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March 2, 2026 Agenda Packet
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ŝŶĚŝƌĞĐƚůLJ͕ƚŽ^DDWďLJŵĞƌŐĞƌ͕ĐŽŶƐŽůŝĚĂƚŝŽŶŽƌƌĞŽƌŐĂŶŝnjĂƚŝŽŶ͕ĂŶĚ;ŝŝŝͿĂŶLJĞŶƚŝƚLJƉƵƌĐŚĂƐŝŶŐŽĨĂůůŽƌ ƐƵďƐƚĂŶƚŝĂůůLJĂůůŽĨƚŚĞĂƐƐĞƚƐ͕ĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJ͕ŽĨ^DDWĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͘dŚĞƚĞƌŵ͞ĞŶƚŝƚLJ͟ƐŚĂůů ŝŶĐůƵĚĞĂŶLJŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶŽƌƉŽůŝƚŝĐĂůƐƵďĚŝǀŝƐŝŽŶŽƌĂŶLJŽƚŚĞƌƉƵďůŝĐŝŶƐƚƌƵŵĞŶƚĂůŝƚLJŽƌĂƵƚŚŽƌŝƚLJ ĐƌĞĂƚĞĚƚŽƉĞƌĨŽƌŵ͕ŽǁŶŽƌĐŽŶƚƌŽůŵƵŶŝĐŝƉĂůƵƚŝůŝƚŝĞƐ͘ 'ƌĂŶƚŽƌĐŽǀĞŶĂŶƚƐǁŝƚŚ^DDW͕ŝƚƐƐƵĐĐĞƐƐŽƌƐĂŶĚĂƐƐŝŐŶƐ͕ƚŚĂƚ'ƌĂŶƚŽƌŝƐƚŚĞŽǁŶĞƌŽĨ'ƌĂŶƚŽƌ͛Ɛ >ĂŶĚĂŶĚŚĂƐƚŚĞƌŝŐŚƚƚŽŐƌĂŶƚ͕ƐĞůůĂŶĚĐŽŶǀĞLJƚŚĞƐĞƌŝŐŚƚƐĂŶĚĞĂƐĞŵĞŶƚƐŝŶƚŚĞŵĂŶŶĞƌĂŶĚĨŽƌƚŚĞ ƉƵƌƉŽƐĞƐĂĨŽƌĞƐĂŝĚ͕ƐƵďũĞĐƚŽŶůLJƚŽĞdžŝƐƚŝŶŐ͕ƌĞĐŽƌĚĞĚĞĂƐĞŵĞŶƚƐĂŶĚƌŝŐŚƚƐͲŽĨͲǁĂLJĨŽƌŚŝŐŚǁĂLJƐ͕ƌŽĂĚƐ͕ ƌĂŝůƌŽĂĚƐ͕ƉŝƉĞůŝŶĞƐ͕ĚŝƚĐŚĞƐ͕ŽƚŚĞƌĞůĞĐƚƌŝĐƚƌĂŶƐŵŝƐƐŝŽŶůŝŶĞƐĂŶĚƚĞůĞŐƌĂƉŚĂŶĚƚĞůĞƉŚŽŶĞůŝŶĞƐ ŚĞƌĞƚŽĨŽƌĞŐƌĂŶƚĞĚĂŶĚŽĨƌĞĐŽƌĚĂƐŽĨƚŚĞĚĂƚĞŚĞƌĞŽĨ͘ 'ƌĂŶƚŽƌƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽĐƵůƚŝǀĂƚĞ͕ƵƐĞĂŶĚŽĐĐƵƉLJƐĂŝĚ ĂƐĞŵĞŶƚWĂƌĐĞůƐŽůŽŶŐĂƐƐƵĐŚƵƐĞ ĚŽĞƐŶŽƚŝŶƚĞƌĨĞƌĞǁŝƚŚƚŚĞĞdžĞƌĐŝƐĞďLJ^DDWŽĨƚŚĞƌŝŐŚƚƐŐƌĂŶƚĞĚŚĞƌĞŝŶ͕ĞdžĐĞƉƚƚŚĂƚ'ƌĂŶƚŽƌƐŚĂůůŶŽƚ ĂůƚĞƌƚŚĞĞdžŝƐƚŝŶŐŐƌŽƵŶĚĞůĞǀĂƚŝŽŶŽĨƚŚĞ ĂƐĞŵĞŶƚWĂƌĐĞůďLJŵŽƌĞƚŚĂŶŽŶĞ;ϭͿĨŽŽƚĨƌŽŵŝƚƐƉƌĞƐĞŶƚ 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K&͕ƚŚĞƵŶĚĞƌƐŝŐŶĞĚŚĂǀĞĐĂƵƐĞĚƚŚŝƐŝŶƐƚƌƵŵĞŶƚƚŽďĞĚƵůLJĞdžĞĐƵƚĞĚĂƐŽĨ ƚŚĞͺͺͺͺĚĂLJŽĨͺͺͺͺͺͺͺͺͺͺ͕ϮϬϮϲ͘ ŝƚLJŽĨZŽĐŚĞƐƚĞƌ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ <ŝŵEŽƌƚŽŶ͕DĂLJŽƌ ^dd K&D/EE ^KdͿ ͿƐƐ KhEdzK&K>D^d Ϳ dŚŝƐŝŶƐƚƌƵŵĞŶƚǁĂƐĂĐŬŶŽǁůĞĚŐĞĚďĞĨŽƌĞŵĞŽŶƚŚŝƐͺͺͺͺĚĂLJŽĨͺͺͺͺͺͺͺͺͺͺ͕ϮϬϮϲ͕ďLJ<ŝŵ EŽƌƚŽŶ͕ƚŚĞDĂLJŽƌŽĨƚŚĞŝƚLJŽĨZŽĐŚĞƐƚĞƌ͕ĂDŝŶŶĞƐŽƚĂŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͕ŽŶďĞŚĂůĨŽĨƚŚĞ ŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͘ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ EŽƚĂƌLJWƵďůŝĐ /Et/dE ^^t, Z K&͕ƚŚĞƵŶĚĞƌƐŝŐŶĞĚŚĂǀĞĐĂƵƐĞĚƚŚŝƐŝŶƐƚƌƵŵĞŶƚƚŽďĞĚƵůLJĞdžĞĐƵƚĞĚĂƐŽĨ ƚŚĞͺͺͺͺĚĂLJŽĨͺͺͺͺͺͺͺͺͺͺ͕ϮϬϮϲ͘ ŝƚLJŽĨZŽĐŚĞƐƚĞƌ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ŶŶ<ĂƐĞů͕ŝƚLJůĞƌŬ ^dd K&D/EE ^KdͿ ͿƐƐ KhEdzK&K>D^d Ϳ dŚŝƐŝŶƐƚƌƵŵĞŶƚǁĂƐĂĐŬŶŽǁůĞĚŐĞĚďĞĨŽƌĞŵĞŽŶƚŚŝƐͺͺͺͺĚĂLJŽĨͺͺͺͺͺͺͺͺͺͺ͕ϮϬϮϲ͕ďLJŶŶ <ĂƐĞů͕ƚŚĞŝƚLJůĞƌŬŽĨƚŚĞŝƚLJŽĨZŽĐŚĞƐƚĞƌ͕ĂDŝŶŶĞƐŽƚĂŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͕ŽŶďĞŚĂůĨŽĨƚŚĞ ŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͘ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ EŽƚĂƌLJWƵďůŝĐ dŚŝƐŝŶƐƚƌƵŵĞŶƚǁĂƐĚƌĂĨƚĞĚďLJ͗ ^ŽƵƚŚĞƌŶDŝŶŶĞƐŽƚĂDƵŶŝĐŝƉĂůWŽǁĞƌŐĞŶĐLJ ϱϬϬ&ŝƌƐƚǀĞŶƵĞ^t ZŽĐŚĞƐƚĞƌ͕DEϱϱϵϬϮ y,//d > '> ^Z/Wd/KEK&'ZEdKZ͛^>E $ $ y,//d ^ D EdWZ > ^ĞĞƚƚĂĐŚĞĚ % dZE^D/^^/KE>/E ^ D Ed ;tŝƚŚ^ƵƌǀĞLJ džŚŝďŝƚͿ <EKt>>D Ezd, ^ WZ ^ Ed^͗ƚŚĂƚŝƚLJŽĨZŽĐŚĞƐƚĞƌ͕ĂDŝŶŶĞƐŽƚĂŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ ;ƚŚĞΗ'ƌĂŶƚŽƌ ΗͿ͕ŝƐƚŚĞŽǁŶĞƌŽĨƚŚĞůĂŶĚƐŝƚƵĂƚĞĚŝŶƚŚĞŽƵŶƚLJŽĨKůŵƐƚĞĚ͕^ƚĂƚĞŽĨDŝŶŶĞƐŽƚĂ ĚĞƐĐƌŝďĞĚŽŶ džŚŝďŝƚĂƚƚĂĐŚĞĚŚĞƌĞƚŽĂŶĚĚĞƐŝŐŶĂƚĞĚƚŚĞƌĞŽŶĂƐ͞'ƌĂŶƚŽƌΖƐ>ĂŶĚ͟;ƚŚĞΗ'ƌĂŶƚŽƌΖƐ >ĂŶĚ ΗͿ͘ /ŶĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨƚŚĞƐƵŵŽĨKŶĞŽůůĂƌ;Ψϭ͘ϬϬͿĂŶĚŽƚŚĞƌŐŽŽĚĂŶĚǀĂůƵĂďůĞĐŽŶƐŝĚĞƌĂƚŝŽŶ͕ ƚŚĞƌĞĐĞŝƉƚĂŶĚĂĚĞƋƵĂĐLJŽĨǁŚŝĐŚŝƐŚĞƌĞďLJĂĐŬŶŽǁůĞĚŐĞĚ͕'ƌĂŶƚŽƌĚŽĞƐŚĞƌĞďLJŐƌĂŶƚ͕ǁĂƌƌĂŶƚĂŶĚ ĐŽŶǀĞLJƵŶƚŽ^ŽƵƚŚĞƌŶDŝŶŶĞƐŽƚĂDƵŶŝĐŝƉĂůWŽǁĞƌŐĞŶĐLJ͕ĂDŝŶŶĞƐŽƚĂŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶĂŶĚ ƉŽůŝƚŝĐĂůƐƵďĚŝǀŝƐŝŽŶŽĨƚŚĞ^ƚĂƚĞŽĨDŝŶŶĞƐŽƚĂ͕ŝƚƐƐƵĐĐĞƐƐŽƌƐĂŶĚĂƐƐŝŐŶƐ;Η^DDWΗͿ͕ƚŚĞƉĞƌƉĞƚƵĂů ƌŝŐŚƚƐ͕ƉƌŝǀŝůĞŐĞƐĂŶĚĞĂƐĞŵĞŶƚƐŚĞƌĞŝŶĂĨƚĞƌƐĞƚĨŽƌƚŚ͕ƚŚƌŽƵŐŚ͕ŽǀĞƌ͕ƵŶĚĞƌĂŶĚĂĐƌŽƐƐ;ͿƚŚĂƚƉĂƌƚŽĨ ƚŚĞ'ƌĂŶƚŽƌΖƐ>ĂŶĚĚĞƐĐƌŝďĞĚŽŶ džŚŝďŝƚĂƚƚĂĐŚĞĚŚĞƌĞƚŽĂŶĚĚĞƐŝŐŶĂƚĞĚƚŚĞƌĞŽŶĂƐƚŚĞΗhƚŝůŝƚLJ ĂƐĞŵĞŶƚϮΗ;ƚŚĞΗ ĂƐĞŵĞŶƚWĂƌĐĞů ΗͿĂŶĚ;ͿŝŶĐůƵĚŝŶŐƌĞĂƐŽŶĂďůĞĂĐĐĞƐƐƚŽƚŚĞ ĂƐĞŵĞŶƚWĂƌĐĞůŽǀĞƌ ĂĚũĂĐĞŶƚƉŽƌƚŝŽŶƐŽĨƚŚĞ'ƌĂŶƚŽƌΖƐ>ĂŶĚ͘ 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^LJƐƚĞŵƐ͕ƌĞĂƐŽŶĂďůĞƐŝŐŶƐĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨůŽĐĂƚŝŶŐƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƚŚĞ ĂƐĞŵĞŶƚ WĂƌĐĞů͘ dŚĞƌŝŐŚƚĨƌŽŵƚŝŵĞƚŽƚŝŵĞƚŽƌĞĐŽŶƐƚƌƵĐƚŽƌƌĞůŽĐĂƚĞŽŶƚŚĞ ĂƐĞŵĞŶƚWĂƌĐĞůƚŚĞ ůĞĐƚƌŝĐ&ĂĐŝůŝƚŝĞƐĂŶĚ^LJƐƚĞŵƐǁŝƚŚĐŚĂŶŐĞĚĚŝŵĞŶƐŝŽŶƐĂŶĚƚŽŽƉĞƌĂƚĞĂƚŝŶĐƌĞĂƐĞĚŽƌ ĚĞĐƌĞĂƐĞĚǀŽůƚĂŐĞƐŽƌƚŽĂĚĚĂĚĚŝƚŝŽŶĂů ůĞĐƚƌŝĐ&ĂĐŝůŝƚŝĞƐĂŶĚ^LJƐƚĞŵƐ͘ dŚĞƌŝŐŚƚƚŽƉĞƌŵŝƚƚŚĞĂƚƚĂĐŚŵĞŶƚĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨǁŝƌĞƐŽĨŽƚŚĞƌƐƚŽƚŚĞ ůĞĐƚƌŝĐ &ĂĐŝůŝƚŝĞƐĂŶĚ^LJƐƚĞŵƐŽƌƚŽŶĞǁƐƚƌƵĐƚƵƌĞƐĐŽŶƐƚƌƵĐƚĞĚĨŽƌƐƵĐŚũŽŝŶƚƵƐĞ͖ƉƌŽǀŝĚĞĚƚŚĂƚ ĂŶLJƐƵĐŚƉĞƌŵŝƐƐŝŽŶƐŚĂůůďĞƐƵďũĞĐƚƚŽ'ƌĂŶƚŽƌ͛ƐƉƌŝŽƌǁƌŝƚƚĞŶĐŽŶƐĞŶƚ͕ǁŚŝĐŚĐŽŶƐĞŶƚ ƐŚĂůůďĞĐŽŶĚŝƚŝŽŶĞĚƵƉŽŶĂƌĞǀĞŶƵĞƐŚĂƌŝŶŐĂŐƌĞĞŵĞŶƚǁŚĞƌĞďLJĂŶLJƌĞǀĞŶƵĞƐĚĞƌŝǀĞĚ ĨƌŽŵƐƵĐŚĂƚƚĂĐŚŵĞŶƚŽƌƵƐĞƐŚĂůůďĞƐŚĂƌĞĚĞƋƵĂůůLJďĞƚǁĞĞŶ'ƌĂŶƚŽƌĂŶĚ^DDWŽŶ ĂϱϬͬϱϬďĂƐŝƐ͘ 'ƌĂŶƚŽƌĂůƐŽŚĞƌĞďLJŐƌĂŶƚƐ͕ǁĂƌƌĂŶƚƐĂŶĚĐŽŶǀĞLJƐƵŶƚŽ^DDWƚŚĞĨŽůůŽǁŝŶŐƉĞƌƉĞƚƵĂůƌŝŐŚƚƐ͕ ƉƌŝǀŝůĞŐĞƐĂŶĚĞĂƐĞŵĞŶƚƐƚŚƌŽƵŐŚ͕ŽǀĞƌ͕ƵŶĚĞƌĂŶĚĂĐƌŽƐƐƚŚĞ ĂƐĞŵĞŶƚWĂƌĐĞůĂŶĚ͕ƚŽƚŚĞĞdžƚĞŶƚ ĂƉƉůŝĐĂďůĞ͕ƚŚĞƉŽƌƚŝŽŶƐŽĨƚŚĞ'ƌĂŶƚŽƌΖƐ>ĂŶĚĂĚũĂĐĞŶƚƚŚĞƌĞƚŽ͗ dŚĞƌŝŐŚƚŽĨƌĞĂƐŽŶĂďůĞĂĐĐĞƐƐƚŽƚŚĞ ĂƐĞŵĞŶƚWĂƌĐĞůĂĐƌŽƐƐƚŚĞ'ƌĂŶƚŽƌΖƐ>ĂŶĚ 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ĐŽŶƚƌŽůůŝŶŐ͕ĐŽŶƚƌŽůůĞĚďLJ͕ŽƌƵŶĚĞƌĐŽŵŵŽŶĐŽŶƚƌŽůŽĨ͕^DDW͕;ŝŝͿĂŶLJƐƵĐĐĞƐƐŽƌĞŶƚŝƚLJ͕ĚŝƌĞĐƚůLJŽƌ ŝŶĚŝƌĞĐƚůLJ͕ƚŽ^DDWďLJŵĞƌŐĞƌ͕ĐŽŶƐŽůŝĚĂƚŝŽŶŽƌƌĞŽƌŐĂŶŝnjĂƚŝŽŶ͕ĂŶĚ;ŝŝŝͿĂŶLJĞŶƚŝƚLJƉƵƌĐŚĂƐŝŶŐŽĨĂůůŽƌ ƐƵďƐƚĂŶƚŝĂůůLJĂůůŽĨƚŚĞĂƐƐĞƚƐ͕ĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJ͕ŽĨ^DDWĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͘dŚĞƚĞƌŵ͞ĞŶƚŝƚLJ͟ƐŚĂůů ŝŶĐůƵĚĞĂŶLJŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶŽƌƉŽůŝƚŝĐĂůƐƵďĚŝǀŝƐŝŽŶŽƌĂŶLJŽƚŚĞƌƉƵďůŝĐŝŶƐƚƌƵŵĞŶƚĂůŝƚLJŽƌĂƵƚŚŽƌŝƚLJ ĐƌĞĂƚĞĚƚŽƉĞƌĨŽƌŵ͕ŽǁŶŽƌĐŽŶƚƌŽůŵƵŶŝĐŝƉĂůƵƚŝůŝƚŝĞƐ͘ 'ƌĂŶƚŽƌĐŽǀĞŶĂŶƚƐǁŝƚŚ^DDW͕ŝƚƐƐƵĐĐĞƐƐŽƌƐĂŶĚĂƐƐŝŐŶƐ͕ƚŚĂƚ'ƌĂŶƚŽƌŝƐƚŚĞŽǁŶĞƌŽĨ'ƌĂŶƚŽƌ͛Ɛ >ĂŶĚĂŶĚŚĂƐƚŚĞƌŝŐŚƚƚŽŐƌĂŶƚ͕ƐĞůůĂŶĚĐŽŶǀĞLJƚŚĞƐĞƌŝŐŚƚƐĂŶĚĞĂƐĞŵĞŶƚƐŝŶƚŚĞŵĂŶŶĞƌĂŶĚĨŽƌƚŚĞ ƉƵƌƉŽƐĞƐĂĨŽƌĞƐĂŝĚ͕ƐƵďũĞĐƚŽŶůLJƚŽĞdžŝƐƚŝŶŐ͕ƌĞĐŽƌĚĞĚĞĂƐĞŵĞŶƚƐĂŶĚƌŝŐŚƚƐͲŽĨͲǁĂLJĨŽƌŚŝŐŚǁĂLJƐ͕ƌŽĂĚƐ͕ ƌĂŝůƌŽĂĚƐ͕ƉŝƉĞůŝŶĞƐ͕ĚŝƚĐŚĞƐ͕ŽƚŚĞƌĞůĞĐƚƌŝĐƚƌĂŶƐŵŝƐƐŝŽŶůŝŶĞƐĂŶĚƚĞůĞŐƌĂƉŚĂŶĚƚĞůĞƉŚŽŶĞůŝŶĞƐ ŚĞƌĞƚŽĨŽƌĞŐƌĂŶƚĞĚĂŶĚŽĨƌĞĐŽƌĚĂƐŽĨƚŚĞĚĂƚĞŚĞƌĞŽĨ͘ 'ƌĂŶƚŽƌƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽĐƵůƚŝǀĂƚĞ͕ƵƐĞĂŶĚŽĐĐƵƉLJƐĂŝĚ ĂƐĞŵĞŶƚWĂƌĐĞůƐŽůŽŶŐĂƐƐƵĐŚƵƐĞ ĚŽĞƐŶŽƚŝŶƚĞƌĨĞƌĞǁŝƚŚƚŚĞĞdžĞƌĐŝƐĞďLJ^DDWŽĨƚŚĞƌŝŐŚƚƐŐƌĂŶƚĞĚŚĞƌĞŝŶ͕ĞdžĐĞƉƚƚŚĂƚ'ƌĂŶƚŽƌƐŚĂůůŶŽƚ 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