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<br />" '" <br /> <br />11 <br /> <br /> <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br /> <br />8 :: <br /> <br />25 <br />2& <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />38 <br />40 <br />41 <br />42 <br />43 <br /> <br />8: <br /> <br />46 <br />47 <br />48 <br />49 <br />50 <br />81 <br />52 <br />63 <br />54 <br />55 <br />58 <br />57 <br />58 <br />89 <br />60 <br />61 <br />62 <br />63 <br /> <br />.64 <br />65 <br />66 <br />67 <br />68 <br />88 <br />70 <br />71 <br />72 <br />73 <br />74 <br /> <br />Proof of Fobruary 21, 1978 <br /> <br />SANTA ANA-7923 <br /> <br />Bowne of San Francisco, Inc., 981-7882 <br /> <br />GALLEY 35- <br /> <br />The recent development of 400 units of senior <br />citizens housing adjacent to an existing park in the <br />downtown area makes it necessary to upgrade the <br />facilities in the park and to expand the park east- <br />ward into the downtown area where it will connect <br />with the Second Street Mall, <br /> <br />Other Project Development <br />The Agency anticipates other private develop- <br />ments will occur within the Project as land is acquired <br />and cleared for resale for development, utilizing pro- <br />ceeds from the Bonds currently offered, However, <br />other than recent developments discussed above and <br />included in the projections in Table 2, no projected <br />developments have been utilized in the calculations <br />of Tax Revenues presented in the following section <br />of this official statement. <br />However, as an indication of development activity <br />within the Project, the following paragraphs sum- <br />marize certain proposed developments that planning <br />and/or negotiation between the Agency and devel- <br />opers are currently underway, Again, it must be <br />noted that none of these developments have been <br />utilized in the calculations of projected Tax Reve- <br />nuesand estimated Bond retiremenl presented in this <br />official statement. <br />The Agency is currently enlering into negotiations <br />with a major office developer for a two block site <br />located al the corner of Flower and Civic Cenler <br />Drive. <br />Negotiations are also proceeding with an owner <br />of a vacant l8-acre parcel at the intersection of the <br />Santa Ana/Garden Grove and Orange freeways, An <br />extremely desirable location, this would be developed <br />as a complex of office buildings, commercial usage <br />and perhaps a major motor holel. Immediately to the <br />~outh of the above site, preliminary negotiations have <br />begun with the owner of an existing older motel to <br />remove Ihe existing motel and construct a lOO-unit <br />motor hotel. <br />As part of its downtown renovation, the Agency <br />assisted the owners of the World Travel Bureau to <br />remodel and renovate Ihe exlerior of its 4,200 <br />square-foot building, located on Main Street and <br />Civic Center Drive, The Agency is currently working <br />with the owners of the Corday Hotel, a 72-room <br />hotel located at North Spurgeon and East Third <br />Streets. The owners are in the process of a $200,000 <br />renovation" The Spurgeon office building, a major <br />historic landmark, located at Fourth and Main <br />Streels, is also scheduled for major renovation this <br />year .and the Agency is assisting owners to provide <br />additional parking, Mentioned above have been the <br />Agency's efforts in conjunction with the refurbishing <br />of the Santora Bnilding and the building to the south. <br />A number of other refurbishing efforts are in various <br />stages and, in tolal, the Agency is currently involved <br />with twelve property owners in the refurbishing of <br />their buildings, <br />