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<br />. <br /> <br />. <br /> <br />B. <br /> <br />. <br /> <br />1. <br /> <br />That within 30 days of the 90-day period, the <br />developer re-submit a pro forma for their project <br />using an assumed land cost of approximately $15 <br />per square foot. If such a pro forma is not <br />submitted the exclusive right will be subject <br />to termination by the Agency. <br /> <br />2. <br /> <br />The developer must submit specific details in <br />the physical plans on the phasing of the park- <br />,ing garage and agree to build the garage to <br />allow for phasing. <br /> <br />3. <br /> <br />The provision of Fourth street retail must <br />remain as an integral part of future plans. <br /> <br />4. <br /> <br />The developer agrees to start construction <br />within nine months of signing the exclusive <br />right to negotiate agreement. The agreed dis- <br />position price will have an adjustment clause <br />if construction is not started within six months <br />after signing the Disposition and Development <br />Agreement. <br /> <br />DEVELOPER RECOMMENDATION FOR B-1 SITE (FORMERLY JONES) <br /> <br />Recommendation: Adopt Resolution 82-2: A RESOLU- <br />TION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE CHAIRMAN OF THE <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA TO EXECUTE AN EXCLUSIVE NEGOTIATION AGREEMENT <br />WITH ROBERT FERRANTE AND JULES WALDER FOR PROPERTY <br />KNOWN AS THE "B-1 SITE". <br /> <br />Commission Recommendation: Recommend that the Agency <br />grant a 90-day Exclusive Right to Negotiate to the <br />Ferrante/Walder Company for development of the B-1 <br />site subject to the following conditions: <br /> <br />1. <br /> <br />The developer must proceed immediately with <br />plan refinement that insures that each devel- <br />opment phase is self contained. <br /> <br />2. <br /> <br />The developer agrees to start construction <br />within nine months of signing the exclusive <br />right to ne~otiate agreement. The agreed dis- <br />position prlce will have an adjustment clause <br />if construction is not started within six months <br />after signing the Disposition and Development <br />Agreement. <br /> <br />-3- <br />