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FIESTA MARKETPLACE PARTNERS <br />C/O S & A PROPERTIES <br />I Z9 W. WILSON ST, <br />surly 100 <br />COSTA MESA, CA 9Z627 <br />q44-722-7400 <br />949-7 22-8855 FAX <br />October 19, Z010 <br />ORIGINAL LETTER <br />Cynthia 1. Nelson, Deputy City Manager <br />City of Santa Ana <br />Comnunit:V Development Agency <br />?(I Cj,.?ir C.Pnipr Plam - Pact CtNce Box 1988 - M-25 <br />Santa Ana, CA 92702 <br />RE: Cite pf $ant,@ Ana Pagadc Rebate Pfocram <br />Fiesta Markctplacp ParLn-ers One and Two <br />Rwirriurd and Dulia RanWl <br />Dear Grady; <br />This letter will serve to memorialize the agreement :hat the Fiesta Markenlace Paroer5 <br />One and Two and Ray-flond and Delia Rangel have reached wth the City 00rcerniag tl�e <br />CItV's'Fag2dc Rebate "ram. <br />The Fiesta Marketplace Partners and Raymond and Delia Pangel will invest in their <br />reSpeCLIVO properties, appro)drrjat::Iy 1,11,125,000.00 and vqll receive frorn the City ,, <br />r'o5adc Program approximately $825,000.00 (Casa contribution --ram Fiesta Marketplace <br />P,10,11L.'r Orm irid Two is $3,245,000.00 and Raymond and Delia Rangel is $55,D00.00)- <br />Exhibit 'A', attached herru, so,(,& -forth dotal I of these expenditures. <br />The Fiesta Marketplace Partners shall Invest an Estimated $580,0K,00 to renavate vie, <br />public gathering area currently knonvn as 'The Pa3eo". The Coy owns a part of The <br />Pasco that front the City -owned surf -ace paeking lot at Third and Bush Streets, The <br />Fiesta Marketplace Partners veil) renovate The Pasez) at its' own expense and not seek <br />reirnbUrsernent from :he Cibi for the approyimately on,p4nurth of reni,.)vation costs, <br />which translates to about 15 120, 505. 00, Wat vjzw d be apportoned to the one-tourti of <br />Th,_ Pasco that the City corms, <br />Sincerely YOUT5, <br />Fiesta Marketplace Partners One and Two <br />Raymond and Del a Aarigal <br />By, Irvinq M. Chase, General Partner <br />rr, A Ian Fai n ha rc <br />Ryan Ch@sc= <br />Raymond a -id Della Rangel <br />Day'd Schcippers, CPA <br />CITY COUNCIL MINUTES 23 OCTOBER 18, 2010 <br />