Resolution 2024-03 Page 3
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
63 Teakwood Lane *
64 Tiverton Court *
65 Via Verde Road 150’ n/o Covina Hills Road
66 Walnut Avenue Freeway Underpass
67 Walnut Avenue East side; AT&SF – 280’ North
68 Wickham Court *
69 Wildwood Lane *
B. The following streets shall be marked or posted “NO PARKING ANY TIME, EXCEPT IN DESIGNATED SPACES”:
STREETS LIMITS STREETS LIMITS
1 Auburn Road * 22 Leeds Court *
2 Beechwood Lane * 23 Lodi Creek Road *
3 Bidwell Road * 24 Lotus Circle *
4 Bonnieglen Lane * 25 Malakoff Road *
5 Caldwell Court * 26 Meadowglen Lane *
6 Canyon Hill Road * 27 Noah Court *
7 Dalton Road * 28 Oak CreekRoad *
8 Deer Creek Road * 29 Ophir Circle *
9 Derby Road * 30 Puente Street North side: 25’
w/o Calle
Leandro End
of Curb Return
(ECR) to ECR
10 Downie Circle * 31 Pistol Creek Court *
11 El Paso Court * 32 San Creek Road *
12 Fernglen Lane * 33 Shadyglen Lane *
13 Forestglen Lane * 34 Stone Creek Road *
14 Hathaway Rod. * 35 Tarryglen Lane *
15 Hartman Court * 36 Tucscon Court *
16 Heatherglen Lane * 37 Vermilion Creek
Road
*
17 Hidden Creek Road * 38 Via Vaquero *
18 Hollyglen Lane * 39 Walker Road *
19 Hutchings Court * 40 Whisperglen Lane *
20 Kelsey Road * 41 Willowglen Lane *
21 Kent Drive * 42 Woodglen Drive *
C. The following streets shall be marked or posted “NO STOPPING ANY TIME” or with TIME LIMITS:
STREETS LIMITS
1 Allen Avenue North side: 100’ e/o Calaveras Road
2 Allen Avenue North side: @ 615; 50’ either side of driveway 3 Arrow Highway East city limits – west city limits
Resolution 2024-03 Page 4
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
4 Bonita Avenue North side: Arrow Hwy. – 940’ east
5 Bonita Avenue South side: Pony Express – 170’ west
6 Bonita Avenue North side: San Dimas Canyon - 600’ west 7 Cataract Avenue Arrow Highway – Covina Boulevard
8 Cienega Avenue South side: Lone Hill Avenue – 600’ east 9 Cienega Avenue Valley (Pvt) Court – Oakglen Court
10 Covina Boulevard Cataract Avenue – 50’ w/o Terrace Drive east 11 Covina Boulevard South side: 150’ w/o 57fwy southbound on-ramp to 57fwy southbound on-ramp
12 Covina Boulevard South side: 200’ w/o Saints Court to 320’ e/o Saints Court
13 Covina Boulevard South side: from Lone Hill Avenue to 100’ east 14 Covina Boulevard Northside: w/o of driveway for 600’ (801 W Covina Boulevard)
15 Foothill Boulevard Wild Rose Lane – Birchnell Avenue 16 Foothill Boulevard West entrance Woodglen Drive 50’ each side 17 Foothill Boulevard 554 Foothill Blvd. 100’ w/o driveway 18 Gladstone Street South side: Lone Hill Avenue - Railroad crossing @ Costco
19 Gladstone Street North side: Lone Hill Avenue – 1029 Gladstone Street 20 Gladstone Street South side: Shellman Avenue – east driveway 21 Gladstone Street Dallas Road to 50’ e/o Monte Vista Avenue 22 Gladstone Street Delancey Avenue to San Dimas Canyon Road both sides
23 Gladstone Street Freeway underpass and southside 200’ e/o underpass 24 Gladstone Street Extend from Freeway underpass northside to west BCR of Groveton
25 Horsethief Canyon
Park Road
West parking lot perimeter and circle
26 Lone Hill Avenue East side: n/o Overland Ct. – Gladstone Street 27 Lone Hill Avenue East side: Covina Boulevard – Cienega Avenue 28 Lone Hill Avenue Arrow Highway – 400’ northerly
29 Lone Hill Avenue Gladstone Street to Saint George west side 30 Overland Court North side: entire side
31 Overland Court South side: from Lone Hill Avenue to 550’ east 32 Overland Court Cul de sac bulb
33 Puente Street West city limit – Via Esperanza both sides 34 Puente Street North side: 200’ e/o Via Verde
35 Puente Street South side: e/o Via Verde to Calle Leandro 36 Puente Street West side: west city limits – 68’ e/o Via Esperanza 37 Puente Street West side: 1500’ w/o Via Verde
38 Saints Court West side: Covina Boulevard – 300’ south 39 Saints Court West side: 441’ s/o Covina Boulevard – south to end of cul-de-sac
40 Saints Court East side: Covina Boulevard – south to end 41 San Dimas Avenue West side: 200’ north to 200’ s/o Arrow Highway 42 San Dimas Avenue Via Amarillo – Avenida Domingo
43 San Dimas Avenue Avenida Domingo 1600’
Resolution 2024-03 Page 5
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
44 San Dimas Avenue West side: s/o 57 Fwy
45 San Dimas Avenue East and west side, between Gladstone Street to Allen Avenue (exception east side on Allen Ave. for 200’)
46 San Dimas Avenue West side from 210 Fwy to 180’ s/o 210 Fwy 47 San Dimas Avenue Both sides from 210 Fwy to Baseline Road 48 San Dimas Avenue East side: 200’ s/o Foothill Blvd
49 San Dimas Avenue 502 San Pablo Court – in front of fire access gate for the La Cuesta HOA
50 San Dimas Avenue West side: Bonita Ave. to Commercial; east side from Arrow Hwy to Bonita Ave.
51 San Dimas Avenue Allen Avenue to Gladstone Street, both sides 52 San Dimas Canyon
Road
East side: 50’ n/o Via Los Santos – north 100’ to 2nd
driveway entrance
53 San Dimas Canyon
Road
West side: 600’ s/o Bonita intersection and 75’ s/o
Bonita Ave.
54 Terrace Drive/East 50’ n/o Covina Boulevard; east and west side 55 Via Verde North side: 200’ e/o Puente Street to Puente Street 56 Via Verde North side: Puente Street to Camino del Cerritos 57 Via Verde South side: 115’ e/o Camino del Cerritos
58 Via Verde South side: 60’ w/o Camino del Cerritos
59 Via Verde North side: 160’ w/o Camino del Cerritos
60 Walnut Avenue Flagstaff Street – Allen Avenue; east side only 61 Walnut Avenue West side: double arrow 18’ south of driveway at 251 and at existing 2-hr sign (left arrow)
D. The following streets shall be marked or posted “NO STOPPING ANY TIME – TOW AWAY”:
STREET LIMITS
1 Bonita Avenue South side: Iglesia – 350’ w/o Walnut Avenue 2 San Dimas Avenue Via Vaquero – 210 Freeway
3 San Dimas Canyon
Road
Canyon Hill Road – Caballo Ranch Road
E. The following streets shall be marked or posted with the following TIME LIMITS or PARKING RESTRICTIONS:
STREET LIMITS
1 Acacia Street “No Parking, Commercial Vehicles, from 5AM to 7AM” east side Acadia Street from Arrow Hwy to Bonita Avenue 2 Allen Avenue “No Parking 8:30AM-2:00PM/Passenger Loading 7:30- 8:30AM & 2:00-3:30PM, 5 Minute Parking, School Days
Only” south side of Allen Ave between San Dimas Canyon
Road and school’s entrance driveway
3 Allen Avenue “No Parking 8:30AM-2:00PM/Passenger Loading 7:30- 8:30AM & 2:00-3:30PM, School Days Only” south side of
Allen Ave between school driveways
Resolution 2024-03 Page 6
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
4 Auto Center
Drive/Amelia Ave
“No Parking, Student Loading/Unloading, 7:30-8:30AM,
and 1:00-3:00PM, Non-School Days Exempt”, west of
Amelia
5 Amelia Avenue West side: @ Shull School, South driveway – 200’ south “No Parking 7:30 A.M. to 8:30 A.M. and 1:30 P.M. to 3:30 P.M. During School Days”
6 Bonita Avenue North side: San Dimas Avenue – Iglesia Avenue, “1-Hour Parking, 7:00 A.M to 6:00 P.M.”
7 Calaveras Rd. Entrance sign: “No Parking Except on Calaveras Road, Parking Subject to City Overnight Restrictions”
8 Cannon Avenue Entrance sign: “No Parking Any Time on Cannon Avenue, Community Streets”
9 Covina Boulevard South side: 150’ e/o Lone Hill Ave to 600’ e/o Lone Hill Ave, “No Parking, 8AM to 9AM and 1PM to 4PM, School
Days, Student Loading & Unloading”
10 Covina Boulevard South side: 400’ e/o Saints Court to 1200’ e/o Saints Court, “No Parking, 8M to 9AM and 1PM to 4PM, School
Days, Student Loading & Unloading”
11 Eucla Avenue R/R Crossing to Alley North of 2nd Street, east side- “2- hour parking”
12 Eucla Avenue In front of 205 and 209, west side- “2-hour parking” 13 Exchange Place East side: “20-Minute Parking”
14 Foothill Blvd.
Frontage
Birchnell Avenue – 100’ west
15 Gladstone Street
Frontage
“2 Hour Parking, 8:00A.M. to 4:00P.M., Mon – Fri” w/o of south BCR at Groveton
16 Gladstone Street North side: 170’ e/o Lone Hill Avenue - 630’ e/o Lone Hill Avenue, “1 Hour Parking 7:00 A.M. to 6:00 P.M. except
Saturdays, Sundays and Holidays”
17 Juanita Avenue North side: Walnut – first driveway “No Parking, 7:30AM to 3:30PM, School Days; Passenger Loading Only, 7:30
A.M. to 3:30 P.M., School Days”
18 Lone Hill Avenue East side: North driveway – 260’ south “No Parking, 8AM to 9AM and 1PM to 4PM, School Days, Student Loading
& Unloading”
19 Lone Hill Avenue Lone Hill Avenue - East side: Between North driveway and South driveway “No Parking, 8AM to 9AM and 1PM to
4PM, School Days, Buses Exempt”
20 Lone Hill Avenue East side: South driveway to Cypress Street “No Parking, 8AM to 9AM and 1PM to 4PM, School Days, Student
Loading & Unloading”
21 Monte Vista Avenue East side: First Street – 200’ south, “1 Hour Parking 9:00 A.M. to 6:00 P.M. except Sunday”
22 Monte Vista Avenue East side: Bonita Avenue – 300’ north “30 Minute Parking”
23 Monte Vista Avenue West side: Bonita Ave. – 300’ north, “1 Hour Parking 9:00 A.M. to 6:00 P.M.”
24 Monte Vista Avenue Fifth Street to Gladstone Street, east side – “No Parking Any Time – Tow Away”
Resolution 2024-03 Page 7
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
25 Paseo Victoria Entrance Sign: “No Parking on Paseo Victoria Monday thru Friday 8:00 A.M. to 10:00 A.M. Except Holidays”
26 Puddingstone Drive East side: 250’ s/o of Tanglewood, “No Parking, 10am5pm, June-Sept” 27 San Dimas Canyon
Road
“Passenger Loading 7:30-8:30AM & 2:00-3:00PM School
Days, 5 Minute Parking” east side between Allen Avenue
and school pedestrian gate
28 Via Verde Avenue Covina Hills Road – s/o Camino Del Sur; east side only. “No Parking 8:00 A.M. to 10:00 A.M. Monday thru Friday”. 29 Walnut Avenue West side: AT&SF – 280’ north, “2-Hour Parking 8:00 A.M. to 4:00 P.M., Monday thru Friday”
30 Walnut Avenue East side: Juanita Avenue to Fifth Street “No Parking, 7:30AM to 3:30PM, School Days; Passenger Loading
Only, 7:30 A.M. to 3:30 P.M., School Days”
31 Walnut Avenue S/o Foothill Boulevard – Baseline Road east & west side of street “2 Hour Parking 9:00 A.M. to 3:00 P.M. Monday thru Friday”
32 Walnut Avenue N/o Cannon Avenue - Harwood Court west side only; “No Parking Any Time – Tow Away”
33 Walnut Avenue Cannon Avenue to Puddingstone Drive, both sides – “No Parking Any Time – Tow Away”
F. Red Curb - Standing and parking on the following streets or portions of streets, when containing painted curb markings, shall be restricted as describing in California Vehicle Code 21458:
1. Any streets or portions of streets not listed in Sections A through E above, for which curb markings have been determined necessary by the City Traffic Safety Committee to eliminate any unusual traffic concern and/or to improve public safety.
STREET LIMITS
1 Lyford Drive 22’ from edge of 904 Lyford Drive driveway to BCR 2 Avenida Loma Vista Between San Dimas Avenue and Paseo Gracia, on north and south sides of Avenida Loma Vista. W/o Paseo
Gracia on south side of Avenida Loma Vista to second
driveway (808 Ave Loma Vista)
3 Tanglewood Lane 27’ red curb on n/s Tanglewood Lane e/o Briarwood Lane 4 Cataract Avenue 35’ red curb west side 244 W Railway Street 5 Cataract Avenue 10’ red curb west side 245 W Railway Street 6 Covina Boulevard South side: 100’ e/o Lone Hill Avenue 7 Covina Boulevard North side: 100’ w/o of entrance to Charter Oak Mobile Home Estates
8 Juanita Avenue 22’ w/o of BCR on southwest corner of Juanita Avenue at San Dimas Canyon Road
9 S San Dimas Canyon
Road
East side: between 225 S San Dimas Canyon Road
and 241 S San Dimas Canyon Road
10 Covina Blvd Northside: Lone Hill Ave to 80’ e/o Beginning of Curb Return (BCR)
Resolution 2024-03 Page 8
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
11 Gladstone Street South Side: Belleview’s beginning of curb return to 1 st driveway westerly (approx. 55’)
12 Avenida Entrada West side: n/o Avenida Ladera from beginning of curb return to 1st driveway (approx. 25’)
13 Calle Rosa 50’ of red curb in front of LA County Sewer Pump at the easterly end of roadway
14 Teague Drive Between unit #205 and #294
Between unit #211 and #213
Between unit #214 and #216
Between unit #222 and #224
15 Walnut Avenue West side; 90’ n/o AT&SF tracks to 175’ s/o AT&SF tracks
16 Walnut Avenue East side; 200’ s/o AT&SF to Bonita Avenue 17 Eucla Avenue East side: 90’ s/o AT&SF tracks to 75’ n/o AT&SF tracks
18 Eucla Avenue West side: 120’ n/o AT&SF tracks to 90’ s/o AT&SF tracks
19 Bonita Avenue North side: 90’ e/o Cataract Ave to 375’ w/o Cataract Ave
20 Bonita Avenue South side: Acacia Ave to 175’ w/o Monte Vista Ave 21 Cataract Avenue East side: 110’ s/o Bonita Ave to 85’ n/o Bonita Ave 22 Cataract Avenue West side: 115’ n/o Bonita Ave to 120’ s/o Bonita Ave 23 San Dimas Canyon Road West side: Palomares Ave to Arrow Hwy G. Permit Parking District – As defined by Municipal Code 10.25, Permit Parking Program, a new process for the implementation of a Permit Parking District was established on January 26, 2021. The Permit Parking District is an area with streets and boundaries designated by a city council resolution wherein vehicles displaying a valid permit shall be exempt from parking restrictions established by this chapter. The Parking Permit Districts recently created are as follows:
PERMIT PARKING STREET
DISTRICT IDENTIFIER RESOLUTION
D1 Portions of Avenida Loma
Vista, Paseo Gracia
Refer to Resolution 2021-54 and Resolution 2021-
66 D2 Danecroft Ave, Benbow St,
Benwood St
Refer to Resolution 2021-53
H. Loading Only – The following areas/streets shall be designated as “Loading Only” zones:
STREET LIMITS
South Monte Vista Avenue North of Railway Street to cul-de-sac (street closure due to Gold Line)
I. All signs and markings regulating parking and stopping which exist in the City on the date of adoption of this resolution which were erected and placed by the officers and officials of the City, are declared to be the official traffic signs and regulations of the City and all matters pertaining thereto are ratified and confirmed by the City Council.
Resolution 2024-03 Page 9
Annual Update of Parking Prohibitions on Certain City Streets January 23, 2024
*Indicates the full street including both sides of the street New (2023) installation in bold font
SECTION 2. The City Traffic Safety Committee shall maintain listings of all streets or portions of streets determined necessary to have curb markings under Section 1, subdivision F, of this Resolution.
PASSED, APPROVED AND ADOPTED this 23rd day of January, 2024. ____________________________________
Emmett G. Badar, Mayor
ATTEST:
_______________________________
Debra Black, City Clerk
I, Debra Black, City Clerk, hereby certify that Resolution 2024-03 was adopted by the City Council of San Dimas at its regular meeting of January 23, 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
Debra Black, City Clerk
Agenda Item Staff Report
To: Honorable Mayor and Members of City Council
For the Meeting of January 23, 2024
From: Chris Constantin, City Manager
Prepared by: Michael O'Brien, Director of Administrative Services Subject: Receive and File the December 2023 Investment Report ____________________________________________________________________________
SUMMARY
Monthly Reporting for the City of San Dimas investment of idle funds and cash condition.
RECOMMENDATION
Staff recommends that the City Council:
• Receive and file Investment and Cash Condition report for the month of December 2023.
FISCAL IMPACT
There is no fiscal impact for the recommended action.
DISCUSSION/ANALYSIS
It is the policy of the City of San Dimas to invest public funds in a manner that will provide an optimal combination of security and investment return while meeting the daily cash flow demands of the City and conforming to all State and local statutes governing the investment of public funds.
The priority objectives of the City’s investment activities are as follows: Safety, liquidity and returns.
The City’s investment portfolio as of December 31, 2023 maintained liquid cash in the amount of $9,929,361.87 held between BMO Harris, the City and LAIF which amounts to just under 14% of the portfolio to provide the cash flow necessary for City payroll and operating expenditures as well as large capital project expenses and unforeseen emergencies that may occur come up throughout the year. The following chart displays the total investments and weighted average yield per investment category:
December 2023 Investment Report Page 2
For the Meeting of January 23, 2024
The City’s Banking Services Provider BMO Harris provides a fully collateralized checking account whose funds are used to make cash payments for City payroll and operational expenses. The city performs daily bank reconciliations to assure adequate cash is held in the checking account for upcoming expenditures. Cash held in the account earns income credits that accumulate at a rate of .55% which offsets banking service charges that are charged each quarter to the city.
Petty Cash is held at City facilities for cashiering purposes and to reimburse small dollar expenditures between $0.01 and $50.00.
The Local Agency Investment Fund (LAIF) is considered a Local Agency Investment Pool and acts much like a money market account. Funds can be deposited and withdrawn without penalty.
The pool invests funds in short-term securities and can produce returns at rates like money markets but is considered more secure.
CALTRUST is a public agency that provides investment funds that are liquid, short term, and medium term. The assets held by CALTRUST are managed by State Street Global Advisors.
Since the City first invested with CALTRUST in August of 2010, buying into the Medium-Term Fund. The City has made various contributions throughout the years as well as reinvested any accumulated interest earnings throughout the life of the fund.
In the month of December 2023, a liquidity fund account was opened with CALTRUST of which interest earnings from the median term fund are being deposited into in order to take advantage of the higher rate of return and consistent market value which could be transferred to another account at any time.
In total the weighted average cost of investing in CALTRUST is $9.98. Currently due to increasing interest rates driving market rates down for assets already held, the share price of the fund as of December 31, 2023, was $9.82. Until interest rates decline to the point that share price would increase to $9.98 or above, the city would be recognizing a loss on sale. However, the City could pull out funds at any time if liquidity needs arose. The City Treasurer also utilizes Brokers to WEIGHTED AVG.
YIELD TOTAL INVESTMENT
0.00% $1,217,977.02
0.00% $2,560.00
5.43% $43,541.43
3.93% $8,708,824.85
3.87% $14,235,354.80
3.70% $24,208,258.10
WEIGHTED AVG.
YIELD TOTAL INVESTMENT
1.95% $3,314,492.50
5.29% $807,376.80
3.05% $2,966,000.00
13.00% $5,743,961.77
2.64% $737,350.00
5.35% $15,826,178.00
10.35% $17,872,876.00
4.04% $47,268,235.07
3.90% $71,476,493.17
STIFEL NEGOTIABLE CD'S OF DEPOSIT
TOTAL BROKER ACCOUNTS
TOTAL OF ALL INVESTMENTS
BMO HARRIS - GENERAL ACCOUNT
SAN DIMAS PETTY CASH - IMPREST FUNDS
LOCAL AGENCY INVESTMENT FUND (LAIF) CA STATE TREASURER
CALTRUST INVESTMENT PROGRAM-MEDIUM TERM-SHARES
TVI CORPORATE BONDS
TVI U.S.TRESURY BILLS
TVI NEGOTIABLE CERTIFICATES OF DEPOSIT
STIFEL GOVERNMENT SPONSORED ENTERPRISES (GSE) AGENCY BONDS
STIFEL COMMERCIAL & MUNICIPAL BONDS
COLLATERALIZED, POOLED AND PUBLIC AGENCY INVESTMENTS
INVESTMENTS PURCHASED THROUGH BROKERS
TOTAL OF ALL COLLATERALIZED,POOLED AND PUBLIC AGENCY ACCOUNTS
STIFEL TRESURY BILLS
CALTRUST INVESTMENT LIQUIDITY FUNDS
December 2023 Investment Report Page 3
For the Meeting of January 23, 2024
purchase investment securities such as Government Sponsored Enterprises (Agency Bonds), Corporate Bonds, U.S. Treasuries and Negotiable CD’s.
The investment policy and California Government Code Section 53600.3 allows the City to invest 30% of its portfolio in Certificates of Deposit and 20% of its portfolio in Corporate Bonds through Brokers. U.S. Treasuries and Government Sponsored Enterprises (Agency Bonds) have no investment limits; however, it is considered a best practice not to invest more than 5% in a single Government Sponsored Enterprises.
The following is a breakdown of the total invested in each type of investment along with its percentage of the portfolio:
Additionally, per the Investment Policy, the City has an established maturity matrix with the investment ranges as follows:
The weighted average maturity for all City investments is 1.12 years, which is ideal in today’s rising interest rate environment. The short time to maturity of our investments will allow the city to reinvest the matured principal amounts into investments that are likely to be offered at higher yields.
Specific details pertaining to the Cities investment names, CUSIP #’s, coupon and purchase yields, maturity dates, par and book values are included in the Investment and Cash Condition Report attachment.
ENVIRONMENTAL REVIEW
Amount % of Portfolio
$1,220,537.02 2%
$8,708,824.85 12%
$14,278,896.23 20%
$5,743,961.77 8%
$4,051,842.50 6%
$16,633,554.80 22%
$20,838,876.00 30%
$71,476,493.17 100%
INVESTMENTS BY TYPE
CHECKING ACCOUNTS/CASH ON HAND
Type
CALTRUST
GSE AGENCY BONDS
COMMERCIAL BONDS
U.S TREASURY BILLS
NEGOTIABLE CERTIFICATES OF DEPOSIT
LOCAL AGENCY INVESTMENT FUND (LAIF)
TOTAL OF ALL INVESTMENTS
Amount % of Portfolio
$ 45,064,812.90 64%
$ 14,222,416.52 19%
$ 12,189,263.75 17%
$ 71,476,493.17 100%
1.12 3.90%
INVESTMENTS BY MATURITY
Maturity Range
1 Day to 1 Yr.
1 Yr. to 3 Yrs.
3 Yrs. to 5 Yrs.
Total
Weighted Average Maturity in Years
Weighted Average Yield
December 2023 Investment Report Page 4
For the Meeting of January 23, 2024
Pursuant to CEQA guidelines Section 15061 (b)(3), CEQA does not apply to this item because there is no potential for causing a significant effect on the environment. Therefore, no additional environmental review is needed at this time.
Respectfully submitted,
Michael O'Brien
Director of Administrative Services
Attachments:
1. Investment and Cash Condition Report
CITY OF SAN DIMAS
MONTHLY CASH BALANCE INVESTMENT REPORT
DECEMBER 2023
ENDING BALANCE
$1,217,977.02
$2,560.00
$8,708,824.85
$43,541.43
$14,235,354.80
CUSIP # COUPON
YIELD
PURCHASE
YIELD MATURITY PAR VALUE BOOK VALUE
WELLS FARGO & CO MEDIUM TERM - 3 YEAR BOND 95001DC40 4.50% 4.50% 7/28/2025 $250,000.00 $250,000.00 CFI- 5 YEAR BOND 17298CK64 1.00% 1.00% 8/28/2025 $500,000.00 $500,000.00 BANK OF AMERICA - 5 YEAR BOND 06048WK25 0.75% 0.75% 10/30/2025 $250,000.00 $250,000.00 GOLDMAN SACHS GROUP - 5 YEAR BOND 38150EH4 0.80% 0.80% 11/24/2025 $290,000.00 $290,000.00 JP MORGAN BOND - 5 YEAR BOND 48128G3G3 1.20% 1.20% 4/30/2026 $285,000.00 $285,000.00 EXXON MOBILE CORP - 7 YEAR BOND 30231GBD3 2.28% 0.98% 8/16/2026 $250,000.00 $264,953.75 GOLDMAN SACHS GROUP - 5 YEAR BOND 38150AJ63 1.70% 1.70% 10/29/2026 $210,000.00 $210,000.00 MORGAN STANLEY FIN GLOBAL - 5 YEAR BOND 61766YGT2 1.35% 1.35% 11/18/2026 $250,000.00 $250,000.00 JP MORGAN CHASE BOND - 5 YEAR BOND 48128G5Y2 2.10% 2.10% 1/29/2027 $270,000.00 $270,000.00 BANK OF AMERICA - 5 YEAR BOND 06048WS84 2.75% 2.75% 3/2/2027 $250,000.00 $250,000.00 MORGAN STANLEY-FIN GLOBAL 5 YEAR BOND 61766YJQ5 3.25% 3.25% 4/13/2027 $250,000.00 $250,000.00 INTEL CORP - 5 YEAR BOND 458140BY5 3.75% 4.25% 8/5/2027 $250,000.00 $244,538.75 $3,314,492.50
UNITED STATES TREASURY BILLS - 4 MONTH 912797JK4 5.32% 5.32% 3/26/2024 $300,000.00 $295,025.40 UNITED STATES TREASURY BILLS - 4 MONTH 912797JN8 5.28% 5.28% 4/16/2024 $521,000.00 $512,351.40 $807,376.80
TEXAS EXCHANGE- 4 YEAR CD 88241THS2 0.65% 0.65% 6/21/2024 $249,000.00 $249,000.00 GENERAL ELECTRIC CU - 2 YEAR CD 369674BT2 3.25% 3.25% 6/28/2024 $249,000.00 $249,000.00 OCEANFIRST BANK - 2 YEAR CD 67523TBE2 3.25% 3.25% 7/1/2024 $246,000.00 $246,000.00 MORGAN STANLEY PRIVATE BANK - 5 YEAR CD 61760AR76 2.20% 2.20% 8/1/2024 $247,000.00 $247,000.00 AMERICAS CR - 2 YEAR CD 03065AAV5 3.65% 3.65% 9/27/2024 $249,000.00 $249,000.00 SYNCHRONY BK RETAIL - 3 YEAR CD 87164WQ68 3.30% 3.30% 8/26/2025 $245,000.00 $245,000.00 CAPITAL ONE BANK - 4 YEAR CD 14042TFH5 2.65% 2.65% 4/13/2026 $246,000.00 $246,000.00 TOYOTA FINANCIAL SAVINGS - 5 YEAR CD 89235MLC3 0.95% 0.95% 7/15/2026 $248,000.00 $248,000.00 GOLDMAN SACHS BANK USA NEW YORK - 5 YEAR CD 38149M4T7 2.65% 2.65% 4/13/2027 $246,000.00 $246,000.00 STATE BANK OF INDIA - 5 YEAR CD 856285N64 3.30% 3.30% 6/1/2027 $245,000.00 $245,000.00 CENTRAL BANK LITTLE ROCK ARK - 5 YEAR CD 152577BS0 5.30% 5.30% 6/30/2028 $248,000.00 $248,000.00 ENVISION C.U- 5 YEAR CD 29415AAQ8 5.40% 5.40% 7/14/2028 $248,000.00 $248,000.00 $2,966,000.00
FEDERAL HOME LOAN - 6 MONTH BOND 3130AWTX8 6.10% 6.10% 2/28/2024 $500,000.00 $500,000.00 FNMA - FEDL NAT MTG ASSN POOL BALLOON - 5 YEAR BOND 3138L8UV4 2.92% 4.85% 1/1/2025 $300,000.00 $272,755.79 FEDERAL NATIONAL MEETING ASSN- 5 YEAR BOND 3136G4A86 0.50% 0.55% 7/21/2025 $250,000.00 $249,375.00 FEDERAL FARM BANK BOND - 4 YEAR BOND 3133ENEH9 1.13% 1.13% 11/17/2025 $250,000.00 $250,000.00 FEDERAL HOME LOAN BANK -- 5 YEAR BOND 3130AL2G8 0.60% 0.75% 2/18/2026 $250,000.00 $248,250.00 FNMA - DISC BOND - 3YEAR 3138LDPW7 2.68% 4.58% 5/1/2026 $250,000.00 $228,805.98 FEDERAL HOME LOAN BK BD - 5 YEAR BOND 3130ANMH0 1.10% 1.42% 8/20/2026 $250,000.00 $246,400.00 FEDERAL HOME LOAN BK BD - 4 YEAR BOND 3130AUSR6 5.00% 5.03% 2/9/2027 $500,000.00 $499,500.00 FEDERAL FARM CREDIT BANK - 5 YEAR BOND 3133ENSZ4 2.75% 2.75% 4/1/2027 $250,000.00 $250,000.00 FEDERAL HOME LOAN BK (FHLMC) - 5 YEAR BOND 3134GXTZ7 3.25% 3.25% 5/26/2027 $250,000.00 $250,000.00 FEDERAL HOME LOAN BK BD - 5 YEAR BOND 3130ASF53 3.25% 3.41% 6/30/2027 $500,000.00 $499,250.00 FEDERAL HOME LOAN BK BD - 5 YEAR BOND 3130ASZ69 4.05% 4.08% 8/27/2027 $250,000.00 $249,625.00 FEDERAL HOME LOAN - 5 YEAR BOND 3130AWMJ6 5.75% 5.75% 7/26/2028 $500,000.00 $500,000.00 FEDERAL HOME LOAN - 5 YEAR BOND 3134GYXS6 6.00% 6.00% 7/27/2028 $500,000.00 $500,000.00 FEDERAL HOME LOAN - 5 YEAR BOND 3133EPZK4 6.22% 6.22% 10/24/2028 $500,000.00 $500,000.00 FEDERAL FARM CR - 5 YEAR BOND 3130AY6S0 5.42% 5.42% 12/21/2028 $500,000.00 $500,000.00 $5,743,961.77
INVESTMENTS
STIFEL GOVERNMENT SPONSORED ENTERPRISES (GSE) AGENCY BONDS INVESTMENTS SUBTOTAL:
TVI TRESURY BILLS INVESTMENT SUBTOTAL:
SUMMARY OF BANK BALANCES YIELD
3.93%
BMO HARRIS - GENERAL ACCOUNT
SAN DIMAS PETTY CASH - IMPREST FUNDS
LOCAL AGENCY INVESTMENT FUND (LAIF) CA STATE TREASURER
5.43%
INVESTMENTS HELD WITH TVI:
INVESTMENT HELD WITH STIFEL:
TVI CD'S INVESTMENTS SUBTOTAL :
TVI CORPORATE BONDS INVESTMENTS SUBTOTAL:
CALTRUST INVESTMENT PROGRAM-MEDIUM TERM-SHARES: $9.82 per share 3.87%
CALTRUST LIQUIDITY FUND
ATTACHMENT 1
BANK OF AMERICA - 5 YEAR BOND 06048WP20 1.25% 1.25% 9/24/2026 $250,000.00 $250,000.00 APPLE INC - 10 YEAR CORPORATE BOND 037833CR9 3.20% 3.30% 5/11/2027 $250,000.00 $248,850.00 SADDLEBACK VALLEY - 7.75 YEAR BOND (MUNICIPAL BOND) 786318LF0 2.40% 3.41% 8/1/2027 $250,000.00 $238,500.00 $737,350.00
U.S TREASURY BILL - 5 MONTH 912797GD3 5.31% 5.31% 1/18/2024 $3,500,000.00 $3,425,450.00 U.S TREASURY BILL - 6 MONTH 912797GP6 5.47% 5.47% 2/29/2024 $5,100,000.00 $4,964,850.00 U.S TREASURY BILL - 3 MONTH 912797LL9 5.27% 5.27% 3/21/2024 $1,700,000.00 $1,678,002.00 U.S TREASURY BILL - 4 MONTH 912797JN8 5.28% 5.28% 4/16/2024 $890,000.00 $875,226.00 U.S TREASURY BILL - 4 MONTH 912797JK4 5.30% 5.30% 5/23/2024 $1,000,000.00 $983,050.00 U.S TREASURY BILL - 6 MONTH 912797HR1 5.30% 5.30% 5/23/2024 $3,000,000.00 $2,925,000.00 U.S TREASURY BILL - 6 MONTH 912796ZW2 5.24% 5.24% 6/20/2024 $1,000,000.00 $974,600.00 $15,826,178.00
EVANSVILLE TEACHERS FCU - 1.5 YEAR CD 299547BB4 3.10% 3.10% 1/8/2024 $249,000.00 $249,000.00 CITY & CNTY CR UN ST PAUL - 1.5 YEAR CD 177517AB5 3.25% 3.25% 2/26/2024 $249,000.00 $249,000.00 UKRAINIAN FCU - 1 YEAR CD 90372WAB6 5.05% 5.05% 5/8/2024 $248,000.00 $248,000.00 LOCAL GOVT FEDRL CR UN- 1 YEAR CD 53955LAC1 5.15% 5.15% 5/17/2024 $248,000.00 $248,000.00 APPLE BANK FOR SVGS NEW YORK - 2 YEAR CD 03784JTK0 3.20% 3.20% 7/22/2024 $246,000.00 $246,000.00 AUSTIN TELCO FED CR - 2 YEAR CD 052392BM8 3.40% 3.40% 8/12/2024 $249,000.00 $249,000.00 AMERICAS CHRISTIAN CR - 2 YEAR CD 03062CAD4 3.40% 3.40% 8/30/2024 $248,000.00 $248,000.00 FIRST TECH FCU - 18 MONTH CD 33715LEX4 5.25% 5.25% 10/15/2024 $248,000.00 $248,000.00 DART BANK - 2.5 YEAR CD 237412AR2 3.00% 3.00% 12/20/2024 $249,000.00 $249,000.00 DIRECT FEDERAL CREDIT UNION - 2.5 YEAR CD 5460FDD5 3.00% 3.00% 12/23/2024 $249,000.00 $249,000.00 TECHNOLOGY CREDIT UNION - 2 YEAR CD 87868YAG8 5.00% 5.00% 1/21/2025 $249,000.00 $249,000.00 VERIDIAN CREDIT UNION - 2 YEAR CD 92348DAB5 4.75% 4.75% 1/21/2025 $249,000.00 $249,000.00 SAFRA NATL BANK OF NY - 3 YEAR CD 78658RHM6 2.00% 2.00% 3/24/2025 $248,000.00 $248,000.00 LIVE OAK BANK- 5 YEAR CD 538036LD4 1.40% 1.40% 3/31/2025 $249,000.00 $249,000.00 MEDALLION BANK - 5 YEAR CD 58404DGR6 1.60% 1.60% 3/31/2025 $248,000.00 $248,000.00 CLEARPATH FEDERAL CU BURBANK- 2 YEAR CD 18507MAA9 5.15% 5.15% 4/28/2025 $248,000.00 $248,000.00 DISCOVER BK - 3 YEAR CD 254673B70 2.80% 2.80% 4/28/2025 $247,000.00 $247,000.00 UTAH COMMUNITY CU - 2 YEAR CD 917352AB2 4.80% 4.80% 4/28/2025 $248,000.00 $248,000.00 FLAGSTAR BANK - 5 YEAR CD 33847E3D7 1.15% 1.17% 4/29/2025 $248,000.00 $247,876.00 HSBC BANK - 5 YEAR CALLABLE CD 44329ME33 1.30% 1.30% 5/7/2025 $248,000.00 $248,000.00 INSTITUTION FOR SVGS - 3 YEAR CD 45780PBL8 3.10% 3.10% 5/20/2025 $249,000.00 $249,000.00 CARTER FEDERAL C.U 3 YEAR CD 14622LAC6 3.00% 3.00% 6/23/2025 $249,000.00 $249,000.00 HUGHES FED CR - 2 YEAR CD 444425AA0 5.25% 5.25% 6/30/2025 $248,000.00 $248,000.00 MID AMERICAN CU - 2 YEAR CD 59522NAE4 5.25% 5.25% 6/30/2025 $248,000.00 $248,000.00 MERITRUST CR UN - 3 YEAR CD 59001PAS8 3.35% 3.35% 7/8/2025 $249,000.00 $249,000.00 CREDIT UNION OF TEXAS - 3 YEAR CD 22551KAB8 3.30% 3.30% 7/22/2025 $246,000.00 $246,000.00 TVA CMNTY CR UN - 3 YEAR CD 87305MAB6 3.25% 3.25% 8/4/2025 $249,000.00 $249,000.00 RESOURCE ONE CR UN - 3 YEAR CD 76124YAE6 3.30% 3.30% 8/18/2025 $249,000.00 $249,000.00 IDEAL CREDIT UNION - 3 YEAR CD 45157PAY6 4.00% 4.00% 8/29/2025 $249,000.00 $249,000.00 ALABAMA CREDIT UNION - 3 YEAR CD 01025RAB5 3.60% 3.60% 9/22/2025 $249,000.00 $249,000.00 UNIVERSITY CREDIT UNION - 3 YEAR CD 914242AA0 4.00% 4.00% 9/26/2025 $249,000.00 $249,000.00 BARCLAYS BANK - 4 YEAR CD 06740KNT0 1.00% 1.00% 12/15/2025 $248,000.00 $248,000.00 US ALLIANCE FED C.U - 4 YEAR CD 90352RCD5 1.35% 1.35% 1/28/2026 $249,000.00 $249,000.00 FARMERS & MERCHANTS BANK- 3.5 YEAR CD 3078115EL9 3.20% 3.20% 2/5/2026 $249,000.00 $249,000.00 CFG COMMUNITY BANK - 3.5 YEAR CD 12527CFL1 3.80% 3.80% 3/11/2026 $245,000.00 $245,000.00 ALASKA US FEDERAL CREDIT UNION - 3 YEAR CD 011852AH3 5.15% 5.15% 3/23/2026 $248,000.00 $248,000.00 CMNTY CAPITAL BANK- 4 YEAR CD 20033A2Z8 2.60% 2.60% 4/14/2026 $249,000.00 $249,000.00 BAXTER CR UN - 4 YEAR CD 07181JAD6 3.05% 3.05% 6/22/2026 $249,000.00 $249,000.00 CATHOLIC & COMMUNITY CR UNION - 3 YEAR CD 14919NAA8 5.30% 5.30% 6/22/2026 $248,000.00 $248,000.00 STIFEL COMMERCIAL & MUNICIPAL BONDS SUBTOTAL:
STIFEL TRESURY BILLS INVESTMENT SUBTOTAL:
INSPIRE FEDERAL CREDIT UNION - 3 YEAR CD 457731AQ0 5.00% 5.00% 6/30/2026 $248,000.00 $248,000.00 NEW YORK COMMUNITY BANK - 5 YEAR CD 649447UZ0 0.70% 0.70% 7/1/2026 $249,000.00 $249,000.00 SALLIE MAE BK SALT LAKE CITY UT - 5 YEAR CD 795451AB9 1.00% 1.00% 7/21/2026 $248,000.00 $248,000.00 FIRST STATE BANK - 4 YEAR CD 33650TAH3 3.60% 3.60% 9/16/2026 $249,000.00 $249,000.00 QUORUM FED CR - 4 YEAR CD 74909LAB6 3.85% 3.85% 9/23/2026 $249,000.00 $249,000.00 PENTAGON FEDERAL CR UN - 5 YEAR CD CUSIP #70962LAS1 70962LAS1 0.90% 0.90% 9/29/2026 $249,000.00 $249,000.00 ONPATH FEDERAL CREDIT UN - 4 YEAR CD 68283MAF3 3.25% 3.25% 9/30/2026 $249,000.00 $249,000.00 HAWAII CENTRAL FCU - 3 YEAR CD 419700AG4 5.50% 5.50% 10/27/2026 $248,000.00 $248,000.00 BANK UNITED NA - 5 YEAR CD 066519RW1 1.35% 1.35% 12/8/2026 $248,000.00 $248,000.00 BANK HAPOALIM BM - 5 YEAR CD 06251A3K4 1.35% 1.35% 12/16/2026 $248,000.00 $248,000.00 CONNEXUS CREDIT UNION - 5 YEAR CD 20825WAR1 1.25% 1.25% 12/23/2026 $249,000.00 $249,000.00 AMERANT BANK - 5 YEAR CD 02357QAQ0 1.60% 1.60% 2/16/2027 $248,000.00 $248,000.00 PIMA CREDIT UNION- 4.5 YEAR CD 722000AA4 5.15% 5.15% 2/17/2027 $248,000.00 $248,000.00 METRO CREDIT UNION - 5 YEAR CD 59161YAP1 1.70% 1.70% 2/18/2027 $249,000.00 $249,000.00 BEAL BANK PLANO TEXAS - 5 YEAR CD 07371AZQ9 2.05% 2.05% 3/3/2027 $248,000.00 $248,000.00 BEAL BANK USA LAS VEGAS - 5 YEAR CD 07371CK81 2.05% 2.05% 3/3/2027 $248,000.00 $248,000.00 MORGAN STANLEY- 5 YEAR CD 61773TDN0 3.00% 3.00% 4/29/2027 $246,000.00 $246,000.00 GENERATION BANK ROGERS AR CD - 5 YEAR CD 37149CAV9 3.10% 3.10% 5/6/2027 $249,000.00 $249,000.00 DEPARTMENT OF COMMERCE - 5 YEAR CD 24951TAT2 3.25% 3.25% 5/13/2027 $249,000.00 $249,000.00 TRUSTONE FINL CR UN - 5 YEAR CD 89841MAF4 3.40% 3.40% 7/19/2027 $249,000.00 $249,000.00 BMO HARRIS BANK - 5 YEAR CD 05600XHE3 3.55% 3.55% 7/27/2027 $247,000.00 $247,000.00 THIRD FEDL S&L ASSN - 5 YEAR CD 88413QDM7 3.40% 3.40% 7/27/2027 $245,000.00 $245,000.00 CMNTY COMMERCE BANK CLAREMONT- 5 YEAR CD 20367GBH1 3.30% 3.30% 8/10/2027 $249,000.00 $249,000.00 ST VINCENT MED CTR CR - 5 YEAR CD 85279AAA0 3.50% 3.50% 8/12/2027 $249,000.00 $249,000.00 PITTSBURG CITY HALL FCU - 5 YEAR CD 72500MAA3 3.60% 3.60% 8/16/2027 $249,000.00 $249,000.00 SHARONVIEW FCU - 5 YEAR CD 819866BL7 3.50% 3.50% 8/16/2027 $249,000.00 $249,000.00 GHS FEDERAL CREDIT UNION - 5 YEAR CD 36266LAA4 3.80% 3.80% 9/15/2027 $249,000.00 $249,000.00 ROGUE CREDIT UNION - 5 YEAR CD 77535MAG8 5.20% 5.20% 12/23/2027 $249,000.00 $249,000.00 PACIFIC WESTERN BANK - 5 YEAR CD 69506YXD6 5.65% 5.65% 3/22/2028 $243,000.00 $243,000.00 NEW ORLEANS FIREMANS FCU - 5 YEAR CD 647608AH1 5.00% 5.00% 7/17/2028 $248,000.00 $248,000.00 NUMERICA CREDIT UNION - 5 YEAR CD 67054NBK8 5.10% 5.10% 7/31/2028 $248,000.00 $248,000.00 GREEN STATE CREDIT UNION- 5 YEAR CD 39573LEL8 5.00% 5.00% 8/29/2028 $248,000.00 $248,000.00 ALLIANT CREDIT UNION- 5 YEAR CD 01882MAH5 5.35% 5.35% 11/15/2028 $248,000.00 $248,000.00 $17,872,876.00
$47,268,235.07
$71,476,493.17
Amount % of Portfolio Amount % of Portfolio
$1,220,537.02 2% $ 45,064,812.90 64%
$8,708,824.85 12% $ 14,222,416.52 19%
$14,278,896.23 20% $ 12,189,263.75 17%
$5,743,961.77 8% $ 71,476,493.17 100%
$4,051,842.50 6%
$16,633,554.80 22% 1.12
$20,838,876.00 30% 3.90%
$71,476,493.17 100%
Michael O'Brien Administrative Services Director/City Treasurer Prepared by: Jennifer Legaspi
LOCAL AGENCY INVESTMENT FUND (LAIF)
TOTAL OF ALL INVESTMENTS
Weighted Average Maturity in Years
Weighted Average Yield
The above investments have met the requirements as stated in the City's Annual Investment Policy.
CALTRUST
GSE AGENCY BONDS
COMMERCIAL BONDS
U.S TREASURY BILLS
NEGOTIABLE CERTIFICATES OF DEPOSIT
Maturity Range
1 Day to 1 Yr.
1 Yr. to 3 Yrs.
3 Yrs. to 5 Yrs.
Total
INVESTMENTS BY TYPE INVESTMENTS BY MATURITY
CHECKING ACCOUNTS/CASH ON HAND
Type
TOTAL CD's/GSE BONDS/ CORPORATE BONDS/TREASURY BILLS
TOTAL OF ALL INVESTMENTS
STIFEL CD'S INVESTMENT SUBTOTAL:
Agenda Item Staff Report
To: Honorable Mayor and Members of City Council
For the Meeting of January 23, 2024
From: Chris Constantin, City Manager
Prepared by: Lily Flores, Housing Manager
Subject: Consideration and Approval of Resolution 2024-05 Approving Proposed FY 2024-25 CDBG Programs and Funding Budget
____________________________________________________________________________
SUMMARY
The Housing Division is proposing the program activities and funding for the Community Development Block Grant (CDBG) Program administered through the Los Angeles County Development Authority (LACDA) for FY 2024-25. This is a public hearing for the proposed programs and allocations.
RECOMMENDATION
Staff recommends that the City Council:
• Open the Public Hearing and take any comments.
• Close the Public Hearing.
• Adopt Resolution 2024-05 approving the proposed FY 2024-25 CDBG Programs and allocations as outlined.
• Authorize the City Manager or his designee to execute any and all documents necessary to further the projects herein, including but not limited to amendments and modifications thereto for CDBG projects with the Los Angeles County Development Authority (LACDA).
FISCAL IMPACT
Limited Staff time is expected but is dependent on the nature of the projects and programs considered. The potential financial impacts would be funded through the available Housing Authority funds already budgeted.
BACKGROUND
Proposed FY 2024-2025 CDBG Programs and Funding Budget Page 2 For the Meeting of January 23, 2024
Each year, the Department of Housing and Urban Development (HUD) provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by providing decent housing and a suitable living environment, principally for low – and moderate – income persons.
The City of San Dimas is a Participating City with the County of Los Angeles Urban Community Development Block Grant (CDBG) through the Los Angeles County Development Authority (LACDA) Cooperation Agreement. As a Participating City with LACDA, the City receives CDBG funding based on the number of cities participating in the County’s program, community development need, and a city’s commitment to provide housing and community development.
Projects must be implemented according to the 1974 Housing and Community Development Act and the National Affordable Housing Act passed by Congress in 1990. Consequently, our preparation for the FY 2024-25 program year will be regulated in a manner consistent with these laws.
Activities carried out with CDBG funds must address at least one of the three (3) national objectives of the CDBG program which include:
• Benefiting low- and moderate-income persons
• Aid in preventing neighborhood deterioration
• Meet other urgent community development needs due to natural disasters or other emergencies.
Activities may include, but are not limited to, public facilities and improvements, acquisition and relocation, public services, economic development, and housing improvement/rehabilitation programs. Applicable statutes and regulations place specific requirements on certain activities, such as limitation on the amount of CDBG funds which may be used for public services and planning and administration costs.
DISCUSSION/ANALYSIS
The City of San Dimas strives to maintain a safe, decent, and sanitary environment for all its residents. Therefore, the grant amount received by LACDA is spent on those eligible activities that will enhance the ability to achieve this goal, while benefiting low-and moderate-income persons. Currently, CDBG funds are allocated for the following programs:
Housing Rehabilitation Program – Continuing City Program The Housing Rehabilitation Program provides grants and deferred loans for the rehabilitation of qualified single-family residences throughout the City. Beneficiaries are low- and moderateincome owner-occupied units of single-family detached dwellings, condominiums/townhomes, and/or mobile homes. This project assists in eliminating unhealthy and unsafe conditions, including but not limited to asbestos, lead, mold, and related building and health code deficiencies. This program also provides support to City Code Compliance efforts to correct substandard housing conditions.
Program Administration
Program allowable funds, not to exceed 20% of the eligible program, can be used for activity delivery and management of that program. Fiscal Year 2024-25 will be the third year the City will
Proposed FY 2024-2025 CDBG Programs and Funding Budget Page 3 For the Meeting of January 23, 2024
contract with MGD Associates, Inc. as the consultant for program activity for the CDBG Housing Rehabilitation Program with the option to continue their contract for up to an additional three (3) program years if needed.
Youth Scholarship Program
The Youth Scholarship Program provides low- and moderate-income families with youth (ages 3- 17) residing in the City of San Dimas the opportunity to participate in various year-round programs and activities such as, summer camps, dance classes, sports activities, swim classes, field trips, amusement park fees, etc. This program assists low- and moderate-income families that cannot afford program fees by subsidizing the full amount of the program registration fees for each participant. This program was implemented by the City’s Parks and Recreation Department in partnership with the Housing Division Staff.
PROGRAM FY 2023-24 UPDATE
The FY 2023-24 CDBG Program started on July 1, 2023, and will continue through to June 30, 2024, with CDBG funds being administered with the two programs: Housing Rehabilitation Program and the Youth Scholarship Program.
The Housing Rehabilitation Program has a goal of assisting a minimum of ten (10) households with various housing rehabilitation project, such as plumbing and electrical repairs, re-roofs, HVAC, exterior paint, and window replacements. The program is widely supported by our residents. Staff is currently working on the waitlist that was closed in August of 2022 that consisted of 92 applicants of which three (3) SFR were assisted and (fifteen) 15 Mobile homes were assisted in FY 2022-023. To date we have sixteen (16) properties being serviced, potentially exhausting all the CDBG funds. In addition, for FY 2023-24 the Housing Authority budgeted $200,000 in the Home Rehab Fund for this program and will be utilized after the CDBG funds have been exhausted.
The Youth Scholarship Program has a goal of assisting fifty (50) youth for the program year. To date, thirteen (13) youth have been assisted with scholarships for the Kids Fun Club, basketball, swim lessons, swim team, soccer, webby dance, and shooting stars. Housing Staff worked with Parks & Recreation Staff to improve this program so that total funds could be utilized each fiscal year. The application process was simplified, and the scholarship amount was increased from $200 per child to $500 per child. The Youth Scholarship Program is still falling short with only twenty-eight percent (28%) of its annual allocation expended.
PROPOSED FY 2024-25 PROJECTS
The City of San Dimas will be receiving an estimated allocation of $155,942 for Fiscal Year 2024- 25 The proposed projects will continue to maintain the City’s affordable housing supply and will provide an Economic Development opportunity with a new activity designed to help downtown businesses with permanent improvements to their property in exchange for the business creating or retaining permanent jobs held by low- and moderate-income persons.
Proposed FY 2024-2025 CDBG Programs and Funding Budget Page 4 For the Meeting of January 23, 2024
FY 2024-2025 Proposed Projects
Program Budget
Approx % of
Budget
Est.
Accomplishments
Housing Rehabilitation $68,753 44% 10 Households
-Housing Consultant Program Activity Fees $17,189 11% Administrative Fee Economic Development - Business Attraction $70,000 45% 2 FTE Jobs Total 155,942 100%
ALTERNATIVES
No alternatives are recommended for this request.
ENVIRONMENTAL REVIEW
This item is not subject to environmental review under the California Environmental Quality Act (CEQA). Under CEQA guidelines Section 15378 (b)(5), continued administrative activities and organization activities that will not result in a direct or indirect physical change in the environment are not CEQA projects. Moreover, under CEQA guidelines CEQA guidelines Section 15784 (b)(4), government fiscal activities which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment are not CEQA projects.
Respectfully submitted,
Lily Flores
Housing Manager
Attachment:
1. Resolution 2024 -05 CDBG Program Year 2024-25 Proposed Programs
ATTACHMENT 1
RESOLUTION 2024-05
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN DIMAS,
COUNTY OF LOS ANGELES, AUTHORIZING THE ALLOCATION OF THE 2024 YEAR COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDS FOR FISCAL YEAR 2024-25
WHEREAS, the Community Development Block Grant (CDBG) Program has operated since 1974 to provide local governments the resources to meet the needs of persons of lowand moderate-income; and WHEREAS, the City of San Dimas contracts with the Los Angeles County Development Authority (LACDA) for the disbursement of Community Development Block Grant Funds; and WHEREAS, the City of San Dimas will receive an estimated total of $155,942 through the Community Development Block Grant Funds; and
WHEREAS, the City Council has conducted a public hearing, with the required prior noticing to provide the public an opportunity to comment on the programs proposed for the Fiscal Year 2024-25 Community Development Block Grant Funds Program.
NOW, THEREFORE, BE IT FURTHER RESOLVED that the City Council of the City of San Dimas does hereby resolve that:
SECTION 1. The City Council approves the Community Development Block Grant (CDBG) Program Budget for Fiscal Year 2024-25 and instructs Staff to submit the necessary document and a copy of this Declaration to the Los Angeles County Community Development Commission.
SECTION 2. The City Council authorizes City Staff, to execute documents as required by the program and to adjust the Program budget as necessary throughout the Fiscal Year. This includes, but is not limited to, allocating amounts on a per project basis, adjusting project budgets, implementing a new activity, or cancelling existing activities to allow for the timely expenditure of CDBG-funds.
PASSED, APPROVED AND ADOPTED this 23rd day of January, 2024. ____________________________________
Emmett G. Badar, Mayor
ATTEST:
_______________________________
Debra Black, City Clerk
Resolution 2024- 05 Page 2
Community Development Block Grant FY 2024-25
January 23, 2024
I, Debra Black, City Clerk, hereby certify that Resolution 2024-05 was adopted by the City Council of San Dimas at its regular meeting of January 23, 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
Debra Black, City Clerk