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. expansion, through private and grant funding, of the Bowers Museum of an additional 30,000 square feet to house the first ongoing British Museum exhibits outside of the United Kingdom; . enhancing the Museum District through the development of a mixed-use project with 44 courtyard residential units above neighborhood-serving retail uses fronting on Main Street just south of the Bowers Museum; and . expansion of the Discovery Science Center with additional outdoor exhibits and themed areas. The City's commitment to the Arts has expanded an already vibrant Downtown, with increasing commercial and residential investment in the area. A new "Media District" consisting of advertising and post-production firms has emerged along with an entirely new neighborhood of residents who are enjoying an active and stimulating urban experience. Live theater groups and art galleries continue to support a thriving Artists Village, while we continue to pursue retail uses complementary to the Village. The success ofthe Village will support additional private investment in the rehabilitation of the historic building throughout the Downtown, which will enable the City to maintain and enhance its unique urban downtown character, one that is unmatched in Orange County. G. Recruit and Retain a Highlv-Skilled and Diverse Workforce As an integral element of the customer service program, the City continues its outreach effort to recruit applicants that can provide quality services to our multi-cultural, multi-lingual community. As a result of this program, over 74 percent of the individuals hired during the 2004-2005 fiscal year were from ethnic minority backgrounds and the overall minority representation in the City's workforce climbed above 59 percent. Hispanic Americans now comprise the largest employee ethnic group in the City's workforce, representing 49 percent of the employee population. Over the past several years, the City has received recognition and many awards for this innovative quality approach to advancing workforce diversity. H. Ensure the City's Long-Term Financial Ability to Deliver Ouality Services Ensuring the City's financial security is a fundamental responsibility of the administration of our organization. In addition to the ongoing fiduciary functions, the City's strategy for our long-term financial ability to deliver quality services includes: . aggressively seeking grant monies available to local government to fund capital projects, promote information system efficiencies or enhance operations; . refinancing debt to reduce our annual payments by capitalizing on lower interest rates; . actively pursuing competitive bids for goods, services, and capital projects; . providing adequate reserves for liability and workers compensation funds; and . minimizing credit and market risks while maintaining a competitive yield on the City's investment portfolio. In 2005-2006, the City will continue to research grant opportunities provided by the Federal and State governments and aggressively apply for programs that are in alignment with our 10 Resolution No. eRA 2005-003 Page 170122