Ristow, Moore, Rennie and Prevetti Try to Get a Tax Passed

posted in: Maria Ristow, Rob Moore, Rob Rennie | 0

Below is a public letter sent by the Town’s Finance Commission Chair as it regards the Town adding another tax, and another poor choice by the Town Manager of a consultant that cost us over $100,000, only to fail her responsibility – just as the Housing Element Consultant failed us.  They cost the Town over $300,000.  Did the town go ahead and pay both for failing their assignments and cost us well over $400,000?


From: Phil Koen
Sent: Sunday, February 18, 2024 5:14 PM
To: Mary Badame <MBadame@losgatosca.gov>; ‘mhudes@losgatosca.gov‘ <mhudes@losgatosca.gov>; ‘Rob Rennie’ <RRennie@losgatosca.gov>; ‘rmoore@losgatosca.gov‘ <rmoore@losgatosca.gov>; ‘Maria Ristow’ <MRistow@losgatosca.gov>
Cc: Linda Reiners; Laurel Prevetti <LPrevetti@losgatosca.gov>; Gitta Ungvari <GUngvari@losgatosca.gov>; Wendy Wood <WWood@losgatosca.gov>; ‘Gabrielle Whelan’ <GWhelan@losgatosca.gov>
Subject: Agenda item #14 – 5 year forecast


Dear Honorable Mayor and Town Council Members,

I am writing to you in my capacity as Chair of the Finance Commission. Unfortunately, because of the timing of the Council meeting, the entire Commission has not had an opportunity to review and comment on this memo. I take full responsibility for its content.  I believe the major points expressed by the Finance Commission have been captured and the memo is accurate. Continued

Public pensions and their risky investments

posted in: Pensions | 0

Taxes and Public Spending, Money and Finance, Work Research by SIEPR Senior Fellow Joshua Rauh on U.S. pension plans raises questions about their managers’ financial optimism. February 5, 2024 | Lee Simmons Executive Summary Public sector pensions in the US face a … Continued

An email To Rob Moore re: the risk to Los Gatos of you not doing your job.

Rob, we would be delighted to sit down with you and fully explain our concern. If you didn’t understand our letter, why not reach out directly and ask us for clarification? Wouldn’t that have been the responsible action to have taken as opposed to posting nonsense on NextDoor? How is that helpful to anyone?

Public pensions are mixing risky investments

More than 20 million Americans are covered by state and local government pensions. Unlike the 401(k) plans found in the private sector, these “defined benefit” plans promise to pay retirees a set amount of money every month for the rest of their lives.

For most public workers, these generous programs are a cornerstone of their financial security; for many, they’re one of the main attractions of government jobs. Yet the plans, by their own reckoning, are underfunded to the tune of $1.6 trillion.

Council to Review the Status of the Referendum on 4-2-24

Elections Code Section 9241 requires that the Town Council either 1) place the referendum on
the ballot for the November 2024 general election or 2) rescind its adoption of the Land Use
Element and the Community Design Element. At its October 2022 meeting, the Town Council
deferred making a decision as to which of these actions to take pending consideration of the
then-upcoming Housing Element adoption. The options are discussed in more detail below.
Once this primary decision has been made, there are other possible steps for the Town Council
to direct staff to take, which are included elsewhere in this document.