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<br />After a brief discussion, it was moved by Mr. Young, <br />seconded by Mr. Acosta and carried unanimously that the <br />Agency: <br /> <br />. <br /> <br />1. <br /> <br />Adopt Resolution No. 85-11: A RESOLUTION OF THE <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING AN AGREEMENT BETWEEN THE <br />AGENCY AND RITCHEY CENTER NORTH AND RITCHEY CENTER <br />SOUTH. <br /> <br />2. <br /> <br />Approve the project budget and authorize its <br />implementation by the Redevelopment Commission. <br /> <br />A motion was made by Councilmember Young, seconded by <br />Councilmember Acosta and carried by the following roll call <br />vote to adopt Resolution 85-40: A RESOLUTION OF THE CITY <br />COUNCIL OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS AND <br />DETERMINATIONS WITH RESPECT TO IMPROVEMENTS TO BE FUNDED BY <br />THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />PURSUANT TO ITS PARTICIPATION AGREEMENT WITH RITCHEY CENTER <br />NORTH AND RITCHEY CENTER SOUTH. <br /> <br />AYES: <br /> <br />Acosta, Griset, Hart, Johnson, Luxembourger, <br />McGuigan, Young <br /> <br />. <br /> <br />NOES: <br />ABSENT: <br /> <br />None <br />None <br /> <br />EXCLUSIVE RIGHT TO NEGOTIATE, DUNN PROPERTIES DEVELOPMENT <br />FOR THE C-7 SITE (SOUTHEAST CORNER OF MAIN STREET AND OWENS <br />DRIVE) <br /> <br />Mrs. Cindy Nelson, Redevelopment Officer, pointed out that <br />for the past several years, the Redevelopment Agency has <br />been working with Mr. Micheal Madzoeff to develop his twelve <br />properties located on North Main Street between Owens and <br />Bachman Drives and that Mr. Madzoeff has now secured a <br />purchaser/developer for not only his parcels, but also nine <br />other properties which will result in a 4.76 acre site. She <br />added that Dunn Properties, in a joint venture with Mr. <br />William Singer, are proposing to develop a ten-story, <br />220,000 square foot office building with structured parking <br />at an estimated development value of $20 million. <br /> <br />. <br /> <br />After a discussion period, it was moved by Mr. Acosta, <br />seconded by Mr. Luxembembourger that the Agency grant a 90- <br />day exclusive right to negotiate to Dunn Properties for <br />development of the C-7 site at the southeast corner of Main <br />and Owens Drive. <br /> <br />-4- <br />