City of Sault Ste. Marie

The board reviewed the Treasurer's Report as of December 31, 2025, noting total market value reached $28,058,924. Key matters included the unanimous acceptance of the updated Service Credit Policy, requiring continuation of policy reviews. The board confirmed receipt of all Retiree Data Collection Forms and decided to review and approve them in July before distribution. A motion was passed to approve a monthly distribution of $5,867.09 for Nate Kaczmarek's benefit based on final numbers from GRS. Discussions also covered MAPERS Conferences, confirming the plan for at least one member to attend annually, and the process for stopping payments to a surviving spouse who passed away. Furthermore, the board discussed consulting with Michaud regarding the protocol for distributing reimbursements to unvested employees after funds are held for a specified period.

The meeting included the Treasurer's Report for November 30, 2025, detailing investment values and performance. Key discussion points from the Quarterly Investment Advisory Presentation covered market concerns such as interest rates and the business cycle, emphasizing portfolio diversification and active risk management. Specific manager performance was reviewed, noting potential elimination of GQG Partners due to portfolio overweighting in India. The Board also addressed the Asset Allocation Study percentages. Furthermore, the Board reviewed and approved the Final Average Compensation Policy and the Disability Retirement Procedure Policy. A letter of intent to retire from Nate Kaczmarek was accepted. Other actions included deciding to send a second collection letter for outstanding Data Collection Forms and congratulating a member on retirement.

The meeting began with roll call, noting one commissioner was excused due to a work conflict. Key discussions involved the submission of a grant application to the Michigan Department of Natural Resources Program for trail development and access improvements at Ashman Creek Preserve, which required a public hearing and a resolution of support from the Commission. The plan for perpetual fundraising for trail maintenance was also discussed. The Consent Agenda covered the approval of numerous previous meeting minutes, reappointment of two individuals to the Parks and Recck Advisory Board, consideration of amended uniform guidance policies, an EDC corrective action plan, a body worn camera program grant application, and various construction change orders and funding requests. Communications included an update from the Sous Staint Marie Convention and Visitors Bureau regarding their 2026 budget, marketing strategies focused on digital growth, promoting signature events like the I500 and Engineers Day, and securing major fishing tournaments expected to bring significant economic impact.

The meeting included several significant discussions. Key items involved the St. Mary's Park Lease Agreement draft, where the board unanimously approved a motion to extend the lease term from five to ten years. An overview of the Ashmun Creek Design Project was presented, seeking permission to use Seal Trust Fund money ($144,000) as matching funds to pursue a larger grant from the MI Natural Resource Trust Fund for constructing two mountain bike trails. A proposal for an outdoor pickleball court at Aune Osborn Park was discussed, focusing on site approval, funding commitments from donors, and future planning, with the vote postponed pending a written plan and drawings. The board also heard requests regarding the operating schedule and potential use of the Snow Tubing Hill by snowboarders. Finally, the board unanimously approved an 'Adopt-a-Park' initiative proposed by Jason McLeod for St. Mary's Park.

The key discussions centered on the review and recommendation for the 2026--2032 Capital Improvement Plan (CIP) and a Preliminary Planned Unit Development (PUD) Pre-Application Review for a Downtown Hotel Development. Regarding the CIP, the Commission discussed snow removal equipment, specifically the lack of a contingency plan when primary snowblowers are down, leading to unsafe snowbanks. The Commission ultimately recommended approval of the CIP amendment. For the PUD review, the developer proposed a dual-brand Marriott hotel, planned for five stories (exceeding the standard three stories/40-ft limit), requesting a height waiver via the PUD process in exchange for community benefits such as a public viewing node. Commissioners generally expressed strong support for the project, recognizing its importance to downtown activity. Staff also introduced a new Administrative Assistant and recognized an outgoing one.