Recommendation to authorize City Manager, or designee, to execute a grant agreement with the Long Beach Community Development Corporation, a 501(c)3 organization to be located in Long Beach, in an amount not to exceed $125,000, to support the establishment of a Community Development Corporation (CDC) to deploy programs and services that support economic development and financial empowerment of low-median income communities; and Increase appropriations in the General Fund Group in the Economic Development Department by $125,000, offset by proceeds received from the sale of Successor Agency properties. (Citywide)
Thank you. That that concludes those district transfers. Let's go and go to item 20. We're going to go out on 26. Item 26 Report from Economic Development Recommendation to execute a grant agreement with the Long Beach Community Development Corporation in an amount not to exceed 125,000 to support the establishment of a community development corporation citywide. Think I'm wondering. I'm not sure. Mr. MODICA This is actually a pretty big item and one that I want the council to be engaged, engaged on to do. How long is a presentation? Long are we up for it? For right now. Okay. Ready to answer questions? Okay. Well, this is this is the to accept the grant for the Community Development Corporation. There's a motion in a second. I don't see any public comment on this. Are there any questions? I guess we don't need to go that much discussion then to go and get your votes.