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<br />AMENDMENT <br />VISTA <br /> <br />TO THE OWNER PARTICIPATION AGREEMENT WITH MOHLER- <br /> <br />. <br /> <br />Mr. Rudolfo Montejano addressed the Agency stating that he <br />thought the Agency's proposal was a good proposal and that <br />he would be in the audience to an~wer any questions the <br />Agency members might have. <br /> <br />After discussion, a motion was made by Mr. Serrato, seconded <br />by Mr. Griset and carried by a vote of 3:2 (Mr. Yamamoto and <br />Mr. Markel casting the "NO" votes) to adopt Resolution 80- <br />116: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF <br />THE CITY OF SANTA ANA AUTHORIZING THE CHAIRMAN OF THE AGENCY <br />TO EXECUTE AN AMENDMENT TO AN OWNER PARTICIPATION AGREEMENT <br />BETWEEN SAID AGENCY AND MOHLER-VISTA. <br /> <br />ACQUISITION <br />SITE <br /> <br />OF <br /> <br />PROPERTY WITHIN THE DOWNTOWN PARKING GARAGE <br /> <br />. <br /> <br />A motion was made by Mr. Griset, seconded by Mr. Serrato and <br />carried unanimously to adopt Resolution 80-118: A <br />RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA AUTHORIZING THE CHAIRMAN OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA TO EXECUTE AN <br />AGREEMENT FOR ACQUISITION OF REAL PROPERTY BETWEEN THE <br />AGENCY AND FAIRHAVEN MEMORIAL PARK, INC. <br /> <br />MAJOR COMMERCIAL REHABILITATION <br />SALE/HORTON BUILDING PARTNERSHIP <br /> <br />LOAN <br /> <br />PROGRAM <br /> <br />NOTE <br /> <br />Mr. Ream stated that this represented the note sale for the <br />Horton Building Partnership (property located at 517 N. Main <br />Street) for a total consideration of $1,000,000 and that the <br />Redevelopment Agency, at its meeting of July 21, 1980, had <br />adopted an Owner Participation Agreement with the Horton <br />Building Partnership. <br /> <br />After brief discussion, a motion was made by Mr. Serrato, <br />seconded by Mr. Luxembourger and carried unanimously to <br />adopt Resolution 80-123: A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING THE <br />SALE OF A $1,000,000 PROMISSORY NOTE TO WELLS FARGO BANK, <br />PURSUANT TO THE MAJOR COMMERCIAL REHABLITATION LOAN PROGRAM. <br /> <br />MAJOR COMMERCIAL REHABILITATION LOAN PROGRAM NOTE SALE/DAVID <br />AND LEVA FLAHERTY <br /> <br />. <br /> <br />Chairman Luxembourger asked if the current prime interest <br />rate of 20% would have any impact on the $1,000,000 note <br />sale. Mr. Ream stated that it would not. He also stated <br />that Wells Fargo Bank had made a commitment to bid on this <br />note sale at 10%. <br /> <br />After brief discussion, a motion was made by Mr. Griset, <br />seconded by Mr. Yamamoto and carried by a vote of 4:1 (Mr. <br />Markel casting the "NO" vote) to adopt Resolution 80-124: A <br />RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA APPROVING THE SALE OF A $287,500 PROMISSORY <br />NOTE TO WELLS FARGO BANK, PURSUANT TO THE MAJOR COMMERCIAL <br />REHABILITATION LOAN PROGRAM. <br /> <br />. <br /> <br />-3- <br /> <br />:3 <br />