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<br />. <br /> <br />. <br /> <br />. <br /> <br />that these embodied the proposed changes in the buildings. <br />He added that the partnership wished to give a "festival" <br />air to the buildings. He pointed out that the automobile <br />showroom shown in the drawings will be a custom restoration <br />center which has attracted the International Packard Motor <br />Club annually, bringing people from 35 states and 3 foreign <br />countries to Santa Ana. He added that he felt this would <br />provide great exposure for the City. He then stated that he <br />and Mr. Chase would be pleased to answer any questions the <br />Agency Members might have. <br /> <br />In response to a question from Mr. Young, Mr. Chase stated <br />that they hoped to begin construction on the project by <br />January, 1986. He added that there would be several phases <br />to the project because of the number of businesses involved <br />and that they would begin with the new construction on <br />vacant lots and progress to the rehabilitation of the <br />existing buildings. Mr. Young suggested that, when the <br />Partnership had more concrete plans, they might like to <br />return and make a further presentation to the Agency. <br /> <br />Mr. Chase stated that the partnership hoped to be able to <br />sign a Disposition and Development Agreement with the Agency <br />within 60 days. He stated that they had overcome most of <br />the obstacles and that the only things left that might <br />present a problem were the negotiations for the tri-plex <br />theater and the dinner house. Mr. Chase then introduced Mr. <br />Rick Zimmer to give the Agency an overview of the financing <br />to be obtained for the partnership. <br /> <br />Mr. Zimmer <br />development <br />the other <br />partnership. <br />cost of the <br /> <br />stated that the financing of the A-8 site <br />would be complex because of the partnership and <br />eight owners who were not a part of the <br />He added that it was estimated that the total <br />development would be approximately $10 million. <br /> <br />The following members of the Fiesta Marketplace partnership <br />addressed the Agency and thanked them for the strong support <br />the Agency staff had given in reaching the proposed <br />Memorandum of Understanding and asked the Agency to endorse <br />the Staff Recommendation: <br /> <br />Raymond Rangel <br />Jose Cabbalos <br />Robert Escalante <br />Allan Fainbarg <br /> <br />Mrs. McGuigan stated that she felt the Agency owed these <br />businessmen a great deal of thanks for all of their hard <br />work in putting this proposal together. <br /> <br />-4- <br />