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Home My Public Portal About2023-01-17-Lynwood_Agenda_RegularThis Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200. Procedures for Addressing the Council IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO CITYCLERK@LYNWOOD.CA.US OR FILL OUT A FORM PROVIDED AT THE PODIUM, AND TO TURN IT IN TO THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS CONSENT OF THE COUNCIL. AGE N D A City Council Regular Mee ting TO BE HE L D ON January 17, 2023 CO U N C I L C H A MB ERS - 11350 BULLI S RD. LY NWOOD, CA 90262 or We b confe rence via ZOO M - To participate v ia Zoom or by telephone : 1-669-900-9128 or 1-253-215-8782 Mee ting I D: 835 2029 8238 Duly Poste d on 1/12/2023 By MQ 6:00 PM 1.C ALL TO OR D ER 2.C E R T IF IC ATION OF AGE N D A P OS T IN G B Y C ITY C LER K 3.R OL L C AL L OF C OU N C IL ME MB E R S O scar F lores, Mayor R ita S oto, Mayor P ro Tem Gabriela C amacho, C ouncil Member Juan Munoz-Guevara, C ouncil Member Jos e Luis S olache, C ouncil Member 4.P L E D GE OF AL LEGIAN C E 5.IN V OC AT ION 6.P R E S E N TATION S/P R OC L AMAT ION S Update on Law E nforcement Issues C ity C ouncil Members Reporting on Meetings A ttended (Gov. C ode S ection 53232.3 (D )). C ity Video(s) 7.C OU N C IL R E C ESS TO: Lynwood S uccessor Agency City Council Regular Meeting - Page 1 of 124 Lynwood Housing Authority Lynwood P ublic Financing Authority P U B L IC OR AL C OMMU N IC AT ION S (Regarding Agenda Items Only) N ON-AGE N D A P U B LIC OR AL C OMMU N IC AT ION S THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE COUNCIL ON ITEMS WITHIN THE JURISDICTION OF THE COUNCIL AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION OF THE ISSUE BY THE COUNCIL, BUT COUNCIL MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54954.2 (a).) C ON SEN T C AL E N D AR ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION. 8.AP P R OVAL OF T H E WAR R AN T R E GIS TE R Comments: C ity of Lynwood warrant register dated J anuary 17, 2023 F Y 2022-2023. (F IN) Recommendation: S taff respectfully recommends that the C ity C ouncil of the C i ty of Lynwood approve the warrant register dated J anuary 17, 2023 for F Y 2022-2023. 9.T R E AS U R E R'S MON T H LY IN V E S T ME N T R E P OR T Comments: The purpose of this item is to have the Honorable Mayor and the Lynwood C ity C ouncil review the Treasurer ’s Monthly Investment Report as requi red by S tate S tatutes. (C T) Recommendation: The following is the Investment Report for the month ending D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is informed of the D epartment’s investment activities. The report satisfies the recommended reporting requi rements of the C ity of Lynwood, which addresses the C ity C ouncil’s request for monthly financial information. It is recommended that the C ity C ouncil for the C ity of Lynwood receive and fi le the attached Monthly Investment Report. 10.AU TH OR IZIN G R ESOL U T ION TO S E C U R E S P E C IF IED GR AN T F U N D S S U P P OR TIN G TH E U R B AN B IK E T R AIL S AN D WATER QU ALIT Y IMP R OV E ME N TS P R OJE C T Comments: T he purpos e of this item is to have the Lynwood C ity C ouncil adopt the accompanying R es olution as part of the formal proc es s needed to accept and access Specified Grant funding awarded to supporting the Urban B ike Trails and Water Q uality Improvements project. Per grant requirements, an authoriz ing resolution from the C ity’s governing body is required to approve the filing of all applications associated with this grant program and its contracts and to identify our agency’s authoriz ed representative/s. (R E C ) City Council Regular Meeting - Page 2 of 124 Recommendation: S taff recommends that the C ity C ounci l consider this A genda S taff Report and adopt the attached resolution entitled: “RE S O L UTION OF THE C ITY C O U N C IL OF THE C ITY OF LYNW O OD A P P ROV ING A P P L IC ATIO N(S ) F OR S P E C IF IE D GRA NT F UND S F RO M B UD GE T A C T 2022/23.” N E W/OLD B U S IN E S S 11.2023 LYN WOOD 5K R U N/WAL K Comments: The Lynwood P artners E ducational F oundation (L P E F ) is proposing to partner with the C ity of Lynwood to offer the 2023 Lynwood 5K Run/Walk event to take place on May 13th, 2023 on Lynwood city streets. In continuing the success of the 2022 event, the 2023 event aims to provide a significant communi ty-building program that also raises funds to support scholarships and student support programs directly benefitting Lynwood youth. S taff is requesting authority from the C ity C ouncil to partner with the L P E F, appropriate funding i n support of the event and to temporarily close designated streets and public areas that will make up the fi nal road course. S taff requests an approval of a total amount not to exceed $20,000. (RE C ) Recommendation: S taff recommends that the C ity C ouncil adopt the attached resolution entitled: “A R E S OL UTIO N O F THE C ITY C O UNC IL O F THE C ITY OF LYNW OOD A UTHO R IZIN G TH E LYNW O OD 5K RUN/WA L K P ROGRA M A ND A P P RO V ING A TOTA L A MO UNT NOT TO E X C E E D $20,000 TO S UP P ORT THE P RO GRA M.” 12.C IT Y C OU N C IL D IS C U S S ION AN D GU ID AN C E R E GAR D IN G TH E S E L E C T ION AN D AP P OIN T ME N T OF C IT Y T R E AS U R E R Comments: The C ity Treasurer position has become vacant with the electi on of Gabriela C amacho to the C i ty C ounci l. Under Government C ode S ection 36512(b), the C ity must either appoint a person or call for a speci al election to fill the vacancy withi n 60 days of the commencement of the vacancy. (Government C ode S ecti on 36512.) The vacancy commences when the C ity Treasurer takes the oath of offi ce as a C ouncil Member. Recommendation: S taff recommends that the C ity C ouncil discuss and provide guidance regarding the selecti on and appoi ntment of C ity Treasurer. C ity C ouncil Options: The C i ty C ouncil has the following options: 1. A ccept and review the applications submitted and make appointment for C ity Treasurer. 2. A ccept and revi ew the applications submitted. S chedule a S pecial C ity C ouncil Meeting to conduct i nterviews and make an appointment for C ity Treasurer by F ebruary 4, 2023. 3. Accept and review the applications submitted. C reate an ad hoc comm ittee that will interview and make recommendations to the C ity C ouncil on appointment of the C ity Treasurer by February 4, 2023. 4. C ity C ouncil may provide alternative direction. 13.R E V IE W OF B OAR D , C OMMIS S ION AN D C OMMITT E E ME MB ER S & AN N U AL B OAR D S , C OMMIS S ION S AN D C OMMITT E E S LOC AL AP P OIN T ME N T L IS T City Council Regular Meeting - Page 3 of 124 Comments: Revi ew of B oard and C ommission Members & A nnual B oards and C ommissions L ocal A ppointment L ist. (C C ) Recommendation: S taff recommends that the C ity C ouncil review the list of B oard and C ommission members. C urrently, there are various vacancies to the B oards and C ommissions including the C ommuni ty D evelopment B lock Grant B oard, P ublic S afety/Traffic & P arking C ommission, P ersonnel B oard, P lanning C ommission and the C itizens Oversight C ommittee. In accordance with the rules outlined below, the C ity C ounci l may make any adjustments to these B oards and C ommi ssi ons, as it deems appropriate. A ddi ti onally, staff recommends that the C ity C ounci l di rect staff to post the attached Lynwood B oards and C ommission A ppointment L ist pursuant to Government C ode S ection 54970 requirements. 14.C IT Y C OU N C IL OR AL AN D WR IT T E N C OMMU N IC AT ION 15.S TAFF OR AL C OMME N T S AD J OU R N ME N T THE NE X T RE G U L A R ME E TING W IL L B E H E L D ON F E B R U A RY 7, 2023 AT 6:00 P.M. IN THE C OUNC IL C H A M B E R S O F THE C ITY HA L L A N N E X , 11350 B UL L IS RO A D , C ITY OF LYNW O OD , C A L IF ORNIA . City Council Regular Meeting - Page 4 of 124 A genda I tem # 8. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Harry Wong, D irector of F inance & A dministration L illy Hampton, S enior A ccounting Technician S U B J E C T: A P P ROVA L OF TH E WA RRA NT RE GIS TE R Recommendation: S taff respectfully recommends that the C ity C ouncil of the C ity of Lynwood approve the warrant regi ster dated January 17, 2023 for F Y 2022-2023. Background: N/A Discussion and Analysis: N/A Fiscal Impact: F Y 2022-2023 Coordinated With: C ity Manager C ity A ttorney AT TAC H ME N T S: Description WAR R AN T R U N 01 17 2023 R E S OL U T ION ITEM City Council Regular Meeting - Page 5 of 124 apCkHist 01/11/2023 10:08AM Bank code: apbank Void Check# Date Vendor 206436 12/20/2022 012886 GULLERMINA OLEA 1 checks in this report Void-Check Listing City of Lynwood Status ClearNoid Date Reason-Void Reissue Inv. Date Amount Paid 01/05/2023 ERROR GENERATING 07/16/2020 800.00 apbank Total: Total Checks: Page: 1 Check Total 800.00 800.00 800.00 Page:1 City Council Regular Meeting - Page 6 of 124 vchlist 01/02/2023 Bank code: Voucher 206471 206472 206473 206474 206475 206476 206477 206478 7:50:49AM apbank Date Vendor 12/15/2022 013522 AMN MANAGEMENT, INC 12/15/2022 012148 BARRERA, JACOB 12/15/2022 000955 CENTRAL BASIN MUNICIPAL WATER 12/15/2022 013526 DOWNEY PARTY RENTALS 12/15/2022 007606 LOPEZ, JUAN 12/15/2022 008216 NOVA STORAGE 12/15/2022 000163 SOUTHERN CALIFORNIA EDISON 12/15/2022 013084 LE, JESSICA 8 Vouchers for bank code : apbank 8 Vouchers in this report Prepaid-Check List City of Lynwood Invoice --------- 8 9 CL026 LYN-NOV22 1-002202 024 008216-022823 000163121422 Ben149932 PO# 06-009793 06-009794 01-001751 06-009601 08-005001 02-002651 Description/Account PROF & CONTRACTUAL SERVICE PROF & CONTRACTUAL SERVICE Total : PROF & CONTRACTUAL SERVICE Total: IMPORTED DRINKING WATER Total: COMMUNITY ACTIVITY EXPENSE Total: COMMUNITY ACITIVITY EXPENSE Total: STORAGE FEE Total: LIGHT & POWER SERVICE Total: PAYROLL DEDUCTION PAYMENT Total: Bank total: Total vouchers : Page: 2 Amount 16,335 .00 22.475.00 38,810.00 3,750.00 3,750.00 10,959.84 10,959.84 635.25 635.25 750 .00 750.00 1,178 .00 1,178.00 26,012 .95 26,012.95 293 .00 293.00 82,389.04 82,389.04 Page: 2 City Council Regular Meeting - Page 7 of 124 vchlist 01/11/2023 10:32:43AM Bank code: apbank Voucher 206479 206480 206481 206482 206483 206484 206485 206486 206487 206488 Date Vendor 12/19/2022 002699 CONTROL BOARD, STATE WATER 12/20/2022 001087 FANTASY FLOWERS AND GIFTS 12/20/2022 013721 MUNOZ-GUEVARA, JUAN 12/20/2022 013494 ROLANDO ENRIQUE MORA 12/20/2022 011963 WEX BANK 12/21/2022 011944 RELATIONS, DEPARTMENT OF 12/21/2022 007782 CAMACHO, GABRIELA 12/21/2022 013721 MUNOZ-GUEVARA, JUAN 12/21/2022 013719 POPESCU, ELIZABETH 12/21/2022 008668 SOLACHE, JOSE LUIS 10 Vouchers for bank code : 10 Vouchers in this report apbank Prepaid-Check List City of Lynwood Invoice SW-0243196 WD-0214198 WD-0214778 2401 2402 2418 013721-123122 LWD1006 85751807 OSIP 70333 007782-011023 013721-011123 013719-110422 008668-011123 PO# ------- 01-001770 01-001743 01 -001743 01-001734 06-009598 05-001949 Description/Account ANNUAL PERMIT FEES ANNUAL PERMIT FEES ANNUAL PERMIT FEE Total : COMMUNITY ACTIVITY EXPENSE COMMUNITY ACTIVITY EXPENSE COMMUNTIY ACTIVITY EXPENSE Total : Page: 3 Amount 26,498.00 18,512.00 794.00 45,804.00 242.55 782.78 88 .20 1,113.53 ELECTRONIC/MEDIA AND AUTO EXPENSES 500.00 Total: FILMING SERVICES Total : VEHICLE EXPENSE Total: PROF & CONTRACTUAL SERVICE Total: REIMBURSEMENT CONFERENCE Total: REIMBURSEMENT CONFERENCE Total: REIMBURSEMENT CONFERENCE Total: REIMBURSEMENT CONFERENCE Total: Bank total: Total vouchers : 500.00 1,500.00 1,500.00 13,686.30 13,686.30 13,610.06 13,610.06 172.50 172.50 241.50 241 .50 599.38 599.38 241 .50 241.50 77,468.77 77,468.77 Page : 3 City Council Regular Meeting - Page 8 of 124 vchlist Prepaid-Check List Page : 4 01/11/2023 7:48:02AM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206489 1/5/2023 007782 CAMACHO, GABRIELA 007782-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00 206490 1/5/2023 009302 CHESSER , CHRISTINE 101 PROF & CONTRACTUAL SERVICE 600.00 Total : 600.00 206491 1/5/2023 000702 CINTAS DOCUMENT MANAGEMENT 8405956899 05-001939 REPLENISH FIRST AID CABINET 41.72 Total : 41.72 206492 1/5/2023 013702 GOOD GUARD SECURITY INC 9430 08-005070 PROF & CONTRACTUAL SERVICE 7,736 .32 9595 08-005070 PROF & CONTRACTUAL SERVICE 14,505 .60 9609 08-005070 PROF & CONTRACTUAL SERVICE 14,505 .60 Total : 36,747.52 206493 1/5/2023 000403 INDEPENDENT CITIES ASSOCIATION 1198 MEMBERSHIP DUES 3,531 .75 Total : 3,531.75 206494 1/5/2023 013434 KILEY & ASSOCIATES,LLC 16 01-001745 PROF & CONTRACTUAL SERVICE 5,000.00 Total : 5,000.00 206495 1/5/2023 009041 LOYA, RUUD AND ROMO, ATKINSON, 666037 05-001942 LEGAL SERVICES 187.68 Total: 187.68 206496 1/5/2023 013721 MUNOZ-GUEVARA, JUAN 013721-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500 .00 Total: 500.00 206497 1/5/2023 000078 ODP BUSINESS SOLUTIONS ,LLC 279295464001 05-001940 OFFICE SUPPLIES 259 .33 Total : 259.33 206498 1/5/2023 012692 SOTO, RITA 012692-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00 206499 1/5/2023 000163 SOUTHERN CALIFORNIA EDISON 000163010223 LIGHT & POWER SERVICES 33,885.02 Total: 33,885.02 206500 1/5/2023 000164 THE GAS CO . 000164010223 GAS SERVICES 2,501.89 Page : 4 City Council Regular Meeting - Page 9 of 124 vchlist 01/11/2023 7:48:02AM Bank code : apbank Voucher 206500 206501 206502 206503 206504 206505 206506 Date Vendor 1/5/2023 000164 000164 THE GAS CO . 1/5/2023 001302 U.S . BANK 1/5/2023 011927 AMERICAN FIDELITY ASSURANCE CO 1/5/2023 013398 AMERICAN FIDELITY ASSURANCE CO 1/5/2023 013463 CITY EMPLOYEES ASSOCIATES, LLC 1/5/2023 010048 LEGAL SHIELD 1/5/2023 013084 LE, JESSICA 18 Vouchers for bank code : 18 Vouchers in this report apbank Prepaid-Check List City of Lynwood Invoice (Continued) 001302-121522 001302-121522-A 001302-121522-8 001302-121522-C 001302-121522-D 001302-121522-E 001302-121522 -F 001302-121522-G Ben149577 Ben149924 Ben149589 Ben149930 Ben149585 Ben149926 Ben149587 Ben149928 Ben149994 PO# Page : 5 Description/Account Amount Total : 2,501.89 BANKCARD CHARGES 3,497 .99 BANKCARD CHARGES 1,655 .23 BANKCARD CHARGES -222.44 BANKCARD CHARGES 2,032 .73 BANKCARD CHARGES 86.40 BANKCARD CHARGES 183 .00 BANKCARD CHARGES 1,392 .53 BANKCARD CHARGES 9,681 .93 Total: 18,307.37 ACCIDENT PRETAX : PAYMENT 1,733 .15 ACCIDENT PRETAX : PAYMENT 1,733 .15 Total : 3,466.30 HEALTH FSA PRE-TAX : PAYMENT 577 .89 HEAL TH FSA PRE-TAX : PAYMENT 577.89 Total : 1,155.78 MGMT. ASSOCIATION DUES : 175 .00 MGMT. ASSOCIATION DUES: 175 .00 Total : 350.00 PAYROLL DEDUCTION PAYMENT 49 .84 PAYROLL DEDUCTION : PAYMENT 49 .84 Total: 99.68 JESSICA HERRERA: PAYMENT 293 .00 Total: 293.00 Bank total: 107,927.04 Total vouchers : 107,927.04 Page : 5 City Council Regular Meeting - Page 10 of 124 vchlist Check List Page: 6 01/11/2023 5:31:29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206507 1/17/2023 007439 ALL CITY MANAGEMENT SVCS, INC . 81322 11 -002148 PROF & CONTRACTUAL SERVICES 15 ,358 .14 81675 11 -002148 PROF & CONTRACTUAL SERVICES 8 ,532 .30 82065 11-002148 PROF & CONTRACTUAL SERVICES 17,064 .60 Total : 40,955.04 206508 1/17/2023 010746 ALVAREZ-GLASMAN & COLVIN 2022-10-20530 02-002622 LEGAL SERVICES 5,540 .50 2022-10-20530-1 02-002622 LEGAL SERVICES 8,030 .00 2022-10-20530-2 02-002622 LEGAL SERVICES 66 .00 2022-10-20530-3 02-002622 LEGAL SERVICES 14,384 .01 2022-10-20531 01-001747 LEGAL SERVICES 2,706.00 2022-10-20532 02-002622 LEGAL SERVICES 475 .00 Total: 31,201.51 206509 1/17/2023 002452 AMERICAN LANGUAGE SVCS . 72202 01-001732 PROF & CONTRACTUAL SERVICES 515 .70 Total : 515.70 206510 1/17/2023 012693 ANIMAL EMERGENCY, LONG BEACH 676166 11-002169 ANIMAL EMERGENCY 24 .32 677300 11-002169 ANIMAL EMERGENCY 2 ,488 .16 678022 ;678055 11-002169 ANIMAL EMERGENCY 1,071.43 678050 11-002169 ANIMAL EMERGENCY 346 .03 678051 11-002169 ANIMAL EMERGENCY 373 .95 678052 11-002169 ANIMAL EMERGENCY 382 .02 678191 11-002169 ANIMAL EMERGENCY 153.47 678308 11-002169 ANIMAL EMERGENCY 277.20 678753-678858 11-002169 ANIMAL EMERGENCY 2,090 .82 679153 11-002169 ANIMAL EMERGENCY 855 .90 679168 11-002169 ANIMAL EMERGENCY 433.26 679250 ;679276 11-002169 ANIMAL EMERGENCY 599 .07 679251 11-002169 ANIMAL EMERGENCY 620 .05 680161 11-002169 ANIMAL EMERGENCY 153.47 680372 11-002169 ANIMAL EMERGENCY 191.40 680652 11-002169 ANIMAL EMERGENCY 258 .08 680939 ;680916; 680962 11-002169 ANIMAL EMERGENCY 1,038.90 681186 11-002169 ANIMAL EMERGENCY 459.97 681932 11-002169 ANIMAL EMERGENCY 153.47 Page: 6 City Council Regular Meeting - Page 11 of 124 vchlist Check List Page: 7 01/11/2023 5:31:29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206510 1/17/2023 012693 012693 ANIMAL EMERGENCY, LONG BEACH (Continued) Total: 11,970.97 206511 1/17/2023 000012 AQUA METRIC SALES CO. INV0092391 06-009414 ADVANCED METERING 79 ,909 .20 INV0092392 06-009414 ADVANCED METERING 214,370.11 Total: 294,279.31 206512 1/17/2023 013290 ARTURO RAMIREZ 013290-121322 11-002150 PLANNING COMMISSIONER 50 .00 Total : 50.00 206513 1/17/2023 004285 AVANT GARDE, INC. 7596 06-008879 PROF & CONTRACTUAL SERVICES 999 .00 7846 06-008241 PROF & CONTRACTUAL SERVICES 610 .50 8141 11-002161 PROF & CONTRACTUAL SERVICES 1,690.00 8144 06-009437 PROF & CONTRACTUAL SERVICES 1,360.00 8145 06-009526 PROF & CONTRACTUAL SERVICES 250 .00 8146 11-002189 PROF & CONTRACTUAL SERVICES 2,821.25 8149 06-009771 PROF & CONTRACTUAL SERVICES 300.00 Total: 8,030.75 206514 1/17/2023 000115 BAUTISTA, JUAN ANTONIO 000115-111722 08-005015 PROF & CONTRACTUAL SERVICES 672 .00 Total: 672.00 206515 1/17/2023 003562 BECERRA, ROWLAND 003562-121322 11-002151 PLANNING COMMISSIONER 50.00 Total : 50.00 206516 1/17/2023 013728 BRADY, HILDA 013728-2021 UB REFUND CST #040509 1,283 .24 Total: 1,283.24 206517 1/17/2023 004773 BSN SPORTS 919511597 BASKETBALL NETS 115.11 Total: 115.11 206518 1/17/2023 000300 BUBBS HARDWARE 245 06-009795 MATERIALS AND SUPPLIES 13.22 249 06-009599 MATERIALS AND SUPPLIES 80 .00 249-A 06-009795 MATERIALS AND SUPPLIES 24.63 250 06-009795 MATERIALS AND SUPPLIES 11.01 Total: 128.86 206519 1/17/2023 010563 BUCKNAM INFRASTRUCTURE, INC . 350-05.03 06-009693 PROF & CONTRACTUAL SERVICES 5,102 .00 Page: 7 City Council Regular Meeting - Page 12 of 124 vchlist Check List Page : 8 01/11/2023 5:31 :29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206519 1/17/2023 010563 010563 BUCKNAM INFRASTRUCTURE, INC . (Continued) Total: 5,102.00 206520 1/17/2023 013105 CALIFORNIA STREET LIGHTING 932 06-009791 PROF & CONTRACTUAL SERVICES 57,880.00 Total: 57,880.00 206521 1/17/2023 001330 CANON FINANCIAL SERVICES, INC. 29654221 08-004994 EQUIPMENT RENTAL 325 .66 Total: 325.66 206522 1/17/2023 010398 CAPPO 300011107 MEMBERSHIP DUES 140 .00 Total : 140.00 206523 1/17/2023 001195 CDW GOVERNMENT DQ10667 08-005032 COMPUTER SUPPLIES 1,171.56 DQ10957 08-005033 COMPUTER SUPPLIES 1,711.06 Total : 2,882.62 206524 1/17/2023 002319 CINDY'S JUMPERS 59127 08-005047 COMMUNITY ACTIVITY EXPENSE 519.50 59127-A 08-005075 COMMUNITY ACTIVITY EXPENSE 640 .50 Total : 1,160.00 206525 1/17/2023 000702 CINTAS DOCUMENT MANAGEMENT 8406002564 FIST AID KIT SUPPLIES 1,011.22 8406002564-A FIST AID KIT SUPPLIES 875.26 Total : 1,886.48 206526 1/17/2023 004168 CINTAS FIRE PROTECTION 5138132210 FIRST AID SUPPLIES 330.42 Total : 330.42 206527 1/17/2023 004691 CLA-VAL CO . 856496 06-009797 PROF & CONTRACTUAL SERVICE 16,511.86 Total : 16,511.86 206528 1/17/2023 001571 CLINICAL LAB OF SAN BERNARDINO 2201874-LYN01 06-009602 WATER SAMPLES TESTING SVCS. 1,005 .00 Total: 1,005.00 206529 1/17/2023 005198 COMMUNITY DEVELOPMENT , 005198-112822 MOBILEHOME PARK PROGRAM 525 .00 Total: 525.00 206530 1/17/2023 013675 CONTRACTING COMPANY INC , DOUG 2 06-009768 RETENTION 8 ,683.18 Total : 8,683.18 Page: 8 City Council Regular Meeting - Page 13 of 124 vchlist Check List Page : 9 01/11/2023 5:31:29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206531 1/17/2023 010754 COOL IMAGE WATER , DBA/ AMERICAN 1731 01-001748 WATER SERVICES 136.76 1735 02-002630 WATER SERVICES 7 .25 Total : 144.01 206532 1/17/2023 007243 COUNTY OF LOS ANGELES, 22121202956 06-009625 TRAFFIC SIGNAL MAINTENANCE 268.58 22121202957 06-009625 TRAFFIC SIGNAL MAINTENANCE 485.57 Total : 754.15 206533 1/17/2023 010638 COURT OF CALIFORNIA, COUNTY OF LA 7 40A-113022 11-002163 COMMUNITY ACTIVITY EXPENSE 18 ,083 .50 Total : 18,083.50 206534 1/17/2023 000305 CULLIGAN 1286033 06-009637 DRINKING WATER 81.52 Total : 81.52 206535 1/17/2023 000138 DAILY JOURNAL CORPORATION B3652069 11-002127 PUBLICATION SERVICES 300 .00 Total: 300.00 206536 1/17/2023 013520 DESIGN INC ., CALIFORNIA LANDSCAPE & 38480 06-009484 COMMUNITY ACTIVITY EXPENSE 185,215 .08 Total: 185,215.08 206537 1/17/2023 004089 ELDER, BRUCE A. 004089-1 02622 08-005017 PROF & CONTRACTUAL SERVICE 852.80 Total : 852.80 206538 1/17/2023 009633 EVENT STEP AND REPEAT 16423 08-005037 PRINTING SERVICES 601 .14 16423-A 08-005076 PRINTING SERVICES 835.50 Total : 1,436.64 206539 1/17/2023 003317 FAIR HOUSING FOUNDATION QRT 2-NOVEMBER 2022 11-002138 CDBG SUBRECIPIENT 1,095 .56 Total : 1,095.56 206540 1/17/2023 001087 FANTASY FLOWERS AND GIFTS 2420 08-005077 COMMUNITY ACTIVITY EXPENSE 44 .10 2432 08-005077 COMMUNITY ACTIVITY EXPENSE 198.45 5584 08-005077 COMMUNITY ACTIVITY EXPENSE 176.40 Total: 418.95 206541 1/17/2023 003334 FED EX 7 -965-1 5668 06-009576 COURIER SERVICES 11 .26 Total: 11.26 Page: 9 City Council Regular Meeting - Page 14 of 124 vchlist Check List Page: 10 01/11/2023 5:31:29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206542 1/17/2023 009082 FLOYD, LATASIA 009082-113022 08-005018 PROF & CONTRACTUAL SERVICE 1,120 .00 Total : 1,120.00 206543 1/17/2023 013735 FUTURA ENERGEY INC M-001859 REFUND-BUILDING PERMIT 82.00 M-001860 REFUND-BUILDING PERMIT 82.00 Total : 164.00 206544 1/17/2023 003983 GALLS QUARTERMASTER BC1766065 11-002139 PUBLIC SAFETY OFFICER 1,309.85 BC1766099 11-002139 PUBLIC SAFETY OFFICER 1,240.97 BC1771445 11-002139 PUBLIC SAFETY OFFICER 234 .30 BC1771663 11-002139 PUBLIC SAFETY OFFICER 422 .20 Total: 3,207.32 206545 1/17/2023 013637 GOMEZ, ROBERT RIGO 013637-121322 11-002164 PLANNING COMMISSIONER 50.00 Total : 50.00 206546 1/17/2023 001510 GRAINGER, INC . 9530790402 06-009578 OPERATING SUPPLIES 225.81 9530790436 06-009578 OPERATING SUPPLIES 172.12 9562085952 06-009578 OPERATING SUPPLIES 275.79 Total: 673.72 206547 1/17/2023 000993 GRM INFORMATION MANAGEMENT 0467046-0467060 01-001749 PROF & CONTRACTUAL SERVICE 939.60 Total: 939.60 206548 1/17/2023 013687 GUMP, ANDY INV986157 08-005074 COMMUNITY ACTIVITY EXPENSE 518.18 Total: 518.18 206549 1/17/2023 000233 HARDY AND HARPER, INC . 23148 RET RETENTION 33 ,332.45 Total : 33,332.45 206550 1/17/2023 013321 HERNANDEZ, ERNIE 25479 REIMBURSEMENT-TRAVEL 500.18 Total : 500.18 206551 1/17/2023 001681 HUMAN SERVICES ASSOCIATION 133020226 08-005021 PROF & CONTRACTUAL SERVICE 3,506.25 Total : 3,506.25 206552 1/17/2023 000353 INFOSEND, INC . 214718 06-009799 PROF & CONTRACTUAL SERVICE 1,207.51 223578 02-002648 PROF & CONTRACTUAL SERVICE 6,076 .99 -- Page: 10 City Council Regular Meeting - Page 15 of 124 vchlist Check List Page: 11 01/11/2023 5:31:29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206552 1/17/2023 000353 INFOSEND, INC. (Continued) 225193 02-002648 PROF & CONTRACTUAL SERVICE 2,574 .31 Total: 9,858.81 206553 1/17/2023 005848 INFRASTRUCTURE ENGINEERS 27963 B 06-009806 PROF & CONTRACTUAL SERVICE 7,839.00 28035 06-009806 PROF & CONTRACTUAL SERVICE 21,060 .00 28072 11-002208 PROF & CONTRACTUAL SERVICE 2 ,250 .00 28095 06-009416 PROF & CONTRACTUAL SERVICE 6,560 .56 28096 06-009416 PROF & CONTRACTUAL SERVICE 26,242.24 28130 06-008767 PROF & CONTRACTUAL SERVICE 300.00 28163 11-002208 PROF & CONTRACTUAL SERVICE 1,050.00 28177 11-002159 PROF & CONTRACTUAL SERVICE 4,004 .00 28193 11-002159 PROF & CONTRACTUAL SERVICE 20,557 .11 Total: 89,862.91 206554 1/17/2023 006140 INTERGRAPHICS COMPANY INV-0000207 01-001768 PROF & CONTRACTUAL SERVICE 7,226.70 Total : 7,226.70 206555 1/17/2023 000844 J & G GRAPHICS 05619 01-001736 PRINTING SERVICES 271 .84 Total : 271.84 206556 1/17/2023 001240 J.A. SALAZAR CONSTRUCTION 111022 06-009800 PROF & CONTRACTUAL SERVICE 7,041.91 Total : 7,041.91 206557 1/17/2023 008254 JCL TRAFFIC SERVICES 117491 06-009792 OPERATING SUPPLIES 4,929 .50 117492 06-009652 OPERATING SUPPLIES 96.74 117600 08-005057 OPERATING SUPPLIES 2,000.00 117601 08-005057 OPERATING SUPPLIES 3,090.00 117611 06-009652 OPERATING SUPPLIES 150.88 Total : 10,267.12 206558 1/17/2023 010358 JIMENEZ, JESSICA 010358-113022 08-005071 PROF & CONTRACTUAL SERVICE 456 .00 Total : 456.00 206559 1/17/2023 013304 JOE A GONSALVES & SON 160378 06-009772 PROF & CONTRACTUAL SERVICE 4,000 .00 Total : 4,000.00 206560 1/17/2023 001269 JOHN L. HUNTER & ASSOCIATES LYN1MS412210 06-009701 PROF & CONTRACTUAL SERVICE 870 .00 Page: 11 City Council Regular Meeting - Page 16 of 124 vchlist Check List Page: 12 01/11/2023 5:31:29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206560 1/17/2023 001269 001269 JOHN L. HUNTER & ASSOCIATES (Continued) Total: 870.00 206561 1/17/2023 013697 JP DESIGN STUDIO 1005 06-009785 PROF & CONTRACTUAL SERVICE 16,000.00 Total : 16,000.00 206562 1/17/2023 003547 KANE, BALLMER & BERKMAN 27591 11-002206 LEGAL SERVICES 857.50 Total: 857.50 206563 1/17/2023 009723 KELAR PACIFIC, LLC Sl-4024226 06-009786 AUTODESK AEC COLLECTION 2 ,490.00 Total: 2,490.00 206564 1/17/2023 013625 KOOSHA ENGINEERING KE-22.266 06-009810 WATER TANK TOWERS 9,500.00 Total : 9,500.00 206565 1/17/2023 003331 L.A. COUNTY SHERIFF DEPT . 231425LL , 01-001727 LAW ENFORCEMENT SERVICES 967,346.52 231426LL 01-001728 LAW ENFORCEMENT SERVICES 15,713 .60 231426LL-A 01-001729 LAW ENFORCEMENT SERVICES 5,358.00 Total: 988,418.12 206566 1/17/2023 000866 LEAD TECH ENVIRONMENTAL 15052 11-002143 LEAD/ASBESTOS TESTING 575 .00 Total: 575.00 206567 1/17/2023 013720 LOPEZ, AMADOR 29804 REFUNDABLE DEPOSIT 3,900.00 Total : 3,900.00 206568 1/17/2023 003313 LOS ANGELES METROPOLITAN, 6017121 02-002616 BUS PASS SUBSIDY 52 .00 6017452 02-002616 BUS PASS SUBSIDY 360 .00 6017701 02-002616 BUS PASS SUBSIDY 232.00 6018014 02-002616 BUS PASS SUBSIDY 140.00 6018044 02-002616 BUS PASS SUBSIDY 140 .00 Total : 924.00 206569 1/17/2023 000348 LYNWOOD ATHLETICS COMMUNITY QTR-2 NOVEMBER 22 11-002144 CDBG SUBRECIPIENT 2,140 .36 Total : 2,140.36 206570 1/17/2023 013395 M&C CONSTRUCTION GROUP INC 1121 06-009761 PROF & CONTRACTUAL SERVICE 4,900 .00 1138 06-009640 FENCE RENTAL NATATORIUM 1,800 .00 1139 06-009640 FENCE RENTAL NATATORIUM 1,800 .00 -- Page: 12 City Council Regular Meeting - Page 17 of 124 vchlist Check List Page: 13 01/11/2023 5:31:29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206570 1/17/2023 013395 M&C CONSTRUCTION GROUP INC (Continued) 1140 06-009640 FENCE RENTAL NATATORIUM 1,800 .00 1141 06-009640 FENCE RENTAL NATATORIUM 1,800 .00 Total: 12,100.00 206571 1/17/2023 002761 MARCO POWER EQUIPMENT 31215015 06-009672 OPERATING SUPLLIES 90.00 Total : 90.00 206572 1/17/2023 003069 MEDCO SUPPLY CO . IN95898328 MEDICAL SUPPLIES 278 .38 Total : 278.38 206573 1/17/2023 013504 MINER, LTD 5310554299 06-009676 REPAIRS FOR DOORS 1,818.70 5310556160 06-009676 REPAIRS FOR DOORS 2,673 .13 5310556162 06-009676 REPAIRS FOR DOORS 4,106 .90 Total: 8,598.73 206574 1/17/2023 013065 MKN & ASSOCIATES 101595 06-009787 PROF & CONTRACTUAL SERVICE 11,336 .24 101745 06-009787 PROF & CONTRACTUAL SERVICE 19,491 .94 Total: 30,828.18 206575 1/17/2023 011975 MOMAR, INC. PSl480438 06-009723 OPERATING SUPPLIES 1,078 .35 Total : 1,078.35 206576 1/17/2023 004111 NATIONAL CONSTRUCTION RENTALS 6822138 06-009395 FENCE RENTAL HAM PARK 267 .12 Total : 267.12 206577 1/17/2023 000475 NATIONWIDE ENVIRONMENTAL SVCS . 32883 06-009653 PROF & CONTRACTUAL SERVICE 6,402 .01 Total: 6,402.01 206578 1/17/2023 000475 NATIONWIDE ENVIRONMENTAL SVCS. 32857 06-009704 PROF & CONTRACTUAL SERVICE 1,812 .01 32857-A 11-002160 PROF & CONTRACTUAL SERVICE 1,158.50 Total : 2,970.51 206579 1/17/2023 013673 NOBEL SYSTEMS INC. 15525 06-009807 PROF & CONTRACTUAL SERVICE 2,500.00 Total: 2,500.00 206580 1/17/2023 011922 NORTH STAR LAND CARE 1601-430 06-009620 PROF & CONTRACTUAL SERVICE 25,000 .00 1601-436 06-009801 PROF & CONTRACTUAL SERVICE 44,500 .00 -- Page: 13 City Council Regular Meeting - Page 18 of 124 vchlist Check List Page: 14 01/11/2023 5:31:29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206580 1/17/2023 011922 NORTH STAR LAND CARE (Continued) 1601-444 06-009620 PROF & CONTRACTUAL SERVICE 2,512.00 1601-466 06-009620 PROF & CONTRACTUAL SERVICE 42,714.00 1601-477 06-009620 PROF & CONTRACTUAL SERVICE 31,899 .00 Total : 146,625.00 206581 1/17/2023 000078 ODP BUSINESS SOLUTIONS,LLC 281173478001 01-001737 OPERATING SUPPLIES 152 .55 282194206001 06-009661 OPERATING SUPPLIES 13 .23 Total : 165.78 206582 1/17/2023 013636 PACIFIC ADVANCED CIVIL ENG,INC 6619 06-009I37 PROF & CONTRACTUAL SERVICE 46,120.00 6706 06-009737 PROF & CONTRACTUAL SERVICE 5,410 .00 Total : 51,530.00 206583 1/17/2023 012548 PARKING COMPANY OF AMERICA INVM0017216 06-009642 PROF & CONTRACTUAL SERVICE 98,624.49 Total: 98,624.49 206584 1/17/2023 011725 PAVEMENT COATINGS CO. 1 06-009780 CITYWIDE SLURRY SEAL PHASE 2 196,132.16 Total : 196,132.16 206585 1/17/2023 013733 PERRY , DAIMA 436419821 REFUND-CANCELLED RENTAL 650 .00 Total : 650.00 206586 1/17/2023 010945 PETDATA, INC . 11237 11-002146 PET LICENSING SERVICES 500 .00 Total: 500.00 206587 1/17/2023 013717 PGS HOME AND SOLAR B-011150 REFUND-BUILDING PERMIT 233 .69 Total: 233.69 206588 1/17/2023 008307 PHOENIX GROUP INFORMATION SYS 1120221204 11-002154 PROF & CONTRACTUAL SERVICE 1,636 .14 112022204 11-002154 PROF & CONTRACTUAL SERVICE 17,625.87 112022902 11-002154 PROF & CONTRACTUAL SERVICE 2,200 .00 Total : 21,462.01 206589 1/17/2023 001313 QUINONEZ, MARIA 001313-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500 .00 Total: 500.00 206590 1/17/2023 008690 RICOH USA, INC . 5066386954 06-009707 COPIER MAINTENANCE 224 .40 Page: 14 City Council Regular Meeting - Page 19 of 124 vchlist Check List Page: 15 01/11/2023 5:31 :29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206590 1/17/2023 008690 008690 RICOH USA, INC. (Continued) Total: 224.40 206591 1/17/2023 005067 ROADLINE 18077 06-009802 OPERATING SUPPLIES 176.40 Total: 176.40 206592 1/17/2023 013727 ROXIE , KIRKHAM 109279127 REFUNDABLE DEPOSIT 50 .00 Total: 50.00 206593 1/17/2023 008805 RPW SERVICES , INC . 32639 06-009681 PEST CONTROL /GOPHER 250 .00 Total: 250.00 206594 1/17/2023 000075 S & J SUPPLY CO . S100204973.001 06-009682 MATERIALS & SUPPLIES 235.36 Total : 235.36 206595 1/17/2023 007205 SANCHEZ AWARDS 2127 01-001739 PLAQUES AND ENGRAVING 82 .69 2129 01-001739 PLAQUES AND ENGRAVING 730 .95 2130 01-001739 PLAQUES AND ENGRAVING 154 .35 Total: 967.99 206596 1/17/2023 00T733 SEQUEL CONTRACTORS, INC. 1-22 06-009803 PROF & CONTRACTUAL SERVICE 96 ,349 .00 Total: 96,349.00 206597 1/17/2023 008956 SPCALA 2022-12 11-002155 ANIMAL SHELTER SERVICES 21,000.00 2022-12-2 11-002155 ANIMAL SHELTER SERVICES 21,000.00 Total: 42,000.00 206598 1/17/2023 002938 TAJ OFFICE SUPPLY 02320 11-002205 OFFICE/OPERATING SUPPLIES 736.47 02346 08-005078 OFFICE/OPERATING SUPPLIES 390 .87 02380 11-002201 OFFICE/OPERATING SUPPLIES 569 .04 02402 11-002201 OFFICE/OPERATING SUPPLIES 162.50 02471 11 -002201 OFFICE/OPERATING SUPPLIES 317 .52 Total: 2,176.40 206599 1/17/2023 013701 TAYLOR, LASHONDA 013701-123122 PROF & CONTRACTUAL SERVICE 140 .80 Total: 140.80 206600 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK 721582997 06-009630 OPERATING SUPPLIES 2 ,500.47 721691418 08-005025 OPERATING SUPPLIES 1,091.97 -- Page : 15 City Council Regular Meeting - Page 20 of 124 vchlist Check List Page: 16 01/11/2023 5:31 :29PM City of Lynwood Bank code: apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206600 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK (Continued) 723150421 06-009630 OPERATING SUPPLIESREMOVA 1,190 .70 Total: 4,783.14 206601 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK 719975039 06-009629 MATERIALS & SUPPLIES 210.50 720180439 06-009629 MATERIALS & SUPPLIES 34 .12 720477991 06-009629 MATERIALS & SUPPLIES 78 .50 720483452 06-009629 MATERIALS & SUPPLIES 188.42 720958503 06-009629 MATERIALS & SUPPLIES 285.30 720997931 06-009629 MATERIALS & SUPPLIES 28.71 721424364 06-009629 MATERIALS & SUPPLIES 118 .98 721870590 06-009629 MATERIALS & SUPPLIES 468 .27 721871911 06-009629 MATERIALS & SUPPLIES 427 .89 721913341 06-009629 MATERIALS & SUPPLIES 243 .18 722147881 06-009629 MATERIALS & SUPPLIES 659 .76 723239125 06-009629 MATERIALS & SUPPLIES 655 .60 724537162 06-009629 MATERIALS & SUPPLIES 412.80 Total : 3,812.03 206602 1/17/2023 004179 TIERRA WEST ADVISORS, LLC LY-06228 11-002207 PROF & CONTRACTUAL SERVICE 1,120 .00 LY-07228 11-002207 PROF & CONTRACTUAL SERVICE 6 ,815 .00 LY-08228 11-002207 PROF & CONTRACTUAL SERVICE 9,942.50 LY-0922A 11-002207 PROF & CONTRACTUAL SERVICE 5,737 .50 LY-09228 11-002207 PROF & CONTRACTUAL SERVICE 23,462 .50 LY-1022A 11-002207 PROF & CONTRACTUAL SERVICE 670.00 LY-10228 11-002207 PROF & CONTRACTUAL SERVICE 9 ,553.50 LY-1022C 11-002207 PROF & CONTRACTUAL SERVICE 2,062 .50 LY-11228 11-002207 PROF & CONTRACTUAL SERVICE :3"6 ,036 .25 LY-1122C 11-002207 PROF & CONTRACTUAL SERVICE 3,428 .00 Total : 98,827.75 206603 1/17/2023 007742 ULINE, INC. 157250557 08-005072 JANITORIAL SUPPLIES 1,523 .16 157554217 06-009592 JANITORIAL SUPPLIES 445 .86 157828718 06-009592 JANITORIAL SUPPLIES 253 .86 Total : 2,222.88 206604 1/17/2023 000166 UNDERGROUND SERVICE ALERT/SC 1220220415 06-009593 UNDERGROUND SERVICE ALERT 263 .75 Page : 16 City Council Regular Meeting - Page 21 of 124 vchlist Check List Page : 17 01/11/2023 5:31:29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206604 1/17/2023 000166 UNDERGROUND SERVICE ALERT/SC (Continued) 22-2302256 06-009593 UNDERGROUND SERVICE ALERT 110.90 Total : 374.65 206605 1/17/2023 009742 UNI FIRST CORPORATION 3242819905 06-009621 UNIFORM SERVICE AND SUPPLIES 56.49 3242819906 06-009621 UNIFORM SERVICE AND SUPPLIES 56 .22 3242819907 06-009621 UNIFORM SERVICE AND SUPPLIES 93 .36 3242819908 06-009621 UNIFORM SERVICE AND SUPPLIES 133 .58 3242819909 06-009621 UNIFORM SERVICE AND SUPPLIES 92 .04 3242823281 06-009621 UNIFORM SERVICE AND SUPPLIES 60 .54 3242823282 06-009621 UNIFORM SERVICE AND SUPPLIES 56 .22 3242823283 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242823284 06-009621 UNIFORM SERVICE AND SUPPLIES 133 .58 3242823285 06-009621 UNIFORM SERVICE AND SUPPLIES 92 .04 3242826630 06-009621 UNIFORM SERVICE AND SUPPLIES 60 .54 3242826631 06-009621 UNIFORM SERVICE AND SUPPLIES 58 .22 3242826632 06-009621 UNIFORM SERVICE AND SUPPLIES 108 .42 3242826633 06-009621 UNIFORM SERVICE AND SUPPLIES 133 .58 3242826634 06-009621 UNIFORM SERVICE AND SUPPLIES 92 .04 3242830145 06-009621 UNIFORM SERVICE AND SUPPLIES 60 .54 3242830146 06-009621 UNIFORM SERVICE AND SUPPLIES 58 .22 3242830147 06-009621 UNIFORM SERVICE AND SUPPLIES 108 .42 3242830148 06-009621 UNIFORM SERVICE AND SUPPLIES 133 .58 3242830149 06-009621 UNIFORM SERVICE AND SUPPLIES 92 .04 3242833520 06-009621 UNIFORM SERVICE AND SUPPLIES 60 .54 3242833521 06-009621 UNIFORM SERVICE AND SUPPLIES 58 .22 3242833522 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242833523 06-009621 UNIFORM SERVICE AND SUPPLIES 133 .58 3242833524 06-009621 UNIFORM SERVICE AND SUPPLIES 92 .04 Total: 2,240.89 206606 1/17/2023 003612 US BANK CORP . TRUST 6772062 ADMINISTRATION FEE 2019B 1,425 .00 Total : 1,425.00 206607 1/17/2023 013726 VILLA , SAFERINO 1905-0028 REFUNDABLE DEPOSIT 3,600 .00 Total : 3,600.00 Page : 17 City Council Regular Meeting - Page 22 of 124 vchlist Check List Page: 18 01/11/2023 5:31:29PM City of Lynwood Bank code : apbank Voucher Date Vendor Invoice PO# Description/Account Amount 206608 1/17/2023 002912 WATERLINE TECHNOLOGIES,INC 5613814 06-009610 OPERATING SUPPLIES 507.43 5613817 06-009610 OPERATING SUPPLIES 811 .88 5613831 06-009610 OPERATING SUPPLIES 463.93 5614461 06-009610 OPERATING SUPPLIES 759.69 5614462 06-009610 OPERATING SUPPLIES 289 .96 5615268 06-009610 OPERATING SUPPLIES 289.96 5615271 06-009610 OPERATING SUPPLIES 289.96 5615275 06-009610 OPERATING SUPPLIES 797 .38 5615646 06-009610 OPERATING SUPPLIES 289.96 5615647 06-009610 OPERATING SUPPLIES 753.89 Total : 5,254.04 206609 1/17/2023 008382 WEST COAST SAND & GRAVEL , INC . 562889 06-009728 OPERATING SUPPLIES 699.42 Total : 699.42 206610 1/17/2023 000802 WEST, KENNETH 000802-121322 11-002158 PLANNING COMMISSIONER 50 .00 Total: 50.00 206611 1/17/2023 007609 WILLDAN FINANCIAL SERVICES 010-52794 02-002653 PROF & CONTRACTUAL SERVICE 513 .00 Total: 513.00 206612 1/17/2023 012137 XIO INC. 20123003 06-009713 PROF & CONTRACTUAL SERVICE 760.00 Total: 760.00 106 Vouchers for bank code: apbank Bank total: 2,741,419.71 Page : 18 City Council Regular Meeting - Page 23 of 124 RESOLUTION NO. 2022.XXX Warrant Registers Dated 01-17-2023 PASSED, APPROVED and ADOPTED this 17th day of January_, 2023. Oscar Flores, Mayor ATTEST: __________________________ Maria Quiňonez, Ernie Hernandez, City Clerk City Manager APPROVED AS TO FORM: APPROVED AS TO CONTENT: ________ Noel Tapia, Harry Wong, City Attorney Director of Finance and Administration City Council Regular Meeting - Page 24 of 124 STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a meeting held on the 17th day of January, 2023. AYES: COUNCIL MEMBERS MUNOZ, SOLACHE, MAYOR PRO TEM SOTO AND MAYOR FLORES NOES: NONE ABSENT: NONE ABSTAIN: NONE ________________________ Maria Quiňonez, City Clerk STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2022.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this _17th day of January_, 2023. ___________________________ Maria Quiňonez, City Clerk City Council Regular Meeting - Page 25 of 124 A genda I tem # 9. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: S heila Harding, D eputy C ity Treasurer S U B J E C T: TRE A S URE R'S M O N TH LY INV E S TME NT RE P ORT Recommendation: The following is the Investment Report for the month endi ng D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is i nformed of the D epartment’s investment activi ti es. The report satisfies the recommended reporting requirements of the C i ty of Lynwood, which addresses the C ity C ouncil’s request for monthly fi nancial information. It i s recommended that the C ity C ounci l for the C ity of Lynwood receive and file the attached Monthly Investment Report. Background: Government C ode S ection 53607, last amended 1996, with reference to the reporting of investment transacti ons states that the Treasurer shall make a monthly report of those transaction to the legislati ve body. Government C ode S ection 53646 (b) (1), last amended 2004, with reference to discussion related to establishment of an Investment P olicy and i nvestment reporting states that “the Treasurer may render a quarterly report”. To determi ne the applicable code inasmuch as reference to Government C ode S ection 53607 or non-compli ance thereof has never been included i n past audit findings. While Government C ode S ection 53646 (b) (1) which is the most current version related to Investment Reporting utilizes the word “may” indicating the reporting mechanism is optional, to err on the side of caution, and in order to ensure that we are in compliance with all Government C odes, a new procedure of submitting monthly reports to the C ouncil/A gency agenda was implemented. A ttached for C ouncil/A gency revi ew is the C ity’s/A gency’s Monthly Treasurer ’s Report. Discussion and Analysis: The investment transactions were executed i n accordance with the C ity's Investment P olicy and the C ali forni a S tate Government C ode S ection 53646(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months. City Council Regular Meeting - Page 26 of 124 Fiscal Impact: The action recommended in this report will not have a fiscal impact on the C ity. Coordinated With: F HN F inanci al Main S treet A dvisors currently monitors the C ity’s i nvestment activities. AT TAC H ME N T S: Description AC TIV IT Y & S U MMARY R E P OR T - D E C E MB E R 2022 F H N E C ON OMIC R EPOR T - D E C E MB E R 2022 N R F & C ON F E R EN C E B OAR D GL OB AL - D E C E MB E R 2022 City Council Regular Meeting - Page 27 of 124 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 1 The following is the City’s cash flow and the monthly investment report. The monthly report includes a summary of the City’s investment portfolio, a monthly review of the investment market as prepared by the investment managers and detailed information on monthly transactions, cash flows and investments by issuer. FHN Investment Advisors manage the portion of investments not invested by LAIF (State Local Agency Investment Fund). The tables below provide key statistics regarding the City’s cash flow and investment portfolio as of December 31, 2022. Type Balances Held Cash - US Bank $48,689,265.10 Cash - JPMorgan Chase Bank $8,056,091.92 Local Agency Investment Fund $9,595,678.13 FHN Investment Advisors/BNY 25,744,440 .91 TOTAL $66,341,035.15 FHN ACCOUNT SUMMARY 31-Dec 30- Nov Market Value $35,344,239 $35,314,063 Book Value $36,481,176 $36,466,189 Variance (1,136,936) ($1,152,126) Par Value $36,500,250 $36,492,754 Net Asset Value $96.88 $96.84 Book Yield 2.38% 2.35% Market Yield 3.95% 3.88% Years to Maturity 1.69 1.75 Effective Duration 1.45 1.45 FHN INVESTMENT COMPLIANCE % % Company Book Value of Portfolio Allowed by Policy US Treasuries 6,499,374.86 17.82% 100% US Federal Agencies 10,450,169.07 28.65% 100% Supranational Obligations $0.00 0% 30% LAIF 9,595,678.13 26.30% 75% Commercial Paper 1,478,968.63 4.05% 25% Money Market Funds 52,571.67 0.14% 20% Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% City Council Regular Meeting - Page 28 of 124 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 2 Corporate Obligations 3,488,790.30 9.56% 30% State and Local Governments $0.00 0% 100% Total 36,481,175.57 100.00% All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 2022. The City’s investments comply with its current investment policy, which emphasizes the safety, liquidity, and return of its investments, allowing the city to meet its expenditures for the next six months. PURCHASES & MATURITIES No Purchases or Redemptions for the month of December 2022. FHN INCOME EARNED SUMMARY December Month End Fiscal Year to Date INTEREST Interest Received/Purchased. 7,495.34 191,919.53 Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85 Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00 Total Earnings During Period 55,715.04 307,834.28 City Council Regular Meeting - Page 29 of 124 Quarterly Economic and Market Update December 2022 City Council Regular Meeting - Page 30 of 124 Economic and Market Update *Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY*8.6%16.0%(7.4%) Consumer Confidence 108.3 103.2 5.1 Gold (per ounce)$1,824.02 $1,660.61 $163.41 Dollar Index 103.52 112.12 (8.60) U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59) Retail Sales YOY*8.7%8.4%0.3% S&P 500 3,840 3,586 7.1% Consumer Price Index YOY*7.6%8.2%(0.6%) 1-5 Yr A-AAA Corporate Spread 0.69%0.81%(0.12%) Dow Jones 33,147 28,726 15.4% 30 Year Mortgage Rate 6.66%5.83%0.83% 1-5 Yr Agency Spread 0.07%0.03%0.04% 10 Year T-Note 3.88%3.83%0.04% U.S. Fed Debt Avg Yield*2.30%1.99%0.31% 3 Year T-Note 4.23%4.29%(0.06%) 5 Year T-Note 4.01%4.09%(0.09%) 2 Year T-Note 4.43%4.28%0.15% 3 Month T-Bill 4.37%3.27%1.10% Labor Force Participation 62.3%62.3%0.0% Effective Fed Funds Rate 4.33%3.08%1.25% U.S. Payrolls Monthly Change 223,000 269,000 (46,000) Unemployment Rate 3.5%3.5%0.0% 12/31/2022 Item 12/31/2022 9/30/2022 Change 2City Council Regular Meeting - Page 31 of 124 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 12/31/2022 -1.4 5.2 4.7 1.8 3.3 2.3 1.3 0.6 2.4 1.2 2.4 2.0 1.7 2.0 3.4 4.1 2.8 2.8 2.9 0.7 2.2 2.7 3.6 1.8 -4.6 -29 . 9 35 . 3 3.9 6.3 7.0 2.7 7.0 -1.6 -0.6 3.2 1.1 0.0 -0.6 0.0 -45 -35 -25 -15 -5 5 15 25 35 45 Q1 2 0 1 4 Q2 2 0 1 4 Q3 2 0 1 4 Q4 2 0 1 4 Q1 2 0 1 5 Q2 2 0 1 5 Q3 2 0 1 5 Q4 2 0 1 5 Q1 2 0 1 6 Q2 2 0 1 6 Q3 2 0 1 6 Q4 2 0 1 6 Q1 2 0 1 7 Q2 2 0 1 7 Q3 2 0 1 7 Q4 2 0 1 7 Q1 2 0 1 8 Q2 2 0 1 8 Q3 2 0 1 8 Q4 2 0 1 8 Q1 2 0 1 9 Q2 2 0 1 9 Q3 2 0 1 9 Q4 2 0 1 9 Q1 2 0 2 0 Q2 2 0 2 0 Q3 2 0 2 0 Q4 2 0 2 0 Q1 2 0 2 1 Q2 2 0 2 1 Q3 2 0 2 1 Q4 2 0 2 1 Q1 2 0 2 2 Q2 2 0 2 2 Q3 2 0 2 2 Q4 2 0 2 2 Q1 2 0 2 3 Q2 2 0 2 3 Q3 2 0 2 3 Pe r c e n t U.S. GDP (Quarter over Quarter Annualized)* Estimates 3City Council Regular Meeting - Page 32 of 124 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis 12/31/2022 Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 8.7 8.0 4.1 4.7 -0.6 7.1 2.1 2.1 -0.7 6.9 2.6 2.6 6.1 4.4 5.8 6.5 6.6 2.7 4.9 3.1 0.2 3.3 5.3 5.6 -0.5 -0.2 5.4 4.6 5.5 3.2 -0.3 2.5 -1.8 4.6 7.2 4.2 3.5 3.5 4.2 3.7 1.9 -0.1 3.5 2.8 4.0 2.7 3.8 4.4 4.5 4.8 4.1 1.0 1.7 2.8 3.9 3.5 2.8 2.0 0.1 -2.6 2.7 1.5 2.3 1.8 2.3 2.7 1.7 2.2 2.9 2.3 -2.8 5.9 1.9 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10 19 5 0 19 5 2 19 5 4 19 5 6 19 5 8 19 6 0 19 6 2 19 6 4 19 6 6 19 6 8 19 7 0 19 7 2 19 7 4 19 7 6 19 7 8 19 8 0 19 8 2 19 8 4 19 8 6 19 8 8 19 9 0 19 9 2 19 9 4 19 9 6 19 9 8 20 0 0 20 0 2 20 0 4 20 0 6 20 0 8 20 1 0 20 1 2 20 1 4 20 1 6 20 1 8 20 2 0 20 2 2 Pe r c e n t U.S. Annual GDP * 1980s 3.2%1990s 3.2%2000s 1.9%2010s 2.3%1960s 4.5%1970s 3.3%1950s 4.2% 4City Council Regular Meeting - Page 33 of 124 Economic and Market Update Source: Bureau of Labor Statistics 12 Month Average Job Change 375,250 12/31/2022 -22 -20 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 2 4 6 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls Change -25.0 -20.0 -15.0 -10.0 -5.0 0.0 5.0 10.0 15.0 20.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls YOY Change 5City Council Regular Meeting - Page 34 of 124 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 0 5 10 15 20 25 30 Ju n - 1 8 Au g - 1 8 Oc t - 1 8 De c - 1 8 Fe b - 1 9 Ap r - 1 9 Ju n - 1 9 Au g - 1 9 Oc t - 1 9 De c - 1 9 Fe b - 2 0 Ap r - 2 0 Ju n - 2 0 Au g - 2 0 Oc t - 2 0 De c - 2 0 Fe b - 2 1 Ap r - 2 1 Ju n - 2 1 Au g - 2 1 Oc t - 2 1 De c - 2 1 Fe b - 2 2 Ap r - 2 2 Ju n - 2 2 Au g - 2 2 Oc t - 2 2 De c - 2 2 Pe r c e n t Unemployment Rates U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6City Council Regular Meeting - Page 35 of 124 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 M i l l i o n s U.S. Number of Employed Full-Time and Part-Time 60.0 60.5 61.0 61.5 62.0 62.5 63.0 63.5 64.0 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 Pe r c e n t U.S. Labor Force Participation Rate 7City Council Regular Meeting - Page 36 of 124 Economic and Market Update Source: Department of Labor and Bloomberg 12/31/2022 Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work. 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 19 9 6 19 9 7 19 9 8 19 9 9 20 0 0 20 0 1 20 0 2 20 0 3 20 0 4 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 M i l l i o n s Weekly Initial Jobless Claims (4 Week Moving Average) 8City Council Regular Meeting - Page 37 of 124 Economic and Market Update *Real: Inflation Adjusted Source: U.S. Census Bureau Source: Conference Board 12/31/2022 -30 -20 -10 0 10 20 30 40 50 60 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t U.S. Real* Retail Sales YOY % Change 40 50 60 70 80 90 100 110 120 130 140 Ju n - 1 2 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 De c - 2 2 In d e x V a l u e U.S. Consumer Confidence 9City Council Regular Meeting - Page 38 of 124 Economic and Market Update CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 12/31/2022 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t CPI and CPIX YOY % Change CPI CPIX 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t PCE and PCEC YOY % Change PCE PCEC 10City Council Regular Meeting - Page 39 of 124 Economic and Market Update Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate 12/31/2022 0 2 4 6 8 10 12 14 16 18 20 22 24 Ju l - 1 4 De c - 1 4 M a y - 1 5 Oc t - 1 5 M a r - 1 6 Au g - 1 6 Ja n - 1 7 Ju n - 1 7 No v - 1 7 Ap r - 1 8 Se p - 1 8 Fe b - 1 9 Ju l - 1 9 De c - 1 9 M a y - 2 0 Oc t - 2 0 M a r - 2 1 Au g - 2 1 Ja n - 2 2 Ju n - 2 2 YO Y P e r c e n t Case-Shiller 20 City U.S. Home Price Index YOY % Increase 200 300 400 500 600 700 800 900 1,000 1,100 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Ne w -Th o u s a n d s Ex i s t i n g -M i l l i o n s U.S. New and Existing Home Sales Existing-Left New-Right 11City Council Regular Meeting - Page 40 of 124 Economic and Market Update Source: U.S. Treasury 12/31/2022 $12 $13 $14 $15 $16 $17 $18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $29 $30 $31 $32 $33 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Tr i l l i o n s U.S. Federal Debt Outstanding 1.3 1.5 1.7 1.9 2.1 2.3 2.5 2.7 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Pe r c e n t U.S. Treasury Interest Bearing Debt Avg Rate 12City Council Regular Meeting - Page 41 of 124 Economic and Market Update Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg 12/31/2022 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 De c - 2 0 2 2 Ja n - 2 0 2 3 Fe b - 2 0 2 3 M a r - 2 0 2 3 Ap r - 2 0 2 3 M a y - 2 0 2 3 Ju n - 2 0 2 3 Ju l - 2 0 2 3 Au g - 2 0 2 3 Se p - 2 0 2 3 Oc t - 2 0 2 3 No v - 2 0 2 3 De c - 2 0 2 3 Ja n - 2 0 2 4 Fe b - 2 0 2 4 M a r - 2 0 2 4 Ap r - 2 0 2 4 M a y - 2 0 2 4 Ju n - 2 0 2 4 Ju l - 2 0 2 4 Au g - 2 0 2 4 Se p - 2 0 2 4 Oc t - 2 0 2 4 No v - 2 0 2 4 De c - 2 0 2 4 Ja n - 2 0 2 5 Fe b - 2 0 2 5 M a r - 2 0 2 5 Ap r - 2 0 2 5 M a y - 2 0 2 5 Ju n - 2 0 2 5 Ju l - 2 0 2 5 Au g - 2 0 2 5 Se p - 2 0 2 5 Oc t - 2 0 2 5 No v - 2 0 2 5 De c - 2 0 2 5 Ja n - 2 0 2 6 Pe r c e n t Fed Funds FuturesFed's Anticipated Rates Fed Funds Futures 13City Council Regular Meeting - Page 42 of 124 Economic and Market Update Source: Bloomberg Figures may not total due to rounding 12/31/2022 3Y 4.23 4.29 -0.06 30Y 3.97 3.78 0.19 5Y 4.01 4.09 -0.09 10Y 4.37 3.88 3.83 0.04 Change9/30/2212/30/22 3M Maturity 0.154.284.432Y 0.723.994.711Y 0.833.934.766M 1.103.27 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y Pe r c e n t U.S. Treasury Yield Curve Change 12/30/22 9/30/22 -20 0 20 40 60 80 100 120 3M 6M 1Y 2Y 3Y r 5Y 10 Y 30 Y Ba s i s P o i n t s Basis Point Change 14City Council Regular Meeting - Page 43 of 124 Economic and Market Update Source: Bloomberg 12/31/2022 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 5.00 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 3M and 1Y 1Y 3M 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 2Y and 5Y 5Y 2Y 15City Council Regular Meeting - Page 44 of 124 Economic and Market Update Source: Bloomberg 12/31/2022 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Jan - 5 4 Jan - 5 6 Jan - 5 8 Jan - 6 0 Jan - 6 2 Jan - 6 4 Jan - 6 6 Jan - 6 8 Jan - 7 0 Jan - 7 2 Jan - 7 4 Jan - 7 6 Jan - 7 8 Jan - 8 0 Ja n - 8 2 Jan - 8 4 Jan - 8 6 Jan - 8 8 Jan - 9 0 Jan - 9 2 Jan - 9 4 Jan - 9 6 Jan - 9 8 Jan - 0 0 Jan - 0 2 Jan - 0 4 Jan - 0 6 Ja n - 0 8 Jan - 1 0 Jan - 1 2 Jan - 1 4 Jan - 1 6 Jan - 1 8 Jan - 2 0 Jan - 2 2 Pe r c e n t U.S. Treasury Yields 2Yr and 5Yr -Fed Funds Target Rate 5Yr 2Yr Fed Funds 16City Council Regular Meeting - Page 45 of 124 Economic and Market Update Source: Bloomberg 12/31/2022 Global Treasury Rates 2 Year Yields 5 Year Yields 10 Year Yields 0.03% 1.22% 2.74% 2.77% 2.83% 2.89% 3.24% 3.40% 3.53% 4.05% 4.43% -2.0%0.0%2.0%4.0% Japan Switzlnd Germany Portugal France Spain Italy Australia England Canada USA 0.23% 1.42% 2.57% 2.87% 2.95% 3.14% 3.41% 3.60% 3.68% 4.00% 4.00% -1.0%1.0%3.0%5.0% Japan Switzlnd Germany France Portugal Spain Canada England Australia Italy USA 0.41% 1.58% 2.57% 3.11% 3.30% 3.58% 3.65% 3.66% 3.87% 4.05% 4.70% 0.0%1.0%2.0%3.0%4.0%5.0% Japan Switzlnd Germany France Canada Portugal Spain England USA Australia Italy 17City Council Regular Meeting - Page 46 of 124 Economic and Market Update ICE BofAML Index (option adjusted spread vs. Treasury)ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB)Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices 12/31/2022 Current Spread is 7 Current Spread is 69 -20 0 20 40 60 80 100 120 140 160 180 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr Agency vs Treasury 0 50 100 150 200 250 300 350 400 450 500 550 600 650 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr A-AAA Corporate vs Treasury 18City Council Regular Meeting - Page 47 of 124 Economic and Market Update *ICE BofAML Index (option adjusted spread vs. Treasury)*ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1)CMO Agency 0-3Yr PAC (CM1P) Source: ICE BofAML Indices 12/31/2022 Current Spread is 88 Current Spread is 71 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: AAA Asset Backed vs Treasury -150 -100 -50 0 50 100 150 200 250 300 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 0-3Yr Agency CMO vs Treasury 19City Council Regular Meeting - Page 48 of 124 Economic and Market Update Source: Bloomberg 12/31/2022 -7.0 -1.9 -0.1 0.6 0.7 0.9 1.6 1.9 2.0 2.4 4.3 4.7 4.8 7.4 7.6 8.6 9.0 9.7 10.8 15.8 15.9 17.7 (10) (5) 0 5 10 15 20 Pe r c e n t Selected Sector Quarterly Total Returns 20City Council Regular Meeting - Page 49 of 124 Economic and Market Update Source: Bloomberg 12/31/2022 -32.6 -31.2 -26.2 -21.9 -21.2 -18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2 -7.0 -5.6 -3.9 -0.6 0.9 9.5 17.5 29.0 (40) (30) (20) (10) 0 10 20 30 40 Pe r c e n t Selected Sector Year-Over-Year Total Returns 21City Council Regular Meeting - Page 50 of 124 Economic and Market Update Sources: Bloomberg, FHN Main Street 12/31/2022 3.50 3.60 3.70 3.80 3.90 4.00 4.10 4.20 4.30 4.40 4.50 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Pe r c e n t 5 Year Treasury Note Yield Yields Higher After Bank Of Japan Raises Cap On 10-Year Japan Government Bonds Core CPI Up 0.6% Month Over Month Fed Hikes Rates 75bpsUnemployment Rate Dropped To 3.5%, The Lowest Level In Decades Q3 GDP Up 2.6% Powell Says Fed May Slow Down Pace Of Rate Hikes Treasuries Post Biggest Annual Loss Ever, As Inflation Takes Toll CPI YoY Up 7.1% Versus Expected 7.3%, Beating Expectations San Francisco Fed's Daly Says Rate Pause Is Off The Table October CPI 0.4% MoM Core 0.3% 22City Council Regular Meeting - Page 51 of 124 Economic and Market Update Sources: Bloomberg, FHN Financial, FHN Main Street 12/31/2022 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Dow Jones Industrial Average Sales Forecast By Best Buy Dampens Concerns High Inflation Would Lead To Poor Holiday Shopping Season Upbeat Corporate Earnings And Economic Data Cause Stocks To Rally August Job Openings Fall To 14- Month Low Powell Says Fed Could Slow Down Pace Of Interest Rate Hikes As Early As December University Of Michigan Inflation Expectations Rise For First Time In Seven Months Lower Than Expected October CPI Raises Hopes For Slower Tightening Apple Gains On Earnings Help Push Stocks Higher Smaller Than Expected Increase In CPI Lifts Investor Confidence Pace Of Rate Hikes Expected To Slow 23City Council Regular Meeting - Page 52 of 124 Disclosure This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. 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The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates. Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction. GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation. Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021. Many eyes have focused on October’s inflation data, and a range of measures was better than expected. The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding. While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend. Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000. City Council Regular Meeting - Page 54 of 124 2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals. As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure. Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer. So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier. CONFERENCE BOARD GLOBAL ECONOMIC REPORT Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world. The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and 2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth. Europe Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the City Council Regular Meeting - Page 55 of 124 3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession. After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth. China The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth. After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024. Emerging Markets Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine). City Council Regular Meeting - Page 56 of 124 A genda Item # 10. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Mark F lores, D irector of Recreation & C ommuni ty S ervices S U B J E C T: A UTHORIZING R E S OL UTIO N TO S E C U R E S P E C IF IE D GRA NT F UND S S UP P ORTING TH E URB A N B IK E TRA IL S A ND WATE R Q UA L ITY IM P RO V E M E NTS P RO J E C T Recommendation: S taff recommends that the C ity C ouncil consider this A genda S taff Report and adopt the attached resoluti on entitled: “RE S O L UTION O F THE C ITY C O UNC IL OF THE C ITY O F LYNW O OD A P P ROV ING A P P L IC ATION(S ) F O R S P E C IF IE D G RA NT F UND S F ROM B UD G E T A C T 2022/23.” Background: The purpose of thi s item is to have the Lynwood C ity C ouncil adopt the accompanying Resolution as part of the formal process needed to accept and access S peci fi ed Grant funding awarded to supporting the Urban B i ke Trails and Water Quali ty Improvements project. P er grant requi rements, an authorizing resolution from the C i ty’s governing body is required to approve the filing of all applications associated with this grant program and its contracts and to identify our agency’s authorized representati ve/s. Discussion and Analysis: In November 2022, the C ity received notice that it was awarded a S pecified Grant from the 2022/23 C ali forni a S tate B udget, C hapter 249/2022, Item Number 3790-101-001, S ecti on 19.56(9) (b) (1) (A Z) $900,000 to support the Urban B ike Trails and Water Quality Improvements project. The first step in securing these specified funds i s to have the C ity’s governing board adopt the accompanyi ng Resolution. Once approved, an executed copy will be forwarded to the C ity’s assigned P rogram Manager at the C A Office of Grants and L ocal S ervices (O GA L S ). It is required that grantees pass a single resolution approvi ng the filing of all appli cations associated with this grant program and its contracts. The A uthorizi ng Resolution serves two purposes: City Council Regular Meeting - Page 57 of 124 1. It is how the grantee’s Governing B ody agrees to the terms of the contract; i t provides confirmation that the grantee has the funding to complete, operate and maintai n projects associated with the contract. 2. It designates a position title to represent the Governing B ody on all matters regarding projects associated with the contract. The incumbent in this posi ti on is referred to as the authorized representative. The authori zed representative can delegate signatory authority to other individuals (by posi ti on title) either in entirety or for particular documents. The delegation process requires the authori zed representative to submit a letter (on letterhead) or email to OGA L S delegating authority. A fter the executed Resoluti on is received at OG A L S and staff participates in an administrative overview presentati on, OGA L S will generate the grant contract and send to our authorized representative for final signatures. The grant performance period is July 1, 2022 – J une 30, 2026. S taff recommends that the C ity C ounci l approve and adopt the authorizing resolution. O GA L S requi res that the accompanying resoluti on be formatted as presented. Fiscal Impact: The requested action does not have a fiscal impact. Coordinated With: C ity Manager F inance D epartment C ity A ttorney’s Office AT TAC H ME N T S: Description Resolution - OGALS Specified Grant Urban Bike Trails City Council Regular Meeting - Page 58 of 124 Resolution No: __________________ RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING APPLICATION(S) FOR SPECIFIED GRANT FUNDS FROM BUDGET ACT 2022/23 Specified Grant from the 2022/23 California State Budget, Section19.56 (b) (1) (AZ) $900,000 to the City of Lynwood for the Urban Bike Trails and Water Quality Improvements project WHEREAS, the State Department of Parks and Recreation has been delegated the responsibility by the Legislature of the State of California for the administration of a grant to the City of Lynwood, setting up necessary procedures governing application(s); and WHEREAS, said procedures established by the State Department of Parks and Recreation require the applicant’s Governing Body to certify by resolution the app roval of project application(s) before submission of said applications to the State; and WHEREAS, the applicant will enter into a contract with the State of California to complete project(s); NOW, THEREFORE, BE IT RESOLVED THAT THE CITY OF LYNWOOD HEREBY: 1. Approves the filing of project application(s) for specified grant project(s); and 2. Certifies that said applicant has or will have available, prior to commencement of project work utilizing specified grant funds, sufficient funds, including those provided by this grant, to complete the project; and 3. Certifies that the applicant has or will provide sufficient funds to operate and maintain the project(s); and 4. Certifies that the applicant has reviewed, understands, and agrees to the Provisions contained in the contract in this Procedural Guide; and 5. Delegates the authority to the Lynwood City Manager, or designee to conduct all negotiations, sign and submit all documents, including, but not limited to applications, agreements, amendments, and payment requests, whi ch may be necessary for the completion of the project scope(s); and 6. Agrees to comply with all applicable federal, state and local laws, ordinances, rules, regulations and guidelines. PASSED, APPROVED AND ADOPTED THIS 17TH DAY OF JANUARY, 2023 _________________________ Oscar Flores, Mayor ATTEST: _______________________ __________________________ Maria Quinonez Ernie Hernandez City Clerk City Manager City Council Regular Meeting - Page 59 of 124 APPROVED AS TO FORM: APPROVED AS TO CONTENT: ________________________ __________________________ Noel Tapia, Mark Flores, Director City Attorney Recreation & Community Services City Council Regular Meeting - Page 60 of 124 STATE OF CALIFORNIA } } SS. COUNTY OF LOS ANGELES } I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the Lynwood City Council at a regularly scheduled meeting held on the 17th day of January, 2023. AYES: NOES: ABSENT: ABSTAIN: __________________________ Maria Quinonez, City Clerk STATE OF CALIFORNIA } } SS. COUNTY OF LOS ANGELES } I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the above and foregoing is a full, true and correct copy of Resolution No. ______ on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 17th day of January, 2023. __________________________ Maria Quinonez, City Clerk City Council Regular Meeting - Page 61 of 124 A genda Item # 11. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Mark F lores, D irector of Recreation and C ommunity S ervices S U B J E C T: 2023 LYNW OOD 5K R U N/WA L K Recommendation: S taff recommends that the C ity C ouncil adopt the attached resoluti on enti tled: “A RE S OL UTION O F THE C ITY C O UNC IL O F THE C ITY OF LYNW OO D A UTHO RIZING THE LYNW OOD 5K R U N/WA L K P ROG RA M A N D A P P ROV ING A TO TA L A M OU N T NO T TO E X C E E D $20,000 TO S UP P ORT THE P RO GRA M.” Background: The Lynwood P artners E ducational F oundation (L P E F ) is proposing to partner with the C ity of Lynwood to offer the 2023 Lynwood 5K R un/Walk event to take place on May 13th, 2023 on Lynwood city streets. In conti nuing the success of the 2022 event, the 2023 event aims to provide a signi ficant community-building program that also raises funds to support scholarships and student support programs directly benefitting Lynwood youth. S taff is requesting authority from the C ity C ouncil to partner with the L P E F, appropriate funding i n support of the event and to temporarily close designated streets and public areas that will make up the final road course. Discussion and Analysis: The C ity of Lynwood has offered 5K program opportuniti es to Lynwood residents throughout its history. The C i ty partnered with S t. F rancis Medical C enter (S F M C ) on the famed Nun Run from 1984 through the early 1990s and a one-time revival of the Nun Run in 2010. More recently, the C ity sponsored two 5K events in F ebruary (S F M C ) and in November 2012 – a C ity-produced run/walk to support fundrai si ng efforts benefi tti ng a city special event. L astly, the C i ty supported the Lynwood S heriff’s C entury S tati on 5K events in 2013 and in 2015. F urthermore, running has traditionally been a sport that Lynwood youth have excelled at – with over 1,000 local youth participating each year in C ity-led track meets each S pring. Our community has a storied hi story of local young men and women going on to compete in national youth-level, college-level and professional ranks. Mindful of the positive impact and the importance of running opportunities to the community, the C ity has long expressed interest in continuing to offer similar running events. However, due to the substantial personnel and City Council Regular Meeting - Page 62 of 124 budgetary resources needed to produce a large-scale 5K event, the C ity is unable to produce a 5K event on its own. The Lynwood P artners E ducational F oundation (L P E F ) – the charitable foundation of the Lynwood Unified S chool D istrict (L U S D ) - is formally proposing to once again partner wi th the C ity of Lynwood to produce a community 5K Run/Walk in 2023. The ai m is to bring a yearly, large-scale community-building event that rai ses funds for Lynwood student scholarships and academic support programs. A successful partnership with the L P E F is an excellent opportunity to bring an on-going 5K event to our community, while saving the C ity the signi fi cant resources needed to self-produce an event. Summary of 2022 5K E vent: Registered Race P articipants 572 E vent S ponsorships $30,225 Registration F ee Revenues $8,182 Net P roceeds for S cholarships and A cademi c S upport P rograms $22,065.97 2023 Event Partnership with the LPE F A collaborative production of the 2023 Lynwood 5K with the Lynwood P artners E ducational F oundation (L P E F ) involves: · C ity of Lynwood and L P E F as co-presenters of the event. · L P E F to lead event planni ng efforts and be responsi ble for the ≈$14,000 organizer fee to the professi onal event organi zing fi rm (Aztlan Athletics ) and all event insurances. · L P E F will process and collect all registrations and participant fees (100% of net proceeds benefit L P E F scholarships and academic programs for Lynwood students) · The C ity will be responsible for major event-day logi sti cs that include: o S treet closures (staffing and rentals, traffic planning) o S heriff support o S tart/F i ni sh event area: organize vendor and resource fair, stage with local entertainment, D J , etc. · The L P E F will be requi red to notify all busi nesses and residents along the requested race route. The notification i s to be delivered at least two weeks prior to the race. · P roposed road course and event layout is similar to the 2022 event. · Target P articipant Registrations = 750 B y agreeing to the proposed partnership, the C ity will be able to achieve the long-standing goal of hosting a professional 5K Run/Walk - without having to strain its limited staff resources or having to impact other programs in order to focus on self-producing a 5K event. The long-term goal is to establish a self-supporting and recurri ng community 5K event. S hould an event partnership not be approved by the C ity, the L P E F and the Lynwood Unified S chool D istri ct will seek to move the event forward through the C ity’s S pecial E vent permit process. Through adoption of the accompanying resolution, staff recommends that the C ity C ounci l authorize staff to (a) partner with the L P E F to produce a 5K event, (b) allocate funding to support event production, (c) authorize staff to finalize and designate an appropriate race course on C i ty streets and (d) to waive special event and facility use permit fees as the C i ty wi ll co-present the event. S taff requests the approval of a total amount not to exceed $20,000. Fiscal Impact: S taff is requesti ng approval of an appropriation of $20,000 from the Unappropriated General F und as follows: Fund D ept D iv O bject D escription Amount 1011 Budgetary Transfer Out General Fund $20,000 1011 B udget Fund Balance ($20,000) City Council Regular Meeting - Page 63 of 124 Budgetary Transfer In 1011 60 701 62015 P rofessional/C ontr. S ervic es $9,000 1011 60 701 64020 C ommunity Activities E xpenses $7,000 1011 60 701 60015 O vertime $4,000 Coordinated With: F inance C ity A ttorney P ublic Works AT TAC H ME N T S: Description Resolution 2023 Lynwood 5K 10K C ourse and layout City Council Regular Meeting - Page 64 of 124 RESOLUTION NO. ________________ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AUTHORIZING THE LYNWOOD 5K/10K RUN/WALK PROGRAM AND APPROVING A TOTAL AMOUNT NOT TO EXCEED $20,000 TO SUPPORT THE PROGRAM WHEREAS, the City of Lynwood wishes to partner with the Lynwood Partners Educational Foundation to develop, co-present and execute the 2023 Lynwood 5K/10K Run/Walk program to take place on Saturday, May 13th or 20th, 2023; and WHEREAS, the Lynwood City Council recognizes the significant community benefits of a 5K/10K Run/Walk program, including, but not limited to the promotion of healthy lifestyles, a community-building activity and the fundraising of much needed dollars to support the academic needs of Lynwood youth; and WHEREAS, it is estimated that the 2023 Lynwood 5K/10K Run/Walk program will serve over 750 race participants and 2,500 visitors of the event; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER AND RESOLVE AS FOLLOWS: Section 1. The City Council for the City of Lynwood finds and declares that the forgoing recitals are true and correct, and incorporates said recitals fully into this Resolution as substantive findings. Section 2. The City Council further finds that the requested supp ort and program serves the important public purpose of presenting a substantially beneficial community-building event for Lynwood residents. Section 3. The City Council further authorizes the City Manager to direct staff to complete the program and identify and approve the appropriate financial accounts to support the program as presented. Section 4. The City Council approves the following estimated event City costs, that are not to exceed $20,000 total for the event:  Sheriff’s Department Support Services $9,000  Materials, Supplies & Rentals $7,000  Staff Time $4,000 City Council Regular Meeting - Page 65 of 124 Section 5. The City Council approves the following appropriation: Fund Dept Div Object Description Amount 1011 Budgetary Transfer Out General Fund $20,000 1011 Budget Fund Balance ($20,000) Budgetary Transfer In 1011 60 701 62015 Professional/Contr. Services $9,000 1011 60 701 64020 Community Activities Expenses $7,000 1011 60 701 60015 Overtime $4,000 Section 6. The Lynwood City Council recognizes the significant public benefit of a City-supported 5K/10K Run/Walk event in 2023 and waives all applicable City special event permit and facility use fees and authorizes staff to provide support services to the event, including the event-related closures of City streets that comprise the final event course. Section 7. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood. Section 8. This Resolution shall take full force and effect immediately upon adoption by the City Council. Section 9. The City Clerk shall certify as to the adoption of this City Council Resolution. PASSED, APPROVED AND ADOPTED THIS 17th day of January 2023. __________________________ Oscar Flores, Mayor ATTEST: ___________________________ __________________________ Maria Quinonez, City Clerk Ernie Hernandez, City Manager City Council Regular Meeting - Page 66 of 124 APPROVED AS TO FORM: APPROVED AS TO CONTENT: ___________________________ __________________________ Noel Tapia, City Attorney Mark Flores, Director of Recreation & Community Services STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the above and foregoing resolution was duly adopted by the City Council of said City at its regular meeting thereof held in the City Hall of the City on the _________day of____________, 2023 and passed by the following vote: AYES: NOES: ABSTAIN: ABSENT: __________________________ City Clerk, City of Lynwood STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council of said City, do hereby certify that the above and foregoing is a full, true and correct copy of Resolution No. _________ on file in my office and that said resolution was adopted on the date and by the vote therein stated. City Council Regular Meeting - Page 67 of 124 Dated this ______ day of ________________, 2023. ___________________________ City Clerk, City of Lynwood City Council Regular Meeting - Page 68 of 124 Mile 1 Mile 2 Mile 3 Street closure Vendor, exhibitor, performer Parking Parking LotsCity Council Regular Meeting - Page 69 of 124 A genda Item # 12. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Maria Quinonez, C ity C lerk S ilvia P ineda, A ssistant to the C ity C lerk S U B J E C T: C ITY C O U N C IL D IS C US S ION A ND GUID A NC E R E GA RD ING THE S E L E C TIO N A ND A P P OINTM E NT OF C ITY TRE A S URE R Recommendation: S taff recommends that the C ity C ouncil discuss and provide guidance regarding the selection and appointment of C ity Treasurer. C ity C ouncil Opti ons: The C ity C ounci l has the following options: 1. A ccept and revi ew the applications submitted and make appointment for C ity Treasurer. 2. A ccept and review the appli cations submitted. S chedule a S pecial C ity C ouncil Meeting to conduct interviews and make an appointment for C ity Treasurer by F ebruary 4, 2023. 3. Ac c ept and review the applications submitted. C reate an ad hoc committee that will interview and make recommendations to the C ity C ouncil on appointment of the C ity Treas urer by February 4, 2023. 4. C ity C ouncil may provide alternative direction. Background: The C ity Treasurer position has become vacant with the election of Gabriela C amacho to the C ity C ouncil. Under Government C ode S ecti on 36512(b), the C ity must either appoint a person or call for a special election to fill the vacancy wi thi n 60 days of the commencement of the vacancy: "If a vacancy occurs i n an elective office provided for in thi s chapter, the council shall, within 60 days from the commencement of the vacancy, either fill the vacancy by appoi ntment or call a special election to fill the vacancy. The speci al election shall be held on the next regularly established election not less than 114 days from the call of City Council Regular Meeting - Page 70 of 124 the special election. A person appointed or elected to fill a vacancy holds office for the unexpired term of the former incumbent." The vacancy commences when the C ity Treasurer takes the oath of office as a C ouncil Member. However, if the C ity C ouncil does not appoint a replacement by the 60-day deadline, then it must call a special election to fill the vacancy. (Government C ode S ection 1770, 36512). On D ecember 6, 2022, the C ity C ouncil directed that the C ity Treasurer vacant position be advertised through January 2, 2023. A pplicants were asked to submit a C i ty application, letter of interest, resume and/or bi ography. The deadline for applicati ons was set for J anuary 2, 2023 at 5:00 pm. There were a total of five (5) appli cants. S ee attached li st. A pplications received were e-mailed and provided directly to members of the C ity C ounci l on January 3, 2023. The statutory 60-day period to appoint a C ity Treasurer began D ecember 6, 2022 and ends on F ebruary 4, 2023. Discussion and Analysis: The Lynwood Municipal C ode does not include an appointment process for filling vacancies in elective offi ces. However, state law places some limi tations on the appointment process. Government C ode S ection 36502(a) states: "A person i s not eligible to hold office as counci lmember, city clerk, or city treasurer unless he or she is at the time of assuming the offi ce, an elector of the city, and was a registered voter of the city at the time nomination papers are issued to the candidate as provided for in S ection 10227 of the E lection C ode." "If, during hi s or her term of office, he or she moves his or her place of residence outside of the city limits or ceases to be an elector of the city, his or her office shall immediately become vacant." A ny appointee to the C i ty Treasurer position must be a Lynwood resident and regi stered to vote in Lynwood. In addition, the B rown A ct requires any interviews be conducted by the entire C ity C ouncil in open session. A pplicants for C i ty Treasurer C onsideration: The following candi dates have submitted their application for consi deration: 1. J orge C asanova 2. L uis Gerardo C uellar 3. Rebecca C astro 4. Yolanda Rodri guez Gonzalez 5. L inda M. George The C ity C ouncil must appoint someone as C ity Treasurer or call for a special election to fill the vacant C i ty Treasurer posi ti on by F ebruary 4, 2023. Fiscal Impact: N/A Coordinated With: C ity Manager's Offi ce City Council Regular Meeting - Page 71 of 124 AT TAC H ME N T S: Description City Treasurer List of Applicants City Treasurer Applications Resolution City Council Regular Meeting - Page 72 of 124 City of Lynwood 11330 Bullis Road Lynwood, CA 90262 310) 603-0220 www.Iynwoodca.gov APPLICATION FOR CITY TREASURER APPOINTMENT All information provided by applicant is considered a "public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online. ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE APPOINTED CITY TREASURER WILL BE REQUIRED TO FILE A FAIR POLICTICAL PRACTICES COMMISSION (FPPC) STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE. FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M. Please attach a letter of interest, resume and/or biography and submit all documents no later than 5:00 p.m. on Monday, January 2, 2023 to: Attn: Maria Quinonez, City Clerk City of Lynwood 11330 Bullis Road Lynwood, CA 90262 NAME:Application Letter of Interest Resume Biography Date Received Jorge Casanova V 12/19/22 Luis Gerardo Cuellar 12/26/22 AI 12/21/22 Rebecca Castro J 12/30/22 Yolanda Rodriguez Gonzalez 1/2/23 Linda M. George V I 1/2/23 1 City Council Regular Meeting - Page 73 of 124 City of Lynwood 11330 Bullis Road Lynwood, CA 90262 310) 603-0220 www.Iynwoodca.gov APPLICATION FOR CITY TREASURER APPOINTMENT Jorge Casanova City Council Regular Meeting - Page 74 of 124 City of Lynwood RECEIVED 11330 Bullis Road Lynwood, CA 90262 DEC 1 9 2022310) 603-0220 www.lynwoodca.gov CITY OF LYNWOOD CITY CLERKS OFFICE APPLICATION FOR CITY TREASURER APPOINTMENT All information provided by applicant is considered a "public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online. ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE APPOINTED CITY TREASURER WILL BE REQUIRED TO FILE A FAIR POLICTICAL PRACTICES COMMISSION (FPPC) STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE. i FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M. Name: d CA Cr Ca5CATIO \JO\ Phone: Home Address: City Resident: Yes V No Registered Voter: Yes \I No Email: Education: High School, College, or University Attended From/To Type of Degree Main Course of Study Lin C {)Mho /Year r/Y,eaarr Other Formal Training or Education (e.g. internship, certificate program, technical school): 1 City Council Regular Meeting - Page 75 of 124 EMPLOYMENT HISTORY Include any experience within the last 10 years and begin with most recent employer. From:To:Annual Salary:Position Title: Mo./Year 1:2-01 Mo /Year 11/012,1). Starting 100 Ending 3D LWACA M nVeK- Name of Em loyer: Ck L`-(GP0°A Type of Business: 00‘t c Altel Address:Name of Supervisor: Phone:Number of Employees Supervised: Reason for Leaving: f etiCt Description of Duties erktl\C:d labsAY)-e've- WrS-c-C— From:To:Annual Salary:Position Title: Mo /Year Mo./Year Starting Ending ozsaem, ice° Na e of Emplo er: 1 Type of Business: Address: n Lind EE. tic(t cl Co b r col - Name of Supervisor: Phone:Number of Employees Supervised: Reason for Leaving: Description of Duties 1/40eS.1144/v(- /Cep bjicr 2 City Council Regular Meeting - Page 76 of 124 ommunity Experience:ccue(;\ / NA„_vt1Nc 6„(Nctoc..e wy.(y.. rc oar, o'‘ ke-4— v -r, rr,, b-aswce- Civil, Fraternal, or Professional Memberships/Obligations: DECLARATION I declare under penalty of perjury under the laws of the State of California that all information stated in this application and all attached pages are true, correct and complete to the best of my knowledge and belief. I further declare that I am 18 years of age or older, a resident and registered voter of the City of Lynwood. Signature:Date: ' 2022 Please attach a letter of interest, resume and/or biography and submit all documents no later than 5:00 p.m. on Monday, January 2, 2023 to: Attn: Maria Quinonez, City Clerk City of Lynwood 11330 Bullis Road Lynwood, CA 90262 Or email signed copies to: mquinonez@lynwoodca.gov. Applications and attachments submitted or received after the above -stated time will not be accepted or considered. Please contact Maria Quinonez, City Clerk, at (310) 603-0220 ext. 510 if you have any questions. INDIVIDUALS WITH DISABILITIES REQUIRING ANY ACCOMMODATION TO PARTICIPATE IN THE APPLICATION AND SELECTION PROCESS MUST INFORM THE CITY OF LYNWOOD AT THE TIME THIS APPLICATION IS SUBMITTED. INDIVIDUALS NEEDING SUCH ACCOMMODATIONS MUST DOCUMENT THE NEED FOR SUCH ACCOMMODATIONS INCLUDING THE TYPE AND EXTENT OF ACCOMMODATIONS NEEDED TO COMPLETE THE APPLICATION FORM, PARTICIPATE IN THE SELECTION PROCESS, OR PERFORM THE DUTIES FOR WHICH THEY ARE APPLYING FOR. FOR OFFICE USE ONLY: Voter Registration Verified by 0 Date• Likik-CP>P2- kAA 4 City Council Regular Meeting - Page 77 of 124 City of Lynwood 11330 Bullis Road Lynwood, CA 90262 310) 603-0220 www.Iynwoodca.gov APPLICATION FOR CITY TREASURER APPOINTMENT Luis Gerardo Cuellar City Council Regular Meeting - Page 78 of 124 RECEIVED City of Lynwood bEt 2 1 2022 11330 Bullis Road Lynwood, CA 90262 310) 603-0220 CITY OF LYNWOOD www.Iynwoodca.gov CITY CLERKS OFFICE APPLICATION FOR CITY TREASURER APPOINTMENT All information provided by applicant is considered a "public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online. ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE APPOINTED CITY TREASURER WILL BE REQUIRED TO FILE A FAIR POLICTICAL PRACTICES COMMISSION IFPPC1 STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE. FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M. Name: Luis Gerardo Cuellar Home Address: Phone: City Resident: Yes X No Registered Voter: Yes X No Email: Education: High School, College, or University Attended From/To Type of Degree Main Course of Study Mo./Year Mo./Year University of Arizona Aug / 2012 May / 2016 Bachelor of Science Finance University of Southern California Aug 12019 May / 2020 Masters Business Other Formal Training or Education (e.g. internship, certificate program, technical school): United States Marine Corps Financial Management School 1 City Council Regular Meeting - Page 79 of 124 EMPLOYMENT HISTORY Include any experience within the last 10 years and begin with most recent employer. From:To:Annual Salary:Position Title: Mo./Year Dec 2014 Mo./Year Jan 2015 Starting 0 Ending 0 Intern Name of Employer: City of Lynwood, Office of the City Manager Type of Business: Government Entity Address: 11330 Bullis Rd. Lynwood, CA 90262 Name of Supervisor: Arnoldo Beltran, City Manager Phone: 310-603-0220 Number of Employees Supervised: 0 Reason for Leaving: Internship Complete Description of Duties Saved taxpayers over $1 million after conducting an audit on the City's Tree Trimming vendor and finding that the vendor was not fulfilling contractual requirements under direction of the City Manager. From:To:Annual Salary:Position Title: Mo./Year Mo./Year Starting Ending Name of Employer:Type of Business: Address:Name of Supervisor: Phone:Number of Employees Supervised: Reason for Leaving: Description of Duties 2 City Council Regular Meeting - Page 80 of 124 EMPLOYMENT HISTORY Continued From:To:Annual Salary:Position Title: Mo./Year July 2020 Mo./Year Present Starting 70,000 Ending Managing Partner Name of Employer: ASM Premier Consultants Type of Business: Consulting Firm Address:Name of Supervisor: None Phone:Number of Employees Supervised: Project Dependant Reason for Leaving: N/A Description of Duties Guide clients through efficient structuring and successful launching of several businesses by providing training, staff augmentation, and other resources pertaining to client needs. Ensure client businesses are operating within local and state regulations in a highly regulated industry to ensure full compliance and audit readiness. Provide Project Management services to assist clients with vertically integrating their companies by guiding them through the license, permit, and building process. From:To:Annual Salary:Position Title: Mo./Year Oct 2017 Mo./Year May 2020 Starting 102,000 Ending Deputy Comptroller Name of Employer: United States Marine Corps Type of Business: Government Finance Address: Camp Pendleton, CA Name of Supervisor: Kevin Stier Phone: 541-827-9166 Number of Employees Supervised: 5-10 Reason for Leaving: End of Service Description of Duties Actively managed over $30 million in expenditures for higher headquarter funded exercises with over $4 billion of assets under management. Developed and implemented a ledger that reflects over $60 million of appropriated funds received from higher headquarters to provide an accurate picture of total funding broken down by appropriation. Planned and phased the $20 million operational budget for Fiscal Year 2018 Budget within the constraints of 4 Congressional Continuing Resolution Authorities. You may attach additional copies if needed. 3 City Council Regular Meeting - Page 81 of 124 City Council Regular Meeting - Page 82 of 124 City Council Regular Meeting - Page 83 of 124 City Council Regular Meeting - Page 84 of 124 City Council Regular Meeting - Page 85 of 124 City Council Regular Meeting - Page 86 of 124 City Council Regular Meeting - Page 87 of 124 City Council Regular Meeting - Page 88 of 124 City Council Regular Meeting - Page 89 of 124 City Council Regular Meeting - Page 90 of 124 City Council Regular Meeting - Page 91 of 124 City Council Regular Meeting - Page 92 of 124 City Council Regular Meeting - Page 93 of 124 City Council Regular Meeting - Page 94 of 124 City Council Regular Meeting - Page 95 of 124 City Council Regular Meeting - Page 96 of 124 City Council Regular Meeting - Page 97 of 124 City Council Regular Meeting - Page 98 of 124 City Council Regular Meeting - Page 99 of 124 City Council Regular Meeting - Page 100 of 124 City Council Regular Meeting - Page 101 of 124 City Council Regular Meeting - Page 102 of 124 City Council Regular Meeting - Page 103 of 124 City Council Regular Meeting - Page 104 of 124 City Council Regular Meeting - Page 105 of 124 City Council Regular Meeting - Page 106 of 124 City Council Regular Meeting - Page 107 of 124 City Council Regular Meeting - Page 108 of 124 City Council Regular Meeting - Page 109 of 124 City Council Regular Meeting - Page 110 of 124 City Council Regular Meeting - Page 111 of 124 City Council Regular Meeting - Page 112 of 124 City Council Regular Meeting - Page 113 of 124 City Council Regular Meeting - Page 114 of 124 City Council Regular Meeting - Page 115 of 124 City Council Regular Meeting - Page 116 of 124 City Council Regular Meeting - Page 117 of 124 City Council Regular Meeting - Page 118 of 124 RESOLUTION NO. 2023.XXX A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPOINTING __________________ AS THE CITY TREASURER TO FILL THE UNEXPIRED TERM OF FORMER CITY TREASURER GABRIELA CAMACHO WHEREAS, the City Treasurer position has become vacan t with the election of Gabriela Camacho to the City Council; and WHEREAS, Government Code Section 36512(b) states that the City Council must either appoint a person or call for a special election within 60-days of the position becoming vacant; and WHEREAS, on December 20, 2022, the City Council decided to appoint a registered voter to be City Treasurer for the unexpired term of Gabriela Camacho and directed that the position be advertised through January 2, 2023; and WHEREAS, the City received a total of 5 applications for City Treasurer; and WHEREAS, the City Council will carefully review the qualifications of the applicants at its Regular open meeting on January 17, 2023 or at a Special meeting to be determined at a future date; and WHEREAS, the statutory 60-day period to appoint a City Treasurer began December 6, 2022 and ends on February 4, 2023; and NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS: Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates th em herein as findings and as a substantive part of this Resolution. Section 2. The City Council appoints ___________, as City Treasurer to fill the unexpired term of former City Treasurer Gabriela Camacho conditioned upon the verification of the appointee’s eligibility to serve. Section 3. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood. Section 4. This Resolution shall take full force and effect immediately upon adoption by the City Council. Section 5. The City Clerk shall certify as to the adoption of this City Council Resolution. City Council Regular Meeting - Page 119 of 124 PASSED, APPROVED and ADOPTED this 17th day of January, 2023. ____________________________ Oscar Flores, Mayor ATTEST: ____________________________ Maria Quinonez, City Clerk APPROVED AS TO FORM: APPROVED AS TO CONTENT: ___________________________ ___________________________ Noel Tapia, City Attorney Ernie Hernandez, City Manager STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a Regular meeting held on the 17th day of January, 2023. AYES: COUNCIL MEMBERS City Council Regular Meeting - Page 120 of 124 NOES: ABSENT: ABSTAIN: ___________________________ Maria Quinonez, City Clerk STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2023.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 17th day of January, 2023. ___________________________ Maria Quinonez, City Clerk City Council Regular Meeting - Page 121 of 124 A genda Item # 13. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Maria Quinonez, C ity C lerk S ilvia P ineda, A ssistant to the C ity C lerk S U B J E C T: RE V IE W OF B O A R D , C OMMIS S ION A ND C O M M ITTE E M E M B E RS & A NNUA L B O A RD S , C OM M IS S IONS A ND C OMMITTE E S L OC A L A P P OINTM E NT L IS T Recommendation: S taff recommends that the C ity C ouncil review the list of B oard and C ommission members. C urrently, there are various vacancies to the B oards and C ommissions including the C ommunity D evelopment B lock Grant B oard, P ublic S afety/Traffic & P arking C ommi ssion, P ersonnel B oard, P lanning C ommi ssi on and the C itizens Oversight C ommittee. In accordance with the rules outlined below, the C ity C ouncil may make any adjustments to these B oards and C ommissions, as it deems appropriate. A dditionally, staff recommends that the C ity C ouncil direct staff to post the attached Lynwood B oards and C ommission A ppoi ntment L ist pursuant to Government C ode S ection 54970 requirements. Background: A t its D ecember 20, 2022 C ity C ouncil meeting, members of the C ity C ouncil made appointments to the vari ous C ity of Lynwood B oards and C ommissions. A ttached is the list showing where the vacancies exist. The Maddy A ct requires that this li st be posted at a accessible public locati on and be available to members of the publi c Discussion and Analysis: Lynwood Municipal C ode S ubsection 2-12.4 specifies the appointment and term of members: a. C andidates for appointment to subsidiary public bodies shall be nominated by a council member and c onfirmed by a vote of the council. The appointed and confirmed candidates shall serve on the subsidiary public bodies to which they have been appointed until the earlier of: 1. A replac ement is presented to the council for confirmation by the appointing council member; 2. The appointing council member's term in office has ended; or City Council Regular Meeting - Page 122 of 124 3. The res ignation of an appointee. b. Members of subsidiary public bodies shall hold office until their successors are appointed, qualified and take offic e. c. Any and all provisions of this code relating to terms of offic e for members of subsidiary public bodies are hereby repealed and shall be governed by the provisions of this section. (O rd. #1584, §1) LMC S ubsection 2-12.1 (a)(2) states “T he city council may remove any member of any commission, board or c ommittee at any time and without cause; provided, however, that any action of the c ity council to remove a member of the pers onnel bo ar d f r o m office prior t o t h e expiration of his term shall not be effec t ive un l es s approved by at least four (4) councilmembers .” Fiscal Impact: N/A Coordinated With: N/A AT TAC H ME N T S: Description Appointment List - Maddy Act 2023 City Council Regular Meeting - Page 123 of 124 BOARD, COMMISSION AND COMMITTEE APPOINTMENTS LIST THROUGH DECEMBER 31, 2023 In compliance with the requirement of the Maddy Act, pursuant to Government Code Section 54972, the following is a list of the City of Lynwood’s Boards and Commission members whose terms run through Decembe r 31, 2023. The qualifications necessary to be appointed to a Board or Commission include being a resident of the City of Lynwood and at least 18 year s of age. Appointment dates are shown following each name. CDBG BOARD PUBLIC SAFETY/TRAFFIC & PARKING COMMISSION PERSONNEL BOARD PLANNING COMMISSION CITIZEN OVERSIGHT COMMITTEE Meets the 1st Wednesday of each month at 6:00 p.m. in designated location on an as needed basis Director: Gabriel Linares Staff: Suzanne Trejo Meets the 4th Thursday of each month at 6:00 p.m. in designated location on an as needed basis Director: Julian Lee Staff: Dylan Watters Meets the 3rd Thursday of each month at 5:00 p.m. in designated location Director: Patrick Matson Staff: Maria Salas Meets the 2nd Tuesday of each month at 6:00 p.m. in designated location Director: Gabriel Linares Staff: Tom Fibres Meets the 4th Wednesday of each month at 6:00 p.m. in designated location Director: Gabriel Linares Staff: Suzanne Trejo SYLVIA RAMIREZ Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Flores FRANK CARRASCO Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Flores DEONDRA TISDALE Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Flores ARTURO RAMIREZ Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Flores DANIEL SALAZAR Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Flores CHRISTOPHER ACOSTA Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Pro Tem Soto EFREN LOPEZ Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Pro Tem Soto ROSEMILLIE LOPEZ Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Pro Tem Soto KENNETH WEST Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Pro Tem Soto ANDREA LOPEZ Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Mayor Pro Tem Soto VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Camacho VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Camacho VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Camacho VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Camacho VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Camacho VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Munoz- Guevara ROWLAND BECERRA Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Council Member Munoz- Guevara VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Munoz- Guevara LORRAINE MOORE 12/20/2022 Term Expires: 12/31/2023 Appointed by: Council Member Munoz- Guevara VACANT Appointment Date: Term Expires: 12/31/2023 Appointed by: Council Member Munoz- Guevara YOLANDA RODRIGUEZ- GONZALEZ Re-Appointment Date: 12/20/2022 Term Expires: 01/31/2023 Appointed by: Council Member Solache JOE BATTLE Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Council Member Solache GARY HARDIE Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Council Member Solache ROBERT GOMEZ Re-Appointment Date: 12/20/2022 Term Expires: 01/31/2023 Appointed by: Council Member Solache BRENDA RIVERA Re-Appointment Date: 12/20/2022 Term Expires: 12/31/2023 Appointed by: Council Member Solache Updated: 1/9/23 City Council Regular Meeting - Page 124 of 124 This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200. Procedures for Addressing the Council IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO CITYCLERK@LYNWOOD.CA.US OR FILL OUT A FORM PROVIDED AT THE PODIUM, AND TO TURN IT IN TO THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS CONSENT OF THE COUNCIL. AGE N D A City of Lynwood as Succe ssor Age ncy to the Lynwood Re de v e lopme nt Agency TO BE HE L D ON January 17, 2023 CO U N C I L C H A MB ERS - 11350 BULLI S RD. LY NWOOD, CA 90262 or We b confe rence via ZOO M - To participate v ia Zoom or by telephone : 1-669-900-9128 or 1-253-215-8782 Mee ting I D: 835 2029 8238 Duly Poste d on 1/12/2023 By MQ 6:00 PM 1.C ALL TO OR D ER 2.C E R T IF IC ATION OF AGE N D A P OS T IN G B Y S E C R E TARY 3.R OL L C AL L OF ME MB E R S Oscar F lores, Mayor Ri ta S oto, Mayor P ro Tem Gabri ela C amacho, C ouncil Member J uan Munoz-Guevara, C ouncil Member J ose L uis S olache, C ouncil Member P U B L IC OR AL C OMMU N IC AT ION S (Regarding Agenda Items Only) N ON-AGE N D A P U B LIC OR AL C OMMU N IC AT ION S THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD SUCCESSOR AGENCY ON ITEMS WITHIN THE JURISDICTION OF THE LYNWOOD SUCCESSOR AGENCY AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION OF THE ISSUE BY LYNWOOD SUCCESSOR AGENCY, BUT LYNWOOD SUCCESSOR AGENCY MAY REFER THE Lynwood Successor Agency - Page 1 of 46 MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54954.2 (a).) C ON SEN T C AL E N D AR ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION. 4.T R E AS U R E R'S MON T H LY IN V E S T ME N T R E P OR T Comments: The purpose of this item is to have the Honorable Mayor and the Lynwood C ity C ouncil, as S uccessor to Lynwood Redevelopment B oard revi ew the Treasurer ’s Monthly Investment Report as requi red by S tate S tatutes. (C T) Recommendation: The following is the Investment Report for the month ending D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is informed of the D epartment’s investment activities. The report satisfies the recommended reporting requi rements of the C ity of Lynwood, which addresses the C ity C ouncil’s request for monthly financial information. It is recommended that the C ity C ouncil for the C ity of Lynwood receive and file the attac hed Monthly Investment R eport. 5.AD OP T ION OF T H E R E C OGN IZE D OB L IGATION PAYMEN T SC H E D U L E F OR T H E P E R IOD OF JU LY 1, 2023 TO J U N E 30, 2024 (R OP S 23-24) AN D AD OP T ION OF T H E AD MIN IS T R AT IVE B U D GE T Comments: The S uccessor to the Lynwood Redevelopment A gency will consi der approving the Recogni zed Obligation P ayment S chedule (R OP S ) for the period of J uly 1, 2023 to J une 30, 2024, to facili tate the payment of "enforceable obligations". If the S uccessor to the Lynwood Redevelopment A gency does not submit the ROP S to the S tate D epartment of F i nance (D O F ) by F ebruary 1st, the S uccessor A gency shall be subject to a civil penalty equal to $10,000 per day for every day the schedule is not submitted to the D OF. The ROP S 23-24 has been prepared for consideration and the approval of the S uccessor to the Lynwood Redevelopment A gency to submi t to the S econd D i strict C onsolidated Oversight B oard in order to meet the F ebruary 1st deadline. (F IN) Recommendation: S taff recommends that the C ity C ounci l, as S uccessor to the Lynwood Redevelopment A gency, adopt the attached resolution entitled: “A RE S OL UTION O F THE C ITY C OUNC IL OF THE C ITY O F LYNW O OD , C OUNTY OF L OS A NGE L E S , S TATE OF C A L IF ORNIA , A S S UC C E S S O R TO TH E LYNW OOD RE D E V E L OP M E NT A GE NC Y A P P ROV ING THE RE C OG NIZE D OB L IGATION PAYM E NT S C HE D UL E C O V E RING TH E P E R IOD OF J ULY 1, 2023 TO J UNE 30, 2024 A ND A D OP TING THE A D M INIS TRATIV E B UD GE T”. AD J OU R N ME N T C ITY O F LYN W OO D A S S UC C E S S O R A GE NC Y TO THE LYNW OO D R E D E V E L O P M E NT A G E NC Y M E E TINGS W IL L B E P O S TE D A S NE E D E D . THE NE X T M E E TING W IL L B E HE L D IN THE C OUNC IL C HA M B E RS O F C ITY H A L L A NNE X , 11350 B UL L IS RO A D , C ITY OF LYNW O OD , C A L IF ORNIA . Lynwood Successor Agency - Page 2 of 46 A genda I tem # 4. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of Lynwood C ity C ouncil, as S uccessor to Lynwood Redevelopment B oard AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: S heila Harding, D eputy C ity Treasurer S U B J E C T: TRE A S URE R'S M O N TH LY INV E S TME NT RE P ORT Recommendation: The following is the Investment Report for the month endi ng D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is i nformed of the D epartment’s investment activi ti es. The report satisfies the recommended reporting requirements of the C i ty of Lynwood, which addresses the C ity C ouncil’s request for monthly fi nancial information. It is recom mended that the C ity C ouncil for the C ity of Lynwood rec eive and file the attached Monthly Investment R eport. Background: Government C ode S ection 53607, last amended 1996, with reference to the reporting of investment transacti ons states that the Treasurer shall make a monthly report of those transacti on to the legislative body. Government C ode S ection 53646 (b) (1), last amended 2004, with reference to discussion related to establishment of an Investment P olicy and i nvestment reporting states that “the Treasurer may render a quarterly report”. To determi ne the applicable code inasmuch as reference to Government C ode S ection 53607 or non-compli ance thereof has never been included i n past audit findings. While Government C ode S ection 53646 (b) (1) which is the most current version related to Investment Reporting utilizes the word “may” indicating the reporting mechanism is optional, to err on the side of caution, and in order to ensure that we are in compliance with all Government C odes, a new procedure of submitting monthly reports to the C ouncil/A gency agenda was implemented. A ttached for C ouncil/A gency revi ew is the C ity’s/A gency’s Monthly Treasurer ’s Report. Discussion and Analysis: The investment transactions were executed i n accordance with the C ity's Investment P olicy and the C ali forni a S tate Government C ode S ection 5346(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months. Lynwood Successor Agency - Page 3 of 46 Fiscal Impact: The action recommended in this report will not have a fiscal impact on the C ity. Coordinated With: F HN F inanci al Main S treet A dvisors currently monitors the C ity’s i nvestment activities. AT TAC H ME N T S: Description AC TIV IT Y & S U MMARY R E P OR T - D E C E MB E R 2022 F H N E C ON OMIC R EPOR T - D E C E MB E R 2022 N R F & C ON F E R EN C E B OAR D GL OB AL - D E C E MB E R 2022 Lynwood Successor Agency - Page 4 of 46 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 1 The following is the City’s cash flow and the monthly investment report. The monthly report includes a summary of the City’s investment portfolio, a monthly review of the investment market as prepared by the investment managers and detailed information on monthly transactions, cash flows and investments by issuer. FHN Investment Advisors manage the portion of investments not invested by LAIF (State Local Agency Investment Fund). The tables below provide key statistics regarding the City’s cash flow and investment portfolio as of December 31, 2022. Type Balances Held Cash - US Bank $48,689,265.10 Cash - JPMorgan Chase Bank $8,056,091.92 Local Agency Investment Fund $9,595,678.13 FHN Investment Advisors/BNY 25,744,440 .91 TOTAL $66,341,035.15 FHN ACCOUNT SUMMARY 31-Dec 30- Nov Market Value $35,344,239 $35,314,063 Book Value $36,481,176 $36,466,189 Variance (1,136,936) ($1,152,126) Par Value $36,500,250 $36,492,754 Net Asset Value $96.88 $96.84 Book Yield 2.38% 2.35% Market Yield 3.95% 3.88% Years to Maturity 1.69 1.75 Effective Duration 1.45 1.45 FHN INVESTMENT COMPLIANCE % % Company Book Value of Portfolio Allowed by Policy US Treasuries 6,499,374.86 17.82% 100% US Federal Agencies 10,450,169.07 28.65% 100% Supranational Obligations $0.00 0% 30% LAIF 9,595,678.13 26.30% 75% Commercial Paper 1,478,968.63 4.05% 25% Money Market Funds 52,571.67 0.14% 20% Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% Lynwood Successor Agency - Page 5 of 46 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 2 Corporate Obligations 3,488,790.30 9.56% 30% State and Local Governments $0.00 0% 100% Total 36,481,175.57 100.00% All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 2022. The City’s investments comply with its current investment policy, which emphasizes the safety, liquidity, and return of its investments, allowing the city to meet its expenditures for the next six months. PURCHASES & MATURITIES No Purchases or Redemptions for the month of December 2022. FHN INCOME EARNED SUMMARY December Month End Fiscal Year to Date INTEREST Interest Received/Purchased. 7,495.34 191,919.53 Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85 Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00 Total Earnings During Period 55,715.04 307,834.28 Lynwood Successor Agency - Page 6 of 46 Quarterly Economic and Market Update December 2022 Lynwood Successor Agency - Page 7 of 46 Economic and Market Update *Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY*8.6%16.0%(7.4%) Consumer Confidence 108.3 103.2 5.1 Gold (per ounce)$1,824.02 $1,660.61 $163.41 Dollar Index 103.52 112.12 (8.60) U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59) Retail Sales YOY*8.7%8.4%0.3% S&P 500 3,840 3,586 7.1% Consumer Price Index YOY*7.6%8.2%(0.6%) 1-5 Yr A-AAA Corporate Spread 0.69%0.81%(0.12%) Dow Jones 33,147 28,726 15.4% 30 Year Mortgage Rate 6.66%5.83%0.83% 1-5 Yr Agency Spread 0.07%0.03%0.04% 10 Year T-Note 3.88%3.83%0.04% U.S. Fed Debt Avg Yield*2.30%1.99%0.31% 3 Year T-Note 4.23%4.29%(0.06%) 5 Year T-Note 4.01%4.09%(0.09%) 2 Year T-Note 4.43%4.28%0.15% 3 Month T-Bill 4.37%3.27%1.10% Labor Force Participation 62.3%62.3%0.0% Effective Fed Funds Rate 4.33%3.08%1.25% U.S. Payrolls Monthly Change 223,000 269,000 (46,000) Unemployment Rate 3.5%3.5%0.0% 12/31/2022 Item 12/31/2022 9/30/2022 Change 2Lynwood Successor Agency - Page 8 of 46 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 12/31/2022 -1.4 5.2 4.7 1.8 3.3 2.3 1.3 0.6 2.4 1.2 2.4 2.0 1.7 2.0 3.4 4.1 2.8 2.8 2.9 0.7 2.2 2.7 3.6 1.8 -4.6 -29 . 9 35 . 3 3.9 6.3 7.0 2.7 7.0 -1.6 -0.6 3.2 1.1 0.0 -0.6 0.0 -45 -35 -25 -15 -5 5 15 25 35 45 Q1 2 0 1 4 Q2 2 0 1 4 Q3 2 0 1 4 Q4 2 0 1 4 Q1 2 0 1 5 Q2 2 0 1 5 Q3 2 0 1 5 Q4 2 0 1 5 Q1 2 0 1 6 Q2 2 0 1 6 Q3 2 0 1 6 Q4 2 0 1 6 Q1 2 0 1 7 Q2 2 0 1 7 Q3 2 0 1 7 Q4 2 0 1 7 Q1 2 0 1 8 Q2 2 0 1 8 Q3 2 0 1 8 Q4 2 0 1 8 Q1 2 0 1 9 Q2 2 0 1 9 Q3 2 0 1 9 Q4 2 0 1 9 Q1 2 0 2 0 Q2 2 0 2 0 Q3 2 0 2 0 Q4 2 0 2 0 Q1 2 0 2 1 Q2 2 0 2 1 Q3 2 0 2 1 Q4 2 0 2 1 Q1 2 0 2 2 Q2 2 0 2 2 Q3 2 0 2 2 Q4 2 0 2 2 Q1 2 0 2 3 Q2 2 0 2 3 Q3 2 0 2 3 Pe r c e n t U.S. GDP (Quarter over Quarter Annualized)* Estimates 3Lynwood Successor Agency - Page 9 of 46 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis 12/31/2022 Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 8.7 8.0 4.1 4.7 -0.6 7.1 2.1 2.1 -0.7 6.9 2.6 2.6 6.1 4.4 5.8 6.5 6.6 2.7 4.9 3.1 0.2 3.3 5.3 5.6 -0.5 -0.2 5.4 4.6 5.5 3.2 -0.3 2.5 -1.8 4.6 7.2 4.2 3.5 3.5 4.2 3.7 1.9 -0.1 3.5 2.8 4.0 2.7 3.8 4.4 4.5 4.8 4.1 1.0 1.7 2.8 3.9 3.5 2.8 2.0 0.1 -2.6 2.7 1.5 2.3 1.8 2.3 2.7 1.7 2.2 2.9 2.3 -2.8 5.9 1.9 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10 19 5 0 19 5 2 19 5 4 19 5 6 19 5 8 19 6 0 19 6 2 19 6 4 19 6 6 19 6 8 19 7 0 19 7 2 19 7 4 19 7 6 19 7 8 19 8 0 19 8 2 19 8 4 19 8 6 19 8 8 19 9 0 19 9 2 19 9 4 19 9 6 19 9 8 20 0 0 20 0 2 20 0 4 20 0 6 20 0 8 20 1 0 20 1 2 20 1 4 20 1 6 20 1 8 20 2 0 20 2 2 Pe r c e n t U.S. Annual GDP * 1980s 3.2%1990s 3.2%2000s 1.9%2010s 2.3%1960s 4.5%1970s 3.3%1950s 4.2% 4Lynwood Successor Agency - Page 10 of 46 Economic and Market Update Source: Bureau of Labor Statistics 12 Month Average Job Change 375,250 12/31/2022 -22 -20 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 2 4 6 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls Change -25.0 -20.0 -15.0 -10.0 -5.0 0.0 5.0 10.0 15.0 20.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls YOY Change 5Lynwood Successor Agency - Page 11 of 46 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 0 5 10 15 20 25 30 Ju n - 1 8 Au g - 1 8 Oc t - 1 8 De c - 1 8 Fe b - 1 9 Ap r - 1 9 Ju n - 1 9 Au g - 1 9 Oc t - 1 9 De c - 1 9 Fe b - 2 0 Ap r - 2 0 Ju n - 2 0 Au g - 2 0 Oc t - 2 0 De c - 2 0 Fe b - 2 1 Ap r - 2 1 Ju n - 2 1 Au g - 2 1 Oc t - 2 1 De c - 2 1 Fe b - 2 2 Ap r - 2 2 Ju n - 2 2 Au g - 2 2 Oc t - 2 2 De c - 2 2 Pe r c e n t Unemployment Rates U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6Lynwood Successor Agency - Page 12 of 46 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 M i l l i o n s U.S. Number of Employed Full-Time and Part-Time 60.0 60.5 61.0 61.5 62.0 62.5 63.0 63.5 64.0 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 Pe r c e n t U.S. Labor Force Participation Rate 7Lynwood Successor Agency - Page 13 of 46 Economic and Market Update Source: Department of Labor and Bloomberg 12/31/2022 Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work. 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 19 9 6 19 9 7 19 9 8 19 9 9 20 0 0 20 0 1 20 0 2 20 0 3 20 0 4 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 M i l l i o n s Weekly Initial Jobless Claims (4 Week Moving Average) 8Lynwood Successor Agency - Page 14 of 46 Economic and Market Update *Real: Inflation Adjusted Source: U.S. Census Bureau Source: Conference Board 12/31/2022 -30 -20 -10 0 10 20 30 40 50 60 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t U.S. Real* Retail Sales YOY % Change 40 50 60 70 80 90 100 110 120 130 140 Ju n - 1 2 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 De c - 2 2 In d e x V a l u e U.S. Consumer Confidence 9Lynwood Successor Agency - Page 15 of 46 Economic and Market Update CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 12/31/2022 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t CPI and CPIX YOY % Change CPI CPIX 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t PCE and PCEC YOY % Change PCE PCEC 10Lynwood Successor Agency - Page 16 of 46 Economic and Market Update Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate 12/31/2022 0 2 4 6 8 10 12 14 16 18 20 22 24 Ju l - 1 4 De c - 1 4 M a y - 1 5 Oc t - 1 5 M a r - 1 6 Au g - 1 6 Ja n - 1 7 Ju n - 1 7 No v - 1 7 Ap r - 1 8 Se p - 1 8 Fe b - 1 9 Ju l - 1 9 De c - 1 9 M a y - 2 0 Oc t - 2 0 M a r - 2 1 Au g - 2 1 Ja n - 2 2 Ju n - 2 2 YO Y P e r c e n t Case-Shiller 20 City U.S. Home Price Index YOY % Increase 200 300 400 500 600 700 800 900 1,000 1,100 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Ne w -Th o u s a n d s Ex i s t i n g -M i l l i o n s U.S. New and Existing Home Sales Existing-Left New-Right 11Lynwood Successor Agency - Page 17 of 46 Economic and Market Update Source: U.S. Treasury 12/31/2022 $12 $13 $14 $15 $16 $17 $18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $29 $30 $31 $32 $33 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Tr i l l i o n s U.S. Federal Debt Outstanding 1.3 1.5 1.7 1.9 2.1 2.3 2.5 2.7 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Pe r c e n t U.S. Treasury Interest Bearing Debt Avg Rate 12Lynwood Successor Agency - Page 18 of 46 Economic and Market Update Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg 12/31/2022 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 De c - 2 0 2 2 Ja n - 2 0 2 3 Fe b - 2 0 2 3 M a r - 2 0 2 3 Ap r - 2 0 2 3 M a y - 2 0 2 3 Ju n - 2 0 2 3 Ju l - 2 0 2 3 Au g - 2 0 2 3 Se p - 2 0 2 3 Oc t - 2 0 2 3 No v - 2 0 2 3 De c - 2 0 2 3 Ja n - 2 0 2 4 Fe b - 2 0 2 4 M a r - 2 0 2 4 Ap r - 2 0 2 4 M a y - 2 0 2 4 Ju n - 2 0 2 4 Ju l - 2 0 2 4 Au g - 2 0 2 4 Se p - 2 0 2 4 Oc t - 2 0 2 4 No v - 2 0 2 4 De c - 2 0 2 4 Ja n - 2 0 2 5 Fe b - 2 0 2 5 M a r - 2 0 2 5 Ap r - 2 0 2 5 M a y - 2 0 2 5 Ju n - 2 0 2 5 Ju l - 2 0 2 5 Au g - 2 0 2 5 Se p - 2 0 2 5 Oc t - 2 0 2 5 No v - 2 0 2 5 De c - 2 0 2 5 Ja n - 2 0 2 6 Pe r c e n t Fed Funds FuturesFed's Anticipated Rates Fed Funds Futures 13Lynwood Successor Agency - Page 19 of 46 Economic and Market Update Source: Bloomberg Figures may not total due to rounding 12/31/2022 3Y 4.23 4.29 -0.06 30Y 3.97 3.78 0.19 5Y 4.01 4.09 -0.09 10Y 4.37 3.88 3.83 0.04 Change9/30/2212/30/22 3M Maturity 0.154.284.432Y 0.723.994.711Y 0.833.934.766M 1.103.27 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y Pe r c e n t U.S. Treasury Yield Curve Change 12/30/22 9/30/22 -20 0 20 40 60 80 100 120 3M 6M 1Y 2Y 3Y r 5Y 10 Y 30 Y Ba s i s P o i n t s Basis Point Change 14Lynwood Successor Agency - Page 20 of 46 Economic and Market Update Source: Bloomberg 12/31/2022 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 5.00 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 3M and 1Y 1Y 3M 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 2Y and 5Y 5Y 2Y 15Lynwood Successor Agency - Page 21 of 46 Economic and Market Update Source: Bloomberg 12/31/2022 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Jan - 5 4 Jan - 5 6 Jan - 5 8 Jan - 6 0 Jan - 6 2 Jan - 6 4 Jan - 6 6 Jan - 6 8 Jan - 7 0 Jan - 7 2 Jan - 7 4 Jan - 7 6 Jan - 7 8 Jan - 8 0 Ja n - 8 2 Jan - 8 4 Jan - 8 6 Jan - 8 8 Jan - 9 0 Jan - 9 2 Jan - 9 4 Jan - 9 6 Jan - 9 8 Jan - 0 0 Jan - 0 2 Jan - 0 4 Jan - 0 6 Ja n - 0 8 Jan - 1 0 Jan - 1 2 Jan - 1 4 Jan - 1 6 Jan - 1 8 Jan - 2 0 Jan - 2 2 Pe r c e n t U.S. Treasury Yields 2Yr and 5Yr -Fed Funds Target Rate 5Yr 2Yr Fed Funds 16Lynwood Successor Agency - Page 22 of 46 Economic and Market Update Source: Bloomberg 12/31/2022 Global Treasury Rates 2 Year Yields 5 Year Yields 10 Year Yields 0.03% 1.22% 2.74% 2.77% 2.83% 2.89% 3.24% 3.40% 3.53% 4.05% 4.43% -2.0%0.0%2.0%4.0% Japan Switzlnd Germany Portugal France Spain Italy Australia England Canada USA 0.23% 1.42% 2.57% 2.87% 2.95% 3.14% 3.41% 3.60% 3.68% 4.00% 4.00% -1.0%1.0%3.0%5.0% Japan Switzlnd Germany France Portugal Spain Canada England Australia Italy USA 0.41% 1.58% 2.57% 3.11% 3.30% 3.58% 3.65% 3.66% 3.87% 4.05% 4.70% 0.0%1.0%2.0%3.0%4.0%5.0% Japan Switzlnd Germany France Canada Portugal Spain England USA Australia Italy 17Lynwood Successor Agency - Page 23 of 46 Economic and Market Update ICE BofAML Index (option adjusted spread vs. Treasury)ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB)Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices 12/31/2022 Current Spread is 7 Current Spread is 69 -20 0 20 40 60 80 100 120 140 160 180 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr Agency vs Treasury 0 50 100 150 200 250 300 350 400 450 500 550 600 650 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr A-AAA Corporate vs Treasury 18Lynwood Successor Agency - Page 24 of 46 Economic and Market Update *ICE BofAML Index (option adjusted spread vs. Treasury)*ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1)CMO Agency 0-3Yr PAC (CM1P) Source: ICE BofAML Indices 12/31/2022 Current Spread is 88 Current Spread is 71 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: AAA Asset Backed vs Treasury -150 -100 -50 0 50 100 150 200 250 300 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 0-3Yr Agency CMO vs Treasury 19Lynwood Successor Agency - Page 25 of 46 Economic and Market Update Source: Bloomberg 12/31/2022 -7.0 -1.9 -0.1 0.6 0.7 0.9 1.6 1.9 2.0 2.4 4.3 4.7 4.8 7.4 7.6 8.6 9.0 9.7 10.8 15.8 15.9 17.7 (10) (5) 0 5 10 15 20 Pe r c e n t Selected Sector Quarterly Total Returns 20Lynwood Successor Agency - Page 26 of 46 Economic and Market Update Source: Bloomberg 12/31/2022 -32.6 -31.2 -26.2 -21.9 -21.2 -18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2 -7.0 -5.6 -3.9 -0.6 0.9 9.5 17.5 29.0 (40) (30) (20) (10) 0 10 20 30 40 Pe r c e n t Selected Sector Year-Over-Year Total Returns 21Lynwood Successor Agency - Page 27 of 46 Economic and Market Update Sources: Bloomberg, FHN Main Street 12/31/2022 3.50 3.60 3.70 3.80 3.90 4.00 4.10 4.20 4.30 4.40 4.50 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Pe r c e n t 5 Year Treasury Note Yield Yields Higher After Bank Of Japan Raises Cap On 10-Year Japan Government Bonds Core CPI Up 0.6% Month Over Month Fed Hikes Rates 75bpsUnemployment Rate Dropped To 3.5%, The Lowest Level In Decades Q3 GDP Up 2.6% Powell Says Fed May Slow Down Pace Of Rate Hikes Treasuries Post Biggest Annual Loss Ever, As Inflation Takes Toll CPI YoY Up 7.1% Versus Expected 7.3%, Beating Expectations San Francisco Fed's Daly Says Rate Pause Is Off The Table October CPI 0.4% MoM Core 0.3% 22Lynwood Successor Agency - Page 28 of 46 Economic and Market Update Sources: Bloomberg, FHN Financial, FHN Main Street 12/31/2022 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Dow Jones Industrial Average Sales Forecast By Best Buy Dampens Concerns High Inflation Would Lead To Poor Holiday Shopping Season Upbeat Corporate Earnings And Economic Data Cause Stocks To Rally August Job Openings Fall To 14- Month Low Powell Says Fed Could Slow Down Pace Of Interest Rate Hikes As Early As December University Of Michigan Inflation Expectations Rise For First Time In Seven Months Lower Than Expected October CPI Raises Hopes For Slower Tightening Apple Gains On Earnings Help Push Stocks Higher Smaller Than Expected Increase In CPI Lifts Investor Confidence Pace Of Rate Hikes Expected To Slow 23Lynwood Successor Agency - Page 29 of 46 Disclosure This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product. Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, a nd it may be incomplete or condensed. This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumpt ions may have a material effect on projected results. Ratings on all securities are subject to change. FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. 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NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COM PLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24Lynwood Successor Agency - Page 30 of 46 1 MONTHLY ECONOMIC REVIEW DECEMBER 2022 NATIONAL RETAIL FEDERATION After two straight quarters of year-over-year decline, the third quarter’s 2.6% annualized growth in gross domestic product was a solid improvement and much better than expected. The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates. Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction. GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation. Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021. Many eyes have focused on October’s inflation data, and a range of measures was better than expected. The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding. While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend. Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000. Lynwood Successor Agency - Page 31 of 46 2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals. As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure. Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer. So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier. CONFERENCE BOARD GLOBAL ECONOMIC REPORT Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world. The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and 2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth. Europe Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the Lynwood Successor Agency - Page 32 of 46 3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession. After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth. China The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth. After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024. Emerging Markets Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine). Lynwood Successor Agency - Page 33 of 46 A genda I tem # 5. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Harry Wong, D irector of F inance & A dministration S U B J E C T: A D OP TION OF THE RE C O GNIZE D OB L IG ATION PAYME NT S C HE D UL E F O R THE P E RIO D OF J ULY 1, 2023 TO J UNE 30, 2024 (RO P S 23-24) A ND A D OP TIO N O F THE A D M INIS TRATIV E B UD GE T Recommendation: S taff recommends that the C ity C ouncil, as S uccessor to the Lynwood Redevelopment A gency, adopt the attached resolution entitled: “A RE S OL UTION OF THE C ITY C O UNC IL OF THE C ITY OF LYNW O OD , C O UNTY O F L O S A NG E L E S , S TATE OF C A L IF ORNIA , A S S U C C E S S OR TO THE LYNW O OD R E D E V E L O P M E NT A GE NC Y A P P RO V ING THE RE C OGNIZE D O B L IGATIO N PAYME N T S C HE D UL E C O V E RING THE P E RIO D O F J U LY 1, 2023 TO J UNE 30, 2024 A ND A D OP TING THE A D M INIS TRATIV E B U D G E T”. Background: On J une 27, 2012, the S tate L egislature passed A B 1484, the redevelopment budget trailer bill. The primary purpose of A B 1484 is to make technical and substantive amendments to A B x1 26. A B 1484 contains signi fi cant new requirements and harsh financial penalties on the S uccessor A gency and the C ity if certai n provisions under A B 1484 are not carried out. P er S ecti on 34177(m) of the Health and S afety C ode, the Recognized Obli gati on P ayment S chedule (RO P S ) must be submitted by the S uccessor A gency, after approval by the oversight board, to the S tate D epartment of F i nance (D O F ), S tate C ontroller, C ounty A dministrative Officer, and the C ounty A udi tor- C ontroller (C A C ) no later than 90 days before the date of property tax distribution. On S eptember 22, 2015, the Governor approved S enate B ill No. 107 (S B 107). S B 107 makes several changes to the Redevelopment A gency (RD A ) dissolution process. One of the key changes was changing the ROP S to an annual submittal. P ursuant to S ection 34177(o)(1) of the Health and S afety C ode, commenci ng wi th the R OP S covering the period from J uly 1, 2016 to J une 30, 2017, i nclusive, and for each peri od from J uly 1 to J une 30, inclusive thereafter, a S uccessor A gency shall submit an Oversight B oard approved RO P S to the D epartment of F inance and to the C ounty A uditor-C ontroller no later than F ebruary 1st of each year. Discussion and Analysis: Lynwood Successor Agency - Page 34 of 46 R OP S To facilitate the payment of “enforceable obligations” a S uccessor A gency i s required to prepare a RO P S . The general rule under A B x1 26 and A B 1484 is that S uccessor A genci es can only make payments on enforceable obligations listed in the ROP S by the funds i dentified in the ROP S . S B 107 expanded types of enforceable obligations that may be included in the R OP S . E nforceable obligations include, but are not limited to, the followi ng items: 1. B onds; 2. L oans or moneys borrowed by the redevelopment agency for lawful purpose; 3. P ayments required by the federal government, preexi sti ng obligations to the S tate, or obli gations i mposed by state law, payments that are made by the county-auditor controller, or legal enforceable payments requi red in connection with the agencies’ employees 4. Judgments or settlements entered by a court or bindi ng arbi trati on; 5. A greement or C ontract entered into prior to June 28, 2011 with a third party; 6. C ontracts or agreements necessary for the administrati on or operation of the S uccessor A gency; 7. A mounts borrowed from or payment owing to the L ow and Moderate Income Housing F und (L M IHF ); 8. A greement between a city that created the former redevelopment agency and the former redevelopment agency; and 9. L oan from the C ity to the S uccessor A gency for administrative costs, enforceable obligations, or project- related expenses at the city’s discreti on only to the extent that the S uccessor A gency receives an insuffi ci ent distributi on of Redevelopment P roperty Tax Trust F und (RP TTF ) or other approved sources are insuffi ci ent to pay approved enforceable obligations. S uch loans placed on the ROP S reduces the A dministrative C ost A llowance gi ven to the S uccessor A gency. Under S B 107, contracts or agreements between the C ity, C ounty, or C ity and C ounty that created the Redevelopment A gency can now be included. Repayments of C ity and former A gency loans will only be granted once the S uccessor A gency receives a F inding of C ompleti on (F OC ) from the D OF. On D ecember 16, 2015, the D O F notified the C ity that the F OC had been granted. Administrative B udget P ursuant to 34177(j), a S uccessor A gency is required to prepare a proposed admi ni strati ve budget and submi t it to the Oversight B oard for its approval. S B 107 limits the S uccessor A gency’s administrative cost allowance to an amount not to exceed 3% of the actual property tax distributed to the S uccessor A gency for payment of enforceable obligations, reduced by the S uccessor A gency’s administrati ve cost allowance and loan payments made to the C ity that created the Redevelopment A gency and limit a S uccessor A gency’s annual administrative costs to an amount not to exceed 50% of the total RP TTF di stributed to pay enforceable obligations. Fiscal Impact: If a S uccessor A gency does not submit a RO P S by the deadli ne, the C ity that created the Redevelopment A gency shall be subject to a civil penalty equal to $10,000 per day for every day the schedule is not submitted to the D OF. A dditionally, if an A gency does not submit a ROP S within 10 days of the deadline, the maximum administrati ve cost allowance for that period will be reduced by 25%. It is anticipated that the RO P S will be the basis of the distribution of tax increment by the C ounty A udi tor- C ontroller. Not receiving funding will jeopardize the Lynwood S uccessor A gency’s ability to make “enforceable obligation” payments such as the bond debt service payments. Coordinated With: E xecutive D i rector's Office A gency C ounsel C ommunity D evelopment Lynwood Successor Agency - Page 35 of 46 AT TAC H ME N T S: Description Reso_R OP S P ayment Schedule for 23-24 and Admin Budget Lynwood Draft R OPS 23-24 Lynwood Successor Agency - Page 36 of 46 SUCCESSOR AGENCY RESOLUTION NO. __________ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS SUCCESSOR TO THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE COVERING THE PERIOD OF JULY 1, 2023 TO JUNE 30, 2024 AND ADOPTING THE ADMINISTRATIVE BUDGET WHEREAS, pursuant to Section 34177(o)(1) of the Health and Safety Code, commencing with the Recognized Obligation Payment Schedule (ROPS) covering the period from July 1, 2016, to June 30, 2017, inclusive, and for each period from July 1 to June 30, inclusive, thereafter, a Successor Agency shall submit an Oversight B oard- approved ROPS to the Department of Finance and to the County Auditor-Controller no later than February 1, 2016, and each February 1 thereafter; and WHEREAS, pursuant to Section 34177(a)(3) of the Health and Safety Code, only those payments listed on the ROPS may be made by the Successor Agency from the funds specified in the ROPS; and WHEREAS, pursuant to Section 34177 (m)(1)(B) of the Health and Safety Code, if the Successor Agency fails to submit a ROPS by the deadline , then the City is subject to a civil penalty of $10,000 per day for every day the schedule is not submitted ; and, in addition, if the Successor Agency fails to submit a ROPS within 10 days of the deadline the maximum administrative cost allowance for that period will be reduced by 25%; and WHEREAS, the pursuant to 34177(j) of the Health and Safety Code, a Successor Agency is required to prepare a proposed Administrative Budget and submit it to the Oversight Board for approval. NOW, THEREFORE, THE SUCCESSOR AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Approval to adopt the ROPS 23-24. The Lynwood Successor Agency hereby authorizes staff to prepare the ROPS 23-24 covering the period of July 1, 2023 to June 30, 2024, approves the ROPS 23-24 in the form attached hereto as Exhibit A, and to submit the completed ROPS 23-24 to the Oversight Board. Section 3. Authorization to Make Changes. To avoid any civil penalty that may be imposed, the Lynwood Successor Agency authorizes the City Manager or designee to make changes as necessary to the ROPS 23-24 before it is adopted by the Oversight Board; and, after the ROPS 23-24 is adopted by the Oversight Board, to reflect any changes made by the Oversight Board and to make any changes to the ROPS 23-24 thereafter, as necessary. Lynwood Successor Agency - Page 37 of 46 2 Section 4. Posting; Transmittal to Appropriate Agencies. The City Manager or designee is authorized and directed to post a copy of the ROPS 23-24 on the City’s website. The City Manager or designee is further authorized and directed to transmit , by mail or electronic means, to the County Auditor -Controller, County Chief Administrative Officer, the State Controller, and the State Department of Finance a copy of the ROPS 23-24; and to respond to questions and request for documents and information from the County and State agencies relating to the ROPS. Section 5. Approval to adopt the Administrative Budget. The Lynwood Successor Agency adopts the Administrative Budget as included in the ROPS 23-24. The City Manager or designee is authorized to submit the Administrative Budget to the Oversight Board for approval. The City Manager or designee is authorized to make changes to the Administrative Budget as necessary. Section 6. This resolution shall be effective immediately upon its adoption. Section 7. The City Clerk shall certify to the adoption of this resolution and hereafter the same shall be in full force and effect. PASSED, APPROVED AND ADOPTED at a regular meeting of the Successor Agency of the City of Lynwood, this 17th day of January, 2023. ________________________________ Oscar Flores Mayor ATTEST: _______________________________ ________________________________ Maria Quinonez Ernie Hernandez City Clerk City Manager APPROVED AS TO FORM: APPROVED AS TO CONTENT: _______________________________ ________________________________ Noel Tapia Harry Wong City Attorney Director of Finance & Administration Lynwood Successor Agency - Page 38 of 46 Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Lynwood County: Los Angeles Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 23-24A Total (July - December) 23-24B Total (January - June) ROPS 23-24 Total A Enforceable Obligations Funded as Follows (B+C+D) $ - $ - $ - B Bond Proceeds - - - C Reserve Balance - - - D Other Funds - - - E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 2,465,466 $ 569,177 $ 3,034,643 F RPTTF 2,340,466 444,177 2,784,643 G Administrative RPTTF 125,000 125,000 250,000 H Current Period Enforceable Obligations (A+E) $ 2,465,466 $ 569,177 $ 3,034,643 Certification of Oversight Board Chairman: Name Title Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Signature Date Lynwood Successor Agency - Page 39 of 46 Lynwood Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF $17,583,931 $3,034,643 $- $- $- $2,340,466 $125,000 $2,465,466 $- $- $- $444,177 $125,000 $569,177 6 2011 Tax Allocation Bonds Series A Bonds Issued After 12/31/10 03/07/ 2011 03/01/2038 US Bank Corp Bond issue to fund non housing projects Project Area A - N $- - - - - - $- - - - - - $- 7 2011 Tax Allocation Bonds Series A Reserves 03/07/ 2011 03/01/2038 US Bank Corp H&S34171(d)(1)(A) To hold reserve for future Debt Service payment due to uneven semi- annual debt service payment. Project Area A - N $- - - - - - $- - - - - - $- 8 2011 Tax Allocation Bonds Series B Bonds Issued After 12/31/10 03/07/ 2011 03/01/2038 US Bank Corp Bond issue to fund housing projects Project Area A - N $- - - - - - $- - - - - - $- 11 1999 City and Agency Cooperation Agreement (#7) City/County Loan (Prior 06/28/11), Cash exchange 09/07/ 1999 09/30/2019 City of Lynwood Loan to carry out 3100 E. Imperial Hwy project (34167(d)(2) H&S) Project Area A 338,836 N $- - - - - - $- - - - - - $- 15 Agreement - The Gardens OPA/DDA/ Construction 02/23/ 2009 02/23/2064 Atlantic Gardens formerly Cedars Engineering Annual Rental Subsidy (The Gardens). Rental apartment housing to qualified seniors. Low and Very Low Income. Project Area A & Alameda 920,400 N $23,010 - - - - - $- - - - 23,010 - $23,010 20 Notice of Entry of Judgment - Rogel v LRA (Case No. BS106592) SEE NOTES FOR SUPPLEMENT Litigation 03/23/ 2009 06/30/2015 Housing Authority: LMIHAF Re. Notice of Ruling Re. Order March 23, 2009 and Notice of Entry of Judgment April 23, 2013 . Taking into account units already constructed, 65 units remain to be produced by March 31, 2015. 51 units must be restricted to very low income. Project Area A & Alameda - N $- - - - - - $- - - - - - $- 22 Order Awarding Plaintiffs Litigation 03/23/ 2009 06/30/2015 Counsels for Plaintiffs (Public Order Awarding Plaintiffs Attorneys' Fees and Costs. Project Area A & Alameda 1,322,411 N $206,968 - - - 103,484 - $103,484 - - - 103,484 - $103,484 Lynwood Successor Agency - Page 40 of 46 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Attorneys' Fees and Costs.(Case No. BS106592) SEE NOTES FOR SUPPLEMENT Counsel Law Center) 23 Notice of Entry of Judgment - Rogel v LRA (Case No. BS106592) SEE NOTES FOR SUPPLEMENT Litigation 03/23/ 2009 06/30/2015 Consultant to serve as "Administrator" Re. Notice of Ruling Re. Order March 23, 2009 and Notice of Entry of Judgment April 23, 2013 . Court Ruling requires hiring of "Administrator." Project Area A & Alameda 150,000 N $150,000 - - - 75,000 - $75,000 - - - 75,000 - $75,000 60 Administrative Cost Allowance Admin Costs 07/01/ 2016 06/30/2018 Various staffing cost, vendors, City of Lynwood, & misc. expenses. County Auditor Controller did not allocate an administrative cost allowance in the 2nd ROPS because the DOF approved RPTTF exceeds actual tax increment distribution. H & S 34171 (b) limits administrative expenses to 3% for 2012-13 per DOF Project Area A and Alameda 250,000 N $250,000 - - - - 125,000 $125,000 - - - - 125,000 $125,000 76 Property Disposition of Successor Agency properties Property Dispositions 07/01/ 2016 06/30/2018 Various Vendors, Agency Counsel , misc. cost and staffing cost Preparation of Successor Agency property for disposal including maintenance, fencing, listing, posting etc. Project Area A & Alameda - N $- - - - - - $- - - - - - $- 86 2011 Tax Allocation Bonds Series B Bonds Issued After 12/31/10 03/07/ 2011 03/01/3038 US Bank Corp H&S34171(d)(1)(A) To hold reserve for Debt Service payment due to uneven semi- annual debt service payment. Assist in the debt service coverage ratio for continuing disclosure. Project Area A & Alaemda - N $- - - - - - $- - - - - - $- 87 Difference RPTTF 01/01/06/30/2017 Various Per DOF direction Project 427,269 N $427,269 - - - 427,269 - $427,269 - - - - - $- Lynwood Successor Agency - Page 41 of 46 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF between approved actual RPTTF funding received and DOF approved enforceable obligations Shortfall 2016 vendors, staffing cost, legal costs, and others to list difference between approved enforceable obligations and actual RPTTF Area A and Alameda 92 Tax Allocation Revenue Refunding Bonds (Project Area A), Series 2013 A Revenue Bonds Issued After 12/31/10 12/24/ 2013 09/01/2028 US Bank Corp Refunding of 1999 Tax Allocation Bonds Project Area A. Tax Allocation Revenue Refunding Bonds (Project Area A), Series 2013 A Project Area A - N $- - - - - - $- - - - - - $- 93 Tax Allocation Revenue Refunding Bonds (Project Area A), Series 2013 A -Reserve Reserves 12/24/ 2013 09/01/2028 US Bank Corp H&S34171(d)(1)(A) To hold reserve for Debt Service payment due to uneven semi- annual debt service payment. Assist in the debt service coverage ratio for continuing disclosure. Project Area A - N $- - - - - - $- - - - - - $- 94 Alameda Project Area Tax Allocation Refunding Bonds, Series 2013A Revenue Bonds Issued After 12/31/10 12/24/ 2013 09/01/2024 US Bank Corp Refunding of 1999 Tax Allocation Alameda bonds. Alameda Project Area Tax Allocation Refunding Bonds, Series 2013A Alameda - N $- - - - - - $- - - - - - $- 95 Alameda Project Area Tax Allocation Refunding Bond, Series 2013A- Reserve Revenue Bonds Issued After 12/31/10 12/24/ 2013 09/01/2024 US Bank Corp H&S34171(d)(1)(A) To hold reserve for Debt Service payment due to uneven semi- annual debt service payment. Assist in the debt service coverage ratio for continuing disclosure. Alameda - N $- - - - - - $- - - - - - $- 101 2010 Promissory Note City/County Loan (Prior 06/28/11), Cash exchange 05/04/ 2010 06/30/2014 City of Lynwood 2010 Promissory Note between the City and former Lynwood Redevelopment Project Area A 1,214,903 N $- - - - - - $- - - - - - $- Lynwood Successor Agency - Page 42 of 46 A B C D E F G H I J K L M N O P Q R S T U V W Item # Project Name Obligation Type Agreement Execution Date Agreement Termination Date Payee Description Project Area Total Outstanding Obligation Retired ROPS 23-24 Total ROPS 23-24A (Jul - Dec) 23-24A Total ROPS 23-24B (Jan - Jun) 23-24B Total Fund Sources Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Agency 102 2022 Tax Allocation Refunding Bonds Revenue Bonds Issued After 12/31/10 10/27/ 2022 09/01/2031 US Bank Corp Refunding of Tax Allocation Bonds (Project Area A), 2011 Series A; Taxable Tax Allocation Bonds (Housing Projects), 2011 Series B; Tax Allocation Revenue Refunding Bonds (Project Area A), Series 2013A; Tax Allocation Revenue Refunding Bonds (Alameda Project Area), Series 2013A Project Area A and Alamaded 12,960,112 N $1,977,396 - - - 1,734,713 - $1,734,713 - - - 242,683 - $242,683 Lynwood Successor Agency - Page 43 of 46 Lynwood Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. A B C D E F G H ROPS 20-21 Cash Balances (07/01/20 - 06/30/21) Fund Sources Comments Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, grants, interest, etc. Non-Admin and Admin 1 Beginning Available Cash Balance (Actual 07/01/20) RPTTF amount should exclude "A" period distribution amount. - 2 Revenue/Income (Actual 06/30/21) RPTTF amount should tie to the ROPS 20-21 total distribution from the County Auditor-Controller 5,311,908 2G: Amount includes received Agency RPTTF and County held funds for Bond payments; $4,358,510 for Period A; $953,398 for Period B. 3 Expenditures for ROPS 20-21 Enforceable Obligations (Actual 06/30/21) 8,598,243 3G: Includes total SA expenditures and tax increment withheld by County for bond payments: $2,594,628 withheld; $6,003,615 SA expenditures. 4 Retention of Available Cash Balance (Actual 06/30/21) RPTTF amount retained should only include the amounts distributed as reserve for future period(s) 5 ROPS 20-21 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 20-21 PPA form submitted to the CAC No entry required 183,797 G5: Taken from PPA submitted on 9.29.2022. 6 Ending Actual Available Cash Balance (06/30/21) $- $- $- $- $(3,470,132) Lynwood Successor Agency - Page 44 of 46 Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. A B C D E F G H ROPS 20-21 Cash Balances (07/01/20 - 06/30/21) Fund Sources Comments Bond Proceeds Reserve Balance Other Funds RPTTF Bonds issued on or before 12/31/10 Bonds issued on or after 01/01/11 Prior ROPS RPTTF and Reserve Balances retained for future period(s) Rent, grants, interest, etc. Non-Admin and Admin C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5) Lynwood Successor Agency - Page 45 of 46 Lynwood Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024 Item # Notes/Comments 6 7 8 11 15 20 22 23 60 76 86 87 92 93 94 95 101 102 Lynwood Successor Agency - Page 46 of 46 This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200. Procedures for Addressing the Council IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO CITYCLERK@LYNWOOD.CA.US OR FILL OUT A FORM PROVIDED AT THE PODIUM, AND TO TURN IT IN TO THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS CONSENT OF THE COUNCIL. AGE N D A Lynwood Housing Authority TO BE HE L D ON January 17, 2023 C OU N C IL C H AMB ER S - 11350 B U L L IS R D. LYN WOOD , C A 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238 Duly Posted on 1/12/2023 B y MQ 6:00 P M 1.C ALL TO OR D ER 2.C E R T IF IC ATION OF AGE N D A P OS T IN G B Y S E C R E TARY 3.R OL L C AL L OF ME MB E R S Oscar F lores, C hair Ri ta S oto, Vice C hair Gabri ela C amacho, C ommissioner J uan Munoz-Guevara, C ommissioner J ose L uis S olache, C ommissioner P U B L IC OR AL C OMMU N IC AT ION S (Regarding Agenda Items Only) N ON-AGE N D A P U B LIC OR AL C OMMU N IC AT ION S THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD HOUSING AUTHORITY ON ITEMS WITHIN THE JURISDICTION OF THE LYNWOOD HOUSING AUTHORITY AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION OF THE ISSUE BY LYNWOOD HOUSING AUTHORITY, BUT LYNWOOD HOUSING AUTHORITY MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54954.2 (a).) Lynwood Housing Authority - Page 1 of 7 C ON SEN T C AL E N D AR ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION. 4.A P P RO VA L O F THE WA RRA NT R E GIS TE R-L HA Comments: C ity of Lynwood Housi ng A uthority warrant register dated J anuary 17, 2023 for F Y 2022-2023. (F IN) Recommendation: S taff respectfully recommends that the Lynwood Housing A uthority approve the warrant register dated J anuary 17, 2023 for F Y 2022-2023. AD J OU R N ME N T THE LYNW OO D HOUS ING A UTHO R ITY M E E TINGS W IL L B E P O S TE D A S NE E D E D . THE NE X T M E E TING W IL L B E H E L D IN THE C O UNC IL C HA MB E R S OF THE C ITY HA L L A NNE X , 11350 B UL L IS RO A D , C ITY OF LYN W OO D , C A L IF O RNIA . Lynwood Housing Authority - Page 2 of 7 A genda I tem # 4. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable Mayor and Members of the C i ty C ouncil AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: Harry Wong, D irector of F inance & A dministration L illy Hampton, S enior A ccounting Technician S U B J E C T: A P P ROVA L OF TH E WA RRA NT RE GIS TE R-L HA Recommendation: S taff respectfully recommends that the Lynwood Housing A uthority approve the warrant register dated J anuary 17, 2023 for F Y 2022-2023. Background: N/A Discussion and Analysis: N/A Fiscal Impact: F Y 2022-2023 Coordinated With: C ity Manager C ity A ttorney AT TAC H ME N T S: Description WAR R AN T R U N 01 17 2023-L H R E S OL U T ION ITEM Lynwood Housing Authority - Page 3 of 7 vchlist 01/11/2023 Bank code : Voucher 10295 10296 10297 5:31:29PM lhaus2 Date Vendor 1/17/2023 007223 COX, CASTLE & NICHOLSON LLP 1/17/2023 003547 KANE, BALLMER & BERKMAN 1/17/2023 012487 KEALOHA CORP . 3 Vouchers for bank code : lhaus2 Check List Lynwood Housing Authority Invoice PO# 559362 11 -002202 27648 11-002203 1030 11-002165 Page: 1 Description/Account Amount LEGAL SERVICES 198.95 Total: 198.95 LEGAL SERVICES 350.00 Total: 350.00 PROF & CONTRACTUAL SERVICE 1,800.00 Total: 1,800.00 Bank total: 2,348.95 Page: 1 Lynwood Housing Authority - Page 4 of 7 vchlist 01/11/2023 Bank code : Voucher 5526 Check List 5:31:29PM Successor Agency of the Lynwood Redevelopment Agency sa usb Date Vendor Invoice PO# 1/17/2023 003612 US BANK CORP. TRUST 6769403 6769407 1 Vouchers for bank code : 1 Vouchers in this report sa_usb Page: 2 Description/Account Amount ADMINISTRATION FEE 2013A 500 .00 ADMINISTRATION FEE 2013A 500.00 Total: 1,000.00 Bank total: 1,000.00 Total vouchers : 1,000.00 Page : 2 Lynwood Housing Authority - Page 5 of 7 1 RESOLUTION NO. 2022.XXX LHA - Warrant Register Dated 01-17-2023 PASSED, APPROVED and ADOPTED this 17th day of January, 2023. Oscar Flores, Chair ATTEST: _________________________ Maria Quiňonez, Ernie Hernandez, Secretary Executive Director APPROVED AS TO FORM: Noel Tapia, Authority Counsel Lynwood Housing Authority - Page 6 of 7 2 STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, Maria Quiňonez, the undersigned, City Clerk of the City of Lynwood/Secretary to the Lynwood Housing Authority, do hereby certify that the foregoing Resolution was passed and adopted by the Lynwood Housing Authority of the City of Lynwood at a regular meeting held on the _17th day of January, 2023, and passed by the following vote: AYES: COMMISSIONERS MUNOZ, SOLACHE, VICE CHAIR SOTO AND CHAIR FLORES NOES: NONE ABSENT: NONE ABSTAIN: NONE __________________________ Maria Quiňonez, Secretary STATE OF CALIFORNIA ) ) § COUNTY OF LOS ANGELES ) I, Maria Quiňonez, the undersigned, City Clerk of the City of Lynwood/Secretary to the Lynwood Housing Authority, do hereby certify that the above foregoing is a full, true and correct copy of Lynwood Housing Authority Resolution No. 2022.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this __17h day of January 2023. ____________________________ Maria Quiňonez, Secretary Lynwood Housing Authority - Page 7 of 7 This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200. Procedures for Addressing the Council IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO CITYCLERK@LYNWOOD.CA.US OR FILL OUT A FORM PROVIDED AT THE PODIUM, AND TO TURN IT IN TO THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS CONSENT OF THE COUNCIL. AGE N D A Ly nwood Public Financing Authority TO BE HE L D ON January 17, 2023 C OU N C IL C H AMB ER S - 11350 B U L L IS R D. LYN WOOD , C A 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238 Duly Posted on 1/12/2023 B y MQ 6:00 P M 1.C ALL TO OR D ER 2.C E R T IF IC ATION OF AGE N D A P OS T IN G B Y S E C R E TARY 3.R OL L C AL L OF ME MB E R S Oscar F lores, P resident Ri ta S oto, Vice P resident Gabri ela C amacho, Member J uan Munoz-Guevara, Member J ose L uis S olache, Member 4.GOV E R N ME N T C OD E S E C T ION 54954.3 Members of the City Council are also members of Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an Additional Stipend of $100 for Attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) timer per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four(4) meetings. P U B L IC H EAR IN G C ON SEN T C AL E N D AR ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION Lynwood Public Financing Authority - Page 1 of 33 AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION. 5.T R E AS U R E R'S MON T H LY IN V E S T ME N T R E P OR T Comments: The purpose of this item is to have the Honorable P resident and Members of the P ublic F inance A uthori ty review the Treasurer’s Monthly Investment Report as required by S tate S tatutes. (C T) Recommendation: The following is the Investment Report for the month ending D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is informed of the D epartment’s investment activities. The report satisfies the recommended reporting requi rements of the C ity of Lynwood, which addresses the C ity C ouncil’s request for monthly financial information. It is recommended that the C ity C ouncil for the C ity of Lynwood receive and file the attac hed Monthly Investment R eport. N E W/OLD B U S IN E S S AD J OU R N ME N T THE LYNW OO D P UB L IC F IN A N C E A UTHO RITY M E E TINGS W IL L B E P OS TE D A S NE E D E D . THE NE X T M E E TING W IL L B E HE L D IN THE C OUNC IL C H A M B E R S OF C ITY HA L L A NNE X , 11350 B UL L IS R OA D , C ITY OF LYNW OO D , C A L IF ORNIA . Lynwood Public Financing Authority - Page 2 of 33 A genda I tem # 5. AGENDA STAF F REPORT D AT E: J anuary 17, 2023 TO: Honorable P resident and Members of the P ublic F inance A uthority AP P R OV E D B Y: E rnie Hernandez, C ity Manager P R E PAR E D B Y: S heila Harding, D eputy C ity Treasurer S U B J E C T: TRE A S URE R'S M O N TH LY INV E S TME NT RE P ORT Recommendation: The following is the Investment Report for the month endi ng D ecember 31, 2022. This report is provi ded to ensure C ity C ouncil is i nformed of the D epartment’s investment activi ti es. The report satisfies the recommended reporting requirements of the C i ty of Lynwood, which addresses the C ity C ouncil’s request for monthly fi nancial information. It is recom mended that the C ity C ouncil for the C ity of Lynwood rec eive and file the attached Monthly Investment R eport. Background: Government C ode S ection 53607, last amended 1996, with reference to the reporting of investment transacti ons states that the Treasurer shall make a monthly report of those transacti on to the legislative body. Government C ode S ection 53646 (b) (1), last amended 2004, with reference to discussion related to establishment of an Investment P olicy and i nvestment reporting states that “the Treasurer may render a quarterly report”. To determi ne the applicable code inasmuch as reference to Government C ode S ection 53607 or non-compli ance thereof has never been included i n past audit findings. While Government C ode S ection 53646 (b) (1) which is the most current version related to Investment Reporting utilizes the word “may” indicating the reporting mechanism is optional, to err on the side of caution, and in order to ensure that we are in compliance with all Government C odes, a new procedure of submitting monthly reports to the C ouncil/A gency agenda was implemented. A ttached for C ouncil/A gency revi ew is the C ity’s/A gency’s Monthly Treasurer ’s Report. Discussion and Analysis: The investment transactions were executed i n accordance with the C ity's Investment P olicy and the C ali forni a S tate Government C ode S ection 5346(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months. Lynwood Public Financing Authority - Page 3 of 33 Agenda Item # 2 Fiscal Impact: The action recommended in this report will not have a fiscal impact on the C ity. Coordinated With: F HN F inanci al Main S treet A dvisors currently monitors the C ity’s i nvestment activities. AT TAC H ME N T S: Description AC TIV IT Y & S U MMARY R E P OR T - D E C E MB E R 2022 F H N E C ON OMIC R EPOR T - D E C E MB E R 2022 N R F & C ON F E R EN C E B OAR D GL OB AL - D E C E MB E R 2022 Lynwood Public Financing Authority - Page 4 of 33 Agenda Item # 2 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 1 The following is the City’s cash flow and the monthly investment report. The monthly report includes a summary of the City’s investment portfolio, a monthly review of the investment market as prepared by the investment managers and detailed information on monthly transactions, cash flows and investments by issuer. FHN Investment Advisors manage the portion of investments not invested by LAIF (State Local Agency Investment Fund). The tables below provide key statistics regarding the City’s cash flow and investment portfolio as of December 31, 2022. Type Balances Held Cash - US Bank $48,689,265.10 Cash - JPMorgan Chase Bank $8,056,091.92 Local Agency Investment Fund $9,595,678.13 FHN Investment Advisors/BNY 25,744,440 .91 TOTAL $66,341,035.15 FHN ACCOUNT SUMMARY 31-Dec 30- Nov Market Value $35,344,239 $35,314,063 Book Value $36,481,176 $36,466,189 Variance (1,136,936) ($1,152,126) Par Value $36,500,250 $36,492,754 Net Asset Value $96.88 $96.84 Book Yield 2.38% 2.35% Market Yield 3.95% 3.88% Years to Maturity 1.69 1.75 Effective Duration 1.45 1.45 FHN INVESTMENT COMPLIANCE % % Company Book Value of Portfolio Allowed by Policy US Treasuries 6,499,374.86 17.82% 100% US Federal Agencies 10,450,169.07 28.65% 100% Supranational Obligations $0.00 0% 30% LAIF 9,595,678.13 26.30% 75% Commercial Paper 1,478,968.63 4.05% 25% Money Market Funds 52,571.67 0.14% 20% Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% Lynwood Public Financing Authority - Page 5 of 33 Agenda Item # 2 ACTIVITY & PERFORMANCE SUMMARY DECEMBER 2022 2 Corporate Obligations 3,488,790.30 9.56% 30% State and Local Governments $0.00 0% 100% Total 36,481,175.57 100.00% All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 2022. The City’s investments comply with its current investment policy, which emphasizes the safety, liquidity, and return of its investments, allowing the city to meet its expenditures for the next six months. PURCHASES & MATURITIES No Purchases or Redemptions for the month of December 2022. FHN INCOME EARNED SUMMARY December Month End Fiscal Year to Date INTEREST Interest Received/Purchased. 7,495.34 191,919.53 Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85 Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00 Total Earnings During Period 55,715.04 307,834.28 Lynwood Public Financing Authority - Page 6 of 33 Agenda Item # 2 Quarterly Economic and Market Update December 2022 Lynwood Public Financing Authority - Page 7 of 33 Agenda Item # 2 Economic and Market Update *Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY*8.6%16.0%(7.4%) Consumer Confidence 108.3 103.2 5.1 Gold (per ounce)$1,824.02 $1,660.61 $163.41 Dollar Index 103.52 112.12 (8.60) U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59) Retail Sales YOY*8.7%8.4%0.3% S&P 500 3,840 3,586 7.1% Consumer Price Index YOY*7.6%8.2%(0.6%) 1-5 Yr A-AAA Corporate Spread 0.69%0.81%(0.12%) Dow Jones 33,147 28,726 15.4% 30 Year Mortgage Rate 6.66%5.83%0.83% 1-5 Yr Agency Spread 0.07%0.03%0.04% 10 Year T-Note 3.88%3.83%0.04% U.S. Fed Debt Avg Yield*2.30%1.99%0.31% 3 Year T-Note 4.23%4.29%(0.06%) 5 Year T-Note 4.01%4.09%(0.09%) 2 Year T-Note 4.43%4.28%0.15% 3 Month T-Bill 4.37%3.27%1.10% Labor Force Participation 62.3%62.3%0.0% Effective Fed Funds Rate 4.33%3.08%1.25% U.S. Payrolls Monthly Change 223,000 269,000 (46,000) Unemployment Rate 3.5%3.5%0.0% 12/31/2022 Item 12/31/2022 9/30/2022 Change 2Lynwood Public Financing Authority - Page 8 of 33 Agenda Item # 2 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 12/31/2022 -1.4 5.2 4.7 1.8 3.3 2.3 1.3 0.6 2.4 1.2 2.4 2.0 1.7 2.0 3.4 4.1 2.8 2.8 2.9 0.7 2.2 2.7 3.6 1.8 -4.6 -29 . 9 35 . 3 3.9 6.3 7.0 2.7 7.0 -1.6 -0.6 3.2 1.1 0.0 -0.6 0.0 -45 -35 -25 -15 -5 5 15 25 35 45 Q1 2 0 1 4 Q2 2 0 1 4 Q3 2 0 1 4 Q4 2 0 1 4 Q1 2 0 1 5 Q2 2 0 1 5 Q3 2 0 1 5 Q4 2 0 1 5 Q1 2 0 1 6 Q2 2 0 1 6 Q3 2 0 1 6 Q4 2 0 1 6 Q1 2 0 1 7 Q2 2 0 1 7 Q3 2 0 1 7 Q4 2 0 1 7 Q1 2 0 1 8 Q2 2 0 1 8 Q3 2 0 1 8 Q4 2 0 1 8 Q1 2 0 1 9 Q2 2 0 1 9 Q3 2 0 1 9 Q4 2 0 1 9 Q1 2 0 2 0 Q2 2 0 2 0 Q3 2 0 2 0 Q4 2 0 2 0 Q1 2 0 2 1 Q2 2 0 2 1 Q3 2 0 2 1 Q4 2 0 2 1 Q1 2 0 2 2 Q2 2 0 2 2 Q3 2 0 2 2 Q4 2 0 2 2 Q1 2 0 2 3 Q2 2 0 2 3 Q3 2 0 2 3 Pe r c e n t U.S. GDP (Quarter over Quarter Annualized)* Estimates 3Lynwood Public Financing Authority - Page 9 of 33 Agenda Item # 2 Economic and Market Update * Real Rate (Inflation Adjusted) Source: Bureau of Economic Analysis 12/31/2022 Estimate: Bloomberg's Survey of Economists As of: 12/31/2022 8.7 8.0 4.1 4.7 -0.6 7.1 2.1 2.1 -0.7 6.9 2.6 2.6 6.1 4.4 5.8 6.5 6.6 2.7 4.9 3.1 0.2 3.3 5.3 5.6 -0.5 -0.2 5.4 4.6 5.5 3.2 -0.3 2.5 -1.8 4.6 7.2 4.2 3.5 3.5 4.2 3.7 1.9 -0.1 3.5 2.8 4.0 2.7 3.8 4.4 4.5 4.8 4.1 1.0 1.7 2.8 3.9 3.5 2.8 2.0 0.1 -2.6 2.7 1.5 2.3 1.8 2.3 2.7 1.7 2.2 2.9 2.3 -2.8 5.9 1.9 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10 19 5 0 19 5 2 19 5 4 19 5 6 19 5 8 19 6 0 19 6 2 19 6 4 19 6 6 19 6 8 19 7 0 19 7 2 19 7 4 19 7 6 19 7 8 19 8 0 19 8 2 19 8 4 19 8 6 19 8 8 19 9 0 19 9 2 19 9 4 19 9 6 19 9 8 20 0 0 20 0 2 20 0 4 20 0 6 20 0 8 20 1 0 20 1 2 20 1 4 20 1 6 20 1 8 20 2 0 20 2 2 Pe r c e n t U.S. Annual GDP * 1980s 3.2%1990s 3.2%2000s 1.9%2010s 2.3%1960s 4.5%1970s 3.3%1950s 4.2% 4Lynwood Public Financing Authority - Page 10 of 33 Agenda Item # 2 Economic and Market Update Source: Bureau of Labor Statistics 12 Month Average Job Change 375,250 12/31/2022 -22 -20 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 2 4 6 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls Change -25.0 -20.0 -15.0 -10.0 -5.0 0.0 5.0 10.0 15.0 20.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 M i l l i o n s U.S. Monthly Non-Farm Payrolls YOY Change 5Lynwood Public Financing Authority - Page 11 of 33 Agenda Item # 2 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 0 5 10 15 20 25 30 Ju n - 1 8 Au g - 1 8 Oc t - 1 8 De c - 1 8 Fe b - 1 9 Ap r - 1 9 Ju n - 1 9 Au g - 1 9 Oc t - 1 9 De c - 1 9 Fe b - 2 0 Ap r - 2 0 Ju n - 2 0 Au g - 2 0 Oc t - 2 0 De c - 2 0 Fe b - 2 1 Ap r - 2 1 Ju n - 2 1 Au g - 2 1 Oc t - 2 1 De c - 2 1 Fe b - 2 2 Ap r - 2 2 Ju n - 2 2 Au g - 2 2 Oc t - 2 2 De c - 2 2 Pe r c e n t Unemployment Rates U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6Lynwood Public Financing Authority - Page 12 of 33 Agenda Item # 2 Economic and Market Update Source: Bureau of Labor Statistics 12/31/2022 128 130 132 134 136 138 140 142 144 146 148 150 152 154 156 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 M i l l i o n s U.S. Number of Employed Full-Time and Part-Time 60.0 60.5 61.0 61.5 62.0 62.5 63.0 63.5 64.0 De c - 1 2 Ju l - 1 3 Fe b - 1 4 Se p - 1 4 Ap r - 1 5 No v - 1 5 Ju n - 1 6 Ja n - 1 7 Au g - 1 7 M a r - 1 8 Oc t - 1 8 M a y - 1 9 De c - 1 9 Ju l - 2 0 Fe b - 2 1 Se p - 2 1 Ap r - 2 2 No v - 2 2 Pe r c e n t U.S. Labor Force Participation Rate 7Lynwood Public Financing Authority - Page 13 of 33 Agenda Item # 2 Economic and Market Update Source: Department of Labor and Bloomberg 12/31/2022 Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work. 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 19 9 6 19 9 7 19 9 8 19 9 9 20 0 0 20 0 1 20 0 2 20 0 3 20 0 4 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 M i l l i o n s Weekly Initial Jobless Claims (4 Week Moving Average) 8Lynwood Public Financing Authority - Page 14 of 33 Agenda Item # 2 Economic and Market Update *Real: Inflation Adjusted Source: U.S. Census Bureau Source: Conference Board 12/31/2022 -30 -20 -10 0 10 20 30 40 50 60 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t U.S. Real* Retail Sales YOY % Change 40 50 60 70 80 90 100 110 120 130 140 Ju n - 1 2 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 De c - 2 2 In d e x V a l u e U.S. Consumer Confidence 9Lynwood Public Financing Authority - Page 15 of 33 Agenda Item # 2 Economic and Market Update CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 12/31/2022 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t CPI and CPIX YOY % Change CPI CPIX 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 Pe r c e n t PCE and PCEC YOY % Change PCE PCEC 10Lynwood Public Financing Authority - Page 16 of 33 Agenda Item # 2 Economic and Market Update Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate 12/31/2022 0 2 4 6 8 10 12 14 16 18 20 22 24 Ju l - 1 4 De c - 1 4 M a y - 1 5 Oc t - 1 5 M a r - 1 6 Au g - 1 6 Ja n - 1 7 Ju n - 1 7 No v - 1 7 Ap r - 1 8 Se p - 1 8 Fe b - 1 9 Ju l - 1 9 De c - 1 9 M a y - 2 0 Oc t - 2 0 M a r - 2 1 Au g - 2 1 Ja n - 2 2 Ju n - 2 2 YO Y P e r c e n t Case-Shiller 20 City U.S. Home Price Index YOY % Increase 200 300 400 500 600 700 800 900 1,000 1,100 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Ne w -Th o u s a n d s Ex i s t i n g -M i l l i o n s U.S. New and Existing Home Sales Existing-Left New-Right 11Lynwood Public Financing Authority - Page 17 of 33 Agenda Item # 2 Economic and Market Update Source: U.S. Treasury 12/31/2022 $12 $13 $14 $15 $16 $17 $18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $29 $30 $31 $32 $33 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Tr i l l i o n s U.S. Federal Debt Outstanding 1.3 1.5 1.7 1.9 2.1 2.3 2.5 2.7 De c - 1 2 Ju n - 1 3 De c - 1 3 Ju n - 1 4 De c - 1 4 Ju n - 1 5 De c - 1 5 Ju n - 1 6 De c - 1 6 Ju n - 1 7 De c - 1 7 Ju n - 1 8 De c - 1 8 Ju n - 1 9 De c - 1 9 Ju n - 2 0 De c - 2 0 Ju n - 2 1 De c - 2 1 Ju n - 2 2 Pe r c e n t U.S. Treasury Interest Bearing Debt Avg Rate 12Lynwood Public Financing Authority - Page 18 of 33 Agenda Item # 2 Economic and Market Update Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg 12/31/2022 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 De c - 2 0 2 2 Ja n - 2 0 2 3 Fe b - 2 0 2 3 M a r - 2 0 2 3 Ap r - 2 0 2 3 M a y - 2 0 2 3 Ju n - 2 0 2 3 Ju l - 2 0 2 3 Au g - 2 0 2 3 Se p - 2 0 2 3 Oc t - 2 0 2 3 No v - 2 0 2 3 De c - 2 0 2 3 Ja n - 2 0 2 4 Fe b - 2 0 2 4 M a r - 2 0 2 4 Ap r - 2 0 2 4 M a y - 2 0 2 4 Ju n - 2 0 2 4 Ju l - 2 0 2 4 Au g - 2 0 2 4 Se p - 2 0 2 4 Oc t - 2 0 2 4 No v - 2 0 2 4 De c - 2 0 2 4 Ja n - 2 0 2 5 Fe b - 2 0 2 5 M a r - 2 0 2 5 Ap r - 2 0 2 5 M a y - 2 0 2 5 Ju n - 2 0 2 5 Ju l - 2 0 2 5 Au g - 2 0 2 5 Se p - 2 0 2 5 Oc t - 2 0 2 5 No v - 2 0 2 5 De c - 2 0 2 5 Ja n - 2 0 2 6 Pe r c e n t Fed Funds FuturesFed's Anticipated Rates Fed Funds Futures 13Lynwood Public Financing Authority - Page 19 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg Figures may not total due to rounding 12/31/2022 3Y 4.23 4.29 -0.06 30Y 3.97 3.78 0.19 5Y 4.01 4.09 -0.09 10Y 4.37 3.88 3.83 0.04 Change9/30/2212/30/22 3M Maturity 0.154.284.432Y 0.723.994.711Y 0.833.934.766M 1.103.27 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y Pe r c e n t U.S. Treasury Yield Curve Change 12/30/22 9/30/22 -20 0 20 40 60 80 100 120 3M 6M 1Y 2Y 3Y r 5Y 10 Y 30 Y Ba s i s P o i n t s Basis Point Change 14Lynwood Public Financing Authority - Page 20 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg 12/31/2022 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 5.00 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 3M and 1Y 1Y 3M 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75 3.00 3.25 3.50 3.75 4.00 4.25 4.50 4.75 De c - 1 7 M a r - 1 8 Ju n - 1 8 Se p - 1 8 De c - 1 8 M a r - 1 9 Ju n - 1 9 Se p - 1 9 De c - 1 9 M a r - 2 0 Ju n - 2 0 Se p - 2 0 De c - 2 0 M a r - 2 1 Ju n - 2 1 Se p - 2 1 De c - 2 1 M a r - 2 2 Ju n - 2 2 Se p - 2 2 De c - 2 2 Pe r c e n t U.S. Treasury Yields: 2Y and 5Y 5Y 2Y 15Lynwood Public Financing Authority - Page 21 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg 12/31/2022 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Jan - 5 4 Jan - 5 6 Jan - 5 8 Jan - 6 0 Jan - 6 2 Jan - 6 4 Jan - 6 6 Jan - 6 8 Jan - 7 0 Jan - 7 2 Jan - 7 4 Jan - 7 6 Jan - 7 8 Jan - 8 0 Ja n - 8 2 Jan - 8 4 Jan - 8 6 Jan - 8 8 Jan - 9 0 Jan - 9 2 Jan - 9 4 Jan - 9 6 Jan - 9 8 Jan - 0 0 Jan - 0 2 Jan - 0 4 Jan - 0 6 Ja n - 0 8 Jan - 1 0 Jan - 1 2 Jan - 1 4 Jan - 1 6 Jan - 1 8 Jan - 2 0 Jan - 2 2 Pe r c e n t U.S. Treasury Yields 2Yr and 5Yr -Fed Funds Target Rate 5Yr 2Yr Fed Funds 16Lynwood Public Financing Authority - Page 22 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg 12/31/2022 Global Treasury Rates 2 Year Yields 5 Year Yields 10 Year Yields 0.03% 1.22% 2.74% 2.77% 2.83% 2.89% 3.24% 3.40% 3.53% 4.05% 4.43% -2.0%0.0%2.0%4.0% Japan Switzlnd Germany Portugal France Spain Italy Australia England Canada USA 0.23% 1.42% 2.57% 2.87% 2.95% 3.14% 3.41% 3.60% 3.68% 4.00% 4.00% -1.0%1.0%3.0%5.0% Japan Switzlnd Germany France Portugal Spain Canada England Australia Italy USA 0.41% 1.58% 2.57% 3.11% 3.30% 3.58% 3.65% 3.66% 3.87% 4.05% 4.70% 0.0%1.0%2.0%3.0%4.0%5.0% Japan Switzlnd Germany France Canada Portugal Spain England USA Australia Italy 17Lynwood Public Financing Authority - Page 23 of 33 Agenda Item # 2 Economic and Market Update ICE BofAML Index (option adjusted spread vs. Treasury)ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB)Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices 12/31/2022 Current Spread is 7 Current Spread is 69 -20 0 20 40 60 80 100 120 140 160 180 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr Agency vs Treasury 0 50 100 150 200 250 300 350 400 450 500 550 600 650 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 1-5Yr A-AAA Corporate vs Treasury 18Lynwood Public Financing Authority - Page 24 of 33 Agenda Item # 2 Economic and Market Update *ICE BofAML Index (option adjusted spread vs. Treasury)*ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1)CMO Agency 0-3Yr PAC (CM1P) Source: ICE BofAML Indices 12/31/2022 Current Spread is 88 Current Spread is 71 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: AAA Asset Backed vs Treasury -150 -100 -50 0 50 100 150 200 250 300 No v - 0 8 No v - 0 9 No v - 1 0 No v - 1 1 No v - 1 2 No v - 1 3 No v - 1 4 No v - 1 5 No v - 1 6 No v - 1 7 No v - 1 8 No v - 1 9 No v - 2 0 No v - 2 1 No v - 2 2 Ba s i s P o i n t s Spread: 0-3Yr Agency CMO vs Treasury 19Lynwood Public Financing Authority - Page 25 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg 12/31/2022 -7.0 -1.9 -0.1 0.6 0.7 0.9 1.6 1.9 2.0 2.4 4.3 4.7 4.8 7.4 7.6 8.6 9.0 9.7 10.8 15.8 15.9 17.7 (10) (5) 0 5 10 15 20 Pe r c e n t Selected Sector Quarterly Total Returns 20Lynwood Public Financing Authority - Page 26 of 33 Agenda Item # 2 Economic and Market Update Source: Bloomberg 12/31/2022 -32.6 -31.2 -26.2 -21.9 -21.2 -18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2 -7.0 -5.6 -3.9 -0.6 0.9 9.5 17.5 29.0 (40) (30) (20) (10) 0 10 20 30 40 Pe r c e n t Selected Sector Year-Over-Year Total Returns 21Lynwood Public Financing Authority - Page 27 of 33 Agenda Item # 2 Economic and Market Update Sources: Bloomberg, FHN Main Street 12/31/2022 3.50 3.60 3.70 3.80 3.90 4.00 4.10 4.20 4.30 4.40 4.50 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Pe r c e n t 5 Year Treasury Note Yield Yields Higher After Bank Of Japan Raises Cap On 10-Year Japan Government Bonds Core CPI Up 0.6% Month Over Month Fed Hikes Rates 75bpsUnemployment Rate Dropped To 3.5%, The Lowest Level In Decades Q3 GDP Up 2.6% Powell Says Fed May Slow Down Pace Of Rate Hikes Treasuries Post Biggest Annual Loss Ever, As Inflation Takes Toll CPI YoY Up 7.1% Versus Expected 7.3%, Beating Expectations San Francisco Fed's Daly Says Rate Pause Is Off The Table October CPI 0.4% MoM Core 0.3% 22Lynwood Public Financing Authority - Page 28 of 33 Agenda Item # 2 Economic and Market Update Sources: Bloomberg, FHN Financial, FHN Main Street 12/31/2022 28,000 29,000 30,000 31,000 32,000 33,000 34,000 35,000 9/ 3 0 / 2 2 10 / 3 / 2 2 10 / 6 / 2 2 10 / 9 / 2 2 10 / 1 2 / 2 2 10 / 1 5 / 2 2 10 / 1 8 / 2 2 10 / 2 1 / 2 2 10 / 2 4 / 2 2 10 / 2 7 / 2 2 10 / 3 0 / 2 2 11 / 2 / 2 2 11 / 5 / 2 2 11 / 8 / 2 2 11 / 1 1 / 2 2 11 / 1 4 / 2 2 11 / 1 7 / 2 2 11 / 2 0 / 2 2 11 / 2 3 / 2 2 11 / 2 6 / 2 2 11 / 2 9 / 2 2 12 / 2 / 2 2 12 / 5 / 2 2 12 / 8 / 2 2 12 / 1 1 / 2 2 12 / 1 4 / 2 2 12 / 1 7 / 2 2 12 / 2 0 / 2 2 12 / 2 3 / 2 2 12 / 2 6 / 2 2 12 / 2 9 / 2 2 Dow Jones Industrial Average Sales Forecast By Best Buy Dampens Concerns High Inflation Would Lead To Poor Holiday Shopping Season Upbeat Corporate Earnings And Economic Data Cause Stocks To Rally August Job Openings Fall To 14- Month Low Powell Says Fed Could Slow Down Pace Of Interest Rate Hikes As Early As December University Of Michigan Inflation Expectations Rise For First Time In Seven Months Lower Than Expected October CPI Raises Hopes For Slower Tightening Apple Gains On Earnings Help Push Stocks Higher Smaller Than Expected Increase In CPI Lifts Investor Confidence Pace Of Rate Hikes Expected To Slow 23Lynwood Public Financing Authority - Page 29 of 33 Agenda Item # 2 Disclosure This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product. Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, a nd it may be incomplete or condensed. This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumpt ions may have a material effect on projected results. Ratings on all securities are subject to change. FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. 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NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COM PLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24Lynwood Public Financing Authority - Page 30 of 33 Agenda Item # 2 1 MONTHLY ECONOMIC REVIEW DECEMBER 2022 NATIONAL RETAIL FEDERATION After two straight quarters of year-over-year decline, the third quarter’s 2.6% annualized growth in gross domestic product was a solid improvement and much better than expected. The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates. Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction. GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation. Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021. Many eyes have focused on October’s inflation data, and a range of measures was better than expected. The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding. While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend. Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000. Lynwood Public Financing Authority - Page 31 of 33 Agenda Item # 2 2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals. As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure. Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer. So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier. CONFERENCE BOARD GLOBAL ECONOMIC REPORT Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world. The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and 2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth. Europe Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the Lynwood Public Financing Authority - Page 32 of 33 Agenda Item # 2 3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession. After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth. China The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth. After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024. Emerging Markets Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine). Lynwood Public Financing Authority - Page 33 of 33 Agenda Item # 2