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CORRECTED LETTER <br />mro <br />FIESTA MARKETPLACE PARTNERS <br />QtQ S & A PRORE4TIEJS <br />129 W. WILSON ST. <br />Sul If: 1010 <br />COSTA MESA, CA 92627 <br />949-722-74013 <br />949-722-8855 FAX <br />October 18, 201€1 <br />Cynthia J. Edelson, Deputy City Manager <br />City of Santa Ana <br />Community Develcpment Agency <br />20 Civic C'e iter Plaza - Post Office Box 1988 - V-25 <br />Santa Ara, CA 92702 <br />RE: City & manta Any Facadc `Tubas Program <br />ricsta Marketplace ParL-iers One and Two <br />Rxoyirwrid and D0,a RangLd <br /> <br />'This letter will serve to memorial ze the ag-eement that the Fiesta Marketplace Partners <br />tine and Two and Raymond and Delia Rangel have reached with, :he City onnoerning the <br />City's =arade Rebate Frrogram, <br />The Fiesta Marketplace Partners and Raymund and Delia Rangmal will invest, in their <br />respect-ve prapcrtics,approximately 5,1,125,000,00 and will rctcivre =rorn the Ci y`s <br />fa?ade Program aup oximatnly $70,000.00 (Cash contribution from Fiesta Marke_place <br />Partner 09)2 aild Two is $3,305,00G.W and Rayirnond and D01ta Rencel is $55,303,00), <br />thlblr ".A", amchcd hcra.a, sets-forth drytarl of these mpenditures. <br />Tho Fiesta Marketplace Partners shalt Irwest an esdrna_ed $580,00M0 to renovate the <br />public, gather nra area wtre,itIV knoavn as "The Faseo°. The City owns a part of The <br />Pasch that fronts the Q-ity-ownedl surface parking lot at Third and Bush Strcc.ts. The <br />Fiesta Martc-.tplace Partners W11 -enovate The Paseo at its' ovm oxhQnse ind rant sack <br />reirnhurs?ment from the Cty for the approximately one-faEurth of re11-rrdal on costs, <br />which translates to about $160,000.00, that would to ap:)a-tianed to the am!-towth of <br />The Pa:seo that the Oty own.-. <br />Sincere )6c,u1s, <br />Fest aricc' ace Partners one artd Two <br />Fray and and lia Range) <br />BY: Irving M. Chase, Gene-al Partner <br />cc Allan Fainbarg <br />Ryan Chase <br />Raymond and D,2'1@ Rarlgel <br />David Scih2poo -,, CPA <br />CRA MINUTES 7 OCTOBER 18, 2010