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TF <br />CTS <br />AGEfdCY BOARC MEETING CAFE: <br />AGENCY SECRETARY USE ONLY: <br />FEBRUARY 16, 2010 <br />TI'CLE: <br />APPROVAL OF LICENSE AGREEMENT - <br />WILSON AUTOMOTIVE (CROUP <br />C.-vim.,-~ ~~~,N, ~~ <br />EX l9TIVE CIRECTOR <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on tsr Reading <br />^ 6rdinance on 2ntl Reading <br />^ Implemenfing Resolution <br />^ Set Public Hearing For_ <br />CONTINUED TO <br />~I~E NuMBER <br />REC®9VEM~N®E®ACTI®~@ <br />Authorize the Executive Director and Agency Secretary to execute the attached Right of Entry <br />and License Agreement with DWWRBB, Inc. (Wilson Automotive Group) for the property <br />generally located at 2051-2101 East Edinger Avenue, subject to non-substantive changes <br />approved by the Executive Director and Agency General Counsel. <br />DISCUSSION <br />In January 2006, the Agency acquired a ±40 year lease of approximately 1.9 acres of property <br />located at 2051-2101 East Edinger Avenue from Vinci Investment Co. (Vinci) (then-owner of the <br />adjacent Honda Santa Ana dealership) for the purpose of facilitating an expansion of the Santa <br />Ana Auto Mall. Pursuant to the terms of the Acquisition Agreement, the Agency licensed the <br />property back to Vinci for two years, during which time Vinci was to undertake certain <br />improvements such as landscaping, lighting and signage. Upon completion of the <br />improvements, the lease would then be reassigned to Vinci. <br />In May 2006, Wilson Automotive Group (Wilson) acquired the Honda dealership from Vinci. On <br />December 18, 2006, the Agency approved an assignment of the Acquisition Agreement from <br />Vinci to Wilson, under which Wilson assumed Vinci's other obligations to the Agency except for <br />the Agency lease (due to unresolved issues with the fee owner of the property). Instead, Vinci <br />entered into a separate parking agreement with Wilson until such time as Wilson could assume <br />the lease as contemplated by the Acquisition Agreement; and in January 2008, the Agency <br />approved atwo-year extension to the license. <br />During this time, Wilson completed many of the improvements as required by the Acquisition <br />Agreement and is working toward completion of those items remaining. However, the two-year <br />4 - 23 <br />