Video index
CALL TO ORDER: 6:00 P.M.
ROLL CALL:
Roll call (5 Present, 0 Absent, 0 Excused) (Recorded at 00:02:38)
INVOCATION:
By Lewis
PLEDGE OF ALLEGIANCE:
Packard
APPROVAL OF MINUTES:
Minutes of the Special Meeting held December 4, 2007.
Minutes of the Regular Meeting held December 4, 2007.
Motion to approve Minutes of the Regular Meeting held December 4, 2007. Moved by Mayor Lewis, seconded by Council Member Hall.
Vote to approve Minutes of the Regular Meeting held December 4, 2007. (Approved) (Recorded at 00:04:10)
CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed.
#2, 12 and 14 pulled for discussion.
Motion to approve CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed. Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed. (Approved) (Recorded at 00:04:54)
Except 2, 12 and 14
WAIVER OF ORDINANCE TEXT READING: This is a motion to waive the reading of the text of all ordinances and resolutions at this meeting.
PLEASE NOTE: SOME AGENDA BILLS MAY TAKE SEVERAL MINUTES TO BE DISPLAYED.
1. AB #19,252 - DEFERRED COMPENSATION PLAN FOR FIRE SAFETY EMPLOYEES. Establishing a Deferred Compensation Plan for Fire Safety eligible employees. Resolution No. 2007-313. ACTION:
AB19,252
2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library's 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION:
AB19,253
Motion to approve 2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library\'s 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library's 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION: (Approved) (Recorded at 00:05:24)
3. AB #19,254 - COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) AND HOME INVESTMENT PARTNERSHIP (HOME) FUNDING ADVISORY COMMITTEE APPOINTMENTS. Appointing members to the City of Carlsbad's Community Development Block Grant and Home Investment Funding Advisory Committee. Resolution No. 2007-315. ACTION:
AB19,254
4. AB #19,255 - EASEMENT VACATION Summarily vacating a public sewer and access easement over a portion of APN 209-060-10, PR 07-96. Resolution No. 2007-316. ACTION:
AB19,255
5. AB #19,256 - RATIFICATION OF REIMBURSEMENT AGREEMENT. Approving the ratification of a reimbursement agreement with Calavera Hills II, LLC, for traffic signal improvements at the intersection of College Boulevard and Carlsbad Village Drive. Resolution No. 2007-317. ACTION:
AB19,256
6. AB #19,257 - NOTICE OF COMPLETION. Accepting the installation of the Stagecoach Park Synthetic Turf Field by Western Rim Construction, Inc. as complete and directing the City Clerk to file a Notice of Completion, Contract No. 39371, Project No. PKS 04-03. Resolution No. 2007-318. ACTION:
AB19,257
7. AB #19,258 - EASEMENT VACATION. Summarily vacating a public drainage easement over a portion of APN 205-051-08, PR 07-117. Resolution No. 2007-319. ACTION:
AB19,258
8. AB #19,259 - RATIFICATION OF REIMBURSEMENT AGREEMENT. Approving the ratification of a reimbursement agreement with Bressi Gardenlane, LLC for traffic signal improvements at the intersection of Poinsettia Lane and El Fuerte Street, Project No. 3946. Resolution No. 2007-320. ACTION:
AB19,259
9. AB #19,260 - ACCEPTANCE OF GRANT. Accepting a DUI mini-grant from the California Office of Traffic Safety and appropriating funds to conduct two sobriety checkpoints in the City of Carlsbad. Resolution No. 2007-321. ACTION:
AB19,260
10. AB #19,261 - MEMORANDUM OF UNDERSTANDING. Approving the Memorandum of Understanding between the City of Carlsbad and Carlsbad Unified School District for the School Resource Office (SRO) Program for the 2007-08 school year. Resolution No. 2007-322. ACTION:
AB19,261
11. AB #19,262 - AWARD OF CONTRACT. Approving the contract with Teleque on Fire to replace fire station alerting systems at Fire Station Nos. 1, 2, 3, 4 and 5. Adopting Resolution No. 2007-323. ACTION:
AB19,262
12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION:
AB19,263
Recreation Services Manager Mick Calarco came forward to address Council. Mr. Calarco spoke about volunteer George Woolrdige and success. Mr. Woolrdige and Mr. Kindle made signage to identify areas of park. Hand made, painted and stained (26 signs in all) 150 volunteer hours and $500 donation from Friends of Carrillo Ranch. Introduced Mr. Woolridge. stated that he enjoyed making the signs and making it easier to get around at Ranch.
Council thanked Mr. Woolridge.
Motion to approve 12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION: (Approved) (Recorded at 00:08:56)
13. AB #19,264 - MEMORANDUM OF UNDERSTANDING. Approving the Memorandum of Understanding between the City of Carlsbad and the Municipal Storm Water Copermittees as required by the San Diego Regional Water Quality Control Board National Pollutant Discharge Elimination System Order No. R9-2007-0001. Resolution No. 2007-325. ACTION:
AB19,264
14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION:
AB19,265
Michele Levy, 3021 Highland Drive, came forward to address Council. Asked why we are planning for park and not Fire Department Master Plan. Want to plan for safety. Encouraged Council to plan for safety with Master Plan for the Fire Department.
Council Member Packard stated that he will vote no and would like to hold off on item period.
Motion to approve 14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION: (Approved) (Recorded at 00:11:23)
Listen to Lewis closed Session Announcement . . . . have verbiage relating Regional Water Quality Control Board.
Mayor Lewis made Closed Session Announcement.
Remember Packard made motion with NO SECOND!!!!
ORDINANCES FOR INTRODUCTION:
15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION:
AB19,266
City Attorney Ron Ball titled the Ordinances.
Motion to approve 15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION: (Approved) (Recorded at 00:14:25)
ORDINANCES FOR ADOPTION:
16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION:
AB19,267
City Attorney Ron Ball titled the Ordinance.
Motion to approve 16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION: (Approved) (Recorded at 00:15:15)
17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION:
AB19,268
City Attorney Ron Ball titled the Ordinance.
Motion to approve 17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION: (Approved) (Recorded at 00:16:09)
PUBLIC COMMENT: In conformance with the Brown Act, no Council action can occur on items presented during Public Comment. A total of 15 minutes is provided so members of the public can address the Council on items that are not listed on the Agenda. Speakers are limited to three (3) minutes each. If you desire to speak during Public Comment, fill out a SPEAKER CARD and place it in the clear tray on the wall adjacent to the Deputy City Clerk. If there are more than five (5) speakers, the remaining speakers will be heard at the end of the agenda just prior to Council Reports. When you are called to speak, please come forward and state your name and address.
Michele Levy, 3021 Highland Drive, Carlsbad, came forward to address Council. Expressed concerns relation to tax dollars used for publications relating to Proposition D. Ms. Levy spoke in support of establishing a Fire Department Master Plan.
PUBLIC HEARING:
18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION:
AB19,269
Senior Planner Christer Westman presented the staff report and reviewed a PowerPoint Presentation (on file in the Office of the City Clerk). Mr. Westman gave an overview of the proposed project and the project site.
Showed Master Plan of Bressi Village.
Project is on 2.5 acres - 6 buildings (4 free standing with one and two bedroom units). A common building. Underground garage with 106 parking stalls and 14 tandem parking spaces. An administration activity building/at grade parking outside administration building. Has pool and spa.
Contains interior courtyards.
No comments received from Public. One member of public asked questions at Planning Commission Public Hearing. Staff is recommending approval of project.
End of staff presentation.
Applicant called forward. Bill Hofman, Hofman Planning and Engineering 3192 Lionshead, Carlsbad, came forward to address Council. Requested that Council approve project.
Council Member Hall asked Kevin ?, this is a for sale unit? Yes said Kevin. Buyer will own unit? Yes, said Kevin and will pay a monthly service fee for any services. Can sell at any time? Yes said Kevin.
Lewis confirmed age restriction (62 years of age per Kevin). Lewis - will allow someone with medical deficiencies. Kevin, yes will have staff to provide assisted leaving.
Open PH at 6:22 p.m.
Close PH at 6:22 p.m.
Nygaard - excited about project. Great addition to the community.
Packard - project fills need in community. Kulchin - agree with colleagues.
Motion to approve 18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION: (Approved) (Recorded at 00:27:20)
ADJOURNMENT TO THE PUBLIC FINANCING AUTHORITY MEETING
AT 6:23
CALL TO ORDER:
ROLL CALL:
CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed.
WAIVER OF ORDINANCE TEXT READING: This is a motion to waive the reading of the text of all ordinances and resolutions at this meeting.
1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION:
AB33
Michele Levy, 3021 HIghland Drive, Carlsbad, came forward to address Council. Ms. Levy expressed concerns relating to $$ spent on golf course. Encouraged Council to establish a Fire Department Master Plan.
Motion to approve 1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION: (Approved) (Recorded at 00:29:46)
ADJOURNMENT TO THE CONTINUATION OF THE CITY COUNCIL MEETING
AT 6:26 p.m.
DEPARTMENTAL AND CITY MANAGER REPORTS:
19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION:
AB19,270
Bob Johnson, Deputy Public Works Director presented the staff report and reviewed a PowerPoint presentation (on file in the Office of the City Clerk).
Mr. Johnson explained that the establishment of the Carlsbad Residential Traffic Management Program was by a citizens committee.
Mr. Johnson explained the Phase (PAOI project area of influence - part of phase II). PaOI neighborhood support pedtion shows interest. Signed by simple majority (50% plus one).
Streets under consideration are called Candidate Streets and are evaluated on established factors. Each facotr has associted points based upon threshold levels.
Priority Scoring worksheet - 100 points based on following 6 factors: 1. Travel Speed (40 points) 2. Traffic volumes (30 points) 3. Collision history - (10 points) 4. Sidewalks (5 points) 5. School Proximity (5 points) 6. Pedestrian Crossings (10 points)
Mr. Johnson stated that Donna Drive is a selected street.
Second Street was Sierra Morena Avenue from Trieste Drive to Milano Drive. Recieved enough support to go into priority ranking.
Reviewed Next Steps in Program - Council asked to review and approve rankings. Funding would be considered during Annual Budget process.
Streets will remain on list for three years.
Streets are eligible for funding for three years then would drop off.
End of staff presentation. Packard - if Resolution is approving priority ranking list.
Since no funding set aside, not sure if Council is interested in placing streets on list.
Nygaard - is there a minimum of points. Johnson - at time program developed (over a 12 month period) with 7 citizens and staff - no minimum point criteria discussed or anticipated.
Nygaard - can we take a look at the issue? Johnson - could be studied and a methodology to make changes would require returning to Traffic Safety Commission and then back to Council. (Traffic Calming Program).
Nygaard - requests for stop signs . . . goes to traffic commission and then overturned by Council. Look at process. Council excluded stop signs for traffic calming.
Staff could study on residential streets.
Lewis - commented that staff is recommending what is recommended by citizens and commissions. Hall - police enforcement - could be associated with high school? Johnson - an issue of concern.
Hall - how often would PD patrol the area for enforcement? Johnson - pretty active - shown their presence. A speed sentry showing speed of vehicles.
Residents can jot down licence numbers and submit to Police Department.
Police will send letter to registered owner.
Tom Flannagan, 3342 Donna Drive, expressed concerns relating to speed on Donna Drive. Police cannot enforce - not enough. Can't get licence plate numbers because they are going too fast.
Hall - would like to narrow street - any other solutions ? Mr. Flannagan asked Council to consider data - maybe a traffic circle on Basswood.
Lewis - staff should come up with plan.
Mr. Harris, lived on Donna Drive for 3 years. Alarmed at how fast cars go on Donna Drive. Impressed with 1st, 2nd, and 3 rd meetings held at his house. Impressive of how much frustration and fear people lived under due to high rate of speed.
Motorcycles doing wheelies down the road.
Motion to approve 19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION: (Approved) (Recorded at 01:06:23)
20. AB #19,271 - ANNUAL REPORT OF INVESTMENT PORTFOLIO. To receive the City Treasurer's Annual Report of Investments for fiscal year ending June 30, 2007. ACTION:
AB19,271
City Treasurer Harold McSherry came forward to address Council relating to report on City Investment Portfolio. Presented the report and reviewed the PowerPoint Presentation (on file in the Office of the City Clerk).
Spoke about LAIF -
DO NOT BE CONCERNED WITH LAIF. Look at Federal Agencies
Reviewed Federal Funds Target Rate
Buy and hold strategy by City of Carlsbad. Portfolio has increased steadily and significantly - revenues have exceeded costs. Currently at $556.5 million.
Cash and Investments Relative to Total Assets of City and its agencies. Have S curve.
Cash/Investments = $560 million for 07/08
Source of Assets (internal investment pool) The General Fund $75.9 million. Had 3.9 million increase in property taxes in 06/07 - cash revenue may decrease slightly. In last 18 months - Carlsbad is envy o fmost cities - an outstanding feat.
Predictions - Investment portfolio will increase to $560 million - continued fiscal conservative, no more unfunded mandates and State doesn't take any more money. State is talking about a deficit.
State is restricted under Proposition 1A.
Global economy has been strongest in 30 years.
Strong employment and interest rates remained stable throughout the year.
Carlsbad - have about 123 million in bonds maturing - a like amount will be called - the $240 million will be reinvested at a lower rate (prediction).
Through June 08 portfolion might fall to 4.25 from 4.37% End of presentation.
Packard - how does our portfolio this year compare to other agencies locally and others in the state. Not many have the strategy we have said McSherry. Our portfolio has consistently out performed others.
OUr portfolio does not require a response.We are doing significantly better than 85 to 90 percent of counties and cities outthere. Their total yield probably about 4% which isn't bad.
Hall - thanked Mr. McSherry and for clarification relating sub prime.
Lewis - have water issues impacted the reports.
Concern of loss of jobs? McSherry - a lot in literature (China has) global warming having effect on water.
Received Report.
Council Reports Now.
L.Wood made an announcements - I have these.
Adjourn at 7:36 p.m. in honor of Tony Mata.
PUBLIC COMMENT: Continuation of the Public Comments (if necessary)
The remainder of the categories are for reporting purposes. In conformance with the Brown Act, no public testimony and no Council action can occur on these items.
Dec 18, 2007 City Council and Carlsbad Public Finance Authority Meeting
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CALL TO ORDER: 6:00 P.M.
ROLL CALL:
Roll call (5 Present, 0 Absent, 0 Excused) (Recorded at 00:02:38)
INVOCATION:
By Lewis
PLEDGE OF ALLEGIANCE:
Packard
APPROVAL OF MINUTES:
Minutes of the Special Meeting held December 4, 2007.
Minutes of the Regular Meeting held December 4, 2007.
Motion to approve Minutes of the Regular Meeting held December 4, 2007. Moved by Mayor Lewis, seconded by Council Member Hall.
Vote to approve Minutes of the Regular Meeting held December 4, 2007. (Approved) (Recorded at 00:04:10)
CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed.
#2, 12 and 14 pulled for discussion.
Motion to approve CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed. Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed. (Approved) (Recorded at 00:04:54)
Except 2, 12 and 14
WAIVER OF ORDINANCE TEXT READING: This is a motion to waive the reading of the text of all ordinances and resolutions at this meeting.
PLEASE NOTE: SOME AGENDA BILLS MAY TAKE SEVERAL MINUTES TO BE DISPLAYED.
1. AB #19,252 - DEFERRED COMPENSATION PLAN FOR FIRE SAFETY EMPLOYEES. Establishing a Deferred Compensation Plan for Fire Safety eligible employees. Resolution No. 2007-313. ACTION:
AB19,252
2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library's 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION:
AB19,253
Motion to approve 2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library\'s 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 2. AB #19,253 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of the Carlsbad Library for the Carlsbad Library's 2008 Summer Reading Program, and acknowledging a pledge for additional support. Resolution No. 2007-314. ACTION: (Approved) (Recorded at 00:05:24)
3. AB #19,254 - COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) AND HOME INVESTMENT PARTNERSHIP (HOME) FUNDING ADVISORY COMMITTEE APPOINTMENTS. Appointing members to the City of Carlsbad's Community Development Block Grant and Home Investment Funding Advisory Committee. Resolution No. 2007-315. ACTION:
AB19,254
4. AB #19,255 - EASEMENT VACATION Summarily vacating a public sewer and access easement over a portion of APN 209-060-10, PR 07-96. Resolution No. 2007-316. ACTION:
AB19,255
5. AB #19,256 - RATIFICATION OF REIMBURSEMENT AGREEMENT. Approving the ratification of a reimbursement agreement with Calavera Hills II, LLC, for traffic signal improvements at the intersection of College Boulevard and Carlsbad Village Drive. Resolution No. 2007-317. ACTION:
AB19,256
6. AB #19,257 - NOTICE OF COMPLETION. Accepting the installation of the Stagecoach Park Synthetic Turf Field by Western Rim Construction, Inc. as complete and directing the City Clerk to file a Notice of Completion, Contract No. 39371, Project No. PKS 04-03. Resolution No. 2007-318. ACTION:
AB19,257
7. AB #19,258 - EASEMENT VACATION. Summarily vacating a public drainage easement over a portion of APN 205-051-08, PR 07-117. Resolution No. 2007-319. ACTION:
AB19,258
8. AB #19,259 - RATIFICATION OF REIMBURSEMENT AGREEMENT. Approving the ratification of a reimbursement agreement with Bressi Gardenlane, LLC for traffic signal improvements at the intersection of Poinsettia Lane and El Fuerte Street, Project No. 3946. Resolution No. 2007-320. ACTION:
AB19,259
9. AB #19,260 - ACCEPTANCE OF GRANT. Accepting a DUI mini-grant from the California Office of Traffic Safety and appropriating funds to conduct two sobriety checkpoints in the City of Carlsbad. Resolution No. 2007-321. ACTION:
AB19,260
10. AB #19,261 - MEMORANDUM OF UNDERSTANDING. Approving the Memorandum of Understanding between the City of Carlsbad and Carlsbad Unified School District for the School Resource Office (SRO) Program for the 2007-08 school year. Resolution No. 2007-322. ACTION:
AB19,261
11. AB #19,262 - AWARD OF CONTRACT. Approving the contract with Teleque on Fire to replace fire station alerting systems at Fire Station Nos. 1, 2, 3, 4 and 5. Adopting Resolution No. 2007-323. ACTION:
AB19,262
12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION:
AB19,263
Recreation Services Manager Mick Calarco came forward to address Council. Mr. Calarco spoke about volunteer George Woolrdige and success. Mr. Woolrdige and Mr. Kindle made signage to identify areas of park. Hand made, painted and stained (26 signs in all) 150 volunteer hours and $500 donation from Friends of Carrillo Ranch. Introduced Mr. Woolridge. stated that he enjoyed making the signs and making it easier to get around at Ranch.
Council thanked Mr. Woolridge.
Motion to approve 12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 12. AB #19,263 - ACCEPTANCE OF DONATION. Accepting a donation from the Friends of Carrillo Ranch, Inc., to the Leo Carrillo Ranch Historic Park. Resolution No. 2007-324. ACTION: (Approved) (Recorded at 00:08:56)
13. AB #19,264 - MEMORANDUM OF UNDERSTANDING. Approving the Memorandum of Understanding between the City of Carlsbad and the Municipal Storm Water Copermittees as required by the San Diego Regional Water Quality Control Board National Pollutant Discharge Elimination System Order No. R9-2007-0001. Resolution No. 2007-325. ACTION:
AB19,264
14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION:
AB19,265
Michele Levy, 3021 Highland Drive, came forward to address Council. Asked why we are planning for park and not Fire Department Master Plan. Want to plan for safety. Encouraged Council to plan for safety with Master Plan for the Fire Department.
Council Member Packard stated that he will vote no and would like to hold off on item period.
Motion to approve 14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 14. AB #19,265 - REJECTION OF BIDS. Rejecting all bids received for the construction of Alga Norte Community Park, and authorizing the City Clerk to re-advertise for bids, Project Nos. 3837 and 3925. Resolution No. 2007-326. ACTION: (Approved) (Recorded at 00:11:23)
Listen to Lewis closed Session Announcement . . . . have verbiage relating Regional Water Quality Control Board.
Mayor Lewis made Closed Session Announcement.
Remember Packard made motion with NO SECOND!!!!
ORDINANCES FOR INTRODUCTION:
15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION:
AB19,266
City Attorney Ron Ball titled the Ordinances.
Motion to approve 15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 15. AB #19,266 - AMENDMENTS TO THE CARLSBAD MUNICIPAL CODE. To consider amending Title 17, Chapter 17.04 and Title 18, Chapters 18.04, 18.08, 18.12, 18.16, and 18.30 of the Carlsbad Municipal Code and to adopt by reference the 2007 Editions of the California Fire Code, the California Building Code, the California Mechanical Code, the California Electrical Code, the California Plumbing Code, and the California Energy Code; and, To consider setting a Public Hearing for January 8, 2008. Introduction of Ordinance No. NS-868. Introduction of Ordinance No. NS-869. Introduction of Ordinance No. NS-870. Introduction of Ordinance No. NS-871. Introduction of Ordinance No. NS-872. Introduction of Ordinance No. NS-873. ACTION: (Approved) (Recorded at 00:14:25)
ORDINANCES FOR ADOPTION:
16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION:
AB19,267
City Attorney Ron Ball titled the Ordinance.
Motion to approve 16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 16. AB #19,267 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-866, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.540 to establish a prima facie 40 mile per hour speed limit on Armada Drive from Palomar Airport Road to its intersection with Legoland Drive. ACTION: (Approved) (Recorded at 00:15:15)
17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION:
AB19,268
City Attorney Ron Ball titled the Ordinance.
Motion to approve 17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 17. AB #19,268 - REVISE PRIMA FACIE SPEED LIMIT. Adopting Ordinance No. NS-867, amending Title 10, Chapter 10.44, of the Carlsbad Municipal Code by the revision of Section 10.44.130 to establish a prima facie 40 mile per hour speed limit on Marron Road from El Camino Real to Highway 78. ACTION: (Approved) (Recorded at 00:16:09)
PUBLIC COMMENT: In conformance with the Brown Act, no Council action can occur on items presented during Public Comment. A total of 15 minutes is provided so members of the public can address the Council on items that are not listed on the Agenda. Speakers are limited to three (3) minutes each. If you desire to speak during Public Comment, fill out a SPEAKER CARD and place it in the clear tray on the wall adjacent to the Deputy City Clerk. If there are more than five (5) speakers, the remaining speakers will be heard at the end of the agenda just prior to Council Reports. When you are called to speak, please come forward and state your name and address.
Michele Levy, 3021 Highland Drive, Carlsbad, came forward to address Council. Expressed concerns relation to tax dollars used for publications relating to Proposition D. Ms. Levy spoke in support of establishing a Fire Department Master Plan.
PUBLIC HEARING:
18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION:
AB19,269
Senior Planner Christer Westman presented the staff report and reviewed a PowerPoint Presentation (on file in the Office of the City Clerk). Mr. Westman gave an overview of the proposed project and the project site.
Showed Master Plan of Bressi Village.
Project is on 2.5 acres - 6 buildings (4 free standing with one and two bedroom units). A common building. Underground garage with 106 parking stalls and 14 tandem parking spaces. An administration activity building/at grade parking outside administration building. Has pool and spa.
Contains interior courtyards.
No comments received from Public. One member of public asked questions at Planning Commission Public Hearing. Staff is recommending approval of project.
End of staff presentation.
Applicant called forward. Bill Hofman, Hofman Planning and Engineering 3192 Lionshead, Carlsbad, came forward to address Council. Requested that Council approve project.
Council Member Hall asked Kevin ?, this is a for sale unit? Yes said Kevin. Buyer will own unit? Yes, said Kevin and will pay a monthly service fee for any services. Can sell at any time? Yes said Kevin.
Lewis confirmed age restriction (62 years of age per Kevin). Lewis - will allow someone with medical deficiencies. Kevin, yes will have staff to provide assisted leaving.
Open PH at 6:22 p.m.
Close PH at 6:22 p.m.
Nygaard - excited about project. Great addition to the community.
Packard - project fills need in community. Kulchin - agree with colleagues.
Motion to approve 18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 18. AB #19,269 - CONTINUING CARE FACILITY AT BRESSI RANCH. To consider approving a Tentative Tract Map, CT 06-19, a non-residential Planned Development Permit, PUD 06-16 and a Conditional Use Permit CUP 06-17, to develop a professional care facility with 86 individual ownership condominium units, an 11-room assisted care unit, basement parking garage and common dining and recreation rooms on a 2.5 acre property located in Planning Area 15 of the Bressi Ranch Master Plan, north of Paradise Road, south of Towngarden Road, east of Cottage Drive and west of Nygaard Street. Resolution No. 2007-327. ACTION: (Approved) (Recorded at 00:27:20)
ADJOURNMENT TO THE PUBLIC FINANCING AUTHORITY MEETING
AT 6:23
CALL TO ORDER:
ROLL CALL:
CONSENT CALENDAR: The items listed under Consent Calendar are considered routine and will be enacted by one motion as listed. There will be no separate discussion on these items prior to the vote, unless an item is removed.
WAIVER OF ORDINANCE TEXT READING: This is a motion to waive the reading of the text of all ordinances and resolutions at this meeting.
1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION:
AB33
Michele Levy, 3021 HIghland Drive, Carlsbad, came forward to address Council. Ms. Levy expressed concerns relating to $$ spent on golf course. Encouraged Council to establish a Fire Department Master Plan.
Motion to approve 1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 1. AB #33 - AMENDMENT TO CONTRACT. Approving Amendment No. 2 to the agreement with Douglas Fredrikson Architects for building architecture construction phase services for The Crossings at Carlsbad Golf Course, Project No. 39721-3. Resolution No. 41. ACTION: (Approved) (Recorded at 00:29:46)
ADJOURNMENT TO THE CONTINUATION OF THE CITY COUNCIL MEETING
AT 6:26 p.m.
DEPARTMENTAL AND CITY MANAGER REPORTS:
19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION:
AB19,270
Bob Johnson, Deputy Public Works Director presented the staff report and reviewed a PowerPoint presentation (on file in the Office of the City Clerk).
Mr. Johnson explained that the establishment of the Carlsbad Residential Traffic Management Program was by a citizens committee.
Mr. Johnson explained the Phase (PAOI project area of influence - part of phase II). PaOI neighborhood support pedtion shows interest. Signed by simple majority (50% plus one).
Streets under consideration are called Candidate Streets and are evaluated on established factors. Each facotr has associted points based upon threshold levels.
Priority Scoring worksheet - 100 points based on following 6 factors: 1. Travel Speed (40 points) 2. Traffic volumes (30 points) 3. Collision history - (10 points) 4. Sidewalks (5 points) 5. School Proximity (5 points) 6. Pedestrian Crossings (10 points)
Mr. Johnson stated that Donna Drive is a selected street.
Second Street was Sierra Morena Avenue from Trieste Drive to Milano Drive. Recieved enough support to go into priority ranking.
Reviewed Next Steps in Program - Council asked to review and approve rankings. Funding would be considered during Annual Budget process.
Streets will remain on list for three years.
Streets are eligible for funding for three years then would drop off.
End of staff presentation. Packard - if Resolution is approving priority ranking list.
Since no funding set aside, not sure if Council is interested in placing streets on list.
Nygaard - is there a minimum of points. Johnson - at time program developed (over a 12 month period) with 7 citizens and staff - no minimum point criteria discussed or anticipated.
Nygaard - can we take a look at the issue? Johnson - could be studied and a methodology to make changes would require returning to Traffic Safety Commission and then back to Council. (Traffic Calming Program).
Nygaard - requests for stop signs . . . goes to traffic commission and then overturned by Council. Look at process. Council excluded stop signs for traffic calming.
Staff could study on residential streets.
Lewis - commented that staff is recommending what is recommended by citizens and commissions. Hall - police enforcement - could be associated with high school? Johnson - an issue of concern.
Hall - how often would PD patrol the area for enforcement? Johnson - pretty active - shown their presence. A speed sentry showing speed of vehicles.
Residents can jot down licence numbers and submit to Police Department.
Police will send letter to registered owner.
Tom Flannagan, 3342 Donna Drive, expressed concerns relating to speed on Donna Drive. Police cannot enforce - not enough. Can't get licence plate numbers because they are going too fast.
Hall - would like to narrow street - any other solutions ? Mr. Flannagan asked Council to consider data - maybe a traffic circle on Basswood.
Lewis - staff should come up with plan.
Mr. Harris, lived on Donna Drive for 3 years. Alarmed at how fast cars go on Donna Drive. Impressed with 1st, 2nd, and 3 rd meetings held at his house. Impressive of how much frustration and fear people lived under due to high rate of speed.
Motorcycles doing wheelies down the road.
Motion to approve 19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION: Moved by Mayor Pro Tem Kulchin, seconded by Council Member Hall.
Vote to approve 19. AB #19,270 - CARLSBAD RESIDENTIAL TRAFFIC MANAGEMENT PROGRAM 2007 PRIORITY RANKING OF CANDIDATE STREETS. To consider approving the Carlsbad Residential Traffic Management Program 2007 Priority Ranking of Candidate Streets. Resolution No. 2007-328. ACTION: (Approved) (Recorded at 01:06:23)
20. AB #19,271 - ANNUAL REPORT OF INVESTMENT PORTFOLIO. To receive the City Treasurer's Annual Report of Investments for fiscal year ending June 30, 2007. ACTION:
AB19,271
City Treasurer Harold McSherry came forward to address Council relating to report on City Investment Portfolio. Presented the report and reviewed the PowerPoint Presentation (on file in the Office of the City Clerk).
Spoke about LAIF -
DO NOT BE CONCERNED WITH LAIF. Look at Federal Agencies
Reviewed Federal Funds Target Rate
Buy and hold strategy by City of Carlsbad. Portfolio has increased steadily and significantly - revenues have exceeded costs. Currently at $556.5 million.
Cash and Investments Relative to Total Assets of City and its agencies. Have S curve.
Cash/Investments = $560 million for 07/08
Source of Assets (internal investment pool) The General Fund $75.9 million. Had 3.9 million increase in property taxes in 06/07 - cash revenue may decrease slightly. In last 18 months - Carlsbad is envy o fmost cities - an outstanding feat.
Predictions - Investment portfolio will increase to $560 million - continued fiscal conservative, no more unfunded mandates and State doesn't take any more money. State is talking about a deficit.
State is restricted under Proposition 1A.
Global economy has been strongest in 30 years.
Strong employment and interest rates remained stable throughout the year.
Carlsbad - have about 123 million in bonds maturing - a like amount will be called - the $240 million will be reinvested at a lower rate (prediction).
Through June 08 portfolion might fall to 4.25 from 4.37% End of presentation.
Packard - how does our portfolio this year compare to other agencies locally and others in the state. Not many have the strategy we have said McSherry. Our portfolio has consistently out performed others.
OUr portfolio does not require a response.We are doing significantly better than 85 to 90 percent of counties and cities outthere. Their total yield probably about 4% which isn't bad.
Hall - thanked Mr. McSherry and for clarification relating sub prime.
Lewis - have water issues impacted the reports.
Concern of loss of jobs? McSherry - a lot in literature (China has) global warming having effect on water.
Received Report.
Council Reports Now.
L.Wood made an announcements - I have these.
Adjourn at 7:36 p.m. in honor of Tony Mata.
PUBLIC COMMENT: Continuation of the Public Comments (if necessary)
The remainder of the categories are for reporting purposes. In conformance with the Brown Act, no public testimony and no Council action can occur on these items.
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