That with respect to Notice of Motion EC2025-0406, the following be adopted: NOW THEREFORE BE IT RESOLVED that Council: Approve a one-time reinvestment of $60 million in the Fund from the Fiscal Stability Reserve, and direct Administration to disburse this $60 million from the Fiscal Stability Reserve to the Fund in annual $15 million increments in 2025, 2026, 2027 and 2028; and Direct OCIF to submit an annual review of how funds have been committed from the Fund and what results have been achieved in advance of the annual $15 million disbursement from The City to the Fund.
The motion moves $60 million from the city's Fiscal Stability Reserve into a specific Fund as a one-time reinvestment. That $60 million will be paid in four annual installments of $15 million each in 2025, 2026, 2027 and 2028. Before each $15 million payment, OCIF must provide an annual report showing how Fund money has been committed and what results were achieved. (EC2025-0406)
The motion commits $60 million of reserve funds to the named Fund over 2025–2028 and ties each annual disbursement to an OCIF report on commitments and results, adding scheduled oversight to the payments. This changes the reserve-to-Fund funding flow and requires documented reporting before each installment. (EC2025-0406)