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The City Council, Successor Agency to the Redevelopment Agency, Public Financing Authority, and Housing Authority held a joint closed session to discuss a conference with legal counsel regarding one potential case of anticipated litigation. No reportable action was taken during the meeting.
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The committee meeting covered several operational and administrative topics, including updates from the City Manager and the business community. Discussions centered on the outdoor dining licensing fee, various infrastructure and maintenance projects such as the Fletcher Cove Ramp, bridge lighting replacement, and project timing, as well as the double-tracking bridge replacement. Additionally, updates were provided regarding the Chamber of Commerce, the city's 40th-anniversary planning, and the upcoming City Council work plan.
The City Council received a presentation regarding the CalPERS actuarial forecast. The discussion focused on current contribution policies, including the methodology for determining contribution rates, the impact of asset smoothing, and the management of unfunded liabilities. The Council reviewed projections for contribution rates, the effects of investment returns, and the implications of new accounting standards like GASB68. Additionally, the group explored various strategies for managing and paying down unfunded liabilities, such as using surplus funds, establishing a supplemental pension trust, and understanding the role of the Public Employees Pension Reform Act (PEPRA) in stabilizing future contribution rates.
The City Council, acting as the Redevelopment Agency and Public Financing Authority, convened for a special meeting. Key discussion topics included an informational presentation on the I-5 Interchange project improvements, approval of an artist contract for mosaic artwork, an emergency conditional use permit for bluff stabilization at Pacific Avenue properties, a conceptual design presentation for the La Colonia Park & Community Center, revisions to the Master Art Policy, an extension request for development permits, and year-end budget adjustments. Additionally, the Council accepted various public donations for city projects and discussed voluntary green building program guidelines.
Extracted from official board minutes, strategic plans, and video transcripts.
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