Aug 05, 2026 Economic Development Commission

DO THE ROLL CALL? COMMISSIONER HAKES.

JULIAN .

DO WANNA

[ROLL CALL]

HERE.

COMMISSIONER MATOYA? HERE.

COMMISSIONER NEVIN.

COMMISSIONER NORDIC.

HERE.

COMMISSIONER NOVIN? HERE.

COMMISSIONER PEREZ.

HERE.

COMMISSIONER SANDOVAL? HERE.

HERE WE HAVE A QUORUM.

I HAVE VICE CHAIR THOMAS AS AN EX.

UH, SENT US AN EMAIL.

I'M EXCUSED.

ABSENCE.

WHY DON'T WE MOVE ON TO THE, UH, AGENDA ITEMS. CAN YOU PLEASE READ OUT THE FIRST AGENDA ITEM?

[1. 26-55745 Recommendation to approve the minutes for the Economic Development Commission meeting of Wednesday, June 3, 2026. Suggested Action: Approve recommendation. ]

ITEM ONE.

RECOMMENDATION TO APPROVE THE MINUTES FOR THE ECONOMIC DEVELOPMENT COMMISSION MEETING OF WEDNESDAY, JUNE 3RD, 2026.

COULD I HAVE A MOTION? I MAKE A MOTION TO SUPPORT.

COMMISSIONER PEREZ.

ANY MOTION? UH, HOW ABOUT COMMISSIONER? LOOKS LIKE I HAVE A MOTION FROM, UH, COMMISSIONER ES.

AND SECOND FROM COMMISSIONER NORDIC.

IT'S SPEEDY THROUGH THE SCREEN.

YOU COULD DO THE NEXT MOTION.

UM, ANY, DO I HAVE ANY, UM, COMMENTS ON THE MINUTES, QUESTIONS, POINTS OF CLARIFICATION? ANY PUBLIC COMMENTS? IF THERE ARE ANY MEMBERS OF THE PUBLIC THAT WOULD LIKE TO SPEAK ON ITEM ONE, PLEASE COME UP TO THE PODIUM.

SING NONE.

COULD WE PLEASE TAKE A VOTE? MOTION IS CARRIED.

YOU PLEASE READ OUT THE SECOND AGENDA ITEM.

[2. 26-55747 Recommendation to adopt the updated Economic Development Administration (EDA) Revolving Loan Program Administrative Plan for the City of Long Beach. Suggested Action: Approve recommendation. ]

ITEM TWO.

RECOMMENDATION TO ADOPT THE UPDATED ECONOMIC DEVELOPMENT ADMINISTRATION REVOLVING LOAN PROGRAM.

ADMINISTRATIVE PLAN FOR THE CITY OF LONG BEACH.

UH, SO I'LL PASS IT OVER TO CARLA AND COLTON TO GET THE, UH, PRESENTATION STARTED.

COULD I PLEASE HAVE A MOTION? OKAY.

MOTIONS MOVED BY COMMISSIONER WENCH AND SECOND BY COMMISSIONER SANDOVAL.

ANY COMMENTS, UPDATES, QUESTIONS? DO YOU, DO YOU WANNA DO A REPORT ON THIS FIRST, JULIAN? ABSOLUTELY.

'CAUSE I, OKAY.

WHY DON'T YOU GO AHEAD.

YEAH, NO PROBLEM.

CHAIR.

UM, SO YOU MIGHT RECALL A COUPLE MONTHS AGO, UH, WE SHARED THE ADMIN, UH, THE, UH, ADMIN PLAN FOR THE REVOLVING LOAN FUND.

UH, AND THEN, UH, THE COMMISSION WANTED ADDITIONAL TIME TO REVIEW THE DOCUMENT.

UH, SO WE, YOU KNOW, WE, UH, FORTUNATELY WE WERE DARK LAST MONTH, SO WE, UH, PROVIDED, YOU KNOW, AN ADDITIONAL 60 DAYS.

UH, AND I WANTED TO THANK, UH, THE COMMISSIONERS THAT, UH, DID REVIEW AND THEN PROVIDED THE FEEDBACK.

UH, YOU'LL SEE HERE, UH, CARLA AND GANO AND COLTON CONNOR FROM OUR TEAM WILL, UH, DO A REFRESHER FOR YOU GUYS AND THEN ALSO JUST KIND OF POINT OUT, UH, SOME OF THE CHANGES THAT WERE MADE.

[00:15:01]

THANK YOU, JULIAN.

UM, THANK YOU COMMISSIONERS.

UH, AS JULIA MENTIONED, UH, DURING OUR JUNE 3RD MEETING, WE PRESENTED THE UPDATED PLAN, AND THEN WE, UH, SENT IT OUT WITH YOU TO REVIEW AND TO PROVIDE UPDATES.

SO, UH, WE DID RECEIVE A COUPLE, SO WE REALLY APPRECIATE IT.

BUT WE WANTED TO JUST GIVE YOU JUST A HIGH LEVEL, UH, REVIEW OF THE, THE, THE UPDATES THAT WERE MADE.

SO, THE FIRST UPDATE THAT WAS MADE, WE ADDED A FOOTNOTE REFERENCE, UH, FOR ALL THE QUANTITATIVE DATA CITED IN THE PLAN THAT WASN'T THERE IN THE PREVIOUS PLAN.

THAT WAS ACTUALLY IN 2015.

SO IT'S BEEN 10 YEARS, UH, MORE THAN 10 YEARS.

UH, WE WANTED TO MAKE SURE THAT, UH, YOU HAD REFERENCES REFERENCE POINTS TO ALL OF THE INFORMATION THAT WAS IN THE PLAN.

WE ALSO UPDATED THE ECONOMIC ADJUSTMENT PROBLEM SECTION, WHICH IS ON PAGE ONE, AGAIN FROM 2015 THROUGH 2025.

SO YOU'LL SEE INFORMATION IN THE RANGE OF TIME THAT'S ON PAGE ONE.

WE UPDATED THE STRATEGIC ADJUSTMENT GOAL, WHICH IS, UH, WE MADE SURE THAT IT'S IN ALIGNMENT WITH THE LONG BEACH STRATEGIC VISION OF 2030, AND ALSO WITH THE GROW LONG BEACH ECONOMIC BLUE BLUEPRINT 2.0.

AND WE MADE SURE THAT IT WAS ALSO IN ALIGNMENT WITH THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY.

THAT'S ON PAGE SIX.

WE INCLUDED NOT ONLY A REFERENCE, BUT WE ACTUALLY INCLUDED THOSE GOALS.

WE DIDN'T WANT IT TO JUST BE A REFERENCE SO THAT YOU WOULD HAVE TO GO OUTSIDE OF THE DOCUMENT TO FIND THOSE GOALS.

SO WE MADE SURE THAT THOSE GOALS ARE EMBEDDED IN THE DOCUMENT ITSELF.

NEXT SLIDE.

UH, WE RISE ALL REFERENCES BECAUSE, AS YOU KNOW, IN OCTOBER OF 25, THE ECONOMIC DEVELOPMENT DEPARTMENT, WE, UH, RELAUNCHED AS THE ECONOMIC DE ECONOMIC, EXCUSE ME, THE LONG BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT AND OPPORTUNITY.

SO WE WENT THROUGH THE DOCUMENT AND MADE SURE TO REFERENCE AND UPDO UPDATE THE DEPARTMENT.

WE REVISED STATISTICS IN THE TARGET BUSINESS CHARACTERISTICS SECTION, WHICH IS PAGE 11.

WE INCLUDED SOME INFORMATION FROM A MARKET STUDY THAT WAS CONDUCTED BY COSMO FOR THE WEST SIDE PROMISE.

AND SOME OF THE INFORMATION WAS GENERAL TO THE CITY OF LONG BEACH.

AND WE UPDATED THE SECTION THERE.

WE ALSO ADDED INFORMATION TO THE FINANCING NI NICHE SECTION AND MORE CLEAR DEFINITIONS OF THE LOAN PRODUCT TYPES, INCLUDING RESILIENCE LOANS, FORMERLY CALLED EMERGENCY LOANS.

AS WE TALKED ABOUT LAST WEEK, DURING THE PANDEMIC, WE HAD EMERGENCY LOANS THAT RANGED FROM 2,500 ALL THE WAY TO 10,000.

AND WE WANTED TO INCLUDE THAT IN THE LOANS THAT WE HAD.

BUT INSTEAD OF CALLING THEM EMERGENCY LOANS, WE UPDATED THAT TO RESILIENCY LOANS.

THAT'S FOUND ON PAGE 14.

THE NEXT ONE, WE ADDED INFORMATION ON DE FEDERALIZED FUNDS.

UH, WE WERE ABLE TO DE FEDERALIZE OUR FUNDS BACK IN, BELIEVE IT WAS 2023.

AND WE WERE ABLE TO USE THOSE FUNDS IN A VARIETY OF WAYS.

AND, BUT WE HAVE PUT THOSE FUNDS BACK INTO THE LOAN PROGRAM THAT'S FOUND ON PAGE 16.

WE UPDATED THE EQUITY EQUITY POLICY TO REFLECT 20% REQUIREMENT.

UH, WE, WE, THE, THE LANGUAGE THAT WE HAD BEFORE, IT WAS FROM A MINIMUM OF 10% INCREASED TO THE 20%.

WE WANTED TO MAKE SURE THAT BUSINESSES INVE THAT CAME TO, UH, REQUEST A LOAN WERE DETERMINED BY ADDING MORE OF THEIR EQUITY INTO IT.

WE ALSO UPDATED THE COST PER JOB.

UH, WE UTILIZED THE CDBG, THE COMMUNITY DEVELOPMENT BLOCK GRANT FUNDING FOR ONE JOB FOR EVERY $35,000 LENT.

AND THAT HAS ALWAYS BEEN OUR MINIMUM.

BUT NOW WE'VE UPDATED TO HAVE IT BE MORE THE ECONOMIC DEVELOPMENT ADMINISTRATION STANDARD, WHICH IS ONE JOB PER EVERY $75,000 LENT.

YOU CAN FIND THAT ON PAGE 20.

WE ALSO REVISE THE MINIMUM PORTFOLIO LEVERAGING RATIO TO POINT 25 PRIVATE TO $1 OF RLF INVESTMENT PER PRIOR EDA WAIVER AND APPROVAL.

AND THAT'S ON PAGE 20.

AND WE REMOVED THE IN ELIGIBILITY FOR NON-PROFIT ORGANIZATIONS.

THAT WAS A BIG, UH, DISCUSSION THAT WE'VE HAD.

AND THAT'S MORE OF A, UH, OF THE ADDENDUM.

'CAUSE WE WANTED TO ENSURE THAT WITHIN THE ADMIN PLAN ITSELF, THAT WE HAD THE RANGE OF LOANS.

BUT WE WANTED TO ENSURE THAT WE OFFERED LOANS TO NONPROFITS THAT WERE IN CONTRACT WITH THE CITY OF LONG BEACH.

[00:20:02]

AND THEN WE UPDATED THE LOAN PROCESSING PROCEDURE SECTION WITH CURRENT OPERATIONAL DESCRIPTION AND INFORMATION, INCLUDING THE LINK TO THE ONLINE APPLICATION, WHICH WE THINK IS VERY IMPORTANT.

THAT LINK IS ALWAYS ALIVE FOR INDIVIDUALS TO JUST CONNECT UP.

BUT THE MAJORITY OF THE LOANS THAT WE GET ARE REFERRALS.

WE ALSO, UH, UPDATED ADDITIONAL DETAILS TO THE PROCEDURES FOR LOAN DECISION SECTION.

AND THAT'S ON PAGE 25.

AND WE UPDATED THE LOAN COMMITTEE AUTHORITY TO APPROVE LOANS, UH, 10 A HUNDRED THOUSAND DOLLARS OR LESS.

THE, THE LANGUAGE BEFORE SAID A HUNDRED THOUSAND.

SO WE, WE HAD LOANS THAT WOULD BE RIGHT UP TO THAT TO 99,000.

SO INSTEAD OF TELLING PEOPLE, OH, YOU HAVE, WE COULD ONLY APPROVE A LOAN UP TO, YOU KNOW, A HUNDRED THOUSAND, IT'S UP TO A HUNDRED THOUSAND.

SO BEFORE IT WAS, WE WOULD APPROVE IT TO 99.

NOW IT'S, WE GO ALL THE WAY TO A HUNDRED THOUSAND.

AND WITHIN THAT WE SAID A HUNDRED THOUSAND UP TO 350,000.

BUT WE WANNA MAKE SURE THAT IT'S UNDERSTOOD THAT WE STILL WANT TO ENSURE THAT WE HELP A LOT OF SMALL BUSINESSES.

SO WE UTILIZE THE, THE RLF, THE MICRO ENTERPRISE LOAN FUNDING FOR UP TO A HUNDRED THOUSAND.

IF A LOAN BORROWER IS INTERESTED IN MORE THAN A HUNDRED THOUSAND, WE CONNECT THEM WITH OUR GROW AMERICA.

UH, IF WE WERE TO USE UP TO 350,000, THAT WOULD DEPLETE OUR LOAN FUNDS, UH, FOR THE SMALL BUSINESSES.

SO WE WANNA ENSURE THAT WE'RE ABLE TO STILL HELP THE MAXIMUM NUMBER OF BUSINESSES THAT ARE INTERESTED AND THEN UTILIZE OUR GROW AMERICA FUND THAT WE HAVE OVER 14 MILLION IN.

AND THEN THE LAST, UH, WE ADDED THE ADDENDUM, AS I MENTIONED.

AND WITHIN THE ADDENDUM WE TALKED ABOUT OUR DE FEDERALIZED FUNDS USE AS WELL AS THE NONPROFIT AND AS WELL AS THE RESILIENCY LOANS THAT WE MENTIONED THAT WERE ONCE THE EMERGENCY LOANS.

SO, HAVING SAID THAT, I JUST WANTED, YOU KNOW, WHO THE TEAM IS.

SO THAT'S MYSELF, COLTON, WHO IS HERE WITH ME, AND ANDREA MARTINEZ, WHICH SHE'S WITH GROW AMERICA, AND COULDN'T BE WITH US TODAY.

UM, WITH THAT, UH, WE'LL TAKE ANY QUESTIONS THROUGH THE CHAIR.

UM, KEN, COMMISSIONER, DO YOU HAVE ANY QUESTIONS? ANY COMMENTS, UM, FROM THE UPDATES THAT THEY GAVE US ON THIS DOCUMENT? OKAY.

I HAVE COMMISSIONER SANDOVAL AND THEN KA TOYER.

THANK YOU FOR, THANK YOU FOR THAT PRESENTATION.

UM, ALL IN, IN SUPPORT TO RECEIVE THE FUNDS SO THAT THE PROGRAM CAN CONTINUE TO GROW AND, UH, AND SERVE OUR BUSINESSES.

SO I HAVE A COUPLE OF QUESTIONS AND, AND I APOLOGIZE FOR NOT CATCHING IT EARLIER, BUT, UM, SOME OF THE QUESTIONS THAT I HAD WAS, UH, JUST INITIALLY ON THE LAST COUPLE FEW COMMENTS WERE THE EQUITY POLICY.

WHAT'S THE JUSTIFICATION TO INCREASE IT FROM A, A RANGE OF 10% TO 20%? BECAUSE 20% IS PRETTY HIGH, UM, FOR, FOR A, A BORROWER, UM, THAT'S LOOKING FOR FINANCING WHEN THEY'RE, YOU KNOW, THEY MAYBE NOT HAVE A LOT, RIGHT? I KNOW THAT THERE'S ALSO NO COLLATERAL NEEDED INITIALLY.

UM, AND SOMETIMES THERE'S A DEPO, A DEPOSIT REQUIRED FOR THEM TO, TO ALSO, UM, ACQUIRE THE LOAN OR AT LEAST A GOOD FAITH DEPOSIT.

AND I DON'T KNOW IF THAT'S A REQUIREMENT HERE, AT LEAST IT WASN'T SPECIFIED OR THAT I CAUGHT IT.

BUT WHAT'S THE, WHAT'S THE REASONING BE BEHIND THE 20%, UH, EQUITY INCREASE? AND THEN I HAVE ANOTHER QUESTION.

THAT'S THE COLLATERAL SECTION.

SO THE FIRST THING IS, THERE IS COLLATERAL.

WE HAVE A GUARANTEE FOR EVERY LOAN THAT WE, UH, PROVIDE.

SO THE GUARANTEE IS A PERSONAL GUARANTEE.

THE LOAN IS DONE FOR THE BUSINESS, BUT IF THE BUSINESS IS UNABLE TO PAY THE LOAN BACK FOR WHATEVER REASON, THEN THE INDIVIDUAL BORROWER IS RESPONSIBLE FOR THAT LOAN.

SO THAT'S A PERSONAL GUARANTEE.

AS FAR AS THE EQUITY, WHAT WE FOUND IS WE, WE NEEDED TO INCREASE THE EQUITY BECAUSE WE KNOW THAT ONCE WE HAVE THAT INCREASE, THEY'LL BE MORE VESTED IN PAYING THAT LOAN BACK AND HAVE THE EQUITY TO PAY THAT LOAN BACK.

WHEN WE HAD IT LOWER.

WE ARE, WE HAD MORE BORROWERS THAT WEREN'T PAYING THEIR LOAN ON TIME OR NOT, UM, ENSURING THAT THEY PAID THEIR LOAN IN FULL.

SO THAT'S WHY WE INCREASED IT.

UH, WE'VE HAD, WHERE WE'VE GIVEN LOANS OUT AND ARE TRYING TO FIND THOSE BORROWERS THAT, OR HELP THOSE BORROWERS THAT AREN'T NECESSARY NECESS, WE HAVEN'T PUT THEM IN DEFAULT, AND WE ARE TRYING TO KEEP THEM FROM BEING IN DEFAULT.

SO THAT'S WHY WE INCREASE, BECAUSE WE KNOW THAT IF THEY HAVE A BIGGER INVESTMENT INTO THE LOAN, THEN THEY'LL BE MORE WILLING TO PAY THE LOAN BACK.

UM, SO IS THERE, IS THERE LIKE A STUDY OR DATA POINTS TO, TO SUPPORT THAT? UM, JUST, JUST TO UNDERSTAND THAT A BIT BETTER? UM, AND I TOTALLY GET THAT IT'S, YOU WANT,

[00:25:01]

IT'S JUST BASED ON YOU WANT 'EM TO BUY IN AND CORRECT.

YEAH.

HAVE IT TAKEN IT, IT'S JUST THE STUDY IS OUR PORTFOLIO.

UM, IS THERE AN OPPORTUNITY TO CREATE A RANGE THERE AND FOR THAT MINIMUM, FOR THAT MINIMUM REQUIREMENT? OR WOULD YOU REVISIT THAT IN THE CASE THAT MORE BORROWERS JUST CANNOT COME UP WITH A 20%, MEANING YOU'LL HAVE LESS, LESS APPLICANTS DOWN THE ROAD? IT'S A CASE BY CASE BASIS.

IT IS A CASE BY CASE BASIS, AND EVERYTHING IS A CASE BY CASE BASIS WITH OUR BORROWERS WHEN THEY COME IN.

AND WE ARE VERY FLEXIBLE, EVEN WHEN IT CAME DOWN TO WHEN OUR, UH, WHEN WE HAD A MINIMUM OF 25%, UM, AS THE MINIMUM AMOUNT THAT WE WOULD LOAN OUT, WE HAVE EVEN GOTTEN APPROVAL TO DO SMALLER LOANS, YOU KNOW, EVEN BEFORE WE, UH, UPDATED OUR, UM, PLAN.

LAST QUESTION IS, UM, IN SECTION E, UM, UNDER BUSINESS TYPES, YOU HAVE NEW, NEW SLASH STARTUPS, UH, AND KIND OF CLUMPED IN TOGETHER, DEFINED AS A COMPANY THAT HAS, UH, BEEN OPERATING IN LESS THAN SIX MONTHS.

I THINK STARTUPS SHOULD HAVE THEIR OWN DEFINITION, UM, IN, IN THAT A STARTUP, UH, COULD, WELL IN DIFFERENT INDUSTRIES OR DIFFERENT, UH, BUSINESS TYPES, STARTUPS ARE STARTUPS FOR, COULD BE A STARTUP FOR 10 YEARS, RIGHT? MM-HMM .

BECAUSE THEY'RE ALWAYS KIND OF OP, BOOTSTRAPPED AND OPERATING AT A, AT A LOW MARGIN OR, OR, OR WHATEVER THE REASONS ARE.

BUT A NEW COMPANY, I UNDERSTAND THAT PIECE, BUT FOR A STARTUP, IS THERE AN OPPORTUNITY TO EXPAND ON A DEFINITION OF WHAT A STARTUP COULD BE? 'CAUSE YOU HAVE MAYBE TECH COMPANIES COMING IN FOR THIS.

UM, YOU KNOW, THEY'LL CONSIDER THEMSELVES A STARTUP, BUT THEY'VE BEEN AROUND FOR MAYBE A YEAR.

UM, SO WHAT, WHAT ARE YOUR THOUGHTS ON THAT? UM, WE ARE, WE ARE OPEN TO OPENING UP OUR, UH, DEFINITION OF IT.

WE ARE, THAT'S, THAT'S PART OF US BRINGING THE, THE PLAN TO THE COMMISSION TO GET INPUT.

SO IF THAT IS SOMETHING THAT YOU'D LIKE FOR US TO INCLUDE IN THE PLAN, YES.

WE ARE MORE THAN WILLING TO, TO KIND OF PUT THAT IN THERE IF NECESSARY.

IF WE GET CONSENSUS ON IT.

BECAUSE WHEN WE DO HAVE, WE, WE HAVE A LOT OF DIFFERENT COMPANIES JUST TO, JUST AS YOU MENTIONED, THAT COME IN FOR LOANS.

THAT'S WHY WE HAVE NEW VERSUS STARTUP, RIGHT? BECAUSE AS YOU MENTIONED, A BUSINESS MIGHT BE NEW, THEY MAY HAVE BEEN IN BUSINESS FOR A LITTLE WHILE, BUT THEY MAY STILL BE CONSIDERED A STARTUP.

THAT'S WHY WE HAVE IT ON THE SAME LINE, BECAUSE, AGAIN, EACH LOAN BORROWER THAT WE MEET WITH, OR POTENTIAL LOAN BORROWER THAT WE MEET WITH, IT'S ON A CASE BY CASE BASIS.

UH, WE MAY SAY YES TO SOMEONE WHO HAS A LOT OF EQUITY, UM, AND HAS, UH, LITTLE TIME IN THE BUSINESS BECAUSE THEY HAVE THE EQUITY THEN TO HELP IN SUPPORTING AND PAYING BACK THE LOAN.

BUT WE MAY SAY NO TO SOMEONE BECAUSE IT IS, UH, YOU, THEY HAVE A HIGHER RATE OF POTENTIALLY NOT PAYING BACK THE LOAN.

SO THERE HAVE BEEN TIMES WHERE THEY MAY HAVE ALL THE EQUITY, BUT IT MAY NOT BE A GOOD FIT.

AND SO WE REALLY TAKE THE TIME TO MEET WITH THE BUSINESS, TO LOOK OVER ALL OF THE FINANCIALS.

AS YOU'VE SEEN, UH, COMMISSIONER, UH, WE GO THROUGH THAT BEFORE WE, BEFORE WE BRING A LOAN TO THE REVOLVING LOAN FUND SUBCOMMITTEE, WE ARE VETTING THOSE BUSINESS AS WELL, BECAUSE AT THE END OF THE DAY, WE WANNA HELP THEM EITHER GROW THEIR BUSINESS, OPEN THEIR BUSINESS, OR SUSTAIN THEIR BUSINESS.

THANK YOU, COMMISSIONER.

YEAH, I CAN ADD TO THAT AS WELL.

UM, THE STARTUPS ARE CAPPED AT 35,000.

SO LIKE THE AEROSPACE EXAMPLE YOU PROVIDED, THEY MIGHT BE LOOKING FOR MORE THAN 35,000 TO MOVE TO LONG BEACH.

UM, SO THAT'S WHY WE KIND OF CAPPED IT AT THAT SIX MONTH PERIOD, UM, SO THAT THEY COULD BE OPEN TO GETTING MORE FUNDS THAN AT 35,000.

ALL RIGHT.

UH, COLTON, CARLA, THANK YOU GUYS FOR PULLING THIS, UH, ADMIN PLAN TOGETHER.

UM, I JUST HAVE A QUESTION ON SOMETHING THAT YOU SAID, CARLA.

'CAUSE I, UM, I THOUGHT I UNDERSTOOD IT, BUT THEN YOU SAID SOMETHING, SO I JUST WANNA MAKE SURE I'M CLEAR ON IT.

SO, GOING BACK TO PAGE 14, UNDER THE FINANCING NICHE, UM, YOU HAD MENTIONED DURING COVID, WE, THE REVOLVING LOAN COMMITTEE HAD REPOSITIONED SOME OF THE FUNDS AS EMERGENCY LOANS.

BETWEEN 2,500 AND I THINK IT WENT UP TO 10 OR MAYBE 15,000.

10,000.

YES.

UM, BUT IN THIS PLAN, WE ARE RENAMING THOSE EMERGENCY LOANS AS RESILIENCY LOANS.

PLAN THAT WAS FROM 25,000 ALL THE WAY UP TO 10,000.

BUT MY UNDERSTANDING OF THAT IS THAT THE MINIMUM ISN'T 2,500.

THIS LOOKS LIKE A LARGER AMOUNT OF CAPITAL THAT, THAT WE WOULD BE GIVING OUT.

SO I JUST WANNA MAKE SURE I'M CLEAR.

LIKE IT'S NOT THE SAME LOAN THAT WE OFFERED DURING THAT TIME, RIGHT? IT'S NOT, NO.

YES.

THANK YOU FOR ASKING THE CLARIFYING QUESTION.

DURING THE EMERGENCY, DURING THE, THE PANDEMIC, WE HAD MONEY CARES ACT FUNDING MONEY THAT HAD TO GET OUT THE DOOR REALLY QUICKLY.

SO WE HAD A RANGE THAT WENT OUTSIDE OF THE, THE ADMIN

[00:30:01]

BUT I CAN TELL YOU WE DID, WE DID 102 OF THOSE.

AND OF, OF THOSE A HUNDRED WERE $10,000 LOANS AND TWO WERE $5,000 LOANS.

SO WE SAW THAT THE NEED WAS MORE FOR THE $10,000 LOAN.

SO WHAT WE ENDED UP DOING WITH THE RESILIENCY LOANS, WE DIDN'T GO AS LOW AS 2,500.

WE TOOK WHAT OUR ADMIN PLAN HAD AT FIRST AS 25,000, AND WE WOULD JUST WENT DOWN A LITTLE BIT SO THAT WE COULD INCLUDE IT FOR OUR RESILIENCY LOAN.

SO WE DIDN'T, WE WEREN'T GONNA GO ALL THE WAY DOWN AT 2,500.

UM, I JUST HAD ONE QUESTION IS, UM, I WANNA THANK YOU FOR GOING BACK AND, AND IT SOUNDED LIKE YOU WENT AND TOOK A LOOK AT THIS AGAIN BECAUSE THERE WERE MORE ADDITIONS AND UPDATES.

SO THANK YOU TO THE COMMISSIONERS FOR GIVING THAT INPUT AND ALSO THAT EXTRA TIME THAT THE EDA, UM, YOU REQUESTED WITH THEM.

SO I JUST WANTED TO TAG ON TO THE, UM, COMMENT THAT COMMISSIONER SANDOVAL SAID ABOUT NEW STARTUPS.

I THINK THAT, YOU KNOW, BECAUSE YOU'VE HIGHLIGHTED THAT AS AN, AN UPDATE, AND ALSO YOU PUT THE PERCENTAGE FOR NEW STARTUPS IS, YOU KNOW, THE CITY MIGHT WANT TO SEE WAYS THAT THEY CAN ALSO TALK MORE ABOUT HOW THIS IS, UM, A REVOLVING LOAN FUND FOR THE, THIS, THIS SPECIFIC, LIKE, YOU HAVE TO BE IN BUSINESS AT LEAST SIX MONTHS AND APPLY FOR THIS BECAUSE, YOU KNOW, IT COULD DIFFERENTIATE THE CITY FROM OTHER SOURCES.

'CAUSE TYPICALLY NEW STARTUPS DON'T GET LOANS.

RIGHT, EXACTLY.

DO BUSINESS AT LEAST TWO YEARS.

SO, AND I KNOW THAT YOU'VE GOT REALLY A GOOD RATE AS FAR AS PEOPLE PAYING BACK THE LOAN.

SO YOU'VE VET THE BUSINESSES REALLY WELL.

SO, UM, MAY BE SOMETHING THAT IT WOULD BE A PLUS FOR THE CITY TO TALK ABOUT MORE.

UM, AND THEN THE OTHER THING IS, IS, UM, ON THIS PARTICULAR DOCUMENT IS, IS, UH, YOU KNOW, I I UNDERSTAND IT WAS, UH, 10 YEARS PRIOR TO THE, BEFORE THIS WAS UPDATED.

SO IS THIS SOMETHING THAT HAS TO BE UPDATED LIKE ANNUALLY OR EVERY THREE YEARS? OR WHAT DOES THAT LOOK LIKE FOR ALL OF YOU? SO, UH, BASED ON THE ECONOMIC DEVELOPMENT ADMINISTRATION, IT SHOULD BE UPDATED EVERY FIVE YEARS.

SO WE DID OUR DUE DILIGENCE IN THE TIME PERIOD THAT WE HAD TO MAKE SURE THAT IT WAS UPDATED.

AND SO WE WILL ENSURE THAT WITHIN THE NEXT FIVE YEARS, IT'S UPDATED AGAIN.

THAT SOUNDS GREAT.

SO, YOU KNOW, THANKS TO ALL THE PEOPLE ON THE REVOLVING LOAN FUND COMMITTEE, YOU KNOW, CURRENT AND PRIOR PEOPLE WHO HAVE REALLY WORKED, WORKED THIS, SO THAT YOU COULD GET DOWN TO THAT DETAIL, THE EXTRA UPDATES THAT YOU'VE SHARED WITH US.

ANY OTHER QUESTIONS OR COMMENTS? OKAY.

WHY DON'T WE, ANY OTHER PUBLIC COMMENT, IF THERE ARE ANY MEMBERS OF THE PUBLIC THAT WOULD LIKE TO SPEAK ON ITEM NUMBER TWO, PLEASE LINE UP AT THE PODIUM.

SEEING NONE.

WHY DON'T WE CALL FOR A VOTE, ONE SECOND CHAIR.

ACTUALLY, MADAM CHAIR, JUST TO, JUST TO CHIME IN HERE, JUST TO, FOR CLARIFICATION PURPOSES, FOR THE RECORD OF THE MOTION WAS THE, UH, COMMISSIONER SANDOVAL'S WAS, WAS HIS, UH, FRIENDLY, WAS THAT AN ACTUAL FRIENDLY AMENDMENT THAT WAS ACCEPTED? THE, UH, THE CLARIFICATION ABOUT THE EXPANDING THE DEFINITION WAS, WAS THAT A SUGGESTION OR WAS THAT SOMETHING THAT WE, WE, UH, THE COMMISSION WANTS TO INCLUDE? UH, WOULD COUNT IT AS A SUGGESTION.

THANK YOU, COMMISSIONER.

AND THANKS FOR THAT CLARIFICATION.

RECOMMENDATION TO RECEIVE AND FILE PRESENTATION ON THE ECONOMIC EMPOWERMENT ZONES 2.0.

WHY DON'T WE MOVE ON TO AGENDA ITEM NUMBER THREE.

ITEM THREE,

[3. 26-55748 Recommendation to receive and file a presentation on the Economic Empowerment Zones 2.0. Suggested Action: Approve recommendation. ]

CAN I HAVE A MOTION? I HAVE A MOTION FROM COMMISSIONER MATOYA AND A SECOND FROM COMMISSIONER NOVIN.

GOOD AFTERNOON, EVERYONE.

JULIAN, TAKE IT AWAY.

THANK YOU, CHAIR.

UH, SO I WILL BE, UH, PRESENTING ON, UH, OPPORTUNITY ZONES 2.0 HERE.

WHAT WE'LL DO FIRST IS GO OVER JUST AN OVERVIEW OF DETAILS ABOUT THE PROGRAM AND THEN HOW THAT RELATES TO THE CITY OF LONG BEACH AND OUR COORDINATION WITH THE STATE.

AND THEN WHERE WE ARE AT RIGHT NOW.

AND THEN, AND ASK FOR THE COMMISSION

[00:35:01]

AT THE END, UM, ONCE WE, WE RUN THROUGH THE, THROUGH THE PROGRAM AND HAVE A BETTER UNDERSTANDING.

SO WHAT ARE, UH, OPPORTUNITY ZONES? SO, OPPORTUNITY ZONES, UH, YOU KNOW, I THINK TO BEGIN WITH IS TO UNDERSTANDING IS THAT IT IS A FEDERALLY RUN PROGRAM.

UH, THAT WAS SOMETHING THAT WAS PASSED THROUGH, UH, INMATE PERMANENT.

NOW THROUGH THE, THE LATEST, UM, BUDGETARY BILL, UH, ON THE FEDERAL LEVEL.

UM, WHAT IT IS MEANT TO DO IS REALLY, UH, MEANT TO INCENTIVIZE, UM, INVESTMENT, PRIVATE INVESTMENT IN ECONOMIC, ECONOMICALLY DISTRESSED COMMUNITIES.

UH, AND THE WAY IT IS DONE, IT IS, IT, IT HAS WORKED THROUGH, IS THROUGH, THROUGH ON THE CENSUS TRACK LEVEL, RIGHT? SO IT BASICALLY, UH, LOOKS AT, UH, CENSUS TRACK LEVEL DATA SUCH AS POVERTY, UH, HOUSEHOLD INCOME, UH, AND, AND OTHER, UH, DATA POINTS.

UH, WE WILL GO OVER HERE IN A SECOND, UH, TO DE TO, UH, DETERMINE WHETHER, UH, THE CENSUS TRACK CAN BE NOMINATED FOR AN OPPORTUNITY ZONE DESIGNATION.

SO IF IT MEETS, UH, THE CRITERIA, UM, THE NEW INVESTMENT CAN THEN BE, UH, FROM THE PRIVATE SECTOR.

UM, YOU KNOW, AN OPPORTUNITY ZONE MAY BE ELIGIBLE FOR PREFERENTIAL TAX INCENTIVES.

UH, SO WHAT THAT LOOKS LIKE IS REALLY ESSENTIALLY, UM, LOOKING AT THE CAPITAL GAINS OF THAT INVESTMENT.

AND THEN IT IS, UM, UH, UH, THEN, UH, IN A RURAL, UH, SETTING, IT IS SUBTRACT, YOU KNOW, IT IS, UM, IT RECEIVES ESSENTIALLY A CREDIT OF LIKE 30 A 30%, UH, UH, NON-TAXABLE, UH, CAPITAL GAINS TAX.

SO, UH, I'LL GO OVER INTO A QUICK EXAMPLE HERE IN A SECOND.

BUT IN THE, UH, MORE URBAN SETTING, WE ONLY GET A 10% WRITE OFF.

SO ANY, SO THERE IS THIS, UM, SOMETHING TO MAKE CLEAR ABOUT THIS PROGRAM.

IT, IT DOES HEAVILY INCENTIVIZE MORE RURAL, UH, INCENTIVES, UH, AND, AND CAPITAL INVESTMENT.

BUT NONETHELESS, YOU KNOW, IT'S SOMETHING, WE'VE LOOKED AT IT AS A TOOL THAT WE'D RATHER HAVE IN A TOOLBOX, UH, IN THE EVENT THAT IT, WE CAN LEVERAGE IT THROUGH PRIVATE INVESTMENT THAN NOT HAVE IT AT ALL.

SO, UH, THAT WAS ESSENTIALLY, UH, OUR APPROACH.

AND THE END RESULT HERE REALLY IS THAT IT COULD BE A POWERFUL TOOL FOR DRIVING PRIVATE INVESTMENT INTO UNDERSERVED COMMUNITIES.

SO, YOU KNOW, WHAT TYPES OF PROJECTS CAN OPPORTUNITY ZONES FINANCE, UM, REALLY THEY'RE SUPPOSED TO, UH, ANY KIND OF, UH, PRIVATE SECTOR, UM, PROJECTS.

IT CAN FINANCE.

IT INCLUDES COMMERCIAL, INDUSTRIAL, REAL ESTATE, HOUSING INFRASTRUCTURE.

AND THIS IS BOTH ON EXISTING, UH, AND STARTUP BUSINESSES.

SO, FOR REAL ESTATE PROJECTS, WHICH, UH, FROM THE OPPORTUNITY ZONE 1.0, WHAT WE'VE SEEN IS A LOT OF HOUSING PROJECTS.

UH, WHAT IT DOES IS IT, UH, IT CAN COUNT BRAND NEW DEVELOPMENT OR ALSO DEVELOPMENT THAT, UH, IS EXISTING, BUT THEN, UH, RECEIVES ENOUGH, UM, INVESTMENT TO WHERE IT IS SUBSTANTIALLY IMPROVED.

AND I BELIEVE THE DEFINITION FOR SUBSTANTIALLY IMPROVED IS LIKE ONE AND A HALF TIMES, UM, THE INITIAL VALUE THAT IT WAS ASSESSED AT.

SO THEN IT WOULD COUNT UNDER THE OPPORTUNITY ZONE HERE.

AND AGAIN, THIS IS A FAIRLY NEW PROGRAM, BUT, UH, THE, UM, FROM THE INITIAL FINDINGS, RIGHT? AND, UH, CONGRESS DID DECIDE TO MAKE IT PERMANENT.

UM, SO NOW, UH, LOCAL JURISDICTIONS THROUGHOUT THE COUNTRY, REALLY JUST LIKE UNDERSTANDING THE PROGRAM.

THERE'S, BECAUSE THERE'S A NEW PROGRAM, THERE'S, YOU KNOW, JUST SOME QUESTIONS THAT I THINK WILL BE IRONED OUT AS WE GO THROUGH THE, THROUGH THE DECADE LONG PROCESS THAT THESE, UH, CENSUS TRACKS RECEIVE THAT DESIGNATION FOR.

UH, BUT OBVIOUSLY HAPPY TO KEEP, UM, THE COMMISSION UPDATED ON, ON THE PROGRAM AS IT EVOLVES AND, AND HOPEFULLY HOW WE'RE ABLE TO SEE IT LEVERAGED HERE IN LONG BEACH.

SO WHAT ENTITIES ARE CONSIDERED INVESTORS IN THE PROGRAM? IT'S REALLY ANY CORPORATION, AN INDIVIDUAL WITH REALIZED CAPITAL GAINS, UH, MAY BE ELIGIBLE TO INVEST IN OPPORTUNITY ZONES.

ELIGIBLE CAPITAL MUST BE PROVIDED AS AN EQUITY INVESTMENT, YOU KNOW, NOT DEBT, ALTHOUGH IT CAN BE PART OF THE PACKAGE.

UH, AND THEN THE LAST PIECE IS IT MUST BE, UH, MADE USING, RECENTLY REALIZED CAPITAL GAINS TO QUALIFY FOR THE ASSOCIATED TAX INCENTIVE.

SO THE PURPOSE IS REALLY TO, UH, HAVE PRIVATE CAPITAL INFUSED INTO THAT CENSUS TRACK.

'CAUSE AGAIN, WE'RE LOOKING AT CENSUS TRACKS THAT MEET, UH, YOU KNOW, HIGH POVERTY RATES, HIGH UNEMPLOYMENT RATES, LOW HOUSEHOLD INCOMES, UH, TO SPUR ECONOMIC, UH, ACTIVITY IN THAT AREA, IN THAT COMMUNITY.

SO, YOU KNOW, I MENTIONED THE, THE 1.0, UH, PROGRAM, ESSENTIALLY SPEAKING, WAS THE PILOT RIGHT NOW.

THE GOVERNMENT, UH, KIND OF TOOK THE LESSONS LEARNED AND WHAT ACTUALLY INVESTMENTS OCCURRED.

THEY SEND UP A 2.0 VERSION, WHICH THIS IS A MORE PERMANENT VERSION NOW.

UH, AND THE, THE BIG DIFFERENCE IS THAT THEY TIMED UP THE ELIGIBILITY REQUIREMENTS ON THE CENSUS TRACK.

SO THERE WERE THOUSANDS OF, UM, A COUPLE THOUSAND MORE ELIGIBLE TRACKS THAN THE 1.0 VERSION.

SO NOW THEY, THE ELIGIBILITY TI UH, WAS, WAS REALLY, UM, TIED.

SO NOW THERE'S SIGNIFICANTLY LESS CENSUS TRACKS, UH, AVAILABLE, UM, FOR NOMINATION INTO THE PROGRAM.

SO HERE, THE OPPORTUNITY ZONE 2.0 REFERS TO THE PERMANENT RENEWAL AND ENHANCEMENT OF THE OPPORTUNITY ZONES PROGRAM.

THIS IS ENACTED THROUGH PUBLIC LAW, AS I'VE MENTIONED, ON THE FEDERAL LEVEL.

AND UNDER THE, UH, UNDER THIS LAW, THE PROGRAM, UH, HAS SET TO EXPIRE DECEMBER 31ST, 2026.

THAT WAS THE, THE 1.0 I BELIEVE.

AND THEN, UM,

[00:40:01]

THE FEDERAL STATUTE MAKES A PERMANENT FEATURE OF THE INTERNAL, UH, REVENUE CODE WHILE UPDATING ELIGIBILITY CRITERIA, TAX INCENTIVES, AND THEN COMPLIANCE REQUIREMENTS.

HERE'S KIND OF MORE, I THINK, THE IMPORTANT PIECE OF KIND OF WHAT IT STARTS TO LOOK LIKE HERE, UH, IN THE CITY.

SO OUT OF ALL OF THESE STATES ELIGIBLE CENSUS TRACKS, UH, THE GOVERNOR IS ONLY, UM, PERMITTED TO, UH, RECOMMEND 25% OF THOSE CENSUS TRACKS, RIGHT? SO THE, THE STATE REALLY IS FACED WITH A DIFFICULT DECISION, UH, ON WHICH TRACKS TO SUBMIT INTO THE PROGRAM AND WHICH NOT, RIGHT? AND THEN ALSO JUST UNDERSTANDING THAT A LOT OF OUR TRACKS THAT MAY BE ELIGIBLE ARE IN URBAN DENSE AREAS, WHILE KNOWING THAT THE PROGRAM REALLY IS FOCUSED TO INCENTIVIZE RURAL AREAS.

SO, YOU KNOW, I, UM, I DO NOT ENVY THE STAFF AND TEAM THAT IS REVIEWING, YOU KNOW, SUBMITTALS BY JURISDICTIONS AND, AND SPECIAL, UH, JURISDICTIONS THROUGHOUT THE STATE TO DETERMINE WHICH OF THESE TRACKS, UM, WILL BE SUBMITTED ULTIMATELY.

AND THIS IS KIND OF WHY, UH, YOU'LL SEE AT THE END, THERE IS A REQUEST BY OUR TEAM TO REALLY HAVE YOUR SUPPORT ON THE TRACKS THAT HAVE, UM, MADE THAT REVIEW BY THE STATE THAT ARE IN, IN THE CITY OF LONG BEACH.

SO AGAIN, THERE'S A 25% ONLY ELIGIBLE, UH, THAT THE STATE THAT THE GOVERNOR CAN SEND FORWARD FOR NOMINATION, UM, PROGRAM FAVORS, RURAL AREAS, AS MENTIONED.

AND THEN, AS I MENTIONED EARLIER HERE, IT'S JUST A MATTER OF TIGHTENING ON THE 2.0 PROGRAM.

SO INCOME JUST CANNOT EXCEED 70% OF THE APPLICABLE MEDIUM INCOME, OR THE POVERTY RATE HAS TO BE AT LEAST 20%.

AND INCOME DOES NOT EXCEED 125% OF THE APPLICABLE MEDIUM FAMILY INCOME.

SO HERE'S THE OPPORTUNITY ZONE IN THE STATE OF CALIFORNIA.

SO THE STATE OF, UH, CALIFORNIA INITIATED A LOCAL ENGAGEMENT PROCESS FOR RECOMMENDING OPPORTUNITY ZONE 2.0, CENSUS TRACK DESIGNATIONS.

THE PROCESS OCCURRED THROUGH THE LOCAL AUTHORITY RECOMMENDATION FORM, UH, THAT, THAT IS THE FORM THAT WE USE AS STAFF TO, UH, SUBMIT, OFFICIALLY SUBMIT OUR CENSUS TRACKS FOR, UH, OFFICIAL REVIEW AND, AND INCLUSION INTO THE PROGRAM.

SO IT REQUESTED THAT CITIES DEMONSTRATE HOW THE RECOMMENDED CENSUS TRACKS INCLUDED PROJECTS OR ACTIVITIES ALIGNED WITH REGIONAL AND STATEWIDE ECONOMIC DEVELOPMENT PRIORITIES.

SO, JUST LIKE WE HAVE OUR BLUEPRINT, THEY, THE STATE ALSO HAS A BLUEPRINT.

SO WE ARE, YOU KNOW, MAKING THE CASE THAT OUR CENSUS TRACKS, UH, WERE IN ALIGNMENT WITH THAT OF THE, YOU KNOW, THE STATEWIDE BLUEPRINT, PARTICULARLY AROUND THE INDUSTRY VERTICALS THAT THEY, UH, ELEVATE.

AND THEN, UH, THE NEXT STEP IS A LOCAL ENGAGEMENT PROCESS.

UH, SORRY, THE LOCAL ENGAGEMENT PROCESS, UH, STARTED JUNE 15TH AND LASTED THROUGH, UH, JULY 20TH, 2026.

SO AT THAT POINT, THAT'S WHEN WE SUBMITTED IT.

AND THEN, UM, THE PUBLIC COMMENT PERIOD, UH, JUST OPENED YET A COUPLE DAYS AGO, AND IT WILL RUN THROUGH AUGUST 28TH.

AND I'LL GO A LITTLE BIT MORE INTO THAT PIECE HERE IN A SECOND.

SO HERE'S JUST, UM, WANTED TO SHARE SOME OF THE WORK THAT WE, WE'VE DONE, UH, TO SUBMIT THE, THE CENSUS TRACK.

SO OUT OF ALL THE CENSUS TRACKS IN THE CITY OF LONG BEACH, WE HAD A TOTAL OF 44 THAT, UH, WERE DEEMED ELIGIBLE FOR INCLUSION INTO THE OPPORTUNITY ZONE 2.0 PROGRAM.

UH, OF THOSE 44, WE LOOKED AT, UM, WE NOMINATED A TOTAL OF 14, UM, TRACKS TO BE SUBMITTED FOR THE STATE FOR CONSIDERATION.

SO THEN THE, WE AS A TEAM REALLY EVALUATED EACH OF THE CENSUS TRACKS, OR EACH OF THOSE 44 BASED ON THE STATE'S EVALUATION OF PRIORITIES.

AND THEN, UM, ALSO BASED IN PART ON A-L-A-E-D-C, OUR, UM, COMIC CORPORATION HERE, UH, WERE ALSO VERY HELPFUL IN HELPING US UNDERSTAND, UM, WHICH, WHICH OF THESE CENSUS TRACKS HAD AN ADVANTAGE, UH, FROM LOOKING AT THE STATE LEVEL.

UH, AND THEN ALSO SOME, UM, SOME, UH, COUPLE OF, UH, UH, URBAN INSTITUTE AS WELL.

UM, ANALYSIS WERE TAKEN INTO ACCOUNT.

BUT AGAIN, WE LOOKED AT POVERTY RATES, MEDIUM FAMILY INCOME, THE RENTER OCCUPANCY AND RENTER BURDEN LEVEL WAS VERY IMPORTANT.

UH, THE ALIGNMENT TO THE HOUSEHOLD, UH, SORRY, ALIGNMENT, HOUSEHOLD CROWDING, APOLOGIES, UH, UNEMPLOYMENT RATE, STATEWIDE GEOGRAPHIC EQUITY, AND THEN THE STATEWIDE REGIONAL AND ECONOMIC DEVELOPMENT OBJECTIVES.

UM, GOING BACK TO THE RENTER OCCUPANCY, UM, MAKING SURE THAT IT WAS ALIGNED WITH THE, UH, LAND USE ELEMENT WAS ALSO VERY IMPORTANT.

SO, YOU KNOW, WE'RE LOOKING ABOUT HERE ABOUT INCREASING DENSITY, FOR EXAMPLE, IS SOMETHING THAT THE STATE IS, IS LOOKING FOR, UH, IN THESE CENSUS TRACKS.

SO THEN WE TOOK THAT, THE STATE'S PRIORITIES INTO ACCOUNT, AND THEN ALSO OUR LOCAL PRIORITIES AND INVESTMENTS, RIGHT? SO WE LOOKED AT TRACKS THAT AT LEAST IN PART, HAD, UH, AN, UH, AN EXISTING BUSINESS IMPROVEMENT DISTRICT, OR WERE, WERE PLANNING OR EXPLORING THE CREATION OF A BUSINESS, UH, IMPROVEMENT DISTRICT.

UM, ALSO, UM, THE STATE DID, UM, TAKE INTO ACCOUNT IF THE CITY AND THOSE AS TRACKS INCLUDED OR WERE IN PLAN TO, UH, INCLUDE AN EIFD, WHICH YOU MAY RECALL A FEW MONTHS AGO, GOT A PRESENTATION ON THAT FROM COSMO, THE CONSULTANTS, RIGHT? SO THE STATE REALLY IS JUST LOOKING, AND THE FEDERAL GOVERNMENT'S LOOKING TO, TO SEE LIKE, OKAY, THERE'S MOMENTUM IN THIS CENSUS TRACK THAT'S, THERE'S AN ALREADY IN, YOU KNOW, AN INVESTMENT FROM THE PUBLIC SECTOR, MAYBE OTHER AGENCIES, AND THEY WANT TO JUST, YOU KNOW, IT WOULD BE HELPFUL TO INCLUDE THIS, UH, AS AN OPPORTUNITY ZONE PROGRAM TO KIND OF KEEP THAT MOMENTUM GOING AND THAT INVESTMENT GOING.

SO IT'S KIND OF LIKE A TELLING A NARRATIVE OF THERE

[00:45:01]

IS AN, THERE'S ALREADY INVESTMENT IN THIS, IN THIS CENSUS TRACK AND THIS COMMUNITY AND THE INCLUSION OF OZ OPPORTUNITY ZONE INTO IT WILL FURTHER HELP PUSH THAT NARRATIVE OF ADDITIONAL, UH, CAPITAL INVESTMENT INTO IT.

UM, SO WE OF COURSE LEAN INTO OUR ELEVATE 28.

SO WE, UH, REALLY FOCUS ON COMMUNICATING THE INVESTMENT, THE PUBLIC WORKS INVESTMENT THAT THE CITY IS DOING, ROADS IMPROVEMENT, RIGHT? PARK IMPROVEMENTS, PLAYGROUND IMPROVEMENTS, UM, INFRAS, JUST GENERAL INFRASTRUCTURE IMPROVEMENT, HIGHLIGHTING THAT PIECE, UM, SHOWING THAT THERE'S ALREADY SUPPORT, FOR EXAMPLE, THROUGH, UH, BIDS THAT THERE'S, YOU KNOW, AND THE CITY'S COMING TO PROVIDE ONE TIMES, BUT THEN ALSO FROM THE BUSINESS, UM, THE BUSINESS COMMUNITY, YOU KNOW, THAT, THAT ALREADY ORGANIZED.

THEY'RE ALREADY ALSO, YOU KNOW, FOCUSED ON SAFETY, FOCUSING ON ADDRESSING CHALLENGES, AND THEN BEAUTIFICATION ACTIVATION, RIGHT? SO TELLING THAT NARRATIVE WAS VERY IMPORTANT.

ANY PRIVATE SECTOR INVESTMENTS AS WELL, WE TRIED VERY HARD TO HIGHLIGHT, UH, YOU KNOW, ANY, UM, EXPANSIONS OR BUSINESS MOVES FROM OTHER CITIES INTO OR NEAR THOSE CENSUS TRACKS, PARTICULARLY AROUND, UM, YOU KNOW, SPACE AVIATION, UH, RESEARCH AND DEVELOPMENT.

THAT WAS BECAUSE, UH, THAT DOES ALIGN WITH THE STATE, UH, INDUSTRY.

SO REALLY TELLING THAT STORY.

AND THEN OF COURSE, THE HOUSING ELEMENT ALIGNMENT WAS ALSO, UH, IMPORTANT TO TAKE INTO ACCOUNT.

SO WE REALLY TOOK THE STATES AND THEN THE, YOU KNOW, OUR LOCAL ACTIONS THAT WE WERE DOING HERE OVERLAPPED THOSE TO SEE WHICH, WHICH CENSUS TRUST WE BELIEVE HAD THE HIGHEST LIKELIHOOD OF SUCCESSFUL REVIEW UNDER THE STATE.

AND THEN, THEN HOPEFULLY MAKE IT INTO THE OPPORTUNITY ZONE.

AND, YOU KNOW, UM, OTHER CITIES AND JURISDICTIONS WERE ALSO DOING THE SAME.

SO, YOU KNOW, WE, UM, GAVE IT A, JUST KNOW THAT WE SPENT A, A LOT OF TIME DOING THIS ANALYSIS AND, UM, ARE LOOKING FORWARD TO SEEING THE RESULTS HERE AT THE END.

SO HERE IS, UH, AN OVERVIEW REALLY OF JUST KIND OF TAKING OVER, UH, WHAT I, UH, JUST WALKED THROUGH EARLIER.

SO, 14 OF THE 14 TRACKS ALIGNED WITH THE CALIFORNIA JOBS FIRST BLUEPRINT THAT I MENTIONED EARLIER, SO THAT, YOU KNOW, THE GOAL IS THE SAME AS OURS, REALLY IS DRIVING INVESTMENT TO THE KEY SECTORS, SUSTAIN ECONOMIC GROWTH, INNOVATION, AND ACCESS TO GOOD PAYING JOBS.

14 OUTTA THE 14 TRACKS ALIGN WITH THE AFFORDABLE HOUSING OR LUE OPPORTUNITIES.

THIS INCLUDED THE CAL STATE LONG BEACH TRACT, UH, BECAUSE STUDENT HOUSING MAY, UNDER CERTAIN CONDITIONS COUNT TOWARDS THE AFFORDABLE HOUSING REQUIREMENT FOR CITIES.

UH, SEVEN OF THE 14 TRACKS THAT WE SUBMITTED INCLUDED AREAS WITH EXISTING BIDS OR AREAS WHERE BID CREATION IS CURRENTLY BEING EXPLORED.

UM, SIX OF THE 14 INCLUDED PROPOSED EIFD AREAS, AND THEN FOUR OF THE 14 TWO, UH, IN NORTH LONG BEACH, ONE IN MAGNOLIA, AND THEN ONE IN WEST LONG BEACH INCLUDED LARGE INDUSTRIAL ZONE AREAS.

YOU KNOW, RIGHT NOW WHERE WE'RE SEEING A LOT OF INTEREST AND INVESTMENT, UH, THROUGHOUT THE CITY.

HERE IS JUST A SUMMARY FOR, FOR YOU GUYS ON A TABLE.

UH, AND WITH ADDITIONAL INFORMATION, YOU KNOW, UH, COLUMN TWO REALLY IS THE MEDIAN FAMILY INCOME THAT I MENTIONED EARLIER, POVERTY RATE, CALIFORNIA JASPER ALIGNMENT, AFFORDABLE HOUSING SLASH L LUE, PROPOSED LLD.

JUST WANTED TO PROVIDE YOU WITH A QUICK SUMMARY TABLE THERE FOR REFERENCE IF, UM, YOU GUYS WANTED TO TAKE A LOOK AT THAT.

AND THEN, I KNOW YOU GUYS PROBABLY HAVE NOT MEMORIZED THE AREAS OF THE CITY BY CENSUS TRACK NUMBER.

SO, UH, HERE IN THE, UH, NEXT SLIDE IS, UH, JUST A VISUAL FOR YOU ON WHERE THOSE CENSUS TRACKS ARE.

SO I'LL JUST SPEND A COUPLE MINUTES JUST, UH, PROVIDING A LITTLE BIT OF KIND OF WHAT THIS MAP IS, UM, SHOWING US, AND APOLOGIES FOR INCLUDING A AGENDA.

WE'LL INCLUDE THAT IN THE, IN A, IN A UPDATED, UM, MAP FOR YOU.

SO THIS WAS TAKEN FROM THE L-A-E-D-C RESEARCH AND, UM, OBVIOUSLY THE DELINEATION OF THE DOTTED BLUE LINES IS THAT OF THE CITY OF LONG BEACH.

ANY CENSUS TRACK THAT IS GREEN, UH, OR PURPLE IS ONE OF THOSE 44 CENSUS TRACKS THAT QUALIFIED FOR POTENTIAL INCLUSION INTO THE ECONOMIC OPPORTUNITY ZONES 2.0 PROGRAM.

SO THE PURPLE TRACKS WERE THEN, UH, WERE, UM, HAD A, THROUGH THE, UM, URBAN INSTITUTE IN LA WERE THEN SEEN AS HAVING AN ADVANTAGE OF, UH, INCLUSION INTO THE OZ TWO PROGRAM BECAUSE THEY HAD HIGHER POVERTY RATES, LOWER HOUSEHOLD INCOME, SO THEY TOOK THAT PIECE INTO ACCOUNT.

UH, AND THEN THE ONES THAT HAVE THE RED PARAMETERS AROUND THOSE, THOSE ARE THE 14 CENSUS TRACKS THAT, UM, THAT WE, UH, AS A TEAM KIND OF DECIDED WERE, HAD THE BEST OPPORTUNITY TO, UM, MEET THE REQUIREMENTS OF THE STATE FOR, UM, INCLUSION INTO THE, THE PROGRAM ON THE FEDERAL LEVEL.

SO YOU CAN SEE HERE, RIGHT? UM, WE INCLUDED, UH, THE TWO ON THE WEST SIDE, UM, BECAUSE OF THE WEST SIDE PROMISE, RIGHT? OUR INVESTMENTS AND OUR ATTENTION TO, TO THAT ALSO CENTRAL AND DOWNTOWN LONG BEACH.

YOU KNOW, WERE, UM, WERE NOMINATED, UH, PRETTY HEAVILY.

AND THEN THAT INCLUDES THE MAGNOLIA, UH, INDUSTRIAL DISTRICT, UH, LIKE I MENTIONED EARLIER.

UH, AND THEN YOU HAVE ON THE FAR RIGHT, THAT BIG SQUARE ONE THAT IS CAL STATE LONG BEACH.

UH, YOU KNOW, SO WE OBVIOUSLY WORK WITH OUR CITY PARTNERS HERE AS WELL, YOU KNOW, OTHER DEPARTMENTS AND CAL

[00:50:01]

STATE LONG BEACH TO JUST KIND OF TRY TO DETERMINE, YOU KNOW, IF THERE WAS, UM, PUBLIC SUPPORT FOR IN GENERAL, RIGHT? AND THEN LUCKILY FOUND THAT TO BE TRUE.

AND THEN THE TWO FARTHEST NORTH, UH, CENSUS TRACKS IN NORTH LONG BEACH, THOSE ARE ESSENTIALLY HORIZON, UH, SPLIT EAST TO WEST.

UH, EACH OF THOSE ARE, THE NORTHERN HALF IS VERY MUCH AN INDUSTRIAL AREA.

AND THEN THE SOUTHERN HALF IS, UH, MIXED USE OF COMMERCIAL AND THEN ALSO RESIDENTIAL.

AND AGAIN, ALL OF THOSE AREAS DO HAVE, UM, YOU KNOW, ACCOUNT FOR THE HIGHER DENSITY, UM, DEVELOPMENT, YOU KNOW, FOR HOUSING.

SO THAT WAS, AGAIN, SOMETHING THAT IS A HIGH PRIORITY FOR THE STATE THERE.

SO KIND OF STARTING TO WRAP UP, UM, HOPEFULLY, AND I'M HAPPY TO HAVE YOU OF COURSE, ANSWER ANY QUESTIONS.

UM, BUT THE ASK WOULD BE THAT, UH, STAFF, UH, WORK WITH THE CHAIR AND VICE CHAIR THAT THE COMMISSION ALLOW THE, THE, UH, STAFF TO WORK WITH THE CHAIR AND VICE CHAIR TO PROVIDE A LETTER OF SUPPORT.

SO RIGHT NOW, AS MENTIONED, THERE'S THE PUBLIC, UH, COMMENT PERIOD THAT IS OPEN THROUGH AUGUST 28TH.

UM, I WOULD BE, UH, MY HOPE THAT, THAT THE COMMISSION APPROVES A MOTION THAT INCLUDES THE ABILITY FOR STAFF TO WORK WITH THE CHAIR AND VICE CHAIR TO CRAFT A LETTER OF SUPPORT SO THAT IT HAS, YOU KNOW, UH, INTO INCLUSION OF THE CENSUS TRACKS THAT DO GET APPROVED SO THAT IT HAS KIND OF THAT ADDITIONAL WEIGHT THAT THE COMMISSION RIGHT, IN ITS OFFICIAL CAPACITY ALSO ENDORSES THE INCLUSION OF THE CENSUS TRACKS, UH, INTO, UM, INTO THE OPPORTUNITY ZONE.

UM, YESTERDAY THE STATE DID RELEASE THE, UM, THE TRACKS THAT THEY'RE CONSIDERING TO, TO PROVIDE TO THE FEDERAL GOVERNMENT.

I DIDN'T HAVE A TIME TO INCLUDE IT IN HERE, AND I ALSO JUST WANT TO TRIPLE CHECK THAT, YOU KNOW, WHAT I SEE IS, IS TRUE.

AND, AND I CAN KIND OF JUST, UH, COMPARE THAT TO, TO OUR PERSONAL NOTES.

BUT I BELIEVE, UH, FOUR OR FIVE OF THE CENSUS TRACKS OF THE 14 THAT WE, UH, PROVIDED ARE, UM, WERE APPROVED FOR NOMINATION.

UH, SO THAT'S ABOUT 40 TO 50% OF THE ONES THAT, THAT WE PUT FORTH, WHICH I KNOW IT DOESN'T SOUND, UH, LIKE A LOT, BUT GIVEN THE, THE, THE FACT THAT THE GOVERNOR COULD ONLY APPROVE 25% OF THE STATE OF THE STATES, YOU KNOW, WE'RE REALLY, UH, PUNCHED ABOVE OUR WEIGHT THERE, YOU KNOW, UH, A GOOD BIT.

SO WE PROBABLY, IF EVERYTHING, YOU KNOW, GOES AS ACCORDING TO WHAT IT'S LOOKING LIKE, THEN, YOU KNOW, WE COULD SEE AN ADDITIONAL LIKE, YOU KNOW, ONE TO TWO CENSUS TRACKS INTO THE INCLUSION MORE THAN WHAT, YOU KNOW, THE AVERAGE WOULD SEEM.

SO THAT WAS, UH, REALLY PROMISING.

I WILL CONFIRM THAT, UM, WHEN I HAVE A LITTLE BIT MORE TIME TO SPEND WITH THE INFORMATION.

BUT AGAIN, I THINK IT WOULD BE VERY HELPFUL IF, UM, YOU ALL ARE OPEN TO IT TO PROVIDE A LETTER OF SUPPORT, UH, FOR THIS PROGRAM AND THE CENSUS TRACKS THAT WERE ABLE TO MAKE IT INTO THE PROGRAM.

SO WITH THAT BEING SAID, THAT UM, CONCLUDES MY PRESENTATION AND HAPPY TO ANSWER ANY QUESTIONS, UH, ABOUT THE PROGRAM AND PRESENTATION.

SO FOR COMMISSIONERS, DO YOU HAVE ANY QUESTIONS? OKAY, WE'LL START AT THIS END.

COMMISSIONER SMITH.

OH, I THOUGHT YOU OKAY, COMMISSIONER NOVIN, THANKS SO MUCH FOR THE PRESENTATION.

UM, IT SEEMS LIKE THERE'S KIND OF TWO PROCESSES HERE, GETTING THE TRACKS KIND OF PRE-QUALIFIED FOR THE PROCESS AND THEN STARTING TO TRACK THE CAPITAL INTO IT.

'CAUSE NOW THEY'RE GONNA HAVE A LIST OF THESE CENSUS TRACKS AND SOMEONE IN TEXAS MIGHT CHOOSE A PROJECT IN OKLAHOMA, AND WE'LL PROBABLY GET MORE LOCALIZED INVESTMENT, IS WHAT I'M GUESSING HERE.

UM, YOU CAN ANSWER LATER.

'CAUSE I KNOW YOU'RE CHECKING IT.

I'M HOPING THAT THE CAL STATE LONG BEACH ONE IS ONE OF THE VETTED ONES.

'CAUSE I THINK THAT'LL BE REALLY INTERESTING.

YOU'LL HAVE THIS ALUMNI PHILANTHROPIST BASE THAT'S LOOKING FOR A WAY TO DEPLOY THEIR CAPITAL GAINS, AND IT'LL BE A REALLY NICE WAY TO MAYBE PARTNER WITH THE UNIVERSITY TO GET YOU GUYS MORE ARMS AND LEGS TO MAKE THAT COMMITMENT.

AND THEN YOU CAN ALSO USE THAT TO KIND OF SHARE THE OTHER TRACKS IN THE CITY.

UM, SO I'D BE CURIOUS FOR A FUTURE MEETING, MAYBE TALKING ABOUT THE PLAN TO GET PEOPLE TO BRING THAT CAPITAL TO THESE CENSUS TRACKS, RIGHT? AND HOW CAN WE HELP? UM, THEY'LL PROBABLY BE LOOKING FOR CITIES THAT ARE JUST EASIER TO WORK WITH ALL THE STUFF WE'RE DOING IN ECONOMIC DEVELOPMENT, RIGHT? UM, SO HAPPY TO HELP ON THAT.

BUT GREAT WORK SO FAR AND I'M EXCITED TO SEE WHAT TRACKS WERE SELECTED.

YEAH, NO, WE DEFINITELY WORKED, UH, WITH CAL STATE LONG BEACH ON THAT ONE, AND THEY TOOK THE LEAD IN PROVIDING THAT, UH, RECOMMENDATION FORM.

ALTHOUGH THE OFFIC, THE CITY AND IN OUR CAPACITY, WERE THE ONLY JURISDICTION THAT'S ALLOWED TO SUBMIT THEM.

BUT WE WORK WITH THEM AND I THINK THEY PROVIDE A REALLY GOOD NARRATIVE, BASICALLY ON THE INVESTMENTS THAT THEY ALREADY WERE PLANNING ARE ALREADY WELL UNDERWAY.

AND THEN THE TIE TO, UH, RESEARCH AND DEVELOPMENT, OF COURSE, RIGHT? ENGINEERING, AND THEN THAT KIND, THOSE KINDS OF JOBS THAT THE STATE IS LOOKING TO PRI PRIORITIZE.

SO I THINK, YOU KNOW, WE DID A REALLY GOOD JOB J THERE.

AND THEN JUST ONE ADDITIONAL NOTE, UM, WE ARE HOPING, UH, WE'RE LOOKING TO ALSO, UH, REACH OUT TO OUR BUSINESS IMPROVEMENT DISTRICT TO SEE IF THEY ALSO WOULD BE OPEN TO PROVIDING A LETTER OF SUPPORT, UH, IF THAT THOSE SENSE AND TRACK CORRESPOND, UH, WITH THEM.

SORRY, I FORGOT LEFT THAT NOTE OUT.

COMMISSIONER MATOYER AND THEN COMMISSIONER HAKI.

YEAH.

UH, JULIAN, THANKS FOR THE PRESENTATION.

I HAVE TWO QUESTIONS FOR YOU.

[00:55:01]

UM, MY UNDERSTANDING IS THAT, UH, 1.0, RIGHT, FOR THE, THE OPPORTUNITY ZONES, THAT WAS I THINK 2016 TO 2025, WHAT DO, DO WE HAVE ANY INFORMATION ON WHAT INVESTMENTS OCCURRED IN THE CITY OF LONG BEACH IN THOSE ZONES THAT WERE ESTABLISHED? LIKE HOW, HOW SUCCESSFUL WERE THESE THINGS AND ACTUALLY ATTRACTING THE INVESTMENT THAT I THINK PEOPLE THOUGHT THEY WOULD.

AND THEN THE SECOND QUESTION, UH, IS IF THE ELIGIBLE LOCATIONS ARE ACCEPTED, AND IT SOUNDS LIKE YOU, YOU TALKED ABOUT A LITTLE BIT, BUT WHAT ARE SOME OF THE ANTICIPATED LIKE, HURDLES THAT WE THINK WOULD DISSUADE PEOPLE FROM WANTING TO INVEST IN THE AREA AREAS LIKE US VERSUS GOING TO IDAHO AND DECIDING TO PUT THEIR CAPITAL THERE, RIGHT? LIKE, YEAH.

SO FOR THE, THE PART ONE QUESTION, UM, THERE, I DON'T HAVE RIGHT NOW ANY LIKE, UM, LIKE MICRO DATA ON WHAT THE CENSUS, WHICH CENSUS TRACKS WERE FROM THE 1.0.

WHAT I WILL TELL YOU IS FROM, UH, I DO HA I DO KNOW INFORMATION FROM A NATIONWIDE RESULTS.

UM, AND WHAT WE SAW, BECAUSE OF THE WAY THAT THE LAW IS WRITTEN, THE PROGRAM IS, IS WRITTEN, WE SAW A LOT OF THE INVESTMENT GO IN, IN RURAL, UH, IN THE RURAL PARTS OF THE COUNTRY.

SO YOU DID SEE, UH, WHICH IS, YOU KNOW, INTERESTING IF YOU ARE INTO HOUSING, UM, HOUSING STOCK IS YOU SAW A LOT OF INVESTMENT GOING IN, IN RURAL COMMUNITIES, UM, BECAUSE OF THAT 30% DISCOUNT, RIGHT? SO THAT IT'S A HUGE INCENTIVE, UH, FOR PEOPLE TO UNLOCK CAPITAL AND DRIVE IT IN THOSE CENSUS TRACKS.

AND, YOU KNOW, AND SO I THINK A NATURAL DISADVANTAGE IS THAT THEY'RE AT 30%, WE'RE AT 10%.

UM, BUT, YOU KNOW, OBVIOUSLY WE HAVE POPULATION DENSITY AND, AND EVERYTHING LIKE THAT.

I THINK, UM, IT'S JUST, YOU KNOW, THE, SOME OF THE STATEWIDE NARRATIVE THAT WE HAVE TO MAKE SURE THAT WE CLEAR AND, AND AS YOU KNOW, CITY STAFF AND PARTNERS THAT WE'RE HERE TO, UH, EXPLAIN AND WALK PEOPLE THROUGH.

BUT I WOULD SAY IT'S REALLY MORE OF THE CHALLENGES THAT ARE EXISTING ON A STATEWIDE LEVEL, LIKE REGULATORY PROCESSES, PERMITTING PROCESSES, THINGS OF THAT NATURE, WHICH I THINK ARE MORE OF A CONCERN ON AN INVESTMENT FROM AN INVESTMENT PERSPECTIVE AS OPPOSED TO LIKE THIS PROGRAM.

UM, ONE CHALLENGE I THINK WILL BE THAT, AND, YOU KNOW, IT'S, THIS HAPPENS AS YOU WRITE POLICY.

UM, SO IT TALKS ABOUT COMMUNITIES, RIGHT? AND COMMUNITIES ARE NOT REALLY DELINEATED BY CENSUS TRACTED, RIGHT? SO, I MEAN, I THINK THAT'S OF INTEREST GONNA BE A CHALLENGE FOR THE FEDERAL GOVERNMENT.

AND THEN IF, YOU KNOW, WHEN IT, HOPEFULLY WHEN THE OPPORTUNITY ALSO ON THIS, ON THE, UM, LOCAL SIDE TO KIND OF DETERMINE LIKE, WELL, YOU KNOW, THERE IS, IT IS BY CENSUS TRACK, BUT, YOU KNOW, BUT YOU'RE REALLY FOCUSING ON COMMUNITY INVESTMENT.

SO HAVING THAT CONVERSATION, YOU KNOW, KINDA MULLING THROUGH THOSE DETAILS, YOU KNOW, THE VARIOUS LEVELS OF GOVERNMENT, I THINK WILL BE LIKE A, A CHALLENGE THAT I KIND OF FORESEE MM-HMM .

COMING, RIGHT? BECAUSE A LOT OF OUR CENSUS TRACKS ARE DIVIDED BY MAJOR ARTERIES OR ROADWAYS, RIGHT? LIKE, UM, SO IT'S ADVOCATING FOR THAT INCENTIVE TO STILL TAKE HOLD WHEN THE WAY IT'S WRITTEN MAY NOT ALLOW FOR THAT SPECIFICALLY.

UM, I HAD A COUPLE QUESTIONS.

ONE, IF WE'RE LOOKING AT THE CAL STATE LONG BEACH HAS DISCUSSED PREVIOUSLY, HOW DO WE INTEGRATE THE COMMUNITY WITH THE UNIVERSITY SO THAT IT'S INTEGRATED INTO MORE OF A MASTER PLAN VERSUS BEING SO SEPARATE? THAT'S ONE THING I, I'D REALLY WANNA TAKE A LOOK AT.

ALSO WANTED TO SEE IF LBCC IS ALSO INCLUDED IN, IN ONE OF THE TRACKS, BECAUSE I KNOW THEY'RE LOOKING AT IT ALSO, UM, HOUSING FOR ITS STUDENTS AS WELL, AND ALSO CREATE A GREAT OPPORTUNITY.

UM, DOES THIS ALSO COINCIDE WITH, UM, IF, IF ACCEPTED, UM, BUILDING WITH THE OLYMPICS, UM, OR, YOU KNOW, MOVING FROM AS AN ECONOMIC ENGINE AND THEN AN ADDITIONAL, UM, QUESTION I HAVE.

SO WHAT YOUR RECOMMENDATION, WOULD THAT BE A MOTION THAT NEEDED TO BE INTRODUCED AND APPROVED? UM, AND THEN, UM, TANGENTIAL TO THAT IS, IT'S SO IMPORTANT BECAUSE WE HAVE SO MANY COMPETING INTERESTS IN THE STATE OF CALIFORNIA RIGHT NOW, UM, FOR THESE, UM, ZONES.

SO WOULD IT BE POSSIBLE TO ALSO SEEK SUPPORT FROM, UM, OUR COUNTY SUPERVISOR, OUR STATE, UM, ASSEMBLY AND SENATOR IN ADDITION TO SENATE AND, UM, CONGRESSIONAL REPRESENTATIVES, JUST TO ENSURE THAT WE DO HAVE, UM, THAT WHOLE ROBUST LEGISLATIVE SLIDE? GREAT QUESTIONS.

UM, I WILL NEED TO SEE, TAKE A LOOK AT THE, UH, UH, THE INFORMATION THAT WAS RELEASED BY THE STATE, UH, I THINK, UH, DAY BEFORE YESTERDAY, UH, TO SEE IF LBCC IS, UM, IT'S IN, YOU KNOW, IT'S A, WELL, UM, THE PACIFIC, UM, CAMPUS I THINK, YOU KNOW, STANDS TO BE IN.

IT WAS DEFINITELY IN ONE OF THE, UM, OR OR NEAR ONE OF THE CENSUS TRACKS THAT WE SUBMITTED.

I THINK IT KIND OF GOES BACK TO THE, THE ISSUE THAT I, UH, KIND OF TOUCHED ON WITH COMMISSIONER MATOYA, WHICH IS THAT COMMUNITIES ARE WR REALLY JUST CONFINED BY CENSUS.

[01:00:01]

THERE'S A SPILLOVER.

UM, SO, BUT I WILL, UH, LET ME, LET ME GET BACK TO THE COMMISSIONER ON THAT ONCE I REVIEW THE INFORMATION THAT RELEASED BY STATE RECENTLY.

AND THEN THERE IS A Q AND A THAT WAS ALSO RELEASED AT THAT POINT ON WHAT IS THE BEST WAY TO GARNER THE SUPPORT OF THE ASSEMBLY, ASSEMBLY MEMBERS AND, AND CONGRESSMEN AND WOMEN.

SO, UM, I THINK THERE IS A PROCESS TO THAT THAT, UH, BUT I WILL DEFINITELY HAVE THAT ON MY RADAR TO MAKE SURE THAT WE, YOU KNOW, CHECK THAT MARK AS WELL, BECAUSE YOU'RE RIGHT, THE MORE SUPPORT THAT WE CAN GET, YOU KNOW, THE, THE MORE FAVORABLE IT IT'S GONNA BE.

AND THEN, UM, LASTLY, I THINK IT WAS THE QUESTION ABOUT CAL STATE LONG BEACH, SIMILAR TO LBCC.

UM, I THINK THERE, YOU KNOW WHAT, I THINK THE NARRATIVE THAT WE WOULD, UM, MOVE FORWARD ALONG WITH THE UNIVERSITY WOULD BE THAT ALTHOUGH THE DESIGNATION IS REALLY, SO THE CENSUS TRACK IS, UM, BASICALLY THE, THE CAMPUS PLUS THE, UH, VETERAN, THE VA HOSPITAL.

UH, SO IT'S AN INTERESTING CENSUS TRACK.

UM, VERY UNIQUE.

SO I THINK, YOU KNOW, THERE YOU REALLY DO LOOK TO, TO HIGHLIGHT THE INVESTMENTS THAT ARE BEING ALREADY DONE BY THE UNIVERSITY, RIGHT? THE JOBS THAT ARE THERE, BUT THEN ALSO YOU'RE LOOKING AT HOUSING FOR STUDENTS, UH, AS WELL, BECAUSE THAT TRACK HAS A VERY, UM, I THINK IT HAD A VERY LOW, UM, UH, POVERTY RATE BECAUSE, YOU KNOW, THEY'RE STUDENTS, SO MOST OF 'EM ARE NOT OUT, NOT WORKING.

SO NOT COUNTING ON THAT END.

SO I THINK IT'S JUST TELLING THE NARRATIVE OF THE INVESTMENTS THAT ARE ALREADY BEING DONE BY THE UNIVERSITY AND THEN HOW THAT IMPACTS HOW THE UNIVERSITY ITSELF IS A RESEARCH AND JOB ENGINE FOR THE WHOLE CITY, RIGHT? NOT JUST THAT CENSUS TRACK SINCE IT IS JUST THE CAMPUS, UH, AND THE HOSPITAL.

SO IT'S JUST, IT'S TELLING THAT NARRATIVE.

I THINK IT REALLY WHAT IT BOILS DOWN TO.

AND THEN BOTH FROM ON THE INVESTOR'S PERSPECTIVE AND GOING BACK TO, UM, UM, THAT PIECE ABOUT LOOKING AT PHILANTHROPY ALUMNI BASED, RIGHT? AND THEN TELLING THAT STORY THAT WE ARE ALL COORDINATING TOGETHER, I THINK IS GONNA BE REALLY IMPORTANT.

UM, ESPECIALLY WHEN WE'RE LOOKING TO LOOK TO THIS TOOL TO, UH, ATTRACT PRIVATE INVESTMENT, UH, THAT IS ALREADY COMING IN AND LEVERAGING WHAT'S ALREADY GOING ON.

THANK YOU COMMISSIONER NOR DEKAR.

UM, SO JUST A QUESTION ON THE, ON THE, THE PROCESS HERE.

SO I UNDERSTAND THAT THERE'S A, A FUNCTIONAL LIMIT THAT ANY STATE CANNOT HAVE MORE THAN 25% OF THEIR QUALIFIED OPPORTUNITY, QUALIFIED ZONES ACTUALLY BECOME OPPORTUNITY ZONES.

IS THAT, IS THAT CORRECT? THAT IS CORRECT, YES.

UM, AND THEN THE STATE HAS SUBMITTED TO THE FEDERAL GOVERNMENT SOME LIST THAT MIGHT BE MORE OR LESS THAN OR EQUAL TO 25% OF THE OPPORTUNITY ZONES, OR IS IT THE 25% THEY RECOMMEND? THEY CAN RECOMMEND UP TO 25%? UH, RIGHT NOW THEY HAVE NOT YET DONE.

SO THEY'RE, UH, OPENED UP THE PUBLIC COMMENT PERIOD THAT HAS OPENED, IT OPENED UP ON, UH, THE THIRD AND WILL RUN THROUGH AUGUST 28TH.

AND THAT'S OUR OPPORTUNITY FOR REALLY ANY AGENCY OR ORGANIZATION, UH, LIKE THE COMMISSION TO THEN SUBMIT A LETTER OF SUPPORT OR EVEN REALLY ANY COMMENT IN GENERAL ABOUT THE INCLUSION OR NOT INCLUSION OF THAT CENSUS TRACK INTO THE PROGRAM.

GOT IT.

SO THE, THE MOMENT HERE IS ABOUT INFLUENCING THE STATE OF CALIFORNIA TO INCLUDE A LARGER PORTION OF OUR LOCAL ZONES AS PART OF THEIR 25% PROPOSAL.

CORRECT.

THAT WOULD BE OUR JOB.

AND THEN, UM, WHEN IT GOES TO THE FEDERAL GOVERNMENT, IS THE FEDERAL GOVERNMENT THEN CUT THAT DOWN OR EVALUATE, OR IS IT BASICALLY THEY ACCEPT THAT 25% OF THE STATE? I WILL DO, WELL CHECK ON THIS, BUT IT'S MY UNDERSTANDING THAT THEY ACCEPT THE 25% OKAY.

UP TO 25%.

SO IT'S, IT'S REALLY ABOUT LOCAL STATE LEVEL, UH, INFLUENCE THERE.

YES.

THAT'S WHAT I UNDERSTOOD.

UNDERSTOOD.

UM, THE, UH, 'CAUSE THE, THE FOUR OR FIVE, UH, POTENTIAL ONES THAT MAY BE INCLUDED IN THIS FIRST REPRESENT ABOUT 10% OF OUR QUALIFIED ZONES IF WE HAVE 44.

AND SO THAT'S, THAT'S QUITE A BIT BELOW THE, YOU KNOW, THE AVERAGE 25%.

SO IT SEEMS AS IF WE SHOULD HAVE, UM, WE'RE WE'RE UNDERREPRESENTED IN, IN THE, UH, A, A ACROSS THE STATE AND RECOGNIZING WE'RE URBAN THAN RATHER THAN RURAL.

SO THAT MIGHT BE DIFFICULT.

SORRY, I FORGOT TO MENTION THIS, THIS ONE BIT.

SO, UM, WE ARRIVED AT THE 30% IN CONSULTATION WITH L-A-E-D-C.

UM, SO THEY ADVISED TO US THAT PROBABLY, YOU KNOW, ANYTHING IF BASICALLY OUR STRATEGY WAS LIKE, DO WE THROW THEM ALL OUT THERE MM-HMM .

WHICH WE DIDN'T REALLY HAVE THE TIME TO DO ALL 44 WITH THE LEVEL OF DETAIL THAT WE WANTED TO PUT FORTH FOR, YOU KNOW, SERIOUS CONSIDERATION FOR EACH.

UM, SO BEING TIME BOUND AND THEN KNOWING, UH, WITH THAT RECOMMENDATION FROM OUR, UH, EDC AT NO MORE THAN 30%, WE WENT OVER THOSE 44 AND, AND NARROWED

[01:05:01]

IT DOWN TO 14.

WE ACTUALLY WENT ONE OVER BECAUSE WE FELT REALLY STRONGLY ABOUT ONE, BUT, UM, .

SO THAT'S KIND OF, UM, HOW WE LANDED AT, AT NO MORE THAN 14 REALLY FROM OUR END.

SO THANK YOU SO MUCH FOR THE PRESENTATION.

OH, OH, ONE QUESTION, COMMISSIONER, YOU LOOKED AT THE PAST TO SEE WHAT INVESTMENT CAPITAL CAME IN OVER THESE TYPES OF PROGRAMS AND BASE ANYTHING ON THAT, LIKE WE HAD SO MUCH INVESTMENT COME IN THE LAST COUPLE YEARS, SO WE CAN PROVE THAT THIS IS A GOOD OPPORTUNITY ZONE.

YEAH, SO WE LOOKED AT MOSTLY, UM, THE STATE WAS INTERESTED IN LOOKING AT PRIVATE, BUT A LOT OF, BUT MOSTLY PUBLIC INVESTMENT.

SO THAT'S WHY WE, UH, REALLY LEANED HARD ON THE ELEVATE 28, UM, INVESTMENT THAT THE CITY HAS BEEN DOING OVER THESE PAST YEARS.

I LOOKED AT OUR, OUR BUDGET FROM PAST YEARS TO DEMONSTRATE THAT WE HAVE, WE ARE COMMITTED TO THAT CENSUS TRACK AND THAT COMMUNITY REALLY THE CED TO THAT COMMUNITY, RIGHT? THAT AREA COMMUNITY, WHICH JUST SO HAPPENS TO, WE HAVE TO SPEAK CENSUS TRACK LANGUAGE TO THIS.

BUT YEAH, WE LOOKED AT THAT PIECE AND THEN WE ALSO RELOOKED AT, UH, HOUSING DEVELOPMENT THAT HAD THAT OCCURRED IN, IN THOSE CENSUS TRACKS.

UM, FROM THE URBAN PERSPECTIVE, THOSE ARE KINDA LIKE THE TWO KIND OF BIG, UH, CATEGORIES THAT WE COULD MAKE A GOOD NARRATIVE TO INCLUDE THE, THE CENSUS TRACKS.

UM, THANKS FOR THAT PRESENTATION.

I HAVE A COUPLE OF QUESTIONS.

IS, IS, SO, UM, MY UNDERSTANDING IS YOU WORKED WITH L-E-E-D-C AND, YOU KNOW, UM, COMMISSIONER SANDOVAL AND I WERE AT A CALIFORNIA STATE CONFERENCE WHERE THE STATE WAS PRESENTING ON THIS WHOLE PROPOSAL.

SO WHAT DO YOU THINK IS GOING TO BE THE COMPETITIVE ADVANTAGE FOR THE PROPOSAL THAT, THAT YOU'LL BE SUBMITTING? BECAUSE THERE ARE SO MANY CITIES, RIGHT? COUNTIES, AREAS THAT ARE GONNA BE SUBMITTING WHAT IS THAT COMPETITIVE ADVANTAGE? SO WE'VE, WE'VE ALREADY SUBMITTED OUR, OUR TRACKS AND FROM WHAT I'VE, MY UNDERSTANDING OF, OF WHAT I READ AND THE, UH, WHAT INFORMATION HAS BEEN COMMUNICATED TO US, IT'S, YOU KNOW, HIGHLY LIKELY THAT, THAT THOSE WILL, WILL, UM, BE SEEN THROUGH.

UH, OBVIOUSLY THE MORE SUPPORT WE DO, UM, THE BETTER, I BELIEVE, UM, IF WE TIE, UH, OUR CENSUS TRACKS TO TWO THINGS.

ONE, THE OPPORTUNITY TO INCREASE HOUSING, AND THEN TWO, THE OPPOR, UH, SHOWING THE, UM, THE OPPORTUNITY OR, AND CURRENT, UH, MOVEMENT IN INVESTMENT INTO ADVANCED MANUFACTURING, AEROSPACE AND AVIATION RESEARCH AND DEVELOPMENT.

SO THE, THE, THE BLUEPRINT, WHAT THE BLUEPRINT CALLS ON THE STATE LEVEL, UM, THE MORE WE CAN SHOW THAT ALIGNMENT TO THAT CENSUS TRACK IS THE HIGHER LIKELIHOOD THAT WE CAN, THAT CAN BE DIFFERENTIATED FROM THE OTHER, UH, CENSUS TRACKS, AT LEAST THE ONES THAT ARE, OR URBAN, RIGHT? VERSUS I THINK THE ONES THAT ARE, THAT ARE, UM, RURAL, THOSE, THOSE ARE JUST GONNA BE DIFFERENT.

UM, BUT WHEN IT COMES TO, UM, OUR CENSUS TRACTS THAT ARE URBAN, YOU KNOW, WHICH IS PRETTY MUCH ALL OF THEM, UH, I THINK WE HAVE A REALLY GOOD COMPELLING CASE TO MAKE IF WE FOCUS ON, UM, INCREASING HOUSING DENSITY AND THEN ALSO, UH, DEMONSTRATING THE EXISTING IN FURTHER CAPACITY FOR THOSE TYPES OF INDUSTRIES.

UM, AND THEN THE ON, ON A PROCESS QUESTION IS, SO WHEN IS THAT PROPOSAL DUE? AND, UM, UH, YOU DID ASK US TO CONSIDER SOMETHING ABOUT US AS A COMMISSION ENGAGEMENT AS WELL AS COMMUNITY ENGAGEMENT.

SO WHEN IS THAT PRO PROPOSAL DUE? YEAH, SO THE PUBLIC COMMENT PERIOD CLOSES ON AUGUST 28TH, AND THAT IS WHEN THE STATE WILL, WILL BASICALLY CLOSE DOWN THE COMING PERIOD.

AND BY THEN WOULD BE IDEAL, UH, IF, UM, THE COMMISSION IS OPEN TO IT, TO ALLOWING THE CHAIR AND VICE CHAIR TO WORK WITH, WITH US TO CRAFT A, A LETTER OF RECOMMENDATION, UM, BY THAT, BY DEADLINE BY THE 28TH.

BY THE 28TH.

SO I'M, I AM ASKING THIS OF THE CITY TOO.

SO, BECAUSE, YOU KNOW, WE GO THROUGH THAT ETHICS TRAINING TOO.

SO IS IT, UM, IT'S OUR UNDERSTANDING THEN YOU'RE ASKING US TO WRITE A, AS A COMMISSION, WRITE THE LETTER OF RECOMMENDATION.

YOU KNOW, WE UNDERSTAND AS COMMISSIONERS THAT WE CANNOT DO INDIVIDUAL RECOMMENDATIONS UNLESS IT'S ON BEHALF OF AN ORGANIZATION.

SO I JUST WANNA CLARIFY WHAT YOU'RE ASKING US TO DO.

SO FOR THE PUBLIC COMMENT PERIOD, ANYONE, EVEN A PRIVATE, YOU KNOW, PRIVATE CITIZEN ON THEIR OWN, CAN SUBMIT A PUBLIC COMMENT.

UH, A NONPROFIT ORGANIZATION LIKE A BID FOR EXAMPLE, CAN ALSO DO IT.

UM, A BUSINESS IN OR AROUND THAT CENSUS TRACK COULD DO IT AS WELL.

UM, I ASK TO YOU GUYS AND MAKE SURE THAT, UH, YOU KNOW, THE ATTORNEY IS, IS OKAY WITH IT, IS REALLY JUST FOR THE COMMISSION TO VOTE AND, AND ALLOW, UM, YOU CHAIR AND THE VICE CHAIR TO WORK WITH STAFF TO CREATE A LETTER OF RECOMMENDATION THAT WE CAN THEN SUBMIT ON BEHALF OF THE COMMISSION.

DID THAT, WAS THAT HELPFUL? YEAH, IT IS.

I, I JUST WANTED TO MAKE SURE THAT IF THERE WERE ANY COMMENTS FROM THE CITY ATTORNEY'S OFFICE AS FAR AS, YEAH, I BELIEVE IT.

JUST LIKE A FRIENDLY AMENDMENT.

[01:10:01]

CORRECT.

UM, AND THEN THE OTHER THING ELSE IS THAT, BECAUSE YOU NOTED ON HERE THE GREEN, PURPLE, AND RED, THOSE ZIP CODES IS, UM, SO DO THE LETTERS OF RECOMMENDATION THAT YOU'RE ASKING US TO THEN GO OUT, IT COULD BE, COULD IT BE FROM ORGANIZATIONS OR INDIVIDUALS THROUGHOUT THE CITY? OR DO, IS IT, DO THEY NEED TO BE WITHIN THOSE ZONES? NO, IT CAN BE FROM, FROM REALLY, REALLY FROM, FROM ANY ORGANIZATION.

SO, FOR EXAMPLE, WHEN IN WORKING WITH LADC, THEY OFFERED TO PROVIDE LETTERS OF RECOMMENDATION FOR THE CENSUS TRACKS.

UM, SO WE'LL BE TAKING THEM ON, ON THAT OPPORTUNITY.

RIGHT.

AND I WAS GONNA BE REACHING OUT TO THE BIDS AS WELL, UM, TO SEE IF THEY'RE OPEN TO, TO PROVIDING THAT SUPPORT.

SO REALLY ANY AGENCY OR ORGANIZATION, UH, IS, IS, UM, YOU KNOW, CAN SUBMIT THOSE COMMENTS.

THAT'S, THAT'S MY QUESTIONS.

THANK YOU VERY MUCH.

NO PROBLEM.

OH OH COM AND COMMISSIONER NOR DEKAR, UM, UH, IT, IT SEEMS THAT ACTIVATING LOCAL BUSINESSES AND INDIVIDUALS TO WRITE LETTERS OF SUPPORT MIGHT BE LIKE THE MECHANISM BY WHICH WE CAN HAVE A VOICE.

UH, IS THERE A PLAN TO REACH OUT TO ALL OF THE BUSINESSES OR ALL OF THE STAKEHOLDERS WHO HAVE AN INCENTIVE IN THE AREAS THAT ARE, THAT WE'RE ADVOCATING FOR, AND PROVIDE THEM A SEAMLESS, EFFORTLESS, EFFICIENT WAY OF SUBMITTING THEIR LETTERS? CONSIDER AN ONLINE FORUM WHERE IT AUTO-POPULATES, AUTO GENERATES THEIR CONTENT, AND THEN CREATES A LETTER AND, UH, SENDS IT TO THE APPROPRIATE, UM, RECIPIENTS.

SO I'LL NEED TO LOOK INTO THE DETAILS, BUT I DID TAKE A FIRST PASS AT THE, UM, PUBLIC COMMENT PLATFORM FOR THE STATE, RIGHT? IT IS A STATE RUN PROCESS, SO THEY HAVE A VERY DELINEATED, YOU KNOW, IT MUST BE THROUGH THIS LINK, IT MUST BE THROUGH THIS FORM, ALTHOUGH IT WILL NOT BE CONSIDERED.

UM, WHAT I WAS, UH, THINKING OF DOING IS ESSENTIALLY DO A TEMPLATED LETTER, UH, AND THEN, UM, SHARE THAT WITH PEOPLE THAT MAY WANT TO, YOU KNOW, AGENCIES, BUSINESSES THAT WANNA SUPPORT.

JUST ALSO TOO IS IT'S, UM, THE TIMELINE IS VERY TIGHT.

SO REALLY JUST TRYING TO MAXIMIZE, RIGHT? MAYBE LOOKING AT KEY STAKEHOLDERS IN OR AROUND THE CENSUS TRACK, UM, I THINK WAS THE APPROACH THAT WE'RE LOOKING, UH, TO MAKE OR ALSO, YOU KNOW, LEANING ON OUR EXISTING ASSOCIATIONS, YOU KNOW, YOU KNOW, BUSINESS ASSOCIATIONS, CHAMBERS, THINGS LIKE THAT, UH, WITHIN THIS NEXT FEW WEEKS TO, UM, SEE THAT THROUGH.

BUT THE, THE PROCESS OF THE STATE PROCESS, AND YOU CAN HAVE THE OPTION, BASICALLY YOU HAVE THE OPTION TO PROVIDE A COMMENT IN THE, IN THE TEXT, IN THE FIELD OR, AND OR, UM, PROVIDE AN ATTACHMENT, UH, WHICH WOULD BE LIKE A LETTER, THE LETTER ITSELF, AND THEN SUBMIT THAT.

AND IT'S BY CENSUS TRACK.

SO I, YOU KNOW, I ALSO KNOW THAT OUR PARTNERS ARE BUSY, RIGHT? SO IF THEY WANNA DO ALL, YOU KNOW, ALL OF THE TRACKS, THAT'S THAT, THAT'D BE GREAT.

BUT I ALSO UNDERSTAND, YOU KNOW, THAT OUR ASK PROBABLY HAS TO BE TAILORED AND, AND, AND VERY FOCUSED ON MAYBE THE TRACK THAT THEY WOULD SEE THE MOST INTEREST IN SEEING THROUGH.

SO THAT'S JUST, YOU KNOW, SOME OF THE THINGS THAT I WAS THINKING ABOUT AS WE GO TO PUSH THE ADVOCACY PIECE, IT MIGHT BE AN OPPORTUNITY TO, UM, IN-HOUSE HAVE SOME AI TOOLS THAT GENERATE THOUGHTFUL, ALIGNED, APPROPRIATE LETTERS THAT THEN GIVE PEOPLE THE TEXT THEY CAN COPY AND PASTE INTO THAT BOX OR GENERATE THE PDF THAT THEY WOULD OTHERWISE NOT HAVE THE TIME TO DO.

SO THAT'D BE GREAT.

ANY OTHER QUESTIONS OR COMMENTS? OKAY.

EXCUSE ME, CHAIR, JUST TO CONFIRM, COMMISSIONER MATOYA AS A MAKER OF THE MOTION, DO YOU AGREE TO THE FRIENDLY TO SUBMIT THE LETTERS OF RECOMMENDATION? YES, THANK YOU.

HE'S GONNA BE PROVIDING ONE THEN.

ALRIGHT.

THANK YOU FOR ASKING THAT.

I WAS GONNA ASK, WE HAVE A SEPARATE MOTION, BUT THAT WORKS TOO.

SO, UM, CAN WE, UM, GO AHEAD AND PUB, IS THERE ANY PUBLIC COMMENT ON THIS AGENDA ITEM? ? NO PUBLIC COMMENT HERE.

RECOMMENDATION TO RECEIVE AND FILE EXECUTIVE DIRECTOR'S REPORT.

SO WHY DON'T WE GO AHEAD AND TAKE A VOTE? MOTION IS CARRIED.

OKAY, GREAT.

THANK YOU VERY MUCH.

THANKS FOR THAT, THE VERY THOUGHTFUL DISCUSSION.

OKAY, WHY DON'T WE MOVE TO AGENDA ITEM NUMBER FOUR AND THERE'S PLENTY OF TIME FOR AGENDA NUMBER FOUR, , I'M SO SORRY.

CHAIR ITEM FOUR,

[4. 26-55746 Recommendation to receive and file Executive Director’s Report. Suggested Action: Approve recommendation. ]

CAN WE HAVE A MOTION FOR THAT?

[01:15:01]

WE HAVE A MOTION FROM COMMISSIONER SMITH AND A SECOND FROM COMMISSIONER MATOYER.

ALRIGHT.

I MEAN, IT'S CRAZY.

WE HAVE SO MUCH TIME.

I DON'T EVEN KNOW WHAT TO DO WITH IT.

MAYBE BRIEF.

UM, NO, UH, UH, I WON'T TAKE MUCH TIME HERE, BUT IT HAS BEEN A COUPLE MONTHS.

I JUST WANTED JUST TO HIGHLIGHT SOME OF THE THINGS I'VE BEEN GOING ON AT THE CITY.

OF COURSE, I, I, UH, I, I, I TRY JUST, UM, TO KEEP YOU GUYS UP TO DATE.

SO, YOU KNOW, AND ON JUNE 6TH WE HAVE THE FMM, UH, AMPHITHEATER GRAND OPENING.

SO THAT WAS JUST, YOU KNOW, OBVIOUSLY A HUGE ACCOMPLISHMENT ON BEHALF OF THE CITY, THE STAFF, THE COMMUNITIES, OUR PARTNERS.

UM, SO, UM, YOU KNOW, I'M LOOKING FORWARD TO LOOK AT THE, THE IMPACT THAT OCCURS THERE.

AND I, I KNOW COMMISSIONER, UH, NOTKER HAD MENTIONED LIKE, IS THERE A WAY WE CAN, UM, TAKE A LOOK AT THAT, WHAT THAT ECONOMIC LOOK IMPACT LOOKS LIKE? SO, UH, I HAVEN'T FORGOTTEN.

I'M WORKING ON THAT.

MAKE SURE THAT WE CAN, YOU KNOW, HAVE THAT INFORMATION THAT WE CAN, UM, MAKE A GOOD INFORMED DECISION FROM THERE.

BUT JUST WANTED TO SHARE THAT WITH YOU ALL.

UH, THAT THE AMPHITHEATER IS NOW OPENED, UH, AGAIN, BIG ACCOMPLISHMENT FOR, FOR THE WHOLE CITY.

SO VERY EXCITED TO SEE THAT.

UM, WE HAD ALSO DIVERGENT A 3D TECHNOLOGY, UH, PRINTING COMPANY MOVED TO OUR NORTH LONG BEACH, UH, UM, NORTH LONG BEACH, WHICH IS A, THEY TOOK OVER A 130,000 SQUARE FOOT FACILITY THAT HAD BEEN EMPTY FOR I THINK AT LEAST TWO OR THREE YEARS.

UH, PREVIOUSLY IT WAS LIKE A PARCEL.

IT WAS USED FOR PARCEL SERVICES.

SO THAT'S REALLY EXCITING.

UM, YOU KNOW, THEY COMMITTED PUBLICLY TO A THOUSAND JOBS THERE.

UM, AND THEN, YOU KNOW, ALSO JUST FILLING BIG BOXES LIKE THAT IS A VERY DIFFICULT THING.

AND, UH, YOU KNOW, IT'S A, I THINK A GREAT, UH, WIN FOR, FOR NORTH LONG BEACH.

UH, AND THE CITY IN GENERAL.

SO, VERY EXCITED, YOU KNOW, TO SEE SPACE BEACH, EXCUSE ME, EXPAND BEYOND, IT'S LIKE HISTORIC KIND OF LIKE, UH, AREA.

I THINK THAT'S TELLS US THAT THERE'S VERY SERIOUS AND REAL MOMENTUM.

SO, UM, LOOKING FORWARD TO, TO SEEING MORE OF THAT OCCUR.

UM, STILL STICKING ON SPACE SPEECH.

WE HAD THE SPACE SPEECH, YOUTH CAREER EXPEDITION, UH, WHICH IS FOR YOUTH FROM 17 OR 21 YEARS OF AGE.

UH, AND THE WHOLE IDEA BEHIND THAT IS FOR OUR YOUTH TO EXPLORE, YOU KNOW, AEROSPACE CAREER PATHWAY.

SO THEY'LL BE HAVING A CULMINATION, I BELIEVE, IN THE NEXT COUPLE OF WEEKS, UH, TO CELEBRATE THAT.

AND, UH, AS YOU MAY RECALL LAST, THIS IS THE THIRD YEAR, SO YOU MAY RECALL.

IT ESSENTIALLY, UH, INVOLVES JUST A, A SERIES OF PANELS AND, AND SITE VISITS TO OUR SPACE SPEECH COMPANIES HERE.

UH, SO THEY ARE AWARE OF, YOU KNOW, THE REALLY AMAZING CAREER OPPORTUNITIES THAT, UH, WE HAVE HERE, UM, TO GET PEOPLE EXCITED ABOUT, YOU KNOW, SCIENCE, OBVIOUSLY ENGINEERING, UM, PROFESSIONS.

UH, WE ALSO HAD A SERIES OF WORLD CUP EVENTS.

UH, THAT WAS, I THINK, UH, YOU KNOW, AS A RESIDENT WAS VERY EXCITING.

BUT ALSO, UM, IT WAS A GREAT, REALLY GREAT TO SEE, UH, YOU KNOW, LIKE OUR DOWNTOWNS ACTIVATED, UH, SMALL BUSINESSES BE PART OF THAT.

UM, I'M NOT SURE IF, UH, COMMISSIONER MATO MIGHT WANNA SPEAK TO THIS, BUT, YOU KNOW, DOWNTOWN WAS, WAS I THINK VERY LIVELY AND WE HAD THE, UH, UH, ENTERTAINMENT ZONES.

UH, WE'RE IN FULL FORCE, SO WE'RE STILL REALLY LEARNING ABOUT THAT.

AND WANNA, I THINK FROM OUR PERSPECTIVE, GET SOME FEEDBACK FROM THE BUSINESSES THERE TO SEE WHAT, YOU KNOW, WHAT WENT WELL, WHAT COULD BE GOING BETTER.

UM, AND OF COURSE, THIS IS AS WE'RE GEARING UP FOR THE OLYMPIC GAMES, RIGHT? SO, UM, JUST KNOW THAT OUR DEPARTMENT IS VERY, UH, CUED IN AND INTERESTED IN JUST HOW THE WORLD CUP EVENTS WENT, RIGHT? AND, AND OTHER SIMILAR, UM, EVENTS SO THAT WE CAN START PREPARING WELL OR CONTINUE TO PREPARE, I SHOULD SAY, AS WE ROLL INTO THE GAMES THERE.

AND THEN, UM, LASTLY, UH, THE, UH, FYI FISCAL YEAR 27 BUDGET WAS RELEASED, UH, LAST WEEK.

UM, SO IF, UH, I WILL, I'M HAPPY TO SHARE THAT INFORMATION.

UM, THE BUDGET INFORMATION RIGHT NOW, UM, WHAT WILL HAPPEN, UH, NEXT IS A SERIES OF COMMUNITY MEETINGS.

SO I BELIEVE THERE IS A VIRTUAL MEETING EITHER TODAY OR TOMORROW.

UH, BUT THEN ALSO THERE IS, UH, THE NEXT COMMUNITY MEETING IN PERSON IS THIS SATURDAY AS WELL.

UM, HAPPY, UH, I WILL SEND THAT CHAIR IF YOU'D LIKE, THAT, THAT AGENDA, UH, THAT SCHEDULE, SO THAT YOU ALL CAN ATTEND IT IF INTERESTED.

UM, AND, BUT I DEFINITELY ENCOURAGE YOU ALL TO TAKE A LOOK AT THE PROPOSED BUDGET, RIGHT? AND THAT IS A, A, UH, MULTI-MONTH PROCESS, RIGHT? SO, UH, THERE'S A SERIES OF, OF MEETINGS BY, UH, THE BOC, THE, UM, TO THEN REVIEW AND LOOK AT THE RECOMMENDATIONS.

UH, BUT, UM, DEFINITELY ATTEND THOSE, YOU KNOW, IF INTERESTED THOSE COMMUNITY BUDGET MEETINGS.

UM, I THINK THEY'RE VERY HELPFUL.

I'LL BE THERE ON SATURDAY IF ANYONE WANTS TO, YOU KNOW, UH, HANG OUT THERE WITH ME.

BUT REALLY, YOU KNOW, AS COMMISSIONERS, UH, U 10 AS, AS RESIDENTS AS WELL, UH, REALLY ENCOURAGE YOU TO DO THAT.

UH, THIS BUDGET YEAR IS A VERY, UH, DIFFICULT BUDGET YEAR, RIGHT? UM, THE CITY IS FACING APPROXIMATELY A $58 MILLION DEFICIT.

SO OUR CITY MANAGER HAS, YOU KNOW, MADE A SERIES OF PROPOSALS TO MITIGATE THAT.

UH, AND THEN THE MAYOR AS WELL.

SO DEFINITELY ENCOURAGE YOU ALL TO, TO SPEND SOME TIME AND YOU'RE ALREADY ENGAGED AS,

[01:20:01]

AS IS.

BUT, UM, ENCOURAGE YOU TO ATTEND THE COMMUNITY BUDGET MEETINGS OR, OR STAY UP TO DATE ON THOSE AND, AND, YOU KNOW, HELP JUST SPREAD THE WORD.

THAT RIGHT NOW IS A GREAT TIME TO, UH, ATTEND THOSE MEETINGS SO THAT YOU ALL CAN DO YOUR CIVIC DUTY AND, UH, YOU KNOW, INFLUENCE THE BUDGET PROCESS.

SO I WILL END IT ON THAT NOTE.

AND, UM, THAT CONCLUDES MY REPORT.

COMMISSIONER MATOYER? YEAH.

UH, JULIAN, JUST ON THAT NOTE, UH, WHAT'S, DO YOU GUYS HAVE A SENSE OF WHAT THE IMPACT WILL BE FOR THE ECONOMIC DEVELOPMENT OPPORTUNITY DEPARTMENT WHEN IT COMES TO THE BUDGET PROCESS AND, AND WHERE PROGRAMS WILL STAND IN FISCAL YEAR 27? YEAH, SO, UM, I'VE HAD A CHANCE TO LOOK AT THE PROPO, THE PROPOSALS, CITY MANAGER, AND, UM, YOU KNOW, FORTUNATELY WE'RE NOT IMPACTED DIRECTLY BY, UM, BY THE PROPOSALS, ALTHOUGH A LOT OF OTHER DEPARTMENTS ARE RIGHT BOTH IN PROGRAMMING AND STAFF, AND THAT'S JUST GONNA BE A DIFFICULT PROCESS.

UH, YOU KNOW, WE, AS YOU GUYS MAY, MAY KNOW, LIKE WE WILL NOT KNOW THE OUTCOME UP UNTIL THE, THE COUNCIL PASSES THE, YOU KNOW, PASSES THE, THE BUDGET, UM, IN A COUPLE MONTHS.

UM, I WILL SAY THE GOOD NEWS ABOUT, UH, THE MANY PROGRAMS, PARTICULARLY SMALL BUSINESS PROGRAMS FOCUS IS THAT, UM, LAST, THE FY 26, UH, THE COUNCIL DID PASS, YOU KNOW, SEVERAL MILLION DOLLARS IN RDA REDEVELOPMENT AGENCY, UH, DOLLARS.

SO OUT OF THOSE DOLLARS, YOU KNOW, WE WERE ABLE TO SUPPORT THE BIDS, UH, YOU KNOW, ONE TIME BID SUPPORT FOR TWO YEARS.

SO GOING INTO NEXT YEAR, RIGHT? WE'RE ABLE TO, UH, INCLUDE, UH, FUNDING FOR OUR LEGACY BUSINESS PROGRAM FOR DIGITAL, YOU KNOW, DIGITAL ACCESS AND, AND MAKE SURE THAT OUR SMALL BUSINESSES LEGACY BUSINESS HAD ACCESS.

SO I THINK WE WERE VERY FORTUNATE IN THAT WE WERE ABLE TO TAP INTO FUNDS THAT WERE, HAD BEEN ACCUMULATED OVER TIME DUE TO THE SALE OF, UM, UM, REDEVELOP THE REDEVELOPMENT AGENCY, UM, ASSETS BY THE CITY AND SUPPORT, UH, THE SMALL BUSINESSES WE MIGHT CALL, UH, THE MAYOR'S, UH, SMALL BUSINESS REBOUND INITIATIVE.

UM, THAT WAS A LOT OF CONTINUATION OF THOSE PROGRAMS LIKE THE VIP AND THEN WE'LL SOON BE ROLLING OUT A SAFE AND SECURE PROGRAM AS WELL.

SO, CONTINUING OUR, OUR, YOU KNOW, OUR SMALL DOLLAR GRANTS FOR VANDALISM AND CAMERAS, UH, THINGS OF THAT NATURE.

SO, UM, I THINK THAT IS, YOU KNOW, FORTUNATELY, UH, FROM, UH, OUR PERSPECTIVE THAT WE DO HAVE FUNDING, UH, FOR THE NEXT FISCAL YEAR.

SO THAT, THAT PART IS THE, IS THE GOOD PART.

BUT, YOU KNOW, THERE IS NO, NO MISTAKE THERE FROM LIKE A MORE GLOBAL PERSPECTIVE.

IT IS A VERY DIFFICULT, UH, SITUATION.

YEAH.

COMMISSIONER HAAS, THANK YOU.

UM, JUST WANTED TO SAY IT WAS REALLY GREAT TO GO TO THE INAUGURAL, UM, AMPHITHEATER EVENT WITH THE US CONFERENCE OF MAYORS.

IT WAS SEAMLESS, UM, CONSIDERED THE FIRST TIME AS FAR AS THE, THE TRANSPORTATION.

UM, ALL THE LOCAL MAYORS THAT WERE THERE FROM THE US CONFERENCE OF MAYORS WAS VERY HAPPY WITH IT.

SO IT WAS, IT WAS A REALLY GREAT, UM, EVENT.

ALSO WANTED TO GIVE A KUDOS TO THE, UM, THE PROCESS FOR THE WORLD CUP.

THAT WAS GREAT TO SEE ALL THE ACTIVITY ON PINE STREET, SEEING FOLKS ACTUALLY ENGAGED OUR COMMUNITY ENGAGED AND HAPPY.

SO THAT WAS NICE TO SEE THAT, UM, AS WELL, IN TERMS OF THE BUDGET, UM, I REALLY DO BELIEVE IT'S, IT'S IMPORTANT TO HAVE ALL OF OUR LOCAL CONSTITUENCIES OR SMALL BUSINESSES ENGAGED.

SO I'M JUST CURIOUS WHAT THE PLAN IS TO ENGAGE OUR LOCAL BUSINESSES TO LEARN ABOUT THE PROCESS AND HOW THEY CAN WEIGH IN, UM, DURING THIS TIME.

WELL, THANK YOU FOR THAT COMMENT ON, ON, UH, ON THE AMPHITHEATER.

I'LL MAKE SURE THAT OUR TEAMS AND THE OTHER TEAMS, UM, YOU KNOW, HEAR THAT.

UM, IT'S GOOD TO HEAR, UH, FOR THE PIECE.

SO THE CITY, UM, TYPICALLY TAKES THE, THE, YOU KNOW, THE, THE MAIN COMMUNICATIONS TEAM TAKES A LEAD IN, IN, UM, UM, DISSEMINATING THAT INFORMATION.

UH, BUT I WILL MAKE SURE THAT FROM OUR, UH, SPECIFIC DEPARTMENT, UH, COMMUNICATIONS CHANNELS, WE ALSO SHARE THOSE OUT, UM, FOR AND IN OUR, UH, EXISTING LIKE, UH, DISTRIBUTION LIST.

SO THANK YOU FOR THAT.

'CAUSE I HAVE BEEN MEANING TO DO THAT AND HAVE NOT DONE THAT YET.

AROUND OUR BUDGET, YOU KNOW, THE ECONOMIC DEVELOPMENT DEPARTMENT NOT ONLY IS A REVENUE GENERATOR FOR TAXES, FOR, FOR WORKFORCE, FOR JOBS, BUT IT ALSO IS, UM, ABOUT SUPPORTING OUR BUSINESSES.

ANY OTHER COMMENTS? OKAY.

I HAVE A COUPLE OF THINGS IS, YOU KNOW, UM, AS ALWAYS, THANKS TO THE ECONOMIC DEVELOPMENT DEPARTMENT AND THE TEAM FOR ALL THE, THE GOOD WORK THAT YOU'RE DOING.

UM, I TOO WAS INVOLVED IN BEING DOWNTOWN FOR THE WORLD CUP AND ALSO SAW THAT THERE WAS SO MUCH GOING ON AROUND TOWN TOO.

AND YOU KNOW, I KNOW THAT THIS IS KIND OF LIKE PRE OLYMPICS TOO, KIND OF A TESTING.

SO JUST WANTED TO SAY, YOU KNOW, SAFE, SECURE.

IT WAS REALLY GREAT DOWNTOWN.

SO THANKS TO OUR, OUR, UM, DLBA AS WELL AS A LOT OF THE PEOPLE WHO MAKE SURE THAT, YOU KNOW, PEOPLE HAVE A PLACE TO CONVENE AND ALSO THERE'S A LOT OF GREAT ACTIVITY.

SO THANKS A LOT.

UM, THE OTHER THING IS, IS THAT I DID WANT TO JUST ECHO, UM, SUPPORT FOR LOOKING AT ECONOMIC DEVELOPMENT IN OUR CITIES, RIGHT? OUR CITY SPECIFICALLY IS WHATEVER YOU CAN DO TO MAYBE SEND OUT A ONE PAGER TO US SOME INFORMATION AS FAR AS SOME OF THE KEY PROGRAMS THAT YOU DO.

BECAUSE I DO THINK THAT IF WE CAN ECHO THAT IN VARIOUS MEETINGS

[01:25:01]

AND SO WHATEVER WE CAN DO TO ENGAGE BUSINESSES AND JUST BEING VOCAL ABOUT, UM, HOW THOSE SERVICES SUPPORT THEM, I THINK THROUGH THE PROCESS, WHICH IS VERY ITERATIVE, RIGHT, IS CAN BE HELPFUL, YOU KNOW, UM, IT'S GOING TO KEEP CHANGING THE BUDGET.

AND SO WHATEVER WE CAN DO TO BE ABLE TO HIGHLIGHT OR SPOTLIGHT SOME OF THOSE PROGRAMS, UM, CAN ALSO, I THINK, BE HELPFUL FOR ECONOMIC DEVELOPMENT.

AND THEN THE, THE LAST PART IS, UM, ESPECIALLY WHEN IT RELATES TO THE BUDGET PROCESSES, WHATEVER YOU CAN DO TO KEEP US INFORMED AS A COMMISSION.

UM, AND, YOU KNOW, WE HAVE OUR MONTHLY MEETINGS, WHICH IS, IS GREAT, BUT IF THERE ARE OTHER THINGS THAT YOU CAN INFORM US ABOUT, ESPECIALLY ABOUT THE ECONOMIC DEVELOPMENT BUDGET, UM, THAT CAN BE HELPFUL TOO.

ANYTHING ELSE FROM OUR COMMISSIONERS? OKAY.

ANY OTHER PUBLIC COMMENTS ON THIS AGENDA ITEM? IF THERE ARE ANY MEMBERS OF THE PUBLIC THAT WOULD LIKE TO SPEAK ON ITEM FOUR, PLEASE LINE UP AT THE PODIUM.

SEEING NONE.

COMMENT ON NON AGENDA ITEMS? SEEING NONE, THANK YOU.

WHY DON'T WE TAKE A VOTE TO RECEIVE AND FILE THIS REPORT.

UM, ANY OTHER ADDITIONAL REPORTS OR COMMENTS FROM OUR COMMISSIONERS CHAIR? CAN WE MOVE ON TO, OH, PUBLIC COMMENT, , NON AGENDA, PUBLIC COMMENT, ALL, ANY PUBLIC

[PUBLIC COMMENT Opportunity to address the Economic Development Commission on non-agenda items. Each speaker is limited to three minutes to make their comments unless extended by the Chair.]

OKAY, GREAT.

THANK YOU SO MUCH FOR THOSE FRIENDLY REMINDERS.

OKAY, .

ABOUT FROM OUR COMMISSIONERS? ANYTHING ELSE THAT YOU WOULD LIKE TO ANNOUNCE, SHARE WITH EVERYBODY? GET OUR SUPPORT.

HOW

[ANNOUNCEMENTS]

COMM, COMMISSIONER MATOYER.

YEAH, I'D LIKE TO EXTEND AN INVITATION TO EVERYBODY, UH, TO COME OUT TO PINE AVENUE ON AUGUST 22ND, WHICH WILL BE OUR TASTE OF DOWNTOWN, UH, IN PARTNERSHIP WITH KCRW, UH, FOR THEIR SUMMER NIGHT SERIES.

SO THIS WILL BE ONE OF THEIR LAST SUMMER NIGHT EVENTS, UH, BEFORE SUMMER WRAP UP WRAPS UP.

SO AUGUST 22ND FROM TWO TO 10:00 PM OKAY.

ANYTHING ELSE? OKAY, WELL, LOOKS LIKE THE MEETING'S ADJOURNED EARLY THANKS EVERYBODY FOR

[ADJOURNMENT]

YOUR TIME.

WE WILL SEE YOU AGAIN NEXT MONTH.

AND THEN ALSO I KNOW THAT, UM, JULIAN AND CARLA WILL BE FOLLOWING UP WITH PEOPLE.

WE DO WANNA SET LIKE PROBABLY THE MONTH OF NOVEMBER TO REALLY TALK THROUGH SOME OF THE REPORTS ON THE WORK OF, UM, OUR COMMITTEES.

BUT I THINK WE'RE PRETTY MUCH IN THE CLEAR TO START WORKING ON THAT.

OKAY? OKAY.

THANKS EVERYONE.