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Marketing Plan.
Boardmember questions and comments followed.
Treasurer Lee, Executive Director Grogan, Stadium Authority Counsel Googins and Jihad Beauchman (General Counsel, San Francisco 49ers), addressed Boardmember questions.
Jihad Beauchman (General Counsel, San Francisco 49ers) provided a Powerpoint presentation on the Santa Clara Stadium Authority Fiscal Year 2026/27 Budget.
Boardmember questions and comments followed.
Jihad Beauchman (General Counsel, San Francisco 49ers)
addressed Boardmember questions.
Executive Director Grogan and Stadium Authority Counsel Googins provided some remarks.
Public Comment: Ken Kratz
Board
discussion followed.
A motion was made by Boardmember Jain, seconded by
Boardmember Hardy, to (1) adopt the Santa Clara Stadium Authority Fiscal Year 2026/27 Operating, Debt Service, and Capital Budget; (2) with respect to the CapEx Plan: (a) Approve the Fiscal Year 2026/27 CapEx projects (Year One, and for items that have budget allocated in Year One and in a forecast expenditure in Year Two), of the Stadium Manager’s 5-Year Capital Expenditure Plan, including such Projects that are to be completed over Multiple Years; (b) do not approve at this time CapEx projects to be commenced after Fiscal Year 2026/27 (Years 2 through 5); and (c) upon completion of the Stadium Manager’s Facility Condition Assessment, Stadium Authority staff’s evaluation and completion of its own Facility Condition Assessment, and further discussions with Stadium Manager, return to the Stadium Authority Board with staff’s recommendation for Stadium Authority action on the CapEx program for Years 2 through 5; (3) note and file the 2026 Levi’s Stadium Marketing Plan; (4) authorize the Executive Director to amend the Agreement with Canyon Oaks Ventures, LLC to extend the term through December 31, 2026, and increase the not to exceed amount up to $130,000, as needed, to complete the described scope
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of work for a Stadium Non-NFL Event Marketing Plan Review and Market Trend Analysis; (5) adopt the Stadium Authority Board Budget Policy; and (6) adopt the Stadium Authority Board Compliance and Management Policy.
Aye:
Vice Chair Gonzalez, Boardmember Hardy, Boardmember Park, and Boardmember Jain
4 -
Nay: 2 - Boardmember Cox, and Chair Gillmor
Absent: 1 - Boardmember Chahal
A motion was made by Vice Mayor/Chair, seconded by
Council/Boardmember Hardy, to extend this meeting for one hour to 1:15 AM.
Aye:
Vice Mayor/Chair Gonzalez, Council/Boardmember Hardy, Council/Boardmember Park, Council/Boardmember Jain, and Council/Boardmember Cox 5 -
Absent: 1 - Council /Boardmember Chahal
Abstained: 1 - Mayor/Chair Gillmor
Mayor/Chair Gillmor left the meeting at 12:14 AM.
Vice Mayor/Chair Gonzalez called for a recess at 12:14 AM and reconvened the meeting at 12:23 AM.
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2.K 26-85 Action to Approve the Annual Military Equipment Report, and Adopt a Resolution Making Required Findings and Renewing Santa Clara City Code Section 2.80.080, Allowing for the Continued Use of the Military Equipment Funding, Acquisition and Use Policy Pursuant to Assembly Bill 481
Recommendation:
Approve the Annual Military Equipment Report and Adopt a Resolution Making Required Findings and Renewing Santa Clara City Code Section
2.80.080, Allowing for the Continued Use of the Military Equipment Funding, Acquisition and Use Policy Pursuant to Assembly Bill 481.
Public member Jay Ess pulled this item.
Chief of Police Morgan and Lieutenant Enos provided a verbal report.
Public Comment: Jay Ess
Ken Kratz
Lieutenant Enos provided some remarks.
Council questions and comments followed.
Chief of Police Morgan addressed Council questions.
A motion was made by Councilmember Hardy, seconded by
Councilmember Jain, to approve the Annual Military Equipment Report and adopt Resolution No. 26-9541 Making Required Findings and Renewing Santa Clara City Code Section 2.80.080, Allowing for the Continued Use of the Military Equipment Funding, Acquisition and Use Policy Pursuant to Assembly Bill 481.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Park, Councilmember Jain, and Councilmember Cox
5 -
Absent: Councilmember Chahal, and Mayor Gillmor2 -
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2.F 26-86 Action on a Resolution Accepting $6,525,617 CalOES Award from the Fiscal Year 2026 Counter Unmanned Aircraft System Grant Program, Authorize the City Manager or Designee to Negotiate and Execute Any and All Documents Required to Accept and Use the Award, and Approve the Related Budget Amendment
Recommendation:
1. Approve a Resolution Accepting $6,525,617 CalOES Award from the Fiscal Year 2026 Counter Unmanned Aircraft System Grant Program and Authorizing the City Manager or Designee to Negotiate and Execute Any and All Documents Required to Accept and Use the Award;
2. Authorize the City Manager or designee to negotiate and execute purchase orders for equipment and related services in support of the Counter Unmanned Aircraft System Program, consistent with the grant requirements, through the City’s established procurement processes or the California 1122 Public Safety Procurement Program, in an amount not to exceed $6,525,617, subject to the review and approval as to form by the City Attorney; and
3. Approve the FY 2025/26 budget amendment in the Police Operating Grant Trust Fund to recognize grant revenue in the amount of $6,525,617 and establish the 2026 Counter-Unmanned Aircraft Systems Grant Program appropriation in the amount of $6,525,617 (five affirmative Council votes required).
Public member Jay Ess pulled this item.
Chief of Police Morgan and Sergeant Deger provided a verbal report.
Council questions and comments followed.
Sergeant Deger addressed Council questions.
Public Comment: Jay Ess
Ken Kratz
Sergeant Deger provided some remarks.
Council questions and comments followed.
Chief of Police Morgan and Sergeant Deger addressed Council questions.
A motion was made by Councilmember Hardy, seconded by
Councilmember Jain, to (1) approve Resolution No. 26-9539 Accepting $6,525,617 CalOES Award from the Fiscal Year 2026 Counter Unmanned Aircraft System Grant Program and Authorizing
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the City Manager or Designee to Negotiate and Execute Any and All Documents Required to Accept and Use the Award; (2) authorize the City Manager or designee to negotiate and execute purchase orders for equipment and related services in support of the Counter Unmanned Aircraft System Program, consistent with the grant requirements, through the City’s established procurement processes or the California 1122 Public Safety Procurement Program, in an amount not to exceed $6,525,617, subject to the review and approval as to form by the City Attorney; and (3) approve the Fiscal Year 2025/26 budget amendment in the Police Operating Grant Trust Fund to recognize grant revenue in the amount of $6,525,617 and establish the 2026 Counter-Unmanned Aircraft Systems Grant Program appropriation in the amount of $6,525,617.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Park, Councilmember Jain, and Councilmember Cox
5 -
Absent: Councilmember Chahal, and Mayor Gillmor2 -
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2.H 26-96 Action on an Agreement with Peregrine Technologies, Inc. for a Data Integration Platform and Professional Services for a Not-to-Exceed Amount of $2,802,002 Over a Ten-Year Term and to Approve the Related Budget Amendment
Recommendation:
1. Authorize the City Manager or designee to negotiate and execute an agreement with Peregrine Technologies, Inc. (Agreement) for an enterprise Data Integration Platform and related professional services for an initial five-year term with a maximum amount not-to-exceed $1,179,689.98, subject to the appropriation of funds and approval of final form by the City Attorney;
2. Authorize the City Manager or designee to take any actions as necessary to implement and administer the Agreement, including (a) exercising up to five one-year options to extend the Agreement term, and (b) negotiating and executing amendment(s) to the Agreement to (i) increase the maximum compensation by up to $1,622,311.40 (inclusive of $254,727.40 contingency) for a total aggregate not-to-exceed amount of $2,802,001.38 over the full ten-year term, (ii) add or delete services consistent with the scope of services, and (iii) make de minimis changes, subject to the appropriation of funds and approval as to form by the City Attorney; and
3. Approve the FY 2025/26 Budget Amendment in the General Fund to increase the Police Department budget in the amount of $244,420 and decrease the Budget Stabilization Reserve in the amount of $244,420 (five affirmative Council votes required for the use of unused balances).
Public member Jay Ess pulled this item.
Chief of Police Morgan and Sergeant Lutz provided a verbal report.
Council questions and comments followed.
Sergeant Lutz and Andrew Riley (Regional Sales Manager, Peregrine Technologies) addressed Council questions.
Public Comment: Jay Ess
Ken Kratz
Council discussion followed.
Josh Medel (Solutions Engineer, Peregrine Technologies) and Chief of Police Morgan addressed Council questions.
A motion was made by Councilmember Hardy, seconded by
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Councilmember Jain, to continue this item to the next meeting. The motion was withdrawn.
A substitute motion was made by Councilmember Park to authorize the City Manager or designee to negotiate and execute an agreement with Peregrine Technologies, Inc. (Agreement) for an enterprise Data Integration Platform and related professional services for an initial one-year term, with a report to Council after FIFA World Cup. The motion failed due to lack of a second.
Council discussion followed.
A motion was made by Councilmember Jain, seconded by
Councilmember Hardy, to (1) authorize the City Manager or designee to negotiate and execute an agreement with Peregrine Technologies, Inc. (Agreement) for an enterprise Data Integration Platform and related professional services for an initial five-year term with a maximum amount not-to-exceed $1,179,689.98, subject to the appropriation of funds and approval of final form by the City Attorney; (2) authorize the City Manager or designee to take any actions as necessary to implement and administer the Agreement, including (a) exercising up to five one-year options to extend the Agreement term, and (b) negotiating and executing amendment(s) to the Agreement to (i) increase the maximum compensation by up to $1,622,311.40 (inclusive of $254,727.40 contingency) for a total aggregate not-to-exceed amount of $2,802,001.38 over the full ten-year term, (ii) add or delete services consistent with the scope of services, and (iii) make de minimis changes, subject to the appropriation of funds and approval as to form by the City Attorney; (3)
approve the Fiscal Year 2025/26 Budget Amendment in the General Fund to increase the Police Department budget in the amount of $244,420 and decrease the Budget Stabilization Reserve in the amount of $244,420; and (4) direct staff to return to Council with a report before the end of the first year.
The motion failed.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Jain, and Councilmember Cox
4 -
Nay: Councilmember Park1 -
Absent: Councilmember Chahal, and Mayor Gillmor2 -
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4. 26-16330 Action to Adopt the Vision Zero Action Plan and Approve a Recommendation for a New Position in the Department of Public Works to Support Vision Zero Plan Implementation
Recommendation:
Take action to approve Alternatives 1, 3, and 4 as presented in staff’s report as follows:
1. Adopt a resolution to approve the Vision Zero Action Plan in substantially the form presented.
3. Authorize the City Manager to take any and all actions necessary to modify, edit, update, and maintain the Vision Zero Action Plan, and to implement elements of the Plan that do not require Council approval.
4. Approve the addition of 1.0 Senior Civil Engineer position in the Department of Public Works to begin implementation of the Vision Zero Program.
Senior Engineer He provided a Powerpoint presentation on Action to Adopt the Vision Zero Action Plan and Approve a Recommendation for a New Position in the Department of Public Works to Support Vision Zero Plan Implementation.
Council questions followed.
Senior Engineer He and City Manager Grogan addressed Council questions.
Public Comment: Betsy Megas
Ken Kratz
Council discussion followed.
Director of Public Works Mobeck and City Manager Grogan addressed Council questions.
A motion was made by Councilmember Hardy, seconded by
Councilmember Jain, to (1) adopt a Resolution to approve the Vision Zero Action Plan in substantially the form presented; (2) authorize the City Manager to take any and all actions necessary to modify, edit, update, and maintain the Vision Zero Action Plan, and to implement elements of the Plan that do not require Council approval; and (3) approve the addition of 1.0 Senior Civil Engineer position in the Department of Public Works to begin implementation of the Vision Zero Program.
The motion failed.
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Aye: Vice Mayor Gonzalez, Councilmember Hardy, and Councilmember Jain
3 -
Nay: Councilmember Park1 -
Absent: Councilmember Chahal, Councilmember Cox, and Mayor Gillmor3 - A motion was made by Councilmember Hardy, seconded by
Councilmember Jain, to (1) adopt Resolution No. 26-9542 to approve the Vision Zero Action Plan in substantially the form presented; and (2) authorize the City Manager to take any and all actions necessary to modify, edit, update, and maintain the Vision Zero Action Plan, and to implement elements of the Plan that do not require Council approval.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Park, and Councilmember Jain
4 -
Absent: Councilmember Chahal, Councilmember Cox, and Mayor Gillmor3 -
3.A 26-56 Action on the Santa Clara Stadium Authority Financial Status Report for Quarter Ending December 31, 2025 and Approve Related Budget Amendments
Recommendation:
1. Note and file the Santa Clara Stadium Authority Financial Status Report for the Quarter Ending December 31, 2025; and
2. Approve the FY 2025/26 Budget Amendments in the Operating Budget in the aggregate amount of $5,239,000 to reflect changes in projected revenues and expenses, and amendments to the Capital Budget in the aggregate amount of $2,000 to increase and reallocate project expenses, offset by a reduction in Ending Fund Balance, all as more specifically provided in Attachment 2.
A motion was made by Boardmember Jain, seconded by
Boardmember Hardy, to (1) note and file the Santa Clara Stadium Authority Financial Status Report for the Quarter Ending December 31, 2025; and (2) approve the Fiscal Year 2025/26 Budget Amendments in the Operating Budget in the aggregate amount of $5,239,000 to reflect changes in projected revenues and expenses, and amendments to the Capital Budget in the aggregate amount of $2,000 to increase and reallocate project expenses, offset by a reduction in Ending Fund Balance.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Park, and Councilmember Jain
4 -
Absent: Councilmember Chahal, Councilmember Cox, and Mayor Gillmor3 -
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6. 26-120 Public Hearing: Action to Terminate Two Historic Property Preservation Agreements (Mills Act Contracts) at 1711 Main Street and 906 Monroe Street / 1341 Homestead Road (CONTINUED FROM JANUARY 27, 2026) Recommendation:
Hold the public hearings, consider all testimony presented and, based upon the evidence presented:
1. Terminate the Mills Act Contract for the property located at 1711 Main Street due to violation of Sections 3(c) and 4(a) of the Agreement, effective immediately;
2. Terminate the Mills Act Contract for the property located at 906 Monroe Street / 1341 Homestead Road due to violation of Sections 3(c) and 4(a) of the Agreement, effective immediately; and
3. Direct the Community Development Director to inform the affected property owners and the County and take all other actions necessary to implement the terminations.
This item was continued to a meeting date uncertain.
REPORTS OF MEMBERS, SPECIAL COMMITTEES AND COUNCILMEMBER 030 REQUESTS None.
CITY MANAGER/EXECUTIVE DIRECTOR REPORT
ADJOURNMENT
26-298
None.
The meeting was adjourned at 2:47 AM on March 11, 2026 in memory of Marilyn Jo Petersen.
Adjournment Post Meeting Material
The next regular scheduled meeting is on Tuesday, March 24, 2026 in the City Hall Council Chambers.
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MEETING DISCLOSURES
The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Santa Clara, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.
STREAMING SERVICES: As always, the public may view the meetings on SantaClaraCA.gov, Santa Clara City Television (Comcast cable channel 15), or the livestream on the City’s YouTube channel or Facebook page.
Note: The public cannot participate in the meeting through these livestreaming methods; livestreaming capabilities may be disrupted at times, viewers may always view and participate in meetings in-person and via Zoom as noted on the agenda.
AB23 ANNOUNCEMENT: Members of the Santa Clara Stadium Authority, Sports and Open Space Authority and Housing Authority are entitled to receive $30 for each attended meeting.
Note: The City Council and its associated Authorities meet as separate agencies but in a concurrent manner. Actions taken should be considered actions of only the identified policy body.
LEGEND: City Council (CC); Stadium Authority (SA); Sports and Open Space Authority (SOSA); Housing Authority (HA); Successor Agency to the City of Santa Clara Redevelopment Agency (SARDA); Bayshore North Project Enhancement Authority (BNPEA); Public Facilities Financing Corporation (PFFC)
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] <mailto:[email protected]> or at the public information desk at any City of Santa Clara public library.
If a member of the public submits a speaker card for any agenda items, their name will appear in the Minutes. If no speaker card is submitted, the Minutes will reflect "Public Speaker."
In accordance with the requirements of Title II of the Americans with Disabilities Act of 1990 ("ADA"), the City of Santa Clara will not discriminate against qualified individuals with disabilities on the basis of disability in its services, programs, or activities, and will ensure that all existing facilities will be made accessible to the maximum extent feasible. The City of Santa Clara will generally, upon request, provide appropriate aids and services leading to effective communication for qualified persons with disabilities including those with speech, hearing, or vision impairments so they can participate equally in the City’s programs, services, and activities. The City of Santa Clara will make all reasonable modifications to policies and programs to ensure that people with disabilities have an equal opportunity to enjoy all of its programs, services, and activities.
Agendas and other
written materials distributed during a public meeting that are public record will be made available by the City in an appropriate alternative format. Contact the City Clerk’s Office at 1 408-615-2220 with your request for an alternative format copy of the agenda or other written materials.
Individuals who require an auxiliary aid or service for effective communication, or any other disability-related modification of policies or procedures, or other accommodation, in order to participate in a program, service, or activity of the City of Santa Clara, should contact the City’s ADA Coordinator at 408-615-3000 as soon as possible but no later than 48 hours before the scheduled event.
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5:30 PM Hybrid Meeting
City Hall Council Chambers/Virtual
1500 Warburton Avenue
Santa Clara, CA 95050
03/24/2026
City of Santa Clara
Meeting Minutes of the
Joint City Council and Authorities Concurrent &
Santa Clara Stadium Authority Board
Draft
The City of Santa Clara is conducting City Council meetings in a hybrid manner (in-person and continues to have methods for the public to participate remotely). • Via Zoom:
o https://santaclaraca.zoom.us/j/99706759306
Meeting ID: 997-0675-9306
o Phone 1(669) 900-6833
How to Submit Written Public Comment Before City Council Meeting:
1. Use the eComment tab located on the City Council Agenda page https://santaclara.legistar.com/Calendar.aspx). eComments are directly sent to the iLegislate application used by City Council and staff, and become part of the public record. eComment closes 15 minutes before the start of a meeting.
2. By email to [email protected] by 12 p.m. the day of the meeting. Those emails will be forwarded to the Council and will be uploaded to the City Council Agenda as supplemental meeting material. Emails received after the 12 p.m. cutoff time up through the end of the meeting will form part of the meeting record. Please identify the Agenda Item Number in the subject line of your email.
NOTE: Please note eComments and Emails received as public comment will not be read aloud during the meeting.
Agendas, Staff Reports and some associated documents for City Council items may be viewed on the Internet at https://santaclara.legistar.com/Calendar.aspx All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the legislative body will be available for public inspection at the Office of the City Clerk at Santa Clara City Hall, 1500 Warburton Avenue, Santa Clara, CA 95050 at the same time that the public records are distributed or made available to the legislative body. Any draft contracts, ordinances and resolutions posted on the Internet site or distributed in advance of the Council meeting may not be the final documents approved by the City Council. For the final document, you may contact the Office of the City Clerk at (408) 615-2220 or [email protected].
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5:30 PM CLOSED SESSION
Call to Order in the Council Chambers
Mayor Gillmor called the Closed Session to order at 5:37 PM.
Confirmation of Quorum
1.A 26-266
1.B 26-319
Assistant City Clerk Pimentel confirmed a quorum.
Conference with Legal Counsel-Existing Litigation
Pursuant to Gov. Code § 54956.9(d)(1)
Name of case: City of Santa Clara v. Bogard Construction, Inc., et al; Santa Clara County Superior Court case number 23CV424421
Conference with Legal Counsel-Existing Litigation
Pursuant to Gov. Code § 54956.9(d)(1)
Name of case: City of Santa Clara v. 891 Laurelwood LLC; Santa Clara County Superior Court case number: 25CV472883
Conference with Real Property Negotiators
Pursuant to Gov. Code § 54956.8
Property: 891 Laurelwood, Santa Clara, CA 95054 (APN 101-11-004) City Negotiator: Jovan Grogan, City Manager (or designee) Negotiating Parties: 891 Laurelwood LLC and South Bay Windows, Inc Under Negotiation: Purchase of Real Property Interests (provisions, price and terms of payment)
Public Comment
None.
Convene to Closed Session (Sparacino Conference Room)
Mayor Gillmor adjourned into Closed Session at 5:40 PM. 7:00 PM JOINT CITY COUNCIL/STADIUM AUTHORITY BOARD MEETING Call to Order in the Council Chambers
Mayor/Chair Gillmor called the regular meeting to order at 7:06 PM.
Closed Session - 5:30 PM | Regular Meeting - 7:00 PM
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Pledge of Allegiance and Statement of Values
Council/Board recited the Pledge of Allegiance.
Council/Boardmember Cox recited the Statement of Values.
Roll Call
Assistant City Clerk/Secretary Pimentel recited the AB23 announcement and Statement of Behavioral Standards.
Assistant City Clerk/Secretary Pimentel also noted that any registered Lobbyist speaking during the Public Meeting will need to identify themselves and whom they represent.
Vice Mayor/Chair Albert Gonzalez, Council/Boardmember Raj Chahal, Council/Boardmember Karen Hardy, Council/Boardmember Kevin Park, Council/Boardmember Suds Jain, Council/Boardmember Kelly Cox, and Mayor/Chair Lisa M. Gillmor
Present: 7 -
REPORTS OF ACTION TAKEN IN CLOSED SESSION MATTERS
City Attorney Googins reported that there was no reportable action from Closed Session.
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CONTINUANCES/EXCEPTIONS/RECONSIDERATIONS
A motion was made by Councilmember Hardy, seconded by Vice Mayor Gonzalez, to reconsider Item 2.H from the March 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting regarding an agreement with Peregrine Technologies.
Public Comment: Jay Ess
Council questions and comments followed.
City Attorney Googins and City Manager Grogan addressed Council questions.
Council discussion followed.
A substitute motion was made by Councilmember Park, seconded by Councilmember Jain, to continue the reconsideration of Item 2.H from the March 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting regarding an agreement with Peregrine Technologies until Governance & Ethics Committee resolve issues regarding
prevailing party, severability, quorum, etc.
Public Comment: Jay Ess
Public Speaker
Manny
Howard Gibbins
To consider the substitute motion.
Aye: Councilmember Chahal, Councilmember Park, and Councilmember Jain
3 -
Nay: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Cox, and Mayor Gillmor
4 -
The motion failed.
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Public Comment: Jay Ess
Public Speaker
Manny
Howard Gibbins
Council discussion followed.
Councilmember Park left the dias at 7:56 PM.
A motion was made by Councilmember Hardy, seconded by Vice Mayor Gonzalez, to reconsider Item 2.H from the March 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting regarding an agreement with Peregrine Technologies at the April 7, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting.
Aye: Vice Mayor Gonzalez, Councilmember Hardy, Councilmember Cox, and Mayor Gillmor
4 -
Nay: 2 - Councilmember Chahal, and Councilmember Jain
Absent: 1 - Councilmember Park
Councilmember Park returned to the dias at 7:57 PM.
Jeremy Barousse requested that Item 8 be moved up on tonight's agenda.
A motion was made by Councilmember Jain, seconded by
Councilmember Park, take up agenda items in the following order:
Items 6, 7, 8, and then 5.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
SPECIAL ORDER OF BUSINESS
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2.A 26-247
2.B 26-248
CONSENT CALENDAR
Proclamation of March 2026 as Red Cross Month
Mayor Gillmor, on behalf of the Council, proclaimed March 2026 as Red Cross Month.
Reagan Lund (Executive Director, Red Cross) accepted the proclamation and provided some remarks.
Council comments followed.
Recognition of the Silicon Valley Lunar New Year Together Committee in honor of the Silicon Valley New Year Together Celebration Mayor Gillmor, on behalf of the Council, recognized the Silicon Valley Lunar New Year Together Committee in honor of the Silicon Valley Near Year Together Celebration.
Diana Ding (CEO, Ding Ding TV) accepted the proclamation and provided some remarks.
Council/Boardmember Cox pulled Items 4.C and 4.D.
A motion was made by Council/Boardmember Hardy, seconded by Council/Boardmember Chahal, to approve the balance of the Consent Calendar (except Items 4.C and 4.D).
Aye: Vice Mayor/Chair Gonzalez, Council/Boardmember Chahal, Council/ Boardmember Hardy, Council/Boardmember Park, Council/Boardmember Jain, Council/Boardmember Cox, and Mayor/Chair Gillmor
7 -
3.A 26-312 Action on the February 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting and February 24, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting Minutes
Recommendation:
Approve the February 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting and February 24, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting Minutes.
A motion was made by Council/Boardmember Hardy, seconded by Council/Boardmember Chahal, to approve the February 10, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting and February 24, 2026 Joint City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting Minutes.
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Aye: Vice Mayor/Chair Gonzalez, Council/Boardmember Chahal, Council/ Boardmember Hardy, Council/Boardmember Park, Council/Boardmember Jain, Council/Boardmember Cox, and Mayor/Chair Gillmor
7 -
3.B 26-6 Board, Commissions and Committee Minutes
Recommendation: Note and file the Minutes of:
City-School Liaison Committee Meeting - November 12, 2025 Planning Commission - February 11, 2026
Historical and Landmarks Commission - December 4, 2025
Neighborhood University Relations Committee - October 20, 2025 Downtown Community Task Force - October 16, 2025
Bicycle and Pedestrian Advisory Committee - October 27, 2025 A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to note and file the Minutes of: City-School Liaison Committee Meeting - November 12, 2025, Planning Commission - February 11, 2026, Historical and Landmarks Commission - December 4, 2025, Neighborhood University
Relations Committee - October 20, 2025, Downtown Community Task Force - October 16, 2025, and Bicycle and Pedestrian Advisory Committee - October 27, 2025.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
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3.C 26-283 Action on Monthly Financial Status and Investment Reports for January 2026 and Approval of the Related Budget Amendments
Recommendation: 1. Note and file the Monthly Financial Status Report and Monthly Investment Report for January 2026 as presented; and
2. Approve
the Fiscal Year 2025/26 budget amendments in the following funds (as detailed in the Fiscal Impact section of the staff report and Attachment 3 of the staff report):
a. In the General Fund, increase the Other Revenue estimate and the Non-Departmental budget for the “Mission Meets the Moment” campaign, with a net impact of $25,000;
b. In the Expendable Trust Fund, increase the Other Agencies Revenue estimate and the Silicon Valley Animal Control Authority appropriations for the Information Technology and Public Works Departments, with a net impact of $45,000; and
c. In the Fire Operating Grant Trust Fund, increase the Other Agencies Revenue Estimate and the USAR Training Reimbursement
appropriation, with a net impact of $3,520.
Five affirmative Council votes required to allocate additional revenue
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) note and file the Monthly Financial Status Report and Monthly Investment Report for January 2026 as presented; and (2) approve the Fiscal Year 2025/26 budget amendments in the following funds: (a) in the General Fund, increase the Other Revenue estimate and the Non-Departmental budget for the “Mission Meets the Moment” campaign, with a net impact of $25,000; (b) in the Expendable Trust Fund, increase the Other Agencies Revenue estimate and the Silicon Valley Animal Control Authority appropriations for the Information Technology and Public Works Departments, with a net impact of $45,000; and (c) in the Fire Operating Grant Trust Fund, increase the Other Agencies Revenue Estimate and the USAR Training Reimbursement
appropriation, with a net impact of $3,520.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.D 26-138 Action on the City of Santa Clara Federally Funded Grants’ Single Audit Report for Fiscal Year Ended June 30, 2025
Recommendation: Note and file the City of Santa Clara Single Audit Report for the year ended June 30, 2025, as recommended by the City Council Audit Committee.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to note and file the City of Santa Clara Single Audit Report for the year ended June 30, 2025, as recommended by the Audit Committee.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.E 26-218 Action to Authorize the City Manager to Negotiate and Execute an Agreement with Anixter Inc. for the Purchase of High-Voltage Circuit Breakers for Silicon Valley Power, for a Total Not-to-Exceed Compensation of $20,842,000 and Approve Related Budget Amendments Recommendation:
1. Authorize the City Manager or designee to negotiate and execute an agreement with Anixter, Inc. (Agreement) for the purchase of high-voltage circuit breakers, for approximately a three-year agreement term, plus a five-year warranty period, with a maximum compensation of $20,842,000, subject to the appropriation of funds and the review and approval as to form by the City Attorney;
2. Authorize the City Manager or designee to (a) take any actions as necessary to implement and administer the Agreement and associated purchase orders, and (b) negotiate and execute amendments to the Agreement for (i) additional circuit breaker procurements; (ii) address issues during the design and fabrication of the circuit breakers, and (iii) make de minimis changes, subject to the maximum compensation set forth above and the review and approval as to form by the City Attorney; and
3. Approve the following FY 2025/26 budget amendments:
a. In the Electric Utility Fund, increase the transfer to the Electric Utility Capital Fund and reduce the Operations and Maintenance Reserve Ending Fund Balance by $20,842,000 (five affirmative City Council votes required for the use of unused balances); and b. In the Electric Utility Capital Fund, increase the transfer from the Electric Utility Fund and establish the NRS 80kA Breakers Replacement Project in the amount of $20,842,000 (five
affirmative City Council votes required to appropriate
additional revenue).
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) authorize the City Manager or designee to negotiate and execute an agreement with Anixter, Inc. (Agreement) for the purchase of high-voltage circuit breakers, for approximately a three-year agreement term, plus a five-year warranty period, with a maximum compensation of $20,842,000, subject to the appropriation of funds and the review and approval as to form by the City Attorney; (2) authorize the City Manager or designee to (a) take any actions as necessary to implement and administer the Agreement and associated purchase orders, and (b) negotiate and execute amendments to the Agreement for (i) additional circuit breaker procurements; (ii) address issues during the design and fabrication of the circuit breakers, and (iii) make de minimis changes, subject to the maximum compensation set forth above and the review and approval as to form by the City Attorney;
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and (3) approve the following FY 2025/26 budget amendments: (a) in the Electric Utility Fund, increase the transfer to the Electric Utility Capital Fund and reduce the Operations and Maintenance Reserve Ending Fund Balance by $20,842,000; and (b) in the Electric Utility Capital Fund, increase the transfer from the Electric Utility Fund and establish the NRS 80kA Breakers Replacement Project in the amount of $20,842,000.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.F 26-17110
Action on the Proposed Standstill Agreement for the Santana Terrace Apartments with Alpha Z San Jose Apt 1, LLC, Located at 190 N.
Winchester Boulevard to Extend the Time for Refinance Lenders to Comply with Affordability Covenants Consistent with Fannie Mae/Freddie Mac Loan Requirements
Recommendation:
Approve and authorize the City Manager to execute the Standstill Agreement for the Santana Terrace Project on the terms presented in a final form approved by the City Attorney.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to approve and authorize the City Manager to execute the Standstill Agreement for the Santana Terrace Project on the terms presented in a final form approved by the City Attorney.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.G 26-199 Action to Authorize the City Manager to Negotiate and Execute Amendments to the Agreement with Intertek USA, Inc., to Provide Non-Destructive Examination, Consulting, and Engineering Services for Silicon Valley Power, for a Total Not-to-Exceed Compensation of $1,050,000
Recommendation:
1. Determine that the proposed action is exempt from CEQA pursuant to Section 15303 (Class 1 - Existing Facilities) of Title 14 of the California Code of Regulations; and
2. Authorize the City Manager or designee to (a) negotiate and execute amendments to the agreement with Intertek USA, Inc. (Agreement) for non-destructive examination, consulting, and engineering services for Silicon Valley Power to: (i) increase the maximum compensation to $1,050,000; (ii) add or delete services associated with the services; (iii) adjust rates in accordance with the Agreement’s rate adjustment provisions; and (iv) make de minimis changes; and (b) take any actions as necessary to implement and administer the Agreement, subject to the appropriation of funds and the review and approval as to form by the City Attorney.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) determine that the proposed action is exempt from CEQA pursuant to Section 15303 (Class 1 - Existing Facilities) of Title 14 of the California Code of Regulations; and (2) authorize the City Manager or designee to (a) negotiate and execute amendments to the agreement with Intertek USA, Inc. (Agreement) for non-destructive examination, consulting, and engineering services for Silicon Valley Power to: (i) increase the maximum compensation to $1,050,000; (ii) add or delete services associated with the services; (iii) adjust rates in accordance with the Agreement’s rate adjustment provisions; and (iv) make de minimis changes; and (b) take any actions as necessary to implement and administer the Agreement, subject to the appropriation of funds and the review and approval as to form by the City Attorney.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.H 26-15110 Action to Authorize the City Manager to Negotiate and Execute Amendments to the Agreement with KONE, Inc. for Citywide Elevator Maintenance and Repair Services to Increase the Total Not-to-Exceed Maximum Compensation to $1,148,452, Inclusive of All Option Years Recommendation:
1. Determine that the proposed actions are exempt from CEQA pursuant to Section 15301 (Existing Facilities) of Title 14 of California Code of Regulations;
2. Authorize the City Manager or designee to execute amendments to the agreement with KONE, Inc. for citywide elevator maintenance and repair services, to increase the maximum compensation up to $1,148,452, subject to the appropriation of funds and final review and approval as to form by the City Attorney; and
3. Authorize the City Manager or designee to take any actions necessary to implement and administer the agreement with KONE, Inc., including exercising up to five one-year options in accordance with the agreement through February 28, 2031, and to negotiate and execute future amendment(s) to (a) add or delete City facilities and/or related services, (b) adjust rates consistent with market conditions, and (c) make de minimis changes, subject to the above maximum
compensation limit and final review and approval as to form by the City Attorney.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) determine that the proposed actions are exempt from CEQA pursuant to Section 15301 (Existing Facilities) of Title 14 of California Code of Regulations; (2) authorize the City Manager or designee to execute amendments to the agreement with KONE, Inc. for citywide elevator maintenance and repair services, to increase the maximum compensation up to $1,148,452, subject to the appropriation of funds and final review and approval as to form by the City Attorney; and (3) authorize the City Manager or designee to take any actions necessary to implement and administer the agreement with KONE, Inc., including exercising up to five one-year options in accordance with the agreement through February 28, 2031, and to negotiate and execute future amendment(s) to: (a) add or delete City facilities and/or related services, (b) adjust rates consistent with market conditions, and (c) make de minimis changes, subject to the above maximum compensation limit and final review and approval as to form by the City Attorney.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.I 26-113 Action to Authorize the City Manager to Execute Amendment No. 2 to the Software License and Support Agreement with Siemens Industry Inc., for the EnergyIP Meter Data Management System for a Total Not-to-Exceed Compensation of $1,543,419, and Ratify Previous Payments Exceeding City Council Authorization
Recommendation:
1. Authorize the City Manager or designee to execute Amendment No. 2 to the Software License and Support Agreement (SLMA) with Siemens Industries, Inc., for the EnergyIP Meter Data Management System, for a maximum compensation amount of $1,543,419, for the period from August 18, 2009, to June 30, 2030, subject to budget appropriations and the review and approval as to form by the City Attorney;
2. Ratify previous expenditures made under the SLMA in an amount of $777,553 for the period from August 18, 2009, through June 30, 2025; and
3. Authorize the City Manager or designee to take any actions necessary to implement and administer the SLMA, and negotiate and execute future amendment(s) to (a) add or delete services associated with the services, (b) adjust future rates consistent with market conditions, and (c) make de minimis changes, subject to budget appropriations and the review and approval as to form by the City Attorney.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) authorize the City Manager or designee to execute Amendment No. 2 to the Software License and Support Agreement (SLMA) with Siemens Industries, Inc., for the EnergyIP Meter Data Management System, for a maximum
compensation amount of $1,543,419, for the period from August 18, 2009, to June 30, 2030, subject to budget appropriations and the review and approval as to form by the City Attorney; (2) ratify previous expenditures made under the SLMA in an amount of $777,553 for the period from August 18, 2009, through June 30, 2025; and (3) authorize the City Manager or designee to take any actions necessary to implement and administer the SLMA, and negotiate and execute future amendment(s) to: (a) add or delete services associated with the services, (b) adjust future rates consistent with market conditions, and (c) make de minimis changes, subject to budget appropriations and the review and approval as to form by the City Attorney.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.J 26-208 Action to Authorize the City Manager to Execute Amendment No. 2 to the Agreement with Z'Onion Creative Group LLC to Provide Marketing and Communications Services, for a Total Not-to-Exceed Compensation of $560,000
Recommendation:
1. Authorize the City Manager or designee to execute Amendment No. 2 to the Agreement with Z’Onion Creative Group LLC (Agreement) to increase the maximum compensation by $310,000 for marketing and communication services, for a revised not-to-exceed maximum compensation amount of $560,000, subject to the appropriation of funds; and
2. Authorize the City Manager or designee to take all actions necessary to implement and administer the Agreement, including negotiating and executing future amendments to (i) add or delete related line item services; (ii) implement rate adjustments on the terms provided in Exhibit B, and (iii) make de minimis changes, provided that the total not-to-exceed maximum compensation is not exceeded, subject to the appropriation of funds and review and approval as to form by the City Attorney.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) authorize the City Manager or designee to execute Amendment No. 2 to the Agreement with Z’Onion Creative Group LLC (Agreement) to increase the maximum compensation by $310,000 for marketing and communication services, for a revised not-to-exceed maximum compensation amount of $560,000, subject to the appropriation of funds; and (2) authorize the City Manager or designee to take all actions necessary to implement and administer the Agreement, including negotiating and executing future amendments to (i) add or delete related line item services; (ii) implement rate adjustments on the terms provided in Exhibit B, and (iii) make de minimis changes, provided that the total not-to-exceed maximum compensation is not exceeded, subject to the appropriation of funds and review and approval as to form by the City Attorney.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.K 26-134 Action on the 2025 General Plan Annual Progress Report (APR) Recommendation: Accept the General Plan Annual Progress Report as presented by staff for submittal to the California Department of Housing and Community Development (HCD).
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to accept the General Plan Annual Progress Report as presented by staff for submittal to the California Department of Housing and Community Development (HCD).
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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3.L 26-170
Action to Authorize the Use of City Electric Forces for New Dark Fiber Installations From 5453 Great America Parkway to 5200 Patrick Henry Drive to 2895 Northwestern Parkway, With an Estimated Cost of $9,741 Recommendation:
1. Determine the proposed action is exempt from CEQA pursuant to Section 15303 (Class 3 - New Facilities) of Title 14 of the California Code of Regulations; and
2. Declare and
determine in accordance with Section 1310 of the City
Charter that the public works with an estimated cost of $9,741, located from 5453 Great America Parkway to 5200 Patrick Henry Drive to 2895 Northwestern Parkway, is better performed by the City with its own employees based on the information set forth in this Report to Council and authorize the performance of this public work consistent with this authorization.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) determine the proposed action is exempt from CEQA pursuant to Section 15303 (Class 3 - New Facilities) of Title 14 of the California Code of Regulations; and (2) declare and determine in accordance with Section 1310 of the City Charter that the public works with an estimated cost of $9,741, located from 5453 Great America Parkway to 5200 Patrick Henry Drive to 2895 Northwestern Parkway, is better performed by the City with its own employees and authorize the performance of this public work consistent with this authorization.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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SANTA CLARA STADIUM AUTHORITY BOARD CONSENT CALENDAR
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4.A 26-232 Action on an Amendment No.1 to the Agreement with Advanced Integrated Pest Management for Pest Control Services at Levi’s Stadium to Extend the Term by One Year, Increase the Total Agreement Amount by $82,500, Update the Compensation and Fee Schedule, and Delegate Authority to the Executive Director for Future Amendments
Recommendation:
1. Approve and authorize the Stadium Manager to execute an Amendment No. 1 to the Agreement with Advanced Integrated Pest Management for pest control services at Levi’s Stadium to increase the maximum compensation by $82,500 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to reflect Exhibit B-2.
2. Authorize the Executive Director to approve future amendments to the Agreement with Advanced Integrated Pest Management to: (a) exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $86,625 to cover services from April 1, 2027 to March 31, 2028, adjust the compensation to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, and (b) increase the total not-to-exceed amount by up to an additional $25,000 as contingency for unanticipated services, which may be utilized during the fourth or fifth contract years, all subject to the same basic terms and conditions and budget appropriations.
3. Authorize the Executive Director to approve future amendment to the Agreement with Advanced Integrated Pest Management, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the not-to-exceed amount by $45,478 to cover up to six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations.
4. The total not-to-exceed maximum compensation for the Agreement with Advanced Integrated Pest Management, inclusive of contingency and all contract years, shall not exceed $489,603.
A motion was made by Boardmember Hardy, seconded by
Boardmember Chahal, to (1) approve and authorize the Stadium Manager to execute an Amendment No. 1 to the Agreement with Advanced Integrated Pest Management for pest control services at Levi’s Stadium to increase the maximum compensation by $82,500 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to reflect Exhibit B-2; (2) authorize the Executive Director to approve future amendments to the Agreement with Advanced Integrated Pest Management to: (a)
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exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $86,625 to cover services from April 1, 2027 to March 31, 2028, adjust the compensation to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, and (b) increase the total not-to-exceed amount by up to an additional $25,000 as
contingency for unanticipated services, which may be utilized during the fourth or fifth contract years, all subject to the same basic terms and conditions and budget appropriations; (3) authorize the Executive Director to approve future amendment to the Agreement with Advanced Integrated Pest Management, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the not-to-exceed amount by $45,478 to cover up to six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and (4) the total not-to-exceed maximum compensation for the Agreement with Advanced Integrated Pest Management, inclusive of contingency and all contract years, shall not exceed $489,603.
Aye:
Vice Chair Gonzalez, Boardmember Chahal, Boardmember Hardy, Boardmember Park, Boardmember Jain, Boardmember Cox, and Chair Gillmor
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4.B 26-233 Action on an Amendment No. 1 to the Agreement with Gachina Landscape Management, Inc. for Landscaping Services at Levi’s Stadium to Extend the Term by One Year, Update the Compensation and Fee Schedule, and Add a Termination for Convenience Clause
Recommendation:
Approve the Stadium Manager’s request to execute an Amendment No. 1 to the Agreement with Gachina Landscaping Management, Inc. to extend the term through March 31, 2027, in an amount not-to-exceed $40,000 for the fourth contract year and not-to-exceed $250,000 over the four-year term, subject to budget appropriations, update the compensation and fee schedule with Exhibit B-1, and add a termination for convenience clause.
A motion was made by Boardmember Hardy, seconded by
Boardmember Chahal, to approve the Stadium Manager’s request to execute an Amendment No. 1 to the Agreement with Gachina Landscaping Management, Inc. to extend the term through March 31, 2027, in an amount not-to-exceed $40,000 for the fourth contract year and not-to-exceed $250,000 over the four-year term, subject to budget appropriations, update the compensation and fee schedule with Exhibit B-1, and add a termination for convenience clause.
Aye:
Vice Chair Gonzalez, Boardmember Chahal, Boardmember Hardy, Boardmember Park, Boardmember Jain, Boardmember Cox, and Chair Gillmor
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4.E 26-313 Action on an Amendment No. 2 to the Agreement with Integrated Communication Systems for Fire Alarm Testing, Inspection, Maintenance, and Related Services at Levi’s Stadium to Extend the Term by One Year, Increase the Total Agreement Amount, Update the Compensation and Fee Schedule, and Delegate Authority to the Executive Director for Future Amendments
Recommendation:
1. Approve and authorize the Stadium Manager to execute an Amendment No. 2 to the Agreement with Integrated Communication System for fire alarm testing, inspections, maintenance, and related services at Levi’s Stadium to increase the maximum compensation by $160,000 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to reflect Exhibit B-2;
2. Authorize the Executive Director to approve future amendments to the Agreement with Integrated Communication Systems to exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $168,000 to cover services from April 1, 2027 to March 31, 2028, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% upon providing reasonable justification of rate increases, all subject to the same basic terms and conditions and budget appropriations;
3. Authorize the Executive Director to approve future amendment to the Agreement with Integrated Communication System, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the not-to-exceed amount by $88,200 to cover up to six months of services, and adjust the compensation and fee
schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and
4. The total not-to-exceed maximum compensation for the Agreement with Integrated Communication Systems, inclusive of all contract years and the six-month extension period, shall not exceed $824,200.
A motion was made by Boardmember Hardy, seconded by
Boardmember Chahal, to (1) approve and authorize the Stadium Manager to execute an Amendment No. 2 to the Agreement with Integrated Communication System for fire alarm testing, inspections, maintenance, and related services at Levi’s Stadium to increase the maximum compensation by $160,000 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to reflect Exhibit B-2; (2) authorize the Executive Director to approve future amendments to the Agreement with Integrated Communication Systems to exercise the final one-year
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option for the fifth contract year, increase the not-to-exceed amount by $168,000 to cover services from April 1, 2027 to March 31, 2028, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% upon providing reasonable justification of rate increases, all subject to the same basic terms and conditions and budget appropriations; (3) authorize the Executive Director to approve future amendment to the Agreement with Integrated Communication System, under the same basic terms and
conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the
not-to-exceed amount by $88,200 to cover up to six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and (4) the total not-to-exceed maximum compensation for the Agreement with Integrated Communication Systems, inclusive of all contract years and the six-month extension period, shall not exceed $824,200.
Aye:
Vice Chair Gonzalez, Boardmember Chahal, Boardmember Hardy, Boardmember Park, Boardmember Jain, Boardmember Cox, and Chair Gillmor
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4.F 26-316 Action on an Amendment No. 3 to the Agreement with Everon LLC for Fire Sprinkler Testing, Inspection, and Maintenance Services to Extend the Term by One Year, Increase the Total Agreement Amount, Update the Compensation and Fee Schedule, and Delegate Authority to the Executive Director for Future Amendments
Recommendation:
1. Approve and authorize the Stadium Manager to execute an Amendment No. 3 to the Agreement with Everon LLC for fire sprinkler testing, inspection, and maintenance services at Levi’s Stadium to increase the maximum compensation by $94,000 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to Exhibit B-2;
2. Authorize the Executive Director to approve future amendments to the Agreement with Everon LLC to exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $97,800 to cover services from April 1, 2027 to March 31, 2028, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, all subject to the same basic terms and conditions and budget appropriations;
3. Authorize the Executive Director to approve future amendment to the Agreement with Everon LLC, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the total not-to-exceed amount by $49,862 to cover six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and
4. The total not-to-exceed maximum compensation for the Agreement with Everon LLC, inclusive of all contract years and the six-month extension period, shall not exceed $494,562.
A motion was made by Boardmember Hardy, seconded by
Boardmember Chahal, to (1) approve and authorize the Stadium Manager to execute an Amendment No. 3 to the Agreement with Everon LLC for fire sprinkler testing, inspection, and maintenance services at Levi’s Stadium to increase the maximum compensation by $94,000 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to Exhibit B-2; (2) authorize the Executive Director to approve future amendments to the Agreement with Everon LLC to exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $97,800 to cover services from April 1, 2027 to March 31, 2028,
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and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, all subject to the same basic terms and conditions and budget appropriations; (3) aAuthorize the Executive Director to approve future amendment to the Agreement with Everon LLC, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the total not-to-exceed amount by $49,862 to cover six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and (4) the total not-to-exceed maximum compensation for the Agreement with Everon LLC, inclusive of all contract years and the six-month extension period, shall not exceed $494,562.
Aye:
Vice Chair Gonzalez, Boardmember Chahal, Boardmember Hardy, Boardmember Park, Boardmember Jain, Boardmember Cox, and Chair Gillmor
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26-365 Public Presentations Post Meeting Material
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PUBLIC PRESENTATIONS
Jay Ess expressed concerns regarding the agenda order of the March 10, 2026 City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting and requested Council to amend Council Policy 055.
Howard Gibbins spoke regarding a verbal altercation he had with Anthony Becker.
Sudhanva Belur spoke in favor of federal recognition for the Muwekma Ohlone Tribe.
Satkrutan Kalidas spoke in favor of federal recognition for the Muwekma Ohlone Tribe.
Micah Chiang spoke in favor of federal recognition for the Muwekma Ohlone Tribe.
Julie Dominquez spoke in favor of federal recognition for the Muwekma Ohlone Tribe.
Joey Torres spoke in favor of federal recognition for the Muwekma Ohlone Tribe.
James Rowen spoke regarding Robert Owen's passing.
John Preciado spoke regarding the closing of Great America Theme Park.
Akemi Flynn spoke regarding a public session on lessons learned from Super Bowl LX.
Lucila Ortiz spoke regarding a public session on lessons learned from Super Bowl LX.
Jeremy Barousse spoke regarding investing in immigration services.
Anthony Becker (time donated by Abel and Fred) made a Council Policy 030 request to investigate the disclosure of confidential information from Closed Session.
A motion was made by Councilmember Gonzalez, seconded by Councilmember Cox, to agendize a resolution in support of federal recognition for the Muwekma Ohlone Tribe at a future meeting date
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uncertain.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
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PUBLIC HEARING/GENERAL BUSINESS
6. 26-172 Public Hearing: Adoption of a Resolution Ordering the Abatement of a Nuisance Consisting of Growing Weeds in Association with the County Weed Abatement Program for 2026
Recommendation:
1. Determine the proposed actions are exempt from CEQA pursuant to Section 15308 (Actions by Regulatory Agencies for Protection of the Environment) of Title 14 of the California Code of Regulations;
2. Accept the recommendation from the City’s Code Enforcement for the removal of the four (4) properties who have demonstrated compliance from the County’s 2026 Commencement Report; and
3. Adopt a Resolution Ordering the Abatement of a Nuisance Consisting of Growing Weeds in the City of Santa Clara on the Identified Parcels in Accordance with City Code Chapter 8.15 and in Association with the County Weed Abatement Program (Attachment 7).
Mayor Gillmor opened the Public Hearing.
City Manager Grogan made some opening remarks and introduced Acting Deputy Fire Chief Panko and Garik Iosilevsky (Program Manager, Santa Clara County) who provided a Powerpoint presentation on the Weed Abatement Program.
Council questions and comments followed.
Acting Deputy Fire Chief Panko and Garik Iosilevsky (Program Manager, Santa Clara County) addressed Council questions.
Public Comment: Marc Fontana
A motion was made by Councilmember Chahal, seconded by
Councilmember Gonzalez, to close the Public Hearing.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
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Council discussion followed.
A motion was made by Councilmember Hardy, seconded by
Councilmember Chahal, to (1) determine the proposed actions are exempt from CEQA pursuant to Section 15308 (Actions by
Regulatory Agencies for Protection of the Environment) of Title 14 of the California Code of Regulations; (2) accept the
recommendation from the City’s Code Enforcement for the removal of the four properties who have demonstrated compliance from the County’s 2026 Commencement Report; (3) remove Marc Fontana from the Weed Abatement list upon verification; and (4) adopt Resolution No. 26-9543 Ordering the Abatement of a Nuisance Consisting of Growing Weeds in the City of Santa Clara on the Identified Parcels in Accordance with City Code Chapter 8.15 and in Association with the County Weed Abatement Program.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
7. 26-135
Public Hearing: Opportunity for Public Comment on the First Version of the DRAFT FY 2026/27 Annual Action Plan for the Use of Federal Housing and Urban Development (HUD) Grant Funds
Recommendation:
Approve the 2026-2027 DRAFT Annual Action Plan and direct staff to include public comments in the final version to be presented to the City Council on May 5, 2026.
Mayor Gillmor opened the Public Hearing.
City Manager Grogan made some opening remarks and introduced Housing Manager Marcus who provided a Powerpoint presentation on the Draft Annual Action Plan for the Use of Federal Housing and Urban Development Grant Funds.
Council questions and comments followed.
Housing Manager Marcus addressed Council questions.
Public Comment: Pilar Furlong
A motion was made by Councilmember Chahal, seconded by Vice Mayor Gonzalez, to close the Public Hearing.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
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A motion was made by Councilmember Hardy, seconded by
Councilmember Jain, to approve the 2026-2027 Draft Annual Action Plan and direct staff to include public comments in the final version to be presented to the City Council on May 5, 2026.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
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8. 26-273 Informational Report Regarding the Santa Clara Police Department’s Automated License Plate Reader (ALPR) Policy, Compliance Review, and Program Operations
Recommendation:
Note and file Information Report.
Chief of Police Morgan, Mike Sena (Director, Northern California Regional Intelligence Center), and Police Sergeant Williams provided a Powerpoint presentation on Informational Report Regarding the Santa Clara Police Department’s Automated License Plate Reader (ALPR) Policy, Compliance Review and Program Operations.
Council questions and comments followed.
Public comment: Jay Ess (Time donated by Shalini Venkatesh) KBT
David Kertes
Jeff Houston
Jill Brooks
Jeremy Barousse
Lesley Kelsey
Yvonne (Time donated by Santiago Inciarte)
Yun
Kimberly Woo
Victor Sin
Tim MacKenzie
Manny
Lucila Ortiz
Jonathan Soria
Austin M
Carrie Levin
Satish
Edward Strine
Drew
Heidi
Chief of Police Morgan and Police Sergeant Williams addressed Council questions.
Council discussion followed.
A motion was made by Council/Boardmember Hardy, seconded by Council/Boardmember Cox, to finish this item and Item 4.D and continue Items 4.C and 5 to the April 7, 2026 City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting.
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Aye: Vice Mayor/Chair Gonzalez, Council/Boardmember Chahal, Council/ Boardmember Hardy, Council/Boardmember Park, Council/Boardmember Jain, Council/Boardmember Cox, and Mayor/Chair Gillmor
7 -
Council discussion followed.
Chief of Police Morgan, Sergeant Williams, City Attorney Googins, and City Manager Grogan addressed Council questions.
A motion was made by Councilmember Hardy, seconded by
Councilmember Cox, to note and file informational report and direct staff to return with a report within 6 months.
Aye: Vice Mayor Gonzalez, Councilmember Chahal, Councilmember Hardy, Councilmember Park, Councilmember Jain, Councilmember Cox, and Mayor Gillmor
7 -
26-367
Post Meeting Material
CONSENT ITEMS PULLED FOR DISCUSSION
5. 26-295 Action on Monthly Financial Status and Investment Reports for December 2025 and Approve the Related Budget Amendments (ITEMS 2b AND 2e CONTINUED FROM MARCH 10, 2026)
Recommendation:
2. Approve the FY 2025/26 budget amendments in the following funds (as detailed in the Fiscal Impact section of the staff report and Attachment 1 of the staff report):
b. In the Downtown Parking Maintenance District Fund, transfers funding to the Public Buildings Fund and decreases the unrestricted ending fund balance, with a net impact of $0; and
e. In the Public Buildings Capital Fund, recognizes a transfer from the Downtown Parking Maintenance District Fund and establishes a Public Facilities Paid Parking project, with a net impact of $180,000.
Five affirmative Council votes required to appropriate additional revenue, allocate unused balances
This item was continued to the April 7, 2026 City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting.
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4.C 26-315 Action on an Amendment No. 1 to the Agreement with West Coast Turf for the Supply, Delivery, and Installation of Sod for the Field at Levi’s Stadium to Extend the Term by One Year, Increase the Total Agreement Amount, Update the Compensation and Fee Schedule, and Delegate Authority to the Executive Director for Future Amendments
Recommendation:
1. Approve and authorize the Stadium Manager to execute an Amendment No. 1 with West Coast Turf for supply, delivery, and installation of sod services at Levi’s Stadium to increase the maximum compensation by $1,600,000 to cover services from April 1, 2026 to March 31, 2027 and update the compensation and fee schedule to reflect Exhibit B-2 and Schedule A-1;
2. Authorize the Executive Director to approve future amendment to the Agreement with West Coast Turf to exercise the final one-year option for the fifth contract year, increase the not-to-exceed amount by $1,680,000 to cover services from April 1, 2027 to March 31, 2028, and adjust the compensation fee schedule to reflect rate increases not to exceed 5% upon providing reasonable justification of rate increases, all subject to the same basic terms and conditions and budget appropriations;
3. Authorize the Executive Director to approve future amendment to the Agreement with West Coast Turf, under the same basic terms and conditions, for a period not to exceed six months beyond the fifth contract year through September 30, 2028, increase the not-to-exceed amount by $840,000 to cover up to six months of services, and adjust the compensation and fee schedule to reflect rate increases not to exceed 5% over the prior year upon providing reasonable justification of rate increases, provided the Stadium Manager is engaged in an active competitive solicitation process and subject to budget appropriations; and
4. The total not-to-exceed maximum compensation for the Agreement, inclusive of all contract years and the six-month extension period, shall not exceed $8,920,000.
This item was continued to the April 7, 2026 City Council and Authorities Concurrent & Santa Clara Stadium Authority Board Meeting.
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4.D 26-311 Action on Amendment No. 2 to the Agreement with KPMG LLP for Auditing and Consulting Services for the Santa Clara Stadium Authority Recommendation: Approve and authorize the Executive Director or designee to execute Amendment No. 2 to the Agreement with KPMG LLP for audit and consulting services to extend the term of the agreement to June 30, 2026 in a final form approved by the Stadium Authority Counsel.
A motion was made by Boardmember Cox, seconded by Vice
Chair Gonzalez, to approve and authorize the Executive Director or designee to execute Amendment No. 2 to the Agreement with KPMG LLP for audit and consulting services to extend the term of the agreement to June 30, 2026 in a final form approved by the Stadium Authority Counsel.
Aye: Vice Chair Gonzalez, Boardmember Chahal, Boardmember Hardy, Boardmember Park, Boardmember Jain, Boardmember Cox, and Chair Gillmor
7 -
REPORTS OF MEMBERS, SPECIAL COMMITTEES AND COUNCILMEMBER 030 REQUESTS Councilmember Chahal spoke about recognizing May as Myositis Awareness Month.
Councilmember Jain noted that he attended the CivicWell Policymakers Conference at Yosemite March on 12-14, 2026. He provided a verbal report on the conference.
CITY MANAGER/EXECUTIVE DIRECTOR REPORT
City Manager Grogan noted that a Major Event reimbursement update was provided to Council through email and additional information will be provided at a future meeting.
ADJOURNMENT
The meeting was adjourned at 12:46 AM on March 25, 2026 in memory of Robert Owens.
The next regular scheduled meeting is on Tuesday, April 7, 2026 in the City Hall Council Chambers.
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MEETING DISCLOSURES
The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Santa Clara, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.
STREAMING SERVICES: As always, the public may view the meetings on SantaClaraCA.gov, Santa Clara City Television (Comcast cable channel 15), or the livestream on the City’s YouTube channel or Facebook page.
Note: The public cannot participate in the meeting through these livestreaming methods; livestreaming capabilities may be disrupted at times, viewers may always view and participate in meetings in-person and via Zoom as noted on the agenda.
AB23 ANNOUNCEMENT: Members of the Santa Clara Stadium Authority, Sports and Open Space Authority and Housing Authority are entitled to receive $30 for each attended meeting.
Note: The City Council and its associated Authorities meet as separate agencies but in a concurrent manner. Actions taken should be considered actions of only the identified policy body.
LEGEND: City Council (CC); Stadium Authority (SA); Sports and Open Space Authority (SOSA); Housing Authority (HA); Successor Agency to the City of Santa Clara Redevelopment Agency (SARDA); Bayshore North Project Enhancement Authority (BNPEA); Public Facilities Financing Corporation (PFFC)
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] <mailto:[email protected]> or at the public information desk at any City of Santa Clara public library.
If a member of the public submits a speaker card for any agenda items, their name will appear in the Minutes. If no speaker card is submitted, the Minutes will reflect "Public Speaker."
In accordance with the requirements of Title II of the Americans with Disabilities Act of 1990 ("ADA"), the City of Santa Clara will not discriminate against qualified individuals with disabilities on the basis of disability in its services, programs, or activities, and will ensure that all existing facilities will be made accessible to the maximum extent feasible. The City of Santa Clara will generally, upon request, provide appropriate aids and services leading to effective communication for qualified persons with disabilities including those with speech, hearing, or vision impairments so they can participate equally in the City’s programs, services, and activities. The City of Santa Clara will make all reasonable modifications to policies and programs to ensure that people with disabilities have an equal opportunity to enjoy all of its programs, services, and activities.
Agendas and other written materials distributed during a public meeting that are public record will be made available by the City in an appropriate alternative format. Contact the City Clerk’s Office at 1 408-615-2220 with your request for an alternative format copy of the agenda or other written materials.
Individuals who require an auxiliary aid or service for effective communication, or any other disability-related modification of policies or procedures, or other accommodation, in order to participate in a program, service, or activity of the City of Santa Clara, should contact the City’s ADA Coordinator at 408-615-3000 as soon as possible but no later than 48 hours before the scheduled event.
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
26-8 Agenda Date: 4/21/2026
REPORT TO COUNCIL
SUBJECT
Board, Commissions and Committee Minutes
RECOMMENDATION
Note and file the Minutes of:
Historical and Landmarks Commission - March 5, 2026
Stadium Neighborhood Relations Ad Hoc Subcommittee - December 15, 2025 City of Santa Clara Printed on 4/17/2026Page 1 of 1
powered by Legistar™
City of Santa Clara
Meeting Minutes
Historical & Landmarks Commission
Draft
6:00 PM Hybrid Meeting
City Hall Council
Chambers/Virtual
1500 Warburton Avenue
Santa Clara, CA 95050
03/05/2026
The City of Santa Clara is conducting the Historical and Landmarks Commission Hearing meeting in a hybrid manner (in-person and method for the public to participate remotely) o Via Zoom:
o https://santaclaraca.zoom.us/j/97233262035 or
o Phone: 1 (669) 900-6833
Meeting ID: 972 3326 2035
How to Submit Written Public Comment Before Historical and Landmarks Commission Meeting:
By email to [email protected] by 12 p.m. the day of the meeting.
Those emails will be forwarded to Staff and will be uploaded to the Historical and Landmarks Commission Agenda as supplemental meeting material. Emails received after 12:00 P.M. cutoff time up through the end of the meeting will form part of the meeting record. Please identify the Agenda Item Number in the subject line of your email.
Note: Emails received as public comment will not be read aloud during the meeting.
Agendas, Staff Reports and some associated documents for Historical and Landmarks Commission items may be viewed on the Internet at
https://santaclara.legistar.com/Calendar.aspx
All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the legislative body will be available for public inspection at the Office of the City Clerk at Santa Clara City Hall, 1500 Warburton Avenue, Santa Clara, CA 95050 at the same time that the public records are distributed or made available to the legislative body.
CALL TO ORDER AND ROLL CALL
Chair Leung called the meeting to order at 6:06 p.m.
Commissioner Michael Celso , Commissioner Yvonne Inciarte, Chair Patricia Leung, Commissioner Kathleen Romano, Vice Chair Ed Stocks, Commissioner Ana Vargas-Smith , and Commissioner Kaushal Varshney
Present 7 -
03/05/2026Historical & Landmarks Commission Meeting Minutes
CONSENT CALENDAR
1. 26-108 Historical and Landmarks Commission Meeting Minutes of December 4, 2025
Recommendation: Approve the Historical and Landmarks Commission Meeting Minutes of the December 4, 2025 Meeting.
A motion was made by Commissioner Stocks, seconded by
Commissioner Vargas-Smith, to approve the consent calendar.
Commissioner Romano abstained from voting because she was not in attendance at the December meeting.
Aye: Commissioner Celso, Commissioner Inciarte, Chair Leung, Vice Chair Stocks, Commissioner Vargas-Smith, and Commissioner Varshney
6 -
Abstained: Commissioner Romano1 -
PUBLIC PRESENTATIONS
Public Speaker:
Rob Mayer
GENERAL BUSINESS
03/05/2026Historical & Landmarks Commission Meeting Minutes
2. 26-68 Public Hearing: Recommendation on the Significant Property Alteration / Architectural Review (PLN25-00524) for an approximately 481 square foot first floor addition and an approximately 233 square foot second floor addition to an existing two-story single-family residence for a property on the Historic Resource Inventory Located at 1184 Washington Street.
CEQA Status: Exempt from CEQA per Sections 15332 (In-Fill Development Projects) and 15331 (Historical Resource
Restoration/Rehabilitation).
Recommendation:
Recommend that the Historical and Landmarks Commission find the proposed
project located at 1184 Washington Street will not destroy or have a significant adverse effect on the integrity of the Historic Resource Inventory property and that the proposed construction is compatible with the resource and recommend approval of the Significant Property Alteration / Architectural Review, subject to conditions and findings.
Associate Planner Tracy Tam provided the staff presentation.
Architect Rob Mayer spoke about the project. Homeowners Julie and Shea Salinas were available for questions.
Public Comments: None.
A motion was made by Commissioner Romano, seconded by
Commissioner Inciarte, to approve staff recommendation with the removal of Condition of Approval (P2), which required a reduction in the proposed second-floor square footage.
Aye: Commissioner Celso, Commissioner Inciarte, Chair Leung, Commissioner Romano, Vice Chair Stocks, Commissioner
Vargas-Smith, and Commissioner Varshney
7 -
3. 26-240
Potential Landmark Designation for Tiburcio Vásquez Gravesite Public Comments: None.
A motion was made by Commissioner Inciarte, seconded by Commissioner Varshney, to approve staff recommendation. This item will be formally agendized at a future meeting for the initiation and recommendation to City Council.
Aye: Commissioner Celso, Commissioner Inciarte, Chair Leung, Commissioner Romano, Vice Chair Stocks, Commissioner
Vargas-Smith, and Commissioner Varshney
7 -
03/05/2026Historical & Landmarks Commission Meeting Minutes
4. 26-238 Public Hearing: California Preservation Foundation (CPF) 2026 Annual Conference
Recommendation: There is no staff recommendation.
Public Comments: None.
A motion was made by Commissioner Romano, seconded by
Commissioner Inciarte, to approve expenditure of Commission funds for up to four (4) commissioners to attend the California Preservation Foundation conference.
Aye: Commissioner Celso, Commissioner Inciarte, Chair Leung, Commissioner Romano, Vice Chair Stocks, Commissioner
Vargas-Smith, and Commissioner Varshney
7 -
STAFF REPORT
Staff provided an overview of the process for updating the City's Historic Preservation Ordinance. A consultant will be selected through a Request for Proposals (RFP), and staff will return at a future meeting with an item requesting authorization to expend funds to initiate this work.
COMMISSIONERS REPORT
No updates on this item.
Subcommittee Reporting - 20 Minutes
No updates on this item.
Board/Committee Lead/Alternate Santa Clara Arts and Historic Consortium Vargas-Smith / Romano Historic Preservation Society of Santa Clara Vargas-Smith / Leung Old Quad Residents Association Leung Development Review Hearing Romano /Vargas-Smith BART/ High Speed Rail/ VTA BRT Committee Vargas-Smith/ Leung El Camino Real Specific Plan Community Advisory Committee Leung Downtown Precise Plan Vargas-Smith/Stocks Santa Clara Station Area Task Force Leung/Stocks Board/Committee Lead/Alternate Commissioners provided updates on various items, meetings, and groups that they are assigned to.
ADJOURNMENT
A motion was made by Commissioner Vargas-Smith, seconded by Commissioner Romano, to adjourn the meeting at 7:50 p.m.
03/05/2026Historical & Landmarks Commission Meeting Minutes
Aye: Commissioner Celso, Commissioner Inciarte, Chair Leung, Commissioner Romano, Vice Chair Stocks, Commissioner
Vargas-Smith, and Commissioner Varshney
7 -
The next regular scheduled meeting is on April 2, 2026, at 6 p.m. in the City Hall Council Chambers.
MEETING DISCLOSURES
The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Santa Clara, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.
If a member of the public submits a speaker card for any agenda items, their name will appear in the Minutes. If no speaker card is submitted, the Minutes will reflect "Public Speaker." In accordance with the requirements of Title II of the Americans with Disabilities Act of 1990 ("ADA"), the City of Santa Clara will not discriminate against qualified individuals with disabilities on the basis of disability in its services, programs, or activities, and will ensure that all existing facilities will be made accessible to the maximum extent feasible. The City of Santa Clara will generally, upon request, provide appropriate aids and services leading to effective communication for qualified persons with disabilities including those with speech, hearing, or vision impairments so they can participate equally in the City’s programs, services, and activities. The City of Santa Clara will make all reasonable modifications to policies and programs to ensure that people with disabilities have an equal opportunity to enjoy all of its programs, services, and activities.
Agendas and other written materials distributed during a public meeting that are public record will be made available by the City in an appropriate alternative format. Contact the City Clerk’s Office at 1 408-615-2220 with your request for an alternative format copy of the agenda or other written materials.
Individuals who require an auxiliary aid or service for effective communication, or any other disability-related modification of policies or procedures, or other accommodation, in order to participate in a program, service, or activity of the City of Santa Clara, should contact the City’s ADA Coordinator at 408-615-3000 as soon as possible but no later than 48 hours before the scheduled event.
City of Santa Clara
Meeting Minutes - Draft
Stadium Neighborhood Relations Ad Hoc Subcommittee
Draft
3:00 PM Northside Branch Library
695 Moreland Way
Santa Clara, CA 95054
12/15/2025
The City of Santa Clara is conducting Stadium Neighborhood Relations Ad Hoc Subcommittee meetings in-person and continues to have methods for the public to participate remotely or in-person.
Zoom Link: https://santaclaraca.zoom.us/j/83593117736
Phone: 1-669-444-9171
Webinar ID: 835 9311 7736
To submit written public comment before meeting:
Send email to [email protected] by 10 a.m. one day before the date of the meeting. Emails will be forwarded to Committee members and will be uploaded as post agenda supplemental meeting material.
Note: Emails received as public comment will not be read aloud during the meeting.
CALL TO ORDER AND ROLL CALL
The Stadium Neighborhood Relations Ad Hoc Subcommittee meeting was called to order at 3:04PM by Assistant City Manager Paulina Morales.
Chair Albert Gonzalez, Vice Chair Karen Hardy, and Member Suds Jain
Present 3 -
CONSENT CALENDAR
PUBLIC PRESENTATIONS
There were no public presentations on items not listed on the Agenda.
GENERAL BUSINESS
12/15/2025Stadium Neighborhood Relations
Ad Hoc Subcommittee
Meeting Minutes - Draft
1. 25-1707 Stadium Neighborhood Relations Ad Hoc Subcommittee Orientation Stadium Neighorhood Relations Subcommitte Map - FINALAttachments:
A presentation was provided by Assistant City Manager Paulina Morales outlining previously identified issues and upcoming Super Bowl items. A copy of the presentation is included with the December 15, 2025 meeting minutes and is identified as Attachment CMO Presentation 12_15_2025.
Santa Clara Police Chief Cory Morgan provided a presentation on public safety issues and Super Bowl related enforcement matters. A copy of the presentation is included with the December 15, 2025 meeting minutes and is identified as Attachment SCPD Presentation 12_15_2025.
Public comments were received throughout the presentation identifying the following major concerns:
- Parking
- Litter
- Noise
- Light Pollution
- Protection of Neighboring Parks
- Super Bowl Related Public Events in Santa Clara
Future meeting topics were identified as follows:
- Residential Parking Program
- Financial Structure of Operating Levi's Stadium
The election of the Stadium Neighborhood Relations Ad Hoc Subcommittee Chair and Vice-Chair was held.
Motion to nominate Committee Member/Council Member Albert Gonzalez was made by Committee Member/Council Member Karen Hardy with a second by Committee Member/Council Member Suds Jain. Unanimously approved.
Motion to nominate Committee Member/Council Member Karen Hardy as Vice-Chair was made by Committee Member/Council Member Suds Jain with a second by Committee Member/Council Member Albert Gonzalez.
Unanimously approved.
STAFF REPORT
12/15/2025Stadium Neighborhood Relations
Ad Hoc Subcommittee
Meeting Minutes - Draft
COMMITTEE MEMBER REPORTS / FUTURE REFERRALS
No reports or referrals.
ADJOURNMENT
The Stadium Neighborhood Relations Ad Hoc Subcommittee meeting was adjourned by Chair Albert Gonzalez at 5:02PM.
MEETING DISCLOSURES
The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Santa Clara, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.
If a member of the public submits a speaker card for any agenda items, their name will appear in the Minutes. If no speaker card is submitted, the Minutes will reflect "Public Speaker." In accordance with the requirements of Title II of the Americans with Disabilities Act of 1990 ("ADA"), the City of Santa Clara will not discriminate against qualified individuals with disabilities on the basis of disability in its services, programs, or activities, and will ensure that all existing facilities will be made accessible to the maximum extent feasible. The City of Santa Clara will generally, upon request, provide appropriate aids and services leading to effective communication for qualified persons with disabilities including those with speech, hearing, or vision impairments so they can participate equally in the City’s programs, services, and activities. The City of Santa Clara will make all reasonable modifications to policies and programs to ensure that people with disabilities have an equal opportunity to enjoy all of its programs, services, and activities.
Agendas and other written materials distributed during a public meeting that are public record will be made available by the City in an appropriate alternative format. Contact the City Clerk’s Office at 1 408-615-2220 with your request for an alternative format copy of the agenda or other written materials.
Individuals who require an auxiliary aid or service for effective communication, or any other disability-related modification of policies or procedures, or other accommodation, in order to participate in a program, service, or activity of the City of Santa Clara, should contact the City’s ADA Coordinator at 408-615-3000 as soon as possible but no later than 48 hours before the scheduled event.
Santa Clara Stadium
Authority
Stadium Ad Hoc Meeting
December 15, 2025
Agenda
• Introduction
• Purpose of the Stadium Ad Hoc
• Survey
• Annual Operations
• Current Outreach Efforts
• Data Collected
• Super Bowl LX
• How to Stay Informed
• Next Steps
2SCSA
SANTA CLARA STADIUM AUTHORITY
Introduction
• Committee
• Stadium Management
• Police Department
• City / Stadium Authority Staff
3SCSA
SANTA CLARA STADIUM AUTHORITY
Stadium Neighborhood Relations Ad Hoc Subcommittee
4SCSA --------------SANT A CLARA STADIUM AUTHORITY
Survey
• What is the biggest challenge or issue you experience related to Stadium Events?
• How do you typically receive information about
Stadium Events today?
• What aspects of communication or outreach for
Stadium events are working well?
5SCSA
SANTA CLARA STADIUM AUTHORITY
Subcommittee Purpose
• Forum for communication with Residents and
Businesses impacted by Stadium Events
• Provide updates on Major Events 2026
• Evaluate current outreach/communication efforts
• Develop opportunities to enhance
outreach/communication
6SCSA
SANTA CLARA STADIUM AUTHORITY
Annual Operations
7 NFL EVENTS: 9-12 GAMES
A YEAR
NON-NFL EVENTS: 8-10
A YEAR
SCSA
SANTA CLARA STADIUM AUTHORITY
Current Outreach/Communication Efforts
8 SCSA ------------SANT A CLARA STADIUM AUTHORITY
i) Liked by santaclaracity and others
sant acla ra_p d The 49ers will take on the Tennessee
Titans on Sunday, December 14, with kickoff at 1:25 p.m.
Below is the traff ic advisory for Levi's Stad ium and the surrounding area.
• Expect heavy traffic and significant delays on major
roads near the stadium, including Highways 101, 237, and 880, as well as Lawrence Expressway, Great America
Parkway, and San Tomas Expressway.
• Be patient and follow posted signs and officer direct ions. • Tasman Drive will be closed from 1:30 a.m. on December 14 unt il after the event.
• Select off-ramps and portions of Great America Parkway will close to support safe and efficient traffic flow.
• No parking is allowed on Tasman Drive or on marked
port ions of Lick Mill Boulevard.
Walking and Biking in the Area (For Those Wit hout
Tickets)
• The San Tomas Aquino and Saratoga Creek Trail will
close at 8:55 a.m. at Agnew Road.
• Signs and staff wi ll direct bicycle and pedes trian detours around the stadium.
• The trail will reopen as soon as poss ible after the event. • Parking lots open at 9:55 a.m.
• Fans are encouraged to purchase parking passes online in advance .
• Enter your address when purchasing to rece ive turn-by turn directions to your spec ific lot.
• ADA parking is located in Red Lot 1. Accessib le park ing informa tion is available online or by calling 408-579-4610. • For rideshare users, drop-off locations are listed on the Levi's Stadium website. Pick-up is located at Red Lot 7.
Arriving by Bike or on Foot:
• The Creek Trail closes at 8:55 a.m., but ticketed guests may access it beginning at 9:55 a.m.
• Bike parking is available near Gate A and Gate C and
opens at 9 :55 a.m.
Full advisory available at SCPD.org
Current Outreach/Communication Efforts
• Neighborhood Protection Detail
• Stadium & Event-Related Non-Emergency Hotline
• Community Response Team
• Traffic Advisory Posts
9SCSA
SANTA CLARA STADIUM AUTHORITY
Data Collected
10SCSA
SANTA CLARA STADIUM AUTHORITY
Noise Monitoring
• Two noise monitors (Hughes Elementary and
Cheeney/Lenox) that continuously monitor noise
• Noise Monitoring consultant who comes to events for
noise monitoring and checks during events
• Noise Monitoring: traffic noise, general street noise, plane taking off, and event noise.
11SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX - Traffic Impacts
Safety and security associated with Super Bowl LX will require temporary closure of roads and creek trails around Levi’s Stadium. The closures will occur in three phases.
• Phase 1: Begins Jan. 5. Stars and Strips Drive will be close to public traffic, including the ramp from Tasman Drive and the bike path along the corridor. Shuttles, parking and rideshare associated with the Great America Station will be relocated to the east (Tasman East) for the duration of the closure. 12SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX - Traffic Impacts
Safety and security associated with Super Bowl LX will require temporary closure of roads and creek trails around Levi’s Stadium. The closures will occur in three phases.
• Phase 1: Begins Jan. 5. Stars and Strips Drive will be close to public traffic, including the ramp from Tasman Drive and the bike path along the corridor. Shuttles, parking and rideshare associated with the Great America Station will be relocated to the east (Tasman East) for the duration of the closure. 13SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX - Traffic Impacts
14SCSA ---------------SANT A CLARA STADIUM AUTHORITY
security associated with
...
closure of RUblic infrastructure around
•
. . '
Tasman Drive and the bike path along the corridor. Sl7uttles, parl-:irYJ, and rideshare as50ciated with the Great America rail station will be relocated lo the east for the duration ofthecklsure.
. . .
and Calle Del Sol. Bike and vehicle traffic will be detoured around the closure. The San Tomas Aquioo Creek Trail will also close from Jan. 29·Feb. 10 with detours provided Super Bowl Sunday (February 8th): Great America Parkway will close betiNeen BLinker Hill Lane and Patrick Henry Drive. Other closures to support Super Bowl acfa1ities will take place on Old Ironsides and Old Glory Lane. Detours for impacted cars and vehicles will be provided.
Super Bowl LX – Special Event Zone
• The Special Event Zone Ordinance would apply
temporarily during Super Bowl LX
o February 1, 2026 (8:00 am) - February 10, 2026 (10:00 p.m.)
• The goal is to support public safety, emergency
access, traffic flow, pedestrian mobility, and consumer protection during globally significant events.
• A component of the League Event Agreement
15SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX – Special Event Zone
16 0.25
SCSA ---------------SANT A CLARA STADIUM AUTHORITY
Exhibit A (MAP B)
Special Event Zone
for Super Bowl LX and FIFA World Cup 2026
- Hl?"'l'llu)']
- LiQhtR.>T-..,_k-
@ c,,,•,am,°'
0.5 Miles
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Last Updalalori 11/ 12/2025
Super Bowl LX – Special Event Zone
1. Pause on Sidewalk Vending Permits within the Zone
Only Chapter 5.05 permits within the Zone are paused during activation; permits remain valid elsewhere.
2. Prohibition on Outdoor Sales of Food and Beverage
The prohibition applies to outdoor sales when visible from public areas except when food and beverage sales are
distributed in the ordinary course of business, at the usual location of properly permitted businesses.
17SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX – Special Event Zone
3. Prohibition on Outdoor Merchandise Sales
The prohibition applies to outdoor sale or distribution of merchandise when visible from public areas except
when merchandise sales are distributed in the ordinary
course of business, at the usual location of a properly permitted business.
4. Prohibition on Mobile-Unit Vending and Advertising
The prohibition applies to any trucks, trailers, carts, bikes, or any wheeled vending unit not fixed to a foundation.
18SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX – Special Event Zone
5. Prohibition on Free Product Sampling or Giveaways in Public Areas
This prohibition applies to promotional giveaways on streets, sidewalks, and outside an enclosed building. This section will allow distribution of coupons when directly connected to businesses operating within the enclosed building, and
where the distribution occurs wholly on private property outside of that building.
19SCSA
SANTA CLARA STADIUM AUTHORITY
Super Bowl LX – Special Event Zone
6. Permit Required for Temporary Structures.
No temporary structure shall be constructed, placed,
occupied or used (including, but not limited to, temporary location of tents, canopies, umbrellas and air supported, air- inflated and tensioned membranes) on non-residential
property unless it is approved as an associated use with a Temporary Use Permit issued by the City pursuant to Santa Clara City Code Chapter 18.122.
20SCSA
SANTA CLARA STADIUM AUTHORITY
How to Stay Informed
• Website: www.santaclaraca.gov/stadiumrelations
• Email: [email protected]
• Sign up for email notifications
• Follow:
o @Santaclara_pd
o @Santaclaracity
o @levi’sstadium
21SCSA --------------SANT A CLARA STADIUM AUTHORITY
Next Steps
• Next Meeting – End of February / March
22SCSA
SANTA CLARA STADIUM AUTHORITY
SCSA
Santa Clara Stadium Authority
SANTA CLARA POLICE DEPARTMENT
Chief Cory Morgan
Captain Richard Fitting
Stadium Neighborhood Relations Committee
SERVING WITH PRIDE. PROTECTING WITH HONOR.
2014-Present
200+ Major Events
Attendance:
9 MILLION+
SCPD & Allied Partner Staffing:
40K+
Key Events:
CFP
Super Bowl 50
Taylor Swift (6x)
Wrestlemania 31
International Soccer
NFC Conference Championships
Major Event Public Safety Experience
CHIEF CORY MORGAN
What a Stadium Deployment Involves
• Public Safety: Pr event/disrupt a targeted attack, crowd management, crime deterrence, emergency response
• Mobility: traffic control, pedestrian safety, ingress/egress management • N
eighborhood impacts: Par king spillover, noise, littering, intoxication, other quality of life (QOL) issues
• Coordination: Fi re/EMS, Public Works, CHP, transit, private security, stadium ops, plus other regional and federal partners
_________________________________________________________________________ • National Incident Management System (NIMS) - I ncident Command System (ICS)
CHIEF CORY MORGAN
Command Structure: NIMS/ICS
CHIEF CORY MORGAN
Capt. Richard Fitting
Incident Commander
Deputy Incident Commander
Sgt. Max Nielepko
Exterior Chief
Sgt. John Terry
Interior Chief
Sgt. Jerry Ogg
THF
Sgt. Bryan Williams
Intelligence
Lt. Aric Enos
Checks and Balances
Internal and External Scrutiny
• After Action Reviews (AAR) lead to improvement
• Comprehensive External Audit (Guidepost)
• Civil Litigation
• Lawsuit over public safety costs at stadium.
• Lawsuit example: Plaintiff dropped Police Department from lawsuit after rev
iewing deployment and response to critical incident.
• City of Santa Clara Finance Department
• City Council Review
CHIEF CORY MORGAN
Community Hotline x2280
Initiated in 2019
• Direct line to Deputy Incident Commander
• Deputy Incident Commander oversees event operations
• Supervises Interior Chief and Exterior Chief
• Can direct resources to an issue when available
• After Action Review: documented for future improvement
CHIEF CORY MORGAN
Post Event Summary
CHIEF CORY MORGAN
• x2280 calls are summarized in Post-Eve nt Summary that is provided to key City staff and City Council
x2280 Community Hotline Calls 2 (permitted food vendor reported npennmed vendors; resident reported lloud noise from vehicular traffic on Tasman Drive) --- -
Santa Clara Stadium Authority and SC Police Department ., .. '·' Special Event Summary .
CONFIDENTIAL// For Official Use Only
"""'
49ers v. Panthers - November 24, 2025
Start/end times 5:1SP~7:58P
Tickets scanned 67,432
Flyover/Air event
'" Pyrotechnics
'" STAFF & DATA
CityofSCFTE Police, Fire, Public Works, Traffic Engineering Police/security calls 51 olice/ 66 securi
Police reports
Arrests zero
Ejections (security & PD data) 12 (code of conduct violations) ~t· Citations 35total (traffic/ arkin alcoholic bevera e violation San Tomas Aquino Trail detour
Counterflow
Sidewalk/street vendors
NIEIGHBORHOOD PROTECTION
Summarv --,=-'"~ff~•d=/eouiooed withJa enfotcemenutaff. Stadiu~ aff. and..siv:na11 2 (permittedfoodvendor reported unpffmitted vendors; re"s;-d,::-i~ reported loud noise from vehicular traffic on Tasman Drive) I x2280 Community Hotline Calls EV£NT SUMMARY
ltem(s)ofnote
An 82 year old male with cognitive decline was separated from his friend during the event . A number of search and locate strategies were deployed. The male was eventually found by alert officers after the end of the game during egress. He was in good health and reunited with his friend.
CA Department of Alcoholic Beverage Control Agents were incorporated into the public safety operational plan. Agents cont acted more than 30 persons and issued 7 citat ions in the parking lots for alcohol related violatio ns.
lnfonnat/oncutoff / raponedtoSCPDasof : 1124.?Q25@ IQ:OQP CONFIDENTIAL // Fo r Offi cial Use On ly
x2280 Historical Data
CHIEF CORY MORGAN
Calls
Vendors Noise Parking Misc.
97 Total Calls 2021-2025 (81 events)
• (33) Noise, (24) Illegal vending (19) Parking, (21) Misc. • From the Misc. category
• Public urination (2)
• Public intoxication
• Littering
• Lost persons / welfare checks
• Other isolated issues
21 24
33 19
■ ■ ■ ■
What has NOT changed: Infrastructure
CHIEF CORY MORGAN
Parking is the Root Driver for QOL Issues
• Stadium is surrounded by public streets without residential parking restrictions • Screening practice when stadium first opened
• Unrestricted on-st reet parking drives spillover and secondary complaints:
• Littering
• Public urination
• Public intoxication
• Congestion / driveway blocking or other unlawful parking • Most effective action City Council or residents could take: Residential parking restrictions (RPP) for residents + guests
CHIEF CORY MORGAN
CHIEF CORY MORGAN
Noise Complaints 2021-2025
• Trends
• Concerts – N ot NFL games
• Tasman / Lick Mill
• Code Enforcement
• Administrative code
10 8
4,-1 6
C
::J
0 u
4 2
0 What We Need from this Committee
• The most effective solutions require policy authority from the City Council • Consider Residential Parking Permit (RPP) program near the stadium • Most stadiums have significantly different parking pictures – RPP will change event flow • Strong desire for City-wi de restriction on RV parking on the streets • Police recommendation: This Subcommittee give rolling recommendations to City Co
uncil to make changes as necessary.
CHIEF CORY MORGAN
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
26-252 Agenda Date: 4/21/2026
REPORT TO PUBLIC FACILITIES FINANCING CORPORATION (PFFC)
SUBJECT
Action on the City of Santa Clara Public Facilities Financing Corporation Federal and State Income Tax Exempt Reporting for Fiscal Year 2024/25
BACKGROUND
The City Council established the City of Santa Clara Public Facilities Financing Corporation (PFFC) in 1997. The PFFC’s main purpose is to render financial assistance to the City of Santa Clara when financing, refinancing, acquiring, constructing, improving, leasing, or selling City facilities. In this capacity, the PFFC was the issuing agency for the 2013 Refunding Certificates of Participation (COPs), which refunded: (1) the outstanding 2002A COPs for the construction of the City’s Central Park Library, and (2) the 2023 Wastewater Revenue COPs for the construction of the San Jose/Santa Clara Regional Wastewater Facility Project.
Established as a tax-exempt organization, the PFFC is required to annually file Internal Revenue Service (IRS) Form 990. Form 990 is required to be accepted by the organization’s governing body prior to its filing. Once accepted by the Board, it will be transmitted to the IRS. This tax form should be filed by the 15th day of the 5th month after the end of the City’s accounting period of June 30 th,
which is November 15th. However, the City’s Annual Comprehensive Financial Report (ACFR) was not completed until December 2025 and an extension was requested and granted by the IRS.
Therefore, the revised deadline to file Form 990 for 2024/2025 fiscal year is now May 15, 2026.
DISCUSSION
Form 990 is the reporting form that federally tax-exempt organizations must file with the IRS each year. This form allows the IRS and the public to evaluate the operations of federally tax-exempt organizations. As an organization exempt from income tax, the PFFC is required to file Form 990 under section 501(c) of the Internal Revenue Code.
The PFFC is also required to file the State of California Franchise Tax Board Form 199, Exempt Organization Annual Information Return, which is the State’s equivalent to the IRS Form 990.
A copy of both the 2024 Form 990 (Attachment 1) and Form 199 (Attachment 2) for the period commencing July 1, 2024 and ending June 30, 2025, which was prepared by a certified public accounting firm (Maze & Associates) on PFFC’s behalf, are available to the public on the City’s website and at the City Clerk’s Office.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a “project” within the meaning of the California Environmental Quality Act (“CEQA”) pursuant to section 15378(b)(4) of Title 14 of the California Code of Regulations in that it is a fiscal activity that does not involve any commitment to any specific City of Santa Clara Printed on 4/17/2026Page 1 of 2
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26-252 Agenda Date: 4/21/2026
project which may result in a potential significant impact on the environment.
FISCAL IMPACT
Preparation of IRS Form 990 and State Form 199 was included in the cost of the contract with the City’s external auditor, Maze & Associates, at a cost of $974. Funding for this engagement was included in the FY 2025/26 Adopted Budget.
PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours before a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] or at the public information desk at any City of Santa Clara public library.
RECOMMENDATION
Accept and Authorize the PFFC Executive Director, or designee, to file the 2024 Internal Revenue Service Form 990 (Return of Organization Exempt from Income Tax) and the State of California Form 199 (Exempt Organization Annual Information Return) on behalf of the City of Santa Clara Public Facilities Financing Corporation in substantially the forms presented.
Reviewed by: Kenn Lee, Director of Finance
Approved by: Jovan D. Grogan, Executive Director
ATTACHMENTS
1. 2024 Federal Form 990
2. 2024 State Form 199
City of Santa Clara Printed on 4/17/2026Page 2 of 2
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OMB No. 1545-0047
Form 990
Return of Organization Exempt From Income Tax 2024
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) Open to Public Do not enter social security numbers on this form as it may be made public.Department of the Treasury InspectionInternal Revenue Service Go to www.irs.gov/Form990 for instructions and the latest information.
A For the 2024 calendar year, or tax year beginning , 2024, and ending , 20 Employer identification numberC DCheck if applicable:B
Address change
Telephone numberEName change
Initial return
Final return/terminated
$Amended return Gross receiptsG
Is this a group return for subordinates?H(a)Name and address of principal officer:FApplication pending Yes No H(b) Are all subordinates included? Yes No
If "No," attach a list. See instructions.
()Tax-exempt status: 501(c)(3) 501(c) (insert no.) 4947(a)(1) or 527I Group exemption numberJ Website: H(c)
Form of organization: Corporation Trust Association Other Year of formation: State of legal domicile:K LM Part I Summary
Briefly describe the organization's mission or most significant activities:1 Check this box if the organization discontinued its operations or disposed of more than 25% of its net assets.2 Number of voting members of the governing body (Part VI, line 1a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 3 Number of independent voting members of the governing body (Part VI, line 1b). . . . . . . . . . . . . . . . . . . . . . . .4 4 Total number of individuals employed in calendar year 2024 (Part V, line 2a). . . . . . . . . . . . . . . . . . . . . . . . . . .5 5 Total number of volunteers (estimate if necessary) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 6 Total unrelated business revenue from Part VIII, column (C), line 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7a 7a Net unrelated business taxable income from Form 990-T, Part I, line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 7b Prior Year Current Year
Contributions and grants (Part VIII, line 1h). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Program service revenue (Part VIII, line 2g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Investment income (Part VIII, column (A), lines 3, 4, and 7d). . . . . . . . . . . . . . . . . . . . . . . . . .10 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e). . . . . . . . . . . . . . . .11 Total revenue ' add lines 8 through 11 (must equal Part VIII, column (A), line 12). . . . . .12 Grants and similar amounts paid (Part IX, column (A), lines 1-3). . . . . . . . . . . . . . . . . . . . . .13 Benefits paid to or for members (Part IX, column (A), line 4). . . . . . . . . . . . . . . . . . . . . . . . . .14 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5-10). . . . . .15 Professional fundraising fees (Part IX, column (A), line 11e) . . . . . . . . . . . . . . . . . . . . . . . . . .16a Total fundraising expenses (Part IX, column (D), line 25)b Other expenses (Part IX, column (A), lines 11a-11d, 11f-24e) . . . . . . . . . . . . . . . . . . . . . . . . .17 Total expenses. Add lines 13-17 (must equal Part IX, column (A), line 25). . . . . . . . . . . . . .18 Revenue less expenses. Subtract line 18 from line 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19 End of YearBeginning of Current Year
Total assets (Part X, line 16). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 Total liabilities (Part X, line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Net assets or fund balances. Subtract line 21 from line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Part II Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Signature of officer DateSign
Here
Type or print name and title
Preparer's name Preparer's signature Date PTIN Check if self-employedPaid
Firm's namePreparer
Use Only Firm's EINFirm's address
Phone no.
May the IRS discuss this return with the preparer shown above? See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No TEEA0101L 12/12/24BAA For Paperwork Reduction Act Notice, see the separate instructions. Form 990 (2024) 7/01 6/30 2025
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION
1500 WARBURTON AVENUE
SANTA CLARA, CA 95050-3713
31-1611044
(408) 615-2368
X 4
X
N/A
821,439.785,417.
8,336,503.9,475,800.
9,157,942.10,261,217.
36,022.39,993.
1,406,100.1,402,385.
1,406,100.1,402,385.
1,442,122.1,442,378.
36,182.39,938.
1,405,940.1,402,440.
0. 0.
0 0
0 7
CA1997X
1,442,122.
DIR. OF FINANCEKENN LEE
X
TO RENDER FINANCIAL ASSISTANCE TO THE
CITY OF SANTA CLARA BY FINANCING, REFINANCING, LEASING AND CONSTRUCTING VARIOUS FACILITIES FOR THE BENEFIT OF THE CITY'S RESIDENTS.
VIKKI C RODRIGUEZ P00685455
MAZE & ASSOCIATES
94-25901793478 BUSKIRK AVE STE 217
(925) 228-2800PLEASANT HILL, CA 94523
SAME AS C ABOVE
JOVAN GROGAN
VIKKI C RODRIGUEZ 3/16/2026
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Form 990 (2024) Page 2
Part III Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Briefly describe the organization's mission:1
Did the organization undertake any significant program services during the year which were not listed on the prior2 Form 990 or 990-EZ? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No If "Yes," describe these new services on Schedule O.
Did the organization cease conducting, or make significant changes in how it conducts, any program services?. . . . .3 Yes No If "Yes," describe these changes on Schedule O.
4 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses.
Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported. $$ $(Code: ) (Expenses including grants of ) (Revenue )4a $$ $(Code: ) (Expenses including grants of ) (Revenue )4b $$ $(Code: ) (Expenses including grants of ) (Revenue )4c Other program services (Describe on Schedule O.)4d
$$ $(Expenses including grants of ) (Revenue )
4e Total program service expenses
Form 990 (2024)TEEA0102L 09/05/24BAA
1,406,100.
1,406,100.
X
X
31-1611044CITY OF SANTA CLARA PUBLIC FACILITIES
X
DEBT SERVICE EXPENDITURES RELATED TO POLICE ADMINISTRATION BUILDING, LIBRARY BUILDING CONSTRUCTION, AND LEASE OBLIGATIONS.
SEE SCHEDULE O
□
□
□
□
□
Form 990 (2024) Page 3
Part IV Checklist of Required Schedules
Yes No
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete1 Schedule A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Is the organization required to complete Schedule B, Schedule of Contributors? See instructions . . . . . . . . . . . . . . . . . . . . . . .2 2 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates3 for public office? If "Yes," complete Schedule C, Part I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues,5 assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C, Part III. . . . . . . 5 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right6 to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Did the organization receive or hold a conservation easement, including easements to preserve open space, the7 environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II. . . . . . . . . . . . . . . . . . . . . . . . . . 7 Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"8 complete Schedule D, Part III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Did the organization report an amount in Part X, line 21, for escrow or custodial account liability, serve as a custodian9 for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Did the organization, directly or through a related organization, hold assets in donor-restricted endowments10 or in quasi-endowments? If "Yes," complete Schedule D, Part V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 If the organization's answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX,11 or X, as applicable.
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete Schedulea D, Part VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11a Did the organization report an amount for investments ' other securities in Part X, line 12, that is 5% or more of its totalb assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11b Did the organization report an amount for investments ' program related in Part X, line 13, that is 5% or more of its totalc assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11c Did the organization report an amount for other assets in Part X, line 15, that is 5% or more of its total assets reportedd in Part X, line 16? If "Yes," complete Schedule D, Part IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11d Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X . . . . . .e 11e Did the organization's separate or consolidated financial statements for the tax year include a footnote that addressesf the organization's liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X. . . . 11f Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete12a Schedule D, Parts XI and XII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12a Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," andb if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional . . . . . . . . . . . . . . . . . 12b Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E . . . . . . . . . . . . . . . . . . . . . . .13 13 Did the organization maintain an office, employees, or agents outside of the United States?. . . . . . . . . . . . . . . . . . . . . . . . . . . .14a 14a Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising,b business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14b Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any15 foreign organization? If "Yes," complete Schedule F, Parts II and IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to16 or for foreign individuals? If "Yes," complete Schedule F, Parts III and IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX,17 column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII,18 lines 1c and 8a? If "Yes," complete Schedule G, Part II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes,"19 complete Schedule G, Part III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20a20a Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?. . . . . . . . . . . . . . . . .b 20b Did the organization report more than $5,000 of grants or other assistance to any domestic organization or21 domestic government on Part IX, column (A), line 1? If "Yes," complete Schedule I, Parts I and II. . . . . . . . . . . . . . . . . . . . . . 21 TEEA0103L 09/05/24BAA Form 990 (2024)
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Part IV Checklist of Required Schedules (continued)
Yes No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX,22 column (A), line 2? If "Yes," complete Schedule I, Parts I and III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization's current23 and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of24a the last day of the year, that was issued after December 31, 2002? If "Yes," answer lines 24b through 24d and complete Schedule K. If "No," go to line 25a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24a Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?. . . . . . . . . . . . . . . . . . .b 24b Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defeasec any tax-exempt bonds? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24c Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year? . . . . . . . . . . . . . . . . .d 24d 25a Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit 25atransaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, andb that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25b Did the organization report any amount on Part X, line 5 or 22, for receivables from or payables to any current or26 former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key27 employee, creator or founder, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these 27persons? If "Yes," complete Schedule L, Part III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Was the organization a party to a business transaction with one of the following parties? (See the Schedule L, Part IV,28 instructions for applicable filing thresholds, conditions, and exceptions).
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? Ifa 28a"Yes," complete Schedule L, Part IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV. . . . . . . . . . . . . . . . . . . . . . . .b 28b A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes,"c complete Schedule L, Part IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28c Did the organization receive more than $25,000 in noncash contributions? If "Yes," complete Schedule M. . . . . . . . . . . . . . .29 29 Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation30 contributions? If "Yes," complete Schedule M. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I. . . . . . .31 31 Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete32 Schedule N, Part II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections33 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV,34 and Part V, line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Did the organization have a controlled entity within the meaning of section 512(b)(13)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35a 35a If "Yes" to line 35a, did the organization receive any payment from or engage in any transaction with a controlledb entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2. . . . . . . . . . . . . . . . . . . . . . . . . . 35b 36 Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related 36organization? If "Yes," complete Schedule R, Part V, line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is37 treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI. . . . . . . . . . . . . . . . . . . . . . . 37 Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19?38 Note: All Form 990 filers are required to complete Schedule O. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Part V Statements Regarding Other IRS Filings and Tax Compliance Check if Schedule O contains a response or note to any line in this Part V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable. . . . . . . . . . . . . . .1a 1a Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable . . . . . . . . . . .b 1b Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gamingc (gambling) winnings to prize winners?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c TEEA0104L 09/05/24BAA Form 990 (2024)
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Part V Statements Regarding Other IRS Filings and Tax Compliance (continued) Yes No
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax State-2a ments, filed for the calendar year ending with or within the year covered by this return. . . . . . 2a If at least one is reported on line 2a, did the organization file all required federal employment tax returns?. . . . . . . . . . . . . .b 2b Did the organization have unrelated business gross income of $1,000 or more during the year?. . . . . . . . . . . . . . . . . . . . . . . . .3a 3a If "Yes," has it filed a Form 990-T for this year? If "No" to line 3b, provide an explanation on Schedule O. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 3b At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a4a financial account in a foreign country (such as a bank account, securities account, or other financial account)?. . . . . . . . . . 4a If "Yes," enter the name of the foreign countryb
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?. . . . . . . . . . . . . . . . . . . .5a 5a Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?. . . . . . . . . . . . .b 5b If "Yes," to line 5a or 5b, did the organization file Form 8886-T?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c 5c Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization6a solicit any contributions that were not tax deductible as charitable contributions?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts wereb not tax deductible?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6b 7 Organizations that may receive deductible contributions under section 170(c).
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods anda services provided to the payor?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a If "Yes," did the organization notify the donor of the value of the goods or services provided?. . . . . . . . . . . . . . . . . . . . . . . . . . .b 7b Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to filec 7cForm 8282?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes," indicate the number of Forms 8282 filed during the year. . . . . . . . . . . . . . . . . . . . . . . . . .d 7d Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?. . . . . . . . . . .e 7e Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? . . . . . . . . . . . . . .f 7f If the organization received a contribution of qualified intellectual property, did the organization file Form 8899g as required?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7g If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file ah 7hForm 1098-C?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Sponsoring organizations maintaining donor advised funds.
Did the sponsoring organization make any taxable distributions under section 4966?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 9a Did the sponsoring organization make a distribution to a donor, donor advisor, or related person? . . . . . . . . . . . . . . . . . . . . . .b 9b 10 Section 501(c)(7) organizations. Enter:
Initiation fees and capital contributions included on Part VIII, line 12. . . . . . . . . . . . . . . . . . . . . . .a 10a Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities . . . . .b 10b 11 Section 501(c)(12) organizations. Enter:
Gross income from members or shareholders. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 11a Gross income from other sources. (Do not net amounts due or paid to other sourcesb against amounts due or received from them.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11b 12a Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?. . . . . . . . . . . . . . 12a If "Yes," enter the amount of tax-exempt interest received or accrued during the year. . . . . . .b 12b 13 Section 501(c)(29) qualified nonprofit health insurance issuers.
Is the organization licensed to issue qualified health plans in more than one state?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 13a Note: See the instructions for additional information the organization must report on Schedule O.
Enter the amount of reserves the organization is required to maintain by the states inb which the organization is licensed to issue qualified health plans. . . . . . . . . . . . . . . . . . . . . . . . . . 13b Enter the amount of reserves on hand. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c 13c Did the organization receive any payments for indoor tanning services during the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . .14a 14a If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation on Schedule O. . . . . . . . . . . . . . .b 14b 15 Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or 15excess parachute payment(s) during the year?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes," see the instructions and file Form 4720, Schedule N. 16Is the organization an educational institution subject to the section 4968 excise tax on net investment income?. . . . . . . . . .16 If "Yes," complete Form 4720, Schedule O.
17 Section 501(c)(21) organizations. Did the trust, or any disqualified or other person, engage in any activities that would 17result in the imposition of an excise tax under section 4951, 4952, or 4953?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes," complete Form 6069.
TEEA0105L 09/05/24BAA Form 990 (2024)
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Part VI Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes on Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section A. Governing Body and Management
Yes No
Enter the number of voting members of the governing body at the end of the tax year. . . . . . .1a 1a If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain on Schedule O.
Enter the number of voting members included on line 1a, above, who are independent. . . . . .b 1b Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other2 officer, director, trustee, or key employee?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Did the organization delegate control over management duties customarily performed by or under the direct supervision3 of officers, directors, trustees, or key employees to a management company or other person?. . . . . . . . . . . . . . . . . . . . . . . . . . 3 Did the organization make any significant changes to its governing documents4 since the prior Form 990 was filed?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Did the organization become aware during the year of a significant diversion of the organization's assets? . . . . . . . . . . . . . .5 5 Did the organization have members or stockholders?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 6 Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more7a members of the governing body?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a Are any governance decisions of the organization reserved to (or subject to approval by) members,b stockholders, or persons other than the governing body?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b Did the organization contemporaneously document the meetings held or written actions undertaken during the year by8 the following:
The governing body?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 8a Each committee with authority to act on behalf of the governing body?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 8b Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the9 organization's mailing address? If "Yes," provide the names and addresses on Schedule O. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.) Yes No
Did the organization have local chapters, branches, or affiliates?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10a 10a If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure theirb operations are consistent with the organization's exempt purposes? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10b Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?. . . . . . . . . . . . . . . . . . . . . . .11a 11a Describe on Schedule O the process, if any, used by the organization to review this Form 990.b Did the organization have a written conflict of interest policy? If "No," go to line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12a 12a Were officers, directors, or trustees, and key employees required to disclose annually interests that could give riseb to conflicts?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12b Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe onc Schedule O how this was done. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12c Did the organization have a written whistleblower policy?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 13 Did the organization have a written document retention and destruction policy?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 14 Did the process for determining compensation of the following persons include a review and approval by independent15 persons, comparability data, and contemporaneous substantiation of the deliberation and decision? The organization's CEO, Executive Director, or top management official . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 15a Other officers or key employees of the organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 15b If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a16a taxable entity during the year?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16a If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate itsb participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization's exempt status with respect to such arrangements? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16b Section C. Disclosure
List the states with which a copy of this Form 990 is required to be filed17 Section 6104 requires an organization to make its Forms 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only)18 available for public inspection. Indicate how you made these available. Check all that apply.
Other (explain on Schedule O)Own website Another's website Upon request Describe on Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to19 the public during the tax year.
State the name, address, and telephone number of the person who possesses the organization's books and records.20 TEEA0106L 09/05/24BAA Form 990 (2024)
31-1611044CITY OF SANTA CLARA PUBLIC FACILITIES
KENN LEE 1500 WARBURTON AVENUE SANTA CLARA CA 95050-3713 (408) 615-2345 X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
7 X
CA
SEE SCHEDULE O
SEE SCHEDULE O
j
I
I
□ □ □ □
Form 990 (2024) Page 7
Part VII Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization's tax year.
? List all of the organization's current officers, directors, trustees (whether individuals or organizations), regardless of amount of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid. ? List all of the organization's current key employees, if any. See the instructions for definition of "key employee." ? List the organization's five current highest compensated employees (other than an officer, director, trustee, or key employee) who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.
? List all of the organization's former officers, key employees, and highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations. ? List all of the organization's former directors or trustees that received, in the capacity as a former director or trustee of the organization, more than $10,000 of reportable compensation from the organization and any related organizations.
See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee. (C)
Position
(A) (B) (D) (E) (F)(do not check more than one
Reportable Reportablebox, unless person is both anName and title Estimated amountAverage compensation from compensation fromofficer and a director/trustee) of otherhours the organization related organizations compensation fromper week (W-2/1099- (W-2/1099- the organization(list any MISC/1099-NEC) MISC/1099-NEC) and relatedhours for organizationsrelated organiza-
tions
below
dotted
line)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
TEEA0107L 09/05/24BAA Form 990 (2024)
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
X
ALBERT GONZALEZ 0.5
BOARD MEMBER 0 X 0. 0. 0.
KEVIN N. PARK 0.5
BOARD MEMBER 0 X 0. 0. 0.
RAJ CHAHAL 0.5
BOARD MEMBER 0 X 0. 0. 0.
KAREN HARDY 0.5
BOARD MEMBER 0 X 0. 0. 0.
KELLY G. COX 0.5
BOARD MEMBER 0 X 0. 0. 0.
SUDHANSHU JAIN 0.5
VICE PRESIDENT 0 X 0. 0. 0.
LISA M. GILLMOR 0.5
PRESIDENT 0 X X 0. 0. 0.
JOVAN GROGAN 0.1
EXECUTIVE DIR. 0 X 0. 0. 0.
KENN LEE 0.1
DIR. OF FINANCE 0 X 0. 0. 0.
NORA PIMENTAL 0.1
SECRETARY 0 X 0. 0. 0. □
Fonner
Highest compensated
employee
Key employee
Officer
Institutional trustee
Individual trustee
or director
□
Form 990 (2024) Page 8
Part VII Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued) (C)
Position(B) (D) (E) (F)(A) (do not check more than one
Reportable ReportableName and title box, unless person is both an Estimated amountAverage compensation from compensation fromofficer and a director/trustee) of otherhours the organization related organizations compensation fromper week (W-2/1099- (W-2/1099- the organization(list any MISC/1099-NEC) MISC/1099-NEC) and relatedhours for organizationsrelated organiza-
tions
below
dotted
line)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
1b Subtotal
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Total from continuation sheets to Part VII, Section A. . . . . . . . . . . . . . . . . . . . . . . . . . . d Total (add lines 1b and 1c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation2 from the organization
Yes No
3 Did the organization list any former officer, director, trustee, key employee, or highest compensated employee 3on line 1a? If "Yes,"complete Schedule J for such individual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for 4such individual. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual 5for services rendered to the organization? If "Yes," complete Schedule J for such person. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section B. Independent Contractors
1 Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization's tax year. (A) (B) (C)
Name and business address Description of services Compensation Total number of independent contractors (including but not limited to those listed above) who received more than2 $100,000 of compensation from the organization
TEEA0108L 09/05/24BAA Form 990 (2024)
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
0 X
X
X
0 0.0.0.
0.0.0. 0.0.0.
Former
Highest compensated
emolovee
Key employee
Officer
Institutional trustee
Individual trustee
or director
I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I
I I I I I I I I I I I
-
-
Form 990 (2024) Page 9
Part VIII Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (A) (B) (C) (D)
Total revenue Related or Unrelated Revenue
exempt business excluded from tax
function revenue under sections
revenue 512-514
Federated campaigns . . . . . . . . .1a 1a
Membership dues. . . . . . . . . . . . .b1 b
Fundraising events. . . . . . . . . . . .c1 c
Related organizations . . . . . . . . .d1 d
Government grants (contributions). . . . .e1 e
All other contributions, gifts, grants, andf
similar amounts not included above. . . . 1f
Noncash contributions included ing
1glines 1a-1f. . . . . . . . . . . . . . . . . . . . . . h Total. Add lines 1a-1f. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Business Code
2a
b
c
d
e
All other program service revenue
. . . .f
g Total. Add lines 2a-2f
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Investment income (including dividends, interest, and3
other similar amounts). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income from investment of tax-exempt bond proceeds4
Royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 (i) Real (ii) Personal
Gross rents. . . . . . . .6a 6a
Less: rental expensesb 6b
Rental income or (loss)c 6c
Net rental income or (loss). . . . . . . . . . . . . . . . . . . . . . . . . . .d (i) Securities (ii) Other
Gross amount from7a
sales of assets 7aother than inventory
Less: cost or other basisb
7band sales expenses
Gain or (loss). . . . . . .c 7c
Net gain or (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d Gross income from fundraising events8a
(not including $
of contributions reported on line 1c).
See Part IV, line 18. . . . . . . . . . . . . . 8a
Less: direct expenses. . . . . . .b8 b
Net income or (loss) from fundraising events. . . . . . . . . .c Gross income from gaming activities.9a
See Part IV, line 19. . . . . . . . . . . . . . 9a
Less: direct expenses. . . . . . .b9 b
Net income or (loss) from gaming activities. . . . . . . . . . .c Gross sales of inventory, less. . . . . .10a
returns and allowances. . . . . . . . . . . 10a
Less: cost of goods sold. . . . .b 10b
Net income or (loss) from sales of inventory . . . . . . . . . .c Business Code
11a
b
c
All other revenue. . . . . . . . . . . . . . . . . . . .d e Total. Add lines 11a-11d
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Total revenue. See instructions . . . . . . . . . . . . . . . . . . . . . .
TEEA0109L 09/05/24BAA Form 990 (2024)
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
1,405,940. 1,405,940.
1,405,940.
36,182. 36,182.
1,442,122. 1,442,122. 0. 0.
LEASE REVENUE
Miscellaneous
Revenue
,~
Other Revenue Program Service Revenue I Contributions, Gifts, Grants, and Other Similar Amounts
1-~ I □
Form 990 (2024) Page 10
Part IX Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).
Check if Schedule O contains a response or note to any line in this Part IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (A) (B) (C) (D)Do not include amounts reported on lines Total expenses Management andProgram service Fundraising6b, 7b, 8b, 9b, and 10b of Part VIII. general expensesexpenses expenses Grants and other assistance to domestic1
organizations and domestic governments.
See Part IV, line 21. . . . . . . . . . . . . . . . . . . . . . . .
Grants and other assistance to domestic2 individuals. See Part IV, line 22. . . . . . . . . . . . .
Grants and other assistance to foreign3
organizations, foreign governments, and for-
eign individuals. See Part IV, lines 15 and 16.
Benefits paid to or for members. . . . . . . . . . . . .4 Compensation of current officers, directors,5 trustees, and key employees. . . . . . . . . . . . . . . .
Compensation not included above to6 disqualified persons (as defined under section 4958(f)(1)) and persons described
in section 4958(c)(3)(B)
. . . . . . . . . . . . . . . . . . . .
Other salaries and wages. . . . . . . . . . . . . . . . . . .7 Pension plan accruals and contributions8 (include section 401(k) and 403(b) employer contributions) . . . . . . . . . . . . . . . . . . . .
Other employee benefits . . . . . . . . . . . . . . . . . . .9 Payroll taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Fees for services (nonemployees):11
Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a Legal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b Accounting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c Lobbying. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d Professional fundraising services. See Part IV, line 17. . .e Investment management fees. . . . . . . . . . . . . . .f g Other. (If line 11g amount exceeds 10% of line 25, column (A), amount, list line 11g expenses on Schedule O.). . . . .
Advertising and promotion. . . . . . . . . . . . . . . . . .12 Office expenses . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Information technology. . . . . . . . . . . . . . . . . . . . .14 Royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Occupancy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 Travel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 Payments of travel or entertainment18
expenses for any federal, state, or local
public officials. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Conferences, conventions, and meetings. . . .19
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 Payments to affiliates. . . . . . . . . . . . . . . . . . . . . .21 Depreciation, depletion, and amortization. . . .22
Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Other expenses. Itemize expenses not24
covered above. (List miscellaneous expenses
on line 24e. If line 24e amount exceeds 10%
of line 25, column (A), amount, list line 24e
expenses on Schedule O.). . . . . . . . . . . . . . . . . . a
b
c
d
All other expenses
. . . . . . . . . . . . . . . . . . . . . . . . .e
25 Total functional expenses. Add lines 1 through 24e. . . . 26 Joint costs. Complete this line only if
the organization reported in column (B)
joint costs from a combined educational
campaign and fundraising solicitation.
Check here if following
SOP 98-2 (ASC 958-720). . . . . . . . . . . . . . . . . . .
BAA Form 990 (2024)TEEA0110L 09/05/24
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
0. 0. 0. 0.
0. 0. 0. 0.
319,775. 319,775.
1,085,000. 1,085,000.
1,325. 1,325.
1,406,100. 1,406,100. 0. 0.
PRINCIPAL DEBT PAYMENTS
BOND COST EXPENSE
I I
I
--------------------------------------------~---------------------- ---------------------+----------➔-----------r----------r----------- --------------------------------------------~---------------------- ---------------------+----------➔-----------r----------r----------- □
Form 990 (2024) Page 11
Part X Balance Sheet
Check if Schedule O contains a response or note to any line in this Part X. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (A) (B)
Beginning of year End of year
Cash ' non-interest-bearing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1 Savings and temporary cash investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 2 Pledges and grants receivable, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 3 Accounts receivable, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 4 Loans and other receivables from any current or former officer, director,5 trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons. . . . . . . . . . . . . . . . . . . . . . 5 Loans and other receivables from other disqualified persons (as defined under6 6section 4958(f)(1)), and persons described in section 4958(c)(3)(B). . . . . . . . . . . . . .
Notes and loans receivable, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 7 Inventories for sale or use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 8 Prepaid expenses and deferred charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 9 Land, buildings, and equipment: cost or other basis.10a Complete Part VI of Schedule D. . . . . . . . . . . . . . . . . . . . 10a Less: accumulated depreciation. . . . . . . . . . . . . . . . . . . .b 10b 10c 11Investments ' publicly traded securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 12Investments ' other securities. See Part IV, line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . .12 13Investments ' program-related. See Part IV, line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . .13 14Intangible assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 15Other assets. See Part IV, line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 1616 Total assets. Add lines 1 through 15 (must equal line 33). . . . . . . . . . . . . . . . . . . . . . .
Accounts payable and accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 17 Grants payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 18 Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19 19 Tax-exempt bond liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 20 Escrow or custodial account liability. Complete Part IV of Schedule D. . . . . . . . . . .21 21 Loans and other payables to any current or former officer, director, trustee,22 key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons. . . . . . . . . . . . . . . . . . . . . . 22 Secured mortgages and notes payable to unrelated third parties. . . . . . . . . . . . . . . . .23 23 Unsecured notes and loans payable to unrelated third parties . . . . . . . . . . . . . . . . . . .24 24 Other liabilities (including federal income tax, payables to related third parties,25 and other liabilities not included on lines 17-24). Complete Part X of Schedule D . 25 26 Total liabilities. Add lines 17 through 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Organizations that follow FASB ASC 958, check here
and complete lines 27, 28, 32, and 33.
Net assets without donor restrictions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27 27 Net assets with donor restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 28 Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
Capital stock or trust principal, or current funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 29 Paid-in or capital surplus, or land, building, or equipment fund . . . . . . . . . . . . . . . . . .30 30 Retained earnings, endowment, accumulated income, or other funds. . . . . . . . . . . . .31 31 Total net assets or fund balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 32 Total liabilities and net assets/fund balances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 33 TEEA0111L 09/05/24BAA Form 990 (2024)
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
785,417. 821,439.
9,475,800. 8,336,503.
10,261,217. 9,157,942.
9,475,800. 8,336,503.
9,475,800. 8,336,503.
X
785,417. 821,439.
785,417. 821,439.
10,261,217. 9,157,942.
Net Assets or Fund Balances Liabilities Assets
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Form 990 (2024) Page 12
Part XI Reconciliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total revenue (must equal Part VIII, column (A), line 12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1 Total expenses (must equal Part IX, column (A), line 25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 2 Revenue less expenses. Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 3 Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)). . . . . . . . . . . . . . . . . . .4 4 Net unrealized gains (losses) on investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 5 Donated services and use of facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 6 Investment expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 7 Prior period adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 8 Other changes in net assets or fund balances (explain on Schedule O) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 9 Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32,10 column (B)). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Part XII Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
Accounting method used to prepare the Form 990: Cash Accrual Other1 If the organization changed its method of accounting from a prior year or checked "Other," explain on Schedule O.
Were the organization's financial statements compiled or reviewed by an independent accountant?. . . . . . . . . . . . . . . . . . . . .2a 2a If "Yes," check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both.
Separate basis Consolidated basis Both consolidated and separate basis Were the organization's financial statements audited by an independent accountant?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 2b If "Yes," check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both.
Separate basis Consolidated basis Both consolidated and separate basis c If "Yes" to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? . . . . . . . . . . . . . . . . . . . . . . . . . 2c
If the organization changed either its oversight process or selection process during the tax year, explain on Schedule O.
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform3a Guidance, 2 C.F.R. Part 200, Subpart F?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3a If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required auditb or audits, explain why on Schedule O and describe any steps taken to undergo such audits. . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b TEEA0112L 09/05/24BAA Form 990 (2024)
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
1,442,122.
1,406,100.
36,022.
785,417.
0. 821,439.
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SCHEDULE D Supplemental Financial Statements OMB No. 1545-0047(Form 990) Complete if the organization answered "Yes" on Form 990, (Rev. December 2024) Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
Attach to Form 990. Open to PublicDepartment of the Treasury Go to www.irs.gov/Form990 for instructions and the latest information.Internal Revenue Service Inspection Name of the organization Employer identification number Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts Part I Complete if the organization answered "Yes" on Form 990, Part IV, line 6. (a) Donor advised funds (b) Funds and other accounts
Total number at end of year. . . . . . . . . . . . . . . . .1 Aggregate value of contributions to (during year). . . . . . . .2 Aggregate value of grants from (during year). . . . . . . . . . .3 Aggregate value at end of year . . . . . . . . . . . . . .4 5 Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds Yes Noare the organization's property, subject to the organization's exclusive legal control?. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring Yes Noimpermissible private benefit?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part II Conservation Easements
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
Purpose(s) of conservation easements held by the organization (check all that apply).1 Preservation of land for public use (for example, recreation or education) Preservation of a historically important land area Protection of natural habitat Preservation of a certified historic structure Preservation of open space
2 Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Tax Year
Total number of conservation easements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 2a Total acreage restricted by conservation easements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 2b Number of conservation easements on a certified historic structure included on line 2a. . . . . . . . . .c 2c d Number of conservation easements included on line 2c acquired after July 25, 2006, and not on 2da historic structure listed in the National Register. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the3 tax year
4 Number of states where property subject to conservation easement is located Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations,5 Yes Noand enforcement of the conservation easements it holds?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year6 Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year7 $
8 Does each conservation easement reported on line 2d above satisfy the requirements of section 170(h)(4)(B)(i) Yes Noand section 170(h)(4)(B)(ii)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement and balance sheet, and include, if applicable, the text of the footnote to the organization's financial statements that describes the organization's accounting for conservation easements.
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets Part III Complete if the organization answered "Yes" on Form 990, Part IV, line 8. 1a If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide in Part XIII the text of the footnote to its financial statements that describes these items. b If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items.
Revenue included on Form 990, Part VIII, line 1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (i) $ Assets included in Form 990, Part X. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (ii) $ 2 If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the following amounts required to be reported under FASB ASC 958 relating to these items.
Revenue included on Form 990, Part VIII, line 1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a $ Assets included in Form 990, Part X. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b $ TEEA3301L 11/13/24BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990. Schedule D (Form 990) (Rev. 12-2024)
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION 31-1611044
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Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued) Part III 3 Using the organization's acquisition, accession, and other records, check any of the following that make significant use of its collection items (check all that apply).
Public exhibition Loan or exchange programad
Scholarly research Otherbe
Preservation for future generationsc
4 Provide a description of the organization's collections and explain how they further the organization's exempt purpose in Part XIII.
5 During the year, did the organization solicit or receive donations of art, historical treasures, or other similar assets Yes Noto be sold to raise funds rather than to be maintained as part of the organization's collection?. . . . . . . . . . . . . . . . . . . . .
Escrow and Custodial Arrangements Part IV
Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a Is the organization an agent, trustee, custodian, or other intermediary for contributions or other assets not included Yes Noon Form 990, Part X?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes," explain the arrangement in Part XIII and complete the following table.b Amount
Beginning balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c 1c Additions during the year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d 1d Distributions during the year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e 1e Ending balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .f 1f Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? . . . . .2a Yes No If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII. . . . . . . . . . . . . . . . . . . . . .b Endowment Funds Part V
Complete if the organization answered "Yes" on Form 990, Part IV, line 10. (a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back Beginning of year balance. . . . . .1a
Contributions. . . . . . . . . . . . . . . . . .b
c Net investment earnings, gains,
and losses . . . . . . . . . . . . . . . . . . . .
Grants or scholarships . . . . . . . . .d
e Other expenditures for facilities
and programs . . . . . . . . . . . . . . . . .
Administrative expenses. . . . . . . .f
End of year balance. . . . . . . . . . . .g
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:2 %Board designated or quasi-endowmenta
%Permanent endowmentb
%Term endowment c
The percentages on lines 2a, 2b, and 2c should equal 100%. 3a Are there endowment funds not in the possession of the organization that are held and administered for the Yes Noorganization by:
Unrelated organizations?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(i) 3a(i) Related organizations?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(ii) 3a(ii) If "Yes" on line 3a(ii), are the related organizations listed as required on Schedule R? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 3b Describe in Part XIII the intended uses of the organization's endowment funds.4 Part VI Land, Buildings, and Equipment
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (d) Book value(a) Cost or other basis (b) Cost or other (c) Accumulated (investment) basis (other) depreciation
Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1a Buildings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b Leasehold improvements. . . . . . . . . . . . . . . . . . . .c Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .e Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, line 10c, column (B)). . . . . . . . . . . . . . . . . . . . . . . .
Schedule D (Form 990) (Rev. 12-2024)BAA
TEEA3302L 11/13/24
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Part VII Investments ' Other Securities
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12. (b) Book value(a) Description of security or category (including name of security) (c) Method of valuation: Cost or end-of-year market value (1) Financial derivatives. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) Closely held equity interests. . . . . . . . . . . . . . . . . . . . . . . . . . (3) Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, line 12, column (B)) . . . .
Investments ' Program Related Part VIII
Complete if the organization answered "Yes" on Form 990, Part IV, line 11c. See Form 990, Part X, line 13. (a) Description of investment (b) Book value (c) Method of valuation: Cost or end-of-year market value (1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, line 13, column (B)) . . . .
Other Assets Part IX
Complete if the organization answered "Yes" on Form 990, Part IV, line 11d. See Form 990, Part X, line 15. (a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, line 15, column (B)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other Liabilities Part X
Complete if the organization answered "Yes" on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25. (a) Description of liability (b) Book value1.
(1) Federal income taxes
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, line 25, column (B)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FASB ASC 740. Check here if the text of the footnote has been provided in Part XIII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TEEA3303L 11/13/24BAA Schedule D (Form 990) (Rev. 12-2024) 8,336,503.
31-1611044CITY OF SANTA CLARA PUBLIC FACILITIES
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NET INVESTMENT IN LEASE 8,336,503.
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Schedule D (Form 990) (Rev. 12-2024) Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered "Yes" on Form 990, Part IV, line 12a.
Total revenue, gains, and other support per audited financial statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1 Amounts included on line 1 but not on Form 990, Part VIII, line 12:2 Net unrealized gains (losses) on investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 2a b Donated services and use of facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b Recoveries of prior year grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c 2c d Other (Describe in Part XIII.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2d e Add lines 2a through 2d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e Subtract line 2e from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 3 Amounts included on Form 990, Part VIII, line 12, but not on line 1:4 Investment expenses not included on Form 990, Part VIII, line 7b . . . . . . . . . . . . . .a 4a Other (Describe in Part XIII.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 4b c Add lines 4a and 4b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c 5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return Complete if the organization answered "Yes" on Form 990, Part IV, line 12a.
Total expenses and losses per audited financial statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1 Amounts included on line 1 but not on Form 990, Part IX, line 25:2 Donated services and use of facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a 2a Prior year adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b 2b c Other losses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c Other (Describe in Part XIII.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d 2d e Add lines 2a through 2d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e 3 Subtract line 2e from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . . . . . . . . . . . . . . 4a b Other (Describe in Part XIII.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b c Add lines 4a and 4b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c 5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Supplemental Information Part XIII
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
BAA Schedule D (Form 990) (Rev. 12-2024)
TEEA3304L 11/13/24
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
N/A
N/AI I
I I
Supplemental Information on Tax-Exempt BondsSCHEDULE K OMB No. 1545-0047 (Form 990) Complete if the organization answered "Yes" on Form 990, Part IV, line 24a. Provide descriptions, (Rev. December 2024) explanations, and any additional information in Part VI. Open to Public Attach to Form 990.Department of the Treasury InspectionInternal Revenue Service Go to www.irs.gov/Form990 for instructions and the latest information.
Name of the organization Employer identification number Part I Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (h) On(g) (i) Pooled behalf ofDefeased financing
issuer
Yes No Yes No Yes No
A
B
C
D
Part II Proceeds
ABCD
Amount of bonds retired. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Amount of bonds legally defeased. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Total proceeds of issue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Gross proceeds in reserve funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Capitalized interest from proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Proceeds in refunding escrows. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Issuance costs from proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Credit enhancement from proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Working capital expenditures from proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Capital expenditures from proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Other spent proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 Other unspent proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Year of substantial completion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Yes No Yes No Yes No Yes No
Were the bonds issued as part of a refunding issue of tax-exempt bonds (or, if issued14 prior to 2018, a current refunding issue)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Were the bonds issued as part of a refunding issue of taxable bonds (or, if issued prior to 2018, an advance refunding issue)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the final allocation of proceeds been made?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 Does the organization maintain adequate books and records to support the final allocation17 of proceeds?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TEEA4401L 01/14/25BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990. Schedule K (Form 990) (Rev. 12-2024)
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION 31-1611044
XX
19,571,640.
703,637.
18,437,270.
430,733.
X
X
X
X
CITY OF SANTA CLARA 94-6000426 801400EK4 3/28/2013 19,571,640. CENTRAL PARK LIBRARY REFUNDING ~
I
I I
I I
Schedule K (Form 990) (Rev. 12-2024) Page 2
Part III Private Business Use
ABCD
Yes No Yes No Yes No Yes No
Was the organization a partner in a partnership, or a member of an LLC, which owned1 property financed by tax-exempt bonds?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Are there any lease arrangements that may result in private business use of2 bond-financed property?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Are there any management or service contracts that may result in private business use of3a bond-financed property?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes" to line 3a, does the organization routinely engage bond counsel or other outsideb counsel to review any management or service contracts relating to the financed property? . . . .
Are there any research agreements that may result in private business use ofc bond-financed property?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "Yes" to line 3c, does the organization routinely engage bond counsel or other outsided counsel to review any research agreements relating to the financed property?. . . . . . . . . . . . . . . .
Enter the percentage of financed property used in a private business use by entities other4 than a section 501(c)(3) organization or a state or local government. . . . . . . . . . . . . . . . . . . . . . . . . %%%% Enter the percentage of financed property used in a private business use as a result of5 unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %%%% Total of lines 4 and 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 %%%% Does the bond issue meet the private security or payment test?. . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Has there been a sale or disposition of any of the bond-financed property to a8a nongovernmental person other than a 501(c)(3) organization since the bonds were issued? . . .
If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. . . . . . . .b %%%% If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sectionsc
1.141-12 and 1.145-2?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the organization established written procedures to ensure that all nonqualified bonds of9 the issue are remediated in accordance with the requirements under Regulations sections
1.141-12 and 1.145-2?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part IV Arbitrage
ABCD
Yes No Yes No Yes No Yes No
Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty1 in Lieu of Arbitrage Rebate?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If "No" to line 1, did the following apply?2
Rebate not due yet? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .a Exception to rebate?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b No rebate due?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c If "Yes" to line 2c, provide in Part VI the date the rebate computation was performed. . . . . . . . .
Is the bond issue a variable rate issue?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 TEEA4401L 01/14/25BAA Schedule K (Form 990) (Rev. 12-2024) CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
X
X
X
X
X
I I
I I
Schedule K (Form 990) (Rev. 12-2024) Page 3
Part IV Arbitrage (continued)
ABCD
Yes No Yes No Yes No Yes No
Has the organization or the governmental issuer entered into a qualified hedge with respect4a to the bond issue?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Name of provider. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b Term of hedge. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c Was the hedge superintegrated?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d Was the hedge terminated?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .e Were gross proceeds invested in a guaranteed investment contract (GIC)?. . . . . . . . . . . . . . . . . . .5a Name of provider. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .b Term of GIC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied?. . . . .d Were any gross proceeds invested beyond an available temporary period?. . . . . . . . . . . . . . . . . . .6 Has the organization established written procedures to monitor the requirements of7 section 148?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part V Procedures To Undertake Corrective Action
ABCDHas the organization established written procedures to ensure that violations of federal tax Yes No Yes No Yes No Yes Norequirements are timely identified and corrected through the voluntary closing agreement program if self-remediation isn't available under applicable regulations?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplemental Information. Provide additional information for responses to questions on Schedule K. See instructions.Part VI TEEA4401L 01/14/25BAA Schedule K (Form 990) (Rev. 12-2024) CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
X
X
X
X
X
I I
I I
I I
Supplemental Information to Form 990 or 990-EZSCHEDULE O OMB No. 1545-0047(Form 990) Complete to provide information for responses to specific questions on Form 990 or 990-EZ or to provide any additional information. (Rev. December 2024) Attach to Form 990 or Form 990-EZ.
Open to PublicDepartment of the Treasury Go to www.irs.gov/Form990 for instructions and the latest information. InspectionInternal Revenue Service Name of the organization Employer identification number TEEA4901L 12/10/24 Schedule O (Form 990) (Rev. 12-2024)BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 31-1611044
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION
FORM 990, PART III, LINE 1 - ORGANIZATION MISSION
TO RENDER FINANCIAL ASSISTANCE TO THE CITY OF SANTA CLARA BY FINANCING, REFINANCING,
ACQUIRING, CONSTRUCTING, IMPROVING, LEASING AND SELLING OF BUILDINGS, BUILDING
IMPROVEMENTS, EQUIPMENT, AND OTHER PUBLIC IMPROVEMENTS, LANDS, AND ANY OTHER REAL OR
PERSONAL PROPERTY FOR THE BENEFIT OF RESIDENTS OF THE CITY OF SANTA CLARA CALIFORNIA.
FORM 990, PART VI, LINE 11B - FORM 990 REVIEW PROCESS
THE CITY OF SANTA CLARA PUBLIC FACILITIES FINANCING CORPORATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE TAX PREPARER BASED ON INFORMATION PROVIDED BY THE CITY. THE FOLLOWING PROCESS OCCURS PRIOR TO THE FORM 990 FILING:
WHEN THE FORM 990 IS PREPARED, IT IS REVIEWED BY MANAGEMENT AND IS PRESENTED TO MEMBERS OF THE GOVERNING BODY PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH AT LEAST 3 DAYS TO REVIEW THE PREPARED FORM 990 AND PROVIDE THEIR COMMENTS TO MANAGEMENT. THE FORM 990 IS THEN PRESENTED FOR ACCEPTANCE AT A SPECIAL CITY OF SANTA CLARA PUBLIC FACILITIES FINANCING CORPORATION BOARD MEETING.
FORM 990, PART VI, LINE 19 - OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE ALL FORMAL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST.
TAXABLE YEAR FORM
California Exempt Organization2024 199Annual Information Return Calendar Year 2024 or fiscal year beginning (mm/dd/yyyy) , and ending (mm/dd/yyyy) .
Corporation/Organization name California corporation number Additional information. See instructions. FEIN
Street address (suite or room) PMB no.
City State ZIP code
Foreign country name Foreign province/state/county Foreign postal code Did the organization have any changes to its guidelinesIFirst return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes NoA not reported to the FTB? See instructions. . . . . . . . . . . . . . Yes No@ B Amended return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No@ J If exempt under R&TC Section 23701d, has theIRC Section 4947(a)(1) trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes NoC organization engaged in political activities? D Final information return? See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ Yes No @ Dissolved Surrendered (Withdrawn) Merged/Reorganized
@Enter date: (mm/dd/yyyy) K Is the organization exempt under R&TC Section 23701g?. . . @ Yes NoCheck accounting method:E If "Yes," enter the gross receipts fromCash Accrual Other12 3 $nonmember sources. . . . . . . . . . . . . . . . . . . . . . @@Federal return filed? 990T 990-PF1 2F L Is the organization a limited liability company?. . . . . . . . . . @ Yes No@ Sch H (990) Other 990 series34 Did the organization file Form 100 or Form 109 to reportM@Is this a group filing? See instructions . . . . . . . . . . . . . . . . . . Yes NoG taxable income? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ Yes No Is the organization under audit by the IRS or has the IRSN H Is this organization in a group exemption . . . . . . . . . . . . . . . . . . Yes No audited in a prior year?. . . . . . . . . . . . . . . . . . . . . . . . . . . @ Yes No If "Yes," what is the parent's name?
Is federal Form 1023/1024 pending? . . . . . . . . . . . . . . . . . . . .O Yes No Date filed with IRS
Complete Part I unless not required to file this form. See General Information B and C.Part I 1Gross sales or receipts from other sources. From Side 2, Part II, line 8 . . . . . . . . . . . . . . . . . . . . . @ 1 2Gross dues and assessments from members and affiliates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 2 3Gross contributions, gifts, grants, and similar amounts received. . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 3 Total gross receipts for filing requirement test. Add line 1 through line 3. 4Receipts and 4This line must be completed. If the result is less than $50,000, see General Information B. . . @ Revenues 5Cost of goods sold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @5 66 Cost or other basis, and sales expenses of assets sold . . . . . . . @ 7Total costs. Add line 5 and line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Total gross income. Subtract line 7 from line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @8 8 9Total expenses and disbursements. From Side 2, Part II, line 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . @9Expenses 10Excess of receipts over expenses and disbursements. Subtract line 9 from line 8. . . . . . . . . . . . @10 1111 Total payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1212 Use tax. See General Information K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 13 Payments balance. If line 11 is more than line 12, subtract line 12 from line 11. . . . . . . . . . . . . . @ 13Payments 1414 Use tax balance. If line 12 is more than line 11, subtract line 11 from line 12. . . . . . . . . . . . . . . . @ 1515 Penalties and interest. See General Information J. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 16>Balance due. Add line 12 and line 15. Then subtract line 11 from the result. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, Sign correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Title DateHere Telephone@Signature
Gof officer
Date PTIN Check if @
Preparer's self-Gsignature employed GPaid
Firm's FEIN@Preparer's
Firm's nameUse Only (or yours, if Gself-employed)
Telephoneand address @
May the FTB discuss this return with the preparer shown above? See instructions. . . . . . . . . . . . . . . . . . . . . . @ Yes No CACA1112L 01/14/25
3651244 Form 199 2024 Side 1For Privacy Notice, get FTB 1131 EN-SP. 059 7/01/2024 6/30/2025
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION 2011023
31-1611044
1500 WARBURTON AVENUE
SANTA CLARA CA 95050-3713
X XX
X
N/A
X
X
X
X X
X X
1,442,122.
1,442,122.
1,442,122.
1,406,100.
36,022.
0. DIR. OF FINANCE (408) 615-2368
VIKKI C RODRIGUEZ P00685455
MAZE & ASSOCIATES
3478 BUSKIRK AVE STE 217 94-2590179
PLEASANT HILL, CA 94523
(925) 228-2800
X
3/16/2026
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Organizations with gross receipts of more than $50,000 and private foundationsPart II regardless of amount of gross receipts ' complete Part II or furnish substitute information. 1Gross sales or receipts from all business activities. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . @ 1 2Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 2 3Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 3Receipts 4Gross rents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 4from Other 5Gross royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @5Sources 6Gross amount received from sale of assets (See instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @6 7Other income. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @7 8Total gross sales or receipts from other sources. Add line 1 through line 7. Enter here and on Side 1, Part I, line 1. . . . . . . .8 Contributions, gifts, grants, and similar amounts paid. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @9 9 Disbursements to or for members. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1010 Compensation of officers, directors, and trustees. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1111 Other salaries and wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1212 Expenses Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1313and Disburse- Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1414 ments Rents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1515 Depreciation and depletion (See instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 1616 17Other expenses and disbursements. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @17 18Total expenses and disbursements. Add line 9 through line 17. Enter here and on Side 1, Part I, line 9. . . . . . . . . . . . . . . . .18 Balance Sheet Beginning of taxable year End of taxable yearSchedule L (a) (b) (c) (d)Assets
@Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 @Net accounts receivable. . . . . . . . . . . . . . . . . . . . . . .2 @Net notes receivable. . . . . . . . . . . . . . . . . . . . . . . . . .3 @Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 @Federal and state government obligations. . . . . . . . . .5 @Investments in other bonds . . . . . . . . . . . . . . . . . . . .6 @Investments in stock . . . . . . . . . . . . . . . . . . . . . . . . .7 @Mortgage loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 @Other investments. Attach schedule. . . . . . . . . . . . . . .9 10a Depreciable assets. . . . . . . . . . . . . . . . . . . . . . . . . . . b Less accumulated depreciation. . . . . . . . . . . . . . . . . . @Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 @Other assets. Attach schedule. . . . . . . . . . . . . . . . . . . 12 13 Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Liabilities and net worth
@Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . .14 @Contributions, gifts, or grants payable. . . . . . . . . . . . .15 @Bonds and notes payable. . . . . . . . . . . . . . . . . . . . . . 16 @Mortgages payable. . . . . . . . . . . . . . . . . . . . . . . . . . .17 Other liabilities. Attach schedule. . . . . . . . . . . . . . . . .18 @Capital stock or principal fund. . . . . . . . . . . . . . . . . .19 @Paid-in or capital surplus. Attach reconciliation. . . . . .20 @Retained earnings or income fund. . . . . . . . . . . . . . . .21 Total liabilities and net worth . . . . . . . . . . . . . . . . .22 Reconciliation of income per books with income per returnSchedule M-1 Do not complete this schedule if the amount on Schedule L, line 13, column (d), is less than $50,000. @Net income per books. . . . . . . . . . . . . . . . . . . . . . . . Income recorded on books this year not included 1 7 @ @Federal income tax. . . . . . . . . . . . . . . . . . . . . . . . . . in this return. Attach schedule. . . . . . . . . . . . 2 @ Deductions in this return not charged 8Excess of capital losses over capital gains. . . . . . . . . 3 against book income this year.Income not recorded on books this year. 4 @ @Attach schedule. . . . . . . . . . . . . . . . . . . . . . .Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total. Add line 7 and line 8 . . . . . . . . . . . . . .9Expenses recorded on books this year not deducted 5 @ 10 Net income per return.in this return. Attach schedule. . . . . . . . . . . . . . . . .
Subtract line 9 from line 6. . . . . . . . . .Total. Add line 1 through line 5. . . . . . . . . . . . . . . . . 6 CACA1112L 01/14/253652244Side 2 Form 199 2024 059
CITY OF SANTA CLARA PUBLIC FACILITIES 31-1611044
36,182.
1,405,940.
1,442,122.
0. 319,775.
1,086,325.
1,406,100.
785,417. 821,439.
9,475,800. 8,336,503.
10,261,217. 9,157,942.
9,475,800. 8,336,503.
785,417. 821,439.
10,261,217. 9,157,942.
36,022.
36,022. 36,022.
SEE STATEMENT 1
SEE STMT 2
SEE STATEMENT 3
STM 4
ST 5
J
l
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2024 CALIFORNIA STATEMENTS PAGE 1
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION 31-1611044
STATEMENT 1
FORM 199, PART II, LINE 7
OTHER INCOME
PROGRAM SERVICE REVENUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,405,940.
TOTAL $ 1,405,940.
STATEMENT 2
FORM 199, PART II, LINE 11
COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES CURRENT OFFICERS:
TITLE AND TOTAL CONTRI- EXPENSE
AVERAGE HOURS COMPEN- BUTION TO ACCOUNT/
NAME AND ADDRESS PER WEEK DEVOTED SATION EBP & DC OTHER ALBERT GONZALEZ BOARD MEMBER $ 0. $ 0. $ 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
KEVIN N. PARK BOARD MEMBER 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
RAJ CHAHAL BOARD MEMBER 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
KAREN HARDY BOARD MEMBER 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
KELLY G. COX BOARD MEMBER 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
SUDHANSHU JAIN VICE PRESIDENT 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
LISA M. GILLMOR PRESIDENT 0. 0. 0.
1500 WARBURTON AVENUE 0.50
SANTA CLARA, CA 95050-3713
JOVAN GROGAN EXECUTIVE DIR. 0. 0. 0.
1500 WARBURTON AVENUE 0.10
SANTA CLARA, CA 95050-3713
KENN LEE DIR. OF FINANCE 0. 0. 0.
1500 WARBURTON AVENUE 0.10
SANTA CLARA, CA 95050-3713
NORA PIMENTAL SECRETARY 0. 0. 0.
1500 WARBURTON AVENUE 0.10
SANTA CLARA, CA 95050-3713
TOTAL $ 0.
$0 . $0 .
2024 CALIFORNIA STATEMENTS PAGE 2
CITY OF SANTA CLARA PUBLIC FACILITIES
FINANCING CORPORATION 31-1611044
STATEMENT 3
FORM 199, PART II, LINE 17
OTHER EXPENSES
BOND COST EXPENSE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,325.
PRINCIPAL DEBT PAYMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,085,000.
TOTAL $ 1,086,325.
STATEMENT 4
FORM 199, SCHEDULE L, LINE 12
OTHER ASSETS
NET INVESTMENT IN LEASE
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,336,503.
TOTAL $ 8,336,503.
STATEMENT 5
FORM 199, SCHEDULE L, LINE 16
BONDS AND NOTES PAYABLE
TAX-EXEMPT BONDS BALANCE DUE
PURPOSE OF ISSUE: CENTRAL PARK LIBRARY REFUNDING
ISSUE DATE: 3/28/2013
ORIGINAL ISSUE AMOUNT: 19,571,640.
TYPE OF FORM FILED: FORM 8038-G
FORM 8038 FILING DATE: 3/28/2013
OUTSTANDING ISSUE AMT: 8,336,503.
TOTAL TAX-EXEMPT BONDS $ 8,336,503.
TOTAL NOTES AND BONDS PAYABLE $ 8,336,503.
City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
26-373 Agenda Date: 4/21/2026
REPORT TO COUNCIL
SUBJECT
Action on Monthly Financial Status and Investment Reports for February 2026 and Approval of the Related Budget Amendments
BACKGROUND
In compliance with the Charter of the City of Santa Clara and the adopted Investment Policy, the monthly financial report and monthly investment report for February 2026 are submitted for your information. The financial reviews, as of February 28, 2026, provide a year-to-date financial update to the City Council for fiscal year 2025/26. The analysis of the revenues collected and all expenditures measures the level of adherence to the established resource allocation plan and allows the City to monitor and project revenues and expenditures throughout the year.
The Budget incorporates the estimated revenues and planned expenditures for all funds. The attached Financial Status Report provides the budget to actual revenue and expenditure summaries for the General Fund, Special Revenue Funds, Enterprise Funds and Internal Service Funds, as well as expenditure summaries for Capital Improvement Funds and Fund Reserve Balances. Any significant variances are explained in the reports.
In accordance with City Council Policy 051 - Donations to the City, a monthly activity and annual summary of donations received by department is included in these reports. Although the requirement of the policy is to report quarterly, the City has been including this information monthly along with the financial status report.
DISCUSSION
Monthly Financial Status Report (Attachment 1)
The attached Monthly Financial Status Report summarizes the City’s financial performance as of February 28, 2026 (Attachment 1). This report provided financial analysis for the General Fund, select Special Revenue Funds, Internal Service Funds, Enterprise Operating Funds, and Capital Improvement Funds.
Monthly Financial Status Report shows that General Fund revenues (excluding transfers) at 60% of the budget through February 2026. In some cases, such as property tax, most payments are scheduled to occur later in the fiscal year. Based on the prior year performance and collections through February, General Fund revenues are currently tracking to exceed the budget. As shown in Monthly Financial Status Report, General Fund expenditures (excluding transfers) were at 62.5% through February 2026 and are projected to end the year with savings.
As shown in Monthly Financial Status Report, total revenues for Enterprise Funds (Electric, Water, City of Santa Clara Printed on 4/17/2026Page 1 of 4
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26-373 Agenda Date: 4/21/2026
Sewer, Cemetery, Solid Waste, and Water Recycling) were at 51.5% of the budget through February 28, 2026, while total expenses were at 59.8%.
In February, donations of $100 were received, bringing total donations to $46,794.
The Spring 2026 UCLA Anderson Forecast points to a shift in economic momentum since late 2025 with strong projected economic growth approaching 3% in 2026. This growth is expected to be driven by income tax cuts, expansion of fiscal stimulus, and artificial intelligence investment. The Iran war, however, has resulted in greater economic uncertainty, with economists pointing to the negative impacts on gas prices, inflation, consumer spending, and employment as well lower economic growth projections. The war has also led to significant financial market volatility.
In the second estimate for the fourth quarter of 2025, the Gross Domestic Product (GDP) increased at an annual rate of 0.7%, following a GDP increase of 4.4% in the third quarter 2025. On a national level, the unemployment rate changed little from 4.3% in January to 4.4% in February 2026. In February, the number of unemployed persons totaled 7.6 million, an increase from 7.4 million in January. The California unemployment rate changed little from 5.6% to 5.5% between November and December 2025. The unadjusted unemployment rate in the San José-Sunnyvale-Santa Clara Metropolitan Statistical Area (MSA) was 4.0% in December 2025, down slightly from a revised 4.3% in November 2025, and unchanged from the December 2024 level of 4.0%.
Staff will continue to closely monitor the General Fund revenues and the City’s overall financial performance.
Monthly Investment Report (Attachment 2)
All securities held by the City of Santa Clara as of February 28, 2026 were in compliance with the City’s Investment Policy Statement regarding current market strategy and long-term goals and objectives. All securities held are rated “A” or higher by two nationally recognized rating agencies.
There are adequate cash flow and maturity of investments to meet the City’s needs for the next six months.
The City’s investment strategy for February 2026 was to invest funds not required to meet current obligations in securities listed in the prevailing Investment Policy Statement, with maturities not to exceed five years from the date of purchase. This strategy ensures safety of the City’s funds and provides liquidity to meet the City’s cash needs. There was a reasonable portfolio return of 4.11% in February.
The Monthly Investment Report also includes a Statement of Transactions, following the Investment Inventory, in accordance with California Municipal Treasurers Association investment policy guidelines.
ENVIRONMENTAL REVIEW
The actions being considered do not constitute a “project” within the meaning of the California Environmental Quality Act (“CEQA”) pursuant to section 15378(b)(4) of Title 14 of the California Code of Regulations in that they are fiscal activities that do not involve any commitment to any specific project which may result in a potential significant physical impact on the environment.
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26-373 Agenda Date: 4/21/2026
FISCAL IMPACT
From time to time, adjustments to the budget are required to reflect new information, align budgets with actual revenues and expenses, and correct for inadvertent errors. The recommended budget adjustment is described in Attachment 3 and summarized below:
· General Fund
- recognizes wildland reimbursements and appropriates the funds to the Fire Department;
· Building Development Services Fund - increases the materials, services, supplies budget, offset by a reduction to the unrestricted ending fund balance; · Fire Certified Unified Program Agency (CUPA) Fund - recognizes CUPA enforcement fines and appropriates a portion of the funding to the Fire Department. An action is also included to establish a restricted CUPA Enforcement Fines Reserve, allocating the remaining revenue to this restricted balance; and
· Library Operating Grant Trust Fund
- recognizes grant funding and establishes a new Pacific Library Partnership California Library Services Act grant appropriation.
COORDINATION
This report has been coordinated with the City Attorney’s Office.
PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected]
or at the public information desk at any City of Santa
Clara public library.
RECOMMENDATION
1. Note and file the Monthly Financial Status Report and Monthly Investment Report for February 2026 as presented; and
2. Approve the Fiscal Year 2025/26 budget amendments in the following funds (as detailed in the Fiscal Impact section of the staff report and Attachment 3 of the staff report):
a. In the General Fund, recognizes wildland reimbursement revenue and appropriates the funds to the Fire Department, with a net impact of $227,315;
b. In the Building Development Services Fund, increases the Materials, Services, Supplies budget and decreases the unrestricted ending fund balance, with a net impact of $0; c. In the Fire Certified Unified Program Agency (CUPA) Fund, recognizes enforcement fine revenue and appropriates a portion of the funding to the Fire Department, establishes a restricted CUPA Enforcement Fines Reserve, allocating the remaining revenue to this reserve, with a net impact of $119,200; and
d. In the Library Operating Grant Trust Fund, recognizes grant funding and establishes a Pacific Library Partnership California Library Services Act grant appropriation, with a net impact of $3,711.
Items 2a - 2d, five affirmative Council votes required to appropriate additional revenue and for the use of unused balances.
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26-373 Agenda Date: 4/21/2026
Reviewed by: Kenn Lee, Director of Finance
Approved by: Jovan D. Grogan, City Manager
ATTACHMENTS
1. Monthly Financial Status Report - February 2026
2. Monthly Investment Report - February 2026
3. FY 2025/26 Budget Amendments
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_____________________________________________________________________
MONTHLY FINANCIAL STATUS REPORT
February 2026
City of
Santa Clara
The Center of What 's Possible
1 City of Santa Clara
Financial Status Report as of February 28, 2026
This report summarizes the City’s financial performance for the month ended February 28, 2026.
Financial analysis for the report is provided for the General Fund, select Special Revenue Funds, Enterprise Operating Funds, Internal Service Funds, and Capital Improvement Funds. Financial information included in this report is unaudited.
Economic Outlook
The Spring 2026 UCLA Anderson Forecast points to a shift in economic momentum with strong projected economic growth approaching 3% in 2026. “After momentarily stuttering in 2025 in the face of the highest tariff rates in a century, the U.S. economy is expected to resume a brisk pace of nearly 3% GDP growth in 2026. This expansion is fueled by significant fiscal stimulus, through income tax cuts, looser financial conditions, and an expanding boom in AI capital expenditures. Supporting this growth in demand are the continued gains in productivity observed since the post-pandemic recovery. While the labor market is projected to strengthen in response to rising demand, restrictive immigration policies will continue to limit its overall rate of expansion.
The aggregate strength of the economy masks significant underlying vulnerabilities that should not be ignored. Delinquency rates on credit cards and auto loans are concerningly high. Simultaneously, small businesses have seen shrinking employment as they struggle with the elevated cost of goods driven by tariffs and labor shortages linked to deportations. The residential real estate sector remains largely paralyzed by a dual stagnation of demand and supply; meanwhile, new construction inventories are beginning to pile up, placing downward pressure on home prices. Consequently, consumer sentiment remains at levels typically observed only
during recessions, highlighting a deep
disconnect between macroeconomic
indicators and the financial reality of many
Americans.”
1 The UCLA Forecast assumes real Gross
Domestic Product (GDP) growth of
approaching 3.0% in 2026, driven by
growth in personal consumption and
continued capital investment, including
investment in AI infrastructure and
equipment.
Lower GDP growth is expected
in 2027 and 2028 with increases in the
low- to mid- 2% range as the AI
infrastructure buildout begins to taper and
the fiscal landscape becomes more
restrained with spending cuts taking effect,
particularly to Medicaid and SNAP.
1 UCLA Anderson Forecast for the Nation, Spring 2026 Report: From Tariff Hikes to Income Tax Cuts Quarterly Real GDP Growth Forecast
(Seasonally Adjusted Annual Rates)
GDP Growth Forecast
5 ir 4
:'.?
~
#- 3
~
ti)
c:c:
~ 2
1111
~
1. e
I
" 0... 1
0 " ~
& 0
- 1
Sources: Bureau of Economic Analysis, UCLA Anderson Forecast
2 City of Santa Clara
Financial Status Report as of February 28, 2026
The war in Iran has resulted in greater economic uncertainty, with economists pointing to the negative impacts on gas prices, inflation, consumer spending, GDP growth, and employment as well lower economic growth projections. The war has also led to significant financial market volatility.
In the second estimate for the fourth quarter of 2025, the Gross Domestic Product (GDP) increased at an annual rate of 0.7%, following a GDP increase of 4.4% in the third quarter. The increase in real GDP primarily reflected increases in consumer spending and investments. These were offset by decreases in exports and government spending. Imports, which are a subtraction in the calculation of GDP, decreased.2
On a national level, the unemployment rate increased slightly from 4.3% in January to 4.4% in February 2026. In February, the number of unemployed persons totaled 7.6 million, an increase from 7.4 million in January 2026.3
2 https://www.bea.gov/news/2026/gdp-second-estimate-4th-quarter-and-year-2025 3 https://www.bls.gov/news.release/pdf/empsit.pdf
Real GDP, Percent Change From Preceding Quarter
Seasonally adjusted annual rates
5.0 4.0
3.0 2.0
1.0 0.0
-1 .0
Q3
2024
GDP Gross domestic product
U.S. Bureau of Economic Analysis
Q4
Chart 1. Unemployment rate, seasonally adjusted,
February 2024 - February 2026
Percent
5.5 5.0
4.5 4.0
3.5 3.0
-Ql
Feb-24 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 Note: Data for Octobe r 2025 were not collected due to the federal government shutdown .
-
Q2 Q3 Q4
2025
Chart 2. Nonfanm payroll employment over-the-month change, seasonally adjusted, February 2024 - February 2026
Thousands
300
200
100
0 -100
-200
Feb-24 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26
3 City of Santa Clara
Financial Status Report as of February 28, 2026
At the state level, the California unemployment rate changed little from 5.6% to 5.5% between November and December 2025. This rate is unchanged from the 5.5% rate in December 2024. Over the past year, California employers have lost 11,200 nonfarm jobs (0.1% decrease).4 The unadjusted unemployment rate in the San José-Sunnyvale-Santa Clara Metropolitan Statistical Area (MSA) was 4.0% in December 2025, down from a revised 4.3% in November 2025, and unchanged from the December 2024 level of 4.0%. Between December 2024 and December 2025, employment in this region decreased by 1,700 jobs, or 0.1%. The largest decreases were in professional and business services (down 8,600 jobs) and manufacturing (down 3,500 jobs). Notable employment increases were in private education and health services (up 7,100 jobs) and leisure and hospitality (up 1,900 jobs).5
General Fund
The General Fund is the major operating fund for the City and includes multiple programs, services, and activities for the residents and businesses of the City. The adopted budget for operating revenues and expenditures for fiscal year 2025/26 was $353.0 million. The amended budget for revenues and expenditures was adjusted to $384.2 million to reflect carryover encumbrances from fiscal year 2024/25 and various budget amendments approved by the City Council through February 2026.
General Fund revenues are tracking to exceed the budget and expenditures are tracking to end the year with savings.
4 https://edd.ca.gov/en/about_edd/news_releases_and_announcements/unemployment-december-2025/ 5 https://labormarketinfo.edd.ca.gov/file/lfmonth/sjos$pds.pdf
4 City of Santa Clara
Financial Status Report as of February 28, 2026
General Fund Revenues
As of February 28, 2026, $202.4 million, or 60% of General Fund revenue (excluding transfers) was received. Collections are tracking below par through February due to the timing of payments. In some cases, such as property tax, most payments are scheduled to occur later in the fiscal year. Transfers and use of reserves of $46.9 million have occurred as budgeted.
Adopted Budget
Amended
Budget
Actual Through
02/28/2026
Percentage
Received
Actual Through
02/28/2025
$
Change From
Prior Year
Percentage
Change
TAXES
Sales Tax 65,850,000$ 65,850,000$ 40,806,849$ 61.97% 39,805,276$ 1,001,573$ 2.52% Property Tax 101,181,000 101,181,000 51,527,754 50.93% 48,817,629 2,710,125 5.55% Transient Occupancy Tax 27,500,000 27,500,000 15,838,617 57.59% 13,077,398 2,761,219 21.11% Other Taxes 7,200,000 7,200,000 2,902,414 40.31% 3,342,104 (439,690) -13.16% Total Taxes 201,731,000 201,731,000 111,075,634 55.06% 105,042,407 6,033,227 5.74%
LICENSES & PERMITS
Business Licenses 6,200,000 6,200,000 4,414,764 71.21% 4,420,311 (5,547) -0.13% Building Permits - - 1,041,482 N/A 891,751 149,731 16.79% Fire Operation Permits 1,998,000 1,998,000 1,565,388 78.35% 1,503,844 61,544 4.09% Miscellaneous Permits 26,000 26,000 254 0.98% 74,112 (73,858) -99.66% Total Licenses & Permits 8,224,000 8,224,000 7,021,888 85.38% 6,890,018 131,870 1.91% FINES & PENALTIES 1,557,000 1,557,000 2,200,915 141.36% 1,533,214 667,701 43.55% INTERGOVERNMENTAL 580,000 1,028,764 796,556 77.43% 1,201,740 (405,184) -33.72% CHARGES FOR SERVICES 35,626,474 35,771,474 25,060,494 70.06% 22,985,416 2,075,078 9.03% SILICON VALLEY POWER TRANSFER 37,275,000 37,275,000 24,850,004 66.67% 23,643,399 1,206,605 5.10%
USE OF MONEY & PROPERTY
Interest 6,247,000 6,247,000 5,710,611 91.41% 2,862,383 2,848,228 99.51% Rent 13,107,611 13,536,011 9,722,090 71.82% 8,449,672 1,272,418 15.06% Total Use of Money & Property 19,354,611 19,783,011 15,432,701 78.01% 11,312,055 4,120,646 36.43% MISCELLANEOUS REVENUES 380,000 848,816 763,061 89.90% 552,035 211,026 38.23%
OTHER FINANCING SOURCES
Operating Transfer In - Storm Drain 1,454,000 1,454,000 1,454,000 100.00% 1,454,000 - 0.00% Operating Transfer In - Reserves 9,556,671 16,973,212 16,973,212 100.00% 13,950,549 3,022,663 21.67% Operating Transfer In - Fund Balances(1) 5,816,858 28,044,857 28,044,857 100.00% 6,162,369 21,882,488 355.10% Operating Transfer In - Miscellaneous 405,265 401,746 401,746 100.00% 2,201,534 (1,799,788) -81.75% Total Other Financing Sources 17,232,794 46,873,815 46,873,815 100.00% 23,768,452 23,105,363 97.21%
STADIUM OPERATION
Charges for Services 24,423,380 24,497,380 14,012,955 57.20% 10,373,922 3,639,033 35.08% Rent and Licensing 6,640,308 6,640,308 1,208,634 18.20% 7,612,194 (6,403,560) -84.12% Total Stadium Operation 31,063,688 31,137,688 15,221,589 48.88% 17,986,116 (2,764,527) -15.37% TOTAL GENERAL FUND 353,024,567$ 384,230,568$ 249,296,658$ 64.88% 214,914,852$ 34,381,805$ 16.00% (1) The Operating Transfer In - Fund Balances includes the carryover encumbrances of open purchase orders as of June 30, 2024 and mid year budget amendment from reserves.
Function
CITY OF SANTA CLARA
GENERAL FUND
REVENUE OVERVIEW AND COMPARISON BY TYPE
FISCAL YEAR 2025/26 PY REVENUE COMPARISON
5 City of Santa Clara
Financial Status Report as of February 28, 2026
General Fund Revenues
Sales Tax: The City of Santa Clara sales tax rate is 9.125%, of which the City receives 1.0%. As of February 28, 2026, $40.8 million has been recorded, which is 2.5% higher than prior year collection levels. Given the timing of payments, the sales tax receipts through February account for actual activity in the first two quarters (July through December 2025). In addition, $0.4 million has been received for the Proposition 172 Public Safety Sales Tax, which is consistent with the prior fiscal year.
In the first quarter of FY 2025/26 (July – September activity) receipts totaled $18.4 million. This collection level was 3.9% below the prior year receipts of $19.2 million for the first quarter of FY 2024/25. This decrease was the result of a 16.0% decrease in the Business-to-Business category, partially offset by growth in the remaining categories. In the second quarter of FY 2025/26 (October – December activity), receipts totaled $21.9 million and were up 8.6% from the same period last year.
This increase was primarily the result of a 30.2% increase in the County pool; these collections represented approximately 23% of the City’s sales tax receipts. The City business categories that experienced growth in the second quarter included Construction (up 42.0%), Transportation (up 2.9%), and General Retail (up 1.8%). This growth was partially offset by declines in food products (down
3.4%), and business to business (down 12.3%).
Given the strong performance to date and the strong performance in FY 2024/25, collections are tracking to exceed the budget estimate of $65.9 million. Collections are projected to exceed the budget by over $10 million based on the current data available and projections from the City’s sales tax consultant.
Property Tax: Through February, Property tax receipts totaled $51.5 million, up 5.6% from the prior year. The majority of property tax revenue is collected in the second half of the fiscal year. Based on information from the County of Santa Clara, property tax receipts are projected to end the year at $103.6 million, slightly above the Adopted Budget estimate of $101.2 million.
Transient Occupancy Tax (TOT): TOT is calculated as a percentage of City hotel/motel room charges. The City’s TOT rate is 13.5%. Through February 28, 2026, $15.8 million has been collected, which reflects a 21.1% increase when compared to the collection level in the prior year. Beginning July 2025, all hotels submit TOT payments monthly rather than a combination of monthly and quarterly payments, which will impact the collection pattern during this fiscal year. Based on the higher prior year collection level, current year receipts, and the anticipated impact from the Super Bowl and FIFA World Cup events, TOT revenue is projected to exceed the budgeted estimate by year-end by $3 million - $5 million.
Other Taxes: Includes franchise tax and documentary transfer tax. The City has collected $2.9 million through February, including franchise tax ($2.0 million) and documentary transfer tax ($0.9 million).
Receipts are tracking below last fiscal year’s collection levels of $3.3 million due to lower franchise tax collections.
6 City of Santa Clara
Financial Status Report as of February 28, 2026
Licenses & Permits: Includes business licenses, fire operation permits, and miscellaneous permits and fees. This category also includes a portion of building permits that are allocated for advanced planning. Licenses and permits revenue collections are tracking above par with receipts totaling $7.0 million, or 85.4% of the $8.2 million budget. This collection level is slightly higher than prior year receipts of $6.9 million. Business licenses receipts represent the majority of the collections to date at $4.4 million. Collections in this category are tracking on par with the prior year level but may end the year slightly below the $6.2 million budget.
Fines & Penalties: Includes collection charges (late fees), vehicle, parking, court fines, and miscellaneous penalty fines. The revenue collected in this category through February was $2.2 million, which is above the budget of $1.6 million and the prior year level collections of $1.5 million. The majority of the receipts are comprised of collection charges. The variance from the prior year is primarily due to higher collection charges, partially offset by a decrease in municipal fines collected.
Intergovernmental: Includes motor vehicle fees, state homeowner property tax relief, state mandated reimbursement and redistribution of land sale proceeds and ground leases from the Successor Agency.
Through February 28, 2026, $0.8 million has been collected in this category, which is 77.4% of the budget. This collection level is 33.7% lower than prior year levels; collections were higher last year due to wildland reimbursements. Motor vehicle fees total $0.2 million, slightly exceeding the budget, and the State reimbursement for homeowners property tax relief totals $0.1 million and is expected to reach the $0.2 million budget by year-end. The miscellaneous other agency revenues total $0.5 million, which primarily reflects the SB 90 reimbursements from the State for state-mandated programs delivered by the Police Department. These funds were appropriated to the Police Department as part of the July/August Monthly Financial Report actions that were approved by the City Council on October 21, 2025.
Charges for Services: Includes various plan check and zoning-related fees, engineering fees, administrative fees, and community service revenue from various recreational activities. Through February, collections totaled approximately $25.1 million or 70% of the budget. This reflects a 9.0% increase compared to last year’s collections, primarily due to higher receipts in engineering fees, interdepartmental charges, and planning and zoning fees.
Silicon Valley Power Transfer: In accordance with the City’s charter, Silicon Valley Power (SVP) pays
5.0% of gross revenues to the General Fund. Transfers throughout the year are based on the budgeted estimate and will be trued up at the end of the fiscal year based on actual performance. Based on the prior year collections and activity levels in SVP, receipts in this category are expected to exceed the budgeted estimate.
Use of Money & Property: Includes realized investment income and rental income. Collections of $15.4 million are higher than prior year levels in both categories. The increase in rental income reflects higher right-of-way collections and lease revenues. Interest collections came in nearly 100% higher than prior year levels due to several factors, including an increase in the size of the portfolio, the interest income distribution timing, a higher level of realized losses last fiscal year, and higher earnings
7 City of Santa Clara
Financial Status Report as of February 28, 2026
for certain securities. Receipts in this category are expected to exceed the budgeted estimate by approximately $3.0 million based on current collection trends.
Miscellaneous Revenues: Includes developer fees, donations, damage recovery, and one-time miscellaneous revenues. Through February, collections of $0.8 million are tracking at 89.9% the budget and are 38.2% above the prior year collections of $0.6 million.
Stadium Operation: Through February 28, 2026, $15.2 million has been collected through charges for services and rent. Of this amount, $3.4 million and $5.5 million represents public safety cost reimbursements for non-NFL events and NFL games, respectively. The City also received the ground lease payment of $1.2 million and general and administrative cost reimbursements of $1.5 million, both from the Stadium Authority. Reimbursements of $2.8 million have been received from the Bay Area Host Committee. Remaining collections of $0.8 million reflected parking permits.
8 City of Santa Clara
Financial Status Report as of February 28, 2026
General Fund Expenditures
As of February 28, 2026, $260.5 million or 67.8% of the General Fund operating budget had been expended, which is higher than prior year expenditure levels. Excluding transfers, expenditures totaled $206.4 million, or 62.5% of the budget, which is below par of 66.7%. Transfers of $54.1 million have occurred as budgeted. Overall, expenditures in the General Fund are within budgeted levels through February and are expected to end the year with savings.
Adopted Budget
Amended
Budget
Actual Through
02/28/2026
Percentage
Used
Actual Through
02/28/2025
$
Change From
Prior Year
Percentage
Change
GENERAL GOVERNMENT
Non-Departmental 20,501,477$ 19,788,144$ 10,838,193$ 54.77% 9,706,364$ 1,131,829$ 11.66% City Council 1,268,362 1,273,274 757,491 59.49% 702,546 54,945 7.82% City Clerk 1,761,474 1,763,949 1,142,395 64.76% 1,701,449 (559,054) -32.86% City Manager 5,859,758 6,942,349 3,870,495 55.75% 2,829,150 1,041,345 36.81% City Attorney 4,619,355 4,760,193 2,817,978 59.20% 1,911,136 906,842 47.45% City Auditor 1,075,554 1,167,005 528,161 45.26% 498,618 29,543 5.92% Human Resources 5,470,869 5,758,815 2,769,077 48.08% 2,732,494 36,583 1.34% Finance 20,897,522 21,598,708 12,778,058 59.16% 13,168,104 (390,046) -2.96% Total General Government 61,454,371 63,052,437 35,501,848 56.31% 33,249,861 2,251,987 6.77% PUBLIC WORKS 30,216,576 31,460,071 18,746,550 59.59% 16,691,226 2,055,324 12.31% COMMUNITY DEVELOPMENT 6,039,535 6,237,266 3,789,014 60.75% 3,137,319 651,695 20.77% PARKS AND RECREATION 24,548,978 25,373,495 15,434,058 60.83% 14,154,514 1,279,544 9.04%
PUBLIC SAFETY
Fire 70,335,667 70,849,167 46,828,763 66.10% 45,871,554 957,209 2.09% Police 99,261,544 100,299,895 66,477,958 66.28% 59,995,316 6,482,642 10.81% Total Public Safety 169,597,211 171,149,062 113,306,721 66.20% 105,866,870 7,439,851 7.03% LIBRARY 12,178,570 12,300,254 7,840,921 63.75% 7,845,887 (4,966) -0.06% DEPARTMENTAL TOTAL 304,035,241 309,572,585 194,619,112 62.87% 180,945,678 13,673,434 7.56%
OTHER FINANCING USES
Operating Transfer Out - Miscellaneous 1,062,675 1,635,973 1,635,973 100.00% 1,742,520 (106,547) -6.11% Operating Transfer Out - Debt Services 1,406,979 1,406,979 1,406,979 100.00% 1,405,940 1,039 0.07% Operating Transfer Out - Maintenance Dtrct 1,079,493 1,079,493 1,079,493 100.00% 977,546 101,947 10.43% Operating Transfer Out - Cemetery 1,078,109 1,078,109 1,078,109 100.00% 823,000 255,109 31.00% Operating Transfer Out - CIP 6,352,233 30,793,808 30,793,808 100.00% 14,436,988 16,356,820 113.30% Operating Transfer Out - Reserves 17,649,996 18,100, 112 18,100,112 100.00% 7,324,722 10,775,390 147.11% Total Other Financing Uses 28,629,485 54,094,474 54,094,474 100.00% 26,710,716 27,383,758 102.52% STADIUM OPERATION 20,359,841 20,563,508 11,769,477 57.23% 6,946,133 4,823,344 69.44% TOTAL GENERAL FUND 353,024,567$ 384,230,568$ 260,483,063$ 67.79% 214,602,527$ 45,880,536$ 21.38% Function
CITY OF SANTA CLARA
GENERAL FUND
EXPENDITURES OVERVIEW AND COMPARISON BY FUNCTION
FISCAL YEAR 2025/26 PY EXPENDITURES COMPARISON
9 City of Santa Clara
Financial Status Report as of February 28, 2026
General Fund Expenditures
Below is an explanation of certain budget to actual expenditure variances by program.
Non-Departmental: Includes expenditures that are not attributable to a single department, but a function of the City in general. Through February, expenditures totaled $10.8 million, or 54.8% of the budget, which is below par of 66.7%. Current year spend is tracking higher than prior year levels, primarily in the salaries and benefits and contractual services categories.
City Attorney: Actual expenditures through February totaled approximately $2.8 million, which is
59.2% of the budget, which is below par. Spending is higher than the total expenditures through the same time last fiscal year by 47.5% due to higher salaries and benefits costs.
City Clerk: Through February, actual expenditures were tracking slightly below budget at approximately $1.1 million or 64.8% of the budget. This spend is 32.9% lower than prior year levels due to one-time election costs incurred in February 2025.
City Council: Through February, expenditures of $0.8 million were at 59.5% of budget, which is below par. Compared to the same period through last fiscal year, this reflects a 7.8% increase in expenditures, resulting from higher salary and benefits and conference, training and travel spend. This is partially offset by lower spending for as-needed staff.
City Manager: The actual expenditures through February totaled $3.9 million, or 55.8% of the budget, which is below par for this time of the year. Expenditures are approximately 36.8% higher compared with the spending level during the same period last fiscal year. This is due to higher spend in the salaries and benefits and contractual services categories.
Community Development Department: This department consists of three divisions: Planning, Building, and Housing and Community Services. The Building Division of this department is reflected in the Building Development Services Fund, which falls under the special revenue section of this report.
Through February, departmental expenditures for the Planning and Housing and Community Services divisions totaled $3.8 million, or 60.8% of the budget, which is below par of 66.7%. This expenditure level is 20.8% above the prior year as a result of higher salaries and benefits and contractual services spend.
Finance Department: Through February, the Department’s expenditures totaled $12.8 million, or
59.2% of the budget, which is below par. This expenditure level was approximately 3.0% lower compared to the same period last year. Higher salaries and benefits expenditures are offset by lower subscription and contractual services costs.
Fire Department: Through February, actual expenditures totaled $46.8 million, or 66.1% of the budget, which is at par. These expenditures are 2% above the spending level through the same period last fiscal year. Overtime expenditures are tracking at 153.3% of the budget, which is well above par for this time of year. Excluding reimbursable mutual aid-related overtime, the departmental overtime remains at approximately 146.5% of the budget. While this overtime figure is above par, it is important to note that
10 City of Santa Clara
Financial Status Report as of February 28, 2026
overtime is used to backfill for vacant positions and the vacancy savings offset a portion of the overtime costs.
Through February, absences are up 13% (from 53,772 to 61,012 hours) when compared with the prior fiscal year and remain above historical levels. Absences are trending high in the areas of Family and Medical Leave Act (FMLA) leave, disability leave, and industrial injury time. Employees can elect compensatory time over overtime pay when backfilling shift absences, which increases the need to backfill when the compensatory time is used. Through February, the compensatory time payouts total $1,491,272 which is above historical levels and 27% above the payouts of $1,175,670 experienced through February of last fiscal year. The Department will continue to monitor expenditures throughout the fiscal year, and any necessary budget adjustments will be brought forward for City Council consideration.
Library Department: Through February, actual expenditures totaled approximately $7.8 million, or
63.8% of the budget, which is slightly below par, but consistent with the prior year expenditure level.
Parks and Recreation Department: Through February, actual expenditures totaled $15.4 million, or
60.8% of the budget, which is below par, but 9.0% higher than prior year actuals of $14.2 million. This increase reflects higher spend in the salaries and benefits categories as well as operating supplies and contractual services costs.
Police Department: Expenditures through February are tracking at $66.5 million, or 66.3% of the budget; this is approximately 10.8% higher than prior year spending levels. The increase is mainly due to higher spend in the salaries and benefits, particularly in the overtime category. There is also higher spend in the operating supplies and capital outlay categories. The Department will continue to monitor expenditures throughout the fiscal year and any necessary budget amendments will be brought forward for City Council consideration.
Stadium Operation: Stadium operating expenditures are incurred first and billed on a reimbursement basis creating a timing difference in revenue recognition. Stadium expenditures of $11.8 million through February are tracking at 57.2% of the budget; this expenditure level is 69.4% above the prior fiscal year due planning and deployment activities related to the Super Bowl LX and FIFA World Cup 2026. Events at the Stadium through February include two soccer matches, four concerts, two preseason and eight regular season NFL games; these costs are fully reimbursed by the Stadium Manager and the Stadium Authority. February events also include Super Bowl LX and the community event: Celebrate Santa Clara. The Bay Area Host Committee also provides reimbursement for expenses incurred related to Super Bowl LX and FIFA World Cup 2026 planning costs.
11 City of Santa Clara
Financial Status Report as of February 28, 2026
Special Revenue Funds
The table below is a summary of revenues and expenditures of select Special Revenue Funds as of February 28, 2026. The amended budget reflects carryover encumbrances from fiscal year 2024/25 and budget amendments approved by the City Council through February 2026.
Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 2/28/2026 Received 2/28/2025 Prior Year Change Building Development Services Fee
Fund
16,736,000$ 16,736,000$ 13,528,164$ 80.83% 11,371,413$ 2,156,751$ 18.97% City Affordable Housing Fund 1,253,326 502,171 386,112 76.89% 539,663 (153,551) -28.45% Fire CUPA Fund 2,019,000 2,019,000 1,766,781 87.51% 153,680 1,613,101 1049.65% Fire Development Services Fee
Fund
3,429,000 3,429,000 2,857,482 83.33% 2,831,095 26,387 0.93% Housing and Urban Development 5,427,794 5,561,800 990,222 17.80% 1,693,123 (702,901) -41.52% Housing Authority Fund 281,088 281,088 373,733 132.96% 36,318 337,415 929.06% Housing Successor Fund 1,302,573 1,302,573 328,298 25.20% 851,686 (523,388) -61.45% TOTAL 30,448,781$ 29,831,632$ 20,230,792$ 67.82% 17,476,978$ 2,753,814$ 15.76% Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 2/28/2026 Use d 2/28/2025 Prior Year Change Building Development Services Fee
Fund
17,307,319$ 18,457,334$ 11,019,311$ 59.70% 10,173,268$ 846,043$ 8.32% City Affordable Housing Fund 6,984,995 7,292,572 883,887 12.12% 580,123 303,764 52.36% Fire CUPA Fund 1,779,867 1,783,637 1,016,354 56.98% 56,018 960,336 1714.33% Fire Development Services Fee
Fund
3,904,315 3,926,714 2,322,227 59.14% 2,361,463 (39,236) -1.66% Housing and Urban Development 5,427,794 5,720,995 1,522,259 26.61% 1,806,098 (283,839) -15.72% Housing Authority Fund 459,878 501,371 115,514 23.04% 108,935 6,579 6.04% Housing Successor Fund 1,127,973 1,347,976 571,324 42.38% 425,882 145,442 34.15% TOTAL 36,992,141$ 39,030,599$ 17,450,876$ 44.71% 15,511,787$ 1,939,089$ 12.50%
PRIOR YEAR EXPENDITURE COMPARISON
CITY OF SANTA CLARA
SPECIAL REVENUE FUNDS
REVENUE AND EXPENDITURES - OVERVIEW AND COMPARISON BY FUND REVENUE - FISCAL YEAR 2025/26 PRIOR YEAR REVENUE COMPARISON EXPENDITURES - FISCAL YEAR 2025/26
Through the end of February, revenues totaled $20.2 million, or 67.8% of the estimate, which is slightly above par of 66.7%, while expenditures totaled approximately $17.5 million, or 44.7%. Revenues in both the Building and Fire Development Services Funds and the Fire CUPA Fund are tracking above par. The Housing Authority Fund is tracking above budget and significantly above prior year levels due to additional interest paid on a housing loan, while revenue in the City Affordable Housing Fund is tracking below prior year levels. This is a result of a correction in booking for interest accrued on housing impact fees, which is now recorded in the City Affordable Housing Capital Fund. Expenditures are tracking higher in this fund when compared to prior years due to higher salaries and benefits and
12 City of Santa Clara
Financial Status Report as of February 28, 2026
contractual services spend. In the Housing Successor Agency Fund, contractual services spend is higher than prior years, while interest collections on housing loans have come in lower than prior years.
Internal Service Funds
The table below displays the expenditures in the internal service funds across the City. The amended budget reflects current year appropriations, prior year carryover, and budget amendments approved through February 2026. As of February 28, 2026, the internal service fund expenditures totaled $31.1 million, or 46% of the amended budget. The expenditure fluctuations in the Vehicle Replacement Fund are due to the timing of vehicle purchases throughout the year. The significant decrease in spend in the Communication Acquisitions Fund is a result of the replacement of public safety radios that occurred last fiscal year. In the Information Technology Services Fund, higher spend is attributable to the contractual services and capital outlay categories.
Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 2/28/2026 Use d 2/28/2025 Prior Year Change Communication Acquisitions Fund 1,064,336$ 1,642,638$ 476,389$ 29.00% 5,920,301$ (5,443,912)$ -91.95% Fleet Maintenance and Operations
Fund
6,757,227 7,417,317 4,255,329 57.37% 3,899,001 356,328 9.14% Information Technology Services
Fund
18,755,875 23,478,149 10,635,385 45.30% 7,206,303 3,429,082 47.58% Public Works Capital Projects
Management Fund
4,991,087 5,863,020 3,137,160 53.51% 2,666,178 470,982 17.67% Special Liability Fund 9,152,000 9,209,062 5,278,112 57.31% 4,775,452 502,660 10.53% Unemployment Insurance Fund 100,000 100,000 117,288 117.29% 55,682 61,606 110.64% Vehicle Replacement Fund 3,994,000 11,017,019 1,789,876 16.25% 5,422,380 (3,632,504) -66.99% Workers' Compensation Fund 6,858,000 8,858,000 5,375,077 60.68% 4,249,642 1,125,435 26.48% TOTAL 51,672,525$ 67,585,205$ 31,064,616$ 45.96% 34,194,939$ (3,130,323)$ -9.15%
CITY OF SANTA CLARA
INTERNAL SERVICE FUNDS
EXPENDITURES - OVERVIEW AND COMPARISON BY FUND
EXPENDITURES - FISCAL YEAR 2025/26 PRIOR YEAR EXPENDITURE COMPARISON
13 City of Santa Clara
Financial Status Report as of February 28, 2026
Governmental Capital Improvement Funds
The table below lists the revenue for selected capital improvement funds. The amended budget reflects current year appropriations, prior year carryover, and budget amendments approved through February 2026. As of February 28, 2026, the capital fund revenue totaled approximately $22.7 million. In the Parks and Recreation Capital Fund, $13.3 million represents MFA collections, $0.9 million represents Quimby Act fees received, with interest earnings accounting for the remaining collections. The revenue collected in the Related Santa Clara Fund represents developer contributions. The revenue shown in the Storm Drain Capital Fund is customer service charges. In the Tasman East Specific Infrastructure Fund, $2.0 million reflects impact fee collections, with interest earnings as the remaining collections.
The collections in the Streets and Highways Capital Fund are comprised of interest earnings, grant funding, fees, and VTA Measure B proceeds.
Actual
Fund Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 2/28/2026 Use d City Affordable Housing Capital Fund 211,155$ -$ 211,155$ 211,155$ 100.00% Parks & Recreation 10,197,016 - 10,197,016 15,725,003 154.21% Public Buildings 110,027 - 110,027 110,028 100.00% Related Santa Clara Developer 932,667 290,000 1,222,667 235,000 19.22% Storm Drain 1,623,993 2,984,107 4,608,100 1,042,178 22.62% Streets & Highways 15,652,769 19,942,011 35,594,780 3,289,699 9.24% Tasman East Specific Infrastructure
Improvement Fund
217,682 3,517,250 3,734,932 2,136,610 57.21% TOTAL 28,945,309$ 26,733,368$ 55,678,677$ 22,749,673$ 40.86%
CITY OF SANTA CLARA
GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS
REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND
REVENUE - FISCAL YEAR 2025/26
The table below lists the total amended budgeted amounts for expenditures in the Capital Improvement Funds. Similar to the revenue table, the amended expenditure budgets consist of current year appropriations, prior year carryover encumbrance balances in Governmental Capital Improvement Funds, and budget amendments approved through February 2026. As of February 28, 2026, capital fund expenditures totaled $32.6 million, or 9.8% of the amended budget. The table includes the Measure I General Obligation (GO) Bond funded projects. The current year budget reflects the first tranche of the GO bond proceeds, with approximately 2% spent. It is anticipated that the majority of these project appropriations will need to be carried over into FY 2026/27.
As part of the adoption of the FY 2025/26 and FY 2026/27 biennial operating budget, capital funds were carried over for projects that were not anticipated to be completed by June 30, 2025. Necessary
14 City of Santa Clara
Financial Status Report as of February 28, 2026
additional adjustments to the capital carryover amounts were included as part of the Budgetary Year- End Report for FY 2024/25, which was approved by the City Council in December 2025.
Actual
Fund Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 2/28/2026 Use d City Affordable Housing Capital Fund 4,944,484$ -$ 4,944,484$ -$ 0.00% Fire 500,866 1,854,028 2,354,894 573,004 24.33% General Gov't - Other 4,437,516 12,674,976 17,112,492 808,421 4.72% Library 24,642 653,161 677,803 14,536 2.14% Measure I General Obligation Bond
Fund
96,634,500 - 96,634,500 1,960,617 2.03% Parks & Recreation 6,073,116 40,887,990 46,961,106 1,362,358 2.90% Public Buildings 43,412,209 9,327,180 52,739,389 3,945,266 7.48% Related Santa Clara Developer 723,037 343,370 1,066,407 314,230 29.47% Storm Drain 911,490 8,707,187 9,618,677 851,381 8.85% Streets & Highways 20,063,576 76,260,521 96,324,097 21,292,966 22.11% Tasman East Specific Infrastructure
Improvement Fund
1,434,465 2,828,615 4,263,080 1,440,781 33.80% TOTAL 179,159,901$ 153,537,028$ 332,696,929$ 32,563,560$ 9.79% EXPENDITURES - FISCAL YEAR 2025/26
CITY OF SANTA CLARA
SUMMARY OF EXPENDITURES
GOVERNMENTAL CAPITAL IMPROVEMENT FUNDS
15 City of Santa Clara
Financial Status Report as of February 28, 2026
Enterprise Funds
The table below is a summary of revenues and expenses for the Enterprise Operating Funds as of February 28, 2026. Overall, revenues and expenditures are tracking below budgeted levels. Compared to prior year levels, revenues are tracking lower, whereas expenditures are tracking higher.
Actual Actual $
Fund Adopted Amended Th r ough Percentage Through Change From Percent Description Budget Budget 2/28/2026 received 2/28/2025 Prior Year Change Cemetery Fund 600,000$ 600,000$ 418,916$ 69.82% 397,885$ 21,031$ 5.29% Electric Utility Fund 1,128,195,241 1,128,195,241 559,033,280 49.55% 625,098,067 (66,064,787) -10.57% Sewer Utility Fund 52,407,375 52,425,510 37,346,187 71.24% 38,406,665 (1,060,478) -2.76% Solid Waste Utility Fund 42,287,613 42,287,613 26,779,636 63.33% 25,253,223 1,526,413 6.04% Water Recycling Fund 9,651,409 9,651,409 6,066,137 62.85% 7,875,808 (1,809,671) -22.98% Water Utility Fund 76,402,644 76,415,821 45,324,267 59.31% 42,401,163 2,923,104 6.89% TOTAL REVENUE 1,309,544,282$ 1,309,575,594$ 674,968,423$ 51.54% 739,432,811$ (64,464,388)$ -8.72% Actual Actual $
Fund Adopted Amended Through Percentage Through Change From Percent Description Budget Budget 2/28/2026 Use d 2/28/2025 Prior Year Change Cemetery Fund 1,757,102$ 1,774,177$ 730,835$ 41.19% 751,227$ (20,392)$ -2.71% Electric Utility Fund 712,617,141 723,337,626 432,682,316 59.82% 358,842,108 73,840,208 20.58% Sewer Utility Fund 43,738,253 44,110,349 32,933,571 74.66% 28,763,345 4,170,226 14.50% Solid Waste Utility Fund 42,061,065 46,374,375 25,289,676 54.53% 24,788,600 501,076 2.02% Water Recycling Fund 10,890,055 14,745,574 5,956,226 40.39% 7,889,507 (1,933,281) -24.50% Water Utility Fund 66,793,248 68,017,282 39,846,584 58.58% 38,342,773 1,503,811 3.92% TOTAL - Operating
Appropriations
877,856,864$ 898,359,383$ 537,439,208$ 59.82% 459,377,560$ 78,061,648$ 16.99%
CITY OF SANTA CLARA
ENTERPRISE OPERATING FUNDS
REVENUE AND EXPENSES - OVERVIEW AND COMPARISON BY FUND
REVENUE - FISCAL YEAR 2025/26 PRIOR YEAR REVENUE COMPARISON PRIOR YEAR EXPENSE COMPARISONEXPENDITURES - FISCAL YEAR 2025/26
Revenues in the electric (which also includes the Electric Debt Service Fund), water, sewer (which also includes the Sewer Debt Service Fund) and water recycling funds are primarily from customer service charges. The activity levels for these customer service charges also impact the resource and production costs on the expenditure side for these funds. In the Electric Utility Fund, the significant decrease in revenue is attributable to bond proceeds received last fiscal year. While not included in this report, budget actions for the Electric Utility Fund are expected to be brought forward before the end of FY 2025/26. Expenditures in this fund are expected to end the year above budget due higher power purchase and production costs, which are driven by higher load. It is anticipated that higher revenues will offset these higher costs. Staff will continue to monitor the spend and will bring forward any budget adjustments as needed. Revenue in the Water Recycling Fund is lower than prior year levels due to a reimbursement received last fiscal year. The expenditures in this fund are lower due to the timing of resource/production payments, as the third quarter payment has not yet been recorded. Expenditures
16 City of Santa Clara
Financial Status Report as of February 28, 2026
in the Sewer Utility Fund are tracking higher than prior year levels due to higher operations and maintenance payments made for the Regional Wastewater Facility.
A summary of revenue and expenses in the Enterprise Capital Improvement Funds is detailed in the tables below. Actual revenue through February 28, 2026, totaled $25.8 million, consisting primarily of developer contributions in the Electric Utility Fund and sewer fees in the Sewer Utility Fund. Enterprise capital fund expenses totaled $82.3 million, or 9.6% of the amended budget. Similar to the general government capital funds, capital funds were carried over from FY 2024/25 as part of the FY 2025/26 and FY 2026/27 budget adoption process for those projects that were not expected to be completed by June 30, 2025. Additional necessary adjustments to the capital carryover amounts based on actual year-end expenditures were included in the Budgetary Year-End Report for FY 2024/25, which was approved by the City Council in December 2025. These actions are reflected in the table below.
17 City of Santa Clara
Financial Status Report as of February 28, 2026
Actual
Fund Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 2/28/2026 Use d Electric Utility Fund 27,041,043$ 13,091,676$ 40,132,719$ 19,438,413$ 48.44% Sewer Utility Fund - - - 6,282,800 N/A Solid Waste Utility Fund 260,653 243,847 504,500 6,606 1.31% Street Lighting (1) - - - 11,695 N/A Water Utility Fund - - - 39,760 N/A TOTAL - Revenue 27,301,696$ 13,335,523$ 40,637,219$ 25,779,274$ 63.44% Actual
Fund Current Year Prior Year Total Amended Through Percentage Description Appropriation Carryforward Budget 2/28/2026 Use d Cemetery Fund 10$ 270,479$ 270,489$ -$ 0.00% Convention Center Capital
Fund
1,590,412 2,556,629 4,147,041 24,375 0.59% Electric Utility Fund 351,921,281 378,643,486 730,564,767 63,986,900 8.76% Sewer Utility Fund 47,606,403 37,208,230 84,814,633 6,195,111 7.30% Solid Waste Utility Fund 821,876 141,354 963,230 598,304 62.11% Street Lighting (1) 5,837,301 12,872,569 18,709,870 7,507,776 40.13% Water Recycling Fund 50,000 - 50,000 1,822 3.64% Water Utility Fund 15,033,219 6,891,151 21,924,370 4,011,953 18.30%
TOTAL - CIP
Appropriations
422,860,502$ 438,583,898$ 861,444,400$ 82,326,241$ 9.56%
CITY OF SANTA CLARA
ENTERPRISE CAPITAL IMPROVEMENT FUNDS
SUMMARY OF EXPENDITURES
EXPENSES - FISCAL YEAR 2025/26
CITY OF SANTA CLARA
ENTERPRISE CAPITAL IMPROVEMENT FUNDS
REVENUE - OVERVIEW AND COMPARISON BY SELECTED FUND
REVENUE - FISCAL YEAR 2025/26
(1) Street Lighting fund is part of Electric Capital Improvement Funds
18 City of Santa Clara
Financial Status Report as of February 28, 2026
Fund Reserves
By policy, City Council established the City’s General Contingency Reserve, under which reserves for Budget Stabilization and Capital Projects were established. • Budget Stabilization Reserve is set aside for weathering economic downturns, emergency financial crisis, or disaster situations. The reserve target is equal to the expenditures of the City’s General Fund operations for three months (90-day or 25% General Fund Adopted Operating Budget).
• Capital Projects Reserve earmarks funds for the Capital Improvement Program.
Other General Reserves and Enterprise Fund Reserves included in this report are highlighted as follows:
• Technology Fee Reserve is set aside to update and/or replace the City’s aging technology and to ensure internal controls are in compliance with current business standards and legal requirements.
• Land Sale Reserve is net proceeds from the sale of City-owned land, with interest earned on these funds available to be appropriated for General Fund operating expenditures. This reserve is available for appropriation by City Council action.
• The Electric Utility Rate Stabilization Reserve and Operations and Maintenance Reserve ensure sufficient operating cash is available to cover day-to-day expenses, address unforeseen cost increases or revenue shortfalls, and ensure debt service coverage. • The Replacement and Improvement Reserve in the Water and Sewer Utility Funds is for future capital improvement.
The table below summarizes select reserve balances.
19 City of Santa Clara
Financial Status Report as of February 28, 2026
DETAIL OF SELECTED FUND RESERVE BALANCES:
GENERAL
FUND ELECTRIC WATER
Budget Stabilization Reserve 81,450,116$
Capital Projects Reserve 21,383,432
Land Sale Reserve 18,561,159
Technology Fee Reserve 2,827,685
Electric Rate Stabilization Fund Reserve 78,000,000$
Electric Operations and Maintenance Reserve 377,000,000 Replacement & Improvement 303,090$
TOTALS 124,222,392$ 455,000,000$ 303,090$
CITY OF SANTA CLARA
RESERVE BALANCES
February 28, 2026
Donations to the City of Santa Clara
Donations received by department during the month of February 2026 and for fiscal year 2025/26 are shown in the table below.
Department Feb-26
Fis cal Year
2025/26
Year
To Date Designated Use
City Manager's Office - 150 H elp Your Neighbor Parks & Recreation - 24,170 Case Management Parks & Recreation - 2,699 Roberta Jones Jr. Theatre Parks & Recreation 100 19,775 Wade Brummal TOTALS 100$ 46,794$
_____________________________________________________________________
MONTHLY INVESTMENT REPORT
February 2026
City of
Santa Clara
The Center of What 's Possible
City of Santa Clara
Monthly Investment Report
TABLE OF CONTENTS
Page #
1 Summary of Investment Portfolio 1
2 Summary of Investments 5
3 Investment Maturity Distribution Schedule 6
4 Attachment A: Investment Inventory With Market Value 7 5 Attachment B: Statement of Transactions 12
1 CITY OF SANTA CLARA
SUMMARY OF INVESTMENT PORTFOLIO
All securities held by the City of Santa Clara as of February 28, 2026 were in compliance with the City's Investment Policy Statement regarding current market strategy and long-term goals and objectives. All securities held are rated A or higher by two nationally recognized rating agencies. There is adequate cash flow and maturity of investments to meet the City’s needs for the next six months.
The following table provides the breakdown of the total portfolio among the City, the Sports and Open Space Authority (SOSA), and the Housing Authority (HA) as of January31, 2026.
On February 28, 2026 the cost value and market value of the City's unrestricted pooled investment portfolio were $1,584,746,583 and $1,600,345,714 respectively.
Investment Strategy and Market Update
The January 27–28 Federal Open Market Committee (FOMC) minutes reinforced a “higher for longer” stance, with rate cuts contingent on clearer inflation progress. Some participants even supported a framework that allows for rate hikes if inflation remains above target. Most viewed the labor markets as stabilizing, though downside risks remain, suggesting the Federal Reserve (Fed) is likely to remain patient as it assesses incoming data.
The Core PCE index, the Fed’s preferred gauge of inflation, rose to 3.0% year over year in December, its highest level since April 2024. Tariff passthroughs continue to pressure prices, with durable core goods posting their fastest monthly price increase in four years.
The February jobs report surprised to the downside, with payrolls declining by 92,000 and the unemployment rate rising to 4.4%.
February’s weak report reverses the strong January report, further complicating the Fed’s path on interest rates. Jobless claims remain historically low and continue to suggest little layoffs.
U.S. real gross domestic product (GDP) for the fourth quarter of 2025 came in below expectations at 1.4%, with the Bureau of Economic Analysis estimating the government shutdown subtracted about a full percentage point from growth. Consumer spending and private investment remained resilient, signaling continued strength in private sector demand despite the headline miss.
The yield on 3-month, 2-year, and 10-year U.S. Treasuries ended the month at 3.66%, 3.37%, and 3.94%, representing a decrease of -1 bps, -15 bps, and -30 bps, respectively.
COST VALUE PERCENTAGE
City $1,583,367,153 99.91%
SOSA 10,483
0.00%
HA 1,368,947 0.09% Unrestricted $1,584,746,583 100.00%
Restricted Bond Proceeds 2,486,259
Total Investments $1,587,232,842
2 The City's investment strategy for February 2026 was to invest funds not required to meet current obligations, in securities listed in the prevailing Investment Policy Statement, with maturities not to exceed five years from date of purchase. This strategy ensures safety of the City’s funds, provides liquidity to meet the City’s cash needs, and earns a reasonable portfolio return. PFM Asset Management LLC began actively managing the City’s securities portfolio on September 1, 2020.
As of February 28, 2026 , 43.56% of the City’s portfolio consists of U.S. Treasury Notes, 18.61% consists of investment grade Corporate Notes , 17.48% consists of California Asset Management Program (CAMP) , 8.79% consists of investment grade Mortgage-Backed Securities, 7.20% consists of investment grade Asset -Back Securities, 3.55% consists of Local Agency Investment Fund (LAIF), and 0.47% consists of Negotiable Certificates of Deposit. In addition, City bond proceeds are invested in separate funds and are not included in the calculation of the City’s portfolio yield.
U.S. Treasury Notes
43.56%
Corporate Notes
18.61%
Asset-Backed Securities
7.20%
Negotiable Certificates of
Deposit
0.47%
Mortgage-Backed Securities
8.79%
Money Market Fund
0.18%
Local Agency
Investment Fund (LAIF)
3.55%
California Asset
Management Program
(CAMP)
17.48%
Mutual Fund - Traffic Mitigation
Bond Proceeds
0.16%
3 The City’s securities portfolio is benchmarked against the ICE BAML 1-5 US Treasury Index.
4.00%
4.13%
4.11%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
Feb-22 May-22 Aug-22 Nov-22 Feb-23 May-23 Aug-23 Nov-23 Feb-24 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 Securities Portfolio Yield at Cost vs Index 24-Month Average of Yield at Market Securities Portfolio (yield at cost)
City's Benchmark Index (24-month rolling average market yield) BofA 1-5 AAA-A Corp & Gov't Index (24-month rolling average market yield)
T T T T T T T T T
4 The following table summarizes the investment yields other information of the City’s investment portfolio components, along with comparable-maturity market indices. Also shown are the monthly interest income and aggregate year-to-date income.
Current Month
2/28/2026
Investment Yield
Liquidity Portfolio1 3.79%
LAIF average monthly yield 3.87%
Securities Portfolio2 4.13%
ICE BAML 1-5 US Treasury Index (24-month rolling average market yield) 4.00% ICE BAML 1-5 AAA-A US Corporate & Government Index (24-month rolling average market yield) 4.11%
City Portfolio (Liquidity + Securities) 4.07%
Investment Total Return*
Securities Portfolio 0.75%
ICE BAML 1-5 US Treasury Index 0.79%
ICE BAML 1-5 AAA-A US Corporate & Government Index 0.78%
Average Maturity of Investments (in years)
Liquidity Portfolio1 0.09
Securities Portfolio2 3.04
City Portfolio (Liquidity + Securities) 2.40
ICE BAML 1-5 US Treasury Index 2.73
ICE BAML 1-5 AAA-A US Corporate & Government Index 2.79
Cash Interest Income Current Month3 $ 5,275,629
Cash Interest Income Fiscal Year-To-Date3 $ 38,584,944
1. Consists of CAMP Pool, LAIF, Dreyfus Traffic Mitigation Fund, & Principal Sweep Account
2. Core long term portfolio managed by PFM Asset Management
3. Cash basis
* Total rate of return including earnings, distributions, and capital appreciation/depreciation of all portfolio assets
5 CITY OF SANTA CLARA
SUMMARY OF INVESTMENTS FEBRUARY 28, 2026
PER
COST % OF INVESTMENT
INVESTMENT TYPE VALUE PORTFOLIO POLICY
U.S. Treasury Notes 691,386,680 43.56% No Limit Corporate Notes 295,315,028 18.61% 25%(1) Asset-Backed Securities 114,324,379 7.20% 15%(1) Negotiable Certificates of Deposit 7,500,000 0.47% 30% Mortgage-Backed Securities 139,503,705 8.79% 15% Money Market Fund 2,883,779 0.18% 10% Per Fund Local Agency Investment Fund (LAIF) 56,414,735 3.55% $75 M California Asset Management Program (CAMP) 277,418,277 17.48% No Limit Mutual Fund - Traffic Mitigation Bond Proceeds 2,486,259 0.16% 10% Per Fund TOTAL INVESTMENTS $ 1,587,232,842 100.00%
(1) Combined Maximum Holdings cannot exceed 35% of portfolio dollars
6 INVESTMENT MATURITY DISTRIBUTION
AS OF FEBRUARY 28, 2026
UNRESTRICTED POOLED PORTFOLIO
MATURITY NUMBER OF
(IN MONTHS) COST VALUE INVESTMENTS DISTRIBUTION
DEMAND (a)
$ 276,716,791 (a) 3 17.46%
0 TO 6
81,761,347 9 5.16%
7 TO 12
10,479,295 3 0.66%
13 TO 18
163,170,320 20 10.30%
19 TO 24
167,791,730 20 10.59%
25 TO 30
121,648,035 24 7.68%
31 TO 36
147,277,925 28 9.29%
37 TO 42
166,546,126 24 10.51%
43 TO 48
153,790,790 29 9.70%
49 TO 54
140,768,503 21 8.88%
55 TO 60
104,915,329 16 6.62%
60+
49,880,392 1 3.15%
TOTAL
$ 1,584,746,583 198 100.00%
Average Maturity of Unrestricted Pool: 2.40 Years
(a) $20 million is earmarked for the City's Electric Utility power-trading.
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%
INVESTMENT MATURITY DISTRIBUTION
UNRESTRICTED POOLED PORTFOLIO
AS OF FEBRUARY 28, 2026
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City of Santa Clara Monthly Report
2/28/2026
Sector Description Issue Date Coupon Rate Maturity Date CUSIP Par Value S&P Rating Settle Date Cost Value YTM at Cost Market Value Unrealized G/L U.S. Treasury UNITED STATES TREASURY 4/15/2024 4.500% 4/15/2027 91282CKJ9 21,925,000.00 AA+ 11/20/2024 22,050,041.02 4.25% 22,163,105.50 113,064.48 U.S. Treasury UNITED STATES TREASURY 5/15/2017 2.375% 5/15/2027 912828X88 5,250,000.00 AA+ 8/8/2022 5,102,753.91 3.01% 5,180,910.00 78,156.09 U.S. Treasury UNITED STATES TREASURY 5/15/2024 4.500% 5/15/2027 91282CKR1 15,280,000.00 AA+ 12/18/2024 15,373,112.50 4.23% 15,459,692.80 86,580.30 U.S. Treasury UNITED STATES TREASURY 5/15/2024 4.500% 5/15/2027 91282CKR1 2,200,000.00 AA+ 9/17/2024 2,257,492.19 3.46% 2,225,872.00 -31,620.19 U.S. Treasury UNITED STATES TREASURY 6/17/2024 4.625% 6/15/2027 91282CKV2 27,665,000.00 AA+ 9/27/2024 28,426,868.16 3.55% 28,062,822.70 -364,045.46 U.S. Treasury UNITED STATES TREASURY 6/17/2024 4.625% 6/15/2027 91282CKV2 10,000,000.00 AA+ 10/16/2024 10,188,671.88 3.87% 10,143,800.00 -44,871.88 U.S. Treasury UNITED STATES TREASURY 6/17/2024 4.625% 6/15/2027 91282CKV2 5,020,000.00 AA+ 10/22/2024 5,102,947.66 3.96% 5,092,187.60 -10,760.06 U.S. Treasury UNITED STATES TREASURY 8/1/2022 2.750% 7/31/2027 91282CFB2 9,350,000.00 AA+ 9/14/2022 8,996,818.36 3.60% 9,260,146.50 263,328.14 U.S. Treasury UNITED STATES TREASURY 8/15/1997 6.375% 8/15/2027 912810FA1 9,390,000.00 AA+ 10/5/2023 9,913,052.34 4.78% 9,779,872.80 -133,179.54 U.S. Treasury UNITED STATES TREASURY 8/15/2017 2.250% 8/15/2027 9128282R0 4,540,000.00 AA+ 9/6/2022 4,304,310.16 3.40% 4,463,228.60 158,918.44 U.S. Treasury UNITED STATES TREASURY 9/30/2022 4.125% 9/30/2027 91282CFM8 7,495,000.00 AA+ 10/11/2024 7,546,528.13 3.88% 7,574,671.85 28,143.72 U.S. Treasury UNITED STATES TREASURY 9/30/2022 4.125% 9/30/2027 91282CFM8 3,785,000.00 AA+ 11/3/2022 3,760,308.79 4.27% 3,825,234.55 64,925.76 U.S. Treasury UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 42,865,000.00 AA+ 3/6/2025 43,036,439.69 4.02% 43,345,516.65 309,076.96 U.S. Treasury UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 16,115,000.00 AA+ 9/17/2024 16,442,335.94 3.43% 16,295,649.15 -146,686.79 U.S. Treasury UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 18,960,000.00 AA+ 10/11/2024 19,088,128.13 3.89% 19,172,541.60 84,413.47 U.S. Treasury UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 4,255,000.00 AA+ 12/13/2022 4,309,517.19 3.83% 4,302,698.55 -6,818.64 U.S. Treasury UNITED STATES TREASURY 10/31/2022 4.125% 10/31/2027 91282CFU0 4,750,000.00 AA+ 1/31/2023 4,833,310.55 3.72% 4,803,247.50 -30,063.05 U.S. Treasury UNITED STATES TREASURY 11/17/1997 6.125% 11/15/2027 912810FB9 3,100,000.00 AA+ 7/24/2024 3,288,058.59 4.14% 3,237,795.00 -50,263.59 U.S. Treasury UNITED STATES TREASURY 11/30/2022 3.875% 11/30/2027 91282CFZ9 7,130,000.00 AA+ 9/5/2024 7,182,917.97 3.63% 7,185,114.90 2,196.93 U.S. Treasury UNITED STATES TREASURY 1/3/2023 3.875% 12/31/2027 91282CGC9 7,325,000.00 AA+ 2/8/2023 7,335,270.52 3.85% 7,385,358.00 50,087.48 U.S. Treasury UNITED STATES TREASURY 1/3/2023 3.875% 12/31/2027 91282CGC9 4,850,000.00 AA+ 2/2/2023 4,906,078.13 3.62% 4,889,964.00 -16,114.13 U.S. Treasury UNITED STATES TREASURY 1/3/2023 3.875% 12/31/2027 91282CGC9 5,475,000.00 AA+ 1/31/2023 5,518,415.04 3.70% 5,520,114.00 1,698.96 U.S. Treasury UNITED STATES TREASURY 1/3/2023 3.875% 12/31/2027 91282CGC9 7,175,000.00 AA+ 9/27/2024 7,247,030.27 3.54% 7,234,122.00 -12,908.27 U.S. Treasury UNITED STATES TREASURY 1/31/2023 3.500% 1/31/2028 91282CGH8 855,000.00 AA+ 5/16/2023 855,400.78 3.49% 856,633.05 1,232.27 U.S. Treasury UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 8,080,000.00 AA+ 1/26/2024 8,002,541.98 4.05% 8,173,081.60 170,539.62 U.S. Treasury UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 2,450,000.00 AA+ 3/7/2023 2,422,820.31 4.25% 2,478,224.00 55,403.69 U.S. Treasury UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 5,215,000.00 AA+ 10/11/2024 5,230,685.74 3.90% 5,275,076.80 44,391.06 U.S. Treasury UNITED STATES TREASURY 2/28/2023 4.000% 2/29/2028 91282CGP0 7,360,000.00 AA+ 5/16/2023 7,532,500.00 3.46% 7,444,787.20 -87,712.80 U.S. Treasury UNITED STATES TREASURY 3/31/2023 3.625% 3/31/2028 91282CGT2 2,680,000.00 AA+ 5/4/2023 2,691,241.91 3.42% 2,692,462.00 1,220.09 U.S. Treasury UNITED STATES TREASURY 5/1/2023 3.500% 4/30/2028 91282CHA2 5,075,000.00 AA+ 5/2/2023 5,042,488.28 3.64% 5,086,114.25 43,625.97 U.S. Treasury UNITED STATES TREASURY 5/31/2023 3.625% 5/31/2028 91282CHE4 11,735,000.00 AA+ 6/5/2023 11,695,577.73 3.70% 11,794,144.40 98,566.67 U.S. Treasury UNITED STATES TREASURY 5/31/2023 3.625% 5/31/2028 91282CHE4 10,115,000.00 AA+ 3/3/2025 10,002,391.60 3.99% 10,165,979.60 163,588.00 U.S. Treasury UNITED STATES TREASURY 5/31/2023 3.625% 5/31/2028 91282CHE4 8,285,000.00 AA+ 1/26/2024 8,149,074.22 4.04% 8,326,756.40 177,682.18 U.S. Treasury UNITED STATES TREASURY 6/30/2023 4.000% 6/30/2028 91282CHK0 6,025,000.00 AA+ 7/10/2023 5,934,570.68 4.36% 6,108,325.75 173,755.07 U.S. Treasury UNITED STATES TREASURY 7/31/2023 4.125% 7/31/2028 91282CHQ7 4,950,000.00 AA+ 8/2/2023 4,921,962.89 4.25% 5,035,090.50 113,127.61 U.S. Treasury UNITED STATES TREASURY 8/31/2023 4.375% 8/31/2028 91282CHX2 2,900,000.00 AA+ 1/26/2024 2,936,527.61 4.03% 2,967,976.00 31,448.39 U.S. Treasury UNITED STATES TREASURY 10/31/2023 4.875% 10/31/2028 91282CJF9 5,900,000.00 AA+ 1/4/2024 6,140,839.84 3.94% 6,120,778.00 -20,061.84 U.S. Treasury UNITED STATES TREASURY 10/31/2023 4.875% 10/31/2028 91282CJF9 5,160,000.00 AA+ 1/8/2024 5,355,717.19 4.00% 5,353,087.20 -2,629.99 U.S. Treasury UNITED STATES TREASURY 11/16/1998 5.250% 11/15/2028 912810FF0 11,160,000.00 AA+ 9/17/2024 11,969,100.00 3.37% 11,696,684.40 -272,415.60 U.S. Treasury UNITED STATES TREASURY 11/15/2018 3.125% 11/15/2028 9128285M8 1,460,000.00 AA+ 1/22/2026 1,440,039.06 3.64% 1,450,130.40 10,091.34 U.S. Treasury UNITED STATES TREASURY 11/30/2023 4.375% 11/30/2028 91282CJN2 8,025,000.00 AA+ 1/26/2024 8,150,704.10 4.01% 8,229,717.75 79,013.65 U.S. Treasury UNITED STATES TREASURY 1/2/2024 3.750% 12/31/2028 91282CJR3 14,470,000.00 AA+ 1/19/2024 14,314,571.22 4.02% 14,609,635.50 295,064.28 U.S. Treasury UNITED STATES TREASURY 1/31/2024 4.000% 1/31/2029 91282CJW2 5,030,000.00 AA+ 2/14/2024 4,947,694.34 4.28% 5,114,101.60 166,407.26 U.S. Treasury UNITED STATES TREASURY 1/31/2024 4.000% 1/31/2029 91282CJW2 1,450,000.00 AA+ 2/13/2024 1,442,693.36 4.11% 1,474,244.00 31,550.64 U.S. Treasury UNITED STATES TREASURY 1/31/2024 4.000% 1/31/2029 91282CJW2 4,735,000.00 AA+ 9/5/2024 4,814,348.24 3.58% 4,814,169.20 -179.04 U.S. Treasury UNITED STATES TREASURY 2/16/1999 5.250% 2/15/2029 912810FG8 8,610,000.00 AA+ 7/24/2024 9,040,500.00 4.04% 9,077,178.60 36,678.60 U.S. Treasury UNITED STATES TREASURY 2/29/2024 4.250% 2/28/2029 91282CKD2 4,375,000.00 AA+ 9/27/2024 4,498,046.88 3.56% 4,480,437.50 -17,609.38 U.S. Treasury UNITED STATES TREASURY 2/29/2024 4.250% 2/28/2029 91282CKD2 2,850,000.00 AA+ 3/7/2024 2,867,923.83 4.11% 2,918,685.00 50,761.17 U.S. Treasury UNITED STATES TREASURY 4/1/2024 4.125% 3/31/2029 91282CKG5 10,050,000.00 AA+ 4/11/2024 9,938,900.39 4.37% 10,261,251.00 322,350.61 U.S. Treasury UNITED STATES TREASURY 4/30/2024 4.625% 4/30/2029 91282CKP5 16,425,000.00 AA+ 4/30/2024 16,412,167.97 4.64% 17,018,435.25 606,267.28 U.S. Treasury UNITED STATES TREASURY 4/30/2024 4.625% 4/30/2029 91282CKP5 5,625,000.00 AA+ 8/2/2024 5,809,570.31 3.86% 5,828,231.25 18,660.94 U.S. Treasury UNITED STATES TREASURY 5/31/2024 4.500% 5/31/2029 91282CKT7 4,950,000.00 AA+ 6/7/2024 4,993,892.58 4.30% 5,113,993.50 120,100.92 U.S. Treasury UNITED STATES TREASURY 7/1/2024 4.250% 6/30/2029 91282CKX8 24,360,000.00 AA+ 9/5/2024 25,072,406.07 3.58% 24,992,872.80 -79,533.27 U.S. Treasury UNITED STATES TREASURY 7/1/2024 4.250% 6/30/2029 91282CKX8 1,100,000.00 AA+ 8/15/2024 1,128,316.41 3.67% 1,128,578.00 261.59 3/13/2026 9:19 AM 1 of 5
Attachment A
City of Santa Clara Monthly Report
2/28/2026
Sector Description Issue Date Coupon Rate Maturity Date CUSIP Par Value S&P Rating Settle Date Cost Value YTM at Cost Market Value Unrealized G/L U.S. Treasury UNITED STATES TREASURY 7/1/2024 4.250% 6/30/2029 91282CKX8 16,955,000.00 AA+ 7/3/2024 16,858,965.82 4.38% 17,395,490.90 536,525.08 U.S. Treasury UNITED STATES TREASURY 7/1/2024 4.250% 6/30/2029 91282CKX8 7,590,000.00 AA+ 7/3/2024 7,538,411.72 4.40% 7,787,188.20 248,776.48 U.S. Treasury UNITED STATES TREASURY 7/31/2024 4.000% 7/31/2029 91282CLC3 9,575,000.00 AA+ 9/17/2024 9,819,237.30 3.43% 9,752,329.00 -66,908.30 U.S. Treasury UNITED STATES TREASURY 8/31/2022 3.125% 8/31/2029 91282CFJ5 10,650,000.00 AA+ 9/27/2024 10,429,095.70 3.59% 10,542,648.00 113,552.30 U.S. Treasury UNITED STATES TREASURY 9/3/2024 3.625% 8/31/2029 91282CLK5 12,700,000.00 AA+ 9/5/2024 12,736,214.84 3.56% 12,779,375.00 43,160.16 U.S. Treasury UNITED STATES TREASURY 9/3/2024 3.625% 8/31/2029 91282CLK5 1,870,000.00 AA+ 9/3/2024 1,864,156.25 3.69% 1,881,687.50 17,531.25 U.S. Treasury UNITED STATES TREASURY 9/30/2024 3.500% 9/30/2029 91282CLN9 5,575,000.00 AA+ 10/10/2024 5,481,792.97 3.87% 5,586,986.25 105,193.28 U.S. Treasury UNITED STATES TREASURY 9/30/2024 3.500% 9/30/2029 91282CLN9 5,185,000.00 AA+ 10/8/2024 5,101,756.45 3.86% 5,196,147.75 94,391.30 U.S. Treasury UNITED STATES TREASURY 10/31/2024 4.125% 10/31/2029 91282CLR0 3,175,000.00 AA+ 10/31/2024 3,172,395.51 4.14% 3,248,914.00 76,518.49 U.S. Treasury UNITED STATES TREASURY 10/31/2024 4.125% 10/31/2029 91282CLR0 1,140,000.00 AA+ 11/15/2024 1,131,539.06 4.29% 1,166,539.20 35,000.14 U.S. Treasury UNITED STATES TREASURY 12/2/2024 4.125% 11/30/2029 91282CMA6 5,200,000.00 AA+ 12/13/2024 5,202,893.00 4.22% 5,322,512.00 119,619.00 U.S. Treasury UNITED STATES TREASURY 12/2/2024 4.125% 11/30/2029 91282CMA6 2,700,000.00 AA+ 12/31/2024 2,672,472.66 4.36% 2,763,612.00 91,139.34 U.S. Treasury UNITED STATES TREASURY 12/2/2024 4.125% 11/30/2029 91282CMA6 4,950,000.00 AA+ 12/6/2024 4,958,894.53 4.08% 5,066,622.00 107,727.47 U.S. Treasury UNITED STATES TREASURY 1/31/2025 4.250% 1/31/2030 91282CMG3 5,100,000.00 AA+ 2/5/2025 5,081,200.85 4.33% 5,246,625.00 165,424.15 U.S. Treasury UNITED STATES TREASURY 1/31/2025 4.250% 1/31/2030 91282CMG3 10,000.00 AA+ 1/31/2025 9,970.70 4.32% 10,287.50 316.80 U.S. Treasury UNITED STATES TREASURY 1/31/2025 4.250% 1/31/2030 91282CMG3 1,115,000.00 AA+ 2/6/2025 1,115,261.33 4.24% 1,147,056.25 31,794.92 U.S. Treasury UNITED STATES TREASURY 2/28/2023 4.000% 2/28/2030 91282CGQ8 6,085,000.00 AA+ 3/6/2025 6,054,099.61 4.11% 6,205,300.45 151,200.84 U.S. Treasury UNITED STATES TREASURY 5/31/2023 3.750% 5/31/2030 91282CHF1 3,945,000.00 AA+ 6/5/2025 3,900,310.55 4.00% 3,986,146.35 85,835.80 U.S. Treasury UNITED STATES TREASURY 7/31/2025 3.875% 7/31/2030 91282CNN7 5,325,000.00 AA+ 8/28/2025 5,362,441.41 3.72% 5,408,602.50 46,161.09 U.S. Treasury UNITED STATES TREASURY 7/31/2025 3.875% 7/31/2030 91282CNN7 4,250,000.00 AA+ 8/20/2025 4,260,458.98 3.82% 4,316,725.00 56,266.02 U.S. Treasury UNITED STATES TREASURY 9/2/2025 3.625% 8/31/2030 91282CNX5 20,815,000.00 AA+ 9/3/2025 20,696,509.15 3.74% 20,923,238.00 226,728.85 U.S. Treasury UNITED STATES TREASURY 9/2/2025 3.625% 8/31/2030 91282CNX5 3,610,000.00 AA+ 9/11/2025 3,616,909.77 3.58% 3,628,772.00 11,862.23 U.S. Treasury UNITED STATES TREASURY 9/30/2025 3.625% 9/30/2030 91282CPA3 6,050,000.00 AA+ 10/31/2025 6,029,047.54 3.71% 6,080,976.00 51,928.46 U.S. Treasury UNITED STATES TREASURY 9/30/2025 3.625% 9/30/2030 91282CPA3 1,500,000.00 AA+ 10/2/2025 1,495,781.25 3.69% 1,507,680.00 11,898.75 U.S. Treasury UNITED STATES TREASURY 10/31/2023 4.875% 10/31/2030 91282CJG7 7,250,000.00 AA+ 11/20/2025 7,631,474.61 3.70% 7,672,530.00 41,055.39 U.S. Treasury UNITED STATES TREASURY 12/1/2025 3.500% 11/30/2030 91282CPN5 10,000,000.00 AA+ 12/5/2025 9,942,968.75 3.63% 9,994,500.00 51,531.25 U.S. Treasury UNITED STATES TREASURY 12/31/2025 3.625% 12/31/2030 91282CPR6 6,770,000.00 AA+ 1/5/2026 6,740,971.15 3.73% 6,801,209.70 60,238.55 U.S. Treasury UNITED STATES TREASURY 12/31/2025 3.625% 12/31/2030 91282CPR6 155,000.00 AA+ 12/31/2025 154,467.19 3.70% 155,714.55 1,247.36 U.S. Treasury UNITED STATES TREASURY 2/2/2026 3.750% 1/31/2031 91282CPW5 12,525,000.00 AA+ 2/5/2026 12,480,966.80 3.83% 12,652,254.00 171,287.20 U.S. Treasury UNITED STATES TREASURY 12/1/2025 3.750% 11/30/2032 91282CPM7 50,430,000.00 AA+ 12/23/2025 49,880,391.80 3.93% 50,566,161.00 685,769.20 U.S. Treasury Bond / Note Subtotal 687,560,000.00 691,386,679.89 697,484,358.85 6,097,678.96 Federal Agency Commercial
Mortgage-Backed Security FANNIE MAE-ACES 7/1/2023 4.181% 7/1/2028 3136BQDE6 8,020,351.82 AA+ 11/30/2023 7,709,249.68 5.14% 8,096,384.80 387,135.12 Federal Agency Commercial
Mortgage-Backed Security FANNIE MAE-ACES 7/1/2023 4.181% 7/1/2028 3136BQDE6 6,966,248.49 AA+ 7/31/2023 6,848,148.81 4.58% 7,032,288.48 184,139.67 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 1/1/2017 3.347% 11/1/2026 3137BTUM1 5,079,440.30 AA+ 5/24/2023 4,923,088.80 4.29% 5,055,566.93 132,478.13 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 5/1/2017 3.224% 3/1/2027 3137BXQY1 8,000,000.00 AA+ 8/18/2023 7,546,250.00 4.94% 7,952,080.00 405,830.00 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 7/1/2017 3.243% 4/1/2027 3137F1G44 4,545,000.00 AA+ 8/18/2023 4,285,260.35 4.93% 4,516,684.65 231,424.30 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 8/1/2017 3.117% 6/1/2027 3137F2LJ3 6,525,000.00 AA+ 8/22/2023 6,101,894.53 4.97% 6,473,974.50 372,079.97 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 7/1/2023 4.819% 6/1/2028 3137HACX2 7,500,000.00 AA+ 7/20/2023 7,574,910.00 4.59% 7,659,525.00 84,615.00 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 7/1/2023 4.777% 6/1/2028 3137HAD45 5,958,524.65 AA+ 7/27/2023 5,958,375.71 4.78% 6,006,192.85 47,817.14 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 10/1/2023 4.740% 8/1/2028 3137HAQ74 5,750,000.00 AA+ 10/19/2023 5,623,868.00 5.25% 5,874,890.00 251,022.00 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 2/1/2025 4.850% 1/1/2030 3137HJZY6 9,019,000.00 AA+ 2/27/2025 9,076,532.20 4.70% 9,357,843.83 281,311.63 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 4/1/2025 4.478% 1/1/2030 3137HKQC1 10,570,000.00 AA+ 4/10/2025 10,643,049.27 4.32% 10,832,453.10 189,403.83 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 4/1/2025 4.410% 1/1/2030 3137HKXJ8 4,010,000.00 AA+ 4/24/2025 4,009,859.65 4.41% 4,099,864.10 90,004.45 3/13/2026 9:19 AM 2 of 5
Attachment A
City of Santa Clara Monthly Report
2/28/2026
Sector Description Issue Date Coupon Rate Maturity Date CUSIP Par Value S&P Rating Settle Date Cost Value YTM at Cost Market Value Unrealized G/L Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 3/1/2025 4.430% 2/1/2030 3137HKPF5 5,960,000.00 AA+ 3/20/2025 5,959,934.44 4.43% 6,099,940.80 140,006.36 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 5/1/2025 4.513% 2/1/2030 3137HLJA1 4,285,000.00 AA+ 5/29/2025 4,284,880.02 4.51% 4,396,709.95 111,829.93 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 6/1/2025 4.348% 2/1/2030 3137HLXV9 11,370,000.00 AA+ 6/12/2025 11,369,590.68 4.35% 11,600,924.70 231,334.02 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 9/1/2025 4.361% 5/1/2030 3137HN4R6 7,245,000.00 AA+ 9/18/2025 7,353,573.57 4.01% 7,401,274.65 47,701.08 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 9/1/2025 4.421% 5/1/2030 3137HN6B9 6,945,000.00 AA+ 9/29/2025 7,048,959.71 4.06% 7,107,304.65 58,344.94 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 7/1/2025 4.329% 6/1/2030 3137HMC65 11,192,000.00 AA+ 7/17/2025 11,191,787.35 4.33% 11,423,002.88 231,215.53 Federal Agency Commercial
Mortgage-Backed Security
FHLMC MULTIFAMILY
STRUCTURED PASS THROU 2/1/2026 3.948% 1/1/2031 3137HQDM0 12,000,000.00 AA+ 2/26/2026 11,994,492.00 3.96% 12,069,000.00 74,508.00 Federal Agency Commercial
Mortgage-Backed Security Subtotal 140,940,565.26 139,503,704.77 143,055,905.87 3,552,201.10 Corporate Note ADOBE INC 4/4/2024 4.800% 4/4/2029 00724PAF6 1,635,000.00 A+ 4/4/2024 1,632,563.85 4.83% 1,678,654.50 46,090.65 Corporate Note ADOBE INC 4/4/2024 4.800% 4/4/2029 00724PAF6 1,340,000.00 A+ 4/4/2024 1,337,762.20 4.84% 1,375,778.00 38,015.80 Corporate Note ADOBE INC 2/3/2020 2.300% 2/1/2030 00724PAD1 8,900,000.00 A+ 2/6/2026 8,310,731.00 4.12% 8,339,122.00 28,391.00 Corporate Note ALPHABET INC 8/9/2016 1.998% 8/15/2026 02079KAC1 5,740,000.00 AA+ 1/30/2023 5,354,386.80 4.05% 5,692,989.40 338,602.60 Corporate Note ALPHABET INC 2/13/2026 3.700% 2/15/2029 02079KBJ5 4,570,000.00 AA+ 2/13/2026 4,565,338.60 3.74% 4,574,432.90 9,094.30 Corporate Note ALPHABET INC 2/13/2026 3.700% 2/15/2029 02079KBJ5 710,000.00 AA+ 2/13/2026 707,422.70 3.83% 710,688.70 3,266.00 Corporate Note ALPHABET INC 2/13/2026 3.700% 2/15/2029 02079KBJ5 760,000.00 AA+ 2/13/2026 759,247.60 3.74% 760,737.20 1,489.60 Corporate Note ALPHABET INC 2/13/2026 3.700% 2/15/2029 02079KBJ5 760,000.00 AA+ 2/13/2026 759,186.80 3.74% 760,737.20 1,550.40 Corporate Note ALPHABET INC 11/6/2025 4.100% 11/15/2030 02079KAW7 5,725,000.00 AA+ 11/17/2025 5,734,331.75 4.06% 5,776,925.75 42,594.00 Corporate Note AMAZON.COM INC 4/13/2022 3.300% 4/13/2027 023135CF1 6,715,000.00 AA 4/25/2022 6,672,964.10 3.44% 6,692,034.70 19,070.60 Corporate Note AMAZON.COM INC 11/20/2025 4.100% 11/20/2030 023135CT1 11,500,000.00 AA 11/20/2025 11,487,695.00 4.12% 11,584,525.00 96,830.00 Corporate Note ASTRAZENECA FINANCE LLC 2/26/2024 4.850% 2/26/2029 04636NAL7 8,500,000.00 A+ 6/27/2025 8,689,040.00 4.19% 8,758,230.00 69,190.00 Corporate Note BANK OF NY MELLON CORP 4/22/2025 4.729% 4/20/2029 06405LAH4 8,000,000.00 AA- 4/28/2025 8,093,600.00 4.40% 8,136,480.00 42,880.00 Corporate Note BANK OF NY MELLON CORP 1/22/2026 4.026% 1/22/2030 06406RCG0 7,945,000.00 A 1/28/2026 7,931,016.80 4.07% 7,958,188.70 27,171.90 Corporate Note BANK OF NY MELLON CORP 1/22/2026 4.026% 1/22/2030 06406RCG0 1,085,000.00 A 1/22/2026 1,085,000.00 4.03% 1,086,801.10 1,801.10 Corporate Note BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,086,055.80 3.50% 4,120,831.80 34,776.00 Corporate Note BLACKROCK INC 3/28/2017 3.200% 3/15/2027 09247XAN1 4,140,000.00 AA- 5/18/2022 4,085,352.00 3.50% 4,120,831.80 35,479.80 Corporate Note BLACKROCK INC 3/14/2024 4.700% 3/14/2029 09290DAA9 2,924,000.00 AA- 4/11/2024 2,911,222.12 4.80% 3,001,193.60 89,971.48 Corporate Note BLACKROCK INC 3/14/2024 4.700% 3/14/2029 09290DAA9 350,000.00 AA- 3/14/2024 349,366.50 4.74% 359,240.00 9,873.50 Corporate Note BOFA SECURITIES INC. 8/18/2023 5.526% 8/18/2026 06428CAA2 4,000,000.00 A+ 8/18/2023 3,998,360.00 5.54% 4,024,520.00 26,160.00 Corporate Note BOFA SECURITIES INC. 4/22/2021 1.734% 7/22/2027 06051GJS9 1,420,000.00 A- 8/10/2022 1,281,251.80 3.92% 1,407,248.40 125,996.60 Corporate Note BOFA SECURITIES INC. 1/24/2025 4.979% 1/24/2029 06051GMK2 4,980,000.00 A- 4/2/2025 5,035,178.40 4.66% 5,068,992.60 33,814.20 Corporate Note CATERPILLAR FINL SERVICE 1/8/2026 4.150% 1/8/2031 14913UBH2 1,235,000.00 A 1/8/2026 1,234,555.40 4.16% 1,245,188.75 10,633.35 Corporate Note CISCO SYSTEMS INC 2/24/2025 4.750% 2/24/2030 17275RBX9 10,000,000.00 AA- 4/22/2025 10,124,500.00 4.46% 10,313,400.00 188,900.00 Corporate Note CISCO SYSTEMS INC 2/24/2025 4.750% 2/24/2030 17275RBX9 6,800,000.00 AA- 4/30/2025 6,955,924.00 4.22% 7,013,112.00 57,188.00 Corporate Note CITIGROUP GLOBAL MARKETS 9/29/2023 5.803% 9/29/2028 17325FBB3 11,225,000.00 A+ 9/29/2023 11,225,000.00 5.80% 11,756,167.00 531,167.00 Corporate Note ELI LILLY & COMPANY 2/12/2025 4.550% 2/12/2028 532457CU0 6,500,000.00 A+ 6/27/2025 6,578,910.00 4.06% 6,607,315.00 28,405.00 Corporate Note ELI LILLY & COMPANY 8/14/2024 4.200% 8/14/2029 532457CQ9 1,555,000.00 A+ 8/14/2024 1,557,643.50 4.16% 1,576,412.35 18,768.85 Corporate Note ELI LILLY & COMPANY 8/14/2024 4.200% 8/14/2029 532457CQ9 445,000.00 A+ 8/14/2024 444,025.45 4.25% 451,127.65 7,102.20 Corporate Note GOLDMAN SACHS BANK USA 5/21/2024 5.414% 5/21/2027 38151LAG5 8,750,000.00 A+ 5/22/2025 8,805,037.50 5.08% 8,776,512.50 -28,525.00 Corporate Note HOME DEPOT INC/THE 9/15/2025 3.950% 9/15/2030 437076DJ8 1,885,000.00 A 9/15/2025 1,878,232.85 4.03% 1,893,199.75 14,966.90 Corporate Note JOHN DEERE CAPITAL CORP 6/17/2021 1.050% 6/17/2026 24422EVR7 5,000,000.00 A 12/8/2021 4,908,600.00 1.47% 4,959,050.00 50,450.00 Corporate Note JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 2,800,000.00 A 6/25/2025 2,868,544.00 4.09% 2,879,044.00 10,500.00 Corporate Note JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 505,000.00 A 7/14/2023 504,247.55 4.98% 519,256.15 15,008.60 Corporate Note JOHN DEERE CAPITAL CORP 7/14/2023 4.950% 7/14/2028 24422EXB0 605,000.00 A 7/18/2023 610,874.55 4.73% 622,079.15 11,204.60 Corporate Note JOHNSON & JOHNSON 2/20/2025 4.500% 3/1/2027 478160DG6 4,850,000.00 AAA 3/13/2025 4,879,439.50 4.17% 4,897,190.50 17,751.00 Corporate Note
JPMORGAN CHASE FINANCIAL
CO LLC 4/22/2021 1.578% 4/22/2027 46647PCB0 4,100,000.00 A 8/10/2022 3,710,746.00 3.80% 4,085,773.00 375,027.00 3/13/2026 9:19 AM 3 of 5
Attachment A
City of Santa Clara Monthly Report
2/28/2026
Sector Description Issue Date Coupon Rate Maturity Date CUSIP Par Value S&P Rating Settle Date Cost Value YTM at Cost Market Value Unrealized G/L Corporate Note
JPMORGAN CHASE FINANCIAL
CO LLC 2/24/2022 2.947% 2/24/2028 46647PCW4 2,925,000.00 A 9/18/2023 2,674,532.25 5.13% 2,895,457.50 220,925.25 Corporate Note
JPMORGAN CHASE FINANCIAL
CO LLC 4/22/2024 5.571% 4/22/2028 46647PEE2 5,000,000.00 A 8/9/2024 5,103,350.00 4.95% 5,089,650.00 -13,700.00 Corporate Note
JPMORGAN CHASE FINANCIAL
CO LLC 1/24/2025 4.915% 1/24/2029 46647PEU6 2,825,000.00 A 3/13/2025 2,841,921.75 4.74% 2,876,584.50 34,662.75 Corporate Note
JPMORGAN CHASE FINANCIAL
CO LLC 4/22/2024 5.581% 4/22/2030 46647PEG7 2,750,000.00 A 4/28/2025 2,835,552.50 4.87% 2,872,127.50 36,575.00 Corporate Note KENVUE INC 10/17/2023 5.050% 3/22/2028 49177JAF9 6,250,000.00 A 6/30/2025 6,397,562.50 4.12% 6,399,500.00 1,937.50 Corporate Note MASTERCARD INC 5/31/2019 2.950% 6/1/2029 57636QAM6 7,500,000.00 A+ 6/27/2024 6,889,875.00 4.82% 7,310,475.00 420,600.00 Corporate Note META PLATFORMS INC 8/9/2024 4.300% 8/15/2029 30303M8S4 5,370,000.00 AA- 8/14/2024 5,385,895.20 4.23% 5,456,510.70 70,615.50 Corporate Note MORGAN STANLEY BANK NA 5/30/2024 5.504% 5/26/2028 61690U8B9 6,105,000.00 A+ 5/31/2024 6,117,881.55 5.45% 6,214,523.70 96,642.15 Corporate Note MORGAN STANLEY BANK NA 5/30/2024 5.504% 5/26/2028 61690U8B9 3,145,000.00 A+ 5/30/2024 3,145,000.00 5.50% 3,201,421.30 56,421.30 Corporate Note MORGAN STANLEY BANK NA 2/2/2026 4.213% 2/8/2030 61776NU43 5,000,000.00 A+ 2/5/2026 5,001,750.00 4.20% 5,023,800.00 22,050.00 Corporate Note MORGAN STANLEY BANK NA 2/2/2026 4.213% 2/8/2030 61776NU43 3,650,000.00 A+ 2/3/2026 3,649,854.00 4.21% 3,667,374.00 17,520.00 Corporate Note
NATIONAL RURAL UTILITIES
COOPERATIVE FI 8/25/2025 4.150% 8/25/2028 63743HFZ0 4,380,000.00 NR 8/25/2025 4,375,094.40 4.19% 4,410,703.80 35,609.40 Corporate Note NATIONAL SECS CLEARING 5/20/2025 4.700% 5/20/2030 637639AQ8 10,000,000.00 AA+ 6/27/2025 10,167,800.00 4.32% 10,291,800.00 124,000.00 Corporate Note NATIONAL SECS CLEARING 5/20/2025 4.700% 5/20/2030 637639AQ8 6,825,000.00 AA+ 6/27/2025 6,937,134.75 4.32% 7,024,153.50 87,018.75 Corporate Note
NOVARTIS FINANCE
CORPORATION 11/5/2025 4.100% 11/5/2030 66989HAY4 15,630,000.00 AA- 11/5/2025 15,583,110.00 4.17% 15,733,001.70 149,891.70 Corporate Note PACCAR FINANCIAL CORP 1/31/2024 4.600% 1/31/2029 69371RS80 7,000,000.00 A+ 7/30/2024 6,996,080.00 4.61% 7,180,810.00 184,730.00 Corporate Note PEPSICO INC 7/17/2024 4.500% 7/17/2029 713448FX1 4,380,000.00 A+ 7/17/2024 4,373,211.00 4.53% 4,482,623.40 109,412.40 Corporate Note PEPSICO INC 2/7/2025 4.600% 2/7/2030 713448GB8 2,380,000.00 A+ 2/7/2025 2,376,001.60 4.64% 2,447,139.80 71,138.20 Corporate Note STATE STREET BANK & TR 2/28/2025 4.729% 2/28/2030 857477CW1 9,240,000.00 A 2/28/2025 9,251,365.20 4.70% 9,497,611.20 246,246.00 Corporate Note TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 4,595,000.00 A 2/1/2022 4,567,889.50 2.08% 4,525,569.55 -42,319.95 Corporate Note TARGET CORP 1/24/2022 1.950% 1/15/2027 87612EBM7 990,000.00 A 1/24/2022 988,317.00 1.99% 975,041.10 -13,275.90 Corporate Note TOYOTA MOTOR CREDIT CORP 9/11/2023 5.250% 9/11/2028 89236TLB9 5,600,000.00 A+ 9/11/2023 5,590,256.00 5.29% 5,801,768.00 211,512.00 Corporate Note TOYOTA MOTOR CREDIT CORP 1/12/2026 4.200% 1/10/2031 89236TPH2 3,645,000.00 A+ 1/12/2026 3,643,870.05 4.21% 3,672,228.15 28,358.10 Corporate Note WALMART INC. 4/28/2025 4.350% 4/28/2030 931142FN8 6,000,000.00 AA 5/2/2025 6,053,940.00 4.15% 6,128,580.00 74,640.00 Corporate Note WALMART INC. 4/28/2025 4.350% 4/28/2030 931142FN8 3,220,000.00 AA 4/28/2025 3,214,429.40 4.39% 3,289,004.60 74,575.20 Corporate Note Subtotal 296,499,000.00 295,315,027.77 300,051,470.15 4,736,442.38 Asset-Backed Security
AMERICAN EXPRESS CREDIT
ACCOUNT MASTER 9/19/2023 5.230% 9/15/2028 02582JKD1 6,170,000.00 AAA 9/19/2023 6,169,724.20 5.23% 6,218,557.90 48,833.70 Asset-Backed Security
AMERICAN EXPRESS CREDIT
ACCOUNT MASTER 7/22/2025 4.300% 7/15/2030 02582JKV1 6,515,000.00 AAA 7/22/2025 6,514,061.19 4.30% 6,613,637.10 99,575.91 Asset-Backed Security BA CREDIT CARD TRUST 12/14/2023 4.980% 11/15/2028 05522RDH8 3,045,000.00 NR 12/14/2023 3,044,591.06 4.98% 3,070,973.85 26,382.79 Asset-Backed Security BA CREDIT CARD TRUST 6/12/2025 4.310% 5/15/2030 05522RDK1 5,250,000.00 AAA 6/12/2025 5,249,980.05 4.31% 5,329,065.00 79,084.95 Asset-Backed Security BOFA AUTO TRUST 2024-1 11/21/2023 5.740% 6/15/2028 06054YAC1 3,564,639.40 NR 11/21/2023 3,564,574.88 5.74% 3,601,355.19 36,780.31 Asset-Backed Security
CAPITAL ONE MULTI-ASSET
EXECUTION TRUST 9/16/2025 3.820% 9/15/2030 14041NGF2 7,250,000.00 AAA 9/16/2025 7,248,625.40 3.82% 7,285,742.50 37,117.10 Asset-Backed Security
CHASE AUTO OWNER TRUST
2024-5A 7/30/2025 4.290% 6/25/2030 16145NAC5 3,255,000.00 NR 7/30/2025 3,254,681.99 4.29% 3,287,647.65 32,965.66 Asset-Backed Security CHASE ISSUANCE TRUST 9/15/2023 5.160% 9/15/2028 161571HT4 6,045,000.00 AAA 9/15/2023 6,043,324.33 5.17% 6,089,370.30 46,045.97 Asset-Backed Security CHASE ISSUANCE TRUST 1/31/2024 4.600% 1/15/2029 161571HV9 7,605,000.00 AAA 1/31/2024 7,603,841.76 4.60% 7,664,395.05 60,553.29 Asset-Backed Security CHASE ISSUANCE TRUST 7/25/2025 4.160% 7/15/2030 161571HZ0 9,190,000.00 AAA 7/25/2025 9,189,815.28 4.16% 9,307,448.20 117,632.92 Asset-Backed Security
CITIBANK CREDIT CARD
ISSUANCE TRUST 6/26/2025 4.300% 6/21/2030 17305EHA6 11,485,000.00 AAA 6/26/2025 11,481,884.12 4.31% 11,653,025.55 171,141.43 Asset-Backed Security FIFTH THIRD AUTO TRUST 8/23/2023 5.530% 8/15/2028 31680EAD3 2,634,321.93 AAA 8/23/2023 2,634,158.60 5.53% 2,654,737.92 20,579.32 Asset-Backed Security
GM FINANCIAL SECURITIZED
TERM AUTO RECE 1/17/2024 4.850% 12/18/2028 36268GAD7 578,062.03 NR 1/17/2024 577,945.78 4.85% 581,669.14 3,723.36 Asset-Backed Security
GM FINANCIAL SECURITIZED
TERM AUTO RECE 5/14/2025 4.280% 4/16/2030 362549AD9 1,965,000.00 AAA 5/14/2025 1,964,710.75 4.28% 1,980,228.75 15,518.00 Asset-Backed Security
HONDA AUTO RECEIVABLES
OWNER TRUST 2024 2/18/2026 3.780% 9/23/2030 43815CAD0 1,635,000.00 NR 2/18/2026 1,634,739.54 3.78% 1,638,351.75 3,612.21 3/13/2026 9:19 AM 4 of 5
Attachment A
City of Santa Clara Monthly Report
2/28/2026
Sector Description Issue Date Coupon Rate Maturity Date CUSIP Par Value S&P Rating Settle Date Cost Value YTM at Cost Market Value Unrealized G/L Asset-Backed Security
HYUNDAI AUTO RECEIVABLES
TRUST 2024-C 11/13/2023 5.540% 10/16/2028 44918CAD4 1,687,869.87 AAA 11/13/2023 1,687,647.91 5.54% 1,704,765.45 17,117.54 Asset-Backed Security
HYUNDAI AUTO RECEIVABLES
TRUST 2024-C 3/12/2025 4.320% 10/15/2029 44935CAD3 6,570,000.00 AAA 3/12/2025 6,569,030.93 4.32% 6,622,428.60 53,397.67 Asset-Backed Security
HYUNDAI AUTO RECEIVABLES
TRUST 2024-C 6/11/2025 4.360% 12/17/2029 44935XAD7 2,825,000.00 AAA 6/11/2025 2,824,744.90 4.36% 2,856,075.00 31,330.10 Asset-Backed Security
HYUNDAI AUTO RECEIVABLES
TRUST 2024-C 9/17/2025 3.880% 4/15/2030 44935JAD8 5,770,000.00 AAA 9/17/2025 5,769,058.34 3.88% 5,793,830.10 24,771.76 Asset-Backed Security
KUBOTA CREDIT OWNER
TRUST 2024-2A 2/19/2025 4.670% 6/15/2029 50117FAC5 4,065,000.00 NR 2/19/2025 4,064,860.57 4.67% 4,136,462.70 71,602.13 Asset-Backed Security
TOYOTA AUTO RECEIVABLES
OWNER TRUST COM 11/14/2023 5.540% 8/15/2028 89239FAD4 1,238,493.08 AAA 11/14/2023 1,238,359.57 5.54% 1,251,472.49 13,112.92 Asset-Backed Security
TOYOTA AUTO RECEIVABLES
OWNER TRUST COM 4/30/2025 4.340% 11/15/2029 89231HAD8 4,385,000.00 AAA 4/30/2025 4,384,748.74 4.34% 4,425,912.05 41,163.31 Asset-Backed Security
TOYOTA AUTO RECEIVABLES
OWNER TRUST COM 7/30/2025 4.110% 3/15/2030 89238VAD0 4,705,000.00 AAA 7/30/2025 4,704,504.09 4.11% 4,742,357.70 37,853.61 Asset-Backed Security
VOLKSWAGEN AUTO LOAN
ENHANCED TRUST 202 3/25/2025 4.500% 8/20/2029 92868MAD1 6,905,000.00 NR 3/25/2025 6,904,765.23 4.50% 6,981,852.65 77,087.42 Asset-Backed Security Subtotal 114,338,386.30 114,324,379.21 115,491,362.59 1,166,983.38 Certificate of Deposit COOPERAT RABOBANK UA/NY 7/20/2023 5.080% 7/17/2026 21684LGS5 7,500,000.00 A-1 7/20/2023 7,500,000.00 5.08% 7,545,825.00 45,825.00 Certificate of Deposit Subtotal 7,500,000.00 7,500,000.00 7,545,825.00 45,825.00 Cash Equivalent
PRINCIPAL PUBLIC DEPOSIT
SWEEP PROGRAM 1.800% 3/1/2026 992995944 2,883,779.50 9/1/2020 2,883,779.50 2,883,779.50 - Cash Equivalent
LOCAL AGENCY INVESTMENT
FUND 3.870% 3/1/2026 56,414,735.05 9/30/1997 56,414,735.05 56,414,735.05 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM 3.830% 3/1/2026 217,418,276.77 10/4/2022 217,418,276.77 217,418,276.77 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM -
TERM 3.910% 3/6/2026 10,000,000.00 12/2/2025 10,000,000.00 10,000,000.00 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM -
TERM 3.710% 4/6/2026 15,000,000.00 1/6/2026 15,000,000.00 15,000,000.00 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM -
TERM 3.740% 4/22/2026 10,000,000.00 12/24/2025 10,000,000.00 10,000,000.00 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM -
TERM 3.700% 5/18/2026 10,000,000.00 1/20/2026 10,000,000.00 10,000,000.00 - Cash Equivalent
CALIFORNIA ASSET
MANAGEMENT PROGRAM -
TERM 3.660% 5/26/2026 15,000,000.00 11/7/2025 15,000,000.00 15,000,000.00 - Cash Equivalent DREYFUS TREASURY 3.550% 3/1/2026 2,486,259.35 10/31/ 1997 2,486,259.35 2,486, 259.35 - Cash Equivalent Subtotal 339,203,050.67 339,203, 050.67 339,203, 050.67 - Grand Total Count 199 1,586,041,002.22 1,587, 232,842.31 1,602, 831,973.13 15,599, 130.82 3/13/2026 9:19 AM 5 of 5
Attachment A
PAGE 24
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BEGINNING BALANCE 0.00 1,245,983,314.93
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH EQUIVALENTS
02/02/26 INTEREST RECEIVED 1,767.44
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
INTEREST FROM 1/1/26 TO 1/31/26
02/28/26 5,439,095.5 CASH SWEEP PURCHASES FOR STMT PERIOD 5,439,095.50- 5,439,095.50
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
14 TRANSACTIONS
02/28/26 5,025,528.67- CASH SWEEP SALES FOR STMT PERIOD 5,025,528.67 5,025,528.67-
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
2 TRANSACTIONS
BONDS & NOTES
02/06/26 8,900,000 PURCHASED 8,310,731.00- 8,310,731.00 ADOBE INC 2.300% 2/01/30
CUSIP 00724PAD1
AT $93.3790 ON TRADE DATE 02/05/2026
TO SETTLE ON 02/06/2026
J.P. MORGAN SECURITIES INC., -
02/06/26 ACCRUED INTEREST ON PURCHASE 2,843.06-
ADOBE INC 2.300% 2/01/30
CUSIP 00724PAD1
02/17/26 INTEREST RECEIVED 57,342.60
ALPHABET INC 1.998% 8/15/26
CUSIP 02079KAC1
INTEREST ON 5,740,000.000 UNITS
02/13/26 760,000 PURCHASED 759,186.80- 759,186.80
ALPHABET INC 3.700% 2/15/29
CUSIP 02079KBJ5
AT $99.8930 ON TRADE DATE 02/10/2026
TO SETTLE ON 02/13/2026
PERSHING
Attachment B
PAGE 25
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/13/26 710,000 PURCHASED 707,422.70- 707,422.70
ALPHABET INC 3.700% 2/15/29
CUSIP 02079KBJ5
AT $99.6370 ON TRADE DATE 02/09/2026
TO SETTLE ON 02/13/2026
J.P. MORGAN SECURITIES INC., -
02/13/26 760,000 PURCHASED 759,247.60- 759,247.60
ALPHABET INC 3.700% 2/15/29
CUSIP 02079KBJ5
AT $99.9010 ON TRADE DATE 02/10/2026
TO SETTLE ON 02/13/2026
STIFEL NICOLAUS & CO., INC.
02/13/26 4,570,000 PURCHASED 4,565,338.60- 4,565,338.60 ALPHABET INC 3.700% 2/15/29
CUSIP 02079KBJ5
AT $99.8980 ON TRADE DATE 02/10/2026
TO SETTLE ON 02/13/2026
J.P. MORGAN SECURITIES INC., -
02/17/26 INTEREST RECEIVED 23,345.41
AMERICAN EXPRES ABS 4.300% 7/15/30
CUSIP 02582JKV1
$0.00358/PV ON 6,515,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 26,890.91
AMERICAN EXPRES ABS 5.230% 9/15/28
CUSIP 02582JKD1
$0.00436/PV ON 6,170,000.00 PV
DUE 2/15/26
02/26/26 INTEREST RECEIVED 206,125.00
ASTRAZENECA FINANCE 4.850% 2/26/29
CUSIP 04636NAL7
INTEREST ON 8,500,000.000 UNITS
Attachment B
PAGE 26
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/18/26 INTEREST RECEIVED 110,520.00
BANK OF AMERICA 5.526% 8/18/26
CUSIP 06428CAA2
INTEREST ON 4,000,000.000 UNITS
02/17/26 INTEREST RECEIVED 18,856.25
BANK OF AMERICA ABS 4.310% 5/15/30
CUSIP 05522RDK1
$0.00359/PV ON 5,250,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 18,671.98
BANK OF AMERICA ABS 5.740% 6/15/28
CUSIP 06054YAC1
$0.00283/PV ON 3,903,548.11 PV
DUE 2/15/26
02/17/26 338,908.71- PAID DOWN 338,908.71 338,902.58- 6.13 BANK OF AMERICA ABS 5.740% 6/15/28
CUSIP 06054YAC1
TO SETTLE ON 02/17/2026
02/17/26 INTEREST RECEIVED 12,636.75
BK OF AMERICA ABS 4.980% 11/15/28
CUSIP 05522RDH8
$0.00415/PV ON 3,045,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 23,079.16
CAPITAL ONE ABS 3.820% 9/16/30
CUSIP 14041NGF2
$0.00318/PV ON 7,250,000.00 PV
DUE 2/15/26
02/25/26 INTEREST RECEIVED 11,636.63
CHASE AUTO ABS 4.290% 6/25/30
CUSIP 16145NAC5
$0.00358/PV ON 3,255,000.00 PV
DUE 2/25/26
Attachment B
PAGE 27
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/17/26 INTEREST RECEIVED 31,858.67
CHASE ISSUANCE ABS 0.000% 7/15/30
CUSIP 161571HZ0
$0.00347/PV ON 9,190,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 29,152.50
CHASE ISSUANCE ABS 4.600% 1/16/29
CUSIP 161571HV9
$0.00383/PV ON 7,605,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 25,993.50
CHASE ISSUANCE ABS 5.160% 9/15/28
CUSIP 161571HT4
$0.00430/PV ON 6,045,000.00 PV
DUE 2/15/26
02/24/26 INTEREST RECEIVED 399,000.00
CISCO SYSTEMS INC 4.750% 2/24/30
CUSIP 17275RBX9
INTEREST ON 16,800,000.000 UNITS
02/17/26 INTEREST RECEIVED 42,000.00
ELI LILLY & CO 4.200% 8/14/29
CUSIP 532457CQ9
INTEREST ON 2,000,000.000 UNITS
02/12/26 INTEREST RECEIVED 147,875.00
ELI LILLY & CO 4.550% 2/12/28
CUSIP 532457CU0
INTEREST ON 6,500,000.000 UNITS
02/25/26 INTEREST RECEIVED 16,948.69
FED HOME LN MTG CORP 3.117% 6/25/27
CUSIP 3137F2LJ3
$0.00260/PV ON 6,525,000.00 PV
DUE 2/25/26
Attachment B
PAGE 28
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/25/26 INTEREST RECEIVED 40,375.14
FHLMC CMO V-M 4.329% 6/25/30
CUSIP 3137HMC65
$0.00361/PV ON 11,192,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 25,586.54
FHLMC CMO V-M 4.421% 5/25/30
CUSIP 3137HN6B9
$0.00368/PV ON 6,945,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 14,197.58
FHLMC K061 CMO V-M 3.347% 11/25/26
CUSIP 3137BTUM1
$0.00265/PV ON 5,090,258.06 PV
DUE 2/25/26
02/25/26 10,817.76- PAID DOWN 10,817.76 10,484.78- 332.98 FHLMC K061 CMO V-M 3.347% 11/25/26
CUSIP 3137BTUM1
02/25/26 INTEREST RECEIVED 22,712.50
FHLMC K508 CMO V-M 4.740% 8/25/28
CUSIP 3137HAQ74
$0.00395/PV ON 5,750,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 36,451.79
FHLMC K536 CMO V-M 4.850% 1/25/30
CUSIP 3137HJZY6
$0.00404/PV ON 9,019,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 22,002.34
FHLMC K537 CMO V-M 4.430% 2/25/30
CUSIP 3137HKPF5
$0.00369/PV ON 5,960,000.00 PV
DUE 2/25/26
Attachment B
PAGE 29
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/25/26 INTEREST RECEIVED 39,443.72
FHLMC K538 CMO V-M 4.478% 1/25/30
CUSIP 3137HKQC1
$0.00373/PV ON 10,570,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 14,736.75
FHLMC K539 CMO V-M 4.410% 1/25/30
CUSIP 3137HKXJ8
$0.00368/PV ON 4,010,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 16,115.17
FHLMC K540 CMO V-M 4.513% 2/25/30
CUSIP 3137HLJA1
$0.00376/PV ON 4,285,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 41,197.30
FHLMC K541 CMO V-M 4.348% 2/25/30
CUSIP 3137HLXV9
$0.00362/PV ON 11,370,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 26,329.54
FHLMC K546 CMO V-M 4.361% 5/25/30
CUSIP 3137HN4R6
$0.00363/PV ON 7,245,000.00 PV
DUE 2/25/26
02/26/26 12,000,000 PURCHASED 11,994,492.00- 11,994,492.00 FHLMC K556 CMO V-M 3.948% 1/25/31
CUSIP 3137HQDM0
AT $99.9541 ON TRADE DATE 02/18/2026
TO SETTLE ON 02/26/2026
J.P. MORGAN SECURITIES INC., -
Attachment B
PAGE 30
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/26/26 ACCRUED INTEREST ON PURCHASE 32,900.00-
FHLMC K556 CMO V-M 3.948% 1/25/31
CUSIP 3137HQDM0
02/25/26 INTEREST RECEIVED 12,282.86
FHLMC MULTIFAMILY ST 3.243% 4/25/27
CUSIP 3137F1G44
$0.00270/PV ON 4,545,000.00 PV
DUE 2/25/26
02/25/26 INTEREST RECEIVED 23,747.59
FHLMC SER KJ46 CMO 4.777% 6/25/28
CUSIP 3137HAD45
$0.00389/PV ON 5,965,481.62 PV
DUE 2/25/26
02/25/26 6,956.97- PAID DOWN 6,956.97 6,956.80- 0.17
FHLMC SER KJ46 CMO 4.777% 6/25/28
CUSIP 3137HAD45
02/25/26 INTEREST RECEIVED 30,118.75
FHLMC SER K505 CMO 4.819% 6/25/28
CUSIP 3137HACX2
$0.00402/PV ON 7,500,000.00 PV
DUE 2/25/26
02/17/26 INTEREST RECEIVED 13,278.11
FIFTH THIRD AUT ABS 5.530% 8/15/28
CUSIP 31680EAD3
$0.00252/PV ON 2,881,325.49 PV
DUE 2/15/26
02/17/26 247,003.56- PAID DOWN 247,003.56 246,988.25- 15.31 FIFTH THIRD AUT ABS 5.530% 8/15/28
CUSIP 31680EAD3
TO SETTLE ON 02/17/2026
Attachment B
PAGE 31
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/25/26 INTEREST RECEIVED 54,377.05
FNMA SER M6 CMO V-M 4.181% 7/25/28
CUSIP 3136BQDE6
$0.00348/PV ON 15,605,335.00 PV
DUE 2/25/26
02/25/26 618,734.69- PAID DOWN 618,734.69 601,014.72- 17,719.97 FNMA SER M6 CMO V-M 4.181% 7/25/28
CUSIP 3136BQDE6
02/17/26 INTEREST RECEIVED 7,008.50
GM FINANCIAL ABS 4.280% 4/16/30
CUSIP 362549AD9
$0.00357/PV ON 1,965,000.00 PV
DUE 2/16/26
02/17/26 INTEREST RECEIVED 2,524.24
GM FINANCIAL ABS 4.850% 12/18/28
CUSIP 36268GAD7
$0.00310/PV ON 624,554.75 PV
DUE 2/16/26
02/17/26 46,492.72- PAID DOWN 46,492.72 46,483.37- 9.35 GM FINANCIAL ABS 4.850% 12/18/28
CUSIP 36268GAD7
TO SETTLE ON 02/17/2026
02/18/26 1,635,000 PURCHASED 1,634,739.54- 1,634,739.54 HONDA AUTO RECE ABS 3.780% 9/23/30
CUSIP 43815CAD0
AT $99.9841 ON TRADE DATE 02/10/2026
TO SETTLE ON 02/18/2026
MITSUBISHI UFJ SECURITIES (USA
02/17/26 INTEREST RECEIVED 18,656.33
HYUNDAI AUTO ABS 3.880% 4/15/30
CUSIP 44935JAD8
$0.00323/PV ON 5,770,000.00 PV
DUE 2/15/26
Attachment B
PAGE 32
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/17/26 INTEREST RECEIVED 23,652.00
HYUNDAI AUTO ABS 4.320% 10/15/29
CUSIP 44935CAD3
$0.00360/PV ON 6,570,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 10,264.17
HYUNDAI AUTO REC ABS 4.360% 12/17/29
CUSIP 44935XAD7
$0.00363/PV ON 2,825,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 8,442.07
HYUNDAI AUTO REC ABS 5.540% 10/16/28
CUSIP 44918CAD4
$0.00334/PV ON 1,828,606.56 PV
DUE 2/15/26
02/17/26 140,736.69- PAID DOWN 140,736.69 140,718.18- 18.51 HYUNDAI AUTO REC ABS 5.540% 10/16/28
CUSIP 44918CAD4
TO SETTLE ON 02/17/2026
02/17/26 INTEREST RECEIVED 15,819.63
KUBOTA CREDIT ABS 4.670% 6/15/29
CUSIP 50117FAC5
$0.00389/PV ON 4,065,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 115,455.00
META PLATFORMS INC 4.300% 8/15/29
CUSIP 30303M8S4
INTEREST ON 5,370,000.000 UNITS
02/03/26 3,650,000 PURCHASED 3,649,854.00- 3,649,854.00 MORGAN STANLEY V-D 4.213% 2/08/30
CUSIP 61776NU43
AT $99.9960 ON TRADE DATE 02/02/2026
TO SETTLE ON 02/03/2026
BMOCM/BONDS
Attachment B
PAGE 33
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/03/26 ACCRUED INTEREST ON PURCHASE 427.15-
MORGAN STANLEY V-D 4.213% 2/08/30
CUSIP 61776NU43
02/05/26 5,000,000 PURCHASED 5,001,750.00- 5,001,750.00 MORGAN STANLEY V-D 4.213% 2/08/30
CUSIP 61776NU43
AT $100.0350 ON TRADE DATE 02/04/2026
TO SETTLE ON 02/05/2026
MERRILL LYNCH,PIERCE,FENNER
02/05/26 ACCRUED INTEREST ON PURCHASE 1,755.42-
MORGAN STANLEY V-D 4.213% 2/08/30
CUSIP 61776NU43
02/25/26 INTEREST RECEIVED 90,885.00
NATIONAL RURAL MTN 4.150% 8/25/28
CUSIP 63743HFZ0
INTEREST ON 4,380,000.000 UNITS
02/02/26 INTEREST RECEIVED 161,000.00
PACCAR FINANCIAL MTN 4.600% 1/31/29
CUSIP 69371RS80
INTEREST ON 7,000,000.000 UNITS
02/09/26 INTEREST RECEIVED 54,740.00
PEPSICO INC 4.600% 2/07/30
CUSIP 713448GB8
INTEREST ON 2,380,000.000 UNITS
02/17/26 INTEREST RECEIVED 16,114.63
TOYOTA AUTO ABS 4.110% 3/15/30
CUSIP 89238VAD0
$0.00343/PV ON 4,705,000.00 PV
DUE 2/15/26
Attachment B
PAGE 34
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/17/26 INTEREST RECEIVED 15,859.08
TOYOTA AUTO REC ABS 4.340% 11/15/29
CUSIP 89231HAD8
$0.00362/PV ON 4,385,000.00 PV
DUE 2/15/26
02/17/26 INTEREST RECEIVED 6,135.23
TOYOTA AUTO REC ABS 5.540% 8/15/28
CUSIP 89239FAD4
$0.00356/PV ON 1,328,929.87 PV
DUE 2/15/26
02/17/26 90,436.79- PAID DOWN 90,436.79 90,427.04- 9.75 TOYOTA AUTO REC ABS 5.540% 8/15/28
CUSIP 89239FAD4
TO SETTLE ON 02/17/2026
02/02/26 INTEREST RECEIVED 102,093.75
U.S. TREASURY BONDS 4.125% 7/31/28
CUSIP 91282CHQ7
INTEREST ON 4,950,000.000 UNITS
02/06/26 8,150,000- SOLD 8,284,029.30 8,140,017.16- 144,012.14 U.S. TREASURY BONDS 4.125% 11/30/29
CUSIP 91282CMA6
AT $101.6445 ON TRADE DATE 02/05/2026
TO SETTLE ON 02/06/2026
HSBC SECURITIES, INC.
02/06/26 ACCRUED INTEREST ON SALE 62,804.26
U.S. TREASURY BONDS 4.125% 11/30/29
CUSIP 91282CMA6
02/02/26 INTEREST RECEIVED 128,562.50
U.S. TREASURY NOTES 2.750% 7/31/27
CUSIP 91282CFB2
INTEREST ON 9,350,000.000 UNITS
Attachment B
PAGE 35
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/02/26 INTEREST RECEIVED 14,962.50
U.S. TREASURY NOTES 3.500% 1/31/28
CUSIP 91282CGH8
INTEREST ON 855,000.000 UNITS
02/26/26 11,850,000- SOLD 11,867,126.95 11,795,865.47- 71,261.48 U.S. TREASURY NOTES 3.625% 8/31/30
CUSIP 91282CNX5
AT $100.1445 ON TRADE DATE 02/23/2026
TO SETTLE ON 02/26/2026
BMOCM/BONDS
02/26/26 ACCRUED INTEREST ON SALE 212,407.98
U.S. TREASURY NOTES 3.625% 8/31/30
CUSIP 91282CNX5
02/05/26 12,525,000 PURCHASED 12,480,966.80- 12,480,966.80 U.S. TREASURY NOTES 3.750% 1/31/31
CUSIP 91282CPW5
AT $99.6484 ON TRADE DATE 02/04/2026
TO SETTLE ON 02/05/2026
BARCLAYS CAPITAL INC. FIXED IN
02/05/26 ACCRUED INTEREST ON PURCHASE 6,487.40-
U.S. TREASURY NOTES 3.750% 1/31/31
CUSIP 91282CPW5
02/13/26 6,730,000- SOLD 6,774,691.41 6,657,710.03- 116,981.38 U.S. TREASURY NOTES 3.750% 12/31/28
CUSIP 91282CJR3
AT $100.6641 ON TRADE DATE 02/10/2026
TO SETTLE ON 02/13/2026
BMOCM/BONDS
02/13/26 ACCRUED INTEREST ON SALE 30,675.41
U.S. TREASURY NOTES 3.750% 12/31/28
CUSIP 91282CJR3
Attachment B
PAGE 36
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/02/26 INTEREST RECEIVED 185,515.63
U.S. TREASURY NOTES 3.875% 7/31/30
CUSIP 91282CNN7
INTEREST ON 9,575,000.000 UNITS
02/02/26 INTEREST RECEIVED 323,300.00
U.S. TREASURY NOTES 4.000% 1/31/29
CUSIP 91282CJW2
INTEREST ON 16,165,000.000 UNITS
02/05/26 4,950,000- SOLD 5,000,080.08 4,945,469.72- 54,610.36 U.S. TREASURY NOTES 4.000% 1/31/29
CUSIP 91282CJW2
AT $101.0117 ON TRADE DATE 02/04/2026
TO SETTLE ON 02/05/2026
MORGAN STANLEY & CO.
02/05/26 ACCRUED INTEREST ON SALE 2,734.81
U.S. TREASURY NOTES 4.000% 1/31/29
CUSIP 91282CJW2
02/02/26 INTEREST RECEIVED 191,500.00
U.S. TREASURY NOTES 4.000% 7/31/29
CUSIP 91282CLC3
INTEREST ON 9,575,000.000 UNITS
02/05/26 12,205,000- SOLD 12,271,746.09 12,180,208.59- 91,537.50 U.S. TREASURY NOTES 4.125% 2/15/27
CUSIP 91282CKA8
AT $100.5469 ON TRADE DATE 02/04/2026
TO SETTLE ON 02/05/2026
BICWFSLUS33 WELLS FARGO SECURI
02/05/26 ACCRUED INTEREST ON SALE 238,047.25
U.S. TREASURY NOTES 4.125% 2/15/27
CUSIP 91282CKA8
Attachment B
PAGE 37
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/02/26 INTEREST RECEIVED 132,281.25
U.S. TREASURY NOTES 4.250% 1/31/30
CUSIP 91282CMG3
INTEREST ON 6,225,000.000 UNITS
02/17/26 INTEREST RECEIVED 226,012.50
US TREASURY BOND 5.250% 2/15/29
CUSIP 912810FG8
INTEREST ON 8,610,000.000 UNITS
02/17/26 INTEREST RECEIVED 299,306.25
US TREASURY BOND 6.375% 8/15/27
CUSIP 912810FA1
INTEREST ON 9,390,000.000 UNITS
02/17/26 INTEREST RECEIVED 51,075.00
US TREASURY NOTE 2.250% 8/15/27
CUSIP 9128282R0
INTEREST ON 4,540,000.000 UNITS
02/18/26 150,000- SOLD 148,037.11 145,792.97- 2,244.14
US TREASURY NOTE 2.375% 5/15/27
CUSIP 912828X88
AT $98.6914 ON TRADE DATE 02/13/2026
TO SETTLE ON 02/18/2026
GOLDMAN SACHS
02/18/26 ACCRUED INTEREST ON SALE 934.91
US TREASURY NOTE 2.375% 5/15/27
CUSIP 912828X88
02/20/26 INTEREST RECEIVED 25,893.75
VOLKSWAGEN AUTO ABS 4.500% 8/20/29
CUSIP 92868MAD1
$0.00375/PV ON 6,905,000.00 PV
DUE 2/20/26
Attachment B
INVESTMENT AND INSURANCE PRODUCTS ARE:• NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY• NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE• SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED PAGE 38
STATEMENT OF TRANSACTIONS CITY OF SANTA CLARA- CUSTODY
FOR THE PERIOD FEBRUARY 1, 2026 THROUGH FEBRUARY 28, 2026 ACCOUNT NUMBER XXXXXXXX ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 02/25/26 INTEREST RECEIVED 21,493.34
VR FHLMC MULTIFAMI 3.224% 3/25/27
CUSIP 3137BXQY1
$0.00269/PV ON 8,000,000.00 PV
DUE 2/25/26
02/24/26 INTEREST RECEIVED 43,099.88
VR JPMORGAN CHASE & 2.947% 2/24/28
CUSIP 46647PCW4
INTEREST ON 2,925,000.000 UNITS
================================================================================================================= ENDING BALANCE 0.00 1,250,913,571.14
¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
Attachment B
"Principal® I Custody
V Solutions
Attachment 3
Department/Item
Source of
Funds
Use of
Funds Explanation
Other Agencies Revenue
(Wildland Deployment
Reimbursements) / Fire
Department
227,315 227,315 This action recognizes Cal OES reimbursements for wildland deployments in 2025 for the Garnet
and Bridge fires, as well as an OES Preposition
incident and appropriates the funding to the Fire
Department to cover the associated costs (five
affirmative Council votes required to
appropriate additional revenue).
227,315 227,315
Department/Item
Source of
Funds
Use of
Funds Explanation
Community Development
Department -
Materials/Services/Supplies
250,000 This action increases the Materials/Services/
Supplies budget for the Community Development
Department's Building Division to provide funding
for technology project management consultant
services. The consultants will assess the
permitting, plan review and inspection teams and
identify improvements to the inspections module of
Accela (five affirmative Council votes required
for the use of unused balances).
Unrestricted Ending Fund
Balance
(250,000) This action decreases the unrestricted ending fund balance to offset the action recommended above
(five affirmative Council votes required for the
use of unused balances).
- -
Department/Item
Source of
Funds
Use of
Funds Explanation
Other Revenue - CUPA
Enforcement Fines / Materials,
Services & Supplies
119,200 31,235 This action recognizes $119,200 of CUPA (Certified Unified Program Agency) enforcement
fines received year-to-date and increases the
materials/services/supplies appropriation to fund
the additional costs for the purchase of ruggedized
computer upgrades for the CUPA program. Fines
are received for the issuance of violations of
hazardous materials management and
environmental protection regulations (five
affirmative Council votes required to
appropriate additional revenue).
CUPA Enforcement Fines
Reserve - Ending Fund Balance
87,965 This action establishes a CUPA Enforcement Fines Reserve and offsets the action above (five
affirmative Council votes required to
appropriate additional revenue).
119,200 119,200
FY 2025/26 Budget Amendments
General Fund (001)
Building Development Services Fund (155)
Fire CUPA Fund (159)
1 Attachment 3
FY 2025/26 Budget Amendments
Department/Item
Source of
Funds
Use of
Funds Explanation
Pacific Library Partnership
California Library Services Act
Distribution of Funds for FY 2025-
26 3,711 3,711 This action increases the Other Agencies Revenue estimate and appropriates the funding for the
Pacific Library Partnership FY 25-26. These funds
are intended to offset costs for the Library
Department's Link+ subscription, which is a
regional inter-library loan service that allows the
Santa Clara City Library to provide library users
with borrowing privileges to access books and
other materials through the Link+ library network
throughout California public and academic library
networks. Link+ is used as a supplement to the
City’s existing materials collection for cost and time- effective service (five affirmative Council votes
required to appropriate additional revenue).
3,711 3,711
Library Operating Grant Trust Fund (112)
2 City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
26-314 Agenda Date: 4/21/2026
REPORT TO COUNCIL
SUBJECT
Action on a Resolution to Authorize an Increase in the Business License Tax Corresponding to an Increase in the Annual Inflation Rate Effective July 1, 2026
BACKGROUND
The City of Santa Clara’s Business License Tax was updated through a voter-approved ballot measure on November 8, 2022 (Measure H). Prior to this, there had been no business tax adjustment for 30 years. The approved measure implemented a new tax structure effective July 1, 2023, with an annual inflation adjustment mechanism outlined in Section 3.40.160 of the Santa Clara City Code (City Code). This ensures that the business tax keeps pace with inflationary changes to support essential city services. The first inflation adjustment of 2.7% was implemented on July 1, 2025 (see attachments 1 and 2).
DISCUSSION
The Business License Tax is structured to provide equitable revenue contributions from businesses operating in Santa Clara while ensuring that tax burdens remain aligned with inflation. The 2022 voter -approved Measure H established a tax framework that allows for an annual inflation adjustment based on the Consumer Price Index (CPI) for the San Francisco-Oakland-Hayward Area. As mandated by Section 3.40.160 of the City Code, these adjustments are subject to approval by the City Council and are capped at a maximum increase of 5% per year to prevent excessive financial impact on businesses.
For Fiscal Year 2026-27, the March 2026 CPI report published by the U.S. Bureau of Labor Statistics (BLS) reflects an annual inflation rate of 2.5%. Accordingly, it is proposed that Business License Tax rates will be adjusted by 2.5%, resulting in the following changes:
· The current tax of $46.22 per employee will increase to $47.37 per employee. · The current tax of $15.40 per rental unit will increase to $15.78 per unit. · The annual cap of $359,450 per business will increase to $368,436 per business.
The Business License Tax provides funding for public safety, infrastructure maintenance, economic development programs, and community services. By implementing this inflation-based increase, the City upholds its commitment to long-term fiscal sustainability without imposing sudden, large-scale tax hikes.
This annual CPI-based adjustment is critical to preventing the erosion of City revenue due to inflation while ensuring that businesses continue to contribute fairly to the cost of maintaining high-quality city services.
City of Santa Clara Printed on 4/17/2026Page 1 of 2
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26-314 Agenda Date: 4/21/2026
Although a formal amendment to the City’s business license tax ordinance is not legally required, the City Attorney’s Office will work with Finance staff and the City Clerk to add a note within the City Code sections containing the original business license tax rates indicating that any new tax rate approved by the City Council for the applicable fiscal year will be posted on the City’s business license tax webpage.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a “project” within the meaning of a California Environmental Quality Act (“CEQA”) pursuant to pursuant to section 15378 (b)(4) of Title 14 of the California Code of Regulations in that it is a fiscal action which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment.
FISCAL IMPACT
Based on the estimated total business tax revenue of approximately $6.0 million for FY 2025/26, the
2.5% CPI-based increase effective July 1, 2026, will result in an additional $150,000 in revenue in FY 2026/27.
COORDINATION
This report has been coordinated with the Finance Department and City Attorney’s Office.
PUBLIC CONTACT
On April 8 and April 15, 2026, notices of the proposed increase were published in the Santa Clara Weekly in the manner set forth in Government Code Sections 6062a and 66018.
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] or at the public information desk at any City of Santa Clara public library.
RECOMMENDATION
Adopt a resolution authorizing the annual inflation adjustment for the Business License Tax, effective July 1, 2026, in the amount of 2.5% as allowable under Santa Clara City Code Section 3.40.160 Reviewed by: Kenn Lee, Director of Finance
Approved by: Jovan D. Grogan, City Manager
ATTACHMENTS
1. RTC 25-367
2. Resolution No. 25-9433
3. Resolution Adjusting the Business License Tax to be effective July 1, 2026 City of Santa Clara Printed on 4/17/2026Page 2 of 2
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-367 Agenda Date: 4/29/2025
REPORT TO COUNCIL
SUBJECT
Action on a Resolution to Authorize Business License Tax Adjustment for Annual Inflation Increase Effective July 1, 2025
COUNCIL PILLAR
Deliver and Enhance High Quality Efficient Services and Infrastructure
BACKGROUND
The City of Santa Clara’s Business License Tax was last updated through a voter-approved ballot measure on November 8, 2022 (Measure H). Prior to this, there had been no business tax adjustments for 30 years. The approved measure implemented a new tax structure effective July 1, 2023, with an annual inflation adjustment mechanism outlined in Section 3.40.160 of the Santa Clara City Code (City Code). This ensures that the business tax keeps pace with inflationary changes to support essential city services.
DISCUSSION
The Business License Tax is structured to provide equitable revenue contributions from businesses operating in Santa Clara while ensuring that tax burdens remain aligned with inflation. The 2022 voter -approved Measure H established a tax framework that allows for an annual inflation adjustment based on the Consumer Price Index (CPI) for the San Francisco-Oakland-Hayward Area. As mandated by Section 3.40.160 of the City Code, these adjustments are subject to approval by the City Council and are capped at a maximum increase of 5% per year to prevent excessive financial impact on businesses.
For Fiscal Year 2025-26, the February 2025 CPI report published by the U.S. Bureau of Labor Statistics (BLS) reflects an annual inflation rate of 2.7%. Accordingly, it is proposed that Business License Tax rates will be adjusted by 2.7%, resulting in the following changes:
The current tax of $45 per employee will increase to $46.22 per employee.
The current tax of $15 per rental unit will increase to $15.40 per unit.
The annual cap of $350,000 per business will increase to $359,450 to reflect the 2.7% CPI adjustment.
The Business License Tax provides funding for public safety, infrastructure maintenance, economic development programs, and community services. By implementing this inflation-based increase, the City upholds its commitment to long-term fiscal sustainability without imposing sudden, large-scale tax hikes.
This annual CPI-based adjustment is critical to preventing the erosion of City revenue due to inflation while ensuring that businesses continue to contribute fairly to the cost of maintaining high-quality city City of Santa Clara Printed on 3/18/2026Page 1 of 3
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•
•
•
25-367 Agenda Date: 4/29/2025
services.
As contemplated by City Code Section 3.40.250, the Director of Finance Department is currently working on drafting rules and regulations to facilitate the implementation of the Business License Tax.
Topics addressed include operational and administrative details for staff to implement the Business License Tax Program, and provisions for providing notice to affected taxpayers. Once finalized, these rules will be brought back for Council consideration and approval.
Although a formal amendment to the City’s business license tax ordinance is not legally required, the City Attorney’s Office will work with Finance staff and the City Clerk to add a note within the City Code sections containing the original business license tax rates indicating that any new tax rate approved by the City Council for the applicable fiscal year will be posted on the City’s business license tax webpage.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a “project” within the meaning of a California Environmental Quality Act (“CEQA”) pursuant to pursuant to section 15378 (b)(4) of Title 14 of the California Code of Regulations in that it is a fiscal action which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment.
FISCAL IMPACT
Based on the estimated total business tax revenue of $6 million per year, the 2.7% CPI-based increase will result in an additional $162,000 in revenue for FY 2025-26.
COORDINATION
This report has been coordinated with the Finance Department and City Attorney’s Office.
PUBLIC CONTACT
On April 2 and April 9, 2025, notices of the proposed increase were published in the Santa Clara Weekly in the manner set forth in Government Code Sections 6062a and 66018.
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] or at the public information desk at any City of Santa Clara public library.
RECOMMENDATION
Adopt a resolution authorizing the annual inflation adjustment for the Business License Tax, effective July 1, 2025, as allowable under Santa Clara City Code Section 3.40.160 Reviewed by: Kenn Lee, Director of Finance
Approved by: Jovan D. Grogan, City Manager
ATTACHMENTS
1. Resolution No. 22-9130
City of Santa Clara Printed on 3/18/2026Page 2 of 3
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25-367 Agenda Date: 4/29/2025
2. Resolution Adjusting the Business License Tax to be effective July 1, 2025
3. RTC 22-936
City of Santa Clara Printed on 3/18/2026Page 3 of 3
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Resolution/Business License Tax 2.7% adjustment Increase, Effective July 1, 2025 Page 1 of 2 Rev: 7/27/2023
RESOLUTION NO. 25-9433
A RESOLUTION OF THE CITY OF SANTA CLARA, CALIFORNIA,
ADJUSTING THE BUSINESS LICENSE TAX by 2.7% AS
AUTHORIZED IN SANTA CLARA CITY CODE SECTION 3.40.160,
EFFECTIVE JULY 1, 2025
WHEREAS, Measure H, approved by Santa Clara voters on November 8, 2022, established a framework for periodic adjustments to the Business License Tax (Business Tax) to reflect economic changes and ensure equitable contributions from businesses operating in the City of Santa Clara;
WHEREAS, Section 3.40.160 of the Santa Clara City Code, which was adopted pursuant to Measure H, provides for annual adjustments to the Business Tax based on the Consumer Price Index (CPI) for All Urban Consumers for All Items for the San Francisco-Oakland-Hayward Area, as reported by the U.S. Bureau of Labor Statistics (BLS); WHEREAS, the Business Tax revenue supports public safety, infrastructure maintenance, economic development programs, and community services and CPI adjustments allow the City to mitigate the impacts of inflation;
WHEREAS, the most recent CPI data for February 2025 indicates an annual inflation rate of
2.7%; therefore, it is appropriate to adjust the Business Tax rates by that percentage for Fiscal Year 2025-26, effective July 1, 2025 as shown in Attachment 1; and WHEREAS, the City published a public notice of the proposed adjustment in the Santa Clara Weekly Newspaper.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF SANTA CLARA AS FOLLOWS:
1. That the findings as set forth above are hereby adopted by the City Council of the City of Santa Clara (City Council).
//
//
//
2. That the City Council hereby approves the Business Tax adjustment of 2.7% CPI increase, effective July 1, 2025. This adjustment is made pursuant to Section 3.40.160 of the Santa Clara City Code, which authorizes annual inflation-based updates to the Business License Tax.
3. That a true and correct copy of the Resolution shall be kept on file in the Office of the City Clerk and in the Billing Division of the City Finance Department.
4. Effective date. This resolution shall become effective immediately.
I HEREBY CERTIFY THE FOREGOING TO BE A TRUE COPY OF A RESOLUTION PASSED
AND ADOPTED BY THE CITY OF SANTA CLARA, CALIFORNIA, AT A REGULAR MEETING THEREOF HELD ON THE 2grH DAY OF APRIL, 2025, BY THE FOLLOWING VOTE:
AYES: COUNCILORS:
NOES: COUNCILORS:
ABSENT: COUNCILORS:
ABSTAINED: COUNCILORS:
Attachments incorporated by reference:
1. Business Tax Rate Adjustments for July 1, 2025
Chahal, Cox, Gonzalez, Hardy, Jain, and Park, and
Mayor Gillmor
None
None
None
ATTEST~...-...a.~~ ~-·.......,.=--.__-/7- --:~ _
ASSISTANT CITY CLERK
CITY OF SANTA CLARA
Resolution/Business License Tax 2.7% adjustment Increase, Effective July 1, 2025 Rev: 7/27/2023