The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, MAY 20, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES Patrice Wong, Chair Lindsay Mais, Director Jan Ward, Vice Chair Sabrina Sanders, Director Russell Doyle, Director Hilda Delgado, Director Diane Arnold, Director Special Meeting FINISHED AGENDA & MINUTES The regular meeting of the Long Beach Community Investment Corporation was held at 4:00 p.m., Wednesday, May 20, 2020. The meeting was held via teleconference pursuant to Executive Order N-25-20 issued by Governor Gavin Newsom. CALL TO ORDER Chairwoman Wong called the meeting to order at 4:00 p.m. ROLL CALL Commissioners Hilda Delgado, Lindsay Mais, Sabrina Sanders, Diane L. Arnold, Present: Jan Ward and Patrice Wong Commissioners Russell Doyle Absent: STAFF PRESENT: Linda Tatum, President, Patrick Ure, Vice President, Meggan Sorensen, Housing Development Officer, Rich Anthony, Deputy City Attorney, Alem Hagos, Operations Officer, Elizabeth Weithers, Administrative Analyst, Monica Jaime, Secretary. FLAG SALUTE Chairwoman Wong led the flag salute. Page 1 of 5 CITY OF LONG BEACH WEDNESDAY, MAY 20, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES PRESIDENT'S REPORT None MINUTES 20-014CI Recommendation to approve and file the minutes of the Regular Board meeting held on Wednesday, March 18, 2020. A motion was made by Director Delgado, seconded by Director Arnold, to approve recommendation. The motion carried by the following vote: Yes: 6 - Hilda Delgado, Lindsay Mais, Sabrina Sanders, Diane L. Arnold, Jan Ward and Patrice Wong Absent: 1 - Russell Doyle REGULAR AGENDA 20-015CI Recommendation to Adopt the proposed budget of the Long Beach Community Investment Company for Fiscal Year 2020-2021 (FY21). Elizabeth Weithers, Administrative Analyst, Presented. Chairwoman Wong spoke. Director Arnold spoke. Director Sanders spoke. Director Mais spoke. Page 2 of 5 CITY OF LONG BEACH WEDNESDAY, MAY 20, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES A motion was made by Vice Chair Ward, seconded by Director Arnold, to . The motion carried by the following vote: Yes: 6 - Hilda Delgado, Lindsay Mais, Sabrina Sanders, Diane L. Arnold, Jan Ward and Patrice Wong Absent: 1 - Russell Doyle 20-016CI Recommendation to Authorize the President or designee to enter into a contract with Liebold, McClendon & Mann to provide legal services to The Long Beach Community Investment Company in an amount not to exceed $400,000 for a four-year period effective July 1, 2020. Meggan Sorensen, Housing Development Officer, presented. Chairwoman Wong spoke. Director Delgado spoke. Deputy City Attorney Anthony spoke. President Tatum spoke. Chairwoman Wong spoke. A motion was made by Vice Chair Ward, seconded by Director Mais, to approve recommendation. The motion carried by the following vote: Yes: 6 - Hilda Delgado, Lindsay Mais, Sabrina Sanders, Diane L. Arnold, Jan Ward and Patrice Wong Absent: 1 - Russell Doyle 20-017CI Recommendation to: 1. Approve the selection of Excelerate Housing Group for an award of HOME funds in the amount of $3,000,000; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with Excelerate Housing Group for the new construction of affordable rental housing units. Page 3 of 5 CITY OF LONG BEACH WEDNESDAY, MAY 20, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES Meggan Sorensen, Housing Development Officer, presented. Chairwoman Wong spoke. Director Mais spoke. Vice President Ure spoke. Director Mais spoke. Vice President Ure spoke. Director Mais spoke. Vice President Ure spoke. Chairwoman Wong spoke. Vice President Ure spoke. Chairwoman Wong spoke. Vice President Ure spoke. Discussion ensued. Meggan Sorensen, Housing Development Officer, spoke. Chairwoman Wong spoke. Meggan Sorensen, Housing Development Officer, spoke. Director Delgado spoke. Director Mais spoke. President Tatum spoke. Director Delgado spoke. Chairwoman Wong spoke. Page 4 of 5 CITY OF LONG BEACH WEDNESDAY, MAY 20, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES A motion was made by Director Delgado, seconded by Chair Wong, to approve recommendation. The motion carried by the following vote: Yes: 6 - Hilda Delgado, Lindsay Mais, Sabrina Sanders, Diane L. Arnold, Jan Ward and Patrice Wong Absent: 1 - Russell Doyle PUBLIC PARTICIPATION: Members of the public are invited to address the Board on items of interest to the public within the Agency Board jurisdiction. Each speaker will be limited to two minutes unless that time is extended by the Chair. No public comments were made. NEW BUSINESS No New Business. ADJOURNMENT Chairwoman Wong adjourned the meeting at 5:00 p.m. Respectfully submitted, Respectfully submitted, ____________________ ____________________ Linda F. Tatum, President Patrice Wong, Chair Page 5 of 5