REGULAR AGENDA
1. 24-55640 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation.
2. 24-55641 Recommendation to approve the minutes for The Long Beach Community Investment Company special meeting of Monday, October 7, 2024. Suggested Action: Approve recommendation.
3. 24-55643 Recommendation to approve the allocation of up to $2,500,000 from the Low- and Moderate-Income Housing Asset Fund (LMIHAF) to the Backyard Builders Pilot Program for the provision of loans to participants for the development of an affordable Accessory Dwelling Unit on their property; and Authorize the President or designee to execute any and all related documents necessary to implement the Backyard Builders Pilot Program and loan agreements. Suggested Action: Approve recommendation.
4. 24-55644 Recommendation to approve a $400,000 increase to the Community Development Block Grant loan to AMCAL Multi-Housing, Inc. to complete the acquisition of 946 Linden Ave; Authorize the President to negotiate an Amendment to the Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and Authorize the President or designee to negotiate and execute any and all documents necessary related to the Loan Amendment. Suggested Action: Approve recommendation.
1. 24-55640 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation.
2. 24-55641 Recommendation to approve the minutes for The Long Beach Community Investment Company special meeting of Monday, October 7, 2024. Suggested Action: Approve recommendation.
3. 24-55643 Recommendation to approve the allocation of up to $2,500,000 from the Low- and Moderate-Income Housing Asset Fund (LMIHAF) to the Backyard Builders Pilot Program for the provision of loans to participants for the development of an affordable Accessory Dwelling Unit on their property; and Authorize the President or designee to execute any and all related documents necessary to implement the Backyard Builders Pilot Program and loan agreements. Suggested Action: Approve recommendation.
4. 24-55644 Recommendation to approve a $400,000 increase to the Community Development Block Grant loan to AMCAL Multi-Housing, Inc. to complete the acquisition of 946 Linden Ave; Authorize the President to negotiate an Amendment to the Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and Authorize the President or designee to negotiate and execute any and all documents necessary related to the Loan Amendment. Suggested Action: Approve recommendation.
PUBLIC COMMENT
Opportunity to address The Long Beach Community Investment Company on non-agenda items. Each speaker is limited to three minutes to make their comments unless extended by the Chair.
I, Monica Jaime, Secretary, certify that the agenda was posted not less than 72 hours prior to the meeting.
NOTE: The agenda and supporting documents are available online at https://longbeach.gov/cityclerk/meetings. If a special accommodation is desired pursuant to the Americans with Disabilities Act, please contact (562) 570-3807 or (562) 570-6957.
Nov 20, 2024 The Long Beach Community Investment Company
REGULAR AGENDA
1. 24-55640 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation.
2. 24-55641 Recommendation to approve the minutes for The Long Beach Community Investment Company special meeting of Monday, October 7, 2024. Suggested Action: Approve recommendation.
3. 24-55643 Recommendation to approve the allocation of up to $2,500,000 from the Low- and Moderate-Income Housing Asset Fund (LMIHAF) to the Backyard Builders Pilot Program for the provision of loans to participants for the development of an affordable Accessory Dwelling Unit on their property; and Authorize the President or designee to execute any and all related documents necessary to implement the Backyard Builders Pilot Program and loan agreements. Suggested Action: Approve recommendation.
4. 24-55644 Recommendation to approve a $400,000 increase to the Community Development Block Grant loan to AMCAL Multi-Housing, Inc. to complete the acquisition of 946 Linden Ave; Authorize the President to negotiate an Amendment to the Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and Authorize the President or designee to negotiate and execute any and all documents necessary related to the Loan Amendment. Suggested Action: Approve recommendation.
1. 24-55640 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation.
2. 24-55641 Recommendation to approve the minutes for The Long Beach Community Investment Company special meeting of Monday, October 7, 2024. Suggested Action: Approve recommendation.
3. 24-55643 Recommendation to approve the allocation of up to $2,500,000 from the Low- and Moderate-Income Housing Asset Fund (LMIHAF) to the Backyard Builders Pilot Program for the provision of loans to participants for the development of an affordable Accessory Dwelling Unit on their property; and Authorize the President or designee to execute any and all related documents necessary to implement the Backyard Builders Pilot Program and loan agreements. Suggested Action: Approve recommendation.
4. 24-55644 Recommendation to approve a $400,000 increase to the Community Development Block Grant loan to AMCAL Multi-Housing, Inc. to complete the acquisition of 946 Linden Ave; Authorize the President to negotiate an Amendment to the Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and Authorize the President or designee to negotiate and execute any and all documents necessary related to the Loan Amendment. Suggested Action: Approve recommendation.
PUBLIC COMMENT
Opportunity to address The Long Beach Community Investment Company on non-agenda items. Each speaker is limited to three minutes to make their comments unless extended by the Chair.
I, Monica Jaime, Secretary, certify that the agenda was posted not less than 72 hours prior to the meeting.
NOTE: The agenda and supporting documents are available online at https://longbeach.gov/cityclerk/meetings. If a special accommodation is desired pursuant to the Americans with Disabilities Act, please contact (562) 570-3807 or (562) 570-6957.
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