The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 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 Chair Thomas called the meeting to order at 4:02 PM. 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, President; Lisa Fall, Vice President; Rich Anthony, Deputy City Attorney; Alem Hagos, Grants Administration Officer; Silvia Medina, Administrative Analyst; Kjell Stava, Administrative Analyst; Andrew Chang, Administrative Analyst; Elizabeth Weithers, Administrative Analyst; Kate Brewer, Secretary. Members of the Public: Kristin Martin, Executive Director at Home Ownership for Personal Empowerment (H.O.P.E.); Daryl James, Director of Development & Asset Management at Home Ownership for Personal Empowerment (H.O.P.E.); Will Sager, Project Manager at LINC Housing; Luis Rodriguez, Project Manager at LINC Housing. FLAG SALUTE Director McDaniel led the flag salute. PRESIDENT'S REPORT Page 1 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. President Ure spoke. Vice President Fall spoke. Discussion ensued. PUBLIC HEARING 1. 18-013CI Recommendation to conduct the first public hearing and accept public input on the development of the 2018-2019 Annual Action Plan. Chair Thomas spoke. Rich Anthony, Deputy City Attorney, spoke. Chair Thomas spoke. President Ure spoke. Alem Hagos, Grants Administration Officer, provided a report. Director McDaniel spoke. Discussion ensued. Director Ward spoke. Vice Chair Arnold spoke. Chair Thomas spoke. Kristin Martin, H.O.P.E., spoke. Chair Thomas spoke. Director Ward spoke. Page 2 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. A motion was made by Director McDaniel, seconded by Director Ward, 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 REGULAR AGENDA 2. 18-014CI Recommendation to receive and file the minutes of the Regular Board meeting held Wednesday, March 21, 2018. Chair Thomas spoke. Vice Chair Arnold spoke. Director Ward spoke. Director McDaniel spoke. A motion was made by Vice Chair Arnold, seconded by Director Ward, to approve recommendation. The motion carried by the following vote: Yes: 3 - Jan Ward, John Thomas and Diane L. Arnold Abstain: 1 - Stacy McDaniel Absent: 3 - Patrice Wong, Russell Doyle and Sabrina Sanders 3. 18-015CI Recommendation to adopt the proposed budget of the Long Beach Community Investment Company for Fiscal Year 2018-2019 (FY19). Chair Thomas spoke. President Ure spoke. Page 3 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Kjell Stava, Administrative Analyst, provided a staff report. Chair Thomas spoke. Director McDaniel spoke. Discussion ensued. Director Ward spoke. Discussion ensued. Vice President Fall spoke. Discussion ensued. Daryl James, H.O.P.E., spoke. President Ure spoke. Discussion ensued. Alem Hagos, Grants Administration Officer, spoke. Discussion ensued. Elizabeth Weithers, Administrative Analyst, spoke. Discussion ensued. Vice Chair Arnold 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: 4 - Jan Ward, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 3 - Patrice Wong, Russell Doyle and Sabrina Sanders Page 4 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 4. 18-016CI Recommendation to 1. Approve a loan in the amount of $252,800 in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 1402 E. Washington Street; 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 to implement the Loan Agreement and the project. Chair Thomas spoke. President Ure spoke. Silvia Medina, Administrative Analyst, provided a staff report. Chair Thomas spoke. Kristin Martin, H.O.P.E., 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: 4 - Jan Ward, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 3 - Patrice Wong, Russell Doyle and Sabrina Sanders 5. 18-017CI Recommendation to 1. Approve an increase in the amount of $344,520 to the Notice of Funding Availability of HOME CHDO funds awarded to Home Ownership for Personal Empowerment on September 20, 2017; 2. Approve a loan in the amount of $875,920 in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 116 Redondo Avenue; Page 5 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 3. Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and, 4. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project. Chair Thomas spoke. President Ure spoke. Silvia Medina, Administrative Analyst, provided a staff report. Discussion ensued. Director McDaniel spoke. Chair Thomas spoke. Director Ward 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: 4 - Jan Ward, John Thomas, Stacy McDaniel and Diane L. Arnold Absent: 3 - Patrice Wong, Russell Doyle and Sabrina Sanders 6. 18-018CI Recommendation to authorize the President or designee to enter into an Agreement to Negotiate Exclusively with LINC Housing Corporation for the purchase and development of 469 W. 17th Street, 1720-1770 Magnolia Avenue and 469 W. Pacific Coast Highway. Chair Thomas spoke. President Ure spoke. Andrew Chang, Administrative Analyst, provided a staff report. Page 6 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. Director McDaniel spoke. Director Ward spoke. Vice Chair Arnold spoke. Discussion ensued. Will Sager, LINC Housing, spoke. Luis Rodriguez, LINC Housing, spoke. Director Ward spoke. Discussion ensued. A motion was made by Director McDaniel, seconded by Director Ward, 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 PUBLIC PARTICIPATION: There were no additional comments from the Public. NEW BUSINESS Chair Thomas spoke. Director McDaniel provided her letter of resignation from the Long Beach Community Investment Company. Director Ward spoke. Vice Chair Arnold spoke. Page 7 of 8 CITY OF LONG BEACH WEDNESDAY, APRIL 18, 2018 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Mc Daniel spoke. Chair Thomas spoke. President Ure spoke. Director McDaniel spoke. Vice Chair Arnold spoke. Chair Thomas spoke. Alem Hagos, Grants Administration Officer, spoke. Discussion ensued. ADJOURNMENT Chair Thomas adjourned the meeting at 5:04 PM. Respectfully Submitted, ____________________ ____________________ Patrick Ure, President John Thomas, Chair kb Page 8 of 8