1 - DDA CREVIER BMW AND MINI AT SA AUTO MALL

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Joint — Crevier BMW and Mini June 22, 2011 Page 3 raising the existing grade and providing landscaping and lighting improvements consistent with municipal code and other pertinent requirements and standards. Both Crevier and Penske are valued members of Santa Ana's business community, very reputable and community- oriented companies, and great assets to the Auto Mall. Penske owns Commonwealth Audi/VW and is in the process of relocating Audi into its own facility at the former Kia site, across from its current location. The project includes building renovation and a 10,000 square foot expansion. The Penske Group has also leased and is in the process of enhancing /expanding the former Saturn site for Commonwealth Audi/VW. Given the importance of this transaction to the City and the pending state threat to Redevelopment Agencies which could eliminate our ability to take action, it was necessary to call a special session of the Council /Agency to ensure escrow closure in early July. ENVIRONMENTAL COMPLIANCE In accordance with the California Environmental Quality Act, the proposed project is exempt from further review pursuant to Section 15061(b)(3), which is a general rule exemption applying to projects that have no possibility of having a significant effect on the environment. As this project consists of the assignment of an existing agreement to a new party, no effects on the environment will occur. Therefore, Categorical Exemption Environmental Review No. 2011 -51 will be filed for this project. FISCAL IMPACT There is no fiscal impact associated with this action Sandi Gottlieb Redevelopment Project Manager Community Development Agency NTE/VU /SG /mlr Exhibits: 1. Site Map 2. Council Resolution 3. CRA Resolution 4. Amended DDA 5. Assignment/Assumption Agreement — 1500 Auto Mall Drive 6. Assignment/Assumption Agreement — 1455 Auto Mall Drive 1 -3