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Vice Mayor Narum closed public comment. Councilmember Brown expressed her gratitude or working on the Taskforce and commended the project architect. She encouraged the public to attend upcoming workshops and provided feedback. She commented on the curvy-linear style of the buildings and stated it will be a showpiece for the City. Additionally, she addressed reduced traffic via various entrances and encouraged the public to provide input. She listed the dates of upcoming Taskforce meetings and public workshops. Councilmember Pentin commented on the work of the Taskforce and commented positively on the proposed plans. He added that the complex needs to last a minimum of 50 years and felt that the City is doing a good job, but will need to meet certain challenges, including funding. Councilmember Olson commented positively on the process and the Taskforce and agreed that the challenge will be to keep costs at a minimum. Vice Mayor Narum stated she was glad that the amphitheater remains in the plans and spoke positively regarding the second entrance. She asked regarding the transition from Main Street to the Bemal property and suggested consideration of a pedestrian bridge, over Bernal and incorporating some of the architectural features from buildings currently on Main Street. REGRESS — Vice Mayor Narum called for a recess at 8:36 p.m. The Council reconvened at 8:44 p.m. with all Councilmembers present, except Mayor Thome. 19. Consider whether the proceeds of the Jean P. Jones estate should be placed into an endowment managed and utilized by the Amador Livermore Valley Historical Society, or held and managed by the City to provide funds to the ALVHS to support Ms. Jones' goals of historic building preservation and local history Larissa Seto, Assistant City Attorney, provided a PowerPoint presentation addressing background of the bequest of the Jean P. Jones estate to the City of Pleasanton, prior City Council action and options for management of the estate proceeds. She addressed an endowment fund resolution wherein ALVHS proposes that the annual distributions from the proceeds not exceed 5% of the fund balance, specific uses for those distributions, that there be a budget process and majority vote provisions, reporting requirements, and that changes to the resolution be subject to City approval. The other option for Council to consider, is having the City of Pleasanton manage the proceeds and she provided details of the City's Finance Department including investment information and costs. She presented a • comparison of the two options including benefits and challenges, as well as staff recommendations. Councilmember Pentin inquired about the process for making changes in the agreement with Pleasanton Heritage Association (PHA). Staff noted that changes in desired yields would be reviewed by the City Attorney and would be presented to Council for approval. Vice Mayor Narum opened the item for public comment. Peter MacDonald, Endowment Executor, commented on Council's authorization to sell the assets of the Jean Jones Estate and reported that the endowment will be about $1,032,000. He presented a recap of activities since February, 2016, including the sale of the property and reported that the buyers researched its history and understand the requirements of historical preservation. Additionally, he presented next steps and recommended that the endowment be directed by ALVHS. City Council Minutes Page 5 of 7 May 3,2016