City of Long Beach - Meeting of The Long Beach Community Investment Company on 5/17/2023 at 4:00 PM

23-016CI

Mon, 30 Oct 2023 20:47:37 GMT

File #: 23-016CI
Ver.: 1
Agenda #: 1.
Type: CI-Agenda Item
Title: Recommendation to approve and file the minutes of the regular LBCIC Board meeting held on Wednesday, April 19, 2023.
Action: approve recommendation
Result: Pass

23-017CI

Mon, 30 Oct 2023 20:47:37 GMT

File #: 23-017CI
Ver.: 1
Agenda #: 2.
Type: CI-Agenda Item
Title: Recommendation to: 1. Approve the selection of Mercy Housing California for an award of up to $5 Million in Low- and Moderate-Income Housing Asset Fund (LMIHAF) and/or Permanent Local Housing Allocation (PLHA) funds; and 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with Mercy Housing California for the development of new affordable rental housing units.
Action: approve recommendation
Result: Pass

23-018CI

Mon, 30 Oct 2023 20:47:37 GMT

File #: 23-018CI
Ver.: 1
Agenda #: 3.
Type: CI-Agenda Item
Title: Recommendation to: 1. Approve a $500,000 increase to the permanent Low-and Moderate-Income Housing Asset Funds (LMIHAF) loan to Excelerate Housing Group (Excelerate) for the development of the 26 Point 2 Project; 2. Authorize the President to negotiate an Amendment to the Affordable Housing Loan Agreement with Excelerate; and, 3. Authorize the President to negotiate and execute any and all documents necessary related to the Loan Amendment.
Action: approve recommendation
Result: Pass

23-019CI

Mon, 30 Oct 2023 20:47:37 GMT

File #: 23-019CI
Ver.: 1
Agenda #: 4.
Type: CI-Agenda Item
Title: Recommendation to adopt the Long Beach Community Investment Company proposed Fiscal Year 2023-2024 (FY24) budget.
Action: approve recommendation
Result: Pass

23-020CI

Mon, 30 Oct 2023 20:47:37 GMT

File #: 23-020CI
Ver.: 1
Agenda #: 5.
Type: CI-Agenda Item
Title: Recommendation to receive and file a report on the proposed Fiscal Year 2024 Action Plan budget for the expenditure of Community Development Block Grant (CDBG), HOME Investment Partnerships Grant (HOME), and Emergency Solutions Grant (ESG) funds under the current Five-Year Consolidated Plan.
Action: received and filed
Result: Pass