* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:10:23] I [00:10:23] WOULD [00:10:23] LIKE TO [CALL TO ORDER] CALL THE LONG BEACH COMMUNITY INVESTMENT COMPANY MEETING TO ORDER FOR MARCH 18TH, 2026. MADAM CLERK, PLEASE READ THE [ROLL CALL] CALL, THE ROLL CALL DIRECTOR. CHAMBERS PRESENT, DIRECTOR ZA, DIRECTOR LEWIS, DIRECTOR EZ PRESENT, DIRECTOR SIDES PRESENT, VICE CHAIR, REJO PRESENT AND CHAIR RAMIREZ. PRESENT, WE HAVE COURT. AND FOR THE RECORD, DIRECTOR LEWIS AND ESPARZA ARE EXCUSED FROM THE MEETING. ARE THERE ANY OBJECTIONS FROM THE COMMISSION? HEARING NONE. UH, PLEASE CALL THE ROLL OR TAKE THE VOTE. UH, WE, WE HAVE CONFIRMED QUORUM. MAY I PLEASE [PLEDGE OF ALLEGIANCE] VOLUNTEER VICE CHAIR MELGAR TO LEAD US IN THE FLAG? SLU MADAM CLERK, PLEASE READ THE FIRST ITEM. ITEM NUMBER [1. 26-54614 Recommendation to receive and file President’s Report.       Suggested Action: Approve recommendation. ] ONE IS A RECOMMENDATION TO RECEIVE AND FILE PRESIDENT'S REPORT. MAY I HAVE A MOTION TO HEAR? THIS ITEM HAS BEEN, OH, SORRY. IT HAS BEEN MOVED BY DIRECTOR CHAMBERS AND SECONDED BY DIRECTOR EZ. I WILL NOW TURN THINGS OVER TO STAFF FOR THE PRESIDENT'S REPORT. UH, CHRISTOPHER, UH, KUNZ IS NOT, UH, HE HAS ANOTHER COMMITMENT AT THIS TIME, SO HE WILL NOT BE ATTENDING. SO YOUR PRESIDENT'S REPORT WILL BE COMING FROM ME AND WE, UM, JUST WANT TO STATE AGAIN THAT WE ARE HAVING A COMMUNITY DEVELOPMENT WEEK, OUR THIRD ANNUAL COMMUNITY DEVELOPMENT WEEK, THE FIRST, THE FIRST FULL WEEK IN APRIL. AND SO WE'LL HAVE A VARIETY OF EVENTS GOING ON THAT WEEK, AND YOU WILL RECEIVE AN EMAIL WITH FURTHER INFORMATION. BUT I SPECIFICALLY WANT TO POINT OUT THAT ON APRIL 7TH, UH, WE WILL BE RECEIVING A PROCLAMATION FROM THE MAYOR. AND SO IT WOULD BE REALLY LOVELY IF SOME OR ALL OF YOU COULD ATTEND TO RECEIVE THAT, UH, PROCLAMATION ALONG WITH STAFF AND SOME MEMBER, UH, AT LEAST ONE REPRESENTATIVE FROM, FROM HUD. UM, AND SO THAT WOULD BE AT THE BEGINNING OF THE COUNCIL MEETING ON APRIL 7TH. AND, UH, ON THAT NOTE, BECAUSE WE HAVE COMMUNITY DEVELOPMENT WEEK GOING ON, UM, AND WE DON'T HAVE A PRESSING ITEM FOR THE MONTH OF APRIL, THERE WILL NOT BE A BOARD MEETING IN APRIL. SO YOU CAN ENJOY THAT DAY OFF AND HOPEFULLY COME TO COUNCIL INSTEAD. OKAY. THANK YOU. UH, WE'LL NOW TAKE PUBLIC COMMENT. ANYONE WHO WOULD LIKE TO SPEAK? OH, SORRY. DIRECTORS. ANY QUESTIONS ON THE PRESIDENT'S REPORT? WHAT TIME? OH YEAH. FIVE O'CLOCK. THANK YOU. OKAY, WE'LL NOW TAKE PUBLIC COMMENT. ANYONE WHO WOULD LIKE TO SPEAK ON THE PRESIDENT'S REPORT, PLEASE LINE UP AT THE PODIUM AT THIS TIME. UH, I JUST HAD ONE QUICK QUESTION. SURE. UM, JUST FOR CLARITY, SO DID I HEAR YOU CORRECT? SO THERE'S NOT GONNA BE A-L-B-C-I-C MEETING NEXT MONTH? CORRECT. OKAY, THANK YOU. NO, THIRD WEDNESDAY. OKAY. AND SEEING NO PUBLIC, UM, MADAM CLERK, PLEASE CALL FOR THE VOTE. VICE CHAIR REJO. I CAN TAKE A VERBAL IF IT'S NOT LOADING. MOTION IS CARRIED. PLEASE READ THE NEXT ITEM. ITEM NUMBER [2. 26-54615 Recommendation to approve the minutes for The Long Beach Community Investment Company meeting of Wednesday, February 18, 2026.       Suggested Action: Approve recommendation. ] TWO IS A RECOMMENDATION TO APPROVE THE MINUTES FOR THE LONG BEACH COMMUNITY INVESTMENT COMPANY MEETING OF WEDNESDAY, FEBRUARY 18TH, 2026. MAY I HAVE A MOTION TO HEAR THIS ITEM? IT HAS BEEN MOVED BY VICE CHAIR MOJO AND SECONDED BY DIRECTOR EZ DIRECTORS. ANY QUESTIONS OR CLARIFICATIONS ON THE MINUTES? OH, SORRY. YEAH, NO QUESTIONS. OKAY. WE'LL NOW TAKE PUBLIC COMMENT. ANYONE WHO WOULD LIKE TO SPEAK ON THE MINUTES, UH, PLEASE LINE UP AT THE PODIUM AND SEEING NONE. MADAME CLERK, PLEASE CALL FOR THE VOTE. [00:15:07] MOTION IS CARRIED. PLEASE READ THE NEXT ITEM. ITEM NUMBER THREE IS A RECOMMENDATION [3. 26-54616 Recommendation to conduct the first public hearing on the preparation of the Fiscal Year (FY) 2026-2027 Action Plan and accept public comment.       Suggested Action: Approve recommendation. ] TO CONDUCT THE FIRST PUBLIC HEARING ON THE PREPARATION OF THE FISCAL YEAR 2026 TO 2027. ACTION PLAN AND ACCEPT PUBLIC COMMENT. MAY I HAVE A MOTION TO HEAR THIS ITEM? IT HAS BEEN MOVED BY DIRECTOR CHAMBERS AND SECOND BY DIRECTOR SLIDES. UM, I WILL NOW TURN THINGS OVER TO STAFF FOR THE PRESENTATION. ELIZABETH WITHERS, OUR OPERATIONS OFFICER, WILL BE GIVING THE, UH, STAFF REPORT. GOOD AFTERNOON BOARD MEMBERS. THIS IS THE FIRST PUBLIC HEARING FOR THE DEVELOPMENT OF THE FISCAL YEAR 26TH THROUGH 27 ACTION PLAN FOR OUR US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT HUD GRANT FUNDS. IN THE PRESENTATION TODAY, I'LL COVER THE CONSOLIDATED PLAN GOALS. AS A REMINDER, THE PRIORITIES AND PRIOR ACTION PLAN ACCOMPLISHMENTS. I'LL ALSO SHARE WHAT ACTIVITIES ARE UNDERWAY IN THE CURRENT ACTION PLAN, AND I'LL OUTLINE THE DEVELOPMENT PROCESS AND TIMELINE AS WELL AS SOME CHALLENGES AND OPPORTUNITIES TO CONSIDER. AS MANY OF YOU KNOW, THE CITY OF LONG BEACH IS AN ENTITLEMENT JURISDICTION FOR HUD GRANT FUNDS. EVERY FIVE YEARS, THE CITY MUST SUBMIT A CONSOLIDATED PLAN TO RECEIVE THESE FUNDS. THE MOST RECENT CONSOLIDATED PLAN WAS APPROVED BY THE CITY COUNCIL IN JULY, 2022, AFTER AN EXTENSIVE COMMUNITY ENGAGEMENT PROCESS, AND IT WILL EXPIRE SEPTEMBER 30TH, 2027. EVERY YEAR, THE CITY MUST DEVELOP AN ANNUAL ACTION PLAN, WHICH DETAILS THE SPECIFIC ACTIVITIES THAT WILL BE UNDERTAKEN TO ADDRESS THE CON PLAN GOALS. FUNDING FOR A GIVEN ACTION PLAN YEAR CAN FLUCTUATE AND IS DETERMINED BY CONGRESS. AT THE END OF EACH ACTION PLAN YEAR, THE CITY PREPARES A CONSOLIDATED ANNUAL PERFORMANCE AND EVALUATION REPORT, OR A CAPER, WHICH EVALUATES HOW THE FUNDED ACTIVITIES PERFORMED AND ASSESSES HOW THIS, HOW THE CITY'S PROGRESSING TOWARDS ITS FIVE-YEAR GOALS. TO THE RIGHT ARE THE THREE DIFFERENT HUD GRANTS WE RECEIVE. THE COMMUNITY DEVELOPMENT BLOCK GRANT IS THE CITY'S MOST FLEXIBLE FUNDING RESOURCE AND CAN BE USED FOR HOUSING AND ACTIVITIES TO PROMOTE ECONOMIC DEVELOPMENT, IMPROVE COMMUNITY FACILITIES, INFRASTRUCTURE AND SERVICES IN COMMUNITIES. THE EMERGENCY, THE HOME INVESTMENT PARTNERSHIP PROGRAM HOME SUPPORTS THE DEVELOPMENT OF AFFORDABLE HOUSING UNITS AND ESG. THE EMERGENCY SOLUTIONS GRANT PROVIDES FUNDING FOR PROGRAMS THAT SUPPORT INDIVIDUALS AND FAMILIES EXPERIENCING HOMELESSNESS. THE LONG BEACH DEPARTMENT OF HEALTH AND HUMAN SERVICES IMPLEMENTS THIS PROGRAM FOR THE CITY. UM, THE CURRENT CONSOLIDATED PLAN GOAL WE'RE I WE'VE IMPLEMENTED IS, UM, WAS APPROVED IN 2022. AND THE COMP PLAN DETAILS ARE GOALS. WHILE THE ACTION PLAN DETAILS, THE SPECIFIC ACTIONS THE CITY WILL TAKE, WE DO NOT START FROM SCRATCH EVERY ACTION PLAN YEAR. WE ESSENTIALLY LOOK AT WHAT'S WORKING BEST OR WHAT WE NEED TO DO DIFFERENTLY IN ORDER TO MEET THOSE FIVE YEAR GOALS. WE'RE CURRENTLY ADMINISTERING THE FISCAL YEAR 25 THROUGH 26 ACTION PLAN, WHICH IS THE FOURTH ACTION PLAN UNDER THIS CONSOLIDATED PLAN CYCLE. AND IN THE NEXT FEW SLIDES, WE'LL DETAIL THE PROGRAMS AND ACTIVITIES THAT ARE UNDERWAY AND THEIR ACCOMPLISHMENTS, WHICH WERE REPORTED IN THE CAPER IN DECEMBER. HERE'S A LITTLE MORE DETAIL ABOUT THE CAPER PROCESS. AT THE END OF A GIVEN ACTION PLAN YEAR, WE REPORT BACK TO THE COMMUNITY IN HUD ON THE ACCOMPLISHMENTS UNDERTAKEN THAT HELP US MEET OUR GOALS. WE ALSO EVALUATE, UM, A LOT OF FINANCIAL INFORMATION RELATED TO THE DELIVERY OF THE ACTIVITIES. AND LAST WEEK WE WERE INFORMED BY HUD THAT THEY'VE REVIEWED OUR MOST RECENTLY SUBMITTED CAPER, WHICH COVERED THE 24 25 PROGRAM YEAR, AND THEY DETERMINED THAT THE CITY OF LONG BEACH HAS MET PROGRAM REQUIREMENTS AND HAS THE CAPACITY TO CONTINUE TO CARRY OUT OUR GRANT FUNDS. IN THE NEXT FEW SLIDES, WE'LL DETAIL OUR PROGRESS TOWARDS THE FIVE YEAR GOALS. THE ACCOMPLISHMENT DETAIL YOU SEE HERE ONLY COVERS THE FIRST THREE ACTION PLANS UNDER THIS CYCLE AS THE FOURTH ACTION PLAN IS CURRENTLY UNDERWAY. SO WITH THAT BEING SAID, ACTIVITIES THAT ARE AT OR NEAR 60% OF THEIR FIVE YEAR GOAL ARE ON TRACK TO MEET THEIR TARGETS BY THE END OF THIS CONSOLIDATED PLAN CYCLE, BEGINNING WITH GOAL ONE, CREATE AND PRESERVE AFFORDABLE HOUSING. OUR FIVE YEAR GOAL FOR NEW CONSTRUCTION IS 540 UNITS. SO FAR WE'VE COMPLETED 163, WHICH IS 30% OF OUR FIVE YEAR GOAL, BUT WITH ANOTHER 669 CURRENTLY UNDERWAY, ONCE THE THOSE UNITS ARE COMPLETED, WE'LL BE AT 124% OR MORE OF THAT GOAL. AND THAT GOAL WAS THE, UM, MOST IMPORTANT GOAL DETERMINED BY COMMUNITY IN THE LAST PLANT CYCLE FOR SECURITY DEPOSITS. THE FIVE YEAR GOAL WAS 325, OF WHICH 164 HAVE BEEN ASSISTED, WHICH IS 51% OF THE FIVE YEAR GOAL. FOR CON PLAN TWO SUPPORT ACTIVITIES TO END HOMELESSNESS, WE HAVE EMERGENCY SHELTER, WHICH HAS MET 63% OF ITS GOALS, [00:20:01] HOMELESS PREVENTION AT 50% AND RAPID REHOUSING AT 48% FOR CONSOLIDATED PLAN. GOAL THREE, ELIMINATE BLIND AND STRENGTHENING NEIGHBORHOODS. MANY ACTIVITIES ARE AT OR CLOSE TO THAT 60% BENCHMARK AFTER SCHOOL AND WEEKEND RECREATIONS AT 62. NEIGHBORHOOD LEADERSHIP PROGRAM AT 64, THE SENIOR SERVICES PROGRAM AT 58. OTHER ACTIVITIES ARE ON PACE TO EXCEED THEIR FIVE YEAR GOALS, SUCH AS THE GRAFFITI REMOVAL PROGRAM AT 82% GRAFFITI PREVENTION MURAL RESTORATION AT 74%. AND THE OTHERS ARE JUST SHY OF THAT 60% BENCHMARK, BUT ARE EXPECTED TO MEET THEIR FIVE YEAR GOAL. CONSOLIDATED PLAN. GOAL FOUR, EXPAND ECONOMIC OPPORTUNITIES AS SUPPORTED BY THE L-V-C-I-C SMALL BUSINESS DEVELOPMENT CENTER, WHICH HAS MET 72% OF ITS FIVE YEAR GOAL SO FAR. AND LASTLY, GOAL FIVE, PROMOTE FAIR HOUSING IS AT 48% OF ITS FIVE YEAR GOAL. NOW WE WANNA QUICKLY COVER FUNDING TRENDS ACROSS THE DIFFERENT HUD GRANTS WE RECEIVE OVER THE YEARS. AS YOU CAN SEE, THE AVERAGE GRANT AMOUNT ALLOCATED TO LONG BEACH HAS BEEN ON A STUDY DECLINE OVER THE LAST SEVERAL YEARS. THE DECLINE IN THE AVERAGE GRANT AMOUNT IS BOTH A FUNCTION OF FEWER DOLLARS APPROPRIATED BY CONGRESS AND AN INCREASE IN THE NUMBER OF ENTITLEMENT COMMUNITIES. SINCE HUD ENTITLEMENT FUNDING CONTINUES TO DECREASE, LEVERAGING RESOURCES AND ALIGNING PROGRAMS WILL BE AN IMPORTANT FACTOR TO CONSIDER AS WE IMPLEMENT OUR NEXT CONSOLIDATED PLAN AND FUTURE ACTION PLANS. ON FEBRUARY 3RD, 2026, CONGRESS APPROVED THE THUD, THE TRANSPORTATION, HOUSING AND URBAN DEVELOPMENT APPROPRIATIONS BILL, THE 13.3 BILLION ALLOCATED TO THE HUD OFFICE OF COMMUNITY PLANNING AND DEVELOPMENT, WHICH HOUSES CDBG HOME AND ESG REPRESENTS A 0% CHANGE IN FUNDING COMPARED TO THE FISCAL YEAR 2025 APPROPRIATION AT THE FEDERAL LEVEL. HOWEVER, CITY STAFF DO ANTICIPATE REDUCTIONS IN OUR LOCAL ALLOCATION AND CHANGES TO PROGRAMS DUE TO INCREASED COSTS SUCH AS WAGES AND INFLATION REDUCTIONS IN NON-FEDERAL FUNDING SOURCES AND COMPLEX FEDERAL RESTRICTIONS THAT ARE IN FLUX. DUE TO RULEMAKING AND CURRENT LITIGATION, CITY STAFF CONTINUE TO EXPLORE NEW FUNDING OPPORTUNITIES AND AS MENTIONED IN THE STAFF REPORT, WE'RE LOOKING TO LEVERAGE RESOURCES BETTER ALIGN ACTIVITIES, WORK WITH PARTNERS TO MEET MULTIPLE HIGH-NEED PRIORITIES, UM, PARTICULARLY FOR THE CREATION, UM, AND SUPPORT OF AFFORDABLE HOUSING STAFF EXPECT TO HAVE MORE CONCRETE DETAILS ABOUT THE PROPOSED BUDGET CHANGES AND HOW THOSE CHANGES MAY IMPACT OUR HUD FUNDED ACTIVITIES HERE IN LONG BEACH AT THE SECOND PUBLIC HEARING HAPPENING JUNE 10TH. THE ACTION PLAN DEVELOPMENT PROCESS INCLUDES CONTINUING TO ADDRESS PRIORITY NEEDS AND OUR GOALS, AS WELL AS CONSIDERATION FOR OTHER PLANS SUCH AS OUR HOUSING ELEMENT AND CORE SERVICES OF THE COMMUNITY DEVELOPMENT DEPARTMENT. WE COLLECT AND CONSIDER PUBLIC INPUT. IN THE NEXT SLIDE, I'LL DETAIL WHAT EFFORTS WE'VE DONE SO FAR, AND AS WE JUST SAW, WE EXAMINE ENTITLEMENT TRENDS, ANALYZE OUR RESOURCES, AND IN THAT INCLUDES PROGRAM INCOME AND ANY PRIOR YEAR UNSPENT FUNDS FOR CURRENT COMMUNITY OUTREACH. THE CITY'S IMPLEMENTING A VARIETY OF APPROACHES TO GATHER INPUT FOR THE DEVELOPMENT OF THE ACTION PLAN. THIS INCLUDES TWO PUBLIC HEARINGS ISSUING A MULTILINGUAL SURVEY, WHICH IS AVAILABLE ONLINE AND IN HARD COPY, UTILIZING SOCIAL MEDIA AND OUR WEBSITES TO SPREAD AWARENESS ABOUT OUR ACTION PLAN AND ITS FUNDED PROGRAMS AND OPPORTUNITIES TO PROVIDE INPUT. ADDITIONALLY, AS MEGAN MENTIONED, FOR THE THIRD CONSECUTIVE YEAR, THE CITY'S PARTICIPATING IN NATIONAL COMMUNITY DEVELOPMENT WEEK IN APRIL. AND I, I CAN SHARE MORE DETAILS IN THE NEXT SLIDE. THESE ARE ALL THE IMPORTANT DATES FOR OUR ACTION PLAN DEVELOPMENT ON MARCH 2ND. THE SURVEY WENT LIVE. IT WILL REMAIN OPEN FOR TWO MONTHS. IT'S CLOSING ON MAY 2ND. THE SURVEY IS AVAILABLE IN ENGLISH, SPANISH AND QAI STAFF HAVE BEEN ATTENDING COMMUNITY EVENTS TO PRESENT TABLE AND, UM, SURVEY FOR THE ACTION PLAN, AND WE'LL CONTINUE TO DO SO THROUGHOUT THE MONTH OF MAY. TODAY IS MARCH 18TH, THE DAY OF OUR FIRST PUBLIC HEARING. THE WEEK OF APRIL 6TH THROUGH 11TH IS COMMUNITY DEVELOPMENT WEEK. WE'RE GONNA BE SHOWCASING AN AFFORDABLE HOUSING PROMO VIDEO AT THE PROCLAMATION, WHICH WE HOPE YOU DO ATTEND. UM, WE HAVE A PROGRAM ANNOUNCEMENT ABOUT THE SECOND ROUND OF BACKYARD BUILDERS ON APRIL 8TH. THE VIRTUAL ACTION PLAN WORKSHOP WILL BE APRIL 9TH, AND WE'LL HAVE AN IN-PERSON COMMUNITY CLEANUP ON APRIL 11TH, WHICH IS A SATURDAY. STAFF WILL ALSO BE CONDUCTING DOOR-TO-DOOR CANVASSING THAT WEEK, AND WE'LL BE BUSY ON MAY 5TH. A DRAFT OF THE ACTION PLAN WILL BE MADE AVAILABLE FOR PUBLIC REVIEW AND COMMENT. THE DRAFT WILL BE AVAILABLE ON OUR WEBSITE BY EMAILING OUR TEAM VISITING THE MAIN LIBRARY OR VISITING US AT CITY HALL ON JUNE 10TH. THE SECOND AND FINAL PUBLIC HEARING WILL BE CONDUCTED WITH YOU ALL HERE AT L-B-C-I-C. AND THEN THE PLAN WILL BE FOR IT TO GO TO CITY [00:25:01] COUNCIL FOR FINAL APPROVAL ON JUNE 16TH. WELL, NOT FINAL, HUD, HUD HAS TO DO THE FINAL BUT ALMOST FINAL. WE'LL SUBMIT THE ACTION PLAN NO LATER THAN AUGUST 15TH. AND IF WE GET THAT FINAL APPROVAL, THEN THE ACTION PLAN WILL GO INTO EFFECT OCTOBER 1ST, 2026. WITH THAT, OUR RECOMMENDATION IS TO CONDUCT THE FIRST PUBLIC HEARING ON THE PREPARATION OF THE FISCAL YEAR 26, 27 ACTION PLAN AND ACCEPT THE PUBLIC COMMENT. OKAY, THANK YOU. THAT CONCLUDES THE PRESENTATION. THANK YOU DIRECTORS. ANY QUESTIONS ON THE PRESENTATION? UH, I HAVE A QUESTION. IT'S NOT SPECIFIC TO THE PRESENTATION, BUT, UM, AND MAYBE MEGAN, YOU CAN ANSWER THIS TOO, OR THE, ON THE SEVENTH AT 5:00 PM WHERE'S THE EXACT LOCATION? RIGHT HERE. OKAY. I CAN'T PROMISE YOU WHEN YOU'LL BE OUT OF HERE. PROCLAMATIONS ARE GENERALLY DONE TOWARDS THE BEGINNING OF THE MEETING. UM, BUT PLAN ON A GOOD HOUR. THANK YOU LADIES. THAT WAS IT. UM, OH, THIS IS NOT WORKING. THERE WE GO. HOW MANY OF THE, UM, UNITS ARE GONNA BE DONE WITHIN THE NEXT TWO YEAR PERIOD? SO WHAT PERCENT ARE WE TARGETING OR EXPECTING TO TARGET? I THINK ABOUT HALF WILL BE COMPLETED, BUT IT'S HARD TO ESTIMATE BECAUSE A LOT OF THE CONSTRUCTION IS DEPENDENT ON SYLVIA'S TEAM TEAM, BUT WE USUALLY, WE'RE USUALLY PRETTY CLOSE AND WE HAVE A JUSTIFICATION IF THEY'RE UNDERWAY AFTER THE END OF THE FIVE YEAR CONSOLIDATED PLAN. WE JUST EXPLAIN THAT TO HUD AND USUALLY THEY'RE FINE WITH US REPORTING THE COMPLETED UNITS IN THE NEXT CYCLE. FOR THE, FOR THE ITEMS THAT WE'RE STILL KIND OF LOWER ON THE PERCENTAGE, UH, SCALE, DO WE HAVE A PLAN FOR HOW TO GET THOSE DOLLARS MOVING MORE? YEAH, SOME OF THE ISSUES HAVE BEEN CONTRACTS. SO SOME OF THOSE PARTNERS, UM, HAVE INITIATED NEW CONTRACTS AND WE'RE, WE HAVE MONTHLY MONITORING MEETINGS FOR A LOT OF THOSE PARTNERS WHERE WE'RE, UM, COMING UP WITH PLANS WITH THEM TO BE ABLE TO SPEND UP, BUT THEY'RE NOT, THAT THEY'RE NOT AS LOW AS THEY HAVE BEEN IN PAST CONLAND CYCLES. ANY OTHER QUESTIONS? NO. OKAY. ALL RIGHT. MADAM CLERK, PLEASE CALL FOR THE VOTE. UM, BEFORE I'LL CALL FOR PUBLIC COMMENT. IF THERE ARE ANY MEMBERS OF THE PUBLIC THAT WOULD LIKE TO PROVIDE PUBLIC COMMENT ON ITEM NUMBER THREE, PLEASE LINE UP AT THE PODIUM AT THIS TIME. SEEING NONE. THAT CONCLUDES PUBLIC COMMENT FOR ITEM THREE. MOTION IS CARRIED. PLEASE READ THE NEXT ITEM. THE NEXT WOULD [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.] BE NON-AD AGENDA, PUBLIC COMMENT. IF ANYONE WOULD LIKE TO PROVIDE NON-AG AGENDA, PUBLIC COMMENT, PLEASE LINE UP AT THE PODIUM AT THIS TIME. SEEING NONE. THAT CONCLUDES NON AGENDA, PUBLIC COMMENT. OKAY. UH, DIRECTORS, ARE [ANNOUNCEMENTS] THERE ANY ANNOUNCEMENTS? NO. OKAY. WELL THEN IF THERE'S NO OBJECTION, [ADJOURNMENT] I DECLARE THIS MEETING ADJOURNED. THANK YOU. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.