Economic Development Commission Revolving Loan Subcommittee

CITY OF LONG BEACH THURSDAY, SEPTEMBER 21, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:00 PM LOAN SUBCOMMITTEE MINUTES Blair Cohn, Commissioner Walter Larkins, Commissioner Michelle Molina, Commissioner MEETING WAS CALLED TO ORDER AT 3:12 P.M. Staff Present: Seyed Jalali, Eric Romero, Bob Mossler Also present: Andria Martinez, NDC Members Present: Cohn and Molina Members Absent: Larkins ROLL CALL NEW BUSINESS 1. Recommendation to approve the minutes for the meeting held August 7, 2017. Attachments: REVOLVING LOAN SUBCOMMITTEE -MINUTES 8-7-17.pdf 3:12 Seyed Jalali, City of Long Beach Economic Development Officer Spoke A motion was made by Commissioner Cohn, seconded by Commissioner Molina, to approve recommendation. The motion carried by the following vote: Yes: 2 - Cohn and Molina Absent: 1 - Larkins 2. Recommendation to approve the revolving loan application in the amount of $75,000 for Amir Zolghadr and Kamran Assadi DBA UTOPIA Page 1 of 4 CITY OF LONG BEACH THURSDAY, SEPTEMBER 21, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:00 PM LOAN SUBCOMMITTEE MINUTES GOOD FOOD AND FINE ART 445 East 1st St. Long Beach, CA 90802 Attachments: Utopia II - Credit Memo.pdf 3:13: Seyed Jalali, City of Long Beach Economic Development Officer Spoke 3:16 Andria Martinez, NDC Spoke 3:26 Seyed Jalali, City of Long Beach Economic Development Officer Spoke 3:27 Commissioner Michelle Molina Spoke 3:27 Andria Martinez, NDC Spoke 3:28 Dialogue Ensued Between Commissioner Michelle Molina and Andria Martinez, NDC 3:28 Seyed Jalali, City of Long Beach Economic Development Officer Spoke A motion was made by Commissioner Molina, seconded by Commissioner Cohn, to approve recommendation. The motion carried by the following vote: Yes: 2 - Cohn and Molina Absent: 1 - Larkins 3. Recommendation to approve the revolving loan application in the amount of $95,000 for Gina Woodruff DBA AIM LIVING SERVICES INC. 5555 E. Stearns Suite 203, Long Beach, CA 90815 Attachments: Credit Memo - AIM -.pdf 3:30 Seyed Jalali, City of Long Beach Economic Development Officer Spoke 3:31 Andria Martinez, NDC Spoke 3:40 Commissioner Michelle Molina Spoke 3:41 Dialogue Ensued Between Commissioner Michelle Molina and Andria Martinez, NDC 3:53 Seyed Jalali, City of Long Beach Economic Development Officer Spoke 3:53 Andria Martinez, NDC Spoke 3:54 Dialogue Ensued Between Seyed Jalali, City of Long Beach Economic Development Officer and Andria Martinez, NDC 3:55 Commissioner Michelle Molina Spoke 3:56 Andria Martinez, NDC Spoke 3:56 Dialogue Ensued Between Commissioner Michelle Molina and Andria Martinez, NDC Page 2 of 4 CITY OF LONG BEACH THURSDAY, SEPTEMBER 21, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:00 PM LOAN SUBCOMMITTEE MINUTES 3:57 Seyed Jalali, City of Long Beach Economic Development Officer Spoke 3:57 Andria Martinez, NDC Spoke 3:58 Commissioner Michelle Molina Spoke 3:58 Dialogue Ensued Between Commissioner Michelle Molina and Andria Martinez, NDC 4:00 Commissioner Blair Cohn Spoke 4:01 Andria Martinez, NDC Spoke 4:02 Commissioner Michelle Molina spoke 4:04 Andria Martinez, NDC spoke 4:05 Dialogue Ensued Between Commissioner Michelle Molina and Andria Martinez, NDC 4:06 Seyed Jalali, City of Long Beach Economic Development Officer spoke 4:06 Commissioner Michelle Molina spoke 4:08 Commissioner Blair Cohn spoke 4:08 Commissioner Michelle Molina spoke 4:08 Andria Martinez, NDC spoke 4:09 Commissioner Michelle Molina spoke 4:09 Seyed Jalali, City of Long Beach Economic Development Officer spoke 4:10 Andria Martinez, NDC spoke A motion was made by Commissioner Molina, seconded by Commissioner Cohn, to deny recommendation. The motion carried by the following vote: Yes: 2 - Cohn and Molina Absent: 1 - 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. ADJOURNMENT I, Bob Mossler, Project Analyst, Economic and Property Development Department certify that the agenda was posted not less than 24 hours prior to the meeting. Signature: _____________________ Date: _________ Page 3 of 4 CITY OF LONG BEACH THURSDAY, SEPTEMBER 21, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:00 PM LOAN SUBCOMMITTEE MINUTES Note: The Economic Development Commission Revolving Loan Subcommittee agenda and supporting documents are available on the Internet at http://longbeach.legistar.com/Calendar.aspx. Agenda items may also be reviewed in the Office of the City Clerk or online at the Main Library and at the Branch Libraries. Persons interested in obtaining an agenda via email should send an email request to the Clerk of the Economic Development Commission at robert.mossler@longbeach.gov. Any supplemental writings or documents regarding an agenda item that are distributed to a majority of the Economic Development Commission after the posting of this agenda will be available for public inspection in the Office of the City Clerk during normal business hours and available on the internet at: “http://longbeach.legistar.com/Calendar.aspx." 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 Bob Mossler 48 hours prior to the Economic Development Commission meeting at (562) 570-5503. This information is available in an alternative format by request to Bob Mossler at (562) 570-5503. For correspondence purposes you can reach City staff at robert.mossler@longbeach.gov. Page 4 of 4