TITLE
Recommendation to adopt resolution authorizing City Manager, or designee, to execute any and all documents necessary to accept grant funds from the California Governor's Office of Business and Economic Development (Go-Biz) in an amount not to exceed $5,000,000, for capital improvements to City-owned property at 1858 Atlantic Avenue (Subject Property), for creation of The Center for Inclusive Business and Workforce Development (Center) in partnership with Centro C.H.A.;
Increase appropriations in the Capital Projects Fund Group in the Public Works Department by $5,000,000, offset by grant reimbursement funds from Go-Biz, for the improvements of the Center Project;
Increase appropriations in the Capital Projects Fund Group in the Public Works Department by $5,000,000, offset by a transfer of Go-Biz grant reimbursement revenues from the Capital Grant Fund; and
Authorize City Manager, or designee, to execute any and all documents necessary to facilitate the construction of the Center, should escrow of the Subject Property close prior to completion. (District 6)
DISCUSSION
City Council approval is requested to accept, receive, and appropriate grant funding received from Go-Biz for capital improvements of the Center for Inclusive Business and Workforce Development Center Project.
For the past three years, the City of Long Beach (City) and Centro C.H.A., Inc. (Centro CHA), have been engaged in negotiations for the use and purchase of City-owned property located at 1858 Atlantic Avenue (Subject Property) for the establishment of a new Center for Inclusive Business and Workforce Development (Center). To this end, the City Council authorized a Lease with an Option to Purchase No. 35521 on January 21, 2020, that contained an option for Centro CHA to purchase the Subject Property at a fixed price of $800,000, which Centro CHA exercised on April 8, 2020. Centro CHA applied and was approved for a loan (Loan) from the Los Angeles County Development Authority (LAGOA...
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