Economic Development Commission Revolving Loan Subcommittee

Agenda

1. Microsoft Teams meeting call in (audio only) 213-279-1690,,12309099# Phone Conference ID: 123 090 99#
2. CALL TO ORDER
3. ROLL CALL
4. AGENDA
5. DIRECTORS REPORT
6. 1. Recommendation to receive and file the minutes for the meeting held December 9, 2020.
   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. 2. Recommendation to approve the revolving loan application in the amount of $25,000 for Scholars Collective 455 E. Ocean Blvd. #1107, Long Beach, CA 90802 (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:

8. 3. Recommendation to receive and file an update on the City’s Emergency Loan Program and Microenterprise Loan Program from the Business Development Officer.
   ED-Agenda Item
   Action: approve recommendation Passed

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

9. 4. Recommendation to approve extending the deferment of principal and interest for current Revolving Loan Fund recipients to 18 months from the date of their first deferment and to 12 months for new Revolving Loan Fund recipients.
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Commissioner Larkins, seconded by Commissioner Metoyer, to approve recommendation with modifications extending the deferment of principal and interest for current Revolving Loan Fund recipients to 24 months from the date of their first deferment and to 18 months for new Revolving Loan Fund recipients. The motion carried by the following vote:

10. PUBLIC PARTICIPATION: Members of the public are invited to address the Committee on items of interest to the public within the Committee's jurisdiction.
11. ADJOURNMENT
12. I, Bob Mossler, Project Analyst certify that the agenda was posted not less than 72 hours prior to the meeting. ________________________ Date: _____________
13. Note: The Economic Development Commission Revolving Loan Subcommittee 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.