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02-02-21 Agenda Packet
Steve Vaus Barry Leonard Dave Grosch Caylin Frank John Mullin Mayor Deputy Mayor Councilmember Councilmember Councilmember c Thank you for participating in your local government and the City of Poway council meetings. Meetings | Regular City Council meetings are held on the first and third Tuesday of the month at 7:00 p.m. Meetings | Pursuant to the Governor’s Executive Order N-29-20, a local legislative body is authorized to hold public meetings via teleconferencing and to make public meetings accessible telephonically or otherwise electronically to all members of the public seeking to observe and to address the local legislative body, during the period in which local public officials impose measures to promote social distancing. Although this Regular City Council meeting will be held at the Council Chambers located at 13325 Civic Center Drive, Poway, CA 92064, the Council Chamber will not be open to the public. Remote public participation is encouraged in one of the following ways: To Watch Live: To Speak and Participate: www.poway.org/councilmeetings Go to: www.poway.org/meeting and join using “Computer Audio” If your electronic device has no microphone or speakers: Call: (877) 853 – 5247 Enter Meeting ID: 623 291 9830 Enter Participant ID provided on your computer PLEASE NOTE: If you wish to participate, please also read the Speakers section for detailed instructions as it has changed. Public Meeting Access | Residents are strongly encouraged to participate and view remotely at the February 2, 2021 meeting livestream via www.poway.org/councilmeetings (to watch live), via www.poway.org/meeting (to speak and participate), or on Cox Communications Channel 24 and Spectrum Channel 19. Meetings are rebroadcast on Mondays, Thursdays and Fridays at 6 p.m. and Saturday and Sundays at 3 p.m. Council meeting videos are archived and available for viewing on the City’s website at www.poway.org/councilmeetings. Submission of written comments concerning items on the agenda is encouraged. Speakers | If viewing online or calling in via telephone, it is highly recommended to log in to the waiting room at least 15 to 30 minutes prior to the commencement of the meeting. Persons wishing February 2, 2021 | 7 p.m. AMENDED THURSDAY, JANUARY 28, 2021 2 of 4 Regular City Council Meeting February 2, 2021 to address the Council on matters not on the agenda may do so under Public Comment. Those wishing to speak on items on the agenda may do so when the item is being considered. If you wish to speak and are joining the meeting online, please let the City Clerk know prior to the meeting or the announcement of the item by raising your hand digitally or by submitting a chat. If you are not using your computer’s audio, please remember to enter your Participant ID on your computer screen when prompted on the phone. If you choose to call in without logging in online and you wish to speak on an item, you may press *9 when the Mayor asks for speakers at the time that the item you wish to speak on is being considered. You may speak up to three (3) minutes. The Mayor may reduce this time if there are a large number of speakers. PLEASE NOTE: Comments submitted via email will be accepted until 3:00 p.m. of the meeting date and distributed to the City Council as well as be made available online after the meeting. Technical Support | For more information on how to connect, visit www.poway.org/meetinghelp. If you have trouble connecting or accessing the meeting, the Information Technology team is available to help at (858) 668-4451. Agenda Materials | This agenda contains a brief summary of each item the Council will consider. The Agenda and Agenda Packet is posted seven (7) days prior to regular City Council meetings and are available for viewing on the City’s website at www.poway.org. Sign up at https://poway.org/list.aspx to receive email notifications when City Council agendas are published online. Items listed on the agenda with a “#” symbol are in preparation. American Disabilities Act Title II | In compliance with the Americans with Disabilities Act of 1990, persons with a disability may request an agenda in appropriate alternative formats as required by Title II. Any person with a disability who requires a modification or accommodation in order to participate in a meeting should direct such request to the City Clerk’s office 858.668.4530 at least 24 hours prior to the meeting. The City Council also sits as the City of Poway Planning Commission, Poway Housing Authority, Public Financing Authority and Successor Agency to the Poway Redevelopment Agency CALL TO ORDER: ROLL CALL: PLEDGE OF ALLEGIANCE: MOMENT OF SILENCE: PRESENTATION: 3 of 4 Regular City Council Meeting February 2, 2021 PUBLIC COMMENT: In accordance with State law, an item not scheduled on the agenda may be brought forward by the general public for comment; however, the City Council will not be able to discuss or take action on any issue not included on the agenda. You may speak up to three (3) minutes. Speakers have one opportunity to address the Council under Public Comment. CONSENT CALENDAR: The Consent Calendar may be enacted in one motion by the Council with a Roll Call Vote without discussion unless a Councilmember, a member of the public, or City Manager requests that an item be removed for discussion. 1. Approval of Reading by Title Only and Waiver of Reading in Full of Ordinances on this Agenda 2. Approval of the December 15, 2020 Regular City Council Meeting Minutes 3. Resolution to Continue the Existence of a Local Emergency within the City of Poway Due to the Novel Coronavirus (COVID-19) Global Pandemic 4. Acceptance of the Swim Center Deck Coating Project, Bid No. 21-005, with Harbor Coating and Restoration as Complete 5. Acceptance of the Swim Center Valve and Strainer Replacement Project, Bid No. 21-006, with AToM Engineering Construction Inc. as Complete 6. City’s Investment Report as of December 31, 2020 ORDINANCES FOR INTRODUCTION: None ORDINANCES FOR ADOPTION: None PUBLIC HEARINGS: None STAFF REPORTS: 7. Senior Services at the Mickey Cafagna Community Center City Manager’s Recommendation: This is an informational report, there is no recommended action. WORKSHOPS: None COUNCIL-INITIATED ITEMS: 8. Amend Poway Road Specific Plan to Allow for Thrift Stores in the Mixed-Use and Town Center Zones – added on 1/28/21 Recommendation: It is recommended that Council concur to direct staff to amend the Poway Road Specific Plan to allow thrift stores in the Mixed-Use and Town Center zones, subject to approval of a Conditional Use Permit Application. COUNCIL COMMITTEE REPORTS and ANNOUNCEMENTS: Pursuant to AB1234 - (G.C. 53232(d)) AGENDA RE PO RT City of Poway DATE: TO: FROM: February 2, 2021 Honorable Mayor and Members of the City Council Vaida Pavolas, City Clerk •. (858) 668-4535 or vpavolas@poway.org CITY COUNCIL SUBJECT: Approval of the December 15, 2020 Regular City Council Meeting Minutes Summary: The City Council Meeting Minutes submitted hereto for approval are: • December 15, 2020 Regular City Council Meeting Minutes The Poway City Council sits as the Poway Planning Commission, the Poway Housing Authority, the Public Financing Authority, and the Successor Agency to the Poway Redevelopment Agency. Recommended Action: It is recommended that the City Council approve the December 15, 2020 Regular City Council Meeting Minutes. Public Notification: None. Attachments: A. December 15, 2020 Regular City Council Meeting Minutes Reviewed/ Approved By: Wen{:j serman Assistant City Manager 1 of7 Reviewed By: Alan Fenstermacher City Attorney Approved By: Chrb. City Manager February 2, 2021, Item #2 NOTE: These draft meeting minutes are not official until approved by the City Council at the next scheduled meeting. CITY OF POWAY CITY COUNCIL REGULAR MEETING MINUTES December 15, 2020 City Council Chambers 13325 Civic Center Drive, Poway, California (Per Government Code 54953) (Meeting Called to Order as City Council/City of Poway Planning Commission/Poway Housing Authority/Public Financing Authority and Successor Agency to the Poway Redevelopment Agency) CALL TO ORDER Mayor Vaus called the Regular Meeting to order at 7:00 p.m. ROLL CALL John Mullin, Barry Leonard, Dave Grosch, Caylin Frank, Steve Vaus STAFF MEMBERS PRESENT City Manager Chris Hazeltine; Assistant City Manager Wendy Kaserman; City Attorney Alan Fenstermacher; City Clerk Vaida Pavolas; Development Services Director Bob Manis; Finance Director Aaron Beanan; Human Resources and Risk Management Director Jodene Dunphy; Fire Chief Jon Canavan; Captain Dave Schaller, Sheriffs Department (Note: Hereinafter the titles Mayor, Deputy Mayor, Councilmember, City Manager, Assistant City Manager, City Attorney, City Clerk and Director of Finance shall be used to indicate Mayor/Chair, Deputy MayorNice Chair, Councilmember/Director, City Manager/Executive Director, Assistant City Manager/Assistant Executive Director, City Attorney/Counsel, City Clerk/Secretary and Director of Finance/Finance Officer.) PLEDGE OF ALLEGIANCE Deputy Mayor Frank led the Pledge of Allegiance. MOMENT OF SILENCE Mayor Vaus led a moment of silence. PUBLIC COMMENT Chris Olps, via teleconference, expressed traffic calculation concerns for the Fairfield project. CONSENT CALENDAR Motioned by Mayor Vaus, seconded by Deputy Mayor Frank to approve Consent Calendar Items 1 through 8. Motion carried by the following roll-call vote: 2 of7 ATTACHMENT A February 2, 2021, Item #2 City of Poway -Minutes -December 15, 2020 Ayes: Noes: Abstained: Absent: Disqualified: Mullin, Leonard, Grosch, Frank, Vaus None None None None 1. Approval of Reading by Title Only and Waiver of Reading in Full of Ordinances on this Agenda 2. Approval of the November 17, 2020 Regular City Council Meeting Minutes 3. Adoption of Resolution No. 20-093 entitled "A Resolution of the City Council of the City of Poway, California, Finding and Declaring the Continued Existence of an Emergency Within the City Due to the Novel Coronavirus (COVID-19) Global Pandemic" 4. Adoption of Resolution No. 20-097 entitled "A Resolution of the City Council of the City of Poway, California, Reciting the Fact of the General Municipal Election Held on November 3, 2020, Declaring the Results Thereof and Such Other Matters As Provided By Law" 5. Approval of Local Appointments List of City Council Appointed Committees for 2021 6. Award of Contract to Kay Construction Co. for the WTP Clearwell Distribution Flow Meters Project; Bid No. 21-008 7. Award of Contract to Autolift Services, Inc. for the Fleet Maintenance Equipment Lift Replacement Project; Bid No. 21-007 8. Approval of Final Parcel Map for Tentative Parcel Map 19-001; Alva A. Diaz Trust, Owner (APN 323-190-51) PRESENTATIONS City Clerk Vaida Pavolas administered the Oath of Office to Councilmember Leonard and presented him with the Certificate of Election for District 2. City Clerk Vaida Pavolas administered the Oath of Office to Councilmember Frank and presented her with the Certificate of Election for District 4. Mayor Vaus presented a Proclamation to Executive Assistant to the City Manager Carol Legg upon her retirement. Council expressed their appreciation for the dedication and service Ms. Legg has given to the Poway community. ORDINANCES FOR INTRODUCTION None. ORDINANCES FOR ADOPTION 9. Second Reading and Adoption of Ordinance No. 846 entitled "An Ordinance of the City Council of the City of Poway, California, Amending Chapter 10.42 (Truck Routes and Maximum Gross Weight Limits) of the Poway Municipal Code" 3 of7 February 2, 2021, Item #2 City of Poway -Minutes -December 15, 2020 No speakers. Motioned by Councilmember Leonard, seconded by Councilmember Mullin to adopt Ordinance No. 846 entitled "An Ordinance of the City Council of the City of Poway, California, Amending Chapter 10.42 (Truck Routes and Maximum Gross Weight Limits) of the Poway Municipal Code". Motion carried by the following roll-call vote: Ayes: Noes: Abstained: Absent: Disqualified: PUBLIC HEARINGS Mullin, Leonard, Grosch, Frank, Vaus None None None None 10. Variance 20-003; A Request to Allow Four Additional Wall Signs and Three Additional Monument Signs at 14400 and 14500 Kirkham Way Mayor opened the public hearing at 7:30 p.m . Senior Planner Austin Silva presented the report along with a PowerPoint presentation. Mr. Silva explained that the site known as Vantage Point is occupied by an Amazon distribution center and the request for additional wall and freestanding signs are warranted due to the unique circumstances applicable to the property. He explained that the site and buildings are exceptionally large for a single-tenant, fronts on three streets with three driveway entrances and is 40 to 50 feet higher than the adjacent street grade levels and that the existing signage is not readily visible from adjacent streets. He concluded that all wall signs are non-illuminated and would be consistent with the standards set forth in the South Poway Specific Plan. Kathy Brandon, via teleconference, spoke in opposition to the project. Applicant Ryan Grove, via teleconference, spoke in support of the project. Mayor closed the public hearing at 7:34 p.m. Council discussion ensued in support of the Variance. In response to Council inquiry, Mr. Silva clarified that the size of the signs would not exceed 150 feet in height per the South Poway Specific Plan. Motioned by Mayor Vaus, seconded by Councilmember Mullin to adopt Resolution No. 20-094 entitled "A Resolution of the City Council of the City of Poway, California, Approving Variance 20-003 to Allow for Additional Signage; Assessor's Parcel Number 323-091-09". Motion carried unanimously. 11. Tentative Tract Map (TTM) 18-005: A Request to Subdivide Two Parcels into Six Single- Family Residential Lots Located at 12102 and 12118 Poway Road Mayor opened the public hearing at 7:40 p.m. Associate Planner Oda Audish presented the report along with a PowerPoint presentation. Ms. Audish explained that the project is a request to subdivide two parcels totaling 1.7-acres 4of7 February 2, 2021, Item #2 City of Poway-Minutes -December 15, 2020 into six single family residential lots and construct a private street off of Crest Road. Ms. Audish added that the applicant has not proposed any home development at this time, however lot sizes will be constructed to comply with building setback requirements to allow for future development in the Very High Fire Hazard Area. She explained that future home development will be subject to a Minor Development Review Application per lot or future City Council approval if a tract home development is desired. At the applicant's request, staff recommended approval of a revised Resolution to eliminate the following condition of approval. i. j. Ongoing maintenance of the onsite private se1Ner and >Nater systems are required to the satisfaction of the Director of Safety Services and the Director of Public Works. The CC&Rs shall gi11e the City the right but not the duty to enter the premises to do maintenance and le1,'y assessments if the homeowners fail or refuse to maintain said facilities. No speakers. Mayor closed the public hearing at 7:49 p.m. Council expressed support for the project. Motioned by Mayor Vaus, seconded by Councilmember Grosch to adopt Resolution No. 20-095 entitled "A Resolution of the City Council of the City of Poway, California, Approving Tentative Tract Map 18-005 for a Six-Lot Subdivision, Assessor's Parcel Numbers 316-120-18 and 316-120-25". Motion carried unanimously. 12. Tentative Parcel Map 20-001; A Request for Approval of a Third One-Year Time Extension for a Previously Approved Subdivision Mayor opened the public hearing at 7:50 p.m. Associate Planner Oda Audish presented the report along with a PowerPoint presentation. No speakers. Mayor closed the public hearing at 7:54 p.m. In response to Council inquiry, City Attorney Alan Fenstermacher clarified that our municipal code requires City Council approval for time extension requests. Motioned by Mayor Vaus, seconded Deputy Mayor Frank to adopt Resolution No. 20- 096 entitled "A Resolution of the City Council of the City of Poway, California, Approving Tentative Parcel Map 20-001; A Third One-Year Time Extension of the Approval for Tentative Parcel Map 08-002 Assessor's Parcel Number (APN): 317-200- 26". Motion carried unanimously. STAFF REPORTS 5 of7 February 2, 2021, Item #2 City of Poway -Minutes -December 15, 2020 13. Request for Qualifications for the Development of the Monte Vista Affordable Housing Site Director of Development Services Bob Manis presented the report and explained that per Council's direction at the September 1, 2020 City Council meeting, staff drafted a Request for Qualifications for an affordable housing project with units designed for developmentally disabled adults and veterans located at the Monte Vista Road property owned by the Poway Housing Authority. Per Council's direction, staff is requesting input on the proposal prior to releasing the document. Mr. Manis highlighted that staff is recommending a two-step process that initially solicits for request for qualifications and from that develop a list of qualified firms who will advance to the Request for Proposals (RFP) round of the solicitation. Tony Rubino, via teleconference, spoke in support of additional affordable housing in Poway. Acting as the Poway Housing Authority, Council expressed support for the two-step qualification process and provided direction to staff to eliminate the Sustainable and Energy- Efficient objective and revise the proposed project description to target a mix of half of the units designated for developmentally disabled adults and the remaining units for veterans. 14. Conveyance of Real Property to the City of Poway from Dandeana Corp., a California Corporation (APN #s 316-140-38 and 316-140-39) Director of Development Services Bob Manis presented the report along with a PowerPoint presentation. Mr. Manis explained that the owners of the two vacant lots totaling approximately three acres approached the City to donate the land as open space. No speakers. Motioned by Mayor Vaus, seconded by Councilmember Leonard to 1) authorize staff to enter into negotiations with Dandeana for the donation of the properties to the City of Poway; 2) authorize the appropriation of $500 from the Habitat In-Lieu Fee Fund Balance (F2520-89010) to acquire the property; and 3) authorize the City Manager to execute the Donation Agreement and any other documents needed to complete the acquisition. Motion carried unanimously. WORKSHOPS None. COUNCIL-INITIATED ITEMS 15. Appointment of Deputy Mayor for 2021 Council concurred to appoint Councilmember Leonard to serve as Deputy Mayor for 2021. 16. Appointment to Regional Agencies' Boards, Commissions and Committees for 2021 Council concurred to make the following appointments to the regional agencies' Boards, Commissions and Committees for calendar year 2021: 6 of7 February 2, 2021, Item #2 City of Poway-Minutes -December 15, 2020 1. San Diego Division, League of California Cities a. Primary -Caylin Frank b. 1st Alternate -Dave Grosch 2. Metropolitan Transit System (MTS) a. Primary -Caylin Frank b. 1st Alternate -John Mullin 3. San Diego Association of Governments Board (SANDAG) a. Primary -Steve Vaus b. 1st Alternate -John Mullin c. 2nd Alternate -Caylin Frank 4. Metro Wastewater Commission/JPA a. Primary -John Mullin b. 1st Alternate -Director of Public Works 5. San Dieguito RiverPark JPA a. Primary-Dave Grosch b. 1st Alternate -Barry Leonard 6. City of Poway/PUSD Joint Use Subcommittee for lnterjurisdictional Cooperation a. Primary -Barry Leonard b. 1st Alternate -Caylin Frank 7. Regional Solid Waste Association (RSWA) a. Primary -Dave Grosch b. 1st Alternate -John Mullin 8. Goodan Ranch Policy Committee a. Primary -Barry Leonard b. 1st Alternate -Community Services Manager COUNCIL COMMITTEE REPORTS and ANNOUNCEMENTS: Pursuant to AB1234 -(G.C. 53232(d)) The Mayor and Council made announcements and reported on various events taking place in the City. No action was taken. CITY MANAGER ITEMS: None. CITY ATTORNEY ITEMS: (Including any public report of any action taken in closed session) None. ADJOURNMENT The meeting adjourned at 8: 16 p.m. 7 of7 Vaida Pavolas, CMC City Clerk City of Poway, California February 2, 2021, Item #2 February 2, 2021, Item #3DATE: TO: FROM: CONTACT: SUBJECT: Summary: February 2, 2021 Honorable Mayor and Mem~. -rs f the City Council Jon M. Canavan, Fire Chief {fjJ.J Jon M. Canavan, Fire Chief (858) 668-4461 or jcanavan@poway.org Resolution to Continue the Existence of a Local Emergency Within the City of Poway Due to the Novel Coronavirus (COVID-19) Global Pandemic The Novel Coronavirus (COVID-19) global pandemic continues to cause unprecedented impacts on all economic and social segments of the United States. Federal, state, and county directives, mandates and orders to prevent, control and manage the spread of COVI D-19 have, and continue to, impact Poway residents, businesses and visitors. On March 18, 2020, the City Council approved a resolution proclaiming a local emergency. The adopted resolution requires the City Council to either continue the emergency action or declare the emergency ended at each regular meeting. Recommended Action: It is recommended that the City Council approve a resolution continuing the Proclamation of Local Emergency authorizing the City Manager to take necessary actions to protect the public and welfare of the City from the serious and imminent threat of COVI D-19. This action requires a four-fifths (4/5) vote of the City Council. Discussion: The COVID-19 global pandemic continues to impact business, education, healthcare, military, and social segments of the United States. COVID-19 has resulted in a swift economic slowdown and high unemployment rates. Federal, state, and county directives, mandates, orders and guidelines have been issued to prevent, control and manage the spread of COVI D-19. While efforts are focused on re-opening the economy and relaxing restrictions, impact on Poway residents, businesses and visitors continues. In response to the COVI D-19 global pandemic, and its impact on Poway, the City Manager, serving as Director of Emergency Services for the City of Poway, proclaimed a local emergency on March 13, 2020. On March 18, 2020, the City Council approved Resolution No. 20-013 ratifying the City Manager's Proclamation of Local Emergency. On April 7, April 21, May 5, May 19, June 2, June 16, July 7, July 21, August 4, September 1, September 15, October 6, October 20, November 17, December 1, December 15, 2020, and January 19, 2021, the City Council approved to continue the emergency action. The adopted resolution requires the City Council to either continue the emergency action or declare the emergency ended at each regular meeting. 1 of 5 February 2, 2021, Item #3Environmental Review: This action is not subject to review under the California Environmental Quality Act (CEQA). Fiscal Impact: As of January 19, 2021, City costs to respond to COVID-19 are estimated at $778,565. This amount differs from the amounts in the COVI D-19 Economic Update staff report presented to Council on September 15, 2020 primarily because the amounts listed here relate to FEMA eligible expenditures. The total fiscal impact is unknown at this time. Per the City Council adopted General Fund Reserve policy, the City maintains a General Fund Reserve of 45 percent of the budgeted annual General Fund operating expenditures, or $19,233,004 as of June 30, 2020, net of the $2,000,000 used from the Extreme Events/Public Safety reserve the City Council approved on April 16, 2020 to fund the Poway Emergency Assistance Recovery Loan (PEARL) program. The PEARL program is discussed in more detail below. Within that 45 percent, $12,142,455 is set aside for Extreme Events/Public Safety. Based upon the City's reserve policy, there are adequate reserves to cover the costs to respond to this health emergency. Further, staff believes some of the costs are recoverable under State and Federal Disaster programs. Amounts recovered under these programs will be used to replenish the General Fund reserve. Pursuant to the reserve policy, staff will return with a plan to replenish any General Fund reserves not replenished under a State or Federal Disaster program. Staff will recommend applicable budget adjustments prior to the completion of the current fiscal year. In addition to using reserves to respond to COVID-19, as mentioned above, on April 16, 2020, the City Council approved $2,000,000 to fund the PEARL program for small businesses. The PEARL program's goal is to offer financial assistance to small businesses located in Poway by complementing existing state and federal loan programs and to provide a financial bridge to businesses to survive the current emergency. The PEARL program provides loans of up to $50,000 to eligible business. As of January 19, 2021, staff has received 79 applications requesting $2,862,165 in loans. Based on staff's review, 35 loans totaling $1,385,326 have been approved. The reserve fund will be replenished from the repayment of PEARL loans over a three-year period following the end of the local COVID-19 emergency. This period falls within the General Fund Reserve Policy's direction to fully replenish reserves within five years of use. Public Notification: None. Attachments: A. Resolution B. Proclamation of Local Emergency Reviewed/ Approved By: Wend aserman Assistant City Manager 2of 5 Reviewed By: Alan Fenstermacher City Attorney City Manager February 2, 2021, Item #3RESOLUTION NO. 21-A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA, FINDING AND DECLARING THE CONTINUED EXISTENCE OF AN EMERGENCY WITHIN THE CITY DUE TO THE NOVEL CORONAVIRUS (COVID-19) GLOBAL PANDEMIC WHEREAS, the Novel Coronavirus (COVID-19) global pandemic in the City of Poway, commencing on or about January 24, 2020 that creates a threat to public health and safety; WHEREAS, Government Code section 8630 and Poway Municipal Code (PMC) Section 2.12.060 empower the City Manager, acting as the Director of Emergency Services, to proclaim the existence of a local emergency when the City is affected by a public calamity, and the City Council is not in session; WHEREAS, on March 13, 2020, the City Manager, acting pursuant to Government Code section 8630 and PMC section 2.12.060, proclaimed the existence of a local emergency based on conditions of extreme peril to the health and safety of persons caused by the Novel Coronavirus (COVID-19) global pandemic; WHEREAS, on March 18, 2020, the City Council, acting pursuant to Government Code section 8630 and PMC section 2.12.065, ratified the existence of a local emergency within seven (7) days of a Proclamation of Local Emergency by the City Manager; WHEREAS, the City Council, acting pursuant to PMC section 2.12.065, approved extending the emergency declaration during regularly scheduled meetings on April 7, April 21, May 5, May 19, June 2, June 16, July 7, July 21, August 4, September 1, September 15, October 6, October 20, November 17, December 1, and December 15, 2020, and January 19, 2021; WHEREAS, Public Contract Code Section 20168 provides that the City Council may pass by four-fifths (4/5) vote, a resolution declaring that the public interest and necessity demand the immediate expenditure of public money to safeguard life, health, or property; WHEREAS, upon adoption of such resolution, the City Manager may expend any sum required in the emergency and report the same to the City Council in accordance with Public Contract Code Section 22050; WHEREAS, if such expenditure is ordered, the City Council shall review the emergency action at each regular meeting, to determine if there is a need to continue the action or if the Proclamation of Local Emergency may be terminated; and WHEREAS, such the Novel Coronavirus (COVID-19) global pandemic constitute an emergency within the terms of Public Contract Code Sections 20168 and 22050 which requires that the City Manager be able to act quickly and without complying with the notice and bidding procedures of the Public Contract Code to safeguard life, health, or property. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway hereby finds and declares: 3 of 5 ATTACHMENT A February 2, 2021, Item #3Resolution No. 21-Page 2 SECTION 1: An emergency continues to exist within the City as the result of the Novel Coronavirus (COVID-19) global pandemic; and (a) The continuing threat of the Novel Coronavirus (COVID-19) global pandemic requires that the City be able to expend public money in order to safeguard life, health, or property; (b) The City Manager, as the City's Personnel Officer, is authorized to take actions necessary to alter employee leave policies and ensure a safe and healthy workforce; (c) The City Manager is authorized to safeguard life, health, or property without complying with notice or bidding procedures; and (d) Once such expenditure is made, the City Manager shall report the conditions to the City Council at each regular meeting, at which time the City Council shall either continue the emergency action or declare the emergency ended. SECTION 2: This Proclamation of Local Emergency and all subsequent resolutions in connection herewith shall require a four-fifths (4/5) vote of the City Council. PASSED, ADOPTED AND APPROVED at a Regular Meeting of the City Council of the City of Poway, California on the 2nd day of February, 2021 by the following vote, to wit: AYES: NOES: ABSENT: DISQUALIFIED: Steve Vaus, Mayor ATTEST: Vaida Pavolas, CMC, City Clerk 4of 5 February 2, 2021, Item #3PROCLAMATION OF LOCAL EMERGENCY WHEREAS, section 2.12.060 of the Poway Municipal Code empowers the Director of Emergency Services to proclaim the existence or threatened existence of a local emergency when the City is affected or likely to be affected by a public calamity and the City Council is not in session; WHEREAS, the City Manager, as Director of Emergency Services of the City of Poway, does hereby find that conditions of extreme peril to the safety of persons and property have arisen within the City of Poway, caused by the Novel Coronavirus (COVID-19) commencing on January 24, 2020; WHEREAS, that the City Council of the City of Poway is not in session and cannot immediately be called into session; and WHEREAS, this Proclamation of Local Emergency will be ratified by the City Council within seven days of being issued. NOW, THEREFORE, IT IS HEREBY PROCLAIMED by the Director of Emergency Services for the City of Poway, that a local emergency now exists throughout the City and that said local emergency shall be deemed to continue to exist until its termination is proclaimed by the City Council; IT IS FURTHER PROCLAIMED AND ORDERED that during the existence of said local emergency the powers, functions, and duties of the emergency organization of this City shall be those prescribed by state law, ordinances, and resolutions of this City, and by the City of Poway Emergency Plan; and IT IS FURTHER PROCLAIMED AND ORDERED that a copy of this Proclamation of Local Emergency be forwarded to the State Director of the Governor's Office of Emergency Services with a request that; 1. The State Director find the Proclamation of Local Emergency acceptable in accordance with provisions of the Natural Disaster Assistance Act; and 2. The State Director forward this Proclamation, and request for a State Proclamation and Presidential Declaration of Emergency, to the Governor of California for consideration and action. PASSED AND ADOPTED by the Director of Emergency Services for the City of Poway this 13th day of March 2020. Director of Emergency Services 5 of 5 ATTACHMENT B February 2, 2021, Item #4AG EN DA REPORT City of Poway DATE: TO: FROM: CONTACT: February 2, 2021 Honorable Mayor and Members of the City Council Wendy Kaserman, Assistant City Manager Roger Morrison, Senior Management Analyst (858) 668-4581 or rmorrison@poway.org CITY COUNCIL SUBJECT: Acceptance of the Swim Center Deck Coating Project; Bid No. 21-005 with Harbor Coating and Restoration as Complete Summary: On November 17, 2020, the City Council awarded the contract for the Swim Center Deck Coating Project; Bid No. 21-005, to Harbor Coating and Restoration in the amount of $78,045.00. This action will accept the project as complete. Recommended Action: It is recommended that the City Council: (1) Accept the Swim Center Deck Coating Project as complete; (2) Authorize the City Clerk to file and record the Notice of Completion; (3) Authorize the release of the retention in the amount of $3,902.25, if unencumbered, 45 days after City Council acceptance; (4) Release the Ohio Casualty Insurance Company Bond for Material and Labor in the amount of $78,045.00 after the release of retention; and (5) Retain the Ohio Casualty Insurance Company Bond for Faithful Performance for a period of one year. Discussion: The Swim Center Deck Coating Project consisted of application of 17,128 square feet of primer and deck coating on the concrete deck of the Poway Swim Center and 1,150 square feet of primer and deck coating on the splash pad area. This project is now complete. There were no change orders. The final contract amount is $78,045.00. Environmental Review: This action is not subject to review under the California Environmental Quality Act (CEQA). 1 of 2 February 2, 2021, Item #4Fiscal Impact: Sufficient funds are available in the Swim Center Deck Coating Project account (BDG0008) for the release of retention. Upon project completion, funds remaining will be returned to the City Capital Improvement Fund (1060) and General Fund (1000) for use on future projects. Public Notification: None. Attachments: None. Reviewed/ Approved By: w;nT aserman Assistant City Manager 2 of 2 Reviewed By: Alan Fenstermacher City Attorney Approved By: Ch~ City Manager February 2, 2021, Item #5AGENDA REPORT CityofPoway DATE: TO: FROM: CONTACT: February 2, 2021 Honorable Mayor and Members of the City Council Wendy Kaserman, Assistant City Manager t,J\( Roger Morrison, Senior Management Analyst (858) 668-4581 or rmorrison@poway.org CITY COUNCIL SUBJECT: Acceptance of the Swim Center Valve and Strainer Replacement Project, Bid No. 21-006, with AToM Engineering Construction Inc. as Complete Summary: On November 17, 2020, the City Council awarded the contract for the Swim Center Valve and Strainer Replacement Project, Bid No. 21-006, to AToM Engineering Construction Inc. in the amount of $27,398.00. This action will accept the project as complete. Recommended Action: It is recommended that the City Council: (1) Accept the Swim Center Valve and Strainer Replacement Project as complete; (2) Authorize the City Clerk to file and record the Notice of Completion; (3) Authorize the release of the retention in the amount of $1,369.90, if unencumbered, 45 days after City Council acceptance; (4) Release the Ohio Casualty Insurance Company Bond for Material and Labor in the amount of $27,398.00 after the release of retention; and (5) Retain the Ohio Casualty Insurance Company Bond for Faithful Performance for a period of one year. Discussion: The Swim Center Valve and Strainer Replacement Project consisted of replacement of three 10-inch butterfly valves and a 10 X 10 pool strainer at the Poway Swim Center. This project is now complete. There were no change orders. The final contract amount is $27,398.00. Environmental Review: This action is not subject to review under the California Environmental Quality Act (CEQA). 1 of 2 February 2, 2021, Item #5Fiscal Impact: Sufficient funds are available in the Swim Center Valve and Strainer Replacement Project account (BDG0007) for the release of retention. Upon project completion, funds remaining will be returned to the City Capital Improvement Fund (1060) for use on future projects. Public Notification: None. Attachments: None. Reviewed/ Approved By: wendaserman Assistant City Manager 2 of2 Reviewed By: Alan Fenstermacher City Attorney Approved By: Ch~ City Manager AGENDA RE PO RT City of Poway DATE: TO: FROM: CONTACT: SUBJECT: Summary: February 2, 2021 Honorable Mayor and Members of the City Council Aaron Bea nan, Director of Finance� Aaron Beanan, Director of Finance (858)668-4411 or abeanan@poway.org City's Investment Report as of December 31, 2020 CITY COUNCIL Quarterly reports of investments are required to be presented to the City Council per state code and the City's Investment Policy. For your information, attached is an investment portfolio report as of December 31, 2020. Recommended Action: It is recommended that the City Council accept and file the attached report. Discussion: Pursuant to Government Code Sec. 53646(b)(1) and the City's Investment Policy, the Finance Director (i.e., Treasurer) renders a quarterly investment report to the City Council concerning the investment portfolio's earnings and performance results. In accordance with the Investment Policy, the quarterly report includes information such as the investment type, issuer, date of maturity, par value, amount invested, current market value, and the source of the market value information. The City is in compliance with its adopted investment policy, and the City's investment program provides sufficient liquidity to meet its cash flow requirements for the next six months. The fair value of the City's investment portfolio as of December 31, 2020, was $104,722,352. It consisted of the following: Investment Portfolio Total Deposits at CalTRUST $ 23,262,891 Deposits at the Local Agency Investment Fund (LAIF) 12,421,930 U.S. Treasury Notes 10,793,820 U. S. Instrumentalities 36,309,513 Corporate Notes 21,934,198 Fair Value of Investment Portfolio as of December 31, 2020 $104,722,352 1 of 29 February 2, 2021, Item #6 February 2, 2021, Item #6The attached portfolio report (attachment B) and investment report (attachment C) were prepared by the City's investment manager, Insight Investment, with input from the City's Finance Department. The portfolio report includes all investments while the investment report includes only those investments managed by Insight Investment. All City funds, including the General Fund, Water Fund, Wastewater Fund and others -except those identified in Attachment D, are pooled and invested, with earned interest allocated quarterly based on the average daily cash balance in each fund. The funds on deposit at LAIF and CalTRUST earn interest at variable rates. The interest rate for the month ending December 31, 2020, is estimated at 0.54% for LAIF, 0.49% for the CalTRUST short-term fund, and 0.69% for the CalTRUST medium-term fund. The values of fixed income securities, as legal investment tools authorized under California government codes, are closely tied with interest rates. As interest rates go up, the market values of the securities go down, and vice versa. This is known as interest rate risk or market risk. A portfolio's duration is a common measurement of interest rate risk. Due to anticipated actions of the Federal Reserve, the Finance Department, in conjunction with Insight Investment, has been increasing the duration of the externally managed investment portfolio since July 2019 by investing in longer-term investments (e.g. treasuries and corporate notes). The portfolio's weighted average duration is currently just under 2 years. This duration helps preserve the City's interest earning ability in an environment of declining interest rates as well as help increase market value. In response to the COVID-19 pandemic, the Federal Reserve lowered the target federal funds rate by 50 basis points on March 3, 2020 and 100 basis points on March 16, 2020. The target federal funds rate is currently between 0.00 percent and 0.25 percent. The Federal Reserve affirmed this target at their July 29, 2020 meeting. As of December 2020, the portfolio's purchase yield was 1.82 percent while 2-Year Treasury Notes were 0.12 percent. The yield differential is directly a result of increasing the portfolio's duration. For fixed income securities, the difference between amortized cost and fair value is considered an unrealized gain or loss. A realized loss is when the principal of the security is redeemed before its maturity date at a fair value lower than its amortized cost value. The amortized cost value of the externally managed investment portfolio is $67,069,733; the fair value is $69,037,531 for an unrealized gain of $1,967,798 or 2.93% of the total amortized cost value. The source of the fair value information for the U.S. Treasury Notes, the U.S. Instrumentalities, Corporate Notes, and Municipal Bonds is Interactive Data Corporation. Also included with this report are recaps of the City's cash and investments held by fiscal agents, non-managed investments, and cash on hand. The total book value of the cash and investments held by our fiscal agent, U.S. Bank, at December 31, 2020, was $1,245,351. The source of the market value information for these investments was U.S. Bank. The total book value of the non-managed investments was $62,545 at December 31, 2020. The City's cash on hand at December 31, 2020, totaled $1,835,524. The December 31, 2020 balance of the City's Library Trust Fund was $258,715. Through the Fiscal Year 2020-21 period ending December 31, 2020, no transfer of interest earnings has been made to the General Fund. At the close of Fiscal Year 2020-21, 90% of the Library Trust Fund's interest earnings will be transferred to the General Fund to partially offset library operating expenses. 2 of29 February 2, 2021, Item #6Environmental Review: This action is not subject to review under the California Environmental Quality Act (CEQA). Fiscal Impact: The externally managed investment portfolio earned $139,897 interest during December 2020, as well as $133,808 interest during November 2020, and $139,253 during October 2020. Fees for investment services during this period totaled $8,847. Public Notification: None. Attachments: A. Investment Statistics B. Investment Portfolio Report prepared by Insight Investment C. Investment Report Prepared by Insight Investment D. City of Poway Investments and Cash with Fiscal Agent; General, Payroll, and Petty Cash Report at December 31, 2020 Reviewed/ Approved By: win~ aserman Assistant City Manager 3 of29 Reviewed By: Alan Fenstermacher City Attorney Approved By: Ch~ City Manager February 2, 2021, Item #6City of Poway Investment Statistics Separately Managed Investment Pools Fair Value: CalTRUST Short-Term Deposits CalTRUST Medium-Term Deposits Deposits at the Local Agency Investment Fund (LAIF) Total Fair Value Weighted Average Yield Effective Average Duration in days Weighted Average Maturity in days Externally Managed Investment Pools Fair Value: U. S. Treasury Notes U. S. Instrumentalities Corporate Bonds Total Fair Value Amortized Cost Value: U. S. Treasury Notes U. S. Instrumentalities Corporate Bonds Total Amortized Cost Value Unrealized Gain (Loss) Accrued Interest Earned Weighted Average Yield Effective Average Duration in years Weighted Average Maturity in years Total Fair Value of Portfolio Assets Weighted Average Yield Effective Average Duration in years Weighted Average Maturity in years Glossary of Yield Terminology December September 2019 2020 11,271,671 11,434,570 11,427,085 11,798,998 4,593,072 21,774,271 27,291,828 45,007,839 1.99% 0.79% 1 1 1 1 13,993,384 10,841,160 43,318,054 38,487,404 21,675,308 21,765,412 78,986,746 71,093,976 13,927,787 10,425,075 43,100,214 37,468,630 21,587,993 21,066,088 78,615,994 68,959,793 370,752 2,134,183 151,068 135,086 2.02% 1.94% 1.91 1.96 2.02 2.07 106,278,574 116,101,815 2.01% 1.49% 1.47 1.20 1.55 1.27 Coupon: A bond's coupon is the periodic interest payment made to the holder of the fixed income security during the life of the bond. Coupon payments can be made monthly, quarterly, or annually. Book Yield: The Book Yield is that rate of return that will make the present value of the future cash flows of a fixed income security equal to the price paid for the security. This assumes that the security will be held to its maturity. Current Yield: Annual rate of return on an investment expressed as a percentage. Current Yield of a fixed income security is the annualized earnings (coupon) divided by the bond's market value as of the valuation date. One Year Total Yield: The One Year Total Yield or One Year Return represents the portfolio's percentage change over a year's time, factoring in interest payments, changes in market value and reinvestment of distributions. December 2020 11,451,341 11,811,550 12,421,930 35,684,821 0.57% 1 1 10,793,820 36,309,513 21,934,198 69,037,531 10,423,137 35,433,831 21,212,765 67,069,733 1,967,798 139,897 1.82% 1.93 2.11 104,722,352 1.40% 1.27 1.39 Weighted Average Yield: The total yield on a bond portfolio divided by the number of bonds contained in it, weighted for the size of each bond so that the yield of large holdings does not drown out the calculation of yields on small holdings. Yield to Maturity: The Yield to Maturity (YTM) or Market Yield to Maturity of a fixed income security is that rate of interest that will make the present value of the future cash flows equal to the market value as of the valuation date, assuming the bond is held to maturity. 4 of 29 ATTACHMENT A February 2, 2021, Item #6City of Poway Monthly Investment Portfolio Report December 31, 2020 Separately Managed Investment Pools % Return LAIF $ 12,421,930 35% 0.54% CalTrust -Short $ 11,451,341 32% 0.49% CalTrust -Medium $ 11,811,550 33% 0.69% Total Internally Managed $ 35,684,821 34% Weighted Average Yield 0.57% Days Effective Average Duration -Internal 1 Weighted Average Maturity -Internal 1 Externally Managed Assets % Return Treasury Securities $ 10,793,820 16% 1.91% Instrumentality Securities $ 36,309,513 53% 1.82% Corporate Notes $ 21,934,198 32% 1.79% Total Externally Managed $ 69,037,531 66% Weighted Average Yield 1.82% Years Effective Average Duration -External 1.93 Weighted Average Final Maturity -External 2.11 Total Portfolio Assets % Return LAIF $ CalTrust -Short $ CalTrust -Medium $ Treasury Securities $ Instrumentality Securities $ Corporate Notes $ Total Portfolio Assets $ Weighted Average Yield Effective Average Duration -Total Weighted Average Maturity -Total Portfolio Change Beginning Balance Ending Balance Assets values shown at Market 5 of 29 12,421,930 12% 0.54% 11,451,341 11% 0.49% 11,811,550 11% 0.69% 10,793,820 10% 1.91% 36,309,513 35% 1.82% 21,934,198 21% 1.79% 104,722,352 1.40% Years 1.27 1.39 $ $ CalTrust -Medium, 33% Corporate Notes 24% Instrumentality Securities 39% 109,653,732 104,722,352 ATTACHMENT B 32% LAIF, 35% Treasury Instrumentality Securities, 53% CalTrust -Short CalTrust -12% Medium Treasury Securities 12% February 2, 2021, Item #6ATTACHMENT C February 2, 2021, Item #6...... Contents 0 -ti N U) Fixed income market review 3 Activity and performance summary 4 Recap of securities held 6 Maturity distribution of securities held 7 Securities held 8 GASB 40-Deposit and investment risk disclosure 13 Securities sold and matured 17 Detail of return and interest received 18 Transaction report 21 Additional information 22 February 2, 2021, Item #6FIXED INCOME MARKET REVIEW As of December 31, 2020 00 0 .... N \D Chart 1: ISM indices remain in expansionary territory but soften ~ 65 60 55 ~ -t.5 iO -- Dec-1-t Dec-15 Dec-16 Dec-!-; Dec-16 Dec-19 ---~fanufacturing ---Xon-manufacturing -----Xeutral le,·d Source: Bloomberg Finance LP, December 31, 2020. Chart 2: Retail sales move into contractionary territory 20 15 ,. 10 5 • 0 ~~--A--~J\b--v--\,- -5 • -10 -1.5 . -20 Dec-1-t Dec-t5 Dec-16 Dec-1-: Dec-16 --Retail sales (%) Source: Bloomberg Finance LP, December 31, 2020. Dec-19 CITY OF POWAY Economic Indicators and Monetary Policy Congress passed a $2.3trn omnibus spending package including a $900bn COVID- relief package providing $325bn for small businesses and $286bn for individuals which is split between enhanced unemployment benefits (of $300 per week) and $600 stimulus checks. President Trump signed the package into law with formal rescissions, but reportedly the House did not plan to bring them to a vote, outside of increasing stimulus checks to $2,000 (although a Republican-controlled Senate is unlikely to pass it). Pfizer and Moderna's COVID-19 vaccines showed high efficacy levels in Phase 3 trials and both were granted 'emergency use authorizations' by the FDA. COVID-19 hospitalizations continued to rise and the consumer confidence index fell 4.3pts, to 88.6. The Federal Reserve confirmed asset purchases will continue at a rate of at least $120bn per month, until there is "substantial further progress" on employment and inflation. The Fed's quarterly economic forecasts were marginally improved, with unemployment expected to fall to 5% next year (compared to the previous estimate of 5.5%) and GDP forecast at 4.2% next year, indicating the economy will recover beyond pre-pandemic levels in 2021. Data-wise, job growth was weaker than expected in November at 245,000 as seasonal retail hiring was less positive than expected. The unemployment rate fell to 6.7% from 6. 9% as the participation rate fell 0.2 percentage points to 61 .5%. Retail sales decreased 1. 1 %, with declines broad-based across categories. The ISM Manufacturing index eased somewhat in November to 57.5 from 59.1, reflecting supply challenges, but remained in expansionary territory. The ISM Services index fell to 55.9 in November, closely in line with consensus expectations. The housing market remained a bright-spot with housing starts rising more than expected (1.2% -essentially to pre- pandemic levels) in November and the October data was revised higher. Interest Rate Summary Treasury yields did not change materially over the month. At the end of December, the 3-month US Treasury bill yielded 0.09%, the 6-month US Treasury bill yielded 0.09%, the 2-year US Treasury note yielded 0.12%, the 5-year US Treasury note yielded 0.36% and the 10-year US Treasury note yielded 0. 92%. 3 February 2, 2021, Item #6ACTIVITY AND PERFORMANCE SUMMARY For the period December 1, 2020 -December 31, 2020 \0 0 .... N \0 Amortized Cost Basis Activity Summary Openln1 balance Income received Total receipts Total disbursements lnterportfolio transfers Total lnterportfollo transfers Realized gain (loss) Change in accruals from security movement Total amortization expense Total 01D/MKT accretion Income Return of capital Closln1 balance Endln1 fair value Unrealized gain (loss) 201,030.00 (2,201 ,Q30.00) Comparative Rates of Return(%) *Twelve * Six month trailing month trailing Fed Funds Overnight Repo Merrill Lynch 3m US Treas Bill Merrill Lynch 6m US Treas Bill ML 1 Year US Treasury Note ML 2 Year US Treasury Note ML 5 Year US Treasury Note * rates reflected are cumulative 0.37 0.39 0.33 0.33 0.38 0.39 0.54 0.05 0.05 0.04 0.05 0.06 O.D7 0.16 69,103,272.87 201,030.00 0.00 (2,201,030.00) 0.00 0.00 (36,449.90) 2,910.60 0.00 67,069,733.57 69,037,531 .36 1,967,797.79 * One month 0.01 0.01 0.01 0.01 0.01 0.01 0.03 Qetail of Amortized Cost Basis Return Interest Accretion Realized earned (amortization) gain (loss) Corporate Bonds 54,577.36 (21,725.39) 0.00 Government Agencies 67,653.26 (11,160.88) 0.00 Government Bonds 17,665.98 (653.03) 0.00 Total 139,896.60 (33,539.30) 0.00 Summary of Amortized Cost Basis Return for the Period Interest earned Accretion (amortization) Realized gain (loss) on sales Total income on portfolio Average daily amortized cost Period return{%) YTD return (%) Weighted average final maturity in days CITY OF POWAY Total income 32,851 .97 56,492.38 17,012.95 106,357.30 Total portfolio 139,896.60 (33,539.30) 0.00 106,357.30 67,409,357.27 0.16 1.92 769 4 February 2, 2021, Item #6ACTIVITY AND PERFORMANCE SUMMARY For the period December 1, 2020 -December 31, 2020 ...a. 0 ~ I Fair Value Basis Activity Summary \0 Opening balance 71,080,524.48 Income received Total receipts Total disbursements lnterportfolio transfers Total lnterportfollo transfers Unrealized gain (loss) on security movements Change in accruals from security movement Return of capital Change in fair value for the period Ending fair value 201,030.00 (2,201,030.00) CQmparative Rates Qf Return{%} *Twelve * Six month trailing month trailing Fed Funds 0.37 0.05 Overnight Repo 0.39 0.05 ICE Sofa 3 Months UST-BILL 0.67 O.Dl ICE Sofa 6m US Treas Bill 1.05 0.11 ICE Sofa 1 Yr US Treasury Note 1.82 0.13 ICE BofA US Treasury 1-3 3.10 0.15 ICE Bof A US Treasury 1-5 4.25 0.14 * rates reflected are cumulative 201,030.00 0.00 (2,201 ,030.00) 0.00 0.00 0.00 (42,993.12) 69,037,531.36 * One month 0.01 0.01 0.01 0.02 0.00 0.05 0.07 Detail Qf Fair Value Basis Return Interest Change in earned fair value Corporate Bonds 54,577.36 4,711.46 Government Agencies 67,653.26 (36,825.69) Government Bonds 17,665.98 (10,878.89) Total 139,896.60 (42,993.12) Summary Qf Fair Value Basis Return for the PeriQd Interest earned Change in fair value Total income on portfolio Average daily total value* Period return (%) YTD return (%) Weighted average final maturity in days * Total value equals market value and accrued interest CITY OF POWAY Total income 59,288.82 30,827.57 6,787.09 96,903.48 Total portfolio 139,896.60 (42,993.12) 96,903.48 69,788,526.87 0.14 3.88 769 5 February 2, 2021, Item #6RECAP OF SECURITIES HELD As of December 3 1, 2020 --0 .... N '° Corporate Bonds Government Agencies Government Bonds Historical cost 21,414,97 1.00 35,613,408.96 10,433,632.28 Amortized cost Fair value 21,212,764.84 21,934,198.16 35,433,83 1.78 36,309,512.86 10,423,136.95 10,793,820.34 Unrealized gain (loss) 721,433.32 875,681.08 370,683.39 Weighted Percent average of final portfolio maturity (days) 990 628 798 31.74 52.79 15.47 Portfolio divers ification (%) ■ Corporate Bonds Government Agencies ■ Government Bonds Total 31.7.c:1 52.79 15.47 100.00 We.ighted average effective duration (years) 2.37 1.61 2.1 4 CITY OF POWAY 6 February 2, 2021, Item #6MATURITY DISTRIBUTION OF SECURITIES HELD As of December 31 , 2020 ...a. N 0 .... N \D Maturity Under 90 days 90 to 1 79 days 180 days to 1 year 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years Over 5 years e ..§. ..... Ill 0 u iii u .§ ..... Ill :f 30.00 25.00 20.00 15.00 10.00 5.00 0.00 'l::>'l>~ ~~ rt;. ,f~· ~,o 'l::)'l>~ ~~ "Cb~ Maturity distribution ,J "~ ,o 'l::>tfi',C:, rt>~ ~0 'l, ..._,o rbe:, ~0 ~ 'l,,o rbe:, t;,.~0 ~,o Historic cost Percent 999,265.00 1.48 4,007,490.00 5.94 7,377,918.64 10.94 14,063,849.40 20.85 29,860,547.57 44.26 11,152,941 .63 16.53 0.00 0.00 0.00 0.00 67,462,012.24 100.00 rbe:, 'o~0 t;,. ,o rbe:, <t:,~0 ,It 0~ CITY OF POWAY 7 February 2, 2021, Item #6SECURITIES HELD CITY OF POWAY As of December 31, 2020 ..a. w 2_ Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % N Call date shares gain accrued Port \0 (loss) interest cost Corporate Bonds 68389XBBO ORACLE CORP 2.5% 15MAY2022 (CALLABLE 15MAR22) 2.500 05/15/2022 1,500,000.00 1,542,555.00 1,527,262.78 1,540, 103.39 12,840.61 4,791.67 2.29 03/15/2022 89233P7F7 TOYOTA MOTOR CREDIT CORP 2.625% 1 OJAN2023 2.625 01/10/2023 2,000,000.00 2,001,380.00 2,000,766.08 2,094,829.92 94,063.84 24,937.50 2.97 084670BR8 BERKSHIRE HATHAWAY INC 2.75% 15MAR2023 2. 750 03/15/2023 1,000,000.00 1,021,370.00 1,012,495.58 1,050,161 .62 37,666.04 8,097.22 1.51 (CALLABLE 15JAN23) 01/15/2023 931142DH3 WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) 2.550 04/11/2023 1,000,000.00 1,015,270.00 1,008,908.52 1,047,623.85 38,715.33 5,666.67 1.50 01/11/2023 037833AK6 APPLE INC 2.4% 03MAY2023 2.400 05/03/2023 1,000,000.00 1,007,920.00 1,004,927.35 1,048,963.93 44,036.58 3,866.67 1.49 166764BK5 CHEVRON CORP 2.566% 16MAY2023 (CALLABLE 2.566 05/1 6/2023 1,500,000.00 1,552,215.00 1,537,819.05 1,575,429.41 37,610.36 4,811.25 2.30 16MAR23) 03/16/2023 69353RFL7 PNC BANK NA 3.5% 08JUN2023 (CALLABLE 09MAY23) 3.500 06/08/2023 1,900,000.00 1,995,436.00 1,960,174.12 2,039,679.18 79,505.06 4,248.61 2.96 05/09/2023 94988J5R4 WELLS FARGO BANK NA 3.55% 14AUG2023 (CALLABLE 3.550 08/14/2023 1,000,000.00 1,050,350.00 1,034,139.39 1,080,010.00 45,870.61 13,509.72 1.56 14JUL23) 07/14/2023 68389XBL8 ORACLE CORP 2.4% 15SEP2023 (CALLABLE 15JUL23) 2.400 09/15/2023 1,000,000.00 1,008,750.00 1,005,506.36 1,051,497.87 45,991.51 7,066.67 1.50 07/15/2023 17325FAS7 CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) 3.650 01/23/2024 1,400,000.00 1,484,224.00 1,463,419.19 1,530,397.69 66,978.50 22,427.22 2.20 12/23/2023 91159HHV5 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) 3.375 02/05/2024 1,900,000.00 1,999,636.00 1,970,243.70 2,068,402.95 98,159.25 26,006.25 2.96 01/05/2024 17275RAN2 CISCO SYSTEMS INC 3.625% 04MAR2024 3.625 03/04/2024 1,000,000.00 1,070,370.00 1,053,812.35 1,099,452.17 45,639.82 11,781.25 1.59 8 February 2, 2021, Item #6SECURITIES HELD CITY OF POWAY As of December 31, 2020 .... ~ g_ Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % N Call date shares gain accrued Port \0 (loss) interest cost Corporate Bonds 06051 GHF9 BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 3.550 03/05/2024 1,350,000.00 1,445,445.00 1,428,867.71 1,442,191.03 13,323.32 15,442.50 2.14 05MAR23) 03/05/2023 02665WCZ2 AMERICAN HONDA FINANCE 2.4% 27JUN2024 2.400 06/27/2024 1,000,000.00 1,012,410.00 1,009,529.24 1,062, 198.39 52,669.15 133.33 1.50 46647PAY2 JPMORGAN CHASE & CO 4.023% 05DEC2024 (CALLABLE 4.023 12/05/2024 2,000,000.00 2,207,640.00 2,194,893.42 2,203,256.76 8,363.34 5,811 .00 3.27 05DEC23) 12/05/2023 . - - Total Corporate Bonds 20,sso,000.00 21,414,971.00 21,212,764.84 21,934,198.16 721,43332 158,597.53 31.74 Government Agencies 3133EKAJ5 FEDERAL FARM CREDIT BANK 2.5% 11 FEB2021 2.500 02/11/2021 1,000,000.00 999,265.00 999,958.03 1,002,616.91 2,658.88 9,722.22 1.48 3133EJJD2 FEDERAL FARM CREDIT BANK 2.54% 05APR2021 2.540 04/05/2021 1,000,000.00 1,004,390.00 1,000,571.30 1,006,358.65 5,787.35 6,067.78 1.49 313379RB7 FEDERAL HOME LOAN BANK 1.875% 11 JUN2021 1.875 06/11/2021 1,000,000.00 985,600.00 997,193.22 1,007,523.75 10,330.53 1,041.67 1.46 3135G0U35 FANNIE MAE 2.75% 22JUN2021 2.750 06/22/2021 2,000,000.00 2,017,500.00 2,003,753.12 2,024,798.40 21,045.28 1,375.00 2.99 3133EKCB0 FEDERAL FARM CREDIT BANK 2.5% 01 JUL2021 2.500 07/01/2021 1,000,000.00 999,030.00 999,792.22 1,011,997.85 12,205.63 12,500.00 1.48 3137EAEC9 FREDDIE MAC 1.125% 12AUG2021 1.125 08/12/2021 1,000,000.00 991,273.00 996,716.28 1,006,139.09 9,422.81 4,343.75 1.47 3135G0Q89 FANNIE MAE 1.375% 07OCT2021 1.375 10/07/2021 1,900,000.00 1,890,631.10 1,895,976.46 1,918,128.28 22,151.82 6,095.83 2.80 3130AABG2 FEDERAL HOME LOAN BANK 1.875% 29NOV2021 1.875 11/29/2021 1,000,000.00 990,090.00 996,621 .36 1,015,959.81 19,338.45 1,666.67 1.47 9 February 2, 2021, Item #6SECURITIES HELD CITY OF POWAY As of December 31, 2020 ... u, g_ Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % N Call date shares gain accrued Port \D (loss) interest cost Government Agencies 3135G0U92 FANNIE MAE 2.625% 11JAN2022 2.625 01/11/2022 1,500,000.00 1,513,185.00 1,505,046.11 1,538,435.13 33,389.02 18,593.75 2.24 3137EADB2 FREDDIE MAC 2.375% 13JAN2022 2.375 01/13/2022 1,000,000.00 1,018,089.00 1,008,198.30 1,023,120.00 14,921.70 11,083.33 1.51 313378CR0 FEDERAL HOME LOAN BANK 2.25% 11 MAR2022 2.250 03/11/2022 2,000,000.00 2,004,000.00 2,001,708.62 2,050,648.10 48,939.48 13,750.00 2.97 3135G0V59 FANNIE MAE 2.25% 12APR2022 2.250 04/12/2022 2,900,000.00 2,943,346.30 2,924,815.35 2,980,996.10 56,180.75 14,318.75 4.36 3133EA5E4 FEDERAL FARM CREDIT BANK 1.93% 18OCT2022 1.930 10/18/2022 2,000,000.00 2,015,820.00 2,010,251 .36 2,058,203.80 47,952.44 7,827.22 2.99 31331 K3A6 FEDERAL FARM CREDIT BANK 2.71 % 13DEC2022 2.710 12/13/2022 1,000,000.00 1,028,921 .06 1,016,356.80 1,049,380.19 33,023.39 1,355.00 1.53 31331KAF7 FEDERAL FARM CREDIT BANK 4.09% 18JAN2023 4.090 01/18/2023 1,850,000.00 2,008,452.50 1,945,693.90 1,997,697.69 52,003.79 34,259.43 2.98 3133EKKT2 FEDERAL FARM CREDIT BANK 2.25% 08FEB2023 2.250 02/08/2023 1,000,000.00 1,017,480.00 1,010,122.11 1,043,380.55 33,258.44 8,937.50 1.51 3133EJFK0 FEDERAL FARM CREDIT BANK 2.65% 08MAR2023 2.650 03/08/2023 1,000,000.00 1,032,790.00 1,021,213.89 1,053,689.13 32,475.24 8,318.06 1.53 3137EAEN5 FREDDIE MAC 2.75% 19JUN2023 2.750 06/19/2023 2,000,000.00 2,067,740.00 2,042,679.56 2, 126,342.52 83,662.96 1,833.33 3.07 3135G0U43 FANNIE MAE 2.875% 12SEP2023 2.875 09/12/2023 1,000,000.00 1,039,050.00 1,025,270.71 1,071,504.12 46,233.41 8,704.86 1.54 3133EKVB9 FEDERAL FARM CREDIT BANK 1 .86% 17OCT2023 1.860 10/17/2023 2,000,000.00 1,997,646.00 1,998,449.65 2,090,135.84 91 ,686.19 7,646.67 2.96 10 February 2, 2021, Item #6SECURITIES HELD CITY OF POWAY As of December 31, 2020 ~ O"I g. Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % N Call date shares gain accrued Port \0 (loss) interest cost Government Agencies 3130A3VC5 FEDERAL HOME LOAN BANK 2.25% 08DEC2023 2.250 12/08/2023 1,000,000.00 1,014,600.00 1,009,838.73 1,060,297.33 50,458.60 1,437.50 1.50 3135G0V34 FANNIE MAE 2.5% 05FEB2024 2.500 02/05/2024 1,000,000.00 1,028,090.00 1,019,203.16 1,071,063.80 51,860.64 10,138.89 1.52 3133EMBE1 FEDERAL FARM CREDIT BANK 0.3% 28MAR2024 0.300 03/28/2024 2,000,000.00 1,998,500.00 1,998,607.31 1,995,272.36 (3,334.95) 1,550.00 2.96 (CALLABLE 13JAN21) 3135G0V75 FANNIE MAE 1.75% 02JUL2024 1.750 07/02/2024 2,000,000.00 2,007,920.00 2,005,794.23 2,105,823.46 100,029.23 17,402.78 2.98 Total Government Agencies 35, 150,000.00 35,613,408.96 35,433,831.78 36,309,512.86 875,681.08 209,969.99 52.79 Government Bonds 912828F21 USA TREASURY 2.125% 30SEP2021 2.125 09/30/2021 1,000,000.00 991,015.63 997,407.26 1,014,921 .88 17,514.62 5,370.88 1.47 9128285F3 USA TREASURY 2.875% 15OCT2021 2.875 10/15/2021 1,500,000.00 1,515,878.91 1,504,803.70 1,532,285.16 27,481.46 9,122.60 2.25 912828XW5 USA TREASURY 1.75% 30JUN2022 1.750 06/30/2022 1,000,000.00 998,515.63 999,271 .82 1,024,335.94 25,064.12 0.00 1.48 912828L57 USA TREASURY 1.75% 30SEP2022 1 . 750 09/30/2022 1,000,000.00 999,417.41 999,686.86 1,028,242.19 28,555.33 4,423.08 1.48 9128282D1 USA TREASURY 1.375% 31 AUG2023 1 .375 08/31/2023 2,000,000.00 1,967,109.38 1,978,721.69 2,065,312.50 86,590.81 9,267.96 2.92 912828U57 USA TREASURY 2.125% 30NOV2023 2.125 11/30/2023 1,900,000.00 1,925,679.69 1,917,130.53 2,008,878.91 91,748.38 3,438.53 2.85 11 February 2, 2021, Item #6...a. ...... SECURITIES HELD As of December 31, 2020 2_ Cusip N Description \0 Government Bonds 912828X70 USA TREASURY 2% 30APR2024 Total Government Bonds Coupon Maturity/ Call date 2.000 04/30/2024 Par value or Historical cost Amortized cost shares 2,000,000.00 2,036,015.63 2,026,115.09 10,400,000.00 10,433,632.28 10,423,136.95 CITY OF POWAY Fair value Unrealized Total % gain accrued Port (loss) interest cost 2,119,843.76 93,728.67 6,740.33 3.02 -10,793,820.34 370,68339 38,363.38 15.47 12 February 2, 2021, Item #6GASB 40 -DEPOSIT AND INVESTMENT RISK DISCLOSURE CITY OF POWAY As of December 31, 2020 ..a. 00 a Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective N date rating rating shares cost hist cost value mkt value dur (yrs) \0 Federal Farm Credit Banks Funding Corp 3133EKAJ5 FEDERAL FARM CREDIT 2.500 02/11/2021 AA+ Aaa 1,000,000.00 999,265.00 1.48 1,002,616.91 1.45 0.11 3133EJJD2 FEDERAL FARM CREDIT 2.540 04/05/2021 AA+ Aaa 1,000,000.00 1,004,390.00 1.49 1,006,358.65 1.46 0.26 3133EKCB0 FEDERAL FARM CREDIT 2.500 07/01/2021 AA+ Aaa 1,000,000.00 999,030.00 1.48 1,011,997.85 1.47 0.49 3133EA5E4 FEDERAL FARM CREDIT 1.930 10/18/2022 AA+ Aaa 2,000,000.00 2,015,820.00 2.99 2,058,203.80 2.98 1.77 31331 K3A6 FEDERAL FARM CREDIT 2.710 12/13/2022 AA+ Aaa 1,000,000.00 1,028,921.06 1.53 1,049,380.19 1.52 1.91 31331 KAF7 FEDERAL FARM CREDIT 4.090 01/18/2023 AA+ Aaa 1,850,000.00 2,008,452.50 2.98 1,997,697.69 2.89 1.95 3133EKKT2 FEDERAL FARM CREDIT 2.250 02/08/2023 AA+ Aaa 1,000,000.00 1,017,480.00 1.51 1,043,380.55 1.51 2.05 3133EJFK0 FEDERAL FARM CREDIT 2.650 03/08/2023 AA+ Aaa 1,000,000.00 1,032,790.00 1.53 1,053,689.13 1.53 2.12 3133EKVB9 FEDERAL FARM CREDIT 1.860 10/17/2023 AA+ Aaa 2,000,000.00 1,997,646.00 2.96 2,090, 135.84 3.03 2.72 3133EMBE1 FEDERAL FARM CREDIT 0.300 03/28/2024 AA+ Aaa 2,000,000.00 1,998,500.00 2.96 1,995,272.36 2.89 1.95 Issuer total 13,850,000.00 14, 102,294.56 20.90 14,308,732.97 20.73 1.70 Federal National Mortgage Association 3135G0U35 FANNIE MAE 2.75% 2.750 06/22/2021 AA+ Aaa 2,000,000.00 2,017,500.00 2.99 2,024,798.40 2.93 0.47 3135G0Q89 FANNIE MAE 1.375% 1.375 10/07/2021 AA+ Aaa 1,900,000.00 1,890,631.10 2.80 1,918,128.28 2.78 0.76 3135G0U92 FANNIE MAE 2.625% 2.625 01/11/2022 AA+ Aaa 1,500,000.00 1,513,185.00 2.24 1,538,435.13 2.23 1.01 3135G0V59 FANNIE MAE 2.25% 2.250 04/12/2022 AA+ Aaa 2,900,000.00 2,943,346.30 4.36 2,980,996.10 4.32 1.26 3135G0U43 FANNIE MAE 2.875% 2.875 09/12/2023 AA+ Aaa 1,000,000.00 1,039,050.00 1.54 1,071,504.12 1.55 2.59 3135G0V34 FANNIE MAE 2.5% 2.500 02/05/2024 AA+ Aaa 1,000,000.00 1,028,090.00 1.52 1,071,063.80 1.55 2.97 3135G0V75 FANNIE MAE 1.75% 1.750 07/02/2024 AA+ Aaa 2,000,000.00 2,007,920.00 2.98 2,105,823.46 3.05 3.38 Issuer total 12,300,000.00 12,439,722.40 18.44 12,710,749.29 18.41 1.62 United States Treasury Note/Bond 912828F21 USA TREASURY 2.125% 2.125 09/30/2021 AA+ Aaa 1,000,000.00 991,015.63 1.47 1,014,921.88 1.47 0.74 9128285F3 USA TREASURY 2.875% 2.875 10/15/2021 AA+ Aaa 1,500,000.00 1,515,878.91 2.25 1,532,285.16 2.22 0.78 912828XW5 USA TREASURY 1.75% 1.750 06/30/2022 AA+ Aaa 1,000,000.00 998,515.63 1.48 1,024,335.94 1.48 1.48 13 February 2, 2021, Item #6GASB 40 -DEPOSIT AND INVESTMENT RISK DISCLOSURE CITY OF POWAY As of December 31, 2020 -\0 ~ Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective N date rating rating shares cost hist cost value mkt value dur (yrs) \0 United States Treasury Note/Bond 912828L57 USA TREASURY 1.75% 1.750 09/30/2022 AA+ Aaa 1,000,000.00 999,417.41 1.48 1,028,242.19 1.49 1.72 9128282D1 USA TREASURY 1.375% 1.375 08/31/2023 AA+ Aaa 2,000,000.00 1,967,109.38 2.92 2,065,312.50 2.99 2.61 912828U57 USA TREASURY 2.125% 2.125 11/30/2023 AA+ Aaa 1,900,000.00 1,925,679.69 2.85 2,008,878.91 2.91 2.84 912828X70 USA TREASURY 2% 2.000 04/30/2024 AA+ Aaa 2,000,000.00 2,036,015.63 3.02 2,119,843.76 3.07 3.23 Issuer total 10,400,000.00 10,433,632.28 15.47 10,793,820.34 15.63 2.14 Federal Home Loan Banks 313379RB7 FEDERAL HOME LOAN 1.875 06/11/2021 AA+ Aaa 1,000,000.00 985,600.00 1.46 1,007,523.75 1.46 0.44 3130AABG2 FEDERAL HOME LOAN 1.875 11/29/2021 AA+ Aaa 1,000,000.00 990,090.00 1.47 1,015,959.81 1.47 0.91 313378CRO FEDERAL HOME LOAN 2.250 03/11/2022 AA+ Aaa 2,000,000.00 2,004,000.00 2.97 2,050,648.10 2.97 1.17 3130A3VC5 FEDERAL HOME LOAN 2.250 12/08/2023 AA+ Aaa 1,000,000.00 1,014,600.00 1.50 1,060,297.33 1.54 2.85 Issuer total 5,000,000.00 4,994,290.00 7.40 5,134,428.99 7.44 1.32 Federal Home Loan Mortgage Corp 3137EAEC9 FREDDIE MAC 1.125% 1.125 08/12/2021 AA+ Aaa 1,000,000.00 991,273.00 1.47 1,006,139.09 1.46 0.61 3137EADB2 FREDDIE MAC 2.375% 2.375 01/13/2022 AA+ Aaa 1,000,000.00 1,018,089.00 1.51 1,023,120.00 1.48 1.02 3137EAEN5 FREDDIE MAC 2.75% 2.750 06/19/2023 AA+ Aaa 2,000,000.00 2,067,740.00 3.07 2, 126,342.52 3.08 2.40 Issuer total 4,000,000.00 4,077 I 102.00 6.04 4,155,601.61 6.02 1.62 Oracle Corp 68389XBBO ORACLE CORP 2.5% 2.500 05/15/2022 03/15/2022 A A3 1,500,000.00 1,542,555.00 2.29 1,540,103.39 2.23 1.19 68389XBL8 ORACLE CORP 2.4% 2.400 09/15/2023 07/15/2023 A A3 1,000,000.00 1,008,750.00 1.50 1,051,497.87 1.52 2.47 Issuer total 2,500,000.00 2,551,305.00 3.78 2,591,601.26 3.75 1.70 JPMorgan Chase & Co 46647PAY2 JPMORGAN CHASE & CO 4.023 12/05/2024 12/05/2023 A-A2 2,000,000.00 2,207,640.00 3.27 2,203,256.76 3.19 2.78 Issuer total 2,000,000.00 2,207,640.00 3.27 2,203,256.76 3.19 2.78 14 February 2, 2021, Item #6GASB 40 -DEPOSIT AND INVESTMENT RISK DISCLOSURE CITY OF POWAY As of December 31, 2020 N 0 2. Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective N date \0 rating rating shares cost hist cost value mkt value dur (yrs) Toyota Motor Credit Corp 89233P7F7 TOYOTA MOTOR CREDIT 2.625 01/10/2023 A+ A1 2,000,000.00 2,001,380.00 2.97 2,094,829.92 3.03 1.96 Issuer total 2,000,000.00 2,001,380.00 2.97 2,094,829.92 3.03 1.96 US Bancorp 91159HHV5 US BANCORP 3.375% 3.375 02/05/2024 01/05/2024 A+ A1 1,900,000.00 1,999,636.00 2.96 2,068,402.95 3.00 2.86 Issuer total 1,900,000.00 1,999,636.00 2.96 2,068,402.95 3.00 2.86 PNC Bank NA 69353RFL7 PNC BANK NA 3.5% 3.500 06/08/2023 05/09/2023 A A2 1,900,000.00 1,995,436.00 2.96 2,039,679.18 2.95 2.27 Issuer total 1,900,000.00 1,995,436.00 2.96 2,039,679.18 2.95 2.27 Chevron Corp 166764BK5 CHEVRON CORP 2.566% 2.566 05/16/2023 03/16/2023 AA Aa2 1,500,000.00 1,552,215.00 2.30 1,575,429.41 2.28 2.15 Issuer total 1,500,000.00 1,552,215.00 2.30 1,575,429.41 2.28 2.15 Citibank NA 17325FA57 CITIBANK NA 3.65% 3.650 01/23/2024 12/23/2023 A+ Aa3 1,400,000.00 1,484,224.00 2.20 1,530,397.69 2.22 2.81 Issuer total 1,400,000.00 1,484,224.00 2.20 1,530,397.69 2.22 2.81 Bank of America Corp 06051 GHF9 BANK OF AMERICA CORP 3.550 03/05/2024 03/05/2023 A-A2 1,350,000.00 1,445,445.00 2.14 1,442,191 .03 2.09 2.09 Issuer total 1,350,000.00 1,445,445.00 2.14 1,442,191.03 2.09 2.09 Cisco Systems Inc 17275RAN2 CISCO SYSTEMS INC 3.625 03/04/2024 AA-A1 1,000,000.00 1,070,370.00 1.59 1,099,452.17 1.59 3.00 Issuer total 1,000,000.00 1,070,370.00 1.59 1,099,452.17 1.59 3.00 15 February 2, 2021, Item #6GASB 40 -DEPOSIT AND INVESTMENT RISK DISCLOSURE CITY OF POWAY As of December 31, 2020 N -a Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective N date rating rating shares cost hist cost value mktvalue dur (yrs) \0 Wells Fargo Bank NA 94988JSR4 WELLS FARGO BANK NA 3.550 08/14/2023 07/14/2023 A+ Aa2 1,000,000.00 1,050,350.00 1.56 1,080,010.00 1.56 2.42 Issuer total 1,000,000.00 1,050,350.00 1.56 1,080,010.00 1.56 2.42 American Honda Finance Corp 02665WCZ2 AMERICAN HONDA 2.400 06/27/2024 A-A3 1,000,000.00 1,012,410.00 1.50 1,062, 198.39 1.54 3.36 Issuer total 1,000,000.00 1,012,410.00 1.50 1,062, 198.39 1.54 3.36 Berkshire Hathaway Inc 084670BR8 BERKSHIRE HATHAWAY 2.750 03/15/2023 01/15/2023 AA Aa2 1,000,000.00 1,021,370.00 1.51 1,050,161.62 1.52 1.99 Issuer total 1,000,000.00 1,021,370.00 1.51 1,050,161.62 1.52 1.99 Apple Inc 037833AK6 APPLE INC 2.4% 2.400 05/03/2023 AA+ Aa1 1,000,000.00 1,007,920.00 1.49 1,048,963.93 1.52 2.27 Issuer total 1,000,000.00 1,007,920.00 1.49 1,048,963.93 1.52 2.27 Walmart Inc 931142DH3 WALMART INC 2.55% 2.550 04/11/2023 01/11/2023 AA Aa2 1,000,000.00 1,015,270.00 1.50 1,047,623.85 1.52 1.99 Issuer total 1,000,000.00 1,015,270.00 1.50 1,047,623.85 1.52 1.99 16 February 2, 2021, Item #6SECURITIES SOLD AND MATURED CITY OF POWAY For the period December 1, 2020 -December 31, 2020 N N ~ Cusip Description / Broker Trade date Coupon Maturity/ Par value or Historical cost Amortized cost Price Fair value at Realized Accrued N Settle date Call date shares at sale or sale or gain interest \0 maturity maturity (loss) sold Government Agencies 3133EGM51 FFCB TRANCHE 00668 1.65 12/01/2020 1.650 (1 ,000,000.00) 996,971 .00 1,000,000.00 0.00 1,000,000.00 0.00 0.00 12-01-2020 12/01/2020 3130A3UQ5 FEDERAL HOME LN BKS CONS BD DTD 12/11/2020 1.875 (1,000,000.00) 997,820.00 1,000,000.00 0.00 1,000,000.00 0.00 0.00 1.875% DUE 12-11-2020 12/11/2020 Total (Government Agencies) (2,000,000.00) 1,994,791.00 2,000,000.00 2,000,000.00 0.00 0.00 17 February 2, 2021, Item #6DETAIL OF RETURN AND INTEREST RECEIVED CITY OF POWAY For the period December 1, 2020 -December 31, 2020 N w g_ Cusip Description Accretion Realized gain Change in fair Interest earned Interest received N (amortization) (loss) value \0 Corporate Bonds 02665WCZ2 AMERICAN HONDA FINANCE 2.4% 27JUN2024 (227.43) 0.00 (1,283.64) 1,933.33 12,000.00 037833AK6 APPLE INC 2.4% 03MAY2023 (175.35) 0.00 (831.55) 2,066.67 0.00 06051GHF9 BANK OF AMERICA CORP 3.55% 05MAR2024 (CALLABLE 05MAR23) (3,014.05) 0.00 4,284.29 4,126.87 0.00 084670BR8 BERKSHIRE HATHAWAY INC 2.75% 15MAR2023 (CALLABLE 15JAN23) (510.03) 0.00 (1 ,124.82) 2,368.05 0.00 166764BK5 CHEVRON CORP 2.566% 1 6MAY2023 (CALLABLE 16MAR23) (1,425.34) 0.00 (2,310.94) 3,314.42 0.00 17275RAN2 CISCO SYSTEMS INC 3.625% 04MAR2024 (1,411.17) 0.00 (3,000.50) 3,121.53 0.00 17325FAS7 CITIBANK NA 3.65% 23JAN2024 (CALLABLE 23DEC23) (1 ,773.14) 0.00 253.69 4,400.28 0.00 46647PAY2 JPMORGAN CHASE & CO 4.023% 05DEC2024 (CALLABLE 05DEC23) (5,541 .99) 0.00 1,143.72 6,928.50 40,230.00 68389XBL8 ORACLE CORP 2.4% 15SEP2023 (CALLABLE 15JUL23) (180.54) 0.00 (410.31) 2,066.67 0.00 68389XBB0 ORACLE CORP 2.5% 15MAY2022 (CALLABLE 15MAR22) (1,880.19) 0.00 (1,942.93) 3,229.17 0.00 69353RFL7 PNC BANK NA 3.5% 08JUN2023 (CALLABLE 09MAY23) (2,126.29) 0.00 979.24 5,726.39 33,250.00 89233P7F7 TOY OT A MOTOR CREDIT CORP 2.625% 1 0JAN2023 (31.49) 0.00 2,820.64 4,520.83 0.00 91159HHV5 US BANCORP 3.375% 05FEB2024 (CALLABLE 05JAN24) (1,942.23) 0.00 8,100.92 5,521.87 0.00 931142DH3 WALMART INC 2.55% 11APR2023 (CALLABLE 11JAN23) (365.60) 0.00 273.69 2,195.84 0.00 94988J5R4 WELLS FARGO BANK NA 3.55% 14AUG2023 (CALLABLE 14JUL23) (1,120.55) 0.00 (2,240.04) 3,056.94 0.00 ----~-Total Corporate Bonds (21,725.39) 0.00 4,711.46 54,577.36 85,480.00 Government Agencies 3135G0Q89 FANNIE MAE 1.375% 07OCT2021 435.77 0.00 (2,25872) 2,249.65 0.00 3135G0V75 FANNIE MAE 1.75% 02JUL2024 (137.74) 0.00 975.22 3,013.89 0.00 3135G0V59 FANNIE MAE 2.25% 12APR2022 (1,611 .39) 0.00 (3,849 93) 5,618.75 0.00 18 February 2, 2021, Item #6DETAIL OF RETURN AND INTEREST RECEIVED CITY OF POWAY N For the period December 1, 2020 -December 31, 2020 ~ g_ Cusip Description Accretion Realized gain Change in fair Interest earned Interest received N (amortization) (loss) value ID Government Agencies 3135G0V34 FANNIE MAE 2.5% 05FEB2024 (516.67) 0.00 (362.02) 2,152.78 0.00 3135G0U92 FANNIE MAE 2.625% 11JAN2022 (393.38) 0.00 (3,054.87) 3,390.62 0.00 3135G0U35 FANNIE MAE 2.75% 22JUN2021 (654.61) 0.00 (4,67724) 4,736.11 27,500.00 3135G0U43 FANNIE MAE 2.875% 12SEP2023 (779.96) 0.00 (2,159.08) 2,475.69 0.00 3133EMBE1 FEDERAL FARM CREDIT BANK 0.3% 28MAR2024 (CALLABLE 13JAN21) 35.77 0.00 1,076.36 516.67 0.00 3133EKVB9 FEDERAL FARM CREDIT BANK 1.86% 17OCT2023 46.18 0.00 (3,551.02) 3,203.34 0.00 3133EA5E4 FEDERAL FARM CREDIT BANK 1.93% 18OCT2022 (474.60) 0.00 9,938.42 3,323.89 0.00 3133EKKT2 FEDERAL FARM CREDIT BANK 2.25% 08FEB2023 (400.61) 0.00 (1,934.37) 1,937.50 0.00 3133EKCB0 FEDERAL FARM CREDIT BANK 2.5% 01 JUL2021 34.43 0.00 (1,994.14) 2,152.78 0.00 3133EKAJ5 FEDERAL FARM CREDIT BANK 2.5% 11 FEB2021 30.71 0.00 (2,089.03) 2,152.78 0.00 3133EJJD2 FEDERAL FARM CREDIT BANK 2.54% 05APR2021 (180.41) 0.00 (1,963.66) 2,187.22 0.00 3133EJFK0 FEDERAL FARM CREDIT BANK 2.65% 08MAR2023 (807.64) 0.00 (2,280.25) 2,281.95 0.00 31331K3A6 FEDERAL FARM CREDIT BANK 2.71% 13DEC2022 (698.02) 0.00 (1,875.43) 2,333.61 13,550.00 31331KAF7 FEDERAL FARM CREDIT BANK 4.09% 18JAN2023 (3,890.00) 0.00 (6,567.00) 6,515.60 0.00 3130A3UQ5 FEDERAL HOME LN BKS CONS BD DTD 1.875% DUE 12-11-2020 21 .90 0.00 (463 68) 572.92 9,375.00 313379RB7 FEDERAL HOME LOAN BANK 1.875% 11JUN2021 523.00 0.00 (1,811.43) 1,614.59 9,375.00 3130AABG2 FEDERAL HOME LOAN BANK 1.875% 29NOV2021 308.09 0.00 (1,434.85) 1,614.59 0.00 3130A3VC5 FEDERAL HOME LOAN BANK 2.25% 08DEC2023 (278.98) 0.00 388.24 1,937.50 11,250.00 313378CR0 FEDERAL HOME LOAN BANK 2.25% 11 MAR2022 (118.93) 0.00 (1,529.86) 3,875.00 0.00 3133EGM51 FFCB TRANCHE 00668 1.65 12-01-2020 2.11 0.00 0.00 45.83 8,250.00 19 February 2, 2021, Item #6DETAIL OF RETURN AND INTEREST RECEIVED CITY OF POWAY For the period December 1, 2020 -December 31, 2020 "' u, g_ Cusip Description Accretion Realized gain Change in fair Interest earned Interest received "' \0 (amortization) (loss) value Government Agencies 3137EAEC9 FREDDIE MAC 1.125% 12AUG2021 443.74 0.00 (847.35) 968.75 0.00 3137EADB2 FREDDIE MAC 2.375% 13JAN2022 (659.38) 0.00 (2,059.64) 2,045.14 0.00 3137EAEN5 FREDDIE MAC 2.75% 19JUN2023 {1 ,440.26) 0.00 (2,440.36) 4,736.11 27,500.00 -Total Government Agencies (11, 160.88) 0.00 (36,825.69) 67,653.26 106,800.00 Government Bonds 9128282D1 USA TREASURY 1.375% 31 AUG2023 677.93 0.00 (15626) 2,354.98 0.00 912828XW5 USA TREASURY 1.75% 30JUN2022 41 .35 0.00 (1 ,132.81) 1,474.18 8,750.00 912828L57 USA TREASURY 1.75% 30SEP2022 15.21 0.00 (1,210.93) 1,490.39 0.00 912828X70 USA TREASURY 2% 30APR2024 (665.76) 0.00 (1 ,093.74) 3,425.41 0.00 912828U57 USA TREASURY 2.125% 30NOV2023 (499.10) 0.00 (1,484.38) 3,438.53 0.00 912828F21 USA TREASURY 2.125% 30SEP2021 294.41 0.00 (1 ,875.00) 1,809.75 0.00 9128285F3 USA TREASURY 2.875% 15OCT2021 (517.07) 0.00 (3,925.77) 3,672.74 0.00 ------Total Government Bonds (653.03) 0.00 (10,878.89) 17,665.98 8,750.00 20 February 2, 2021, Item #6TRANSACTION REPORT CITY OF POWAY For the period December 1, 2020 -December 31, 2020 N en g. Trade date Cusip Transaction Sec type Description Maturity Par value or Realized Principal Interest Transaction total N Settle date shares gain(loss) U) 12/01/2020 3133EGM51 Income Government Agencies FFCB TRANCHE 00668 1.65 12/01/2020 1,000,000.00 0.00 0.00 8,250.00 8,250.00 12/01/2020 12/01/2020 3133EGM51 Capital Change Government Agencies FFCB TRANCHE 00668 1.65 12/01/2020 (1,000,000.00) 0.00 1,000,000.00 0.00 1,000,000.00 12/01/2020 12/05/2020 46647PAY2 Income Corporate Bonds JPMORGAN CHASE & CO 12/05/2024 2,000,000.00 0.00 0.00 40,230.00 40,230.00 12/05/2020 12/08/2020 3130A3VC5 Income Government Agencies FEDERAL HOME LOAN BANK 12/08/2023 1,000,000.00 0.00 0.00 11,250.00 11,250.00 12/08/2020 12/08/2020 69353RFL7 Income Corporate Bonds PNC BANK NA 3.5% 08JUN2023 06/08/2023 1,900,000.00 0.00 0.00 33,250.00 33,250.00 12/08/2020 12/11/2020 3130A3UQ5 Income Government Agencies FEDERAL HOME LN BKS CONS 12/11/2020 1,000,000.00 0.00 0.00 9,375.00 9,375.00 12/11/2020 12/11/2020 3130A3UQ5 Capital Change Government Agencies FEDERAL HOME LN BKS CONS 12/11/2020 (1,000,000.00) 0.00 1,000,000.00 0.00 1,000,000.00 12/11/2020 12/11/2020 313379RB7 Income Government Agencies FEDERAL HOME LOAN BANK 06/11/2021 1,000,000.00 0.00 0.00 9,375.00 9,375.00 12/11/2020 12/13/2020 31331 K3A6 Income Government Agencies FEDERAL FARM CREDIT BANK 12/13/2022 1,000,000.00 0.00 0.00 13,550.00 13,550.00 12/13/2020 12/19/2020 3137EAEN5 Income Government Agencies FREDDIE MAC 2.75% 06/19/2023 2,000,000.00 0.00 0.00 27,500.00 27,500.00 12/19/2020 12/22/2020 3135GOU35 Income Government Agencies FANNIE MAE 2.75% 22JUN2021 06/22/2021 2,000,000.00 0.00 0.00 27,500.00 27,500.00 12/22/2020 12/29/2020 02665WCZ2 Income Corporate Bonds AMERICAN HONDA FINANCE 06/27/2024 1,000,000.00 0.00 0.00 12,000.00 12,000.00 12/29/2020 12/31/2020 912828XW5 Income Government Bonds USA TREASURY 1.75% 06/30/2022 1,000,000.00 0.00 0.00 8,750.00 8,750.00 12/31/2020 21 February 2, 2021, Item #6ADDITIONAL INFORMATION CITY OF POWAY As of December 31, 2020 N -.J Past performance is not a guide to future performance. The value of investments and any income from them will fluctuate and is not guaranteed (this may partly be due to exchange rate changes) and investors may not get g. back the amount invested. Transactions in foreign securities may be executed and settled in local markets. Performance comparisons will be affected by changes in interest rates. Investment returns fluctuate due to changes N in market conditions. Investment involves risk, including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. The information contained herein is for \D your reference only and is being provided in response to your specific request and has been obtained from sources believed to be reliable; however, no representation is made regarding its accuracy or completeness. This document must not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or otherwise not permitted. This document should not be duplicated, amended, or forwarded to a third party without consent from Insight. This is a marketing document intended for professional clients only and should not be made available to or relied upon by retail clients Investment advisory services in North America are provided through two different SEC-registered investment advisers using the brand Insight Investment: Insight North America LLC (INA) and Insight Investment International Limited (IIIL). The North American investment advisers are associated with a broader group of global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as Insight, Insight Group or Insight Investment. INA is an investment adviser registered with the Securities and Exchange Commission (SEC), under the Investment Advisers Act of 1940, as amended. Registration with the SEC does not imply a certain level of skill or training. You may request, without charge, additional information about Insight. Moreover, specific information relating to Insights strategies, including investment advisory fees, may be obtained from INA's Form ADV Part 2A, which is available without charge upon request. Where indicated, performance numbers used in the analysis are gross returns. The performance reflects the reinvestment of all dividends and income. INA charges management fees on all portfolios managed and these fees will reduce the returns on the portfolios. For example, assume that $30 million is invested in an account with INA, and this account achieves a 5.0% annual return compounded monthly, gross of fees, for a period of five years. At the end of five years that account would have grown to $38,500,760 before the deduction of management fees. Assuming management fees of 0.25% per year are deducted monthly from the account, the value at the end of the five year period would be $38,022,447. Actual fees for new accounts are dependent on size and subject to negotiation. INA 's investment advisory fees are discussed in Part 2A of its Form ADV. Unless otherwise stated, the source of information is Insight. Any forecasts or opinions are Insight's own at the date of this document (or as otherwise specified) and may change. Material in this publication is for general information only and is not advice, investment advice, or the recommendation of any purchase or sale of any security. Insight makes no implied or expressed recommendations concerning the manner in which an account should or would be handled, as appropriate investment strategies depend upon specific investment guidelines and objectives and should not be construed to be an assurance that any particular security in a strategy will remain in any fund, account, or strategy, or that a previously held security will not be repurchased. It should not be assumed that any of the security transactions or holdings referenced herein have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past investment performance of the securities listed. Please compare the information provided in this statement to the information provided in the statement received from your Custodian. For trading activity the Clearing broker will be reflected. In certain cases the Clearing broker will differ from the Executing broker. In calculating ratings distributions and weighted average portfolio quality, Insight assigns U.S Treasury and U.S agency securities a quality rating based on the methodology used within the respective benchmark index. When Moody's, S&P and Fitch rate a security, Bank of America and Merrill Lynch indexes assign a simple weighted average statistic while Barclays indexes assign the median statistic. Insight assigns all other securities the lower of Moody's and S&P ratings. Information about the indices shown here is provided to allow for comparison of the performance of the strategy to that of certain well-known and widely recognized indices. There is no representation that such index is an appropriate benchmark for such comparison. You cannot invest directly in an index and the indices represented do not take into account trading commissions and/or other brokerage or custodial costs. The volatility of the indices may be materially different from that of the strategy. In addition, the strategy's holdings may differ substantially from the securities that comprise the indices shown. The ICE BofA 3 Month UST-Bill index is an unmanaged market index of U.S. Treasury securities maturing in 90 days that assumes reinvestment of all income. The ICE Bof A 6 Month UST-Bill index measures the performance of Treasury bills with time to maturity of less than 6 months. The ICE BofA 1-Year US Treasury Index is a one-security index comprised of the most recently issued 1-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 1-year note must be auctioned on or before the third business day before the last business day of the month. The ICE BofA 3-Year US Treasury Index is a one-security index comprised of the most recently issued 3-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 3-year note must be auctioned on or before the third business day before the last business day of the month. The ICE Bof A 5-Year US Treasury Index is a one-security index comprised of the most recently issued 5-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 5-year note must be auctioned on or before the third business day before the last business day of the month. The ICE Bof A 1-3 us Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years. The ICE BofA 1-5 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than five years. 22 February 2, 2021, Item #6N 00 ADDITIONAL INFORMATION As of December 31, 2020 CITY OF POWAY g_ Insight does not provide tax or legal advice to its clients and all investors are strongly urged to consult their tax and legal advisors regarding any potential strategy or investment. N '-'> Insight is a group of wholly owned subsidiaries of The Bank of New York Mellon Corporation. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Products and services may be provided under various brand names and in various countries by subsidiaries, affiliates and joint ventures of The Bank of New York Mellon Corporation where authorized and regulated as required within each jurisdiction. Unless you are notified to the contrary, the products and services mentioned are not insured by the FDIC (or by any governmental entity) and are not guaranteed by or obligations of The Bank of New York Mellon Corporation or any of its affiliates. The Bank of New York Corporation assumes no responsibility for the accuracy or completeness of the above data and disclaims all expressed or implied warranties in connection therewith. © 2020 Insight Investment. All rights reserved. 23 February 2, 2021, Item #6N \0 0 .... N \0 ~ ~ n :c ~ m z -I C City of Poway Investments & Cash with Fiscal Agent; Non-Managed Investments; General, Payroll & Petty Cash December 2020 Investments & Cash with Fiscal ARents Settlement INVESTMENT DESCRIPTION Date 1st Am Gov't Obligations Money Mkt Fd 12/31/20 Average /Total Paying Agent or Uninvested Cash & Dils Total Investments and Cash with Fiscal Agent Non-ManaRed Investments Settlement Date INVESTMENT DESCRIPTION County Pool 12/31/20 I · Average/Total General Cash (Union Bank) Payroll Cash (Union Bank) Emergency Cash (Union Bank) Grant Cash (Union Bank) Flexible Benefits Cash (Union Bank) Petty Cash Total Cash I . Part I Yield to I Days to % of Total Maturity Maturity Investment 0.01%) 11 100.00%) I I I I 1, I I I· I 0.01%) 11 100.00%1 Part II Yield to Days to % of Total Maturity Maturity Investment 0.88%1 1 I 100.00%1 I I: I 0.88%1 N/A I 100.00%) Part Ill Face Value $1,245,351.00 $1,245,351.00 Book Value $1,245,351.00 $1,245,351.00 $0.00 $1,245,351.00 Market Value $1,245,351.00 $1,245,351.00 Unrealized Gain(Loss) so.oo I so.oo 1 Face I Book I Market I Unrealized Value Value Value Gain(Loss) $62,545.oo J s62,s4s.oo I $63, 177.oo I $632.00 1 --~I I I I $62,545.oo I s62,s4s.oo 1 $63, 177.oo 1 $632.00 1 Book Value $1,835,524.00 $20,000.00 $10,000.00 $0.00 $20,000.00 $8,600.00 $1,894,124.00 February 2, 2021, Item #7DATE: TO: FROM: CONTACT: SUBJECT: Summary: AGENDA RE PO RT City of Poway CITY COUNCIL February 2, 2021 Honorable Mayor and Members of the City Council Wendy Kaserman, Assistant City Manager/Acting Director of Community Services wk... Belinda Romero, Community Services Manager (858) 668-4592 or bromero@poway.org Carrie Sanchez, Recreation Supervisor (858) 668-4673 or csanchez@poway.org Senior Services at the Mickey Cafagna Community Center The City of Poway and the Poway Valley Senior Citizens Corporation (PVSCC), more commonly referred to as the Poway Senior Center, have enjoyed a mutually beneficial partnership for many years. Poway has been somewhat unique among other cities in San Diego County in that the City does not directly provide senior services. The Poway Senior Center, an independent 501 (c)(3) non-profit, has operated out of city facilities and provided senior services to Poway residents and residents in the surrounding area. There have been many changes for the Poway Senior Center between the move to a temporary location during construction of the new Mickey Cafagna Community Center (MCCC) and the ongoing global pandemic. Health orders aimed at preventing the spread of COVID-19, especially amongst high risk populations like seniors, forced the closure of the Poway Senior Center approximately 10 months ago. The closure has provided an opportunity for the City and PVSCC Board to re-evaluate the operating model and the delivery of senior services in Poway. After careful consideration, both City staff and the PVSCC Board agree that when the MCCC opens, the City should assume responsibility for providing senior services in Poway. More information is provided in the discussion section below. Recommended Action: This in an informational report, there is no recommended action. Discussion: As described in the summary section above, for many years the City and the Poway Senior Center 1 of 4 February 2, 2021, Item #7have partnered to offer senior services. The extended closure of the Poway Senior Center due to the global pandemic provided a unique opportunity for both organizations to revisit how senior services are provided in Poway. While Poway Senior Center staff initially continued to work after the facility closed, with no projected end date to the pandemic, no revenue being generated from bingo and no ability to offer onsite programming or the onsite nutrition program, eventually the PVSCC Board made the very difficult decision to lay off all of the remaining staff. Since that time, the City has worked with the Board and Jewish Family Service UFS) to use federal COVID relief dollars to implement a weekly drive through meal service for seniors at the Poway Senior Center and the PVSCC Board members have worked diligently to offer online programming and resource opportunities, as well as call and visit the seniors while they shelter in place and manage the administrative responsibilities associated with running a non-profit. After thoughtful consideration, PVSCC Board members approached the City about the potential for the City to provide senior services when the new community center opens. The PVSCC Board envisions maintaining its non-profit status and transitioning to a Friends of the Seniors type model where they would continue to fundraise and provide ongoing funds to the City to offset costs associated with providing senior services. Additionally, the non-profit Board would serve in some advisory capacity to the City as it develops and implements senior programming. Staff and the PVSCC are actively working on a memorandum of understanding of sorts that would outline the roles and responsibilities of each entity. Staff anticipates bringing this forward for Council approval at a future date prior to the opening of the community center. City Management and Community Services staff have discussed this transition at length. Staff is confident that with the ongoing support of the Friends of the Seniors, the City can offer senior programming at the MCCC. Community Park staff is currently in the process of researching and exploring the initial programming that would be offered. Depending upon the status of the global pandemic and its impact on the programming permitted, initial offerings may be limited. As is done successfully for much of the City's recreation programming, staff anticipates that services will largely be provided through contracts. The City will not be adding new staff to support this programming, however operating funds will be added to support the services and contracts. Below are several areas staff is addressing. Bingo The Friends of the Seniors plan to continue running bingo to raise funds for senior programming. Staff will make space available at the MCCC for this programming, though with the ongoing pandemic, there is no anticipated date at this point for when bingo can safely resume. Nutrition Program Staff is in discussions withJFS about potentially offering the lunch time nutrition program at the MCCC. JFS was awarded the County Nutrition Grant to serve Poway and surrounding areas last year. The County would have to approve the MCCC site as an additional location for meals to be served. Due to their role in providing food programs to people throughout the County during the pandemic, at this time JFS is limited in terms of the types of meals it could initially provide at the MCCC. Classes/Programs/Space for Seniors The Community Services staff works year-round to offer robust contract programming to residents. They are now actively pursuing opportunities to offer free, as well as low-cost classes for seniors. While long-term the costs of this programming is anticipated to be offset by bingo revenue contributed by the Friends of the Seniors, to fund programming in the short-term staff anticipates drawing down on what is often referred to as the City's Senior Center Endowment. Technically there 2of4 February 2, 2021, Item #7is no separate endowment. These were surplus General Fund dollars earmarked many years ago for the senior center. As staff begins to program the facility for all future uses, space and timeslots have been set aside for senior classes and programming, some of which is envisioned as simply space available for seniors to come in and potentially play games such as mahjong and socialize with each other. As has been planned for years, the MCCC is a multi-generational facility where all users can come together, interact with each other and enjoy the beautiful new facility. The City also plans to offer multi-generational programming. As indicated, there is much work to be done to plan for this transition and the grand opening of the MCCC. Staff is at a point where we want to engage instructors and organizations who previously worked with the Poway Senior Center, so both staff and the PVSCC Board think it is the appropriate time to bring forward the transition of services announcement to the City Council and share with the community the new partnership we are working on to deliver services to our senior community when we open the MCCC. Environmental Review: This action is not subject to review under the California Environmental Quality Act (CEQA) Fiscal Impact: This report is informational only, there is no fiscal impact associated with the report. Public Notification: None. Attachments: A. Letter of Support from the Poway Valley Senior Center Corporation Reviewed/ Approved By: Assistant City Manager 3 of4 Reviewed By: Alan Fenstermacher City Attorney Approved By: c~ City Manager � owa NIOR CENT January 25, 2021 Poway City Council 13325 Civic Center Dr. Poway, CA 92064 Dear Poway City Council, The Board of Directors of the Poway Valley Senior Citizens Corporation (better known as the Poway Senior Center) is in full support of the proposed changes to manage senior center services for our Poway senior community moving forward. In fact, it was our idea. The pandemic forced us to shut down the temporary Senior Center, and subsequently, lay off all of the organization's staff. The Board of Directors took this opportunity to review our budget, operations, and how the organization is run overall while the center remained close. It was concluded that it made most sense to approach the City of Poway with a new organizational structure, in which the City would use the resources already in place both on the City side, and through the Poway Senior Center. The Board of Directors of the PVSCC would provide additional funding for the services through a new fund raising and oversight branch of the entity, to be called the "Friends of the Poway Senior Center." The exact name of the organization is still to be determined. After meeting with City staff, it was clear from the start that this would be a much more collaborative and streamlined way to serve our wonderful senior community. Bottom line, it just made sense. We are very excited with where we are going with our discussions and planning with City Staff. Although we know there is still more work to be done, we are confident we will be able to work out all the details before we are able to bring the senior community back to the soon-to-be-completed MCCC. We all hope that day comes sooner, rather than later; however, we also understand the need to ensure that all of our members and community are 100% safe, before we bring them back. This will, of course, affect when and what programming will be available, as well as limit fundraising efforts, but we are confident it will only be a short time. On behalf of the entire Board, I would like to say Thank You for all your support in the past, and I am delighted you have agreed to work with us in this new capacity, moving forward. With gratitude, Cynthia Elizondo President Poway Senior Center 678-520-1662 4of4 Poway Senior Center-Poway Valley Senior Citizens Corporation -Tax ID 51-0183384 16315 Pomerado Road Poway, CA 92064 (858) 618-5545 www.powayseniorcenter.org ATTACHMENT A February 2, 2021, Item #7 1 of 1February 2, 2021, Item #8M EMQRAN DLJ M City of Poway DATE: TO: FROM: February 2, 2021 Members of the City Council Caylin Frank, Councilmember SUBJECT: Amend Poway Road Specific Plan to Allow for Thrift Stores in the Mixed-Use and Town Center Zones Summary: In 2017, the Poway Road Specific Plan was adopted to provide a long-term strategy for revitalizing public and private properties along Poway Road and for creating a town center for all community members to achieve a diverse mix of uses that contribute to a lively economic, social, and cultural center for Poway. This plan did not allow for thrift stores in all zones of the Specific Plan. In 2018, the thrift store tenants in Poway's Carriage Square West strip mall were notified their leases would not be renewed. Since learning of their lease terminations, many of these thrift stores have struggled to find an affordable place to relocate. Additionally, moving to a new location with increased rent rates would diminish the already small profits they generate from sales, resulting in a greater loss of income for the charities they serve. Many Poway residents have expressed their views that they would like thrift stores to be allowed as these stores provide a great service to low-income shoppers and the community, along with a fun experience for bargain hunters. We continue to hear from groups offering this type of business and believe the community will support their inclusion along Poway Road. Recommended Action: I ask for Councilmembers' concurrence to direct Staff to amend the Poway Road Specific Plan to allow thrift stores in the Mixed-Use and Town Center zones, subject to approval of a Conditional Use Permit Application. Attachments: None Reviewed/Approved By p I ,J I /V2i'U01/ v·-,.. ·-· · ...... _ · ·---..__ Wen~-~ Kaserman Assistant City Manager Reviewed By: Alan Fenstermacher City Attorney Approved By: chlseine City Manager