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Public Hearing Five-Year Subsidy Report THRIVE Santa Ana, Inc. <br />March 4, 2025 <br />Page 2 <br />4 <br />8 <br />6 <br />2 <br />and distribute fresh produce, and host weekly open-air markets and community <br />activities. In partnership with a local food cooperative, items will be sold through a <br />community supported production model, where members pay a monthly subscription to <br />receive a box of produce at their home, or available for pickup. The development will <br />also include a coffee shop, an artisan retail shop, a small conference room, and <br />restrooms. THRIVE has received all necessary permits and is anticipating project <br />completion by April 5, 2025. The City has prepared the Five-Year Subsidy Report <br />(Exhibit 1) which includes the following key points for THRIVE Santa Ana, Inc: <br />•The Ground Lease term is for ninety-nine years (through December 15, 2121) at <br />$1 per month; <br />•Economic subsidy is $817,000, the appraised value of the property; <br />•Upon completion, property taxes are estimated to be at $1,500 annually; <br />•Upon completion, the subsidy will create five (5) full-time jobs, 10 part-time jobs, <br />and 10 temporary positions. <br />Economic Development Division staff continue to oversee compliance ensuring that all <br />requirements are met in accordance with the terms of the agreement. As required by <br />law, a notice of public hearing was published and the Five-Year Economic Development <br />Subsidy report has been posted on the City’s website: https://www.santa- <br />ana.org/subsidy-reports/. <br />A project update was submitted by THRIVE and is attached as Exhibit 3. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Five-Year Subsidy Report – THRIVE Santa Ana, Inc. <br />2. Proof of Publication <br />3. THRIVE Project Update <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Alvaro Nuñez, City Manager