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6.F. - Page 6 of 10 to the City's required annual contribution. Further, $10.0 million is recommended for deposit into the City's Section 115 Pension Trust account. The City established the Section 115 Pension Trust as a proactive measure for ensuring adequate funding for commitments made to retired and current employees. The Trust has a current balance of approximately $13 million. The proposed $10 million deposit will bring the Section 115 Pension Trust balance to approximately $23 million, which is available for use in the future to offset the City's annual pension contributions when they more than double what they are today. Other key strategies associated with funding long-term liabilities include a payment of $600,000 to the City's retiree health trust, and increasing the operational budgets for sidewalk repairs ($350,000) and downtown tree trimming ($50,000) in an effort to mitigate the risk of potential future claims and address concerns raised by downtown retailers. Support City Council Priorities — 20 Percent of Year -End Operating Balance Housing In order to support City Council's top priority of housing, staff is proposing that $1.2 million of the FY 2018- 19 operating balance be allocated to fund several key housing strategies and activities. This includes adding staff capacity in order to make progress on housing production, preservation, and protection. In addition to recommendations that were made during the FY 2019-20 budget adoption process in June 2019, new recommendations include: $260,000 for two-year administrative support for housing initiatives, economic development activities, and citywide initiatives such as climate adaptation and emerging policy analysis; $157,000 to complete funding required for the two-year Downtown Streets Team Pilot Program; and $150,000 for the Healthy Streets Initiative, which is intended to address community health and safety concerns related to individuals living in vehicles or encampments. In addition to the staff recommendations requiring allocation of City resources, staff has applied for funding from the San Francisco Foundation for a two-year Management Fellow. If received, the Fellow would focus on renter protection initiatives, preservation of existing affordable housing, and working with property managers and landlords on innovative programs and funding to help keep costs minimal for rents to remain stable. Additionally, the Fellow would evaluate the City's renter protection measures, work on programs and initiatives to preserve Naturally Occurring Affordable Housing Units, and support community engagement on renter protections, landlord and tenant meetings and other housing community engagement activities. In keeping with past practice, the City will work with a range of stakeholders and partners in conducting these activities. Staff currently anticipate that funding for the Healthy Streets Initiative will be used to facilitate safe dumping of sewage and human waste; a trailer and additional staff time to more efficiently remove illegally dumped items; and personal protective equipment to allow staff to safely handle and dispose of hazardous debris. Together, these activities will allow staff to more promptly, safely, and effectively address concerns about human waste and unauthorized dumping on City streets and public land. Additional ideas may be generated by the ongoing work of the Safe Parking Ad Hoc Committee, and approximately $50,000 is set aside within the $150,000 recommendation to support short-term measures recommended by the Committee. Page 6 of 9 r jEL 1 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org 313