RECOMMENDATION(S):
ADOPT California Tradewinds GHAD Resolution No. 2020/01 approving the GHAD budget for 2020/2021 fiscal year and updating GHAD General Manager payment limit under Consulting Services Agreement. ADOPT California Tradewinds GHAD Resolution No. 2020/02 approving the change of GHAD Treasurer from Watermark Asset Management, Inc. to CLT Management, LLC (“CLT”) , in
addition to a contract of services between CLT and California Tradewinds GHAD.
FISCAL IMPACT:
The GHAD is funded 100% through assessments levied on properties within the GHAD. The current GHAD Treasurer, Watermark Asset Management, Inc., charged the GHAD an annual fee of 0.25%, or 25 basis points, per year on the account balance of the GHAD. For services to be performed by the new GHAD Treasurer, investment manager and custodian, an annual fee is proposed of 0.25% or 25 basis points per year on the account balance of the GHAD.
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