The Long Beach Community Investment Company

CITY OF LONG BEACH TUESDAY, JANUARY 4, 2022 THE LONG BEACH COMMUNITY TELECONFERENCE, 4:00 PM INVESTMENT COMPANY AGENDA Patrice Wong, Chair Hilda Delgado, Director Jan Ward, Vice Chair Lindsay Mais, Director Mary Castro, Director Elwood Sides, Director SPECIAL 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 CALL TO ORDER ROLL CALL FLAG SALUTE PRESIDENT'S REPORT SPECIAL MEETING AGENDA MINUTES 1. 21-024CI Recommendation to approve and file the minutes of the Special Board meeting held on Wednesday, June 23, 2021 Suggested Action: Approve recommendation. Attachments: FinishedAgendaAndMinutes 06.23.2021.pdf Page 1 of 4 CITY OF LONG BEACH TUESDAY, JANUARY 4, 2022 THE LONG BEACH COMMUNITY INVESTMENT TELECONFERENCE, 4:00 PM COMPANY AGENDA 2. 21-025CI Recommendation to: 1. Approve a loan in the amount of up to $4 Million to Excelerate Housing Group for the development of affordable rental housing units located at 3590 E. Pacific Coast Highway; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Excelerate Housing Group; and, 3. Authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement and the project. (District 4) Suggested Action: Approve recommendation. Attachments: 2022_01_04 Excelerate Housing Loan Approval Staff Re Attachment A - Excelerate Map.pdf Attachment B - May 20, 2020 Staff Report.pdf Attachment C - Rendering.pdf Attachment D - KMA Analysis.pdf 3. 21-026CI Recommendation to: 1. Approve the selection of Home Ownership for Personal Empowerment (HOPE) for an award of Community Housing Development Organization (CHDO) funds in the amount of $859,051; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with HOPE for the acquisition and rehabilitation of housing for special needs individuals. (Citywide) Suggested Action: Approve recommendation. Attachments: 2022_01_04 HOME NOFA - HOPE Staff Report - FINAL. Attachment A - HOME CHDO NOFA.pdf Page 2 of 4 CITY OF LONG BEACH TUESDAY, JANUARY 4, 2022 THE LONG BEACH COMMUNITY INVESTMENT TELECONFERENCE, 4:00 PM COMPANY AGENDA 4. 21-027CI Recommendation to: 1. Approve the selection of LINC Community Development Corporation (LINC) for an award of Community Development Block Grant (CDBG) funds in the amount of $1,600,000; 2. Approve a loan in the amount of $1,600,000 in CDBG funds to LINC for the acquisition of the property located at 4220 Wherly Court; 3. Authorize the President to negotiate an Affordable Housing Loan Agreement with LINC; and, 4. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project. (District 4) Suggested Action: Approve recommendation. Attachments: 2022_01_04 CDBG NOFA - LINC Staff Report - FINAL.pd Attachment A - CDBG NOFA .pdf Attachment B.pdf 5. 21-028CI Recommendation to: 1. Approve the selection of Gundry Partners, LP for an award of up to $5 Million in LMIHAF and/or PLHA funds; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with Gundry Partners for the adaptive reuse and new construction of affordable rental housing units (District 1). Suggested Action: Approve recommendation. Attachments: 2022_01_04 Armory Award of Funds and ENA Staff Repo Attachment A.pdf Attachment B Armory.pdf 6. 21-029CI Recommendation to: 1. Approve the selection of AMCAL Multi-Housing, Inc. for an award of up to $5 Million in LMIHAF and/or PLHA funds; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with AMCAL Multi-Housing, Inc. for the development of new construction of affordable rental housing units. (District 1). Page 3 of 4 CITY OF LONG BEACH TUESDAY, JANUARY 4, 2022 THE LONG BEACH COMMUNITY INVESTMENT TELECONFERENCE, 4:00 PM COMPANY AGENDA Suggested Action: Approve recommendation. Attachments: 2022_01_04 AMCAL Award of Funds and ENA Staff Rep Attachment A.pdf Attachment B Linden Ave.pdf 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. COMMENTS ADJOURNMENT I, Monica Jaime, Secretary, certify that the agenda was posted not less than 72 hours prior to the meeting. Signature: _____________________________ Date: ________________ Note: The City of Long Beach provides reasonable accommodations in accordance with the Americans with Disabilities Act of 1990. If a special accommodation is desired, or if an agenda is needed in an alternative format, please call the Development Services Department, 48 hours prior to the meeting at (562) 570-6957 or (562) 570-6793 (telecommunication device for the Deaf). The Development Services Department email at lbds@longbeach.gov is available for correspondence purposes. Page 4 of 4