The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, NOVEMBER 18, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES Patrice Wong, Chair Sabrina Sanders, Director Jan Ward, Vice Chair Hilda Delgado, Director Lindsay Mais, Director Diane Arnold, Director FINISHED AGENDA & MINUTES The regular meeting of the Long Beach Community Investment Corporation was held at 4:00 p.m., Wednesday, November 18, 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 Lindsay Mais, Sabrina Sanders, Diane L. Arnold and Patrice Present: Wong Commissioners Hilda Delgado and Jan Ward Absent: STAFF PRESENT: Oscar Orci, President, Patrick Ure, Vice President, Christopher Koontz, Deputy Director, Rich Anthony, Deputy City Attorney, Alem Hagos, Operations Officer, Silvia Medina, Real Estate Project Coordinator, Monica Jaime, Secretary FLAG SALUTE Director Mais led the flag salute. PRESIDENT'S REPORT - No Information presented. Page 1 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 18, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES MINUTES 1. 20-028CI Recommendation to approve and file the minutes of the Regular Board meeting held on Wednesday, September 16, 2020. A motion was made by Member Arnold, seconded by Director Sanders, to approve recommendation. The motion carried by the following vote: Yes: 4 - Lindsay Mais, Sabrina Sanders, Diane L. Arnold and Patrice Wong Absent: 2 - Hilda Delgado and Jan Ward REGULAR AGENDA 2. 20-025CI Recommendation to: 1. Approve a modification to the single-family rehabilitation loan terms for borrower Gail Smith-Washington - 446 E. Silva Street; and, 2. Authorize the President or designee to execute any and all documents necessary to modify the loan terms . Meggan Sorensen, Housing Development Office, Presented Chairwoman Wong spoke. A motion was made by Director Sanders, seconded by Director Mais, to approve recommendation. The motion carried by the following vote: Yes: 4 - Lindsay Mais, Sabrina Sanders, Diane L. Arnold and Patrice Wong Absent: 2 - Hilda Delgado and Jan Ward Page 2 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 18, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES 3. 20-026CI Recommendation to: 1. Approve the selection of Century Affordable Development, Inc. (CADI) for an award of HOME funds in the amount of $4,000,000; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with CADI for the new construction of affordable rental housing units. Meggan Sorensen, Housing Development Officer, Presented Oscar Alvarado, from Century Housing, spoke. Chairwoman Wong spoke. Attorney Anthony spoke. Chairwoman Wong spoke. Oscar Alvarado, from Century Housing, spoke. Chairwoman Wong spoke. A motion was made by Director Sanders, seconded by Member Arnold, to approve recommendation. The motion carried by the following vote: Yes: 4 - Lindsay Mais, Sabrina Sanders, Diane L. Arnold and Patrice Wong Absent: 2 - Hilda Delgado and Jan Ward 4. 20-027CI Recommendation to: 1. Adopt a resolution authorizing Oscar W. Orci, President, to submit an application to the California State Department of Housing and Community Development for $5,000,000 in funding under the CalHome Program reflecting a change to the Long Beach Community Investment Company (LBCIC) President. 2. Authorize the President to execute a Standard Agreement Page 3 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 18, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES and any amendments thereto, and any related documents necessary to participate in the CalHome Program. Patrick Ure, Vice President, Presented. Chairwoman Wong spoke. Chairwoman Wong spoke. Director Mais spoke. Patrick Ure, Vice President, spoke. Director Sanders spoke. A motion was made by Director Mais, seconded by Member Arnold, to approve recommendation. The motion carried by the following vote: Yes: 4 - Lindsay Mais, Sabrina Sanders, Diane L. Arnold and Patrice Wong Absent: 2 - Hilda Delgado and Jan Ward 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. Page 4 of 5 CITY OF LONG BEACH WEDNESDAY, NOVEMBER 18, 2020 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES I, Monica Jaime, Secretary, certify that the agenda was posted not less than 72 hours prior to the meeting. Signature: _____________________________ Date: ________________ NOTE: The City of Long Beach provides reasonable accommodations in accordance with the Americans with Disabilities Act of 1990. If a special accommodation is desired, or if an agenda is needed in an alternative format, please call the Development Services Department, 48 hours prior to the meeting at (562) 570-6957 or (562) 570-6793 (telecommunication device for the Deaf). The Development Services Department email at lbds@longbeach.gov is available for correspondence purposes. Page 5 of 5