Economic Development Commission Revolving Loan Subcommittee

Agenda

1. SPECIAL COMMISSION MEETING VIA TELECONFERENCE PURSUANT TO AB 361 (GOV.CODE § 54953(e)(1)-(2)) To join the meeting via meeting via WebEx https://longbeachcity.webex.com/longbeachcity/j.php?MTID=m689458302dfc2550361d2bd4265761a5 Meeting number (access code): 2498 089 1343 Meeting password: EDCLOANFEB To join by phone +1-213-306-3065
2. Untitled item
3. CALL TO ORDER
4. ROLL CALL
5. DIRECTORS REPORT
6. REGULAR AGENDA
7. 1. Recommendation to receive and file the minutes for the meeting held December 1, 2021
   ED-Agenda Item
   Action: approve recommendation Passed

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

8. 2. Recommendation to approve the revolving loan application in the amount $35,000 for Coco's Bistro located at 2300 E. Pacific Coast Highway, Long Beach, CA 90804
   ED-Agenda Item
   Action: approve recommendation Passed

   A motion was made by Commissioner Cohn, seconded by Commissioner Metoyer, to approve recommendation. With the following condition: Borrowers shall secure technical assistance from the Long Beach Small Business Development Center or another service provider to support their business operations. Examples of the technical assistance the borrowers should secure include, but are not limited to business planning, financial administration and operations, and marketing. The motion carried by the following vote:

9. 3. Recommendation to approve the revolving loan application in the amount $25,000 for Phnom Penh Market located at 1001 E. Pacific Coast Highway #111, Long Beach, CA 90806
   ED-Agenda Item
   Action: approve recommendation Passed

   This ED-Agenda Item was approve recommendation.

10. 4. Recommendation to approve the revolving loan application in the amount $50,000 for Miss New Booty located at 2370 Long Beach Blvd., Long Beach, CA 90806
    ED-Agenda Item
    Action: approve recommendation Passed

    A motion was made by Commissioner Metoyer, seconded by Commissioner Cohn, to approve recommendation with the following condition: Borrowers shall secure technical assistance from the Long Beach Small Business Development Center or another service provider to support their business operations. Examples of the technical assistance the borrowers should secure include, but are not limited to business planning, financial administration and operations, and marketing. The motion carried by the following vote:

11. 5. Recommendation to approve the revolving loan application in the amount $35,000 for Makai Fitness located at 410 E. 44th Circle, Long Beach, CA 90807
    ED-Agenda Item
    Action: approve recommendation Passed

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

12. 6. Recommendation to approve the revolving loan application in the amount $50,000 for El Barrio Neighborhood Bar, LLC located at 1731 E. 4th Street, Long Beach, CA 90802
    ED-Agenda Item
    Action: approve recommendation Passed

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

13. 7. Recommendation to receive and file Commissioner recommendations for future agenda items, speakers, and presentations.
    ED-Agenda Item
    Action: laid over Passed

    A motion was made by Commissioner Cohn, seconded by Commissioner Metoyer, to laid over. The motion carried by the following vote:

14. PUBLIC PARTICIPATION: Members of the public are invited to address the Committee on items of interest to the public within the Committee's jurisdiction.
15. ADJOURNMENT I, Bob Mossler, Project Analyst, Economic Development Department certify that the agenda was posted not less than 24 hours prior to the meeting. Signature: ____________________________________ Date: _______________
16. NOTE: An agenda may be obtained from the City Clerk Department prior to the meeting or can be mailed if 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.