Investment
Review Committee
Annual Report
Presented by Davin Carey
Chair
1 2
Item No. 13.A.
Investment Review Committee Annual Report
Functions of the Committee
•Monitor City compliance with Investment Policy
•Recommend changes to Investment Policy
•Quarterly reports to City Council
•Annual summary to City Council
Investment Review Committee Annual Report
Term ExpirationOriginal AppointmentCurrent Members
December 2025October 2021Davin Carey
December 2025October 2021Anthony Gonzales
December 2026December 2022Sheila Moore
December 2025March 2007John Short, III
December 2026December 2020Cody Sorenson
3 4
Investment Review Committee Annual Report
13.43%
22.23%
26.14%
13.96%
12.05% 12.20%
$0
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
$80,000,000
$90,000,000
$100,000,000
0 days 1 - 365 days 366 - 730 days 731 - 1095 days 1096 - 1460 days 1461 days and after
Par Value of Investments within Maturity Period as of September 30, 2024 Investment Review Committee Annual Report
• Quarterly Update to City Council - February, May, August, and November • Compliance with Investment Policy
Quarterly review of investments
Diversified mix of low-risk investments
Determination that investments in compliance with policy 5 6
Investment Review Committee Annual Report
Operating portfolio update since last annual report
September 30, 2023September 30, 2024
$347.5 M$360.6 MBook Value
2.09%2.48%Portfolio Yield to Maturity
$7.3 M$8.9 MEstimated Annual Interest
Investment Review Committee Annual Report
Investment Policy recommendations
• Investment Policy reviewed at August and November meetings • No Government Code changes affecting City’s investment policy • No substantive changes recommended
7 8
Investment Review Committee Annual Report
Committee Recommendation: Receive and File Report
9 10
FY2024-25
Community Sports Grant
(CSG)
Presented by:
Denise Monden, Chair
Kyle Rohrbach, Vice Chair
Community Funding
Review Committee (CFRC)
1 2
Item No. 13.B.
Community Sports Grant•Provides up to $7,500 per organization of financial support for sports and recreation facilities and equipment•Available to local non-profits and school groupsThousand Oaks High School T rack & Field Community Sports Grant•Applications were accepted between September 3 –October 3, 2024•Email notifications, press release, and social media announcements•Article in the Acorn on September 6, 2024•Grant Workshop was held on September 10, 2024Ride On LA 3 4
Community Sports Grant•Received 15 eligible grant applications•Applications reviewed and ranked by CFRC Committee•T otal requests $86,316.50•CFRC recommends awarding 15 CSG grants for a total of $74,394.25Newbury Park High T rack & Field Community Sports GrantFY 2024-25 Recommended GranteesThousand Oaks High School on behalf of:•Baseball Boosters•Boys Basketball•Girls Basketball Boosters•Track & Field BoostersWestlake High School on behalf of:•Baseball Boosters•Boys Volleyball Boosters•Country and Track & Field Boosters•Football Boosters•Girls Volleyball BoostersBoys & Girls Club of Greater Conejo Valley Newbury Park High School on behalf of:•Track & Field BoostersRide On LAThousand Oaks Flyers Y outh Track ClubRancho PotreroThousand Oaks Little League 5 6
Community Sports GrantRecommendation•Award FY 2024-25 Community Sports Grants and authorize expenditures not to exceed $74,394.25Thousand Oaks Flyers T rack Club 7 8
12/3/2024
1 City Council
December 3, 2024
Housing Element
Implementation; Programs 4 & 6
Municipal Code Amendment
MCA-2024-70004
1 2
Item 10.A.
12/3/2024
2 Request
To amend Title 9, Chapter 3, Article 12 to add Section 9-
3.1218 Voluntary Lot Mergers; amending Title 9, Chapter 4, Article 28, Section 9-4.2816 Exempt Housing Projects to add 9-4.2816 (b) and renumbering (b) to (c); and amending Title 9, Chapter 10, to add Article 8 Incentives for Affordable Housing with Lot Consolidation, Sections 9-10.801 through 9-10.804 to the Thousand Oaks Municipal Code.
Background
City’s Housing Element identifies 1 8 programs and actions for meeting the Regional Housing Needs Allocation.
Housing Element Goal 1: Provide a wide range of housing opportunities for persons of all income levels.
Program 4: Lot Consolidation
Eliminate the administr ative hearing process and noticing requirements for lot consolidation and develop appropriate lot consolidation incentives that provide flexibility in site planning to facilitate mixed-use and multi-family development.
Program 6: Streamlined Review
Establish a streamlined, ministerial review process for qualifying multi-family residential projects (SB 35).
3 4
12/3/2024
3 Background
Proposed municipal code amendment would provide:
Text amendments to Chapter 3 Subdiv isions to add Section 9-3.1218 Voluntary Lot Mergers, to allow lot consolidation through a ministerial process.
Text amendments to Chapter 10 to add Article 8 Incentives for Lot Consolidation for Affordable Housing.
Text amendments to Chapter 4 to amend Section 9-4.2816 Administrative Permits for ministerial review of qualifying affordable housing projects as required by SB-35.
Proposed Voluntary Lot Mergers
Ministerial Approval, unless combined with
an application that r equires Discretionary
review
Allows for conditional approval to conform
with General Plan, Zoning or other
standards
Benefits:
No public hearing
Cost effective for property owners
Facilitates land assemblage for development
Rolling Oaks Cancer Center
5 6
12/3/2024
4 Eligible Projects for Incentives
Housing projects with lot merger under
either of following location and affordability
criteria:
1. Housing Inventory Sites with number of
affordable residential units identified in
the Housing Element; or
2. Mixed-Use, Mixed-Use Overlay Zone, or
Multiple-Family zoned sites:
• Minimum 20% of rental units
affordable to lower-income
households
• Minimum 20% of for-sale units
affordable to moderate-income
households
Incentives for Affordable Housing with
Lot Consolidation
Processing: A pre-application will be processed with no fees imposed. Location: Consolidated parcels may be a co mbination of Housing Element Inventory Sites and other multifamily or mixed-use sites Development Standards:
1) Reducing and waiving certain Mixed-Use (MU) standards; and 2) R-3 zoned properties may utilize the MU standards
Objective Standards: 1) reduction of minimum courtyard area and dimensions; and 2) waive the 50% limitation of units within a stacked dwelling building type project.
7 8
12/3/2024
5 Basis for Incentives
Incentives developed based on recent
projects
Increased economic viability for affordable
housing projects
Evaluation of Zoning and Objective Standards
waivers and modifications
Setbacks and building massing standards
Courtyard Area and Dimensions reductions
and Stacked Dwelling Type modifications
1730 Los Feliz Drive
2150 Hillcrest Specific Plan
Development Standards
INCENTIVEDEVELOPMENT STANDARD
Within 40 feet of side yard abutting a residential zone:
20-feet from property line - 25 feet maximum
20 feet to 40 feet from property line - 45 feet
maximum
Over 40 feet from property line - 50 feet maximum
Height – Maximum
8 feet (single-story), 10 feet (two-story walls)Side Setback – Minimum WaiveThird Floor Setback – Minimum 10-
foot average
35%Minimum Ground Floor Windows
(% Ground Floor Residential Façade)
WaiveGround Floor Plate Height – Minimum
14 feet
WaivePublic Exterior Space – Minimum 3%
(Mixed-Use Projects)
9 10
12/3/2024
6 Objective Design Standards Incentives
IncentiveObjective Standard
Reduce to 10%Minimum Courtyard area (15% of
lot area)
Reduce by 10 feetMinimum Courtyard Dimension
(30-40 feet based on orientation)
No less than a one to two (1:2) proportion between any
horizontal dimension and adjacent building height
Minimum Courtyard Dimension
(1:1 Horizontal dimension to
Building Height)
Waive maximum of 50% of units within projectStacked Dwelling Type Program 6
SB-35 Streamlined Review Eligibility and Process
Affordability: At least 50% of units are low income
Location: Not within any environmental conservation areas or natural hazard zones.
Zoning and Residential Uses: The development must be located on a legal parcel or parcels that are zoned for residential uses. Consistent with Objective Standards
Prevailing Wages: All construction workers employed in the execution of the development must be paid at least the general prevailing rate of per diem wages for the type of work and geographic area.
Skilled and Trained Workforce provisions: A skilled and trained workforce if the project consists of 50 or more units.
Notification to California Native American tribes
11 12
12/3/2024
7 General Plan Consistency
Goal LU-1: Create a land use pattern of development that preserves existing neighborhoods while providing opportunities for targeted infill projects in strategic locations to enhance the quality of life, preserve the natural environment, and ensure the long-term fiscal viability of Thousand Oaks.
• Policy 1.1 Overall City structure. Establish a clearly defined urban pattern of development and open space by: …
• Incentivizing and streamlining infill multi-family development. • Incentivizing and streamlining infill residential at mixed-use designations, including adding residential development on existing parking lots and underutilized portions of the site.
…
General Plan Consistency
Goal LU-4: Support the creation of safe, affordable, and sanitary housing for all ages, income levels, and abilities.
• Policy 4.5 Affordable housing stock. Increase the number and diversity of affordable housing units in the City and encourage housing of varying income levels and unit sizes/ floor plans.
Goal LU-8: Support high-quality and visually interesting design and construction of all buildings throughout the City.
• Policy 8.6 Lot consolidation. Encourage assembly of small parcels along commercial and mixed-use corridors to achieve a cohesive pedestrian-oriented development and building design. Allow modifications to development standards to encourage lot consolidation. 13 14
12/3/2024
8 Recommendation
1. Find that the proposed action requires no further environmental document pursuant to Sections 15183 and 15168(c)(2)(5) of the California Environmental Quality Act (CEQA) because the proposed actions are consistent with the City’ s goals, policies and programs contained in the adopted General Pl an and Housing Element under a certified Program Environmental Impact Report (EIR).
2. Read in title only, further reading be waived, and if no objection, introduce ordinance approving MCA 2024-70004 am ending Title 9, Chapter 3, Article 12 to add Sectio n 9-3.1218 Voluntary Lot Mergers; amending Title 9, Chapter 4, Articl e 28, Section 9-4.2816 Exempt Housing Projects to add 9-4.2816 (b) and renumbering (b) to (c); and amending Title 9, Chapter 10, to add Ar ticle 8 Incentives for Affordable Housing with Lot Consolidation, Se ctions 9-10.801 through 9-10.804 to the Thousand Oaks Municipal Code.
15 16
1 12/3/2024
East County Family
Justice Center
12/3/2024
What is a Family Justice Center
2 1
2 Item No. 12.A.
2 12/3/2024
• Not replacing or duplicating
programs
• Existing resources put under
one roof to eliminate runaround
• More access to service & better
coordinated
• Location paid by federal, state,
or local government
• Services provided by partners
Sharing Resources
3 East County Location
Needed
• Family Justice Center to
serve Thousand Oaks,
Simi Valley, and
Moorpark.
• Estimated 600 Families
to be served annually.
3 4
3 12/3/2024
• County is looking at East County
cities for an appropriate location.
• Specific criteria for a location
needed.
• Cost-sharing requirement for
purchase of building.
Locating new FJC
5 Carmen Ramirez Family Justice Center
1. Receive report and provide direction related to City Council’s interest in locating the County’s East County Family Justice Center in the City of Thousand Oaks.
2. Find that this action is not a project as defined under the California Environmental Quality Act.
Recommendation
6 5
6 4
12/3/2024
Thank you!
7 1
12/3/2024
December 3, 2024 - City Council Meeting
Public Works Department Report
Elaine Camia, PE- Associate Engineer
David Chavez- Landscape Maintenance Supervisor
Thousand Oaks Boulevard
Landscape Improvements Project
Thousand Oaks Boulevard
between Duesenberg Drive
and Via Colinas
Project Limits
2 2
3 Item No. 12.B.
2 12/3/2024
Project Benefits
Improved Aesthetics and
Beautification of T.O. Blvd.
Sustainable Landscape
and Water Savings
Implement the City's
Forestry Master Plan (FMP)
and Climate & Environmental
Action Plan (CEAP)
3 State Water Quality Mandate
• Regrade median to reduce runoff onto streets
MWELO
• Remove turf from medians
• Low water use / drought tolerant plants
• Improve irrigation
State Mandates
4 4
5 3
12/3/2024
Project Phasing
5 Phase 1 - Tree Removals Phase 2 - Landscape Improvements • Remove existing dying, poor health,
and other trees designated as species
inappropriate in the median
• Removals to take place January 2025
Phase 1 - Tree Removals
7 6
7 4
12/3/2024
Phase 2 - Landscape Improvements
Arctostaphylos edmundsii/
Carmel Sur Manzanita
Westringia fruticosa
‘Grey Box’ / Dwarf Coast
Rosemary
Muhlenbergia rigens/
Deer Grass
Galvezia speciosa/ Firecracker
Island Snapdragon
Bulbine frutescens
‘Hallmark’/ Orange Bulbine
Quercus hypoleucoides
/ Silver Leaf Oak
Quercus suber /
Cork Oak
Quercus oblongifolia /
Mexican Blue Oak
Muhlenbergia
capilaris ‘White Cloud’
X Chitalpa tashkentensis ‘Morning
Cloud’ / Morning Cloud Chitalpa
Phase 2
Landscape Improvements
8 Planting of 43 new trees
• 6 flowering ornamental trees
• 37 oak trees
• Project nets 5 more trees
8 9
5 12/3/2024
Phase 2 - Landscape Improvements
9 Current Condition With Landscape Improvements
Phase 2 - Landscape Improvements
10 Current Condition With Landscape Improvements
10 11
6 12/3/2024
Contract
Award
Early Spring
Project Timeline
11 Project
Management
4/24-late 2025
Project
Management
4/24-late 2025
Preliminary
Investigations
4/24 – 6/24
Preliminary
Investigations
4/24 – 6/24
Conceptual
Design
5/24-6/24
Conceptual
Design
5/24-6/24
Public
Webinar
10/30
Public
Webinar
10/30
Construction
Documents
and Bid
6/24 – 2/25
Construction
Spring 2025 –
Late 2025
Construction
Spring 2025 –
Late 2025
0 Already conducted:
• Mailer invitations
• Public outreach webinar
• Project webpage: toaks.gov/toblandscape
• Social media
• E-Newsletter
To come:
• Resident and business postcard with
construction information
• Ongoing construction schedule on project
webpage - toaks.gov/toblandscape
Public Outreach
12 12
13 7
12/3/2024
Project Costs
13 CostItem
$ 325,000Design, Engineering and Landscape Architecture $ 5,000City Furnished Materials
$ 170,000Phase 1 – Estimate (Future)
$ 1,640,000Phase 2 - Estimate (Future)
$ 160,000Contruction Contingency (Future)
$ 130,000Engineering Construction Support (Future)
$2,500,000Estimated Total
0 • Authorize staff to advertise the TOB Landscape Improvements Project Phase 2 (CI 5653) for construction bids
• Find that this action is not a project as defined under the California Environmental Quality Act
Recommendations
15 EC0
14 15
8 12/3/2024
Thank you!
16 1
12/3/2024
City Council Meeting
December 3, 2024
Downtown Project
1. Background & Previous Council Actions
2. Consultant Team Selection
3. Community Workshops
4. Staff Recommendation & Next Steps
Agenda
1 2
Item No. 12.C
2 12/3/2024
Previous Council
Actions
Key Elements of Downtown Core Master Plan (2018)
• Be the “place to go” in the City
• Diverse shopping and entertainment
• Entertainment and night life choices
• Variety of uses and gathering places that appeal to
people of all ages
• Active pedestrian-oriented uses on the ground
floor
• “Park once” strategy
4 3
4 3
12/3/2024
5 5
6 4
12/3/2024
Areas of Further Study
7 Site plan
• Greater degree of refinement and architectural style
Structural
• Will proposed modifications to building present seismic/structural issues? • Are proximity of new structures to existing structures achievable? Geotechnical
• Can grading be achieved in certain areas?
• Will soils allow for subterranean parking?
Market viability & Financing Strategy
• Have we created environment for businesses to function – parking, visibility? • How do we leverage private investment?
8 7
8 5
12/3/2024
9 10
9 10
6 12/3/2024
11 • Explore possible program components
and relationship between each
• Abstract and lightly technical
• No defined dimensions or styles
• Communication tool to engage non-
architects/engineers
• Define and realize program components
• Depicts physical elements with specificity
• Constructible plans with high level of
detail
• Communication tool for industry
professionals
Concept
12 Design
11 12
7 12/3/2024
1. Declare Westside Parcel as
public surplus and authorize 60
day availability notice
(June 18, 2024)
2. Authorize advertisement of RFP
for Architectural/Engineering &
Entitlement Services
(May 7, 2024)
Significant Council Actions
13 Action
• Surplus Lands Act noticing period
ended Sep 2, 2024 with no
requests to negotiate.
• 9 proposals received and top
candidate recommended for
approval.
Result
Consultant Team
Selection
13 14
8 12/3/2024
Engineering
Geotechnical analysis, Site
Survey, Utility plan,
Preliminary Grading
Architectural Design of
new City Hall
Architectural Style Refinement
& Selection
Interior Space Planning and
Circulation
Exterior building design
Architectural Language
for Program
Material and style integration
of existing City Hall
Design framework for
Commercial/Mixed-use
Circulation and Traffic
Analysis
Traffic impact analysis
Internal circulation analysis
Traffic counts and modeling
Downtown Parking
Utilization
Parking modeling
Downtown parking district
framework
Multi-modal transportation
strategies
Preparation of Formal
Submittal
Prepare final application
Public Hearing support
Architectural/Engineering Scope
15 Architectural/Engineering
Consultant Team
16 +
15 16
9 12/3/2024
Sunnyvale City Hall
17 18
10 12/3/2024
19 Adaptive Reuse
Real estate market scan Alternative delivery
methods analysis Capital stack analysis
Recommended mix of
sources
Naming rights
opportunities
Cost validation services P3 Advisory Services
Market sounding
RFP development for
solicitation of P3 partners
Evaluation of proposals
Draft Development
Agreement(s)
Developer performance
monitoring
Master Lease agreements
Financial Services for Public Private Partnership
20 19
20 11
12/3/2024
Financial Services Consultant Team
21 Community
Workshops
21 22
12 12/3/2024
Community Informed Design Process
23 Focused
Topic
Discussions
Arts &
Entertainment
Landscape
Architecture
and Oak Tree
Preservation
Accessibility
and Disabled
access
Visitor
Experience &
Business Mix
Sustainability
Community
Workshops
February
Workshop –
Community
Preferences
March
Workshop –
Design
Confirmation
City Council
Workshops
March
Workshop
April
Workshop toaks.gov/downtown
Staff
Recommendation
23 24
13 12/3/2024
1. Approval of Architectural/Engineering Agreement ($4.6M)
2. Approval of Financial Services Agreement ($1M)
3. Approval of Legal Service Agreement ($300K)
Recommendations
25 Next Steps
26 TimeframeMilestone
December 3, 2024Contract Award (tonight’s Council action) January – March 2025Focused Discussions (5) and Public Workshops (2) March & April 2025City Council Workshops
Summer 2025 – Winter 2026Environmental Review
Spring 2026Entitlement Hearings: Planning Commission & City Council 25 26
14 12/3/2024
Q & A
Deep Project Understanding and Proven Track
Record
28 27
28 15
12/3/2024
% of HorusHours% of BudgetBudgetTask
15%2,546 16%$ 657,075 Task 1: PROJECT MANAGEMENT
6%958 11%$ 467,715 Task 2: SITE ASSESSMENT & PROJECT SUPPORT 36%6,000 31%$ 1,288,950 Task 3: SCHEMATIC DESIGN - STRUCTURES 19%3,126 15%$ 620,620 Task 4: URBAN DESIGN & SITE DEVELOPMENT 2%344 2%$ 66,160 Task 5: CIRCULATION & TRAFFIC IMPACT ASSESSMENT 3%498 3%$ 118,515 Task 6: ANALYSIS OF FUTURE DOWNTOWN PARKING UTILIZATION 16%2,755 14%$ 556,825 Task 7: SCHEMATIC DESIGN
4%624 5%$ 192,500 Task 8: PUBLIC OUTREACH & ENGAGEMENT SUPPORT 0%-1%$ 58,000 Task 11: OPTIONAL TASKS
0%-2%$ 79,367 Expenses
16,851 $ 4,105,727 Total
Fee Schedule
29 29