The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, NOVEMBER 20, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Diane Arnold, Vice Chair Lindsay Mais, Director Hilda Delgado, Director Sabrina Sanders, Director Russell Doyle, Director Jan Ward, Director Patrice Wong, Director FINISHED AGENDA & DRAFT MINUTES CALL TO ORDER Director Sanders called the meeting to order at 4:00 p.m. ROLL CALL Commissioners Hilda Delgado, Russell Doyle, Lindsay Mais, Sabrina Sanders, Present: Jan Ward and Diane L. Arnold Commissioners Patrice Wong Absent: STAFF PRESENT: Linda Tatum, President; Patrick Ure, Vice President; Meggan Sorensen, Housing Development Officer; Alem Hagos, Operations Officer; Rich Anthony, Deputy City Attorney; Kjell Stava, Real Estate Project Coordinator; Monica Jaime, Secretary. MEMBERS OF THE PUBLIC: Brooke Baker, Board Member of Rose Park Neighborhood Association; Gretchen Swansen, Board Member of Rose Park Neighborhood Association. FLAG SALUTE Attorney Anthony led the flag salute. PRESIDENT'S REPORT President Linda Tatum spoke. Page 1 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 20, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM REGULAR AGENDA 1. 19-038CI Recommendation to approve and file the minutes of the Regular Board meeting held on Wednesday, October 16, 2019. Director Sanders spoke. Monica Jaime, Secretary, read agenda recommendations. A motion was made by Director Mais, seconded by Director Doyle, to approve recommendation. The motion carried by the following vote: Yes: 6 - Hilda Delgado, Russell Doyle, Lindsay Mais, Sabrina Sanders, Jan Ward and Diane L. Arnold Absent: 1 - Patrice Wong 2. 19-037CI Recommendation to: Approval of a loan amendment and prepayment by 1643 Pacific, LP in conjunction with the sale of Pacific City Lights Apartments located at 1643 Pacific Avenue (CD 1). Director Sanders spoke. Monica Jaime, Secretary, read agenda recommendation. Megan Sorenson, Housing Development Officer, presented the staff report. Director Sanders spoke. Director Mais spoke. Vice President Ure spoke. Director Mais spoke. Vice President Ure spoke. Page 2 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 20, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Director Mais spoke. Vice President Ure spoke. Director Mais spoke. Megan Sorensen, Housing Development Officer, spoke. Vice President Ure spoke. Director Mais spoke. Vice President Ure spoke. Director Doyle spoke. Vice President Ure spoke. Director Mais spoke. Director Doyle spoke. Vice President Ure spoke. Megan Sorensen, Housing Development Officer, spoke. Attorney Anthony spoke. Director Doyle spoke. President Tatum spoke. Discussion ensued. Director Delgado spoke. Vice President Ure spoke. Director Doyle spoke. Page 3 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 20, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM Director Sanders spoke. Megan Sorensen, Housing Development Officer, spoke. Attorney Anthony spoke. Discussion ensued. President Tatum spoke. Director Ward spoke. Director Mais spoke. President Tatum spoke. Director Mais spoke. Director Sanders spoke. Attorney Anthony spoke. President Tatum spoke. Director Mais spoke. Director Sanders spoke. Vice President Ure spoke. Megan Sorensen, Housing Development Officer, spoke. Director Doyle spoke. Vice President Ure spoke. Discussion ensued. Attorney Anthony spoke. Director Doyle spoke. Page 4 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 20, 2019 THE LONG BEACH 411 W. OCEAN BLVD. COMMUNITY INVESTMENT 2ND FLOOR CONFERENCE ROOM "THE COMPANY MINUTES BEACH", 4:00 PM President Tatum spoke. Director Doyle spoke. President Tatum spoke. Director Ward spoke. Director Sanders spoke. A motion was made by Director Mais, seconded by Director Ward to approve recommendation. The motion was carried by the following vote: Yes: 6 - Hilda Delgado, Russell Doyle, Lindsay Mais, Sabrina Sanders, Jan Ward and Diane L. Arnold Absent: 1 - Patrice Wong PUBLIC PARTICIPATION: Rose Park Neighborhood Board Members shared information on needed improvements along the 7th Street corridor. NEW BUSINESS ADJOURNMENT Director Sanders adjourned the meeting at 5:00 p.m. Respectfully submitted, Respectfully submitted, __________________________ __________________________ Linda Tatum, President Diane Arnold, Vice Chair Page 5 of 5