Long Beach, CA
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File #: 13-0790    Version: 1 Name: CM - Establish LB Community Investment Company
Type: Resolution Status: Adopted
File created: 9/5/2013 In control: City Council
On agenda: 10/22/2013 Final action: 10/22/2013
Title: Adopt resolution amending and restating the organizational documents of The Long Beach Housing Development Company, renaming the corporation The Long Beach Community Investment Company, expanding its powers to provide advice to City Council regarding delivery of housing and neighborhood revitalization services, and to administer the use of Community Development Block Grant funding, and authorize the execution of all documents necessary for such reorganization; and Authorize the removal of all current members of the Board of Directors of The Long Beach Housing Development Company. (Citywide)
Sponsors: City Manager
Attachments: 1. 102213-H-2sr&att.pdf, 2. RES-13-0097.pdf
Related files: 14-0166
TITLE
Adopt resolution amending and restating the organizational documents of The Long Beach Housing Development Company, renaming the corporation The Long Beach Community Investment Company, expanding its powers to provide advice to City Council regarding delivery of housing and neighborhood revitalization services, and to administer the use of Community Development Block Grant funding, and authorize the execution of all documents necessary for such reorganization; and

Authorize the removal of all current members of the Board of Directors of The Long Beach Housing Development Company. (Citywide)

DISCUSSION
On January 17, 2012, in response to State legislation commonly known as AB1x 26, which eliminated redevelopment agencies statewide, the City Council designated the City of Long Beach as the Successor Agency to the Redevelopment Agency of the City of Long Beach to oversee the dissolution of the Redevelopment Agency. The City Council also directed the City Manager to establish a “Community Improvement Commission” or similar entity and to return to the City Council with appropriate implementing measures for consideration. This item proposes the complete reorganization of the existing Long Beach Housing Development Company, including changing the name of the corporation to “The Long Beach Community Investment Company” (LBCIC).

Prior to the dissolution of redevelopment functions, three boards and commissions (Redevelopment Agency Board (RDA), Long Beach Housing Development Company (LBHDC) and the Community Development Advisory Commission (CDAC)) existed to provide guidance and direction on the distribution of programs and services to the community. In light of the dissolution of the RDA, a number of these programs and services have been eliminated, dramatically altered or must be reprioritized to continue to be effective.

The proposed LBCIC is intended to provide an efficient, agile organization to advise the City Council regarding delivery of housing and...

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