The Long Beach Community Investment Company

CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES John Thomas, Chair Jan Ward, Director Diane Arnold, Vice Chair Patrice Wong, Director Stacy McDaniel, Director Sabrina Sanders, Director Russell Doyle, Director FINISHED AGENDA AND DRAFT MINUTES CALL TO ORDER At 4:03 PM, Chair Thomas called the meeting to order. ROLL CALL Commissioners Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Present: Diane L. Arnold Commissioners Sabrina Sanders and Russell Doyle Absent: Staff Present: Amy Bodek, President; Patrick Ure, Vice President; Oscar Orci, Deputy Director of Development Services; Meggan Sorensen, Development Project Manager; Rich Anthony, Deputy City Attorney; Lisa Fall, Administrative and Financial Services Bureau Manager; Alem Hagos, Grants Administration Officer; Andrew Chang, Administrative Analyst; Kjell Stava, Administrative Analyst; Kate Brewer, Secretary. FLAG SALUTE Director Ward led the flag salute. CLOSED SESSION At 4:05 PM, there being no objection, Chair Thomas recessed the meeting to closed session. Page 1 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 1. Conference with Real Property Negotiator pursuant to Government Code §54956.8 (Acquisition of Properties) APN: 7253-026-029 Address: 4151 E. Fountain Street LBCIC Negotiator: Amy J. Bodek, President Negotiating Parties: Childnet Youth and Family Under Negotiation: Price and Terms of Acquisition 2. Conference with Real Property Negotiator pursuant to Government Code §54956.8 (Acquisition of Properties) APN: 7218-005-900 Address: 5571 Orange Avenue LBCIC Negotiator: Amy J. Bodek, President Negotiating Parties: City of Long Beach Under Negotiation: Price and Terms of Acquisition • Status of Development Projects • Board Attendance Discussion • Report on Revenue Tools and Incentives for the Production of Affordable and Workforce Housing REGULAR AGENDA At 4:29 PM, Chair Thomas reconvened to the regular meeting. 1. 17-016CI Recommendation to receive and file the minutes of the Regular Board meeting held Wednesday, March 15, 2017. Chair Thomas spoke. Page 2 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES A motion was made by Vice Chair Arnold, seconded by Director Ward, to approve recommendation. The motion carried by the following vote: Yes: 5 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 2 - Sabrina Sanders and Russell Doyle 2. 17-017CI Recommendation to elect The Long Beach Community Investment Company (LBCIC) Chair and Vice Chair. Chair Thomas spoke. Vice Chair Arnold spoke. Director McDaniel spoke. Vice Chair Arnold spoke. Chair Thomas spoke. Director Ward spoke. Chair Thomas spoke. Director Ward spoke. Chair Thomas spoke. Deputy Director Rich Anthony spoke. Chair Thomas spoke. Director Ward spoke. Director McDaniel spoke. Chair Thomas spoke. Page 3 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES A motion was made by Vice Chair Arnold, seconded by Director Ward, to elect John Thomas as Chair. The motion carried by the following vote: Yes: 5 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 2 - Sabrina Sanders and Russell Doyle A motion was made by Chair Thomas, seconded by Director McDaniel, to elect Diane Arnold as Vice Chair. The motion carried by the following vote: Yes: 5 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 2 - Sabrina Sanders and Russell Doyle 3. 17-018CI Recommendation to 1. Approve a loan in the amount of $4,000,000 to AMCAL Multi-Housing, Inc. for the acquisition of the property located at 1795 Long Beach Boulevard; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and, 3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project. Chair Thomas spoke. Vice President Ure provided a staff report. Chair Thomas spoke. Director McDaniel spoke. Discussion ensued. Page 4 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Vice Chair Arnold spoke. Vice President Ure spoke. Director McDaniel spoke. AMCAL spoke. Discussion ensued. Director Ward spoke. President Bodek spoke. Discussion ensued. Director Wong spoke. Discussion ensued. Grants Administration Officer, Alem Hagos, spoke. Discussion ensued. Administrative and Financial Services Bureau Manager, Lisa Fall, spoke. Discussion ensued. A motion was made by Director Wong, seconded by Director McDaniel, to approve recommendation. The motion carried by the following vote: Yes: 5 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 2 - Sabrina Sanders and Russell Doyle 4. 17-019CI Recommendation to adopt the proposed budget of the Long Beach Community Investment Company for Fiscal Year 2017-2018 (FY18). Page 5 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. Administrative and Financial Services Bureau Manager, Lisa Fall, spoke. Deputy City Attorney, Rich Anthony, spoke. President Bodek spoke. Administrative Analyst, Kjell Stava, provided a staff report. Chair Thomas spoke. Discussion ensued. Director McDaniel spoke. Discussion ensued. Director Wong spoke. Vice President Ure spoke. Discussion ensued. A motion was made by Director McDaniel, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 5 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 2 - Sabrina Sanders and Russell Doyle STUDY SESSION 5. 17-020CI 2018-2022 Consolidated Plan President Bodek spoke. Page 6 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Grants Administration Officer, Alem Hagos, provided a staff report. Director McDaniel spoke. Discussion ensued. Director Wong spoke. Discussion ensued. Vice President Ure spoke. Discussion ensued. Chair Thomas spoke. Discussion ensued. Director Ward spoke. Discussion ensued. Administrative and Financial Services Bureau Manager, Lisa Fall, spoke. Discussion ensued. Deputy Director of Development Services, Oscar Orci, spoke. Discussion ensued. Director Wong spoke. Discussion ensued. PRESIDENT'S REPORT President Bodek provided community updates. Page 7 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES PUBLIC PARTICIPATION: Members of the public are invited to address the Board on items of interest to the public within the Agency Board jurisdiction. Each speaker will be limited to two minutes unless that time is extended by the Chair. No members of the public were present. NEW BUSINESS Director Wong spoke. President Bodek spoke. Chair Thomas spoke. President Bodek spoke. Vice Chair Arnold spoke. Director McDaniel spoke. Director Ward spoke. Chair Thomas spoke. Administrative and Financial Services Bureau Manager, Lisa Fall, spoke. Discussion ensued. Vice President Ure spoke. Grants Administrative Officer, Alem Hagos, spoke. Chair Thomas spoke. ADJOURNMENT At 6:13 PM, Chair Thomas adjourned the meeting. Respectfully submitted, Page 8 of 9 CITY OF LONG BEACH THURSDAY, MAY 25, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES ____________________ ____________________ Amy J. Bodek, President John Thomas, Chair Page 9 of 9