[00:00:05]
THIS IS A CLOSED SESSION OF THE BOARD OF DIRECTORS OF THE EAST BAY REGIONAL PARK DISTRICT ON FEBRUARY 6TH, 2024, BEGINNING AT 11:20, AND I DO APOLOGIZE FOR THE LATE START.
MADAM CLERK, CAN YOU PLEASE CALL THE ROLL?
[ROLL CALL]
YES, PRESIDENT ECHOLS.OKAY, SO DIRECTOR WAESPI IS APPEARING REMOTELY TODAY.
DIRECTOR WAESPI, ARE THERE ANY INDIVIDUALS 18 YEARS OR OLDER WHO ARE PRESENT WITH YOU IN YOUR ROOM TODAY? NO, THEY'RE NOT.
NO, AND IT'S WE'RE HAVING, YOU'RE KIND OF COMING IN QUIET.
I DON'T KNOW IF YOU WANT TO ADJUST YOUR SOUND OR SOMETHING.
OKAY. OH, THAT'S BETTER, THAT'S BETTER.
OH, YOU ALREADY CALLED THE ROLL. OKAY, SORRY.
SO ARE THERE ANY PUBLIC COMMENTS ON THE CLOSED SESSION AGENDA ITEMS? GREAT. WELL, IN THAT CASE, WE WILL GO TO CLOSED SESSION, AND I DO WANT TO ALSO ANNOUNCE THAT WE WILL BEGIN OUR OPEN SESSION
[CLOSED SESSION ITEMS]
AT 1:30 TODAY.GIVEN THAT WE HAVE A LOT TO COVER IN OUR CLOSED SESSION.
THIS IS THE REGULAR BOARD MEETING OF THE BOARD OF DIRECTORS OF THE EAST BAY REGIONAL PARK DISTRICT ON FEBRUARY 6TH, 2024, BEGINNING AT 1:34 AND WE DO APOLOGIZE FOR THE DELAY IN STARTING TODAY.
MADAM CLERK, CAN YOU PLEASE DO A ROLL CALL?
[ROLL CALL]
YES, PRESIDENT ECHOLS.THANK YOU, DIRECTOR SANWONG, CAN YOU PLEASE LEAD US IN THE PLEDGE OF ALLEGIANCE? ALL RIGHT.
OKAY. DIRECTOR MERCURIO, CAN YOU PLEASE READ OUR LAND ACKNOWLEDGMENT?
[LAND ACKNOWLEDGEMENT]
SURE. WE HUMBLY ACKNOWLEDGE THAT WE ARE ON THE UNCEDED LANDS OF THE OHLONE PEOPLE, AND THAT THE EAST BAY REGIONAL PARK DISTRICT HEADQUARTERS IS LOCATED WITHIN THE HUICHIN TERRITORY, WHICH IS THEIR TRADITIONAL, ANCESTRAL AND SHARED HOME SINCE TIME IMMEMORIAL.THE OHLONE PEOPLE HAVE AND CONTINUE TO LIVE IN RECIPROCITY WITH NATURE, UNDERSTANDING THE SEASONS AND CYCLES OF THE NATURAL WORLD, MANAGING RESOURCES FUNDAMENTAL FOR SURVIVAL, AND IMPORTANT TO CULTURAL PRACTICES, ALL WHILE PASSING DOWN THEIR KNOWLEDGE AND EXPERTISE.
WE HONOR WITH GRATITUDE THE LAND ITSELF, THE WILDLIFE LIVING IN THESE LANDS AND THE PEOPLE WHO HAVE STEWARDED IT AND WHO CONTINUE TO REMAIN DEEPLY CONNECTED TO IT TODAY. THANK YOU.
THANK YOU. DIRECTOR WAESPI IS APPEARING REMOTELY TODAY.
SO I NEED TO ASK DIRECTOR WAESPI.
ARE THERE ANY INDIVIDUALS 18 YEARS OF AGE OR OLDER WHO WILL BE PRESENT IN THE ROOM WITH YOU TODAY? NO, THERE IS NO ONE HERE.
ALL RIGHT. DO I HAVE A MOTION TO APPROVE THE AGENDA?
[APPROVAL OF AGENDA]
THANK YOU FOR A SECOND.THANK YOU. ALL IN FAVOR? AYE. OPPOSED? ABSTAINED? OKAY.
ALL RIGHT. DO WE HAVE ANY SPECIAL PRESENTATIONS TODAY? NO WE DON'T. OKAY, GREAT.
[PUBLIC COMMENT]
NOT ON THE AGENDA.YES. PRESIDENT ECHOLS, WE HAVE SOMEONE IN THE ZOOM ROOM IN MR.
[00:05:03]
MICHAEL DYSON, AND WE ALSO HAVE RENEE PATTERSON IN THE ACTUAL BOARDROOM.OKAY. WHAT'S YOUR PREFERENCE? I THINK WE'LL TAKE MR. DYSON, BECAUSE I UNDERSTAND HE'S BEEN WAITING FOR US FOR A WHILE.
OKAY, MR. DYSON, YOU HAVE THREE MINUTES, SIR.
MR. DYSON, CAN YOU HEAR ME? OH, HE JUST GOT PROMOTED.
WE CAN GO AHEAD AND START WITH MISS PATTERSON AND THEN HOPEFULLY HE'LL GET ONLINE.
SO HE'S THERE. IT'S JUST A LITTLE DELAY.
OH, HE'S ACTUALLY IN THE ROOM.
MR. DYSON, CAN YOU HEAR ME? OKAY, WE'RE GOING TO HOLD YOU, AND THEN WE'RE GOING TO GO WITH RENEE.
YOU HAVE THREE MINUTES, RENEE.
THANK YOU. GOOD AFTERNOON, BOARD OF DIRECTORS.
I DON'T FLEX, I MEAN, I FLEX ONCE EVERY OTHER WEEK.
SO I'M HERE TODAY TO REMIND YOU THAT WE HAVE A PERBS FILING, AND IT'S IN RELATION TO TELECOMMUNICATING, BUT MY POINT THAT I WANT TO MAKE IS THAT THERE WAS A PERPS FILING DONE BY AFSCME FOR UNFAIR PRACTICE CHARGE ON AUGUST 26TH, 2022. THE CHARGES FOR BAD FAITH BARGAINING, INTERFERENCE, DIRECT DEALING, UNILATERAL IMPLEMENTATION.
THIS IS WITH PERBS, THE STATE OF CALIFORNIA PUBLIC EMPLOYEE BOARD.
SO AGAIN, THIS WAS FILED ON AUGUST 26TH, 2022.
STILL, AS FAR AS I KNOW, NOTHING HAS HAPPENED WITH THIS ON PART OF PERPS OR AFSCME OR THE BOARD.
SO I JUST COME TO REMIND YOU BECAUSE I DON'T WANT YOU TO FORGET.
SO THANK YOU VERY MUCH FOR YOUR TIME.
WE CAN GO TO MR. DYSON. MR. DYSON, CAN YOU HEAR ME? OH, HELLO. OH, GOOD.
MR. DYSON, CAN YOU HEAR ME? THANK YOU. YES, I CAN HEAR YOU.
I WON'T BELABOR YOU WITH THE DETAILS OF MY TENT BEING ESSENTIALLY DESTROYED BY THE CHABOT STAFF. SO THE DAY THAT I WENT TO THE.
THIS WAS BACK IN JULY OF 23, THE DAY I WENT TO THE CHABOT HEADQUARTERS THERE AND MET WITH APRIL.
SHE FOLLOWED UP WITH AN EMAIL, AND I SUBMITTED THAT TO YOLANDA YESTERDAY, WHICH I ASSUME YOU ALL HAVE A COPY OF, BUT I'LL JUST GO OVER IT QUICKLY.
IT SAYS I SPOKE WITH CHRISTOPHER PERCH, WHO WORKS IN OUR RISK DEPARTMENT, AND HE SAID THAT YOU CAN PURCHASE A NEW TENT, ATTACH THE RECEIPT TO THE CLAIM FORM AND MAIL EVERYTHING INTO THE PARK DISTRICT AND YOU WILL BE REIMBURSED.
I MET THOSE REQUIREMENTS ON I THINK IT WAS JULY 18TH OR, YOU KNOW, AS QUICKLY AS POSSIBLE.
IT WAS WITHIN A WEEK OR TWO OF THE DESTRUCTION OF MY TENT.
SO I'M WAITING FOR PAYMENT, AND I CAN'T BE ANY CLEARER.
WITH REGARDS TO WHAT I'M SEEKING AND WHAT WAS STATED BY THE PARKS AND THAT I'VE KEPT MY PART
[00:10:11]
OF THE AGREEMENT, AND I WOULD APPRECIATE IT IF THE PARKS WOULD DO THE SAME.NEXT. WE'VE SINCE HAD ANOTHER SPEAKER COME INTO THE ROOM.
OKAY, HOLD ON A SECOND. SO THANK YOU.
I HAVE NEVER RECEIVED ANY RESPONSES TO MY CORRESPONDENCE WITH MR. DYSON, BUT I'D BE HAPPY TO EMAIL HIM AGAIN.
THANK YOU. CAN I JUST ADD THAT Y'ALL STATED THE TERMS AND YOU HAVE MET THEM.
MR. DYSON, THAT WAS THE END OF YOUR PUBLIC COMMENT.
OKAY. THANK YOU. OKAY. THANK YOU.
THANK YOU. OUR NEXT SPEAKER IS KELLEY ABREU.
IF A COUPLE OF THINGS THAT ARE NOT ON THE AGENDA TODAY, NUMBER ONE IS THERE SEEMS TO BE NO ITEMS OF BUSINESS THAT ARE NOT ON THE CONSENT CALENDAR. VERY UNUSUAL FOR A PUBLIC AGENCY, ESPECIALLY FOR THE EAST BAY REGIONAL PARK DISTRICT BOARD OF DIRECTORS, TO NOT HAVE ANY ANYTHING TO DISCUSS.
ONE OF THE ITEMS ON THE CONSENT CALENDAR THAT YOU MIGHT LOOK AT IS THIS CHOUINARD PROPERTY, AND IF YOU LOOK AT THE MAP, IT CONNECTS TWO GIANT PROPERTIES THAT ARE ACTUALLY LAND BANKS.
IT JUST SAYS LAND BANK, AND THIS IS ESSENTIALLY YOU'RE TALKING ABOUT LAND USE.
A FEW DAYS AGO, THIS LAND USE THING THIS PARK DISTRICT HAS A SEEMS TO HAVE A VERY RIGOROUS AND VERY STRICT PROCEDURE FOR ACQUIRING LANDS, BUT THEN ONCE YOU'VE ACQUIRED THEM, WHAT ABOUT 25% OF YOUR ACREAGE GOES INTO LAND BANK AND THE PARK DISTRICT'S MEANING OF BANK IS A VERY YOU KNOW VERY KIND OF AMATEUR MEANING OF BANK.
MOST PEOPLE THINK THAT A BANK IS LIKE A PIGGY BANK, AND THEY KEEP YOUR MONEY.
ACTUALLY, THEY TURN AROUND AND LEND IT OUT.
IT'S CALLED FRACTIONAL RESERVE BANKING IS WHAT'S BEEN DOING WHAT PEOPLE DO NOWADAYS, HOW ALL THE BANKS WORK IN A MODERN ECONOMY AND THE PARK DISTRICT, YOU KNOW, WHEN YOU LAND BANK THINGS YOU COULD YOU KNOW, DO CATTLE GRAZING OR YOU COULD PULL IT OUT OF THE LAND BANK AND YOU COULD LET PEOPLE DO RECREATION, WHICH IS WHAT YOU TOLD THEM YOU WOULD BE DOING WHEN YOU PURCHASED IT.
SO IT'D BE NICE TO HAVE LIKE, A RIGOROUS SYSTEM OF ACCOUNTING FOR YOUR LAND BANKS.
LIKE, WHEN DID YOU BUY THEM? WHEN DID YOU ACQUIRE THEM? LIKE, WHAT WAS THE ORIGINAL PURPOSE OF THAT LAND BANK LIKE WHEN YOU ACQUIRED IT? WHAT WAS YOUR SCHEDULE? YOU KNOW, WHAT DID YOU INTEND TO DO WITH IT, AND WHEN DID YOU INTEND TO DO IT? YOU KNOW, WE ALL KNOW WHAT THAT IS.
YOU KNOW, WE ALL KNOW IT'S GOING TO BE THE PARCEL IS GOING TO BE TURNED INTO A PARK, AND IT'S GOING TO BE ACCESS IS GOING TO BE FIGURED OUT, AND IT'S GOING TO BE INTEGRATED INTO A REGIONAL PARK, AND WE ALL EXPECT THAT TO HAPPEN WITHIN 10 OR 15 YEARS.
SO LET'S GO BACK AND DO THAT STEP BY STEP FOR OUR FOR ALL THE LAND BANK PROPERTIES AND YOU KNOW, BRING THEM UNDER STRICT MANAGEMENT INSTEAD OF JUST LEAVING THEM OUT THERE TO, YOU KNOW, UNMANAGED TO FEND FOR THEMSELVES WITH THESE BLANKET EXEMPTIONS AND BEING IGNORED.
THANKS. THANK YOU, MR. ABREU. THAT'S THE END OF THE PUBLIC COMMENTS, PRESIDENT ECHOLS. THERE'S NO MORE PUBLIC COMMENT.
OKAY. SO DO WE HAVE ANY ANNOUNCEMENTS, GENERAL COUNSEL BOURGAULT? NO? OKAY.
SO NOW WE CAN MOVE ON TO THE CONSENT CALENDAR.
[CONSENT CALENDAR]
I UNDERSTAND THAT WE HAVE A COUPLE DIRECTORS WHO WANTED TO PULL ITEM 11.SO WE WILL WE WILL DO THAT, AND.
DID YOU DID EITHER OF YOU WANT TO SAY ANYTHING ABOUT IT, OR DID YOU JUST WANT TO GO STRAIGHT TO THE PRESENTATION? PRESENTATION. YES.
OKAY. ALL RIGHT, SO I UNDERSTAND WE HAVE A PRESENTATION ON THIS ITEM.
PULL THIS ITEM AND DO THE REST, AND THEN GO AHEAD AND YOU GOT IT.
OKAY. CONSENT CALENDAR, AND THEN WE CAN MOVE.
THAT SOUNDS LIKE A GREAT RECOMMENDATION.
SO DO I HAVE A MOTION TO APPROVE THE CONSENT CALENDAR MINUS ITEM 11.
[00:15:02]
SECOND OKAY. WE HAVE A MOTION AND A SECOND.ALL OPPOSED? ABSTENTIONS? NONE.
SO WE CAN PROCEED WITH OUR PRESENTATION ON ITEM NUMBER 11.
IF I MAY, I'D JUST LIKE TO READ WHAT THAT ITEM IS FOR THE GENERAL PUBLIC.
I'M DEBORAH SPAULDING, ASSISTANT FINANCE OFFICER, AND AS YOLANDA JUST SAID, THIS IS APPROVAL OF THE INVESTMENT POLICY STATEMENT AND THE PROPOSED FUND LINEUP FOR OUR DEFERRED COMPENSATION PLANS.
I'M GOING TO PROVIDE YOU WITH SOME CONTEXT AND AN OVERVIEW, AND THEN WE HAVE BILL THORNTON, WHO'S HERE FROM EMPOWER, AND HE'S GOING TO GET INTO SOME MORE DETAIL ABOUT THE INVESTMENTS THAT ARE LISTED AS BEING OFFERED TO THE PARTICIPANTS.
FIRST, I WANT TO GIVE YOU SOME CONTEXT ABOUT WHY WE ARE DOING THIS AND HOW WE GOT HERE.
SO LAST YEAR, FOR SOME REASON I AM NOT ABLE TO ADVANCE.
LAST YEAR WE DID AN RFP, AND THANK YOU.
IT'S SOMETHING THAT WE HADN'T DONE SINCE 1981, AND WE'VE BEEN WITH OUR OLD FIRM, MISSION SQUARE, SINCE 1981, AND SO I THINK IT REALLY WAS SURPRISING FOR PEOPLE THAT THIS WAS HAPPENING, BUT IT'S REALLY A BEST PRACTICE.
SO WE WANTED TO LEARN ABOUT THE POSSIBLE ALTERNATIVES FOR PLAN PARTICIPANTS, AND BOTTOM LINE, WE REALLY SHOULD BE LOOKING FOR THE BEST POSSIBLE FEES AND SERVICES FOR THE PLAN PARTICIPANTS, AND SO THAT BRINGS US TO WHERE WE ARE TODAY, WHERE WE NEED THIS INVESTMENT POLICY STATEMENT.
SO WHY DO WE NEED ONE NOW, AND WE HAVEN'T HAD ONE IN THE PAST.
SO WITH MISSION SQUARE WE JUST HAD THEIR SET FUND LINEUP.
SO THEY PROVIDE THE SAME FUND LINEUP TO EVERYONE THROUGHOUT THE COUNTRY.
SO WE DON'T HAVE ANY OPTIONS WITH THE EMPOWER MODEL.
WE NOW HAVE INVESTMENT OPTIONS SO WE CAN CHOOSE WHAT INVESTMENTS WE WANT TO HAVE AND TAILOR THAT FOR OUR PLAN PARTICIPANTS LOOKING FOR LOWER FEES AND BETTER INVESTMENT PERFORMANCE. SO WE HAVE THIS IPS THAT GIVES DIRECTION TO EMPOWER, TO HELP THEM PROVIDE THE RIGHT INVESTMENTS TO OUR PARTICIPANTS.
SO WE HAVE INVESTMENT OBJECTIVES WHICH TALK ABOUT LIKE WHAT WE WOULD LIKE EMPOWERED TO ACHIEVE FOR OUR PARTICIPANTS THE ROLES AND RESPONSIBILITIES, WHO DOES WHAT FOR THE INVESTMENTS, THE MANAGEMENT AND ADMINISTRATION, HOW WE'RE GOING TO SELECT OUR INVESTMENTS ONCE WE'VE SELECTED THEM, HOW ARE WE GOING TO MEASURE THEM AND HOW WELL THEY'RE DOING? WHAT ARE WE GOING TO DO IF AN INVESTMENT DOESN'T MEET OUR STANDARDS, MAKING SURE THAT WE HAVE DIVERSE INVESTMENTS FOR PARTICIPANTS? AND THEN LASTLY, WHAT DO WE DO IF A PLANNED PARTICIPANT HASN'T SELECTED INVESTMENT, THERE'LL BE A DEFAULT INVESTMENT FOR THEM, AND SO ANOTHER QUESTION YOU MIGHT BE ASKING YOURSELF IS HOW IS THE BOARD GOING TO HAVE THIS FIDUCIARY RESPONSIBILITY? HOW ARE THEY GOING TO WATCH OVER THE PLANNED INVESTMENT.
SO THIS IS EXCERPTED FROM THE IPS.
SO WE HAVE BILL HERE TODAY, AND THEN EMPOWER ALSO IS GOING TO SERVE AS CO FIDUCIARY FOR OUR INVESTMENTS, AND MAKING SURE THAT THEY ARE ALSO PAYING ATTENTION TO THE INVESTMENTS WE'VE SELECTED AND MAKING SURE THAT THEY'RE PERFORMING AS EXPECTED.
ALL RIGHT. I'M GOING TO TURN IT OVER TO BILL NOW.
GOOD AFTERNOON. AS DEB MENTIONED, I AM BILL THORNTON WITH EMPOWER INVESTMENTS.
I WILL BE YOUR INVESTMENT DIRECTOR GOING FORWARD.
I'LL BE THE ONE WALKING YOU THROUGH THAT.
THE OFFICIAL LANGUAGE IS AT LEAST ANNUALLY.
MY SUGGESTION WOULD BE PROBABLY SEMIANNUALLY.
[00:20:03]
FREQUENTLY WE CAN DO THAT.WITH EMPOWER, YOU'RE NOT ON A GROUP ANNUITY CONTRACT FOR THE ENTIRE LINEUP.
SO WITH MISSION SQUARE, THEY'VE REALLY HAD CONTROL OF EVERYTHING IN THE LINEUP.
THE OTHER BIG ADVANTAGE IS FROM A COST STANDPOINT GROUP ANNUITY CONTRACTS VERY COMMON FOR FOR SMALLER PLANS, PLANS THAT ARE JUST STARTING OUT BUT TYPICALLY ONCE YOU GET TO A CERTAIN AMOUNT IN ASSETS, YOU TYPICALLY COME OFF OF THAT BECAUSE THEY DO TEND TO BE A LITTLE BIT OF EXPENSE, A LITTLE BIT EXPENSIVE. SO JUST THIS SLIDE IS JUST A LITTLE BIT OF A GRAPH OF HOW MUCH JUST A SMALL CHANGE IN EXPENSE CAN ULTIMATELY COST A PARTICIPANT, AND THIS CHART IS JUST LOOKING AT, YOU KNOW, A DIFFERENCE OF A QUARTER OF A POINT 25 BASIS POINTS AND THE CHANGE THAT CAN ULTIMATELY HAVE ON A PARTICIPANT JUST IN, IN COMPARISON.
SO THE PROPOSED LINEUP THAT, THAT WE'VE PUT TOGETHER GOING FORWARD IS ABOUT 12 BASIS POINTS LESS ON A WEIGHTED AVERAGE THAN THE CURRENT MISSION SQUARE LINEUP, AND IN TERMS OF ACTUAL DOLLARS, THAT EQUATES TO A LITTLE OVER $200,000 A YEAR IN PARTICIPANT SAVINGS.
SO OUR GOAL WITH THAT LINEUP IS CERTAINLY COST SAVINGS, BUT WE WANT TO BE ABLE TO PROVIDE PARTICIPANTS THE OPPORTUNITY TO BE ANYWHERE ALONG THE RISK RETURN SPECTRUM FOR WHERE THEY NEED TO BE FOR THEIR INDIVIDUAL ALLOCATION.
THAT NEXT SLIDE IS JUST LOOKING AT TO SEE AN EYE TEST FOR THE SMALL PRINT AT LEAST.
SO THIS IS LOOKING AT THE CURRENT LINEUP ON THE LEFT SIDE OF THE PAGE.
THOSE ARE EACH OF THE FUNDS IN THE LINEUP, THE DOLLAR AMOUNTS IN THERE, THE EXPENSE RATIO OF THAT FUND AND JUST COMPARING THAT TO THE PROPOSED LINEUP WITH EMPOWER.
SO WE'VE ON THE FAR RIGHT, I KNOW IT'S VERY HARD TO SEE, BUT THERE ARE THAT'S NOT A SEPARATE FUND.
EACH ONE THERE ARE THERE ARE SOME REPEAT FUNDS IN THERE, BUT ULTIMATELY, IF YOU CAN SEE ON THE VERY BOTTOM, CURRENTLY THE COST IS ABOUT 600,000, 590,000, I THINK TO PARTICIPANTS GOING FORWARD THAT WOULD BE CLOSER TO ABOUT 370,000.
SO AGAIN, A GOOD NUMBER OF FUNDS, BUT FROM A COST STANDPOINT MORE ADVANTAGEOUS.
THE OTHER THING THAT WE NORMALLY TRY TO DO IS TO MAKE IT A LITTLE BIT MORE EFFICIENT.
IF THERE'S ONE THING THAT WE'VE SEEN IN THE INDUSTRY OVER THE PAST DECADE OR SO IS A CERTAIN A VERY PREVALENT EMPHASIS ON COST, BUT ALSO MAKING THINGS A LITTLE EASIER FOR PARTICIPANTS.
SO THE COLUMN ON THE LEFT IS THE CURRENT FUND LINEUP COLUMN.
ON THE RIGHT IS THE PROPOSED FUND LINEUP.
SO REALLY ALL WE'VE DONE IS JUST ELIMINATE SOME REDUNDANCIES.
SO WE'RE JUST TRYING TO MAKE THINGS EASIER FOR PARTICIPANTS.
SO AGAIN A REALLY ROBUST LINEUP THAT PARTICIPANTS CAN BE ANYWHERE ON THAT RISK RETURN SPECTRUM.
SO WE DO HAVE OPTIONS ALONG THAT LINE MULTIPLE FUNDS WITHIN THAT ESG LINEUP SO THEY CAN AGAIN, HAVE A ANYWHERE THEY WANT TO BE ON THAT, ON THAT ALLOCATION SPECTRUM BUT ENTIRELY ON THE ESG FRONT, TOO.
SO THAT'S KIND OF THE PROPOSED LINEUP.
ARE THERE QUESTIONS FROM THE BOARD? OKAY. DIRECTOR ROSARIO, GO AHEAD.
SORRY. JUST THE TIMING OF THE TRANSITION, BECAUSE IT IS HAPPENING RATHER QUICKLY.
SO TODAY IS THE ADOPTION OF THE INVESTMENT POLICY STATEMENT AND FUND LINEUP, I HOPE, AND THEN THERE'S THE 21ST IS A PLANNED BLACKOUT DATE? SO NO MORE TRADING CAN HAPPEN? FUNDS WILL BE LIQUIDATED AND TRANSFERRED AND REINVESTED WITHIN POWER, AND THEN THE PORTAL WILL BECOME AVAILABLE TO PLAN PARTICIPANTS THE WEEK OF MARCH 11TH.
[00:25:03]
GREAT. THANK YOU. THANK YOU FOR INDULGING MY REQUEST HERE BECAUSE I HAD SOME CONCERNS ABOUT CROSSING OVER FROM ONE PLAN TO ANOTHER, AND I JUST WANTED TO MAKE SURE THAT YOUR STAFF IS GOING TO BE ABLE TO HANDLE REQUESTS FROM INDIVIDUAL RETIREES ABOUT THEIR ACCOUNTS, AND HOW THEY AND, AND HOW THEY COMPARE WITH THEIR CURRENT INVESTMENT? YES, WE HAVE A REPRESENTATIVE, WHAT WE CALL A RETIREMENT PLAN ADVISOR.SO, YOU KNOW, THEY'RE KIND OF OUR BOOTS ON THE GROUND HERE.
SO THEY'LL BE AVAILABLE FOR ANY AND ALL QUESTIONS ON A TO SIT DOWN FACE TO FACE OR VIRTUALLY, IF THAT'S EASIER FOR PARTICIPANTS, BUT YEAH, CERTAINLY AT THAT LEVEL QUESTIONS IF THERE'S QUESTIONS FROM THE PLAN LEVEL, FROM THE BOARD, FROM LYNNE, FROM DEB WE HAVE ME ON THE INVESTMENT SIDE.
WE HAVE ANOTHER PERSON WHO WILL BE THE ACTUAL RELATIONSHIP MANAGER, BOB GLEASON, WHO LIVES A LITTLE BIT NORTH OF HERE, A LITTLE BIT OUTSIDE OF SACRAMENTO, BUT I THINK ON ON ALL LEVELS, WE SHOULD HAVE WE SHOULD HAVE EVERYTHING COVERED AS FAR AS QUESTIONS OR CONCERNS.
GOOD, AND THEN THEN REGARDING THE PRESENTATIONS TO THE BOARD, IS THAT GOING TO COME TO FINANCE COMMITTEE OR IS IT GOING TO COME TO THE FULL BOARD FOR THOSE UPDATES? I'LL DO THOSE UPDATES FOR WHOEVER WANTS THEM.
SO AND I'M HAPPY TO DO AS MANY UPDATES AS YOU WANT IF THERE'S DIFFERENT COMMITTEES AND BOARDS INVOLVED, CERTAINLY HOWEVER YOU WOULD LIKE, AND I CAN DO THOSE, I DO THOSE FOR MULTIPLE BOARDS, I CAN THAT CAN BE 15 MINUTES.
SO ABSOLUTELY I'LL TAILOR THAT TO WHATEVER YOU GUYS NEED, BUT JUST KNOW THAT WE ARE MONITORING FUNDS, YOU KNOW, KIND OF BEHIND THE SCENES AND, AND BRINGING THAT TO THE BOARD'S ATTENTION WHENEVER YOU WOULD LIKE.
EMPOWER WILL BE PRESENTING TO THE FULL BOARD ON THE SCHEDULE THAT YOU DETERMINE IS APPROPRIATE.
I THINK THIS IS REALLY A GOOD CHANGE FOR THE PARK DISTRICT, BECAUSE I DON'T RECALL EVER GETTING REPORTS FROM EITHER MISSION SQUARE OR ICMA OR TRANSAMERICA FOR THAT MATTER.
SO I'M LOOKING FORWARD TO THE TRANSITION.
THANK YOU. I WANTED TO FOCUS ON THE ACTUAL POLICY LANGUAGE.
I WAS VERY IMPRESSED WITH IT'S LIKE EVERY POSSIBLE QUESTION THAT YOU MIGHT HAVE IS CONTAINED IN THERE, AND SO IT LEAVES IT SPELLS OUT EVERYTHING AND DOESN'T LEAVE ANY ROOM FOR ANY MISUNDERSTANDING OR VAGUENESS, BUT I WAS CONCERNED ABOUT THE WORDING IN TERMS OF WHAT THE BOARD IS ACTUALLY DIRECTLY RESPONSIBLE FOR, AND MAYBE I'M JUST MY LITERAL MIND IS JUST TAKING THIS TOO IN THE WRONG WAY, BUT THERE'S LANGUAGE IN HERE THAT SAYS THE BOARD WILL SELECT THE ASSET CLASS AS AN INVESTMENT STYLES TO BE INCLUDED IN THE INVESTMENT OPTIONS TO BE OFFERED, AND YOU KNOW, I DON'T I WASN'T I DON'T KNOW HOW THAT COULD BE TRUE AS IT STANDS NOW, BUT LATER ON IN HERE, THE SOLUTION WOULD SEEM TO BE WORDING SUCH AS THE BOARD WILL, WITH THE ASSISTANCE OF THE INVESTMENT ADVISOR OR OTHER QUALIFIED ADVISORS, DOT DOT DOT DOT.
SO ISN'T THAT SOMETHING WE SHOULD BE CONCERNED ABOUT THAT, YOU KNOW, THAT IT'S SAYING THINGS THAT WE DON'T DO, AND YET THERE IS AN OPTION TO CHANGE THE WORDING TO MAKE IT MORE ACCURATE AS TO WHAT REALLY HAPPENS? YEAH, I THINK WE COULD CHANGE THE WORDING.
I'M LOOKING OVER AT LYNNE TO AMEND IT, TO ADD THAT WITH THE ASSISTANCE OF AN INVESTMENT ADVISOR, AND THAT I THINK WOULD CLARIFY, AND I'LL JUST ADD THAT TODAY YOU ARE SELECTING THOSE FUNDS, YOU KNOW, WITH THE ASSISTANCE OF AN INVESTMENT ADVISOR.
SO THAT YOU I GUESS I'M JUST SAYING THAT YOU ARE ACTUALLY MAKING THE SELECTION, EVEN THOUGH YOU MAYBE DON'T FEEL LIKE YOU'RE PICKING AND CHOOSING, BUT BY APPROVING TODAY'S ACTION, YOU ARE MAKING THAT SELECTION.
DOES THAT MAKE SENSE? KIND OF SORTA? YEAH, BUT I STILL FIND THAT LANGUAGE IN THERE TO BE NOT AS ACCURATE AS IT COULD BE.
[00:30:04]
SO THAT'S ALL I'M SAYING.DO YOU HAVE A SUGGESTION THAT YOU WOULD THAT YOU'D LIKE TO? YEAH. EVERY TIME IT SAYS THE BOARD WILL DO SOMETHING, I THINK WE SHOULD ADD WITH THE ASSISTANCE OF THE INVESTMENT ADVISOR OR OTHER QUALIFIED ADVISOR AND THERE'S A FEW PLACES IN THERE WHERE IT SAYS THAT AT LEAST ONE THAT I'M LOOKING AT, THAT I HIGHLIGHTED HERE.
AND MAYBE THIS IS SOMETHING WE DO, YOU KNOW, YOU KNOW, TWO MONTHS FROM NOW OR SOMETHING, BUT I'M JUST RAISING THE QUESTION RIGHT NOW BECAUSE IT WAS IN MY PACKET AND I READ IT AND I SAW IT, AND I JUST DIDN'T WANT TO IGNORE IT.
WE HAD SOME DISCUSSIONS BEFORE YOU HAD WE HAD THIS THE CURRENT SELECTION HERE OF WHO'S ON THE BOARD ABOUT WHO THE FIDUCIARY IS FOR THE DEFERRED COMPENSATION PLANS, AND THE BOARD THE BOARD OF DIRECTORS, WE ARE COMPLETELY OPEN TO DISCUSSING WHETHER OR NOT THAT SHOULD BE, WHETHER THE BOARD OF DIRECTORS IS THE APPROPRIATE PARTY.
AND SO THERE'S DIFFERENT WAYS IN WHICH WE CAN GIVE THE BOARD SUPPORT.
THERE'S TRAINING, THERE'S CONTRACTING WITH AN INVESTMENT ADVISOR, THE PREFERRED OPTION, AND WHAT WE RECOMMENDED A COUPLE OF YEARS AGO WAS THAT WE SET UP AN ACTUAL FIDUCIARY COMMITTEE, AND THAT COMMITTEE WOULD HAVE PEOPLE WHO HAVE EDUCATION AND EXPERIENCE THAT LEADS THEM TO BE THE APPROPRIATE FIDUCIARY FOR THIS TYPE OF A PLAN OR PLANS, AND SO THAT WOULD BE, FOR INSTANCE, IT WOULD BE THE AGM OF HR, THE CFO OR AGM OF FINANCE, ME, THE GENERAL COUNSEL, SABRINA OR HER DELEGATE.
BUT IT WOULD BE PEOPLE THAT HAVE THE KIND OF EXPERIENCE THAT YOU WOULD WANT TO BE OVERSEEING THIS TYPE OF PLAN, AND WE DID RECOMMEND THAT A COUPLE OF YEARS AGO IT WASN'T TAKEN UP, BUT I WOULD DEFINITELY RECOMMEND THAT WE CONSIDER DOING THAT AGAIN.
YEAH, I WOULD I WOULD CERTAINLY SUPPORT TAKING A LOOK AT THAT.
YEAH. THANK YOU, AND IN THE MEANTIME, THIS IS JUST MY QUESTION FOR LYNNE IT, WOULD IT BE APPROPRIATE TO, TO PUT TO USE THE KIND OF LANGUAGE THAT HE SUGGESTED? BECAUSE IT DOES I MEAN, IT'S NOT LIKE WE'RE GOING TO BE DOING THIS JUST ON OUR OWN.
SO IT WILL BE WITH THE ASSISTANCE FROM AN INVESTMENT ADVISER OR OTHERWISE QUALIFIED PERSON.
SO RIGHT NOW THE BOARD IS RESPONSIBLE FOR APPROVING THIS FUND LINEUP AND MISSION SQUARE OR RATHER SORRY, EMPOWER HAS TAKEN ON CO FIDUCIARY RESPONSIBILITIES, WHICH MEANS THAT THEY'RE THEY'RE TAKING ON TO SOME EXTENT RESPONSIBILITY FOR MAKING SURE THEY'RE FOLLOWING THEIR FIDUCIARY OBLIGATIONS AND RECOMMENDING THE RIGHT TYPE OF OF INVESTMENTS THAT MAP WITH THE INVESTMENT POLICY STATEMENT.
BUT IT'S TRUE THAT AS OF RIGHT NOW, AS YOU SIT HERE, IT'S THE BOARD OF DIRECTORS WHO IS THE PLAN FIDUCIARY, AND WE DON'T HAVE AN INVESTMENT ADVISER, WE DON'T HAVE A DEFERRED COMPENSATION FIDUCIARY COMMITTEE, AND WE DO RECOMMEND, I RECOMMEND THAT WE SET A COMMITTEE UP SO THAT THE RESPONSIBILITY ISN'T SITTING WITH THE BOARD OF DIRECTORS.
OKAY. YEAH, I UNDERSTAND THAT PART.
DO YOU MEAN IT'S NOT THE IT'S NOT, IT'S THE INTENT, BUT IT'S NOT WHAT WE'RE CURRENTLY DOING.
OR DO YOU MEAN THAT IS THE INTENT REGARDLESS? BECAUSE IT SEEMS TO ME, EVEN IF WE DON'T HAVE OUR OWN INVESTMENT ADVISOR, WE'RE NOT MAKING THESE DECISIONS IN A VACUUM, AND THAT MAYBE THAT SHOULD BE ACKNOWLEDGED IN THIS, IN THE LANGUAGE, AND, AND I'M JUST WONDERING IF THERE'S A WAY TO I THINK DIRECTOR MERCURIO MAKES A REALLY GOOD POINT, AND I WOULD LIKE TO SEE THAT REFLECTED IN THE LANGUAGE WHILE STILL UNDERSTANDING THAT AS OF TODAY, YES, WE YOU KNOW, THE BUCK STOPS HERE.
ULTIMATELY, THE BOARD OF DIRECTORS IS THE ULTIMATE FIDUCIARY, BUT I THINK IF WE WRITE IN HERE THAT, YOU KNOW, YOU KNOW, THAT WE'RE DOING IT WITH THE ASSISTANCE OF OTHERS, IT DOESN'T GIVE US REALLY COVER IN A LEGAL SENSE, BUT IT IS IT IS AN ACCURATE STATEMENT OF THE OF WHAT WE'RE OF WHAT WE'RE DOING, I THINK.
DOES THAT MAKE SENSE OR IS THERE A REASON NOT TO DO THAT? THE WAY THAT I READ IT, IT IT IS FINE FOR THE WHAT IS HAPPENING RIGHT NOW AS WE SPEAK ON THE GROUND.
I GUESS I'M A LITTLE CONFUSED AS TO WHAT LANGUAGE YOU WOULD WANT CHANGED.
DO YOU WANT TO? YEAH, YOU CAN READ IT OR POINT TO IT EXACTLY.
I DON'T THINK THAT WE RECEIVED THAT.
SO IF YOU DON'T MIND, I MEAN, I WOULD BE HAPPY TO TAKE A LOOK AT THAT.
[00:35:02]
THIS IS RIGHT NOW, THE POLICY STATEMENT WOULD BE BEING APPROVED IN ITS CURRENT FORM.WE DO NEED TO KIND OF STAY ON TRACK WITH DOING THIS IN ORDER TO BE ABLE TO PUSH FORWARD WITH THE TRANSITION TO EMPOWER ON THE TIMELINE THAT WE HAVE. BUT WE COULD BRING IT BACK AND CHANGE IT.
I JUST WANTED TO RAISE THE QUESTION.
I DON'T WANT TO I DO NOT WANT TO STAND IN THE WAY OF THIS GOING FORWARD.
THE KIND OF THING I KNOW HOW THINGS, THESE THINGS WORK.
WE GOT TO STAY ON WHAT THE TASK IS, BUT IN THE BACKGROUND, WE NEED TO BE THINKING ABOUT IMPROVING THE LANGUAGE, AND I CAN GET BACK TO WHOEVER WANTS ME TO GET BACK TO THEM ABOUT MY SUGGESTION.
YEAH, ABSOLUTELY, AND LIKE I SAID, THIS IS THE DISTRICT'S INVESTMENT POLICY STATEMENT.
YOU'RE FREE TO CHANGE IT AT ANY TIME SO WE CAN DISCUSS FURTHER.
OKAY. YEAH. ALL RIGHT. THANK YOU.
SOUNDS LIKE A GOOD, GOOD RESULT.
DIRECTOR MERCURIO, I DID JUST FIND THE EMAIL.
IT WAS SENT LATE, SO I'LL FORWARD IT TO YOU.
DID ANYONE ELSE HAVE A COMMENT OR QUESTION? YEAH. GO AHEAD, DIRECTOR SANWONG.
YEAH. THANKS FOR JOINING US TODAY.
I GUESS I HAVE A FEW QUESTIONS IN REGARDS TO THE PLAN INVESTMENT REVIEW.
IS THIS SOMETHING THAT YOU PUT TOGETHER FOR OTHER CLIENTS OR JUST SOMETHING THAT YOU DID FOR US AND PRESENTED TO US? I WASN'T ON THE FINANCE COMMITTEE LAST YEAR, SO I DON'T KNOW IF THIS WAS PREVIOUSLY SHARED WITH THE PARK DISTRICT.
IT'S PROBABLY 60 OR 70 PAGES IN THIS CASE.
SO THAT HITS I THINK ALL OF THE, ALL OF THE MAJOR CRITERIA.
NOW SINCE THEN, ONCE, ONCE THE IPS IS, IS APPROVED, IF THERE ARE SPECIFIC CRITERIA IN THE IPS THAT WE WANT TO LOOK AT, I THINK BATTING AVERAGE, I THINK WAS MENTIONED THERE WAS A COUPLE OF OTHER CRITERIA.
I CAN CUSTOMIZE THAT REPORT TO MEET THE CRITERIA OF THE IPS, BUT THE VERSION YOU HAVE IS IS KIND OF OUR NORMAL QUARTERLY REPORT. OKAY.
SO THIS IS IT'S SHARED WITH US AS AN EXAMPLE OF WHAT WE SEE GOING FORWARD.
SO IT'S NOT A STATIC LINEUP BY ANY MEANS, BUT THE REPORTS THAT ARE IN THERE ARE OUR NORMAL PACKAGE.
EXCELLENT. YEAH, AND I'LL JUST SHARE SOME QUICK FEEDBACK I THINK IT'S ACTUALLY REALLY WELL DONE.
SO THANK YOU FOR SHARING THE EXAMPLE.
SO I LOOK FORWARD TO SEEING YOUR FUTURE PRESENTATIONS.
GO AHEAD. I WOULD LIKE TO GO AHEAD AND MOVE THIS FOR APPROVAL.
IS THERE A SECOND? SECOND. OKAY.
WE HAVE A MOTION AND A SECOND.
ALL IN FAVOR? AYE. OPPOSED? ABSTENTIONS? GOOD PASSES UNANIMOUSLY.
THANK YOU. THANK YOU VERY MUCH.
OKAY, SO NOW WE ARE ON TO THE NEXT ITEM.
SORRY, AND SO THERE ARE THERE ANY COMMENTS FROM OUR GENERAL MANAGER TODAY? NOPE.
NOTHING. AND ANY ANNOUNCEMENTS FROM CLOSED SESSION?
[ANNOUNCEMENTS FROM CLOSED SESSION]
YES, PRESIDENT ECHOLS, I HAVE ONE ANNOUNCEMENT.TODAY IN CLOSED SESSION, THE BOARD OF DIRECTORS APPROVED A SETTLEMENT OF THE CASE BROUGHT BY THE PARK DISTRICT AGAINST QUESTA ENGINEERING CORPORATION.
THE BOARD APPROVED SETTLING THE MATTER, WHICH IS ALAMEDA COUNTY SUPERIOR COURT CASE NUMBER 21CV 000770 FOR A PAYMENT FROM QUESTA TO THE PARK DISTRICT IN THE AMOUNT OF $900,000, AND THAT'S IT.
SO I THINK WE ARE ALL READY ON TO BOARD COMMENTS.
[BOARD COMMENTS]
SO I'M GOING TO START AT THAT END WITH DIRECTOR ROSARIO.IF YOU'RE READY. ARE YOU READY OR SHOULD I START WITH START? I'LL START WITH DIRECTOR COFFEY.
ON JANUARY 19TH, I ATTENDED THE ANNUAL CONTRA COSTA BAR ASSOCIATION INSTALLATION LUNCHEON, AND I WAS THERE THAT DAY WITH YOLANDA AND YULI AS WE WERE REPRESENTING THE PORT CHICAGO 50 TASK FORCE, MEMBERS OF THE LOCAL
[00:40:09]
BAR ASSOCIATION AND WE THE THREE OF US PARTICIPATED IN AN AWARDS CEREMONY FOR PORT CHICAGO 50 CHAMPIONS.ON THE 26TH, I ATTENDED THE BOARD RETREAT WITH ALL OF YOU FOLKS.
ON THE 29TH TO THE 31ST, I ATTENDED THE SACRAMENTO ADVOCACY CONFERENCE, IN WHICH WE MET WITH THE OUR LEGISLATIVE DELEGATIONS.
AND I WANTED TO SAY THAT, YOU KNOW, JUST TO COMMEND THE GOVERNMENT AFFAIRS TEAM THAT PUT THAT TOGETHER, IT WAS THE MOST WELL ORGANIZED OF THESE OUTINGS THAT I'VE PARTICIPATED ON IN, IN THE LAST EIGHT YEARS IS VERY EFFICIENT AND EFFECTIVE, AND WE ACTUALLY MET WITH THE ACTUAL LEGISLATORS AS OPPOSED TO THEIR STAFFS.
LET ME SEE. ON THE ON FEB ONE, I WAS THE MONTHLY PRESENTER AT THE DIABLO CHAPTER OF [INAUDIBLE] AT THEIR LUNCHEON IN PITTSBURGH, AND LAST FRIDAY I ATTENDED THE BOARD LAND SESSION.
SO. THANK YOU, DIRECTOR SANWONG.
I WAS JUST WRITING SOME OF THEM DOWN.
SO SINCE OUR LAST BOARD MEETING ON JANUARY 22ND, I HAD A MEETING WITH SOME FOLKS FROM THE N3 CATTLE RANCH, WHICH IS A LARGE PARCEL THAT'S LOCATED IN FOUR COUNTIES, INCLUDING OURS, NEXT TO OUR THE DEL VALLE REGIONAL PARK THAT WE OPERATE.
ON THE 24TH I HAD MY FIRST FINANCE COMMITTEE MEETING.
REALLY GREAT TO BE JOINING THAT GROUP, AND IT WAS A GOOD, GOOD MEETING.
THE 26TH WE HAD OUR BOARD RETREAT STUDY SESSION THE 27TH, THE DAY AFTER WE HAD OUR VERY FIRST 90TH ANNIVERSARY EVENT, THE BIOBLITZ AT SUNOL, AND I KNOW I'VE HAD SOME OPPORTUNITIES TO SHARE SOME FEEDBACK, BUT I WANT TO DO THAT DURING THE BOARD MEETING.
I THINK IT WENT REALLY, REALLY WELL.
YOU KNOW, IT'S REALLY FUN TO HAVE BEEN A PART OF THE VERY FIRST 90TH ANNIVERSARY, YOU KNOW, PUBLIC EVENT, I BELIEVE THE SUNOL VISITOR CENTER AND SUNOL TEAM, INCLUDING OUR PARK RANGERS, ALL DID SUCH A FABULOUS JOB THAT DAY, TO THE POINT WHERE THE SUNOL VISITOR CENTER EVEN CREATED THEIR OWN BUTTONS TO HAND OUT TO THE FOLKS WHO ATTENDED THIS EVENT. AND THEN I STAYED TO GO ON THE BIOBLITZ AFTERWARDS, WHICH IS A VERY LOVELY WALK THROUGH SUNOL PARK, AND WITH THAT, WE USE THE INATURALIST APP WHERE YOU CAN TAKE PHOTOS AND UPLOAD THEM.
THE PROJECT HAD ALREADY BEEN CREATED BY THE SUNOL VISITOR CENTER, AND THEN YOU CAN USE THE APP TO TRY TO IDENTIFY THE SPECIES, AND THEN OTHER FOLKS CAN CHIME IN AND PROVIDE THEIR THOUGHTS ON WHAT THE SPECIES IS.
I UPLOADED A PHOTO OF A BANANA SLUG AND THEN A PHOTO OF A BEAUTIFUL BUTTERFLY.
BOTH OF THE ONES THAT I SELECTED WERE DEEMED NOT COMPLETELY CORRECT.
SO I'M REALLY EXCITED ABOUT OUR 90TH ANNIVERSARY EVENTS AND CAN'T WAIT TO SEE WHAT ELSE WE HAVE COMING UP, BUT I WANT TO ESPECIALLY THANK SUSAN AND HER TEAM, DAVE MASON, WHO WAS THERE THAT DAY. THEY PREPARED SOME GREAT TALKING POINTS.
I THINK THAT WENT REALLY WELL, AND I GUESS IF THERE'S JUST LIKE ONE POINT OF FEEDBACK AND THIS MIGHT BE MORE OF THE HISTORY NERD IN ME, AND I'M SURE JOHN CAN RELATE. YOU KNOW, I DID MENTION IN MY TALK OR I ADDED TO THE TALKING POINTS TO TALK ABOUT HOW AT THE BOARD RETREAT THE DAY BEFORE, WE HAD TALKED ABOUT HOW IN 1934 PRESIDENT FRANKLIN D ROOSEVELT WAS IN OFFICE, AND I MENTIONED THAT HOW THAT HAD BEEN A CONVERSATION THE DAY BEFORE THE SUNOL BIOBLITZ, AND SINCE THEN I'VE DONE SOME OF MY OWN RESEARCH.
BUT IT MIGHT BE KIND OF COOL TO ADD IN SOME OR WEAVE IN SOME COMMENTS ABOUT THE NEW DEAL, BECAUSE CERTAINLY A LOT OF THAT WORK DOES TIE IN TO WHAT WE HAVE HERE AT THE PARK DISTRICT, AND I CAN SHARE SOME LINKS WITH YOU ABOUT THAT, AND MAYBE THIS IS A GREAT WAY TO REACH OUT TO BRENDA AND THE ARCHIVES TEAM AS WELL, TO INCLUDE, I THINK THAT SOME PEOPLE MIGHT BE INTERESTED IN HEARING THAT.
[00:45:01]
THAT ARE IN THAT SHADOW CLIFFS CHAIN OF LAKES AREA, AND SO THAT WAS REALLY NICE TO BE ABLE TO SHOW HER WHAT SOME PLEASANTON RESIDENTS.GARY AND NANCY HARRINGTON, HELPED PROVIDE SOME OF THE SEED MONEY FOR TOWARDS THE CREATION AND THE CONSTRUCTION OF THE INTERPRETIVE PAVILION AT SHADOW CLIFFS.
BUT ALONG THAT TRAIL, FROM THE SHOPPING CENTER NEXT TO SHADOW CLIFFS, YOU ACTUALLY WILL SEE A LOT OF THE BRICKS THAT WERE DISCARDED BY THE BRICKYARD THAT WAS LOCATED IN THAT AREA, AND SO IT'S KIND OF FUN TO WALK ALONG AND YOU CAN SEE DIFFERENT COLORS OF BRICKS, AND IT'S KIND OF A NEAT THING THAT OUR INTERPRETIVE PAVILION ALSO THEN SHOWCASES THAT HISTORY.
AND I'LL SHARE, YOU KNOW, I ACTUALLY LIKE TO COLLECT THOSE BRICKS, AND DURING THE RAINSTORM, SOMETIMES THEY WILL FLOW DOWN THE ARROYO DEL VALLE ALONG THE TRAIL THAT'S NEAR MY HOUSE THAT I WALK ALONG.
SO IT'S KIND OF FUN TO SEE WHAT BRICKS TRAVEL IN THE ARROYO AND WHICH ONES STAY AT SHADOW CLIFFS.
AND I'LL JUST SHARE ANECDOTALLY, I THINK THIS CAME UP AT THE LAND SESSION, WHICH WAS THE NEXT DAY, FEBRUARY 2ND OF LAST WEEK, THAT THERE IS A LEASE RENEWAL OR RENEWAL WITH CALIFORNIA STATE PARKS AND DWR COMING UP AT DEL VALLE, AND I THINK THAT IS STARTING TO CREATE A LOT OF CHATTER WITH ALL THE DIFFERENT STAKEHOLDERS IN THAT AREA.
SO I DO FIND A LOT OF PEOPLE REACHING OUT TO ME, AND LUCKILY I'M VERY KNOWLEDGEABLE ABOUT THIS AREA, HAVING BEEN ON THE ZONE SEVEN BOARD OF DIRECTORS PRIOR TO THIS ONE. SO I DO THINK THAT WE'LL PROBABLY BE HEARING A LOT ABOUT THIS, THOUGH IN THE NEXT TWO YEARS POTENTIALLY.
SO THAT'S ALL SINCE THE LAST BOARD MEETING, I DID WANT TO MAKE ONE COMMENT.
I KNOW THAT WE ONLY HAVE BOARD COMMENTS STILL IN OUR AGENDA, AND I KNOW AT THE END OF LAST YEAR, I HAD MADE A REQUEST THAT MAYBE WE ADD AN AGENDA ITEM FOR RECOMMENDATIONS FOR FUTURE BOARD MEETINGS IN TERMS OF AGENDA ITEMS. AND I ACTUALLY WROTE THESE NOTES FROM THE LAND SESSION THAT COLIN HAD MADE ABOUT HOW HE HAD WANTED TO TALK ABOUT THE POTENTIAL SCHEDULING OF CLOSED SESSION IN REGARDS TO PROPERTY ACQUISITION, BUT IT WASN'T ON THE AGENDA AT THE LAST AT THE LAND SESSION.
I THINK IT WOULD BE HELPFUL IF WE HAD THIS REQUEST FOR FUTURE BOARD MEETINGS IN OUR BOARD AGENDA SO THAT WE CAN BRING UP THESE IDEAS, BECAUSE I THINK THERE'S A LOT OF DIFFERENT TOPICS, EVEN WHAT WE JUST REVIEWED WITH THE DEFERRED COMPENSATION PLAN AND SOME OF DOCTOR MERCURIO'S COMMENTS ABOUT HOW WE MIGHT BE ABLE TO ADJUST SOME OF THE LANGUAGE, I THINK THAT WOULD BE ANOTHER EXAMPLE OF SOMETHING THAT WE'D WANT TO BRING UP AT A FUTURE BOARD MEETING, OR MAYBE HAVE, YOU KNOW, FINANCE COMMITTEE WORK ON BEFORE IT COMES TO THE BOARD, AND I'M JUST CURIOUS HOW WE TRACK BOARD REQUESTS, BECAUSE I KNOW I'VE MADE OTHER REQUESTS FOR ITEMS TO BE ON THE AGENDA, AND I JUST DON'T HAVE ANY SORT OF FOLLOW UP ON WHEN THOSE REQUESTS ARE GOING TO COME BACK TO US.
AND SO I JUST WANT TO MAKE THAT COMMENT AGAIN RIGHT NOW, SINCE IT FEELS LIKE THIS IS THE ONLY OPPORTUNITY WE REALLY HAVE WITHIN THE AGENDA STRUCTURE TO MENTION THESE THINGS. THANK YOU.
THANK YOU. DIRECTOR CORBETT, ARE YOU READY TO GO? OH. NOT READY. OKAY. DIRECTOR MERCURIO.
THANK YOU. SO ON THE JANUARY 16TH WAS OUR BOARD MEETING.
THE DAY AFTER THAT, ON THE 17TH, I MET WITH MATT MORGAN, WHO LIVES HE BACKS UP TO THE SOUTH OF HIS PROPERTY BACKS UP TO THE SOUTH OF BAILEY PROPERTY.
JANUARY 19TH I MET WITH THE JOE [INAUDIBLE] AND DAVE FONG FROM TOWN OF DANVILLE AND TALKED ABOUT A RANGE OF, OF ISSUES THERE THAT WAS VERY INTERESTING.
ON THE 20 OH ON THE 22ND, I MET WITH SERGIO HUERTA AND ROSS MITCHELL IN WALNUT CREEK FROM AFSCME OUR LOCAL AFSCME.
ON THE 24TH WAS OUR FINANCE COMMITTEE MEETING, AND THEN ON THE 25TH, SAVE MOUNT DIABLO HAD THEIR ANNUAL STATE OF THE MOUNTAIN CELEBRATION, WHERE THE GENERAL WHERE THEIR EXECUTIVE DIRECTOR GETS UP AND RELATES ALL THE SUCCESSES THAT THEY'VE HAD, AND THEN GOES INTO SOME OF THEIR FUTURE ENDEAVORS, AND I ALWAYS THINK THAT I IN FACT, I SENT AN EMAIL TO THIS EFFECT TO TED CLEMENT THAT'S ALWAYS A VERY UPLIFTING,
[00:50:02]
ENCOURAGING THING, AND IT MAKES ME VERY PLEASED TO KNOW THAT THEY'RE A PARTNER OF OURS AND HOPEFULLY ALWAYS WILL BE.THEN ON THE 26TH IS WAS THE BOARD RETREAT ON THE 30TH AND THE 31ST, AS COLIN MENTIONED, WE WERE UP, UP IN SACRAMENTO AND I TOO FOUND THAT TO BE A VERY EFFECTIVE MEETING SERIES, AND, YOU KNOW, I ALWAYS LEARN A LOT FROM THAT.
ALWAYS. YEAH. THE SECOND TIME I'VE BEEN THERE LATER THAT LATER THAT DAY, GETTING HOME JUST IN TIME TO LOG INTO ZOOM AND WATCH THE TILDEN EDC REPLACEMENT PROJECT PUBLIC MEETING, WHERE WE LEARNED A LITTLE BIT MORE ABOUT WHAT THE IDEAS ARE FOR REPLACING THAT VENERABLE STRUCTURE.
FEBRUARY 1ST, I WENT TO THE CONTRA COSTA COUNTY MAYOR CONFERENCE IN EL CERRITO WHICH I FOUND VERY CURIOUS THAT'S WHERE THE BERKELEY COUNTRY CLUB IS IN EL CERRITO.
I WAS CONFUSED AT FIRST, BUT WHAT BE THAT AS IT MAY, I WENT THERE AND IT WAS VERY NICE.
VERY GOOD MEETING, VERY INTERESTING PROGRAM ABOUT ABOUT THE ELECTIONS PROCESS.
THAT'S WHAT SHE THE CLERK RECORDER PRESENTED.
IT WAS VERY GOOD. ON THE SAME, SAME SAME DAY BEFORE THAT, THOUGH I MET IN ALAMO WITH THREE CONSTITUENTS WHO ARE CONCERNED ABOUT SAFETY ON THE ON THE IRON HORSE TRAIL.
AND THEN ON THE FEBRUARY 2ND THE BOARD LAND SESSION, WHICH IS ALSO VERY INTERESTING.
THAT'S ALL. OKAY, DIRECTOR ROSARIO.
I'M READY. SORRY FOR THE DELAY.
LEE CREEKSIDE PUBLIC PLANNING HEARING AT IN LAFAYETTE AND FIELDED A TON OF QUESTIONS ABOUT THE LAFAYETTE MORAGA TRAIL THAT GOES THROUGH THERE, AND ALSO THE PROPOSED, I MEAN, FIELDED A WHOLE BUNCH OF QUESTIONS, AND I I MET SHORTLY AFTER WITH AGM KEN MARSAKI AND REN BATES, AND THEY ANSWERED ALL MY QUESTIONS AND I GOT ALL THAT FEEDBACK BACK TO THE TO THE CREEK CREEK COMMISSION FROM LAFAYETTE AND THEY WERE SO HAPPY TO HEAR ALL THAT.
IT WAS ALL GOOD NEWS, AND SO AND I REALLY APPRECIATE KEN AND REN MEETING WITH ME SO QUICKLY AND GETTING ME ANSWERS, SO THAT WAS THAT WAS WONDERFUL, AND THEN ON THE 22ND, I ATTENDED THE OAKLAND DD COALITION WHICH OVERSEES DEVELOPMENT FOR THE LAKE AND THE AND SO WE HAD A VERY ROBUST DISCUSSION ABOUT THE BAY TRAIL, AND SO HAD TO HAD TO ASSURE THEM THAT EVEN THOUGH WE COULDN'T DO SOME OF THE BAY TRAIL IN WHERE WE WANT IT NEXT TO THE WATER, THAT WE WOULD ALWAYS KEEP OUR OPTIONS OPEN.
IF OPPORTUNITIES AROSE IN THOSE AREAS SPECIFICALLY BETWEEN JACK LONDON SQUARE AND THE HIGH STREET BRIDGES, SO WE WOULD KEEP OUR OPTIONS OPEN IF SOMETHING AROSE THAT WE WOULD WE WOULD DEFINITELY BE BE INTERESTED, BUT RIGHT NOW WE'RE GOING TO HAVE TO GO INLAND. JUST JUST TO GET TO WRAP UP THAT, THAT PROJECT FROM OAKLAND DD.
AND THEN ON THE 26TH, I ATTENDED THE BOARD RETREAT.
I THOUGHT THAT WAS I THOUGHT THAT WAS PRETTY GOOD, AND HOPEFULLY WE CAN WE CAN DO MORE OF THOSE. AND THEN ON THE 29TH, I ATTENDED THE SUBCOMMITTEE MEETING AND THEN ON ATTENDED THE SACRAMENTO LEGISLATIVE CONFERENCE IN SACRAMENTO, WHICH I AGREE WITH, WITH DIRECTOR COFFEY.
YEAH. YEAH, AND THEN OF COURSE, NANCY SKINNER WAS WAS GREAT AS WELL.
AND THEN AND THEN ON 2/1 I MET WITH RACHEL LAM AND GAVE HER ALL MY I HAD SENT HER ALL MY ALL MY CONCERNS AND FUTURE ACQUISITIONS AND WANTS, AND WE HAD A GOOD DISCUSSION ABOUT THOSE, AND THAT WAS BEFORE THE LAND SESSION.
[00:55:02]
I'M GLAD YOU SAID THAT, BECAUSE IT REALLY PROMPTED MY JUST HAD ME FOCUS ON ON THAT MEETING THAT WE HAD AT THE LAST SESSION, WHICH WAS THE NEXT DAY.AND THEN ON THE 5TH, I MET WITH A CONSTITUENT REGARDING TRAILS.
HE WAS HE'S REALLY HE WANTS TO PROMOTE TRAILS EXTENSIONS IN SOUTHERN ALAMEDA COUNTY, AND THEN AND WE'RE HERE TODAY. SO I JUST WANT TO THANK YOU.
DIRECTOR WAESPI, DID YOU WANT TO REPORT ON YOUR ACTIVITIES? THANK YOU VERY MUCH. SO ON THE 17TH, I ATTENDED THE EXECUTIVE COMMITTEE MEETING.
ON THE 18TH, I MET WITH THE UNION REPRESENTATIVES TO TALK ABOUT THE UPCOMING NEGOTIATIONS.
ON THE 26TH, I ATTENDED THE BOARD RETREAT, AND ON THE 29TH, 30TH AND 31ST, I ATTENDED THE STATE ADVOCACY CONFERENCE ALONG WITH MY FELLOW BOARD MEMBERS. I AGREE IT WAS A GREAT EVENT.
I REALLY WOULD LIKE TO GIVE A SHOUT OUT TO LAUREN BLANCHARD, WHO DID AN EXCELLENT JOB OF ARRANGING THINGS AND HERDING US AROUND AND GETTING US ACCESS TO SOME, SOME GREAT PEOPLE. AND AS WITH DIRECTOR ROSARIO, I'M VERY, VERY EXCITED ABOUT THE CCC OR THE PROSPECTS OF THE CCC COMING TO THE BAY AREA OR OUR AREA.
ON JANUARY 2ND, I ATTENDED THE LAND SESSION.
IT WAS GREAT, AND FINALLY I AGREED WITH DIRECTOR SANWONG.
THANK YOU. THANK YOU, DIRECTOR CORBETT, ARE YOU READY OR DO YOU WANT ME TO GO FIRST? I THINK I'M READY.
BUT I DO WANT TO ALSO MENTION, OF COURSE, JANUARY 15TH, MARTIN LUTHER KING DAY HAD THE OPPORTUNITY TO BE PART OF THE MARTIN LUTHER KING CELEBRATION WITH THE MARTIN LUTHER KING COMMITTEE, AND, AND SO NICE TO SEE MY COLLEAGUES FROM THE COMMISSION, FROM THIS COMMITTEE BEING THERE AT THE COMMISSION.
LET'S SEE, ON THE 16TH, THERE WAS A MEETING OF THE BAR.
SKIP OVER THAT. JANUARY 17TH WAS THE EXECUTIVE COMMITTEE MEETING, MY FIRST ONE TO BE PART OF.
ON THE 24TH IT WAS A MEMBER OF THE FINANCE COMMITTEE.
ON THE 26TH THE PARK DISTRICT WAS A VOLUNTEER MEETING.
OF COURSE, ON THE 29TH WE ALL HOPPED ON A TRAIN AND TOOK OFF FOR SACRAMENTO AND CAME BACK ON THE 31ST AND HAD A REALLY FABULOUS TRIP IN SACRAMENTO.
WE HAD THE OPPORTUNITY TO MEET SOME OF OUR ELECTED OFFICIALS AND ALSO SOME OF THEIR STAFF MEMBERS, AND IT'S ALWAYS A REALLY GREAT OPPORTUNITY WHILE THEY'RE THERE BECAUSE THEY THEY ALWAYS SEEM TO BE VERY INTERESTED IN THE WORK WE DO HERE AT THE PARK DISTRICT.
I REMEMBER THE GOOD OLD DAYS WHEN ALWAYS SUCH CONVERSATIONS WERE NOT ALWAYS SOMETHING THAT PEOPLE WERE INTERESTED IN, BUT IT'S SO NICE TO SEE LEGISLATORS BE SO INTERESTED IN IN OUR PARK DISTRICT HERE.
GOT HOME ON THE 31ST FROM OUR TRIP BACK FROM SACRAMENTO.
ON THE 2ND OF FEBRUARY, ATTENDED THE LAND SESSION MEETING.
AND ON THE 5TH, I HAD THE OPPORTUNITY TO BE PART OF THE PRE-SESSION MEETINGS WITH THE PRESIDENT OF THE BOARD, AND THAT NEW POSITION THAT I'M PART OF, AND REALLY ENJOY WORKING WITH HER AND OUR STAFF IN GETTING PREPPED FOR THE NEXT COMMITTEE MEETING.
SO ON THE 17TH OF JANUARY, I ATTENDED THE EXECUTIVE COMMITTEE MEETING.
ON THE 19TH, MET WITH STAFF AND OUR CONSULTANTS TO PREPARE FOR THE BOARD RETREAT.
ON THE 22ND, I PARTICIPATED IN THE PARK ADVISORY COMMITTEE, AND REALLY JUST WANT TO SAY HOW MUCH I APPRECIATED ALL OF THE INSIGHTFUL COMMENTS AND DISCUSSION AROUND THE DISTRICT PLAN AND WHAT REALLY, IT WAS A VERY ROBUST DISCUSSION AND REALLY APPRECIATE ALL THE INPUT FROM THE PAC MEMBERS.
ON JANUARY 26TH, AS YOU'VE HEARD, WE HAD THE BOARD RETREAT.
IT WAS A FULL AGENDA, AND IT WAS, BUT VERY I FELT LIKE VERY INFORMATIVE.
[01:00:02]
I, WE COVERED A LOT OF GROUND AND GOT A LOT DONE, AND I GOT TO KNOW EACH OTHER ALL BETTER IN THE PROCESS, AND SO I THOUGHT THAT WENT WELL.THAT WAS THE 30TH AND THE 31ST, AND HAD A NUMBER OF REALLY EXCELLENT MEETINGS WITH OUR LEGISLATORS, THEIR STAFF, AS WELL AS ADMINISTRATION OFFICIALS, AND, YOU KNOW, OTHERS HAVE SAID IT, BUT I THINK REALLY IT'S UNUSUAL TO HAVE SUCH A WARM RECEPTION AND HAVE SO MANY LEGISLATORS AT SUCH A BUSY TIME, REALLY MAKE TIME FOR YOU AND MAKE A POINT OF OF ACTUALLY BEING THERE IN THE MEETING AND NOT JUST DELEGATE IT TO THEIR STAFF.
ON THE 2ND OF FEBRUARY, WE HAD THE BOARD STUDY SESSION ON LAND THEN ON THE YESTERDAY ON THE 5TH, THE PRE BOARD MEETING WITH MY VICE PRESIDENT AND OUR GENERAL MANAGER AND GENERAL COUNSEL AND YEAH, SO THAT'S AND NOW I'M HERE.
SO I THINK THAT BRINGS US TO A CLOSE.
IF THERE'S NOT ANYTHING ELSE WE CAN, WE CAN ADJOURN AT 2:34 P.M..
THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.