Economic Development Commission Revolving Loan Subcommittee

CITY OF LONG BEACH TUESDAY, NOVEMBER 28, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:30 PM LOAN SUBCOMMITTEE MINUTES Blair Cohn, Commissioner Walter Larkins, Commissioner Michelle Molina, Commissioner MEETING WAS CALLED TO ORDER AT 3:36 Staff Present: Seyed Jalali, Eric Romero, Bob Mossler Also present: Andria Martinez, NDC, Robert Olvera, Jr. EDC Commissioner ROLL CALL Members Present: Cohn, Molina and Larkins NEW BUSINESS 1. 17-057ED Recommendation to approve the minutes for the meeting held September 21, 2017. Attachments: EDC Loan Minutes 9-21-17.pdf Seyed Jalali, Economic Development Officer Spoke A motion was made by Commissioner Molina, seconded by Commissioner Cohn, to approved. The motion carried by the following vote: Yes: 3 - Cohn, Molina and Larkins 2. 17-055ED Recommendation to approve the loan modification request to change guarantor - Restauration LB, LLC dba Restauration, 2708 E. 4th Street , Long Beach, CA 90814 Attachments: Redacted - Credit Memo - Restauration Loan Modification.pdf Andria Martinez, NDC Spoke Page 1 of 3 CITY OF LONG BEACH TUESDAY, NOVEMBER 28, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:30 PM LOAN SUBCOMMITTEE MINUTES Commissioner Michelle Molina Spoke Seyed Jalali, Economic Development Officer Spoke Commissioner Walter Larkins Spoke Andria Martinez, NDC Spoke Commissioner Michelle Molina Spoke Commissioner Walter Larkins Spoke Andria Martinez, NDC Spoke Seyed Jalali, Economic Development Officer Spoke A motion was made by Commissioner Larkins, seconded by Commissioner Cohn, to approve recommendation. The motion carried by the following vote: Yes: 2 - Cohn and Larkins Abstain: 1 - Molina PUBLIC PARTICIPATION: Members of the public are invited to address the Committee on items of interest to the public within the Committee's jurisdiction. MEETING WAS ADJOURNED AT 3:49 I, Bob Mossler, Project Analyst, Economic and Property Development Department certify that the agenda was posted not less than 72 hours prior to the meeting. Signature: _____________________ Date: _________ Page 2 of 3 CITY OF LONG BEACH TUESDAY, NOVEMBER 28, 2017 ECONOMIC DEVELOPMENT 333 W. OCEAN BOULEVARD COMMISSION REVOLVING 3RD FLOOR CONFERENCE RM, 3:30 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 3 of 3