[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6429341,"mediaKeyId","5906398-fb118677a9d32589d1ffa3dc86519b9a","parentId",5906398,"title","Simi Valley council adopts updated investment policy; staff to study adding state-authorized fixed-income options","audioSeconds",8394,"startMs",1967000,"endMs",10361000,"viewUrl","/Search/View?dp=1&key=5906398-fb118677a9d32589d1ffa3dc86519b9a&start=1967&end=10361","thumbnailUrl","https://assets.pipeline.soar.com/5906398-fb118677a9d32589d1ffa3dc86519b9a/thumbnail_1967000.jpg","articleUrl","/articles/6429341/Simi-Valley/Ventura-County/California/Simi-Valley-council-adopts-updated-investment-policy-staff-to-study-adding-state-authorized-fixed-income-options","mediaUrl","https://secure.pipeline.soar.com/6429341-39bd2146e06494975ec3e0b920f06714/orig.mp4?Expires=1771004519&Signature=hSyyqy24Nzbc0sPkfTQPlSAyC4sf-oX4-2~XJl1rlyjCPakpwtvENOVSkZiqWyuPc1sH9RUsxSz4WaNtaStCzuVttGmPMCwBup8XWYKO~T2IupSDUBcc1bkZmitSN-QDPMRROM0KGdAgIri3WPRrVAg5dIktH0WFxKcDO6pdoFOVZmZtXb14ky2D5WgZnlKa4xLRK034yz0rHI6ra-aCj~vd4UYx4m1N4FqKvIxJgoyXnyLnMB05B1DdV3Dro5XXW02~sfhykWywzQTcm9G8zY9CossPPd9NAgQPJfr4S66d18-4BcKplNwcRJDlBMGgyv1Mbb1vCS-ceJJuXm29yQ__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Simi Valley","date","2025-10-07T05:53:44Z","article","The Simi Valley City Council on Monday adopted an updated 2025 statement of investment policy after a detailed briefing from the city's financial advisers, Insight Investments. The unanimous council vote approved language that preserves safety and liquidity as the city's primary investment goals while allowing staff flexibility to manage returns.

Insight Investments' senior portfolio manager, Mary Donovan, told the council that \"the City of Simi Valley's investment policy not only complies with California state statute, but provides the flexibility required to address the city's stated investment objectives of safety, liquidity, and investment return.\" Her team reviewed the city's fixed-income portfolio performance and recommended a small number of additional investment types the city could consider.

At the presentation, Insight identified three investment categories permitted under California law but not currently authorized in Simi Valley's policy: asset-backed securities (ABS), agency mortgage-backed securities (MBS), and corporate bonds offered under Rule 144A. Insight noted the potential for incremental yield from some of those instruments but warned of liquidity and prepayment/extension risks that would require governance and oversight.

Deputy Administrative Services Director Marvin Lopez recommended adoption of the 2025 policy as presented and said staff and the adviser would return with more-detailed options if the council wished to pursue them. Councilmember Ayala urged staff to work with Insight to evaluate the three additional asset classes and bring back practical recommendations.

Councilmember Rhodes said he supported exploring ways to increase returns for funds not needed for near-term liquidity, while Councilmember Litster emphasized the need to maintain operating liquidity for the city's budget and capital projects.

The motion to approve the 2025 statement of investment policy passed unanimously. Council also directed staff to return with analyses and recommendations regarding the feasibility and risks of adding the three state-authorized asset categories and of changing the portfolio's benchmark duration to capture incremental return.

Key points
- City adopted the 2025 statement of investment policy reaffirming safety, liquidity and yield objectives.
- Insight Investments recommended considering ABS, agency MBS and 144A corporate bonds, but cautioned about liquidity and prepayment risks.
- Council directed staff to return with options and risk analyses for those additions and any benchmark-duration changes.

The adopted policy will guide staff and the city's advisers in managing the general fund and other city funds consistent with California law and the council's risk tolerance.","mediaType","Video","parentTitle","City Council Meeting","oneSentenceSummary","The Simi Valley City Council unanimously adopted a revised 2025 statement of investment policy after a presentation by Insight Investments outlining portfolio performance and candidate asset classes the city could consider.","taxTitle","Simi Valley, Ventura County, California","taxId",3724,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6429346,"Council approves 3-year extension for Runkel Canyon development; homeowners push for shorter timeline",2514,7054000,9568000,"/Search/View?dp=1&key=5906398-fb118677a9d32589d1ffa3dc86519b9a&start=7054&end=9568","https://assets.pipeline.soar.com/5906398-fb118677a9d32589d1ffa3dc86519b9a/thumbnail_7054000.jpg","/articles/6429346/Simi-Valley/Ventura-County/California/Council-approves-3-year-extension-for-Runkel-Canyon-development-homeowners-push-for-shorter-timeline","https://secure.pipeline.soar.com/6429346-729c5bd5c34130654d6936508e8a6553/orig.mp4?Expires=1771004519&Signature=UELQ1cBo8522INoSyt5RdrW5hEQdX8Sb0CTgxQuwquC5DgiWCuhqAZRmwjHhqG5TfoLet5kPfSgwSyWxBGDHIoGyIWCCLJRIoF5PSew0p0F6wI~1QZYFKLTvHTrRsPvcQlDD4pZY-F8oYIA-cplGo8hy1my6RUtrOSwYf3pLkQoPSZ-lLghSW3altamZrSeItgH9XYEXN~Qt2e9MT4haQjZpfnJztT4GYw2kZ5vJZIQyNDM251WSXxGWuXm47cRGdW7h5hIDMIXGj7WZGhTl1iJA-qcT2JG8MIt-7C3z5vEGPVMNGfhGfa5MZXcklfo61h8RE2cZix-YhSRrXVepAg__&Key-Pair-Id=KUT5TJCACFTXG","The Simi Valley City Council on Monday voted to introduce Ordinance No. 1364, approving the fifth amendment to the Runkel Canyon development agreement (DA-2025-0001 / DA-04-01 AMD 5) and granting a three-year time extension with a potential two-year option if the developer meets agreed milestones.

The amendment lays out milestones — plan submittals, permit issuance, inspections and construction-completion dates — and includes financial penalties that become due if the developer misses hard deadlines. Staff also secured a commitment from the developer for quarterly public updates to the council, monthly coordination meetings with city staff, and an in-person initial review of submittals to reduce resubmittal delays.

Assistant City Manager Luis Garabay summarized staff work with the development team: \"These milestones include a combination of both hard and soft deadlines ... [to] help ensure that all three major components of the project move forward concurrently and ultimately get built,\" he said.

Several homeowners from the Woodlands neighborhood urged the council to shorten the initial extension. \"I'm asking you to amend the extension from a 3 year term with a 2 year option to a 2 year term with a 3 year option,\" said Ivana Christman, a planning commissioner and homeowner, calling a shorter initial term a stronger protection for residents who have endured repeated delays.

Developer representative Jordan Ferguson told the council his team has worked with staff and pledged to provide regular public updates. In rebuttal, the applicant said the quarterly updates will keep the council informed and maintain public accountability: \"The city council is gonna be seeing us every three months in a public hearing with staff to come forward and say, here's the progress that's being made,\" the applicant said.

Council members debated the timeline and accountability language. Councilmember Rhodes and others said the milestone payments and public updates should provide teeth to the agreement. Councilmember Ayala asked staff to include an \"owner\" column on the tracking chart to clarify who is responsible for each milestone.

The motion to introduce the ordinance was made during the meeting by Councilmember Rhodes and seconded by Councilmember Letzler. The council voted to introduce Ordinance 1364; the motion passed with Mayor Pro Tem Judge voting no.

What the amendment requires
- A three-year initial extension with a possible additional two-year option tied to milestone achievement.
- Quarterly public updates to city council and monthly coordination meetings between the city's project team and the developer.
- Liquidated damages (balloon payments) triggered if hard milestones are missed.

Public comment included repeated calls from residents for tighter deadlines and for the city to consider alternative developers if this developer cannot perform. Several homeowners asked for a two-year initial extension instead of three; the council did not adopt that change.

The council's introduction of the ordinance starts the formal process; staff and the developer must complete the technical finalization steps and the ordinance will be scheduled for subsequent readings and final adoption.

Notes: The development agreement amendment covers remaining work on Runkel Canyon’s estate lots, planned development lots, senior units and a recreation center; the amendment also obligates the developer to reimburse the city for staff and attorney costs tied to project management.","The Simi Valley City Council introduced Ordinance 1364 on Oct. 6, 2025, approving a fifth amendment to the Runkel Canyon development agreement to allow a three-year time extension with a potential two-year option tied to milestones and penalties.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6429352,"Simi Valley council amends meeting rules, sets larger maximum sign size and clarifies speaker-card process",1447,9650000,11097000,"/Search/View?dp=1&key=5906398-fb118677a9d32589d1ffa3dc86519b9a&start=9650&end=11097","https://assets.pipeline.soar.com/5906398-fb118677a9d32589d1ffa3dc86519b9a/thumbnail_9650000.jpg","/articles/6429352/Simi-Valley/Ventura-County/California/Simi-Valley-council-amends-meeting-rules-sets-larger-maximum-sign-size-and-clarifies-speaker-card-process","https://secure.pipeline.soar.com/6429352-41974e9046c07080d25674facf656482/orig.mp4?Expires=1771004519&Signature=hRFsVTk13N~gUAKzxNtFPiN4p4lp8AmULNcEzdhAjbnLVa8J8MrSJ2DjquGY0J1~B8i8W9Otg1V-NBQan~b6k1-7PfctXf-w1XeeH9LUiUdy3zfMtq24LMmXK5ABrnv51Gvz-h2xrjf8bGJ6LahpuHHnBguDJyMlfc3W2ROTWVOjOsBLzXvM0ereirP8gtw3lnYYp6Xh4k9QTb770cnbD0kgAEhNTLYnWF4l-BITBQyudYHxLtLsqZ2eipEkg1652TlGYLFDJk047IowfbtxjoJLeQgVbRUq2XnR7E63XMYmJTBG1bH-2d8RRch8RHUYvB6f4YJ1IOchhdaRZ5Yx4g__&Key-Pair-Id=KUT5TJCACFTXG","The Simi Valley City Council on Monday approved revisions to its public-comments and meeting-protocol rules, removing a proposed 8½-by-11-inch limit on public signs and replacing it with a maximum size of 20-by-30 inches. The council also directed the city clerk to announce before public statements begin that anyone still wishing to speak should submit a speaker card.

The changes came after more than a dozen residents criticized a draft rule they said would effectively silence public speakers and make it harder for attendees to make visible statements during public comment. Several speakers urged the council to keep sign sizes large enough to be legible across the dais.

The updated protocol also clarifies the timing for turning in speaker cards. The city clerk will now give a brief verbal reminder at the start of the public-statements period so late arrivals know they must submit cards at that moment to be counted in the speaker order.

\"To get a message across to our city council on all that's happening on the agenda in Simi in in 3 minutes is tough enough challenge,\" said John Lapper, a resident who testified during the public-statements period. \"Frankly, 2 minutes is a minuscule amount of time for you to hear our concerns,\" he added, referring to earlier drafts that limited total meeting time for public statements.

Councilmember Lisa Litzler, who led much of the council discussion on the item, said she supported removing the small-paper limit because she wants to be able to read signs. \"My eyesight's so bad. I'm wearing glasses these days,\" Litzler said during the debate.

Mayor Kavanaugh and other council members stressed the change was intended to strike a balance between preserving public expression and preventing signs from obstructing the view of other attendees. Under the new language, staff may ask speakers to reposition a sign that blocks another attendee's view.

The council approved the amended item as part of consent-business discussion. Councilmember Rhodes moved the change and Councilmember Letzler seconded; the motion passed unanimously.

What changed
- Replaced a proposed size limit of 8½-by-11 inches with a maximum sign size of 20-by-30 inches.
- Added a requirement that the city clerk verbally announce, before public statements begin, that any remaining speaker cards should be submitted at that moment.
- Removed a previous 45-minute overall cap on public statements, preserving the council's existing practice of calling speakers in the order received and managing time based on the number of speakers.

The revised meeting protocol will take effect for upcoming council meetings; staff will incorporate the new language into the formal meeting-protocol document and the city clerk's opening remarks.

Notes for readers: The sign-size change was made to respond to resident concerns that an 8½-by-11 limit would be too small to be legible from the dais. The new 20-by-30 maximum was adopted to give residents room to display readable messages while allowing staff to manage sightlines in the chamber.","The City Council approved changes to its meeting protocol after public comment, dropping an 8.5-by-11 inch limit on signs and instead setting a maximum of 20-by-30 inches. The council also clarified when speaker cards must be submitted and added a standard verbal notice from the city clerk before public comment begins.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6429339,"Council pauses automatic surplus-fund distribution for one year, directs funds to general fund",672,9375000,10047000,"/Search/View?dp=1&key=5906398-fb118677a9d32589d1ffa3dc86519b9a&start=9375&end=10047","https://assets.pipeline.soar.com/5906398-fb118677a9d32589d1ffa3dc86519b9a/thumbnail_9375000.jpg","/articles/6429339/Simi-Valley/Ventura-County/California/Council-pauses-automatic-surplus-fund-distribution-for-one-year-directs-funds-to-general-fund","https://secure.pipeline.soar.com/6429339-63bc738431b6ffd6e69331e2c72ee7b7/orig.mp4?Expires=1771004519&Signature=jpXRV2s5NkMiJ3Zdk9dA3i9BwZG1QA7LucIOfUe4EnSxu01IKV9zp4Vx3~sLtqIGgCi6sf0rQxGZuFFJRV2xIAeXELjCgYhlcIFAZQ0AmmWd8RO2gA-KYYG8Ad6GgmZ2S2Eq6z~qSr8nemH-0opi0ZkdggSGW3n12VVK7jUVMF~mbhDexyLOw0G9mTDRSA9lPD5NBM8hHYURiIMghsjbh0lLKm1J~-TOTb1Xs2JuWKit9IwOb~bLC5kD~IQPZhgtQlMELhomENwXIfQfvyxtIkMLgJYnIAY3kBMzwavJualk-KV9LVQg5YzFdR-3d~pXOZItA1RPiRQltae3rkL0gw__&Key-Pair-Id=KUT5TJCACFTXG","The Simi Valley City Council voted on Monday to pause its current policy for distributing year-end general fund surpluses for one year and to retain surplus dollars in the general fund. The policy, adopted in April 2022, previously directed surplus distributions as follows: 40% to a retirement-payment account (to reduce the city's CalPERS liability), 40% to an infrastructure investment fund and 20% to a contingency fund.

Administrative Services Director Carolyn Johnson told the council the existing approach has produced measurable results: roughly $12.3 million paid toward the city's CalPERS unfunded liability and more than $9 million directed to street maintenance over the last three years. With the 2023–24 surplus not yet assigned, the council had an opportunity to revisit allocations.

After discussion, Councilmember Rhodes moved to pause the current automatic allocation for one year, move the retirement and infrastructure shares into the general fund for potential reallocation, and keep the contingency fund in place. The motion passed unanimously.

Councilmembers said pausing the distribution will allow time to review near-term budget and capital needs. \"We have to make decisions that make the city work, but we also know that the workers we need to run the city,\" Councilmember Ayala said, noting the city's competing priorities.

Council direction and next steps
- Pause automatic distribution of surplus funds for one fiscal year.
- Move the 40% retirement and 40% infrastructure allocations back into the general fund for possible reallocation to pressing needs.
- Maintain the contingency fund allocation (20%).
- Staff to return with recommendations and options for how any unassigned surplus could be allocated in the coming budget cycle.

Background
The surplus-distribution policy had been used in past years to reduce pension liabilities and to accelerate street and infrastructure repairs. Councilmembers said the pause is temporary and requested staff return within the budget calendar year with options for prioritized spending.","The council voted unanimously to pause the existing policy that directs year-end general fund surplus into retirement and infrastructure accounts. For one year the surplus distribution will be halted and funds will remain in the general fund while the council considers priorities; the contingency fund allocation remains in place.","actionData","errors"]

Article not found

Simi Valley council adopts updated investment policy; staff to study adding state-authorized fixed-income options

Council approves 3-year extension for Runkel Canyon development; homeowners push for shorter timeline

Simi Valley council amends meeting rules, sets larger maximum sign size and clarifies speaker-card process

Council pauses automatic surplus-fund distribution for one year, directs funds to general fund