Berkeley Joint Powers Financing Authority Meeting – May 20, 2025

The Berkeley Joint Powers Financing Authority (JPFA) held a regular meeting on Tuesday, May 20, 2025, at 5:00 PM in the School District Board Room (1231 Addison Street) and via Zoom. Chairperson Ishii presided. The meeting covered approval of prior minutes and a single action item authorizing the issuance of lease revenue notes for the Fire Administration and Training Project. All votes were documented with roll call.

Consent Calendar

• Minutes for Approval: The consent calendar included only the minutes from the previous meeting. The motion to approve passed with 7 ayes, 1 abstention (Agency Member O'Keefe, who was not present at the prior meeting), and 1 absence (Agency Member Blackabi).

Public Comments & Testimony

• No public comments were offered on non-agenda matters, the consent calendar, or the action item. No hands were raised in the virtual meeting.

Discussion Items

• Action Item – Lease Revenue Notes for Fire Administration and Training Project: Staff and bond counsel (Chris Lynch, Jones Hall) presented the proposal. Mr. Lynch explained that the City must structure general fund financed projects as lease financings. The JPFA acts as an intermediary: the City leases an existing asset to the JPFA, which leases it back to the City; the City's lease payments are used to pay debt service on the notes. The City Council had already held a required public hearing and approved the financing; the JPFA's approval was the second step. No questions or further discussion followed.

Key Outcomes

• Consent Calendar Approved: The minutes were approved with 7 ayes, 1 abstention (O'Keefe), and 1 absent (Blackabi).
• Action Item Approved: The resolution authorizing the execution, sale, and delivery of lease revenue notes for the Fire Administration and Training Project was adopted unanimously. The roll call showed 8 ayes (Kessarwani, Taplin, Tregu, O'Keefe, Blackaby, Lunapara, Humbert, Chair Ishii) – note that “Blackaby” appears in the vote tally but the earlier roll call listed “Blackabi” as absent; the transcript may contain a typo. All members present voted in favor.
• Adjournment: The meeting was adjourned unanimously.