The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, NOVEMBER 8, 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 SPECIAL MEETING DRAFT MINUTES CALL TO ORDER At 4:04 PM, Chair Thomas called the meeting to order. ROLL CALL Commissioners Jan Ward, John Thomas, Stacy McDaniel and Diane L. Arnold Present: Commissioners Patrice Wong, Russell Doyle and Sabrina Sanders Absent: Staff Present: Patrick Ure, Vice President; Meggan Sorensen, Development Project Manager; Rich Anthony, Deputy City Attorney; Silvia Medina, Community Program Specialist; Kjell Stava, Administrative Analyst; Andrew Chang, Administrative Analyst; Kate Brewer, Secretary. Members of the Public: Kristin Martin, Executive Director - Home Ownership for Personal Empowerment (HOPE); Rosie Diaz, Project Manager - Home Ownership for Personal Empowerment (HOPE). FLAG SALUTE Chair Thomas led the flag salute. PRESIDENT'S REPORT Chair Thomas spoke. Page 1 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 8, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Vice President Ure provided community updates such as the Grand Opening of Anchor Place, the continuation of construction at The Beacon, final closing stage for the rehabilitation of the Beachwood Apartments, as well as information on the League of Cities Briefing. Chair Thomas spoke. SPECIAL AGENDA 1. 17-037CI Recommendation to receive and file the minutes of the Regular Board Meeting held Wednesday, October 18, 2017. Chair Thomas spoke. A motion was made by Director McDaniel, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 4 - Jan Ward, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 3 - Patrice Wong, Russell Doyle and Sabrina Sanders SECOND ROLL CALL Commissioners Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel, Diane Present: L. Arnold, Russell Doyle and Sabrina Sanders 2. 17-038CI Recommendation to 1. Approve a loan in the amount of $164,000 in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 3210 East Curry Street, or a comparable property at the same cost; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and, 3. Authorize the President to execute any and all documents necessary Page 2 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 8, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES to implement the Loan Agreement and the project. Chair Thomas spoke. Vice President Ure spoke. Silvia Medina, Community Program Specialist, provided a staff report. Vice President Ure spoke. Discussion ensued. Kristin Martin, Executive Director of HOPE, spoke. Discussion ensued. Director McDaniel spoke. Discussion ensued. Director Wong spoke. Discussion ensued. A motion was made by Vice Chair Arnold, seconded by Director Wong, to approve recommendation. The motion carried by the following vote: Yes: 7 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel, Diane L. Arnold, Russell Doyle and Sabrina Sanders 3. 17-039CI Recommendation to 1. Approve a loan in the amount of $165,800 in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 2800 Baltic Avenue, or a comparable property at the same cost; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and, 3. Authorize the President to execute any and all documents necessary Page 3 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 8, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES to implement the Loan Agreement and the project. Chair Thomas spoke. Vice President Ure spoke. Silvia Medina, Community Program Specialist, provided a staff report. Chair Thomas spoke. Director Doyle spoke. Kristin Martin, Executive Director of HOPE, spoke. Discussion ensued. Director Ward spoke. Discussion ensued. Director McDaniel spoke. Vice President Ure spoke. Director Wong spoke. Discussion ensued. A motion was made by Director Ward, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 7 - Jan Ward, Patrice Wong, John Thomas, Stacy McDaniel, Diane L. Arnold, Russell Doyle and Sabrina Sanders PUBLIC PARTICIPATION: There were no additional comments from the Public. NEW BUSINESS Chair Thomas spoke. Page 4 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 8, 2017 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Sanders spoke. Vice President Ure spoke. Discussion ensued. Director McDaniel spoke. Discussion ensued. Director Doyle spoke. Discussion ensued. Vice Chair Arnold spoke. Discussion ensued. Director Wong spoke. Discussion ensued. ADJOURNMENT At 4:50 PM, Chair Thomas adjourned the meeting. Respectfully submitted, ____________________ ____________________ Patrick Ure, Vice President John Thomas, Chair Page 5 of 5