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. MINUTES REGULAR MEETING COMMUNITY REDEVELOPMENT AGENCY SANTA ANA, CALIFORNIA NOVEMBER 15, 1983 The Regular Meeting of the Community Redevelopment Agency of the City of Santa Ana was called to order by Chairman Luxembourger at 5:55 P.M., in the City Council Chambers, 22 Civic Center Plaza, Santa Ana, California. After the Pledge to the Flag and the Invocation given by Chairman Luxembourger, roll was called: PRESENT ABSENT John Acosta Daniel Griset, Vice Chairman P. Lee Johnson patricia McGuigan Robert Luxembourger, Chairman Dan Young Gordon Bricken Others in attendance: . Rex Swanson, Interim City Manager Edward J. Cooper, City Attorney David N. Ream, Interim Deputy City Manager Thomas E. Hammill, Assistant Director Redevelopment and Real Estate Mellmary McNeely, Secretary JOINT PUBLIC HEARING FOR THE PROPOSED SALE BY THE COMMUNITY REDEVELOPMENT AGENCY TO THE CM VENTURE (A-6 SITE/WEST END THEATER) . The Interim Deputy City Manager pointed out that the Redevelopment Agency had granted an Exclusive Right to Negotiate to the CM Venture for the development of the A-6 site and had since negotiated a Disposition and Development Agreement with the developer providing for the rehabilita- tion of the West End Theater building into 8,000 square feet gross of office/retail space, and the construction upon the adjoining vacant property of an office/retail building containing approximately 12,000 square feet gross on three levels. He added that the estimated market value of the rehabilitation and new development improvements would be in excess of $1 million and that the rehabilitation was scheduled to take approximately six months and the new construction approximately one year. He stated that staff felt that this project will be a tremendous asset to downtown Santa Ana and was very proud to offer it to the Agency for consideration.