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File Number: 17-310 <br />through the weekly newsletter. The note will mature in 2018. <br />Councilmember Lee stated he supports community banks and believes they would work with <br />the City and provide services needed. Councilmember Lee supports bidding for bank <br />services. Councilmember Lee also expressed his concerns regarding the protesting of the <br />pipelines and the treatment of the Native Americans and all protesters. <br />Councilmember Hernandez indicated that he would like to be more proactive than reactive. <br />He would like to investigate what the benefit would be to go out for a Request for Proposal <br />(RFP) and how often should an RFP be done. Councilmember Hernandez would also like to <br />know about the other investments and their social stance. <br />Mayor Cutter would like more information prior to making a decision on changing banks and <br />going out to bid. How will this impact staff and their time? In regards to selling investments, <br />will there penalties? <br />3. PUBLIC COMMENTS <br />Amy Chovnick is a San Leandro resident and biology teacher spoke on climate change and <br />what is happening to environment as a result of using fossil fuel. Residents need to refuse to <br />support fossil fuel industries that are hurting the environment, e.g. the Marina. <br />Susan Erb requested that the City of San Leandro refuse to support companies, like Wells <br />Fargo, that invest in the fossil fuel industry, e.g. Keystone XL. This winter was an example of <br />the climate change impact on the Bay Area, e.g. Coyote Creek flooding. The City of San <br />Leandro may one day be impacted, as there is a creek that runs through various <br />neighborhoods of the city. <br />Virginia Madsen has divested of oil and gas. The city should, in stages, begin to move away <br />from companies that have investments in the oil industries. <br />Tom Stark also provided information on the damage that fossil fuel has caused. Mr. Stark <br />also requested that the City divest and defund from companies that invest in the industry. Big <br />companies, such as ING have begun to divest as a result of public pressure. <br />Deborah Hersh acknowledged that the City has already taken action and has made changes <br />for climate change and stated that divested and defunding companies that invest in the fossil <br />fuel industry is an extension of that. Ms. Hersh provided steps on how the City can improve <br />the Climate Action plan that is currently in place. <br />4. COMMITTEE MEMBER COMMENTS <br />If possible for the next meeting: the Committee would like an analysis of what would happen if <br />the $700k that is currently invested Wells Fargo is sold; an analysis of how much staff time is <br />needed to do a RFP or RFQ; an analysis of incorporating a social justice component within a <br />RFP or RFQ; and what is the cost or increase of rates from CalPERS if they are to divest? <br />Also, reach out to cities, e.g. Alameda, Santa Monica and Seattle on where they are with the <br />Page 3 City of San Leandro Printed on 5/30/2017 <br />75