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Home My WebLink AboutCommittee of the Whole - 15 Jun 2026 - Agenda (2) • i� � � • CITY OF RENTON Special Committee of the Whole June 15, 2026 Council Conference Room, 7th Floor, City Hall — 1055 S. Grady Way 1. URBAN FORESTRY UPDATE 2. INVESTMENT ADVISOR INTRODUCTION , r an ores r � ae Com m ittee of the Whole J u n e 15 , 2026 MARYJANE VAN CLEAVE, PARKS AND RECREATION ADMINISTRATOR JOHN RUPP, P.E., PARKSAND TRAILS DIRECTOR GABRIELLA GOLZARIAN, INTERIM URBAN FORESTRYAND NATURAL RESOURCE MANAGER � � � �Ciry of Renton � Renton Urban �` "''Growth Area Tree Cover and � � � � � � � � � � / 1 �,f,`' CanoPY � - � Tree Cover ��` ' �Tree Canopy over ' Impervious Surface � 1 • . . • • — � �"4-, , . .. � � � 1 � � � � � - -- �A+��.l � `� _s � ----- j� , ` � �J �-- �� 4h � I • • � . . Q. _ .4� /'t �� - � -1.��.�,r' _ i � �. {� ' ..L S � � r5'1�'. � `�,�_ �`"'�, '[ � '� "` �`' , , : .:y , . � �+�' , � < �: � 9 '� -_" y�/i._ sisr'� . .r r � , � • ■ � � �� '� � ' t., � � � � • , � ^.: .o, � � �� '�'`iM �r �':r , _ � � :3a'\„7► ;. -- - ., _ - - Y T Y � � £ �+ ��+��-. l r. � / • � � � _.. �� .� � }y,_ �p�,� � . . �.... I'� !Y �,!'� �"�';�J'. � ` - .,� .��1 ��Fe•y�.�'�rl.., . �, ��i,l_.x.�.. + �. / � • � • � � � � � � . • � . .� '.. �5 + �,.�^�.�r� �,� „"". ' "_' � � `r/1 4 ; ��3y�' y�'i ' �..��.' � �� ' """' "-_ � � � � � / � � • � � � ' c ,. ,i;s'��.. 1 � 0 0,5 1 2 Miles Loo ki n Fo rwa rd .,,; �. _.Y �i. -�� -+�� i► • Urban Forestr Mana ement Plan '� ' `' � ;��, -� �- ,T v g �; ��- ., , J�� / �� • � ` '•�, �,�rJ /��`�/ �� . � .. Benchmark Status Nearly HalfwayThrough ��,� , � � - , ,�: t'�. (r' , . � ' � ,. �. � � - , . . . • Canopy Expansion/Preservation: � :r--��: . ` �� _ .�, "� � �� '. ~r_.��Q�.,}..� �-,�,1�; : 1 �C "t'. , a, <'ri'G + 1 ' , , a�'Ial �,'� }�� _ . i , ! v-fk ! .j� �� ` �,r .r�: • Supporting Developer Design � � �,� � 1' ^� .� I"t 4 '� t } °-j � w.•�.. 1 `,L�„�r�1�t ' � ��}:c N,'r sr . `�� i,�, rp ,.;,� . ,��ril:.,:� '_�'s�-„"ir�' ; ;'�,, s • Tree Projects — Spring & Fall ��' "�'�"`,;,� R �` _n ., �;:.�; - - '; „� -'�`�`y, ,,; ► -�,..x-.., �`�. �` �' . • • r ...�' �,� ':> Ri - ..�? • • • ��"` � �- ,•� � �T�tN '` ' „ /" ROW Areas �;;� .. � �,. .., �� . �,..,..��: � ��r,,�, n, .. t � - t.�. J� r -�- • � ,��1� ��. ��.:v '� '��. .• - -.- . • t ` �,_ ,y�� :r� ��ey n c.. �!.� ? - • Contract Adjustments — Increased Quality Control t. �=�''� � � � ��'��}��`�"'� - �� .� vt w�� t .• - •- • `iY�i,� ��°�� t:.'-� �,.� . '' '.,ti�� ..a. `�`7�C:� -r • . y ��. �,�.;I�� . ;, 1��_^1'�� '� � ��,�+� .: • Partnerships .. . f,�--' :'�,y�`; �` ��F-•4 � �:� -• • � .� ��a'� �: :.N�,-= , ; . ' .��7�I .� . � ::�f f 'J' � +� _ T' l� : �D:tl•� 3�'�� . .�'•�1�(��f��.��1`C�S 1L�A. •• �'T� �A• � Awards - Certifications �---..� • 2025 Tree City of the World • Renton is 1 of 2 cities in Washington State -_ . N �� , � � • Tree CityUSA _ � - � _ �- �.. • 18 Yea rs ' "y ; , � ; ► �, • Growth Award - Arbor Day Foundation - • 14 Yea rs � Tree Cttles 2025 OFTNE WONLD gY THE • Dedication to Tree Stewardship & Preservation m��,�„ NUMBERS � � � _ • 283 • Evergreen Community _ � � ��b� - � - :. " �� 4� 410,000,000 � People I�ving in a Tree G�ty • I / • I • � � � . . . Carbon sequestering Decrease Provide wildlife Protect Boost property values co erosion habitat biodiversity • • ' . ' . • • . � � • � . Great benefit to cost o:� rati0- 3.6:1 ,,��rK"�`' tc ,; .,y�r.ns�v o , � '';, ✓x'n%,�i� '!� t ,�µ��,;,�., Y�ryt, � � � � � • Community image ., ;a.,'.., , 5, , '`,`�11i�rY; u ji'�� (f'i k �� r � � eflhdt1C21'1'12f1t �� , ` '� �,� � ��i�, '��`/�1 i�� ',ij '�i� �;� �+�� ,,�'.��;r, '�, � � r ; ,,��, r r, �� Recharge ..�, � � , '*; � ''� �r'' ��(' groundwater .�� :r,;;r , �.. r� ,�' i l`'I � • • I . -�y�� t� � � � z' ,r.>,'^,, , ;.��, Reduce � `�`� ; `: � �,; -;�ti ,�;�ti,�, Improve water coolin costs 71�1 ( 1 � �' ``�; V^',r�,� 9 ?,,� , �v� �tlt quality i . �\��j � � � > � . �'�,, i- ti-'- -- � ' � 7'' �I,� �{,•'==r � / i/V�h�l�,ir • ,�� . . � � ��/��"�� ` i i,�� ,'��i i"� � ., . � • — � — �` .��` �,t�`. �n 1'�"� ` • � I ,\.`�/\ , , `, � . �.� � Y��1\ 1( �'"�-. . �, � ;tl A ` - 'I , : , 1 ' , , �� . � .� �';� _ . ;,! ,�1�1 ,t � , �;�. � �;,�- � �i _ 4� � �, . � ,l '� `,� . _ � � �� y, �! //. _ � �'._ . n . ��^ 'I` - � ��'�} . � �� f�l � [��_ � ; �,-,��h;�� ,. ��,: Y��r�� ,� ,,�� },.� , �,:. - , � '.—�, �`' ��I 1 ',� ��I�: ,!' ':Yc'��S��, `1 ,�';J�(� i� •._. / ��C'�fM�i . K," `',i ' ti�'\\G` �-_}/�\, i � �� ; , `� L_ t� tti �� , i;�'{��.��.,t�� f� :�'��F'�x - ti � '''-t ' � � \'��`'` �� f+ \� �1'�', -� �— { �- i, f'-•- `�l� C�'� C -` � (: v.:c.�-� - ..`t..�.... - � !� �- 1 y _ _ '.- L.�'__`.__ __"_._ _ . _ _' .-. ... _._ ._ _ r� � Reduce heat islands Increase business Provide shade Make life more pleasant Create visual buffers Improve mental Reduce stormwater utility Improve air quality, reduce and physical costs and decrease flooding greenhouse gases to combat health climate chan e pfml asset management . � o en on PFMAM Overview 717.232.2723 � pfmam.com PFM Asset Management NOT FD/C/NSURED:NO BANK GUARANTEE:MAY LOSE VALUE For Institutional Investor or Investment Professional Use Only— This material is not for inspection by, distribution to, or quotation to the general public A enda g • Bios • PFMAM Overview • Services Provided • City of Renton — Investment Policy Statement 2 Luke Schneider, CFA, Managing Director Luke Schneider is a Managing Director based in Tempe, Arizona. He oversees client � engagements in the Western region and has experience managing and advising institutional investment portfolios. Luke holds the Chartered Financial Analyst° (CFA) designation is a member of the CFA ,z Institute and CFA Society of Tucson. He earned a Bachelor of Science in Finance from the �� University of Arizona and a Master of Accountancy from the University of Southern California. Austin Gais, CFA, Director Austin Gais, CFA is a Director based in Denver, Colorado. He manages client � � engagements throughout the Rocky Mountain region, supporting public sector organizations and other institutional investors. Austin applies an analytical approach to client service, helping align investment strategies with long-term financial objectives. He began his financial industry career in 2017 and joined the firm in 2024. Austin earned a Bachelor of Arts in Finance from Lake Forest College. He holds the Chartered Financial Analyst° (CFA) designation. Ryan Kacher, Institutional Sales and Rel Mgr Ryan Kacher is an Institutional Sales and Relationship Manger serving institutional clients � � across the Pacific Northwest. He began his career in financial services in 2009 and joined f � `, the firm in 2025, bringing over a decade of experience in government services. He earned a Bachelor of Science in Geography from Brigham Young University and a � Master of Business Administration from the Thunderbird School of Global Management. 3 Christ Harris, CFA, CAIA, Managing Director ,;, Chris Harris, CFA, CAIA is a Managing Director and Head of the Portfolio Strategies - ,;` Group based in Harrisburg, Pennsylvania. He leads investment strategy development for large and strategically important client relationships and serves on the firm's Fixed Income Investment Committee and Risk Management Working Group. He earned a B.A. in Economics from Dickinson College and an M.S. in Financial Mathematics from Johns Hopkins University. Chris holds the Chartered Financial Analyst° (CFA) and Chartered Alternative Investment Analyst° (CAIA) designations. Riddhima Hinduja, CFA, Portfolio Strategit Riddhima Hinduja, CFA is a Portfolio Strategist based in Philadelphia, Pennsylvania. She � serves as a senior client strategist within the Portfolio Strategies Group, supporting key r ' clients, creating thought leadership, and guiding the development of tailored investment strategies. She has over 10 years of fixed income experience and holds the Chartered Financial Analyst° (CFA) designation. Riddhima earned a Bachelor of Science in Finance and Marketing from New York University and a Master of Business Administration from The University of Chicago. John Zhang, CFA, Director Sr. Portfolio Manager John Zhang, CFA is a Director - Senior Fixed Income Portfolio Manager based in a`�� Harrisburg, Pennsylvania. He manages fixed income separate accounts and contributes to �\� ' the firm's strategy process as a corporate credit strategist. John is a member of the Fixed- � Income Portfolio Management Team, where he focuses on portfolio construction and � ` credit positioning across institutional mandates. Previously, he was part of the credit research team, covering consumer, pharmaceutical, and industrial sectors. John holds the Chartered Financial Analyst° (CFA) designation and is a member of the CFA Institute and the CFA Society of Philadelphia. He earned a B.A. in Economics and 4 Mathematics from Franklin & Marshall College. Built to Serve the Public Our Solutions Sector 176�� • Local Government We serve state and local Investment Pools (LGIPs) governments, public pensions, in Public Sector Assets higher education, other post • Fixed Income Strategies Under Management* employment benefit trusts • Cash & Enhanced _ (OPEB), and public insurance Cash and captives • Short & Intermediate �O� Public sector investment and Duration • relationshi mana ement • Core A re ate p g JJ J Years Serving the Public teams experienced in the Sector* specific investment codes & ' Outsourced Chief needs of public sector clients Investment Officer (OCIO) • Strong performance track • Specialized Solutions 700� record, transparent reporting • Structured Products and commitment to client • Arbitrage Rebate Public Sector Clients* education *As of March 31,2026. Public sector includes government,pool,and TERM. Total assets under management for U.S. Bancorp Asset Management Inc. 5 were$435.8 billion. : . . . ' - • •. � C. • � • • - - . • '� �� • - U.S. Bank, N.A. • Among the largest commercial banks in the U.S. by assets Structure of U.S. Bancorp Asset Management, Inc. Organizational • Institutionally focused Registered Investment Support and Adviser • Fixed income and multi-asset solutions for Resources institutional investors • $435.8b in assets under management PFM Asset Management • A division of U.S. Bancorp Asset Management, Inc. • 40+ years of providing public sector investment solutions As of March 31, 2026. 6 Portfolio Management Leadership 45+ 20+ Greg Haendel,CFA Robert Cheddar,CFA Investment professionals* Average Years Experience* Managing Director— Head of Managing Director—Senior Fixed Corporate Fixed Income Income Portfolio Jeff Rowe,CFA James Sims,CFA Sector Specialists & Investment Strategies Managing Director— Head of Managing Director— Head of Liquidity Portfolio Management Public Sector Fixed Income Sectors: Portfolio Types• • Agencies • Money Market Funds and • Asset-Backed Securities Securities Lending • Certificates of Deposits • Local Government Commercial Paper Investment Pools • Corporates • Fixed Maturity TERM Credit Research Group Investments • Preserve Principal • Generate Alpha ' Mortgage-Backed Securities . Cash & Enhanced Cash • Manage Approved Lists • Municipals • Short& Intermediate • Repurchase Agreements Duration • Supranationals • Core Aggregate Fixed • Treasuries Income Investment Services Group • Structured/Escrow Trading Support � Trade Settlement � Data Management • Asset/Liability Matched Portfolio Strategies Group Investment Resources and Tools Portfolio Construction � Investment Analytics&Attribution Proprietary Models � Bloomberg AIM � TradeWek�larketAxess Structured Products Group S&P Global � CreditSights � Sustainalytics *Investment professionals include fixed income portfolio managers, traders, credit research,portfolio strategy teams. Average years of industry 7 experience. � • � • • • . • - � - - - - - � • • . _ Investment Policy Review — • Discuss investment preferences and objectives � • Review policy for compliance, comprehensiveness, balance, and clarity Cash Flow Analysis • Analyze historical cash flows • Determine an appropriate allocation between short- and longer-term investments , � � Strategy Development & Implementation � � • Review strategy options • Align strategy with investment objectives We strive for effective client communication and service. • Transparent, timely communication of portfolio and market information • Detailed reporting and fundamental investment education 8 Our team is your team. � 000 • � • � • • • • • • • • • • • � • � • O • • • • • • • • • • • • • • • • • • 444 , . PFMAM is an extension Rely on our industry What we will work to deliver: of your team: knowledge to: • Strategy in line with your return • Dedicated engagement team • Work with you to develop your objectives and risk tolerances • Comprehensive reporting suite investment program • Reduced income volatility in the • Fiduciary to City of Renton • Review investment policy portfolios • Education • Systematize credit analysis • Mitigated credit, optionality, and • Maintain compliance interest rate risks 9 � pfml asset L e a r n w i t h U s management "E�,anom�i�:�:loutls Ihi�,Acn as markets�cm.�ln icsil�icnl." EConomiCHlghlight5 o�ueus.aem�e�imq.nierstmeroo�:wa:or,am�a-o�mee. �The COVID-16 zur ne us.ma�n ��i xee tlropdeaE Eate Eut ConBress passe0 a nine-week spending Eil ge in t epan in y pea - Qarly OaoEer�o avert a govemment s�u�tlown antl a similar n SepremDer Defore trailinB o�sharpy.T�e overall tdl remains x4nsian br Me tleEt ceil�np_TM1iz liketyjust WSM1ez Me poliucal s�88e^�9��'�44 miliion cases an0 more Nan]00.0��tleaths bnnkmanzM1ip ro earfy DecemEer. benc�maik retums zuMeretl hom the nse in rates • and�0��year T azury in0exes lost 1�0%antl 2 0%� Frequent & Recurring Seminars pfml asset management "°1eT'ef ��.,ae�icl�o�oo.a�e�::�.o«.as n,o�a ee:arte anirty.cross issuan«In^q'_'o�emeertotalea S�e] stor aDDe�e remains quile roCust antl yieltl • Customized workshops (on-site) `°°�°rem°°P51 Equity Markets � � � • markea Oroke a seven-monN winninp ztreak. .n�ene. �awano�m�«.�:. • In-person seminars offering °°"`"d'�ce5P9ra��°�='°°'°°"'W��"S`P SeO�ember but was still u0�ea�ly 18%br Ne ztlaq fell�.3%.w��ile tFe Daw Janez InCurtnal Continuing Professional Education PFM Asset M Diverse Teams (CPE) credit pfmlasset Make a Difference management • Featured webinar offerings to address Annua �EAssetswithint�eShon Dlve�sity in C�sh Managemen[ Duration F.I.Universe developing market events Cashreservemanagementnasrypicalrybeen ss�e+s a n d F i CO��tratetl in I�e laigesl asset managers � TTis histonwl pattem potm0ally minim¢es Ne abiliry o( instinrtional Investors ro nave Neir nsn management Market� r��tliversdyequdyanOinclusion�DEl)gaals Despite often being over-Io0ke0 Uy lafger institulim3l asset owners,the average reWms generated by minairy an0 women o�ertletl business eMefpnse(MWBE)manaqel5 arerelativelystronqaqainstcalp3fadebentllmalks. =g�a.��z � Thought Leadership .M,vaEP�.«�,e� ��aE��, MWBE Perlormmce Fxceetls 1-3 Vear U.S.Treusury Intlex a oov. 3�y=: • Mont y mar et up ates ,�.: 3_ . The Economic Outlook fo ,�.; _ ,ap., zw..: ,ao^. z.in: • White papers and educational pieces JoinPFMAssetManagemenYsinvestme ,�•, _- . discussion on the economic outloo +�•: '5'�' ,=o� ,�.: • Webinars and other tools Thursday,Decembe ��•+ 2:00 pm-3:00 pm °°°" ,�3, , e3,� ,ro,rs -r�a5 ��ve�rs 7:00 pm-2:00 pm M'N�E_nan0ur��c�Avxa� •CEBotAMLl�3vea�_�-�-�s.ry 12:OOpm-1:OOpm „aaeam.��.�ma.•n.ec��;ooa-.,n�aooc.m... ro.��o.ro�o��amm.w�� P^�6'SOA onvershry ��:OO8m��2:O0 rLeP�op��tionotsssetsnitLi¢el'esmmtisEondo�atimfiudummemirussCebn5iu5m>m'9Em 6 ��RSEoxa .�re�a ue a�gaee rem.n��ni a q'�m,��z u a u«�n..i..=o=o. 9:OOam-10:OOe Coordinated Solution � Diverse Manager •SVategy Developmenl •PortFdia ManagemeM � •Tratle Processing F� •R��9 For illustrative purposes only. 10 , PFAIAxuaMariagemmf I�'MSEIURma�M✓zstrrrwMnvlmmfProksxana.�.e�"+n'�- 1 This ma4i.Yv rofMnspection by,JsbbYion b,n qw6tion b Me geneMpuDle. Review of Current Cash Flow Analysis and Core Portfolio Sector Investment Policy Investment Program Li uidit /Core Selection Chan es and Policy p y Selection 9 Determining Core Portfolio Duration Establish an appropriate Investment Objectives Selection performance benchmark for Individual Funds 11 • As of September 30, 2025, the City had a core portfolio balance of $179.2 million and $324.3 million in liquidity*, which translates to 65.7% liquidity in the portfolio. City of Renton Historical Analysis of Core Portfolio $600 $500 y $400 � 0 � $300 $200 $100 $0 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 � Historical Liquidity � Historical Core Historical Modeled Core *Liquidity includes the City's LGIP account holdings and cash as of September 30,2025. Historical Core includes the City's designated Core holdings(excluding LGIP)as of September 30,2025. **Based on an assumed 15%liquidity cushion � • - - - ' � • • • • A dedicated group related to investing bond 2 � g04 � $ 237 . � � proceeds Transactions Assets Since 2010 • Extensive experience in bidding structured 40 400 � investments o 30 300 � = o � 20 200 � • 39 transactions since 2010, totaling nearly $7 N = billion in notional amounts Q 10 ' - I I ioo � o � � o • Active and passive strategies to �,o ,,�. ,,ti ,,� ,,� ,,� ,,� ,,� ,,� ,,� �o ��. �ti ti� �� ,o �,o �,o �,o �,o �,o tio �,o tio �,o tio �,o �,o �,o �,o reinvest proceeds in portfolios of securities �MarketValue NumberofTransactions Specialized Bond Proceeds Reporting Thought Leadership & Education on Bond Proceeds Investment nm�n.ae n<e. c�.e�w�.r,,,,a s�.w�. �• • • .. • ..i wi. . � .�-i�. .....,... 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Bond proceeds related transaction and asset data through December 31,2024. 13 � r ■ - - � _ _ ' � � � � � • • • • Examine current policy in • Review and address • Monitor and enforce relation to: changes to Code compliance • Industry standards and • Re-evaluate authorized list • Monitor changes to Code best practices of investments and best practices • Code requirements • Re-evaluate maturity limits • Provide accurate and and benchmark timely information • Diversification and maturity standards • Discuss strategy implementation • Risk tolerance and preferences • Reporting standards and requirements 14 - • • . - • • � ' • - - � • . ' ' 1 - • • - • • . - Policy Modernization • Expanded scope • Updated municipal code & statutory references Governance & Roles • Clarified approval responsibilities • Defined amendment procedures • Improved oversight Advisor & Delegation • Included allowance for non-discretionary advisor • Specified limitations of delegated authority • Clarified responsibilities delegated to the advisor Compliance & • Enhanced employee disclosure requirements Transparency • Defined regulatory response protocols Reporting & Structure • Eliminated redundancies • Simplified reporting Risk & Portfolio • Consolidated investment tables outlining maturity and allocation limits Guidelines • Updated constraints to align with Washington state statute • Added 3-year weighted average maturity limit 15 � • - Indexes shown are not available for investment. The index data reference herein is the property of the index provider and/or its licensors. The index provider assumes no liability in connections with its use and does not sponsor, endorse or recommend the products or services contained herein. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown. The views expressed within this material constitute the perspective and judgment of U.S. Bancorp Asset Management, Inc. (USBAM) at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon current opinion as of the date of issue and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information coniained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. No representation is made as to its accuracy or completeness. Please remember you could lose money with this investment. Safety of principal is not guaranteed. Past performance does not guarantee future results. Individual account performance may be greater or less than performance of the composite. USBAM claims compliance with Global Investment Performance Standards (GIPSO). "GIPS"is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. USBAM has been independently verified for the periods May 11, 2001 ihrough December 31, 2024. Copies of verification reports are available upon request. To receive a copy of the firm's composites, please email the firm's Distribuiion Group ai USBAMCIientService�a usbank.com. PFM Asset Management serves clients in the public sector and is a division of USBAM, which is the legal entity providing investment advisory services. USBAM is a registered investment adviser, a direct subsidiary of U.S. Bank National Associaiion (U.S. Bank) and an indirect subsidiary of U.S. eancorp. U.S. Bank is not responsible for and does noi guarantee the producis, services, or performance of USBAM. NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE 16