Here we are with another Council meeting, another light agenda, and there are still a dozen important items that are not appearing on the agenda. (Click Here for the list). The most important item not appearing on the agenda is the work being done on Saddleback Ranch Road. (Click Here for a full discussion of that issue).
SADDLEBACK RANCH ROAD (SRR)
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SRR is not on the agenda, but it should be. Two weeks ago Councilman Nick and I tried our best to get our colleagues to put this item on the agenda, but we were unsuccessful (Click Here). That doesn’t mean that you can’t come to the Council meeting and make your opinions known. More than 700 people have signed an online petition, and nearly 100 showed up previously. If you have serious worries about SRR, this is the place to come and express yourself.
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TREASURER’S REPORT (Item 6)
Our ROI on our $72,728,736 is now a whopping 0.546%. That seems pathetic, but when I started on the Council it was less than 0.3% so let’s be happy with the progress. Personally I am getting 1% on my investments in the banks, so I can’t understand why the City gets even less than I do. Maybe smaller is better?. Still you have to wonder why this rate is so low. Let’s hope that the recent changes based on the investment committee that Mayor Pro Tem Hamilton and I worked on will bring us more money for the City. That’s also on the agenda tonight under Item #7
PACE PROGRAMS (Item 11)
The Council will review several PACE (Property Assessed Clean Energy) programs for approval to be offered to residents of Lake Forest. According to the staff, these programs are “offered in 30 counties and 275 cities across California.” This will allow property owners to voluntarily enter into an agreement to pay a special tax on their property to fund energy and water improvements on the property.
Some residents have complained that this program is open to abuses, that the rates being charged are more than could be achieved getting a 2nd TD, that the fees are greater, and that using a lien on your mortgage may not be ideal for some people. I think these concerns are legitimate, but unless there are clear instances in which these programs are inherently disreputable, it’s not up to the City to limit people’s choices because possibly there are better deals out there. For example, should we prohibit some auto dealers because their interest rates are higher than others, and their discounts are lower? Or do we allow legitimate businesses to operate and offer choices to people whom we hope make an informed decision.
I asked the City Clerk to check these companies with the State and with the BBB to insure that they had a good record. Beyond that I am worried about regulating businesses far beyond what most people expect of a City government.
FWIW – I switched to solar electricity a few years ago and have seen more than a 15% drop in my bill, while others have seen their bill increase. In my case I didn’t use any of the PACE programs and go my system installed for $0. I suggest anyone interested in these types of programs shop around for the best deal.
UNFUNDED LIABILITIES
The question of unfunded liabilities has been hanging over Orange County for decades, but it also hangs over the cities with regards to our pension obligations to our employees who are enrolled in the CalPERS system. According to the staff report, our unfunded liability is $3,720,865. Given that we have a lot of money in the bank (see Treasurer’s report) and we are getting very little interest, it seems like a good idea to pay this off right now and avoid the $5,985,923 in interest payments if we stretch this out for 30 years. That’s what the staff report recommends and I agree.
OFFICE HOURS
I will not have office hours Tuesday. I will be available next week at the usual time.
ABOUT THE AUTHOR
Dr. Jim Gardner is on the City Council for Lake Forest. You can check him out on LinkedIn and/or Facebook and you can share your thoughts about the City at Lake Forest Town Square on Facebook. His comments are not meant to reflect official City Policy.
Dr. Gardner has office hours every Tuesday from 4 pm to 6 pm at the City Hall. In addition, he holds a Town Hall meeting every quarter. The next meeting will be on Dec 12 at 2 pm at the Foothill Ranch Public Library.
