The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, APRIL 21, 2021 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES Patrice Wong, Chair Mary Castro, Director Jan Ward, Vice Chair Lindsay Mais, Director Hilda Delgado, Director FINISHED AGENDA & MINUTES The regular meeting of the Long Beach Community Investment Corporation was held at 4:00 p.m., Wednesday, April 21, 2021. 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 4:15 p.m. ROLL CALL Commissioners Mary Castro, Hilda Delgado, Jan Ward and Patrice Wong Present: Commissioners Lindsay Mais Absent: STAFF PRESENT: Oscar Orci, President, Patrick Ure, Vice President, Christopher Koontz, Deputy Director, Rich Anthony, Deputy City Attorney, Meggan Sorensen, Housing Development Officer, Silvia Medina, Administrative Analyst, Alem Hago, Operations Officer, Elizabeth Weithers, Administrative Analyst, Monica Jaime, Secretary MEMBERS OF THE PUBLIC: Maury Ruano, Associate Director, Real Estate Development at Mercy Housing and CJ Horvath, Project Manager at CTY Housing, Inc. FLAG SALUTE Chairwoman Wong led the flag salute. Page 1 of 4 CITY OF LONG BEACH WEDNESDAY, APRIL 21, 2021 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES PRESIDENT'S REPORT President Oscar Orci provided a overview and background information on the Long Beach Emergency Rental Assistance Program. Introduced and welcomed newly appointed LBCIC Board Member Mary Castro MINUTES 21-009CI Recommendation to approve and file the minutes of the Regular Board meeting held on Wednesday, February 17, 2021. A motion was made by Vice Chair Ward, seconded by Delgado, to approve recommendation. The motion carried by the following vote: Yes: 4 - Mary Castro, Hilda Delgado, Jan Ward and Patrice Wong Absent: 1 - Lindsay Mais REGULAR AGENDA 21-010CI Recommendation to Receive and file the presentation and accept public input on the development of the 2021- 2022 Annual Action Plan. Vice President Patrick Ure Spoke. Alem Hago, Operations Officer Spoke. Elizabeth Weithers, Administrative Analyst presented. Chairwoman Wong spoke. Page 2 of 4 CITY OF LONG BEACH WEDNESDAY, APRIL 21, 2021 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES A motion was made by Delgado, seconded by Vice Chair Ward, to approve recommendation. The motion carried by the following vote: Yes: 4 - Mary Castro, Hilda Delgado, Jan Ward and Patrice Wong Absent: 1 - Lindsay Mais 21-011CI Recommendation to: 1. Approve a HOME loan in the amount of $3 Million to Mercy Housing California for the development of senior affordable rental housing units located at 901-945 East Pacific Coast Highway; and, 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Mercy Housing California; and, 3. Authorize the President, or designee, to execute any and all documents necessary to implement the Loan Agreement and the project. Silvia Medina, Administrative Analyst presented. Maury Ruano, Associate Director, Real Estate Development representing Mercy Housing spoke. Chairwoman Wong spoke. Maury Ruano, Associate Director, Real Estate Development representing Mercy Housing spoke. Chairwoman Wong spoke. Director Delgado spoke. Maury Ruano, Associate Director, Real Estate Development representing Mercy Housing spoke. Vice President Patrick Ure spoke. Maury Ruano, Associate Director, Real Estate Development representing Page 3 of 4 CITY OF LONG BEACH WEDNESDAY, APRIL 21, 2021 THE LONG BEACH TELECONFERENCE, 4:00 PM COMMUNITY INVESTMENT COMPANY MINUTES Mercy Housing spoke. Chairwoman Wong spoke. A motion was made by Chair Wong, seconded by Vice Chair Ward, to approve recommendation. The motion carried by the following vote: Yes: 4 - Mary Castro, Hilda Delgado, Jan Ward and Patrice Wong Absent: 1 - Lindsay Mais 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 Participation or Comments were made. COMMENTS Rich Anthony, Attorney spoke. Chairwoman Wong spoke. ADJOURNMENT Chairwoman Wong adjourned the meeting at 4:49 p.m. Page 4 of 4