The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES John Thomas, Chair Lindsay Mais, Director Diane Arnold, Vice Chair Sabrina Sanders, Director Russell Doyle, Director Jan Ward, Director Patrice Wong, Director FINISHED AGENDA AND DRAFT MINUTES CALL TO ORDER Chair Thomas called the meeting to order at 4:08 PM. ROLL CALL Commissioners Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Present: Russell Doyle Commissioners Jan Ward and Sabrina Sanders Absent: STAFF PRESENT: Linda F. Tatum, President; Oscar Orci, Deputy Director; Meggan Sorensen, Housing Development Officer; Alem Hagos, Operations Officer; Amy Webber, Deputy City Attorney; Lisa Fall, Administrative & Financial Services Officer; Silvia Medina, Real Estate Project Coordinator; Kjell Stava, Real Estate Project Coordinator; Andrew Chang, Administrative Analyst; Kate Schiffman, Secretary. MEMBERS OF THE PUBLIC: Jeff Williams, Senior Project Manager - Bridge Housing; Ben Kurzius, Project Associate - MRK Partners. FLAG SALUTE Vice-Chair Arnold led the flag salute. REGULAR AGENDA Page 1 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 1. 19-021CI Recommendation to approve and file the minutes of the Regular Board meeting held Wednesday, April 17, 2019. Chair Thomas spoke Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. A motion was made by Vice Chair Arnold, seconded by Director Mais, to approve recommendation. The motion carried by the following vote: Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 2. 19-022CI Recommendation to approve and file the minutes of the Special Board meeting held on Wednesday, June 5, 2019. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. A motion was made by Vice Chair Arnold, seconded by Director Mais, to approve recommendation. The motion carried by the following vote: Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 4. 19-024CI Recommendation to: 1. Approve a HOME loan in the amount of $750,000 to MRK Partners Inc. for the acquisition, rehabilitation, and preservation of the property located at 3799 East Willow Street; Page 2 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with MRK Partners Inc.; and, 3. Authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement and the project. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. Meggan Sorensen, Housing Development Officer, spoke. Silvia Medina, Real Estate Project Coordinator, provided a staff report. Chair Thomas spoke. Vice Chair Arnold spoke. Discussion ensued. Ben Kurzius, MRK Partners, spoke. President Tatum spoke. Discussion ensued. Director Wong spoke. Discussion ensued. Director Mais 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: Page 3 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 3. 19-023CI Recommendation to Accept a donation from the Gotama Temple in the amount of $500 for the Neighborhood Leadership Program. Chair Thomas spoke. Lisa Fall, Administrative & Financial Services Officer, spoke. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Lisa Fall, Administrative & Financial Services Officer, discussed donation. Chair Thomas spoke. Director Wong spoke. Lisa Fall, Administrative & Financial Services Officer, spoke. Oscar Orci, Deputy Director, spoke. Director Mais spoke. President Tatum spoke. Discussion ensued. Director Doyle spoke. Discussion ensued. A motion was made by Director Wong, seconded by Director Doyle, to approve recommendation. The motion carried by the following vote: Page 4 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 5. 19-025CI Recommendation to: 1. Authorize the President or designee to negotiate and enter into a Disposition and Development Agreement for the conveyance of the properties at 469 W. 17th Street, 1720-1770 Magnolia Avenue and 469 W. Pacific Coast Highway to LINC Housing Corporation; 2. Approve a loan in the amount of up to $2,250,000 to LINC Housing Corporation to provide gap financing for the development of the properties at 469 W. 17th Street, 1720- 1770 Magnolia Avenue and 469 W. Pacific Coast Highway; and 3. Authorize the President or designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. Meggan Sorensen, Housing Development Officer, provided a staff report. Chair Thomas spoke. Director Doyle spoke. Discussion ensued. President Tatum spoke. Chair Thomas spoke. Page 5 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Mais spoke. Discussion ensued. A motion was made by Director Mais, seconded by Director Wong, to approve recommendation. The motion carried by the following vote: Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 6. 19-026CI Recommendation to: 1. Approve a HOME loan in the amount of up to $4,000,000 to BRIDGE Housing Corporation for the development of the properties located at 1205-1209 Walnut/1500 E. Anaheim Street; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with BRIDGE Housing Corporation; and, 3. Authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement and the project. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. Silvia Medina, Real Estate Project Coordinator, provided a staff report. Chair Thomas spoke. Jeff Williams, Bridge Housing, spoke. Chair Thomas spoke. Page 6 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Vice Chair Arnold spoke. Discussion ensued. Director Doyle spoke. Discussion ensued. Meggan Sorensen, Housing Development Officer, spoke. Discussion ensued. Director Mais spoke. Discussion ensued. Director Wong spoke. Discussion ensued. A motion was made by Director Doyle, seconded by Director Wong, to approve recommendation. The motion carried by the following vote: Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders PRESIDENT'S REPORT Chair Thomas spoke. President Tatum discussed homelessness in Long Beach. Chair Thomas spoke. Director Arnold spoke. Discussion ensued. Page 7 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Oscar Orci, Deputy Director, spoke. Discussion ensued. 7. 19-027CI Recommendation to: 1. Approve the selection of Home Ownership for Personal Empowerment (HOPE) for an award of CHDO funds in the amount of $1.2 million; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with HOPE for the acquisition and rehabilitation of housing for special needs individuals. Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. Silvia Medina, Real Estate Project Coordinator, provided a staff report. Chair Thomas spoke. Director Wong spoke. Discussion ensued. Meggan Sorensen, Housing Development Officer, spoke. Discussion ensued. Director Doyle spoke. Discussion ensued. Director Mais spoke. Discussion ensued. Page 8 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Vice Chair Arnold spoke. Discussion ensued. A motion was made by Director Wong, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 5 - Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Russell Doyle Absent: 2 - Jan Ward and Sabrina Sanders 8. 19-028CI Chair Thomas spoke. Kate Schiffman, Secretary, recited the recommendation. Chair Thomas spoke. Kate Schiffman, Secretary, spoke. Chair Thomas spoke. Director Mais spoke. Oscar Orci, Deputy Director, spoke. Director Mais requested e-mail distribution. Vice Chair Arnold requested hand-delivery. Director Wong spoke. Oscar Orci, Deputy Director, spoke. Director Wong spoke. Director Doyle spoke. Page 9 of 10 CITY OF LONG BEACH WEDNESDAY, JUNE 19, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Wong requested a link to LegiStar. Director Doyle requested a link to LegiStar. Chair Thomas spoke. Meggan Sorensen, Housing Development Officer, spoke. Oscar Orci, Deputy Director, spoke. Chair Thomas spoke. This CI-Agenda Item was received and filed. PUBLIC PARTICIPATION: There were no additional comments from the public. NEW BUSINESS Chair Thomas spoke. ADJOURNMENT Chair Thomas adjourned the meeting at 5:26 PM. Respectfully submitted, Respectfully submitted, ____________________ ____________________ Linda F. Tatum, President John Thomas, Chair ks Page 10 of 10