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The Long Beach Community Investment Company

Wednesday, February 16, 2022 · 4:00 PM AM · TELECONFERENCE

TL;DR

The Long Beach Community Investment Company held a teleconference meeting focusing on affordable housing initiatives. The board elected new leadership and approved a significant $4 million HOME loan to support veteran housing development. They also reviewed the annual housing asset fund report for the previous fiscal year.

Key Decisions

  • Elect LBCIC Chair and Vice Chair Passed
  • $4 Million HOME Loan for Veteran Affordable Housing Passed
  • Housing Successor Annual Report for 2020-2021 Received and Filed
  • Substantial Amendment to 2021-2022 Action Plan Accepted Public Input
Agenda PDF Minutes PDF

Agenda

  1. FINISHED AGENDA & MINUTES
  2. REGULAR MEETING THE LONG BEACH COMMUNITY INVESTMENT COMPANY (LBCIC) MEETING VIA TELECONFERENCE PURSUANT TO EXECUTIVE ORDER AB-361 ISSUED BY GOVERNOR GAVIN NEWSOM. THE CIVIC CHAMBERS WILL BE CLOSED TO THE PUBLIC. THE PUBLIC MAY PROVIDE COMMENTS ON AGENDA ITEMS BY EMAIL TO LBDS@LONGBEACH.GOV TELECONFERENCE DIAL IN: 1-408-418-9388 MEETING ID: 2491 101 7881
  3. CALL TO ORDER
  4. ROLL CALL
  5. FLAG SALUTE
  6. PRESIDENT'S REPORT
  7. ELECTION
  8. 1. Recommendation to Elect the Long Beach Community Investment Company (LBCIC) Chair and Vice Chair.
    CI-Agenda Item
    Action: approve recommendation Passed

    A motion was made by to approve recommendation. The motion carried by the following vote:

  9. MINUTES
  10. 2. Recommendation to approve and file the minutes of the Special LBCIC Board meeting held on Tuesday, January 4, 2022.
    CI-Agenda Item
    Action: approve recommendation Passed

    A motion was made by Chair Wong, seconded by Director Mais, to approve recommendation. The motion carried by the following vote:

  11. REGULAR AGENDA
  12. 3. Recommendation to Receive and file the Housing Successor Annual Report Regarding the Low- and Moderate-Income Housing Asset Fund for Fiscal Year 2020-2021 and direct the President to post and distribute the report as required by Section 34176.1 of the California Health and Safety Code. (Citywide)
    CI-Agenda Item
    Action: approve recommendation Passed

    A motion was made by Director Castro, seconded by Director Sides, to approve recommendation. The motion carried by the following vote:

  13. 4. Recommendation to: 1. Approve a HOME loan in the amount of $4 Million to Century Affordable Development, Inc. (CADI) for the development of veteran affordable housing units located at 2121 W. Williams Street; 2. Authorize the President or designee to enter into an Affordable Housing Loan Agreement with Century Affordable Development, Inc.; and, 3. Authorize the President, or designee, to execute any and all documents necessary to implement the Loan Agreement and the project. (District 7)
    CI-Agenda Item
    Action: approve recommendation Passed

    A motion was made by Director Delgado, seconded by Director Mais, to approve recommendation. The motion carried by the following vote:

  14. 5. Recommendation to Receive and file the presentation and accept public input on the Substantial Amendment to the 2021-2022 Action Plan. (Citywide)
    CI-Agenda Item
    Action: approve recommendation Passed

    A motion was made by Director Mais, seconded by Chair Wong, to approve recommendation. The motion carried by the following vote:

  15. 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.
  16. COMMENTS
  17. ADJOURNMENT
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