By Grace Leung, Newport Beach City Manager
If you’ve been on the Balboa Peninsula lately you may have noticed that construction of the new Fire Station No. 2, at Newport Boulevard and 28th Street, is nearing completion.
After 18 months of construction, we are now in the home stretch with a projected completion date of mid-June.
The new fire station is a significant City infrastructure project that will help maintain and improve our emergency response capabilities for the local community.
The new station, at 2807 Newport Blvd., will replace the station at 475 32nd St., which is nearly 70 years old and no longer meets the operational needs of the Newport Beach Fire Department.
The new building, equipped with the latest technology to assist in response times and upgrades such as a decontamination area, will help our firefighters better serve our community for decades to come.
We are planning a ribbon-cutting event and open house later this month, and I will update our community once the details are finalized.
April Treasury Report on City Investments Now Available for Public Review
The April 2022 Treasury Report is now available on the City’s website.
As of April, the City’s investment portfolio totaled $379.2 million (when measured at amortized cost). The current market value of the City’s $371 million portfolio incorporates price fluctuations due to the changing interest rate environment that are generally irrelevant, since the City typically holds its securities to maturity and receives the full principal value at that time.
The City’s liquidity portfolio is sized to meet the City’s cash flow needs over the next 12 months. Approximately $62.6 million or 17% of the portfolio was invested in liquid investments available for day-to-day operating expenses and the costs associated with ongoing construction projects. An additional $34 million, 9% of the overall portfolio, was invested in a portfolio of securities with targeted short-term maturities, which is designed to meet cash flow needs over the next 12 months while earning a higher yield than the City’s more liquid investments.
The City’s short-term portfolio is utilized to invest the maximum amount of funds not anticipated to be needed for cash flow needs in the near term. The short-term portfolio amounted to $274.2 million as of April 30, or 72% of the overall portfolio. The income-return for the most recent 12-month period was 1.27%, while the current yield at cost on the portfolio is 1.20% with a weighted average effective maturity of 1.77 years.
An additional $8.4 million is invested in the City’s bond fund portfolio, which is utilized to invest cash on hand related to various outstanding debt issuances.
Swimming Lessons and Adult Lap Swim Available at Bergeson Aquatic Center
It’s time to break out the sunscreen and hit the pool! Summer officially kicks off at the Marian Bergeson Aquatic Center on June 13 with a full lineup of group and private swim lessons (starting as young as 3 months) and extended lap swim hours for adults. Swimming is an essential life skill for people of all ages, especially in an aquatic community like Newport Beach.
Register your little ones now to build their swimming skills and learn the importance of water safety. Drowning prevention starts with proper education and adult supervision. Remember to always keep an undistracted eye on the water while you’re enjoying your time at the pools or beaches this summer. A full list of swim lesson offerings and pool hours can be found at https://www.newportbeachca.gov/government/departments/recreation-senior-services/aquatics.
Be Well Mobile Crisis Response Update
The Be Well mobile crisis response team is now operating in Newport Beach 12 hours a day, seven days a week to respond to mental and behavioral health crises. The mobile unit is staffed with mental health specialists and EMTs, and works closely with the City’s police and fire departments.
This week the Be Well team:
- Transported one person to the Costa Mesa Bridge Shelter for intake.
- Transported a minor to a crisis stabilization unit for treatment.
- Transported a person to the sobering station at the Be Well campus.
- Transported nine people to services, shelter intakes, and appointments.
- Conducted 23 outreach interactions with residents and people experiencing homelessness.
Homelessness Update
The City of Newport Beach provides a comprehensive response to address homelessness through a coordinated effort by City staff, contractors, partner agencies and nonprofit groups.
This week the City’s homeless outreach and response teams:
- Continue to shelter people. Seventeen people who had been experiencing homelessness in Newport Beach are now sheltered in the Costa Mesa Bridge Shelter.
- Enrolled two people into services and completed housing assessments.
- Completed housing paperwork for two clients.
To donate to those experiencing homelessness in Newport Beach, please visit https://www.newportbeachca.gov/trending/community-issues/homelessness.
UPCOMING MEETINGS
TUESDAY, JUNE 7:
PARKS, BEACHES & RECREATION COMMISSION / 5 p.m.
City Council Chambers / 100 Civic Center Drive
WEDNESDAY, JUNE 8:
HARBOR COMMISSION MEETING / 5 p.m.
City Council Chambers / 100 Civic Center Drive
THURSDAY, JUNE 9:
CITY ARTS COMMISSION MEETING / 5 p.m.
Central Library / 1000 Avocado Avenue
PLANNING COMMISSION MEETING / 6:30 p.m.
City Council Chambers / 100 Civic Center Drive
