020 927,309.60 2.247 2.2791,068,879.56 City of Oakland2316 MUN 1,500,000.00672240WX2 01/15/2029 2,1162.07003/16/2020 1,315,770.00 2.151 2.1811,491,150.05 City of Oakland Pension2630 MUN 450,000.00672319CF5 12/15/2025 9894.67612/06/2021 449,127.00 1.562 1.584486,322.94 Ohlone Community College Distr2165 MUN 600,000.00677765GY9 08/01/2027 1,5832.23711/22/2019 550,050.00 2.271 2.303598,424.79 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
26 Packet Pg. 570 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 16
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Ohlone Community College Distr2175 MUN 280,000.00677765GY9 08/01/2027 1,5832.23712/06/2019 256,690.00 2.327 2.360278,639.66 Ohlone Community College Distr2179 MUN 970,000.00677765HA0 08/01/2029 2,3142.33712/11/2019 859,061.10 2.382 2.415965,729.76 Ohlone Community College Distr2341 MUN 1,185,000.00677765GZ6 08/01/2028 1,9492.28705/08/2020 1,067,471.70 1.849 1.8751,208,995.95 State of Ohio1688 MUN 800,000.00677522JB1 05/01/2023 302.11009/13/2016 798,392.00 1.764 1.788800,201.01 State of Ohio1742 MUN 2,000,000.00677522JB1 05/01/2023 302.11001/31/2017 1,995,980.00 2.485 2.5201,999,370.93 State of Ohio1832 MUN 900,000.006775207G7 04/01/2024 3664.97106/30/2017 902,538.00 2.416 2.450920,788.78 State of Ohio2308 MUN 500,000.00677521CT1 09/01/2026 1,2495.26203/13/2020 518,030.00 1.710 1.734556,765.98 City of Ontario (Pub Fin Auth)2847 MUN 600,000.00683050BW7 08/01/2026 1,2181.44003/17/2023 544,722.00 4.339 4.400545,525.54 Orange Cnty Water District2578 MUN 315,000.0068442CCY0 08/15/2025 8672.09509/16/2021 298,393.20 0.690 0.700325,264.00 Orchard School District1910 MUN 200,000.00685585FD8 08/01/2027 1,5833.12501/25/2018 194,184.00 3.208 3.253199,073.43 State of Oregon1974 MUN 500,000.0068607LXQ5 06/01/2027 1,5225.89211/06/2018 522,605.00 3.516 3.565535,457.32 State of Oregon2015 MUN 445,000.0068607LXQ5 06/01/2027 1,5225.89201/16/2019 465,118.45 3.537 3.587481,622.84 State of Oregon2223 MUN 570,000.0068609TDT2 05/01/2024 3963.22701/30/2020 561,381.60 1.641 1.664579,275.33 State of Oregon2230 MUN 495,000.0068607LXQ5 06/01/2027 1,5225.89201/31/2020 517,378.95 2.583 2.619556,031.25 State of Oregon2266 MUN 1,000,000.0068607LXQ5 06/01/2027 1,5225.89202/24/2020 1,045,210.00 2.482 2.5171,127,743.60 State of Oregon2310 MUN 350,000.0068609BXT9 05/01/2027 1,4913.08003/13/2020 333,903.50 1.302 1.320373,910.95 State of Oregon2378 MUN 355,000.0068609TVS4 06/01/2030 2,6181.67207/02/2020 293,940.00 1.433 1.452360,173.59 State of Oregon2542 MUN 870,000.0068608KA24 08/01/2030 2,6795.33207/01/2021 912,595.20 1.943 1.9701,065,447.85 State of Oregon2549 MUN 1,225,000.0068609TU30 08/01/2028 1,9491.48407/08/2021 1,062,160.75 1.134 1.1501,245,893.31 State of Oregon2584 MUN 265,000.0068609TT81 08/01/2025 8530.80309/24/2021 244,417.45 0.690 0.700265,625.91 State of Oregon2624 MUN 250,000.0068609TZT8 08/01/2026 1,2180.98411/19/2021 225,065.00 1.292 1.310247,372.34 State of Oregon2627 MUN 900,000.0068609T3M8 11/01/2031 3,1362.03711/26/2021 741,618.00 2.020 2.048899,159.87 State of Oregon2679 MUN 1,000,000.0068607LXQ5 06/01/2027 1,5225.89204/01/2022 1,045,210.00 3.259 3.3041,098,330.65 Oxnard Union High School Distr2859 MUN 500,000.00692039QX1 08/01/2027 1,5831.51203/23/2023 441,800.00 4.458 4.520441,425.38 City of Pacifica2138 MUN 1,015,000.0069511AAS3 06/01/2025 7922.56310/23/2019 967,904.00 2.469 2.5031,016,196.57 City of Pacifica2139 MUN 580,000.0069511AAT1 06/01/2026 1,1572.66310/23/2019 545,501.60 2.611 2.647580,250.24 Pasadena CA Public Finance Aut1985 MUN 665,000.00702274CP4 12/01/2023 2443.43812/06/2018 658,895.30 3.205 3.250665,762.88 Pasadena CA Public Finance Aut2573 MUN 120,000.0070227RBM1 05/01/2026 1,1261.98409/09/2021 110,880.00 0.903 0.915123,862.96 Pasadena CA Public Finance Aut2615 MUN 550,000.00702274CS8 12/01/2026 1,3403.50012/01/2021 531,041.50 1.380 1.400590,760.87 Palo Alto Unified School Dist.2838 MUN 1,500,000.00697379TV7 07/01/2027 1,5525.86202/17/2023 1,585,729.20 4.698 4.7641,562,419.92 Palo Alto Unified School Dist.2839 MUN 1,500,000.00697379TV7 07/01/2027 1,5525.86202/21/2023 1,585,729.20 4.683 4.7481,563,339.08 Palo Alto Unified School Dist.2841 MUN 1,480,000.00697379TV7 07/01/2027 1,5525.86203/06/2023 1,564,586.14 4.941 5.0101,527,530.56 Polomar Community Clge Distri2582 MUN 1,000,000.00697511FU2 08/01/2026 1,2181.03110/13/2021 898,240.00 1.016 1.0311,000,000.00 Polomar Community Clge Distri2676 MUN 335,000.00697511FD0 08/01/2026 1,2181.19903/15/2022 302,632.30 2.288 2.320323,159.37 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
27 Packet Pg. 571 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 17
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Redondo Beach Unified School D2388 MUN 750,000.00757710UE6 08/01/2030 2,6791.66008/06/2020 611,040.00 1.439 1.459760,266.26 Redondo Beach Unified School D2763 MUN 715,000.00757710UE6 08/01/2030 2,6791.66012/14/2022 582,524.80 4.783 4.850576,566.84 City of Redondo Beach2724 MUN 725,000.00757696AX7 05/01/2031 2,9522.19111/07/2022 606,643.75 5.917 6.000552,033.66 State of Rhode Island2192 MUN 260,000.0076222RYN6 01/15/2025 6552.00012/20/2019 247,821.60 2.231 2.262259,800.91 State of Rhode Island2219 MUN 1,500,000.0076222RXB3 04/01/2028 1,8273.25001/27/2020 1,416,315.00 2.077 2.1061,578,377.04 State of Rhode Island2239 MUN 550,000.0076222RXB3 04/01/2028 1,8273.25002/06/2020 519,315.50 1.990 2.018581,076.22 Riverside Cmnty College Distt.2596 MUN 1,365,000.0076886PJP9 08/01/2026 1,2181.12410/04/2021 1,220,187.15 1.006 1.0201,369,601.87 Riverside Cmnty College Distt.2733 MUN 560,000.0076886PJS3 08/01/2029 2,3141.78511/17/2022 473,502.40 5.022 5.092461,669.47 Rancho Santiago Comm College D2522 MUN 450,000.00752147HH4 09/01/2024 5190.63403/29/2021 424,422.00 0.625 0.633450,000.00 Rancho Santiago Comm College D2805 MUN 635,000.00752147HK7 09/01/2026 1,2490.95601/19/2023 563,759.35 4.164 4.222569,912.50 Redwood City School District2130 MUN 1,000,000.00757889EH9 08/01/2027 1,5832.28410/16/2019 916,730.00 2.252 2.2841,000,000.00 Redwood City School District2253 MUN 1,095,000.00757889EG1 08/01/2026 1,2182.15902/13/2020 1,018,196.70 1.727 1.7511,109,014.87 City of Santa Ana2603 MUN 175,000.00801139AE6 08/01/2026 1,2181.17610/18/2021 154,971.25 1.223 1.240174,638.02 City of Santa Ana2747 MUN 1,250,000.00801139AF3 08/01/2027 1,5831.46512/02/2022 1,083,562.50 5.178 5.2501,070,167.96 Santa Barbara Unified School D2385 MUN 490,000.00801315KU5 08/01/2029 2,3141.65307/21/2020 415,652.30 1.483 1.504494,293.49 San Bernardino Cmty College Di2166 MUN 1,500,000.00796720NC0 08/01/2028 1,9492.59012/12/2019 1,384,185.00 2.554 2.5901,500,000.00 San Bernardino Cmty College Di2365 MUN 2,000,000.00796720NV8 08/01/2029 2,3141.84807/07/2020 1,731,720.00 1.822 1.8482,000,000.00 San Bernardino Cmty College Di2723 MUN 500,000.00796720NF3 08/01/2031 3,0442.84011/04/2022 445,275.00 5.482 5.558411,224.98 County of Santa Clara1897 MUN 1,340,000.00801546PH9 08/01/2023 1222.50001/11/2018 1,329,266.60 2.436 2.4701,340,123.82 County of Santa Clara1899 MUN 1,460,000.00801546PJ5 08/01/2024 4882.68001/12/2018 1,424,916.20 2.643 2.6801,460,000.00 Santa Clarita Community Colleg2557 MUN 1,250,000.00801686TF3 08/01/2026 1,2181.14608/02/2021 1,125,400.00 0.742 0.7521,266,158.98 Santa Clara Vly Transportation2750 MUN 455,000.0080168NHY8 04/01/2030 2,5571.62212/05/2022 372,381.10 5.030 5.100363,502.54 Santa Clara Valley Water Dist.2181 MUN 1,555,000.0080168ACV7 06/01/2028 1,8882.43412/12/2019 1,424,722.10 2.416 2.4501,553,833.21 Santa Clara Valley Water Dist.2793 MUN 1,000,000.0080168FPC4 06/01/2030 2,6181.63401/12/2023 831,980.00 4.418 4.480827,948.25 Santa Cruz County Capital Fin.1906 MUN 465,000.0080181PCT2 06/01/2024 4272.50001/25/2018 452,096.25 2.968 3.010462,496.81 Santa Cruz County Capital Fin.1907 MUN 465,000.0080181PCU9 06/01/2025 7922.75001/25/2018 445,181.70 3.008 3.050462,306.48 Santa Cruz County Capital Fin.1908 MUN 470,000.0080181PCV7 06/01/2026 1,1573.00001/25/2018 446,641.00 3.107 3.150468,044.67 Santa Cruz County Capital Fin.1909 MUN 280,000.0080181PCW5 06/01/2027 1,5223.00001/25/2018 262,539.20 3.205 3.250277,498.22 Santa Cruz MET Transit Dist.2671 MUN 1,000,000.00801747AF3 08/01/2027 1,5832.47003/03/2022 923,970.00 2.030 2.0581,016,785.22 San Diego Unified Sch District2602 MUN 1,000,000.00797356DL3 07/01/2031 3,0131.98410/21/2021 825,350.00 1.824 1.8501,010,067.36 San Diego Unified Sch District2606 MUN 900,000.00797356DL3 07/01/2031 3,0131.98410/23/2021 742,815.00 2.024 2.053895,401.95 San Diego Unified Sch District2617 MUN 270,000.00797356DH2 07/01/2028 1,9181.59911/17/2021 234,179.10 1.712 1.736268,169.86 San Diego Unified Sch District2693 MUN 260,000.00797356DF6 07/01/2026 1,1871.20109/23/2022 235,453.40 4.053 4.110237,438.13 San Diego Unified Sch District2767 MUN 1,000,000.00797356DH2 07/01/2028 1,9181.59912/16/2022 867,330.00 4.241 4.300875,004.21 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
28 Packet Pg. 572 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 18
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
San Diego Community College Di2550 MUN 255,000.00797272QS3 08/01/2027 1,5832.40707/09/2021 236,568.60 1.007 1.021269,812.67 San Diego Community College Di2639 MUN 1,980,000.00797272RN3 08/01/2026 1,2181.44512/28/2021 1,805,918.40 1.193 1.2101,995,035.06 San Diego Community College Di2651 MUN 500,000.00797272RT0 08/01/2031 3,0442.11301/10/2022 420,825.00 2.120 2.150498,609.42 San Diego Regl Trans Commissio2632 MUN 200,000.00797400MR6 04/01/2026 1,0961.03612/08/2021 181,226.00 1.292 1.310198,405.06 San Diego Cnty Wtr Authority2580 MUN 875,000.00797412DN0 05/01/2026 1,1260.97109/17/2021 790,650.00 0.887 0.900876,867.79 San Diego Cnty Wtr Authority2600 MUN 210,000.00797412DM2 05/01/2025 7610.74310/08/2021 194,850.60 0.838 0.850209,539.65 San Diego Cnty Wtr Authority2604 MUN 250,000.00797412DN0 05/01/2026 1,1260.97110/20/2021 225,900.00 1.134 1.150248,657.59 San Diego Cnty Wtr Authority2623 MUN 750,000.00797412DN0 05/01/2026 1,1260.97111/19/2021 677,700.00 1.282 1.300742,625.98 San Diego Cnty Wtr Authority2688 MUN 1,275,000.00797412DQ3 05/01/2028 1,8571.33109/12/2022 1,095,594.75 3.945 4.0001,121,470.08 San Diego Cnty Wtr Authority2716 MUN 225,000.00797412DR1 05/01/2029 2,2221.43110/24/2022 188,606.25 5.079 5.150182,220.82 San Diego Cnty Wtr Authority2722 MUN 320,000.00797412DS9 05/01/2030 2,5871.53111/03/2022 262,425.60 5.207 5.280250,564.39 City of San Diego Water Fin. A2788 MUN 505,000.0079730CJQ8 08/01/2031 3,0442.28301/06/2023 426,447.25 4.835 4.902415,867.91 San Dieguito Union High Sch Di2536 MUN 430,000.00797508JW9 08/01/2026 1,2181.07406/09/2021 388,049.20 1.059 1.074430,000.00 San Dieguito Union High Sch Di2537 MUN 435,000.00797508JX7 08/01/2027 1,5831.37206/09/2021 386,423.55 1.353 1.372435,000.00 San Dieguito Union High Sch Di2674 MUN 435,000.00797508HF8 08/01/2026 1,2181.86003/11/2022 403,053.60 2.070 2.099431,702.81 Sequoia Union High School Dist2320 MUN 400,000.00817409N35 07/01/2025 8221.73503/18/2020 319,136.00 1.381 1.400402,894.38 Sequoia Union High School Dist2531 MUN 250,000.00817409N76 07/01/2029 2,2832.10304/30/2021 219,292.50 1.658 1.681256,120.37 City & County of San Francisco1509 MUN 1,000,000.00797646NC6 06/15/2025 8065.45011/27/2015 1,018,650.00 3.067 3.1101,044,351.30 City & County of San Francisco1711 MUN 2,105,000.00797646T48 06/15/2025 8062.29011/01/2016 2,000,655.15 2.219 2.2492,106,669.22 City & County of San Francisco1712 MUN 245,000.00797646T55 06/15/2026 1,1712.39011/01/2016 230,231.40 2.376 2.410244,858.80 City & County of San Francisco1839 MUN 230,000.00797646T48 06/15/2025 8062.29007/14/2017 218,598.90 2.682 2.720228,048.25 City & County of San Francisco2014 MUN 1,420,000.00797646ND4 06/15/2026 1,1715.60001/16/2019 1,469,856.20 3.304 3.3501,510,001.54 City & County of San Francisco2148 MUN 1,120,000.007976466C5 06/15/2029 2,2672.10010/31/2019 990,382.40 2.337 2.3691,103,292.98 City & County of San Francisco2762 MUN 575,000.007976466F8 06/15/2032 3,3632.35012/14/2022 488,692.50 4.744 4.810471,461.96 San Francisco Cmnty Facs Dist1937 MUN 680,000.0079772EBC2 09/01/2027 1,6143.25003/02/2018 640,573.60 3.451 3.499673,674.24 San Francisco Cmnty Facs Dist2132 MUN 350,000.0079772ECL1 09/01/2029 2,3453.64810/11/2019 328,303.50 2.398 2.431374,145.45 San Francisco Cmnty Facs Dist2309 MUN 130,000.0079772ECJ6 09/01/2027 1,6143.46803/13/2020 123,579.30 1.577 1.599140,073.36 San Francisco Cmnty Facs Dist2571 MUN 300,000.0079772ECF4 09/01/2024 5193.10808/30/2021 292,332.00 0.741 0.752309,909.21 San Francisco Cmnty Facs Dist2608 MUN 575,000.0079772EDY2 09/01/2031 3,0752.59111/03/2021 486,116.50 2.305 2.337585,922.08 San Francisco Cmnty Facs Dist2628 MUN 1,295,000.0079772EDA4 09/01/2026 1,2492.23611/29/2021 1,193,782.80 1.425 1.4451,328,680.68 SF Bay Area Rapid Transit Dist2029 MUN 200,000.00797669XW3 07/01/2023 912.62102/25/2019 198,678.00 2.672 2.710199,958.05 SF Bay Area Rapid Transit Dist2572 MUN 500,000.00797669ZJ0 07/01/2024 4571.97109/08/2021 483,245.00 0.419 0.425509,605.01 SF Bay Area Rapid Transit Dist2636 MUN 480,000.00797669ZR2 07/01/2031 3,0132.76812/16/2021 420,393.60 1.846 1.872512,349.45 SF Bay Area Rapid Transit Dist2638 MUN 600,000.00797669XW3 07/01/2023 912.62112/20/2021 596,034.00 0.572 0.580603,043.01 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
29 Packet Pg. 573 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 19
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
SF Bay Area Rapid Transit Dist2766 MUN 405,000.00797669ZR2 07/01/2031 3,0132.76812/15/2022 354,707.10 4.832 4.899347,346.39 Sierra Joint Com. College Dist2501 MUN 585,000.00826239GD1 08/01/2029 2,3141.44503/09/2021 486,421.65 1.425 1.445585,000.00 Sierra Joint Com. College Dist2535 MUN 500,000.00826239GD1 08/01/2029 2,3141.44505/27/2021 415,745.00 1.461 1.481498,915.76 Silicon Valley Clean Water2828 MUN 245,000.0082707BDP1 08/01/2027 1,5831.38002/10/2023 215,845.00 4.301 4.361216,530.73 San Juan Unified School Dist2707 MUN 545,000.00798306WQ5 08/01/2026 1,2181.20110/17/2022 487,682.35 4.586 4.650488,144.19 City of San Jose2656 MUN 350,000.00798135E96 09/01/2026 1,2492.50001/28/2022 329,812.00 1.686 1.710359,044.93 San Jose Financing Authority2622 MUN 345,000.00798153NF5 06/01/2026 1,1571.31111/18/2021 310,475.85 1.459 1.480343,220.15 San Jose Evergreen Cmnty Colll1966 MUN 315,000.00798189PK6 09/01/2027 1,6143.72810/29/2018 306,983.25 3.676 3.727315,000.00 San Jose Evergreen Cmnty Colll2105 MUN 500,000.00798189QA7 08/01/2028 1,9492.35010/01/2019 451,050.00 2.317 2.350500,000.00 San Jose Unified School Dist.1435 MUN 580,000.00798186C83 08/01/2023 1222.50001/29/2015 575,539.80 2.663 2.700579,656.55 San Jose Unified School Dist.2518 MUN 1,000,000.00798186N81 08/01/2025 8530.55803/15/2021 917,390.00 0.739 0.750995,597.46 San Jose Unified School Dist.2700 MUN 990,000.00798186P30 08/01/2028 1,9491.22410/07/2022 836,926.20 4.487 4.550837,200.73 San Jose Unified School Dist.2774 MUN 850,000.00798186P22 08/01/2027 1,5831.01412/21/2022 736,423.00 4.341 4.401738,168.67 Santa Maria JT Union High Sch2706 MUN 455,000.00802309NY6 08/01/2026 1,2181.50810/17/2022 412,448.40 4.586 4.650411,756.32 Santa Monica Cmnty College Dis2091 MUN 315,000.00802385RC0 08/01/2028 1,9493.47209/05/2019 302,494.50 1.972 2.000337,547.00 Santa Monica Cmnty College Dis2481 MUN 570,000.00802385RV8 08/01/2030 2,6791.69601/22/2021 474,490.80 1.499 1.520576,827.29 Santa Monica Cmnty College Dis2482 MUN 600,000.00802385RT3 08/01/2028 1,9491.49601/22/2021 520,320.00 1.085 1.100612,136.57 Santa Monica Cmnty College Dis2810 MUN 850,000.00802385RS5 08/01/2027 1,5831.24401/23/2023 749,275.00 3.965 4.020757,342.90 Santa Monica-Malibu USD2561 MUN 650,000.00802498VW2 07/01/2026 1,1870.98908/12/2021 586,527.50 0.877 0.890652,040.68 Santa Monica-Malibu USD2637 MUN 215,000.00802498ZA6 08/01/2026 1,2180.84912/20/2021 192,538.95 1.193 1.210212,489.90 Santa Monica-Malibu USD2752 MUN 865,000.00802498WA9 07/01/2030 2,6481.51012/07/2022 711,004.05 4.862 4.930687,769.50 Santa Monica-Malibu USD2792 MUN 825,000.00802498ZF5 08/01/2031 3,0441.62401/09/2023 664,991.25 4.694 4.760649,597.83 San Mateo Cnty Comm. College D2521 MUN 2,000,000.00799038NP5 09/01/2024 5190.50004/14/2021 1,892,760.00 0.444 0.4502,001,399.67 San Mateo Cnty Comm. College D2523 MUN 1,500,000.00799038NP5 09/01/2024 5190.50004/14/2021 1,419,570.00 0.444 0.4501,501,049.75 San Mateo Foster City SCH Dist1902 MUN 1,000,000.00799017UW6 09/01/2025 8842.69901/16/2018 963,790.00 2.786 2.825997,271.15 San Mateo Foster City SCH Dist1940 MUN 1,000,000.00799017UW6 09/01/2025 8842.69903/09/2018 963,790.00 2.959 3.000993,523.48 San Mateo Foster City SCH Dist2153 MUN 1,360,000.00799017WD6 09/01/2028 1,9802.23711/07/2019 1,214,779.20 2.447 2.4801,343,948.54 San Mateo Foster City SCH Dist2178 MUN 1,565,000.00799017VM7 09/01/2028 1,9802.54212/11/2019 1,420,581.80 2.311 2.3431,580,093.53 San Mateo Foster City SCH Dist2567 MUN 500,000.00799017XW3 09/01/2026 1,2490.92509/21/2021 447,495.00 0.912 0.925500,000.00 San Mateo Foster City SCH Dist2585 MUN 175,000.00799055QV3 08/01/2026 1,2181.79909/27/2021 162,232.00 0.897 0.910180,060.95 San Mateo Foster City SCH Dist2591 MUN 1,260,000.00799055ME5 08/01/2026 1,2186.00009/29/2021 1,308,623.40 2.297 2.3291,404,950.63 San Mateo Foster City SCH Dist2782 MUN 425,000.00799017WE4 09/01/2029 2,3452.33712/22/2022 372,763.25 4.685 4.750369,171.88 Solano Cnty Community Clg Dist2176 MUN 1,150,000.0083412PFQ0 08/01/2028 1,9492.71712/09/2019 1,058,264.50 2.462 2.4961,162,082.98 Solano Cnty Community Clg Dist2579 MUN 750,000.0083412PHQ8 08/01/2026 1,2181.02510/06/2021 674,190.00 1.011 1.025750,000.00 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
30 Packet Pg. 574 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 20
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Solano Cnty Community Clg Dist2583 MUN 200,000.0083412PGZ9 08/01/2026 1,2181.02510/06/2021 179,784.00 0.887 0.900200,811.99 Solano Cnty Community Clg Dist2594 MUN 390,000.0083412PHE5 08/01/2031 3,0441.86110/06/2021 316,430.40 1.948 1.975386,624.05 Solano Cnty Community Clg Dist2597 MUN 750,000.0083412PHU9 08/01/2030 2,6791.76110/06/2021 620,662.50 1.834 1.860744,992.31 Solano Cnty Community Clg Dist2598 MUN 825,000.0083412PHW5 08/01/2031 3,0441.86110/06/2021 669,372.00 1.879 1.905822,233.04 Solano Cnty Community Clg Dist2649 MUN 350,000.0083412PHB1 08/01/2028 1,9491.47901/07/2022 301,724.50 1.775 1.800344,368.73 Solano Cnty Community Clg Dist2702 MUN 315,000.0083412PFT4 08/01/2031 3,0442.86710/11/2022 277,272.45 5.079 5.150267,287.93 Sonoma Cnty Jr. College Distr.2577 MUN 155,000.00835569GT5 08/01/2026 1,2182.44709/15/2021 145,492.30 0.843 0.855163,038.46 South Pasadena Unified School1914 MUN 180,000.00839278JM1 08/01/2027 1,5833.00002/15/2018 170,371.80 3.057 3.100179,326.84 South Pasadena Unified School2161 MUN 370,000.00839278KC1 08/01/2029 2,3145.00012/12/2019 381,510.70 2.598 2.634418,675.40 South Pasadena Unified School2162 MUN 250,000.00839278KB3 08/01/2028 1,9495.00012/12/2019 257,087.50 2.549 2.584278,701.19 South Pasadena Unified School2163 MUN 145,000.00839278KA5 08/01/2027 1,5835.00012/12/2019 148,556.85 2.500 2.534159,004.82 South Pasadena Unified School2164 MUN 390,000.00839278JZ2 08/01/2026 1,2185.00012/12/2019 397,129.20 2.378 2.411420,924.44 San Rafael City High Sch Distr2150 MUN 1,755,000.00799289MR1 08/01/2024 4881.96511/13/2019 1,693,557.45 1.938 1.9651,755,000.00 San Ramon Vly Unif Sch Dist.2605 MUN 1,500,000.007994082K4 08/01/2030 2,6791.91411/03/2021 1,256,310.00 1.805 1.8301,508,478.53 San Ramon Vly Unif Sch Dist.2813 MUN 935,000.00799408Z93 08/01/2026 1,2181.03401/26/2023 843,987.10 4.044 4.100846,836.52 Sunnyvale Elementary Sch Distr2100 MUN 135,000.00867578UT1 09/01/2028 1,9802.19009/19/2019 120,783.15 2.157 2.187135,000.00 Sunnyvale Elementary Sch Distr2101 MUN 135,000.00867578US3 09/01/2027 1,6142.09009/19/2019 122,769.00 2.061 2.090135,000.00 Tracy Unified School District2493 MUN 500,000.00892404CN2 08/01/2029 2,3141.64402/08/2021 425,985.00 1.437 1.457505,541.30 Temecula Valley Unified School2539 MUN 250,000.0087970GPS0 08/01/2028 1,9491.50306/16/2021 214,912.50 1.482 1.503250,000.00 Temecula Valley Unified School2569 MUN 355,000.0087970GPQ4 08/01/2026 1,2181.05108/27/2021 317,561.70 0.887 0.900356,743.38 State of Tennessee1673 MUN 1,000,000.00880541XY8 08/01/2026 1,2182.11608/25/2016 935,380.00 1.923 1.9501,005,003.36 State of Tennessee1674 MUN 1,650,000.00880541XX0 08/01/2025 8532.06608/25/2016 1,568,094.00 1.893 1.9201,655,141.53 State of Tennessee1676 MUN 700,000.00880541XX0 08/01/2025 8532.06608/25/2016 665,252.00 1.893 1.920702,181.25 State of Tennessee2001 MUN 205,000.00880541QU4 08/01/2024 4883.72812/20/2018 202,712.20 2.860 2.900207,073.17 City of Torrance JT PWRS Fin A2795 MUN 445,000.00891371BB1 06/01/2032 3,3492.63701/12/2023 361,802.80 5.001 5.070366,772.71 Tustin Unif Sch Dist Facs Impt2715 MUN 650,000.00901072LD8 08/01/2027 1,5831.14510/24/2022 561,112.50 4.783 4.850557,806.91 Tustin Unif Sch Dist Facs Impt2720 MUN 295,000.00901072MB1 08/01/2031 3,0441.75410/31/2022 230,684.10 5.543 5.620220,721.81 Tustin Unif Sch Dist Facs Impt2758 MUN 205,000.00901072MB1 08/01/2031 3,0441.75412/09/2022 160,305.90 4.843 4.910161,481.64 Tustin Unif Sch Dist Facs Impt2814 MUN 500,000.00901072LX4 08/01/2027 1,5831.14501/26/2023 431,625.00 4.098 4.155441,084.80 State of Texas2195 MUN 1,500,000.008827237P8 10/01/2025 9143.05112/23/2019 1,453,035.00 1.975 2.0031,536,913.86 State of Texas2225 MUN 940,000.008827237T0 10/01/2029 2,3753.52101/30/2020 895,650.80 2.191 2.2211,011,087.33 State of Texas2255 MUN 1,265,000.008827237T0 10/01/2029 2,3753.52102/14/2020 1,205,317.30 2.192 2.2221,360,624.81 State of Texas2311 MUN 250,000.008827237N3 10/01/2024 5492.89903/16/2020 243,830.00 1.231 1.248255,999.45 State of Texas2541 MUN 245,000.008827235K1 10/01/2025 9142.92206/30/2021 236,591.60 0.641 0.650258,702.40 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
31 Packet Pg. 575 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 21
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
State of Texas2548 MUN 1,000,000.00882724RF6 10/01/2030 2,7402.42607/02/2021 879,120.00 1.480 1.5011,064,535.60 State of Texas2631 MUN 500,000.00882723A90 10/01/2025 9142.83112/07/2021 481,775.00 1.030 1.045521,825.33 University of California2077 MUN 1,500,000.0091412GQG3 05/15/2025 7753.05008/26/2019 1,462,875.00 1.930 1.9571,532,732.52 University of California2095 MUN 1,000,000.0091412GQG3 05/15/2025 7753.05009/09/2019 975,250.00 1.797 1.8211,024,645.16 University of California2685 MUN 440,000.0091412HGF4 05/15/2027 1,5051.31604/05/2022 391,595.60 3.028 3.070410,758.75 State of Utah1731 MUN 285,000.00917542QR6 07/01/2024 4574.55401/04/2017 284,156.40 2.904 2.944290,110.50 State of Utah2306 MUN 1,101,100.00917542QV7 07/01/2025 8223.53903/13/2020 1,088,822.74 1.948 1.9751,137,696.51 Vacaville Unified School Distr2726 MUN 250,000.00918608UR9 08/01/2030 2,6791.73911/10/2022 206,482.50 5.513 5.590193,288.89 State of Washington1802 MUN 485,000.0093974CRC6 08/01/2024 4884.66905/23/2017 486,217.35 2.416 2.450498,080.16 State of Washington2196 MUN 500,000.0093974CRC6 08/01/2024 4884.66912/24/2019 501,255.00 1.978 2.005516,878.21 State of Wisconsin2547 MUN 2,000,000.0097705MNU5 05/01/2031 2,9522.45107/02/2021 1,739,400.00 1.553 1.5752,130,707.43 State of Wisconsin2574 MUN 1,500,000.0097705MNP6 05/01/2026 1,1262.08909/09/2021 1,406,130.00 0.739 0.7501,560,744.62 State of Wisconsin2576 MUN 1,000,000.0097705MNP6 05/01/2026 1,1262.08909/13/2021 937,420.00 0.769 0.7801,039,555.40 State of Wisconsin 22822 MUN 1,000,000.00977100AC0 05/01/2026 1,1265.70001/30/2023 1,023,420.00 5.039 5.1091,016,512.55 Yosemite Community College Dis2657 MUN 1,000,000.00987388GX7 08/01/2027 1,5832.08202/17/2022 908,340.00 2.053 2.0821,000,000.00 Yosemite Community College Dis2687 MUN 500,000.00987388GX7 08/01/2027 1,5832.08209/02/2022 454,170.00 3.846 3.900464,461.28 Subtotal and Average 235,335,812.28 237,201,100.00 219,703,284.38 2.465 2.499 1,517 Supranationals (World Bank) Bonds
Inter-American Dev. Bank2528 IADB 2,000,000.004581X0DV7 04/20/2026 1,1150.87504/20/2021 1,826,980.00 0.910 0.9231,997,130.39 Inter-American Dev. Bank2586 IADB 2,000,000.0045818WDH6 06/17/2026 1,1730.80009/27/2021 1,811,960.00 0.914 0.9271,992,023.97 Inter-American Dev. Bank2652 IADB 1,000,000.004581X0EB0 01/13/2027 1,3831.50001/13/2022 917,500.00 1.504 1.525999,076.87 Inter-American Dev. Bank2655 IADB 1,000,000.004581X0EB0 01/13/2027 1,3831.50001/14/2022 917,500.00 1.518 1.540998,546.39 Intl Bk Recon & Development1982 IBRD 1,000,000.00459058GL1 09/27/2023 1793.00011/27/2018 991,170.00 3.018 3.060999,726.69 Intl Bk Recon & Development2470 IBRD 1,500,000.00459058JL8 10/28/2025 9410.50001/08/2021 1,374,540.00 0.480 0.4871,500,480.65 Intl Bk Recon & Development2492 IBRD 1,500,000.00459058JS3 02/10/2026 1,0460.65002/10/2021 1,350,705.00 0.641 0.6501,500,000.00 Intl Bk Recon & Development2497 IBRD 1,500,000.0045905U5Y6 02/18/2026 1,0540.60002/18/2021 1,274,385.00 0.591 0.6001,500,000.00 Intl Bk Recon & Development2498 IBRD 1,500,000.00459058JL8 10/28/2025 9410.50002/18/2021 1,374,540.00 0.591 0.6001,496,196.28 Intl Bk Recon & Development2510 IBRD 1,500,000.00459058JL8 10/28/2025 9410.50003/01/2021 1,374,540.00 0.787 0.7981,488,715.14 Intl Bk Recon & Development2534 IBRD 1,500,000.00459058JS3 02/10/2026 1,0460.65005/26/2021 1,350,705.00 0.833 0.8451,491,818.72 Intl Bk Recon & Development2553 IBRD 1,500,000.00459058JS3 02/10/2026 1,0460.65007/15/2021 1,350,705.00 0.839 0.8511,491,555.32 Intl Bk Recon & Development2559 IBRD 1,500,000.00459058JS3 02/10/2026 1,0460.65008/12/2021 1,350,705.00 0.871 0.8831,490,219.09 Intl Bk Recon & Development2650 IBRD 1,000,000.0045906M2L4 02/24/2026 1,0600.65001/07/2022 907,790.00 1.368 1.387979,308.34 Intl Bk Recon & Development2673 IBRD 1,000,000.0045906M2Z3 03/17/2025 7162.05003/17/2022 958,740.00 2.107 2.136998,365.74 Intl Bk Recon & Development2735 IBRD 2,000,000.0045906M3K5 09/30/2027 1,6434.50011/22/2022 2,003,700.00 4.684 4.7491,980,086.67 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
32 Packet Pg. 576 of 645

March 31, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 22
CUSIP Investment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Supranationals (World Bank) Bonds
Intl Bk Recon & Development2736 IBRD 1,000,000.0045906M2L4 02/24/2026 1,0600.65011/23/2022 907,790.00 4.480 4.542896,234.42 Intl Bk Recon & Development2744 IBRD 1,500,000.0045906M3K5 09/30/2027 1,6434.50012/01/2022 1,502,775.00 4.681 4.7461,485,197.18 Intl Bk Recon & Development2775 IBRD 1,000,000.00459058JN4 11/24/2027 1,6980.75012/21/2022 873,500.00 3.807 3.860869,513.55 Intl Bk Recon & Development2779 IBRD 1,500,000.00459058JT1 02/10/2027 1,4110.85012/22/2022 1,333,740.00 4.241 4.3001,318,829.31 Intl Bk Recon & Development2826 IBRD 1,500,000.00459058JT1 02/10/2027 1,4110.85002/10/2023 1,333,740.00 4.310 4.3701,314,930.22 International Finance Corp.2441 IFC 1,000,000.0045950VPE0 10/15/2025 9280.35010/30/2020 874,180.00 0.306 0.3101,000,000.00 International Finance Corp.2454 IFC 1,500,000.0045950VPH3 11/15/2025 9590.25011/30/2020 1,385,025.00 0.683 0.6921,500,000.00 International Finance Corp.2483 IFC 1,500,000.0045950VPJ9 01/15/2026 1,0200.58001/25/2021 1,360,440.00 0.501 0.5081,502,944.69 International Finance Corp.2502 IFC 1,500,000.0045950VPJ9 01/15/2026 1,0200.58002/11/2021 1,360,440.00 0.522 0.5301,502,054.41 International Finance Corp.2503 IFC 1,500,000.0045950VPS9 02/26/2026 1,0620.50002/26/2021 1,354,620.00 0.616 0.6251,494,649.68 International Finance Corp.2514 IFC 2,000,000.0045950VPT7 03/15/2026 1,0790.50003/15/2021 1,778,420.00 0.808 0.8192,000,000.00 International Finance Corp.2515 IFC 1,500,000.0045950VPU4 03/23/2026 1,0870.75003/23/2021 1,363,095.00 0.746 0.7571,499,678.40 International Finance Corp.2517 IFC 2,000,000.0045950VPU4 03/23/2026 1,0870.75003/23/2021 1,817,460.00 0.887 0.9001,991,269.16 International Finance Corp.2532 IFC 1,500,000.0045950VPY6 05/15/2026 1,1400.50005/28/2021 1,380,480.00 1.006 1.0201,500,000.00 International Finance Corp.2654 IFC 1,000,000.0045950KCX6 10/08/2026 1,2860.75001/12/2022 899,810.00 1.518 1.540973,281.35 Subtotal and Average 43,751,832.63 44,500,000.00 40,661,680.00 1.546 1.568 1,121 Total Investments and Average 597,235,588.58 599,565,536.14 535,130,981.87 2.148 2.178 1,386 Portfolio CPA
AP
Run Date: 04/25/2023 - 23:17 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Item 9
Attachment B - Investment Portfolio

Item 9: Staff Report
Pg.
33 Packet Pg. 577 of 645

1 General Investment Guidelines: Full Compliance
a) The max. stated final maturity of individual securities in the portfolio should be 10 years. b) A max. of 30 percent of the par value of the portfolio shall be invested in securities with maturities 29.6% beyond 5 years.
c) The City shall maintain a minimum of one month's cash needs in short term investments. d) At least
$50 million shall be maintained in securities maturing in less than 2 years.

Plus two managed pool accounts which provide instant liquidity:
- Local Agency Investment Fund (LAIF) - maximum investment limit is $75 million $17.4 million - Fidelity Investments $17.1 million
e) Should market value of the portfolio fall below 95 percent of the book value, report this fact within a 89.6% reasonable time to the City Council and evaluate if there are risk of holding securities to maturity. d) Commitments to purchase securities newly introduced on the market shall be made no more than three (3) working days before pricing.
f) Whenever possible, the City will obtain three or more quotations on the purchase or sale of comparable securities (excludes new issues, LAIF, City of Palo Alto bonds, money market accounts, and mutual funds).
2 U.S. Government Securities:

Full Compliance
a) There is no limit on purchase of these securities.
b) Securities will not exceed 10 years maturity.
3 U.S. Government Agency Securities: Full Compliance
a) There is no limit on purchase of these securities except for:

Callable and Multi-step-up securities provided that:
- The potential call dates are known at the time of purchase; - the interest rates at which they "step-up" are known at the time of purchase; and - the entire face value of the security is redeemed at the call date. - No more than 25 percent
of the par value of portfolio. 24.70%
b) Securities will not exceed 10 years maturity.
4 California State, California Local Government Agencies, and other United States State Bonds: Full Compliance a) Having at time of investment a minimum Double A (AA/Aa2) rating as provided by a nationally recognized rating service (e.g., Moody’s, Fitch, and/or Standard and Poor’s). b) May not exceed 40 percent of the par value of the portfolio. 39.28% 5 Certificates of Deposit (CD): Full Compliance
a) May not exceed 20 percent of the par value of the portfolio; None Held b) No more than 10 percent of the par value of the portfolio in collateralized CDs in any institution. c) Purchase collateralized deposits only from federally insured large banks that are rated by a nationally recognized rating agency (e.g. Moody's, Fitch, and/or Standard & Poor's). d) For non-rated banks, deposit should be limited to amounts federally insured (FDIC) e) Rollovers are not permitted without specific instruction from authorized City staff. 6 Banker's Acceptance Notes (BA):

Full Compliance
a) No more than 30 percent of the par value of the portfolio. None Held b) Not to exceed 180 days maturity.
c) No more than $5 million with any one institution.
$96.4 million

1.17%
Attachment C
Investment Policy Compliance
As of March 31, 2023
Investment Policy Requirements
Compliance
Check / Actual
Item 9
Attachment C -
Investment Policy
Compliance

Item 9: Staff Report
Pg.
34 Packet Pg. 578 of 645

Attachment C
Investment Policy Compliance
As of March 31, 2023
Investment Policy Requirements
Compliance
Check / Actual
7 Commercial Paper: Full Compliance
a) No more than 15 percent of the par value of the portfolio. None Held b) Having highest letter or numerical rating from a nationally recognized rating service. c) Not to exceed 270 days maturity.
d) No more than $3 million or 10 percent
of the outstanding commercial paper of any one institution, whichever is lesser.
8 Short-Term Repurchase Agreement (REPO): Full Compliance a) Not to exceed 1 year. None Held
b) Market value of securities that underlay a repurchase agreement shall be valued at 102 percent or greater of the funds borrowed against those securities. 9 Money Market Deposit Accounts Full Compliance
a) Liquid bank accounts which seek to maintain a net asset value of $1.00. 10 Mutual Funds: Full Compliance
a) No more than 20 percent of the par value of the portfolio. None Held b) No more than 10 percent of the par value with any one institution. 11 Negotiable Certificates of Deposit (NCD): Full Compliance a) No more than 20 percent of the par value of the portfolio. 6.99% b) No more than $5 million in any one institution. Federally Insured 12 Medium-Term Corporate Notes: Full Compliance
a) No more than 10 percent of the par value of the portfolio. 4.99% b) Not to exceed 5 years maturity.
c) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally recognized rating service.
d) No more than $5 million of the par value may be invested in securities of any single issuer, other than the U.S. Government, its agencies and instrumentality. e) If securities owned by the City are downgraded by either rating agencies to a level below AA it shall be the City's policy to review the credit situation and make a determination as to whether to sell or retain such securities.
13 Supranational Organizations Securities:

Full Compliance
a) Securities will not exceed 5 years maturity
b) No more than 20 percent of the par value of the portfolio. 7.42% c) No more than 10 percent in any one institution.
d) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally recognized rating service.
14 Prohibited Investments:
a) Reverse Repurchase Agreements
b) Derivatives as defined in Appendix B of the Investment Policy 15 All securities shall be delivered to the City's safekeeping custodian, and held in the name of the City, with the exception of :
- Certificates of Deposit, Mutual Funds, and Local Agency Investment Fund (LAIF) Full Compliance
None Held
Full Compliance
Item 9
Attachment C -
Investment Policy
Compliance

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City Council
Staff Report
From: Council Appointed Officers (CAO) Committee
Report Type: CONSENT CALENDAR
Lead Department: Human Resources
Meeting Date: May 8, 2023
Report #:2305-1405
TITLE
Approval of CAO Committee Recommendation to complete recruitment for interim City Clerk and to engage Peckham & McKinney Firm to Conduct the City Clerk Executive Recruitment

RECOMMENDATION

1. Approve the CAO Committee recommendation to direct staff to initiate an internal recruitment for interim City Clerk by posting position;

2. Approve the CAO Committee recommendation to direct staff to engage Peckham & McKinney for the recruitment of City Clerk, to begin as soon as executive recruiter is available; and,

3. Direct the City Manager to execute a contract with the executive recruiter firm Peckham & McKinney, up to $30k plus expenses.

EXECUTIVE SUMMARY
The Council Appointed Officers (CAO) Committee met on May 1, 2023 to review, discuss and make a recommendation to Council on the next steps to fill the pending City Clerk vacancy for the interim period as well as to discuss the recruitment to fill the vacancy on permanent basis.

BACKGROUND
City Clerk Lesley Milton provided Council with her resignation notice effective date May 19, 2023. Clerk Milton served as Palo Alto’s City Clerk for nearly 2 years. Ms. Milton’s selection as City Clerk was made after an extensive executive recruitment and competitive process was successfully conducted in 2021 by Bobbi Peckham, of the executive search firm Peckham & McKenney. The brochure for the 2021 recruitment and the Peckham & McKenney 2021 proposal is attached.

DISCUSSION
On May 1, the CAO Committee discussed options to fill the interim position and also discussed the selection process for an executive recruiter to assist in the recruitment for the City Clerk position.

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The CAO Committee motion which passed 3-0 recommended that Council authorize the following:

A. Invite letters of interest and a resume from interested internal applicants to serve as interim positionCity Clerk pending a full recruitment process;, havedirect HR to review candidates for qualifications and schedule a closed session interview of candidates with the full Council
Contract with the recruitment firm Peckham & McKinney who conducted the previous City Clerk recruitment, and direct staff to forward to Council the literature previously used for the 2021 recruitmentbe included in a late packet report on the next meeting agenda
The typical timeline for an executive recruitment is approximately 3 to 4 months, with a recruiter fee in the range of $25k-$30k. In addition, expenses billed to the City include charges for online ads, mailings, and travel (if required) for the recruiter and candidates. Staff contacted Peckham & McKinney and they stated that they appreciated the CAO Committee recommendation however due to the high number of recruitments they are currently working on, they would not be able to start this search for 4 months. They also advised that their fee would be $30k all inclusive.

The contract process can be initiated with Peckham & McKinney in advance of their start date if Council approves to move forward. An alternative option is to assign this recruitment to the executive recruiter, Teri Black & Co., who has a current contract with the City.

ANTICIPATED EXECUTIVE SEARCH PROCESS
The timeline for an executive search depends on the recruitment plan strategy, that may include the following, at Council‘s discretion:
•Profile and Brochure Development: Executive recruiter kicks-off recruitment and selection process and timeline.
•Outreach and Marketing: campaign is developed and implemented, including the placement of advertisement efforts and direct marketing via social media and other channels. The recruitment is opened, and applications are collected. •Preliminary Candidate Screening, Final Candidate List: Typically, the firm will recommend a short list of qualified candidates. Council, or the CAO Committee if Council delegates this task, will narrow the candidate pool to the top 3-5 candidates for interviews.
•Selection Process: Staff coordinates additional interviews, if necessary. Council may wish to design an inclusive selection process that may include advisory panel interviews. Final candidate will emerge as a result of interviews.

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•Staff Schedules Council Closed Session: Council discusses proposed employment contract, including salary and other key terms.
•Reference, Background and Appointment: Staff will draft a conditional offer and undergo a series of post-offer selection activities that include reference and background check. Once clear, the Council appointment may move forward to be scheduled on Council agenda for approval. The firm may assist with negotiating the terms of employment contract.
•Announcements: Communication to staff and work with the City’s Chief Communication Officer for a press release.
•City Council Meeting: Approval of employment agreement in open session to formalize offer of employment. New Clerk attends meeting for formal introduction.

RESOURCE IMPACT
The executive recruitment contract with Peckham & McKinney or alternate executive recruiter with fees up to $30k will be funded from the City Clerk‘s Office vacancy savings.

POLICY IMPLICATIONS
There is no immediate policy implication resulting from this report.

ATTACHMENTS
Attachment A: 2021 City Clerk Brochure
Attachment B: Peckham & McKenney 2021 Proposal
APPROVED BY:

Sandra Blanch
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Attachment A - 2021 City
Clerk Recruitment
Brochure

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Clerk Recruitment
Brochure

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& McKinney 2021
Proposal

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Proposal

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Item No. 7. Page 1 of 1

City Council
Supplemental Report
From: Jonathan Lait, Planning and Development Services Director Meeting Date: May 8, 2023
Item Number: 7
Report #:2305-1394
TITLE
Supplemental Report - Adoption of a Resolution Adopting the 2023-31 Housing Element and Consideration of the Associated California Environmental Quality Act (CEQA) Addendum to the Comprehensive Plan 2017 Final Environmental Impact Report

RECOMMENDATION
Receive transmittal.

BACKGROUND
This report transmits Attachment F previously not included in the above referenced staff report packet. Attachment F is a document that identifies HCD’s March 23, 2023 comments on the initial draft Housing Element and shows where those comments are addressed in the revised Housing Element.

It also transmits Exhibit D to the resolution, which demonstrates the Housing Element’s compliance with requirements of state law.

ATTACHMENTS
Attachment F: City Response Matrix to HCD Comment Letter Attachment C: Resolution to Adopt the 2023-2031 Housing Element, with updated Exhibit D APPROVED BY:

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Palo Alto Response Matrix to HCD Comment Letter, April 2023 Row
# Response to Comment Chapter Section
1 A Review and Revision
2 Review the previous element to evaluate the appropriateness, effectiveness, and progress in implementation, and reflect the results of this review in the revised element. (Gov. Code, § 65588 (a) and (b).)
Special Housing Needs: The element must provide an evaluation of the cumulative effectiveness of past goals, policies, and related actions in meeting the housing needs of special needs populations (e.g., elderly, persons with disabilities, large households, female-headed households, farmworkers, and persons experiencing homelessness) and revise programs as appropriate. In addition to evaluating progress or effectiveness of programs to address special needs groups, the element can also discuss the results, success, or lack of, challenges and opportunities from outreach, coordination, application for funding, incentives or other activities and then discuss potential strategies set forth in the current element to meet the need.

Added a section dedicated to the
discussion of the effectiveness in
addressing special needs including
a list of programs from the 5th
Cycle that address special needs
housing and a list of
accomplishments.

Appendix A: Past
Accomplishments
Appendix A: Past Accomplishments; A.3
Effectiveness in Addressing Special
Needs, page A-24 (redlined version)
3 B Housing Needs, Resources, Constraints
4 1

1. Affirmatively further[ing] fair housing in accordance with Chapter 15 (commencing with Section 8899.50) of Division 1 of Title 2…shall include an assessment of fair housing in the jurisdiction. (Gov. Code, § 65583, subd. (c)(10)(A).) 5 By-Right Permanent Supportive Housing (AB 2162): Supportive housing shall be a use by-right in zones where multifamily and mixed uses are permitted, including nonresidential zones permitting multifamily uses pursuant to Government Code section 65651. The element must demonstrate compliance with these requirements and include programs as appropriate.

Added discussion on the contract
with Project Sentinel for fair
housing compliance (audits,
outreach, information, etc.) City
received 6 fair housing complaints
with 1 resolved.

Appendix C:

Assessment of Fair
Housing
Appendix C: Assessment of Fair Housing;
C.2 Fairhousing Enforcement and
Outreach; Local Trends, page p. C-10
(redlined version)
HCD Comment

Page 1 of 21 ends

Palo Alto City CouncilMay 8, 2023

Palo Alto City Council
May 8, 2023