The Long Beach Community Investment Company

THE LONG BEACH COMMUNITY INVESTMENT COMPANY AGENDA WEDNESDAY, NOVEMBER 15, 2023 411 W. OCEAN BOULEVARD DEFOREST CONFERENCE ROOM, 3RD FLOOR, 4:00 PM Mary Castro, Chair Eva Melgarejo, Director Hilda Delgado, Vice Chair Alejandra Ramirez, Director Hakim Chambers, Director Elwood Sides, Director Jasmine Esparza, Director MEMBERS OF THE PUBLIC HAVE THE OPTION TO SUBMIT PUBLIC COMMENTS TO MONICA.JAIME@LONGBEACH.GOV CALL TO ORDER ROLL CALL PLEDGE OF ALLEGIANCE REGULAR AGENDA 1. 23-25745 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation. 2. 23-25747 Recommendation to approve the minutes of the Long Beach Community Investment Company meeting on October 23, 2023. Suggested Action: Approve recommendation. 3. 23-25753 Recommendation to authorize the President or designee to negotiate and enter into a Disposition and Development Agreement for conveyance 4151 E. Fountain Street to Linc Housing Corporation; and Approve a loan in the amount of $5,900,000 to Linc Housing Corporation to provide gap financing for the development of 4151 E. Fountain Street and 4220 Wehrle Court; and Authorize the President or designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements. Suggested Action: Approve recommendation. 4. 23-25754 Recommendation to approve the selection of Century Affordable Development, Inc. for an award of up to $5 Million in Permanent Local Housing Allocation (PLHA) and/or Community Development Block Grant (CDBG) funds; and Authorize the President or designee to enter into an Agreement to Negotiate Page 1 of 3  THE LONG BEACH COMMUNITY INVESTMENT COMPANY AGENDA WEDNESDAY, NOVEMBER 15, 2023 411 W. OCEAN BOULEVARD DEFOREST CONFERENCE ROOM, 3RD FLOOR, 4:00 PM Exclusively with Century Affordable Development, Inc. for the development of new affordable rental housing units. Suggested Action: Approve recommendation. 5. 23-25755 Recommendation to conduct public hearing on the Second Substantial Amendments to the Fiscal Year 2022-2023 (FY 2023) Action Plan for the expenditure of Community Development Block Grant (CDBG) and Fiscal Year 2021-2022 (FY 2022) Action Plan for the expenditure of Emergency Solutions Grant (ESG) and Home Investment Partnerships Program American Rescue Plan (HOME ARP) funds; accept public comment and recommend City Council approval. (Citywide) Suggested Action: Approve recommendation. 6. 23-25756 Recommendation to approve the selection of West Hollywood Community Housing Corporation (WHCHC) for an award of up to $7 Million in Permanent Local Housing Allocation (PLHA) and/or Community Development Block Grant (CDBG) funds; and Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with West Hollywood Community Housing Corporation for the development of new affordable rental housing units. Suggested Action: Approve recommendation. PUBLIC COMMENT Opportunity to address the The Long Beach Community Investment Company on non-agenda items. Each speaker is limited to three minutes to make their comments unless extended by the Chair. ANNOUNCEMENTS ADJOURNMENT I, Monica Jaime, Commission Secretary, certify that the agenda was posted not less than 72 hours prior to the meeting. NOTE: The agenda and supporting documents are available online at https://longbeach.gov/meetings. If a special accommodation is desired pursuant to the Americans with Disabilities Act, or if you need the agenda provided in an alternate format, please call the Community Development Department at (562) 570-3807 or (562) 570-6957 by 12 noon, the day prior to the meeting. Page 2 of 3  THE LONG BEACH COMMUNITY INVESTMENT COMPANY AGENDA WEDNESDAY, NOVEMBER 15, 2023 411 W. OCEAN BOULEVARD DEFOREST CONFERENCE ROOM, 3RD FLOOR, 4:00 PM Page 3 of 3