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2024-07-23 Council Special Packet1. 2 3. 4 OF BbMG ti Agenda Edmonds City Council 1,00 SPECIAL MEETING NOTICE COUNCIL CHAMBERS 250 5TH AVE NORTH, EDMONDS, WA 98020 J U LY 23, 2024, 5:30 PM PERSONS WISHING TO JOIN THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 CALL TO ORDER COUNCIL BUSINESS 1. Report on Construction Bids for the Main Street Overlay Project (5 min) 2. Approval of Supplemental Agreement with SCJ for Hwy 99 Revitalization Stage 3 (15 min) 3. Municipal Employees Benefit Trust (MEBT) Updates (30 min) CONVENE IN EXECUTIVE SESSION TO DISCUSS PENDING OR POTENTIAL LITIGATION PER RCW 42.30.110(1)(1) (30 MIN.) RECONVENE IN OPEN SESSION ADJOURNMENT Edmonds City Council Agenda July 23, 2024 Page 1 2.1 City Council Agenda Item Meeting Date: 07/23/2024 Report on Construction Bids for the Main Street Overlay Project Staff Lead: Rob English/Ryan Hague Department: Engineering Preparer: Emiko Rodarte Background/History On May 24, 2023, the City Council approved a Professional Services Agreement with KPG Psomas to design the Main St Overlay Project. On February 13, 2024, staff presented this item to the Parks and Public Works Committee. On April 2, 2024, staff provided a project update to the City Council. On July 16, 2024, staff presented construction bids to the Parks and Public Works Committee and it was forwarded to the full City Council meeting for further discussion. Staff Recommendation Reject construction bids received on July 9, 2024 and re -advertise project for construction bids. Narrative The project consists of a full -width grind and a 2" pavement overlay along Main St from 6th Ave to 8th Ave. This project also includes upgrading all noncompliant ADA curb ramps within the project limits and installation of an eastbound bicycle lane. On July 9, 2024, the City received 2 bids for the Main St Overlay Project. Taylor's Excavators submitted the low bid of $1,331,275 and Road Construction Northwest submitted the high bid of $1,583,842. The Engineer's Estimate was $1,202,550. The bids have been tabulated and are attached (see attachment 1). WSDOT required a minimum 16% Disadvantaged Business Enterprise (DBE) contractor participation for this project. Taylor's Excavators listed a non -DBE firm, Middling Construction, Inc., on the DBE Utilization Certification Form, which means that they did not meet or exceed the contract goal. As a result of this, Taylor's Excavators does not demonstrate sufficient DBE participation to meet or exceed the assigned DBE goal. The high bid, submitted by Road Construction Northwest, is much higher than both the Engineer's Estimate and the bid submitted by Taylor's. Staff believe that a more favorable bid climate will exist in late summer and the project would benefit from re -advertising and re -bidding. Packet Pg. 2 2.1 The project costs are being funded by grants from FHWA and TIB, REET (Fund 126), and Stormwater Utility Fund (Fund 422). Attachments: Attachment 1 - Bid Tab Attachment 2 - Area Map Attachment 3 - presentation Packet Pg. 3 2.1.a MAIN STREET OVERLAY PROJECT Fed Aid # STBGUL-2512(010) ENGINEER TAYLOR'S ROAD CONSTRUCTION BIDDER ESTIMATE EXCAVATORS NORTHWEST SCHEDULE A $ 862,500.00 $ 902,890.00 $ 1,019,477.00 ROADWAY SCHEDULE B $ 330,050.00 $ 423,385.00 $ 563,915.00 STORMWATER SCHEDULE C $ 10,000.00 $ 5,000.00 $ 450.00 WARRANTY TOTAL $ 1,202,550.00 1 $ 1,331,275.00 $ 1,583,842.00 Co r Q Bid Opening 7/9/24, 2:15 PM Packet Pg. 4 A I ►\ EL"- m RIMLVA �Uv wj LVA wAil 0 [ �,._ !►_ -)-r,—'c "', -- , I I _awl - t�i � r•if Y i t, � -rr r IW- -wow-1 ..:r - 'ter` ,!• _r • ,•y •H .� . - -,ark.:, �', n !Iw - • , ` / .-: .:. ` ii" •` .. I. < •r1 . Clot• , _ - _ Ii-1 Y { I' — - ')� 1_J__Yi.W `LtY - - _ -'s ,� � .. 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"~ .1(.� All .30 _•►• ` , (- . � } :� � � � � .Y _ irk , ' ago �' ►• roc_ "". �. 1 . j�1" • A 7 3 � d 1 -oO Mai treet Qverlay ,o�M0A mi -A Packet Pg. 61 y Y Scope of Work • Full width grind/pavement overlay • 8 new ADA compliant pedestri ramps • Bulb -outs at intersections with 7th and 8th • EB Bike Lane • Pavement Striping Bid Results Taylor's Excavators* Road Construction Northwest Engineer's Estimate $1,331,275 $1,583,842 $1,202,550 2.1.c Packet Pg. 8 .-fro 0 9.1r: ' •Taylor's Excavators committE at bid time to using 4 DBE subcontractors •Taylor's discovered after bid opening that one of these �.� subcontractors no longerME • DBE requirements and l ` submitted a new form with M this subcontractor no longer listed • WSDOT determined Taylor's be non -responsive due to th incorrect information submitted with the bic' Packet Pg. 9 Recommendation Staff ► ` A A . Reject all bids and re -advertise the project �` `'� • • � r i � r • mot' are It 2.2 City Council Agenda Item Meeting Date: 07/23/2024 Approval of Supplemental Agreement with SCJ for Hwy 99 Revitalization Stage 3 Staff Lead: Rob English/Bertrand Hauss Department: Engineering Preparer: Emiko Rodarte Background/History On October 11, 2022 professional services agreements with SCJ for Highway 99 Stages 3 & 4 were presented to the Parks and Public Works Committee and it was forwarded to full council. On October 25, 2022 professional services agreements with SCJ for Highway 99 Stages 3 & 4 were presented to City Council. On November 1, 2022 the professional services agreements with SCJ for Highway 99 Stages 3 & 4 were approved by City Council. On March 28, 2023, City Council approved the new active transportation recommendations along Hwy 99 and new capacity recommendations at Hwy 99 @ 220th St. SW into the Design phase. On March 19, 2024, a project update was presented to City Council. On June 18, 2024, this supplement was presented to the Parks and Public Works Committee and was forwarded to a future City Council Meeting for presentation and approval. Staff Recommendation Approve supplemental agreement. Narrative The goal of the Highway 99 Revitalization project is to extend the successful transformation of Highway 99 in Shoreline through Edmonds from 244th St. SW to 210th St. SW. Due to the high cost of completing all the other proposed improvements along the corridor, the 2.25 mile stretch was divided into 7 segments. The scope of the Stage 3 segment, from 244th St. SW to 238th St. SW, includes capacity improvements at Hwy 99 at 238th St. SW with the addition of a left turn lane for the northbound movement. A planter strip, bike lane, new sidewalk, new street/pedestrian lighting will be added on both sides of the street, along with utility improvements. The supplement consists of the following additions: Packet Pg. 11 2.2 - Additional roadway and stormwater design work along 238t" St. SW from Hwy 99 to 84t" Ave. W, south of SR-104 interchange, and Complete Streets along the entire corridor; - Additional survey to complete this added work; - Stormwater design changes based on draft 2024 Stormwater Management Manual for Western Washington (Stormwater Analysis and Drainage Memo); - Cost estimating comparison between project with Complete Streets and Original Scope of Work - to be used for future Interlocal Agreement with WSDOT; and - Cultural Resources work that was not included in Original Consultant Agreement. The total cost for this Supplement is $388,571. The initial contract amount for this contract was $3,082,229 for the completion of the design phase (including $154,000 in management reserve) and $135,224 for the start of the right of way phase (for total contract amount of $3,217,053). The revised total agreement amount is $3,606,024. The funding source for this Supplement will be through Connecting Washington State Transportation Funds. Attachments: Attachment 1 - supplemental agreement Attachment 2 - presentation Packet Pg. 12 Adft CPWashington State Department of Transportation Supplemental Agreement Organization and Address Number Amendment 1 Shea, Carr & Jewell, Inc. (dba SCJAlliance) 8730 Tallon Lane NE, Suite 200 Lacey WA 98516 Original Agreement Number LA-10229 Phone: 360-352-1465 Project Number Execution Date Completion Date N/A 12/31 /2026 Project Title New Maximum Amount Payable Highway 99 Gateway - Revitalization, Stage 3 244th St SW to 238th St SW $3,606,024 Description of Work The objective of the Stage 3 project is to design and construct improvements to Highway 99 from 244th St SW to 238th St SW consistent with the Conceptual Plans developed in the Highway 99 Revitalization Stage 1 planning project and the Highway 99 Revitalization & Gateway Stage 2 construction. The scope of work includes new sidewalks, street lighting, crosswalks, improved storm water management, targeted utility replacements, landscaping, a new dual left turn pocket at 238th St SW and potential utility undergrounding. The Local Agency of City of Edmonds desires to supplement the agreement entered in to with SCJ Alliance and executed on 11/01/2022 and identified as Agreement No. LA-10229 All provisions in the basic agreement remain in effect except as expressly modified by this supplement The changes to the agreement are described as follows: Section 1, SCOPE OF WORK, is hereby changed to read: WSDOT has added a Complete Streets element to the project and the City of Edmonds will adopt the new 2024 Ecology manual. This amendment includes those changes, Phase 1 ESAs and work necessary to complete the cultural resources work that was not included in the original contract. 11 Section IV, TIME FOR BEGINNING AND COMPLETION, is amended to change the number of calendar days for completion of the work to read: N/A III Section V, PAYMENT, shall be amended as follows: $388,571 will be added to the contract as set forth in the attached Exhibit A, and by this reference made a part of this supplement. If you concur with this supplement and agree to the changes as stated above, please sign in the Appropriate spaces below and return to this office for final action. By: Scott Sawyer By: Mike Rosen Consultant Signature Approving Authority Signature DOT Form 140-063 Revised 09/2005 Packet Pg. 13 2.2.a Exhibit "A" Summary of Payments Basic Agreement Supplement #1 Total Direct Salary Cost $649,397 $60,690 $710,087 Overhead (Including Payroll Additives) $986,889 $100,862 $1,087,751 Direct Non -Salary Costs $1,365,567 $206,870 $1,572,437 Fixed Fee $215,600 $20,149 $235,749 Total $3,217,453 $388,571 $3,606,024 DOT Form 140-063 Revised 09/2005 Packet Pg. 14 2.2.a t .�►-44110- -440p- .4800.. --dop. -441110- �� SCJ ALLIANCE CONSULTING SERVICES SCOPE OF WORK HIGHWAY 99 GATEWAY -REVITALIZATION PROJECT - STAGE 3 244TH STREET SW TO 238TH STREET SW AMENDMENT 1 CITY OF EDMONDS, WA Prepared For: Bertrand Hauss, Project Manager I City of Edmonds Rob English, City Engineer I City of Edmonds Prepared By: Scott Sawyer, PE I SCJ Alliance (Prime), with: 1. 1 Alliance Geomatics, 1AG (Survey and Right of Way Calculations) 2. Historical Research Associates, HRA (Cultural Resources) 3. Osborn Consulting, OCI (Stormwater) Project Number: 21-P00551 Contract Number: LA-10229 Date Prepared: July 5, 2024 INTRODUCTION Description of Work At the time the original scope of work was written, the objective of the Edmonds Highway 99 Gateway Revitalization Stage 3 project was to design and construct improvements to Highway 99 from 244th Street SW to 238th Street SW consistent with the Conceptual Plans developed in the Highway 99 Revitalization Stage 1 planning project and the Highway 99 Revitalization & Gateway Stage 2 construction. Those improvements included extending the transformation of Highway 99 in Shoreline through Edmonds. The scope of the project included replacement sidewalks, new street lighting, crosswalks with mid -crossing landings where possible, improved stormwater management, targeted utility replacements, a new dual -left turn pocket for NB traffic at 2381" Street SW, potential undergrounding of overhead distribution utilities, landscaping, softscape treatments and other streetscape improvements to speak to the unique character of Edmonds. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work — Amendment 1 June 17, 2024 City of Edmonds Page 1 Packet Pg. 15 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 Since that time, changes have occurred to the nature of the project. WSDOT added a Complete Streets element to the project and the City of Edmonds will adopt the new 2024 Ecology manual. This amendment includes work for those changes including the new complete streets element for the project including roadway and stormwater work along 238th Street SW, roadway and stormwater work south of the SR 104 interchange. Budget for the rest of the work to change the layout of the project from the original intent to the Complete Streets footprint beyond the work associated with 238t" Street SW and South of the SR 104 interchange was funded by the Management Reserve fund as is not included in this amendment. This amendment also includes updates to the stormwater design and reports to account for the 2024 manual update, additional survey work to support this design effort, Phase 1 ESAs, and work necessary to complete the cultural resources work that was not included in the original contract. SCOPE OF WORK Phase 1 Project Management (no change) Phase 2 Funding and Grant Assistance (no change) Phase 3 Survey and Basemapping (1AG) (SC17) Task 1 Survey and Basemapping Beyond Curbs (added work, SC17) Perform survey and base mapping for the project area after receiving the notice to proceed, including the following: 1) Survey Control. (added work SC17) This work includes right of way calculations along 238th beyond the limits of the original contract. This work extends the right of way on the western leg of 238th to the intersection of 84th Ave W. 2) 3D Laser Scanning. (no change) 3) Field Surveying. (no change) 4) Office Processing. (no change) 5) Utility Mapping. (no change) Deliverables • Updated AutoCAD Civil 3D survey base map Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 2 Packet Pg. 16 2.2.a i� SCJ ALLIANCE CON-ING SERVICES Task 2 Survey and Basemapping Between Curbs (no change) Task 3 Survey of Potholing Information (no change) Phase 4 Potholing (no change) Phase 5 Utility Coordination (no change) Phase 6 Geotechnical Engineering (no change) Phase 7 WSDOT Project Development Approval (SCJ) (SC25) Task 1 Combined Design Approval -Project Development Approval (no change) Task 2 Basis of Design (no change) Task 3 Design Parameter Checklist (no change) Task 4 Design Analysis (no change) Task 5 ADA and MEF Documentation (no change) Task 6 Vehicle Turning Exhibits and Channelization Plans for Approval (no change) Task 7 Cost Estimating for Complete Streets vs Original Project Scope (new work, SC25) This task is new to Amendment 1 and was not included in the original scope of work. This task consists of preparing a cost estimate memo for the City that compares the cost of the current project (with Complete Streets) compared to the original scope of improvements (without Complete Streets) to determine the net cost change due to Complete Streets. This task also includes the revision to the 2024 Ecology Stormwater Manual for Western Washington (SWMWW) related to added impervious caused by Complete Streets. This memo will be prepared for the City for their ILA discussions with WSDOT. 1) Develop Method. Prepare a method to generate quantities for the project without Complete Streets that can be subtracted from the total project cost developed for the 30% plan. This task will use an earlier design of the project from before WSDOT added the complete streets to the project and progress that design far enough along to generate quantities. 2) Prepare Estimate. Using Bluebeam, pull quantities from the design completed above. Prepare a new cost estimate for these quantities. 3) Prepare Memo. Compile the information from the previous subtasks into a short (1-2 page) memo that will aid the City in their ILA discussion with WSDOT. Deliverables • Cost Estimate comparison memo (pdf) Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 3 Packet Pg. 17 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 Phase 8 Traffic Analysis (no change) Phase 9 Design Management and Meetings (no change) Phase 10 Transportation Design (SO) (SC14, SC15) Task 1 30% Transportation Plans (no change) Task 2 60% Transportation Plans (added work, SC14, SCIS) 1) Roadway Design — 2381h St SW (SC14). This subtask is updated to include scope for the roadway design along 238th St SW. This includes the work associated with design for a new bike lane on both sides of the street, new sidewalks, new planter strip new curb, new curb ramps, pavement widening, and new driveways. Advance the following sheets to reflect the advancement of the design from the 30% to 60% level and develop plans as noted. • Site Preparation Notes, Plans and Details • Alignment Plans • Right of Way Plans • Channelization Notes, Plans, and Details • Signing Notes, Plans, Schedules, and Details • Illumination Design • Roadway Typical Sections • Paving Notes, Plans, and Details. Develop details for paving transitions and interfaces with private property. • Curb Ramp Plans. Design the grades of the sidewalks and curb ramps to meet WSDOT and ADA standards. Coordinate with the City to gain approval of any curb ramps requiring MEF documentation prior to the submittal. Up to six (6) curb ramps are included. • Driveway Profiles and Details. Coordinate with the City to locate and size driveways per the City development code and to consolidate driveways as needed. Coordinate consolidation with the right of way acquisition team. Advance driveway and property interface grading and develop driveway profiles and details as needed for up four (4) driveways. • Staging Plans. Prepare a staging concept that efficiently constructs this project and is depicted on staging plans. These will not include the identification of Contractor laydown areas. • Traffic Control Plans. Prepare staging concepts and develop traffic control plans for the project. • Pedestrian Control Plans. Prepare pedestrian detour plans needed to construct the project including ADA curb ramps, new sidewalks and driveways, and revised signals. 2) Roadway Design — South of SR 104 Interchange (SC15). This subtask is updated to include scope for complete streets including new sidewalks, bike lanes, landscape strips, curb ramps, and driveway improvements south of the SR 104 interchange. Advance the following sheets to reflect the advancement of the design from the 30% to 60% level and develop plans as noted. • Site Preparation Notes, Plans and Details • Illumination Design • Paving Notes, Plans, and Details. Develop details for paving transitions and interfaces with private property. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 4 Packet Pg. 18 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 Curb Ramp Plans. Design the grades of the sidewalks and curb ramps to meet WSDOT and ADA standards. Coordinate with the City to gain approval of any curb ramps requiring MEF documentation prior to the submittal. Up to six (6) curb ramps are included. Driveway Profiles and Details. Coordinate with the City to locate and size driveways per the City development code and to consolidate driveways as needed. Coordinate consolidation with the right of way acquisition team. Advance driveway and property interface grading and develop driveway profiles and details as needed for up to four (4) driveways. Pedestrian Control Plans. Prepare pedestrian detour plans needed to construct the project including ADA curb ramps, new sidewalks and driveways, and revised signals. Task 3 90010 Transportation Design (added work, SC14, SC15) 1) Roadway Design — 238th St SW (SC14). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 60% to 90% level. 2) Roadway Design -South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 60% to 90% level. Task 4 9501b Transportation Design (added work, SC14, SC15) 1) Roadway Design — 2381h St SW (SC14). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 90% to 95% level. 2) Roadway Design - South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 90% to 95% level. Task 5 100010 Transportation Design (added work, SC14, SC15) 1) Roadway Design — 2381h St SW (SC14). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 95% to 100% level. 2) Roadway Design -South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 2 to reflect the advancement of the design from the 95% to 100% level. Assumptions • There will be no new deliverables not already included in the original contract • The added work in this amendment only applies to south of SR 104 and 238th. While complete streets are required for the whole project, the rest of the work can be incorporated onto sheets that were already scoped for the project. • There will be no additional traffic control sheets for the work south of the SR 104 interchange as that was already included in the original contract • There will be no sheets added to the WSDOT Chan Plan • The work required for WSDOT approvals was already accounted for in the original contract and/or paid for by Management Reserve at the 30% phase of the project. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 5 Packet Pg. 19 2.2.a i� SCJ ALLIANCE CON-ING SERVICES Phase 11 Traffic and Electrical Design (no change) Phase 12 Stormwater Design (OCI) (SC13, SC16, SC28) Task 1 30% Stormwater Management Technical Memorandum (no change) Task 2 Stormwater Analysis and Drainage Report (added work, SC16) 1) Drainage Report (SC16). The stormwater drainage report will follow the 2024 Ecology Stormwater Manual for Western Washington (SWMWW) to meet the project minimum requirements. This triggers additional treatment requirements compared to the 2022 City of Edmonds Stormwater Code Addendum (effective July 1, 2022), which was in the original contract. Stormwater calculations and methodology will be provided per the 2024 Ecology Stormwater Manual for Western Washington (SWMWW). Due to changes in the manual, the project minimum requirement triggers for runoff treatment has changed, leading to potential triggers for treatment in all TDAs. This leads to the following changes to be incorporated in the hydraulic report. • Update area tallies and associated exhibits • BMP Modeling using MGSflood and updating BMP exhibits • Conveyance analysis and design including updating associated exhibits • Additional coordination meetings with the City and City maintenance to discuss stormwater BMP selection • Update cost estimates for BMPs and Stormwater conveyance • Mitigating for existing stormwater BMPs impacted by the project Update the Drainage Report for 60%, 90%, 95% and 100%. 2) Site Visits. (no change) 3) Update TDAs Delineation. (no change) 4) Calculate Area Updates. (no change) 5) Minimum Requirements. (no change) 6) Modeling. (no change) 7) Stormwater Pollution Prevention Plan (SWPPP). (no change) 8) WSDOT Hydraulics Coordination Meetings. (no change) Task 3 30% Stormwater Design (no change) Task 4 60% Stormwater Design (added work SC13, SC28) 1) Stormwater Design — 238th St SW (SC13). This subtask is amended to add work to advance the stormwater design along 238th St SW. This includes the work associated with stormwater design for the addition of a new bike lane, new sidewalks, new curb, new curb ramps, pavement widening, and new driveways. Advance the following sheets to reflect the advancement of the design from the 30% to 60% level and develop plans as noted. • Drainage Plans • Drainage Details Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 6 Packet Pg. 20 2.2.a i� SCJ ALLIANCE CON-ING SERVICES • Drainage Profiles 2) Stormwater Design — South of SR 104 Interchange (SC28). This subtask is amended to add work to advance the stormwater design south of the SR 104 interchange. This includes the work associated with stormwater design for the addition of new sidewalks, bike lanes, landscape strips, curb ramps, and driveway improvements. Advance the following sheets to reflect the advancement of the design from the 30% to 60% level and develop plans as noted. • Drainage Plans • Drainage Details • Drainage Profiles Task 5 9001b Stormwater Design (added work SC13, SC28) 1) Stormwater Design — 238th St SW (SC13). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 60% to 90% level. 2) Stormwater Design - South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 60% to 90% level. Task 6 9501b Stormwater Design (added work SC13, SC28) 1) Stormwater Design — 238th St SW (SC13). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 90% to 95% level. 2) Stormwater Design -South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 90% to 95% level. Task 7 100% Stormwater Design (added work SC13, SC28) 1) Stormwater Design — 238th St SW (SC13). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 95% to 100% level. 2) Stormwater Design - South of SR 104 Interchange (SC15). This subtask is amended to add work to advance the sheets identified in Task 4 to reflect the advancement of the design from the 95% to 100% level. Assumptions • There will be no new deliverables not already included in the original contract • The added work in this amendment only applies to south of SR 104 and 238th. While complete streets are required for the whole project, the rest of the work can be incorporated onto sheets that were already scoped for the project. • A separate drainage report for the work in WSDOT limited access is not anticipated. This work assumes one drainage report. The drainage system is still owned and operated by the City of Edmonds and therefore falls under their MS4. WSDOT will only be interested in a separate report for improvements draining directly to their MS4 which located further downstream. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 7 Packet Pg. 21 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 No infiltration BMPs are proposed on the project per CARA code. Enhanced treatment is already included in the scope per the 2024 Manual. We are not aware of any additional treatment requirements from the CARA code. Phase 13 Water Design (no change) Phase 14 Sanitary Sewer Design (no change) Phase 15 Utility Undergrounding Design (no change) Phase 16 Art, Landscape, and Irrigation Design (no change) Phase 17 Estimate of Probable Cost (SCJ and OCI) (added work SC13-SC15, SC28) Task 1 30% Estimate of Probable Cost (no change) Task 2 60% Estimate (added work SC13-SCIS, SC28) 1) 60% Quantities (SC13-SC15, SC28). This subtask is amended to include work to prepare quantity take offs for the work associated with 238th St SW and South of the SR 104 interchange based on the 60% Plans in BlueBeam and document quantities by sheet. 2) 60% Unit Costs (SC13-SC15, SC28). This subtask is amended to include work to research similar, recent projects and determine unit costs to be used in the estimate for items unique to 238th St SW and South of the SR 104 interchange. Document the source and calculation of each unit cost. 3) 60% Lump Sum Estimates (SC13-SC15, SC28). This subtask is amended to include work to prepare rough lump sum estimates for bid items to be paid by LS for items unique to 238th St SW and South of the SR 104 interchange. 4) 60% Estimate (SC13-SC15, SC28). This subtask is amended to update the estimate spreadsheet based on the above subtasks. Task 3 9001b Estimate (added work SC13-SCIS, SC28) 1) 90% Quantities (SC13-SC15, SC28). This subtask is amended to include work to prepare quantity take offs for the work associated with 238th St SW and South of the SR 104 interchange based on the 60% Plans in BlueBeam and document quantities by sheet. 2) 90% Unit Costs (SC13-SC15, SC28). This subtask is amended to include work to research similar, recent projects and determine unit costs to be used in the estimate for items unique to 238th St SW and South of the SR 104 interchange. Document the source and calculation of each unit cost. 3) 90% Lump Sum Estimates (SC13-SC15, SC28). This subtask is amended to include work to prepare rough lump sum estimates for bid items to be paid by LS for items unique to 238th St SW and South of the SR 104 interchange. 4) 90% Estimate (SC13-SC15, SC28). This subtask is amended to update the estimate spreadsheet based on the above subtasks. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 8 Packet Pg. 22 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 Task 4 95% Estimate (added work SC13-SC15, SC28) 1) 95% Estimate (SC13-SC15, SC28). This subtask is amended to include work to update the estimate spreadsheet for work associated with 238th St SW and South of the SR 104 interchange based on the 95% Plans and 95% Project Manual. Task 5 100% Estimate (added work SC13-SC15, SC28) 1) 100% Estimate (SC13-SC15, SC28). This subtask is amended to include work to update the estimate spreadsheet for work associated with 2381h St SW and South of the SR 104 interchange based on the 100% Plans and 100% Project Manual. Assumptions • There will be no new deliverables not already included in the original contract • The added work in this amendment only applies to south of SR 104 and 238th. While complete streets are required for the whole project, the rest of the work can be incorporated onto sheets that were already scoped for the project. Phase 18 Project Manual (no change) Phase 19 Construction Schedule (no change) Phase 20 Quality Assurance and Quality Control (no change) Phase 21 Assistance During Bidding (no change) Phase 22 Public Involvement (no change) Phase 23 NEPA and SEPA Documentation (SC19) Task 1 NEPA Documentation (no change) Task 2 SEPA Checklist (no change) Task 3 Cultural Resources Reporting (HRA) (revised work SC19, added work SC24) 1) 106 Coordination. (no change) 2) APE Definition (no change) 3) Survey and Inventory (revised work SC19). The following are added to the scope of work for the completion of Subtask 23.3.3. The original contract did not include budget to complete this task. This task is revised to the language below. • Background Research. If required, Consultant will conduct additional background research using Department of Archaeology and Historic Preservation's (DAHP's) Washington Information System for Architectural and Archaeological Records Data (WISAARD) to update the results of background research completed for the Methods Memo. Additional research will be conducted via the HRA library, General Land Office (GLO) maps, U.S. Geological Survey (USGS) maps, Metsker and Sanborn Fire Insurance maps, soils and wetland data, and any other resources deemed appropriate during Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 9 Packet Pg. 23 2.2.a i� SCJ ALLIANCE CONSUL71NG SERVICES the initial investigations to assist with documentation and reporting. Consultant may also consult online resource collections of aerials, photos, and newspapers, as needed. Cultural Resources Inventory (revised work SC19). All work will be supervised by staff who meet the Secretary of Interior's Professional Qualifications Standards for their respective fields (36 CFR Part 61). Prior to initiating fieldwork, an HRA Health and Safety coordinator will prepare a Health and Safety Plan (HASP) to be followed by HRA employees while in the field. The HASP will include reference to HRA's established protocols that meet or exceed local, state, and federal guidelines. (a) Archeological Desktop Analysis- The archaeological study will consist of a desktop analysis for the APE. This research will be used to develop the context and to further develop the probability of identifying archaeological resources within the APE. Due to the entirety of the ADI being disturbed by road and parking lot construction, landscaping activities, and the installation of utilities, no archeological survey of the ADI is planned. Recommendations for whether any further archaeological work, such as targeted monitoring during construction, will be needed will be based on the results of the desktop analysis. (b) Built Environment Survey - Consultant will conduct a built -environment survey, intended to be a first look at historic -period built -environment resources. During the survey, Consultant will record basic information to assess each surveyed resource's potential eligibility for listing in the National Register of Historic Places (NRHP) under all criteria, either individually or as a contributing resource to a historic district. The survey will include a field visit to document the specific location, physical, and architectural features of extant built resources. Multiple photographs and field site sketch maps and plans are prepared as appropriate. Field documentation includes observations about exterior spatial relationships, building materials, construction methods, and integrity. Following survey, Consultant completes built -environment evaluations to DAHP guidelines and evaluates resources based on National Register of Historic Places criteria, Multiple Property Documentation criteria, Historic District criteria, and/or local or state criteria, as appropriate. 4) Cultural Resources Report. The following is added to the scope of work for the completion of Subtask 23.3.4. The original contract did not include budget to complete this task. This task is revised to the language below. Reporting. Consultant will prepare a cultural resources technical report that meets the Washington state standards for cultural resource reporting and incorporates the results of the archaeological desktop analysis and built -environment survey. Minimally, the report will include a DAHP coversheet, management summary, introduction and project description, cultural and environmental context, background research, methods, results of the field investigations, conclusions and recommendations, and an assessment of project effects on historic properties (to the extent possible). The report will also include National Register of Historic Places (NRHP) eligibility recommendations for each surveyed built -environment resource, recommendations for further work (if any), historic property inventory forms (HPIs), and appropriate maps, figures, and photographs. Consultant will submit electronic versions of the draft report for review, one in Word (.docx) and one in Adobe (.pdf) format. Upon receipt of comments, Consultant will provide one (1) revised draft in Word and PDF for review by the City of Edmonds. Consultant will then prepare one final electronic (.pdf) copy of the final documents, inclusive of all appropriate SHPO data (report cover sheet, GIS shapefiles, and resource forms) for the City of Edmonds to submit to DAHP for review and comment. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 10 Packet Pg. 24 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICES Assumptions • The City of Edmonds will be responsible for all consultation with DAHP and the affected Tribes. Teleconferences with the Consultant team, the City of Edmonds, DAHP or other entities will not exceed two (2) hours over the term of the project. All meetings will be virtual. • The APE will be concurred upon by the City of Edmonds, DAHP, and the Tribes in advance of cultural resources fieldwork. If revisions to the APE proposed in the Project's methods memo are required, adjustment to the scope and budget for this cultural resources inventory may be required. • The City of Edmonds, DAHP, and the Tribes will approve the cultural resources inventory methods memo for the project in advance of the fieldwork; if any agency or consulting party requests a revision to the proposed inventory methods, the scope and budget will be revised accordingly. • The archaeological component of this inventory will be limited to a desktop analysis; no archaeological fieldwork will be conducted under this scope of work. • Consultant will record up to 8 historic -period architectural resources. If additional architectural resources are encountered, a scope modification may be required. Deliverables • DAHP Cover Sheet (pdf format) • GIS Shapefiles for SHPO submission • All deliverables included in original scope Task 4 Biological Assessment (no change) Task 5 Hazardous Materials Assessment (HWA) (SC24) 1) Environmental Document Review. (no change) 2) Technical Document Review. (no change) 3) Historical Photo Review. (no change) 4) Visual Assessment. (no change) 5) Evaluate Data. (no change) 6) Prepare Report. (no change) 7) Environmental Site Assessment. (added work SC14). The following is added to the scope for the completion of an environmental site assessment (ESA) for the properties identified in the draft Hazardous Materials Analysis Report. The proposed properties include the following: • 1) NE Village Transmissions addressed at 23710 Highway 99 (an historical address for present day property addressed as 23632 Highway 99 • 2) Dryclean USA addressed at 23632 Highway 99 (Snohomish County tax parcel number 00451900100401) • 3) Silverlake Dry Cleaners addressed at 23830 Highway 99 (tax parcel number 00451900200700) • 4) 7-Eleven addressed at 8101 238th Street SW (tax parcel number 00451900101802). Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 11 Packet Pg. 25 2.2.a i� SCJ ALLIANCE CONSUL71NG SERVICES The project may require partial acquisition of up to 4,000 square feet of portions of these properties that are adjacent to the Highway 99 project area. The partial acquisition areas of these properties are herein referred to as the Subject Property and the full tax parcels associated with the Subject Property are herein referred to as the Parent Parcels. The Subject Property proposed acquisition areas are shown on Attachment 1. The Consultant understands that the City of Edmonds (herein referred to as the City) has proposed acquiring right- of -way (ROW) of portions of several properties adjacent to the Highway 99 — Stage 3 project corridor, but the City would like a modified Phase I ESA conducted only on the proposed partial acquisition properties identified as potential environmental risks (as detailed above). From the information provided, SCJ Alliance and the City are not aware of any previous environmental reports for the Subject Property. The primary objective of a Phase I ESA is to evaluate the Subject Property for obvious evidence of contamination (petroleum or hazardous materials) and/or recognized environmental conditions (RECs), historical recognized environmental conditions (HRECs), controlled recognized environmental conditions (CRECs), and business environmental risks (BERs) as defined in ASTM standard E-1527-21. However, based on the nature of the Subject Property (i.e., partial acquisition of small portions of the Parent Parcels), to accomplish the above -stated objectives, the Consultant proposes the following scope of services, in general accordance with ASTM E-1527-21 but modified slightly based on the nature of the Subject Property: • Conduct Environmental Data Review • Review of previous environmental reports for the Subject Property and/or Parent Parcels, as provided by the client • Conduct agency file review for the Subject Property, Parent Parcels, and/or adjoining properties (if deemed necessary) • Review of historical data • Perform reconnaissance of the Subject Property. Limited reconnaissance of the Parent Parcels will also be conducted with a walking reconnaissance conducted of the publicly accessible interior and exterior areas of the Parent Parcels. • Interview owners/operators, past owners/operators, and/or neighboring property occupants, if necessary, to achieve reporting objectives • Prepare environmental site assessment report The modified Phase I ESA will be performed by HWA staff who, to the best of our professional knowledge and belief, meet the definition of Environmental Professional as defined in §312.10 of 40 CFR 312. These staff have the specific qualifications based on education, training, and experience to assess a property of the nature, history, and setting of the Subject Property. Environmental Data Review The Consultant will begin the data review with an evaluation of available site characterization data. This includes historical information on the property, previous environmental reports for the Subject Property and/or Parent Parcels (as provided by the client), environmental and regulatory information, hydrogeological data, and information on chemical and hazardous wastes which may have been stored or generated on the Subject Property and/or Parent Parcels. More specifically, this records search will focus on the identification of any record of the presence of hazardous substances, underground storage tanks (USTs), or hazardous substance spills. HWA will subcontract a database search firm to review federal, state, and local agency database listings. Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 12 Packet Pg. 26 2.2.a i� SCJ ALLIANCE CONSUL71NG SERVICES HWA will also review selected files for the Subject Property, Parent Parcels, and/or listed adjacent sites available online at the Washington State Department of Ecology (Ecology) Northwest Regional Office. If deemed necessary, an in -person review of Ecology records for the Subject Property, Parent Parcels, and/or listing adjacent sites may be required. HWA will examine the following available records: General and Historical • Site maps and plot plans • Historical and current aerial photos • Historical fire insurance maps, if coverage is available • Historical tax assessor records Environmental / Regulatory Databases • National Priority List (NPL, Superfund sites) • Resource Conservation and Recovery Act (RCRA) treatment, storage and disposal (TSD) sites • Ecology Confirmed and Suspected Contaminated Sites List (CSCSL) • Comprehensive Environmental Response Compensation and Liability Information System list (CERCLIS) • Ecology Leaking UST (LUST) list • Landfills/solid waste disposal sites • Ecology Registered UST list • RCRA Generators & Transporters • Emergency Response Notification System (ERNS) list Geological/Hydrogeological • Types of soils underlying the Subject Property as determined from available geotechnical reports, inspections, soil boring logs, etc. • General direction of groundwater gradient Chemical and Hazardous Waste • Description of production processes and chemicals used or stored on the Subject Property and/or Parent Parcels • Reports of analysis of identified waste streams • Information on discharge points and water resources • Description of uncontrolled releases, spills, or permit excursions Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 13 Packet Pg. 27 2.2.a i� SCJ ALLIANCE CONSUL71NG SERVICES Subject Property Reconnaissance Following the review of available data, the Consultant will perform a reconnaissance of the Subject Property. In addition, a limited reconnaissance of the Parent Parcels that would include a walking reconnaissance of the publicly accessible interior and exterior areas of the Parent Parcels will be conducted. The Consultant will inspect the Subject Property, and publicly accessible areas of the Parent Parcels, to determine if potential sources of contamination exist. Consultant will also evaluate properties adjacent to the Subject Property for potential contamination of the Subject Property from runoff of surface water, erosion, spill overflow or dumping. Consultant will document observed potential problems with photographs for evaluation purposes. This scope of work does not include any specific testing or analysis to determine the presence or absence of any physical, radiological, or biological hazard or condition, including, but not limited to: wetlands, endangered species issues, asbestos containing materials, lead -based paint, lead in drinking water, or radon. Owner / Operator Interviews Consultant may interview current and past owners, tenants and site personnel to obtain information on site material management and operations. Items that may be discussed include: • Current Subject Property use • Past Subject Property history • Material and waste handling practices • Past spill incidents • Physical characteristics of the Subject Property • Use of surrounding properties Report of Findings and Recommendations At the conclusion of this assessment, Consultant will prepare a modified Phase I ESA report describing in detail and presenting our findings, conclusions, and recommendations (if any). The modified Phase I ESA will evaluate if any identified RECs, HRECs, or CRECs regarding the Subject Property, Parent Parcel, or an adjoining/nearby property could pose a potential threat to the soil or groundwater quality and/or a vapor intrusion concern for the Subject Property. Consultant will reduce and present data obtained during the investigation as well as pre-existing data in an easily understandable format. Consultant will prepare site maps in order to aid in site evaluation. Assumptions During the Phase I ESA process, Consultant will provide the City of Edmonds with an ASTM Standard User Questionnaire for Phase I ESA, that will need to be completed by the City of Edmonds. The questionnaire will cover the items summarized below. o Any specialized knowledge or experience of the City, the Subject Property or surrounding areas that is material to RECs in connection with the Subject Property must be documented or taken into account during the inquiries. o The ASTM E-1527-21 standard requires the City to consider whether any significant difference Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 14 Packet Pg. 28 2.2.a i� SCJ ALLIANCE CON-ING 5ERVICE5 between the purchase price and the fair market value (if property were uncontaminated) is due to RECs. o Consultant will acquire records of title reports, environmental cleanup liens, or activity and use limitations (such as engineering and institutional controls) on the Subject Property recorded under federal, state, local or tribal laws. • City will provide the following additional information for the modified Phase I ESA, that may not be required to seek liability protection under CERCLA: o Subject Property address, legal description, tax parcel number, etc. o Subject Property owner and operator contact and access information o Reason for conducting the modified Phase I ESA. If none is given, we will assume it is to seek landowner liability protection under CERCLA, and we will state so in the report. o Type of property o Type of transaction (e.g., sale, purchase, exchange, etc.) o Whether any parties to the property transaction have specific requirements of the scope of the modified Phase I ESA o Identification of all parties who may rely on the modified Phase I ESA report o Any previous existing environmental data, e.g. other Phase I or II ESA's or other relevant reports, documents, correspondence, etc. Deliverables Modified Phase 1 ESA (pdf) Site Map (pdf) Phase 24 Permitting (no change) Phase 25 Right of Way Calculations (no change) Phase 26 Right of Way Plans (no change) Phase 27 Right of Way Acquisition Design Support (no change) Phase 28 Right of Way Acquisition (no change) Phase 29 Management Reserve (no change) END of SCOPE OF WORK Edmonds_Hwy99 Stg3_amendmentl_2024-0529.docx Highway 99 Gateway -Revitalization Project Stage 3: Scope of Work- Amendment 1 July 5, 2024 City of Edmonds Page 15 Packet Pg. 29 2.2.a Consultant Fee Determination Summary- Exhibit D-1 SCJ Alliance Client: City of Edmonds Project: Highway 99 Gateway - Revitilization Stage 3 Job#: 21-000551 File Name: Stage 3 Amendment 1 update.xlsm Consultant Fee Determination DIRECT SALARY COST Classification Principal PM2 Project Manager PM2 Project Manager E3 Engineer El Engineer El Engineer T1 Technician OVERHEAD Overhead Rate: FIXED FEE Fixed Fee Rate: TOTAL SALARY COST SUBCONSULTANTS 1AG CIO OCI OCI HRA HWA REIMBURSABLE EXPENSES Hours Direct Hourly Rate 62.0 $100.98 106.0 $70.00 66.0 $60.10 282.0 $44.00 428.0 $38.11 228.0 $37.00 256.0 $23.00 166.19% Direct Salary Cost: $60,690.44 33.20% Direct Salary Cost: $60,690.44 PHASE 03 Phase 07b PHASE 12 PHASE 17b PHASE 23a PHASE 23b Subconsultant Fee Subtotal: Subconsultant Markup: $0 0% SCJ ALLIANCE Template version: 2/2/2024 Contract Type: LAG Contract Amount $6,260.76 $7,420.00 $3,966.60 $12,408.00 $16,311.08 $8,436.00 $5,888.00 Total Direct Salary Cost $60,690.44 Overhead Cost $100,861.44 Fixed Fee Cost $20,149.23 Total Salary Cost $181,701.11 Survey and Basemapping (1AG) (SC17) WSDOT Project Development Approval (OCI) (SC25) Stormwater Design (OCI) (SC13, SC16, SC28) Estimate of Probable Cost (OCI) (added work SC13, SC28) NEPA and SEPA Documentation (HRA) (SC19) NEPA and SEPA Documentation (HWA) (SC24) Copies, Printing, etc. 0.0% of the Direct Salary Costs Phase 1 ESA Reports Title Reports, Environmental Clean up Liens, Activity Use Limitations Mileage 0 miles at $0.670 per mile Expenses Subtotal: Expenses Markup: 0% SUBTOTAL (SALARY, SUBCONSULTANTSAND EXPENSES) Subtotal (Salary, Subconsultants and Expenses) MANAGEMENT RESERVE FUND (MRF) $4,246 $14,302 $145,418 $6,796 $19,213 $15,500 $205,475.19 $0.00 $0.00 $1,395 $0.00 $1,395.00 $0.00 $389,571.30 Management Reserve: $0 $0.00 Total Estimated Budget: $388,571.30 7/11/2024 Packet Pg. 30 a r z U� N M m w 0 = E X � m � 3 N V C m O � a E m o o L d m no V x N in G1 C f0 N u a` S m r Y N O c O c m v co v J Z 41 a C O C •� C � m � y3j ro `o a N � N O 3 0 o= c 'u L u H N F v c UO '-I W N v c C W '-I W N c M W V W O b0 a` c 22 IL u W W O 1 C4 CCc G C o. a C a` Z CA U v 1N 16 V OL iZ- � a a " d c a Q O a w A > y G Y m G7 Ip C Q. a` o2f `0 � In 0 cs Z �, a L=n en m aa O O 61 Z W O N Y (n W s a a fA a ~ a a O 0 o O C0 0 0 m o 06 o m ui 00 O 00 O O O O O 00 N N N W 00 Ot 0 0 0 o r 0 N V} CD O 0 0 0 O 0 1p m N 0 O O O O O o O N 00 O O O O O 0 O N N N to lD Olo c-I N O j O ? 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V L V L 7 0 L N r L L L O o o — 0 N C Vl Vf m N m N N L CD O L L V01 L Vf d t6 C N 3 W b.0 00 0 c-I 16 O N N m N L O C 01 to 00 L C C C VOl C d 0_ u 0 CL N O M �,�yy , O 0 CL C C CL N W N N � � Z a O u o > = N in N o_ = O u o N a O N N in N o_ Q L u bD in 0 N N z O a" 00 c-I --I cm -I ct Ln 10 r, 00 N •--I N M 7 V1 a � ~ 2.2.a Packet Pg. 35 GI ► z U� N M N m N w C X � 3 N V C N w O � a E ' w 4 m no V x N in w C f0 Z {j w VI u o a` a w S Lo � N � � Vy .y O O O O O O O O O O W W a; o o= � W " o 0 O O C s O O O O W 10 O C U V N N tD W 8m M N e•I H C O T N N O O m p O O O O O T 7 N N 7 N O O � 'C W M - a N v o N m m o 0 0 0 o O o o O G0 W N c-j O W � to C W N O O O p O N O N O N O N O N O N O N ON O 004 C W pip Q Q W o W � W O O O p N A (U Q a C • u W O C A O b0 O O N A O C N W V31 m N a VmT` `w 3 m a •� O o O O O O O O 0 C W u In d ? j O O O la 2 is = v u O � � a � o v 0 F- 6 a m 0 H L 0 O N L L O V N N N p 0 L j >�00 O 0 00 L L Q O L V1 N L N V1 N M V1 O L 0 0 V0 1 = 1 V0 R d N O N O a c a o cy 0 0 0 O ~ c o C U l7 0 0-cp o L 30 co a o S U 0 c m m d O. E Q ^ Q E m c g Oi ac E ncn 3 m c v m c 3 R ¢ � a � u o = .� �n a = u' o a N Z aN O r 00 Q1 C, c�-I aN-I cm -I a1:T-I Ln 10 c^-I 00 a 2.2.a Packet Pg. 36 GI r z U� N M w 0 •� X o: m � 3 M N W O � a E N o o t W m tlq ei V i N in G1 C f0 {j m VI u o a` a w S `o � N � V i �o 0 �o .`n- v v 00 O 3 0 o= Y OJ O C C O O O O O O o O O O m m u H V LO F C U1 � � O O O O O O w Z tD o lo to o W O w W W a v � 'no o io 0 io 0 to 0 io O � W W to y L 4, 2C O O O O O O W o0 N W N C W W � N y a m o 0 0 0 0 0 N A rl ci N c-I r-1 N o N Q a C u W z NA a O O O O O O O o o o m N N 00 V c-I N w H a `w > mQ m o 0 0 0 C N N N N O In O. 3 O o O c O 4 O N m O Q 3 N v a v N Y W O uLn 3 `° °1a Z _ v v I F' 0 O 3 O 3 v a v 0o m E E F= v o jp O vI w p� f 0 .N 'E Y .� �- E a C3 E G W Cf J W W i7 7 J W o o 0 0 o o o 0 o 0 0 •L' d •+ V) W O l0 O lD O ID O lD O tD O 01 O Ol O Ol O 01 O 01 ra Z W ~ O O Nu Y V) Lu 2.2.a Packet Pg. 37 GI 7z U� N M M w c O X � T a m 3 � M m v � E CO C N d 4 m tlq ei V x N in N C f0 Z Lo � N 00 V 7 v i o O a)m CD o N 12 N o = W r •� o O Y N O C C O O O O O O C U N N N N od W O [O m N N e•I H � O N N O O O O O O O p W N N N N O O w W M N w = o no c W O ti o O O O of m v 0 ❑ rl W N L} to G C O 4 O O O O C W CO 00 00 W M N Q Q W Ol y O y a m o 0 0 0 0 0 `p N r-i _; r-i c-i tG t0 m a 2 Q a u O O C . C m W O w O O O O O O A as 7 7 N oo t0 H m ccm G C a N `w T m c NQ o 0 0 0 0 °�° C N N N N 07 O W O to d 3 O O O O Q _ 6 m c 2 u 0 N o N f0 L N Q N O H m d O F N V H m V O U IRfA v a Q vVi t_o 2 2 a Y Q a+ �+ O fa O 3 _ _ N V E E a u N u u s m m C G a a Y V a tA tA o a m v w ❑ p� E !0 £ - Y .01. _ _ ra W ' W N f0 E O Q m Q p 0 o O O t o W a W d cn 0o1 W Z Z .0 O .0 r O y Z O O rl 14 N N 8 Y N ti N ti W W W ~ ~ a x x x a a a 2.2.a Packet Pg. 38 2.2.a � f \ 0 @ i co < §£ z /� 2 f \ _ « / - § \ \ / .0 CL §; y 5\ f @ } ( § co{ ( \ \ J \ ) z z u o G a 4 n3r a 2 - ® � Packet Pg. 39 2.2.a HISTORICAL RESEARCH ASSOCIATES, INC. Scope of Work: Edmonds Hwy 99 Gateway - Revitalization Stage 3, Cultural Resources Survey Historical Research Associates, Inc. (HRA), is pleased to submit the following scope of work (SOW) and cost proposal to Shea, Carr & Jewell, Inc., dba SCJ Alliance (SCJ) to provide cultural resources investigations in support of the City of Edmonds (the City) Hwy 99 Gateway -Revitalization Stage 3 project (the Project). This phase of work will rely on the results of initial background research conducted for the methods memo previously prepared for Stage 3 of the Project. The Project is on public land within Edmonds, Washington and will require partial acquisition of eighteen Snohomish County private parcels. The Project relies on state and local funding. No federal funding or permitting is expected. The Project is therefore subject to Governor's Executive Order 21-02, which requires that proponents consider the potential impacts to cultural resources associated with their State -funded projects. In addition to Governor's Executive Order 21-02, the State of Washington requires compliance with the cultural resources laws and regulations under the Revised Code of Washington (RCW) 27.53 Archaeological Sites and Resources, RCW 27.44 Indian Graves and Records, and RCW 68.50.645 Skeletal Human Remains —Duty to Notify. The area of direct impacts (ADI) is approximately 7.92 acres, and the area of potential effects (APE), inclusive of the ADI, is approximately 36.30 acres. The following details the tasks, assumptions, and schedule based on HRA's current understanding of the project. Task 1. Project Management Project management includes those items necessary for completion of tasks such as project setup and closeout, internal and client planning meetings and communications, review of invoicing, and updates on progress to the client. HRA values open communication with our clients, which is essential to establishing and meeting expectations throughout a project. Task 2. Background Research If required, HRA will conduct additional background research using Department of Archaeology and Historic Preservation's (DAHP's) Washington Information System for Architectural and Archaeological Records Data (WISAARD) to update the results of background research completed for the Methods Memo. Additional research will be conducted via the HRA library, General Land Edmonds Hwy 99 Gateway -Revitalization Stage 3, Cultural Resources Survey April 22, 2024 The prices and schedule of this SOW expire after 30 calendar days. Packet Pg. 40 2.2.a Office (GLO) maps, U.S. Geological Survey (USGS) maps, Metsker and Sanborn Fire Insurance maps, soils and wetland data, and any other resources deemed appropriate during the initial investigations to assist with documentation and reporting. HRA may also consult online resource collections of aerials, photos, and newspapers, as needed. Task 3. Cultural Resources Inventory All work will be supervised by staff who meet the Secretary of Interior's Professional Qualifications Standards for their respective fields (36 CFR Part 61). Prior to initiating fieldwork, an HRA Health and Safety coordinator will prepare a Health and Safety Plan (HASP) to be followed by HRA employees while in the field. The HASP will include reference to HRA's established protocols that meet or exceed local, state, and federal guidelines. Archaeological Desktop Analysis The archaeological study will consist of a desktop analysis for the APE. This research will be used to develop the context and to further develop the probability of identifying archaeological resources within the APE. Due to the entirety of the ADI being disturbed by road and parking lot construction, landscaping activities, and the installation of utilities, no archaeological survey of the ADI is planned. Recommendations for whether any further archaeological work, such as targeted monitoring during construction, will be needed will be based on the results of the desktop analysis. Built -Environment Survey HRA will conduct a built -environment survey, intended to be a first look at historic -period built - environment resources. During the survey, HRA will record basic information to assess each surveyed resource's potential eligibility for listing in the National Register of Historic Places (NRHP) under all criteria, either individually or as a contributing resource to a historic district. The survey will include a field visit to document the specific location, physical, and architectural features of extant built resources. Multiple photographs and field site sketch maps and plans are prepared as appropriate. Field documentation includes observations about exterior spatial relationships, building materials, construction methods, and integrity. Following survey, HRA completes built -environment evaluations to DAHP guidelines and evaluates resources based on National Register of Historic Places criteria, Multiple Property Documentation criteria, Historic District criteria, and/or local or state criteria, as appropriate. Task 4. Reporting HRA will prepare a cultural resources technical report that meets the Washington state standards for cultural resource reporting and incorporates the results of the archaeological desktop analysis and built -environment survey. Minimally, the report will include a DAHP coversheet, management summary, introduction and project description, cultural and environmental context, background research, methods, results of the field investigations, conclusions and recommendations, and an Edmonds Hwy 99 Gateway -Revitalization Stage 3, Cultural Resources Survey April 22, 2024 The prices and schedule of this SOW expire after 30 calendar days. Packet Pg. 41 2.2.a assessment of project effects on historic properties (to the extent possible). The report will also include National Register of Historic Places (NRHP) eligibility recommendations for each surveyed built -environment resource, recommendations for further work (if any), historic property inventory forms (HPIs), and appropriate maps, figures, and photographs. Deliverables HRA will submit electronic versions of the draft report for review, one in Word (.docx) and one in Adobe (.pd� format. Upon receipt of comments, HRA will provide one (1) revised draft in Word and PDF for review by WSDOT. HRA will then prepare one final electronic (.pd� copy of the final documents, inclusive of all appropriate SHPO data (report cover sheet, GIS shapefiles, and resource forms) for WSDOT to submit to DAHP for review and comment. Final Deliverables: 1 electronic copy in Adobe (.pd� format 1 DAHP cover sheet in Adobe (.pdf format GIS shapefiles for SHPO submission Schedule HRA will begin background research within ten business days of receipt of a fully executed contract (i.e., notice to proceed [NTP]). HRA will begin the field investigations within ten business days of completing additional background research. A draft report will be completed within 30 business days of completion of the field investigations. HRA will submit revised reports within ten business days of receiving comments on the drafts. Cost and Assumptions o L HRA's total cost for tasks outlined in this scope of work (SOW) is $19,213, to be billed on a time a and materials basis. Please see the attached budget. -- HRA's cost proposal is made with the following assumptions in mind, deviations from which may c d require a scope or cost modification: L • The project will be completed before July 2024. WSDOT rates are adjusted at the end of the M fiscal year; therefore, if the project extends past the fiscal year, a cost modification will be required pending receipt of revised WSDOT rates. E • This cost estimate and schedule is valid for up to 30 days. Any delays in accepting the bid and d a executing a contract could result in changes to the cost estimate and schedule. N • WSDOT will be responsible for all consultation with DAHP and the affected Tribes. IL Teleconferences with SCJ, WSDOT, DAHP or other entities will not exceed two (2) hours over E the term of the project. All meetings will be virtual. • The APE will be concurred upon by WSDOT, DAHP, and the Tribes in advance of cultural R a resources fieldwork. If revisions to the APE proposed in the Project's methods memo are d E t Q Edmonds Hwy 99 Gateway -Revitalization Stage 3, Cultural Resources Survey April 22, 2024 The prices and schedule of this SOW expire after 30 calendar days. Packet Pg. 42 2.2.a required, adjustment to the scope and budget for this cultural resources inventory may be required. • WSDOT, DAHP, and the Tribes will approve the cultural resources inventory methods memo for the project in advance of the fieldwork; if any agency or consulting party requests a revision to the proposed inventory methods, the scope and budget will be revised accordingly. • SCJ will provide a text description of the project for HRA to use in the report. • The archaeological component of this inventory will be limited to a desktop analysis; no archaeological fieldwork will be conducted under this scope of work. • Built -environment field investigations may necessitate special accommodations to ensure the health and safety of our staff, including requiring staff to travel in separate vehicles, providing appropriate cleaning supplies for equipment, and enacting protocols and procedures by the Field Director and HRA's Health and Safety Manager. HRA reserves the right to delay field investigations for a reasonable amount of time due to health and safety -related impediments beyond our control, for example, extreme weather, mandates restricting travel, or outbreaks of contagion in the project area that put our staff at elevated health and safety risks. HRA will remain in close contact with SCJ throughout the fieldwork planning and execution stages to ensure any potential delays are communicated early, thoroughly, and with complete transparency. • HRA will record up to 8 historic -period architectural resources. If additional architectural resources are encountered, a scope modification may be required. Edmonds Hwy 99 Gateway -Revitalization Stage 3, Cultural Resources Survey April 22, 2024 The prices and schedule of this SOW expire after 30 calendar days. Packet Pg. 43 2.2.a u II U) W Q U O uu � S Q :) 2E4 Q V N = � W w LV C u W U c LPL LC N L J z a LL c.> O F_ U) 2 J f� tO�OLO LO IO /T� MMN hN 000 No : NM!9 LOM gyp,. 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JQ i S 90•1v ON 0MO 33S d ViS 66 dS 3NIl HOVA r N !Z a` U (U :5 N (0 Q Y rn L _Ql 09+0Z� V ViS 6 8S 3NIl HO1HW 4L ow3� ozo� aN� Packet Pg. 48 I 2.2.a I JCl W Q s s W z ti N Cl) Z O U LL.I o $ J� q§ z F 3 e 8 o z w r O WW H W p LO•IV ON 9M0 338 00+0£6 V V1S 66 dS 3NIl H3iVW 90-1V ON 9M0 33S 09+bZ 6 V V1S 66 HS 3NIl HOlVW I Packet Pg. 49 Wwft # ,dsj a -- 46 I� 'Z Highway 99 Reviltalilzat'iodn� Stage 3 of Supplemental Agreement with SO July 23, 2024 City Council Meeting 2.2.b EDP �j0"I" rPaMcket Pg. 50 '• Elements of the Supplement w F Agreement =- • Consultant Contract Cost • Schedule __ - -- _- --Questions i Introduction ■ 210th St SW 11 E 1"=300' STAGE 5 216 'S roA l" 238th St 7 STAGE 220th St SW STAGE 4 STAGE j STAGE 7 A,T 236th. St SW r ci 4, Lake Ballinger SR 104 CITY OF EDMONDS HIGHWAY 99 GATEWAY -REVITALIZATION STAGES 1-9 • Additional roadway and stormwater design work along 238th St. SW from Hwy 99 to 84th Ave. W, south of interchange, and Complete Streets along the entire corridor (recent scope of work additions) • Additional survey to complete this work • Stormwater design changes based on DRAFT 2024 Stormwater Management Manual for Western Washington (Stormwater Analysis and Drainage Memo) • Cost Estimating comparison between project with Complete Streets and Original Scope of Work (to be used for future Interlocal Agreement with WSDOT) • Cultural Resources (not in original agreement) �A $3,217,453 Funding Source Cost $388,571 $3,606,024 • Connecting Washington State Transportation Funds 2.2.b c a� E as a 0_ Cn 0 E 0 L Q Q Packet Pg. 54 2.2.b STAGE 3 F I F9qE I PRELIMINARY DESIGN FINAL DESIGN T ENVIRONMENTAL RIGHT OF WAY WE aRE Nske CONSTRUCTION E CL O E 0 CL CL Packet Pg. 55 c m E m a Cn w 0 �a 0 L a a Q T C 0 M tF,uest*ions .w i L a N C E s 0 �a w Q c as E t 1 0 _ a Packet Pg. 56 2.3 City Council Agenda Item Meeting Date: 07/23/2024 Municipal Employees Benefit Trust (MEET) Updates Staff Lead: Emily Wagener Department: Human Resources Preparer: Emily Wagener Background/History The Municipal Employee's Benefit Trust (MEBT) is a defined -contribution retirement savings plan (401 a) with mandatory participation requirement. MEBT was started by the City of Bellevue in 1972 and currently includes 8 entities (Bellevue, Edmonds, Federal Way, Kirkland, Mill Creek, Redmond, Woodinville and NORCOM.) Employees who are enrolled in MEBT cannot also be enrolled in Social Security. The City contributes to MEBT what it would have paid to Social Security. These contributions are allocated to participants based on their match -eligible contributions. Participant contributions and the City's contributions and earnings/losses are held in an account in the participant's name, and any earnings on the account grow tax deferred. At retirement or separation of employment, participants receive their vested account balance. Each entity's MEBT Plan is managed by an individual Plan Document and a Committee. The City of Edmonds committee is made up of four employees from different city departments elected by employees. There are also two appointed positions on the MEBT Committee. Investments are Jointly managed by the MEBT Board and quarterly meetings take place throughout the year to discuss MEBT's performance, attended by the MEBT Committee Chair. Eligibility for MEBT currently includes the following: Regular status employee (defined in the Employer's Personnel Policies, as amended) working a minimum of 1,000 hours per year. City Council Member. The City's MEBT plan currently has a seven-year vesting schedule for employer contributions, with few exceptions, as follows: After 12 months: 10% Each additional month: +1.25% (15% per year). After 7 years: 100%. Exceptions: Participants become 100% vested if they die, become disabled or are laid off while employed by the City OR if they reach their Normal Retirement Date while employed. Note: Edmonds does honor months of service with a previous MEBT Plan so long as the previous account balance is rolled over in full (excluding amounts not eligible). Staff Recommendation Approve the proposed changes to the MEBT Vesting Period and Voluntary Participation for Limited Term Employees. Packet Pg. 57 2.3 Narrative Along with providing a general summary of the MEBT Plan, we are seeking confirmation/approval of the following MEBT Committee Actions. Allow Voluntary Participation in MEBT For Limited Term Employees At the May 7, 2024 MEBT Committee meeting the committee voted to provide the option for voluntary participation in MEBT for Limited Term Employees whose work assignment is expected to last longer than five months upon hire. This change was unanimously approved by all committee members. The City of Kirkland also allows Limited Term Employees the option to enroll in their MEBT plan. This would result in additional benefit eligibility for Limited Term Employees. Employees enrolled in MEBT are also eligible for related Life Insurance and Long -Term Disability (LTD). Contributions for these benefits are built into the Employee and City's contribution amounts. This does not result in an additional cost to the City. The City contributes an equivalent amount of up to 6.2% to either MEBT/LTD or Social Security, depending on the employee's benefit eligibility. If approved, voluntary participation for Limited Term Employees would take effect as soon as our Plan Document is updated and will be offered to all existing and future limited term employees. Approve a Reduction in Vesting from Seven Years to Three Years At the May 7, 2024 MEBT Committee meeting the committee voted to recommend to Council that the vesting period be reduced from seven years to three years with a schedule that matches Bellevue. Both Bellevue and Kirkland's MEBT plan allows for a three-year Vesting period. This change does not result in an additional cost to the City. The City would continue to contribute to MEBT and provide related Life Insurance and Long -Term Disability benefits at the same rate of 6.2%. The City is required to withold and transmit the full deduction/benefit to our recordkeepers, Northwest Plan Services (NWPS). Contributions must remain in the MEBT account regardless of the participant's vesting status. This change would likely affect forfeitures, which is the amount not vested when an employee separates. Forfeitures are combined with the employer contribution and allocated to remaining participating employees. With a lower vesting period it is expected there would be fewer forfeitures resulting from employee separations. If approved, the three-year vesting schedule would take effect as soon as our Plan Document is updated and will apply to all existing and future employees actively enrolled in the plan. It would not be effective retroactively for any employees separated employment prior to the change. Attachments High Level MEBT Plan Summary UBS Flash Report April 2024 - Total Portfolio MEBT Performance Return Graphs Attachments: High -Level MEBT Plan Summary MEBT Flash Report as of 04.30.2024 MEBT Performance Return Graphs Packet Pg. 58 2.3.a MEBT Plan Summary.docx Document High -Level Summary of the MEBT Plan Summary Document Explanation of Trust The Municipal Employees' Benefit Trust (MEBT) officially began in the City of Bellevue, WA, on October 1, 1972. The Trust was created to manage the assets of the employee retirement benefit Plans (the Plans) of certain cities in the State of Washington. Each of the Cities withdrew from or elected not to participate in coverage under the Social Security Administration. MEBT is governed by a five -member leadership body appointed by the Bellevue City Manager. MEBT investments total approximately $1 Billion (a/o 3/31/24) for its 5,800 members in the entities of Bellevue, Edmonds, Federal Way, Kirkland, Mill Creek, Redmond, Woodinville and NORCOM. Although the investments are jointly managed by the MEBT Board, each City has its own individually designed Plan document, which governs its participation, contributions and disbursements. Introduction to the MEBT Benefit Plan The document provides a comprehensive overview of the Edmonds Municipal Employees' Benefit Trust (MEBT) Plan, designed to help employees of the City of Edmonds understand their retirement savings options. This plan is especially significant as the City of Edmonds does not participate in Social Security, making MEBT a critical component of employees' retirement planning. Key Components of the MEBT Benefit Plan Retirement Savings Options o State of Washington Pension Plans: Employees participate in a defined benefit pension plan based on job role and hire date. o MEBT 401(a) Plan: Mandatory participation for all eligible employees, with the City making contributions that are partially matched based on employee contributions. o Section 457 Deferred Compensation Plan: Optional contribution plan where taxes on contributions are deferred, but there is no matching contribution from the City. 2. Plan Structure and Contributions Defined Contribution Plan: MEBT is a retirement savings plan where benefits are based on the contributions made by the employee and the City, along with investment performance. City Contributions: Instead of Social Security contributions, the City allocates funds to MEBT based on what it would have paid to Social Security. Historically, the City has matched about $0.90 for every $1 contributed by employees. Vesting Schedule: City contributions vest over time, reaching full vesting after seven years of service. Packet Pg. 59 2.3.a 3. Eligibility and Participation o Eligible Participants: Regular status employees working a minimum of 1,000 hours per year and City Council members are eligible. o Enrollment: Automatic upon meeting eligibility criteria, with contributions starting shortly after enrollment. 4. Investment and Account Management o Investment Options: Contributions are managed by professional investment managers under the direction of the MEBT Trust Committee, ensuring a diversified portfolio. o Account Growth: Contributions and earnings grow tax -deferred until withdrawn. 5. Distributions and Withdrawals Separation from Service: Upon retirement or leaving employment, participants receive their vested account balance, which can be distributed through various methods. o Hardship Withdrawals: Employees facing severe financial hardship may qualify for withdrawals from their MEBT account under specific conditions. 6. Special Features Lack of Social Security Participation: The City does not participate in Social Security for those eligible for MEBT, so those employees do not earn Social Security credits while working for the City. Instead, MEBT serves as the primary retirement savings vehicle. Life Insurance and Disability Benefits: MEBT includes provisions for life insurance and long-term disability benefits, with premiums paid through after-tax contributions to ensure tax-free benefits to beneficiaries. 7. Administrative Details and Legal Information o Plan Governance: The document clarifies that while the MEBT Plan is intended to be maintained indefinitely, the City reserves the right to amend or discontinue the plan. o Non-ERISA Plan: As a governmental plan, MEBT is not subject to the Employee Retirement Income Security Act (ERISA). 8. Additional Resources The document directs participants to the MEBT website for more detailed information, including account balances, investment performance, and committee meeting schedules. Conclusion The Edmonds Municipal Employees' Benefit Trust (MEBT) Plan offers a robust and tailored retirement savings solution for employees of the City of Edmonds. Given the City's decision not to participate in Social Security for those eligible for MEBT, MEBT plays a vital role in ensuring that employees have a secure financial future upon retirement. Key Takeaways: 1. Critical Retirement Tool: MEBT serves as the cornerstone of retirement planning for City of Edmonds employees, compensating for the lack of Social Security benefits. Packet Pg. 60 2.3.a Through MEBT, employees can build a significant retirement nest egg supported by both personal and City contributions. 2. Flexible and Beneficial Contributions: The plan allows for both mandatory and voluntary contributions, with the City matching a substantial portion of employee contributions. This match, historically about 90%, enhances the growth potential of employees' retirement savings. 3. Professional Management and Diversified Investments: MEBT funds are managed by professional investment managers under the guidance of the MEBT Trust Committee, providing a diversified and balanced investment strategy aimed at growing participants' assets over time. 4. Comprehensive Coverage: Beyond retirement savings, MEBT includes important benefits such as life insurance and long-term disability coverage, ensuring employees and their families are protected in various scenarios. 5. Vesting and Withdrawal Options: The plan offers a clear vesting schedule and multiple options for accessing funds upon retirement or in case of financial hardship, providing flexibility to meet participants' diverse needs. 6. Resource and Support Availability: Employees have access to a wealth of resources through the MEBT website and service center, offering detailed information on account management, investment performance, and plan governance. Jesse Curran MEBT Committee Chair Packet Pg. 61 Period Ending: April 30, 2024 Monthly Flash Report - Total Portfolio Municipal Employees' Benefit Trust Presented by: Trent Sanden, CIMAO Managing Director - Investments Senior Institutional Consultant Email: trent.sanden@ubs.com Contact: 206.628.6501 Jeremy Yanasak, CIMAO Vice President - Wealth Management Senior Institutional Consultant jeremy.yanasak@ubs.com 206.628.6543 UBS Institutional Consulting Group - Northwest UBS Financial Services Inc. 925 4th Avenue, Suite 3100 Seattle, WA 98104 Toll Free: 800.905.5574 Fax: 855.299.1240 Please contact your UBS Institutional Consultant if you have any questions regarding this report, if your financial situation, individual needs or investment objectives have changed, or if you would like to initiate or modify any investment restrictions on this account. This report is provided for informational purposes only. The information shown was obtained from sources believed to be reliable, the accuracy of which is not guaranteed. Account statements provided by UBS or other financial institutions are the official record of your holdings, balances, transactions and security values and are not amended or superseded by the information in this report. Information is current as of the date shown. Past performance is no guarantee of future returns See IMPORTANT INFORMATION for assumptions and limitations of the analysis in this report risk considerations, valuation, fees and other details regarding this report. For historical primary index information, see Benchmark Comparisons Used in this Report Packet Pg. 62 2.3.b Municipal Employees' Benefit Trust - Flash Report Period Ending April 30, 2024 Performance Summary N a� w 04/2024 Actual Minimum Target Maximum 04/2024 YTD Q. Market Value Allocation Allocation Allocation Allocation Return Return H w FTSE 3 Mo TBill -- -- -- -- -- 0.45% 1.83% Cash - MF Account $37 0.00% 0.00% 0.00% 3.00% 0.00% 0.00% r FTSE 3 Mo TBill -- -- -- -- -- 0.45% 1.83% L H PIMCO Short Asset Investment Fund (MF) $9,192,615 0.96% 0.00% 1.00% 3.00% 0.54% 2.16% FTSE 3 Mo TBill -- -- -- -- 0.45% 1.83% c m m 81 % BB US Agg/ 19% ICE Boa HY -- -- -- -- -- -2.17% -2.42% m p PIMCO Total Return (MF) $72,137,056 7.52% 7.25% 8.05% 8.86% -2.53% -2.55% a E Bloomberg US Agg -- -- -- -- -- -2.53% -3.28% w DoubleLine Total Return Bond (MF) $70,313,087 7.33% 7.25% 8.05% 8.86% -2.47% -2.66% 5- Bloomberg US Agg -- -- -- -- -- -2.53% -3.28% .2 Prudential Total Return (MF) $72,824,298 7.59% 7.25% 8.05% 8.86% -2.40% -2.30% Bloomberg US Agg -- -- -- -- -- -2.53% -3.28% -- PIMCO Income Fund (MF) $78,890,965 8.22% 7.25% 8.05% 8.86% -1.75% -0.39% c Bloomberg US Agg -- -- -- -- -- -2.53% -3.28% cN American Beacon Sim High Yld Opps (MF) $38,978,034 4.06% 3.47% 3.85% 4.24% -0.64% 2.44% 6 M ML High Yld Mstr II -- -- -- -- -- -1.00% 0.49% o Lord Abbett High Yield (MF) $36,301,153 3.78% 3.47% 3.85% 4.24% -0.95% 0.97% O BoA MIL US High Yield -- -- -- -- -- -1.00% 0.50% M w L O • Domestic • ' ' ' • ' • . Q N� Russell3000 -- -- -- -- -- -4.40% 5.18% s State Street S&P 500 Flagship funds $141,494,486 14.75% 12.60% 14.00% 15.40% -4.09% 6.01 % N S&P 500 Index -- -- -- -- -4.08% 6.04% LL The London Company - Income Equity (SIVA) $21,328,803 2.22% 2.05% 2.28% 2.50% -4.04% 1.20% W Russell 1000 Value -- -- -- -- -- -4.27% 4.33% Dodge & Cox Stock X (MF) $23,149,477 2.41 % 2.05% 2.28% 2.50% -3.38% 4.86% Russell 1000 Value -- -- -- -- -- -4.27% 4.33% d E Vanguard Russell 1000 Growth Index I (MF) $14,932,234 1.56% 1.36% 1.51 % 1.66% -4.25% 6.66% t C.) Russell 1000 Growth -- -- -- -- -- -4.24% 6.69% c� w Q Returns are net of investment manager fees This report is provided for informational purposes only. The information shown was obtained from sources believed to be reliable, the accuracy of which cannot be guaranteed. Account statements provided by UBS or other financial institutions are the official record of your holdings, balances, transactions and security values and are not amended or superseded by any of the information presented in this report. Information is current as of the date shown. Past performance is no guarantee of future returns. See IMPORTANT INFORMATION at end of report for assumptions and limitations of the analysis in this report risk considerations, valuation, fees and other details regarding this report. Packet Pg. 63 2.3.b Municipal Employees' Benefit Trust - Flash Report Period Ending April 30, 2024 Performance Summary N a� w 04/2024 Actual Minimum Target Maximum 04/2024 YTD Q. Market Value Allocation Allocation Allocation Allocation Return Return Loomis Sayles Large Cap Growth (SMA) $14,825,958 1.55% 1.37% 1.52% 1.67% -5.54% 6.15% Russell 1000 Growth -- -- -- -- -- -4.24% 6.69% w 2 JPMorgan LCG R6 (MF) $15,093,437 1.57% 1.37% 1.52% 1.67% -4.80% 10.57% Russell 1000 Growth -- -- -- -- -- -4.24% 6.69% r L Fidelity@ Extended Market Index (MF) $31,674,446 3.30% 2.97% 3.30% 3.63% -6.47% 0.06% S&P Completion Idx -- -- -- -- -- -6.47% 0.04% Diamond Hill Small Mid Cap Fund (MF) $31,595,078 3.29% 2.97% 3.30% 3.63% -6.33% 0.55% Russell 2500 Value -- -- -- -- -- -6.29% -0.60% m Baron Capital (SMA) $30,709,609 3.20% 2.97% 3.30% 3.63% -8.51 % -2.53% rn Russell 2500 Growth -- -- -- -- -- -7.45% 0.42% 0 a E EquityTotal International ,• W Msci Acwi Ex Usa Nr -- -- -- -- -1.80% 2.81 % Vanguard Developed Markets Index (MF) $49,765,486 5.19% 4.67% 5.19% 5.71 % -3.35% 1.62% .2 _ FTSE Dev All Cap X -- -- -- -- -- -2.58% 2.48% MFS International Value (MF) $51,079,806 5.32% 4.67% 5.19% 5.71 % -2.44% 4.40% MSCI EAFE NR USD -- -- -- -- -- -2.56% 3.08% N Wellington CIF International Contrarian Value $51,775,640 5.40% 4.67% 5.19% 5.71 % -0.42% 3.29% 0 c MSCI Net EAFE Value -- -- -- -- -- -1.02% 3.41 % C1 1* Wellington CIF II International Quality Growth $51,228,711 5.34% 4.67% 5.19% 5.71 % -2.90% 4.45% CD MSCI AC Wld x US Grw -- -- -- -- -- -2.70% 3.11 % 0 American Funds New World (MF) $52,227,225 5.44% 4.81 % 5.34% 5.87% -1.63% 3.48% �° MSCI Net EM -- -- -- -- -- 0.45% 2.83% t. o a d Benchmark -- -- -- -- -- -2.81 % 1.44% LL Current Period Target = 33.00% Russell 3000, 32.20% Bloomberg US Aggregate Bond, 26.10% MSCI ACWI Ex USA NR USD, 7.70% ICE BofAML US High Yield Master II m 1.00% FTSE Treasury Bill - 3 Month W c d E t c� w w Q Returns are net of investment manager fees This report is provided for informational purposes only. The information shown was obtained from sources believed to be reliable, the accuracy of which cannot be guaranteed. Account statements provided by UBS or other financial institutions are the official record of your holdings, balances, transactions and security values and are not amended or superseded by any of the information presented in this report. Information is current as of the date shown. Past performance is no guarantee of future returns. See IMPORTANT INFORMATION at end of report for assumptions and limitations of the analysis in this report, risk considerations, valuation, fees and other details regarding this report. Packet Pg. 64 2.3.b IMPORTANT INFORMATION This report is provided for informational purposes only, does not constitute an offer to buy or sell securities or investment products, does not constitute a recommendation that you buy, sell or hold securities or jn investment products, and is current as of the date shown. It may include information regarding your UBS Institutional Consulting ("IC") or UBS Consolidated Advisory Program ("CAP") accounts held at various r UBS entities including UBS Financial Services Inc., UBS Securities LLC and UBS AG (collectively, "UBS" or "UBS entities"), as well as accounts you hold at other financial institutions. Accounts included in this M report are identified at the beginning of the report. Information may be shown for individual accounts or as one or more combined portfolios; the accounts included in each portfolio are also identified at the -0 IZ beginning of the report. If this output is provided as part of a proposal, it is marketing material. It is provided to you for discussion and consideration and is intended to aid (and be used by) your UBS Consultant or Financial Advisor in providing you with actual individualized investment recommendations. Therefore, they should only be considered in conjunction with the actual recommendations and advice of your UBS Consultant or Financial m Advisor, our standard account documents, agreements, disclosures, including the ADV Disclosure for applicable advisory programs, and the additional factors that warrant consideration for your particular W financial situation, including costs. The options presented are for discussion purposes only and do not constitute a recommendation to buy, hold, or sell any securities or investment products. This material is not intended and should not be construed to constitute investment advice and does not itself create a fiduciary relationship between you and UBS. You must make independent decisions with respect to any proposals contained within this report. In making those decisions you have reviewed the terms of any Plan with respect to which you are a fiduciary and your obligations to any such Plan under ERISA. If you N would like more details about any of the information provided, or personalized recommendations or advice, please contact your UBS Financial Advisor. i Accounts and Assets Included: UBS account statements are the only official records of holdings, balances, transactions, and security values of assets held in UBS accounts and are not replaced, amended or H superseded by any of the information presented in this report. If assets that you hold at other financial institutions are included in this report, they are being provided as part of your IC or CAP Services +' Agreement or you have asked us to include those assets as an accommodation but they are not included as part of your IC or CAP Services Agreement with us. If assets are included solely as an accommodation, those assets are identified as such in this report. In either situation, the inclusion of assets held at another financial institution is based on information, including valuation and transactional d information, furnished to UBS by you or your custodian. We have not verified, and are not responsible for, the accuracy or completeness of this information. This report is not intended to provide you with m consolidated information or reporting regarding your holdings at other firms. You should review and maintain the original documents for those assets, such as account statements for individual accounts held to away from UBS. Those documents contain their record of holdings, balances, transactions, and security values of assets held in those accounts, as well as notices, disclosures and other information d important to you, and may also serve as a reference should questions arise regarding the accuracy of the information in this report. UBS Financial Services Inc. SIPC coverage would only apply to those assets d held at UBS Financial Services Inc. You should contact your financial representative at any other financial institution where you hold an account to determine the availability of SIPC coverage, if any. We O require that you hold and purchase only eligible managed assets in your UBS advisory accounts. Q Investment Monitoring: Your IC or CAP Agreement defines the investment monitoring performed as part of your respective investment advisory program. If we have included assets held in UBS brokerage E accounts, it is important that you understand that we do not act as an investment adviser or fiduciary on brokerage assets. We do not monitor brokerage account investments through the IC or CAP Programs W and we do not monitor investments as a brokerage service unless specifically agreed to in writing. This report is provided solely to help you evaluate your account performance and/or progress toward your 75- financial objectives. By providing this report to you, we are not agreeing to monitor any brokerage account investments contained within the report. If you want ongoing monitoring of your brokerage !Z investments, please speak with your financial advisor about the possibility of including such investments as part of an investment advisory relationship with us. Inclusion of brokerage assets in this report �1 also distorts the actual performance of your advisory assets. C Valuation: Values shown are not inclusive of margin balances. Every reasonable effort has been made to accurately price securities; however, we make no guarantee with respect to any security's price. To O determine the value of securities in your account, we generally rely on third party quotation services. If a price is unavailable or believed to be unreliable, we may determine the price in good faith and may use other sources such as the last recorded transaction. We will generally rely on the value provided by you, the custodian or issuer of that security, when (i) securities are held at another custodian; (ii) investments not available through UBS or that our systems do not recognize. To obtain current quotations, when available, contact your Institutional Consultant or Financial Advisor. Such pricing may impact N the performance information provided in these reports. If pricing is indicated as "NA", the required data for that field was not provided by the other financial institution or you; this will impact the performance C N information provided in these reports. CD Performance Analytics: Unless otherwise noted, performance shown is based on Time Weighted Rate of Return. Periods greater than one year have been annualized, but annual performance may not represent M a full calendar year depending on the inception date of the first account included in these reports. Standard deviations are shown only for periods of 12 months or longer. When you hold your assets at UBS, .4 this report will generally show performance net of manager and UBS Institutional Consulting fees, unless you and your UBS Financial Advisor decided to reflect fee information differently. If you hold your C assets away from UBS, this report will generally show performance net of manager and UBS Institutional Consulting fees if your custodian provides that level of fee information, unless you and your UBS p Financial Advisor decided to reflect fee information differently. Therefore, this report may reflect performance before the deduction of manager fees and/or UBS Institutional Consulting advisory fees. The to payment of fees and expenses will reduce the performance of the account and the reduction in performance will have a cumulative effect over time. The net effect of the payment of fees on the annualized O performance, and the compounded or cumulative effect over time, is dependent on the amount of the fee and the account's investment performance. For example, an account that experiences an annual gross i performance of 10% but incurs a 2.8% annual fee that is deducted quarterly on a prorated basis, will experience net annual performance of 7.1%, a reduction of 2.9% per year. Compounding will similarly affect O the account's performance on a cumulative basis. y Performance information incorporates data as of the date your accounts became available for these reports, not as of your initial acquisition of a particular investment unless performance history is imported at IX client's instruction. For reports that reflect combined account information, the inception date will be the earliest performance start date of any of the individual accounts selected for the consolidation time s period. If an individual account's performance information is not available for a full reporting time period (month to date, quarter to date, year to date or performance to date), that account's information will only to O be included for the period when available. For consolidated accounts that include different account inception dates, the consolidated AdditionslWithdrawals, Income Earned and Investment Appreciation/ ILL will include all activity that occurred during the consolidated reporting time period. The inception date of each account is listed at the beginning of this report. Accounts that hold or held insurance � products will be reported on from the month end date of when insurance and annuity activity could be obtained from the carrier. To the extent that your historical data contains a mixture of net and gross m performance history related to manager or advisory fees, those distinctions will impact your performance reports to the extent that the different methods of reporting are blended. Note that various factors, W including unpriced securities and certain holdings, adjustments or activity may cause the results shown in this report to differ from actual performance (see the Performance Reconciliation Adjustments section for detail on differences between your Custodial statement and information used to create this performance report). Note that these results may differ from other performance reports provided to you by UBS. + Performance information may be impacted by the different ways each UBS entity or third party financial institution respectively records trade executions. Past performance is no guarantee of future results. C Neither the UBS entities nor any of their respective representatives provide tax or legal advice. You must consult with your legal or tax advisors regarding your personal circumstances. d You have discussed the receipt of this individually customized report with your Financial Advisor. Your UBS account statements and trade confirmation are the official records of your accounts at UBS. We t V tC w w Q Packet Pg. 65 2.3.b assign index benchmarks to our asset allocations, strategies in our separately managed accounts and discretionary programs based on our understanding of the allocation, strategy, the investment style and our research. The benchmarks included in this report can differ from those assigned through our research process. As a result, you may find that the performance comparisons may differ, sometimes y significantly, from that presented in performance reports and other materials that are prepared and delivered centrally by the Firm. Depending upon the composition of your portfolio and your investment +; objectives, the indexes used in this report may not be an appropriate measure for comparison purposes, and as such, are represented for illustration only. Your portfolio holdings and performance may vary M significantly from the index. Your financial advisor can provide additional information about how benchmarks within this report were selected. 13 lZ Using Margin in your IC or CAP Investment Advisory Accounts. Using margin in an advisory account is a more aggressive, higher risk approach to pursuing your investment objectives. Unless you have selected a strategy that requires the use of margin as part of its implementation, we do not recommend the use of margin in advisory accounts, including IC and CAP accounts. The decision to leverage in an advisory account rests solely with you and is made against our recommendation. Your decision should be made only if you understand: (1) the risks of margin in an advisory account; (2) how margin may affect m our ability to achieve investment objectives; 3 that you may lose more than our original investment. You will a interest to UBS on the outstanding margin loan balance. Using margin to purchase Y Y 1 () Y Y Ypay 9 9 9 9 p W securities in an advisory account increases the amount of (but not the percentage of) the advisory fee you pay. Positive or negative performance of a margined advisory account will be magnified by virtue of using margin. You will not benefit from using margin in an advisory account if the performance of your account does not exceed the interest expense being charged on the loan plus the additional advisory v account fees incurred by your account as a result of the deposit of the loan proceeds. N Using Advisory Accounts as collateral for a credit line. If you currently have UBS Bank USA Credit Line collateralized by advisory accounts, UBS Bank USA pays UBS Financial Services a servicing fee based L on the amount of outstanding loan balances to compensate UBS for referring clients and for administrative and operational support relating to the loan. If you maintain a balance on a non -purpose loan, your i— Financial Advisor will receive compensation primarily based upon the outstanding balance and the corresponding spread on the loan. This provides an incentive for your Financial Advisor to refer you for a +- non -purpose loan and to draw down on the loan. As UBS and your Financial Advisor are compensated primarily through advisory fees paid on your account, we (and your Financial Advisor) benefit if you d draw down on your loan to meet liquidity needs rather than sell securities or other investments in your UBS account, which would reduce our advisory fee. A draw down would preserve your Financial d Advisor's advisory fee revenue and may generate additional loan -related compensation for him. This presents a potential conflict of interest for your Financial Advisor when addressing your needs for m liquidity. Please consider your options and these conflicts of interest carefully when deciding whether to liquidate assets or draw down on a non -purpose loan. to UBS Financial Services Inc. is in the business of establishing and maintaining investment accounts and we will receive compensation from you in connection with investments that you make, as well as additional G1 compensation from third parties whose investments we distribute. This presents a conflict of interest when we recommend that you move your assets to UBS from another financial institution, and also when we d make investment recommendations for assets you hold at, or purchase through, UBS. For more information on how we are compensated by clients and third parties, conflicts of interest and investments available O at UBS please refer to the 'Your relationship with UBS' booklet provided at ubs.com/relationshipwithubs,or ask your UBS Financial Advisor for a copy.Neither UBS, our affiliates nor our Financial Advisors will act a as investment adviser to you with respect to the liquidation of securities held in an advisory account to meet a margin call or credit line loan demand E W M O. 7 N O N O M O O Q Packet Pg. 66 2.3.b Benchmark Index Information: For comparison purposes, these reports may contain a number of general broad market indices, which were selected to demonstrate the performance of broad market indicators that are readily recognized, rather than for direct performance comparisons, and do not reflect the performance of actual investments. The selection and use of benchmarks is not a promise or guarantee that your accounts will meet or exceed the stated benchmarks. Benchmark information is illustrative and relates to historical performance of market indexes and not the performance of actual investments. Indexes are not available for direct investment and reflect an unmanaged universe of securities. Indices assume no management, custody, transaction fees or expenses that would lower the performance results, and assume reinvestment of dividends and capital gains. Information about indices is based on information obtained from sources believed to be reliable, but no independent verification has been made. UBS does not guarantee the accuracy or completeness of any index information presented. Market index data is subject to review and revision, and UBS reserves the right to substitute indices or display only those indices for which current updated information is available. Information regarding the indexes shown in this report can be found at the end of this report. Risk Considerations: Some of the general risk considerations associated with the investment options included in this report are described below. The descriptions are not meant to be a complete list of all investment risks. For more complete information regarding fees, expenses, risks and restrictions associated with these investments please review the offering documents and marketing materials. Investors should consult their tax advisor about their specific tax situation before investing in any securities. In addition, clients should familiarize themselves with the particular market risks and the other risks associated with the specific investment. All investments contain risk and may lose value. Cash and cash alternatives: Cash and cash alternatives typically include money market securities or three-month T-Bills. These securities have short maturity dates and they typically provide a stable investment value as compared to other investments and current interest income. These investments may be subject to credit risks and inflation risks. Treasuries also carry liquidity risks for sales prior to maturity. Investments in money market funds are neither insured not guaranteed by the Federal Deposit Insurance Corporation ("FDIC"), the U.S. government or any other government agency. There can be no assurance that the funds will be able to maintain a stable net asset value at $1.00 per share or unit. Alternative Investments: Non-traditional asset classes are alternative investments that include hedge funds, private equity, and private real estate (collectively, non-traditional or alternative investments). These investments can be subject to substantial risks (including the risks associated with limited liquidity, the use of leverage, short -sales and concentrated positions), may involve complex tax structures and strategies, and may not be easily valued. The risks of alternative investments should be carefully considered in light of your investment objectives, risk tolerance and net worth. Alternative investments are speculative and entail substantial risks, which may place your capital at risk. Alternative investments may not have been registered with the Securities and Exchange Commission or under any state securities laws. The market for such investments may be highly illiquid and subjectively valued, and these reports provide values for informational purposes only. Accuracy is not guaranteed. These values may differ substantially from prices, if any, at which a unit may be bought or sold and do not necessarily represent the value you would receive from the issuer upon liquidation. Issuer estimated values, if any, are generally updated on a regular (annual or semi-annual) basis and are supplied to us by the issuer, but may be calculated based on different information from what is used by third parties to derive their estimated values. U.S. Fixed Income: Fixed income represents exposure (whether direct or indirect) to debt issued by private corporations, governments or federal agencies. Historically, fixed income has higher return than cash investments but their value can fluctuate dramatically as they are subject to risks including market, interest rate, issuer, credit, default and inflation risk. An investment in a portfolio may be worth more or less than its original cost when redeemed. In addition, fixed income generally has less volatility and long-term return than equities. U.S. fixed income may be further classified as high yield. These investments are high yielding but may also carry more risk. A bond funds yield and value of its portfolio fluctuate and can be affected by changes in interest rates, general market conditions and other political, social and economic developments. U.S. Equity: Equities represent exposure (whether direct or indirect) to ownership interest in a corporation. Historically, equities are more risky than fixed income or cash investments as they experience greater volatility risk, which is the risk that the value of your investment may fluctuate over time. However, they have had higher returns. Investments in small and medium company stocks can be more volatile over the short term than investments in large company stocks, however, they may offer greater potential for appreciation. Non-U.S. equity and fixed income: Non-U.S. equity and fixed income represent exposure (whether direct or indirect) to ownership interests and debt, respectively, of foreign governments and corporations that can be sub -divided into those from countries that have developed markets or emerging markets. Further, non-U.S. companies not reporting with the SEC may be subject to accounting, auditing, and financial reporting standards and requirements that differ from companies reporting with the SEC and may have less publicly available information about them than companies reporting with the SEC. International: Investors in securities of issuers located outside of the United States should be aware that even for securities denominated in U.S. dollars, changes in the exchange rate between the U.S. dollar and the issues "home" currency can have unexpected effects on the market value and liquidity of those securities. Those securities may also be affected by other risks (such as political =, economic or regulatory changes) that may not be readily known to a U.S investor. Variable Annuities: A variable deferred annuity is a long-term financial product designed for retirement purposes. It is a contractual agreement in which payment(s) are made to an insurance company, which agrees to pay out an income or a lump sum amount at a later date. There are fees and charges associated with a variable annuity contract, which include, but are not limited to, operations charges, sales and surrender charges, administrative fees, and additional charges for optional benefits. Variable annuities are sold by prospectus and you should carefully consider important information on the sub -accounts' investment objectives, risk, charges and expenses. Please read the prospectus and offering documents carefully before you invest. Your Financial Advisor can provide a copy of the prospectus. For current month -end returns: <http:Hadvisor.morninastar.com/familvinfo.asp <http://advisor.morninostar.com/familyinfo.asp>> <http://advisor.morninostar.com/familyinfo.asp> <htti)://advisor.morninostar.com/familyinfo.asp>. Withdrawals from an annuity contract are taxable as ordinary income, not as capital gains and, if made prior to age 59 and 1/2, may be subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to surrender charges. Withdrawals will reduce the death benefit, living benefits and cash surrender value. For tax purposes, withdrawals will come from any gain in the contract first. Please see the prospectus for complete details. Amounts in the annuity's variable investment portfolios are subject to fluctuation in value and market risk, including loss of principal. Unregistered group variable annuities and registered group variable annuities that are solely available for use in qualified plans are rated and ranked based on their position within the bell curve of the open end fund peer group (a.k.a. category), rather than the variable annuity subaccount peer group. These ratings and ranks are calculated by using an overlay of the open end fund peer group break points and therefore do not contribute to the category average or number of funds within the peer group. For variable annuity subaccounts, standardized return is total return based on its inception date within the separate account and is adjusted to reflect recurring and non -recurring charges such as surrender fees, contract charges, maximum front-end load, maximum deferred load, maximum M&E risk charge, administration fees, and actual ongoing fund -level expenses. The benchmark used for each individual subaccount performance is an index that has been assigned to the particular manager or fund. Mutual Fund Performance Information: Mutual Funds are sold by prospectus and you should carefully consider important information on the fund's investment objectives, risk, charges and expenses. Please read the prospectus and offering documents carefully before you invest. Your UBS Institutional Consultant can provide a copy of the prospectus. For current month -end returns: <<htto://advisor.morninostar.com/familyinfo.asp» <httr)://advisor.mornincistar.com/familyinfo.asp> <http://advisor.morninostar.com/familyinfo.asr)>. This analysis may incorporate mutual fund and exchange traded fund performance results. Analyticsshown are calculated based on the fund's Net Asset Value, which may reflect the reinvestment of dividends and capital gains, as well as the w Q Packet Pg. 67 2.3.b deduction of 12b-1 fees and fund internal expenses (e.g. fund management fees). The analytics do not reflect the deduction of the sales load, where applicable, the UBS Consulting fee(s), where N applicable, or the impact of taxes. Had the sales load, fee or taxes been included, the results used in this analysis would have been reduced. Wilshire Trust Universe Comparison Service Information: These reports may contain comparative peer performance data provided by Wilshire Associates Incorporated (Wilshire®), entitled "Quartile Ranking Comparison." Output will be presented as a universe organized by asset type, plan type, plan size or other basis. Wilshire®, the Wilshire Trust Universe Comparison Service® and TUCS® are service marks of Wilshire Associates Incorporated and have been licensed for use by UBS Financial Services Inc. All content of TUCS is ©2021 Wilshire Associates Incorporated, all rights reserved. Q' Rankin Methodology: Universe ranking assigns a whole number rank between 1 and 99 for a set of values. This is the distribution. Rankin is determined b comparing a value to the values in the set, and using 9 9Y� 9 9 9 Y P 9 9 the rank assigned to the value that is equal to or'better than the value being compared. Abetter' value is based on whether a higher value is better or a lower vale is better. A set of values can be ranked either H high to low (as in rates of return, where a higher value is better than a lower value) or low to high (such as Beta).Policy Index: A point of reference for evaluating a portfolio's investment performance. A policy 00 Index can be comprised of single or multiple benchmarks (weighted blend). Portfolios with multiple benchmarks will be depicted with a description of benchmarks and weights that comprise the policy. The UJ benchmarks that constitute the policy index change over time as your portfolio changes. For historical policy index information, see the Benchmark Comparisons Used in this Report exhibit. Gain/(Loss) Information: When data is available from UBS, estimated unrealized gains/losses are calculated for individual security lots. For assets transferred from another financial institution, gain/loss N information will be reflected only for the period of time the assets have been held at UBS entities. For assets held at other financial institutions, information provided by you or that entity, if any, is reflected. Total realized gain/loss information may include calculations based upon non-UBS entities cost basis information. UBS Financial Services Inc. does not independently verify or guarantee the accuracy or L validity of any information provided by sources other than UBS Financial Services Inc. When original cost information is unavailable, gain/loss amounts will represent current market value and total gains/losses may be inaccurate. Date information for when a particular security was acquired, when available, appears on these reports. When no acquisition date is provided for a security, these reports reflect "N/A" and omit this information. As a result, these figures may not be accurate and are provided for informational purposes only. Interest and Dividend Income: When shown on this report, information does not reflect your account's tax status or reporting requirements. You should use only official IRS forms for tax reporting m purposes. The classification of private investment distributions can only be determined by referring to the official year-end tax -reporting document provided by the issuer. Contributions and Withdrawals: When shown on a report, information regarding contributions and withdrawals may represent the net value of all cash and securities contributions and withdrawals, and to d may include program fees (including wrap fees) and other fees added to or subtracted from your accounts from the first day to the last day of the period covered by these reports. Program fees may be separately identified or included in withdrawals except when paid via an invoice or through a separate account billing arrangement. Cash Flow: Cash Flow analysis is based on the historical dividend, coupon and interest payments you have received as of the Record Date in connection with the securities listed and assumes that you Q will continue to hold the securities for the periods for which cash flows are projected. This may or may not include principal paybacks for the securities listed. These potential cash flows are subject to C change due to a variety of reasons, including but not limited to, contractual provisions, changes in corporate policies, changes in the value of the underlying securities and interest rate fluctuations. The UJ effect of a call on any security(s) and the consequential impact on its potential cash flow(s) is not reflected in this report. Payments that occur in the same month in which the report is generated -- but prior to the report run ("As of) date -- are not reflected in this report. In determining the potential cash flows, UBS relies on information obtained from third party services it believes to be reliable but does not !Z independently verify or guarantee the accuracy or validity of any information provided by third parties. Cash flows for mortgage -backed, asset -backed, factored, and other pass -through securities are based v on the assumptions that the current face amount, principal pay -down, interest payment and payment frequency remain constant. _ Calculations may include principal payments, are intended to be an estimate of future projected interest cash flows and do not in any way guarantee accuracy. Important information about advisory & brokerage services: As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC -registered investment adviser and brokerage services in its capacity as an SEC -registered broker -dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them p about the products or services we offer. A small number of our financial advisors are not permitted to offer advisory services to you, and can only work with you directly as UBS broker -dealer representatives. Your financial n! advisor will let you know if this is the case and, if you desire advisory services, will be happy to refer you to another financial advisor who can help you. Our agreements and disclosures will inform you about whether we and C M our financial advisors are acting in our capacity as an investment adviser or broker -dealer. For more information, please review the PDF document at ubs.com/relationshipsummary. While we strive to make sure the nature of our services is clear in the materials we publish, if at any time you would like clarification on the nature of your accounts or the services you are receiving, please speak with your UBS Institutional Consultant.The p ACCESS, SWP, AAP, MAC and Institutional Consulting ("IC") programs offer some of the same Separately Manage Account ("SMA") Managers for different SMA Manager fees. The amount of the fee paid to each SMA L� O Manager is a function of that SMA Manager's investment style and the fee negotiated with the SMA Manager either by UBS (in ACCESS, SWP) or by you (in MAC or IC). Depending on your asset level and ability to negotiate the investment management fee with the SMA Manager in the dual -contract structure of the MAC or IC program, you may find that the single -contract structure in ACCESS and SWP provides a more cost-effective M option or vice versa. In addition, based on the combination of our fees and your SMA Manager's fees, the overall fee for your SMA account in ACCESS, SWP, MAC or IC may exceed 3% of the account value. Please review r_ your options and overall costs carefully with your Financial Advisor before investing p !Z d s to LL H 00 W 2 C d E t C.) cC w w Q Packet Pg. 68 2.3.b Calculation Definitions Accrued Interest: In accounting, accrued interest refers to the amount of interest that has been incurred, as of a specific date, on a loan or other financial obligation but has not yet been paid out. Accrued interest can either be in the form of accrued interest revenue, for the lender, or accrued interest expense, for the borrower. The term accrued interest can also refer to the amount of bond interest that has accumulated since the last time a bond interest payment was made. Alpha: Alpha measures the difference between an investment's actual performance, and its expected performance as indicated by the returns of a selected market index. A positive Alpha indicates CL the risk -adjusted performance is above that index. In calculating Alpha, Standard Deviation (total risk) is used as risk measure. Alpha is often used to judge the value added or subtracted by a manager. H m Annual Income is money (or some equivalent value) that an individual or business receives, usually in exchange for providing a good or service or through investing capital. Income is used to fund day-to-day W expenditures. Investments, pensions, and Social Security are primary sources of income for retirees. For individuals, income is most often received in the form of wages or salary. Business income can refer to a company's remaining revenues after paying all expenses and taxes. In this case, income is referred to as "earnings." Most forms of income are subject to taxation. Appreciation/Depreciation: Appreciation or Depreciation is the change in market value minus net cash flows. The value indicates by how much the portfolio value has changed due to changes in asset N values. Appreciation would be an increase, Depreciation would be a decrease. Average Exposure: Average Exposure is generally, the average allocation to a segment or an asset. Calculated as the beginning market value plus the weighted net cash flows as a percentage of the total L portfolio market value. Beta: Beta is defined as a Manager's sensitivity to market movements and is used to evaluate market related, or systematic risk. Beta is a measure of the linear relationship, over time, of the Manager's returns and those of the Benchmark. Beta is computed by regressing the Manager's excess returns over the risk free rate (cash proxy) against the excess returns of the Benchmark over the risk free rate. An investment that is as equally volatile as the market will have a Beta of 1.0; an investment half as volatile as the market will have a Beta of 0.5; and so on. Thus, Betas higher than 1.0 indicate d m that the fund is more volatile than the market. Composite Benchmark: The Composite Benchmark is a weighted average benchmark based on the allocation of funds within each of the portfolios in the composite and the risk index assigned to each portfolio. to d Correlation (R): The Correlation represents the degree to which investments move in tandem with one another and is a critical component of diversified portfolio construction. The Correlation varies between a minimum of -1 (move in opposite direction) and a maximum of 1 (completely correlated). Lower Correlations enhance diversification and lead to better risk -adjusted returns within diversified portfolios. An R of less than 0.3 is often considered low Correlation. Q Cost: This is the Cost basis information. Cost basis is the original value of an asset for tax purposes, usually the purchase price, adjusted for stock splits, dividends, and return of capital distributions. This E value is used to determine the capital gain, which is equal to the difference between the asset's cost basis and the current market value. W Coupon Rate: A coupon rate is the yield paid by a fixed -income security; a fixed -income security's coupon rate is the annual coupon payments paid by the issuer relative to the bond's face or par value. The coupon rate, or coupon payment, is the yield the bond paid on its issue date. This yield changes as the value of the bond changes, thus giving the bond's Yield to Maturity. The portfolio's coupon rate !Z is the weighted average of the assets' coupon rates. v Current Yield: This measure looks at the current price of a bond instead of its face value and represents the return an investor would expect if he or she purchased the bond and held it for a year. This _ measure is not an accurate reflection of the actual return that an investor will receive in all cases because bond and stock prices are constantly changing due to market factors. Distribution of Excess Returns: Distribution of Excess Returns displays an arrangement of statistical data that exhibits the frequency of occurrence of the investment's returns in excess of the selected Market Index. Distribution of Assets: Distribution of Assets displays monthly data related to net contributions, market values, rates of return, and Index Values. Down Market (Mkt) Capture Ratio: Down Market Capture Ratio is a measure of an investment's performance in down markets relative to the market itself. A down market is one in which the market's p return is less than zero. The lower the investment's Down Market Capture Ratio, the better the investment protected capital during a market decline. A negative Down Market Capture Ratio indicates n! that an investment's returns rose while the market declined. C M Downside Capture Return: The downside capture return is the cumulative performance of the portfolio in all periods during which the risk benchmark posted a negative return. Downside Probability: The downside probability is the ratio of the number of periods during which the portfolio posted a negative return to the total number of periods under study. If, for example, during p a 12 month span, the portfolio realized 5 months of negative returns, the downside probability would be equal to 5/12 or 42 percent. The sum of the downside and upside probabilities must equal 1.0. The `� O downside probability does not consider the extent to which the portfolio will fail to exceed the target index. It merely considers the likelihood that the target will not be exceeded. It is important to bear in mind this point when comparing the downside probabilities of more than one portfolio. It is not necessarily correct, for example, to deem portfolio A riskier than portfolio B simply because A has a higher M downside probability. i Downside Risk (Semi Standard Deviation, Semi Std Dev, or Downside Deviation): Downside Risk only identifies volatility on the down side. Downside Risk measures the variability of returns below p zero, whereas Standard Deviation attributes volatility in either direction to risk. The Downside Risk method calculates the deviations below zero for each observed return. Each time a return falls below zero, Q- the sum is divided by the number of observations and the square root is taken. This result is then shown on an annualized basis. Dynamic Index: A weighted average blended benchmark of the risk indices assigned to each asset class, based on the asset allocation of the portfolio for a given period. The benchmark index weighting s adjusts with changes to the asset allocation. A Dynamic Index should not be used when measuring against the client's Investment Policy Statement. to Effective Duration: A duration calculation for bonds with embedded options. Effective duration takes into account that expected cash flows will fluctuate as interest rates change. Excess: Denotes that a statistic is being measured relative to the Market Index selected. The data set analyzed consists of the periodic differences between the investment's measure and the selected LL Market Index's definition. Expense Ratio: Often referred to as the Net Expense Ratio, Morningstar pulls the net annual expense ratio from the fund's audited annual report. Annual -report expense ratios m reflect the actual fees charged during a particular fiscal year. The annual report expense ratio for a fund of funds is the wrap or sponsor fee only. The expense ratio expresses the percentage of assets W deducted each fiscal year for fund expenses, including 12b-1 fees, management fees, administrative fees, operating costs, and all other asset -based costs incurred by the fund. Portfolio transaction fees, or brokerage costs, as well as initial or deferred sales charges are not included in the expense ratio. The expense ratio, which is deducted from the fund's average net assets, is accrued on a daily basis. If the fund's assets are small, its expense ratio can be quite high because the fund must meet its expenses from a restricted asset base. Conversely, as the net assets of the fund grow, the expense percentage should ideally diminish as expenses are spread across the wider base. Funds may also opt to waive all or a portion of the expenses that make up their overall expense ratio. d Gross Dollar Weighted Return: Gross Dollar Weighted Return is the internal rate of return, excluding money manager fees. E Gross Expense Ratio: Represents the total gross expenses (net expenses with waivers added back in) divided by the fund's average net assets. If it is not equal to the net expense ratio, the gross expense ratio portrays the fund's expenses had the fund not waived a portion, or all, of its fees. Thus, to some degree, it is an indication of fee contracts. Some fee waivers have an expiration date; other waivers are in place indefinitely. Q Packet Pg. 69 2.3.b Gross Time Weighted Return: Gross Time Weighted Return is the Modified Dietz return, excluding money manager fees. N Index Value: Index Value is the unit value series based on the return stream. It can be used to calculate rates of return between any two dates in the report. Information Ratio: The Information Ratio is a measure of value added by an investment manager. It is the ratio of (annualized) excess return above the selected Market Index to (annualized) Tracking Error. Excess return is calculated by linking the difference of the manager's return for each period minus the selected Market Index return for each period, then annualizing the result. Investment Class: Group of financial instruments which have similar financial characteristics and which tend to behave similarly in the marketplace. Q- Investment Style: Method and philosophy followed by a manager when selecting financial instruments. Management Firm: Professional organization managing various assets in order to meet specified investment goals for the benefit of its clients. H Manager Capture Ratio: The Manager Capture Ratio is manager return divided by the selected Market Index return. It shows what portion of the market performance was captured by the manager under m certain market conditions: up market, down market, or both. LV Market Experience: Market Experience is the presumable market value of the portfolio if it and its cash flows had grown at the policy index rate of return. It lets the reader know if active management has aided or hurt the portfolio. ++ Maturity Date: The maturity date is the date on which the principal amount of a note, draft, acceptance bond or other debt instrument becomes due. On this date, which is generally printed on the certificate of the instrument in question, the principal investment is repaid to the investor, while the interest payments that were regularly paid out during the life of the bond, cease to roll in. The maturity L date also refers to the termination date (due date) on which an installment loan must be paid back in full. Net Cash Flow: For the total portfolio, net cash flow is aggregate contributions minus aggregate withdrawals. At the asset class level, net cash flow is aggregate purchases minus aggregate sales minus t� aggregate income. It is used in the numerator of the Modified Dietz return calculation. It is the same as "New Money" and "Flow". Net Dollar Weighted Return: Net Dollar Weighted Returns is the internal rate of return, including money manager fees. d m Net Time Weighted Return: Net Time Weighted Return is the Modified Dietz return, including money manager fees. New Money: For the total portfolio, New Money is aggregate contributions minus aggregate withdrawals. At the asset class level, New Money is aggregate purchases minus aggregate sales minus to d aggregate income. It is used in the numerator of the Modified Dietz return calculation. It is the same as "Net Cash Flow" and "Flow". Par value: Par value is the face value of a bond. The market price of a bond may be above or below par, depending on factors such as the level of interest rates and the bond's credit status. Par value for a bond is O typically $1,000 or $100 because these are the usual denominations in which they are issued. Q Performance Attribution: Attribution analysis is a sophisticated method for evaluating the performance of a portfolio or fund manager. Manager Contribution focuses on three factors: the manager's investment C style, their specific asset selections, and the market timing of those selections. It attempts to provide a quantitative analysis of the aspects of a fund manager's investment selections and philosophy that lead to UJ that fund's performance. Asset Allocation provides an analysis of the effects on relative performance (i.e., performance vs. an index) that are related to a portfolio's allocation between asset classes. Total Fund Attribution combines the Manager Contribution results with the impacts of Asset Allocation decisions. Q Real rate of return is the annual percentage of profit earned on an investment, adjusted for inflation. Therefore, the real rate of return accurately indicates the actual purchasing power of a given amount of v money over time. Adjusting the nominal return to compensate for inflation allows the investor to determine how much of a nominal return is real return. In addition to adjusting for inflation, investors also must _ consider the impact of other factors such as taxes and investing fees in order to calculate real returns on their money or to choose among various investing options. Tracking error is the divergence between the price behavior of a position or a portfolio and the price behavior of a benchmark. This is often in the context of a hedge fund, mutual fund, or exchange -traded fund (ETF) that did not work as effectively as intended, creating an unexpected profit or loss. Tracking error is reported as a standard deviation percentage difference, which reports the difference between the return an investor receives and that of the benchmark they were attempting to imitate. Treynor ratio, also known as the reward -to -volatility ratio, is a performance metric for determining how much excess return was generated for each unit of risk taken on by a portfolio. Excess return in this sense p refers to the return earned above the return that could have been earned in a risk -free investment. Although there is no true risk -free investment, treasury bills are often used to represent the risk -free return in the n! Treynor ratio. Risk in the Treynor ratio refers to systematic risk as measured by a portfolio's beta. Beta measures the tendency of a portfolio's return to change in response to changes in return for the overall C M market. Upside market Capture ratio: The Upside Capture Ratio is the ratio of the Upside Capture Return -of a portfolio against a benchmark index- divided by the Market Benchmark Index's return (from zero or positive returns). p Upside Capture Return; The Upside Capture Return, which is measured based a related benchmark index's returns, is the portfolio's compound return for returns in periods, in which the respective benchmark L� O index's return is above or equal to zero. Yield to maturity (YTM) is the total return anticipated on a bond if the bond is held until it matures. Yield to maturity is considered a long-term bond yield but is expressed as an annual rate. In M other words, it is the internal rate of return (IRR) of an investment in a bond if the investor holds the bond until maturity, with all payments made as scheduled and reinvested at the same rate. i Policy Index: A point of reference for evaluating a portfolio's investment performance. A policy Index can be comprised of single or multiple benchmarks (weighted blend). Portfolios with multiple O benchmarks will be depicted with a description of benchmarks and weights that comprise the policy. Q- d Rate of Return, ROR, Return %, ROI: All Return terms refer to the Modified Dietz return. lY Relative Risk: Relative risk is simply the ratio of the standard deviation of the portfolio to the standard deviation of the risk index. The statistic reveals how much of the variation of the risk index is s .'shared" by the portfolio. A relative risk of 1.0 indicates that the portfolio has the same level of return variability as the risk index. A relative risk of less than 1.0 indicates that the portfolio has shown a to lower dispersion of returns than the index. A relative risk in excess of 1.0 indicates that the portfolio returns have been more dispersed than those of the index. Riskless Index: The theoretical rate of return of an investment with zero risk. The risk -free rate represents the interest an investor would expect from an absolutely risk -free investment over a specified LL period of time. The 3 month T-Bill is the usual index used for riskless. m R-Squared (R2): The diversification measure R2 indicates the percentage of volatility in portfolio returns which can be "explained" by market volatility. This statistic indicates the degree to which the observed values of one W variable, such as the returns of a managed portfolio, can be explained by, or are associated with the values of another variable, such as a Market Index. It is especially helpful in assessing how likely it is that Alpha and Beta � are statistically significant. The R2 values generally range from 0.0 to 1.0. An investment with an R2 of 1.0 is perfectly correlated with the market whereas an investment with an R2 of 0.0 will behave independently of the market. An R2 of 0.95, for example, implies that 95% of the fluctuations in a portfolio are explained by fluctuations in the market. d E t 0 cC w w Q Packet Pg. 70 2.3.b Sector Allocations: The percentage a manager has allocated to specific economic sectors. Sharpe Ratio: The Sharpe Ratio indicates the excess return per unit of total risk as measured by Standard Deviation. It is a ratio of the arithmetic average of excess returns over the risk free rate to the Standard Deviation. The Sharpe Ratio is a measure of the premium earned for the risk incurred by the portfolio. Sortino Ratio: The Sortino Ratio is a measure of reward per unit of risk. With Sortino, the numerator (i.e., reward) is defined as the incremental compounded average return over the minimum acceptable return (MAR). The denominator (i.e., risk) is defined as the downside deviation of the returns below the MAR. Since the downside deviation is the standard deviation of those returns which fail to exceed the MAR, the result of the Sortino Ratio is a measure of the average reward per unit of loss. As with Sharpe and Treynor, the Sortino Ratio only has value when it is used as the basis of comparison between portfolios. The higher the Sortino Ratio, the better. Standard Deviation: A measure of the extent to which observations in a series vary from the arithmetic mean of the series. The Standard Deviation of a series of asset returns is a measure of volatility or risk of the asset. Target Allocation: The Target Allocation is the allocation goal of the portfolio approaches and long- and short-term holding periods. HFRI Relative Value: Equally weighted index of investment managers who maintain positions in which the investment thesis is predicated on realization of a valuation discrepancy in the relationship between multiple securities. Managers employ a variety of fundamental and quantitative techniques to establish investment theses, and security types range broadly across equity, fixed income, derivative or other security types. Unit Values: Unit Value links periodic rates of return, beginning with an initial value of 100. It can be used to calculate rates of return between any two dates in the report. Index Definitions JP Morgan Global Ex-U.S. Bond Index: Consists of regularly traded, fixed-rate domestic government debt instruments from 12 international bond markets. Countries included are Austria, Belgium, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Spain, Sweden and the United Kingdom. MSCI AC World Index ex USA: Consists of approximately 2,000 securities across 47 markets, with emerging markets representing approximately 18%. MSCI attempts to capture approximately 85% of the market capitalization in each country. MSCI EAFE Index (Europe, Australasia, Far East): A free float -adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. As of June 2007, the MSCI EAFE Index consisted of the following 21 developed market country indexes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. MSCI Emerging Markets Index: A free float -adjusted market capitalization index that is designed to measure equity market performance of emerging markets. As of November 2008, the MSCI Emerging Markets Index consisted of the following 24 emerging market country indexes: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. MSCI Europe Index: A free float -adjusted market capitalization -weighted index that is designed to measure the equity market performance of the developed markets in Europe. As of June 2007, the MSCI Europe Index consisted of the following 16 developed market country indexes: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. MSCI Japan Index: A free float -adjusted market capitalization -weighted index that is designed to measure the equity market performance of Japan. NAREIT Index: Benchmarks the performance of the REIT industry since its inception in 1972. It was designed to provide a comprehensive assessment of overall industry performance. Some REITs available from over-the-counter markets are not included due to the lack of real-time pricing. NCREIF Property Index (NPI): A quarterly time series composite total rate of return measure of investment performance of a large pool of individual commercial real estate properties acquired in the private market for investment purposes only. All properties in the NPI have been acquired, at least in part, on behalf of tax-exempt institutional investors - the great majority being pension funds. As such, all properties are held in a fiduciary environment. Russell 1000® Index: Measures the performance of the large -cap segment of the U.S. equity universe. It is a subset of the Russell 30000 Index and includes approximately 1000 of the largest securities based on a combination of their market cap and current index membership. The Russell 1000 represents approximately 92% of the U.S. market. Russell 1000® Growth Index: Measures the performance of the large -cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with higher price -to -book ratios and higher forecasted growth values. Russell 10008 Value Index: Measures the performance of the large -cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with lower price -to -book ratios and lower expected growth values. Russell 2000® Growth Index: Measures the performance of the small -cap growth segment of the U.S. equity universe. It includes those Russell 2000 companies with higher price -to -book ratios and higher forecasted growth values. Russell 2000® Value Index: Measures the performance of the small -cap value segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price -to -book ratios and lower forecasted growth values. Russell Mid -Cap® Growth Index: Measures the performance of the mid -cap growth segment of the U.S. equity universe. It includes those Russell mid -cap companies with higher price -to -book ratios and higher forecasted growth values. Russell Mid -Cap® Value Index: Measures the performance of the mid -cap value segment of the U.S. equity universe. It includes those Russell mid -cap companies with lower price -to -book ratios and lower forecasted growth values. S&P 500 Index: Covers 500 large cap industrial, utility, transportation, and financial companies of the US markets. The index represents about 75% of NYSE market capitalization and 30% of NYSE issues. It is a capitalization weighted index calculated on a total return basis with dividends reinvested. TASS Index of CTAs: Is a dollar -weighted index based on historical managed futures performance of CTAs with established track records. Source of FTSE Data: FTSE International Limited ("FTSE") © FTSE 2016. For important disclaimers in relation to FTSE Data please see the relevant attribution and disclaimer requirements at <http://www.ftse.com/About_Us/Legal/Attribution_Requ irements.jsp> N d Q H m W r N 7 L H d C d m to d d O Q E W Q 7 N 0 N 0 M 0 O w Q in Packet Pg. 71 2.3.b CUBS 2021. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. UBS Financial Services Inc. www.ubs.com/financialservicesinc 050707-1138 UBS Financial Services Inc. is a subsidiary of UBS AG. Packet Pg. 72 MEBT Performance Return Graphs 2.3.c MEBT Total Performance Returns �— JPMorgan LCG R6 (MF) -+- PidelityO Extended Market Index IMF) Diamond HIII Small Mid Cap Fund (MF) Baron Capital (SMA) 40 Total International Equity • Vanguard Developed Markets Index IMF) MF5 International Value (MF) t Wellington OF International Contrarian Value �- Wellington CIF II International Quality Growth American Funds New World (MF) Total Portfolio 30 € 20 S' 10 0 Opp 1`O A, � � Af 1c`01 �e yc Periods Here's the colored graph of the MEET Total Performance Returns. Each line represents the performance of a different asset class or portfolio over various periods (QTR, YTD, 1 Yr, 3 Yr, 5 Yr, 10 Yr, and Since Inception). The graph helps visualize the relative performance of each asset class across these time frames. [g Total Portfolio Performance Returns 14.93°7 t Total Portfolio 14 12 v 10 E v 7.029 6 4.95 4 3.07a QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Periods Here's the colored graph of the Total Portfolio returns. The graph shows the performance of the Total Portfolio over various periods (QTR, YTD, 1 Yr, 3 Yr, 5 Yr, 10 Yr, and Since Inception), with annotations y for each data point. C-) Packet Pg. 73