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From YouTube: DEC 6, 2022 | City Council
Description
City of San José, California
City Council, December 6, 2022
Pre-meeting citizen input on Agenda via eComment at https://sanjose.granicusideas.com/meetings.
This public meeting will be held at San José City Hall and also accessible via Zoom Webinar. For information on public participation via Zoom, please refer to the linked meeting agenda below.
Agenda: https://sanjose.legistar.com/View.ashx?M=A&ID=999879&GUID=10AD3601-9326-47C6-92DC-E1204BF46735
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C
C
Right
Tony,
this
is
Vincent.
How
should
I
change
my
channel
normally
I
go
right
into
the
Spanish
Channel.
D
D
Okay
Vincent:
can
you
try
that
again?
Okay,
we're
not
hearing
him
so
I
think
we're
good.
E
All
right,
good
morning
morning,
we're
calling
me
into
order
for
the
morning
of
December
6
2022.
Tony.
Could
you
please
call
roll
Jimenez.
F
F
I
E
E
Thank
you,
we'll
start
with
the
consent.
Calendar
now
wait
a
minute.
We
should
go
to
orders
of
the
day.
First
shouldn't
we.
E
Okay,
we'll
try
it
that
way.
My
apologies
to
anybody
who's
waiting
around
we'll
start
with
the
consent.
Calendar
I
would
like
to
pull
item
2.10
the
fall
intergovernmental
relations
report.
Are
there
other
items
to
be
pulled
from
consent.
E
Okay,
so
I
have
no
hands
on
any
consent
items.
E
I
have
a
note
to
pull
item
2.10.
That's
actually
not
my
request,
unless
it's
any
of
my
colleagues,
if
not
I'll,
I'll,
simply
withdraw
that.
No
okay,
I
just
have
a
note
here.
So,
let's,
let's
simply
move
forward
with
the
entire
consent
calendar
we'll
go
to
public
comment.
N
All
right,
we're
Beekman
to
try
to
finish
this
item.
I
may
not
get
through
my
public
comment
here
to
speak
to
the
yearly
state
and
federal
funding
items
of
law
enforcement
on
today's
consent.
Calendar
all
major
various
cities
at
this
time
have
been
asking
in
the
public
meeting
space
if
armed
robots
and
heavily
militarized
law
enforcement
tools
can
be
practical
and
allowed
for
their
local
cities
and
communities
to
offer
some
history.
N
I'll
speak
a
open
Forum
on
the
rest,
if
I
don't
finish
as
law
enforcement,
as
technology
can
usually
take
a
first
priority
in
our
current
local
communities,
we
should
be
at
a
time
that
the
future
of
tech,
open
public
policies
and
accountability
questions
can
help
begin
for
all
of
the
communities
more.
Exactly
and
realistically
ask
how
important
is
the
need
of
technology
and
from
this
to
ask
more
responsible
questions
like
if
there's
already
ample
surveillance,
Tech
and
data
collection
in
the
neighborhood
area?
How
much
is
that
enough?
E
Thank
you,
I
just
realized,
hope,
I
better.
Take
myself
there
we
go
I'm
muted,
on
Zoom,
okay,
great
I
just
realized
why
it
is
I,
wanted
to
pull
item
2.10.
There's
a
memorandum
from
several
colleagues
and
myself
in
addition
to
accepting
the
report
to
urge
Congress
to
pass
the
respect
for
Marriage
Act,
and
so
that
would
essentially
place
that
I
believe
on
our
legislative
advocacy
agenda.
E
O
Thank
you
obviously
I'll
be
supporting
the
motion
and
I
wanted
to
actually
comment
on
2.9
and
2.10
I
wanted
to
thank
our
igr
team
for
a
really
impressive
report
on
the
legislative
program
and
and
then
regarding
the
memo.
O
Thank
them
for
including
the
bill
on
page
eight
and
nine
of
the
report
and
obviously
I'll
be
supporting
the
memo
and
and
I
had
a
a
question
for
our
igr
team.
If
is
that
Dosey
Zane
walking
up
or
who.
O
O
So
I
had
a
question
for
our
igr
team
on
the
the
hate
crimes.
Are
we
coordinating
with
the
county?
The
hate
crimes
task
force
has
done
a
tremendous
amount
of
work.
O
We've
aligned
that
work
with
the
city's
budget,
but
there's
still
more
work
coming
and
more
recommendations
coming
so
I
wanted
to
ask
that
the
our
work
on
hate
crimes
legislatively
and
our
advocacy
coordinate
with
the
county
and
so
I
think
that's
a
question
for
Lee
and
Zane,
because
I
know
I'm
not
sure
who's
taking
the
lead
on
the
budget
aspect
of
it.
P
Thank
you
very
much
for
your
question.
Zane
Barnes
intergovernmental
relations
I
can
tell
you
that
we
have
been
coordinating
with
the
county
through
our
bi-weekly
igr
calls
on
hate
crime
legislation
at
the
state
and
federal
level
in
terms
of
the
budget
piece.
Q
Yeah
council
member,
as
far
as
Lee
Wilcox
assistant
city
manager,
we
have
a
meeting
I
believe
on
Thursday
with
County
representatives
to
talk
about
the
budget
piece
as
well
as
some
other
coordination
around
some
of
the
public
safety
partners,
and
this
is
on
the
agenda
for
that
meeting.
O
E
E
R
I
just
wanted
to
indicate
how
important
the
Defense
of
Marriage
Act
proposal
was
and
that
we
continue
allowing
say
those
of
same-sex
marriage
to
obtain
and
continue
to
be
married
as
we
go
forward
in
a
country
that
is
questioning
that
right
now,
so
I
appreciate
any
efforts
we
can
do
to
ensure
that
that
occurs.
I
also
understand
that
this
is
moving
in
a
bipartisan
way,
which
is
really
fabulous
that
our
country
sees
how
important
it
is
that
that
we
have
same-sex
marriages
allowed
and
legal
through
every
state
in
this
country.
Thank
you
thank.
G
G
The
cbrt
initiative
is,
is
going
to
be
qualifying
for
the
ballot
the
next
month
or
two
and
obviously
I
know
it's
on
our
list
priorities,
but
I
just
figured
I
could
highlight
how
important
it
is
that
we,
as
a
city
and
as
collectively
across
the
state,
put
all
of
our
put
a
lot
of
resources
into
fighting
this
measure,
which
would
be
really
really
bad
for
public
jurisdictions,
whether
they're
cities
or
districts
or
other
things.
So.
P
Yeah,
thank
you
for
your
comment.
Councilmember
we're
already
starting
the
initial
process
of
coordinating
that
with
the
league
of
California
cities
and
we're
continuing
to
Advocate
on
that.
We
will
get
the
official
numbers
back
in
January
to
see
if
it
does
qualify,
which
we
know
it
probably
will
and
then
we'll
begin
to
figure
out
our
larger
advocacy
strategy.
E
A
E
You
all
right
we're
going
to
go
on
to
item
8.3,
which
is
amendmental
20..
The
San
Jose
munico
for
parking
Transportation
demand
management,
and
that
is
heard
concurrently
with
8.4,
which
is
the
amendment
to
city
council
policy,
5.1
Transportation
analysis
for
affordable
housing
projects,
Amir.
J
I'd
like
to
make
a
request
to
move
item
8.3
and
item
8.4
to
be
heard
during
the
evening.
E
Okay,
I
I
would
support
that
I've
heard
from
two
community
organizations
that
would
like
to
be
able
to
have
public
comment
and
it's
difficult
for
them
to
have
their
members
offer
comment
at
this
time
of
the
day.
Is
there
any
objection
to
her
hearing
that
I
guess
would
be
first
thing:
6
p.m.
As
soon
as
we're.
E
Okay,
are
there
any
objections,
councilmember
Davis.
S
Hi
mayor,
we
did
notice
this
as
being
heard
to
to
be
heard
right
after
consent,
so
I
I
would
respectfully
disagree
to
Move
It,
I
and
also
I,
just
like
to
point
out.
I
have
a
memo
on
this,
and
I
probably
am
not
going
to
make
it
too
much
past
lunchtime
today.
So
I
would
hope
that
my
colleagues
would
be
willing
to
to
hear
it
earlier.
O
O
You
know
folks
are
expecting
to
have
that
heard
at
6,
PM
and
so
I
think
we're
sending
out
some
conflicting
messages
here
and
those
folks
would
end
up
waiting
till
you
know
possibly
late
I
mean
it's
kind
of
hard
to
predict
our
schedule
at
this
point,
but
I'm
concerned
about
item
8.2
and
the
impacts
on
8.2,
which
is
time
certain
at
6
pm.
E
Okay,
I
want
to
clarify
for
the
record.
First
of
all,
we
have
not
had
orders
of
the
day.
I
specifically
asked
if
we
should
have
orders
of
the
day,
so
we
could
consider
this
very
request
from
vice
mayor
Jones,
which
I
think
is
a
reasonable
one.
In
light
of
the
fact,
there
was
a
significant
amount
of
community
interest
in
this
item
and
I
can't
imagine
hearing
an
item
of
significant
Community
interest
that
involves
development
at
11
A.M
when
we've
got
community
interest
and
being
able
to
testify
both
from
neighborhoods
and
from
environmental
organizations.
H
E
Not
I'm
not
finished
yet
the
6
PM
item
the
8.2
was
not
set
for
time
certain.
It
says
not
to
be
heard
before
so
we
can
certainly
hear
both
there's
only
one
item
set
at
6
PM.
It's
not
hard
to
be
able
to
hear
both
of
those
items
at
6
pm,
and
that
would
be
consistent
with
our
practice
on
all
items
involving
have
implications
for
development.
They're
typically
heard
in
the
evenings.
O
T
I
T
You
I
I'm
just
mostly
concerned
because
we
we
did
agendize
it,
and
so
we
may
have
some
speakers
I
think
we
can
remedy
that.
I,
don't
know
if
we'll
be
able
to
remedy
councilmember
Davis,
because
I
know
she's
just
extremely
under
the
weather
with
covet
here,
but
maybe
we
could
remedy
this
by
allowing
if
there
are
public
commenters
that
are
here,
because
we
noticed
it
at
11,
allow
them
to
speak
on
the
item
and
then
we
can
take
action
this
evening.
T
I
I'd
be
fine
with
that.
If
you'd
be
comfortable
with
it,
yeah.
E
Okay,
why
don't
we
hear
public
comment
on
these
items
now
and
then
we
could
entertain
a
motion.
Would
that
be
appropriate?
Well,.
E
L
I
Yeah
I
just
wanted
to
clarify
that,
so
there
will
be
two
opportunities
for
public
comment
on
the
item,
one
now
for
those
who
were
hoping
to
speak
now,
one
this
evening
when
it
comes
back
up,
I
also
just
wanted
to
clarify
in
terms
of
any
impact
on
8.2.
We
we
could
certainly
choose
to
hear
8.2
at
six
and
then
hear
this
immediately.
After
is.
I
E
Okay,
any
other
councilman
Foley.
R
Hey
hate
to
pile
on
or
get
involved
in
the
middle
of
this,
but
we
do
have
our
staff
here,
I'm
wondering
if
we
could
go
to
the
staff
presentation
right
now
then
have
public
comment
and
then
postpone
action
on
postpone
any
action
on
the
item
until
after
six.
E
H
M
Yeah
I
I
guess
I
have
no
issue
doing
what
we're
interested
in
doing,
but
I
I
recognize
that
council
member
Davis
has
been
really
engaged
on
this
topic
and
has
a
memo,
and
so,
as
part
of
this
public
comment,
I'd
love,
especially
if
she's
not
going
to
be
here
for
the
evening
meeting.
I'd
love
to
hear
her
perspective
on
the
item.
I'm,
not
sure
how
we
approach
that.
But
you
know
if
she
can
sort
of
share
her
concerns
because
I
know
a
lot
of
the
work
has
happened
in
tne
sure.
E
Why
don't
we
do
this?
If,
once
we
hear
public
comment
from
those
who
are
here
or
on
zoom
and
like
to
comment
now,
if
councilman
Davis
indicates
she's
unable
to
be
with
us
in
the
evening,
then
we'll
hear
from
councilmember
Davis
and
then
we'll
we'll
continue.
Is
that
appropriate.
E
Yes,
okay,
great
councilman,
I'm
having
a
hard
time
tracking
all
the
hands,
so
I've
got
council
member
Esparza,
then
Perales,
then
Davis.
O
Yes,
I
I
had
a
clarification,
so
I
I
think
this
has
been
a
really
helpful
discussion,
appreciate
everybody's
ideas
to
figure
out
a
path.
So
just
for
clarification,
what
will
happen
right
now
is
we'll
hear
the
presentation,
the
15-minute
presentation.
O
We
will
then
hear
public
comment
today,
right
now
comments
from
council
member
Davis
and
then
continue
the
item
until
this
evening.
Is
that
correct.
E
T
So
there
you
go
sorry,
sorry,
no,
my
my
my
Bluetooth
cut
out-
apologies
yeah
I
mean
at
this
point
you
get
a
little
convoluted,
but
through
the
conversation,
I
was
kind
of
thinking
along
the
lines
of
council
member
Esparza
that
maybe
we
just
hear
the
presentation
gets
whoever's
here
for
public
comment.
Having
to
do
public
comment
allow
councilmember
Davis
to
speak,
and
then
we
continue
it's
almost
the
same
right.
It
just
gives
people
an
opportunity.
T
I
know
what
vice
mayor
was
looking
for
was
let's
give
people
an
opportunity
to
actually
come
in
the
evening
to
speak
on
this
item.
We
can
get
as
far
as
possible
and
still
do
that
by
allowing
the
presentation
to
happen
now
as
it
was
scheduled.
You
know
whoever's
here
to
win.
A
comic
can
comment
so
anyway,
I'm
comfortable
with
that
direction.
I,
don't
necessarily
think
we
need
to
keep
beating
this
bush,
though
so
I'm
fine
either
way,
but
I
do
think
that
would
be
reasonable
as
well.
Okay,.
S
Thank
you,
I
I
want
to
just
appreciate
my
colleagues
for
for
trying
to
accommodate
me.
I
I
don't
want
I,
don't
want
to
speak
before
every
everyone
from
the
public
has
been
been
able
to
speak,
so
I
will
I,
will
endeavor
to
to
rally
and
come
come
back
at
six
o'clock
after
after
this
item
is
heard
or
after
after
lunch.
E
E
Come
back
this
evening,
okay,
understood
okay.
So
let's
go
to
public
comment
for
those
who
are
here
would
like
to
speak
this
morning
and
you'll
only
get
one
bite
at
the
Apple.
If
you
speak
this
morning
before
we
go
to
public
comment,
councilman
just.
E
V
E
L
You're
going
to
take
the
matter
up
as
it's
noticed
after
consent,
but
you're
going
to
split
your
hearing
and
you
can
you
can
do
that
so
just
to
accommodate
some
of
the
timing.
Issues.
E
W
As
we
know,
our
carbon
footprint
won't
reduction
won't
happen
unless
we
change
land
use
patterns
and
prioritize
that
prioritize
cards
as
a
primary
mode
of
transportation.
Providing
TDM
measures
is
necessary
for
projects
going
forward
and
future
projects
should
support.
Reducing
VMT
by
limiting
their
single-use
occupancy
vehicle
trips
strongly
support
a
TDM
plan
that
replaces
arbitrary
and
excessive
parking
mandates.
W
Changes
to
TDM
will
reduce
in
order
to
use
VMT
and,
as
a
result,
reducing
less
traffic
congestion,
air
pollution,
global
warming
alongside
we
definitely
need
to
be
taking
prioritizing
every
tool
in
the
tool
belt
to
take
our
housing
crisis
seriously.
We're
raising
money
to
fund
more
affordable
housing,
but
cities
and
developers
are
running
into
challenges
with
these
Antiquated
parking
requirements.
That
means
we're
getting
less
housing
and
even
less
affordable
housing.
W
A
study
in
2020
found
that
in
affordable
housing,
one
parking
space
per
unit
increases
caused
by
12.5
percent
and
two
spaces
increased
cost
by
25
percent,
one
in
ten
households
that
rent
their
units
do
not
own
cars
and
that's
over
12
000
households
in
San
Jose
that
they
pit
that
pay
for
parking
that
they
don't
use.
I
just
really
want
to
thank
the
council,
the
commission
and
the
staff,
or
all
of
your
work
on
this
to
ensure
positive
and
sustainable
climate
and
housing
outcomes
for
our
communities.
Thank
you
again.
Please
support
the
staff
recommendation.
E
Let
me
remind
for
members
of
the
public
who
may
be
confused
and
I
can't
blame
anyone
for
being
confused
through
all
this
that
we're
taking
and
thank
you,
Ali.
Your
comment
was
on
the
proper
item.
So
I
don't
want
to
mislead
anyone,
but
the
two
items
we're
hearing
together
for
public
comment
this
morning
are
8.3
and
8.4
8.3.
E
Our
amendments
to
the
parking
Transportation
demand
management
policy,
ordinance
and
8.4
is:
is
the
council
policy
Transportation
analysis
for
affordable
housing
projects?
We'll
hear
any
public
comment
now
and
for
those
who
haven't
spoken
this
morning,
we'll
hear
public
comment
when
this
is
called
after
six
o'clock,
so
I
want
to
make
sure
everyone's
aware
of
what
we're
doing.
You
can
certainly
comment
at
either
time,
but
you
can't
comment
both
times.
E
E
We're
going
to
defer
these
items
now
until
the
evening
and
we'll
go
to
item
3.1.
The
report
of
the
city
manager.
E
Thank
you
Jennifer
item
3.3
is
a
statement
of
policy
and
questions
for
the
prospective
Director
of
Finance.
E
Okay,
let's
vote
on
Vice
mayor's
motion
Jimenez.
M
F
G
G
I
E
X
Thank
you,
mayor
city
council,
Rosalind,
Huey,
Deputy,
city
manager,
I'm
joined
this
morning
by
my
colleagues
on
the
covid-19
recovery
team
and
the
city
manager's
office.
We
have
Rob
Lloyd,
Deputy
city
manager,
Carlos
Velasquez
assistant
to
the
city
manager
and
Aurelia
Bailey,
also
assistant
to
the
city
manager.
We're
really
excited
to
be
with
you
this
morning
to
share
the
results
of
the
year-long
process
of
the
covid-19
recovery
task
force.
X
Just
as
a
quick
reminder,
the
city
council
first
approved
the
covid-19
recovery.
Enterprise
priority
is
part
of
the
city
road
map
back
in
March
of
2021
and
then
September
of
2021.
The
city
council
actually
established
the
55-member
task
force
with
the
goal
of
really
the
task
force
to
work
with
our
residents
in
the
San
Jose
Community
to
consider
the
future
on
how
to
stabilize
both
our
our
families,
our
workers
and
our
small
businesses.
X
So
in
terms
of
setting
out
its
work
for
the
task
force,
the
group
over
the
year
over
the
last
year
has
met
12
times.
Virtually
our
meetings
were
open
to
the
public.
We
had
live
interpretation
in
both
Spanish
and
Vietnamese
and
to
undertake
its
work.
The
task
force
decided
to
establish
nine
different
committees
by
various
topics
as
you'll
see
on
this
slide,
and
this
is
really
where
the
meat
of
the
work
happened
at
the
committee
level.
Y
Greetings
mayor
council
shown
here
are
the
goals
that
were
part
of
the
community
engagement
plan.
The
task
force
created
and
implemented
this
summer,
The
Outreach
that
we
conducted
was
an
important
part
of
the
task
force
process
as
it
provided
the
community
input
needed
to
inform
the
task.
Force's
recommendation
in
the
report.
Y
We're
happy
to
share
that
we
were
able
to
engage
with
1
500
people
through
31
activities
this
summer,
thanks
in
large
parts
of
the
nine
members
of
our
lived
experience
group
who
helped
organize
activities
like
pop-up
tabling
at
events,
virtual
and
in-person
forums,
focus
groups
pop-ins
to
existing
Community
meetings
and
a
community
resource
fair
that
500
people
attended.
I'm.
Sorry,
this
is
the
in
addition
to
community
survey.
The
task
force
developed
was
completed
by
more
than
700
people,
38
who
completed
it
in
Spanish
or
Vietnamese.
Y
Here
you
can
see
some
of
the
key
issues
heard
from
the
community
affirming
much
of
what
we
know.
Outreach
and
awareness
is
one
key
issue.
We
wanted
to
highlight
three
out
of
five
survey.
Respondents
indicated
that
their
biggest
challenge
in
in
accessing
the
city's
recovery
resources
was
that
they
just
didn't
know
about
them
or
who
to
contact.
This
is
just
a
summary
of
the
findings,
and
the
full
report
shared
with
the
task
force,
helped
inform
their
final
recommendations.
Z
Foreign,
thank
you
Carlos
good
morning,
mayor
council,
members
and
members
of
the
public.
My
name
is
Aurelia
Bailey
and
I'm
also
an
assisted
to
the
city
manager
from
the
city
manager's
office,
part
of
the
recovery
team.
Earlier
today
earlier
in
our
presentation,
Rosalind
mentioned
the
task
force
established
nine
committees,
so
throughout
this
process
to
help
them
organize,
a
template
was
developed
to
formulate
gold
strategies
and
actions.
The
Committees
met
on
identifying
key
needs,
impacts
related
to
each
issues
reviewing
relevant
reports.
Z
They
heard
from
City
staff
from
various
departments
about
existing
City
initiatives
and
programs
and,
after
the
results
from
our
summer
Community
engagement
process
that
Carlos
had
just
mentioned:
committees,
Incorporated
Community
feedback
into
their
recommendations,
so
we
ended
up
with
88
recommendations.
10
of
these
recommendations,
the
task
force
assigned
the
2
million
set
aside
by
city
council,
the
recommendations
actually
align
with
our
existing
recovery
initiatives,
housing
stabilization,
food
and
Necessities
health
and
wellness,
Child,
Care,
youth
families,
workers
and
small
businesses.
Z
The
recommendations
are
organized
into
three
categories,
as
you
can,
as
you
can
see,
nearly
half
of
the
recommendations
are
underway
as
part
of
the
city's
work
plan.
We
have
some
actions
that
will
require
city
council
policy
Direction
and
then
recommendations
that
will
require
additional
evaluation
and
resources.
Z
Steps,
so
next
steps
is
our
first
Focus
will
be
on
the
10
recommendations
that
have
been
allocated
funding.
We
will
coordinate
with
the
various
departments,
create
work
plans
to
get
those
going
and
finalize
the
impact
metrics.
We
will
be
providing
updates
to
the
community
and
economic
development
committee.
We
are
already
scheduled
into
draft
work
plan
to
provide
updates
in
May
of
next
year.
AA
Good
afternoon,
Council
to
the
credit
of
all
the
process
worked.
Well
all
the
task
force
members
at
the
last
meeting
expressed
what
a
special
experience
it
was.
Community
leaders
work
together
with
focus
in
high
Mutual
support.
Here
you
see
the
partner
organizations
whose
assigned
leads
served
on
the
task
force
and
they
exhibited
exceptional
collaboration,
and
the
city
cannot
be
more
grateful
for
the
dedication
and
contribution
of
these
over
60
people.
AA
Sorry
I
slipped
by
that
one
and
then
for
the
special
expression
of
of
gratitude
and
appreciation
for
the
lived
experience
group.
This
work
was
supported
by
a
grant
from
the
Silicon
Valley
Community
Foundation
as
well,
and
these
nine
Community
Leaders,
with
direct
lived
experience
from
pen
from
the
pandemic,
assisted
the
task
force
and
the
staff
conduct
deep
engagement
in
neighborhood.
Sorry
with
neighborhood
and
Community
groups
through
focus
groups,
workshops
and
events,
and
with
that
we're
here
to
answer
any
questions
and
take
any
feedback.
E
Thank
you
thank
you
Rosalind
and
Carlos,
and
Aurelia
and
Rob,
and
everybody
who
worked
on
this
task
force.
Effort
I
know
that
these
Community
uh-led
efforts
required
an
enormous
amount
of
staff,
time
and
investment
in
order
to
do
it
well
and
I
really
appreciate
the
work
that's
been
done,
and
particularly
some
of
the
really
good
ideas
that
we've
piloted,
for
example,
at
the
promontoris,
which
I
hope
will
continue
to
persist
for
many
years.
Let's
go
to
the
public
and
then
we'll
come
back
to
the
council.
U
U
First
I
would
like
to
offer
thanks
to
the
council
and
staff
for
establishing
the
recovery
task
force
as
a
place
for
the
non-profit
community-based
organizations,
as
well
as
businesses
and
residents
to
develop
strategies
to
help
stabilize
the
communities
that
were
most
harmed
by
the
pandemic.
Much
like
the
communities
I
serve.
It
is
critical
to
gain
the
input
of
people
with
lived
experience
related
to
the
pandemic,
and
we
appreciate
your
willingness
to
be
inclusive
of
these
voices.
U
We
appreciate
the
city's
responsiveness,
responsiveness
to
the
real
coalition's
requests
to
conduct
a
very
open
Community
process
using
its
art
resources
and
I'm,
a
member
of
the
reals
budget
Justice
work
Group,
which
is
supportive
of
the
current
recommendations
and
allocations.
We
specifically
agree
with
the
task
force
finding
that
two
million
dollars
for
these
important
approaches
is
not
sufficient.
We
agree
with
the
task
force
and
staff
that
the
city
council
should
use
the
unfunded
recommendations
as
a
template
for
upcoming
budget
decisions.
U
AB
Yes,
also
from
the
Horseshoe
I,
don't
think
I
heard
a
lot
of
words,
but
that's
all
I
heard
just
a
bunch
of
words
strung
along
into
a
sentence,
but
had
no
real
meaning.
You
didn't
convey
nothing
to
me,
absolutely
nothing,
but
that's
because
I'm,
not
in
the
note
I
see
I,
don't
belong
to
a
non-profit.
AB
AB
My
community
suffered
the
most
deaths
period
period,
and
that
is
because
we
were
servicing
white
communities
and
we
were
because
we
were
exposing
ourselves
to
the
grocery
stores,
because
we
were
exposing
ourselves
to
the
food
service
industry
because
we
were
exposing
ourselves
to
all
of
these
threats.
We
were
taking
death
back
to
the
families
and
we
were
killing
our
elders
and
what
this
city
did.
Is
they
propped
him
up
and
said?
AB
Oh
you're,
you're,
you're,
you're,
you're,
you're
I,
don't
know
you
call
them
something
so
you're
an
essential
worker
yeah,
an
essential
worker
while
they
were
taking
death
back
to
their
elders
and
killing
them,
and
this
city
thinks
that
it
doesn't
need
it.
It
doesn't
have
to
quantify
what
that
actually
looks,
like
you
think,
you're
just
gonna
come
here,
throw
some
money
at
these
non-profits,
especially
it's
almost
Mayfair,
and
see
whether
it's
Collective
and
shut
them
up.
AB
Okay,
maybe
they'll
shut
up
because
they're
getting
paid
by
the
city,
but
I'm
not
going
to
shut
up
because
I
am
not
compromised
by
money.
I
don't
do
this
for
money.
I
do
this
for
justice,
and
this
city
owes
me
Justice
ever
since
sassy
puedes.
You
owe
me,
and
this
city
is
going
to
pay
it's
going
to
pay
big
time
and
I'm
gonna.
Get
that
reparation.
Believe
me.
AC
Thank
you
and
hello
mayor
and
council
members,
Louise
Howard
from
working
Partnerships
I
served
on
the
recovery
task
force
for
the
past
12
months
and
I
want
to
thank
and
commend
the
city
staff
who
worked
on
it
for
all
their
support
and
also
for
their
flexibility
and
willingness
to
learn
from
the
community
and
make
changes
as
they
went
when
the
task
force
begun
its
Mission
and
its
mandate
did
not
include
supporting
workers
in
San
Jose.
AC
The
task
force
voted
to
add
that,
and
it
was
added
and
became,
as
we
saw
in
the
survey
one
of
the
biggest
issues
affecting
people.
The
task
force
when
it
started
did
not
have
subcommittees
working
groups
anyway
for
task
force
members
to
develop
their
own
recommendations.
The
task
force
saw
a
need
for
that
created.
Those
subcommittees
and
staff
were
very
generous
and
supportive
in
helping
make
those
happen
and
move
them
along.
AC
So
I
think
this
is
a
very
rich
process
and
I
would
really
urge
you
to
look
at
the
entire
set
of
recommendations
that
came
out
from
the
task
force.
This
2
million,
as
Kathy
Cordova
mentioned,
is
really
a
drop
in
the
bucket
bucket
I
hope
that
this
entire
report
can
be
a
guide
for
the
next
few
years
for
the
city,
both
in
its
budget
process
and
in
policy
setting
in
the
city
road
map
and
looking
at
what
are
the
priority
policies
that
the
city
is
going
to
pursue
the
next
few
years.
AC
This
can
be
a
way
to
ensure
that
that's
Guided
by
the
needs
of
the
communities,
the
needs
of
small
businesses,
the
needs
of
workers
as
they've
been
articulated
in
this
year-long
process.
So
thank
you
very
much
for
the
opportunity,
and
this
is
not
the
end
of
the
process.
I
hope
this
is
just
the
beginning.
N
Hi
we're
Beekman
here
thanks
a
lot
for
the
words
of
public
comment
today
and
of
the
previous
speaker.
N
I
will
definitely
want
to
look
into
this
report
in
this
reporting
what
it
can
work
towards
for
our
future
I
offered
public
comments
tonight
that
or
last
night
that
I
I
was
kind
of
I'm
kind
of
embarrassed
about
having
to
continuously
offer
the
concepts
of.
Are
we
going
to
have
an
earthquake
in
the
year
of
2023?
I
feel
I
have
to
do
that
in
the
name
of
a
certain
openness
to
understand
the
issue
and
Clarity
for
ourselves
to
to
consider
it.
N
But
it's
embarrassing
to
have
to
to
ask
that
question
and
I'm
sorry
for
its
trouble,
I
I'm
trying
to
learn
how
to
do
it
in
in
decent
terms
and
I.
Think
from
what
I
learned
from
last
night
was
that
you
know
it.
Maybe
it's
the
overall
questions
of
how
to
consider
natural
disaster
preparedness
practices.
That
is
a
as
a
way
to
consider
more
direct
questions.
If
there's
going
to
be
an
earthquake
and
I
feel
this
sort
of
committee,
this
task
force
and
its
work
with
the
covet
issues
can
very
well
address.
N
You
know
the
future
of
natural
disaster
issues
for
San,
Jose
and
I
know.
I
know
the
mayor
and
city
government
has
worked
really
well
to
create
a
good
set
of
natural
disaster
preparedness
plans
and
practices
that
I
hope
this
covid-19
task
force
has
taken
to
heart
and
has
been
a
part
of
this.
What
can
be
good
learning
steps
for
our
future
as
natural
disaster
preparedness
will
be
important
for
our
future
I
think.
That's
a
better
overall
view
of
how
to
ask
my
initial
young
man's
questions.
N
So
so
thank
you
for
these
efforts.
I'll
definitely
want
to
read
it
and
and
good
luck,
how
we
work
as
a
community
on
issues
and
thanks
for
your
time.
AD
Yeah,
thank
you
very
much
mayor
and
thank
you
to
the
staff
and
for
the
The
Briefing
that
you
provided
and,
most
importantly
to
the
task
force
members
for
all
of
your
engagement
and
your
your
work
and
investment
in
this
process.
Over
the
last
year
when
we
initiated
this.
AD
The
concept
stemmed
from
the
success
that
we
saw
in
the
covert
recovery
task
force
on
the
greater
downtown
area
that
my
office
helped
to
convene
and
I
saw
a
benefit
and
really
heard
that
benefit
from
the
participants
of
that
task
force
and
thought
that
there
could
be
a
a
real
expanded
benefit.
AD
If
we
looked
at
something
city-wide,
especially
considering
the
opportunity
that
we
have
coming
out
of
this
pandemic
and
and
I
think
it
was
well
worth
it
number
one
reflective
on
where
we
have
invested
over
the
last
couple
years
in
responding
to
the
needs
of
the
pandemic.
And
so
it
was
good
hear
that
a
lot
of
these
things
are
are
what
our
community
was
wanting
and
what
they
continue
to
want.
AD
The
one
I
think
piece
that
was
surprising
and
unfortunate,
but
I'm
glad
that
we've
heard
it
and
we're
hopefully
going
to
try
to
amend
it
is,
is
the
the
awareness
portion
and
I
know.
There's
the
community
engagement
resources
that
were
allocated,
for
instance,
to
like
the
the
resource
Fair,
the
annual
resource
Fair
based
on
code
recovery,
and
then
just
general
awareness
like
the
through
the
promotores
program.
But
I
do
believe
that
you
know
we.
AD
We
do
a
lot
to
try
and
create
awareness
all
the
way
to
the
extent
of
door-to-door
of
of
trying
to
to
reach
out
to
community
members
with
the
services
that
the
city
has
available,
but
even
still
through
this
process,
we've
heard
from
the
community
that
that's
one
of
the
the
barriers
which
is
that
our
community
didn't
know
what
we
had
to
offer
and
it
is
daunting
when
you're
dealing
with
every
issue
that
that
comes
about
pre-pandemic
family
life,
work,
multiple
jobs.
AD
Potentially
you
already
don't
have
an
extreme
opportunity
to
engage
with
your
local
government,
the
resources
they
may
have.
But
then
you
add
a
pandemic
on
top
of
that,
and
people
are
just
trying
to
survive,
and
so
it's
really
incumbent
on
us
to
get
this
type
of
information
directly
in
front
of
them
and
and
so
I'm
looking
forward
to
to
the
those
two
opportunities
which
and
I
really
like
the
one
that
the
resource
for
the
annual
resource
Fair
and
be
able
to
spread
that
out
to
different
communities
coming
out
to
our
community.
AD
Let
me
know
that
there's
going
to
be
a
continued
support
for
them
and
Beyond
the
pandemic,
as
we
know
that
the
City
offers
support
to
our
community,
so
I
think
that's
an
ongoing
need
that
we
will
have
and
continue
to
want
to
look
at
overall
I
I
do
believe
that
the
2
million,
as
was
stated,
is,
is
a
drop
in
the
bucket,
and
we
know
that
on
on
Council
here
we
had
a
heated
discussion
last
night
on
on
how
far
you
know,
a
couple
million
or
a
dozen
million
can
can
go
and
I
know
that
this
task
force
would
be
extremely
pleased
to
see
the
council
allocate
even
say
double
the
resources
in
each
of
these
categories.
AD
AD
We
have
the
roadmap,
and
now
the
council
has
a
bit
of
of
a
start,
because
we
seated
that
with
the
two
million
dollars,
but
I
think
we
can
now
make
some
further
Investments
and
and
look
back
to
this
work
to
determine
where
those
events
Investments
should
be
made.
So
I
encourage
my
colleagues
that
are
remaining
on
Council
to
take
this
report.
Look
at
this,
as
you
bet
out
the
budget
and
City
staff
as
well
as
I
know.
AD
You
will,
as
you
make
some
of
those
decisions
next
year,
but
thank
you
again
to
everybody
involved
and
I
know
we'll
be
through
my
office,
helping
to
provide
a
a
combination
and
recommendation
or
excuse
me
recognition
for
all
the
task
force
members
next
week
during
our
final
council
meeting
and
with
that
I'll
move
approval.
Thank
you
second.
O
Thank
you.
I
also
wanted
to
take
a
moment
and
thank
all
the
folks
for
their
work
on
this
task
force,
and
this
work
has
been
really
strategic
and
it
shows
how
critical
this
work
is
needed,
as
people
continue
to
be
hit
hard,
economically,
socially
in
health
as
we're
seeing
as
coming
into
the
winter.
These
continue
to
be
issues
and
I
wanted
to
Echo
councilmember
paralysis.
O
Comments
on
you
know
this
city
council,
this
city
council,
in
the
middle
of
covid,
made
some
really
big
decisions
about
projects
and
some
big
decisions
and
budget
decisions
around
Child,
Care,
early
care
and
out
of
school
programs,
and
so
it's
great
to
see
that
that
that
really
aligns
with
the
community
and
I
wanted
to
highlight
the
need
for
continued
Economic
Security.
That
is
mentioned
in
this
report.
O
Rents
for
low-income
folks,
so
rents
remain
flat
at
higher
rents,
but
at
lower
income
rents
rents
are
climbing,
they
are
climbing
and
that
remains
a
big
issue.
Minimum
wage
issues
continue
to
be
a
huge
issue
moving
forward
and
addressing
that
Economic
Security
is
important
and
also
wanted
to
thank
the
task
force
for
really
including
small
businesses.
O
The
mom
Mom
and
Pops,
particularly
in
aging,
sort
of
corridors,
a
lot
of
those
businesses
have
been
hit
really
hard
in
the
last
few
years,
and
so
this
task
force
has
done
really
great
work
and
I
also
wanted
to
Echo.
The
comments
about
I
hope
that
the
council
in
June
aligns
this
work
with
the
budget
that
the
council
will
approve
in
June,
because
this
is
I
see
this
as
sort
of
a
strategic
plan
for
that
should
align
with
the
city's
bigger
budget,
and
these
items
are
going
to
need
bigger
investment.
K
F
F
F
E
Thank
you
all
right,
I'm
told
under
the
rules
committee
Direction
thanks
everybody
that
we're
going
to
keep
going
ahead
until
12
30.
E
and
then
we'll
take
a
break
and
come
back
at
1
30.,
given
I
think
all
of
our
mutual
efforts
to
try
to
plow
ahead.
If
we
cut
that
hour
break
into
a
half
hour,
I
certainly
won't
object.
I'll
be
happy
to
hear
from
my
colleagues
to
their
views,
but
in
the
meantime,
I'm
going
to
keep
going
to
12
30..
R
E
A
AE
E
Man
who
appreciates
lunch
breaks
like
no
one:
okay,
we'll
keep
plowing
ahead
until
1pm.
In
the
meantime,
we've
got
a
team
heading
down.
Welcome
Julia
and
team
talk
about
item
3.5,
which
is
our
annual
comprehensive
financial
report
for
the
fiscal
year
that
just
ended
in
on
June
30th.
We're
gonna
hear
this
item
concurrently
with
items
3.6
and
item
9.1,
but
we
are
going
to
vote
on
these
separately.
So
let
me
call
those
items
now
that
is
item
3.6,
which
is
the
external
Auditors
report,
which
is
a
report
to
those
charged
with
governance.
E
Which
is
the
we'll
be
convening
the
successor
agency,
the
Redevelopment
agency
of
the
city
of
San
Jose,
and
we're
going
to
hear
the
art
of
financial
statements
for
the
successor
agency?
Okay,
that's
a
lot
to
do.
Julia.
Take
it
away.
V
So,
let's
see
I'm
trying
to
say
if
it's
good
morning
or
good
afternoon,
it's
par
almost
between
the
two.
So
so
the
annual
audit
was
conducted
this
year
by
Macias,
Genie
and
O'connell
enjoy
and,
as
I
said,
we've
got
three
of
us
making
the
presentation
The
Verge
in
the
virtual
audience.
V
We
have
members
of
the
city's
Finance,
accounting
team
and
I,
want
to
acknowledge
and
thank
the
accounting
team
for
their
extraordinary
effort
in
producing
the
various
financial
statements
and
audit
coordination,
and
we
will
also
take
questions
at
the
end
of
The,
Joint
presentation.
V
So
in
terms
of
the
presentation
outline
we'll
first
talk
about
the
annual
comprehensive
report,
then
the
successor
agency
report
and
then
finally
the
report
that
those
should
charge
with
governance.
As
part
of
that
last
item,
David
Bullock
will
share
the
independent
Auditor's
report
and
the
accounting
standards
that
were
implemented
during
the
fiscal
year
and
I
will
provide
the
management
response
and
conclude.
The
presentation.
V
I
do
want
to
note
that
the
fiscal
year
20,
the
2122
audit,
is
the
first
time
in
12
years
that
the
city
has
received
a
report
to
those
charged
with
governments
with
no
new
findings
and
fully
corrected
the
prior
year
findings.
So
that
is
an
extraordinary
effort,
and
since
this
is
the
last
time,
I
will
be
presenting
this
document
to
the
council,
one
that
I'm
very
proud
of
I'm,
very
proud
of
the
accounting
team.
V
So
thank
you
very
much
so
so
and
we'll
go
in
more
detail,
but
I
wanted
to
start
with
the
good,
the
very
good
news
so
on
the
next
Slide.
The
audit
includes
a
number
of
engagements.
There
are
22,
separate
audits
or
engagements
with
MGO.
So,
in
addition
to
the
big
document
that
we
all
gave
you
a
hard
copy
of
last
week,
they
also
do
Standalone
audits
for
the
component
units,
which
include
the
airport,
the
successor
agency
and
clean
energy.
V
They
also
audit
the
convention
center
and
cultural
facility
funds
and
the
bond
funds,
and
this
year
we're
also
happy
to
report
that
we
completed
the
final
closeout
of
the
audit
of
the
2002
measure,
o
neighborhood
security
Bond
projects.
So
all
those
Bond
proceeds
have
been
spent
and
accounted
for
and
the
final
audit
was
produced.
V
Oh
I
know
okay,
so
we
also
had
audits
on
the
library
parcel
text,
the
investment
program,
compliance
South,
Bay,
Water
recycling,
Viva
and
deferred
Deferred
Comp
plans.
The
single
audit
is
still
in
production
and
an
informational
memo,
along
with
the
summary
of
any
findings,
will
be
provided
to
council
once
it's
complete.
It
has
a
March
31st,
2023
Federal
deadline.
V
We
also
partnered
with
MGO
this
year
to
support
the
city
in
a
multi-year
engagement
to
implement
Gatsby
87,
which
is
regarding
leases
and
will
soon
kick
off
an
implementation
for
gasby
96,
which
is
based
on
subscription-based
I.T
Arrangement.
It's
a
significant
multi-year
effort
that
involves
nearly
every
city
department
and
the
leases.
In
effect,
this
year's
akfer
and
the
subscription-based
I.T
Arrangements
will
be
effective
in
next
year's
act
for
which
is
fiscal
year.
23..
V
AF
Thank
you,
Julia.
The
annual
comprehensive
financial
report
is
the
city's
set
of
audited
financial
statements
that
comply
with
the
accounting
requirements
established
by
the
governmental,
Accounting,
Standards,
Board
or
Gatsby.
It
must
be
audited
by
independent
auditor
using
generally
accepted
government
auditing
standards,
and
this
year's
act
for
his
344
pages
and
organized
into
the
following
major
sections.
AF
The
introductory
section
orients
and
guides
The
Reader
through
the
report
and
includes
the
letter
of
transmittal
certificate
of
achievement
for
excellence
in
financial
reporting.
The
distinguished
budget
preparation
award,
the
listing
of
elected
officials
in
the
city's
organizational
structure
by
function,
the
fiscal
year
2021
hack
for
earned
the
gfoa's
certificate
of
achievement
for
excellence
in
financial
reporting.
AF
AF
Now,
on
to
the
audited
financial
statements,
the
government-wide
financial
statements
includes
the
primary
government
of
the
city
and
other
separate
component
units
for
which
the
city's
Financial
the
accountable.
Both
statements
are
presented
using
the
economic
resources,
measurement
focus
and
the
accrual
basis
of
accounting.
This
means
that
revenues
are
recorded
when
earned,
and
expenses
are
recorded
at
the
time
liabilities
are
incurred.
AF
There
are
two
statements
within
the
government-wide,
the
statement
of
net
position
and
the
statement
of
activities.
The
statement
of
net
position
is
similar
to
the
balance
sheet
of
a
commercial
business
and
represents
information
on
all
assets,
deferred,
outflows
of
resources,
liabilities
and
deferred,
inflows
of
resources.
The
difference
between
total
assets
and
deferred
outflows
of
resources
and
total
liabilities
in
deferred
inflows
of
resources
is
the
city's
net
position
over
time.
AF
Increases
or
decreases
in
net
position
may
serve
as
a
useful
indicator
of
whether
the
city's
financial
position
is
improving
or
declining,
and
the
statement
of
activities
is
similar
to
the
income
statement
of
a
commercial
business
and
presents
information
showing
how
the
net
position
changed.
During
the
fiscal
year,
net
Position
will
increase
if
revenues
exceed
expenses
and
decrease.
If
expenses
exceed
revenues,
finally,
the
fund
financial
statements
report,
information
about
groupings
of
related
accounts
used
to
maintain
control
over
resources,
segregated
for
specific
activities
or
objectives.
AF
The
liabilities
and
deferred
inflows,
which
is
represented
by
the
shaded
areas,
below
the
line
decreased
by
148
million
from
8.08
billion
to
7.941
billion,
primarily
due
to
the
decrease
in
recognized
pension
and
open
liabilities,
short-term
accounts
payable
and
unearned
Revenue.
So
the
total
net
position
ended
the
fiscal
year
at
3.98
billion.
AF
The
statement
of
activities
is
located
on
page
28
of
the
act
for
overall.
The
city's
revenues
experience
the
recovery
with
notable
increases
in
property,
tax
sales,
taxes,
business
taxes
and
hotel
taxes,
as
compared
with
the
prior
fiscal
year.
In
addition,
the
city's
expenses
were
lower
than
the
prior
fiscal
year
and
now,
within
each
category,
the
governmental
activities
column,
revenues
increased
by
210
million,
driven
by
recognition
of
coronavirus,
Relief,
Fund
and
American
Rescue
plan,
Grant
revenues
and
growth
in
property
taxes,
sales
taxes,
Hotel
taxes
and
real
property
transfer.
AF
Tax
collections,
total
expenses
decreased
by
194
million,
primarily
due
to
lower
pension
and
opeb
recognized
expenses
and
within
the
business
type
activities.
Column
revenues
increased
by
150
million,
driven
by
positive
growth
in
the
airport,
Regional
Wastewater
facility
and
San
Jose
clean
energy
operating
revenues.
AF
AF
Foreign
on
the
next
slide,
I'll,
just
briefly
mention,
there's
a
number
of
upcoming
gasby
pronouncement.
This
slide
provides
the
significant
number
of
pending
Gatsby
pronouncements
to
be
reviewed
and
implemented
by
the
city
over
the
next
few
fiscal
years,
most
notably
gasby,
96
related
to
the
subscription-based
information
technology.
Arrangements
will
have
the
greatest
impact
on
the
city
resources
to
comply
with
these
standards.
Now
I'll
turn
the
presentation
over
back
to
Julia
to
cover
the
successor
agency's
audited,
financials.
V
Thank
you,
Rick.
Just
a
couple
of
slides
the
the
successor
agency
you
know
is,
will
be
going
away
in
2035
when
we,
the
bonds,
are
fully
paid.
So
you,
what
you
see
is
a
large
deficit
net
position,
that's
held
in
trust.
That's
approximately
one
point:
1
billion
178
million
dollars.
It
is
mainly
attributable
to
the
outstanding
2017
senior
and
subordinate
tax
allocation
bonds.
V
The
the
statement
of
changes
in
the
fiduciary
net
position,
the
additions
and
deletions
and
changes
were
consistent
with
prior
years
and
the
97
million
dollar
change
of
the
net
position
reduced
as
I
mentioned,
reduced
the
net
position
down
to
a
negative
1.178
billion.
So
with
that
I'll
turn
it
over
to
David.
AG
Thank
you,
Julia,
okay,
so,
as
Julia
mentioned
in
the
beginning
of
the
presentation,
there's
a
significant
number
of
deliverables
that
the
city
requires
what
you
have
before
you
today
is
the
city-wide
financial
statements,
the
akfer
and
the
successor
agency
to
the
Redevelopment
agency.
Those
are
the
two
primary
reports.
The
first
thing
I
want
to
talk
about
was
the
opinion.
AG
The
opinion
is
what
accompanies
this,
this
the
act
for,
and
so
this
is
a
tremendous
document
that
the
city
produces
each
year
with
a
lot
of
information
in
it.
You
know
our
responsibility
is
to
express
an
opinion
on
whether
or
not
we
believe
the
information
is
fairly
presented
in
accordance
with
generally
accepted
accounting
principles
and,
and
so
there's
been
some
changes
to
how
we
present
our
audit
opinion
under
our
own
audit
standards,
and
so
it
looks
significantly
different
than
last
year
and
it
keeps
growing
as
most
things
do.
AG
So
it's
four
pages
long
and
the
first
section
talks
about
the
opinion
which
we
expressed
in
unmodified
opinion.
So
basically
that's
the
highest
level
of
assurance.
We
can
provide
as
your
Auditors.
In
addition
to
that,
we
give
you
some
understanding
of
what
the
basis
of
that
opinion
is.
You
know
what
types
of
audit
standards
we
follow
and
what
constitutes
generally
accept
the
accounting
principles.
AG
The
next
area
talks
about
emphasis
of
matters,
and
this
is
where
we
would
highlight
something:
that's
important
to
the
reader
to
understand
and
what
we
highlighted
this
year
was
that
there
was
an
implementation
of
a
new
standard,
the
leases
standard
which
I'll
talk
about
in
the
next
slide,
and
then
the
and
then
the
letter
goes
on
to
talk
about
our
responsibilities
and
Management's
responsibilities
and
other
things
that
you
should
be
aware
of.
AG
AG
You
know
if
there
were
any
significant
audit
findings
if
there
was
any
areas
of
estimates
or
other
areas
that
might
be
of
interest
to
the
reader
and
so
and
to
you
and
your
role
as
the
governing
body,
so
I'm
happy
to
report
that
there
are
no
negative
matters
to
report
this
year.
As
Julia
mentioned,
we
didn't
have
any
new
findings,
which
is
great.
I
will
say
that
the
the
single
audit
is
not
done,
the
federal
compliance,
audit
and,
and
typically
those
types
of
audits,
compliance
audits
tend
to
have
findings
in
them.
AG
AG
Oh
I'm,
sorry,
one
more
thing:
I
was
gonna.
I
was
just
gonna
talk
about
the
leases,
so
there
was
one
new
standard
that
was
required
to
be
implemented
this
year.
There
was
actually
five
standards
that
the
city
is
required
to
to
consider
in
terms
of
implementation,
but
really
only
one
of
them
stood
out,
and
that
was
the
leases
and
much
like
the
pension
standards
and
the
post-employment
health
care
benefits.
The
opeb
standards
changed
the
landscape
of
governmental
reporting,
bringing
on
some
significant
liabilities.
AG
Leases
in
other
areas
like
the
subscription-based
I.T
Arrangements
that
will
be
considered
next
year
are
doing
the
same
thing.
It's
bringing
on
to
the
financial
statements,
things
that
were
typically
just
disclosed
in
the
past
and
maybe
as
commitments,
maybe
as
potential
obligations,
but
but
these
are
more
of
trying
to
improve
the
transparency
of
financial
statements
and
actually
recording
these
things
where
it's
more
than
just
a
commitment,
but
it's
a
contractual
obligation.
AG
AG
Those
aren't
recorded
on
the
books,
because
they're
variable
and
there's
some
criteria
there,
that
has
to
be
determined
before
those
amounts
can
be
accounted
for,
and
so
so
those
are
disclosed
fully
in
the
financial
statements
and
so
there's
a
lot
of
disclosure
in
there
about
those
leases,
and
next
year,
as
Rick
mentioned,
gasby
96,
the
subscription-based
I.T
Arrangements
will
be
the
next
large
implementation.
With
that
I'll
turn
it
back
to
Julia.
V
So,
as
we
mentioned,
we
have
no
new
findings
for
the
first
time
in
12
years
and
we
really
do
attribute
those
to
some
very
proactive
things
that
we've
done
over,
especially
over
the
last
year
or
two.
We've
really
benefited
from
lower
staff
turnover,
which
is
really
important
because
the
longer
people
stay
with
us,
the
more
they
become
skilled
and
and
can
help
others
within
within
the
department
and
across
the
organization.
V
V
For
so
that
we
could
see
where
all
that
mapping
happened
as
we
put
together
this
year's
and
then
also
through
the
support
of
the
city
manager
and
the
city
council.
We
formed
the
finance
recovery
grants
team,
which
has
really
provided
subject
matter,
expertise
to
support
the
city
on
a
city-wide
basis
to
departments
with
grant
funding
and
a
lot
of
the
audit
findings
we
had
received
in
previous
years,
surrounded
various
grant
funding.
So
the
Staffing
and
implementation
of
that
team
has
been
really
key
to
us,
providing
the
necessary
financial
support
across
the
organization.
V
So
there's
just
a
summary
here
that
we
had
one
finding
last
year,
interior
controls
over
financial
reporting
and
as
David
mentioned,
it
has
been
reported
as
being
corrected.
So
the
recommendations
for
today
are
to
accept
the
three
reports
item
3.5,
which
is
the
annual
comprehensive
financial
report
3.6
the
report
to
those
charged
with
governance
and
9.1.
The
successor
agency
audited
financial
statements,
and
with
that
we're
available
to
answer
any
questions.
AB
Yes,
once
again,
the
city
will
pay.
I
want
my
reparations,
and
this
is
where
it
happens.
Okay,
you
go
ahead
and
listen
and
I
will
teach
you
where
the
racial
Equity
lens
is
most
applicable,
and
it
is
in
these
audits.
Okay,
I
didn't
hear
racial
Equity
one
time,
I
didn't
hear
it
as
a
measure
by
which
you
audit,
the
city,
okay
and
I
want
to
know
why
this
is
a
direct
question
to
the
people
that
conducted
these
audits.
Where
is
the
racial
Equity
office?
AB
You
guys
are
going
to
continue
to
calm
this
city
and
con
via
your
your
CBO
relationships
and
calm
the
city,
to
think
that
racial
Equity
is
actually
being
applied
or
we're
going
to
do
it
my
way
because
I'm,
the
one
that
forced
the
city
to
create
a
definition
to
begin
with,
in
which
the
City
attorney
the
City
attorney,
has
not.
AB
E
I
I
had
a
couple
I
I
celebrated
what
I
saw
on
page
nine
total
long-term
liabilities
decreased
by
999.5
million,
we'll
call
it
an
even
billion
it's
good
enough
for
government
primary
factors
leading
to
decrease
in
long-term
liabilities
for
government
activities
was
due
to
decrease
in
net
pension
liability
by
1.144
billion
and
the
net
opeb
liability
by
71
million.
E
So
that
was
all
very
happy
news.
I
then
read
a
couple
subsequent
sentences
and
realized,
of
course,
because
we
are
basing
this
on
historical
data
and
it's
a
year
back
and
our
returns.
That
was
a
good
year
in
the
market.
E
We
haven't.
He
said
to
how
much
we're
going
to
fall
back
in
a
bad
year.
I
know
we
have
five
year
smoothing,
but
how
sensitive
are
these
liabilities
numbers
to
these?
These
returns.
AF
Yes,
thank
you
for
the
question,
so
the
the
liability
as
presented
in
this
financial
report
is
as
of
the
measurement
date
of
June
30th
2021
So,
the
plan
assets,
as
of
that
date,
were
elevated
as
compared
to
where
they
are
now
and
when
we
come
back
and
report
next
year
with
the
June
23
audit
will
it
will
be
reflected
the
net
assets
and
those
plans
will
be
as
of
the
the
June
30th
2022
date
we
we
do
have
in
the
long-term
liability
section
in
the
notes.
AF
There
is
a
table
that
includes
the
figure
of
where
we
expect
the
liability
be
next
year.
It
was
significant
enough
we're
following
backwards.
We
it's
not
the
full
billion
that
we've
Fallen
back.
As
of
that,
we
expect
to
report
next
year,
but
it's
there
is
a
reduction
of
planned
assets
as
of
the
June
30th
2022.,
so
it'd
be
a
few
hundred.
E
That's:
okay!
No!
It's
all
right!
Okay!
Thank
you.
I
appreciate
that
the
explanation
is
obviously
some
significant
swings
just
given
that
the
challenge
that
we
have
managing
these,
these
very
large
funds
and
too
often
that's
a
tail
wagging.
The
dog
I
appreciate
all
the
work
that's
gone
on
in
this
and
particularly
getting
a
clean
report.
That's
it's
a
great
thing
for
the
city.
E
F
AD
B
I
E
F
F
B
L
B
F
I
E
V
I
am
and
I'm
going
to
have
chinyu's
son
who's,
our
deputy
director
over
debt
treasury
management
join
me,
so
we
also
distributed
a
hard
copy
of
this
report
to
you
last
week
as
well.
This
is
the
30.
V
This
is
the
30
first
time
that
we've
produced
this
report
for
the
mayor
and
city
council
I've
been
intimately
involved
in
all
31
copies
of
that
report,
being
an
initial
drafter
to
now
being
a
reviewer
and
approval
approver.
So
the
report
has
really
become
I.
Think
an
important
reporting
tool
for
the
city
council
in
our
community
and
the
municipal
bond
market
and
I
really
want
to
thank
the
mayor
and
city
council
and
the
city
manager
for
providing
leadership
over
policy
and
Direction
and
support
in
guiding
this
city.
V
Last
week,
as
you
recall
a
couple
weeks
ago,
you
approved
the
issuance
of
bonds
for
the
Wastewater
system,
so
on
Wednesday
last
week
we
opened
up
the
bond
sale
with
a
retail
order
period
and
it
was
the
very
successful
in
the
initial
order
period.
So
we
accelerated
the
institutional
sale
into
Wednesday
afternoon
to
take
advantage
of
a
favorable
Market.
The
market
can
be
a
little
term
a
little
unsteady.
V
V
B
B
V
Successful
Bond
sale,
the
interest
rate
that
we
assumed
was
a
4.345
that
was
in
the
staff
report,
and
we
ended
up
with
a
4.036
so
better
than
expected.
In
the
end,
we
had
three
AAA
ratings.
They
were
our
first
green
Bond
climate
certified
bonds
and
we
believe
that
that
helped
contribute
to
being
well
received
and
we
were
producing
a
more
detailed
information
memo
for
the
city
council
in
the
next
week
or
so
so,
obviously
we're
very
pleased
about
that
Bond
sale
going
as
well
as
it
did
so.
V
AE
So,
as
of
June
30
2022,
the
city
has
a
total
about
4.6
billion
debt,
outstanding
of
that
4.6
billion
300,
790
million
dollars
or
four
can
do
it-
that
for
housing,
revenue,
bonds,
the
rest
3.9
billion
are
demonstrated
in
this
pie,
chart
showing
on
the
slides
and
those
those
bonds
or
short-term
notes
were
issued
by
the
city
and
the
related
agencies,
including
Sarah
airport
Wastewater
facilities,
land,
secure
financing
and
and
the
financing
Authority.
Part
of
that
also
is
the
city.
It's
Geo
bounce
for
debt
issuance
in
2122.
AE
We
is,
we
issued
a
total
of
877
million
in
new
debt.
The
stat
issuance
includes
untrans
Geo
bonds,
lease
revenue
bonds,
both
refunding
and
new
money.
We
also
issued
some
commercial
paper,
backed
by
by
leases
and
subordinate
Wastewater
notes
for
regional
Wastewater
facility
and
also
multi-housing
house
multi-family
housing,
Revenue
obligations,
we're
also
planning
just
for
20
physical
2223
is
almost
done.
We
have
complete
some
of
the
tests
on
the
list.
AE
We
had
planned
about
621
million
debt
issues
for
22.23,
271,
75,
milliamp
of
trans
and
then
the
Wastewater
Revenue
knows
of
300
million
have
already
have
also
almost
been
completed.
We're
planning
for
additional
lease
Revenue
commercial
paper
issues
about
40
million
dollars
and
then
an
additional
six
four
six
point:
four
million
for
flood
recovery
project.
AE
B
AE
The
city
operates
about
four
variable
rate
programs,
including
airport
CP
notes,
the
city,
financing,
Authority,
CP
notes
and
then
the
revolving
credit
short-term
subordinates
for
the
regional,
Wastewater
and
clean
energy
credit
facility
in
total.
Those
are
variable
rate
programs
are
are
about
615
million
dollars
as
of
June
30
2022.
We
have
about
348
million
dollar
in
outstanding
their
variable
rate
programming,
because
the
interest
rate
on
these
programs
are
adjustable
to
some
short-term
variable
benchmarks,
such
as
Libor
sulfur,
depending
on
the
the
agreements
with
the
bank.
AE
We
have
talked
about
some
of
the
project
completely
completed
some
of
the
including
bound
issuance.
Additionally,
we
also
extended
the
letter,
credit
for
airport
and
then
financing
Authority,
and
we
had
made
some
made.
Some
programs
in
the
pension
obligation
bump
inside
and
the
city
council
authorized
issued
the
bonds
issuance
to
refund
certain
pension
obligations.
AE
The
city
filed
a
complaint
for
validation
in
November
21st,
and
we
actually
received
some
tentative
decision
from
the
Court
Santa
Clara
County
Court
just
recently,
and
we
also
issued
a
request
for
qualification
proposal
for
the
underwriter
pools
and
we
selected
underwriter
pools
for
the
regional
Wastewater
facility
bonds
and
for
that's
the
two
recent
2022
Bond
and
we
also
had
a
underwriter
pool
for
the
least
revenue
bonds
issued
earlier
in
the
year.
That's
a
2020
to
a
bounce.
AE
The
trends
funding
also
required
us
to
have
a
to
requests
for
embankment
commitments.
That
was
a
completely
earlier
in
in
the
in
the
fiscal
year.
We
also
redeemed
a
special
assessment,
balancer
series,
24
q
and
special
Taxman
cfd
number
one
foreign.
AE
Five
tephra
hearings,
four
of
them,
are
held
by
a
financial
department
on
behalf
of
the
on
behalf
of
the
city
council,
Vitalia
and
ameriposa
were
issued
in
on
January
28
2022,
the
other
two
projects,
mckeevoy
and
Al
Garvey
returned
to
their
City
allocation
because
the
cost
increased
and
then
lack
of
investors.
Interest
in
those
projects.
The
city
council
held
another
type
of
hearing
for
425,
also
rias
apartments
in
August,
and
the
bound
was
actually
issued
by
an
external
agency.
California
Municipal
financing
Authority
in
October
2021.
AE
Foreign
s
of
the
city
is
very
highly
rated.
We
actually
issued
about
200
million
dollar
Geo
bonds
into
fiscal
year.
2122.
The
bonds
are
rated
double
a
one
double
a
pleasant
and
Triple
A
from
Moody's
SMP
and
then
Fitch
respectively.
Our
bond
rating
are
on
par
with
the
county
of
Santa
Clara
Bond
rating
and
a
slightly
higher
than
the
state
rating.
AE
Nationwide,
looking
at
our
G
Mobile
rating,
we're
very
high
on
the
list,
so
this
is
the
look
of
the
10
largest
cities
of
geodet
rating.
As
you
can
see,
the
city
of
San
Jose
is
ranked
number
two
and
on
the
same,
at
the
same
level
as
the
City
of
Phoenix
foreign,
our
other
dad,
including
this
Revenue
debt
and
then
some
Enterprise
funded,
are
rated
slightly
differently.
The
least
Revenue
debt
has
all
mostly
double
a
rating
if
the
least
Revenue
debt
are
based
on
essential
assets.
AE
The
rate
ratings
for
those
that
by
fiction
movies,
are
slightly
higher
than
the
assets
that
are
that
that
are
less
essential.
The
airport
bounds
are
in
the
a
category
a2a
and
a2a,
and
a
for
the
from
the
other
two
agencies,
and
then
the
sixera
bonds
are
rated
double
a
category.
The
senior
data
are
not
higher
than
the
subordinate
debt,
the
race,
the
regional
Wastewater
and
that
are
AAA,
as
we
just
recently
issued.
AE
So,
as
I
mentioned
earlier,
some
of
the
project
for
2223,
we
have
a
completed
it,
including
275
million
in
Trend.
We
also
redeemed
a
cfd
number
6
and
10
special
tax
month
in
September,
the
issuance
of
Wastewater
revenue.
Balance
of
300
million
is
about
to
close
next
week
and
we
are
diligently
to
finishing
up
the
San
Jose
Clean
Energy
Credit
facility
of
225
million
dollars
going
looking
out
for
the
rest
of
the
year.
AE
We
are
going
to
we're,
anticipating
issuing
about
40
million
in
commercial
paper,
to
support
the
Water,
Resource
administrative
Administration
and
operation
and
another
6.4
million
for
the
flood
recovery
project.
The
mo
we
had
just
recently
got
a
notice
from
the
housing
department
regarding
the
multi-housing
project,
including
tamian,
the
child's
1860
alarm,
Rock
and
777
West
stand
close.
All
these
four
projects
have
well
received
a
city
like
allocation,
we'll
be
working
on
the
issuance
of
those
multi-housing
revenue
bonds
in
January
2023.
AE
V
We
work
really
hard
in
maintaining
a
strong
and
dedicated
debt
management
program
that
helps
protect
the
city's
Financial
interests,
our
credit
ratings
and
the
long-term
management
of
debt.
Compliance
to
minimize
any
Financial
penalties.
V
Compliance
with
all
those
regulatory
requirements
is
really
important,
because
if
we
don't,
they
can
result
in
significant
penalties.
So
with
that,
our
recommendation
is
for
you
to
accept
the
report
and
we're
available
to
answer
any
questions.
AB
Also
from
the
Horseshoe
thank
you
for
reaching
the
house,
I
was
trying
to
give
the
major
education
on
how
racial
Equity
needs
to
be
applied
with
respect
to
bonds,
but
no
I'm
I'm
rudely
interrupted
so
anyway.
Let
me
continue
is
that
racial
Equity
office
needs
to
be
here
because
of
these
housing
bonds,
any
kind
of
bug.
Why?
Because
the
profiteering
that
occurred
generationally,
this
city
is
sitting
on
assets
that
was
created
by
the
undemocratic
process
of
redlining
redlining
is
not
Democratic.
AB
There
was
no
Chicanos
that
participated
in
that,
yet
our
labor
was
exploited
you're,
going
to
continue
to
hear
this
in
the
until
the
day
that
I'm
six
feet
under
at
Oak
Hill.
Until
that
day,
you're
going
to
continue
hearing
this,
this
city
owes
me
and
what
we're
going
to
do
now.
This
is
what
we're
going
to
do.
AB
AB
N
Hi
Brad
Beekman
here
thanks
for
the
words
of
Paul
Soto.
In
the
very
least,
he
talked
about
creative
ways
to
talk
about
the
future
of
possible
bonds
that
I
thought
can
be
needed
and
useful
to
this
process.
So
thank
you
for
myself
for
this
item
and
I
guess,
for
these
set
of
items.
I
just
wanted
to
offer
a
quick
reminder
that
we
boy
this
past
year
and
into
the
next
2023.
N
We
have
had
kind
of
some
difficult
worries
and
a
lot
of
considerations
and
it's
been
tough
to
try
to
navigate
and
forecast
and
but
yet
I
think
on
the
horizon
in
2024
and
25.
We
all
see
a
really
hopeful
good
future
for
ourselves
about
how
to
go
about
our
city,
government
and
Community
programs
and
projects
and
I.
N
Think
if
we
just
stick
to
in
2023
really
good
practices
and
ideas
and
standards
and
listen
to
each
other
along
the
way,
really
well
I
I,
that's
how
you
set
up
a
really
good,
2024
and
25
for
ourselves.
That
is
there
waiting
for
us.
We
just
I
just
hope.
We
follow
the
really
good
steps
to
get
to
that
really
good
place
and
I
think
it's
a
time
that
can
be
open
for
everyone
more
open
to
for
for
decision
making
of
good
things.
Thanks
a
lot.
E
Well,
folks
are
thanking
them.
I
I,
just
had
two
one
relates
to
variable
rate.
Dad
I
was
looking
at
that
section
and
grateful
to
see.
We
have
no
outstanding
variable
rate
bonds
and
I
know.
We've
done
a
lot
of
refinancing
in
the
good
times,
with
the
with
low
interest
rates,
I
see
615
million
dollars
authorized
and
there's
a
credit
of
various
kinds.
That
assume
is
all
variable
rate
and
do
we
have
a
sense
of
that
650
million?
V
So
a
majority
of
that
348
million
that's
outstanding
is
the
236
million
dollars
associated
with
the
regional
Wastewater
facility.
The
short-term
subordinate
note
right
that
is
actually
refunded
with
the
bonds
that
we
will
be
closing
next
week.
Great.
AH
V
That
number
in
March
will
go
to
zero
they'll
sit
in
an
escrow
account
for
90
days,
we're
doing
a
little
bit
of
a
of
a
mathematical
Arbitrage
play
by
letting
it
sit
in
an
account
for
90
days,
we'll
be
able
to
earn
interest
around
seven.
Eight
hundred
that,
like
how
much
is
it.
V
So
it's
kind
of
like
free
money,
so
that
number
will
then
go
down
to
zero
right
and
then
what
happens
is
the
way
we
have
the
program
working
with
the
regional
Wastewater
facility
as
they
do
projects
they'll
build
back
up
and
issue
against
those
subordinate
notes
once
it
hits
around
300
million
dollars
again,
they'll
pay
it
off
with
long-term
bonds,
and
so
we
have
found
that
that
process
of
doing
that
is
kind
of
think
of
it
as
construction.
Borrowing
that
you
would
see
in
the
corporate
Market.
We
have
found
that
that
works
well.
V
For
these
large
multi-year
projects,
like
at
the
regional
Wastewater
facility
and
much
like
we
did
with
the
airport
and
their
commercial
paper
program,
and
then
the
airport
has
a
little
bit
they
have.
You
know
they
have
about
34
million
dollars
of
their
75
million
outstanding,
and
then
we
have
of
the
city
of
San
Jose
financing
Authority.
We
have
175
million
dollars
authorized,
but
only
66
million
is
outstanding.
V
A
large
portion
of
that
is
attributable
to
the
borrowing
for
the
clean
energy
department
and
we're
working
with
them
as
their
cash
flow
increases
and
their
cash
balances
increases
determine
when
they're
going
to
pay
that
back.
So
staff
may
look
at
bringing
down
that
facility
Mount
over
time,
just
based
on
what
we
need.
The
commercial
paper
program
for
the
city
has
been
in
place
since
2004,
and
it's
had
a
history
of
kind
of
the
capacity
being
up
and
down
based
on
what
we
think
our
short-term
borrowing
will
be.
V
The
council
will
see,
in
the
springtime
authorization
for
about
40
million
of
commercial
paper,
notes
again
to
be
a
bridge
financing
before
we
issue
long-term
bonds
for
the
facility
for
the
Municipal,
Water
Department,
so
that's
kind
of,
and
then
the
Barclays
facility
is
to
help
with
the
the
clean
energy
program.
So
so
it's
a
bit
There's
real
thought
and
thinking
about
strategically
being
in
this
variable
rate
market,
for
these
particular
needs
all.
E
V
Yes,
there
is
the
employee
parking
garage
across
the
street
is
is
eligible
in
the
early
part
of
next
year.
The
thinking
is,
is
that
will
be
done
in
conjunction
with
the
long-term
Finance
dancing
for
the
Municipal
Water
Administration
facility,
because
they're,
both
relatively
small,
so
they
get
done
together.
There's
some
economies
of
scale.
V
The
airport
has
A
refunding
that
is
eligible
in
the
first
quarter
of
calendar
year
24..
It
can
be
done
90
days
in
advance
of
that,
so
that
would
be
late,
23
early
24
and
then
the
next
big
one,
that's
really
really
eligible,
wouldn't
be
until
27
for
the
successor
agency.
So.
D
V
E
F
F
E
All
right,
5.1
are
the
actions
related
to
the
airport
accessibility
upgrades
phase,
three,
the
re-bit
of
the
project.
There's
no
presentation
but
I,
see
Matt
here
ready
to
answer
questions
everyone's
got
him.
Let's
go
to
the
public.
A
M
Yeah,
thank
you.
Just
had
a
question
for
Matt
I
was
reading
through
a
report,
and
it
was,
it
seems
like
we,
we
went
out
to
bed
didn't
like
the
numbers
went
out
to
bid
again
and
we
ended
up
with
the
same
firm.
Essentially
one
of
the
same
firms
submitting
and
that's
who
eventually
got
it.
I
was
a
little
confused
because
it
seems
like
in
the
first
round
of
bids
that
went
out.
It
was
I,
think
a
hundred
percent
over
the
engineering's
estimate,
and
then
they
came
the
second
bit
it
was.
M
It
was
about
50
something
percent
of
the
engineering's
estimate,
but
it
seems
like
we.
We
increased
the.
M
AI
AI
I
think
we've
kind
of
been
in
a
way
chasing
the
market
on
on
how
much
this
costs
it's
it's
complicated
to
work
inside
the
airport
terminal,
which
is
part
of
the
reason,
I
think
our
it's
been
difficult
for
contractor,
can't
just
come
in
one
day
and
then
do
the
work
and
then
be
gone
and
there's
a
lot
of
coordination,
a
lot
of
stops
and
startings
on
this
project,
and
so
as
on
the
latest
bid.
As
you
noticed,
it
was
significantly
over
our
Engineers
estimate.
AI
After
evaluating
that
and
as
noted
in
our
memo,
we
we
feel
that
it's
prudent
and
John
can
help
me
here
too,
to
move
forward
for
a
couple
reasons.
One
is
because,
after
reevaluating,
what
the
market
will
bear
the
pro
the
fact
that
this
project
is
a
complicated
environment
to
work
in,
we
feel
the
engineers
of
estimate
should
have
been
higher
that
went
out
to
Bid
And.
AI
That
makes
it
prudent
for
us
to
recommend
Award
of
this
project
and
there's
no
guarantee
that
sending
it
out
to
bid
again
would
get
a
lower
amount.
So
I
hope,
I
answered
your
question.
There.
M
Yeah
yeah
you
did,
and
so
the
first
bid
there
was
two
folks
that
submitted.
Actually
one
was
unresponsive.
I
think
is.
B
M
AI
Thank
you
for
the
question.
It
is
possible.
We
could
get
different
results.
We
think
we
may
get
lower
bids.
However,
there's
no
guarantee
we
would
get
lower
bids,
and
if
we
did
it's
likely
we
would
lose
the
10
million
dollar
Grant
because
of
the
timeline.
Okay,
all.
M
M
AI
Thank
you
for
that
question.
Councilmember,
yes,
and
no.
It
depends
on
the
industry,
there's
a
supply
chain
and
Logistics,
as
everybody
knows,
worldwide,
with
various
different
types
of
equipment
and
materials.
There's
certain
industries
and
certain
types
of
projects
where,
where
the
supply
chain
is
a
lot
more
difficult
and
a
lot
more
impactful
on
this
project,
one
of
them.
T
F
E
E
So
I
recommend
we
Forge
ahead
fearlessly
because
we
have
just
two
items:
6.1
and
8.1
and
then
theoretically
no
items
until
six,
but
that
would
mean
that
two
things
one
is:
we
have
to
put
off
lunch
for
maybe
five
or
ten
minutes-
and
secondly,
is
vice
mayor
mentioned
to
me:
don't
put
your
fingers
anywhere
in
there
Vice
mayor's
face?
Apparently,
that's
yes!
E
B
E
H
E
E
A
A
A
B
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
B
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
B
B
B
A
A
A
A
B
B
A
A
E
E
E
Welcome
back
everybody
we'll
call
the
meeting
resume
the
meeting
for
the
afternoon
December
6th.
Let's
go
to
roll
first.
F
M
G
E
F
E
E
Right,
thank
you
all
right.
We're
going
to
start
this
afternoon
session
with
an
invocation
provided
by
Pastor
Danny
Sanchez
of
the
city
peace
project
I've
been
honored
to
know
Pastor
Danny
for
oh
more
than
a
decade
since
my
days
as
a
council
member,
and
he
was
serving
many
young
people
in
the
Washington
Guadalupe
neighborhood,
now
really
focus
predominantly
on
on
teens
and
in
East,
San,
Jose
and
I.
E
Don't
know
anybody
who
has
a
bigger
heart
for
our
community
than
Pastor
Danny
he's
a
San
Jose
Native
Community
leader
founding
executive
director
of
the
CE
peace
project,
he's
also
the
author
of
A
Memoir,
entitled
post-traumatic
quest,
which
details
his
own
troubled
past
and
his
journey
to
become
a
role
model
for
young
people
here
in
our
community.
The
city
peace
project
addresses
youth,
violence
and
Trauma
and
aims
to
empower
our
youth
through
personal
mentorships,
so
they
can
Thrive
it's
in
three
school
districts
across
the
county
in
25
schools.
E
E
His
social
justice
efforts
led
to
work
government
agencies
such
as
Department
of
Justice
here
in
the
United
States,
and
the
ministry
of
innovation,
Science
and
Technology
a
Jalisco
Mexico,
and
he
has
created
the
volunteer
crisis
response
chaplaincy
program
in
Silicon,
Valley
I.
Don't
know
how
you
sleep,
Pastor
Danny,
but
we're
grateful
that
you
are
here
and
grateful
for
all
the
work.
You
do
welcome.
AJ
What
is
the
city
peace
project
we're
so
glad?
You
asked
the
city
peace
project
is
an
organization
based
in
San
Jose,
that
is
all
about
inspiring
youth
to
live
lives
marked
by
active
love
and
peace.
We
believe
in
pouring
into
our
community
helping
each
other
to
go
after
our
goals,
loving
one
another
and
having
a
lot
of
fun
along
the
journey.
Every
day
we
are
seeing
the
lives
of
students
transformed
through
our
mentoring,
that
addresses
conflict
resolution,
gang
prevention
and
social
and
emotional
health.
AJ
We've
seen
that
students
who
are
caught
in
a
cycle
of
depression
and
anxiety
are
introduced
to
a
life
of
Hope,
joy
and
peace.
We're
also
invested
in
supporting
low-income
families
with
resources
such
as
rent
food
and
clothing.
We've
had
the
blessing
of
Hosting
Bible
studies
among
many
of
these
families
who
are
eager
to
know
the
source
of
our
love
Jesus.
K
Council,
member
Perales,
council,
member
Carrasco,
council,
member
Esparza
and
council
member
arenas
for
serving
our
city.
Thank
you
for
putting
your
heart
into
it.
We
appreciate
it
I
pray
for
all
of
your
future
endeavors
that
they
would
be
blessed
as
we
gather
together
in
this
holiday
season,
with
our
family
and
friends
to
spend
time
together.
K
K
He
did
not
come
for
the
powerful
and
the
privileged,
but
the
poor
in
the
persecuted.
He
was
for
the
people,
this
Christmas
and
beyond
help
us
to
live
Grateful
joyfully
together,
loving
and
helping
others
as
the
people.
Let
us
pray,
Heavenly
Father.
We
come
together
and
pray
for
our
city
for
peace,
for
charity
and
for
stability,
I
pray
for
our
mayor,
our
mayor-elect
for
all
elected
and
appointed
officials
that
they
would
lead
with
compassion
and
love.
K
I
am
asking
that
you
would
graciously
grant
them
wisdom
to
govern
in
even
in
the
middle
of
conflicting
interest
in
issues
of
our
times.
Might
they
be
committed
to
work
together
through
their
differences
with
a
sense
of
welfare
meeting
to
tune
either
the
people
let
them
serve
with
compassion
Lord?
In
addition
to
our
leaders,
we
thank
you
for
the
great
people
that
live
in
the
city,
with
over
a
million
people
of
every
race,
Creed
and
color.
We
ask
for
your
complete
continued
blessings
as
Citizens
representing
this
great
City.
K
We
know
that
we
must
continue
to
create
an
atmosphere
of
Peace
for
our
children
and
harmony
for
generations
to
come.
Might
we
commit
to
love
our
neighbors?
Even
if
you
have
loved
us?
We
know
that
you
can
do
this
because
the
Holy
Scripture
reminds
us
that
blessed
are
the
peacemakers
make
us
your
peacemakers,
O
Lord.
We
cry
out
together
for
continued
peace
in
the
city
that
we
withstand
United
to
impact
this
community
for
the
greater
good.
K
We
know
that
true
peace
in
our
city
depends
on
how
those
of
us
in
this
diverse
Metropolis
will
choose
to
labor
together,
learn
together
and
live
together
from
the
offices
of
City
Hall
to
the
streets
of
our
Inner
City,
from
the
great
glory
of
the
Silicon
Valley
to
the
corners
of
every
neighborhood,
from
The
Pinnacles
of
technology
and
Innovation
to
the
hallways
and
classrooms
of
every
school.
We
know
there's
still
work
to
be
done.
K
So
might
we
continue
to
ease
the
pain
of
the
poor,
the
unhoused,
the
Hopeless,
the
exploited,
the
children
that
are
lost
and
hurting?
We
never
want
our
Great
accomplishments
to
remove
us
from
their
pain.
We
remember
them
and
promise
to
work
together
on
their
behalf.
God
bless
our
City
San
Jose
in
Jesus
name,
amen,.
E
E
J
As
some
of
you
might
know,
we
established
this
task
force
in
2018
because
we
felt
that
there
was
a
gap
in
providing
a
forum
for
small
businesses
to
communicate
their
concerns,
their
wants
and
also
their
desires.
This
was
important
to
me
because
small
businesses
make
up
over
96
of
all
businesses
in
San
Jose.
J
They
are
a
large
source
of
the
economic
and
cultural
vibrancy
of
our
city.
This
task
force
is
made
up
of
minority
Chambers
business
associations
and
the
San
Jose
Chamber
of
Commerce
I
am
proud
today
to
recognize
their
efforts.
Dedication,
diligence
in
supporting
small
minority-owned,
local
businesses
and
sales
a
and
ensuring
that
their
voices
were
heard.
J
They
also
provide
a
forum
for
small
businesses
to
communicate
their
challenges,
such
as
potential
displacement,
the
Berryessa
Flea
Market,
Cali,
Willow,
VTA,
Bart,
Etc
I'm
pleased
to
share
that
an
effort
to
recognize
and
continue
their
invaluable
work.
We
are
currently
working
with
OED
to
transition
the
task
force
into
a
new
standing
committee,
the
small
business
advisory
committee
that
will
be
supported
by
OED.
AH
There
was
a
time
when
the
city
of
San
Jose
had
a
small
business
development
commission
and
that
went
away,
and
then
city
council
member
recognized
the
value
and
importance
the
significance
of
having
some
place
to
go
for
businesses,
business
owners
when
they've
got
concerns
and
complaints,
and
as
such,
he
then,
on
his
own
initiative,
created
the
small
business
advisory
task
force
and
invited
local
business
Advocates
from
throughout
the
city
to
participate.
The
ethnic
Chambers
Hispanic
Vietnamese,
Chinese,
filipino-american,
Black
Chamber,
the
rainbow
chamber,
local
neighborhood
business
associations
like
The
Wiz,.
AH
Business
Association,
we
immediately
saw
the
value
of
what
now
the
vice
mayor
talked
about
in
terms
of
building
Community
about
being
that
force
that
advocacy
for
the
small
businesses,
especially
those
who
felt
voiceless,
and
so
in
that
Spirit
we
were
very
quick
to
embrace
what
he
what
his
vision
was.
We
appreciated
your
gumption
for
sticking
through
it,
and
so
for
now,
over
five
years,
we've
been
meeting
monthly
to
hear
the
concerns.
AH
Complaints
of
small
businesses
throughout
the
city
and
Beyond
we've
been
able
to
address
issues,
as
you
pointed
out,
some
have
become
law
some
and
for
the
State
of
California.
We
also
had
a
great
opportunity
to
promote
the
successes,
the
programs
that
the
city
of
San
Jose
was
doing
on
behalf
of
small
businesses,
so
overall
I
think
we
were,
we
were
very
busy
I
think
we
were
very
effective.
The
future
is,
has
lots
of
question
marks
right
now,
but
we're
optimistic
in
terms
of
our
experience,
because
we
know
how
well
we've
worked
together.
AH
We
know
how
much
the
city
needs
that
voice
of
the
small
businesses
and
and
that
Spirit.
We
certainly
salute
the
vice
mayor
for
your
assumption.
For
for
for
making
this
happen
and
if
we're
the
image
of
the
commission,
more
importantly,
we
were
the
mirror
image
of
the
city
of
San
Jose.
So
thank
you.
Thank
you.
Oh
my
God.
E
E
The
krty
team
is
here
I'm
going
to
ask
them
to
please
come
down
and
councilmember
prowess
will
be
saying
a
few
words.
T
T
They
have
annually
brought
over
25
live
country
shows
to
the
rodeo
club
that
was
formerly
in
District
3
in
just
outside
of
downtown
San
Jose,
where
members
of
our
community
are
able
to
experience
up-and-coming
artists,
along
with
established
country,
artists
for
an
affordable
price.
While
on
air
krty
was
the
number
one
country
station
in
the
Bay
Area
for
over
25
years
and
the
number
one
country
station
in
the
United
States.
Earlier
this
year,
krty
concluded
service
at
95.3
FM
and
made
the
Bold
Progressive
switch
over
to
a
fully
streaming
service
at
krty.com.
T
Having
myself
been
a
listener
for
over
20
years
at
krty,
I
can
say
it
has
continually
brought
forward
the
best
of
country
music,
and
it
continues
to
do
so
today
and
I'm
proud
to
say
that,
even
with
this
switch
and
now
being
an
international,
an
international
organization,
they
continue
to
focus
on
serving
the
city
of
San
Jose
and
the
South
Bay,
and
they
continue
to
bring
amazing
shows
right
here
to
the
rodeo
Club
and
now
I,
along
with
my
Council
colleagues,
and
our
mayor
would
like
to
present
this
Commendation
to
krty
for
over
25
years
of
bringing
the
best
of
country,
music
and
artists
to
our
city
and
I'd
like
to
invite
up
the
GM
Nate
Deaton.
T
AK
You
thank
you.
It's
it's
in
the
true
Spirit
of
the
entrepreneurial
Spirit
of
San
Jose
and
the
local
market
that
we
are
doing
something
no
one's
ever
done
before,
which
is
streaming
a
terrestrial
radio
station
that
was
once
under
frequency,
now
live
on
the
internet
and
it's
been
remarkably
successful.
Speaking
of
our
shows,
we
do
have
a
show
Friday
night
at
the
rodeo
Club,
and
it
just
occurred
to
me
as
I
was
sitting
here
and
I.
AK
Thank
you
once
again
for
this
amazing
award,
all
of
our
employees,
Susan
Pourri
of
Tina,
Ferguson,
Albright
and
Michael
Moore,
Julie,
Stevens
I,
think
I
missed
one,
but
that's
okay,
Nicole
Woodson
there
we
go
are
all
members
of
this
community
and
are
very
appreciative
of
this
Council
chamber
and
the
city
that
we've
all
made
our
living
in.
For
the
last
30
some
odd
years,
thank
you,
foreign.
E
All
right,
we
have
two
items
on
the
afternoon
agenda
before
we
break
for
the
evening
agenda.
So,
let's
start
with
item
6.1
power
rates,
service
options
and
financial
reserve
policy.
AM
Mayor
this
is
Magdalena
and
I
have
an
adjournment.
E
Oh
my
gosh
you're.
Absolutely
right!
Please
forgive
me
councilmember
Carrasco!
Let
me
go
there.
I'm!
Sorry,
we're
just
out
of
order
today.
So
I'll
be
catching
up.
We
have
foreign.
E
Oh,
thank
you
all
right,
so
councilmember
Carrasco.
Thank
you
for
reminding
me.
The
meeting
will
be
adjourned
in
honor
of
Mary
Jimenez
fieres,
who
is
an
East,
San,
Jose
resident
and
part
of
the
Rosie
riveters.
That's
called
troll
icon,
World
War
II,
representing
many
women
who
helped
to
save
and
support
our
country.
In
such
a
challenging
moment
of
World
War
II
there
she
is
pictured
councilmember
crosco,
please.
Thank
you.
Thank.
AM
You
thank
you
mayor,
but
this
is
a
wonderful
opportunity
to
recognize
one
of
our
very
own
heroes
in
the
city
of
San
Jose,
we're
all
familiar
with
the
Rosie,
the
Riveter
image,
a
cultural
icon
of
the
World
War
II,
representing
the
brave
women
who
worked
in
factories
and
in
shipyards.
AM
I
I,
don't
think
these.
These
women
ever
went
out
to
make
this
kind
of
impact,
but
the
impact
that
they've
made
especially
on
women
transcends
time
and
place.
Many
of
us
often
channel
the
power
pose
dressing
up
as
them
with
the
iconic
bandana
rolled
up
jeans
and
a
fist
held
high
in
the
sky.
Their
service
was
invaluable
in
getting
us
through
the
war
and
it's
with
a
heavy
heart,
a
great
deal
of
love
and
deep
respect
that
we
adjourn.
AM
Today's
council
meeting
in
honor
of
Thea
Mary
fierros
San
Jose's
very
own
Rosie,
the
Riveter
Rosie
was
born
I'm.
Sorry
Mary
was
born
on
April
20th
1920
in
Delta,
Utah
Mary
pharaohs
lived
a
long
and
fulfilling
life
and
in
1925
her
family
moved
to
tahima
California,
and
it
was
in
the
third
grade
that
she
would
meet
her
future
husband,
Mike
Fieros.
AM
What
I
admire
most
about
the
women
of
this
era
is
is
not
just
the
influence
that
they've
had
on
us
over
the
over
time,
but
really
there
was
a
pivotal
moment
where
these
women
were
leaving
the
kitchen
and
child
rearing
and
entering
the
workforce,
revolutionizing
social,
economic
relations
for
our
nation.
These
women
opened
up
paths
to
today's
modern
woman.
AM
They
questioned
gender
roles,
they
challenged
the
oppression
of
women
and
children
and
they
made
decisions
to
live
a
life
with
intention.
AM
Mary
eventually
settled
in
East
Side,
District
Five,
specifically
adding
to
the
incredible
history
of
our
district
and
our
city.
Funny
enough
and
Mary's
nephew
Richie
who's
there
in
the
picture
was
classmates.
With
my
very
own
son
Diego,
so
we
had
this
long
distance
connection.
But
what
what
cost
me
a
great
would
cause
me
to
to
listen
up
was
one
day
while
I
was
serving
in
this
role.
AM
She
was
introduced
as
Rosie
the
Riveter,
and
it
was
shared
that
at
that
Cal
Berkeley
had
written
a
story
and
put
her
story
in
a
museum
in
Berkeley.
What
was
shocking
about
it
is
that
we
had
never
recognized
her
in
her
own
city
of
San
Jose.
Two
years
ago,
a
group
of
friends
from
the
spirit
of
45
committee,
which
stages
stages,
commemorations
of
the
end
of
World
War
II
at
history
park
in
San
Jose
arranged
a
beautiful
parade
to
pass
in
front
of
her
house.
AM
The
Caravan
included
a
dozen
World
War
II,
two
era
vehicles
and
the
artist's
seaward
Johnson's
500
pound
Rosy,
the
Riveter
sculpture.
On
the
back
of
a
truck.
It
was
an
amazing
moment
to
join
our
also
then
Chief,
Eddie
Garcia
and
San
Jose
Fire
Department
in
in
honoring.
AM
AL
On
behalf
of
our
entire
family
and
my
aunt
Mary,
thank
you
so
much
for
the
special
recognition.
We
are
so
proud
of
all
that
she's
accomplished
in
her
102
years.
She
was
a
proud
Latina
woman
who
worked
hard
for
the
unions
and
for
the
country
as
Rosie
the
Riveter
I
know
she
would
be
so
honored
and
we
are.
We
are
so
honored
to
call
her
art,
Dia
Mary.
Thank
you
again
for
the
special
recognition
and
she
will
and
is
deeply
missed.
E
Thank
you,
councilmember
Carrasco,
all
right.
We
do
have
a
closed
session
report.
Okay,
let's
go
to
closed
session
report.
L
E
AN
AN
So
as
background
in
the
past,
we
have
always
set
our
rates
as
a
fixed
percentage
of
PG
E's
rates.
There
are
many
benefits
to
this
in
starting
up
our
operations.
It
allowed
us
to
really
start
up
quickly
and
it
was
very
easy
for
our
customers
to
understand
rates
under
a
new
service
provider
as
well
as
established
customer
confidence,
but
there
have
been
many
challenges
with
this
type
of
rate
structure.
AN
As
PG
E's
rates
have
risen
and
Fallen
our
rates
have
had
to
change
with
them,
which
happens
several
times
throughout
the
year
and
then
probably
the
most
significant
challenge
has
been
the
added
fees
in
relation
to
the
pcia.
So
as
that,
pcia
has
risen.
That
has
limited
our
ability
to
set
rates
that
fully
recover
our
costs
and
limits
our
ability
to
build
Reserves.
AN
So
this
year
we
set
some
rate
setting
goals
coming
off
of
the
recommendations
that
Deloitte
provided
us
last
year.
So
the
first
goal
is
to
make
sure
we
offer
competitive
and
stable
rates
over
the
long
term
and
that
we
use
a
cost
of
service
model
to
set
those
rates
and
in
that
cost
of
service
model,
that
we
build
our
reserves
to
at
least
180
days
of
operating
expenses.
To
strengthen
our
financial
position.
AN
AN
Then
the
next
steps
are
to
allocate
those
costs
among
customers
and
different
types
of
customers,
for
example,
residential
and
Commercial
customers
and
then
finally,
to
design
rates
to
recover
those
costs,
of
course,
in
a
competitive
environment,
it's
more
complicated
than
that.
Once
we
understand
what
our
costs
are
and
how
they're
allocated,
we
always
need
to
compare
those
rates
to
our
competition
and,
in
this
case,
PG
e
and
make
sure
what
we're
recommending
is
still
a
competitive
rate
in
the
market.
AN
AN
You
can
see
an
expected
case
a
better
and
a
worse
case
there,
and
then
we
took
all
of
our
fixed
costs
and
added
that
in
and
then
we
had
originally
told
the
consultant
to
build
our
Reserve
over
three
years,
which
resulted
in
needing
to
contribute
to
that
Reserve
about
66
million
a
year
to
come
up
with
our
total
revenue
requirement.
AN
And
once
we
completed
this
study,
then
we
did
the
next
step
in
the
process.
Is
we
looked
at
okay?
Well,
where
is
PG
e
rates
going
to
go?
And
then
importantly,
where
is
the
pcia
headed?
And
you
can
see
the
chart
here,
which
really
demonstrates
the
volatility
that
we've
been
dealing
with?
You
know
we
started
our
operations
back
in
2018
with
a
PCI
that
was
about
just
over
twenty
dollars,
a
megawatt
hour.
It
Rose
it
doubled
all
the
way
up
to
over
forty
dollars
a
megawatt
hour
in
2021,
which
very
negatively
impacted
our
revenues.
AN
AN
So
what
we're
recommending
is
that
we
go
ahead
and
build
our
Reserve
almost
all
of
the
way
in
one
year,
instead
of
doing
that
over
three
years,
because
we
do
have
the
opportunity
to
do
that
in
2023,
so
our
recommendation
is
to
set
our
rates
lower
again,
so
green
Source.
We
go
to
about
one
to
three
percent
lower
than
PG
e
for
most
customers,
but
important
to
note
these
would
be
cost
of
service
rates,
not
a
fixed
percentage.
AN
We
are
recommending
that
we
keep
the
renewable
content
at
60
percent
for
green
value.
That
product,
just
as
a
reminder,
was
priced
at
parity
with
PG
e.
We
are
recommending
to
discontinue
that
and
to
transition
those
costs,
those
customers,
the
green
source,
so
that
they
receive
the
discount
and
also
the
higher
renewable
energy
content.
AN
It's
important
to
note
that
we
will
still
keep
track
of
these
customers
in
the
event
that
we
need
to
bring
this
product
back
in
the
future,
so
that
we
could
automatically
enroll
them,
because
we
know
they
are
the
most
price
sensitive
for
total
green.
That
maintains
the
same
as
it
was
and
then
importantly,
for
SJ
cares.
We
are
recommending
that
we
increase
the
discount
from
five
percent
to
ten
percent
below
green
source
and
then
keep
that
renewable
energy
content
the
same
at
60
percent.
AN
This
will
result
in
significant
savings
to
our
community
over
35
million
in
aggregate
compared
to
what
they're
paying
in
2022.
So
we're
very
pleased
to
have
this
opportunity
and
you
might
ask
well
how
does
that
impact
our
financial
position
and
because
our
recommendation
is
to
build
those
reserves
faster?
AN
You
can
see
that
by
this
time
next
year,
we
expect
to
have
just
over
that
180
days
in
an
operating
Reserve,
although
you
also
see
a
better
and
a
worse
case,
projection
here,
depending
on
power
supply
costs
and
where
ultimately,
PG
needs
rates
and
pcie
subtle,
and
then
you
can
see
on
a
fiscal
year
basis.
We
do
expect
to
end
the
fiscal
year,
which
is
over
90
days
of
operating
expenses
in
a
reserve
and
important
to
note.
This
is
all
net
of
repaying
that
commercial
loan
repayment.
AN
And
then,
finally,
today,
for
your
consideration
is
a
financial
reserve
policy,
so
this
Reserve
requires
us
to
build
and
maintain
at
least
180
days
of
operating
reserves.
This
is
a
CCA
best
practice.
It's
also
been
recommended
To
Us
by
Deloitte
last
year.
Some
of
the
benefits
are
that
it'll
improve
our
financial
stability.
AN
Allow
us
to
really
provide
stable
and
competitive
rates
over
the
long
term.
It
also
allows
us
to
secure
better
commercial
terms
from
our
power
suppliers
and,
finally,
it's
important
to
someday
receiving
an
investment
grade.
Credit
rating
for
San,
Jose,
clean
energy
and
with
that
I'm
happy
to
take
any
questions.
F
AB
Yes
possible
from
the
Horseshoe
again
racial
equity
as
you
as
you
start
installing
the
infrastructure
for
Ev
cars.
All
these
clean
energy
aspirations
that
you
have,
the
cost
of
electricity
is
going
to
exponent,
actually
accelerate.
Okay
I
know,
none
of
you
care
because
you're
going
to
be
gone,
you're
going
to
be
gone.
You've
already
benefited
your
benefactors
and
the
people
that
you
actually
work
for.
So
you're
not
going
to
be
concerned
about
Petty
things
like
that.
I
mean
you
know
it.
AB
It
may
make
the
difference
between
whether
or
not
you
go
to
Santana
Row
versus
Valley
Fair.
It
may
make
that
kind
of
a
difference,
but
it's
not
really
going
to
make
a
difference
in
your
lives,
okay,
but
to
the
Mexicans
and
to
the
Chicanos,
who
that's
whom
I
am
a
part
of
I'm,
a
part
of
that
Community,
the
Mexicano
and
the
Chicano
Community.
Okay,
you're,
not
giving
a
cost
benefit
analysis
with
respect
to
population,
and
you
have
the
data.
Don't
tell
me
that
you
don't
because
you
guys
hail
and
love
data.
AB
E
No
I'm
going
to
have
to
ask
for
help
again
I'm
having
a
hard
time
getting
my
zoom
up.
Do
we
have
any
hands
on
Zoom.
T
Yeah,
obviously,
really
good
news
I
think
one
thing
that
that
I
recognize
we
had
this
conversation
as
we
we
entered
this
this
new
field
and
the
pcie
Chargers
just
went
through
the
roof,
and
there
was
a
lot
of
concern.
I
think
on
hey,
you
know:
did
we
make
the
right
decision?
T
What's
this
going
to
look
like
and
I
think
we
knew
we
were
in
it
for
the
long
run
and,
albeit
as
you
described,
unprecedented
on
the
drop
in
the
pcie
charge,
but
but
I
think
it's
just
proof
that
hey
that
we
are
in
this
for
the
long
run
and
already
right
we're
seeing
that
turn
around
and
now
we're
going
to
build
those
reserves.
Could
you
speak
a
little
bit,
though
you
said
it
was
unprecedented:
it's
going
down
projected
to
go
down
almost
to
zero.
AN
All
right,
council
member,
thank
you.
It's
a
very
good
question.
The
reason
for
that
the
reason
for
the
rise,
and
now
the
fall
is,
is
actually
the
same
reason
in
2018,
the
Public
Utilities
Commission
changed
the
way
they
calculated
the
pcia
and
they
now
calculate
the
pcia.
The
primary
driver
is
short-term
power
prices,
and
so
they
have
an
inverse
relationship.
When
power
prices
are
lower,
the
PCA
is
higher
and
then
when
power
prices
are
higher,
the
PCA
is
lower,
and
you
can
think
of
that.
AN
AN
You
know
when
we
launched
power.
Prices
were
much
lower
than
they
are
today
really
starting
in
the
late
summer
of
2020
power.
Markets
started
to
increase
after
that
heat
storm
that
we
experienced
in
2020
and
then
in
2021
there
was
a
Texas
freeze,
another
pretty
extreme
weather
event
that
also
pushed
prices
up
higher.
AN
The
drought
has
also
been
a
factor.
There
hasn't
been
as
much
Hydro
available,
so
just
limited
Supply
and
then
finally,
this
year
the
warring
Ukraine
has
really
increased
gas
prices
globally,
which
is
increased
power
markets
and
then,
finally,
we
had
another
extreme
summer
and
heat
event.
You
know
over
Labor
Day
weekend
and
so
prices
are
very
high,
and
that
means
you
know
there
just
aren't
as
much
costs
to
recover
in
the
PCI.
For
those
above
Market
costs
I,
you
know
you
wouldn't
have
expected
prices
to
rise
this
quickly.
AN
That's
why
I
say
it's
unprecedented
and
that's
why
our
recommendation
is
really
to
build
that
operating
Reserve,
because
as
long
as
the
pcia
is
calculated
on
these
short-term
prices,
it's
really
important
that
we
have
as
Reserve
to
stabilize
rates
and
then
also
work
toward
the
long-term
toward
solutions
that
you
know
ultimately
reduce
costs
for
all
rate,
Pairs
and
and
really
lower
and
stabilize
the
the
pcie
fee,
so
that
you
know
it's
not
going
up
and
down
so
dramatically.
Each
year.
T
Okay,
thank
you.
I
appreciate
that,
and
thanks
for
the
presentation,
I'll
move
approval.
G
E
All
right
motion,
second
I
just
wanted
to
say
thanks
again
Lori
to
all
the
work
that
your
team's
done.
Three
really
big
pieces
of
good
news,
often
overlooked
is
the
fact
that
the
cares
discount
is
now
10
instead
of
five
I.
Think
it's
wonderful,
but
we
just
talked
about
to
be
able
to
build
the
reserves,
as
you
have
hopefully
in
a
year,
if
all
goes
well.
E
That
would
be
tremendous
because
when
that
Reserve
is
built,
then
you
and
your
team
and
the
council
can
really
start
to
engage
with
the
community
about
how
we
can
creatively
invest
in
ways
and
and
achieving
our
our
objectives,
around
equity
and
and
sustainability
and
everything
else
and
and
then,
of
course,
the
the
rates
be
able
to
keep
them
low
and
under
PG
ease.
I
think
this
is
really
a
fantastic
bit
of
news.
So
thank
you
any
other
questions
from
the
council.
Oh
okay,
let's
vote.
F
G
F
G
Here,
hi
Carrasco.
C
E
Right,
thank
you
item
8.1
actions
related
to
the
San
Jose
hotel
business,
Improvement
District
for
the
next
fiscal
year.
I'll
move
approval.
Oh
this
is
a
public
hearing
and
emotion.
Okay,
so
we're
going
to
do
both
so
we'll.
Take
that
motion
we're
going
to
ask
if
anyone
the
public
would
like
to
speak
at
this
public
hearing
on
the
hotel
business,
Improvement
District.
AB
Yeah
I'd
like
to
talk
about
it,
because
that
was
the
origin
point
for
the
raising
the
flag
statute.
It's
not
balanced
at
you.
It's
called
raising
the
flag
and
Paul
we're.
AB
The
hotel
with
interrupting
you,
mayor,
I'm,
talking
so
with
Redevelopment,
with
respect
to
hotels,
there's
a
history
of
the
corruption
in
that
system
and
I
would
like
that
that
ability
for
hijacking
these
policy
decisions
in
order
to
Institute
racist
policies
with
respect
to
that
statute,
because
you
can't
separate
the
Fairmont
Hotel
from
the
region
of
the
flag
statue,
you
can't
separate
the
two
because
one
evolved
from
the
other
and
that
right
there
is
now
going
to
cost
the
city
a
few
hundred
thousand
dollars
to
remove
and
public
embarrassment,
because
it's
going
to
make
national
news
so
I
have
every
single
right
to
talk
about
hotel
development
and
the
city's
involvement
in
it,
because
that
City
involvement
is
what
place
that
Statute
in.
AB
AB
And
the
corruption
with
it,
because
I'm
tired
of
having
to
undo
the
Next
Generation,
because
there's
going
to
be
a
Paul
Soto
in
the
Next
Generation
and
so
I'm
trying
to
prevent
as
much
work
like
the
work
that
he
has
to
do
to
amend
the
corruption.
That's
going
to
happen
right
now
as
soon
as
I'm
finished
talking.
AB
So
that's
that's.
The
issue
that
I
have
is
that
the
corruption
that
happens
right
now
it
took
36
years,
but
I
did
it
I?
Did
it
and
there's
more
that
I'm
going
to
do,
make
no
mistake,
but
the
corruption
with
the
relationship
between
the
his
between
the
city
and
the
hotel
businesses
it
needs
to
stop.
It
just
needs.
AO
E
Okay,
we'll
entertain
a
motion
now
on
the
hotel,
business,
Improvement
District
or
any
questions.
Oh
I'm,
sorry,
there
was
a
motion
already
from
customer
approx.
Are
there
any
questions?
Let's
vote.