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RESOLUTION NO. <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA CONSENTING TO ASSIGNMENT OF A PRIVATE <br />DISPOSITION AND DEVELOPMENT AGREEMENT AND <br />APPROVING AN AMENDMENT TO THE PRIVATE <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />BETWEEN THE AGENCY AND PAG SANTA ANA B1, INC. <br />AND THE AGENCY MAHING CERTAIN OTHER <br />FINDINGS IN CONNECTION THEREWITH <br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana <br />("Agency") entered into that Private Disposition and Development Agreement with Donald J. <br />Crevier, as Trustee of the Crevier Trust and Crevier Motors, Inc., a corporation duly organized <br />under the laws of the State of California, dated as of July 19, 2004, (the "Original Developer"), a <br />copy of which is on file with the Agency, pursuant to which the Original Developer was to <br />develop the Property located at 1500 Auto Mall Drive ("Property"); and <br />WHEREAS, the Agency and the Original Developer entered into that certain First <br />Implementation Agreement, dated April 18, 2005; and <br />WHEREAS, the Agency has concurrently herewith consented to an assignment of the <br />Original DDA by Original Developer to PAG Santa Ana B1, Inc., a Delaware corporation <br />("PAG"); and <br />WHEREAS, the Agency and PAG now desire to amend the terms of the Original DDA <br />as implemented by the First Implementation Agreement (collectively, the "Original DDA") by <br />modifying the Scope of Development and Schedule of Performance in accordance with the <br />Amendment to the Private Disposition and Development Agreement ("Amendment") <br />substantially in the form submitted herewith (the Original DDA and Amendment are referred to <br />herein as the "DDA, as amended"); and <br />WHEREAS, the Agency has duly considered all terms and conditions of the Amendment <br />and believes that the DDA, as amended is in the best interest of the Agency and the City of <br />Santa Ana and the health, safety, and welfare of its residents, and in accord with the public <br />purposes and provisions of applicable State and local laws requirements; and <br />WHEREAS, the Developer has submitted to the Agency and the City Council of the City <br />of Santa Ana ("City Council") copies of the DDA, as amended; and <br />WHEREAS, all actions required by all applicable law with respect to the Amendment <br />have been taken in an appropriate and timely manner; and <br />WHEREAS, the Agency and the City Council have duly considered all the terms and <br />conditions of the Amendment and believes that the redevelopment of the Property pursuant to the <br />EXHIBIT 3 <br />DOCSOC/1495396v5/200272-0006 1-11 <br />