The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, OCTOBER 16, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM John Thomas, Chair Lindsay Mais, Director Diane Arnold, Vice Chair Sabrina Sanders, Director Russell Doyle, Director Jan Ward, Director Patrice Wong, Director FINISHED AGENDA & DRAFT MINUTES CALL TO ORDER Chair Thomas called the meeting to order at 4:00 PM. ROLL CALL Commissioners Jan Ward, Patrice Wong, John Thomas, Lindsay Mais, Diane L. Present: Arnold and Sabrina Sanders Commissioners Russell Doyle Absent: STAFF PRESENT: Linda Tatum, President; Patrick Ure, Vice President; Oscar Orci, Deputy Director of Development Services; Meggan Sorensen, Housing Development Officer; Alem Hagos, Operations Officer; Rich Anthony, Deputy City Attorney; Silvia Medina, Real Estate Project Coordinator; Kjell Stava, Real Estate Project Coordinator; Andrew Chang, Administrative Analyst; Nikki Amick, Community Program Specialist; Monica Jaime, Secretary. MEMBERS OF THE PUBLIC: Oscar Alvarado, Director of Development, Century Housing; Gilbert Gonzales, Project Manager, Century Housing. FLAG SALUTE Vice Chair Arnold led the flag salute. PRESIDENT'S REPORT Page 1 of 5 CITY OF LONG BEACH WEDNESDAY, OCTOBER 16, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM President Linda Tatum spoke. REGULAR AGENDA 1. 19-035CI Recommendation to approve and file the minutes of the Regular Board meeting held on Wednesday, August 21, 2019. Chair Thomas spoke. Monica Jaime, Secretary, read agenda recommendation. A motion was made by Vice Chair Arnold, seconded by Director Ward, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Sabrina Sanders Absent: 1 - Russell Doyle 2. 19-036CI Recommendation to: 1. Approve a CDBG loan in the amount of $1.5 million to Century Affordable Development Inc. for the acquisition of 6801 Atlantic Avenue; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Century Affordable Development 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. Monica Jaime, Secretary, read agenda recommendation. Vice President Ure, presented the staff report. Page 2 of 5 CITY OF LONG BEACH WEDNESDAY, OCTOBER 16, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Director Wong spoke. Vice President Ure spoke. Oscar Alvarado, Director of Development, Century Housing, spoke. Director Wong spoke. Director Ward spoke. President Tatum spoke. Chair Thomas spoke. Vice Chair Arnold spoke. Director Wong spoke. President Tatum spoke. Vice Chair Arnold spoke. President Tatum spoke. Director Mais spoke. President Tatum spoke. Chair Thomas spoke. Discussion ensued. Director Ward spoke. Vice President Ure spoke. Director Ward spoke. Director Wong spoke. Page 3 of 5 CITY OF LONG BEACH WEDNESDAY, OCTOBER 16, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Vice President Ure spoke. Chair Thomas spoke. Discussion ensued. Oscar Alvarado, Director of Development, Century Housing, spoke. Chair Thomas spoke. Vice Chair Arnold spoke. Vice President Ure spoke. Director Wong spoke. Chair Thomas spoke. Vice President Ure spoke. Director Ward spoke. Chair Thomas spoke. A motion was made by Director Ward, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, Patrice Wong, John Thomas, Lindsay Mais, Diane L. Arnold and Sabrina Sanders Absent: 1 - Russell Doyle PUBLIC PARTICIPATION: There were no additional comments from the public. NEW BUSINESS ADJOURNMENT Page 4 of 5 CITY OF LONG BEACH WEDNESDAY, OCTOBER 16, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Chair Thomas adjourned the meeting at 4:50 p.m. Respectfully submitted, Respectfully submitted, __________________________ __________________________ Linda Tatum, President Diane Arnold, Vice Chair Page 5 of 5