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<br />. <br /> <br />. <br /> <br />. <br /> <br />of property within the A-8 site by the Community Redevelopment <br />Agency of the City of Santa Ana to Fiesta Marketplace Partners. <br />He added that the A-8 Site is bounded on the north by Fifth <br />Street, on the east by French Street, on the south by Third <br />Street, and on the west by Bush Street and then asked that staff <br />identify the property or issues and give the staff <br />recommendation. <br /> <br />The City Manager called upon Mr. Ed Henning, Assistant Director <br />of the Downtown Development Commission, to make the staff <br />presentation. <br /> <br />The Assistant Director of the Downtown Development Commission <br />pointed out that the Fiesta Marketplace would be a part of a <br />larger project which will soon come into being. He added that <br />the overall project would have more than 200,000 square <br />feet covering four acres, excluding parking. He stated that, <br />after the approval of the A-8 site, 8 other participants will <br />begin to negotiate owner participation agreements for their <br />individual parcels. He then introduced Mr. Irving Chase of the <br />Fiesta Marketplace Partnership. <br /> <br />Mr. Chase thanked the Mayor, Agency Members and staff for all <br />their help and advised the Agency that their UDAG Application had <br />been approved by the Los Angeles Area Office of HUD and had been <br />forwarded to Washington, D.C. and that they hoped to have <br />approval by October. He added that the developers would be going <br />before State authorities on August 21, to obtain approval for $6 <br />million in bonding, for which the Bank of America would be the <br />agent. He added that the $1.5 million which would be raised in <br />cash would be guaranteed by Mr. Allan Fainbarg. He then <br />introduced Mr. Al Cruz, of MCG Architects, and asked him to make <br />a slide presentation on the proposed development. <br /> <br />Mr. Cruz expressed his gratitude for the help given by Mayor <br />Griset, all of the Agency Members and the Agency staff members <br />to the Partnership during long, hard negotiations. He then made <br />a comprehensive slide presentation showing all of the details of <br />the architectural design for the project. <br /> <br />Chairman Griset then asked that persons in agreement with the <br />proposed sale to step forward to the podium. <br /> <br />Messrs. Raymond Rangel, Jose Ceballas and Robert Escalante, all <br />partners in the Fiesta Marketplace partnership, addressed the <br />Agency and thanked the Mayor, the Agency Members, the City <br />Manager and all of his staff members for making such valuable <br />contributions to the formation and successful negotiations of the <br />Fiesta Marketplace Partnership. They all stated that the <br />commitment shown by the City's officials and staff had been <br />outstanding and that they were most appreciative for their help <br />and support. They all stated that they felt the Fiesta <br />Marketplace would be a very worthwhile project in which the <br />entire community could take pride. <br /> <br />-10- <br />