Recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing; and adopt resolution approving the issuance of revenue bonds by the California Municipal Finance Authority (CMFA), to benefit a partnership to be formed by Abode Communities and American Gold Star Manor, a non-profit corporation, in an amount not to exceed $60,000,000.  (District 7)
Okay, thank you. We're doing a couple of items, and we're gonna go to our regular agenda. One, a couple items quickly out of order. Just left some folks here we do item 17. Real briefly. First, Madam Clerk, for an item 17. Item 17 report from Financial Management and Development Services recommendation to receive supporting documentation into the record regarding the Tax Equity and Fiscal Responsibility Act, a public hearing and adopt resolution approving the issuance of revenue bonds by the California Municipal Finance Authority in the amount not to exceed $60 million. District seven. Okay. There's a motion. Can I get a second? Okay. There's a motion and a second. Mr. West, you want to add to that? Yes. We have a quick staff report by our treasurer David Nakamoto, and Amy Bodak, our. Development services director. Thank you, sir. Honorable Mayor and members of the City Council before you is a recommendation to receive supporting documentation into the record regarding the temporary hearing and adopt a resolution approving the issuance of revenue bonds by CMB to benefit the Abode, Communities. And American. Gold Star Manor Partnership in an amount not to exceed $60 million. The project. Current current affordability covenants are expiring are and are at risk of reverting to market rates. CFM will issue tax exempt bonds to finance the acquisition and rehabilitation of the apartment building known as American Gold Star Manor. The intent of this acquisition is to preserve 337 affordable senior housing units for 55 years. There is no fiscal impact on the city associated with this action. The city has no financial obligation or liability associated with this financing. The project is expected to provide approximately 50 jobs during the rehabilitation. City action is requested on September 8th, 2015 to facilitate CMF forthcoming bond issuance. This concludes staff's report. Okay. Thank you. Is there any public comment on the item? Come forward. Very good. I'm not quite clear, obviously, if we can provide that type of housing for that number of citizens. That's great. But if we have no liability. Why are we even discussing this tonight? That that hasn't been explained. What's the city's role? Thank you. Next speaker, please. Here we go. I live in Long Beach and run the manor. And this is a second step of our plan to do the renovation. The first one was getting all of the vouchers we need from HUD for all of our goals, for all of our veterans, all of the seniors. And this is the one you voted on not too long ago to have the housing authority certify all of that. That program is going 180 miles an hour. This is step two, which provides the funding then to do all of the renovation for $58 million. It will make the manor the safest, the greenest and certainly the most comfortable facility of its kind in all of Long Beach in a manner will truly become the jewel of Long Beach. Thank you for your support. Thank you. Any other public comment? One more. Thank you so much, Mr. Mayor. Members of the council, Gary Shelton at 240 Chestnut Avenue. I just wanted to remark that this is yet one more fabulous moment moving forward in the maintenance and and assurance of affordable housing in the city of Long Beach for senior citizens. I live in a senior citizen affordable housing project, and when these things come into that danger period of when the affordability is about to expire, oh my gosh, everybody begins to panic. And the fact that Goldstar Manor is stepping up and saying, let's do this, and the the city is saying and I believe to help Mr. Goodhew understand it, simply because this is within the city limits and the city council has to say, yes, we know this is happening. I think that's the extent of it, is how these bond issues, which is a tough road bond issues work. But in any regard, I just wanted to express that as a watchdog over affordable housing. I'm so glad to see this happening. And by the way, in case you're not sure, this is like the fourth time in the past 12 months or so that there has been a last minute saving of affordable housing toward 50 to 55 years into the future. The affordable housing advocates in town couldn't be any happier. Thank you so much. Thank you, Councilman Mongo. I just wanted to thank Gold Star Manor for hosting Councilmember your night. He wasn't available this evening. He's out. But thank you for all that you do to the community and and thank you for all your work. Did either the makers of the motion have any comments? Nope. Okay, great. Have a motion on the floor. Please cast your votes. It's not. Is there is there an issue or. Yeah. I'm a yes, but. Yeah, it's coming in. I would say. Okay. There we go. The motion was Richardson. The second was Pryce. It's well we'll we'll fix on the record. On the record. What did the. Did it go through or. Yeah. Let's go and take a while. We're figuring this out. We're just going to go and take a vote. I was in favor of the motion. Say I. And you oppose any abstentions? The motion carries unanimously. So we're good there. Why don't we do my announcement? Then we'll go back to the agenda. Motion passes, it's up. Okay. So the announcements that we had was I want introduce our new h.r. Director for a second time. This time we're going to get it here. And I want to introduce and welcome alejandro vasquez who is here. Alex Vasquez, please step up here for a second. Just say hello. And I'm going to say a few things about her. As we all know, Debbie Mills, who's next to her, has done a great job. Let's give Debbie a big round of applause, first of all. And and Miss Vasquez is coming to us from the city of Los Angeles, where she was the assistant general manager in the personnel department. So she has worked in large scale personnel and H.R. environments. She is loves loves. Long Beach holds a master's degree in public policy from the University of Chicago, Bachelor of Arts degree in Social, Social Ecology from the University of California, Irvine. And she, I think, starts today or pretty or pretty soon. Is that that sound about right. And I know has a lot of experience in Long Beach as well. So thank you. Ms.. Vasquez, did you want to say anything to the council or. You don't have to. I'm putting you on the spot. Come forward and just say hi really quick. You have very big shoes to fill. And as you know, it's a it's a very big job. Yes. I'm just I want to just want to say I'm really happy to be here. I. Debbie's been great. She's been with me all day, making sure I have a great transition. And I'm looking forward to working with all of you as well as from the Human Resources Department. Thank you. Thank you and welcome you as well. Want to go out and do now because there's a big group of them here. We're going to ask the presentation from Candice Taylor Sherwood and Tom Leary, which I know they pull the speakers card. And we've got a big group, so come on forward. Hello, everybody. My name is Candace Taylor Sherwood. And while I am a Long Beach City employee today, I'm here. As a resident of the. Third district. Suzy Pryce, we love you and a proud volunteer and a certified member of the Community Emergency Response Team. And hello, everybody. I think we're gonna have to put this away. Hello, everybody. I'm Tom Leary. I'm also a city employee, and I'm here as a volunteer to help the fire department with the CERT event. So in response of National Preparedness Month Ready Long Beach 2015 is an annual Community Preparedness Expo that promotes a whole community approach to emergency preparedness and readiness. Ready. Long Beach will educate. Demonstrate and promote current efforts and programs. Within the city of Long Beach that support, preparedness, response. Recovery and resiliency. During a large scale incident. The use of volunteers may be essential to provide support and response when local first responders are overwhelmed and may not readily be available.