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Home My Public Portal AboutA 1990-06-27 LYNWOOD LOCAL DEVELOPMENT COMPANYLYNWOOD LOCAL DEVELOPMENT COMPANY A. CALL TO ORDER 1. Flag Salute 2. Roll Call BOARD OF DIRECTORS Thursday, June 27, 1990 3:00 p.m. 111/tc f RE EIVED CITY 0 LYNWOOD CITY CLERKS OFFICE JUN 221990 AM PM '71819110111112111213 City Council Chambers Lynwood City Hall 11330 Bullis Road Lynwood, CA 90262 6,[ BERNARD LAKE SECRETARY- TREASURER CELIA ARROYO MEMBER HARRY PRINS MEMBER I. OPENING CEREMONIES: II III B. Certification of Agenda Posting APPROVAL OF MINUTES - March 14, 1990 ITEMS FOR CONSIDERATION A. A & J CARBURETORS FUNDING REQUEST: LEIGHTON HULL PRESIDENT VICE PRESIDENT (VACANT) Mr. Aubrey Gray of A & J Carburetors will be making a direct presentation to the LLDC for financial assistance. Economic Development staff members concur with the evaluation made by Security Pacific Bank that A & J Carburetors would be a good candidate for our Business Development Assistance Program. B. CRITERIA FOR GRANTING OF LOANS Due to lack of time and insufficient manpower, the LLDC has not as yet contacted a consulting firm to devise an apropriate criteria for granting of business loans. However, Mr. Shane Moshiri, who recently joined the Economic Development Division in the capacity of Economic Development Specialist, will attempt to utilize his expertise in this area to develop a general guideline for the purpose of loan granting. By the next LLDC meeting, hopefully, a first draft will be prepared by him independent of having to utilize the services of a consulting firm. 0 0 9 C. VACANCY ON BOARD OF DIRECTORS Presently there exist a vacancy due to the resignation of Dr. La Voneia Steele. However, Mrs. Margaret Araujo has expressed interest in serving on the board. D. PUBLICITY FOR GENE JOHNSON Mr. Johnson of A & J Electric Motors, following the obtainment of a small business loan from LLDC, informed this staff member, that he has received two sizable contracts: one in the amount of $100,000 from Los Angeles County Sanitation District, and the other in the amount of $30,000, from the U.S. Postal Services. In addition to the above mentioned, Mr. Johnson has received several other contracts ranging in value from $1,000 to $5,000. Due to this increase in the volume of business activity, Mr. Johnson has subsquently been able to purchase additional equipment, and hire two additional full -time employees. IV. STAFF ORALS V. BOARD ORALS VI. ADJOURNMENT - July 11, 1990 • LYfPOD LOCAL DEVELOPMOF COMYOY + MINUTES March 14, 1990 LLDC Board Members Present: Chairman Leighton Hull Bernard Lake Harry Prins Celia Arroyo Absent: La Voneia Steele City Staff Present: Kenrick R. Karefa- Johnson Interim Director of Community Development Clarence Williams, HCDA Manager OPENING CEREMONIES: The meeting of the Lynwood Local Development Company was called to order at 3:00 p.m. The flag salute was waived. CERTIFICATION OF AGENDA POSTING: Mr. Williams advised the Agenda was posted in accordance to the Brown Act. APPROVAL OF MINUTES: A motion was made by Mr. Prins to accept the minutes of the meeting of January 17, 1990, as submitted. Motion seconded and passed. ITEMS FOR CONSIDERATION: A. VACANT SEAT OF LA VONEIA STEELE A discussion was held regarding the seat and it was decided to write a letter to Ms. Steele and ask if she is still interested in serving on the board. Mrs. Araujo arrived and stated she was interested in filling said position. Mr. Karefa- Johnson asked Mrs. Araujo to submit a letter to him stating the same, which Mrs. Araujo agreed to do. B. WORLD SAVINGS Mr. Hull told of having an LLDC check bounce at World Savings. Mr. Hull stated the checking account did not have the required funds, but the savings account did. Mr. Hull went to World Savings to straighten this out, and stated the attitude at World Savings was very cavalier and uncaring. Mr. Hull made a motion to withdraw all funds from World Savings and transfer said funds to Home Bank. Motion was seconded and passed. C. FUNDING REQUESTS Mr. Williams and Mr. Lake spoke of a request for assistance made by Lynwood Physical Therapy and the new owner of the former Bill Kolitz building. STAFF ORALS None BOARD ORALS None ADJOURNMENT With no further business to come before the Board, a motion was unanimously carried to adjourn to the next scheduled meeting. lra \usibm \lldcmnts \sf LYNWOOD LOCAL DEVELOPMENT COMPANY BOARD OF DIRECTORS± Thursday, June 27, 1990 3:00 p.m. City Council Chambers Lynwood City Hall 11330 Bullis Road Lynwood, CA 90262 BERNARD LAKE SECRETARY - TREASURER CELIA ARROYO MEMBER HARRY PRINS MEMBER I. OPENING CEREMONIES: A. CALL TO ORDER 1. Flag Salute 2. Roll Call B. Certification of Agenda Posting II. APPROVAL OF MINUTES - March 14, 1990 III. ITEMS FOR CONSIDERATION A. A & J CARBURETORS FUNDING REQUEST: r RE CIE IVED I I CITY OF LYNWOOD CITY CLERKS OFFICE JUN 22 1990 AM PM 71sig J0101t,12111 Cli LEIGHTON HULL PRESIDENT VICE PRESIDENT (VACANT) Mr. Aubrey Gray of A & J Carburetors will be making a direct presentation to the LLDC for financial assistance. Economic Development staff members concur with the evaluation made by Security Pacific Bank that A & J Carburetors would be a good candidate for our Business Development Assistance Program. B. CRITERIA FOR GRANTING OF LOANS Due to lack of time and insufficient manpower, the LLDC has not as yet contacted a consulting firm to devise an apropriate criteria for granting of business loans. However, Mr. Shane Moshiri, who recently joined the Economic Development Division in the capacity of Economic Development Specialist, will attempt to utilize his expertise in this area to develop a general guideline for the purpose of loan granting. By the next LLDC meeting, hopefully, a first draft will be prepared by him independent of having to utilize the services of a consulting firm. P 9 0 0 C. VACANCY ON BOARD OF DIRECTORS Presently there exist a vacancy due to the resignation of Dr. La Voneia Steele. However, Mrs. Margaret Araujo has expressed interest in serving on the board. D. PUBLICITY FOR GENE JOHNSON Mr. Johnson of A & J Electric Motors, following the obtainment of a small business loan from LLDC, informed this staff member, that he has received two sizable contracts: one in the amount of $100,000 from Los Angeles County Sanitation District, and the other in the amount of $30,000, from the U.S. Postal Services. In addition to the above mentioned, Mr. Johnson has received several other contracts ranging in value from $1,000 to $5,000. Due to this increase in the volume of business activity, Mr. Johnson has subsquently been able to purchase additional equipment, and hire two additional full -time employees. IV. STAFF ORALS V. BOARD ORALS VI. ADJOURNMENT - July 11, 1990 • LYSPOD LOCAL DEVELOPM& COMTOY !u IU2116101 March 14, 1990 LLDC Board Members Present: Chairman Leighton Hull Bernard Lake Harry Prins Celia Arroyo Absent: La Voneia Steele City Staff Present: Kenrick R. Karefa- Johnson Interim Director of Community Development Clarence Williams, HCDA Manager OPENING CEREMONIES: The meeting of the Lynwood Local Development Company was called to order at 3:00 p.m. The flag salute was waived. CERTIFICATION OF AGENDA POSTING: Mr. Williams advised the Agenda was posted in accordance to the Brown Act. APPROVAL OF MINUTES: A motion was made by Mr. Prins to accept the minutes of the meeting of January 17, 1990, as submitted. Motion seconded and passed. ITEMS FOR CONSIDERATION: A. VACANT SEAT OF LA VONEIA STEELE A discussion was held regarding the seat and it was decided to write a letter to Ms. Steele and ask if she is still interested in serving on the board. Mrs. Araujo arrived and stated she was interested in filling said position. Mr. Karefa- Johnson asked Mrs. Araujo to submit a letter to him stating the same, which Mrs. Araujo agreed to do. B. WORLD SAVINGS Mr. Hull told of having an LLDC check bounce at World Savings. Mr. Hull stated the checking account did not have the required funds, but the savings account did. Mr. Hull went to World Savings to straighten this out, and stated the attitude at World Savings was very cavalier and uncaring. Mr. Hull made a motion to withdraw all funds from World Savings and transfer said funds to Home Bank. Motion was seconded and passed. C. FUNDING REQUESTS Mr. Williams and Mr. Lake spoke of a request for assistance made by Lynwood Physical Therapy and the new owner of the former Bill Kolitz building. STAFF ORALS None BOARD ORALS None ADJOURNMENT With no further business to come before the Board, a motion was unanimously carried to adjourn to the next scheduled meeting. Lra \usihm \LLdcmnts \sf