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Approval of License Agreement - <br />Wilson Automotive Group <br />February 16, 2010 <br />Page 2 <br />license extension recently expired. Additionally, Vinci no longer has any interest in the Fionda <br />dealership and is in Chapter 7 bankruptcy proceedings. <br />To enable Wilson to continue its improvements and utilization of the property for the adjacent <br />Honda dealership in fulfillment of the purposes of the Acquisition Agreement, it is recommended <br />that the Agency grant the proposed two-year License Agreement to Wilson (Exhibit 1). This will <br />also allow time for resolution on the Lease assignment between Vinci and Wilson. Wilson has <br />agreed to pay any amount the Agency is obligated to pay as rent under the lease for the <br />property. <br />ENVI120NMENTAL BMPACT <br />In accordance with the California Environmental Quality Act, the proposed project is exempt. <br />Therefore, no further action is required. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />'-~~;; <br />Cynthia J <br />Executive <br />,g --- ~ <br />Nelson <br />Director <br />CJN/SG/mlr <br />Exhibit: 1. Right of Entry and License Agreement <br />- 2~ <br />