[00:00:04]
I WOULD LIKE TO CALL TO ORDER THE LONG BEACH COMMUNITY INVESTMENT COMPANY MEETING FOR FEBRUARY 19TH, 2025.
UH, AND FOR THE RECORD, DIRECTOR SIDES IS EXCUSED FROM THIS MEETING, AND, UM, IF NEEDED,
[CALL TO ORDER]
DIRECTOR SPARSE WILL ALSO BE EXCUSED FROM THE MEETING.ARE THERE ANY OBJECTIONS FROM THE COMMISSION? HEARING NONE.
UM, MADAM CLERK, PLEASE CALL THE RULE COMMISSIONER CHAMBERS.
PRESENT DIRECTOR, OR EXCUSE ME, CHAIR.
PRESENT DIRECTOR SIDES DIRECTOR.
DEGA, THOUGH PRESENT WE HAVE CORUM.
MAY I HAVE A MOTION TO HEAR THE FIRST OH, PLEDGE OF, OF ALLEGIANCE.
UM, DIRECTOR DELGADO, CAN YOU PLEASE LEAD US IN THE PLEDGE OF ALLEGIANCE
[PLEDGE OF ALLEGIANCE]
I PANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVIDUAL WITH LIBERTY AND JUSTICE FOR ALL.OKAY, MADAM SECRETARY, PLEASE READ THE FIRST AGENDA ITEM.
[1. 25-54380 Recommendation to receive and file President’s Report. Suggested Action: Approve recommendation. ]
NUMBER ONE IS RECOMMENDATION TO RECEIVE AND FILE THE PRESIDENT'S REPORT.MAY I HAVE A MOTION TO HEAR THIS ITEM MOVE? OH, IT HAS BEEN MOVED BY DIRECTOR DELGADO AND SECONDED BY, UH, CHAIR WOMAN RAMIREZ.
I'LL TURN THINGS OVER TO THE STAFF FOR THE REPORT.
IN TERMS OF, UM, PRESIDENT'S REPORT, IT'S HARD TO, UH, HAVE THIS MEETING WITHOUT, UH, TALKING ABOUT WHAT'S HAPPENING, UH, IN THE WORLD AND IN OUR COUNTRY.
SO, UM, JUST WANTED TO, UM, BEFORE WE GET, UM, I THINK WE DON'T NEED WHAT'S ON THE SCREEN, BUT, UM, YOU KNOW, WE ALL, A FEW WEEKS AGO THERE WAS A FEDERAL PAUSE AND THAT WAS THEN, UM, WITHDRAWN AND THERE WAS SOME ACTION FROM THE CALIFORNIA ATTORNEY GENERAL.
UM, BUT WE DO EXPECT DRAMATIC, UH, CHANGES IN OUR FUNDING, UM, FROM HUD.
WE DO HAVE 17 EMPLOYEES, EITHER DIRECTLY OR INDIRECTLY SUPPORTED BY FEDERAL FUNDS, UM, HERE IN THE DEPARTMENT.
AND IT SUPPORTS, UH, THE WORK THAT THIS, UM, BODY DOES, UM, TO THE TUNE OF, UH, FIVE TO UP TO $9 MILLION PER YEAR, DEPENDING ON THE YEAR.
UM, SO JUST WANTED YOU TO KNOW THAT, UM, WE ARE WORKING ON, UM, WHAT WE NEED TO DO TO CONTINUE THOSE PROGRAMS, UM, TO PROTECT OUR STAFF, UM, BUT ALSO ADAPT TO SORT OF THE CHANGING, UH, LANDSCAPE FEDERALLY.
UM, I THINK THE ONLY SORT OF GOOD NEWS THAT BALANCES SOME OF THAT OUT IS, UH, WE DO HAVE SOME, UM, MONIES FROM THE COUNTY, FROM THE NEW AGENCY LA CASA, THAT SHOULD START FLOWING, UM, IN 2026.
UM, THAT WILL ALLOW US TO REGARDLESS, CONTINUE, UM, OUR EFFORTS TO BUILD AFFORDABLE HOUSING.
UM, AND IT'S MY GOAL, UM, TO PROTECT THE STAFF AND THE COMMUNITIES THAT WE SERVE.
AND WE'RE LOOKING AT SOME CONTINGENCY PLANNING, UM, AS WELL AS, UH, WORKING WITH OUR FEDERAL DELEGATION TO, UM, PROTECT, UH, HOUSING DOLLARS.
UM, EVERYTHING WE DO HERE, UM, YOU KNOW, IT'S PEOPLE BEHIND IT, BUT IT'S ALSO DOLLARS AND WE CAN'T DO THAT WORK, UH, WITHOUT DOLLARS.
SO JUST WANTED TO MAKE YOU AWARE AND KIND OF GIVE YOU THAT UPDATE.
UM, THE MONEY IS FLOWING AGAIN IN TERMS OF OUR HOT DOLLARS, AT LEAST FOR THE MOMENT.
AND OUR, OUR PROGRAMS ARE MOVING FORWARD UNAFFECTED FOR, UH, THE MOMENT, BUT WE DO EXPECT THERE WILL BE SUBSTANTIAL IMPACTS, UM, AND WE'LL PROVIDE, UM, THE BOARD UPDATES AS THOSE BECOME AVAILABLE.
AND THEN MEGAN'S GONNA TELL YOU ABOUT AN IMPORTANT, UM, UPCOMING COMMUNITY MEETING ON ONE OF OUR PROJECTS.
UM, WE JUST WANTED TO MAKE SURE THAT YOU ARE ALL AWARE THAT WE HAVE THE NEXT COMMUNITY MEETING FOR THE 34 0 1 CERRITOS PROJECT.
UM, AT, SORRY, THERE'S TWO DIFFERENT ADDRESSES.
IT'S, UH, 34 0 1 CERRITOS AND THE, BUT IT'S THE WARLOW.
WE ALL REFER TO IT AS THE WAR WARLOW AND ORANGE PROJECT, SO THAT WILL BE HELD ONCE AGAIN, JUST LIKE LAST SPRING AT THE EXPO ART CENTER AT 43 21 ATLANTIC AVENUE.
THERE'S AN OPEN HOUSE AT 6:00 PM AND THEN A TOWN HALL DISCUSSION AT SEVEN.
WE EXPECT IT TO BE VERY CROWDED AND TO HEAR A LOT OF COMMUNITY INPUT
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ABOUT THE PROJECT, WHICH WE WILL ADDRESS MOVING FORWARD.THIS PARTICULAR MEETING IS MORE FOCUSED ON THE DESIGN AND IS MOSTLY LED BY PLANNING, ALTHOUGH HOUSING STAFF WILL SURELY BE THERE TO ASSIST AND ANSWER ANY QUESTIONS ABOUT AFFORDABLE HOUSING.
WE'LL ALSO HAVE BOOTHS SET UP TO SHARE WITH PEOPLE OUR OTHER RESOURCES.
AND THE OTHER GREAT THINGS WE DO IS AS WELL AS SOME SUCCESS STORIES ABOUT SIMILAR PROJECTS THROUGHOUT THE CITY.
WE'LL NOW TAKE PUBLIC COMMENT.
IF ANYONE WOULD LIKE TO SPEAK ON THE PRESIDENT'S REPORT, PLEASE LINE UP IN FRONT OF THE MICROPHONE.
HEARING NONE, UH, MADAME CLERK, PLEASE CALL FOR THE VOTE OR ARE THERE ANY, SORRY, THAT'S NOT ON HERE, BUT ARE THERE ANY DISCUSSION ITEMS ON THIS ITEM? NO.
WITH THE THREAT OF YOUR FUNDING BEING POTENTIALLY PULLED, GIVEN THE CURRENT ADMINISTRATION'S POSITION, HOW DO YOU PLAN TO, UM, PUSH THOSE PROJECTS THROUGH? THAT DOESN'T AFFECT THE PROJECTS THAT ARE CURRENTLY IN LINE RIGHT NOW, IT AFFECTS NEXT YEAR'S PROJECTS.
YEAH, SO OUR POSITION, WHICH MAY NOT BE THE, THE SAME AS THE ADMINISTRATION'S POSITION, BUT OUR POSITION IS THAT ANY FUNDS THAT WE HAVE AN EXECUTED GRANT AGREEMENT FOR ARE IRREVOCABLE AND WE INTEND TO USE THOSE FUNDS.
UM, THAT'LL CARRY US THROUGH ALL OF OUR EXISTING OBLIGATIONS AS WELL AS THIS IN NEXT YEAR'S OPERATIONS.
AND THEN MEGAN AND I ARE, UM, WORKING TO, UM, ACCELERATE SOME OF THAT SPENDING.
PART OF IT IS JUST KIND OF THE BACK OF HOUSE MINUTIA.
SO INSTEAD OF SUBMITTING, UM, REIMBURSEMENTS TO HUD QUARTERLY, WE'RE SUBMITTING THEM EVERY DAY TO THE DEGREE THAT WE HAVE EXPENSES.
UM, AND THEN WORKING WITH OUR PROJECT SPONSORS, UM, TO MOVE PROJECTS FORWARD.
PROJECTS, UM, THAT RECEIVE A LOAN FROM US, WE'RE JUST ONE PIECE OF THE PIE, RIGHT? SO THEY RECEIVE THEIR TAX CREDIT WHENEVER THEY RECEIVE THEIR TAX CREDIT AND WE SORT OF CAN'T CONTROL THAT.
UM, BUT WE ARE WORKING TO SPEND THE MONEY EXPEDITIOUSLY AND I HAVEN'T GIVEN UP ON CONTINUING TO RECEIVE THAT MONEY IN THE FUTURE.
I THINK THAT, UM, THE WORK THAT WE DO IS CONSISTENT WITH STATEMENTS THE ADMINISTRATION HAS MADE ABOUT WANTING TO CONTROL INFLATION AND PROVIDE HOUSING OPTIONS TO FOLKS.
SO, UH, WE NEED TO TELL THE STORY MAYBE, UH, USING DIFFERENT WORDS THAN WE HAVE, UH, IN THE PAST, BUT ABOUT THE IMPORTANCE OF THIS FUNDING AND, AND I HAVEN'T GIVEN UP ON THAT EFFORT, BUT WE'RE ALSO, UM, PLANNING FOR A A WORST CASE SCENARIO AS WELL.
MADAM CLERK, PLEASE CALL FOR THE VOTE.
DIRECTOR SPAZA, IF YOU WOULD LIKE TO GIVE A VERBAL VOTE, I CAN TAKE THAT.
ITEM NUMBER TWO IS RECOMMENDATION TO APPROVE THE MINUTES FOR THE LONG BEACH COMMUNITY INVESTMENT COMPANY MEETING OF WEDNESDAY, JANUARY 15TH, 2025.
MAY I HAVE A MOTION FOR THIS ITEM? IT HAS BEEN MOVED BY DIRECTOR CHAMBERS AND SECONDED BY DIRECTOR RAJO.
[2. 25-54381 Recommendation to approve the minutes for The Long Beach Community Investment Company meeting of Wednesday, January 15, 2025. Suggested Action: Approve recommendation. ]
UM, DIRECTORS, DO YOU HAVE ANY QUESTIONS OR CLARIFICATIONS ON THE MINUTES? HEARING NONE WILL NOW TAKE PUBLIC COMMENT.ANYONE WHO WOULD LIKE TO SPEAK ON THE MINUTES, PLEASE LINE UP IN FRONT OF THE MICROPHONE SO YOU HAVE THREE MINUTES TO SPEAK AND HEARING NONE MADAM CLERK, PLEASE CALL FOR THE VOTE.
ITEM NUMBER THREE IS RECOMMENDATION TO RECEIVE AND FILE THE HOUSING SU SUCCESSOR ANNUAL REPORT REGARDING THE LOW AND MODERATE INCOME HOUSING ASSET FUND FOR FISCAL YEAR 2023 THROUGH 2024.
AND DIRECT THE PRESIDENT TO POST AND DISTRIBUTE THE REPORT AS REQUIRED BY SECTION 3 4 1 7 6 0.1 OF THE CALIFORNIA HEALTH AND SAFETY CODE CITYWIDE.
MAY I HAVE A MOTION TO HEAR THIS ITEM? I CAN TAKE A VERBAL VOTE
[3. 25-54382 Recommendation to receive and file the Housing Successor Annual Report Regarding the Low- and Moderate- Income Housing Asset Fund for Fiscal Year 2023-2024 and direct the President to post and distribute the report as required by Section 34176.1 of the California Health and Safety Code. (Citywide) Suggested Action: Approve recommendation. ]
OR EXCUSE ME.DO WE HAVE A FIRST, FIRST BY MOTION? ALL CHAMBERS AND A SECOND.
IT HAS BEEN MOVED BY, UH, BY, BY CHAIR RAMIREZ AND DIRECTOR.
PLEASE HAVE A PRESENTATION FROM THE STAFF.
YEAH, LIZ WITHERS, OUR HOUSING OPERATIONS OFFICER WILL BE GIVING THE STAFF REPORT.
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THANK YOU MEGAN.GOOD AFTERNOON BOARD MEMBERS TODAY WE'RE ASKING FOR YOU TO RECEIVE AND FILE ATTACHMENT A THE HOUSING SUCCESSOR ANNUAL REPORT.
WAIT, AFTER THE DISSOLUTION OF RDA OR THE REDEVELOPMENT AGENCIES, SB 3 41 PROVIDED PARAMETERS ON THE USE OF THE REMAINING LOW MOD HOUSING ASSET.
THE LEGISLATION REQUIRES ANNUAL REPORTING ON THE USE OF THE THESE FUNDS BY NO LATER THAN SIX MONTHS AFTER THE END OF THE FISCAL YEAR, WHICH MEANS THE REPORT'S DUE TO BE POSTED BY APRIL 1ST.
THIS REPORT HAS 13 SECTIONS ON PAGE THREE, SECTION ONE LISTS LOAN REPAYMENTS.
THE SUCCESSOR AGENCY REPAID THE CITY FOR THE LOANS PROVIDED TO THE FORMER REDEVELOPMENT AGENCY AND NO FURTHER LOAN REPAYMENTS ARE REQUIRED.
SECTION TWO HAS A TABLE LISTING DEPOSITS MADE, WHICH TOTALED OVER $1.3 MILLION LAST YEAR, MOSTLY FROM THE LOAN REPAYMENT.
SIMILAR, THERE'S A SIMILAR AMOUNT WAS EARNED LAST YEAR ON PAGE FOUR.
SECTION THREE IS THE ENDING BALANCE OF THE FUND, WHICH IS $3.7 MILLION.
THE BALANCE AT THE END OF LAST YEAR WAS A LITTLE OVER 7 MILLION SECTION FOUR LIST EXPENDITURES OF $4.6 MILLION AND INCLUDES MONITORING, HOUSING ACTIVITIES AND PROPERTY MANAGEMENT AND ADMINISTRATION EXPENDITURES.
WE SPENT MORE ON MONITORING THIS YEAR BY ABOUT 180,000.
WE SPENT MORE ON HOUSING ACTIVITIES, INCLUDING A MILLION DOLLAR ALLOCATION TO 26.2 APARTMENTS AND 436,000 ON SITE PREPARATION, ENVIRONMENTAL STUDIES, AND THE DEMOLITION AND LANDSCAPING FOR THE FOUNTAIN PROJECT, WHICH YOU ALL APPROVED LAST YEAR.
UM, AND WE SPENT A LITTLE BIT LESS IN ADMINISTRATION BY $84,000.
SECTION FIVE LISTS VALUES OF ASSETS OWNED, WHICH TOTAL OVER $84 MILLION AND THAT'S AN INCREASE OF 314,000 IN ASSETS OWNED COMPARED TO THE PRIOR YEAR.
SECTION SIX MAKES A NOTE ABOUT TRANSFERS OF WHICH NONE WERE MADE.
SECTION SEVEN IS TO DESCRIBE PROJECT DESCRIPTIONS FOR TAXES, WHICH THE HOUSING SUCCESSOR DOES NOT HOLD OR RECEIVE ANY PROPERTY TAX REVENUE.
SECTION EIGHT INCLUDES A TABLE TO GO OVER COMPLIANCE AND STATUS ON PROPERTIES.
THE ONLY PENDING STATUS IS THE UPDATE FOR 41 51 EAST FOUNTAIN AND THE PROJECT IS UNDERWAY AND A DISPOSITION AND DEVELOPMENT AGREEMENT WAS EXECUTED APRIL, 2024 ON PAGE SEVEN, SECTION NINE DESCRIBES OUTSTANDING OBLIGATIONS AND THERE ARE NONE.
SECTION TEN'S A TABLE TO CALCULATE FOR THE EXTREMELY LOW INCOME TESTS.
THERE'S THREE LEVELS, EXTREMELY LOW INCOME, VERY LOW INCOME, AND LOW INCOME, AND WE MUST BE AT AT LEAST 30% FOR EXTREMELY LOW INCOME.
LAST YEAR WE WERE AT 81%, WHICH MEANS WE MET THAT OBLIGATION ON PAGE EIGHT.
SECTION 11 IS A TABLE TO CALCULATE FOR THE SENIOR HOUSING TEST, WHICH CANNOT EXCEED 50% IN THE LAST 10 YEARS.
SECTION 12 IS A TABLE TO CALCULATE THE EXCESS SURPLUS TEST AND THERE'S CURRENTLY NO EXCESS SURPLUS.
LAST YEAR THERE WAS ALSO NO EXCESS SURPLUS AND IT BASICALLY MEANS WE'VE BEEN SPENDING DOWN OUR FUNDS EACH YEAR.
SECTION 13 IS A TABLE STATING HOW MANY HOME OWNERSHIP HOME OWNERSHIP UNITS ARE RESTRICTED, WHICH TOTALS 271 AS NOTED IN THE STAFF REPORT, BECAUSE WE EARNED $1.3 MILLION EACH YEAR DURING THE LAST TWO YEARS, BUT WE SPENT 4.6 THIS LAST FISCAL YEAR AND 3 MILLION THE YEAR BEFORE.
OUR FUND BALANCE IS HAVING A NEGATIVE IMPACT EACH YEAR.
THE CITY'S CURRENTLY WORKING ON TWO UPCOMING PROJECTS TOTALING 10 MILLION IN L-B-C-I-C SUBSIDY, WHICH WILL BE FUNDED IN PART BY THE HOUSING SUCCESSOR FUNDS.
BUT IN FUTURE YEARS, AS THE FUND CONTINUES TO DECLINE, THE BC'S ACTIVITIES AND STAFF COSTS WILL CONTINUE TO TRANSITION TO OTHER FUNDING SOURCES SUCH AS THE STATE PLHA FUNDS AND FEDERAL CDBG AND HOME FUNDS IF THOSE FEDERAL FUNDS REMAIN AVAILABLE.
WE'LL ALSO BE LOOKING AT MORE GRANTS AND OTHER SOURCES OF REVENUE TO CONTINUE OUR WORK.
THAT CONCLUDES THE PRESENTATION STAFF'S AVAILABLE TO ANSWER QUESTIONS.
ANY QUESTIONS ON THE PRESENTATION?
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I HAVE ONE.IN THE EVENT FINDING FUNDING SOURCES BECOMES DIFFICULT THEN WHAT FOR OPERATING? YEAH, SO, UM, I, WE HAVE A ABILITY, UM, TO MAINTAIN ALL OF OUR STAFF FOR THE NEXT 24 MONTHS, EVEN IF THERE WERE, UM, KIND OF A DISCONTINUATION OF FUTURE FEDERAL FUNDS.
AND, UM, THIS FUND IS RUNNING LOW, BUT IT'S NOT AT ZERO.
UM, SO THAT GETS US THROUGH THE NEXT 24 MONTHS.
I'M VERY CONFIDENT IN OUR ABILITY TO OBTAIN FUNDING BOTH FROM THE STATE AND FROM THE COUNTY, BUT IN THE UNLIKELY EVENT THAT WE WERE NOT, UM, ABLE TO, THE WAY THAT WOULD WORK IS IT'S A BIG CITY, IT'S A BIG DEPARTMENT.
UM, MY GOAL WOULD BE TO MAKE EVERYONE WHOLE.
SO I DON'T THINK THAT FUNDING FOR AFFORDABLE HOUSING WOULD GO TO ZERO, BUT LET'S SAY IT DROPPED PRECIPITOUSLY.
UM, WE WOULD MAINTAIN SOME STAFF AND WE DO NEED TO DO MONITORING ON OUR PORTFOLIO.
UM, AND WE CONTINUE TO RECEIVE, UM, REPAYMENTS AND MONITORING FEES.
SO IF WE HAD TO SHRINK THE STAFF HERE, BASICALLY THEY, UM, WOULD BE ABSORBED ELSEWHERE IN THE ORGANIZATION.
SO THEY MAY BE DOING SOMETHING NEW IN OUR, UM, BUILDING GROUP OR CODE ENFORCEMENT GROUP.
UM, BUT MY COMMITMENT WOULD BE TO FIND HOMES FOR EVERYONE.
WHEN WE DID THE WIND DOWN OF REDEVELOPMENT, THERE WERE DOZENS AND DOZENS OF EMPLOYEES, UM, IMPACTED.
WE ENDED UP FINDING A JOB FOR ALL BUT ONE.
SO THAT'S, THAT'S MY COMMITMENT TO MAKE ALL OF THE, UM, EMPLOYEES WHOLE.
BUT RIGHT NOW WE JUST, WE WANT TO DISCLOSE, BUT I, THAT'S NOT WHAT I EXPECT TO HAPPEN.
I EXPECT US TO BE ABLE TO FILL, UH, ANY FUNDING GAPS WITH, UM, NEW MONIES FROM THE STATE AND THE COUNTY.
ANY OTHER QUESTIONS? THANK YOU FOR YOUR COMMITMENT.
WE WILL NOW TAKE PUBLIC COMMENT.
ANYONE WHO WOULD LIKE TO SPEAK, PLEASE LINE UP IN FRONT OF THE MICROPHONE AND YOU MAY SPEAK FOR THREE MINUTES.
AND HEARING NONE DIRECTORS, UM, OH, MADAM CLERK, PLEASE CALL FOR THE VOTE DIRECTOR.
AT THIS TIME WE'LL NOW TAKE NON-AGENDA PUBLIC COMMENTS.
ANYONE WHO WOULD LIKE TO SPEAK ON AN ITEM NOT LISTED ON THE AGENDA, PLEASE LINE UP IN FRONT OF THE MICROPHONE.
[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.]
TO SPEAK AND HEARING NONEWELL, IT'S NOT PUBLIC COMMENT, BUT IN YOUR NEXT ITEM WE DO HAVE SOME ANNOUNCEMENTS FOR THE BOARD.
ARE THERE ANY ANNOUNCEMENTS FROM THE DIRECTORS? ARE THERE ANY PUBLIC ANNOUNCEMENTS?
[ANNOUNCEMENTS]
GOOD AFTERNOON.UH, L-B-C-I-C BOARD MEMBERS, I'M MARGARET MADDEN FROM HOUSING AND NEIGHBORHOOD SERVICES BUREAU.
I JUST WANTED TO GIVE YOU AN UPDATE ON SOME ACTIVITIES THAT HOUSING AND NEIGHBORHOOD SERVICES BUREAU HAS BEEN ENGAGED IN.
UM, AND, UH, LAST MONTH WE HOSTED OUR BROOMS ACROSS WEST LONG BEACH CLEANUP THAT I SHARED WITH ALL OF YOU.
I WANTED TO GIVE A SPECIAL SHOUT OUT TO RUBEN MAHAR WHO HELPED RECRUIT THE CARPENTERS UNION LOCAL 5 6 2 TO COME OUT AND HELP US.
WE HAD OVER A HUNDRED VOLUNTEERS, UM, AND WE COLLECTED, UH, OVER 20 TONS OF TRASH AND DEBRIS ON THAT MORNING, UM, INCLUDING EIGHT TIRES, 12 MATTRESSES, AND A REFRIGERATOR.
UM, WE HAD A GREAT TURNOUT FROM THE COMMUNITY WITH OVER A DOZEN PARTNERS AND, UM, I REALLY APPRECIATE, UH, RUBEN HELPING US OUT, UM, EVEN AS HE WAS OUT OF TOWN HELPING TO COORDINATE TO GET THE CARPENTERS UNION TO COME OUT.
UM, WE'VE ALSO COMPLETED OUR RECRUITMENT FOR THE NEIGHBORHOOD LEADERSHIP PROGRAM CLASS OF 2025 AND CONDUCTED ALL OF OUR INTERVIEWS.
OUR, UH, OUR UPCOMING SESSION ONE WILL BE ON, UH, THURSDAY, UH, MARCH THE SIXTH, AND WE HAVE ABOUT A CLASS OF ABOUT 44, UM, SELECTED FOR THIS YEAR'S PROGRAM.
UM, IF THERE'S NO OBJECTION, I DECLARE THIS MEETING ADJOURNED.