HomeMy WebLinkAboutCouncil Executive Report 07/2022 JULY 2022
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INTRODUCTION
This issue of the Council Executive Report provides a summary of the Town’s performance
during July 2022. The information is organized in sections based on the Town’s General Plan:
LAND MANAGEMENT: How Marana plans to use the land and where the Town expects
growth.
BUILT ENVIRONMENT: Man-made structures built on the land. It is used to describe
all structures, facilities and other physical infrastructure, and includes urban and rural
development, telecommunications, utility networks, transportation systems, and sewer
treatment and conveyance systems.
PEOPLE AND COMMUNITY: Marana values its citizens, businesses and visitors and strives to
create a high quality of life. This theme ensures that citizen, business and visitor needs are
addressed equally and includes public safety, parks and recreation, economic vitality and
community involvement.
RESOURCE MANAGEMENT: Provides guidance in managing Marana’s renewable and
non-renewable resources. Elements include open space and trails, cultural resources, water
resources and energy.
COUNCILMEMBERS
Mayor Ed Honea
Vice Mayor Jon Post
Councilmember Patti Comerford
Councilmember Jackie Craig
Councilmember John Officer
Councilmember Herb Kai
Councilmember Roxanne Ziegler
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TABLE OF CONTENTS
LAND MANAGEMENT
Development Projects 4
BUILT ENVIRONMENT
Capital Improvement Projects 5
Single Family Residential Permits - By Region 6
PEOPLE AND COMMUNITY
Animal Services 7
New Business Licenses 7
Marana Monthly Roundup 7
RESOURCE MANAGEMENT
Water/Water Reclamation 8
TOWN OF MARANA INVESTMENT PORTFOLIO SUMMARY (ATTACHMENT)
Summary for FY22 Quarter 4 --
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LAND MANAGEMENT
COMMERCIAL BUILDING PERMIT LOCATIONS – JULY 2022
COMMERCIAL BUILDING PERMIT – MONTHLY TREND
3
2
2
1
6 2
2 2111
6
2 2
2
For full project details, visit the Current and Proposed Projects Map.
2 1
5 6 4 4
1
5 6
6
7
5
3
3 2
3
6
5
11
7
11
7
4 3
6
4 5
10
6
0
5
10
15
20
Jul
2021
Aug
2021
Sep
2021
Oct
2021
Nov
2021
Dec
2021
Jan
2022
Feb
2022
Mar
2022
Apr
2022
May
2022
Jun
2022
Jul
2022
Remodels
New Buildings
TOTAL PERMITS ISSUED
6 July
38
6
Calendar
Year to Date
Fiscal
Year to Date
2022
The Town of
Marana Fiscal
Year runs from July 1 to June 30
7 7
1 1
6
2
2
2
5For full project details, visit the Current and Proposed Projects Map.
BUILT ENVIRONMENT
CAPITAL DESIGN & CONSTRUCTION REPORT
The following provides an update of major construction and design projects in the Town of
Marana. Visit the Current and Proposed Projects Map for a comprehensive list.
DESIGN
1. North Marana Sewer Interceptor
Budget: $10,300,000
Status: 10% Design
Fund Source: Federal
2. Tangerine Farms Rd, Extension
Budget: $21,800,000
Status: 0% Design
Fund Source: Transportation Fund
3. Tortolita Preserve Improvements
Budget: $230,000
Status: 60% Design
Fund Source: General Fund
4. Gladden Farms Baseball Fields
Budget: $550,000
Status: 90% Design
Fund Source: Impact Fees
5. Shared Use Path, CalPortland Extension
Budget: $3,000,000
Status: 95% Design
Fund Source: Park Impact Fees
6. Tangerine Rd Widening, Phase 2
Budget: $27,000,000
Status: 5% Design
Fund Source: Transportation Funds, RTA, Federal
7. El Rio Preserve Expansion
Budget: $485,000
Status: 0% Design
Fund Source: General Fund
8. Marana Community Center/Aquatic Facility
Budget: $47,000,000
Status: 0% Design
Fund Source: Sales Tax
9. Rillito Village Tr Drainage Improvements
Budget: $760,000
Status: 70% Design
Fund Source: Transportation Fund
10. LED Street Lighting Near Crossroads Park
Budget: $300,000
Status: 80% Design
Fund Source: Transportation Funds
11. El Rio Disc Golf
Budget: $240,000
Status: 30% Design
Fund Source: General Fund
12. Twin Peaks Rd, Rattlesnake Pass Widening
Budget: $18,000,000
Status: 80% Design
Fund Source: Impact Fees, Transportation Funds
13. El Rio Recreation Area Parking Lot
Budget: $170,000
Status: 60% Design
Fund Source: General Fund
14. Heritage Park Pole Barn
Budget: $140,000
Status: 80% Design
Fund Source: General Fund
CONSTRUCTION
1. Airport (PAPIs/MIRLs, Beacon)
Budget: $1,750,000
Status: 10% Construction
Fund Source: FAA, ADOT, TOM
2. Marana Drainage Improvements
Budget: $305,125
Status: 80% Construction
Fund Source: General Fund
3. Twin Peaks Rd - Sandario Rd Intersection
Budget: $1,100,000
Status: 99% Construction
Fund Source: Transportation Funds
4. 2022 Pavement Preservation
Budget: $1,285,730
Status: 80% Construction
Fund Source: HURF
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BUILT ENVIRONMENT
SINGLE FAMILY RESIDENTIAL PERMITS – BY REGION
14
Northwest Marana
Includes Gladden Farms,
Villages at Barnett
3
South Marana
Includes Saguaro Bloom,
Lazy K
20
Northeast Marana
Includes Dove Mountain,
Preserve at Twin Peaks
38
22
38
16
52
18 52
28
79
21
29
78
27
37
21
31
25
40
113
36
49
39
20
43
28
35
24
50
34
56
38
38
16
18
52
52
28
79
21
29
78
27
37
21
31
25
40
113
36
49
39
20
43
83
35
28
24
42
1538
16
52
21 27 31
113
39 28 15 11 16 3
22
18
28
29
37 25
36
20 35 42
10
25
20
38
52
79
78
21 40
49
43
83
24
38
22
14
98
86
159
128
85
96
198
102
146
81
59 63
37
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
210
TOTAL PERMITS ISSUED
37 686 37
July
2022
Calendar
Year to Date
Fiscal
Year to Date
JUL 21 AUG 21 SEP 21 OCT 21 NOV 21 DEC 21 JAN 22 FEB 22 MAR 22 APR 22 MAY 22 JUN 22 JUL 22
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PEOPLE AND COMMUNITY
MARANA ANIMAL SERVICES
Service Metrics – June 2022
Pet Licenses Issued 270
Stray Pets 24
Stray Pets Returned to Owner 17
Pet Adoptions 53
Licensing Revenue $6,455.00
Program Donations $176.00
NEW BUSINESS LICENSES
A total of 26 business licenses were filed in July.
Commercial Real Estate 1
Contractor 5
Home Arms Retail 2
Manufacturing 1
Online Sales 1
Restaurant 3
Retail 3
Service 10
MARANA MONTHLY ROUNDUP
The Marana Monthly Roundup is a video series that highlights the events and projects making
headlines in the Town’s Newsroom. Visit the following link to watch the June and July Monthly
Roundup: https://www.youtube.com/watch?v=EQwu08fpWj8
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RESOURCE MANAGEMENT
WATER/WATER RECLAMATION
New Connections – July 2022
Meter Installs 38
Sewer Cards 18
Water Customers 10,394
Sewer Customers 5,995
Water Gallons Billed 95.77 million
Millions of Water Gallons Per Month
PREVIOUS YEAR CURRENT YEAR
62.2
Water Usage By Type / July 2022
0
20
40
60
80
100
120
JulJunMayAprMarFebJan
58.7 68.1
77.8
110.4
97.6 95.8
67%
Single Family
2%Multi-Family
Government2%4%Commercial
Construction9%
16%Other Turf
PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
| pfmam.com
PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
Town of Marana
Investment Portfolio Summary
Quarter Ending June 30, 2022
480-271-0432
Luke Schneider, CFA, Managing Director
Annette Gaston, Senior Managing Consultant
Town of Marana as of
6/30/22Executive Summary1,2
11.Market Value and Book Value include $30,988,955 invested with the State Local Government Investment Pools 5 & 7 as of 6/30/2022.
2.Weighted average maturity includes LGIP balances and uses book values for weighting. Accrued interest and cash balances are excluded.
Account Summary Beginning Values as
of 3/31/22
Ending Values as
of 6/30/22
Market Value $99,988,817 $99,790,116
Book Value $100,660,084 $100,647,698
Unrealized Gain/(Loss)($671,267)($857,582)
Weighted Average YTM at Market 1.03%1.79%
Weighted Average YTM at Cost 0.62%0.97%
U.S.
Treasury
38%
Federal
Agency
9%
Corporate
2%
Commercial
Paper
20%
LGIP
31%
Sector Distribution
AA+
70%
AA
1%
AA-
1%
A-1
23%
A-1+
5%
Credit Quality
(S&P Ratings)
$0
$10
$20
$30
$40
$50
$60
$70
$80
MillionsWeighted Average Maturity:
161 days
Maturity Distribution
Town of Marana as of
6/30/22Security Type and Issuer Compliance1,2,3
21.Investment policy dated February 2020.
2.Maturity distribution does not include accrued interest.
3.Accrual basis earnings does not include LGIP balances.
Security Type Book Value % of
Portfolio
Permitted by
Policy
U.S. Treasury $38,863,278 39%100.0%
Federal Agency $9,248,532 9%100.0%
Corporates $2,027,356 2%40.0%
Commercial Paper $19,519,576 19%50.0%
AZ LGIP $30,988,955 31%100.0%
Total Book Value $100,647,698 100.00%
Maturity Book Value % of
Portfolio
Permitted by
Policy
0-6 Months $78,705,194 78%No Limit
6-12 Months $4,597,477 5%No Limit
1-2 Years $12,650,028 13%No Limit
2-3 Years $2,786,350 3%No Limit
3-4 Years $1,908,650 2%No Limit
4-5 Years $0 0%No Limit
Over 5 Years $0 0%0%
Total Book Value $100,647,698 100.00%
Accrual Basis Earnings 4/1/22 through 6/30/22
Estimated Earnings $137,092
Total Estimated Earnings $137,092
Issuer Book Value % of
Portfolio
Permitted by
Policy
FNMA $1,989,844 2.0%100%
FHLB $2,464,653 2.4%100%
FHLMC $4,794,034 4.8%100%
U.S. Treasury $38,863,278 38.6%100%
Apple Inc $522,628 0.5%5%
Blackrock Inc $500,276 0.5%5%
Visa $505,320 0.5%5%
Wal-Mart Stores Inc $499,131 0.5%5%
JP Morgan $3,897,543 3.9%5%
Manhattan Asset $3,290,907 3.3%5%
MUFG Bank $3,878,982 3.9%5%
Ing Funding $3,881,222 3.9%5%
Old Line Funding $3,287,749 3.3%5%
LMA Americas $1,283,174 1.3%100%
AZ LGIP $30,988,955 30.8%100%
Total Book Value $100,647,698 100.00%
Town of Marana as of
6/30/22Economic Update
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Current Market Themes▸The U.S. economy is characterized by:▹High inflation▹A strong labor market▹Depressed consumer confidence▹Growing potential for economic recession▸The Federal Reserve is tightening monetary
policy▹More aggressive rate hikes to battle persistent
inflation▹Short-term fed funds rate projected to reach 3.75%
by year end▹Start of balance sheet reduction; pace to double beginning in September▸Asset prices have fallen sharply in 2022 as a
result▹The impact of higher rates on bond prices and
equity valuations▹Wider credit spreads▹High commodity prices, rising labor costs, and the
continuing conflict in Ukraine▹High levels of volatility and uncertainty
Portfolio Strategy▸Utilize bouts of increased market volatility and
wider spreads (underperformance in non-U.S.
Treasury sectors) to build upon positions in
spread sectors (namely corporates and asset-
backed securities).▸Maintain a modestly defensive duration bias
relative to benchmarks, as the Fed is expected to
continue on the path to monetary policy
tightening via additional rate hikes and balance
sheet reductions.▸Maintain broad diversification by sector, industry,
and issuer focusing on those issuers and
industries benefiting most from the continued
economic recovery. ▸Seek to increase allocations to credit, while
remaining cautious on mortgage-backed
securities.
Town of Marana as of
6/30/22Treasury Yields Continue to Rise
4Source: Bloomberg, as 7/12/2022.
▸The 2-year Treasury rose 50 basis points during the second quarter.
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
2.2%
2.4%
2.6%
2.8%
3.0%
3.2%
3.4%Jun-20Jul-20Aug-20Sep-20Oct-20Nov-20Dec-20Jan-21Feb-21Mar-21Apr-21May-21Jun-21Jul-21Aug-21Sep-21Oct-21Nov-21Dec-21Jan-22Feb-22Mar-22Apr-22May-22Jun-222-Year Treasury Yields
June 2020 –June 2022
Disclaimer
Investment advisory services are provided by PFM Asset Management LLC (“PFMAM”), an investment
adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp
Asset Management, Inc. (“USBAM”).USBAM is a subsidiary of U.S. Bank National Association (“U.S.
Bank”).U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for
and does not guarantee the products, services or performance of PFMAM.The information contained is
not an offer to purchase or sell any securities. Additional applicable regulatory information is available
upon request.
For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.
Disclaimer
Investment advisory services are provided by PFM Asset Management LLC (“PFMAM”), an investment
adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp
Asset Management, Inc. (“USBAM”).USBAM is a subsidiary of U.S. Bank National Association (“U.S.
Bank”).U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for
and does not guarantee the products, services or performance of PFMAM.The information contained is
not an offer to purchase or sell any securities. Additional applicable regulatory information is available
upon request.
For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.
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