Economic Development Commission Revolving Loan Subcommittee

Agenda

1. REGULAR MEETING - 3:00 P..M.
2. ROLL CALL
3. DIRECTOR'S REPORT
4. REGULAR AGENDA
5. 2. Officer Report - Update on the City’s Emergency Loan Program and the Economic Development Administration (EDA) CARES Act Funding for the City’s Revolving Loan Fund (RLF) program
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Larkins, seconded by Cohn, to approve recommendation. The motion carried by the following vote:

6. 3. Recommendation to receive and file an update from the Business Development Project Manager regarding the status of the COVID-19 Small Business Recovery Loan Plan requested by City Council.
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Larkins, seconded by Commissioner Metoyer, to approve recommendation. The motion carried by the following vote:

7. 4. Recommendation to approve extending deferment of principal and interest payments for current Revolving Loan Fund recipients for an additional Three (3) months to March 31, 2021.
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Larkins, seconded by Commissioner Metoyer, to approve recommendation. The motion carried by the following vote:

8. 5. Recommendation to approve the revolving loan application in the amount of $20,000 for Full Belly Food Group, Inc. dba Heritage Sandwich Shop, 2032 E. 7th Street, Long Beach, CA 90804 (Council District 2)
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Larkins, seconded by Commissioner Metoyer, to approve recommendation. The motion carried by the following vote:

9. 6. Recommendation to approve the revolving loan application in the amount of $95,0000 for SPFish LB, LLC, 6550 Marina Drive, Long Beach, CA 90803 (Council District 3)
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Larkins, seconded by Cohn, to approve recommendation. The motion carried by the following vote:

10. 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.
11. COMMENTS
12. ADJOURNMENT I, Bob Mossler, Project Analyst, Economic Development Department certify that the agenda was posted not less than 72 hours prior to the meeting. Signature: __________________________ Date: _________
13. Note: The Economic Development Commission agenda and supporting documents are available on the Internet at http://longbeach.legistar.com/Calendar.aspx. Agenda items may also be reviewed in the Office of the City Clerk or online at the Main Library and at the Branch Libraries. Persons interested in obtaining an agenda via email should send an email request to the Clerk of the Economic Development Commission at robert.mossler@longbeach.gov. Any supplemental writings or documents regarding an agenda item that are distributed to a majority of the Economic Development Commission after the posting of this agenda will be available for public inspection in the Office of the City Clerk during normal business hours and available on the internet at: “http://longbeach.legistar.com/Calendar.aspx." The City of Long Beach intends to provide reasonable accommodations in accordance with the Americans with Disabilities Act of 1990. If a special accommodation is desired, please call Bob Mossler 48 hours prior to the Economic Development Commission meeting at (562) 570-5503. This information is available in an alternative format by request to Bob Mossler at (562) 570-5503. For correspondence purposes you can reach City staff at robert.mossler@longbeach.gov.