Economic Development Commission Revolving Loan Subcommittee

CITY OF LONG BEACH FRIDAY, MAY 13, 2016 ECONOMIC DEVELOPMENT 333 W. OOCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 2:00 PM LOAN SUBCOMMITTEE MINUTES Blair Cohn, Commissioner Walter Larkins, Commissioner Michelle Molina, Commissioner FINISHED AGENDA AND DRAFT MINUTES CALL TO ORDER At 2:13 PM the meeting was called to order. ROLL CALL Members Present: Cohn, Molina and Larkins Also present: EPD Officer Seyed Jalali; Diana Sasser, National Development Council. CONSENT CALENDAR 1. 16-021ED Recommendation to approve the minutes for the meeting held January 13, 2016. Attachments: 16-021ED EDC RLF Minutes 01.13.16.pdf 2:13 PM EPD Officer Seyed Jalali spoke This ED-Agenda Item was approve recommendation. Yes: 3 - Cohn, Molina and Larkins REGULAR AGENDA 2. 16-022ED Recommendation to approve the loan application in the amount of Page 1 of 5 CITY OF LONG BEACH FRIDAY, MAY 13, 2016 ECONOMIC DEVELOPMENT 333 W. OOCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 2:00 PM LOAN SUBCOMMITTEE MINUTES $300,000 for Sararee Corporation, DBA Blue Haven Thai Cuisine, 740 E. Broadway, Long Beach, CA 90802 (Council District 2). Attachments: Credit Memo Sararee Corp DBA Blue Haven Thai Cuisine.pdf 2:13 PM EPD Officer Seyed Jalali spoke 2:14 PM Commissioner Walter Larkins spoke 2:14 PM Commissioner Michelle Molina spoke 2:14 PM Diana Sasser spoke 2:14 PM Commissioner Michelle Molina spoke 2:14 PM EPD Officer Seyed Jalali spoke 2:17 PM Commissioner Michelle Molina spoke 2:17 PM EPD Officer Seyed Jalali spoke 2:17 PM Commissioner Walter Larkins spoke 2:17 PM Commissioner Michelle Molina spoke 2:17 PM EPD Officer Seyed Jalali spoke 2:18 PM Commissioner Walter Larkins spoke 2:18 PM Diana Sasser spoke 2:18 PM Commissioner Walter Larkins spoke 2:18 PM Diana Sasser spoke 2:18 PM Commissioner Walter Larkins spoke 2:19 PM Diana Sasser spoke 2:19 PM Commissioner Walter Larkins spoke 2:19 PM Diana Sasser spoke 2:19 PM Commissioner Walter Larkins spoke 2:19 PM EPD Officer Seyed Jalali spoke 2:19 PM Diana Sasser spoke 2:19 PM EPD Officer Seyed Jalali spoke 2:19 PM Commissioner Walter Larkins spoke 2:19 PM EPD Officer Seyed Jalali spoke 2:20 PM Diana Sasser spoke 2:20 PM EPD Officer Seyed Jalali spoke 2:20 PM Commissioner Walter Larkins spoke 2:21 PM Commissioner Michelle Molina spoke 2:21 PM Commissioner Walter Larkins spoke 2:21 PM Commissioner Michelle Molina spoke 2:21 PM EPD Officer Seyed Jalali spoke 2:21 PM Commissioner Michelle Molina spoke 2:21 PM Diana Sasser spoke 2:21 PM Commissioner Walter Larkins spoke 2:21 PM Commissioner Michelle Molina spoke 2:21 PM Diana Sasser spoke 2:22 PM Commissioner Walter Larkins spoke 2:22 PM Diana Sasser spoke Page 2 of 5 CITY OF LONG BEACH FRIDAY, MAY 13, 2016 ECONOMIC DEVELOPMENT 333 W. OOCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 2:00 PM LOAN SUBCOMMITTEE MINUTES 2:22 PM Commissioner Michelle Molina spoke 2:22 PM EPD Officer Seyed Jalali spoke 2:26 PM Commissioner Michelle Molina spoke 2:26 PM EPD Officer Seyed Jalali spoke 2:27 PM Commissioner Walter Larkins spoke 2:27 PM EPD Officer Seyed Jalali spoke 2:29 PM Diana Sasser spoke 2:30 PM Commissioner Walter Larkins spoke 2:30 PM EPD Officer Seyed Jalali spoke 2:30 PM Commissioner Walter Larkins spoke 2:30 PM EPD Officer Seyed Jalali spoke 2:31 PM Commissioner Michelle Molina spoke 2:31 PM EPD Officer Seyed Jalali spoke 2:31 PM Commissioner Michelle Molina spoke 2:31 PM Commissioner Walter Larkins spoke 2:32 PM Commissioner Michelle Molina spoke 2:32 PM Commissioner Walter Larkins spoke 2:32 PM Commissioner Michelle Molina spoke 2:32 PM EPD Officer Seyed Jalali spoke 2:32 PM Commissioner Walter Larkins spoke 2:32 PM Commissioner Michelle Molina spoke 2:32 PM EPD Officer Seyed Jalali spoke 2:32 PM Diana Sasser spoke 2:33 PM Commissioner Walter Larkins spoke 2:33 PM Commissioner Michelle Molina spoke 2:33 PM Commissioner Walter Larkins spoke 2:33 PM EPD Officer Seyed Jalali spoke 2:33 PM Commissioner Michelle Molina spoke 2:33 PM EPD Officer Seyed Jalali spoke 2:33 PM Commissioner Walter Larkins spoke 2:33 PM Commissioner Michelle Molina spoke 2:33 PM Commissioner Walter Larkins spoke 2:33 PM EPD Officer Seyed Jalali spoke 2:34 PM Commissioner Michelle Molina spoke 2:34 PM EPD Officer Seyed Jalali spoke 2:34 PM Commissioner Michelle Molina spoke 2:34 PM Commissioner Walter Larkins spoke 2:34 PM Commissioner Michelle Molina spoke 2:34 PM Commissioner Walter Larkins spoke 2:34 PM Commissioner Michelle Molina spoke 2:34 PM Commissioner Walter Larkins spoke 2:34 PM EPD Officer Seyed Jalali spoke 2:35 PM Commissioner Walter Larkins spoke 2:35 PM EPD Officer Seyed Jalali spoke Page 3 of 5 CITY OF LONG BEACH FRIDAY, MAY 13, 2016 ECONOMIC DEVELOPMENT 333 W. OOCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 2:00 PM LOAN SUBCOMMITTEE MINUTES 2:35 PM Commissioner Walter Larkins spoke 2:35 PM Commissioner Michelle Molina spoke 2:35 PM Commissioner Walter Larkins spoke 2:35 PM Commissioner Michelle Molina spoke 2:35 PM EPD Officer Seyed Jalali spoke 2:35 PM Commissioner Michelle Molina spoke 2:35 PM EPD Officer Seyed Jalali spoke 2:35 PM Commissioner Walter Larkins spoke 2:35 PM EPD Officer Seyed Jalali spoke 2:35 PM Commissioner Michelle Molina spoke 2:36 PM Commissioner Walter Larkins spoke 2:36 PM Commissioner Michelle Molina spoke 2:37 PM Diana Sasser spoke 2:37 PM Commissioner Michelle Molina spoke 2:37 PM EPD Officer Seyed Jalali spoke 2:38 PM Commissioner Walter Larkins spoke 2:38 PM EPD Officer Seyed Jalali spoke 2:38 PM Commissioner Walter Larkins spoke 2:38 PM EPD Officer Seyed Jalali spoke 2:38 PM Commissioner Walter Larkins spoke A motion was made by Commissioner Cohn, seconded by Commissioner Molina, to approve recommendation. The motion carried by the following vote: Yes: 3 - Cohn, Molina and Larkins PUBLIC PARTICIPATION: Members of the public are invited to address the Committee on items of interest to the public within the Committee's jurisdiction. There was no public participation at this time. ADJOURNMENT At 2:39 PM the meeting was adjourned. I, Jim Fisk, Program Manager certify that the agenda was posted not less than 24 hours prior to the meeting. ________________________ Date: _____________ Page 4 of 5 CITY OF LONG BEACH FRIDAY, MAY 13, 2016 ECONOMIC DEVELOPMENT 333 W. OOCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 2:00 PM LOAN SUBCOMMITTEE MINUTES Note: The City of Long Beach intends to provide reasonable accommodations in accordance with the Americans with Disabilities Act of 1990. If a special accommodation is desired, please call Jim Fisk 48 hours prior to the Economic Development Commission Revolving Loan Fund Subcommittee meeting at (562) 570-3863. This information is available in an alternative format by request to Jim Fisk at (562) 570-3863. For correspondence purposes you can reach City staff at jim.fisk@longbeach.gov. Page 5 of 5